Sub Management Contract between Putnam Investment Management, LLC and Putnam Investments Limited dated February 27, 2014; schedule A amended as of November 20, 2014 Incorporated by reference to Post Effective Amendment No. 210 to the Registrants...

Sub Management Contract between Xxxxxx Investment Management,
LLC and  Xxxxxx Investments Limited dated February 27, 2014;
schedule A amended as of November 20, 2014  Incorporated by
reference to Post Effective Amendment No. 210 to the Registrants
Registration Statement filed on May 26, 2015.