Certain Closed-end Funds Advised by Franklin Templeton Fund Adviser, LLC Announce Retirement of Directors

The Board of each Fund announced the retirements of Daniel J. Cronin and Paolo M. Cucchi as Directors, and the number of Directors constituting the entire Board of the Funds will be decreased from ten to eight, effective December 31, 2024.

The Board of each Fund also announced that Hillary A. Sale will succeed Mr. Cronin as Chair of each Fund’s Nominating Committee and Peter Mason will succeed Mr. Cucchi as Chair of each Fund’s Compensation Committee effective January 1, 2025.

For more information about the Funds, please call 1-888-777-0102 or consult the Funds’ website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Funds’ complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Funds traded on the New York Stock Exchange.

Certain Fund shares are traded on the New York Stock Exchange. Similar to stocks, such Fund share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor’s risk of loss. All investments are subject to risk, including the risk of loss.

INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

About Franklin Templeton

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.6 trillion in assets under management as of October 31, 2024. For more information, please visit franklintempleton.com and follow us on LinkedIn, X and Facebook.

Category: Fund Announcement

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

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