FTIF - Franklin Natural Resources Fund July 31, 2018

FTIF - Franklin Natural July 31, 2018 Resources Fund

Portfolio Holdings

The following portfolio data for the Franklin Templeton funds is made available to the public under our Portfolio Holdings Release Policy and is "as of" the date indicated.

This portfolio data should not be relied upon as a complete listing of a fund's holdings (or of a fund's top holdings) as information on particular holdings may be withheld if it is in the fund's interest to do so. Additionally, foreign currency forwards are not included in the portfolio data. Instead, the net market value of all currency forward contracts is included in cash and other net assets of the fund. Further, portfolio holdings data of over-the-counter derivative investments such as Credit Default Swaps, Interest Rate Swaps or other Swap contracts list only the name of counterparty to the derivative contract, not the details of the derivative. Complete portfolio data can be found in the semi- and annual financial statements of the fund.

Security Security Shares/ Market % of Coupon Maturity Identifier Name Positions Held Value TNA Rate Date

2009823 AGNICO EAGLE MINES LTD 54,900 $2,300,161 0.68% N/A N/A

011532108 ALAMOS GOLD INC 481,800 $2,614,935 0.77% N/A N/A

012653101 ALBEMARLE CORP 27,900 $2,628,180 0.77% N/A N/A

013872106 ALCOA CORP 28,000 $1,211,560 0.36% N/A N/A

032511107 ANADARKO PETROLEUM CORP 102,666 $7,510,017 2.21% N/A N/A

B1XZS82 ANGLO AMERICAN PLC 78,300 $1,781,319 0.53% N/A N/A

0045614 ANTOFAGASTA PLC 369,900 $4,870,986 1.44% N/A N/A

11777Q209 B2GOLD CORP 1,145,482 $2,853,137 0.84% N/A N/A

05722G100 BAKER HUGHES A GE CO LLC 122,948 $4,251,541 1.25% N/A N/A

067901108 BARRICK GOLD CORP 171,250 $1,916,287 0.56% N/A N/A

5086577 BASF SE 22,700 $2,181,341 0.64% N/A N/A

05545E209 BHP BILLITON PLC 188,910 $8,738,976 2.58% N/A N/A

127097103 CABOT OIL & GAS CORP 408,600 $9,602,100 2.83% N/A N/A

B74CDH8 CAIRN ENERGY PLC 1,001,100 $3,209,628 0.95% N/A N/A

13123X102 CALLON PETROLEUM CO 485,400 $5,222,904 1.54% N/A N/A

2171573 CANADIAN NATURAL RESOURCES LTD 140,518 $5,163,561 1.52% N/A N/A

151290889 CEMEX SAB DE CV 239,600 $1,785,020 0.53% N/A N/A

166764100 CHEVRON CORP 69,000 $8,712,630 2.57% N/A N/A

12674R100 C&J ENERGY SERVICES INC 105,000 $2,442,300 0.72% N/A N/A

20605P101 CONCHO RESOURCES INC 44,920 $6,551,582 1.93% N/A N/A

20825C104 CONOCOPHILLIPS 60,200 $4,344,634 1.28% N/A N/A

25278X109 DIAMONDBACK ENERGY INC 57,000 $7,521,150 2.22% N/A N/A

26078J100 DOWDUPONT INC 28,200 $1,939,314 0.57% N/A N/A

262037104 DRIL-QUIP INC 29,460 $1,518,663 0.45% N/A N/A

29250N105 ENBRIDGE INC 144,209 $5,109,324 1.51% N/A N/A

B4VLR19 ENSCO PLC 162,633 $1,208,363 0.36% N/A N/A

26875P101 EOG RESOURCES INC 47,700 $6,150,438 1.81% N/A N/A

26884L109 EQT CORP 150,400 $7,471,872 2.20% N/A N/A franklintempleton.com 1 FTIF - Franklin Natural Resources Fund July 31, 2018

Security Security Shares/ Market % of Coupon Maturity Identifier Name Positions Held Value TNA Rate Date

