Issued by Franklin Templeton Australia Limited (ABN 76 004 835 849, AFSL 240827).

Information on this website is intended to be of general information only and does not constitute investment or financial product advice. It expresses no views as to the suitability of the products or services described as to the individual circumstances, objectives, financial situation, or needs of any investor. You should conduct your own investigation or consult a financial adviser before making any decision to invest and to help determine if the information provided is suitable for your particular circumstances. Please read the relevant Product Disclosure Statements, and any associated reference documents before making an investment decision. Neither Franklin Templeton Australia, nor any other company within the Franklin Templeton group guarantees the performance of any Fund, nor do they provide any guarantee in respect of the repayment of your capital. In accordance with the Design and Distribution Obligations, we maintain Target Market Determinations for each of our Funds. All documents can be found via the Literature Page or by calling 1800 673 776.

Past performance is not necessarily indicative of future performance and may not necessarily be repeated. Returns are volatile and may go up and down significantly. Any prediction, projection or forecast on the economy, stock market, bond market or the economic trends of the markets is not necessarily indicative of the future or likely performance. All investments involve risks, including possible loss of principal.

All investments involve risks, including possible loss of principal. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Changes in the credit rating of a bond, or in the credit rating or financial strength of a bond’s issuer, insurer or guarantor, may affect the bond’s value. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Equity securities are subject to price fluctuation and possible loss of principal. Dividends may fluctuate and are not guaranteed, and a company may reduce or eliminate its dividend at any time. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. The investment style may become out of favour, which may have a negative impact on performance. Active management does not ensure gains or protect against market declines. Liquidity risk arises when adverse market conditions affect the ability to sell assets when necessary. For further information relating to the risks that are relevant to this Fund, please refer to the relevant Product Disclosure Statement, Additional Information Booklet and Target Market Determination for the Fund found on our website here www.franklintempleton.com.au.

The rating issued (Brandywine Global Dynamic Bond Fund – September 2024; Brandywine Global Opportunistic Equity Fund – April 2025; Brandywine Global Opportunistic Fixed Income Fund - September 2024; Franklin Australian Absolute Return Bond Fund – November 2024; Franklin Australian Core Plus Bond Fund – October 2024; Franklin Multi-Asset Balanced Fund – March 2025; Franklin Multi-Asset Conservative Fund – March 2025; Franklin Multi-Asset Defensive Fund – March 2025; Franklin Multi-Asset Growth Fund – March 2025; Franklin Multi-Asset High Growth Fund – March 2025; Franklin Templeton Global Aggregate Bond Fund – October 2024; ClearBridge Active Insights Fund – September 2025; ClearBridge Diversified Growth Fund – April 2025; ClearBridge Emerging Markets Fund – March 2025; ClearBridge Equity Income Fund – November 2024; ClearBridge Ethical Values with Income Fund – November 2024; Franklin Global Long-Term Unconstrained Fund– April 2025; ClearBridge Real Income Fund – May 2025; ClearBridge Select Opportunities Fund – November 2024; ClearBridge Sustainable Equity Fund – November 2024; ClearBridge Sustainable Income Fund – November 2024; Western Asset Australian Bond Fund – December 2024; Western Asset Conservative Income Fund – December 2024; Western Asset Global Bond Fund – December 2024; Betashares Western Asset Australian Bond Active ETF (December 2024) are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. ©2025 Lonsec. All rights reserved.

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (Brandywine Global Dynamic Bond Fund APIR SSB0515AU - assigned 18 March 2025; Brandywine Global Opportunistic Equity Fund APIR SSB1961AU – assigned 28 November 2024; Brandywine Global Opportunistic Fixed Income Fund APIR SSB0014AU - assigned 18 March 2025; Franklin Australian Absolute Return Bond Fund APIR FRT0027AU - assigned 13 June 2024; Franklin Global Responsible Investment Fund APIR SSB5738AU - assigned 28 November 2024; Franklin Global Systematic Equity Fund APIR SSB0126AU – assigned 28 November 2024; Franklin Templeton Global Aggregate Bond Fund APIR FRT0025AU - assigned 18 March 2025; ClearBridge Emerging Markets Fund APIR ETL0201AU – assigned 30 October 2024; ClearBridge Equity Income Fund APIR SSB0043AU - assigned 26 June 2025; ClearBridge Real Income Fund APIR SSB0026AU - assigned 26 June 2025; ClearBridge Select Opportunities Fund APIR SSB0009AU - assigned 26 June 2025; ClearBridge Sustainable Equity Fund APIR SSB0125AU- assigned 26 June 2025; Royce Global Small Cap Premier Fund APIR SSB9218AU – assigned 28 November 2024; Western Asset Australian Bond Fund APIR SSB0122AU – assigned 13 December 2024; Western Asset Australian Enhanced Income Fund APIR SSB8484AU - assigned 13 December 2024; Western Asset Global Bond Fund APIR SSB8320AU – assigned 18 March 2025; Betashares Western Asset Australian Bond Active ETF – assigned 13 December 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Regulatory Guidelines - Zenith Investment Partners

