Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 235

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 235
---
 investment management fee rate than MIY. Please see “Expense Table For Common Shareholders” in the Joint Proxy Statement/Prospectus for additional
information.

Based on a pro forma Broadridge peer expense universe for the Combined Fund, the estimated total
annual fund expense ratio (excluding leverage expenses and taxes) is expected to be in the first quartile and contractual investment management fee rate and actual investment management fee rate over total assets are each expected to be in the first
quartile. Each fund in the Broadridge peer expense universe is placed in one of four quartiles for each relevant comparison, with the first quartile including funds with the lowest relative expenses and the fourth quartile including funds with the
highest relative expenses

There can be no assurance that future expenses of the Combined Fund will not increase or that
any expense savings for any Fund will be realized as a result of any Reorganization.

128

A discussion regarding the basis for the approval of the Investment Management Agreement by the Board of each Fund is provided in such Fund’s Form N-CSRfor such Fund’s recent fiscal year end, which will be available at www.sec.gov or by visiting www.blackrock.com. The Investment Advisor is located at 100 Bellevue Parkway, Wilmington, Delaware 19809 and is a majority-owned subsidiary of BlackRock. BlackRock is one of the world’s largest publicly-traded investment management firms. As of June 30, 2025, BlackRock’s assets under management were approximately $12.5 trillion. BlackRock has over 35 years of experience managing closed-endproducts and, as of June 30, 2025, advised a registered closed-endfamily of 49 exchange-listed active funds with approximately $43 billion in assets. BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. BlackRock helps clients meet their goals and overcome challenges with a range of products that include separate accounts, mutual funds, iShares ®(exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions ®. Headquartered in New York City, as of June 30, 2025, the firm had approximately 20,000 employees in more than 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. Portfolio Management Each of the Funds is managed by a team of investment professionals led