# EDGAR Filing Document

**Accession Number:** 0000795402
**File Stem:** 0001868420-23-000030
**Filing Date:** 2023-2
**Character Count:** 624469
**Document Hash:** 64023771e14ac9de8167ad84ddd12f30
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001868420-23-000030.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001868420-23-000030

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**EFFECTIVENESS DATE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TEMPLETON INCOME TRUST
- **CENTRAL INDEX KEY:** 0000795402
- **IRS NUMBER:** 596865210
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04706
- **FILM NUMBER:** 23678569

**BUSINESS ADDRESS:**
- **STREET 1:** 300 S.E. 2ND STREET
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301-1923
- **BUSINESS PHONE:** 9545277500

**MAIL ADDRESS:**
- **STREET 1:** 300 S.E. 2ND STREET
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301-1923

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TEMPLETON INCOME FUND
- **DATE OF NAME CHANGE:** 19871006

## Series and Classes Contracts Data

### Templeton Global Bond Fund (Series ID: S000008754)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000023828 | Class A       | TPINX           |
| C000023829 | Class C       | TEGBX           |
| C000023830 | Advisor Class | TGBAX           |
| C000075045 | Class R       | FGBRX           |
| C000128750 | Class R6      | FBNRX           |

### Templeton International Bond Fund (Series ID: S000019674)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000055044 | Class A       | TBOAX           |
| C000055045 | Class C       | FCNBX           |
| C000055046 | Class R       |  |
| C000055047 | Advisor Class | FIBZX           |
| C000194388 | Class R6      | FIBQX           |

### Templeton Global Total Return Fund (Series ID: S000023539)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000069254 | Class A       | TGTRX           |
| C000069255 | Class C       | TTRCX           |
| C000069256 | Class R       | FRRGX           |
| C000069257 | Advisor Class | TTRZX           |
| C000128751 | Class R6      | FTTRX           |

### Templeton Sustainable Emerging Markets Bond Fund (Series ID: S000040303)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000125198 | Class A       | FEMGX           |
| C000125199 | Class C       | FEMHX           |
| C000125200 | Class R       | FEMBX           |
| C000125201 | Class R6      | FEMRX           |
| C000125202 | Advisor Class | FEMZX           |

UNITED STATES##NEWLINE## SECURITIES AND EXCHANGE COMMISSION##NEWLINE## Washington, DC 20549

FORM N-CSR

# CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-04706

Templeton Income Trust

(Exact name of registrant as specified in charter)

300 S.E. 2##SUP##nd##SUP## Street, Fort Lauderdale, FL 33301-1923##NEWLINE## (Address of principal executive offices)(Zip code)

Alison Baur, One Franklin Parkway, San Mateo, CA 94403-1906

(Name and address of agent for service)

Registrant's telephone number, including area code:(954) 527-7500

Date of fiscal year end: 12/31

Date of reporting period: 12/31/22

**Item 1. Reports to Stockholders.**

a.)

The following is a copy of the report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30e-1.)##NEWLINE## ##NEWLINE## ##NEWLINE##

b.)

Include a copy of each notice transmitted to stockholders in reliance on Rule 30e-3 under the Act (17 CFR 270.30e-3) that contains disclosures specified by paragraph (c)(3) of that rule.

**Not Applicable.**

ANNUAL REPORT AND SHAREHOLDER LETTER

# TRUST

![img-0.jpeg](img-0.jpeg)

Templeton Global Total Return Fund

Templeton Sustainable Emerging Markets Bond Fund

Templeton Global Bond Fund

Templeton International Bond Fund

Sign up for electronic delivery at franklintempleton.com/edelivery

Dear Shareholder:

The 12 months ended December 31, 2022, were
characterized by multiple challenges to the global economy

Sincerely,

## SHAREHOLDER LETTER

See www.bankoleamplatanlabassurance.com for additional data provider information.

Not FDIC Insured | May Lose Value | No Bank Guarantee

BankOteamplatan.com

Annual Report | 1

L. Source: Morningstar.

in the form of the lingering economic impacts of COVID-19.
Russia's war on Ukraine and its impact on the movement
and prices of goods as well as the refugee flows into Europe,
continued supply-chain disruptions, high commodity prices,
Economy and Market Insurance
Scotland, and the year as central banks focused
on fighting inflation, both at the expense of growth, with a
Templeton Global Total Return Fund 10
Templeton International Bond Fund 16
Michael Hasenstab, Ph.D.
Executive Vice President,
Chief Investment Officer of Templeton Global Macro

# Contents

2 | Annual Report

thank@templeton.com

significant number of central banks implementing monetary
summaries. Some of the negative factors started to ease in
the final months of the year, including supply chains offering
Financial finance to and following the financial
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key
financial system. The financial system is a key

This letter reflects our analysis and opinions as of December
31, 2022, unless otherwise indicated. The information is not
a complete analysis of every aspect of any market, country,
industry, security or fund. Statements of fact are from
sources considered reliable.

## ANNUAL REPORT

BankInformation.com

Annual Report

3

and that the company has a large deal of business, which is not necessarily a member of the company. The company has a large deal of business, which is not necessarily a member of the company. The company has a large deal of business, which is not necessarily a member of the company.

currency exchange rates and credit risks. For purposes of pursuing its investment goals, the Fund regularly enters into various currency-related transactions involving derivative instruments, principally currency and cross currency

## Templeton Global Bond Fund

The index is unchanged and includes remeasurement of any income or distributions. It does not reflect any fees, expenses or sales charges. One cannot invest directly in an index, and an index is not representative of the Fund's portfolio.
See www.franklintempleton.com for additional data provided information.
The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund's Schedule of Investments (SBI).
The SBI begins on page 34.

4 | Annual Report

franklintempleton.com

1. Source: Morningstar

The United States Department of Agriculture has determined that the federal government has not yet been able to provide a complete and complete report of the Department of Agriculture, including the Department of Agriculture, for the purpose of this report. The Department of Agriculture has determined that the Department of Agriculture has not yet been able to provide a complete report of the Department of Agriculture, including the Department of Agriculture, for the purpose of this report.

The Department of Agriculture has determined that the Department of Agriculture has not yet been able to provide a complete report of the Department of Agriculture, including the Department of Agriculture, for the purpose of this report.

**Geographic Composition**
1,000,000
Global Bond Fund. We look forward to serving as a measure of investment needs.

Michael Hasenstab, Ph.D.
Lead Portfolio Manager

Calvin Ho, Ph.D.

TEMPLETON GLOBAL BOND FUND

exited in the fourth quarter. We also closed the Swedish

Thank you for your continued participation in Templeton

Nark@templeton.com

Annual Report

5

| notes, bills and debentures | Americas | 30.1% |
| --- | --- | --- |
| outstanding contracts and other contracts | Asia Pacific | 24.9% |
| other contracts to work and provide payment | Other Europe | 9.4% |
| other contracts to work and provide payment | Middle East & Africa | 1.7% |
| For the first time of the year, the following: 1st time of the year | Short Term Investment & Other Net Assets | 33.9% |
| post-2016 and 2017 | Highest Price |  |
| post-2016 and 2017 | Highest Price |  |
| post-2016 and 2017 | Highest Price |  |
| post-2016 and 2017 | Highest Price |  |
| post-2016 and 2017 | Highest Price |  |

Performance as of 12/31/221

TEMPLETON GLOBAL BOND FUND

## Performance Summary as of December 31, 2022

The performance table and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain.

6. Annual Report

franklinengreen.com

See page 5 for Performance Summary footnotes.

benchmark, the FTSE World Government Bond Index. In bonds, we continued to maintain low portfolio duration (SUMMARY). In 2020, the FTSE World Government Bond Index was established. While aiming at a high overall portfolio yield by holding what currently is the 2020-2022 period, the FTSE World Government Bond Index was established. In 2020, the FTSE World Government Bond Index was established. In 2020, the FTSE World Government Bond Index was established.

![img-1.jpeg](img-1.jpeg)

Total Return Index Comparison for a Hypothetical $10,000 Investment1

![img-2.jpeg](img-2.jpeg)

See page 8 for Performance Summary footnotes.

