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The [Cboe S&P 500 2% OTM BuyWrite Index^SM, Cboe S&P 500 BuyWrite Index^SM, Cboe S&P 500 95-10 Collar Index^SM, Cboe S&P 500 PutWrite Index^SM] and values thereof (together, the “Index”) and related trademarks are the property of Cboe Global Indices, LLC and/or its affiliates (together, “CGI”) and/or third-party licensors and/or their affiliates (together with CGI, the “CGI Parties”) and is used pursuant to limited license. S&P® and S&P 500® are registered trademarks of S&P Dow Jones Indices, LLC or its affiliates and have been licensed for use by CGI. The CGI Parties make no express or implied warranties, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the Index and any data used to calculate the Index. The CGI Parties do not represent or guaranty that any Index values or other information is accurate, complete, timely or useful for any purpose. All values and other Index information is “as is” and users assume all risk of use. Without limiting any of the foregoing, in no event whatsoever shall the CGI Parties be liable for any indirect, special, incidental, punitive or consequential damages including but not limited to, lost profits, lost opportunities, trading losses, lost time or goodwill, whether in contract, tort, strict liability or other type of claim arising out of or related to (i) any fund or third-party investment product that is based on or compared with the Index and/or (ii) use of or reliance on any Index information.

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“Dow Jones®” and “Dow Jones Islamic Market World Developed Total Return Index” are trademarks of Dow Jones Trademark Holdings LLC (“Dow Jones”) or its affiliates and have been licensed for use for certain purposes by S&P Dow Jones Indices LLC and its affiliates (“S&P Dow Jones Indices”) and sublicensed to Franklin Templeton for use with the certain Franklin Templeton managed funds or accounts, which is benchmarked to the Dow Jones Islamic Market World Developed Total Return Index, but are not sponsored, endorsed, sold or promoted by Dow Jones, S&P Dow Jones Indices or their respective affiliates, and none of S&P Dow Jones Indices, Dow Jones or any of their respective affiliates makes any representation regarding the advisability of trading such product(s).

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© FactSet Research Systems Inc. All Rights Reserved. The information contained herein: (1) is proprietary to FactSet Research Systems Inc. and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither FactSet Research Systems Inc. nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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Source: FTSE International Limited (“FTSE”) © FTSE [year]. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under license. All rights in the FTSE indices and / or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and / or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE’s express written consent.

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www.hedgefundresearch.com. The HFR Indices are being used under license from Hedge Fund Research, Inc., which does not endorse or approve of any of the contents of this report.

Source: Intercontinental Exchange (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN “AS IS” BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND Franklin Templeton, OR ANY OF ITS PRODUCTS OR SERVICES.

Copyright © By International Monetary Fund. All Rights Reserved.

Copyright JPMorgan Chase & Co. All rights reserved.

The TOPIX Total Return Index Value and the TOPIX Total Return Index Marks are subject to the proprietary rights owned by JPX Market Innovation & Research, Inc. or affiliates of JPX Market Innovation & Research, Inc. (hereinafter collectively referred to as "JPX") and JPX owns all rights and know-how relating to the TOPIX Total Return Index such as calculation, publication and use of the TOPIX Total Return Index Value and relating to the TOPIX Total Return Index Marks. JPX shall not be liable for the miscalculation, incorrect publication, delayed or interrupted publication of the TOPIX Total Return Index Value.

The MSCI data is comprised of a custom index calculated by MSCI for Franklin Templeton. MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.

Certain ESG data sourced from MSCI ESG Research.

This report contains certain information (the “Information”) sourced from and/or ©MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”) and may have been used to calculate scores, ratings or other indicators. The Information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants or guarantees the originality, accuracy and/or completeness, of any data herein and expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the Information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data or Information herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.

Source: MSCI Inc. Data from the LibertyQ International Hedged Index is owned and calculated by MSCI, is based on the MSCI EAFE Index and aims to reflect the performance of a Franklin Templeton strategy. The Franklin LibertyQ International Equity Hedged ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQ International Equity Hedged ETF. See the prospectus or statement of additional information of Franklin LibertyQ International Equity Hedged ETF for further information.

Source: MSCI Inc. Data is from the LibertyQ Global Equity Index is owned and calculated by MSCI, is based on the MSCI ACWI Index and aims to reflect the performance of a Franklin Templeton strategy. The Franklin LibertyQ Global Equity ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQ Global Equity ETF. See the prospectus or statement of additional information of Franklin LibertyQ Global Equity ETF for further information.

Source: MSCI Inc. Data from the LibertyQ Global Dividend Index is owned and calculated by MSCI, is based on the MSCI ACWI ex REITs Index and aims to reflect the performance of a Franklin Templeton strategy. The Franklin LibertyQ Global Dividend ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQ Global Dividend ETF See the prospectus or statement of additional information of Franklin LibertyQ Global Dividend ETF for further information.

