# EDGAR Filing Document

**Accession Number:** 0000909112
**File Stem:** 0001133228-25-009055
**Filing Date:** 2025-8
**Character Count:** 223887
**Document Hash:** ed5a2dac78204efe0c457ca995a1cc36
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**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-25-009055.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001133228-25-009055

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**EFFECTIVENESS DATE**: 20250827

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TEMPLETON EMERGING MARKETS INCOME FUND
- **CENTRAL INDEX KEY:** 0000909112

**ORGANIZATION NAME:**
- **EIN:** 593192205
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07866
- **FILM NUMBER:** 251266379

**BUSINESS ADDRESS:**
- **STREET 1:** 300 S.E. 2ND STREET
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301-1923
- **BUSINESS PHONE:** 9545277500

**MAIL ADDRESS:**
- **STREET 1:** 300 S.E. 2ND STREET
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301-1923

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TEMPLETON EMERGING MARKETS INCOME FUND INC
- **DATE OF NAME CHANGE:** 19930825

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number **811-07866**

**Templeton Emerging Markets Income Fund**

(Exact name of registrant as specified in charter)

**300 S.E. 2nd Street, Fort Lauderdale, FL 33301-1923**

(Address of principal executive offices) (Zip code)

Alison Baur

Franklin Templeton

One Franklin Parkway,

San Mateo, CA 94403-1906

(Name and address of agent for service)

Registrant's telephone number, including area code: **(954) 527-7500**

Date of fiscal year end: **December 31**

Date of reporting period: **June 30, 2025**

ITEM 1. REPORT TO STOCKHOLDERS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Report to Shareholders is filed herewith

#### Semiannual

#### Report

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
June

30,

2025

#### Not

#### FDIC

#### Insured

#### No

#### Bank

#### Guarantee

#### May

#### Lose

#### Value
.

#### Managed

#### Distribution

#### Policy
:

The

Fund

has

implemented

a

managed

distribution

plan

whereby

the

Fund

will

distribute

a

level

distribution

amount

to

shareholders.

The

Fund

intends

to

make

monthly

distributions

to

shareholders

at

the

fixed

rate

of

$0.0475

per

share.

Management

will

generally

distribute

amounts

necessary

to

satisfy

the

Fund's

plan

and

the

requirements

prescribed

by

excise

tax

rules

and

Subchapter

M

of

the

Internal

Revenue

Code.

The

plan

is

intended

to

provide

shareholders

with

a

consistent

distribution

each

month

and

is

intended

to

narrow

the

discount

between

the

market

price

and

the

NAV

of

the

Fund's

common

shares,

but

there

is

no

assurance

that

the

plan

will

be

successful

in

doing

so.

Under

the

managed

distribution

plan,

to

the

extent

that

sufficient

investment

income

is

not

available

on

a

monthly

basis,

the

Fund

will

distribute

long-term

capital

gains

and/or

return

of

capital

in

order

to

maintain

its

managed

distribution

rate.

No

conclusions

should

be

drawn

about

the

Fund's

investment

performance

from

the

amount

of

the

Fund's

distributions

or

from

the

terms

of

the

Fund's

managed

distribution

plan.

The

Board

may

amend

the

terms

of

the

Plan

or

terminate

the

Plan

at

any

time

without

prior

notice

to

the

Fund's

shareholders,

however,

at

this

time

there

are

no

reasonably

foreseeable

circumstances

that

might

cause

the

termination

of

the

Plan.

The

amendment

or

termination

of

the

Plan

could

have

an

adverse

effect

on

the

market

price

of

the

Fund's

common

shares.

The

Plan

will

be

subject

to

the

periodic

review

by

the

Board,

including

a

yearly

review

of

the

annual

minimum

fixed

rate

to

determine

if

an

adjustment

should

be

made.

Shareholders

should

not

draw

any

conclusions

about

the

Fund's

investment

performance

from

the

amount

of

this

distribution

or

from

the

terms

of

the

Plan.

The

Fund

will

send

a

Form

1099-DIV

to

shareholders

for

the

calendar

year

that

will

describe

how

to

report

the

Fund's

distributions

for

federal

income

tax

purposes.

Please

see

the

"Important

Information

to

Shareholders"

section

for

additional

information.

franklintempleton.com

Semiannual

Report

Contents

Fund

Overview

Performance

Summary

Financial

Highlights

and

Schedule

of

Investments

Financial

Statements

Notes

to

Financial

Statements

Important

Information

to

Shareholders

Annual

Meeting

of

Shareholders

Dividend

Reinvestment

and

Cash

Purchase

Plan

Shareholder

Information

Visit

#### franklintempleton.com
for

fund

updates,

to

access

your

account,

or

to

find

helpful

financial

planning

tools.

franklintempleton.com

Semiannual

Report

Templeton

Emerging

Markets

Income

Fund

Dear

Shareholder,

This

semiannual

report

for

Templeton

Emerging

Markets

Income

Fund

covers

the

period

ended

June

30,

2025. Fund

Overview

Your

Fund's

Goal

and

Main

Investments

The

Fund

seeks

high,

current

income,

with

a

secondary

goal

of

capital

appreciation,

by

investing,

under

normal

market

conditions,

at

least

80%

of

its

net

assets

in

income-

producing

securities

of

sovereign

or

sovereign-related

entities

and

private

sector

companies

in

emerging

market

countries.

For

purposes

of

the

Fund's

80%

policy,

income-

producing

securities

of

entities

in

emerging

markets

include

derivative

instruments

or

other

investments

that

have

economic

characteristics

similar

to

such

securities.

We

invest

selectively

in

bonds

from

emerging

markets

around

the

world

to

generate

income

for

the

Fund,

seeking

opportunities

while

monitoring

changes

in

interest

rates,

currency

exchange

rates

and

credit

risk.

We

seek

to

manage

the

Fund's

exposure

to

various

currencies

and

may

use

currency

forward

contracts.

Performance

Overview

For

the

six

months

under

review,

the

Fund

posted

cumulative

total

returns

of

+23.07%

based

on

market

price

and

+18.08%

based

on

net

asset

value.

In

comparison,

U.S.

dollar-denominated

emerging

market

bonds,

as

measured

by

the

J.P.

Morgan

(JPM)

Emerging

Markets

Bond

Index

(EMBI)

Global

Index,

posted

a

+5.48%

cumulative

total

return

in

U.S.

dollar

terms

for

the

same

period.

You

can

find

the

Fund's

long-term

performance

data

in

the

Performance

Summary

on

.

The

Fund

has

implemented

a

managed

distribution

plan

whereby

the

Fund

will

distribute

a

level

distribution

amount

to

shareholders.

The

Fund

intends

to

make

monthly

distributions

to

shareholders

at

the

fixed

rate

of

$0.0475

per

share.

Management

will

generally

distribute

amounts

necessary

to

satisfy

the

Fund's

plan

and

the

requirements

prescribed

by

excise

tax

rules

and

Subchapter

M

of

the

Internal

Revenue

Code.

The

plan

is

intended

to

provide

shareholders

with

a

consistent

distribution

each

month

and

is

intended

to

narrow

the

discount

between

the

market

price

and

the

NAV

of

the

Fund's

common

shares,

but

there

is

no

assurance

that

the

plan

will

be

successful

in

doing

so.

The

Fund

sends

a

Form

1099-DIV

to

shareholders

each

calendar

year

describing

how

to

report

the

Fund's

distributions

for

federal

income

tax

purposes.

Please

see

"Important

Information

to

Shareholders"

section

for

additional

information.

*Performance* 

*data* 

*represent* 

*past* 

*performance,* 

*which* 

*does* 

*not* 

*guarantee* 

*future* 

*results.* 

*Investment* 

*return* 

*and* 

*principal* 

*value* 

*will* 

*fluctuate,* 

*and* 

*you* 

*may* 

*have* 

*a* 

*gain* 

*or* 

*loss* 

*when* 

*you* 

*sell* 

*your* 

*shares.* 

*Current* 

*performance* 

*may* 

*differ* 

*from* 

*figures* 

*shown.*

#### Portfolio

#### Composition
6/30/25

#### %

#### of

#### Total

#### Net

#### Assets
Foreign

Government

and

Agency

Securities

92.4%

Corporate

Bonds

7.8%

Common

Stocks

1.4%

Other

\*,†

0.0%

Short-Term

Investments

&

Other

Net

Assets

‡

-1.6%

\*

Rounds

to

less

than

0.1%.

†

Categories

within

the

Other

category

are

listed

in

full

in

the

Fund's

Schedule

of

Investments

(SOI),

which

can

be

found

later

in

this

report.

‡

Includes

foreign

government

and

agency

securities,

money

market

funds

and

other

net

assets

(including

derivatives).

#### Geographic

#### Composition
6/30/25

#### %

#### of

#### Total

#### Net

#### Assets
Middle

East

&

Africa

44.8%

Americas

32.5%

Asia

Pacific

15.6%

Other

Europe

4.5%

Supranational

4.2%

Short-Term

Investments

&

Other

Net

Assets

-1.6%

1. Source:

Morningstar.

The

index

is

unmanaged

and

includes

reinvestment

of

any

income

or

distributions.

It

does

not

reflect

any

fees,

expenses

or

sales

charges.

One

cannot

invest

directly

in

an

index,

and

an

index

is

not

representative

of

the

Fund's

portfolio.

Important

data

provider

notices

and

terms

available

at

www.franklintempletondatasources.com.

#### The

#### dollar

#### value,

#### number

#### of

#### shares

#### or

#### principal

#### amount,

#### and

#### names

#### of

#### all

#### portfolio

#### holdings

#### are

#### listed

#### in

#### the

#### Fund's

#### Schedule

#### of

#### Investments

#### (SOI).

#### The

#### SOI

#### begins

#### on

#### page

#### 7

#### .
Templeton

Emerging

Markets

Income

Fund

franklintempleton.com

Semiannual

Report

Thank

you

for

your

continued

participation

in

Templeton

Emerging

Markets

Income

Fund.

We

look

forward

to

serving

your

future

investment

needs.

Sincerely,

Michael

Hasenstab,

Ph.D.

Lead

Portfolio

Manager

Calvin

Ho,

Ph.D.

Portfolio

Manager

#### Top

#### 10

#### Countries\*
6/30/25

#### a

#### %

#### of

#### Total

#### Net

#### Assets

#### a
South

Africa

11.0%

Kazakhstan

7.4%

India

7.2%

Ecuador

6.4%

Mexico

5.2%

Ivory

Coast

5.1%

Rwanda

5.1%

Dominican

Republic

4.6%

United

Kingdom

4.4%

Benin

4.4%

\*

Does

not

include

cash

and

cash

equivalents.

Performance

Summary

as

of

June

30,

2025

Templeton

Emerging

Markets

Income

Fund

franklintempleton.com

Semiannual

Report

Total

return

reflects

reinvestment

of

the

Fund's

dividends

and

capital

gain

distributions,

if

any,

and

any

unrealized

gains

or

losses.

Total

returns

do

not

reflect

any

sales

charges

paid

at

inception

or

brokerage

commissions

paid

on

secondary

market

purchases.

The

performance

tables

do

not

reflect

any

taxes

that

a

shareholder

would

pay

on

Fund

dividends,

capital

gain

distributions,

if

any,

or

any

realized

gains

on

the

sale

of

Fund

shares.

Your

dividend

income

will

vary

depending

on

dividends

or

interest

paid

by

securities

in

the

Fund's

portfolio,

adjusted

for

operating

expenses.

Capital

gain

distributions

are

net

profits

realized

from

the

sale

of

portfolio

securities.

Performance

as

of

6/30/25

*Performance* 

*data* 

*represent* 

*past* 

*performance,* 

*which* 

*does* 

*not* 

*guarantee* 

*future* 

*results.* 

*Investment* 

*return* 

*and* 

*principal* 

*value* 

*will* 

*fluctuate,* 

*and* 

*you* 

*may* 

*have* 

*a* 

*gain* 

*or* 

*loss* 

*when* 

*you* 

*sell* 

*your* 

*shares.* 

*Current* 

*performance* 

*may* 

*differ* 

*from* 

*figures* 

*shown.*

Share

Prices

#### Cumulative

#### Total

#### Return

#### 2

#### Average

#### Annual

#### Total

#### Return

#### 2

#### Based

#### on

#### NAV

#### 3

#### Based

#### on

#### market

#### price

#### 4

#### Based

#### on

#### NAV

#### 3

#### Based

#### on

#### market

#### price

#### 4
6-Month

+18.08%

+23.07%

+18.08%

+23.07%

1-Year

+20.44%

+24.72%

+20.44%

+24.72%

5-Year

+12.82%

+27.82%

+2.44%

+5.03%

10-Year

+14.63%

+36.17%

+1.37%

+3.14%

#### Symbol:

#### TEI

#### 6/30/25

#### 12/31/24

#### Change
Net

Asset

Value

(NAV)

$6.36

$5.65

+$0.71

Market

Price

(NYSE)

$6.00

$5.13

+$0.87

Distributions

Per

Share

(1/1/25–6/30/25)

#### Net

#### Investment

#### Income
$0.2850

#### See

#### page

#### 5

#### for

#### Performance

#### Summary

#### footnotes.
Templeton

Emerging

Markets

Income

Fund

Performance

Summary

franklintempleton.com

Semiannual

Report

Events

such

as

the

spread

of

deadly

diseases,

disasters,

and

financial,

political

or

social

disruptions,

may

heighten

risks

and

adversely

affect

performance.

The

Fund

is

actively

managed

but

there

is

no

guarantee

that

the

manager's

investment

decisions

will

produce

the

desired

results.

#### All

#### investments

#### involve

#### risks,

#### including

#### possible

#### loss

#### of

#### principal.

#### Fixed

#### income

#### securities
involve

interest

rate,

credit,

inflation

and

reinvestment

risks,

and

possible

loss

of

principal.

As

interest

rates

rise,

the

value

of

fixed

income

securities

falls.

#### International

#### investments
are

subject

to

special

risks,

including

currency

fluctuations

and

social,

economic

and

political

uncertainties,

which

could

increase

volatility.

These

risks

are

magnified

in

#### emerging

#### markets.

#### Liquidity

#### risk
exists

when

securities

or

other

investments

become

more

difficult

to

sell,

or

are

unable

to

be

sold,

at

the

price

at

which

they

have

been

valued.

#### Derivative

#### instruments
can

be

illiquid,

may

disproportionate-

ly

increase

losses,

and

have

a

potentially

large

impact

on

performance.

The

manager

may

consider

#### environmental,

#### social

#### and

#### governance
(ESG)

#### criteria
in

the

research

or

investment

process;

however,

ESG

considerations

may

not

be

a

determinative

factor

in

security

selection.

In

addition,

the

manager

may

not

assess

every

investment

for

ESG

criteria,

and

not

every

ESG

factor

may

be

identified

or

evaluated.

The

Fund

may

invest

in

China

Interbank

bonds

traded

on

the

China

Interbank

Bond

Market

("CIBM")

through

the

China

–

Hong

Kong

Bond

Connect

program

("Bond

Con-

nect").

In

China,

the

Hong

Kong

Monetary

Authority

Central

Money

Markets

Unit

holds

Bond

Connect

securities

on

behalf

of

ultimate

investors

(such

as

the

Fund)

in

accounts

maintained

with

a

China-based

custodian

(either

the

China

Central

Depository

&

Clearing

Co.

or

the

Shanghai

Clearing

House).

This

recordkeeping

system

subjects

the

Fund

to

various

risks,

including

the

risk

that

the

Fund

may

have

a

limited

ability

to

enforce

rights

as

a

bondholder

and

the

risks

of

settlement

delays

and

counterparty

default

of

the

Hong

Kong

sub-custodian.

In

addition,

enforcing

the

ownership

rights

of

a

beneficial

holder

of

Bond

Connect

securities

is

untested

and

courts

in

China

have

limited

experi-

ence

in

applying

the

concept

of

beneficial

ownership.

Bond

Connect

uses

the

trading

infrastructure

of

both

Hong

Kong

and

China

and

is

not

available

on

trading

holidays

in

Hong

Kong.

As

a

result,

prices

of

securities

purchased

through

Bond

Connect

may

fluctuate

at

times

when

a

Fund

is

unable

to

add

to

or

exit

its

position.

Securities

offered

through

Bond

Connect

may

lose

their

eligibility

for

trading

through

the

program

at

any

time.

If

Bond

Connect

securities

lose

their

eligibility

for

trading

through

the

program,

they

may

be

sold

but

can

no

longer

be

purchased

through

Bond

Connect.

Bond

Connect

is

subject

to

regulation

by

both

Hong

Kong

and

China

and

there

can

be

no

assurance

that

further

regulations

will

not

affect

the

availability

of

securities

in

the

program,

the

frequency

of

redemptions

or

other

limitations.

Bond

Connect

trades

are

settled

in

Chinese

currency,

the

renminbi

("RMB").

It

cannot

be

guaranteed

that

inves-

tors

will

have

timely

access

to

a

reliable

supply

of

RMB

in

Hong

Kong.

Bond

Connect

is

relatively

new

and

its

effects

on

the

Chinese

interbank

bond

market

are

uncertain.

In

addition,

the

trading,

settlement

and

IT

systems

required

for

non-Chinese

investors

in

Bond

Connect

are

relatively

new.

In

the

event

of

systems

malfunctions,

trading

via

Bond

Connect

could

be

disrupted.

In

addition,

the

Bond

Connect

program

may

be

subject

to

further

interpretation

and

guidance.

There

can

be

no

assurance

as

to

the

program's

continued

existence

or

whether

future

developments

regarding

the

program

may

restrict

or

adversely

affect

the

Fund's

investments

or

returns.

Finally,

uncertainties

in

China

tax

rules

governing

taxation

of

income

and

gains

from

investments

via

Bond

Connect

could

result

in

unexpected

tax

liabilities

for

a

Fund.

The

application

and

interpretation

of

the

laws

and

regulations

of

Hong

Kong

and

China,

and

the

rules,

policies

or

guidelines

published

or

applied

by

relevant

regulators

and

exchanges

in

respect

of

the

Bond

Connect

program,

are

uncertain,

and

may

have

a

detrimental

effect

on

the

Fund's

investments

and

returns.

1. Gross

expenses

are

the

Fund's

total

annual

operating

expenses

as

of

the

Fund's

annual

report

available

at

the

time

of

publication.

Actual

expenses

may

be

higher

and

may

impact

portfolio

returns.

Net

expenses

reflect

voluntary

fee

waivers,

expense

caps

and/or

reimbursements.

Voluntary

waivers

may

be

modified

or

discontinued

at

any

time

without

notice.

2. Total

return

calculations

represent

the

cumulative

and

average

annual

changes

in

value

of

an

investment

over

the

periods

indicated.

Return

for

less

than

one

year,

if

any,

has

not

been

annualized.

3. Assumes

reinvestment

of

distributions

based

on

net

asset

value.

4. Assumes

reinvestment

of

distributions

based

on

the

dividend

reinvestment

and

cash

purchase

plan.

Important

data

provider

notices

and

terms

available

at

www.franklintempletondatasources.com.

Templeton

Emerging

Markets

Income

Fund

Financial

Highlights

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025
(unaudited)

#### Year

#### Ended

#### December

#### 31,

#### 2024

#### 2023

#### 2022

#### 2021

#### 2020

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

period)

Net

asset

value,

beginning

of

period

.....

$5.65

$5.90

$5.72

$7.58

$8.92

$9.95

Income

from

investment

operations:

Net

investment

income

a

.............

0.33 0.63 0.43 0.45 0.55 0.38 Net

realized

and

unrealized

gains

(losses)

0.67 (0.31)

0.32 (1.67)

(1.13)

(0.84)

Total

from

investment

operations

........

1.00 0.32 0.75 (1.22)

(0.58)

(0.46)

Less

distributions

from:

Net

investment

income

..............

(0.29)

(0.55)

(0.28)

—

—

(0.37)

Tax

return

of

capital

................

—

(0.02)

(0.29)

(0.65)

(0.76)

(0.20)

Total

distributions

...................

(0.29)

(0.57)

(0.57)

(0.65)

(0.76)

(0.57)

Repurchase

of

shares

................

—

—

—

b

0.01 —

—

Net

asset

value,

end

of

period

..........

$6.36

$5.65

$5.90

$5.72

$7.58

$8.92

Market

value,

end

of

period

c

...........

$6.00

$5.13

$5.10

$5.49

$7.29

$7.77

Total

return

(based

on

net

asset

value

per

share)

d

...........................

18.08%

5.35%

13.95%

(16.19)%

(6.78)%

(6.14)%

Total

return

(based

on

market

value

per

share)

d

...........................

23.07%

11.72%

3.82%

(15.55)%

3.59%

(9.08)%

#### Ratios

#### to

#### average

#### net

#### assets

#### e
Expenses

before

waiver

and

payments

by

affiliates

..........................

2.46%

2.37%

2.32%

1.40%

1.23%

1.17%

Expenses

net

of

waiver

and

payments

by

affiliates

..........................

2.44%

2.36%

2.30%

1.38%

1.22%

1.14%

Net

investment

income

...............

