Company: RFMZ
Filing Date: 2025-05-21
Form Type: 424B5
Source: 0001398344-25-009954
Chunk: 16

Company: RiverNorth Flexible Municipal Income Fund II, Inc.
Filing Date: 2025-05-21
Form: 424B5
Chunk 16
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 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 should not be considered a representation of future                                                                        
 expenses and includes the expenses of the offering. The example assumes that the estimated “Other expenses” set forth in               
 the table are accurate and that all dividends and distributions are reinvested at the Common Share 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 the Fund’s borrowings, as well as interest and fees payable for        
 the Fund's tender option bond transactions. Actual expenses may be greater or less than those assumed. 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.
For additional information with respect to the Fund’s expenses, see “Management of the Fund” on page 24 of the accompanying
Prospectus.

| S-6 |

<div align='center'>MARKET AND NET ASSET VALUE INFORMATION</div>

The Fund’s Common Shares
are listed on the NYSE under the symbol “RFMZ.” The Fund’s Common Shares commenced trading on the NYSE in February 2021.

The Fund’s Common Shares
have traded both at a premium and a discount to NAV. The Fund cannot predict whether the Common Shares will trade in the future at a premium
or discount to NAV. The provisions of the 1940 Act generally require that the public offering price of Common Shares (less any underwriting
commissions and discounts) must equal or exceed the NAV per share of a company’s common stock (calculated within 48 hours of pricing).
The Fund’s issuance of Common Shares may have an adverse effect on prices in the secondary market for the Fund’s Common Shares
by increasing the number of Common Shares available, which may put downward pressure on the market price