Templeton Global Smaller Companies Fund - Series F Templeton Global Equity Group  Data as of December 31, 2017 Templeton Global Smaller Companies Fund - Series F For Dealer Use Only | Not for Distribution to the Public

Table of Contents Templeton Global Smaller Companies Fund   Table of Contents Investment Capabilities Overview ............................................................................................ 3 Performance Risk Statistics .................................................................................................. 26 Franklin Templeton Investments—A Trusted, Long-Term Partner in Investment  Management ....................... 4 Templeton Global Equity Group—Focus on Core Competencies ............................................ 27 We Consider Sustainability in All That We Do ......................................................................... 5 Management Profiles ....................................................................................... 28 Templeton—Global Presence .................................................................................................. 6 Management Profile .............................................................................................................. 29 Templeton Global Equity Group—Focus on Core Competencies .............................................. 7 Important Information ...................................................................................... 31 Templeton Global Equity Group—Value Investors Focused on Seeking Long-Term  Capital Growth for Our Clients ................. 8 Glossary ............................................................................................................................... 32 The Templeton Investment Philosophy .................................................................................... 9 Important Disclosures ........................................................................................................... 33 Experienced Team of Global Analysts .................................................................................... 10 Bottom-Up Stock Pickers: Global Focus Uncovers the Best Opportunities Across  Sectors and Geographies .................. 11 Templeton’s Valuation-Driven Investment Process ..................................... 12 Templeton’s Valuation-Driven Investment Process ................................................................. 13 Performance and Characteristics ................................................................... 18 Summary .............................................................................................................................. 19 Sector Allocation ................................................................................................................... 20 Geographic Allocation ........................................................................................................... 21 Top Ten Holdings .................................................................................................................. 22 Portfolio Characteristics ........................................................................................................ 23 Performance Statistics .......................................................................................................... 24 Calendar Year Returns ......................................................................................................... 25 2 For Dealer Use Only | Not for Distribution to the Public

FRANKLIN TEMPLETON INVESTMENTS Templeton Global Smaller Companies Fund   Investment Capabilities Overview FRANKLIN TEMPLETON INVESTMENTS Total Combined Assets Under Management: CAD$947.6 Billion Institutional AUM: CAD$227.9 Billion Single Business Development, Relationship Management, and Consultant Relations Platform Equity    Fixed Income  Multi-Asset Solutions Alternatives AUM CAD$411.9 Billion CAD$363.3 Billion CAD$163.4 Billion CAD$19.3 Billion CAPABILITIES Value Deep Value Core Value Blend Growth At a Reasonable Price (GARP) Growth ActiveQuant Convertibles Sector Shariah Smart Beta Government Municipals Corporate Credit Bank Loans Securitized Multi-Sector Currencies Sukuk Income Real Return Balanced/Hybrid Total Return Target Date/Risk Target Return Absolute Return Tactical Asset Allocation Managed Volatility Commodities Infrastructure Real Estate Hedge Funds Private Equity INVESTMENT TEAMS Templeton Global Equity Group (1940) Franklin Equity Group (1947) Franklin Mutual Series (1949) Franklin Templeton Emerging Markets Equity (1987) Franklin Bissett Investment Management (1982) Franklin Templeton Fixed Income Group (1970) Templeton Global Macro (1986) Franklin LAM-Fixed Income (1993) Franklin Templeton Multi-Asset Solutions (1996) Franklin Templeton Alpha Parity (2012) Franklin Real Asset Advisors (1984) Darby Overseas Investments (1994) K2 Advisors (1994) Pelagos Capital Management (2005) Source: Franklin Templeton Investments (FTI), as of December 31, 2017, based on latest available data. Total combined Assets Under Management (Total AUM) combines U.S. and non-U.S. AUM of the investment management subsidiaries of the parent company, Franklin Resources, Inc. (FRI) [NYSE: BEN], a global investment management organisation operating as FTI. Only selected business entities within FTI claim compliance with the GIPS standards as described in the table of contents if applicable. Total and platform AUM includes discretionary and non-discretionary accounts, including pooled investment vehicles, separate accounts and other vehicles. Total and platform AUM may also include advisory accounts with or without trading authority. In addition, assets for which certain FTI advisers provide limited asset allocation advisory services, and assets that are not allocated to FTI products are not included in the AUM figures shown. Franklin Templeton Multi-Asset Solutions may invest in various investment platforms advised by a number of investment advisory entities within FTI. Platform AUM reported for FT Multi-Asset Solutions therefore may include certain AUM separately reported under each utilised investment platform. Total AUM also includes assets managed by certain FTI advisers that do not form part of the selected investment platforms shown. As a result, the combined platform AUMs may not equal Total AUM and may be calculated and reported separately for regulatory or other purposes under each investment adviser. Each local asset manager may be considered as an entity affiliated with or associated to FTI by virtue of being a direct or indirect wholly-owned subsidiary of FRI, an entity or joint venture in which FRI owns a partial interest, which may be a minority interest, or a third party asset management company to which investment advisory services have been delegated by an FTI adviser. Franklin Local Asset Management (LAM) includes Franklin Bissett Investment Management, which is part of Franklin Templeton Investments Corp. In Canada, the advisor to the Franklin Templeton Multi-Asset Solutions mandates is Fiduciary Trust Company of Canada, a wholly owned subsidiary of Franklin Templeton Investments Corp. Franklin Templeton Multi-Asset Solutions is a business name used by Fiduciary Trust Company of Canada. 3 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Smaller Companies Fund   Franklin Templeton Investments—A Trusted, Long-Term Partner in Investment Management 4 For Dealer Use Only | Not for Distribution to the Public