11.26%

10.58%

7.65%

7.11%

6.68%

4.22%

#### Supplemental

#### data
Net

assets

,

end

of

period

(000's)

........

$300,254

$266,959

$278,680

$272,330

$363,759

$428,098

Portfolio

turnover

rate

................

15.30%

53.84%

48.95%

35.83%

70.97%

56.68%

Total

credit

facility

outstanding

at

end

of

period

(000's)

......................

$65,000

$65,000

$50,000

$36,000

$36,000

$—

Asset

coverage

per

$1,000

of

debt

......

$5,619

$5,107

$6,574

$8,565

$11,133

$—

a

Based

on

average

daily

shares

outstanding.

b

Amount

rounds

to

less

than

$0.01

per

share.

c

Based

on

the

last

sale

on

the

New

York

Stock

Exchange.

d

The

Market

Value

Total

Return

is

calculated

assuming

a

purchase

of

common

shares

on

the

opening

of

the

first

business

day

and

a

sale

on

the

closing

of

the

last

business

day

of

each

period.

Dividends

and

distributions

are

assumed

for

the

purposes

of

this

calculation

to

be

reinvested

at

prices

obtained

under

the

Fund's

Dividend

Reinvestment

and

Cash

Purchase

Plan.

Net

Asset

Value

Total

Return

is

calculated

on

the

same

basis,

except

that

the

Fund's

net

asset

value

is

used

on

the

purchase,

sale

and

dividend

reinvestment

dates

instead

of

market

value.

Total

return

does

not

reflect

brokerage

commissions

or

sales

charges

in

connection

with

the

purchase

or

sale

of

Fund

shares.

Total

return

is

not

annualized

for

periods

less

than

one

year.

e

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited),

June

30,

2025

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Industry

#### Shares
a

#### Value
a

#### Common

#### Stocks

#### 1.4%

#### South

#### Africa

#### 1.4%
a,b,c

K2016470219

South

Africa

Ltd.,

A

....

Broadline

Retail

93,760,463

$

—

a,b,c

K2016470219

South

Africa

Ltd.,

B

....

Broadline

Retail

161,018,517

—

b

Platinum

Group

Metals

Ltd.,

(CAD

Traded)

......................

Metals

&

Mining

2,359,882

3,587,263

b

Platinum

Group

Metals

Ltd.,

(USD

Traded)

......................

Metals

&

Mining

469,750

718,718

b,d

Platinum

Group

Metals

Ltd.,

(USD

Traded),

144A

.................

Metals

&

Mining

48,837

74,237

4,380,218

#### Total

#### Common

#### Stocks

#### (Cost

#### $5,513,828)

#### .......................................

#### 4,380,218

#### Principal

#### Amount

#### \*
a

#### a
a

#### Corporate

#### Bonds

#### 7.8%

#### Bermuda

#### 0.0%

#### †
a,e

Digicel

Group

Holdings

Ltd.

,

29.109%,

11/17/33

..............

Wireless

Telecommunication

Services

582,116

18,421

26.68%,

11/17/33

...............

Wireless

Telecommunication

Services

187,133

22,938

41,359

#### Costa

#### Rica

#### 3.3%
a,d

Reventazon

Finance

Trust

,

Senior

Secured

Bond

,

144A,

%

,

11/15/33

.

Financial

Services

9,722,880

10,027,307

#### South

#### Africa

#### 0.0%
a,d,f

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note,

144A,

3%,

12/31/22

.....................

Broadline

Retail

8,125,247

—

Senior

Secured

Note,

144A,

8%,

12/31/22

.....................

Broadline

Retail

2,886,099

EUR

—

a,d,f

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

%

,

12/31/22

.

Broadline

Retail

61,769,102

—

—

#### United

#### Kingdom

#### 4.5%
a,d

ICBC

Standard

Bank

plc

,

144A,

%

,

4/15/26

......................

Banks

163,630,000,000

UZS

13,347,831

#### Total

#### Corporate

#### Bonds

#### (Cost

#### $57,287,438)

#### ......................................

#### 23,416,497
a

a

#### Industry

#### Principal

#### Amount

#### \*
a

#### Value

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### 92.4%

#### Argentina

#### 4.0%
Argentina

Government

Bond

,

Senior

Bond,

4.125%,

7/09/35

.....

16,852,222

11,378,932

Senior

Note,

0.75%,

7/09/30

......

851,642

681,314

12,060,246

#### Benin

#### 4.4%
d

Benin

Government

Bond

,

Senior

Bond,

144A,

4.875%,

1/19/32

5,340,000

EUR

5,743,001

Senior

Bond,

144A,

4.95%,

1/22/35

.

1,410,000

EUR

1,422,251

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Industry

#### Principal

#### Amount

#### \*
a

#### Value
a

a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities
(continued)

#### Benin
(continued)

d

Benin

Government

Bond,

(continued)

Senior

Bond,

144A,

6.875%,

1/19/52

6,220,000

EUR

$

6,125,641

13,290,893

#### Brazil

#### 2.2%
Brazil

Notas

do

Tesouro

Nacional,

10%,

1/01/33

......................

42,460,000

BRL

6,568,960

#### Colombia

#### 0.9%
Colombia

Titulos

de

Tesoreria

,

B,

7.25%,

10/18/34

.............

4,572,000,000

COP

819,433

B,

6.25%,

7/09/36

..............

1,386,000,000

COP

219,654

B,

9.25%,

5/28/42

..............

8,661,000,000

COP

1,629,575

2,668,662

#### Dominican

#### Republic

#### 4.6%
d

Dominican

Republic

Government

Bond,

Senior

Bond,

Reg

S,

6.85%,

1/27/45

14,000,000

13,884,500

#### Ecuador

#### 6.4%
d

Ecuador

Government

Bond,

Senior

Bond,

144A,

5.5%,

7/31/35

........

26,563,500

19,344,608

#### Egypt

#### 2.5%
Egypt

Government

Bond

,

25.151%,

4/16/27

...............

213,900,000

EGP

4,362,598

d

Senior

Bond,

144A,

8.75%,

9/30/51

.

2,960,000

2,432,805

d

Senior

Bond,

144A,

7.5%,

2/16/61

..

1,130,000

824,048

7,619,451

#### El

#### Salvador

#### 0.2%
d

El

Salvador

Government

Bond,

Senior

Bond,

144A,

7.65%,

6/15/35

.......

655,000

635,350

#### Gabon

#### 3.4%
d

Gabon

Government

Bond

,

Senior

Bond,

144A,

6.625%,

2/06/31

6,860,000

5,477,207

Senior

Bond,

144A,

7%,

11/24/31

...

5,960,000

4,753,120

10,230,327

#### Ghana

#### 1.7%
g

Ghana

Government

Bond

,

PIK,

8.35%,

2/16/27

.............

6,360,904

GHS

520,240

PIK,

8.5%,

2/15/28

..............

9,435,227

GHS

695,914

PIK,

8.65%,

2/13/29

.............

7,558,361

GHS

516,118

PIK,

8.8%,

2/12/30

..............

11,623,570

GHS

746,538

PIK,

8.95%,

2/11/31

.............

847,570

GHS

51,243

PIK,

9.1%,

2/10/32

..............

11,813,728

GHS

682,477

PIK,

9.25%,

2/08/33

.............

10,228,190

GHS

569,098

PIK,

9.4%,

2/07/34

..............

6,258,990

GHS

334,619

PIK,

9.55%,

2/06/35

.............

4,198,451

GHS

219,596

PIK,

9.7%,

2/05/36

..............

5,593,904

GHS

288,100

PIK,

9.85%,

2/03/37

.............

3,174,265

GHS

161,858

PIK,

10%,

2/02/38

..............

4,601,003

GHS

233,301

5,019,102

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Industry

#### Principal

#### Amount

#### \*
a

#### Value
a

a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities
(continued)

#### India

#### 7.2%
India

Government

Bond

,

7.26%,

1/14/29

................

703,400,000

INR

$

8,567,115

Senior

Bond,

7.18%,

8/14/33

......

717,500,000

INR

8,764,410

Senior

Bond,

7.1%,

4/08/34

.......

104,340,000

INR

1,271,133

Senior

Bond,

6.79%,

10/07/34

.....

250,300,000

INR

3,008,083

21,610,741

#### Ivory

#### Coast

#### 5.1%
d

Ivory

Coast

Government

Bond

,

Senior

Bond,

144A,

5.25%,

3/22/30

.

2,500,000

EUR

2,821,835

Senior

Bond,

144A,

5.875%,

10/17/31

4,000,000

EUR

4,465,826

Senior

Bond,

144A,

6.875%,

10/17/40

7,058,000

EUR

7,087,037

Senior

Bond,

144A,

6.625%,

3/22/48

1,140,000

EUR

1,049,565

15,424,263

#### Kazakhstan

#### 7.4%
Kazakhstan

MEOKAM

,

10.67%,

1/21/26

................

123,900,000

KZT

231,298

15.35%,

11/18/27

...............

21,000,000

KZT

39,158

Kazakhstan

MEUKAM

,

9%,

7/03/27

...................

283,500,000

KZT

475,050

10.4%,

4/12/28

................

738,400,000

KZT

1,233,517

15.3%,

3/03/29

................

1,819,600,000

KZT

3,426,296

11%,

3/31/29

..................

274,670,000

KZT

458,127

10.55%,

7/28/29

................

3,078,400,000

KZT

5,039,720

11%,

2/04/30

..................

706,110,000

KZT

1,163,729

12%,

3/07/30

..................

1,963,150,000

KZT

3,358,370

12%,

2/22/31

..................

1,034,880,000

KZT

1,766,092

10.3%,

3/17/31

................

570,900,000

KZT

909,650

14%,

5/12/31

..................

582,100,000

KZT

1,077,680

Senior

Bond,

5.49%,

3/27/27

......

706,000,000

KZT

1,135,051

Senior

Bond,

5%,

4/18/28

........

552,330,000

KZT

804,228

Senior

Bond,

5.5%,

9/20/28

.......

301,700,000

KZT

432,696

Senior

Bond,

7.68%,

8/13/29

......

438,100,000

KZT

648,372

22,199,034

#### Kenya

#### 4.1%
d

Kenya

Government

Bond,

Senior

Note,

144A,

9.75%,

2/16/31

............

11,980,000

12,179,612

#### Mexico

#### 5.2%
Petroleos

Mexicanos

,

d

Senior

Bond,

Reg

S,

4.875%,

2/21/28

3,550,000

EUR

4,091,382

d

Senior

Bond,

Reg

S,

4.75%,

2/26/29

1,910,000

EUR

2,154,461

Senior

Note,

6.84%,

1/23/30

......

9,790,000

9,464,184

15,710,027

#### Nigeria

#### 1.7%
d

Nigeria

Government

Bond,

Senior

Bond,

144A,

10.375%,

12/09/34

.........

4,790,000

5,049,989

#### Panama

#### 3.5%
Panama

Government

Bond

,

Senior

Bond,

6.4%,

2/14/35

.......

920,000

897,952

Senior

Bond,

6.7%,

1/26/36

.......

4,030,000

4,017,454

Senior

Bond,

6.875%,

1/31/36

.....

1,770,000

1,764,255

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Industry

#### Principal

#### Amount

#### \*
a

#### Value
a

a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities
(continued)

#### Panama
(continued)

Panama

Government

Bond,

(continued)

Senior

Bond,

8%,

3/01/38

........

3,440,000

$

3,694,809

10,374,470

#### Rwanda

#### 5.1%
d

Rwanda

Government

Bond,

Senior

Bond,

144A,

5.5%,

8/09/31

........

17,814,000

15,233,531

#### Seychelles

#### 0.4%
d

Seychelles

International

Bond,

Senior

Bond,

Reg

S,

8%,

1/01/26

........

1,310,340

1,320,764

#### South

#### Africa

#### 9.6%
South

Africa

Government

Bond

,

Senior

Bond,

8.875%,

2/28/35

.....

160,020,000

ZAR

8,462,250

Senior

Bond,

8.5%,

1/31/37

.......

126,509,000

ZAR

6,229,506

Senior

Bond,

9%,

1/31/40

........

198,900,000

ZAR

9,728,334

Senior

Bond,

8.75%,

1/31/44

......

93,274,700

ZAR

4,286,281

28,706,371

#### Supranational

#### 4.2%
h

Asian

Development

Bank,

Senior

Note,

10.1%,

1/23/26

................

48,270,000,000

COP

11,826,903

h

International

Bank

for

Reconstruction

&

Development,

Senior

Note,

6.89%,

2/06/30

......................

75,500,000

INR

890,914

12,717,817

#### Uganda

#### 2.9%
Uganda

Government

Bond

,

14.25%,

8/23/29

................

229,000,000

UGX

60,539

16%,

11/14/30

.................

2,987,000,000

UGX

823,637

17%,

4/03/31

..................

248,000,000

UGX

70,931

14.375%,

2/03/33

...............

8,797,000,000

UGX

2,228,573

16%,

5/14/37

..................

21,232,000,000

UGX

5,643,131

8,826,811

#### Uruguay

#### 2.2%
i

Uruguay

Government

Bond,

Index

Linked,

Senior

Bond,

3.7%,

6/26/37

.

247,143,741

UYU

6,449,233

#### Uzbekistan

#### 1.0%
d

Uzbekistan

Government

Bond,

Senior

Note,

144A,

16.25%,

10/12/26

.....

34,790,000,000

UZS

2,841,944

#### Zambia

#### 2.5%
Zambia

Government

Bond,

14%,

11/23/27

.....................

182,000,000

ZMW

7,352,894

#### Total

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### (Cost

#### $269,438,897)
............

#### 277,319,600
Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

a

a

#### Industry

#### Shares
a

#### Value
a

a

#### a
a

#### Escrows

#### and

#### Litigation

#### Trusts

#### 0.0%

#### †
a,b

K2016470219

South

Africa

Ltd.,

Escrow

Account

......................

1,140,749

$

16,988

#### Total

#### Escrows

#### and

#### Litigation

#### Trusts

#### (Cost

#### $–)

#### ...................................

#### 16,988

#### Total

#### Long

#### Term

#### Investments

#### (Cost

#### $332,240,163)

#### ...............................

#### 305,133,303

#### Short

#### Term

#### Investments

#### 10.1%
a

#### a

#### Industry

#### Principal

#### Amount

#### \*
a

#### Value
a

a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### 6.3%

#### Egypt

#### 6.3%
e

Egypt

Treasury

Bills

,

27.41%,

9/09/25

................

366,375,000

EGP

7,007,819

27.49%,

9/23/25

................

48,975,000

EGP

927,214

27.16%,

12/16/25

...............

118,650,000

EGP

2,121,631

26.44%,

3/10/26

................

202,575,000

EGP

3,444,207

26.3%,

3/24/26

................

159,950,000

EGP

2,698,462

25.75%,

6/30/26

................

164,225,000

EGP

2,659,071

18,858,404

#### Total

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### (Cost

#### $18,678,783)

#### ..............

#### 18,858,404

#### Shares

#### Money

#### Market

#### Funds

#### 3.8%

#### United

#### States

#### 3.8%
j,k

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.332%

.........

11,320,288

11,320,288

#### Total

#### Money

#### Market

#### Funds

#### (Cost

#### $11,320,288)

#### ..................................

#### 11,320,288
a

#### a
a

a

#### Total

#### Short

#### Term

#### Investments

#### (Cost

#### $29,999,071

####)
................................

#### 30,178,692
a

#### a

#### Total

#### Investments

#### (Cost

#### $362,239,234)

#### 111.7%

#### ..................................

#### $335,311,995

#### l

#### Credit

#### Facility

#### (21.6)%

#### ........................................................

#### (65,000,000)

#### Other

#### Assets,

#### less

#### Liabilities

#### 9.9%

#### .............................................

#### 29,942,500

#### Net

#### Assets

#### 100.0%

#### ...........................................................

#### $300,254,495

#### a
\*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Fair

valued

using

significant

unobservable

inputs.

See

Note

regarding

fair

value

measurements.

b

Non-income

producing.

c

See

Note

regarding

restricted

securities.

d

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933. 144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933. Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

June

30,

2025,

the

aggregate

value

of

these

securities

was

$142,387,852,

representing

47.4%

of

net

assets.

e

The

rate

shown

represents

the

yield

at

period

end.

f

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

See

Note

6. g

Income

may

be

received

in

additional

securities

and/or

cash.

h

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

i

Principal

amount

of

security,

redemption

price

at

maturity,

and/or

coupon

payments

are

adjusted

for

inflation.

See

Note

1(f).

j

See

Note

3(c)

regarding

investments

in

affiliated

management

investment

companies.

k

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

l

See

Note

regarding

credit

facility.

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

At

June

30,

2025,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

(c).

#### Forward

#### Exchange

#### Contracts

#### Currency

#### Counter-

#### party

#### a

#### Type

#### Quantity

#### Contract

#### Amount

#### \*

#### Settlement

#### Date

#### Unrealized

#### Appreciation

#### Unrealized

#### Depreciation

#### a

#### OTC

#### Forward

#### Exchange

#### Contracts
Brazilian

Real

......

BAST

Buy

37,955,000

6,484,487

7/02/25

$

501,396

$

—

Brazilian

Real

......

BAST

Sell

37,955,000

6,938,123

7/02/25

—

(47,760)

Columbian

Peso

....

GSCO

Buy

31,120,000,000

7,088,677

7/15/25

513,721

—

Columbian

Peso

....

JPHQ

Buy

20,699,500,000

4,711,928

7/15/25

344,815

—

Columbian

Peso

....

MSCO

Buy

45,760,000,000

10,418,943

7/15/25

759,904

—

Euro

.............

BNDP

Sell

9,205,000

9,481,978

7/15/25

—

(1,370,910)

Euro

.............

BOFA

Buy

7,061,000

7,470,609

7/15/25

854,459

—

Euro

.............

BOFA

Sell

8,288,151

8,544,462

7/15/25

—

(1,227,442)

Euro

.............

BZWS

Sell

9,693,849

10,031,777

7/16/25

—

(1,398,330)

Euro

.............

JPHQ

Sell

9,693,000

10,021,011

7/16/25

—

(1,408,095)

Chilean

Peso

......

HSBK

Buy

1,845,200,000

1,837,172

7/23/25

143,472

—

Brazilian

Real

......

JPHQ

Buy

90,506,000

15,594,535

8/04/25

922,883

—

Brazilian

Real

......

MSCO

Buy

44,800,000

7,719,081

8/04/25

456,955

—

Malaysian

Ringgit

...

GSCO

Buy

51,620,000

11,835,378

8/04/25

427,363

—

Chinese

Yuan

......

DBAB

Sell

61,870,417

8,645,467

8/18/25

—

(30,698)

Chinese

Yuan

......

CITI

Sell

34,143,565

4,733,549

8/21/25

—

(55,553)

Chinese

Yuan

......

DBAB

Sell

34,117,665

4,729,631

8/21/25

—

(55,839)

Chinese

Yuan

......

JPHQ

Sell

27,143,099

3,763,185

8/21/25

—

(44,007)

Mexican

Peso

......

BNDP

Buy

43,984,366

2,251,049

8/27/25

78,812

—

Mexican

Peso

......

HSBK

Buy

92,120,757

4,716,281

8/27/25

163,374

—

Brazilian

Real

......

BAST

Buy

37,955,000

6,832,214

9/03/25

43,313

—

Chilean

Peso

......

JPHQ

Buy

2,227,600,000

2,376,816

9/08/25

14,004

—

Mexican

Peso

......

BNDP

Buy

15,984,356

823,851

9/10/25

21,577

—

Mexican

Peso

......

HSBK

Buy

325,103,150

16,751,850

9/10/25

443,169

—

Malaysian

Ringgit

...

GSCO

Buy

43,100,000

9,795,455

9/15/25

460,349

—

Indian

Rupee

......

CITI

Buy

244,617,460

2,846,540

9/17/25

—

(2,839)

Indian

Rupee

......

HSBK

Buy

1,271,976,200

14,805,571

9/17/25

—

(18,724)

South

Korean

Won

..

DBAB

Buy

17,292,000,000

11,981,292

9/17/25

861,061

—

South

Korean

Won

..

HSBK

Buy

526,000,000

364,316

9/17/25

26,331

—

Chinese

Yuan

......

HSBK

Sell

21,896,000

3,076,102

9/29/25

—

(5,313)

Chinese

Yuan

......

MSCO

Sell

23,644,000

3,322,000

9/29/25

—

(5,410)

Uruguayan

Peso

....

HSBK

Buy

565,240,000

13,060,677

10/21/25

932,707

—

Chilean

Peso

......

HSBK

Buy

1,499,500,000

1,600,286

10/27/25

8,677

—

Chilean

Peso

......

JPHQ

Buy

1,695,700,000

1,809,152

10/27/25

10,334

—

Chinese

Yuan

......

CITI

Sell

33,974,210

4,778,370

11/17/25

—

(19,343)

Chinese

Yuan

......

HSBK

Sell

57,325,773

8,082,932

12/17/25

—

(29,399)

Indian

Rupee

......

HSBK

Buy

356,808,577

4,098,892

12/22/25

27,647

—

Uzbekistan

Sum

....

