\n\u00a0<\/p>\n<\/td>\n
\n\u00a0<\/p>\n<\/td>\n
\n\u00a0<\/p>\n<\/td>\n
\nEstimated sources & percentages of distributions<\/p>\n<\/td>\n<\/tr>\n
\nTicker<\/p>\n<\/td>\n
\nTime period<\/p>\n<\/td>\n
\nPer share<\/p>\n
\ndistribution May<\/p>\n
\n2026<\/p>\n<\/td>\n
\nNet<\/p>\n
\nInvestment<\/p>\n
\nIncome<\/p>\n<\/td>\n
\nNet realized<\/p>\n
\nshort-term<\/p>\n
\ncapital gains<\/p>\n<\/td>\n
\nNet realized<\/p>\n
\nlong-term<\/p>\n
\ncapital gains<\/p>\n<\/td>\n
\nReturn of<\/p>\n
\nCapital<\/p>\n<\/td>\n<\/tr>\n
\nTEI<\/p>\n<\/td>\n
\nCurrent<\/p>\n<\/td>\n
\n$0.0475<\/p>\n<\/td>\n
\n$0.0475<\/p>\n<\/td>\n
\n–<\/p>\n<\/td>\n
\n–<\/p>\n<\/td>\n
\n–<\/p>\n<\/td>\n<\/tr>\n
\n\u00a0<\/p>\n<\/td>\n
\nMonth<\/p>\n<\/td>\n
\n\u00a0<\/p>\n<\/td>\n
\n100.0%<\/p>\n<\/td>\n
\n–<\/p>\n<\/td>\n
\n–<\/p>\n<\/td>\n
\n–<\/p>\n<\/td>\n<\/tr>\n
\n\u00a0<\/p>\n<\/td>\n
\n12\/31<\/p>\n<\/td>\n
\n$0.2375<\/p>\n<\/td>\n
\n$0.1979<\/p>\n<\/td>\n
\n$0.0155<\/p>\n<\/td>\n
\n–<\/p>\n<\/td>\n
\n$0.0241<\/p>\n<\/td>\n<\/tr>\n
\n\u00a0<\/p>\n<\/td>\n
\nFiscal YTD<\/p>\n<\/td>\n
\n\u00a0<\/p>\n<\/td>\n
\n83.3%<\/p>\n<\/td>\n
\n6.5%<\/p>\n<\/td>\n
\n–<\/p>\n<\/td>\n
\n10.2%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\nThe amounts and sources of distributions reported in this 19(a) Notice are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon a Fund\u2019s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. Each Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.<\/p>\n
\nThe table below provides information regarding total return performance for various periods through prior month end. Performance includes the deduction of management fees and administrative expenses, assumes reinvestment of distributions, and does not account for taxes. Fiscal YTD distribution rates are through the funds\u2019 most recent distribution record date.<\/p>\n
| \n | \n Annualized<\/b><\/p>\n<\/td>\n | \n | \n Cumulative<\/b><\/p>\n<\/td>\n<\/tr>\n Ticker<\/b><\/p>\n<\/td>\n 5-year average<\/b><\/p>\n annual total<\/b><\/p>\n return at NAV<\/b><\/p>\n<\/td>\n Current<\/b><\/p>\n distribution rate<\/b><\/p>\n at NAV<\/b><\/p>\n<\/td>\n Fiscal YTD<\/b><\/p>\n total return<\/b><\/p>\n at NAV<\/b><\/p>\n<\/td>\n Fiscal YTD<\/b><\/p>\n distribution rate<\/b><\/p>\n at NAV<\/b><\/p>\n<\/td>\n<\/tr>\n \nTEI (FYE 12\/31)<\/p>\n<\/td>\n \n6.47%<\/p>\n<\/td>\n \n8.32%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4.00%<\/p>\n<\/td>\n \n3.47%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nNAV and total return performances are as of 4\/30\/26.<\/p>\n \nYou should not draw any conclusions about a Fund\u2019s investment performance from the amount of this distribution or from the terms of the Fund\u2019s Distribution Policy.<\/p>\n \nEach fund estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Fund\u2019s investment performance and should not be confused with \u2018yield\u2019 or \u2018income\u2019.<\/p>\n The Funds periodically provide fund-related information on their websites. The following information will be available for each Fund at <\/i>www.franklintempleton.com<\/i><\/a> at the frequencies indicated: (1) Full holdings will be available monthly; (2) Top 10 holdings and additional portfolio statistics will be available monthly.<\/i><\/p>\n \nINVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE<\/p>\n Copyright \u00a9 2026. Franklin Templeton. All rights reserved<\/i><\/p>\n \nCategory: Distribution Related<\/p>\n |