# EDGAR Filing Document

**Accession Number:** 0000757010
**File Stem:** 0002071691-26-001227
**Filing Date:** 2026-1
**Character Count:** 54306
**Document Hash:** 0e7fa85036ee66e2fcb9a8045cf3bf38
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-26-001227.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0002071691-26-001227

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN TAX FREE TRUST
- **CENTRAL INDEX KEY:** 0000757010

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04149
- **FILM NUMBER:** 26562790

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

## Series and Classes Contracts Data

### FRANKLIN LOUISIANA TAX-FREE INCOME FUND (Series ID: S000006916)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018765 | CLASS A1      | FKLAX           |
| C000018766 | CLASS C       | FLAIX           |
| C000173668 | Advisor Class | FLTZX           |
| C000194357 | Class R6      | FLAQX           |
| C000205895 | Class A       | FQLAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Franklin Tax Free Trust

- **b. Investment Company Act file number:** 811-04149

- **c. CIK number of Registrant:** 0000757010

- **d. LEI of Registrant:** 549300C12HCE48FV1C70

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Franklin Louisiana Tax-Free Income Fund

- **b. EDGAR series identifier (if any):** S000006916

- **c. LEI of Series:** 549300B01PP1PIPE6I55

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $222607006.08

**Total Liabilities:** $747503.84

**Net Assets:** $221859502.24

**Cash Not Reported:** $2502510.13

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** -337.44000000 | **5-Year:** -2688.11000000 | **10-Year:** -59652.13000000 | **30-Year:** -67754.09000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -1.65000000 | **1-Year:** -9.52000000 | **5-Year:** -720.28000000 | **10-Year:** -10741.58000000 | **30-Year:** -14530.58000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000018765 | 3.15%                | 1.29%                | 0.64%                |
| Class ID C000018766 | 3.05%                | 1.32%                | 0.59%                |
| Class ID C000173668 | 3.05%                | 1.40%                | 0.55%                |
| Class ID C000194357 | 3.05%                | 1.40%                | 0.55%                |
| Class ID C000205895 | 3.03%                | 1.38%                | 0.53%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-172840.21              | $6483742.91                                |
| Month 2  | $-131892.98              | $2413708.82                                |
| Month 3  | $-103332.93              | $893658.15                                 |

