On July 31, 2020, pursuant to the terms and conditions of the Agreement and Plan of Merger (the “Merger Agreement”), dated as of February 17, 2020, by and among Legg Mason, Inc. (the “Company”), Franklin Resources, Inc. (“Franklin”) and Alpha Sub, Inc. (“Merger Sub”), a wholly owned subsidiary of Franklin, Merger Sub merged with and into the Company (the “Merger”), with the Company continuing as the surviving corporation (the “Surviving Corporation”). As a result of the Merger, the Company became a wholly-owned subsidiary of Franklin. In connection with the consummation of the Merger, effective as of July 31, 2020, the Company terminated the Credit Agreement, dated as of December 29, 2015, as amended by the First Amendment, dated as of March 31, 2016, the Second Amendment dated as of September 7, 2016 and the Third Amendment dated as of March 31, 2017 (as so amended, the “Credit Agreement”), among the Company, as borrower, the lenders from time to time party thereto, and Citibank, N.A., as administrative agent. In connection with the termination of the Credit Agreement, all outstanding borrowings and all unpaid fees thereunder were paid in full and all commitments thereunder were terminated. There were no outstanding borrowings under the Credit Agreement at the time of termination.