# EDGAR Filing Document

**Accession Number:** 0000880709
**File Stem:** 0000880709-26-000015
**Filing Date:** 2026-1
**Character Count:** 130225
**Document Hash:** 4027f7e1f02aa434e108f6b091725f3e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000880709-26-000015.hdr.sgml**: 20260122

**ACCESSION NUMBER**: 0000880709-26-000015

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 23

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260122

**DATE AS OF CHANGE**: 20260122

**EFFECTIVENESS DATE**: 20260122

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COURT STREET TRUST II
- **CENTRAL INDEX KEY:** 0000880709

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06453
- **FILM NUMBER:** 26550268

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity New Jersey Municipal Money Market Fund (Formerly known as Fidelity New Jersey AMT Tax-Free Money Market Fund) (Series ID: S000006052)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000016621 | Premium Class                                   | FSJXX           |
| C000047920 | Institutional Class                             | FSKXX           |
| C000238265 | Fidelity New Jersey Municipal Money Market Fund | FAYXX           |

?xml version='1.0' encoding='ASCII'? Prospectus - Investment Objective

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number <u>811-06453</u>

<u>Fidelity Court Street Trust II</u>

(Exact name of registrant as specified in charter)

<u>245 Summer St., Boston, Massachusetts 02210</u>

(Address of principal executive offices) &nbsp;&nbsp;&nbsp;&nbsp; (Zip code)

Nicole Macarchuk, Secretary

245 Summer St.

<u>Boston, Massachusetts 02210</u>

(Name and address of agent for service)

Registrant's telephone number, including area code:

<u>617-563-7000</u>

---

| | |
|:---|:---|
| &nbsp;&nbsp;Date of fiscal year end: | &nbsp;&nbsp;November 30 |
| &nbsp;&nbsp;Date of reporting period: | &nbsp;&nbsp;November 30, 2025 |

---

Item 1.

<u>Reports to Stockholders</u>

---

| |
|:---|
| **ANNUAL SHAREHOLDER REPORT \|** AS OF NOVEMBER 30, 2025 |
| Fidelity® New Jersey Municipal Money Market Fund<br> **Fidelity® New Jersey Municipal Money Market Fund : FAYXX** <br>|

---

This annual shareholder report contains information about Fidelity® New Jersey Municipal Money Market Fund for the period December 1, 2024 to November 30, 2025. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last year?**

(based on hypothetical $10,000 investment)

**FUND COST (PREVIOUS YEAR)**

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Fidelity® New Jersey Municipal Money Market Fund  | $42  | 0.42% |

---

**Key Fund Statistics**

(as of November 30, 2025)

---

| | |
|:---|:---|
| **KEY FACTS**<br>|  |
| Fund Size | $1304669443<br>|
| Number of Holdings | 147<br>|
| Total Advisory Fee | $2455585<br>|

---

**What did the Fund invest in?** (as of November 30, 2025)

---

| | |
|:---|:---|
| **EFFECTIVE MATURITY DIVERSIFICATION**<br> **(% of Fund's net assets)** | **EFFECTIVE MATURITY DIVERSIFICATION**<br> **(% of Fund's net assets)** |
| <br> Days | <br> Days |
| 1-7 | 73.4 |
| 8-30 | 2.9 |
| 31-60 | 6.5 |
| 61-90 | 1.3 |
| 91-180 | 5.8 |
| >180 | 9.7 |

---

---

| | |
|:---|:---|
| Variable Rate Demand Notes (VRDNs) | 34.2 |
| Tender Option Bond | 25.5 |
| Municipal Securities | 22.1 |
| Commercial Paper | 3.3 |
| Net Other Assets (Liabilities) | 14.9 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img423_20251130_AA.jpg) <br>|

---

---

| |
|:---|
| Variable Rate Demand Notes (VRDNs) - 34.2 |
| Tender Option Bond - 25.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Municipal Securities - 22.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Commercial Paper - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Net Other Assets (Liabilities) - 14.9  |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img423_20251130_1.jpg)<br>| ![](img120919_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9914089.101 6960-TSRA-0126 <br>|

---

---

| |
|:---|
| **ANNUAL SHAREHOLDER REPORT \|** AS OF NOVEMBER 30, 2025 |
| Fidelity® New Jersey Municipal Money Market Fund<br> **Fidelity® New Jersey Municipal Money Market Fund Premium Class : FSJXX** <br>|

---

This annual shareholder report contains information about Fidelity® New Jersey Municipal Money Market Fund for the period December 1, 2024 to November 30, 2025. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last year?**

(based on hypothetical $10,000 investment)

**FUND COST (PREVIOUS YEAR)**

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Premium Class  | $30  | 0.30% |

---

**Key Fund Statistics**

(as of November 30, 2025)

---

| | |
|:---|:---|
| **KEY FACTS**<br>|  |
| Fund Size | $1304669443<br>|
| Number of Holdings | 147<br>|
| Total Advisory Fee | $2455585<br>|

---

**What did the Fund invest in?** (as of November 30, 2025)

---

| | |
|:---|:---|
| **EFFECTIVE MATURITY DIVERSIFICATION**<br> **(% of Fund's net assets)** | **EFFECTIVE MATURITY DIVERSIFICATION**<br> **(% of Fund's net assets)** |
| <br> Days | <br> Days |
| 1-7 | 73.4 |
| 8-30 | 2.9 |
| 31-60 | 6.5 |
| 61-90 | 1.3 |
| 91-180 | 5.8 |
| >180 | 9.7 |

---

---

| | |
|:---|:---|
| Variable Rate Demand Notes (VRDNs) | 34.2 |
| Tender Option Bond | 25.5 |
| Municipal Securities | 22.1 |
| Commercial Paper | 3.3 |
| Net Other Assets (Liabilities) | 14.9 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img423_20251130_AA.jpg) <br>|

---

---

| |
|:---|
| Variable Rate Demand Notes (VRDNs) - 34.2 |
| Tender Option Bond - 25.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Municipal Securities - 22.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Commercial Paper - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Net Other Assets (Liabilities) - 14.9  |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img423_20251130_1.jpg)<br>| ![](img120920_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9914088.101 423-TSRA-0126 <br>|

---

---

| |
|:---|
| **ANNUAL SHAREHOLDER REPORT \|** AS OF NOVEMBER 30, 2025 |
| Fidelity® New Jersey Municipal Money Market Fund<br> **Fidelity® New Jersey Municipal Money Market Fund Institutional Class : FSKXX** <br>|

---

This annual shareholder report contains information about Fidelity® New Jersey Municipal Money Market Fund for the period December 1, 2024 to November 30, 2025. You can find additional information about the Fund at **fundresearch.fidelity.com/prospectus/sec**. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.

**What were your Fund costs for the last year?**

(based on hypothetical $10,000 investment)

**FUND COST (PREVIOUS YEAR)**

---

| | | |
|:---|:---|:---|
|  | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment**  |
| Institutional Class  | $20  | 0.20% |

---

**Key Fund Statistics**

(as of November 30, 2025)

---

| | |
|:---|:---|
| **KEY FACTS**<br>|  |
| Fund Size | $1304669443<br>|
| Number of Holdings | 147<br>|
| Total Advisory Fee | $2455585<br>|

---

**What did the Fund invest in?** (as of November 30, 2025)

---

| | |
|:---|:---|
| **EFFECTIVE MATURITY DIVERSIFICATION**<br> **(% of Fund's net assets)** | **EFFECTIVE MATURITY DIVERSIFICATION**<br> **(% of Fund's net assets)** |
| <br> Days | <br> Days |
| 1-7 | 73.4 |
| 8-30 | 2.9 |
| 31-60 | 6.5 |
| 61-90 | 1.3 |
| 91-180 | 5.8 |
| >180 | 9.7 |

---

---

| | |
|:---|:---|
| Variable Rate Demand Notes (VRDNs) | 34.2 |
| Tender Option Bond | 25.5 |
| Municipal Securities | 22.1 |
| Commercial Paper | 3.3 |
| Net Other Assets (Liabilities) | 14.9 |

---

---

| |
|:---|
| **ASSET ALLOCATION (% of Fund's net assets)** |
| ![](img423_20251130_AA.jpg) <br>|

---

---

| |
|:---|
| Variable Rate Demand Notes (VRDNs) - 34.2 |
| Tender Option Bond - 25.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Municipal Securities - 22.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Commercial Paper - 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;  |
| Net Other Assets (Liabilities) - 14.9  |

---

---

| | | |
|:---|:---|:---|
| Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. | Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners.© 2026 FMR LLC. All rights reserved. |
| ![](img423_20251130_1.jpg)<br>| ![](img120921_2.jpg) | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit **fundresearch.fidelity.com/prospectus/sec**<br> 1.9914087.101 1870-TSRA-0126 <br>|

---

Item 2.

<u>Code of Ethics</u>

As of the end of the period, November 30, 2025, Fidelity Court Street Trust II (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

Item 3.

<u>Audit Committee Financial Expert</u>

The Board of Trustees of the trust has determined that Laura M. Bishop is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Ms. Bishop is independent for purposes of Item 3 of Form N-CSR.

Item 4.

<u>Principal Accountant Fees and Services</u>

<u>Fees and Services</u>

The following table presents fees billed by PricewaterhouseCoopers LLP ("PwC") in each of the last two fiscal years for services rendered to Fidelity New Jersey Municipal Money Market Fund (the "Fund"):

**<u>Services Billed by PwC</u>**

**<u>November 30, 2025 Fees</u><sup>A</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Audit Fees** | &nbsp;&nbsp;**Audit-Related Fees** | &nbsp;&nbsp;**Tax Fees** | &nbsp;&nbsp;**All Other Fees** |
| &nbsp;&nbsp;Fidelity New Jersey Municipal Money Market Fund | &nbsp;&nbsp;$40300  | &nbsp;&nbsp;$1800  | &nbsp;&nbsp;$2200  | &nbsp;&nbsp;$700  |

---

**<u>November 30, 2024 Fees</u><sup>A</sup>**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Audit Fees** | &nbsp;&nbsp;**Audit-Related Fees** | &nbsp;&nbsp;**Tax Fees** | &nbsp;&nbsp;**All Other Fees** |
| &nbsp;&nbsp;Fidelity New Jersey Municipal Money Market Fund | &nbsp;&nbsp;$39200  | &nbsp;&nbsp;$3000  | &nbsp;&nbsp;$2100  | &nbsp;&nbsp;$1300  |

---

<sup>A</sup> Amounts may reflect rounding.

The following table(s) present(s) fees billed by PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) ("Fund Service Providers"):

**<u>Services Billed by PwC</u>**

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**<u>November 30, 2025</u><sup>A</sup>** | &nbsp;&nbsp;**<u>November 30, 2024</u><sup>A</sup>** |
| &nbsp;&nbsp;Audit-Related Fees | &nbsp;&nbsp;$8914100  | &nbsp;&nbsp;$9701800  |
| &nbsp;&nbsp;Tax Fees | &nbsp;&nbsp;$1000  | &nbsp;&nbsp;$61000  |
| &nbsp;&nbsp;All Other Fees | &nbsp;&nbsp;$-  | &nbsp;&nbsp;$35000  |

---

<sup>A</sup> Amounts may reflect rounding.