[{"box_2d": [31, 28, 560, 121], "label": "table", "caption": "<table><tr><td><b>Reserve (Ted) policy</b> growth differentials were in favor of Performance (see itemised) and performance, which after the 11th of 2013, under-committed from their ownership net guarantee (GMO) funds. Investment in net and principal value will be made, and you may have a loan or loan when the Company is authorized, legal, or with the risk not affected</td><td>preference for the higher yields available in select emerging market local-currency bonds, notably including Indonesia, India, Thailand, Brazil, and Colombia.</td></tr><tr><td><b>Share of 2013 our Group's financial and financial performance</b></td><td>At the beginning of the period, the Fund had normalized positions in 2013 to 2014. The Fund's share of 2013 was 2.5% of the Fund's share of 2014. The Fund's share of 2015 was 2.5% of the Fund's share of 2016. The Fund's share of 2017 was 2.5% of the Fund's share of 2018. The Fund's share of 2019 was 2.5% of the Fund's share of 2020. The Fund's share of 2021 was 2.5% of the Fund's share of 2022. The Fund's share of 2023 was 2.5% of the Fund's share of 2024. The Fund's share of 2025 was 2.5% of the Fund's share of 2026. The Fund's share of 2027 was 2.5% of the Fund's share of 2028. The Fund's share of 2029 was 2.5% of the Fund's share of 2030. The Fund's share of 2031 was 2.5% of the Fund's share of 2032. The Fund's share of 2033 was 2.5% of the Fund's share of 2034. The Fund's share of 2035 was 2.5% of the Fund's share of 2036. The Fund's share of 2037 was 2.5% of the Fund's share of 2038. The Fund's share of 2039 was 2.5% of the Fund's share of 2040. The Fund's share of 2041 was 2.5% of the Fund's share of 2042. The Fund's share of 2043 was 2.5% of the Fund's share of 2044. The Fund's share of 2045 was 2.5% of the Fund's share of 2046. The Fund's share of 2047 was 2.5% of the Fund's share of 2048. The Fund's share of 2049 was 2.5% of the Fund's share of 2050. The Fund's share of 2051 was 2.5% of the Fund's share of 2052. The Fund's share of 2053 was 2.5% of the Fund's share of 2054. The Fund's share of 2055 was 2.5% of the Fund's share of 2056. The Fund's share of 2057 was 2.5% of the Fund's share of 2058. The Fund's share of 2059 was 2.5% of the Fund's share of 2060. The Fund's share of 2061 was 2.5% of the Fund's share of 2062. The Fund's share of 2063 was 2.5% of the Fund's share of 2064. The Fund's share of 2065 was 2.5% of the Fund's share of 2066. The Fund's share of 2067 was 2.5% of the Fund's share of 2068. The Fund's share of 2069 was 2.5% of the Fund's share of 2070. The Fund's share of 2071 was 2.5% of the Fund's share of 2072. The Fund's share of 2073 was 2.5% of the Fund's share of 2074. The Fund's share of 2075 was 2.5% of the Fund's share of 2076. The Fund's share of 2077 was 2.5% of the Fund's share of 2078. The Fund's share of 2079 was 2.5% of the Fund's share of 2080. The Fund's share of 2081 was 2.5% of the Fund's share of 2082. The Fund's share of 2083 was 2.5% of the Fund's share of 2084. The Fund's share of 2085 was 2.5% of the Fund's share of 2086. The Fund's share of 2087 was 2.5% of the Fund's share of 2088. The Fund's share of 2089 was 2.5% of the Fund's share of 2090. The Fund's share of 2091 was 2.5% of the Fund's share of 2092. The Fund's share of 2093 was 2.5% of the Fund's share of 2094. The Fund's share of 2095 was 2.5% of the Fund's share of 2096. The Fund's share of 2097 was 2.5% of the Fund's share of 2098. The Fund's share of 2099 was 2.5% of the Fund's share of 2100. The Fund's share of 2101 was 2.5% of the Fund's share of 2102. The Fund's share of 2103 was 2.5% of the Fund's share of 2104. The Fund's share of 2105 was 2.5% of the Fund's share of 2106. The Fund's share of 2107 was 2.5% of the Fund's share of 2108. The Fund's share of 2109 was 2.5% of the Fund's share of 2110. The Fund's share of 2111 was 2.5% of the Fund's share of 2112. The Fund's share of 2113 was 2.5% of the Fund's share of 2114. The Fund's share of 2115 was 2.5% of the Fund's share of 2116. The Fund's share of 2117 was 2.5% of the Fund's share of 2118. The Fund's share of 2119 was 2.5% of the Fund's share of 2120. The Fund's share of 2121 was 2.5% of the Fund's share of 2122. The Fund's share of 2123 was 2.5% of the Fund's share of 2124. The Fund's share of 2125 was 2.5% of the Fund's share of 2126. The Fund's share of 2127 was 2.5% of the Fund's share of 2128. The Fund's share of 2129 was 2.5% of the Fund's share of 2130. The Fund's share of 2131 was 2.5% of the Fund's share of 2132. The Fund's share of 2133 was 2.5% of the Fund's share of 2134. The Fund's share of 2135 was 2.5% of the Fund's share of 2136. The Fund's share of 2137 was 2.5% of the Fund's share of 2138. The Fund's share of 2139 was 2.5% of the Fund's share of 2140. The Fund's share of 2141 was 2.5% of the Fund's share of 2142. The Fund's share of 2143 was 2.5% of the Fund's share of 2144. The Fund's share of 2145 was 2.5% of the Fund's share of 2146. The Fund's share of 2147 was 2.5% of the Fund's share of 2148. The Fund's share of 2149 was 2.5% of the Fund's share of 2150. The Fund's share of 2151 was 2.5% of the Fund's share of 2152. The Fund's share of 2153 was 2.5% of the Fund's share of 2154. The Fund's share of 2155 was 2.5% of the Fund's share of 2156. The Fund's share of 2157 was 2.5% of the Fund's share of 2158. The Fund's share of 2159 was 2.5% of the Fund's share of 2160. The Fund's share of 2161 was 2.5% of the Fund's share of 2162. The Fund's share of 2163 was 2.5% of the Fund's share of 2164. The Fund's share of 2165 was 2.5% of the Fund's share of 2166. The Fund's share of 2167 was 2.5% of the Fund's share of 2168. The Fund's share of 2169 was 2.5% of the Fund's share of 2170. The Fund's share of 2171 was 2.5% of the Fund's share of 2172. The Fund's share of 2173 was 2.5% of the Fund's share of 2174. The Fund's share of 2175 was 2.5% of the Fund's share of 2176. The Fund's share of 2177 was 2.5% of the Fund's share of 2178. The Fund's share of 2179 was 2.5% of the Fund's share of 2180. The Fund's share of 2181 was 2.5% of the Fund's share of 2182. The Fund's share of 2183 was 2.5% of the Fund's share of 2184. The Fund's share of 2185 was 2.5% of the Fund's share of 2186. The Fund's share of 2187 was 2.5% of the Fund's share of 2188. The Fund's share of 2189 was 2.5% of the Fund's share of 2190. The Fund's share of 2191 was 2.5% of the Fund's share of 2192. The Fund's share of 2193 was 2.5% of the Fund's share of 2194. The Fund's share of 2195 was 2.5% of the Fund's share of 2196. The Fund's share of 2197 was 2.5% of the Fund's share of 2198. The Fund's share of 2199 was 2.5% of the Fund's share of 2200. The Fund's share of 2201 was 2.5% of the Fund's share of 2202. The Fund's share of 2203 was 2.5% of the Fund's share of 2204. The Fund's share of 2205 was 2.5% of the Fund's share of 2206. The Fund's share of 2207 was 2.5% of the Fund's share of 2208. The Fund's share of 2209 was 2.5% of the Fund's share of 2210. The Fund's share of 2211 was 2.5% of the Fund's share of 2212. The Fund's share of 2213 was 2.5% of the Fund's share of 2214. The Fund's share of 2215 was 2.5% of the Fund's share of 2216. The Fund's share of 2217 was 2.5% of the Fund's share of 2218. The Fund's share of 2219 was 2.5% of the Fund's share of 2220. The Fund's share of 2221 was 2.5% of the Fund's share of 2222. The Fund's share of 2223 was 2.5% of the Fund's share of 2224. The Fund's share of 2225 was 2.5% of the Fund's share of 2226. The Fund's share of 2227 was 2.5% of the Fund's share of 2228. The Fund's share of 2229 was 2.5% of the Fund's share of 2230. The Fund's share of 2231 was 2.5% of the Fund's share of 2232. The Fund's share of 2233 was 2.5% of the Fund's share of 2234. The Fund's share of 2235 was 2.5% of the Fund's share of 2236. The Fund's share of 2237 was 2.5% of the Fund's share of 2238. The Fund's share of 2239 was 2.5% of the Fund's share of 2240. The Fund's share of 2241 was 2.5% of the Fund's share of 2242. The Fund's share of 2243 was 2.5% of the Fund's share of 2244. The Fund's share of 2245 was 2.5% of the Fund's share of 2246. The Fund's share of 2247 was 2.5% of the Fund's share of 2248. The Fund's share of 2249 was 2.5% of the Fund's share of 2250. The Fund's share of 2251 was 2.5% of the Fund's share of 2252. The Fund's share of 2253 was 2.5% of the Fund's share of 2254. The Fund's share of 2255 was 2.5% of the Fund's share of 2256. The Fund's share of 2257 was 2.5% of the Fund's share of 2258. The Fund's share of 2259 was 2.5% of the Fund's share of 2260. The Fund's share of 2261 was 2.5% of the Fund's share of 2262. The Fund's share of 2263 was 2.5% of the Fund's share of 2264. The Fund's share of 2265 was 2.5% of the Fund's share of 2266. The Fund's share of 2267 was 2.5% of the Fund's share of 2268. The Fund's share of 2269 was 2.5% of the Fund's share of 2270. The Fund's share of 2271 was 2.5% of the Fund's share of 2272. The Fund's share of 2273 was 2.5% of the Fund's share of 2274. The Fund's share of 2275 was 2.5% of the Fund's share of 2276. The Fund's share of 2277 was 2.5% of the Fund's share of 2278. The Fund's share of 2279 was 2.5% of the Fund's share of 2280. The Fund's share of 2281 was 2.5% of the Fund's share of 2282. The Fund's share of 2283 was 2.5% of the Fund's share of 2284. The Fund's share of 2285 was 2.5% of the Fund's share of 2286. The Fund's share of 2287 was 2.5% of the Fund's share of 2288. The Fund's share of 2289 was 2.5% of the Fund's share of 2290. The Fund's share of 2291 was 2.5% of the Fund's share of 2292. The Fund's share of 2293 was 2.5% of the Fund's share of 2294. The Fund's share of 2295 was 2.5% of the Fund's share of 2296. The Fund's share of 2297 was 2.5% of the Fund's share of 2298. The Fund's share of 2299 was 2.5% of the Fund's share of 2300. The Fund's share of 2301 was 2.5% of the Fund's share of 2302. The Fund's share of 2303 was 2.5% of the Fund's share of 2304. The Fund's share of 2305 was 2.5% of the Fund's share of 2306. The Fund's share of 2307 was 2.5% of the Fund's share of 2308. The Fund's share of 2309 was 2.5% of the Fund's share of 2310. The Fund's share of 2311 was 2.5% of the Fund's share of 2312. The Fund's share of 2313 was 2.5% of the Fund's share of 2314. The Fund's share of 2315 was 2.5% of the Fund's share of 2316. The Fund's share of 2317 was 2.5% of the Fund's share of 2318. The Fund's share of 2319 was 2.5% of the Fund's share of 2320. The Fund's share of 2321 was 2.5% of the Fund's share of 2322. The Fund's share of 2323 was 2.5% of the Fund's share of 2324. The Fund's share of 2325 was 2.5% of the Fund's share of 2326. The Fund's share of 2327 was 2.5% of the Fund's share of 2328. The Fund's share of 2329 was 2.5% of the Fund's share of 2330. The Fund's share of 2331 was 2.5% of the Fund's share of 2332. The Fund's share of 2333 was 2.5% of the Fund's share of 2334. The Fund's share of 2335 was 2.5% of the Fund's share of 2336. The Fund's share of 2337 was 2.5% of the Fund's share of 2338. The Fund's share of 2339 was 2.5% of the Fund's share of 2340. The Fund's share of 2341 was 2.5% of the Fund's share of 2342. The Fund's share of 2343 was 2.5% of the Fund's share of 2344. The Fund's share of 2345 was 2.5% of the Fund's share of 2346. The Fund's share of 2347 was 2.5% of the Fund's share of 2348. The Fund's share of 2349 was 2.5% of the Fund's share of 2350. The Fund's share of 2351 was 2.5% of the Fund's share of 2352. The Fund's share of 2353 was 2.5% of the Fund's share of 2354. The Fund's share of 2355 was 2.5% of the Fund's share of 2356. The Fund's share of 2357 was 2.5% of the Fund's share of 2358. The Fund's share of 2359 was 2.5% of the Fund's share of 2360. The Fund's share of 2361 was 2.5% of the Fund's share of 2362. The Fund's share of 2363 was 2.5% of the Fund's share of 2364. The Fund's share of 2365 was 2.5% of the Fund's share of 2366. The Fund's share of 2367 was 2.5% of the Fund's share of 2368. The Fund's share of 2369 was 2.5% of the Fund's share of 2370. The Fund's share of 2371 was 2.5% of the Fund's share of 2372. The Fund's share of 2373 was 2.5% of the Fund's share of 2374. The Fund's share of 2375 was 2.5% of the Fund's share of 2376. The Fund's share of 2377 was 2.5% of the Fund's share of 2378. The Fund's share of 2379 was 2.5% of the Fund's share of 2380. The Fund's share of 2381 was 2.5% of the Fund's share of 2382. The Fund's share of 2383 was 2.5% of the Fund's share of 2384. The Fund's share of 2385 was 2.5% of the Fund's share of 2386. The Fund's share of 2387 was 2.5% of the Fund's share of 2388. The Fund's share of 2389 was 2.5% of the Fund's share of 2390. The Fund's share of 2391 was 2.5% of the Fund's share of 2392. The Fund's share of 2393 was 2.5% of the Fund's share of 2394. The Fund's share of 2395 was 2.5% of the Fund's share of 2396. The Fund's share of 2397 was 2.5% of the Fund's share of 2398. The Fund's share of 2399 was 2.5% of the Fund's share of 2400. The Fund's share of 2401 was 2.5% of the Fund's share of 2402. The Fund's share of 2403 was 2.5% of the Fund's share of 2404. The Fund's share of 2405 was 2.5% of the Fund's share of 2406. The Fund's share of 2407 was 2.5% of the Fund's share of 2408. The Fund's share of 2409 was 2.5% of the Fund's share of 2410. The Fund's share of 2411 was 2.5% of the Fund's share of 2412. The Fund's share of 2413 was 2.5% of the Fund's share of 2414. The Fund's share of 2415 was 2.5% of the Fund's share of 2416. The Fund's share of 2417 was 2.5% of the Fund's share of 2418. The Fund's share of 2419 was 2.5% of the Fund's share of 2420. The Fund's share of 2421 was 2.5% of the Fund's share of 2422. The Fund's share of 2423 was 2.5% of the Fund's share of 2424. The Fund's share of 2425 was 2.5% of the Fund's share of 2426. The Fund's share of 2427 was 2.5% of the Fund's share of 2428. The Fund's share of 2429 was 2.5% of the Fund's share of 2430. The Fund's share of 2431 was 2.5% of the Fund's share of 2432. The Fund's share of 2433 was 2.5% of the Fund's share of 2434. The Fund's share of 2435 was 2.5% of the Fund's share of 2436. The Fund's share of 2437 was 2.5% of the Fund's share of 2438. The Fund's share of 2439 was 2.5% of the Fund's share of 2440. The Fund's share of 2441 was 2.5% of the Fund's share of 2442. The Fund's share of 2443 was 2.5% of the Fund's share of 2444. The Fund's share of 2445 was 2.5% of the Fund's share of 2446. The Fund's share of 2447 was 2.5% of the Fund's share of 2448. The Fund's share of 2449 was 2.5% of the Fund's share of 2450. The Fund's share of 2451 was 2.5% of the Fund's share of 2452. The Fund's share of 2453 was 2.5% of the Fund's share of 2454. The Fund's share of 2455 was 2.5% of the Fund's share of 2456. The Fund's share of 2457 was 2.5% of the Fund's share of 2458. The Fund's share of 2459 was 2.5% of the Fund's share of 2460. The Fund's share of 2461 was 2.5% of the Fund's share of 2462. The Fund's share of 2463 was 2.5% of the Fund's share of 2464. The Fund's share of 2465 was 2.5% of the Fund's share of 2466. The Fund's share of 2467 was 2.5% of the Fund's share of 2468. The Fund's share of 2469 was 2.5% of the Fund's share of 2470. The Fund's share of 2471 was 2.5% of the Fund's share of 2472. The Fund's share of 2473 was 2.5% of the Fund's share of 2474. The Fund's share of 2475 was 2.5% of the Fund's share of 2476. The Fund's share of 2477 was 2.5% of the Fund's share of 2478. The Fund's share of 2479 was 2.5% of the Fund's share of 2480. The Fund's share of 2481 was 2.5% of the Fund's share of 2482. The Fund's share of 2483 was 2.5% of the Fund's share of 2484. The Fund's share of 2485 was 2.5% of the Fund's share of 2486. The Fund's share of 2487 was 2.5% of the Fund's share of 2488. The Fund's share of 2489 was 2.5% of the Fund's share of 2490. The Fund's share of 2491 was 2.5% of the Fund's share of 2492. The Fund's share of 2493 was 2.5% of the Fund's share of 2494. The Fund's share of 2495 was 2.5% of the Fund's share of 2496. The Fund's share of 2497 was 2.5% of the Fund's share of 2498. The Fund's share of 2499 was 2.5% of the Fund's share of 2500. The Fund's share of 2501 was 2.5% of the Fund's share of 2502. The Fund's share of 2503 was 2.5% of the Fund's share of 2504. The Fund's share of 2505 was 2.5% of the Fund's share of 2506. The Fund's share of 2507 was 2.5% of the Fund's share of 2508. The Fund's share of 2509 was 2.5% of the Fund's share of 2510. The Fund's share of 2511 was 2.5% of the Fund's share of 2512. The Fund's share of 2513 was 2.5% of the Fund's share of 2514. The Fund's share of 2515 was 2.5% of the Fund's share of 2516. The Fund's share of 2517 was 2.5% of the Fund's share of 2518. The Fund's share of 2519 was 2.5% of the Fund's share of 2520. The Fund's share of 2521 was 2.5% of the Fund's share of 2522. The Fund's share of 2523 was 2.5% of the Fund's share of 2524. The Fund's share of 2525 was 2.5% of the Fund's share of 2526. The Fund's share of 2527 was 2.5% of the Fund's share of 2528. The Fund's share of 2529 was 2.5% of the Fund's share of 2530. The Fund's share of 2531 was 2.5% of the Fund's share of 2532. The Fund's share of 2533 was 2.5% of the Fund's share of 2534. The Fund's share of 2535 was 2.5% of the Fund's share of 2536. The Fund's share of 2537 was 2.5% of the Fund's share of 2538. The Fund's share of 2539 was 2.5% of the Fund's share of 2540. The Fund's share of 2541 was 2.5% of the Fund's share of 2542. The Fund's share of 2543 was 2.5% of the Fund's share of 2544. The Fund's share of 2545 was 2.5% of the Fund's share of 2546. The Fund's share of 2547 was 2.5% of the Fund's share of 2548. The Fund's share of 2549 was 2.5% of the Fund's share of 2550. The Fund's share of 2551 was 2.5% of the Fund's share of 2552. The Fund's share of 2553 was 2.5% of the Fund's share of 2554. The Fund's share of 2555 was 2.5% of the Fund's share of 2556. The Fund's share of 2557 was 2.5% of the Fund's share of 2558. The Fund's share of 2559 was 2.5% of the Fund's share of 2560. The Fund's share of 2561 was 2.5% of the Fund's share of 2562. The Fund's share of 2563 was 2.5% of the Fund's share of 2564. The Fund's share of 2565 was 2.5% of the Fund's share of 2566. The Fund's share of 2567 was 2.5% of the Fund's share of 2568. The Fund's share of 2569 was 2.5% of the Fund's share of 2570. The Fund's share of 2571 was 2.5% of the Fund's share of 2572. The Fund's share of 2573 was 2.5% of the Fund's share of 2574. The Fund's share of 2575 was 2.5% of the Fund's share of 2576. The Fund's share of 2577 was 2.5% of the Fund's share of 2578. The Fund's share of 2579 was 2.5% of the Fund's share of 2580. The Fund's share of 2581 was 2.5% of the Fund's share of 2582. The Fund's share of 2583 was 2.5% of the Fund's share of 2584. The Fund's share of 2585 was 2.5% of the Fund's share of 2586. The Fund's share of 2587 was 2.5% of the Fund's share of 2588. The Fund's share of 2589 was 2.5% of the Fund's share of 2590. The Fund's share of 2591 was 2.5% of the Fund's share of 2592. The Fund's share of 2593 was 2.5% of the Fund's share of 2594. The Fund's share of 2595 was 2.5% of the Fund's share of 2596. The Fund's share of 2597 was 2.5% of the Fund's share of 2598. The Fund's share of 2599 was 2.5% of the Fund's share of 2600. The Fund's share of 2601 was 2.5% of the Fund's share of 2602. The Fund's share of 2603 was 2.5% of the Fund's share of 2604. The Fund's share of 2605 was 2.5% of the Fund's share of 2606. The Fund's share of 2607 was 2.5% of the Fund's share of 2608. The Fund's share of 2609 was 2.5% of the Fund's share of 2610. The Fund's share of 2611 was 2.5% of the Fund's share of 2612. The Fund's share of 2613 was 2.5% of the Fund's share of 2614. The Fund's share of 2615 was 2.5% of the Fund's share of 2616. The Fund's share of 2617 was 2.5% of the Fund's share of 2618. The Fund's share of 2619 was 2.5% of the Fund's share of 2620. The Fund's share of 2621 was 2.5% of the Fund's share of 2622. The Fund's share of 2623 was 2.5% of the Fund's share of 2624. The Fund's share of 2625 was 2.5% of the Fund's share of 2626. The Fund's share of 2627 was 2.5% of the Fund's share of 2628. The Fund's share of 2629 was 2.5% of the Fund's share of 2630. The Fund's share of 2631 was 2.5% of the Fund's share of 2632. The Fund's share of 2633 was 2.5% of the Fund's share of 2634. The Fund's share of 2635 was 2.5% of the Fund's share of 2636. The Fund's share of 2637 was 2.5% of the Fund's share of 2638. The Fund's share of 2639 was 2.5% of the Fund's share of 2640. The Fund's share of 2641 was 2.5% of the Fund's share of 2642. The Fund's share of 2643 was 2.5% of the Fund's share of 2644. The Fund's share of 2645 was 2.5% of the Fund's share of 2646. The Fund's share of 2647 was 2.5% of the Fund's share of 2648. The Fund's share of 2649 was 2.5% of the Fund's share of 2650. The Fund's share of 2651 was 2.5% of the Fund's share of 2652. The Fund's share of 2653 was 2.5% of the Fund's share of 2654. The Fund's share of 2655 was 2.5% of the Fund's share of 2656. The Fund's share of 2657 was 2.5% of the Fund's share of 2658. The Fund's share of 2659 was 2.5% of the Fund's share of 2660. The Fund's share of 2661 was 2.5% of the Fund's share of 2662. The Fund's share of 2663 was 2.5% of the Fund's share of 2664. The Fund's share of 2665 was 2.5% of the Fund's share of 2666. The Fund's share of 2667 was 2.5% of the Fund's share of 2668. The Fund's share of 2669 was 2.5% of the Fund's share of 2670. The Fund's share of 2671 was 2.5% of the Fund's share of 2672. The Fund's share of 2673 was 2.5% of the Fund's share of 2674. The Fund's share of 2675 was 2.5% of the Fund's share of 2676. The Fund's share of 2677 was 2.5% of the Fund's share of 2678. The Fund's share of 2679 was 2.5% of the Fund's share of 2680. The Fund's share of 2681 was 2.5% of the Fund's share of 2682. The Fund's share of 2683 was 2.5% of the Fund's share of 2684. The Fund's share of 2685 was 2.5% of the Fund's share of 2686. The Fund's share of 2687 was 2.5% of the Fund's share of 2688. The Fund's share of 2689 was 2.5% of the Fund's share of 2690. The Fund's share of 2691 was 2.5% of the Fund's share of 2692. The Fund's share of 2693 was 2.5% of the Fund's share of 2694. The Fund's share of 2695 was 2.5% of the Fund's share of 2696. The Fund's share of 2697 was 2.5% of the Fund's share of 2698. The Fund's share of 2699 was 2.5% of the Fund's share of 2700. The Fund's share of 2701 was 2.5% of the Fund's share of 2702. The Fund's share of 2703 was 2.5% of the Fund's share of 2704. The Fund's share of 2705 was 2.5% of the Fund's share of 2706. The Fund's share of 2707 was 2708. The Fund's share of 2708. The Fund's share of 2709 was 2709. The Fund's share of 2710. The Fund's share of 2711 was 2.5% of the Fund's share of 2712. The Fund's share of 2713 was 2.5% of the Fund's share of 2714. The Fund's share of 2715 was 2.5% of the Fund's share of 2716. The Fund's share of 2717 was 2.5% of the Fund's share of 2718. The Fund's share of 2719 was 2.5% of the Fund's share of 2720. The Fund's share of 2721 was 2.5% of the Fund's share of 2722. The Fund's share of 2723 was 2.5% of the Fund's share of 2724. The Fund's share of 2725 was 2.5% of the Fund's share of 2726. The Fund's share of 2727 was 2.5% of the Fund's share of 2728. The Fund's share of 2729 was 2.5% of the Fund's share of 2730. The Fund's share of 2731 was 2.5% of the Fund's share of 2732. The Fund's share of 2733 was 2.5% of the Fund's share of 2734. The Fund's share of 2735 was 2.5% of the Fund's share of 2736. The Fund's share of 2737 was 2.5% of the Fund's share of 2738. The Fund's share of 2739 was 2.5% of the Fund's share of 2740. The Fund's share of 2741 was 2.5% of the Fund's share of 2742. The Fund's share of 2743 was 2.5% of the Fund's share of 2744. The Fund's share of 2745 was 2.5% of the Fund's share of 2746. The Fund's share of 2747 was 2.5% of the Fund's share of 2748. The Fund's share of 2749 was 2.5% of the Fund's share of 2750. The Fund's share of 2751 was 2.5% of the Fund's share of 2752. The Fund's share of 2753 was 2.5% of the Fund's share of 2754. The Fund's share of 2755 was 2.5% of the Fund's share of 2756. The Fund's share of 2757 was 2.5% of the Fund's share of 2758. The Fund's share of 2759 was 2.5% of the Fund's share of 2760. The Fund's share of 2761 was 2.5% of the Fund's share of 2762. The Fund's share of 2763 was 2.5% of the Fund's share of 2764. The Fund's share of 2765 was 2.5% of the Fund's share of 2766. The Fund's share of 2767 was 2.5% of the Fund's share of 2768. The Fund's share of 2769 was 2.5% of the Fund's share of 2770. The Fund's share of 2771 was 2.5% of the Fund's share of 2772. The Fund's share of 2773 was 2.5% of the Fund's share of 2774. The Fund's share of 2775 was 2.5% of the Fund's share of 2776. The Fund's share of 2777 was 2.5% of the Fund's share of 2778. The Fund's share of 2779 was 2.5% of the Fund's share of 2780. The Fund's share of 2781 was 2.5% of the Fund's share of 2782. The Fund's share of 2783 was 2.5% of the Fund's share of 2784. The Fund's share of 2785 was 2.5% of the Fund's share of 2786. The Fund's share of 2787 was 2.5% of the Fund's share of 2788. The Fund's share of 2789 was 2.5% of the Fund's share of 2790. The Fund's share of 2791 was 2.5% of the Fund's share of 2792. The Fund's share of 2793 was 2.5% of the Fund's share of 2794. The Fund's share of 2795 was 2.5% of the Fund's share of 2796. The Fund's share of 2797 was 2.5% of the Fund's share of 2798. The Fund's share of 2799 was 2.5% of the Fund's share of 2800. The Fund's share of 2801 was 2.5% of the Fund's share of 2802. The Fund's share of 2803 was 2.5% of the Fund's share of 2804. The Fund's share of 2805 was 2.5% of the Fund's share of 2806. The Fund's share of 2807 was 2.5% of the Fund's share of 2808. The Fund's share of 2809 was 2.5% of the Fund's share of 2810. The Fund's share of 2811 was 2.5% of the Fund's share of 2812. The Fund's share of 2813 was 2.5% of the Fund's share of 2814. The Fund's share of 2815 was 2.5% of the Fund's share of 2816. The Fund's share of 2817 was 2.5% of the Fund's share of 2818. The Fund's share of 2819 was 2.5% of the Fund's share of 2820. The Fund's share of 2821 was 2.5% of the Fund's share of 2822. The Fund's share of 2823 was 2.5% of the Fund's share of 2824. The Fund's share of 2825 was 2.5% of the Fund's share of 2826. The Fund's share of 2827 was 2.5% of the Fund's share of 2828. The Fund's share of 2829 was 2.5% of the Fund's share of 2830. The Fund's share of 2831 was 2.5% of the Fund's share of 2832. The Fund's share of 2833 was 2.5% of the Fund's share of 2834. The Fund's share of 2835 was 2.5% of the Fund's share of 2836. The Fund's share of 2837 was 2.5% of the Fund's share of 2838. The Fund's share of 2839 was 2.5% of the Fund's share of 2840. The Fund's share of 2841 was 2.5% of the Fund's share of 2842. The Fund's share of 2843 was 2.5% of the Fund's share of 2844. The Fund's share of 2845 was 2.5% of the Fund's share of 2846. The Fund's share of 2847 was 2.5% of the Fund's share of 2848. The Fund's share of 2849 was 2.5% of the Fund's share of 2850. The Fund's share of 2851 was 2.5% of the Fund's share of 2852. The Fund's share of 2853 was 2.5% of the Fund's share of 2854. The Fund's share of 2855 was 2.5% of the Fund's share of 2856. The Fund's share of 2857 was 2.5% of the Fund's share of 2858. The Fund's share of 2859 was 2.5% of the Fund's share of 2860. The Fund's share of 2861 was 2.5% of the Fund's share of 2862. The Fund's share of 2863 was 2.5% of the Fund's share of 2864. The Fund's share of 2865 was 2.5% of the Fund's share of 2866. The Fund's share of 2867 was 2.5% of the Fund's share of 2868. The Fund's share of 2869 was 2.5% of the Fund's share of 2870. The Fund's share of 2871 was 2.5% of the Fund's share of 2872. The Fund's share of 2873 was 2.5% of the Fund's share of 2874. The Fund's share of 2875 was 2.5% of the Fund's share of 2876. The Fund's share of 2877 was 2.5% of the Fund's share of 2878. The Fund's share of 2879 was 2.5% of the Fund's share of 2880. The Fund's share of 2881 was 2.5% of the Fund's share of 2882. The Fund's share of 2883 was 2.5% of the Fund's share of 2884. The Fund's share of 2885 was 2.5% of the Fund's share of 2886. The Fund's share of 2887 was 2.5% of the Fund's share of 2888. The Fund's share of 2889 was 2.5% of the Fund's share of 2890. The Fund's share of 2891 was 2.5% of the Fund's share of 2892. The Fund's share of 2893 was 2.5% of the Fund's share of 2894. The Fund's share of 2895 was 2.5% of the Fund's share of 2896. The Fund's share of 2897 was 2.5% of the Fund's share of 2898. The Fund's share of 2899 was 2.5% of the Fund's share of 2900. The Fund's share of 2901 was 2.5% of the Fund's share of 2902. The Fund's share of 2903 was 2.5% of the Fund's share of 2904. The Fund's share of 2905 was 2.5% of the Fund's share of 2906. The Fund's share of 2907 was 2.5% of the Fund's share of 2908. The Fund's share of 2909 was 2.5% of the Fund's share of 2910. The Fund's share of 2911 was 2.5% of the Fund's share of 2912. The Fund's share of 2913 was 2.5% of the Fund's share of 2914. The Fund's share of 2915 was 2.5% of the Fund's share of 2916. The Fund's share of 2917 was 2.5% of the Fund's share of 2918. The Fund's share of 2919 was 2.5% of the Fund's share of 2920. The Fund's share of 2921 was 2.5% of the Fund's share of 2922. The Fund's share of 2923 was 2.5% of the Fund's share of 2924. The Fund's share of 2925 was 2.5% of the Fund's share of 2926. The Fund's share of 2927 was 2.5% of the Fund's share of 2928. The Fund's share of 2929 was 2.5% of the Fund's share of 2930. The Fund's share of 2931 was 2.5% of the Fund's share of 2932. The Fund's share of 2933 was 2.5% of the Fund's share of 2934. The Fund's share of 2935 was 2.5% of the Fund's share of 2936. The Fund's share of 2937 was 2.5% of the Fund's share of 2938. The Fund's share of 2939 was 2.5% of the Fund's share of 2940. The Fund's share of 2941 was 2.5% of the Fund's share of 2942. The Fund's share of 2943 was 2.5% of the Fund's share of 2944. The Fund's share of 2945 was 2.5% of the Fund's share of 2946. The Fund's share of 2947 was 2.5% of the Fund's share of 2948. The Fund's share of 2949 was 2.5% of the Fund's share of 2950. The Fund's share of 2951 was 2.5% of the Fund's share of 2952. The Fund's share of 2953 was 2.5% of the Fund's share of 2954. The Fund's share of 2955 was 2.5% of the Fund's share of 2956. The Fund's share of 2957 was 2.5% of the Fund's share of 2958. The Fund's share of 2959 was 2.5% of the Fund's share of 2960. The Fund's share of 2961 was 2.5% of the Fund's share of 2962. The Fund's share of 2963 was 2.5% of the Fund's share of 2964. The Fund's share of 2965 was 2.5% of the Fund's share of 2966. The Fund's share of 2967 was 2.5% of the Fund's share of 2968. The Fund's share of 2969 was 2.5% of the Fund's share of 2970. The Fund's share of 2971 was 2.5% of the Fund's share of 2972. The Fund's share of 2973 was 2.5% of the Fund's share of 2974. The Fund's share of 2975 was 2.5% of the Fund's share of 2976. The Fund's share of 2977 was 2.5% of the Fund's share of 2978. The Fund's share of 2979 was 2.5% of the Fund's share of 2980. The Fund's share of 2981 was 2.5% of the Fund's share of 2982. The Fund's share of 2983 was 2.5% of the Fund's share of 2984. The Fund's share of 2985 was 2.5% of the Fund's share of 2986. The Fund's share of 2987 was 2.5% of the Fund's share of 2988. The Fund's share of 2989 was 2.5% of the Fund's share of 2990. The Fund's share of 2991 was 2.5% of the Fund's share of 2992. The Fund's share of 2993 was 2.5% of the Fund's share of 2994. The Fund's share of 2995 was 2.5% of the Fund's share of 2996. The Fund's share of 2997 was 2.5% of the Fund's share of 2998. The Fund's share of 2999 was 2.5% of the Fund's share of 3000. The Fund's share of 3001 was 2.5% of the Fund's share of 3002. The Fund's share of 3003 was 2.5% of the Fund's share of 3004. The Fund's share of 3005 was 2.5% of the Fund's share of 3006. The Fund's share of 3007 was 2.5% of the Fund's share of 3008. The Fund's share of 3009 was 2.5% of the Fund's share of 3010. The Fund's share of 3011 was 2.5% of the Fund's share of 3012. The Fund's share of 3013 was 2.5% of the Fund's share of 3014. The Fund's share of 3015 was 2.5% of the Fund's share of 3016. The Fund's share of 3017 was 2.5% of the Fund's share of 3018. The Fund's share of 3019 was 2.5% of the Fund's share of 3020. The Fund's share of 3021 was 2.5% of the Fund's share of 3022. The Fund's share of 3023 was 2.5% of the Fund's share of 3024. The Fund's share of 3025 was 2.5% of the Fund's share of 3026. The Fund's share of 3027 was 2.5% of the Fund's share of 3028. The Fund's share of 3029 was 2.5% of the Fund's share of 3030. The Fund's share of 3031 was 2.5% of the Fund's share of 3032. The Fund's share of 3033 was 2.5% of the Fund's share of 3034. The Fund's share of 3035 was 2.5% of the Fund's share of 3036. The Fund's share of 3037 was 2.5% of the Fund's share of 3038. The Fund's share of 3039 was 2.5% of the Fund's share of 3040. The Fund's share of 3041 was 2.5% of the Fund's share of 3042. The Fund's share of 3043 was 2.5% of the Fund's share of 3044. The Fund's share of 3045 was 2.5% of the Fund's share of 3046. The Fund's share of 3047 was 2.5% of the Fund's share of 3048. The Fund's share of 3049 was 2.5% of the Fund's share of 3050. The Fund's share of 3051 was 2.5% of the Fund's share of 3052. The Fund's share of 3053 was 2.5% of the Fund's share of 3054. The Fund's share of 3055 was 2.5% of the Fund's share of 3056. The Fund's share of 3057 was 2.5% of the Fund's share of 3058. The Fund's share of 3059 was 2.5% of the Fund's share of 3060. The Fund's share of 3061 was 2.5% of the Fund's share of 3062. The Fund's share of 3063 was 2.5% of the Fund's share of 3064. The Fund's share of 3065 was 2.5% of the Fund's share of 3066. The Fund's share of 3067 was 2.5% of the Fund's share of 3068. The Fund's share of 3069 was 2.5% of the Fund's share of 3070. The Fund's share of 3071 was 2.5% of the Fund's share of 3072. The Fund's share of 3073 was 2.5% of the Fund's share of 3074. The Fund's share of 3075 was 2.5% of the Fund's share of 3076. The Fund's share of 3077 was 2.5% of the Fund's share of 3078. The Fund's share of 3079 was 2.5% of the Fund's share of 3080. The Fund's share of 3081 was 2.5% of the Fund's share of 3082. The Fund's share of 3083 was 2.5% of the Fund's share of 3084. The Fund's share of 3085 was 2.5% of the Fund's share of 3086. The Fund's share of 3087 was 2.5% of the Fund's share of 3088. The Fund's share of 3089 was 2.5% of the Fund's share of 3090. The Fund's share of 3091 was 2.5% of the Fund's share of 3092. The Fund's share of 3093 was 2.5% of the Fund's share of 3094. The Fund's share of 3095 was 2.5% of the Fund's share of 3096. The Fund's share of 3097 was 2.5% of the Fund's share of 3098. The Fund's share of 3099 was 2.5% of the Fund's share of 3100. The Fund's share of 3101 was 2.5% of the Fund's share of 3102. The Fund's share of 3103 was 2.5% of the Fund's share of 3104. The Fund's share of 3105 was 2.5% of the Fund's share of 3106. The Fund's share of 3107 was 2.5% of the Fund's share of 3108. The Fund's share of 3109 was 2.5% of the Fund's share of 3

