Company: EMD
Filing Date: 2025-08-26
Form Type: N-CSRS
Source: 0001133228-25-008941
Chunk: 2

Company: WESTERN ASSET EMERGING MARKETS DEBT FUND INC.
Filing Date: 2025-08-26
Form: N-CSRS
Chunk 2
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President and Chief Executive Officer July 31, 2025

III Western Asset Emerging Markets Debt Fund Inc.

Performance review

For the six months ended June 30, 2025, Western Asset Emerging Markets Debt Fund Inc. returned 6.23% based on its net asset value (NAV) i and 10.34% based on its New York Stock Exchange (NYSE) market price per share. The Fund’s unmanaged benchmark, the JPMorgan Emerging Markets Bond Index Global Diversified ii , returned 5.64% 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 $0.54 per share. As of June 30, 2025, the Fund estimates that 68% of the distributions during the period were sourced from net investment income and 32% 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 June 30, 2025. Past performance is no guarantee of future results.

| Performance Snapshotas of June 30, 2025 (unaudited) |                       |
|:----------------------------------------------------|:----------------------|
| Price Per Share                                     | 6-MonthTotal Return** |
| $10.70 (NAV)                                        | 6.23%†                |
| $10.05 (Market Price)                               | 10.34%‡               |

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.