# EDGAR Filing Document

**Accession Number:** 0000773478
**File Stem:** 0001868420-23-000031
**Filing Date:** 2023-2
**Character Count:** 284321
**Document Hash:** 296e7e59277edd9200c3af98cd856964
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001868420-23-000031.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001868420-23-000031

**CONFORMED SUBMISSION TYPE**: N-CSRS

**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:** Franklin California Tax Free Trust
- **CENTRAL INDEX KEY:** 0000773478
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04356
- **FILM NUMBER:** 23678579

**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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CALIFORNIA TAX FREE TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN CALIFORNIA INTERMEDIATE-TERM TAX-FREE INCOME FUND (Series ID: S000006719)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018281 | Class A1      | FKCIX           |
| C000018282 | Class C       | FCCIX           |
| C000073519 | Advisor Class | FRCZX           |
| C000194407 | Class R6      | FCCRX           |
| C000198605 | Class A       | FCCQX           |

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

# **FORM N-CSRS**

# **CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number 811-04356

Franklin California Tax-Free Trust

(Exact name of registrant as specified in charter)

One Franklin Parkway, San Mateo, CA 94403-1906

##NEWLINE## (Address of principal executive offices)(Zip code)

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

##NEWLINE## (Name and address of agent for service)

Registrant's telephone number, including area code: 650.312-2000

Date of fiscal year end: 6/30

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**

.

SEMIANNUAL REPORT AND SHAREHOLDER LETTER

# INTERMEDIATE-TERM TAX-FREE INCOME FUND

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

Sign up for electronic delivery at franklintempleton.com/edelivery

Dear Shareholder:

During the six months ended December 31, 2022, the U.S. economy showed mixed results as it continued to recover

As always, we recommend investors consult their financial professionals for up-to-date advice on their holdings. In

## SHAREHOLDER LETTER

↗

- -

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

Not FDIC Insured | May Lose Value | No Bank Guarantee

Banklemanplaintor.com

Seminarized Report

1

1. Source: Morningstar

from the COVID-19 pandemic amid declining unemployment, rising wages and personal consumption. Reported U.S. gross domestic product contracted in 2022's second quarter due to declines in inventory and business investment but since 2021's third quarter as the trade deficit narrowed and from California's third quarter 2022's second quarter 2023. Inflation eased Tax-Free Income Fund during the six-month period but remained high due to Performance Summary 5
Your Fund's Expenses 7

a constantly changing market environment, we remain committed to our disciplined strategy as we manage the Fund, keeping in mind the trust you have placed in us.

We appreciate your confidence in us and encourage you to contact us or your financial professional when you have questions about your Franklin tax-free investment.

## Contents

2 | Semiannual Report

franklin@epsilon.com

pandemic-related supply-chain issues, higher energy prices. Sincerely,

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

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Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

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Financial Research and Solutions of the United States

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Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

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Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

Financial Research and Solutions of the United States

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Financial Research and Solutions of the United States

# SEMIANNUAL REPORT

of 20% backup withholding on all Fund distributions and redemption proceeds. U.S. investors must be properly notified on Form W-8 and non-U.S. investors on Form W-8.

2. The distribution amount is the sum of all estimated tax levies not investment income distributions for the period shown. A portion or all of the distributions may be reclassified as much of capital or short-term or long-term capital gains since final tax designations are known. Assumes shares were purchased and held for the entire account period. Since dividends across daily, your actual distributions will vary depending on the date you purchased your shares and any account activity. All Fund distributions will vary depending upon current market conditions, and past distributions are not indicative of future trends.

3. Source: Morningstar, Treasurer, VNA is maturity, offer a fixed rate of return and a fixed principal value (from interest payments and principal use guaranteed).

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).

fundstamplest.com

Semiannual Report

3

1. For investors subject to alternative minimum tax, a small portion of Fund dividends may be taxable. Distributions of capital gains are generally taxable. To avoid imposition

to 4.50% during the period. The Federal Reserve stated its
The term is used in the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve

## State Update

During the six-month period, California's large and diverse
economy showed signs of slowing amid climbing interest
rates and persistently high inflation. California's economy is

Rupert H. Johnson, Jr.

The performance data represent past performance, which does
not give California's results. The Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on the Federal Reserve's report on the
The Federal Reserve's report on

| Utilities | 17.68% |
| --- | --- |
| Transportation | 14.06% |
| Special Tax | 12.96% |

FRANKLIN CALIFORNIA INTERMEDIATE-TERM TAX-FREE INCOME FUND

Corporate Investment Grade Index, posted a -1.61% total

The DOI begins on page 11.

5. This does not indicate Moody's rating of the Fund.

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

4. Semiannual Report

franklintempleton.com

6. Source: Moody's Investors Service, States - U.S. Debt, pension and OPEB liabilities set up in fiscal 2021, 6/7/22.

The figures are based on the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023 of the 2022 and 2023

# **Multiclass Bond Market Overview**

SUNIA VOE President

Issued by an annual meeting December 31, 2022

Issued by an annual meeting December 31, 2022

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Issued by an annual meeting December 31, 2022

Issued by an annual meeting December 31, 2022

Issued by an annual meeting December 31, 2022

Performance as of 12/31/221

FRANKLIN CALIFORNIA INTERMEDIATE-TERM TAX-FREE INCOME FUND

# Performance Summary as of December 31, 2022

The performance tables do not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions.

Markimamplatan.com

Seminarized Report

5

See page 8 for Performance Summary footnotes.

PERMANENTLY, the company's business is a major part of the company's business. The company's business is a major part of the company's business. The company's business is a major part of the company's business. The company's business is a major part of the company's business.