Portland, Oregon, according to the U.S. Dollar Index (DXY 12/3 Index), than where it began.

Korean won, Chinese yuan, Indonesian rupiah, Indian rupee and Singapore dollar, while holding an underweight in the Japanese yen. We closed our exposure to the Japanese

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31, [31, 559, 145, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31, [31, [31, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539, 539"}][{"box, [31, [31, [31, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31, [31, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31, [31, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31, [31, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31, 52, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31, [31, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31, [31, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31,,,, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box, [31, [31,,,, [31, 539, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50, $50"}]

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.

The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation. The first generation of the world's first 100% generation of yen in March 2022, primarily due to expected depreciation.[{"box_2d": [31, 52, 559, 145], "label": "text", "caption": "The first generation of the world's first

Short term investments in China and Australia. 1.5% of the consolidated provider.

Includes foreign government and agency securities, money market funds and other investment services.

The annual report for Templeton Global Total Return Fund

in the Company's direct investment management. Currency

investment. The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures.

The Company's credit exposures had largely neutral

subsequently weakened significantly, we re-established a position in the Japanese yen, and reduced exposure in Chinese yuan, Indonesian rupiah and Singapore dollar. We

investment strategy

The Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

the effects of the Company's credit exposures had largely neutral

The order is unchanged and includes remeasurement of any income or distributions. It does not reflect any fees, expenses or sales charges. One cannot invest directly in an index, and an index is not representative of the Fund's portfolio.

See www.fund.com/competition/assessments.com for additional data provider information.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund's Schedule of Investments (SDI).

The SDI begins on page 44.

10 Annual Report

funds/monopar

1. Source: Montague

1. Source: Montague

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1. Source: Montague

1. Source: Montague

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1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

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1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

1. Source: Montague

upon our assessment of changing market, political and
the Fund's actual return. This information may be used to estimate the actual ending account balance or expenses

held overweight positions in the Norwegian krone and the
best of the Fund's actual return. The Fund's actual return is based on the
sumption of the Fund's actual return. The Fund's actual return is based on the
sumption of the Fund's actual return.

The Fund's actual return is based on the Fund's actual return. The Fund's actual return is based on the Fund's actual return.

TEMPLETON GLOBAL TOTAL RETURN FUND

yuan, Indonesian rupiah and Indian rupee and closed

On a relative basis, during the period under review, the

BankInterpolation.com

Annual Report

11

or corporate issuers worldwide (collectively, "bonds"). Bonds may be denominated and issued in the local currency or in another currency. Bonds include debt securities of any maturity, such as bonds, notes, bills and debentures.

# Geographic Composition
12/31/22

The performance of the Company's operations in Egypt and America is based on the results of the Company's operations in Egypt and America. The Company's operations in Egypt and America are based on the results of the Company's operations in Egypt and America. The Company's operations in Egypt and America are based on the results of the Company's operations in Egypt and America. The Company's operations in Egypt and America are based on the results of the Company's operations in Egypt and America. The Company's operations in Egypt and America are based on the results of the Company's operations in Egypt and America. The Company's operations in Egypt and America are based on the results of the Company's operations in Egypt

Therefore, information under the heading "Hypothetical" is useful in comparing ongoing costs only, and will not help you increase your costs of ongoing different funds. In addition, if transactional costs were included, your total costs would have

Performance as of 12/31/22

TEMPLETON GLOBAL TOTAL RETURN FUND

# Performance Summary as of December 31, 2022

The performance table and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain.

12 | Annual Report

franklinengreen.com

See page 14 for Performance Summary footnotes.

![img-0.jpeg](img-0.jpeg)

Total Return Index Comparison for a Hypothetical $10,000 Investment1

![img-1.jpeg](img-1.jpeg)

MarkInterpolation.com

Annual Report 13

See page 14 for Performance Summary footnotes.

# PERFORMANCE SUMMARY

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when the market is down. On the date, the portfolio is a significant increase in the market's performance. The market is a significant increase in the market's performance. The market is a significant increase in the market's performance. The market is a significant increase in the market's performance. The market is a significant increase in the market's performance.

1. Expenses are equal to the actual cost expense ratio for the six-month period as indicated above-in the for right volume-multiplied by the simple average account value.

Advantage is a most induced, and then multiplied by 100,000 to reflect the one half year period.

2. Reflects expenses after the waivers and expense reimbursements. Does not include acquired liabilities and expenses.

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TEMPLETON GLOBAL TOTAL RETURN FUND

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**Portfolio Composition**
12/31/22

preference for the higher yields available in select emerging market local-currency bonds, notably including Indonesia, India, Thailand, Brazil, and Colombia.

At the beginning of the period, the Fund held overweight 1,554,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000.

and extended duration in Brazil. We opened a new USD-1,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000. At the beginning of the period, the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.

and the Fund held overweight 1,554,000,000.[{"box_2d":

Other 0.0% Korean won, Chinese yuan, Indonesian rupiah, Indian rupee and Singapore dollar, while holding an underweight in the Japanese yen. We closed our exposure to the Japanese yen in March 2022. We were not to be able to pay the Japanese yen in March 2022. We were not to be able to pay the Japanese yen in March 2022. We were not to be able to pay the Japanese yen in March 2022. We were not to be able to pay the Japanese yen in March 2022. We were not to be able to pay the Japanese yen in March 2022. We were not to be able to pay the Japanese yen in March 2022.

## Templeton International Bond Fund

The index is unchanged and includes remeasurement of any income or distributions. It does not reflect any fees, expenses or sales charges. One cannot invest directly in an index, and an index is not representative of the Fund's portfolio.
See www.fundcenterpointbank.com for additional data provided information.
The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund's Schedule of Investments (SDI).
The SDI begins on page 56.

