Franklin Templeton Announces Distributions for Certain Closed-End Funds for the Months of March, April and May 2026

Franklin Templeton announced today that certain closed-end funds have declared their distributions for the next three months.

This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund's distributions that have been declared by the Board of Directors/Trustees. If it is estimated that the source of a monthly distribution includes anything other than net investment income, each Fund will provide notice to shareholders containing the estimated sources of the distribution. These notices can be found on each Fund's website. In early 2027, after definitive information is available, each Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by each Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder's tax return (e.g., ordinary income, long-term capital gain or return of capital).

* EMO, which is taxed as a regular C-Corporation, pays ordinary income and/or return of capital and does not pay capital gain distributions. Distributions are considered ordinary income to the extent they are paid out of net investment income and realized capital gains.

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.

The Funds' common shares are traded on the New York Stock Exchange. Similar to stocks, Fund share price 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

Category: Distribution Related

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

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Investor Contact: Fund Investor Services 1-888-777-0102