Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 193

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 193
---

also

reflected

the

knowledge

and

experience

gained

as

members

of

the

Boards

of

the

other

Franklin

Templeton

Closed-end

Funds

with

respect

to

the

services

provided

to

the

Fund

by

the

Manager

and

the

Sub-Advisers.

The

information

received

and

considered

by

the

Board

(including

its

various

committees)

in

conjunction

with

both

the

Contract

Renewal

Meeting

and

throughout

the

year

was

both

written

and

oral.

The

contractual

arrangements

discussed

below

are

the

product

of

multiple

years

of

review

and

negotiation

and

information

with

respect

to

the

other

Franklin

Templeton

Closed-end

Funds

received

and

considered

by

the

Board

during

each

of

those

years.

At

a

meeting

held

on

April

25,

2025,

the

Independent

Trustees,

in

preparation

for

the

Contract

Renewal

Meeting,

met

in

a

private

session

with

their

independent

legal

counsel

to

review

the

Contract

Renewal

Information

regarding

the

Franklin

Templeton

Closed-end

Funds,

including

the

Fund,

received

to

date.

No

representatives

of

the

Manager

or

the

Sub-Advisers

participated

in

this

meeting.

Following

the

April

25,

2025

meeting,

the

Independent

Trustees

submitted

certain

questions

and

requests

for

additional

information

to

Fund

management.

The

Independent

Trustees

also

met

in

private

sessions

with

their

independent

legal

counsel

to

consider

the

Contract

Renewal

Information

and

Fund

management’s

responses

to

the

Independent

Trustees’

questions

and

requests

for

additional

information

in

advance

of

and

during

the

Contract

Renewal

Meeting.

The

### discussion