<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

2023

2022

2021

2020

2019

Equity

FixedIncome

United States

Unclassified

Bond - Gov't/Treasury

Energy

Consumer Defensive

Bond - Gov't Agency Debt

Healthcare

Bond - Gov't Agency Pass-Thru

Industrials

United States Treasury Notes

Federal Home Loan Banks

Chevron Corp

Johnson & Johnson

Exxon Mobil Corp

PepsiCo Inc

Procter & Gamble Co

Federal Home Loan Mortgage Corp.

Lockheed Martin Corp