Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 308

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 308
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the “MVT Retired Preferred Shares”), and 777 shares of Series W-7 Variable Rate Muni-Term Preferred Shares, par value
$0.10, with a liquidation preference of $100,000 (the “Target Fund VMTP Shares” and together with the Target Fund Common Shares, the MVT AMPS Non-Series Shares, the MVT AMPS Series A Shares, MVT AMPS
Series B Shares, MVT AMPS Series C Shares, MVT AMPS Series D Shares, and the MVT Retired Preferred Shares, collectively the “Target Fund Shares”)]. Each issued and outstanding Target Fund Share is duly and validly issued and is fully paid
and nonassessable, except as provided by the Target Fund’s charter, and has the voting rights provided by the Target Fund’s charter, By-laws and applicable law. The Target Fund has no issued and
outstanding preferred shares other than [2,319 Target Fund VRDP] [[1,536] [777] Target Fund VMTP] Shares; no outstanding options, warrants or other rights to subscribe for or purchase any Target Fund Shares; and no outstanding securities convertible
into Target Fund Shares. All of the issued and outstanding Target Fund Common Shares will, at the time of the Closing, be held by the persons and in the amounts set forth in the records of the Target Fund’s transfer agent as provided in
Section 7(d).

(p) All of the issued and outstanding Target Fund Shares were offered for sale and sold
in conformity with all applicable federal and state securities laws.

(q) The Target Fund will not sell or
otherwise dispose of any of the Acquiring Fund Shares to be received in the Reorganization, except in distribution to the Target Fund Shareholders as provided in Section 3 of this Agreement.

(r) The books and records of the Target Fund made available to the Acquiring Fund and/or its counsel are
substantially true and correct and contain no material misstatements or omissions with respect to the operations of the Target Fund.

(s) The Target Fund has elected to qualify and has qualified as a RIC within the meaning of Section 851 of
the Code for each of its taxable years since its inception, and the Target Fund has satisfied the distribution requirements imposed by Section 852 of the Code to maintain RIC status for each of its taxable years.

3. THE REORGANIZATION.

A-7

(a) Subject to receiving the requisite approvals of the Target
Fund Shareholders and the