Company: MMT
Filing Date: 2025-12-12
Form Type: PRE 14A
Source: 0000930413-25-003631
Chunk: 36

Company: MFS MULTIMARKET INCOME TRUST
Filing Date: 2025-12-12
Form: PRE 14A
Chunk 36
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 to each Target Municipal Fund of MFM Merger Shares                                
 (and cash in lieu of fractional MFM Merger Shares, if any) and, in the case of CXE, CMU and CXH, RVMTP Merger Shares having an 
 aggregate net asset value equal to the net asset value of the Target Municipal Fund on such date;                              |
| iv.  | the distribution of each Trust’s Common Merger Shares (and cash in lieu of fractional Common                                   
 Merger Shares, if any) pro rata to the common shareholders of the corresponding Target Fund;                                   |
| v.   | in the case of CXE, CMU and CXH, the distribution of the RVMTP Merger Shares pro rata to the shareholders                      
 of RVMTP Shares of the corresponding Target Municipal Fund; and                                                                |
| vi.  | the subsequent termination, dissolution and complete liquidation of each Target Fund.                                          |

It is currently expected that each Reorganization
will occur on the Closing Date.

| 7 |

Immediately after the close of each Reorganization,
the common shareholders of each Target Fund would hold common shares of the corresponding Trust (and cash in lieu of fractional
Common Merger Shares, if any) having an aggregate NAV equal to the aggregate NAV of the common shares of such Target Fund held
by those shareholders as of the close of business on the Closing Date. The market value of the common shares of each Trust after the Reorganizations may be more or less than the market value of the common shares of the Trust prior to the Reorganizations.

The Reorganization of a Target Fund is
not contingent on the approval of any other Target Fund’s shareholders (i.e., a Reorganization of one of the Target Funds, if approved
by that Target Fund’s shareholders, may still proceed if another Reorganization is not approved by another Target Fund’s shareholders),
with the exception that the Reorganization of VFL will not occur unless the Reorganization of CXE is approved by its shareholders
and other Transaction Conditions are otherwise met, including the approval by shareholders of MFM of the New Management Agreement
and New Board Proposal. See “Terms of the Reorganization Agreements—Conditions” below. In addition, under the
terms of the Purchase Agreement, the Proposed Board and Management Changes will not take effect for MMT unless the Reorganizations
of MIN and MCR, respectively, with and into MMT have occurred, and the Proposed Board and Management Changes will not take effect
for MFM unless the