30231G102 EXXON MOBIL CORP 156,900 $12,788,919 3.77% N/A N/A

2347608 FIRST QUANTUM MINERALS LTD 173,100 $2,700,029 0.80% N/A N/A

35671D857 FREEPORT-MCMORAN INC 208,800 $3,445,200 1.02% N/A N/A

B4T3BW6 GLENCORE PLC 1,373,132 $6,030,316 1.78% N/A N/A

380956409 GOLDCORP INC 157,000 $1,962,500 0.58% N/A N/A

403530108 GUYANA GOLDFIELDS INC 553,300 $1,701,414 0.50% N/A N/A

406216101 HALLIBURTON CO 228,011 $9,672,226 2.85% N/A N/A

42809H107 HESS CORP 79,660 $5,228,085 1.54% N/A N/A

436106108 HOLLYFRONTIER CORP 25,500 $1,901,790 0.56% N/A N/A

443628102 HUDBAY MINERALS INC 158,800 $826,472 0.24% N/A N/A

0447889 HUNTING PLC 79,700 $818,270 0.24% N/A N/A

2878937 IMPERIAL METALS CORP 213,300 $213,168 0.06% N/A N/A

47009K107 JAGGED PEAK ENERGY INC 447,600 $6,400,680 1.89% N/A N/A

49456B101 KINDER MORGAN INC 363,100 $6,455,918 1.90% N/A N/A

53115L104 LIBERTY OILFIELD SERVICES INC 134,200 $2,630,320 0.78% N/A N/A

2866857 LUNDIN MINING CORP 296,700 $1,642,250 0.48% N/A N/A

56155L108 MAMMOTH ENERGY SERVICES INC 44,584 $1,659,416 0.49% N/A N/A

56585A102 MARATHON PETROLEUM CORP 40,600 $3,281,698 0.97% N/A N/A

B14X0Q7 NAUTILUS MINERALS INC 1,980,698 $213,174 0.06% N/A N/A

6637101 NEWCREST MINING LTD 98,497 $1,583,273 0.47% N/A N/A

BF02YN1 NEXA RESOURCES SA 127,700 $1,712,457 0.50% N/A N/A

65441V101 NINE ENERGY SERVICE INC 72,170 $2,108,085 0.62% N/A N/A

655044105 NOBLE ENERGY INC 241,000 $8,697,690 2.56% N/A N/A

67077M108 NUTRIEN LTD 22,600 $1,225,146 0.36% N/A N/A

674599105 OCCIDENTAL PETROLEUM CORP 99,480 $8,349,356 2.46% N/A N/A

675222103 OCEANAGOLD CORP 404,634 $1,244,261 0.37% N/A N/A

675232102 OCEANEERING INTERNATIONAL INC 96,820 $2,648,995 0.78% N/A N/A

678026105 OIL STATES INTERNATIONAL INC 99,160 $3,460,684 1.02% N/A N/A

682680103 ONEOK INC 47,200 $3,324,768 0.98% N/A N/A

695156109 PACKAGING CORP OF AMERICA 13,000 $1,467,700 0.43% N/A N/A

703481101 PATTERSON-UTI ENERGY INC 316,400 $5,442,080 1.60% N/A N/A

71654V408 PETROLEO BRASILEIRO SA 70,100 $822,273 0.24% N/A N/A

718546104 PHILLIPS 66 26,005 $3,207,456 0.95% N/A N/A

723664108 PIONEER ENERGY SERVICES CORP 460,799 $1,520,636 0.45% N/A N/A

723787107 PIONEER NATURAL RESOURCES CO 27,800 $5,261,706 1.55% N/A N/A

752344309 RANDGOLD RESOURCES LTD 3,900 $288,015 0.08% N/A N/A

75282U104 RANGER ENERGY SERVICES INC 152,230 $1,469,019 0.43% N/A N/A

76116A306 RESOLUTE ENERGY CORP 158,700 $4,878,438 1.44% N/A N/A

76680V108 RING ENERGY INC 106,900 $1,321,284 0.39% N/A N/A

767204100 RIO TINTO PLC 62,800 $3,485,400 1.03% N/A N/A

franklintempleton.com 2 FTIF - Franklin Natural Resources Fund July 31, 2018

Security Security Shares/ Market % of Coupon Maturity Identifier Name Positions Held Value TNA Rate Date

