Sustainable, Responsible &/or ESG Policy:

Objectives and Investment Policy

FTF Franklin European Unconstrained Fund (the “Fund”) aims to increase in value through investment growth over periods of five years or more after all fees and costs are deducted.
There is no guarantee that the Fund will achieve its objective over this or any other time period. Capital invested is at risk and you may get back less than you paid in.

Core investment

The Fund invests at least 80% of its assets in shares of companies which are domiciled, listed or conduct a significant proportion of their business in European countries (excluding the United Kingdom).
Exposure to these shares will typically be direct (purchasing the relevant shares themselves) but may also be indirect (gaining exposure to the shares through other investments). Indirect investments include:

• Convertible bonds (a type of corporate bond which can be exchanged for shares in the same organisation).
• Depositary receipts (a type of listed security which enables investors to hold shares in foreign companies).
• Other collective investment schemes (which may include collective investment schemes operated by the ACD or any of its associates). The Fund may not invest more than 10% in other collective investment schemes.

Other investments

The Fund may also invest in:

• Shares of other companies;
• Other equity related securities;
• Cash and cash equivalents;
• Money market instruments; and
• Other collective investment schemes.

The Fund can use derivatives for efficient portfolio management (managing the Fund in a way that is designed to reduce risk or costs and/or generate extra income or growth). However, the Fund can introduce more speculative investment use of derivatives in the future on 60 days' notice to investors. Derivatives are financial contracts whose value is linked to the price of another asset (e.g. indices, interest rates, share prices or currencies). The Fund will not take short positions (a technique where investors seek to profit from decreases in value of securities, indices, currencies and/or index rates). Use of derivatives is typically expected to be limited.

Geographic locations (where we invest)

The Fund focuses on investments in Europe (excluding the UK) although up to 20% of the Fund's investments could be in non-European countries.

How we select investments (investment strategy)

The Fund is actively managed, which means that the Investment Manager does not copy a benchmark when selecting investments for the Fund.
The Fund typically invests in shares of around 20-40 companies of any size, industry or market capitalisation although the Investment Manager may invest in fewer or more companies where it considers this to be in the interests of the Fund.
The Fund invests in companies which, in the opinion of the Investment Manager:

• have the potential to generate or sustain a return on invested capital where the return is higher than the cost of capital;
• have the potential to develop an attractive growth profile and/or cash flow generation over the long term; and
• have supportive accounting and environmental, social and governance (ESG) practices.

In assessing potential investments, the Investment Manager evaluates the companies for the above characteristics and assesses a company's value by looking at a wide range of financial and economic factors at the level of the relevant company, its sector and the broader economy (a fundamental approach). The Investment Manager focuses on forecasting a company's potential growth and returns, based on research and due diligence and using the Investment Manager's proprietary research platform. In addition, the Investment Manager seeks to identify specific sectors which it believes have the possibility of generating attractive growth or returns.
The Fund aims to hold investments for the long term, with relatively low portfolio turnover. The Investment Manager may also engage with the management of the companies in which the Fund invests or may invest, to discuss potential sources of value creation.

ESG (environmental, social, and governance) factors

In selecting the Fund's investments, the Investment Manager assesses prospective investments against various ESG factors. These ESG factors are used to inform the Investment Manager's wider assessment of the value and financial attractiveness of each potential investment and exposures are adjusted accordingly. The Investment Manager may exclude investments depending on their assessment of ESG factors. In addition, the Investment Manager applies automatic exclusions for investments in certain sectors or which fail certain international standards. For more detailed information about how the Investment Manager considers ESG, and a list of exclusions, please see the Fund's 'UK SDR: Consumer Facing Disclosures' available at www.franklintempleton.co.uk/CFD_33773 and the investment objective and policy in the prospectus, available at www.franklintempleton.co.uk/ftfdocuments in the "Additional Documents" tab

(Source: KIID, as at January 2026)

SDR Labelling:

Unlabelled - promotes sustainable characteristics (has CFD)

SDR Literature:

• Consumer Facing Disclosure