FRANKLIN RESOURCES INC 4

What Happened
Franklin Resources Inc., acting as an affiliate investment adviser, made an open-market purchase of 75,000 Class I shares of Franklin BSP Lending Fund on January 29, 2026. The shares were acquired at $10.00 each for a total transaction value of $750,000. This was a straight purchase (transaction code P), which is a direct acquisition rather than a sale or derivative exercise.

Key Details

• Transaction date: 2026-01-29; Price: $10.00 per share; Shares purchased: 75,000; Total value: $750,000.
• Share class: Class I shares (Footnote F1).
• Filing date / report accession: Form filed 2026-02-02 (accession 0000038777-26-000035). The Feb 2 filing is within the typical two-business-day reporting window for Form 4 following a Jan 29 transaction.
• Post-transaction holdings: Not specified in the provided filing excerpt.
• Additional notes: Footnote F2 refers to Exhibits 99-1 and 99-2 for full footnote text, which are incorporated by reference in the filing.

Context
This trade was executed by an institutional affiliate (Franklin Resources Inc.), not an individual officer or 10% owner. Purchases by an investment adviser affiliate are factual disclosures of increased holdings but do not by themselves explain motive. No options, awards, gifts, or tax-withholding actions are involved in this transaction.