ClearBridge Appreciation Portfolios

Past performance is no guarantee of future results. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs.

Investors cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges.

Fees: Returns for periods less than one year are not annualized. Pure Gross of fee returns do not reflect the deduction of any expenses, including transaction costs. Net composite returns referenced above represent Pure Gross composite performance of the portfolio reduced by an annual fee of 2.02%, the maximum fee charged by Primerica Advisors to clients invested in the strategy through the Lifetime Investment Platform wrap fee program. The Net of fee composite returns presented in the strategy GIPS Report are calculated by reducing each monthly composite pure gross rate of return by the highest "bundled" fee charged (3.00%) annually, prorated to a monthly ratio. 
Returns reflect the reinvestment of dividends and other earnings. All performance is reported in US dollars. Returns for periods less than one year are not annualized.

For Primerica Lifetime Investment Program accounts, Clearbridge Investments, LLC ("ClearBridge"), through Franklin Templeton Private Portfolio Group, LLC (FTPPG), will provide a model portfolio for the ClearBridge Large Cap Growth investment strategy to PFS Investments, Inc. ("Primerica Advisors"). Clearbridge and FTPPG anticipate that Primerica Advisors will generally follow the model in managing client accounts. However, Primerica Advisors, not Clearbridge or FTPPG, has investment authority and discretion over client accounts on the Lifetime Investment Program. Accounts managed by Primerica Advisors through the Lifetime Investment Platform, utilizing the model will experience performance results different from the performance results of accounts managed by ClearBridge and FTPPG on a discretionary basis outside of the platform due to the fees charged by Primerica Advisors, and due to Primerica Advisors' management of its program and each client's account under the program. 

To obtain specific information on available products and services or a GIPS® Report, contact your Franklin Templeton separately managed account sales team at (800) 822-8464. ClearBridge Investments, LLC claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.