0000928816-21-001260 Sample Contracts

AMENDED AND RESTATED MASTER INTERFUND LENDING AGREEMENT
Master Interfund Lending Agreement • November 24th, 2021 • Putnam Target Date Funds • Massachusetts

This Amended and Restated Master Interfund Lending Agreement (as further amended, restated, supplemented or otherwise modified from time to time, the “Master Agreement”), dated as of September 24, 2021 (the “Effective Date”), is by and among each investment company listed on Schedule A or Schedule B hereto (collectively, the “Trusts,” and each portfolio series of a Trust (or if the relevant Trust has no portfolio series, then the relevant Trust) shall be referred to herein as a “Fund” and collectively as the “Funds”) and Putnam Investment Management, LLC (the “Adviser”).

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PUTNAM FUNDS SUB-MANAGEMENT CONTRACT
Putnam Funds Sub-Management Contract • November 24th, 2021 • Putnam Target Date Funds

This Sub-Management Contract is dated as of February 27, 2014 between PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”) and PUTNAM INVESTMENTS LIMITED, a company organized under the laws of England and Wales (the “Sub-Manager”).

PUTNAM TARGET DATE FUNDS CLASS R3 DISTRIBUTION PLAN AND AGREEMENT
Distribution Plan and Agreement • November 24th, 2021 • Putnam Target Date Funds

This Plan and Agreement (the “Plan”) constitutes the Distribution Plan for the Class R3 shares of the portfolio series (each a “Fund” and collectively the “Funds”) of Putnam Target Date Funds, a Massachusetts business trust (the “Trust”), adopted pursuant to the provisions of Rule 12b-1 under the Investment Company Act of 1940 (the “Act”) and the related agreement between the Trust and Putnam Retail Management Limited Partnership (“PRM”). During the effective term of this Plan, the Trust may incur expenses primarily intended to result in the sale of its Class R3 shares upon the terms and conditions hereinafter set forth:

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