We Consider Sustainability in All That We Do Templeton Global Smaller Companies Fund   We Consider Sustainability in All That We Do 5 For Dealer Use Only | Not for Distribution to the Public

Templeton—Global Presence Templeton Global Smaller Companies Fund   Templeton—Global Presence As of December 31, 2017. 6 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Equity Group—Focus on Core Competencies Templeton Global Smaller Companies Fund   Templeton Global Equity Group—Focus on Core Competencies 1. Global includes global balanced mandates. 2. Other includes regional and single country mandates and global and international small cap. 7 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Smaller Companies Fund   Templeton Global Equity Group—Value Investors Focused on Seeking Long-Term Capital Growth for Our Clients 8 For Dealer Use Only | Not for Distribution to the Public

The Templeton Investment Philosophy Templeton Global Smaller Companies Fund   The Templeton Investment Philosophy 9 For Dealer Use Only | Not for Distribution to the Public

Experienced Team of Global Analysts Templeton Global Smaller Companies Fund   Experienced Team of Global Analysts Investment team information is as of December 31, 2017. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. 10 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Smaller Companies Fund   Bottom-Up Stock Pickers: Global Focus Uncovers the Best Opportunities Across Sectors and Geographies 11 For Dealer Use Only | Not for Distribution to the Public

Templeton’s Valuation-Driven Investment Process Templeton Global Smaller Companies Fund   Templeton’s Valuation-Driven Investment Process 12 For Dealer Use Only | Not for Distribution to the Public

Templeton’s Valuation-Driven Investment Process Templeton Global Smaller Companies Fund   Templeton’s Valuation-Driven Investment Process 13 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Smaller Companies Fund   14 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Smaller Companies Fund   15 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Smaller Companies Fund   16 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Smaller Companies Fund   17 For Dealer Use Only | Not for Distribution to the Public

Performance and Characteristics Templeton Global Smaller Companies Fund   Performance and Characteristics 18 For Dealer Use Only | Not for Distribution to the Public

