# EDGAR Filing Document

**Accession Number:** 0000794614
**File Stem:** 0001133228-25-014141
**Filing Date:** 2025-12
**Character Count:** 345134
**Document Hash:** d8c223b568e4d8a65c13fe03702779c2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-25-014141.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001133228-25-014141

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 50

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**EFFECTIVENESS DATE**: 20251229

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUTNAM GLOBAL INCOME TRUST
- **CENTRAL INDEX KEY:** 0000794614

**ORGANIZATION NAME:**
- **EIN:** 046549525
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04524
- **FILM NUMBER:** 251607058

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6172921000

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM GOVERNMENT INCOME GLOBAL TRUST
- **DATE OF NAME CHANGE:** 19870225

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PUTNAM GLOBAL GOVERNMENT INCOME TRUST
- **DATE OF NAME CHANGE:** 19870115

## Series and Classes Contracts Data

### PUTNAM GLOBAL INCOME TRUST (Series ID: S000005653)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000015446 | Class C Shares |  |
| C000015447 | Class Y Shares |  |
| C000015448 | Class A Shares | PGGIX           |
| C000015451 | Class R Shares | PGBRX           |
| C000118067 | Class R5       |  |
| C000118068 | Class R6       |  |

?xml version='1.0' encoding='ASCII'? 2025-11-1874200164900_PutnamGlobalIncomeTrust_ClassA_TSRAnnual

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR** 

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number **811-04524**

 **Putnam Global Income Trust**

(Exact name of registrant as specified in charter)

**100 Federal Street, Boston, Massachusetts 02110**

(Address of principal executive offices) (Zip code)

Stephen Tate, Vice President

100 Federal Street,

Boston, Massachusetts 02110

Copy to:

Bryan Chegwidden, Esq.

Ropes & Gray LLP

1211 Avenue of the Americas

New York, NY 10036

James E. Thomas, Esq.

Ropes & Gray LLP

800 Boylston Street

Boston, Massachusetts 02199

(Name and address of agent for service)

Registrant's telephone number, including area code: **(617) 292-1000**

Date of fiscal year end: **October 31**

Date of reporting period: **October 31, 2025**

ITEM 1. REPORT TO STOCKHOLDERS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Report to Shareholders is filed herewith

---

| | |
|:---|:---|
| **Putnam Global Income Trust**  | ![image](img2199_202405220716489.jpg) |
| Class A [PGGIX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| October 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2024, to October 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class A | $92 | 0.90% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended October 31, 2025, Class A shares of Putnam Global Income Trust returned 5.24%. The Fund compares its performance to the Bloomberg Global Aggregate Index, which returned 5.69% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Corporate credit exposures across investment-grade and high-yield contributed to performance, as spreads tightened over the period. |
| ↑ | Commercial mortgage-backed securities (CMBS) contributed to performance. Availability of financing for commercial borrowers has improved as floating-rate private label CMBS (Single Asset Single Borrower 'SASB') and private credit have helped fill the void left by regional banks, commercial real estate fundamentals have shown signs of improvement, and rising transaction volumes are providing more price transparency. |
| ↑ | Residential mortgage-backed securities contributed to performance. U.S. homeowner balance sheets remain well positioned, supported by locked in home price appreciation, lower household leverage, strong underwriting standards, and a relatively healthy labor market. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | The Fund utilized interest rate futures, swaps and swaptions to manage its duration and yield curve exposure. Currency forwards and credit default swaps were used to manage the Fund's currency exposure and credit exposures. In aggregate, these derivatives detracted from performance. |

---

Putnam Global Income Trust PAGE 1 38916-ATSA-1225

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT ($** **9,600 AFTER MAXIMUM APPLICABLE SALES CHARGE) –**

**Class A** 10/31/2015 — 10/31/2025

![image](ts5845img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class A**  | 5.24 | -1.47 | 0.98 |
| **Class A (with sales charge)**  | 1.03 | -2.27 | 0.56 |
| **Bloomberg Global Aggregate Index**  | 5.69 | -1.63 | 1.10 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of October 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $213212007 |
| **Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)** | 674 |
| **Total Management Fee Paid** | $576307 |
| **Portfolio Turnover Rate** | 241% |

---

**WHAT DID THE FUND INVEST IN?** (as of October 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts5845img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Putnam Global Income Trust PAGE 2 38916-ATSA-1225

------

**HOW HAS THE FUND CHANGED?**

Effective November 1, 2024 (the "Effective Date"), Putnam Investments Limited ("PIL"), a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited ("FTIML"), a wholly-owned subsidiary of Franklin Resources, Inc. (the "Merger"). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers, Inc. ("Franklin Advisers") and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund's Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.

This is a summary of certain changes to the Fund since November 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by March 1, 2026, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or

funddocuments@putnam.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) 225-1581. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Putnam Global Income Trust PAGE 3 38916-ATSA-1225

9600991410342101211110111393111168979910910052105791000010559106831046411462121081195794729635105541115431.428.913.87.45.14.74.12.32.3 ------

---

| | |
|:---|:---|
| **Putnam Global Income Trust**  | ![image](img2199_202405220716489.jpg) |
| Class C [PGGLX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| October 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2024, to October 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class C | $169 | 1.65% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended October 31, 2025, Class C shares of Putnam Global Income Trust returned 4.47%. The Fund compares its performance to the Bloomberg Global Aggregate Index, which returned 5.69% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Corporate credit exposures across investment-grade and high-yield contributed to performance, as spreads tightened over the period. |
| ↑ | Commercial mortgage-backed securities (CMBS) contributed to performance. Availability of financing for commercial borrowers has improved as floating-rate private label CMBS (Single Asset Single Borrower 'SASB') and private credit have helped fill the void left by regional banks, commercial real estate fundamentals have shown signs of improvement, and rising transaction volumes are providing more price transparency. |
| ↑ | Residential mortgage-backed securities contributed to performance. U.S. homeowner balance sheets remain well positioned, supported by locked in home price appreciation, lower household leverage, strong underwriting standards, and a relatively healthy labor market. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | The Fund utilized interest rate futures, swaps and swaptions to manage its duration and yield curve exposure. Currency forwards and credit default swaps were used to manage the Fund's currency exposure and credit exposures. In aggregate, these derivatives detracted from performance. |

---

Putnam Global Income Trust PAGE 1 38916-ATSC-1225

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Class C** 10/31/2015 — 10/31/2025

![image](ts5846img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class C**  | 4.47 | -2.21 | 0.37 |
| **Class C (with sales charge)**  | 3.47 | -2.21 | 0.37 |
| **Bloomberg Global Aggregate Index**  | 5.69 | -1.63 | 1.10 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

Class C share performance reflects conversion to class A shares after eight years.

For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of October 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $213212007 |
| **Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)** | 674 |
| **Total Management Fee Paid** | $576307 |
| **Portfolio Turnover Rate** | 241% |

---

**WHAT DID THE FUND INVEST IN?** (as of October 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts5846img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Putnam Global Income Trust PAGE 2 38916-ATSC-1225

------

**HOW HAS THE FUND CHANGED?**

Effective November 1, 2024 (the "Effective Date"), Putnam Investments Limited ("PIL"), a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited ("FTIML"), a wholly-owned subsidiary of Franklin Resources, Inc. (the "Merger"). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers, Inc. ("Franklin Advisers") and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund's Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.

This is a summary of certain changes to the Fund since November 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by March 1, 2026, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or

funddocuments@putnam.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) 225-1581. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Putnam Global Income Trust PAGE 3 38916-ATSC-1225

10000102431061410308112161142611062887589379862103791000010559106831046411462121081195794729635105541115431.428.913.87.45.14.74.12.32.3 ------

---

| | |
|:---|:---|
| **Putnam Global Income Trust**  | ![image](img2199_202405220716489.jpg) |
| Class R [PGBRX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| October 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2024, to October 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class R | $118 | 1.15% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended October 31, 2025, Class R shares of Putnam Global Income Trust returned 4.98%. The Fund compares its performance to the Bloomberg Global Aggregate Index, which returned 5.69% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Corporate credit exposures across investment-grade and high-yield contributed to performance, as spreads tightened over the period. |
| ↑ | Commercial mortgage-backed securities (CMBS) contributed to performance. Availability of financing for commercial borrowers has improved as floating-rate private label CMBS (Single Asset Single Borrower 'SASB') and private credit have helped fill the void left by regional banks, commercial real estate fundamentals have shown signs of improvement, and rising transaction volumes are providing more price transparency. |
| ↑ | Residential mortgage-backed securities contributed to performance. U.S. homeowner balance sheets remain well positioned, supported by locked in home price appreciation, lower household leverage, strong underwriting standards, and a relatively healthy labor market. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | The Fund utilized interest rate futures, swaps and swaptions to manage its duration and yield curve exposure. Currency forwards and credit default swaps were used to manage the Fund's currency exposure and credit exposures. In aggregate, these derivatives detracted from performance. |

---

Putnam Global Income Trust PAGE 1 38916-ATSR-1225

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Class R** 10/31/2015 — 10/31/2025

![image](ts5847img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class R**  | 4.98 | -1.71 | 0.73 |
| **Bloomberg Global Aggregate Index**  | 5.69 | -1.63 | 1.10 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of October 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $213212007 |
| **Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)** | 674 |
| **Total Management Fee Paid** | $576307 |
| **Portfolio Turnover Rate** | 241% |

---

**WHAT DID THE FUND INVEST IN?** (as of October 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts5847img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Putnam Global Income Trust PAGE 2 38916-ATSR-1225

------

**HOW HAS THE FUND CHANGED?**

Effective November 1, 2024 (the "Effective Date"), Putnam Investments Limited ("PIL"), a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited ("FTIML"), a wholly-owned subsidiary of Franklin Resources, Inc. (the "Merger"). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers, Inc. ("Franklin Advisers") and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund's Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.

This is a summary of certain changes to the Fund since November 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by March 1, 2026, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or

funddocuments@putnam.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) 225-1581. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Putnam Global Income Trust PAGE 3 38916-ATSR-1225

100001029810724104681145211726114029195930610245107561000010559106831046411462121081195794729635105541115431.428.913.87.45.14.74.12.32.3 ------

---

| | |
|:---|:---|
| **Putnam Global Income Trust**  | ![image](img2199_202405220716489.jpg) |
| Class R5 [PGGDX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| October 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2024, to October 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class R5 | $57 | 0.55% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended October 31, 2025, Class R5 shares of Putnam Global Income Trust returned 5.63%. The Fund compares its performance to the Bloomberg Global Aggregate Index, which returned 5.69% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Corporate credit exposures across investment-grade and high-yield contributed to performance, as spreads tightened over the period. |
| ↑ | Commercial mortgage-backed securities (CMBS) contributed to performance. Availability of financing for commercial borrowers has improved as floating-rate private label CMBS (Single Asset Single Borrower 'SASB') and private credit have helped fill the void left by regional banks, commercial real estate fundamentals have shown signs of improvement, and rising transaction volumes are providing more price transparency. |
| ↑ | Residential mortgage-backed securities contributed to performance. U.S. homeowner balance sheets remain well positioned, supported by locked in home price appreciation, lower household leverage, strong underwriting standards, and a relatively healthy labor market. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | The Fund utilized interest rate futures, swaps and swaptions to manage its duration and yield curve exposure. Currency forwards and credit default swaps were used to manage the Fund's currency exposure and credit exposures. In aggregate, these derivatives detracted from performance. |

---

Putnam Global Income Trust PAGE 1 38916-ATSR5-1225

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Class R5** 10/31/2015 — 10/31/2025

![image](ts5848img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class R5**  | 5.63 | -1.11 | 1.32 |
| **Bloomberg Global Aggregate Index**  | 5.69 | -1.63 | 1.10 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of October 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $213212007 |
| **Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)** | 674 |
| **Total Management Fee Paid** | $576307 |
| **Portfolio Turnover Rate** | 241% |

---

**WHAT DID THE FUND INVEST IN?** (as of October 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts5848img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Putnam Global Income Trust PAGE 2 38916-ATSR5-1225

------

**HOW HAS THE FUND CHANGED?**

Effective November 1, 2024 (the "Effective Date"), Putnam Investments Limited ("PIL"), a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited ("FTIML"), a wholly-owned subsidiary of Franklin Resources, Inc. (the "Merger"). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers, Inc. ("Franklin Advisers") and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund's Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.

This is a summary of certain changes to the Fund since November 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by March 1, 2026, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or

funddocuments@putnam.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) 225-1581. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Putnam Global Income Trust PAGE 3 38916-ATSR5-1225

100001035010837106441171512055118009572974710795114031000010559106831046411462121081195794729635105541115431.428.913.87.45.14.74.12.32.3 ------

---

| | |
|:---|:---|
| **Putnam Global Income Trust**  | ![image](img2199_202405220716489.jpg) |
| Class R6 [PGGEX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| October 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2024, to October 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class R6 | $49 | 0.48% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended October 31, 2025, Class R6 shares of Putnam Global Income Trust returned 5.61%. The Fund compares its performance to the Bloomberg Global Aggregate Index, which returned 5.69% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Corporate credit exposures across investment-grade and high-yield contributed to performance, as spreads tightened over the period. |
| ↑ | Commercial mortgage-backed securities (CMBS) contributed to performance. Availability of financing for commercial borrowers has improved as floating-rate private label CMBS (Single Asset Single Borrower 'SASB') and private credit have helped fill the void left by regional banks, commercial real estate fundamentals have shown signs of improvement, and rising transaction volumes are providing more price transparency. |
| ↑ | Residential mortgage-backed securities contributed to performance. U.S. homeowner balance sheets remain well positioned, supported by locked in home price appreciation, lower household leverage, strong underwriting standards, and a relatively healthy labor market. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | The Fund utilized interest rate futures, swaps and swaptions to manage its duration and yield curve exposure. Currency forwards and credit default swaps were used to manage the Fund's currency exposure and credit exposures. In aggregate, these derivatives detracted from performance. |

---

Putnam Global Income Trust PAGE 1 38916-ATSR6-1225

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Class R6** 10/31/2015 — 10/31/2025

![image](ts5849img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class R6**  | 5.61 | -1.05 | 1.40 |
| **Bloomberg Global Aggregate Index**  | 5.69 | -1.63 | 1.10 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of October 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $213212007 |
| **Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)** | 674 |
| **Total Management Fee Paid** | $576307 |
| **Portfolio Turnover Rate** | 241% |

---

**WHAT DID THE FUND INVEST IN?** (as of October 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts5849img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Putnam Global Income Trust PAGE 2 38916-ATSR6-1225

------

**HOW HAS THE FUND CHANGED?**

Effective November 1, 2024 (the "Effective Date"), Putnam Investments Limited ("PIL"), a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited ("FTIML"), a wholly-owned subsidiary of Franklin Resources, Inc. (the "Merger"). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers, Inc. ("Franklin Advisers") and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund's Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.

This is a summary of certain changes to the Fund since November 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by March 1, 2026, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or

funddocuments@putnam.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) 225-1581. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Putnam Global Income Trust PAGE 3 38916-ATSR6-1225

100001035910859106731175612114118669626981110879114891000010559106831046411462121081195794729635105541115431.428.913.87.45.14.74.12.32.3 ------

---

| | |
|:---|:---|
| **Putnam Global Income Trust**  | ![image](img2199_202405220716489.jpg) |
| Class Y [PGGYX] | ![image](img2199_202405220716489.jpg) |
| Annual Shareholder Report \| October 31, 2025  | ![image](img2199_202405220716489.jpg) |
| ![image](img2195_202408190904545.jpg) | ![image](img2195_202408190904545.jpg) |

---

This annual shareholder report contains important information about Putnam Global Income Trust for the period November 1, 2024, to October 31, 2025.

You can find additional information about the Fund at https://www.franklintempleton.com/regulatory-fund-documents. You can also request this information by contacting us at (800) 225-1581.

***This report describes changes to the Fund that occurred during the reporting period.***

**WHAT WERE THE FUND COSTS FOR THE LAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of a** **$10,000 investment**<sup>\*</sup>  |
| Class Y | $67 | 0.65% |

---

\* Reflects fee waivers and/or expense reimbursements, without which expenses would have been higher.

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

For the twelve months ended October 31, 2025, Class Y shares of Putnam Global Income Trust returned 5.52%. The Fund compares its performance to the Bloomberg Global Aggregate Index, which returned 5.69% for the same period.

**PERFORMANCE HIGHLIGHTS**

---

| | |
|:---|:---|
| **Top contributors to performance:** | **Top contributors to performance:** |
| ↑ | Corporate credit exposures across investment-grade and high-yield contributed to performance, as spreads tightened over the period. |
| ↑ | Commercial mortgage-backed securities (CMBS) contributed to performance. Availability of financing for commercial borrowers has improved as floating-rate private label CMBS (Single Asset Single Borrower 'SASB') and private credit have helped fill the void left by regional banks, commercial real estate fundamentals have shown signs of improvement, and rising transaction volumes are providing more price transparency. |
| ↑ | Residential mortgage-backed securities contributed to performance. U.S. homeowner balance sheets remain well positioned, supported by locked in home price appreciation, lower household leverage, strong underwriting standards, and a relatively healthy labor market. |

---

---

| | |
|:---|:---|
| **Top detractors from performance:** | **Top detractors from performance:** |
| ↓ | The Fund utilized interest rate futures, swaps and swaptions to manage its duration and yield curve exposure. Currency forwards and credit default swaps were used to manage the Fund's currency exposure and credit exposures. In aggregate, these derivatives detracted from performance. |

---

Putnam Global Income Trust PAGE 1 38916-ATSY-1225

------

**HOW DID THE FUND PERFORM OVER THE LAST 10 YEARS?**

**The Fund's past performance is not necessarily an indication of how the Fund will perform in the future.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.

**VALUE OF A $** **10,000 INVESTMENT –** **Class Y** 10/31/2015 — 10/31/2025

![image](ts5850img003.jpg)

**AVERAGE ANNUAL TOTAL RETURNS (%)** Period Ended October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Class Y**  | 5.52 | -1.21 | 1.23 |
| **Bloomberg Global Aggregate Index**  | 5.69 | -1.63 | 1.10 |

---

Fund performance figures may reflect fee waivers and/or expense reimbursements, without which the performance would have been lower.

For current month-end performance, please call Franklin Templeton at (800) 225-1581 or visit

https://www.franklintempleton.com/investments/options/mutual-funds.

Important data provider notices and terms available at www.franklintempletondatasources.com.

**KEY FUND STATISTICS** (as of October 31, 2025)

---

| | |
|:---|:---|
| **Total Net Assets** | $213212007 |
| **Total Number of Portfolio Holdings (excludes derivatives, except purchased options, if any)** | 674 |
| **Total Management Fee Paid** | $576307 |
| **Portfolio Turnover Rate** | 241% |

---

**WHAT DID THE FUND INVEST IN?** (as of October 31, 2025)

**Portfolio Composition**<sup>\*</sup> **(% of Total Investments)**

![image](ts5850img004.jpg)

\* Does not include derivatives, except purchased options, if any.

Putnam Global Income Trust PAGE 2 38916-ATSY-1225

------

**HOW HAS THE FUND CHANGED?**

Effective November 1, 2024 (the "Effective Date"), Putnam Investments Limited ("PIL"), a sub-advisor of the Fund prior to the Effective Date, merged with and into Franklin Templeton Investment Management Limited ("FTIML"), a wholly-owned subsidiary of Franklin Resources, Inc. (the "Merger"). As of the Effective Date, PIL investment professionals became employees of FTIML, and the sub-advisory agreement between Franklin Advisers, Inc. ("Franklin Advisers") and PIL with respect to the Fund was terminated. In connection with the Merger, the Fund's Trustees approved a new sub-advisory agreement between Franklin Advisers and FTIML, pursuant to which FTIML became a sub-advisor of the Fund on the Effective Date.

This is a summary of certain changes to the Fund since November 1, 2024. For more complete information, you may review the Fund's current prospectus and any applicable supplements and the Fund's next prospectus, which we expect to be available by March 1, 2026, at https://www.franklintempleton.com/regulatory-fund-documents or upon request at (800) 225-1581 or

funddocuments@putnam.com.

---

| | |
|:---|:---|
| ![image](img11308_202405310907293.jpg) | **WHERE CAN I FIND ADDITIONAL INFORMATION ABOUT THE FUND?** |
| ![image](img11308_202405310907293.jpg) | Additional information is available on https://www.franklintempleton.com/regulatory-fund-documents, including its: |
| ![image](img11308_202405310907293.jpg) | • prospectus • proxy voting information • financial information • holdings • tax information |

---

**HOUSEHOLDING**

You will receive the Fund's shareholder reports every six months. In addition, you will receive an annual updated summary prospectus (detail prospectus available upon request). To reduce Fund expenses, we try to identify related shareholders in a household and send only one copy of the shareholder reports and summary prospectus. This process, called "householding," will continue indefinitely unless you instruct us otherwise. If you prefer not to have these documents householded, please call us at (800) 225-1581. At any time, you may view current prospectuses/summary prospectuses and shareholder reports on our website. If you choose, you may receive these documents through electronic delivery.

Putnam Global Income Trust PAGE 3 38916-ATSY-1225

100001034410828106221168012011117489519968110709112991000010559106831046411462121081195794729635105541115431.428.913.87.45.14.74.12.32.3 ------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable

ITEM 2. CODE OF ETHICS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant has adopted a code of ethics that applies to its principal executive officers and principal financial and accounting officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) N/A

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) N/A

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Pursuant to Item 19(a) (1), the Registrant is attaching as an exhibit a copy of its code of ethics that applies to its principal executive officers and principal financial and accounting officer.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

The Board of Trustees of the Registrant has determined that Gregory G. McGreevey and Manoj P. Singh possess the technical attributes identified in Item 3 to Form N-CSR to qualify as "audit committee financial experts," and has designated Gregory G. McGreevey and Manoj P. Singh as the Audit Committee's financial experts. Gregory G. McGreevey and Manoj P. Singh 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Audit Fees</u>. The aggregate fees billed in the last two fiscal years ending October 31, 2024 and October 31, 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 $142,876 in October 31, 2024 and $115,710 in October 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Audit-Related Fees</u>. 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 October 31, 2024 and $0 in October 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Tax Fees</u>. 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 $13,308 in October 31, 2024 and $22,180 in October 31, 2025. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification matters and/or treatment of various financial instruments held or proposed to be acquired or held.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) <u>All Other Fees</u>. The aggregate fees billed in the Reporting Periods for products and services provided by the Auditor to the Registrant, other than the services reported in paragraphs (a) through (c) of this item, were $0 in October 31, 2024 and $0 in October 31, 2025.

There were no other non-audit services rendered by the Auditor to the Service Affiliates requiring pre-approval by the Audit Committee in the Reporting Periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Audit Committee's pre–approval policies and procedures described in paragraph (c) (7) of Rule 2-01 of Regulation S-X.

Pre-Approval Policies of the Audit, Compliance and Risk Committee. The Audit, Compliance and Risk Committee of the Putnam funds has determined that, as a matter of policy, all work performed for the funds by the funds' independent auditors will be pre-approved by the Committee itself and thus will generally not be subject to pre-approval procedures.

The Audit, Compliance and Risk Committee also has adopted a policy to pre-approve the engagement by the fund's investment manager and certain of its affiliates of the fund's independent auditors, even in circumstances where pre-approval is not required by applicable law. Any such requests by the fund's investment manager or certain of its affiliates are typically submitted in writing to the Committee and explain, among other things, the nature of the proposed engagement, the estimated fees, and why this work should be performed by that particular audit firm as opposed to another one. In reviewing such requests, the Committee considers, among other things, whether the provision of such services by the audit firm are compatible with the independence of the audit firm.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) None of the services described in paragraphs (b) through (d) of this Item were performed in reliance on paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Non-audit fees billed by the Auditor for services rendered to the Registrant and the Service Affiliates during the reporting period were $872,036 in October 31, 2024 and $1,820,011 in October 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Yes. The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to Service Affiliates, which were not pre-approved (not requiring pre-approval), is compatible with maintaining the Auditor's independence. All services provided by the Auditor to the Registrant or to the Service Affiliates, which were required to be pre-approved, were pre-approved as required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Not applicable

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable.

ITEM 6. SCHEDULE OF INVESTMENTS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Please see schedule of investments contained in the Financial Statements and Financial
 Highlights included under Item 7 of this Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

#### Putnam

#### Global

#### Income

#### Trust

#### Financial

#### Statements

#### and

#### Other

#### Important

#### Information

#### Annual
\|

October

31,

2025

#### Table

#### of

#### Contents
franklintempleton.com

Financial

Statements

and

Other

Important

Information—Annual

Financial

Highlights

and

Schedule

of

Investments

#### 2
Financial

Statements

#### 38
Notes

to

Financial

Statements

#### 43
Report

of

Independent

Registered

Public

Accounting

Firm

#### 60
Tax

Information

#### 61
Changes

In

and

Disagreements

with

Accountants

#### 62
Results

of

Meeting(s)

of

Shareholders

Remuneration

Paid

to

Directors,

Officers

and

Others

Board

Approval

of

Management

and

Subadvisory

Agreements

Putnam

Global

Income

Trust

Financial

Highlights

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Year

#### Ended

#### October

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### A

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$10.10

$9.41

$9.47

$11.95

$12.45

Income

from

investment

operations

a

:

Net

investment

income

b

.........................

0.36 0.37 0.33 0.26 0.24 Net

realized

and

unrealized

gains

(losses)

...........

0.15 0.60 (0.19)

(2.54)

(0.54)

Total

from

investment

operations

....................

0.51 0.97 0.14 (2.28)

(0.30)

Less

distributions

from:

Net

investment

income

..........................

(0.51)

(0.28)

(0.19)

(0.06)

(0.20)

Tax

return

of

capital

............................

—

—

(0.01)

(0.14)

—

Total

distributions

...............................

(0.51)

(0.28)

(0.20)

(0.20)

(0.20)

Net

asset

value,

end

of

year

.......................

$10.10

$10.10

$9.41

$9.47

$11.95

Total

return

c

...................................

5.24%

10.35%

1.45%

(19.23)%

(2.43)%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

1.16%

1.24%

1.35%

1.26%

1.18%

Expenses

net

of

waiver

and

payments

by

affiliates

d

......

0.90%

0.93%

0.93%

0.91%

0.88%

Net

investment

income

...........................

3.60%

3.69%

3.38%

2.38%

1.91%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$68,939

$75,726

$77,720

$78,619

$110,713

Portfolio

turnover

rate

............................

241%

693%

925%

989%

838%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable.

d

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Putnam

Global

Income

Trust

Financial

Highlights

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

#### Year

#### Ended

#### October

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### C

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$10.05

$9.37

$9.43

$11.89

$12.39

Income

from

investment

operations

a

:

Net

investment

income

b

.........................

0.28 0.29 0.25 0.17 0.14 Net

realized

and

unrealized

gains

(losses)

...........

0.16 0.59 (0.18)

(2.50)

(0.53)

Total

from

investment

operations

....................

0.44 0.88 0.07 (2.33)

(0.39)

Less

distributions

from:

Net

investment

income

..........................

(0.44)

(0.20)

(0.12)

(0.04)

(0.11)

Tax

return

of

capital

............................

—

—

(0.01)

(0.09)

—

Total

distributions

...............................

(0.44)

(0.20)

(0.13)

(0.13)

(0.11)

Net

asset

value,

end

of

year

.......................

$10.05

$10.05

$9.37

$9.43

$11.89

Total

return

c

...................................

4.47%

9.47%

0.69%

(19.77)%

(3.19)%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

1.91%

1.99%

2.10%

2.01%

1.93%

Expenses

net

of

waiver

and

payments

by

affiliates

d

......

1.65%

1.68%

1.68%

1.66%

1.63%

Net

investment

income

...........................

2.85%

2.94%

2.54%

1.55%

1.14%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$1,525

$1,936

$1,552

$2,143

$3,833

Portfolio

turnover

rate

............................

241%

693%

925%

989%

838%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Total

return

does

not

reflect

sales

commissions

or

contingent

deferred

sales

charges,

if

applicable.

d

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Putnam

Global

Income

Trust

Financial

Highlights

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Year

#### Ended

#### October

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### R

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$10.10

$9.41

$9.47

$11.94

$12.45

Income

from

investment

operations

a

:

Net

investment

income

b

.........................

0.34 0.34 0.31 0.24 0.21 Net

realized

and

unrealized

gains

(losses)

...........

0.15 0.61 (0.19)

(2.54)

(0.55)

Total

from

investment

operations

....................

0.49 0.95 0.12 (2.30)

(0.34)

Less

distributions

from:

Net

investment

income

..........................

(0.49)

(0.26)

(0.17)

(0.05)

(0.17)

Tax

return

of

capital

............................

—

—

(0.01)

(0.12)

—

Total

distributions

...............................

(0.49)

(0.26)

(0.18)

(0.17)

(0.17)

Net

asset

value,

end

of

year

.......................

$10.10

$10.10

$9.41

$9.47

$11.94

Total

return

....................................

4.98%

10.09%

1.20%

(19.35)%

(2.76)%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

1.41%

1.49%

1.60%

1.51%

1.43%

Expenses

net

of

waiver

and

payments

by

affiliates

c

......

1.15%

1.18%

1.18%

1.16%

1.13%

Net

investment

income

...........................

3.35%

3.44%

3.16%

2.18%

1.69%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$1,053

$1,221

$1,243

$1,460

$1,963

Portfolio

turnover

rate

............................

241%

693%

925%

989%

838%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Putnam

Global

Income

Trust

Financial

Highlights

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

#### Year

#### Ended

#### October

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### R5

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$10.10

$9.41

$9.47

$11.94

$12.44

Income

from

investment

operations

a

:

Net

investment

income

b

.........................

0.40 0.41 0.37 0.30 0.28 Net

realized

and

unrealized

gains

(losses)

...........

0.15 0.60 (0.19)

(2.53)

(0.54)

Total

from

investment

operations

....................

0.55 1.01 0.18 (2.23)

(0.26)

Less

distributions

from:

Net

investment

income

..........................

(0.55)

(0.32)

(0.23)

(0.07)

(0.24)

Tax

return

of

capital

............................

—

—

(0.01)

(0.17)

—

Total

distributions

...............................

(0.55)

(0.32)

(0.24)

(0.24)

(0.24)

Net

asset

value,

end

of

year

.......................

$10.10

$10.10

$9.41

$9.47

$11.94

Total

return

....................................

5.63%

10.75%

1.82%

(18.88)%

(2.12)%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

0.81%

0.86%

0.97%

0.90%

0.85%

Expenses

net

of

waiver

and

payments

by

affiliates

c

......

0.55%

0.55%

0.55%

0.55%

0.55%

Net

investment

income

...........................

3.96%

4.06%

3.82%

2.76%

2.25%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$55

$51

$58

$32

$44

Portfolio

turnover

rate

............................

241%

693%

925%

989%

838%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Putnam

Global

Income

Trust

Financial

Highlights

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

#### Year

#### Ended

#### October

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### R6

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$10.10

$9.41

$9.47

$11.95

$12.45

Income

from

investment

operations

a

:

Net

investment

income

b

.........................

0.40 0.41 0.38 0.31 0.29 Net

realized

and

unrealized

gains

(losses)

...........

0.15 0.61 (0.19)

(2.53)

(0.54)

Total

from

investment

operations

....................

0.55 1.02 0.19 (2.22)

(0.25)

Less

distributions

from:

Net

investment

income

..........................

(0.56)

(0.33)

(0.24)

(0.08)

(0.25)

Tax

return

of

capital

............................

—

—

(0.01)

(0.18)

—

Total

distributions

...............................

(0.56)

(0.33)

(0.25)

(0.26)

(0.25)

Net

asset

value,

end

of

year

.......................

$10.09

$10.10

$9.41

$9.47

$11.95

Total

return

....................................

5.61%

10.88%

1.93%

(18.88)%

(2.05)%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

0.73%

0.79%

0.90%

0.83%

0.78%

Expenses

net

of

waiver

and

payments

by

affiliates

c

......

0.48%

0.48%

0.48%

0.48%

0.48%

Net

investment

income

...........................

4.03%

4.14%

3.84%

2.80%

2.31%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$14,496

$17,012

$22,287

$20,822

$30,989

Portfolio

turnover

rate

............................

241%

693%

925%

989%

838%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Putnam

Global

Income

Trust

Financial

Highlights

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

#### Year

#### Ended

#### October

#### 31,

#### 2025

#### 2024

#### 2023

#### 2022

#### 2021

#### Class

#### Y

#### Per

#### share

#### operating

#### performance
(for

a

share

outstanding

throughout

the

year)

Net

asset

value,

beginning

of

year

...................

$10.10

$9.41

$9.47

$11.94

$12.44

Income

from

investment

operations

a

:

Net

investment

income

b

.........................

0.39 0.40 0.36 0.28 0.27 Net

realized

and

unrealized

gains

(losses)

...........

0.15 0.59 (0.19)

(2.52)

(0.53)

Total

from

investment

operations

....................

0.54 0.99 0.17 (2.24)

(0.26)

Less

distributions

from:

Net

investment

income

..........................

(0.54)

(0.30)

(0.22)

(0.07)

(0.24)

Tax

return

of

capital

............................

—

—

(0.01)

(0.16)

—

Total

distributions

...............................

(0.54)

(0.30)

(0.23)

(0.23)

(0.24)

Net

asset

value,

end

of

year

.......................

$10.10

$10.10

$9.41

$9.47

$11.94

Total

return

....................................

5.52%

10.62%

1.70%

(18.98)%

(2.19)%

#### Ratios

#### to

#### average

#### net

#### assets
Expenses

before

waiver

and

payments

by

affiliates

......

0.91%

0.99%

1.10%

1.01%

0.93%

Expenses

net

of

waiver

and

payments

by

affiliates

c

......

0.65%

0.68%

0.68%

0.66%

0.63%

Net

investment

income

...........................

3.85%

3.93%

3.64%

2.59%

2.17%

#### Supplemental

#### data
Net

assets

,

end

of

year

(000's)

.....................

$127,144

$119,721

$56,728

$44,507

$88,836

Portfolio

turnover

rate

............................

241%

693%

925%

989%

838%

a

The

amount

shown

for

a

share

outstanding

throughout

the

period

may

not

correlate

with

the

Statement

of

Operations

for

the

period

due

to

the

timing

of

sales

and

repurchases

of

the

Fund's

shares

in

relation

to

income

earned

and/or

fluctuating

fair

value

of

the

investments

of

the

Fund.

b

Based

on

average

daily

shares

outstanding.

c

Benefit

of

expense

reduction

rounds

to

less

than

0.01%.

Putnam

Global

Income

Trust

Schedule

of

Investments,

October

31,

2025

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Shares
a

#### Value
a

a

#### a
a

#### Management

#### Investment

#### Companies

#### 2.6%

#### Capital

#### Markets

#### 2.6%
a

Franklin

Ultra

Short

Bond

ETF

..........................

United

States

217,238

$

5,448,329

#### Total

#### Management

#### Investment

#### Companies

#### (Cost

#### $

#### 5,401,724

####)
...................

#### 5,448,329

#### Principal

#### Amount

#### \*

#### Corporate

#### Bonds

#### 34.6%

#### Aerospace

#### &

#### Defense

#### 1.2%
b

BAE

Systems

plc

,

Senior

Bond

,

144A,

5.3 %

,

3/26/34

.........

United

Kingdom

685,000

711,076

Boeing

Co.

(The)

,

Senior

Bond

,

2.95 %

,

2/01/30

.........................

United

States

24,000

22,669

Senior

Bond

,

6.125 %

,

2/15/33

........................

United

States

36,000

38,809

Senior

Bond

,

3.6 %

,

5/01/34

..........................

United

States

97,000

88,037

Senior

Bond

,

3.25 %

,

2/01/35

.........................

United

States

45,000

39,246

Senior

Bond

,

3.5 %

,

3/01/39

..........................

