On January 10, 2022 Franklin Resources, Inc. entered into a credit agreement by and among the Company, as borrower, the financial institutions from time to time party thereto, as lenders, and Bank of America, N.A., as administrative agent, pursuant to which the Company established a 364 day revolving credit facility with aggregate commitments of $500,000,000 (the Revolving Credit Facility). As of the Closing Date, there were no amounts outstanding under the 2022 Credit Agreement. Amounts outstanding under the 2022 Credit Agreement bear interest at an annual rate equal to, at the option of the Company, either a base rate equal to the higher of the federal funds rate plus 0.5%, the prime rate of Bank of America, N.A., the Bloomberg Short-Term Bank Yield Index rate (the “BSBY Rate”) plus 1.00%, and 1.00%, plus, in each case, an applicable margin equal to 0.65%; or the BSBY rate (provided that the BSBY Rate shall not be less than 0.00%), plus an applicable margin equal to 0.65%.

The Company is also required to pay an annual commitment fee equal to 0.05% on the average unused amount of the Revolving Credit Facility payable quarterly.