Company: BLE
Filing Date: 2025-02-06
Form Type: DEFA14A
Source: 0001193125-25-021786
Chunk: 1

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-02-06
Form: DEFA14A
Chunk 1
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 below:

| • |     | BlackRock Municipal Income Trust II (NYSE: BLE), BlackRock Municipal Income Quality Trust (NYSE: BYM) and                                  
 BlackRock Municipal Income Trust (NYSE: BFK) into BlackRock MuniHoldings Fund, Inc. (NYSE: MHD) with MHD continuing as the surviving Fund; |

| • |     | BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN), BlackRock MuniYield Quality Fund II, Inc. (NYSE:                                            
 MQT) and BlackRock MuniYield Fund, Inc. (NYSE: MYD) into BlackRock MuniYield Quality Fund, Inc. (NYSE: MQY), with MQY continuing as the surviving Fund; and |

| • |     | BlackRock Long-Term Municipal Advantage Trust (NYSE: BTA) into BlackRock MuniAssets Fund, Inc. (NYSE: MUA), with 
 MUA continuing as the surviving Fund                                                                             |

We request that you take all necessary steps to recall any Fund shares on loan in order to ensure
that you are a record date shareholder with respect thereto. The record date for each Joint Special Meeting is expected to be on or about February 24.

This communication is not intended to, and does not solicit a proxy from any shareholder of a Fund. The solicitation of proxies to effect the reorganizations
announced on January 21, 2025 with respect to the Funds (each, a “Reorganization”) will only be made by a definitive Proxy Statement.

This
communication references Proxy Statements, to be filed by the Funds. The Proxy Statements have yet to be filed with the SEC. After each Proxy Statement is filed with the SEC, it may be amended or withdrawn. The Funds and their trustees, directors,
officers and employees, and BlackRock, and its shareholders, officers and employees and other persons may be deemed to be participants in the solicitation of proxies with respect to the Reorganizations. Investors and shareholders may obtain more
detailed information regarding the direct and indirect interests of each Fund’s trustees, directors, officers and employees, and BlackRock and its shareholders, officers and employees and other persons by reading each Proxy Statement when it is
filed with the SEC. INVESTORS AND SECURITY HOLDERS OF THE FUNDS ARE URGED TO READ THE PROXY STATEMENTS AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS