On February 13, 2023, Templeton Global Income Fund announced that it has withdrawn the pending litigation to prevent the certification of the results of the Fund's 2022 Annual Meeting of Shareholders held on June 6, 2022, and, as such, the results will be certified and Saba Capital Management, L.P. 's nominees will be seated as trustees of the Company. The Company stated that in the best interests of shareholders, it has taken action to discontinue the litigation, considering the length of time that has already elapsed and the additional time expected to be needed to finally resolve the litigation, during which shareholders remain subject to significant ongoing costs and continued uncertainty as to the Fund's future. The Company also announced that the 3 remaining non-Saba nominated independent trustees have tendered their resignations to be effective immediately upon certification of the 2022 Annual Meeting results, and they will no longer serve on the Fund's Board.

Further, the Company stated that upon certification of the 2022 Annual Meeting results, Saba's nominees will control the Company's Board and will have the ability to make material changes to the Company, including to its investment strategy and the investment manager. In addition, the Company stated that Saba also has expressed its intention to nominate 3 additional trustees to replace the 3 non-Saba nominated Company independent trustees.