Company: MYI
Filing Date: 2025-07-15
Form Type: 425
Source: 0001193125-25-159406
Chunk: 33

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-15
Form: 425
Chunk 33
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 (determined by multiplying the Fund’s gross monthly income by the ratio of (i) the liquidation preference of any outstanding preferred shares to (ii) total assets of the Fund minus the sum of its accrued liabilities (which does not include liabilities represented by TOB Trusts and the liquidation preference of any outstanding preferred shares)). This voluntary waiver may be reduced or discontinued at any time without notice. In addition, the Fund received its pro rata portion of a one-timeaggregate $2 million voluntary advisory fee waiver. A discussion regarding the basis for the approval of the Investment Management Agreement by the Board is available in the Fund’s Annual Report to stockholders for the period ended July 31, 2024. 11

The Fund also is a party to certain other service agreements. The Fund is a party to an Amended and Restated Transfer Agency Agreement with Computershare Trust Company, N.A. (“Computershare”). The Fund pays Computershare a monthly fee plus out-of-pocketexpenses for the services it provides as transfer, stockholders services and dividend disbursing agent for the Fund. State Street Bank and Trust Company (“State Street”) serves as custodian for the Fund’s portfolio securities pursuant to the Custodian Agreement (“Custodian Agreement”) entered into with the Fund. Under the Custodian Agreement, the Fund is obligated to pay State Street reasonable compensation for its services and expenses as agreed upon from time to time between the Fund and State Street. The amounts paid by the Fund under these service agreements are disclosed in the Fund’s financial statements, which can be found in the Fund’s annual and semi-annual reports.

| 12. | Certain Information about the Fund. |

The Fund was organized as a Maryland corporation on July 7, 1988 pursuant to its Articles of Incorporation, as subsequently amended, is governed by the laws of the State of Maryland, and commenced operations on September 29, 1998. The Fund is registered under the 1940 Act as a diversified, closed-endmanagement investment company. The Fund’s principal office is located at 100 Bellevue Parkway, Wilmington, Delaware 19809, and its telephone number is (800) 882-0052.As a closed-endinvestment company, the Fund differs from an open-endinvestment company (i.e., a mutual fund) in that it does not redeem its Shares at the election of a stockholder. The Fund’s investment objective is to provide shareholders with as high a level of current income exempt from U.S. federal income taxes