LEGG MASON FAMILY OF FUNDS NON-SPOUSE, TRUST, ESTATE OR ENTITY BENEFICIARY IRA INHERITANCE REQUEST FORM

If you have any questions, please call Shareholder Services at 1-800-822-5544 Monday through Friday, 8:00 am - 5:30 pm (ET)

1 ORIGINAL IRA OWNER’S INFORMATION The following IRA owner is deceased and I am requesting that you transfer ownership of the inherited proceeds.

Original IRA Owner’s Account Number

 Roth IRA  *Traditional / SEP / SIMPLE IRA

Original IRA Owner’s Full Name Birth Date Death Date Check all that apply:

 Death Certificate is attached  Death Certificate was provided under separate cover

 Affidavit of Domicile (“AOD”) is attached  AOD was provided under separate cover

 If applicable, an Inheritance Tax Waiver is attached

Surviving Spouse, if identified on the Death Certificate *For Traditional, SEP and SIMPLE IRAs - If the IRA owner was subject to required minimum distributions (RMD) payout [age 70 ½ or older], we will distribute any remaining RMD amounts due to the owner for the year of death, as a single distribution payable to the beneficiary(ies) name and Social Security Number (or Tax ID) as required by the Internal Revenue Service (IRS). 2 BENEFICIARY INFORMATION In my capacity as indicated below, I am requesting the proceeds from the owner’s IRA be transferred in accordance with the IRA owner’s beneficiary designation; or if no beneficiary is designated, under the terms of the beneficiary default provisions (spouse, or if no surviving spouse then the estate) and subsequently transferred into an Inherited IRA or liquidated, as instructed below. If you are a spouse beneficiary please complete the Spouse Beneficiary – IRA Inheritance Request Form. (please print)

First Name Middle Initial Last Name

 NON-SPOUSE (NATURAL PERSON) BENEFICIARY (including beneficiary under small estate waiver)

Social Security Number: ______

 EXECUTOR OR PERSONAL REPRESENTATIVE FOR THE ESTATE

Name of Estate Estate’s Tax ID (decedent’s Social Security Number is not valid**)

 RESPONSIBLE INDIVIDUAL ON BEHALF OF A MINOR BENEFICIARY

Responsible Adult Name (First, Middle Initial, Last)

Social Security Number Date of Birth

Minor’s Name (First, Middle Initial, Last) Social Security Number Date of Birth

© 2020 Legg Mason Investor Services, LLC, distributor. Member FINRA, SIPC. Legg Mason Investor Services, LLC is an indirect, wholly-owned subsidiary of Franklin Resources, Inc. LMFX016691 10/20  TRUSTEE(S) OF THE NAMED TRUST BENEFICIARY

Trustee(s) Name (First, Middle Initial, Last) Trust’s Tax ID (decedent’s Social Security Number is not valid**)

Trust Registration Date of Trust

 OTHER: (SUCH AS CHARITABLE ORGANIZATION OR FOUNDATION)

Entity Entity’s Tax ID (decedent’s Social Security Number is not valid**) IMPORTANT: INHERITANCE ELECTION (Page 2) - If you are requesting the beneficiary proceeds be transferred to an inherited IRA for life expectancy, systematic, partial or future year distributions, please complete the LEGG MASON FUNDS NON- SPOUSE, TRUST, ESTATE OR ENTITY INHERITED IRA ACCOUNT APPLICATION AND ADOPTION AGREEMENT. Proceeds will be transferred into the same investment fund(s). (Exchange privileges are available once the transfer is complete.) **Refer to IRS Form SS-4 – Application for Employer Identification Number 3 INHERITANCE ELECTION Select One:  LIQUIDATE IN FULL (entire balance) - All distribution checks are issued in the name and tax ID of the non-spouse beneficiary, trust, estate or entity. Distributions will not be made payable to the underlying separate beneficiaries of a trust or estate or paid to third parties. Complete IRS Form W-9 in Section 6. Proceed to LIQUIDATION INSTRUCTIONS AND TAX WITHHOLDING ELECTION sections 4 and 5.  ESTABLISH AN INHERITED IRA ACCOUNT with the attached application for the purposes of maintaining the inherited proceeds for life expectancy, systematic, partial or future year inheritance distributions (IRS Form 1099-R, under Code 4 - death distribution). Please complete and attach a LEGG MASON FUNDS NON-SPOUSE, TRUST, ESTATE OR ENTITIY INHERITED IRA ACCOUNT APPLICATION AND ADOPTION AGREEMENT. The inherited proceeds will be transferred into the same investment fund(s). (Exchange privileges are available once the transfer is complete.) Note: To establish required minimum life expectancy distributions, also complete the LEGG MASON FUNDS INHERITED IRA DISTRIBUTION REQUEST FORM. 4 LIQUIDATION INSTRUCTIONS  Mail to the following address (please print):______ Electronic Funds Transfer - to a bank or credit union account (attach a voided check) Bank Routing Number: ______Bank Account Number: ______ Checking  Savings 5 TAX WITHHOLDING ELECTION Federal Tax Withholding Election Generally, IRA distributions are subject to 10% withholding unless you elect to have an additional amount withheld or elect to have no withholding. Please make a withholding election by selecting one of the options below.

