Legg Mason Global Infrastructure ETF (INFR) to Close and Liquidate

On November 19, 2021, the Board of Trustees of Legg Mason ETF Investment Trust, on behalf of the Legg Mason Global Infrastructure ETF (the "Fund"), approved a proposal to liquidate and dissolve the Fund. The liquidation is anticipated to occur on or about February 3, 2022.

After the close of business on January 5, 2022, the Fund will no longer accept creation orders. Trading in the Fund on NASDAQ will be halted prior to market open on January 28, 2022. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about February 3, 2022.

When the Fund is in the process of liquidating its portfolio, which is anticipated to commence prior to January 28, 2022, the Fund will hold cash and securities that may not be consistent with the Fund's investment objective and strategies.

Shareholders may sell their shares of the Fund on NASDAQ until the market close on January 27, 2022 and may incur the usual and customary brokerage commissions associated with the sale of Fund shares. The Fund's shares will no longer trade on NASDAQ after market close on January 27, 2022, and the shares will be subsequently delisted. At the time the liquidation of the Fund is complete, shares of the Fund will be individually redeemed. Shareholders who do not sell their shares of the Fund before market close on January 27, 2022 will receive cash equal to the amount of the net asset value of their shares, which will include any capital gains and dividends, on or about February 3, 2022.

For those shareholders with taxable accounts and for Federal, state and local income tax purposes: (a) any liquidation proceeds paid to such shareholder should generally be treated as received by such shareholder in exchange for the shareholder's shares and the shareholder will therefore generally recognize a taxable gain or loss; and (b) in connection with the liquidation, the Fund may declare taxable distributions of its income and/or capital gain. Shareholders should consult their tax advisers regarding the effect of the Fund's liquidation in light of their individual circumstances.

For more information, please see the Fund's prospectus or visit https://www.franklintempleton.com/investments/options/exchange-traded-funds.

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Franklin Resources, Inc. (NYSE:BEN) is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton's mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the Company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and over $1.5 trillion in assets under management as of October 31, 2021. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.

Franklin Distributors, LLC. Member FINRA/SIPC. ClearBridge Investments, LLC, and Franklin Distributors, LLC, are Franklin Templeton affiliated companies.

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