DBAB

Buy

20,900,000,000

1,488,816

1/27/26

76,406

—

Total

Forward

Exchange

Contracts

...................................................

$8,092,729

$(5,719,662)

Net

unrealized

appreciation

(depreciation)

............................................

$2,373,067

\*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Templeton

Emerging

Markets

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

At

June

30,

2025,

the

Fund

had

the

following

interest

rate

swap

contracts

outstanding.

See

Note

(c).

See

Abbreviations

on

.

See

Note

regarding

other

derivative

information.

#### Interest

#### Rate

#### Swap

#### Contracts

#### Description

#### Payment

#### Frequency

#### Maturity

#### Date

#### Notional

#### Amount

#### \*

#### Value

#### Upfront

#### Payments
(Receipts)

#### Unrealized

#### Appreciation
(Depreciation)

aa

#### aa

#### Centrally

#### Cleared

#### Swap

#### Contracts
Receive

Fixed

11.3%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/04/27

55,159,032

BRL

$

(510,496)

$

—

$

(510,496)

Receive

Fixed

8.208%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/04/27

900,000

BRL

(45,638)

—

(45,638)

Receive

Fixed

8.675%

.

Quarterly

Pay

Floating

1-day

IBR

Quarterly

9/25/28

130,500,000,000

COP

191,712

—

191,712

Receive

Fixed

8.69%

..

Monthly

Pay

Floating

1-day

TIIEOIS

..........

Monthly

12/05/28

450,000,000

MXN

835,045

—

835,045

Receive

Fixed

11.342%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

44,361,792

BRL

(532,152)

—

(532,152)

Receive

Fixed

8.388%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

1,443,981

BRL

(94,131)

—

(94,131)

Receive

Fixed

8.423%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

2,006,000

BRL

(129,540)

—

(129,540)

Receive

Fixed

8.468%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

1,795,371

BRL

(114,778)

—

(114,778)

Receive

Fixed

8.503%

.

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/02/29

955,784

BRL

(60,641)

—

(60,641)

Receive

Fixed

13.583%

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/03/33

15,010,484

BRL

132,910

—

132,910

Receive

Fixed

13.6%

..

At

Maturity

Pay

Floating

1-day

BRL

CDI

..............

At

Maturity

1/03/33

9,936,151

BRL

91,002

—

91,002

Total

Interest

Rate

Swap

Contracts

.................................

$(236,707)

$

—

$(236,707)

\*

In

U.S.

dollars

unless

otherwise

indicated.

Templeton

Emerging

Markets

Income

Fund

Financial

Statements

Statement

of

Assets

and

Liabilities

June

30,

2025

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
Assets:

Investments

in

securities:

Cost

-

Unaffiliated

issuers

...................................................................

$350,918,946

Cost

-

Non-controlled

affiliates

(Note

c)

........................................................

11,320,288

Value

-

Unaffiliated

issuers

..................................................................

$323,991,707

Value

-

Non-controlled

affiliates

(Note

c)

.......................................................

11,320,288

Cash

....................................................................................

34,776

Restricted

cash

for

OTC

derivative

contracts

(Note

d)

...............................................

2,750,000

Foreign

currency,

at

value

(cost

$

15,765,609)

......................................................

15,915,159

Receivables:

Investment

securities

sold

...................................................................

70,277

Interest

.................................................................................

9,768,956

Deposits

with

brokers

for:

OTC

derivative

contracts

..................................................................

2,700,000

Centrally

cleared

swap

contracts

............................................................

2,124,904

Variation

margin

on

centrally

cleared

swap

contracts

...............................................

179,941

Unrealized

appreciation

on

OTC

forward

exchange

contracts

..........................................

8,092,729

Total

assets

..........................................................................

376,948,737

Liabilities:

Payables:

Investment

securities

purchased

..............................................................

2,655,639

Credit

facility

(Note

10)

.....................................................................

65,000,000

Management

fees

.........................................................................

238,160

Trustees'

fees

and

expenses

.................................................................

1,912

Deposits

from

brokers

for:

OTC

derivative

contracts

..................................................................

2,750,000

Unrealized

depreciation

on

OTC

forward

exchange

contracts

..........................................

5,719,662

Deferred

taxes

on

unrealized

appreciation

........................................................

164,803

Accrued

expenses

and

other

liabilities

...........................................................

164,066

Total

liabilities

.........................................................................

76,694,242

Net

assets,

at

value

.................................................................

$300,254,495

Net

assets

consist

of:

Paid-in

capital

.............................................................................

$501,000,473

Total

distributable

earnings

(losses)

.............................................................

(200,745,978)

Net

assets,

at

value

.................................................................

$300,254,495

Shares

outstanding

.........................................................................

47,228,418

Net

asset

value

per

share

a

....................................................................

$6.36

a

Net

asset

value

per

share

may

not

recalculate

due

to

rounding.

Templeton

Emerging

Markets

Income

Fund

Financial

Statements

Statement

of

Operations

for

the

six

months

ended

June

30,

2025

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
Investment

income:

Dividends:

Non-controlled

affiliates

(Note

c)

.............................................................

$217,089

Interest:

(net

of

foreign

taxes

of

$464,334)

Unaffiliated

issuers

........................................................................

18,630,322

Total

investment

income

...................................................................

18,847,411

Expenses:

Management

fees

(Note

a)

...................................................................

1,375,166

Transfer

agent

fees

.........................................................................

38,417

Custodian

fees

............................................................................

37,995

Reports

to

shareholders

fees

..................................................................

70,323

Registration

and

filing

fees

....................................................................

12,887

Professional

fees

...........................................................................

69,889

Trustees'

fees

and

expenses

..................................................................

18,978

Interest

expense

(Note

10)

...................................................................

1,741,980

Other

....................................................................................

12,299

Total

expenses

.........................................................................

3,377,934

Expenses

waived/paid

by

affiliates

(Note

c)

...................................................

(18,570)

Net

expenses

.........................................................................

3,359,364

Net

investment

income

................................................................

15,488,047

Realized

and

unrealized

gains

(losses):

Net

realized

gain

(loss)

from:

Investments:

(net

of

foreign

taxes

of

$1,281,277)

Unaffiliated

issuers

......................................................................

(2,671,111)

Foreign

currency

transactions

................................................................

(323,729)

Forward

exchange

contracts

.................................................................

1,352,842

Swap

contracts

...........................................................................

(708,508)

Net

realized

gain

(loss)

..................................................................

(2,350,506)

Net

change

in

unrealized

appreciation

(depreciation)

on:

Investments:

Unaffiliated

issuers

......................................................................

20,346,880

Translation

of

other

assets

and

liabilities

denominated

in

foreign

currencies

..............................

436,303

Forward

exchange

contracts

.................................................................

8,638,494

Swap

contracts

...........................................................................

3,533,481

Change

in

deferred

taxes

on

unrealized

appreciation

...............................................

663,261

Net

change

in

unrealized

appreciation

(depreciation)

............................................

33,618,419

Net

realized

and

unrealized

gain

(loss)

............................................................

31,267,913

Net

increase

(decrease)

in

net

assets

resulting

from

operations

..........................................

$46,755,960

Templeton

Emerging

Markets

Income

Fund

Financial

Statements

Statements

of

Changes

in

Net

Assets

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund

#### Six

#### Months

#### Ended

#### June

#### 30,

#### 2025
(unaudited)

#### Year

#### Ended

#### December

#### 31,

#### 2024
Increase

(decrease)

in

net

assets:

Operations:

Net

investment

income

.................................................

$15,488,047

$29,837,241

Net

realized

gain

(loss)

.................................................

(2,350,506)

(14,385,162)

Net

change

in

unrealized

appreciation

(depreciation)

...........................

33,618,419

(252,753)

Net

increase

(decrease)

in

net

assets

resulting

from

operations

................

46,755,960

15,199,326

Distributions

to

shareholders

..............................................

(13,460,099)

(25,912,043)

Distributions

to

shareholders

from

tax

return

of

capital

...........................

—

(1,008,155)

Total

distributions

to

shareholders

..........................................

(13,460,099)

(26,920,198)

Net

increase

(decrease)

in

net

assets

...................................

33,295,861

(11,720,872)

Net

assets:

Beginning

of

period

.....................................................

266,958,634

278,679,506

End

of

period

..........................................................

$300,254,495

$266,958,634

Templeton

Emerging

Markets

Income

Fund

Financial

Statements

Statement

of

Cash

Flows

for

the

six

months

ended

June

30,

2025

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
Cash

flow

from

operating

activities:

Dividends,

interest

and

other

income

received

.....................................................

$

13,212,288

Operating

expenses

paid

.....................................................................

(1,735,663)

Interest

expense

paid

........................................................................

(1,741,980)

Deposits

from

brokers

for

derivative

contracts

......................................................

5,866,275

Realized

loss

on

foreign

currency

transactions

.....................................................

(323,729)

Receipts

on

settlement

of

derivative

activitie

s

......................................................

4,177,815

Purchases

of

long-term

investments

.............................................................

(43,005,200)

Sales

and

maturities

of

long-term

investments

.....................................................

42,284,620

Net

sales

of

short-term

investments

.............................................................

13,407,318

Cash

provided

-

operating

activities

..........................................................

32,141,744

Cash

flow

from

financing

activities:

Cash

distributions

to

shareholders

..............................................................

(13,460,099)

Cash

used

-

financing

activities

.............................................................

(13,460,099)

Net

increase

(decrease)

in

cash

.................................................................

18,681,645

Cash

and

foreign

currency

at

beginning

of

period

....................................................

18,290

Cash,

restricted

cash

and

foreign

currency

at

end

of

period

.............................................

$18,699,935

#### Reconciliation

#### of

#### Net

#### Increase
(Decrease)

#### in

#### Net

#### Assets

#### resulting

#### from

#### Operating

#### Activities

#### to

#### Net

#### Cash

#### Provided

#### by

#### Operating

#### Activities
for

the

six

months

ended

June

30,

2025

(unaudited)

Net

increase

(decrease)

in

net

assets

resulting

from

operating

activities

....................................

$

46,755,960

Adjustments

to

reconcile

net

increase

(decrease)

in

net

assets

resulting

from

operating

activities

to

net

cash

provided

by

operating

activities:

Net

amortization

income

..................................................................

(5,738,426)

Reinvested

dividends

from

non-controlled

affiliates

...............................................

(217,089)

Increase

in

dividends

and

interest

receivable

and

other

assets

......................................

(115,911)

Increase

in

deposits

from

brokers

............................................................

5,866,275

Decrease

in

payable

to

affiliates,

accrued

expenses,

and

other

liabilities

...............................

(118,279)

Increase

in

payable

for

investments

purchased

.................................................

2,655,639

Increase

in

receivable

for

investments

sold

.....................................................

(70,277)

Decrease

in

cost

of

investments

.............................................................

12,772,487

Decrease

in

unrealized

depreciation

on

investments.

.............................................

(21,010,141)

Decrease

in

unrealized

depreciation

on

forward

exchange

contracts

..................................

(8,638,494)

Net

cash

provided

by

operating

activities

...........................................................

$32,141,744

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
Templeton

Emerging

Markets

Income

Fund

(Fund)

is

registered under

the

Investment

Company

Act

of

1940

(1940

Act)

as

a

closed-end

management

investment

company.

The

Fund

follows

the

accounting

and

reporting

guidance

in

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and

applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946. The

following

summarizes

the

Fund

's

significant

accounting

policies.

a. #### Financial

#### Instrument

#### Valuation
The

Fund's

investments

in

financial

instruments

are

carried

at

fair

value

daily.

Fair

value

is

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

on

the

measurement

date.

The

Fund

calculates

the

net

asset

value

(NAV)

per

share

each business

day as

of

p.m.

Eastern

time

or

the

regularly

scheduled

close

of

the

New

York

Stock

Exchange

(NYSE),

whichever

is

earlier.

Under

compliance

policies

and

procedures

approved

by

the Fund's

Board

of

Trustees

(the

Board),

the

Board

has

designated

the

Fund's

investment

manager

as

the

valuation

designee

and

has

responsibility

for

oversight

of

valuation.

The

investment

manager

is

assisted

by

the

Fund's

administrator

in

performing

this

responsibility,

including

leading

the

cross-

functional

Valuation

Committee

(VC).

The

Fund

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value.

Equity

securities

listed

on

an

exchange

or

on

the

NASDAQ

National

Market

System

are

valued

at

the

last

quoted

sale

price

or

the

official

closing

price of

the

day,

respectively.

Foreign

equity

securities

are

valued

as

of

the

close

of

trading

on

the

foreign

stock

exchange

on

which

the

security

is

primarily

traded,

or

as

of

p.m.

Eastern

time.

The

value

is

then

converted

into

its

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

p.m.

Eastern

time

on

the

day

that

the

value

of

the

security

is

determined.

Over-the-counter

(OTC)

securities

are

valued

within

the

range

of

the

most

recent

quoted

bid

and

ask

prices.

Securities

that

trade

in

multiple

markets

or

on

multiple

exchanges

are

valued

according

to

the

broadest

and

most

representative

market.

Certain

equity

securities

are

valued

based

upon

fundamental

characteristics

or

relationships

to

similar

securities.

Debt

securities

generally

trade

in

the OTC

market

rather

than

on

a

securities

exchange.

The

Fund's

pricing

services

use

multiple

valuation

techniques

to

determine

fair

value.

In

instances

where

sufficient

market

activity

exists,

the

pricing

services

may

utilize

a

market-based

approach

through

which

quotes

from

market

makers

are

used

to

determine

fair

value.

In

instances

where

sufficient

market

activity

may

not

exist

or

is

limited,

the

pricing

services

also

utilize

proprietary

valuation

models

which

may

consider

market

characteristics

such

as

benchmark

yield

curves,

credit

spreads,

estimated

default

rates,

anticipated

market

interest

rate

volatility,

coupon

rates,

anticipated

timing

of

principal

repayments,

underlying

collateral,

and

other

unique

security

features

in

order

to

estimate

the

relevant

cash

flows,

which

are

then

discounted

to

calculate

the

fair

value.

Securities

denominated

in

a

foreign

currency

are

converted

into

their

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

p.m.

Eastern

time

on

the

date

that

the

values

of

the

foreign

debt

securities

are

determined.

Investments

in open-end mutual

funds

are

valued

at

the

closing

NAV.

Certain

derivative

financial

instruments

are

centrally

cleared

or

trade

in

the

OTC

market.

The

Fund's

pricing

services

use

various

techniques

including

industry

standard

option

pricing

models

and

proprietary

discounted

cash

flow

models

to

determine

the

fair

value

of

those

instruments.

The

Fund's

net

benefit

or

obligation

under

the

derivative

contract,

as

measured

by

the

fair

value

of

the

contract,

is

included

in

net

assets.

The

Fund

has

procedures

to

determine

the

fair

value

of

financial

instruments

for

which

market

prices

are

not

reliable

or

readily

available.

Under

these

procedures,

the Fund

primarily

employs

a

market-based

approach

which

may

use

related

or

comparable

assets

or

liabilities,

recent

transactions,

market

multiples,

and

other

relevant

information

for

the

investment

to

determine

the

fair

value

of

the

investment.

An

income-based

valuation

approach

may

also

be

used

in

which

the

anticipated

future

cash

flows

of

the

investment

are

discounted

to

calculate

fair

value.

Discounts

may

also

be

applied

due

to

the

nature

or

duration

of

any

restrictions

on

the

disposition

of

the

investments.

Due

to

the

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

inherent

uncertainty

of

valuations

of

such

investments,

the

fair

values

may

differ

significantly

from

the

values

that

would

have

been

used

had

an

active

market

existed.

Trading

in

securities

on

foreign

securities

stock

exchanges

and

OTC

markets

may

be

completed

before

p.m.

Eastern

time.

In

addition,

trading

in

certain

foreign

markets

may

not

take

place

on

every

Fund's

business

day. Events

can occur

between

the

time

at

which

trading

in

a

foreign

security

is

completed

and

p.m.

Eastern

time

that

might

call

into

question

the

reliability

of

the

value

of

a

portfolio

security

held

by

the

Fund.

As

a

result,

differences

may

arise

between

the

value

of

the

Fund's

portfolio

securities

as

determined

at

the

foreign

market

close

and

the

latest

indications

of

value

at

p.m.

Eastern

time. In

order

to

minimize

the

potential

for

these

differences,

an

independent

pricing

service

may

be

used

to

adjust

the

value

of

the

Fund's

portfolio

securities

to

the

latest

indications

of

fair

value

at

p.m.

Eastern

time.

When

the

last

day

of

the

reporting

period

is

a

non-business

day,

certain

foreign

markets

may

be

open

on

those

days

that

the

Fund's

NAV

is

not

calculated,

which

could

result

in

differences

between

the

value

of

the

Fund's

portfolio

securities

on

the

last

business

day

and

the

last

calendar

day

of

the

reporting

period.

Any

security

valuation

changes

due

to

an

open

foreign

market

are

adjusted

and

reflected

by

the

Fund

for

financial

reporting

purposes.

b. #### Foreign

#### Currency

#### Translation
Portfolio

securities

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

based

on

the

exchange

rate

of

such

currencies

against

U.S.

dollars

on

the

date

of

valuation.

The

Fund

may

enter

into

foreign

currency

exchange

contracts

to

facilitate

transactions

denominated

in

a

foreign

currency.

Purchases

and

sales

of

securities,

income

and

expense

items

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

in

effect

on

the

transaction

date.

Portfolio

securities

and

assets

and

liabilities

denominated

in

foreign

currencies

contain

risks

that

those

currencies

will

decline

in

value

relative

to

the

U.S.

dollar.

Occasionally,

events

may

impact

the

availability

or

reliability

of

foreign

exchange

rates

used

to

convert

the

U.S.

dollar

equivalent

value.

If

such

an

event

occurs,

the

foreign

exchange

rate

will

be

valued

at

fair

value

using

procedures

established

and

approved

by

the

Board.

The

Fund

does

not

separately

report

the

effect

of

changes

in

foreign

exchange

rates

from

changes

in

market

prices

on

securities

held.

Such

changes

are

included

in

net

realized

and

unrealized

gain

or

loss

from

investments

in

the

Statement of

Operations.

Realized

foreign

exchange

gains

or

losses

arise

from

sales

of

foreign

currencies,

currency

gains

or

losses

realized

between

the

trade

and

settlement

dates

on

securities

transactions

and

the

difference

between

the

recorded

amounts

of

dividends,

interest,

and

foreign

withholding

taxes

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

foreign

exchange

rates

on

foreign

denominated

assets

and

liabilities

other

than

investments

in

securities

held

at

the

end

of

the

reporting

period.

c. #### Derivative

#### Financial

#### Instruments
The

Fund invested

in

derivative

financial

instruments

in

order

to

manage

risk

or

gain

exposure

to

various

other

investments

or

markets.

Derivatives

are

financial

contracts

based

on

an

underlying

or

notional

amount,

require

no

initial

investment

or

an

initial

net

investment

that

is

smaller

than

would

normally

be

required

to

have

a

similar

response

to

changes

in

market

factors,

and

require

or

permit

net

settlement.

Derivatives

contain

various

risks

including

the

potential

inability

of

the

counterparty

to

fulfill

their

obligations

under

the

terms

of

the

contract,

the

potential

for

an

illiquid

secondary

market,

and/or

the

potential

for

market

movements

which

expose

the

Fund

to

gains

or

losses

in

excess

of

the

amounts

shown

in

the

Statement

of

Assets

and

Liabilities.

Realized

gain

and

loss

and

unrealized

appreciation

and

depreciation

on

these

contracts

for

the

period

are

included

in

the

Statement

of

Operations.

Derivative

counterparty

credit

risk

is

managed

through

a

formal

evaluation

of

the

creditworthiness

of

all

potential

counterparties.

The

Fund

attempts

to

reduce

its

exposure

to

counterparty

credit

risk

on

OTC

derivatives,

whenever

possible,

by

entering

into

International

Swaps

and

Derivatives

Association

(ISDA)

master

agreements

with

certain

counterparties.

These

agreements

contain

various

provisions,

including

but

not

limited

to

collateral

requirements,

events

of

default,

or

early

termination.

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

a. #### Financial

#### Instrument

#### Valuation
(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Termination

events

applicable

to

the

counterparty

include

certain

deteriorations

in

the

credit

quality

of

the

counterparty.

Termination

events

applicable

to

the

Fund

include

failure

of

the

Fund

to

maintain

certain

net

asset

levels

and/or

limit

the

decline

in

net

assets

over

various

periods

of

time.

In

the

event

of

default

or

early

termination,

the

ISDA

master

agreement

gives

the

non-defaulting

party

the

right

to

net

and

close-out

all

transactions

traded,

whether

or

not

arising

under

the

ISDA

agreement,

to

one

net

amount

payable

by

one

counterparty

to

the

other.

However,

absent

an

event

of

default

or

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

in

the

Statement

of

Assets

and

Liabilities.

Early

termination

by

the

counterparty

may

result

in

an

immediate

payment

by

the

Fund

of

any

net

liability

owed

to

that

counterparty

under

the

ISDA

agreement.

