Franklin Bissett Canadian Dividend Fund Effective April 22

Franklin Bissett Canadian Dividend Fund Effective April 22, 2016, Franklin Bissett Canadian High Dividend Fund merged into Franklin Bissett Canadian Dividend Fund. Accordingly, past performance data for the period prior to April 25, 2016, would not be comparative. Franklin Bissett Investment Management, part of Franklin Templeton Investments Canada.

Topics for Discussion Why Franklin Bissett Canadian Equity Fund? A Legacy of Expertise in the Canadian Capital Markets Franklin Bissett Equity Investment Team 3 4 5 Investment Approach A Distinctive Approach to the Growth at a Reasonable Price (GARP) Style Investment Process Absolute, Relative and Risk-Adjusted Return Objectives Strategy Overview Risk Is a Key Aspect of our Performance Objectives ESG Approach 7 8 9 10 11 12 Positioning Key Facts Diversification Across a Range of Established Canadian Companies A Closer Look at the Big Four Sectors Balancing Concentration with Diversification Case Study: Underappreciated Portfolio of High Quality Defensive Assets 14 15 16 17 18 Performance Statistics 20 Our Current Outlook 21 Franklin Bissett’s Value Proposition 22 2

Why Franklin Bissett Canadian Dividend Fund? Consistency in Execution • Investment and organization consistency for over 30 years • Effective investment and risk management at every stage Access to a Deep Bench of Investment Professionals • Premier 20+ member 1 team performs on-the-ground research • Dedicated to the Canadian market and supporting investment advisors Investment Style Purity • Focuses on established Canadian companies with growing dividends • Fundamental equity analysis drives investment decisions 1. Portfolio managers, research analysts and traders from the equity team and the fixed income team. 3

Franklin Bissett Investment Management A Legacy of Expertise in the Canadian Capital Markets • Founded in 1982 and joined Franklin Templeton Investments in 2000 • CAD$18. 98 billion in assets under management as of September 30, 2018 – Equity strategies: CAD$12. 97 billion – Fixed Income strategies: CAD$6. 01 billion Institutional Retail Traditional Institutional (Pensions) Open-End Mutual Funds Insurance Platforms Investment Categories SMA/UMA Fundamental Equity White Label Exchange-Traded Funds Active Quantitative Equity Sub-Advisory High Net Worth Systematic Beta Fixed Income Multi-Asset 4

Franklin Bissett Equity Investment Team Franklin Bissett Canadian Dividend Fund Portfolio Managers Les Stelmach Senior Vice President, Portfolio Manager Ryan Crowther Vice President, Portfolio Manager Investment Team Garey Aitken Chief Investment Officer Tim Caulfield Vice President, Director of Equity Research Les Stelmach Energy Mike Richmond Pipelines, Infrastructure Izabel Flis Materials Ryan Crowther Industrials Jayson Moss Financials Information Technology Telecommunication Services Utilities Real Estate Analyst Coverage Health Care Retailing, Cable, Broadcasting Sub-Group Consumer Staples —Garey Aitken, CFA Chief Investment Officer Franklin Bissett Investment Management Jayson Moss Consumer Discretionary Sector Energy Equipment & Services “Our investors benefit from a time-tested investment process predicated on extensive fundamental research and valuation work. ” Izabel Flis Jayson Moss Tim Caulfield Jayson Moss Izabel Flis Mike Richmond Special Situations Mitchell Mc. Cartney Ralph Lindenblatt Various Sectors Small/Micro Cap Richard Fortin Neil Forster Additional Resources Leveraging the Franklin Templeton Platform Risk Analysis Equity Trading Legal ESG Team Marketing and Distribution 1. Portfolio managers, research analysts and traders from the equity team and the fixed income team. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. 5

Investment Approach

Fundamental Equity Investing at Franklin Bissett A Distinctive Approach to the Growth at a Reasonable Price (GARP) Style Growth and Profitability • Exacting definitions of Growth and Profitability – Growth in intrinsic value per share – Full cycle profitability • Emphasis on strong capital allocation (reinvestment, M&A, buybacks, dividends) • Focus on financially stable businesses Value • Free cash flow derived assessment of intrinsic value • Consistent, unbiased modeling • Handicapping Risk/Reward • Visibility of the long-term business model 7

