-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DjG184JQTPk1S2ZTuJYd3/GyputIWZwiPvpjZec5gzhxgxocsvrcCb0GSvOww7JZ ZZukksehyrWJPkqplyk8bw== 0000928816-09-000994.txt : 20090917 0000928816-09-000994.hdr.sgml : 20090917 20090917171921 ACCESSION NUMBER: 0000928816-09-000994 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 49 CONFORMED PERIOD OF REPORT: 20091119 FILED AS OF DATE: 20090917 DATE AS OF CHANGE: 20090917 EFFECTIVENESS DATE: 20090917 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM CONVERTIBLE INCOME GROWTH TRUST CENTRAL INDEX KEY: 0000081247 IRS NUMBER: 042493360 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02280 FILM NUMBER: 091075073 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CONVERTIBLE FUND DATE OF NAME CHANGE: 19841212 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CONVERTIBLE FUND INC /PRED/ DATE OF NAME CHANGE: 19821109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GEORGE PUTNAM FUND OF BOSTON CENTRAL INDEX KEY: 0000081259 IRS NUMBER: 046013677 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-00058 FILM NUMBER: 091075063 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002252581 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM EQUITY INCOME FUND/NEW DATE OF NAME CHANGE: 19940302 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GEORGE FUND OF BOSTON DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM INCOME FUND CENTRAL INDEX KEY: 0000081264 STANDARD INDUSTRIAL CLASSIFICATION: OIL ROYALTY TRADERS [6792] IRS NUMBER: 046013712 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-00653 FILM NUMBER: 091075055 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921471 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INCOME FUND INC/PRED/ DATE OF NAME CHANGE: 19821109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM GLOBAL EQUITY FUND CENTRAL INDEX KEY: 0000081251 IRS NUMBER: 046145734 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-01403 FILM NUMBER: 091075062 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GLOBAL GROWTH FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL EQUITIES FUND DATE OF NAME CHANGE: 19900722 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL EQUITIES FUND INC /PRED/ DATE OF NAME CHANGE: 19821109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM FUND FOR GROWTH & INCOME CENTRAL INDEX KEY: 0000081260 IRS NUMBER: 046013678 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-00781 FILM NUMBER: 091075065 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAIKLSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GROWTH FUND DATE OF NAME CHANGE: 19841025 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM INVESTORS FUND CENTRAL INDEX KEY: 0000081269 IRS NUMBER: 042713095 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-00159 FILM NUMBER: 091075069 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INVESTORS FUND INC /PRED/ DATE OF NAME CHANGE: 19821109 FORMER COMPANY: FORMER CONFORMED NAME: INCORPORATED INVESTORS DATE OF NAME CHANGE: 19670327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM VISTA FUND/NEW/ CENTRAL INDEX KEY: 0000081279 IRS NUMBER: 042430137 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-01561 FILM NUMBER: 091075038 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VISTA BASIC VALUE FUND DATE OF NAME CHANGE: 19891128 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VISTA FUND DATE OF NAME CHANGE: 19851202 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VISTA FUND INC/PRED/ DATE OF NAME CHANGE: 19821109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM EQUITY INCOME FUND/NEW/ CENTRAL INDEX KEY: 0000216934 IRS NUMBER: 046407893 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02742 FILM NUMBER: 091075067 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002551581 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM STRATEGIC INCOME TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM OPTION INCOME TRUST DATE OF NAME CHANGE: 19910307 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM GLOBAL NATURAL RESOURCES FUND CENTRAL INDEX KEY: 0000317031 IRS NUMBER: 133035507 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-03061 FILM NUMBER: 091075059 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM NATURAL RESOURCES FUND /MA/ DATE OF NAME CHANGE: 19950629 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM ENERGY RESOURCES TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: EBERSTADT ENERGY RESOURCES FUND INC DATE OF NAME CHANGE: 19850317 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM NEW YORK TAX EXEMPT INCOME TRUST CENTRAL INDEX KEY: 0000719712 IRS NUMBER: 042794490 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-03741 FILM NUMBER: 091075045 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM NEW YORK TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM U S GOVERNMENT INCOME TRUST CENTRAL INDEX KEY: 0000732337 IRS NUMBER: 042811119 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-03897 FILM NUMBER: 091075039 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM U S GOVERNMENT GUARANTEED SECURITIES INCOME TRUST DATE OF NAME CHANGE: 19910102 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM UNITED STATES GOVERNMENT SECURITIES INCOME FUND DATE OF NAME CHANGE: 19840806 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM AMERICAN GOVERNMENT INCOME FUND CENTRAL INDEX KEY: 0000759827 IRS NUMBER: 042856297 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04178 FILM NUMBER: 091075036 BUSINESS ADDRESS: STREET 1: PUTNAM INVESTMENTS INC STREET 2: ONE POST OFFICE SQUARE MAIL STOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921562 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM HIGH INCOME GOVERNMENT TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MICHIGAN TAX EXEMPT INCOME FUND / CENTRAL INDEX KEY: 0000794611 IRS NUMBER: 046626130 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04529 FILM NUMBER: 091075050 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-292-14 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MICHIGAN TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920609 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM TAX EXEMPT MONEY MARKET FUND CENTRAL INDEX KEY: 0000806944 IRS NUMBER: 046561110 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05215 FILM NUMBER: 091075041 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM TAX EXEMPT MONEY MARKET TRUST DATE OF NAME CHANGE: 19870927 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM VARIABLE TRUST CENTRAL INDEX KEY: 0000822671 IRS NUMBER: 046649095 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05346 FILM NUMBER: 091075052 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002551581 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CAPITAL MANAGER TRUST /MA/ DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM INTERNATIONAL EQUITY FUND /MA/ CENTRAL INDEX KEY: 0000868648 IRS NUMBER: 046661045 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-06190 FILM NUMBER: 091075054 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921471 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL GROWTH FUND /MA/ DATE OF NAME CHANGE: 19960805 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM OVERSEAS GROWTH FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM INTERNATIONAL GROWTH FUND DATE OF NAME CHANGE: 19901107 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000857463 IRS NUMBER: 043073948 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05977 FILM NUMBER: 091075047 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM EUROPE EQUITY FUND CENTRAL INDEX KEY: 0000842940 IRS NUMBER: 043083315 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05693 FILM NUMBER: 091075066 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002551581 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM EUROPE GROWTH FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM EUROPE FUND DATE OF NAME CHANGE: 19900726 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GOVERNMENT INCOME FUND DATE OF NAME CHANGE: 19900412 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM VOYAGER FUND CENTRAL INDEX KEY: 0000081280 IRS NUMBER: 046187125 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-01682 FILM NUMBER: 091075037 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM VOYAGER FUND INC /PRED/ DATE OF NAME CHANGE: 19821109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM NEW OPPORTUNITIES FUND CENTRAL INDEX KEY: 0000865177 IRS NUMBER: 043091455 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-06128 FILM NUMBER: 091075046 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: A6 ZIP: 02109 BUSINESS PHONE: 6172921000 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST CENTRAL INDEX KEY: 0000711402 IRS NUMBER: 042786284 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-03630 FILM NUMBER: 091075070 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921562 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000205802 IRS NUMBER: 046396109 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02675 FILM NUMBER: 091075042 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM DIVERSIFIED INCOME TRUST CENTRAL INDEX KEY: 0000836622 IRS NUMBER: 043017475 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05635 FILM NUMBER: 091075068 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921562 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MONEY MARKET FUND CENTRAL INDEX KEY: 0000081248 IRS NUMBER: 046386436 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02608 FILM NUMBER: 091075048 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A-14 LEGAL DEPARTMENT CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921471 MAIL ADDRESS: STREET 1: MAILSTOP A-14 LEGAL DEPARTMENT STREET 2: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM DAILY DIVIDEND TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM HIGH YIELD TRUST CENTRAL INDEX KEY: 0000225777 IRS NUMBER: 046415410 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-02796 FILM NUMBER: 091075056 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A-14 LEGAL DEPARTMENT CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002251581 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE STREET 2: MAILSTOP A-14 LEGAL DEPARTMENT CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM HIGH YIELD TRUST FUND DATE OF NAME CHANGE: 19960328 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM GLOBAL HEALTH CARE FUND CENTRAL INDEX KEY: 0000357295 IRS NUMBER: 046471950 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-03386 FILM NUMBER: 091075061 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002251581 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM HEALTH SCIENCES TRUST DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM TAX FREE INCOME TRUST /MA/ CENTRAL INDEX KEY: 0000771951 IRS NUMBER: 046483374 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04345 FILM NUMBER: 091075040 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: NULL FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM TAX FREE INCOME TRUST DATE OF NAME CHANGE: 19920101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM HIGH YIELD ADVANTAGE FUND CENTRAL INDEX KEY: 0000787836 IRS NUMBER: 066290063 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04616 FILM NUMBER: 091075057 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002251581 MAIL ADDRESS: STREET 1: NULL FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM HIGH YIELD TRUST II DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND/MA/ CENTRAL INDEX KEY: 0000792288 IRS NUMBER: 046626127 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04518 FILM NUMBER: 091075051 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND II DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND /MA/ DATE OF NAME CHANGE: 19920609 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM GLOBAL INCOME TRUST CENTRAL INDEX KEY: 0000794614 IRS NUMBER: 046549525 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04524 FILM NUMBER: 091075060 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ STREET 2: MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921562 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GOVERNMENT INCOME GLOBAL TRUST DATE OF NAME CHANGE: 19870225 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM GLOBAL GOVERNMENT INCOME TRUST DATE OF NAME CHANGE: 19870115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000794615 IRS NUMBER: 043057637 STATE OF INCORPORATION: MA FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05802 FILM NUMBER: 091075043 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQU CITY: BOSTON STATE: MA ZIP: 02109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM GLOBAL UTILITIES FUND CENTRAL INDEX KEY: 0000867824 IRS NUMBER: 046660195 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-05989 FILM NUMBER: 091075058 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM UTILITIES GROWTH & INCOME FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM ARIZONA TAX EXEMPT INCOME FUND CENTRAL INDEX KEY: 0000869392 IRS NUMBER: 046665534 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-06258 FILM NUMBER: 091075072 BUSINESS ADDRESS: STREET 1: PUTNAM INVESTMENTS INC STREET 2: ONE POST OFFICE SQUARE MAIL STOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 8002251585 MAIL ADDRESS: STREET 1: 2 LIBERTY SQUARE STREET 2: MAIL STOP L6 CITY: BOSTON STATE: MA ZIP: 02109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM ASSET ALLOCATION FUNDS CENTRAL INDEX KEY: 0000914209 IRS NUMBER: 046746612 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-07121 FILM NUMBER: 091075071 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM LIFE STAGES ASSET ALLOCATION TRUST DATE OF NAME CHANGE: 19931027 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM FUNDS TRUST CENTRAL INDEX KEY: 0001005942 IRS NUMBER: 043299786 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-07513 FILM NUMBER: 091075064 BUSINESS ADDRESS: STREET 1: ONE POST STREET 2: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921010 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM INVESTMENT FUNDS CENTRAL INDEX KEY: 0000932101 IRS NUMBER: 043251560 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-07237 FILM NUMBER: 091075053 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE STREET 2: MAIL STOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921562 MAIL ADDRESS: STREET 1: PUTNAM EQUITY FUNDS STREET 2: ONE POST OFFICE SQUARE MAILSTOP A 14 CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM EQUITY FUNDS DATE OF NAME CHANGE: 19941028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM MINNESOTA TAX EXEMPT INCOME FUND/MA CENTRAL INDEX KEY: 0000794612 IRS NUMBER: 046626128 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04527 FILM NUMBER: 091075049 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6172921000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM MINNESOTA TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920609 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PUTNAM OHIO TAX EXEMPT INCOME FUND/MA CENTRAL INDEX KEY: 0000794616 IRS NUMBER: 046626129 STATE OF INCORPORATION: MA FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 811-04528 FILM NUMBER: 091075044 BUSINESS ADDRESS: STREET 1: ONE POST OFFICE SQ CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-292-1000 MAIL ADDRESS: STREET 1: ONE POST OFFICE SQUARE CITY: BOSTON STATE: MA ZIP: 021009 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM OHIO TAX EXEMPT INCOME FUND II DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PUTNAM OHIO TAX EXEMPT INCOME FUND DATE OF NAME CHANGE: 19920609 0000081247 S000005511 PUTNAM CONVERTIBLE INCOME GROWTH TRUST C000015003 Class C Shares C000015004 Class A Shares PCONX C000015005 Class B Shares PCNBX C000015006 Class M Shares PCNMX C000015007 Class R Shares PCVRX C000015008 Class Y Shares PCGYX 0000081248 S000006251 PUTNAM MONEY MARKET FUND C000017191 Class T Shares C000017192 Class A Shares PDDXX C000017193 Class B Shares PTBXX C000017194 Class C Shares PFCXX C000017195 Class M Shares PTMXX C000017196 Class R Shares PURXX 0000081251 S000005651 PUTNAM GLOBAL EQUITY FUND C000015432 Class A Shares PEQUX C000015433 Class B Shares PEQBX C000015434 Class C Shares PUGCX C000015435 Class M Shares PEQMX C000015436 Class R Shares PGLRX C000015437 Class Y Shares PEQYX 0000081259 S000005597 GEORGE PUTNAM FUND OF BOSTON C000015264 Class A Shares PGEOX C000015265 Class B Shares PGEBX C000015266 Class C Shares PGPCX C000015267 Class M Shares PGEMX C000015268 Class R Shares PGPRX C000015269 Class Y Shares PGEYX 0000081260 S000005660 PUTNAM FUND FOR GROWTH & INCOME C000015486 Class A Shares PGRWX C000015487 Class B Shares PGIBX C000015488 Class C Shares PGRIX C000015489 Class M Shares PGRMX C000015490 Class R Shares PGCRX C000015491 Class Y Shares PGIYX 0000081264 S000006155 PUTNAM INCOME FUND C000016962 Class A Shares PINCX C000016963 Class B Shares PNCBX C000016964 Class C Shares PUICX C000016965 Class M Shares PNCMX C000016966 Class R Shares PIFRX C000016967 Class Y Shares PNCYX 0000081269 S000006190 PUTNAM INVESTORS FUND C000017038 Class A Shares PINVX C000017039 Class B Shares PNVBX C000017040 Class C Shares PCINX C000017041 Class M Shares PNVMX C000017042 Class R Shares PIVRX C000017043 Class Y Shares PNVYX 0000081279 S000006572 PUTNAM VISTA FUND/NEW/ C000017934 Class A Shares PVISX C000017935 Class B Shares PVTBX C000017936 Class C Shares PCVFX C000017937 Class M Shares PVIMX C000017938 Class R Shares PVIRX C000017939 Class Y Shares PVIYX 0000081280 S000006573 PUTNAM VOYAGER FUND C000017940 Class A Shares PVOYX C000017941 Class B Shares PVOBX C000017942 Class C Shares PVFCX C000017943 Class M Shares PVOMX C000017944 Class R Shares PVYRX C000017945 Class Y Shares PVYYX 0000205802 S000006568 PUTNAM TAX EXEMPT INCOME FUND C000017917 Class C Shares C000017918 Class A Shares PTAEX C000017919 Class B Shares PTBEX C000017920 Class M Shares PTXMX C000060417 CLASS Y 0000216934 S000005581 PUTNAM EQUITY INCOME FUND C000015218 Class A Shares PEYAX C000015219 Class B Shares PEQNX C000015220 Class C Shares PEQCX C000015221 Class M Shares PEIMX C000015222 Class R Shares PEQRX C000015223 Class Y Shares PEIYX 0000225777 S000006135 PUTNAM HIGH YIELD TRUST FUND C000016878 Class A Shares PHIGX C000016879 Class B Shares PHBBX C000016880 Class C Shares PCHYX C000016881 Class M Shares PHIMX C000016882 Class R Shares PHDRX C000016883 Class Y Shares PHYYX 0000317031 S000005659 PUTNAM GLOBAL NATURAL RESOURCES FUND C000015480 Class C Shares C000015481 Class Y Shares C000015482 Class A Shares EBERX C000015483 Class B Shares PNRBX C000015484 Class M Shares PGLMX C000015485 Class R Shares PGNRX 0000357295 S000005666 PUTNAM GLOBAL HEALTH CARE FUND C000015515 Class A Shares PHSTX C000015516 Class B Shares PHSBX C000015517 Class C Shares PCHSX C000015518 Class M Shares PHLMX C000015519 Class R Shares PHSRX C000015520 Class Y Shares PHSYX 0000711402 S000005498 PUTNAM CALIFORNIA TAX EXEMPT INCOME TRUST C000014969 Class A Shares PCTEX C000014970 Class B Shares PCTBX C000014971 Class C Shares PCTCX C000014972 Class M Shares PCLMX C000060520 CLASS Y 0000719712 S000006345 PUTNAM NEW YORK TAX EXEMPT INCOME TRUST C000017441 Class C Shares C000017442 Class M Shares C000017443 Class A Shares PTEIX C000017444 Class B Shares PEIBX C000060413 CLASS Y 0000732337 S000006570 PUTNAM U S GOVERNMENT INCOME TRUST C000017922 Class A Shares PGSIX C000017923 Class B Shares PGSBX C000017924 Class C Shares PGVCX C000017925 Class M Shares PGSMX C000017926 Class R Shares PGVRX C000017927 Class Y Shares PUSYX 0000759827 S000005500 PUTNAM AMERICAN GOVERNMENT INCOME FUND C000014978 Class C Shares C000014979 Class Y Shares C000014980 Class A Shares PAGVX C000014981 Class B Shars PAMBX C000014982 Class M Shares PAMMX C000014983 Class R Shares PAMRX 0000771951 S000003860 Putnam AMT -Free Insured Municipal Fund C000010817 Class C Shares C000010818 Class M Shares C000010819 Class A Shares PPNAX C000010820 Class B Shares PTFIX C000060535 CLASS Y 0000771951 S000003861 Putnam Tax-Free High Yield Fund C000010821 Class C Shares C000010822 Class A Shares PTHAX C000010823 Class B Shares PTHYX C000010824 Class M Shares PTYMX C000060536 CLASS Y 0000787836 S000005762 PUTNAM HIGH YIELD ADVANTAGE FUND C000015835 Class Y Shares C000015836 Class A Shares PHYIX C000015837 Class B Shares PHYBX C000015838 Class M Shares PHYMX C000049232 Class C C000049233 Class R 0000792288 S000006210 PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND C000017118 Class C Shares C000017119 Class M Shares C000017120 Class A Shares PXMAX C000017121 Class B Shares PMABX C000060571 CLASS Y 0000794611 S000006217 PUTNAM MICHIGAN TAX EXEMPT INCOME FUND / C000017140 Class M Shares C000017141 Class A Shares PXMIX C000017142 Class B Shares PMEBX C000039834 Class C Shares C000060570 CLASS Y 0000794612 S000006218 PUTNAM MINNESOTA TAX EXEMPT INCOME FUND II C000017143 Class M Shares C000017144 Class A Shares PXMNX C000017145 Class B Shares PMTBX C000039836 Class C Shares C000060573 CLASS Y 0000794614 S000005653 PUTNAM GLOBAL INCOME TRUST C000015446 Class C Shares C000015447 Class Y Shares C000015448 Class A Shares PGGIX C000015449 Class B Shares PGLBX C000015450 Class M Shares PGGMX C000015451 Class R Shares PGBRX 0000794615 S000006567 PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND C000017914 Class M Shares C000017915 Class A Shares PTEPX C000017916 Class B Shares PPNBX C000039842 Class C Shares C000060576 CLASS Y 0000794616 S000006390 PUTNAM OHIO TAX EXEMPT INCOME FUND II C000017546 Class M Shares C000017547 Class A Shares PXOHX C000017548 Class B Shares POXBX C000039840 Class C Shares C000060574 CLASS Y 0000806944 S000006569 PUTNAM TAX EXEMPT MONEY MARKET FUND C000017921 Class A Shares PTXXX 0000822671 S000003871 Putnam VT American Government Income Fund C000010837 Class IA Shares C000010838 Class IB shares 0000822671 S000003873 Putnam VT Growth Opportunities Fund C000010841 Class IA Shares C000010842 Class IB Shares 0000822671 S000003874 Putnam VT Global Health Care Fund C000010843 Class IA Shares C000010844 Class IB Shares 0000822671 S000003875 Putnam VT High Yield Fund C000010845 Class IA Shares C000010846 Class IB Shares 0000822671 S000003876 Putnam VT Income Fund C000010847 Class IA Shares C000010848 Class IB Shares 0000822671 S000003877 Putnam VT International Equity Fund C000010849 Class IA Shares C000010850 Class IB Shares 0000822671 S000003878 Putnam VT International Growth and Income Fund C000010851 Class IA Shares C000010852 Class IB Shares 0000822671 S000003879 Putnam VT International New Opportunities Fund C000010853 Class IA Shares C000010854 Class IB Shares 0000822671 S000003880 Putnam VT Investors Fund C000010855 Class IA Shares C000010856 Class IB Shares 0000822671 S000003881 Putnam VT Mid Cap Value Fund C000010857 Class IA Shares C000010858 Class IB Shares 0000822671 S000003882 Putnam VT Money Market Fund C000010859 Class IA Shares C000010860 Class IB Shares 0000822671 S000003883 Putnam VT Capital Opportunities Fund C000010861 Class IA Shares C000010862 Class IB Shares 0000822671 S000003884 Putnam VT New Opportunities Fund C000010863 Class IA Shares C000010864 Class IB Shares 0000822671 S000003887 Putnam VT Research Fund C000010869 Class IA Shares C000010870 Class IB Shares 0000822671 S000003888 Putnam VT Small Cap Value Fund C000010871 Class IA Shares C000010872 Class IB Shares 0000822671 S000003889 Putnam VT Global Utilities Fund C000010873 Class IA Shares C000010874 Class IB Shares 0000822671 S000003890 Putnam VT Vista Fund C000010875 Class IA Shares C000010876 Class IB Shares 0000822671 S000003891 Putnam VT Voyager Fund C000010877 Class IA Shares C000010878 Class IB Shares 0000822671 S000003893 Putnam VT Diversified Income Fund C000010881 Class IA Shares C000010882 Class IB Shares 0000822671 S000003894 Putnam VT Equity Income Fund C000010883 Class IA Shares C000010884 Class IB Shares 0000822671 S000003895 Putnam VT George Putnam Fund of Boston C000010885 Class IA Shares C000010886 Class IB Shares 0000822671 S000003896 Putnam VT Global Asset Allocation Fund C000010887 Class IA Shares C000010888 Class IB Shares 0000822671 S000003897 Putnam VT Global Equity Fund C000010889 Class IA Shares C000010890 Class IB Shares 0000822671 S000003898 Putnam VT Growth and Income Fund C000010891 Class IA Shares C000010892 Class IB Shares 0000836622 S000005529 PUTNAM DIVERSIFIED INCOME TRUST C000015036 Class A Shares PDINX C000015037 Class B Shares PSIBX C000015038 Class C Shares PDVCX C000015039 Class M Shares PDVMX C000015040 Class R Shares PDVRX C000015041 Class Y Shares PDVYX 0000842940 S000005589 PUTNAM EUROPE EQUITY FUND C000015248 Class C Shares C000015249 Class Y Shares C000015250 Class A Shares PEUGX C000015251 Class B Shares PEUBX C000015252 Class M Shares PEUMX C000015253 Class R Shares PEERX 0000857463 S000006252 PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND C000017197 Class M Shares C000017198 Class A Shares PTNJX C000017199 Class B Shares PNJBX C000039838 Class C Shares C000060575 CLASS Y 0000865177 S000006295 PUTNAM NEW OPPORTUNITIES FUND C000017306 Class A Shares PNOPX C000017307 Class B Shares PNOBX C000017308 Class C Shares PNOCX C000017309 Class M Shares PNOMX C000017310 Class R Shares PNORX C000017311 Class Y Shares PNOYX 0000867824 S000006571 PUTNAM GLOBAL UTILITIES FUND C000017928 Class C Shares C000017929 Class Y Shares C000017930 Class A Shares PUGIX C000017931 Class B Shares PUTBX C000017932 Class M Shares PUTMX C000017933 Class R Shares PULRX 0000868648 S000006181 PUTNAM INTERNATIONAL EQUITY FUND /MA/ C000017024 Class A Shares POVSX C000017025 Class B Shares POVBX C000017026 Class C Shares PIGCX C000017027 Class M Shares POVMX C000017028 Class R Shares PIERX C000017029 Class Y Shares POVYX 0000869392 S000005506 PUTNAM ARIZONA TAX EXEMPT INCOME FUND C000014989 Class M Shares C000014990 Class A Shares PTAZX C000014991 Class B Shares PAZBX C000039832 Class C Shares C000060572 CLASS Y 0000914209 S000000778 Asset Allocation: Balanced Portfolio C000002307 Class A shares PABAX C000002308 Class B shares PABBX C000002309 Class C shares AABCX C000002310 Class M shares PABMX C000002311 Class R shares PAARX C000002312 Class Y shares PABYX 0000914209 S000000779 Asset Allocation: Conservative Portfolio C000002313 Class A shares PACAX C000002314 Class B shares PACBX C000002315 Class C shares PACCX C000002316 Class M shares PACMX C000002317 Class R shares PACRX C000002318 Class Y shares PACYX 0000914209 S000000780 Asset Allocation: Growth Portfolio C000002319 Class A shares PAEAX C000002320 Class B shares PAEBX C000002321 Class C shares PAECX C000002322 Class M shares PAGMX C000002323 Class R shares PASRX C000002324 Class Y shares PAGYX 0000932101 S000003845 Putnam Capital Opportunities Fund C000010737 Class A Shares PCOAX C000010738 Class B Shares POPBX C000010739 Class C Shares PCOCX C000010740 Class M Shares POPMX C000010741 Class R Shares PCORX C000010742 Class Y Shares PYCOX 0000932101 S000003848 Putnam Growth Opportunities Fund C000010751 Class A Shares POGAX C000010752 Class B Shares POGBX C000010753 Class C Shares POGCX C000010754 Class M Shares PGOMX C000010755 Class R Shares PGORX C000010756 Class Y Shares PGOYX 0000932101 S000003849 Putnam International New Opportunities Fund C000010757 Class Y Shares C000010758 Class A shares PINOX C000010759 Class B Shares PINWX C000010760 Class C Shares PIOCX C000010761 Class M Shares PINMX C000010762 Class R Shares PNPRX 0000932101 S000003850 Putnam International Capital Opportunities C000010763 Class A Shares PNVAX C000010764 Class B Shares PVNBX C000010765 Class C Shares PUVCX C000010766 Class M shares PIVMX C000010767 Class R Shares PICRX C000010768 Class Y Shares PIVYX 0000932101 S000003851 Putnam Mid Cap Value Fund C000010769 Class M Shares C000010770 Class A Shares PMVAX C000010771 Class B shares PMVBX C000010772 Class C Shares PMPCX C000010773 Class R Shares PMVRX C000010774 Class Y Shares PMVYX 0000932101 S000003853 Putnam Research Fund C000010781 Class A Shares PNRAX C000010782 Class B Shares PRFBX C000010783 Class C Shares PRACX C000010784 Class M Shares PRFMX C000010785 Class R Shares PRSRX C000010786 Class Y Shares PURYX 0000932101 S000003854 Putnam Small Cap Value Fund C000010787 Class A Shares PSLAX C000010788 Class B Shares PSLBX C000010789 Class C Shares PSLCX C000010790 Class M Shares PSLMX C000010791 Class Y Shares PYSVX C000049250 CLASS R 0001005942 S000000773 Putnam Floating Rate Income Fund C000002278 Class B shares C000002279 Class C shares C000002280 Class M shares C000002281 Class R shares C000002282 Class Y shares C000002283 Class A shares PFLRX 0001005942 S000000774 Putnam Income Strategies Fund C000002284 Class A shares C000002285 Class B shares C000002286 Class C shares C000002287 Class M shares C000002288 Class R shares C000002289 Class Y shares 0001005942 S000000775 Putnam International Growth and Income Fund C000002290 Class Y shares C000002291 Class A shares PNGAX C000002292 Class B shares PGNBX C000002293 Class C shares PIGRX C000002294 Class M shares PIGMX C000002295 Class R shares PITRX 0001005942 S000000777 Putnam Small Cap Growth Fund C000002301 Class C shares C000002302 Class Y shares C000002303 Class A shares PNSAX C000002304 Class B shares PNSBX C000002305 Class M shares PSGMX C000002306 Class R shares PSGRX 0001005942 S000023000 PUTNAM EMERGING MARKETS EQUITY FUND C000066853 CLASS A C000066854 CLASS B C000066855 CLASS C C000066856 CLASS M C000066857 CLASS R C000066858 CLASS Y 0001005942 S000023452 PUTNAM ABSOLUTE RETURN 500 FUND C000068886 CLASS A C000068887 CLASS B C000068888 CLASS C C000068889 CLASS M C000068890 CLASS R C000068891 CLASS Y 0001005942 S000024243 Putnam Global Consumer Fund C000071511 Class A C000071512 Class B C000071513 Class C C000071514 Class M C000071515 Class R C000071516 Class Y 0001005942 S000024244 Putnam Global Energy Fund C000071517 Class M C000071518 Class R C000071519 Class Y C000071520 Class A C000071521 Class B C000071522 Class C 0001005942 S000024245 Putnam Global Financial Fund C000071523 Class A C000071524 Class B C000071525 Class C C000071526 Class M C000071527 Class R C000071528 Class Y 0001005942 S000024246 Putnam Global Industrial Fund C000071529 Class A C000071530 Class B C000071531 Class C C000071532 Class M C000071533 Class R C000071534 Class Y 0001005942 S000024247 Putnam Global Technology Fund C000071535 Class A C000071536 Class B C000071537 Class C C000071538 Class M C000071539 Class R C000071540 Class Y 0001005942 S000024248 Putnam Global Telecommunication Fund C000071541 Class A C000071542 Class B C000071543 Class C C000071544 Class M C000071545 Class R C000071546 Class Y 0001005942 S000024274 Putnam Absolute Return 100 Fund C000071705 Class A C000071706 Class B C000071707 Class C C000071708 Class M C000071709 Class R C000071710 Class Y 0001005942 S000024275 Putnam Absolute Return 300 Fund C000071711 Class M C000071712 Class R C000071713 Class Y C000071714 Class A C000071715 Class B C000071716 Class C 0001005942 S000024276 Putnam Absolute Return 700 Fund C000071717 Class A C000071718 Class B C000071719 Class C C000071720 Class M C000071721 Class R C000071722 Class Y 0001005942 S000024760 Putnam Asset Allocation: Equity Portfolio C000073568 Class A C000073569 Class Y 0001005942 S000025557 PUTNAM CAPITAL SPECTRUM FUND C000076543 CLASS A C000076544 CLASS B C000076545 CLASS C C000076546 CLASS M C000076547 CLASS R C000076548 CLASS Y 0001005942 S000025558 PUTNAM EQUITY SPECTRUM FUND C000076549 CLASS M C000076550 CLASS R C000076551 CLASS Y C000076552 CLASS A C000076553 CLASS B C000076554 CLASS C 0001005942 S000025822 Putnam Asia Pacific Equity Fund C000077196 Class A C000077197 Class B C000077198 Class C C000077199 Class M C000077200 Class R C000077201 Class Y DEF 14A 1 a_complexproxydef14a.htm PUTNAM COMPLEX WIDE PROXY a_complexproxydef14a.htm
  UNITED STATES 
  SECURITIES AND EXCHANGE COMMISSION 
  WASHINGTON, DC 20549 
 
  SCHEDULE 14A 
  (RULE 14a-101) 
 
  SCHEDULE 14A INFORMATION 
 
  Proxy Statement Pursuant to Section 14(A) 
  of the Securities Exchange Act of 1934 
 
  Filed by the Registrant / X / 
 
  Filed by a Party other than the Registrant /     / 
 
Check the appropriate box: 
 
/    / Preliminary Proxy Statement. 
/    / Confidential, for use of the Commission Only (as permitted by Rule 14a-6(e) (2)). 
/ X /  Definitive Proxy Statement. 
/    / Definitive Additional Materials. 
/    / Soliciting Material Pursuant to § 240.14a-12. 
 
  PUTNAM AMERICAN GOVERNMENT INCOME FUND 
  PUTNAM ARIZONA TAX EXEMPT INCOME FUND 
  PUTNAM ASSET ALLOCATION FUNDS 
  PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND 
  PUTNAM CONVERTIBLE INCOME-GROWTH TRUST 
  PUTNAM DIVERSIFIED INCOME TRUST 
  PUTNAM EQUITY INCOME FUND 
  PUTNAM EUROPE EQUITY FUND 
  THE PUTNAM FUND FOR GROWTH AND INCOME 
  PUTNAM FUNDS TRUST 
  THE GEORGE PUTNAM FUND OF BOSTON 
  PUTNAM GLOBAL EQUITY FUND 
  PUTNAM GLOBAL HEALTH CARE FUND 
  PUTNAM GLOBAL INCOME TRUST 
  PUTNAM GLOBAL NATURAL RESOURCES FUND 
  PUTNAM GLOBAL UTILITIES FUND 
  PUTNAM HIGH YIELD ADVANTAGE FUND 
  PUTNAM HIGH YIELD TRUST 
  PUTNAM INCOME FUND 
  PUTNAM INTERNATIONAL EQUITY FUND 
  PUTNAM INVESTMENT FUNDS 
  PUTNAM INVESTORS FUND 


PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND 
PUTNAM MICHIGAN TAX EXEMPT INCOME FUND 
PUTNAM MINNESOTA TAX EXEMPT INCOME FUND 
PUTNAM MONEY MARKET FUND
PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND 
PUTNAM NEW OPPORTUNITIES FUND
PUTNAM NEW YORK TAX EXEMPT INCOME FUND 
PUTNAM OHIO TAX EXEMPT INCOME FUND
PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND 
PUTNAM RETIREMENTREADY® FUNDS
PUTNAM TAX EXEMPT INCOME FUND
PUTNAM TAX EXEMPT MONEY MARKET FUND 
PUTNAM TAX-FREE INCOME TRUST
PUTNAM U.S. GOVERNMENT INCOME TRUST
PUTNAM VARIABLE TRUST
PUTNAM VISTA FUND
PUTNAM VOYAGER FUND
 
(Name of Registrant as Specified in its Charter)
 
(Name of Person(s) Filing Proxy Statement,
if Other Than the Registrant)

Payment of Filing Fee (Check the appropriate box): 
 
/ X /  No fee required. 
 
/    /  Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. 
  (1) Title of each class of securities to which transaction applies: 
  (2) Aggregate number of securities to which transaction applies: 
  (3) Per unit price or other underlying value of transaction 
computed pursuant to Exchange Act Rule 0-11 (set forth the
amount on which the filing fee is calculated and state how it
  was determined): 
  (4) Proposed maximum aggregate value of transaction: 
  (5) Total fee paid: 
 
/    /  Fee paid previously with preliminary materials. 
 
/    /  Check box if any part of the fee is offset as provided by Exchange Act Rule 
  0-11(a)(2) and identify the filing for which the offsetting fee was paid 
  previously. Identify the previous filing by registration statement 
  number, or the form or schedule and the date of its filing. 
  (1) Amount Previously Paid: 
  (2) Form, Schedule or Registration Statement No.: 


(3) Filing Party: 
(4) Date Filed: 




A message from Putnam Investments and
the Board of Trustees of the Putnam Funds

Dear Fellow Shareholder:

We are writing to ask you for your vote on important matters affecting your investment in the Putnam Funds. The Putnam Funds will hold a shareholder meeting on November 19, 2009, in Boston, Massachusetts, to decide several proposals. While you are welcome to attend in person, the vast majority of shareholders vote by “proxy,” which means they give instructions to persons designated by their fund’s Board of Trustees to vote on their behalf.

Please vote today on the following proposals:

1. Election of Trustees (pages 4–11) The Putnam Funds’ Board of Trustees is responsible for overseeing the operation of the Putnam funds and for assuring that each fund is managed in the best interests of its shareholders. All but one of the Trustees are independent of Putnam Investments. All of the current Trustees work on your behalf and are up for re-election. We recommend you vote to elect all Trustees.

2. Shareholder-friendly changes to Putnam fund management fees (pages 12–20) As a Putnam fund shareholder, you typically pay a management fee that covers key services such as portfolio management, securities trading, and accounting. The management fee typically represents the single largest component of a fund’s total expenses. New management contracts are being proposed for virtually all funds that include the following fee changes:

»» Lower management fees The changes will result in reduced management fees for virtually all Putnam funds, including significantly lower management fees for fixed-income and asset allocation funds.

»» Fund family breakpoints Asset-level discounts for management fees will be based on the growth of all Putnam mutual fund assets, rather than an individual Putnam fund’s assets. This change will allow shareholders to benefit from the growth of the Putnam fund family as a whole, even if their specific fund is not growing.

»» Performance fees on U.S. growth funds, international funds, and Putnam Global Equity Fund Each of these equity funds will have performance fees reflecting the strength or weakness of the fund’s investment performance. Management fees for these funds will decline from their standard fee if the funds underperform their benchmarks and will rise if the funds outperform.

We recommend you vote for the proposed new management contracts.

3. Updating investment restrictions of certain funds (pages 20–25) Several different fund-specific proposals are included in this section. All involve updating and standardizing investment restrictions in certain areas to provide portfolio managers with added investment flexibility, as well as to reduce administrative and compliance burdens for the funds. We recommend you vote to update and standardize these investment restrictions.


4. Modernizing trust provisions of certain funds (pages 25–26) The organizational, or “trust,” documents established many years ago for a small number of Putnam funds differ from those of most Putnam funds today. We recommend you vote to modernize these trust provisions.

Shareholders of two funds will also be asked to vote on a shareholder-submitted proposal.

Please vote today

Delaying your vote will increase fund expenses if further mailings are required. If you complete your proxy card, your shares will be voted on your behalf exactly as you have instructed. If you simply sign the proxy card, your shares will be voted in accordance with the Trustees’ recommendations.

We appreciate your attention to these important matters. If you have questions about the proposals, please call a Putnam customer service representative at 1-866-451-3787 or contact your financial advisor.





A message from Putnam Investments and
the Board of Trustees of the Putnam Funds

Dear Fellow Shareholder:

We are writing to ask you for your vote on important matters affecting your investment in the Putnam Funds. The Putnam Funds will hold a shareholder meeting on November 19, 2009, in Boston, Massachusetts, to decide several proposals. While you are welcome to attend in person, the vast majority of shareholders vote by “proxy,” which means they give instructions to persons designated by their fund’s Board of Trustees to vote on their behalf.

Please vote today on the following proposals:

1. Election of Trustees (pages 4–11) The Putnam Funds’ Board of Trustees is responsible for overseeing the operation of the Putnam funds and for assuring that each fund is managed in the best interests of its shareholders. All but one of the Trustees are independent of Putnam Investments. All of the current Trustees work on your behalf and are up for re-election. We recommend you vote to elect all Trustees.

2. Shareholder-friendly changes to Putnam fund management fees (pages 12–20) As a Putnam fund shareholder, you typically pay a management fee that covers key services such as portfolio management, securities trading, and accounting. The management fee typically represents the single largest component of a fund’s total expenses. New management contracts are being proposed for virtually all funds that include the following fee changes:

» Lower management fees The changes will result in reduced management fees for virtually all Putnam funds, including significantly lower management fees for fixed-income and asset allocation funds.

» Fund family breakpoints Asset-level discounts for management fees will be based on the growth of all Putnam mutual fund assets, rather than an individual Putnam fund’s assets. This change will allow shareholders to benefit from the growth of the Putnam fund family as a whole, even if their specific fund is not growing.

» Performance fees on U.S. growth funds, international funds, and Putnam Global Equity Fund Each of these equity funds will have performance fees reflecting the strength or weakness of the fund’s investment performance. Management fees for these funds will decline from their standard fee if the funds underperform their benchmarks and will rise if the funds outperform.

We recommend you vote for the proposed new management contracts.

3. Updating investment restrictions of certain funds (pages 20–25) Several different fund-specific proposals are included in this section. All involve updating and standardizing investment restrictions in certain areas to provide portfolio managers with added investment flexibility, as well as to reduce administrative and compliance burdens for the funds. We recommend you vote to update and standardize these investment restrictions.


4. Modernizing trust provisions of certain funds (pages 25–26) The organizational, or “trust,” documents established many years ago for a small number of Putnam funds differ from those of most Putnam funds today. We recommend you vote to modernize these trust provisions.

Shareholders of two funds will also be asked to vote on a shareholder-submitted proposal.

Please vote today

Delaying your vote will increase fund expenses if further mailings are required. If you complete your proxy card, your shares will be voted on your behalf exactly as you have instructed. If you simply sign the proxy card, your shares will be voted in accordance with the Trustees’ recommendations.

We appreciate your attention to these important matters. If you have questions about the proposals, please call a Putnam customer service representative at 1-866-451-3787 or contact your financial advisor.





