Western Asset Corporate Loan Fund Announces Results of 2020 Annual Meeting of Stockholders

Nisha Kumar, Eileen A. Kamerick and Daniel P. Cronin Will Continue to Serve on the Board

NEW YORK--(BUSINESS WIRE)--Western Asset Corporate Loan Fund Inc. (NYSE: TLI) (the “Fund”) today announced that, based on certified voting results from the Fund’s 2020 Annual Meeting of Stockholders (the “Annual Meeting”), the Fund’s incumbent directors, Nisha Kumar, Eileen A. Kamerick and Daniel P. Cronin, received more votes than any other director candidates. However, no director nominee received sufficient votes to be elected under the Fund’s bylaws and as such the Fund’s incumbent directors will continue to serve on the Board.

The Fund issued the following statement:

The Western Asset Corporate Loan Fund Board and management team thank our stockholders for their strong support and participation throughout this process. We appreciate that stockholders recognize that the Fund’s Board has the right experience, skills and diversity to continue to act in the best interests of all stockholders. We look forward to continuing to build on our track record of delivering strong total returns and consistent distributions to stockholders.

The certified results also confirm that stockholders have voted to approve a Non-Binding Bylaws Amendment Proposal. The Fund’s Board of Directors will take the Non-Binding Bylaws Amendment Proposal into consideration.

The final votes have been certified by First Coast Results, Inc., the independent Inspector of Election.

About Western Asset Corporate Loan Fund Inc.

Western Asset Corporate Loan Fund Inc., a non-diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, a wholly-owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the investment manager.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.

Forward Looking Statement

Past performance is no guarantee of future results. The information provided is not intended to be a forecast of future events, a guarantee of future results or investment advice.

All investments are subject to risk including the possible loss of principal. All benchmark performance reflects no deduction for fees, expenses or taxes. Please note that an investor cannot invest directly in a benchmark.