Company: RFMZ
Filing Date: 2025-09-05
Form Type: N-CSR
Source: 0001398344-25-017693
Chunk: 41

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 41
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, Inc.

| (6) | As of the date of this report, the Fund has not issued any Preferred Shares. The applicable prospectus 
 supplement will set forth the expense related to any Preferred Shares issued in the future.            |

| (7) | The “Acquired fund fees and expenses” disclosed above are based on the expense ratios for                                                    
 the most recent fiscal year of the Underlying Funds in which the Fund has invested, which may change substantially over time and, therefore, 
 significantly affect “Acquired fund fees and expenses.” These amounts are based on the total expense ratio disclosed in each                 
 Underlying Fund’s most recent shareholder report. “Acquired fund fees and expenses” are not charged directly to the                          
 Fund, but rather reflect the estimated pro rata portion of the Underlying Funds’ fees attributable to the Fund’s investments                 
 in shares of the Underlying Funds. The 2.32% shown as “Acquired fund fees and expenses” reflects estimated operating expenses                
 of the Underlying Funds and transaction-related fees. Certain Underlying Funds in which the Fund intends to invest generally charge a        
 management fee of 1.00% to 2.00%, which are included in “Acquired fund fees and expenses,” as applicable. Acquired fund fees                 
 and expenses are borne indirectly by the Fund, but they are not reflected in the Fund’s financial statements; and the information            
 presented in the table will differ from that presented in the Fund’s financial highlights.                                                   |

| (8) | The example does not include sales load or estimated offering costs. The example should not be considered                                   
 a representation of future expenses. The example assumes that the estimated “Other expenses” set forth in the table are accurate            
 and that all dividends and distributions are reinvested at net asset value (“NAV”) and that the Fund is engaged in leverage                 
 of 41.40% of Managed Assets, assuming interest and fees on leverage of 3.61%. The interest and fees on leverage is expressed as an interest 
 rate and represents interest and fees payable on borrowings, as well as interest and fees payable for the Fund’s TOB transactions.          
 Actual expenses may be greater or less than those shown. Moreover, the Fund’s actual rate of return may be greater or less than             
 the hypothetical 5% annual return shown in the example.                                                                                     |

The purpose of the table and the example above
is to help investors understand the fees and expenses that they, as Common Shareholders, would bear