Source for sector average performance: Copyright - © Morningstar Inc. Please see the Fund’s offering documents or contact your service agent for more information.

An investor cannot invest directly in an index or peer group. This Fund may not be exchangeable with other Franklin Templeton managed funds. Index and peer group returns do not reflect any fees, expenses or sales charges. Comparisons to relevant indexes and peer groups are included as a standard against which the performance of a fund can be measured. Investment return and principal value of an investment in the Fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Sales charges, taxes and other locally applied costs have not been deducted, had they been deducted performance results would be lower. NAV to NAV, with gross income reinvested without initial charges but reflecting annual management fees. Source for performance figures - Legg Mason. Past performance is not a reliable indicator of future results.