FRANKLIN REAL ESTATE SECURITIES TRUST on behalf of Franklin REAL ESTATE SECURITIES Fund INVESTMENT MANAGEMENT AGREEMENTInvestment Management Agreement • July 1st, 2021 • Franklin Real Estate Securities Trust • California
Contract Type FiledJuly 1st, 2021 Company JurisdictionTHIS INVESTMENT MANAGEMENT AGREEMENT, dated as of November 12, 2020, is made between FRANKLIN REAL ESTATE SECURITIES TRUST, a Delaware statutory trust (the “Trust”), on behalf of Franklin REAL ESTATE SECURITIES FUND (the “Fund”), a series of the Trust, and FRANKLIN ADVISERS, INC., a California corporation (the “Manager”).