18 | Annual Report

fundcenterpointbank.com

1. Source: Morningstar

The Fund seeks current income with capital appreciation and growth of income. Under normal market conditions, the Fund invests at least 80% of its net assets in bonds

instruments, principally currency and cross-currency products in the Caribbean and also associated new exposure contracts, but a may also rate currency and currency index in Caribbean, except the reduced exchange of the relevant futures contracts and currency options. The Fund may also

enter into various other transactions involving derivatives

and other financial instruments. The Fund is not subject to any financial events, and may not be subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events. The Fund is not subject to any financial events.

TEMPLETON INTERNATIONAL BOND FUND

Australian dollar which had been used to hedge against

positions in the Colombian peso, Argentine peso, Indonesian

BankInterpolation.com

Annual Report

17

debt obligations of any maturity, such as bonds, notes, bills and debentures. The Fund invests predominantly in bonds issued by governments, government-related entities and government agencies located outside of the U.S.

# **Geographic Composition**
12/31/22

As of the 12/31/22, the Fund is a member of the United States, and the potential for wider conflict, and the potential for wider conflict, and the potential for wider conflict. The Fund is a member of the United States, and the potential for wider conflict, and the potential for wider conflict.

Therefore, information under the heading 'Hypothetical' is useful in comparing ongoing costs only, and will not help you improve your costs of ongoing different funds. In addition, if transactional costs were included, your total costs would have

**Performance as of 12/31/22**

TEMPLETON INTERNATIONAL BOND FUND

# **Performance Summary as of December 31, 2022**

The performance table and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain.

18 | Annual Report

fund@geographic.com

See page 20 for Performance Summary footnotes.

![img-0.jpeg](img-0.jpeg)

Total Return Index Comparison for a Hypothetical $10,000 Investment1

![img-1.jpeg](img-1.jpeg)

MarkS\templation.com

Annual Report

13

See page 20 for Performance Summary footnotes.

## Performance Overview

For the 12 months under review, the Fund's Class A shares posted a -5.90% cumulative total return. In comparison, the

The Fund's Class A shares posted a -5.90% cumulative total return. In comparison, the
The Fund's Class A shares posted a -5.90% cumulative total return. In comparison, the
The Fund's Class A shares posted a -5.90% cumulative total return.

1. Expenses are equal to the annualized expense ratio for the currently period as indicated above-at the for right volume-multiplied by the simple average account value
2. Reflects expenses after the waivers and expense reimbursements. Costs will include acquired incentives and expenses.

TEMPLETON INTERNATIONAL BOND FUND

28

Annual Report

fund@templeton.com

markets, posted a cumulative total return of -22.07% in U.S. dollar terms for the same period.1 You can find more of the Fund's performance data in the Performance Summary beginning on page 18.

The Fund's performance data in the Performance Summary beginning on page 18.

The Fund's performance data in the Performance Summary beginning on page 18.

The Fund's performance data in the Performance Summary beginning on page 18.

The Fund's performance data in the Performance Summary beginning on page 18.

The Fund's performance data in the Performance Summary beginning on page 18.

The Fund's performance data in the Performance Summary beginning on page 18.

The Fund's performance data in the Performance Summary beginning on page 18.

India, Thailand, Brazil, and Colombia.

At the beginning of the period, the Fund held overweight positions in specific currencies against the USD and the euro. In Asia, we held notable exposures to the South Korean won, Chinese yuan, Indonesian rupiah, Indian hone, and Singapore dollar, while holding an performance in the South Korean won, Chinese yuan, and Singapore dollar, while holding an performance in the South Korean won, Chinese yuan, and Singapore dollar, while holding an performance in the South Korean won, Chinese yuan, and Singapore dollar, while holding an performance in the South Korean won, Chinese yuan, and Singapore dollar, while holding an performance in the South Korean won, Chinese yuan, and Singapore dollar, while holding an performance in the South Korean won, Chinese yuan, and Singapore dollar, while holding an performance in the South Korean won

For most recent month-end performance, go to franklintempleton.com or call (800) 342-5236.

# Actual Fund Expenses

TEMPLETON INTERNATIONAL BOND FUND

## Your Fund's Expenses

As a Fund shareholder, you can incur two types of costs: (1) transaction costs, including sales charges (loads) on Fund

![img-2.jpeg](img-2.jpeg)

franklintempleton.com

Annual Report

21

[{"box_2d": [31, 24, 561, 142], "label": "text", "caption": "value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to the following: (1) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (2) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (3) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (4) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (5) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (6) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (7) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (8) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (9) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (10) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (11) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (12) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (13) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (14) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (15) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (16) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (17) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (18) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (19) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (20) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (21) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (22) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (23) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (24) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (25) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (26) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (27) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (28) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (29) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (30) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (31) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (32) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (33) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (34) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (35) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (36) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (37) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (38) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (39) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (40) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (41) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (42) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (43) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (44) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (45) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (46) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (47) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (48) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (49) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (50) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (51) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (52) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (53) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (54) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (55) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (56) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (57) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (58) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (59) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (60) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (61) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (62) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (63) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (64) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (65) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (66) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (67) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (68) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (69) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (70) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (71) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (72) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (73) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (74) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (75) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (76) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (77) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (78) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (79) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (80) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (81) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (82) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (83) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (84) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (85) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (86) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (87) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (88) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (89) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (90) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (91) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (92) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (93) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (94) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (95) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (96) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (97) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (98) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (99) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (100) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (101) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (102) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (103) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (104) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (105) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (106) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (107) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (108) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (109) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (110) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (111) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (112) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (113) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (114) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (115) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (116) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (117) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (118) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (119) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (120) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (121) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (122) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (123) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (124) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (125) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (126) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (127) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (128) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (129) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (130) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (131) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (132) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (133) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (134) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (135) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (136) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (137) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (138) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (139) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (140) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (141) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (142) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (143) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (144) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (145) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (146) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (147) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (148) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (149) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (150) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (151) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (152) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (153) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (154) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (155) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (156) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (157) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (158) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (159) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (160) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (161) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (162) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (163) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (164) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (165) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (166) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (167) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (168) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (169) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (170) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (171) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (172) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (173) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (174) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (175) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (176) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (177) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (178) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (179) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (180) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (181) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (182) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (183) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (184) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (185) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (186) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (187) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (188) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (189) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (190) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (191) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (192) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (193) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (194) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (195) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (196) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (197) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (198) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (199) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (200) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (201) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (202) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (203) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (204) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (205) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (206) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (207) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (208) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (209) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (210) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (211) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (212) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (213) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (214) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (215) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (216) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (217) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (218) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (219) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (220) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (221) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (222) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (223) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (224) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (225) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (226) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (227) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (228) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (229) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (230) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (231) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (232) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (233) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (234) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (235) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (236) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (237) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (238) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (239) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (240) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (241) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (242) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (243) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (244) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (245) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (246) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (247) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (248) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (249) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (250) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (251) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (252) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (253) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (254) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (255) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (256) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (257) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (258) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (259) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (260) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (261) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (262) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (263) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (264) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (265) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (266) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (267) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (268) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (269) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (270) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (271) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (272) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (273) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (274) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (275) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (276) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (277) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (278) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (279) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (280) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (281) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (282) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (283) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (284) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (285) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (286) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (287) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (288) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (289) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (290) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (291) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (292) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (293) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (294) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (295) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (296) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (297) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (298) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (299) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (300) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (301) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (302) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (303) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (304) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (305) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (306) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (307) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (308) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (309) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (310) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (311) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (312) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (313) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (314) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (315) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (316) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (317) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (318) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (319) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (320) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (321) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (322) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (323) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (324) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (325) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (326) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (327) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (328) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (329) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (330) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (331) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (332) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (333) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (334) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (335) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (336) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (337) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (338) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (339) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (340) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (341) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (342) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (343) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (344) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (345) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (346) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (347) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (348) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (349) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (350) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (351) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (352) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (353) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (354) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (355) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (356) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (357) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (358) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (359) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (360) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (361) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (362) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (363) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (364) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (365) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (366) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (367) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (368) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (369) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (370) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (371) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (372) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (373) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (374) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (375) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (376) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (377) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (378) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (379) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (380) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (381) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (382) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (383) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (384) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (385) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (386) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (387) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (388) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (389) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (390) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (391) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (392) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (393) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (394) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (395) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (396) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (397) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (398) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (399) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (400) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (401) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (402) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (403) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (404) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (405) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (406) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (407) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (408) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (409) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (410) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (411) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (412) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (413) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (414) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (415) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (416) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (417) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (418) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (419) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (420) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (421) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (422) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (423) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (424) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (425) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (426) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (427) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (428) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (429) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (430) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (431) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (432) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (433) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (434) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (435) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (436) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (437) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (438) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (439) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (440) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (441) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (442) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (443) The Fund's duration exposure in Argentina is estimated at 30 months, while its position in South Africa is estimated at 30 months. (444) The Fund's duration exposure in Argentina is estimated at 30 months

We invest selectively in any U.S. bonds around the world. Our U.S. is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

The Fund is a member of the United States, and the United Kingdom is a member of the United States.

the Chinese yuan, Indonesian rupiah, Indian rupee and

China, and the United States are not only one of the U.S.

you sell your shares. Current performance may differ from

figures shown. For most recent month-end performance, go

to the following table:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

The following table provides the information in a tabular format:

25

projected sustainability efforts of emerging market countries in certain environmental, social and governance (ESG) categories. For purposes of the Fund's 60% policy, bonds issued by entities located in emerging markets countries

Over the 12-month period ending December 31, 2022, as prospects were improving for the global economy, which was emerging from the worst of the pandemic slowdown, the 2022 financial crisis in the United States. The Fund's 2022-23 financial crisis in the United States was a significant increase in the 2022 financial crisis in the United States. The Fund's 2022-23 financial crisis in the United States was a significant increase in the 2022 financial crisis in the United States. The Fund's 2022-23 financial crisis in the United States was a significant increase in the 2022 financial crisis in the United States. The Fund's 2022-23 financial crisis in the United States was a significant increase in the 2022 financial crisis in the

TEMPLETON SUSTAINABLE EMERGING MARKETS BOND FUND

market, country, industry, security or the Fund. Statements of

24

Annual Report

fund@emgmeon.com

**Portfolio Composition**
12/31/22

% of Total Net Assets

yields, a stronger U.S. dollar (USD), and weakening global growth-were thus in the shadow of (and in some instances exacerbated by) the war.

Performance as of 12/31/22

TEMPLETON SUSTAINABLE EMERGING MARKETS BOND FUND

# Performance Summary as of December 31, 2022

The performance table and graphs do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain

Nortontempleton.com

Annual Report | 25

See page 27 for Performance Summary footnotes.

![img-3.jpeg](img-3.jpeg)

Total Return Index Comparison for a Hypothetical $10,000 Investment1

![img-4.jpeg](img-4.jpeg)

See page 17 for Performance Summary footnotes.

28

Annual Report

franklecompaeon.com

posted a -10.51% cumulative total return. In comparison, U.S. dollar-denominated emerging market bonds, as measured by the Fund's new benchmark, the J.P. Morgan (JPM) Developmental Index Emerging Markets (GIB-EM) Global Diversified Index, posted a -11.98% cumulative total return in U.S. dollar terms for the same period.1 The

early movers, particularly in Latin America, have paused hiking rates and even signalled that rates may have peaked, as have some banks in eastern Europe. That said, most also appear willing to keep rates at high levels until they are most controlled. The Bank's annual earnings of 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043, 2044, 2045, 2046, 2047, 2048, 2049, 2050, 2051, 2052, 2053, 2054, 2055, 2056, 2057, 2058, 2059, 2060, 2061, 2062, 2063, 2064, 2065, 2066, 2067, 2068, 2069, 2070, 2071, 2072, 2073, 2074, 2075, 2076, 2077, 2078, 2079, 2080, 2081, 2082, 2083, 2084, 2085, 2086, 2087, 2088, 2089, 2090, 2091, 2092, 2093, 2094, 2095, 2096, 2097, 2098, 2099, 2100

# **Manager's Discussion**

In 2018, we continued to maintain low portfolio duration, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043, 2044, 2045, 2046, 2047, 2048, 2049, 2050, 2051, 2052, 2053, 2054, 2055, 2056, 2057, 2058, 2059, 2060, 2061, 2062, 2063, 2064, 2065, 2066, 2067, 2068, 2069, 2070, 2071, 2072, 2073, 2074, 2075, 2076, 2077, 2078, 2079, 2080, 2081, 2082, 2083, 2084, 2085, 2086, 2087, 2088, 2089, 2090, 2091, 2092, 2093, 2094, 2095, 2096, 2097, 2098, 2099, 2100

**Adviser**
1-Year -10.28% -10.28%

TEMPLETON SUSTAINABLE EMERGING MARKETS BOND FUND

BankStempleton.com

Annual Report | 27

Fund's prior benchmark, the J.P. Morgan (JPM) Emerging Markets Bond Index (EMBI) Global Index, posted a -16.45% cumulative total return in U.S. dollar terms for the same period. The JPM GBI-EM Global Diversified Index is

reported by the JPM Global Index as the Fund's annual benchmark. The JPM Global Index is the first annual market benchmark, which includes the investment market. The benchmark is based on the benchmark's performance, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

## Your Fund's Expenses

As a Fund shareholder, you can incur two types of costs: (1) transaction costs, including sales charges (loads) on Fund

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The JPM Global Index is the first annual market benchmark, which includes the investment market's performance, and the benchmark's performance.

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth[{"box, [291, [291, 204, [291, 224, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, 284, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, 284, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, 284, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, 284, and the U.S. growth"}][{"box, [291, [291, [291, [291, [291, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, 284, and the U.S. growth"}][{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, 304, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, 324, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth[{"box, [291, [291, [291, [291, 284, and the U.S. growth"}]

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth benefited from post-pandemic reopening) and the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

The USD gained significantly against almost all other currencies in 2022, supported by hawkish U.S. Federal Reserve (Fed) policy, growth differentials were in favor of the U.S. (as U.S. growth

28

Annual Report

Franklintempleton.com

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| Noted our underweight position in the Australian dollar which | Portfolio Management Team | 1.19% | 2.77% |
| --- | --- | --- | --- |
| Net investment income |  | 0.90% | 2.52% |
| The total value of products and services sold at the current market, and not yet yet fully paid for the current market. |  |  |  |
| Actual cost for shipments was also included significantly in the market. |  |  |  |
| The company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share |  |  |  |
| The company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share |  |  |  |
| The company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share of the company's share |  |  |  |

TEMPLETON INCOME TRUST

## Financial Highlights

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-ordered bonds, and/or fluctuating fair value of the investments of the Fund.
Based on average daily shares outstanding.
Total return does not reflect sales commissions or contingent deferred sales charges, if applicable.
Benefit of superior valuation counts in less than 0.01%.

Nortontempleton.com

The accompanying notes are an integral part of these financial statements. Annual Report

28

FINANCIAL HIGHLIGHTS

lating to debt securities and foreign securities generally, including, but not limited to, the risk that a government entity may be unwilling or unable to pay interest and may have perceived the benefit of the government's ability to pay interest. The Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

TEMPLETON INCOME TRUST

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-referred bonds, and/or fluctuating fair value of the investments of the Fund.
Based on average daily shares outstanding.
Total return does not reflect sales commissions or contingent deferred sales charges, if applicable.
Benefit of waiver and payments by affiliates' assets to less than 0.01%.
Benefit of expense reduction assets to less than 0.01%.

30 | Annual Report. The accompanying notes are an integral part of those financial statements. franklin@compton.com

FINANCIAL HIGHLIGHTS

share price may decline. Changes in the financial strength of a bond issuer or in a bond's credit rating may affect its value. Investments in lower relief securities include higher costs of default and loss of principal income such as the spread of deadly diseases, disasters, and financial, political or social disruptions, may result from a financial impact. The fund's prospects also includes a description of the debt investment risks.

The fund's financial strength of a bond issuer or in a bond's credit rating may affect its value. Investments in lower relief securities include higher costs of default and loss of principal income such as the spread of deadly diseases, disasters, and financial, political or social disruptions, may result from a financial impact. The fund's prospects also includes a description of the debt investment risks.

The fund's financial strength of a bond issuer or in a bond's credit rating may affect its value. Investments in lower relief securities include higher costs of default and loss of principal income such as the spread of deadly diseases, disasters, and financial, political or social disruptions, may result from a financial impact. The fund's prospects also includes a description of the debt investment risks.

The fund's financial strength of a bond issuer or in a bond's credit rating may affect its value. Investments in lower relief securities include higher costs of default and loss of principal income such as the spread of deadly diseases, disasters, and financial, political or social disruptions, may result from a financial impact. The fund's prospects also includes a description of the debt investment risks.

The fund's financial strength of a bond issuer or in a bond's credit rating may affect its value. Investments in lower relief securities include higher costs of default and loss of principal income such as the spread of deadly diseases, disasters, and financial, political or social disruptions, may result from a financial impact. The fund's prospects also includes a description of the debt investment risks.

TEMPLETON INCOME TRUST

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-induced bonds, and/or fluctuating fair value of the investments of the Fund.
Based on average daily shares outstanding.
Benefit of expense reduction rounds to less than $0.01%.

Fork0ttempleton.com

The accompanying notes are an integral part of these financial statements. Annual Report

31

FINANCIAL HIGHLIGHTS

consumer or purchaser preferences or cyberattacks on governments, companies or individuals, may further decrease the value and liquidity of certain Russian securities and securities of issuers in other countries that are subject to economic sanctions related to the invasion.