United

States

85,000

69,390

Senior

Bond

,

6.875 %

,

3/15/39

........................

United

States

110,000

125,090

Senior

Bond

,

3.375 %

,

6/15/46

........................

United

States

62,000

44,413

Senior

Bond

,

3.9 %

,

5/01/49

..........................

United

States

188,000

142,574

Senior

Bond

,

6.858 %

,

5/01/54

........................

United

States

139,000

158,379

Senior

Bond

,

3.95 %

,

8/01/59

.........................

United

States

165,000

119,023

Senior

Note

,

2.196 %

,

2/04/26

........................

United

States

387,000

384,948

Senior

Note

,

2.7 %

,

2/01/27

..........................

United

States

152,000

149,178

Senior

Note

,

6.259 %

,

5/01/27

........................

United

States

3,000

3,084

Senior

Note

,

6.298 %

,

5/01/29

........................

United

States

5,000

5,306

Howmet

Aerospace,

Inc.

,

Senior

Bond

,

5.95 %

,

2/01/37

.........................

United

States

287,000

312,621

Senior

Note

,

%

,

1/15/29

...........................

United

States

174,000

168,190

2,582,033

#### Automobiles

#### 0.4%
b

Hyundai

Capital

America

,

Senior

Bond

,

144A,

6.375 %

,

4/08/30

...................

United

States

50,000

53,459

Senior

Note

,

144A,

6.5 %

,

1/16/29

.....................

United

States

200,000

212,230

Senior

Note

,

144A,

5.35 %

,

3/19/29

....................

United

States

497,000

510,773

Senior

Note

,

144A,

5.4 %

,

1/08/31

.....................

United

States

85,000

87,654

864,116

#### Banks

#### 5.3%
Banco

Santander

SA

,

Senior

Non-Preferred

Bond

,

4.379 %

,

4/12/28

............

Spain

200,000

200,575

Sub.

Bond

,

5.179 %

,

11/19/25

........................

Spain

400,000

400,087

Bank

of

America

Corp.

,

Senior

Bond

,

5.511%

to

1/23/35,

FRN

thereafter

,

1/24/36

...

United

States

98,000

102,640

Senior

Note

,

4.948%

to

7/21/27,

FRN

thereafter

,

7/22/28

....

United

States

368,000

373,007

Senior

Note

,

5.162%

to

1/23/30,

FRN

thereafter

,

1/24/31

....

United

States

97,000

100,178

Sub.

Bond

,

5.425%

to

8/14/34,

FRN

thereafter

,

8/15/35

.....

United

States

210,000

214,799

Sub.

Bond

,

3.846%

to

3/07/32,

FRN

thereafter

,

3/08/37

.....

United

States

597,000

560,355

Bank

of

Nova

Scotia

(The)

,

Junior

Sub.

Bond

,

7.35%

to

4/26/30,

FRN

thereafter

,

4/27/85

.............................

Canada

340,000

355,705

Barclays

plc

,

Senior

Note

,

5.367%

to

2/24/30,

FRN

thereafter

,

2/25/31

.........................................

United

Kingdom

250,000

257,921

b

BNP

Paribas

SA

,

Sub.

Bond

,

144A,

4.375 %

,

5/12/26

.........

France

400,000

399,508

b

BPCE

SA

,

Senior

Non-Preferred

Bond

,

144A,

3.5 %

,

10/23/27

..

France

250,000

246,052

b

CaixaBank

SA

,

Senior

Non-Preferred

Note

,

144A,

4.634%

to

7/02/28,

FRN

thereafter

,

7/03/29

.................................

Spain

295,000

297,176

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Banks
(continued)

b

CaixaBank

SA,

(continued)

Senior

Non-Preferred

Note

,

144A,

5.673%

to

3/14/29,

FRN

thereafter

,

3/15/30

.................................

Spain

200,000

$

207,966

Citigroup,

Inc.

,

c

GG

,

Junior

Sub.

Bond

,

6.875%

to

8/14/30,

FRN

thereafter

,

Perpetual

.......................................

United

States

416,000

429,081

Senior

Note

,

4.503%

to

9/10/30,

FRN

thereafter

,

9/11/31

....

United

States

485,000

485,694

Sub.

Bond

,

6.174%

to

5/24/33,

FRN

thereafter

,

5/25/34

.....

United

States

60,000

63,739

b

Commonwealth

Bank

of

Australia

,

Sub.

Bond

,

144A,

5.837 %

,

3/13/34

.........................................

Australia

400,000

423,564

b

Credit

Agricole

SA

,

Sub.

Bond

,

144A,

4%

to

1/09/28,

FRN

thereafter

,

1/10/33

.................................

France

400,000

393,746

Fifth

Third

Bancorp

,

Senior

Note

,

4.895%

to

9/05/29,

FRN

thereafter

,

9/06/30

.................................

United

States

225,000

228,222

First-Citizens

Bank

&

Trust

Co.

,

Sub.

Bond

,

6.125 %

,

3/09/28

...

United

States

276,000

285,912

ING

Groep

NV

,

Senior

Note

,

6.083%

to

9/10/26,

FRN

thereafter

,

9/11/27

.........................................

Netherlands

275,000

279,183

b

Intesa

Sanpaolo

SpA

,

Sub.

Bond

,

144A,

4.198%

to

5/31/31,

FRN

thereafter

,

6/01/32

.................................

Italy

251,000

238,023

JPMorgan

Chase

&

Co.

,

Senior

Bond

,

5.502%

to

1/23/35,

FRN

thereafter

,

1/24/36

...

United

States

133,000

139,620

Senior

Note

,

1.04%

to

2/03/26,

FRN

thereafter

,

2/04/27

.....

United

States

990,000

982,014

Senior

Note

,

6.07%

to

10/21/26,

FRN

thereafter

,

10/22/27

...

United

States

1,080,000

1,099,426

Senior

Note

,

5.14%

to

1/23/30,

FRN

thereafter

,

1/24/31

.....

United

States

337,000

348,279

Sub.

Bond

,

5.717%

to

9/13/32,

FRN

thereafter

,

9/14/33

.....

United

States

121,000

128,552

Sub.

Bond

,

5.576%

to

7/22/35,

FRN

thereafter

,

7/23/36

.....

United

States

95,000

98,563

Mitsubishi

UFJ

Financial

Group,

Inc.

,

Senior

Note

,

5.159%

to

4/23/30,

FRN

thereafter

,

4/24/31

......................

Japan

535,000

552,122

NatWest

Group

plc

,

Senior

Note

,

1.642%

to

6/13/26,

FRN

thereafter

,

6/14/27

.................................

United

Kingdom

301,000

296,240

PNC

Financial

Services

Group,

Inc.

(The)

,

Senior

Bond

,

5.373%

to

7/20/35,

FRN

thereafter

,

7/21/36

.....................

United

States

65,000

66,797

d

Truist

Bank

,

Sub.

Bond

,

FRN

,

4.632 %

,

(5-year

CMT

T-Note

+

1.15 %),

9/17/29

...................................

United

States

250,000

250,922

Truist

Financial

Corp.

,

Senior

Bond

,

5.711%

to

1/23/34,

FRN

thereafter

,

1/24/35

.................................

United

States

180,000

188,726

US

Bancorp

,

Sub.

Bond

,

2.491%

to

11/02/31,

FRN

thereafter

,

11/03/36

........................................

United

States

294,000

254,165

Wells

Fargo

&

Co.

,

c

BB

,

Junior

Sub.

Bond

,

3.9%

to

3/14/26,

FRN

thereafter

,

Perpetual

.......................................

United

States

120,000

119,286

Senior

Note

,

5.574%

to

7/24/28,

FRN

thereafter

,

7/25/29

....

United

States

220,000

227,734

Sub.

Bond

,

4.3 %

,

7/22/27

...........................

United

States

200,000

200,583

11,496,162

#### Biotechnology

#### 0.1%
AbbVie,

Inc.

,

Senior

Bond

,

5.05 %

,

3/15/34

................

United

States

63,000

64,833

Amgen,

Inc.

,

Senior

Bond

,

5.65 %

,

3/02/53

.........................

United

States

93,000

92,877

Senior

Note

,

5.25 %

,

3/02/30

.........................

United

States

185,000

192,050

349,760

#### Building

#### Products

#### 0.0%

#### †
Carlisle

Cos.,

Inc.

,

Senior

Bond

,

5.25 %

,

9/15/35

............

United

States

95,000

96,699

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Capital

#### Markets

#### 2.4%
Ares

Capital

Corp.

,

Senior

Note

,

3.875 %

,

1/15/26

...........

United

States

472,000

$

471,552

Bank

of

New

York

Mellon

(The)

,

Senior

Note

,

4.729%

to

4/19/28,

FRN

thereafter

,

4/20/29

.............................

United

States

615,000

625,078

Blackstone

Private

Credit

Fund

,

Senior

Note

,

3.25 %

,

3/15/27

..

United

States

169,000

165,882

Goldman

Sachs

Group,

Inc.

(The)

,

c

U

,

Junior

Sub.

Bond

,

3.65%

to

8/09/26,

FRN

thereafter

,

Perpetual

.......................................

United

States

57,000

56,075

Sub.

Bond

,

5.95 %

,

1/15/27

..........................

United

States

172,000

175,844

Intercontinental

Exchange,

Inc.

,

Senior

Note

,

4.35 %

,

6/15/29

...

United

States

200,000

201,786

Jefferies

Financial

Group,

Inc.

,

Senior

Note

,

4.5 %

,

9/15/26

..........................

United

States

300,000

301,407

Senior

Note

,

6.2 %

,

4/14/34

..........................

United

States

117,000

122,828

LPL

Holdings,

Inc.

,

Senior

Note

,

6.75 %

,

11/17/28

........................

United

States

128,000

136,559

Senior

Note

,

5.2 %

,

3/15/30

..........................

United

States

218,000

222,799

Morgan

Stanley

,

Senior

Note

,

5.123%

to

1/31/28,

FRN

thereafter

,

2/01/29

....

United

States

733,000

748,271

Senior

Note

,

4.994%

to

4/11/28,

FRN

thereafter

,

4/12/29

....

United

States

267,000

272,008

Senior

Note

,

5.23%

to

1/14/30,

FRN

thereafter

,

1/15/31

.....

United

States

285,000

294,305

Sub.

Bond

,

5.948%

to

1/18/33,

FRN

thereafter

,

1/19/38

.....

United

States

30,000

31,477

b

MSCI,

Inc.

,

Senior

Bond

,

144A,

3.625 %

,

9/01/30

............

United

States

451,000

429,265

Nasdaq,

Inc.

,

Senior

Bond

,

5.55 %

,

2/15/34

................

United

States

30,000

31,497

b

UBS

Group

AG

,

Senior

Note

,

144A,

1.305%

to

2/01/26,

FRN

thereafter

,

2/02/27

Switzerland

379,000

376,157

Senior

Note

,

144A,

5.428%

to

2/07/29,

FRN

thereafter

,

2/08/30

Switzerland

420,000

434,679

5,097,469

#### Chemicals

#### 0.3%
Celanese

US

Holdings

LLC

,

Senior

Note

,

6.665 %

,

7/15/27

....

United

States

124,000

127,369

FMC

Corp.

,

Sub.

Bond

,

8.45%

to

10/31/30,

FRN

thereafter

,

11/01/55

........................................

United

States

315,000

306,006

Huntsman

International

LLC

,

Senior

Bond

,

4.5 %

,

5/01/29

.....

United

States

250,000

231,202

664,577

#### Commercial

#### Services

#### &

#### Supplies

#### 0.5%
Republic

Services,

Inc.

,

Senior

Note

,

%

,

11/15/29

..........

United

States

378,000

391,444

Waste

Connections,

Inc.

,

Senior

Bond

,

%

,

3/01/34

..........

United

States

463,000

473,743

Waste

Management,

Inc.

,

Senior

Note

,

4.875 %

,

2/15/29

......

United

States

147,000

150,818

1,016,005

#### Communications

#### Equipment

#### 0.1%
Motorola

Solutions,

Inc.

,

Senior

Bond

,

2.3 %

,

11/15/30

.........................

United

States

52,000

47,085

Senior

Note

,

4.85 %

,

8/15/30

.........................

United

States

59,000

60,195

Senior

Note

,

5.2 %

,

8/15/32

..........................

United

States

200,000

205,937

313,217

#### Consumer

#### Finance

#### 1.4%
AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

,

Senior

Bond

,

3.3 %

,

1/30/32

..........................

Ireland

660,000

609,296

Ally

Financial,

Inc.

,

Senior

Bond

,

%

,

11/01/31

.............

United

States

162,000

184,500

American

Express

Co.

,

Senior

Note

,

5.098%

to

2/15/27,

FRN

thereafter

,

2/16/28

.................................

United

States

311,000

314,917

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Consumer

#### Finance
(continued)

b

Avolon

Holdings

Funding

Ltd.

,

Senior

Note

,

144A,

5.75 %

,

11/15/29

...................

Ireland

270,000

$

280,074

Senior

Note

,

144A,

4.9 %

,

10/10/30

....................

Ireland

295,000

296,507

Capital

One

Financial

Corp.

,

Senior

Note

,

1.878%

to

11/01/26,

FRN

thereafter

,

11/02/27

..

United

States

104,000

101,550

Senior

Note

,

4.493%

to

9/10/30,

FRN

thereafter

,

9/11/31

....

United

States

165,000

163,834

Ford

Motor

Credit

Co.

LLC

,

Senior

Note

,

5.8 %

,

3/05/27

.......

United

States

200,000

202,300

General

Motors

Financial

Co.,

Inc.

,

Senior

Bond

,

5.45 %

,

9/06/34

.........................

United

States

105,000

106,326

Senior

Note

,

4.2 %

,

10/27/28

.........................

United

States

70,000

69,843

Senior

Note

,

5.8 %

,

1/07/29

..........................

United

States

175,000

182,355

Senior

Note

,

4.9 %

,

10/06/29

.........................

United

States

66,000

66,977

b

Macquarie

Airfinance

Holdings

Ltd.

,

Senior

Note

,

144A,

5.15 %

,

3/17/30

....................

United

Kingdom

159,000

160,958

Senior

Note

,

144A,

6.5 %

,

3/26/31

.....................

United

Kingdom

180,000

192,187

2,931,624

#### Consumer

#### Staples

#### Distribution

#### &

#### Retail

#### 0.3%
b

7-Eleven,

Inc.

,

Senior

Bond

,

144A,

1.8 %

,

2/10/31

.....................

United

States

54,000

47,039

Senior

Note

,

144A,

1.3 %

,

2/10/28

.....................

United

States

483,000

452,885

b

Alimentation

Couche-Tard,

Inc.

,

Senior

Bond

,

144A,

3.55 %

,

7/26/27

.........................................

Canada

256,000

253,929

753,853

#### Containers

#### &

#### Packaging

#### 0.2%
Berry

Global,

Inc.

,

Senior

Secured

Note

,

1.65 %

,

1/15/27

..................

United

States

292,000

282,679

Senior

Secured

Note

,

5.5 %

,

4/15/28

...................

United

States

25,000

25,721

WestRock

MWV

LLC

,

Senior

Bond

,

8.2 %

,

1/15/30

...........

United

States

155,000

176,774

485,174

#### Diversified

#### REITs

#### 0.6%
GLP

Capital

LP

/

GLP

Financing

II,

Inc.

,

Senior

Bond

,

6.75 %

,

12/01/33

........................................

United

States

193,000

209,524

VICI

Properties

LP

,

Senior

Bond

,

5.75 %

,

4/01/34

.........................

United

States

257,000

265,887

Senior

Note

,

4.75 %

,

2/15/28

.........................

United

States

165,000

166,472

b

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.

,

Senior

Note

,

144A,

3.75 %

,

2/15/27

....................

United

States

62,000

61,411

Senior

Note

,

144A,

3.875 %

,

2/15/29

...................

United

States

510,000

498,510

1,201,804

#### Diversified

#### Telecommunication

#### Services

#### 0.2%
AT&T,

Inc.

,

Senior

Bond

,

2.55 %

,

12/01/33

........................

United

States

9,000

7,647

Senior

Note

,

4.1 %

,

2/15/28

..........................

United

States

95,000

94,847

Sprint

Capital

Corp.

,

Senior

Bond

,

6.875 %

,

11/15/28

.........

United

States

217,000

233,184

335,678

#### Electric

#### Utilities

#### 3.0%
American

Electric

Power

Co.,

Inc.

,

C

,

Junior

Sub.

Bond

,

5.8%

to

3/14/31,

FRN

thereafter

,

3/15/56

United

States

285,000

285,777

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Electric

#### Utilities
(continued)

American

Electric

Power

Co.,

Inc.,

(continued)

D

,

Junior

Sub.

Bond

,

6.05%

to

3/14/36,

FRN

thereafter

,

3/15/56

.........................................

United

States

95,000

$

96,285

Senior

Bond

,

5.625 %

,

3/01/33

........................

United

States

98,000

103,357

DTE

Electric

Co.

,

Senior

Bond

,

5.25 %

,

5/15/35

.............

United

States

100,000

103,331

Duke

Energy

Corp.

,

Senior

Bond

,

3.15 %

,

8/15/27

.........................

United

States

368,000

362,334

Senior

Bond

,

5.45 %

,

6/15/34

.........................

United

States

89,000

92,861

Senior

Bond

,

5.8 %

,

6/15/54

..........................

United

States

63,000

63,724

Senior

Note

,

4.85 %

,

1/05/29

.........................

United

States

26,000

26,499

b

Enel

Finance

International

NV

,

Senior

Bond

,

144A,

7.5 %

,

10/14/32

....................

Italy

410,000

473,184

Senior

Note

,

144A,

4.375 %

,

9/30/30

...................

Italy

235,000

233,603

Eversource

Energy

,

Senior

Note

,

5.45 %

,

3/01/28

............

United

States

49,000

50,272

Exelon

Corp.

,

Senior

Bond

,

5.625 %

,

6/15/35

........................

United

States

126,000

132,072

Senior

Note

,

5.15 %

,

3/15/29

.........................

United

States

383,000

394,040

FirstEnergy

Transmission

LLC

,

Senior

Note

,

4.55 %

,

1/15/30

...

United

States

155,000

156,070

Georgia

Power

Co.

,

Senior

Bond

,

4.95 %

,

5/17/33

.........................

United

States

121,000

123,589

Senior

Bond

,

5.25 %

,

3/15/34

.........................

United

States

275,000

284,041

IPALCO

Enterprises,

Inc.

,

Senior

Secured

Note

,

4.25 %

,

5/01/30

United

States

315,000

308,457

NextEra

Energy

Capital

Holdings,

Inc.

,

Senior

Bond

,

3.55 %

,

5/01/27

.........................

United

States

368,000

365,295

Senior

Bond

,

5.9 %

,

3/15/55

..........................

United

States

40,000

41,416

Senior

Note

,

5.3 %

,

3/15/32

..........................

United

States

130,000

135,670

Northern

States

Power

Co.

,

Senior

Bond

,

5.05 %

,

5/15/35

.....

United

States

180,000

184,743

Pacific

Gas

and

Electric

Co.

,

Senior

Bond

,

5.9 %

,

6/15/32

..........................

United

States

117,000

122,522

Senior

Bond

,

4.95 %

,

7/01/50

.........................

United

States

90,000

77,541

Senior

Bond

,

6.75 %

,

1/15/53

.........................

United

States

170,000

183,899

Senior

Note

,

5.55 %

,

5/15/29

.........................

United

States

324,000

333,694

Southern

Co.

(The)

,

Senior

Bond

,

5.7 %

,

3/15/34

..........................

United

States

167,000

176,378

Senior

Note

,

5.5 %

,

3/15/29

..........................

United

States

26,000

27,043

Virginia

Electric

and

Power

Co.

,

Senior

Bond

,

5.05 %

,

8/15/34

.........................

United

States

100,000

101,539

C

,

Senior

Bond

,

4.9 %

,

9/15/35

.......................

United

States

230,000

229,431

b

Vistra

Operations

Co.

LLC

,

Senior

Secured

Bond

,

144A,

4.3 %

,

7/15/29

..............

United

States

184,000

182,264

Senior

Secured

Bond

,

144A,

%

,

4/15/34

...............

United

States

368,000

386,333

Senior

Secured

Note

,

144A,

3.7 %

,

1/30/27

..............

United

States

224,000

222,312

Xcel

Energy,

Inc.

,

Senior

Bond

,

5.6 %

,

4/15/35

..............

United

States

190,000

197,247

6,256,823

#### Electrical

#### Equipment

#### 0.2%
b

Vertiv

Group

Corp.

,

Senior

Secured

Note

,

144A,

4.125 %

,

11/15/28

........................................

United

States

475,000

468,404

#### Electronic

#### Equipment,

#### Instruments

#### &

#### Components

#### 0.1%
e

Amphenol

Corp.

,

Senior

Note

,

4.4 %

,

2/15/33

...............

United

States

240,000

237,396

#### Entertainment

#### 0.3%
b

Netflix,

Inc.

,

Senior

Bond

,

Reg

S,

3.875 %

,

11/15/29

.................

United

States

435,000

EUR

523,733

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Entertainment
(continued)

b

Netflix,

Inc.,

(continued)

Senior

Bond

,

144A,

5.375 %

,

11/15/29

..................

United

States

20,000

$

20,888

544,621

#### Financial

#### Services

#### 0.3%
Corebridge

Financial,

Inc.

,

Senior

Note

,

3.85 %

,

4/05/29

.......

United

States

149,000

146,978

b

Petronas

Capital

Ltd.

,

Senior

Note

,

144A,

4.95 %

,

1/03/31

.....

Malaysia

380,000

392,770

539,748

#### Food

#### Products

#### 1.4%
JBS

USA

Holding

Lux

SARL

/

JBS

USA

Food

Co.

/

JBS

Lux

Co.

SARL

,

Senior

Note

,

%

,

2/02/29

...........................

United

States

192,000

184,134

Senior

Note

,

6.75 %

,

3/15/34

.........................

United

States

214,000

236,230

b

JBS

USA

LUX

SARL

/

JBS

USA

Food

Co.

/

JBS

USA

Foods

Group,

Inc.

,

Senior

Bond

,

144A,

5.95 %

,

4/20/35

...........

United

States

45,000

47,141

Kellanova

,

Senior

Bond

,

4.5 %

,

4/01/46

..........................

United

States

32,000

28,292

B

,

Senior

Bond

,

7.45 %

,

4/01/31

.......................

United

States

47,000

54,120

Kraft

Heinz

Foods

Co.

,

Senior

Bond

,

6.875 %

,

1/26/39

........................

United

States

65,000

72,518

Senior

Bond

,

4.625 %

,

10/01/39

.......................

United

States

65,000

59,208

b

Mars,

Inc.

,

Senior

Bond

,

144A,

5.65 %

,

5/01/45

....................

United

States

125,000

127,483

Senior

Bond

,

144A,

5.7 %

,

5/01/55

.....................

United

States

240,000

244,374

Senior

Bond

,

144A,

5.8 %

,

5/01/65

.....................

United

States

65,000

66,919

Senior

Note

,

144A,

4.6 %

,

3/01/28

.....................

United

States

575,000

581,853

Senior

Note

,

144A,

4.8 %

,

3/01/30

.....................

United

States

1,050,000

1,072,844

Senior

Note

,

144A,

4.65 %

,

4/20/31

....................

United

States

25,000

25,495

Senior

Note

,

144A,

%

,

3/01/32

......................

United

States

105,000

107,937

Senior

Note

,

144A,

5.2 %

,

3/01/35

.....................

United

States

135,000

138,613

Pilgrim's

Pride

Corp.

,

Senior

Note

,

3.5 %

,

3/01/32

...........

United

States

85,000

77,973

3,125,134

#### Ground

#### Transportation

#### 0.6%
b

Ashtead

Capital,

Inc.

,

Senior

Bond

,

144A,

4.375 %

,

8/15/27

....

United

Kingdom

435,000

434,494

b

Penske

Truck

Leasing

Co.

LP

/

PTL

Finance

Corp.

,

Senior

Bond

,

144A,

3.4 %

,

11/15/26

....................

United

States

93,000

92,220

Senior

Note

,

144A,

4.4 %

,

7/01/27

.....................

United

States

395,000

396,027

b

SMBC

Aviation

Capital

Finance

DAC

,

Senior

Note

,

144A,

5.3 %

,

4/03/29

.........................................

Ireland

485,000

498,647

1,421,388

#### Health

#### Care

#### Equipment

#### &

#### Supplies

#### 0.1%
GE

HealthCare

Technologies,

Inc.

,

Senior

Note

,

5.65 %

,

11/15/27

United

States

190,000

195,693

#### Health

#### Care

#### Providers

#### &

#### Services

#### 0.8%
CVS

Health

Corp.

,

Senior

Bond

,

4.78 %

,

3/25/38

.........................

United

States

127,000

119,392

Senior

Note

,

%

,

9/15/32

...........................

United

States

328,000

333,299

HCA,

Inc.

,

Senior

Bond

,

5.875 %

,

2/15/26

........................

United

States

150,000

150,181

Senior

Bond

,

5.6 %

,

4/01/34

..........................

United

States

200,000

208,287

Senior

Bond

,

%

,

4/01/54

...........................

United

States

263,000

266,791

Senior

Note

,

3.625 %

,

3/15/32

........................

United

States

59,000

55,546

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Health

#### Care

#### Providers

#### &

#### Services
(continued)

HCA,

Inc.,

(continued)

Senior

Note

,

4.6 %

,

11/15/32

.........................

United

States

115,000

$

114,320

Humana,

Inc.

,

Senior

Note

,

5.75 %

,

3/01/28

................

United

States

180,000

185,709

Icon

Investments

Six

DAC

,

Senior

Secured

Note

,

5.809 %

,

5/08/27

.........................................

United

States

215,000

219,554

1,653,079

#### Hotels,

#### Restaurants

#### &

#### Leisure

#### 0.9%
b

Carnival

Corp.

,

Senior

Note

,

144A,

5.125 %

,

5/01/29

...................

United

States

295,000

298,831

Senior

Note

,

144A,

5.75 %

,

3/15/30

....................

United

States

298,000

307,134

Senior

Note

,

144A,

5.75 %

,

8/01/32

....................

United

States

220,000

226,277

Senior

Secured

Note

,

144A,

%

,

8/01/28

................

United

States

687,000

676,256

Hyatt

Hotels

Corp.

,

Senior

Note

,

5.25 %

,

6/30/29

.........................

United

States

185,000

190,328

Senior

Note

,

5.375 %

,

12/15/31

.......................

United

States

120,000

122,961

Royal

Caribbean

Cruises

Ltd.

,

Senior

Bond

,

5.375 %

,

1/15/36

..

United

States

155,000

156,131

1,977,918

#### Household

#### Durables

#### 0.6%
DR

Horton,

Inc.

,

Senior

Bond

,

%

,

10/15/34

..........................

United

States

276,000

279,298

Senior

Bond

,

5.5 %

,

10/15/35

.........................

United

States

540,000

561,035

Toll

Brothers

Finance

Corp.

,

Senior

Bond

,

4.35 %

,

2/15/28

.........................

United

States

111,000

111,362

Senior

Bond

,

3.8 %

,

11/01/29

.........................

United

States

425,000

416,863

1,368,558

#### Independent

#### Power

#### and

#### Renewable

#### Electricity

#### Producers

#### 0.6%
b

AES

Andes

SA

,

Senior

Note

,

144A,

6.25 %

,

3/14/32

..........

Chile

200,000

208,836

b

Alexander

Funding

Trust

II

,

Senior

Secured

Note

,

144A,

7.467 %

,

7/31/28

.........................................

United

States

240,000

256,410

Constellation

Energy

Generation

LLC

,

Senior

Bond

,

6.125 %

,

1/15/34

........................

United

States

99,000

107,767

Senior

Bond

,

6.5 %

,

10/01/53

.........................

United

States

240,000

265,845

Senior

Bond

,

5.75 %

,

3/15/54

.........................

United

States

184,000

186,903

Senior

Note

,

5.6 %

,

3/01/28

..........................

United

States

342,000

353,558

Southern

Power

Co.

,

B

,

Senior

Bond

,

4.9 %

,

10/01/35

.......................

United

States

65,000

64,354

A

,

Senior

Note

,

4.25 %

,

10/01/30

......................

United

States

35,000

34,813

1,478,486

#### Insurance

#### 1.6%
Arthur

J

Gallagher

&

Co.

,

Senior

Note

,

4.85 %

,

12/15/29

......

United

States

125,000

127,674

b

Athene

Global

Funding

,

Secured

Note

,

144A,

1.985 %

,

8/19/28

..................

United

States

385,000

360,267

Secured

Note

,

144A,

5.526 %

,

7/11/31

..................

United

States

320,000

329,398

Secured

Note

,

144A,

5.322 %

,

11/13/31

.................

United

States

222,000

226,808

Athene

Holding

Ltd.

,

Senior

Bond

,

5.875 %

,

1/15/34

........................

United

States

119,000

123,616

Senior

Bond

,

6.25 %

,

4/01/54

.........................

United

States

108,000

107,680

Brown

&

Brown,

Inc.

,

Senior

Bond

,

5.55 %

,

6/23/35

.........................

United

States

118,000

121,527

Senior

Note

,

4.9 %

,

6/23/30

..........................

United

States

246,000

249,487

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Insurance
(continued)

Brown

&

Brown,

Inc.,

(continued)

Senior

Note

,

5.25 %

,

6/23/32

.........................

United

States

89,000

$

91,284

CNA

Financial

Corp.

,

Senior

Bond

,

5.125 %

,

2/15/34

.........

United

States

162,000

163,201

b

CNO

Global

Funding

,

Secured

Note

,

144A,

4.95 %

,

9/09/29

....

United

States

54,000

55,007

b

Massachusetts

Mutual

Life

Insurance

Co.

,

Sub.

Bond

,

144A,

3.729 %

,

10/15/70

..................................

United

States

387,000

261,161

b

MetLife

Capital

Trust

IV

,

Junior

Sub.

Bond

,

144A,

7.875 %

,

12/15/37

........................................

United

States

110,000

123,800

b

Nippon

Life

Insurance

Co.

,

Sub.

Bond

,

144A,

6.5%

to

4/29/35,

FRN

thereafter

,

4/30/55

.............................

Japan

385,000

417,543

b

Protective

Life

Global

Funding

,

Secured

Note

,

144A,

5.467 %

,

12/08/28

........................................

United

States

305,000

316,224

b

Teachers

Insurance

&

Annuity

Association

of

America

,

Sub.

Bond

,

144A,

6.85 %

,

12/16/39

..............................

United

States

92,000

106,132

3,180,809

#### Interactive

#### Media

#### &

#### Services

#### 0.6%
Meta

Platforms,

Inc.

,

Senior

Bond

,

5.75 %

,

5/15/63

.........................

United

States

710,000

708,397

Senior

Bond

,

5.55 %

,

8/15/64

.........................

United

States

140,000

135,677

Senior

Note

,

3.5 %

,

8/15/27

..........................

United

States

175,000

174,110

Senior

Note

,

4.6 %

,

11/15/32

.........................

United

States

180,000

180,958

1,199,142

#### Leisure

#### Products

#### 0.2%
Brunswick

Corp.

,

Senior

Bond

,

2.4 %

,

8/18/31

..........................

United

States

297,000

258,511

Senior

Bond

,

5.1 %

,

4/01/52

..........................

United

States

261,000

210,787

469,298

#### Life

#### Sciences

#### Tools

#### &

#### Services

#### 0.1%
Illumina,

Inc.

,

Senior

Note

,

4.65 %

,

9/09/26

................

United

States

150,000

150,430

#### Media

#### 0.7%
Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

Corp.

,

Senior

Secured

Bond

,

5.85 %

,

12/01/35

..............................

United

States

125,000

124,709

Comcast

Corp.

,

Senior

Bond

,

2.35 %

,

1/15/27

..............

United

States

368,000

361,349

Paramount

Global

,

Senior

Bond

,

4.2 %

,

6/01/29

..........................

United

States

150,000

146,950

Senior

Bond

,

4.95 %

,

1/15/31

.........................

United

States

110,000

107,897

Senior

Bond

,

4.375 %

,

3/15/43

........................

United

States

108,000

81,840

Senior

Note

,

3.7 %

,

6/01/28

..........................

United

States

59,000

57,866

Time

Warner

Cable

Enterprises

LLC

,

Senior

Secured

Bond

,

8.375 %

,

7/15/33

...................................

United

States

448,000

519,802

1,400,413

#### Metals

#### &

#### Mining

#### 0.4%
b

Glencore

Finance

Canada

Ltd.

,

Senior

Bond

,

144A,

%

,

11/15/41

Australia

115,000

120,090

b

Glencore

Funding

LLC

,

Senior

Bond

,

144A,

5.634 %

,

4/04/34

...................

Australia

396,000

413,137

Senior

Note

,

144A,

6.375 %

,

10/06/30

..................

Australia

247,000

266,501

799,728

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Multi-Utilities

#### 0.3%
Ameren

Corp.

,

Senior

Note

,

%

,

1/15/29

..................

United

States

198,000

$

203,004

Dominion

Energy,

Inc.

,

Junior

Sub.

Bond

,

6.2%

to

2/14/36,

FRN

thereafter

,

2/15/56

.................................

United

States

140,000

141,657

DTE

Energy

Co.

,

Senior

Note

,

4.95 %

,

7/01/27

..............

United

States

155,000

156,918

Southern

Co.

Gas

Capital

Corp.

,

Senior

Bond

,

4.95 %

,

9/15/34

.

United

States

100,000

100,650

602,229

#### Oil,

#### Gas

#### &

#### Consumable

#### Fuels

#### 2.7%
b

Aker

BP

ASA

,

Senior

Bond

,

144A,

5.8 %

,

10/01/54

...........

Norway

190,000

176,141

Canadian

Natural

Resources

Ltd.

,

Senior

Bond

,

7.2 %

,

1/15/32

..........................

Canada

238,000

267,801

b

Senior

Note

,

144A,

%

,

12/15/29

.....................

Canada

104,000

106,265

Cheniere

Energy

Partners

LP

,

Senior

Bond

,

3.25 %

,

1/31/32

.........................

United

States

137,000

125,228

Senior

Note

,

4.5 %

,

10/01/29

.........................

United

States

242,000

242,141

b

Columbia

Pipelines

Operating

Co.

LLC

,

Senior

Note

,

144A,

5.927 %

,

8/15/30

...................................

United

States

95,000

100,595

b

DT

Midstream,

Inc.

,

Senior

Secured

Bond

,

144A,

5.8 %

,

12/15/34

United

States

310,000

320,928

Eastern

Energy

Gas

Holdings

LLC

,

Senior

Bond

,

5.8 %

,

1/15/35

..........................

United

States

137,000

144,584

Senior

Bond

,

5.65 %

,

10/15/54

........................

United

States

53,000

52,200

Energy

Transfer

LP

,

c

B

,

Junior

Sub.

Bond

,

6.625%

to

2/14/28,

FRN

thereafter

,

Perpetual

.......................................

United

States

330,000

329,963

Senior

Note

,

5.25 %

,

7/01/29

.........................

United

States

203,000

208,941

Senior

Note

,

5.2 %

,

4/01/30

..........................

United

States

120,000

123,787

b

KazMunayGas

National

Co.

JSC

,

Senior

Bond

,

Reg

S,

5.375 %

,

4/24/30

.........................................

Kazakhstan

260,000

267,450

Kinder

Morgan

Energy

Partners

LP

,

Senior

Bond

,

5.4 %

,

9/01/44

United

States

198,000

190,237

Kinder

Morgan,

Inc.

,

Senior

Note

,

%

,

2/01/29

.............

United

States

139,000

142,161

Occidental

Petroleum

Corp.

,

Senior

Note

,

8.5 %

,

7/15/27

..........................

United

States

286,000

301,399

Senior

Note

,

5.2 %

,

8/01/29

..........................

United

States

140,000

143,047

ONEOK,

Inc.

,

Senior

Note

,

4.75 %

,

10/15/31

...............

United

States

265,000

265,138

b

Pertamina

Hulu

Energi

PT

,

Senior

Note

,

144A,

5.25 %

,

5/21/30

.

Indonesia

230,000

235,046

b

Raizen

Fuels

Finance

SA

,

Senior

Note

,

144A,

6.25 %

,

7/08/32

..

Brazil

200,000

170,250

South

Bow

USA

Infrastructure

Holdings

LLC

,

Senior

Note

,

5.026 %

,

10/01/29

.......................

Canada

505,000

510,414

Senior

Note

,

5.584 %

,

10/01/34

.......................

Canada

130,000

130,546

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp.

,

Senior

Bond

,

4.875 %

,

2/01/31

............

United

States

84,000

84,219

b

Venture

Global

Calcasieu

Pass

LLC

,

Senior

Secured

Note

,

144A,

6.25 %

,

1/15/30

...................................

United

States

545,000

556,400

Viper

Energy

Partners

LLC

,

Senior

Bond

,

5.7 %

,

8/01/35

..........................

United

States

126,000

128,571

Senior

Note

,

4.9 %

,

8/01/30

..........................

United

States

128,000

129,213

Williams

Cos.,

Inc.

(The)

,

Senior

Bond

,

5.6 %

,

3/15/35

........

United

States

175,000

181,688

5,634,353

#### Paper

#### &

#### Forest

#### Products

#### 0.1%
b

Georgia-Pacific

LLC

,

Senior

Note

,

144A,

4.95 %

,

6/30/32

......

United

States

280,000

287,198

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Passenger

#### Airlines

#### 0.2%
b

AS

Mileage

Plan

IP

Ltd.

,

Senior

Secured

Note

,

144A,

5.021 %

,

10/20/29

........................................

United

States

345,000

$

344,161

#### Personal

#### Care

#### Products

#### 0.5%
Haleon

US

Capital

LLC

,

Senior

Note

,

3.375 %

,

3/24/27

........................

United

States

250,000

247,858

Senior

Note

,

3.375 %

,

3/24/29

........................

United

States

310,000

302,082

Kenvue,

Inc.

,

Senior

Note

,

4.85 %

,

5/22/32

.................

United

States

460,000

466,187

1,016,127

#### Pharmaceuticals

#### 0.6%
Bristol-Myers

Squibb

Co.

,

Senior

Note

,

4.9 %

,

2/22/29

........

United

States

52,000

53,374

Pfizer

Investment

Enterprises

Pte.

Ltd.

,

Senior

Bond

,

5.3 %

,

5/19/53

..........................

United

States

124,000

120,030

Senior

Note

,

4.45 %

,

5/19/28

.........................

United

States

102,000

103,081

Pharmacia

LLC

,

Senior

Bond

,

6.6 %

,

12/01/28

..............

United

States

190,000

204,013

Royalty

Pharma

plc

,

Senior

Bond

,

5.4 %

,

9/02/34

..........................

United

States

191,000

195,343

Senior

Bond

,

5.2 %

,

9/25/35

..........................

United

States

130,000

130,288

Senior

Note

,

5.15 %

,

9/02/29

.........................

United

States

154,000

157,989

Zoetis,

Inc.

,

Senior

Bond

,

%

,

8/17/35

....................

United

States

520,000

525,548

1,489,666

#### Professional

#### Services

#### 0.2%
Paychex,

Inc.

,

Senior

Note

,

5.1 %

,

4/15/30

.................

United

States

492,000

506,026

#### Semiconductors

#### &

#### Semiconductor

#### Equipment

#### 1.0%
Broadcom,

Inc.

,

b

Senior

Bond

,

144A,

4.926 %

,

5/15/37

...................

United

States

364,000

362,629

Senior

Note

,

3.459 %

,

9/15/26

........................

United

States

600,000

597,481

b

Foundry

JV

Holdco

LLC

,

Senior

Secured

Note

,

144A,

6.15 %

,

1/25/32

.............

United

States

355,000

378,767

Senior

Secured

Note

,

144A,

5.9 %

,

1/25/33

..............

United

States

200,000

210,703

Intel

Corp.

,

Senior

Bond

,

4.15 %

,

8/05/32

..................

United

States

380,000

367,211

Marvell

Technology,

Inc.

,

Senior

Note

,

4.75 %

,

7/15/30

........

United

States

75,000

75,930

1,992,721

#### Software

#### 0.4%
Oracle

Corp.

,

Senior

Bond

,

2.875 %

,

3/25/31

........................

United

States

85,000

77,504

Senior

Bond

,

3.65 %

,

3/25/41

.........................

United

States

154,000

119,664

Senior

Bond

,

%

,

11/15/47

..........................

United

States

54,000

40,353

Senior

Note

,

4.45 %

,

9/26/30

.........................

United

States

130,000

128,957

Senior

Note

,

4.8 %

,

9/26/32

..........................

United

States

170,000

168,299

Synopsys,

Inc.

,

Senior

Bond

,

5.15 %

,

4/01/35

.........................

United

States

250,000

254,059

Senior

Bond

,

5.7 %

,

4/01/55

..........................

United

States

20,000

20,221

809,057

#### Specialized

#### REITs

#### 0.6%
American

Tower

Corp.

,

Senior

Bond

,

3.55 %

,

7/15/27

.........................

United

States

446,000

441,659

Senior

Bond

,

3.8 %

,

8/15/29

..........................

United

States

200,000

196,405

Senior

Bond

,

2.9 %

,

1/15/30

..........................

United

States

217,000

204,938

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Specialized

#### REITs
(continued)

Crown

Castle,

Inc.

,

Senior

Bond

,

3.65 %

,

9/01/27

.........................

United

States

172,000

$

170,277

Senior

Bond

,

3.8 %

,

2/15/28

..........................

United

States

100,000

98,956

EPR

Properties

,

Senior

Bond

,

4.5 %

,

6/01/27

...............

United

States

58,000

58,020

Equinix,

Inc.

,

Senior

Bond

,

3.2 %

,

11/18/29

................

United

States

168,000

161,249

1,331,504

#### Specialty

#### Retail

#### 0.2%
Dick's

Sporting

Goods,

Inc.

,

Senior

Bond

,

3.15 %

,

1/15/32

.........................

United

States

185,000

169,916

Senior

Bond

,

4.1 %

,

1/15/52

..........................

United

States

200,000

149,353

319,269

#### Technology

#### Hardware,

#### Storage

#### &

#### Peripherals

#### 0.1%
Hewlett

Packard

Enterprise

Co.

,

Senior

Note

,

4.55 %

,

10/15/29

........................

United

States

139,000

139,834

Senior

Note

,

4.85 %

,

10/15/31

........................

United

States

162,000

163,730

303,564

#### Textiles,

#### Apparel

#### &

#### Luxury

#### Goods

#### 0.2%
PVH

Corp.

,

Senior

Note

,

5.5 %

,

6/13/30

...................

United

States

19,000

19,360

Tapestry,

Inc.

,

Senior

Bond

,

3.05 %

,

3/15/32

.........................

United

States

57,000

51,543

Senior

Bond

,

5.5 %

,

3/11/35

..........................

United

States

170,000

173,210

Senior

Note

,

5.1 %

,

3/11/30

..........................

United

States

140,000

143,459

387,572

#### Tobacco

#### 0.7%
BAT

Capital

Corp.

,

Senior

Note

,

4.625 %

,

3/22/33

...........

United

Kingdom

245,000

242,118

Philip

Morris

International,

Inc.

,

Senior

Note

,

4.875 %

,

2/13/29

........................

United

States

535,000

546,375

Senior

Note

,

5.125 %

,

2/15/30

........................

United

States

626,000

646,405

1,434,898

#### Trading

#### Companies

#### &

#### Distributors

#### 0.5%
Air

Lease

Corp.

,

Senior

Note

,

5.85 %

,

12/15/27

.............

United

States

139,000

142,907

b

Aviation

Capital

Group

LLC

,

Senior

Note

,

144A,

6.25 %

,

4/15/28

....................

United

States

270,000

280,985

Senior

Note

,

144A,

5.375 %

,

7/15/29

...................

United

States

260,000

266,166

Senior

Note

,

144A,

5.125 %

,

4/10/30

...................

United

States

275,000

279,264

969,322

#### Wireless

#### Telecommunication

#### Services

#### 0.8%
Rogers

Communications,

Inc.

,

Senior

Note

,

%

,

2/15/29

...........................

Canada

306,000

311,663

Senior

Note

,

3.8 %

,

3/15/32

..........................

Canada

144,000

135,770

Sub.

Bond

,

7.125%

to

4/14/35,

FRN

thereafter

,

4/15/55

.....

Canada

160,000

171,326

NC5

,

Sub.

Bond

,

7%

to

4/14/30,

FRN

thereafter

,

4/15/55

....

Canada

320,000

334,993

T-Mobile

USA,

Inc.

,

Senior

Bond

,

5.05 %

,

7/15/33

.........................

United

States

11,000

11,190

Senior

Note

,

3.75 %

,

4/15/27

.........................

United

States

329,000

327,224

Senior

Note

,

2.05 %

,

2/15/28

.........................

United

States

240,000

229,288

Senior

Note

,

3.375 %

,

4/15/29

........................

United

States

198,000

192,496

Senior

Note

,

3.875 %

,

4/15/30

........................

United

States

11,000

10,778

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Corporate

#### Bonds
(continued)

#### Wireless

#### Telecommunication

#### Services
(continued)

T-Mobile

USA,

Inc.,

(continued)

Senior

Note

,

6.7 %

,

12/15/33

.........................

United

States

25,000

$

27,974

1,752,702

#### Total

#### Corporate

#### Bonds

#### (Cost

#### $

#### 72,860,013

####)
....................................

#### 73,835,608

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### 31.9%
b

Australia

Government

Bond

,

Senior

Bond

,

Reg

S,

2.25 %

,

5/21/28

...................

Australia

1,640,000

AUD

1,038,811

Senior

Bond

,

Reg

S,

3.75 %

,

4/21/37

...................

Australia

220,000

AUD

135,731

Senior

Bond

,

Reg

S,

%

,

3/21/47

......................

Australia

310,000

AUD

153,289

b

Austria

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

0.5 %

,

2/20/29

...............

Austria

630,000

EUR

687,007

Senior

Bond

,

144A,

Reg

S,

1.5 %

,

2/20/47

...............

Austria

360,000

EUR

291,870

b

Bank

Gospodarstwa

Krajowego

,

Senior

Bond

,

Reg

S,

5.375 %

,

5/22/33

.........................................

Poland

200,000

209,227

b

Belgium

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

%

,

6/22/26

.................

Belgium

740,000

EUR

847,867

Senior

Bond

,

144A,

Reg

S,

0.1 %

,

6/22/30

...............

Belgium

1,500,000

EUR

1,551,949

Senior

Bond

,

144A,

Reg

S,

3.1 %

,

6/22/35

...............

Belgium

1,200,000

EUR

1,374,781

Senior

Bond

,

144A,

Reg

S,

4.25 %

,

3/28/41

..............

Belgium

630,000

EUR

778,545

b

Benin

Government

Bond

,

Senior

Bond

,

Reg

S,

4.95 %

,

1/22/35

.

Benin

225,000

EUR

242,921

Brazil

Government

Bond

,

Senior

Bond

,

3.875 %

,

6/12/30

........................

Brazil

400,000

384,560

Senior

Bond

,

%

,

10/20/33

...........................

Brazil

200,000

205,000

b

Bulgaria

Government

Bond

,

Senior

Bond

,

Reg

S,

%

,

3/05/37

......................

Bulgaria

88,000

88,522

Senior

Note

,

Reg

S,

3.625 %

,

9/05/32

...................

Bulgaria

110,000

EUR

131,398

b

Bundesobligation

,

Reg

S,

2.5 %

,

10/11/29

.................

Germany

900,000

EUR

1,051,721

b

Bundesrepublik

Deutschland

Bundesanleihe

,

Reg

S,

2.6 %

,

8/15/34

.........................................

Germany

900,000

EUR

1,040,802

Chile

Government

Bond

,

Senior

Bond

,

5.65 %

,

1/13/37

.......

Chile

320,000

339,584

Colombia

Government

Bond

,

Senior

Bond

,

3.125 %

,

4/15/31

........................

Colombia

200,000

175,920

Senior

Bond

,

7.5 %

,

2/02/34

..........................

Colombia

390,000

414,550

b

Comision

Federal

de

Electricidad

,

Senior

Bond

,

Reg

S,

3.875 %

,

7/26/33

.........................................

Mexico

300,000

265,894

b

Corp.

Nacional

del

Cobre

de

Chile

,

Senior

Bond

,

144A,

6.33 %

,

1/13/35

.........................................

Chile

200,000

213,880

Denmark

Government

Bond

,

0.5 %

,

11/15/27

....................................

Denmark

1,550,000

DKK

233,463

4.5 %

,

11/15/39

....................................

Denmark

650,000

DKK

121,350

b

Dominican

Republic

Government

Bond

,

Senior

Bond

,

144A,

6.95 %

,

3/15/37

....................

Dominican

Republic

250,000

267,037

Senior

Bond

,

Reg

S,

5.95 %

,

1/25/27

...................

Dominican

Republic

241,000

244,808

b

Eagle

Funding

Luxco

SARL

,

Senior

Note

,

144A,

5.5 %

,

8/17/30

.

Mexico

260,000

264,459

Ecopetrol

SA

,

Senior

Bond

,

4.625 %

,

11/02/31

..............

Colombia

70,000

62,837

b

Finland

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

1.125 %

,

4/15/34

.........................................

Finland

370,000

EUR

371,175

b

France

Government

Bond

,

144A,

Reg

S,

0.5 %

,

5/25/26

..........................

France

230,000

EUR

262,879

144A,

Reg

S,

2.75 %

,

10/25/27

........................

France

1,440,000

EUR

1,679,753

144A,

Reg

S,

2.75 %

,

2/25/29

.........................

France

1,500,000

EUR

1,749,481

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities
(continued)

b

France

Government

Bond,

(continued)

144A,

Reg

S,

0.5 %

,

5/25/29

..........................

France

830,000

EUR

$

895,033

144A,

Reg

S,

11/25/30

..............................

France

560,000

EUR

565,326

144A,

Reg

S,

%

,

5/25/33

...........................

France

620,000

EUR

710,980

144A,

Reg

S,

%

,

11/25/34

..........................

France

1,750,000

EUR

1,972,073

144A,

Reg

S,

4.5 %

,

4/25/41

..........................

France

780,000

EUR

968,477

144A,

Reg

S,

3.25 %

,

5/25/45

.........................

France

140,000

EUR

145,165

144A,

Reg

S,

%

,

4/25/55

...........................

France

480,000

EUR

530,355

b

Guatemala

Government

Bond

,

Senior

Bond

,

Reg

S,

6.6 %

,

6/13/36

....................

Guatemala

200,000

216,000

Senior

Note

,

144A,

7.05 %

,

10/04/32

....................

Guatemala

400,000

443,250

b

Hungary

Government

Bond

,

Senior

Note

,

Reg

S,

5.25 %

,

6/16/29

Hungary

260,000

266,069

b

Indonesia

Government

Bond

,

Senior

Bond

,

Reg

S,

4.35 %

,

1/08/27

.........................................

Indonesia

500,000

502,336

b

Ireland

Government

Bond

,

Reg

S,

1.1 %

,

5/15/29

...............................

Ireland

260,000

EUR

288,662

Reg

S,

%

,

2/18/45

................................

Ireland

110,000

EUR

102,332

b

Italy

Buoni

Poliennali

del

Tesoro

,

Senior

Bond

,

144A,

Reg

S,

1.65 %

,

3/01/32

..............

Italy

1,730,000

EUR

1,859,358

Senior

Bond

,

144A,

Reg

S,

%

,

2/01/37

.................

Italy

450,000

EUR

546,139

Senior

Bond

,

144A,

Reg

S,

3.1 %

,

3/01/40

...............

Italy

100,000

EUR

107,535

Senior

Bond

,

144A,

Reg

S,

4.75 %

,

9/01/44

..............

Italy

500,000

EUR

639,871

Senior

Bond

,

144A,

Reg

S,

1.7 %

,

9/01/51

...............

Italy

280,000

EUR

201,119

Senior

Bond

,

Reg

S,

6.5 %

,

11/01/27

...................

Italy

1,520,000

EUR

1,901,235

Senior

Note

,

Reg

S,

3.5 %

,

1/15/26

.....................

Italy

580,000

EUR

670,504

Senior

Note

,

Reg

S,

2.95 %

,

7/01/30

....................

Italy

1,000,000

EUR

1,170,356

b

Ivory

Coast

Government

Bond

,

Senior

Bond

,

Reg

S,

6.125 %

,

6/15/33

.........................................

Ivory

Coast

340,000

331,547

Japan

Government

Bond

,

0.1 %

,

3/20/27

....................................

Japan

600,000,000

JPY

3,855,883

2.3 %

,

6/20/27

....................................

Japan

205,000,000

JPY

1,361,185

2.2 %

,

3/20/31

....................................

Japan

845,000,000

JPY

5,759,136

0.4 %

,

3/20/36

....................................

Japan

435,000,000

JPY

2,473,196

2.3 %

,

3/20/40

....................................

Japan

310,000,000

JPY

2,048,122

0.3 %

,

6/20/46

....................................

Japan

171,000,000

JPY

697,622

0.8 %

,

3/20/47

....................................

Japan

93,000,000

JPY

418,399

2.2 %

,

3/20/51

....................................

Japan

212,000,000

JPY

1,181,123

2.1 %

,

9/20/54

....................................

Japan

90,000,000

JPY

474,759

0.5 %

,

3/20/60

....................................

Japan

102,000,000

JPY

307,049

b

Kazakhstan

Government

Bond

,

Senior

Bond

,

Reg

S,

4.714 %

,

4/09/35

.........................................

Kazakhstan

260,000

257,304

Malaysia

Government

Bond

,

3.582 %

,

7/15/32

..............

Malaysia

2,280,000

MYR

548,579

Mexican

Bonos

Desarr

Fixed

Rate

,

M

,

7.75 %

,

5/29/31

........

Mexico

10,900,000

f

MXN

572,545

Mexico

Government

Bond

,

Senior

Bond

,

2.659 %

,

5/24/31

.....

Mexico

450,000

403,335

b

Netherlands

Government

Bond

,

144A,

Reg

S,

0.5 %

,

7/15/26

..........................

Netherlands

300,000

EUR

342,471

144A,

Reg

S,

0.25 %

,

7/15/29

.........................

Netherlands

290,000

EUR

311,448

144A,

Reg

S,

3.75 %

,

1/15/42

.........................

Netherlands

410,000

EUR

508,900

New

Zealand

Government

Bond

,

%

,

4/20/29

..............

New

Zealand

380,000

NZD

217,160

b

Norway

Government

Bond

,

Senior

Bond

,

144A,

Reg

S,

1.75 %

,

2/17/27

.........................................

Norway

1,880,000

NOK

180,735

Panama

Government

Bond

,

Senior

Note

,

7.5 %

,

3/01/31

......

Panama

420,000

465,990

b

Paraguay

Government

Bond

,

Senior

Bond

,

Reg

S,

4.7 %

,

3/27/27

....................

Paraguay

200,000

201,428

Senior

Bond

,

Reg

S,

4.95 %

,

4/28/31

...................

Paraguay

370,000

376,053

Peru

Government

Bond

,

Senior

Bond

,

2.783 %

,

1/23/31

.......

Peru

580,000

537,544

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Foreign

#### Government

#### and

#### Agency

#### Securities
(continued)

b

Perusahaan

Perseroan

Persero

PT

Perusahaan

Listrik

Negara

,

Senior

Bond

,

Reg

S,

5.45 %

,

5/21/28

...................

Indonesia

260,000

$

267,111

Petroleos

Mexicanos

,

Senior

Note

,

6.7 %

,

2/16/32

...........

Mexico

145,000

144,966

Philippines

Government

Bond

,

Senior

Bond

,

5.5 %

,

2/04/35

....

Philippines

360,000

383,743

Poland

Government

Bond

,

5.75 %

,

4/25/29

................

Poland

1,480,000

PLN

418,080

b

Portugal

Obrigacoes

do

Tesouro

OT

,

Senior

Bond

,

144A,

Reg

S,

0.3 %

,

10/17/31

...................................

Portugal

320,000

EUR

324,467

b

Power

Finance

Corp.

Ltd.

,

Senior

Bond

,

Reg

S,

3.95 %

,

4/23/30

.

India

270,000

263,312

b

Romania

Government

Bond

,

Senior

Bond

,

Reg

S,

5.625 %

,

2/22/36

..................

Romania

250,000

EUR

284,250

Senior

Note

,

144A,

%

,

2/27/27

.......................

Romania

390,000

383,066

South

Africa

Government

Bond

,

Senior

Bond

,

4.85 %

,

9/27/27

..

South

Africa

400,000

404,989

b

Southern

Gas

Corridor

CJSC

,

Senior

Bond

,

Reg

S,

6.875 %

,

3/24/26

.........................................

Azerbaijan

250,000

252,743

b

Spain

Bonos

Y

Obligaciones

del

Estado

,

Senior

Bond

,

144A,

Reg

S,

1.95 %

,

4/30/26

..............

Spain

850,000

EUR

979,410

Senior

Bond

,

144A,

Reg

S,

2.9 %

,

10/31/46

..............

Spain

210,000

EUR

212,639

b

Spain

Government

Bond

,

144A,

Reg

S,

5.15 %

,

10/31/28

........................

Spain

800,000

EUR

999,979

Senior

Bond

,

144A,

Reg

S,

3.55 %

,

10/31/33

.............

Spain

1,010,000

EUR

1,216,259

Senior

Bond

,

144A,

Reg

S,

5.15 %

,

10/31/44

.............

Spain

410,000

EUR

565,553

Senior

Bond

,

144A,

Reg

S,

%

,

10/31/50

................

Spain

50,000

EUR

31,672

b

Sweden

Government

Bond

,

Reg

S,

%

,

11/12/26

...............................

Sweden

6,950,000

SEK

724,813

Reg

S,

3.5 %

,

3/30/39

...............................

Sweden

660,000

SEK

75,533

b

Switzerland

Government

Bond

,

Reg

S,

%

,

4/08/28

................................

Switzerland

540,000

CHF

739,049

Reg

S,

1.5 %

,

4/30/42

...............................

Switzerland

290,000

CHF

429,466

Thailand

Government

Bond

,

Senior

Bond

,

%

,

12/17/31

...........................

Thailand

15,700,000

THB

498,231

Senior

Bond

,

2.41 %

,

3/17/35

.........................

Thailand

15,500,000

THB

508,321

Turkiye

Government

Bond

,

Senior

Bond

,

5.95 %

,

1/15/31

......

Turkiye

380,000

380,519

b

United

Kingdom

Gilt

,

Reg

S,

%

,

12/07/28

...............................

United

Kingdom

420,000

GBP

588,938

Reg

S,

3.5 %

,

7/22/68

...............................

United

Kingdom

610,000

GBP

580,000

Uruguay

Government

Bond

,

Senior

Bond

,

4.375 %

,

1/23/31

........................

Uruguay

100,000

101,260

g

Senior

Bond

,

PIK,

7.875 %

,

1/15/33

....................

Uruguay

475,000

571,691

b

Uzbekistan

Government

Bond

,

Senior

Note

,

144A,

6.9 %

,

2/28/32

Uzbekistan

240,000

260,750

#### Total

#### Foreign

#### Government

#### and

#### Agency

#### Securities

#### (Cost

#### $

#### 73,006,334

####)
............

#### 68,005,569

#### Asset-Backed

#### Securities

#### 5.6%

#### Capital

#### Markets

#### 0.2%
b

,h

Magnetite

XL

Ltd.

,

2024-40A

,

A1

,

144A,

FRN

,

5.355 %

,

(3-month

SOFR

+

1.45 %),

7/15/37

.

............................

United

States

512,000

514,328

#### Financial

#### Services

#### 5.4%
b

,h

AIMCO

CLO

Ltd.

,

2022-17A

,

A1R

,

144A,

FRN

,

5.207 %

,

(3-month

SOFR

+

1.35 %),

7/20/37

.

....................

Jersey

350,000

350,966

b

,h

Allegro

CLO

XII

Ltd.

,

2020-1A

,

A1R

,

144A,

FRN

,

5.31 %

,

(3-month

SOFR

+

1.44 %),

7/21/37

.

............................

United

States

250,000

250,619

b

,h

Apex

Credit

CLO

Ltd.

,

2024-2A

,

A

,

144A,

FRN

,

5.378 %

,

(3-month

SOFR

+

1.52 %),

7/25/37

.

............................

United

States

250,000

250,798

b

,h

Bain

Capital

Credit

CLO

Ltd.

,

2022-2A

,

A1R

,

144A,

FRN

,

5.007 %

,

(3-month

SOFR

+

1.15 %),

4/22/35

.

....................

United

States

250,000

250,237

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Asset-Backed

#### Securities
(continued)

#### Financial

#### Services
(continued)

b

,h

Battalion

CLO

Ltd.

,

2020-18A

,

ARR

,

144A,

FRN

,

5.085 %

,

(3-month

SOFR

+

1.18 %),

10/15/36

.

...................

United

States

260,000

$

260,256

b

Bayview

Opportunity

Master

Fund

VII

Trust

,

2023-1A

,

A

,

144A,

6.93 %

,

10/28/60

.

..................................

United

States

139,137

143,111

b

,h

Birch

Grove

CLO

Ltd.

,

2021-2A

,

A1R

,

144A,

FRN

,

5.284 %

,

(3-month

SOFR

+

1.4 %),

10/19/37

.

....................

United

States

250,000

250,820

b

,h

Birch

Grove

CLO

Ltd.

,

2024-8A

,

A1

,

144A,

FRN

,

5.514 %

,

(3-month

SOFR

+

1.63 %),

4/20/37

.

....................

Jersey

150,000

150,721

h

Carrington

Mortgage

Loan

Trust

,

2006-NC2

,

A4

,

FRN

,

4.586 %

,

(1-month

SOFR

+

0.594 %),

6/25/36

.

...................

United

States

95,061

91,966

b

,h

CBAM

Ltd.

,

2017-2A

,

AR

,

144A,

FRN

,

5.333 %

,

(3-month

SOFR

+

1.452 %),

7/17/34

.

.................................

United

States

175,000

175,199

b

,h

CIFC

Funding

Ltd.

,

2021-4A

,

AR

,

144A,

FRN

,

5.22 %

,

(3-month

SOFR

+

1.36 %),

7/23/37

.........................................

United

States

250,000

250,694

2021-7A

,

AR

,

144A,

FRN

,

4.95 %

,

(3-month

SOFR

+

1.09 %),

1/23/35

.........................................

United

States

909,000

909,652

b

,e

Compass

Datacenters

Issuer

II

LLC

,

2025-2A

,

A1

,

144A,

4.926 %

,

11/25/50

.

........................................

United

States

458,000

459,577

b

,h

Diameter

Capital

CLO

Ltd.

,

2024-7A

,

A1A

,

144A,

FRN

,

5.364 %

,

(3-month

SOFR

+

1.48 %),

7/20/37

.

....................

United

States

250,000

251,144

b

,h

Elevation

CLO

Ltd.

,

2018-10A

,

AR

,

144A,

FRN

,

4.804 %

,

(3-month

SOFR

+

0.92 %),

10/20/31

........................................

United

States

49,828

49,883

2021-13A

,

A1R

,

144A,

FRN

,

4.965 %

,

(3-month

SOFR

+

1.06 %),

7/15/34

...................................

United

States

250,000

250,147

b

,h

Elmwood

CLO

Ltd.

,

2024-3A

,

A

,

144A,

FRN

,

5.404 %

,

(3-month

SOFR

+

1.52 %),

4/18/37

.

....................

United

States

300,000

301,350

b

,h

Elmwood

CLO

Ltd.

,

2024-9RA

,

AR

,

144A,

FRN

,

5.25 %

,

(3-month

SOFR

+

1.38 %),

10/21/37

.

...................

United

States

250,000

250,711

b

,h

Elmwood

CLO

I

Ltd.

,

2019-1A

,

A1RR

,

144A,

FRN

,

5.404 %

,

(3-month

SOFR

+

1.52 %),

4/20/37

.

....................

United

States

225,000

225,895

b

,h

Elmwood

CLO

III

Ltd.

,

2019-3A

,

A1RR

,

144A,

FRN

,

5.264 %

,

(3-month

SOFR

+

1.38 %),

7/18/37

.

....................

United

States

250,000

250,715

b

FIGRE

Trust

,

2025-FL1

,

A1

,

144A,

5.265 %

,

7/25/55

.

.........

United

States

136,731

137,030

b

,h

GoldenTree

Loan

Management

US

CLO

Ltd.

,

2021-9A

,

AR

,

144A,

FRN

,

5.384 %

,

(3-month

SOFR

+

1.5 %),

4/20/37

.

.....

United

States

250,000

251,212

i

GSAA

Home

Equity

Trust

,

2006-15

,

AF3A

,

FRN

,

5.882 %

,

9/25/36

.

United

States

827,955

261,185

b

,h

ICG

US

CLO

Ltd.

,

2017-1A

,

ARR

,

144A,

FRN

,

5.291 %

,

(3-month

SOFR

+

1.432 %),

7/28/34

.

...........................

United

States

500,000

500,244

b

,h

J.P.

Morgan

Mortgage

Trust

,

2023-HE2

,

A1

,

144A,

FRN

,

5.884 %

,

(30-day

SOFR

Average

+

1.7 %),

3/20/54

.

................

United

States

196,254

197,142

b

,h

Neuberger

Berman

CLO

XVII

Ltd.

,

2014-17A

,

AR3

,

144A,

FRN

,

5.257 %

,

(3-month

SOFR

+

1.4 %),

7/22/38

.

...............

United

States

300,000

300,878

b

,h

Neuberger

Berman

Loan

Advisers

CLO

Ltd.

,

2017-25A

,

AR2

,

144A,

FRN

,

5.284 %

,

(3-month

SOFR

+

1.4 %),

7/18/38

.

.....

United

States

250,000

250,690

b

,h

Northwoods

Capital

Ltd.

,

2021-27A

,

A1R

,

144A,

FRN

,

5.062 %

,

(3-month

SOFR

+

1.18 %),

10/17/34

.

...................

United

States

380,000

380,376

h

NovaStar

Mortgage

Funding

Trust

,

2006-5

,

A2C

,

FRN

,

4.446 %

,

(1-month

SOFR

+

0.454 %),

11/25/36

.

...................

United

States

947,192

295,023

b

,h

Oaktree

CLO

Ltd.

,

2019-4A

,

ARR

,

144A,

FRN

,

5.394 %

,

(3-month

SOFR

+

1.51 %),

7/20/37

.........................................

United

States

250,000

250,801

2021-1A

,

A1R

,

144A,

FRN

,

5.255 %

,

(3-month

SOFR

+

1.35 %),

1/15/38

.........................................

United

States

250,000

250,496

b

,h

OHA

Loan

Funding

Ltd.

,

2016-1A

,

A1R2

,

144A,

FRN

,

5.344 %

,

(3-month

SOFR

+

1.46 %),

7/20/37

.

....................

United

States

427,000

428,949

b

PK

Alift

Loan

Funding

LP

,

2025-2

,

A

,

144A,

4.75 %

,

3/15/43

.

..

United

States

250,000

250,869

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Asset-Backed

#### Securities
(continued)

#### Financial

#### Services
(continued)

b

,h

PRMI

Securitization

Trust

,

2024-CMG1

,

A1

,

144A,

FRN

,

5.765 %

,

(30-day

SOFR

Average

+

1.45 %),

7/25/54

.

...............

United

States

217,348

$

217,956

h

Renaissance

Home

Equity

Loan

Trust

,

2003-4

,

A1

,

FRN

,

5.146 %

,

(1-month

SOFR

+

1.154 %),

3/25/34

.

...................

United

States

113,787

104,912

b

,h

RR

Ltd.

,

2024-29RA

,

A1R

,

144A,

FRN

,

5.295 %

,

(3-month

SOFR

+

1.39 %),

7/15/39

.

............................

United

States

250,000

250,686

b

,h

Symphony

CLO

XXIII

Ltd.

,

2020-23A

,

AR2

,

144A,

FRN

,

4.805 %

,

(3-month

SOFR

+

0.9 %),

1/15/34

.

.....................

United

States

309,482

309,654

b

,h

Towd

Point

Mortgage

Trust

,

2025-HE1

,

A1A

,

144A,

FRN

,

5.533 %

,

(30-day

SOFR

Average

+

1.35 %),

7/25/65

.

...............

United

States

103,424

103,517

b

,h

Trinitas

CLO

XVI

Ltd.

,

2021-16A

,

A1R

,

144A,

FRN

,

5.014 %

,

(3-month

SOFR

+

1.13 %),

7/20/34

.

....................

United

States

540,000

540,545

b

,h

Venture

XIX

CLO

Ltd.

,

2014-19A

,

ARR

,

144A,

FRN

,

5.426 %

,

(3-month

SOFR

+

1.522 %),

1/15/32

.

...................

United

States

87,674

87,743

h

WaMu

Asset-Backed

Certificates

Trust

,

2006-HE2

,

A3

,

FRN

,

4.406 %

,

(1-month

SOFR

+

0.414 %),

5/25/36

.

.............

United

States

434,597

344,325

b

,h

Wise

CLO

Ltd.

,

2024-2A

,

A

,

144A,

FRN

,

5.365 %

,

(3-month

SOFR

+

1.46 %),

7/15/37

.

.................................

United

States

400,000

400,700

11,489,394

a

a

a

a

a

a

#### Total

#### Asset-Backed

#### Securities

#### (Cost

#### $

#### 12,351,408

####)
.............................

#### 12,003,722

#### Commercial

#### Mortgage-Backed

#### Securities

#### 4.6%

#### Financial

#### Services

#### 4.6%
b

,h

AREIT

Trust

,

2022-CRE6

,

A

,

144A,

FRN

,

5.431 %

,

(30-day

SOFR

Average

+

1.25 %),

1/20/37

...........................

United

States

189,754

189,917

i

,j

BANK

,

2019-BN20

,

XA

,

IO,

FRN

,

0.806 %

,

9/15/62

..............

United

States

8,777,361

234,240

2020-BN30

,

XA

,

IO,

FRN

,

1.261 %

,

12/15/53

.............

United

States

6,881,413

332,540

Barclays

Commercial

Mortgage

Trust

,

2019-C3

,

B

,

4.096 %

,

5/15/52

.........................................

United

States

246,000

231,972

i

,j

BBCMS

Mortgage

Trust

,

2020-C8

,

XA

,

IO,

FRN

,

1.804 %

,

10/15/53

........................................

United

States

4,537,180

284,164

i

CD

Mortgage

Trust

,

2017-CD4

,

B

,

FRN

,

3.947 %

,

5/10/50

.....

United

States

323,000

306,941

i

CFCRE

Commercial

Mortgage

Trust

,

b

2011-C2

,

E

,

144A,

FRN

,

5.249 %

,

12/15/47

...............

United

States

230,000

217,671

2017-C8

,

B

,

FRN

,

4.199 %

,

6/15/50

....................

United

States

210,000

203,298

i

Citigroup

Commercial

Mortgage

Trust

,

2016-P6

,

A5

,

FRN

,

3.72 %

,

12/10/49

........................................

United

States

238,000

232,918

i

COMM

Mortgage

Trust

,

2013-CR13

,

C

,

FRN

,

4.944 %

,

11/10/46

.................

United

States

18,474

18,218

b

2013-CR13

,

D

,

144A,

FRN

,

4.944 %

,

11/10/46

............

United

States

280,000

158,206

2014-CR14

,

C

,

FRN

,

3.554 %

,

2/10/47

..................

United

States

52,000

50,102

2014-CR17

,

C

,

FRN

,

4.781 %

,

5/10/47

..................

United

States

459,000

424,354

2014-UBS6

,

C

,

FRN

,

4.409 %

,

12/10/47

.................

United

States

43,072

42,655

2015-LC19

,

C

,

FRN

,

4.064 %

,

2/10/48

..................

United

States

219,671

212,191

b

,i

,j

Credit

Suisse

Commercial

Mortgage

Trust

,

2006-C4

,

AX

,

IO,

144A,

FRN

,

0.877 %

,

9/15/39

............

United

States

2007-C2

,

AX

,

IO,

144A,

FRN

,

0.029 %

,

1/15/49

............

United

States

615,331

CSAIL

Commercial

Mortgage

Trust

,

i

2015-C1

,

C

,

FRN

,

3.83 %

,

4/15/50

.....................

United

States

371,000

338,660

i

2015-C2

,

B

,

FRN

,

4.208 %

,

6/15/57

....................

United

States

177,376

171,336

2016-C6

,

AS

,

3.346 %

,

1/15/49

........................

United

States

254,000

249,973

i

CSMC

Trust

,

2016-NXSR

,

AS

,

FRN

,

4.049 %

,

12/15/49

.......

United

States

267,000

261,256

b

,i

DBUBS

Mortgage

Trust

,

2011-LC3A

,

D

,

144A,

FRN

,

5.351 %

,

8/10/44

.........................................

United

States

568,458

550,320

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Commercial

#### Mortgage-Backed

#### Securities
(continued)

#### Financial

#### Services
(continued)

b

,h

FNMA

Multi-family

Connecticut

Avenue

Securities

Trust

,

2019-01

,

M10

,

144A,

FRN

,

7.547 %

,

(30-day

SOFR

Average

+

3.364 %),

10/25/49

........................................

United

States

394,855

$

401,420

b

,i

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

,

2012-

LC9

,

D

,

144A,

FRN

,

3.57 %

,

12/15/47

...................

United

States

441,000

419,963

i

JPMBB

Commercial

Mortgage

Securities

Trust

,

j

2014-C22

,

XA

,

IO,

FRN

,

0.4 %

,

9/15/47

.................

United

States

507,244

2014-C23

,

B

,

FRN

,

4.537 %

,

9/15/47

...................

United

States

188,000

182,538

j

2015-C33

,

XA

,

IO,

FRN

,

0.852 %

,

12/15/48

...............

United

States

874,656

i

,j

JPMCC

Commercial

Mortgage

Securities

Trust

,

2019-COR5

,

XA

,

IO,

FRN

,

1.435 %

,

6/13/52

...........................

United

States

7,391,612

275,964

i

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

,

2013-C10

,

B

,

FRN

,

3.953 %

,

7/15/46

...................

United

States

485,091

460,841

b

2013-C9

,

D

,

144A,

FRN

,

3.797 %

,

5/15/46

...............

United

States

274,000

251,578

2015-C22

,

C

,

FRN

,

3.97 %

,

4/15/48

....................

United

States

659,000

583,899

2015-C24

,

C

,

FRN

,

4.011 %

,

5/15/48

...................

United

States

137,531

136,937

i

Morgan

Stanley

Capital

I

Trust

,

2015-UBS8

,

B

,

FRN

,

4.315 %

,

12/15/48

........................................

United

States

203,000

195,808

b

,h

SHRN

Trust

,

2025-MF18

,

A

,

144A,

FRN

,

5.3 %

,

(1-month

SOFR

+

1.2 %),

10/15/40

...................................

United

States

320,000

320,416

i

,j

UBS

Commercial

Mortgage

Trust

,

2017-C7

,

XA

,

IO,

FRN

,

0.97 %

,

12/15/50

........................................

United

States

5,265,505

90,174

Wells

Fargo

Commercial

Mortgage

Trust

,

2015-C31

,

AS

,

4.049 %

,

11/15/48

......................

United

States

93,263

93,000

2016-BNK1

,

AS

,

2.814 %

,

8/15/49

......................

United

States

707,000

678,169

i,j

2016-LC25

,

XA

,

IO,

FRN

,

0.813 %

,

12/15/59

..............

United

States

3,609,241

19,786

2017-RC1

,

AS

,

3.844 %

,

1/15/60

.......................

United

States

182,000

178,957

2017-RC1

,

C

,

4.591 %

,

1/15/60

........................

United

States

199,000

190,090

i,j

2019-C52

,

XA

,

IO,

FRN

,

1.564 %

,

8/15/52

................

United

States

3,023,418

138,554

i

2020-C57

,

C

,

FRN

,

4.023 %

,

8/15/53

...................

United

States

167,000

152,848

i

WFRBS

Commercial

Mortgage

Trust

,

2013-C11

,

C

,

FRN

,

4.01 %

,

3/15/45

....................

United

States

295,000

284,909

j

2013-C14

,

XA

,

IO,

FRN

,

0.329 %

,

6/15/46

................

United

States

159,970

9,766,934

a

a

a

a

a

a

#### Total

#### Commercial

#### Mortgage-Backed

#### Securities

#### (Cost

#### $

#### 10,063,483

####)
..............

#### 9,766,934

#### Mortgage-Backed

#### Securities

#### 19.9%

#### Federal

#### Home

#### Loan

#### Mortgage

#### Corp.
(FHLMC)

#### Fixed

#### Rate

#### 1.0%
FHLMC

Pool,

Year

,

3.5 %,

4/01/52

.....................

United

States

861,036

800,929

FHLMC

Pool,

Year

,

%,

9/01/53

......................

United

States

1,336,409

1,379,486

2,180,415

#### Federal

#### National

#### Mortgage

#### Association
(FNMA)

#### Fixed

#### Rate

#### 14.2%
FNMA,

Year

,

1.5 %,

11/01/41

.........................

United

States

502,299

426,032

FNMA,

Year

,

3.5 %,

11/01/51

.........................

United

States

812,540

751,327

FNMA,

Year

,

%,

9/01/54

...........................

United

States

1,045,688

1,070,484

k

Uniform

Mortgage-Backed

Securities

,

%

,

TBA,

11/25/55

.....

United

States

5,000,000

4,056,081

k

Uniform

Mortgage-Backed

Securities

,

2.5 %

,

TBA,

11/25/55

....

United

States

5,000,000

4,245,895

k

Uniform

Mortgage-Backed

Securities

,

%

,

TBA,

11/25/55

.....

United

States

2,000,000

1,772,500

k

Uniform

Mortgage-Backed

Securities

,

3.5 %

,

TBA,

11/25/55

....

United

States

1,000,000

922,096

k

Uniform

Mortgage-Backed

Securities

,

%

,

TBA,

11/25/55

.....

United

States

3,910,000

3,710,363

k

Uniform

Mortgage-Backed

Securities

,

5.5 %

,

TBA,

11/25/55

....

United

States

6,000,000

6,062,717

k

Uniform

Mortgage-Backed

Securities

,

%

,

TBA,

11/25/55

.....

United

States

2,000,000

2,045,426

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Mortgage-Backed

#### Securities
(continued)

#### Federal

#### National

#### Mortgage

#### Association
(FNMA)

#### Fixed

#### Rate
(continued)

k

Uniform

Mortgage-Backed

Securities

,

6.5 %

,

TBA,

11/25/55

....

United

States

5,000,000

$

5,178,205

30,241,126

#### Government

#### National

#### Mortgage

#### Association
(GNMA)

#### Fixed

#### Rate

#### 4.7%
k

GNMA

II,

Single-family,

Year

,

%,

11/15/55

..............

United

States

1,000,000

898,750

GNMA

II,

Single-family,

Year

,

%,

2/20/48

...............

United

States

1,614,628

1,554,436

k

GNMA

II,

Single-family,

Year

,

%,

11/15/55

..............

United

States

1,000,000

945,945

k

GNMA

II,

Single-family,

Year

,

4.5 %,

11/15/55

............

United

States

3,000,000

2,928,431

k

GNMA

II,

Single-family,

Year

,

5.5 %,

11/15/55

............

United

States

2,000,000

2,016,806

GNMA

II,

Single-family,

Year

,

%,

11/20/53

..............

United

States

1,603,136

1,666,436

10,010,804

#### Total

#### Mortgage-Backed

#### Securities

#### (Cost

#### $

#### 42,069,415

####)
..........................

#### 42,432,345

#### Residential

#### Mortgage-Backed

#### Securities

#### 8.2%

#### Financial

#### Services

#### 8.2%
b

A&D

Mortgage

Trust

,

2023-NQM5

,

A1

,

144A,

7.049 %

,

11/25/68

.

United

States

623,390

632,292

h

Alternative

Loan

Trust

,

2006-OA10

,

1A1

,

FRN

,

5.069 %

,

(12-month

average

of

1-year

CMT

+

0.96 %),

8/25/46

.............................

United

States

88,822

81,968

2006-OA10

,

4A1

,

FRN

,

4.486 %

,

(1-month

SOFR

+

0.494 %),

8/25/46

.........................................

United

States

229,025

201,449

2006-OA19

,

A1

,

FRN

,

4.326 %

,

(1-month

SOFR

+

0.294 %),

2/20/47

.........................................

United

States

123,140

101,039

2006-OA7

,

1A2

,

FRN

,

5.049 %

,

(12-month

average

of

1-year

CMT

+

0.94 %),

6/25/46

.............................

United

States

164,342

164,183

b

Angel

Oak

Mortgage

Trust

,

2024-9

,

A1

,

144A,

5.138 %

,

9/25/69

.

United

States

271,798

271,529

b

,i

Arroyo

Mortgage

Trust

,

2019-3

,

A3

,

144A,

FRN

,

3.416 %

,

10/25/48

........................................

United

States

48,201

46,469

h

BankUnited

Trust

,

2005-1

,

1A1

,

FRN

,

4.706 %

,

(1-month

SOFR

+

0.714 %),

9/25/45

..................................

United

States

49,295

47,116

b

BRAVO

Residential

Funding

Trust

,

2024-NQM2

,

A1

,

144A,

6.285 %

,

2/25/64

...................................

United

States

145,450

146,711

b

,h

Chase

Home

Lending

Mortgage

Trust

,

2025-10

,

A11

,

144A,

FRN

,

5.483 %

,

(30-day

SOFR

Average

+

1.3 %),

7/25/56

....................................

United

States

100,218

100,324

2025-7

,

A11

,

144A,

FRN

,

5.583 %

,

(30-day

SOFR

Average

+

1.4 %),

5/25/56

....................................

United

States

106,545

106,917

b

,h

Chevy

Chase

Funding

LLC

,

2006-4A

,

A2

,

144A,

FRN

,

4.286 %

,

(1-month

SOFR

+

0.294 %),

11/25/47

...................

United

States

139,839

127,234

b

COLT

Mortgage

Loan

Trust

,

i

2020-2

,

A2

,

144A,

FRN

,

3.094 %

,

3/25/65

................

United

States

88,520

88,211

2023-3

,

A1

,

144A,

7.18 %

,

9/25/68

.....................

United

States

615,324

623,400

b

Cross

Mortgage

Trust

,

2024-H1

,

A1

,

144A,

6.085 %

,

12/25/68

..................

United

States

257,107

259,371

2024-H3

,

A1

,

144A,

6.272 %

,

6/25/69

...................

United

States

246,949

249,999

2024-H4

,

A1

,

144A,

6.147 %

,

7/25/69

...................

United

States

531,429

537,769

b

,i

FHLMC

Seasoned

Credit

Risk

Transfer

Trust

,

2017-2

,

M1

,

144A,

FRN

,

%

,

8/25/56

.................................

United

States

30,711

30,616

b

,h

FHLMC

STACR

REMIC

Trust

,

2021-DNA5

,

M2

,

144A,

FRN

,

5.833 %

,

(30-day

SOFR

Average

+

1.65 %),

1/25/34

.................................

United

States

51,781

51,902

2021-DNA6

,

M2

,

144A,

FRN

,

5.683 %

,

(30-day

SOFR

Average

+

1.5 %),

10/25/41

.................................

United

States

312,977

314,346

2021-DNA7

,

M2

,

144A,

FRN

,

5.983 %

,

(30-day

SOFR

Average

+

1.8 %),

11/25/41

..................................

United

States

889,000

896,988

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Residential

#### Mortgage-Backed

#### Securities
(continued)

#### Financial

#### Services
(continued)

b,h

FHLMC

STACR

REMIC

Trust,

(continued)

2022-DNA2

,

M1A

,

144A,

FRN

,

5.483 %

,

(30-day

SOFR

Average

+

1.3 %),

2/25/42

..................................

United

States

61,772

$

61,876

2022-DNA3

,

M1B

,

144A,

FRN

,

7.083 %

,

(30-day

SOFR

Average

+

2.9 %),

4/25/42

..................................

United

States

30,000

31,169

2022-DNA5

,

M1A

,

144A,

FRN

,

7.133 %

,

(30-day

SOFR

Average

+

2.95 %),

6/25/42

.................................

United

States

240,308

244,852

2022-DNA6

,

M1A

,

144A,

FRN

,

6.333 %

,

(30-day

SOFR

Average

+

2.15 %),

9/25/42

.................................

United

States

8,699

8,749

2022-DNA6

,

M1B

,

144A,

FRN

,

7.883 %

,

(30-day

SOFR

Average

+

3.7 %),

9/25/42

..................................

United

States

24,000

25,174

2022-HQA1

,

M1A

,

144A,

FRN

,

6.283 %

,

(30-day

SOFR

Average

+

2.1 %),

3/25/42

..................................

United

States

7,622

7,647

2023-DNA1

,

M1A

,

144A,

FRN

,

6.287 %

,

(30-day

SOFR

Average

+

2.1 %),

3/25/43

..................................

United

States

145,675

147,844

2023-HQA2

,

M1A

,

144A,

FRN

,

6.183 %

,

(30-day

SOFR

Average

+

%),

6/25/43

....................................

United

States

45,147

45,256

2023-HQA3

,

A1

,

144A,

FRN

,

6.033 %

,

(30-day

SOFR

Average

+

1.85 %),

11/25/43

..................................

United

States

128,597

129,898

2023-HQA3

,

M1

,

144A,

FRN

,

6.033 %

,

(30-day

SOFR

Average

+

1.85 %),

11/25/43

.................................

United

States

62,185

62,545

2024-DNA1

,

A1

,

144A,

FRN

,

5.533 %

,

(30-day

SOFR

Average

+

1.35 %),

2/25/44

...................................

United

States

145,900

146,702

2024-DNA2

,

A1

,

144A,

FRN

,

5.433 %

,

(30-day

SOFR

Average

+

1.25 %),

5/25/44

...................................

United

States

113,710

114,309

2025-DNA1

,

A1

,

144A,

FRN

,

5.133 %

,

(30-day

SOFR

Average

+

0.95 %),

1/25/45

...................................

United

States

49,375

49,447

2025-DNA3

,

M1

,

144A,

FRN

,

5.283 %

,

(30-day

SOFR

Average

+

1.1 %),

9/25/45

..................................

United

States

370,169

370,639

h

FNMA

Connecticut

Avenue

Securities

Trust

,

2016-C01

,

1M2

,

FRN

,

11.047 %

,

(30-day

SOFR

Average

+

6.864 %),

8/25/28

..................................

United

States

62,349

63,408

2016-C01

,

2M2

,

FRN

,

11.247 %

,

(30-day

SOFR

Average

+

7.064 %),

8/25/28

..................................

United

States

34,396

34,988

2016-C02

,

1M2

,

FRN

,

10.297 %

,

(30-day

SOFR

Average

+

6.114 %),

9/25/28

..................................

United

States

16,867

17,035

2016-C03

,

2M2

,

FRN

,

10.197 %

,

(30-day

SOFR

Average

+

6.014 %),

10/25/28

.................................

United

States

15,120

15,292

2017-C02

,

2M2C

,

FRN

,

7.947 %

,

(30-day

SOFR

Average

+

3.764 %),

9/25/29

..................................

United

States

64,940

65,754

2017-C06

,

2M2

,

FRN

,

7.097 %

,

(30-day

SOFR

Average

+

2.914 %),

2/25/30

..................................

United

States

87,670

89,137

2017-C06

,

2M2C

,

FRN

,

7.097 %

,

(30-day

SOFR

Average

+

2.914 %),

2/25/30

..................................

United

States

50,042

50,880

2018-C02

,

2M2

,

FRN

,

6.497 %

,

(30-day

SOFR

Average

+

2.314 %),

8/25/30

..................................

United

States

11,494

11,670

b

2021-R03

,

1M2

,

144A,

FRN

,

5.833 %

,

(30-day

SOFR

Average

+

1.65 %),

12/25/41

..................................

United

States

296,000

297,607

b

2022-R01

,

1M1

,

144A,

FRN

,

5.183 %

,

(30-day

SOFR

Average

+

%),

12/25/41

....................................

United

States

23,165

23,167

b

2022-R02

,

2M1

,

144A,

FRN

,

5.383 %

,

(30-day

SOFR

Average

+

1.2 %),

1/25/42

....................................

United

States

39,007

39,009

b

2022-R02

,

2M2

,

144A,

FRN

,

7.183 %

,

(30-day

SOFR

Average

+

%),

1/25/42

.....................................

United

States

427,000

436,667

b

2022-R03

,

1M2

,

144A,

FRN

,

7.683 %

,

(30-day

SOFR

Average

+

3.5 %),

3/25/42

....................................

United

States

127,000

131,287

b

2022-R04

,

1M2

,

144A,

FRN

,

7.283 %

,

(30-day

SOFR

Average

+

3.1 %),

3/25/42

....................................

United

States

120,000

123,424

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Residential

#### Mortgage-Backed

#### Securities
(continued)

#### Financial

#### Services
(continued)

h

FNMA

Connecticut

Avenue

Securities

Trust,

(continued)

b

2022-R09

,

2M1

,

144A,

FRN

,

6.683 %

,

(30-day

SOFR

Average

+

2.5 %),

9/25/42

....................................

United

States

53,046

$

53,753

b

2023-R01

,

1M1

,

144A,

FRN

,

6.583 %

,

(30-day

SOFR

Average

+

2.4 %),

12/25/42

...................................

United

States

41,011

41,913

b

2023-R02

,

1M1

,

144A,

FRN

,

6.483 %

,

(30-day

SOFR

Average

+

2.3 %),

1/25/43

....................................

United

States

80,864

82,571

b

2023-R06

,

1M1

,

144A,

FRN

,

5.883 %

,

(30-day

SOFR

Average

+

1.7 %),

7/25/43

....................................

United

States

37,662

37,812

b

2023-R07

,

2M1

,

144A,

FRN

,

6.133 %

,

(30-day

SOFR

Average

+

1.95 %),

9/25/43

...................................

United

States

30,617

30,825

b

2024-R02

,

1M1

,

144A,

FRN

,

5.283 %

,

(30-day

SOFR

Average

+

1.1 %),

2/25/44

....................................

United

States

6,559

6,566

b

2024-R03

,

2M1

,

144A,

FRN

,

5.333 %

,

(30-day

SOFR

Average

+

1.15 %),

3/25/44

...................................

United

States

34,154

34,164

b

2024-R04

,

1M1

,

144A,

FRN

,

5.283 %

,

(30-day

SOFR

Average

+

1.1 %),

5/25/44

....................................

United

States

57,787

57,822

b

2024-R05

,

2M1

,

144A,

FRN

,

5.183 %

,

(30-day

SOFR

Average

+

%),

7/25/44

.....................................

United

States

13,501

13,500

b

2024-R06

,

1A1

,

144A,

FRN

,

5.333 %

,

(30-day

SOFR

Average

+

1.15 %),

9/25/44

...................................

United

States

293,775

294,931

b

2024-R06

,

1M1

,

144A,

FRN

,

5.233 %

,

(30-day

SOFR

Average

+

1.05 %),

9/25/44

...................................

United

States

32,432

32,439

b

2025-R01

,

1A1

,

144A,

FRN

,

5.133 %

,

(30-day

SOFR

Average

+

0.95 %),

1/25/45

...................................

United

States

84,254

84,350

b

2025-R01

,

1M1

,

144A,

FRN

,

5.283 %

,

(30-day

SOFR

Average

+

1.1 %),

1/25/45

....................................

United

States

82,555

82,680

b

2025-R02

,

1A1

,

144A,

FRN

,

5.183 %

,

(30-day

SOFR

Average

+

%),

2/25/45

.....................................

United

States

138,359

138,693

b

2025-R02

,

1M1

,

144A,

FRN

,

5.333 %

,

(30-day

SOFR

Average

+

1.15 %),

2/25/45

...................................

United

States

347,670

348,296

b

2025-R04

,

1A1

,

144A,

FRN

,

5.183 %

,

(30-day

SOFR

Average

+

%),

5/25/45

.....................................

United

States

122,432

122,693

b

2025-R04

,

1M1

,

144A,

FRN

,

5.383 %

,

(30-day

SOFR

Average

+

1.2 %),

5/25/45

....................................

United

States

326,371

327,137

b

2025-R06

,

1A1

,

144A,

FRN

,

5.083 %

,

(30-day

SOFR

Average

+

0.9 %),

9/25/45

....................................

United

States

266,000

266,249

b

J.P.

Morgan

Mortgage

Trust

,

2024-VIS2

,

A1

,

144A,

5.853 %

,

11/25/64

.................

United

States

538,192

543,246

h

2025-2

,

A11

,

144A,

FRN

,

5.433 %

,

(30-day

SOFR

Average

+

1.25 %),

7/25/55

...................................

United

States

582,692

582,337

b

Legacy

Mortgage

Asset

Trust

,

2021-GS3

,

A1

,

144A,

5.75 %

,

7/25/61

.........................................

United

States

197,200

197,325

b

MFA

Trust

,

2023-INV2

,

A1

,

144A,

6.775 %

,

10/25/58

.................

United

States

798,877

806,398

2025-NQM3

,

A1

,

144A,

5.261 %

,

8/25/70

................

United

States

139,787

140,277

b

,i

Morgan

Stanley

Resecuritization

Trust

,

2015-R4

,

CB1

,

144A,

FRN

,

4.29 %

,

8/26/47

...............................

United

States

32,821

32,866

b

Morgan

Stanley

Residential

Mortgage

Loan

Trust

,

h

2024-3

,

AF

,

144A,

FRN

,

5.533 %

,

(30-day

SOFR

Average

+

1.35 %),

7/25/54

...................................

United

States

131,401

131,289

2024-NQM2

,

A1

,

144A,

6.386 %

,

5/25/69

................

United

States

256,081

259,139

b

,h

New

Residential

Mortgage

Loan

Trust

,

2018-4A

,

A1M

,

144A,

FRN

,

5.006 %

,

(1-month

SOFR

+

1.014 %),

1/25/48

.........

United

States

26,690

26,312

b

OBX

Trust

,

2023-NQM7

,

A1

,

144A,

6.844 %

,

4/25/63

................

United

States

284,259

288,039

h

2025-J2

,

AF

,

144A,

FRN

,

5.483 %

,

(30-day

SOFR

Average

+

1.3 %),

9/25/55

....................................

United

States

140,339

140,416

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Residential

#### Mortgage-Backed

#### Securities
(continued)

#### Financial

#### Services
(continued)

b

,i

Onity

Loan

Investment

Trust

,

2025-HB1

,

A

,

144A,

FRN

,

%

,

6/25/38

.........................................

United

States

60,245

$

58,931

b

,h

Radnor

Re

Ltd.

,

2024-1

,

M1A

,

144A,

FRN

,

6.183 %

,

(30-day

SOFR

Average

+

%),

9/25/34

........................

United

States

29,194

29,214

b

Saluda

Grade

Alternative

Mortgage

Trust

,

2024-RTL4

,

A1

,

144A,

7.5 %

,

2/25/30

....................................

United

States

812,000

816,646

b

,h

Station

Place

Securitization

Trust

,

2025-1

,

A

,

144A,

FRN

,

4.915 %

,

(1-month

SOFR

+

0.9 %),

7/23/26

.........................................

United

States

752,000

763,504

2025-3

,

A

,

144A,

FRN

,

4.915 %

,

(1-month

SOFR

+

0.9 %),

9/23/26

.........................................

United

States

760,000

762,507

2025-7

,

A

,

144A,

FRN

,

4.891 %

,

(1-month

SOFR

+

0.9 %),

11/24/26

........................................

United

States

750,000

751,822

h

Structured

Asset

Mortgage

Investments

II

Trust

,

2007-AR7

,

1A1

,

FRN

,

4.956 %

,

(1-month

SOFR

+

0.964 %),

5/25/47

.........

United

States

270,452

224,697

b

Verus

Securitization

Trust

,

2024-1

,

A1

,

144A,

5.712 %

,

1/25/69

.

United

States

472,122

475,328

b

,i

Vista

Point

Securitization

Trust

,

2020-2

,

A2

,

144A,

FRN

,

1.986 %

,

4/25/65

.........................................

United

States

33,436

32,409

h

WaMu

Mortgage

Pass-Through

Certificates

Trust

,

2005-AR1

,

A1B

,

FRN

,

4.886 %

,

(1-month

SOFR

+

0.894 %),

1/25/45

.........................................

United

States

80,825

78,558

2005-AR13

,

A1C3

,

FRN

,

5.086 %

,

(1-month

SOFR

+

1.094 %),

10/25/45

........................................

United

States

72,263

69,977

2005-AR2

,

2A1B

,

FRN

,

4.846 %

,

(1-month

SOFR

+

0.854 %),

1/25/45

.........................................

United

States

73,997

74,326

2005-AR9

,

A1C3

,

FRN

,

5.066 %

,

(1-month

SOFR

+

1.074 %),

7/25/45

.........................................

United

States

143,195

141,653

17,408,875

a

a

a

a

a

a

#### Total

#### Residential

#### Mortgage-Backed

#### Securities

#### (Cost

#### $

#### 17,209,746

####)
...............

#### 17,408,875

#### Agency

#### Commercial

#### Mortgage-Backed

#### Securities

#### 5.2%

#### Financial

#### Services

#### 5.2%
FHLMC

,

h

,

F30

,

FRN

,

5.333 %

,

(30-day

SOFR

Average

+

1.15 %),

10/25/53

........................................

United

States

217,738

219,031

j

5077

,

GI

,

IO,

3.5 %

,

2/25/51

..........................

United

States

2,866,534

536,398

j

5116

,

BI

,

IO,

%

,

1/25/50

............................

United

States

3,961,924

816,311

i

,j

FHLMC,

Multi-family

Structured

Pass-Through

Certificates

,

K098

,

X1

,

IO,

FRN

,

1.136 %

,

8/25/29

...................

United

States

2,726,223

99,838

K113

,

XAM

,

IO,

FRN

,

1.583 %

,

6/25/30

..................

United

States

2,243,000

145,158

FNMA

,

h,j

2019-42

,

SA

,

IO,

FRN

,

1.753 %

,

(30-day

SOFR

Average

+

5.936 %),

8/25/49

..................................

United

States

2,283,680

275,296

j

2021-14

,

CI

,

IO,

4.5 %

,

11/25/49

.......................

United

States

4,308,815

970,632

j

2022-13

,

CI

,

IO,

%

,

12/25/51

........................

United

States

3,989,296

641,917

j

2023-49

,

IA

,

IO,

%

,

8/25/46

.........................

United

States

361,787

46,378

h

2024-103

,

FB

,

FRN

,

5.133 %

,

(30-day

SOFR

Average

+

0.95 %),

1/25/55

.........................................

United

States

930,046

931,948

h

2024-105

,

FC

,

FRN

,

5.183 %

,

(30-day

SOFR

Average

+

%),

1/25/55

.........................................

United

States

958,472

961,678

j

GNMA

,

h

2010-171

,

SB

,

IO,

FRN

,

2.304 %

,

(1-month

SOFR

+

6.336 %),

12/16/40

........................................

United

States

279,966

34,320

2014-102

,

IG

,

IO,

3.5 %

,

3/16/41

.......................

United

States

58,351

960

2014-76

,

IO,

%

,

5/20/44

............................

United

States

170,216

35,497

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

#### a
a

#### Agency

#### Commercial

#### Mortgage-Backed

#### Securities
(continued)

#### Financial

#### Services
(continued)

j

GNMA,

(continued)

i

2014-H12

,

BI

,

IO,

FRN

,

1.555 %

,

5/20/64

................

United

States

774,644

$

27,943

i

2014-H21

,

AI

,

IO,

FRN

,

1.672 %

,

10/20/64

...............

United

States

645,703

25,011

i

2015-H25

,

AI

,

IO,

FRN

,

1.629 %

,

9/20/65

................

United

States

605,127

8,978

i

2015-H26

,

DI

,

IO,

FRN

,

2.07 %

,

10/20/65

................

United

States

460,502

22,768

i

2015-H26

,

EI

,

IO,

FRN

,

1.753 %

,

10/20/65

...............

United

States

592,756

19,711

2016-75

,

LI

,

IO,

%

,

1/20/40

.........................

United

States

302,348

42,772

i

2016-H23

,

NI

,

IO,

FRN

,

2.132 %

,

10/20/66

...............

United

States

853,129

40,236

i

2017-H02

,

BI

,

IO,

FRN

,

2.275 %

,

1/20/67

................

United

States

823,787

31,928

i

2017-H04

,

BI

,

IO,

FRN

,

2.437 %

,

2/20/67

................

United

States

870,386

39,194

i

2017-H19

,

MI

,

IO,

FRN

,

2.069 %

,

4/20/67

................

United

States

575,114

22,213

i

2020-190

,

IO,

FRN

,

1.06 %

,

11/16/62

...................

United

States

3,537,593

274,541

2021-117

,

MI

,

IO,

3.5 %

,

5/20/42

.......................

United

States

2,787,936

441,482

i

2021-17

,

IO,

FRN

,

1.053 %

,

1/16/61

....................

United

States

2,238,252

178,655

2021-182

,

TI

,

IO,

3.5 %

,

10/20/51

......................

United

States

2,622,155

500,460

i

2021-189

,

IO,

FRN

,

0.882 %

,

6/16/61

...................

United

States

4,742,565

301,522

2021-214

,

AI

,

IO,

%

,

12/20/51

.......................

United

States

2,950,136

582,648

2021-97

,

NI

,

IO,

2.5 %

,

8/20/49

........................

United

States

7,261,370

850,066

2022-160

,

IB

,

IO,

4.5 %

,

2/20/50

.......................

United

States

4,960,305

1,042,976

2024-186

,

IO,

%

,

9/20/51

...........................

United

States

3,238,371

490,145

2024-4

,

GI

,

IO,

%

,

2/20/53

..........................

United

States

1,728,851

421,168

11,079,779

a

a

a

a

a

a

#### Total

#### Agency

#### Commercial

#### Mortgage-Backed

#### Securities

#### (Cost

#### $

#### 10,607,467

####)
.......

#### 11,079,779

#### Total

#### Long

#### Term

#### Investments

#### (Cost

#### $

#### 243,569,590

####)
.............................

#### 239,981,161

#### a

#### Short

#### Term

#### Investments

#### 2.5%
a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
a

a

#### a
a

#### U.S.

#### Government

#### and

#### Agency

#### Securities

#### 0.6%
l,m

U.S.

Treasury

Bills

,

.61

%

,

1/20/26

......................

United

States

1,300,000

1,289,519

#### Total

#### U.S.

#### Government

#### and

#### Agency

#### Securities

#### (Cost

#### $

#### 1,288,971

####)
................

#### 1,289,519

#### Shares

#### Management

#### Investment

#### Companies

#### 1.9%
a,n

Putnam

Short

Term

Investment

Fund

,

Class

P

,

4.371 %

.......

United

States

4,110,047

4,110,047

#### Total

#### Management

#### Investment

#### Companies

#### (Cost

#### $

#### 4,110,047

####)
...................

#### 4,110,047

#### Total

#### Short

#### Term

#### Investments

#### (Cost

#### $

#### 5,399,018

####)
...............................

#### 5,399,566

#### a

#### Total

#### Investments

#### (Cost

#### $

#### 248,968,608

####)
115.1 #### %
................................

#### $245,380,727

#### TBA

#### Sale

#### Commitments

#### (4.7 ####)

#### %
..............................................

#### (#### 9,935,890

####)

#### Other

#### Assets,

#### less

#### Liabilities

#### (10.4 ####)

#### %
........................................

#### (22,232,830)

#### Net

#### Assets

#### 100.0%

#### .........................................................

#### $213,212,007

#### a
Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

a

a

#### Country

#### Principal

#### Amount

#### \*
a

#### Value
o

#### TBA

#### Sale

#### Commitments

#### (4.7)%

#### Mortgage-Backed

#### Securities

#### (4.7)%

#### Federal

#### National

#### Mortgage

#### Association
(FNMA)

#### Fixed

#### Rate

#### (3.7)%
Uniform

Mortgage-Backed

Securities

,

4.5 %

,

TBA,

11/25/55

...............................

United

States

(3,000,000)

$

(2,924,567)

%

,

TBA,

11/25/55

.................................

United

States

(5,000,000)

(4,975,607)

(7,900,174)

#### Government

#### National

#### Mortgage

#### Association
(GNMA)

#### Fixed

#### Rate

#### (1.0)%
GNMA

II,

Single-family,

Year

,

%

,

11/15/55

..............

United

States

(2,000,000)

(2,035,716)

#### Total

#### TBA

#### Sale

#### Commitments

#### (Proceeds

#### $

#### (#### 9,928,711

####)
.........................

#### $(9,935,890)
\*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

See

Note

(g)

regarding

investments

in

affiliated

management

investment

companies.

b

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933. 144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933. Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

October

31,

2025,

the

aggregate

value

of

these

securities

was

$93,941,686,

representing

44.1%

of

net

assets.

c

Perpetual

security

with

no

stated

maturity

date.

d

The

coupon

rate

shown

represents

the

rate

at

period

end.

e

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

See

Note

(d).

f

Principal

amount

is

stated

in

Mexican

Peso

Units.

g

Income

may

be

received

in

additional

securities

and/or

cash.

h

The

coupon

rate

shown

represents

the

rate

inclusive

of

any

caps

or

floors,

if

applicable,

in

effect

at

period

end.

i

Adjustable

rate

security

with

an

interest

rate

that

is

not

based

on

a

published

reference

index

and

spread.

The

rate

is

based

on

the

structure

of

the

agreement

and

current

market

conditions.

The

coupon

rate

shown

represents

the

rate

at

period

end.

j

Investment

in

an

interest-only

security

entitles

holders

to

receive

only

the

interest

payment

on

the

underlying

instruments.

The

principal

amount

shown

is

the

notional

amount

of

the

underlying

instruments.

k

Security

purchased

on

a

to-be-announced

(TBA)

basis.

See

Note

(d).

l

The

rate

shown

represents

the

yield

at

period

end.

m

A

portion

or

all

of

the

security

has

been

segregated

as

collateral

for

certain

derivative

contracts.

At

October

31,

2025,

the

value

of

this

security

pledged

amounted

to

$1,076,253,

representing

0.5%

net

assets.

n

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

o

Security

sold

on

a

to-be-announced

(TBA)

basis

resulting

in

a

short

position.

As

such,

the

Fund

is

not

subject

to

fees

and

expenses

associated

with

short

sale

transactions.

See

Note

(d).

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

At

October

31,

2025

,

the

Fund

had

the

following futures

contracts

outstanding.

See

Note

(e).

At

October

31,

2025

,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

1(e)

.

#### Futures

#### Contracts

#### Description

#### Type

#### Number

#### of

#### Contracts

#### Notional

#### Amount

#### \*

#### Expiration

#### Date

#### Value/

#### Unrealized

#### Appreciation
(Depreciation)

#### Interest

#### rate

#### contracts
Australia

Year

Bonds

.......................

Long

$

74,337

12/15/25

$

(67)

Australia

Year

Bonds

........................