Collateral

requirements

differ

by

type

of

derivative.

Collateral

or

initial

margin

requirements

are

set

by

the

broker

or

exchange

clearing

house

for

exchange

traded

and

centrally

cleared

derivatives.

Initial

margin

deposited

is

held

at

the

exchange

and

can

be

in

the

form

of

cash

and/or

securities.

For

OTC

derivatives

traded

under

an

ISDA

master

agreement,

posting

of

collateral

is

required

by

either

the

Fund

or

the

applicable

counterparty

if

the

total

net

exposure

of

all

OTC

derivatives

with

the

applicable

counterparty

exceeds

the

minimum

transfer

amount,

which

typically

ranges

from

$100,000

to

$250,000,

and

can

vary

depending

on

the

counterparty

and

the

type

of agreement.

Generally,

collateral

is

determined

at

the

close

of

Fund

business

each

day

and

any

additional

collateral

required

due

to

changes

in

derivative

values

may

be

delivered

by

the

Fund

or

the

counterparty

the

next

business

day,

or

within

a

few

business

days.

Collateral

pledged

and/or

received

by

the

Fund

for

OTC

derivatives,

if

any,

is

held

in

segregated

accounts

with

the

Fund's

custodian/counterparty

broker

and

can

be

in

the

form

of

cash

and/or

securities.

Unrestricted

cash

may

be

invested

according

to

the

Fund's

investment

objectives.

To

the

extent

that

the

amounts

due

to

the

Fund

from

its

counterparties

are

not

subject

to

collateralization

or

are

not

fully

collateralized,

the

Fund

bears

the

risk

of

loss

from

counterparty

non-performance.

The

Fund entered

into

OTC

forward

exchange

contracts

primarily

to

manage

and/or

gain exposure

to

certain

foreign

currencies.

A

forward

exchange

contract

is

an

agreement

between

the

Fund

and

a

counterparty

to

buy

or

sell

a

foreign

currency at

a

specific

exchange

rate

on

a

future

date.

Forward

exchange

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

The

Fund entered

into

interest

rate

swap

contracts

primarily

to

manage

interest

rate

risk.

An

interest

rate

swap

is

an

agreement

between

the

Fund

and

a

counterparty

to

exchange

cash

flows

based

on

the

difference

between

two

interest

rates,

applied

to

a

notional

amount.

These

agreements

may

be

privately

negotiated

in

the

over-the-

counter

market

(OTC

interest

rate

swaps)

or

may

be

executed

on

a

registered

exchange

(centrally

cleared

interest

rate

swaps).

For

centrally

cleared

interest

rate

swaps,

required

initial

margins

are

pledged

by

the

Fund,

and

the

daily

change

in

fair

value

is

accounted

for

as

a

variation

margin

payable

or

receivable

in

the

Statement

of

Assets

and

Liabilities.

Over

the

term

of

the

contract,

contractually

required

payments

to

be

paid

and

to

be

received

are

accrued

daily

and

recorded

as

unrealized

appreciation

or

depreciation

until

the

payments

are

made,

at

which

time

they

are

realized.

Interest

rate

swap

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

See

Note

9 regarding

other

derivative

information.

d. #### Restricted

#### Cash
At

June

30,

2025, the

Fund

held

restricted

cash

in

connection

with

investments

in

certain

derivative

securities.

Restricted

cash

is

held

in

a

segregated

account

with

the

Fund's

custodian

and/or

counterparty

broker

and

is

reflected

in

the

Statement

of

Assets

and

Liabilities.

e. #### Income

#### and

#### Deferred

#### Taxes
It

is the Fund's

policy

to

qualify

as

a

regulated

investment

company

under

the

Internal

Revenue

Code. The Fund

intends

to

distribute

to

shareholders

substantially

all

of

its

taxable

income

and

net

realized

gains

to

relieve

it

from

federal

income

and if

applicable,

excise

taxes.

As

a

result,

no

provision

for

U.S.

federal

income

taxes

is

required.

The Fund

may

be

subject

to

foreign

taxation

related

to

income

received,

capital

gains

on

the

sale

of

securities

and

certain

foreign

currency

transactions

in

the

foreign

jurisdictions

in

which

it

invests.

Foreign

taxes,

if

any,

are

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

c. #### Derivative

#### Financial

#### Instruments
(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

recorded

based

on

the

tax

regulations

and

rates

that

exist

in

the

foreign

markets

in

which

the

Fund

invests.

When

a

capital

gain

tax

is

determined

to

apply,

the

Fund

records

an

estimated

deferred

tax

liability

in

an

amount

that

would

be

payable

if

the

securities

were

disposed

of

on

the

valuation

date.

The Fund

may

recognize

an

income

tax

liability

related

to

its

uncertain

tax

positions

under

U.S.

GAAP

when

the

uncertain

tax

position

has

a

less

than

50%

probability

that

it

will

be

sustained

upon

examination

by

the

tax

authorities

based

on

its

technical

merits.

As

of

June

30,

2025, the Fund

has

determined

that

no

tax

liability

is

required

in

its

financial

statements

related

to

uncertain

tax

positions

for

any

open

tax

years

(or

expected

to

be

taken

in

future

tax

years).

Open

tax

years

are

those

that

remain

subject

to

examination

and

are

based

on

the

statute

of

limitations

in

each

jurisdiction

in

which

the Fund

invests.

f. #### Security

#### Transactions,

#### Investment

#### Income,

#### Expenses

#### and

#### Distributions
Security

transactions

are

accounted

for

on

trade

date.

Realized

gains

and

losses

on

security

transactions

are

determined

on

a

specific

identification

basis.

Interest

income

(including

interest

income

from

payment-in-kind

securities,

if

any)

and

estimated

expenses

are

accrued

daily.

Amortization

of

premium

and

accretion

of

discount

on

debt

securities

are

included

in

interest

income.

Paydown

gains

and

losses

are

recorded

as

an

adjustment

to

interest

income.

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

Fund

employs

a

managed

distribution

policy

whereby

the

Fund

will

distribute

a

level

distribution

amount

to

shareholders.

The

Fund

intends

to

distribute

$0.0475

per

share

monthly.

The

Fund's

distribution

level

may

be

changed

by

the

Board

in

the

future.

Under

the

policy,

the

Fund

is

managed

with

a

goal

of

generating

as

much

of

the

distribution

as

possible

from

net

investment

income

and

short-term

capital

gains.

The

balance

of

the

distribution

will

then

come

from

long-term

capital

gains

to

the

extent

permitted

and,

if

necessary,

a

return

of

capital.

Distributable

earnings

are

determined

according

to

income

tax

regulations

(tax

basis)

and

may

differ

from

earnings

recorded

in

accordance

with

U.S.

GAAP.

These

differences

may

be

permanent

or

temporary.

Permanent

differences

are

reclassified

among

capital

accounts

to

reflect

their

tax

character.

These

reclassifications

have

no

impact

on

net

assets

or

the

results

of

operations.

Temporary

differences

are

not

reclassified,

as

they

may

reverse

in

subsequent

periods.

Inflation-indexed

bonds

are

adjusted

for

inflation

through

periodic

increases

or

decreases

in

the

security's

interest

accruals,

face

amount,

or

principal

redemption

value,

by

amounts

corresponding

to

the

rate

of

inflation

as

measured

by

an

index.

Any

increase

or

decrease

in

the

face

amount

or

principal

redemption

value

will

be

included

as

interest

income

in

the

Statement

of

Operations.

g. #### Accounting

#### Estimates
The

preparation

of

financial

statements

in

accordance

with

U.S.

GAAP

requires

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

at

the

date

of

the

financial

statements

and

the

amounts

of

income

and

expenses

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates.

h. #### Guarantees

#### and

#### Indemnifications
Under

the Fund's

organizational

documents,

its

officers

and trustees

are

indemnified

by

the

Fund against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Fund.

Additionally,

in

the

normal

course

of

business,

the

Fund

enters

into

contracts

with

service

providers

that

contain

general

indemnification

clauses.

The Fund's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Fund

that

have

not

yet

occurred.

Currently,

the Fund

expects

the

risk

of

loss

to

be

remote.

2. #### Shares

#### of

#### Beneficial

#### Interest
At

June

30,

2025,

there

were

an

unlimited

number

of

shares

authorized

(without

par

value).

During

the periods

ended

June

30,

2025 and December

31,

2024,

there

were

no

shares

issued;

all

reinvested

distributions

were

satisfied

with

previously

issued

shares

purchased

in

the

open

market.

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

e. #### Income

#### and

#### Deferred

#### Taxes
(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Under

the

Board

approved

open-market

share

repurchase

program,

the

Fund

may

purchase,

from

time

to

time,

Fund

shares

in

open-market

transactions,

at

the

discretion

of

management.

During

the

period

ended

June

30,

2025

and

year

ended

December

31,

2024,

there

were

no

shares

repurchased.

3. #### Transactions

#### with

#### Affiliates
Franklin

Resources,

Inc.

is

the

holding

company

for

various

subsidiaries

that

together

are

referred

to

as

Franklin

Templeton.

Certain

officers

and trustees

of

the Fund are

also

officers

and/or

directors

of

the

following

subsidiaries:

a. #### Management

#### Fees
The

Fund

pays

an

investment

management fee,

calculated weekly and

paid

monthly,

to

Advisers based

on the

average

weekly net

assets

of

the

Fund

as

follows:

For

the

period

ended

June

30,

2025,

the

annualized

gross

effective

investment

management

fee

rate

was 1.000%

of

the

Fund's

average daily

net

assets.

b. #### Administrative

#### Fees
Under

an

agreement

with

Advisers,

FT

Services

provides

administrative

services

to

the

Fund.

The

fee

is

paid

by Advisers

based

on

the Fund's

average

daily

net

assets,

and

is

not

an

additional

expense

of

the

Fund.

c. #### Investments

#### in

#### Affiliated

#### Management

#### Investment

#### Companies
The

Fund

invests

in

one

or

more

affiliated

management

investment

companies.

As

defined

in

the

1940

Act,

an

investment

is

deemed

to

be

a

"Controlled

Affiliate"

of

a

fund

when

a

fund

owns,

either

directly

or

indirectly,

25%

or

more

of

the

affiliated

fund's

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

fund.

The

Fund

does

not

invest

for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

Management

fees

paid

by

the

Fund

are

waived

on

assets

invested

in

the

affiliated

management

investment

companies,

as

noted

in

the

Statement

of

Operations,

in

an

amount

not

to

exceed

the

management

and

administrative

fees,

if

applicable, paid

directly

or

indirectly

by

each

affiliate.

During

the

period

ended

June

30,

2025,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows:

#### Subsidiary

#### Affiliation
Franklin

Advisers,

Inc.

(Advisers)

Investment

manager

Franklin

Templeton

Services,

LLC

(FT

Services)

Administrative

manager

#### Annualized

#### Fee

#### Rate

#### Net

#### Assets
1.000%

Up

to

and

including

$1

billion

0.950%

Over

$1

billion,

up

to

and

including

$2

billion

0.900%

In

excess

of

$2

billion

2. #### Shares

#### of

#### Beneficial

#### Interest
(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

4. #### Income

#### Taxes
For

tax

purposes,

capital

losses

may

be

carried

over

to

offset

future

capital

gains.

At

December

31,

2024,

the

capital

loss

carryforwards

were

as

follows:

For

tax

purposes,

the

Fund

may

elect

to

defer

any

portion

of

a

post-October

capital

loss

or

late-year

ordinary

loss

to

the

first

day

of

the

following

fiscal

year.

At

December

31,

2024,

the

Fund

deferred

late-year

ordinary

losses

of

$8,318,105.

At

June

30,

2025,

the

cost

of

investments

and

net

unrealized

appreciation

(depreciation) for

income

tax

purposes

were

as

follows:

Differences

between

income

and/or

capital

gains

as

determined

on

a

book

basis

and

a

tax

basis

are

primarily

due

to

differing

treatments

of

defaulted

securities,

foreign

currency

transactions,

payments-in-kind,

bond

discounts

and

premiums

and

derivative

financial

instruments.

5. #### Investment

#### Transactions
Purchases

and

sales

of

investments (excluding

short

term

securities) for

the

period

ended

June

30,

2025,

aggregated

$45,660,839 and

$52,670,085,

respectively.

#### &nbsp;&nbsp;&nbsp;&nbsp;aa

#### Value

#### at

#### Beginning

#### of

#### Period

#### Purchases

#### Sales

#### Realized

#### Gain
(Loss)

#### Net

#### Change

#### in

#### Unrealized

#### Appreciation
(Depreciation)

#### Value

#### at

#### End

#### of

#### Period

#### Number

#### of

#### Shares

#### Held

#### at

#### End

#### of

#### Period

#### Investment

#### Income

#### a&nbsp;&nbsp;&nbsp;&nbsp;

#### a

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund

#### Non-Controlled

#### Affiliates
Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

4.332%

$8,132,962

$75,249,761

$(72,062,435)

$—

$—

$11,320,288

11,320,288

$217,089

#### Total

#### Affiliated

#### Securities

#### ...
$8,132,962

$75,249,761

$(72,062,435)

$—

$—

$11,320,288

$217,089

Capital

loss

carryforwards

not

subject

to

expiration:

Short

term

................................................................................

$

3,905,510

Long

term

................................................................................

115,587,850

Total

capital

loss

carryforwards

...............................................................

$119,493,360

Cost

of

investments

..........................................................................

$410,075,590

Unrealized

appreciation

........................................................................

$30,816,186

Unrealized

depreciation

........................................................................

(103,443,421)

Net

unrealized

appreciation

(depreciation)

..........................................................

$(72,627,235)

3. #### Transactions

#### with

#### Affiliates
(continued)

c. #### Investments

#### in

#### Affiliated

#### Management

#### Investment

#### Companies
(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

6. #### Credit

#### Risk

#### and

#### Defaulted

#### Securities
At

June

30,

2025,

the

Fund

had 68.0%

of

its

portfolio

invested

in

high

yield

or

other

securities

rated

below

investment

grade

and

unrated

securities.

These

securities

may

be

more

sensitive

to

economic

conditions

causing

greater

price

volatility

and

are

potentially

subject

to

a

greater

risk

of

loss

due

to

default

than

higher

rated

securities.

The

Fund held

defaulted

securities

and/or

other

securities

for

which

the

income

has

been

deemed

uncollectible.

At

June

30,

2025,

the

aggregate

value

of

these

securities

was

$0,

representing

0.0%

of

the

Fund's

net

assets.

The

Fund

discontinues

accruing

income

on

securities

for

which

income

has

been

deemed

uncollectible

and

provides

an

estimate

for

losses

on

interest

receivable.

The

securities

have

been

identified

in

the

accompanying Schedule

of

Investments.

#### 7

#### .

#### Concentration

#### of

#### Risk
Investing

in

foreign

securities

may

include

certain

risks

and

considerations

not

typically

associated

with

investing

in

U.S.

securities,

such

as

fluctuating

currency

values

and

changing

local,

regional

and

global

economic,

political

and

social

conditions,

which

may

result

in

greater

market

volatility.

Political

and

financial

uncertainty

in

many

foreign

regions

may

increase

market

volatility

and

the

economic

risk

of

investing

in

foreign

securities.

In

addition,

certain

foreign

securities

may

not

be

as

liquid

as

U.S.

securities.

8. #### Restricted

#### Securities
The

Fund

invests

in

securities

that

are

restricted

under

the

Securities

Act

of

1933

(1933

Act).

Restricted

securities

are

often

purchased

in

private

placement

transactions,

and

cannot

be

sold

without

prior

registration

unless

the

sale

is

pursuant

to

an

exemption

under

the

1933

Act.

Disposal

of

these

securities

may

require

greater

effort

and

expense,

and

prompt

sale

at

an

acceptable

price

may

be

difficult.

The Fund

may

have

registration

rights

for

restricted

securities.

The

issuer

generally

incurs

all

registration

costs.

At

June

30,

2025,

investments

in

restricted

securities,

excluding

securities

exempt

from

registration

under

the

1933

Act,

were

as

follows:

#### Shares

#### Issuer

#### Acquisition

#### Date

#### Cost

#### Value

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
93,760,463

a

K2016470219

South

Africa

Ltd.,

A

...............

5/10/11

-

2/01/17

$

538,947

$

—

161,018,517

a

K2016470219

South

Africa

Ltd.,

B

...............

5/10/11

-

2/01/17

119,550

—

#### Total

#### Restricted

#### Securities
(Value

is

—%

of

Net

Assets)

#### ...............
$658,497

$—

a

The

Fund

also

invests

in

unrestricted

securities

of

the

issuer,

valued

at

$16,988

as

of

June

30,

2025. Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

9. #### Other

#### Derivative

#### Information
At

June

30,

2025,

investments

in

derivative

contracts

are

reflected

in

the Statement of

Assets

and

Liabilities

as

follows:

For

the

period

ended

June

30,

2025,

the

effect

of

derivative

contracts

in

the Statement

of

Operations

was

as

follows:

For

the

period

ended

June

30,

2025,

the

average

month

end

notional

amount

of

swap

contracts

represented

$77,177,988.

The

average

month

end

contract

value

of

forward

exchange

contracts

was

$284,546,490.

#### Asset

#### Derivatives

#### Liability

#### Derivatives

#### Derivative

#### Contracts

#### Not

#### Accounted

#### for

#### as

#### Hedging

#### Instruments

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Location

#### Fair

#### Value

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Location

#### Fair

#### Value

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
Interest

rate

contracts

.......

Variation

margin

on

centrally

cleared

swap

contracts

$

1,250,669

a

Variation

margin

on

centrally

cleared

swap

contracts

$

1,487,376

a

Foreign

exchange

contracts

..

Unrealized

appreciation

on

OTC

forward

exchange

contracts

8,092,729

Unrealized

depreciation

on

OTC

forward

exchange

contracts

5,719,662

Total

....................

$9,343,398

$7,207,038

a

This

amount

reflects

the

cumulative

appreciation

(depreciation)

of

centrally

cleared

swap

contracts

as

reported

in

the

Schedule

of

Investments.

Only

the

variation

margin

receivable/payable

at

period

end

is

separately

reported

within

the

Statement

of

Assets

and

Liabilities.

Prior

variation

margin

movements

were

recorded

to

cash

upon

receipt

or

payment.

#### Derivative

#### Contracts

#### Not

#### Accounted

#### for

#### as

#### Hedging

#### Instruments

#### Statement

#### of

#### Operations

#### Location

#### Net

#### Realized

#### Gain
(Loss)

#### for

#### the

#### Period

#### Statement

#### of

#### Operations

#### Location

#### Net

#### Change

#### in

#### Unrealized

#### Appreciation
(Depreciation)

#### for

#### the

#### Period

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
Net

realized

gain

(loss)

from:

Net

change

in

unrealized

&nbsp;&nbsp;&nbsp;&nbsp;appreciation

(depreciation)

on:

Interest

rate

contracts

..........

Swap

contracts

$(708,508)

Swap

contracts

$3,533,481

Foreign

exchange

contracts

.....

Forward

exchange

contracts

1,352,842

Forward

exchange

contracts

8,638,494

Total

.......................

$644,334

$12,171,975

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

At

June

30,

2025,

the

Fund's

OTC

derivative

assets

and

liabilities

are

as

follows:

At

June

30,

2025,

OTC

derivative

assets,

which

may

be

offset

against

the

Fund's

OTC

derivative

liabilities

and

collateral

received

from

the

counterparty,

are

as

follows:

#### Gross

#### Amounts

#### of

#### Assets

#### and

#### Liabilities

#### Presented

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Assets

#### a

#### Liabilities

#### a

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
Forward

Exchange

Contracts

.............................

$

8,092,729

$

5,719,662

Total

.............................................

$8,092,729

$5,719,662

a

Absent

an

event

of

default

or

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

in

the

Statement

of

Assets

and

Liabilities.

#### Amounts

#### Not

#### Offset

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Gross

#### Amounts

#### of

#### Assets

#### Presented

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Financial

#### Instruments

#### Available

#### for

#### Offset

#### Financial

#### Instruments

#### Collateral

#### Received

#### a,b

#### Cash

#### Collateral

#### Received

#### Net

#### Amount

#### (Not

#### less

#### than

#### zero)

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund

#### Counterparty
BAST

....................

$

544,709

$

(47,760)

$

—

$

(260,000)

$

236,949

BNDP

...................

100,389

(100,389)

—

—

—

BOFA

....................

854,459

(854,459)

—

—

—

BZWS

...................

—

—

—

—

—

CITI

.....................

—

—

—

—

—

DBAB

...................

937,467

(86,537)

(850,930)

—

—

GSCO

...................

1,401,433

—

—

(1,230,000)

171,433

HSBK

...................

1,745,377

(53,436)

—

(1,260,000)

431,941

JPHQ

...................

1,292,036

(1,292,036)

—

—

—

MSCO

...................

1,216,859

(5,410)

(1,021,456)

—

189,993

Total

...................

