Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Templeton Growth VIP 1 Release date as of 2024-10-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of 2024-10-31 Out of 326 Global Large-Stock Blend Funds Morningstar® Style Box™ What is this? As of 2024-10-31 Total Fund Assets ($ Mil) 363.84 View Historical Morningstar Star Ratings and Definitions

Investment Objective & Strategy   The investment seeks long-term capital growth. The fund invests primarily in the equity securities of companies located anywhere in the world, including developing markets. The equity securities in which the fund primarily invests are common stock. Although the fund seeks investments across a number of countries and sectors, from time to time, based on economic conditions, it may have substantial positions in particular countries or sectors.

Morningstar Category: Global Large-Stock Blend Global large-stock blend portfolios invest in a variety of international stocks and typically skew towards large caps that are fairly representative of the global stock market in size, growth rates, and price. World large stock blend portfolios have few geographical limitations. It is common for these portfolios to invest the majority of their assets in developed markets, with the remainder divided among the globe’s emerging markets. These portfolios are not significantly overweight U.S. equity exposure relative to the Morningstar Global Market Index and maintain at least a 20% absolute U.S. exposure.

Investment Risks There are no additional fund specific investment risks (e.g. liquidity risk, currency risk, foreign investment risk, etc.) associated with this fund beyond the normal risks generally associated with investing in a mutual fund.

Portfolio Profile Asset Allocation % of Net Assets U.S. Stocks 58.7 Non-U.S. Stocks 38.7 Bonds 0.0 Cash 2.6 Other 0.0 Data through 2024-10-31 Morningstar Equity Sectors % of Stocks Cyclical 31.59 Basic Materials 2.41 Consumer Cyclical 11.35 Financial Services 17.83 Real Estate 0.00 Sensitive 46.40 Communication Services 4.47 Energy 6.97 Industrials 16.12 Technology 18.84 Defensive 22.01 Consumer Defensive 7.05 Healthcare 12.64 Utilities 2.32 Data through 2024-10-31 Morningstar World Regions % Fund Americas 61.6 North America 61.6 Latin America 0.0 Greater Europe 28.8 United Kingdom 17.8 Europe Developed 10.9 Europe Emerging 0.0 Africa/Middle East 0.0 Greater Asia 9.7 Japan 4.4 Australasia 0.0 Asia Developed 3.5 Asia Emerging 1.8 Data through 2024-10-31 Holding Status Total Number of Stock Holdings 53 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 31.02 Turnover % (as of 2023-12-31) 29.48 30 Day SEC Yield % 0.93 Top Holdings Sector Country % of Net Assets Microsoft Corp United States 3.92 Taiwan Semiconductor Manufacturing Co Ltd ADR Taiwan 3.42 Rolls-Royce Holdings PLC United Kingdom 3.19 UnitedHealth Group Inc United States 3.18 PNC Financial Services Group Inc United States 3.10 Alphabet Inc Class A United States 3.05 Bank of America Corp United States 3.04 Unilever PLC United Kingdom 2.92 Amazon.com Inc United States 2.64 Union Pacific Corp United States 2.56 Data through 2024-10-31

Principal Risks    Emerging Markets, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, Value Investing, Active Management, Market/Market Volatility, Other, Restricted/Illiquid Securities, Derivatives, Portfolio Diversification, Small Cap, Mid-Cap Show Risk Definitions

Other Information Inception Date: 1994-03-15 Portfolio Manager(s) Peter M. Moeschter   (2019-02-01) Peter M. Moeschter is an executive vice president and a portfolio manager in the Templeton Global Equity Group. He is lead portfolio manager for the Templeton Growth Fund, Templeton Growth (Euro) Fund and related strategies. He has previously held responsibilities for managing retail and institutional client mandates of global and international equities. He has previously held research responsibilities, including sector coverage of Consumer Staples, Industrials and Utilities, and generalist country coverage of Canada, the U.S. and Germany. Christopher James Peel   (2017-05-01) Christopher Peel is chief executive officer of Templeton Global Advisors and a portfolio manager and research analyst for the Templeton Global Equity Group. Mr. Peel is lead portfolio manager for Templeton Foreign Fund and several other funds with similar mandates, in addition to being a manager for Templeton World Fund and Templeton Growth Fund Inc. Warren Pustam   (2019-07-24) Warren Pustam is a senior vice president, portfolio manager and research analyst for the Templeton Global Equity Group. Mr. Pustam is the lead portfolio manager for Templeton World Fund, a manager on Templeton Growth Fund Inc.,and in additionserves as backup manager for Templeton Foreign Fund, Templeton Global Trust Fund, Templeton Global Fund, and Templeton Global Leaders Fund. He has global research responsibilities for information technology hardware & equipment, software and services. Peter David Sartori   (2024-03-31) Peter Sartori is Director of Portfolio Management for the Templeton Global Equity Group. Peter overseas the groups portfolio managers as well as being lead portfolio manager on several of the group’s funds. Peter started his career at First State Investments in Melbourne Australia in 1991 and opened their Hong Kong office in 1997. From 2001 he held senior roles at Scudder Investments in Singapore and Credit Suisse Asset Management in Sydney. Investment Advisor(s) Templeton Global Advisors Limited Issuer Franklin Templeton Investments Subadvisor(s) Templeton Asset Management Ltd.

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