Franklin Resources, Inc. (Franklin Templeton) (NYSE:BEN) today reported preliminary month-end assets under management (AUM) of $1.68 trillion at March 31, 2026, compared to $1.73 trillion at February 28, 2026. This month's decrease in preliminary AUM reflected the negative impact of markets, partially offset by long-term net inflows of $5 billion, inclusive of $1 billion of long-term net outflows at Western Asset Management¹. Excluding Western Asset Management, preliminary long-term net inflows were $6 billion.

For the quarter ended March 31, 2026, preliminary AUM reflected long-term net inflows of $17 billion, inclusive of $4 billion of long-term net outflows at Western Asset Management¹, offset by the negative impact of markets. Excluding Western Asset Management, long-term net inflows were $21 billion. Preliminary average AUM for the quarter was $1.70 trillion.

By Asset Class:
(In USD billions)	Preliminary
	31-Mar-26	28-Feb-26	31-Dec-25	30-Sep-25	31-Mar-25
Equity	$669.6	$722.0	$697.2	$686.2	$598.1
Fixed Income	433.9	444.4	437.7	438.7	446.0
Alternative²	280.0	277.2	273.8	263.9	251.8
Multi-Asset	208.7	210.0	198.8	193.9	175.8
Long Term:	1,592.2	1,653.6	1,607.5	1,582.7	1,471.7
Cash Management	87.8	80.9	76.5	78.5	68.9
Total Ending AUM	$1,680.0	$1,734.5	$1,684.0	$1,661.2	$1,540.6

¹ As of March 31, 2026, Western Asset Management had preliminary AUM of $223 billion, compared to $222 billion at February 28, 2026. This month's preliminary AUM reflected cash management net inflows of $7 billion, partially offset by the negative impact of markets and the aforementioned preliminary long-term net outflows of $1 billion. This quarter's AUM reflected cash management net inflows of $11 billion, partially offset by the aforementioned long-term net outflows of $4 billion and the impact of negative markets.

² Alternative AUM at March 31, 2026, includes $1 billion of aggregate realizations and distributions for the month and $4 billion for the quarter.

About Franklin Templeton

Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients' strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnership, forward-looking insights, and continuous innovation – providing the tools and resources to navigate change and capture opportunity.

Forward-Looking Statements

The financial results in this press release are preliminary. Some of the statements herein may include forward- looking statements that reflect our current views with respect to future events, financial performance and market conditions. Such statements are provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and generally can be identified by words or phrases written in the future tense and/or preceded by words such as "anticipate," "believe," "could," "depends," "estimate," "expect," "intend," "likely," "may," "plan," "potential," "preliminary," "seek," "should," "will," "would," or other - similar words or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements.

Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that may cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements, including market and volatility risks, investment performance and reputational risks, global operational risks, competition and distribution risks, third-party risks, technology and security risks, human capital risks, cash management risks, and legal and regulatory risks. 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 possible 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. 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.

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, 2024 and our subsequent Quarterly Reports on Form 10-Q. If a circumstance occurs after the date of this press release that causes any of our forward- looking statements to be inaccurate, whether as a result of new information, future developments or otherwise, we undertake no obligation to announce publicly the change to our expectations, or to make any revision to our forward-looking statements, to reflect any change in assumptions, beliefs or expectations, or any change in events, conditions or circumstances upon which any forward- looking statement is based, unless required by law.

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Franklin Resources, Inc. (NYSE:BEN)

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Franklin Resources, Inc.

Investor Relations: Selene Oh (650) 312-4091, selene.oh@franklintempleton.com

Media Relations: Jeaneen Terrio (212) 632-4005, jeaneen.terrio@franklintempleton.com

Website: investors.franklinresources.com

Franklin Resources, Inc. Announces Preliminary Month-End Assets Under Management