"Audit-Related Fees" represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.

"Tax Fees" represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.

"All Other Fees" represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.

Assurance services must be performed by an independent public accountant.

\* \* \*

The aggregate non-audit fees billed by PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**<u>Billed By</u>** | &nbsp;&nbsp;**<u>November 30, 2025</u><sup>A</sup>** | &nbsp;&nbsp;**<u>November 30, 2024</u><sup>A</sup>** |
| &nbsp;&nbsp;PwC | &nbsp;&nbsp;$13756300  | &nbsp;&nbsp;$15297500  |

---

<sup>A</sup> Amounts may reflect rounding.

The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by PwC to Fund Service Providers to be compatible with maintaining the independence of PwC in its(their) audit of the Fund(s), taking into account representations from PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR's review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.

<u>Audit Committee Pre-Approval Policies and Procedures</u>

The trust's Audit Committee must pre-approve all audit and non-audit services provided by a fund's independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund ("Covered Service") are subject to approval by the Audit Committee before such service is provided.

All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair's absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.

Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.

<u>Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X ("De Minimis Exception")</u>

There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund's(s') last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).

The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board (the "PCAOB") has determined that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.

The Registrant is not a "foreign issuer," as defined in 17 CFR 240.3b-4.

Item 5.

<u>Audit Committee of Listed Registrants</u>

Not applicable.

Item 6.

<u>Investments</u>

(a) Not applicable.

(b) Not applicable.

Item 7.

<u>Financial Statements and Financial Highlights for Open-End Management Investment Companies</u>

**Fidelity® New Jersey Municipal Money Market Fund**

**Annual Report**

**November 30, 2025**

![](img120713_1.jpg)

![](img120713_2.jpg)

**Contents**

---

| |
|:---|
| **[Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Annual Report)](#Sec_Item7_SNJ-ANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Fidelity® New Jersey Municipal Money Market Fund](#Sub_Sec_Fund_423_SNJ-ANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Notes to Financial Statements](#Sub_Sec_NotestoFinancialStatements423_SNJ-ANN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Report of Independent Registered Public Accounting Firm](#Sub_Sec_ReportofIndependentRegisteredPublicAccountingFirm_SNJ-ANN_0)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **[Distributions](#Sub_Sec_Distributions_SNJ-ANN)** |
| **[Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies](#Sec_Item8_SNJ-ANN)** |
| **[Item 9: Proxy Disclosures for Open-End Management Investment Companies](#Sec_Item9_SNJ-ANN)** |
| **[Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies](#Sec_Item10_SNJ-ANN)** |
| **[Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract](#Sec_Item11_SNJ-ANN)** |

---

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.

You may also call 1-800-544-8544, or for Institutional, call 1-877-208-0098, to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company.© 2026 FMR LLC. All rights reserved.

