Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 15

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 15
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 had taken place as of June 30, 2025 (iii) the Combined Fund’s estimated use of leverage, assuming the Reorganizations of all the Funds had taken place as of June 30, 2025.

| Ratios                       |     | MVT |        |     | MIY |        |     | MVF |        |     | Acquiring 
 Fund      
 (MYI)     |        |     | Pro forma 
 Combined  
 Fund      
 (MVT into 
 MYI)      |        |     | Pro forma     
 Combined Fund 
 (MVT, MIY and 
 MVF into MYI) |        |
| Asset Coverage Ratio         |     |     | 403.0% |     |     | 249.4% |     |     | 370.6% |     |           | 313.7% |     |           | 329.7% |     |               | 314.6% |
| Regulatory Leverage Ratio(1) |     |     | 24.8%  |     |     | 40.1%  |     |     | 27.0%  |     |           | 31.9%  |     |           | 30.3%  |     |               | 31.8%  |
| Effective Leverage Ratio(2)  |     |     | 40.3%  |     |     | 40.2%  |     |     | 40.8%  |     |           | 40.8%  |     |           | 40.7%  |     |               | 40.6%  |

| (1) | Regulatory leverage consists of preferred shares issued by the Fund, which is a part of the Fund’s                                                        
 capital structure. Regulatory leverage is sometimes referred to as “1940 Act Leverage” and is subject to asset coverage limits set forth in the 1940 Act. |

| (2) | Effective leverage is a Fund’s effective economic leverage and includes both regulatory leverage and                                                                                                                                
 the leverage effects of certain derivative investments in the Fund’s portfolio. Currently, the leverage effects of TOB inverse floater holdings, in addition to any regulatory leverage, are included in effective leverage ratios. |

| Q: | How will the Reorganizations be effected? |

A: Assuming a Reorganization receives the requisite shareholder approvals, as well as certain consents, confirmations and/or waivers from various third