<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.

Other Allocation

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)SGD-H1

Franklin Income A(Mdis)USD

FixedIncome

Equity

Other

CashEquivalents

United States

Canada

Switzerland

France

Japan

United Kingdom

Other countries

Unclassified

Bond - Corporate Bond

Bond - Gov't/Treasury

Bond - Undefined

Healthcare

Energy

Utilities

Bond - Gov't Agency Debt

Industrials

Consumer Defensive

Bond - Gov't Agency Pass-Thru

Financial Services

Technology

Basic Materials

Consumer Cyclical

Communication Services

Bond - Asset Backed

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

Federal Home Loan Banks 0% (2024-08-01 Maturity)

Johnson & Johnson

Chevron Corp

Exxon Mobil Corp

United States Treasury Bonds 4.125% (2053-08-15 Maturity)

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

Roche Holding AG ADR

United States Treasury Notes 5% (2025-10-31 Maturity)

Citigroup Global Mkts Hldgs In Pfd 0% (2025-08-20 Maturity)