*This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.*

*A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.*

*For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.*

**NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE**

*Neither the Fund nor Fidelity Distributors Corporation is a bank.*

**Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Annual Report)**

**Fidelity® New Jersey Municipal Money Market Fund**

**Schedule of Investments November 30, 2025**

Showing Percentage of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Municipal Securities - 22.1%** | &nbsp;&nbsp;**Municipal Securities - 22.1%** | &nbsp;&nbsp;**Municipal Securities - 22.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Michigan - 0.0%  |  |  |
| Health Care - 0.0% |  |  |
| Kent MI Hosp Fin Auth (Corewell Health Proj.) SIFMA Municipal Swap Index + 0.25%, 3.04% tender 1/15/2047 (b)(c) | 300000 | 300000 |
| New Jersey - 21.1%  |  |  |
| Education - 2.5% |  |  |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2010-1 Proj.) 5% 12/1/2025 (d) | 885000 | 885000 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2018 Proj.) Series 2018 B, 5% 12/1/2025 (d) | 1135000 | 1135000 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) 5% 12/1/2025 (d) | 240000 | 240000 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) Series 2019A, 5% 12/1/2025  | 2120000 | 2120000 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (NJ Stud Loan 2019 Proj.) Series 2020B, 5% 12/1/2025 (d) | 2440000 | 2440000 |
| Higher Ed Student Assistance Auth NJ Student Ln Rev (Nj Stud Loan 2025 Proj.) 5% tender 12/1/2056 (c)(d) | 25000000 | 25146174 |
|  |  | 31966174 |
| General Obligations - 18.3% |  |  |
| Burlington CO NJ Brf Com Lease Rev RAN (Burlington Cnty N J Proj.) 4% 7/31/2026  | 100000 | 100760 |
| Clifton NJ Gen. Oblig. BAN Series 2025 B, 3.75% 8/27/2026  | 10159000 | 10234752 |
| Essex Cnty NJ Gen. Oblig. BAN Series 2025, 4% 7/8/2026  | 6210000 | 6251540 |
| Essex Cnty NJ Impt Auth Lease Gen. Oblig. RAN Series 2025, 5% 3/17/2026  | 12445000 | 12516055 |
| Hoboken NJ BAN 4% 3/10/2026  | 20108699 | 20167813 |
| Holmdel Twp NJ Gen. Oblig. BAN 3.5% 9/18/2026  | 8885000 | 8947081 |
| Hudson Cnty NJ BAN 4% 2/26/2026  | 15626000 | 15672553 |
| Hudson Cnty NJ Impt Auth Lease Rev (Hudson Cnty NJ Proj.) Gen. Oblig. 5% 10/1/2026  | 140000 | 142695 |
| Hudson Cnty NJ Impt Auth Lease Rev BAN 4% 3/12/2026  | 3750000 | 3761943 |
| Hudson Cnty NJ Impt Auth Lease Rev RAN Series B 1, 4% 6/24/2026  | 6341517 | 6378407 |
| Jefferson Twp NJ Gen. Oblig. BAN 4% 6/12/2026  | 7000000 | 7031943 |
| Lakewood NJ Tan Gen. Oblig. BAN Series 2024, 4% 12/18/2025  | 5000000 | 5002419 |
| Livingston Township NJ Bond Gen. Oblig. BAN Series 2024, 4% 12/5/2025  | 11107900 | 11109167 |
| Lyndhurst Twp NJ Gen. Oblig. BAN 3.75% 1/1/2026  | 18382000 | 18395330 |
| Mercer Cnty NJ Gen. Oblig. BAN Series 2025A, 4% 3/31/2026  | 7305000 | 7337241 |
| Middletown Twp NJ Gen. Oblig. BAN Series 2025A, 3.5% 12/8/2026 (e) | 11278287 | 11383513 |
| Monmouth Cnty NJ Impt Auth Rev BAN Series 2025, 4% 3/13/2026  | 9765000 | 9794677 |
| Moorestown Twp NJ Gen. Oblig. BAN Series 2025, 4% 5/20/2026  | 12900000 | 12948318 |
| Morris Township NJ Gen. Oblig. BAN Series 2025, 3.75% 9/24/2026  | 10057000 | 10160765 |
| New Jersey Econom Dev Auth Rev (New Jersey St Proj.) Series B, 5% 11/1/2026  | 2000000 | 2041430 |
| New Jersey Econom Dev Auth Rev (New Jersey St Proj.) Series XX, 4.25% 6/15/2026  | 285000 | 285038 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) Series 2023 RRR, 5% 3/1/2026  | 4635000 | 4660461 |
| New Jersey Economic Dev Auth Rev (New Jersey St Proj.) Series 2024 SSS, 5% 6/15/2026  | 150000 | 151540 |
| New Jersey St Gen. Oblig. 5% 6/1/2026  | 2515000 | 2543553 |
| New Jersey Trans Trust Fund Auth 5% 12/15/2025  | 1300000 | 1301024 |
| New Jersey Trans Trust Fund Auth Series 2018 A, 5% 12/15/2025  | 5000000 | 5004119 |
| New Jersey Trans Trust Fund Auth Series 2022AA, 5% 6/15/2026  | 250000 | 252567 |
| Passaic Cnty NJ Gen. Oblig. BAN 3.5% 10/29/2026  | 12000000 | 12103212 |
| Princeton NJ BAN 4% 2/19/2026  | 1360000 | 1362998 |
| Princeton NJ Gen. Oblig. BAN Series 2024, 3.5% 12/22/2025  | 910000 | 910265 |
| Somerville NJ Gen. Oblig. BAN Series 2025 A, 4% 1/26/2026  | 6434000 | 6442127 |
| Stafford Twp NJ Gen. Oblig. BAN Series 2025A, 3.5% 10/20/2026  | 12000000 | 12100457 |
| Summit N J Gen. Oblig. BAN 4% 7/16/2026  | 480000 | 484027 |
| West Caldwell Twp NJ Gen. Oblig. BAN 3.75% 9/2/2026  | 5000000 | 5042192 |
| West Milford Township NJ Gen. Oblig. BAN 3.75% 9/11/2026  | 5000000 | 5041277 |
| Westfield NJ Sch Dist BAN 4% 9/3/2026  | 235000 | 237148 |
|  |  | 237300407 |
| Health Care - 0.0% |  |  |
| New Jersey Health Care (Rwj Barnabas Health Proj.) 5% tender 7/1/2045 (c) | 950000 | 961268 |
| New Jersey Health Care (Rwj Barnabas Health Proj.) Series 2021 A, 5% 7/1/2026  | 150000 | 151848 |
|  |  | 1113116 |
| Housing - 0.3% |  |  |
| New Jersey St Hsg & Mtg Fin Agy Rev (NJ Single Family Mortgage Proj.) Series 2018B, 3.4% 4/1/2026 (d) | 2335000 | 2331487 |
| NJ Hsg & Mtg Fin Agy Multi Fam Rev (NJ Multi-Family 12/16/04 Proj.) Series 2024 D 2, 2.85% 11/1/2026  | 2000000 | 1999245 |
|  |  | 4330732 |
| TOTAL NEW JERSEY |  | 274710429 |
| New Jersey,New York - 0.1%  |  |  |
| Transportation - 0.1% |  |  |
| Port Auth NY & NJ Series 223, 5% 7/15/2026 (d) | 115000 | 116597 |
| Port Auth NY & NJ Series 243, 5% 12/1/2025  | 575000 | 575000 |
|  |  | 691597 |
| TOTAL NEW JERSEY,NEW YORK |  | 691597 |
| New Jersey,Non-state Specific - 0.9%  |  |  |
| General Obligations - 0.9% |  |  |
| Mount Laurel Twp NJ Gen. Oblig. BAN 3.75% 12/16/2025  | 12236000 | 12240694 |
| <br> **TOTAL MUNICIPAL SECURITIES**<br> (Cost $287,942,720) |  | <br> **287942720** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Tender Option Bond - 25.5%** | &nbsp;&nbsp;**Tender Option Bond - 25.5%** | &nbsp;&nbsp;**Tender Option Bond - 25.5%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Alaska - 0.0%  |  |  |
| Alaska Multi Fam Hsg Auth Chenana Apts Participating VRDN 3.02% 11/21/2027 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 200000 | 200000 |
| Arizona - 0.1%  |  |  |
| Arizona St Indl Dev Auth Multifamily Hsg Rev Participating VRDN Series 2025 MIZ9240, 3.02% 1/1/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 300000 | 300000 |
| Arizona St Indl Dev Auth Multifamily Hsg Rev Participating VRDN Series 2025 MIZ9241, 3.02% 11/2/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 200000 | 200000 |
| Arizona St Indl Dev Auth Multifamily Hsg Rev Participating VRDN Series 2025 MIZ9242, 3.02% 11/2/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 300000 | 300000 |
| TOTAL ARIZONA |  | 800000 |
| Georgia,New Jersey - 0.4%  |  |  |
| New Jersey Edl Facilities Auth Rev Participating VRDN Series 2023 XL0470, 2.82% 9/1/2053 (Liquidity Facility Royal Bank of Canada NY) (c)(f) | 5190000 | 5190000 |
| Illinois - 0.3%  |  |  |
| Illinois Fin Auth Rev Participating VRDN Series 2018 017, 3.08% 8/15/2030 (Liquidity Facility Barclays Bank PLC) (c)(f) | 300000 | 300000 |
| Illinois Hsg Dev Auth Multi Fam Hsg Auth Participating VRDN Series 2025 MIZ9224, 3.02% 8/18/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 3400000 | 3400000 |
| TOTAL ILLINOIS |  | 3700000 |
| Mississippi - 0.1%  |  |  |
| Missippi Multi Family Hsg Rev Participating VRDN Series 2024 MIZ9202, 3.02% 12/4/2027 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 400000 | 400000 |
| Missippi Multi Family Hsg Rev Participating VRDN Series 2024 MIZ9205, 3.02% 7/1/2027 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 300000 | 300000 |
| TOTAL MISSISSIPPI |  | 700000 |
| Missouri - 0.0%  |  |  |
| Kansas City MO Multi Fam Hsg Rev Participating VRDN Series 2025 MIZ9207, 3.02% 1/21/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 300000 | 300000 |
| New Jersey - 22.3%  |  |  |
| Jersey City NJ Mun Utils Auth Participating VRDN Series 2025 007, 2.89% 5/1/2026 (Liquidity Facility Barclays Bank PLC) (c)(f) | 23560000 | 23560000 |
| Middlesex Cnty NJ Impt Auth Lease Rev Participating VRDN 2.82% 8/15/2053 (Liquidity Facility Toronto Dominion Bank NA) (c)(f) | 3200000 | 3200000 |
| Middlesex Cnty NJ Impt Auth Lease Rev Participating VRDN Series 2023 XF3123, 2.8% 8/15/2053 (Liquidity Facility Morgan Stanley Bank NA) (c)(f) | 15000000 | 15000000 |
| Middlesex County Impt Auth Rutgers Univ Participating VRDN 2.82% 8/15/2053 (Liquidity Facility Toronto Dominion Bank NA) (c)(f) | 3110000 | 3110000 |
| New Jersey Econ Dev Auth Participating VRDN 2.82% 11/1/2052 (Liquidity Facility Barclays Bank PLC) (c)(f) | 3750000 | 3750000 |
| New Jersey Econ Dev Auth Participating VRDN Series 2016 XF2393, 2.82% 6/15/2041 (Liquidity Facility Barclays Bank PLC) (c)(f) | 3600000 | 3600000 |
| New Jersey Econ Dev Auth Participating VRDN Series 2017 XL0052, 2.82% 6/15/2042 (Liquidity Facility Barclays Bank PLC) (c)(f) | 1100000 | 1100000 |
| New Jersey Econ Dev Auth Participating VRDN Series 2020 XF2865, 2.82% 11/1/2044 (Liquidity Facility Barclays Bank PLC) (c)(f) | 4500000 | 4500000 |
| New Jersey Econ Dev Auth Rev Participating VRDN 2.82% 6/15/2044 (Liquidity Facility Barclays Bank PLC) (c)(f) | 8165000 | 8165000 |
| New Jersey Health Care Participating VRDN 3.03% 7/1/2043 (Liquidity Facility Barclays Bank PLC) (c)(f) | 7985000 | 7985000 |
| New Jersey Health Care Participating VRDN Series 5085, 2.85% 7/1/2042 (Liquidity Facility JP Morgan Securities LLC) (c)(f) | 45920000 | 45920000 |
| New Jersey Higher Ed Student Assistance Auth Participating VRDN Series 2020 XF0957, 2.85% 12/1/2050 (Liquidity Facility Royal Bank of Canada NY) (c)(d)(f) | 715000 | 715000 |
| New Jersey Housing & Mortgage Finance Agency Participating VRDN Series 2025 MIZ9244, 2.97% 11/24/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 17135000 | 17135000 |
| New Jersey Hsg & Mtg Fin Agcy Participating VRDN Series 2024 BAML6022, 2.92% 10/1/2057 (Liquidity Facility Bank of America, N.A.) (c)(f) | 6727500 | 6727500 |
| New Jersey St Hsg & Mtg Fin Agy Rev Participating VRDN 2.81% 10/1/2044 (Liquidity Facility Barclays Bank PLC) (c)(f) | 8015000 | 8015000 |
| New Jersey St Hsg & Mtg Fin Agy Rev Participating VRDN Series 2019 XG0228, 2.82% 10/1/2048 (Liquidity Facility Royal Bank of Canada NY) (c)(f) | 4965000 | 4965000 |
| New Jersey St Hsg & Mtg Fin Agy Rev Participating VRDN Series 2025 ZF1979, 2.82% 10/1/2045 (Liquidity Facility JP Morgan Chase Bank NA) (c)(f) | 7685000 | 7685000 |
| New Jersey St Transn Tr Fd Aut Participating VRDN 2.88% 6/15/2050 (Liquidity Facility Barclays Bank PLC) (c)(f) | 9500000 | 9500000 |
| New Jersey St Transn Tr Fd Aut Participating VRDN 2.82% 6/15/2055 (Liquidity Facility JP Morgan Chase Bank NA) (c)(f) | 10930000 | 10930000 |
