Legg Mason Global Asset Management Trust

04/17/2026 | Press release | Distributed by Public on 04/17/2026 07:12

Prospectus by Investment Company (Form 497)

90020-P1 04/26

LEGG MASON GLOBAL ASSET MANAGEMENT TRUST
SUPPLEMENT DATED APRIL 17, 2026,
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION ("SAI")
DATED MARCH 1, 2026 OF
CLEARBRIDGE SMALL CAP FUND (THE "FUND")

All changes described below are effective June 30, 2026.

I. The following replaces the table in the section titled "Management - Portfolio managers" in the Fund's Summary Prospectus and Prospectus, respectively:

Portfolio

manager

Title

Portfolio manager

of the
fund since

Jeffrey Bailin, CFA

Director and Portfolio Manager of ClearBridge

June 2026

Erich Frey, CFA

Director and Assistant Portfolio Manager of ClearBridge

June 2026

II. The following replaces the table in the section titled "More on fund management - Portfolio managers" in the Fund's Prospectus:

Portfolio

manager

Title and recent biography

Portfolio manager of the
fund since

Jeffrey

Bailin, CFA

Mr. Bailin is a Director and Portfolio Manager of ClearBridge with 16 years of industry experience. Mr. Bailin joined ClearBridge in 2015. Prior to ClearBridge, he worked as Vice President and Lead Analyst, Equity Research for Health Care Distribution and Technology at Credit Suisse.

June 2026

Erich

Frey, CFA

Mr. Frey is a Director, Assistant Portfolio Manager and Portfolio Analyst of ClearBridge with 21 years of industry experience. Mr. Frey joined ClearBridge in 2005. Prior to ClearBridge, he worked as a Market Intelligence Associate, a Research Analyst and a Security Analyst at Legg Mason Capital Management, which completed its integration into ClearBridge in 2014.

June 2026

III. The following replaces the table with respect to the Fund in the section titled "Portfolio Managers - Other Accounts Managed by the Portfolio Managers" in the Fund's SAI:

Portfolio

Managers

Type of

Account

Number of
Accounts
Managed

Total

Assets
Managed
(Billions)

($)

Number of
Accounts
Managed for
which

Advisory
Fee is
Performance-
Based

Assets
Managed for
which

Advisory
Fee is
Performance-
Based
(Billions)

($)

Jeffrey

Bailin*

Registered

Investment

Companies

4

5.90

1

3.43

Other

Pooled Investment

Vehicles

2

0.48

None

None

Other

Accounts

1,467

0.51

None

None

Erich

Frey*

Registered

Investment

Companies

None

None

None

None

Other

Pooled Investment

Vehicles

None

None

None

None

Portfolio

Managers

Type of

Account

Number of
Accounts
Managed

Total

Assets
Managed
(Billions)

($)

Number of
Accounts
Managed for
which

Advisory
Fee is
Performance-
Based

Assets
Managed for
which

Advisory
Fee is
Performance-
Based
(Billions)

($)

Other

Accounts

None

None

None

None

* The information is as of March 31, 2026.

IV. The following replaces the table with respect to the Fund in the section titled "Portfolio Managers - Portfolio Managers Securities Ownership" in the Fund's SAI:

Portfolio Managers

Dollar Range of Ownership of Securities ($)

Jeffrey Bailin*

None

Erich Frey*

100,001-500,000

* The information is as of March 31, 2026.

Please retain this supplement for future reference.

Legg Mason Global Asset Management Trust published this content on April 17, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on April 17, 2026 at 13:12 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]