N-CSRS

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-CSRS

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)

Alison Baur, 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: 6/30/22  

Item 1. Reports to Stockholders.

a.)

The following is a copy of the report transmitted to shareholders pursuant to Rule30e-1 under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30e-1.)

b.)

Include a copy of each notice transmitted to stockholders in reliance on Rule 30e-3 under the Act (17 CFR 270.30e-3) that contains disclosures specified by paragraph (c)(3) of that rule.

Not Applicable

.

Semiannual

Report

Templeton

Global

Income

Fund

June

30,

2022

Managed

Distribution

Policy

:

The

Fund’s

Board

of

Trustees

(the

“Board”)

has

authorized

a

managed

distribution

plan

pursuant

to

which

the

Fund

makes

monthly

distributions

to

shareholders

at

an

annual

minimum

fixed

rate

of

8%,

based

on

the

average

monthly

net

asset

value

(NAV)

of

the

Fund’s

common

shares

(the

“Plan”).

Effective

March

7,

2022,

the

annual

minimum

fixed

rate

increased

from

7.5%

to

8%.

The

Fund

calculates

the

average

NAV

from

the

previous

month

based

on

the

number

of

business

days

in

the

month

on

which

the

NAV

is

calculated.

The

Plan

is

intended

to

provide

shareholders

with

a

constant,

but

not

guaranteed,

fixed

minimum

rate

of

distribution

each

month

and

is

intended

to

narrow

the

discount

between

the

market

price

and

the

NAV

of

the

Fund’s

common

shares,

but

there

can

be

no

assurance

that

the

Plan

will

be

successful

in

doing

so.

The

Fund

is

managed

with

a

goal

of

generating

as

much

of

the

distribution

as

possible

from

net

ordinary

income

and

short-term

capital

gains,

that

is

consistent

with

the

Fund’s

investment

strategy

and

risk

profile.

To

the

extent

that

sufficient

distributable

income

is

not

available

on

a

monthly

basis,

the

Fund

will

distribute

long-term

capital

gains

and/or

return

of

capital

in

order

to

maintain

its

managed

distribution

rate.

A

return

of

capital

may

occur,

for

example,

when

some

or

all

of

the

money

that

was

invested

in

the

Fund

is

paid

back

to

shareholders.

A

return

of

capital

distribution

does

not

necessarily

reflect

the

Fund’s

investment

performance

and

should

not

be

confused

with

“yield”

or

“income”.

Even

though

the

Fund

may

realize

current

year

capital

gains,

such

gains

may

be

offset,

in

whole

or

in

part,

by

the

Fund’s

capital

loss

carryovers

from

prior

years.

The

Board

may

amend

the

terms

of

the

Plan

or

terminate

the

Plan

at

any

time

without

prior

notice

to

the

Fund’s

shareholders,

however,

at

this

time

there

are

no

reasonably

foreseeable

circumstances

that

might

cause

the

termination

of

the

Plan.

The

amendment

or

termination

of

the

Plan

could

have

an

adverse

effect

on

the

market

price

of

the

Fund’s

common

shares.

The

Plan

will

be

subject

to

the

periodic

review

by

the

Board,

including

a

yearly

review

of

the

annual

minimum

fixed

rate

to

determine

if

an

adjustment

should

be

made.

Shareholders

should

not

draw

any

conclusions

about

the

Fund’s

investment

performance

from

the

amount

of

this

distribution

or

from

the

terms

of

the

Plan.

The

Fund

will

send

a

Form

1099-DIV

to

shareholders

for

the

calendar

year

that

will

describe

how

to

report

the

Fund’s

distributions

for

federal

income

tax

purposes.

Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

franklintempleton.com

Semiannual

Report

1

Contents

Semiannual

Report

Templeton

Global

Income

Fund

2

Performance

Summary

5

Financial

Highlights

and

Schedule

of

Investments

8

Financial

Statements

15

Notes

to

Financial

Statements

18

Important

Information

to

Shareholders

30

Annual

Meeting

of

Shareholders

32

Dividend

Reinvestment

and

Cash

Purchase

Plan

33

Shareholder

Information

35

Visit

franklintempleton.com

for

fund

updates

and

documents,

or

to

find

helpful

financial

planning

tools.

2

franklintempleton.com

Semiannual

Report

SEMIANNUAL

REPORT

Templeton

Global

Income

Fund

Dear

Shareholder:

This

semiannual

report

for

Templeton

Global

Income

Fund

covers

the

period

ended

June

30,

2022

.

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.

For

purposes

of

the

Fund’s

80%

policy,

income-producing

securities

include

derivative

instruments

or

other

investments

that

have

economic

characteristics

similar

to

such

securities.

Performance

Overview

For

the

six

months

under

review,

the

Fund

posted

cumulative

total

returns

of

-11.21%

based

on

market

price

and

-9.38%

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

-14.14%

in

U.S.

dollar

terms

for

the

same

period.

1

You

can

find

the

Fund’s

long-term

performance

data

in

the

Performance

Summary

beginning

on

page

5

.

The

Fund

has

a

managed

distribution

plan

pursuant

to

which

the

Fund

makes

monthly

distributions

to

shareholders

at

an

annual

minimum

fixed

rate

of

8%,

based

on

the

average

monthly

net

asset

value

of

the

Fund’s

common

shares

(the

“Plan”).

The

Plan

has

no

impact

on

the

Fund’s

investment

strategy

and

may

reduce

the

Fund’s

net

asset

value.

The

Fund’s

investment

manager

believes

the

Plan

helps

maintain

the

Fund’s

competitiveness

and

may

benefit

the

Fund’s

market

price

and

premium/discount

to

the

Fund’s

net

asset

value.

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

The

six-month

period

ended

June

30,

2022,

was

characterized

by

challenges

to

the

global

economy

in

the

form

of

the

lingering

economic

impact

of

COVID-19,

the

start

of

Russia’s

war

on

Ukraine,

commodity-price

inflation,

rising

global

interest

rates,

weakening

global

gross

domestic

product

growth,

and

supply

chain

disruptions.

Risk

assets

faced

strong

headwinds

resulting

from

tighter

financial

conditions.

*Includes

U.S.

and

foreign

government

and

agency

securities,

money

market

funds

and

other

net

assets

(including

derivatives).

Sovereign

bond

yields

rose

across

most

of

the

world

as

many

major

central

banks

embarked

on

policy

rate

hikes

to

curb

inflation.

Inflation

reached

multi-decade

highs

during

the

period,

with

added

supply-side

pressures

coming

from

disruptions

to

the

flow

of

energy,

food,

commodities

and

goods

due

to

the

war

in

Ukraine

and

the

West’s

economic

isolation

of

Russia.

Supply

chain

disruptions

were

compounded

by

China’s

implementation

of

its

zero-COVID

policy.

Simultaneously,

global

economic

growth

was

projected

to

decelerate,

driven

by

the

disruption

of

economic

activity

and

trade

following

Russia’s

invasion

of

Ukraine,

including

a

reduction

in

Russia’s

exports

of

natural

gas

to

Germany,

the

economic

strains

of

refugee

flight

in

Europe,

volatile

and

elevated

commodity

prices,

continued

supply

chain

disruptions,

the

effect

of

COVID-19-related

lockdowns

in

China,

and

the

reduction

of

policy

support

post-COVID-19.

The

combination

of

above-average

inflation

and

below-

average

growth

raised

the

spectre

of

stagflation

reminiscent

of

the

1970s

and

created

a

policy

dilemma

for

many

central

bankers.

Portfolio

Composition

6/30/22

%

of

Total

Net

Assets

Foreign

Government

and

Agency

Securities

72.2%

Short-Term

Investments

&

Other

Net

Assets*

27.8%

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

Schedule

of

Investments

(SOI).

The

SOI

begins

on

page

9

.

Templeton

Global

Income

Fund

3

franklintempleton.com

Semiannual

Report

Over

the

period,

developed

market

sovereign

bond

yields

trended

higher

concurrently

with

falling

equity

prices

and

strength

in

the

U.S.

dollar.

On

the

monetary

front,

the

first

half

of

2022

marked

the

end

of

pandemic-era

monetary

accommodation

by

the

U.S.

Federal

Reserve.

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

In

bonds,

we

continued

to

maintain

low

portfolio

duration,

while

aiming

at

a

high

overall

portfolio

yield

by

holding

compelling

risk-adjusted

yields

in

various

local-currency

bond

markets,

specifically

in

countries

with

resilient

economies

and

strong

trade

dynamics.

We

were

significantly

underweight

developed

market

duration

in

the

U.S.

and

the

euro

area,

with

a

preference

for

the

higher

yields

available

in

select

emerging

market

local-currency

bonds,

notably

including

Indonesia,

India,

Thailand,

Brazil,

and

Colombia.

We

closed

our

local-currency

positions

in

Egypt

and

Turkey

and

added

new

U.S.

dollar

(USD)-denominated

sovereign

credit

exposures

in

Africa,

Latin

America

and

Asia.

During

the

period,

we

used

interest-rate

swaps

to

actively

manage

duration

exposures.

At

the

beginning

of

the

period,

the

Fund

was

overweight

in

specific

currencies

against

the

USD

and

the

euro.

In

Asia,

we

held

notable

exposures

to

the

South

Korean

won,

the

Chinese

yuan,

the

Indonesian

rupiah,

the

Indian

rupee

and

the

Singapore

dollar,

while

holding

an

underweight

in

the

Japanese

yen.

We

closed

our

exposure

to

the

Japanese

yen

in

March

2022,

thereby

going

further

underweight,

primarily

due

to

expected

depreciation

pressures

on

the

currency

from

widening

rate

differentials

with

the

U.S.

In

April,

we

exited

our

underweight

position

in

the

Australian

dollar

which

had

been

used

to

hedge

against

emerging

market

beta

risks,

as

we

anticipated

rising

commodity

prices

to

boost

Australia’s

terms

of

trade

and

support

its

currency.

In

EMEA

(Europe,

Middle

East

and

Africa),

the

Fund

held

overweight

positions

in

the

Norwegian

krone,

the

Swedish

krona

and

the

British

pound

against

the

euro.

We

added

a

position

in

the

British

pound

against

the

euro

in

April

due

to

expected

monetary

policy

divergences

between

the

Bank

of

England

and

the

European

Central

Bank.

We

closed

our

exposure

to

the

Russian

ruble.

In

the

Americas,

we

held

long

exposures

to

the

Brazilian

real

and

the

Colombian

peso

against

the

USD,

and

long

exposure

to

the

Canadian

dollar

against

the

euro.

During

the

period,

we

used

currency

forwards

to

actively

manage

currency

exposures.

During

the

period,

the

Fund’s

negative

absolute

performance

was

primarily

due

to

currency

positions,

followed

by

sovereign

credit

exposures

and

interest-rate

strategies.

Among

currencies,

positions

in

the

South

Korean

won

and

Indian

rupee

detracted

from

absolute

performance,

as

did

the

Russian

ruble

which

was

held

earlier

in

the

period.

However,

the

Fund’s

position

in

the

Brazilian

real

was

a

positive

contributor

to

absolute

results.

Its

position

in

the

Canadian

dollar

against

the

euro

also

contributed

to

absolute

performance.

The

Fund

maintained

a

defensive

approach

regarding

interest-rates

in

developed

markets,

while

holding

duration

exposures

in

select

emerging

markets.

The

Fund’s

duration

exposure

in

Brazil

detracted

from

absolute

results.

On

a

relative

basis,

the

Fund’s

performance

fared

better

than

that

of

its

benchmark

index

due

to

interest-rate

strategies,

currency

positions

had

a

largely

neutral

effect

on

relative

results,

while

sovereign

credit

exposure

detracted

from

relative

performance.

Underweighted

duration

exposures

in

the

U.S.

and

the

U.K.

contributed

to

relative

performance,

as

did

lack

of

duration

exposures

in

the

euro

area.

Among

currencies,

the

Fund’s

underweighted

exposure

to

the

euro

contributed

to

relative

performance,

as

did

its

underweighted

position

in

the

Japanese

yen

and

its

overweighted

position

in

the

Brazilian

real.

However,

overweighted

positions

in

the

South

Korean

won

and

Indian

rupee

detracted

from

relative

returns,

as

did

an

overweight

position

in

the

Russian

ruble

earlier

in

the

period.

Thank

you

for

your

continued

participation

in

Templeton

Global

Income

Fund.

We

look

forward

to

serving

your

future

investment

needs.

Geographic

Composition

6/30/22

%

of

Total

Net

Assets

Asia

Pacific

35.5%

Americas

21.5%

Other

Europe

10.5%

Middle

East

&

Africa

4.4%

Supranational

0.3%

Short-Term

Investments

&

Other

Net

Assets

27.8%

Templeton

Global

Income

Fund

4

franklintempleton.com

Semiannual

Report

Sincerely,

Michael

Hasenstab,

Ph.D.

Lead

Portfolio

Manager

Calvin

Ho,

Ph.D.

Portfolio

Manager

The

foregoing

information

reflects

our

analysis,

opinions

and

portfolio

holdings

as

of

June

30,

2022,

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.

Performance

Summary

as

of

June

30,

2022

Templeton

Global

Income

Fund

5

franklintempleton.com

Semiannual

Report

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

tables

and

graph

do

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

6/30/22

1

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.

Share

Prices

Cumulative

Total

Return

2

Average

Annual

Total

Return

2

Based

on

NAV

3

Based

on

market

price

4

Based

on

NAV

3

Based

on

market

price

4

6-Month

-9.38%

-11.21%

-9.38%

-11.21%

1-Year

-11.80%

-14.37%

-11.80%

-14.37%

5-Year

-16.47%

-11.58%

-3.54%

-2.43%

10-Year

-1.43%

-7.47%

-0.14%

-0.77%

Symbol:

GIM

6/30/22

12/31/21

Change

Net

Asset

Value

(NAV)

$4.75

$5.46

-$0.71

Market

Price

(NYSE)

$4.41

$5.19

-$0.78

Distributions

(1/1/22–6/30/22)

Net

Investment

Income

$0.2117

See

page

7

for

Performance

Summary

footnotes.

Templeton

Global

Income

Fund

Performance

Summary

6

franklintempleton.com

Semiannual

Report

See

page

7

for

Performance

Summary

footnotes.

Total

Return

Index

Comparison

for

a

Hypothetical

$10,000

Investment

1

Total

return

represents

the

change

in

value

of

an

investment

over

the

periods

shown.

It

includes

any

applicable

maximum

sales

charge,

Fund

expenses,

account

fees

and

reinvested

distributions.

The

unmanaged

index

includes

reinvestment

of

any

income

or

distributions.

It

differs

from

the

Fund

in

composition

and

does

not

pay

management

fees

or

expenses.

One

cannot

invest

directly

in

an

index.

(1/1/12–12/31/21

)

Templeton

Global

Income

Fund

Performance

Summary

7

franklintempleton.com

Semiannual

Report

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.

Events

such

as

the

spread

of

deadly

diseases,

disasters,

and

financial,

political

or

social

disruptions,

may

heighten

risks

and

adversely

affect

performance.

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

re-

cordkeeping

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

se-

curities

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

interpre-

tation

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.

Russia’s

military

invasion

of

Ukraine

in

February

2022,

the

resulting

responses

by

the

United

States

and

other

countries,

and

the

potential

for

wider

conflict

could

increase

volatility

and

uncertainty

in

the

financial

markets

and

adversely

affect

regional

and

global

economies.

The

United

States

and

other

countries

have

im-

posed

broad-ranging

economic

sanctions

on

Russia

and

certain

Russian

individuals,

banking

entities

and

corporations

as

a

response

to

its

invasion

of

Ukraine.