Table of contents

Notice of a Special Meeting of Shareholders  1 
Trustees’ Recommendations  4 
Proposal 1: Election of Trustees  4 
Proposal 2: Proposed New Management Contract  12 
Proposal 3.A.: Fundamental Investment Restriction   
Amendment – Commodities  20 
Proposal 3.B.: Fundamental Investment Restriction   
Amendment – Diversification  22 
Proposal 3.C.: Fundamental Investment Restriction   
Amendment – Acquisition of Voting Securities  23 
Proposal 3.D.: Fundamental Investment Restriction   
Amendment – Borrowing  23 
Proposal 3.E.: Fundamental Investment Restriction   
Amendment – Making Loans  24 
Proposal 4.A.: Declaration of Trust Amendment –   
Duration of Trust  25 
Proposal 4.B.: Declaration of Trust Amendment –   
Redemption at Option of Trust  26 
Proposal 5: Shareholder Proposal  26 
Further Information About Voting and the   
Special Meeting  28 
Fund Information  31 
Appendix A — Number of Shares Outstanding as of   
the Record Date  A-1 
Appendix B — Dollar Range and Number of Shares   
Beneficially Owned  B-1 
Appendix C — Trustee Compensation Table  C-1 
Appendix D — Forms of Proposed   
Management Contract  D-1 
Appendix E — Current Fee Schedule  E-1 
Appendix F — Proposed Fee Schedules  F-1 
Appendix G — Proposed Benchmarks  G-1 
Appendix H — Funds Proposed to Change to   
Monthly Management Fees  H-1 
Appendix I — Description of Contract   
Approval Process  I-1 
Appendix J — Management Contracts: Terms,   
Dates, and Approvals  J-1 
Appendix K — Comparative Expense Tables  K-1 

Appendix L — Comparison of Management Fees  L-1 
Appendix M — Current Fundamental Investment   
Restrictions with Respect to Investments   
in Commodities  M-1 
Appendix N — Current Fundamental Investment   
Restrictions with Respect to Diversification   
of Investments  N-1 
Appendix O — Current Fundamental Investment   
Restrictions with Respect to Borrowing  O-1 
Appendix P — Current Declaration of Trust Provisions   
with Respect to the Duration of the Trust  P-1 
Appendix Q — Independent Public Accountants  Q-1 
Appendix R — Other Similar Funds Advised by   
Putnam Management  R-1 
Appendix S — Payments to Putnam Management   
and its Affiliates  S-1 
Appendix T — 5% Beneficial Ownership  T-1 

PROXY CARD(S) ENCLOSED

If you have any questions, please contact us at 1-866-451-3787 or call your financial advisor.

Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to be Held on November 19, 2009.

The proxy statement is available at
https://www.proxyweb.com/Putnam.


Notice of a Special Meeting of Shareholders

To the Shareholders of:

PUTNAM AMERICAN GOVERNMENT INCOME FUND 
PUTNAM ARIZONA TAX EXEMPT INCOME FUND 
PUTNAM ASSET ALLOCATION FUNDS 
   PUTNAM ASSET ALLOCATION: BALANCED PORTFOLIO 
   PUTNAM ASSET ALLOCATION: CONSERVATIVE 
         PORTFOLIO 
   PUTNAM ASSET ALLOCATION: GROWTH PORTFOLIO 
PUTNAM CALIFORNIA TAX EXEMPT INCOME FUND 
PUTNAM CONVERTIBLE INCOME-GROWTH TRUST 
PUTNAM DIVERSIFIED INCOME TRUST 
PUTNAM EQUITY INCOME FUND 
PUTNAM EUROPE EQUITY FUND 
THE PUTNAM FUND FOR GROWTH AND INCOME 
PUTNAM FUNDS TRUST 
   PUTNAM ABSOLUTE RETURN 100 FUND 
   PUTNAM ABSOLUTE RETURN 300 FUND 
   PUTNAM ABSOLUTE RETURN 500 FUND 
   PUTNAM ABSOLUTE RETURN 700 FUND 
   PUTNAM ASIA PACIFIC EQUITY FUND 
   PUTNAM ASSET ALLOCATION: EQUITY PORTFOLIO 
   PUTNAM CAPITAL SPECTRUM FUND 
   PUTNAM EMERGING MARKETS EQUITY FUND 
   PUTNAM EQUITY SPECTRUM FUND 
   PUTNAM FLOATING RATE INCOME FUND 
   PUTNAM GLOBAL CONSUMER FUND 
   PUTNAM GLOBAL ENERGY FUND 
   PUTNAM GLOBAL FINANCIALS FUND 
   PUTNAM GLOBAL INDUSTRIALS FUND 
   PUTNAM GLOBAL TECHNOLOGY FUND 
   PUTNAM GLOBAL TELECOMMUNICATIONS FUND 
   PUTNAM INCOME STRATEGIES FUND 
   PUTNAM INTERNATIONAL GROWTH AND INCOME FUND 
   PUTNAM MONEY MARKET LIQUIDITY FUND 
   PUTNAM SMALL CAP GROWTH FUND 
THE GEORGE PUTNAM FUND OF BOSTON 
PUTNAM GLOBAL EQUITY FUND 
PUTNAM GLOBAL HEALTH CARE FUND 
PUTNAM GLOBAL INCOME TRUST 
PUTNAM GLOBAL NATURAL RESOURCES FUND 
PUTNAM GLOBAL UTILITIES FUND 
PUTNAM HIGH YIELD ADVANTAGE FUND 
PUTNAM HIGH YIELD TRUST 
PUTNAM INCOME FUND 
PUTNAM INTERNATIONAL EQUITY FUND 
PUTNAM INVESTMENT FUNDS 
   PUTNAM CAPITAL OPPORTUNITIES FUND 
   PUTNAM GROWTH OPPORTUNITIES FUND 
   PUTNAM INTERNATIONAL CAPITAL 
         OPPORTUNITIES FUND 

   PUTNAM INTERNATIONAL NEW OPPORTUNITIES FUND 
   PUTNAM MID CAP VALUE FUND 
   PUTNAM RESEARCH FUND 
   PUTNAM SMALL CAP VALUE FUND 
PUTNAM INVESTORS FUND 
PUTNAM MASSACHUSETTS TAX EXEMPT INCOME FUND 
PUTNAM MICHIGAN TAX EXEMPT INCOME FUND 
PUTNAM MINNESOTA TAX EXEMPT INCOME FUND 
PUTNAM MONEY MARKET FUND 
PUTNAM NEW JERSEY TAX EXEMPT INCOME FUND 
PUTNAM NEW OPPORTUNITIES FUND 
PUTNAM NEW YORK TAX EXEMPT INCOME FUND 
PUTNAM OHIO TAX EXEMPT INCOME FUND 
PUTNAM PENNSYLVANIA TAX EXEMPT INCOME FUND 
PUTNAM RETIREMENTREADY® FUNDS 
   PUTNAM RETIREMENTREADY 2010 FUND 
   PUTNAM RETIREMENTREADY 2015 FUND 
   PUTNAM RETIREMENTREADY 2020 FUND 
   PUTNAM RETIREMENTREADY 2025 FUND 
   PUTNAM RETIREMENTREADY 2030 FUND 
   PUTNAM RETIREMENTREADY 2035 FUND 
   PUTNAM RETIREMENTREADY 2040 FUND 
   PUTNAM RETIREMENTREADY 2045 FUND 
   PUTNAM RETIREMENTREADY 2050 FUND 
   PUTNAM RETIREMENTREADY MATURITY FUND 
PUTNAM TAX EXEMPT INCOME FUND 
PUTNAM TAX EXEMPT MONEY MARKET FUND 
PUTNAM TAX-FREE INCOME TRUST 
   PUTNAM AMT-FREE MUNICIPAL FUND 
   PUTNAM TAX-FREE HIGH YIELD FUND 
PUTNAM U.S. GOVERNMENT INCOME TRUST 
PUTNAM VARIABLE TRUST 
   PUTNAM VT AMERICAN GOVERNMENT INCOME FUND 
   PUTNAM VT CAPITAL OPPORTUNITIES FUND 
   PUTNAM VT DIVERSIFIED INCOME FUND 
   PUTNAM VT EQUITY INCOME FUND 
   PUTNAM VT THE GEORGE PUTNAM FUND OF BOSTON 
   PUTNAM VT GLOBAL ASSET ALLOCATION FUND 
   PUTNAM VT GLOBAL EQUITY FUND 
   PUTNAM VT GLOBAL HEALTH CARE FUND 
   PUTNAM VT GLOBAL UTILITIES FUND 
   PUTNAM VT GROWTH AND INCOME FUND 
   PUTNAM VT GROWTH OPPORTUNITIES FUND 
   PUTNAM VT HIGH YIELD FUND 
   PUTNAM VT INCOME FUND 
   PUTNAM VT INTERNATIONAL EQUITY FUND 
   PUTNAM VT INTERNATIONAL GROWTH AND 
         INCOME FUND 
   PUTNAM VT INTERNATIONAL NEW 
         OPPORTUNITIES FUND 
   PUTNAM VT INVESTORS FUND 
   PUTNAM VT MID CAP VALUE FUND 
   PUTNAM VT MONEY MARKET FUND 

1


   PUTNAM VT NEW OPPORTUNITIES FUND 
   PUTNAM VT RESEARCH FUND 
   PUTNAM VT SMALL CAP VALUE FUND 
   PUTNAM VT VISTA FUND 
   PUTNAM VT VOYAGER FUND 
PUTNAM VISTA FUND 
PUTNAM VOYAGER FUND 

This is the formal agenda for your fund’s shareholder meeting. It tells you what proposals will be voted on and the time and place of the meeting, in the event you attend in person.

A Special Meeting of Shareholders of your fund will be held on November 19, 2009 at 11:00 a.m., Boston time, at the principal offices of the funds on the 8th floor of One Post Office Square, Boston, Massachusetts 02109, to consider the following proposals, in each case as applicable to the particular funds listed in the table below:

1. Electing Trustees;

2. Approving a proposed new management contract for most funds;

3.A. Approving an amendment to certain funds’ fundamental investment restrictions with respect to investments in commodities;

3.B. Approving an amendment to certain funds’ fundamental investment restrictions with respect to diversification of investments;

3.C. Approving an amendment to certain funds’ fundamental investment restrictions with respect to the acquisition of voting securities;

3.D. Approving an amendment to certain funds’ fundamental investment restrictions with respect to borrowing;

3.E. Approving an amendment to certain funds’ fundamental investment restrictions with respect to making loans;

4.A. Approving an amendment to certain funds’ agreements and declarations of trust with respect to the duration of the trust;

4.B. Approving an amendment to certain funds’ agreements and declarations of trust with respect to redemption at the option of the trust; and

5. Considering a shareholder proposal for two funds requesting that the Board institute procedures to prevent the funds from holding investments in companies that, in the judgment of the Board, substantially contribute to genocide or crimes against humanity.

By Judith Cohen, Clerk, and by the Trustees

John A. Hill, Chairman
Jameson A. Baxter, Vice Chairman

Ravi Akhoury  Kenneth R. Leibler 
Charles B. Curtis  Robert E. Patterson 
Robert J. Darretta  George Putnam, III 
Myra R. Drucker  Robert L. Reynolds 
Paul L. Joskow  W. Thomas Stephens 
Elizabeth T. Kennan  Richard B. Worley 

In order for you to be represented at your fund’s shareholder meeting, we urge you to record your voting instructions via the Internet or by telephone or to mark, sign, date, and mail the enclosed proxy in the postage-paid envelope provided.

September 14, 2009

The following table indicates which proposals are being considered by shareholders of each fund.

Proposal  Proposal Description  Affected Funds  Page 
1.  Election of Trustees  All funds  4 
2.  Approving a proposed new management contract  All funds* except Putnam RetirementReady® Funds and Putnam  12 
  for most funds  Money Market Liquidity Fund   
    *As described in more detail in Proposal 2, shareholders of the   
following funds:
    Putnam Asia Pacific Equity Fund   
    Putnam Emerging Markets Equity Fund   
    Putnam Europe Equity Fund   
    Putnam Global Equity Fund   
    Putnam Growth Opportunities Fund   
    Putnam International Capital Opportunities Fund   
    Putnam International Equity Fund   
    Putnam International Growth and Income Fund   
    Putnam International New Opportunities Fund   
    Putnam New Opportunities Fund   
    Putnam Small Cap Growth Fund   
Putnam Vista Fund
    Putnam Voyager Fund   
 
    are being asked to approve a proposed new management contract   
    that includes both Fund Family breakpoints and performance fees.   
    In addition, shareholders of these 13 funds also are being asked to   
    approve proposed new management contracts that have each, but not   
    both, Fund Family breakpoints and performance fees separately. The   
    Trustees recommend that shareholders of these funds vote FOR each   
    of the three alternatives, but intend to implement a new management   
    contract that includes both Fund Family breakpoints and performance   
    fees if that alternative is approved by shareholders.   

2


Proposal  Proposal Description  Affected Funds  Page 
3.A.  Approving an amendment to certain funds’  Putnam Absolute Return 100 Fund  20 
  fundamental investment restrictions with respect  Putnam Absolute Return 300 Fund   
  to investments in commodities  Putnam Absolute Return 500 Fund   
    Putnam Absolute Return 700 Fund   
    Putnam Asia Pacific Equity Fund   
    Putnam Asset Allocation: Balanced Portfolio   
    Putnam Asset Allocation: Conservative Portfolio   
    Putnam Asset Allocation: Equity Portfolio   
    Putnam Asset Allocation: Growth Portfolio   
    Putnam Capital Spectrum Fund   
    Putnam Emerging Markets Equity Fund   
    Putnam Equity Spectrum Fund   
    Putnam Global Consumer Fund   
    Putnam Global Energy Fund   
    Putnam Global Financials Fund   
    Putnam Global Health Care Fund   
    Putnam Global Industrials Fund   
    Putnam Global Natural Resources Fund   
    Putnam Global Technology Fund   
    Putnam Global Telecommunications Fund   
    Putnam Global Utilities Fund   
    Putnam Income Strategies Fund   
    Putnam VT Global Asset Allocation Fund   
    Putnam VT Global Health Care Fund   
    Putnam VT Global Utilities Fund   
3.B.  Approving an amendment to certain funds’  Putnam Europe Equity Fund  22 
  fundamental investment restrictions with respect  Putnam Global Utilities Fund   
  to diversification of investments  Putnam Growth Opportunities Fund   
    Putnam International Capital Opportunities Fund   
    Putnam International Equity Fund   
    Putnam New Opportunities Fund   
3.C.  Approving an amendment to certain funds’  Putnam Global Natural Resources Fund  23 
  fundamental investment restrictions with respect  Putnam Global Utilities Fund   
  to the acquisition of voting securities     
3.D.  Approving an amendment to certain funds’  Putnam Europe Equity Fund  23 
  fundamental investment restrictions with respect  Putnam Global Natural Resources Fund   
  to borrowing  Putnam Growth Opportunities Fund   
    Putnam International Capital Opportunities Fund   
    Putnam International Equity Fund   
    Putnam New Jersey Tax Exempt Income Fund   
    Putnam New Opportunities Fund   
Putnam Vista Fund
3.E.  Approving an amendment to certain funds’  Putnam Europe Equity Fund  24 
  fundamental investment restrictions with respect  Putnam Global Natural Resources Fund   
  to making loans  Putnam Growth Opportunities Fund   
    Putnam International Capital Opportunities Fund   
    Putnam International Equity Fund   
    Putnam New Jersey Tax Exempt Income Fund   
    Putnam New Opportunities Fund   
Putnam Vista Fund
4.A.  Approving an amendment to certain funds’  The Putnam Fund for Growth and Income  25 
  agreements and declarations of trust with respect  The George Putnam Fund of Boston   
  to the duration of the trust  Putnam Money Market Fund   
    Putnam Tax Exempt Income Fund   
4.B.  Approving an amendment to certain funds’  The Putnam Fund for Growth and Income  26 
  agreements and declarations of trust with respect  The George Putnam Fund of Boston   
  to redemption at the option of the trust     
5.  Considering a shareholder proposal for two funds  Putnam Asset Allocation: Growth Portfolio  26 
  requesting that the Board institute procedures  Putnam Voyager Fund   
  to prevent the funds from holding investments     
  in companies that, in the judgment of the Board,     
  substantially contribute to genocide or crimes     
  against humanity     

3


Proxy Statement

This document will give you the information you need to vote on the proposals. Much of the information is required under rules of the Securities and Exchange Commission (“SEC”); some of it is technical. If there is anything you don’t understand, please contact us at our toll-free number, 1-866-451-3787, or call your financial advisor.