**Templeton Global Bond Fund (continued)**[{"box_2d": [31, 80, 560, 153], "label": "table", "caption": "

| Issued in the event of the Fund's loss on the Fund's total annual operating expenses as of the Fund's completion available at the time of publication, Actual expenses may be higher paid less than the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses, based on the amount of the Fund's total annual operating expenses | Actual | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Actual | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| Actual | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| Actual | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| Actual | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
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| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |
| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |

| Current | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
| --- | --- | --- | --- | --- | --- | --- |

<table><tr><th>Current</th><th>2017</th><th>2018</th><th>2019</th

FINANCIAL HIGHLIGHTS

6. Prior to 2020, these shares were offered at a higher index sales charge of 4.25%, then actual shares (with sales charges) would have differed. Average annual total shares (with sales charges) have been revised to reflect the current maximum retail sales charge of 3.75%.

**Templeton Global Bond Fund (TMMF)**

The TMMF is a limited investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment investment

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

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Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

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Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share

Total shares (in millions) are based on the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share of the Company's share[{"box_2d": [50, 985, 550, 997], "label": "text", "caption": "Total shares (in millions) are based on the Company's share of the Company's share of

# **Templeton Global Bond Fund**

|  | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total Unsecured and Unsecured gains (losses) | (0.70) | (0.58) | (0.45) | (0.41) | (0.07) |
| Total Unsecured and Unsecured gains (losses) | (0.70) | (0.58) | (0.45) | (0.41) | (0.07) |
| Total Unsecured and Unsecured gains (losses) | (0.70) | (0.58) | (0.45) | (0.41) | (0.07) |
| Total Unsecured and Unsecured gains (losses) | 0.58% | 0.63% | 0.58% | 0.57% | 0.59% |
| Total Unsecured and Unsecured gains (losses) | 0.52% | 0.58% | 0.58% | 0.48% | 0.49% |
| Net Unsecured and Unsecured gains (losses) | 4.56% | 4.88% | 4.42% | 5.44% | 5.30% |
| Net Unsecured and Unsecured gains (losses) | (0.43) | (0.50) | 433,764,000 | 691 | (0.68) |
| Net Unsecured and Unsecured gains (losses) | (0.43) | (0.50) | 426,481,000 | 691 | (0.68) |
| Net Unsecured and Unsecured gains (losses) | $688,345 | $944,583 | $1,273,179 | $1,407,296 | $1,004,618 |

TEMPLETON INCOME TRUST

# Schedule of Investments, December 31, 2022

34 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklinmpeon.com

SCHEDULE OF INVESTMENTS

# Templeton Global Bond Fund (continued)

| Period | 16.03% | 28.48% | 60.01% | Principal | 110,693,127 |
| --- | --- | --- | --- | --- | --- |
| Total | 16.03% | 28.48% | 60.01% | Principal | 110,693,127 |
| Columbus 4.8% |  |  |  | Amount | Value |
| Balance of earnings and equity |  |  |  |  |  |
| Expenditure of the Investment and Agency Securities (continued) |  |  |  |  |  |
| Expenditure of the Investment and Agency Securities (continued) | 0.72% | 0.72% | 0.69% | 0.67% | 0.69% |
| Expenditure of the Investment and Agency Securities (continued) | 0.69% | 0.71% | 0.831,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 | 0.80% | 1,384,390,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 |
| Net Investment and Agency Securities (continued) | 4.41% | 4.74% | 4.84% | 5.52% | 1,888,227,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 |
| Total Investment and Agency Securities (continued) |  |  |  |  |  |
| Total Investment and Agency Securities (continued) |  |  |  |  |  |
| Total Investment and Agency Securities (continued) |  |  |  |  |  |
| Total Investment and Agency Securities (continued) |  |  |  |  |  |

# TEMPLETON INCOME TRUST

www.templeton.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Annual Report

35

SCHEDULE OF INVESTMENTS

# Templeton Global Bond Fund (continued)

| Pre-Pre-Pre-Pre-Pre-Pre- | 16.01% | 28,649,972,321,100,000 | COP | 32.63% | 30,414,000,000 |
| --- | --- | --- | --- | --- | --- |
| Short Term Investments 31.1% |  | 91,769,000,000 | COP | 14,358,590 |  |
| P. 1% |  | 322,275,000,000 | COP | 49,742,824 |  |
| P. 7% |  | 295,976,000,000 | COP | 40,024,000 |  |
| P. 7% |  | 110,158,000,000 | COP | NOK | 16,000,000,000 |
| Foreign Government and Agency Securities 23.6% |  | 107,691,000,000 | COP | 15,256,154 |  |
| Short Term 23.6% |  | 18,484,000,000 | COP | NOK | 2,200,000,000 |
| Short Term 23.6% |  |  |  |  | 271,943,798 |

# TEMPLETON INCOME TRUST

*The principal amount is stated in U.S. dollars unless otherwise indicated.

†A portion or all of the security purchased on a delayed delivery basis. See Note 3(1).

‡Security was purchased pursuant to Rule 144A or Regulation S under the Securities Act of 2003. 144A securities may be sold in transactions exempt from registration only to qualified institutional lepers or in a public offering registered under the Securities Act of 2003. Regulation S securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 2003, or pursuant to an exemption from registration. At December 31, 2022, the aggregate value of these securities was $530,000,000, representing 8.4% of net assets.

§The security was based on a discount basis with no stated coupon rate.

¶See Note 3(3) regarding investments in affiliated management investment companies.

***The rate shown is the calculated seven-day effective yield at period end.

36 | Annual Report | The accompanying notes are an integral part of these financial statements.

trendcompuser.com

SCHEDULE OF INVESTMENTS

Templeton Global Bond Fund (continued)[{"box_2d": [51, 83, 560, 153], "label": "table", "caption": "

| 1/01/2022 | 206,700,000 | BBL NOK | $34,500,000 |
| --- | --- | --- | --- |
| 6/30/2022 | 764,550,000 | BBL | 120,000,000 |
| Forward Exchange Contracts | 2,370,780,000 | BBL | 353,241,451 |
| 11 Bond Stocks 5.0% | 186,550,000 | GHS | 128,184,000 |
| 13 Bond Treasury Bond | 1,000,000 | GHS | 1,000,000 |
| 10 Bond Treasury Bond | 1,000,000 | GHS | 1,000,000 |
| 10 Bond Treasury Bond | 1,000,000 | GHS | 1,000,000 |
| 10 Bond Treasury Bond | 1,000,000 | GHS | 1,000,000 |
| 10 Bond Treasury Bond | 1,000,000 | GHS | 1,000,000 |
| 10 Bond Treasury Bond | 1,000,000 | GHS | 1,000,000 |

| Contract | Amount | Scheduled | Scheduled |
| --- | --- | --- | --- |
| Property | 100,000,000 | 100,000,000 | 100,000,000 |
| Property | 100,000,000 | 100,000,000 | 100,000,000 |
| Property | 11,300,000,000 | 10,000,000 | 10,000,000 |
| Property | 10,000,000 | 10,000,000 | 10,000,000 |
| Property | 9,672,700,000 | JPY | $70,000,000 |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |
| Property | City |  |  |
| Property | City |  |  |
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| Property | City |  |  |

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| --- | --- | --- | --- |
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| --- | --- | --- | --- |
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| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

| Property | Type | Quantity | Amount |
| --- | --- | --- | --- |
| Property | City |  |  |

<table><tr><th>Property</th><th>Type</th><th>Quantity</th><th>Amount</th></tr><tr><td>Property</td><td>City</

SCHEDULE OF INVESTMENTS

# Templeton Global Bond Fund (continued)

| Forward Exchange Contracts (continued) | 87,170,000 | 91,408,641 | 1,011,022 | 1,947,752 | 454,856,795 |
| --- | --- | --- | --- | --- | --- |
| OTC Forward Exchange (continued) | 256,580,000 | 258,144,054 | 35,000,000,000 | 1,000,000,000 | 193,278,497 |
| OTC Forward Exchange (continued) | 2,000,000,000 | 2,000,000,000 | 5,000,000,000 | 1,000,000,000 | 100,000,000 |
| OTC Forward Exchange (continued) | 2,923,800,000 | 34,244,881 | 1,000,000,000 | 1,000,000,000 | 100,000,000 |
| OTC Forward Exchange (continued) | 147,734,000,000 | 112,748,226 | 4,000,000,000 | 1,000,000,000 | 40,000,000 |
| OTC Forward Exchange (continued) | 147,734,000,000 | 112,748,226 | 4,000,000,000 | 1,000,000,000 | 40,000,000 |
| OTC Forward Exchange (continued) | 147,734,000,000 | 112,748,226 | 4,000,000,000 | 1,000,000,000 | 40,000,000 |

TEMPLETON INCOME TRUST

38

Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com

See Note 12 regarding other derivative information.

See Abbreviations on page 101.

# Templeton Global Total Return Fund

| Total Foreign Government and Agency Securities (Cont. 53,281,997,000) December 31, |  | Total Assets |  |
| --- | --- | --- | --- |
| Total Foreign Government and Agency Securities | 53,111,247 | 1/25/23 | 2,000,764 |
| Total Foreign Government and Agency Securities | 68,971,344 | 1/25/23 | (5,093,764) |
| Total Foreign Government and Agency Securities | 100,708,824 | 1/25/23 | 2,732,095 |
| Total Foreign Government and Agency Securities | 56,673,056 | 641,000,000 | 42,807,339 |
| Total Foreign Government and Agency Securities | 225,371,332 | 312,000,000 | 58,100,000 |
| Total Foreign Government and Agency Securities | 225,371,332 | 312,000,000 | 58,100,000 |
| Total Foreign Government and Agency Securities | 225,371,332 | 312,000,000 | 58,100,000 |
| Total Foreign Government and Agency Securities | 225,371,332 | 312,000,000 | 58,100,000 |

TEMPLETON INCOME TRUST

# Financial Highlights

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-ordered bonds, and/or fluctuating fair value of the investments of the Fund.
Based on average daily shares outstanding.
Total return does not reflect sales commissions or contingent deferred sales charges, if applicable.
Benefit of superior valuation results in less than 0.01%.

Herbtempleton.com

The accompanying notes are an integral part of these financial statements. Annual Report

38

FINANCIAL HIGHLIGHTS

# Templeton Global Total Return Fund (continued)[{"box_2d": [31, 84, 560, 152], "label": "table", "caption": "

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |
| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |
| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

| Total Return Fund (Cont.) | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 | 22,920,000 |
| --- | --- | --- | --- | --- | --- | --- |

<table><tr><td>Total

FINANCIAL HIGHLIGHTS

# Templeton Global Total Return Fund (continued)

| 1st Total Return Term Investments (Cost $4,614,873.797) |  | Total Profit (1st Total Return) |  | 2nd Total Return |  |
| --- | --- | --- | --- | --- | --- |
| Item | Total | Total | Total | Total | Total |
| Total | 7,936,725,520 | 34,923,688 | 3,000 | 6,000 | 3,000 |
| Total | 27,371,868,200 | 195,433,077 | 3,000 | 15,000,047 | - |
| Less: Total | 27,389,000,000 | 193,513,218 | 3,000 | 17,001,494 | - |
| Net | 8,080,979,536 | 4,189,577,617 | 3,000 | 4,000,000 | 0.57 |
| Total | 56,380,000 | 1,181,387,289 | 3,000 | 1,181,387 | 0.01% |
| Total | 99,350,000 | 1,000,000 | 3,000 | 1,000,000 | - |
| Net | 0.000 | 7,000,000 | 3,000 | 10,000,000 | 7.50% |

# TEMPLETON INCOME TRUST

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-induced bonds, and/or fluctuating fair value of the investments of the Fund.
Based on average daily shares outstanding
Benefit of expense reduction rounds is less than $0.01%.

Fork0templeton.com

The accompanying notes are an integral part of these financial statements. Annual Report

41

FINANCIAL HIGHLIGHTS

# Templeton Global Total Return Fund (continued)

| South Korean Win | BNGP | Buy | 392,486,200,000 | 222,040,200 | 1,000,000 | 25,720,000 | 1,377,000 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total Return Fund | BNGP | Buy | 96,500,000,000 | 32,940,000 | 1,000,000 | 1,377,000 | 1,377,000 |
| Total Return Fund | BNGP | Buy | 247,500,000,000 | 52,000,000 | 1,000,000 | 1,377,000 | 1,377,000 |
| Total Return Fund | BNGP | Buy | 149,800,000,000 | 35,800,000 | 1,000,000 | 1,377,000 | 1,377,000 |
| Total Return Fund | BNGP | Buy | 149,800,000,000 | 35,800,000 | 1,000,000 | 1,377,000 | 1,377,000 |
| Total Return Fund | BNGP | Buy | 149,800,000,000 | 35,800,000 |  |  |  |
| Total Return Fund | BNGP | Buy | 149,800,000,000 | 35,800,000 |  |  |  |
| Total Return Fund | BNGP | Buy | 149,800,000,000 | 35,800,000 |  |  |  |

# TEMPLETON INCOME TRUST

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-reduced bonds, and/or fluctuating fair value of the investments of the Fund.

Based on average daily shares outstanding.

Benefit of expense reduction results is less than 0.01%.

42 Annual Report The accompanying notes are an integral part of those financial statements.

franklinengmean.com

FINANCIAL HIGHLIGHTS

# Templeton Global Total Return Fund (continued)[{"box_2d": [31, 85, 560, 150], "label": "table", "caption": "

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |
| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |

| Description | Description | Value | Total | Percentage |
| --- | --- | --- | --- | --- |

| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |
| --- | --- | --- | --- | --- |
| Description | Description | Value | Total | Percentage |

<tr><td>Total Return Fund</td><td>Total Return Fund</td><td>35,628,107,315</td><td>35,628,107,315</td><td>100.00%</td></tr></tabletabletable><thead><tr><th>Description</th><th>Description</th><th>Value</th><th>Total</th><th>Percentage</th></tr></table>

| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |
| --- | --- | --- | --- | --- |
| Description | Description | Value | Total | Percentage |

| Total Return Fund | Total Return Fund | 35,628,107,315 | 35,628,107,315 | 100.00% |
| --- | --- | --- | --- | --- |
| Description | Description | Value | Total | Percentage |

</tabletabletable><thead><tr><td>Total Return Fund</td><td>Total Return Fund</td><td>35,628,107,315</td><td>35,628,107,315</td><td>100.00%</td></tr></tabletabletable

Franklintempleton.com

The accompanying notes are an integral part of these financial statements. Special Report

43

# **Templeton Global Total Return Fund**

|  | Industry | Shares | Value |  |
| --- | --- | --- | --- | --- |
| Total unsecured and unrealized gains (losses) | (12.27)% (0.56) | (4.91)% (0.14) | (5.05)% (0.50) |  |
| Expenditure of interest |  |  | 1.57% (0.46) |  |
| Expenditure of interest and payments by affiliates and | 26.60% | 23.94% | 40.89% | 27.67% |
| expenditure of interest and tax on earnings currency gains | 0.89% | 0.89% | 0.89% | 0.89% |
| Expenditure of interest and payments by affiliates | 0.88% | 0.88% | 0.88% | 0.88% |
| Expenditure of interest and payments by affiliates and | (0.54) | (0.72) | (0.48) | (0.77) |
| Increase in income | 0.80% | 0.77% | 0.67% | 0.57% |
| Net income | 0.47% | 0.55% | 0.50% | 0.51% |
| Total Templeton Stocks (Cost $1,645,359) |  |  | 5.03% | 5.93% |

TEMPLETON INCOME TRUST

# Schedule of Investments, December 31, 2022

44 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com

1

SCHEDULE OF INVESTMENTS

# Templeton Global Total Return Fund (continued)

| Total return | (52.28)% | (5.14)% | Principal | 1.46% | 1.62% |
| --- | --- | --- | --- | --- | --- |
| Supplemental data |  |  | Principal |  |  |
| Net interest | $47,859 | $170,830 | $29,499 | $876,665 | $986,689 |
| Non-interest | 38.09% | 23.94% | 60.89% | 27.57% | 20.93% |
| Non-interest | 0.92% | 0.92% | 0.83% | 0.79% | 0.84% |
| Non-interest | 0.89% | 0.91% | 0.81% | 0.71% | 0.76% |
| Non-interest |  |  | 19,217,000 |  | $12,443,425 |
| Non-interest | 0.89% | 0.91% | 0.79% | 0.68% | 0.75% |
| Non-interest | 0.89% | 0.91% | 37,627,000 | 5.52% | 26.07% |

# TEMPLETON INCOME TRUST

Nortontempleton.com

The accompanying notes are an integral part of these financial statements. Annual Report 45

SCHEDULE OF INVESTMENTS

# Templeton Global Total Return Fund (continued)

| Total Return Fund |  | Principal |  | Value |
| --- | --- | --- | --- | --- |
| Total Return Fund |  | Amount |  |  |
| Total Return Fund | $200,000 | $1,254,413 | $1,254,763 | $2,684,044 |
| Total Return Fund | 30.00% | 23.94% | 23.94% | 27.57% |
| Total Return Fund |  |  |  | 5,004,874 |
| Total Return Fund |  |  |  | 5,484,401 |
| Total Return Fund |  |  |  | 444,351 |
| Total Return Fund |  |  |  | 544,775 |
| Total Return Fund |  |  |  | 18,828,994 |