Source: MSCI Inc. Data is from the LibertyQ Emerging Markets Index is owned and calculated by MSCI, is based on the MSCI Emerging Markets Index and aims to reflect the performance of a Franklin Templeton strategy. The Franklin LibertyQ Emerging Markets ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQ Emerging Markets ETF. See the prospectus or statement of additional information of Franklin LibertyQ Emerging Markets ETF for further information.

Source: MSCI, Inc. The LibertyQ International Equity Index is a custom index based on the MSCI EAFE Index and is owned and independently calculated and maintained by MSCI. The methodology for the Index is publicly available on the MSCI website. The Franklin LibertyQT International Equity Index ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQT International Equity Index ETF. See the prospectus or statement of additional information of Franklin LibertyQT International Equity Index ETF for further information.

© Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar® US Target Market Exposure Index℠

Morningstar® US Dividend Enhanced Select Index℠

Morningstar® Developed Markets ex-North America Dividend Enhanced Select Index℠

Morningstar® Emerging Markets Dividend Enhanced Select Index℠

(collectively "Morningstar Indices")

Franklin Templeton ETFs (“the ETFs”) are not sponsored, endorsed, sold or promoted by Morningstar, Inc. Morningstar makes no representation or warranty, express or implied, to the owners of the ETFs or any member of the public regarding the advisability of investing in securities generally or in the ETFs in particular or the ability of the ETFs to track general stock market performance. Morningstar’s only relationship to Franklin Templeton is the licensing of certain trademarks, service marks, and service names of Morningstar and of the Morningstar Indices which is determined, composed and calculated by Morningstar without regard to Franklin Templeton or the ETFs. Morningstar has no obligation to take the needs of Franklin Templeton or investors in the ETFs into consideration in determining, composing or calculating the ETFs. Morningstar is not responsible for and has not participated in the determination of the prices and amount of the ETFs or the timing of the issuance or sale of the ETFs or in the determination or calculation of the equation by which the ETFs is converted into cash. Morningstar has no obligation or liability in connection with the administration, marketing or trading of the ETFs.

MORNINGSTAR, INC., EXPRESSLY DISCLAIMS ANY WARRANTY AROUND THE ACCURACY, COMPLETENESS AND/OR TIMELINESS OF THE ETFs OR ANY DATA INCLUDED THEREIN AND MORNINGSTAR SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. MORNINGSTAR MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY FRANKLIN TEMPLETON, OWNERS OR USERS OF THE ETFs, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE ETFs OR ANY DATA INCLUDED THEREIN. MORNINGSTAR MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE ETFs OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL MORNINGSTAR HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

The MSCI data is comprised of a custom index calculated by MSCI for Franklin Templeton. MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.

Certain ESG data sourced from MSCI ESG Research.

This report contains certain information (the “Information”) sourced from and/or ©MSCI ESG Research LLC, or its affiliates or information providers (the “ESG Parties”) and may have been used to calculate scores, ratings or other indicators. The Information may only be used for your internal use, may not be reproduced or redisseminated in any form and may not be used as a basis for or a component of any financial instruments or products or indices. Although they obtain information from sources they consider reliable, none of the ESG Parties warrants or guarantees the originality, accuracy and/or completeness, of any data herein and expressly disclaim all express or implied warranties, including those of merchantability and fitness for a particular purpose. None of the Information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. None of the ESG Parties shall have any liability for any errors or omissions in connection with any data or Information herein, or any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.

Source: MSCI Inc. Data from the LibertyQ International Hedged Index is owned and calculated by MSCI, is based on the MSCI EAFE Index and aims to reflect the performance of a Franklin Templeton strategy. The Franklin LibertyQ International Equity Hedged ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQ International Equity Hedged ETF. See the prospectus or statement of additional information of Franklin LibertyQ International Equity Hedged ETF for further information.

Source: MSCI Inc. Data is from the LibertyQ Global Equity Index is owned and calculated by MSCI, is based on the MSCI ACWI Index and aims to reflect the performance of a Franklin Templeton strategy. The Franklin LibertyQ Global Equity ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQ Global Equity ETF. See the prospectus or statement of additional information of Franklin LibertyQ Global Equity ETF for further information.

Source: MSCI Inc. Data from the LibertyQ Global Dividend Index is owned and calculated by MSCI, is based on the MSCI ACWI ex REITs Index and aims to reflect the performance of a Franklin Templeton strategy. The Franklin LibertyQ Global Dividend ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQ Global Dividend ETF See the prospectus or statement of additional information of Franklin LibertyQ Global Dividend ETF for further information.