When you record your voting instructions via the Internet or telephone, or when you complete and sign your proxy card, your shares will be voted on your behalf exactly as you have instructed. If you simply sign the proxy card, your shares will be voted in accordance with the Trustees’ recommendations.

Who is asking for your proxy?

Your proxy is being solicited by the Trustees of the Putnam funds for use at the Special Meeting of Shareholders of each fund to be held on November 19, 2009 and, if your fund’s meeting is adjourned, at any later meetings, for the purposes stated in the Notice of a Special Meeting of Shareholders (see previous pages). The Notice of a Special Meeting of Shareholders, the enclosed proxy card and this proxy statement are being mailed on or about September 14, 2009.

How do your fund’s Trustees recommend that shareholders vote on the proposals?

The Trustees recommend that you vote FOR all proposals except Proposal 5.

Please see the table beginning on page 2 for a list of the affected funds for each proposal.

Who is eligible to vote?

Shareholders of record of each fund at the close of business on August 24, 2009 (the “Record Date”) are entitled to be present and to vote at the meeting or any adjourned meeting.

The number of shares of each fund outstanding on the Record Date is shown in Appendix A. Each share is entitled to one vote, with fractional shares voting proportionately. Shares represented by a duly executed proxy will be voted in accordance with your instructions. If a duly executed proxy is submitted without filling in a vote on a proposal, your shares will be voted in accordance with the Trustees’ recommendations. If any other business is brought before your fund’s meeting, your shares will be voted at the discretion of the persons designated on the proxy card.

Shareholders of each fund vote separately with respect to each proposal other than with respect to the election of Trustees, in which case shareholders of each series of a trust vote together as a single class. The name of each trust is indicated in bold on pages 1-2 of this proxy statement, with the funds that are series of that trust appearing below its name. The outcome of a vote affecting one fund does not affect any other fund, except where series of a trust vote together as a single class. However, as described below under Proposal 2, if shareholders of a significant number of funds do not approve the proposed new management contracts, the Independent Trustees and Putnam Investment Management, LLC (“Putnam Management”) currently intend to leave the current management contracts in place for all funds and will consider such other actions as may be appropriate in the circumstances. The Independent Truste es and Putnam Management may also determine not to implement the proposed new contract, even though approved by shareholders, under various circumstances described under Proposal 2. No proposal is contingent upon the outcome of any other proposal.

The Proposals

1. ELECTING TRUSTEES

Who are the nominees for Trustees?

The Board Policy and Nominating Committee of the Trustees of the fund makes recommendations concerning the nominees for Trustees of your fund. The Board Policy and Nominating Committee consists solely of Trustees who are not “interested persons” (as defined in the Investment Company Act of 1940, as amended (the “1940 Act”)) of your fund or of Putnam Management. Those Trustees who are not “interested persons” of your fund or Putnam Management are referred to as “Independent Trustees” throughout this proxy statement.

The Board of Trustees, based on the recommendation of the Board Policy and Nominating Committee, has fixed the number of Trustees of your fund at 14 and recommends that you vote for the election of the nominees described in the following pages. Each nominee is currently a Trustee of your fund and of the other Putnam funds.

Your fund does not regularly hold an annual shareholder meeting, but may from time to time schedule a special meeting. In addition, your fund has voluntarily undertaken to hold a shareholder meeting at least every five years for the purpose of electing your fund’s Trustees. The last such meeting was held in 2004, and the next such meeting is expected to be held in 2014.

The nominees for Trustees and their backgrounds are shown in the following pages. This information includes each nominee’s name, year of birth, principal occupation(s) during the past 5 years, and other information about the nominee’s professional background, including other directorships the nominee holds. Each Trustee oversees all of the Putnam funds and serves until the election and qualification of his or her successor, or until he or she sooner dies, resigns, retires, or is removed. The address of all of the Trustees is One Post Office Square, Boston, Massachusetts 02109. At June 30, 2009, there were 104 Putnam funds.

4


Independent Trustees


Ravi Akhoury (Born 1947)
Trustee since 2009

Mr. Akhoury serves as Advisor to New York Life Insurance Company. He is also a Director of Jacob Ballas Capital India (a non-banking finance company focused on private equity advisory services). He also serves as a Trustee of American India Foundation and of the Rubin Museum.

Previously, Mr. Akhoury was a Director of MaxIndia/New York Life Insurance Company in India. He was also Vice President of Fischer, Francis, Trees and Watts (a fixed-income portfolio management firm). He has also served on the Board of Bharti Telecom (an Indian telecommunications company), and on the Board of Thompson Press (a publishing company). From 1992 to 2007, he was Chairman and CEO of MacKay Shields, a multi-product investment management firm with over $40 billion in assets under management.

Mr. Akhoury graduated from the Indian Institute of Technology with a B.S. in Engineering and obtained an M.S. in Quantitative Methods from SUNY at Stony Brook.


Jameson A. Baxter (Born 1943)
Trustee since 1994 and Vice Chairman
since 2005

Ms. Baxter is the President of Baxter Associates, Inc., a private investment firm.

Ms. Baxter serves as a Director of ASHTA Chemicals, Inc., and the Mutual Fund Directors Forum. Until 2007, she was a Director of Banta Corporation (a printing and supply chain management company), Ryerson, Inc. (a metals service corporation), and Advocate Health Care. Until 2004, she was a Director of BoardSource (formerly the National Center for Nonprofit Boards), and until 2002, she was a Director of Intermatic Corporation (a manufacturer of energy control products). She is Chairman Emeritus of the Board of Trustees of Mount Holyoke College, having served as Chairman for five years.

Ms. Baxter has held various positions in investment banking and corporate finance, including Vice President of and Consultant to First Boston Corporation and Vice President and Principal of the Regency Group. She is a graduate of Mount Holyoke College.


Charles B. Curtis (Born 1940)
Trustee since 2001

Mr. Curtis is President and Chief Operating Officer of the Nuclear Threat Initiative (a private foundation dealing with national security issues), and serves as Senior Advisor to the United Nations Foundation.

Mr. Curtis is a member of the Council on Foreign Relations and the National Petroleum Council. He also serves as Director of Edison International and Southern California Edison. Until 2006, Mr. Curtis served as a member of the Trustee Advisory Council of the Applied Physics Laboratory, Johns Hopkins University.

From August 1997 to December 1999, Mr. Curtis was a Partner at Hogan & Hartson LLP, an international law firm headquartered in Washington, D.C. Prior to May 1997, Mr. Curtis was Deputy Secretary of Energy and Under Secretary of the U.S. Department of Energy. He was a founding member of the law firm Van Ness Feldman. Mr. Curtis served as Chairman of the Federal Energy Regulatory Commission from 1977 to 1981 and has held positions on the staff of the U.S. House of Representatives, the U.S. Treasury Department, and the Securities and Exchange Commission.

Robert J. Darretta (Born 1946)
Trustee since 2007

Mr. Darretta serves as Director of United-Health Group, a diversified health-care company.

Until April 2007, Mr. Darretta was Vice Chairman of the Board of Directors of Johnson & Johnson, one of the world’s largest and most broadly based health-care companies. Prior to 2007, he had responsibility for Johnson & Johnson’s finance, investor relations, information technology, and procurement function. He served as Johnson & Johnson Chief Financial Officer for a decade, prior to which he spent two years as Treasurer of the corporation and over ten years leading various Johnson & Johnson operating companies.

Mr. Darretta received a B.S. in Economics from Villanova University.

Myra R. Drucker (Born 1948)
Trustee since 2004

Ms. Drucker is Chair of the Board of Trustees of Commonfund (a not-for-profit firm managing assets for educational endowments and foundations), Vice Chair of the Board of Trustees of Sarah Lawrence College, and a member of the Investment Committee of the Kresge Foundation (a charitable trust). She is also a Director of Interactive Data Corporation (a provider of financial market data and analytics to financial institutions and investors).

Ms. Drucker is an ex-officio member of the New York Stock Exchange Pension Managers Advisory Committee, having served as Chair for seven years. She serves as an advisor to RCM Capital Management (an investment management firm) and to the Employee Benefits Investment Committee of The Boeing Company (an aerospace firm).

From November 2001 until August 2004, Ms. Drucker was Managing Director and a member of the Board of Directors of General Motors Asset Management and Chief Investment Officer of General Motors Trust Bank. From December 1992 to November 2001, Ms. Drucker served as Chief Investment Officer of Xerox Corporation (a document company). Prior to December 1992, Ms. Drucker was Staff Vice President and

5


Director of Trust Investments for International Paper (a paper and packaging company).

Ms. Drucker received a B.A. degree in Literature and Psychology from Sarah Lawrence College and pursued graduate studies in economics, statistics, and portfolio theory at Temple University.


John A. Hill (Born 1942)
Trustee since 1985 and Chairman since 2000

Mr. Hill is founder and Vice-Chairman of First Reserve Corporation, the leading private equity buyout firm specializing in the worldwide energy industry, with offices in Greenwich, Connecticut; Houston, Texas; London, England; and Shanghai, China. The firm’s investments on behalf of some of the nation’s largest pension and endowment funds are currently concentrated in 31 companies with annual revenues in excess of $15 billion, which employ over 100,000 people in 23 countries.

Mr. Hill is Chairman of the Board of Trustees of the Putnam Funds, a Director of Devon Energy Corporation and various private companies owned by First Reserve, and serves as a Trustee of Sarah Lawrence College where he serves as Chairman and also chairs the Investment Committee. He is also a member of the Advisory Board of the Millstein Center for Corporate Governance and Performance at the Yale School of Management.

Prior to forming First Reserve in 1983, Mr. Hill served as President of F. Eberstadt and Company, an investment banking and investment management firm. Between 1969 and 1976, Mr. Hill held various senior positions in Washington, D.C. with the federal government, including Deputy Associate Director of the Office of Management and Budget and Deputy Administrator of the Federal Energy Administration during the Ford Administration.

Born and raised in Midland, Texas, he received his B.A. in Economics from Southern Methodist University and pursued graduate studies as a Woodrow Wilson Fellow.


Paul L. Joskow (Born 1947)
Trustee since 1997

Dr. Joskow is an economist and President of the Alfred P. Sloan Foundation (a philanthropic institution focused primarily on research and education on issues related to science, technology, and economic performance). He is on leave from his position as the Elizabeth and James Killian Professor of Economics and Management at the Massachusetts Institute of Technology (MIT), where he has been on the faculty since 1972. Dr. Joskow was the Director of the Center for Energy and Environmental Policy Research at MIT from 1999 through 2007.

Dr. Joskow serves as a Trustee of Yale University, as a Director of TransCanada Corporation (an energy company focused on natural gas transmission and power services) and of Exelon Corporation (an energy company focused on power services), and as a member of the Board of Overseers of the Boston Symphony Orchestra. Prior to August 2007, he served as a Director of National Grid (a UK-based holding company with interests in electric and gas transmission and distribution and telecommunications infrastructure). Prior to July 2006, he served as President of the Yale University Council. Prior to February 2005, he served on the board of the Whitehead Institute for Biomedical Research (a non-profit research institution). Prior to February 2002, he was a Director of State Farm Indemnity Company (an automobile insurance company), and prior to March 2000, he was a Director of New England Electric System (a public utility holding company).

Dr. Joskow has published six books and numerous articles on industrial organization, government regulation of industry, and competition policy. He is active in industry restructuring, environmental, energy, competition, and privatization policies — serving as an advisor to governments and corporations worldwide. Dr. Joskow holds a Ph.D. and M.Phil. from Yale University and a B.A. from Cornell University.

Elizabeth T. Kennan (Born 1938)
Trustee since 1992

Dr. Kennan is a Partner of Cambus-Kenneth Farm (thoroughbred horse and cattle breeding). She is President Emeritus of Mount Holyoke College.

Dr. Kennan served as Chairman and is now Lead Director of Northeast Utilities. She is a Trustee of the National Trust for Historic Preservation and of Centre College. Until 2006, she was a member of The Trustees of Reservations. Prior to 2001, Dr. Kennan served on the oversight committee of the Folger Shakespeare Library. Prior to June 2005, she was a Director of Talbots, Inc., and she has served as Director on a number of other boards, including Bell Atlantic, Chastain Real Estate, Shawmut Bank, Berkshire Life Insurance, and Kentucky Home Life Insurance. Dr. Kennan has also served as President of Five Colleges Incorporated and as a Trustee of Notre Dame University, and is active in various educational and civic associations.

