Company: MMU
Filing Date: 2025-07-30
Form Type: N-CSR
Source: 0001133228-25-007762
Chunk: 9

Company: WESTERN ASSET MANAGED MUNICIPALS FUND INC.
Filing Date: 2025-07-30
Form: N-CSR
Chunk 9
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 asset value and also assuming the reinvestment of all distributions, including returns of capital, if any, in additional shares in accordance with the Fund’s Dividend Reinvestment Plan through May 31, 2025. The hypothetical illustration also assumes a $10,000 investment in the Bloomberg Municipal Bond Index. The Bloomberg Municipal Bond Index
(the “ Index ” ) is a market value weighted index of investment grade municipal bonds with maturities of one year or more. The Index is unmanaged. Please note that an investor cannot invest directly in an index.

8 Western Asset Managed Municipals Fund Inc. 2025 Annual Report

Schedule of investments May 31, 2025 Western Asset Managed Municipals Fund Inc.

(Percentages shown based on Fund net assets)

| Security                                                                                                          |     | Rate   | MaturityDate | FaceAmount |           Value |
| Municipal Bonds — 145.4%                                                                                          |     |        |              |            |                 |
| Alabama — 3.5%                                                                                                    |     |        |              |            |                 |
| Black Belt Energy Gas District, AL, Gas ProjectRevenue Bonds:                                                     |     |        |              |            |                 |
| Project No 6, Series B                                                                                            |     | 4.000% | 12/1/26      |   $710,000 |  $708,584(a)(b) |
| Series D-1, Refunding                                                                                             |     | 5.500% | 2/1/29       |  1,050,000 | 1,099,487(a)(b) |
| Series F                                                                                                          |     | 5.500% | 12/1/28      |  2,250,000 | 2,346,437(a)(b) |
| Hoover, AL, IDA Revenue, United States SteelCorp. Project, Series 2019                                            |     | 5.750% | 10/1/49      |    900,000 |      903,214(c) |
| Jefferson County, AL, Sewer Revenue:                                                                              |     |        |              |            |                 |
| Warrants, Series 2024, Refunding                                                                                  |     | 5.250% | 10/1/45      |  1,500,000 |       1,534,086 |
| Warrants, Series 2024, Refunding                                                                                  |     | 5.250% |