The

United

States

and

other

countries

have

also

imposed

economic

sanctions

on

Belarus

and

may

impose

sanctions

on

other

countries

that

support

Russia’s

military

invasion.

These

sanctions,

as

well

as

any

other

economic

consequences

related

to

the

invasion,

such

as

additional

sanctions,

boycotts

or

changes

in

consumer

or

purchaser

preferences

or

cyberattacks

on

governments,

companies

or

individuals,

may

further

decrease

the

value

and

liquidity

of

certain

Russian

securities

and

securities

of

issuers

in

other

countries

that

are

subject

to

economic

sanctions

related

to

the

invasion.

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

2/28/23.

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.

5.

Source:

Morningstar.

The

JPM

GGBI

tracks

total

returns

for

liquid,

fixed-rate,

domestic

government

bonds

with

maturities

greater

than

one

year

issued

by

developed

countries

globally.

See

www.franklintempletondatasources.com

for

additional

data

provider

information.

Templeton

Global

Income

Fund

Financial

Highlights

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

8

a

Six

Months

Ended

June

30,

2022

(unaudited)

Year

Ended

December

31,

2021

2020

2019

2018

2017

Per

share

operating

performance

(for

a

share

outstanding

throughout

the

period)

Net

asset

value,

beginning

of

period

.....

$5.46

$6.11

$6.75

$7.04

$7.25

$7.34

Income

from

investment

operations:

Net

investment

income

a

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

0.09

0.21

0.21

0.38

0.37

0.36

Net

realized

and

unrealized

gains

(losses)

(0.59)

(0.51)

(0.63)

(0.26)

(0.23)

(0.16)

Total

from

investment

operations

........

(0.50)

(0.30)

(0.42)

0.12

0.14

0.20

Less

distributions

from:

Net

investment

income

and

net

foreign

currency

gains

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

(0.21)

—

(0.03)

(0.41)

(0.26)

(0.29)

Tax

return

of

capital

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

—

(0.37)

(0.19)

—

(0.09)

—

Total

distributions

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

(0.21)

(0.37)

(0.22)

(0.41)

(0.35)

(0.29)

Repurchase

of

shares

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

—

b

0.02

—

—

—

—

Net

asset

value,

end

of

period

..........

$4.75

$5.46

$6.11

$6.75

$7.04

$7.25

Market

value,

end

of

period

c

...........

$4.41

$5.19

$5.50

$6.13

$6.03

$6.46

Total

return

(based

on

net

asset

value

per

share)

d

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

(9.38)%

(4.62)%

(6.56)%

1.97%

1.98%

2.67%

Total

return

(based

on

market

value

per

share)

d

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

(11.21)%

1.02%

(6.63)%

8.52%

(1.24)%

4.10%

Ratios

to

average

net

assets

e

Expenses

before

waiver

and

payments

by

affiliates

and

expense

reduction

........

0.95%

1.01%

0.75%

0.75%

0.79%

0.76%

Expenses

net

of

waiver

and

payments

by

affiliates

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

0.88%

1.00%

0.71%

0.67%

0.71%

0.70%

Expenses

net

of

waiver

and

payments

by

affiliates

and

expense

reduction

........

0.88%

1.00%

0.71%

0.67%

0.71%

f

0.69%

Net

investment

income

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

3.57%

3.64%

3.36%

5.49%

5.18%

4.84%

Supplemental

data

Net

assets,

end

of

period

(000’s)

........

$488,136

$561,163

$819,181

$905,378

$944,988

$972,791

Portfolio

turnover

rate

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

26.47%

115.48%

42.51%

21.99%

35.47%

42.34%

a

Based

on

average

daily

shares

outstanding.

b

Amount

rounds

to

less

than

$0.01

per

share.

c

Based

on

the

last

sale

on

the

New

York

Stock

Exchange.

d

The

Market

Value

Total

Return

is

calculated

assuming

a

purchase

of

common

shares

on

the

opening

of

the

first

business

day

and

a

sale

on

the

closing

of

the

last

business

day

of

each

period.

Dividends

and

distributions

are

assumed

for

the

purposes

of

this

calculation

to

be

reinvested

at

prices

obtained

under

the

Fund's

Dividend

Reinvestment

and

Cash

Purchase

Plan.

Net

Asset

Value

Total

Return

is

calculated

on

the

same

basis,

except

that

the

Fund's

net

asset

value

is

used

on

the

purchase,

sale

and

dividend

reinvestment

dates

instead

of

market

value.

Total

return

does

not

reflect

brokerage

commissions

or

sales

charges

in

connection

with

the

purchase

or

sale

of

Fund

shares.

Total

return

is

not

annualized

for

periods

less

than

one

year.

e

Ratios

are

annualized

for

periods

less

than

one

year.

f

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Templeton

Global

Income

Fund

Schedule

of

Investments

(unaudited),

June

30,

2022

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

9

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

72.2%

Argentina

0.1%

Argentina

Government

Bond,

15.5%,

10/17/26

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

512,895,000

ARS

$

600,098

Brazil

9.6%

Brazil

Notas

do

Tesouro

Nacional

,

10%,

1/01/25

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

50,000,000

BRL

9,019,659

10%,

1/01/27

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

36,560,000

BRL

6,361,513

10%,

1/01/29

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

9,230,000

BRL

1,551,070

10%,

1/01/31

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

181,760,000

BRL

29,734,055

46,666,297

China

4.7%

China

Government

Bond

,

2.93%,

12/10/22

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

60,250,000

CNY

9,036,786

2.56%,

10/21/23

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

92,200,000

CNY

13,836,882

22,873,668

Colombia

6.8%

Colombia

Titulos

de

Tesoreria

,

B,

10%,

7/24/24

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

4,422,000,000

COP

1,063,530

B,

6.25%,

11/26/25

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

36,550,000,000

COP

7,736,670

B,

7.5%,

8/26/26

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

55,340,300,000

COP

11,913,986

B,

5.75%,

11/03/27

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

11,877,000,000

COP

2,266,105

B,

6%,

4/28/28

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

30,965,000,000

COP

5,865,803

B,

7.75%,

9/18/30

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

16,815,700,000

COP

3,293,873

B,

7%,

6/30/32

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

6,840,000,000

COP

1,223,084

33,363,051

Dominican

Republic

1.6%

a

Dominican

Republic

Government

Bond

,

Senior

Bond,

144A,

5.3%,

1/21/41

..

5,430,000

3,782,223

Senior

Bond,

144A,

6.4%,

6/05/49

..

1,220,000

914,430

Senior

Bond,

144A,

5.875%,

1/30/60

4,800,000

3,296,476

7,993,129

Ecuador

3.2%

a

Ecuador

Government

Bond

,

Senior

Bond,

144A,

1%,

7/31/35

....

21,006,000

10,166,512

Senior

Bond,

144A,

0.5%,

7/31/40

..

10,051,000

4,129,761

Senior

Note,

144A,

5%,

7/31/30

....

1,733,000

1,125,901

15,422,174

Egypt

2.5%

a

Egypt

Government

Bond

,

Senior

Bond,

144A,

7.625%,

5/29/32

1,030,000

677,447

Senior

Bond,

144A,

7.3%,

9/30/33

..

4,630,000

2,985,206

Senior

Bond,

144A,

8.5%,

1/31/47

..

5,360,000

3,191,542

Senior

Bond,

144A,

7.903%,

2/21/48

670,000

385,129

Senior

Bond,

144A,

8.7%,

3/01/49

..

510,000

306,010

Senior

Bond,

144A,

8.875%,

5/29/50

2,150,000

1,312,328

Senior

Bond,

144A,

8.75%,

9/30/51

.

4,310,000

2,608,382

Senior

Bond,

144A,

7.5%,

2/16/61

..

1,470,000

822,283

12,288,327

Ghana

1.1%

Ghana

Government

Bond

,

18.85%,

9/28/23

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

10,970,000

GHS

1,242,295

Templeton

Global

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

10

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Ghana

(continued)

Ghana

Government

Bond,

(continued)

19.75%,

3/25/24

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

8,520,000

GHS

$

938,996

19.25%,

6/23/25

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

7,340,000

GHS

733,900

19.75%,

3/15/32

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

15,680,000

GHS

1,265,411

Senior

Note,

18.3%,

3/02/26

......

11,230,000

GHS

1,045,991

5,226,593

India

9.6%

India

Government

Bond

,

7.27%,

4/08/26

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

79,000,000

INR

1,004,045

8.33%,

7/09/26

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

624,000,000

INR

8,213,736

7.26%,

1/14/29

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

1,500,000,000

INR

18,902,678

Senior

Bond,

5.77%,

8/03/30

......

1,650,000,000

INR

18,865,863

46,986,322

Indonesia

10.4%

Indonesia

Government

Bond

,

9%,

3/15/29

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

237,200,000,000

IDR

17,546,192

FR64,

6.125%,

5/15/28

..........

162,800,000,000

IDR

10,698,520

FR81,

6.5%,

6/15/25

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

154,312,000,000

IDR

10,632,742

FR86,

5.5%,

4/15/26

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

180,818,000,000

IDR

11,925,067

50,802,521

Mexico

0.2%

Mexican

Bonos

Desarr

Fixed

Rate,

M,

Senior

Bond,

8%,

12/07/23

........

17,050,000

MXN

831,693

Mongolia

1.0%

a

Mongolia

Government

Bond

,

Senior

Bond,

144A,

4.45%,

7/07/31

.

3,790,000

2,918,039

Senior

Note,

144A,

5.125%,

4/07/26

.

600,000

541,458

Senior

Note,

144A,

3.5%,

7/07/27

..

1,690,000

1,373,024

4,832,521

Norway

4.4%

a

Norway

Government

Bond

,

Senior

Bond,

144A,

Reg

S,

2%,

5/24/23

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

83,183,000

NOK

8,419,276

Senior

Bond,

144A,

Reg

S,

3%,

3/14/24

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

85,878,000

NOK

8,748,711

Senior

Bond,

144A,

Reg

S,

1.75%,

3/13/25

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

28,937,000

NOK

2,847,127

Senior

Bond,

144A,

Reg

S,

1.5%,

2/19/26

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

17,165,000

NOK

1,654,934

21,670,048

Oman

0.8%

a

Oman

Government

Bond,

Senior

Bond,

144A,

4.75%,

6/15/26

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

4,190,000

4,003,105

South

Korea

5.0%

Korea

Treasury

Bond

,

3%,

9/10/24

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

5,310,000,000

KRW

4,074,396

1.875%,

12/10/24

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

11,986,000,000

KRW

8,934,732

1.875%,

6/10/26

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

15,749,000,000

KRW

11,473,231

24,482,359

Templeton

Global

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

11

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Supranational

0.3%

b

Inter-American

Development

Bank,

Senior

Bond,

7.5%,

12/05/24

......

34,150,000

MXN

$

1,604,356

Sweden

4.6%

a

Sweden

Government

Bond,

144A,

Reg

S,

1.5%,

11/13/23

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

228,790,000

SEK

22,330,981

Thailand

4.8%

Thailand

Government

Bond

,

0.75%,

9/17/24

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

433,040,000

THB

11,987,096

1%,

6/17/27

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

224,500,000

THB

5,929,027

Senior

Note,

0.66%,

11/22/23

......

189,490,000

THB

5,314,599

23,230,722

United

Kingdom

1.5%

a

United

Kingdom

Gilt,

Reg

S,

0.125%,

1/31/23

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

5,962,000

GBP

7,194,841

Total

Foreign

Government

and

Agency

Securities

(Cost

$405,453,098)

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

352,402,806

Short

Term

Investments

25.0%

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

10.1%

Brazil

1.7%

c

Brazil

Letras

do

Tesouro

Nacional

,

1/01/25

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

58,000,000

BRL

8,196,439

Singapore

5.1%

c

Singapore

Treasury

Bills

,

9/09/22

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

19,600,000

SGD

14,050,612

9/16/22

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

5,380,000

SGD

3,855,049

1/24/23

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

10,010,000

SGD

7,115,594

25,021,255

United

Kingdom

3.3%

c

United

Kingdom

Treasury

Bills

,

7/11/22

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

3,730,000

GBP

4,538,360

7/25/22

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

1,900,000

GBP

2,310,844

8/01/22

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

3,030,000

GBP

3,684,454

10/24/22

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

4,602,000

GBP

5,573,814

16,107,472

Total

Foreign

Government

and

Agency

Securities

(Cost

$50,540,018)

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

49,325,166

U.S.

Government

and

Agency

Securities

11.1%

United

States

11.1%

c

U.S.

Treasury

Bills

,

7/21/22

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

3,510,000

3,508,031

8/25/22

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

37,400,000

37,318,291

9/29/22

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

13,400,000

13,345,228

54,171,550

Total

U.S.

Government

and

Agency

Securities

(Cost

$54,226,482)

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

54,171,550

Templeton

Global

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

12

Short

Term

Investments

(continued)

a

a

Industry

Shares

a

Value

a

a

a

a

a

a

Money

Market

Funds

3.8%

United

States

3.8%

d,e

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.895%

.........

18,546,691

$

18,546,691

Total

Money

Market

Funds

(Cost

$18,546,691)

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

18,546,691

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$123,313,191

)

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

122,043,407

a

a

a

Total

Investments

(Cost

$528,766,289)

97.2%

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

$474,446,213

Other

Assets,

less

Liabilities

2.8%

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

13,689,582

Net

Assets

100.0%

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

$488,135,795

a

a

a

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

a

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

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.

Regulation

S

securities

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

June

30,

2022,

the

aggregate

value

of

these

securities

was

$95,735,126,

representing

19.6%

of

net

assets.

b

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

c

The

security

was

issued

on

a

discount

basis

with

no

stated

coupon

rate.

d

See

Note

3(c)

regarding

investments

in

affiliated

management

investment

companies.

e

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Templeton

Global

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

13

At

June

30,

2022,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

1(c).

Forward

Exchange

Contracts

Currency

Counter-

party

a

Type

Quantity

Contract

Amount

*

Settlement

Date

Unrealized

Appreciation

Unrealized

Depreciation

a

a

a

a

a

a

a

a

OTC

Forward

Exchange

Contracts

Euro

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

SCNY

Buy

1,325,806

1,389,002

7/06/22

$

405

$

—

Euro

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

SCNY

Sell

1,325,806

1,503,649

7/06/22

114,243

—

Indian

Rupee

......

HSBK

Buy

96,812,500

1,263,673

7/11/22

—

(38,378)

Euro

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

DBAB

Sell

1,257,644

12,643,100

SEK

7/19/22

—

(82,681)

Euro

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

CITI

Sell

12,900,000

14,757,838

7/21/22

1,225,240

—

Euro

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

DBAB

Sell

14,237,184

15,488,775

7/27/22

547,340

—

Chilean

Peso

......

GSCO

Buy

1,357,150,000

1,574,329

7/29/22

—

(102,373)

Euro

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

HSBK

Sell

12,678,158

18,320,446

CAD

8/03/22

920,060

—

Euro

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

JPHQ

Sell

722,235

1,043,246

CAD

8/03/22

52,093

—

Euro

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

UBSW

Sell

513,000

586,144

8/03/22

47,512

—

South

Korean

Won

..

CITI

Buy

952,000,000

740,222

8/03/22

—

(1,278)

Euro

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

MSCO

Sell

1,215,000

1,382,585

8/04/22

106,792

—

Chilean

Peso

......

GSCO

Buy

2,394,434,956

2,852,895

8/08/22

—

(261,377)

Chilean

Peso

......

JPHQ

Buy

1,630,680,000

1,976,702

8/08/22

—

(211,802)

Australian

Dollar

....

JPHQ

Buy

7,190,000

5,310,951

8/11/22

—

(346,551)

Australian

Dollar

....

