Company: GGT-PG
Filing Date: 2025-03-10
Form Type: N-CSR
Source: 0001829126-25-001664
Chunk: 93

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-03-10
Form: N-CSR
Chunk 93
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 assets in illiquid securities, such as repurchase agreements with maturities in excess of seven days, or securities that at the time of purchase have legal or contractual restrictions on resale.

9. Issue senior securities, except to the extent permitted by applicable law.

With respect to (1) above, the Fund invests 25% or more of its total assets in the securities of issuers in the telecommunications, media, publishing and entertainment industries.

<div align='center'>ADDITIONAL INVESTMENT POLICIES</div>

Additional Investment Policies

Interest Rate Transactions.The Fund may enter into interest rate swap or cap transactions in relation to all or a portion of any series of floating rate preferred stock in order to manage the impact on its portfolio of changes in the dividend rate of such stock. Through these transactions, the Fund may, for example, obtain the equivalent of a fixed rate for such floating rate preferred stock that is lower than the Fund would have to pay if it issued fixed rate preferred stock.

The use of interest rate swaps and caps is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio security transactions. In an interest rate swap, the Fund would agree to pay to the other party to the interest rate swap (which is known as the “counterparty”) periodically a fixed rate payment in exchange for the counterparty agreeing to pay to the Fund periodically a variable rate payment that is intended to approximate the Fund’s variable rate payment obligation on its floating rate preferred stock. In an interest rate cap, the Fund would pay a premium to the counterparty to the interest rate cap and, to the extent that a specified variable rate index exceeds a predetermined fixed rate, would receive from the counterparty payments of the difference based on the notional amount of such cap. Interest rate swap and cap transactions introduce additional risk because the Fund would remain obligated to pay preferred stock dividends or distributions when due in accordance with the Articles Supplementary of the relevant series of the floating rate preferred stock even if the counterparty defaulted. Depending on the general state of short-term interest rates and the returns on the Fund’s portfolio securities at that point in time, such a default could negatively affect the Fund’s ability to make dividend or distribution payments on the floating rate preferred stock. In addition, at the time an interest rate swap or cap transaction reaches its scheduled termination date, there is

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The Gabelli Multimedia Trust Inc.

Additional Fund Information (Continued) (Unaudited)

a risk that the Fund will not