Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 306

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 306
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 Acquiring Fund shall issue to each Target Fund Holder book-entry interests for the Acquiring Fund VRDP
Shares registered in the name of such Target Fund of the Target Fund [VRDP][VMTP]Shares. The Target

[Applies to MIY.]

[Applies to MVF and MVT.]

[Applies to MIY.]

[Applies to MVF and MVT.]

[Applies to MIY.]

[Applies to MVF and MVT.]

[Applies to MIY.]

[Applies to MVF and MVT.]

[Applies to MIY.]

[Applies to MVF and MVT.]

A-10

Fund [VRDP][VMTP] Holders shall not receive, or be entitled to, any payment or other
consideration in connection with or as a result of the Reorganization other than as provided in this Agreement. In connection with such issuance, the Acquiring Fund shall amend (or shall already have amended) the Acquiring Fund VRDP Shares’
Articles Supplementary Establishing and Fixing the Rights and Preferences of Variable Rate Demand Preferred Shares (the “”), share certificates representing such Acquiring Fund VRDP Shares and such other
agreements, instruments or documents relating to the Acquiring Fund VRDP Shares, in each case as of, or prior to, the Closing Date and only to the extent necessary or applicable to such agreement, instrument or document, to reflect the authorization
and issuance of additional Acquiring Fund VRDP Shares in connection with the Reorganization.

(f) No
fractional shares of Acquiring Fund Common Shares will be issued to holders of Target Fund Common Shares unless such shares are held in a Dividend Reinvestment Plan account. In lieu thereof, the Acquiring Fund’s transfer agent will aggregate
all fractional Acquiring Fund Common Shares to be issued in connection with the Reorganization (other than those issued to a Dividend Reinvestment Plan account) and sell the resulting full shares on the New York Stock Exchange at the current market
price for Acquiring Fund Common Shares for the account of all holders of such fractional interests, and each such holder will receive such holder’s pro rata share of the proceeds of such sale upon issuance of book-entry interests representing
Acquiring Fund Common Shares.

5. PAYMENT OF EXPENSES.

(a) The Target Fund and the Acquiring Fund will bear expenses incurred in connection with the Reorganization,
including but not limited to, costs related to the preparation and distribution of materials distributed to each Fund’s Board of Directors