WESTERN ASSET HIGH INCOME FUND II INC.

A closed-ended fixed income mutual fund, Western Asset High Income Fund II Inc. invests across global high-yield debt markets. The fund targets securities issued by U.S. and foreign corporations as well as foreign governments, focusing on below-investment-grade bonds that typically offer higher yields. Portfolio construction combines quantitative and fundamental analysis with bottom-up security selection to identify opportunities across diversified sectors in the fixed income space.

The fund is launched and managed by Legg Mason Partners Fund Advisor, LLC, with co-management from Western Asset Management Company and its affiliated entities across multiple regions. Performance is benchmarked against the Barclays Capital U.S. Corporate High Yield 2% Issuer Cap Index and the JPMorgan Emerging Markets Bond Index Global, reflecting its exposure to both developed and emerging market high-yield debt. The fund was incorporated in Maryland and formed in May 1998, operating as a publicly traded closed-end fund on the New York Stock Exchange.