Company: WIA
Filing Date: 2025-01-28
Form Type: N-CSR
Source: 0001133228-25-000566
Chunk: 71

Company: WESTERN ASSET INFLATION-LINKED INCOME FUND
Filing Date: 2025-01-28
Form: N-CSR
Chunk 71
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| c. | Western                                                          
 Asset votes for proposals authorizing share repurchase programs. |

Western Asset votes these issues on a case-by-case
basis on board-approved transactions.

Western Asset votes against board-approved proposals
to adopt anti-takeover measures except as follows:

| a. | Western                                                                                  
 Asset votes on a case-by-case basis on proposals to ratify or approve shareholder rights 
 plans.                                                                                   |

| b. | Western                                                                          
 Asset votes on a case-by-case basis on proposals to adopt fair price provisions. |

Western Asset votes for board-approved proposals approving such
routine business matters such as changing the company’s name, ratifying the appointment of auditors and procedural matters relating
to the shareholder meeting.

| a. | Western                                                                                  
 Asset votes on a case-by-case basis on proposals to amend a company’s charter or bylaws. |

| b. | Western                                                                                   
 Asset votes against authorization to transact other unidentified, substantive business at 
 the meeting.                                                                              |

Western Asset generally believes issuers should disclose information
that is material to their business. What qualifies as “material” can vary, so votes are cast on a case-by-case basis but
consistent with the overarching principle.

| II. | Shareholder 
 Proposals   |

SEC regulations permit shareholders to submit
proposals for inclusion in a company’s proxy statement. These proposals generally seek to change some aspect of a company’s
corporate governance structure or to change some aspect of its business operations. Western Asset votes in accordance with the recommendation
of the company’s board of directors on all shareholder proposals, except as follows:

Environmental or social issues that are the subject
of a proxy vote will be considered on a case-by-case basis. Constructive proposals that seek to advance the health of the issuer and
the prospect for risk-adjusted returns to Western Assets clients are viewed more favorably than proposals that advance a single issue
or limit the ability of management to meet its operating objectives.

| III. | Voting                         
 Shares of Investment Companies |

Western Asset may utilize shares of open or closed-end
investment companies to implement its investment strategies. Shareholder votes for investment companies that fall within the categories
listed in Parts I and II above are voted in accordance with those guidelines.

| IV. | Voting                    
 Shares of Foreign Issuers |

In the event Western Asset is required to vote
on securities held in non-U.S. issuers – i.e. issuers that are incorporated under the laws of a foreign jurisdiction and that are
not listed