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Dear [advisor name here]:

In late December, we mailed a proxy statement to Putnam fund shareholders requesting their vote on proposals that affect their investments in the Putnam funds. The Putnam funds will be holding a shareholder meeting on February 27, 2014, in Boston to vote on the following proposals:

· Approving new management contracts on all Putnam funds due to the possible “change of control” of Putnam Investments resulting from the passing of Paul G. Desmarais, who was the controlling shareholder of Power Corporation of Canada, Putnam’s ultimate parent company;

· electing Trustees (all open-end funds);

· approving an Amended and Restated Declaration of Trust (all open-end funds); and

· other matters affecting the investment policies of three funds — Putnam Dynamic Asset Allocation Conservative Fund, Putnam Global Consumer Fund, and Putnam Global Financials Fund

If you receive inquiries from clients, please encourage them to take a moment to vote on these important matters. Clients can vote by visiting the website or calling the toll-free number listed on the proxy card. They also may vote by returning the card in the postage-paid envelope provided in the mailing.

Please feel free to contact me with any additional questions.

[RMD/RMA Name]