Source: MSCI Inc. Data is from the LibertyQ Emerging Markets Index is owned and calculated by MSCI, is based on the MSCI Emerging Markets Index and aims to reflect the performance of a Franklin Templeton strategy. The Franklin LibertyQ Emerging Markets ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQ Emerging Markets ETF. See the prospectus or statement of additional information of Franklin LibertyQ Emerging Markets ETF for further information.

Source: MSCI, Inc. The LibertyQ International Equity Index is a custom index based on the MSCI EAFE Index and is owned and independently calculated and maintained by MSCI. The methodology for the Index is publicly available on the MSCI website. The Franklin LibertyQT International Equity Index ETF is not sponsored, endorsed, issued, sold or promoted by or affiliated with MSCI Inc. MSCI Inc. does not make any representation regarding the advisability of investing in the Franklin LibertyQT International Equity Index ETF. See the prospectus or statement of additional information of Franklin LibertyQT International Equity Index ETF for further information.

© Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar® US Target Market Exposure Index℠

Morningstar® US Dividend Enhanced Select Index℠

Morningstar® Developed Markets ex-North America Dividend Enhanced Select Index℠

Morningstar® Emerging Markets Dividend Enhanced Select Index℠

(collectively "Morningstar Indices")

Franklin Templeton ETFs (“the ETFs”) are not sponsored, endorsed, sold or promoted by Morningstar, Inc. Morningstar makes no representation or warranty, express or implied, to the owners of the ETFs or any member of the public regarding the advisability of investing in securities generally or in the ETFs in particular or the ability of the ETFs to track general stock market performance. Morningstar’s only relationship to Franklin Templeton is the licensing of certain trademarks, service marks, and service names of Morningstar and of the Morningstar Indices which is determined, composed and calculated by Morningstar without regard to Franklin Templeton or the ETFs. Morningstar has no obligation to take the needs of Franklin Templeton or investors in the ETFs into consideration in determining, composing or calculating the ETFs. Morningstar is not responsible for and has not participated in the determination of the prices and amount of the ETFs or the timing of the issuance or sale of the ETFs or in the determination or calculation of the equation by which the ETFs is converted into cash. Morningstar has no obligation or liability in connection with the administration, marketing or trading of the ETFs.

MORNINGSTAR, INC., EXPRESSLY DISCLAIMS ANY WARRANTY AROUND THE ACCURACY, COMPLETENESS AND/OR TIMELINESS OF THE ETFs OR ANY DATA INCLUDED THEREIN AND MORNINGSTAR SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. MORNINGSTAR MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY FRANKLIN TEMPLETON, OWNERS OR USERS OF THE ETFs, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE ETFs OR ANY DATA INCLUDED THEREIN. MORNINGSTAR MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE ETFs OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL MORNINGSTAR HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

© Copyright Ned Davis Research, Inc. Further distribution prohibited without prior permission. All Rights Reserved. See NDR Disclaimer at http://www.ndr.com/c/portal/article/eula. For data vendor disclaimers refer to http://www.ndr.com/invest/vendorinfo/.

Payden & Rygel. All information contained herein was obtained from sources P&R regards as reliable, but P&R does not guarantee its accuracy.

For the US and ex-Canada:

Source: FTSE Russell. The LibertyQ U.S. Large, Small and Mid Cap Equity Indexes are calculated and maintained by FTSE Russell which aim to reflect the performance of a Franklin Templeton strategy. The LibertyQ U.S. Equity ETFs are not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the LibertyQ U.S. Equity ETFs are based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the LibertyQ U.S. Equity ETFs. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Franklin Templeton or to its clients. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein. Frank Russell Company is the source of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

For Canada:

Source: FTSE Russell. The LibertyQ U.S. Equity Index is calculated and maintained by FTSE Russell which is designed to reflect the performance of stocks representing a specific set of factor characteristics — quality, value, momentum and low volatility. The LibertyQT U.S. Equity Index ETF is not in any way sponsored, endorsed, sold or promoted by Russell or the London Stock Exchange Group companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the LibertyQT U.S. Equity Index ETF is based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the LibertyQT U.S. Equity Index ETF. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Franklin Templeton or to its clients. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein. Frank Russell Company is the source of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

Payden & Rygel. All information contained herein was obtained from sources P&R regards as reliable, but P&R does not guarantee its accuracy.

S&P Custom Index (the “Index”) is the exclusive property of S&P Opco, LLC, a subsidiary of S&P Dow Jones Indices LLC (“S&P Dow Jones Indices”) and/or its affiliates. Franklin Templeton has contracted with S&P Dow Jones Indices to calculate and maintain the Index. Neither S&P Dow Jones Indices nor any of its affiliates shall be liable for any errors or omissions in calculating the Index.

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