Company: RFMZ
Filing Date: 2025-03-31
Form Type: N-2/A
Source: 0001398344-25-006257
Chunk: 11

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-03-31
Form: N-2/A
Chunk 11
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03%                                   |
| Acquired                   
 fund fees and expenses (7) | 2.06%                                   |
| Total                      
 annual expenses            | 6.82%                                   |

| (2) | 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 outstanding during the period as described in footnote (5). With leverage, Managed Assets are greater in amount           
 than net assets, because Managed Assets include assets attributable to the Fund’s use of leverage created by its borrowings                 
 and tender option bond transactions. In addition, the mark-to-market value of the Fund’s derivatives will be used for purposes              
 of calculating Managed Assets. The management fee of 1.40% of the Fund’s Managed Assets represents 2.26% of net assets                      
 attributable to Common Shares assuming the use of leverage in an amount of 39.68% of the Fund’s Managed Assets.                             |
| (3) | The actual amount of interest expense borne by the Fund will vary over time in accordance with the level of the Fund’s use of               
 leverage and variations in market interest rates. See “Use of Leverage.”                                                                    |
| (4) | The “Leverage Costs” include the expenses associated with the Fund’s tender option bond (“TOB”) transactions,                               
 including remarketing, administration and trustee services to a TOB issuer.                                                                 |
| (5) | Interest and fees on leverage in the table reflect the cost to the Fund of borrowings and TOB transactions, expressed as a percentage       
 of the Fund’s net assets as of December 31, 2024, based on interest rates in effect as of December 31, 2024. The table assumes the          
 use of leverage from borrowings and the proceeds