### Schedule of Portfolio Investments

| Name                                                                                  | Title                                                                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Caddo Parish Parishwide School District                                               | Caddo Parish Parishwide School District, Series 2021                                                   | CUSIP: 127269NA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $487223.70    | 0.22%             | 2036-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Capital Trust Agency, Inc.                                                            | Capital Trust Agency, Inc., Series 2021 A-1                                                            | CUSIP: 14052TDY7<br>LEI: 549300F49UWS7X0OGQ59 | Long             | DBT              | MUN               | US        |    500000 | PA      | $337991.80    | 0.15%             | 2057-01-01      | Fixed         | 3.68%                 | No            |                  2 | On Loan: No      |
| Capital Trust Authority                                                               | Capital Trust Authority, Series 2024                                                                   | CUSIP: 14054XAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $1943858.34   | 0.88%             | 2029-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of Dallas Housing Finance Corp.                                                  | City of Dallas, Series 2022 A                                                                          | CUSIP: 23529CAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $416911.50    | 0.19%             | 2062-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| East Baton Rouge Sewerage Commission                                                  | East Baton Rouge Sewerage Commission, Series 2019 A                                                    | CUSIP: 270618FQ9<br>LEI: 5493006BC84VNIRSCG97 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2919510.90   | 1.32%             | 2045-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Greater New Orleans Expressway Commission                                             | Greater New Orleans Expressway Commission, Series 2025                                                 | CUSIP: 39225PBS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1095945.80   | 0.49%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater Ouachita Water Co.                                                            | Greater Ouachita Water Co., Series 2024                                                                | CUSIP: 392276BC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $964767.80    | 0.43%             | 2053-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Jefferson Sales Tax District                                                          | Jefferson Sales Tax District, Series 2017 B                                                            | CUSIP: 474176KM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2293504.43   | 1.03%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jefferson Parish Consolidated Waterworks District No. 2                               | Jefferson Parish Consolidated Waterworks District No. 2, Series 2022                                   | CUSIP: 474502EU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5050080.50   | 2.28%             | 2040-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Juban Crossing Economic Development District                                          | Juban Crossing Economic Development District, Series 2024 C                                            | CUSIP: 48125RCK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514858.85   | 0.68%             | 2054-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lafayette LA Sales & Use Tax Revenue                                          | City of Lafayette, Series 2019 A                                                                       | CUSIP: 506485KF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2443142.96   | 1.10%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lafayette Parish School Board Sale Tax                                                | Lafayette Parish School Board, Series 2023                                                             | CUSIP: 506624UR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2308434.00   | 1.04%             | 2053-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lafayette Parish School Board Sale Tax Revenue                                        | Lafayette Parish School Board, Series 2025                                                             | CUSIP: 506624VK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1659681.75   | 0.75%             | 2055-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Lafayette Parish School Board Sale Tax Revenue                                        | Lafayette Parish School Board, Series 2025 A                                                           | CUSIP: 506624WC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1577674.95   | 0.71%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Livingston Parish School District No. 1                                               | Livingston Parish School District No. 1, Series 2021                                                   | CUSIP: 538803WX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1065002.09   | 0.48%             | 2038-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2024 A-1 | CUSIP: 546276DM5<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1260205.25   | 0.57%             | 2031-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2024 A-2 | CUSIP: 546276DN3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $4156218.95   | 1.87%             | 2044-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Housing Corp.                                                               | Louisiana Housing Corp., Series 2021 B                                                                 | CUSIP: 54627DGM7<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |    615000 | PA      | $517632.95    | 0.23%             | 2036-06-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Louisiana Housing Corp.                                                               | Louisiana Housing Corp., Series 2021 B                                                                 | CUSIP: 54627DGN5<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |   1965000 | PA      | $1495062.00   | 0.67%             | 2041-06-01      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Louisiana Housing Corp.                                                               | Louisiana Housing Corp., Series 2024 A                                                                 | CUSIP: 54627DPZ8<br>LEI: 549300VL35TBE7RSJH61 | Long             | DBT              | MUN               | US        |    990000 | PA      | $989083.56    | 0.45%             | 2044-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2017     | CUSIP: 5462826J8<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016926.50   | 0.46%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2024     | CUSIP: 54628C2G6<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    500000 | PA      | $548056.55    | 0.25%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2017 A   | CUSIP: 54628CAT9<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   5230000 | PA      | $5302398.37   | 2.39%             | 2041-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2022     | CUSIP: 54628CC83<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $1050532.07   | 0.47%             | 2030-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2022     | CUSIP: 54628CC91<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1065000 | PA      | $1100907.33   | 0.50%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2022     | CUSIP: 54628CD25<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1128982.69   | 0.51%             | 2032-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2022     | CUSIP: 54628CD33<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1176706.61   | 0.53%             | 2033-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2018     | CUSIP: 54628CEQ1<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3516156.35   | 1.58%             | 2048-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2022     | CUSIP: 54628CF80<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1690696.48   | 0.76%             | 2047-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2019     | CUSIP: 54628CHU9<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019024.30   | 0.46%             | 2034-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2023 A   | CUSIP: 54628CK84<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    600000 | PA      | $626249.64    | 0.28%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Authority | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2020     | CUSIP: 54628CRM6<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   2450000 | PA      | $2196373.55   | 0.99%             | 2045-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2021     | CUSIP: 54628CUF7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1623502.44   | 0.73%             | 2046-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2021 A   | CUSIP: 54628CUG5<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1393751.85   | 0.63%             | 2030-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2021 B   | CUSIP: 54628CUH3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2568677.40   | 1.16%             | 2036-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2021     | CUSIP: 