Investment Process 1 Identify Quality Businesses • Growth in intrinsic value per share • • • Full cycle profitability Financial stability Durable business model Strong capital allocation 2 Assess Valuation • Free cash flow derived assessment of intrinsic value • Visibility of the long term business model 3 Determine Portfolio Suitability • Portfolio concentration and diversification considerations • Strategy requirements (market cap/dividend constraints) Risk & ESG considerations FRANKLIN BISSETT PORTFOLIO INVESTABLE UNIVERSE Risk Monitoring, Portfolio Rebalancing and Sell Discipline The above chart is for illustrative and discussion purposes only. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. 8

Absolute, Relative and Risk-Adjusted Return Objectives RISK-ADJUSTED RETURN OBJECTIVE RISK OBJECTIVES RELATIVE RETURN OBJECTIVE ABSOLUTE RETURN OBJECTIVE • High single-digit to low double-digit annualized returns over longer time periods • Target 200 bps (gross of fees) in annualized excess returns relative to the benchmark • Primary risk objective: To ensure investors are compensated for the risk taken • Strategy dependent, but beta target is typically 0. 8– 0. 9; alpha target is ≥ 300 bps (gross of fees) annualized • Secondary risk objective: To maintain less return volatility than the benchmark 9

Strategy Overview As of September 30, 2018 100% Canadian Securities Les E. Stelmach, CFA Senior Vice President Portfolio Manager Ryan Crowther, CFA Vice President Portfolio Manager Seeking Dividends & Growth • Approximate current yield of 4. 20% vs. S&P/TSX Composite Index current yield of 2. 88%1 Meaningful Mid and Small Cap Coverage • 84. 85% Large Cap (>CAD$7. 53 B) • 10. 47% Mid Cap (>CAD$2. 51 B and <CAD$7. 53 B) • 3. 54% Small Cap (>CAD$0. 83 B and <CAD$2. 51 B) • 1. 13% Micro Cap (<CAD$0. 83 B) Fully Invested • Typical cash exposure is below 5%, currently 1. 21% Annual Portfolio Turnover of 15%– 25% Source: Franklin Templeton Investments. 1. Based on weighted average calculation of expected yields of holdings within the Franklin Bissett Canadian Dividend Fund and S&P/TSX Composite Index. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. 10

Risk Is a Key Aspect of our Performance Objectives Risk Management Integrated Independent and Insightful— Role of Investment Risk Management Group • Risk management is inherent in all aspects of the investment process including security selection, portfolio construction and the sell discipline • Investment risks, including ESG-related factors, are to be recognized and intentional • Risk is to be optimized, not minimized • Consult with portfolio managers • Provide portfolio managers with analytics, including performance attribution, portfolio exposures and ex-ante risk measures 11

ESG Approach Our fundamental equity approach is to ensure that Environmental, Social and Governance (ESG) factors are recognized, analyzed and embedded within our assessment of intrinsic value • Our views on ESG factors impact the assessed risk-adjusted return potential of an investment • Our fundamental research team develops comprehensive insights into the many factors that affect the value of an investment, including ESG factors • Our approach to ESG is not exclusionary; the goal is to assess and properly discount ESG factors 12

Positioning

Key Facts As of September 30, 2018 Inception Date December 22, 2003 Investment Focus Primarily Large and Mid Cap Canadian Equities Asset Category Canadian Dividend & Income Equity AUM CAD$564. 4 million Number of Positions 35– 50 holdings (39) Benchmark S&P/TSX Composite Index 14

Diversification Across a Range of Established Canadian Companies Opportunities from Diverse Market Sectors 1 • Invested across at least 6 of 11 GICS Sectors • Currently invested in 9 of 11 GICS Sectors Financials: 35. 69% Energy: 19. 34% • Toronto-Dominion • • Bank Canadian Imperial Bank of Commerce Power Financial Bank of Nova Scotia Royal Bank of Canada Utilities: 12. 63% Industrials: 7. 13% • • • Communication Services: 8. 06% • Fortis • Capital Power Corporation • Russel Metals • Bird Construction • Wajax Trans. Canada Enbridge Baytex Energy Keyera Mullen Group • Rogers Communications Materials: 5. 31% • Canexus • Labrador • Potash 1. As of September 30, 2018. Holdings are subject to change. Due to rounding, the sum of asset allocation holdings may not equal 100%. Sector holdings also include: Real Estate: 4. 85%, Consumer Discretionary: 2. 31%, Consumer Staples: 3. 45% and Cash: 1. 21%. 15