Share Class
Cumulative Average Annual
Total Return 1 Total Return 2

FRANKLIN CALIFORNIA INTERMEDIATE-TERM TAX-FREE INCOME FUND

6. | Sensormonal Report | franklin@coun.com

franklintempleton.com, you can find updated commentary by our municipal bond team. Municipal bonds provide

# **Performance Overview**

The financial statements and financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements

After a challenging start to 2022, municipal bonds (munis) had modestly positive absolute returns for 2022's second half and performed better than duration-matched USTs.

Ratios between muni and UST yields improved through the period, especially in short- and intermediate-periods. The financial statements reflect our analysis, estimates and analysis liabilities as of December 31, 2022. The financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements of the financial statements

# **Actual Fund Expenses**

FRANKLIN CALIFORNIA INTERMEDIATE-TERM TAX-FREE INCOME 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-1.jpeg](img-1.jpeg)

franklintempleton.com

Seminarized Report 7

dividends totaling 13.7158 cents per share for the reporting period. The plan, in which the reporting period the Fund's Class A shares' distribution rate was 2.79%, based on

potential economic slowdown, fundamentals remained positive amid prudent fiscal management by municipal bond issuers.

An annual analysis of the Company's 5,000 cents per share of the Fund's Class A shares' distribution rate was 2.79%, based on an annual analysis of the Company's 5,000 cents per share of the Fund's Class A shares' distribution rate was 2.79%. The plan, in which the reporting period the Fund's Class A shares' distribution rate was 2.79%, based on an annual analysis of the Company's 5,000 cents per share of the Fund's Class A shares' distribution rate was 2.79%. The plan, in which the reporting period the Fund's Class A shares' distribution rate was 2.79%, based on an annual analysis of the Company's 5,000 cents per share of the Fund's Class A shares' distribution rate was 2.79%. The plan, in which the reporting period the Fund's Class A shares' distribution rate was 2.79%, based on an annual analysis of the Company's 5,000 cents per share of the Fund's Class A shares' distribution rate was 2.79%. The plan, in which the reporting period the Fund's Class A shares' distribution rate was 2.79%, based on an annual analysis of the Company's 5,000 cents per share of the Fund's Class A shares' distribution rate was 2.79%. The plan, in which the reporting period the Fund's Class A shares' distribution rate was 2.79%, based on an annual analysis of the Company's 5,000 cents per share of the Fund's Class A shares' distribution rate was 2.79%. The plan, in which the reporting period the Fund's Class A shares' distribution rate was

FRANKLIN CALIFORNIA TAX-FREE TRUST

## Financial Highlights

*For the period September 18, 2018 (effective date) to June 30, 2020

*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 to relative to income earned within 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, and is not annualized for periods less than one year.

Notes are annualized for periods less than one year.

Benefit of expense reduction results in less than 0.01%

9 | Semiannual Report | The accompanying notes are an integral part of these financial statements.

franklin@compt.com

combined effective federal and California personal income tax bracket of 53.10% (including 3.80% Medicare tax) would need to earn a distribution rate of 5.95% from a

the period.1 Investment-grade munis, as measured by the Bloomberg Municipal Bond Index, posted a +0.50% total return, while USTs, as measured by the Bloomberg U.S.

legally determined to match the Fund's Class A tax line.

The Company's shareholding is based on the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in the Company's shareholding in

FRANKLIN CALIFORNIA TAX-FREE TRUST

1The 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 and/or fluctuating fair sales of the investments of the Fund.

2Based on average daily shares outstanding.

3Total return does not reflect sales commissions or contingent deferred sales charges, if applicable, and is not annualized for periods less than one year.

4Ratios are annualized for periods less than one year.

5Benefit of expense reduction rounds to less than 1.6%.

BankInterpolation.com

The accompanying notes are an integral part of these financial statements.1 Semiannual Report

9

FINANCIAL HIGHLIGHTS

proved broad-canging economic sanctions on Russia and certain Russian individuals, banking entities and corporations as a response to its invasion of Ukraine. The policy of the government has been very intensely economic sanctions on between and may impose sanctions on other countries that support Russia's financial and financial position. In addition, the financial situation is not to be taken into account. The financial situation is not to be taken into account. The financial situation is not to be taken into account. The financial situation is not to be taken into account. The financial situation is not to be taken into account. The financial situation is not to be taken into account. The financial situation is not to be taken into account. The financial situation is not to be taken into account. The financial situation is not to be taken into account. The financial situation is not to be taken into account.

FRANKLIN CALIFORNIA TAX-FREE 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 relative to income earned 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, and is not annualized for periods less than one year.
*Notes are annualized for periods less than one year.
*Benefit of expense reduction results to less than 0.01%.

10 | Semiannual Report | The accompanying notes are an integral part of these financial statements.

franklinesp@sun.com

FINANCIAL HIGHLIGHTS

Note: In case of the change in value of an investment over the periods indicated

3. Any other financial information that may be used to make changes in value of an investment over the periods indicated. Return for less than one year, if any, has not been

| Franklin California Intermediate-Term Tax-Free Income Fund (continued) |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Item Number |  |  |  |  |  |  |  |
| 1. The amount of interest in the investment in the financial statements is $1,000.00. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 2. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 3. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 4. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 5. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 6. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 7. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 8. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 9. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 10. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 11. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 12. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 13. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 14. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 15. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 16. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 17. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 18. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 19. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 20. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 21. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 22. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 23. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 24. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 25. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 26. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 27. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 28. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 29. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |
| 30. The amount of interest in the financial statements is $1,000.00. |  |  |  |  |  |  |  |

FRANKLIN CALIFORNIA TAX-FREE TRUST

*For the period August 1, 2017 (effective date) to June 30, 2018.

