NJBEST 529 College Savings Plan Portfolio Performance

1. Source: Saving For College, awarded in September 2025. The factors Saving For College uses to examine and score each 529 plan are grouped into four categories: Performance, Ease of Use, Savings Success, and Program Delivery. A plan's four individual category scores are computed on a scale of 1 to 5 and carried out to two decimal places as displayed on the Plan Details page. The overall 529 Rating is a weighted average of these four category scores. In all of these categories, objective criteria have been established with which to compare plans, often using numerical data as the basis to evaluate a factor's score. For additional details, please refer to the official award website: https://www.savingforcollege.com/529-plan-ratings/criteria. Franklin Templeton did not pay an entry fee for the award.

Important Information

Estimated Underlying Expense Ratio - annual expenses of the share class or units of the underlying investments in which Plan portfolios invest. Underlying fund expenses will vary and, in some cases, have been reduced by fee and expense waivers or reimbursements, which may be modified or discontinued at any time, resulting in lower returns.

There also may be brokerage fees associated with the purchase or sale of some Underlying Funds such as ETFs that also affect the investment return on amounts invested under the applicable Investment Option.

In addition, the Program currently charges a Program fee of 10 basis points (0.10 percent) per annum assessed daily against the assets of each Trust Portfolio except the Franklin U.S. Government Money 529 Portfolio; though that fee is currently not imposed for the Franklin U.S. Government Money 529 Portfolio, it may be imposed in whole or in part at any time, increasing expenses and reducing performance. The Program fee is used to pay for the services of FD, Franklin Mutual Advisers, investment advisory organizations that provide services to Franklin Mutual Advisers and other FD affiliates under the Services Agreement, as well as to pay HESAA for its services in connection with the Program. The Program fee is subject to change by HESAA.

Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all fund expenses. Returns for periods of less than one year are not annualized. All classes of shares may not be available to all investors or through all distribution channels. For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/(800) 342-5236 or visit www.franklintempleton.com.

Investors should carefully consider plan investment goals, risks, charges and expenses before investing. To obtain the Program Description, which contains this and other information, call Franklin Distributors, LLC, the manager and underwriter for the plan, at (877) 4NJ-BEST. You should read the Program Description carefully before investing and consider whether your or the beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in its qualified tuition program.

NJBEST New Jersey's 529 College Savings Plan is offered and administered by the New Jersey Higher Education Student Assistance Authority (HESAA); managed and distributed by Franklin Distributors, LLC, an affiliate of Franklin Resources, Inc., which operates as Franklin Templeton.

Investments in NJBEST are not insured by the FDIC or any other government agency and are not deposits or other obligations of any depository institution. Investments are not guaranteed by the State of New Jersey, Franklin Distributors, LLC, Franklin Templeton, or its affiliates and are subject to risks, including loss of principal amount invested. Investing in the plan does not guarantee admission to any particular primary, secondary school or college, or sufficient funds for primary, secondary school or college.

This material is being provided for general information and should not be considered or relied upon as legal, tax or investment advice or an investment recommendation, or as a substitute for legal or tax counsel and provided for educational and informational purposes only. Franklin Templeton does not provide legal or tax advice. Federal and state laws and regulations are complex and subject to change, which can materially impact your results. Franklin Templeton cannot guarantee that such information is accurate, complete or timely; and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.

Effective November 18, 2024, there were investment-related enhancements. Please see Program Description for detailed information.

An investment in the NJBEST 529 College Savings Plan is an investment in a municipal security that may invest in one or more underlying mutual fund, ETF or separate account. It is not an investment in shares or units of the underlying investment.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE. All rights reserved.