Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 299

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 299
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 a proposal to approve the MVT Issuance. |     | Majority of votes entitled to be cast |
| Proposal 2(B): The common shareholders and VRDP Holders of the Acquiring                  
 Fund are being asked to vote as a single class on a proposal to approve the MIY Issuance. |     | Majority of outstanding shares        |
| Proposal 2(C): The common shareholders and VRDP Holders of the Acquiring                  
 Fund are being asked to vote as a single class on a proposal to approve the MVF Issuance. |     | Majority of outstanding shares.       |

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SHAREHOLDER INFORMATION Unless otherwise indicated, the information set forth below is as of August 18, 2025. To each Fund’s knowledge, no person beneficially owned more than 5% of the Fund’s respective outstanding common shares, except as set forth below.

| Fund† |     | Investor                           |     | Address                               |     |    Common 
    Shares 
      Held |     | Common   
 Shares % 
 Held     |
| MVF   |     | Karpus Investment Management       |     | 183 Sully’s Trail Pittsford, NY 14534 |     | 9,074,236 |     | 15.83%   |
| MVF   |     | RiverNorth Capital Management, LLC |     | 360 S. Rosemary Avenue,               
 Ste. 1420 West Palm Beach,            
 Florida 33401                         |     | 3,269,092 |     | 5.42%    |
| MVT   |     | RiverNorth Capital Management, LLC |     | 360 S. Rosemary Avenue,               
 Ste. 1420 West Palm Beach,            
 Florida 33401                         |     | 2,191,124 |     | 10.26%   |

As of August 1, 2025, the officers and Board Members of each Fund, as a group, beneficially owned less than 1% of the outstanding common shares of each such Fund and none of the outstanding VMTP Shares or VRDP Shares, as applicable of each such Fund. SHAREHOLDER PROPOSALS To be considered for presentation at a shareholder’s meeting, rules promulgated by the SEC generally require that, among other things, a shareholder’s proposal must be received at the offices of the relevant Fund a reasonable time before solicitation is made. In addition, each Fund’s bylaws provide for advance notice provisions, which require shareholders