N-CSR

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-05459

Templeton Global Income Fund

(Exact name of registrant as specified in charter)

300 S.E. 2^nd Street, Fort Lauderdale, FL 33301-1923

(Address of principal executive offices) (Zip code)

Craig S. Tyle, One Franklin Parkway, San Mateo, CA 94403-1906

(Name and address of agent for service)

Registrant’s telephone number, including area code: (954) 527-7500

Date of fiscal year end: 12/31

Date of reporting period: 12/31/19

Item 1. Reports to Stockholders.

Internet Delivery of Fund Reports Unless You Request Paper Copies: Effective January 1, 2021, as permitted by the SEC, paper copies of the Fund’s shareholder reports will no longer be sent by mail, unless you specifically request them from the Fund or your financial intermediary. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. If you have not signed up for electronic delivery, we would encourage you to join fellow shareholders who have. You may elect to receive shareholder reports and other communications electronically from the Fund by calling (800) 416-5585 or by contacting your financial intermediary.

You may elect to continue to receive paper copies of all your future shareholder reports free of charge by contacting your financial intermediary or, if you invest directly with a Fund, calling (800) 416-5585 to let the Fund know of your request. Your election to receive reports in paper will apply to all funds held in your account.

FRANKLIN TEMPLETON

Successful investing begins with ambition. And achievement only comes when you reach for it. That’s why we continually strive to deliver better outcomes for investors. No matter what your goals are, our deep, global investment expertise allows us to offer solutions that can help.

During our more than 70 years of experience, we’ve managed through all kinds of markets—up, down and those in between. We’re always preparing for what may come next. It’s because of this, combined with our strength as one of the world’s largest asset managers that we’ve earned the trust of millions of investors around the world.

Contents

Annual Report
Templeton Global Income Fund.	2
Performance Summary	6
Important Notice to Shareholders	8
Financial Highlights and Statement of Investments	9
Financial Statements	23
Notes to Financial Statements	26
Report of Independent Registered Public Accounting Firm	39
Tax Information	40
Annual Meeting of Shareholders	41
Dividend Reinvestment and Cash Purchase Plan	42
Board Members and Officers	44
Shareholder Information	49

Visit franklintempleton.com/investor/

investments-and-solutions/investment-

options/closed-end-funds/ for fund updates, to

access your account, or to find helpful financial

planning tools.

Not FDIC Insured  |  May Lose Value  |  No Bank Guarantee 

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ANNUAL REPORT

Templeton Global Income Fund

Dear Shareholder:

This annual report for Templeton Global Income Fund covers the fiscal year ended December 31, 2019.

Your Fund’s Goal and Main Investments

The Fund seeks high, current income, with a secondary goal of capital appreciation. Under normal market conditions, the Fund invests at least 80% of its net assets in income-producing securities, including debt securities of U.S. and foreign issuers, including emerging markets.

Performance Overview

For the 12 months under review, the Fund posted cumulative total returns of +8.52% based on market price and +1.97% based on net asset value. For comparison, the global government bond market, as measured by the J.P. Morgan (JPM) Global Government Bond Index (GGBI), posted a cumulative total return of +6.02% in U.S. dollar terms for the same period.¹ You can find the Fund’s long-term performance data in the Performance Summary on page 6.

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown.

Economic and Market Overview

Global financial markets started 2019 on a positive note, with rallies in risk assets through much of the first quarter after a volatile end to 2018. However, escalating trade tensions between the U.S. and China sporadically resurfaced throughout the year, leading to broad resurgences in global risk aversion that intermittently affected market valuations. Both the U.S. Federal Reserve (Fed) and the European Central Bank (ECB) increasingly cited trade uncertainties and global risks as policy concerns during the year, with the Fed building a case for rate cuts and the ECB signaling that additional monetary accommodation could arrive in the Fall.

Portfolio Composition*

Based on Total Net Assets as of 12/31/19

*Figures represent the net Fund exposure and include certain derivatives held in the portfolio (or their underlying reference assets) and may not total 100% or may be negative due to rounding, use of any derivatives or other factors.

**Includes U.S. and foreign government and agency securities, money market funds and other net assets (including derivatives).

The Fed took a dovish turn at its January 2019 meeting, halting its series of rate hikes from 2018 and removing its prior statement that “some further gradual increases in the target range for the federal funds rate” would be consistent with economic activity and inflation objectives. Policy guidance turned even further dovish at the March meeting as the Fed kept rates unchanged and moderately downgraded U.S. growth forecasts for 2019 and 2020. The Fed ultimately kept the federal funds target rate unchanged at its May and June meetings before cutting rates for the first time in more than a decade at its July meeting. The rate cut was 25 basis points (bps). In August, the Fed discontinued its monthly pace of balance sheet unwinding, two months earlier than originally forecast. It then consecutively cut rates 25 bps at its September and October meetings to a range of 1.50% to 1.75%, before signaling that it would likely keep rates unchanged going forward, barring a material change in the economic outlook.

The shifts in monetary policy affected the shape of the U.S. Treasury (UST) yield curve throughout the year. A yield curve inversion from the three-month UST bill to the 10-year UST note took hold in May, reaching a low of 50 bps of spread inversion in late August. However, the Fed provided updated

1. Source: Morningstar.

The index is unmanaged and includes reinvestment of any income or distributions. It does not reflect any fees, expenses or sales charges. One cannot invest directly in an index, and an index is not representative of the Fund’s portfolio.

See www.franklintempletondatasources.com for additional data provider information.

The dollar value, number of shares or principal amount, and names of all portfolio holdings are listed in the Fund’s Statement of Investments (SOI). The SOI begins on page 10.

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TEMPLETON GLOBAL INCOME FUND

forward guidance in September and October that enabled the curve to steepen, erasing the inversion as the front end rallied lower while longer-term UST yields rose. The curve continued to steepen through the end of the year, as the Fed kept rates unchanged at its December meeting with the first 10-0 consensus policy vote since May. The updated dot plot in December indicated that a strong majority of Fed officials expected rates to remain unchanged through the end of 2020.

In our view, longer-term USTs appeared vulnerable to a potential rate shock given rising deficit spending, rising debt issuance and over-levered financial markets. Additionally, inflation risks remained significantly underpriced, in our view, given supply chain disruptions, immigration restrictions and exceptional tightness in the labor market. Given each of these factors, we believed longer-term USTs remained highly overvalued. The Fed can control short-term rates, but it cannot always control the economic and technical pressures on the longer end of the curve. We believed the yield curve inversion was overdone and that longer-term UST yields would rise.

Despite escalating trade disputes between the U.S. and China during much of the year, including a peak in retaliatory measures by each country in August, the U.S. and China appeared to reach agreement on a “phase one” trade deal in December, expected to be ratified on January 15. The potential resolution bolstered market sentiment, driving risk asset valuations higher in several markets across the globe. However, we continued to monitor the broader implications of trade tensions on multiple fronts and the potential ramifications to risk assets in various regions. Despite the positive developments on trade policy, risks for additional disputes remained elevated, in our view.

In Europe, the ECB kept its policy rate unchanged (0.0% main refinancing operations, -0.40% deposit facility) for most of the reporting period, but delivered on an anticipated stimulus package at its September meeting, dropping the deposit rate to -0.5% and scheduling the re-start of its quantitative easing (QE) program in November, at a pace of €20 billion in bond purchases per month. Mario Draghi kept rates unchanged at his final meeting as ECB president in October, before Christine Lagarde took over the post in November. Lagarde held her first policy meeting in December, keeping rates and the QE program unchanged, as largely expected. During the reporting period, it appeared Lagarde would maintain continuity with the policy framework she inherited from her predecessor, indicating her support for negative rates by commenting that the ECB has “done the right thing to act in favor of jobs and growth rather than the

protection of savers.” We expected the euro to weaken against the U.S. dollar during the period on continued monetary accommodation from the ECB, as well as unresolved structural vulnerabilities in the eurozone.

The Bank of Japan (BOJ) kept monetary policy unchanged during the reporting period, retaining its 0.0% yield target on the 10-year Japanese government bond and its -0.1% target on the overnight rate. However, BOJ Governor Haruhiko Kuroda increasingly indicated a willingness to cut rates at future meetings if there were risks to achieving the 2.0% inflation target. We expected monetary policy to remain highly accommodative during the reporting period, but our expectations for weakness in the Japanese yen against the U.S. dollar shifted to expectations for strength on softer policy divergence between the Fed and BOJ, and the yen’s potential to rally as a perceived safe haven during periods of risk aversion, given Japan’s strong external balances.

A number of central banks around the world followed the dovish directions of the Fed and the ECB in 2019, taking the opportunity to cut their own domestic rates. Notably, Mexico and Indonesia cut their policy rates by 100 bps, India cut by 135 bps and Brazil cut by 200 bps. Overall, sovereign bond yields declined across much of the world during the reporting period. The yield on the 10-year UST note finished the period 77 bps lower at 1.92%, and the yield on the 10-year German Bund fell 43 bps to finish at -0.19%, after reaching its lowest level on record in August (-0.71%). On the whole, long-duration exposures tended to perform well in most markets, while currency valuations were more idiosyncratic to individual country dynamics.

Investment Strategy

We invest selectively in bonds around the world to generate income for the Fund, seeking opportunities while monitoring changes in interest rates, currency exchange rates and credit risks. We seek to manage the Fund’s exposure to various currencies and may use currency forward contracts.

Manager’s Discussion

During the reporting period, the strategy continued to seek select duration exposures in countries that have attractive risk-adjusted yields, strong or improving economic fundamentals and prudent fiscal and monetary policies. Several emerging markets continued to offer significantly higher yields than those available in the developed markets. The strategy also maintained negative duration exposure to longer-term U.S. Treasuries as the team believed that inflation pressures, rising deficit spending and surging levels of debt issuance were significantly underpriced risks in the

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TEMPLETON GLOBAL INCOME FUND

Geographic Composition*

Based on Total Net Assets as of 12/31/19

*Figures reflect certain derivatives held in the portfolio (or their underlying reference assets) and may not total 100% or may be negative due to rounding, use of any derivatives, unsettled trades or other factors.

**The Fund’s supranational investment was denominated in the Mexican peso.

longer-term U.S. Treasury markets. The strategy also increased its allocations to undervalued safe-haven assets to hedge against global financial market risks associated with geopolitical tensions and price distortions from ongoing loose monetary policy across the developed world, notably including the Japanese yen, Swiss franc, Swedish krona and Norwegian krone. The strategy held a net-negative position in the euro to hedge against broad-based U.S. dollar strength and unresolved structural risks across Europe, and a net-negative position in the Australian dollar to hedge against broad emerging market risks. During the period, we used forward currency exchange contracts to actively manage currencies. We also used interest-rate swaps to tactically manage duration exposures.

What is duration?

Duration is a measure of a bond’s price sensitivity to interest-rate changes. In general, a portfolio of securities with a lower duration can be expected to be less sensitive to interest-rate changes than a portfolio with a higher duration.

What is a currency forward contract?

A currency forward contract is an agreement between the Fund and a counterparty to buy or sell a foreign currency in exchange for another currency at a specific exchange rate on a future date. Currency forward contracts are privately traded in the interbank market, not on a centralized exchange.

What is an interest-rate swap?

An interest-rate swap is an agreement between two parties to exchange interest-rate payment obligations, generally one based on an interest rate fixed to maturity and the other based on an interest rate that changes in accordance with changes in a designated benchmark (for example, LIBOR, prime, commercial paper or other benchmarks).

Currency Composition*

12/31/19

	% of Total Net Assets
Americas		86.3%
U.S. Dollar		63.5%
Mexican Peso		11.1%
Brazilian Real		8.5%
Argentine Peso		1.7%
Colombian Peso		1.5%
Asia Pacific		27.4%
Japanese Yen		30.7%
Indonesian Rupiah		8.5%
Indian Rupee		0.0%**
South Korean Won		-0.1%
Australian Dollar		-11.7%
Middle East & Africa		1.3%
Ghanaian Cedi		1.3%
Europe		-15.0%
Norwegian Krone		7.7%
Swiss Franc		5.2%
Swedish Krona		4.8%
Euro		-32.7%

*Figures represent the net Fund exposure and include certain derivatives held in the portfolio (or their underlying reference assets) and may not total 100% or may be negative due to rounding, use of any derivatives or other factors.

**Rounds to less than 0.1%.

During the period, the Fund’s positive absolute performance was primarily attributable to currency positions. Interest-rate strategies detracted from absolute results, while sovereign credit exposures had a largely neutral effect. Among currencies, the Fund’s net-negative position in the euro contributed to absolute performance, as did its position in the Indonesian rupiah. However, currency positions in Latin America detracted from absolute results (the Argentine peso detracted, while the Mexican peso contributed). The Fund maintained a defensive approach regarding interest rates in developed markets, while holding duration exposures in select emerging markets. Negative duration exposure to U.S. Treasuries detracted from absolute results, while select

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TEMPLETON GLOBAL INCOME FUND

duration exposures in Asia ex-Japan (Indonesia and India) and Latin America (Brazil) contributed.

On a relative basis, the Fund underperformed its benchmark due to interest-rate strategies. Currency positions contributed to relative results, while sovereign credit exposures had a largely neutral effect. Underweighted duration exposures in the U.S. and Japan detracted from relative performance, as did select underweighted duration exposures in Europe and a lack of duration exposure in the U.K. However, select overweighted duration exposures in Asia ex-Japan (Indonesia and India) and Latin America (Brazil) contributed to relative results. Among currencies, the Fund’s underweighted position in the euro contributed to relative performance, as did its overweighted position in the Indonesian rupiah. However, overweighted currency positions in Latin America detracted from relative results (the Argentine peso detracted, while the Mexican peso contributed).

Thank you for your continued participation in Templeton Global Income Fund. We look forward to serving your future investment needs.

Sincerely,

	Michael Hasenstab, Ph.D. Lead Portfolio Manager
	Calvin Ho Portfolio Manager

The foregoing information reflects our analysis, opinions and portfolio holdings as of December 31, 2019, the end of the reporting period. The way we implement our main investment strategies and the resulting portfolio holdings may change depending on factors such as market and economic conditions. These opinions may not be relied upon as investment advice or an offer for a particular security. The information is not a complete analysis of every aspect of any market, country, industry, security or the Fund. Statements of fact are from sources considered reliable, but the investment manager makes no representation or warranty as to their completeness or accuracy. Although historical performance is no guarantee of future results, these insights may help you understand our investment management philosophy.

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TEMPLETON GLOBAL INCOME FUND

Performance Summary as of December 31, 2019

Total return reflects reinvestment of the Fund’s dividends and capital gain distributions, if any, and any unrealized gains or losses. Total returns do not reflect any sales charges paid at inception or brokerage commissions paid on secondary market purchases. The performance table does not reflect any taxes that a shareholder would pay on Fund dividends, capital gain distributions, if any, or any realized gains on the sale of Fund shares. Your dividend income will vary depending on dividends or interest paid by securities in the Fund’s portfolio, adjusted for operating expenses. Capital gain distributions are net profits realized from the sale of portfolio securities.

Performance as of 12/31/19¹

	Cumulative Total Return2				Average Annual Total Return2
	Based on  NAV3		Based on                      market price4		Based on  NAV3		Based on  market price4
1-Year		+1.97%		+8.52%		+1.97%		+8.52%
5-Year		+6.10%		+10.15%		+1.19%		+1.95%
10-Year		+50.23%		+37.34%		+4.15%		+3.22%

Performance data represent past performance, which does not guarantee future results. Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown.

See page 7 for Performance Summary footnotes.

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TEMPLETON GLOBAL INCOME FUND

PERFORMANCE SUMMARY

Distributions (1/1/19–12/31/19)

Net Investment

Income

$0.4095

All investments involve risks, including possible loss of principal. Changes in interest rates will affect the value of the Fund’s portfolio value, share price and yield. Bond prices generally move in the opposite direction of interest rates. As prices of bonds in the Fund adjust to a rise in interest rates, the Fund’s share price may decline. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments of countries where the Fund invests. Investments in developing markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. Sovereign debt securities are subject to various risks in addition to those relating to debt securities and foreign securities generally, including, but not limited to, the risk that a government entity may be unwilling or unable to pay interest and repay principal on its sovereign debt, or otherwise meet its obligations when due. The markets for particular securities or types of securities are or may become relatively illiquid. Reduced liquidity will have an adverse impact on the security’s value and on the Fund’s ability to sell such securities when necessary to meet the Fund’s liquidity needs or in response to a specific market event. Derivatives, including currency management strategies, involve costs and can create economic leverage in the portfolio that may result in significant volatility and cause the Fund to participate in losses on an amount that exceeds the Fund’s initial investment. The Fund may not achieve the anticipated benefits and may realize losses when a counterparty fails to perform as promised. As a nondiversified investment company, the Fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The Fund is actively managed but there is no guarantee that the manager’s investment decisions will produce the desired results.

The Fund may invest in China Interbank bonds traded on the China Interbank Bond Market (“CIBM”) through the China – Hong Kong Bond Connect program (“Bond Connect”). In China, the Hong Kong Monetary Authority Central Money Markets Unit holds Bond Connect securities on behalf of ultimate investors (such as the Fund) in accounts maintained with a China-based custodian (either the China Central Depository & Clearing Co. or the Shanghai Clearing House). This recordkeeping system subjects the Fund to various risks, including the risk that the Fund may have a limited ability to enforce rights as a bondholder and the risks of settlement delays and counterparty default of the Hong Kong sub-custodian. In addition, enforcing the ownership rights of a beneficial holder of Bond Connect securities is untested and courts in China have limited experience in applying the concept of beneficial ownership. Bond Connect uses the trading infrastructure of both Hong Kong and China and is not available on trading holidays in Hong Kong. As a result, prices of securities purchased through Bond Connect may fluctuate at times when a Fund is unable to add to or exit its position. Securities offered through Bond Connect may lose their eligibility for trading through the program at any time. If Bond Connect securities lose their eligibility for trading through the program, they may be sold but can no longer be purchased through Bond Connect.

Bond Connect is subject to regulation by both Hong Kong and China and there can be no assurance that further regulations will not affect the availability of securities in the program, the frequency of redemptions or other limitations. Bond Connect trades are settled in Chinese currency, the renminbi (“RMB”). It cannot be guaranteed that investors will have timely access to a reliable supply of RMB in Hong Kong. Bond Connect is relatively new and its effects on the Chinese interbank bond market are uncertain. In addition, the trading, settlement and IT systems required for non-Chinese investors in Bond Connect are relatively new. In the event of systems malfunctions, trading via Bond Connect could be disrupted. In addition, the Bond Connect program may be subject to further interpretation and guidance. There can be no assurance as to the program’s continued existence or whether future developments regarding the program may restrict or adversely affect the Fund’s investments or returns. Finally, uncertainties in China tax rules governing taxation of income and gains from investments via Bond Connect could result in unexpected tax liabilities for a Fund.

The application and interpretation of the laws and regulations of Hong Kong and China, and the rules, policies or guidelines published or applied by relevant regulators and exchanges in respect of the Bond Connect program, are uncertain, and may have a detrimental effect on the Fund’s investments and returns.

1. The Fund has a fee waiver associated with any investment it makes in a Franklin Templeton money fund and/or other Franklin Templeton fund, contractually guaranteed through 2/28/21. Fund investment results reflect the fee waiver; without this waiver, the results would have been lower.

2. Total return calculations represent the cumulative and average annual changes in value of an investment over the periods indicated. Return for less than one year, if any, has not been annualized.

3. Assumes reinvestment of distributions based on net asset value.

4. Assumes reinvestment of distributions based on the dividend reinvestment and cash purchase plan.

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TEMPLETON GLOBAL INCOME FUND

Important Notice to Shareholders

Share Repurchase Program

The Fund’s Board previously authorized the Fund to repurchase up to 10% of the Fund’s outstanding shares in open-market transactions, at the discretion of management. This authorization remains in effect.

In exercising its discretion consistent with its portfolio management responsibilities, the investment manager will take into account various other factors, including, but not limited to, the level of the discount, the Fund’s performance, portfolio holdings, dividend history, market conditions, cash on hand, the availability of other attractive investments and whether the sale of certain portfolio securities would be undesirable because of liquidity concerns or because the sale might subject the Fund to adverse tax consequences. Any repurchases would be made on a national securities exchange at the prevailing market price, subject to exchange requirements, Federal securities laws and rules that restrict repurchases, and the terms of any outstanding leverage or borrowing of the Fund. If and when the Fund’s 10% threshold is reached, no further repurchases could be completed until authorized by the Board. Until the 10% threshold is reached, Fund management will have the flexibility to commence share repurchases if and when it is determined to be appropriate in light of prevailing circumstances.

In the Notes to Financial Statements section, please see note 2 (Shares of Beneficial Interest) for additional information regarding shares repurchased.

Fund Use of Currency Options

For purposes of pursuing its investment goals, the Fund may use currency options as a hedging technique or to implement a currency investment strategy, which could expose a large amount of the Fund’s assets to obligations under these instruments. The Fund uses options to express macroeconomic and market views and to hedge foreign exchange and market risks on portfolio exposures, using the full suite of over-the-counter options products in strategies that both buy and sell options. The Fund is permitted to invest up to 25% of its net assets in currency options for hedging purposes and to invest up to 10% of its net assets in currency options for investment purposes. Additionally, the Fund is permitted to sell currency options up to 25% of its net assets.

Currency management strategies may substantially change the Fund’s exposure to currency exchange rates and could result in losses to the Fund if currencies do not perform as the investment manager expects. In addition, currency management strategies, to the extent that they reduce the Fund’s exposure to currency risks, may also reduce the Fund’s ability to benefit from favorable changes in currency exchange rates. Using currency management strategies for purposes other than hedging further increases the Fund’s exposure to foreign investment losses. Currency markets generally are not as regulated as securities markets. In addition, currency rates may fluctuate significantly over short periods of time, and can reduce returns.

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TEMPLETON GLOBAL INCOME FUND

Financial Highlights

	Year Ended December 31,									Year Ended August 31,
	2019			2018			2017			2016a			2016			2015
Per share operating performance
(for a share outstanding throughout the year)
Net asset value, beginning of year		$ 7.04			$ 7.25			$ 7.34			$ 7.09			$ 7.38			$ 8.72
Income from investment operations:
Net investment incomeb		0.38			0.37			0.36			0.10			0.31			0.33
Net realized and unrealized gains (losses)		(0.26	)		(0.23	)		(0.16	)		0.25			(0.30	)		(1.04	)
Total from investment operations		0.12			0.14			0.20			0.35			0.01			(0.71	)
Less distributions from:
Net investment income and net foreign currency gains		(0.41	)		(0.26	)		(0.29	)		—			(0.11	)		(0.63	)
Net realized gains		—			—			—			—			(0.02	)		(—	)c
Tax return of capital		—			(0.09	)		—			(0.10	)		(0.17	)		—
Total distributions		(0.41	)		(0.35	)		(0.29	)		(0.10	)		(0.30	)		(0.63	)
Net asset value, end of year		$ 6.75			$ 7.04			$ 7.25			$ 7.34			$ 7.09			$ 7.38
Market value, end of yeard		$ 6.13			$ 6.03			$ 6.46			$ 6.48			$ 6.43			$ 6.22
Total return (based on market value per share)e		8.52%			(1.24)%			4.10%			2.38%			8.35%			(14.76)%
Ratios to average net assetsf
Expenses before waiver and payments by affiliates and expense reduction		0.75%			0.79%			0.76%			0.73%			0.76%			0.74%
Expenses net of waiver and payments by affiliates		0.67%			0.71%			0.70%			0.69%			0.73%			0.73%
Expenses net of waiver and payments by affiliates and expense reduction		0.67%			0.71%g			0.69%			0.68%			0.73%g			0.73%
Net investment income		5.49%			5.18%			4.84%			4.31%			4.38%			4.14%
Supplemental data
Net assets, end of year (000’s)		$905,378			$944,988			$972,791			$984,355			$951,191			$989,595
Portfolio turnover rate		21.99%			35.47%			42.34%			25.94%			46.03%			35.51%

^aFor the period September 1, 2016 to December 31, 2016.

