2026-07-1474200014500_TempletonGlobalBondEnhancedFund_ClassA


Templeton Sustainable Emerging Markets Bond Fund
Class A [FEMGX]
Semi-Annual Shareholder Report \| June 30, 2026

This semi-annual shareholder report contains important information about Templeton Sustainable Emerging Markets Bond Fund for the period January 1, 2026, to June 30, 2026.
You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) DIAL BEN/342-5236.

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)


Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^*^,^†
Class A	$57	1.14%

*	Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

†	Annualized.

KEY FUND STATISTICS (as of June 30, 2026)


Total Net Assets	$23,246,362
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)	43
Portfolio Turnover Rate	22.32%

WHAT DID THE FUND INVEST IN? (as of June 30, 2026)

Portfolio Composition^* (% of Total Investments)


Templeton Sustainable Emerging Markets Bond Fund
Class C [FEMHX]
Semi-Annual Shareholder Report \| June 30, 2026

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)


Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^*^,^†
Class C	$78	1.54%

*	Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

†	Annualized.

KEY FUND STATISTICS (as of June 30, 2026)


Total Net Assets	$23,246,362
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)	43
Portfolio Turnover Rate	22.32%

WHAT DID THE FUND INVEST IN? (as of June 30, 2026)

Portfolio Composition^* (% of Total Investments)


Templeton Sustainable Emerging Markets Bond Fund
Class R [FEMBX]
Semi-Annual Shareholder Report \| June 30, 2026

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)


Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^*^,^†
Class R	$70	1.39%

*	Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

†	Annualized.

KEY FUND STATISTICS (as of June 30, 2026)


Total Net Assets	$23,246,362
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)	43
Portfolio Turnover Rate	22.32%

WHAT DID THE FUND INVEST IN? (as of June 30, 2026)

Portfolio Composition^* (% of Total Investments)


Templeton Sustainable Emerging Markets Bond Fund
Class R6 [FEMRX]
Semi-Annual Shareholder Report \| June 30, 2026

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)


Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^*^,^†
Class R6	$43	0.86%

*	Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

†	Annualized.

KEY FUND STATISTICS (as of June 30, 2026)


Total Net Assets	$23,246,362
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)	43
Portfolio Turnover Rate	22.32%

WHAT DID THE FUND INVEST IN? (as of June 30, 2026)

Portfolio Composition^* (% of Total Investments)


Templeton Sustainable Emerging Markets Bond Fund
Advisor Class [FEMZX]
Semi-Annual Shareholder Report \| June 30, 2026

WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)


Class Name	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment^*^,^†
Advisor Class	$45	0.89%

*	Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

†	Annualized.

KEY FUND STATISTICS (as of June 30, 2026)


Total Net Assets	$23,246,362
Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)	43
Portfolio Turnover Rate	22.32%

WHAT DID THE FUND INVEST IN? (as of June 30, 2026)

Portfolio Composition^* (% of Total Investments)

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Enhanced

Fund

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$6.93

$6.20

$7.15

$7.16

$8.77

$9.98

Income

from

investment

operations

Net

investment

income

.............

0.25

0.49

0.48

0.40

0.46

0.63

Net

realized

and

unrealized

gains

(losses)

(0.05)

0.74

(0.94)

—

(1.55)

(1.14)

Total

from

investment

operations

........

0.20

1.23

(0.46)

0.40

(1.09)

(0.51)

Less

distributions

from:

Net

investment

income

..............

(0.25)

(0.21)

—

Tax

return

capital

................

—

(0.29)

(0.28)

(0.41)

(0.52)

(0.70)

Total

distributions

...................

(0.25)

(0.50)

(0.49)

(0.41)

(0.52)

(0.70)

Net

asset

value,

end

period

..........

$6.88

$6.93

$6.20

$7.15

$7.16

$8.77

Total

return

.......................

2.83%

20.40%

(6.74)%

5.88%

(12.53)%

(5.39)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

and

expense

reduction

........

1.29%

1.22%

1.16%

1.17%

Expenses

net

waiver

and

payments

affiliates

..........................

1.28%

1.20%

1.14%

1.16%

Expenses

net

waiver

and

payments

affiliates

and

expense

reduction

........

1.28%

1.20%

1.07%

1.14%

1.16%

Net

investment

income

...............

7.11%

7.31%

7.08%

5.65%

5.99%

6.67%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$106,029

$112,158

$113,102

$163,440

$200,854

$299,056

Portfolio

turnover

rate

................

6.81%

35.71%

29.14%

76.60%

35.05%

23.94%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Amount

rounds

less

than

$0.01

per

share.

Total

return

does

not

reflect

sales

commissions

contingent

deferred

sales

charges,

applicable,

and

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Benefit

expense

reduction

rounds

less

than

0.01%.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Enhanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$6.92

$6.20

$7.15

$8.76

$9.96

Income

from

investment

operations

Net

investment

income

.............

0.23

0.46

0.45

0.37

0.44

0.59

Net

realized

and

unrealized

gains

(losses)

(0.05)

0.73

(0.94)

0.01

(1.56)

(1.14)

Total

from

investment

operations

........

0.18

1.19

(0.49)

0.38

(1.12)

(0.55)

Less

distributions

from:

Net

investment

income

..............

(0.23)

(0.20)

—

Tax

return

capital

................

—

(0.27)

(0.26)

(0.38)

(0.49)

(0.65)

Total

distributions

...................

(0.23)

(0.47)

(0.46)

(0.38)

(0.49)

(0.65)

Net

asset

value,

end

period

..........

$6.87

$6.92

$6.20

$7.15

$8.76

Total

return

.......................

2.62%

19.93%

(7.27)%

5.60%

(12.92)%

(5.72)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

and

expense

reduction

........

1.69%

1.62%

1.57%

1.56%

Expenses

net

waiver

and

payments

affiliates

..........................

1.68%

1.60%

1.61%

1.54%

1.56%

Expenses

net

waiver

and

payments

affiliates

and

expense

reduction

........

1.68%

1.60%

1.61%

1.47%

1.54%

1.56%

Net

investment

income

...............

6.71%

6.91%

6.65%

5.23%

5.63%

6.21%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$5,625

$6,509

$7,988

$13,725

$19,873

$40,591

Portfolio

turnover

rate

................

6.81%

35.71%

29.14%

76.60%

35.05%

23.94%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

does

not

reflect

sales

commissions

contingent

deferred

sales

charges,

applicable,

and

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Benefit

waiver

and

payments

affiliates

rounds

less

than

0.01%.

Benefit

expense

reduction

rounds

less

than

0.01%.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Enhanced

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$6.94

$6.21

$7.16

$7.17

$8.78

$9.98

Income

from

investment

operations

Net

investment

income

.............

0.24

0.47

0.38

0.44

0.61

Net

realized

and

unrealized

gains

(losses)

(0.05)

0.74

(0.95)

—

(1.55)

(1.14)

Total

from

investment

operations

........

0.19

1.21

(0.48)

0.38

(1.11)

(0.53)

Less

distributions

from:

Net

investment

income

..............

(0.24)

(0.20)

—

Tax

return

capital

................

—

(0.28)

(0.27)

(0.39)

(0.50)

(0.67)

Total

distributions

...................

(0.24)

(0.48)

(0.47)

(0.39)

(0.50)

(0.67)

Net

asset

value,

end

period

..........

$6.89

$6.94

$6.21

$7.16

$7.17

$8.78

Total

return

.......................

2.69%

20.06%

(6.97)%

5.61%

(12.74)%

(5.54)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

and

expense

reduction

........

1.54%

1.48%

1.41%

1.42%

Expenses

net

waiver

and

payments

affiliates

..........................

1.53%

1.46%

1.39%

1.38%

1.41%

Expenses

net

waiver

and

payments

affiliates

and

expense

reduction

........

1.53%

1.46%

1.32%

1.38%

1.41%

Net

investment

income

...............

6.86%

7.06%

6.81%

5.41%

5.72%

6.44%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$2,109

$2,274

$1,776

$2,789

$3,322

$4,823

Portfolio

turnover

rate

................

6.81%

35.71%

29.14%

76.60%

35.05%

23.94%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Amount

rounds

less

than

$0.01

per

share.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Benefit

expense

reduction

rounds

less

than

0.01%.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Enhanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$6.93

$6.20

$7.15

$7.16

$8.78

$9.98

Income

from

investment

operations

Net

investment

income

.............

0.26

0.52

0.51

0.43

0.51

0.66

Net

realized

and

unrealized

gains

(losses)

(0.05)

0.74

(0.94)

—

(1.58)

(1.13)

Total

from

investment

operations

........

0.21

1.26

(0.43)

0.43

(1.07)

(0.47)

Less

distributions

from:

Net

investment

income

..............

(0.26)

(0.23)

—

Tax

return

capital

................

—

(0.30)

(0.29)

(0.44)

(0.55)

(0.73)

Total

distributions

...................

(0.26)

(0.53)

(0.52)

(0.44)

(0.55)

(0.73)

Net

asset

value,

end

period

..........

$6.88

$6.93

$6.20

$7.15

$7.16

$8.78

Total

return

.......................

3.04%

20.89%

(6.38)%

6.31%

(12.27)%

(4.91)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

and

expense

reduction

........

0.93%

0.88%

0.89%

0.79%

0.85%

0.79%

Expenses

net

waiver

and

payments

affiliates

..........................

0.86%

0.79%

0.83%

0.74%

0.80%

0.77%

Expenses

net

waiver

and

payments

affiliates

and

expense

reduction

........

0.86%

0.79%

0.83%

0.67%

0.80%

0.77%

Net

investment

income

...............

7.53%

7.72%

7.37%

6.05%

6.47%

7.01%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$12,652

$12,799

$13,307

$31,027

$47,859

$170,830

Portfolio

turnover

rate

................

6.81%

35.71%

29.14%

76.60%

35.05%

23.94%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Amount

rounds

less

than

$0.01

per

share.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Benefit

expense

reduction

rounds

less

than

0.01%.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Enhanced

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Advisor

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$6.95

$6.22

$7.17

$7.18

$8.79

$10.00

Income

from

investment

operations

Net

investment

income

.............

0.26

0.51

0.50

0.41

0.49

0.65

Net

realized

and

unrealized

gains

(losses)

(0.06)

0.73

(0.94)

0.01

(1.56)

(1.14)

Total

from

investment

operations

........

0.20

1.24

(0.44)

0.42

(1.07)

(0.49)

Less

distributions

from:

Net

investment

income

..............

(0.25)

(0.21)

(0.22)

—

Tax

return

capital

................

—

(0.30)

(0.29)

(0.43)

(0.54)

(0.72)

Total

distributions

...................

(0.25)

(0.51)

(0.43)

(0.54)

(0.72)

Net

asset

value,

end

period

..........

$6.90

$6.95

$6.22

$7.17

$7.18

$8.79

Total

return

.......................

2.95%

20.63%

(6.48)%

6.13%

(12.28)%

(5.14)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

and

expense

reduction

........

1.04%

0.97%

0.92%

Expenses

net

waiver

and

payments

affiliates

..........................

1.03%

0.95%

0.96%

0.90%

0.89%

0.91%

Expenses

net

waiver

and

payments

affiliates

and

expense

reduction

........

1.03%

0.95%

0.96%

0.81%

0.89%

0.91%

Net

investment

income

...............

7.39%

7.55%

7.30%

5.84%

6.31%

6.84%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$84,236

$74,896

$65,619

$120,166

$203,568

$424,413

Portfolio

turnover

rate

................

6.81%

35.71%

29.14%

76.60%

35.05%

23.94%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Benefit

expense

reduction

rounds

less

than

0.01%.

Templeton

Income

Trust

Schedule

Investments

(unaudited),

June

30,

2026

Templeton

Global

Bond

Enhanced

Fund

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Industry

Principal

Amount

Value

Corporate

Bonds

0.0%

South

Africa

0.0%

K2016470219

South

Africa

Ltd.

Senior

Secured

Note

144A,

12/31/22

.....................

Broadline

Retail

37,627,701

—

Senior

Secured

Note

144A,

12/31/22

.....................

Broadline

Retail

14,528,882

EUR

—

K2016470260

South

Africa

Ltd.

Senior

Secured

Note

144A,

12/31/22

Broadline

Retail

19,186,470

—

Total

Corporate

Bonds

(Cost

46,940,536

)

......................................

—

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

77.2%

Brazil

8.5%

Brazil

Notas

Tesouro

Nacional

1/01/31

..................

48,131,000

BRL

8,107,577

1/01/33

..................

37,316,000

BRL

6,005,993

1/01/29

................

21,577,000

BRL

3,855,765

17,969,335

Colombia

2.9%

Colombia

Titulos

Tesoreria

6.25

7/09/36

..............

1,190,100,000

COP

238,468

9.25

5/28/42

..............

24,606,100,000

COP

5,872,167

6,110,635

Dominican

Republic

3.5%

Dominican

Republic

Government

Bond

Senior

Bond

144A,

5.3

1/21/41

2,370,000

2,137,385

Senior

Bond

144A,

6.4

6/05/49

580,000

568,893

Senior

Bond

144A,

5.875

1/30/60

5,340,000

4,728,570

7,434,848

Ecuador

4.2%

Ecuador

Government

Bond

Senior

Bond

144A,

6.9

7/31/35

........

9,536,000

8,777,888

Egypt

3.4%

Egypt

Government

Bond

25.151

4/16/27

...............

199,700,000

EGP

4,079,067

Senior

Bond

144A,

8.75

9/30/51

1,080,000

1,071,074

Senior

Bond

144A,

7.5

2/16/61

2,370,000

2,052,491

7,202,632

Ghana

0.6%

Ghana

Government

Bond

Senior

Bond

144A,

7/03/35

....

440,000

408,517

Senior

Bond

144A,

1.5

1/03/37

1,400,000

832,714

1,241,231

Greece

1.1%

Greece

Government

Bond

Senior

Bond

144A,

Reg

4.25

6/15/33

......................

968,000

EUR

1,180,252

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

(continued)

Greece

(continued)

Greece

Government

Bond,

(continued)

Senior

Bond

144A,

Reg

3.375

6/15/34

......................

1,095,000

EUR

1,257,770

2,438,022

India

8.8%

India

Government

Bond

Senior

Bond

7.26

8/22/32

......

1,047,450,000

INR

11,433,668

Senior

Bond

7.18

8/14/33

......

311,900,000

INR

3,388,655

Senior

Bond

7.1

4/08/34

.......

106,150,000

INR

1,145,715

Senior

Bond

6.79

10/07/34

.....

245,100,000

INR

2,597,422

18,565,460

Kazakhstan

4.6%

Kazakhstan

MEOKAM

15.35

11/18/27

.....................

50,500,000

KZT

106,209

Kazakhstan

MEUKAM

7/03/27

...................

171,400,000

KZT

337,846

15.3

3/03/29

................

252,400,000

KZT

531,554

10.55

7/28/29

................

315,300,000

KZT

588,813

2/04/30

..................

41,000,000

KZT

76,717

3/07/30

..................

983,370,000

KZT

1,890,265

2/22/31

..................

844,030,000

KZT

1,639,849

10.3

3/17/31

................

224,900,000

KZT

402,966

5/12/31

..................

60,600,000

KZT

121,910

Senior

Bond

4/18/28

........

494,200,000

KZT

872,664

Senior

Bond

5.5

9/20/28

.......

724,300,000

KZT

1,215,940

Senior

Bond

7.68

8/13/29

......

1,052,000,000

KZT

1,817,607

9,602,340

Malaysia

10.9%

Malaysia

Government

Bond

3.502

5/31/27

................

4,190,000

MYR

1,031,344

3.899

11/16/27

...............

77,940,000

MYR

19,312,127

3.885

8/15/29

................

9,526,000

MYR

2,378,391

4.498

4/15/30

................

825,000

MYR

210,606

22,932,468

Mexico

4.2%

Mexican

Bonos

Desarr

Fixed

Rate

8.5

3/01/29

...............

30,340,000

MXN

1,760,290

8.5

2/28/30

...............

36,640,000

MXN

2,109,881

7.75

5/29/31

..............

33,600,000

MXN

1,867,930

Senior

Bond

8.5

5/31/29

.....

54,620,000

MXN

3,165,952

8,904,053

Norway

4.3%

Norway

Government

Bond

Senior

Bond

144A,

Reg

1.75

2/17/27

91,433,000

NOK

9,081,568

Panama

3.4%

Panama

Government

Bond

Senior

Bond

6.4

2/14/35

.......

1,110,000

1,174,935

Senior

Bond

6.7

1/26/36

.......

4,850,000

5,228,543

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

(continued)

Panama

(continued)

Panama

Government

Bond,

(continued)

Senior

Bond

6.875

1/31/36

.....

665,000

726,928

7,130,406

South

Africa

8.0%

South

Africa

Government

Bond

8.875

2/28/35

................

35,410,000

ZAR

2,241,544

8.5

1/31/37

.................

82,266,000

ZAR

4,999,839

1/31/40

...................

109,760,000

ZAR

6,777,653

8.75

1/31/44

................

47,576,700

ZAR

2,850,587

16,869,623

Spain

3.5%

Spain

Bonos

Obligaciones

del

Estado

Senior

Bond

144A,

Reg

3.55

10/31/33

.....................

3,169,000

EUR

3,736,627

Senior

Bond

144A,

Reg

3.15

4/30/35

......................

3,200,000

EUR

3,641,034

7,377,661

Supranational

5.3%

c,d

European

Investment

Bank

Senior

Note

144A,

6.5

5/02/32

........

183,000,000

INR

1,896,035

International

Bank

for

Reconstruction

Development

Senior

Note

7/16/27

......................

16,040,000,000

COP

4,622,573

International

Finance

Corp.

8.25

9/18/28

......................

16,912,000,000

COP

4,562,136

11,080,744

Total

Foreign

Government

and

Agency

Securities

(Cost

153,732,011

)

.............

162,718,914

U.S.

Government

and

Agency

Securities

6.7%

United

States

6.7%

U.S.

Treasury

Notes

3.875

6/30/30

14,230,000

14,066,577

Total

U.S.

Government

and

Agency

Securities

(Cost

14,186,384

)

.................

14,066,577

Escrows

and

Litigation

Trusts

0.0%

†

a,e

K2016470219

South

Africa

Ltd.,

Escrow

Account

......................

2,168,033

34,895

Total

Escrows

and

Litigation

Trusts

(Cost

–

)

...................................

34,895

Total

Long

Term

Investments

(Cost

214,858,931

)

...............................

176,820,386

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Short

Term

Investments

14.4%

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

5.9%

Egypt

3.9%

Egypt

Treasury

Bills

.13

7/07/26

................

96,600,000

EGP

1,965,399

.28

7/14/26

................

72,325,000

EGP

1,465,118

.18

8/18/26

................

13,075,000

EGP

260,050

.96

9/22/26

................

107,800,000

EGP

2,096,446

.61

10/13/26

...............

34,225,000

EGP

657,119

.64

1/12/27

................

26,575,000

EGP

481,564

.24

3/23/27

................

48,475,000

EGP

842,056

6/29/27

................

31,625,000

EGP

521,374

8,289,126

Nigeria

2.0%

Nigeria

OMO

Bills

8/18/26

................

2,955,000,000

NGN

2,094,786

.65

8/25/26

................

24,000,000

NGN

16,950

.97

9/01/26

................

41,000,000

NGN

28,849

9/08/26

................

2,922,000,000

NGN

2,048,548

4,189,133

Total

Foreign

Government

and

Agency

Securities

(Cost

12,441,164

)

..............

12,478,259

Money

Market

Funds

8.5%

United

States

8.5%

g,h

Franklin

Institutional

U.S.

Government

Money

Market

Fund

3.597

......

17,817,523

Total

Money

Market

Funds

(Cost

17,817,523

)

..................................

17,817,523

Total

Short

Term

Investments

(Cost

30,258,687

)

................................

30,295,782

Total

Investments

(Cost

245,117,618

)

98.3

...................................

$207,116,168

Other

Assets,

less

Liabilities

1.7

.............................................

3,534,715

Net

Assets

100.0%

...........................................................

$210,650,883

The

principal

amount

stated

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

less

than

0.1%

net

assets.

Fair

valued

using

significant

unobservable

inputs.

See

Note

regarding

fair

value

measurements.

Defaulted

security

for

which

income

has

been

deemed

uncollectible.

See

Note

Security

was

purchased

pursuant

Rule

144A

Regulation

under

the

Securities

Act

1933.

144A

securities

may

sold

transactions

exempt

from

registration

only

qualified

institutional

buyers

public

offering

registered

under

the

Securities

Act

1933.

Regulation

securities

cannot

sold

the

United

States

without

either

effective

registration

statement

filed

pursuant

the

Securities

Act

1933,

pursuant

exemption

from

registration.

June

30,

2026,

the

aggregate

value

these

securities

was

$41,370,818,

representing

19.6%

net

assets.

supranational

organization

entity

formed

two

central

governments

through

international

treaties.

Non-income

producing.

The

rate

shown

represents

the

yield

period

end.

See

Note

3(f)

regarding

investments

affiliated

management

investment

companies.

The

rate

shown

the

annualized

seven-day

effective

yield

period

end.

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Global

Bond

Enhanced

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

June

30,

2026,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

1(c).

Forward

Exchange

Contracts

Currency

Counter-

party

Type

Quantity

Contract

Amount

Settlement

Date

Unrealized

Appreciation

Unrealized

Depreciation

OTC

Forward

Exchange

Contracts

Brazilian

Real

......

JPHQ

Buy

978,718

182,916

7/02/26

6,674

—

Brazilian

Real

......

JPHQ

Sell

978,719

189,417

7/02/26

—

(

172

)

Thai

Baht

.........

HSBK

Buy

85,729,000

2,570,585

7/02/26

10,021

—

Thai

Baht

.........

HSBK

Sell

85,729,000

2,619,431

7/02/26

38,825

—

Chinese

Yuan

......

DBAB

Sell

44,370,000

6,545,667

7/10/26

8,216

—

Columbian

Peso

....

CITI

Sell

9,722,032,000

2,615,735

7/10/26

—

(

222,982

)

Columbian

Peso

....

CITI

Sell

8,777,642,250

2,272,894

7/14/26

—

(

287,615

)

Euro

.............

BNDP

Sell

791,000

930,452

7/14/26

26,201

—

Euro

.............

BOFA

Sell

712,467

838,029

7/14/26

23,554

—

Chinese

Yuan

......

HSBK

Sell

7,593,703

1,118,881

7/15/26

—

(

355

)

Columbian

Peso

....

BNDP

Sell

5,052,525,750

1,320,763

7/15/26

—

(

152,745

)

Euro

.............

BZWS

Sell

833,533

979,318

7/16/26

26,360

—

Euro

.............

JPHQ

Sell

5,744,604

6,673,346

7/16/26

105,681

—

Japanese

Yen

......

MSCO

Buy

763,150,000

5,034,499

7/27/26

—

(

331,131

)

Thai

Baht

.........

HSBK

Sell

61,505,000

1,871,017

8/03/26

14,489

—

Japanese

Yen

......

MSCO

Buy

1,968,141,000

12,726,503

8/10/26

—

(

582,662

)

Chinese

Yuan

......

JPHQ

Sell

62,318,149

9,219,752

8/21/26

11,019

—

Australian

Dollar

....

JPHQ

Buy

26,966,000

19,201,545

8/26/26

—

(

550,812

)

Mexican

Peso

......

BNDP

Buy

59,812,208

3,430,740

8/31/26

—

(

27,872

)

Mexican

Peso

......

HSBK

Buy

93,910,542

5,385,088

8/31/26

—

(

42,279

)

Brazilian

Real

......

JPHQ

Buy

978,719

186,650

9/02/26

—

Mexican

Peso

......

BNDP

Buy

21,736,436

1,236,366

9/10/26

—

(

725

)

Mexican

Peso

......

HSBK

Buy

31,153,000

1,772,706

9/10/26

—

(

1,765

)

Chinese

Yuan

......

JPHQ

Sell

34,490,000

5,119,422

9/16/26

12,593

—

South

Korean

Won

DBAB

Buy

28,961,490,000

19,050,478

9/16/26

—

(

306,747

)

Thai

Baht

.........

DBAB

Sell

73,081,000

2,245,206

9/16/26

31,141

—

Thai

Baht

.........

HSBK

Sell

82,875,000

2,544,598

9/16/26

33,813

—

Japanese

Yen

......

MSCO

Buy

2,166,587,000

13,823,796

9/17/26

—

(

413,929

)

Thai

Baht

.........

HSBK

Sell

85,729,000

2,578,316

10/01/26

—

(

22,317

)

Thai

Baht

.........

CITI

Sell

97,728,000

2,993,613

10/02/26

28,684

—

Thai

Baht

.........

HSBK

Sell

85,293,000

2,619,435

10/02/26

31,766

—

Thai

Baht

.........

CITI

Sell

97,225,000

2,993,616

10/05/26

43,052

—

Thai

Baht

.........

DBAB

Sell

73,010,000

2,245,232

10/05/26

29,540

—

Norwegian

Krone

...

MSCO

Buy

9,256,000

969,426

10/13/26

—

(

35,729

)

Euro

.............

DBAB

Sell

778,405

8,520,000

NOK

11/12/26

—

(

35,558

)

Australian

Dollar

....

DBAB

Buy

2,173,000

1,512,775

12/15/26

—

(

12,456

)

Australian

Dollar

....

MSCO

Buy

3,360,000

2,338,577

12/15/26

—

(

18,709

)

Japanese

Yen

......

MSCO

Buy

2,166,587,000

13,763,274

12/16/26

—

(

245,968

)

Total

Forward

Exchange

Contracts

...................................................

$481,692

$(3,292,528)

Net

unrealized

appreciation

(depreciation)

............................................

$(2,810,836)

U.S.

dollars

unless

otherwise

indicated.

May

comprised

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Fund

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$7.15

$6.49

$7.77

$7.89

$8.84

$9.80

Income

from

investment

operations

Net

investment

income

.............

0.18

0.39

0.36

0.29

0.34

0.42

Net

realized

and

unrealized

gains

(losses)

(0.04)

0.68

(1.27)

(0.11)

(0.88)

(0.90)

Total

from

investment

operations

........

0.14

1.07

(0.91)

0.18

(0.54)

(0.48)

Less

distributions

from:

Net

investment

income

..............

(0.18)

(0.09)

(0.14)

—

Tax

return

capital

................

—

(0.32)

(0.23)

(0.30)

(0.41)

(0.48)

Total

distributions

...................

(0.18)

(0.41)

(0.37)

(0.30)

(0.41)

(0.48)

Net

asset

value,

end

period

..........

$7.11

$7.15

$6.49

$7.77

$7.89

$8.84

Total

return

.......................

2.01%

16.73%

(11.95)%

2.43%

(6.17)%

(5.06)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

1.04%

1.00%

0.99%

0.97%

0.96%

0.97%

Expenses

net

waiver

and

payments

affiliates

..........................

1.01%

0.97%

0.96%

0.95%

0.94%

0.96%

Net

investment

income

...............

5.12%

5.62%

5.06%

3.72%

4.14%

4.51%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$1,417,955

$1,484,512

$1,496,483

$2,104,823

$2,492,812

$3,478,172

Portfolio

turnover

rate

................

—%

23.19%

30.80%

104.28%

16.01%

28.44%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

does

not

reflect

sales

commissions

contingent

deferred

sales

charges,

applicable,

and

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$7.20

$6.53

$7.81

$7.93

$8.88

$9.83

Income

from

investment

operations

Net

investment

income

.............

0.17

0.31

0.33

0.25

0.31

0.38

Net

realized

and

unrealized

gains

(losses)

(0.04)

0.74

(1.27)

(0.10)

(0.89)

(0.90)

Total

from

investment

operations

........

0.13

1.05

(0.94)

0.15

(0.58)

(0.52)

Less

distributions

from:

Net

investment

income

..............

(0.17)

(0.08)

(0.13)

—

Tax

return

capital

................

—

(0.30)

(0.21)

(0.27)

(0.37)

(0.43)

Total

distributions

...................

(0.17)

(0.38)

(0.34)

(0.27)

(0.37)

(0.43)

Net

asset

value,

end

period

..........

$7.16

$7.20

$6.53

$7.81

$7.93

$8.88

Total

return

.......................

1.78%

16.30%

(12.26)%

1.99%

(6.53)%

(5.38)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

1.44%

1.40%

1.39%

1.37%

1.36%

Expenses

net

waiver

and

payments

affiliates

..........................

1.40%

1.37%

1.36%

1.35%

1.36%

Net

investment

income

...............

4.71%

4.47%

4.63%

3.27%

3.78%

4.07%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$28,270

$33,784

$44,654

$79,606

$126,600

$224,611

Portfolio

turnover

rate

................

—%

23.19%

30.80%

104.28%

16.01%

28.44%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

does

not

reflect

sales

commissions

contingent

deferred

sales

charges,

applicable,

and

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Benefit

waiver

and

payments

affiliates

rounds

less

than

0.01%.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$7.15

$6.49

$7.77

$7.89

$8.84

$9.80

Income

from

investment

operations

Net

investment

income

.............

0.17

0.38

0.35

0.27

0.32

0.40

Net

realized

and

unrealized

gains

(losses)

(0.04)

0.67

(1.27)

(0.11)

(0.88)

(0.91)

Total

from

investment

operations

........

0.13

1.05

(0.92)

0.16

(0.56)

(0.51)

Less

distributions

from:

Net

investment

income

..............

(0.17)

(0.09)

(0.14)

—

Tax

return

capital

................

—

(0.30)

(0.22)

(0.28)

(0.39)

(0.45)

Total

distributions

...................

(0.17)

(0.39)

(0.36)

(0.28)

(0.39)

(0.45)

Net

asset

value,

end

period

..........

$7.11

$7.15

$6.49

$7.77

$7.89

$8.84

Total

return

.......................

1.88%

16.44%

(12.17)%

2.18%

(6.40)%

(5.30)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

1.29%

1.25%

1.24%

1.22%

1.21%

1.22%

Expenses

net

waiver

and

payments

affiliates

..........................

1.26%

1.22%

1.21%

1.20%

1.19%

1.21%

Net

investment

income

...............

4.87%

5.37%

4.81%

3.48%

3.87%

4.26%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$69,938

$73,961

$76,614

$100,333

$111,601

$137,543

Portfolio

turnover

rate

................

—%

23.19%

30.80%

104.28%

16.01%

28.44%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$7.10

$6.45

$7.72

$7.85

$8.80

$9.75

Income

from

investment

operations

Net

investment

income

.............

0.20

0.42

0.39

0.31

0.37

0.45

Net

realized

and

unrealized

gains

(losses)

(0.04)

0.66

(1.26)

(0.11)

(0.88)

(0.89)

Total

from

investment

operations

........

0.16

1.08

(0.87)

0.20

(0.51)

(0.44)

Less

distributions

from:

Net

investment

income

..............

(0.20)

(0.09)

(0.15)

—

Tax

return

capital

................

—

(0.34)

(0.25)

(0.33)

(0.44)

(0.51)

Total

distributions

...................

(0.20)

(0.43)

(0.40)

(0.33)

(0.44)

(0.51)

Net

asset

value,

end

period

..........

$7.06

$7.10

$6.45

$7.72

$7.85

$8.80

Total

return

.......................

2.24%

17.16%

(11.54)%

2.72%

(5.79)%

(4.59)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

0.64%

0.61%

0.60%

0.58%

0.63%

Expenses

net

waiver

and

payments

affiliates

..........................

0.58%

0.56%

0.52%

0.58%

Net

investment

income

...............

5.55%

6.03%

5.46%

4.09%

4.56%

4.85%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$334,740

$343,627

$417,858

$551,986

$688,345

$944,502

Portfolio

turnover

rate

................

—%

23.19%

30.80%

104.28%

16.01%

28.44%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Financial

Highlights

Templeton

Global

Bond

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Advisor

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$7.11

$6.45

$7.73

$7.85

$8.80

$9.75

Income

from

investment

operations

Net

investment

income

.............

0.19

0.41

0.38

0.30

0.36

0.44

Net

realized

and

unrealized

gains

(losses)

(0.04)

0.67

(1.27)

(0.10)

(0.88)

(0.89)

Total

from

investment

operations

........

0.15

1.08

(0.89)

0.20

(0.52)

(0.45)

Less

distributions

from:

Net

investment

income

..............

(0.19)

(0.09)

(0.15)

—

Tax

return

capital

................

—

(0.33)

(0.24)

(0.32)

(0.43)

(0.50)

Total

distributions

...................

(0.19)

(0.42)

(0.39)

(0.32)

(0.43)

(0.50)

Net

asset

value,

end

period

..........

$7.07

$7.11

$6.45

$7.73

$7.85

$8.80

Total

return

.......................

2.15%

17.14%

(11.79)%

2.71%

(5.95)%

(4.74)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

0.79%

0.75%

0.74%

0.72%

Expenses

net

waiver

and

payments

affiliates

..........................

0.76%

0.71%

0.70%

0.69%

0.71%

Net

investment

income

...............

5.38%

5.87%

5.28%

3.96%

4.41%

4.74%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$1,128,799

$1,068,872

$953,070

$1,743,989

$2,284,522

$3,641,639

Portfolio

turnover

rate

................

—%

23.19%

30.80%

104.28%

16.01%

28.44%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Schedule

Investments

(unaudited),

June

30,

2026

Templeton

Global

Bond

Fund

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

74.5%

Australia

10.4%

New

South

Wales

Treasury

Corp.

Senior

Bond,

2%,

3/08/33

........

41,549,000

AUD

23,987,480

Senior

Bond,

Reg

1.75%,

3/20/34

94,524,000

AUD

51,612,821

Queensland

Treasury

Corp.,

Senior

Bond,

144A,

Reg

1.75%,

7/20/34

218,298,000

AUD

117,578,290

Treasury

Corp.

Victoria

Senior

Bond,

2.25%,

11/20/34

.....

44,262,000

AUD

24,517,063

Senior

Bond,

2%,

11/20/37

........

189,652,000

AUD

92,167,313

309,862,967

Brazil

9.2%

Brazil

Notas

Tesouro

Nacional

10%,

1/01/31

..................

909,614,000

BRL

153,222,789

10%,

1/01/33

..................

361,526,000

BRL

58,187,440

10%,

1/01/29

................

349,224,000

BRL

62,405,602

273,815,831

Colombia

3.9%

Colombia

Titulos

Tesoreria

13.25%,

2/09/33

.............

79,870,000,000

COP

24,654,745

7.25%,

10/18/34

.............

148,699,000,000

COP

33,056,166

6.25%,

7/09/36

..............

41,872,000,000

COP

8,390,176

9.25%,

5/28/42

..............

206,416,000,000

COP

49,260,514

115,361,601

Egypt

3.0%

Egypt

Government

Bond

Senior

Bond,

144A,

8.5%,

1/31/47

40,381,000

39,627,641

Senior

Bond,

144A,

8.7%,

3/01/49

12,110,000

11,973,174

Senior

Bond,

144A,

8.875%,

5/29/50

26,683,000

26,670,212

Senior

Bond,

144A,

8.75%,

9/30/51

11,130,000

11,038,016

89,309,043

Ghana

0.5%

Ghana

Government

Bond

Senior

Bond,

144A,

5%,

7/03/35

....

4,930,000

4,577,251

Senior

Bond,

144A,

1.5%,

1/03/37

15,630,000

9,296,656

13,873,907

Greece

1.5%

Greece

Government

Bond

Senior

Bond,

144A,

Reg

4.25%,

6/15/33

......................

17,701,000

EUR

21,582,271

Senior

Bond,

144A,

Reg

3.375%,

6/15/34

......................

20,003,000

EUR

22,976,412

44,558,683

India

7.8%

India

Government

Bond

7.26%,

1/14/29

................

1,800,960,000

INR

19,532,997

Senior

Bond,

7.26%,

8/22/32

......

12,972,780,000

INR

141,607,197

Senior

Bond,

7.18%,

8/14/33

......

4,011,300,000

INR

43,580,996

Senior

Bond,

7.1%,

4/08/34

.......

456,210,000

INR

4,924,041

Senior

Bond,

6.79%,

10/07/34

.....

1,097,100,000

INR

11,626,402

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Global

Bond

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

(continued)

India

(continued)

India

Government

Bond,

(continued)

Senior

Note,

7.1%,

4/18/29

.......

917,600,000

INR

9,930,922

231,202,555

Malaysia

9.2%

Malaysia

Government

Bond

3.9%,

11/30/26

.................

128,309,000

MYR

31,579,903

3.892%,

3/15/27

................

19,290,000

MYR

4,757,639

3.502%,

5/31/27

................

30,640,000

MYR

7,541,855

3.899%,

11/16/27

...............

691,620,000

MYR

171,370,969

4.498%,

4/15/30

................

97,744,000

MYR

24,952,089

3.582%,

7/15/32

................

134,410,000

MYR

33,090,203

273,292,658

Mexico

2.4%

Mexican

Bonos

Desarr

Fixed

Rate

8.5%,

3/01/29

...............

852,180,000

MXN

49,442,466

Senior

Bond,

8.5%,

5/31/29

.....