JPHQ

Sell

7,190,000

5,147,312

8/11/22

182,911

—

Euro

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

JPHQ

Sell

3,196,986

3,420,966

8/11/22

62,144

—

Euro

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

DBAB

Sell

12,764,450

133,896,531

SEK

8/17/22

—

(306,401)

Euro

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

JPHQ

Sell

3,298,009

34,610,000

SEK

8/17/22

—

(77,742)

Chilean

Peso

......

GSCO

Buy

1,343,077,510

1,549,109

8/19/22

—

(99,166)

Chinese

Yuan

......

JPHQ

Buy

69,660,000

10,894,282

8/22/22

—

(491,044)

Chilean

Peso

......

BAST

Buy

16,891,500,000

19,335,508

9/06/22

—

(1,174,207)

Euro

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

DBAB

Sell

19,167,788

202,270,000

NOK

9/15/22

377,839

—

Chinese

Yuan

......

BOFA

Buy

87,762,900

13,052,186

9/21/22

53,006

—

Chinese

Yuan

......

CITI

Buy

239,100,000

35,204,735

9/21/22

498,863

—

New

Zealand

Dollar

.

CITI

Buy

16,040,000

10,915,092

9/21/22

—

(907,384)

New

Zealand

Dollar

.

JPHQ

Buy

2,720,000

1,854,686

9/21/22

—

(157,619)

South

Korean

Won

..

BNDP

Buy

92,494,400,000

71,729,281

9/21/22

170,408

—

South

Korean

Won

..

MSCO

Buy

11,620,000,000

8,946,031

9/21/22

86,671

—

Euro

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

CITI

Sell

2,290,000

2,560,563

9/22/22

146,867

—

Euro

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

HSBK

Sell

7,080,000

7,915,652

9/22/22

453,218

—

Euro

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

SCNY

Sell

1,325,806

1,397,463

9/30/22

—

(776)

Indian

Rupee

......

JPHQ

Buy

264,184,500

3,428,964

10/07/22

—

(112,802)

Chilean

Peso

......

GSCO

Buy

948,990,000

1,143,720

10/11/22

—

(130,414)

Indian

Rupee

......

CITI

Buy

256,676,200

3,321,379

10/11/22

—

(100,670)

Indian

Rupee

......

JPHQ

Buy

106,826,200

1,388,525

10/11/22

—

(48,096)

Euro

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

DBAB

Sell

2,406,531

25,262,800

SEK

10/12/22

—

(60,141)

Euro

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

HSBK

Sell

7,082,350

7,662,308

10/12/22

198,469

(13,214)

Indian

Rupee

......

CITI

Buy

230,576,200

2,995,274

10/12/22

—

(102,331)

Euro

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

BZWS

Sell

5,604,000

6,138,902

10/25/22

215,582

—

Euro

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

DBAB

Sell

2,500,256

2,110,000

GBP

10/25/22

—

(68,190)

Euro

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

DBAB

Sell

7,327,000

8,015,727

10/25/22

271,230

—

Chilean

Peso

......

JPHQ

Buy

2,292,596,735

2,766,164

10/26/22

—

(324,642)

Euro

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

HSBK

Sell

25,991,374

35,626,636

CAD

11/03/22

190,481

—

Indian

Rupee

......

SCNY

Buy

387,100,000

4,911,876

11/14/22

—

(70,074)

Euro

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

DBAB

Sell

7,363,000

8,114,051

1/25/23

269,373

—

Euro

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

BZWS

Sell

2,630,000

2,921,128

4/25/23

100,909

—

Total

Forward

Exchange

Contracts

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

$6,291,656

$(5,289,353)

Net

unrealized

appreciation

(depreciation)

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

$1,002,303

*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Templeton

Global

Income

Fund

Schedule

of

Investments

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

14

See

Note 10 regarding

other

derivative

information.

Interest

Rate

Swap

Contracts

Description

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

*

Value

Unamortized

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

aa

aa

aa

aa

Centrally

Cleared

Swap

Contracts

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

1.762%

...

Annual

3/15/27

8,400,000

$

345,664

$

—

$

345,664

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

1.811%

...

Annual

3/15/32

4,300,000

340,947

—

340,947

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.176%

...

Annual

3/28/32

1,840,000

93,932

—

93,932

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.257%

...

Annual

3/30/32

1,840,000

75,632

—

75,632

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.253%

...

Annual

3/31/32

1,850,000

82,142

—

82,142

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.418%

...

Annual

4/11/32

2,560,000

71,492

—

71,492

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.463%

...

Annual

4/18/32

940,000

22,934

—

22,934

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.541%

...

Annual

4/19/32

520,000

9,151

—

9,151

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.549%

...

Annual

4/19/32

1,250,000

21,121

—

21,121

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.67%

....

Annual

4/21/32

1,240,000

7,956

—

7,956

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.645%

...

Annual

5/16/32

350,000

3,648

—

3,648

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.741%

...

Annual

5/19/32

1,175,000

2,419

—

2,419

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.662%

...

Annual

6/02/32

1,536,000

20,128

—

20,128

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.989%

...

Annual

6/30/32

1,190,000

(16,022)

—

(16,022)

Total

Interest

Rate

Swap

Contracts

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

$1,081,144

$

—

$1,081,144

*

In

U.S.

dollars

unless

otherwise

indicated.

See

Abbreviations

on

page

29

.

Templeton

Global

Income

Fund

Financial

Statements

Statement

of

Assets

and

Liabilities

June

30,

2022

(unaudited)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

15

Templeton

Global

Income

Fund

Assets:

Investments

in

securities:

Cost

-

Unaffiliated

issuers

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

$510,219,598

Cost

-

Non-controlled

affiliates

(Note

3c)

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

18,546,691

Value

-

Unaffiliated

issuers

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

$455,899,522

Value

-

Non-controlled

affiliates

(Note

3c)

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

18,546,691

Cash

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

3,722

Restricted

cash

for

OTC

derivative

contracts

(Note

1d)

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

1,100,000

Restricted

currency,

at

value

(cost

$2)

(Note

1e)

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

2

Foreign

currency,

at

value

(cost

$287,594)

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

286,631

Receivables:

Dividends

and

interest

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

8,466,437

Deposits

with

brokers

for:

OTC

derivative

contracts

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

3,420,203

Centrally

cleared

swap

contracts

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

1,257,431

Unrealized

appreciation

on

OTC

forward

exchange

contracts

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

6,291,656

Total

assets

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

495,272,295

Liabilities:

Payables:

Investment

securities

purchased

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

46

Management

fees

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

230,985

Trustees'

fees

and

expenses

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

64,027

Variation

margin

on

centrally

cleared

swap

contracts

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

290,509

Deposits

from

brokers

for:

OTC

derivative

contracts

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

1,100,000

Unrealized

depreciation

on

OTC

forward

exchange

contracts

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

5,289,353

Deferred

tax

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

21,791

Accrued

expenses

and

other

liabilities

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

139,789

Total

liabilities

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

7,136,500

Net

assets,

at

value

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

$488,135,795

Net

assets

consist

of:

Paid-in

capital

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

$698,691,909

Total

distributable

earnings

(losses)

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

(210,556,114)

Net

assets,

at

value

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

$488,135,795

Shares

outstanding

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

102,721,927

Net

asset

value

per

share

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

$4.75

Templeton

Global

Income

Fund

Financial

Statements

Statement

of

Operations

for

the

six

months

ended

June

30,

2022

(unaudited)

franklintempleton.com

Semiannual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

16

Templeton

Global

Income

Fund

Investment

income:

Dividends:

Non-controlled

affiliates

(Not

e

3c)

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

$7,304

Interest:

(net

of

foreign

taxes

of

$188,160)

Unaffiliated

issuers

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

11,863,498

Total

investment

income

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

11,870,802

Expenses:

Management

fees

(Not

e

3a)

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

1,757,305

Transfer

agent

fees

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

98,552

Custodian

fees

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

146,537

Reports

to

shareholders

fees

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

56,979

Registration

and

filing

fees

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

65,130

Professional

fees

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

345,975

Trustees'

fees

and

expenses

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

15,448

Other

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

50,450

Total

expenses

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

2,536,376

Expenses

waived/paid

by

affiliates

(Not

e

3c

and

3d

)

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

(192,985)

Net

expenses

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

2,343,391

Net

investment

income

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

9,527,411

Realized

and

unrealized

gains

(losses):

Net

realized

gain

(loss)

from:

Investments:

(net

of

foreign

taxes

of

$56,658)

Unaffiliated

issuers

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

(20,023,931)

Foreign

currency

transactions

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

(803,399)

Forward

exchange

contracts

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

(10,458,158)

Net

realized

gain

(loss)

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

(31,285,488)

Net

change

in

unrealized

appreciation

(depreciation)

on:

Investments:

Unaffiliated

issuers

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

(30,362,478)

Translation

of

other

assets

and

liabilities

denominated

in

foreign

currencies

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

555,053

Forward

exchange

contracts

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

(480,305)

Swap

contracts

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

1,081,144

Change

in

deferred

taxes

on

unrealized

appreciation

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

72,758

Net

change

in

unrealized

appreciation

(depreciation)

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

(29,133,828)

Net

realized

and

unrealized

gain

(loss)

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

(60,419,316)

Net

increase

(decrease)

in

net

assets

resulting

from

operations

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

$(50,891,905)

Templeton

Global

Income

Fund

Financial

Statements

Statements

of

Changes

in

Net

Assets

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Semiannual

Report

17

Templeton

Global

Income

Fund

Six

Months

Ended

June

30,

2022

(unaudited)

Year

Ended

December

31,

2021

Increase

(decrease)

in

net

assets:

Operations:

Net

investment

income

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

$9,527,411

$27,840,597

Net

realized

gain

(loss)

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

(31,285,488)

(122,553,952)

Net

change

in

unrealized

appreciation

(depreciation)

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

(29,133,828)

55,906,805

Net

increase

(decrease)

in

net

assets

resulting

from

operations

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

(50,891,905)

(38,806,550)

Distributions

to

shareholders

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

(21,748,820)

—

Distributions

to

shareholders

from

tax

return

of

capital

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

—

(48,995,410)

Total

distributions

to

shareholders

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

(21,748,820)

(48,995,410)

Capital

share

transactions

from

–

repurchase

of

shares

(Note

2)

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

(386,870)

(170,215,462)

Net

increase

(decrease)

in

net

assets

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

(73,027,595)

(258,017,422)

Net

assets:

Beginning

of

period

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

561,163,390

819,180,812

End

of

period

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

$488,135,795

$561,163,390

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

18

franklintempleton.com

Semiannual

Report

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.

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

19

franklintempleton.com

Semiannual

Report

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

terms

are

contract

specific

for

OTC

derivatives.

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

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,

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

1.

Organization

and

Significant

Accounting

Policies

(continued)

b.

Foreign

Currency

Translation 

(continued)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

20

franklintempleton.com

Semiannual

Report

two

interest

rates,

applied

to

a

notional

amount.

These

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.

See

Note

10 regarding

other

derivative

information.

d.

Restricted

Cash

At

June

30,

2022, the

Fund

held

restricted

cash

in

connection

with

investments

in

certain

derivative

securities.

Restricted

cash

is

held

in

a

segregated

account

with

the

Fund’s

custodian

and

is

reflected

in

the

Statement

of

Assets

and

Liabilities.

e.

Restricted

Currency

At

June

30,

2022,

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.

f.

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

June

30,

2022,

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. 

g.

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.

The

Fund

employs

a

managed

distribution

policy

whereby

the

Fund

will

make

monthly

distributions

to

shareholders

at

an

annual

minimum

fixed

rate

of

8%,

based

on

the

average

monthly

NAV

of

the

Fund’s

common

shares.

Effective

March

7,

2022,

the

annual

minimum

fixed

rate

increased

from

7.5%

to

8%.

Under

the

policy,

the

Fund

is

managed

with

a

goal

of

generating

as

much

of

the

distribution

as

possible

from

net

ordinary

income

and

short-term

capital

gains.

The

balance

of

the

distribution

will

then

come

from

long-term

capital

gains

to

the

extent

permitted

and,

if

necessary,

a

return

of

capital.

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

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.

1.

Organization

and

Significant

Accounting

Policies

(continued)

c.

Derivative

Financial

Instruments

(continued)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

21

franklintempleton.com

Semiannual

Report

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.

h.

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.

i.

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

June

30,

2022,

there

were

an

unlimited

number

of

shares

authorized

(without

par

value).

During

the

period

ended

June

30,

2022

and

year

ended

December

31,

2021

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

11,285,400

shares.

In

addition,

the

Fund

separately

conducted

a

tender

offer,

which

expired

on

December

7,

2021.

The

Fund

accepted

31,347,231

shares

in

the

tender

offer.

Transactions

in

the

Fund’s

shares,

including

the

tender

offer,

were

as

follows:

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:

Six

Months

Ended

June

30,

2022

Year

Ended

December

31,

2021

Shares

Amount

Shares

Amount

Shares

repurchased

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

75,000

$386,870

31,347,231

a

$170,215,462

Weighted

average

discount

of

market

price

to

net

asset

value

of

shares

repurchased

..........

5.59%

6.56%

a

On

October

13,

2021,

the

Fund

announced

a

tender

offer

to

purchase

for

cash

up

to

70

percent

of

its

issued

and

outstanding

common

shares

(93,900,910

shares),

each

without

par

value.

The

tender

period

commenced

on

November

8,

2021

and

expired

at

11:59

p.m.

Eastern

time

on

December

7,

2021.

The

Fund

accepted

31,347,231

shares

for

cash

payment

at

a

price

equal

to

$5.43

per

share.

This

purchase

price

was

99%

of

the

Fund’s

NAV

per

share

of

$5.48

as

of

the

close

of

regular

trading

on

the

NYSE

on

December

8,

2021.

Subsidiary

Affiliation

Franklin

Advisers,

Inc.

(Advisers)

Investment

manager

Franklin

Templeton

Services,

LLC

(FT

Services)

Administrative

manager

1.

Organization

and

Significant

Accounting

Policies

(continued)

g.

Security

Transactions,

Investment

Income,

Expenses

and

Distributions

(continued)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

22

franklintempleton.com

Semiannual

Report

a.

Management

Fees

The

Fund

pays

an

investment

management

fee,

calculated

daily

and

paid

monthly

to

Advisers

based

on

the

average

daily

net

assets

of

the

Fund

as

follows:

For

the

period

ended

June

30,

2022,

the

annualized

gross

effective

investment

management

fee

rate

was

0.659%

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.

As

defined

in

the

1940

Act,

an

investment

is

deemed

to

be

a

“Controlled

Affiliate”

of

a

fund

when

a

fund

owns,

either

directly

or

indirectly,

25%

or

more

of

the

affiliated

fund’s

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

fund.

The

Fund

does

not

invest

for

purposes

of

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

period

ended

June

30,

2022,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows:

d.

Waiver

and

Expense

Reimbursements

Effective

March

1,

2022,

Advisers

has

voluntarily

agreed

in

advance

to

waive

0.10%

of

its

investment

management

fees

based

on

the

average

daily

net

assets

of

the

Fund

until

September

1,

2022.

Total

expenses

waived

or

paid

are

not

subject

to

recapture

subsequent

to

the

Fund's

fiscal

year

end.

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

    aa

Value

at

Beginning

of

Period

Purchases

Sales

Realized

Gain

(Loss)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

End

of

Period

Number

of

Shares

Held

at

End

of

Period

Investment

Income

a      

a  

a  

a  

a  

a  

a  

a  

Templeton

Global

Income

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.895%

$

27,885,778

$

229,903,214

$

(239,242,301)

$

—

$

—

$

18,546,691

18,546,691

$

7,304

Total

Affiliated

Securities

...