^bBased on average daily shares outstanding.

^cAmount rounds to less than $0.01 per share.

^dBased on the last sale on the New York Stock Exchange.

^eTotal return is not annualized for periods less than one year.

^fRatios are annualized for periods less than one year.

^gBenefit of expense reduction rounds to less than 0.01%.

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TEMPLETON GLOBAL INCOME FUND

Statement of Investments, December 31, 2019

	Principal  Amount*				Value
Foreign Government and Agency Securities 55.8%
Argentina 1.4%
a Argentina Treasury Bill,
Strip, 3/30/20		222,316,500		ARS	$	2,663,334
Strip, 4/28/20		115,319,200		ARS		1,765,269
Strip, 5/28/20		6,042,100		ARS		81,231
Strip, 7/29/20		82,632,800		ARS		1,176,922
Strip, 10/29/20		34,919,480		ARS		374,175
a Argentine Bonos del Tesoro,
18.20%, 10/03/21		252,627,000		ARS		1,348,066
16.00%, 10/17/23		283,431,000		ARS		1,361,011
senior note, 15.50%, 10/17/26		512,895,000		ARS		2,312,072
Government of Argentina,
a,b FRN, 52.564%, (ARS Badlar + 2.00%), 4/03/22		20,588,000		ARS		177,425
a,c Index Linked, 4.00%, 3/06/20		1,274,000		ARS		24,497
senior note, 4.50%, 2/13/20		2,821,000				1,429,090
						12,713,092
Brazil 10.3%
Letra Tesouro Nacional, Strip, 7/01/21		65,187	d	BRL		15,101,206
Nota do Tesouro Nacional,
10.00%, 1/01/21		73,235	d	BRL		19,155,495
10.00%, 1/01/23		6,218	d	BRL		1,720,010
10.00%, 1/01/25		75,193	d	BRL		21,494,799
10.00%, 1/01/27		123,130	d	BRL		36,088,167
						93,559,677
Colombia 1.5%
Government of Colombia,
senior bond, 7.75%, 4/14/21		983,000,000		COP		308,629
senior bond, 4.375%, 3/21/23		149,000,000		COP		44,412
senior bond, 9.85%, 6/28/27		237,000,000		COP		90,650
Titulos de Tesoreria,
B, 7.75%, 9/18/30		1,645,700,000		COP		554,466
senior bond, B, 11.00%, 7/24/20		1,144,000,000		COP		362,076
senior bond, B, 7.00%, 5/04/22		3,111,000,000		COP		990,150
senior bond, B, 10.00%, 7/24/24		12,183,000,000		COP		4,396,496
senior bond, B, 7.50%, 8/26/26		9,469,300,000		COP		3,148,379
senior bond, B, 6.00%, 4/28/28		13,320,000,000		COP		4,037,949
						13,933,207
Ghana 1.3%
Government of Ghana,
24.75%, 3/01/21		220,000		GHS		41,370
16.25%, 5/17/21		2,040,000		GHS		349,494
24.50%, 6/21/21		50,000		GHS		9,332
24.75%, 7/19/21		360,000		GHS		65,915
18.75%, 1/24/22		8,520,000		GHS		1,453,424
17.60%, 11/28/22		100,000		GHS		16,393
19.75%, 3/25/24		8,520,000		GHS		1,442,599
19.00%, 11/02/26		25,560,000		GHS		4,072,910
senior bond, 19.75%, 3/15/32		25,560,000		GHS		4,108,523

10         Annual Report franklintempleton.com

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

	Principal  Amount*			Value
Foreign Government and Agency Securities (continued)
Ghana (continued)
Government of Ghana, (continued)
senior note, 21.50%, 3/09/20		370,000	GHS	$	65,133
senior note, 18.50%, 6/01/20		140,000	GHS		24,328
senior note, 18.25%, 9/21/20		140,000	GHS		24,976
senior note, 16.50%, 3/22/21		490,000	GHS		84,857
					11,759,254
India 9.0%
Government of India,
senior bond, 8.20%, 2/15/22		282,000,000	INR		4,122,043
senior bond, 8.35%, 5/14/22		68,200,000	INR		1,001,695
senior bond, 8.08%, 8/02/22		549,000,000	INR		8,043,638
senior bond, 8.13%, 9/21/22		15,000,000	INR		220,440
senior bond, 9.15%, 11/14/24		387,000,000	INR		5,976,787
senior note, 8.27%, 6/09/20		476,000,000	INR		6,771,054
senior note, 7.80%, 4/11/21		697,700,000	INR		10,018,597
senior note, 8.79%, 11/08/21		225,000,000	INR		3,303,025
senior note, 8.15%, 6/11/22		540,000,000	INR		7,900,012
senior note, 6.84%, 12/19/22		111,000,000	INR		1,580,803
senior note, 7.16%, 5/20/23		42,900,000	INR		615,155
senior note, 8.83%, 11/25/23		966,400,000	INR		14,645,182
senior note, 7.68%, 12/15/23		730,000,000	INR		10,654,003
senior note, 6.79%, 5/15/27		492,800,000	INR		6,889,048
					81,741,482
Indonesia 8.5%
Government of Indonesia,
senior bond, FR31, 11.00%, 11/15/20		145,557,000,000	IDR		11,004,982
senior bond, FR34, 12.80%, 6/15/21		64,492,000,000	IDR		5,107,792
senior bond, FR35, 12.90%, 6/15/22		42,438,000,000	IDR		3,528,321
senior bond, FR39, 11.75%, 8/15/23		2,703,000,000	IDR		228,575
senior bond, FR42, 10.25%, 7/15/27		3,595,000,000	IDR		304,898
senior bond, FR43, 10.25%, 7/15/22		4,826,000,000	IDR		381,648
senior bond, FR44, 10.00%, 9/15/24		1,618,000,000	IDR		132,668
senior bond, FR46, 9.50%, 7/15/23		11,430,000,000	IDR		905,590
senior bond, FR47, 10.00%, 2/15/28		1,052,000,000	IDR		88,601
senior bond, FR52, 10.50%, 8/15/30		3,390,000,000	IDR		301,577
senior bond, FR53, 8.25%, 7/15/21		144,200,000,000	IDR		10,761,632
senior bond, FR56, 8.375%, 9/15/26		292,968,000,000	IDR		22,703,028
senior bond, FR61, 7.00%, 5/15/22		18,449,000,000	IDR		1,359,306
senior bond, FR63, 5.625%, 5/15/23		16,137,000,000	IDR		1,140,429
senior bond, FR64, 6.125%, 5/15/28		3,157,000,000	IDR		214,856
senior bond, FR70, 8.375%, 3/15/24		149,967,000,000	IDR		11,556,607
senior bond, FR71, 9.00%, 3/15/29		45,298,000,000	IDR		3,662,017
senior bond, FR73, 8.75%, 5/15/31		41,805,000,000	IDR		3,348,915
					76,731,442

franklintempleton.com Annual Report         11

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

	Principal  Amount*				Value
Foreign Government and Agency Securities (continued)
Mexico 14.4%
Government of Mexico,
senior bond, M, 6.50%, 6/10/21		18,789,460	e	MXN	$	98,990,884
senior bond, M, 6.50%, 6/09/22		2,327,300	e	MXN		12,241,713
senior bond, M, 8.00%, 12/07/23		445,500	e	MXN		2,453,023
senior note, M, 7.25%, 12/09/21		2,971,800	e	MXN		15,843,061
f Mexican Udibonos, Index Linked, 2.50%, 12/10/20		116,974	g	MXN		612,381
						130,141,062
Norway 3.8%
h,i Government of Norway,
144A, Reg S, 3.00%, 3/14/24		76,368,000		NOK		9,269,870
144A, Reg S, 1.75%, 3/13/25		28,937,000		NOK		3,358,670
144A, Reg S, 3.75%, 5/25/21		94,748,000		NOK		11,155,437
144A, Reg S, 2.00%, 5/24/23		90,931,000		NOK		10,565,659
						34,349,636
South Korea 4.5%
Korea Monetary Stabilization Bond, senior note, 1.18%, 8/02/21		2,322,000,000		KRW		2,002,738
Korea Treasury Bond,
senior note, 1.375%, 9/10/21		3,483,000,000		KRW		3,014,128
senior note, 2.00%, 12/10/21		4,254,000,000		KRW		3,724,461
senior note, 2.25%, 9/10/23		19,359,000,000		KRW		17,215,928
senior note, 1.375%, 9/10/24		11,135,070,000		KRW		9,587,889
senior note, 3.00%, 9/10/24		5,310,000,000		KRW		4,899,776
						40,444,920
j Supranational 1.1%
Inter-American Development Bank, senior bond, 7.50%, 12/05/24		185,000,000		MXN		10,022,895
Total Foreign Government and Agency Securities (Cost $567,178,298)						505,396,667
U.S. Government and Agency Securities 10.4%
United States 10.4%
U.S. Treasury Note,
1.125%, 6/30/21		21,500,000				21,350,033
1.125%, 7/31/21		20,265,000				20,113,738
1.125%, 8/31/21		8,388,000				8,323,253
1.50%, 8/31/21		4,809,000				4,801,133
1.125%, 9/30/21		2,737,000				2,714,371
1.50%, 9/30/21		30,797,000				30,747,163
2.125%, 12/31/21		3,094,000				3,126,223
2.625%, 7/15/21		2,975,000				3,021,441
Total U.S. Government and Agency Securities (Cost $94,317,633)						94,197,355

12         Annual Report franklintempleton.com

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

	Number of Contracts		Notional  Amount*			Value
Options Purchased 0.4%
Calls - Over-the-Counter
Currency Options 0.2%
AUD/JPY, Counterparty CITI, January Strike Price 79.00 JPY, Expires 1/23/20		1		10,303,000	AUD	$	1,525
AUD/JPY, Counterparty CITI, February Strike Price 79.45 JPY, Expires 2/12/20		1		5,506,000	AUD		2,133
AUD/JPY, Counterparty CITI, February Strike Price 82.35 JPY, Expires 2/12/20		1		869,000	AUD		24
AUD/JPY, Counterparty CITI, April Strike Price 79.30 JPY, Expires 4/22/20		1		4,644,000	AUD		10,698
AUD/JPY, Counterparty CITI, May Strike Price 84.00 JPY, Expires 5/06/20		1		3,864,000	AUD		824
AUD/JPY, Counterparty CITI, May Strike Price 86.63 JPY, Expires 5/06/20		1		4,250,000	AUD		328
AUD/JPY, Counterparty CITI, May Strike Price 78.75 JPY, Expires 5/07/20		1		3,864,000	AUD		14,291
AUD/JPY, Counterparty CITI, May Strike Price 85.50 JPY, Expires 5/07/20		1		15,455,000	AUD		1,713
AUD/JPY, Counterparty CITI, November Strike Price 84.33 JPY, Expires 11/12/20		1		2,898,000	AUD		4,408
AUD/JPY, Counterparty CITI, December Strike Price 82.15 JPY, Expires 12/21/20		1		11,592,000	AUD		42,831
AUD/USD, Counterparty HSBK, April Strike Price $0.77, Expires 4/30/20		1		4,830,000	AUD		1,098
AUD/USD, Counterparty HSBK, May Strike Price $0.77, Expires 5/04/20		1		6,086,000	AUD		1,738
AUD/USD, Counterparty HSBK, May Strike Price $0.77, Expires 5/07/20		1		3,864,000	AUD		830
AUD/USD, Counterparty MSCO, May Strike Price $0.77, Expires 5/12/21		1		6,955,000	AUD		38,010
USD/JPY, Counterparty CITI, March Strike Price 111.15 JPY, Expires 3/20/20		1		18,670,000			24,756
USD/JPY, Counterparty CITI, March Strike Price 111.40 JPY, Expires 3/30/20		1		21,782,000			28,883
USD/JPY, Counterparty CITI, September Strike Price 112.24 JPY, Expires 9/22/20		1		24,116,000			85,130
USD/MXN, Counterparty CITI, March Strike Price 20.78 MXN, Expires 3/09/20		1		6,147,000			4,844
USD/MXN, Counterparty CITI, March Strike Price 18.40 MXN, Expires 3/30/20		1		3,688,000			152,488
USD/MXN, Counterparty CITI, March Strike Price 21.92 MXN, Expires 3/30/20		1		5,532,000			2,417
USD/MXN, Counterparty CITI, May Strike Price 20.50 MXN, Expires 5/11/20		1		7,053,000			31,294
USD/MXN, Counterparty CITI, May Strike Price 20.09 MXN, Expires 5/12/20		1		6,456,000			44,553
USD/MXN, Counterparty CITI, May Strike Price 20.92 MXN, Expires 5/12/20		1		2,519,000			7,595
USD/MXN, Counterparty CITI, May Strike Price 20.87 MXN, Expires 5/14/20		1		14,206,000			46,354
USD/MXN, Counterparty CITI, May Strike Price 20.58 MXN, Expires 5/15/20		1		4,433,000			19,270
USD/MXN, Counterparty CITI, July Strike Price 21.03 MXN, Expires 7/30/20		1		3,934,000			26,389
USD/MXN, Counterparty CITI, September Strike Price 21.94 MXN, Expires 9/03/20		1		15,368,000			74,350
USD/MXN, Counterparty CITI, September Strike Price 21.70 MXN, Expires 9/08/20		1		15,352,000			89,057
USD/MXN, Counterparty CITI, September Strike Price 20.85 MXN, Expires 9/17/20		1		14,123,000			153,390
USD/MXN, Counterparty GSCO, March Strike Price 21.20 MXN, Expires 3/12/20		1		14,800,000			7,770
USD/MXN, Counterparty JPHQ, March Strike Price 20.89 MXN, Expires 3/05/20		1		5,348,000			3,166
USD/MXN, Counterparty JPHQ, April Strike Price 20.11 MXN, Expires 4/24/20		1		7,103,000			38,221
USD/MXN, Counterparty JPHQ, May Strike Price 20.47 MXN, Expires 5/13/20		1		8,118,000			38,049
USD/MXN, Counterparty JPHQ, June Strike Price 20.70 MXN, Expires 6/12/20		1		2,670,000			14,119
USD/MXN, Counterparty JPHQ, July Strike Price 20.90 MXN, Expires 7/27/20		1		4,059,000			29,079
USD/MXN, Counterparty MSCO, February Strike Price 18.94 MXN, Expires 2/06/20		1		21,391,000			224,413
USD/MXN, Counterparty MSCO, February Strike Price 20.67 MXN, Expires 2/06/20		1		10,696,000			2,257
USD/MXN, Counterparty MSCO, February Strike Price 19.65 MXN, Expires 2/20/20		1		24,587,000			64,787

franklintempleton.com Annual Report         13

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

	Number of Contracts		Notional  Amount*			Value
Options Purchased (continued)
Calls - Over-the-Counter (continued)
Currency Options (continued)
USD/MXN, Counterparty MSCO, February Strike Price 20.98 MXN, Expires 2/20/20		1		12,293,000		$	3,098
USD/MXN, Counterparty MSCO, March Strike Price 21.58 MXN, Expires 3/05/20		1		12,294,000			3,270
USD/MXN, Counterparty MSCO, March Strike Price 24.81 MXN, Expires 3/05/20		1		6,147,000			123
USD/MXN, Counterparty MSCO, March Strike Price 21.36 MXN, Expires 3/10/20		1		23,052,000			9,382
USD/MXN, Counterparty MSCO, March Strike Price 20.90 MXN, Expires 3/12/20		1		4,000,000			3,012
USD/MXN, Counterparty MSCO, June Strike Price 21.45 MXN, Expires 6/15/20		1		4,000,000			11,544
USD/MXN, Counterparty MSCO, September Strike Price 22.33 MXN, Expires 9/04/20		1		12,294,000			48,020
USD/MXN, Counterparty MSCO, September Strike Price 25.97 MXN, Expires 9/04/20		1		12,294,000			9,688
							1,421,219
Puts - Over-the-Counter
Currency Options 0.2%
AUD/JPY, Counterparty CITI, May Strike Price 69.54 JPY, Expires 5/06/20		1		3,091,000	AUD		6,864
AUD/JPY, Counterparty CITI, May Strike Price 70.65 JPY, Expires 5/06/20		1		1,932,000	AUD		5,779
AUD/JPY, Counterparty CITI, May Strike Price 74.48 JPY, Expires 5/06/20		1		3,091,000	AUD		27,516
AUD/JPY, Counterparty CITI, May Strike Price 75.05 JPY, Expires 5/06/20		1		1,932,000	AUD		20,381
AUD/JPY, Counterparty CITI, May Strike Price 65.55 JPY, Expires 5/07/20		1		1,932,000	AUD		1,592
AUD/JPY, Counterparty CITI, May Strike Price 73.25 JPY, Expires 5/07/20		1		6,440,000	AUD		40,315
AUD/JPY, Counterparty CITI, July Strike Price 72.00 JPY, Expires 7/21/20		1		23,183,000	AUD		175,514
AUD/JPY, Counterparty CITI, November Strike Price 66.78 JPY, Expires 11/12/20		1		1,449,000	AUD		7,449
AUD/JPY, Counterparty CITI, November Strike Price 69.18 JPY, Expires 11/12/20		1		869,000	AUD		6,627
AUD/JPY, Counterparty CITI, November Strike Price 72.78 JPY, Expires 11/12/20		1		3,622,000	AUD		51,257
AUD/JPY, Counterparty CITI, November Strike Price 74.00 JPY, Expires 11/12/20		1		2,608,000	AUD		45,768
AUD/JPY, Counterparty CITI, December Strike Price 65.85 JPY, Expires 12/21/20		1		5,796,000	AUD		30,895
AUD/USD, Counterparty HSBK, April Strike Price $0.68, Expires 4/30/20		1		6,440,000	AUD		21,061
AUD/USD, Counterparty HSBK, May Strike Price $0.68, Expires 5/04/20		1		8,050,000	AUD		22,412
AUD/USD, Counterparty HSBK, May Strike Price $0.66, Expires 5/05/20		1		6,440,000	AUD		10,551
AUD/USD, Counterparty HSBK, May Strike Price $0.65, Expires 5/07/20		1		7,728,000	AUD		7,429
AUD/USD, Counterparty HSBK, May Strike Price $0.68, Expires 5/07/20		1		3,864,000	AUD		11,658
AUD/USD, Counterparty MSCO, August Strike Price $0.67, Expires 8/12/20		1		21,896,000	AUD		105,823
USD/JPY, Counterparty CITI, March Strike Price 100.11 JPY, Expires 3/20/20		1		18,670,000			10,343
USD/JPY, Counterparty CITI, March Strike Price 105.29 JPY, Expires 3/20/20		1		37,341,000			116,952
USD/JPY, Counterparty CITI, March Strike Price 104.61 JPY, Expires 3/30/20		1		43,564,000			127,338
USD/JPY, Counterparty CITI, September Strike Price 104.48 JPY, Expires 9/22/20		1		48,232,000			573,864
USD/MXN, Counterparty CITI, March Strike Price 18.35 MXN, Expires 3/06/20		1		6,550,000			7,375
USD/MXN, Counterparty CITI, March Strike Price 18.68 MXN, Expires 3/09/20		1		4,610,000			16,776
USD/MXN, Counterparty CITI, May Strike Price 18.31 MXN, Expires 5/14/20		1		3,552,000			8,646

14         Annual Report franklintempleton.com

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

	Number of Contracts		Notional  Amount*			Value
Options Purchased (continued)
Puts - Over-the-Counter (continued)
Currency Options (continued)
USD/MXN, Counterparty CITI, September Strike Price 19.11 MXN, Expires 9/03/20		1		7,684,000		$	110,150
USD/MXN, Counterparty GSCO, March Strike Price 18.57 MXN, Expires 3/12/20		1		2,460,000			6,256
USD/MXN, Counterparty JPHQ, January Strike Price 18.50 MXN, Expires 1/27/20		1		3,044,000			1,759
USD/MXN, Counterparty JPHQ, March Strike Price 18.74 MXN, Expires 3/05/20		1		4,011,000			16,914
USD/MXN, Counterparty MSCO, March Strike Price 18.92 MXN, Expires 3/10/20		1		3,074,000			23,719
							1,618,983
Total Options Purchased (Cost $10,459,186)							3,040,202
Total Investments before Short Term Investments (Cost $671,955,117)							602,634,224
			Principal  Amount*
Short Term Investments 30.9%
Foreign Government and Agency Securities 5.6%
Argentina 0.1%
a Argentina Treasury Bill,
k 2/26/20 - 5/13/20				69,052,120	ARS		799,255
Strip, 8/27/20				18,456,380	ARS		211,279
a,b Government of Argentina, FRN, 70.253%, (ARPP7DRR), 6/21/20				9,682,390	ARS		84,691
							1,095,225
Japan 4.7%
k Japan Treasury Discount Bill,
1/14/20				1,023,000,000	JPY		9,413,718
1/20/20 - 9/23/20				2,584,300,000	JPY		23,790,619
1/27/20				1,020,000,000	JPY		9,386,835
							42,591,172
Norway 0.8%
h,i,k Norway Treasury Bill, 144A, Reg S, 3/18/20 - 9/16/20				64,725,000	NOK		7,341,932
Total Foreign Government and Agency Securities (Cost $50,809,026)							51,028,329
U.S. Government and Agency Securities (Cost $2,998,011) 0.3%
United States 0.3%
U.S. Treasury Note, 1.25%, 1/31/20				3,000,000			2,999,059
Total Investments before Money Market Funds (Cost $725,762,154)							656,661,612

franklintempleton.com Annual Report         15

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

			Shares			Value
Short Term Investments (continued)
Money Market Funds (Cost $226,097,663) 25.0%
United States 25.0%
l,m Institutional Fiduciary Trust Money Market Portfolio, 1.26%				226,097,663		$	226,097,663
Total Investments (Cost $951,859,817) 97.5%							882,759,275
Options Written (0.6)%							(5,173,583	)
Other Assets, less Liabilities 3.1%							27,792,567
Net Assets 100.0%						$	905,378,259
	Number of Contracts		Notional  Amount*
n Options Written (0.6)%
Calls - Over-the-Counter
Currency Options (0.3)%
AUD/JPY, Counterparty CITI, January Strike Price 76.70 JPY, Expires 1/23/20		1		9,009,000	AUD		(29,065	)
AUD/JPY, Counterparty CITI, February Strike Price 75.90 JPY, Expires 2/12/20		1		5,506,000	AUD		(49,724	)
AUD/JPY, Counterparty CITI, February Strike Price 77.28 JPY, Expires 2/12/20		1		2,898,000	AUD		(9,376	)
AUD/JPY, Counterparty CITI, February Strike Price 78.18 JPY, Expires 2/12/20		1		1,739,000	AUD		(2,426	)
AUD/JPY, Counterparty CITI, April Strike Price 75.95 JPY, Expires 4/22/20		1		4,644,000	AUD		(60,445	)
AUD/JPY, Counterparty CITI, May Strike Price 76.00 JPY, Expires 5/06/20		1		8,114,000	AUD		(108,563	)
AUD/JPY, Counterparty CITI, May Strike Price 76.50 JPY, Expires 5/07/20		1		7,728,000	AUD		(85,044	)
AUD/JPY, Counterparty CITI, May Strike Price 77.35 JPY, Expires 5/07/20		1		3,863,000	AUD		(29,170	)
AUD/JPY, Counterparty CITI, December Strike Price 75.70 JPY, Expires 12/21/20		1		11,592,000	AUD		(258,288	)
AUD/USD, Counterparty HSBK, April Strike Price $0.71, Expires 4/30/20		1		4,830,000	AUD		(37,211	)
AUD/USD, Counterparty HSBK, May Strike Price $0.71, Expires 5/04/20		1		6,086,000	AUD		(57,499	)
AUD/USD, Counterparty HSBK, November Strike Price $0.71, Expires 11/05/20		1		3,864,000	AUD		(56,100	)
AUD/USD, Counterparty HSBK, November Strike Price $0.80, Expires 11/05/20		1		7,728,000	AUD		(6,588	)
AUD/USD, Counterparty HSBK, May Strike Price $0.78, Expires 5/05/21		1		6,440,000	AUD		(27,740	)
AUD/USD, Counterparty MSCO, August Strike Price $0.74, Expires 8/12/20		1		8,211,000	AUD		(35,449	)
AUD/USD, Counterparty MSCO, May Strike Price $0.74, Expires 5/12/21		1		13,911,000	AUD		(157,098	)
USD/JPY, Counterparty CITI, March Strike Price 108.91 JPY, Expires 3/20/20		1		37,341,000			(244,658	)
USD/JPY, Counterparty CITI, March Strike Price 109.16 JPY, Expires 3/30/20		1		43,564,000			(264,695	)
USD/JPY, Counterparty CITI, September Strike Price 108.77 JPY, Expires 9/22/20		1		48,232,000			(591,469	)
USD/MXN, Counterparty CITI, January Strike Price 19.96 MXN, Expires 1/30/20		1		1,967,000			(905	)
USD/MXN, Counterparty CITI, March Strike Price 21.82 MXN, Expires 3/06/20		1		3,821,000			(829	)
USD/MXN, Counterparty CITI, March Strike Price 19.95 MXN, Expires 3/30/20		1		7,377,000			(30,865	)
USD/MXN, Counterparty CITI, May Strike Price 19.34 MXN, Expires 5/12/20		1		3,228,000			(54,011	)
USD/MXN, Counterparty CITI, May Strike Price 22.85 MXN, Expires 5/14/20		1		7,103,000			(5,242	)
USD/MXN, Counterparty CITI, May Strike Price 22.91 MXN, Expires 5/21/20		1		1,360,000			(1,062	)
USD/MXN, Counterparty CITI, September Strike Price 23.00 MXN, Expires 9/03/20		1		7,684,000			(20,839	)
USD/MXN, Counterparty CITI, September Strike Price 24.30 MXN, Expires 9/08/20		1		5,117,000			(7,916	)
USD/MXN, Counterparty CITI, September Strike Price 20.06 MXN, Expires 9/17/20		1		7,061,000			(137,266	)
USD/MXN, Counterparty CITI, September Strike Price 22.40 MXN, Expires 9/17/20		1		7,061,000			(29,593	)
USD/MXN, Counterparty GSCO, March Strike Price 19.49 MXN, Expires 3/12/20		1		4,920,000			(30,504	)

