Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 45

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 45
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 to shareholders of BLE, BYM, BFK
and MUE in connection with their receipt of Acquiring Fund Shares in the Reorganizations.

As soon as practicable after the Closing Date
for the Reorganizations, each of BLE, BYM, BFK and MUE will deregister as an investment company under the 1940 Act and liquidate, dissolve and terminate in accordance with its respective Agreement and Declaration of Trust and Delaware law or
Articles of Incorporation and Maryland law, as applicable. The Acquiring Fund will continue to operate after the Reorganizations as a registered, diversified, closed-end management investment company with the
investment objective, investment strategies, investment policies and investment restrictions described in this Proxy Statement.

Each
Reorganization is not contingent upon the approval of any other Reorganization. If a Reorganization is not consummated, the Fund for which such Reorganization(s) was not consummated would continue to exist and operate on a standalone basis. Both the
Target Fund and the Acquiring Fund will continue to be advised by the Investment Advisor. If a Reorganization is not consummated, the Investment Advisor may recommend alternative proposals to the Board of each Fund for which such Reorganization was
not consummated.

The Board’s Recommendation

The Board of BLE recommends that the VMTP Holders of BLE vote “FOR” the proposed BLE Reorganization Agreement at the Special
Meeting.

The Board of BYM recommends that the VMTP Holders of BYM vote “FOR” the proposed BYM Reorganization Agreement at the
Special Meeting.

The Board of BFK recommends that the VMTP Holders of BFK vote “FOR” the proposed BFK Reorganization Agreement
at the Special Meeting.

The Board of MUE recommends that the VMTP Holders of MUE vote “FOR” the proposed MUE Reorganization
Agreement at the Special Meeting.

The Board of the Acquiring Fund recommends that VMTP Holders of the Acquiring Fund vote “FOR”
the proposed BLE Issuance at the Special Meeting.

The Board of the Acquiring Fund recommends that VMTP Holders of the Acquiring Fund vote
“FOR” the proposed BYM Issuance at the Special Meeting.

The Board of the Acquiring Fund recommends that VMTP Holders of the
Acquiring Fund vote “FOR” the proposed BFK Issuance at the Special Meeting.

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The Board of the Acquiring Fund recommends that VMTP Holders of the Acquiring Fund vote
“FOR” the proposed