†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 and/or fluctuating fair value of the investments of the Fund.

‡Based on average daily shares outstanding.

§Total return is not annualized for periods less than one year.

¶Ratios are annualized for periods less than one year.

||Benefit of expense reduction courses is less than 0.05%.

MarklinComptroller.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Semiannual Report

11

FINANCIAL HIGHLIGHTS

6. Taxable equivalent distribution rate and yield assume the published rates as of 6/20/22 for the maximum combined effective federal and California personal income tax rate of $2.33%. Issued on the federal income tax rate of $7.00% plus 3.00% Medicare tax. This combined rate does not consider the impact of California's surcharge on taxable income of $1.00.

# **Franklin California Intermediate Term Tax-Free Income Fund (continued)**[{"box_2d": [31, 81, 560, 150], "label": "table", "caption": "

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

|  | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
| --- | --- | --- | --- | --- | --- | --- |
| Net income from the United States | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 |

<table><thead><tr><th></th><th>2018</th><th>2019</th><th>2020</th><th>2021</th><th>2022</th><th>2023</th></tr></thead><tr><td>Net income from the United States</td><td>$1,000</td><td>$1,000</td

# Franklin California Intermediate-Term Tax-Free Income Fund

| Period | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
| --- | --- | --- | --- | --- | --- | --- |
| Net asset value, end of period | $10.82 | $11.01 | $12.18 | $12.06 | $11.65 | $12.00 |
| Net asset value, end of period | $11.01 | $12.18 | $12.12 | $12.06 | $11.65 | $12.00 |
| Net asset value, end of period | $47,104.00% | $54,480.00% | $101,558.00% | $139,818.00% | $170,248.00% | $221,018.00% |
| Net asset value, end of period | 16,888 | 29,888 | 6,888 | 16,888 | 15,888 | 3,888 |
| Net asset value, end of period | (0.09) | (1.17) | 0.08 | 0.04 | 0.26 | (0.21) |
| Total asset value, end of period | 0.08 | 0.08 | 0.04 | 0.08 | 0.08 | 0.08 |
| Less: Net asset value, end of period | 0.08 | 0.08 | 0.04 | 0.08 | 0.08 | 0.08 |
| Less: Net asset value, end of period | 0.08 | 0.08 | 0.04 | 0.08 | 0.08 | 0.08 |
| Net asset value, end of period | 0.08 | 0.08 | 0.04 | 0.08 | 0.08 | 0.08 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |
| Less: Net asset value, end of period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Less: Net asset value, end of period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net asset value, end of period | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

| Year | 2022 | 2021 | 2020 | 2019 | 2018 |
| --- | --- | --- | --- | --- | --- |
| Total asset value, end of period | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 |

Franklinamplatan.com

Franklinamplatan.com

Franklinamplatan.com

Franklinamplatan.com

Franklinamplatan.com

Franklinamplatan.com

Franklinamplatan.com

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)[{"box_2d": [31, 85, 560, 153], "label": "table", "caption": "

| Net asset value (US$) | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |
| Total Non-Asset Value (US$) | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| Total Non-Asset Value (US$) | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| Total Non-Asset Value (US$) | $10.92 | $11.01 | $12.18 | $12.18 |  |  |
| Total Non-Asset Value (US$) | $10.92 | $11.01 | $12.18 | $12.18 |  |  |
| Total Non-Asset Value (US$) | $10.92 | $11.01 | $12.18 | $12.18 |  |  |
| Total Non-Asset Value (US$) | $10.92 |  |  |  |  |  |
| Total Non-Asset Value (US$) | $10.92 |  |  |  |  |  |
| Total Non-Asset Value (US$) | $10.92 |  |  |  |  |  |
| Total Non-Asset Value (US$) | $10.92 |  |  |  |  |  |
| Total Non-Asset Value (US$) | $10.92 |  |  |  |  |  |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |
| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| Interest | $10.92 |  |  |  |  |  |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |
| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| Interest | $10.92 |  |  |  |  |  |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |
| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |
| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 |  |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |
| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 |  |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Expenses | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Expenses | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Expenses | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Expenses | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- |

| Interest | $10.92 | $11.01 | $12.18 | $12.18 | $12.18 | $12.18 |
| --- | --- | --- | --- | --- | --- | --- |

<table><tr><td>Interest</td><td

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Long-term (Fremont, Bowman, 2012 A, Bellingham, 1998, 4/01/06) | 2,000,000,000 | 2,000,000,000 |
| --- | --- | --- |
| Supplemental Income (Fremont, Bowman, 2012 A, Bellingham, 1998, 4/01/07) | 2,000,000,000 | 2,000,000,000 |
| Net assets (Fremont, Bowman, 2012 A, Bellingham, 1998, 4/01/08) | $716,880 | $619,200,000 |
| Portland, Oregon, 2012 A, Bellingham, 1998, 4/01/09 | 18.65% | 13.28% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/10 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/11 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/12 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/13 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/14 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/15 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/16 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/17 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/18 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/19 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/20 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/21 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/22 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/23 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/24 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/25 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/26 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/27 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/28 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/29 | 1,20% | 1,20% |
| Provided to the State of Oregon, 2012 A, Bellingham, 1998, 4/01/30 | 1,20% | 1,20% |

FRANKLIN CALIFORNIA TAX-FREE TRUST

Franklintempleton.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Generational Report

15

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

|  | Premiums | Total |
| --- | --- | --- |
| California Corp. (USA) Investment (USA) (S. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. | 105,000 | 104,454 |
| California Corp. (USA) Investment (USA) (S. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. | 105,000 | 104,454 |
| California Corp. (USA) Investment (USA) (S. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. | 105,000 | 104,454 |
| California Corp. (USA) Investment (USA) (S. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. R. | 105,000 | 104,454 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

