Company: PIM
Filing Date: 2025-05-28
Form Type: N-CSRS
Source: 0000928816-25-000657
Chunk: 30

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-05-28
Form: N-CSRS
Chunk 30
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ASB) Accounting Standards Update (ASU) 2023–07, Segment Reporting (Topic 280) — Improvements to Reportable Segment Disclosures . The update is limited to disclosure requirements and does not impact the fund’s financial position or results of operations. The fund operates as a single operating segment, which is an investment portfolio. The fund’s investment manager serves as the Chief Operating Decision Maker (CODM), evaluating fund-wide results and performance under a unified investment strategy. The CODM uses these measures to assess fund performance and allocate resources effectively. Internal reporting provided to the CODM aligns with the accounting policies and measurement principles used in the financial statements. For information regarding segment assets, segment profit or loss, and significant expenses, refer to the Statement of assets and liabilities and the Statement of operations, along with the related notes to the financial statements. The fund’s portfolio provides details of the fund’s investments that generate returns such as interest, dividends, and realized and unrealized gains or losses. Performance metrics, including portfolio turnover and expense ratios, are disclosed in the Financial highlights. Note 11: New Accounting Pronouncement In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740) — Improvements to Income Tax Disclosures . The amendments enhance income tax disclosures by requiring greater disaggregation in the rate reconciliation and income taxes paid by jurisdiction, while eliminating certain outdated disclosure requirements. The ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. Management is currently evaluating the impact of the ASU but does not expect it to have a material impact on the financial statements.

| 62 Master Intermediate Income Trust |

Results of any shareholder votes (Unaudited) April 25, 2025 annual meeting At the meeting, each of the nominees for Trustees was elected, as follows:

|                    |  Votes for | Votes withheld |
| Robert D. Agdern   | 36,730,311 |        833,316 |
| Carol L. Colman    | 36,820,252 |        743,375 |
| Anthony Grillo     | 36,741,372 |        822,255 |
| Eileen A. Kamerick | 36,678,261 |        885,366 |
| Nisha Kumar        | 36,721,825 |        841,802 |
| Peter Mason