$8,092,729

$(2,440,027)

$(1,872,386)

$(2,750,000)

$1,030,316

9. #### Other

#### Derivative

#### Information
(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

At

June

30,

2025,

OTC

derivative

liabilities,

which

may

be

offset

against

the

Fund's

OTC

derivative

assets

and

collateral

pledged

to

the

counterparty,

are

as

follows:

See

Note

1(c) regarding

derivative

financial

instruments.

See

Abbreviations

on

page

31. 10. #### Credit

#### Facility
The

Fund

participates

in

a

senior

secured

revolving

credit

facility

agreement

(Credit

Facility)

with

The

Bank

of

Nova

Scotia

(BNS)

pursuant

to

which

the

Fund

may

borrow

up

to

a

maximum

commitment

amount

of

$65

million

which

matures

on

January

9,

2026. The

Credit

Facility

provides

a

source

of

funds

to

the

Fund

to

purchase

additional

investments

as

part

of

its

investment

strategy.

Under

the

terms

of

the

Credit

Facility,

the

Fund

shall,

in

addition

to

interest

charged

on

any

borrowings

made

by

the

Fund

at

the

applicable

rate,

pay

an

annual

commitment

fee

of

0.25%

based

on

the

unused

portion

of

the

Credit

Facility

or

0.15%

whenever

the

outstanding

borrowings

exceed

75%

of

the

commitment

amount.

As

security

for

the

obligations

of

the

Fund

under

the

Credit

Facility,

the

Fund

has

granted

to

BNS

a

security

interest

in

the

assets

of

the

Fund.

At June

30,

2025,

the

Fund

had

outstanding

borrowings

of

$65,000,000,

which

approximates

fair

value,

and

incurred

interest

expenses

at

a

rate

equal

to

the

term

Secured

Overnight

Financing

Rate

(SOFR)

plus

0.90%. The

borrowings

are

categorized

as

Level

within

the

fair

value

hierarchy.

The

average

borrowings

and

the

average

interest

rate

for

the

days

with

outstanding

borrowings

during

the period ended

June

30,

2025,

were

$65,000,000

and

5.33%,

respectively.

#### Amounts

#### Not

#### Offset

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Gross

#### Amounts

#### of

#### Liabilities

#### Presented

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Financial

#### Instruments

#### Available

#### for

#### Offset

#### Financial

#### Instruments

#### Collateral

#### Pledged

#### Cash

#### Collateral

#### Pledged

#### b

#### Net

#### Amount

#### (Not

#### less

#### than

#### zero)

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund

#### Counterparty
BAST

....................

$

47,760

$

(47,760)

$

—

$

—

$

—

BNDP

...................

1,370,910

(100,389)

—

(1,010,000)

260,521

BOFA

....................

1,227,442

(854,459)

—

(290,000)

82,983

BZWS

...................

1,398,330

—

—

(1,210,000)

188,330

CITI

.....................

77,735

—

—

—

77,735

DBAB

...................

86,537

(86,537)

—

—

—

GSCO

...................

—

—

—

—

—

HSBK

...................

53,436

(53,436)

—

—

—

JPHQ

...................

1,452,102

(1,292,036)

—

(160,066)

—

MSCO

...................

5,410

(5,410)

—

—

—

Total

...................

$5,719,662

$(2,440,027)

$—

$(2,670,066)

$609,569

a

At

June

30,

2025,

the

Fund

received

U.S

Treasury

Bills,

Bonds

and

Strips

as

collateral

for

derivatives.

b

In

some

instances,

the

collateral

amounts

disclosed

in

the

table

above

were

adjusted

due

to

the

requirement

to

limit

the

collateral

amounts

to

avoid

the

effect

of

over

collateralization.

Actual

collateral

received

and/or

pledged

may

be

more

than

the

amounts

disclosed

herein.

9. #### Other

#### Derivative

#### Information
(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

11. #### Fair

#### Value

#### Measurements
The

Fund

follows

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Fund's

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

Fund's financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

Level

–

quoted

prices

in

active

markets

for

identical

financial

instruments

Level

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

Level

–

significant

unobservable

inputs

(including

the

Fund's

own

assumptions

in

determining

the

fair

value

of

financial

instruments)

The

input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level.

A

summary

of

inputs

used

as

of

June

30,

2025,

in

valuing

the

Fund's assets

and

liabilities carried

at

fair

value,

is

as

follows:

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Total

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund

#### Assets:
Investments

in

Securities:

Common

Stocks

:

South

Africa

...........................

$

4,380,218

$

—

$

—

a

$

4,380,218

Corporate

Bonds

........................

—

—

23,416,497

a

23,416,497

Foreign

Government

and

Agency

Securities

....

—

277,319,600

—

277,319,600

Escrows

and

Litigation

Trusts

...............

—

—

16,988

16,988

Short

Term

Investments

...................

11,320,288

18,858,404

—

30,178,692

Total

Investments

in

Securities

...........

$15,700,506

$296,178,004

$23,433,485

$335,311,995

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$8,092,729

$—

$8,092,729

Swap

Contracts

.........................

—

1,250,669

—

1,250,669

Total

Other

Financial

Instruments

.........

$—

$9,343,398

$—

$9,343,398

#### Liabilities:
Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$

—

$

5,719,662

$

—

$

5,719,662

Swap

Contracts

.........................

—

1,487,376

—

1,487,376

Total

Other

Financial

Instruments

.........

$—

$7,207,038

$—

$7,207,038

a

Includes

financial

instruments

determined

to

have

no

value.

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

A

reconciliation

in

which

Level

inputs

are

used

in

determining

fair

value

is

presented

when

there

are

significant

Level

assets

and/or

liabilities

at

the

beginning

and/or

end

of

the

period.

At

June

30,

2025,

the

reconciliation

is

as

follows:

Significant

unobservable

valuation

inputs

for

material

Level

3 assets

and/or

liabilities and

impact

to

fair

value

as

a

result

of

changes

in

unobservable

valuation

inputs

as

of

June

30,

2025,

are

as

follows:

#### Balance

#### at

#### Beginning

#### of

#### Period

#### Purchases

#### Sales

#### a

#### Transfer

#### Into

#### Level

#### 3

#### Transfer

#### Out

#### of

#### Level

#### 3

#### Net

#### Accretion

#### (Amortiza-

#### tion)

#### Net

#### Realized

#### Gain
(Loss)

#### Net

#### Unr

#### ealized

#### Appreciation
(Depreciation)

#### Balance

#### at

#### End

#### of

#### Period

#### Net

#### Change

#### in

#### Unrealized

#### Appreciation
(Depreciation)

#### on

#### Assets

#### Held

#### at

#### Period

#### End

#### a

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund

#### Assets:
Investments

in

Securities:

Common

Stocks

:

South

Africa

..

$

—

b

$

—

$

—

$

—

$

—

$

—

$

—

$

—

$

—

b

$

—

Corporate

Bonds

:

Bermuda

....

27,483

—

(24,713)

—

—

10,770

18,156

9,663

41,359

17,763

Costa

Rica

...

10,173,915

—

(380,161)

—

—

—

—

233,553

10,027,307

236,219

South

Africa

..

—

b

—

—

—

—

—

—

—

—

b

—

United

Kingdom

12,945,603

—

—

—

—

11,626

—

390,602

13,347,831

390,602

Escrows

and

Litigation

Trusts

—

b

—

—

—

—

—

—

16,988

16,988

16,988

Total

Investments

in

Securities

.......

$23,147,001

$—

$(404,874)

$—

$—

$22,396

$18,156

$650,806

$23,433,485

$661,572

a

Sales

include

all

sales

of

securities,

maturities,

paydowns

and

securities

tendered

in

corporate

actions.

b

Includes

financial

instruments

determined

to

have

no

value.

#### Description

#### Fair

#### Value

#### at

#### End

#### of

#### Period

#### Valuation

#### Technique

#### Unobservable

#### Inputs

#### Amount

#### Impact

#### to

#### Fair

#### Value

#### if

#### Input

#### Increases

#### a

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund

#### Assets:
Investments

in

Securities:

Corporate

Bonds:

Costa

Rica

............

$10,027,307

Discounted

cash

flow

Discount

rate

b

7.2%

Decrease

All

Other

...................

13,406,178

c,d,e

Total

.........................

$23,433,485

a

Represents

the

directional

change

in

the

fair

value

of

the

Level

financial

instruments

that

would

result

from

a

significant

and

reasonable

increase

in

the

corresponding

input.

A

significant

and

reasonable

decrease

in

the

input

would

have

the

opposite

effect.

Significant

increases

and

decreases

in

these

inputs

in

isolation

could

result

in

significantly

higher

or

lower

fair

value

measurements.

b

The

discount

rate

is

comprised

of

the

risk-free

rate,

the

10-year

Costa

Rican

CDS

spread,

and

an

incremental

issuer

credit

spread

combined

to

arrive

at

an

8%

yield

on

issue

date

for

an

8%

coupon

bond

issued

at

par.

The

incremental

issuer

spread

is

further

adjusted

to

reflect

the

current

market

spread

for

similar

credits

above

the

Costa

Rican

credit

spread.

c

Includes

fair

value

of

immaterial

assets

and/or

liabilities

developed

using

various

valuation

techniques

and

unobservable

inputs.

d

Includes

fair

value

of

assets

and/or

liabilities

derived

from

recent

transactions,

private

transaction

prices,

or

non-public

third-party

pricing

information

that

is

unobservable.

e

Includes

financial

instruments

determined

to

have

no

value.

11. #### Fair

#### Value

#### Measurements
(continued)

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

12. #### Operating

#### Segments
The

Fund has adopted

the

FASB

Accounting

Standards

Update

(ASU)

2023-07,

*Segment* 

*Reporting* 

*(Topic* 

*280)* 

*-* 

*Improvements* 

*to* 

*Reportable* 

*Segment* 

*Disclosures.*

The

update

is

limited

to

disclosure

requirements

and

does

not

impact

the Fund's

financial

position

or

results

of

operations.

The Fund operates

as

a

single

operating

segment,

which

is

an

investment

portfolio.

The

Fund's Investment

manager

serves

as

the

Chief

Operating

Decision

Maker

(CODM),

evaluating

fund-wide

results

and

performance

under

a

unified

investment

strategy.

The

CODM

uses

these

measures

to

assess

fund

performance

and

allocate

resources

effectively.

Internal

reporting

provided

to

the

CODM

aligns

with

the

accounting

policies

and

measurement

principles

used

in

the financial

statements.

For

information

regarding

segment

assets,

segment

profit

or

loss,

and

significant

expenses,

refer

to

the Statement

of

Assets

and

Liabilities

and

the Statement

of

Operations,

along

with

the

related

notes

to

the financial

statements.

The Schedule

of

Investments

provides

details

of

the Fund's

investments

that

generate

returns

such

as

interest,

dividends,

and

realized

and

unrealized

gains

or

losses.

Performance

metrics,

including

portfolio

turnover

and

expense

ratios,

are

disclosed

in

the Financial

Highlights.

13. #### New

#### Accounting

#### Pronouncements
In

December

2023,

the

FASB

issued

ASU

No.

2023-09,

Income

Taxes

(Topic

740)

–

Improvements

to

Income

Tax

Disclosures.

The

amendments

enhance

income

tax

disclosures

by

requiring

greater

disaggregation

in

the

rate

reconciliation

and

income

taxes

paid

by

jurisdiction,

while

removing

certain

disclosure

requirements.

The

ASU

is

effective

for

annual

periods

beginning

after

December

15,

2024,

with

early

adoption

permitted.

Management

is

currently

evaluating

the

impact

and

believes

that

the

adoption

of

the

ASU

will

not

have

a

material

impact

on

the

financial

statements.

14. #### Subsequent

#### Events
The

Fund

has

evaluated

subsequent

events

through

the

issuance

of

the

financial

statements

and

determined

that

no

events

have

occurred

that

require

disclosure.

Templeton

Emerging

Markets

Income

Fund

Notes

to

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

#### Abbreviations

#### Counterparty

#### BAST
Banco

Santander

SA

#### BNDP
BNP

Paribas

SA

#### BOFA
Bank

of

America

NA

#### BZWS
Barclays

Bank

plc

#### CITI
Citibank

NA

#### DBAB
Deutsche

Bank

AG

#### GSCO
Goldman

Sachs

Group,

Inc.

#### HSBK
HSBC

Bank

plc

#### JPHQ
JPMorgan

Chase

Bank

NA

#### MSCO
Morgan

Stanley

#### Cu

#### r

#### rency

#### BRL
Brazilian

Real

#### CAD
Canadian

Dollar

#### COP
Colombian

Peso

#### EGP
Egyptian

Pound

#### EUR
Euro

#### GHS
Ghanaian

Cedi

#### INR
Indian

Rupee

#### KZT
Kazakhstani

Tenge

#### MXN
Mexican

Peso

#### UGX
Ugandan

Shilling

#### USD
United

States

Dollar

#### UYU
Uruguayan

Peso

#### UZS
Uzbekistani

Som

#### ZAR
South

African

Rand

#### ZMW
Zambian

Kwacha

The

following

reference

rates,

and

their

values

as

of

period

end,

are

used

for

security

descriptions:

#### Reference

#### Index

#### Reference

#### Rate
1-day

BRL

CDI

......................

14.90%

1-day

IBR

..........................

8.73%

1-day

TIIEOIS

.......................

8.14%

#### Selected

#### Portfolio

#### CDI
certificado

de

deposito

interbancario

#### IBR
Interbank

Rate

#### PIK
Payment-In-Kind

#### SOFR
Secured

Overnight

Financing

Rate

#### TIIEOIS
Interbank

Equilibrium

Interest

Rate

Overnight

Index

Swaps

Templeton

Emerging

Markets

Income

Fund

Important

Information

to

Shareholders

franklintempleton.com

Semiannual

Report

#### Share

#### Repurchase

#### Program
The

Fund's

Board

previously

authorized

the

Fund

to

repurchase

up

to

10%

of

the

Fund's

outstanding

shares

in

open-market

transactions,

at

the

discretion

of

management.

This

authorization

remains

in

effect.

In

exercising

its

discretion

consistent

with

its

portfolio

management

responsibilities,

the

investment

manager

will

take

into

account

various

other

factors,

including,

but

not

limited

to,

the

level

of

the

discount,

the

Fund's

performance,

portfolio

holdings,

dividend

history,

market

conditions,

cash

on

hand,

the

availability

of

other

attractive

investments

and

whether

the

sale

of

certain

portfolio

securities

would

be

undesirable

because

of

liquidity

concerns

or

because

the

sale

might

subject

the

Fund

to

adverse

tax

consequences.

Any

repurchases

would

be

made

on

a

national

securities

exchange

at

the

prevailing

market

price,

subject

to

exchange

requirements,

Federal

securities

laws

and

rules

that

restrict

repurchases,

and

the

terms

of

any

outstanding

leverage

or

borrowing

of

the

Fund.

If

and

when

the

Fund's

10%

threshold

is

reached,

no

further

repurchases

could

be

completed

until

authorized

by

the

Board.

Until

the

10%

threshold

is

reached,

Fund

management

will

have

the

flexibility

to

commence

share

repurchases

if

and

when

it

is

determined

to

be

appropriate

in

light

of

prevailing

circumstances.

In

the

Notes

to

Financial

Statements

section,

please

see

note

(Shares

of

Beneficial

Interest)

for

additional

information

regarding

shares

repurchased.

#### Managed

#### Distribution

#### Plan
The

Board

has

implemented

a

managed

distribution

plan

where

the

Fund

distributes

a

level

distribution

amount

to

shareholders.

The

Fund

intends

to

make

monthly

distributions

to

shareholders

at

the

fixed

rate

of

$0.0475

per

share.

Management

will

generally

distribute

amounts

necessary

to

satisfy

the

Fund's

plan

and

the

requirements

prescribed

by

excise

tax

rules

and

Subchapter

M

of

the

Internal

Revenue

Code.

The

plan

is

intended

to

provide

shareholders

with

a

consistent

distribution

each

month

and

is

intended

to

narrow

the

discount

between

the

market

price

and

the

NAV

of

the

Fund's

common

shares,

but

there

is

no

assurance

that

the

plan

will

be

successful

in

doing

so.

Under

the

managed

distribution

plan,

to

the

extent

that

sufficient

investment

income

is

not

available

on

a

monthly

basis,

the

Fund

will

distribute

long-term

capital

gains

and/or

return

of

capital

in

order

to

maintain

its

managed

distribution

rate.

No

conclusions

should

be

drawn

about

the

Fund's

investment

performance

from

the

amount

of

the

Fund's

distributions

or

from

the

terms

of

the

Fund's

managed

distribution

plan.

The

Board

may

amend

the

terms

of

the

plan

or

terminate

the

plan

at

any

time.

The

amendment

or

termination

of

the

plan

could

have

an

adverse

effect

on

the

market

price

of

the

Fund's

common

shares.

The

plan

will

be

subject

to

the

periodic

review

by

the

Board,

including

a

yearly

review

of

the

annual

minimum

fixed

rate

to

determine

if

an

adjustment

should

be

made.

In

compliance

with

Rule

19a-1

of

the

Investment

Company

Act

of

1940,

shareholders

will

receive

a

notice

that

details

the

source

of

income

for

each

dividend

such

as

net

investment

income,

gain

from

the

sale

of

securities

and

return

of

principal.

However,

determination

of

the

actual

source

of

the

Fund's

dividend

can

only

be

made

at

year-end.

The

actual

source

amounts

of

all

Fund

dividends

will

be

included

in

the

Fund's

annual

or

semiannual

reports.

In

addition,

the

tax

treatment

may

differ

from

the

accounting

treatment

used

to

calculate

the

source

of

the

Fund's

dividends

as

shown

on

shareholders'

statements.

Shareholders

should

refer

to

their

Form

1099-DIV

for

the

character

and

amount

of

distributions

for

income

tax

reporting

purposes.

Since

each

shareholder's

tax

situation

is

unique,

it

may

be

advisable

to

consult

a

tax

advisor

as

to

the

appropriate

treatment

of

Fund

distributions.

#### Approval

#### of

#### Renewed

#### Borrowing

#### Arrangements
On

January

10,

2025,

the

Fund

renewed

the

existing

committed,

senior,

secured

line

of

credit

facility

("Existing

Credit

Facility")

with

The

Bank

of

Nova

Scotia

for

an

additional

364-day

term

("Credit

Facility

Renewal"),

until

January

9,

2026. The

terms

of

the

Credit

Facility

Renewal

are

the

same

as

the

terms

of

the

Existing

Credit

Facility.

The

purpose

of

the

Credit

Facility

is

to

provide

the

Fund

with

a

source

of

funds

to

purchase

additional

investments

and

pursue

certain

investment

strategies.

Given

the

permanent

capital

structure

and

the

absence

of

daily

liquidity

requirements,

the

Fund's

closed-end

fund

structure

is

particularly

well-suited

for

leverage.

Templeton

Emerging

Markets

Income

Fund

Annual

Meeting

of

Shareholders

May

22,

2025

(unaudited)

franklintempleton.com

Semiannual

Report

The

Annual

Meeting

of

Shareholders

of

Templeton

Emerging

Markets

Income

Fund

(the

"Fund")

was

held

at

the

Fund's

offices,

S.E.

2nd

Street,

Fort

Lauderdale,

Florida,

on

May

22,

2025. The

purpose

of

the

meeting

was

to

elect

three

Trustees

of

the

Fund

and

to

ratify

the

selection

of

PricewaterhouseCoopers

LLP

as

the

independent

registered

public

accounting

firm

for

the

Fund

for

the

fiscal

year

ending

December

31,

2025. At

the

meeting,

the

following

persons

were

elected

by

the

shareholders

to

serve

as

Trustees

of

the

Fund:

Mary

C. Choksi,

Gregory

E. Johnson,

and

Rupert

H. Johnson,

Jr.\*

Shareholders

also

ratified

the

selection

of

PricewaterhouseCoopers

LLP

as

the

independent

registered

public

accounting

firm

for

the

Fund

for

the

fiscal

year

ending

December

31,

2025. No

other

business

was

transacted

at

the

meeting

with

respect

to

the

Fund.

The

results

of

the

voting

at

the

Annual

Meeting

are

as

follows:

1. Election

of

three

Trustees:

The

Fund

is

not

aware

of

broker

non-votes

received

with

respect

to

this

item.

2. Ratification

of

the

selection

of

PricewaterhouseCoopers

LLP

as

the

independent

registered

public

accounting

firm

for

the

Fund

for

the

fiscal

year

ending

December

31,

2025:

The

Fund

is

not

aware

of

broker

non-votes

received

with

respect

to

this

item.

\*

*Harris* 

J. *Ashton,* 

*Ann* 

*Torre* 

*Bates,* 

*Terrence* 

J. *Checki,* 

*Edith* 

E. *Holiday,* 

J. *Michael* 

*Luttig,* 

*David* 

W. *Niemiec,* 

*Larry* 

D. *Thompson* 

*and* 

*Constantine* 

D. *Tseretopoulos* 

*are* 

*Trustees* 

*of* 

*the* 

*Fund* 

*who* 

*are* 

*currently* 

*serving* 

*and* 

*whose* 

*terms* 

*of* 

*office* 

*continued* 

*after* 

*the* 

*Annual* 

*Meeting* 

*of* 

*Shareholders*

.

#### Term

#### Expiring

#### 2028

#### For

#### %

#### of

#### Outstanding

#### Shares

#### %

#### of

#### Shares

#### Present

#### Withheld

#### %

#### of

#### Outstanding

#### Shares

#### %

#### of

#### Shares

#### Present
Mary

C. Choksi

..............

Gregory

E. Johnson

..........

Larry

D. Thompson

...........

34,427,794

34,325,983

34,283,996

72.90%

72.68%

72.59%

96.20%

95.91%

95.80%

1,360,397

1,462,208

1,504,195

2.88%

3.10%

3.18%

3.80%

4.09%

4.20%

#### Shares

#### Voted

#### %

#### of

#### Outstanding

#### Shares

#### %

#### of

#### Shares

#### Present
For

.......................

Against

....................

Abstain

....................

38,807,420

535,424

445,343

73.70%

1.13%

0.94%

97.26%

1.50%

1.24%

Templeton

Emerging

Markets

Income

Fund

Dividend

Reinvestment

and

Cash

Purchase

Plan

franklintempleton.com

Semiannual

Report

The

Fund

offers

a

Dividend

Reinvestment

and

Cash

Purchase

Plan

(the

"Plan")

with

the

following

features:

If

shares

of

the

Fund

are

held

in

the

shareholder's

name,

the

shareholder

will

automatically

be

a

participant

in

the

Plan

unless

the

shareholder

elects

to

withdraw.

If

the

shares

are

registered

in

the

name

of

a

broker-dealer

or

other

nominee

(i.e.,

in

"street

name"),

the

broker-dealer

or

nominee

will

elect

to

participate

in

the

Plan

on

the

shareholder's

behalf

unless

the

shareholder

instructs

them

otherwise,

or

unless

the

reinvestment

service

is

not

provided

by

the

broker-dealer

or

nominee.

To

receive

dividends

or

distributions

in

cash,

the

shareholder

must

notify

Equiniti

Trust

Company,

LLC

(the

"Plan

Administrator")

at

P.O.

Box

922,

Wall

Street

Station,

New

York,

NY

10269-0560

or

the

institution

in

whose

name

the

shares

are

held.

The

Plan

Administrator

must

receive

written

notice

ten

business

days

before

the

record

date

for

the

distribution.

Whenever

the

Fund

declares

dividends

in

either

cash

or

shares

of

the

Fund,

if

the

market

price

is

equal

to

or

exceeds

net

asset

value

at

the

valuation

date,

the

participant

will

receive

the

dividends

entirely

in

new

shares

at

a

price

equal

to

the

net

asset

value,

but

not

less

than

95%

of

the

then

current

market

price

of

the

Fund's

shares.

If

the

market

price

is

lower

than

net

asset

value

or

if

dividends

and/or

capital

gains

distributions

are

payable

only

in

cash,

the

participant

will

receive

shares

purchased

on

the

New

York

Stock

Exchange

or

otherwise

on

the

open

market.

A

participant

has

the

option

of

submitting

additional

cash

payments

to

the

Plan

Administrator,

in

any

amounts

of

at

least

$100,

up

to

a

maximum

of

$5,000

per

month,

for

the

purchase

of

Fund

shares

for

his

or

her

account.

These

payments

can

be

made

by

check

payable

to

Equiniti

Trust

Company,

LLC

and

sent

to

Equiniti

Trust

Company,

LLC,

P.O.

Box

922,

Wall

Street

Station,

New

York,

NY

10269-0560,

Attention:

Templeton

Emerging

Markets

Income

Fund.

The

Plan

Administrator

will

apply

such

payments

(less

a

$5.00

service

charge

and

less

a

pro

rata

share

of

trading

fees)

to

purchases

of

the

Fund's

shares

on

the

open

market.

The

automatic

reinvestment

of

dividends

and/or

capital

gains

does

not

relieve

the

participant

of

any

income

tax

that

may

be

payable

on

dividends

or

distributions.

Whenever

shares

are

purchased

on

the

New

York

Stock

Exchange

or

otherwise

on

the

open

market,

each

participant

will

pay

a

pro

rata

portion

of

trading

fees.

Trading

fees

will

be

deducted

from

amounts

to

be

invested.

The

Plan

Administrator's

fee

for

a

sale

of

shares

through

the

Plan

is

$15.00

per

transaction

plus

a

$0.12

per

share

trading

fee.

A

participant

may

withdraw

from

the

Plan

without

penalty

at

any

time

by

written

notice

to

the

Plan

Administrator

sent

to

Equiniti

Trust

Company,

LLC,

P.O.

Box

922,

Wall

Street

Station,

New

York,

NY

10269-0560.

Upon

withdrawal,

the

participant

will

receive,

without

charge,

share

certificates

issued

in

the

participant's

name

for

all

full

shares

held

by

the

Plan

Administrator;

or,

if

the

participant

wishes,

the

Plan

Administrator

will

sell

the

participant's

shares

and

send

the

proceeds

to

the

participant,

less

a

service

charge

of

$15.00

and

less

trading

fees

of

$0.12

per

share.

The

Plan

Administrator

will

convert

any

fractional

shares

held

at

the

time

of

withdrawal

to

cash

at

current

market

price

and

send

a

check

to

the

participant

for

the

net

proceeds.

For

more

information,

please

see

the

Plan's

Terms

and

Conditions

located

at

the

back

of

this

report.

Templeton

Emerging

Markets

Income

Fund

Dividend

Reinvestment

and

Cash

Purchase

Plan

franklintempleton.com

Semiannual

Report

#### Transfer

#### Agent
Equiniti

Trust

Company,

LLC

P.O.

Box

922,

Wall

Street

Station,

New

York,

NY

10269-056

(800) 416-5585

www.equiniti.com

#### Direct

#### Deposit

#### Service

#### for

#### Registered

#### Shareholders
Cash

distributions

can

now

be

electronically

credited

to

a

checking

or

savings

account

at

any

financial

institution

that

participates

in

the

Automated

Clearing

House

("ACH")

system.

The

Direct

Deposit

service

is

provided

for

registered

shareholders

at

no

charge.

To

enroll

in

the

service,

access

your

account

online

by

going

to

www.equiniti.com

or

dial

(800) 416-

5585

(toll

free)

and

follow

the

instructions.

Direct

Deposit

will

begin

with

the

next

scheduled

distribution

payment

date

following

enrollment

in

the

service.

#### Direct

#### Registration
If

you

are

a

registered

shareholder

of

the

Fund,

purchases

of

shares

of

the

Fund

can

be

electronically

credited

to

your

Fund

account

at

Equiniti

Trust

Company,

LLC

through

Direct

Registration.

This

service

provides

shareholders

with

a

convenient

way

to

keep

track

of

shares

through

book

entry

transactions,

electronically

move

book-entry

shares

between

broker-dealers,

transfer

agents

and

DRS

eligible

issuers,

and

eliminate

the

possibility

of

lost

certificates.

For

additional

information,

please

contact

Equiniti

Trust

Company,

LLC

at

(800) 416-5585.

#### Shareholder

#### Information
Shares

of

Templeton

Emerging

Markets

Income

Fund

are

traded

on

the

New

York

Stock

Exchange

under

the

symbol

"TEI."

Information

about

the

net

asset

value

and

the

market

price

is

available

at

franklintempleton.com.

For

current

information

about

dividends

and

shareholder

accounts,

call

(800) 416-5585.

Registered

shareholders

can

access

their

Fund

account

on-line.

For

information

go

to

Equiniti

Trust

Company,

LLC's

web

site

at

www.equiniti.com

and

follow

the

instructions.

The

daily

closing

net

asset

value

as

of

the

previous

business

day

may

be

obtained

when

available

by

calling

Franklin

Templeton

Fund

Information

after

a.m.

Pacific

time

any

business

day

at

(800) DIAL

BEN/342-5236.

The

Fund's

net

asset

value

and

dividends

are

also

listed

on

the

NASDAQ

Stock

Market,

Inc.'s

Mutual

Fund

Quotation

Service

("NASDAQ

MFQS").

Shareholders

not

receiving

copies

of

reports

to

shareholders

because

their

shares

are

registered

in

the

name

of

a

broker

or

a

custodian

can

request

that

they

be

added

to

the

Fund's

mailing

list,

by

writing

Templeton

Emerging

Markets

Income

Fund,

Fountain

Parkway,

P.O.

Box

33030,

St.

Petersburg,

FL,

33733-8030.

Templeton

Emerging

Markets

Income

Fund

Shareholder

Information

franklintempleton.com

Semiannual

Report

Board

Approval

of

Investment

Management

Agreements

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund
(Fund)

At

an

in-person

meeting

held

on

May

29,

2025

(Meeting),

the

Board

of

Trustees

(Board)

of

the

Fund,

including

a

majority

of

the

trustees

who

are

not

"interested

persons"

as

defined

in

the

Investment

Company

Act

of

1940

(Independent

Trustees),

reviewed

and

approved

the

continuance

of

the

investment

management

agreement

between

Franklin

Advisers,

Inc.

(Manager)

and

the

Fund

(Management

Agreement)

for

an

additional

one-year

period.

The

Independent

Trustees

received

advice

from

and

met

separately

with

Independent

Trustee

counsel

to

consider

the

renewal

of

the

Management

Agreement.

In

considering

the

continuance

of

the

Management

Agreement,

the

Board

reviewed

and

considered

information

provided

by

the

Manager

at

the

Meeting

and

throughout

the

year

at

meetings

of

the

Board

and

its

committees.

The

Board

also

reviewed

and

considered

information

provided

in

response

to

a

detailed

set

of

requests

for

information

submitted

to

the

Manager

by

Independent

Trustee

counsel

on

behalf

of

the

Independent

Trustees

in

connection

with

the

annual

contract

renewal

process.

In

addition,

prior

to

the

Meeting,

the

Independent

Trustees

held

a

virtual

contract

renewal

meeting

at

which

the

Independent

Trustees

first

conferred

amongst

themselves

and

Independent

Trustee

counsel

about

contract

renewal

matters,

and

then

met

with

management

to

request

additional

information

that

the

Independent

Trustees

also

considered

prior

to

and

at

the

Meeting.

On

several

occasions,

both

prior

to,

and

at

the

Meeting,

the

Independent

Trustees

met

with

senior

executives

of

Franklin

Resources,

Inc.

(FRI),

the

Manager's

parent,

to

discuss

management's

perspectives

on

and

ask

questions

regarding

the

performance

of

the

Fund

and

future

business

strategies

to

address

Fund

underperformance.

The

Board

further

considered

all

of

the

factors

it

deemed

relevant

in

approving

the

continuance

of

the

Management

Agreement,

including,

but

not

limited

to:

(i) the

nature,

extent

and

quality

of

the

services

provided

by

the

Manager;

(ii) the

investment

performance

of

the

Fund;

(iii) the

costs

of

the

services

provided

and

profits

realized

by

the

Manager

and

its

affiliates

from

the

relationship

with

the

Fund;

(iv) the

extent

to

which

economies

of

scale

are

realized

as

the

Fund

grows;

and

(v) whether

fee

levels

reflect

these

economies

of

scale

for

the

benefit

of

Fund

investors.

In

approving

the

continuance

of

the

Management

Agreement,

the

Board,

including

a

majority

of

the

Independent

Trustees,

determined,

through

the

exercise

of

its

business

judgment,

that

the

terms

of

the

Management

Agreement

are

fair

and

reasonable

and

that

the

continuance

of

the

Management

Agreement

is

in

the

best

interests

of

the

Fund

and

its

shareholders.

While

attention

was

given

to

all

information

furnished,

the

following

discusses

some

primary

factors

relevant

to

the

Board's

determination.

#### Nature,

#### Extent

#### and

#### Quality

#### of

#### Services
The

Board

reviewed

the

information

it

received

regarding

the

nature,

extent

and

quality

of

investment

management

services

provided

by

the

Manager

and

its

affiliates

to

the

Fund

and

its

shareholders.

This

information

included,

among

other

things,

the

qualifications,

background

and

experience

of

the

senior

management

and

investment

personnel

of

the

Manager,

as

well

as

information

on

succession

planning

where

appropriate;

the

structure

of

investment

personnel

compensation;

oversight

of

third-party

service

providers;

investment

performance

reports

and

related

financial

information

for

the

Fund

(including

its

share

price

discount

to

net

asset

value);

reports

on

expenses

and

shareholder

services;

legal

and

compliance

matters;

risk

controls;

pricing

and

other

services

provided

by

the

Manager

and

its

affiliates;

and

management

fees

charged

by

the

Manager

and

its

affiliates

to

US

funds

and

other

accounts,

including

management's

explanation

of

differences

among

accounts

where

relevant.

The

Board

acknowledged

the

ongoing

integration

of

acquired

third-party

fund

families

into

the

Franklin

Templeton

(FT)

family

of

funds

and

management's

continued

development

of

strategies

to

address

evolving

changes

in

domestic

policy

and

continuing

geopolitical

concerns.

The

Board

noted

that

the

Fund

has

(i) an

open-

market

share

repurchase

program

that

authorizes

the

Fund

to

repurchase

10%

of

the

Fund's

outstanding

shares

in

open-market

transactions;

and

(ii) a

managed

distribution

plan

whereby

the

Fund

distributes

a

level

distribution

amount

to

shareholders

monthly

at

the

fixed

rate

of

$0.0475

per

share.

The

Board

also

reviewed

and

considered

the

benefits

provided

to

Fund

shareholders

of

investing

in

a

fund

that

is

part

of

the

FT

family

of

funds.

The

Board

noted

the

financial

position

of

FRI

and

its

commitment

to

the

mutual

fund

business

as

evidenced

by

its

continued

reassessment

of

the

fund

offerings

in

response

to

FT

acquisitions

and

the

market

environment,

as

well

as

its

evaluation

of

ways

to

incorporate

private

assets

into

more

traditional

investment

vehicles.

The

Board

specifically

noted

FT's

commitment

to

technological

Templeton

Emerging

Markets

Income

Fund

Shareholder

Information

franklintempleton.com

Semiannual

Report

innovation

and

advancement,

including

its

continued

focus

on

developing

potential

use

cases

for

tokenization

and

the

blockchain

and

the

use

of

artificial

intelligence

tools

to

help

streamline

day-to-day

tasks.

Following

consideration

of

such

information,

the

Board

was

satisfied

with

the

nature,

extent

and

quality

of

services

provided

by

the

Manager

and

its

affiliates

to

the

Fund

and

its

shareholders.

#### Fund

#### Performance
The

Board

reviewed

and

considered

the

performance

results

of

the

Fund

over

various

time

periods

ended

December

31,

2024. The

Board

considered

the

performance

returns

for

the

Fund

in

comparison

to

the

performance

returns

of

mutual

funds

deemed

comparable

to

the

Fund

included

in

a

universe

(Performance

Universe)

selected

by

Broadridge

Financial

Solutions,

Inc.

(Broadridge),

an

independent

provider

of

investment

company

data.

The

Board

received

a

description

of

the

methodology

used

by

Broadridge

to

select

the

mutual

funds

included

in

the

Performance

Universe.

The

Board

also

considered

the

performance

returns

for

the

Fund

in

comparison

to

the

performance

returns

of

a

customized

peer

group

(Performance

Customized

Peer

Group)

selected

by

the

Manager.

The

Board

also

reviewed

and

considered

Fund

performance

reports

provided

and

discussions

that

occurred

with

portfolio

managers

at

Board

meetings

throughout

the

year.

A

summary

of

the

Fund's

performance

results

is

below.

Such

results

are

based

on

net

asset

value

without

regard

to

market

discounts

or

premiums.

The

Performance

Universe

for

the

Fund

included

the

Fund

and

all

leveraged

closed-end

emerging

markets

hard

currency

debt

funds.

The

Performance

Customized

Peer

Group

for

the

Fund

included

only

local

currency

funds.

The

Board

noted

that

the

Fund's

annualized

income

return

for

the

one-

and

10-year

periods

was

below

the

median

of

its

Performance

Universe,

for

the

five-year

period

was

equal

to

the

median

of

its

Performance

Universe,

and

for

the

three-year

period

was

above

the

median

of

its

Performance

Universe.

The

Board

also

noted

that

the

Fund's

annualized

income

return

for

the

one-,

three-,

five-

and

10-year

periods

was

below

the

median

of

its

Performance

Customized

Peer

Group.

The

Board

further

noted

that

the

Fund's

annualized

total

return

for

the

one-,

three-,

five-

and

10-year

periods

was

below

the

median

of

its

Performance

Universe

and

Performance

Customized

Peer

Group.

On

several

occasions,

both

prior

to,

and

at

the

Meeting,

the

Independent

Trustees

met

with

senior

executives

at

FRI

to

discuss

management's

perspectives

on

and

ask

questions

regarding

the

performance

of

the

Fund

and

future

business

strategies

to

address

persistent

Fund

underperformance.

Management

discussed

with

the

Independent

Trustees

the

scope

of

the

overall

integration

of

certain

recently

acquired

asset

managers

and

the

impact

of

the

integration

firm

wide.

Management

explained,

as

part

of

the

larger

firm-wide

integration,

its

plan

to

integrate

the

Templeton

Global

Macro

team

into

the

Franklin

Templeton

Fixed

Income

group.

Management

responded

to

questions

from

the

Independent

Trustees

regarding

the

impact

the

integration

would

have

on

the

investment

leadership

of

the

Templeton

Global

Macro

team.

Management

explained

that

the

Templeton

Global

Macro

team

would

now

report

to

the

CIO

of

the

Franklin

Templeton

Fixed

Income

Group.

The

Trustees

met

with

the

CIO

of

the

Franklin

Templeton

Fixed

Income

Group

and

discussed,

among

other

topics,

past

Fund

performance

and

expected

enhancements

to

the

Fund's

fixed-income

processes,

including

the

enhanced

collaboration

with

the

firm's

Investment

Risk

Management

Group.

In

addition,

the

Board

further

discussed

the

performance

of

the

Fund

with

other

members

of

management

prior

to,

and

at

the

Meeting.

Management

explained

that

the

funds

in

the

Performance

Universe

generally

maintained

greater

exposure

to

corporate

bonds

and

hard

currency

than

the

Fund,

which

adversely

impacted

the

Fund's

performance

due

to

the

historic

strength

of

the

US

dollar

against

many

other

currencies.

Management

reported

that

in

the

year-to-date

period

ending

April

30,

2025,

the

Fund

had

outperformed

its

benchmark,

the

JP

Morgan

EMBI

Global

Index,

on

a

market

price

return

and

net

asset

value

return

basis

by

7.13%

and

4.71%,

respectively.

Management

also

reported

that

the

Fund

outperformed

its

benchmark,

the

JP

Morgan

EMBI

Global

Index,

for

the

three-year

period

ended

December

31,

2024. The

Board

discussed

with

management

the

actions

that

are

being

taken/have

been

taken

in

an

effort

to

improve

the

overall

performance

of

the

Fund,

including

the

enhanced

collaboration

between

the

portfolio

management

team

and

the

firm's

Investment

Risk

Management

Group

and

refinements

to

the

Fund's

investment

process.

The

Board

also

noted

management's

view

regarding

the

income-

related

attributes

of

the

Fund

(e.g.,

a

fund's

investment

objective)

as

set

forth

in

the

Fund's

registration

statement

and

that

the

evaluation

of

the

Fund's

performance

relative

to

its

peers

on

an

income

return

basis

was

appropriate

given

these

attributes.

The

Board

considered

that

the

Fund's

annualized

total

return

and

annualized

income

return

for

the

one-year

period

were

both

positive,

and

5.36%

and

10.02%,

respectively.

The

Board

concluded

that,

taking

into

consideration

all

of

the

discussions

with

and

information

provided

by

management,

the

Fund's

Management

Agreement

should

be

continued

for

an

additional

one-year

period,

while

management's

efforts

continue

to

be

closely

monitored.

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#### Comparative

#### Fees

#### and

#### Expenses
The

Board

reviewed

and

considered

information

regarding

the

Fund's

actual

total

expense

ratio

and

its

various

components,

including,

as

applicable,

management

fees;

underlying

fund

expenses;

investment-related

expenses;

and

other

non-management

fees.

The

Board

considered

the

actual

total

expense

ratio

and,

separately,

the

contractual

management

fee

rate,

without

the

effect

of

fee

waivers,

if

any

(Management

Rate)

of

the

Fund

in

comparison

to

the

median

expense

ratio

and

median

Management

Rate,

respectively,

of

other

mutual

funds

deemed

comparable

to

and

with

a

similar

expense

structure

to

the

Fund

selected

by

Broadridge

(Expense

Group).

Broadridge

fee

and

expense

data

is

based

upon

information

taken

from

each

fund's

most

recent

annual

or

semi-annual

report,

which

reflects

historical

asset

levels

that

may

be

quite

different

from

those

currently

existing,

particularly

in

a

period

of

market

volatility.

While

recognizing

such

inherent

limitation

and

the

fact

that

expense

ratios

and

Management

Rates

generally

increase

as

assets

decline

and

decrease

as

assets

grow,

the

Board

believed

the

independent

analysis

conducted

by

Broadridge

to

be

an

appropriate

measure

of

comparative

fees

and

expenses.