$27,885,778

$229,903,214

$(239,242,301)

$—

$—

$18,546,691

$7,304

3.

Transactions

with

Affiliates

(continued)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

23

franklintempleton.com

Semiannual

Report

4.

Income

Taxes

For

tax

purposes,

capital

losses

may

be

carried

over

to

offset

future

capital

gains.

At

December

31,

2021,

the

capital

loss

carryforwards

were

as

follows:

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,

2021,

the

Fund

deferred

late-year

ordinary

losses

of

$25,405,843.

At

June

30,

2022,

the

cost

of

investments

and

net

unrealized

appreciation

(depreciation)

for

income

tax

purposes

were

as

follows:

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,

bond

discounts

and

premiums,

tax

straddles

and

wash

sales.

5.

Investment

Transactions

Purchases

and

sales

of

investments

(excluding

short

term

securities)

for

the

period

ended

June

3

0

,

202

2

,

aggregated

$

112,665,175

and

$

98,896,554

,

respectively.

6.

Credit Risk

At

June

30,

2022,

the

Fund

had

24.3%

of

its

portfolio

invested

in

high

yield

or

other

securities

rated

below

investment

grade

and

unrated

securities.

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.

7.

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

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

June

30,

2022,

the

Fund

had

0.1%

of

its

net

assets

denominated

in

Argentine

Pesos.

Argentina

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.

Capital

loss

carryforwards

not

subject

to

expiration:

Short

term

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

$14,172,840

Long

term

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

59,218,515

Total

capital

loss

carryforwards

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

$73,391,355

Cost

of

investments

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

$545,758,330

Unrealized

appreciation

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

$7,879,685

Unrealized

depreciation

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

(77,009,717)

Net

unrealized

appreciation

(depreciation)

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

$(69,130,032)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

24

franklintempleton.com

Semiannual

Report

8.

Geopolitical

Risk 

On

February

24,

2022,

Russia

engaged

in

military

actions

in

the

sovereign

territory

of

Ukraine.

The

current

political

and

financial

uncertainty

surrounding

Russia

and

Ukraine

may

increase

market

volatility

and

the

economic

risk

of

investing

in

securities

in

these

countries

and

may

also

cause

uncertainty

for

the

global

economy

and

broader

financial

markets.

The

ultimate

fallout

and

long-term

impact

from

these

events

are

not

known.

The

Fund

will

continue

to

assess

the

impact

on

valuations

and

liquidity

and

will

take

any

potential

actions

needed

in

accordance

with

procedures

approved

by

the

Board.

9.

Novel

Coronavirus

Pandemic 

The

global

outbreak

of

the

novel

coronavirus

disease,

known

as

COVID-19, has

caused

adverse

effects

on

many

companies,

sectors,

nations,

regions

and

the

markets

in

general, and

may

continue for

an unpredictable duration.

The

effects

of

this

pandemic

may

materially

impact

the

value

and

performance

of

the Fund, its ability

to

buy

and

sell

fund

investments

at

appropriate

valuations

and its ability

to

achieve its investment

objectives.

10.

Other

Derivative

Information

At

June

3

0

,

202

2

,

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

Templeton

Global

Income

Fund

Interest

rate

contracts

.......

Variation

margin

on

centrally

cleared

swap

contracts

$

1,097,166

a

Variation

margin

on

centrally

cleared

swap

contracts

$

16,022

a

Foreign

exchange

contracts

..

Unrealized

appreciation

on

OTC

forward

exchange

contracts

6,291,656

Unrealized

depreciation

on

OTC

forward

exchange

contracts

5,289,353

Total

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

$7,388,822

$5,305,375

a

This

amount

reflects

the

cumulative

appreciation

(depreciation)

of

centrally

cleared

swap

contracts

as

reported

in

the

Schedule

of

Investments.

Only

the

variation

margin

receivable/payable

at

period

end

is

separately

reported

within

the

Statement

of

Assets

and

Liabilities.

Prior

variation

margin

movements

were

recorded

to

cash

upon

receipt

or

payment.

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

25

franklintempleton.com

Semiannual

Report

For

the

period

ended

June

30,

2022,

the

effect

of

derivative

contracts

in

the

Statement

of

Operations

was

as

follows:

For

the

period

ended

June

30,

2022,

the

average

month

end

notional

amount

of

swap

contracts

represented

$14,032,286.

The

average

month

end

contract

value

of

forward

exchange

contracts

was

$646,848,328.

At

June

30,

2022,

OTC

derivative

assets

and

liabilities

are

as

follows:

Derivative

Contracts

Not

Accounted

for

as

Hedging

Instruments

Statement

of

Operations

Location

Net

Realized

Gain

(Loss)

for

the

Period

Statement

of

Operations

Location

Net

Change

in

Unrealized

Appreciation

(Depreciation)

for

the

Period

Templeton

Global

Income

Fund

Net

realized

gain

(loss)

from:

Net

change

in

unrealized

  appreciation

(depreciation)

on:

Interest

rate

contracts

..........

Swap

contracts

$—

Swap

contracts

$1,081,144

Foreign

exchange

contracts

.....

Forward

exchange

contracts

(10,458,158)

Forward

exchange

contracts

(480,305)

Total

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

$(10,458,158)

$600,839

Gross

Amounts

of

Assets

and

Liabilities

Presented

in

the

Statement

of

Assets

and

Liabilities

Assets

a

Liabilities

a

Templeton

Global

Income

Fund

Derivatives

Forward

exchange

contracts

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

$

6,291,656

$

5,289,353

Total

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

$6,291,656

$5,289,353

a

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.

10.

Other

Derivative

Information

(continued)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

26

franklintempleton.com

Semiannual

Report

At

June

30,

2022,

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

Received

a,b

Cash

Collateral

Received

Net

Amount

(Not

less

than

zero)

Templeton

Global

Income

Fund

Counterparty

BAST

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

$—

$—

$—

$—

$—

BNDP

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

170,408

—

—

—

170,408

BOFA

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

53,006

—

—

—

53,006

BZWS

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

316,491

—

—

(280,000)

36,491

CITI

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

1,870,970

(1,111,663)

—

(759,307)

—

DBAB

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

1,465,782

(517,413)

(948,369)

—

—

GSCO

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

—

—

—

—

—

HSBK

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

1,762,228

(51,592)

(1,212,379)

—

498,257

JPHQ

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

297,148

(297,148)

—

—

—

MSCO

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

193,463

—

—

—

193,463

SCNY

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

114,648

(70,850)

—

—

43,798

UBSW

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

47,512

—

—

—

47,512

Total

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

$6,291,656

$(2,048,666)

$

(2,160,748)

$(1,039,307)

$1,042,935

$

1

10.

Other

Derivative

Information

(continued)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

27

franklintempleton.com

Semiannual

Report

At

June

30,

2022,

OTC

derivative

liabilities,

which

may

be

offset

against

OTC

derivative

assets

and

collateral

pledged

to

the

counterparty,

are

as

follows:

See

Note

1(c)

regarding

derivative

financial

instruments. 

See

Abbreviations

on

page

29

.

11.

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)

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

Pledged

b

Net

Amount

(Not

less

than

zero)

Templeton

Global

Income

Fund

Counterparty

BAST

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

$1,174,207

$—

$—

$(900,000)

$274,207

BNDP

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

—

—

—

—

—

BOFA

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

—

—

—

—

—

BZWS

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

—

—

—

—

—

CITI

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

1,111,663

(1,111,663)

—

—

—

DBAB

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

517,413

(517,413)

—

—

—

GSCO

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

593,330

—

—

(593,330)

—

HSBK

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

51,592

(51,592)

—

—

—

JPHQ

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

1,770,298

(297,148)

—

(1,473,150)

—

MSCO

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

—

—

—

—

—

SCNY

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

70,850

(70,850)

—

—

—

UBSW

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

—

—

—

—

—

Total

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

$5,289,353

$(2,048,666)

$—

$(2,966,480)

$274,207

a

At

June

30,

2022,

the

Fund

received

U.S.

Treasury

Bonds

and

Notes

and

U.K

Treasury

Inflation-Linked

Gilt

Bonds

as

collateral

for

derivatives.

b

In

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

over

collateralization.

Actual

collateral

received

and/or

pledged

may

be

more

than

the

amounts

disclosed

herein.

10.

Other

Derivative

Information

(continued)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

28

franklintempleton.com

Semiannual

Report

The

input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level.

A

summary

of

inputs

used

as

of

June

30,

2022,

in

valuing

the

Fund's

assets

and

liabilities

carried

at

fair

value,

is

as

follows:

12.

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.

Level

1

Level

2

Level

3

Total

Templeton

Global

Income

Fund

Assets:

Investments

in

Securities:

Foreign

Government

and

Agency

Securities

....

$

—

$

352,402,806

$

—

$

352,402,806

Short

Term

Investments

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

18,546,691

103,496,716

—

122,043,407

Total

Investments

in

Securities

...........

$18,546,691

$455,899,522

$—

$474,446,213

Other

Financial

Instruments:

Forward

exchange

contracts

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

$

—

$

6,291,656

$

—

$

6,291,656

Restricted

Currency

(ARS)

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

—

2

—

2

Swap

contracts

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

—

1,097,166

—

1,097,166

Total

Other

Financial

Instruments

.........

$—

$7,388,824

$—

$7,388,824

Receivables:

Interest

(ARS)

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

$—

$64,409

$—

$64,409

Liabilities:

Other

Financial

Instruments:

Forward

exchange

contracts

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

$

—

$

5,289,353

$

—

$

5,289,353

Swap

contracts

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

—

16,022

—

16,022

Total

Other

Financial

Instruments

.........

$—

$5,305,375

$—

$5,305,375

Payables:

Deferred

Tax

(ARS)

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

$—

$442

$—

$442

11.

Fair

Value

Measurements

(continued)

Templeton

Global

Income

Fund

Notes

to

Financial

Statements

(unaudited)

29

franklintempleton.com

Semiannual

Report

Abbreviations

Counterparty

BAST

Banco

Santander

SA

BNDP

BNP

Paribas

SA

BOFA

Bank

of

America

Corp.

BZWS

Barclays

Bank

plc

CITI

Citibank

NA

DBAB

Deutsche

Bank

AG

GSCO

Goldman

Sachs

Group,

Inc.

HSBK

HSBC

Bank

plc

JPHQ

JPMorgan

Chase

Bank

NA

MSCO

Morgan

Stanley

SCNY

Standard

Chartered

Bank

UBSW

UBS

AG

Cu

r

rency

ARS

Argentine

Peso

BRL

Brazilian

Real

CAD

Canadian

Dollar

CNY

Chinese

Yuan

COP

Colombian

Peso

GBP

British

Pound

GHS

Ghanaian

Cedi

IDR

Indonesian

Rupiah

INR

Indian

Rupee

KRW

South

Korean

Won

MXN

Mexican

Peso

NOK

Norwegian

Krone

SEK

Swedish

Krona

SGD

Singapore

Dollar

THB

Thai

Baht

Selected

Portfolio

SOFR

Secured

Overnight

Financing

Rate

Templeton

Global

Income

Fund

Important

Information

to

Shareholders

30

franklintempleton.com

Semiannual

Report

Share

Repurchase

Program

The

Fund’s

Board

of

Trustees

(the

“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.

Management

Fee

Waiver

On

March

21,

2022,

the

Fund

announced

that

the

Fund’s

Board

and

manager

had

reached

an

agreement

to

implement

a

fee

waiver

to

reduce

the

Fund’s

investment

management

fee

by

10

basis

points.

As

a

result

of

this

fee

waiver,

for

the

period

beginning

March

1,

2022

and

ending

September

1,

2022,

the

Fund

will

pay

the

investment

manager

a

monthly

fee

in

dollars,

at

the

annual

rate

of

the

Fund’s

daily

net

assets,

as

listed

below,

payable

at

the

end

of

each

calendar

month:

0.600%

up

to

and

including

$200

million;

and

0.535%

over

$200

million,

up

to

and

including

$700

million.

Recommencing

on

September

1,

2022,

the

Fund

will

pay

the

investment

manager

a

monthly

fee

in

dollars,

at

the

annual

rate

of

the

Fund’s

daily

net

assets,

as

listed

below,

payable

at

the

end

of

each

calendar

month:

0.700%

up

to

and

including

$200

million;

and

0.635%

over

$200

million,

up

to

and

including

$700

million.

Increase

to

Managed

Distribution

Plan

On

March

7,

2022,

the

Fund

announced

that

the

Board

had

authorized

an

increase

to

the

Fund’s

managed

distribution

plan

pursuant

to

which

the

Fund

will

make

monthly

distributions

to

shareholders

at

an

annual

minimum

fixed

rate

of

8%,

an

increase

from

the

previously

authorized

7.5%,

based

on

the

average

monthly

net

asset

value

(NAV)

of

the

Fund’s

common

shares

(the

“Plan”).

Management

believes

that

the

increased

distribution

rate

will

benefit

shareholders

consistent

with

the

Fund’s

investment

goal

to

seek

high,

current

income.

The

Fund

calculates

the

average

NAV

from

the

previous

month

based

on

the

number

of

business

days

in

the

month

on

which

the

NAV

is

calculated.

The

Plan

is

intended

to

provide

shareholders

with

a

constant,

but

not

guaranteed,

fixed

minimum

rate

of

distribution

each

month

and

is

intended

to

narrow

the

discount

between

the

market

price

and

the

NAV

of

the

Fund’s

common

shares,

but

there

can

be

no

assurance

that

the

Plan

will

be

successful

in

doing

so.

The

Fund

is

managed

with

a

goal

of

generating

as

much

of

the

distribution

as

possible

from

net

ordinary

income

and

short-term

capital

gains,

that

is

consistent

with

the

Fund’s

investment

strategy

and

risk

profile.

To

the

extent

that

sufficient

distributable

income

is

not

available

on

a

monthly

basis,

the

Fund

will

distribute

long-term

capital

gains

and/or

return

of

capital

in

order

to

maintain

its

managed

distribution

rate.

A

return

of

capital

may

occur,

for

example,

when

some

or

all

of

the

money

that

was

invested

in

the

Fund

is

paid

back

to

shareholders.

A

return

of

capital

distribution

does

not

necessarily

reflect

the

Fund’s

investment

performance

and

should

not

be

confused

with

“yield”

or

“income”.

Even

though

the

Fund

may

realize

current

year

capital

gains,

such

gains

may

be

offset,

in

whole

or

in

part,

by

the

Fund’s

capital

loss

carryovers

from

prior

years.

The

Board

may

amend

the

terms

of

the

Plan

or

terminate

the

Plan

at

any

time

without

prior

notice

to

the

Fund’s

shareholders.

The

amendment

or

termination

of

the

Plan

Templeton

Global

Income

Fund

Important

Information

to

Shareholders

31

franklintempleton.com

Semiannual

Report

could

have

an

adverse

effect

on

the

market

price

of

the

Fund’s

common

shares.

The

Plan

will

be

subject

to

the

periodic

review

by

the

Board,

including

a

yearly

review

of

the

annual

minimum

fixed

rate

to

determine

if

an

adjustment

should

be

made.

Shareholders

should

not

draw

any

conclusions

about

the

Fund’s

investment

performance

from

the

amount

of

this

distribution

or

from

the

terms

of

the

Plan.

The

amounts

and

sources

of

the

Fund’s

distributions

to

be

reported

will

be

estimates

and

will

not

be

provided

for

tax

reporting

purposes.

The

actual

amounts

and

sources

of

the

amounts

for

tax

reporting

purposes

will

depend

upon

the

Fund’s

investment

experience

during

the

remainder

of

its

fiscal

year

and

may

be

subject

to

changes

based

on

tax

regulations.

