Company: MYI
Filing Date: 2025-09-05
Form Type: 424B3
Source: 0001193125-25-196285
Chunk: 17

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-05
Form: 424B3
Chunk 17
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 and Kristi Manidis, Director at BlackRock. Following the Reorganizations, it is expected that the Combined Fund will be managed by the same team of investment professionals. The investment objective, principal investment strategies and operating policies, and investment restrictions of the Combined Fund will be those of the Acquiring Fund, which are similar to those of MVT, MIY and MVF, although there are some differences as set out below. Investment Objective:

| MVT                                                                                                              |     | MIY                                                                                                                  |     | MVF                                                                                                              |     | Acquiring Fund (MYI)                                                                                               |
| MVT’s investment objective is to provide stockholders with as high a level of current income exempt from federal 
 income taxes as is consistent with its investment policies and prudent investment management.                    |     | MIY’s investment objective is to provide shareholders with as high a level of current income exempt from federal and 
 Michigan income taxes as is consistent with its investment policies and prudent investment management.               |     | MVF’s investment objective is to provide shareholders with as high a level of current income exempt from federal 
 income taxes as is consistent with its investment policies and prudent investment management.                    |     | The Acquiring Fund’s investment objective is to provide shareholders with as high a level of current income exempt 
 from federal income taxes as is consistent with its investment policies and prudent investment management.         |

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Municipal Bonds: Below is a comparison of each Fund’s 80% investment policy with respect to municipal obligations issued by or on behalf of states, territories and possessions of the United States and their political subdivisions, agencies or instrumentalities, each of which pays interest that, in the opinion of bond counsel to the issuer, is excludable from gross income for federal income tax purposes (except that the interest may be includable in taxable income for purposes of the federal alternative minimum tax) (“Municipal Bonds”) or investments the income from which is exempt from federal income tax (except that the interest may be subject to the federal alternative minimum tax).

| MVT                                                                                                                                                          |     | MIY                                                                                                                                                          |     | MVF                                                                                                                                                                                                                |     | Acquiring Fund (MYI)                                                                                                                                                          |
| MVT seeks to achieve its investment objective by investing at least 80% of an aggregate of MVT’s net assets                                                  
 (including proceeds from the issuance of any preferred stock) and the proceeds of any borrowings for investment purposes, in a portfolio of Municipal Bonds. |     | MIY seeks to achieve its