Company: MMU
Filing Date: 2025-07-30
Form Type: N-CSR
Source: 0001133228-25-007762
Chunk: 24

Company: WESTERN ASSET MANAGED MUNICIPALS FUND INC.
Filing Date: 2025-07-30
Form: N-CSR
Chunk 24
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 specific discount levels or in any specific amounts. During the year ended May 31, 2025, the Fund repurchased and retired 0.06% of its common shares outstanding under the repurchase plan. The weighted average discount per share on these repurchases was 11.80% for the year ended May 31, 2025. During the year ended May 31, 2024, the Fund repurchased and retired 0.21% of its common shares outstanding under the repurchase plan. The weighted average discount per share on these repurchases was 12.13% for the year ended May 31, 2024. Shares repurchased and the

52 Western Asset Managed Municipals Fund Inc. 2025 Annual Report

corresponding dollar amount are included in the Statements of Changes in Net Assets. The anti-dilutive impact of these share repurchases is included in the Financial Highlights.

Since the commencement of the stock repurchase program through May 31, 2025, the Fund repurchased 148,996 shares or 0.27% of its common shares outstanding for a total amount of $1,523,240. 9. Transfer of net assets On October 13, 2023, the Fund acquired the assets and certain liabilities of Western Asset Municipal Partners Fund Inc. (the “Acquired Fund”), pursuant to a plan of reorganization approved by the Board of both the Acquired Fund and the Fund. Total shares issued by the Fund and the total net assets of the Acquired Fund and the Fund on the date of the transfer were as follows:

| Acquired Fund                              | Shares Issuedby the Fund | Total Net Assets of theAcquired Fund | Total Net Assetsof the Fund |
| Western Asset Municipal Partners Fund Inc. |               11,400,072 |                         $123,821,419 |                $471,041,213 |

As part of the reorganization, for each common share they held, shareholders of the Acquired Fund received 1.172960 common shares of the Fund. The Fund did not issue any fractional shares to shareholders of the Acquired Fund. In lieu thereof, the Fund purchased all fractional shares at the current net asset value of the shares and remitted the cash proceeds to former shareholders of the Acquired Fund in proportion to their fractional shares. The total net assets of the Acquired Fund before the acquisition included unrealized depreciation of $(8,619,540), accumulated net realized loss of $(8,527,