FTIF - Templeton European Opportunities Fund August 31, 2021

FTIF - Templeton European August 31, 2021 Opportunities 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

BNTJ354 ALLFUNDS GROUP LTD 250,000 €3,816,930 2.57% N/A N/A

BM677T6 APPLUS SERVICES SA 600,000 €4,953,000 3.34% N/A N/A

0989529 ASTRAZENECA PLC 47,500 €4,704,505 3.17% N/A N/A

BD8DR11 BIFFA PLC 1,200,000 €5,463,336 3.68% N/A N/A

0286941 PLC 300,000 €5,327,102 3.59% N/A N/A

B4YZN32 PLC 10,500,000 €9,328,542 6.28% N/A N/A

4067164 DASSAULT AVIATION SA 9,000 €8,605,262 5.79% N/A N/A

4942904 E.ON SE 500,000 €5,586,937 3.76% N/A N/A

B281L72 FAGRON 225,000 €3,991,085 2.69% N/A N/A

B7VQL46 FNAC DARTY SA 40,000 €2,307,884 1.55% N/A N/A

BYXJC27 1,500,000 €4,185,194 2.82% N/A N/A

B94G471 ICON PLC 25,000 €5,415,643 3.65% N/A N/A

0454492 IMPERIAL BRANDS PLC 400,000 €7,184,219 4.84% N/A N/A

BYQ7HZ6 JUST EAT TAKEAWAY.COM NV 60,000 €4,604,175 3.10% N/A N/A

BYMT0J1 LIVANOVA PLC 100,000 €7,003,472 4.72% N/A N/A

F62379114 METROPOLE TELEVISION SA 125,000 €2,252,500 1.52% N/A N/A

B02QND9 PAYPOINT PLC 662,228 €5,467,058 3.68% N/A N/A

BJDS7L3 PROSUS NV 72,500 €5,434,996 3.66% N/A N/A

0214834 PLC 203,800 €4,853,241 3.27% N/A N/A

BD6FXN3 RED ELECTRICA CORP SA 150,000 €2,533,583 1.71% N/A N/A

B63H849 ROLLS-ROYCE HOLDINGS PLC 3,000,000 €4,006,856 2.70% N/A N/A

B8C3BL0 SAGE GROUP PLC/THE 750,000 €6,486,927 4.37% N/A N/A

B156T57 SBM OFFSHORE NV 550,000 €8,477,402 5.71% N/A N/A

B12DGD8 SFC ENERGY AG 140,000 €3,841,750 2.59% N/A N/A

0922320 SMITH & NEPHEW PLC 230,000 €3,730,089 2.51% N/A N/A

B1RR828 SMURFIT KAPPA GROUP PLC 65,000 €3,155,113 2.12% N/A N/A

B10RZP7 UNILEVER PLC 115,000 €5,423,015 3.65% N/A N/A

B2PDGW1 WH SMITH PLC 275,000 €5,234,809 3.52% N/A N/A

franklintempletonnordic.com 1 FTIF - Templeton European Opportunities Fund August 31, 2021

Important Information

• Source: Franklin Templeton Investments as at 31/08/21, unless stated otherwise. The fund is a subfund of Franklin Templeton Investment Funds, a Luxembourg-domiciled SICAV. For further information please refer to the relevant Full Prospectus and the relevant Key Investor Information Document.

• This document is intended to be of general interest only and does not constitute legal or tax advice nor is it an offer for shares or invitation to apply for shares of Franklin Templeton Investment Funds ('the Fund'). Nothing in this document should be construed as investment advice.

• Opinions expressed are the author’s at publication date and they are subject to change without prior notice.

The value of shares