Company: BWG
Filing Date: 2025-06-25
Form Type: N-CSRS
Source: 0001133228-25-006673
Chunk: 2

Company: BrandywineGLOBAL-Global Income Opportunities Fund Inc
Filing Date: 2025-06-25
Form: N-CSRS
Chunk 2
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President and Chief Executive Officer May 30, 2025

III BrandywineGLOBAL — Global Income Opportunities Fund Inc.

Performance review

For the six months ended April 30, 2025, BrandywineGLOBAL — Global Income Opportunities Fund Inc. returned 2.48% based on its net asset value (NAV) i and 2.11% based on its New York Stock Exchange (NYSE) market price per share. The Fund’s unmanaged benchmark, the Bloomberg Global Aggregate Index ii , returned 3.74% for the same period. The Fund has adopted a managed distribution policy (the “Managed Distribution Policy”). Pursuant to this policy, the Fund intends to make regular monthly distributions to common shareholders at a fixed rate per common share, which rate may be adjusted from time to time by the Fund’s Board of Directors. This policy has no impact on the Fund’s investment strategy and may reduce the Fund’s NAV. The Fund’s manager believes the policy helps maintain the Fund’s competitiveness and may benefit the Fund’s market price and premium/discount to the Fund’s NAV. During the six-month period, the Fund made distributions to shareholders totaling $0.48 per share. As of April 30, 2025, the Fund estimates that 69% of the distributions were sourced from net investment income and 31% constituted a return of capital. * The performance table shows the Fund’s six-month total return based on its NAV and market price as of April 30, 2025. Past performance is no guarantee of future results.

| Performance Snapshotas of April 30, 2025 (unaudited) |                       |
|:-----------------------------------------------------|:----------------------|
| Price Per Share                                      | 6-MonthTotal Return** |
| $8.93 (NAV)                                          | 2.48%†                |
| $8.12 (Market Price)                                 | 2.11%‡                |

All figures represent past performance and are not a guarantee of future results. Performance figures for periods shorter than one year represent cumulative figures and are not annualized. ** Total returns are based on changes in NAV or market price, respectively. Returns reflect the deduction of all Fund expenses, including management fees, operating expenses, and other Fund expenses. Returns do not reflect the deduction of brokerage commissions or taxes that investors may pay on distributions or the sale of shares. † Total return assumes the reinvestment of all distributions, including returns of capital, if any, at NAV. ‡