Company: GGT-PG
Filing Date: 2025-09-04
Form Type: N-CSRS
Source: 0001829126-25-007146
Chunk: 8

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-09-04
Form: N-CSRS
Chunk 8
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 expenses to average net assets including liquidation value of preferred shares before fee waived/fee reduction for the six months ended June 30, 2025 and the years ended December 31, 2024, 2023, 2022, 2021, and 2020 would have been 1.36%, 1.40%, 1.37%, 1.29%, 1.21%, and 1.30%, respectively. 
 Ratio of operating expenses to average net assets including liquidation value of preferred shares net of advisory fee reduction for the six months ended June 30, 2025 and the years ended December 31, 2024, 2023, 2022, and 2020 would have been 1.36%, 1.40%, 1.37%, 1.28%, and 1.30%, respectively.                |
|:----|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (g) | The Fund redeemed and retired all of its outstanding Series C Shares on June 26, 2024.                                                                                                                                                                                                                                 |
| (h) | Actual number of shares outstanding is 10.                                                                                                                                                                                                                                                                             |
| (i) | Since February 2008, the weekly auctions have failed. Holders that have submitted orders have not been able to sell any or all of their shares in the auctions.                                                                                                                                                        |
| (j) | Asset coverage per share is calculated by combining all series of preferred stock.                                                                                                                                                                                                                                     |
| (k) | Based on weekly prices.                                                                                                                                                                                                                                                                                                |
| (l) | Asset coverage is calculated by combining all series of preferred stock.                                                                                                                                                                                                                                               |

<div align='center'>See accompanying notes to financial statements.

14</div>

The Gabelli Multimedia Trust Inc.

Notes to Financial Statements (Unaudited)

1. Organization.The Gabelli Multimedia Trust Inc. (the Fund) was incorporated on March 31, 1994 in Maryland. Although the Fund is registered as a non-diversified fund, it has operated as a diversified fund for over three years. Therefore, the Investment Company Act of 1940, as amended (the 1940 Act) obliges the Fund to continue to operate as a diversified fund unless the Fund obtains shareholder approval to operate as a non-diversified fund. The Fund commenced investment operations on November 15, 1994.

The Fund’s investment objective is long term growth of capital. The Fund will invest at least 80% of