Summary Templeton Global Smaller Companies Fund   Summary Templeton Global Smaller Companies Fund - Series F As of December 31, 2017 Summary of Investment Objectives Fund Inception Date January 3, 1989 This Fund seeks long-term capital appreciation by investing primarily in securities of smaller companies around the world. Smaller companies are those similar in size to the companies in the MSCI All Country World (ACWI) Small Cap Index, at the time of initial purchase. Series Inception Date November 24, 2000 Distribution Frequency Annually Investment Style Global Value Portfolio Manager(s) Benchmarks MSCI All Country World Small Cap Index Custom Templeton Global Smaller Companies Benchmark (Time-Linked) Custom Templeton Global Smaller Companies Benchmark (Non-Time-Linked) MSCI World Index Harlan Hodes United States David Tuttle, CFA Canada Total Net Assets (CAD) [All Series] 323,405,169 Number of Issuers 97 Portfolio Turnover 11.08% Asset Allocation Equity: 95.27% Cash & Cash Equivalents: 4.73% Custom Templeton Global Smaller Companies Index is a blended index composed of the MSCI All Country World Small Cap Index and MSCI World Index. The customized index reflects the returns of the MSCI All Country World Small Cap Index on and after January 1, 2012, and the MSCI World Index prior to January 1, 2012. The Portfolio Turnover is calculated over a 12-month period as at the end of the fiscal year (June 30, 2017). Holdings of the same issuer have been combined. Information is historical and may not reflect current or future portfolio characteristics. All portfolio holdings are subject to change. Percentage may not equal 100% due to rounding. 19 For Dealer Use Only | Not for Distribution to the Public

Sector Allocation Templeton Global Smaller Companies Fund   Sector Allocation Templeton Global Smaller Companies Fund  vs. MSCI All Country World Small Cap Index  As of December 31, 2017 Portfolio % Index % Over/Under % Consumer Discretionary          24.49 14.36 10.13 Consumer Discretionary Consumer Durables & Apparel 17.58 2.98 14.60 Automobiles & Components 3.87 1.90 1.97 Industrials Retailing 3.03 3.62 -0.58 Consumer Services 0.00 3.75 -3.75 Information Technology Media 0.00 2.11 -2.11 Industrials 22.40 17.20 5.20 Financials Capital Goods 20.81 11.86 8.95 Commercial & Professional Services 1.59 2.96 -1.38 Consumer Staples Transportation 0.00 2.37 -2.37 Information Technology 11.69 13.61 -1.92 Materials Technology Hardware & Equipment 8.87 4.30 4.57 Software & Services 1.81 6.46 -4.65 Health Care Semiconductors & Semiconductor Equipment 1.01 2.86 -1.85 Financials 11.09 13.17 -2.08 Energy Diversified Financials 6.55 4.54 2.01 Banks 3.91 6.45 -2.53 Real Estate Insurance 0.63 2.19 -1.56 Consumer Staples 7.63 5.20 2.43 Utilities Food, Beverage & Tobacco 4.74 3.19 1.55 Household & Personal Products 1.99 0.79 1.20 Telecommunication Services Food & Staples Retailing 0.90 1.22 -0.32 Materials 7.57 8.66 -1.08 Cash & Cash Equivalents Health Care 4.76 9.79 -5.03 Pharmaceuticals, Biotechnology & Life Sciences 3.89 5.60 -1.71 Health Care Equipment & Services 0.88 4.20 -3.32 0% 6% 12% 18% 24% 30% Energy 2.98 3.91 -0.93    Templeton Global Smaller Companies Fund Real Estate 2.67 10.11 -7.44    MSCI All Country World Small Cap Index Utilities 0.00 3.13 -3.13 Telecommunication Services 0.00 0.86 -0.86 Cash & Cash Equivalents 4.73 0.00 4.73 Weightings as percent of total. Percentage may not total 100% due to rounding. Information is historical and may not reflect current or future portfolio characteristics. All portfolio holdings are subject to change. 20 For Dealer Use Only | Not for Distribution to the Public

