Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 163

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 163
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 shares are subject to 
 a $2.50 sales fee and a $0.15 per share sold brokerage commission fee.                                                                                                                                                                                   |

| (3) | Each of BLE and BYM currently pays the Investment Advisor a monthly fee at an annual contractual investment                                                                                                                                              
 management fee rate of 0.55% of its average weekly managed assets. BFK currently pays the Investment Advisor a monthly fee at an annual contractual investment management fee rate of 0.60% of its average weekly managed assets. MUE and the Acquiring  
 Fund currently pays the Investment Advisor a monthly fee at an annual contractual investment management fee rate of 0.55% of its average daily net assets. For purposes of calculating these fees, “net assets” mean the total assets of the             
 Trust minus the sum of its accrued liabilities (which does not include liabilities represented by TOB Trusts and the liquidation preference of any outstanding preferred shares). It is understood that the liquidation preference of any outstanding    
 preferred stock (other than accumulated dividends) and TOB Trusts is not considered a liability in determining a Trust’s NAV. For purposes of calculating these fees, “managed assets” are determined as total assets of the Fund                        
 (including any assets attributable to money borrowed for investment purposes) less the sum of its accrued liabilities (other than money borrowed for investment purposes). If the Reorganizations are consummated, the annual contractual investment     
 management fee rate of the Acquiring Fund will be the annual contractual investment management fee rate of the Combined Fund, which will be 0.55% of the average daily net assets of the Combined Fund. The annual contractual investment management fee 
 rate of the Combined Fund is the same as the annual contractual investment management fee rate for BLE, BYM and MUE and less than the annual contractual investment management fee rate for BFK.                                                         |

| (4) | Each Fund and the Investment Advisor have entered into the Fee Waiver Agreement, pursuant to which the                                                                                                                                                    
 Investment Advisor has contractually agreed to waive the management fee with respect to any portion of each Fund’s assets attributable to investments in any equity and fixed-income mutual funds and exchange-traded funds managed by the                
 Investment Advisor or its affiliates and other exchange-traded products sponsored by the Investment Advisor or its affiliates, in each case that have a contractual fee, through June 30, 2027. In addition, pursuant to the Fee Waiver Agreement,        
 the Investment Advisor has contractually agreed to waive its management fees by the amount of investment advisory fees each Fund