As a member of the faculty of Catholic University for twelve years, until 1978, Dr. Kennan directed the post-doctoral program in Patristic and Medieval Studies, taught history, and published numerous articles and two books. Dr. Kennan holds a Ph.D. from the University of Washington in Seattle, an M.A. from Oxford University, and an A.B. from Mount Holyoke College. She holds several honorary doctorates.

Kenneth R. Leibler (Born 1949)
Trustee since 2006

Mr. Leibler is a founder and former Chairman of the Boston Options Exchange, an electronic marketplace for the trading of derivative securities.

Mr. Leibler currently serves as a Trustee of Beth Israel Deaconess Hospital in Boston. He is also Lead Director of Ruder Finn Group, a global communications and advertising firm, and a Director of Northeast Utilities, which operates New England’s largest

6 


energy delivery system. Prior to December 2006, he served as a Director of the Optimum Funds group. Prior to October 2006, he served as a Director of ISO New England, the organization responsible for the operation of the electric generation system in the New England states. Prior to 2000, Mr. Leibler was a Director of the Investment Company Institute in Washington, D.C.

Prior to January 2005, Mr. Leibler served as Chairman and Chief Executive Officer of the Boston Stock Exchange. Prior to January 2000, he served as President and Chief Executive Officer of Liberty Financial Companies, a publicly traded diversified asset management organization. Prior to June 1990, Mr. Leibler served as President and Chief Operating Officer of the American Stock Exchange (AMEX), and at the time was the youngest person in AMEX history to hold the title of President. Prior to serving as AMEX President, he held the position of Chief Financial Officer, and headed its management and marketing operations. Mr. Leibler graduated with a degree in Economics from Syracuse University.


Robert E. Patterson (Born 1945)
Trustee since 1984

Mr. Patterson is Senior Partner of Cabot Properties, LP and Chairman of Cabot Properties, Inc. (a private equity firm investing in commercial real estate).

Mr. Patterson serves as Chairman Emeritus and Trustee of the Joslin Diabetes Center. Prior to June 2003, he was a Trustee of the Sea Education Association. Prior to December 2001, Mr. Patterson was President and Trustee of Cabot Industrial Trust (a publicly traded real estate investment trust). Prior to February 1998, he was Executive Vice President and Director of Acquisitions of Cabot Partners Limited Partnership (a registered investment adviser involved in institutional real estate investments). Prior to 1990, he served as Executive Vice President of Cabot, Cabot & Forbes Realty Advisors, Inc. (the predecessor company of Cabot Partners).

Mr. Patterson practiced law and held various positions in state government, and was the founding Executive Director of the Massachusetts Industrial Finance Agency. Mr. Patterson is a graduate of Harvard College and Harvard Law School.


George Putnam, III (Born 1951)
Trustee since 1984

Mr. Putnam is Chairman of New Generation Research, Inc. (a publisher of financial advisory and other research services), and President of New Generation Advisors, LLC (a registered investment adviser to private funds). Mr. Putnam founded the New Generation companies in 1986.

Mr. Putnam is a Director of The Boston Family Office, LLC (a registered investment adviser). He is a Trustee of St. Mark’s School, a Trustee of Epiphany School and a Trustee of the Marine Biological Laboratory in Woods Hole, Massachusetts. Until 2006, he was a Trustee of Shore Country Day School, and until 2002, was a Trustee of the Sea Education Association.

Mr. Putnam previously worked as an attorney with the law firm of Dechert LLP (formerly known as Dechert Price & Rhoads) in Philadelphia. He is a graduate of Harvard College, Harvard Business School, and Harvard Law School.

W. Thomas Stephens (Born 1942)
Trustee since 2009

Mr. Stephens is a Director of TransCanada Pipelines, Ltd. (an energy infrastructure company).

From 1997 to 2008, Mr. Stephens served as a Trustee on the Board of the Putnam Funds, which he rejoined as a Trustee in 2009. Until 2004, Mr. Stephens was a Director of Xcel Energy Incorporated (a public utility company), Qwest Communications and Norske Canada, Inc. (a paper manufacturer). Until 2003, Mr. Stephens was a Director of Mail-Well, Inc. (a diversified printing company). Prior to July 2001, Mr. Stephens was Chairman of Mail-Well.

Prior to 2009, Mr. Stephens was Chairman and Chief Executive Officer of Boise Cascade, L.L.C. (a paper, forest product and timberland assets company). He holds B.S. and M.S. degrees from the University of Arkansas.

Richard B. Worley (Born 1945)
Trustee since 2004

Mr. Worley is Managing Partner of Permit Capital LLC, an investment management firm.

Mr. Worley serves as a Trustee of the University of Pennsylvania Medical Center, The Robert Wood Johnson Foundation (a philanthropic organization devoted to health-care issues), and the National Constitution Center. He is also a Director of The Colonial Williamsburg Foundation (a historical preservation organization), and the Philadelphia Orchestra Association. Mr. Worley also serves on the investment committees of Mount Holyoke College and World Wildlife Fund (a wildlife conservation organization).

Prior to joining Permit Capital LLC in 2002, Mr. Worley served as President, Chief Executive Officer, and Chief Investment Officer of Morgan Stanley Dean Witter Investment Management and as a Managing Director of Morgan Stanley, a financial services firm. Mr. Worley also was the Chairman of Miller Anderson & Sherrerd, an investment management firm that was acquired by Morgan Stanley in 1996.

Mr. Worley holds a B.S. degree from the University of Tennessee and pursued graduate studies in economics at the University of Texas.

7


Interested Trustee


Robert L. Reynolds* (Born 1952)
Trustee since 2008 and President of the
Putnam Funds since July 2009

Mr. Reynolds is President and Chief Executive Officer of Putnam Investments, a member of Putnam Investments’ Executive Board of Directors, and President of the Putnam Funds. He has more than 30 years of investment and financial services experience.

Prior to joining Putnam Investments in 2008, Mr. Reynolds was Vice Chairman and Chief Operating Officer of Fidelity Investments from 2000 to 2007. During this time, he served on the Board of Directors for FMR Corporation, Fidelity Investments Insurance Ltd., Fidelity Investments Canada Ltd., and Fidelity Management Trust Company. He was also a Trustee of the Fidelity Family of Funds. From 1984 to 2000, Mr. Reynolds served in a number of increasingly responsible leadership roles at Fidelity.

Mr. Reynolds serves on several not-for-profit boards, including those of the West Virginia University Foundation, Concord Museum, Dana-Farber Cancer Institute, Lahey Clinic, and Initiative for a Competitive Inner City in Boston. He is a member of the Chief Executives Club of Boston, the National Innovation Initiative, and the Council on Competitiveness.

Mr. Reynolds received a B.S. in Business Administration/Finance from West Virginia University.

* Nominee who is an “interested person” of the fund and/or Putnam Management and/or Putnam Retail Management Limited Partnership (“Putnam Retail Management”). Mr. Reynolds is deemed an “interested person” by virtue of his position as an officer of the fund, Putnam Management and/or Putnam Retail Management. Mr. Reynolds is the President and Chief Executive Officer of Putnam Investments.

Each of the nominees has agreed to serve as a Trustee, if elected. If any of the nominees is unavailable for election at the time of the meeting, which is not anticipated, the Trustees may vote for other nominees at their discretion, or the Trustees may fix the number of Trustees at fewer than 14 for your fund.

What are the Trustees’ responsibilities?

Your fund’s Trustees are responsible for the general oversight of your fund’s affairs and for assuring that your fund is managed in the best interests of its shareholders. The Trustees regularly review your fund’s investment performance as well as the quality of other services provided to your fund and its shareholders by Putnam Management and its affiliates, including administration, custody, and shareholder servicing. At least annually, the Trustees review and evaluate the fees and operating expenses paid by your fund for these services and negotiate changes that they deem appropriate. In carrying out these responsibilities, the Trustees are assisted by an independent administrative staff and by your fund’s auditors, independent counsel and other experts as appropriate, selected by and responsible to the Trustees.

At least 75% of the trustees of your fund are required to not be interested persons of your fund or your fund’s investment manager. These Independent Trustees must vote separately to approve all financial arrangements and other agreements with your fund’s investment manager and other affiliated parties. The role of independent trustees has been characterized as that of a “watchdog” charged with oversight to protect shareholders’ interests against overreaching and abuse by those who are in a position to control or influence a fund. Your fund’s Independent Trustees meet regularly as a group in executive session. Thirteen of the 14 nominees for election as Trustee are now, and would be, if elected, Independent Trustees.

Board committees. Your fund’s Trustees have determined that the efficient conduct of your fund’s affairs makes it desirable to delegate responsibility for certain specific matters to committees of the board. Certain committees (the Executive Committee, Distributions Committee, and Audit and Compliance Committee) are authorized to act for the Trustees as specified in their charters. The other committees review and evaluate matters specified in their charters and make recommendations to the Trustees as they deem appropriate. Each committee may utilize the resources of your fund’s independent staff, counsel and auditors as well as other experts. The committees meet as often as necessary, either in conjunction with regular meetings of the Trustees or otherwise. The membership and chairperson of each committee are appointed by the Trustees upon recommendation of the Board Policy and Nominating Commit tee.

Audit and Compliance Committee. The Audit and Compliance Committee provides oversight on matters relating to the preparation of the funds’ financial statements, compliance matters, internal audit functions, and Codes of Ethics issues. This oversight is discharged by regularly meeting with management and the funds’ independent auditors and keeping current on industry developments. Duties of this Committee also include the review and evaluation of all matters and relationships pertaining to the funds’ independent auditors, including their independence. Information about the fees billed to the funds by the funds’ independent auditors, as well as information about the Committee’s pre-approval policies relating to work performed by the funds’ independent auditors, is included in Appendix Q. The members of th e Committee include only Independent Trustees. Each member of the Committee also is “independent”, as such term is interpreted for purposes of Rule 10A-3(b)(1) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the listing standards of the New York Stock Exchange. The Board of Trustees has adopted a written charter for the Committee, a current copy of which is available at www.putnam.com/individual. The Committee currently consists of Messrs. Patterson (Chairperson), Darretta, Hill, Leibler, Stephens and Ms. Drucker.

Board Policy and Nominating Committee. The Board Policy and Nominating Committee reviews policy matters pertaining to the operations of the Board of Trustees and its committees, the

8


compensation of the Trustees and their staff, and the conduct of legal affairs for the Putnam funds. The Committee also oversees the voting of proxies associated with portfolio investments of the Putnam funds, with the goal of ensuring that these proxies are voted in the best interest of the fund’s shareholders.

The Committee evaluates and recommends all candidates for election as Trustees and recommends the appointment of members and chairs of each board committee. The Committee also identifies prospective nominees for election as trustee by considering individuals that come to its attention through the recommendation of current Trustees, Putnam Management or shareholders. Candidates properly submitted by shareholders (as described below) will be considered and evaluated on the same basis as candidates recommended by other sources. The Committee may, but is not required to, engage a third-party professional search firm to assist it in identifying and evaluating potential nominees.

When evaluating a potential candidate for membership on the Board of Trustees, the Committee considers the skills and characteristics that it determines would most benefit the Putnam funds at the time the evaluation is made. The Committee may take into account a wide variety of attributes in considering potential trustee candidates, including, but not limited to: (i) availability and commitment of a candidate to attend meetings and perform his or her responsibilities to the Board of Trustees, (ii) other board experience, (iii) relevant industry and related experience, (iv) educational background, (v) financial expertise, (vi) an assessment of the candidate’s ability, judgment and expertise, (vii) an assessment of the perceived needs of the Board of Trustees and its committees at that point in time and (viii) overall Board of Trustees composition. In connection with this evaluation, the Committee will determine whether to interview prospective nomi nees, and, if warranted, one or more members of the Committee, and other Trustees and representatives of the funds, as appropriate, will interview prospective nominees in person or by telephone. Once this evaluation is completed, the Committee recommends such candidates as it determines appropriate to the Independent Trustees for nomination, and the Independent Trustees select the nominees after considering the recommendation of the Committee.

The Committee will consider nominees for Trustee recommended by shareholders of a fund provided shareholders submit their recommendations by the date disclosed in the paragraph entitled “Date for receipt of shareholders’ proposals for subsequent meetings of shareholders” in the section “Further Information About Voting and the Special Meeting,” and provided the shareholders’ recommendations otherwise comply with applicable securities laws, including Rule 14a-8 under the Securities Exchange Act of 1934, as amended.

The Committee consists only of Independent Trustees. The Trustees have adopted a written charter for the Board Policy and Nominating Committee, a current copy of which is available at www.putnam.com/individual. The Board Policy and Nominating Committee currently consists of Dr. Kennan (Chairperson), Ms. Baxter and Messrs. Hill, Patterson and Putnam.

Brokerage Committee. The Brokerage Committee reviews the funds’ policies regarding the execution of portfolio trades and Putnam Management’s practices and procedures relating to the implementation of those policies. The Committee reviews periodic reports on the cost and quality of execution of portfolio transactions and the extent to which brokerage commissions have been used (i) by Putnam Management to obtain brokerage and research services generally useful to it in managing the portfolios of the funds and of its other clients, and (ii) by the funds to pay for certain fund expenses. The Committee reports to the Trustees and makes recommendations to the Trustees regarding these matters. The Committee currently consists of Drs. Joskow (Chairperson) and Kennan, Ms. Baxter and Messrs. Akhoury, Curtis, Putnam and Worley.

Communications, Service and Marketing Committee. The Communications, Service and Marketing Committee reviews the quality of services provided to shareholders and oversees the marketing and sale of fund shares by Putnam Retail Management. The Committee also exercises general oversight of marketing and sales communications used by Putnam Retail Management, as well as other communications sent to fund shareholders. The Committee also reviews periodic summaries of any correspondence to the Trustees from shareholders. The Committee reports to the Trustees and makes recommendations to the Trustees regarding these matters. The Committee currently consists of Messrs. Putnam (Chairperson), Curtis, Patterson, Stephens and Drs. Joskow and Kennan.

