Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 168

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 168
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MUE 
 into MHD) |     |
| Net Assets Attributable to: |     |     |     |     |                |     |     |             |     |     |           |     |
| Common Shares               |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●] |
| VMTP Shares                 |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●] |
| Shares Outstanding          |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●] |
| Common Shares               |     |     | [●] |     |                | [●] |     |             | [●] |     |           | [●] |

92

|                                       |     | MUE |     | Acquiring Fund 
 (MHD)          |     | Adjustments |     | Pro forma 
 Combined  
 Fund (MUE 
 into MHD) |
| VMTP Shares                           |     | [●] |     | [●]            |     | [●]         |     | [●]       |
| NAV per Common Share                  |     | [●] |     | [●]            |     | [●]         |     | [●]       |
| 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 MUE, 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 MUE and $[●] was attributable to the           
 Acquiring Fund. Reflects Undistributed Long Term Capital Gains of $[●] attributed