Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 43

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 43
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 will be charged to
shareholders of MVT, MIY and MVF in connection with their receipt of Acquiring Fund Shares in the Reorganizations.

As soon as practicable
after the Closing Date for the Reorganizations, each of MVT, MIY and MVF will deregister as an investment company under the 1940 Act and liquidate, dissolve and terminate in accordance with its respective charter and Maryland law. The Acquiring Fund
will continue to operate after the Reorganizations as a registered, diversified, closed-end management investment company with the investment objective, investment strategies, investment policies and
investment restrictions described in this Joint Proxy Statement/Prospectus.

Each Reorganization is not contingent upon the approval of
any other Reorganization. If a Reorganization is not consummated, the Fund for which such Reorganization(s) was not consummated would continue to exist and operate on a standalone basis. Both the Target Fund and the Acquiring Fund will continue to
be advised by the Investment Advisor. If a Reorganization is not consummated, the Investment Advisor may recommend alternative proposals to the Board of each Fund for which such Reorganization was not consummated.

The Board’s Recommendation

The Board of MVT recommends that the common shareholders of MVT vote “FOR” the proposed MVT Reorganization Agreement at the Special
Meeting.

The Board of MIY recommends that the common shareholders of MIY vote “FOR” the proposed MIY Reorganization Agreement
at the Special Meeting.

The Board of MVF recommends that the common shareholders of MVF vote “FOR” the proposed MVF
Reorganization Agreement at the Special Meeting.

The Board of the Acquiring Fund recommends that common shareholders of the Acquiring
Fund vote “FOR” the proposed MVT Issuance at the Special Meeting.

The Board of the Acquiring Fund recommends that common
shareholders of the Acquiring Fund vote “FOR” the proposed MIY Issuance at the Special Meeting.

The Board of the Acquiring Fund
recommends that common shareholders of the Acquiring Fund vote “FOR” the proposed MVF Issuance at the Special Meeting.

Shareholder approval of the MVT Reorganization Agreement requires (i) with respect to Proposal 1(A), the affirmative vote of the holders
of a majority of the outstanding MVT common shares and MVT VMTP Shares voting as a single class, (ii) with respect to Proposal 1(B), the affirmative vote of the holders of a 1940 Act Majority