The

Fund

will

send

a

Form

1099-DIV

to

shareholders

for

the

calendar

year

that

will

describe

how

to

report

the

Fund’s

distributions

for

federal

income

tax

purposes.

Templeton

Global

Income

Fund

Annual

Meeting

of

Shareholders

June

6,

2022

(unaudited)

32

franklintempleton.com

Semiannual

Report

The

Annual

Meeting

of

Shareholders

of

the

Fund

was

held

on

June

6,

2022

(the

“Annual

Meeting”).

Shareholders

were

asked

to

vote

on

the

following

proposals:

(1)

the

election

of

four

Trustees

for

a

three-year

term;

(2)

the

ratification

of

the

selection

of

PricewaterhouseCoopers

LLP

as

the

independent

registered

public

accounting

firm

for

the

Fund

for

the

fiscal

year

ending

December

31,

2022;

and

(3)

a

shareholder

proposal

from

Saba

Capital

Management,

L.P.

(“Saba”)

to

terminate

the

Fund’s

Investment

Management

Agreement.

Following

the

Annual

Meeting,

the

Fund

and

a

Fund

shareholder

filed

a

complaint

and

temporary

restraining

order

request

in

United

States

District

Court

in

the

Southern

District

of

New

York

(the

“Court”)

seeking

to

prevent

the

certification

of

the

results

of

the

Annual

Meeting.

Thereafter,

the

Fund

and

Saba

and

related

individuals

and

parties

(together,

the

“Parties”)

filed

a

Stipulation

and

Proposed

Order

with

the

Court,

which

was

granted

by

the

Court,

for

entry

of

a

status

quo

agreement

and

schedule

for

expedited

proceedings,

thereby

resolving

the

Fund’s

request

for

a

temporary

restraining

order

related

to

the

certification

of

the

results

of

the

Annual

Meeting.

The

Parties

agreed

that

the

Annual

Meeting

results

will

not

be

certified

and

Saba’s

2022

Trustee

nominees

will

not

be

seated

before

one

business

day

after

the

Court

has

issued

a

ruling

on

the

Fund’s

request

for

injunctive

relief.

The

Parties

also

agreed

that

the

Fund

and

its

current

Board

of

Trustees

shall

continue

to

manage

the

Fund

in

the

ordinary

course

of

business

consistent

with

their

fiduciary

duties

and

as

required

by

law.

Templeton

Global

Income

Fund

33

franklintempleton.com

Semiannual

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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.

Templeton

Global

Income

Fund

Dividend

Reinvestment

and

Cash

Purchase

Plan

34

franklintempleton.com

Semiannual

Report

Transfer

Agent

American

Stock

Transfer

and

Trust

Company,

LLC

P.O.

Box

922,

Wall

Street

Station,

New

York,

NY

10269-056

(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

to

www.astfinancial.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

available

at

franklintempleton.com.

For

current

information

about

dividends

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

website

at

www.

astfinancial.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.

Templeton

Global

Income

Fund

Shareholder

Information

35

franklintempleton.com

Semiannual

Report

Board

Approval

of

Investment

Management

Agreements

TEMPLETON

GLOBAL

INCOME

FUND

(Fund)

At

a

virtual

meeting

held

on

February

27,

2022

(Meeting),

the

Board

of

Trustees

(Board)

of

the

Fund,

including

a

majority

of

the

trustees

who

are

not

“interested

persons”

as

defined

in

the

Investment

Company

Act

of

1940

(Independent

Trustees),

reviewed

and

approved

the

continuance

of

the

investment

management

agreement

between

Franklin

Advisers,

Inc.

(Manager)

and

the

Fund

(Management

Agreement)

for

an

additional

one-year

period.

The

Independent

Trustees

received

advice

from

and

met

separately

with

Independent

Trustee

counsel

in

considering

whether

to

approve

the

continuation

of

the

Management

Agreement.

In

considering

the

continuation

of

the

Management

Agreement,

the

Board

reviewed

and

considered

information

provided

by

the

Manager

at

the

Meeting

and

throughout

the

year

at

meetings

of

the

Board

and

its

committees.

The

Board

also

reviewed

and

considered

information

provided

in

response

to

a

detailed

set

of

requests

for

information

submitted

to

the

Manager

by

Independent

Trustee

counsel

on

behalf

of

the

Independent

Trustees

in

connection

with

the

annual

contract

renewal

process.

In

addition,

prior

to

the

Meeting,

the

Independent

Trustees

held

a

virtual

contract

renewal

meeting

at

which

the

Independent

Trustees

conferred

amongst

themselves

and

Independent

Trustee

counsel

about

contract

renewal

matters.

At

that

meeting,

they

met

with

senior

leadership

of

the

global

macro

funds

regarding

the

performance

of

the

funds;

and

met

with

management

to

request

additional

information

that

the

Independent

Trustees

reviewed

and

considered

at

the

Meeting.

The

Board

later

had

an

opportunity

for

an

expanded

discussion

with

the

leadership

of

the

global

macro

funds

to

hear

about

strategies

to

deliver

improved

investment

returns

to

shareholders.

The

Board

reviewed

and

considered

all

of

the

factors

it

deemed

relevant

in

approving

the

continuance

of

the

Management

Agreement,

including,

but

not

limited

to:

(i)

the

nature,

extent

and

quality

of

the

services

provided

by

the

Manager;

(ii)

the

investment

performance

of

the

Fund;

(iii)

the

costs

of

the

services

provided

and

profits

realized

by

the

Manager

and

its

affiliates

from

the

relationship

with

the

Fund;

(iv)

the

extent

to

which

economies

of

scale

are

realized

as

the

Fund

grows;

and

(v)

whether

fee

levels

reflect

these

economies

of

scale

for

the

benefit

of

Fund

investors.

In

approving

the

continuance

of

the

Management

Agreement,

the

Board,

including

a

majority

of

the

Independent

Trustees,

determined

that

the

terms

of

the

Management

Agreement

are

fair

and

reasonable

and

that

the

continuance

of

such

Management

Agreement

is

in

the

best

interests

of

the

Fund

and

its

shareholders.

While

attention

was

given

to

all

information

furnished,

the

following

discusses

some

primary

factors

relevant

to

the

Board’s

determination.

Nature,

Extent

and

Quality

of

Services

The

Board

reviewed

and

considered

information

regarding

the

nature,

extent

and

quality

of

investment

management

services

provided

by

the

Manager

and

its

affiliates

to

the

Fund

and

its

shareholders.

This

information

included,

among

other

things,

the

qualifications,

background

and

experience

of

the

senior

management

and

investment

personnel

of

the

Manager,

as

well

as

information

on

succession

planning

where

appropriate;

the

structure

of

investment

personnel

compensation;

oversight

of

third-party

service

providers;

investment

performance

reports

and

related

financial

information

for

the

Fund

(including

its

share

price

discount

to

net

asset

value);

reports

on

expenses

and

shareholder

services;

legal

and

compliance

matters;

risk

controls;

pricing

and

other

services

provided

by

the

Manager

and

its

affiliates;

and

management

fees

charged

by

the

Manager

and

its

affiliates

to

US

funds

and

other

accounts,

including

management’s

explanation

of

differences

among

accounts

where

relevant.

The

Board

noted

management’s

continued

commitment

to

providing

the

resources

important

to

enhancing

the

investment

process

of

the

global

macro

funds

for

the

benefit

of

the

funds

and

their

shareholders.

The

Board

acknowledged

the

ongoing

integration

of

the

Legg

Mason

family

of

funds

into

the

Franklin

Templeton

(FT)

family

of

funds

and

developing

strategies

to

address

areas

of

heightened

concern

in

the

mutual

fund

industry,

including

various

regulatory

initiatives

and

recent

geopolitical

concerns.

The

Board

also

reviewed

and

considered

the

benefits

provided

to

Fund

shareholders

of

investing

in

a

fund

that

is

part

of

the

FT

family

of

funds.

The

Board

noted

the

financial

position

of

Franklin

Resources,

Inc.

(FRI),

the

Manager’s

parent,

and

its

commitment

to

the

mutual

fund

business

as

evidenced

by

its

reassessment

of

the

fund

offerings

in

response

to

the

market

environment

and

project

initiatives

and

capital

investments

relating

to

the

services

provided

to

the

Fund

by

the

FT

organization.

The

Board

Templeton

Global

Income

Fund

Shareholder

Information

36

franklintempleton.com

Semiannual

Report

specifically

noted

FT’s

commitment

to

being

a

global

leader

in

stewardship

and

sustainability

and

the

recent

addition

of

a

senior

executive

focused

on

environmental,

social

and

governance

and

climate

control

initiatives.

Following

consideration

of

such

information,

the

Board

was

satisfied

with

the

nature,

extent

and

quality

of

services

provided

by

the

Manager

and

its

affiliates

to

the

Fund

and

its

shareholders.

Fund

Performance

The

Board

reviewed

and

considered

the

performance

results

of

the

Fund

over

various

time

periods

ended

November

30,

2021.

The

Board

considered

the

performance

returns

for

the

Fund

in

comparison

to

the

performance

returns

of

mutual

funds

deemed

comparable

to

the

Fund

included

in

a

universe

(Performance

Universe)

selected

by

Broadridge

Financial

Solutions,

Inc.

(Broadridge),

an

independent

provider

of

investment

company

data.

The

Board

received

a

description

of

the

methodology

used

by

Broadridge

to

select

the

mutual

funds

included

in

a

Performance

Universe.

The

Board

also

reviewed

and

considered

Fund

performance

reports

provided

and

discussions

that

occurred

with

portfolio

managers

at

Board

meetings

throughout

the

year.

A

summary

of

the

Fund’s

performance

results

is

below.

Such

results

are

based

on

net

asset

value

without

regard

to

market

discounts

or

premiums.

The

Performance

Universe

for

the

Fund

included

the

Fund

and

all

leveraged

and

non-leveraged

closed-end

global

income

funds.

The

Board

noted

that

the

Fund’s

annualized

income

return

and

annualized

total

return

for

the

one-,

three-,

five-

and

10-year

periods

were

below

the

medians

and

primarily

in

the

fifth

quintile

(worst)

of

its

Performance

Universe.

The

Board

discussed

this

performance

with

management

and

management

explained

that

the

Fund’s

relative

underperformance

in

comparison

to

its

Performance

Universe

over

the

reporting

periods

was,

in

part,

due

to

the

Fund’s

performance

in

2019

and

2020.

Management

further

explained

that

the

underperformance

was

driven

by

the

Fund’s

defensive

positioning

amid

the

pandemic,

which

restrained

the

Fund’s

participation

in

the

risk

asset

rallies

in

the

second

half

of

2020.

Management

also

explained

that

the

Fund’s

long

exposure

to

emerging

market

local

currency

assets

and

short

exposure

to

US

Treasury

duration

during

the

three-

and

five-year

reporting

periods

detracted

from

the

Fund’s

relative

performance

versus

the

Performance

Universe.

Management

further

explained

that

after

vaccines

were

approved

toward

the

end

of

2020

management

significantly

repositioned

the

Fund’s

strategies

back

towards

risk

allocations

and

expanded

on

that

risk

positioning

throughout

2021,

emphasizing

specific

currencies

against

the

US

dollar

and

the

euro,

as

well

as

local

currency

bonds

in

a

select

set

of

emerging

markets.

Management

reported

that

this

resulted

in

notable

improvement

in

the

Fund’s

performance

for

the

one-year

period

ended

January

31,

2022.

Management

further

explained

the

steps

the

portfolio

management

team

is

taking

in

an

effort

to

improve

the

Fund’s

peer

rankings

across

all

reporting

periods

and

reduce

the

impact

of

the

Fund’s

relative

underperformance

in

2019

and

2020.

The

Board

noted

management’s

continued

confidence

in

the

Fund’s

portfolio

management

team,

commitment

to

an

enhanced

investment

process

for

the

benefit

of

Fund

shareholders

and

commitment

to

have

ongoing

conversations

with

the

Board

regarding

management’s

strategies

for

addressing

the

performance

of

the

global

macro

funds

as

a

whole.

Based

on

the

foregoing,

the

Board

concluded

that

the

Fund’s

Management

Agreement

should

be

continued

for

an

additional

one-

year

period,

and

that

management’s

efforts

and

the

recent

improved

performance

of

the

Fund

should

continue

to

be

closely

monitored.

Comparative

Fees

and

Expenses

The

Board

reviewed

and

considered

information

regarding

the

Fund’s

actual

total

expense

ratio

and

its

various

components,

including,

as

applicable,

management

fees;

underlying

fund

expenses;

investment-related

expenses;

and

other

non-management

fees.

The

Board

considered

the

actual

total

expense

ratio

and,

separately,

the

contractual

management

fee

rate,

without

the

effect

of

fee

waivers,

if

any

(Management

Rate)

of

the

Fund

in

comparison

to

the

median

expense

ratio

and

median

Management

Rate,

respectively,

of

other

mutual

funds

deemed

comparable

to

and

with

a

similar

expense

structure

to

the

Fund

selected

by

Broadridge

(Expense

Group).

Broadridge

fee

and

expense

data

is

based

upon

information

taken

from

each

fund’s

most

recent

annual

or

semi-annual

report,

which

reflects

historical

asset

levels.

While

recognizing

such

inherent

limitation

and

the

fact

that

expense

ratios

and

Management

Rates

generally

increase

as

assets

decline

and

decrease

as

assets

grow,

the

Board

believed

the

independent

analysis

conducted

by

Broadridge

to

be

an

appropriate

measure

of

comparative

fees

and

expenses.

The

Broadridge

Management

Rate

includes

administrative

charges.

The

Board

received

a

description

of

the

methodology

used

by

Broadridge

to

select

the

mutual

funds

included

in

the

Expense

Group.

The

Expense

Group

for

the

Fund

included

the

Fund

and

six

other

leveraged

and

non-leveraged

global

income

closed-

end

funds.

The

Board

noted

that

the

Management

Rate

and

actual

total

expense

ratio

for

the

Fund

were

below

the

medians

and

in

the

first

quintile

(best)

of

its

Expense

Group.

The

Board

further

noted

Management’s

proposal

of

a

ten

basis

point

waiver

for

a

period

of

six

months.

Templeton

Global

Income

Fund

Shareholder

Information

37

franklintempleton.com

Semiannual

Report

The

Board

concluded

that

the

Management

Rate

charged

to

the

Fund

is

reasonable.

Profitability

The

Board

reviewed

and

considered

information

regarding

the

profits

realized

by

the

Manager

and

its

affiliates

in

connection

with

the

operation

of

the

Fund.

In

this

respect,

the

Board

considered

the

Fund

profitability

analysis

provided

by

the

Manager

that

addresses

the

overall

profitability

of

FT’s

US

fund

business,

as

well

as

its

profits

in

providing

investment

management

and

other

services

to

each

of

the

individual

funds

during

the

12-month

period

ended

September

30,

2021,

being

the

most

recent

fiscal

year-

end

for

FRI.

The

Board

noted

that

although

management

continually

makes

refinements

to

its

methodologies

used

in

calculating

profitability

in

response

to

organizational

and

product-related

changes,

the

overall

methodology

has

remained

consistent

with

that

used

in

the

Fund’s

profitability

report

presentations

from

prior

years.

The

Board

also

noted

that

PricewaterhouseCoopers

LLP,

auditor

to

FRI

and

certain

FT

funds,

has

been

engaged

by

the

Manager

to

periodically

review

and

assess

the

allocation

methodologies

to

be

used

solely

by

the

Fund’s

Board

with

respect

to

the

profitability

analysis.

