Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 71

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 71
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 |     | 46.80%     |
| Pro forma Combined Fund (MVT into MYI)           |     | VRDP     
 Shares   |     |       4,341 |     |    $100,000 |     | $434,100,000 |     |    $1,678,299,384 |     | 43.54%     |
| Pro forma Combined Fund (MVT, MIY, MVF into MYI) |     | VRDP     
 Shares   |     |       8,196 |     |    $100,000 |     | $819,600,000 |     |    $2,957,562,774 |     | 46.59%     |

The MVT and MVF VMTP Shares and the Acquiring Fund and MIY VRDP Shares were offered to qualified institutional buyers in private transactions exempt from registration under the Securities Act. The annualized dividend rates for the preferred shares for each Fund for the twelve-month period ended January 31, 2025 were as follows:

| Fund |     | Preferred Shares |     | Rate  |
| MVT  |     | VMTP Shares      |     | 4.69% |

28

| MIY                  |     | VRDP Shares |     | 4.22% |
| MVF                  |     | VMTP Shares |     | 4.69% |
| Acquiring Fund (MYI) |     | VRDP Shares |     | 4.22% |

The Board of each Fund has authorized the redemption of up to 67% of the Fund’s currently outstanding VRDP or VMTP Shares, as applicable, on one or more occasions between April 1, 2025 and October 1, 2025. Any such redemption is not related to the Reorganization or contingent on shareholder approval of the Reorganization. The timing and amount of any redemption of a Fund’s currently outstanding VRDP Shares would depend on a number of factors, including, among others, the desired mix of leverage from preferred shares versus TOBs, yield levels and borrowing costs. Description of the VRDP Shares of the Acquiring Fund and MIY The Acquiring Fund and MIY VRDP Shares each have the benefit of an unconditional demand feature pursuant to a purchase agreement provided by Toronto-Dominion Bank acting as liquidity provider to ensure full and timely repayment of the liquidation preference amount plus any accumulated and unpaid dividends to holders upon the occurrence of certain events (the “L