| New Jersey Trans Trust Fund Auth Participating VRDN 2.81% 6/15/2045 (Liquidity Facility Barclays Bank PLC) (c)(f) | 9295000 | 9295000 |
| New Jersey Trans Trust Fund Auth Participating VRDN 2.82% 6/15/2046 (Liquidity Facility Barclays Bank PLC) (c)(f) | 10600000 | 10600000 |
| New Jersey Trans Trust Fund Auth Participating VRDN Series 2018 XG0205, 2.81% 12/15/2034 (Liquidity Facility Barclays Bank PLC) (c)(f) | 700000 | 700000 |
| New Jersey Trans Trust Fund Auth Participating VRDN Series 2023 YX1283, 2.81% 6/15/2045 (Liquidity Facility Barclays Bank PLC) (c)(f) | 7870000 | 7870000 |
| New Jersey Turnpike Authority Participating VRDN 2.82% 1/1/2049 (Liquidity Facility JP Morgan Chase Bank NA) (c)(f) | 3995000 | 3995000 |
| New Jersey Turnpike Authority Participating VRDN 2.82% 1/1/2052 (Liquidity Facility Barclays Bank PLC) (c)(f) | 5580000 | 5580000 |
| New Jersey Turnpike Authority Participating VRDN 2.82% 1/1/2052 (Liquidity Facility Wells Fargo Bank NA) (c)(f) | 10400000 | 10400000 |
| New Jersey Turnpike Authority Participating VRDN Series 2023 ZF3172, 2.82% 1/1/2048 (Liquidity Facility Morgan Stanley Bank NA) (c)(f) | 5000000 | 5000000 |
| New Jersey Turnpike Authority Participating VRDN Series 2024 XG0569, 2.82% 1/1/2054 (Liquidity Facility JP Morgan Chase Bank NA) (c)(f) | 6800000 | 6800000 |
| New Jersey Turnpike Authority Participating VRDN Series 2025 XM1278, 2.82% 1/1/2049 (Liquidity Facility Morgan Stanley Bank NA) (c)(f) | 29900000 | 29900000 |
| New Jersey Turnpike Authority Participating VRDN Series 2025 XX1405, 2.88% 1/1/2055 (Liquidity Facility Barclays Bank PLC) (c)(f) | 2000000 | 2000000 |
| New Jersey Turnpike Authority Participating VRDN Series 2025 XX1406, 2.88% 1/1/2055 (Liquidity Facility Barclays Bank PLC) (c)(f) | 1200000 | 1200000 |
| NJ Hsg & Mtg Fin Agy Multi Fam Rev Participating VRDN Series 2023 YX1314, 2.8% 11/1/2033 (Liquidity Facility Barclays Bank PLC) (c)(d)(f) | 6510000 | 6510000 |
| Union CO NJ Solid Waste Participating VRDN Series 2017 ZF2479, 2.8% 6/15/2041 (Liquidity Facility Morgan Stanley Bank NA) (c)(f) | 5845000 | 5845000 |
| TOTAL NEW JERSEY |  | 291257500 |
| New Jersey,New York - 2.1%  |  |  |
| Port Auth NY & NJ Participating VRDN 2.82% 12/1/2048 (Liquidity Facility Citibank NA) (c)(d)(f) | 1800000 | 1800000 |
| Port Auth NY & NJ Participating VRDN 2.84% 1/15/2047 (Liquidity Facility Bank of America, N.A.) (c)(d)(f) | 1115000 | 1115000 |
| Port Auth NY & NJ Participating VRDN Series 2022 023, 2.88% 11/15/2035 (Liquidity Facility Barclays Bank PLC) (c)(d)(f) | 6405000 | 6405000 |
| Port Auth NY & NJ Participating VRDN Series 2022 XG0377, 2.85% 8/1/2052 (Liquidity Facility Bank of America, N.A.) (c)(d)(f) | 3935000 | 3935000 |
| Port Auth NY & NJ Participating VRDN Series 2022 XG0379, 2.85% 8/1/2052 (Liquidity Facility Bank of America, N.A.) (c)(d)(f) | 1640000 | 1640000 |
| Port Auth NY & NJ Participating VRDN Series 2022 XG0394, 2.85% 7/15/2055 (Liquidity Facility Bank of America, N.A.) (c)(d)(f) | 3325000 | 3325000 |
| Port Auth NY & NJ Participating VRDN Series 2022 YX1178, 2.83% 7/15/2051 (Liquidity Facility Barclays Bank PLC) (c)(d)(f) | 1700000 | 1700000 |
| Port Auth NY & NJ Participating VRDN Series 2022 ZL0270, 2.83% 7/15/2055 (Liquidity Facility Barclays Bank PLC) (c)(d)(f) | 600000 | 600000 |
| Port Auth NY & NJ Participating VRDN Series 2023 XF1622, 2.82% 10/15/2047 (Liquidity Facility Bank of America, N.A.) (c)(f) | 400000 | 400000 |
| Port Auth NY & NJ Participating VRDN Series 2023 XF3184, 2.82% 11/1/2044 (Liquidity Facility Morgan Stanley Bank NA) (c)(d)(f) | 2600000 | 2600000 |
| Port Auth NY & NJ Participating VRDN Series 2023 XG0526, 2.85% 12/1/2053 (Liquidity Facility Bank of America, N.A.) (c)(d)(f) | 2200000 | 2200000 |
| Port Auth NY & NJ Participating VRDN Series 2025 ZF1989, 2.85% 8/1/2052 (Liquidity Facility Bank of America, N.A.) (c)(d)(f) | 600000 | 600000 |
| Port Auth NY & NJ Participating VRDN Series 2025 ZF1991, 2.84% 1/15/2047 (Liquidity Facility Bank of America, N.A.) (c)(d)(f) | 1000000 | 1000000 |
| TOTAL NEW JERSEY,NEW YORK |  | 27320000 |
| New York - 0.2%  |  |  |
| New York Dorm Auth Royal Charter Prop Participating VRDN Series 2025 MIZ9208, 3.02% 3/16/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 2100000 | 2100000 |
| North Carolina - 0.0%  |  |  |
| Raleigh NC Hsg Auth Multi Fam Rev Participating VRDN Series 2025 MIZ9228, 3.02% 8/15/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 600000 | 600000 |
| Oregon - 0.0%  |  |  |
| Oregon Hsg & Cmnty Svcs Dep Participating VRDN 3.02% 1/2/2028 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 200000 | 200000 |
| Pennsylvania - 0.0%  |  |  |
| Pennsylvania Multi Fam Hsg Rev Participating VRDN 3.02% 6/20/2027 (Liquidity Facility Mizuho Capital Markets LLC) (c)(f)(g) | 100000 | 100000 |
| <br> **TOTAL TENDER OPTION BOND**<br> (Cost $332,467,500) |  | <br> **332467500** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Variable Rate Demand Note - 34.2%** | &nbsp;&nbsp;**Variable Rate Demand Note - 34.2%** | &nbsp;&nbsp;**Variable Rate Demand Note - 34.2%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| Alabama - 0.2%  |  |  |
| West Jefferson Ala Indl Dev Brd Solid Waste Disp Rev (Alabama Power & Light Proj.) Series 2023, 3.15% 8/1/2063 VRDN (c)(d) | 3000000 | 3000000 |
| Florida - 1.7%  |  |  |
| Broward Cnty FL Idr (Florida Pwr & Lt Co Proj.) Series 2015, 2.95% 6/1/2045 VRDN (c)(d) | 7100000 | 7100000 |
| Broward Cnty FL Idr (Florida Pwr & Lt Co Proj.) Series 2018 B, 2.9% 12/1/2048 VRDN (c)(d) | 200000 | 200000 |
| Lee Cnty FL Indl DevAuth Rev (Florida Pwr & Lt Co Proj.) Series 2016 A, 2.95% 12/1/2046 VRDN (c)(d) | 1100000 | 1100000 |
| Lee Cnty FL Indl DevAuth Rev (Florida Pwr & Lt Co Proj.) Series 2016 B, 3.1% 12/1/2046 VRDN (c)(d) | 300000 | 300000 |
| Miami-Dade Cnty FL Indl Dev Au (Florida Pwr & Lt Co Proj.) Series 2024A, 2.95% 5/1/2054 VRDN (c)(d) | 7300000 | 7300000 |
| Miami-Dade Cnty FL Indl Dev Au (Florida Pwr & Lt Co Proj.) Series 2024B, 2.95% 5/1/2054 VRDN (c)(d) | 6250000 | 6250000 |
| TOTAL FLORIDA |  | 22250000 |
| Iowa - 0.0%  |  |  |
| Iowa Fin Auth Sld Disp Wst Rev (Midamerican Energy Co Proj.) 2.9% 7/1/2038 VRDN (c)(d) | 200000 | 200000 |
| Kansas - 0.0%  |  |  |
| Burlington Kans Envr Imprv Rev (Evergy Kansas Metro Proj.) 2.9% 9/1/2035 VRDN (c) | 300000 | 300000 |
| Burlington Kans Envr Imprv Rev (Evergy Kansas Metro Proj.) 2.9% 9/1/2035 VRDN (c) | 100000 | 100000 |
| St Marys Kans Pollutn Ctl Rev (Evergy Kansas South Proj.) 2.85% 4/15/2032 VRDN (c) | 1100000 | 1100000 |
| Wamego Kansas Pcr (Evergy Kansas South Proj.) 2.85% 4/15/2032 VRDN (c) | 100000 | 100000 |
| TOTAL KANSAS |  | 1600000 |
| Kentucky - 0.3%  |  |  |
| Daviess Cty KY Exempt Facs Rev (Kimberly-Clark Tissue Company Proj.) 2.95% 8/1/2029 (Kimberly-Clark Corp Guaranteed) VRDN (c)(d) | 1800000 | 1800000 |
| Meade Cnty KY Indl Bldg Rev (Nucor Corp Proj.) Series 2020 B 1, 3.35% 7/1/2060 VRDN (c)(d) | 325000 | 325000 |
| Meade Cnty KY Indl Bldg Rev (Nucor Corp Proj.) Series 2021 A 1, 3.35% 8/1/2061 VRDN (c)(d) | 1300000 | 1300000 |
| Meade Cnty KY Indl Bldg Rev (Nucor Corp Proj.) Series 2021B 1, 3.4% 8/1/2061 VRDN (c)(d) | 100000 | 100000 |
| TOTAL KENTUCKY |  | 3525000 |
| New Jersey - 30.1%  |  |  |
| Essex Cnty N J Impt Auth Multifamily Hsg Rev (Fern Preservation Urban Renewal Lp Proj.) 2.8% 12/1/2040, LOC Freddie Mac Non Gold Pool VRDN (c) | 11300000 | 11300000 |
| New Jersey Econom Dev Auth Rev (Cooper Health System Proj.) 2.81% 11/1/2038, LOC TD Bank NA VRDN (c) | 49600000 | 49600000 |
| New Jersey Health Care (Ahs Hospital Corp Proj.) 2.8% 7/1/2036, LOC Bank of America NA VRDN (c) | 84305000 | 84305001 |
| New Jersey Health Care (Ahs Hospital Corp Proj.) 2.8% 7/1/2036, LOC JPMorgan Chase Bank NA VRDN (c) | 61615000 | 61615000 |
| New Jersey Health Care (Virtua Health Proj.) 1.4% 7/1/2043, LOC JPMorgan Chase Bank NA VRDN (c) | 18930000 | 18930000 |
| New Jersey Health Care (Virtua Health Proj.) 1.5% 7/1/2043, LOC JPMorgan Chase Bank NA VRDN (c) | 37560000 | 37560000 |
| New Jersey Health Care (Virtua Health Proj.) 1.83% 7/1/2043, LOC TD Bank NA VRDN (c) | 14700000 | 14700000 |
| New Jersey Health Care (Virtua Health Proj.) 2% 7/1/2043, LOC TD Bank NA VRDN (c) | 52640000 | 52640000 |
| New Jersey Health Care (Virtua Health Proj.) 2.29% 7/1/2033, LOC Wells Fargo Bank NA VRDN (c) | 32330000 | 32330000 |
| Union Cnty Ind Pcf Auth Pcr (Exxon Capital Ventures Inc Proj.) 2.2% 7/1/2033 (Exxon Mobil Corp Guaranteed) VRDN (c) | 29300000 | 29300000 |
| TOTAL NEW JERSEY |  | 392280001 |
| New Jersey,New York - 1.1%  |  |  |
| Port Auth NY & NJ 2.84% 1/19/2027 VRDN (b)(c)(g) | 6400000 | 6400000 |
| Port Auth NY & NJ 2.84% 1/19/2027 VRDN (b)(c)(g) | 4400000 | 4400000 |
| Port Auth NY & NJ 2.84% 1/19/2027 VRDN (b)(c)(g) | 3100000 | 3100000 |
| TOTAL NEW JERSEY,NEW YORK |  | 13900000 |
| North Carolina - 0.5%  |  |  |
| Hertford Cnty NC Indl Facs & Pollutn Ctl Fing Auth Indl Dev Rev (Nucor Corp Proj.) 3.1% 11/1/2033 VRDN (c)(d) | 5950000 | 5950000 |
| South Carolina - 0.3%  |  |  |
| Berkeley Cnty SC Indl Dev Rev (Nucor Corp Proj.) 3.3% 3/1/2029 VRDN (c)(d) | 2200000 | 2200000 |
| Berkeley Cnty SC Indl Dev Rev (Nucor Corp Proj.) 3.3% 4/1/2031 VRDN (c)(d) | 800000 | 800000 |
| Darlington Cnty SC Indl Dev Re (Nucor Corp Proj.) 3.3% 8/1/2029 VRDN (c)(d) | 800000 | 800000 |
| TOTAL SOUTH CAROLINA |  | 3800000 |
| <br> **TOTAL VARIABLE RATE DEMAND NOTE**<br> (Cost $446,505,001) |  | <br> **446505001** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Commercial Paper - 3.3%** | &nbsp;&nbsp;**Commercial Paper - 3.3%** | &nbsp;&nbsp;**Commercial Paper - 3.3%** | &nbsp;&nbsp;**Commercial Paper - 3.3%** |
|  | Yield (%) (h) | Principal<br> Amount (a)<br>| Value ($)<br>|
| New Jersey Educational Facilities Authority 2.73% 12/2/2025 CP  | 2.73 | 10000000 | 10000000 |
| New Jersey St Edl Facs Auth 2.59% 1/8/2026 CP  | 2.59 | 26000000 | 26000000 |
| New Jersey St Edl Facs Auth 2.68% 12/2/2025 CP  | 2.68 | 6500000 | 6500000 |
| <br> **TOTAL COMMERCIAL PAPER**<br> (Cost $42,500,000) |  |  | **42500000** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 14.5%** | &nbsp;&nbsp;**Money Market Funds - 14.5%** | &nbsp;&nbsp;**Money Market Funds - 14.5%** | &nbsp;&nbsp;**Money Market Funds - 14.5%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Municipal Cash Central Fund (i)(j)<br>(Cost $189,413,188)<br>| 2.89 | 189376481 | **189413188** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.6%**<br> (Cost $1,298,828,409)<br>| <br>**1298828409** |
| **NET OTHER ASSETS (LIABILITIES) - 0.4%**  | **5841034** |
| **NET ASSETS - 100.0%** | **1304669443** |

