The current named portfolio management team responsible for the day-to-day oversight of Western Asset Premier Bond Fund (the "Fund") is as follows:

Michael Buchanan
Christopher Kilpatrick
Ryan Brist
Walter Kilcullen

Effective September 30, 2026, Christopher Kilpatrick will no longer be a member of the portfolio management team of the Fund.

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

For more information about the Fund, please call Fund Investor Services: 1-888-777-0102, or consult the Fund's website at www.franklintempleton.com/investments/options/closed-end-funds. The information contained on the Fund's web site is not part of this press release. Hard copies of the Fund's complete audited financial statements are available free of charge upon request.

The Fund's shares are traded on the New York Stock Exchange. Similar to stocks, Fund share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor's risk of loss. All investments are subject to risk, including the risk of loss.

About Western Asset

Western Asset is a leading global fixed-income manager with more than 50 years of experience and $228.9 billion in assets under management as of March 31, 2026. As an active manager, the firm pursues long-term, value-oriented strategies, integrating top-down macro views with bottom-up fundamental research across fixed-income sectors. With investment teams in seven major markets, Western Asset combines global perspective with local expertise. Its collaborative, team-based approach is supported by proprietary research and disciplined risk management, with a focus on consistent outcomes for clients. Western Asset is an investment group of Franklin Templeton, benefiting from the firm's global resources, distribution capabilities, and multi-asset platform. To learn more, visit www.westernasset.com.

About Franklin Templeton

Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients' strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity. With more than $1.68 trillion in assets under management as of March 31, 2026, Franklin Templeton operates globally in more than 35 countries.

Category: Fund Announcement

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20260417855442/en/

Investor Contact: Fund Investor Services – 1-800-777-0102

Media Contact: Jeaneen Terrio

+1-212-632-4005

Jeaneen.Terrio@franklintempleton.com

Western Asset Premier Bond Fund (NYSE: WEA) Announces Portfolio Management Team Update