SCHEDULE 13D/A 0000769317-23-000072 0000769317 XXXXXXXX LIVE 5 Common Stock 05/30/2025 false 0000830622 746909100 PUTNAM MASTER INTERMEDIATE INCOME TRUST

100 FEDERAL STREET BOSTON MA 02110

Paul E. Rasmussen 612-359-2536 80 South Eighth Street, Suite 3300 Minneapolis MN 55402-4130 0000769317 N Sit Investment Associates, Inc. b OO N MN 0.00 23620972.00 0.00 23620972.00 23620972.00 N 49 IA 0001053046 N Sit Fixed Income Advisors II, LLC b OO N DE 0.00 23620972.00 0.00 23620972.00 23620972.00 N 49 IA Common Stock PUTNAM MASTER INTERMEDIATE INCOME TRUST 100 FEDERAL STREET BOSTON MA 02110 This Amendment No. 5 ("Amendment") amends and supplements the statement on Schedule 13D filed on October 2, 2023, and amended by Amendment No. 1 filed on December 1, 2023, Amendment No. 2 filed on March 13, 2024, Amendment No. 3 filed on September 3, 2024, and Amendment No. 4 filed on April 10, 2025 (as amended, the "Original Schedule 13D" and, as amended by this Amendment, the "Schedule 13D"), relating to the shares of Common Stock ("Shares)" of Putnam Master Intermediate Income Trust (the "Issuer"). Capitalized terms used but not otherwise defined herein have the meanings set forth in the Original Schedule 13D. Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged. The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 48,184,341 Shares outstanding as of March 31, 2025, which is the total number of Shares outstanding as reported in the Issuer's Form N-CSRS. As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 23,620,972 Shares held in client accounts which represent 49.0% of the Issuer's outstanding Shares. Each of the Sit Entities may be deemed to have shared power to vote and dispose of such Shares. However, none of SIA's or SFI's directors or executive officers own Shares directly Transactions in Shares by the Sit Entities in the last 60 days are set forth in Exhibit A The clients of SIA and SFI have the right to participate in the receipt of dividends from, or proceeds from the sales of, the Shares held for their respective accounts. Not applicable. Exhibit A: Schedule of Transactions in Shares by Sit Entities in the last 60 days. Sit Investment Associates, Inc. /s/ Roger J. Sit 06/03/2025 Sit Fixed Income Advisors II, LLC /s/ Roger J. Sit 06/03/2025