Long

69,829

12/15/25

(352)

Canada

Year

Bonds

........................

Long

3,325,999

12/18/25

39,956

Euro-Bobl

..................................

Long

681,562

12/08/25

1,963

Euro-Bund

.................................

Long

1,342,272

12/08/25

12,564

Euro-Buxl

..................................

Long

936,920

12/08/25

28,921

Euro-Schatz

................................

Long

1,110,832

12/08/25

(226)

Japan

Year

Bonds

.........................

Short

8,827,461

12/15/25

54,938

Long

Gilt

...................................

Long

4,550,578

12/29/25

161,522

U.S.

Treasury

Year

Notes

....................

Long

3,605,500

12/19/25

13,707

U.S.

Treasury

Year

Ultra

Notes

................

Long

923,875

12/19/25

9,967

U.S.

Treasury

Year

Notes

.....................

Short

4,789,570

12/31/25

5,709

U.S.

Treasury

Year

Notes

.....................

Long

4,805,281

12/31/25

(4,536)

U.S.

Treasury

Long

Bonds

.....................

Long

1,877,000

12/19/25

51,119

U.S.

Treasury

Ultra

Bonds

......................

Long

1,697,938

12/19/25

67,949

Total

Futures

Contracts

......................................................................

$443,134

\*

As

of

period

end.

#### Forward

#### Exchange

#### Contracts

#### Currency

#### Counter-

#### party

#### a

#### Type

#### Quantity

#### Contract

#### Amount

#### \*

#### Settlement

#### Date

#### Unrealized

#### Appreciation

#### Unrealized

#### Depreciation

#### a

#### OTC

#### Forward

#### Exchange

#### Contracts
Chinese

Yuan

......

HSBK

Sell

3,500,900

492,873

11/19/25

$

866

$

—

Chinese

Yuan

......

WPAC

Buy

149,555,600

20,945,053

11/19/25

73,085

—

Chinese

Yuan

......

WPAC

Sell

73,330,700

10,269,863

11/19/25

—

(35,835)

Indonesian

Rupiah

..

GSCO

Buy

20,189,807,400

1,237,674

11/19/25

518

(24,058)

Indonesian

Rupiah

..

GSCO

Sell

20,189,807,400

1,225,379

11/19/25

12,260

(1,016)

Japanese

Yen

......

BOFA

Buy

31,341,400

214,610

11/19/25

—

(10,929)

Japanese

Yen

......

BZWS

Buy

93,793,400

641,361

11/19/25

—

(31,820)

Japanese

Yen

......

BZWS

Sell

65,882,900

453,060

11/19/25

24,903

—

Japanese

Yen

......

CITI

Buy

63,334,700

433,771

11/19/25

—

(22,174)

Japanese

Yen

......

GSCO

Buy

16,414,500

112,390

11/19/25

—

(5,716)

Japanese

Yen

......

HSBK

Buy

26,565,000

181,965

11/19/25

—

(9,325)

Japanese

Yen

......

HSBK

Sell

48,121,100

329,619

11/19/25

16,892

—

Japanese

Yen

......

JPHQ

Sell

734,318,400

5,027,850

11/19/25

255,690

—

Japanese

Yen

......

MSCO

Buy

29,592,800

202,707

11/19/25

—

(10,390)

Japanese

Yen

......

MSCO

Sell

636,780,400

4,361,856

11/19/25

223,572

—

Japanese

Yen

......

SSBT

Sell

15,470,400

105,935

11/19/25

5,397

—

Japanese

Yen

......

TDOM

Buy

35,866,900

245,610

11/19/25

—

(12,519)

Japanese

Yen

......

TDOM

Sell

37,300,500

255,427

11/19/25

13,020

—

Japanese

Yen

......

UBSW

Buy

4,651,300

31,848

11/19/25

—

(1,620)

Singapore

Dollar

....

HSBK

Buy

591,200

463,512

11/19/25

—

(8,748)

Singapore

Dollar

....

HSBK

Sell

278,700

218,506

11/19/25

4,124

—

South

Korean

Won

..

GSCO

Buy

419,556,300

305,806

11/19/25

—

(12,042)

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Forward

#### Exchange

#### Contracts
(continued)

#### Currency

#### Counter-

#### party

#### a

#### Type

#### Quantity

#### Contract

#### Amount\*

#### Settlement

#### Date

#### Unrealized

#### Appreciation

#### Unrealized

#### Depreciation

#### a

#### OTC

#### Forward

#### Exchange

#### Contracts
(continued)

South

Korean

Won

..

GSCO

Sell

419,556,300

293,255

11/19/25

$

—

$

(509)

South

Korean

Won

..

JPHQ

Buy

4,573,964,600

3,285,371

11/19/25

2,545

(85,336)

South

Korean

Won

..

JPHQ

Sell

4,573,964,600

3,242,918

11/19/25

45,149

(4,810)

Thai

Baht

.........

SSBT

Buy

5,427,800

167,933

11/19/25

—

Thai

Baht

.........

SSBT

Sell

21,991,400

680,399

11/19/25

—

(553)

British

Pound

......

HSBK

Buy

5,200,900

7,068,512

12/17/25

—

(235,721)

British

Pound

......

HSBK

Sell

3,343,900

4,544,674

12/17/25

151,555

—

Czech

Koruna

......

HSBK

Buy

7,216,000

349,402

12/17/25

—

(7,227)

Czech

Koruna

......

HSBK

Sell

2,795,900

135,379

12/17/25

2,800

—

Danish

Krone

......

MSCO

Buy

562,400

89,131

12/17/25

—

(2,072)

Danish

Krone

......

MSCO

Sell

1,366,700

216,600

12/17/25

5,036

—

Euro

.............

HSBK

Buy

16,102,100

19,032,488

12/17/25

—

(426,181)

Euro

.............

HSBK

Sell

22,999,900

27,185,605

12/17/25

608,748

—

Euro

.............

UBSW

Buy

145,500

169,331

12/17/25

—

(1,203)

Hungarian

Forint

....

BOFA

Buy

33,688,000

101,139

12/17/25

—

(1,287)

Hungarian

Forint

....

BOFA

Sell

17,449,200

52,386

12/17/25

667

—

Norwegian

Krone

...

MSCO

Sell

5,574,400

566,242

12/17/25

15,946

—

Polish

Zloty

........

MSCO

Buy

147,300

40,685

12/17/25

—

(814)

Polish

Zloty

........

MSCO

Sell

911,300

251,703

12/17/25

5,036

—

Romanian

New

Leu

.

HSBK

Buy

687,600

158,859

12/17/25

—

(3,344)

Romanian

New

Leu

.

HSBK

Sell

342,900

79,222

12/17/25

1,667

—

Swedish

Krona

.....

MSCO

Sell

6,652,900

720,470

12/17/25

18,336

—

Swiss

Franc

.......

UBSW

Buy

656,400

834,701

12/17/25

—

(14,810)

Swiss

Franc

.......

UBSW

Sell

483,300

614,581

12/17/25

10,904

—

Australian

Dollar

....

BOFA

Buy

237,900

156,284

1/21/26

—

(512)

Australian

Dollar

....

BOFA

Sell

639,600

420,172

1/21/26

1,376

—

Australian

Dollar

....

CITI

Buy

79,300

52,101

1/21/26

—

(177)

Australian

Dollar

....

GSCO

Buy

32,700

21,487

1/21/26

—

(76)

Australian

Dollar

....

JPHQ

Buy

96,900

63,677

1/21/26

—

(229)

Australian

Dollar

....

MSCO

Buy

75,100

49,348

1/21/26

—

(174)

Australian

Dollar

....

MSCO

Sell

301,100

197,851

1/21/26

698

—

Australian

Dollar

....

SSBT

Buy

282,400

185,608

1/21/26

—

(698)

Australian

Dollar

....

SSBT

Sell

1,161,900

763,660

1/21/26

2,873

—

Australian

Dollar

....

TDOM

Buy

11,500

7,558

1/21/26

—

(28)

Australian

Dollar

....

UBSW

Buy

447,100

293,833

1/21/26

—

(1,082)

Australian

Dollar

....

WPAC

Buy

298,800

196,359

1/21/26

—

(712)

Australian

Dollar

....

WPAC

Sell

197,000

129,461

1/21/26

—

Canadian

Dollar

....

BOFA

Buy

167,700

120,244

1/21/26

—

(190)

Canadian

Dollar

....

BOFA

Sell

1,869,600

1,340,542

1/21/26

2,117

—

Canadian

Dollar

....

BZWS

Sell

304,700

218,461

1/21/26

—

Canadian

Dollar

....

CITI

Buy

525,000

376,356

1/21/26

—

(514)

Canadian

Dollar

....

CITI

Sell

1,065,900

764,110

1/21/26

1,044

—

Canadian

Dollar

....

HSBK

Buy

5,369,500

3,849,049

1/21/26

—

(5,085)

Canadian

Dollar

....

JPHQ

Buy

18,900

13,549

1/21/26

—

(19)

Canadian

Dollar

....

MSCO

Sell

216,800

155,399

1/21/26

—

Canadian

Dollar

....

SSBT

Buy

161,700

115,901

1/21/26

—

(142)

Canadian

Dollar

....

SSBT

Sell

508,300

364,331

1/21/26

—

Canadian

Dollar

....

TDOM

Buy

146,400

104,942

1/21/26

—

(136)

Canadian

Dollar

....

UBSW

Buy

676,900

485,218

1/21/26

—

(633)

Israeli

New

Shekel

..

BOFA

Sell

225,800

69,416

1/21/26

—

Israeli

New

Shekel

..

SSBT

Buy

605,900

186,279

1/21/26

—

(244)

Israeli

New

Shekel

..

SSBT

Sell

217,200

66,776

1/21/26

—

Mexican

Peso

......

BOFA

Sell

3,509,400

188,734

1/21/26

1,419

—

Mexican

Peso

......

HSBK

Buy

395,400

21,257

1/21/26

—

(153)

Mexican

Peso

......

MSCO

Sell

1,995,800

107,304

1/21/26

778

—

Mexican

Peso

......

TDOM

Buy

2,680,100

144,076

1/21/26

—

(1,025)

Mexican

Peso

......

UBSW

Buy

1,767,000

95,005

1/21/26

—

(690)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

Putnam

Global

Income

Trust

Schedule

of

Investments

At

October

31,

2025,

the

Fund

had

the

following forward

premium

swap

options contracts

outstanding.

See

Note

1(e).

#### Forward

#### Exchange

#### Contracts
(continued)

#### Currency

#### Counter-

#### party

#### a

#### Type

#### Quantity

#### Contract

#### Amount\*

#### Settlement

#### Date

#### Unrealized

#### Appreciation

#### Unrealized

#### Depreciation

#### a

#### OTC

#### Forward

#### Exchange

#### Contracts
(continued)

New

Zealand

Dollar

.

BOFA

Sell

199,900

115,490

1/21/26

$

707

$

—

New

Zealand

Dollar

.

MSCO

Sell

335,300

193,751

1/21/26

1,221

—

New

Zealand

Dollar

.

SSBT

Sell

200,300

115,741

1/21/26

728

—

New

Zealand

Dollar

.

UBSW

Sell

37,300

21,554

1/21/26

—

New

Zealand

Dollar

.

WPAC

Sell

97,200

56,174

1/21/26

—

Indonesian

Rupiah

..

GSCO

Buy

13,374,158,000

800,675

2/13/26

1,333

—

Indonesian

Rupiah

..

GSCO

Sell

6,815,649,400

408,035

2/13/26

—

(679)

South

Korean

Won

..

GSCO

Buy

419,556,300

294,407

2/13/26

510

—

South

Korean

Won

..

JPHQ

Buy

2,991,339,800

2,097,934

2/13/26

4,753

—

South

Korean

Won

..

JPHQ

Sell

1,582,624,800

1,109,952

2/13/26

—

(2,515)

Total

Forward

Exchange

Contracts

...................................................

$1,520,518

$(985,772)

Net

unrealized

appreciation

(depreciation)

............................................

$534,746

\*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

#### Forward

#### Premium

#### Swap

#### Option

#### Contracts

#### Fixed

#### right

#### or

#### obligation

#### to

#### receive

#### or

#### (pay)/

#### Floating

#### rate

#### index/Maturity

#### date

#### Counter

#### par

#### t

#### y

#### Expiration

#### date/strike

#### Notional/

#### Contract

#### amount

#### \*

#### Premium

#### receivable/
(payable)

#### Unrealized

#### appreciation/
(depreciation)

#### a
3.85%/1-day

SOFR/Feb-27/(Purchased)

BNDP

2/05/26

/

3.85%

31,100,000

$

129,065

$

6,261

3.3%/1-day

SOFR/Feb-27/(Written)

BNDP

2/05/26

/

3.3%

46,650,000

(102,630)

54,872

3.725%/1-day

SOFR/Nov-36/(Purchased)

BOFA

11/23/26

/

3.725%

2,565,500

125,453

(54,602)

(4.225%)/1-day

SOFR/Nov-36/(Purchased)

BOFA

11/23/26

/

4.225%

2,565,500

131,353

(94,147)

(3.428%)/1-day

SOFR/Aug-37/(Purchased)

BOFA

8/13/27

/

3.428%

658,500

37,897

(1,582)

3.428%/1-day

SOFR/Aug-37/(Purchased)

BOFA

8/13/27

/

3.428%

658,500

37,897

(22,780)

4.2%/1-day

SOFR/Aug-60/(Purchased)

BOFA

8/26/30

/

4.2%

175,900

21,935

829

(4.2%)/1-day

SOFR/Aug-60/(Purchased)

BOFA

8/26/30

/

4.2%

175,900

21,935

(2,905)

(4%)/1-day

SOFR/Dec-30/(Purchased)

CITI

12/08/25

/

4%

5,584,100

63,100

(62,731)

(4.608%)/1-day

SOFR/May-56/(Purchased)

CITI

5/26/26

/

4.608%

729,800

26,492

(20,423)

4.33%/1-day

SOFR/May-52/(Purchased)

DBAB

5/19/32

/

4.33%

65,400

8,191

(692)

(4.33%)/1-day

SOFR/May-52/(Purchased)

DBAB

5/19/32

/

4.33%

65,400

8,191

(1,263)

2.35%/1-day

SOFR/Mar-59/(Purchased)

GSCO

3/12/29

/

2.35%

2,033,100

118,530

(82,725)

(2.495%)/6-month

AUD

BBR/Nov-46/

(Purchased)

JPHQ

11/23/26

/

2.495%

AUD

1,458,600

90,476

184,183

2.495%/6-month

AUD

BBR/Nov-46/

(Purchased)

JPHQ

11/23/26

/

2.495%

AUD

1,458,600

90,476

(87,378)

2.452%/6-month

EURIBOR/Feb-48/

(Purchased)

JPHQ

1/31/28

/

2.452%

EUR

1,131,300

88,330

(54,470)

(2.452%)/6-month

EURIBOR/Feb-48/

(Purchased)

JPHQ

1/31/28

/

2.452%

EUR

1,131,300

88,330

53,927

(4.201%)/6-month

EURIBOR/Apr-39/

(Purchased)

JPHQ

4/11/29

/

4.201%

EUR

1,958,200

48,952

(18,500)

1.201%/6-month

EURIBOR/Apr-39/

(Purchased)

JPHQ

4/11/29

/

1.201%

EUR

1,958,200

38,868

(28,969)

(1.445%)/6-month

AUD

BBR/Mar-40/

(Purchased)

JPHQ

3/27/30

/

1.445%

AUD

261,200

9,989

31,841

1.445%/6-month

AUD

BBR/Mar-40/

(Purchased)

JPHQ

3/27/30

/

1.445%

AUD

261,200

9,989

(8,292)

4.01%/1-day

SOFR/Mar-52/(Purchased)

MCM

3/29/32

/

4.01%

117,800

14,124

(3,042)

(4.01%)/1-day

SOFR/Mar-52/(Purchased)

MCM

3/29/32

/

4.01%

117,800

14,124

(71)

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

At

October

31,

2025

,

the

Fund

had

the

following credit

default

swap

contracts outstanding.

See

Note

(e).

#### Forward

#### Premium

#### Swap

#### Option

#### Contracts
(continued)

#### Fixed

#### right

#### or

#### obligation

#### to

#### receive

#### or

#### (pay)/

#### Floating

#### rate

#### index/Maturity

#### date

#### Counter

#### party

#### Expiration

#### date/strike

#### Notional/

#### Contract

#### amount

#### \*

#### Premium

#### receivable/
(payable)

#### Unrealized

#### appreciation/
(depreciation)

#### a
(2.952%)/6-month

EURIBOR/Jun-49/

(Purchased)

MSCO

6/18/29

/

2.952%

EUR

1,685,000

$

134,324

$

24,634

(4.825%)/1-day

SOFR/May-57/(Purchased)

NATW

4/30/27

/

4.825%

1,008,800

36,518

(14,312)

(2%)/6-month

AUD

BBR/Sep-46/(Purchased)

UBSW

9/10/36

/

2%

AUD

975,900

51,763

66,545

2%/6-month

AUD

BBR/Sep-46/(Purchased)

UBSW

9/10/36

/

2%

AUD

975,900

51,763

(32,084)

(2.7%)/6-month

AUD

BBR/Apr-47/(Purchased)

UBSW

4/01/37

/

2.7%

AUD

1,140,000

69,163

46,120

2.7%/6-month

AUD

BBR/Apr-47/(Purchased)

UBSW

4/01/37

/

2.7%

AUD

1,140,000

69,164

(39,920)

#### Unrealized

#### appreciation

#### 469,212

#### Unrealized
(depreciation)

#### (630,888)

#### Total

#### $(161,676)
\*

In

U.S.

dollars

unless

otherwise

indicated.

#### Credit

#### Default

#### Swap

#### Contracts

#### Description

#### Periodic

#### Payment

#### Rate

#### Received
(Paid)

#### Payment

#### Frequency

#### Counter-

#### party

#### Maturity

#### Date

#### Notional

#### Amount

#### a

#### Value

#### Upfront

#### Payments
(Receipts)

#### Unrealized

#### Appreciation
(Depreciation)

#### Rating

#### b

#### OTC

#### Swap

#### Contracts

#### to

#### Buy

#### Protection

#### c

#### Traded

#### Index
CMBX.NA.BBB-.7

(3.00)%

Monthly

MLCO

1/17/47

16,000

$

919

$

1,311

$

(392)

#### Contracts

#### to

#### Sell

#### Protection

#### c,d

#### Traded

#### Index
CMBX.NA.BBB-.7

3.00%

Monthly

JPHQ

1/17/47

16,000

(919)

(3,756)

2,837

Investment

Grade

Total

OTC

Swap

Contracts

..............................................

$—

$(2,445)

$2,445

Total

Credit

Default

Swap

Contracts

....................................

$—

$

(2,445)

$2,445

a

In

U.S.

dollars

unless

otherwise

indicated.

For

contracts

to

sell

protection,

the

notional

amount

is

equal

to

the

maximum

potential

amount

of

the

future

payments

and

no

recourse

provisions

have

been

entered

into

in

association

with

the

contracts.

b

Based

on

Standard

and

Poor's

(S&P)

Rating

for

single

name

swaps

and

internal

ratings

for

index

swaps.

Internal

ratings

based

on

mapping

into

equivalent

ratings

from

external

vendors.

c

Performance

triggers

for

settlement

of

contract

include

default,

bankruptcy

or

restructuring

for

single

name

swaps,

and

failure

to

pay

or

bankruptcy

of

the

underlying

securities

for

traded

index

swaps.

d

The

fund

enters

contracts

to

sell

protection

to

create

a

long

credit

position.

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

Putnam

Global

Income

Trust

Schedule

of

Investments

At

October

31,

2025

,

the

Fund

had

the

following

interest

rate

swap

contracts

outstanding.

See

Note

(e).

#### Interest

#### Rate

#### Swap

#### Contracts

#### Description

#### Payment

#### Frequency

#### Maturity

#### Date

#### Notional

#### Amount

#### \*

#### Value

#### Upfront

#### Payments
(Receipts)

#### Unrealized

#### Appreciation
(Depreciation)

aa

#### aa

#### Centrally

#### Cleared

#### Swap

#### Contracts
Receive

Floating

1-day

SOFR

..............

Annual

Pay

Fixed

3.58%

....

Annual

9/17/27

25,621,000

$

(57,296)

$

(36,213)

$

(21,083)

Receive

Floating

3-month

AUD

BBR

...........

Quarterly

Pay

Fixed

3.23%

....

Quarterly

9/17/27

2,295,000

AUD

8,339

1,922

6,417

Receive

Floating

1-day

SOFR

..............

Annual

Pay

Fixed

3.13%

....

Annual

12/17/27

2,167,000

8,726

7,757

969

Receive

Fixed

3.28%

..

Quarterly

Pay

Floating

3-month

AUD

BBR

.........

Quarterly

12/17/27

1,981,000

AUD

(6,098)

(6,363)

Receive

Fixed

3.63%

..

Annual

Pay

Floating

1-day

SONIA

...........

Annual

12/17/27

1,759,000

GBP

5,659

(1,858)

7,517

Receive

Floating

6-month

EURIBOR

...........

Semi-Annual

Pay

Fixed

2.08%

....

Annual

12/17/27

2,341,000

EUR

1,359

2,568

(1,209)

Receive

Fixed

1.65%

..

Quarterly

Pay

Floating

1-week

CNY-Fixing

Repo

Rate

Quarterly

9/16/30

192,710,000

CNY

131,350

(10,945)

142,295

Receive

Floating

1-day

SOFR

..............

Annual

Pay

Fixed

3.63%

....

Annual

9/17/30

24,397,000

(240,484)

(78,781)

(161,703)

Receive

Fixed

2.18%

..

Annual

Pay

Floating

6-month

EURIBOR

.........

Semi-Annual

9/17/30

1,355,000

EUR

(9,966)

(3,872)

(6,094)

Receive

Floating

6-month

AUD

BBR

...........

Semi-Annual

Pay

Fixed

3.73%

....

Semi-Annual

9/17/30

2,352,000

AUD

13,865

(8,424)

22,289

Receive

Fixed

4.166%

.

Semi-Annual

Pay

Floating

6-month

AUD

BBR

.........

Semi-Annual

7/15/35

4,965,000

AUD

(35,579)

—

(35,579)

Receive

Fixed

3.833%

.

Annual

Pay

Floating

1-day

SOFR

............

Annual

9/10/35

1,448,800

19,208

—

19,208

Receive

Fixed

2.53%

..

Annual

Pay

Floating

6-month

EURIBOR

.........

Semi-Annual

9/17/35

7,376,000

EUR

(70,828)

(15,426)

(55,402)

Receive

Fixed

3.88%

..

Annual

Pay

Floating

1-day

SOFR

............

Annual

9/17/35

2,162,000

37,481

60,212

(22,731)

Putnam

Global

Income

Trust

Schedule

of

Investments

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Interest

#### Rate

#### Swap

#### Contracts
(continued)

#### Description

#### Payment

#### Frequency

#### Maturity

#### Date

#### Notional

#### Amount\*

#### Value

#### Upfront

#### Payments
(Receipts)

#### Unrealized

#### Appreciation
(Depreciation)

aa

#### aa

#### Centrally

#### Cleared

#### Swap

#### Contracts
(continued)

Receive

Fixed

4.23%

..

Semi-Annual

Pay

Floating

6-month

AUD

BBR

.........

Semi-Annual

9/17/35

773,000

AUD

$

(3,329)

$

2,729

$

(6,058)

Receive

Fixed

0.45%

..

Annual

Pay

Floating

1-day

SARON

..........

Annual

12/17/35

1,612,000

CHF

4,663

(3,618)

8,281

Receive

Floating

1-day

REPO_CORRA

.......

Semi-Annual

Pay

Fixed

2.93%

....

Semi-Annual

12/17/35

2,284,000

CAD

(9,320)

(5,975)

(3,345)

Receive

Floating

1-day

SOFR

..............

Annual

Pay

Fixed

3.53%

....

Annual

12/17/35

610,000

7,295

4,626

2,669

Receive

Fixed

2.63%

..

Annual

Pay

Floating

6-month

EURIBOR

.........

Semi-Annual

12/17/35

1,824,000

EUR

2,995

3,166

(171)

Receive

Fixed

2.65%

..

Quarterly

Pay

Floating

3-month

CD_KSDA

.........

Quarterly

12/17/35

3,919,000,000

KRW

(65,644)

6,584

(72,228)

Receive

Floating

3-month

AUD

BBR

...........

Quarterly

Pay

Fixed

3.9%

.....

Semi-Annual

12/17/35

2,164,000

NZD

(22,326)

(3,332)

(18,994)

Receive

Floating

3-month

STIBOR

............

Quarterly

Pay

Fixed

2.6%

.....

Annual

12/17/35

17,077,000

SEK

16,243

5,891

10,352

Receive

Fixed

4.08%

..

Annual

Pay

Floating

1-day

SONIA

...........

Annual

12/17/35

2,716,000

GBP

44,125

(1,708)

45,833

Receive

Floating

6-month

AUD

BBR

...........

Semi-Annual

Pay

Fixed

4.18%

....

Semi-Annual

12/17/35

1,101,000

AUD

9,997

7,388

2,609

Receive

Floating

6-month

NIBOR

.............

Semi-Annual

Pay

Fixed

3.85%

....

Annual

12/17/35

21,002,000

NOK

24,543

15,077

9,466

Receive

Floating

6-month

AUD

BBR

...........

Semi-Annual

Pay

Fixed

4.377%

...

Semi-Annual

7/02/45

93,000

AUD

1,889

—

1,889

Receive

Fixed

2.58%

..

Annual

Pay

Floating

6-month

EURIBOR

.........

Semi-Annual

9/17/55

541,000

EUR

(39,457)

(7,158)

(32,299)

Receive

Fixed

3.18%

..

Semi-Annual

Pay

Floating

1-day

REPO_CORRA

.....

Semi-Annual

9/17/55

868,000

CAD

(343)

(980)

637

Receive

Fixed

4.03%

..

Annual

Pay

Floating

1-day

SOFR

............

Annual

9/17/55

946,000

13,103

1,181

11,922

Receive

Fixed

4.48%

..

Semi-Annual

Pay

Floating

6-month

AUD

BBR

.........

Semi-Annual

9/17/55

808,000

AUD

(10,254)

3,922

(14,176)

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

Putnam

Global

Income

Trust

Schedule

of

Investments

#### Interest

#### Rate

#### Swap

#### Contracts
(continued)

#### Description

#### Payment

#### Frequency

#### Maturity

#### Date

#### Notional

#### Amount\*

#### Value

#### Upfront

#### Payments
(Receipts)

#### Unrealized

#### Appreciation
(Depreciation)

aa

#### aa

#### Centrally

#### Cleared

#### Swap

#### Contracts
(continued)

Receive

Fixed

4.58%

..

Annual

Pay

Floating

1-day

SONIA

...........

Annual

9/17/55

372,000

GBP

$

16,015

$

3,188

$

12,827

Total

Interest

Rate

Swap

Contracts

.................................

$(204,069)

$

(51,814)

$(152,255)

\*

In

U.S.

dollars

unless

otherwise

indicated.

See

Note

regarding

other

derivative

information.

See

A

bbreviations

on

.

Putnam

Global

Income

Trust

Financial

Statements

Statement

of

Assets

and

Liabilities

October

31,

2025

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Putnam

#### Global

#### Income

#### Trust
Assets:

Investments

in

securities:

Cost

-

Unaffiliated

issuers

...................................................................

$239,456,837

Cost

-

Non-controlled

affiliates

(Note

g)

........................................................

9,511,771

Value

-

Unaffiliated

issuers

..................................................................

$235,822,351

Value

-

Non-controlled

affiliates

(Note

g)

.......................................................

9,558,376

Cash

....................................................................................

579,219

Foreign

currency,

at

value

(cost

$74,332)

.........................................................

65,268

Receivables:

Investment

securities

sold

...................................................................

211,921

Receivable

for

sales

of

TBA

securities

(Note

d)

..................................................

9,928,711

Capital

shares

sold

........................................................................

222,310

Dividends

and

interest

.....................................................................

1,905,765

Deposits

with

brokers

for:

Centrally

cleared

swap

contracts

............................................................

942,269

Variation

margin

on

centrally

cleared

swap

contracts

...............................................

22,532

OTC

swap

contracts

(upfront

payments)

..........................................................

1,311

Unrealized

appreciation

on

OTC

forward

exchange

contracts

..........................................

1,520,518

Unrealized

appreciation

on

forward

premium

swap

option

contracts

.....................................

469,212

Unrealized

appreciation

on

OTC

swap

contracts

....................................................

2,837

Prepaid

expenses

..........................................................................

95,859

Total

assets

..........................................................................

261,348,459

Liabilities:

Payables:

Investment

securities

purchased

..............................................................

868,032

Payable

for

purchases

of

TBA

securities

(Note

d)

................................................

34,710,291

Capital

shares

redeemed

...................................................................

112,718

Management

fees

.........................................................................

48,549

Administrative

fees

........................................................................

622

Distribution

fees

..........................................................................

16,612

Transfer

agent

fees

........................................................................

76,686

Trustees'

fees

and

expenses

.................................................................

76,203

Variation

margin

on

futures

contracts

...........................................................

8,554

Deposits

from

brokers

for:

OTC

derivative

contracts

..................................................................

490,000

OTC

swap

contracts

(upfront

receipts)

...........................................................

3,756

Unrealized

depreciation

on

OTC

swap

contracts

....................................................

Unrealized

depreciation

on

OTC

forward

exchange

contracts

..........................................

985,772

Unrealized

depreciation

on

forward

premium

swap

option

contracts

.....................................

630,888

TBA

sale

commitments,

at

value

(proceeds

$9,928,711)

(Note

1d)

......................................

9,935,890

Accrued

expenses

and

other

liabilities

...........................................................

171,487

Total

liabilities

.........................................................................

48,136,452

Net

assets,

at

value

.................................................................

$213,212,007

Net

assets

consist

of:

Paid-in

capital

.............................................................................

$248,883,596

Total

distributable

earnings

(losses)

.............................................................

(35,671,589)

Net

assets,

at

value

.................................................................

$213,212,007

Putnam

Global

Income

Trust

Financial

Statements

Statement

of

Assets

and

Liabilities

(continued)

October

31,

2025

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

#### Putnam

#### Global

#### Income

#### Trust

#### Class

#### A:
Net

assets,

at

value

.......................................................................

$68,938,778

Shares

outstanding

........................................................................

6,823,592

Net

asset

value

per

share

a,b

..................................................................

$10.10

Maximum

offering

price

per

share

(net

asset

value

per

share

÷

96.00%)

b

................................

$10.52

#### Class

#### C:
Net

assets,

at

value

.......................................................................

$1,525,327

Shares

outstanding

........................................................................

151,798

Net

asset

value

and

maximum

offering

price

per

share

a,b

............................................

$10.05

#### Class

#### R:
Net

assets,

at

value

.......................................................................

$1,053,296

Shares

outstanding

........................................................................

104,333

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$10.10

#### Class

#### R5:
Net

assets,

at

value

.......................................................................

$54,617

Shares

outstanding

........................................................................

5,408

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$10.10

#### Class

#### R6:
Net

assets,

at

value

.......................................................................

$14,495,523

Shares

outstanding

........................................................................

1,435,944

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$10.09

#### Class

#### Y:
Net

assets,

at

value

.......................................................................

$127,144,466

Shares

outstanding

........................................................................

12,591,153

Net

asset

value

and

maximum

offering

price

per

share

b

.............................................

$10.10

a

Redemption

price

is

equal

to

net

asset

value

less

contingent

deferred

sales

charges,

if

applicable.

b

Net

asset

value

per

share

may

not

recalculate

due

to

rounding.

Putnam

Global

Income

Trust

Financial

Statements

Statement

of

Operations

for

the

year

ended

October

31,

2025

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Putnam

#### Global

#### Income

#### Trust
Investment

income:

Dividends:

Non-controlled

affiliates

(Note

g)

.............................................................

$526,132

Interest:

(net

of

foreign

taxes

of

$48,742)

Unaffiliated

issuers

........................................................................

9,134,888

Total

investment

income

...................................................................

9,661,020

Expenses:

Management

fees

(Note

a)

...................................................................

1,121,376

Administrative

fees

(Note

b)

..................................................................

3,921

Distribution

fees:

(Note

3c)

&nbsp;&nbsp;&nbsp;&nbsp;Class

A

................................................................................

182,286

&nbsp;&nbsp;&nbsp;&nbsp;Class

C

................................................................................

17,845

&nbsp;&nbsp;&nbsp;&nbsp;Class

R

................................................................................

5,698

Transfer

agent

fees:

(Note

3e)

&nbsp;&nbsp;&nbsp;&nbsp;Class

A

................................................................................

165,867

&nbsp;&nbsp;&nbsp;&nbsp;Class

C

................................................................................

4,082

&nbsp;&nbsp;&nbsp;&nbsp;Class

R

................................................................................

2,606

&nbsp;&nbsp;&nbsp;&nbsp;Class

R5

...............................................................................

&nbsp;&nbsp;&nbsp;&nbsp;Class

R6

...............................................................................

6,852

&nbsp;&nbsp;&nbsp;&nbsp;Class

Y

................................................................................

284,512

Custodian

fees

(Note

4)

......................................................................

37,570

Reports

to

shareholders

fees

..................................................................

44,818

Registration

and

filing

fees

....................................................................

93,638

Professional

fees

...........................................................................

150,650

Trustees'

fees

and

expenses

(Not

e

3f)

...........................................................

8,145

Other

....................................................................................

6,556

Total

expenses

.........................................................................

2,136,490

Expense

reductions

(Note

4)

...............................................................

(9,959)

Expenses

waived/paid

by

affiliates

(Note

g

and

h)

..............................................

(545,069)

Net

expenses

.........................................................................

1,581,462

Net

investment

income

................................................................

8,079,558

Putnam

Global

Income

Trust

Financial

Statements

Statement

of

Operations

(continued)

for

the

year

ended

October

31,

2025

franklintempleton.com

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

Annual

Report

#### Putnam

#### Global

#### Income

#### Trust
Realized

and

unrealized

gains

(losses):

Net

realized

gain

(loss)

from:

Investments:

Unaffiliated

issuers

......................................................................

(942,197)

Foreign

currency

transactions

................................................................

46,733

Forward

exchange

contracts

.................................................................

(74,750)

Forward

premium

swap

option

contracts

........................................................

99,438

Futures

contracts

.........................................................................

(457,212)

TBA

sale

commitments

.....................................................................

124,707

Swap

contracts

...........................................................................

282,368

Net

realized

gain

(loss)

..................................................................

(920,913)

Net

change

in

unrealized

appreciation

(depreciation)

on:

Investments:

Unaffiliated

issuers

......................................................................

4,361,054

Non-controlled

affiliates

(Note

g)

...........................................................

46,605

Translation

of

other

assets

and

liabilities

denominated

in

foreign

currencies

..............................

(11,844)

Forward

exchange

contracts

.................................................................

(131,076)

Forward

premium

swap

option

contracts

........................................................

(165,926)

Futures

contracts

.........................................................................

930,452

TBA

sale

commitments

.....................................................................

(233,446)

Swap

contracts

...........................................................................

(690,232)

Net

change

in

unrealized

appreciation

(depreciation)

............................................

4,105,587

Net

realized

and

unrealized

gain

(loss)

............................................................

3,184,674

Net

increase

(decrease)

in

net

assets

resulting

from

operations

..........................................

$11,264,232

Putnam

Global

Income

Trust

Financial

Statements

Statements

of

Changes

in

Net

Assets

franklintempleton.com

Annual

Report

The

accompanying

notes

are

an

integral

part

of

these

financial

statements.

#### Putnam

#### Global

#### Income

#### Trust

#### Year

#### Ended

#### October

#### 31,

#### 2025

#### Year

#### Ended

#### October

#### 31,

#### 2024
Increase

(decrease)

in

net

assets:

Operations:

Net

investment

income

.................................................

