FTF Franklin Limited Duration Income Trust

Important Information

Footnotes

1. Net Asset Value (NAV) represents the value of a closed-end fund's underlying holdings per share. NAV is determined by dividing the total net assets of the fund by the number of shares outstanding. The fund calculates the NAV per share each business day normally coinciding with the close of trading on the New York Stock Exchange (NYSE).

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2. Market Price, determined by supply and demand, is the price an investor purchases or sells the fund. The Market Price shown reflects the last trade on the listing exchange at the time that the fund's NAV is calculated.

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3. Premium / Discount reflects the difference between the NAV and the Market Price of the fund, and represents the amount that the fund is trading above or below its NAV, expressed as a percentage of the NAV. 

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4. ©2026 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.

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5. Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.

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6. Net Expense Ratio represents the expense ratio applicable to investors. 

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7. Based on the Fund’s net assets of the common shares, as of the most recent Annual Report. See the fund’s Annual Report for information on the fund’s expenses.

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8. Effective January 1, 2024, the fund changed its benchmark to the Blended 1/3 ICE BofA US High Yield Constrained + 1/3 Morningstar LSTA US Leveraged Loan + 1/3 Bloomberg MBS Index.

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9. With Waiver means the performance quote reflects any applicable expense reductions and fee waivers.

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10. During periods of rising inflation, fund yields can vary significantly from month-to-month and may not be repeated.

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11. 30-Day SEC Yield is calculated using the net income (interest and dividends) per share earned over a trailing 30-day period (annualized), divided by the fund’s share price at the end of that period. It may not equal the fund’s actual income distribution rate, which reflects the fund’s past dividends paid to shareholders.

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12. Yield to Maturity is calculated without the deduction of fees and expenses.

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13. Yield figures quoted should not be used as an indication of the income that has or will be received. Yield figures are based on the portfolio's underlying holdings and do not represent a payout of the portfolio.

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14. Yield to Worst is calculated without the deduction of fees and expenses. 

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15. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics. ©2025 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.

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