Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 207

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 207
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 3 to Form N-CSR to qualify as “audit committee financial
experts,” and has designated Eileen A. Kamerick and Nisha Kumar as the Audit Committee’s financial experts. Eileen A. Kamerick
and Nisha Kumar are “independent” Trustees pursuant to paragraph (a)(2) of Item 3 to Form N-CSR.

Under applicable securities laws, a person determined to be an
audit committee financial expert will not be deemed an “expert” for any purpose, including without limitation for the purposes
of Section 11 of the Securities Act of 1933, as a result of being designated or identified as an audit committee financial expert. The
designation or identification of a person as an audit committee financial expert does not impose on such person any duties, obligations,
or liabilities greater than the duties, obligations, and liabilities imposed on such person as a member of the audit committee and board
of directors in the absence of such designation or identification. The designation or identification of a person as an audit committee
financial expert does not affect the duties, obligations, or liability of any other member of the audit committee or board of directors.

| ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |

(a) . The aggregate fees billed in the last two
fiscal years ending September 30, 2024 and September 30, 2025 (the “Reporting Periods”) for professional services rendered by the Registrant’s
principal accountant (the “Auditor”) for the audit of the Registrant’s annual financial statements, or services that
are normally provided by the Auditor in connection with the statutory and regulatory filings or engagements for the Reporting Periods,
were $170,849 in September 30, 2024 and $113,881 in September 30, 2025.

(b) . The aggregate fees billed in the
Reporting Periods for assurance and related services by the Auditor that are reasonably related to the performance of the Registrant’s
financial statements were $0 in September 30, 2024 and $0 in September 30, 2025.

(c) . The aggregate fees billed
in the Reporting Periods for professional services rendered by the Auditor for tax compliance, tax advice and tax planning (“Tax
Services”) were $13,696 in September 30, 2024 and $22,827 in September 30, 2025. These services consisted of (i) review or preparation of
U.S. federal