Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 11

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 11
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 to their percentage holdings of outstanding VRDP Shares, if any, of their respective Fund prior to the Reorganizations.

| Q: | How similar are the Funds? |

A: The Funds have the same investment adviser, officers and directors. MVT, MIY, MVF and the Acquiring Fund are each formed as a Maryland corporation. iv

Each of the Acquiring Fund, MVT, MIY and MVF has its common shares listed on the NYSE. The Acquiring Fund and MIY each has privately placed VRDP Shares outstanding. MVT and MVF each has privately placed VMTP Shares outstanding. Each of the Acquiring Fund, MVT, MIY and MVF are managed by a team of investment professionals led by Michael Kalinoski, CFA, Director at BlackRock, Walter O’Connor, CFA, Managing Director at BlackRock, Christian Romaglino, CFA, Director at BlackRock, Kevin Maloney, CFA, Director at BlackRock, Phillip Soccio, CFA, Director at BlackRock and Kristi Manidis, Director at BlackRock. Following the Reorganizations, it is expected that the Combined Fund will be managed by the same team of investment professionals. The investment objective, significant investment strategies and operating policies, and investment restrictions of the Combined Fund will be those of the Acquiring Fund, which are similar to those of MVT, MIY and MVF, although there are some differences. Investment Objective:

| MVT                                                                                                                                                                                                            |     | MIY                                                                                                                                                                                                                         |     | MVF                                                                                                                                                                                                            |     | Acquiring Fund (MYI)                                                                                                                                                                                              |
| MVT’s investment objective is to provide stockholders with as high a level of current income exempt from federal income taxes as is consistent with its investment policies and prudent investment management. |     | MIY’s investment objective is to provide shareholders with as high a level of current income exempt from federal and Michigan income taxes as is consistent with its investment policies and prudent investment management. |     | MVF’s investment objective is to provide shareholders with as high a level of current income exempt from federal income taxes as is consistent with its investment policies and prudent investment management. |     | The Acquiring Fund’s investment objective is to provide shareholders with as high a level of current income exempt from federal income taxes as is consistent with its investment policies and prudent investment 
 management.                                                                                                                                                                                                       |

Municipal Bonds: Below is a comparison of each Fund’s 80% investment policy with respect to municipal obligations