Business Wire | Jan 8, 2021 08:00AM EST

ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of December 31, 2020

Jan. 08, 2021

NEW YORK--(BUSINESS WIRE)--Jan. 08, 2021--ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of December 31, 2020.

As of December 31, 2020, the Fund's net assets were $292.2 million, and its net asset value per share was $20.96.

The Fund's asset coverage ratio under the Investment Company Act of 1940 (the "1940 Act") with respect to senior indebtedness was 556% and the Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 323%.

As of December 31, 2020 Amount (millions) Per Share Investments $ 409.3 $ 29.36

Cash and Cash Equivalents 4.0 0.29

Other Assets 11.9 0.85

Total Assets $ 425.2 $ 30.50

Senior Notes* $ 76.1 $ 5.46

Loans Outstanding* - -

Mandatory Redeemable 55.0 3.94Preferred Shares*Total Leverage $ 131.1 $ 9.40

$ $ Income Tax Payable - -

Deferred Tax Liability - -

Other Liabilities 1.9 0.14

Total $ $ 0.14Liabilities 1.9

Net Assets $ 292.2 $ 20.96

Outstanding Shares 13,942,046

* The Fund's asset coverage ratio under the 1940 Act with respect tosenior indebtedness was 556%.* The Fund's asset coverage ratio under the 1940 Act with respect to totalleverage was 323%. Top Ten EquityHoldings (as of December 31, 2020)** Market ValueName (millions) % of Investments ***Enterprise Products $ 36.7 9.0%Partners LPMPLX LP $ 36.5 8.9%

Magellan Midstream $ 28.0 6.8%Partners LPEnergy Transfer LP $ 27.2 6.6%

ONEOK Inc. $ 24.8 6.1%

Williams Cos. Inc. $ 22.7 5.5%

Targa Resources $ 22.4 5.5%Corp.DCP Midstream LP $ 21.2 5.2%

Enbridge Inc. $ 16.9 4.1%

Kinder Morgan Inc. $ 15.4 3.8%

$ 251.8 61.5%

** Subject tochange at any time*** Percent ofTotal EquityInvestments ClearBridge MLP and Midstream Fund Inc. is a non-diversified, closed-end management investment company, which is advised by Legg Mason Partners Fund Advisor, LLC ("LMPFA") and subadvised by ClearBridge Investments, LLC ("ClearBridge"). LMPFA and ClearBridge are wholly-owned subsidiaries of Franklin Resources, Inc. ("Franklin Resources").

On July 31, 2020, Franklin Resources acquired Legg Mason, Inc. ("Legg Mason") in an all-cash transaction. As a result of the transaction, LMPFA and ClearBridge, previously wholly-owned subsidiaries of Legg Mason, became wholly-owned subsidiaries of Franklin Resources.

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission ("SEC"), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC's website at www.sec.gov. To obtain information on Form N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund's website at www.lmcef.com. 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.

Category: Financials

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

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