Geographic Allocation Templeton Global Smaller Companies Fund   Geographic Allocation Templeton Global Smaller Companies Fund vs. MSCI All Country World Small Cap Index  Portfolio % Index % Over/Under % As of December 31, 2017 North America 38.68 52.04 -13.35 United States 34.24 48.49 -14.26 Canada 4.44 3.54 0.90 Europe 29.67 21.08 8.59 United Kingdom 6.11 6.83 -0.72 North America Italy 4.67 1.46 3.21 Germany 4.48 2.19 2.29 Finland 3.43 0.55 2.88 Europe Switzerland 3.34 1.75 1.60 Sweden 2.48 1.84 0.64 Netherlands 2.02 0.92 1.09 Asia Poland 1.25 0.11 1.14 Others 1.88 5.42 -3.53 Asia 23.34 21.63 1.71 Japan 12.39 11.19 1.20 Latin America / Caribbean Hong Kong 3.70 0.78 2.92 Taiwan 3.55 1.97 1.58 Indonesia 1.67 0.26 1.42 Australia  /  New Zealand South Korea 1.55 1.88 -0.33 India 0.47 1.73 -1.26 China 0.00 2.23 -2.23 Mid-East / Africa Others 0.00 1.58 -1.58 Latin America / Caribbean 3.58 1.11 2.48 Brazil 2.68 0.62 2.06 Cash & Cash Equivalents Others 0.91 0.49 0.42 Australia  /  New Zealand 0.00 2.80 -2.80 Australia 0.00 2.44 -2.44 New Zealand 0.00 0.36 -0.36 0% 11% 22% 33% 44% 55% Mid-East / Africa 0.00 1.35 -1.35 Others 0.00 1.35 -1.35    Templeton Global Smaller Companies Fund Cash & Cash Equivalents 4.73 0.00 4.73    MSCI All Country World Small Cap Index Emerging Markets Exposure 12.59 11.40 1.19 Emerging markets exposure is based on the countries included in the MSCI Emerging Markets Index. Weightings as percent of total. Information is historical and may not reflect current or future portfolio characteristics. All portfolio holdings are subject to change. 21 For Dealer Use Only | Not for Distribution to the Public

Top Ten Holdings Templeton Global Smaller Companies Fund   Top Ten Holdings Templeton Global Smaller Companies Fund As of December 31, 2017 Name of Issuer Country Industry % of Total TECHTRONIC INDUSTRIES CO LTD Hong Kong Consumer Durables & Apparel 2.06 THULE GROUP AB/THE Sweden Consumer Durables & Apparel 1.95 COLUMBIA SPORTSWEAR CO United States Consumer Durables & Apparel 1.94 HILLENBRAND INC United States Capital Goods 1.92 WINNEBAGO INDUSTRIES INC United States Automobiles & Components 1.91 FRESHPET INC United States Food Beverage & Tobacco 1.88 ALAMO GROUP INC United States Capital Goods 1.88 SIMPSON MANUFACTURING CO INC United States Capital Goods 1.86 ALLIANCEBERNSTEIN HOLDING LP United States Diversified Financials 1.86 INTERPUMP GROUP SPA Italy Capital Goods 1.80 Total 19.06 Holdings of the same issuer have been combined, unless otherwise noted. Information is historical and may not reflect current or future portfolio characteristics. All portfolio holdings are subject to change. The information provided is not a recommendation to purchase, sell, or hold any particular security. The securities identified do not represent the Fund’s entire holdings and in the aggregate may represent only a small percentage of such holdings. There is no assurance that securities purchased will remain in the Fund or that securities sold will not be purchased. In addition, it should not be assumed that any securities transactions discussed were or will prove to be profitable. The portfolio manager for the Fund reserves the right to withhold release of information with respect to holdings that would otherwise be included in the top 10 holdings list. 22 For Dealer Use Only | Not for Distribution to the Public

