Franklin Templeton Announces Distribution Rates for Putnam Closed-End Funds

The Trustees of The Putnam Funds have declared the following distributions.

* Distributions may be comprised of ordinary and/or tax-exempt income, net capital gains and/or a return of capital of your investment in the Fund.

The funds periodically provide fund-related information on their websites. The following information will be available for each fund at www.franklintempleton.com at the frequencies indicated: (1) Full holdings will be available monthly beginning on the 8th business day after the end of each month; (2) Top 10 holdings and additional portfolio statistics will be available monthly, approximately 15 days after month-end.

19(a) NOTICES

Putnam Master Intermediate Income Trust

Putnam estimates that $0.0166 per share of Putnam Master Intermediate Income Trust’s dividend is paid from accumulated net investment income, and $0.0054 per share represents a return of capital. These estimates and the sources of the fund's dividends and distributions are determined in accordance with accounting principles applicable to the fund. These principles may vary from those applicable to the characterization of distributions under federal tax law and, accordingly, federal tax law treatment will likely vary from the estimated characterization above. In addition, the sources of dividends are estimated at the time of declaration. Actual results will vary from these estimates. A non-taxable return of capital, if any, cannot be determined until after the end of the fund's fiscal year. In January 2026, you will receive final information as to the federal tax status of this and other distributions from the fund in the preceding calendar year.

Putnam Premier Income Trust

Putnam estimates that $0.0186 per share of Putnam Premier Income Trust’s dividend is paid from accumulated net investment income, and $0.0074 per share represents a return of capital. These estimates and the sources of the fund's dividends and distributions are determined in accordance with accounting principles applicable to the fund. These principles may vary from those applicable to the characterization of distributions under federal tax law and, accordingly, federal tax law treatment will likely vary from the estimated characterization above. In addition, the sources of dividends are estimated at the time of declaration. Actual results will vary from these estimates. A non-taxable return of capital, if any, cannot be determined until after the end of the fund's fiscal year. In January 2026, you will receive final information as to the federal tax status of this and other distributions from the fund in the preceding calendar year.

Franklin Advisers, Inc., the Funds’ manager, is an indirect, wholly-owned subsidiary of Franklin Resources, Inc.

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