$8,079,558

$7,511,726

Net

realized

gain

(loss)

.................................................

(920,913)

(613,929)

Net

change

in

unrealized

appreciation

(depreciation)

...........................

4,105,587

11,201,596

Net

increase

(decrease)

in

net

assets

resulting

from

operations

................

11,264,232

18,099,393

Distributions

to

shareholders:

Class

A

.............................................................

(3,715,315)

(2,174,749)

Class

B

.............................................................

—

(401) Class

C

.............................................................

(79,298)

(39,267)

Class

R

.............................................................

(56,421)

(32,216)

Class

R5

............................................................

(2,989)

(1,592)

Class

R6

............................................................

(769,956)

(644,452)

Class

Y

.............................................................

(6,677,582)

(2,940,632)

Total

distributions

to

shareholders

..........................................

(11,301,561)

(5,833,309)

Capital

share

transactions:

(Note

2)

Class

A

.............................................................

(6,759,197)

(7,645,784)

Class

B

.............................................................

—

(64,258)

Class

C

.............................................................

(407,490)

266,014

Class

R

.............................................................

(165,742)

(111,688)

Class

R5

............................................................

3,880

(10,894)

Class

R6

............................................................

(2,442,191)

(6,832,480)

Class

Y

.............................................................

7,355,270

58,150,227

Total

capital

share

transactions

............................................

(2,415,470)

43,751,137

Net

increase

(decrease)

in

net

assets

...................................

(2,452,799)

56,017,221

Net

assets:

Beginning

of

year

.......................................................

215,664,806

159,647,585

End

of

year

...........................................................

$213,212,007

$215,664,806

Putnam

Global

Income

Trust

franklintempleton.com

Annual

Report

Notes

to

Financial

Statements

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
Putnam

Global

Income

Trust (Fund)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

an

open-end

management

investment

company.

The Fund

follows

the

accounting

and

reporting

guidance

in

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and

applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946. The

Fund

offers six

classes

of

shares:

Class

A,

Class

C,

Class

R,

Class

R5,

Class

R6

and

Class

Y. Class

C

shares

automatically

convert

to

Class

A

shares

on

a

monthly

basis,

after

they

have

been

held

for

years.

Each

class

of

shares

may

differ

by

its

initial

sales

load,

contingent

deferred

sales

charges,

voting

rights

on

matters

affecting

a

single

class,

its

exchange

privilege

and

fees

due

to

differing

arrangements

for

distribution

and

transfer

agent

fees.

Effective

September

5,

2024,

all

Class

B

shares

were

converted

to

Class

A. The

following

summarizes

the

Fund

's

significant

accounting

policies.

a. #### Financial

#### Instrument

#### Valuation
The

Fund's

investments

in

financial

instruments

are

carried

at

fair

value

daily.

Fair

value

is

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

on

the

measurement

date.

The

Fund

calculates

the

net

asset

value

(NAV)

per

share

each business

day as

of

p.m.

Eastern

time

or

the

regularly

scheduled

close

of

the

New

York

Stock

Exchange

(NYSE),

whichever

is

earlier.

Under

compliance

policies

and

procedures

approved

by

the Fund's

Board

of

Trustees

(the

Board),

the

Board

has

designated

the

Fund's

investment

manager

as

the

valuation

designee

and

has

responsibility

for

oversight

of

valuation.

The

investment

manager

is

assisted

by

the

Fund's

administrator

in

performing

this

responsibility,

including

leading

the

cross-

functional

Valuation

Committee

(VC).

The

Fund

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value.

Equity

securities,

exchange

traded

funds,

and

derivative

financial

instruments

listed

on

an

exchange

or

on

the

NASDAQ

National

Market

System

are

valued

at

the

last

quoted

sale

price

or

the

official

closing

price

of

the

day,

respectively.

Over-the-counter

(OTC)

securities

are

valued

within

the

range

of

the

most

recent

quoted

bid

and

ask

prices.

Securities

that

trade

in

multiple

markets

or

on

multiple

exchanges

are

valued

according

to

the

broadest

and

most

representative

market.

Certain

equity

securities

are

valued

based

upon

fundamental

characteristics

or

relationships

to

similar

securities.

Debt

securities

generally

trade

in

the OTC

market

rather

than

on

a

securities

exchange.

The

Fund's

pricing

services

use

multiple

valuation

techniques

to

determine

fair

value.

In

instances

where

sufficient

market

activity

exists,

the

pricing

services

may

utilize

a

market-based

approach

through

which

quotes

from

market

makers

are

used

to

determine

fair

value.

In

instances

where

sufficient

market

activity

may

not

exist

or

is

limited,

the

pricing

services

also

utilize

proprietary

valuation

models

which

may

consider

market

characteristics

such

as

benchmark

yield

curves,

credit

spreads,

estimated

default

rates,

anticipated

market

interest

rate

volatility,

coupon

rates,

anticipated

timing

of

principal

repayments,

underlying

collateral,

and

other

unique

security

features

in

order

to

estimate

the

relevant

cash

flows,

which

are

then

discounted

to

calculate

the

fair

value.

Securities

denominated

in

a

foreign

currency

are

converted

into

their

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

p.m.

Eastern

time

on

the

date

that

the

values

of

the

foreign

debt

securities

are

determined.

Investments

in open-end mutual

funds

are

valued

at

the

closing

NAV.

Certain

derivative

financial

instruments

are

centrally

cleared

or

trade

in

the

OTC

market.

The

Fund's

pricing

services

use

various

techniques

including

industry

standard

option

pricing

models

and

proprietary

discounted

cash

flow

models

to

determine

the

fair

value

of

those

instruments.

The

Fund's

net

benefit

or

obligation

under

the

derivative

contract,

as

measured

by

the

fair

value

of

the

contract,

is

included

in

net

assets.

The

Fund

has

procedures

to

determine

the

fair

value

of

financial

instruments

for

which

market

prices

are

not

reliable

or

readily

available.

Under

these

procedures,

the Fund

primarily

employs

a

market-based

approach

which

may

use

related

or

comparable

assets

or

liabilities,

recent

transactions,

market

multiples,

and

other

relevant

information

for

the

investment

to

determine

the

fair

value

of

the

investment.

An

income-based

valuation

approach

may

also

be

used

in

which

the

anticipated

future

cash

flows

of

the

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

investment

are

discounted

to

calculate

fair

value.

Discounts

may

also

be

applied

due

to

the

nature

or

duration

of

any

restrictions

on

the

disposition

of

the

investments.

Due

to

the

inherent

uncertainty

of

valuations

of

such

investments,

the

fair

values

may

differ

significantly

from

the

values

that

would

have

been

used

had

an

active

market

existed.

b. #### Foreign

#### Currency

#### Translation
Portfolio

securities

and

other

assets

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

based

on

the

exchange

rate

of

such

currencies

against

U.S.

dollars

on

the

date

of

valuation.

The

Fund

may

enter

into

foreign

currency

exchange

contracts

to

facilitate

transactions

denominated

in

a

foreign

currency.

Purchases

and

sales

of

securities,

income

and

expense

items

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

exchange

rate

in

effect

on

the

transaction

date.

Portfolio

securities

and

assets

and

liabilities

denominated

in

foreign

currencies

contain

risks

that

those

currencies

will

decline

in

value

relative

to

the

U.S.

dollar.

Occasionally,

events

may

impact

the

availability

or

reliability

of

foreign

exchange

rates

used

to

convert

the

U.S.

dollar

equivalent

value.

If

such

an

event

occurs,

the

foreign

exchange

rate

will

be

valued

at

fair

value

using

procedures

established

and

approved

by

the

Board.

The

Fund

does

not

separately

report

the

effect

of

changes

in

foreign

exchange

rates

from

changes

in

market

prices

on

securities

held.

Such

changes

are

included

in

net

realized

and

unrealized

gain

or

loss

from

investments

in

the

Statement of

Operations.

Realized

foreign

exchange

gains

or

losses

arise

from

sales

of

foreign

currencies,

currency

gains

or

losses

realized

between

the

trade

and

settlement

dates

on

securities

transactions

and

the

difference

between

the

recorded

amounts

of

dividends,

interest,

and

foreign

withholding

taxes

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

foreign

exchange

rates

on

foreign

denominated

assets

and

liabilities

other

than

investments

in

securities

held

at

the

end

of

the

reporting

period.

c. #### Stripped

#### Securities
The

Fund

may

invest

in

stripped

securities

which

represent

a

participation

in

securities

that

may

be

structured

in

classes

with

rights

to

receive

different

portions

of

the

interest

and

principal.

Interest-only

securities

receive

all

of

the

interest

and

principal-only

securities

receive

all

of

the

principal.

If

the

interest

only

securities

experience

greater

than

anticipated

prepayments

of

principal,

the

Fund

may

fail

to

recoup

fully

its

initial

investment

in

these

securities.

Conversely,

principal-

only

securities

increase

in

value

if

prepayments

are

greater

than

anticipated

and

decline

if

prepayments

are

slower

than

anticipated.

The

fair

value

of

these

securities

is

highly

sensitive

to

changes

in

interest

rates.

d. #### Purchased

#### on

#### a

#### When-Issued,

#### Forward Commitment or

#### Delayed

#### Delivery

#### Basis

#### and

#### TBA

#### Basis
The

Fund

may

purchase

securities

on

a when-issued,

forward

commitment

or

delayed

delivery

and to-be-

announced

(TBA)

basis,

with

payment

and

delivery

scheduled

for

a

future

date.

These

transactions

are

subject

to

market

fluctuations

and

are

subject

to

the

risk

that

the

value

at

delivery

may

be

more

or

less

than

the

trade

date

purchase

price.

Although

the

Fund

will

generally

purchase

these

securities

with

the

intention

of

holding

the

securities, it

may

sell

the

securities

before

the

settlement

date.

The

Fund

may

also

enter

into

TBA

sale

commitments

to

hedge

its

portfolio

positions,

to

sell

mortgage-backed

securities

it

owns

under

delayed

delivery

arrangements

or

to

take

a

short

position

in

mortgage-backed

securities.

Proceeds

of

TBA

sale

commitments

are

not

received

until

the

contractual

settlement

date.

During

the

time

a

TBA

sale

commitment

is

outstanding,

either

equivalent

deliverable

securities

or

an

offsetting

TBA

purchase

commitment

deliverable

on

or

before

the

sale

commitment

date

are

held

as

"cover"

for

the

transaction,

or

other

liquid

assets

in

an

amount

equal

to

the

notional

value

of

the

TBA

sale

commitment

are

segregated.

If

the

TBA

sale

commitment

is

closed

through

the

acquisition

of

an

offsetting

TBA

purchase

commitment,

the

Fund

realizes

a

gain

or

loss.

If

the

Fund

delivers

securities

under

the

commitment,

the

Fund

realizes

a

gain

or

a

loss

from

the

sale

of

the

securities

based

upon

the

unit

price

established

at

the

date

the

commitment

was

entered

into.

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

a. #### Financial

#### Instrument

#### Valuation
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

TBA

commitments,

which

are

accounted

for

as

purchase

and

sale

transactions,

may

be

considered

securities

themselves,

and

involve

a

risk

of

loss

due

to

changes

in

the

value

of

the

security

prior

to

the

settlement

date

as

well

as

the

risk

that

the

counterparty

to

the

transaction

will

not

perform

its

obligations.

Counterparty

risk

is

mitigated

by

having

a

master

agreement

between

the

Fund

and

the

counterparty.

Unsettled

TBA

commitments

are

valued

at

their

fair

value

according

to

the

procedures

described

in

the

Financial

Instrument

Valuation

note.

The

contract

is

marked

to

market

daily

and

the

change

in

fair

value

is

recorded

by

the

Fund

as

an

unrealized

gain

or

loss.

Based

on

market

circumstances,

the

investment

manager

will

determine

whether

to

take

delivery

of

the

underlying

securities

or

to

dispose

of

the

TBA

commitments

prior

to

settlement.

e. #### Derivative

#### Financial

#### Instruments
The

Fund invested

in

derivative

financial

instruments

in

order

to

manage

risk

or

gain

exposure

to

various

other

investments

or

markets.

Derivatives

are

financial

contracts

based

on

an

underlying

or

notional

amount,

require

no

initial

investment

or

an

initial

net

investment

that

is

smaller

than

would

normally

be

required

to

have

a

similar

response

to

changes

in

market

factors,

and

require

or

permit

net

settlement.

Derivatives

contain

various

risks

including

the

potential

inability

of

the

counterparty

to

fulfill

their

obligations

under

the

terms

of

the

contract,

the

potential

for

an

illiquid

secondary

market,

and/or

the

potential

for

market

movements

which

expose

the

Fund

to

gains

or

losses

in

excess

of

the

amounts

shown

in

the

Statement

of

Assets

and

Liabilities.

Realized

gain

and

loss

and

unrealized

appreciation

and

depreciation

on

these

contracts

for

the

period

are

included

in

the

Statement

of

Operations.

Derivative

counterparty

credit

risk

is

managed

through

a

formal

evaluation

of

the

creditworthiness

of

all

potential

counterparties.

The

Fund

attempts

to

reduce

its

exposure

to

counterparty

credit

risk

on

OTC

derivatives,

whenever

possible,

by

entering

into

International

Swaps

and

Derivatives

Association

(ISDA)

master

agreements

with

certain

counterparties.

These

agreements

contain

various

provisions,

including

but

not

limited

to

collateral

requirements,

events

of

default,

or

early

termination.

Termination

events

applicable

to

the

counterparty

include

certain

deteriorations

in

the

credit

quality

of

the

counterparty.

Termination

events

applicable

to

the

Fund

include

failure

of

the

Fund

to

maintain

certain

net

asset

levels

and/or

limit

the

decline

in

net

assets

over

various

periods

of

time.

In

the

event

of

default

or

early

termination,

the

ISDA

master

agreement

gives

the

non-defaulting

party

the

right

to

net

and

close-out

all

transactions

traded,

whether

or

not

arising

under

the

ISDA

agreement,

to

one

net

amount

payable

by

one

counterparty

to

the

other.

However,

absent

an

event

of

default

or

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

in

the

Statement

of

Assets

and

Liabilities.

Early

termination

by

the

counterparty

may

result

in

an

immediate

payment

by

the

Fund

of

any

net

liability

owed

to

that

counterparty

under

the

ISDA

agreement.

Collateral

requirements

differ

by

type

of

derivative.

Collateral

or

initial

margin

requirements

are

set

by

the

broker

or

exchange

clearing

house

for

exchange

traded

and

centrally

cleared

derivatives.

Initial

margin

deposited

is

held

at

the

exchange

and

can

be

in

the

form

of

cash

and/or

securities.

For

OTC

derivatives

traded

under

an

ISDA

master

agreement,

posting

of

collateral

is

required

by

either

the

Fund

or

the

applicable

counterparty

if

the

total

net

exposure

of

all

OTC

derivatives

with

the

applicable

counterparty

exceeds

the

minimum

transfer

amount,

which

typically

ranges

from

$100,000

to

$250,000,

and

can

vary

depending

on

the

counterparty

and

the

type

of agreement.

Generally,

collateral

is

determined

at

the

close

of

Fund

business

each

day

and

any

additional

collateral

required

due

to

changes

in

derivative

values

may

be

delivered

by

the

Fund

or

the

counterparty

the

next

business

day,

or

within

a

few

business

days.

Collateral

pledged

and/or

received

by

the

Fund

for

OTC

derivatives,

if

any,

is

held

in

segregated

accounts

with

the

Fund's

custodian/counterparty

broker

and

can

be

in

the

form

of

cash

and/or

securities.

Unrestricted

cash

may

be

invested

according

to

the

Fund's

investment

objectives.

To

the

extent

that

the

amounts

due

to

the

Fund

from

its

counterparties

are

not

subject

to

collateralization

or

are

not

fully

collateralized,

the

Fund

bears

the

risk

of

loss

from

counterparty

non-performance.

The

Fund

entered

into

exchange

traded

futures

contracts

primarily

to

manage

and/or

gain

exposure

to

interest

rate

risk.

A

futures

contract

is

an

agreement

between

the

Fund

and

a

counterparty

to

buy

or

sell

an

asset

at

a

specified

price

on

a

future

date.

Required

initial

margins

are

pledged

by

the

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

d. #### Securities

#### Purchased

#### on

#### a

#### When-Issued,

#### Forward Commitment or

#### Delayed

#### Delivery

#### Basis

#### and

#### TBA

#### Basis
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

Fund,

and

the

daily

change

in

fair

value

is

accounted

for

as

a

variation

margin

payable

or

receivable

in

the

Statement

of

Assets

and

Liabilities.

Futures

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

The

Fund entered

into

OTC

forward

exchange

contracts

primarily

to

manage

and/or

gain exposure

to

certain

foreign

currencies.

A

forward

exchange

contract

is

an

agreement

between

the

Fund

and

a

counterparty

to

buy

or

sell

a

foreign

currency at

a

specific

exchange

rate

on

a

future

date.

Forward

exchange

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

The

Fund

entered

into

credit

default

swap

contracts

primarily

to

manage

and/or

gain

exposure

to

credit

risk.

A

credit

default

swap

is

an

agreement

between

the

Fund

and

a

counterparty

whereby

the

buyer

of

the

contract

receives

credit

protection

and

the

seller

of

the

contract

guarantees

the

credit

worthiness

of

a

referenced

debt

obligation.

These

agreements

may

be

privately

negotiated

in

the

over-the-

counter

market

(OTC

credit

default

swaps)

or

may

be

executed

in

a

multilateral

trade

facility

platform,

such

as

a

registered

exchange

(centrally

cleared

credit

default

swaps).

The

underlying

referenced

debt

obligation

may

be

a

single

issuer

of

corporate

or

sovereign

debt,

a

credit

index,

a

basket

of

issuers

or

indices,

or

a

tranche

of

a

credit

index

or

basket

of

issuers

or

indices.

In

the

event

of

a

default

of

the

underlying

referenced

debt

obligation,

the

buyer

is

entitled

to

receive

the

notional

amount

of

the

credit

default

swap

contract

from

the

seller

in

exchange

for

the

referenced

debt

obligation,

a

net

settlement

amount

equal

to

the

notional

amount

of

the

credit

default

swap

less

the

recovery

value

of

the

referenced

debt

obligation,

or

other

agreed

upon

amount.

For

centrally

cleared

credit

default

swaps,

required

initial

margins

are

pledged

by

the

Fund,

and

the

daily

change

in

fair

value

is

accounted

for

as

a

variation

margin

payable

or

receivable

in

the

Statement

of

Assets

and

Liabilities.

Over

the

term

of

the

contract,

the

buyer

pays

the

seller

a

periodic

stream

of

payments,

provided

that

no

event

of

default

has

occurred.

Such

periodic

payments

are

accrued

daily

as

an

unrealized

appreciation or

depreciation

until

the

payments

are

made,

at

which

time

they

are

realized.

Upfront

payments

and

receipts

are

reflected

in

the Statement

of

Assets

and

Liabilities

and

represent

compensating

factors

between

stated

terms

of

the

credit

default

swap

agreement

and

prevailing

market

conditions

(credit

spreads

and

other

relevant

factors).

These

upfront

payments

and

receipts

are

amortized

over

the

term

of

the

contract

as

a

realized

gain

or

loss

in

the Statement

of

Operations.

Credit

default

swap

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

The

Fund entered

into

interest

rate

swap

contracts

primarily

to

manage

interest

rate

risk.

An

interest

rate

swap

is

an

agreement

between

the

Fund

and

a

counterparty

to

exchange

cash

flows

based

on

the

difference

between

two

interest

rates,

applied

to

a

notional

amount.

These

agreements

may

be

privately

negotiated

in

the

over-the-

counter

market

(OTC

interest

rate

swaps)

or

may

be

executed

on

a

registered

exchange

(centrally

cleared

interest

rate

swaps).

For

centrally

cleared

interest

rate

swaps,

required

initial

margins

are

pledged

by

the

Fund,

and

the

daily

change

in

fair

value

is

accounted

for

as

a

variation

margin

payable

or

receivable

in

the

Statement

of

Assets

and

Liabilities.

Over

the

term

of

the

contract,

contractually

required

payments

to

be

paid

and

to

be

received

are

accrued

daily

and

recorded

as

unrealized

appreciation

or

depreciation

until

the

payments

are

made,

at

which

time

they

are

realized.

Interest

rate

swap

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

The

Fund

entered

into

OTC

total

return

swap

contracts

primarily

to

manage

and/or

gain exposure

to interest

rate risk

of

an

underlying

instrument

such

as

a

stock,

bond,

index

or

basket

of

securities

or

indices.

A

total

return

swap

is

an

agreement

between

the

Fund

and

a

counterparty

to

exchange

a

return

linked

to

an

underlying

instrument

for

a

floating

or

fixed

rate

payment,

both

based

upon

a

notional

amount.

Over

the

term

of

the

contract,

contractually

required

payments

to

be

paid

or

received

are

accrued

daily

and

recorded

as

unrealized

appreciation or

depreciation

until

the

payments

are

made,

at

which

time

they

are

recognized

as

realized

gain

or

loss. Total

return

swap contracts outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

The

Fund

purchased

or

wrote

OTC

option

contracts

primarily

to

manage

and/or

gain exposure

to

interest

rate

risk.

An

option

is

a

contract

entitling

the

holder

to

purchase

or

sell

a

specific

amount

of

shares

or

units

of

an

asset

or

notional

amount

of

a

swap

(swaption),

at

a

specified

price.

When

an

option

is

purchased

or

written,

an

amount

equal

to

the

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

e. #### Derivative

#### Financial

#### Instruments
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

premium

paid

or

received

is

recorded

as

an

asset

or

liability,

respectively.

Upon

exercise

of

an

option,

the

acquisition

cost

or

sales

proceeds

of

the

underlying

investment

is

adjusted

by

any

premium

received

or

paid.

Upon

expiration

of

an

option,

any

premium

received

or

paid

is

recorded

as

a

realized

gain

or

loss.

Upon

closing

an

option

other

than

through

expiration

or

exercise,

the

difference

between

the

premium

received

or

paid

and

the

cost

to

close

the

position

is

recorded

as

a

realized

gain

or

loss.

Option

contracts

outstanding

at

period

end,

if

any,

are

listed

in

the

Fund's

Schedule

of

Investments.

See

Note

7 regarding

other

derivative

information.

f. #### Income

#### and

#### Deferred

#### Taxes
It

is the Fund's

policy

to

qualify

as

a

regulated

investment

company

under

the

Internal

Revenue

Code. The Fund

intends

to

distribute

to

shareholders

substantially

all

of

its

taxable

income

and

net

realized

gains

to

relieve

it

from

federal

income

and if

applicable,

excise

taxes.

As

a

result,

no

provision

for

U.S.

federal

income

taxes

is

required.

The

Fund

may

be

subject

to

foreign

taxation

related

to

income

received,

capital

gains

on

the

sale

of

securities

and

certain

foreign

currency

transactions

in

the

foreign

jurisdictions

in

which it

invests.

Foreign

taxes,

if

any,

are

recorded

based

on

the

tax

regulations

and

rates

that

exist

in

the

foreign

markets

in

which

the

Fund

invests.

When

a

capital

gain

tax

is

determined

to

apply,

the

Fund

records

an

estimated

deferred

tax

liability

in

an

amount

that

would

be

payable

if

the

securities

were

disposed

of

on

the

valuation

date.

The Fund

may

recognize

an

income

tax

liability

related

to

its

uncertain

tax

positions

under

U.S.

GAAP

when

the

uncertain

tax

position

has

a

less

than

50%

probability

that

it

will

be

sustained

upon

examination

by

the

tax

authorities

based

on

its

technical

merits.

As

of

October

31,

2025, the Fund

has

determined

that

no

tax

liability

is

required

in

its

financial

statements

related

to

uncertain

tax

positions

for

any

open

tax

years

(or

expected

to

be

taken

in

future

tax

years).

Open

tax

years

are

those

that

remain

subject

to

examination

and

are

based

on

the

statute

of

limitations

in

each

jurisdiction

in

which

the Fund

invests.

g. #### Security

#### Transactions,

#### Investment

#### Income,

#### Expenses

#### and

#### Distributions
Security

transactions

are

accounted

for

on

trade

date.

Realized

gains

and

losses

on

security

transactions

are

determined

on

a

specific

identification basis.

Interest

income

(including

interest

income

from

payment-in-kind

securities,

if

any)

and

estimated

expenses

are

accrued

daily.

Amortization

of

premium

and

accretion

of

discount

on

debt

securities

are

included

in

interest

income.

Paydown

gains

and

losses

are

recorded

as

an

adjustment

to

interest

income.

Dividend

income

is recorded

on

the

ex-dividend

date.

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

Distributable

earnings are

determined

according

to

income

tax

regulations

(tax

basis)

and

may

differ

from

earnings recorded

in

accordance

with

U.S.

GAAP.

These

differences

may

be

permanent

or

temporary.

Permanent differences

are

reclassified

among

capital

accounts

to

reflect

their

tax

character.

These reclassifications

have

no

impact

on

net

assets

or

the

results

of

operations.

Temporary

differences are

not

reclassified,

as

they

may

reverse

in

subsequent

periods.

Realized

and

unrealized

gains

and

losses

and

net

investment

income,

excluding

class

specific

expenses,

are

allocated

daily

to

each

class

of

shares

based

upon

the

relative

proportion

of

net

assets

of

each

class.

Differences

in

per

share

distributions

by

class

are

generally

due

to

differences

in

class

specific

expenses.

h. #### Accounting

#### Estimates
The

preparation

of

financial

statements

in

accordance

with

U.S.

GAAP

requires

management

to

make

estimates

and

assumptions

that

affect

the

reported

amounts

of

assets

and

liabilities

at

the

date

of

the

financial

statements

and

the

amounts

of

income

and

expenses

during

the

reporting

period.

Actual

results

could

differ

from

those

estimates.

i. #### Guarantees

#### and

#### Indemnifications
Under

the Fund's

organizational

documents,

its

officers

and trustees

are

indemnified

by

the

Fund against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Fund.

Additionally,

in

the

normal

course

of

business,

the

Fund

enters

into

contracts

with

service

providers

that

contain

general

indemnification

clauses.

The Fund's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Fund

that

have

not

yet

occurred.

Currently,

the Fund

expects

the

risk

of

loss

to

be

remote.

1. #### Organization

#### and

#### Significant

#### Accounting

#### Policies
(continued)

e. #### Derivative

#### Financial

#### Instruments
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

2. #### Shares

#### of

#### Beneficial

#### Interest
At

October

31,

2025,

there

were

an

unlimited

number

of

shares

authorized

(without

par

value).

Transactions

in

the

Fund's

shares

were

as

follows:

#### Year

#### Ended

#### October

#### 31,

#### 2025

#### Year

#### Ended

#### October

#### 31,

#### 2024

#### Shares

#### Amount

#### Shares

#### Amount

#### Class

#### A

#### Shares:
Shares

sold

a

...................................

1,212,324

$12,201,914

1,488,918

$14,900,657

Shares

issued

in

reinvestment

of

distributions

..........

349,001

3,483,953

203,069

2,038,429

Shares

redeemed

...............................

(2,232,585)

(22,445,064)

(2,452,627)

(24,584,870)

Net

increase

(decrease)

..........................

(671,260)

$(6,759,197)

(760,640)

$(7,645,784)

#### Class

#### B

#### Shares:

#### \*
Shares

issued

in

reinvestment

of

distributions

..........

—

$—

$401

Shares

redeemed

...............................

—

—

(6,481)

(64,659)

Net

increase

(decrease)

..........................

—

$—

(6,441)

$(64,258)

#### Class

#### C

#### Shares:
Shares

sold

...................................

6,410

$64,247

61,984

$616,059

Shares

issued

in

reinvestment

of

distributions

..........

7,993

79,266

3,891

38,883

Shares

redeemed

a

..............................

(55,186)

(551,003)

(38,962)

(388,928)

Net

increase

(decrease)

..........................

(40,783)

$(407,490)

26,913

$266,014

#### Class

#### R

#### Shares:
Shares

sold

...................................

17,405

$173,851

13,145

$131,601

Shares

issued

in

reinvestment

of

distributions

..........

5,661

56,421

3,211

32,215

Shares

redeemed

...............................

(39,643)

(396,014)

(27,528)

(275,504)

Net

increase

(decrease)

..........................

(16,577)

$(165,742)

(11,172)

$(111,688)

#### Class

#### R5

#### Shares:
Shares

sold

...................................

2,851

$28,523

2,813

$28,263

Shares

issued

in

reinvestment

of

distributions

..........

2,375

1,307

Shares

redeemed

...............................

(2,686)

(27,018)

(4,100)

(40,464)

Net

increase

(decrease)

..........................

$3,880

(1,157)

$(10,894)

#### Class

#### R6

#### Shares:
Shares

sold

...................................

639,386

$6,435,925

468,322

$4,681,880

Shares

issued

in

reinvestment

of

distributions

..........

75,174

749,845

63,281

634,149

Shares

redeemed

...............................

(963,313)

(9,627,961)

(1,214,862)

(12,148,509)

Net

increase

(decrease)

..........................

(248,753)

$(2,442,191)

(683,259)

$(6,832,480)

#### Class

#### Y

#### Shares:
Shares

sold

...................................

2,589,837

$25,954,142

7,790,701

$77,861,847

Shares

issued

in

reinvestment

of

distributions

..........

656,271

6,550,309

284,494

2,858,408

Shares

redeemed

...............................

(2,509,060)

(25,149,181)

(2,249,875)

(22,570,028)

Net

increase

(decrease)

..........................

737,048

$7,355,270

5,825,320

$58,150,227

\*

Effective

September

5,

2024,

the

Fund

has

terminated

its

Class

B

shares.

a

May

include

a

portion

of

Class

C

shares

that

were

automatically

converted

to

Class

A. Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

3. #### Transactions

#### with

#### Affiliates
Franklin

Resources,

Inc.

is

the

holding

company

for

various

subsidiaries

that

together

are

referred

to

as

Franklin

Templeton.

Certain

officers

and trustees

of

the Fund are

also

officers

and/or directors

of

the

following

subsidiaries:

a. #### Management

#### Fees
The

Fund

pays Advisers

a

management

fee

(based

on

the

Fund's

average

net

assets

and

computed

and

paid

monthly)

at

annual

rates

that

may

vary

based

on

the

average

of

the

aggregate

net

assets

of

all

open-end

mutual

funds

sponsored

by

Putnam

Management

(including

open-end

funds

managed

by

affiliates

of

Putnam

Management

that

have

been

deemed

to

be

sponsored

by

Putnam

Management

for

this

purpose)

(excluding

net

assets

of

such

funds

that

are

invested

in,

or

that

are

invested

in

by,

other

such

funds

to

the

extent

necessary

to

avoid

"double

counting"

of

those

assets).

Such

annual

rates

may

vary

as

follows:

For

the

year

ended

October

31,

2025,

the

gross

effective

investment

management

fee

rate

was 0.523%

of

the

Fund's

average daily

net

assets.

Advisers

retained

Putnam

Management

as

subadvisor

for

the

Fund.

Pursuant

to

the

agreement,

Putnam

Management

provides

certain

advisory

and

related

services

to

the

Fund.

Advisers

pays

a

monthly

fee

to

Putnam

Management

based

on

the

costs

of

Putnam

Management

in

providing

these

services

to

the

Fund,

which

may

include

a

mark-up

not

to

exceed

15%

over

such

costs.

Under

a

subadvisory

agreement,

FTIML

provides

subadvisory

services

to

the

Fund.

The

subadvisory

fee

is

paid by Advisers

based

on

the

average

net

assets

managed

by

FTIML,

and

is

not

an

additional

expense

of

the

Fund.

b. #### Administrative

#### Fees
Under

an

agreement

with

Advisers,

FT

Services

provides

administrative

services

to

the

Fund.

The

fee

is

paid

by Advisers

based

on

the Fund's

average

daily

net

assets,

and

is

not

an

additional

expense

of

the

Fund.

#### Subsidiary

#### Affiliation
Franklin

Advisers,

Inc.

(Advisers)

Investment

manager

Putnam

Investment

Management,

LLC

(Putnam

Management)

Subadvisor

Franklin

Templeton

Investment

Management

Limited

(FTIML)

Subadvisor

Franklin

Templeton

Services,

LLC

(FT

Services)

Administrative

manager

Franklin

Distributors,

LLC

(Distributors)

Principal

underwriter

Putnam

Investor

Services,

Inc.

(PSERV)

Transfer

agent

#### Annualized

#### Fee

#### Rate

#### Net

#### Assets
0.700%

of

the

first

$5

billion,

0.650%

of

the

next

$5

billion,

0.600%

of

the

next

$10

billion,

0.550%

of

the

next

$10

billion,

0.500%

of

the

next

$50

billion,

0.480%

of

the

next

$50

billion,

0.470%

of

the

next

$100

billion

and

0.465%

of

any

excess

thereafter.

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

The

Fund

reimburses

Advisers

an

allocated

amount

for

the

compensation

and

related

expenses

of

certain

officers

of

the

Fund

and

their

staff

who

provide

administrative

services

to

the

Fund.

The

aggregate

amount

of

all

such

reimbursements

is

determined

annually

by

the

Trustees.

c. #### Distribution

#### Fees
The

Fund

has

adopted

distribution

plans

(the

Plans)

with

respect

to

the

following

share

classes

pursuant

to

Rule

12b–1

under

the

1940

Act.

The

purpose

of

the

Plans

is

to

compensate

Distributors

for

services

provided

and

expenses

incurred

in

distributing

shares

of

the

Fund.

The

Plans

provide

payments

by

the

Fund

to

Distributors

at

an

annual

rate

of

up

to

the

following

amounts

(Maximum

%)

of

the

average

net

assets

attributable

to

each

class.

The

Trustees

have

approved

payment

by

the

Fund

at

the

following

annual

rate

(Approved

%)

of

the

average

net

assets

attributable

to

each

class.

d. #### Sales

#### Charges/Underwriting

#### Agreements
Front-end

sales

charges

and

contingent

deferred

sales

charges

(CDSC)

do

not

represent

expenses

of

the

Fund.

These

charges

are

deducted

from

the

proceeds

of

sales

of

fund

shares

prior

to

investment

or

from

redemption

proceeds

prior

to

remittance,

as

applicable.

Distributors

has

advised

the

Fund

of

the

following

commission

transactions

related

to

the

sales

and

redemptions

of

the

Fund's

shares

for

the

year:

e. #### Transfer

#### Agent

#### Fees
PSERV,

an

affiliate

of

Advisers,

provides

investor

servicing

agent

functions

to

the

Fund.

PSERV

received

fees

for

investor

servicing

for

Class

A,

Class

C, Class

R and

Class

Y

shares

that

included

(1) a

per

account

fee

for

each

direct

and

underlying

non-defined

contribution

account

(retail

account)

of

the

Fund;

(2) a

specified

rate

of

the

Fund's

assets

attributable

to

defined

contribution

plan

accounts;

and

(3) a

specified

rate

based

on

the

average

net

assets

in

retail

accounts.

PSERV

has

agreed

that

the

aggregate

investor

servicing

fees

for

each

Fund's

retail

and

defined

contribution

accounts

for

these

share

classes

will

not

exceed

an

annual

rate

of

0.25%

of the

Fund's

average

assets

attributable

to

such

accounts.

Class

R5

shares

paid

a

monthly

fee

based

on

the

average

net

assets

of

Class

R5

shares

at

an

annual

rate

of

0.12%.

Class

R6

shares

paid

a

monthly

fee

based

on

the

average

net

assets

of

Class

R6

shares

at

an

annual

rate

of

0.05%.

f. #### Trustee

#### Fees
The

Fund

has

adopted

a

Trustee

Fee

Deferral

Plan

(the

Deferral

Plan)

which

allows

the

Trustees to

defer

the

receipt

of

all

or

a

portion

of

Trustees'

fees

payable

from

July

1,

1995

through

December

31,

2023. The

deferred

fees

remain

invested

in

certain

Putnam

funds

until

distribution

in

accordance

with

the

Deferral

Plan.

