Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 59

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 59
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 MIY, MVF and the Acquiring Fund are estimated to be approximately $274,000, $397,000, $352,000 and $480,000, respectively, of which the
Investment Advisor will bear approximately $0, $20,000, $0 and $0, respectively. The actual costs associated with the Reorganizations may be more or less than the estimated costs discussed herein. Each Board also noted that the VMTP Holders or VRDP
Holders, as applicable, are not expected to bear any of the costs of the Reorganizations, while the common shareholders of the Funds will indirectly bear the costs of the Reorganizations.

Neither the Funds nor the Investment Advisor will pay any direct expenses of shareholders arising out of or in connection with the
Reorganizations (e.g., expenses incurred by the shareholder as a result of attending the Special Meeting, voting on the Reorganizations or other action taken by the shareholder in connection with the Reorganizations). The actual costs
associated with the Reorganizations may be more or less than the estimated costs discussed herein.

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APPRAISAL RIGHTS

Under Maryland law, a shareholder of a corporation does not have any preemptive rights to subscribe to any additional issue of stock unless
expressly provided for in the corporation’s charter (which the charter of the Acquiring Fund, does not provide). Under Maryland law, stockholders are entitled to demand the fair value of their shares from the successor entity in connection
with a reorganization except where any exceptions apply, which exceptions include if any shares of the class or series are listed on a national securities exchange, such as the common shares of MYI, on the Record Date. No exception exists for the
MYI VRDP Shares and therefore the VRDP Holders of MYI are entitled to demand the fair value of their VRDP Shares from the Acquiring Fund.

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U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE REORGANIZATIONS The following is a general summary of the U.S. federal income tax consequences of the Reorganizations to the U.S. holders of MVT, MIY or MVF common shares. The discussion is based upon the Code, Treasury regulations, court decisions, published positions of the IRS and other applicable authorities, all as in effect on the date hereof and all of which are subject to change or differing interpretations (possibly with retroactive effect). The discussion is limited to U.S. persons who hold common shares of MVT, MIY or MVF as capital