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MFS High Yield Municipal Trust Commences Tender Offer

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MFS High Yield Municipal Trust (CMU) initiates cash tender offer for common shares
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  • The Fund is offering to purchase up to 10% of its outstanding common shares at a price per share equal to 98% of the Fund's net asset value per share
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BOSTON--(BUSINESS WIRE)-- MFS® High Yield Municipal Trust (the “Fund”) (NYSE: CMU) today commenced a cash tender offer for the Fund’s common shares. The Fund is offering to purchase up to 10% of the Fund’s outstanding common shares (the “Shares”) at a price per Share equal to 98% of the Fund’s net asset value (“NAV”) per Share calculated as of the close of regular trading on the New York Stock Exchange on the date the offer expires. The tender offer will expire at 5:00 P.M., Eastern Standard Time on November 6, 2023, unless extended. The pricing date will also be November 6, 2023, unless the tender offer is extended. If the number of shares tendered exceeds the maximum amount of the offer, the Fund will purchase shares from tendering shareholders on a pro rata basis.

The tender offer is being made on the terms and subject to the conditions set forth in the Fund’s tender offer statement on Schedule TO (including an offer to purchase, a related letter of transmittal and other offer documents) that have been filed with the U.S. Securities and Exchange Commission (the “SEC”). All of these documents contain important information about the tender offer. Shareholders of the Fund are urged to read them carefully before any decision is made with respect to the offer. Shareholders of the Fund can obtain a free copy of each of these documents at the SEC’s website at www.sec.gov or from the Fund by calling Georgeson LLC, the Fund’s information agent for the tender offer, at 1-866-541-3547. This press release is not a recommendation, an offer to purchase, or a solicitation of an offer to sell shares of the Fund and is not a prospectus, circular or representation intended for use in the purchase or sale of Fund shares.

About the Fund

The Fund is a closed-end investment company product advised by MFS Investment Management. Closed end funds, unlike open-end funds, are not continuously offered. Except pursuant to a Tender Offer, common shares of the Fund are only available for purchase/sale on the NYSE at the current market price. Shares may trade at a discount to NAV. Shares of the Fund are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Shares of the Fund involve investment risk, including possible loss of principal. For more complete information about the Fund, including risks, charges, and expenses, please see the Fund's annual and semi-annual shareholder reports or contact your financial adviser.

About MFS Investment Management

In 1924, MFS launched the first U.S. 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 September 30, 2023, MFS manages $555.9 billion in assets on behalf of individual and institutional investors worldwide. Please visit mfs.com for more information.

For Immediate Release Media contacts: Dan Flaherty, +1 617.954.4256

For shareholders/advisors: Jeffrey Schwarz, +1 617.954.5872

Source: MFS® High Yield Municipal Trust

FAQ

What is MFS High Yield Municipal Trust (CMU)?

MFS High Yield Municipal Trust (CMU) is a fund that has initiated a cash tender offer for its common shares.

What is the price per share for the tender offer?

The price per share for the tender offer is equal to 98% of the Fund's net asset value per share.

When does the tender offer expire?

The tender offer expires at 5:00 P.M., Eastern Standard Time on November 6, 2023, unless extended.

Where can shareholders obtain the tender offer documents?

Shareholders can obtain a free copy of the tender offer documents at the SEC's website or by calling Georgeson LLC, the Fund's information agent.

Is this press release a recommendation to purchase or sell shares of the Fund?

No, this press release is not a recommendation, offer, or solicitation for the purchase or sale of Fund shares.

MFS High Yield Municipal Trust

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