Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 298

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 298
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 MIY are being asked to consider Proposal 1(C) below. With respect to Proposal 1(C),
abstentions and broker non-votes will be counted as shares present and will therefore have the same effect as votes “AGAINST” the proposal.

Common shareholders of MVF are being asked to consider Proposal 1(E) below. With respect to Proposal 1(E), abstentions and
broker non-votes will be counted as shares present and will therefore have the same effect as votes “AGAINST” the proposal.

Common shareholders of the Acquiring Fund are being asked to consider Proposals 2(A) and 2(B) below. With respect to Proposals
2(A), 2(B) and 2(C), abstentions will be counted as “votes cast” and will therefore have the same effect as votes “AGAINST” the proposal and broker non-votes will not have any effect on
the result of the vote.

178

Voting Requirement for Proposal 1: The Reorganizations of the Funds

| Proposals                                                                                                                                                                                                                                               |     | Required Approval of                  
 Shareholders                          |
| Proposal 1(a): The common shareholders and VMTP Holders of MVT are being                                                                                                                                                                                
 asked to vote as a single class on a proposal to approve the MVT Reorganization Agreement and the transactions contemplated therein, including (i) the acquisition by the Acquiring Fund of substantially all of MVT’s assets and the                   
 assumption by the Acquiring Fund of substantially all of MVT’s liabilities in exchange solely for newly issued common shares and VRDP Shares of the Acquiring Fund, which will be distributed to the common shareholders (although cash may be          
 distributed in lieu of fractional common shares) and VMTP Holders, respectively, of MVT, and which shall constitute the sole consideration to be distributed or paid to the common shareholders (although cash may be distributed in lieu of fractional 
 common shares) and the VMTP Holders in respect of their common shares and VMTP Shares, respectively, and (ii) the termination by MVT of its registration under the 1940 Act, and the liquidation, dissolution and termination of MVT in accordance      
 with its charter and Maryland law.                                                                                                                                                                                                                      |     | Majority of votes entitled to be cast |
| Proposal 1(C): The common shareholders and VRDP Holders of MIY are being                                                                                                                                                                                
 asked to vote as a single class on a proposal to approve the MIY Reorganization Agreement and the transactions contemplated therein, including (i)