Company: TXEMF
Filing Date: 2025-03-03
Form Type: N-CSR
Source: 0001133228-25-001853
Chunk: 137

Company: TEMPLETON EMERGING MARKETS INCOME FUND
Filing Date: 2025-03-03
Form: N-CSR
Chunk 137
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.S. registered investment company, a conducting officer in the case of a fund
that has appointed FTIS S.à.r.l as its Management Company, the Independent Review Committee for Canadian investment funds, or a
plan administrator in the case of an employee benefit plan. A quorum of the board of directors or trustees or of a committee of the board
can be reached by a majority of members, or a majority of non-recused members. The Proxy Group may determine to vote all shares held by
Advisory Clients of the Investment Managers and affiliated Investment Managers (other than Independent Affiliates) in accordance with
the instructions of one or more of the Advisory Clients.

The Investment Managers may also decide whether to vote
proxies for securities deemed to present conflicts of interest that are sold following a record date, but before a shareholder meeting
date. The Investment Managers may consider various factors in deciding whether to vote such proxies, including the Investment Managers’
long-term view of the issuer’s securities for investment, or it may defer the decision to vote to the applicable Advisory Client.
The Investment Managers also may be unable to vote, or choose not to vote, a proxy for securities deemed to present a conflict of interest
for any of the reasons outlined in the first paragraph of the section of these policies entitled “Proxy Procedures.”

Weight Given Management Recommendations

One of the primary factors the Investment Managers consider
when determining the desirability of investing in a particular company is the quality and depth of that company’s management. Accordingly,
the recommendation of management on any issue is a factor that the Investment Managers consider in determining how proxies should be voted.
However, the Investment Managers do not consider recommendations from management to be determinative of the Investment Managers’
ultimate decision. Each issue is considered on its own merits, and the Investment Managers will not support the position of a company’s
management in any situation where it determines that the ratification of management’s position would adversely affect the investment
merits of owning that company’s shares.

Engagement with Issuers

The Investment Managers believe that engagement with issuers
is important to good corporate governance and to assist in making proxy voting decisions. The Investment Managers may engage with issuers
to discuss specific ballot items to be voted on in advance of an annual or special meeting to obtain further information or clarification
on the proposals. The Investment Managers may also engage with management on a range of environmental, social or corporate governance
issues throughout the year.

THE PROXY GROUP

The Proxy Group is part of Franklin