Company: RFMZ
Filing Date: 2025-09-05
Form Type: N-CSR
Source: 0001398344-25-017693
Chunk: 11

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-09-05
Form: N-CSR
Chunk 11
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 %  |     |   |          1.72 | % |     |   |          2.85 | % |     |   |          2.31 | %  |     |   |             0.68 | %(f) |
|   |          2.39 | %  |     |   |          2.36 | % |     |   |          2.33 | % |     |   |          2.05 | %  |     |   |             1.81 | %(f) |
|   |          5.04 | %  |     |   |          4.39 | % |     |   |          4.88 | % |     |   |          2.80 | %  |     |   |             0.87 | %(f) |
|   |            19 | %  |     |   |            53 | % |     |   |            92 | % |     |   |           205 | %  |     |   |               67 | %(e) |

See Notes to Financial Statements.

RiverNorth Flexible Municipal Income Fund II, Inc.

| Financial Highlights | For a share outstanding throughout the periods presented |

| (a) | Calculated using average shares throughout the period. |

| (b) | Total investment return is calculated assuming a purchase of                                                                                   
 common shares at the opening on the first day and a sale at closing on the last day of each period reported. For purposes of this calculation, 
 dividends and distributions, if any, are assumed to be reinvested at prices obtained under the Fund’s dividend reinvestment plan.              
 Total investment returns do not reflect brokerage commissions, if any. Total return on Market Price does not reflect any sales load paid       
 by investors. Period less than one year are not annualized.                                                                                    |

| (c) | Interest expense relates to interest expense on loan payable  
 and the cost of tender option bond transactions (See Note 2). |

| (d) | The ratios exclude the impact of income and expenses of the underlying         
 funds in which the Fund invests as represented in the Schedule of Investments. |

| (e) | Not annualized. |

| (f) | Annualized. |

See Notes to Financial Statements.

| 22 | (888) 848-7569 | www.rivernorth.com |

RiverNorth Flexible Municipal Income Fund II, Inc.

1. OR