The

Broadridge

Management

Rate

includes

administrative

charges

(as

applicable)

and

for

comparative

consistency,

was

shown

for

the

Fund

and

for

each

other

fund

in

the

Expense

Group.

The

Board

received

a

description

of

the

methodology

used

by

Broadridge

to

select

the

mutual

funds

included

in

the

Expense

Group.

The

Expense

Group

for

the

Fund

included

the

Fund

and

three

other

leveraged

emerging

markets

hard

currency

debt

closed-end

funds.

The

Board

noted

that

the

Management

Rate

was

below

the

median

of

its

Expense

Group,

and

the

actual

total

expense

ratio

for

the

Fund

was

above

the

median

of

its

Expense

Group.

The

Board

also

noted

the

small

size

of

the

Fund's

Expense

Group

(only

four

funds)

for

both

the

Management

Rate

and

the

actual

total

expense

ratio

and

that

no

quintile

information

was

provided

for

the

Fund.

The

Board

concluded

that

the

Management

Rate

charged

to

the

Fund

is

reasonable.

#### Profitability
The

Board

reviewed

and

considered

information

regarding

the

profits

realized

by

the

Manager

and

its

affiliates

in

connection

with

the

operation

of

the

Fund.

In

this

respect,

the

Board

considered

the

Fund

profitability

analysis

provided

by

the

Manager

that

addresses

the

overall

profitability

of

FT's

US

fund

business,

as

well

as

its

profits

in

providing

investment

management

and

other

services

to

each

of

the

individual

funds

during

the

12-month

period

ended

September

30,

2024,

being

the

most

recent

fiscal

year-

end

for

FRI.

The

Board

noted

that

although

management

continually

makes

refinements

to

its

methodologies

used

in

calculating

profitability

in

response

to

organizational

and

product-related

changes,

the

overall

methodology

has

remained

consistent

with

that

used

in

the

Fund's

profitability

report

presentations

from

prior

years.

The

Board

also

noted

that

an

independent

registered

public

accounting

firm

has

been

engaged

by

the

Manager

to

periodically

review

and

assess

the

allocation

methodologies

to

be

used

solely

by

the

Fund's

Board

with

respect

to

the

profitability

analysis.

The

Board

noted

management's

belief

that

costs

incurred

in

establishing

the

infrastructure

necessary

for

the

type

of

mutual

fund

operations

conducted

by

the

Manager

and

its

affiliates

may

not

be

fully

reflected

in

the

expenses

allocated

to

the

Fund

in

determining

its

profitability,

as

well

as

the

fact

that

the

level

of

profits,

to

a

certain

extent,

reflected

operational

cost

savings

and

efficiencies

initiated

by

management.

As

part

of

this

evaluation,

the

Board

considered

management's

outsourcing

of

certain

operations,

which

effort

has

required

considerable

up-front

expenditures

by

the

Manager,

but

over

the

long

run

is

expected

to

result

in

greater

efficiencies.

The

Board

also

noted

management's

expenditures

in

improving

shareholder

services

provided

to

the

Fund,

as

well

as

the

need

to

implement

systems

and

meet

additional

regulatory

and

compliance

requirements

resulting

from

recent

US

Securities

and

Exchange

Commission

and

other

regulatory

requirements.

The

Board

also

considered

the

extent

to

which

the

Manager

and

its

affiliates

might

derive

ancillary

benefits

from

fund

operations,

potential

benefits

resulting

from

personnel

and

systems

enhancements

necessitated

by

fund

growth,

as

well

as

increased

leverage

with

service

providers

and

counterparties.

Based

upon

its

consideration

of

all

these

factors,

the

Board

concluded

that

the

level

of

profits

realized

by

the

Manager

and

its

affiliates

from

providing

services

to

the

Fund

was

not

excessive

in

view

of

the

nature,

extent

and

quality

of

services

provided

to

the

Fund.

#### Economies

#### of

#### Scale
The

Board

reviewed

and

considered

the

extent

to

which

the

Manager

may

realize

economies

of

scale,

if

any,

as

the

Fund

grows

larger

and

whether

the

Fund's

management

fee

structure

reflects

any

economies

of

scale

for

the

benefit

of

shareholders.

The

Board

believes

that

the

Manager's

ability

to

realize

economies

of

scale

and

the

sharing

of

such

benefit

is

a

more

relevant

consideration

in

the

case

of

an

open-end

fund

whose

size

increases

as

a

result

of

the

continuous

sale

of

its

shares.

A

closed-end

fund,

such

as

the

Fund,

does

not

continuously

offer

shares,

and

growth

following

its

initial

public

offering

will

primarily

result

from

market

appreciation,

which

benefits

its

shareholders.

While

believing

economies

of

scale

to

be

less

of

a

factor

in

the

context

of

a

closed-end

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fund,

the

Board

believes

at

some

point

an

increase

in

size

may

lead

to

economies

of

scale

that

would

be

shared

with

the

Fund

and

its

shareholders

and

intends

to

monitor

future

growth

of

the

Fund

accordingly.

The

Board

considered

the

Manager's

view

that

any

analyses

of

potential

economies

of

scale

in

managing

a

particular

fund

are

inherently

limited

in

light

of

the

joint

and

common

costs

and

investments

the

Manager

incurs

across

the

FT

family

of

funds

as

a

whole.

#### Conclusion
Based

on

its

review,

consideration

and

evaluation

of

all

factors

it

believed

relevant,

including

the

above-described

factors

and

conclusions,

the

Board

unanimously

approved

the

continuance

of

the

Management

Agreement

for

an

additional

one-year

period.

Proxy

Voting

Policies

and

Procedures

The

Fund's

investment

manager

has

established

Proxy

Voting

Policies

and

Procedures

(Policies)

that

the

Fund

uses

to

determine

how

to

vote

proxies

relating

to

portfolio

securities.

Shareholders

may

view

the

Fund's

complete

Policies

online

at

franklintempleton.com.

Alternatively,

shareholders

may

request

copies

of

the

Policies

free

of

charge

by

calling

the

Proxy

Group

collect

at

(954) 527-

7678

or

by

sending

a

written

request

to:

Franklin

Templeton

Companies,

LLC,

S.E.

2nd

Street,

Fort

Lauderdale,

FL

33301,

Attention:

Proxy

Group.

Copies

of

the

Fund's

proxy

voting

records

are

also

made

available

online

at

franklintempleton.com

and

posted

on

the

U.S.

Securities

and

Exchange

Commission's

website

at

sec.gov

and

reflect

the

most

recent

12-month

period

ended

June

30. Quarterly

Schedule

of

Investments

The

Fund

files

a

complete

consolidated

statement

of

investments

with

the

U.S.

Securities

and

Exchange

Commission

for

the

first

and

third

quarters

for

each

fiscal

year

as

an

exhibit

to

its

report

on

Form

N-PORT.

Shareholders

may

view

the

filed

Form

N-PORT

by

visiting

the

Commission's

website

at

sec.gov.

The

filed

form

may

also

be

viewed

and

copied

at

the

Commission's

Public

Reference

Room

in

Washington,

DC. Information

regarding

the

operations

of

the

Public

Reference

Room

may

be

obtained

by

calling

(800) SEC-0330.

#### TERMS

#### AND

#### CONDITIONS

#### OF

#### DIVIDEND

#### REINVESTMENT

#### AND

#### CASH

#### PURCHASE

#### PLAN

franklintempleton.com

Semiannual

Report

1. Each

holder

of

shares

(a

"Shareholder")

in

Templeton

Emerging

Markets

Income

Fund

(the

"Fund")

whose

Fund

shares

are

registered

in

his

or

her

own

name

will

automatically

be

a

participant

in

the

Dividend

Reinvestment

and

Cash

Purchase

Plan

(the

"Plan"),

unless

any

such

Shareholder

specifically

elects

in

writing

to

receive

all

dividends

and

capital

gains

in

cash,

paid

by

check,

mailed

directly

to

the

Shareholder.

A

Shareholder

whose

shares

are

registered

in

the

name

of

a

broker-dealer

or

other

nominee

(the

"Nominee")

will

be

a

participant

if

(a) such

a

service

is

provided

by

the

Nominee

and

(b) the

Nominee

makes

an

election

on

behalf

of

the

Shareholder

to

participate

in

the

Plan.

Nominees

intend

to

make

such

an

election

on

behalf

of

Shareholders

whose

shares

are

registered

in

their

names,

as

Nominee,

unless

a

Shareholder

specifically

instructs

his

or

her

Nominee

to

pay

dividends

and

capital

gains

in

cash.

Equiniti

Trust

Company,

LLC

("Equiniti")

will

act

as

Plan

Administrator

and

will

open

an

account

for

each

participating

shareholder

("participant")

under

the

Plan

in

the

same

name

as

that

in

which

the

participant's

present

shares

are

registered.

2. Whenever

the

Fund

declares

a

distribution

from

capital

gains

or

an

income

dividend

payable

in

either

cash

or

shares

of

the

Fund

("Fund

shares"),

if

the

market

price

per

share

on

the

valuation

date

equals

or

exceeds

the

net

asset

value

per

share,

participants

will

receive

such

dividend

or

distribution

entirely

in

Fund

shares,

and

Equiniti

shall

automatically

receive

such

Fund

shares

for

participant

accounts

including

aggregate

fractions.

The

number

of

additional

Fund

shares

to

be

credited

to

participant

accounts

shall

be

determined

by

dividing

the

equivalent

dollar

amount

of

the

capital

gains

distribution

or

dividend

payable

to

participants

by

the

Fund's

net

asset

value

per

share

of

the

Fund

shares

on

the

valuation

date,

provided

that

the

Fund

shall

not

issue

such

shares

at

a

price

lower

than

95%

of

the

current

market

price

per

share.

The

valuation

date

will

be

the

payable

date

for

such

distribution

or

dividend.

3. Whenever

the

Fund

declares

a

distribution

from

capital

gains

or

an

income

dividend

payable

only

in

cash,

or

if

the

Fund's

net

asset

value

per

share

exceeds

the

market

price

per

share

on

the

valuation

date,

Equiniti

shall

apply

the

amount

of

such

dividend

or

distribution

payable

to

participants

to

the

purchase

of

Fund

shares

on

the

open

market

(less

their

pro

rata

share

of

trading

fees

incurred

with

respect

to

open

market

purchases

in

connection

with

the

reinvestment

of

such

dividend

or

distribution).

If,

before

Equiniti

has

completed

its

purchases,

the

market

price

exceeds

the

net

asset

value

per

share,

the

average

per

share

purchase

price

paid

by

Equiniti

may

exceed

the

net

asset

value

of

the

Fund's

shares,

resulting

in

the

acquisition

of

fewer

shares

than

if

the

dividend

or

capital

gains

distribution

had

been

paid

in

shares

issued

by

the

Fund

at

net

asset

value

per

share.

Such

purchases

will

be

made

promptly

after

the

payable

date

for

such

dividend

or

distribution,

and

in

no

event

more

than

days

after

such

date

except

where

temporary

curtailment

or

suspension

of

purchase

is

necessary

to

comply

with

applicable

provisions

of

the

Federal

securities

laws.

4. A

participant

has

the

option

of

submitting

additional

payments

to

Equiniti,

in

any

amounts

of

at

least

$100,

up

to

a

maximum

of

$5,000

per

month,

for

the

purchase

of

Fund

shares

for

his

or

her

account.

These

payments

may

be

made

electronically

through

www.equiniti.com

or

by

check

payable

to

"Equiniti

Trust

Company,

LLC"

and

sent

to

Equiniti

Trust

Company,

LLC,

P.O.

Box

922,

Wall

Street

Station,

New

York,

NY

10269-0560,

Attention:

Templeton

Emerging

Markets

Income

Fund.

Equiniti

shall

apply

such

payments

(less

a

$5.00

service

charge

and

less

a

pro

rata

share

of

trading

fees)

to

purchases

of

Fund

shares

on

the

open

market,

as

discussed

below

in

paragraph

6. Equiniti

shall

make

such

purchases

promptly

on

approximately

the

15th

of

each

month

or,

during

a

month

in

which

a

dividend

or

distribution

is

paid,

beginning

on

the

dividend

payment

date,

and

in

no

event

more

than

days

after

receipt,

except

where

necessary

to

comply

with

provisions

of

Federal

securities

law.

Any

voluntary

payment

received

less

than

two

business

days

before

an

investment

date

shall

be

invested

during

the

following

month

unless

there

are

more

than

days

until

the

next

investment

date,

in

which

case

such

payment

will

be

returned

to

the

participant.

Equiniti

shall

return

to

the

participant

his

or

her

entire

voluntary

cash

payment

upon

written

notice

of

withdrawal

received

by

Equiniti

not

less

than

hours

before

such

payment

is

to

be

invested.

Such

written

notice

shall

be

sent

to

Equiniti

by

the

participant,

as

discussed

below

in

paragraph

14. 5. For

all

purposes

of

the

Plan:

(a) the

market

price

of

the

Fund's

shares

on

a

particular

date

shall

be

the

last

sale

price

on

the

New

York

Stock

Exchange

on

that

date

if

a

business

day

and

if

not,

on

the

preceding

business

day,

or

if

there

is

no

sale

on

such

Exchange

on

such

date,

then

the

mean

between

the

closing

bid

and

asked

quotations

for

such

shares

on

such

Exchange

on

such

date,

and

(b) net

asset

value

per

share

of

the

Fund's

shares

on

a

particular

date

shall

be

as

determined

by

or

on

behalf

of

the

Fund.

franklintempleton.com

Semiannual

Report

#### TERMS

#### AND

#### CONDITIONS

#### OF

#### DIVIDEND

#### REINVESTMENT

#### AND

#### CASH

#### PURCHASE

#### PLAN
(continued)

6. Open

market

purchases

provided

for

above

may

be

made

on

any

securities

exchange

where

Fund

shares

are

traded,

in

the

over-the-counter

market

or

in

negotiated

transactions

and

may

be

on

such

terms

as

to

price,

delivery

and

otherwise

as

Equiniti

shall

determine.

Participant

funds

held

by

Equiniti

uninvested

will

not

bear

interest,

and

it

is

understood

that,

in

any

event,

Equiniti

shall

have

no

liability

in

connection

with

any

inability

to

purchase

Fund

shares

within

business

days

after

the

payable

date

for

any

dividend

or

distribution

as

herein

provided,

or

with

the

timing

of

any

purchases

effected.

Equiniti

shall

have

no

responsibility

as

to

the

value

of

the

Fund

shares

acquired

for

participant

accounts.

For

the

purposes

of

purchases

in

the

open

market,

Equiniti

may

aggregate

purchases

with

those

of

other

participants,

and

the

average

price

(including

trading

fees)

of

all

shares

purchased

by

Equiniti

shall

be

the

price

per

share

allocable

to

all

participants.

7. Equiniti

will

hold

shares

acquired

pursuant

to

this

Plan,

together

with

the

shares

of

other

participants

acquired

pursuant

to

this

Plan,

in

its

name

or

that

of

its

nominee.

Equiniti

will

forward

to

participants

any

proxy

solicitation

material

and

will

vote

any

shares

so

held

for

participants

only

in

accordance

with

the

proxies

returned

by

participants

to

the

Fund.

Upon

written

request,

Equiniti

will

deliver

to

participants,

without

charge,

a

certificate

or

certificates

for

all

or

a

portion

of

the

full

shares

held

by

Equiniti.

8. Equiniti

will

confirm

to

participants

each

acquisition

made

for

an

account

as

soon

as

practicable

but

not

later

than

business

days

after

the

date

thereof.

Equiniti

will

send

to

participants

a

detailed

account

statement

showing

total

dividends

and

distributions,

date

of

investment,

shares

acquired

and

price

per

share,

and

total

shares

of

record

for

the

account.

Although

participants

may

from

time

to

time

have

an

undivided

fractional

interest

(computed

to

three

decimal

places)

in

a

share

of

the

Fund,

no

certificates

for

a

fractional

share

will

be

issued.

However,

dividends

and

distributions

on

fractional

shares

will

be

credited

to

participant

accounts.

In

the

event

of

termination

of

an

account

under

the

Plan,

Equiniti

will

adjust

for

any

such

undivided

fractional

interest

in

cash

at

the

market

price

of

the

Fund's

shares

on

the

date

of

termination.

9. Any

share

dividends

or

split

shares

distributed

by

the

Fund

on

shares

held

by

Equiniti

for

participants

will

be

credited

to

participant

accounts.

In

the

event

that

the

Fund

makes

available

to

its

shareholders

transferable

rights

to

purchase

additional

Fund

shares

or

other

securities,

Equiniti

will

sell

such

rights

and

apply

the

proceeds

of

the

sale

to

the

purchase

of

additional

Fund

shares

for

the

participant

accounts.

The

shares

held

for

participants

under

the

Plan

will

be

added

to

underlying

shares

held

by

participants

in

calculating

the

number

of

rights

to

be

issued.

10. Equiniti's

service

charge

for

capital

gains

or

income

dividend

purchases

will

be

paid

by

the

Fund

when

shares

are

issued

by

the

Fund

or

purchased

on

the

open

market.

Equiniti

will

deduct

a

$5.00

service

charge

from

each

voluntary

cash

payment.

Participants

will

be

charged

a

pro

rata

share

of

trading

fees

on

all

open

market

purchases.

11. Participants

may

withdraw

shares

from

such

participant's

account

or

terminate

their

participation

under

the

Plan

by

notifying

Equiniti

in

writing.

Such

withdrawal

or

termination

will

be

effective

immediately

if

notice

is

received

by

Equiniti

not

less

than

ten

days

prior

to

any

dividend

or

distribution

record

date;

otherwise

such

withdrawal

or

termination

will

be

effective

after

the

investment

of

any

current

dividend

or

distribution

or

voluntary

cash

payment.

The

Plan

may

be

terminated

by

Equiniti

or

the

Fund

upon

days'

notice

in

writing

mailed

to

participants.

Upon

any

withdrawal

or

termination,

Equiniti

will

cause

a

certificate

or

certificates

for

the

full

shares

held

by

Equiniti

for

participants

and

cash

adjustment

for

any

fractional

shares

(valued

at

the

market

value

of

the

shares

at

the

time

of

withdrawal

or

termination)

to

be

delivered

to

participants,

less

any

trading

fees.

Alternatively,

a

participant

may

elect

by

written

notice

to

Equiniti

to

have

Equiniti

sell

part

or

all

of

the

shares

held

for

him

and

to

remit

the

proceeds

to

him.

Equiniti

is

authorized

to

deduct

a

$15.00

service

charge

and

a

trading

fee

of

$0.12

per

share

for

this

transaction

from

the

proceeds.

If

a

participant

disposes

of

all

shares

registered

in

his

name

on

the

books

of

the

Fund,

Equiniti

may,

at

its

option,

terminate

the

participant's

account

or

determine

from

the

participant

whether

he

wishes

to

continue

his

participation

in

the

Plan.

12. These

terms

and

conditions

may

be

amended

or

supplemented

by

Equiniti

or

the

Fund

at

any

time

or

times,

except

when

necessary

or

appropriate

to

comply

with

applicable

law

or

the

rules

or

policies

of

the

U.S.

Securities

and

Exchange

Commission

or

any

other

regulatory

authority,

only

by

mailing

to

participants

appropriate

written

notice

at

least

days

prior

to

the

effective

date

thereof.

The

amendment

or

supplement

shall

be

deemed

to

be

accepted

by

participants

unless,

prior

to

the

effective

date

thereof,

Equiniti

receives

written

notice

of

the

termination

of

a

participant

account

under

the

Plan.

Any

such

amendment

franklintempleton.com

Semiannual

Report

#### TERMS

#### AND

#### CONDITIONS

#### OF

#### DIVIDEND

#### REINVESTMENT

#### AND

#### CASH

#### PURCHASE

#### PLAN
(continued)

may

include

an

appointment

by

Equiniti

in

its

place

and

stead

of

a

successor

Plan

Administrator

under

these

terms

and

conditions,

with

full

power

and

authority

to

perform

all

or

any

of

the

acts

to

be

performed

by

Equiniti

under

these

terms

and

conditions.

Upon

any

such

appointment

of

a

Plan

Administrator

for

the

purpose

of

receiving

dividends

and

distributions,

the

Fund

will

be

authorized

to

pay

to

such

successor

Plan

Administrator,

for

a

participant's

account,

all

dividends

and

distributions

payable

on

Fund

shares

held

in

a

participant's

name

or

under

the

Plan

for

retention

or

application

by

such

successor

Plan

Administrator

as

provided

in

these

terms

and

conditions.

13. Equiniti

shall

at

all

times

act

in

good

faith

and

agree

to

use

its

best

efforts

within

reasonable

limits

to

ensure

the

accuracy

of

all

services

performed

under

this

Agreement

and

to

comply

with

applicable

law,

but

shall

assume

no

responsibility

and

shall

not

be

liable

for

loss

or

damage

due

to

errors

unless

such

error

is

caused

by

Equiniti's

negligence,

bad

faith

or

willful

misconduct

or

that

of

its

employees.