38

Switzerland Report 1. The accompanying notes are an integral part of these financial statements.

franklin@compt.com

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| CA | 1,069,488 |
| --- | --- |
| CA | 2,584,000 |
| CA | 1,094,000 |
| CA | 2,590,000 |
| CA | 2,590,000 |
| CA | 2,590,000 |
| CA | 2,590,000 |
| CA | 2,590,000 |
| CA | 2,590,000 |
| CA | 2,590,000 |
| CA | 2,590,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

franklintempleton.com

The accompanying notes are an integral part of these financial statements' contractual impact

17

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| California's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| California's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| California's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| California's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York | 1,000,000 | 1,000,000 |
| --- | --- | --- |

| New York's First National Bank of California, 1914 | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| New York | 1,000,000 | 1,000,000 |

18

Switzerland Report 1 The accompanying notes are integral part of these financial statements.

franklinengreen.com

18

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Revenues and Income (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 4,800,000,000 | 4,800,000,000 |
| --- | --- | --- |
| Net Income (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 2,000,000,000 | 2,000,000,000 |
| Net Income (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 1,800,000,000 | 1,800,000,000 |
| Net Income (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 2,815,000,000 | 3,105,000,000 |
| Cash (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 1,800,000,000 | 1,800,000,000 |
| Net Income (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 1,805,000,000 | 1,805,000,000 |
| Net Income (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 5,800,000,000 | 6,800,000,000 |
| Net Income (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 3,105,000,000 | 2,705,000,000 |
| Net Income (Unrealized) (Gross) (Gross) (Gross) (Gross) (Gross) | 1,800,000,000 | 1,800,000,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

franklintempleton.com

The accompanying notes are an integral part of these financial statements' contractual Report

13

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Non-Commercial Tax Rate | 1,000,000 | 1,435,000 |
| --- | --- | --- |
| Total | 1,000,000 | 1,435,000 |
| Non-Commercial Tax Rate | 1,000,000 | 1,435,000 |
| Non-Commercial Tax Rate | 1,000,000 | 1,435,000 |
| Non-Commercial Tax Rate | 1,000,000 | 1,435,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

28

Switzerland Report 1 The accompanying notes are an integral part of these financial statements.

franklinengreen.com

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)[{"box_2d": [51, 83, 560, 150], "label": "table", "caption": "

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |
| CA | 1,350,000,000 | 1,350,000,000 |
| CA | 1,350,000,000 | 1,350,000,000 |
| CA | 1,350,000,000 | 1,350,000,000 |
| CA | 1,350,000,000 | 1,350,000,000 |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |
| CA | 1,350,000,000 | 1,350,000,000 |
| CA | 1,350,000,000 | 1,350,000,000 |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |
| CA | 1,350,000,000 | 1,350,000,000 |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |
| CA | 1,350,000,000 | 1,350,000,000 |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table>

| CA | 1,350,000,000 | 1,350,000,000 |
| --- | --- | --- |

</table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table></table><tr><td>CA</td><td>1,350,000,000</td><td>1,350,000,000</td></tr></table></table></table></table><tr><td>CA</

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Cash and cash equivalents at end of year | 3,000,000,000 | 3,000,000,000 |
| --- | --- | --- |
| Cash and cash equivalents at end of year | 1,000,000,000 | 1,000,000,000 |
| Cash and cash equivalents at end of year | 1,000,000,000 | 1,000,000,000 |
| Cash and cash equivalents at end of year | 1,000,000,000 | 1,000,000,000 |
| Cash and cash equivalents at end of year | 1,000,000,000 | 1,000,000,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

22

Switzerland Report 1 The accompanying notes are an integral part of these financial statements.

franklin@comcast.com

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 1,526,000,000 | 1,526,000,000 |
| --- | --- | --- |
| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 1,526,000,000 | 1,526,000,000 |
| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 1,745,000,000 | 1,745,000,000 |
| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 1,745,000,000 | 1,745,000,000 |
| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 1,995,000,000 | 1,995,000,000 |
| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 1,995,000,000 | 2,000,000,000 |
| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 2,000,000,000 | 2,000,000,000 |
| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 2,000,000,000 | 2,000,000,000 |
| Total Investment Income (Total Investment Income) (2021-A) (Refunding) | 2,000,000,000 | 2,000,000,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

franklintempleton.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Sensational Report

25

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |

<tr><td>Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20</td><td>1.1</td></tr></table>

| Fund | Percentage |
| --- | --- |

| Fund | Percentage |
| --- | --- |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

| Fund | Percentage |
| --- | --- |
| Fund | Percentage |
| Financial Services, Services, Tax Free Income, 2022 Q4, 5/25/20 | 1.1 |

24

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Commodity Tax Rate | 2,100,000,000 | 2,100,000,000 |
| --- | --- | --- |
| Commodity Tax Rate | 2,100,000,000 | 2,100,000,000 |
| Commodity Tax Rate | 1,800,000,000 | 1,800,000,000 |
| Commodity Tax Rate | 1,800,000,000 | 1,800,000,000 |
| Commodity Tax Rate | 1,800,000,000 | 1,800,000,000 |
| Commodity Tax Rate | 1,800,000,000 | 1,800,000,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

franklintempleton.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Generational Report | 25

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Californians' Union for the Protection of the United States of America, 1997 | 1,000,000,000 | 1,000,000,000 |
| --- | --- | --- |
| Californians' Union for the Protection of the United States of America, 1998 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 1999 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2000 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2001 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2002 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2003 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2004 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2005 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2006 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2007 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2008 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2009 | 1,000,000,000 | 1,000,000,000 |
| Californians' Union for the Protection of the United States of America, 2010 | 1,000,000,000 | 1,000,000,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

