Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution equal to, on an annualized basis, 7.0% of the Fund’s net asset value per share as of the close of markets on December 31, 2022 on the Fund's outstanding common stock. The distribution is payable on January 23, 2023 to shareholders of record on January 10, 2023. The ex-dividend date is January 9, 2023.

The Fund will pay a previously declared distribution today, December 22, 2022. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid for the year to date from the following sources: net investment income, net realized capital gains (short- and long-term) and return of capital. All amounts are expressed per share of common stock and are based on accounting principles generally accepted in the US, which may differ from federal income tax regulations.

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's Managed Distribution Policy.

The Fund estimates that it has distributed more than its net investment income and net realized capital gains; therefore, a portion of your distribution may be return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund's investment performance and should not be confused with "yield" or "income".

The amounts and sources of distributions reported above are only estimates and are not being 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 provides financial intermediary firms the information necessary to produce the Form 1099-DIV, and then the relevant financial intermediary firm will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. If you have any questions, or need additional information, please call us at 1-800-823-6300.

Portfolio data as of November 30, 2022, including performance, asset allocation, top 10 holdings, sector weightings, regional exposure, and other Fund characteristics have been posted on Lazard Asset Management's ("LAM") website, www.LazardAssetManagement.com.

The Fund's investment objective is total return, consisting of capital appreciation and current income. The Fund's net assets are invested in a portfolio of approximately 60 to 80 US and non-US equity securities, including American Depository Receipts, generally of companies with market capitalizations greater than $2 billion, and may include investments in emerging markets. The Fund also invests in emerging market currencies (primarily by entry into forward currency contracts), or instruments whose value is derived from the performance of an underlying emerging market currency, and also may invest in debt obligations, including government, government agency and corporate obligations and structured notes denominated in emerging market currencies.

An indirect subsidiary of Lazard Ltd (NYSE: LAZ), LAM, the Fund's investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of November 30, 2022, LAM and affiliated asset management companies in the Lazard Group managed $221.0 billion worth of client assets. For more information about LAM, please go to www.LazardAssetManagement.com. Follow LAM at @LazardAsset.

¹ Excludes the Fund's distribution of $0.59267 per share, which was declared by the Fund on December 17, 2021 and paid on January 11, 2022 to shareholders of record as of December 28, 2021, consisting of long-term capital gains realized in the Fund's prior fiscal year ended December 31, 2021. For federal income tax purposes, that distribution will be treated as paid on December 31, 2021, as it was declared by the Fund in December 2021 with a record date in the same month, although the distribution was paid in January 2022.

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