Morningstar® Investment Profile™   Morningstar® Disclosure   Format for Print Templeton Growth VIP 2 Release date as of 2022-05-31. Data on page is subject to change. Snapshot Ratings & Risk Portfolio Nuts & Bolts

Morningstar Report Overall Morningstar Rating™ What is this? As of --- Out of 156 Global Large-Stock Value Funds Morningstar® Style Box™ What is this? As of 2022-05-31 Total Fund Assets ($ Mil) 419.42 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 Value Global large-stock value portfolios invest in a variety of international stocks and typically skew towards large caps that are less expensive or growing more slowly than other global large-cap stocks. World large stock value 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 48.8 Non-U.S. Stocks 43.3 Bonds 0.0 Cash 7.9 Other 0.0 Data through 2022-05-31 Morningstar Equity Sectors % of Stocks Cyclical 27.15 Basic Materials 5.16 Consumer Cyclical 15.51 Financial Services 6.48 Real Estate 0.00 Sensitive 38.02 Communication Services 8.64 Energy 6.19 Industrials 10.50 Technology 12.69 Defensive 34.82 Consumer Defensive 10.18 Healthcare 22.59 Utilities 2.05 Data through 2022-05-31 Morningstar World Regions % Fund Americas 52.9 North America 52.9 Latin America 0.0 Greater Europe 32.8 United Kingdom 15.5 Europe Developed 17.3 Europe Emerging 0.0 Africa/Middle East 0.0 Greater Asia 14.3 Japan 9.1 Australasia 0.0 Asia Developed 5.2 Asia Emerging 0.0 Data through 2022-05-31 Holding Status Total Number of Stock Holdings 62 Total Number of Bond Holdings 0 % of Net Assets in Top 10 Holdings 23.10 Turnover % (as of 2021-12-31) 45.59 30 Day SEC Yield % --- Top Holdings Sector Country % of Net Assets AbbVie Inc United States 2.58 Samsung Electronics Co Ltd South Korea 2.53 BP PLC United Kingdom 2.35 AstraZeneca PLC United Kingdom 2.32 Marathon Petroleum Corp United States 2.26 Anheuser-Busch InBev SA/NV Belgium 2.25 DXC Technology Co Registered Shs When Issued United States 2.23 The Walt Disney Co United States 2.22 Unilever PLC United Kingdom 2.18 Medtronic PLC United States 2.18 Data through 2022-05-31

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

Other Information Inception Date: 1999-01-06 Portfolio Manager(s) Peter M. Moeschter   (2019-02-01) Peter M. Moeschter, CFA, EVP is a portfolio manager in the Templeton Global Equity Group with responsibility for various global and international equity mandates. He is the sector team leader of global utilities. Mr. Moeschter holds a B.B.A. (honors) from Wilfrid Laurier University and an M.B.A. from York University. Christopher James Peel   (2017-05-01) Christopher Peel, CFA, SVP is a research analyst and portfolio manager for the Templeton Global Equity Group. Mr. Peel is a manager for Templeton Growth Fund. He has global research responsibility for software, IT services and consulting, and integrated oils. Mr. Peel is Group Coordinator for the Energy sector. Mr. Peel holds a B.Sc. in computer science from the University of Nottingham (UK). Herbert J Arnett Jr.   (2017-05-01) Herbert Arnett, SVP is Portfolio Manager and Research Analyst for the Templeton Global Equity Group. Mr. Arnett is a manager for Templeton Growth Fund Inc. and Templeton World Fund. He has global research responsibilities for large-cap and small-cap Media, Internet Software and Services, as well US Telecoms. Mr. Arnett holds a B.A. in finance and an M.B.A. from the University of Miami. Warren Pustam   (2019-07-24) Mr. Pustam joined Franklin Templeton in 2013. Investment Advisor(s) Templeton Global Advisors Limited Issuer Franklin Templeton Investments Subadvisor(s) ---

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