Western Asset Inflation-Linked Income Fund

Western Asset Inflation-Linked Income Fund (the Fund) is a diversified closed-end management investment company. The Fund’s primary investment objective is to provide current income for its shareholders. The Fund seeks current income, with a secondary investment objective of capital appreciation. The Fund provides a leveraged portfolio investing at least 80% in inflation-linked securities, consisting primarily of United States Treasury Inflation Protected Securities (TIPS), with the ability to invest in other fixed-income assets, including high-yield, emerging markets, structured products, commodities, and currency. The Fund may also invest up to 40% of its total managed assets in non-United States dollar investments. The Fund can invest no more than 10% of its total managed assets in securities rated below investment grade at the time of purchase. The Fund’s investment adviser is Western Asset Management Company, LLC.