Proxy Voting

Franklin Templeton Investments is pleased to provide the proxy voting policies and procedures of its U.S. registered Investment Managers, as well as the proxy voting records of its mutual funds. With years of experience, Franklin Templeton’s Investment Managers understand that their proxy voting decisions may affect the value of shareholdings. Each Investment Manager is committed to fulfilling their fiduciary duty to vote proxies in the best interests of their shareholders. The proxy voting policies and procedures serve as a guideline for proxy voting decisions and detail the process by which such decisions are made.