Company: RFMZ
Filing Date: 2025-09-05
Form Type: N-CSR
Source: 0001398344-25-017693
Chunk: 59

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 59
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 Common Shares may have an adverse effect on prices in the secondary market for the Fund’s Common
Shares by increasing the number of Common Shares available, which may put downward pressure on the market price for the Fund’s Common
Shares.

The Fund may (but is not obligated to) take action
to repurchase shares in the open market or make tender offers for its shares at or near NAV. During the pendency of any tender offer,
the Fund will publish how Common Shareholders may readily ascertain the NAV. Repurchase of the Common Shares may have the effect of reducing
any market discount to NAV. There is no assurance that, if action is undertaken to repurchase or tender for shares, such action will result
in the shares trading at a price which approximates their NAV.

RiverNorth Flexible Municipal Income Fund II, Inc.

The following table sets forth for each of the
periods indicated the high and low closing market prices for Common Shares of the Fund on the NYSE, the NAV per share and the premium
or discount to NAV per share at which the Fund’s Common Shares were trading. NAV is determined daily as of the close of regular
trading on the NYSE (normally 4:00 p.m. Eastern Time).

| Quarter Ended      
 March 31, 2021     | MARKET PRICE(1) 
            High 
          $20.35 |    Low 
 $20.00 | NET ASSET VALUE (2) 
                High 
              $20.00 |    Low 
 $20.04 | PREMIUM/(DISCOUNT)    
 TO NET ASSET VALUE(3) 
 High                  
 1.75%                 | Low     
 -0.20%  |
|:-------------------|----------------:|-------:|--------------------:|-------:|:----------------------|:--------|
| June 30, 2021      |          $20.79 | $19.94 |              $20.89 | $20.47 | -0.48%                | -2.58%  |
| September 30, 2021 |          $21.85 | $20.18 |              $20.52 | $20.39 | 6.48%                 | -1.03%  |
| December 31, 2021  |          $20.97 | $19.38 |              $19.98 | $20.15 | 4.93%                 | -3.82%  |
| March