Contract Committee. The Contract Committee reviews and evaluates at least annually all arrangements pertaining to (i) the engagement of Putnam Management and its affiliates to provide services to the funds, (ii) the expenditure of the funds’ assets for distribution purposes pursuant to Distribution Plans of the funds, and (iii) the engagement of other persons to provide material services to the funds, including in particular those instances where the cost of services is shared between the funds and Putnam Management and its affiliates or where Putnam Management or its affiliates have a material interest. The Committee also reviews the proposed organization of new fund products, proposed structural changes to existing funds and matters relating to closed-end funds. The Committee reports and makes recommendations to the Trustees regarding these matters. The Committee currently consists of Ms. Baxter (Chairp erson), Drs. Joskow and Kennan and Messrs. Akhoury, Curtis, Putnam and Worley.

Distributions Committee. The Distributions Committee oversees all dividends and distributions by the funds. The Committee makes recommendations to the Trustees of the funds regarding the amount and timing of distributions paid by the funds, and determines such matters when the Trustees are not in session. The Committee also oversees the policies and procedures pursuant to which Putnam Management prepares

9


recommendations for distributions, and meets regularly with representatives of Putnam Management to review the implementation of such policies and procedures. The Committee reports to the Trustees and makes recommendations to the Trustees regarding these matters. The Committee currently consists of Ms. Drucker (Chairperson) and Messrs. Darretta, Hill, Leibler, Patterson, and Stephens.

Executive Committee. The functions of the Executive Committee are twofold. The first is to ensure that the funds’ business may be conducted at times when it is not feasible to convene a meeting of the Trustees or for the Trustees to act by written consent. The Committee may exercise any or all of the power and authority of the Trustees when the Trustees are not in session. The second is to establish annual and ongoing goals, objectives and priorities for the Board of Trustees and to ensure coordination of all efforts between the Trustees and Putnam Management on behalf of the shareholders of the funds. The Committee currently consists of Messrs. Hill (Chairperson), Curtis, Patterson and Putnam, Dr. Joskow and Ms. Baxter.

Investment Oversight Committees. The Investment Oversight Committees regularly meet with investment personnel of Putnam Management to review the investment performance and strategies of the funds in light of their stated investment objectives and policies. The Committees seek to identify any compliance issues that are unique to the applicable categories of funds and work with the appropriate Board committees to ensure that any such issues are properly addressed. Investment Oversight Committee A currently consists of Messrs. Darretta (Chairperson) and Putnam and Ms. Baxter. Investment Oversight Committee B currently consists of Messrs. Akhoury (Chairperson) and Curtis. Investment Oversight Committee C currently consists of Messrs. Leibler (Chairperson) and Hill and Dr. Kennan. Investment Oversight Committee D currently consists of Messrs. Worley (Chairperson) and Stephens and Dr. Joskow. Investment Oversight Co mmittee E currently consists of Ms. Drucker (Chairperson) and Messrs. Patterson and Reynolds.

Investment Oversight Coordinating Committee. The Investment Oversight Coordinating Committee coordinates the work of the Investment Oversight Committees and works with representatives of Putnam Management to coordinate the Board’s general oversight of the investment performance of the funds. From time to time, as determined by the Chairman of the Board, the Committee may also review particular matters relating to fund investments and Putnam Management’s investment process. The Committee currently consists of Ms. Drucker (Chairperson) and Messrs. Akhoury, Darretta, Leibler and Worley.

Pricing Committee. The Pricing Committee oversees the valuation of assets of the Putnam funds and reviews the funds’ policies and procedures for achieving accurate and timely pricing of fund shares. The Committee also oversees implementation of these policies, including fair value determinations of individual securities made by Putnam Management or other designated agents of the funds. The Committee also oversees compliance by money market funds with Rule 2a-7 and the correction of occasional pricing errors. The Committee also reviews matters related to the liquidity of portfolio holdings. The Committee reports to the Trustees and makes recommendations to the Trustees regarding these matters. The Committee currently consists of Messrs. Leibler (Chairperson), Darretta, Hill, Patterson, Stephens and Ms. Drucker.

How large a stake do the Trustees have in the Putnam family of funds?

The Trustees allocate their investments among the Putnam funds based on their own investment needs. The number of shares beneficially owned by each nominee for Trustee, as well as the value of each nominee’s holdings in each fund and across all Putnam funds, as of June 30, 2009 is included in Appendix B. As a group, the Trustees owned shares of the Putnam funds valued at approximately $31 million as of June 30, 2009.

As of June 30, 2009, to the knowledge of your fund, each Trustee, and the officers and Trustees of the fund as a group, owned less than 1% of the outstanding shares of each class of each fund, except as listed in Appendix B.

What are some of the ways in which the Trustees represent shareholder interests?

Among other ways, the Trustees seek to represent shareholder interests:

• by carefully reviewing your fund’s investment performance on an individual basis with your fund’s investment personnel;

• by discussing with senior management of Putnam Management steps being taken to address any performance deficiencies;

• by carefully reviewing the quality of the various other services provided to your fund and its shareholders by Putnam Management and its affiliates;

• by reviewing in depth the fees paid by each fund and by negotiating with Putnam Management to ensure that such fees remain reasonable and competitive with those of comparable funds, while at the same time providing Putnam Management sufficient resources to continue to provide high quality services in the future;

• by reviewing brokerage costs and fees, allocations among brokers, soft dollar expenditures and similar expenses of your fund;

• by monitoring potential conflicts of interest between the funds and Putnam Management and its affiliates to ensure that the funds continue to be managed in the best interests of their shareholders; and

• by monitoring potential conflicts among funds managed by Putnam Management to ensure that shareholders continue to realize the benefits of participation in a large and diverse family of funds.

10


How can shareholders communicate with
the Trustees?

The Board of Trustees provides a process for shareholders to send communications to the Trustees. Shareholders may direct communications to the Board of Trustees as a whole or to specified individual Trustees by submitting them in writing to the following address:

The Putnam Funds
Attention: “Board of Trustees” or any specified Trustee(s) 
One Post Office Square
Boston, Massachusetts 02109

Written communications must include the shareholder’s name, be signed by the shareholder, refer to the Putnam fund(s) in which the shareholder holds shares and include the class and number of shares held by the shareholder as of a recent date.

Representatives of the funds’ transfer agent will review all communications sent to Trustees and, as deemed appropriate, will provide copies, or summaries of, such communications to the Trustees.

How often do the Trustees meet?

The Trustees hold regular meetings each month (except August), usually over a two-day period, to review the operations of the Putnam funds. A portion of these meetings is devoted to meetings of various committees of the board that focus on particular matters. Each Trustee generally attends at least two formal committee meetings during each regular meeting of the Trustees. In addition, the Trustees meet in small groups with senior investment personnel and portfolio managers to review recent performance and the current investment climate for selected funds. These meetings ensure that fund performance is reviewed in detail at least twice a year. The committees of the board, including the Executive Committee, may also meet on special occasions as the need arises. During calendar year 2008, the average Trustee participated in approximately 68 committee and board meetings.

The number of times each committee met during calendar year 2008 is shown in the table below:

Audit and Compliance Committee  12 
Board Policy and Nominating Committee  11 
Brokerage Committee  7 
Communications, Service and Marketing Committee  8 
Contract Committee  13 
Distributions Committee  11 
Executive Committee  1 
Investment Oversight Committees  6 
Investment Oversight Coordinating Committee  14 
Pricing Committee  8 

What are the Trustees paid for their services?

Each Independent Trustee of the fund receives an annual retainer fee and additional fees for each Trustees’ meeting attended and for certain related services. Independent Trustees also are reimbursed for costs incurred in connection with their services, including costs of travel, seminars and educational materials. All of the current Independent Trustees of the fund are Trustees of all the Putnam funds and receive fees for their services.

The Trustees periodically review their fees to ensure that such fees continue to be appropriate in light of their responsibilities as well as in relation to fees paid to trustees of other mutual fund complexes. The Board Policy and Nominating Committee, which consists solely of Independent Trustees of the fund, estimates that committee and Trustee meeting time, together with the appropriate preparation, requires the equivalent of at least three business days per Trustee meeting. The table found in Appendix C includes the year each Trustee became a Trustee of the Putnam funds, the fees paid to each of those Trustees by each fund included in this proxy statement for its most recent fiscal year (ended between July 31, 2008 and June 30, 2009) and the fees paid to each of those Trustees by all of the Putnam funds during calendar year 2008.

Under a Retirement Plan for Trustees of the Putnam funds (the Plan), each Trustee elected prior to 2004 who retires with at least five years of service as a Trustee of the funds is entitled to receive an annual retirement benefit equal to one-half of the average annual attendance and retainer fees paid to such Trustee for calendar years 2003, 2004 and 2005. This retirement benefit is payable during a Trustee’s lifetime, beginning the year following retirement, for the number of years of service through December 31, 2006. A death benefit, also available under the Plan, ensures that the Trustee or his or her beneficiaries will receive benefit payments for the lesser of an aggregate period of (i) ten years or (ii) such Trustee’s total years of service.

The Plan Administrator (currently the Board Policy and Nominating Committee) may terminate or amend the Plan at any time, but no termination or amendment will result in a reduction in the amount of benefits (i) currently being paid to a Trustee at the time of such termination or amendment, or (ii) to which a current Trustee would have been entitled had he or she retired immediately prior to such termination or amendment. The Trustees have terminated the Plan with respect to any Trustee first elected to the board after 2003.

What is the voting requirement for electing Trustees?

If a quorum for your trust is present at the Special Meeting, the fourteen nominees for election as Trustees who receive the greatest number of votes cast at the Special Meeting will be elected as Trustees of your fund.

11


2. APPROVING A PROPOSED NEW MANAGEMENT
CONTRACT FOR MOST FUNDS

What is this proposal?

The Trustees are recommending approval of a new management contract for 88 Putnam Funds as part of shareholder-friendly changes proposed by Putnam Management to Putnam fund management fees. (The only funds for which a new management contract is not being proposed are the RetirementReady® Funds and the Money Market Liquidity Fund; Putnam Management currently does not collect any management fees for these funds.)

The proposed new management contracts would result in several key changes in the management fees paid by the funds:

• Lower management fees: The proposal would result in lower contractual management fees for virtually all Putnam funds, including significantly lower management fees for fixed income and asset allocation funds.

• Fund Family breakpoints: Asset-level discounts for management fees would be based on the growth of all Putnam mutual fund assets, rather than an individual fund’s assets. (“Fund Family” for purposes of this proxy statement refers to all open-end mutual funds sponsored by Putnam Management, except for the Putnam RetirementReady® Funds and Putnam Money Market Liquidity Fund.) The proposal would allow shareholders to benefit from the growth of the Fund Family as a whole, even if their specific fund is not growing.

• Performance fees on U.S. growth funds, international equity funds, and Putnam Global Equity Fund: Each of these equity funds would have performance fees reflecting the strength or weakness of the fund’s investment performance. Management fees for these funds would decline from their standard fee if the funds underperform their benchmarks and would rise if the funds outperform their benchmarks.

Why did Putnam Management propose a new
management contract with Fund Family breakpoints
and, for certain funds, performance fees?

The proposed new management contracts differ from the funds’ current management contracts principally by providing for Fund Family breakpoints for 88 funds and, for U.S. growth funds, international equity funds, and Putnam Global Equity Fund, performance fees as well.

Fund Family breakpoints. The implementation of Fund Family breakpoints would result in lower contractual management fees for virtually all Putnam funds. More generally, Putnam Management believes that the determination of your fund’s management fee through breakpoints based on the aggregate net assets of the Fund Family would be in the best interests of your fund’s shareholders for four reasons.

First, Putnam Management believes that Fund Family breakpoints would be more reflective than individual fund breakpoints of the underlying costs Putnam Management incurs in providing investment management-related services to the Fund Family. Putnam Management believes that, because investment management-related services are typically shared across a modern mutual fund family, the costs of these services tend to vary proportionately with the growth or decline of the size of the overall mutual fund family more than with the size of an individual fund. In Putnam Management’s opinion, investment management-related services are now shared broadly across the Fund Family, rather than being specific to any particular fund. Securities trading, some securities research, quantitative analysis, technology, fund administration, accounting services, and legal and compliance oversight are examples of investment management-rela ted services that are shared across the Fund Family. All in all, Fund Family breakpoints would likely be more reflective than individual fund breakpoints of the manner in which “economies of scale” may be realized.

Currently, each Putnam fund (other than the RetirementReady® Funds and the Money Market Liquidity Fund) has an individual fund breakpoint schedule that results in a lower effective management fee as assets in that fund increase. As a result of this arrangement, shareholders benefit directly from growth of the fund they own, regardless of any changes in the size of other funds or in the overall level of assets of the Fund Family. While Putnam Management believes that this structure has served shareholders well historically, Putnam Management believes that the use of Fund Family breakpoints would represent an enhancement to each fund’s fee structure given the nature of economies of scale in the modern mutual fund family.

Second, shareholders would benefit under Fund Family breakpoints from “cost diversification,” which allows them to benefit from the growth of the Fund Family as a whole even if their specific fund is not growing. Putnam funds are likely to grow and/or shrink at different rates as market conditions change. Fund Family breakpoints assure that, in total, all shareholders benefit from the Fund Family’s overall growth, regardless of the specific funds driving such growth at any one time.

Third, because Fund Family breakpoints would allow each shareholder in the Fund Family to benefit proportionately from every dollar invested in any fund in the Fund Family, Fund Family breakpoints would give all shareholders an enhanced stake in the future growth of Putnam mutual fund assets.

Fourth, the proposed fee categories under Fund Family breakpoints presented in Appendix F would result in management fees that will not favor one fund over another in the same fee category solely on the basis of one fund having achieved greater size than another. Putnam Management believes that this feature of Fund Family breakpoints should enhance the value of the exchange privilege available to shareholders across the Fund Family of diversified products.

