Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 165

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 165
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| Liquidation Preference per VMTP Share |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●] |

| (1) | Based on the number of outstanding common shares as of July 31, 2025. |

| (2) | Reflects non-recurring aggregate estimated Reorganization expenses of                                                                                                                                                                
 $[●], of which $[●] was attributable to BLE, and $[●]was attributable to the Acquiring Fund. The actual costs associated with the Reorganizations may be more or less than the estimated costs discussed herein. These costs will be 
 amortized over the life of the VMTP Shares by the Combined Fund. Reflects undistributed net investment income (previously defined as “UNII”) of $[●], of which $[●]was attributable to BLE and $[●] was attributable to the          
 Acquiring Fund. Reflects Undistributed Long Term Capital Gains of $[●] attributed to BLE.                                                                                                                                            |

| (3) | Reflects adjustments due to differences in per common share NAV. |

Capitalization of BYM and MHD as of July 31, 2025 and pro forma capitalization of the Combined Fund assuming only the BYM Reorganization is consummated (unaudited)

|                             |     | BYM |     |     | Acquiring Fund 
 (MHD)          |     |     | Adjustments |     |     | Pro forma 
 Combined  
 Fund (BYM 
 into MHD) |     |
| Net Assets Attributable to: |     |     |     |     |                |     |     |             |     |     |           |     |
| Common Shares(1)            |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●] |
| VMTP Shares                 |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●] |
| Shares Outstanding          |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●] |
| Common Shares               |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●]