0001741773-22-001098 Sample Contracts

FORM OF SUB-ADVISORY AGREEMENT
Sub-Advisory Agreement • April 7th, 2022 • Franklin Templeton ETF Trust • California

THIS SUB-ADVISORY AGREEMENT (the “Agreement”), effective as of [ ], is made between FRANKLIN ADVISERS, INC., a California corporation (“FAV”), and BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (“Sub-Adviser”).

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Re: Distribution Agreement
Franklin Templeton ETF Trust • April 7th, 2022 • New York

We, Franklin Templeton ETF Trust (the “Trust”), are a Delaware statutory trust operating as an open-end management investment company, which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and whose shares are registered under the Securities Act of 1933, as amended (the “1933 Act”). We desire to issue one or more series of our authorized but unissued shares of beneficial interest (the “Shares”), generally only in aggregations constituting a Creation Unit, as such term is defined in the registration statement filed from time to time by the Trust with the U.S. Securities and Exchange Commission (the “Commission”) and effective under the 1933 Act and the 1940 Act (the “Registration Statement”), only to Authorized Participants (as that term is defined in the Registration Statement) in accordance with applicable Federal and State securities laws. The Trust’s Shares may be made available in one or more separate series. Shares are anticipated to be listed

AMENDMENT TO INVESTMENT MANAGEMENT AGREEMENT
Investment Management Agreement • April 7th, 2022 • Franklin Templeton ETF Trust

This Amendment, dated as of May 14, 2020, is to each Investment Management Agreement, as amended and/or restated to date (each, an “Agreement”), by and between each Investment Manager identified on Schedule A, each a registered investment adviser (the “Investment Manager”), and each registered investment company (each, an “Investment Company”), on behalf of itself and, as applicable, its separate series (each, a “Series”) identified opposite the Investment Manager’s name on Schedule A.

FORM OF INVESTMENT MANAGEMENT AGREEMENT
Franklin Templeton ETF Trust • April 7th, 2022 • California

THIS INVESTMENT MANAGEMENT AGREEMENT, effective as of [ ] , is made between FRANKLIN TEMPLETON ETF TRUST, a Delaware statutory trust (the “Trust”), on behalf of BRANDYWINEGLOBAL-DYNAMIC US LARGE CAP VALUE ETF (the “Fund”), a series of the Trust, and FRANKLIN ADVISERS, INC., a California corporation (the “Manager”).

AMENDMENT TO SUBADVISORY AGREEMENT
Subadvisory Agreement • April 7th, 2022 • Franklin Templeton ETF Trust

This Amendment, dated as of May 14, 2020, is to each Subadvisory Agreement, as amended and/or restated to date (each, an “Agreement”), by and between each Investment Manager (each, an “Investment Manager”) and corresponding Subadviser (each, a “Subadviser”) identified on Schedule A, each a registered investment adviser, with respect to each registered investment company (each, an “Investment Company”), on behalf of itself and, as applicable, its separate series (each, a “Series”) identified opposite the Investment Manager’s name on Schedule A.

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