---

**Security Type Abbreviations**

BAN - BOND ANTICIPATION NOTE <br> RAN - REVENUE ANTICIPATION NOTE <br> VRDN - VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)

The date shown for securities represents the date when principal payments must be paid, taking into account any call options exercised by the issuer and any permissible maturity shortening features other than interest rate resets.

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors.

(c) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(d) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.

(e) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(f) Provides evidence of ownership in one or more underlying municipal bonds. Coupon rates are determined by re-marketing agents based on current market conditions.

(g) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $39,435,000 or 3.0% of net assets.

(h) Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.

(i) Information in this report regarding holdings by state and security types does not reflect the holdings of the Fidelity Central Fund.

(j) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Cost ($)<br>|
| Alaska Multi Fam Hsg Auth Chenana Apts Participating VRDN 3.02% 11/21/2027 (Liquidity Facility Mizuho Capital Markets LLC) | 11/21/2024 | 200000 |
| Arizona St Indl Dev Auth Multifamily Hsg Rev Participating VRDN Series 2025 MIZ9240, 3.02% 1/1/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 11/3/2025 | 300000 |
| Arizona St Indl Dev Auth Multifamily Hsg Rev Participating VRDN Series 2025 MIZ9241, 3.02% 11/2/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 11/3/2025 | 200000 |
| Arizona St Indl Dev Auth Multifamily Hsg Rev Participating VRDN Series 2025 MIZ9242, 3.02% 11/2/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 11/3/2025 | 300000 |
| Illinois Hsg Dev Auth Multi Fam Hsg Auth Participating VRDN Series 2025 MIZ9224, 3.02% 8/18/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 8/19/2025 | 3400000 |
| Kansas City MO Multi Fam Hsg Rev Participating VRDN Series 2025 MIZ9207, 3.02% 1/21/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 1/23/2025 | 300000 |
| Missippi Multi Family Hsg Rev Participating VRDN Series 2024 MIZ9202, 3.02% 12/4/2027 (Liquidity Facility Mizuho Capital Markets LLC) | 12/4/2024 | 400000 |
| Missippi Multi Family Hsg Rev Participating VRDN Series 2024 MIZ9205, 3.02% 7/1/2027 (Liquidity Facility Mizuho Capital Markets LLC) | 12/12/2024 | 300000 |
| New Jersey Housing & Mortgage Finance Agency Participating VRDN Series 2025 MIZ9244, 2.97% 11/24/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 11/25/2025 | 17135000 |
| New York Dorm Auth Royal Charter Prop Participating VRDN Series 2025 MIZ9208, 3.02% 3/16/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 3/17/2025 | 2100000 |
| Oregon Hsg & Cmnty Svcs Dep Participating VRDN 3.02% 1/2/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 1/2/2025 | 200000 |
| Pennsylvania Multi Fam Hsg Rev Participating VRDN 3.02% 6/20/2027 (Liquidity Facility Mizuho Capital Markets LLC) | 6/20/2024 | 100000 |
| Port Auth NY & NJ 2.84% 1/19/2027 VRDN | 2/14/1992 | 6400000 |
| Port Auth NY & NJ 2.84% 1/19/2027 VRDN | 9/15/1997 | 3100000 |
| Port Auth NY & NJ 2.84% 1/19/2027 VRDN | 8/9/2002 | 4400000 |
| Raleigh NC Hsg Auth Multi Fam Rev Participating VRDN Series 2025 MIZ9228, 3.02% 8/15/2028 (Liquidity Facility Mizuho Capital Markets LLC) | 8/19/2025 | 600000 |

---

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Municipal Cash Central Fund | 145006573 | 450407414 | 406000799 | 4437748 | - | - | 189413188 | 189376481 | 5.7% |
| Total | 145006573 | 450407414 | 406000799 | 4437748 | - | - | 189413188 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

**Investment Valuation**

All investments are categorized as Level 2 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in these securities. For more information on valuation inputs, refer to the Investment Valuation section in the accompanying Notes to Financial Statements.

**Financial Statements**

---

| | | |
|:---|:---|:---|
| **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** | **Statement of Assets and Liabilities** |
| **As of November 30, 2025** | **As of November 30, 2025** | **As of November 30, 2025** |
| **Assets**  |  |  |
| Investment in securities, at value - See accompanying schedule: |  |  |
| Unaffiliated issuers (cost $1,109,415,221) | $1109415221 |  |
| Fidelity Central Funds (cost $189,413,188) | 189413188 |  |
| Total Investment in Securities (cost $1,298,828,409) |  | $1298828409 |
| Cash |  | 7549307 |
| Receivable for fund shares sold |  | 903970 |
| Dividends receivable |  | 227 |
| Interest receivable |  | 9766556 |
| Distributions receivable from Fidelity Central Funds |  | 429572 |
| Receivable from investment adviser for expense reductions |  | 26838 |
| Other receivables |  | 3371 |
| **Total assets** |  | 1317508250 |
| **Liabilities** |  |  |
| Payable for investments purchased on a delayed delivery basis | $11383513 |  |
| Payable for fund shares redeemed | 972523 |  |
| Distributions payable | 184622 |  |
| Accrued management fee | 214378 |  |
| Other affiliated payables | 83771 |  |
| **Total liabilities** |  | 12838807 |
| **Net Assets**  |  | $1304669443 |
| Net Assets consist of: |  |  |
| Paid in capital |  | $1304617944 |
| Total accumulated earnings (loss) |  | 51499 |
| **Net Assets** |  | $1304669443 |
| **Net Asset Value and Maximum Offering Price** |  |  |
| **Fidelity New Jersey Municipal Money Market Fund :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($22,147,018 ÷ 22,153,078 shares) |  | $1.00 |
| **Institutional Class :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($627,459,668 ÷ 626,987,214 shares) |  | $1.00 |
| **Premium Class :** |  |  |
| **Net Asset Value**, offering price and redemption price per share ($655,062,757 ÷ 654,326,266 shares) |  | $1.00 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Operations** | **Statement of Operations** | **Statement of Operations** |
| <br> **Year ended November 30, 2025** | <br> **Year ended November 30, 2025** | <br> **Year ended November 30, 2025** |
| **Investment Income** |  |  |
| Interest  |  | $28711920 |
| Income from Fidelity Central Funds  |  | 4435874 |
| **Total income** |  | 33147794 |
| **Expenses** |  |  |
| Management fee | $2455585 |  |
| Transfer agent fees | 968144 |  |
| Independent trustees' fees and expenses | 3195 |  |
| Miscellaneous | 4715 |  |
| Total expenses before reductions | 3431639 |  |
| Expense reductions | (294681) |  |
| Total expenses after reductions |  | 3136958 |
| **Net Investment income (loss)** |  | 30010836 |
| **Realized and Unrealized Gain (Loss)** |  |  |
| Net realized gain (loss) on: |  |  |
| Investment Securities: |  |  |
| Unaffiliated issuers  | 34245 |  |
| Capital gain distributions from Fidelity Central Funds | 1874 |  |
| Total net realized gain (loss) |  | 36119 |
| **Net increase in net assets resulting from operations** |  | $30046955 |

---

---

| | | |
|:---|:---|:---|
| **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** | **Statement of Changes in Net Assets** |
|  | **Year ended**<br> **November 30, 2025** | **Year ended**<br> **November 30, 2024** |
| **Increase (Decrease) in Net Assets** |  |  |
| Operations |  |  |
| &nbsp;&nbsp;Net investment income (loss) | $30010836 | $34077795 |
| &nbsp;&nbsp;Net realized gain (loss) | 36119<br>| 20412<br>|
| **Net increase in net assets resulting from operations** | 30046955<br>| 34098207<br>|
| Distributions to shareholders | (29991922)<br>| (34057749)<br>|
| Share transactions - net increase (decrease) | 62586731<br>| 310049285<br>|
| &nbsp;&nbsp;**Total increase (decrease) in net assets** | 62641764<br>| 310089743<br>|
| **Net Assets** |  |  |
| &nbsp;&nbsp;Beginning of period | 1242027679 | 931937936<br>|
| &nbsp;&nbsp;End of period | $1304669443 | $1242027679 |

---

**Financial Highlights** 

**Fidelity® New Jersey Municipal Money Market Fund** <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Years ended November 30,** | **2025**  | **2024**  | **2023**  | **2022** A |
| **Selected Per-Share Data**  |  |  |  |  |
| Net asset value, beginning of period  | $1.00 | $1.00 | $1.00 | $1.00 |
| Income from Investment Operations  |  |  |  |  |
| Net investment income (loss) B | .023  | .030  | .027  | .003  |
| Net realized and unrealized gain (loss)  | - C | (.001) D | - C | - C |
| Total from investment operations  | .023  | .029  | .027  | .003  |
| Distributions from net investment income  | (.023)  | (.029)  | (.027)  | (.003)  |
| Total distributions  | (.023)  | (.029)  | (.027)  | (.003)  |
| Net asset value, end of period  | $1.00 | $1.00 | $1.00 | $1.00 |
| **Total Return** E,F | 2.30% <br>| 2.99%  | 2.76%  | .32%  |
| **Ratios to Average Net Assets** B,G,H |  |  |  |  |
| Expenses before reductions  | .42%  | .42%  | .42%  | .42% I |
| Expenses net of fee waivers, if any  | .42% <br>| .42%  | .42%  | .42% I |
| Expenses net of all reductions, if any  | .42%  | .42%  | .42%  | .42% I |
| Net investment income (loss)  | 2.28%  | 2.95%  | 2.73%  | 1.61% I |
| **Supplemental Data** |  |  |  |  |
| Net assets, end of period (000 omitted) | $22147 | $21706 | $9456 | $1614 |

---

A*For the period September 22, 2022 (commencement of sale of shares) through November 30, 2022.*

B*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

C*Amount represents less than $.0005 per share.*

D*The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.*

E*Total returns for periods of less than one year are not annualized.*

F*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

G*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

H*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

I*Annualized.*

**Fidelity® New Jersey Municipal Money Market Fund Institutional Class**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Years ended November 30,** | **2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) A | .025  | .032  | .029  | .008  | - B |
| Net realized and unrealized gain (loss) B | -  | -  | -  | -  | -  |
| Total from investment operations  | .025  | .032  | .029  | .008  | - B |
| Distributions from net investment income  | (.025)  | (.032)  | (.029)  | (.008)  | - B |
| Total distributions  | (.025)  | (.032)  | (.029)  | (.008)  | - B |
| Net asset value, end of period  | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| **Total Return** C | 2.53% <br>| 3.22%  | 2.99%  | .79%  | .01%  |
| **Ratios to Average Net Assets** A,D,E |  |  |  |  |  |
| Expenses before reductions  | .25%  | .25%  | .25%  | .25%  | .25%  |
| Expenses net of fee waivers, if any  | .20% <br>| .20%  | .20%  | .18%  | .10%  |
| Expenses net of all reductions, if any  | .20%  | .20%  | .20%  | .18%  | .10%  |
| Net investment income (loss)  | 2.50%  | 3.17%  | 2.96%  | 1.01%  | .01%  |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $627460 | $595764 | $401895 | $290546 | $209900 |