 Do not withhold Federal Income Tax

 Withhold 10% Federal Income Tax

 Withhold ______% Federal Income Tax (must be greater than 10%) Caution: If you elect not to have Federal Income Tax withheld, you are liable for payment of Federal Income Tax on the taxable portion of your distribution. You also may be subject to tax penalties under the estimated tax payment rules if your payments of estimated tax and withholding are not adequate.

Non-Spouse, Trust, Estate or Entity Beneficiary IRA Inheritance Request 2 State Withholding Your state of residence will determine your state income tax withholding requirements, if any. Those states with mandatory withholding will require state income tax to be withheld from payments if federal taxes are withheld or may mandate a fixed amount regardless of your federal tax election. Voluntary states let individuals determine whether they want state taxes withheld. Some states have no income tax on retirement payments. You may wish to consult with a tax advisor or your state’s tax authority for additional information on your state requirements.

 I elect TO NOT have state income tax withheld from my retirement account distributions (only for residents of states that do not require mandatory state tax withholding).

 I elect TO have the following dollar amount or percentage from my retirement account distribution withheld for state income taxes (for residents of states that allow voluntary state tax withholding).

$ ______or ______%

6 SIGNATURE (REQUIRED) IMPORTANT Tax Certification (Substitute W-9)

Exemptions (see instructions)

Exempt payee code (if any)______Exemption from FATCA reporting code (if any)______I understand that federal law requires financial institutions to obtain, verify and record information that identifies each person or entity that opens a new account. Account owners are asked to provide their names, addresses, dates of birth (if applicable) and other information, which may include driver’s license numbers or other identification numbers, so that the institution can accurately verify their identity. If the firm is unable to verify a client’s identity within a reasonable time after the account opening, the firm may restrict or close the account. Under penalties of perjury, I certify that: 1. The number shown on this form is my correct taxpayer identification number (or I am waiting for a number to be issued and will provide the number to the fund as soon as it is issued), and 2. I am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has notified me that I am no longer subject to backup withholding, and 3. I am a U.S. person (including a U.S. resident alien). 4. The FATCA code(s) entered on this form (if any) indicating that I am exempt from FATCA reporting is correct. Certification Instructions: Strike through item 2 above if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. If a real estate transaction, no requirement to complete item 2. For mortgage interest paid, acquisition or abandonment of secured property, cancellation of debt, contributions to an individual retirement arrangement (IRA), and generally, payments other than interest and dividends, you are not required to sign the certification, but you must provide your correct TIN. If you are subject to backup withholding, check the box in front of the following statement. q I have been notified by the IRS that I am subject to backup withholding.

The IRS does not require your consent to any provision of this document other than the certifications required to avoid backup withholding.

Signature (s) Beneficiary, Executor, Responsible Individual, Trustee(s) or Authorized Representative Date

Non-Spouse, Trust, Estate or Entity Beneficiary IRA Inheritance Request 3 *MEDALLION STAMP IS REQUIRED TO TRANSFER OWNERSHIP In the event of a fund merger or reorganization, I hereby authorize that all fund features that I have previously authorized for *Medallionmy account shallGuarantee automatically convert to my new account in the new fund and remain in full force and effect until I notify Legg BeneficiaryMason of my revocationcapacity is in maintainedwriting. I understand by the custodian that any as such part notification of the original shall IRA be owner’seffective accountonly with records respect andto entries the guarantor initiated isafter not receipt certifying of such the notificationbeneficiary andstatus. only after Legg Mason has had sufficient time to act on such notification. Medallion Signature Guarantee Stamp and Signature (If required by your current custodian or transfer agent): An eligible guarantor is a domestic bank or trust company, securities broker/dealer, clearing agency or savings association that participates in a medallion program recognized by the Securities Transfer Agents Association. The three recognized medallion programs are the Securities Transfer Agents Medallion Program (known as STAMP), Stock Exchanges Medallion Program (SEMP), and the Medallion Signature Program (MSP). A notarization from a notary public is NOT an acceptable substitute for a signature guarantee. Medallion Signature Guarantees must be original and mailed to the address indicated on this form. Faxes will not be accepted. Medallion Signature Guarantee Stamp HERE.

MEDALLION SIGNATURE GUARANTEE STAMP

CONTACT INFORMATION (INCLUDING CUSTOMER COMPLAINTS) Mail: Postal address Overnight carrier address Legg Mason Funds Legg Mason Funds P.O. Box 9699 4400 Computer Drive Providence, RI 02940-9699 Westborough, MA 01581 Phone: To speak with an investment professional regarding any of our funds, please call toll-free: 1-800-822-5544, Monday through Friday, 8:00 am – 5:30 pm (ET) Fax: 1-508-599-4186

TeleFund: To access our telephone account management service, please call toll-free: 1-877-6LMFUNDS (1-877-656-3863) Internet: www.leggmason.com

An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing. For a free prospectus, which contains this and other information on any Legg Mason Fund, visit www.leggmason.com. An investor should read the prospectus carefully before investing.