The

Board

noted

management’s

belief

that

costs

incurred

in

establishing

the

infrastructure

necessary

for

the

type

of

mutual

fund

operations

conducted

by

the

Manager

and

its

affiliates

may

not

be

fully

reflected

in

the

expenses

allocated

to

the

Fund

in

determining

its

profitability,

as

well

as

the

fact

that

the

level

of

profits,

to

a

certain

extent,

reflected

operational

cost

savings

and

efficiencies

initiated

by

management.

As

part

of

this

evaluation,

the

Board

considered

management’s

outsourcing

of

certain

operations,

which

effort

has

required

considerable

up-front

expenditures

by

the

Manager

but,

over

the

long

run

is

expected

to

result

in

greater

efficiencies.

The

Board

also

noted

management’s

expenditures

in

improving

shareholder

services

provided

to

the

Fund,

as

well

as

the

need

to

implement

systems

and

meet

additional

regulatory

and

compliance

requirements

resulting

from

recent

US

Securities

and

Exchange

Commission

and

other

regulatory

requirements.

The

Board

also

considered

the

extent

to

which

the

Manager

and

its

affiliates

might

derive

ancillary

benefits

from

fund

operations,

potential

benefits

resulting

from

personnel

and

systems

enhancements

necessitated

by

fund

growth,

as

well

as

increased

leverage

with

service

providers

and

counterparties.

Based

upon

its

consideration

of

all

these

factors,

the

Board

concluded

that

the

level

of

profits

realized

by

the

Manager

and

its

affiliates

from

providing

services

to

the

Fund

was

not

excessive

in

view

of

the

nature,

extent

and

quality

of

services

provided

to

the

Fund.

Economies

of

Scale

The

Board

reviewed

and

considered

the

extent

to

which

the

Manager

may

realize

economies

of

scale,

if

any,

as

the

Fund

grows

larger

and

whether

the

Fund’s

management

fee

structure

reflects

any

economies

of

scale

for

the

benefit

of

shareholders.

The

Board

believes

that

the

Manager’s

ability

to

realize

economies

of

scale

and

the

sharing

of

such

benefit

is

a

more

relevant

consideration

in

the

case

of

an

open-end

fund

whose

size

increases

as

a

result

of

the

continuous

sale

of

its

shares.

A

closed-end

fund,

such

as

the

Fund,

does

not

continuously

offer

shares,

and

growth

following

its

initial

public

offering

will

primarily

result

from

market

appreciation,

which

benefits

its

shareholders.

While

believing

economies

of

scale

to

be

less

of

a

factor

in

the

context

of

a

closed-

end

fund,

the

Board

believes

at

some

point

an

increase

in

size

may

lead

to

economies

of

scale

that

would

be

shared

with

the

Fund

and

its

shareholders.

The

Board

noted

the

existence

of

management

fee

breakpoints,

which

operate

generally

to

share

any

economies

of

scale

with

the

Fund’s

shareholders

by

reducing

the

Fund’s

effective

management

fees

as

the

Fund

grows

in

size.

The

Board

considered

the

Manager’s

view

that

any

analyses

of

potential

economies

of

scale

in

managing

a

particular

fund

are

inherently

limited

in

light

of

the

joint

and

common

costs

and

investments

the

Manager

incurs

across

the

FT

family

of

funds

as

a

whole.

The

Board

noted

that

the

Fund

had

experienced

a

decrease

in

assets

and

would

not

be

expected

to

demonstrate

additional

economies

of

scale

in

the

near

term,

but

concluded

that

to

the

extent

economies

of

scale

may

be

realized

by

the

Manager

and

its

affiliates,

the

Fund’s

management

fee

structure

provided

a

sharing

of

benefits

with

the

Fund

and

its

shareholders

as

the

Fund

grows.

Conclusion

Based

on

its

review,

consideration

and

evaluation

of

all

factors

it

believed

relevant,

including

the

above-described

factors

and

conclusions,

the

Board

unanimously

approved

the

continuation

of

the

Management

Agreement

for

an

additional

one-year

period.

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

Templeton

Global

Income

Fund

Shareholder

Information

38

franklintempleton.com

Semiannual

Report

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

Schedule

of

Investments

The

Fund

files

a

complete

consolidated

schedule

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.

39

franklintempleton.com

Not

part

of

the

semiannual

report

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.astfinancial.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

40

franklintempleton.com

Not

part

of

the

semiannual

report

TERMS

AND

CONDITIONS

OF

DIVIDEND

REINVESTMENT

AND

CASH

PURCHASE

PLAN

(continued)

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

Planwill

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

41

franklintempleton.com

Not

part

of

the

semiannual

report

TERMS

AND

CONDITIONS

OF

DIVIDEND

REINVESTMENT

AND

CASH

PURCHASE

PLAN

(continued)

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.

TLGIM

S

08/22

©

2022

Franklin

Templeton

Investments.

All

rights

reserved.

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.

Semiannual

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

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 expert is Mary C. Choksi and she is "independent" as defined under the relevant Securities and Exchange Commission Rules and Releases.

Item 4.

Principal Accountant Fees and Services.  N/A

Item 5. Audit Committee

of Listed Registrants

Members of the Audit Committee are:  Mary C. Choksi, J. Michael Luttig 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.

Franklin Templeton Investment Solutions, a separate investment group within Franklin Templeton, comprised of investment personnel from the SEC-registered investment advisers listed on Appendix A (hereinafter individually an “Investment Manager” and collectively the "Investment Managers") have delegated the administrative duties with respect to voting proxies for securities to the Franklin Templeton Proxy Group within Franklin Templeton Companies, LLC (the "Proxy Group"), a wholly-owned subsidiary of Franklin Resources, Inc. Franklin Templeton Companies, LLC provides a variety of general corporate services to its affiliates, including, but not limited to, legal and compliance activities. Proxy duties consist of disseminating proxy materials and analyses of issuers whose stock is owned by any client (including both investment companies and any separate accounts managed by the Investment Managers) that has either delegated proxy voting administrative responsibility to the Investment Managers or has asked for information and/or recommendations on the issues to be voted. The Investment Managers will inform Advisory Clients that have not delegated the voting responsibility but that have requested voting advice about the Investment Managers’ views on such proxy votes. The Proxy Group also provides these services to other advisory affiliates of the Investment Managers.

The Proxy Group will process proxy votes on behalf of, and the Investment Managers vote proxies solely in the best interests of, separate account clients, the Investment Managers’-managed investment company shareholders, or shareholders of funds that have appointed Franklin Templeton International Services S.à.r.l. (“FTIS S.à.r.l.”) as the Management Company, provided such funds or clients have properly delegated such responsibility in writing, or, where employee benefit plan assets subject to the Employee Retirement Income Security Act of 1974, as amended, are involved (“ERISA accounts”), in the best interests of the plan participants and beneficiaries (collectively, "Advisory Clients"), unless (i) the power to vote has been specifically retained by the named fiduciary in the documents in which the named fiduciary appointed the Investment Managers or (ii) the documents otherwise expressly prohibit the Investment Managers from voting proxies. The Investment Managers recognize that the exercise of voting rights on securities held by ERISA plans for which the Investment Managers have voting responsibility is a fiduciary duty that must be exercised with care, skill, prudence and diligence.

In certain circumstances, Advisory Clients are permitted to direct their votes in a solicitation pursuant to the Investment Management Agreement. An Advisory Client that wishes to direct its vote shall give reasonable prior written notice to the Investment Managers indicating such intention and provide written instructions directing the Investment Managers or the Proxy Group to vote regarding the solicitation. Where such prior written notice is received, the Proxy Group will vote proxies in accordance with such written notification received from the Advisory Client.

The Investment Managers have adopted and implemented Proxy Voting Policies and Procedures (“Proxy Policies”) that they believe are reasonably designed to ensure that proxies are voted in the best interest of Advisory Clients in accordance with their fiduciary duties and rule 206(4)-6 under the Investment Advisers Act of 1940. To the extent that the Investment Managers have a subadvisory agreement with an affiliated investment manager (the “Affiliated Subadviser”) with respect to a particular Advisory Client, the Investment Managers may delegate proxy voting responsibility to the Affiliated Subadviser. The Investment Managers may also delegate proxy voting responsibility to a subadviser that is not an Affiliated Subadviser in certain limited situations as disclosed to fund shareholders (e.g., where an Investment Manager to a pooled investment vehicle has engaged a subadviser that is not an Affiliated Subadviser to manage all or a portion of the assets).

HOW THE INVESTMENT MANAGERS VOTE PROXIES

Proxy Services

All proxies received by the Proxy Group will be voted based upon the Investment Managers’ instructions and/or policies. To assist it in analyzing proxies of equity securities, the Investment Managers subscribe to Institutional Shareholder Services Inc. ("ISS"), an unaffiliated third-party corporate governance research service that provides in-depth analyses of shareholder meeting agendas and vote recommendations. In addition, the Investment Managers subscribe to ISS’s Proxy Voting Service and Vote Disclosure Service. These services include receipt of proxy ballots, custodian bank relations, account maintenance, vote execution, ballot reconciliation, vote record maintenance, comprehensive reporting capabilities, and vote disclosure services. Also, the Investment Managers subscribe 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.

Although analyses provided by ISS, Glass Lewis, 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 Managers do not consider recommendations from a Proxy Service or any third-party to be determinative of the Investment Managers’ ultimate decision. Rather, the Investment Managers exercise their independent judgment in making voting decisions. As a matter of policy, the officers, directors and employees of the Investment Managers and the Proxy Group will not be influenced by outside sources whose interests conflict with the interests of Advisory Clients.

For ease of reference, the Proxy Policies often refer to all Advisory Clients. However, our processes and practices seek to ensure that proxy voting decisions are suitable for individual Advisory Clients. In some cases, the Investment Managers’ evaluation may result in an individual Advisory Client or Investment Manager voting differently, depending upon the nature and objective of the fund or account, the composition of its portfolio, whether the Investment Manager has adopted a specialty or custom voting policy, and other factors.

Conflicts of Interest

All conflicts of interest will be resolved in the best interests of the Advisory Clients. The Investment Managers are affiliates of a large, diverse financial services firm with many affiliates and makes its best efforts to mitigate conflicts of interest. However, as a general matter, the Investment Managers take the position that relationships between certain affiliates that do not use the “Franklin Templeton” name (“Independent Affiliates”) and an issuer (e.g., an investment management relationship between an issuer and an Independent Affiliate) do not present a conflict of interest for an Investment Manager in voting proxies with respect to such issuer because: (i) the Investment Managers operate as an independent business unit from the Independent Affiliate business units, and (ii) informational barriers exist between the Investment Managers and the Independent Affiliate business units.

Material conflicts of interest could arise in a variety of situations, including as a result of the Investment Managers’ or an affiliate’s (other than an Independent Affiliate as described above): (i) material business relationship with an issuer or proponent, (ii) direct or indirect pecuniary interest in an issuer or proponent; or (iii) significant personal or family relationship with an issuer or proponent.

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. The Proxy Group gathers and analyzes this information on a best-efforts basis, as much of this information is provided directly by individuals and groups other than the Proxy Group, and the Proxy Group relies on the accuracy of the information it receives from such parties.

Nonetheless, even though a potential conflict of interest between the Investment Managers or an affiliate (other than an Independent Affiliate as described above) and an issuer may exist: (1) the Investment Managers may vote in opposition to the recommendations of an issuer’s management even if contrary to the recommendations of a third-party proxy voting research provider; (2) if management has made no recommendations, the Proxy Group may defer to the voting instructions of the Investment Managers; and (3) with respect to shares held by Franklin Resources, Inc. or its affiliates for their own corporate accounts, such shares may be voted without regard to these conflict procedures.

Otherwise, in

situations where a material conflict of interest is identified between the Investment Managers or one of its affiliates (other than Independent Affiliates) and an issuer, the Proxy Group may vote consistent with the voting recommendation of a Proxy Service or send the proxy directly to the relevant Advisory Clients with the Investment Managers’ recommendation regarding the vote for approval. To address certain affiliate conflict situations, the Investment Managers will employ pass-through voting or mirror voting when required pursuant to a fund’s governing documents or applicable law.

Where the Proxy Group refers a matter to an Advisory Client, it may rely upon the instructions of a representative of the Advisory Client, such as the board of directors or trustees, a committee of the board, or an appointed delegate in the case of a U.S. registered investment company, a conducting officer in the case of a fund that has appointed FTIS S.à.r.l as its Management Company, the Independent Review Committee for Canadian investment funds, or a plan administrator in the case of an employee benefit plan. A quorum of the board of directors or trustees or of a committee of the board can be reached by a majority of members, or a majority of non-recused members. The Proxy Group may determine to vote all shares held by Advisory Clients of the Investment Managers and affiliated Investment Managers (other than Independent Affiliates) in accordance with the instructions of one or more of the Advisory Clients.

The Investment Managers may also decide whether to vote proxies for securities deemed to present conflicts of interest that are sold following a record date, but before a shareholder meeting date. The Investment Managers may consider various factors in deciding whether to vote such proxies, including the Investment Managers’ long-term view of the issuer’s securities for investment, or it may defer the decision to vote to the applicable Advisory Client. The Investment Managers also may be unable to vote, or choose not to vote, a proxy for securities deemed to present a conflict of interest for any of the reasons outlined in the first paragraph of the section of these policies entitled “Proxy Procedures.”

Weight Given Management Recommendations

One of the primary factors the Investment Managers consider when determining the desirability of investing in a particular company is the quality and depth of that company's management. Accordingly, the recommendation of management on any issue is a factor that the Investment Managers consider in determining how proxies should be voted. However, the Investment Managers do not consider recommendations from management to be determinative of the Investment Managers’ ultimate decision. Each issue is considered on its own merits, and the Investment Managers will not support the position of a company's management in any situation where it determines that the ratification of management's position would adversely affect the investment merits of owning that company's shares.

Engagement with Issuers

The Investment Managers believe that engagement with issuers is important to good corporate governance and to assist in making proxy voting decisions. The Investment Managers 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 Managers may also engage with management on a range of environmental, social or corporate governance issues throughout the year.

THE PROXY GROUP

The Proxy Group is part of the Franklin Templeton Companies, LLC Legal Department and is overseen by legal counsel. Full-time staff members and support staff (which includes individuals that are employees of affiliates of Franklin Templeton Companies, LLC) are devoted to proxy voting administration and oversight and providing support and assistance where needed. On a daily basis, the Proxy Group will review each proxy upon receipt as well as any agendas, materials and recommendations that they receive from a Proxy Service or other sources. The Proxy Group maintains a record of all shareholder meetings that are scheduled for companies whose securities are held by the Investment Managers’ managed funds and accounts. For each shareholder meeting, a member of the Proxy Group will consult with the research analyst that follows the security and provide the analyst with the agenda, analyses of one or more Proxy Services, recommendations and any other information provided to the Proxy Group. Except in situations identified as presenting material conflicts of interest, the Investment Managers’ research analyst and relevant portfolio manager(s) are responsible for making the final voting decision based on their review of the agenda, analyses of one or more Proxy Services, proxy statements, their knowledge of the company and any other information publicly available.

In situations where the Investment Managers have not responded with vote recommendations to the Proxy Group by the deadline date, the Proxy Group may vote consistent with the vote recommendations of a Proxy Service. Except in cases where the Proxy Group is voting consistent with the voting recommendation of a Proxy Service, the Proxy Group must obtain voting instructions from the Investment Managers’ research analysts, relevant portfolio manager(s), legal counsel and/or the Advisory Client prior to submitting the vote. In the event that an account holds a security that an Investment Manager did not purchase on its behalf, and the Investment Manager does not normally consider the security as a potential investment for other accounts, the Proxy Group may vote consistent with the voting recommendations of a Proxy Service or take no action on the meeting.

