Notice to the Shareholders

10/06/2026

Dear Shareholder,
Kindly be advised that from 22 July 2026, unhedged Class BD shares within the sub-fund Putnam US Equity will be converted into hedged Class BD shares (BDH). This conversion may entail a slight increase of the ongoing charges due to the additional hedging services provided for this Class.
 
Shareholders of Class BD shares who do not agree with the proposed changes have the option
to request the redemption of their shares free of charge (other than those necessary to cover
divestment costs), if applicable until 21 July 2026 before 2.00 PM (Luxembourg time).
The above changes will be reflected in a new version of the Prospectus, which will be made available at the registered office of the Company. Additional information will be available on demand, free of charge, at the registered office of the Company, the Management Company and the Placement Agents.

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