Franklin Resources, Inc. Announces Pricing of Notes Offering

Franklin Resources, Inc. (the “Company”) (NYSE: BEN) today announced the pricing of its public offering of $350 million aggregate principal amount of its 2.950% Notes due 2051 (the “2051 Notes”) at an issue price of 99.368% and an additional $100 million aggregate principal amount of its 1.600% Notes due 2030 (the “2030 Notes” and, together with the 2051 Notes, the “Notes”) at an issue price of 97.751% of principal amount plus accrued interest from and including April 30, 2021 to but excluding August 12, 2021. The offering is expected to close on August 12, 2021, subject to customary closing conditions. BofA Securities, Inc., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. are acting as representatives of the several underwriters for the offering. Upon issuance, the 2030 Notes will constitute a further issuance of the Company’s 1.600% Notes due 2030, of which $750 million was issued on October 19, 2020.

The offering is being made pursuant to an effective registration statement filed by Franklin Resources, Inc. with the Securities and Exchange Commission on October 6, 2020.

The Company intends to use the net proceeds from the offering for general corporate purposes, which may include, without limitation, redeeming, satisfying and discharging, defeasing or otherwise repaying or retiring any long-term debt of the Company or its subsidiaries, including all or a portion of the $300 million aggregate principal amount of the Company’s 2.800% notes due 2022 and/or the $250 million aggregate principal amount of Legg Mason’s 3.950% senior notes due 2024. The foregoing does not constitute a notice of redemption for or an obligation to issue a notice of redemption for any outstanding notes.

The offering of the Notes may be made only by means of a prospectus supplement and accompanying base prospectus related to the offering, copies of which may be obtained by calling BofA Securities, Inc. at 1-800-294-1322, Citigroup Global Markets Inc. at 1-800-831-9146 or HSBC Securities (USA) Inc. at 1-866-811-8049. Electronic copies of these documents may be obtained free of charge on the website of the Securities and Exchange Commission at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Franklin Templeton

Franklin Resources, Inc. (NYSE:BEN) is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the Company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has over 70 years of investment experience and more than $1.5 trillion in assets under management as of June 30, 2021. The Company posts information that may be significant for investors in the Investor Relations and News Center sections of its website, and encourages investors to consult those sections regularly. For more information, please visit the Investor Relations section of our website.

Forward-Looking Statements

Statements in this press release regarding Franklin Resources, Inc. and its subsidiaries, which are not historical facts, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, words or phrases generally written in the future tense and/or preceded by words such as “will,” “may,” “could,” “expect,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “estimate,” “preliminary” or other similar words are forward-looking statements.

Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, that could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. While forward-looking statements are our best prediction at the time that they are made, you should not rely on them and are cautioned against doing so. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. They are neither statements of historical fact nor guarantees or assurances of future performance.

These and other risks, uncertainties and other important factors are described in more detail in our recent filings with the U.S. Securities and Exchange Commission, including, without limitation, in Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended September 30, 2020 and our subsequent Quarterly Reports on Form 10-Q.

Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

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