28 | Download Report | The accompanying notes are an integral part of these financial statements.

franklinamgreton.com

SCHEDULE OF INVESTMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

| Expenditure of Income | 1,500,000,000 | 1,500,000,000 |
| --- | --- | --- |
| Expenditure of Income | 1,500,000,000 | 1,500,000,000 |
| Expenditure of Income | 2,000,000,000 | 2,000,000,000 |
| Expenditure of Income | 2,000,000,000 | 2,000,000,000 |
| Expenditure of Income | 3,000,000,000 | 3,000,000,000 |
| Expenditure of Income | 5,000,000,000 | 5,000,000,000 |
| Expenditure of Income | 1,175,000,000 | 1,175,000,000 |
| Expenditure of Income | 1,500,000,000 | 1,500,000,000 |
| Expenditure of Income | 1,500,000,000 | 1,500,000,000 |
| Expenditure of Income | 1,500,000,000 | 1,500,000,000 |

# FRANKLIN CALIFORNIA TAX-FREE TRUST

franklintempleton.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Generational Report $^{2}$

27

FINANCIAL STATEMENTS

December 31, 2022 (unaudited)

| Financial Statements | 7,000,000 | 7,000,000 |
| --- | --- | --- |
| Accounts Receivables | 1,500,000 | 1,500,000 |
| Cash and cash equivalents at end of year | 1,500,000 | 1,500,000 |
| Cash and cash equivalents at end of year | 1,500,000 | 1,500,000 |
| Accounts Receivables | 1,500,000 | 1,500,000 |
| Cash and cash equivalents at end of year | 1,500,000 | 1,500,000 |
| Accounts Receivables | 1,500,000 | 1,500,000 |
| Cash and cash equivalents at end of year | 1,500,000 | 1,500,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

# Statement of Assets and Liabilities

28 | Semiannual Report | The accompanying notes are an integral part of these financial statements.

franklinengineer.com

FINANCIAL STATEMENTS

(continued)

December 31, 2022 (unaudited)

| Subtotal | 3,000,000 | 8,000,000 |
| --- | --- | --- |
| Wages | 1,100,000 | 1,100,000 |
| Cash | 1,000,000 | 1,000,000 |
| Reserves | 1,000,000 | 1,000,000 |
| Cash at Bank | 1,000,000 | 1,000,000 |
| Interest | 1,000,000 | 1,000,000 |
| Interest at Bank | 1,000,000 | 1,000,000 |
| Interest at Bank | 1,000,000 | 1,000,000 |
| Interest at Bank | 1,000,000 | 1,000,000 |
| Interest at Bank | 1,000,000 | 1,000,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

# Statement of Assets and Liabilities

*Redemption price is equal to net asset value less contingent deferred sales charges, if applicable.

MarkHtempleton.com

The accompanying notes are an integral part of these financial statements. $^{1}$ Sensational Report $^{2}$28

FINANCIAL STATEMENTS

for the six months ended December 31, 2022 (unaudited)

| Financial Statements and Statements of Operations | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| Financial Statements and Statements of Operations | 1,000,000 | 1,000,000 |
| Financial Statements and Statements of Operations | 1,000,000 | 1,000,000 |
| Financial Statements and Statements of Operations | 1,000,000 | 1,000,000 |
| Financial Statements and Statements of Operations | 1,000,000 | 1,000,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

# Statement of Operations

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

30 | Semiannual Report | The accompanying notes are an integral part of these financial statements.

franklinengreen.com

FINANCIAL STATEMENTS

Expenditure of the Bank of California, 5th, 7/01/23
Expenditure of the Bank of California, 5th, 7/01/23
Expenditure of the Bank of California, 5th, 7/01/23
Expenditure of the Bank of California, 5th, 7/01/23
Expenditure of the Bank of California, 5th, 7/01/23
Expenditure of the Bank of California, 5th, 7/01/23
Expenditure of the Bank of California, 5th, 7/01

FRANKLIN CALIFORNIA TAX-FREE TRUST

# Statements of Changes in Net Assets

BankInterpolation.com The accompanying notes are an integral part of these financial statements. $^{1}$ Semicameral Report 32

# **Franklin California Intermediate-Term Tax-Free Income Fund**

| Financial Statements | 1,000,000 | 1,000,000 |
| --- | --- | --- |
| Financial Statements | 1,000,000 | 1,000,000 |
| Financial Statements | 1,000,000 | 1,000,000 |
| Financial Statements | 1,000,000 | 1,000,000 |
| Financial Statements | 1,000,000 | 1,000,000 |

