MFS Municipal Closed-End Funds Announce Closing Date for Reorganization and Change of Investment Adviser

MFS Investment Management ("MFS") announced today that the reorganization of MFS High Income Municipal Trust (NYSE:CXE), MFS High Yield Municipal Trust (NYSE:CMU), and MFS Investment Grade Municipal Trust (NYSE:CXH) (each a "Target Fund" and collectively, the "Target Funds") into MFS Municipal Income Trust (NYSE:MFM) (the "Surviving Fund") (each a "Reorganization" and collectively, the "Reorganizations") will be completed by the open of business on the New York Stock Exchange ("NYSE") on Monday, June 8, 2026, subject to the satisfaction of certain closing conditions.

To facilitate the Reorganizations, all shares of each Target Fund will cease trading on the NYSE as of market close on Friday, June 5, 2026, and each Target Fund's shareholders will be issued newly issued common shares of the Surviving Fund. The aggregate net asset value ("NAV") of such shares will equal the aggregate NAV (not the market value) of the common shares of the Target Fund held immediately prior to the applicable Reorganization.

The Remarketed Variable Rate MuniFund Preferred Shares, Series 2051 ("Series 2051 RVMTP Shares") of CXE, CMU and CXH offered in a private offering in July 2021 will receive an equal Series 2051 RVMTP Share of MFM at closing. Following the closing, MFM will have 2,241 issued shares of Series 2051 RVMTP Shares with an aggregate liquidation preference of $224,100,000.

Prior to open of business on the NYSE on Monday, June 8, 2026, abrdn Inc. ("Aberdeen") will replace MFS as the Surviving Fund's investment adviser and five new trustees will be appointed to the Surviving Fund's Board of Trustees and the Surviving Fund's current trustees will resign.

Upon closing it is intended that the Surviving Fund name will be changed from "MFS Municipal Income Trust" to "Aberdeen Municipal Income Fund."

Cautionary Statement Regarding Forward-Looking Statements

This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within The Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue," or other similar words. Such forward-looking statements are based on the fund's current plans and expectations, are not guarantees of future results or performance, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements are as of the date of this release only; the funds undertake no obligation to update or review any forward-looking statements. You are urged to carefully consider all such factors.

About the Funds

The funds are closed-end investment company products advised by MFS Investment Management. Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, common shares of the funds are bought and sold in the open market through a stock exchange. Shares may trade at a discount to the net asset value per share. Shares of the funds are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Shares of the funds involve investment risk, including possible loss of principal.

About MFS Investment Management

In 1924, MFS launched the first US open-end mutual fund, opening the door to the markets for millions of everyday investors. Today, as a full-service global investment manager serving financial advisors, intermediaries and institutional clients, MFS still serves a single purpose: to create long term value for clients by allocating capital responsibly. That takes our powerful investment approach combining collective expertise, thoughtful risk management and long-term discipline. Supported by our culture of shared values and collaboration, our teams of diverse thinkers actively debate ideas and assess material risks to uncover what we believe are the best investment opportunities in the market. As of April 30, 2026, MFS had approximately $650.7 billion in assets under management.

MFS Investment Management

111 Huntington Ave., Boston, MA 02199

68425.1

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Media Contact: Dan Flaherty, +1 617.954.4256

For Shareholders/Advisors: Brian Mastrullo, +1 617.954.7940