FRANKLIN RESOURCES, INC. (FRANKLIN TEMPLETON) AND AFFILIATES

Issues related to crypto & digital assets including 1) digital assets market structure initiatives such as H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act and Senate companion drafts such as S. 4356, the Responsible Financial Innovation Act (RFIA) and S. 3755, the Digital Commodity Intermediaries Act and 2) Stablecoins legislation clarification including S. 919, Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the GENIUS Act) Various reconciliation issues in H.R.1, the One Big Beautiful Bill Act, including section 899 and implementation of Trump accounts. Treasury meetings (Feb & March 2026) about Trump accounts. Protecting closed end funds from activist investors and enhancing retail investor access to alternative investments & private markets - H.R. 3383, the Increasing Investor Opportunities Act. Capital formation initiatives included in H.R. 3383, the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act. Promoting inclusion of alternative investments in retirement plans, including H.R. 2544 & S. 1222, the Financial Freedom Act and H.R. 5748, the Retirement Investment Choice Act which codifies President Trumps executive order (14330) on alternative investments in 401(k)s. Accredited investor reform initiatives including H.R. 3348, the Accredited Investor Definition Review Act, H.R. 3339, the Equal Opportunity for All Investors Act, and H.R. 3394, the Fair Investment Opportunities for Professional Experts Act. Clarifications about restrictions on outbound investments to China included in the National Defense Authorization Act (NDAA) S. 1071 including the COINS Act, the Comprehensive Outbound Investment National Security Act of 2025 Business Development Company issues including H.R. 2225 - the Access to Small Business Investor Capital Act. E-delivery initiatives including H.R. 2441 & S 1877, the Improving Disclosure for Investors Act. Retirement security initiatives, including S. 424 and H.R. 1013, the Retirement Fairness for Charities and Educational Institutions. Retirement savings initiatives including promoting tax deferral for individuals participating in voluntary, employer provided retirement plans and IRAs and H.R. 2696 and S. 1526, the Retirement Savings for Americans Act (RSAA) that would create a federal retirement system. ERISA litigation reform efforts such as H. R. 6084, the ERISA Litigation Reform Act. Congressional oversight of ESG investing including proxy voting by asset managers and various legislative initiatives. H.R. 3682 and S. 3578, the Financial Stability Oversight Council (FSOC) Improvement Act which reforms the Financial Stability Oversight Councils non- bank Systematically Important Financial Institution (SIFI) designation process. Met with Treasury about FSOC reworking guidance and supporting congressional legislation such as the FSOC Improvement Act.