Portfolio Characteristics Templeton Global Smaller Companies Fund   Portfolio Characteristics Templeton Global Smaller Companies Fund vs. MSCI All Country World Small Cap Index As of December 31, 2017 Portfolio Index Price to Earnings (12-month Trailing) 20.22x 27.49x Price to Cash Flow 11.96x 12.79x Price to Book 2.22x 1.99x Dividend Yield 1.56% 1.83% Market Capitalization (Millions CAD) 3,848 3,625 Market Capitalization Breakdown in CAD Portfolio % <1.0 Billion 10.08 1.0-2.0 Billion 18.08 2.0-5.0 Billion 46.19 5.0-10.0 Billion 19.15 >10.0 Billion 4.75 N/A 1.75 Information is historical and may not reflect current or future portfolio characteristics. All portfolio holdings are subject to change. The portfolio characteristics listed are based on the Fund’s underlying holdings, and do not necessarily reflect the Fund’s characteristics. Due to data limitations all equity holdings are assumed to be the primary equity issue (usually the ordinary or common shares) of each security’s issuing company. This methodology may cause small differences between the portfolio’s reported characteristics and the portfolio’s actual characteristics. In practice, Franklin Templeton’s portfolio managers invest in the class or type of security which they believe is most appropriate at the time of purchase. The dividend yield quoted here is the yield on securities within the Fund’s portfolio and should not be used as an indication of the income received from this portfolio. The market capitalisation figures for both the portfolio and the benchmark are the security level, not aggregated up to the main issuer. Source: FactSet. Price Ratio calculations for the weighted average use harmonic means. Any exceptions to this are noted. Market capitalisation statistics are indicated in the base currency for the portfolio presented. Past performance is not an indicator or a guarantee of future performance. 23 For Dealer Use Only | Not for Distribution to the Public

Performance Statistics Templeton Global Smaller Companies Fund   Performance Statistics Templeton Global Smaller Companies Fund - Series F As of December 31, 2017 Compounded Returns (%)  Inception Date 1 Mth* 3 Mths* YTD* 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Incept Templeton Global Smaller Companies Fund - Series F 11.24.2000 -0.92 8.01 17.53 17.53 11.46 13.46 6.45 7.90 MSCI All Country World Small Cap Index -1.00 5.95 16.15 16.15 14.42 18.14 10.27 8.56 Custom Templeton Global Smaller Companies Benchmark (Time-Linked) -1.00 5.95 16.15 16.15 14.42 18.14 8.65 4.80 Custom Templeton Global Smaller Companies Benchmark (Non-Time-Linked) -1.00 5.95 16.15 16.15 14.42 18.14 10.27 8.56 MSCI World Index -1.40 5.81 14.99 14.99 12.80 17.54 8.18 4.20 Custom Templeton Global Smaller Companies Index is a blended index composed of the MSCI All Country World Small Cap Index and MSCI World Index. The customized index reflects the returns of the MSCI All Country World Small Cap Index on and after January 1, 2012, and the MSCI World Index prior to January 1, 2012. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.  Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As a consequence, the management fee on Series F is lower than on Series A. *Cumulative Total Returns Past performance is not an indicator or a guarantee of future performance. 24 For Dealer Use Only | Not for Distribution to the Public

Calendar Year Returns Templeton Global Smaller Companies Fund   Calendar Year Returns Templeton Global Smaller Companies Fund - Series F As of December 31, 2017 56% 52.69 37.84 37.84 34.28 32% 28.49 17.53 19.18 19.18 19.45 20.10 16.15 16.15 16.00 16.00 11.41 11.41 12.79 11.07 8.71 8.22 8.22 8.38 6.48 8% 1.10 -21.92 -8.75 -2.67 -38.12 -29.23 -25.37 -16% -40% 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008    Templeton Global Smaller Companies Fund - Series F    MSCI All Country World Small Cap Index    Custom Templeton Global Smaller Companies Benchmark (Time-Linked) Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.  Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As a consequence, the management fee on Series F is lower than on Series A. Past performance is not an indicator or a guarantee of future performance. 25 For Dealer Use Only | Not for Distribution to the Public

Performance Risk Statistics Templeton Global Smaller Companies Fund   Performance Risk Statistics Templeton Global Smaller Companies Fund - Series F As of December 31, 2017 Performance Risk Statistics 1 Yr 3 Yrs* 5 Yrs* 10 Yrs* 15 Yrs* Standard Deviation (%): Templeton Global Smaller Companies Fund - Series F   9.02 10.75 9.90 16.33 15.12 Custom Templeton Global Smaller Companies Benchmark 8.24 10.89 9.74 12.09 11.30 Tracking Error (%)^^  2.69 3.73 4.08 8.36 7.99 Information Ratio^^  0.51 -0.79 -1.15 -0.26 0.00 Beta^^  1.05 0.93 0.93 1.17 1.14 Sharpe Ratio 1.88 1.01 1.29 0.33 0.42 ^^Measured against the Custom Templeton Global Smaller Companies Benchmark. *Annualized. Past performance is not an indicator or a guarantee of future performance. 26 For Dealer Use Only | Not for Distribution to the Public