The

Fund

has

adopted

an

unfunded

noncontributory

defined

benefit

pension

plan

(the

Pension

Plan)

covering

all

Trustees

of

the

Fund

who

have

served

as

a

Trustee

for

at

least

five

years

and

were

first

elected

prior

to

2004. Benefits

under

the

Pension

Plan

are

equal

to

50%

of

the

Trustee's

average

annual

attendance

and

retainer

fees

for

the

three

years

ended

December

31,

#### Maximum

#### %

#### Approved

#### %
Class

A

...................................................................

0.35%

0.25%

Class

C

...................................................................

1.00%

1.00%

Class

R

...................................................................

1.00%

0.50%

Sales

charges

retained

net

of

commissions

paid

to

unaffiliated

brokers/dealers

..............................

$2,852

CDSC

retained

..............................................................................

$25,075

3. #### Transactions

#### with

#### Affiliates
(continued)

b. #### Administrative

#### Fees
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

2005. The

retirement

benefit

is

payable

during

a

Trustee's

lifetime,

beginning

the

year

following

retirement,

for

the

number

of

years

of

service

through

December

31,

2006. Pension

expense

for

the

Fund

is

included

in

the

Trustees' fees

and

expenses

in

the

Statement

of

Operations.

Accrued

pension

liability

is

included

in

Payable

for

Trustees' fees

and

expenses

in

the

Statement

of

Assets

and

Liabilities.

The

Trustees

have

terminated

the

Pension

Plan

with

respect

to

any

Trustee

first

elected

after

2003. g. #### Investments

#### in

#### Affiliated

#### Management

#### Investment

#### Companies
The

Fund

invests

in

one

or

more

affiliated

management

investment

companies.

As

defined

in

the

1940

Act,

an

investment

is

deemed

to

be

a

"Controlled

Affiliate"

of

a

fund

when

a

fund

owns,

either

directly

or

indirectly,

25%

or

more

of

the

affiliated

fund's

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

fund.

The

Fund

does

not

invest

for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

Management

fees

paid

by

the

Fund

are

waived

on

assets

invested

in

the

affiliated

management

investment

companies,

as

noted

in

the

Statement

of

Operations,

in

an

amount

not

to

exceed

the

management

and

administrative

fees,

if

applicable, paid

directly

or

indirectly

by

each

affiliate.

During

the

year

ended

October

31,

2025,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows:

h. #### Waiver

#### and

#### Expense

#### Reimbursements
Advisers

has

contractually

agreed,

through

February

28,

2027,

to

waive

fees

and/or

reimburse

the

Fund's

expenses

to

the

extent

necessary

to

limit

the

cumulative

expenses

of

the

Fund,

exclusive

of

brokerage,

interest,

taxes,

investment-related

expenses,

extraordinary

expenses,

acquired

fund

fees

and

expenses

and

payments

under

the

Fund's

investor

servicing

contract,

investment

management

contract

and

distribution

plans,

on

a

fiscal

year-to-date

basis

to

an

annual

rate

of

0.20%

of

the

Fund's

average

net

assets

over

such

fiscal

year-to-date

period.

Advisers

has

also

contractually

agreed

to

waive

fees

(and,

to

the

extent

necessary,

bear

other

expenses)

of

the

Fund

through

February

28,

2027,

to

the

extent

that

total

expenses

of

the

Fund

(excluding

brokerage,

interest,

taxes,

investment-related

expenses,

payments

under

distribution

plans,

extraordinary

expenses,

payments

under

the

Fund's

investor

servicing

contract

and

acquired

fund

fees

and

expenses,

but

including

payments

under

the

Fund's

investment

management

contract)

would

exceed

an

annual

rate

of

0.43%

of

the

Fund's

average

net

assets.

4. #### Expense

#### Offset

#### Arrangement
The Fund has

entered

into

arrangements

with

PSERV

and

its

custodian whereby

credits

realized

as

a

result

of

uninvested

cash

balances

are

used

to

reduce

a

portion

of

the

Fund's

transfer

agent

and

custodian

fees,

respectively.

During

the

year

ended

October

31,

2025,

the

fees

were

reduced

as

noted

in

the

Statement

of

Operations.

Effective

March

10,

2025,

earned

credits

on

custodian

fees,

if

any,

are

recognized

as

income.

#### &nbsp;&nbsp;&nbsp;&nbsp;aa

#### Value

#### at

#### Beginning

#### of

#### Year

#### Purchases

#### Sales

#### Realized

#### Gain
(Loss)

#### Net

#### Change

#### in

#### Unrealized

#### Appreciation
(Depreciation)

#### Value

#### at

#### End

#### of

#### Year

#### Number

#### of

#### Shares

#### Held

#### at

#### End

#### of

#### Year

#### Investment

#### Income

#### a&nbsp;&nbsp;&nbsp;&nbsp;

#### a

#### Putnam

#### Global

#### Income

#### Trust

#### Non-Controlled

#### Affiliates
Dividends

Franklin

Ultra

Short

Bond

ETF

.

$—

$5,401,724

$—

$—

$46,605

$5,448,329

217,238

$153,493

Putnam

Short

Term

Investment

Fund,

Class

P,

4.371%

......

25,806,699

53,758,564

(75,455,216)

—

—

4,110,047

4,110,047

372,639

#### Total

#### Affiliated

#### Securities

#### ...
$25,806,699

$59,160,288

$(75,455,216)

$—

$46,605

$9,558,376

$526,132

3. #### Transactions

#### with

#### Affiliates
(continued)

f. #### Trustee

#### Fees
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

5. #### Income

#### Taxes
For

tax

purposes,

capital

losses

may

be

carried

over

to

offset

future

capital

gains.

At

October

31,

2025,

the

capital

loss

carryforwards

were

as

follows:

During

the

year

ended

October

31,

2025,

the

Fund

utilized

$1,148,170

of

capital

loss

carryforwards.

The

tax

character

of

distributions

paid

during

the

years

ended

October

31,

2025

and

2024,

was

as

follows:

At

October

31,

2025,

the

cost

of

investments,

net

unrealized

appreciation

(depreciation)

and

undistributed

ordinary

income for

income

tax

purposes

were

as

follows:

Differences

between

income

and/or

capital

gains

as

determined

on

a

book

basis

and

a

tax

basis

are

primarily

due

to

differing

treatments

of

defaulted

securities,

foreign

currency

transactions,

wash

sales

and

derivative

financial

instruments.

6. #### Investment

#### Transactions
Purchases

and

sales

of

investments (excluding

short

term

securities) for

the

year

ended

October

31,

2025,

aggregated

$635,032,273 and

$567,508,032,

respectively.

Capital

loss

carryforwards

not

subject

to

expiration:

Short

term

................................................................................

$

14,314,012

Long

term

................................................................................

14,929,100

Total

capital

loss

carryforwards

...............................................................

$29,243,112

#### 2025

#### 2024
Distributions

paid

from:

Ordinary

income

..........................................................

$11,301,561

$5,833,309

Cost

of

investments

..........................................................................

$242,664,025

Unrealized

appreciation

........................................................................

$7,877,051

Unrealized

depreciation

........................................................................

(14,484,104)

Net

unrealized

appreciation

(depreciation)

..........................................................

$(6,607,053)

Distributable

earnings:

Undistributed

ordinary

income

...................................................................

$177,788

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

7. #### Other

#### Derivative

#### Information
At

October

31,

2025,

investments

in

derivative

contracts

are

reflected

in

the Statement of

Assets

and

Liabilities

as

follows:

For

the

year

ended

October

31,

2025,

the

effect

of

derivative

contracts

in

the Statement

of

Operations

was

as

follows:

#### Asset

#### Derivatives

#### Liability

#### Derivatives

#### Derivative

#### Contracts

#### Not

#### Accounted

#### for

#### as

#### Hedging

#### Instruments

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Location

#### Fair

#### Value

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Location

#### Fair

#### Value

#### Putnam

#### Global

#### Income

#### Trust
Interest

rate

contracts

.......

Variation

margin

on

futures

contracts

$

448,315

a

Variation

margin

on

futures

contracts

$

5,181

a

Variation

margin

on

centrally

cleared

swap

contracts

305,180

a

Variation

margin

on

centrally

cleared

swap

contracts

457,435

a

Unrealized

appreciation

on

forward

premium

swap

option

contracts

469,212

Unrealized

depreciation

on

forward

premium

swap

option

contracts

630,888

Foreign

exchange

contracts

..

Unrealized

appreciation

on

OTC

forward

exchange

contracts

1,520,518

Unrealized

depreciation

on

OTC

forward

exchange

contracts

985,772

Credit

contracts

............

OTC

swap

contracts

(upfront

payments)

1,311

OTC

swap

contracts

(upfront

receipts)

3,756

Unrealized

appreciation

on

OTC

swap

contracts

2,837

Unrealized

depreciation

on

OTC

swap

contracts

Total

....................

$2,747,373

$2,083,424

a

This

amount

reflects

the

cumulative

appreciation

(depreciation)

of

futures

contracts

and

centrally

cleared

swap

contracts

as

reported

in

the

Schedule

of

Investments.

Only

the

variation

margin

receivable/payable

at

year

end

is

separately

reported

within

the

Statement

of

Assets

and

Liabilities.

Prior

variation

margin

movements

were

recorded

to

cash

upon

receipt

or

payment.

#### Derivative

#### Contracts

#### Not

#### Accounted

#### for

#### as

#### Hedging

#### Instruments

#### Statement

#### of

#### Operations

#### Location

#### Net

#### Realized

#### Gain
(Loss)

#### for

#### the

#### Year

#### Statement

#### of

#### Operations

#### Location

#### Net

#### Change

#### in

#### Unrealized

#### Appreciation
(Depreciation)

#### for

#### the

#### Year

#### Putnam

#### Global

#### Income

#### Trust
Net

realized

gain

(loss)

from:

Net

change

in

unrealized

&nbsp;&nbsp;&nbsp;&nbsp;appreciation

(depreciation)

on:

Interest

rate

contracts

..........

Futures

contracts

$(457,212)

Futures

contracts

$930,452

Swap

contracts

258,033

Swap

contracts

(668,771)

Forward

premium

swap

option

contracts

99,438

Forward

premium

swap

option

contracts

(165,926)

Foreign

exchange

contracts

.....

Forward

exchange

contracts

(74,750)

Forward

exchange

contracts

(131,076)

Credit

contracts

...............

Swap

contracts

24,335

Swap

contracts

(21,461)

Total

.......................

$(150,156)

$(56,782)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

For

the

year

ended

October

31,

2025

,

the

average

month

end

notional

amount

of

futures

contracts,

swap

contracts

and

options,

and

the

average month

end

contract

value

for forward

exchange

contracts,

were as

follows:

At

October

31,

2025,

the

Fund's

OTC

derivative

assets

and

liabilities

are

as

follows:

#### Putnam

#### Global

#### Income

#### Trust
Futures

contracts

..........................................................................

$

40,514,540

Swap

contracts

............................................................................

169,671,198

Forwards

exchange

contracts

.................................................................

131,939,397

Options

..................................................................................

119,439,257

#### Gross

#### Amounts

#### of

#### Assets

#### and

#### Liabilities

#### Presented

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Assets

#### a

#### Liabilities

#### a

#### Putnam

#### Global

#### Income

#### Trust
Forward

Exchange

Contracts

.............................

$

1,520,518

$

985,772

Forward

Premium

Swap

Option

Contracts

...................

469,212

630,888

Swap

Contracts

.......................................

4,148

4,148

Total

.............................................

$1,993,878

$1,620,808

a

Absent

an

event

of

default

or

early

termination,

OTC

derivative

assets

and

liabilities

are

presented

gross

and

not

offset

in

the

Statement

of

Assets

and

Liabilities.

7. #### Other

#### Derivative

#### Information
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

At

October

31,

2025,

OTC

derivative

assets,

which

may

be

offset

against

the

Fund's

OTC

derivative

liabilities

and

collateral

received

from

the

counterparty,

are

as

follows:

#### Amounts

#### Not

#### Offset

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Gross

#### Amounts

#### of

#### Assets

#### Presented

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Financial

#### Instruments

#### Available

#### for

#### Offset

#### Financial

#### Instruments

#### Collateral

#### Received

#### a,b

#### Cash

#### Collateral

#### Received

#### b

#### Net

#### Amount

#### (Not

#### less

#### than

#### zero)

#### Putnam

#### Global

#### Income

#### Trust

#### Counterparty
BNDP

...................

$

61,133

$

—

$

—

$

—

$

61,133

BOFA

....................

7,201

(7,201)

—

—

—

BZWS

...................

25,233

(25,233)

—

—

—

CITI

.....................

1,044

(1,044)

—

—

—

DBAB

...................

—

—

—

—

—

GSCO

...................

14,621

(14,621)

—

—

—

HSBK

...................

786,652

(695,784)

—

—

90,868

JPHQ

...................

580,925

(294,274)

—

(240,000)

46,651

MCM

....................

—

—

—

—

—

MLCO

...................

1,311

(392) —

—

919

MSCO

...................

295,451

(13,450)

—

(250,000)

32,001

NATW

...................

—

—

—

—

—

SSBT

....................

9,666

(1,637)

—

—

8,029

TDOM

...................

13,020

(13,020)

—

—

—

UBSW

...................

123,705

(92,042)

(31,663)

—

—

WPAC

...................

73,916

(36,547)

—

—

37,369

Total

...................

$1,993,878

$(1,195,245)

$(31,663)

$(490,000)

$276,970

$

7. #### Other

#### Derivative

#### Information
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

At

October

31,

2025,

OTC

derivative

liabilities,

which

may

be

offset

against

the

Fund's

OTC

derivative

assets

and

collateral

pledged

to

the

counterparty,

are

as

follows:

See

Note

1(e) regarding

derivative

financial

instruments.

See

Abbreviations

on

.

8. #### Credit

#### Facility
Effective

January

31,

2025,

the

Fund,

together

with

other

U.S.

registered

and

foreign

investment

funds

(collectively,

Borrowers)

managed

by

Franklin

Templeton,

are

borrowers

in

a

joint

syndicated

senior

unsecured

credit

facility

totaling

$2.995

billion

(Global

Credit

Facility)

which

matures

on

January

30,

2026. This

Global

Credit

Facility

provides

a

source

of

funds

to

the

Borrowers

for

temporary

and

emergency

purposes,

including

the

ability

to

meet

future

unanticipated

or

unusually

large

redemption

requests.

#### Amounts

#### Not

#### Offset

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Gross

#### Amounts

#### of

#### Liabilities

#### Presented

#### in

#### the

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### Financial

#### Instruments

#### Available

#### for

#### Offset

#### Financial

#### Instruments

#### Collateral

#### Pledged

#### b,c

#### Cash

#### Collateral

#### Pledged

#### Net

#### Amount

#### (Not

#### less

#### than

#### zero)

#### Putnam

#### Global

#### Income

#### Trust

#### Counterparty
BNDP

...................

$

—

$

—

$

—

$

—

$

—

BOFA

....................

188,934

(7,201)

(150,775)

—

30,958

BZWS

...................

31,820

(25,233)

—

—

6,587

CITI

.....................

106,019

(1,044)

(104,975)

—

—

DBAB

...................

1,955

—

(1,955)

—

—

GSCO

...................

126,821

(14,621)

(111,097)

—

1,103

HSBK

...................

695,784

(695,784)

—

—

—

JPHQ

...................

294,274

(294,274)

—

—

—

MCM

....................

3,113

—

—

—

3,113

MLCO

...................

(392) —

—

—

MSCO

...................

13,450

(13,450)

—

—

—

NATW

...................

14,312

—

—

—

14,312

SSBT

....................

1,637

(1,637)

—

—

—

TDOM

...................

13,708

(13,020)

—

—

688

UBSW

...................

92,042

(92,042)

—

—

—

WPAC

...................

36,547

(36,547)

—

—

—

Total

...................

$1,620,808

$(1,195,245)

$(368,802)

$—

$56,761

a

At

October

31,

2025,

the

Fund

received

U.S

Treasury

Bills,

Bonds

and

Notes

as

collateral

for

derivatives.

b

I

n

some

instances,

the

collateral

amounts

disclosed

in

the

table

above

were

adjusted

due

to

the

requirement

to

limit

the

collateral

amounts

to

avoid

the

effect

of

over

collateralization.

Actual

collateral

received

and/or

pledged

may

be

more

than

the

amounts

disclosed

herein.

c

See

the

accompanying

Schedule

of

Investments

for

securities

pledged

as

collateral

for

derivatives.

7. #### Other

#### Derivative

#### Information
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

Under

the

terms

of

the

Global

Credit

Facility,

the

Fund

shall,

in

addition

to

interest

charged

on

any

borrowings

made

by

the

Fund

and

other

costs

incurred

by

the

Fund,

pay its

share

of

fees

and

expenses

incurred

in

connection

with

the

implementation

and

maintenance

of

the

Global

Credit

Facility,

based

upon its

relative

share

of

the

aggregate

net

assets

of

all

of

the

Borrowers,

including

an

annual

commitment

fee

of

0.15%

based

upon

the

unused

portion

of

the

Global

Credit

Facility.

These

fees

are

reflected

in

other

expenses

in

the

Statement

of

Operations.

During

the

reporting

period,

the

Fund

did

not

use

the

Global

Credit

Facility.

Prior

to

January

31,

2025,

the

Fund

participated,

along

with

other

Putnam

funds,

in

a

$320

million

syndicated

unsecured

committed

line

of

credit,

provided

by

State

Street

($160

million)

and

JPMorgan

($160

million),

and

a

$235.5

million

unsecured

uncommitted

line

of

credit,

provided

by

State

Street.

Borrowings

may

have

been

made

for

temporary

or

emergency

purposes,

including

the

funding

of

shareholder

redemption

requests

and

trade

settlements.

Interest

was

charged

to

the

Fund

based

on

the

Fund's

borrowings.

A

closing

fee

equal

to

0.04%

of

the

committed

line

of

credit

and

0.04%

of

the

uncommitted

line

of

credit

was

paid

by

the

participating

funds

and

a

$75,000

fee

was

paid

by

the

participating

funds

to

State

Street

as

agent

of

the

syndicated

committed

line

of

credit.

In

addition,

a

commitment

fee

of

0.21%

per

annum

on

any

unutilized

portion

of

the

committed

line

of

credit

was

allocated

to

the

participating

funds

based

on

their

relative

net

assets

and

paid

quarterly.

During

the

reporting

period,

the

Fund

had

no

borrowings

against

these

arrangements.

9. #### Fair

#### Value

#### Measurements
The

Fund

follows

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the Fund's

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

Fund's financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

Level

–

quoted

prices

in

active

markets

for

identical

financial

instruments

Level

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

Level

–

significant

unobservable

inputs

(including

the

Fund's

own

assumptions

in

determining

the

fair

value

of

financial

instruments)

The

input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level.

A

summary

of

inputs

used

as

of

October

31,

2025,

in

valuing

the

Fund's assets

and

liabilities carried

at

fair

value,

is

as

follows:

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Total

#### Putnam

#### Global

#### Income

#### Trust

#### Assets:
Investments

in

Securities:

a

Management

Investment

Companies

.........

$

5,448,329

$

—

$

—

$

5,448,329

Corporate

Bonds

........................

—

73,835,608

—

73,835,608

Foreign

Government

and

Agency

Securities

....

—

68,005,569

—

68,005,569

Asset-Backed

Securities

...................

—

12,003,722

—

12,003,722

Commercial

Mortgage-Backed

Securities

......

—

9,766,934

—

9,766,934

Mortgage-Backed

Securities

................

—

42,432,345

—

42,432,345

Residential

Mortgage-Backed

Securities

.......

—

17,408,875

—

17,408,875

Agency

Commercial

Mortgage-Backed

Securities

—

11,079,779

—

11,079,779

Short

Term

Investments

...................

4,110,047

1,289,519

—

5,399,566

Total

Investments

in

Securities

...........

$9,558,376

$235,822,351

$—

$245,380,727

8. #### Credit

#### Facility
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

10. #### Operating

#### Segments
The Fund operates

as

a

single

operating

segment,

which

is

an

investment

portfolio.

The

portfolio

managers

assigned

to

the

Fund

within

the

Fund's

Investment

manager serve

as

the

Chief

Operating

Decision

Maker

("CODM")

and

are

responsible

for

evaluating

the

Fund's

operating

results

and

allocating

resources

in

accordance

with

the

Fund's

investment

strategy.

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 Schedule

of

Investments

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.

11. #### New

#### Accounting

#### Pronouncements
In

December

2023,

the

FASB

issued

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

removing

certain

disclosure

requirements.

The

ASU

is

effective

for

annual

periods

beginning

after

December

15,

2024,

with

early

adoption

permitted.

Management

is

currently

evaluating

the

impact

and

believes

that

the

adoption

of

the

ASU

will

not

have

a

material

impact

on

the

financial

statements.

12. #### Subsequent

#### Events
The

Fund

has

evaluated

subsequent

events

through

the

issuance

of

the

financial

statements

and

determined

that

no

events

have

occurred

that

require

disclosure.

#### Level

#### 1

#### Level

#### 2

#### Level

#### 3

#### Total

#### Putnam

#### Global

#### Income

#### Trust
(continued)

#### Assets:
(continued)

Other

Financial

Instruments:

Forward

Exchange

Contracts

...............

$—

$1,520,518

$—

$1,520,518

Forward

Premium

Swap

Option

Contracts

.....

—

469,212

—

469,212

Futures

Contracts

.......................

448,315

—

—

448,315

Swap

Contracts

.........................

—

308,017

—

308,017

Total

Other

Financial

Instruments

.........

$448,315

$2,297,747

$—

$2,746,062

#### Liabilities:
Other

Financial

Instruments:

TBA

Sale

Commitments

...................

$

—

$

9,935,890

$

—

$

9,935,890

Forward

Exchange

Contracts

...............

—

985,772

—

985,772

Forward

Premium

Swap

Option

Contracts

......

—

630,888

—

630,888

Futures

Contracts

........................

5,181

—

—

5,181

Swap

Contracts

.........................

—

457,827

—

457,827

Total

Other

Financial

Instruments

.........

$5,181

$12,010,377

$—

$12,015,558

a

For

detailed

categories,

see

the

accompanying

Schedule

of

Investments.

9. #### Fair

#### Value

#### Measurements
(continued)

Putnam

Global

Income

Trust

Notes

to

Financial

Statements

franklintempleton.com

Annual

Report

#### Abbreviations

#### Counterparty

#### BNDP
BNP

Paribas

SA

#### BOFA
Bank

of

America

NA

#### BZWS
Barclays

Bank

plc

#### CITI
Citibank

NA

#### DBAB
Deutsche

Bank

AG

#### GSCO
Goldman

Sachs

Group,

Inc.

#### HSBK
HSBC

Bank

plc

#### JPHQ
JPMorgan

Chase

Bank

NA

#### MCM
Mizuho

Capital

Markets

LLC

#### MLCO
Merrill

Lynch

International

&

Co.

#### MSCO
Morgan

Stanley

#### NATW
Natwest

Markets

plc

#### SSBT
State

Street

Bank

and

Trust

Co.

#### TDOM
Toronto

Dominion

Bank

#### UBSW
UBS

AG

#### WPAC
Westpac

Banking

Corp.

#### Cu

#### r

#### rency

#### AUD
Australian

Dollar

#### CAD
Canadian

Dollar

#### CHF
Swiss

Franc

#### CNY
Chinese

Yuan

#### DKK
Danish

Krone

#### EUR
Euro

#### GBP
British

Pound

#### JPY
Japanese

Yen

#### KRW
South

Korean

Won

#### MXN
Mexican

Peso

#### MYR
Malaysian

Ringgit

#### NOK
Norwegian

Krone

#### NZD
New

Zealand

Dollar

#### PLN
Polish

Zloty

#### SEK
Swedish

Krona

#### THB
Thai

Baht

#### Index

#### CMBX.NA.

#### Series

#### number
CMBX

North

America

Index

#### Selected

#### Portfolio

#### BBR
Bank

of

England

Base

Rate

#### CLO
Collateralized

Loan

Obligation

#### CMT
Constant

Monthly

U.S.

Treasury

Securities

Yield

Curve

Rate

Index

#### ETF
Exchange-Traded

Fund

#### FHLMC
Federal

Home

Loan

Mortgage

Corp.

#### FNMA
Federal

National

Mortgage

Association

#### FRN
Floating

Rate

Note

#### GNMA
Government

National

Mortgage

Association

#### IO
Interest

Only

#### PIK
Payment-In-Kind

#### REIT
Real

Estate

Investment

Trust

#### REMIC
Real

Estate

Mortgage

Investment

Conduit

#### SARON
Swiss

Average

Rate

Overnight

#### SOFR
Secured

Overnight

Financing

Rate

#### SONIA
Sterling

Overnight

Index

Average

#### STACR
Structured

Agency

Credit

Risk

#### T-Note
Treasury

Note

The

following

reference

rates,

and

their

values

as

of

period

end,

are

used

for

security

descriptions:

#### Reference

#### Index

#### Reference

#### Rate
1-day

REPO_CORRA

.................

2.35%

1-day

SARON

.......................

(0.05)%

1-day

SOFR

........................

4.22%

1-day

SONIA

........................

3.97%

1-week

CNY-Fixing

Repo

Rate

..........

1.50%

3-month

AUD

BBR

...................

3.64%

3-month

CD_KSDA

...................

2.65%

3-month

STIBOR

....................

1.94%

6-month

AUD

BBR

...................

3.88%

6-month

EURIBOR

...................

2.14%

6-month

NIBOR

.....................

4.35%

Putnam

Global

Income

Trust

Report

of

Independent

Registered

Public

Accounting

Firm

franklintempleton.com

Annual

Report

To

the

Board

of

Trustees

and

Shareholders

of

Putnam

Global

Income

Trust

#### Opinion

#### on

#### the

#### Financial

#### Statements
We

have

audited

the

accompanying

statement

of

assets

and

liabilities,

including

the

schedule

of

investments,

of

Putnam

Global

Income

Trust

(the

"Fund")

as

of

October

31,

2025,

the

related

statement

of

operations

for

the

year

ended

October

31,

2025,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2025,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2025

(collectively

referred

to

as

the

"financial

statements").

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

the

Fund

as

of

October

31,

2025,

the

results

of

its

operations

for

the

year

then

ended,

the

changes

in

its

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2025

and

the

financial

highlights

for

each

of

the

five

years

in

the

period

ended

October

31,

2025

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

#### Basis

#### for

#### Opinion
These

financial

statements

are

the

responsibility

of

the

Fund's

management.

Our

responsibility

is

to

express

an

opinion

on

the

Fund's

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Fund

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2025

by

correspondence

with

the

custodian,

transfer

agent

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinion.

/s/

PricewaterhouseCoopers

LLP

Boston,

Massachusetts

December

18,

2025

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

the

Putnam

Funds

family

of

funds

since

at

least

1957. We

have

not

been

able

to

determine

the

specific

year

we

began

serving

as

auditor.

Putnam

Global

Income

Trust

Tax

Information

(unaudited)

franklintempleton.com

Annual

Report

By

mid-February,

tax

information

related

to

a

shareholder's

proportionate

share

of

distributions

paid

during

the

preceding

calendar

year

will

be

received,

if

applicable.

Please

also

refer

to

www.franklintempleton.com

for

per

share

tax

information

related

to

any

distributions

paid

during

the

preceding

calendar

year.

Shareholders

are

advised

to

consult

with

their

tax

advisors

for

further

information

on

the

treatment

of

these

amounts

on

their

tax

returns.

The

following

tax

information

for

the

Fund

is

required

to

be

furnished

to

shareholders

with

respect

to

income

earned

and

distributions

paid

during

its

fiscal

year.

The

Fund

hereby

reports

the

following

amounts,

or

if

subsequently

determined

to

be

different,

the

maximum

allowable

amounts,

for

the

fiscal

year

ended

October

31,

2025:

Under

Section

853

of

the

Internal

Revenue

Code,

the

Fund

intends

to

elect

to

pass

through

to

its

shareholders

the

following

amounts,

or

amounts

as

finally

determined,

of

foreign

taxes

paid

and

foreign

source

income

earned

by

the

Fund

during

the

fiscal

year

ended

October

31,

2025:

#### Pursuant

#### to:

#### Amount

#### Reported
Qualified

Dividend

Income

Earned

(QDI)

§854(b)(1)(B)

$855

Section

163(j)

Interest

Earned

§163(j)

$7,749,312

#### Amount

#### Reported
Foreign

Source

Income

Earned

$48,742

Putnam

Global

Income

Trust

franklintempleton.com

Annual

Report

#### Putnam

#### Global

#### Income

#### Trust

#### Trustee

#### approval

#### of

#### management

#### contracts
(unaudited)

*Consideration* 

*of* 

*your* 

*fund's* 

*management* 

*and* 

*sub-advisory* 

*contracts*

At

their

meeting

on

June

27,

2025,

the

Board

of

Trustees

("Board"

or

the

"Trustees")

of

your

fund,

including

all

of

the

Trustees

who

are

not

"interested

persons"

(as

this

term

is

defined

in

the

Investment

Company

Act

of

1940,

as

amended

(the

"1940

Act"))

of

the

Putnam

mutual

funds

and

exchange-traded

funds

(collectively,

the

"funds")

(the

"Independent

Trustees")

approved

the

continuance

of

a

management

contract

with

Franklin

Advisers,

Inc.

(the

"Advisor"),

a

subadvisory

agreement

between

the

Advisor

and

Franklin

Templeton

Investment

Management

Limited

("FTIML"),

and

a

subadvisory

agreement

between

the

Advisor

and

Putnam

Investment

Management,

LLC

("Putnam

Management"

and

together

with

FTIML,

the

"Subadvisors")

(collectively,

the

"Management

Contracts").

The

Advisor,

FTIML,

and

Putnam

Management

are

each

direct

or

indirect,

wholly-

owned

subsidiaries

of

Franklin

Resources,

Inc.

(together

with

its

subsidiaries,

"Franklin

Templeton").

*General* 

*conclusions*

The

Board

oversees

the

management

of

each

fund

and,

as

required

by

law,

determines

annually

whether

to

approve

the

continuance

of

your

fund's

management

contract

with

the

Advisor

and

the

sub-advisory

contract

with

respect

to

your

fund

between

the

Advisor

and

each

Subadvisor.

Because

the

Subadvisors

are

affiliates

of

the

Advisor

and

the

Advisor

remains

fully

responsible

for

all

services

provided

by

the

Subadvisors,

the

Trustees

did

not

attempt

to

evaluate

the

Subadvisors

as

separate

entities.

All

references

to

the

Advisor

describing

the

Board's

considerations

should

be

deemed

to

include

references

to

the

applicable

Subadvisor

as

necessary

or

appropriate

in

the

context.

The

Board,

with

the

assistance

of

its

Contract

Committee,

requests

and

evaluates

all

information

it

deems

reasonably

necessary

under

the

circumstances

in

connection

with

its

annual

contract

review.

The

Contract

Committee

consists

solely

of

Independent

Trustees.

#### Changes

#### In

#### and

#### Disagreements

#### with

#### Accountants
For

the

period

covered

by

this

report

Not

applicable.

#### Results

#### of

#### Meeting(s)

#### of

#### Shareholders
For

the

period

covered

by

this

report

Not

applicable.

#### Remuneration

#### Paid

#### to

#### Directors,

#### Officers

#### and

#### Others
For

the

period

covered

by

this

report

Refer

to

the

financial

statements

included

herein.

Remuneration

to

officers

is

paid

by

the

Fund's

investment

manager

according

to

the

terms

of

the

agreement.

#### Board

#### Approval

#### of

#### Management

#### and

#### Subadvisory

#### Agreements
For

the

period

covered

by

this

report

Putnam

Global

Income

Trust

franklintempleton.com

Annual

Report

At

the

outset

of

the

review

process,

the

Board's

independent

staff

and

independent

legal

counsel,

as

defined

in

Rule

0-1(a)

(6) under

the

1940

Act

(their

"independent

legal

counsel"),

considered

any

possible

changes

to

the

annual

contract

review

materials

furnished

to

the

Contract

Committee

in

prior

years

and,

as

applicable,

identified

those

changes

to

the

Advisor.

Following

these

discussions

and

in

consultation

with

the

Contract

Committee,

the

Independent

Trustees'

independent

legal

counsel

submitted

an

initial

request

that

the

Advisor

and

its

affiliates

furnish

specified

information,

together

with

any

additional

information

the

Advisor

considered

relevant,

to

the

Contract

Committee.

Over

the

course

of

several

months

ending

in

June

2025,

the

Contract

Committee

met

on

a

number

of

occasions

with

representatives

of

the

Advisor,

and

separately

in

executive

session,

to

consider

the

information

that

the

Advisor

provided,

including

information

provided

in

response

to

supplemental

requests

submitted

by

independent

legal

counsel.

Throughout

this

process,

the

Contract

Committee

was

assisted

by

the

Board's

independent

staff

and

by

independent

legal

counsel.

At

the

Board's

June

2025

meeting,

the

Contract

Committee

met

in

executive

session

to

discuss

and

consider

its

recommendations

with

respect

to

the

continuance

of

the

Management

Contracts.

At

that

meeting,

the

Contract

Committee

also

met

in

executive

session

with

the

other

Independent

Trustees

to

review

a

summary

of

the

process

undertaken

by

the

Contract

Committee

and

key

information

that

the

Contract

Committee

considered

in

the

course

of

its

review.

The

Contract

Committee

then

presented

its

written

report,

which

summarized

the

key

factors

that

the

Committee

had

considered

and

set

forth

its

recommendations.

The

Contract

Committee

recommended,

and

the

Independent

Trustees

approved,

the

continuance

of

your

fund's

Management

Contracts,

effective

July

1,

2025. In

considering

the

continuance

of

the

Management

Contracts,

the

Board

took

into

account

a

number

of

factors,

including:

1. That

the

fee

schedule

in

effect

for

your

fund

represented

reasonable

compensation

in

light

of

the

nature

and

quality

of

the

services

being

provided

to

the

fund,

the

fees

paid

by

competitive

funds,

the

costs

incurred

by

the

Advisor

in

providing

services

to

the

fund

and

the

application

of

certain

reductions

and

waivers

noted

below;

2. That

the

fee

schedule

in

effect

for

your

fund

represented

an

appropriate

sharing

between

fund

shareholders

and

the

Advisor

of

any

economies

of

scale

that

may

exist

in

the

management

of

the

fund

at

current

asset

levels;

3. That

the

funds

benefited,

and

were

expected

to

continue

to

benefit,

from

Franklin

Templeton's

large

retail

and

institutional

global

distribution

capabilities

and

significant

network

of

intermediary

relationships,

which

may

provide

additional

opportunities

for

the

funds

to

increase

assets

and

reduce

the

impact

of

expenses

by

spreading

them

over

a

larger

asset

base;

4. Potential

benefits

to

shareholders

of

the

funds

that

could

result

from

the

alignment

of

certain

fund

features

and

shareholder

benefits

with

those

of

other

funds

sponsored

by

the

Advisor

and

its

affiliates

and

access

to

a

broader

array

of

investment

opportunities;

and

5. The

financial

strength,

reputation,

experience

and

resources

of

Franklin

Templeton

and

its

investment

advisory

subsidiaries.

These

conclusions

were

based

on

a

comprehensive

consideration

of

all

information

provided

to

the

Trustees

and

were

not

the

result

of

any

single

factor.

Some

of

the

factors

that

figured

particularly

in

the

Trustees'

deliberations

and

how

the

Trustees

considered

these

factors

are

described

below,

although

individual

Trustees

may

have

evaluated

the

information

presented

differently,

giving

different

weights

to

various

factors.

