Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 10

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 10
---

dividends,

capital

gain

distributions,

if

any,

or

any

realized

gains

on

the

sale

of

Fund

shares.

Your

dividend

income

will

vary

depending

on

dividends

or

interest

paid

by

securities

in

the

Fund’s

portfolio,

adjusted

for

operating

expenses.

Capital

gain

distributions

are

net

profits

realized

from

the

sale

of

portfolio

securities.

Performance

as

of

9/30/25

1

Performance

data

represent

past

performance,

which

does

not

guarantee

future

results.

Investment

return

and

principal

value

will

fluctuate,

and

you

may

have

a

gain

or

loss

when

you

sell

your

shares.

Current

performance

may

differ

from

figures

shown.

Share

Prices

#### Cumulative

#### Total

#### Return

#### 2

#### Average

#### Annual

#### Total

#### Return

#### 2

#### Based

#### on

#### NAV

#### 3

#### Based

#### on

#### market

#### price

#### 4

#### Based

#### on

#### NAV

#### 3

#### Based

#### on

#### market

#### price

#### 4
**1-Year

+6.75%

+9.75%

+6.75%

+9.75%

5-Year

+16.06%

+22.33%

+3.02%

+4.11%

10-Year

+39.06%

+58.88%

+3.35%

+4.74%

Symbol:**

#### PIM

#### 9/30/25

#### 9/30/24

#### Change
Net

Asset

Value

(NAV)

$3.47

$3.51

-$0.04

Market

Price

(NYSE)

$3.44

$3.39

+$0.05

Distributions

Per

Share

(10/1/24–9/30/25)

#### Net

#### Investment

#### Income

#### Tax

#### Return

#### of

#### Capital

#### Total
$0.1714

$0.0926

$0.2640

#### See

####