Company: RFMZ
Filing Date: 2025-03-07
Form Type: N-CSRS
Source: 0001398344-25-005064
Chunk: 24

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-03-07
Form: N-CSRS
Chunk 24
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 wholly-owned subsidiary of SS&C Technologies Holdings, Inc., a publicly traded company listed
on the NASDAQ Global Select Market. The fees of DST Systems, Inc. are paid by the Adviser, not the Fund.

State Street Bank & Trust, Co. serves as the
Fund’s custodian. The fees of State Street Bank & Trust, Co. are paid by the Adviser, not the Fund.

The Fund pays no salaries or compensation to its
officers or to any interested Director employed by the Adviser or Sub-Adviser, and the Fund has no employees. For their services, the
Directors of the Fund who are not employed by the Adviser or Sub-Adviser, receive an annual retainer in the amount of $16,500, an additional
$2,000 for attending each quarterly meeting of the Board and an additional fee of $1,500 for each special meeting of the Board. In addition,
the lead Independent Director receives $1,333 annually, the Chair of the Audit Committee receives $1,111 annually and the Chair of the
Nominating and Corporate Governance Committee receives $667 annually. The Directors not employed by the Adviser or Sub-Adviser are also
reimbursed for all reasonable out-of-pocket expenses relating to attendance at meetings of the Board. These fees are paid by the Adviser,
not the Fund.

| 32 | (888) 848-7569 | www.rivernorth.com |

RiverNorth Flexible Municipal Income Fund II, Inc.

The Chief Compliance Officer (“CCO”)
of the Fund is an employee of the Adviser. The Fund reimburses the Adviser for certain compliance costs related to the Fund, including
a portion of the CCO’s compensation.

6. NEW ACCOUNTING PRONOUNCEMENTS AND RULE ISSUANCES

In this reporting period, the Fund adopted FASB
Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (“ASU 2023-07”).
Adoption of the new standard impacted disclosures only and did not affect the Fund’s financial position nor the results of its operations.
An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize
revenues and incur expenses, has operating results that are regularly reviewed by a public entity’s chief operating decision maker
(the “CODM”) to make decisions about resources to be allocated