LMP Capital and Income Fund Inc. (SCD) Announces Distributions Pursuant to its Managed Distribution Policy for the Months of September, October and November 2023

LMP Capital and Income Fund Inc. (SCD) announced today that it has declared distributions pursuant to its managed distribution policy for the months of September, October and November 2023. Following the September payment, SCD will move from a quarterly to a monthly distribution schedule. Management believes that regular, monthly distributions may benefit investors.

The following dates apply to the distribution schedule below:

^a Please see table below for the Fund's estimated source of distributions.

^b Quarterly paying distribution.

^c SCD to convert to a monthly paying distribution starting with the October 2023 distribution.

Under the terms of the Fund's managed distribution policy, the Fund seeks to maintain a consistent distribution level derived from the income and capital gains generated from the Fund's investment portfolio. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income". Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund's capital loss carryovers from prior years. The Board of Directors may modify, terminate or suspend the managed distribution policy at any time. Any such modification, termination or suspension could have an adverse effect on the market price of the Fund's shares.

Based on the Funds' tax accounting records, which also factor in currency fluctuations, the Fund's estimated source of cumulative fiscal year-to-date distributions is presented in the table below:

1. Sources of cumulative fiscal year-to-date distributions are estimated through November 30, 2023.

The updated estimated components of the distributions announced today will be provided to shareholders of record in a separate notice when the distributions are paid.

Shareholders should not draw any conclusions about the Fund's investment performance from the amount of these distributions or from the terms of the Fund's managed distribution policy. The amounts and sources of the Fund's distributions to be reported will be estimates and will not be 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.

Legg Mason Partners Fund Advisor, LLC is an indirect, wholly-owned subsidiary of Franklin Resources, Inc. ("Franklin Resources").

For more information about the Fund, please call 1-888-777-0102 or consult the Fund's website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund's complete audited financial statements are available free of charge upon request.

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 Fund.

The Fund's common shares are traded on the New York Stock Exchange. Similar to stocks, Fund share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor's risk of loss. All investments are subject to risk, including the risk of loss.

INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Category: Distribution Related

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

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