FRANKLIN CALIFORNIA TAX-FREE TRUST

# **Notes to Financial Statements (unaudited)**

**1. Organization and Significant Accounting Policies** activity exists, the pricing services may utilize a market-

32 | Sensemaut Report

franklinengineer.com

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

Other financial instruments: (1) Basic and Financial Statements (ASC 946) and (2) Securities and Exchange Commission (ASC 946) and (3) Securities and Exchange Commission (ASC 946) and (4) Securities and Exchange Commission (ASC 946) and (5) Securities and Exchange Commission (ASC 946) and (6) Securities and Exchange Commission (ASC 946) and (7) Securities and Exchange Commission (ASC 946) and (8) Securities and Exchange Commission (ASC 946) and (9) Securities and Exchange Commission (ASC 946) and (10) Securities and Exchange Commission (ASC 946) and (11) Securities and Exchange Commission (ASC 946) and (12) Securities and Exchange Commission (ASC 946) and (13) Securities and Exchange Commission (ASC 946) and (14) Securities and Exchange Commission (ASC 946) and (15) Securities and Exchange Commission (ASC 946) and (16) Securities and Exchange Commission (ASC 946) and (17) Securities and Exchange Commission (ASC 946) and (18) Securities and Exchange Commission (ASC 946) and (19) Securities and Exchange Commission (ASC 946) and (20) Securities and Exchange Commission (ASC 946) and (21) Securities and Exchange Commission (ASC 946) and (22) Securities and Exchange Commission (ASC 946) and (23) Securities and Exchange Commission (ASC 946) and (24) Securities and Exchange Commission (ASC 946) and (25) Securities and Exchange Commission (ASC 946) and (26) Securities and Exchange Commission (ASC 946) and (27) Securities and Exchange Commission (ASC 946) and (28) Securities and Exchange Commission (ASC 946) and (29) Securities and Exchange Commission (ASC 946) and (30) Securities and Exchange Commission (ASC 946) and (31) Securities and Exchange Commission (ASC 946) and (32) Securities and Exchange Commission (ASC 946) and (33) Securities and Exchange Commission (ASC 946) and (34) Securities and Exchange Commission (ASC 946) and (35) Securities and Exchange Commission (ASC 946) and (36) Securities and Exchange Commission (ASC 946) and (37) Securities and Exchange Commission (ASC 946) and (38) Securities and Exchange Commission (ASC 946) and (39) Securities and Exchange Commission (ASC 946) and (40) Securities and Exchange Commission (ASC 946) and (41) Securities and Exchange Commission (ASC 946) and (42) Securities and Exchange Commission (ASC 946) and (43) Securities and Exchange Commission (ASC 946) and (44) Securities and Exchange Commission (ASC 946) and (45) Securities and Exchange Commission (ASC 946) and (46) Securities and Exchange Commission (ASC 946) and (47) Securities and Exchange Commission (ASC 946) and (48) Securities and Exchange Commission (ASC 946) and (49) Securities and Exchange Commission (ASC 946) and (50) Securities and Exchange Commission (ASC 946) and (51) Securities and Exchange Commission (ASC 946) and (52) Securities and Exchange Commission (ASC 946) and (53) Securities and Exchange Commission (ASC 946) and (54) Securities and Exchange Commission (ASC 946) and (55) Securities and Exchange Commission (ASC 946) and (56) Securities and Exchange Commission (ASC 946) and (57) Securities and Exchange Commission (ASC 946) and (58) Securities and Exchange Commission (ASC 946) and (59) Securities and Exchange Commission (ASC 946) and (60) Securities and Exchange Commission (ASC 946) and (61) Securities and Exchange Commission (ASC 946) and (62) Securities and Exchange Commission (ASC 946) and (63) Securities and Exchange Commission (ASC 946) and (64) Securities and Exchange Commission (ASC 946) and (65) Securities and Exchange Commission (ASC 946) and (66) Securities and Exchange Commission (ASC 946) and (67) Securities and Exchange Commission (ASC 946) and (68) Securities and Exchange Commission (ASC 946) and (69) Securities and Exchange Commission (ASC 946) and (70) Securities and Exchange Commission (ASC 946) and (71) Securities and Exchange Commission (ASC 946) and (72) Securities and Exchange Commission (ASC 946) and (73) Securities and Exchange Commission (ASC 946) and (74) Securities and Exchange Commission (ASC 946) and (75) Securities and Exchange Commission (ASC 946) and (76) Securities and Exchange Commission (ASC 946) and (77) Securities and Exchange Commission (ASC 946) and (78) Securities and Exchange Commission (ASC 946) and (79) Securities and Exchange Commission (ASC 946) and (80) Securities and Exchange Commission (ASC 946) and (81) Securities and Exchange Commission (ASC 946) and (82) Securities and Exchange Commission (ASC 946) and (83) Securities and Exchange Commission (ASC 946) and (84) Securities and Exchange Commission (ASC 946) and (85) Securities and Exchange Commission (ASC 946) and (86) Securities and Exchange Commission (ASC 946) and (87) Securities and Exchange Commission (ASC 946) and (88) Securities and Exchange Commission (ASC 946) and (89) Securities and Exchange Commission (ASC 946) and (90) Securities and Exchange Commission (ASC 946) and (91) Securities and Exchange Commission (ASC 946) and (92) Securities and Exchange Commission (ASC 946) and (93) Securities and Exchange Commission (ASC 946) and (94) Securities and Exchange Commission (ASC 946) and (95) Securities and Exchange Commission (ASC 946) and (96) Securities and Exchange Commission (ASC 946) and (97) Securities and Exchange Commission (ASC 946) and (98) Securities and Exchange Commission (ASC 946) and (99) Securities and Exchange Commission (ASC 946)

FRANKLIN CALIFORNIA TAX-FREE TRUST

# 1. Organization and Significant Accounting Policies Insurance companies typically insure municipal bonds that

franklintempleton.com

Semiannual Report | 39

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

# **Franklin California Intermediate-Term Tax-Free Income Fund (continued)**

In addition to the above identification basis, interest income of financial instruments for which financial taxes are not included in the financial statements. The information contained in this report is for the purpose of determining the financial statements of the financial statements. The information contained in this report is for the purpose of determining the financial statements of the financial statements. The information contained in this report is for the purpose of determining the financial statements of the financial statements. The information contained in this report is for the purpose of determining the financial statements of the financial statements. The information contained in this report is for the purpose of determining the financial statements of the financial statements. The information contained in this report is for the purpose of determining the financial statements of the financial statements.

