Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 343

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 343
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 total assets, invest more than 5% of the value of its total assets (taken at market                                                                                                                                            
 value at time of purchase) in the outstanding securities of any other issuer or own more than 10% of the outstanding voting securities of any one issuer, in each case other than securities issued or guaranteed by the U.S. government or any agency or 
 instrumentality thereof or other investment companies;                                                                                                                                                                                                    |

| • |     | invest 25% of more of the value of its total assets in any one industry provided that such limitation shall                                     
 not be applicable to municipal obligations other than those municipal obligations backed only by assets and revenues of non-governmental users; |

| • |     | issue senior securities other than (a) preferred shares not in excess of the excess of 50% of its total                                                                                                                                             
 assets over any senior securities described in clause (b) below that are outstanding, (b) senior securities other than preferred shares (including borrowing money, including on margin if margin securities are owned and through entering         
 into reverse repurchase agreements) not in excess of 33 1/3% of its total assets, and (c) borrowings up to 5% of its total assets for temporary purposes without regard to the amount of senior securities outstanding under clauses (a) and        
 (b) above; provided, however, that the Fund’s obligations under interest rate swaps, when issued and forward commitment transactions and similar transactions are not treated as senior securities if covering assets are appropriately segregated; 
 or pledge its assets other than to secure such issuances or in connection with Hedging Transactions, short sales, when-issued and forward commitment transactions and similar investment strategies. For                                            |

B-2

| purposes of clauses (a), (b) and (c) above, “total assets” shall be calculated after giving effect to the net proceeds of any such issuance and net of any liabilities and              
 indebtedness that do not constitute senior securities except for such liabilities and indebtedness as are excluded from treatment as senior securities by the proviso to this item (3); |

| • |     | make loans of money or property to any person, except through loans of portfolio securities, the purchase of                                            
 fixed income securities consistent with the Fund’s investment objective and policies or the acquisition of securities subject to repurchase agreements; |

| • |     | underwrite the securities of other issuers, except to the extent that in connection with the disposition of 
 portfolio securities or the sale of its own shares the Fund may be