Ms. Sarah Kingdon reports

FRANKLIN TEMPLETON INVESTMENTS CANADA ANNOUNCES ESTIMATED DECEMBER CASH DISTRIBUTIONS AND ANNUAL REINVESTED DISTRIBUTIONS FOR FRANKLIN LIBERTYSHARES ETFS

Franklin Templeton Investments Canada has released the estimated December, 2018, cash distributions and the annual reinvested distributions for the Franklin LibertyShares exchange-traded funds available to Canadian investors.

Estimated December, 2018, cash distributions

As detailed in the attached estimated December distributions table, unitholders of record on Dec. 31, 2018, will receive a per-unit cash distribution payable in Canadian dollars on Jan. 8, 2019.

                                       ESTIMATED DECEMBER DISTRIBUTIONS

Fund name                                                 Ticker          Type      Estimated cash     Payment frequency
                                                                                      distribution
                                                                                       per unit ($)

Franklin Liberty Canadian Investment Grade Corporate ETF    FLCI        Active           $0.082017               Monthly
Franklin Liberty Core Balanced ETF                          FLBA        Active            0.117152             Quarterly
Franklin Liberty Global Aggregate Bond ETF (CAD-Hedged)     FLGA        Active            0.073004               Monthly
Franklin Liberty Risk Managed Canadian Equity ETF           FLRM        Active            0.127421             Quarterly
Franklin Liberty Senior Loan ETF (CAD-Hedged)               FLSL        Active            0.482851               Monthly
Franklin Liberty U.S. Investment Grade Corporate ETF 
(CAD-Hedged)                                                FLUI        Active            0.086845               Monthly
Franklin LibertyQT Emerging Markets Index ETF               FLEM    Smart beta            0.202373         Semi-annually
Franklin LibertyQT Global Dividend Index ETF                FLGD    Smart beta            0.231017               Monthly
Franklin LibertyQT International Equity Index ETF           FLDM    Smart beta            0.407259         Semi-annually
Franklin LibertyQT U.S. Equity Index ETF                    FLUS    Smart beta            0.109590             Quarterly     

Estimated annual reinvested distributions

The estimated annual reinvested distributions, as applicable, will not be paid in cash but reinvested in additional units and reported as taxable distributions, with a corresponding increase in unitholders' adjusted cost base of their units of the respective ETF. The additional ETF units will be immediately consolidated so that the number of units held by the unitholder, the outstanding units and the net asset value of the ETFs will not change as a result of the annual reinvested distribution. The annual reinvested distributions, as applicable, are expected to be capital gains in nature for each of the ETFs.

As detailed in the attached estimated annual distributions table, unitholders of record on Dec. 31, 2018, will receive a per-unit reinvested distribution payable on Jan. 8, 2019.

                                       ESTIMATED ANNUAL DISTRIBUTIONS 

Fund name                                                    Ticker            Type       Estimated annual reinvested
                                                                                             distribution per unit ($)

Franklin Liberty Canadian Investment Grade Corporate ETF       FLCI          Active                         $0.000000
Franklin Liberty Core Balanced ETF                             FLBA          Active                          0.000000
Franklin Liberty Global Aggregate Bond ETF (CAD-Hedged)        FLGA          Active                          0.263771
Franklin Liberty Risk Managed Canadian Equity ETF              FLRM          Active                          0.049101
Franklin Liberty Senior Loan ETF  (CAD-Hedged)                 FLSL          Active                          0.000000
Franklin Liberty U.S. Investment Grade Corporate ETF 
(CAD-Hedged)                                                   FLUI          Active                          0.000000
Franklin LibertyQT Emerging Markets IndexETF                   FLEM      Smart beta                          0.000000
Franklin LibertyQT Global Dividend Index ETF                   FLGD      Smart beta                          0.080946
Franklin LibertyQT International Equity Index ETF              FLDM      Smart beta                          0.000000
Franklin LibertyQT U.S. Equity Index ETF                       FLUS      Smart beta                          0.433946

If there are any changes to these year-end distribution amounts, the final amounts will be announced on Dec. 28, 2018. The actual taxable amounts of cash and reinvested distributions for 2018, including the tax characteristics of the distributions, will be reported to brokers through CDS Clearing and Depository Services Inc. in early 2019.

We seek Safe Harbor.