Templeton Dragon Fund, Inc. Announces Share Repurchase for the Fourth Quarter of 2025

Templeton Dragon Fund, Inc. announced today its share repurchase activity during the fourth quarter of 2025.

The Fund seeks to enhance shareholder value by repurchasing their common shares when trading at a discount to the Fund's net asset value ("NAV") per share. All repurchased shares are canceled and the difference between the purchase price and NAV results in incremental accretion to the Fund's NAV for all common shareholders.

The Fund's Board of Directors/Trustees has authorized the Fund to repurchase shares when it is trading at a discount to NAV. The Fund's repurchase activity will be disclosed in its shareholder report for the relevant fiscal period.

About Franklin Templeton

Franklin Templeton is a trusted investment partner, delivering tailored solutions that align with clients' strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnerships, forward-looking insights, and continuous innovations – providing the tools and resources to navigate change and capture opportunity.

To learn more, visit franklintempleton.com and follow us on LinkedIn

For more information about the Funds, please call 1-888-777-0102 or consult the Funds' website at www.franklintempleton.com/investments/options/closed-end-funds or www.putnam.com/individual/mutual-funds/closed-end-funds/, with respect to the Putnam Funds. Hard copies of the Funds' complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only.

The Funds' shares are traded on the New York Stock Exchange. Similar to stocks, Fund share prices fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor's risk of loss. All investments are subject to risk, including the risk of loss.

This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from each Fund's present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; disruption to investment advisory, administration and other service arrangements; and other risks discussed in the Fund's filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund's investment objectives will be attained.

INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Category: Corporate Action

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

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Investor Contact: Fund Investor Services 1-888-777-0102

Media Contact: Fund Investor Services 1-888-777-0102