Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 15

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 15
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 at the time of purchase within the four highest quality ratings as determined by either Moody’s, S&P or Fitch. The Fund may invest up to 25% of its total assets in municipal bonds that are rated below Baa by Moody’s or below BBB by 
 S&P or Fitch or, if unrated, are considered by the Investment Advisor to possess similar credit characteristics.                                                                                                                        |

vii

Bond Maturity: Below is a comparison of each Fund’s policy with respect to bond maturity.

| BLE                                                                                                                                                                                                                            |     | BYM                                                                                                                                                                                                                            |     | BFK                                                                                                                                                                                                                            |     | MUE                                                                                                                                                                                                                       |     | Acquiring Fund                                                                                                                                       |
|                                                                                                                                                                                                                                |     |                                                                                                                                                                                                                                |     |                                                                                                                                                                                                                                |     |                                                                                                                                                                                                                           |     | -MHD                                                                                                                                                 |
| The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. The Fund’s portfolio at any given time may include both 
 long-term and intermediate-term Municipal Bonds.                                                                                                                                                                               |     | The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. The Fund’s portfolio at any given time may include both 
 long-term and intermediate-term Municipal Bonds.                                                                                                                                                                               |     | The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. The Fund’s portfolio at any given time may include both 
 long-term and intermediate-term Municipal Bonds.                                                                                                                                                                               |     | The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Manager. The Fund’s portfolio at any given time may include long-term, 
 intermediate-term and short-term Municipal Bonds.                                                                                                                                                                         |     | The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market                     
 conditions by the Investment Advisor. The Fund’s portfolio at any given time may include both long-term, intermediate -term and short-term municipal 
 bonds.                                                                                                                                               |

Leverage: Each Fund utilizes leverage through the issuance of VMTP Shares and TOBs. See “The Acquiring Fund’s Investments—Leverage;” “General Risks of Investing in the Acquiring Fund—Leverage Risk;” and “General Risks of Investing in the Acquiring Fund—Tender Option Bond Risk.” The Acquiring Fund is expected