54628CVE9<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    735000 | PA      | $658912.07    | 0.30%             | 2045-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2024     | CUSIP: 54628CX31<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |   2505000 | PA      | $2779782.72   | 1.25%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth      | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2021     | CUSIP: 54628CZX3<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    910000 | PA      | $833746.00    | 0.38%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2015 A                                                   | CUSIP: 546395R48<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   4965000 | PA      | $4968982.43   | 2.24%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2015 A-1                                                 | CUSIP: 546395S62<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   7800000 | PA      | $7906764.84   | 3.56%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2020 A                                                   | CUSIP: 546395V43<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4379806.50   | 1.97%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2016 A                                                   | CUSIP: 5463986N3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3037980.90   | 1.37%             | 2041-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2017                                                     | CUSIP: 5463986X1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $1509375.00   | 0.68%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2017                                                     | CUSIP: 546399CN4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   5695000 | PA      | $5752190.33   | 2.59%             | 2042-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2017                                                     | CUSIP: 546399CP9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2010699.60   | 0.91%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2016                                                     | CUSIP: 546399DB9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |     30000 | PA      | $30323.60     | 0.01%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2016                                                     | CUSIP: 546399DE3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |     20000 | PA      | $20215.73     | 0.01%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2019 A                                                   | CUSIP: 546399GC4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5069616.50   | 2.29%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2020 A-1                                                 | CUSIP: 546399KA3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1537103.20   | 0.69%             | 2050-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2021                                                     | CUSIP: 546399LG9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $1963056.81   | 0.88%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2021                                                     | CUSIP: 546399LJ3<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3460000 | PA      | $3294013.77   | 1.48%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2021                                                     | CUSIP: 546399LL8<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2617921.65   | 1.18%             | 2041-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2017 A                                                   | CUSIP: 546399NZ5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |     60000 | PA      | $61539.76     | 0.03%             | 2050-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2023 A                                                   | CUSIP: 546399RM0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    500000 | PA      | $518921.55    | 0.23%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2024 A                                                   | CUSIP: 546399SU1<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1112658.60   | 0.50%             | 2038-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2024                                                     | CUSIP: 546399SZ0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5201880.50   | 2.34%             | 2064-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2024                                                     | CUSIP: 546399TW6<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    800000 | PA      | $848034.32    | 0.38%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2025 A                                                   | CUSIP: 546399UN4<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3148275.30   | 1.42%             | 2055-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2016 A                                                   | CUSIP: 54639TBS0<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3504454.10   | 1.58%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2017                                                     | CUSIP: 54639TCJ9<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2313755.83   | 1.04%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Public Facilities Authority                                                 | Louisiana Public Facilities Authority, Series 2025                                                     | CUSIP: 54639TDT6<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2372022.00   | 1.07%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisiana Stadium & Exposition District                                               | Louisiana Stadium & Exposition District, Series 2023 A                                                 | CUSIP: 546410CY5<br>LEI: 5493000QEHWDGVGH7J62 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1814694.70   | 0.82%             | 2053-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Louisiana                                                                    | State of Louisiana, Series 2016 A                                                                      | CUSIP: 5464154B3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2575000 | PA      | $2608156.99   | 1.18%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Correctional Facilities Corp.                                               | Louisiana Correctional Facilities Corp., Series 2021                                                   | CUSIP: 546458DL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1490000 | PA      | $1497761.86   | 0.68%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Louisiana Gasoline & Fuels Tax Revenue                                       | State of Louisiana, Series 2023 A-2                                                                    | CUSIP: 546475VW1<br>LEI: N/A                  | Long             | STIV             | MUN               | US        |   2100000 | PA      | $2100000.00   | 0.95%             | 2043-05-01      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| State of Louisiana Gasoline & Fuels Tax Revenue                                       | State of Louisiana, Series 2024 A                                                                      | CUSIP: 546475WR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5857020.60   | 2.64%             | 2044-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Louisiana Gasoline & Fuels Tax Revenue                                       | State of Louisiana, Series 2025 B                                                                      | CUSIP: 546475XK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1777611.75   | 0.80%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Offshore Terminal Authority                                                 | Louisiana Offshore Terminal Authority, Series 2007 A                                                   | CUSIP: 546510FS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1513717.05   | 0.68%             | 2027-09-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Louisiana State University & Agricultural & Mechanical College                        | Louisiana State University & Agricultural & Mechanical College, Series 2016 A                          | CUSIP: 546540QC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4560991.20   | 2.06%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Natchitoches LA Utilities Revenue                                             | City of Natchitoches, Series 2023                                                                      | CUSIP: 631855QH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $809964.75    | 0.37%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Natchitoches Parish School District No. 9                                             | Natchitoches Parish School District No. 9, Series 2018                                                 | CUSIP: 632064HT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1516583.38   | 0.68%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New Orleans LA                                                                | City of New Orleans, Series 2021 A                                                                     | CUSIP: 64763FZB8<br>LEI: 54930084B6KHR5PR2651 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6414432.60   | 2.89%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                                            | New Orleans Aviation Board, Series 2017 A                                                              | CUSIP: 64763HGN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5019108.00   | 2.26%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                                            | New Orleans Aviation Board, Series 2024 B                                                              | CUSIP: 64763HMS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2626864.75   | 1.18%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Orleans Aviation Board                                                            | New Orleans Aviation Board, Series 2024 C-1                                                            | CUSIP: 64763HMT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1032221.30   | 0.47%             | 2054-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New Orleans LA Sewerage Service Revenue                                       | City of New Orleans, Series 2020 B                                                                     | CUSIP: 647719PV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1178704.54   | 0.53%             | 2050-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Ouachita Parish School District                                                  | East Ouachita Parish School District, Series 2025                                                      | CUSIP: 689861SL7<br>LEI: 549300BMHC0SO61IJP44 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1614381.60   | 0.73%             | 2045-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Pecan Public Facility Corp.                                                           | Pecan Public Facility Corp., Series 2022 A-2                                                           | CUSIP: 705125AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $946227.13    | 0.43%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port New Orleans Board of Commissioners                                               | Port New Orleans Board of Commissioners, Series 2020 D                                                 | CUSIP: 734782DB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2041967.20   | 0.92%             | 2050-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port New Orleans Board of Commissioners                                               | Port New Orleans Board of Commissioners, Series 2025 A                                                 | CUSIP: 734782ED3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3130405.50   | 1.41%             | 2055-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                              | Public Finance Authority, Series 2022 A                                                                | CUSIP: 74441XHM4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501688.10    | 0.23%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                              | Public Finance Authority, Series 2025 A-1                                                              | CUSIP: 74441XJD2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    855000 | PA      | $887669.98    | 0.40%             | 2036-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                              | Public Finance Authority, Series 2025 A-2                                                              | CUSIP: 74441XJE0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2290000 | PA      | $1089025.76   | 0.49%             | 2045-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                              | Public Finance Authority, Series 2022, Class B-1                                                       | CUSIP: 74442PVW2<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    800000 | PA      | $645162.24    | 0.29%             | 2044-12-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                                                  | Puerto Rico Electric Power Authority, Series VV                                                        | CUSIP: 74526Q2Q4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | PR        |    500000 | PA      | $506664.90    | 0.23%             | 2032-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                               | Puerto Rico Sales Tax Financing Corp., Series A-1                                                      | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   3500000 | PA      | $3332004.55   | 1.50%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                               | Puerto Rico Sales Tax Financing Corp., Series A-1                                                      | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1196000 | PA      | $1166059.10   | 0.53%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rapides Parish School District No. 11 Rigolette                                       | Rapides Parish School District No. 11 Rigolette, Series 2023                                           | CUSIP: 753533FX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001182.50   | 0.45%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rapides Parish Consolidated School District No. 62                                    | Rapides Parish Consolidated School District No. 62, Series 2022                                        | CUSIP: 753608GB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1160583.49   | 0.52%             | 2042-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Development Authority of Rockdale County                                              | Development Authority of Rockdale County, Series 2025 A-1                                              | CUSIP: 77300QAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    185000 | PA      | $192228.38    | 0.09%             | 2036-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Development Authority of Rockdale County                                              | Development Authority of Rockdale County, Series 2025 A-1                                              | CUSIP: 77300QAL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $239347.68    | 0.11%             | 2045-12-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| St John the Baptist Parish School District No. 1                                      | St. John the Baptist, Series 2023                                                                      | CUSIP: 790229SX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $3453521.28   | 1.56%             | 2043-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| St Tammany Parish Hospital Service District No. 1                                     | St. Tammany Parish Hospital Service District No. 1, Series 2018 A                                      | CUSIP: 793556CM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3020092.50   | 1.36%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA                                                                 | City of Shreveport, Series 2024                                                                        | CUSIP: 8254346N8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4950000 | PA      | $5082761.48   | 2.29%             | 2054-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA Water & Sewer Revenue                                           | City of Shreveport, Series 2016 B                                                                      | CUSIP: 825485VF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3983552.40   | 1.80%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA Water & Sewer Revenue                                           | City of Shreveport, Series 2020 B                                                                      | CUSIP: 825485XS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5070000 | PA      | $3668610.43   | 1.65%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Tangipahoa Parish Hospital Service District No. 1                                     | Tangipahoa Parish Hospital Service District No. 1, Series 2021                                         | CUSIP: 875518EV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2291609.48   | 1.03%             | 2035-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tangipahoa Parish Hospital Service District No. 1                                     | Tangipahoa Parish Hospital Service District No. 1, Series 2021                                         | CUSIP: 875518EY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2006988.80   | 0.90%             | 2038-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Terrebonne Levee & Conservation District                                              | Terrebonne Levee & Conservation District, Series 2020 B                                                | CUSIP: 881182BV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003578.90   | 0.45%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Parish of Terrebonne LA                                                               | Parish of Terrebonne, Series 2020 A                                                                    | CUSIP: 881250FF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2660000 | PA      | $2673008.73   | 1.20%             | 2041-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Washington State Housing Finance Commission                                           | Washington State Housing Finance Commission, Series 2021 A                                             | CUSIP: 939783H58<br>LEI: 549300YL1HU59NREG764 | Long             | DBT              | MUN               | US        |    700000 | PA      | $602960.96    | 0.27%             | 2037-01-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| West Feliciana Parish Parishwide Consolidated School District No. 1                   | West Feliciana Parish Parishwide Consolidated School District No. 1, Series 2020                       | CUSIP: 952785GH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2748050.10   | 1.24%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** Franklin Tax Free Trust

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer