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Franklin Biotechnology Discovery Fund - Semi-Annual Comparison Franklin Templeton Investment Funds Franklin Biotechnology Discovery Fund News Regional Portfolio Structure(Semi-Annual Comparison) Sectorial Portfolio Structure(Semi-Annual Comparison) REGIONAL PORTFOLIO Sorted By Value of Holding Holdings(1 - 6) 31 Mar 2014 30 Sep 2013   Holding (Region) Value 000's (USD) % of Fund Value 000's (USD) % of Fund Diff United States of America 2 911 018 90.97 - - 91.0 Cash 167 680 5.24 - - 5.2 Irish Republic 51 392 1.61 - - 1.6 Canada 47 904 1.50 - - 1.5 Unit Trust 21 530 0.67 - - 0.7 Netherlands 589 0.02 - - 0.0 TOTAL 3 200 112 100.00 0 0.00

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