Crypto industry veterans Christopher Perkins and Seth Ginns to co-lead Franklin Crypto alongside Tony Pecore, strengthening active management capabilities across the multi-trillion dollar digital asset market.

Franklin Templeton, a global investment leader, today announced a plan to acquire 250 Digital, an active cryptocurrency investment management firm led by financial industry veterans Christopher Perkins and Seth Ginns of CoinFund Management LLC. The acquisition would include the 250 Digital investment team and all liquid cryptocurrency strategies previously run by CoinFund. Franklin Templeton will invest in the strategies as part of the agreement.

Following Franklin Templeton's acquisition of 250 Digital, Perkins will head the division and Ginns will serve as Chief Investment Officer, leading the newly formed Franklin Crypto unit alongside Franklin Templeton Digital Assets investment veteran Tony Pecore, bringing together crypto-native expertise with Franklin Templeton's global distribution to target institutional growth. Reporting to Sandy Kaul, Head of Innovation for Franklin Templeton, Franklin Crypto will expand Franklin Templeton's existing suite of crypto and blockchain VC investment offerings and will broaden the firm's digital assets investment management platform. Franklin Templeton Digital Assets manages approximately $1.8 billion in global assets as of December 31, 2025.

"This is an exciting addition for Franklin Templeton, and we're pleased to welcome Chris, Seth and the 250 Digital team to our firm," said Jenny Johnson, CEO of Franklin Templeton. "Together, their investment talent and differentiated strategies strengthen our capabilities in digital assets and position us among a small group of global asset managers with a dedicated, institutional-grade crypto investment management team, enhancing our ability to serve clients worldwide."

"Crypto's institutional moment has arrived, and Franklin Crypto will help our global clients navigate this complex and rapidly evolving asset class by delivering the expertise, knowledge and digital asset products that meet their sophisticated investment needs," said Perkins. "In partnership with Seth, Tony and our teams, we will position Franklin Crypto as the global leader in digital asset management."

"We're thrilled to join Franklin Templeton and work alongside visionary leaders including Jenny and Sandy, who have cemented the firm as an early mover and clear leader in the crypto ecosystem as blockchain technology builders, node operators, thought leaders and active crypto managers," added Ginns. "We share a long-term vision, and with the client-centric culture and distribution strengths of Franklin Templeton, we are well positioned to expand our collective reach and accelerate the growth and adoption of our strategies globally."

The transaction is expected to close in the second calendar quarter of 2026, subject to the execution of definitive transaction agreements, client consents and other customary closing conditions, and will incorporate BENJI tokens as payment consideration, marking an important and innovative step toward conducting M&A transactions on chain. The Franklin OnChain U.S. Government Money Fund (FOBXX), better known as BENJI, launched in 2021 and is the world's first U.S.-registered mutual fund to use blockchain-integrated technology to process transactions and record share ownership.

Franklin Templeton is a pioneer in digital asset investing and blockchain innovation, combining tokenomics research, data science, and technical expertise to deliver cutting-edge solutions since 2018. Learn more at Franklin Templeton Digital Assets.

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.

With more than $1.7 trillion in assets under management as of February 28, 2026, Franklin Templeton operates globally in more than 35 countries.

To learn more, visit franklintempleton.com and follow us on LinkedIn.

Franklin Resources, Inc. (NYSE:BEN)

Forward-Looking Statements

The financial results in this press release are preliminary. Some statements may be forward-looking and reflect our current views about future events, financial performance and market conditions. These statements are provided under the safe harbor protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those not related solely to historical or current facts and can often 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 similar terms, though these are not the only ways such statements may appear.

Various forward-looking statements in this press release relate to the acquisition by Franklin Templeton of 250 Digital, including regarding expected opportunities, operating results, growth, client and stockholder benefits, key assumptions and the timing of closing of the transaction and whether a transaction is consummated at all.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and may cause actual results to differ materially from outcomes expressed or implied by the statements. These factors include 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. Although forward-looking statements reflect our expectations, at the time made, about our business, the economy and possible future conditions, you should not rely on them. They are not guarantees of performance, and new factors may arise that we cannot foresee.

These risks and other important factors are described in our recent filings with the U.S. Securities and Exchange Commission, including 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, 2025 and subsequent Quarterly Reports on Form 10-Q. We undertake no obligation to update any forward-looking statements to reflect new information, future developments or other changes unless required by law.

FOBXX

WHAT ARE THE RISKS?

You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund's sponsor is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress. Although the fund invests in US government obligations, an investment in the fund is neither insured nor guaranteed by the US government.

All investments involve risk, including loss of principal. There are risks associated with the issuance, redemption, transfer, custody, and record keeping of shares maintained and recorded primarily on a blockchain. For example, shares that are issued using blockchain technology would be subject to risks, including the following: blockchain is a rapidly-evolving regulatory landscape, which might result in security, privacy or other regulatory concerns that could require changes to the way transactions in the shares are recorded.

The fund's yield may be affected by changes in interest rates and changes in credit ratings. These and other risks are discussed in the fund's prospectus.

Investors should carefully consider a fund's investment goals, risks, charges and expenses before investing. To obtain a summary prospectus and/or prospectus, which contains this and other information, call (800) 342-5236 or visit franklintempleton.com. Please carefully read a prospectus before investing or sending money.

Franklin Distributors, LLC. Member FINRA/SIPC

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Public Relations:

Rebecca Radosevich (212) 632-3207

rebecca.radosevich@franklintempleton.com

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