Western Asset Premier Bond Fund (NYSE: WEA) (the “Fund”) announced today that, due to the public health impact of the coronavirus pandemic (“COVID-19”) and to support the health and well-being of its shareholders, the location of the 2020 Annual Meeting of Shareholders (the “Meeting”) of the Fund has been changed. As previously announced, the Meeting will be held on Friday, May 8, 2020 at 10:00 a.m. Eastern Time. In light of public health concerns regarding COVID-19, the Meeting will be held in a virtual meeting format only. The Annual Meeting will be accessible solely by means of remote communication.

As described in the proxy materials for the Meeting previously distributed, the Board of Trustees of the Fund has fixed the close of business on March 25, 2020 as the record date for the determination of shareholders of the Fund entitled to notice of and to vote at the Meeting or any postponement or adjournment thereof. The Meeting will be held at the following Meeting website: http://www.meetingcenter.io/249357930. To participate in the Meeting at http://www.meetingcenter.io/249357930, shareholders must enter the Meeting ID (249357930) and password (PAI2020). Shareholders must also enter the control number found on their proxy card, voting instruction form or notice previously received. Shareholders may vote during the Meeting by following the instructions available on the Meeting website during the Meeting.

If shares are held through an intermediary, such as a bank or broker, shareholders must register in advance to attend the Meeting. To register shareholders must submit proof of their proxy power (legal proxy) reflecting their Fund holdings along with their name and email address to Computershare Fund Services, the Fund’s proxy solicitor. Shareholders may forward an email from their intermediary or attach an image of their legal proxy to legalproxy@computershare.com. Requests for registration must be received no later than 9:00 a.m., Eastern Time, on Tuesday, May 5, 2020. Shareholders will receive a confirmation email from Computershare of the shareholder’s registration and a control number that will allow the shareholder to vote at the Meeting.

Whether or not shareholders plan to attend the Meeting, the Fund urges shareholders to authorize a proxy to vote the shareholder’s shares in advance of the Meeting by one of the methods described in the proxy materials for the Meeting. In connection with the Meeting, the Fund has filed a definitive proxy statement with the Securities and Exchange Commission (the “SEC”). Shareholders are advised to read the Fund’s proxy statement because it contains important information. The proxy statement is available on the Internet at www.proxy-direct.com/lmf-31221. The proxy card included with the proxy materials previously distributed will not be updated to reflect the change in location and may continue to be used to vote your shares in connection with the Meeting. The proxy statement and other documents filed by the Fund are also available for free on the SEC website, www.sec.gov.

This press release is not intended to solicit a proxy from any shareholder of the Fund. This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the Fund’s current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund’s filings with the SEC. An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Any data and commentary provided in this press release are for informational purposes only.

For more information, please call Investor Relations: 1-888-777-0102, or consult the Fund’s web site at www.lmcef.com. 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.