Company: WIA
Filing Date: 2025-01-28
Form Type: N-CSR
Source: 0001133228-25-000566
Chunk: 33

Company: WESTERN ASSET INFLATION-LINKED INCOME FUND
Filing Date: 2025-01-28
Form: N-CSR
Chunk 33
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 FTFA are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. 3. Investments During the year ended November 30, 2024, the aggregate cost of purchases and proceeds from sales of investments (excluding short-term investments) and U.S. Government & Agency Obligations were as follows:

|           | Investments | U.S. Government &Agency Obligations |
| Purchases |  $5,762,458 |                         $35,908,322 |
| Sales     |   7,540,458 |                          74,900,072 |

At November 30, 2024, the aggregate cost of investments and the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were as follows:

|                                    | Cost/PremiumsPaid (Received) | GrossUnrealizedAppreciation | GrossUnrealizedDepreciation | NetUnrealizedAppreciation(Depreciation) |
| Securities                         |                 $344,406,239 |                  $1,049,305 |               $(23,987,335) |                           $(22,938,030) |
| Futures contracts                  |                            — |                      18,448 |                    -572,181 |                                -553,733 |
| Forward foreign currency contracts |                            — |                     149,644 |                    -201,687 |                                 -52,043 |
| Swap contracts                     |                      922,117 |                     218,067 |                           — |                                 218,067 |

Transactions in reverse repurchase agreements for the Fund during the year ended November 30, 2024, were as follows:

| Average DailyBalance* | Weighted AverageInterest Rate* | Maximum AmountOutstanding |
| $125,743,888          | 5.407%                         |              $141,074,010 |

| *Averages based on the number of days that the Fund had reverse repurchase agreements 
 outstanding.                                                                          |

Interest rates on reverse repurchase agreements ranged from 5.160% to 5.540% during the year ended November 30, 2024. Interest expense incurred on reverse repurchase agreements totaled $6,912,279.

42 Western Asset Inflation-Linked Income Fund 2024 Annual Report

4. Derivative instruments and hedging activities Below is a table, grouped by derivative type, that provides information about the fair value and the location of derivatives within the Consolidated Statement of Assets and Liabilities at November 30, 2024.

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