Company: EMD
Filing Date: 2025-02-27
Form Type: N-CSR
Source: 0001133228-25-001572
Chunk: 54

Company: WESTERN ASSET EMERGING MARKETS DEBT FUND INC.
Filing Date: 2025-02-27
Form: N-CSR
Chunk 54
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 Labor has determined that the responsibility for these votes lies with the investment manager.

While the guidelines included in the procedures
are intended to provide a benchmark for voting standards, each vote is ultimately cast on a case-by-case basis, taking into consideration
the Firm’s contractual obligations to our clients and all other relevant facts and circumstances at the time of the vote (such
that these guidelines may be overridden to the extent the Firm deems appropriate).

In exercising its voting authority, Western Asset
will not consult or enter into agreements with officers, directors or employees of Franklin Resources (Franklin Resources includes Franklin
Resources, Inc. and organizations operating as Franklin Resources) or any of its affiliates (other than Western Asset affiliated companies)
regarding the voting of any securities owned by its clients.

PROCEDURES

Responsibility and Oversight

The Legal & Compliance Group is responsible
for administering and overseeing the proxy voting process. The gathering of proxies is coordinated through the Corporate Actions team
of the Investment Operations Group (“Corporate Actions”). Research analysts and portfolio managers are responsible for determining
appropriate voting positions on each proxy utilizing any applicable guidelines contained in these procedures.

Client Authority

The Investment Management Agreement for each client
is reviewed at account start-up for proxy voting instructions. If an agreement is silent on proxy voting, but contains an overall delegation
of discretionary authority or if the account represents assets of an ERISA plan, Western Asset will assume responsibility for proxy voting.
The Portfolio Compliance Group maintains a matrix of proxy voting authority.

Proxy Gathering

Registered owners of record, client custodians,
client banks and trustees (“Proxy Recipients”) that receive proxy materials on behalf of clients should forward them to Corporate
Actions. Proxy Recipients for new clients (or, if Western Asset becomes aware that the applicable Proxy Recipient for an existing client
has changed, the Proxy Recipient for the existing client) are notified at start-up of appropriate routing to Corporate Actions of proxy
materials received and reminded of their responsibility to forward all proxy materials on a timely basis. If Western Asset personnel
other than Corporate Actions receive proxy materials, they should promptly forward the materials to Corporate Actions.

Proxy Voting

Once proxy materials are received by Corporate
Actions, they are forwarded to the Portfolio Compliance Group for coordination and the following actions:

Proxies are reviewed to determine accounts
impacted.

Impacted accounts are checked to confirm
Western Asset voting authority.

Where appropriate, the Regulatory Affairs
Group reviews the issues presented to determine any material conflicts of interest. (See Conflicts of Interest section of these procedures