Company: PIM
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000928816-25-000374
Chunk: 26

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 26
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 at the annual meeting objects to the holding of a simultaneous
meeting and moves for an adjournment of the meeting to a time promptly after the simultaneous meetings, the persons named as proxies will
vote in favor of adjournment.

Solicitation of proxies.In addition to soliciting
proxies by mail, the current Trustees of your fund and employees of Franklin Advisers and Putnam Investor Services, as well as their agents,
may solicit proxies in person or by telephone. Your fund may arrange to have a proxy solicitation firm call you to record your voting
instructions by telephone. The procedures for voting proxies by telephone are designed to authenticate shareholders’ identities,
to allow them to authorize the voting of their shares in accordance with their instructions, and to confirm that their instructions have
been properly recorded. Shareholders would be called at the phone number Franklin Advisers or Putnam Investor Services has in its records
for their accounts (or that Franklin Advisers or Putnam Investor Services obtains from agents acting on behalf of financial intermediaries,
in the case of shares held in street name through a bank, broker or other financial intermediary) and would be given an opportunity to
authenticate their identities and to authorize the proxies to vote their shares at the annual meeting in accordance with their instructions.
To ensure that shareholders’ instructions have been recorded correctly, they will also

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receive a confirmation of their instructions in the mail. A special toll-free
number will be available in case the information contained in the confirmation is incorrect. Your fund has been advised by counsel that
these procedures are consistent with the requirements of applicable law. If these procedures were subject to a successful legal challenge,
such votes would not be counted at the annual meeting. Your fund is unaware of any such challenge at this time.

Shareholders have the opportunity to submit their voting instructions
over the internet by using a program provided by a third-party vendor selected by Franklin Advisers or by automated telephone service.
To vote online using the internet, please access the internet address listed on the proxy card and follow the instructions on the internet
site. To record your voting instructions using the automated telephone service, use the toll-free number listed on your proxy card. The
internet and telephone voting procedures are designed to authenticate shareholder identities, to allow shareholders to give their voting
instructions, and to confirm that shareholders’ instructions have been recorded properly.

Your fund’s Trustees have adopted a general policy of maintaining
confidentiality in the voting of proxies. Consistent with this policy, your fund may solicit proxies