<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

France

Japan

Switzerland

Canada

Germany

United Kingdom

Curaçao

Other countries

Unclassified

Bond - Corporate Bond

Financial Services

Bond - Gov't/Treasury

Bond - Undefined

Utilities

Healthcare

Energy

Consumer Defensive

Bond - Gov't Agency Debt

Industrials

Basic Materials

Technology

Communication Services

Consumer Cyclical

Bond - Asset Backed

Bond - Gov't Agency Pass-Thru

Bond - Treasury Future

Federal Home Loan Banks 0% (2023-11-01 Maturity)

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

Community Health Systems Incorporated 8% (2026-03-15 Maturity)

Chevron Corp

United States Treasury Bonds 4% (2042-11-15 Maturity)

United States Treasury Bonds 3.625% (2053-05-15 Maturity)

Avgo 10% Eln Issued By Royal Bank Of Canada 10% Eln 01/11/2024 Eln (2024-01-11 Maturity)

Exxon Mobil Corp

Coca-Cola Co

United Parcel Service Inc Class B