A Closer Look at the Big Four Sectors As of September 30, 2018 Portfolio % of Total S&P/TSX Composite Index % of Total Difference (in Basis Points) 35. 69% 34. 27% 140 24. 68% 23. 98% 70 Insurance 7. 54% 6. 38% 120 Diversified Financials 3. 47% 3. 91% -40 19. 34% 19. 07% 30 Oil & Gas Storage, Transportation & Other 9. 93% 8. 04% 190 Oil & Gas Exploration & Production 8. 28% 5. 62% 270 Oil & Gas Equipment & Services 1. 12% 0. 45% 70 — 4. 96% -500 7. 13% 10. 69% -360 Transportation 5. 02% 6. 28% -130 Commercial Services & Supplies 1. 12% 1. 62% -50 Capital Goods & Professional Services 0. 99% 2. 79% -180 5. 31% 10. 06% -480 Chemicals 3. 70% 2. 47% 120 Gold & Silver 1. 61% 5. 77% -420 — 1. 82% -180 Financials Banks Energy Integrated Oil & Gas Industrials Materials Other Sources: Franklin Templeton Investments, Fact. Set, Standard & Poor's Financial Services LLC and Toronto Stock Exchange. 16

Top 20 Equity Holdings Balancing Concentration with Diversification As of September 30, 2018 Portfolio Name Top 10 Overweights & Underweights 1 Weight (%) Yield (%) Name Weight (%) Yield (%) IGM Financial +3. 34 6. 38 Royal Bank of Canada 6. 15 3. 64 Canadian Imperial Bank of Commerce +3. 12 4. 39 Canadian Imperial Bank of Commerce 5. 51 4. 39 Power Financial +2. 96 5. 80 Canadian National Railway 5. 02 1. 58 Brookfield Renewable Partners +2. 87 6. 48 Toronto-Dominion Bank 4. 82 3. 33 Canadian Utilities 2 +2. 86 4. 94 Bank of Montreal 4. 13 3. 54 Inter Pipeline +2. 56 7. 53 Bank of Nova Scotia 4. 07 4. 27 Brookfield Property Partners +2. 41 6. 05 Enbridge 3. 72 6. 44 Rogers Communications +2. 26 2. 89 IGM Financial 3. 47 6. 38 Vermilion Energy +2. 19 6. 40 Rogers Communications 3. 32 2. 89 ARC Resources +2. 16 4. 17 Power Financial 3. 28 5. 80 TELUS 3. 09 4. 40 Name Weight (%) Yield (%) Nutrien 3. 04 2. 77 Suncor Energy 2 -3. 62 2. 88 Canadian Utilities 3. 03 4. 94 Canadian Natural Resources 2 -2. 29 3. 08 Inter Pipeline 2. 94 7. 53 2 Brookfield Asset Management -2. 23 1. 35 Brookfield Renewable Partners 2. 87 6. 48 Canadian Pacific Railway 2 -1. 73 0. 91 Brookfield Property Partners 2. 77 6. 05 Toronto-Dominion Bank -1. 57 3. 33 Fortis 2. 61 4. 12 Waste Connections 2 -1. 21 0. 72 Brookfield Infrastructure Partners 2. 60 4. 75 2 Pembina Pipeline -0. 99 5. 06 Vermilion Energy 2. 48 6. 40 National Bank of Canada 2 -0. 97 3. 78 ARC Resources 2. 39 4. 17 Magna International 2 -0. 96 2. 45 Total 71. 32 Sources: Franklin Templeton Investments, Fact. Set, TD Securities and Bloomberg. 2 CGI Group -0. 93 N/A Weighted Average Portfolio Yield 4. 69 1. Overweight and underweight Fund holdings are in comparison to the S&P/TSX Composite Index. Information is historical and may not reflect current or future portfolio characteristics. All portfolio holdings are subject to change. Totals may not equal 100% due to rounding. The information provided is not a recommendation to purchase, sell or hold any particular security. The securities identified do not represent the Fund’s entire holdings and in the aggregate may represent only a small percentage of such holdings. There is no assurance that securities purchased will remain in the Fund or that securities sold will not be purchased. In addition, it should not be assumed that any securities transactions discussed were or will prove to be profitable. The portfolio manager for the Fund reserves the right to withhold release of information with respect to holdings that would otherwise be included in the Top 20 Holdings list. Yield (%) is the projected dividend yield calculated by Bloomberg as the dividends projected over the coming 12 month divided by the current price. 17 2. Asset not held in the portfolio during the period.

