Amendment No. 8 to Schedule 13D for PUTNAM MASTER INTERMEDIATE INCOME TRUST

This filing details an amendment to the Schedule 13D, originally filed on October 2, 2023, concerning the Common Stock of Putnam Master Intermediate Income Trust. Sit Investment Associates Inc. (SIA) and Sit Fixed Income Advisors II, LLC (SFI), collectively referred to as Sit Entities, have updated their beneficial ownership information. As of the filing date, the Sit Entities beneficially own 22,344,471 shares, representing 46.4% of the Issuer's outstanding shares. This amendment reflects transactions in the last 60 days, including multiple sell and buy transactions of the Common Stock. The aggregate percentage of Shares reported owned by Sit Entities is based on 48,184,341 Shares outstanding as of September 30, 2025. The filing also notes that SIA and SFI may be deemed to have shared power to vote and dispose of these shares, and their directors or executive officers do not own shares directly. The clients of SIA and SFI have the right to participate in dividends and proceeds from the sale of shares held in their accounts.