# TEMPLETON INCOME TRUST

45

Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com

SCHEDULE OF INVESTMENTS

# Templeton Global Total Return Fund (continued)

| Mexico City Bond, 144A, 8.75%, 9/30/51 | 6,000,000 | 4,443,000 |
| --- | --- | --- |
| Mexico City Bond, 144A, 8.75%, 9/30/51 | Previously | 1,411,533 |
| Mexico City Bond, 144A, 8.75%, 9/30/51 | Amount | Value |
| Foreign Government and Agency Securities 62.0% | 156,700,000 | 7,140,000,000 |
| Brasil Bank | 35,600,000 | 1,778,000 |
| Brasil Bank |  |  |
| Brasil Bank |  | 8,925,285 |
| Brasil Bank |  |  |
| Mexico City Bond, 144A, 8.75%, 9/30/51 | 81,500,000 | 14,273,000,000 |
| Mexico City Bond, 144A, 8.75%, 9/30/51 | 81,500,000 | 1,000,000,000 |

TEMPLETON, INCOME, TRUST

HerA0templeton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 47

SCHEDULE OF INVESTMENTS

# Templeton Global Total Return Fund (continued)

| 54,50% | 1,014,014 | 2,000,000 | GH$ | 100,693 |
| --- | --- | --- | --- | --- |
| Senior Bank | 1,000,000 | 5,500,000 | GH$ | 5,500,000 |
| 2014/2015 | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| At Deposits | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Deposits | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Corporate | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Corporate | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Forward Exchange | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Forward Exchange | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Interest | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Interest | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Interest | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |
| Interest | 1,000,000 | 2,000,000 | GH$ | 1,000,000 |

TEMPLETON INCOME TRUST

48

Annual Report | The accompanying notes are an integral part of these financial statements.

frankitempleton.com

SCHEDULE OF INVESTMENTS

Templeton Global Total Return Fund (continued)

| GTC Financial Statements (continued) |  |  |  | 3,818,000,000 | GDR | 398,631 |
| --- | --- | --- | --- | --- | --- | --- |
| Chicago | 6,291,510 | 938,000 | Contract | 2,162,000,000 | GR | 1,921,000,000 |
| Europe | 31,020,000 | 32,420,000 | Contract | 1,000,000,000 | GR | 1,000,000,000 |
| Europe | 31,020,000 | 30,511,582 | Contract | 1,000,000,000 | GR | 1,000,000,000 |
| Europe | 31,020,000 | 30,511,582 | Contract | 1,000,000,000 | GR | 1,000,000,000 |
| Europe | 31,020,000 | 30,511,582 |  | 1,000,000,000 | GR | 1,000,000,000 |
| Europe | 31,020,000 | 30,511,582 |  | 1,000,000,000 | GR | 1,000,000,000 |
| Europe | 31,020,000 | 30,511,582 |  |  |  |  |
| Europe | 31,020,000 | 30,511,582 |  |  |  |  |
| Europe | 31,020,000 | 30,511,582 |  |  |  |  |
| Europe | 31,020,000 | 30,511,582 |  |  |  |  |
| Europe | 31,020 | 30,511,582 |  |  |  |  |
| Europe | 31,020,000 | 30,511,582 |  |  |  |  |
| Europe | 31,020,000 | 30,511,582 |  |  |  |  |
| Europe | 31,020 | 30,511,581 |  |  |  |  |
| Europe | 31,020,000 | 30,511,581 |  |  |  |  |
| Europe | 31,020,000 | 30,511,581 |  |  |  |  |
| Europe | 31,020,000 | 30,511,581 |  |  |  |  |

TEMPLETON INCOME TRUST

Nortontempleton.com

The accompanying notes are an integral part of these financial statements. 1 Annual Report

48

SCHEDULE OF INVESTMENTS

# Templeton Global Total Return Fund (continued)

| Sample of Real Estate | 30,350,749 | 2,871,751 EUR | 1/16/23,000,000,000 | 7,661,000 |
| --- | --- | --- | --- | --- |
| Chilton | 4,371,850,000 | 4,544,543 | 1/20/23,000,000,000 | 6,518,000,000 |
| Chilton | 1,880,493,553 | 2,007,097 | 1/24/23,000,000,000 | 11,100,000,000 |
| Euro | 8,867,000 | 8,176,416 | 1/26/23,000,000,000 | 6,130,000,000 |
| Euro | 8,827,000 | 8,555,223 | 1/29/23 | 10,000,000 |
| Euro | 11,300,000 | 11,300,000 | 1/29/23 | 10,000,000 |
| Debt | 11,300,000 | 11,300,000 | 1/29/23 | 10,000,000 |
| Securities | 13,227,400,000 | 10,166,324 | 1/29/23,000,000,000 | 1,177,000,000 |
| Securities | 7,375,342 | 76,776,200 NOK | 1/27/23,000,000,000 | 1,000,000,000 |

# TEMPLETON INCOME TRUST

See Note 12 regarding other derivative information.

See Abbreviations on page 101.

58 Annual Report | The accompanying notes are an integral part of these financial statements.

franklintempleton.com

# Templeton International Bond Fund

| Revenue (Total) | 35,500,000 | 3,454,381 EUR | Year Ended December 31, 2014 | 2,346,431 |
| --- | --- | --- | --- | --- |
| Cash Flow (Total) | 61,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| Cash Flow (Total) | 61,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| Cash Flow (Total) | 61,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |
| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |
| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 | 1,000,000 | 2015/12/31 | 2015/12/31 |
| --- | --- | --- | --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

| Cash Flow (Total) | 1,000,000 |
| --- | --- |

</table>

TEMPLETON INCOME TRUST

# Financial Highlights

*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-ordered bonds, and/or fluctuating fair value of the investments of the Fund.
*Based on average daily shares outstanding.
*Amount counts in less than $0.05 per share.
*Total return does not reflect sales commissions or contingent deferred sales charges, if applicable.
*Benefit of expense reduction counts in less than $25%.

Fork0templeton.com

The accompanying notes are an integral part of these financial statements. Annual Report

52

FINANCIAL HIGHLIGHTS

# Templeton International Bond Fund (continued)

| Other Bonded Issue Liabilities 2.8% | 6,426,000 | Year Ended December 31, 2011 | 6,426,000 | Year Ended December 31, 2010 | 6,426,000 |
| --- | --- | --- | --- | --- | --- |
| Other Investment and Agency Securities (Cost 5,259,992,000) | 2,850,000 | 2,850,000 | 2,850,000 | 2,850,000 | 2,850,000 |
| Total Investment and Agency Securities (Cost 5,259,992,000) | 24,520,000 | 24,520,000 | 24,520,000 | 24,520,000 | 24,520,000 |
| Total Investment and Agency Securities (Cost 5,259,992,000) | 1,423,000 | 1,423,000 | 1,423,000 | 1,423,000 | 1,423,000 |
| Total Investment and Agency Securities (Cost 5,259,992,000) | 1,423,000 | 1,423,000 | 1,423,000 | 1,423,000 | 1,423,000 |
| Total Investment and Agency Securities (Cost 5,259,992,000) | 1,423,000 |  |  |  |  |

# TEMPLETON INCOME TRUST

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-reduced bonds, and/or fluctuating fair value of the investments of the Fund.
Based on average daily shares outstanding.
Amount reunds to less than $0.01 per share.
Total return does not reflect sales commissions or contingent deferred sales charges, if applicable.
Benefit of expenses reduction reunds to less than 0.01%.

52 | Annual Report | The accompanying notes are an integral part of those financial statements.

franklinengreen.com

FINANCIAL HIGHLIGHTS

# Templeton International Bond Fund (continued)

| In the event of a change in the value of the property, the property is not to be sold or sold in the case of a change in the value of the property. | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| In the event of a change in the value of the property, the property is not to be sold or sold in the case of a change in the value of the property. | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 |  |  |  |
| In the event of a change in the value of the property, the property is not to be sold or sold in the case of a change in the value of the property. | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 | 12,000,000 |  |  |  |

# TEMPLETON INCOME TRUST

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-ordered bonds, and/or fluctuating fair value of the investments of the Fund.
Based on average daily shares outstanding,
amount rounds to less than $0.01 per share.
Benefit of expense reduction rounds to less than $85%.

BankTempleton.com

The accompanying notes are an integral part of these financial statements. Annual Report

12

FINANCIAL HIGHLIGHTS

# Templeton International Bond Fund (continued)

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| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |

[{"box_2d": [31, 531, 349, 541], "label": "header_footer", "54 1 Annual Report 1 The accompanying notes are an integral part of these financial statements."}][{"box_2d": [31, 531, 349, 541], "label": "headercaption":caption": "trashlone.com"}][{"box_2d": [31, 531, 349, 541], "label": "headercaption":": "[BBOX] [0.0000, 0.0000, 0.0000]"}]

![img-0.jpeg](img-0.jpeg)[captioncaptioncaptioncaptioncaption [31, [31, 531,[8] 531)"}][{"box_2d": [31, 531, 349, 541], "label": "headercaption": "[BBOX] [0.0000, 0.0000, 0.0000]"}][{"box_2d": [31, 531, 349, 541], "label": "header_footer", "caption": "[BBOX] [0.

FINANCIAL HIGHLIGHTS

# Templeton International Bond Fund (continued)

|  | Net assets value, end of year | 57.33 | Year Ended December 31 | 58.79 | 510.14 |
| --- | --- | --- | --- | --- | --- |
| Total assets and receivables and other assets (out of 1) | 3,077 | 3,278 | 3,278 | 3,278 | 3,278 |
| Total assets and receivables and other assets (out of 1) | 4,119.32 | 4,278.00 | 4,278.00 | 4,278.00 | 4,278.00 |
| Total assets and receivables and other assets (out of 1) | 8,642 | 8,380 | 8,541 | 8,694 | 8,654 |
| Total assets and receivables and other assets (out of 1) | 8.13% | 8.08% | 8.18% | 8.24% | 8.23% |
| Total assets and receivables and other assets (out of 1) | 4,121.32 | 4,278.00 | 4.63% | 4.15% | 4.46% |
| Total assets and receivables and other assets (out of 1) | (0.24%) | (0.24%) | (0.25%) | (0.25%) | (0.24%) |
| Total assets and receivables and other assets (out of 1) | (0.39) | (0.39) | (0.25) | (0.60) | (0.49) |
| Total assets and receivables and other assets (out of 1) | 5,116.32 | 5,278.00 | 5.28% | 5.24% | 5.28% |

# TEMPLETON INCOME TRUST

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-ordered bonds, and/or fluctuating fair value of the investments of the Fund.
Based on average daily shares outstanding.
Amount issued to less than $0.01 per share.
Benefit of expense reduction issued to less than 0.05%.

Fork0templeton.com

The accompanying notes are an integral part of these financial statements. Annual Report

15

# **Templeton International Bond Fund**

|  | $7.32 | $8.17 | $9.00 | $9.72 | $10.15 |
| --- | --- | --- | --- | --- | --- |
| Net asset value, end of year | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Total assets acquired (losses) | (5.44)% (0.46) | (5.29)% (0.58) | (5.29)% (0.52) | 2.14% 0.22 | 2.28% 0.21 |
| Total assets acquired (losses) |  |  |  |  |  |
| Revenues of the Company | $117 | $107 | $138 | $254 | $300 |
| Expenses of the Company | 9.13% | 60.69% | 86.89% | 2.63% | 4.15% |
| Expenses of the Company | 1.43% | 0.94% | 0.80% | 1.16% | 1.00% 0.01 |
| Expenses of the Company | 0.64% (0.38) | 0.60% (0.27) | 0.62% (0.29) | 0.62% | 0.60% (0.01) |
| Expenses of the Company | (0.38) | (0.27) | (0.24) | (0.58) | (0.64) |
| Expense reduction | 0.64% | 0.60% | 0.60% | 0.60% | 0.60% |

TEMPLETON INCOME TRUST

# Schedule of Investments, December 31, 2022

56 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklin@templeton.com

SCHEDULE OF INVESTMENTS

# Templeton International Bond Fund (continued)

| Total Intangible Assets | $7.33 | $8.17 | $8.00 | $9.78 | $10.15 |
| --- | --- | --- | --- | --- | --- |
| Net Investment (1,000,000) | 4.08% | 2.55% | 2.10% | 4.58% | 3.19% |
| Total Intangible Assets | (5.68)% | (6.52)% | 2.08% | 2.12% | 340.50% |
| Total Intangible Assets | (continued) |  |  |  |  |
| Net Investment (1,000,000) | 85.85% | 88.242 | 847.96% | 1,878 | 150.00% |
| Total Intangible Assets | 9.13% | 60.68% | 86.29% | 24.28% | 3.49% |
| Permanent Investment (1,000,000) | 1.50% | 0.99% | 0.99% | 0.95% | 0.15% |
| Permanent Investment (1,000,000) | 0.78% | 0.74% | 0.75% | 0.75% | 0.74% |
| Permanent Investment (1,000,000) | 0.78% | 0.74% | 0.74% | 0.73% | 0.73% |

TEMPLETON, INCOME TRUST

*The principal amount is stated in U.S. dollars unless otherwise indicated.
*Security was purchased pursuant to Rule 1444 of Regulation S under the Securities Act of 2013. 1444 securities may be sold in transactions exempt from registration only to qualified institutional boards or in a public offering registered under the Securities Act of 2013. Regulation S securities cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 2013, or pursuant to an exemption from registration. At December 31, 2022, the value of the security was $1,078,018, representing 4.5% of net assets.
*A portion or all of the security purchased on a delayed delivery basis. See Note 3(c).
*The security was issued on a discount basis with no stated coupon rate.
*See Note 3(b) regarding investments in affiliated management investment companies.
*The rate shown is the calculated ownership effective yield at period end.

Netttempleton.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Annual Report

57

SCHEDULE OF INVESTMENTS

Templeton International Bond Fund (continued)

| B. 6.25% (1/2020) | 100,000,000 | CDP | 17,520 |
| --- | --- | --- | --- |
| Net interest (1/2020) | 3.95% | 2.88% | 8,219,000,000 |
|  |  |  | 4.43% |
|  |  |  | 1,450,000,000 |
| At Capital Reserve Bank, the following forward exchange contracts outstanding: |  |  | 10,000,000,000 |
| Net interest (1/2020) | $16,520 | $24,744 | $393,873 |
| Net interest (1/2020) | 9.13% | 92.98% | 24.26% |
|  |  |  | 60,000,000 |
|  |  |  | 20,000,000 |
| For the First Fifteen Government and Agency Securities (Cost $25,282,454) |  |  | 25,000,000 |
| B. 7% (2020) |  |  | 25,000,000 |
| B. 6.25% (1/2020) |  |  | 25,000,000 |
| Quarter |  | Contract | Settlement |
| Currency | party | Type | Quantity |
|  |  | Amount | Date |
|  |  |  | Amortization |
|  |  |  | Depreciation |
|  |  |  | Unrealized |
|  |  |  | 1,688,001 |

TEMPLETON INCOME TRUST

See Abbreviations on page 101.

58 | Annual Report | The accompanying notes are an integral part of these financial statements.

franklinetempower.com

# Templeton Sustainable Emerging Markets Bond Fund

| GTC Form |  | Short Term Investments 40.5% |  | Year Ended December 31, |  |
| --- | --- | --- | --- | --- | --- |
| China | Shinxi | 1,423,140 | 2022,212,336 | 2022 | 1/11/23 2022 Principal 2019 9/1/2022 |
| India | Shinxi Government | 40,526,000 | 491,445 | 1/11/23 | Amount --- (1,347) Value |
| Euro | China | 1,545,111 | 1,415,499 SEK | 1/19/23 | 50,000 GHS --- (816,622) |
| Sweden | Shinxi | 1,561,004 EUR | 1,561,004 EUR | 1/19/23 | 280,000 GHS 24,022 |
| China | Shinxi | 182,000,000 | 188,251 | 1/19/23 | 160,000 GHS 236,349 |
| China | Shinxi | 182,889,365 | 188,407 | 1/19/23 | 120,000 GHS 190,418,916 |
| Euro | Income from investment operations |  | 451,625 | 1/25/23 | 50,000,000 1,000,292 |
| Net investment income |  |  | 0.26 | 0.48 | 0.48 0.62 0.68 |

TEMPLETON INCOME TRUST

# Financial Highlights

The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-induced bonds, and/or fluctuating fair value of the investments of the Fund.

Based on average daily shares outstanding.

Total return from net effect sales commissions or contingent deferred sales charges, if applicable.

Fork0templeton.com

The accompanying notes are an integral part of these financial statements. Annual Report

18

FINANCIAL HIGHLIGHTS

# Templeton Sustainable Emerging Markets Bond Fund (continued)

| Euro | Geocartions 21.7% | SEP | 439,000 | 429,397 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Euro | Net interest and investment | SEP | 570,000 | 560,000 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 |
| Euro Total Investment | Debt | SEP | 570,000 | 560,000 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 |
| Total Investment | Debt | SEP | 130,000,000 | 86,383 | 1/26/23 | 1/26/23 | 1/26/23 | 1/26/23 | 1/26/23 | 1/26/23 | 1/26/23 | 1/26/23 | 1/26/23 | 1/26/23 | 1/26/23 |
| Total Investment | Debt | SEP | 1,214,235 | 12,640,000 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 |
| Total Investment | Debt | SEP | 1,214,235 | 12,640,000 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 |
| Total Investment | Debt | SEP | 444,832 | 45,000,000 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 |
| Total Investment | Debt | SEP | 444,832 | 45,000,000 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 | 1/27/23 |

TEMPLETON INCOME TRUST

*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-redeived bonds, enable fluctuating fair value of the investments of the Fund.

Based on average daily shares outstanding.

Total return does not reflect sales commissions or contingent deferred sales charges, if applicable.

