0001193125-25-187299 Sample Contracts

SUBADVISORY AGREEMENT
Subadvisory Agreement • August 25th, 2025 • Putnam Investment Funds

THIS SUBADVISORY AGREEMENT made as of July 15, 2024 by and between FRANKLIN ADVISERS, INC., a corporation organized and existing under the laws of the State of California (hereinafter called “FAV”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a limited liability company organized and existing under the laws of the State of Delaware (“PIM”).

SUBADVISORY AGREEMENT
Subadvisory Agreement • August 25th, 2025 • Putnam Investment Funds

THIS SUBADVISORY AGREEMENT (the “Agreement”) is made as of November 1, 2024 by and between FRANKLIN ADVISERS, INC., a corporation organized and existing under the laws of the State of California (hereinafter called “FAV”), and FRANKLIN TEMPLETON INVESTMENT MANAGEMENT LIMITED (“FTIML”), a corporation existing under the laws of the United Kingdom.

AMENDED & RESTATED INVESTOR SERVICING AGREEMENT — OPEN-END FUNDS
Investor Servicing Agreement • August 25th, 2025 • Putnam Investment Funds

This AGREEMENT is made as of the 1st day of July, 2013, between each of the Putnam Funds listed in Appendix A hereto (as the same may from time to time be amended to add one or more additional Putnam Funds or to delete one or more of such Funds), each of such Funds acting severally on its own behalf and not jointly with any of such other Funds (each of such Funds being hereinafter referred to as the “Fund”), and Putnam Investment Management, LLC (the “Manager”), a Delaware limited liability company, and Putnam Investor Services, Inc. (the “Agent”), a Massachusetts corporation, and amends and restates the Amended and Restated Investor Servicing Agreement dated as of January 1, 2009 between each of the Funds, the Manager, and the Agent.

July 1, 2025
Expense Waiver Agreement • August 25th, 2025 • Putnam Investment Funds

Putnam Investment Management, LLC (“PIM”) and Franklin Advisers, Inc. (“FAV”), as applicable, hereby contractually agree, as of the date hereof, with respect to the funds specified below or in Schedule A, Schedule B, or Schedule C, to waive fees and reimburse certain expenses in the manner provided below: