FRANKLIN UNIVERSAL TRUST

# Franklin Universal Trust

A closed-end investment fund managed by Franklin Advisers, Inc., a subsidiary of Franklin Resources, Inc., Franklin Universal Trust invests in a balanced portfolio combining U.S. equities and fixed income securities. The fund maintains a thematic focus on utility sector equities, selecting dividend-paying companies within this industry, while also holding corporate bonds across the credit spectrum. The fund's equity holdings benchmark against the S&P 500 Electric Utilities Index, while its fixed income component references the Credit Suisse High Yield Index as a performance measure.

The fund employs fundamental analysis in constructing its diversified portfolio, blending dividend-focused utility stocks with corporate debt instruments to target income generation for shareholders. Since its establishment in September 1988, Franklin Universal Trust has operated as a Delaware corporation domiciled in the United States and is listed on the NYSE. As a closed-end fund rather than an operating company, the business generates revenue through management fees charged on assets under management and investment gains on portfolio holdings rather than through traditional corporate revenue streams.