Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 48

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 48
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 such leverage, the performance of its investments, the movement of interest rates and general market conditions. In addition, the Combined Fund’s future earnings will vary depending upon the combination of completed Reorganizations. There can be no assurance that the future earnings of a Fund, including the Combined Fund after the Reorganizations, will remain constant. 14

Potential Effects of the Reorganizations on Premium/Discount to NAV of Common Shares.
Each Board noted that the common shares of its Fund have historically traded at both a premium and a discount. As of July 31, 2025, the NAV per common share of MVT was $[●] and the market price per common share of MVT was $[●],
representing a discount to NAV of [●]%, the NAV per common share of MIY was $[●] and the market price per common share of MIY was $[●], representing a discount to NAV of [●]%, the NAV per common share of MVF was $[●]
and the market price per common share of MVF was $[●], representing a discount to NAV of [●]%, and the NAV per common share of the Acquiring Fund was $[●] and the market price per common share of the Acquiring Fund was $[●],
representing a discount to NAV of [●]%. The Boards of MVT, MIY and MVF noted that to the extent MVT’s, MIY’s and MVF’s common shares are trading at a wider discount (or a narrower premium) than the Acquiring Fund at the time of
the Reorganizations, MVT’s, MIY’s and MVF’s common shareholders would have the potential for an economic benefit by the narrowing of the discount or widening of the premium. The Boards of MVT, MIY and MVF also noted that to the extent
MVT’s, MIY’s or MVF’s common shares are trading at a narrower discount (or wider premium) than the Acquiring Fund at the time of the Reorganizations, MVT’s, MIY’s and MVF’s common shareholders may be negatively impacted
if its Reorganization is consummated. The Board of the Acquiring Fund noted that Acquiring Fund common shareholders would only benefit from a premium/discount perspective to the extent the post-Reorganization discount (or premium) of the Acquiring
Fund common shares improves. There can be no assurance that, after the Reorganizations, common shares of the Combined Fund will trade at a narrower