Templeton Global Equity Group—Focus on Core Competencies Templeton Global Smaller Companies Fund   Templeton Global Equity Group—Focus on Core Competencies 27 For Dealer Use Only | Not for Distribution to the Public

Management Profiles Templeton Global Smaller Companies Fund   Management Profiles 28 For Dealer Use Only | Not for Distribution to the Public

Management Profile Templeton Global Smaller Companies Fund   Management Profile 29 For Dealer Use Only | Not for Distribution to the Public

Management Profile Templeton Global Smaller Companies Fund   Management Profile 30 For Dealer Use Only | Not for Distribution to the Public

Important Information Templeton Global Smaller Companies Fund   Important Information 31 For Dealer Use Only | Not for Distribution to the Public

Glossary Templeton Global Smaller Companies Fund   Glossary Beta:  A measure of the magnitude of a portfolio's past share-price fluctuations in relation to the ups and downs of the overall market (or appropriate market index). The market (or index) is assigned a beta of 1.00, so a portfolio with a beta of 1.20 would have seen its share price rise or fall by 12% when the overall market rose or fell by 10%.  Information Ratio:  In investing terminology, the ratio of expected return to risk. Usually, this statistical technique is used to measure a manager's performance against a benchmark. This measure explicitly relates the degree by which an investment has beaten the benchmark to the consistency by which the investment has beaten the benchmark.  Market Capitalization:  A determination of a company's value, calculated by multiplying the total number of company stock shares outstanding by the price per share.  Price to Book:  The price per share of a stock divided by its book value (i.e., net worth) per share. For a portfolio, the value represents a weighted average of the stocks it holds.  Price to Cash Flow:  Supplements price/earnings ratio as a measure of relative value for a stock. For a portfolio, the value represents a weighted average of the stocks it holds.  Sharpe Ratio:  To calculate a Sharpe ratio, an asset's excess returns (its return in excess of the return generated by risk-free assets such as Treasury bills) are divided by the asset's standard deviation.  Standard Deviation:  A measure of the degree to which a fund's return varies from the average of its previous returns. The larger the standard deviation, the greater the likelihood (and risk) that a fund's performance will fluctuate from the average return.  Tracking Error:  Measure of the deviation of the return of a fund compared to the return of a benchmark over a fixed period of time. Expressed as a percentage. The more passively the investment fund is managed, the smaller the tracking error.  32 For Dealer Use Only | Not for Distribution to the Public

Important Disclosures Templeton Global Smaller Companies Fund   Important Disclosures The information presented is considered reliable at the present time; however, we do not represent that it is accurate or complete, or that it should be relied upon as such. Speculation or stated beliefs about future events, such as market or economic conditions, company or security performance, upcoming product offerings or other projections represent the beliefs of the speaker and do not necessarily represent the views of Franklin Templeton Investments Corp. General business, market, economic and political conditions could cause actual results to differ materially. The information presented is not a recommendation or solicitation to buy or sell securities.     Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.     Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As a consequence, the management fee on Series F is lower than on Series A.    Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. All MSCI data is provided “as is.” The Fund described herein is not sponsored or endorsed by MSCI. In no event shall MSCI, its affiliates or any MSCI data provider have any liability of any kind in connection with the MSCI data or the Fund described herein. Copying or redistributing the MSCI data is strictly prohibited.    © 2018 Franklin Templeton Investments Corp. All rights reserved. Franklin Templeton Investments Canada is a business name used by Franklin Templeton Investments Corp. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. 33 For Dealer Use Only | Not for Distribution to the Public