B840261 ROWAN COS PLC 107,180 $1,551,966 0.46% N/A N/A

B03MM62 ROYAL DUTCH SHELL PLC 122,067 $8,345,720 2.46% N/A N/A

749660106 RPC INC 176,000 $2,604,800 0.77% N/A N/A

79970Y402 SANCHEZ ENERGY CORP 41,800 $632,112 0.19% N/A 12/31/49

79970Y600 SANCHEZ ENERGY CORP 30,000 $535,200 0.16% N/A 12/31/49

6739739 SANDFIRE RESOURCES NL 374,696 $2,055,000 0.61% N/A N/A

806857108 SCHLUMBERGER LTD 201,608 $13,612,572 4.01% N/A N/A

BWSW5D9 SOUTH32 LTD 709,400 $1,882,070 0.55% N/A N/A

B3NB1P2 SUNCOR ENERGY INC 123,700 $5,209,321 1.54% N/A N/A

868157108 SUPERIOR ENERGY SERVICES INC 621,780 $6,118,315 1.80% N/A N/A

873868103 TAHOE RESOURCES INC 294,700 $1,323,068 0.39% N/A N/A

87612G101 TARGA RESOURCES CORP 112,200 $5,730,054 1.69% N/A N/A

BDSFG98 TECHNIPFMC PLC 276,240 $8,991,612 2.65% N/A N/A

878742204 TECK RESOURCES LTD 151,200 $3,935,736 1.16% N/A N/A

969457100 THE WILLIAMS COS INC 94,100 $2,799,475 0.83% N/A N/A

89151E109 TOTAL SA 55,182 $3,600,625 1.06% N/A N/A

89353D107 TRANSCANADA CORP 46,500 $2,090,175 0.62% N/A N/A

BF44466 UMICORE SA 20,700 $1,210,535 0.36% N/A N/A

91336L107 UNIVAR INC 49,800 $1,369,002 0.40% N/A N/A

91913Y100 VALERO ENERGY CORP 23,900 $2,828,565 0.83% N/A N/A

G48833100 WEATHERFORD INTERNATIONAL PLC 335,400 $1,137,006 0.34% N/A N/A

franklintempleton.com 3 FTIF - Franklin Natural Resources Fund July 31, 2018

Important Information

• This report is provided by Franklin Templeton Investments (Asia) Limited (the “FTIA”). This report is intended to be of general information and interest only and does not constitute legal or tax or investment advice nor is it an offer or invitation or solicitation to purchase shares of the Franklin Templeton Investment Funds (the “Fund”).

• Information and data provided at the publication date of this report are subject to change without prior notice especially given the rapidly changing market environment.

• This webpage is intended for Hong Kong residents ONLY and is expressly not intended for residents of the United States. Therefore, certain of the sub-funds of the Fund listed in this webpage may not be registered or available for distribution in the home country of those visitors who have been redirected to this webpage from another non-Hong Kong website. If you are not a Hong Kong resident, please revert to your original or home-country Franklin Templeton website for assistance regarding the products and services legally available in your place of residence.

• Applications for shares of the Fund may only be made on forms of application available with the Hong Kong Explanatory Memorandum of the Fund. Investments in the Fund are subject to investment risks, the value of the Fund may go up as well as down and past performance is not indicative of future performance.

• The investment returns of the Fund as provided in this report are denominated in the base currency of the relevant sub-funds of the Fund. Investors investing in a sub-fund denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of the principal invested.

• Where a sub-fund invests in emerging markets or derivatives, these investments can be more volatile and involve higher risk than an investment in developed markets or conventional securities. Investors should read the Hong Kong Explanatory Memorandum for further details of the relevant risk factors relating to such investments.

• The report has not been reviewed by the Securities and Futures Commission of Hong Kong. If you are in any doubt about any of the contents of this report, you should obtain independent professional advice.

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