408,816,100

MXN

23,696,302

73,138,768

Norway

4.6%

Norway

Government

Bond,

Senior

Bond,

144A,

Reg

1.75%,

2/17/27

1,383,486,000

NOK

137,414,522

Panama

4.6%

Panama

Government

Bond

Senior

Bond,

2.252%,

9/29/32

.....

4,920,000

4,135,260

Senior

Bond,

3.298%,

1/19/33

.....

2,130,000

1,891,227

Senior

Bond,

6.4%,

2/14/35

.......

71,380,000

75,555,730

Senior

Bond,

6.875%,

1/31/36

.....

2,790,000

3,049,819

Senior

Bond,

8%,

3/01/38

........

45,980,000

54,097,769

138,729,805

Serbia

0.5%

Serbia

Treasury

Bonds,

4.5%,

8/20/32

1,617,620,000

RSD

15,132,685

South

Africa

8.3%

South

Africa

Government

Bond

8.875%,

2/28/35

................

776,200,000

ZAR

49,135,448

8.5%,

1/31/37

.................

1,241,135,000

ZAR

75,431,827

9%,

1/31/40

...................

1,348,700,000

ZAR

83,281,899

8.75%,

1/31/44

................

659,639,000

ZAR

39,522,671

247,371,845

Spain

4.5%

Spain

Bonos

Obligaciones

del

Estado

Senior

Bond,

144A,

Reg

3.55%,

10/31/33

.....................

53,058,000

EUR

62,561,677

Senior

Bond,

144A,

Reg

3.15%,

4/30/35

......................

63,830,000

EUR

72,627,258

135,188,935

Supranational

0.9%

a,b

European

Investment

Bank,

Senior

Note,

144A,

6.25%,

7/11/30

.......

1,840,800,000

INR

18,715,565

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Global

Bond

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

(continued)

Supranational

(continued)

International

Bank

for

Reconstruction

Development,

Senior

Note,

6.89%,

2/06/30

......................

789,000,000

INR

8,226,888

26,942,453

Uruguay

3.2%

Uruguay

Government

Bond,

Index

Linked,

Senior

Bond,

3.875%,

7/02/40

3,464,384,010

UYU

96,220,159

Total

Foreign

Government

and

Agency

Securities

(Cost

$2,133,773,473)

...........

2,221,416,417

U.S.

Government

and

Agency

Securities

3.2%

United

States

3.2%

U.S.

Treasury

Notes

3.5%,

2/15/33

.................

53,358,000

50,917,288

4.25%,

11/15/34

................

44,776,600

44,343,701

95,260,989

Total

U.S.

Government

and

Agency

Securities

(Cost

$97,521,095)

.................

95,260,989

Total

Long

Term

Investments

(Cost

$2,231,294,568)

.............................

2,316,677,406

Short

Term

Investments

20.3%

Industry

Value

Money

Market

Funds

20.3%

United

States

20.3%

d,e

Franklin

Institutional

U.S.

Government

Money

Market

Fund,

3.597%

......

605,562,534

Total

Money

Market

Funds

(Cost

$605,562,534)

.................................

605,562,534

Total

Short

Term

Investments

(Cost

$605,562,534

)

...............................

605,562,534

Total

Investments

(Cost

$2,836,857,102)

98.0%

..................................

$2,922,239,940

Other

Assets,

less

Liabilities

2.0%

.............................................

57,463,093

Net

Assets

100.0%

...........................................................

$2,979,703,033

The

principal

amount

stated

U.S.

dollars

unless

otherwise

indicated.

Security

was

purchased

pursuant

Rule

144A

Regulation

under

the

Securities

Act

1933.

144A

securities

may

sold

transactions

exempt

from

registration

only

qualified

institutional

buyers

public

offering

registered

under

the

Securities

Act

1933.

Regulation

securities

cannot

sold

the

United

States

without

either

effective

registration

statement

filed

pursuant

the

Securities

Act

1933,

pursuant

exemption

from

registration.

June

30,

2026,

the

aggregate

value

these

securities

was

$608,251,766,

representing

20.4%

net

assets.

supranational

organization

entity

formed

two

central

governments

through

international

treaties.

Principal

amount

security,

redemption

price

maturity,

and/or

coupon

payments

are

adjusted

for

inflation.

See

Note

1(e).

See

Note

3(f)

regarding

investments

affiliated

management

investment

companies.

The

rate

shown

the

annualized

seven-day

effective

yield

period

end.

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Global

Bond

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

June

30,

2026,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

1(c).

Forward

Exchange

Contracts

Currency

Counter-

party

Type

Quantity

Contract

Amount

Settlement

Date

Unrealized

Appreciation

Unrealized

Depreciation

OTC

Forward

Exchange

Contracts

Thai

Baht

.........

HSBK

Buy

1,245,120,500

37,334,948

7/02/26

145,539

—

Thai

Baht

.........

HSBK

Sell

1,245,120,500

38,044,387

7/02/26

563,900

—

Euro

.............

BNDP

Sell

14,068,000

16,548,160

7/14/26

465,980

—

Euro

.............

BOFA

Sell

28,963,456

34,067,831

7/14/26

957,543

—

Chinese

Yuan

......

HSBK

Sell

547,251,250

80,633,819

7/15/26

—

(25,578)

Euro

.............

BZWS

Sell

33,872,544

39,796,852

7/16/26

1,071,197

—

Euro

.............

JPHQ

Sell

33,876,000

39,805,655

7/16/26

1,076,049

—

Serbian

Dinar

......

DBAB

Buy

896,483,143

8,843,499

7/20/26

—

(121,267)

Chinese

Yuan

......

MSCO

Sell

1,102,153,000

159,911,698

7/27/26

—

(2,668,594)

Japanese

Yen

......

MSCO

Buy

2,362,790,000

15,587,321

7/27/26

—

(1,025,217)

Thai

Baht

.........

HSBK

Sell

893,297,500

27,174,614

8/03/26

210,442

—

Serbian

Dinar

......

DBAB

Buy

2,253,654,000

22,608,888

8/05/26

—

(691,321)

Japanese

Yen

......

MSCO

Buy

34,157,438,800

220,870,738

8/10/26

—

(

10,112,202)

Chinese

Yuan

......

JPHQ

Sell

259,117,222

38,335,487

8/21/26

45,815

—

Mexican

Peso

......

BNDP

Buy

2,389,798,478

134,279,935

8/31/26

2,102,726

(420,979)

Mexican

Peso

......

HSBK

Buy

1,139,725,665

65,354,990

8/31/26

—

(513,113)

Mexican

Peso

......

BNDP

Buy

328,304,649

18,673,939

9/10/26

—

(10,945)

Mexican

Peso

......

HSBK

Buy

228,255,820

12,988,490

9/10/26

—

(12,929)

Serbian

Dinar

......

DBAB

Buy

1,097,715,000

10,784,114

9/10/26

—

(118,506)

Serbian

Dinar

......

DBAB

Buy

3,134,972,506

30,699,837

9/16/26

—

(244,814)

South

Korean

Won

DBAB

Buy

121,370,556,000

79,835,919

9/16/26

—

(1,285,502)

Thai

Baht

.........

DBAB

Sell

1,061,433,000

32,609,509

9/16/26

452,290

—

Thai

Baht

.........

HSBK

Sell

1,203,667,000

36,957,444

9/16/26

491,098

—

Japanese

Yen

......

MSCO

Buy

37,601,507,000

239,914,470

9/17/26

—

(7,183,815)

Chinese

Yuan

......

HSBK

Sell

212,237,000

31,111,583

9/30/26

—

(349,625)

Serbian

Dinar

......

DBAB

Buy

2,081,824,379

20,270,929

10/01/26

—

(55,034)

Thai

Baht

.........

HSBK

Sell

1,245,120,500

37,447,233

10/01/26

—

(324,136)

Thai

Baht

.........

CITI

Sell

1,419,406,000

43,479,377

10/02/26

416,612

—

Thai

Baht

.........

HSBK

Sell

1,238,788,000

38,044,445

10/02/26

461,374

—

Thai

Baht

.........

CITI

Sell

1,412,101,000

43,479,430

10/05/26

625,286

—

Thai

Baht

.........

DBAB

Sell

1,060,390,000

32,609,525

10/05/26

429,033

—

Euro

.............

MSCO

Sell

18,874,126

212,120,000

NOK

10/13/26

—

(263,971)

Japanese

Yen

......

BNDP

Buy

6,286,725,520

40,186,691

10/16/26

—

(1,177,559)

South

Korean

Won

JPHQ

Buy

16,182,300,000

10,676,453

12/14/26

—

(179,205)

Japanese

Yen

......

MSCO

Buy

37,601,508,000

238,864,094

12/16/26

—

(4,268,812)

South

Korean

Won

HSBK

Buy

196,242,900,000

129,415,384

12/16/26

—

(2,108,101)

Total

Forward

Exchange

Contracts

...................................................

$9,514,884

$(33,161,225)

Net

unrealized

appreciation

(depreciation)

............................................

$(23,646,341)

U.S.

dollars

unless

otherwise

indicated.

May

comprised

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Templeton

Income

Trust

Financial

Highlights

Templeton

Sustainable

Emerging

Markets

Bond

Fund

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$5.41

$4.62

$5.18

$4.91

$5.82

$6.70

Income

from

investment

operations

Net

investment

income

.............

0.22

0.46

0.37

0.31

0.26

0.48

Net

realized

and

unrealized

gains

(losses)

(0.05)

0.74

(0.55)

0.27

(0.86)

(0.83)

Total

from

investment

operations

........

0.17

1.20

(0.18)

0.58

(0.60)

(0.35)

Less

distributions

from:

Net

investment

income

..............

(0.24)

(0.41)

(0.23)

(0.02)

—

Tax

return

capital

................

—

(0.15)

(0.29)

(0.31)

(0.53)

Total

distributions

...................

(0.24)

(0.41)

(0.38)

(0.31)

(0.53)

Net

asset

value,

end

period

..........

$5.34

$5.41

$4.62

$5.18

$4.91

$5.82

Total

return

.......................

3.19%

26.41%

(3.70)%

12.13%

(10.51)%

(5.54)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

2.30%

2.70%

2.67%

2.66%

2.91%

2.77%

Expenses

net

waiver

and

payments

affiliates

..........................

1.14%

1.12%

1.08%

1.13%

Net

investment

income

...............

8.33%

8.96%

7.33%

6.13%

4.90%

7.58%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$12,389

$14,226

$8,072

$9,849

$10,984

$14,821

Portfolio

turnover

rate

................

22.32%

50.11%

80.93%

86.75%

58.11%

40.55%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

does

not

reflect

sales

commissions

contingent

deferred

sales

charges,

applicable,

and

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Financial

Highlights

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$5.41

$4.62

$5.18

$4.91

$5.81

$6.69

Income

from

investment

operations

Net

investment

income

.............

0.21

0.44

0.35

0.29

0.24

0.45

Net

realized

and

unrealized

gains

(losses)

(0.05)

0.73

(0.55)

0.27

(0.86)

(0.83)

Total

from

investment

operations

........

0.16

1.17

(0.20)

0.56

(0.62)

(0.38)

Less

distributions

from:

Net

investment

income

..............

(0.23)

(0.38)

(0.22)

(0.03)

—

Tax

return

capital

................

—

(0.14)

(0.26)

(0.28)

(0.50)

Total

distributions

...................

(0.23)

(0.38)

(0.36)

(0.29)

(0.28)

(0.50)

Net

asset

value,

end

period

..........

$5.34

$5.41

$4.62

$5.18

$4.91

$5.81

Total

return

.......................

3.02%

25.85%

(4.10)%

11.70%

(10.79)%

(5.96)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

2.73%

3.10%

3.06%

3.08%

3.34%

3.13%

Expenses

net

waiver

and

payments

affiliates

..........................

1.54%

Net

investment

income

...............

7.96%

8.56%

6.94%

5.72%

4.52%

7.18%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$936

$750

$629

$689

$734

$1,310

Portfolio

turnover

rate

................

22.32%

50.11%

80.93%

86.75%

58.11%

40.55%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

does

not

reflect

sales

commissions

contingent

deferred

sales

charges,

applicable,

and

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Financial

Highlights

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$5.41

$4.62

$5.19

$4.92

$5.83

$6.71

Income

from

investment

operations

Net

investment

income

.............

0.22

0.45

0.37

0.30

0.24

0.48

Net

realized

and

unrealized

gains

(losses)

(0.06)

0.73

(0.57)

0.26

(0.86)

(0.83)

Total

from

investment

operations

........

0.16

1.18

(0.20)

0.56

(0.62)

(0.35)

Less

distributions

from:

Net

investment

income

..............

(0.23)

(0.39)

(0.22)

(0.05)

—

Tax

return

capital

................

—

(0.15)

(0.24)

(0.29)

(0.53)

Total

distributions

...................

(0.23)

(0.39)

(0.37)

(0.29)

(0.53)

Net

asset

value,

end

period

..........

$5.34

$5.41

$4.62

$5.19

$4.92

$5.83

Total

return

.......................

3.06%

26.08%

(4.12)%

11.86%

(10.76)%

(5.56)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

2.56%

2.96%

3.20%

2.88%

3.21%

2.81%

Expenses

net

waiver

and

payments

affiliates

..........................

1.39%

1.16%

Net

investment

income

...............

8.09%

8.72%

7.47%

5.92%

4.59%

7.55%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$142

$131

$100

$13

$10

$12

Portfolio

turnover

rate

................

22.32%

50.11%

80.93%

86.75%

58.11%

40.55%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Financial

Highlights

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$5.41

$4.62

$5.18

$4.91

$5.83

$6.71

Income

from

investment

operations

Net

investment

income

.............

0.23

0.48

0.38

0.32

0.26

0.51

Net

realized

and

unrealized

gains

(losses)

(0.06)

0.73

(0.54)

0.27

(0.86)

(0.84)

Total

from

investment

operations

........

0.17

1.21

(0.16)

0.59

(0.60)

(0.33)

Less

distributions

from:

Net

investment

income

..............

(0.24)

(0.42)

(0.24)

(0.04)

—

Tax

return

capital

................

—

(0.16)

(0.28)

(0.32)

(0.55)

Total

distributions

...................

(0.24)

(0.42)

(0.40)

(0.32)

(0.55)

Net

asset

value,

end

period

..........

$5.34

$5.41

$4.62

$5.18

$4.91

$5.83

Total

return

.......................

3.34%

26.74%

(3.40)%

12.47%

(10.41)%

(5.19)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

2.20%

2.52%

2.46%

2.47%

2.86%

2.56%

Expenses

net

waiver

and

payments

affiliates

..........................

0.86%

0.77%

Net

investment

income

...............

8.63%

9.25%

7.63%

6.44%

5.09%

8.00%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$1,797

$1,432

$627

$654

$599

$663

Portfolio

turnover

rate

................

22.32%

50.11%

80.93%

86.75%

58.11%

40.55%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Financial

Highlights

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

2024

2023

2022

2021

Advisor

Class

Per

operating

performance

(for

outstanding

throughout

the

period)

Net

asset

value,

beginning

period

.....

$5.45

$4.65

$5.21

$4.94

$5.85

$6.73

Income

from

investment

operations

Net

investment

income

.............

0.23

0.48

0.38

0.32

0.27

0.50

Net

realized

and

unrealized

gains

(losses)

(0.06)

0.74

(0.54)

0.27

(0.86)

(0.84)

Total

from

investment

operations

........

0.17

1.22

(0.16)

0.59

(0.59)

(0.34)

Less

distributions

from:

Net

investment

income

..............

(0.24)

(0.42)

(0.24)

(0.15)

—

Tax

return

capital

................

—

(0.16)

(0.17)

(0.32)

(0.54)

Total

distributions

...................

(0.24)

(0.42)

(0.40)

(0.32)

(0.54)

Net

asset

value,

end

period

..........

$5.38

$5.45

$4.65

$5.21

$4.94

$5.85

Total

return

.......................

3.29%

26.76%

(3.43)%

12.35%

(10.28)%

(5.28)%

Ratios

average

net

assets

Expenses

before

waiver

and

payments

affiliates

..........................

2.06%

2.36%

2.58%

2.42%

2.70%

2.51%

Expenses

net

waiver

and

payments

affiliates

..........................

0.89%

0.88%

0.89%

Net

investment

income

...............

8.59%

9.16%

7.48%

6.42%

5.14%

7.83%

Supplemental

data

Net

assets,

end

period

(000’s)

........

$7,983

$8,913

$1,281

$5,206

$1,676

$3,063

Portfolio

turnover

rate

................

22.32%

50.11%

80.93%

86.75%

58.11%

40.55%

The

amount

shown

for

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

Operations

for

the

period

due

the

timing

sales

and

repurchases

the

Fund’s

relation

income

earned

and/or

fluctuating

fair

value

the

investments

the

Fund.

Based

average

daily

outstanding.

Total

return

not

annualized

for

periods

less

than

one

year.

Ratios

are

annualized

for

periods

less

than

one

year.

Templeton

Income

Trust

Schedule

Investments

(unaudited),

June

30,

2026

Templeton

Sustainable

Emerging

Markets

Bond

Fund

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Industry

Principal

Amount

Value

Corporate

Bonds

0.0%

South

Africa

0.0%

K2016470219

South

Africa

Ltd.

Senior

Secured

Note

144A,

12/31/22

.....................

Broadline

Retail

188,190

—

Senior

Secured

Note

144A,

12/31/22

.....................

Broadline

Retail

55,416

EUR

—

K2016470260

South

Africa

Ltd.

Senior

Secured

Note

144A,

12/31/22

Broadline

Retail

237,804

—

Total

Corporate

Bonds

(Cost

301,035

)

........................................

—

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

83.8%

Benin

2.7%

Benin

Government

Bond

Senior

Bond

144A,

4.95

1/22/35

............

580,000

EUR

626,647

Brazil

12.2%

Brazil

Notas

Tesouro

Nacional

1/01/33

..................

4,370,000

BRL

703,349

1/01/35

..................

13,685,000

BRL

2,131,343

2,834,692

Chile

2.4%

Chile

Bonos

Tesoreria

Pesos

144A,

Reg

4/01/33

.............

495,000,000

CLP

555,040

Colombia

4.8%

Colombia

Titulos

Tesoreria

3/26/31

......................

4,640,500,000

COP

1,117,393

Ecuador

2.5%

Ecuador

Government

Bond

Senior

Bond

144A,

6.9

7/31/35

........

620,300

570,986

Egypt

1.2%

Egypt

Government

Bond

25.151

4/16/27

...............

4,300,000

EGP

87,832

21.762

2/17/28

...............

10,090,000

EGP

201,269

289,101

Hungary

4.8%

Hungary

Government

Bond

4.5

5/27/32

......................

353,900,000

HUF

1,106,644

Ivory

Coast

2.8%

Ivory

Coast

Government

Bond

Senior

Note

144A,

7.625

1/30/33

......

600,000

642,005

Mexico

4.8%

Mexican

Bonos

Desarr

Fixed

Rate

Senior

Bond

5/24/35

........

17,430,000

MXN

931,085

Mexico

Government

Bond

Senior

Bond

4.875

5/19/33

................

200,000

190,000

1,121,085

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

(continued)

Namibia

9.5%

Namibia

Government

Bond

9.5

7/15/35

.................

12,610,000

NAD

758,904

9.5

7/15/37

.................

25,280,000

NAD

1,455,546

2,214,450

Panama

4.5%

Panama

Government

Bond

Senior

Bond

6.875

1/31/36

.....

530,000

579,356

Senior

Bond

3/01/38

........

400,000

470,620

1,049,976

Peru

2.0%

Peru

Government

Bond

Senior

Bond

144A,

Reg

7.6

8/12/39

.......

1,460,000

PEN

457,981

Poland

2.5%

Poland

Government

Bond

10/25/34

2,235,000

PLN

590,835

Serbia

4.6%

Serbia

Treasury

Bonds

4.5

8/20/32

.................

61,640,000

RSD

576,637

5.25

7/27/35

................

51,160,000

RSD

496,201

1,072,838

Supranational

22.5%

Asian

Development

Bank

Senior

Note

6.72

2/08/28

................

130,510,000

INR

1,367,011

European

Bank

for

Reconstruction

Development

20.25

7/24/26

................

600,000,000

NGN

437,740

Reg

2/26/31

.................

9,400,000

MXN

340,362

European

Investment

Bank

Senior

Bond

Reg

6.5

9/28/32

4,770,000

ZAR

277,156

Senior

Bond

144A,

6.875

2/28/35

56,000,000

INR

574,574

International

Bank

for

Reconstruction

Development

Senior

Bond

7.07

6/26/29

......

10,400,000

MXN

586,117

Senior

Note

9/16/26

........

161,000,000

KZT

333,481

Senior

Note

14.5

4/25/28

......

106,000,000

KZT

221,437

International

Finance

Corp.

3/16/27

..................

420,000,000

NGN

308,020

Senior

Bond

1/22/36

........

3,630,000

ZAR

237,733

Senior

Note

13.825

10/09/26

....

6,600,000,000

UZS

555,988

5,239,619

Total

Foreign

Government

and

Agency

Securities

(Cost

18,500,698

)

..............

19,489,292

Escrows

and

Litigation

Trusts

0.0%

†

a,e

K2016470219

South

Africa

Ltd.,

Escrow

Account

......................

12,498

201

Total

Escrows

and

Litigation

Trusts

(Cost

–

)

...................................

201

Total

Long

Term

Investments

(Cost

18,801,733

)

................................

19,489,493

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Short

Term

Investments

13.3%

Industry

Principal

Amount

Value

Foreign

Government

and

Agency

Securities

4.7%

Egypt

4.7%

Egypt

Treasury

Bills

.13

7/07/26

................

30,975,000

EGP

630,210

.28

7/14/26

................

8,600,000

EGP

174,214

.18

8/18/26

................

1,275,000

EGP

25,358

.98

9/22/26

................

6,400,000

EGP

124,464

.61

10/13/26

...............

4,075,000

EGP

78,240

.64

1/12/27

................

3,150,000

EGP

57,081

1,089,567

Total

Foreign

Government

and

Agency

Securities

(Cost

1,091,457

)

...............

1,089,567

Money

Market

Funds

8.6%

United

States

8.6%

g,h

Franklin

Institutional

U.S.

Government

Money

Market

Fund

3.597

......

1,999,252

Total

Money

Market

Funds

(Cost

1,999,252

)

...................................

1,999,252

Total

Short

Term

Investments

(Cost

3,090,709

)

.................................

3,088,819

Total

Investments

(Cost

21,892,442

)

97.1

....................................

$22,578,312

Other

Assets,

less

Liabilities

2.9

.............................................

668,050

Net

Assets

100.0%

...........................................................

$23,246,362

The

principal

amount

stated

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

less

than

0.1%

net

assets.

Fair

valued

using

significant

unobservable

inputs.

See

Note

regarding

fair

value

measurements.

Defaulted

security

for

which

income

has

been

deemed

uncollectible.

See

Note

Security

was

purchased

pursuant

Rule

144A

Regulation

under

the

Securities

Act

1933.

144A

securities

may

sold

transactions

exempt

from

registration

only

qualified

institutional

buyers

public

offering

registered

under

the

Securities

Act

1933.

Regulation

securities

cannot

sold

the

United

States

without

either

effective

registration

statement

filed

pursuant

the

Securities

Act

1933,

pursuant

exemption

from

registration.

June

30,

2026,

the

aggregate

value

these

securities

was

$4,044,751,

representing

17.4%

net

assets.

supranational

organization

entity

formed

two

central

governments

through

international

treaties.

Non-income

producing.

The

rate

shown

represents

the

yield

period

end.

See

Note

3(f)

regarding

investments

affiliated

management

investment

companies.

The

rate

shown

the

annualized

seven-day

effective

yield

period

end.

Templeton

Income

Trust

Schedule

Investments

(unaudited)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

June

30,

2026

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

(

Forward

Exchange

Contracts

Currency

Counter-

party

Type

Quantity

Contract

Amount

Settlement

Date

Unrealized

Appreciation

Unrealized

Depreciation

OTC

Forward

Exchange

Contracts

Brazilian

Real

......

JPHQ

Buy

1,092,685

204,215

7/02/26

7,451

—

Brazilian

Real

......

JPHQ

Sell

1,092,685

216,751

7/02/26

5,085

—

Thai

Baht

.........

HSBK

Buy

4,925,000

147,676

7/02/26

576

—

Thai

Baht

.........

HSBK

Sell

4,925,000

150,482

7/02/26

2,230

—

Malaysian

Ringgit

...

GSCO

Buy

1,730,000

440,032

7/22/26

—

(

16,269

)

Thai

Baht

.........

HSBK

Sell

3,533,000

107,476

8/03/26

832

—

Mexican

Peso

......

BNDP

Buy

1,706,454

97,880

8/31/26

—

(

795

)

Mexican

Peso

......

HSBK

Buy

3,573,998

204,943

8/31/26

—

(

1,609

)

Mexican

Peso

......

BNDP

Buy

620,188

35,276

9/10/26

—

(

)

Mexican

Peso

......

HSBK

Buy

3,612,000

205,534

9/10/26

—

(

205

)

South

Korean

Won

CITI

Buy

548,000,000

360,757

9/16/26

—

(

6,094

)

South

Korean

Won

DBAB

Buy

274,000,000

180,233

9/16/26

—

(

2,902

)

Thai

Baht

.........

DBAB

Sell

4,199,000

129,002

9/16/26

1,789

—

Thai

Baht

.........

HSBK

Sell

4,761,000

146,182

9/16/26

1,942

—

Malaysian

Ringgit

...

GSCO

Buy

1,930,000

475,369

9/17/26

—

(

1,587

)

Malaysian

Ringgit

...

MSCO

Buy

7,080,000

1,744,272

9/17/26

—

(

6,253

)

Thai

Baht

.........

HSBK

Sell

4,925,000

148,120

10/01/26

—

(

1,282

)

Thai

Baht

.........

CITI

Sell

5,615,000

171,999

10/02/26

1,648

—

Thai

Baht

.........

HSBK

Sell

4,900,000

150,484

10/02/26

1,825

—

Thai

Baht

.........

CITI

Sell

5,586,000

171,996

10/05/26

2,474

—

Thai

Baht

.........

DBAB

Sell

4,194,000

128,976

10/05/26

1,697

—

Uruguayan

Peso

....

CITI

Buy

10,200,000

251,821

10/15/26

500

—

Uruguayan

Peso

....

CITI

Sell

10,200,000

249,024

10/15/26

—

(

3,297

)

Uruguayan

Peso

....

CITI

Buy

45,360,000

1,089,450

10/19/26

32,303

—

Uruguayan

Peso

....

CITI

Sell

9,550,000

233,052

10/19/26

—

(

3,120

)

Uruguayan

Peso

....

HSBK

Buy

7,600,000

182,364

10/19/26

5,585

—

Total

Forward

Exchange

Contracts

...................................................

$65,937

$(43,434)

Net

unrealized

appreciation

(depreciation)

............................................

$22,503

U.S.

dollars

unless

otherwise

indicated.

May

comprised

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Templeton

Income

Trust

Financial

Statements

Assets

and

Liabilities

June

30,

2026

(unaudited)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Assets:

Investments

securities:

Cost

Unaffiliated

issuers

.................................

$227,300,095

$2,231,294,568

$19,893,190

Cost

Non-controlled

affiliates

(Note

)

......................

17,817,523

605,562,534

1,999,252

Value

Unaffiliated

issuers

................................

$189,298,645

$2,316,677,406

$20,579,060

Value

Non-controlled

affiliates

(Note

)

......................

17,817,523

605,562,534

1,999,252

Cash

..................................................

1,369

—

Foreign

currency,

value

(cost

189,588

4,485,897

and

310,431

respectively)

............................................

189,247

4,483,430

313,265

Receivables:

Capital

sold

......................................

42,167

1,945,008

34,061

Dividends

and

interest

...................................

4,630,066

52,311,760

804,064

Foreign

tax

refund

.......................................

—

651

—

Deposits

with

brokers

for:

OTC

derivative

contracts

................................

2,031,164

24,028,197

—

Centrally

cleared

swap

contracts

..........................

136,184

4,692,034

32,771

Variation

margin

centrally

cleared

swap

contracts

.............

—

1,958

Unrealized

appreciation

OTC

forward

exchange

contracts

........

481,692

9,514,884

65,937

Total

assets

........................................

214,628,057

3,019,215,904

23,830,368

Liabilities:

Payables:

Capital

redeemed

.................................

183,524

2,087,278

456,457

Management

fees

.......................................

112,515

1,189,848

2,879

Distribution

fees

........................................

25,793

336,697

3,095

Transfer

agent

fees

......................................

94,864

1,444,352

157

Professional

fees

.......................................

67,690

50,526

48,395

Trustees'

fees

and

expenses

...............................

6,680

30,547

1,033

Variation

margin

centrally

cleared

swap

contracts

.............

12,186

419,838

—

Unrealized

depreciation

OTC

forward

exchange

contracts

........

3,292,528

33,161,225

43,434

Deferred

taxes

unrealized

appreciation

......................

123,598

—

25,649

Accrued

expenses

and

other

liabilities

.........................

57,796

792,560

2,907

Total

liabilities

.......................................

3,977,174

39,512,871

584,006

Net

assets,

value

...............................

$210,650,883

$2,979,703,033

$23,246,362

Net

assets

consist

of:

Paid-in

capital

...........................................

$873,957,015

$5,684,010,124

$27,292,411

Total

distributable

earnings

(losses)

...........................

(663,306,132)

(2,704,307,091)

(4,046,049)

Net

assets,

value

...............................

$210,650,883

$2,979,703,033

$23,246,362

Templeton

Income

Trust

Financial

Statements

Assets

and

Liabilities

(continued)

June

30,

2026

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

financial

statements.

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Class

Net

assets,

value

.....................................

$106,029,203

$1,417,955,021

$12,388,810

outstanding

......................................

15,417,008

199,361,918

2,322,004

Net

asset

value

per

................................

$6.88

$7.11

$5.34

Maximum

offering

price

per

(net

asset

value

per

.25

)

..............................................

$7.15

$7.39

$5.55

Class

Net

assets,

value

.....................................

$5,624,705

$28,270,116

$935,627

outstanding

......................................

818,642

3,947,770

175,353

Net

asset

value

and

maximum

offering

price

per

..........

$6.87

$7.16

$5.34

Class

Net

assets,

value

.....................................

$2,108,601

$69,938,370

$142,091

outstanding

......................................

306,146

9,832,306

26,610

Net

asset

value

and

maximum

offering

price

per

...........

$6.89

$7.11

$5.34

Class

R6:

Net

assets,

value

.....................................

$12,651,908

$334,740,044

$1,796,972

outstanding

......................................

1,839,432

47,401,536

336,651

Net

asset

value

and

maximum

offering

price

per

...........

$6.88

$7.06

$5.34

Advisor

Class:

Net

assets,

value

.....................................

$84,236,466

$1,128,799,482

$7,982,862

outstanding

......................................

12,213,287

159,718,331

1,484,863

Net

asset

value

and

maximum

offering

price

per

...........

$6.90

$7.07

$5.38

Redemption

price

equal

net

asset

value

less

contingent

deferred

sales

charges,

applicable.

Net

asset

value

per

may

not

recalculate

due

rounding.

Templeton

Income

Trust

Financial

Statements

Operations

for

the

six

months

ended

June

30,

2026

(unaudited)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

financial

statements.

Semiannual

Report

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Investment

income:

Dividends:

Non-controlled

affiliates

(Note

)

...........................

$254,860

$10,589,335

$30,676

Interest:

(net

foreign

taxes

$82,439,

$1,418,399

and

$5,015,

respectively)

Unaffiliated

issuers

......................................

8,559,599

81,436,712

1,151,760

Total

investment

income

.................................

8,814,459

92,026,047

1,182,436

Expenses:

Management

fees

(Note

)

.................................

700,047

7,785,386

106,075

Distribution

fees:

(Note

)

Class

..............................................

136,571

1,819,215

16,169

Class

..............................................

19,817

99,758

2,838

Class

..............................................

5,377

180,045

346

Transfer

agent

fees:

(Note

)

Class

..............................................

110,209

1,500,401

9,073

Class

..............................................

6,141

31,602

635

Class

..............................................

2,170

74,236

Class

.............................................

5,657

90,245

2,318

Advisor

Class

..........................................

80,337

1,139,812

6,616

Custodian

fees

..........................................

21,353

341,359

5,899

Reports

shareholders

fees

................................

22,016

203,636

4,944

Registration

and

filing

fees

..................................

34,044

91,043

51,841

Professional

fees

.........................................

71,539

62,413

57,367

Trustees'

fees

and

expenses

................................

18,783

203,182

2,433

Other

..................................................

13,358

68,364

10,205

Total

expenses

.......................................

1,247,419

13,690,697

276,858

Expenses

waived/paid

affiliates

(Note

and

)

............

(15,844)

(544,831)

(146,687)

Net

expenses

.......................................

1,231,575

13,145,866

130,171

Net

investment

income

..............................

7,582,884

78,880,181

1,052,265

Realized

and

unrealized

gains

(losses):

Net

realized

gain

(loss)

from:

Investments:

(net

foreign

taxes

$105,194,

$—

and

$25,527,

respectively)

Unaffiliated

issuers

....................................

679,469

12,505,921

(223,087)

Foreign

currency

transactions

..............................

(115,066)

1,494,946

(16,397)

Forward

exchange

contracts

...............................

(557,110)

(39,075,108)

67,706

Swap

contracts

.........................................

(189,377)

(1,188,308)

2,754

Net

realized

gain

(loss)

................................

(182,084)

(26,262,549)

(169,024)

Net

change

unrealized

appreciation

(depreciation)

on:

Investments:

Unaffiliated

issuers

....................................

473,584

17,918,112

(117,153)

Translation

other

assets

and

liabilities

denominated

foreign

currencies

...........................................

(41,568)

(960,882)

(2,791)

Forward

exchange

contracts

...............................

(2,241,772)

(5,935,485)

(102,599)

Swap

contracts

.........................................

96,335

(1,799,861)

(28,177)

Change

deferred

taxes

unrealized

appreciation

.............

65,513

(34)

5,672

Net

change

unrealized

appreciation

(depreciation)

..........

(1,647,908)

9,221,850

(245,048)

Net

realized

and

unrealized

gain

(loss)

..........................

(1,829,992)

(17,040,699)

(414,072)

Net

increase

(decrease)

net

assets

resulting

from

operations

........

$5,752,892

$61,839,482

$638,193

Templeton

Income

Trust

Financial

Statements

Changes

Net

Assets

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

integral

part

these

consolidated

financial

statements.

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

Increase

(decrease)

net

assets:

Operations:

Net

investment

income

............

$7,582,884

$15,253,103

$78,880,181

$176,905,524

Net

realized

gain

(loss)

............

(182,084)

(12,796,969)

(26,262,549)

(154,313,339)

Net

change

unrealized

appreciation

(depreciation)

.................

(1,647,908)

35,475,237

9,221,850

457,211,803

Net

increase

(decrease)

net

assets

resulting

from

operations

5,752,892

37,931,371

61,839,482

479,803,988

Distributions

shareholders:

Class

........................

(3,853,030)

(3,554,553)

(37,264,545)

(18,999,210)

Class

........................

(201,018)

(218,179)

(709,294)

(449,541)

Class

........................

(72,786)

(56,939)

(1,752,915)

(918,805)

Class

.......................

(477,368)

(439,528)

(9,518,871)

(5,378,087)

Advisor

Class

...................

(2,928,039)

(2,265,529)

(30,105,910)

(13,696,385)

Distributions

shareholders

from

tax

return

capital:

Class

........................

—

(4,841,079)

—

(69,051,642)

Class

........................

—

(297,147)

—

(1,633,832)

Class

........................

—

(77,548)

—

(3,339,348)

Class

.......................

—

(598,610)

—

(19,546,377)

Advisor

Class

...................

—

(3,085,508)

—

(49,778,801)

Total

distributions

shareholders

.....

(7,532,241)

(15,434,620)

(79,351,535)

(182,792,028)

Capital

transactions:

(Note

)

Class

........................

(5,300,638)

(13,491,855)

(58,721,453)

(160,235,956)

Class

........................

(843,730)

(2,327,573)

(5,407,888)

(15,014,339)

Class

........................

(152,944)

305,647

(3,647,263)

(10,192,036)

Class

.......................

(43,734)

(2,006,047)

(7,517,588)

(113,169,062)

Advisor

Class

...................

10,136,163

1,865,895

67,752,649

17,677,738

Total

capital

transactions

.......

3,795,117

(15,653,933)

(7,541,543)

(280,933,655)

Net

increase

(decrease)

net

assets

.....................

2,015,768

6,842,818

(25,053,596)

16,078,305

Net

assets:

Beginning

period

................

208,635,115

201,792,297

3,004,756,629

2,988,678,324

End

period

.....................

$210,650,883

$208,635,115

$2,979,703,033

$3,004,756,629

Templeton

Income

Trust

Financial

Statements

Changes

Net

Assets

(continued)

franklintempleton.com

The

accompanying

notes

are

integral

part

these

consolidated

financial

statements.

Semiannual

Report

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Six

Months

Ended

June

30,

2026

(unaudited)

Year

Ended

December

31,

2025

Increase

(decrease)

net

assets:

Operations:

Net

investment

income

.................................................

$1,052,265

$1,500,210

Net

realized

gain

(loss)

.................................................

(169,024)

159,419

Net

change

unrealized

appreciation

(depreciation)

...........................

(245,048)

2,083,433

Net

increase

(decrease)

net

assets

resulting

from

operations

................

638,193

3,743,062

Distributions

shareholders:

Class

.............................................................

(568,281)

(880,814)

Class

.............................................................

(40,247)

(51,431)

Class

.............................................................

(5,918)

(8,908)

Class

............................................................

(78,583)

(78,255)

Advisor

Class

........................................................

(426,463)

(562,454)

Total

distributions

shareholders

..........................................

(1,119,492)

(1,581,862)

Capital

transactions:

(Note

)

Class

.............................................................

(1,630,956)

4,821,150

Class

.............................................................

199,822

10,200

Class

.............................................................

13,236

13,580

Class

............................................................

390,540

698,397

Advisor

Class

........................................................

(696,869)

7,038,885

Total

capital

transactions

............................................

(1,724,227)

12,582,212

Net

increase

(decrease)

net

assets

...................................

(2,205,526)

14,743,412

Net

assets:

Beginning

period

.....................................................

25,451,888

10,708,476

End

period

..........................................................

$23,246,362

$25,451,888

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Organization

and

Significant

Accounting

Policies

Templeton

Income

Trust (Trust)

registered

under

the

Investment

Company

Act

1940

(1940

Act)

open-end

management

investment

company,

consisting

three separate

funds

(Funds).

The

Funds

the

accounting

and

reporting

guidance

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and

apply

the

specialized

accounting

and

reporting

guidance

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946.

The

Funds

offer

five classes

Class

and

Advisor

Class.

Class

automatically

convert

Class

monthly

basis,

after

they

have

been

held

for

years.

Each

class

may

differ

its

initial

sales

load,

contingent

deferred

sales

charges,

voting

rights

matters

affecting

single

class,

its

exchange

privilege

and

fees

due

differing

arrangements

for

distribution

and

transfer

agent

fees.

The

following

summarizes

the Funds'

significant

accounting

policies.

Financial

Instrument

Valuation

The Funds'

investments

financial

instruments

are

carried

fair

value

daily.

Fair

value

the

price

that

would

received

sell

asset

paid

transfer

liability

orderly

transaction

between

market

participants

the

measurement

date.

The Funds calculate the

net

asset

value

(NAV)

per

each

business

day

p.m.

Eastern

time

the

regularly

scheduled

the

New

York

Stock

Exchange

(NYSE),

whichever

earlier. Under

compliance

policies

and

procedures

approved

the

Trust’s

Board

Trustees

(the

Board),

the

Board

has

designated

the

Funds’

investment

manager

the

valuation

designee

and

has

responsibility

for

oversight

valuation.

The

investment

manager

assisted

the

Funds'

administrator

performing

this

responsibility,

including

leading

the

cross-

functional

Valuation

Committee

(VC).

The

Funds

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

determine

fair

value.

Debt

securities

generally

trade

the

over-the-counter

(OTC)

market rather

than

securities

exchange.

The

Funds'

pricing

services

use

multiple

valuation

techniques

determine

fair

value.

instances

where

sufficient

market

activity

exists,

the

pricing

services

may

utilize

market-based

approach

through

which

quotes

from

market

makers

are

used

determine

fair

value.

instances

where

sufficient

market

activity

may

not

exist

limited,

the

pricing

services

also

utilize

proprietary

valuation

models

which

may

consider

market

characteristics

such

benchmark

yield

curves,

credit

spreads,

estimated

default

rates,

anticipated

market

interest

rate

volatility,

coupon

rates,

anticipated

timing

principal

repayments,

underlying

collateral,

and

other

unique

security

features

order

estimate

the

relevant

cash

flows,

which

are

then

discounted

calculate

the

fair

value.

Securities

denominated

foreign

currency

are

converted

into

their

U.S.

dollar

equivalent

the

foreign

exchange

rate

effect

p.m.

Eastern

time

the

date

that

the

values

the

foreign

debt

securities

are

determined.

Investments

in open-end mutual

funds

are

valued

the

closing

NAV.

Certain

derivative

financial

instruments

are

centrally

cleared

trade

the

OTC

market.

The

Funds' pricing

services

use

various

techniques

including

industry

standard

option

pricing

models

and

proprietary

discounted

cash

flow

models

determine

the

fair

value

those

instruments.

The

Funds' net

benefit

obligation

under

the

derivative

contract,

measured

the

fair

value

the

contract,

included

net

assets.

The

Funds

have

procedures

determine

the

fair

value

financial

instruments

for

which

market

prices

are

not

reliable

readily

available.

Under

these

procedures,

the

Funds

primarily

employ

market-based

approach

which

may

use

comparable

assets

liabilities,

recent

transactions,

market

multiples,

and

other

relevant

information

for

the

investment

determine

the

fair

value

the

investment.

income-based

valuation

approach

may

also

used

which

the

anticipated

future

cash

flows

the

investment

are

discounted

calculate

fair

value.

Discounts

may

also

applied

due

the

nature

duration

any

restrictions

the

disposition

the

investments.

Due

the

inherent

uncertainty

valuations

such

investments,

the

fair

values

may

differ

significantly

from

the

values

that

would

have

been

used

had

active

market

existed.

Trading

securities

foreign

securities

stock

exchanges

and

OTC

markets

may

completed

before

p.m.

Eastern

time.

addition,

trading

certain

foreign

markets

may

not

take

place

every

Funds'

business

day.

Events

can occur

between

the

time

which

trading

foreign

security

completed

and

p.m.

Eastern

time

that

might

call

into

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

question

the

reliability

the

value

portfolio

security

held

the

Fund.

result,

differences

may

arise

between

the

value

the

Funds'

portfolio

securities

determined

the

foreign

market

and

the

latest

indications

value

p.m.

Eastern

time.

order

minimize

the

potential

for

these

differences,

independent

pricing

service

may

used

adjust

the

value

the

Funds'

portfolio

securities

the

latest

indications

fair

value

p.m.

Eastern

time.

When

the

last

day

the

reporting

period

non-business

day,

certain

foreign

markets

may

open

those

days

that

the

Funds'

NAV

not

calculated,

which

could

result

differences

between

the

value

the

Funds'

portfolio

securities

the

last

business

day

and

the

last

calendar

day

the

reporting

period.

Any

security

valuation

changes

due

open

foreign

market

are

adjusted

and

reflected

the

Funds

for

financial

reporting

purposes.

Foreign

Currency

Translation

Portfolio

securities

and

other

assets

and

liabilities

denominated

foreign

currencies

are

translated

into

U.S.

dollars

based

the

exchange

rate

such

currencies

against

U.S.

dollars

the

date

valuation.

The

Funds

may

enter

into

foreign

currency

exchange

contracts

facilitate

transactions

denominated

foreign

currency.

Purchases

and

sales

securities,

income

and

expense

items

denominated

foreign

currencies

are

translated

into

U.S.

dollars

the

exchange

rate

effect

the

transaction

date.

Portfolio

securities

and

assets

and

liabilities

denominated

foreign

currencies

contain

risks

that

those

currencies

will

decline

value

relative

the

U.S.

dollar.

Occasionally,

events

may

impact

the

availability

reliability

foreign

exchange

rates

used

convert

the

U.S.

dollar

equivalent

value.

such

event

occurs,

the

foreign

exchange

rate

will

valued

fair

value

using

procedures

established

and

approved

the

Board.

The

Funds

not

separately

report

the

effect

changes

foreign

exchange

rates

from

changes

market

prices

securities

held.

Such

changes

are

included

net

realized

and

unrealized

gain

loss

from

investments

the

Statements

Operations.

Realized

foreign

exchange

gains

losses

arise

from

sales

foreign

currencies,

currency

gains

losses

realized

between

the

trade

and

settlement

dates

securities

transactions

and

the

difference

between

the

recorded

amounts

dividends,

interest,

and

foreign

withholding

taxes

and

the

U.S.

dollar

equivalent

the

amounts

actually

received

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

foreign

exchange

rates

foreign

denominated

assets

and

liabilities

other

than

investments

securities

held

the

end

the

reporting

period.

Derivative

Financial

Instruments

Certain

all

Funds

invested

derivative

financial

instruments

order

manage

risk

gain

exposure

various

other

investments

markets.

Derivatives

are

financial

contracts

based

underlying

notional

amount,

require

initial

investment

initial

net

investment

that

smaller

than

would

normally

required

have

similar

response

changes

market

factors,

and

require

permit

net

settlement.

Derivatives

contain

various

risks

including

the

potential

inability

the

counterparty

fulfill

their

obligations

under

the

terms

the

contract,

the

potential

for

illiquid

secondary

market,

and/or

the

potential

for

market

movements

which

expose

the

Fund

gains

losses

excess

the

amounts

shown

the

Statements

Assets

and

Liabilities.

Realized

gain

and

loss

and

unrealized

appreciation

and

depreciation

these

contracts

for

the

period

are

included

the

Statements

Operations.

Derivative

counterparty

credit

risk

managed

through

formal

evaluation

the

creditworthiness

all

potential

counterparties.

Certain

all

Funds

attempt

reduce

their

exposure

counterparty

credit

risk

OTC

derivatives,

whenever

possible,

entering

into

International

Swaps

and

Derivatives

Association

(ISDA)

master

agreements

with

certain

counterparties.

These

agreements

contain

various

provisions,

including

but

not

limited

collateral

requirements,

events

default,

early

termination.

Termination

events

applicable

the

counterparty

include

certain

deteriorations

the

credit

quality

the

counterparty.

Termination

events

applicable

the

Funds

include

failure

the

Funds

maintain

certain

net

asset

levels

and/or

limit

the

decline

net

assets

over

various

periods

time.

the

event

default

early

termination,

the

ISDA

master

agreement

gives

the

non-defaulting

party

the

right

net

and

close-out

all

transactions

traded,

whether

not

arising

under

the

ISDA

agreement,

one

net

amount

payable

Organization

and

Significant

Accounting

Policies

(continued)

Financial

Instrument

Valuation

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

one

counterparty

the

other.

However,

absent

event

default

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

the

Statements

Assets

and

Liabilities.

Early

termination

the

counterparty

may

result

immediate

payment

the

Funds

any

net

liability

owed

that

counterparty

under

the

ISDA

agreement.

June

30,

2026,

Templeton

Sustainable

Emerging

Markets

Bond

Fund

had

OTC

derivatives

net

liability

position

counterparty

$24,925.

Collateral

requirements

differ

type

derivative.

Collateral

initial

margin

requirements

are

set

the

broker

exchange

clearing

house

for

exchange

traded

and

centrally

cleared

derivatives.

Initial

margin

deposited

held

the

exchange

the

broker and

can

the

form

cash

and/or

securities.

For

OTC

derivatives

traded

under

ISDA

master

agreement,

posting

collateral

required

either

the

Fund

the

applicable

counterparty

the

total

net

exposure

all

OTC

derivatives

with

the

applicable

counterparty

exceeds

the

minimum

transfer

amount,

which

typically

ranges

from

$100,000

$250,000,

and

can

vary

depending

the

counterparty

and

the

type

agreement.

Generally,

collateral

determined

the

Fund

business

each

day

and

any

additional

collateral

required

due

changes

derivative

values

may

delivered

the

Fund

the

counterparty

the

business

day,

within

few

business

days.

Collateral

pledged

and/or

received

the

Fund

for

OTC

derivatives,

any,

held

segregated

accounts

with

the

Fund's

custodian/counterparty

broker

and

can

the

form

cash

and/or

securities.

Unrestricted

cash

may

invested

according

the

Funds'

investment

objectives.

the

extent

that

the

amounts

due

the

Fund

from

its

counterparties

are

not

subject

collateralization

are

not

fully

collateralized,

the

Fund

bears

the

risk

loss

from

counterparty

non-performance.

Certain

all

Funds

entered

into

OTC forward

exchange

contracts

primarily

manage exposure

certain

foreign

currencies.

forward

exchange

contract

agreement

between

the

Fund

and

counterparty

buy

sell

foreign

currency at

specific

exchange

rate

future

date. Forward

exchange

contracts

outstanding

period

end,

any,

are

listed

the

Funds'

Schedules

Investments.

Certain

all

Funds entered

into

interest

rate

swap

contracts

primarily

manage

interest

rate

risk.

interest

rate

swap

agreement

between

the

Fund

and

counterparty

exchange

cash

flows

based

the

difference

between

two

interest

rates,

applied

notional

amount.

These

agreements

may

privately

negotiated

the

over-the-

counter

market

(OTC

interest

rate

swaps)

may

executed

registered

exchange

(centrally

cleared

interest

rate

swaps).

For

centrally

cleared

interest

rate

swaps,

required

initial

margins

are

pledged

the

Fund,

and

the

daily

change

fair

value

accounted

for

variation

margin

payable

receivable

the Statements

Assets

and

Liabilities.

Over

the

term

the

contract,

contractually

required

payments

paid

and

received

are

accrued

daily

and

recorded

unrealized

appreciation or

depreciation

until

the

payments

are

made,

which

time

they

are

realized.

Interest

rate

swap

contracts

outstanding

period

end,

any,

are

listed

the

Funds'

Schedules

Investments.

See

Note

regarding

other

derivative

information.

Income

and

Deferred

Taxes

is each

Fund's

policy

qualify

regulated

investment

company

under

the

Internal

Revenue

Code. Each

Fund

intends

distribute

shareholders

substantially

all

its

taxable

income

and

net

realized

gains

relieve

from

federal

income

and excise

taxes.

result,

provision

for

U.S.

federal

income

taxes

required.

The

Funds

may

subject

foreign

taxation

income

received,

capital

gains

the

sale

securities

and

certain

foreign

currency

transactions

the

foreign

jurisdictions

which

the

Funds

invest.

Foreign

taxes,

any,

are

recorded

based

the

tax

regulations

and

rates

that

exist

the

foreign

markets

which

the

Funds

invest.

When

capital

gain

tax

determined

apply,

certain

all

Funds

record

estimated

deferred

tax

liability

amount

that

would

payable

the

securities

were

disposed

the

valuation

date.

Each

Fund

may

recognize

income

tax

liability

its

uncertain

tax

positions

under

U.S.

GAAP

when

the

uncertain

tax

position

has

less

than

50%

probability

that

will

sustained

upon

examination

the

tax

authorities

based

its

technical

merits.

June

30,

2026, each

Fund

has

determined

that

tax

liability

required

its

financial

statements

uncertain

tax

positions

for

any

open

tax

years

(or

expected

taken

future

tax

years).

The

Funds'

federal

and

state

income

and

federal

Organization

and

Significant

Accounting

Policies

(continued)

Derivative

Financial

Instruments

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

excise

tax

returns

for

the

prior

three

fiscal

years

are

subject

examination

the

Internal

Revenue

Service

and

state

departments

revenue.

Security

Transactions,

Investment

Income,

Expenses

and

Distributions

Security

transactions

are

accounted

for

trade

date.

Realized

gains

and

losses

security

transactions

are

determined

specific

identification

basis.

Interest

income

(including

interest

income

from

payment-in-kind

securities,

any)

and

estimated

expenses

are

accrued

daily.

Amortization

premium

and

accretion

discount

debt

securities

are

included

interest

income.

Distributions

shareholders

are

recorded

the

ex-dividend

date.

Distributable

earnings

are

determined

according

income

tax

regulations

(tax

basis)

and

may

differ

from

earnings

recorded

accordance

with

U.S.

GAAP.

These

differences

may

permanent

temporary.

Permanent

differences

are

reclassified

among

capital

accounts

reflect

their

tax

character.

These

reclassifications

have

impact

net

assets

the

results

operations.

Temporary

differences

are

not

reclassified,

they

may

reverse

subsequent

periods.

Common

expenses

incurred

the

Trust

are

allocated

among

the

Funds

based

the

ratio

net

assets

each

Fund

the

combined

net

assets

the

Trust

based

the

ratio

number

shareholders

each

Fund

the

combined

number

shareholders

the

Trust.

Fund

specific

expenses

are

charged

directly

the

Fund

that

incurred

the

expense.

Realized

and

unrealized

gains

and

losses

and

net

investment

income,

excluding

class

specific

expenses,

are

allocated

daily

each

class

based

upon

the

relative

proportion

net

assets

each

class.

Differences

per

distributions

class

are

generally

due

differences

class

specific

expenses.

Inflation-indexed

bonds

are

adjusted

for

inflation

through

periodic

increases

decreases

the

security's

interest

accruals,

face

amount,

principal

redemption

value,

amounts

corresponding

the

rate

inflation

measured

index.

Any

increase

decrease

the

face

amount

principal

redemption

value

will

included

interest

income in

the

Statements of

Operations.

Accounting

Estimates

The

preparation

financial

statements

accordance

with

U.S.

GAAP

requires

management

make

estimates

and

assumptions

that

affect

the

reported

amounts

assets

and

liabilities

the

date

the

financial

statements

and

the

amounts

income

and

expenses

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates.

Guarantees

and

Indemnifications

Under

the Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

the Trust against

certain

liabilities

arising

out

the

performance

their

duties

the

Trust.

Additionally,

the

normal

course

business,

the Trust,

behalf

the

Funds, enters

into

contracts

with

service

providers

that

contain

general

indemnification

clauses.

The Trust's

maximum

exposure

under

these

arrangements

unknown

this

would

involve

future

claims

that

may

made

against

the Trust

that

have

not

yet

occurred.

Currently,

the Trust

expects

the

risk

loss

remote.

Organization

and

Significant

Accounting

Policies

(continued)

Income

and

Deferred

Taxes

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Beneficial

Interest

June

30,

2026,

there

were

unlimited

number

authorized

(without

par value).

Transactions

the

Funds'

were

follows:

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Amount

Class

Six

Months

ended

June

30,

2026

sold

...................................

712,407

$4,994,370

7,308,597

$52,965,475

issued

reinvestment

distributions

..........

510,032

3,553,638

4,886,889

35,195,766

redeemed

...............................

(1,986,826)

(13,848,646)

(20,407,604)

(146,882,694)

Net

increase

(decrease)

..........................

(764,387)

$(5,300,638)

(8,212,118)

$(58,721,453)

Year

ended

December

31,

2025

sold

...................................

1,469,704

$9,815,010

14,697,707

$102,675,502

issued

reinvestment

distributions

..........

1,146,912

7,651,678

11,898,549

83,222,185

redeemed

...............................

(4,669,973)

(30,958,543)

(49,645,561)

(346,133,643)

Net

increase

(decrease)

..........................

(2,053,357)

$(13,491,855)

(23,049,305)

$(160,235,956)

Class

Six

Months

ended

June

30,

2026

sold

...................................

22,992

$160,231

296,904

$2,163,011

issued

reinvestment

distributions

..........

28,223

196,558

96,806

702,158

redeemed

..............................

(172,575)

(1,200,519)

(1,138,910)

(8,273,057)

Net

increase

(decrease)

..........................

(121,360)

$(843,730)

(745,200)

$(5,407,888)

Year

ended

December

31,

2025

sold

...................................

87,197

$571,942

556,395

$3,907,239

issued

reinvestment

distributions

..........

76,264

507,151

293,469

2,061,676

redeemed

..............................

(512,767)

(3,406,666)

(2,997,813)

(20,983,254)

Net

increase

(decrease)

..........................

(349,306)

$(2,327,573)

(2,147,949)

$(15,014,339)

Class

Six

Months

ended

June

30,

2026

sold

...................................

16,176

$113,146

522,738

$3,775,668

issued

reinvestment

distributions

..........

10,396

72,537

243,035

1,750,417

redeemed

...............................

(48,005)

(338,627)

(1,274,089)

(9,173,348)

Net

increase

(decrease)

..........................

(21,433)

$(152,944)

(508,316)

$(3,647,263)

Year

ended

December

31,

2025

sold

...................................

282,466

$1,866,763

1,019,396

$7,088,545

issued

reinvestment

distributions

..........

19,974

133,886

608,057

4,252,686

redeemed

...............................

(260,905)

(1,695,002)

(3,092,545)

(21,533,267)

Net

increase

(decrease)

..........................

41,535

$305,647

(1,465,092)

$(10,192,036)

Class

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Amount

Class

Six

Months

ended

June

30,

2026

sold

...................................

145,351

$1,019,158

5,907,149

$42,395,265

issued

reinvestment

distributions

..........

65,093

453,459

1,155,918

8,267,435

redeemed

...............................

(217,382)

(1,516,351)

(8,046,498)

(58,180,288)

Net

increase

(decrease)

..........................

(6,938)

$(43,734)

(983,431)

$(7,517,588)

Year

ended

December

31,

2025

sold

...................................

392,488

$2,578,277

12,336,038

$84,763,189

issued

reinvestment

distributions

..........

145,146

967,213

3,311,671

22,991,258

redeemed

...............................

(836,505)

(5,551,537)

(32,089,834)

(220,923,509)

Net

increase

(decrease)

..........................

(298,871)

$(2,006,047)

(16,442,125)

$(113,169,062)

Advisor

Class

Advisor

Class

Six

Months

ended

June

30,

2026

sold

...................................

3,554,115

$24,970,990

21,380,608

$154,080,798

issued

reinvestment

distributions

..........

399,724

2,792,803

4,153,643

29,714,338

redeemed

...............................

(2,516,428)

(17,627,630)

(16,198,416)

(116,042,487)

Net

increase

(decrease)

..........................

1,437,411

$10,136,163

9,335,835

$67,752,649

Year

ended

December

31,

2025

sold

...................................

7,161,127

$48,283,703

47,108,389

$323,128,396

issued

reinvestment

distributions

..........

756,506

5,068,246

8,987,389

62,551,693

redeemed

...............................

(7,694,912)

(51,486,054)

(53,448,719)

(368,002,351)

Net

increase

(decrease)

..........................

222,721

$1,865,895

2,647,059

$17,677,738

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Amount

Class

Six

Months

ended

June

30,

2026

sold

..................................................................

503,207

$2,741,241

issued

reinvestment

distributions

.........................................

71,670

375,328

redeemed

..............................................................

(883,530)

(4,747,525)

Net

increase

(decrease)

.........................................................

(308,653)

$(1,630,956)

Year

ended

December

31,

2025

sold

..................................................................

1,132,541

$6,113,780

issued

reinvestment

distributions

.........................................

104,408

552,544

redeemed

..............................................................

(353,668)

(1,845,174)

Net

increase

(decrease)

.........................................................

883,281

$4,821,150

Class

Beneficial

Interest

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Amount

Class

Six

Months

ended

June

30,

2026

sold

..................................................................

60,404

$328,832

issued

reinvestment

distributions

.........................................

7,550

39,550

redeemed

.............................................................

(31,244)

(168,560)

Net

increase

(decrease)

.........................................................

36,710

$199,822

Year

ended

December

31,

2025

sold

..................................................................

42,524

$226,880

issued

reinvestment

distributions

.........................................

9,546

50,249

redeemed

.............................................................

(49,650)

(266,929)

Net

increase

(decrease)

.........................................................

2,420

$10,200

Class

Six

Months

ended

June

30,

2026

sold

..................................................................

1,444

$8,098

issued

reinvestment

distributions

.........................................

1,085

5,689

redeemed

..............................................................

(105)

(551)

Net

increase

(decrease)

.........................................................

2,424

$13,236

Year

ended

December

31,

2025

sold

..................................................................

977

$5,285

issued

reinvestment

distributions

.........................................

1,616

8,515

redeemed

..............................................................

(41)

(220)

Net

increase

(decrease)

.........................................................

2,552

$13,580

Class

Six

Months

ended

June

30,

2026

sold

..................................................................

167,984

$918,475

issued

reinvestment

distributions

.........................................

14,994

78,583

redeemed

..............................................................

(111,104)

(606,518)

Net

increase

(decrease)

.........................................................

71,874

$390,540

Year

ended

December

31,

2025

sold

..................................................................

164,903

$879,576

issued

reinvestment

distributions

.........................................

14,813

78,255

redeemed

..............................................................

(50,665)

(259,434)

Net

increase

(decrease)

.........................................................

129,051

$698,397

Advisor

Class

Beneficial

Interest

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Transactions

with

Affiliates

Effective

August

17,

2026,

Franklin

Resources,

Inc.

was

renamed

Franklin

Templeton,

Inc.

Franklin

Templeton,

Inc.

the

holding

company

for

various

subsidiaries.

Certain

officers

and

trustees

the Trust are

also

officers

and/or

directors

the

following

subsidiaries:

Management

Fees

Templeton

Global

Bond

Enhanced

Fund

pays

investment

management

fee,

calculated

daily

and

paid

monthly, to

Advisers

based

the

average

daily

net

assets

the

Fund

follows:

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Amount

Advisor

Class

Six

Months

ended

June

30,

2026

sold

..................................................................

887,777

$4,898,435

issued

reinvestment

distributions

.........................................

74,773

394,610

redeemed

..............................................................

(1,114,061)

(5,989,914)

Net

increase

(decrease)

.........................................................

(151,511)

$(696,869)

Year

ended

December

31,

2025

sold

..................................................................

2,013,356

$10,485,985

issued

reinvestment

distributions

.........................................

103,315

550,565

redeemed

..............................................................

(755,778)

(3,997,665)

Net

increase

(decrease)

.........................................................

1,360,893

$7,038,885

May

include

portion

Class

that

were

automatically

converted

Class

Subsidiary

Affiliation

Franklin

Advisers,

Inc.

(Advisers)

Investment

manager

Templeton

Asset

Management

Ltd

(Asset

Management)

Subadvisor

Franklin

Templeton

Services,

LLC

(FT

Services)

Administrative

manager

Franklin

Distributors,

LLC

(Distributors)

Principal

underwriter

Franklin

Templeton

Investor

Services,

LLC

(Investor

Services)

Transfer

agent

Annualized

Fee

Rate

Net

Assets

0.670%

and

including

$200

million

0.620%

Over

$200

million,

and

including

$1.3

billion

0.600%

Over

$1.3

billion,

and

including

$2.5

billion

0.585%

Over

$2.5

billion,

and

including

billion

0.575%

Over

billion,

and

including

$10

billion

0.565%

excess

$10

billion

Beneficial

Interest

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Templeton

Global

Bond

Fund pays

investment

management fee,

calculated

daily

and

paid

monthly,

to Advisers based

on the

average

daily

net

assets

the

Fund

follows:

Templeton

Sustainable

Emerging

Markets

Bond

Fund pays

investment

management fee,

calculated

daily

and

paid

monthly,

to Advisers based

on the

average

daily

net

assets

the

Fund

follows:

For

the

period

ended

June

30,

2026,

each

Fund's

annualized

gross

effective

investment

management

fee

rate

based

average

daily

net

assets

was

follows:

Under a

subadvisory

agreement,

Asset

Management, an

affiliate

Advisers,

provides

subadvisory

services

to Templeton

Sustainable

Emerging

Markets

Bond

Fund.

The

subadvisory

fee

is paid

Advisers,

based

the Fund's

average

daily

net

assets,

and

not an

additional

expense

the

Fund.

Administrative

Fees

Under

agreement

with

Advisers,

Services

provides

administrative

services

the

Funds.

The

fee

paid

Advisers

based

each

the

Funds'

average

daily

net

assets,

and

not

additional

expense

the

Funds.

Distribution

Fees

The

Board

has

adopted

distribution

plans

for

each

class,

with

the

exception

Class

and

Advisor

Class

shares,

pursuant

Rule

12b-1

under

the

1940

Act.

Under

the

Funds'

Class

reimbursement

distribution

plans,

the

Funds

reimburse

Distributors

for

costs

incurred

connection

with

the

servicing,

sale

and

distribution

of each

Fund's

the

maximum

Annualized

Fee

Rate

Net

Assets

0.650%

and

including

$200

million

0.585%

Over

$200

million,

and

including

$700

million

0.550%

Over

$700

million,

and

including

$1.2

billion

0.525%

Over

$1.2

billion,

and

including

$1.3

billion

0.475%

Over

$1.3

billion,

and

including

$35

billion

0.470%

Over

$35

billion,

and

including

$50

billion

0.465%

Over

$50

billion,

and

including

$65

billion

0.460%

Over

$65

billion,

and

including

$80

billion

0.455%

excess

$80

billion

Annualized

Fee

Rate

Net

Assets

0.850%

and

including

$500

million

0.800%

Over

$500

million,

and

including

billion

0.750%

Over

billion

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Gross

effective

investment

management

fee

rate

........

0.667%

0.519%

0.850%

Transactions

with

Affiliates

(continued)

Management

Fees

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

annual

plan

rate.

Under

the

Class

reimbursement

distribution

plans,

costs

exceeding

the

maximum

for

the

current

plan

year

cannot

reimbursed

subsequent

periods.

addition,

under

the

Funds'

Class

and

R compensation

distribution

plans,

the

Funds

pay

Distributors

for

costs

incurred

connection

with

the

servicing,

sale

and

distribution

of each

Fund's

the

maximum

annual

plan

rate

for

each

class.

The

plan

year,

for

purposes

monitoring

compliance

with

the

maximum

annual

plan

rates,

February

through

January

for

each

Fund.

The

maximum

annual

plan

rates,

based

the

average

daily

net

assets,

for

each

class,

are

follows:

Sales

Charges/Underwriting

Agreements

Front-end

sales

charges

and

contingent

deferred

sales

charges

(CDSC)

not

represent

expenses

the

Funds.

These

charges

are

deducted

from

the

proceeds

sales

fund

prior

investment

from

redemption

proceeds

prior

remittance,

applicable.

Distributors

has

advised

the

Funds

the

following

commission

transactions

the

sales

and

redemptions

the

Funds'

for

the

period:

Transfer

Agent

Fees

Each

class

pays

transfer

agent

fees,

calculated

monthly

and

paid

monthly, to

Investor

Services

for

its

performance

shareholder

servicing

obligations. The

fees

are based

fixed

margin

earned

Investor

Services

and

are allocated

the Funds

based

upon

relative

assets

and

relative

transactions. In

addition,

each

class reimburses

Investor

Services

for

out

pocket

expenses

incurred

and,

except

for

Class

R6, reimburses

shareholder

servicing

fees

paid

third

parties.

These

fees

paid

third

parties

are

accrued

and

allocated

daily

based

upon

their

relative

proportion

such

classes'

aggregate

net

assets.

Class

pays

Investor

Services

transfer

agent

fees

allocated

specifically

that

class

based

upon

its

relative

assets

and

relative

transactions.

For

the

period

ended

June

30,

2026,

the Funds

paid

transfer

agent

fees

noted

the

Statements of

Operations

which

the

following

amounts

were

retained

Investor

Services:

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Class

...............................

0.25%

Class

...............................

0.65%

Class

...............................

0.50%

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Sales

charges

retained

net

commissions

paid

unaffiliated

brokers/dealers

..................

$450

$5,603

$370

CDSC

retained

...........................

$363

$4,788

$42

Transactions

with

Affiliates

(continued)

Distribution

Fees

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Investments

Affiliated

Management

Investment

Companies

Certain

all

Funds

invest

one

affiliated

management

investment

companies.

defined

the

1940

Act,

investment

deemed

“Controlled

Affiliate”

fund

when

fund

owns,

either

directly

indirectly,

25%

the

affiliated

fund’s

outstanding

has

the

power

exercise

control

over

management

policies

such

fund.

The

Funds

not

invest

for

purposes

exercising

controlling

influence

over

the

management

policies.

Management

fees

paid

the

Funds

are

waived

assets

invested

the

affiliated

management

investment

companies,

noted

the

Statements

Operations,

amount

not

exceed

the

management

and

administrative

fees,

applicable, paid

directly

indirectly

each

affiliate.

During

the

period

ended

June

30,

2026,

investments

affiliated

management

investment

companies

were

follows:

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Transfer

agent

fees

........................

$79,642

$869,164

$9,748

Value

Beginning

Period

Purchases

Sales

Realized

Gain

(Loss)

Net

Change

Unrealized

Appreciation

(Depreciation)

Value

End

Period

Number

Held

End

Period

Investment

Income

Templeton

Global

Bond

Enhanced

Fund

Non-Controlled

Affiliates

Dividends

Franklin

Institutional

U.S.

Government

Money

Market

Fund,

3.597%

............

$10,360,405

$40,391,176

$(32,934,058)

$—

$17,817,523

17,817,523

$254,860

Total

Affiliated

Securities

...

$10,360,405

$40,391,176

$(32,934,058)

$—

$17,817,523

$254,860

Templeton

Global

Bond

Fund

Non-Controlled

Affiliates

Dividends

Franklin

Institutional

U.S.

Government

Money

Market

Fund,

3.597%

............

$488,003,039

$359,825,740

$(242,266,245)

$—

$605,562,534

605,562,534

$10,589,335

Total

Affiliated

Securities

...

$488,003,039

$359,825,740

$(242,266,245)

$—

$605,562,534

$10,589,335

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Non-Controlled

Affiliates

Dividends

Franklin

Institutional

U.S.

Government

Money

Market

Fund,

3.597%

............

$1,078,828

$11,190,632

$(10,270,208)

$—

$1,999,252

1,999,252

$30,676

Total

Affiliated

Securities

...

$1,078,828

$11,190,632

$(10,270,208)

$—

$1,999,252

$30,676

Transactions

with

Affiliates

(continued)

Transfer

Agent

Fees

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Waiver

and

Expense

Reimbursements

Advisers has contractually

agreed

advance

waive

limit

its fees

and

assume

its

own

expense

certain

expenses

otherwise

payable

by Templeton

Sustainable

Emerging

Markets

Bond

Fund

that

the

operating expenses

(excluding

interest

expense,

distribution

fees

and acquired

fund

fees

and

expenses and

certain

non-routine

expenses

costs,

including

those

relating

litigation,

indemnification,

reorganizations,

and

liquidations)

for

each

class

the

Fund

not

exceed 0.89% based

the

average

net

assets

each

class

until April

30,

2027.

Total

expenses

waived

paid

are

not

subject

recapture

subsequent

the

Fund's

fiscal

year

end.

Transfer

agent

fees

Class

the

Funds

have

been

capped

that

transfer

agent

fees

for

that

class

not

exceed

0.03%

based

the

average

net

assets

the

class

until

April

30,

2027.

Other

Affiliated

Transactions

June

30,

2026,

Advisers owned

18.1

Templeton

Sustainable

Emerging

Markets

Bond

Fund

outstanding

shares.

Income

Taxes

For

tax

purposes,

capital

losses

may

carried

over

offset

future

capital

gains.

December

31,

2025,

the

capital

loss

carryforwards

were

follows:

For

tax

purposes,

the

Funds

may

elect

defer

any

portion

post-October

capital

loss

late-year

ordinary

loss

the

first

day

the

following

fiscal

year.

At December

31,

2025,

the

deferred

losses

were

follows:

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Capital

loss

carryforwards

not

subject

expiration:

Short

term

.............................

10,422,567

112,726,378

1,219,927

Long

term

.............................

570,626,493

2,594,080,403

2,746,103

Total

capital

loss

carryforwards

............

$581,049,060

$2,706,806,781

$3,966,030

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Late-year

ordinary

loss

..........................................................

$1,136,720

$22,368,320

Transactions

with

Affiliates

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

June

30,

2026,

the

cost

investments

and

net

unrealized

appreciation

(depreciation) for

income

tax

purposes

were

follows:

Differences

between

income

and/or

capital

gains

determined

book

basis

and

tax

basis

are

primarily

due

differing

treatments

foreign

currency

transactions,

wash

sales,

foreign

capital

gains

tax,

payments-in-kind,

bond

discounts

and

premiums,

tax

straddles

and

derivative

financial

instruments.

Investment

Transactions

Purchases

and

sales

investments

(excluding

short

term

securities)

for

the

period

ended

June

30,

2026,

were

follows:

Credit

Risk

and

Defaulted

Securities

June

30,

2026, certain

all

Funds had a

portion of their

portfolio

invested

high

yield

other

securities

rated

below

investment

grade

and

unrated

securities.

These

securities

may

sensitive

economic

conditions

causing

greater

price

volatility

and

are

potentially

subject

greater

risk

loss

due

default

than

higher

rated

securities.

Certain

all

Funds held

defaulted

securities

and/or

other

securities

for

which

the

income

has

been

deemed

uncollectible.

June

30,

2026

the

aggregate

value

these

securities

for

Templeton

Global

Bond

Enhanced

Fund

and

Templeton

Sustainable

Emerging

Markets

Bond

Fund

was

$0,

representing

0.0%

each

Fund's

net

assets.

The

Funds

discontinue

accruing

income

securities

for

which

income

has

been

deemed

uncollectible

and

provide

estimate

for

losses

interest

receivable.

The

securities

have

been

identified

the

accompanying

Schedules

Investments.

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Cost

investments

.......................

$285,056,125

$2,839,476,205

$22,404,839

Unrealized

appreciation

.....................

$15,324,827

$176,024,756

$1,224,841

Unrealized

depreciation

.....................

(96,269,304)

(123,580,400)

(1,109,796)

Net

unrealized

appreciation

(depreciation)

.......

$(80,944,477)

$52,444,356

$115,045

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Purchases

..............................

$12,319,901

$—

$4,559,203

Sales

..................................

$18,603,429

$169,669,485

$6,289,471

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Credit

risk

.....................................

34.8%

21.4%

38.8%

Income

Taxes

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Concentration

Risk

Investing

foreign

securities

may

include

certain

risks

and

considerations

not

typically

associated

with

investing

U.S.

securities,

such

fluctuating

currency

values

and

changing

local,

regional

and

global

economic,

political

and

social

conditions,

which

may

result

greater

market

volatility.

Political

and

financial

uncertainty

many

foreign

regions

may

increase

market

volatility

and

the

economic

risk

investing

foreign

securities.

addition,

certain

foreign

securities

may

not

liquid

U.S.

securities.

Ongoing

threatened

military

conflicts

throughout

the

world

may

cause

significant

market

disruptions

and

volatility.

The

hostilities

and

sanctions

resulting

from

those

conflicts

may

also

have

significant

impact

certain

investments

the

Fund

well

the

Fund’s

performance

and

liquidity.

Other

Derivative

Information

June

30,

2026,

investments

derivative

contracts

are

reflected

the

Statements

Assets

and

Liabilities

follows:

Asset

Derivatives

Liability

Derivatives

Derivative

Contracts

Not

Accounted

for

Hedging

Instruments

Statement

Assets

and

Liabilities

Location

Fair

Value

Statement

Assets

and

Liabilities

Location

Fair

Value

Templeton

Global

Bond

Enhanced

Fund

Interest

rate

contracts

.......

Variation

margin

centrally

cleared

swap

contracts

—

Variation

margin

centrally

cleared

swap

contracts

193,684

Foreign

exchange

contracts

Unrealized

appreciation

OTC

forward

exchange

contracts

481,692

Unrealized

depreciation

OTC

forward

exchange

contracts

3,292,528

Total

....................

$481,692

$3,486,212

Templeton

Global

Bond

Fund

Interest

rate

contracts

.......

Variation

margin

centrally

cleared

swap

contracts

—

Variation

margin

centrally

cleared

swap

contracts

6,673,038

Foreign

exchange

contracts

Unrealized

appreciation

OTC

forward

exchange

contracts

9,514,884

Unrealized

depreciation

OTC

forward

exchange

contracts

33,161,225

Total

....................

$9,514,884

$39,834,263

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Interest

rate

contracts

.......

Variation

margin

centrally

cleared

swap

contracts

—

Variation

margin

centrally

cleared

swap

contracts

80,931

Foreign

exchange

contracts

Unrealized

appreciation

OTC

forward

exchange

contracts

65,937

Unrealized

depreciation

OTC

forward

exchange

contracts

43,434

Total

....................

$65,937

$124,365

This

amount

reflects

the

cumulative

appreciation

(depreciation)

centrally

cleared

swap

contracts

reported

the

Schedules

Investments.

Only

the

variation

margin

receivable/payable

period

end

separately

reported

within

the

Statements

Assets

and

Liabilities.

Prior

variation

margin

movements

were

recorded

cash

upon

receipt

payment.

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

For

the

period

ended

June

30,

2026,

the

effect

derivative

contracts

the

Statements

Operations

was

follows:

For

the

period

ended

June

30,

2026,

the

average

month

end

notional

amount

swap

contracts

and

the

average

month

end

contract

value

forward

exchange

contracts

were

follows:

Derivative

Contracts

Not

Accounted

for

Hedging

Instruments

Statement

Operations

Location

Net

Realized

Gain

(Loss)

for

the

Period

Statement

Operations

Location

Net

Change

Unrealized

Appreciation

(Depreciation)

for

the

Period

Templeton

Global

Bond

Enhanced

Fund

Net

realized

gain

(loss)

from:

Net

change

unrealized

appreciation

(depreciation)

on:

Interest

rate

contracts

..........

Swap

contracts

$(189,377)

Swap

contracts

$96,335

Foreign

exchange

contracts

.....

Forward

exchange

contracts

(557,110)

Forward

exchange

contracts

(2,241,772)

Total

.......................

$(746,487)

$(2,145,437)

Templeton

Global

Bond

Fund

Net

realized

gain

(loss)

from:

Net

change

unrealized

appreciation

(depreciation)

on:

Interest

rate

contracts

..........

Swap

contracts

(1,188,308)

Swap

contracts

(1,799,861)

Foreign

exchange

contracts

.....

Forward

exchange

contracts

(39,075,108)

Forward

exchange

contracts

(5,935,485)

Total

.......................

$(40,263,416)

$(7,735,346)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Net

realized

gain

(loss)

from:

Net

change

unrealized

appreciation

(depreciation)

on:

Interest

rate

contracts

..........

Swap

contracts

2,754

Swap

contracts

(28,177)

Foreign

exchange

contracts

.....

Forward

exchange

contracts

67,706

Forward

exchange

contracts

(102,599)

Total

.......................

$70,460

$(130,776)

Templeton

Global

Bond

Enhanced

Fund

Templeton

Global

Bond

Fund

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Swap

contracts

...........................

$5,326,864

$169,510,000

$662,212

Forward

exchange

contracts

.................

164,397,660

2,088,786,175

7,350,985

Other

Derivative

Information

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

June

30,

2026,

certain

all

Funds

with

significant

OTC

derivative

assets

and

liabilities

are

follows:

June

30,

2026,

OTC

derivative

assets,

which

may

offset

against

OTC

derivative

liabilities

and

collateral

received

from

the

counterparty,

are

follows:

Gross

Amounts

Assets

and

Liabilities

Presented

the

Statement

Assets

and

Liabilities

Assets

Liabilities

Templeton

Global

Bond

Enhanced

Fund

Forward

Exchange

Contracts

.............................

481,692

3,292,528

Total

.............................................

$481,692

$3,292,528

Templeton

Global

Bond

Fund

Forward

Exchange

Contracts

.............................

9,514,884

33,161,225

Total

.............................................

$9,514,884

$33,161,225

Absent

event

default

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

the

Statements

Assets

and

Liabilities.

Amounts

Not

Offset

the

Statement

Assets

and

Liabilities

Gross

Amounts

Assets

Presented

the

Statement

Assets

and

Liabilities

Financial

Instruments

Available

for

Offset

Financial

Instruments

Collateral

Received

a,b

Cash

Collateral

Received

Net

Amount

(Not

less

than

zero)

Templeton

Global

Bond

Enhanced

Fund

Counterparty

BNDP

...................

26,201

(26,201)

—

BOFA

....................

23,554

—

23,554

BZWS

...................

26,360

—

26,360

CITI

.....................

71,736

(71,736)

—

DBAB

...................

68,897

(68,897)

—

HSBK

...................

128,914

(66,716)

—

62,198

JPHQ

...................

136,030

(136,030)

—

MSCO

...................

—

Total

...................

$481,692

$(369,580)

$—

$112,112

Templeton

Global

Bond

Fund

Counterparty

BNDP

...................

2,568,706

(1,609,483)

(959,223)

—

BOFA

....................

957,543

—

(957,543)

—

BZWS

...................

1,071,197

—

(1,071,197)

—

CITI

.....................

1,041,898

—

(1,041,898)

—

DBAB

...................

881,323

(881,323)

—

HSBK

...................

1,872,353

(1,872,353)

—

JPHQ

...................

1,121,864

(179,205)

(942,659)

—

MSCO

...................

—

Total

...................

$9,514,884

$(4,542,364)

$(4,972,520)

$—

Other

Derivative

Information

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

June

30,

2026,

OTC

derivative

liabilities,

which

may

offset

against

OTC

derivative

assets

and

collateral

pledged

the

counterparty,

are

follows:

See

Note

1(c)

regarding

derivative

financial

instruments.

See

Abbreviations

page

Credit

Facility

The

Funds,

together

with

other

U.S.

registered

and

foreign

investment

funds

(collectively,

Borrowers),

managed

Franklin

Templeton,

are

borrowers

joint

syndicated

senior

unsecured

credit

facility

totaling

$2.995

billion

(Global

Credit

Facility)

which

matures

January

29,

2027.

This

Global

Credit

Facility

provides

source

funds

the

Borrowers

for

temporary

and

emergency

purposes,

including

the

ability

meet

future

unanticipated

unusually

large

redemption

requests.

Amounts

Not

Offset

the

Statement

Assets

and

Liabilities

Gross

Amounts

Liabilities

Presented

the

Statement

Assets

and

Liabilities

Financial

Instruments

Available

for

Offset

Financial

Instruments

Collateral

Pledged

Cash

Collateral

Pledged

Net

Amount

(Not

less

than

zero)

Templeton

Global

Bond

Enhanced

Fund

Counterparty

BNDP

...................

181,342

(26,201)

—

155,141

BOFA

....................

—

BZWS

...................

—

CITI

.....................

510,597

(71,736)

—

(290,000)

148,861

DBAB

...................

354,761

(68,897)

—

(141,164)

144,700

HSBK

...................

66,716

(66,716)

—

JPHQ

...................

550,984

(136,030)

—

(310,000)

104,954

MSCO

...................

1,628,128

—

(1,290,000)

338,128

Total

...................

$3,292,528

$(369,580)

$—

$(2,031,164)

$891,784

Templeton

Global

Bond

Fund

Counterparty

BNDP

...................

1,609,483

(1,609,483)

—

BOFA

....................

—

BZWS

...................

—

CITI

.....................

—

DBAB

...................

2,516,444

(881,323)

—

(1,078,197)

556,924

HSBK

...................

3,333,482

(1,872,353)

—

(480,000)

981,129

JPHQ

...................

179,205

(179,205)

—

MSCO

...................

25,522,611

—

(22,470,000)

3,052,611

Total

...................

$33,161,225

$(4,542,364)

$—

$(24,028,197)

$4,590,664

June

30,

2026,

the

Fund

received

U.S

Treasury

Bills,

Bonds

and

Notes

collateral

for

derivatives.

some

instances,

the

collateral

amounts

disclosed

the

table

above

were

adjusted

due

the

requirement

limit

the

collateral

amounts

avoid

the

effect

overcollateralization.

Actual

collateral

received

and/or

pledged

may

than

the

amounts

disclosed

herein.

Other

Derivative

Information

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

Under

the

terms

the

Global

Credit

Facility,

the

Funds

may,

addition

interest

charged

any

borrowings

made

the

Funds

and

other

costs

incurred

the

Funds,

pay

their

fees

and

expenses

incurred

connection

with

the

implementation

and

maintenance

the

Global

Credit

Facility,

based

upon

their

relative

the

aggregate

net

assets

all

the

Borrowers,

including

annual

commitment

fee

0.15%

based

upon

the

unused

portion

the

Global

Credit

Facility.

These

fees

are

reflected

other

expenses

the

Statements

Operations.

During

the

period ended

June

30,

2026,

the

Funds

did

not

use

the

Global

Credit

Facility.

10.

Fair

Value

Measurements

The Funds

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Funds'

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

determining

the

value

the Funds' financial

instruments

and

are

summarized

the

following

fair

value

hierarchy:

Level

–

quoted

prices

active

markets

for

identical

financial

instruments

Level

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

Level

–

significant

unobservable

inputs

(including

the Funds'

own

assumptions

determining

the

fair

value

financial

instruments)

The

input

levels

are

not

necessarily

indication

the

risk

liquidity

associated

with

financial

instruments

that

level.

summary

inputs

used

June

30,

2026,

valuing

the

Funds'

assets

and

liabilities carried

fair

value,

follows:

Level

Total

Templeton

Global

Bond

Enhanced

Fund

Assets:

Investments

Securities:

Corporate

Bonds

........................

—

Foreign

Government

and

Agency

Securities

....

—

162,718,914

—

162,718,914

U.S.

Government

and

Agency

Securities

.......

—

14,066,577

—

14,066,577

Escrows

and

Litigation

Trusts

...............

—

34,895

Short

Term

Investments

...................

17,817,523

12,478,259

—

30,295,782

Total

Investments

Securities

...........

$17,817,523

$189,263,750

$34,895

$207,116,168

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$481,692

$—

$481,692

Total

Other

Financial

Instruments

.........

$—

$481,692

$—

$481,692

Liabilities:

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$3,292,528

$—

$3,292,528

Swap

Contracts

.........................

—

193,684

—

193,684

Total

Other

Financial

Instruments

.........

$—

$3,486,212

$—

$3,486,212

Templeton

Global

Bond

Fund

Assets:

Investments

Securities:

Foreign

Government

and

Agency

Securities

....

—

2,221,416,417

—

2,221,416,417

U.S.

Government

and

Agency

Securities

.......

—

95,260,989

—

95,260,989

Short

Term

Investments

...................

605,562,534

—

605,562,534

Total

Investments

Securities

...........

$605,562,534

$2,316,677,406

$—

$2,922,239,940

Credit

Facility

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

reconciliation

which

Level

inputs

are

used

determining

fair

value

presented

when

there

are

significant

Level

assets

and/or

liabilities

the

beginning

and/or

end

the period.

11.

Operating

Segments

Each

Fund

operates

single

operating

segment,

which

investment

portfolio.

The

portfolio

managers

assigned

the

Fund

within the

Funds'

investment

manager

serve

the

Chief

Operating

Decision

Maker

(“CODM”)

and are

responsible

for

evaluating each

Fund's

operating

results

and

allocating

resources

accordance

with each

Fund’s

investment

strategy.

Internal

reporting

provided

the

CODM

aligns

with

the

accounting

policies

and

measurement

principles

used

the

financial

statements.

For

information

regarding

segment

assets,

segment

profit

loss,

and

significant

expenses,

refer

the

Statements

Assets

and

Liabilities

and

the

Statements

Operations,

along

with

the

notes

the

financial

statements.

The

Schedules

Investments

provides

details

the

Funds'

investments

that

generate

returns

such

interest,

dividends,

and

realized

and

unrealized

gains

losses.

Performance

metrics,

including

portfolio

turnover

and

expense

ratios,

are

disclosed

the

Financial

Highlights.

Level

Total

Templeton

Global

Bond

Fund

(continued)

Assets:

(continued)

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$9,514,884

$—

$9,514,884

Total

Other

Financial

Instruments

.........

$—

$9,514,884

$—

$9,514,884

Liabilities:

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

—

33,161,225

—

33,161,225

Swap

Contracts

.........................

—

6,673,038

—

6,673,038

Total

Other

Financial

Instruments

.........

$—

$39,834,263

$—

$39,834,263

Templeton

Sustainable

Emerging

Markets

Bond

Fund

Assets:

Investments

Securities:

Corporate

Bonds

........................

—

Foreign

Government

and

Agency

Securities

....

—

19,489,292

—

19,489,292

Escrows

and

Litigation

Trusts

...............

—

201

Short

Term

Investments

...................

1,999,252

1,089,567

—

3,088,819

Total

Investments

Securities

...........

$1,999,252

$20,578,859

$201

$22,578,312

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$65,937

$—

$65,937

Total

Other

Financial

Instruments

.........

$—

$65,937

$—

$65,937

Liabilities:

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

—

43,434

—

43,434

Swap

Contracts

.........................

—

80,931

—

80,931

Total

Other

Financial

Instruments

.........

$—

$124,365

$—

$124,365

For

detailed

categories,

see

the

accompanying

Schedule

Investments.

Includes

financial

instruments

determined

have

value.

10.

Fair

Value

Measurements

(continued)

Templeton

Income

Trust

Notes

Financial

Statements

(unaudited)

franklintempleton.com

Semiannual

Report

12.

Subsequent

Events

The

Funds

have

evaluated

subsequent

events

through

the

issuance

the financial

statements

and

determined

that

addition

those

events

previously

disclosed,

the

following

subsequent

event

requires

disclosure:

Subsequent

the

period

ended

June

30,

2026,

shareholder

redemptions

from

Class

exceeded

50%

Class

net

assets

for

Templeton

Sustainable

Emerging

Markets

Bond

Fund

June

30,

2026.

Abbreviations

Counterparty

BNDP

BNP

Paribas

BOFA

Bank

America

BZWS

Barclays

Bank

plc

CITI

Citibank

DBAB

Deutsche

Bank

GSCO

Goldman

Sachs

Group,

Inc.

HSBK

HSBC

Bank

plc

JPHQ

JPMorgan

Chase

Bank

MSCO

Morgan

Stanley

rency

AUD

Australian

Dollar

BRL

Brazilian

Real

CLP

Chilean

Peso

COP

Colombian

Peso

EGP

Egyptian

Pound

EUR

Euro

HUF

Hungarian

Forint

INR

Indian

Rupee

KZT

Kazakhstani

Tenge

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

NAD

Namibian

Dollar

NGN

Nigerian

Naira

NOK

Norwegian

Krone

PEN

Peruvian

Nuevo

Sol

PLN

Polish

Zloty

RSD

Serbian

Dinar

UYU

Uruguayan

Peso

UZS

Uzbekistani

Som

ZAR

South

African

Rand

Selected

Portfolio

CDI

certificado

deposito

interbancario

SOFR

Secured

Overnight

Financing

Rate

The

following

reference

rates,

and

their

values

period

end,

are

used

for

security

descriptions:

Reference

Index

Reference

Rate

1-day

BRL

CDI

......................

14.15%

1-day

SOFR

........................

3.68%

Templeton

Income

Trust

franklintempleton.com

Semiannual

Report

TEMPLETON

INCOME

TRUST

(unaudited)

Templeton

Global

Bond

Fund

Templeton

Global

Bond

Enhanced

Fund

(formerly

Templeton

Global

Total

Return

Fund)

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(each

Fund)

in-person

meeting

held

May

18-19,

2026

(Meeting),

the

Board

Trustees

(Board)

Templeton

Income

Trust

(Trust),

including

majority

the

trustees

who

are

not

“interested

persons”

defined

the

Investment

Company

Act

1940

(Independent

Trustees),

reviewed

and

approved

the

continuance

the

investment

management

agreement

between

Franklin

Advisers,

Inc.

(FAI)

and

the

Trust,

behalf

each

Fund

and

investment

sub-advisory

agreement

between

FAI

and

Templeton

Asset

Management

Ltd.

(Sub-Adviser),

affiliate

FAI,

behalf

the

Templeton

Sustainable

Emerging

Markets

Bond

Fund

(each

Management

Agreement)

for

additional

one-year

period.

The

Independent

Trustees

received

advice

from

and

met

separately

with

Independent

Trustee

counsel

consider

the

renewal

each

Management

Agreement.

Although

the

Management

Agreements

for

the

Funds

were

considered

the

same

Board

meeting,

the

Board

considered

the

information

provided

about

the

Funds

together

and

with

respect

each

Fund

separately

the

Board

deemed

appropriate.

FAI

and

the

Sub-Adviser

are

each

referred

herein

Manager.

considering

the

continuance

each

Management

Agreement,

the

Board

reviewed

and

considered

information

provided

each

Manager

the

Meeting

and

throughout

the

year

meetings

the

Board

and

its

committees.

The

Board

also

reviewed

and

considered

information

provided

response

detailed

set

requests

for

information

submitted

the

Managers

Independent

Trustee

counsel

behalf

the

Independent

Trustees

connection

with

the

annual

contract

renewal

process.

addition,

prior

the

Meeting,

the

Independent

Trustees

held

virtual

contract

renewal

meeting

which

the

Independent

Trustees

first

conferred

amongst

themselves

and

with

Independent

Trustee

counsel

about

contract

renewal

matters,

and

then

met

with

management

request

additional

information

that

the

Independent

Trustees

also

considered

prior

and

the

Changes

and

Disagreements

with

Accountants

For

the

period

covered

this

report

Not

applicable.

Results

Meeting(s)

Shareholders

For

the

period

covered

this

report

Not

applicable.

Remuneration

Paid

Directors,

Officers

and

Others

For

the

period

covered

this

report

Refer

the

financial

statements

included

herein.

Remuneration

officers

paid

the

Funds’

investment

manager

according

the

terms

the

agreement.

Board

Approval

Management

and

Subadvisory

Agreements

For

the

period

covered

this

report

Templeton

Income

Trust

franklintempleton.com

Semiannual

Report

Meeting.

The

Board

further

considered

all

the

factors

deemed

relevant

approving

the

continuance

each

Management

Agreement,

including,

but

not

limited

to:

(i)

the

nature,

extent

and

quality

the

services

provided

each

Manager;

(ii)

the

investment

performance

each

Fund;

(iii)

the

costs

the

services

provided

and

profits

realized

each

Manager

and

its

affiliates

from

the

relationship

with

each

Fund;

(iv)

the

extent

which

economies

scale

are

realized

each

Fund

grows;

and

(v)

whether

fee

levels

reflect

these

economies

scale

for

the

benefit

Fund

investors.

approving

the

continuance

each

Management

Agreement,

the

Board,

including

majority

the

Independent

Trustees,

determined,

through

the

exercise

its

business

judgment,

that

the

terms

each

Management

Agreement

are

fair

and

reasonable

and

that

the

continuance

each

Management

Agreement

the

best

interests

the

applicable

Fund

and

its

shareholders.

While

attention

was

given

all

information

furnished,

the

following

discusses

some

primary

factors

relevant

the

Board’s

determination.

Nature,

Extent

and

Quality

Services

The

Board

reviewed

the

information

received

regarding

the

nature,

extent

and

quality

investment

management

services

provided

each

Manager

and

its

affiliates

the

Funds

and

their

shareholders.

This

information

included,

among

other

things,

the

qualifications,

background

and

experience

the

senior

management

and

investment

personnel

each

Manager,

well

information

succession

planning

where

appropriate;

the

structure

investment

personnel

compensation;

oversight

third-party

service

providers;

investment

performance

reports

and

financial

information

for

each

Fund;

reports

expenses

and

shareholder

services;

legal

and

compliance

matters;

risk

controls;

pricing

and

other

services

provided

each

Manager

and

its

affiliates;

and

management

fees

charged

each

Manager

and

its

affiliates

funds

and

other

accounts,

including

management’s

explanation

differences

among

accounts

where

relevant.

The

Board

also

reviewed

and

considered

annual

report

payments

made

Franklin

Templeton

(FT)

the

Funds

financial

intermediaries,

well

memorandum

relating

third-party

servicing

arrangements.

The

Board

acknowledged

FT’s

regular

updates

the

Board

strategic

initiatives,

ongoing

attention

the

service

level

quality

third-party

service

providers,

ongoing

efforts

modernize

its

mutual

fund

lineup,

mutual

fund

ETF

conversions,

integration

private

market

investments

into

existing

mutual

funds,

creation

additional

blockchain-compatible

money

market

funds,

and

sharpening

its

active,

income-oriented

offerings,

along

with

the

impact

team

integrations

and

staff

reductions.

The

Board

also

reviewed

and

considered

the

benefits

provided

Fund

shareholders

investing

fund

that

part

the

family

funds.

The

Board

noted

the

financial

position

the

Manager’s

parent,

Franklin

Templeton,

Inc.

(FTI),

FTI’s

continued

growth

its

global,

multi-asset

franchise

and

its

commitment

the

mutual

fund

business.

The

Board

further

noted

FTI’s

continued

reassessment

fund

offerings

response

acquisitions

and

the

market

environment,

FTI’s

focus

technology-driven

transformation,

expansion

its

private

market

investment

capabilities

and

global

alternatives

platform,

and

leveraging

artificial

intelligence

(AI),

blockchain

and

digital

wealth

platforms.

Following

consideration

such

information,

the

Board

was

satisfied

with

the

nature,

extent

and

quality

services

provided

each

Manager

and

its

affiliates

the

Funds

and

their

shareholders.

Fund

Performance

The

Board

reviewed

and

considered

the

performance

results

each

Fund

over

various

time

periods

ended

December

31,

2025.

The

Board

considered

the

performance

returns

for

each

Fund

comparison

the

performance

returns

mutual

funds

deemed

comparable

the

Fund

included

universe

(Performance

Universe)

selected

Broadridge

Financial

Solutions,

Inc.

(Broadridge),

independent

provider

investment

company

data.

The

Board

received

description

the

methodology

used

Broadridge

select

the

mutual

funds

included

Performance

Universe.

The

Board

also

reviewed

and

considered

Fund

performance

reports

provided

and

discussions

that

occurred

with

portfolio

managers

Board

meetings

throughout

the

year.

This

year,

addition

providing

Class

performance

(and

expense)

data,

Broadridge

included

Advisor

Class

performance

data

for

the

Funds

align

with

the

performance

reporting

provided

Board

meetings

throughout

the

year.

Going

forward,

Broadridge

will

provide

the

Board

solely

with

the

Funds’

Advisor

Class

performance

information.

Templeton

Income

Trust

franklintempleton.com

Semiannual

Report

Templeton

Global

Bond

Fund

The

Performance

Universe

for

the

Fund

included

the

Fund

and

all

retail

and

institutional

global

income

funds.

The

Board

noted

that

the

Fund’s

annualized

total

return

for

the

three-,

five-

and

10-year

periods

was

below

the

median

its

Performance

Universe,

but

for

the

one-year

period

was

above

the

median

its

Performance

Universe

and

the

first

(best)

quintile

its

Performance

Universe.

They

discussed

with

management

the

negative

impact

currency

positioning

over

the

three-

and

five-year

periods.

Management

explained

the

actions

that

are

being

taken/have

been

taken

effort

improve

the

overall

performance

the

Fund,

including

refinements

the

Fund’s

investment

process

and

risk

management.

Management

reported

that

for

the

one-year

period

ended

December

31,

2025,

the

Fund

had

outperformed

its

Performance

Universe

and

outperformed

its

benchmark,

the

FTSE

WGBI

(USD)

Index,

9.18%.

The

Board

concluded

that,

taking

into

consideration

all

the

discussions

with

and

information

provided

management,

the

Fund’s

Management

Agreement

should

continued

for

additional

one-year

period,

while

management’s

efforts

improve

performance

continue

closely

monitored.

Templeton

Global

Bond

Enhanced

Fund

The

Performance

Universe

for

the

Fund

included

the

Fund

and

all

retail

and

institutional

global

income

funds.

The

Board

noted

that

the

Fund’s

annualized

total

return

for

the

one-

and

three-year

periods

was

above

the

median

its

Performance

Universe,

for

the

5-year

period

was

equal

the

median

its

Performance

Universe,

and

for

the

10-year

period

was

below

the

median

its

Performance

Universe.

The

Board

concluded

that

the

Fund’s

performance

was

satisfactory.

Templeton

Sustainable

Emerging

Markets

Bond

Fund

The

Performance

Universe

for

the

Fund

included

the

Fund

and

all

retail

and

institutional

emerging

markets

local

currency

debt

funds.

The

Board

noted

that

the

Fund’s

annualized

total

return

for

the

one-,

three-

and

five-year

periods

was

above

the

median

its

Performance

Universe,

but

for

the

10-year

period

was

below

the

median

its

Performance

Universe.

The

Board

concluded

that

the

Fund’s

performance

was

satisfactory.

Comparative

Fees

and

Expenses

The

Board

reviewed

and

considered

information

regarding

each

Fund’s

actual

total

expense

ratio

and

its

various

components,

including,

applicable,

management

fees;

transfer

agent

expenses;

underlying

fund

expenses;

Rule

12b-1

and

non-Rule

12b-1

service

fees;

and

other

non-management

fees.

The

Board

also

noted

the

quarterly

and

annual

reports

receives

all

marketing

support

payments

made

financial

intermediaries.

The

Board

considered

the

actual

total

expense

ratio

and,

separately,

the

contractual

management

fee

rate,

without

the

effect

fee

waivers,

any

(Management

Rate)

each

Fund

comparison

the

median

expense

ratio

and

median

Management

Rate,

respectively,

other

mutual

funds

deemed

comparable

and

with

similar

expense

structure

the

Fund

selected

Broadridge

(Expense

Group).

Broadridge

fee

and

expense

data

based

upon

information

taken

from

each

fund’s

most

recent

annual

semi-annual

report,

which

reflects

historical

asset

levels

that

may

quite

different

from

those

currently

existing,

particularly

period

market

volatility.

While

recognizing

such

inherent

limitation

and

the

fact

that

expense

ratios

and

Management

Rates

generally

increase

assets

decline

and

decrease

assets

grow,

the

Board

believed

the

independent

analysis

conducted

Broadridge

appropriate

measure

comparative

fees

and

expenses.

The

Broadridge

Management

Rate

includes

administrative

charges,

and

the

actual

total

expense

ratio,

for

comparative

consistency,

was

shown

for

Class

for

each

Fund

and

for

the

other

funds

each

Fund’s

respective

Expense

Group.

The

Board

received

description

the

methodology

used

Broadridge

select

the

mutual

funds

included

Expense

Group.

Templeton

Global

Bond

Fund

The

Expense

Group

for

the

Templeton

Global

Bond

Fund

included

the

Fund

and

other

global

income

funds.

The

Board

noted

that

the

Management

Rate

for

the

Fund

was

below

the

median

its

Expense

Group.

The

Board

also

noted

that

the

actual

total

expense

ratio

for

the

Fund

was

equal

the

median

its

Expense

Group.

After

consideration

the

above,

the

Board

concluded

that

the

Management

Rate

charged

the

Fund

reasonable.

Templeton

Global

Bond

Enhanced

Fund

The

Expense

Group

for

the

Templeton

Global

Bond

Enhanced

Fund

included

the

Fund

and

nine

other

global

income

funds.

The

Board

noted

that

the

Management

Rate

and

actual

total

expense

ratio

for

the

Fund

were

above

the

medians

its

Expense

Group.

The

Board

also

noted

management’s

explanation

that

the

Fund’s

Management

Rate

was

2.6

basis

points

above

its

Expense

Group

median.

Management

further

explained

that

the

Fund

Templeton

Income

Trust

franklintempleton.com

Semiannual

Report

currently

has

higher

allocation

emerging

markets

debt

than

its

Expense

Group,

which

requires

deeper

local

expertise

and

active

risk

management.

The

Board

also

noted

that

effective

June

2024,

the

first

two

tiers

the

Fund’s

contractual

management

breakpoint

fee

schedule

were

lowered

basis

points.

After

consideration

the

above,

the

Board

concluded

that

the

Management

Rate

charged

the

Fund

reasonable.

Templeton

Sustainable

Emerging

Markets

Bond

Fund

The

Expense

Group

for

the

Fund

included

the

Fund

and

five

other

emerging

markets

local

currency

debt

funds.

The

Board

noted

that

the

Management

Rate

and

actual

total

expense

ratio

for

the

Fund

were

above

the

medians

its

Expense

Group.

The

Board

discussed

the

fifth

quintile

Management

Rate

with

management

and

management

explained

that

the

Fund’s

actual

total

expense

ratio

reflected

expense

cap

operating

expenses,

which

resulted

actual

management

fee

zero

being

paid

the

Fund.

The

Board

further

noted

that

the

Sub-Adviser

paid

FAI

out

the

management

fee

FAI

receives

from

the

Fund

and

that

the

percentage

allocation

the

fee

between

FAI

and

the

Sub-Adviser

reflects

the

services

provided

each

the

Fund.

The

Board

also

noted

that

the

Sub-

Adviser

paid

percentage

the

“net

investment

advisory

fee”

(as

defined

the

investment

sub-advisory

agreement)

and

that

the

Sub-Adviser

was

not

paid

any

sub-advisory

fee

during

the

Fund’s

fiscal

year

ended

December

31,

2025

the

actual

management

fee

paid

FAI

was

zero.

After

consideration

the

above,

the

Board

concluded

that

the

Management

Rate

charged

the

Fund

and

the

sub-advisory

fee

rate

charged

FAI

are

reasonable.

Profitability

The

Board

reviewed

and

considered

information

regarding

the

profits

realized

FAI

and

its

affiliates

connection

with

the

operation

each

Fund.

this

respect,

the

Board

considered

the

Fund

profitability

analysis

provided

that

addresses

the

overall

profitability

FT’s

fund

business,

well

its

profits

providing

investment

management

and

other

services

each

the

individual

funds

during

the

12-month

period

ended

September

30,

2025,

being

the

most

recent

fiscal

year-end

for

FTI.

The

Board

noted

that

although

management

continually

makes

refinements

its

methodologies

used

calculating

profitability

response

organizational

and

product-related

changes,

the

overall

methodology

has

remained

consistent

with

that

used

the

Funds’

profitability

report

presentations

from

prior

years.

The

Board

also

noted

that

independent

registered

public

accounting

firm

has

been

engaged

periodically

review

and

assess

the

allocation

methodologies

used

solely

the

Funds’

Board

with

respect

the

profitability

analysis.

The

Board

noted

management’s

belief

that

costs

incurred

establishing

the

infrastructure

necessary

for

the

type

mutual

fund

operations

conducted

each

Manager

and

its

affiliates

may

not

fully

reflected

the

expenses

allocated

each

Fund

determining

its

profitability,

well

the

fact

that

the

level

profits,

certain

extent,

reflected

operational

cost

savings

and

efficiencies

initiated

management.

part

this

evaluation,

the

Board

considered

management’s

outsourcing

certain

operations,

which

effort

has

required

considerable

up-front

expenditures

each

Manager,

but

over

the

long

run

expected

result

greater

efficiencies.

The

Board

also

noted

management’s

expenditures

improving

shareholder

services

provided

the

Funds,

well

the

need

implement

systems

and

meet

additional

regulatory

and

compliance

requirements

resulting

from

recent

Securities

and

Exchange

Commission

and

other

regulatory

requirements.

The

Board

also

considered

the

extent

which

each

Manager

and

its

affiliates

might

derive

ancillary

benefits

from

fund

operations,

including

revenues

generated

from

transfer

agent

services,

potential

benefits

resulting

from

personnel

and

systems

enhancements

necessitated

fund

growth,

well

increased

leverage

with

service

providers

and

counterparties.

Based

upon

its

consideration

all

these

factors,

the

Board

concluded

that

the

level

profits

realized

each

Manager

and

its

affiliates

from

providing

services

each

Fund

was

not

excessive

view

the

nature,

extent

and

quality

services

provided

each

Fund.

Economies

Scale

The

Board

reviewed

and

considered

the

extent

which

each

Manager

may

realize

economies

scale,

any,

each

Fund

grows

larger

and

whether

each

Fund’s

management

fee

structure

reflects

any

economies

scale

for

the

benefit

shareholders.

With

respect

possible

economies

scale,

the

Board

noted

the

existence

management

fee

breakpoints,

which

operate

generally

any

economies

scale

with

Fund’s

shareholders

reducing

the

Fund’s

effective

management

fees

the

Fund

grows

size.

The

Board

considered

the

Managers’

view

that

any

analyses

potential

Templeton

Income

Trust

franklintempleton.com

Semiannual

Report

economies

scale

managing

particular

fund

are

inherently

limited

light

the

joint

and

common

costs

and

investments

the

Managers

incur

across

the

family

funds

whole.

The

Board

noted

that

the

Templeton

Global

Bond

Fund

had

experienced

significant

decrease

assets

and

would

not

expected

demonstrate

additional

economies

scale

the

near

term

and

that

the

Templeton

Global

Bond

Enhanced

Fund

and

the

Templeton

Sustainable

Emerging

Markets

Bond

Fund

not

currently

have

asset

sizes

that

would

likely

enable

the

Funds

achieve

economies

scale.

The

Board

concluded

that

the

extent

economies

scale

may

realized

each

Manager

and

its

affiliates,

each

Fund’s

management

fee

structure

provided

sharing

benefits

with

the

Fund

and

its

shareholders

the

Fund

grows.

Conclusion

Based

its

review,

consideration

and

evaluation

all

factors

believed

relevant,

including

the

above-described

factors

and

conclusions,

the

Board

unanimously

approved

the

continuance

each

Management

Agreement

for

additional

one-year

period.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR, as applicable.

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees that would require disclosure herein.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Christopher Kings
	Christopher Kings
	Chief Executive Officer - Finance and Administration

By:	/s/ Christopher Kings
	Christopher Kings
	Chief Executive Officer - Finance and Administration

Date:	August 27, 2026

By:	/s/ Jeffrey White
	Jeffrey White
	Chief Financial Officer, Chief Accounting Officer and Treasurer


Templeton Global Bond Enhanced Fund
Class A [TGTRX]
Semi-Annual Shareholder Report \| June 30, 2026


	WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?
	Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its:
	• prospectus • proxy voting information • financial information • holdings • tax information


Templeton Global Bond Enhanced Fund
Class C [TTRCX]
Semi-Annual Shareholder Report \| June 30, 2026


Templeton Global Bond Enhanced Fund
Class R [FRRGX]
Semi-Annual Shareholder Report \| June 30, 2026


Templeton Global Bond Enhanced Fund
Class R6 [FTTRX]
Semi-Annual Shareholder Report \| June 30, 2026


Templeton Global Bond Enhanced Fund
Advisor Class [TTRZX]
Semi-Annual Shareholder Report \| June 30, 2026


Templeton Global Bond Fund
Class A [TPINX]
Semi-Annual Shareholder Report \| June 30, 2026


Templeton Global Bond Fund
Class C [TEGBX]
Semi-Annual Shareholder Report \| June 30, 2026


Templeton Global Bond Fund
Class R [FGBRX]
Semi-Annual Shareholder Report \| June 30, 2026


Templeton Global Bond Fund
Class R6 [FBNRX]
Semi-Annual Shareholder Report \| June 30, 2026


Templeton Global Bond Fund
Advisor Class [TGBAX]
Semi-Annual Shareholder Report \| June 30, 2026