BlackRock Announces Results of Shareholder Vote at Adjourned Joint Special Shareholder Meeting Relating to the Reorganizations of Five Municipal Closed-End Funds

BlackRock Advisors, LLC announced today that, at a joint special meeting of shareholders (the “Meeting”) of BlackRock Municipal Income Investment Quality Trust (NYSE: BAF), BlackRock MuniHoldings Fund II, Inc. (NYSE: MUH) and BlackRock MuniHoldings Quality Fund, Inc. (NYSE: MUS), the requisite votes of shareholders of BAF, MUH and MUS have approved the reorganization of each of BAF, MUH and MUS with and into BlackRock MuniHoldings Fund, Inc. (NYSE: MHD), with MHD continuing as the surviving Fund, and the transactions contemplated thereby (collectively, the “BAF, MUH and MUS Reorganizations”). Shareholders of BlackRock Municipal Bond Trust (NYSE: BBK and collectively with BAF, MUH, MUS and MHD, the “Funds,” and each, a “Fund”) previously approved the reorganization of BBK with and into MHD (the “BBK Reorganization” and collectively with the BAF, MUH and MUS Reorganizations, the “Reorganizations”) and shareholders of MHD previously approved each Reorganization at a joint special meeting of shareholders.

It is currently expected that the Reorganizations will be completed in the end of the first quarter of 2021, subject to the satisfaction of customary closing conditions. Each Reorganization, if completed, would occur based on the relative net asset values of the common shares of the applicable Funds. In addition, holders of Variable Rate Muni Term Preferred Shares (“VMTP Shares”) of each of BAF, BBK, MUH and MUS would receive on a one-for-one basis VMTP Shares of MHD in an amount equal to the aggregate VMTP Share liquidation preference (including any accumulated and unpaid dividends) held by holders of BAF, BBK, MUH and MUS VMTP Shares immediately prior to the Reorganizations.

This press release is not intended to, and does not, constitute an offer to purchase or sell shares of the Funds.

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