16         Annual Report franklintempleton.com

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

	Number of Contracts		Notional  Amount*			Value
n Options Written (continued)
Calls - Over-the-Counter (continued)
Currency Options (continued)
USD/MXN, Counterparty GSCO, March Strike Price 22.11 MXN, Expires 3/12/20		1		4,920,000		$	(1,014	)
USD/MXN, Counterparty JPHQ, May Strike Price 21.54 MXN, Expires 5/13/20		1		5,074,000			(9,184	)
USD/MXN, Counterparty JPHQ, July Strike Price 22.30 MXN, Expires 7/27/20		1		4,059,000			(11,519	)
USD/MXN, Counterparty MSCO, February Strike Price 19.98 MXN, Expires 2/06/20		1		32,087,000			(24,097	)
USD/MXN, Counterparty MSCO, February Strike Price 20.15 MXN, Expires 2/20/20		1		36,880,000			(35,663	)
USD/MXN, Counterparty MSCO, March Strike Price 22.56 MXN, Expires 3/05/20		1		9,221,000			(950	)
USD/MXN, Counterparty MSCO, March Strike Price 20.49 MXN, Expires 3/10/20		1		7,684,000			(9,175	)
USD/MXN, Counterparty MSCO, March Strike Price 22.87 MXN, Expires 3/12/20		1		3,000,000			(318	)
USD/MXN, Counterparty MSCO, June Strike Price 24.20 MXN, Expires 6/15/20		1		2,000,000			(1,034	)
USD/MXN, Counterparty MSCO, September Strike Price 24.56 MXN, Expires 9/04/20		1		18,441,000			(24,729	)
USD/MXN, Counterparty MSCO, September Strike Price 22.46 MXN, Expires 9/10/20		1		1,537,000			(5,851	)
							(2,553,174	)
Puts - Over-the-Counter
Currency Options (0.3)%
AUD/JPY, Counterparty CITI, July Strike Price 68.00 JPY, Expires 7/21/20		1		10,303,000	AUD		(33,044	)
AUD/USD, Counterparty MSCO, August Strike Price $0.64, Expires 8/12/20		1		5,474,000	AUD		(8,511	)
USD/JPY, Counterparty CITI, March Strike Price 102.84 JPY, Expires 3/20/20		1		37,341,000			(48,917	)
USD/JPY, Counterparty CITI, March Strike Price 100.13 JPY, Expires 3/30/20		1		21,782,000			(15,857	)
USD/JPY, Counterparty CITI, September Strike Price 100.03 JPY, Expires 9/22/20		1		24,116,000			(123,402	)
USD/MXN, Counterparty CITI, March Strike Price 18.96 MXN, Expires 3/06/20		1		6,141,000			(50,528	)
USD/MXN, Counterparty CITI, March Strike Price 19.38 MXN, Expires 3/06/20		1		3,685,000			(80,167	)
USD/MXN, Counterparty CITI, March Strike Price 19.37 MXN, Expires 3/09/20		1		9,221,000			(196,730	)
USD/MXN, Counterparty CITI, May Strike Price 19.55 MXN, Expires 5/11/20		1		7,053,000			(190,410	)
USD/MXN, Counterparty CITI, May Strike Price 19.69 MXN, Expires 5/12/20		1		2,519,000			(81,099	)
USD/MXN, Counterparty CITI, May Strike Price 19.24 MXN, Expires 5/14/20		1		10,655,000			(180,240	)
USD/MXN, Counterparty CITI, May Strike Price 20.58 MXN, Expires 5/15/20		1		4,433,000			(312,912	)
USD/MXN, Counterparty CITI, May Strike Price 19.09 MXN, Expires 5/21/20		1		1,360,000			(17,583	)
USD/MXN, Counterparty CITI, September Strike Price 19.76 MXN, Expires 9/03/20		1		15,368,000			(470,353	)
USD/MXN, Counterparty GSCO, March Strike Price 19.40 MXN, Expires 3/12/20		1		6,100,000			(135,762	)
USD/MXN, Counterparty JPHQ, January Strike Price 19.00 MXN, Expires 1/27/20		1		8,118,000			(62,703	)
USD/MXN, Counterparty JPHQ, March Strike Price 19.45 MXN, Expires 3/05/20		1		8,022,000			(197,125	)
USD/MXN, Counterparty JPHQ, April Strike Price 19.36 MXN, Expires 4/24/20		1		7,103,000			(144,532	)
USD/MXN, Counterparty JPHQ, June Strike Price 19.40 MXN, Expires 6/12/20		1		2,670,000			(56,981	)
USD/MXN, Counterparty MSCO, March Strike Price 19.05 MXN, Expires 3/12/20		1		3,000,000			(31,665	)
USD/MXN, Counterparty MSCO, June Strike Price 19.05 MXN, Expires 6/15/20		1		3,000,000			(37,581	)

franklintempleton.com Annual Report         17

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

	Number of Contracts		Notional Amount*		Value
n Options Written (continued)
Currency Options (continued)
USD/MXN, Counterparty MSCO, September Strike Price 19.76 MXN, Expires 9/10/20		1		4,610,000	$	(144,307	)
						(2,620,409	)
Total Options Written (Premiums received $7,391,382)						(5,173,583	)

*The principal/notional amount is stated in U.S. dollars unless otherwise indicated.

^aSecurities denominated in Argentine Peso have been designated as Level 3 investments. See Note 10 regarding fair value measurements.

^bThe coupon rate shown represents the rate at period end.

^cRedemption price at maturity and coupon payment are adjusted for inflation. See Note 1(f).

^dPrincipal amount is stated in 1,000 Brazilian Real Units.

^ePrincipal amount is stated in 100 Mexican Peso Units.

^fPrincipal amount of security is adjusted for inflation. See Note 1(f).

^gPrincipal amount is stated in 100 Unidad de Inversion Units.

^hSecurity was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At December 31, 2019, the aggregate value of these securities was $41,691,568, representing 4.6% of net assets.

ⁱSecurity was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. At December 31, 2019, the aggregate value of these securities was $41,691,568, representing 4.6% of net assets.

^jA supranational organization is an entity formed by two or more central governments through international treaties.

^kThe security was issued on a discount basis with no stated coupon rate.

^lSee Note 3(c) regarding investments in affiliated management investment companies.

^mThe rate shown is the annualized seven-day effective yield at period end.

ⁿSee Note 1(c) regarding written options.

At December 31, 2019, the Fund had the following forward exchange contracts outstanding. See Note 1(c).

Forward Exchange Contracts

Currency	Counterpartya		Type		Quantity		Contract  Amount*			Settlement Date		Unrealized Appreciation		Unrealized Depreciation
OTC Forward Exchange Contracts
Norwegian Krone		DBAB		Buy		17,872,000		1,957,739			1/03/20	$	78,405	$	—
Norwegian Krone		DBAB		Sell		17,872,000		1,944,892			1/03/20		—		(91,252	)
Indian Rupee		BNDP		Sell		363,139,700		5,064,357			1/07/20		—		(23,294	)
Indian Rupee		BNDP		Sell		102,165,000		1,400,528			1/13/20		—		(30,449	)
Australian Dollar		JPHQ		Sell		6,470,000		474,567,965	JPY		1/14/20		—		(171,008	)
Australian Dollar		JPHQ		Buy		10,311,000		7,003,994			1/15/20		233,533		—
Australian Dollar		JPHQ		Sell		10,311,000		7,224,041			1/15/20		—		(13,486	)
Indian Rupee		CITI		Sell		793,162,000		10,831,107			1/16/20		—		(276,888	)
Euro		SCNY		Buy		6,873,000		7,655,285			1/17/20		60,851		—
Euro		SCNY		Sell		6,873,000		7,636,659			1/17/20		—		(79,476	)
South Korean Won		CITI		Sell		616,384,000		513,482			1/17/20		—		(19,907	)
South Korean Won		HSBK		Sell		12,970,000,000		11,082,628			1/30/20		—		(143,893	)
Euro		JPHQ		Buy		893,000		998,102			2/03/20		5,525		—
Euro		JPHQ		Sell		893,000		1,009,304			2/03/20		5,677		—
Indian Rupee		HSBK		Sell		912,750,357		12,713,878			2/03/20		—		(55,552	)
Brazilian Real		JPHQ		Sell		19,847,700		4,821,265			2/04/20		—		(113,049	)
Indian Rupee		HSBK		Sell		805,601,061		11,194,672			2/05/20		—		(73,263	)

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TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

Forward Exchange Contracts (continued)

Currency	Counterpartya		Type		Quantity		Contract  Amount*			Settlement Date		Unrealized Appreciation		Unrealized Depreciation
OTC Forward Exchange Contracts (continued)
Indian Rupee		BNDP		Sell		366,171,300		5,108,310			2/06/20	$	—	$	(12,764	)
Indian Rupee		HSBK		Sell		425,413,000		5,959,417			2/06/20		9,821		—
South Korean Won		DBAB		Sell		5,870,000,000		4,864,910			2/10/20		—		(217,239	)
Swiss Franc		UBSW		Buy		5,622,151		5,116,628	EUR		2/10/20		74,239		—
Euro		JPHQ		Buy		3,156,669		3,530,166			2/12/20		19,489		—
Euro		JPHQ		Sell		3,156,669		3,516,867			2/12/20		—		(32,788	)
South Korean Won		HSBK		Sell		7,321,000,000		6,291,140			2/12/20		—		(47,537	)
Swiss Franc		GSCO		Buy		5,517,599		5,023,123	EUR		2/12/20		71,101		—
Swedish Krona		DBAB		Buy		25,286,100		2,368,544	EUR		2/13/20		41,941		—
Indian Rupee		HSBK		Sell		213,251,757		2,945,792			2/14/20		—		(34,021	)
Indian Rupee		HSBK		Sell		553,716,000		7,637,989			2/18/20		—		(95,817	)
Indian Rupee		JPHQ		Sell		805,429,500		11,115,889			2/20/20		—		(131,163	)
Australian Dollar		JPHQ		Sell		16,082,875		1,150,914,665	JPY		2/21/20		—		(677,398	)
South Korean Won		CITI		Sell		6,847,000,000		5,881,797			2/21/20		—		(47,644	)
Euro		SCNY		Buy		3,955,000		4,415,659			2/24/20		34,943		—
Euro		SCNY		Sell		3,955,000		4,438,894			2/24/20		—		(11,707	)
Australian Dollar		CITI		Sell		10,996,440		786,149,250	JPY		2/25/20		—		(469,357	)
Australian Dollar		JPHQ		Sell		10,420,500		747,300,947	JPY		2/25/20		—		(423,300	)
Euro		HSBK		Sell		7,079,963		835,461,144	JPY		2/25/20		—		(255,493	)
Japanese Yen		CITI		Buy		1,097,248,900		10,447,015			2/26/20		—		(317,734	)
Japanese Yen		CITI		Sell		1,097,248,900		10,261,616			2/26/20		132,335		—
Norwegian Krone		DBAB		Buy		43,803,500		4,891,677			2/26/20		99,777		—
Norwegian Krone		DBAB		Sell		43,803,500		4,766,950			2/26/20		—		(224,505	)
Japanese Yen		CITI		Buy		748,182,800		7,116,496			2/27/20		—		(209,235	)
Japanese Yen		CITI		Sell		748,182,800		7,000,213			2/27/20		92,952		—
Japanese Yen		JPHQ		Buy		739,475,000		7,033,438			2/27/20		—		(206,568	)
Euro		BZWS		Buy		2,175,778		2,434,598			2/28/20		14,420		—
Euro		BZWS		Sell		2,175,778		2,445,020			2/28/20		—		(3,998	)
Japanese Yen		CITI		Buy		1,436,811,000		13,762,749			2/28/20		—		(497,284	)
Japanese Yen		CITI		Sell		1,436,811,000		13,437,119			2/28/20		171,655		—
Brazilian Real		JPHQ		Sell		24,886,400		6,026,580			3/03/20		—		(150,093	)
Australian Dollar		CITI		Sell		5,777,000		413,734,493	JPY		3/06/20		—		(238,629	)
Japanese Yen		HSBK		Buy		520,970,830		4,910,576			3/06/20		—		(98,703	)
Japanese Yen		JPHQ		Buy		494,791,690		4,668,862			3/06/20		—		(98,789	)
Japanese Yen		JPHQ		Sell		494,791,690		4,703,181			3/06/20		133,109		—
South Korean Won		DBAB		Sell		5,874,000,000		4,885,636			3/06/20		—		(203,842	)
Australian Dollar		HSBK		Sell		4,940,000		363,835,940	JPY		3/12/20		—		(110,621	)
Australian Dollar		JPHQ		Sell		5,850,000		436,559,526	JPY		3/12/20		—		(78,322	)
Australian Dollar		HSBK		Sell		2,520,000		187,363,260	JPY		3/13/20		—		(40,087	)
Swedish Krona		DBAB		Buy		25,286,200		2,367,666	EUR		3/13/20		41,818		—
Indian Rupee		JPHQ		Sell		220,854,500		3,024,368			3/16/20		—		(50,101	)
South Korean Won		CITI		Sell		2,579,000,000		2,190,885			3/20/20		—		(45,472	)
Euro		GSCO		Buy		1,285,078		1,435,959			3/23/20		12,751		—
Euro		GSCO		Sell		1,285,078		1,440,289			3/23/20		—		(8,420	)
Japanese Yen		HSBK		Buy		1,966,726,540		18,509,745			3/23/20		—		(326,181	)
Japanese Yen		HSBK		Sell		1,583,000,000		15,092,030			3/23/20		456,246		—
Japanese Yen		JPHQ		Buy		1,331,363,580		12,520,037			3/23/20		—		(210,783	)
Japanese Yen		JPHQ		Sell		1,331,363,580		12,666,960			3/23/20		357,706		—

franklintempleton.com Annual Report         19

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

Forward Exchange Contracts (continued)

Currency	Counterpartya		Type		Quantity		Contract  Amount*			Settlement Date		Unrealized Appreciation		Unrealized Depreciation
OTC Forward Exchange Contracts (continued)
Norwegian Krone		DBAB		Buy		35,776,500		4,001,532			3/23/20	$	75,351	$	—
Norwegian Krone		DBAB		Sell		35,776,500		3,923,034			3/23/20		—		(153,849	)
Japanese Yen		JPHQ		Buy		345,545,070		3,280,374			3/24/20		—		(85,415	)
Japanese Yen		JPHQ		Sell		345,545,070		3,291,407			3/24/20		96,448		—
Norwegian Krone		DBAB		Buy		26,911,000		2,992,738			3/24/20		73,887		—
Norwegian Krone		DBAB		Sell		26,911,000		2,928,578			3/24/20		—		(138,046	)
Euro		HSBK		Sell		7,080,147		837,015,006	JPY		3/25/20		—		(243,098	)
Euro		JPHQ		Buy		3,359,037		3,752,518			3/25/20		34,724		—
Euro		JPHQ		Sell		3,359,037		3,739,313			3/25/20		—		(47,929	)
Euro		BZWS		Sell		1,087,889		1,205,376			3/31/20		—		(21,671	)
Euro		CITI		Sell		283,400		33,395,794	JPY		3/31/20		—		(10,742	)
Euro		SCNY		Buy		4,385,600		4,900,650			3/31/20		45,935		—
Euro		SCNY		Sell		4,385,601		4,861,614			3/31/20		—		(84,971	)
Euro		HSBK		Buy		2,972,000		3,320,721			4/01/20		31,651		—
Euro		HSBK		Sell		2,972,000		3,293,511			4/01/20		—		(58,861	)
Euro		CITI		Sell		40,685,750		4,795,979,249	JPY		4/02/20		—		(1,528,323	)
Swedish Krona		DBAB		Buy		90,410,200		8,353,525	EUR		4/03/20		272,805		—
Mexican Peso		CITI		Sell		48,448,000		2,412,353			4/08/20		—		(110,613	)
Euro		UBSW		Buy		13,525,000		15,148,811			4/09/20		114,775		—
Euro		UBSW		Sell		13,525,000		15,047,915			4/09/20		—		(215,671	)
Euro		BZWS		Buy		4,094,000		4,579,215			4/14/20		42,490		—
Euro		BZWS		Sell		4,094,000		4,551,464			4/14/20		—		(70,241	)
Euro		JPHQ		Buy		7,083,554		7,923,968			4/14/20		72,635		—
Euro		JPHQ		Sell		7,083,554		7,871,847			4/14/20		—		(124,756	)
Euro		GSCO		Buy		1,931,727		2,161,660			4/15/20		19,196		—
Euro		GSCO		Sell		1,931,727		2,158,865			4/15/20		—		(21,992	)
Swedish Krona		DBAB		Buy		25,286,200		2,326,430	EUR		4/15/20		87,018		—
Euro		GSCO		Buy		1,285,391		1,439,072			4/23/20		12,814		—
Euro		GSCO		Sell		1,285,391		1,451,335			4/23/20		—		(552	)
Euro		UBSW		Buy		714,093		800,548			4/24/20		6,091		—
Euro		UBSW		Sell		1,228,000		1,383,618			4/24/20		—		(3,530	)
Euro		GSCO		Buy		451,231		505,366			4/29/20		4,504		—
Euro		GSCO		Sell		451,231		507,058			4/29/20		—		(2,812	)
Euro		SCNY		Buy		4,300,311		4,820,972			4/29/20		38,170		—
Euro		SCNY		Sell		4,300,311		4,831,894			4/29/20		—		(27,247	)
Euro		CITI		Sell		283,400		34,282,898	JPY		4/30/20		—		(2,599	)
Euro		GSCO		Buy		1,784,250		1,998,449			4/30/20		17,792		—
Euro		GSCO		Sell		1,784,250		2,003,481			4/30/20		—		(12,760	)
Japanese Yen		CITI		Buy		324,391,600		3,022,728			4/30/20		—		(17,069	)
Brazilian Real		JPHQ		Sell		22,511,000		5,430,763			5/05/20		—		(139,750	)
Euro		JPHQ		Buy		4,312,000		4,830,453			5/08/20		44,627		—
Euro		JPHQ		Sell		4,312,000		4,836,339			5/08/20		—		(38,741	)
Swiss Franc		UBSW		Buy		5,622,151		5,120,962	EUR		5/08/20		74,196		—
Swiss Franc		GSCO		Buy		5,517,599		5,027,425	EUR		5/12/20		71,100		—
Swedish Krona		DBAB		Buy		25,286,200		2,375,429	EUR		5/13/20		30,524		—
Euro		HSBK		Sell		7,662,000		8,538,839			5/14/20		—		(126,937	)
Euro		JPHQ		Sell		932,604		1,040,040			5/14/20		—		(14,742	)
South Korean Won		CITI		Sell		5,173,000,000		4,477,431			5/15/20		—		(16,358	)

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TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

Forward Exchange Contracts (continued)

Currency	Counterpartya		Type		Quantity		Contract  Amount*			Settlement Date		Unrealized Appreciation		Unrealized Depreciation
OTC Forward Exchange Contracts (continued)
Indian Rupee		JPHQ		Sell		299,959,000		4,073,316			5/18/20	$	—	$	(70,028	)
Swedish Krona		DBAB		Buy		4,832,000		505,497			5/19/20		13,841		—
Euro		JPHQ		Sell		36,690,814		41,089,382			5/20/20		—		(423,708	)
Australian Dollar		JPHQ		Sell		32,165,750		2,332,742,867	JPY		5/21/20		—		(1,004,950	)
Euro		JPHQ		Sell		12,683,779		14,213,062			5/21/20		—		(138,641	)
Euro		HSBK		Sell		14,159,926		1,686,378,555	JPY		5/22/20		—		(378,429	)
Euro		JPHQ		Sell		12,683,779		14,193,973			5/22/20		—		(158,625	)
Japanese Yen		JPHQ		Buy		739,460,800		6,886,392			5/26/20		—		(24,870	)
Swedish Krona		DBAB		Buy		60,018,807		6,307,942			5/26/20		144,902		—
Euro		MSCO		Sell		4,545,000		5,068,584			5/27/20		—		(76,010	)
Swedish Krona		DBAB		Buy		97,113,000		10,199,392			5/27/20		242,068		—
Euro		BZWS		Sell		1,087,889		1,217,326			5/29/20		—		(14,235	)
Euro		HSBK		Sell		4,550,000		5,100,891			6/04/20		—		(51,933	)
Euro		JPHQ		Sell		6,016,524		6,742,448			6/04/20		—		(71,199	)
Euro		SCNY		Sell		1,325,806		1,486,031			6/05/20		—		(15,523	)
Japanese Yen		HSBK		Buy		520,970,850		4,939,067			6/08/20		—		(101,392	)
Japanese Yen		JPHQ		Buy		494,791,690		4,696,337			6/08/20		—		(101,759	)
Japanese Yen		JPHQ		Sell		494,791,690		4,733,082			6/08/20		138,504		—
Australian Dollar		HSBK		Sell		7,500,000		552,551,560	JPY		6/12/20		—		(150,343	)
Australian Dollar		JPHQ		Sell		11,470,000		847,522,297	JPY		6/12/20		—		(206,828	)
Euro		JPHQ		Sell		916,524		1,065,111			6/15/20		26,445		—
Norwegian Krone		JPHQ		Buy		64,393,600		7,036,821			6/15/20		301,228		—
Swedish Krona		DBAB		Buy		25,286,100		2,364,645	EUR		6/15/20		41,339		—
Swedish Krona		DBAB		Buy		25,286,200		2,409,586	EUR		6/15/20		—		(9,580	)
Norwegian Krone		JPHQ		Buy		64,001,800		7,036,830			6/16/20		256,572		—
Mexican Peso		CITI		Sell		166,125,000		8,171,212			6/17/20		—		(391,774	)
Japanese Yen		HSBK		Buy		336,807,120		3,106,360			6/18/20		22,955		—
Norwegian Krone		JPHQ		Buy		65,563,400		7,274,557			6/19/20		196,802		—
Japanese Yen		JPHQ		Buy		666,398,580		6,301,528			6/22/20		—		(108,544	)
Japanese Yen		JPHQ		Sell		666,398,580		6,378,912			6/22/20		185,928		—
Japanese Yen		BNDP		Buy		1,684,055,930		16,084,717			6/24/20		—		(432,660	)
Euro		CITI		Sell		283,400		33,390,126	JPY		6/30/20		—		(11,027	)
Euro		JPHQ		Sell		11,085,000		12,587,073			7/23/20		—		(4,996	)
Euro		UBSW		Sell		5,829,129		6,618,685			7/23/20		—		(2,948	)
Swiss Franc		UBSW		Buy		5,622,152		5,125,025	EUR		8/10/20		74,264		—
Swiss Franc		GSCO		Buy		5,517,599		5,031,551	EUR		8/12/20		70,891		—
Australian Dollar		JPHQ		Sell		16,082,875		1,143,008,300	JPY		8/21/20		—		(686,156	)
Australian Dollar		CITI		Sell		10,967,160		778,434,201	JPY		8/24/20		—		(476,495	)
Australian Dollar		JPHQ		Sell		10,420,500		742,095,907	JPY		8/24/20		—		(429,774	)
Euro		HSBK		Sell		7,079,963		836,619,426	JPY		8/24/20		—		(256,021	)
Japanese Yen		CITI		Buy		900,237,000		8,710,604			8/31/20		—		(311,372	)
Japanese Yen		CITI		Sell		900,237,000		8,512,960			8/31/20		113,728		—
Norwegian Krone		JPHQ		Buy		57,451,200		6,367,668			9/21/20		177,681		—
Euro		CITI		Sell		566,800		67,784,541	JPY		9/30/20		—		(13,126	)
Euro		GSCO		Buy		2,676,375		3,026,445			10/05/20		27,902		—
Euro		GSCO		Sell		2,676,375		2,994,649			10/05/20		—		(59,697	)
Mexican Peso		CITI		Sell		49,711,000		2,412,359			10/08/20		—		(108,854	)
Mexican Peso		CITI		Sell		37,337,000		1,809,270			10/09/20		—		(84,108	)

franklintempleton.com Annual Report         21

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

Forward Exchange Contracts (continued)

Currency	Counterpartya		Type		Quantity		Contract  Amount*			Settlement Date		Unrealized Appreciation		Unrealized Depreciation
OTC Forward Exchange Contracts (continued)
Euro		HSBK		Sell		13,422,375		15,083,259			10/13/20	$	—	$	(242,402	)
Mexican Peso		CITI		Sell		124,480,000		6,019,866			10/13/20		—		(289,142	)
Mexican Peso		CITI		Sell		183,230,000		8,893,020			10/15/20		—		(391,085	)
Mexican Peso		CITI		Sell		167,775,000		8,217,940			10/16/20		—		(281,917	)
Euro		JPHQ		Sell		33,330		37,859			10/29/20		—		(235	)
Swiss Franc		UBSW		Buy		5,622,151		5,128,951	EUR		11/09/20		74,365		—
Swiss Franc		GSCO		Buy		5,517,599		5,035,224	EUR		11/12/20		71,245		—
Total Forward Exchange Contracts												$	5,595,687	$	(17,566,773	)
Net unrealized appreciation (depreciation)														$	(11,971,086	)

*In U.S. dollars unless otherwise indicated.

^aMay be comprised of multiple contracts with the same counterparty, currency and settlement date.

At December 31, 2019, the Fund had the following interest rate swap contracts outstanding. See Note 1(c).

Interest Rate Swap Contracts

Description	Payment Frequency		Maturity Date		Notional Amount		Value/ Unrealized Appreciation (Depreciation)
Centrally Cleared Swap Contracts
Receive Floating 3-month USD LIBOR		Quarterly
Pay Fixed 2.378%		Semi-Annual		11/18/46	$	56,100,000	$	(3,459,185	)
Receive Floating 3-month USD LIBOR		Quarterly
Pay Fixed 2.537%		Semi-Annual		4/13/47		12,300,000		(1,191,904	)
Receive Floating 3-month USD LIBOR		Quarterly
Pay Fixed 2.980%		Semi-Annual		2/20/48		12,196,000		(2,486,387	)
Receive Floating 3-month USD LIBOR		Quarterly
Pay Fixed 3.002%		Semi-Annual		2/22/48		12,196,000		(2,546,926	)
Receive Floating 3-month USD LIBOR		Quarterly
Pay Fixed 3.019%		Semi-Annual		2/23/48		12,196,000		(2,593,686	)
Total Interest Rate Swap Contracts							$	(12,278,088	)

See Note 9 regarding other derivative information.

See Abbreviations on page 38.

22         Annual Report  |  The accompanying notes are an integral part of these financial statements. franklintempleton.com

TEMPLETON GLOBAL INCOME FUND

FINANCIAL STATEMENTS

Statement of Assets and Liabilities

December 31, 2019

Assets:
Investments in securities:
Cost - Unaffiliated issuers	$	725,762,154
Cost - Non-controlled affiliates (Note 3c)		226,097,663
Value - Unaffiliated issuers	$	656,661,612
Value - Non-controlled affiliates (Note 3c)		226,097,663
Restricted currency, at value (cost $2,637,977)(Note 1d)		2,606,971
Foreign currency, at value (cost $409,933)		410,583
Receivables:
Interest		9,209,721
Deposits with brokers for:
OTC derivative contracts		14,486,000
Centrally cleared swap contracts		13,386,904
Variation margin on centrally cleared swap contracts		1,169,490
Unrealized appreciation on OTC forward exchange contracts		5,595,687
Other assets		964
Total assets		929,625,595
Liabilities:
Payables:
Management fees		422,177
Options written, at value (premiums received $7,391,382)		5,173,583
Unrealized depreciation on OTC forward exchange contracts		17,566,773
Deferred tax		577,904
Accrued expenses and other liabilities		506,899
Total liabilities		24,247,336
Net assets, at value	$	905,378,259
Net assets consist of:
Paid-in capital	$	1,016,016,456
Total distributable earnings (losses)		(110,638,197	)
Net assets, at value	$	905,378,259
Shares outstanding		134,144,158
Net asset value per share		$6.75

franklintempleton.com The accompanying notes are an integral part of these financial statements.  |  Annual Report          23

TEMPLETON GLOBAL INCOME FUND

STATEMENT OF INVESTMENTS

Statement of Operations

for the year ended December 31, 2019

Investment income:
Dividends:
Non-controlled affiliates (Note 3c)	$    4,239,255
Interest: (net of foreign taxes)~
Unaffiliated issuers	53,335,927
Total investment income	57,575,182
Expenses:
Management fees (Note 3a)	5,984,344
Transfer agent fees	173,424
Custodian fees (Note 4)	261,863
Reports to shareholders	70,021
Registration and filing fees	131,458
Professional fees	98,836
Trustees’ fees and expenses	155,071
Other	160,027
Total expenses	7,035,044
Expenses waived/paid by affiliates (Note 3c)	(799,150	)
Net expenses	6,235,894
Net investment income	51,339,288
Realized and unrealized gains (losses):
Net realized gain (loss) from:
Investments:#
Unaffiliated issuers	(7,006,877	)
Written options	(1,619,759	)
Foreign currency transactions	(1,527,481	)
Forward exchange contracts	25,310,781
Swap contracts	(12,871,877	)
Net realized gain (loss)	2,284,787
Net change in unrealized appreciation (depreciation) on:
Investments:
Unaffiliated issuers	(12,082,397	)
Translation of other assets and liabilities denominated in foreign currencies	55,869
Forward exchange contracts	(9,059,149	)
Written options	2,217,799
Swap contracts	(19,554,592	)
Change in deferred taxes on unrealized appreciation	120,918
Net change in unrealized appreciation (depreciation)	(38,301,552	)
Net realized and unrealized gain (loss)	(36,016,765	)
Net increase (decrease) in net assets resulting from operations	$15,322,523

~Foreign taxes withheld on interest	$	1,367,613
#Net of foreign taxes	$	98,979

24         Annual Report  |  The accompanying notes are an integral part of these financial statements. franklintempleton.com

TEMPLETON GLOBAL INCOME FUND

FINANCIAL STATEMENTS

Statements of Changes in Net Assets

	Year Ended December 31,
	2019			2018
Increase (decrease) in net assets:
Operations:
Net investment income	$	51,339,288		$	49,777,751
Net realized gain (loss)		2,284,787			4,033,496
Net change in unrealized appreciation (depreciation)		(38,301,552	)		(34,650,969	)
Net increase (decrease) in net assets resulting from operations		15,322,523			19,160,278
Distributions to shareholders		(54,932,033	)		(34,604,129	)
Distributions to shareholders from tax return of capital		—			(12,359,741	)
Total distributions to shareholders		(54,932,033	)		(46,963,870	)
Net increase (decrease) in net assets		(39,609,510	)		(27,803,592	)
Net assets:
Beginning of year		944,987,769			972,791,361
End of year	$	905,378,259		$	944,987,769

franklintempleton.com The accompanying notes are an integral part of these financial statements.  |  Annual Report          25

TEMPLETON GLOBAL INCOME FUND

Notes to Financial Statements

1.  Organization and Significant Accounting Policies

Templeton Global Income Fund (Fund) is registered under the Investment Company Act of 1940 (1940 Act) as a closed-end management investment company and applies the specialized accounting and reporting guidance in U.S. Generally Accepted Accounting Principles (U.S. GAAP).

The following summarizes the Fund’s significant accounting policies.

a.  Financial Instrument Valuation

The Fund’s investments in financial instruments are carried at fair value daily. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Fund calculates the net asset value (NAV) per share each business day as of 4 p.m. Eastern time or the regularly scheduled close of the New York Stock Exchange (NYSE), whichever is earlier. Under compliance policies and procedures approved by the Fund’s Board of Trustees (the Board), the Fund’s administrator has responsibility for oversight of valuation, including leading the cross-functional Valuation Committee (VC). The Fund may utilize independent pricing services, quotations from securities and financial instrument dealers, and other market sources to determine fair value.

Debt securities generally trade in the over-the-counter (OTC) market rather than on a securities exchange. The Fund’s pricing services use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the pricing services also utilize proprietary valuation models which may consider market characteristics such as benchmark yield curves, credit spreads, estimated default rates, anticipated market interest rate volatility, coupon rates, anticipated timing of principal repayments, underlying collateral, and other unique security features in order to estimate the relevant cash flows, which are then discounted to calculate the fair value. Securities denominated in a foreign currency are converted into their U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. Eastern time on the date that the values of the foreign debt securities are determined.

Investments in open-end mutual funds are valued at the closing NAV.

Certain derivative financial instruments are centrally cleared or trade in the OTC market. The Fund’s pricing services use various techniques including industry standard option pricing models and proprietary discounted cash flow models to determine the fair value of those instruments. The Fund’s net benefit or obligation under the derivative contract, as measured by the fair value of the contract, is included in net assets.

The Fund has procedures to determine the fair value of financial instruments for which market prices are not reliable or readily available. Under these procedures, the Fund primarily employs a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values, and other relevant information for the investment to determine the fair value of the investment. An income-based valuation approach may also be used in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed.

b.  Foreign Currency Translation

Portfolio securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based on the exchange rate of such currencies against U.S. dollars on the date of valuation. The Fund may enter into foreign currency exchange contracts to facilitate transactions denominated in a foreign currency. Purchases and sales of securities, income and expense items denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date. Portfolio securities and assets and liabilities denominated in foreign currencies contain risks that those currencies will decline in value relative to the U.S. dollar. Occasionally, events may impact the availability or reliability of foreign exchange rates used to convert the U.S. dollar equivalent value. If such an event occurs, the foreign exchange rate will be valued at fair value using procedures established and approved by the Board.

26         Annual Report franklintempleton.com

TEMPLETON GLOBAL INCOME FUND

NOTES TO FINANCIAL STATEMENTS

The Fund does not separately report the effect of changes in foreign exchange rates from changes in market prices on securities held. Such changes are included in net realized and unrealized gain or loss from investments in the Statement of Operations.

Realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions and the difference between the recorded amounts of dividends, interest, and foreign withholding taxes and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in foreign exchange rates on foreign denominated assets and liabilities other than investments in securities held at the end of the reporting period.

c.  Derivative Financial Instruments

The Fund invested in derivative financial instruments in order to manage risk or gain exposure to various other investments or markets. Derivatives are financial contracts based on an underlying or notional amount, require no initial investment or an initial net investment that is smaller than would normally be required to have a similar response to changes in market factors, and require or permit net settlement. Derivatives contain various risks including the potential inability of the counterparty to fulfill their obligations under the terms of the contract, the potential for an illiquid secondary market, and/or the potential for market movements which expose the Fund to gains or losses in excess of the amounts shown in the Statement of Assets and Liabilities. Realized gain and loss and unrealized appreciation and depreciation on these contracts for the period are included in the Statement of Operations.

Derivative counterparty credit risk is managed through a formal evaluation of the creditworthiness of all potential counterparties. The Fund attempts to reduce its exposure to counterparty credit risk on OTC derivatives, whenever possible, by entering into International Swaps and Derivatives Association (ISDA) master agreements with certain counterparties. These agreements contain various provisions, including but not limited to collateral requirements, events of default, or early termination. Termination events applicable to the counterparty include certain deteriorations in the credit quality of the counterparty. Termination events applicable to the Fund include failure of the Fund to maintain certain net asset levels and/or limit the decline in net assets over various

periods of time. In the event of default or early termination, the ISDA master agreement gives the non-defaulting party the right to net and close-out all transactions traded, whether or not arising under the ISDA agreement, to one net amount payable by one counterparty to the other. However, absent an event of default or early termination, OTC derivative assets and liabilities are presented gross and not offset in the Statement of Assets and Liabilities. Early termination by the counterparty may result in an immediate payment by the Fund of any net liability owed to that counterparty under the ISDA agreement.

Collateral requirements differ by type of derivative. Collateral or initial margin requirements are set by the broker or exchange clearing house for exchange traded and centrally cleared derivatives. Initial margin deposited is held at the exchange and can be in the form of cash and/or securities. For OTC derivatives traded under an ISDA master agreement, posting of collateral is required by either the Fund or the applicable counterparty if the total net exposure of all OTC derivatives with the applicable counterparty exceeds the minimum transfer amount, which typically ranges from $100,000 to $250,000, and can vary depending on the counterparty and the type of the agreement. Generally, collateral is determined at the close of Fund business each day and any additional collateral required due to changes in derivative values may be delivered by the Fund or the counterparty the next business day, or within a few business days. Collateral pledged and/or received by the Fund for OTC derivatives, if any, is held in segregated accounts with the Fund’s custodian/counterparty broker and can be in the form of cash and/or securities. Unrestricted cash may be invested according to the Fund’s investment objectives. To the extent that the amounts due to the Fund from its counterparties are not subject to collateralization or are not fully collateralized, the Fund bears the risk of loss from counterparty non-performance.

The Fund entered into OTC forward exchange contracts primarily to manage and/or gain exposure to certain foreign currencies. A forward exchange contract is an agreement between the Fund and a counterparty to buy or sell a foreign currency at a specific exchange rate on a future date.

The Fund entered into interest rate swap contracts primarily to manage interest rate risk. An interest rate swap is an agreement between the Fund and a counterparty to exchange cash flows based on the difference between two interest rates, applied to a notional amount. These

franklintempleton.com Annual Report         27

TEMPLETON GLOBAL INCOME FUND

NOTES TO FINANCIAL STATEMENTS

1.  Organization and Significant Accounting

Policies (continued)

c.  Derivative Financial Instruments (continued)

agreements may be privately negotiated in the over-the-counter market (OTC interest rate swaps) or may be executed on a registered exchange (centrally cleared interest rate swaps). For centrally cleared interest rate swaps, required initial margins are pledged by the Fund, and the daily change in fair value is accounted for as a variation margin payable or receivable in the Statement of Assets and Liabilities. Over the term of the contract, contractually required payments to be paid and to be received are accrued daily and recorded as unrealized depreciation and appreciation until the payments are made, at which time they are realized.

The Fund purchased or wrote OTC option contracts primarily to manage and/or gain exposure to foreign exchange rate risk. An option is a contract entitling the holder to purchase or sell a specific amount of shares or units of an asset or notional amount of a swap (swaption), at a specified price. When an option is purchased or written, an amount equal to the premium paid or received is recorded as an asset or liability, respectively. Upon exercise of an option, the acquisition cost or sales proceeds of the underlying investment is adjusted by any premium received or paid. Upon expiration of an option, any premium received or paid is recorded as a realized gain or loss. Upon closing an option other than through expiration or exercise, the difference between the premium received or paid and the cost to close the position is recorded as a realized gain or loss.

The Fund invests in value recovery instruments (VRI) primarily to gain exposure to economic growth. Periodic payments from VRI are dependent on established benchmarks for underlying variables. VRI has a notional amount, which is used to calculate amounts of payments to holders. Payments are recorded upon receipt as realized gains in the Statement of Operations. The risks of investing in VRI include growth risk, liquidity, and the potential loss of investment.

See Note 9 regarding other derivative information.

d.  Restricted Currency

At December 31, 2019, the Fund held currencies in certain markets in which the ability to repatriate such currency is limited. As a result of such limitations on repatriation, the

Fund may incur substantial delays in gaining access to these assets and may be exposed to potential adverse movements in currency value.

e.  Income and Deferred Taxes

It is the Fund’s policy to qualify as a regulated investment company under the Internal Revenue Code. The Fund intends to distribute to shareholders substantially all of its taxable income and net realized gains to relieve it from federal income and excise taxes. As a result, no provision for U.S. federal income taxes is required.

The Fund may be subject to foreign taxation related to income received, capital gains on the sale of securities and certain foreign currency transactions in the foreign jurisdictions in which it invests. Foreign taxes, if any, are recorded based on the tax regulations and rates that exist in the foreign markets in which the Fund invests. When a capital gain tax is determined to apply, the Fund records an estimated deferred tax liability in an amount that would be payable if the securities were disposed of on the valuation date.

The Fund may recognize an income tax liability related to its uncertain tax positions under U.S. GAAP when the uncertain tax position has a less than 50% probability that it will be sustained upon examination by the tax authorities based on its technical merits. As of December 31, 2019, the Fund has determined that no tax liability is required in its financial statements related to uncertain tax positions for any open tax years (or expected to be taken in future tax years). Open tax years are those that remain subject to examination and are based on the statute of limitations in each jurisdiction in which the Fund invests.

f.  Security Transactions, Investment Income, Expenses and Distributions

Security transactions are accounted for on trade date. Realized gains and losses on security transactions are determined on a specific identification basis. Interest income and estimated expenses are accrued daily. Amortization of premium and accretion of discount on debt securities are included in interest income. Dividend income is recorded on the ex-dividend date. Distributions to shareholders are recorded on the ex-dividend date. Distributable earnings are determined according to income tax regulations (tax basis) and may differ from earnings recorded in accordance with U.S. GAAP. These differences may be permanent or

28         Annual Report franklintempleton.com

TEMPLETON GLOBAL INCOME FUND

NOTES TO FINANCIAL STATEMENTS

temporary. Permanent differences are reclassified among capital accounts to reflect their tax character. These reclassifications have no impact on net assets or the results of operations. Temporary differences are not reclassified, as they may reverse in subsequent periods.

Inflation-indexed bonds are adjusted for inflation through periodic increases or decreases in the security’s interest accruals, face amount, or principal redemption value, by amounts corresponding to the rate of inflation as measured by an index. Any increase or decrease in the face amount or principal redemption value will be included as interest income in the Statement of Operations.

g.  Accounting Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and

liabilities at the date of the financial statements and the amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

h.  Guarantees and Indemnifications

Under the Fund’s organizational documents, its officers and trustees are indemnified by the Fund against certain liabilities arising out of the performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts with service providers that contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred. Currently, the Fund expects the risk of loss to be remote.

2.  Shares of Beneficial Interest

At December 31, 2019, there were an unlimited number of shares authorized (without par value). During the years ended December 31, 2019 and December 31, 2018 there were no shares issued; all reinvested distributions were satisfied with previously issued shares purchased in the open market.

Under the Board approved open-market share repurchase program, the Fund may purchase, from time to time, Fund shares in open-market transactions, at the discretion of management. Since the inception of the program, the Fund has repurchased a total of 11,210,400 shares. During the years ended December 31, 2019 and December 31, 2018, there were no shares repurchased.

3.  Transactions with Affiliates

Franklin Resources, Inc. is the holding company for various subsidiaries that together are referred to as Franklin Templeton. Certain officers and trustees of the Fund are also officers and/or directors of the following subsidiaries:

Subsidiary	Affiliation
Franklin Advisers, Inc. (Advisers)	Investment manager
Franklin Templeton Services, LLC (FT Services)	Administrative manager

franklintempleton.com Annual Report         29

TEMPLETON GLOBAL INCOME FUND

NOTES TO FINANCIAL STATEMENTS

3.   Transactions with Affiliates (continued)

a.  Management Fees

The Fund pays an investment management fee to Advisers based on the average daily net assets of the Fund as follows:

Annualized Fee Rate	Net Assets
0.700%	Up to and including $200 million
0.635%	Over $200 million, up to and including $700 million
0.600%	Over $700 million, up to and including $1 billion
0.580%	Over $1 billion, up to and including $5 billion
0.560%	Over $5 billion, up to and including $10 billion
0.540%	Over $10 billion, up to and including $15 billion
0.520%	Over $15 billion, up to and including $20 billion
0.500%	In excess of $20 billion

For the year ended December 31, 2019, the gross effective investment management fee rate was 0.640% of the Fund’s average daily net assets.

b.  Administrative Fees

Under an agreement with Advisers, FT Services provides administrative services to the Fund. The fee is paid by Advisers based on the Fund’s average daily net assets, and is not an additional expense of the Fund.

c.  Investments in Affiliated Management Investment Companies

The Fund invests in one or more affiliated management investment companies for purposes other than exercising a controlling influence over the management or policies. Management fees paid by the Fund are waived on assets invested in the affiliated management investment companies, as noted in the Statement of Operations, in an amount not to exceed the management and administrative fees paid directly or indirectly by each affiliate. During the year ended December 31, 2019, the Fund held investments in affiliated management investment companies as follows:

	Value at Beginning of Year		Purchases		Sales	Realized     Gain (Loss)		Net Change in Unrealized Appreciation (Depreciation)		Value at   End of   Year		Number of Shares Held at End of Year		Dividend Income
Non-Controlled Affiliates
Institutional Fiduciary Trust Money Market Portfolio, 1.26%		$236,712,686		$173,908,302	$(184,523,325)		$    —		$    —		$226,097,663		226,097,663		$4,239,255

4.   Expense Offset Arrangement

The Fund has entered into an arrangement with its custodian whereby credits realized as a result of uninvested cash balances are used to reduce a portion of the Fund’s custodian expenses. During the year ended December 31, 2019, there were no credits earned.

5.   Income Taxes

For tax purposes, capital losses may be carried over to offset future capital gains.

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TEMPLETON GLOBAL INCOME FUND

NOTES TO FINANCIAL STATEMENTS

At December 31, 2019, the capital loss carryforwards were as follows:

Capital loss carryforwards not subject to expiration:
Short term	$	4,562,438
Long term		10,658,281
Total capital loss carryforwards	$	15,220,719

For tax purposes, the Fund may elect to defer any portion of a post-October capital loss or late-year ordinary loss to the first day of the following fiscal year. At December 31, 2019, the Fund deferred late-year ordinary losses of $4,604,546.

The tax character of distributions paid during the years ended December 31, 2019 and 2018, was as follows:

	2019		2018
Distributions paid from:
Ordinary income	$	54,932,033	$	34,604,129
Return of capital		—		12,359,741
	$	54,932,033	$	46,963,870

At December 31, 2019, the cost of investments, net unrealized appreciation (depreciation) for income tax purposes were as follows:

Cost of investments	$	943,616,207
Unrealized appreciation	$	48,584,382
Unrealized depreciation		(138,506,980)
Net unrealized appreciation (depreciation)	$	(89,922,598)

Differences between income and/or capital gains as determined on a book basis and a tax basis are primarily due to differing treatments of foreign currency transactions and tax straddles.

6.   Investment Transactions

Purchases and sales of investments (excluding short term securities) for the year ended December 31, 2019, aggregated $207,213,628 and $119,331,116, respectively.

7.   Credit Risk

At December 31, 2019, the Fund had 13.5% of its portfolio invested in high yield securities, or other securities rated below investment grade and unrated securities, if any. These securities may be more sensitive to economic conditions causing greater price volatility and are potentially subject to a greater risk of loss due to default than higher rated securities.

8.   Concentration of Risk

Investments in issuers domiciled or with significant operations in developing or emerging market countries may be subject to higher risks than investments in developed countries. These risks include fluctuating currency values, underdeveloped legal or business systems, and changing local and regional economic, political and social conditions, which may result in greater

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NOTES TO FINANCIAL STATEMENTS

8.   Concentration of Risk (continued)

market volatility. In addition, certain foreign securities may not be as liquid as U.S. securities. Currencies of developing or emerging market countries may be subject to significantly greater risks than currencies of developed countries, including the potential inability to repatriate those currencies into U.S. dollars.

At December 31, 2019, the Fund had 1.7% of its net assets denominated in Argentine Pesos, which has restricted currency repatriation since September 2019, and had restructured certain issues of its debt. Political and economic conditions in Argentina could continue to affect the value of the Fund’s holdings.

9.   Other Derivative Information

At December 31, 2019, investments in derivative contracts are reflected in the Statement of Assets and Liabilities as follows:

	Asset Derivatives				Liability Derivatives
Derivative Contracts Not Accounted for as Hedging Instruments	Statement of Assets and Liabilities Location	Fair Value			Statement of Assets and Liabilities Location	Fair Value
Interest rate contracts	Variation margin on centrally cleared swap contracts		$            —		Variation margin on centrally cleared swap contracts	$12,278,088a
Foreign exchange contracts	Investments in securities, at value		3,040,202	b	Options written, at value	5,173,583
	Unrealized appreciation on OTC forward exchange contracts		5,595,687		Unrealized depreciation on OTC forward exchange contracts	17,566,773
Totals			$8,635,889			$35,018,444

^aThis amount reflects the cumulative appreciation (depreciation) of centrally cleared swap contracts as reported in the Statement of Investments. Only the variation margin receivable/payable at year end is separately reported within the Statement of Assets and Liabilities. Prior variation margin movements were recorded to cash upon receipt or payment.

^bPurchased option contracts are included in investments in securities, at value in the Statement of Assets and Liabilities.

For the year ended December 31, 2019, the effect of derivative contracts in the Statement of Operations was as follows:

Derivative Contracts Not Accounted for as Hedging Instruments	Statement of Operations Location	Net Realized Gain (Loss) for the Year			Statement of Operations Location	Net Change in Unrealized Appreciation (Depreciation) for the Year
	Net realized gain (loss) from:				Net change in unrealized appreciation (depreciation) on:
Interest rate contracts	Swap contracts		$(12,871,877	)	Swap contracts		$(19,554,592	)
Foreign exchange contracts	Investments		1,875,271	a	Investments		(7,418,984	)a
	Written options		(1,619,759	)	Written options		2,217,799
	Forward exchange contracts		25,310,781		Forward exchange contracts		(9,059,149	)
Value recovery instruments	Investments		1,541,568	a	Investments		(1,271,357	)a
Totals			$ 14,235,984				$(35,086,283	)

^aPurchased option contracts and VRI are included in net realized gain (loss) from investments and net change in unrealized appreciation (depreciation) on investments in the Statement of Operations.

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NOTES TO FINANCIAL STATEMENTS

For the year ended December 31, 2019, the average month end notional amount of options and swap contracts, the average month end contract value for forward exchange contracts, and average month end fair value of VRI, were as follows:

Options	$	512,223,575
Swap contracts	$	185,769,231
Forward exchange contracts	$	1,031,769,738
VRI	$	1,438,961

At December 31, 2019, OTC derivative assets and liabilities are as follows:

	Gross Amounts of Assets and Liabilities Presented in the Statement of Assets and Liabilities
	Assetsa		Liabilitiesa
Derivatives
Forward exchange contracts		$5,595,687		$17,566,773
Options purchased		3,040,202		—
Options written		—		5,173,583
Total		$8,635,889		$22,740,356

^aAbsent an event of default or early termination, OTC derivative assets and liabilities are presented gross and not offset in the Statement of Assets and Liabilities.

At December 31, 2019, OTC derivative assets, which may be offset against OTC derivative liabilities and collateral received from the counterparty, are as follows:

			Amounts Not Offset in the     Statement of Assets and Liabilities
	Gross Amounts of Assets Presented in the Statement of Assets and Liabilities		Financial Instruments Available for Offset			Financial Instruments Collateral Receiveda,b			Cash Collateral     Received		Net Amount (Not less than zero)
Counterparty
BNDP		$              —		$              —			$        —			$    —		$        —
BZWS		56,910		(56,910	)		—			—		—
CITI		2,771,616		(2,771,616	)		—			—		—
DBAB		1,243,676		(1,038,313	)		(205,363	)		—		—
GSCO		393,322		(273,513	)		—			—		119,809
HSBK		597,450		(597,450	)		—			—		—
JPHQ		2,427,940		(2,427,940	)		—			—		—
MSCO		547,146		(547,146	)		—			—		—
SCNY		179,899		(179,899	)		—			—		—
UBSW		417,930		(222,149	)		—			—		195,781
Total		$8,635,889		$(8,114,936	)		$(205,363	)		$    —		$315,590

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NOTES TO FINANCIAL STATEMENTS

9. Other Derivative Information (continued)

At December 31, 2019, OTC derivative liabilities, which may be offset against OTC derivative assets and collateral pledged to the counterparty, are as follows:

			Amounts Not Offset in the         Statement of Assets and  Liabilities
	Gross Amounts of Liabilities Presented in the Statement of Assets and Liabilities		Financial Instruments Available for Offset			Financial Instruments Collateral Pledged		Cash Collateral Pledgedb			Net Amount (Not less than zero)
Counterparty
BNDP		$     499,167		$              —			$    —		$    (499,167	)		$         —
BZWS		110,145		(56,910	)		—		—			53,235
CITI		9,989,447		(2,771,616	)		—		(7,217,831	)		—
DBAB		1,038,313		(1,038,313	)		—		—			—
GSCO		273,513		(273,513	)		—		—			—
HSBK		3,075,722		(597,450	)		—		(2,400,000	)		78,272
JPHQ		6,720,538		(2,427,940	)		—		(4,184,000	)		108,598
MSCO		592,438		(547,146	)		—		—			45,292
SCNY		218,924		(179,899	)		—		—			39,025
UBSW		222,149		(222,149	)		—		—			—
Total		$22,740,356		$(8,114,936	)		$    —		$(14,300,998	)		$324,422

^aAt December 31, 2019, the Fund received U.S. Treasury Bonds, Notes and Bills as collateral for derivatives.

^bIn some instances, the collateral amounts disclosed in the table above were adjusted due to the requirement to limit collateral amounts to avoid the effect of overcollateralization. Actual collateral received and/or pledged may be more than the amounts disclosed herein.

See Note 1(c) regarding derivative financial instruments.

See Abbreviations on page 38.

10.   Fair Value Measurements

The Fund follows a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Fund’s own market assumptions (unobservable inputs). These inputs are used in determining the value of the Fund’s financial instruments and are summarized in the following fair value hierarchy:

• Level 1 – quoted prices in active markets for identical financial instruments

• Level 2 – other significant observable inputs (including quoted prices for similar financial instruments, interest rates, prepayment speed, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of financial instruments)

The input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level.

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NOTES TO FINANCIAL STATEMENTS

A summary of inputs used as of December 31, 2019, in valuing the Fund’s assets and liabilities carried at fair value, is as follows:

	Level 1		Level 2		Level 3		Total
Assets:
Investments in Securities:a
Foreign Government and Agency Securities:
Argentina	$	—	$	1,429,090	$	11,284,002	$	12,713,092
All Other Foreign Government and Agency Securities		—		492,683,575		—		492,683,575
U.S. Government and Agency Securities		—		94,197,355		—		94,197,355
Options Purchased		—		3,040,202		—		3,040,202
Short Term Investments:
Argentina		—		—		1,095,225		1,095,225
All Other Short Term Investments		226,097,663		52,932,163		—		279,029,826
Total Investments in Securities	$	226,097,663	$	644,282,385	$	12,379,227	$	882,759,275
Other Financial Instruments:
Forward Exchange Contracts	$	—	$	5,595,687	$	—	$	5,595,687
Restricted Currency (ARS)		—		—		2,606,971		2,606,971
Total Other Financial Instruments	$	—	$	5,595,687	$	2,606,971	$	8,202,658
Receivables:
Interest (ARS)	$	—	$	—	$	526,601	$	526,601
Liabilities:
Other Financial Instruments:
Options Written	$	—	$	5,173,583	$	—	$	5,173,583
Forward Exchange Contracts		—		17,566,773		—		17,566,773
Swap Contracts		—		12,278,088		—		12,278,088
Total Other Financial Instruments	$	—	$	35,018,444	$	—	$	35,018,444
Payables:
Deferred Tax (ARS)	$	—	$	—	$	1,491	$	1,491

^aFor detailed categories, see the accompanying Statement of Investments.

A reconciliation of assets and/or liabilities in which Level 3 inputs are used in determining fair value is presented when there are significant Level 3 assets and/or liabilities at the beginning and/or end of the year. At December 31, 2019, the reconciliation of assets and/or liabilities, is as follows:

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NOTES TO FINANCIAL STATEMENTS

10. Fair Value Measurements (continued)

	Balance at Beginning of Year		Purchases		Sales			Transfer Into Level 3a		Transfer Out of Level 3		Cost Basis Adjustmentsb		Net Realized Gain (Loss)			Net Unrealized Appreciation (Depreciation)			Balance at End of Year		Net Change in Unrealized Appreciation (Depreciation) on Assets Held at Year End
Assets:
Investments in Securities:
Foreign Government and Agency Securities:
Argentina		$—	$	541,525	$	—		$	10,113,574		$—		$1,869,793	$	—		$	(1,240,890	)	$	11,284,002		$665,889
Short Term Investments:
Argentina		—		862,422		(77,360	)		19,064		—		191,203		(112,601	)		212,497			1,095,225		125,640
Total Investments in Securities		$—	$	1,403,947	$	(77,360	)	$	10,132,638		$—		$2,060,996	$	(112,601	)	$	(1,028,393	)	$	12,379,227		$791,529
Other Financial Instruments:
Restricted Currency (ARS)		$—	$	3,689,173	$	(1,427,481	)	$	615,098		$—		$            —	$	(393,755	)	$	123,936		$	2,606,971		$ (31,006	)
Receivables:
Interest (ARS)		$—	$	793,683	$	(1,289,891	)	$	1,071,118		$—		$            —	$	(587,458	)	$	539,149		$	526,601		$    1,312
Liabilities:
Payables:
Deferred Tax (ARS)		$—	$	—	$	—		$	1,994		$—		$            —	$	—		$	(503	)	$	1,491		$      (503	)

^aTransferred into Level 3 as a result of the unavailability of a quoted market price in an active market for identical or as a result of the unreliability of the foreign exchange rate securities and other significant observable valuation inputs.

^bMay include accretion, amortization, partnership adjustments, and/or other cost basis adjustments.

Significant unobservable valuation inputs for material Level 3 assets and/or liabilities and impact to fair value as a result of changes in unobservable valuation inputs as of December 31, 2019, are as follows:

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NOTES TO FINANCIAL STATEMENTS

Description	Fair Value at End of Year		Valuation Technique		Unobservable Input		Amount		Impact to Fair Value if Input Increasesa
Assets:
Foreign Government and Agency Securities
Argentina	$	11,284,002		Market Comparables		Implied Foreign		75.1 ARS/USD		Decrease	b
						exchange rate
Short Term Investments
Argentina		1,095,225		Market Comparables		Implied Foreign		75.1 ARS/USD		Decrease	b
						exchange rate
Other Financial Instruments:
Restricted Currency (ARS)		2,606,971		Market Comparables		Implied Foreign		75.1 ARS/USD		Decrease	b
						exchange rate
All otherc		526,601
Liabilities:
All otherc		1,491

^aRepresents the directional change in the fair value that would result from a significant and reasonable increase in the corresponding input. A significant and reasonable decrease in the input would have the opposite effect. Significant impacts, if any, to fair value and/or net assets have been indicated.

^bRepresents a significant impact to fair value but not net assets.

^cIncludes fair value of immaterial assets and/or liabilities developed using various valuation techniques and unobservable inputs. May also include values derived using private transaction prices or non-public third party pricing information which is unobservable.

11.  Subsequent Events

The Fund has evaluated subsequent events through the issuance of the financial statements and determined that no events have occurred that require disclosure.

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TEMPLETON GLOBAL INCOME FUND

NOTES TO FINANCIAL STATEMENTS

Abbreviations

Counterparty		Currency		Selected Portfolio
BNDP	BNP Paribas	ARS	Argentine Peso	ARPP7DRR	Argentina Central Bank 7 Day Repo Rate
BZWS	Barclays Bank PLC	AUD	Australian Dollar	BADLAR	Argentina Deposit Rates Badlar Private
CITI	Citigroup, Inc.	BRL	Brazilian Real	FRN	Floating Rate Note
DBAB	Deutsche Bank AG	COP	Colombian Peso	LIBOR	London InterBank Offered Rate
GSCO	The Goldman Sachs Group, Inc.	EUR	Euro
HSBK	HSBC Bank PLC	GHS	Ghanaian Cedi
JPHQ	JP Morgan Chase & Co.	IDR	Indonesian Rupiah
MSCO	Morgan Stanley	INR	Indian Rupee
SCNY	Standard Chartered Bank	JPY	Japanese Yen
UBSW	UBS AG	KRW	South Korean Won
		MXN	Mexican Peso
		NOK	Norwegian krone
		USD	United States Dollar

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TEMPLETON GLOBAL INCOME FUND

Report of Independent Registered Public Accounting Firm

To the Board of Trustees and Shareholders of Templeton Global Income Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the statement of investments, of Templeton Global Income Fund (the “Fund”) as of December 31, 2019, the related statement of operations for the year ended December 31, 2019, the statement of changes in net assets for each of the two years in the period ended December 31, 2019, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of December 31, 2019, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended December 31, 2019 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of December 31, 2019 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

PricewaterhouseCoopers LLP

San Francisco, California

February 20, 2020

We have served as the auditor of one or more investment companies in the Franklin Templeton Group of Funds since 1948.

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TEMPLETON GLOBAL INCOME FUND

Tax Information (unaudited)

At December 31, 2019, more than 50% of the Fund’s total assets were invested in securities of foreign issuers. In most instances, foreign taxes were withheld from income paid to the Fund on these investments. The Fund elects to treat foreign taxes paid as allowed under Section 853 of the Internal Revenue Code. This election will allow shareholders of record as of the first distribution in 2020, to treat their proportionate share of foreign taxes paid by the Fund as having been paid directly by them. The shareholder shall consider these amounts as foreign taxes paid in the tax year in which they receive the Fund distribution.

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TEMPLETON GLOBAL INCOME FUND

Annual Meeting of Shareholders

The Annual Meeting of Shareholders of Templeton Global Income Fund (the “Fund”) was held at the Fund’s offices, 300 S.E. 2nd Street, Fort Lauderdale, Florida, on May 30, 2019. The purpose of the meeting was to elect four Trustees of the Fund and to ratify the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Fund for the fiscal year ending December 31, 2019. At the meeting, the following persons were elected by the shareholders to serve as Trustees of the Fund: Mary C. Choksi, Larry D. Thompson, Rupert H. Johnson, Jr. and Gregory E. Johnson.* Shareholders also ratified the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Fund for the fiscal year ending December 31, 2019. No other business was transacted at the meeting with respect to the Fund.

The results of the voting at the Annual Meeting are as follows:

1. Election of four Trustees:

Term Expiring 2022	For		% of Outstanding Shares		% of Shares Present and Voting		Withheld		% of Outstanding Shares		% of Shares Present and Voting
Mary C. Choksi		119,332,134		88.96%		98.03%		2,401,989		1.79%		1.97%
Larry D. Thompson		119,091,491		88.78%		97.83%		2,642,632		1.97%		2.17%
Rupert H. Johnson, Jr.		118,706,852		88.49%		97.51%		3,027,271		2.26%		2.49%
Gregory E. Johnson		119,052,450		88.75%		97.80%		2,681,673		2.00%		2.20%

There were no broker non-votes received with respect to this item.

2. Ratification of the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Fund for the fiscal year ending December 31, 2019:

	Shares Voted		% of Outstanding Shares		% of Shares Present and Voting
For		118,242,688		88.15%		97.13%
Against		2,554,501		1.90%		2.10%
Abstain		936,922		0.70%		0.77%

*Harris J. Ashton, Ann Torre Bates, Edith E. Holiday, J. Michael Luttig, David W. Niemiec, Constantine D. Tseretopoulos and Robert E. Wade are Trustees of the Fund who are currently serving and whose terms of office continued after the Annual Meeting of Shareholders.

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TEMPLETON GLOBAL INCOME FUND

Dividend Reinvestment and Cash Purchase Plan

The Fund offers a Dividend Reinvestment and Cash Purchase Plan (the “Plan”) with the following features:

Shareholders must affirmatively elect to participate in the Plan. If you decide to use this service, dividends and capital gains distributions will be reinvested automatically in shares of the Fund for your account.

Whenever the Fund declares dividends in either cash or shares of the Fund, if the market price is equal to or exceeds net asset value at the valuation date, the participant will receive the dividends entirely in new shares at a price equal to the net asset value, but not less than 95% of the then current market price of the Fund’s shares. If the market price is lower than net asset value or if dividends and/or capital gains distributions are payable only in cash, the participant will receive shares purchased on the New York Stock Exchange or otherwise on the open market.

A participant has the option of submitting additional cash payments to the Plan Administrator, in any amounts of at least $100, up to a maximum of $5,000 per month, for the purchase of Fund shares for his or her account. These payments can be made by check payable to American Stock Transfer and Trust Company LLC (the “Plan Administrator”) and sent to American Stock Transfer and Trust Company LLC, P.O. Box 922, Wall Street Station, New York, NY 10269-0560, Attention: Templeton Global Income Fund. The Plan Administrator will apply such payments (less a $5.00 service charge and less a pro rata share of trading fees) to purchases of Fund shares on the open market.

The automatic reinvestment of dividends and/or capital gains does not relieve the participant of any income tax that may be payable on dividends or distributions.

Whenever shares are purchased on the New York Stock Exchange or otherwise on the open market, each participant will pay a pro rata portion of trading fees. Trading fees will be deducted from amounts to be invested. The Plan Administrator’s fee for a sale of shares through the Plan is $15.00 per transaction plus a $0.12 per share trading fee.

A participant may withdraw from the Plan without penalty at any time by written notice to the Plan Administrator sent to American Stock Transfer and Trust Company LLC, P.O. Box 922, Wall Street Station, New York, NY 10269-0560. Upon withdrawal, the participant will receive, without charge, share certificates issued in the participant’s name for all full shares held by the Plan Administrator; or, if the participant wishes, the Plan Administrator will sell the participant’s shares and send the proceeds to the participant, less a service charge of $15.00 and less trading fees of $0.12 per share. The Plan Administrator will convert any fractional shares held at the time of withdrawal to cash at current market price and send a check to the participant for the net proceeds.

For more information, please see the Plan’s Terms and Conditions located at the back of this report.

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TEMPLETON GLOBAL INCOME FUND

DIVIDEND REINVESTMENT AND CASH PURCHASE PLAN

Transfer Agent

American Stock Transfer and Trust Company LLC

P.O. Box 922, Wall Street Station

New York, NY 10269-0560

(800) 416-5585

www.astfinancial.com

Direct Deposit Service for Registered Shareholders

Cash distributions can now be electronically credited to a checking or savings account at any financial institution that participates in the Automated Clearing House (“ACH”) system. The Direct Deposit service is provided for registered shareholders at no charge. To enroll in the service, access your account online by going www.amstock.com or dial (800) 416-5585 (toll free) and follow the instructions. Direct Deposit will begin with the next scheduled distribution payment date following enrollment in the service.

Direct Registration

If you are a registered shareholder of the Fund, purchases of shares of the Fund can be electronically credited to your Fund account at American Stock Transfer and Trust Company LLC through Direct Registration. This service provides shareholders with a convenient way to keep track of shares through book-entry transactions, electronically move book-entry shares between broker-dealers, transfer agents and DRS eligible issuers, and eliminate the possibility of lost certificates. For additional information, please contact American Stock Transfer and Trust Company LLC at (800) 416-5585.

Shareholder Information

Shares of Templeton Global Income Fund are traded on the New York Stock Exchange under the symbol “GIM.” Information about the net asset value and the market price is published each Monday in the Wall Street Journal, weekly in Barron’s and each Saturday in The New York Times and other newspapers. Daily market prices for the Fund’s shares are published in the “New York Stock Exchange Composite Transactions” section of newspapers.

For current information about distributions and shareholder accounts, call (800) 416-5585. Registered shareholders can access their Fund account on-line. For information go to American Stock Transfer and Trust Company LLC’s web site at www.amstock.com and follow the instructions.

The daily closing net asset value as of the previous business day may be obtained when available by calling Franklin Templeton Fund Information after 7 a.m. Pacific time any business day at (800) DIAL BEN/342-5236. The Fund’s net asset value and dividends are also listed on the NASDAQ Stock Market, Inc.’s Mutual Fund Quotation Service (“NASDAQ MFQS”).

Shareholders not receiving copies of reports to shareholders because their shares are registered in the name of a broker or a custodian can request that they be added to the Fund’s mailing list by writing Templeton Global Income Fund, 100 Fountain Parkway, P.O. Box 33030, St. Petersburg, FL, 33733-8030.

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TEMPLETON GLOBAL INCOME FUND

Board Members and Officers

The name, year of birth and address of the officers and board members, as well as their affiliations, positions held with the Trust, principal occupations during at least the past five years and number of U.S. registered portfolios overseen in the Franklin Templeton fund complex, are shown below. Generally, each board member serves until that person’s successor is elected and qualified.

Independent Board Members

Name, Year of Birth and Address	Position	Length of Time Served	Number of Portfolios in Fund Complex Overseen     by Board Member*	Other Directorships Held During at Least the Past 5 Years
Harris J. Ashton (1932) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Trustee	Since 1992	132	Bar-S Foods (meat packing company) (1981-2010).
Principal Occupation During at Least the Past 5 Years:
Director of various companies; and formerly, Director, RBC Holdings, Inc. (bank holding company) (until 2002); and President, Chief Executive Officer and Chairman of the Board, General Host Corporation (nursery and craft centers) (until 1998).
Ann Torre Bates (1958) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Trustee	Since 2008	33	Ares Capital Corporation (specialty finance company) (2010-present), United Natural Foods, Inc. (distributor of natural, organic and specialty foods) (2013-present), Allied Capital Corporation (financial services) (2003-2010), SLM Corporation (Sallie Mae) (1997-2014) and Navient Corporation (loan management, servicing and asset recovery) (2014-2016).
Principal Occupation During at Least the Past 5 Years:
Director of various companies; and formerly, Executive Vice President and Chief Financial Officer, NHP Incorporated (manager of multifamily housing) (1995-1997); and Vice President and Treasurer, US Airways, Inc. (until 1995).
Mary C. Choksi (1950) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Trustee	Since 2016	132	Avis Budget Group Inc. (car rental) (2007-present), Omnicom group Inc. (advertising and marketing communications services) (2011-present) and White Mountains Insurance Group, Ltd. (holding company) (2017-present).
Principal Occupation During at Least the Past 5 Years:
Director of various companies; and formerly, Founder and Senior Advisor, Strategic Investment Group (investment management group) (2015-2017); Founding Partner and Senior Managing Director, Strategic Investment Group (1987-2015); Founding Partner and Managing Director, Emerging Markets Management LLC (investment management firm) (1987-2011); and Loan Officer/Senior Loan Officer/Senior Pension Investment Officer, World Bank Group (international financial institution) (1977-1987).

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TEMPLETON GLOBAL INCOME FUND

Independent Board Members (continued)

Name, Year of Birth and Address	Position	Length of Time Served	Number of Portfolios in Fund Complex Overseen     by Board Member*	Other Directorships Held During at Least the Past 5 Years
Edith E. Holiday (1952) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Lead Independent Trustee	Trustee since 1996 and Lead Independent Trustee since 2007	132	Hess Corporation (exploration of oil and gas) (1993-present), Canadian National Railway (railroad) (2001-present), White Mountains Insurance Group, Ltd. (holding company) (2004-present), Santander Consumer USA Holdings, Inc. (consumer finance) (2016-present), RTI International Metals, Inc. (manufacture and distribution of titanium) (1999-2015) and H.J. Heinz Company (processed foods and allied products) (1994-2013).
Principal Occupation During at Least the Past 5 Years:
Director or Trustee of various companies and trusts; and formerly, Assistant to the President of the United States and Secretary of the Cabinet (1990-1993); General Counsel to the United States Treasury Department (1989-1990); and Counselor to the Secretary and Assistant Secretary for Public Affairs and Public Liaison - United States Treasury Department (1988-1989).
J. Michael Luttig (1954) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Trustee	Since 2009	132	Boeing Capital Corporation (aircraft financing) (2006-2010).
Principal Occupation During at Least the Past 5 Years:
Private investor; and formerly, Counselor and Senior Advisor to the Chairman, CEO, and Board of Directors, of The Boeing Company (aerospace company), and member of the Executive Council (May 2019-January 1, 2020); Executive Vice President, General Counsel and member of the Executive Council, The Boeing Company (2006-2019); and Federal Appeals Court Judge, United States Court of Appeals for the Fourth Circuit (1991-2006).
David W. Niemiec (1949) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Trustee	Since 2005	33	Hess Midstream LP (oil and gas midstream infrastructure) (2017-present).
Principal Occupation During at Least the Past 5 Years:
Advisor, Saratoga Partners (private equity fund); and formerly, Managing Director, Saratoga Partners (1998-2001) and SBC Warburg Dillon Read (investment banking) (1997-1998); Vice Chairman, Dillon, Read & Co. Inc. (investment banking) (1991-1997); and Chief Financial Officer, Dillon, Read & Co. Inc. (1982-1997).
Larry D. Thompson (1945) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Trustee	Since 2005	132	The Southern Company (energy company) (2014-present; previously 2010-2012), Graham Holdings Company (education and media organization) (2011-present) and Cbeyond, Inc. (business communications provider) (2010-2012).
Principal Occupation During at Least the Past 5 Years:
Director of various companies; Counsel, Finch McCranie, LLP (law firm) (2015-present); Independent Compliance Monitor and Auditor, Volkswagen AG (manufacturer of automobiles and commercial vehicles) (2017-present); John A. Sibley Professor of Corporate and Business Law, University of Georgia School of Law (2015-present; previously 2011-2012); and formerly, Executive Vice President – Government Affairs, General Counsel and Corporate Secretary, PepsiCo, Inc. (consumer products) (2012-2014); Senior Vice President – Government Affairs, General Counsel and Secretary, PepsiCo, Inc. (2004-2011); Senior Fellow of The Brookings Institution (2003-2004); Visiting Professor, University of Georgia School of Law (2004); and Deputy Attorney General, U.S. Department of Justice (2001-2003).

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TEMPLETON GLOBAL INCOME FUND

Independent Board Members (continued)

Name, Year of Birth and Address	Position	Length of Time Served	Number of Portfolios in Fund Complex Overseen     by Board Member*	Other Directorships Held During at Least the Past 5 Years
Constantine D. Tseretopoulos (1954) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Trustee	Since 1999	21	None
Principal Occupation During at Least the Past 5 Years:
Physician, Chief of Staff, owner and operator of the Lyford Cay Hospital (1987-present); director of various nonprofit organizations; and formerly, Cardiology Fellow, University of Maryland (1985-1987); and Internal Medicine Resident, Greater Baltimore Medical Center (1982-1985).
Robert E. Wade (1946) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Trustee	Since 2006	33	El Oro Ltd (investments) (2003-2019).
Principal Occupation During at Least the Past 5 Years:
Attorney at law engaged in private practice as a sole practitioner (1972-2008) and member of various boards.
Interested Board Members and Officers

Name, Year of Birth and Address	Position	Length of Time Served	Number of Portfolios in Fund Complex Overseen     by Board Member*	Other Directorships Held During at Least the Past 5 Years
**Gregory E. Johnson (1961) One Franklin Parkway San Mateo, CA 94403-1906	Trustee	Since 2006	144	None
Principal Occupation During at Least the Past 5 Years:
Chairman of the Board, Member - Office of the Chairman, Director and Chief Executive Officer, Franklin Resources, Inc.; officer and/or director or trustee, as the case may be, of some of the other subsidiaries of Franklin Resources, Inc. and of 39 of the investment companies in Franklin Templeton; Vice Chairman, Investment Company Institute; and formerly, President, Franklin Resources, Inc. (1994-2015).
**Rupert H. Johnson, Jr. (1940) One Franklin Parkway San Mateo, CA 94403-1906	Chairman of the Board, Trustee and Vice President	Chairman of the Board and Trustee since 2013 and Vice President since 1996	132	None
Principal Occupation During at Least the Past 5 Years:
Vice Chairman, Member - Office of the Chairman and Director, Franklin Resources, Inc.; Director, Franklin Advisers, Inc.; and officer and/or director or trustee, as the case may be, of some of the other subsidiaries of Franklin Resources, Inc. and of 37 of the investment companies in Franklin Templeton.
Alison E. Baur (1964) One Franklin Parkway San Mateo, CA 94403-1906	Vice President	Since 2012	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Deputy General Counsel, Franklin Templeton; and officer of some of the other subsidiaries of Franklin Resources, Inc. and of 41 of the investment companies in Franklin Templeton.
Breda M. Beckerle (1958) 280 Park Avenue New York, NY 10017	Interim Chief Compliance Officer	Since January 2020	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Chief Compliance Officer, Fiduciary Investment Management International, Inc., Franklin Advisers, Inc., Franklin Advisory Services, LLC, Franklin Mutual Advisers, LLC, Franklin Templeton Institutional, LLC; and officer of 41 of the investment companies in Franklin Templeton.

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TEMPLETON GLOBAL INCOME FUND

Interested Board Members and Officers (continued)

Name, Year of Birth and Address	Position	Length of Time Served	Number of Portfolios in Fund Complex Overseen     by Board Member*	Other Directorships Held During at Least the Past 5 Years
Steven J. Gray (1955) One Franklin Parkway San Mateo, CA 94403-1906	Vice President	Since 2009	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Senior Associate General Counsel, Franklin Templeton; Vice President, Franklin Templeton Distributors, Inc. and FASA, LLC; and officer of 41 of the investment companies in Franklin Templeton.
Michael Hasenstab Ph.D. (1973) One Franklin Parkway San Mateo, CA 94403-1906	President and Chief Executive Officer – Investment Management	Since 2018	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Executive Vice President, Franklin Advisers, Inc.; and officer of some of the other subsidiaries of Franklin Resources, Inc. and of three of the investment companies in Franklin Templeton.
Matthew T. Hinkle (1971) One Franklin Parkway San Mateo, CA 94403-1906	Chief Executive Officer – Finance and Administration	Since 2017	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Senior Vice President, Franklin Templeton Services, LLC; officer of 41 of the investment companies in Franklin Templeton; and formerly, Vice President, Global Tax (2012-April 2017) and Treasurer/Assistant Treasurer, Franklin Templeton (2009-2017).
Robert G. Kubilis (1973) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Chief Financial Officer, Chief Accounting Officer and Treasurer	Since 2017	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Treasurer, U.S. Fund Administration & Reporting, Franklin Templeton; and officer of 15 of the investment companies in Franklin Templeton.
Robert Lim (1948) One Franklin Parkway San Mateo, CA 94403-1906	Vice President – AML Compliance	Since 2016	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Vice President, Franklin Templeton Companies, LLC; Chief Compliance Officer, Franklin Templeton Distributors, Inc. and Franklin Templeton Investor Services, LLC; and officer of 41 of the investment companies in Franklin Templeton.
Navid J. Tofigh (1972) One Franklin Parkway San Mateo, CA 94403-1906	Vice President	Since 2015	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Associate General Counsel, Franklin Templeton; and officer of 41 of the investment companies in Franklin Templeton.
Craig S. Tyle (1960) One Franklin Parkway San Mateo, CA 94403-1906	Vice President	Since 2005	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
General Counsel and Executive Vice President, Franklin Resources, Inc.; and officer of some of the other subsidiaries of Franklin Resources, Inc. and of 41 of the investment companies in Franklin Templeton.

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TEMPLETON GLOBAL INCOME FUND

Interested Board Members and Officers (continued)

Name, Year of Birth and Address	Position	Length of Time Served	Number of Portfolios in Fund Complex Overseen     by Board Member*	Other Directorships Held During at Least the Past 5 Years
Lori A. Weber (1964) 300 S.E. 2nd Street Fort Lauderdale, FL 33301-1923	Vice President and Secretary	Vice President since 2011 and Secretary since 2013	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Senior Associate General Counsel, Franklin Templeton; Assistant Secretary, Franklin Resources, Inc.; Vice President and Secretary, Templeton Investment Counsel, LLC; and officer of 41 of the investment companies in Franklin Templeton.
Christine Zhu (1975) One Franklin Parkway San Mateo, CA 94403-1906	Vice President	Since 2018	Not Applicable	Not Applicable
Principal Occupation During at Least the Past 5 Years:
Vice President, Franklin Advisers, Inc.; and officer of three of the investment companies in Franklin Templeton.

*We base the number of portfolios on each separate series of the U.S. registered investment companies within the Franklin Templeton fund complex. These portfolios have a common investment manager or affiliated investment managers.

**Gregory E. Johnson is considered to be an interested person of the Fund under the federal securities laws due to his position as an officer and director of Franklin Resources, Inc. (Resources), which is the parent company of the Fund’s investment manager. Rupert H. Johnson, Jr. is considered to be an interested person of the Fund under the federal securities laws due to his position as an officer and director and major shareholder of Resources.

Note 1: Rupert H. Johnson, Jr. is the uncle of Gregory E. Johnson.

Note 2: Officer information is current as of the date of this report. It is possible that after this date, information about officers may change.

The Sarbanes-Oxley Act of 2002 and Rules adopted by the US Securities and Exchange Commission require the Fund to disclose whether the Fund’s Audit Committee includes at least one member who is an audit committee financial expert within the meaning of such Act and Rules. The Fund’s Board has determined that there is at least one such financial expert on the Audit Committee and has designated each of Ann Torre Bates and David W. Niemiec as an audit committee financial expert. The Board believes that Ms. Bates and Mr. Niemiec qualify as such an expert in view of their extensive business background and experience. Ms. Bates has served as a member of the Fund Audit Committee since 2008. She currently serves as a director of Ares Capital Corporation (2010-present) and United Natural Foods, Inc. (2013-present) and was formerly a director of Navient Corporation from 2014 to 2016, SLM Corporation from 1997 to 2014 and Allied Capital Corporation from 2003 to 2010, Executive Vice President and Chief Financial Officer of NHP Incorporated from 1995 to 1997 and Vice President and Treasurer of US Airways, Inc. until 1995. Mr. Niemiec has served as a member of the Fund Audit Committee since 2005, currently serves as an Advisor to Saratoga Partners and was formerly its Managing Director from 1998 to 2001 and serves as a director of Hess Midstream LP (2017-present). Mr. Niemiec was formerly a director of Emeritus Corporation from 1999 to 2010 and OSI Pharmaceuticals, Inc. from 2006 to 2010, Managing Director of SBC Warburg Dillon Read from 1997 to 1998, and was Vice Chairman from 1991 to 1997 and Chief Financial Officer from 1982 to 1997 of Dillon, Read & Co. Inc. As a result of such background and experience, the Board believes that Ms. Bates and Mr. Niemiec have each acquired an understanding of generally accepted accounting principles and financial statements, the general application of such principles in connection with the accounting estimates, accruals and reserves, and analyzing and evaluating financial statements that present a breadth and level of complexity of accounting issues generally comparable to those of the Fund, as well as an understanding of internal controls and procedures for financial reporting and an understanding of audit committee functions. Ms. Bates and Mr. Niemiec are independent Board members as that term is defined under the applicable U.S. Securities and Exchange Commission Rules and Releases or the listing standards applicable to the Fund.

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Shareholder Information

Proxy Voting Policies and Procedures

The Fund’s investment manager has established Proxy Voting Policies and Procedures (Policies) that the Fund uses to determine how to vote proxies relating to portfolio securities. Shareholders may view the Fund’s complete Policies online at franklintempleton.com. Alternatively, shareholders may request copies of the Policies free of charge by calling the Proxy Group collect at (954) 527-7678 or by sending a written request to: Franklin Templeton Companies, LLC, 300 S.E. 2nd Street, Fort Lauderdale, FL 33301, Attention: Proxy Group. Copies of the Fund’s proxy voting records are also made available online at franklintempleton.com and posted on the U.S. Securities and Exchange Commission’s website at sec.gov and reflect the most recent 12-month period ended June 30.

Quarterly Statement of Investments

The Fund files a complete statement of investments with the U.S. Securities and Exchange Commission for the first and third quarters for each fiscal year as an exhibit to its report on Form N-PORT. Shareholders may view the filed Form N-PORT by visiting the Commission’s website at sec.gov. The filed form may also be viewed and copied at the Commission’s Public Reference Room in Washington, DC. Information regarding the operations of the Public Reference Room may be obtained by calling (800) SEC-0330.

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TERMS AND CONDITIONS OF DIVIDEND REINVESTMENT AND CASH PURCHASE PLAN

1. American Stock Transfer and Trust Company LLC (“AST”), will act as Plan Administrator and will open an account for participating shareholders (“participant”) under the Dividend Reinvestment and Cash Purchase Plan (the “Plan”) in the same name as that in which the participant’s present shares are registered, and put the Plan into effect as of the first record date for a dividend or capital gains distribution after AST receives the authorization duly executed by such participant.

2. Whenever Templeton Global Income Fund (the “Fund”) declares a distribution from capital gains or an income dividend payable in either cash or shares of the Fund (“Fund shares”), if the market price per share on the valuation date equals or exceeds the net asset value per share, participants will receive such dividend or distribution entirely in Fund shares, and AST shall automatically receive such Fund shares for participant accounts including aggregate fractions. The number of additional Fund shares to be credited to participant accounts shall be determined by dividing the equivalent dollar amount of the capital gains distribution or dividend payable to participants by the Fund’s net asset value per share of the Fund shares on the valuation date, provided that the Fund shall not issue such shares at a price lower than 95% of the current market price per share. The valuation date will be the payable date for such distribution or dividend.

3. Whenever the Fund declares a distribution from capital gains or an income dividend payable only in cash, or if the Fund’s net asset value per share exceeds the market price per share on the valuation date, AST shall apply the amount of such dividend or distribution payable to participants to the purchase of Fund shares on the open market (less their pro rata share of trading fees incurred with respect to open market purchases in connection with the reinvestment of such dividend or distribution). If, before AST has completed its purchases, the market price exceeds the net asset value per share, the average per share purchase price paid by AST may exceed the net asset value of the Fund’s shares, resulting in the acquisition of fewer shares than if the dividend or capital gains distribution had been paid in shares issued by the Fund at net asset value per share. Such purchases will be made promptly after the payable date for such dividend or distribution, and in no event later than five business days prior to the record date for the next dividend or distribution except where temporary curtailment or suspension of purchase is necessary to comply with applicable provisions of the Federal securities laws.

4. A participant has the option of submitting additional payments to AST, in any amounts of at least $100, up to a maximum of $5,000 per month, for the purchase of Fund shares for his or her account. These payments may be made electronically through AST at www.amstock.com or by check payable to “American Stock Transfer and Trust Company LLC” and sent to American Stock Transfer and Trust Company LLC, P.O. Box 922, Wall Street Station, New York, NY 10269-0560, Attention: Templeton Global Income Fund. AST shall apply such payments (less a $5.00 service charge and less a pro rata share of trading fees) to purchases of Fund shares on the open market, as discussed below in paragraph 6. AST shall make such purchases promptly beginning on the dividend payment date, which is usually the last business day of each month, or, in the event that there is no dividend or distribution paid in a month, AST shall make such purchases on the last business day of that month, and in no event more than 30 days after receipt, except where necessary to comply with provisions of the Federal securities laws. Any voluntary payment received less than two business days before an investment

date shall be invested during the following month unless there are more than 30 days until the next investment date, in which case such payment will be returned to the participant. AST shall return to the participant his or her entire voluntary cash payment upon written notice of withdrawal received by AST not less than 48 hours before such payment is to be invested. Such written notice shall be sent to AST by the participant, as discussed below in paragraph 14.

5. For all purposes of the Plan: (a) the market price of the Fund’s shares on a particular date shall be the last sale price on the New York Stock Exchange on that date if a business day and if not, on the preceding business day, or if there is no sale on such Exchange on such date, then the mean between the closing bid and asked quotations for such shares on such Exchange on such date, and (b) net asset value per share of the Fund’s shares on a particular date shall be as determined by or on behalf of the Fund.

6. Open market purchases provided for above may be made on any securities exchange where Fund shares are traded, in the over-the-counter market or in negotiated transactions and may be on such terms as to price, delivery and otherwise as AST shall determine. Participant funds held by AST uninvested will not bear interest, and it is understood that, in any event, AST shall have no liability in connection with any inability to purchase Fund shares within five business days prior to the record date for the next dividend or distribution as herein provided, or with the timing of any purchases effected. AST shall have no responsibility as to the value of the Fund shares acquired for participant accounts. For the purposes of purchases on the open market, AST may aggregate purchases with those of other participants, and the average price (including trading fees) of all shares purchased by AST shall be the price per share allocable to all participants.

7. AST will hold shares acquired pursuant to this Plan, together with the shares of other participants acquired pursuant to this Plan, in its name or that of its nominee. AST will forward to participants any proxy solicitation material and will vote any shares so held for participants only in accordance with the proxies returned by participants to the Fund. Upon written request, AST will deliver to participants, without charge, a certificate or certificates for all or a portion of the full shares held by AST.

8. AST will confirm to participants each acquisition made for an account as soon as practicable but not later than ten business days after the date thereof. AST will send to participants a detailed account statement showing total dividends and distributions, date of investment, shares acquired and price per share, and total shares of record for the account. Although participants may from time to time have an undivided fractional interest (computed to three decimal places) in a share of the Fund, no certificates for a fractional share will be issued. However, dividends and distributions on fractional shares will be credited to participant accounts. In the event of termination of an account under the Plan, AST will adjust for any such undivided fractional interest in cash at the market price of the Fund’s shares on the date of termination.

9. Any share dividends or split shares distributed by the Fund on shares held by AST for participants will be credited to participant accounts. In the event that the Fund makes available to its shareholders transferable rights to purchase additional Fund shares or other securities, AST will sell such rights and apply the proceeds of the sale to the purchase of additional Fund shares for the participant accounts. The shares held for participants under the Plan

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TERMS AND CONDITIONS OF DIVIDEND REINVESTMENT AND CASH PURCHASE PLAN (continued)

will be added to underlying shares held by participants in calculating the number of rights to be issued.

10. AST’s service charge for capital gains or income dividend purchases will be paid by the Fund when shares are issued by the Fund or purchased on the open market. AST will deduct a $5.00 service charge from each voluntary cash payment. Participants will be charged a pro rata share of trading fees on all open market purchases.

11. Participants may withdraw shares from such participant’s account or terminate their participation under the Plan by notifying AST in writing. Such withdrawal or termination will be effective immediately if notice is received by AST not less than two days prior to any dividend or distribution record date; otherwise such withdrawal or termination will be effective after the investment of any current dividend or distribution or voluntary cash payment. The Plan may be terminated by AST or the Fund upon 90 days’ notice in writing mailed to participants. Upon any withdrawal or termination, AST will cause a certificate or certificates for the full shares held by AST for participants and cash adjustment for any fractional shares (valued at the market value of the shares at the time of withdrawal or termination) to be delivered to participants, less any trading fees. Alternatively, a participant may elect by written notice to AST to have AST sell part or all of the shares held for him and to remit the proceeds to him. AST is authorized to deduct a $15.00 service charge and a $0.12 per share trading fee for this transaction from the proceeds. If a participant disposes of all shares registered in his name on the books of the Fund, AST may, at its option, terminate the participant’s account or determine from the participant whether he wishes to continue his participation in the Plan.

12. These terms and conditions may be amended or supplemented by AST or the Fund at any time or times, except when necessary or appropriate to comply with applicable law or the rules or policies of the U.S. Securities and Exchange Commission or any other regulatory authority, only by mailing to participants appropriate written notice at least 90 days prior to the effective date thereof. The amendment or supplement shall be deemed to be accepted by participants unless, prior to the effective date thereof, AST receives written notice of the termination of a participant account under the Plan. Any such amendment may include an appointment by AST in its place and stead of a successor Plan Administrator under these terms and conditions, with full power and authority to perform all or any of the acts to be performed by AST under these terms and conditions. Upon any such appointment of a Plan Administrator for the purpose of receiving dividends and distributions, the Fund will be authorized to pay to such successor Plan Administrator, for a participant’s account, all dividends and distributions payable on Fund shares held in a participant’s name or under the Plan for retention or application by such successor Plan Administrator as provided in these terms and conditions.

13. AST shall at all times act in good faith and agree to use its best efforts within reasonable limits to ensure the accuracy of all services performed under this Agreement and to comply with applicable law, but shall assume no responsibility and shall not be liable for loss or damage due to errors unless such error is caused by AST’s negligence, bad faith or willful misconduct or that of its employees.

14. Any notice, instruction, request or election which by any provision of the Plan is required or permitted to be given or made by the participant to AST shall be in writing addressed to American

Stock Transfer and Trust Company LLC, P.O. Box 922, Wall Street Station, New York, NY 10269-0560, or www.astfinancial.com or such other address as AST shall furnish to the participant, and shall have been deemed to be given or made when received by AST.

15. Any notice or other communication which by any provision of the Plan is required to be given by AST to the participant shall be in writing and shall be deemed to have been sufficiently given for all purposes by being deposited postage prepaid in a post office letter box addressed to the participant at his or her address as it shall last appear on AST’s records. The participant agrees to notify AST promptly of any change of address.

16. These terms and conditions shall be governed by and construed in accordance with the laws of the State of New York and the rules and regulations of the U.S. Securities and Exchange Commission, as they may be amended from time to time.

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Investors should be aware that the value of investments made for the Fund may go down as well as up. Like any investment in securities, the value of the Fund’s portfolio will be subject to the risk of loss from market, currency, economic, political and other factors. The Fund and its investors are not protected from such losses by the investment manager. Therefore, investors who cannot accept this risk should not invest in shares of the Fund.

To help ensure we provide you with quality service, all calls to and from our service areas are monitored and/or recorded.

	Annual Report Templeton Global Income Fund
	Investment Manager	Transfer Agent	Fund Information
	Franklin Advisers, Inc.	American Stock Transfer & Trust Co., LLC 6201 15th Avenue Brooklyn, NY 11219 Toll Free Number: (800) 416-5585 Hearing Impaired Number: (866) 703-9077 International Phone Number: (718) 921-8124 www.astfinancial.com	(800) DIAL BEN® / 342-5236

© 2020 Franklin Templeton Investments. All rights reserved. TLGIM A 02/20

Item 2. Code of Ethics.

(a) The Registrant has adopted a code of ethics that applies to its principal executive officers and principal financial and accounting officer.

(c) N/A

(d) N/A

(f) Pursuant to Item 13(a)(1), the Registrant is attaching as an exhibit a copy of its code of ethics that applies to its principal executive officers and principal financial and accounting officer.

Item 3. Audit Committee Financial Expert.

(a) (1)	The Registrant has an audit committee financial expert serving on its audit committee.
(2)	The audit committee financial experts are Ann Torre Bates and David W. Niemiec and they are “independent” as defined under the relevant Securities and Exchange Commission Rules and Releases.

Item 4. Principal Accountant Fees and Services.

(a)    Audit Fees

The aggregate fees paid to the principal accountant for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or for services that are normally provided by the principal accountant in connection with statutory and regulatory filings or engagements were $60,466 for the fiscal year ended December 31, 2019 and $56,825 for the fiscal year ended December 31, 2018.

(b)    Audit-Related Fees

There were no fees paid to the principal accountant for assurance and related services rendered by the principal accountant to the registrant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of Item 4.

There were no fees paid to the principal accountant for assurance and related services rendered by the principal accountant to the registrant’s investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant that are reasonably related to the performance of the audit of their financial statements.

(c)    Tax Fees

There were no fees paid to the principal accountant for professional services rendered by the principal accountant to the registrant for tax compliance, tax advice and tax planning.

The aggregate fees paid to the principal accountant for professional services rendered by the principal accountant to the registrant’s investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant for tax compliance, tax advice and tax planning were $20,000 for the fiscal year ended December 31, 2019 and $5,000 for the fiscal year ended December 31, 2018. The services for which these fees were paid included professional fees in connection with tax treatment of equipment lease transactions, professional fees in connection with an Indonesia withholding tax refund claim, and tax consulting services related to the operating agreement and term sheet for the launch of a new fund.

(d)    All Other Fees

The aggregate fees paid to the principal accountant for products and services rendered by the principal accountant to the registrant not reported in paragraphs (a)-(c) of Item 4 were $0 for the fiscal year ended December 31, 2019 and $353 for the fiscal year ended December 31, 2018. The services for which these fees were paid included review of materials provided to the fund Board in connection with the investment management contract renewal process.

The aggregate fees paid to the principal accountant for products and services rendered by the principal accountant to the registrant’s investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant not reported in paragraphs (a)-(c) of Item 4 were $145,644 for the fiscal year ended December 31, 2019 and $16,500 for the fiscal year ended December 31, 2018. The services for which these fees were paid included valuation Services related to Fair Value engagement, issuance of an Auditors’ Certificate for South Korean regulatory shareholder disclosures, and assets under management certification.

(e) (1)    The registrant’s audit committee is directly responsible for approving the services to be provided by the auditors, including:

(i)    pre-approval of all audit and audit related services;

(ii)    pre-approval of all non-audit related services to be provided to the Fund by the auditors;

(iii)    pre-approval of all non-audit related services to be provided to the registrant by the auditors to the registrant’s investment adviser or to any entity that controls, is controlled by or is under common control with the registrant’s investment adviser and that provides ongoing services to the registrant where the non-audit services relate directly to the operations or financial reporting of the registrant; and

(iv)    establishment by the audit committee, if deemed necessary or appropriate, as an alternative to committee pre-approval of services to be provided by the auditors, as required by paragraphs (ii) and (iii) above, of policies and procedures to permit such services to be pre-approved by other means, such as through establishment of guidelines or by action of a designated member or members of the committee; provided the policies and procedures are detailed as to the particular service and the committee is informed of each service and such policies and procedures do not include delegation of audit committee responsibilities, as contemplated under the Securities Exchange Act of 1934, to management; subject, in the case of (ii) through (iv), to any waivers, exceptions or exemptions that may be available under applicable law or rules.

(e) (2)    None of the services provided to the registrant described in paragraphs (b)-(d) of Item 4 were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of regulation S-X.

(f)    No disclosures are required by this Item 4(f).

(g)    The aggregate non-audit fees paid to the principal accountant for services rendered by the principal accountant to the registrant and the registrant’s investment adviser and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the registrant were $165,644 for the fiscal year ended December 31, 2019 and $21,853 for the fiscal year ended December 31, 2018.

(h)    The registrant’s audit committee of the board has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed Registrants

Members of the Audit Committee are: David W. Niemiec, Ann Torre Bates and Constantine D. Tseretopoulos.

Item 6. Schedule of Investments.     N/A

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

The board of trustees of the Fund has delegated the authority to vote proxies related to the portfolio securities held by the Fund to the Fund’s investment manager Franklin Advisers, Inc. in accordance with the Proxy Voting Policies and Procedures (Policies) adopted by the investment manager.

The investment manager has delegated its administrative duties with respect to the voting of proxies for securities to the Proxy Group within Franklin Templeton Companies, LLC (Proxy Group), an affiliate and wholly owned subsidiary of Franklin Resources, Inc. All proxies received by the Proxy Group will be voted based upon the investment manager’s instructions and/or policies. The investment manager votes proxies solely in the best interests of the Fund and its shareholders.

To assist it in analyzing proxies of equity securities, the investment manager subscribes to Institutional Shareholder Services, Inc. (ISS), an unaffiliated third-party corporate governance research service that provides in-depth analyses of shareholder meeting agendas, vote recommendations, vote execution services, ballot reconciliation services, recordkeeping and vote disclosure services. In addition, the investment manager subscribes to Glass, Lewis & Co., LLC (Glass Lewis), an unaffiliated third-party analytical research firm, to receive analyses and vote recommendations on the shareholder meetings of publicly held U.S. companies, as well as a limited subscription to its international research. Also, the investment manager has a supplemental subscription to Egan-Jones Proxy Services (Egan-Jones), an unaffiliated third party proxy advisory firm, to receive analyses and vote recommendations. Although analyses provided by ISS, Glass Lewis, Egan-Jones, and/or another independent third party proxy service provider (each a “Proxy Service”) are thoroughly reviewed and considered in making a final voting decision, the investment manager does not consider recommendations from a Proxy Service or any third party to be determinative of the investment manager’s ultimate decision. Rather, the investment manager exercises its independent judgment in making voting decisions. For most proxy proposals, the investment manager’s evaluation should result in the same position being taken for all Funds. In some cases, however, the evaluation may result in a Fund voting differently, depending upon the nature and objective of the Fund, the composition of its portfolio and other factors. As a matter of policy, the officers, directors/trustees and employees of the investment manager and the Proxy Group will not be influenced by outside sources whose interests conflict with the interests of the Fund and its shareholders. Efforts are made to resolve all conflicts in the best interests of the investment manager’s clients. Material conflicts of interest are identified by the Proxy Group based upon analyses of client, distributor, broker-dealer and vendor lists, information periodically gathered from directors and officers, and information derived from other sources, including public filings. In situations where a material conflict of

interest is identified, the Proxy Group may vote consistent with the voting recommendation of a Proxy Service; or send the proxy directly to the Fund’s board or a committee of the board with the investment manager’s recommendation regarding the vote for approval.

Where a material conflict of interest has been identified, but the items on which the investment manager’s vote recommendations differ from a Proxy Service and relate specifically to (1) shareholder proposals regarding social or environmental issues, (2) “Other Business” without describing the matters that might be considered, or (3) items the investment manager wishes to vote in opposition to the recommendations of an issuer’s management, the Proxy Group may defer to the vote recommendations of the investment manager rather than sending the proxy directly to the Fund’s board or a board committee for approval.

To avoid certain potential conflicts of interest, the investment manager will employ echo voting or pass-through voting, if possible, in the following instances: (1) when the Fund invests in an underlying fund in reliance on any one of Sections 12(d)(1)(F) or (G) of the 1940 Act, the rules thereunder, or pursuant to a SEC exemptive order thereunder; (2) when the Fund invests uninvested cash in affiliated money market funds pursuant to the rules under the 1940 Act or any exemptive orders thereunder (“cash sweep arrangement”); or (3) when required pursuant to the Fund’s governing documents or applicable law. Echo voting means that the investment manager will vote the shares in the same proportion as the vote of all of the other holders of the underlying fund’s shares. With respect to instances when a Franklin Templeton U.S. registered investment company invests in an underlying fund in reliance on any one of Sections 12(d)(1)(F) or (G) of the 1940 Act, the rules thereunder, or pursuant to an SEC exemptive order thereunder, and there are no other unaffiliated shareholders also invested in the underlying fund, the investment manager will vote in accordance with the recommendation of such investment company’s board of trustees or directors. In addition, to avoid certain potential conflicts of interest, and where required under a fund’s governing documents or applicable law, the investment manager will employ pass-through voting when a Franklin Templeton U.S. registered investment company invests in an underlying fund in reliance on Section 12(d)(1)(E) of the 1940 Act, the rules thereunder, or pursuant to an SEC exemptive order thereunder. In “pass-through voting,” a feeder fund will solicit voting instructions from its shareholders as to how to vote on the master fund’s proposals.

The recommendation of management on any issue is a factor that the investment manager considers in determining how proxies should be voted. However, the investment manager does not consider recommendations from management to be determinative of the investment manager’s ultimate decision. As a matter of practice, the votes with respect to most issues are cast in accordance with the position of the company’s management. Each issue, however, is considered on its own merits, and the investment manager will not support the position of the company’s management in any situation where it deems that the ratification of management’s position would adversely affect the investment merits of owning that company’s shares.

Engagement with issuers. The investment manager believes that engagement with issuers is important to good corporate governance and to assist in making proxy voting decisions. The investment manager may engage with issuers to discuss specific ballot items to be voted on in advance of an annual or special meeting to obtain further information or clarification on the proposals. The investment

manager may also engage with management on a range of environmental, social or corporate governance issues throughout the year.

Investment manager’s proxy voting policies and principles The investment manager has adopted general proxy voting guidelines, which are summarized below. These guidelines are not an exhaustive list of all the issues that may arise and the investment manager cannot anticipate all future situations. In all cases, each proxy and proposal (including both management and shareholder proposals) will be considered based on the relevant facts and circumstances on a case-by-case basis.

Board of directors. The investment manager supports an independent, diverse board of directors, and prefers that key committees such as audit, nominating, and compensation committees be comprised of independent directors. The investment manager supports boards with strong risk management oversight. The investment manager will generally vote against management efforts to classify a board and will generally support proposals to declassify the board of directors. The investment manager will consider withholding votes from directors who have attended less than 75% of meetings without a valid reason. While generally in favor of separating Chairman and CEO positions, the investment manager will review this issue as well as proposals to restore or provide for cumulative voting on a case-by-case basis, taking into consideration factors such as the company’s corporate governance guidelines or provisions and performance. The investment manager generally will support non-binding shareholder proposals to require a majority vote standard for the election of directors; however, if these proposals are binding, the investment manager will give careful review on a case-by-case basis of the potential ramifications of such implementation.

In the event of a contested election, the investment manager will review a number of factors in making a decision including management’s track record, the company’s financial performance, qualifications of candidates on both slates, and the strategic plan of the dissidents and/or shareholder nominees.

Ratification of auditors of portfolio companies. The investment manager will closely scrutinize the independence, role and performance of auditors. On a case-by-case basis, the investment manager will examine proposals relating to non-audit relationships and non-audit fees. The investment manager will also consider, on a case-by-case basis, proposals to rotate auditors, and will vote against the ratification of auditors when there is clear and compelling evidence of a lack of independence, accounting irregularities or negligence. The investment manager may also consider whether the ratification of auditors has been approved by an appropriate audit committee that meets applicable composition and independence requirements.

Management and director compensation. A company’s equity-based compensation plan should be in alignment with the shareholders’ long-term interests. The investment manager believes that executive compensation should be directly linked to the performance of the company. The investment manager evaluates plans on a case-by-case basis by considering several factors to determine whether the plan is fair and reasonable, including the ISS quantitative model utilized to assess such plans and/or the Glass Lewis evaluation of the plans. The investment manager will generally oppose plans that have the potential to be excessively dilutive, and will almost always oppose plans that are structured to allow the repricing of underwater options, or plans that have an automatic share replenishment “evergreen” feature. The investment manager will

generally support employee stock option plans in which the purchase price is at least 85% of fair market value, and when potential dilution is 10% or less.

Severance compensation arrangements will be reviewed on a case-by-case basis, although the investment manager will generally oppose “golden parachutes” that are considered to be excessive. The investment manager will normally support proposals that require a percentage of directors’ compensation to be in the form of common stock, as it aligns their interests with those of shareholders.

The investment manager will review non-binding say-on-pay proposals on a case-by-case basis, and will generally vote in favor of such proposals unless compensation is misaligned with performance and/or shareholders’ interests, the company has not provided reasonably clear disclosure regarding its compensation practices, or there are concerns with the company’s remuneration practices.

Anti-takeover mechanisms and related issues. The investment manager generally opposes anti-takeover measures since they tend to reduce shareholder rights. However, as with all proxy issues, the investment manager conducts an independent review of each anti-takeover proposal. On occasion, the investment manager may vote with management when the research analyst has concluded that the proposal is not onerous and would not harm the Fund or its shareholders’ interests. The investment manager generally supports proposals that require shareholder rights’ plans (“poison pills”) to be subject to a shareholder vote and will closely evaluate such plans on a case-by-case basis to determine whether or not they warrant support. In addition, the investment manager will generally vote against any proposal to issue stock that has unequal or subordinate voting rights. The investment manager generally opposes any supermajority voting requirements as well as the payment of “greenmail.” The investment manager generally supports “fair price” provisions and confidential voting. The investment manager will review a company’s proposal to reincorporate to a different state or country on a case-by-case basis taking into consideration financial benefits such as tax treatment as well as comparing corporate governance provisions and general business laws that may result from the change in domicile.

Changes to capital structure. The investment manager realizes that a company’s financing decisions have a significant impact on its shareholders, particularly when they involve the issuance of additional shares of common or preferred stock or the assumption of additional debt. The investment manager will review, on a case-by-case basis, proposals by companies to increase authorized shares and the purpose for the increase. The investment manager will generally not vote in favor of dual-class capital structures to increase the number of authorized shares where that class of stock would have superior voting rights. The investment manager will generally vote in favor of the issuance of preferred stock in cases where the company specifies the voting, dividend, conversion and other rights of such stock and the terms of the preferred stock issuance are deemed reasonable. The investment manager will review proposals seeking preemptive rights on a case-by-case basis.

Mergers and corporate restructuring. Mergers and acquisitions will be subject to careful review by the research analyst to determine whether they would be beneficial to shareholders. The investment manager will analyze various economic and strategic factors in making the final decision on a merger or acquisition. Corporate restructuring proposals are also subject to a thorough examination on a case-by-case basis.

Environmental and social issues. The investment manager considers environmental and social issues alongside traditional financial measures to provide a more comprehensive view of the value, risk and return potential of an investment. Companies may face significant financial, legal and reputational risks resulting from poor environmental and social practices, or negligent oversight of environmental or social issues. Franklin Templeton’s “Responsible Investment Principles and Policies” describes the investment manager’s approach to consideration of environmental, social and governance issues within the investment manager’s processes and ownership practices.

The investment manager will review shareholder proposals on a case-by-case basis and may support those that serve to enhance value or mitigate risk, are drafted appropriately, and do not disrupt the course of business or require a disproportionate or inappropriate use of company resources. In the investment manager’s experience, those companies that are managed well are often effective in dealing with the relevant environmental and social issues that pertain to their business. As such, the investment manager will generally give management discretion with regard to environmental and social issues. However, in cases where management and the board have not demonstrated adequate efforts to mitigate material environmental or social risks, have engaged in inappropriate or illegal conduct, or have failed to adequately address current or emergent risks that threaten shareholder value, the investment manager may choose to support well-crafted shareholder proposals that serve to promote or protect shareholder value. This may include seeking appropriate disclosure regarding material environmental and social issues.

The investment manager will consider supporting a shareholder proposal seeking disclosure and greater board oversight of lobbying and corporate political contributions if the investment manager believes that there is evidence of inadequate oversight by the company’s board, if the company’s current disclosure is significantly deficient, or if the disclosure is notably lacking in comparison to the company’s peers.

Governance matters. The investment manager generally supports the right of shareholders to call special meetings and act by written consent. However, the investment manager will review such shareholder proposals on a case-by-case basis in an effort to ensure that such proposals do not disrupt the course of business or require a disproportionate or inappropriate use of company resources.

Proxy access. In cases where the investment manager is satisfied with company performance and the responsiveness of management, it will generally vote against shareholder proxy access proposals not supported by management. In other instances, the investment manager will consider such proposals on a case-by-case basis, taking into account factors such as the size of the company, ownership thresholds and holding periods, nomination limits (e.g., number of candidates that can be nominated), the intentions of the shareholder proponent, and shareholder base.

Global corporate governance. Many of the tenets discussed above are applied to the investment manager’s proxy voting decisions for international investments. However, the investment manager must be flexible in these worldwide markets. Principles of good corporate governance may vary by country, given the constraints of a country’s laws and acceptable practices in the markets. As a result, it is on occasion difficult to apply a consistent set of governance practices to all issuers. As experienced money managers, the investment manager’s analysts are skilled in understanding the complexities of

the regions in which they specialize and are trained to analyze proxy issues germane to their regions.

The investment manager will generally attempt to process every proxy it receives for all domestic and foreign securities. However, there may be situations in which the investment manager may be unable to successfully vote a proxy, or may choose not to vote a proxy, such as where: (i) a proxy ballot was not received from the custodian bank; (ii) a meeting notice was received too late; (iii) there are fees imposed upon the exercise of a vote and it is determined that such fees outweigh the benefit of voting; (iv) there are legal encumbrances to voting, including blocking restrictions in certain markets that preclude the ability to dispose of a security if the investment manager votes a proxy or where the investment manager is prohibited from voting by applicable law, economic or other sanctions, or other regulatory or market requirements, including but not limited to, effective Powers of Attorney; (v) additional documentation or the disclosure of beneficial owner details is required; (vi) the investment manager held shares on the record date but has sold them prior to the meeting date; (vii) a proxy voting service is not offered by the custodian in the market; (viii) due to either system error or human error, the investment manager’s intended vote is not correctly submitted; (ix) the investment manager believes it is not in the best interest of the Fund or its shareholders to vote the proxy for any other reason not enumerated herein; or (x) a security is subject to a securities lending or similar program that has transferred legal title to the security to another person.

In some non-U.S. jurisdictions, even if the investment manager uses reasonable efforts to vote a proxy on behalf of the Fund, such vote or proxy may be rejected because of (a) operational or procedural issues experienced by one or more third parties involved in voting proxies in such jurisdictions; (b) changes in the process or agenda for the meeting by the issuer for which the investment manager does not have sufficient notice; or (c) the exercise by the issuer of its discretion to reject the vote of the investment manager. In addition, despite the best efforts of the Proxy Group and its agents, there may be situations where the investment manager’s votes are not received, or properly tabulated, by an issuer or the issuer’s agent.

The investment manager or its affiliates may, on behalf of one or more of the proprietary registered investment companies advised by the investment manager or its affiliates, determine to use its best efforts to recall any security on loan where the investment manager or its affiliates (a) learn of a vote on a material event that may affect a security on loan and (b) determine that it is in the best interests of such proprietary registered investment companies to recall the security for voting purposes.

Procedures for meetings involving fixed income securities & privately held issuers. From time to time, certain custodians may process events for fixed income securities through their proxy voting channels rather than corporate action channels for administrative convenience. In such cases, the Proxy Group will receive ballots for such events on the ISS voting platform. The Proxy Group will solicit voting instructions from the investment manager for each Fund involved. If the Proxy Group does not receive voting instructions from the investment manager, the Proxy Group will take no action on the event. The investment manager may be unable to vote a proxy for a fixed income security, or may choose not to vote a proxy, for the reasons described above.

In the rare instance where there is a vote for a privately held issuer, the decision will generally be made by the relevant portfolio managers or research analysts.

The Proxy Group will monitor such meetings involving fixed income securities or privately held issuers for conflicts of interest in accordance with these procedures. If a fixed income or privately held issuer is flagged as a potential conflict of interest, the investment manager may nonetheless vote as it deems in the best interests of the Fund. The investment manager will report such decisions on an annual basis to the Fund board as may be required.

Shareholders may view the complete Policies online at franklintempleton.com. Alternatively, shareholders may request copies of the Policies free of charge by calling the Proxy Group collect at (954) 527-7678 or by sending a written request to: Franklin Templeton Companies, LLC, 300 S.E. 2nd Street, Fort Lauderdale, FL 33301-1923, Attention: Proxy Group. Copies of the Fund’s proxy voting records are available online at franklintempleton.com and posted on the SEC website at www.sec.gov. The proxy voting records are updated each year by August 31 to reflect the most recent 12-month period ended June 30.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

(a)(1) As of February 28, 2020, the portfolio managers of the Fund are as follows:

MICHAEL HASENSTAB, Ph.D., Executive Vice President of Franklin Advisers, Inc. Dr. Hasenstab has been a portfolio manager of the Fund since 2002. He has final authority over all aspects of the Fund’s investment portfolio, including but not limited to, purchases and sales of individual securities, portfolio risk assessment, and the management of daily cash balances in accordance with anticipated management requirements. The degree to which he may perform these functions, and the nature of these functions, may change from time to time. He first joined Franklin Templeton in 1995, rejoining again in 2001 after a three-year leave to obtain his PH.D.

Calvin Ho, Ph.D., Senior Vice President of Franklin Advisers Dr. Ho has been a portfolio manager of the Fund since December 2018. He provides research and advice on the purchases and sales of individual securities and portfolio risk assessment. He joined Franklin Templeton in 2005.

(a)(2) This section reflects information about the portfolio managers as of the fiscal year ended December 31, 2018.

