Company: PIM
Filing Date: 2025-12-01
Form Type: N-CSR
Source: 0001133228-25-012988
Chunk: 173

Company: PUTNAM MASTER INTERMEDIATE INCOME TRUST
Filing Date: 2025-12-01
Form: N-CSR
Chunk 173
---

their

service

providers

(including,

but

not

limited

to,

Fund

accountants,

custodians,

sub-custodians,

transfer

agents

and

### financial
intermediaries)

to

suffer

data

breaches,

data

corruption

or

loss

of

operational

functionality,

or

prevent

Fund

investors

from

purchasing,

redeeming

or

exchanging

shares,

receiving

distributions

or

receiving

timely

information

regarding

the

Fund

or

their

investment

in

the

Fund.

The

Fund,

the

Manager,

and

the

Sub-Advisers

have

limited

ability

to

prevent

or

mitigate

cybersecurity

incidents

affecting

third

party

service

providers,

and

such

third-party

service

providers

may

have

limited

indemnification

obligations

to

the

Fund

or

the

Manager.

Cybersecurity

incidents

may

result

in

### financial
losses

to

the

Fund

and

its

shareholders,

and

substantial

costs

may

be

incurred

in

order

to

prevent

any

future

cybersecurity

incidents.

Issuers

of

securities

in

which

the

Fund

invests

are

also

subject

to

cybersecurity

risks,

and

the

value

of

these

securities

could

decline

if

the

issuers

experience

cybersecurity

incidents.

#### •

#### Changes

#### in

#### policies.
The

Trustees

may

change

the

Fund’s

goal,

investment

strategies

and

other

policies

without

shareholder

approval,

except

in

circumstances

in

which

shareholder

approval

is

specifically

required

by

law

(such

as

changes

to

fundamental

investment

policies)

or

where

a

shareholder

approval

requirement

was

specifically

disclosed

in

the

Fund’s

prospectus,

statement

of

additional

information

or

shareholder

report

and

is

otherwise

still

in

effect.

#### The