Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 123

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 123
---
to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

at

the

date

of

the

### financial
statements

and

the

amounts

of

income

and

expenses

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates.

#### j.

#### Guarantees

#### and

#### Indemnifications
Under

the Fund's

organizational

documents,

its

officers

and trustees

are

indemnified

by

the

Fund against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Fund.

Additionally,

in

the

normal

course

of

business,

the

#### 1.

#### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

#### e.

#### Derivative

### Financial

#### Instruments
(continued)

Putnam

Master

Intermediate

Income

Trust

Notes

to

### Financial
Statements

47

franklintempleton.com

Annual

Report

Fund

enters

into

contracts

with

service

providers

that

contain

general

indemnification

clauses.

The Fund's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Fund

that

have

not

yet

occurred.

Currently,

the Fund

expects

the

risk

of

loss

to

be

remote.

#### 2.

#### Shares

#### of

#### Beneficial

#### Interest
At

September

30,

2025,

there

were

an

unlimited

number

of

shares

authorized

(without

par

value).

During

the years

ended

September

30,

2025 and

2024,

there

were

no

shares

issued;

all

reinvested

distributions

were

satisfied

with

previously

issued

shares

purchased

in

the

open

market.

In September

2025,

the

Board

authorized

### management
to

renew

the

Fund’s

open-market

share

repurchase

program.