Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 41

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 41
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�  Effective leverage is a Fund’s effective economic                                                                                                                                                                                         
 leverage and includes both regulatory leverage and the leverage effects of certain derivative investments in the Fund’s portfolio. Currently, the leverage effects of TOB inverse floater holdings, in addition to any regulatory leverage, are 
 included in effective leverage ratios.                                                                                                                                                                                                          |
| Fund Management    |     | The Board of each Fund is responsible for the overall supervision of the operations of its respective Fund and performs the                                                                                                                     
 various duties imposed on the directors of investment companies by the 1940 Act and under applicable state law. Each Fund has the same Board Members and officers.                                                                              |
| Investment Advisor |     | BlackRock Advisors, LLC serves as the investment adviser for each Fund and is expected to continue to serve as investment                                                                                                                       
 adviser for the Combined Fund.                                                                                                                                                                                                                  |

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| Portfolio Management Team |     | The Funds are managed by a team of investment professionals comprised of Christian Romaglino, CFA, Walter O’Connor,                                                                                                         
 CFA, Michael Kalinoski, CFA, Kevin Maloney, CFA, Kristi Manidis and Phillip Soccio, CFA. Following the Reorganizations, it is expected that the Combined Fund will be managed by the same team of investment professionals. |
| Other Service Providers   |     | The other professional service providers for the Funds are or will be as follows:                                                                                                                                           |

| Service                                                 |     | Service Providers to the Funds      |
| Accounting Agent                                        |     | State Street Bank and Trust Company |
| Custodian                                               |     | State Street Bank and Trust Company |
| Transfer Agent, Dividend Disbursing Agent and Registrar |     | Computershare Trust Company, N.A.   |
| Redemption and Paying Agent to VMTP Shares              |     | The Bank of New York Mellon         |
| Independent Registered Public Accounting Firm           |     | Deloitte & Touche LLP               |
| Fund Counsel                                            |     | Willkie Farr & Gallagher LLP        |
| Counsel to the Independent Board Members                |     | Stradley Ronon Stevens & Young, LLP |

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PROPOSAL 1 – THE REORGANIZATIONS OF THE FUNDS

The Reorganizations seek to combine five funds that have the same investment adviser, the same Board Members, and similar investment
objectives and similar investment strategies, policies and restrictions

Description of the Reorganizations

Each Reorganization Agreement (a form of which is attached as Appendix A to this