Western Asset Inflation-Linked Opportunities & Income Fund (WIW or “the Fund”; CUSIP: 95766R104) Announces Notification of Sources of Distributions

Key Terms

net asset value (NAV) financial

Net asset value (NAV) is the per-share value of an investment fund calculated by totaling the fund’s assets, subtracting its liabilities, and dividing the remainder by the number of outstanding shares. Think of it like a price tag on each share of a collective piggy bank: investors use NAV to see what each share is worth, to compare funds, and, for many funds, it’s the price at which shares are bought or redeemed.

return of capital financial

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

managed distribution policy financial

A managed distribution policy is a company’s plan to pay regular cash to shareholders at a set rate by combining income, dividends and occasional return of capital. Think of it as a scheduled withdrawal from a household account: it can provide steady income for investors, but part of the payment may come from savings rather than ongoing earnings, so investors should watch how those payments are funded and whether they are sustainable over time.

Form 1099-DIV regulatory

Form 1099-DIV is a U.S. tax document brokers, mutual funds and other financial institutions send to investors showing dividends and other distributions paid during the year. Investors use it like an annual receipt to report taxable income — including regular dividends, dividends that may qualify for lower tax rates, and capital gains distributions — so it directly affects tax liability and helps reconcile brokerage records with a tax return.

Annualized Distribution Rate financial

The annualized distribution rate shows how much income a financial investment is expected to generate over a year, expressed as a percentage of its current value. It helps investors understand the potential yearly earnings they might receive from their investment, similar to how a rental property’s annual rent income relates to its value. This rate allows for easy comparison between different investments based on their income potential.

NEW YORK--(BUSINESS WIRE)-- Western Asset Inflation-Linked Opportunities & Income Fund [NYSE: WIW]

Notification of Sources of Distributions
Pursuant to Section 19(a) of the Investment Company Act of 1940

The Fund’s estimated sources of the distribution to be paid on November 28, 2025, and for the fiscal year 2025 year-to-date are as follows:

Estimated Allocations for the November Monthly Distribution as of October 31, 2025:

Distribution Per Share		Net Investment Income		Net Realized Short-Term Capital Gains		Net Realized Long-Term Capital Gains		Return of Capital
$0.0625		$0.0339		$0.0000		$0.0000		$0.0286
100.00%		54.24%		0.00%		0.00%		45.76%

Cumulative Estimated Allocations fiscal year-to-date as of October 31, 2025, for the fiscal year ending November 30, 2025:

Distribution Per Share		Net Investment Income		Net Realized Short-Term Capital Gains		Net Realized Long-Term Capital Gains		Return of Capital
$0.6815		$0.3339		$0.0000		$0.0000		$0.3476
100.00%		48.99%		0.00%		0.00%		51.01%

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution or from the terms of the Plan. WIW estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the WIW distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect WIW’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 10/31/2025)1	Annualized Distribution Rate (as a percentage of NAV as of 10/31/2025)2	Cumulative Total Return (in relation to the change in NAV for the fiscal period through 10/31/2025)3	Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 10/31/2025)4
1.85%	7.68%	7.27%	6.98%

Fund Performance and Distribution Rate Information:

1. Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through October 31, 2025. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions paid.
2. The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV as of October 31, 2025.
3. Cumulative Total Return is the percentage change in the Fund’s NAV from November 30, 2024 through October 31, 2025, assuming reinvestment of distributions paid.
4. The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period November 30, 2024 through October 31, 2025, as a percentage of the Fund’s NAV as of October 31, 2025.

This Fund has a managed distribution policy that seeks to deliver the Fund’s long-term total return potential through regular monthly distributions declared at a fixed rate per common share. Distributions may be paid in part or in full from net investment income, realized capital gains and by returning capital, or a combination thereof. Shareholders should note, however, that if a Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distribution level, the difference will be distributed from the Fund’s assets and will constitute a return of the shareholder’s capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in his or her shares of the Fund. The Board of Directors of the Fund may terminate or suspend the managed distribution policy at any time, which could have an adverse effect on the market price of the Fund’s shares.

For further information on Western Asset Inflation-Linked Opportunities & Income Fund, please visit our web site at: www.franklintempleton.com/investments/options/closed-end-funds

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

Category: Distribution Related
Source: Franklin Resources, Inc.
Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20251128797812/en/

Investor Contact: Fund Investor Services 1-888-777-0102

Source: Franklin Resources, Inc. and Legg Mason Closed End Funds