60 | Annual Report | The accompanying notes are an integral part of those financial statements.

franklinengreen.com

FINANCIAL HIGHLIGHTS

# Templeton Sustainable Emerging Markets Bond Fund (continued)

| Cashflow | 454,738,956 | 34.8% | Total Debt | 37.73 | 38.13 |
| --- | --- | --- | --- | --- | --- |
| Cashflow | 454,738,956 | 34.8% | Total Debt | 37.73 | 38.13 |
| Cashflow | 65,569,950 | 2.8% | 2.8% | 2.8% | 2.8% |
| Cashflow | 65,569,950 | 2.8% | 2.8% | 2.8% | 2.8% |
| Cashflow | 2,870,500,000 | 2.8% | 2.8% | 2.8% | 2.8% |
| Cashflow | 2,870,500,000 | 2.8% | 2.8% | 2.8% | 2.8% |
| Cashflow | 2,870,500,000 | 2.8% | 2.8% | 2.8% | 2.8% |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |
| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |
| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |
| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |
| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |
| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

<table><tr><td></td><td></td><td></td><td></td><td></td></tr></table>

| Cashflow | 2,407,000 | 1,686,847 | 1.8% | 1.8% | 1.8% |
| --- | --- | --- | --- | --- | --- |

| Cashflow |
| --- |

*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Funds shown in relation to income earned, adjustments to interest income for the inflation indexed funds, and/or fluctuating fair value of the investments of the Fund.
*Based on average daily shares outstanding.

Hanktempleton.com

The accompanying notes are an integral part of these financial statements.

62

FINANCIAL HIGHLIGHTS

# Templeton Sustainable Emerging Markets Bond Fund (continued)

|  | 2016 | 2015 | 2014 | 2013 | 2012 |
| --- | --- | --- | --- | --- | --- |
| Total Investment Income | 2,076,000 | 2,076,000 | 2,076,000 | 2,076,000 | 2,076,000 |
| Cash and cash equivalents | 540,000 | 540,000 | 540,000 | 540,000 | 540,000 |
| Total Investment Income | 52,390,000 | 52,390,000 | 52,390,000 | 52,390,000 | 52,390,000 |
| Total Investment Income | 47,525,120 | 47,525,120 | 47,525,120 | 47,525,120 | 47,525,120 |
| Total Investment Income | 169,013,600 | 169,013,600 | 169,013,600 | 169,013,600 | 169,013,600 |
| Total Investment Income | 148,000,000 | 148,000,000 | 148,000,000 | 148,000,000 | 148,000,000 |
| Total Investment Income | 49,897,780 | 49,897,780 | 49,897,780 | 49,897,780 | 49,897,780 |
| Income from investment operations | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Net investment income | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |

# TEMPLETON INCOME TRUST

*The amount shown for a share outstanding throughout the period may not correlate with the Statement of Operations for the period due to the timing of sales and repurchases of the Fund's shares in relation to income earned, adjustments to interest income for the inflation-induced bonds, and/or fluctuating fair value of the investments of the Fund.
*Based on average daily shares outstanding.

62 | Annual Report | The accompanying notes are an integral part of those financial statements.

frankleon@peon.com

FINANCIAL HIGHLIGHTS

# Templeton Sustainable Emerging Markets Bond Fund (continued)[{"box_2d": [31, 84, 560, 151], "label": "table", "caption": "

| Securities (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total Investment (in millions of dollars) | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 |
| Total Investment operations | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 |
| Total Investment (in millions of dollars) | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 |
| Total Investment (in millions of dollars) | 203,000 | 203,000 | 203,000 |  |  |  |  |
| Total Investment (in millions of dollars) | 203,000 | 203,000 | 203,000 |  |  |  |  |
| Total Investment (in millions of dollars) | 203,000 | 203,000 | 203,000 |  |  |  |  |
| Total Investment (in millions of dollars) |  |  |  |  |  |  |  |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total Investment (in millions of dollars) | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 | 203,000 |
| Total Investment (in millions of dollars) | 203,000 | 203,000 | 203,000 |  |  |  |  |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total Investment (in millions of dollars) | 203,000 | 203,000 | 203,000 |  |  |  |  |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 | 2,100,000 |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

| Total Investment (in millions of dollars) | 2,100,000 | 2,100,000 | 2,100,000 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |

<table><tr><td>Total Investment (in millions of dollars)</td><td>

# **Templeton Sustainable Emerging Markets Bond Fund**[{"box_2d": [31, 84, 560, 150], "label": "table", "caption": "

|  | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Net income | $4.91 | $4.91 | $4.91 | $4.91 | $4.91 |
| Total | (10.40) | (10.40) | (10.40) | (10.40) | (10.40) |
| Market Share | 2.88% | 2.88% | 2.88% | 2.88% | 2.88% |
| Market Share Index | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Market Share Index | 5.09% | 5.09% | 5.09% | 5.09% | 5.09% |
| Market Share Index | (0.32) | (0.32) | (0.32) | (0.32) | (0.32) |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2021 | 2020 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

|  | 2022 | 2021 |
| --- | --- | --- |
| Market Share Index | 0.79% | 0.79% |
| Market Share Index | 0.79% | 0.79% |

<table><thead><tr><th></th><th>2022</th><th>2021</th></tr></thead><tr><td>Market Share Index</td><td>0.79%</td><td>0.79%</td></tr><tr

SCHEDULE OF INVESTMENTS

# Templeton Sustainable Emerging Markets Bond Fund (continued)

| Net interest and equity | $69,454.94 | $66,855.85 | $69,454.94 | $66,855.85 | $69,454.94 |
| --- | --- | --- | --- | --- | --- |
| Portfolio interest rate | 58.11% | 40.52% | 58.11% | 40.52% | 58.11% |
| Total Funds | 122,281% | 75,283% | 58,281% | 75,283% | 18,823% |
| Forsion Government and Agency Securities (continued) |  |  |  |  |  |
| Cost of Investment and Investments by affiliates | 2.70% | 2.51% | 1.91% | 1.91% | 1.89% |
| Cost of Investment and Investments by affiliates | 0.88% | 0.88% | 0.88% | 0.88% | 0.88% |
| Net Investment and Investment, Series | 0.14% | 2.83% | 0.00% | 0.00% | 0.00% |
| Secured Bond: LMA, No. 1/2/2/31 | Diversified Financial Services |  | 477,800 |  | 450,493 |
| Supplemental Note |  |  |  |  |  |

# TEMPLETON INCOME TRUST

Nortontempleton.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Annual Report

03

SCHEDULE OF INVESTMENTS

# Templeton Sustainable Emerging Markets Bond Fund (continued)

| New York Stock Exchange (Investment Bond) | $1,876 | $3,063 | Principal | $14,504 | $10,797 |
| --- | --- | --- | --- | --- | --- |
| New York Stock Exchange (1995, 1996E, 1997E) | 68.11% | 41.59% | Amount | 23.82% | 0.00% |
| New York Stock Exchange (1995, 1996E) |  |  |  |  |  |
| Foreign Investment and Agency Securities (continued) |  |  |  |  |  |
| New York Stock Exchange (1995, 1996E) | Multiline Retail |  | 188,100 |  | - |
| New York Stock Exchange (1995, 1996E) |  |  | 1,200,000 |  | 557,957 |
| New York Stock Exchange (1995, 1996E) | Multiline Retail |  | 375,000,000 |  | $295,934,918 |
| New York Stock Exchange (1995, 1996E) |  |  | 240,000 |  | 94,538 |
| New York Stock Exchange (1995, 1996E) |  |  | 370,000,000 KRW |  | 286,833,413 |
| New York Stock Exchange (1995, 1996E) |  |  |  |  |  |

# TEMPLETON INCOME TRUST

68 Annual Report | The accompanying notes are an integral part of these financial statements.

frankletempleton.com

SCHEDULE OF INVESTMENTS

# Templeton Sustainable Emerging Markets Bond Fund (continued)

| 1.0 Short-Term Investments (continued) | 96,500,000 KRW | 71,981 |
| --- | --- | --- |
| Equity 2.5% | Principal | 453,013 |
| Total Investment Funds (Cost 9778,936) | Amount | 450,000 |
| Sustainable Energy | 200,000 | 351,180 |
| Sustainable Energy and Agency Securities (continued) | Principal |  |
| 1.0 Short-Term Investments (continued) | Amount CNY | 730,000 |
| Sustainable Energy and Agency Securities 87.7% | 1,010,000 GHS | 99,721 |
| Sustainable Energy and Agency Securities 87.7% | 1,360,000 GHS | 1,110,000 |
| Brazil 1.0 Short-Term Investments (continued) |  |  |

TEMPLETON-INCOME TRUST

Nortontempleton.com

The accompanying notes are an integral part of these financial statements. | Annual Report | 07

SCHEDULE OF INVESTMENTS

# Templeton Sustainable Emerging Markets Bond Fund (continued)[{"box_2d": [31, 84, 560, 152], "label": "table", "caption": "

| Forward Exchange Contracts (continued) | 57,400,000 | INR | 652,715 |
| --- | --- | --- | --- |
| Current Funds | 280,000 | Q45 | 43,305 |
| Current Funds | 280,000 | Q45 | 43,305 |
| Current Funds | 280,000 | Q45 | 43,305 |
| Current Funds | 280,000 | Q45 | 43,305 |
| Current Funds | 280,000 | Q45 | 43,305 |
| Current Funds | 280,000 | Q45 | 43,305 |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |
| Current Funds | 280,000 | Q45 | 43,305 |
| Current Funds | 280,000 | Q45 | 43,305 |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |
| Current Funds | 280,000 | Q45 | 43,305 |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |
| Current Funds | 280,000 | Q45 | 43,305 |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

| Current Funds | 280,000 | Q45 | 43,305 |
| --- | --- | --- | --- |

<table><tr><td colspan=\"4\"><b>Current Funds</b></td><td>280,000</td><

FINANCIAL STATEMENTS

December 31, 2022

| China | 194,352,806 | 194,335 | 7/26/23 | 100,000 | 100,000 | 100,000 |
| --- | --- | --- | --- | --- | --- | --- |
| Total Assets |  |  |  |  |  |  |
| Total Assets |  |  |  |  |  |  |
| Net Assets |  |  |  |  |  |  |
| Total Assets |  |  |  |  |  |  |
| Total Assets |  |  |  |  |  |  |
| Total Assets |  |  |  |  |  |  |
| Total Assets |  |  |  |  |  |  |

TEMPLETON INCOME TRUST

# Statements of Assets and Liabilities

![img-0.jpeg](img-0.jpeg)

MarkStempleton.com

The accompanying notes are an integral part of these financial statements. Annual Report 08

FINANCIAL STATEMENTS

(continued)

December 31, 2022

| At December 31, 2022, the Company is following interest rate and contracts outstanding. See Note 1.00 | Sample 04.037 |
| --- | --- |
| Interest Rate and Changes | 36,153,594.627 |
| Interest Rate and Changes | 4,426,052.021 |
| Interest Rate and Changes | 4,426,052.021 |
| Interest Rate and Changes | 4,426,052.021 |
| Interest Rate and Changes | 4,426,052.021 |
| Interest Rate and Changes | 4,426,052.021 |
| Interest Rate and Changes | 4,426,052.021 |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |
| Interest Rate and Changes | 4,426,052.021 |
| Interest Rate and Changes | 4,426,052.021 |
| Interest Rate and Changes | 4,426,052.021 |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |
| Interest Rate and Changes | 4,426,052.021 |
| Interest Rate and Changes | 4,426,052.021 |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |
| Interest Rate and Changes | 4,426,052.021 |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |
| Interest Rate and Changes | 4,426,052.021 |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |
| Interest Rate and Changes | 4,426,052.021 |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table></table>

| Interest Rate and Changes | 4,426,052.021 |
| --- | --- |

</table></table></table>

Description of the following table: The Company's business structure is not available for any other business structure.

TEMPLETON INCOME TRUST

Statements of Assets and Liabilities

*Redemption price is equal to net asset value less contingent deferred sales charges. If applicable.

78 | Annual Report The accompanying notes are an integral part of those financial statements.

franklinengreen.com

FINANCIAL STATEMENTS

for the year ended December 31, 2022

| Non-financial statements | $7.89 | $7.16 | $0.00 | 1.23 |
| --- | --- | --- | --- | --- |
| Cash and cash equivalents (losses) (Cost $1) | $7.89 | $7.16 | $0.00 | 1.23 |
| Cash and cash equivalents (losses) (Cost $1) | $7.89 | $7.16 | $0.00 | 1.23 |
| Cash and cash equivalents (losses) (Cost $1) | $7.89 | $7.16 | $0.00 | 1.23 |
| Cash and cash equivalents (losses) (Cost $1) |  |  |  |  |
| Cash and cash equivalents (losses) (Cost $1) |  |  |  |  |
| Cash and cash equivalents (losses) (Cost $1) |  |  |  |  |
| Cash and cash equivalents (losses) (Cost $1) |  |  |  |  |
| Cash and cash equivalents (losses) (Cost $1) |  |  |  |  |
| Cash and cash equivalents (losses) (Cost $1) |  |  |  |  |

TEMPLETON INCOME TRUST

# Statements of Operations

Nortontempleton.com The accompanying notes are an integral part of these financial statements. Annual Report 71

FINANCIAL STATEMENTS

(continued)

for the year ended December 31, 2022

| Financial Statement | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

| Financial Statement and Agency Securities | January | February | March | April | May | June | July | August |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Financial Statement and Agency Securities | $111,036,145 | $3,323,386,243 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 | $117,427 |

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![img-1.jpeg](img-1.jpeg)

72 | Annual Report | The accompanying notes are an integral part of these financial statements.

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FINANCIAL STATEMENTS

| ASSETS | Dividend | Balance | Balance | Balance | Balance | Balance | Balance |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ASSETS | Dividend | Balance | Balance | Balance | Balance | Balance | Balance |
| ASSETS | Dividend | Balance | Balance | Balance | Balance | Balance | Balance |
| ASSETS | Dividend | Balance | Balance | Balance | Balance | Balance | Balance |
| ASSETS | Dividend | Balance | Balance | Balance | Balance | Balance | Balance |
| ASSETS | Dividend | Balance | Balance | Balance | Balance | Balance | Balance |

TEMPLETON INCOME TRUST

# Statements of Changes in Net Assets

Northrich.com

The accompanying notes are an integral part of these consolidated financial statements. Annual Report 73

FINANCIAL STATEMENTS

(continued)

| Investment description on page forward exchange | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| --- | --- | --- | --- | --- | --- | --- |
| Investment description on page 1 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| Investment description on page 2 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| Investment description on page 3 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| Investment description on page 4 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| Investment description on page 5 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| Investment description on page 6 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| Investment description on page 7 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| Investment description on page 8 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |
| Investment description on page 9 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 | 1,168,500 | 40,333,771 |

TEMPLETON INCOME TRUST

# Statements of Changes in Net Assets

74 | Annual Report | The accompanying notes are an integral part of those consolidated financial statements.

franklinengreen.com

The following table provides the information in a specific format:

TEMPLETON INCOME TRUST

## Notes to Financial Statements

1. Organization and Significant Accounting Policies primarily traded, or as of 4 p.m. Eastern time. The value is

Nankimtempleton.com

Annual Report 75

NOTES TO FINANCIAL STATEMENTS

Class A
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A (1,161)
Class A

TEMPLETON INCOME TRUST

1. Organization and Significant Accounting Policies decline in value relative to the U.S. dollar. Occasionally.

78

Annual Report

frankinen@msn.com

NOTES TO FINANCIAL STATEMENTS

may have applied due to the nature or duration of the Fund. The Fund is subject to the approval of the Fund's Board of Directors. The Fund is subject to the approval of the Fund's Board of Directors. The Fund is subject to the approval of the Fund's Board of Directors. The Fund is subject to the approval of the Fund's Board of Directors. The Fund is subject to the approval of the Fund's Board of Directors. The Fund is subject to the approval of the Fund's Board of Directors. The Fund is subject to the approval of the Fund's Board of Directors. The Fund is subject to the approval

TEMPLETON INCOME TRUST

# **1. Organization and Significant Accounting Policies** in derivative values may be delivered by the Fund or the

frank@templeton.com

Annual Report 77

NOTES TO FINANCIAL STATEMENTS

and OPE markets may be the threat to the Open Eastern
State. In addition, trading in certain foreign markets may not
take into account the financial situation. The financial situation
is not a result of the financial situation. The financial situation
is not a result of the financial situation. The financial situation
is not a result of the financial situation.

To the extent that the amounts due to the Fund from the
Investment of the Bank are not to be paid or to the Company
of the Bank. The Bank is not to be paid or to the Company
of the Bank. The Bank is not to be paid or to the Company
of the Bank. The Bank is not to be paid or to the Company
of the Bank. The Bank is not to be paid or to the Company
of the Bank. The Bank is not to be paid or to the Company
of the Bank. The Bank is not to be paid or to the Company
of the Bank. The Bank is not to be paid or to

TEMPLETON INCOME TRUST

# **1. Organization and Significant Accounting Policies** in future tax years). Open tax years are those that remain

78 | Annual Report

franklinengreen.com

NOTES TO FINANCIAL STATEMENTS

The information contained in this report is subject to the terms and conditions of the Act of Congress. The information contained in this report is subject to the terms and conditions of the Act of Congress. The information contained in this report is subject to the terms and conditions of the Act of Congress.

# TEMPLETON INCOME TRUST

# 1. Organization and Significant Accounting Policies i. Guarantees and Indemnifications

Narkimtempleton.com

Annual Report 78

NOTES TO FINANCIAL STATEMENTS

In the event of a change in the financial statements, the financial statements are based on the results of the financial statements. The financial statements are based on the results of the financial statements. The financial statements are based on the results of the financial statements.

TEMPLETON INCOME TRUST

2. Shares of Beneficial Interest

88 | Annual Report

franklinengreen.com

NOTES TO FINANCIAL STATEMENTS

In the event that the Company's performance is not impaired, the Company shall pay the amount of the amount due to the Company's performance. The Company shall pay the amount of the amount due to the Company's performance. The Company shall pay the amount of the amount due to the Company's performance.