Canadian Utilities Limited. (CU) Case Study: Underappreciated Portfolio of High Quality Defensive Assets Company Description: Canadian Utilities is an ATCO Company, and one of Canada’s largest utility providers, operating regulated electric and gas distribution and transmission assets in Alberta and the Canadian North as well as Australia. The company also owns energy infrastructure assets involved in natural gas gathering, processing and storage in Canada, and power generating plants largely in Canada, but also in Australia and Mexico. Rationale for Recent Investment Franklin Bissett Investment Criteria Risk Factors Canadian Utilities’ portfolio of quality longduration, predominantly regulated assets, boasts attractive defensive attributes. The business has been historically managed to a track record of strong operational execution and disciplined capital allocation. Canadian Utilities’ sizeable presence and competitive positioning in Alberta, combined with its healthy financial position and development expertise positions it well to pursue incremental growth opportunities in the province. Profit-Driven Growth • Robust organic capital program • Highly visible cash flow generation • Negative environmental/regulatory Valuation • Meaningful discount to intrinsic value • Favorable risk/reward profile developments given concentrated position in Alberta • Undue influence from its controlling shareholder, ATCO Ltd. Other Positive Attributes • Effective capital allocation • Disciplined capital structure • Favorable track record of consistent dividend increases The case studies shown represent certain examples of the investment managers’ best performing investments and other investments made by the investment manager which were not as successful or that lost money are not shown. The investments may or may not be currently held by funds managed by the investment manager. The case studies are not representative of the overall performance of the funds managed by the investment manager as is demonstrated by those funds’ past performance numbers. Past performance does not guarantee future results and results may differ over future time periods. These case studies are being shown only as examples of what the investment manager is seeking to achieve in managing the fund, but are not necessarily indicative of what has actually been achieved with all of the investments or will be achieved going forward. This is not a complete analysis of every material fact regarding an industry, security or investment and should not be viewed as an investment recommendation. The actions taken with respect to these investments, and their performance, may not be representative of other advice or investments. Factual statements are taken from sources considered reliable, but have not been independently verified for completeness or accuracy by the fund’s manager or its affiliates. These opinions may not be relied upon as investment advice or an offer for a particular security or as an indication of trading intent for any fund. 18

Performance

Performance Statistics (Net of Fees) Cumulative Returns (%) As of September 30, 2018 9. 61 5. 51 5. 31 6. 16 -0. 62 -0. 95 -0. 89 1 Month 0. 34 1. 02 5. 87 6. 00 6. 12 7. 52 8. 04 7. 62 4. 17 1. 54 -0. 57 3 Months 6 Months Franklin Bissett Canadian Dividend Fund – Series F 1 Year 2 Year Since Inception¹ Canadian Dividend & Income Equity Category Sources: Franklin Templeton Investments and Morningstar Research Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As a consequence, the management fee on Series F is lower than on Series A. The gross of fees version of Series F does not exist and as a result, investors cannot purchase Series F securities on a gross of fees basis. Performance would have been lower with fees taken into account. 1. Inception date is December 22, 2003. Effective April 22, 2016, Franklin Bissett Canadian High Dividend Fund merged into Franklin Bissett Canadian Dividend Fund ("the fund"). Accordingly, past performance data for the period prior to April 25, 2016, would not be comparative. 20

Our Current Outlook As of September 30, 2018 • During the third quarter of 2018, the S&P/TSX Composite Total Return Index (TRI) declined 0. 6% • Although market volatility was subdued in the third quarter, divergent performance between the cyclical components of the marketplace versus more defensive sectors continued • While the current interest rate environment remains constructive for equities, Canadian economic growth has remained subdued, although there were signs of a pickup in activity in the third quarter • Ongoing dislocations within the Canadian equity market have provided opportunities to both buy on weakness and sell on strength • A change in the trajectory of interest rates has, without a doubt, cast its shadow over market valuations in certain sectors • We see good opportunities for dividend investing in Canada and have a positive view on prospective portfolio returns for the fund • We continue to view the fund as well situated, offering an attractive long-term return profile which we expect will be driven by both capital appreciation and dividends over time The information is not a complete analysis of every aspect of any market, country, industry, security or portfolio. Statements of fact are from sources considered to be reliable, but no representation or warranty is made as to their completeness or accuracy. Because market and economic conditions are subject to rapid change, opinions provided are valid only as of the date indicated. The views expressed may not be relied upon as investment advice and are not share class specific. 21

