Company: EMD
Filing Date: 2025-02-27
Form Type: N-CSR
Source: 0001133228-25-001572
Chunk: 58

Company: WESTERN ASSET EMERGING MARKETS DEBT FUND INC.
Filing Date: 2025-02-27
Form: N-CSR
Chunk 58
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-case basis in contested elections of directors. |

| 2. | Matters                            
 relating to Executive Compensation |

Western Asset generally favors compensation programs that relate
executive compensation to a company’s long-term performance. Votes are cast on a case-by-case basis on board-approved proposals
relating to executive compensation, except as follows:

| • | Except                                                                                   
 where the firm is otherwise withholding votes for the entire board of directors, Western 
 Asset votes for stock option plans that will result in a minimal annual dilution.        |

| • | Western                                                                                   
 Asset votes against stock option plans or proposals that permit replacing or repricing of 
 underwater options.                                                                       |

| • | Western                                                                                       
 Asset votes against stock option plans that permit issuance of options with an exercise price 
 below the stock’s current market price.                                                       |

| • | Except                                                                                         
 where the firm is otherwise withholding votes for the entire board of directors, Western       
 Asset votes for employee stock purchase plans that limit the discount for shares purchased     
 under the plan to no more than 15% of their market value, have an offering period of 27 months 
 or less and result in dilution of 10% or less.                                                 |

| 3. | Matters                    
 relating to Capitalization |

The Management of a company’s capital structure involves
a number of important issues, including cash flows, financing needs and market conditions that are unique to the circumstances of each
company. As a result, Western Asset votes on a case-by-case basis on board-approved proposals involving changes to a company’s
capitalization except where Western Asset is otherwise withholding votes for the entire board of directors.

| a. | Western                                                                             
 Asset votes for proposals relating to the authorization of additional common stock. |

| b. | Western                                                                            
 Asset votes for proposals to effect stock splits (excluding reverse stock splits). |

| c. | Western                                                          
 Asset votes for proposals authorizing share repurchase programs. |

| 4. | Matters                                                                   
 relating to Acquisitions, Mergers, Reorganizations and Other Transactions |

Western Asset votes these issues on a case-by-case
basis on board-approved transactions.

| 5. | Matters                            
 relating to Anti-Takeover Measures |

Western Asset votes against board-approved proposals
to adopt anti-takeover measures except as follows:

| a. | Western                                                                                  
 Asset votes on a case-by-case basis on proposals to ratify or approve shareholder rights 
 plans.                                                                                   |

| b. | Western                                                                          
 Asset votes on a case-by-case basis on