FUND FACTSFranklin Flex Cap Growth Corporate Class — Series F

April 8, 2016

This document contains key information you should know about Franklin Flex Cap Growth Corporate Class. You can find more detailed information in the fund’s simplifiedprospectus. Ask your representative for a copy, contact Franklin Templeton Investments Corp. (Franklin Templeton) at 1.800.387.0830 or service@franklintempleton.ca or visitwww.franklintempleton.ca.

Before you invest in any fund, consider how it would work with your other investments and your tolerance for risk.Before you invest in any fund, consider how it would work with your other investments and your tolerance for risk.Before you invest in any fund, consider how it would work with your other investments and your tolerance for risk.Before you invest in any fund, consider how it would work with your other investments and your tolerance for risk.

Pursuant to proposed changes announced in the March 22, 2016 Federal Budget, after September 2016 switches between this fund and anothercorporate class fund will trigger a capital gain or loss at the time of the switch.

Quick facts

Fund codes: CAD: TML989USD: TML990

Date series started: June 18, 2001Total value of the fund on February 29,2016:

$28.1 million

Management expense ratio (MER): 1.40%

Fund manager: Franklin Templeton Investments Corp.Portfolio manager(s): Franklin Templeton Investments Corp.Sub-advisor of underlying fund: Franklin Advisers, Inc.Minimum investment: $500 initial, $100 additional, PACs $50

What does the fund invest in?The fund invests in Franklin Flex Cap Growth Fund, which invests primarily in U.S. equities that show growth potential and increasing profitability compared to the overalleconomy.

The charts below give you a snapshot of the fund’s investments on February 29, 2016. The fund’s investments will change.

Top 10 investments (February 29, 2016)†

1. Facebook Inc., A 5.07%2. Alphabet Inc., C 3.99%3. MasterCard Inc., A 3.44%4. Amazon.com Inc. 3.13%5. Apple Inc. 2.88%6. Celgene Corp. 2.63%7. NIKE Inc., B 2.57%8. NXP Semiconductors NV 2.45%9. Constellation Brands Inc., A 2.34%10. Signature Bank 2.30%

Total percentage of top 10 Investments 30.80%

Total number of investments 72

Investment mix (February 29, 2016)

Sector

Internet Software & Services 10.85%Software 10.65%IT Services 9.21%Internet & Catalog Retail 5.17%Semiconductors & Semiconductor Equipment 4.84%Communications Equipment 4.49%Biotechnology 4.24%Beverages 3.98%Media 3.77%Textiles, Apparel & Luxury Goods 3.36%

† The fund invests substantially all of its assets in units of Franklin Flex Cap Growth Fund. The above investments are those held by the underlying fund.

How risky is it?The value of the fund can go down as well as up. You could lose money. One way to gauge risk is to look at how much a fund’s returns change over time. This is called“volatility”.

In general, funds with higher volatility will have returns that change more over time. They typically have a greater chance of losing money and may have a greater chance ofhigher returns. Funds with lower volatility tend to have returns that change less over time. They typically have lower returns and may have a lower chance of losing money.

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Franklin Flex Cap Growth Corporate Class — Series F April 8, 2016

Risk ratingFranklin Templeton has rated the volatility of this fund as medium.

This rating is based on how much the fund’s returns have changed from year to year. It doesn’t tell you how volatile the fund will be in the future. The rating can change overtime. A fund with a low risk rating can still lose money.

Low Low to Medium Medium Medium to High High

For more information about the risk rating and specific risks that can affect the fund’s returns, see the Investment risk classification methodology section of the fund’ssimplified prospectus.

No guaranteesLike most mutual funds, this fund doesn’t have any guarantees. You may not get back the amount of money you invest.

How has the fund performed?This section tells you how Series F shares of the fund have performed over the past 8 years. Returns are after expenses have been deducted. These expenses reduce the series’returns.

YEAR-BY-YEAR RETURNS

This chart shows how Series F shares of the fund have performed in each of the past 8 years. The series dropped in value in 2 of the 8 years.The range of returns and change from year to year can help you assess how risky the fund has been in the past. It does not tell you how the fund will perform in the future.

-20.9%

14.2% 9.3%

-2.6%

5.8%

45.1%

15.0%23.0%

-60%

-40%

-20%

0%

20%

40%

60%

80%

2008 2009 2010 2011 2012 2013 2014 2015

Effective August 24, 2007, Franklin TechnologyCorporate Class, Franklin World Health Sciences andBiotech Fund and Franklin World Health Sciences andBiotech Corporate Class merged into Franklin Flex CapGrowth Corporate Class. Accordingly, past performancedata for the period prior to August 24, 2007, would notbe comparative.

BEST and WORST 3-MONTH RETURNS

This table shows the best and worst returns for Series F shares of the fund in a 3-month period over the past 8 years. The best and worst 3-month returns could be higher orlower in the future. Consider how much of a loss you could afford to take in a short period of time.

Return 3 months ended If you invested $1,000 at the beginning of the period

Best return 15.1% July 31, 2015 Your investment would rise to $1,151.

Worst return -19.3% November 30, 2008 Your investment would drop to $807.

AVERAGE RETURN

The annual compounded return of Series F shares of the fund was 6.39% since inception. If you had invested $1,000 in the fund since inception, your investment would benow worth $1,695.

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Franklin Flex Cap Growth Corporate Class — Series F April 8, 2016

Who is this fund for?Investors who:

• want to invest in a portfolio of high quality, innovative U.S. companies with sustainable, high-growth potential tobe held outside a registered plan

• want a U.S. equity fund that combines investment in small, medium and large companies, with a focus oncompanies within the $5 billion to $20 billion capitalization range

• invest for a medium to long term• can handle the ups and downs of the stock market

This fund is focused on capital appreciation. It is not intended for investors who need a steady source of income fromtheir investment.

This fund currently lets taxable investors switch between corporate class funds without paying tax on accrued gains atthe time of the switch. Taxes on the accrued gains are deferred until the time when the corporate class shares areultimately disposed of by the investor; however, pursuant to proposed changes to the tax rules announced in the March22, 2016 Federal Budget, after September 2016 switches between corporate class funds will trigger a capital gain orloss at the time of the switch.

This series is available in U.S. dollars.

Series F shares are only available to investors approved by Franklin Templeton for whom Franklin Templeton does notincur distribution costs.

A word about taxIn general, you pay income tax on your share ofthe fund’s earnings and on any gains you realizefrom redeeming your investment. The amount oftax depends on the tax rules and rates thatapply to you, and whether you hold the fund in aregistered plan, such as an RRSP or TFSA.

If you hold the fund in a non-registered account,we send a tax slip that shows your share of thefund’s earnings. You must calculate your gainson redemption.

How much does it cost?The following tables show the fees and expenses you could pay to buy, own and sell Series F shares of the fund. The fees and expenses – including any commissions – canvary among series of a fund and among funds. Higher commissions can influence representatives to recommend one investment over another. Ask about other funds andinvestments that may be suitable for you at a lower cost.

1. SALES CHARGES

There are no sales charges for Series F shares of the fund.

2. FUND EXPENSES

You don’t pay these expenses directly. They affect you because they reduce the series’ returns. As of December 31, 2015, the expenses of Series F were 1.52% of the value ofthis series. This equals $15.15 for every $1,000 invested.

Annual rate(as a % of the series’ value)

Management expense ratio (MER)This is the total of the management fee (including trailing commission), fixed administrationfee and any operating expenses not covered by the fixed administration fee.

1.40%

Trading expense ratio (TER)These are the fund's trading costs for this series.

0.12%

Series Expenses 1.52%

More about the trailing commission

No trailing commission is paid by Franklin Templeton to your representative’s firm in respect of Series F shares. Please see "Representative's Firm Fees" below.

3. OTHER FEES

You may have to pay other fees when you buy, hold, sell or switch shares of the fund.

Fee What you pay

Representative's Firm Fees No trailing commission is paid by Franklin Templeton to your representative's firm in respect of this series. Instead, you mayneed to enter an agreement to pay your representative's firm a fee, which you negotiate with, and pay directly to yourrepresentative's firm.

Switch fee Up to 2% of the value of the switched shares. You negotiate this amount with, and pay it to, your representative's firm. A switchfrom Series F shares of the fund to Series F securities of another fund will not be subject to switch fees. Your representative'sfirm may charge you a switch fee for switches from Series F to any other series.

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Franklin Flex Cap Growth Corporate Class — Series F April 8, 2016

What if I change my mind?Under the securities law in some provinces and territories, you have the right to:

• withdraw from an agreement to buy mutual fund shares within two businessdays after you receive a simplified prospectus or Fund Facts document, or

• cancel your purchase within 48 hours after you receive confirmation of thepurchase.

In some provinces and territories, you will also have the right to cancel apurchase, or in some jurisdictions, claim damages, if the simplified prospectus,annual information form, Fund Facts document or financial statements contain amisrepresentation. You must act within the time limit set by the securities law inyour province or territory.

For more information, see the securities law of your province or territory or ask alawyer.

For more informationContact Franklin Templeton or your representative for a copy of the fund’ssimplified prospectus and other disclosure documents. These documents and theFund Facts make up the fund’s legal documents.

Franklin Templeton Investments Corp.5000 Yonge Street, Suite 900Toronto, ON M2N 0A7Client Services Toll-Free: 1.800.387.0830Email: service@franklintempleton.cawww.franklintempleton.ca

To learn more about investing in mutual funds, see the brochure UnderstandingUnderstandingUnderstandingUnderstandingmutual fundsmutual fundsmutual fundsmutual funds, which is available on the website of the Canadian SecuritiesAdministrators at www.securities-administrators.cawww.securities-administrators.cawww.securities-administrators.cawww.securities-administrators.ca.

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