74K) and 74P) On September 26, 2008, the following fund entered into Agreements with other registered investment companies (each a Purchaser) managed by Putnam Management. Under the Agreements, each fund sold to the Purchasers the funds right to...Putnam Variable Trust • February 27th, 2009
74K) and 74P) On September 26, 2008, the following fund entered into Agreements with other registered investment companies (each a Purchaser) managed by Putnam Management. Under the Agreements, each fund sold to the Purchasers the funds right to receive, in the aggregate the following amounts, in net payments from Lehman Brothers Special Financing, Inc. in connection with certain terminated derivatives transactions (the Receivable), in each case in exchange for an initial payment plus (or minus) additional amounts based on the applicable Purchasers ultimate realized gain (or loss) on the Receivable. The Receivable will be offset against the funds net receivable from Lehman Brothers Special Financing, Inc. which is included in the Statement of assets and liabilities within the following line items. The Agreements, which are included in the Statement of assets and liabilities, are valued at fair value following procedures approved by the Trustees. All remaining payments under the agreeme