---

A*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

B*Amount represents less than $.0005 per share.*

C*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

D*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

E*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

**Fidelity® New Jersey Municipal Money Market Fund Premium Class**<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Years ended November 30,** | **2025**  | **2024**  | **2023**  | **2022**  | **2021**  |
| **Selected Per-Share Data**  |  |  |  |  |  |
| Net asset value, beginning of period  | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Income from Investment Operations  |  |  |  |  |  |
| Net investment income (loss) A | .024  | .031  | .028  | .007  | - B |
| Net realized and unrealized gain (loss) B | -  | -  | -  | -  | -  |
| Total from investment operations  | .024  | .031  | .028  | .007  | - B |
| Distributions from net investment income  | (.024)  | (.031)  | (.028)  | (.007)  | - B |
| Total distributions  | (.024)  | (.031)  | (.028)  | (.007)  | - B |
| Net asset value, end of period  | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| **Total Return** C | 2.43% <br>| 3.12%  | 2.89%  | .72%  | .01%  |
| **Ratios to Average Net Assets** A,D,E |  |  |  |  |  |
| Expenses before reductions  | .30%  | .30%  | .30%  | .30%  | .30%  |
| Expenses net of fee waivers, if any  | .30% <br>| .30%  | .30%  | .27%  | .10%  |
| Expenses net of all reductions, if any  | .30%  | .30%  | .30%  | .27%  | .10%  |
| Net investment income (loss)  | 2.40%  | 3.07%  | 2.86%  | .92%  | .01%  |
| **Supplemental Data** |  |  |  |  |  |
| Net assets, end of period (000 omitted) | $655063 | $624558 | $520586 | $492831 | $127495 |

---

A*Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.*

B*Amount represents less than $.0005 per share.*

C*Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.*

D*Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.*

E*Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.*

**Notes to Financial Statements**

For the period ended November 30, 2025

**1. Organization.**

Fidelity New Jersey Municipal Money Market Fund (the Fund) is a fund of Fidelity Court Street Trust II (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Delaware statutory trust. The Fund offers Fidelity New Jersey Municipal Money Market Fund, Institutional Class and Premium Class shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class. Shares of the Fund are only available for purchase by retail shareholders. The Fund may be affected by economic and political developments in the state of New Jersey.

**2. Investments in Fidelity Central Funds.**

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fidelity Central Fund** | **Investment Manager** | **Investment Objective** | **Investment Practices** | **Expense RatioA** |
| Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |

---

*A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.* 

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

**3. Significant Accounting Policies.**

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 *Financial Services - Investment Companies*. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

**Investment Valuation.** The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

As permitted by compliance with certain conditions under Rule 2a-7 of the 1940 Act, securities are valued at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity. Securities held by a money market fund are generally high quality and liquid; however, they are reflected as Level 2 because the inputs used to determine fair value are not quoted prices in an active market.

**Investment Transactions and Income.** The net asset value per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions, including the Fund's investment activity in the Fidelity Central Funds, are accounted for as of trade date. Gains and losses on securities sold are determined on the basis of identified cost. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable.

**Class Allocations and Expenses.** Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

**Income Tax Information and Distributions to Shareholders.** Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. During the period, the Fund incurred a corporate tax liability on undistributed short-term and long-term capital gains which is included in Miscellaneous expense on the Statement of Operations. As of November 30, 2025, the Fund did not have any unrecognized tax benefits in the financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction.

Distributions are declared and recorded daily and paid monthly from net investment income. Distributions from realized gains, if any, are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. In addition, the Fund claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to market discount and losses deferred due to wash sales.

The Fund purchases municipal securities whose interest, in the opinion of the issuer, is free from federal income tax. There is no assurance that the IRS will agree with this opinion. In the event the IRS determines that the issuer does not comply with relevant tax requirements, interest payments from a security could become federally taxable, possibly retroactively to the date the security was issued.

As of period end, the cost and unrealized appreciation (depreciation) in securities for federal income tax purposes were as follows:

---

| | |
|:---|:---|
| **Gross unrealized appreciation**  | $- |
| **Gross unrealized depreciation**  | <u>-</u> |
| **Net unrealized appreciation (depreciation)**  | <u>$-</u> |
| **Tax Cost**  | <u>$1298828409</u> |

---

The tax-based components of distributable earnings as of period end were as follows:

---

| | |
|:---|:---|
| **Undistributed tax-exempt income**  | <u>$40220</u> |
| **Undistributed ordinary income**  | <u>$-</u> |
| **Undistributed long-term capital gain**  | <u>$11251</u> |
| **Net unrealized appreciation (depreciation) on securities and other investments**  | <u>$-</u> |

---

The tax character of distributions paid was as follows:

---

| | | |
|:---|:---|:---|
|  | **November 30, 2025** | **November 30, 2024** |
| **Tax-exempt Income** | 29,991,922 | 34,057,749 |

---

**Delayed Delivery Transactions and When-Issued Securities.** During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.

**Restricted Securities (including Private Placements).** Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.

**New Accounting Pronouncements.** FASB Accounting Standards Update (ASU) 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures became effective in this reporting period. ASU 2023-07 enhances segment information disclosure in the notes to financial statements.

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid. The ASU allows for early adoption and amendments should be applied on a prospective basis. Management is currently evaluating the impact of the ASU but does not expect this guidance to materially impact the financial statements.

**4. Fees and Other Transactions with Affiliates.**

**Management Fee and Expense Contract.** Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .20% of the Fund's average net assets. Under the management contract, the investment adviser pays all other fund-level expenses, except the compensation of the independent Trustees and certain other expenses such as interest expense. The management fee is reduced by an amount equal to the fees and expenses paid by the Fund to the independent Trustees.

In addition, under the expense contract, the investment adviser pays class-level expenses for Premium Class so that the total expenses do not exceed .35%, expressed as a percentage of class average net assets, with certain exceptions such as interest expense.

**Transfer Agent Fees.** Fidelity Investments Institutional Operations Company LLC (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for the Fund. FIIOC receives asset-based fees with respect to each account. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements. For the period, transfer agent fees for each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Amount ($)** | **% of Class-Level Average Net AssetsA** |
| **Fidelity New Jersey Municipal Money Market Fund** | 45747 | .22 |
| **Institutional Class** | 286200 | .05 |
| **Premium Class** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>636197</u> | .10 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>968144</u> |  |

---

A *Annualized*

**Interfund Trades.** Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Interfund trades during the period are noted in the table below.

---

| | | | |
|:---|:---|:---|:---|
|  | **Purchases ($)** | **Sales ($)** | **Realized Gain (Loss) ($)** |
| **Fidelity New Jersey Municipal Money Market Fund** | 48769153 | 25970000 | - |

---

**5. Expense Reductions.** 

The investment adviser contractually agreed to reimburse Institutional Class to the extent annual operating expenses, expressed as a percentage of average net assets, exceed .20%. Some expenses, for example the compensation of the independent Trustees, and certain other expenses such as interest expense, are excluded from this reimbursement. During the period, this reimbursement reduced Institutional Class expenses by $285,996.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $8,685.

**6. Distributions to Shareholders.**

Distributions to shareholders of each class were as follows:

---

| | | |
|:---|:---|:---|
|  | **Year ended** <br> **November 30, 2025** | **Year ended**<br> **November 30, 2024** |
| **Fidelity New Jersey Municipal Money Market Fund** |  |  |
| **Distributions to shareholders** |  |  |
| Fidelity New Jersey Municipal Money Market Fund | $473652 | $461285 |
| Institutional Class | 14284701 | 15780049 |
| Premium Class | &nbsp;&nbsp;&nbsp;&nbsp; <u>15233569</u> | &nbsp;&nbsp;&nbsp;&nbsp; <u>17816415</u> |
| Total  | <u>$29991922</u> | <u>$34057749</u> |

---

**7. Share Transactions.**

Share transactions for each class of shares at a $1.00 per share were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Shares** | **Shares** | **Dollars** | **Dollars** |
|  | **Year ended** <br> **November 30, 2025**  | **Year ended**<br> **November 30, 2024** | **Year ended** <br> **November 30, 2025**  | **Year ended**<br> **November 30, 2024** |
| **Fidelity New Jersey Municipal Money Market Fund** |  |  |  |  |
| **Fidelity New Jersey Municipal Money Market Fund** |  |  |  |  |
| Shares sold | 22924539 | 40405756 | $22924539 | $40405756 |
| Reinvestment of distributions | 430520 | 433989 | 430520 | 433989 |
| Shares redeemed | <u>(22914149)</u> | <u>(28584576)</u> | <u>(22914149)</u> | <u>(28584576)</u> |
| Net increase (decrease) | <u>440910</u> | <u>12255169</u> | <u>$440910</u> | <u>$12255169</u> |
| **Institutional Class** |  |  |  |  |
| Shares sold | 757232720 | 786451896 | $757232720 | $786451896 |
| Reinvestment of distributions | 12929254 | 13937857 | 12929254 | 13937857 |
| Shares redeemed | <u>(738485159)</u> | <u>(606569783)</u> | <u>(738485159)</u> | <u>(606569783)</u> |
| Net increase (decrease) | <u>31676815</u> | <u>193819970</u> | <u>$31676815</u> | <u>$193819970</u> |
| **Premium Class** |  |  |  |  |
| Shares sold | 416751890 | 341261292 | $416751890 | $341261292 |
| Reinvestment of distributions | 14095137 | 16682506 | 14095137 | 16682506 |
| Shares redeemed | <u>(400378021)</u> | <u>(253969652)</u> | <u>(400378021)</u> | <u>(253969652)</u> |
| Net increase (decrease) | <u>30469006</u> | <u>103974146</u> | <u>$30469006</u> | <u>$103974146</u> |

---

**8. Other.**

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

**9. Risk and Uncertainties.**

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

**Report of Independent Registered Public Accounting Firm**

To the Board of Trustees of Fidelity Court Street Trust II and Shareholders of Fidelity New Jersey Municipal Money Market Fund

***Opinion on the Financial Statements***

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity New Jersey Municipal Money Market Fund (the "Fund") as of November 30, 2025, the related statement of operations for the year ended November 30, 2025, the statement of changes in net assets for each of the two years in the period ended November 30, 2025, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of November 30, 2025, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended November 30, 2025 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of November 30, 2025 by correspondence with the custodian and brokers. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

January 13, 2026

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

**Distributions** **(Unaudited)**

The dividend and capital gains distributions for the fund(s) are available on *Fidelity.com* or *Institutional.Fidelity.com.*

The fund hereby designates as a capital gain dividend with respect to the taxable year ended November 30, 2025, $34,595, or, if subsequently determined to be different, the net capital gain of such year.

