# EDGAR Filing Document

**Accession Number:** 0000833040
**File Stem:** 0000833040-26-000002
**Filing Date:** 2026-3
**Character Count:** 36915
**Document Hash:** 264ab469e554274e73ca5999a834a910
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000833040-26-000002.hdr.sgml**: 20260325

**ACCESSION NUMBER**: 0000833040-26-000002

**CONFORMED SUBMISSION TYPE**: 40-17F2

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260325

**DATE AS OF CHANGE**: 20260325

**EFFECTIVENESS DATE**: 20260325

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN UNIVERSAL TRUST
- **CENTRAL INDEX KEY:** 0000833040

**ORGANIZATION NAME:**
- **EIN:** 943077602
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 40-17F2
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05569
- **FILM NUMBER:** 26790153

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN UNIVERSAL TRUST
- **CENTRAL INDEX KEY:** 0000833040

**ORGANIZATION NAME:**
- **EIN:** 943077602
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 40-17F2

**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

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-17F-2

CERTIFICATE OF ACCOUNTING OF SECURITIES AND SIMILAR

INVESTMENTS IN THE CUSTODY OF

MANAGEMENT INVESTMENT COMPANIES

PURSUANT TO RULE N-17F-2 [17 CFR 270.17f-2]

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| 1. Investment Company Act File Number: | 1. Investment Company Act File Number: | 1. Investment Company Act File Number: | 1. Investment Company Act File Number: | Date Examination completed: | Date Examination completed: | Date Examination completed: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-05569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-05569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-05569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-05569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 16, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 16, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March 16, 2026 |
| 2. State Identification Number: | 2. State Identification Number: | 2. State Identification Number: | 2. State Identification Number: |  |  |  |
| AL | AK | AZ | AR | AR | CA  | CO |
| CT | DE  | DC | FL | FL | GA | HI |
| ID | IL | IN | IA | IA | KS | KY |
| LA | ME | MD | MA | MA | MI | MN |
| MS | MO | MT | NE | NE | NV  | NH |
| NJ | NM | NY | NC | NC | ND  | OH |
| OK | OR | PA | RI | RI | SC  | SD |
| TN | TX  | UT | VT | VT | VA | WA |
| WV | WI | WY | PUERTO RICO | PUERTO RICO |  |  |
| 3. Exact name of investment company as specified in registration statement: | 3. Exact name of investment company as specified in registration statement: | 3. Exact name of investment company as specified in registration statement: | 3. Exact name of investment company as specified in registration statement: | 3. Exact name of investment company as specified in registration statement: | 3. Exact name of investment company as specified in registration statement: | 3. Exact name of investment company as specified in registration statement: |
| Franklin Universal Trust | Franklin Universal Trust | Franklin Universal Trust | Franklin Universal Trust | Franklin Universal Trust | Franklin Universal Trust | Franklin Universal Trust |
| 4. Address of principal executive office: (number, street, city, state, zip code) | 4. Address of principal executive office: (number, street, city, state, zip code) | 4. Address of principal executive office: (number, street, city, state, zip code) | 4. Address of principal executive office: (number, street, city, state, zip code) | 4. Address of principal executive office: (number, street, city, state, zip code) | 4. Address of principal executive office: (number, street, city, state, zip code) | 4. Address of principal executive office: (number, street, city, state, zip code) |

---

One Franklin Parkway, San Mateo, CA 94403

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[PWC Logo]

#### Report of Independent Accountants
To the Boards of Trustees and Management of:

Franklin Custodian Funds <br>Franklin ETF Trust<br>Franklin Fund Allocator Series <br>Franklin Global Trust<br>Franklin Gold and Precious Metals Fund <br>Franklin High Income Trust<br>Franklin Investors Securities Trust <br>Franklin Limited Duration Income Trust <br>Franklin Managed Trust<br>Franklin Real Estate Securities Trust <br>Franklin Strategic Series<br>Franklin Templeton ETF Trust<br>Franklin Templeton Variable Insurance Products Trust<br>Franklin U.S. Government Money Fund <br>Franklin Universal Trust<br>Institutional Fiduciary Trust<br>Templeton Developing Markets Trust <br>Templeton Emerging Markets Fund<br>Templeton Emerging Markets Income Fund <br>Templeton Global Investment Trust <br>Templeton Income Trust <br>Templeton Institutional Funds

And the Boards of Directors and Management of: <br>Templeton Dragon Fund, Inc.

We have examined management's assertion, included in the accompanying Management Statement Regarding Compliance with Certain Provisions of the Investment Company Act of 1940, that the Funds listed in Attachment A (the "Funds") complied with the requirements of subsections (b) and (c) of Rule 17f-2 under the Investment Company Act of 1940 ("the Act") (the "specified requirements") as of July 31, 2025. The Funds' management is responsible for its assertion and the Funds' compliance with the specified requirements. Our responsibility is to express an opinion on management's assertion about the Funds' compliance with the specified requirements based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. Those standards require that we plan and perform the examination to obtain reasonable assurance about whether management's assertion about compliance with the specified requirements is fairly stated, in all material respects. An examination involves performing procedures to obtain evidence about whether management's assertion is fairly stated in all material respects. The nature, timing and extent of the procedures selected depend on our judgment, including an assessment of the risks of material misstatement of management's assertion, whether due to fraud or error. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP, 405 Howard Street, Suite 600, San Francisco, CA 94105 T: (415) 498 5000, www.pwc.com/us

------

[PWC Logo]

Included among our procedures were the following tests performed as of July 31, 2025, and with respect to agreement of security purchases and sales or maturities, for the periods as indicated in Attachment A:

- Confirmation of all securities held by Franklin Templeton Investors Services, Inc. (the "Transfer Agent"), as they pertain to the security positions owned by the Funds and held in book entry form

- Reconciliation of all such securities to the books and records of the Funds and the Transfer Agent

- Agreement of 309 security purchases and 336 security sales or maturities since our last report from the books and records of the Funds to the records of the Transfer Agent confirmations

Our examination does not provide a legal determination on the Funds' compliance with the specified requirements.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements related to the engagement.

In our opinion, management's assertion that the Funds complied with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of July 31, 2025 with respect to securities reflected in the investment accounts of the Funds are fairly stated, in all material respects.

This report is intended solely for the information and use of management and the Boards of Trustees or Boards of Directors of the Funds and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/PRICEWATERHOUSECOOPERS, LLP

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; March 16, 2026

------

#### Attachment A

---

| | |
|:---|:---|
| **Franklin Custodian Funds:** | **Franklin Custodian Funds:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin DynaTech Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin Growth Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin U.S. Government Securities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Utilities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin ETF Trust:** | **Franklin ETF Trust:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Short Duration U.S. Government ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Fund Allocator Series:** | **Franklin Fund Allocator Series:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Conservative Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin Corefolio Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Emerging Market Core Equity (IU) Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin International Core Equity (IU) Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart Retirement Income Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2020 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2025 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2030 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2035 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2040 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2045 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2050 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2055 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2060 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Moderate Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Core Equity (IU) Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Global Trust:** | **Franklin Global Trust:** |
|  | Franklin Emerging Market Debt Opportunities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin International Growth Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Gold and Precious Metals Fund** | **Franklin Gold and Precious Metals Fund**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin High Income Trust:** | **Franklin High Income Trust:** |
|  | Franklin High Income Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Investors Securities Trust:**  | **Franklin Investors Securities Trust:**  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Convertible Securities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Equity Income Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | ***Franklin Floating Rate Daily Access Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | ***Franklin Long Duration Credit Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Low Duration Total Return Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin Low Duration U.S. Government Securities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Managed Income Fund <br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Total Return Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Limited Duration Income Trust** | **Franklin Limited Duration Income Trust**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Managed Trust:** | **Franklin Managed Trust:** |
|  | Franklin Rising Dividends Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Real Estate Securities Trust:** | **Franklin Real Estate Securities Trust:** |

---

------

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Real Estate Securities Fund |
| **Franklin Strategic Series:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Biotechnology Discovery Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;Franklin Growth Opportunities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Natural Resources Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Growth Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small-Mid Cap Growth Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin Core Plus Bond Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series C<br> June 20, 2025 (commencement <br>of operations) - July 31, 2025 <sup>b</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series CP<br> June 20, 2025 (commencement <br>of operations) - July 31, 2025 <sup>b</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series E <br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series I<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Templeton ETF Trust:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Emerging Market Core Dividend Tilt Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Exponential Data ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Focused Growth ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Asia ex Japan ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Australia ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Brazil ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Canada ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE China ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Europe ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Eurozone ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Germany ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE India ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Japan ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Japan Hedged ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Latin America ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Mexico ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Saudi Arabia ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE South Korea ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Switzerland ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Taiwan ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE United Kingdom ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income Focus ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin International Core Dividend Tilt Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin International Dividend Booster Index ETF (formerly, Franklin International Dividend Multiplier Index ETF)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Ultra Short Bond ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Core Bond ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Core Dividend Tilt Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Dividend Booster Index ETF (formerly, Franklin U.S. Dividend Multiplier Index ETF)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Equity Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Large Cap Multifactor Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Mid Cap Multifactor Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Small Cap Multifactor Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Treasury Bond ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Templeton Variable Insurance Products Trust:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Allocation VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin DynaTech VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;Franklin Income VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |

---

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;Franklin Mutual Global Discovery VIP Fund |
|  | &nbsp;&nbsp;Franklin Mutual Shares VIP Fund |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Rising Dividends VIP Fund |
|  | ***Franklin Small Cap Value VIP Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small-Mid Cap Growth VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | ***Franklin Strategic Income VIP Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | ***&nbsp;&nbsp;&nbsp;&nbsp;Franklin VolSmart Allocation VIP Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Developing Markets VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;Templeton Global Bond VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin U.S. Government Money Fund** | **Franklin U.S. Government Money Fund**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Universal Trust** | **Franklin Universal Trust**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Institutional Fiduciary Trust:** | **Institutional Fiduciary Trust:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Institutional U.S. Government Money Market Fund (formerly, Money Market Portfolio)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Developing Markets Trust** | **Templeton Developing Markets Trust**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Emerging Markets Fund** | **Templeton Emerging Markets Fund**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Emerging Markets Income Fund** | **Templeton Emerging Markets Income Fund**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Global Investment Trust:** | **Templeton Global Investment Trust:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series EM<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Emerging Markets Small Cap Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;Templeton Global Dynamic Income Fund (formerly, Templeton Global Balanced Fund)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Income Trust:** | **Templeton Income Trust:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond Enhanced Fund (formerly, Templeton Global Total Return Fund)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton International Bond Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Sustainable Emerging Markets Bond Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Institutional Funds:** | **Templeton Institutional Funds:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;International Equity Series<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Dragon Fund, Inc.** | **Templeton Dragon Fund, Inc.**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |

---

#### Legend:
a: April 30, 2025 represents the date of our last examination.

b: Fund was not in scope for the April 30, 2025 examination.

------

**Franklin Templeton Services, LLC**

3355 Data Drive

Rancho Cordova, CA 95670

**tel** (800) 632.2350

franklintempleton.com

<br>**Management Statement Regarding Compliance with Certain**

#### Provisions of the Investment Company Act of 1940
We, as members of management of the Funds listed in Attachment A (the "Funds"), are responsible for complying with the requirements of subsections (b) and (c) of Rule 17f-2, Custody of Investments by Registered Management Investment Companies, of the Investment Company Act of 1940. We are also responsible for establishing and maintaining effective internal controls over compliance with those requirements. We have performed an evaluation of the Funds' compliance with the requirements of subsections (b) and (c) of Rule 17f-2 as of July 31, 2025, and for the periods indicated in Attachment A.

Based on this evaluation, we assert that the Funds were in compliance with the requirements of subsections (b) and (c) of Rule 17f-2 of the Investment Company Act of 1940 as of July 31, 2025, and for the periods indicated in Attachment A, with respect to securities reflected in the investment account of the Funds.

By:

<u>/s/CHRISTOPHER KINGS</u><br>**Christopher Kings**

*Chief Executive Officer - Finance and Administration*<br>*Franklin Templeton Group of Funds*<br>Date March 16, 2026*

<u>/s/JEFFREY W. WHITE</u><br>**Jeffrey W. White**

*Chief Financial Officer, Chief Accounting Officer and Treasurer*<br>*Franklin & Templeton Funds Boards*<br>Date March 16, 2026*

<u>/s/VIVEK PAI</u><br>**Vivek Pai**

*Chief Financial Officer, Chief Accounting Officer and Treasurer*<br>*Franklin Templeton ETF Trust*<br>*Franklin ETF Trust*<br>Date March 16, 2026*

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#### Attachment A

---

| | |
|:---|:---|
| **Franklin Custodian Funds:** | **Franklin Custodian Funds:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin DynaTech Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin Growth Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin U.S. Government Securities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Utilities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin ETF Trust:** | **Franklin ETF Trust:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Short Duration U.S. Government ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Fund Allocator Series:** | **Franklin Fund Allocator Series:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Conservative Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin Corefolio Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Emerging Market Core Equity (IU) Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Growth Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin International Core Equity (IU) Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart Retirement Income Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2020 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2025 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2030 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2035 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2040 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2045 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2050 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2055 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin LifeSmart 2060 Retirement Target Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Moderate Allocation Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Core Equity (IU) Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Global Trust:** | **Franklin Global Trust:** |
|  | Franklin Emerging Market Debt Opportunities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin International Growth Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Gold and Precious Metals Fund** | **Franklin Gold and Precious Metals Fund**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin High Income Trust:** | **Franklin High Income Trust:** |
|  | Franklin High Income Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Investors Securities Trust:**  | **Franklin Investors Securities Trust:**  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Convertible Securities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Equity Income Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | ***Franklin Floating Rate Daily Access Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | ***Franklin Long Duration Credit Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Low Duration Total Return Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | Franklin Low Duration U.S. Government Securities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Managed Income Fund <br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Total Return Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Limited Duration Income Trust** | **Franklin Limited Duration Income Trust**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Managed Trust:** | **Franklin Managed Trust:** |
|  | Franklin Rising Dividends Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Real Estate Securities Trust:** | **Franklin Real Estate Securities Trust:** |

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Real Estate Securities Fund |
| **Franklin Strategic Series:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Biotechnology Discovery Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;Franklin Growth Opportunities Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Natural Resources Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Growth Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small-Mid Cap Growth Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin Core Plus Bond Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series C<br> June 20, 2025 (commencement <br>of operations) - July 31, 2025 <sup>b</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series CP<br> June 20, 2025 (commencement <br>of operations) - July 31, 2025 <sup>b</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series E <br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series I<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Templeton ETF Trust:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Emerging Market Core Dividend Tilt Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Exponential Data ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Focused Growth ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Asia ex Japan ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Australia ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Brazil ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Canada ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE China ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Europe ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Eurozone ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Germany ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE India ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Japan ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Japan Hedged ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Latin America ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Mexico ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE Saudi Arabia ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE South Korea ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Switzerland ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin FTSE Taiwan ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| Franklin FTSE United Kingdom ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Income Focus ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin International Core Dividend Tilt Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin International Dividend Booster Index ETF (formerly, Franklin International Dividend Multiplier Index ETF)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Ultra Short Bond ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Core Bond ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Core Dividend Tilt Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Dividend Booster Index ETF (formerly, Franklin U.S. Dividend Multiplier Index ETF)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Equity Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Large Cap Multifactor Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Mid Cap Multifactor Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Small Cap Multifactor Index ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Treasury Bond ETF<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Templeton Variable Insurance Products Trust:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Allocation VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin DynaTech VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| &nbsp;&nbsp;Franklin Income VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |

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| | |
|:---|:---|
|  | &nbsp;&nbsp;Franklin Mutual Global Discovery VIP Fund |
|  | &nbsp;&nbsp;Franklin Mutual Shares VIP Fund |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Rising Dividends VIP Fund |
|  | ***Franklin Small Cap Value VIP Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small-Mid Cap Growth VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | ***Franklin Strategic Income VIP Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | ***&nbsp;&nbsp;&nbsp;&nbsp;Franklin VolSmart Allocation VIP Fund***<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Developing Markets VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Foreign VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;Templeton Global Bond VIP Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin U.S. Government Money Fund** | **Franklin U.S. Government Money Fund**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Franklin Universal Trust** | **Franklin Universal Trust**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Institutional Fiduciary Trust:** | **Institutional Fiduciary Trust:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Institutional U.S. Government Money Market Fund (formerly, Money Market Portfolio)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Developing Markets Trust** | **Templeton Developing Markets Trust**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Emerging Markets Fund** | **Templeton Emerging Markets Fund**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Emerging Markets Income Fund** | **Templeton Emerging Markets Income Fund**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Global Investment Trust:** | **Templeton Global Investment Trust:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Franklin Templeton SMACS: Series EM<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Emerging Markets Small Cap Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;Templeton Global Dynamic Income Fund (formerly, Templeton Global Balanced Fund)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Income Trust:** | **Templeton Income Trust:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond Enhanced Fund (formerly, Templeton Global Total Return Fund)<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton International Bond Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Templeton Sustainable Emerging Markets Bond Fund<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Institutional Funds:** | **Templeton Institutional Funds:** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;International Equity Series<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |
| **Templeton Dragon Fund, Inc.** | **Templeton Dragon Fund, Inc.**<br> May 1, 2025 - July 31, 2025 <sup>a</sup> |

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#### Legend:
a: April 30, 2025 represents the date of our last examination.

b: Fund was not in scope for the April 30, 2025 examination.

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