Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 52

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 52
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 976 Series W-7 VMTP Shares outstanding, BFK had 1,541 Series W-7 VMTP Shares outstanding, MUE had 780 Series W-7 VMTP Shares outstanding and the
Acquiring Fund had 2,140 Series W-7 VMTP Shares outstanding. In connection with the Reorganizations, the Acquiring Fund expects to issue 1,741 additional VMTP Shares to BLE (for distribution to BLE’s
VMTP Holders), 976 additional VMTP Shares to BYM (for distribution to BYM’s VMTP Holders), 1,541 additional VMTP Shares to BFK (for distribution to BFK’s VMTP Holders), and 780 additional VMTP Shares to MUE (for distribution to
MUE’s VMTP Holders). Following the completion of the Reorganizations, the Combined Fund is expected to have 7,178 VMTP Shares outstanding.

17

The Board noted that, assuming all of the Reorganizations are approved by the requisite
shareholders, upon the Closing Date of the Reorganizations, BLE, BYM, BFK and MUE will each receive one newly issued Acquiring Fund VMTP Shares. No fractional Acquiring Fund VMTP Shares will be issued. The terms of the Acquiring Fund VMTP Shares to
be issued in connection with the Reorganizations will be substantially identical to the terms of the Acquiring Fund’s outstanding VMTP Shares and will rank on parity with the Acquiring Fund’s outstanding VMTP Shares as to the payment of
dividends and the distribution of assets upon dissolution, liquidation or winding up of the affairs of the Acquiring Fund. The newly issued Acquiring Fund VMTP Shares will have the same term redemption date applicable to the outstanding Acquiring
Fund VMTP Shares as of the Closing Date of the Reorganization. Such term redemption date is July 2, 2026, unless extended. The Reorganizations will not result in any changes to the terms of the Acquiring Fund’s VMTP Shares currently
outstanding.

The newly issued Acquiring Fund VMTP Shares will have terms that are substantially identical to the terms of the currently
outstanding BLE, BYM, BFK and MUE VMTP Shares, including the same term redemption date.

The Board noted that none of the expenses of the
Reorganizations are expected to be borne by the VMTP Holders or the VMTP Holders, as applicable, of the Funds.

Following the
Reorganizations, the VMTP or VMTP Hold