During fiscal year ended 2025, 100% of the fund's income dividends were free from federal income tax, and 15.68% of the fund's income dividends was subject to the federal alternative minimum tax.

The fund will notify shareholders in January 2026 of amounts for use in preparing 2025 income tax returns.

**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies**

**(Unaudited)**

Note: This is not applicable for any fund included in this document.

**Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies**

**(Unaudited)**

Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract**

**(Unaudited)**

**Board Approval of Investment Advisory Contracts and Management Fees**

**Fidelity New Jersey Municipal Money Market Fund**

Each year, the Board of Trustees, including the Independent Trustees (together, the Board), considers the renewal of the fund's management contract with Fidelity Management & Research Company LLC (FMR) and the sub-advisory agreements (together, the Advisory Contracts) for the fund. FMR and the sub-advisers are referred to herein as the Investment Advisers. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, requests and considers a broad range of information relevant to the renewal of the Advisory Contracts throughout the year.

The Board meets regularly and, at each of its meetings, covers an extensive agenda of topics and materials and considers factors that are relevant to its annual consideration of the renewal of the fund's Advisory Contracts, including the services and support provided to the fund and its shareholders. The Board's Operations Committee, of which all the Independent Trustees are members, meets regularly throughout the year and requests, receives and considers, among other matters, information related to the annual consideration of the renewal of the fund's Advisory Contracts before making its recommendation to the Board. The Board also meets as needed to review matters specifically related to the Board's annual consideration of the renewal of the Advisory Contracts. Members of the Board may also meet from time to time with trustees of other Fidelity U.S. registered funds (Fidelity funds) through joint ad hoc committees to discuss certain matters relevant to all of the Fidelity funds.

At its September 2025 meeting, the Board unanimously determined to renew the fund's Advisory Contracts. In reaching its determination, the Board considered all factors it believed relevant, including (i) the nature, extent, and quality of the services provided to the fund and its shareholders (including the investment performance of the fund); (ii) the competitiveness relative to peer funds of the fund's management fee and the total expense ratio of a representative class; (iii) the total costs of the services provided by and the profits realized by FMR and its affiliates (Fidelity) from its relationships with the fund; and (iv) the extent to which, if any, economies of scale exist and are realized as the fund grows, and whether any economies of scale are appropriately shared with fund shareholders. The Board also considered the broad range of investment choices available to shareholders from FMR's competitors and that the fund's shareholders have chosen to invest in the fund, which is part of the Fidelity family of funds. The Board's decision to renew the Advisory Contracts was not based on any single factor and the factors may have been weighed differently by individual Trustees.

The Board reached a determination, with the assistance of fund counsel and Independent Trustees' counsel and through the exercise of its business judgment, that the renewal of the Advisory Contracts was in the best interests of the fund and its shareholders and that the compensation payable under the Advisory Contracts was fair and reasonable in light of all of the surrounding circumstances.

**Nature, Extent, and Quality of Services Provided.** The Board considered the Investment Advisers' staffing as it relates to the fund, including the backgrounds and experience of investment personnel, and also considered the Investment Advisers' implementation of the fund's investment program. The Independent Trustees also had discussions with senior management of Fidelity's investment operations and investment groups. The Board considered the structure of the investment personnel compensation program and whether this structure provides appropriate incentives to act in the best interests of the fund. Additionally, the Board considered the portfolio managers' investments, if any, in the funds that they manage.

<u>Resources Dedicated to Investment Management and Support Services</u>. The Board reviewed the general qualifications and capabilities of the Investment Advisers' staff, such as size, education, experience, and resources, as well as the Investment Advisers' approach to recruiting, managing, training, and compensating investment personnel. The Board noted that Fidelity's analysts have extensive resources, tools and capabilities that allow them to conduct quantitative and fundamental analysis, as well as credit analysis of issuers, counterparties and guarantors. Further, the Board considered that the Investment Advisers' investment professionals have sufficient access to information and data so as to provide competitive investment results over time, and that those professionals also have access to sophisticated tools that permit them to assess portfolio construction and risk and performance attribution characteristics continuously, and to transmit new information and research conclusions rapidly. Additionally, in its deliberations, the Board considered Fidelity's trading, risk management, compliance, cybersecurity, technology and operations capabilities and resources, which are integral parts of the investment management process.

<u>Shareholder and Administrative Services</u>. The Board considered (i) the nature, extent, quality, and cost of advisory, administrative, and shareholder services performed by the Investment Advisers and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency and pricing and bookkeeping services for the fund; (ii) the nature and extent of Fidelity's supervision of third party service providers, principally custodians, subcustodians, and pricing vendors; and (iii) the resources devoted by Fidelity to, and the record of compliance with, the fund's compliance policies and procedures, including with respect to liquidity risk management.

The Board noted that the growth of fund assets over time across the complex allows Fidelity to reinvest in the development of services designed to enhance the value and convenience of the Fidelity funds as investment vehicles. These services include 24-hour access to account and market information over the Internet, via the Fidelity mobile app and through telephone representatives, investor education materials and asset allocation tools. The Board also considered that it reviews customer service metrics such as telephone response times, continuity of services on the website and metrics addressing services at Fidelity Investor Centers.

<u>Investment in a Large Fund Family</u>. The Board considered the benefits to shareholders of investing in a fund that is part of a large family of funds offering a variety of investment disciplines and providing a large variety of fund investor services. The Board noted that Fidelity had taken, or had made recommendations that resulted in the Fidelity funds taking, a number of actions over the previous year that benefited particular funds and/or the Fidelity funds in general.

<u>Investment Performance</u>. The Board took into account discussions that occur with representatives of the Investment Advisers, and reports that it receives, at Board meetings throughout the year relating to fund investment performance. In this regard the Board noted that as part of regularly scheduled fund reviews and other reports to the Board on fund performance, the Board considered annualized return information for the fund for different time periods, measured against an appropriate peer group of funds with similar objectives (peer group). In its evaluation of fund investment performance at meetings throughout the year, the Board gave particular attention to information indicating underperformance of certain Fidelity funds over different time periods and discussed with the Investment Advisers the reasons for such underperformance.

In addition to reviewing absolute and relative fund performance, the Independent Trustees periodically consider the appropriateness of fund performance metrics in evaluating the results achieved. The Independent Trustees generally give greater weight to fund performance over longer time periods than over shorter time periods.

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

**Competitiveness of Management Fee and Total Expense Ratio.** The Board was provided with information regarding industry trends in management fees and expenses. In its review of the fund's management fee and total expense ratio of a representative class (Institutional Class), the Board considered the fund's management fee rate as well as other "fund-level" expenses, such as pricing and bookkeeping fees and custodial, legal, and audit fees, paid by FMR under the fund's management contract. The Board also considered other "class-level" expenses, such as transfer agent fees and fund-paid 12b-1 fees. The Board also noted that Fidelity may agree to waive fees or reimburse expenses from time to time, and the extent to which, if any, it has done so for the fund.

<u>Comparisons of Management Fees and Total Expense Ratios</u>. Among other things, the Board reviewed data for selected groups of competitive funds and classes (referred to as "total peer groups") that were compiled by Fidelity based on combining similar Morningstar categories that have comparable investment mandates and sales load types (as classified by Lipper). The data reviewed by the Board included (i) gross management fee comparisons (before taking into account expense reimbursements or caps) of the fund relative to the funds and classes in the total peer group; (ii) gross management fee comparisons of the fund relative to non-Fidelity funds in the total peer group (referred to as the "asset-sized peer group"); (iii) total expense comparisons of Institutional Class of the fund relative to the total peer group; and (iv) total expense comparisons (excluding performance adjustment and fund-paid 12b-1 fees) of Institutional Class of the fund relative to the asset-sized peer group.

The information provided to the Board indicated that the fund's management fee rate ranked below the competitive median of the total peer group for 2024 and below the competitive median of the asset-sized peer group for 2024. Further, the information provided to the Board indicated that the total expense ratio of the fund's Institutional Class ranked below the competitive median of the total peer group for 2024 and below the competitive median of the asset-sized peer group for 2024.

<u>Other Contractual Expenses</u>. The Board further considered that current contractual arrangements for the fund oblige FMR to pay all "class-level" expenses of Premium Class of the fund to the extent necessary to limit total operating expenses, with certain exceptions, to 0.35%. These contractual arrangements may not be amended to increase the fees or expenses payable except by a vote of a majority of the Board and by a vote of a majority of the outstanding voting securities of the class. The Board further considered that FMR has contractually agreed to reimburse Institutional Class of the fund to the extent that total operating expenses, with certain exceptions, as a percentage of its respective average net assets, exceed 0.20%.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered. Further, based on its review of total expense ratios and fees charged to other Fidelity clients, the Board concluded that the total expense ratio of each class of the fund was reasonable in light of the services that the fund and its shareholders receive and the other factors considered.

**Costs of the Services and Profitability.** The Board considered the revenues earned and the expenses incurred by Fidelity in conducting the business of developing, marketing, distributing, managing, administering and servicing the fund and servicing the fund's shareholders. The Board also considered the level of Fidelity's profits in respect of the fund and all the Fidelity funds.

On an annual basis, Fidelity presents to the Board information about the profitability of its relationships with the fund. Fidelity calculates profitability information for each Fidelity fund, as well as aggregate profitability information for groups of Fidelity funds and all Fidelity funds, using a series of detailed revenue and cost allocation methodologies which originate with the books and records of Fidelity on which Fidelity's audited financial statements are based. The Audit Committee of the Board reviews any significant changes from the prior year's methodologies.

A public accounting firm has been engaged annually by the Board as part of the Board's assessment of Fidelity's profitability analysis. The engagement includes the review and assessment of the methodologies used by Fidelity in determining the revenues and expenses attributable to Fidelity's fund business. After considering the reports issued under the engagement and information provided by Fidelity, the Board concluded that while other allocation methods may also be reasonable, Fidelity's profitability methodologies are reasonable in all material respects.

The Board considered the costs of the services provided by and the profits realized by Fidelity in connection with the operation of the fund and was satisfied that the profitability was not excessive.

The Board concluded, taking into account the analysis of the committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

**Additional Information Requested by the Board.** In order to develop fully the factual basis for consideration of the Fidelity funds' advisory contracts, the Board requested and received additional information on certain topics, including: (i) portfolio manager changes that have occurred during the past year; (ii) hiring, training, compensating, and retaining adviser and sub-adviser personnel; (iii) the terms of the funds' various management fee structures and arrangements for transfer agent and pricing and bookkeeping services; (iv) Fidelity's fund profitability methodology, profitability trends for certain funds and asset classes, the allocation of various costs to different funds, and the impact of certain factors on fund profitability results; (v) information about the role of fund profitability in considering changes to the fund lineup; (vi) the types of management fee and total expense comparisons provided, and challenges and limitations associated with such information; (vii) explanations regarding the relative total expense ratios and management fees of certain funds and classes, total expense and management fee competitive trends, and methodologies for total expense and management fee competitive comparisons; (viii) matters related to money market funds, bond funds, allocation funds, exchange-traded funds, and target date funds; (ix) the arrangements with and compensation paid to certain fund sub-advisers and the treatment of such compensation within Fidelity's fund profitability methodology; and (x) the terms of management contracts between Fidelity and other funds and products not overseen by the Board.

