Company: MYI
Filing Date: 2025-08-08
Form Type: PRE 14A
Source: 0001193125-25-176952
Chunk: 13

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-08-08
Form: PRE 14A
Chunk 13
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 investment grade quality.                                                                                                                                                                                                                                                                                                              |     | MVF may invest up to 20% of its total assets in securities that are rated below investment grade at the time of purchase, or deemed equivalent. |     | Under normal market conditions, MYI expects to invest primarily in a portfolio of long-term Municipal Bonds that are commonly referred to as                                                                                                                                                                             
 “investment grade” securities, which are obligations rated at the time of purchase within the four highest-quality ratings as determined by either Moody’s (currently Aaa, Aa, A and Baa), S&P (currently AAA, AA, A and BBB) or Fitch                                                                                   
 (currently AAA, AA, A and BBB). In the case of short-term notes, the investment grade rating categories are SP-1+ through SP-2 for S&P, MIG-1 through MIG-3 for Moody’s and F-1+ through F-3 for Fitch. In the case of tax-exempt commercial paper, the investment grade rating categories are A-1+ through A-3 for S&P, 
 Prime-1 through Prime-3 for Moody’s and F-1+ through F-3 for Fitch.                                                                                                                                                                                                                                                      
 MYI may invest up to 20% of its managed assets in securities that are rated below                                                                                                                                                                                                                                        
 investment grade, or are considered by the MYI’s investment adviser to be of comparable quality, at the time of purchase.                                                                                                                                                                                                |

vi

Bond Maturity: Below is a comparison of each Fund’s policy with respect to bond maturity.

| MVT                                                                                                                                                                                                                         |     | MIY                                                                                                                                                                                                                  |     | MVF                                                                                                                                                                                                                  |     | Acquiring Fund (MYI)                                                                                                                                                                                                           |
| The average maturity of MVT’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. MVT’s portfolio at any given time may include long- term, 
 intermediate-term and short-term municipal bonds.                                                                                                                                                                           |     | The average maturity of MIY’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. MIY’s portfolio at any given time may include both 
 long-term, intermediate-term and short-term municipal bonds.                                                                                                                                                         |     | The average maturity of MVF’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. MVF’s portfolio at any given time may include both 
 long-term, intermediate-term and short