Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 253

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 253
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, the applicable Fund may incur remarketing fees at the annual rate set forth below:

| Fund       |     | Remarketing             
 Agent                   |     | Remarketing Agent Fee |
| MIY        |     | TD Securities (USA) LLC |     | [●]                   |
| Acquiring  
 Fund (MYI) |     | TD Securities (USA) LLC |     | [●]                   |

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The Acquiring Fund am MIY are required to redeem their VRDP Shares on June 1, 2041 and
May 1, 2041, respectively, the mandatory redemption date for such VRDP Shares, unless earlier redeemed or repurchased. Six months prior to the mandatory redemption date, the applicable Fund is required to begin to segregate liquid assets with
its custodian to fund the redemption. In addition, the Fund is required to redeem certain of its outstanding VRDP Shares if it fails to maintain certain asset coverage, basic maintenance amount or leverage requirements.

Subject to certain conditions, the Acquiring Fund’s and MIY’s VRDP Shares may be redeemed, in whole or in part, at any time at the
option of the applicable Fund. The redemption price per VRDP Share is equal to the liquidation value per VRDP Share plus any outstanding unpaid dividends.

Except during a special rate period, dividends on the Acquiring Fund’s and MIY’s VRDP Shares are payable monthly at a variable rate
set weekly by the remarketing agent. Such dividend rates are generally based upon a spread over a base rate and cannot exceed a maximum rate. In the event of a failed remarketing, the dividend rate of the VRDP Shares will be reset to a maximum rate.
The maximum rate is determined based on, among other things, the long-term preferred share rating assigned to the VRDP Shares and the length of time that the VRDP Shares fail to be remarketed. [The maximum rate of the VRDP Shares will not exceed 15%
per annum, exclusive of any applicable gross-up payments or increased dividend payment relating to the inclusion in any dividend of net capital gains or ordinary income taxable for regular U.S. federal income
tax purposes.]

As of July 31, 2025, the VRDP Shares of the Acquiring Fund and MIY have a long-term ratings of [Aa1] and [Aa2] from
Moody’s, respectively, and [AA] and [AA] from Fitch, respectively.

The short-term ratings on the VRDP Shares of the