Franklin Bissett’s Value Proposition Clear and ambitious performance objectives Established longterm track record Robust framework to exploit enduring market inefficiencies 22

Appendix

Reap the Benefits of Dividends: Favourable Tax Treatment Keep More After-Tax Income 1 OPTIONAL SLIDE After-Tax Value of $100 As of January 1, 2018 Keep 32% More $76. 57 Keep 32% More $71. 32 $58. 00 Alberta Keep 31% More $68. 33 $54. 20 British Columbia Eligible Dividend Income Keep 29% More $64. 78 $52. 03 Ontario $50. 03 Quebec Interest Income 1. Source: Taxtips 2018 for Alberta, British Columbia, Ontario and Quebec. Data is based on 2018 marginal tax rates for the taxable income brackets of approximately CAD$150, 000–CAD$200, 000. 24

Franklin Bissett Equity Group: Years of Experience and Responsibilities Name Garey Aitken, CFA, MBA Industry Since Firm Since Responsibilities 1993 February 1998 Chief Investment Officer Portfolio Management: Canadian Equity Strategies 1999 January 2007 Portfolio Management: Canadian Equity Strategies Research: Financials 1999 January 2006 Portfolio Management: Dividend Strategies Research: Energy 2002 February 2008 Portfolio Management: Dividend Strategies Research: Materials 1998 January 2001 Portfolio Management: Small/Micro Cap Strategies Research: Small/Micro Cap strategies across all sectors 1996 January 2009 Portfolio Management: Small/Micro Cap Strategies Research: Small/Micro Cap strategies across all sectors 1997 November 1997 Portfolio Management: Quantitative Strategies 1995 May 2007 Communication of FBIM process, philosophy and strategies to internal and external constituencies 2001 January 2001 Portfolio Management: Quantitative Strategies Research: Pipelines and Infrastructure, Retailing, Cable, Broadcasting, Consumer Staples, Telecommunication Services, Utilities 2004 November 2011 Research: Consumer Discretionary, Industrials, Health Care, Information Technology 2001 August 2013 Research: Energy Equipment and Services, Special Situations, Real Estate 2006 March 2014 Research: Small/Micro Cap strategies across all sectors 2011 May 2011 Special Situations 2000 November 2000 Investment Operations 2017 June 2017 Investment Operations 2000 February 2000 Support Portfolio Management Team Chief Investment Officer Tim Caulfield, CFA VP, Director of Equity Research Les Stelmach, CFA SVP, Portfolio Manager Ryan Crowther, CFA VP, Portfolio Manager Ralph Lindenblatt, CFA SVP, Portfolio Manager Richard Fortin, CFA VP, Portfolio Manager Jason Hornett, CFA VP, Portfolio Manager Andrew Buntain, CFA VP, Institutional Portfolio Manager Izabel Flis, CFA VP, Portfolio Manager Jayson Moss, CFA Research Analyst Mike Richmond, CFA Research Analyst Neil Forster, CFA, MBA Research Analyst Mitchell Mc. Cartney, CFA Research Analyst Chris Lankester Investment Operations Analyst Dino Kurbegovic Portfolio Assistant Shelly Wilson Executive Assistant CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. 25

Biography LES E. STELMACH, CFA Senior Vice President, Portfolio Manager Franklin Bissett Investment Management Calgary, Alberta, Canada Les Stelmach is a senior vice president and portfolio manager at Franklin Bissett Investment Management, part of Franklin Templeton Investments Canada. He is co-manager of Franklin Bissett Energy Corporate Class (2011), Franklin Bissett Canadian Dividend Fund (2012) and Franklin Bissett Dividend Income Fund (2012). Mr. Stelmach's analyst responsibilities include coverage of the energy sector. Past duties have included responsibility for research coverage for various high yield equity securities, including equities within the healthcare, industrial, and utility sectors. In 2006, Mr. Stelmach joined Franklin Bissett as an income trust analyst. In 2009 he was named vice president and portfolio manager. Prior to joining Franklin Bissett, Mr. Stelmach was employed by BMO Nesbitt Burns (now BMO Capital Markets) for six years, most recently as a vice president and research analyst specializing in the royalty and income trust sector. Mr. Stelmach holds a bachelor of commerce degree in finance, with distinction, from the University of Alberta. He is a Chartered Financial Analyst (CFA) charterholder. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. 26