© 2020 Legg Mason Investor Services, LLC, Member FINRA, SIPC IRA Distribution Request Form 1 LMFX016691 10/20 Non-Spouse, Trust, Estate or Entity Beneficiary IRA Inheritance Request 4 LEGG MASON FUNDS CCPA PRIVACY POLICY

Your Privacy and the Security of Your Personal Information is Very Important to the Legg Mason Funds Although much of the personal information we collect is “nonpublic personal information” subject to federal law, residents of California may, in certain circumstances, have additional rights under the California Consumer Privacy Act (“CCPA”). If you are a broker, dealer, agent, fiduciary, or representative acting by or on behalf of, or for, the account of any other person(s) or household, or a financial professional, or if you have otherwise provided personal information to us separate from the relationship we have with consumers, the provisions of this Privacy Notice apply to your personal information (as defined by the CCPA). The Legg Mason Funds include any funds sold by the Funds’ distributor, Legg Mason Investor Services, LLC, as well as Legg Mason-sponsored closed-end funds. The provisions of this Privacy Notice apply to your information both while you are a shareholder and after you are no longer invested with the Funds. The Categories of Nonpublic Personal Information the Funds Collect About You The Funds collect and maintain nonpublic personal information about you in connection with shareholder accounts. Such information may include, but is not limited to: • Personal information included on applications or other forms; • Online account access user IDs, passwords, security challenge question responses; and • Information regarding how you use and interact with the Funds websites, used to protect the security of our websites, prevent fraud, and understand how you and others interact with and use the websites. How the Funds Use the Categories of Nonpublic Personal Information About You and Who We Share It With The Funds do not sell or share your nonpublic personal information with third parties or with affiliates for their marketing purposes, or with other financial institutions or affiliates for joint marketing purposes, unless you have authorized the Funds to do so. The Funds do not disclose any nonpublic personal information about you except as may be required to perform transactions or services you have authorized or as permitted or required by law. The Funds may disclose information about you to: • Employees, agents, and affiliates on a “need to know” basis to enable the Funds to conduct ordinary business or to comply with obligations to government regulators; • Service providers, including the Funds’ affiliates, who assist the Funds as part of the ordinary course of business (such as printing, mailing services, or processing or servicing your account with us) or otherwise perform services on the Funds’ behalf, including companies that may perform statistical analysis, market research and marketing services solely for the Funds; • Permit access to transfer, whether in the United States or countries outside of the United States to such Funds’ employees, agents and affiliates and service providers as required to enable the Funds to conduct ordinary business, or to comply with obligations to government regulators; • The Funds’ representatives such as legal counsel, accountants and auditors to enable the Funds to conduct ordinary business, or to comply with obligations to government regulators; • Fiduciaries or representatives acting on your behalf, such as an IRA custodian or trustee of a grantor trust; • Service providers who manage our websites and provide analytics to us; or • To comply with any applicable legal and/or regulatory requirements and any recordkeeping obligations. The Funds may disclose nonpublic personal information about you when necessary to enforce their rights or protect against fraud, or as permitted or required by applicable law, such as in connection with a law enforcement or regulatory request, subpoena, or similar legal process. In the event of a corporate action or in the event a Fund service provider changes, the Funds may be required to disclose your nonpublic personal information to third parties. While it is the Funds’ practice to obtain protections for disclosed information in these types of transactions, the Funds cannot guarantee their privacy policy will remain unchanged.

Legg Mason Funds CCPA Privacy Policy 5 Your California Privacy Rights • You may have the right to know the categories and specific pieces of personal information we have collected about you. • You also have the right to request the deletion of the personal information collected or maintained by the Funds. If you wish to exercise any of the rights you have in respect of your personal information, you should advise the Funds by contacting them as set forth below. The rights noted above are subject to our other legal and regulatory obligations and any exemptions under the CCPA. You may designate an authorized agent to make a rights request on your behalf, subject to the identification process described below. We do not discriminate based on requests for information related to our use of your personal information, and you have the right not to receive discriminatory treatment related to the exercise of your privacy rights. We may request information from you in order to verify your identity or authority in making such a request. If you have appointed an authorized agent to make a request on your behalf, or you are an authorized agent making such a request (such as a power of attorney or other written permission), this process may include providing a password/passcode, a copy of government issued identification, affidavit or other applicable documentation, i.e. written permission. We may require you to verify your identity directly even when using an authorized agent, unless a power of attorney has been provided. We reserve the right to deny a request submitted by an agent if suitable and appropriate proof is not provided. For the 12-month period prior to the date of this Privacy Notice, the Legg Mason Funds have not sold any of your personal information; nor do we have any plans to do so in the future. Contact Information Address: Data Privacy Officer, 100 International Dr., Baltimore, MD 21202 Email: [email protected] Phone: 1-800-396-4748 Website Link: https://www.leggmason.com/content/dam/legg-mason/documents/en/regulatory-documents/letters-and- notices/privacy-security-notice.pdf Revised October 2020

NOT PART OF THE [SEMI/ANNUAL] REPORT

Legg Mason Funds CCPA Privacy Policy 6