Franklin Resources Inc.

Franklin Resources, Inc. ( Franklin ) is a holding company with subsidiaries operating under our Franklin Templeton and/or subsidiary brand names. Franklin’s common stock is traded on the New York Stock Exchange (the NYSE ) under the ticker symbol BEN and is included in the Standard & Poor’s 500 Index. In this Annual Report, Franklin and its subsidiaries are collectively referred to as the Company, and words such as we, us, our and similar terms refer to the Company. We have one operating segment, investment management and related services. We offer our services and products under our various distinct brand names, including, but not limited to, Alcentra , Apera , Benefit Street Partners , Brandywine Global Investment Management , Canvas , Clarion Partners , ClearBridge Investments , Fiduciary Trust International , Franklin , Franklin Mutual Series , K2 , Legg Mason , Lexington Partners , O’Shaughnessy , Putnam , Royce , Templeton and Western Asset Management Company . Unless otherwise indicated, our funds means the funds offered under our various brand names, which may include co-branded funds. 3 Table of Contents We are a global investment management organization with over $1.6 trillion in assets under management ( AUM ) as of September 30, 2025. Our mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through our specialist investment managers, we offer specialization on a global scale, bringing extensive capabilities in equity, fixed income, alternatives and multi-asset solutions.