Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 170

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 170
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 | ) |     |            |      175,231,760 |
| VMTP Shares                           |     |     |          1,741 |     |     |            976 |     |     |          1,541 |     |     |            780 |     |           |          2,140 |     |             | -             |   |     |            |            7,178 |
| NAV per Common Share                  |     | $   |          10.75 |     | $   |          11.39 |     | $   |          10.39 |     | $   |          10.33 |     | $         |          12.10 |     | $           | -             |   |     | $          |            12.10 |
| Liquidation Preference per VMTP Share |     | $   |     100,000.00 |     | $   |     100,000.00 |     | $   |     100,000.00 |     | $   |     100,000.00 |     | $         |     100,000.00 |     | $           | -             |   |     | $          |       100,000.00 |

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

| (2) | Reflects non-recurring aggregate estimated Reorganization expenses of                                                                                                                                                                                  
 $1,564,000, of which $353,000 was attributable to BYM, and $346,000 was attributable to BLE, $371,000 was attributable to BFK, $255,000 was attributable to MUE, and $239,000 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.                                                                                |

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

94

FINANCIAL HIGHLIGHTS

The Financial Highlights table is intended to help you understand BLE’s financial performance for the periods shown. Certain information
reflects the financial results for a single common share of BLE. The total returns in the table represent the rate an investor would have earned or lost on an investment in BLE (assuming reinvestment of all dividends and/or distributions, if
applicable).