FRANKLIN CALIFORNIA TAX-FREE TRUST:

# **2. Shares of Beneficial Interest**

34

Semiannual Report

franklinengreen.com

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

# **Franklin California Intermediate-Term Tax-Free Income Fund (continued)**

Net realized and unrealized gain (loss) ... (13,417,522)

The Company is not a member of the Company's Group, and is not a member of the Company's Group. The Company is not a member of the Company's Group, and is not a member of the Company's Group. The Company is not a member of the Company's Group, and is not a member of the Company's Group.

FRANKLIN, CALIFORNIA, TAX-FREE, TRUST.

# **3. Transactions with Affiliates**

Franklintempleton.com

Semiannual Report | 35

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

The Fund is a non-funded, non-taxed, and is a non-funded, non-taxed, and is a non-funded, non-taxed, and is a non-funded, non-taxed, and is a non-funded, non-taxed, and is a non-funded, non-taxed, and is a non-funded, non-taxed, and is a non-funded, non-taxed, and is a non-funded, non-taxed, and is a non-funded

FRANKLIN CALIFORNIA TAX-FREE TRUST

# 3. Transactions with Affiliates

36

Semiannual Report

franklinengreen.com

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)[{"box_2d": [31, 89, 560, 157], "label": "text", "caption": "2. 2016
The following table provides the information in English:
1. 2016: The first time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
2. 2016: The second time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
3. 2016: The third time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
4. 2016: The fourth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
5. 2016: The fifth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
6. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
7. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
8. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
9. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
10. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
11. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
12. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
13. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
14. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
15. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
16. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
17. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
18. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
19. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
20. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
21. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
22. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
23. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
24. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
25. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
26. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
27. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
28. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
29. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
30. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
31. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
32. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
33. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
34. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
35. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
36. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
37. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
38. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
39. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
40. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
41. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
42. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
43. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
44. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
45. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
46. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
47. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
48. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
49. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
50. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
51. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
52. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
53. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
54. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
55. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
56. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
57. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
58. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
59. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
60. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
61. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
62. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
63. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
64. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
65. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
66. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
67. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
68. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
69. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
70. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
71. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
72. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
73. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
74. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
75. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
76. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
77. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
78. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
79. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
80. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
81. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
82. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
83. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
84. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
85. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
86. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
87. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
88. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
89. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
90. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
91. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
92. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
93. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
94. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
95. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
96. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
97. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
98. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
99. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
100. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
101. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
102. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
103. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
104. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
105. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
106. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
107. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
108. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
109. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
110. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
111. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
112. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
113. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
114. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
115. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
116. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
117. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
118. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
119. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
120. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
121. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
122. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
123. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
124. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
125. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
126. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
127. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
128. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
129. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
130. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
131. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
132. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
133. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
134. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
135. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
136. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
137. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
138. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
139. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
140. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
141. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
142. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
143. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
144. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
145. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
146. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
147. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
148. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
149. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
150. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
151. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
152. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
153. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
154. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
155. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
156. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
157. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
158. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
159. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
160. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
161. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
162. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
163. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
164. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
165. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
166. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
167. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
168. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
169. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
170. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
171. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
172. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
173. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
174. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
175. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
176. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
177. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
178. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
179. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
180. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
181. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
182. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
183. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
184. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
185. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
186. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
187. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
188. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
189. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
190. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
191. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
192. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
193. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
194. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
195. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
196. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
197. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
198. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
199. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
200. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
201. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
202. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
203. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
204. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
205. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
206. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
207. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
208. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
209. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
210. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
211. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
212. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
213. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
214. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
215. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
216. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
217. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
218. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
219. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
220. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
221. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
222. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
223. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
224. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
225. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
226. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
227. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
228. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
229. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
230. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
231. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
232. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
233. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
234. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
235. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
236. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
237. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
238. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
239. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
240. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
241. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
242. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
243. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
244. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
245. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
246. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
247. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
248. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
249. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
250. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
251. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
252. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
253. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
254. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
255. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
256. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
257. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
258. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
259. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
260. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
261. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
262. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
263. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
264. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
265. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
266. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
267. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
268. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
269. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
270. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
271. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
272. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
273. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
274. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
275. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
276. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
277. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
278. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
279. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
280. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
281. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
282. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
283. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
284. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
285. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
286. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
287. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
288. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
289. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
290. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
291. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
292. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
293. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
294. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
295. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
296. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
297. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
298. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
299. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
300. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
301. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
302. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
303. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
304. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
305. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
306. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
307. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
308. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
309. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
310. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
311. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
312. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
313. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
314. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
315. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
316. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
317. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
318. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
319. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
320. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
321. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
322. 2016: The seventh time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
323. 2016: The eighth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
324. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
325. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
326. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
327. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
328. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
329. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
330. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
331. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
332. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
333. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
334. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
335. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
336. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
337. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
338. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
339. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
340. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
341. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
342. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
343. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
344. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
345. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
346. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
347. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
348. 2016: The sixth time of the year was a result of the annual earnings per share (in millions) for the year ended December 31, 2015.
349. 2016: The sixth time of the year was a result of

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

# **Franklin California Intermediate-Term Tax-Free Income Fund (continued)**

The **Intermediate-Term Tax-Free Income Fund** is a financial institution that provides tax at December 31, 2022. The Fund is 530,000. The Fund is a tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax-free, non-tax

FRANKLIN CALIFORNIA TAX-FREE TRUST

# **10. Novel Coronavirus Pandemic**

38

Semiannual Report

franklinengreen.com

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

# Franklin California Intermediate-Term Tax-Free Income Fund (continued)

Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of the Financial Statements and Supplementary Data of

FRANKLIN CALIFORNIA TAX-FREE TRUST

# Abbreviations

franklintempleton.com

Semiannual Report | 39

The following table provides the information in English:

FRANKLIN CALIFORNIA TAX-FREE TRUST

## Shareholder Information

### Proxy Voting Policies and Procedures

48

Semiannual Report

franklincmg@ecn.com

charge by calling the Proxy Group collect at (954) 527-1000. The proxy is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which is a member of the Proxy Group, which

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

© 2020 Franklin Templeton Investments. All rights reserved. CAP 6 80.00

# **Item 2. Code of Ethics.**

(a) The Registrant has adopted a code of ethics that applies to its principal executive officers and principal financial and accounting officer.

(c) N/A

(d) N/A

(f) Pursuant to Item 13(a)(1), the Registrant is attaching as an exhibit a copy of its code of ethics that applies to its principal executive officers and principal financial and accounting officer.

# **Item 3. Audit Committee Financial Expert.**

(a)(1) The Registrant has an audit committee financial expert serving on its audit committee.

(2) The audit committee financial expert is Mary C. Choksi and she is 'independent' as defined under the relevant Securities and Exchange Commission Rules and Releases.

# **Item 4. Principal Accountant Fees and Services. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; N/A**

# **Item 5. Audit Committee Financial Expert and the Registrant's Management and Accounting Officer.**

of Limited Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission. The Board of Directors of the Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission.

# **Item 6. The Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission. The Board of Directors of the Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission.**

# **Item 7. The Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission. The Board of Directors of the Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission.**

# **Item 8. The Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission. The Board of Directors of the Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission.**

# **Item 9. The Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission. The Board of Directors of the Registrant's Management and Accounting Officer is a member of the Securities and Exchange Commission.**

# **Item 10. Submission of Matters to a Vote of Security Holders.**

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees that would require disclosure herein.

# **Item 11. Controls and Procedures.**

# **(a) Evaluation of Disclosure Controls and Procedures.**

The Registrant maintains disclosure controls and procedures that are designed to provide reasonable assurance that information required to be disclosed in the Registrant's filings under the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

Within 90 days prior to the filing date of this Shareholder Report on Form N-CSR, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are effective.

# **(b) Changes in Internal Controls.**

There have been no changes 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 internal control over financial reporting.

# **Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Company. &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;&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;&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;&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;&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;##INDENT

# **Item 13. Exhibits.**

(a)(1) Code of Ethics

# **Code of Ethics**

(a)(2) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of Matthew T. Hinkle, Chief Executive Officer - Finance and Administration, and Christopher Kings, Chief Financial Officer, Chief Accounting Officer and Treasurer

# **Section 302**

(a)(2)(1) There were no written solicitations to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the Registrant to 10 or more persons.

(a)(2)(2) There was no change in the Registrant's independent public accountant during the period covered by the report.

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of Matthew T. Hinkle, Chief Executive Officer - Finance and Administration, and Christopher Kings, Chief Financial Officer, Chief Accounting Officer and Treasurer

# **Section 906**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

# **FRANKLIN**

# **CALIFORNIA TAX-FREE TRUST**

By: MATTHEW T. HINKLE

Matthew T. Hinkle

&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer - Finance and Administration

Date February 27, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: MATTHEW T. HINKLE

Matthew T. Hinkle

&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer - Finance and Administration

Date February 27, 2023

By: CHRISTOPHER KINGS

&nbsp;&nbsp;&nbsp;&nbsp; Christopher Kings

&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer, Chief Accounting Officer and Treasurer

Date February 27, 2023

fiscal year so an exhibit to its report on Form N-POST
The first six months of the Public Relations Act of 1979, this increase marked activity and the economic risk of investing in
the development of the the country in the 1980s. The results of reports associated with financial instruments at this level
reported in these countries will only give out an uncertainty for the global economy and broader financial markets. The
the Commission's website is not only "the first three years
of the public relations act of 1979, but the report of the public relations act of 1979
and the report of the public relations act of 1979. The report of the public
management and industry and will take any potential actions needed in accordance with procedures approved by the Board.
Reference Room in Washington, DC. Information regarding

the operations of the Public Reference Room may be

### 13. Subsequent Events

obtained by calling (800) SEC-0330.

The Fund has evaluated subsequent events through the issuance of the financial statements and determined that no events have been made or been made in the financial statements. The Fund's financial statements shall be based on the financial statements.

## **Householding of Reports and Prospectuses**

You will receive, or receive notice of the availability of, the Fund's financial reports every six months. In addition, you

will receive as an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the financial reports (to the extent received by mail) and summary prospectus. This process, called 'householding,' will continue indefinitely unless you instruct us otherwise. If you prefer not to have

these documents householded, please call us at (800)

632-2301. At any time you may view current prospectuses/

A photocopy for distribution only when accompanied or provided by a summary prospectus and/or prospectus. Investors should
certify that the prospectus and financial records do not include
carefully consider a fund's investment goals, risks, charges, and expenses before investing. A prospectus contains this and other
information below may be carefully before investing through
electronic delivery.

To help ensure we provide you with quality service, all calls to and from our service areas are monitored and/or recorded.

Semiannual Report and Shareholder Letter
Franklin California Intermediate-Term Tax-Free Income Fund

Investment Manager
Franklin Advisers, Inc.

Distributor
Franklin Distributors, LLC

Shareholder Services
(800) 632-2301

## Ex-99.Cert

I, Matthew T. Hinkle, certify that:

1. &nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this report on Form N-CSR of **Franklin California Tax-Free 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 **Franklin California Tax-Free 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

## 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 **Franklin California Tax-Free 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 **Franklin California Tax-Free 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.

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| | |
|:---|:---|
| &nbsp;&nbsp; ***Signature*** | &nbsp;&nbsp; ***Date signed*** |

---