The following table shows the number of other accounts managed by each portfolio manager and the total assets in the accounts managed within each category:

Name	Number of Other Registered Investment Companies Managed1		Assets of Other Registered Investment Companies Managed (x $1 million)1		Number of Other Pooled Investment Vehicles Managed1			Assets of Other Pooled Investment Vehicles Managed (x $1 million)1		Number of Other Accounts Managed1			Assets of Other Accounts Managed (x $1 million)1
Michael Hasenstab		17		3,9489.3		45	2		5,5938.1		13	2		4,986.5
Calvin Ho		10		3,7492.2		18			4,1790.3		1			0.0

1. The various pooled investment vehicles and accounts listed are managed by a team of investment professionals. Accordingly, the individual manager listed would not be solely responsible for managing such listed amounts.

2. Dr. Hasenstab manages Pooled Investment Vehicles and Other Accounts with $10,415 in total assets with a performance fee.

Portfolio managers that provide investment services to the Fund may also provide services to a variety of other investment products, including other funds, institutional accounts and private accounts. The advisory fees for some of such other products and accounts may be different than that charged to the Fund and may include performance based compensation (as noted in the chart above, if any). This may result in fees that are higher (or lower) than the advisory fees paid by the Fund. As a matter of policy, each fund or account is managed solely for the benefit of the beneficial owners thereof. As discussed below, the separation of the trading execution function from the portfolio management function and the application of objectively based trade allocation procedures help to mitigate potential conflicts of interest that may arise as a result of the portfolio managers managing accounts with different advisory fees.

Conflicts. The management of multiple funds, including the Fund, and accounts may also give rise to potential conflicts of interest if the funds and other accounts have different objectives, benchmarks, time horizons, and fees as the portfolio manager must allocate his or her time and investment ideas across multiple funds and accounts. The investment manager seeks to manage such competing interests for the time and attention of portfolio managers by having portfolio managers focus on a particular investment discipline. Most other accounts managed by a portfolio manager are managed using the same investment strategies that are used in connection with the management of the Fund. Accordingly, portfolio holdings, position sizes, and industry and sector exposures tend to be similar across similar portfolios, which may minimize the potential for conflicts of interest. As noted above, the separate management of the trade execution and valuation functions from the portfolio management process also helps to reduce potential conflicts of interest. However, securities selected for funds or accounts other than the Fund may outperform the securities selected for the Fund. Moreover, if a portfolio manager identifies a limited investment opportunity that may be suitable for more than one fund or other account, the Fund may not be able to take full advantage of that opportunity due to an allocation of that opportunity across all eligible funds and other accounts. The investment manager seeks to manage such potential

conflicts by using procedures intended to provide a fair allocation of buy and sell opportunities among funds and other accounts.

The structure of a portfolio manager’s compensation may give rise to potential conflicts of interest. A portfolio manager’s base pay and bonus tend to increase with additional and more complex responsibilities that include increased assets under management. As such, there may be an indirect relationship between a portfolio manager’s marketing or sales efforts and his or her bonus.

Finally, the management of personal accounts by a portfolio manager may give rise to potential conflicts of interest. While the funds and the investment manager have adopted a code of ethics which they believe contains provisions designed to prevent a wide range of prohibited activities by portfolio managers and others with respect to their personal trading activities, there can be no assurance that the code of ethics addresses all individual conduct that could result in conflicts of interest.

The investment manager and the Fund have adopted certain compliance procedures that are designed to address these, and other, types of conflicts. However, there is no guarantee that such procedures will detect each and every situation where a conflict arises.

Compensation. The investment manager seeks to maintain a compensation program that is competitively positioned to attract, retain and motivate top-quality investment professionals. Portfolio managers receive a base salary, a cash incentive bonus opportunity, an equity compensation opportunity, and a benefits package. Portfolio manager compensation is reviewed annually and the level of compensation is based on individual performance, the salary range for a portfolio manager’s level of responsibility and Franklin Templeton guidelines. Portfolio managers are provided no financial incentive to favor one fund or account over another. Each portfolio manager’s compensation consists of the following three elements:

Base salary Each portfolio manager is paid a base salary.

Annual bonus Annual bonuses are structured to align the interests of the portfolio manager with those of the Fund’s shareholders. Each portfolio manager is eligible to receive an annual bonus. Bonuses generally are split between cash (50% to 65%) and restricted shares of Resources stock (17.5% to 25%) and mutual fund shares (17.5% to 25%). The deferred equity-based compensation is intended to build a vested interest of the portfolio manager in the financial performance of both Resources and mutual funds advised by the investment manager. The bonus plan is intended to provide a competitive level of annual bonus compensation that is tied to the portfolio manager achieving consistently strong investment performance, which aligns the financial incentives of the portfolio manager and Fund shareholders. The Chief Investment Officer of the investment manager and/or other officers of the investment manager, with responsibility for the Fund, have discretion in the granting of annual bonuses to portfolio managers in accordance with Franklin Templeton guidelines. The following factors are generally used in determining bonuses under the plan:

• Investment performance. Primary consideration is given to the historic investment performance of all accounts managed by the portfolio manager over the 1, 3 and 5 preceding years measured against risk benchmarks developed by the fixed income management team. The pre-tax performance of

each fund managed is measured relative to a relevant peer group and/or applicable benchmark as appropriate.

• Non-investment performance. The more qualitative contributions of the portfolio manager to the investment manager’s business and the investment management team, including business knowledge, productivity, customer service, creativity, and contribution to team goals, are evaluated in determining the amount of any bonus award.

• Responsibilities. The characteristics and complexity of funds managed by the portfolio manager are factored in the investment manager’s appraisal.

Additional long-term equity-based compensation Portfolio managers may also be awarded restricted shares or units of Resources stock or restricted shares or units of one or more mutual funds. Awards of such deferred equity-based compensation typically vest over time, so as to create incentives to retain key talent.

Portfolio managers also participate in benefit plans and programs available generally to all employees of the investment manager.

Ownership of Fund shares. The investment manager has a policy of encouraging portfolio managers to invest in the funds they manage. Exceptions arise when, for example, a fund is closed to new investors or when tax considerations or jurisdictional constraints cause such an investment to be inappropriate for the portfolio manager. The following is the dollar range of Fund shares beneficially owned by the portfolio managers (such amounts may change from time to time):

Portfolio Manager	Dollar Range of Fund Shares Beneficially Owned
Michael Hasenstab	$1 - $10,001
Calvin Ho	None

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.     N/A

Item 10. Submission of Matters to a Vote of Security Holders.

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.

Item 11. Controls and Procedures.

(a) Evaluation of Disclosure Controls and Procedures. The Registrant maintains disclosure controls and procedures that are designed to provide reasonable assurance that information required to be disclosed in the Registrant’s filings under the Securities Exchange Act of 1934, as amended, and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant’s management, including its principal executive officer and

principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant’s management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives.

Within 90 days prior to the filing date of this Shareholder Report on Form N-CSR, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant’s management, including the Registrant’s principal executive officer and the Registrant’s principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on such evaluation, the Registrant’s principal executive officer and principal financial officer concluded that the Registrant’s disclosure controls and procedures are effective.

(b) Changes in Internal Controls. There have been no changes in the Registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect the internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Company.     N/A

Item 13. Exhibits.

(a)(1) Code of Ethics

(a)(2) Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of Matthew T. Hinkle, Chief Executive Officer - Finance and Administration, and Robert G. Kubilis, Chief Financial Officer and Chief Accounting Officer

(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of Matthew T. Hinkle, Chief Executive Officer - Finance and Administration, and Robert G. Kubilis, Chief Financial Officer and Chief Accounting Officer

SIGNATURES

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, thereunto duly authorized.

TEMPLETON GLOBAL INCOME FUND

By	S\ MATTHEW T. HINKLE
	Matthew T. Hinkle
	Chief Executive Officer – Finance and Administration
Date February 28, 2020

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\ MATTHEW T. HINKLE
	Matthew T. Hinkle
	Chief Executive Officer – Finance and Administration
Date February 28, 2020
By	S\ ROBERT G. KUBILIS
	Robert G. Kubilis
	Chief Financial Officer and Chief Accounting Officer
Date February 28, 2020

EX-99.CODE

Code of Ethics for Principal Executives & Senior Financial Officers

Procedures Revised December 10, 2018  

FRANKLIN TEMPLETON FUNDS

CODE OF ETHICS FOR PRINCIPAL EXECUTIVES AND

SENIOR FINANCIAL OFFICERS

I. Covered Officers and Purpose of the Code

This code of ethics (the “Code”) applies to the Principal Executive Officers, Principal Financial Officer and Principal Accounting Officer (the “Covered Officers,” each of whom is set forth in Exhibit A) of each investment company advised by a Franklin Resources subsidiary and that is registered with the United States Securities & Exchange Commission (“SEC”) (collectively, “FT Funds”) for the purpose of promoting:

• Honest and ethical conduct, including the ethical resolution of actual or apparent conflicts of interest between personal and professional relationships;

• Full, fair, accurate, timely and understandable disclosure in reports and documents that a registrant files with, or submits to, the SEC and in other public communications made by or on behalf of the FT Funds;

• Compliance with applicable laws and governmental rules and regulations;

• The prompt internal reporting of violations of the Code to an appropriate person or persons identified in the Code; and

• Accountability for adherence to the Code.

Each Covered Officer will be expected to adhere to a high standard of business ethics and must be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

* Rule 38a-1 under the Investment Company Act of 1940 (“1940 Act”) and Rule 206(4)-7 under the Investment Advisers Act of 1940 (“Advisers Act”) (together the “Compliance Rule”) require registered investment companies and registered investment advisers to, among other things, adopt and implement written policies and procedures reasonably designed to prevent violations of the federal securities laws (“Compliance Rule Policies and Procedures”).

CONFIDENTIAL INFORMATION. This document is the proprietary product of Franklin Templeton Investments. It may NOT be distributed outside the company unless it is made subject to a non-disclosure agreement and/or such release receives authorization by an FTI Chief Compliance Officer. Any unauthorized use, reproduction or transfer of this document is strictly prohibited. Franklin Templeton Investments © 2014. All Rights Reserved.

FTI Compliance Procedures Standards of Business Conduct

II. Other Policies and Procedures

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder.

Franklin Resources, Inc. has separately adopted the Code of Ethics and Business Conduct (“Business Conduct”), which is applicable to all officers, directors and employees of Franklin Resources, Inc., including Covered Officers. It summarizes the values, principles and business practices that guide the employee’s business conduct and also provides a set of basic principles to guide officers, directors and employees regarding the minimum ethical requirements expected of them. It supplements the values, principles and business conduct identified in the Code and other existing employee policies.

Additionally, the Franklin Templeton Funds have separately adopted the FTI Personal Investments and Insider Trading Policy governing personal securities trading and other related matters. The Code for Insider Trading provides for separate requirements that apply to the Covered Officers and others, and therefore is not part of this Code.

Insofar as other policies or procedures of Franklin Resources, Inc., the Funds, the Funds’ adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superceded by this Code to the extent that they overlap or conflict with the provisions of this Code. Please review these other documents or consult with the Legal Department if have questions regarding the applicability of these policies to you.

III. Covered Officers Should Handle Ethically Actual and Apparent Conflicts of Interest

Overview. A “conflict of interest” occurs when a Covered Officer’s private interest interferes with the interests of, or his or her service to, the FT Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of apposition with the FT Funds.

Certain conflicts of interest arise out of the relationships between Covered Officers and the FT Funds and already are subject to conflict of interest provisions in the Investment Company Act of 1940 (“Investment Company Act”) and the Investment Advisers Act of 1940 (“Investment Advisers Act”). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the FT Funds because of their status as “affiliated persons” of the FT Funds. The FT Funds’ and the investment advisers’ compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the FT Funds, the investment advisers and the fund administrator of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the FT Funds, for the adviser, the administrator, or

2

FTI Compliance Procedures Standards of Business Conduct

for all three), be involved in establishing policies and implementing decisions that will have different effects on the adviser, administrator and the FT Funds. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the FT Funds, the adviser, and the administrator and is consistent with the performance by the Covered Officers of their duties as officers of the FT Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the FT Funds’ Boards of Directors (“Boards”) that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the FT Funds.

Each Covered Officer must:

• Not use his or her personal influence or personal relationships improperly to influence investment decisions or financial reporting by the FT Funds whereby the Covered Officer would benefit personally to the detriment of the FT Funds;

• Not cause the FT Funds to take action, or fail to take action, for the individual personal benefit of the Covered Officer rather than the benefit the FT Funds;

• Not retaliate against any other Covered Officer or any employee of the FT Funds or their affiliated persons for reports of potential violations that are made in good faith;

• Report at least annually the following affiliations or other relationships:¹

• all directorships for public companies and all companies that are required to file reports with the SEC;

• any direct or indirect business relationship with any independent directors of the FT Funds;

• any direct or indirect business relationship with any independent public accounting firm (which are not related to the routine issues related to the firm’s service as the Covered Persons accountant); and

• any direct or indirect interest in any transaction with any FT Fund that will benefit the officer (not including benefits derived from the advisory, sub-advisory, distribution or service agreements with affiliates of Franklin Resources).

These reports will be reviewed by the Legal Department for compliance with the Code.

There are some conflict of interest situations that should always be approved in writing by Franklin Resources General Counsel or Deputy General Counsel, if material. Examples of these include²:

• Service as a director on the board of any public or private Company.

¹  Reporting of these affiliations or other relationships shall be made by completing the annual Directors and Officers Questionnaire and returning the questionnaire to Franklin Resources Inc, General Counsel or Deputy General Counsel.

²  Any activity or relationship that would present a conflict for a Covered Officer may also present a conflict for the Covered Officer if a member of the Covered Officer’s immediate family engages in such an activity or has such a relationship. The Cover Person should also obtain written approval by FT’s General Counsel in such situations.

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FTI Compliance Procedures Standards of Business Conduct

• The receipt of any gifts in excess of $100 from any person, from any corporation or association.

• The receipt of any entertainment from any Company with which the FT Funds has current or prospective business dealings unless such entertainment is business related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of impropriety. Notwithstanding the foregoing, the Covered Officers must obtain prior approval from the Franklin Resources General Counsel for any entertainment with a value in excess of $1000.

• Any ownership interest in, or any consulting or employment relationship with, any of the FT Fund’s service providers, other than an investment adviser, principal underwriter, administrator or any affiliated person thereof.

• A direct or indirect financial interest in commissions, transaction charges or spreads paid by the FT Funds for effecting portfolio transactions or for selling or redeeming shares other than an interest arising from the Covered Officer’s employment, such as compensation or equity ownership.

• Franklin Resources General Counsel or Deputy General Counsel will provide a report to the FT Funds Audit Committee of any approvals granted at the next regularly scheduled meeting.

IV. Disclosure and Compliance

• Each Covered Officer should familiarize himself with the disclosure requirements generally applicable to the FT Funds;

• Each Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts about the FT Funds to others, whether within or outside the FT Funds, including to the FT Funds’ directors and auditors, and to governmental regulators and self-regulatory organizations;

• Each Covered Officer should, to the extent appropriate within his or her area of responsibility, consult with other officers and employees of the FT Funds, the FT Fund’s adviser and the administrator with the goal of promoting full, fair, accurate, timely and understandable disclosure in the reports and documents the FT Funds file with, or submit to, the SEC and in other public communications made by the FT Funds; and

• It is the responsibility of each Covered Officer to promote compliance with the standards and restrictions imposed by applicable laws, rules and regulations.

V. Reporting and Accountability

Each Covered Officer must:

• Upon becoming a covered officer affirm in writing to the Board that he or she has received, read, and understands the Code (see Exhibit B);

• Annually thereafter affirm to the Board that he has complied with the requirements of the Code; and

• Notify Franklin Resources’ General Counsel or Deputy General Counsel promptly if he or she knows of any violation of this Code. Failure to do so is itself is a violation of this Code.

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FTI Compliance Procedures Standards of Business Conduct

Franklin Resources’ General Counsel and Deputy General Counsel are responsible for applying this Code to specific situations in which questions are presented under it and have the authority to interpret this Code in any particular situation.³ However, the Independent Directors of the respective FT Funds will consider any approvals or waivers⁴ sought by any Chief Executive Officers of the Funds.

The FT Funds will follow these procedures in investigating and enforcing this Code:

• Franklin Resources General Counsel or Deputy General Counsel will take all appropriate action to investigate any potential violations reported to the Legal Department;

• If, after such investigation, the General Counsel or Deputy General Counsel believes that no violation has occurred, The General Counsel is not required to take any further action;

• Any matter that the General Counsel or Deputy General Counsel believes is a violation will be reported to the Independent Directors of the appropriate FT Fund;

• If the Independent Directors concur that a violation has occurred, it will inform and make a recommendation to the Board of the appropriate FT Fund or Funds, which will consider appropriate action, which may include review of, and appropriate modifications to, applicable policies and procedures; notification to appropriate personnel of the investment adviser or its board; or a recommendation to dismiss the Covered Officer;

• The Independent Directors will be responsible for granting waivers, as appropriate; and

• Any changes to or waivers of this Code will, to the extent required, are disclosed as provided by SEC rules.⁵

VI. Other Policies and Procedures

This Code shall be the sole code of ethics adopted by the FT Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the FT Funds, the FT Funds’ advisers, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The FTI Personal Investments and Insider Trading Policy, adopted by the FT Funds, FT investment advisers and FT Fund’s principal underwriter pursuant to Rule 17j-1 under the Investment Company Act, the Code of Ethics and Business Conduct and more detailed policies and procedures set forth in FT’s Employee Handbook are separate requirements applying to the Covered Officers and others, and are not part of this Code.

³  Franklin Resources General Counsel and Deputy General Counsel are authorized to consult, as appropriate, with members of the Audit Committee, counsel to the FT Funds and counsel to the Independent Directors, and are encouraged to do so.

⁴  Item 2 of Form N-CSR defines “waiver” as “the approval by the registrant of a material departure from a provision of the code of ethics” and “implicit waiver,” which must also be disclosed, as “the registrant’s failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer” of the registrant. See Part X.

⁵ See Part X.

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FTI Compliance Procedures Standards of Business Conduct

VII. Amendments

Any amendments to this Code, other than amendments to Exhibit A, must be approved or ratified by a majority vote of the FT Funds’ Board including a majority of independent directors.

VIII. Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the FT Funds’ Board and their counsel.

IX. Internal Use

The Code is intended solely for the internal use by the FT Funds and does not constitute an admission, by or on behalf of any FT Funds, as to any fact, circumstance, or legal conclusion.

X. Disclosure on Form N-CSR

Item 2 of Form N-CSR requires a registered management investment company to disclose annually whether, as of the end of the period covered by the report, it has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these officers are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, it must explain why it has not done so.

The registrant must also: (1) file with the SEC a copy of the code as an exhibit to its annual report; (2) post the text of the code on its Internet website and disclose, in its most recent report on Form N-CSR, its Internet address and the fact that it has posted the code on its Internet website; or (3) undertake in its most recent report on Form N-CSR to provide to any person without charge, upon request, a copy of the code and explain the manner in which such request may be made. Disclosure is also required of amendments to, or waivers (including implicit waivers) from, a provision of the code in the registrant’s annual report on Form N-CSR or on its website. If the registrant intends to satisfy the requirement to disclose amendments and waivers by posting such information on its website, it will be required to disclose its Internet address and this intention.

The Legal Department shall be responsible for ensuring that:

• a copy of the Code is filed with the SEC as an exhibit to each Fund’s annual report; and

• any amendments to, or waivers (including implicit waivers) from, a provision of the Code is disclosed in the registrant’s annual report on Form N-CSR.

In the event that the foregoing disclosure is omitted or is determined to be incorrect, the Legal Department shall promptly file such information with the SEC as an amendment to Form N-CSR.

In such an event, the Fund Chief Compliance Officer shall review the Code and propose such changes to the Code as are necessary or appropriate to prevent reoccurrences.

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FTI Compliance Procedures Standards of Business Conduct

EXHIBIT A

Persons Covered by the Franklin Templeton Funds

Code of Ethics

December 2018

FRANKLIN GROUP OF FUNDS

Edward Perks	President and Chief Executive Officer – Investment Management
Rupert H. Johnson, Jr.	Chairman of the Board and Vice President – Investment Management
Don Taylor	President and Chief Executive Officer – Investment Management
Sonal Desai)	President and Chief Executive Officer – Investment Management
Matthew Hinkle	Chief Executive Officer – Finance and Administration
Gaston R. Gardey	Chief Financial Officer and Chief Accounting Officer and Treasurer

FRANKLIN MUTUAL SERIES FUNDS

Peter Langerman	Chief Executive Officer – Investment Management
Matthew Hinkle	Chief Executive Officer – Finance and Administration
Robert G. Kubilis	Chief Financial Officer and Chief Accounting Officer

FRANKLIN ALTERNATIVE STRATEGIES FUNDS

Mat S. Gulley	Chief Executive Officer – Investment Management
Matthew Hinkle	Chief Executive Officer – Finance and Administration
Robert G. Kubilis	Chief Financial Officer and Chief Accounting Officer

TEMPLETON GROUP OF FUNDS

Manraj S. Sekhon	President and Chief Executive Officer – Investment Management
Michael Hasenstab, Ph.D.	President and Chief Executive Officer – Investment Management
Norman Boersma	President and Chief Executive Officer – Investment Management
Matthew Hinkle	Chief Executive Officer – Finance and Administration
Robert G. Kubilis	Chief Financial Officer, Chief Accounting Officer and Treasurer

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FTI Compliance Procedures Standards of Business Conduct

Exhibit B

ACKNOWLEDGMENT FORM

Franklin Templeton Funds Code of Ethics

For Principal Executives and Senior Financial Officers

Instructions:

1. Complete all sections of this form.

2. Print the completed form, sign, and date.

3. Submit completed form to FT’s General Counsel c/o Code of Ethics Administration within 10 days of becoming a Covered Officer and by February 15th of each subsequent year.

Inter-office mail:	Code of Ethics Administration, Global Compliance SM-920/2
Fax:	(650) 312-5646
E-mail:	Code of Ethics Inquiries & Requests (internal address);
	lpreclear@franklintempleton.com (external address)

Covered Officer’s Name:

Title:

Department:

Location:

Certification for Year Ending:

To: Franklin Resources General Counsel, Legal Department

I acknowledge receiving, reading and understanding the Franklin Templeton Fund’s Code of Ethics for Principal Executive Officers and Senior Financial Officers (the “Code”). I will comply fully with all provisions of the Code to the extent they apply to me during the period of my employment. I further understand and acknowledge that any violation of the Code may subject me to disciplinary action, including termination of employment.

Signature Date signed

8

EX-99.CERT

Exhibit 13 (a) (2)

I, Matthew T. Hinkle, certify that:

1. I have reviewed this report on Form N-CSR of Templeton Global Income Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

2/28/2020

S\ MATTHEW T. HINKLE

Matthew T. Hinkle

Chief Executive Officer - Finance and Administration

Exhibit 13 (a) (2)

I, Robert G. Kubilis, certify that:

1. I have reviewed this report on Form N-CSR of Templeton Global Income Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

2/28/2020

S\ ROBERT G. KUBILIS

Robert G. Kubilis

Chief Financial Officer and Chief Accounting Officer

EX-99.906CE

Exhibit 13 (b)

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

I, Matthew T. Hinkle, Chief Executive Officer of the Templeton Global Income Fund (the “Registrant”), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

1. The periodic report on Form N-CSR of the Registrant for the period ended 12/31/2019 (the “Form N-CSR”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated: 2/28/2020

S\ MATTHEW T. HINKLE

Matthew T. Hinkle

Chief Executive Officer - Finance and Administration

Exhibit 13 (b)

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

I, Robert G. Kubilis, Chief Financial Officer of the Templeton Global Income Fund (the “Registrant”), certify, pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge:

1. The periodic report on Form N-CSR of the Registrant for the period ended 12/31/2019 (the “Form N-CSR”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated: 2/28/2020

S\ ROBERT G. KUBILIS

Robert G. Kubilis

Chief Financial Officer and Chief Accounting Officer