BOSTON--(BUSINESS WIRE)--Aug. 7, 2025-- Franklin Advisers, Inc. announced today that The Putnam Closed-End Funds have declared their distributions for the months of August, September, October and November 2025.

The following dates apply to the distribution schedule below:

This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the Board of Trustees. If it is estimated that the source of a monthly distribution includes anything other than net investment income, the Fund will provide notice to shareholders containing the estimated sources of the distribution. These notices can be found on the Funds’ website. In early 2026, after definitive information is available, each Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by each Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary and/or tax-exempt income, long-term capital gain or return of capital).

Franklin Advisers, Inc. is a wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”).

For more information about the Funds, please call 1-800-225-1581 or consult the Funds’ website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Funds’ complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Funds.

The Funds’ common shares are traded on the New York Stock Exchange. Similar to stocks, Fund share price will fluctuate with market conditions and, at the time of sale, may be worth more or less than the original investment. Shares of closed-end funds often trade at a discount to their net asset value, and can increase an investor’s risk of loss. All investments are subject to risk, including the risk of loss.

INVESTMENT PRODUCTS: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Category: Distribution Related

Source: Franklin Resources, Inc.

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Investor Contact: 1-800-225-1581

Source: Franklin Advisers, Inc.