<p><span style="font-size: 8pt;font-family: Arial;">The Fund aims to earn income and, secondarily, to increase the value of its investments over the medium to long term.</span>&nbsp;</p>


Franklin Templeton International Services S.à r.l.

Franklin Advisers, Inc.

USD Moderate Allocation

Morningstar EAA USD Mod Tgt Alloc NR USD

Allocation

MSCI USA High Dividend Yield NR USD

Bloomberg High Yield Very Liquid TR USD

Bloomberg US Agg Bond TR USD

Franklin Income A(Mdis)USD

2024

2023

2022

2021

2020

FixedIncome

Equity

Other

United States

Canada

France

United Kingdom

Japan

Switzerland

Netherlands

Germany

Other countries

Unclassified

Bond - Corporate Bond

Bond - Gov't/Treasury

Bond - Gov't Agency Pass-Thru

Healthcare

Consumer Defensive

Energy

Bond - Gov't Agency Debt

Utilities

Industrials

Basic Materials

Technology

Communication Services

Financial Services

Bond - Undefined

Consumer Cyclical

Bond - Asset Backed

Federal Home Loan Banks 0% (2025-06-02 Maturity)

United States Treasury Notes 4.5% (2033-11-15 Maturity)

Exxon Mobil Corp

PepsiCo Inc

Procter & Gamble Co

Chevron Corp

Johnson & Johnson

Community Health Systems Incorporated 10.875% (2032-01-15 Maturity)

Merck & Co Inc

Federal Home Loan Mortgage Corp. 5% (2054-11-01 Maturity)