PROXY PROCEDURES

The Proxy Group is fully cognizant of its responsibility to process proxies and maintain proxy records as may be required by relevant rules and regulations. In addition, the Investment Managers understand their fiduciary duty to vote proxies and that proxy voting decisions may affect the value of shareholdings. Therefore, the Investment Managers will generally attempt to process every proxy it receives for all domestic and foreign securities. However, there may be situations in which the Investment Managers 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 an 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 Managers held shares on the record date but has sold them prior to the meeting date; (vii) the Advisory Client held shares on the record date, but the Advisory Client closed the account prior to the meeting date; (viii) a proxy voting service is not offered by the custodian in the market; (ix) due to either system error or human error, the Investment Managers’ intended vote is not correctly submitted; (x) the Investment Managers believe it is not in the best interest of the Advisory Client to vote the proxy for any other reason not enumerated herein; or (xi) a security is subject to a securities lending or similar program that has transferred legal title to the security to another person.

Rejected Votes

Even if the Investment Managers use reasonable efforts to vote a proxy on behalf of its Advisory Clients, 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 Managers do not have sufficient notice; or (c) the exercise by the issuer of its discretion to reject the vote of the Investment Managers. In addition, despite the best efforts of the Proxy Group and its agents, there may be situations where the Investment Managers’ votes are not received, or properly tabulated, by an issuer or the issuer’s agent.

Securities on Loan

The Investment Managers or their affiliates may, on behalf of one or more of the proprietary registered investment companies advised by the Investment Managers or their affiliates, make efforts  to recall any security on loan where the Investment Manager or its affiliates (a) learn of a vote on an event that may materially 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. The ability to timely recall shares is not entirely within the control of the Investment Managers. Under certain circumstances, the recall of shares in time for such shares to be voted may not be possible due to applicable proxy voting record dates or other administrative considerations.

Split Voting

There may be instances in certain non-U.S. markets where split voting is not allowed. Split voting occurs when a position held within an account is voted in accordance with two differing instructions. Some markets and/or issuers only allow voting on an entire position and do not accept split voting. In certain cases, when more than one Franklin Templeton investment manager has accounts holding shares of an issuer that are held in an omnibus structure, the Proxy Group will seek direction from an appropriate representative of the Advisory Client with multiple Investment Managers (such as a conducting officer of the Management Company in the case of a SICAV), or the Proxy Group will submit the vote based on the voting instructions provided by the Investment Manager with accounts holding the greatest number of shares of the security within the omnibus structure.

Bundled Items

If several issues are bundled together in a single voting item, the Investment Managers will assess the total benefit to shareholders and the extent that such issues should be subject to separate voting proposals.

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 Managers for each account or fund involved. If the Proxy Group does not receive voting instructions from the Investment Managers, the Proxy Group will take no action on the event. The Investment Managers may be unable to vote a proxy for a fixed income security, or may choose not to vote a proxy, for the reasons described under the section entitled “Proxy Procedures.”

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 Managers may nonetheless vote as it deems in the best interests of its Advisory Clients. The Investment Managers will report such decisions on an annual basis to Advisory Clients as may be required.

Appendix A

These Proxy Policies apply to accounts managed by personnel within

Franklin Templeton Investment Solutions, which includes the following Investment Managers:

Franklin Advisers, Inc. (FAV)

Franklin Advisory Services, LLC (FASL)

Franklin Mutual Advisers LLC (FMA)

Franklin Templeton Investments Corp. (FTIC)

Franklin Templeton Investment Management Limited (FTIML)

Templeton Asset Management Ltd. (TAML)

The following Proxy Policies apply to FAV, FMA, FTIC, FTIML, and TAML only:

HOW THE INVESTMENT MANAGERS VOTE PROXIES

Proxy Services

Certain of the Investment Managers’ separate accounts or funds (or a portion thereof) are included under Franklin Templeton Investment Solutions (“FTIS”), a separate investment group within Franklin Templeton, and employ a quantitative strategy.

For such accounts, FTIS’s proprietary methodologies rely on a combination of quantitative, qualitative, and behavioral analysis rather than fundamental security research and analyst coverage that an actively managed portfolio would ordinarily employ. Accordingly, absent client direction, in light of the high number of positions held by such accounts and the considerable time and effort that would be required to review proxy statements and ISS or Glass Lewis recommendations, the Investment Manager may review ISS’s non-US Benchmark guidelines, ISS’s specialty guidelines (in particular, ISS’s Sustainability guidelines), or Glass Lewis’s US guidelines (the “the ISS and Glass Lewis Proxy Voting Guidelines”) and determine, consistent with the best interest of its clients, to provide standing instructions to the Proxy Group to vote proxies according to the recommendations of ISS or Glass Lewis.

The Investment Manager, however, retains the ability to vote a proxy differently than ISS or Glass Lewis recommends if the Investment Manager determines that it would be in the best interests of Advisory Clients (for example, where an issuer files additional solicitation materials after a Proxy Service has issued its voting recommendations but sufficiently before the vote submission deadline and these materials would reasonably be expected to affect the Investment Manager’s voting determination).

The following Proxy Policies apply to FASL only:

HOW THE INVESTMENT MANAGERS VOTE PROXIES

Proxy Services

The Franklin LibertyQ branded smart beta exchange traded funds and other passively managed exchange traded funds (collectively, “ETFs”), seek to track a particular securities index. As a result, each ETF may hold the securities of hundreds of issuers. Because the primary criteria for determining whether a security should be included (or continued to be included) in an ETF’s investment portfolio is whether such security is a representative component of the securities index that the ETF is seeking to track, the ETFs do not require the fundamental security research and analyst coverage that an actively managed portfolio would require.  Accordingly, in light of the high number of positions held by an ETF and the considerable time and effort that would be required to review proxy statements and ISS or Glass Lewis recommendations, the Investment Manager may review ISS’s non-US Benchmark guidelines, ISS’s specialty guidelines (in particular, ISS’s Sustainability guidelines), or Glass Lewis’s US guidelines (the “ISS and Glass Lewis Proxy Voting Guidelines”) and determine, consistent with the best interest of its clients, to provide standing instructions to the Proxy Group to vote proxies according to the recommendations of ISS or Glass Lewis rather than analyze each individual proxy vote.  Permitting the Investment Manager of the ETFs to defer its judgment for voting on a proxy to the recommendations of ISS or Glass Lewis may result in a proxy related to the securities of a particular issuer held by an ETF being voted differently from the same proxy that is voted on by other funds managed by the Investment Managers.

The following Proxy Policies apply to FTIC, FTIML, and TAML only:

HOW THE INVESTMENT MANAGERS VOTE PROXIES

Proxy Services

For accounts managed by the Templeton Global Equity Group (“TGEG”), in making voting decisions, the Investment Manager may consider Glass Lewis’s Proxy Voting Guidelines, ISS’s Benchmark Policies, ISS’s Sustainability Policy, and TGEG’s custom sustainability guidelines, which reflect what TGEG believes to be good environmental, social, and governance practices.

The following Proxy Policies apply to FTIC only:

RESPONSIBILITY OF THE INVESTMENT MANAGERS TO VOTE PROXIES

To the extent that the Investment Manager has a subadvisory agreement with an affiliated investment manager (the “Affiliated Subadviser”) with respect to a particular Advisory Client or the Investment Manager chooses securities for an Advisory Client’s portfolios that are recommended by an Affiliated Subadviser, the Investment Manager may delegate proxy voting responsibility to the Affiliated Subadviser or vote proxies in accordance with the Affiliated Subadviser’s recommendations.

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

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

	(a)	(b)	(c)	(d)
Period	Total Number of Shares Purchased	Average Price Paid per Share	Total Number of Shares Purchased as Part of Publicly Announced Plans or Program	Maximum Number (or Approximate Dollar Value) of Shares that May Yet Be Purchased Under the Plans or Programs
Month #1 (1/1/22 - 1/31/22)	13,378.000	5.15	13,378.000	10,266,314.90
Month #2 (2/1/22 - 2/28/22)	61,622.000	5.15	61,622.000	10,204,692.90
Month #3 (3/1/22 - 3/31/22)	-	-	-	10,204,692.90
Month #4 (4/1/22 - 4/30/22)	-	-	-	10,204,692.90
Month #5 (5/1/22 - 5/31/22)	-	-	-	10,204,692.90
Month #6 (6/1/22 - 6/30/22)	–	–	–	10,204,692.90
Total	75,000.000		75,000.000

The Board previously authorized an open-market share repurchase program pursuant to which the Fund may purchase, from time to time, Fund shares in open-market transactions, at the discretion of management. Effective February 26, 2013, the Board approved a modification to the Fund’s previously announced open-market share repurchase program to authorize the Fund to repurchase up to 10% of the Fund’s shares outstanding in open market transactions as of that date, at the discretion of management. Since the inception of the program, the Fund had repurchased a total of 11,285,400 shares.

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

codeofethics

(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 Christopher Kings, Chief Financial Officer, Chief Accounting Officer and Treasurer

section302

(a)(2)(1) There were no written solicitations to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the Registrant to 10 or more persons.

(a)(2)(2) There was no change in the Registrant’s independent public accountant during the period covered by the report.

(b)

Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of Matthew T. Hinkle, Chief Executive Officer - Finance and Administration, and Christopher Kings, Chief Financial Officer, Chief Accounting Officer and Treasurer

section906

(c)

Pursuant to the Securities and Exchange Commission’s Order granting relief from Section 19(b) of the Investment Company Act of 1940, the 19(a) Notices to Beneficial Owners are attached hereto as Exhibit.

section19b

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  August 26, 2022

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  August 26, 2022

By S\CHRISTOPHER KINGS______________________

      Christopher Kings

      Chief Financial Officer, Chief Accounting Officer and Treasurer

Date  August 26, 2022

EX-99.CODE ETH

Code of Ethics for Principal Executives & Senior Financial Officers

 
Procedures   Revised December 19, 2014

FRANKLIN TEMPLETON FUNDS

CODE OF ETHICS FOR PRINCIPAL EXECUTIVES AND SENIOR FINANCIAL OFFICERS

I.Covered Officers and Purpose of theCode

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 professionalrelationships;

·

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

·

Compliance with applicable laws and governmental rules andregulations;

·

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

·

Accountability for adherence to theCode.

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.

*

Rule38a-1underthe InvestmentCompanyActof1940(“1940Act”)andRule206(4)-7undertheInvestmentAdvisersActof 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 andProcedures”).

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 RightsReserved.

II.Other Policies andProcedures

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 employeepolicies.

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 toyou.

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

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 CoveredOfficer would benefit personally to the detriment of the FTFunds;

·

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 FTFunds;

·

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 goodfaith;

·

Report at least annually the following affiliations or otherrelationships:

1

o

all directorships for public companies and all companies that are required to file reports with theSEC;

o

any direct or indirect business relationship with any independent directors ofthe FTFunds;

o

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

o

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 FranklinResources).

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 include

2

:

·

Service as a director on the board of any public or privateCompany.

1

ReportingoftheseaffiliationsorotherrelationshipsshallbemadebycompletingtheannualDirectorsandOfficersQuestionnaire and returning the questionnaire to Franklin Resources Inc, General Counsel or Deputy GeneralCounsel.

2

AnyactivityorrelationshipthatwouldpresentaconflictforaCovered OfficermayalsopresentaconflictfortheCovered 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.

3

·

The receipt of any gifts in excess of $100 from any person, from any corporationor 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 raiseany 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 ofthe FT Fund’s service providers, other than an investment adviser, principal underwriter, administrator or any affiliated personthereof.

·

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 equityownership.

·

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

IV.Disclosure andCompliance

·

Each Covered Officer should familiarize himself with the disclosurerequirements generally applicable to the FTFunds;

·

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 governmentalregulators and self-regulatoryorganizations;

·

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 andregulations.

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 ExhibitB);

·

Annually thereafter affirm to the Board that he has complied with the requirements ofthe 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 ofthis

4

Code.

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 waivers

4

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 allappropriate action to investigate any potential violations reported to the LegalDepartment;

·

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 anyfurther action;

·

Any matter that the General Counsel or Deputy General Counsel believes is aviolation will be reported to the Independent Directors of the appropriate FTFund;

·

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 willconsider 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 CoveredOfficer;

·

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 disclosedas provided by SECrules.

5

VI.Other Policies andProcedures

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 thisCode.

3

FranklinResourcesGeneralCounselandDeputyGeneralCounselareauthorizedtoconsult,asappropriate,withmembersofthe AuditCommittee, counseltotheFTFundsandcounseltotheIndependentDirectors,andareencouragedtodoso.

4

Item2ofFormN-CSRdefines"waiver"as"theapprovalbytheregistrantofamaterialdeparturefromaprovisionofthecodeof

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 PartX.

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.InternalUse

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 FormN-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 thisintention.

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 theCode is disclosed in the registrant's annual report on FormN-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.

EXHIBIT A

Persons Covered by the Franklin Templeton Funds Code of Ethics

January 1, 2022

FRANKLIN GROUP OF FUNDS

EdwardPerks                           President and Chief Executive Officer – Investment Management

Rupert H.Johnson,Jr.               Chairman of the Board and VicePresident

MichaelMcCarthy                      President and Chief Executive Officer – Investment Management

Sonal Desai,PhD                     President and Chief Executive Officer – Investment Management

MatthewHinkle                          Chief Executive Officer – Finance andAdministration

Christopher Kings                     Chief Financial Officer and Chief Accounting Officer and Treasurer

FRANKLIN MUTUAL SERIES FUNDS

Christian K. Correa                    Chief Executive Officer – Investment Management

MatthewHinkle                          Chief Executive Officer – Finance and Administration

Christopher Kings                     Chief Financial Officer and Chief Accounting Officer and Treasurer

FRANKLIN ALTERNATIVE STRATEGIES FUNDS

BrooksRitchey                          President and Chief Executive Officer – Investment Management

MatthewHinkle                          Chief Executive Officer – Finance andAdministration

Christopher Kings                     Chief Financial Officer, Chief Accounting Officer and Treasurer

TEMPLETON GROUP OF FUNDS

Rupert H.JohnsonJr.                Chairman of the Board and VicePresident

ManrajS.Sekhon                      President and Chief Executive Officer – Investment Management

Michael Hasenstab, Ph.D.          President and Chief Executive Officer – Investment Management

AlanBartlett                              President and Chief Executive Officer – Investment Management

MatthewHinkle                          Chief Executive Officer – Finance andAdministration

Christopher Kings                     Chief Financial Officer, Chief Accounting Officer and Treasurer

Exhibit B ACKNOWLEDGMENT FORM

Franklin Templeton Funds Code of Ethics

For Principal Executives and Senior Financial Officers

Instructions:

1.Complete all sections of thisform.

2.Print the completed form, sign, anddate.

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.

E-mail:      Code of Ethics Inquiries & Requests (internal address);

lpreclear@franklintempleton.com

(externaladdress)

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

EX-99.H OTH MAT CONT

TEMPLETON GLOBAL INCOME FUND

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

FOR IMMEDIATE RELEASE:

For more information, please contact Franklin Templeton at 1-800-342-5236.

TEMPLETON GLOBAL INCOME FUND (“GIM” or the “Fund”)

ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS

Fort Lauderdale, Florida, January 28, 2022.

