Company: EMD
Filing Date: 2025-02-27
Form Type: N-CSR
Source: 0001133228-25-001572
Chunk: 60

Company: WESTERN ASSET EMERGING MARKETS DEBT FUND INC.
Filing Date: 2025-02-27
Form: N-CSR
Chunk 60
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 and the role         
 the fund plays in the clients’ portfolios.                                                        |

| 2. | Western                                                                                      
 Asset votes on a case-by-case basis all proposals that would result in increases in expenses 
 (e.g., proposals to adopt 12b-1 plans, alter investment advisory arrangements or approve     
 fund mergers) taking into account comparable expenses for similar funds and the services     
 to be provided.                                                                              |

| IV. | Voting                    
 Shares of Foreign Issuers |

In the event Western Asset is required to vote
on securities held in non-U.S. issuers – i.e. issuers that are incorporated under the laws of a foreign jurisdiction and that are
not listed on a U.S. securities exchange or the NASDAQ stock market, the following guidelines are used, which are premised on the existence
of a sound corporate governance and disclosure framework. These guidelines, however, may not be appropriate under some circumstances
for foreign issuers and therefore apply only where applicable.

| 1. | Western                                                                                         
 Asset votes for shareholder proposals calling for a majority of the directors to be independent 
 of management.                                                                                  |

| 2. | Western                                                                                         
 Asset votes for shareholder proposals seeking to increase the independence of board nominating, 
 audit and compensation committees.                                                              |

| 3. | Western                                                                                           
 Asset votes for shareholder proposals that implement corporate governance standards similar       
 to those established under U.S. federal law and the listing requirements of U.S. stock exchanges, 
 and that do not otherwise violate the laws of the jurisdiction under which the company is         
 incorporated.                                                                                     |

| 4. | Western                                                                                       
 Asset votes on a case-by-case basis on proposals relating to (1) the issuance of common stock 
 in excess of 20% of a company’s outstanding common stock where shareholders do not            
 have preemptive rights, or (2) the issuance of common stock in excess of 100% of a company’s  
 outstanding common stock where shareholders have preemptive rights.                           |

| V. | Environmental,                        
 Social and Governance (“ESG”) Matters |

Western Asset incorporates ESG considerations,
among other relevant risks, as part of the overall process where appropriate. The Firm seeks to identify and consider material risks
to the investment thesis, including material risks presented by ESG factors. While Western Asset is primarily a fixed income manager,
opportunities to vote proxies are considered on the investment merits of the instruments and strategies involved.

As a general proposition, Western Asset votes
to encourage disclosure of information material to