MUI.US Tender Offer

BLACKROCK MUNICIPAL INCOME FUND, INC. (MUI.US) is offering to purchase up to 50% of its issued and outstanding shares of common stock, for cash at a price equal to 98% of the net asset value (NAV) per Share as of the close of regular session of the New York Stock Exchange (NYSE), on 18/11/2024, upon specified terms and subject to conditions as set forth in the Offer documents. Participants should obtain BLACKROCK MUNICIPAL INCOME FUND, INC. Offer to Purchase, dated 15/10/2024, for complete details of the offer. Participants should consult their tax advisor for complete details in reference to withholding taxes.

On 30/09/2024, shareholders approved the conversion of MUI.US to an unlisted closed-end interval fund, BlackRock Municipal Credit Alpha Portfolio, Inc. The new unlisted closed-end interval fund (CUSIP 09262J102) will not be DTC eligible. The conversion is expected to be completed in the first quarter of 2025. Since FUTC will not be able to hold shares of the new unlisted closed-end interval fund, holders of MUI.US have the following options:

Option (1): Tender shares in the offer and receive 98% of NAV per share. (subject to prorate basis, less any applicable withholding taxes) [Default option]

Option (2): Liquidate / sell shares with unspecified price.

Option (3): Transfer shares to a firm that will be able to handle the conversion to new shares (CUSIP 09262J102). Please also provide complete recipient information including name of broker, account number and account name (The name on your account with the other broker must match your Futu HK account name.)

The deadline to submit an option to the offer will be 08/11/2024@ 16:00 (HONG KONG TIME GMT+8).

Please fill in the following information and use the registered email address of Futu to send an email to cs@futuhk.com.

1. Account Number:
2. Name: (In Chinese or English)
3. Stock code: MUI.US
4. Options: (1) or (2) or (3)
5. Number of shares participating in corporate actions:

Note to applicants:
1. For shareholders holding less than 1 share of MUI.US, they cannot participate in related corporate actions.
2. Option (1) is the default option (no need to reply to the email). If you do not reply to the email, the default option will be selected on the above corporate action deadline.
3. Once the relevant application is submitted, the stocks participating in the company's actions cannot be traded and the application cannot be withdrawn.
4. This corporate action does not accept additional applications, the maximum number of applications that a client can apply for does not exceed the number of eligible shares it holds.
5. The pending orders and unsettled shares will not be accepted for the time being.
6. Please confirm that the account funds are sufficient to pay the relevant fees of this corporate action. Otherwise, we will not bear any responsibility for the failure of your application.
7. If there is any update, all the information released by the listed company shall prevail.

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