FRANKLIN RESOURCES Business Summary

Franklin Resources, Inc., operating as Franklin Templeton, is a global investment management firm that generates revenue primarily through investment management fees based on assets under management (AUM), supplemented by sales, distribution, and shareholder servicing fees. The company utilizes a multi-boutique operational model, providing specialized investment services across three core segments: Investment Management (covering equity, fixed income, and multi-asset solutions), Alternatives (including private credit, real estate, and secondaries), and Wealth Management. As of early 2026, the firm manages approximately $1.68 trillion in AUM, bolstered by the strategic integration of Putnam Investments and the October 2025 acquisition of Apera Asset Management. Its primary competitors include BlackRock, T. Rowe Price, and Invesco; Franklin Resources distinguishes itself by balancing massive global scale with a specialized focus on active management and a rapidly expanding private markets platform. The company was founded in 1947 by Rupert H. Johnson Sr. and maintains a strong legacy of family leadership. Jennifer M. Johnson serves as President and Chief Executive Officer, leading the firm’s strategic pivot toward digital assets and alternative investments, while her brother, Gregory E. Johnson, serves as Executive Chairman. The senior leadership team includes Matthew Nicholls, who serves as Co-President, Chief Financial Officer, and Chief Operating Officer, alongside Co-Presidents Terrence J. Murphy (Head of Public Markets) and Daniel Gamba (Chief Commercial Officer). The Board of Directors features prominent industry figures, including Lead Independent Director Mariann Byerwalter, SoFi CEO Anthony J. Noto, and Redpoint Ventures founding partner Geoffrey Y. Yang. This leadership structure combines deep-rooted institutional knowledge with external expertise in fintech and venture capital to navigate the evolving global financial landscape.