**Conclusion.** Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board, including the Independent Trustees, concluded that the advisory and sub-advisory fee arrangements are fair and reasonable in light of all of the surrounding circumstances and that the fund's Advisory Contracts should be renewed through September 30, 2026.

![](img120713_4.jpg)<br>

1.850770.118 SNJ-ANN-0126

Item 8.

<u>Changes in and Disagreements with Accountants for Open-End Management Investment Companies</u>

See Item 7.

Item 9.

<u>Proxy Disclosures for Open-End Management Investment Companies</u>

See Item 7.

Item 10.

<u>Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies</u>

See Item 7.

Item 11.

<u>Statement Regarding Basis for Approval of Investment Advisory Contract</u>

See Item 7.

Item 12.

<u>Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies</u>

Not applicable.

Item 13.

<u>Portfolio Managers of Closed-End Management Investment Companies</u>

Not applicable.

Item 14.

<u>Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers</u>

Not applicable.

Item 15.

<u>Submission of Matters to a Vote of Security Holders</u>

There were no material changes to the procedures by which shareholders may recommend nominees to the trust's Board of Trustees.

Item 16.

<u>Controls and Procedures</u>

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust's internal control over financial reporting.

Item 17.

<u>Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u>

Not applicable.

Item 18.

<u>Recovery of Erroneously Awarded Compensation</u>

(a) Not applicable.

(b) Not applicable.

Item 19.

<u>Exhibits</u>

(a) (1) [Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.](code.htm)

(a) (2) [Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.](ex99cert.htm)

(a) (3) Not applicable.

(b) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.](ex99906cert.htm)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Court Street Trust II

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Laura M. Del Prato</u> |
|  | &nbsp;&nbsp; Laura M. Del Prato |
|  | &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; January 22, 2026 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Laura M. Del Prato</u> |
|  | &nbsp;&nbsp; Laura M. Del Prato |
|  | &nbsp;&nbsp; President and Treasurer (Principal Executive Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; January 22, 2026 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp; By: | &nbsp;&nbsp; <u>/s/Stephanie Caron</u> |
|  | &nbsp;&nbsp; Stephanie Caron |
|  | &nbsp;&nbsp; Chief Financial Officer (Principal Financial Officer) |
| &nbsp;&nbsp; Date: | &nbsp;&nbsp; January 22, 2026 |

---

## Ex-99.Code

**Fidelity Investments**

**FIDELITY FUNDS'**

**CODE OF ETHICS**

**FOR PRESIDENT, TREASURER**

**AND PRINCIPAL ACCOUNTING OFFICER**

2023

**FIDELITY FUNDS' CODE OF ETHICS FOR**

**PRESIDENT, TREASURER AND PRINCIPAL ACCOUNTING OFFICER**

**I. Purposes of the Code/Covered Officers**

This document constitutes the Code of Ethics (Code) adopted by the Fidelity Funds (Funds) pursuant to Section 406 of the Sarbanes-Oxley Act of 2002. The Code applies to the Fidelity Funds' President and Treasurer, and Chief Financial Officer (Covered Officers). Fidelity's Ethics Office, within Enterprise Compliance, administers the Code.

The purposes of the Code are to deter wrongdoing and to promote, on the part of the Covered Officers:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· full, fair, accurate, timely and understandable disclosure in reports and documents that the Fidelity Funds submit to the Securities and Exchange Commission (SEC), and in other public communications by a Fidelity Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· compliance with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· the prompt internal reporting to an appropriate person or persons identified in the Code of violations of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· accountability for adherence to the Code.

Each Covered Officer should adhere to a high standard of business ethics and should be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

**II.** **Covered Officers Should Handle Ethically** 

**Actual and Apparent Conflicts of Interest**

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or their service to, the Fidelity Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of their family, receives improper personal benefits as a result of their position with the Fidelity Funds.

Certain conflicts of interest arise out of the relationships between Covered Officers and the Fidelity Funds and already are subject to conflict of interest provisions in the Investment Company Act of 1940 (Investment Company Act) and the Investment Advisers Act of 1940 (Investment Advisers Act). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with a Fidelity Fund because of their status as "affiliated persons" of the Fund. Separate compliance programs and procedures of the Fidelity Funds, Fidelity Management & Research Company (FMR) and the other Fidelity companies are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the Fidelity Funds and FMR (or another Fidelity company) of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the Fidelity Funds, FMR or another Fidelity company), be involved in establishing policies and implementing decisions that have different effects on the Fidelity Funds, FMR and other Fidelity companies. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the Fidelity Funds and FMR (or another Fidelity company) and is consistent with the performance by the Covered Officers of their duties as officers of the Fidelity Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the Funds' Board of Trustees (Board) that the Covered Officers also may be officers or employees of one or more other Fidelity Funds covered by this Code.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of a Fidelity Fund.

\* \* \*

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not use their personal influence or personal relationships improperly to influence investment decisions or financial reporting by any Fidelity Fund whereby the Covered Officer would benefit personally to the detriment of any Fidelity Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not cause a Fidelity Fund to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit of the Fidelity Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not engage in any outside business activity, including serving as a director or trustee, that prevents the Covered Officer from devoting appropriate time and attention to the Covered Officer's responsibilities with the Fidelity Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not have a consulting or employment relationship with any of the Fidelity Funds' service providers that are not affiliated with Fidelity; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· not retaliate against any employee or Covered Officer for reports of actual or potential misconduct, which are made in good faith.

With respect to other fact patterns, if a Covered Officer is in doubt, other potential conflict of interest situations should be described immediately to the Fidelity Ethics Office for resolution. Similarly, any questions a Covered Officer has generally regarding the application or interpretation of the Code should be directed to the Fidelity Ethics Office immediately.

**III. Disclosure and Compliance**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should familiarize themself with the disclosure requirements generally applicable to the Fidelity Funds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about any Fidelity Fund to others, whether within or outside Fidelity, including to the Board and auditors, and to governmental regulators and self-regulatory organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Each Covered Officer should, to the extent appropriate within their area of responsibility, consult with other officers and employees of the Fidelity Funds, FMR and the Fidelity service providers, and with the Board's Compliance Committee, with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the Fidelity Funds file with, or submit to, the SEC and in other public communications made by the Fidelity Funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

**IV. Reporting and Accountability**

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· upon receipt of the Code, and annually thereafter, submit to the Fidelity Ethics Office an acknowledgement stating that they have received, read, and understand the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· notify the Fidelity Ethics Office promptly if they know of any violation of the Code. <u>Failure to do so is itself a violation of this Code</u>.

The Fidelity Ethics Office shall take all action it considers appropriate to investigate any actual or potential violations reported to it. Upon completion of the investigation, if necessary, the matter will be reviewed with senior management or other appropriate parties, and a determination will be made as to whether any action should be taken as detailed below. The Covered Officer will be informed of any action determined to be appropriate. The Fidelity Ethics Office will inform the Personal Trading Committee of all Code violations and actions taken in response. Without implied limitation, appropriate remedial, disciplinary or preventive action may include a written warning, a letter of censure, suspension, dismissal or, in the event of criminal or other serious violations of law, notification of the SEC or other appropriate law enforcement authorities. Additionally, other legal remedies may be pursued.

The policies and procedures described in the Code do not create any obligations to any person or entity other than the Fidelity Funds. The Code is intended solely for the internal use by the Fidelity Funds and does not constitute a promise, contract or an admission by or on behalf of any Fidelity Fund as to any fact, circumstance, or legal conclusion. The Fidelity Funds, the Fidelity companies and the Fidelity Head of Ethics retain the discretion to decide whether the Code applies to a specific situation, and how it should be interpreted.

**V. Oversight**

Material violations of this Code will be reported promptly by FMR (or another Fidelity company) to the Board's Compliance Committee. In addition, at least once each year, FMR (or another Fidelity company) will provide a written report to the Board, which describes any issues arising under the Code since the last report to the Board, including, but not limited to, information about material violations of the Code and action taken in response to the material violations.

**VI. Other Policies and Procedures** 

This Code shall be the sole code of ethics adopted by the Fidelity Funds for purposes of Section 406 of the Sarbanes-Oxley Act. Other Fidelity policies or procedures that cover the behavior or activities of Covered Officers are separate requirements applying to the Covered Officers (and others) and are not part of this Code.

**VII. Amendments**

Any material amendments or changes to this Code must be approved or ratified by a majority vote of the Board, including a majority of the Trustees who are not interested persons of the Fidelity Funds.

**VIII. Records and Confidentiality**

Records of any violation of the Code and of the actions taken as a result of such violations will be kept by the Fidelity Ethics Office. All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the Fidelity Ethics Office, the Personal Trading Committee, the Board, appropriate personnel at the relevant Fidelity company or companies and the legal counsel of any or all of the foregoing.

2023

## Ex-99.Cert

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<u>Exhibit EX-99.CERT</u>

I, Laura M. Del Prato, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Court Street Trust II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:

January 22, 2026

---

| |
|:---|
| &nbsp;&nbsp;<u>/s/Laura M. Del Prato</u> |
| &nbsp;&nbsp;Laura M. Del Prato |
| &nbsp;&nbsp;President and Treasurer (Principal Executive Officer) |

---

I, Stephanie Caron, certify that:

1. I have reviewed this report on Form N-CSR of Fidelity Court Street Trust II;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date:

January 22, 2026

---

| |
|:---|
| &nbsp;&nbsp;<u>/s/Stephanie Caron</u> |
| &nbsp;&nbsp;Stephanie Caron |
| &nbsp;&nbsp;Chief Financial Officer (Principal Financial Officer) |

---

## Exhibit 99.906

<u>Exhibit EX-99.906CERT</u>

**Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code)**

In connection with the attached Report of Fidelity Court Street Trust II (the "Trust") on Form N-CSR to be filed with the Securities and Exchange Commission (the "Report"), each of the undersigned officers of the Trust does hereby certify that, to the best of such officer's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of, and for, the periods presented in the Report.

Dated: January 22, 2026

---

| |
|:---|
| &nbsp;&nbsp;<u>/s/Laura M. Del Prato</u> |
| &nbsp;&nbsp;Laura M. Del Prato |
| &nbsp;&nbsp;President and Treasurer (Principal Executive Officer) |

---

Dated: January 22, 2026

---

| |
|:---|
| &nbsp;&nbsp;<u>/s/Stephanie Caron</u> |
| &nbsp;&nbsp;Stephanie Caron |
| &nbsp;&nbsp;Chief Financial Officer (Principal Financial Officer) |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Trust and will be retained by the Trust and furnished to the Securities and Exchange Commission or its staff upon request.

<br>