The Morningstar Medalist Rating™ for Brandywine Global Opportunistic Fixed Income Fund – Class A is ‘Bronze’ as at 1 October 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Franklin Australian Absolute Return Bond Fund - Class A is ‘Bronze’ as at 5 March 2025 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Franklin Australian Absolute Return Bond Fund - Class M is ‘Silver’ as at 5 March 2025 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Franklin Global Growth Fund – Class A is 'Silver' as at 22 April 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Franklin Global Growth Fund – Class A (Hedged) is 'Silver' as at 22 April 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Franklin Global Growth Fund – Class M is 'Silver' as at 22 April 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Franklin Global Growth Fund – Class M (Hedged) is 'Silver' as at 22 April 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for ClearBridge Emerging Markets Fund – Class A is 'Bronze' as at 11 June 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for ClearBridge Equity Income Fund – Class A is 'Neutral' as at 23 October 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for ClearBridge Real Income Fund – Class A is ‘Neutral’ as at 6 November 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Western Asset Australian Bond Fund – Class A is ‘Silver’ as at 12 September 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Western Asset Global Bond Fund – Class A is ‘Bronze’ as at 11 February 2025 (Analyst-Driven % 100.0; Data Coverage % 100.0). The Morningstar Medalist Rating™ for Betashares Western Asset Australian Bond Active ETF is “Silver” as at 12 September 2024 (Analyst-Driven % 100.0; Data Coverage % 100.0).

© 2025 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or ‘class service’ have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement (Australian products) or Investment Statement (New Zealand products) before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 (“ASXO”).

The Genium rating (Franklin Australian Absolute Return Bond Fund assigned August 2024, Franklin Global Responsible Investment Fund assigned May 2025, ClearBridge Emerging Markets Fund assigned August 2024, Western Asset Australian Bond Fund assigned July 2024, Western Asset Global Bond Fund assigned July 2024) presented in this document is issued by Genium Investment Partners Pty Ltd ABN 13 165 099 785, which is a Corporate Authorised Representative of Genium Advisory Services Pty Ltd ABN 94 304 403 582, AFSL 246580. The Rating is limited to “General Advice” (s766B Corporations Act 2001 (Cth)) and has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without notice. Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision in relation to this financial product(s). Genium receives a fee from the Fund Manager for researching and rating the product(s). Visit Genium Investment Partners for information regarding Genium’s ratings methodology.

The rating contained in this document is issued by SQM Research Pty Ltd ABN 93 122 592 036 AFSL 421913. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme. Visit SQM Research for information regarding SQMs ratings methodology.

Any prediction, projection or forecast on the economy, stock market, bond market or the economic trends of the markets is not necessarily indicative of the future or likely performance. All investments involve risks, including possible loss of principal.

Information on this website is intended to be of general information only and does not constitute investment or financial product advice. It expresses no views as to the suitability of the products or services described as to the individual circumstances, objectives, financial situation, or needs of any investor. You should conduct your own investigation or consult a financial adviser before making any decision to invest. Please read the relevant Product Disclosure Statements (PDSs), and any associated reference documents before making an investment decision. Neither Franklin Templeton Australia, nor any other company within the Franklin Templeton group guarantees the performance of any Fund, nor do they provide any guarantee in respect of the repayment of your capital. In accordance with the Design and Distribution Obligations, we maintain Target Market Determinations (TMD) for each of our Funds. All documents can be found via the Literature Page or by calling 1800 673 776.