It

is

also

important

to

recognize

that

the

management

arrangements

for

your

fund

and

the

other

funds

are

the

result

of

many

years

of

review

and

discussion

between

the

Independent

Trustees

and

management,

occurring

both

in

connection

with

formal

contract

reviews

as

well

as

throughout

the

year

and

that

the

Trustees'

conclusions

may

be

based,

in

part,

on

their

consideration

of

fee

arrangements

in

previous

years.

For

example,

with

certain

exceptions

primarily

involving

newer

funds

(including

the

exchange-traded

funds)

or

repositioned

funds,

the

current

fee

arrangements

under

the

vast

majority

of

the

funds'

management

contracts

were

first

implemented

at

the

beginning

of

2010

following

extensive

review

by

the

Contract

Committee

and

discussions

with

management,

as

well

as

approval

by

shareholders.

Putnam

Global

Income

Trust

franklintempleton.com

Annual

Report

*Management* 

*fee* 

*schedules* 

*and* 

*total* 

*expenses*

The

Trustees

reviewed

the

management

fee

schedules

in

effect

for

all

funds,

including

fee

levels

and

any

breakpoints.

Under

its

management

contract,

your

fund

has

the

benefit

of

breakpoints

in

its

management

fee

schedule

that

provide

shareholders

with

reduced

fee

levels

as

assets

under

management

of

other

mutual

funds

sponsored

by

the

applicable

Advisor

(or

that

have

been

deemed

to

be

sponsored

by

the

Advisor

for

the

purpose

of

the

management

fee

calculation)

increase.

The

Trustees

also

reviewed

the

total

expenses

of

each

fund,

recognizing

that

in

most

cases

management

fees

represented

the

major,

but

not

the

sole,

determinant

of

total

costs

to

fund

shareholders.

(Two

mutual

funds

and

each

of

the

exchange-traded

funds

have

implemented

(or,

in

the

case

of

ten

municipal

income

funds

that

are

converting

into

exchange-traded

funds,

will

implement)

so-

called

"all-in"

or

unitary

management

fees

covering

substantially

all

routine

fund

operating

costs.)

In

reviewing

fees

and

expenses,

the

Trustees

generally

focus

their

attention

on

material

changes

in

circumstances

—

for

example,

changes

in

assets

under

management,

changes

in

a

fund's

investment

strategy,

changes

in

the

Advisor's

operating

costs

or

profitability,

or

changes

in

competitive

practices

in

the

fund

industry

—

that

suggest

that

consideration

of

fee

changes

might

be

warranted.

The

Trustees

concluded

that

the

circumstances

did

not

indicate

that

changes

to

the

management

fee

schedule

for

your

fund

would

be

appropriate

at

this

time.

As

in

the

past,

the

Trustees

also

focused

on

the

competitiveness

of

each

fund's

total

expense

ratio.

The

Trustees,

the

Advisor

and

the

funds'

investor

servicing

agent,

Putnam

Investor

Services,

Inc.

("PSERV"),

have

implemented

expense

limitations

that

were

in

effect

during

your

fund's

fiscal

year

ending

in

2024. These

expense

limitations

were:

(i) a

contractual

expense

limitation

applicable

to

specified

mutual

funds

(including

your

fund)

of

basis

points

on

investor

servicing

fees

and

expenses

and

(ii) a

contractual

expense

limitation

applicable

to

specified

mutual

funds

(including

your

fund)

of

basis

points

on

so-called

"other

expenses"

(i.e.,

all

expenses

exclusive

of

management

fees,

distribution

fees,

investor

servicing

fees,

investment-related

expenses,

interest,

taxes,

brokerage

commissions,

acquired

fund

fees

and

expenses

and

extraordinary

expenses).

These

expense

limitations

attempt

to

maintain

competitive

expense

levels

for

the

funds.

Most

funds

had

sufficiently

low

expenses

that

these

expense

limitations

were

not

operative

during

their

fiscal

years

ending

in

2024. However,

in

the

case

of

your

fund,

the

second

expense

limitation

applied

during

its

fiscal

year

ending

in

2024. The

Advisor

and

PSERV

have

agreed

to

maintain

these

expense

limitations

until

at

least

February

28,

2027. In

addition,

the

Advisor

contractually

agreed

to

waive

fees

and/or

reimburse

expenses

of

your

fund

to

the

extent

that

the

total

annual

operating

expenses

of

the

fund

(excluding

payments

under

the

fund's

distribution

plans,

investor

servicing

fees,

brokerage,

interest,

taxes,

investment-related

expenses,

extraordinary

expenses

and

acquired

fund

fees

and

expenses)

would

exceed

an

annual

rate

of

0.43%

of

its

average

net

assets

through

at

least

February

28,

2027. During

its

fiscal

year

ending

in

2024,

your

fund's

expenses

were

reduced

as

a

result

of

this

expense

limitation.

The

Advisor

and

PSERV's

commitment

to

these

expense

limitation

arrangements,

which

were

intended

to

support

an

effort

to

have

the

mutual

fund

expenses

meet

competitive

standards,

was

an

important

factor

in

the

Trustees'

decision

to

approve

the

continuance

of

your

fund's

Management

Contracts.

The

Trustees

reviewed

comparative

fee

and

expense

information

for

a

custom

group

of

competitive

funds

selected

by

Broadridge

Financial

Solutions,

Inc.

("Broadridge").

This

comparative

information

included

your

fund's

percentile

ranking

for

effective

management

fees

and

total

expenses

(excluding

any

applicable

12b-1

fees),

which

provides

a

general

indication

of

your

fund's

relative

standing.

In

the

custom

peer

group,

your

fund

ranked

in

the

second

quintile

in

effective

management

fees

(determined

for

your

fund

and

the

other

funds

in

the

custom

peer

group

assuming

the

same

fund

asset

size

for

your

fund

and

the

other

funds

in

the

custom

peer

group

and

the

applicable

contractual

management

fee

schedule)

and

in

the

third

quintile

in

total

expenses

(excluding

any

applicable

12b-1

fees)

as

of

December

31,

2024. The

first

quintile

represents

the

least

expensive

funds

and

the

fifth

quintile

the

most

expensive

funds.

The

fee

and

expense

data

reported

by

Broadridge

as

of

December

31,

2024

reflected

the

most

recent

fiscal

year-end

data

available

in

Broadridge's

database

at

that

time.

Putnam

Global

Income

Trust

franklintempleton.com

Annual

Report

In

connection

with

their

review

of

fund

management

fees

and

total

expenses,

the

Trustees

also

reviewed

the

costs

of

the

services

provided

and

the

profits

realized

by

the

Advisor

and

its

affiliates

from

their

contractual

relationships

with

the

funds.

This

information

included

trends

in

revenues,

expenses

and

profitability

of

the

Advisor

and

its

affiliates

relating

to

the

investment

management,

investor

servicing

and

distribution

services

provided

to

the

funds,

as

applicable.

In

this

regard,

the

Trustees

also

reviewed

an

analysis

of

the

revenues,

expenses

and

profitability

of

the

Advisor

and

its

affiliates,

allocated

on

a

fund-by-fund

basis,

with

respect

to

(as

applicable)

the

funds'

management,

distribution

and

investor

servicing

contracts.

For

each

fund,

the

analysis

presented

information

about

revenues,

expenses

and

profitability

in

2024

for

each

of

the

applicable

agreements

separately

and

for

the

agreements

taken

together

on

a

combined

basis.

The

Trustees

concluded

that,

at

current

asset

levels,

the

fee

schedules

in

place

for

each

of

the

funds,

including

the

fee

schedule

for

your

fund,

represented

reasonable

compensation

for

the

services

being

provided

and

represented

an

appropriate

sharing

between

fund

shareholders

and

the

Advisor

of

any

economies

of

scale

as

may

exist

in

the

management

of

the

funds

at

that

time.

The

information

examined

by

the

Trustees

in

connection

with

their

annual

contract

review

for

the

funds

included

information

regarding

services

provided

and

fees

charged

by

the

Advisor

and

certain

affiliates

to

other

clients

in

similar

asset

categories,

including

other

1940

Act

funds

advised

by

the

Advisor

but

overseen

by

a

board

of

trustees

other

than

the

Board,

sub-advised

U.S.

mutual

funds,

exchange-traded

funds,

other

U.S.

products

(such

as

collective

investment

trusts,

private

funds,

and

separately

managed

and

institutional

accounts),

non-U.S.

funds,

and

other

non-U.S.

products.

This

information

included,

for

products

that

are

managed

by

the

same

portfolio

team

in

a

similar

asset

category

to

those

of

the

funds,

comparisons

of

the

fees

charged

to

other

clients,

by

category,

with

fees

charged

to

the

funds,

as

well

as

a

detailed

assessment

of

the

differences

in

the

services

provided

to

these

clients

as

compared

to

the

services

provided

to

the

funds.

The

Trustees

observed

that

the

differences

in

fee

rates

between

these

clients

and

the

funds

are

by

no

means

uniform

when

examined

by

individual

asset

classes,

suggesting

that

differences

in

the

pricing

of

investment

management

services

to

these

types

of

clients

may

reflect,

among

other

things,

historical

competitive

forces

operating

in

separate

marketplaces,

the

characteristics

of

different

clients,

the

particulars

of

different

fee

structures,

factors

unique

to

specific

market

segments,

and

the

distinct

risks

and

costs

associated

with

providing

services

to

different

clients.

The

Trustees

considered

the

fact

that

in

many

cases

fee

rates

across

different

asset

classes

are

higher

on

average

for

1940

Act-registered

funds

than

for

other

clients,

and

the

Trustees

also

considered

the

differences

between

the

services

that

the

Advisor

provides

to

the

funds

and

those

that

it

provides

to

its

other

clients.

The

Trustees

did

not

rely

on

these

fee

comparisons

to

any

significant

extent

in

concluding

that

the

management

fees

paid

by

your

fund

are

reasonable.

*Investment* 

*performance*

The

quality

of

the

investment

process

provided

by

the

Advisor

represented

a

major

factor

in

the

Trustees'

evaluation

of

the

quality

of

services

provided

by

the

Advisor

under

your

fund's

Management

Contracts.

The

Trustees

were

assisted

in

their

review

of

the

Advisor's

investment

process

and

performance

by

the

work

of

the

investment

oversight

committees

of

the

Trustees

and

the

full

Board,

which

meet

on

a

regular

basis

with

individual

portfolio

managers

and

with

senior

investment

management

of

the

Advisor

throughout

the

year.

The

Trustees

concluded

that

the

Advisor

generally

provides

a

high-quality

investment

process

—

based

on

the

experience

and

skills

of

the

individuals

assigned

to

the

management

of

fund

portfolios,

the

resources

made

available

to

them

and

in

general

the

Advisor's

ability

to

attract

and

retain

high-quality

personnel

—

but

also

recognized

that

this

does

not

guarantee

favorable

investment

results

for

every

fund

in

every

time

period.

The

Trustees

considered

that,

in

the

aggregate,

peer-relative

and

benchmark-relative

fund

performance

was

strong

in

2024

against

a

constructive

yet

complex

investing

environment.

The

S&P

500

was

up

25%

in

2024,

but

significant

concentration

of

returns

among

large

cap

and

technology

stocks

and

periods

of

volatility

posed

challenges

in

the

market.

The

Bloomberg

Aggregate

fixed

income

index

was

up

slightly

over

1%

amidst

many

moving

pieces,

with

the

Federal

Reserve

cutting

the

Effective

Federal

Funds

rate

from

5.25%

at

year-end

2023

to

4.25%

at

year-end

2024,

with

three

cuts

in

the

latter

part

of

the

year,

while

also

trying

to

manage

inflation

concerns.

Ten-year

Treasury

yields

ended

2024

at

4.6%

up

from

3.9%

at

year-end

2023. Corporate

earnings

and

employment

figures

continued

to

generally

show

strength

during

the

year,

while

geopolitical

tensions

were

closely

watched.

Putnam

Global

Income

Trust

franklintempleton.com

Annual

Report

For

the

one-year

period

ended

December

31,

2024,

the

Trustees

noted

that

the

funds,

on

an

asset-weighted

basis,

ranked

in

the

27th

percentile

of

their

peers

as

determined

by

Lipper

Inc.

("Lipper")

and,

on

an

asset-weighted

basis,

outperformed

their

benchmarks

by

3.0%

gross

of

fees

over

the

one-year

period.

The

Committee

also

noted

that

the

funds'

aggregate

performance

over

longer-term

periods

continued

to

be

strong,

with

the

funds,

on

an

asset-weighted

basis,

ranking

in

the

20th,

22nd

and

20th

percentiles

of

their

Lipper

peers

over

the

three-year,

five-year

and

ten-year

periods

ended

December

31,

2024,

respectively.

The

Trustees

further

noted

that

the

funds,

in

the

aggregate,

outperformed

their

benchmarks

on

a

gross

basis

for

each

of

the

three-year,

five-year

and

ten-year

periods.

The

Trustees

also

considered

the

Morningstar

Inc.

ratings

assigned

to

the

funds

and

that

funds

were

rated

four

or

five

stars

at

the

end

of

2024,

which

represented

an

increase

of

seven

funds

year-over-year.

The

Trustees

also

considered

that

funds

were

five-star

rated

at

the

end

of

2024,

which

was

also

a

year-

over-year

increase

of

seven

funds.

The

Board

noted,

however,

the

disappointing

investment

performance

of

some

funds

for

periods

ended

December

31,

2024

and

considered

information

provided

by

the

Advisor

regarding

the

factors

contributing

to

the

underperformance

and,

where

relevant,

actions

being

taken

to

improve

the

performance

of

these

particular

funds.

The

Trustees

indicated

their

intention

to

continue

to

monitor

the

performance

of

those

funds.

For

purposes

of

the

Trustees'

evaluation

of

the

funds'

investment

performance,

the

Trustees

generally

focus

on

a

competitive

industry

ranking

of

each

fund's

total

net

return

over

a

one-year,

three-year

and

five-year

period.

For

a

number

of

funds

with

relatively

unique

investment

mandates

for

which

the

Advisor

informed

the

Trustees

that

meaningful

competitive

performance

rankings

are

not

considered

to

be

available,

the

Trustees

evaluated

performance

based

on

their

total

gross

and

net

returns

and

comparisons

of

those

returns

to

the

returns

of

selected

investment

benchmarks.

In

the

case

of

your

fund,

the

Trustees

considered

that

its

class

A

share

cumulative

total

return

performance

at

net

asset

value

was

in

the

following

quartiles

of

its

Lipper

peer

group

(Lipper

Global

Income

Funds)

for

the

one-year,

three-year

and

five-year

periods

ended

December

31,

2024

(the

first

quartile

representing

the

best-performing

funds

and

the

fourth

quartile

the

worst-performing

funds):

Over

the

one-year,

three-year

and

five-year

periods

ended

December

31,

2024,

there

were

209,

and

funds,

respectively,

in

your

fund's

Lipper

peer

group.

(When

considering

performance

information,

shareholders

should

be

mindful

that

past

performance

is

not

a

guarantee

of

future

results.)

The

Trustees

noted

that

the

Advisor

had

made

internal

promotions

and

other

portfolio

management

assignment

changes

in

2024

to

strengthen

its

investment

teams

providing

services

to

the

funds.

*Brokerage* 

*and* 

*soft-dollar* 

*allocations;* 

*distribution* 

*and* 

*investor* 

*servicing*

The

Trustees

considered

various

potential

benefits

that

the

Advisor

may

receive

in

connection

with

the

services

it

provides

under

the

management

contract

with

your

fund.

These

include

benefits

related

to

brokerage

allocation

and

the

use

of

soft

dollars,

whereby

a

portion

of

the

commissions

paid

by

a

fund

for

brokerage

may

be

used

to

acquire

research

services

that

are

expected

to

be

useful

to

the

Advisor

in

managing

the

assets

of

the

fund

and

of

other

clients.

Subject

to

policies

approved

by

the

Trustees,

soft

dollars

generated

by

these

means

may

be

used

to

acquire

brokerage

and

research

services

(including

proprietary

executing

broker

research,

third-party

research

and

market

data)

that

enhance

the

Advisor's

investment

capabilities

and

supplement

the

Advisor's

internal

research

efforts.

The

Trustees

indicated

their

continued

intent

to

monitor

regulatory

and

industry

developments

in

this

area

with

the

assistance

of

their

Contract

Committee.

In

addition,

with

the

assistance

of

their

Contract

Committee,

the

Trustees

indicated

their

continued

intent

to

monitor

the

allocation

of

the

funds'

brokerage

in

order

to

ensure

that

the

principle

of

seeking

best

price

and

execution

remains

paramount

in

the

portfolio

trading

process.

One-year

period

Three-year

period

Five-year

period

rd

rd

rd

Putnam

Global

Income

Trust

franklintempleton.com

Annual

Report

The

Advisor

may

also

receive

benefits

from

payments

that

funds

make

to

the

Advisor

for

distribution

services

and

investor

services.

In

conjunction

with

the

review

of

your

fund's

management

and

sub-advisory

contracts,

the

Trustees

reviewed

your

fund's

investor

servicing

agreement

with

PSERV

and

its

distributor's

contract

and

distribution

plans

with

Franklin

Distributors,

LLC

("Franklin

Distributors"),

both

of

which

are

affiliates

of

the

Advisor.

The

Trustees

concluded

that

the

fees

payable

by

the

mutual

funds

to

PSERV

and

Franklin

Distributors

for

such

services

were

fair

and

reasonable

in

relation

to

the

nature

and

quality

of

such

services,

the

fees

paid

by

competitive

funds

and

the

costs

incurred

by

PSERV

and

Franklin

Distributors

in

providing

such

services.

Furthermore,

the

Trustees

were

of

the

view

that

the

investor

services

provided

by

PSERV

were

required

for

the

operation

of

the

mutual

funds,

and

that

they

were

of

a

quality

at

least

equal

to

those

provided

by

other

providers.

38916-AFSOI

12/25©

2025

Franklin

Templeton.

All

rights

reserved.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR, as applicable.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 14. PURCHASES OF SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.

---

| | |
|:---|:---|
| ITEM 15. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |

---

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees that would require disclosure herein.

ITEM 16. CONTROLS AND PROCEDURES.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's principal executive officer and principal financial officer have
 concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act
 of 1940, as amended (the "1940 Act")) are effective as of a date within 90 days of the filing date of this report that includes
 the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b)
 under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) During the period covered by this report, the Registrant transitioned to a new third-party
 service provider who performs certain accounting and administrative services for the Registrant that are subject to Franklin Templeton's
 oversight.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

ITEM 19. EXHIBITS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(a) (1) Code of Ethics attached hereto.](pgit-efp20797_ex99code.htm)

Exhibit 99.CODE ETH

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(a) (3) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.](pgit-efp20797_ex99cert.htm)

Exhibit 99.CERT

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.](pgit-efp20797_ex99906cert.htm)

Exhibit 99.906CERT

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.

**Putnam Global Income Trust**

---

| | |
|:---|:---|
| By: | /s/ Jonathan S. Horwitz |

---

Jonathan S. Horwitz

Principal Executive Officer

Date: December 29, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ Jonathan S. Horwitz |

---

Jonathan S. Horwitz

Principal Executive Officer

Date: December 29, 2025

---

| | |
|:---|:---|
| By: | /s/ Jeffrey White |

---

Jeffrey White

Principal Financial Officer

Date: December 29, 2025

## Ex-99.Codeeth

**Code of Ethics for Principal Executives & Senior Financial Officers**

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|:---|:---|
| **Procedures** | &nbsp;&nbsp;&nbsp;Revised [September 27, 2024] |

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**FRANKLIN TEMPLETON AFFILIATED FUNDS**

**CODE OF ETHICS FOR PRINCIPAL EXECUTIVES AND**

**SENIOR FINANCIAL OFFICERS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. Covered Officers
 and Purpose of the Code

This code of ethics (the "Code") applies to the Principal Executive Officers, Principal Financial Officer and Principal Accounting Officer (the "Covered Officers") of each investment company advised by a Franklin Resources subsidiary and that is registered with the United States Securities & Exchange Commission ("SEC") (collectively, "FT Funds") for the purpose of promoting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Honest
 and ethical conduct, including the ethical resolution of actual or apparent conflicts of
 interest between personal and professional relationships;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Full,
 fair, accurate, timely and understandable disclosure in reports and documents that a registrant
 files with, or submits to, the SEC and in other public communications made by or on behalf
 of the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Compliance
 with applicable laws and governmental rules and regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The
 prompt internal reporting of violations of the Code to an appropriate person or persons identified
 in the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Accountability
 for adherence to the Code.

Each Covered Officer will be expected to adhere to a high standard of business ethics and must be sensitive to situations that may give rise to actual as well as apparent conflicts of interest.

*\** Rule 38a-1 under the Investment Company Act of 1940 ("1940 Act") and Rule 206(4)-7 under the Investment Advisers Act of 1940 ("Advisers Act") (together the "Compliance Rule") require registered investment companies and registered investment advisers to, among other things, adopt and implement written policies and procedures reasonably designed to prevent violations of the federal securities laws ("Compliance Rule Policies and Procedures").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;II. Other Policies
 and Procedures

This Code shall be the sole code of ethics adopted by the Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder.

Franklin Resources, Inc. has separately adopted the <u>Code of Ethics and Business Conduct</u> ("Business Conduct"), which is applicable to all officers, directors and employees of Franklin Resources, Inc., including Covered Officers. It summarizes the values, principles and business practices that guide the employee's business conduct and also provides a set of basic principles to guide officers, directors and employees regarding the minimum ethical requirements expected of them. It supplements the values, principles and business conduct identified in the Code and other existing employee policies.

Additionally, the Franklin Templeton Funds have separately adopted the <u>FTI Personal Investments and Insider Trading Policy</u> governing personal securities trading and other related matters. The Code for Insider Trading provides for separate requirements that apply to the Covered Officers and others, and therefore is not part of this Code.

Insofar as other policies or procedures of Franklin Resources, Inc., the Funds, the Funds' adviser, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. Please review these other documents or consult with the Legal Department if have questions regarding the applicability of these policies to you.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;III. Covered
 Officers Should Handle Ethically Actual and Apparent Conflicts of Interest

**Overview.** A "conflict of interest" occurs when a Covered Officer's private interest interferes with the interests of, or his or her service to, the FT Funds. For example, a conflict of interest would arise if a Covered Officer, or a member of his family, receives improper personal benefits as a result of a position with the FT Funds.

Certain conflicts of interest arise out of the relationships between Covered Officers and the FT Funds and already are subject to conflict of interest provisions in the Investment Company Act of 1940 ("Investment Company Act") and the Investment Advisers Act of 1940 ("Investment Advisers Act"). For example, Covered Officers may not individually engage in certain transactions (such as the purchase or sale of securities or other property) with the FT Funds because of their status as "affiliated persons" of the FT Funds. The FT Funds' and the investment advisers' compliance programs and procedures are designed to prevent, or identify and correct, violations of these provisions. This Code does not, and is not intended to, repeat or replace these programs and procedures, and such conflicts fall outside of the parameters of this Code.

Although typically not presenting an opportunity for improper personal benefit, conflicts arise from, or as a result of, the contractual relationship between the FT Funds, the investment advisers and the fund administrator of which the Covered Officers are also officers or employees. As a result, this Code recognizes that the Covered Officers will, in the normal course of their duties (whether formally for the FT Funds, for the adviser, the administrator, or for all three), be involved in establishing policies and implementing decisions that will have different effects on the

adviser, administrator and the FT Funds. The participation of the Covered Officers in such activities is inherent in the contractual relationship between the FT Funds, the adviser, and the administrator and is consistent with the performance by the Covered Officers of their duties as officers of the FT Funds. Thus, if performed in conformity with the provisions of the Investment Company Act and the Investment Advisers Act, such activities will be deemed to have been handled ethically. In addition, it is recognized by the FT Funds' Boards of Directors ("Boards") that the Covered Officers may also be officers or employees of one or more other investment companies covered by this or other codes.

Other conflicts of interest are covered by the Code, even if such conflicts of interest are not subject to provisions in the Investment Company Act and the Investment Advisers Act. The following list provides examples of conflicts of interest under the Code, but Covered Officers should keep in mind that these examples are not exhaustive. The overarching principle is that the personal interest of a Covered Officer should not be placed improperly before the interest of the FT Funds.

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Not
 use his or her personal influence or personal relationships improperly to influence investment
 decisions or financial reporting by the FT Funds whereby the Covered Officer would benefit
 personally to the detriment of the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Not
 cause the FT Funds to take action, or fail to take action, for the individual personal benefit
 of the Covered Officer rather than the benefit of the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Not
 retaliate against any other Covered Officer or any employee of the FT Funds or their affiliated
 persons for reports of potential violations that are made in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Report
 at least annually the following affiliations or other relationships:<sup>1</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• all
 directorships for public companies and all companies that are required to file reports with
 the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any
 direct or indirect business relationship with any independent directors of the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any
 direct or indirect business relationship with any independent public accounting firm (which
 are not related to the routine issues related to the firm's service as the Covered
 Persons accountant); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any
 direct or indirect interest in any transaction with any FT Fund that will benefit the officer
 (not including benefits derived from the advisory, sub-advisory, distribution or service
 agreements with affiliates of Franklin Resources).

These reports will be reviewed by the Legal Department for compliance with the Code.

There are some conflict of interest situations that should always be approved in writing by Franklin Resources General Counsel or Deputy General Counsel, if material. Examples of these include<sup>2</sup>:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Service
 as a director on the board of any public or private Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The
 receipt of any gifts in excess of $100 from any person, from any corporation or association.

<sup>1</sup> Reporting of these affiliations or other relationships shall be made by completing the annual Directors and Officers Questionnaire and returning the questionnaire to Franklin Resources Inc, General Counsel or Deputy General Counsel.

<sup>2</sup> Any activity or relationship that would present a conflict for a Covered Officer may also present a conflict for the Covered Officer if a member of the Covered Officer's immediate family engages in such an activity or has such a relationship. The Covered Person should also obtain written approval by FT's General Counsel in such situations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The
 receipt of any entertainment from any Company with which the FT Funds has current or prospective
 business dealings unless such entertainment is business related, reasonable in cost, appropriate
 as to time and place, and not so frequent as to raise any question of impropriety. Notwithstanding
 the foregoing, the Covered Officers must obtain prior approval from the Franklin Resources
 General Counsel for any entertainment with a value in excess of $1000.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any
 ownership interest in, or any consulting or employment relationship with, any of the FT Fund's
 service providers, other than an investment adviser, principal underwriter, administrator
 or any affiliated person thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A
 direct or indirect financial interest in commissions, transaction charges or spreads paid
 by the FT Funds for effecting portfolio transactions or for selling or redeeming shares other
 than an interest arising from the Covered Officer's employment, such as compensation
 or equity ownership.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Franklin
 Resources General Counsel or Deputy General Counsel, or the Chief Compliance Officer, will
 provide a report to the FT Funds Audit Committee of any approvals granted at the next regularly
 scheduled meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IV. Disclosure
 and Compliance

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each
 Covered Officer should familiarize himself with the disclosure requirements generally applicable
 to the FT Funds;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each
 Covered Officer should not knowingly misrepresent, or cause others to misrepresent, facts
 about the FT Funds to others, whether within or outside the FT Funds, including to the FT
 Funds' directors and auditors, and to governmental regulators and self- regulatory
 organizations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Each
 Covered Officer should, to the extent appropriate within his or her area of responsibility,
 consult with other officers and employees of the FT Funds, the FT Fund's adviser and
 the administrator with the goal of promoting full, fair, accurate, timely and understandable
 disclosure in the reports and documents the FT Funds file with, or submit to, the SEC and
 in other public communications made by the FT Funds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• It
 is the responsibility of each Covered Officer to promote compliance with the standards and
 restrictions imposed by applicable laws, rules and regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;V. Reporting
 and Accountability

Each Covered Officer must:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Upon
 becoming a covered officer affirm in writing to the Board that he or she has received, read,
 and understands the Code (see Exhibit A);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Annually
 thereafter affirm to the Board that he has complied with the requirements of the Code; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Notify
 Franklin Resources' General Counsel or Deputy General Counsel promptly if he or she
 knows of any violation of this Code. Failure to do so is itself is a violation of this Code.

Franklin Resources' General Counsel and Deputy General Counsel are responsible for applying this Code to specific situations in which questions are presented under it and have the authority to interpret this Code in any particular situation.<sup>3</sup> However, the Independent Directors of the respective FT Funds will consider any approvals or waivers<sup>4</sup> sought by any Chief Executive Officers of the Funds.

The FT Funds will follow these procedures in investigating and enforcing this Code:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Franklin
 Resources General Counsel or Deputy General Counsel will take all appropriate action to investigate
 any potential violations reported to the Legal Department;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If,
 after such investigation, the General Counsel or Deputy General Counsel believes that no
 violation has occurred, The General Counsel is not required to take any further action;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any
 matter that the General Counsel or Deputy General Counsel believes is a violation will be
 reported to the Independent Directors of the appropriate FT Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If
 the Independent Directors concur that a violation has occurred, it will inform and make a
 recommendation to the Board of the appropriate FT Fund or Funds, which will consider appropriate
 action, which may include review of, and appropriate modifications to, applicable policies
 and procedures; notification to appropriate personnel of the investment adviser or its board;
 or a recommendation to dismiss the Covered Officer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The
 Independent Directors will be responsible for granting waivers, as appropriate; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any
 changes to or waivers of this Code will, to the extent required, are disclosed as provided
 by SEC rules.<sup>5</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VI. Other
 Policies and Procedures

This Code shall be the sole code of ethics adopted by the FT Funds for purposes of Section 406 of the Sarbanes-Oxley Act and the rules and forms applicable to registered investment companies thereunder. Insofar as other policies or procedures of the FT Funds, the FT Funds' advisers, principal underwriter, or other service providers govern or purport to govern the behavior or activities of the Covered Officers who are subject to this Code, they are superseded by this Code to the extent that they overlap or conflict with the provisions of this Code. The FTI Personal Investments and Insider Trading Policy, adopted by the FT Funds, FT investment advisers and FT Fund's principal underwriter pursuant to Rule 17j-1 under the Investment Company Act, the Code of Ethics and Business Conduct and more detailed policies and procedures set forth in FT's Employee Handbook are separate requirements applying to the Covered Officers and others, and are not part of this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VII. Amendments

Any amendments to this Code must be approved or ratified by a majority vote of the FT Funds' Board including a majority of independent directors.

<sup>3</sup> Franklin Resources General Counsel and Deputy General Counsel are authorized to consult, as appropriate, with members of the Audit Committee, counsel to the FT Funds and counsel to the Independent Directors, and are encouraged to do so.

<sup>4</sup> Item 2 of Form N-CSR defines "waiver" as "the approval by the registrant of a material departure from a provision of the code of ethics" and "implicit waiver," which must also be disclosed, as "the registrant's failure to take action within a reasonable period of time regarding a material departure from a provision of the code of ethics that has been made known to an executive officer" of the registrant. See Part X.

<sup>5</sup> See Part X.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VIII. Confidentiality

All reports and records prepared or maintained pursuant to this Code will be considered confidential and shall be maintained and protected accordingly. Except as otherwise required by law or this Code, such matters shall not be disclosed to anyone other than the FT Funds' Board and their counsel.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IX. Internal
 Use

The Code is intended solely for the internal use by the FT Funds and does not constitute an admission, by or on behalf of any FT Funds, as to any fact, circumstance, or legal conclusion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;X. Disclosure
 on Form N-CSR

Item 2 of Form N-CSR requires a registered management investment company to disclose annually whether, as of the end of the period covered by the report, it has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these officers are employed by the registrant or a third party. If the registrant has not adopted such a code of ethics, it must explain why it has not done so.

The registrant must also: (1) file with the SEC a copy of the code as an exhibit to its annual report; (2) post the text of the code on its Internet website and disclose, in its most recent report on Form N-CSR, its Internet address and the fact that it has posted the code on its Internet website; or (3) undertake in its most recent report on Form N-CSR to provide to any person without charge, upon request, a copy of the code and explain the manner in which such request may be made. Disclosure is also required of amendments to, or waivers (including implicit waivers) from, a provision of the code in the registrant's annual report on Form N-CSR or on its website. If the registrant intends to satisfy the requirement to disclose amendments and waivers by posting such information on its website, it will be required to disclose its Internet address and this intention.

The Legal Department shall be responsible for ensuring that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a
 copy of the Code is filed with the SEC as an exhibit to each Fund's annual report;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any
 amendments to, or waivers (including implicit waivers) from, a provision of the Code is disclosed
 in the registrant's annual report on Form N-CSR.

In the event that the foregoing disclosure is omitted or is determined to be incorrect, the Legal Department shall promptly file such information with the SEC as an amendment to Form N- CSR.

In such an event, the Fund Chief Compliance Officer shall review the Code and propose such changes to the Code as are necessary or appropriate to prevent reoccurrences.

**Exhibit A**

**ACKNOWLEDGMENT FORM**

**Franklin Templeton Funds Code of Ethics**

**For Principal Executives and Senior Financial Officers**

**Instructions:**

&nbsp;&nbsp;&nbsp;&nbsp;1. Complete
 all sections of this form.

&nbsp;&nbsp;&nbsp;&nbsp;2. Print
 the completed form, sign, and date.

&nbsp;&nbsp;&nbsp;&nbsp;3. Submit
 completed form to FT's General Counsel c/o Code of Ethics Administration within 10
 days of becoming a Covered Officer and by February 15<sup>th</sup> of each subsequent year.

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| **E-mail:** | Code of Ethics Inquiries & Requests (internal address);<br> lpreclear@franklintempleton.com (external address) |

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| **Covered Officer's Name:** |
| **Title:** |
| **Department:** |
| **Location:** |
| **Certification for Year Ending:** |

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***To: Franklin Resources General Counsel, Legal Department***

I acknowledge receiving, reading and understanding the Franklin Templeton Fund's Code of Ethics for Principal Executive Officers and Senior Financial Officers (the "Code"). I will comply fully with all provisions of the Code to the extent they apply to me during the period of my employment. I further understand and acknowledge that any violation of the Code may subject me to disciplinary action, including termination of employment.

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|:---|:---|
| ***Signature*** | ***Date signed*** |

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## Ex-99.Cert

CERTIFICATIONS PURSUANT TO SECTION 302

EX-99.CERT

**<u>CERTIFICATIONS</u>**

I, Jonathan S. Horwitz, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of **Putnam Global Income Trust**;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule
30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to
be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to
the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting
that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the
registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officers and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and
report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.

Date: December 29, 2025

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| |
|:---|
| /s/ Jonathan S. Horwitz |
| Jonathan S. Horwitz |
| Principal Executive Officer |

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**<u>CERTIFICATIONS</u>**

I, Jeffrey White, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of **Putnam Global Income Trust**;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial information included in this report, and the financial statements
on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes
in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of,
and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officers and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period
covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officers and I have disclosed to the registrant's auditors
and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's
ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: December 29, 2025

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| |
|:---|
| /s/ Jeffrey White |
| Jeffrey White |
| Principal Financial Officer |

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## Exhibit 99.906

CERTIFICATIONS PURSUANT TO SECTION 906

EX-99.906CERT

**CERTIFICATION**

**Jonathan S. Horwitz,** Principal Executive Officer, and **Jeffrey White,** Principal Financial Officer of **Putnam Global Income Trust** (the "Registrant"), each certify to the best of their knowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Registrant's periodic report on Form N-CSR for the period ended **October 31, 2025** (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

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| | |
|:---|:---|
| **Principal Executive Officer** <br> Putnam Global Income Trust  | **Principal Financial Office**r<br> Putnam Global Income Trust |
| /s/ Jonathan S. Horwitz | /s/ Jeffrey White |
| Jonathan S. Horwitz | Jeffrey White |

---

Date: December 29, 2025 Date: December 29, 2025

This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Commission.