Templeton Global Income Fund [NYSE: GIM]

The Fund’s estimated sources of the distribution to be paid on January 31, 2022, and for the fiscal year 2021 year-to-date are as follows:

Estimated Allocations for Monthly Distribution as of December 31, 2021:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0345	$0.0050 (14%)	$0.0000 (0%)	$0.00 (0%)	$0.0295 (86%)

Cumulative Estimated Allocations fiscal year-to-date through December 31, 2021, for the fiscal year ending December 31, 2021:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.3734	$0.2267 (61%)	$0.0000 (0%)	$0.00 (0%)	$0.1467 (39%)

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Plan.  GIM estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the GIM distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect GIM’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 12/31/2021)1	Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 12/31/2021)2	Cumulative Total Return (in relation to the change in NAV for the fiscal period through 12/31/2021)3	Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of  NAV as of 12/31/2021)4
-0.99%	7.58%	-4.62%	6.84%

Fund Performance and Distribution Rate Information:

1.

Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through December 31, 2021. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions

paid.

2.

The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV through December 31,2021.

3.

Cumulative Total Return is the percentage change in the Fund’s NAV from December 31, 2020 through December 31, 2021, assuming reinvestment of distributions

paid.

4.

The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2020 through December 31, 2021, as a percentage of the Fund’s NAV as of December 31,2021.

The Fund’s Board

of Trustees (the “Board”)

has authorized a managed distribution plan pursuant to which the Fund makes monthly distributions to shareholders at an annual minimum fixed rate of 7.5%, based on the average monthly NAV of the Fund’s common shares (the “Plan”). The Fund calculates the average NAV from the previous month based on the number of business days in the month on which the NAV is calculated. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

For further information on Templeton Global Income Fund, please visit our web site at:

www.franklintempleton.com

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 165 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company brings extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and over $1.5 trillion in assets under management as of December 31, 2021. For more information, please visit franklintempleton.com.

#                      #                      #

TEMPLETON GLOBAL INCOME FUND

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

FOR IMMEDIATE RELEASE:

For more information, please contact Franklin Templeton at 1-800-342-5236.

TEMPLETON GLOBAL INCOME FUND (“GIM” or the “Fund”)

ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS

Fort Lauderdale, Florida, February 25, 2022. Templeton Global Income Fund [NYSE: GIM]

The Fund’s estimated sources of the distribution to be paid on February 28, 2022, and for the fiscal year 2022 year-to-date are as follows:

Estimated Allocations for Monthly Distribution as of January 31, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0342	$0.0145 (42%)	$0.0000 (0%)	$0.00 (0%)	$0.0197 (58%)

Cumulative Estimated Allocations fiscal year-to-date through January 31, 2022, for the fiscal year ending December 31, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0345	$0.0050 (14%)	$0.0000 (0%)	$0.00 (0%)	$0.0295 (86%)

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Plan.  GIM estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the GIM distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect GIM’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 01/31/2022)1	Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 01/31/2022)2	Cumulative Total Return (in relation to the change in NAV for the fiscal period through 01/31/2022)3	Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of  NAV as of 01/31/2022)4
-1.01%	7.56%	0.08%	0.64%

Fund Performance and Distribution Rate Information:

1.

Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through January 31, 2022. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions

paid.

2.

The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV through January 31, 2022.

3.

Cumulative Total Return is the percentage change in the Fund’s NAV from December 31, 2021 through January 31, 2022, assuming reinvestment of distributions

paid.

4.

The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2021 through January 31, 2022, as a percentage of the Fund’s NAV as of January 31, 2022.

The Fund’s Board of Trustees (the “Board”) has authorized a managed distribution plan pursuant to which the Fund makes monthly distributions to shareholders at an annual minimum fixed rate of 7.5%, based on the average monthly NAV of the Fund’s common shares (the “Plan”). The Fund calculates the average NAV from the previous month based on the number of business days in the month on which the NAV is calculated. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

For further information on Templeton Global Income Fund, please visit our web site at:

www.franklintempleton.com

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and over $1.5 trillion in assets under management as of January 31, 2022. For more information, please visit franklintempleton.com.

#                      #                      #

TEMPLETON GLOBAL INCOME FUND

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

FOR IMMEDIATE RELEASE:

For more information, please contact Franklin Templeton at 1-800-342-5236.

TEMPLETON GLOBAL INCOME FUND (“GIM” or the “Fund”)

ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS

Fort Lauderdale, Florida, March 30, 2022. Templeton Global Income Fund [NYSE: GIM]

The Fund’s estimated sources of the distribution to be paid on March 31, 2022, and for the fiscal year 2022 year-to-date are as follows:

Estimated Allocations for Monthly Distribution as of February 28, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0362	$0.0141 (39%)	$0.0000 (0%)	$0.00 (0%)	$0.0221 (61%)

Cumulative Estimated Allocations fiscal year-to-date through February 28, 2022, for the fiscal year ending December 31, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0687	$0.0195 (28%)	$0.0000 (0%)	$0.00 (0%)	$0.0492 (72%)

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Plan.  GIM estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the GIM distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect GIM’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 02/28/2022)1	Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 02/28/2022)2	Cumulative Total Return (in relation to the change in NAV for the fiscal period through 02/28/2022)3	Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of  NAV as of 02/28/2022)4
-1.61%	8.10%	-0.58%	1.28%

Fund Performance and Distribution Rate Information:

1.

Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through February 28, 2022. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions

paid.

2.

The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV through February 28, 2022.

3.

Cumulative Total Return is the percentage change in the Fund’s NAV from December 31, 2021 through February 28, 2022, assuming reinvestment of distributions

paid.

4.

The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2021 through February 28, 2022, as a percentage of the Fund’s NAV as of February 28, 2022.

The Fund’s Board of Trustees (the “Board”)

recently

authorized

an increase to GIM’s

managed distribution plan pursuant to which the Fund

will make

monthly distributions to shareholders at an annual minimum fixed rate of

8%, an increase from the previously authorized 7.5%,

based on the average monthly net asset value (NAV) of the Fund’s common shares (the “Plan”). Management believes that the increased distribution rate will benefit shareholders consistent with the Fund’s investment goal to seek high, current income.

The Fund calculates the average NAV from the previous month based on the number of business days in the month on which the NAV is calculated. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

For further information on Templeton Global Income Fund, please visit our web site at:

www.franklintempleton.com

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.5 trillion in assets under management as of February 28, 2022. For more information, please visit franklintempleton.com.

#                      #                      #

TEMPLETON GLOBAL INCOME FUND

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

FOR IMMEDIATE RELEASE:

For more information, please contact Franklin Templeton at 1-800-342-5236.

TEMPLETON GLOBAL INCOME FUND (“GIM” or the “Fund”)

ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS

Fort Lauderdale, Florida, April 28, 2022. Templeton Global Income Fund [NYSE: GIM]

The Fund’s estimated sources of the distribution to be paid on April 29, 2022, and for the fiscal year 2022 year-to-date are as follows:

Estimated Allocations for April Monthly Distribution as of March 31, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0362	$0.0150 (42%)	$0.0000 (0%)	$0.00 (0%)	$0.0212 (58%)

Cumulative Estimated Allocations fiscal year-to-date as of March 31, 2022, for the fiscal year ending December 31, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.1049	$0.0336 (32%)	$0.0000 (0%)	$0.00 (0%)	$0.0713 (68%)

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Plan.  GIM estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the GIM distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect GIM’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 03/31/2022)1	Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 03/31/2022)2	Cumulative Total Return (in relation to the change in NAV for the fiscal period through 03/31/2022)3	Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of  NAV as of 03/31/2022)4
-1.82%	8.09%	0.28%	1.95%

Fund Performance and Distribution Rate Information:

1.

Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through March 31, 2022. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions

paid.

2.

The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV through March 31, 2022.

3.

Cumulative Total Return is the percentage change in the Fund’s NAV from December 31, 2021 through March 31, 2022, assuming reinvestment of distributions

paid.

4.

The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2021 through March 31, 2022, as a percentage of the Fund’s NAV as of March 31, 2022.

The Fund’s Board of Trustees (the “Board”) has authorized a managed distribution plan pursuant to which the Fund makes monthly distributions to shareholders at an annual minimum fixed rate of 8%, based on the average monthly NAV of the Fund’s common shares (the “Plan”). The Fund calculates the average NAV from the previous month based on the number of business days in the month on which the NAV is calculated. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

For further information on Templeton Global Income Fund, please visit our web site at:

www.franklintempleton.com

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.5 trillion in assets under management as of March 31, 2022. For more information, please visit franklintempleton.com.

#                      #                      #

TEMPLETON GLOBAL INCOME FUND

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

FOR IMMEDIATE RELEASE:

For more information, please contact Franklin Templeton at 1-800-342-5236.

TEMPLETON GLOBAL INCOME FUND (“GIM” or the “Fund”)

ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS

Fort Lauderdale, Florida, May 27, 2022. Templeton Global Income Fund [NYSE: GIM]

The Fund’s estimated sources of the distribution to be paid on May 31, 2022, and for the fiscal year 2022 year-to-date are as follows:

Estimated Allocations for May Monthly Distribution as of April 30, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0354	$0.0157 (44%)	$0.0000 (0%)	$0.00 (0%)	$0.0197 (56%)

Cumulative Estimated Allocations fiscal year-to-date as of April 30, 2022, for the fiscal year ending December 31, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.1411	$0.0487 (35%)	$0.0000 (0%)	$0.00 (0%)	$0.0924 (65%)

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Plan.  GIM estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the GIM distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect GIM’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 04/30/2022)1	Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 04/30/2022)2	Cumulative Total Return (in relation to the change in NAV for the fiscal period through 04/30/2022)3	Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of  NAV as of 04/30/2022)4
-2.61%	8.33%	-4.09%	2.77%

Fund Performance and Distribution Rate Information:

1.

Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through April 30, 2022. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions

paid.

2.

The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV through April 30, 2022.

3.

Cumulative Total Return is the percentage change in the Fund’s NAV from December 31, 2021 through April 30, 2022, assuming reinvestment of distributions

paid.

4.

The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2021 through April 30, 2022, as a percentage of the Fund’s NAV as of April 30, 2022.

The Fund’s Board of Trustees (the “Board”) has authorized a managed distribution plan pursuant to which the Fund makes monthly distributions to shareholders at an annual minimum fixed rate of 8%, based on the average monthly NAV of the Fund’s common shares (the “Plan”). The Fund calculates the average NAV from the previous month based on the number of business days in the month on which the NAV is calculated. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

For further information on Templeton Global Income Fund, please visit our web site at:

www.franklintempleton.com

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.5 trillion in assets under management as of April 30, 2022. For more information, please visit franklintempleton.com.

#                      #                      #

TEMPLETON GLOBAL INCOME FUND

300 S.E. 2nd Street

Fort Lauderdale, FL 33301

FOR IMMEDIATE RELEASE:

For more information, please contact Franklin Templeton at 1-800-342-5236.

TEMPLETON GLOBAL INCOME FUND (“GIM” or the “Fund”)

ANNOUNCES NOTIFICATION OF SOURCES OF DISTRIBUTIONS

Fort Lauderdale, Florida, June 29, 2022. Templeton Global Income Fund [NYSE: GIM]

The Fund’s estimated sources of the distribution to be paid on June 30, 2022, and for the fiscal year 2022 year-to-date are as follows:

Estimated Allocations for June Monthly Distribution as of May 31, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.0352	$0.0161 (46%)	$0.0000 (0%)	$0.00 (0%)	$0.0191 (54%)

Cumulative Estimated Allocations fiscal year-to-date as of May 31, 2022, for the fiscal year ending December 31, 2022:

Distribution Per Share	Net Investment Income	Net Realized Short-Term Capital Gains	Net Realized Long-Term Capital Gains	Return of Capital
$0.1765	$0.0644 (36%)	$0.0000 (0%)	$0.00 (0%)	$0.1121 (64%)

Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of this distribution or from the terms of the Plan.  GIM estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of the GIM distribution to shareholders may be a return of capital. A return of capital may occur, for example, when some or all of the money that a shareholder invested in a Fund is paid back to them. A return of capital distribution does not necessarily reflect GIM’s investment performance and should not be confused with ‘yield’ or ‘income’. The amounts and sources of distributions reported herein are only estimates and are not being provided for tax reporting purposes.  The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send a Form 1099-DIV to shareholders for the calendar year that will describe how to report the Fund’s distributions for federal income tax purposes.

Average Annual Total Return (in relation to the change in net asset value (NAV) for the 5-year period ended on 05/31/2022)1	Annualized Distribution Rate (as a percentage of NAV for the current fiscal period through 05/31/2022)2	Cumulative Total Return (in relation to the change in NAV for the fiscal period through 05/31/2022)3	Cumulative Fiscal Year-To-Date Distribution Rate (as a percentage of  NAV as of 05/31/2022)4
-2.15%	8.27%	-3.23%	3.45%

Fund Performance and Distribution Rate Information:

1.

Average Annual Total Return in relation to NAV represents the compound average of the Annual NAV Total Returns of the Fund for the five-year period ended through May 31, 2022. Annual NAV Total Return is the percentage change in the Fund’s NAV over a year, assuming reinvestment of distributions

paid.

2.

The Annualized Distribution Rate is the current fiscal period’s distribution rate annualized as a percentage of the Fund’s NAV through May 31, 2022.

3.

Cumulative Total Return is the percentage change in the Fund’s NAV from December 31, 2021 through May 31, 2022, assuming reinvestment of distributions

paid.

4.

The Cumulative Fiscal Year-To-Date Distribution Rate is the dollar value of distributions for the fiscal period December 31, 2021 through May 31, 2022, as a percentage of the Fund’s NAV as of May 31, 2022.

The Fund’s Board of Trustees (the “Board”) has authorized a managed distribution plan pursuant to which the Fund makes monthly distributions to shareholders at an annual minimum fixed rate of 8%, based on the average monthly NAV of the Fund’s common shares (the “Plan”). The Fund calculates the average NAV from the previous month based on the number of business days in the month on which the NAV is calculated. The Plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there can be no assurance that the Plan will be successful in doing so. The Fund is managed with a goal of generating as much of the distribution as possible from net ordinary income and short-term capital gains, that is consistent with the Fund’s investment strategy and risk profile. To the extent that sufficient distributable income is not available on a monthly basis, the Fund will distribute long-term capital gains and/or return of capital in order to maintain its managed distribution rate. A return of capital may occur, for example, when some or all of the money that was invested in the Fund is paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income”. Even though the Fund may realize current year capital gains, such gains may be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.

The Board may amend the terms of the Plan or terminate the Plan at any time without prior notice to the Fund’s shareholders. The amendment or termination of the Plan could have an adverse effect on the market price of the Fund’s common shares. The Plan will be subject to the periodic review by the Board, including a yearly review of the annual minimum fixed rate to determine if an adjustment should be made.

For further information on Templeton Global Income Fund, please visit our web site at:

www.franklintempleton.com

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 155 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers boutique specialization on a global scale, bringing extensive capabilities in equity, fixed income, multi-asset solutions and alternatives. With offices in more than 30 countries and approximately 1,300 investment professionals, the California-based company has 75 years of investment experience and approximately $1.45 trillion in assets under management as of May 31, 2022. For more information, please visit franklintempleton.com.

#                      #                      #

EX-99.CERT

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.

8/26/2022

S\MATTHEW T. HINKLE

Matthew T. Hinkle

Chief Executive Officer - Finance and Administration

I, Christopher Kings, 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.

8/26/2022

S\CHRISTOPHER KINGS

Christopher Kings

Chief Financial Officer, Chief Accounting Officer and Treasurer

EX-99.906 CERT

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 6/30/2022 (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:  8/26/2022

                                                S\MATTHEW T. HINKLE

                                                Matthew T. Hinkle

Chief Executive Officer - Finance and Administration

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

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

I, Christopher Kings, 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 6/30/2022 (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:  8/26/2022

                                                S\CHRISTOPHER KINGS

                                                Christopher Kings

Chief Financial Officer, Chief Accounting Officer and Treasurer