14. Any

notice,

instruction,

request

or

election

which

by

any

provision

of

the

Plan

is

required

or

permitted

to

be

given

or

made

by

the

participant

to

Equiniti

shall

be

in

writing

addressed

to

Equiniti

Trust

Company,

LLC,

P.O.

Box

922,

Wall

Street

Station,

New

York,

NY

10269-0560,

or

www.

equiniti.com

or

such

other

address

as

Equiniti

shall

furnish

to

the

participant,

and

shall

have

been

deemed

to

be

given

or

made

when

received

by

Equiniti.

15. Any

notice

or

other

communication

which

by

any

provision

of

the

Plan

is

required

to

be

given

by

Equiniti

to

the

participant

shall

be

in

writing

and

shall

be

deemed

to

have

been

sufficiently

given

for

all

purposes

by

being

deposited

postage

prepaid

in

a

post

office

letter

box

addressed

to

the

participant

at

his

or

her

address

as

it

shall

last

appear

on

Equiniti's

records.

The

participant

agrees

to

notify

Equiniti

promptly

of

any

change

of

address.

16. These

terms

and

conditions

shall

be

governed

by

and

construed

in

accordance

with

the

laws

of

the

State

of

New

York

and

the

rules

and

regulations

of

the

U.S.

Securities

and

Exchange

Commission,

as

they

may

be

amended

from

time

to

time.

TLTEI

S

08/25©

2025

Franklin

Templeton

Investments.

All

rights

reserved.

Investors

should

be

aware

that

the

value

of

investments

made

for

the

Fund

may

go

down

as

well

as

up.

Like

any

investment

in

securities,

the

value

of

the

Fund's

portfolio

will

be

subject

to

the

risk

of

loss

from

market,

currency,

economic,

political

and

other

factors.

The

Fund

and

its

investors

are

not

protected

from

such

losses

by

the

investment

manager.

Therefore,

investors

who

cannot

accept

this

risk

should

not

invest

in

shares

of

the

Fund.

To

help

ensure

we

provide

you

with

quality

service,

all

calls

to

and

from

our

service

areas

are

monitored

and/or

recorded.

#### Semiannual

#### Report

#### Templeton

#### Emerging

#### Markets

#### Income

#### Fund

#### Investment

#### Manager

#### Transfer

#### Agent

#### Fund

#### Information
Franklin

Advisers,

Inc.

Equiniti

Trust

Company,

LLC

6201

15th

Avenue

Brooklyn,

NY

11219

Toll

Free

Number:

(800) 416-5585

Hearing

Impaired

Number:

(866) 703-9077

International

Phone

Number:

(718) 921-8124

www.equiniti.com

(800) DIAL

BEN®

/

342-5236

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

ITEM 2. CODE OF ETHICS.

Not applicable.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6. SCHEDULE OF INVESTMENTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item 1 of this Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

The information is disclosed as part of the Financial Statements included in Item 1 of this Form N-CSR, as applicable.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

---

| | |
|:---|:---|
| ITEM 15. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |

---

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees that would require disclosure herein.

ITEM 16. CONTROLS AND PROCEDURES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's chief executive officer and chief financial officer have concluded that the Registrant's disclosure controls
 and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the "1940 Act")) are effective
 as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their
 evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange
 Act of 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940
 Act) that occurred during the period covered by this report that have materially affected, or are likely to materially affect the Registrant's
 internal control over financial reporting.

ITEM 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Company.

Not applicable.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

ITEM 19. EXHIBITS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) (1) Not applicable.

Exhibit 99.CODE ETH

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(a) (2) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.](temif-efp17098_ex99cert.htm)

Exhibit 99.CERT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.](temif-efp17098_ex99906cert.htm)

Exhibit 99.906CERT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(c) Pursuant to the Securities and Exchange Commission's Order granting relief from Section 19(b) of the Investment Company Act of 1940, the 19(a) Notices to Beneficial Owners are attached hereto as Exhibit](temif-efp17098_ex99press.htm)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.

**Templeton Emerging Markets Income Fund**

---

| | |
|:---|:---|
| By: | /s/ Christopher Kings |
|  | Christopher Kings |
|  | Chief Executive Officer – Finance and Administration |
| Date: | August 26, 2025 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Christopher Kings |
|  | Christopher Kings |
|  | Chief Executive Officer – Finance and Administration |
| Date: | August 26, 2025 |

---

---

| | |
|:---|:---|
| By: | /s/ Jeffrey White |
|  | Jeffrey White |
|  | Chief Financial Officer, Chief Accounting Officer and Treasurer |
| Date: | August 26, 2025 |

---

## Ex-99.Cert

CERTIFICATIONS PURSUANT TO SECTION 302

EX-99.CERT

**<u>CERTIFICATIONS</u>**

I, Christopher Kings, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of **Templeton Emerging Markets Income Fund**;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officers and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

Date: August 26, 2025

---

| |
|:---|
| /s/ Christopher Kings |
| Christopher Kings |
| Executive Officer – Finance and Administration |

---

**<u>CERTIFICATIONS</u>**

I, Jeffrey White, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of **Templeton Emerging Markets Income Fund.**;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial information included in this report, and the financial statements
on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes
in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of,
and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period
covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officers and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are
reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
internal control over financial reporting.

Date: August 26, 2025

---

| |
|:---|
| /s/ Jeffrey White |
| Jeffrey White |
| Chief Financial Officer, Chief Accounting Officer and Treasurer |

---

## Exhibit 99.906

CERTIFICATIONS PURSUANT TO SECTION 906

EX-99.906CERT

**CERTIFICATION**

**Christopher Kings,** Chief Executive Officer – Finance and Administration, and **Jeffrey White,** Chief Financial Officer, Chief Accounting Officer and Treasurer of **Templeton Emerging Markets Income Fund.** (the "Registrant"), each certify to the best of their knowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Registrant's periodic report on Form N-CSR for the period ended **June 30, 2025** (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

---

| | |
|:---|:---|
| **Chief Executive Officer – <br>Finance and Administration** | **Chief Financial Officer, Chief <br>Accounting Officer and Treasurer** |
| Templeton Emerging Markets Income Fund | Templeton Emerging Markets Income Fund |
| /s/ Christopher Kings | /s/ Jeffrey White |
| Christopher Kings | Jeffrey White |
| Date: August 26, 2025 | Date: August 26, 2025 |

---

This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Commission.

## Ex-99.Press

**TEMPLETON EMERGING MARKETS INCOME FUND**

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

**FOR IMMEDIATE RELEASE:**

For more information, please contact Franklin Templeton at 1-800-342-5236.

**TEMPLETON EMERGING MARKETS INCOME FUND ("TEI" or the "Fund")** 

**ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS**

Fort Lauderdale, Florida, January 30, 2025.

Templeton Emerging Markets Income Fund [NYSE: TEI]<br>

<br> The Fund's estimated sources of the distribution to be paid on January 31, 2025, and for the fiscal year 2024 year-to-date are as follows:

Estimated Allocations for January Monthly Distribution as of December 31, 2024:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.0475  | &nbsp;&nbsp; $0.0475 (100%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) |

---

Cumulative Estimated Allocations fiscal year-to-date as of December 31, 2024, for the fiscal year ending December 31, 2024:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.5700  | &nbsp;&nbsp; $0.5421 (95%) | &nbsp;&nbsp; $0.0036 (1%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.0243 (4%) |

---

**Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Plan. TEI estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the TEI distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect TEI's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes.**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 12/31/2024)<sup>1</sup> | &nbsp;&nbsp; Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 12/31/2024)<sup>2</sup> | &nbsp;&nbsp;&nbsp; Cumulative Total Return (in relation to the change in NAV for the fiscal period through 12/31/2024)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp; Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 12/31/2024)<sup>4</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -2.50% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.09% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.47% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.09% |

---

**Fund Performance and Distribution Rate Information:<br>** 

<br> **1.

&nbsp;&nbsp;&nbsp;&nbsp;** 

**Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through December 31, 2024. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.**

**2. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV through December 31, 2024.**

**3. &nbsp;&nbsp;&nbsp;&nbsp;** 

**Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2023 through December 31, 2024, assuming reinvestment of distributions paid.**

**4. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2023 through December 31, 2024, as a percentage of the Fund's NAV as of December 31, 2024.**

The Fund's Board of Trustees (the "Board") has authorized a managed distribution plan (the "Plan") pursuant to which the Fund makes monthly distributions to shareholders at the fixed rate of $0.0475 per share. The Plan is intended to provide shareholders with consistent distributions each month and is intended to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund's investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made.

**For further information on Templeton Global Income Fund, please visit our web site at:

www.franklintempleton.com**

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and over $1.6 trillion in assets under management as of December 31, 2024. For more information, please visit franklintempleton.com.

#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #

**TEMPLETON EMERGING MARKETS INCOME FUND**

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

**FOR IMMEDIATE RELEASE:**

For more information, please contact Franklin Templeton at 1-800-342-5236.

**TEMPLETON EMERGING MARKETS INCOME FUND ("TEI" or the "Fund")** 

**ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS**

Fort Lauderdale, Florida, February 27, 2025. Templeton Emerging Markets Income Fund [NYSE: TEI]<br>

<br> The Fund's estimated sources of the distribution to be paid on February 28, 2025, and for the fiscal year 2025 year-to-date are as follows:

Estimated Allocations for February Monthly Distribution as of January 31, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.0475  | &nbsp;&nbsp; $0.0475 (100%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) |

---

Cumulative Estimated Allocations fiscal year-to-date as of January 31, 2025, for the fiscal year ending December 31, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.0475  | &nbsp;&nbsp; $0.0475 (100%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) |

---

**Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Plan. TEI estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the TEI distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect TEI's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes.**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 1/31/2025)<sup>1</sup> | &nbsp;&nbsp; Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 1/31/2025)<sup>2</sup> | &nbsp;&nbsp;&nbsp; Cumulative Total Return (in relation to the change in NAV for the fiscal period through 1/31/2025)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp; Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 1/31/2025)<sup>4</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -1.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.81% |

---

**Fund Performance and Distribution Rate Information:<br>** 

<br> **1.

&nbsp;&nbsp;&nbsp;&nbsp;** 

**Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through January 31, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.**

**2. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV through January 31, 2025.**

**3. &nbsp;&nbsp;&nbsp;&nbsp;** 

**Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2024 through January 31, 2025, assuming reinvestment of distributions paid.**

**4. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2024 through January 31, 2025, as a percentage of the Fund's NAV as of January 31, 2025.**

<br> The Fund's Board of Trustees (the "Board") has authorized a managed distribution plan (the "Plan") pursuant to which the Fund makes monthly distributions to shareholders at the fixed rate of $0.0475 per share. The Plan is intended to provide shareholders with consistent distributions each month and is intended to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund's investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years. <br>

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made.<br>

**For further information on Templeton Emerging Markets Income Fund, please visit our web site at:

www.franklintempleton.com**

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.58 trillion in assets under management as of January 31, 2025. For more information, please visit franklintempleton.com.

#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #

**TEMPLETON EMERGING MARKETS INCOME FUND**

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

**FOR IMMEDIATE RELEASE:**

For more information, please contact Franklin Templeton at 1-800-342-5236.

**TEMPLETON EMERGING MARKETS INCOME FUND ("TEI" or the "Fund")** 

**ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS**

Fort Lauderdale, Florida, March 28, 2025. Templeton Emerging Markets Income Fund [NYSE: TEI]<br>

<br> he Fund's estimated sources of the distribution to be paid on March 31, 2025, and for the fiscal year 2025 year-to-date are as follows:

Estimated Allocations for March Monthly Distribution as of February 28, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.0475  | &nbsp;&nbsp; $0.0475 (100%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) |

---

Cumulative Estimated Allocations fiscal year-to-date as of February 28, 2025, for the fiscal year ending December 31, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.0950  | &nbsp;&nbsp; $0.0950 (100%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) |

---

<br>**Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Plan. TEI estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the TEI distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect TEI's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes.<br>** 

<br> ---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 2/28/2025)<sup>1</sup> | &nbsp;&nbsp; Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 2/28/2025)<sup>2</sup> | &nbsp;&nbsp;&nbsp; Cumulative Total Return (in relation to the change in NAV for the fiscal period through 2/28/2025)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp; Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 2/28/2025)<sup>4</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -1.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.88% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.80% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65% |

---

**Fund Performance and Distribution Rate Information:<br>** 

<br> **1.

&nbsp;&nbsp;&nbsp;&nbsp;** 

**Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through February 28, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.**

**2. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV through February 28, 2025.**

**3. &nbsp;&nbsp;&nbsp;&nbsp;** 

**Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2024 through February 28, 2025, assuming reinvestment of distributions paid.**

**4. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2024 through February 28, 2025, as a percentage of the Fund's NAV as of February 28, 2025.**

<br> The Fund's Board of Trustees (the "Board") has authorized a managed distribution plan (the "Plan") pursuant to which the Fund makes monthly distributions to shareholders at the fixed rate of $0.0475 per share. The Plan is intended to provide shareholders with consistent distributions each month and is intended to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund's investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made.

**For further information on Templeton Emerging Markets Income Fund, please visit our web site at:

www.franklintempleton.com**

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.58 trillion in assets under management as of February 28, 2025. For more information, please visit franklintempleton.com.

#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #

**TEMPLETON EMERGING MARKETS INCOME FUND**

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

**FOR IMMEDIATE RELEASE:**

For more information, please contact Franklin Templeton at 1-800-342-5236.

**TEMPLETON EMERGING MARKETS INCOME FUND ("TEI" or the "Fund")** 

**ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS**

Fort Lauderdale, Florida, April 29, 2025. Templeton Emerging Markets Income Fund [NYSE: TEI]<br>

<br> The Fund's estimated sources of the distribution to be paid on April 30, 2025, and for the fiscal year 2025 year-to-date are as follows:

Estimated Allocations for April Monthly Distribution as of March 31, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.0475  | &nbsp;&nbsp; $0.0405 (85%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.0070 (15%) |

---

Cumulative Estimated Allocations fiscal year-to-date as of March 31, 2025, for the fiscal year ending December 31, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.1425  | &nbsp;&nbsp; $0.1425 (100%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) |

---

**<br> Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Plan. TEI estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the TEI distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect TEI's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes.**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 3/31/2025)<sup>1</sup> | &nbsp;&nbsp; Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 3/31/2025)<sup>2</sup> | &nbsp;&nbsp;&nbsp; Cumulative Total Return (in relation to the change in NAV for the fiscal period through 3/31/2025)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp; Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 3/31/2025)<sup>4</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.66% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.91% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.48% |

---

**Fund Performance and Distribution Rate Information:<br>** 

<br> **1.

&nbsp;&nbsp;&nbsp;&nbsp;** 

**Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through March 31, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.**

**2. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV through March 31, 2025.**

**3. &nbsp;&nbsp;&nbsp;&nbsp;** 

**Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2024 through March 31, 2025, assuming reinvestment of distributions paid.**

**4. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2024 through March 31, 2025, as a percentage of the Fund's NAV as of March 31, 2025.**

<br> The Fund's Board of Trustees (the "Board") has authorized a managed distribution plan (the "Plan") pursuant to which the Fund makes monthly distributions to shareholders at the fixed rate of $0.0475 per share. The Plan is intended to provide shareholders with consistent distributions each month and is intended to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund's investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made.

**For further information on Templeton Emerging Markets Income Fund, please visit our web site at:

www.franklintempleton.com**

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.53 trillion in assets under management as of March 31, 2025. For more information, please visit franklintempleton.com.

#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #

**TEMPLETON EMERGING MARKETS INCOME FUND**

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

**FOR IMMEDIATE RELEASE:**

For more information, please contact Franklin Templeton at 1-800-342-5236.

**TEMPLETON EMERGING MARKETS INCOME FUND ("TEI" or the "Fund")** 

**ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS**

Fort Lauderdale, Florida, May 29, 2025. Templeton Emerging Markets Income Fund [NYSE: TEI]<br>

<br> The Fund's estimated sources of the distribution to be paid on May 30, 2025, and for the fiscal year 2025 year-to-date are as follows:

Estimated Allocations for May Monthly Distribution as of April 30, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.0475  | &nbsp;&nbsp; $0.0475 (100%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) |

---

Cumulative Estimated Allocations fiscal year-to-date as of April 30, 2025, for the fiscal year ending December 31, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.1900  | &nbsp;&nbsp; $0.1830 (96%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.0070 (4%) |

---

**<br> Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Plan. TEI estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the TEI distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect TEI's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes.**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 4/30/2025)<sup>1</sup> | &nbsp;&nbsp; Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 4/30/2025)<sup>2</sup> | &nbsp;&nbsp;&nbsp; Cumulative Total Return (in relation to the change in NAV for the fiscal period through 4/30/2025)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp; Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 4/30/2025)<sup>4</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.74% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.97% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25% |

---

**Fund Performance and Distribution Rate Information:<br>** 

<br> **1.

&nbsp;&nbsp;&nbsp;&nbsp;** 

**Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through April 30, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.**

**2. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV through April 30, 2025.**

**3. &nbsp;&nbsp;&nbsp;&nbsp;** 

**Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2024 through April 30, 2025, assuming reinvestment of distributions paid.**

**4. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2024 through April 30, 2025, as a percentage of the Fund's NAV as of April 30, 2025.**

<br> The Fund's Board of Trustees (the "Board") has authorized a managed distribution plan (the "Plan") pursuant to which the Fund makes monthly distributions to shareholders at the fixed rate of $0.0475 per share. The Plan is intended to provide shareholders with consistent distributions each month and is intended to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund's investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years. <br>

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made.<br>

**For further information on Templeton Emerging Markets Income Fund, please visit our web site at:

www.franklintempleton.com**

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.53 trillion in assets under management as of April 30, 2025. For more information, please visit franklintempleton.com.

#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #

**TEMPLETON EMERGING MARKETS INCOME FUND**

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

**FOR IMMEDIATE RELEASE:**

For more information, please contact Franklin Templeton at 1-800-342-5236.

**TEMPLETON EMERGING MARKETS INCOME FUND ("TEI" or the "Fund")** 

**ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS**

Fort Lauderdale, Florida, June 27, 2025. Templeton Emerging Markets Income Fund [NYSE: TEI]<br>

<br> The Fund's estimated sources of the distribution to be paid on June 30, 2025, and for the fiscal year 2025 year-to-date are as follows:

Estimated Allocations for June Monthly Distribution as of May 31, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.0475  | &nbsp;&nbsp; $0.0361 (76%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.0114 (24%) |

---

Cumulative Estimated Allocations fiscal year-to-date as of May 31, 2025, for the fiscal year ending December 31, 2025:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; Distribution <br> Per Share  | &nbsp;&nbsp; Net Investment <br> Income  | &nbsp;&nbsp; Net Realized <br> Short-Term Capital<br> Gains  | &nbsp;&nbsp; Net Realized <br> Long-Term Capital<br> Gains  | &nbsp;&nbsp; Return of Capital  |
| &nbsp;&nbsp; $0.2375  | &nbsp;&nbsp; $0.2305 (97%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.00 (0%) | &nbsp;&nbsp; $0.0070 (3%) |

---

**<br> Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Plan. TEI estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the TEI distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect TEI's investment performance and should not be confused with 'yield' or 'income'. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund's distributions for federal income tax purposes.<br>** 

<br> ---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 5/31/2025)<sup>1</sup> | &nbsp;&nbsp; Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 5/31/2025)<sup>2</sup> | &nbsp;&nbsp;&nbsp; Cumulative Total Return (in relation to the change in NAV for the fiscal period through 5/31/2025)<sup>3</sup> | &nbsp;&nbsp;&nbsp;&nbsp; Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 5/31/2025)<sup>4</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.39% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.86% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.91% |

---

**Fund Performance and Distribution Rate Information:<br>** 

<br> **1.

&nbsp;&nbsp;&nbsp;&nbsp;** 

**Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through May 31, 2025. Annual NAV Total Return is the percentage change in the Fund's NAV over a year, assuming reinvestment of distributions paid.**

**2. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Annualized Distribution Rate is the current fiscal period's distribution rate annualized as a percentage of the Fund's NAV through May 31, 2025.**

**3. &nbsp;&nbsp;&nbsp;&nbsp;** 

**Cumulative Total Return is the percentage change in the Fund's NAV from December 31, 2024 through May 31, 2025, assuming reinvestment of distributions paid.**

**4. &nbsp;&nbsp;&nbsp;&nbsp;** 

**The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2024 through May 31, 2025, as a percentage of the Fund's NAV as of May 31, 2025.**

<br> The Fund's Board of Trustees (the "Board") has authorized a managed distribution plan (the "Plan") pursuant to which the Fund makes monthly distributions to shareholders at the fixed rate of $0.0475 per share. The Plan is intended to provide shareholders with consistent distributions each month and is intended to narrow the discount between the market price and the net asset value ("NAV") of the Fund's common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund's investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund's shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund's common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the fixed rate to determine if an adjustment should be made.

**For further information on Templeton Emerging Markets Income Fund, please visit our web site at:

www.franklintempleton.com**

Franklin Resources, Inc. is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.57 trillion in assets under management as of May 31, 2025. For more information, please visit franklintempleton.com.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;