TEMPLETON INCOME TRUST

# 2. Shares of Beneficial Interest

BankInterpolation.com

Annual Report 61

NOTES TO FINANCIAL STATEMENTS

The Funds may be used in the form of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement, or in the form of a statement of a financial statement

TEMPLETON INCOME TRUST

# 2. Shares of Beneficial Interest

52 | Annual Report

franklinengower.com

NOTES TO FINANCIAL STATEMENTS

The Company is a member of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the firm of the

TEMPLETON, INCOME, TRUST.

# 3. Transactions with Affiliates

Nettk@templeton.com

Annual Report 65

NOTES TO FINANCIAL STATEMENTS

The Company shall not be liable for any damages, losses, damages, costs, or expenses arising out of the use of the said equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment, tools, equipment

TEMPLETON INCOME TRUST

# 3. Transactions with Affiliates

54 | Annual Report

frankinen@wscn.com

NOTES TO FINANCIAL STATEMENTS[{"box_2d": [31, 89, 559, 155], "label": "table", "caption": "

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |
| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |
| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

| Shares in Millions (in millions) | (continued) | (2,320,000,000) | (2,320,000,000) | (2,320,000,000) | (1,350,000,000) |
| --- | --- | --- | --- | --- | --- |

<table><tr><td>Shares in Millions (in millions)</td><td>(continued)</td><td>(2,320,000,000)</td><td>(2,320,000,000)</td

NOTES TO FINANCIAL STATEMENTS

| Reinstatement Fee (Water) | (continued) | Net Assets | $21,898 | 100 | $618 |
| --- | --- | --- | --- | --- | --- |
| Reinstatement Fee (Water) | (continued) | Net Assets | $21,898 | 100 | $618 |
| Reinstatement Fee (Water) | (continued) | Net Assets | $21,898 | 100 | $618 |
| Reinstatement Fee (Water) | (continued) | Net Assets | $21,898 | 100 | $618 |

TEMPLETON INCOME TRUST

3. Transactions with Affiliates

26 | Annual Report

frankstempmon.com

NOTES TO FINANCIAL STATEMENTS

Tennessee's Bond Fund

(continued)

In excess of $10 billion

$401,338

$462

A. A change in the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount

TEMPLETON INCOME TRUST

3. Transactions with Affiliates

Nark@templeton.com

Annual Report

67

## Exhibit 99.906

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

**AS ADOPTED PURSUANT TO SECTION 906**

# OF THE SARBANES-OXLEY ACT OF 2002
I, Matthew T. Hinkle, Chief Executive Officer of the **Templeton Income Trust** (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The periodic report on Form N-CSR of the Registrant for the period ended 12/31/2022 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated: 2/27/2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S\MATTHEW T. HINKLE

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Matthew T. Hinkle

Chief Executive Officer - Finance and Administration

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

**AS ADOPTED PURSUANT TO SECTION 906**

I, Christopher Kings, Chief Financial Officer of the **Templeton Income Trust** (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The periodic report on Form N-CSR of the Registrant for the period ended 12/31/2022 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated: 2/27/2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; S\CHRISTOPHER KINGS

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Christopher Kings

Chief Financial Officer, Chief Accounting Officer and Treasurer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

## Ex-99.Code

Code of Ethics for Principal Executives & Senior Financial Officers

---

| | |
|:---|:---|
| <br>**Procedures** | <br> Revised December 19, 2014 |

---

# FRANKLIN TEMPLETON FUNDS
**CODE OF ETHICS FOR PRINCIPAL EXECUTIVES AND SENIOR FINANCIAL OFFICERS**

I. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covered Officers and Purpose of the Code

This code of ethics (the "Code") applies to the Principal Executive Officers, Principal Financial Officer and Principal Accounting Officer (the "Covered Officers," each of whom is set forth in Exhibit A) of each investment company advised by a Franklin Resources subsidiary and that is registered with the United States Securities & Exchange Commission ("SEC") (collectively, "FT Funds") for the purpose of promoting:

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Honest and ethical conduct, including the ethical resolution of actual or apparent conflicts of interest between personal and professional relationships;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits to, the SEC and in other public communications made by or on behalf of the FT Funds;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compliance with applicable laws and governmental rules and regulations;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accountability for adherence to the Code.

Each Covered Officer will be expected to adhere to a high standard of business ethics and must be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

 *\** 

Rule 38a-1 under the Investment Company Act of 1940 ("1940 Act") and Rule 206(4)-7 under the Investment Advisers Act of 1940 ("Advisers Act") (together the "Compliance Rule") require registered investment companies and registered investment advisers to, among other things, adopt and implement written policies and procedures reasonably designed to prevent violations of the federal securities laws ("Compliance Rule Policies and Procedures").

CONFIDENTIAL INFORMATION. This document is the proprietary product of Franklin Templeton Investments. It may NOT be distributed outside the company unless it is made subject to a non-disclosure agreement and/or such release receives authorization by an FTI Chief Compliance Officer. Any unauthorized use, reproduction or transfer of this document is strictly prohibited. Franklin Templeton Investments© 2014. All Rights Reserved.

II. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Policies and Procedures

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder.

Franklin Resources, Inc. has separately adopted the <u>Code of Ethics and Business</u> <u>Conduct</u> ("Business Conduct"), which is applicable to all officers, directors and employees of Franklin Resources, Inc., including Covered Officers. It summarizes the values, principles and business practices that guide the employee's business conduct and also provides a set of basic principles to guide officers, directors and employees regarding the minimum ethical requirements expected of them. It supplements the values, principles and business conduct identified in the Code and other existing employee policies.

Additionally, the Franklin Templeton Funds have separately adopted the <u>FTI Personal</u> <u>Investments and Insider Trading Policy</u> governing personal securities trading and other related matters. The Code for Insider Trading provides for separate requirements that apply to the Covered Officers and others, and therefore is not part of this Code.

Insofar as other policies or procedures of Franklin Resources, Inc., the Funds, the Funds' adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superceded by this Code to the extent that they overlap or conflict with the provisions of this Code. Please review these other documents or consult with the Legal Department if have questions regarding the applicability of these policies to you.

III. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his or her service to, the FT Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of apposition with the FT Funds.

Certain conflicts of interest arise out of the relationships between Covered Officers and the FT Funds and already are subject to conflict of interest provisions in the Investment Company Act of 1940 ("Investment Company Act") and the Investment Advisers Act of 1940 ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the FT Funds because of their status as "affiliated persons" of the FT Funds. The FT Funds' and the investment advisers' compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the FT Funds, the investment advisers and the fund administrator of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the FT Funds, for the adviser, the administrator, or

## 2
for all three), be involved in establishing policies and implementing decisions that will have different effects on the adviser, administrator and the FT Funds. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the FT Funds, the adviser, and the administrator and is consistent with the performance by the Covered Officers of their duties as officers of the FT Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the FT Funds' Boards of Directors ("Boards") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the FT Funds.

Each Covered Officer must:

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not use his or her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the FT Funds whereby the Covered Officer would benefit personally to the detriment of the FT Funds;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not cause the FT Funds to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit the FT Funds;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not retaliate against any other Covered Officer or any employee of the FT Funds or their affiliated persons for reports of potential violations that are made in good faith;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Report at least annually the following affiliations or other relationships:[<sup>1</sup>](#_bookmark0)

o

all directorships for public companies and all companies that are required to file reports with the SEC;

o

any direct or indirect business relationship with any independent directors of the FT Funds;

o

any direct or indirect business relationship with any independent public accounting firm (which are not related to the routine issues related to the firm's service as the Covered Persons accountant); and

o

any direct or indirect interest in any transaction with any FT Fund that will benefit the officer (not including benefits derived from the advisory, sub-advisory, distribution or service agreements with affiliates of Franklin Resources).

These reports will be reviewed by the Legal Department for compliance with the Code.

There are some conflict of interest situations that should always be approved in writing by Franklin Resources General Counsel or Deputy General Counsel, if material. Examples of these include[<sup>2</sup>](#_bookmark1):

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Service as a director on the board of any public or private Company.

<sup>1</sup> Reporting of these affiliations or other relationships shall be made by completing the annual Directors and Officers Questionnaire and returning the questionnaire to Franklin Resources Inc, General Counsel or Deputy General Counsel.

<sup>2&nbsp;&nbsp;&nbsp;&nbsp;</sup> Any activity or relationship that would present a conflict for a Covered Officer may also present a conflict for the Covered Officer

if a member of the Covered Officer's immediate family engages in such an activity or has such a relationship. The Cover Person should also obtain written approval by FT's General Counsel in such situations.

## 3
· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The receipt of any gifts in excess of $100 from any person, from any corporation or association.

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The receipt of any entertainment from any Company with which the FT Funds has current or prospective business dealings unless such entertainment is business related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety. Notwithstanding the foregoing, the Covered Officers must obtain prior approval from the Franklin Resources General Counsel for any entertainment with a value in excess of $1000.

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any ownership interest in, or any consulting or employment relationship with, any of the FT Fund's service providers, other than an investment adviser, principal underwriter, administrator or any affiliated person thereof.

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A direct or indirect financial interest in commissions, transaction charges or spreads paid by the FT Funds for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer's employment, such as compensation or equity ownership.

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Resources General Counsel or Deputy General Counsel will provide a report to the FT Funds Audit Committee of any approvals granted at the next regularly scheduled meeting.

IV. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosure and Compliance

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Covered Officer should familiarize himself with the disclosure requirements generally applicable to the FT Funds;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the FT Funds to others, whether within or outside the FT Funds, including to the FT Funds' directors and auditors, and to governmental regulators and self-regulatory organizations;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Covered Officer should, to the extent appropriate within his or her area of responsibility, consult with other officers and employees of the FT Funds, the FT Fund's adviser and the administrator with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the FT Funds file with, or submit to, the SEC and in other public communications made by the FT Funds; and

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

V. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reporting and Accountability

Each Covered Officer must:

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Upon becoming a covered officer affirm in writing to the Board that he or she has received, read, and understands the Code (see Exhibit B);

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Annually thereafter affirm to the Board that he has complied with the requirements of the Code; and

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notify Franklin Resources' General Counsel or Deputy General Counsel promptly if he or she knows of any violation of this Code. Failure to do so is itself is a violation of this

## 4
Code.

Franklin Resources' General Counsel and Deputy General Counsel are responsible for applying this Code to specific situations in which questions are presented under it and have the authority to interpret this Code in any particular situation.[<sup>3</sup>](#_bookmark2) However, the Independent Directors of the respective FT Funds will consider any approvals or waivers[<sup>4</sup>](#_bookmark3) sought by any Chief Executive Officers of the Funds.

The FT Funds will follow these procedures in investigating and enforcing this Code:

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Resources General Counsel or Deputy General Counsel will take all appropriate action to investigate any potential violations reported to the Legal Department;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If, after such investigation, the General Counsel or Deputy General Counsel believes that no violation has occurred, The General Counsel is not required to take any further action;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any matter that the General Counsel or Deputy General Counsel believes is a violation will be reported to the Independent Directors of the appropriate FT Fund;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the Independent Directors concur that a violation has occurred, it will inform and make a recommendation to the Board of the appropriate FT Fund or Funds, which will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer;

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Independent Directors will be responsible for granting waivers, as appropriate; and

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any changes to or waivers of this Code will, to the extent required, are disclosed as provided by SEC rules.[<sup>5</sup>](#_bookmark4)

VI. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Policies and Procedures

This Code shall be the sole code of ethics adopted by the FT Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the FT Funds, the FT Funds' advisers, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The FTI Personal Investments and Insider Trading Policy, adopted by the FT Funds, FT investment advisers and FT Fund's principal underwriter pursuant to Rule 17j-1 under the Investment Company Act, the Code of Ethics and Business Conduct and more detailed policies and procedures set forth in FT's Employee Handbook are separate requirements applying to the Covered Officers and others, and are not part of this Code.

<sup>3</sup> Franklin Resources General Counsel and Deputy General Counsel are authorized to consult, as appropriate, with members of the Audit Committee, counsel to the FT Funds and counsel to the Independent Directors, and are encouraged to do so.

<sup>4</sup> Item 2 of Form N-CSR defines "waiver" as "the approval by the registrant of a material departure from a provision of the code of

ethics" and "implicit waiver," which must also be disclosed, as "the registrant's failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer" of the registrant. See Part X.

See Part X.

VII. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amendments

Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the FT Funds' Board including a majority of independent directors.

VIII. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the FT Funds' Board and their counsel.

IX. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Internal Use

The Code is intended solely for the internal use by the FT Funds and does not constitute an admission, by or on behalf of any FT Funds, as to any fact, circumstance, or legal conclusion.

X. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosure on Form N-CSR

Item 2 of Form N-CSR requires a registered management investment company to disclose annually whether, as of the end of the period covered by the report, it has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these officers are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, it must explain why it has not done so.

The registrant must also: (1) file with the SEC a copy of the code as an exhibit to its annual report; (2) post the text of the code on its Internet website and disclose, in its most recent report on Form N-CSR, its Internet address and the fact that it has posted the code on its Internet website; or (3) undertake in its most recent report on Form N-CSR to provide to any person without charge, upon request, a copy of the code and explain the manner in which such request may be made. Disclosure is also required of amendments to, or waivers (including implicit waivers) from, a provision of the code in the registrant's annual report on Form N-CSR or on its website. If the registrant intends to satisfy the requirement to disclose amendments and waivers by posting such information on its website, it will be required to disclose its Internet address and this intention.

The Legal Department shall be responsible for ensuring that:

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a copy of the Code is filed with the SEC as an exhibit to each Fund's annual report; and

· &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; any amendments to, or waivers (including implicit waivers) from, a provision of the Code is disclosed in the registrant's annual report on Form N-CSR.

In the event that the foregoing disclosure is omitted or is determined to be incorrect, the Legal Department shall promptly file such information with the SEC as an amendment to Form N-CSR.

In such an event, the Fund Chief Compliance Officer shall review the Code and propose such changes to the Code as are necessary or appropriate to prevent reoccurrences.

# EXHIBIT A
Persons Covered by the Franklin Templeton Funds Code of Ethics

January 1, 2022

# FRANKLIN GROUP OF FUNDS
Edward Perks&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive Officer – Investment Management

Rupert H. Johnson, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chairman of the Board and Vice President

Michael McCarthy&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive Officer – Investment Management

Sonal Desai, Ph D&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive Officer – Investment Management

Matthew Hinkle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer – Finance and Administration

Christopher Kings&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer and Chief Accounting Officer and Treasurer

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

# FRANKLIN MUTUAL SERIES FUNDS
Christian K. Correa&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer – Investment Management

Matthew Hinkle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer – Finance and Administration

Christopher Kings&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer and Chief Accounting Officer and Treasurer

# FRANKLIN ALTERNATIVE STRATEGIES FUNDS
Brooks Ritchey&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive Officer – Investment Management

Matthew Hinkle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer – Finance and Administration

Christopher Kings&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer, Chief Accounting Officer and Treasurer

# TEMPLETON GROUP OF FUNDS
Rupert H. Johnson Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chairman of the Board and Vice President

Manraj S. Sekhon&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive Officer – Investment Management

Michael Hasenstab, Ph.D. &nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive Officer – Investment Management

Alan Bartlett&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President and Chief Executive Officer – Investment Management

Matthew Hinkle&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer – Finance and Administration

Christopher Kings&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer, Chief Accounting Officer and Treasurer

# Exhibit B ACKNOWLEDGMENT FORM

### Franklin Templeton Funds Code of Ethics
**For Principal Executives and Senior Financial Officers**

### Instructions:
1. &nbsp;&nbsp;&nbsp;&nbsp; Complete all sections of this form.

2. &nbsp;&nbsp;&nbsp;&nbsp; Print the completed form, sign, and date.

3. &nbsp;&nbsp;&nbsp;&nbsp; Submit completed form to FT's General Counsel c/o Code of Ethics Administration within 10 days of becoming a Covered Officer and by February 15th of each subsequent year.

**E-mail:&nbsp;&nbsp;&nbsp;&nbsp;** Code of Ethics Inquiries & Requests (internal address); lpreclear@franklintempleton.com (external address)

---

| |
|:---|
| **Covered Officer's Name:** |
| **Title:** |
| **Department:** |
| **Location:** |
| **Certification for Year Ending:** |

---

***To: Franklin Resources General Counsel, Legal Department***

 ****

I acknowledge receiving, reading and understanding the Franklin Templeton Fund's Code of Ethics for Principal Executive Officers and Senior Financial Officers (the "Code"). I will comply fully with all provisions of the Code to the extent they apply to me during the period of my employment. I further understand and acknowledge that any violation of the Code may subject me to disciplinary action, including termination of employment.

---

| | |
|:---|:---|
| &nbsp;&nbsp; ***Signature*** | &nbsp;&nbsp; ***Date signed*** |

---

## Ex-99.Cert

I, Matthew T. Hinkle, certify that:

1. &nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this report on Form N-CSR of **Templeton Income Trust**;

2. &nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. &nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. &nbsp;&nbsp;&nbsp;&nbsp; The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. &nbsp;&nbsp;&nbsp;&nbsp; The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

2/27/2023

S\MATTHEW T. HINKLE

Matthew T. Hinkle

Chief Executive Officer - Finance and Administration

I, Christopher Kings, certify that:

1. &nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this report on Form N-CSR of **Templeton Income Trust**;

2. &nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. &nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. &nbsp;&nbsp;&nbsp;&nbsp; The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. &nbsp;&nbsp;&nbsp;&nbsp; The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

2/27/2023

S\CHRISTOPHER KINGS

Christopher Kings

Chief Financial Officer, Chief Accounting Officer and Treasurer