Company: EMD
Filing Date: 2025-08-26
Form Type: N-CSRS
Source: 0001133228-25-008941
Chunk: 26

Company: WESTERN ASSET EMERGING MARKETS DEBT FUND INC.
Filing Date: 2025-08-26
Form: N-CSRS
Chunk 26
---
 overall financial market conditions. The Broadridge Performance Information comparing the Fund’s performance to that of its Performance Universe, consisting of the Fund and all leveraged closed-end emerging markets hard currency debt funds, regardless of asset size, showed, among other data, that based on net asset value per share, the Fund’s performance was equal to the median for the 1-year period ended December 31, 2024, was above the median for the 3- and 5-year periods ended December 31, 2024, and was below the median for the 10-year period ended December 31, 2024. The Board noted the explanations from the Manager and the Sub-Advisers regarding the Fund’s relative performance versus the Performance Universe for the various periods. The Board also noted the limited size of the Performance Universe. Based on the reviews and discussions of Fund performance and considering other relevant factors, including those noted above, the Board concluded, under the circumstances, that continuation of the Management Agreement and the Sub-Advisory Agreements for an additional one-year period would be consistent with the interests of the Fund and its stockholders.

Western Asset Emerging Markets Debt Fund Inc. 51

Board approval of management and subadvisory agreements (unaudited) (cont’d)

Management and Sub-Advisory Fees and Expense Ratios The Board reviewed and considered the contractual management fee (the “Contractual Management Fee”) and the actual management fee (the “Actual Management Fee”) payable by the Fund to the Manager under the Management Agreement and the sub-advisory fees (the “Sub-Advisory Fees”) payable by the Manager to the Sub-Advisers under the Sub-Advisory Agreements in view of the nature, extent and overall quality of the management, investment advisory and other services provided by the Manager and the Sub-Advisers, respectively. The Board noted that the Sub-Advisory Fee payable to Western Asset under its Sub-Advisory Agreement with the Manager is paid by the Manager, not the Fund, and, accordingly, that the retention of Western Asset does not increase the fees or expenses otherwise incurred by the Fund’s stockholders. Similarly, the Board noted that the Sub-Advisory Fees payable to Western Asset London and Western Asset Singapore under their respective Sub-Advisory Agreements with Western Asset are paid by Western Asset, not the Fund, and, accordingly, that the retention of Western Asset London and Western Asset Singapore does not increase the fees or expenses