Company: RFMZ
Filing Date: 2025-03-31
Form Type: N-2/A
Source: 0001398344-25-006257
Chunk: 13

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-03-31
Form: N-2/A
Chunk 13
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 portion of the Underlying Funds’ fees attributable to the        
 Fund’s investments in shares of the Underlying Funds. The 2.06% 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 39.65% of Managed Assets, assuming interest and fees on    
 leverage of 2.44%. 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 directly or indirectly.

<div align='center'>FINANCIAL HIGHLIGHTS</div>

The Fund’s “Financial Highlights” and the report of the Fund’s independent registered public accounting firm, Cohen & Company, Ltd. ("Cohen"), thereon, contained in the following document filed by the Fund with the SEC, is hereby incorporated by reference into this Prospectus: the annual report for the year ended June 30, 2024 contained in the Fund’s Form N-CSRfiled with the SEC on September 6, 2024. The Fund’s “Financial Highlights” contained in the following document filed by the Fund with the SEC, is also hereby incorporated by reference into this Prospectus: the semi-annual report for the six-months ended December