Company: RFMZ
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009954
Chunk: 14

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-05-21
Form: 424B5
Chunk 14
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 the offering, assuming (1) payment in year 1 of a commission of
1.00% on the investment and estimated offering costs of $84,995, (2) “Total annual expenses” of 6.82% of net assets in years
1 through 10, and (3) a 5% annual return.

|                         | 1 year | 3 years | 5 years | 10 years |
| Total Expenses Incurred |    $67 |    $197 |    $322 |     $616 |

The example should not be considered a representation of future expenses. Actual expenses may be greater or less than those assumed.

| (1) | Represents the estimated maximum commission with respect to the                                                                              
 Common Shares being sold under this Prospectus Supplement and the accompanying Prospectus. There is no guarantee that there will be any      
 sales of Common Shares under this Prospectus Supplement and the accompanying Prospectus. Actual sales of Common Shares under this Prospectus 
 Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition,                 
 the price per Common Share of any such sale may be greater or less than the price set forth under “Capitalization” above,                    
 depending on market price of the Common Shares at the time of any such sale.                                                                 |

| (2) | There will be no brokerage charges with respect to Common Shares                                                                         
 issued directly by the Fund under the dividend reinvestment plan. You may pay brokerage charges in connection with open market purchases 
 or if you direct the plan agent to sell your Common Shares held in a dividend reinvestment account.                                      |

| (3) | The management fee paid by                                                                                                                
 the Fund to the Adviser is essentially an all-in fee structure (the “unified management fee”), including the fee paid to                  
 the Adviser for advisory, supervisory, administrative, shareholder servicing and other services. However, the Fund (and not the Adviser)  
 will be responsible for certain additional fees and expenses, which are reflected in the table above, that are not covered by the unified 
 management fee. The unified management fee also includes fees payable by the Adviser to the Subadviser for advisory services. The unified 
 management fee is charged as a percentage of the Fund’s average daily Managed Assets, as opposed to net assets. The Fund’s                
 Managed Assets for the period represents the average daily net assets for the six-month period ended December 31, 2024 plus the leverage