Company: GGT-PG
Filing Date: 2025-10-14
Form Type: 424B2
Source: 0001829126-25-008100
Chunk: 38

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-10-14
Form: 424B2
Chunk 38
---
and are either U.S. government securities or evidences of indebtedness rated at least “Aaa,” “P-1”, “VMIG-1”
or “MIG-1” by Moody’s or “AAA”, “SP-1+” or “A-1+” by S&P and are held
by the Fund for distributions, the redemption or repurchase of preferred stock or the Fund’s liabilities.

If the Fund does not
cure in a timely manner a failure to maintain a discounted value of its portfolio equal to the Basic Maintenance Amount in accordance
with the requirements of the applicable rating agency or agencies then rating the preferred stock at the request of the Fund, the
Fund may, and in certain circumstances will be required to, mandatorily redeem preferred stock.

The Fund may, but is
not required to, adopt any modifications to the rating agency guidelines that may hereafter be established by Moody’s and
Fitch (or such other rating agency then rating the preferred stock at the request of the Fund). Failure to adopt any such modifications,
however, may result in a change in the relevant rating agency’s ratings or a withdrawal of such ratings altogether. In addition,
any rating agency providing a rating for the preferred stock at the request of the Fund may, at any time, change or withdraw any
such rating. The Board, without further action by stockholders, may amend, alter, add to or repeal any provision of the Articles
Supplementary adopted pursuant to rating agency guidelines if the Board determines that such amendments or modifications are necessary
to prevent a reduction in, or the withdrawal of, a rating of the preferred stock and are in the aggregate in the best interests
of the holders of the preferred stock. Additionally, the Board, without further action by the stockholders, may amend, alter, add
to or repeal any provision of the Articles Supplementary adopted pursuant to rating agency guidelines if the Board determines that
such amendments or modifications will not in the aggregate adversely affect the rights and preferences of the holders of any series
of the preferred stock, provided that the Fund has received advice from each applicable rating agency that such amendment or modification
is not expected to adversely affect such rating agency’s then-current rating of such series of the Fund’s preferred
stock.

<div align='center'>- 20 -</div>

As described by Moody’s
and Fitch, the ratings assigned to the preferred stock are assessments of the capacity and willingness of the Fund to pay the obligations
of each series of the preferred