Blackrock Funds II

12/16/2025 | Press release | Distributed by Public on 12/16/2025 05:00

Prospectus by Investment Company (Form 497)

BLACKROCK FUNDS II

BlackRock Dynamic High Income Portfolio

(the "Fund")

Supplement dated December 16, 2025 to the Summary Prospectuses and the

Prospectuses of the Fund, each dated November 28, 2025

Effective December 31, 2025, the following changes are made to the Fund's Summary Prospectuses and Prospectuses, as applicable:

The section of the Summary Prospectuses entitled "Key Facts About BlackRock Dynamic High Income Portfolio - Portfolio Managers" and the section of the Prospectuses entitled "Fund Overview - Key Facts About BlackRock Dynamic High Income Portfolio - Portfolio Managers" are deleted in their entirety and replaced with the following:

Portfolio Managers

Portfolio Manager

Portfolio Manager of

the Fund Since

Title
Justin Christofel, CFA 2014 Managing Director of BlackRock, Inc.
Louis Arranz, CFA 2025 Director of BlackRock, Inc.

The section of the Prospectuses entitled "Details About the Fund - How the Fund Invests - About the Portfolio Management Team of the Fund" is deleted in its entirety and replaced with the following:

ABOUT THE PORTFOLIO MANAGEMENT TEAM OF THE FUND
The Fund is managed by a team of financial professionals. Justin Christofel, CFA and Louis Arranz, CFA are the portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund. Please see "Management of the Fund - Portfolio Manager Information" for additional information about the portfolio management team.

The section of the Prospectuses entitled "Management of the Fund - Portfolio Manager Information" is deleted in its entirety and replaced with the following:

Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund's SAI.

Portfolio Manager Primary Role Since Title and Recent Biography
Justin Christofel, CFA Jointly and primarily responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. 2014 Managing Director of BlackRock, Inc. since 2016.
Louis Arranz, CFA Jointly and primarily responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. 2025 Director of BlackRock, Inc. since 2023; Vice President of BlackRock, Inc. from 2020 to 2022.

Shareholders should retain this Supplement for future reference.

Blackrock Funds II published this content on December 16, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on December 16, 2025 at 11:00 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]