Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 366

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 366
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 employees and of The PNC
Financial Services Group, Inc. (which, through a subsidiary, has a significant economic interest in BlackRock, Inc.) and its subsidiaries (each with The PNC Financial Services Group, Inc., an “Entity” and collectively, the
“Entities”) in the management of, or their interest in, their own accounts and other accounts they manage, may present conflicts of interest that could disadvantage the Acquiring Fund and its shareholders. The Investment Advisor, its
Affiliates and the Entities provide investment management services to other funds and discretionary managed accounts that may follow investment programs similar to that of the Acquiring Fund. Subject to the requirements of the 1940 Act, the
Investment Advisor, its Affiliates and the Entities intend to engage in such activities and may receive compensation from third parties for their services. None of the Investment Advisor, its Affiliates or the Entities are under any obligation to
share any investment opportunity, idea or strategy with the Acquiring Fund. As a result, the Investment Advisor, its Affiliates and the Entities may compete with the Acquiring Fund for appropriate investment opportunities. The results of the
Acquiring Fund’s investment activities, therefore, may differ from those of an Affiliate, and Entity or another account managed by an Affiliate or an Entity and it is possible that the Acquiring Fund could sustain losses during periods in
which one or more Affiliates, Entities and other accounts achieve profits on their trading for proprietary or other accounts. The Investment Advisor has adopted policies and procedures designed to address potential conflicts of interest.

Defensive Investing Risk.For defensive purposes, the Acquiring Fund may allocate assets into cash or short-term fixed
income securities. In doing so, the Acquiring Fund may succeed in avoiding losses but may otherwise fail to achieve its investment objective. Further, the value of short-term fixed income securities may be affected by changing interest rates and by
changes in credit ratings of the investments. If the Acquiring Fund holds cash uninvested it will be subject to the credit risk of the depository institution holding the cash.

Decision-Making Authority Risk.Investors have no authority to make decisions or to exercise business discretion on
behalf of the Acquiring Fund, except as set forth in the Acquiring Fund’s governing documents. The authority for all such decisions is generally delegated to the Board, which in turn, has delegated the day-to-day management of the Acquiring Fund’s investment activities to the Investment Advisor, subject to oversight by the Board.

Management Risk.The