Company: VKI
Filing Date: 2025-11-07
Form Type: N-CSRS
Source: 0001193125-25-271162
Chunk: 6

Company: Invesco Advantage Municipal Income Trust II
Filing Date: 2025-11-07
Form: N-CSRS
Chunk 6
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 $331,681 |   |     |              |     | $302,755 |      |     |              |     | $294,885 |    |     |      |     | $334,615 |    |     |      |     | $347,568 |   |
| Liquidating preference per preferred share                                                         |     |                  |     | $100,000 |      |     |              |     | $100,000 |   |     |              |     | $100,000 |      |     |              |     | $100,000 |    |     |      |     | $100,000 |    |     |      |     | $100,000 |   |

| (a) | Calculated using average shares outstanding. |

| (b) | Includes adjustments in accordance with accounting principles generally accepted in the United States of America and as such, the net asset value for financial reporting purposes and the returns based upon those net asset values may differ from the net asset value and returns for shareholder transactions. Not annualized for periods less than one year, if applicable. |

| (d) | Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Trust’s dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated. Not annualized for periods less than one year, if applicable. |

| (e) | Portfolio turnover is not annualized for periods less than one year, if applicable. |

| (f) | Annualized. |

| (g) | Calculated by subtracting the Trust’s total liabilities (not including preferred shares, at liquidation value) from the Trust’s total assets and dividing this by the total number of preferred shares outstanding. |

See accompanying Notes to Financial Statements which are an integral part of the financial statements.

| 24 |     | Invesco Advantage Municipal Income Trust II |

Notes to Financial Statements August 31, 2025 (Unaudited) NOTE 1–Significant Accounting Policies Invesco Advantage Municipal Income Trust II (the “Trust”) is a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a closed-end management investment company. The Trust’s investment objective is to provide common shareholders with a high level of current income exempt from federal income tax, consistent with preservation of capital. The Trust