Company: MYI
Filing Date: 2025-07-16
Form Type: N-14 8C
Source: 0001193125-25-159991
Chunk: 106

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-07-16
Form: N-14 8C
Chunk 106
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, in connection with ongoing management of the Fund for which such Reorganization(s) was not consummated and its product line, recommend alternative proposals to the Board of that Fund. Before reaching these conclusions,
the Board of each Fund, including the Independent Board Members, engaged in a thorough review process relating to the Reorganizations, as well as alternatives to the Reorganizations. The Board of each Fund also received a memorandum outlining, among
other things, the legal standards and certain other considerations relevant to the Board’s deliberations.

The Board of each Fund
considered the Reorganizations over a series of meetings. In preparation for the Approval, the Investment Advisor provided each Board with information regarding the Reorganizations, including the rationale therefor and alternatives considered to the
Reorganizations.

Each Board considered a number of factors presented at the time of the Approval or prior meetings in reaching their
determinations, including, but not limited to, the following, which are discussed in further detail below:

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| • |     | potential for improved economies of scale and a lower Total Expense Ratio (excluding leverage expenses) with 
 respect to each Fund;                                                                                        |

| • |     | the potential effects of the Reorganizations on the earnings and distributions of each Fund; |

| • |     | the potential effects of the Reorganizations on each Fund’s premium/discount to NAV of common shares; |

| • |     | the potential effects of the Reorganizations on each Fund’s preferred shares; |

| • |     | the compatibility of the Funds’ investment objectives, investment strategies and policies and related 
 risks and risk profiles;                                                                              |

| • |     | consistency of portfolio management and portfolio composition; |

| • |     | the potential for improved secondary market trading, including the potential for greater secondary market                                                                                          
 liquidity for the Combined Fund’s common shares, which may result in tighter bid-ask spreads and better trade execution for the Combined Fund’s common shareholders when purchasing or selling the 
 Combined Fund’s common shares;                                                                                                                                                                     |

| • |     | the potential for operating and administrative efficiencies for the Combined Fund, including the potential for 
 the following benefits:                                                                                        |

| • |     | greater investment flexibility and investment options, greater diversification of portfolio investments, the                                  
 ability to trade in larger positions, additional sources of leverage or more competitive leverage terms and more favorable transaction terms; |

| • |     | benefits from having fewer closed-end funds offering similar products                                                                                             
 in the market, including an increased focus by investors on the remaining funds in