X0202 SCHEDULE 13G/A 0000801166 XXXXXXXX LIVE 1 Common Stock, $0.10 par value 06/30/2026 0000038777 Franklin Resources, Inc. 354613101 One Franklin Parkway San Mateo CA 94403 Rule 13d-1(c) Power Corporation of Canada a Z4 0 25340031 0 25340031 25340031 N 4.99 HC CO (1) Represents 25,340,031 shares of Common Stock, par value $0.10 per share (the "Common Shares"), of Franklin Resources, Inc. (the "Issuer") owned directly by PAFI, LLC, an indirect wholly owned subsidiary of Great-West Lifeco Inc. and indirect subsidiary of Power Corporation of Canada. (2) Power Corporation of Canada may be deemed to have shared voting and dispositive power over the 25,340,031 Common Shares owned directly by PAFI, LLC. (3) The percentage reported in this Schedule 13G is based on the sum of (i) 508,076,910 Common Shares outstanding as of July 22, 2026 according to the Issuer's Form 10-Q filed with the Securities and Exchange Commission on July 31, 2026 and (ii) 25,340,031 Common Shares owned directly by PAFI, LLC on and following June 30, 2026 and reported in this Schedule 13G. Great-West Lifeco Inc. a Z4 0 25340031 0 25340031 25340031 N 4.99 HC CO (1) Represents 25,340,031 Common Shares of the Issuer owned directly by PAFI, LLC, an indirect wholly owned subsidiary of Great-West Lifeco Inc. and subsidiary of Power Corporation of Canada. (2) Great-West Lifeco Inc., a subsidiary of Power Corporation of Canada, may be deemed to have shared voting and dispositive power over the 25,340,031 Common Shares owned directly by PAFI, LLC. (3) The percentage reported in this Schedule 13G is based on the sum of (i) 508,076,910 Common Shares outstanding as of July 22, 2026 according to the Issuer's Form 10-Q filed with the Securities and Exchange Commission on July 31, 2026 and (ii) 25,340,031 Common Shares owned directly by PAFI, LLC on and following June 30, 2026 and reported in this Schedule 13G. PAFI, LLC a CO 0 25340031 0 25340031 25340031 N 4.99 OO (1) Represents 25,340,031 Common Shares of the Issuer owned directly by PAFI, LLC, an indirect wholly owned subsidiary of Great-West Lifeco Inc. and subsidiary of Power Corporation of Canada. (2) PAFI, LLC may be deemed to have shared voting and dispositive power over the 25,340,031 Common Shares it owns directly. (3) The percentage reported in this Schedule 13G is based on the sum of (i) 508,076,910 Common Shares outstanding as of July 22, 2026 according to the Issuer's Form 10-Q filed with the Securities and Exchange Commission on July 31, 2026 and (ii) 25,340,031 Common Shares owned directly by PAFI, LLC on and following June 30, 2026 and reported in this Schedule 13G. Franklin Resources, Inc. One Franklin Parkway, San Mateo, CA 94403 This Schedule 13G is filed by Power Corporation of Canada, Great-West Lifeco Inc. and PAFI, LLC (collectively, the "Reporting Persons") with respect to the Common Shares of the Issuer. The Desmarais Family Residuary Trust (the "Trust"), which was created on October 8, 2013 under the Last Will and Testament of Paul G. Desmarais, may be deemed to control the Reporting Persons. As of the date hereof, the trustees of the Trust are Paul Desmarais, Jr., Andre Desmarais, Sophie Desmarais, Gary A. Doer and Gregory Flemming. Decisions with respect to voting the shares of the Reporting Persons controlled by the Trust are determined (subject to the rights of Paul Desmarais, Jr. and Andre Desmarais to direct the sale or pledge of up to 13,581,200 and 14,000,000 of the subordinate voting shares of Power Corporation of Canada) by a majority of the trustees, excluding Sophie Desmarais; provided that if there is no such majority, Paul Desmarais, Jr. and Andre Desmarais, acting together, may make such decisions. The Trust was formed under the laws of Quebec and has its address at 759 Square Victoria, Montreal (Quebec), Canada H2Y 2J7. In accordance with Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release") this filing reflects the securities beneficially owned by the Reporting Persons. The filing does not reflect securities beneficially owned, if any, by other any subsidiaries of the Reporting Persons whose ownership of securities is disaggregated from that of the Reporting Persons in accordance with the Release. The address of the principal business office of each Reporting Person is as follows: Power Corporation of Canada 751 Victoria Square, Montreal, Quebec, Canada H2Y2J3. Great-West Lifeco Inc. 100 Osborne Street North Winnipeg, Manitoba, Canada R3C 3A5 PAFI, LLC 8515 E. Orchard Road Greenwood Village, CO 80111 Power Corporation of Canada and Great-West Lifeco Inc. are organized under the laws of Canada. PAFI, LLC is organized under the laws of the State of Colorado. Y The information required by Item 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person. N Y N No persons other than those set forth herein are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock of Franklin Resources, Inc. N See attached Exhibit 99.1. N Due to the relationships between them, the Reporting Persons may be deemed to constitute a "group" with one another for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934. Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Power Corporation of Canada /s/ Stephane Lemay 08/13/2026 Great-West Lifeco Inc. /s/ Sharon C. Geraghty 08/13/2026 PAFI, LLC /s/ Christine Moritz 08/13/2026