Biography RYAN CROWTHER, CFA Vice President, Portfolio Manager Franklin Bissett Investment Management Calgary, Alberta, Canada Ryan Crowther is a vice president, portfolio manager at Franklin Bissett Investment Management and has been with the organization since 2008. Mr. Crowther shares co-lead manager responsibilities of the Franklin Bissett Canadian Dividend Strategies (2011), including Franklin Bissett Dividend Income Fund (2011) and Franklin Bissett Canadian Dividend Fund (2011). Mr. Crowther's analyst responsibilities include coverage of the materials sector. Mr. Crowther joined Franklin Bissett in 2008 as an equity analyst and was appointed to his current position in June 2011. His previous research responsibilities have included equity research coverage for the materials, energy infrastructure, utilities and retail sectors. Prior to joining Franklin Bissett, Mr. Crowther was a research associate and analyst at an investment boutique from 2002 to 2007, with coverage of companies in the industrials and materials sectors, among others. From 1999 to 2002, Mr. Crowther played a business development role in a Vancouver-based internet services provider, and was a founding partner of a domain registration company. Mr. Crowther holds a bachelor of commerce from the University of British Columbia. He is a Chartered Financial Analyst (CFA) charterholder. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. 27

Important Disclosures The information presented herein is considered reliable at the present time, however, we do not represent that it is accurate or complete, or that it should be relied upon as such. Speculation or stated beliefs about future events, such as market or economic conditions, company or security performance, upcoming product offerings or other projections represent the beliefs of the speaker and do not necessarily represent the views of Franklin Templeton Investments. General business, market, economic and political conditions could cause actual results to differ materially. The information presented is not a recommendation or solicitation to buy or sell any securities. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus or fund facts document before investing. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Series F is available to investors participating in programs that do not require Franklin Templeton to incur distribution costs in the form of trailing commissions to dealers. As a consequence, the management fee on Series F is lower than on Series A. The gross of fees version of Series F does not exist and as a result, investors cannot purchase Series F securities on a gross of fees basis. Performance would have been lower with fees taken into account. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. © 2018 Franklin Templeton Investments Corp. All rights reserved. Franklin Templeton Investments Canada is a business name used by Franklin Templeton Investments Corp. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. STANDARD & POOR’S®, S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC. Standard & Poor’s does not sponsor, endorse, sell or promote any S&P index-based product. 28

Franklin Templeton Investments Gain From Our Perspective® Franklin Templeton Investments is a global leader in investment management with clients in over 170 countries. Here in Canada and abroad, we're dedicated to one goal: delivering exceptional asset management for our clients. At the core of our success are multiple independent investment teams—each with a focused area of expertise—from traditional to active quant, alternative strategies, multi-asset solutions and Active and Strategic Beta ETFs. All of these teams share a common commitment to excellence grounded in rigorous, fundamental research and robust, disciplined risk management. We combine our expertise in Canada with extensive global resources, and a focus on excellence. As a result, we've become a trusted partner to generations of advisors and investors. Franklin Templeton Investments Canada 200 King Street West, Suite 1500, Toronto, Ontario, M 5 H 3 T 4 Client Services Toll-free: 1. 800. 387. 0830 Fax: 416. 364. 1163 Sales Team Toll-free: 1. 800. 897. 7286 Fax: 416. 364. 1320 Founding Member of The Canadian Coalition for Good Governance Canadian offices: CALGARY • MONTREAL • TORONTO U. S. offices: FT. LAUDERDALE • FORT LEE • LOS ANGELES • MIAMI • NEW YORK CITY • NORWALK • RANCHO CORDOVA SALT LAKE CITY • SAN MATEO • SHORT HILLS • ST. PETERSBURG • WASHINGTON D. C. • WILMINGTON International offices: ABU DHABI • AMSTERDAM • BEIJING • BRUSSELS • BUENOS AIRES • CAPE TOWN • CARACAS • CHENNAI DUBAI • DUBLIN • EDINBURGH • FRANKFURT • GENEVA • HONG KONG • HYDERABAD • ISTANBUL • LONDON LUXEMBOURG • MADRID • MELBOURNE • MEXICO CITY • MILAN • MUMBAI • NASSAU • PARIS • POZNAN RIO DE JANEIRO • SAO PAULO • SEOUL • SHANGHAI • SINGAPORE • STOCKHOLM • SYDNEY • TAIPEI TOKYO • VIENNA • WARSAW • ZURICH NYSE: BEN © 2018 Franklin Templeton Investments Corp. All rights reserved. 4876_CAN_CAD_RETAIL_SERIES F