Performance fees. Putnam Management proposes to extend further its philosophy that strong investment performance

12


should be rewarded with higher management fees, while poor performance should command lower management fees, for the funds listed below:

  International   
U.S. growth funds  equity funds   
Putnam Growth  Putnam Asia Pacific  Putnam Global Equity 
Opportunities Fund  Equity Fund  Fund 
Putnam New  Putnam Emerging   
Opportunities Fund  Markets Equity Fund   
Putnam Small Cap  Putnam Europe Equity   
Growth Fund  Fund   
Putnam Vista Fund  Putnam International   
Capital Opportunities
  Fund   
Putnam Voyager Fund  Putnam International   
  Equity Fund   
Putnam International
Growth and Income
  Fund   
Putnam International
New Opportunities
  Fund   

By extending this philosophy, already employed by Putnam’s “Absolute Return” and “Spectrum” funds, to these 13 funds, Putnam Management would be providing significant numbers of additional shareholders with a management fee that adjusts based on the strength of the investment performance results that are obtained on their behalf. These 13 funds, along with the “Absolute Return” and “Spectrum” funds, together represent approximately 22% of Putnam mutual fund assets as of June 30, 2009.

By linking its pay to a fund’s performance, Putnam Management believes that the use of performance fees for these 13 funds would further align the firm’s economic interests with those of shareholders in funds for which Putnam Management believes this fee mechanism is most appropriate. Putnam Management will continue to monitor whether performance fees would be appropriate for shareholders in other funds.

What are the specific changes included in the
proposed new management contract?

The proposed new management contract reflects a comprehensive restructuring of the management fees paid by the Putnam funds, which has been proposed by Putnam Management and approved by the Trustees as being in the best interest of shareholders of your fund. The proposed management contract changes the way in which the management fees paid by your fund are calculated in two important ways. For all 88 affected funds, the proposed management contract specifies a fee rate that varies based on the aggregate net assets of all funds in the Fund Family. In addition, for 13 funds, the new fee rate also varies based on the performance of the fund as compared with the performance of a specified investment benchmark. Finally, for a number of funds, the proposed management contract changes the timing of management fee computation and payment in order to standardize these terms for all Putnam funds. All other terms and conditions of the proposed management contract for each fund are substantially identical to those of the fund’s current management contract. A form of the proposed management contract showing all of the proposed changes is included in Appendix D.

Proposed calculation of fee rates for all funds based on aggregate net assets of the Fund Family

Calculation of current management fee. The management contract currently in effect for each affected fund provides for payment of a management fee calculated as a percentage of the average net assets of the fund, with the applicable percentage declining as average net assets exceed certain specified “breakpoints.” As a result, the effective management fee paid by each fund declines as its average net assets increase beyond the level of the first breakpoint ($500 million for most funds). Conversely, in the case of funds with net assets above the level of the first breakpoint, the effective management fee increases as average net assets of the fund decrease. The current management fee schedule for each fund is listed in Appendix E.

Calculation of proposed management fee. The proposed management contract for each affected fund provides for payment of a management fee at a rate that is no longer based on the net assets of the individual fund. Instead, the proposed management fee rate for each affected fund is calculated based on a fee schedule that takes into account the aggregate net assets of the Fund Family. (The proposed fee schedule for each fund is listed in Appendix F.) The effective fee rate so calculated for each fund would be multiplied by the average net assets of the fund to determine the management fee payable for each payment period. (As discussed below, the management fee calculated under this formula would be subject to adjustment in the case of those funds for which a performance fee adjustment is proposed or is in place under the current manage ment contract.)

Comparison of current and proposed management fee rates. The table below shows the proposed effective management fee rate for each affected fund, based on June 30, 2009 net assets of the Fund Family ($52.3 billion). This table also shows the effective management fee rate payable by each affected fund under its current management contract, based on the net assets of each individual fund as of June 30, 2009. Finally, this table shows the difference in the effective management fees, based on net assets as of June 30, 2009, between the proposed management contract and the current contract.

13


EQUITY FUNDS
  Proposed  Current   
  Effective  Effective   
Name of Fund  Contractual Rate  Contractual Rate  Difference 
Putnam Equity  0.492%  0.518%  (0.026%) 
Income Fund       
Putnam VT Equity  0.492%  0.650%  (0.158%) 
Income Fund       
The Putnam Fund for  0.492%  0.487%  0.005% 
Growth and Income       
Putnam VT Growth  0.492%  0.577%  (0.085%) 
and Income Fund       
Putnam Growth  0.572%  0.700%  (0.128%) 
Opportunities Fund       
Putnam VT Growth  0.572%  0.700%  (0.128%) 
Opportunities Fund       
Putnam Investors  0.572%  0.570%  0.002% 
Fund       
Putnam VT Investors  0.572%  0.650%  (0.078%) 
Fund       
Putnam New  0.572%  0.574%  (0.002%) 
Opportunities Fund       
Putnam VT New  0.572%  0.697%  (0.125%) 
Opportunities Fund       
Putnam Research  0.572%  0.650%  (0.078%) 
Fund       
Putnam VT Research  0.572%  0.650%  (0.078%) 
Fund       
Putnam Voyager  0.572%  0.561%  0.011% 
Fund       
Putnam VT Voyager  0.572%  0.659%  (0.086%) 
Fund       
Putnam Mid Cap  0.602%  0.700%  (0.098%) 
Value Fund       
Putnam VT Mid Cap  0.602%  0.700%  (0.098%) 
Value Fund       
Putnam Vista Fund  0.602%  0.604%  (0.002%) 
Putnam VT Vista  0.602%  0.650%  (0.048%) 
Fund       
Putnam Capital  0.642%  0.650%  (0.008%) 
Opportunities Fund       
Putnam VT Capital  0.642%  0.650%  (0.008%) 
Opportunities Fund       
Putnam Convertible  0.642%  0.640%  0.002% 
Income-Growth Trust       
Putnam Small Cap  0.642%  1.000%  (0.358%) 
Growth Fund       
Putnam Small Cap  0.642%  0.800%  (0.158%) 
Value Fund       
Putnam VT Small Cap  0.642%  0.800%  (0.158%) 
Value Fund       
Putnam Europe  0.712%  0.800%  (0.088%) 
Equity Fund       
Putnam Global Equity  0.712%  0.758%  (0.046%) 
Fund       
Putnam VT Global  0.712%  0.800%  (0.088%) 
Equity Fund       
Putnam International  0.712%  0.698%  0.014% 
Equity Fund       
Putnam VT  0.712%  0.792%  (0.080%) 
International Equity       
Fund       
Putnam International  0.712%  0.800%  (0.088%) 
Growth and Income       
Fund       

EQUITY FUNDS CONT.
Proposed 
  Effective  Current Effective   
Name of Fund  Contractual Rate  Contractual Rate  Difference 
Putnam VT  0.712%  0.800%  (0.088%) 
International Growth       
and Income Fund       
Putnam Asia Pacific  0.942%  1.000%  (0.058%) 
Equity Fund       
Putnam Emerging  0.942%  1.000%  (0.058%) 
Markets Equity Fund       
Putnam International  0.942%  1.000%  (0.058%) 
New Opportunities       
Fund       
Putnam VT  0.942%  1.000%  (0.058%) 
International New       
Opportunities Fund       
Putnam International  0.942%  0.948%  (0.006%) 
Capital Opportunities       
Fund       
Putnam Global  0.642%  0.700%  (0.058%) 
Consumer Fund       
Putnam Global  0.642%  0.700%  (0.058%) 
Energy Fund       
Putnam Global  0.642%  0.700%  (0.058%) 
Financials Fund       
Putnam Global Health  0.642%  0.637%  0.005% 
Care Fund       
Putnam VT Global  0.642%  0.700%  (0.058%) 
Health Care Fund       
Putnam Global  0.642%  0.700%  (0.058%) 
Industrials Fund       
Putnam Global  0.642%  0.700%  (0.058%) 
Natural Resources       
Fund       
Putnam Global  0.642%  0.700%  (0.058%) 
Technology Fund       
Putnam Global  0.642%  0.700%  (0.058%) 
Telecommunications       
Fund       
Putnam Global  0.642%  0.700%  (0.058%) 
Utilities Fund       
Putnam VT Global  0.642%  0.700%  (0.058%) 
Utilities Fund       

FIXED INCOME FUNDS
Proposed 
  Effective  Current Effective   
Name of Fund  Contractual Rate  Contractual Rate  Difference 
Putnam American  0.412%  0.622%  (0.210%) 
Government Income       
Fund       
Putnam VT American  0.412%  0.650%  (0.238%) 
Government Income       
Fund       
Putnam Income Fund  0.412%  0.602%  (0.190%) 
Putnam VT Income  0.412%  0.650%  (0.238%) 
Fund       
Putnam U.S.  0.412%  0.504%  (0.092%) 
Government Income       
Trust       
Putnam Tax-Free  0.492%  0.500%  (0.008%) 
High Yield Fund       
Putnam Diversified  0.562%  0.599%  (0.036%) 
Income Trust       

14


FIXED INCOME FUNDS CONT.
Proposed 
  Effective  Current Effective   
Name of Fund  Contractual Rate  Contractual Rate  Difference 
Putnam VT  0.562%  0.700%  (0.138%) 
Diversified Income       
Fund       
Putnam Global  0.562%  0.700%  (0.138%) 
Income Trust       
Putnam Floating Rate  0.582%  0.650%  (0.068%) 
Income Fund       
Putnam High Yield  0.582%  0.636%  (0.053%) 
Trust       
Putnam VT High Yield  0.582%  0.700%  (0.118%) 
Fund       
Putnam High Yield  0.582%  0.679%  (0.097%) 
Advantage Fund       
Putnam AMT-Free  0.452%  0.500%  (0.048%) 
Municipal Fund       
Putnam Arizona Tax  0.452%  0.500%  (0.048%) 
Exempt Income Fund       
Putnam California Tax  0.452%  0.500%  (0.048%) 
Exempt Income Fund       
Putnam  0.452%  0.500%  (0.048%) 
Massachusetts Tax       
Exempt Income Fund       
Putnam Michigan Tax  0.452%  0.500%  (0.048%) 
Exempt Income Fund       
Putnam Minnesota  0.452%  0.500%  (0.048%) 
Tax Exempt Income       
Fund       
Putnam New Jersey  0.452%  0.500%  (0.048%) 
Tax Exempt Income       
Fund       
Putnam New York  0.452%  0.500%  (0.048%) 
Tax Exempt Income       
Fund       
Putnam Ohio Tax  0.452%  0.500%  (0.048%) 
Exempt Income Fund       
Putnam Pennsylvania  0.452%  0.500%  (0.048%) 
Tax Exempt Income       
Fund       
Putnam Tax Exempt  0.452%  0.500%  (0.048%) 
Income Fund       

MONEY MARKET FUNDS
Proposed 
  Effective  Current Effective   
Name of Fund  Contractual Rate  Contractual Rate  Difference 
Putnam Money  0.302%  0.308%  (0.006%) 
Market Fund       
Putnam VT Money  0.302%  0.450%  (0.148%) 
Market Fund       
Putnam Tax Exempt  0.302%  0.450%  (0.148%) 
Money Market Fund       

ASSET ALLOCATION AND SPECIALTY FUNDS
Proposed 
  Effective  Current Effective   
Name of Fund  Contractual Rate  Contractual Rate  Difference 
Putnam Absolute  0.492%  0.550%  (0.058%) 
Return 100 Fund       
Putnam Asset  0.542%  0.654%  (0.112%) 
Allocation:       
Conservative       
Portfolio       
Putnam Income  0.542%  0.650%  (0.108%) 
Strategies Fund       
Putnam Asset  0.542%  0.624%  (0.082%) 
Allocation: Balanced       
Portfolio       
The George Putnam  0.542%  0.570%  (0.028%) 
Fund of Boston       
Putnam VT The  0.542%  0.650%  (0.108%) 
George Putnam Fund       
of Boston       
Putnam Absolute  0.592%  0.650%  (0.058%) 
Return 300 Fund       
Putnam Asset  0.612%  0.700%  (0.088%) 
Allocation: Equity       
Portfolio       
Putnam Asset  0.612%  0.611%  0.001% 
Allocation: Growth       
Portfolio       
Putnam VT Global  0.612%  0.700%  (0.088%) 
Asset Allocation Fund       
Putnam Absolute  0.742%  0.800%  (0.058%) 
Return 500 Fund       
Putnam Capital  0.742%  0.800%  (0.058%) 
Spectrum Fund       
Putnam Equity  0.742%  0.800%  (0.058%) 
Spectrum Fund       
Putnam Absolute  0.892%  0.950%  (0.058%) 
Return 700 Fund       

As shown in the foregoing table, based on June 30, 2009 net asset levels, the proposed management contract would provide for payment of a management fee rate that is lower for almost all funds, and in many cases materially lower, than the management fee rate payable under the current management contract. For a small number of funds, the management fee rate would be slightly higher under the proposed contract at these asset levels, but by only immaterial amounts. In the aggregate, the financial impact on Putnam Management of implementing this proposed change for all funds at June 30, 2009 net asset levels is a reduction in annual management fee revenue of approximately $24.0 million. (Putnam Management has already incurred a significant portion of this revenue reduction through the waiver of a portion of its current management fees for certain funds pending shareholder consideration of the proposed management contracts. Putnam is not obliged to continue such waivers beyond July 31, 2010 in the event that the proposed contracts are not approved by shareholders.)

The management fee rate payable under the proposed management contract for each affected fund is calculated on a fundamentally different basis than the fee rate under its current contract. As a result, the differences in effective fee

15


rates between the current and the proposed contracts and the financial impact on Putnam Management’s fee revenues in the future will vary depending on future changes in the net assets of each fund (in the case of the current contract) and in the aggregate net assets of the Fund Family (in the case of the proposed contract). For further discussion of the potential impact of future changes in asset levels, see “What factors did the Independent Trustees consider in evaluating the proposed management contracts?” below.

Proposed addition of new performance fees for 13 funds

Six of the Putnam funds (the “Absolute Return” and “Spectrum” funds) already have management fee rates that may vary based on the performance of the fund in relation to the performance of a specified investment benchmark. The performance adjustments included in the current management contracts for these funds would remain unchanged and continue in effect under the proposed management contracts. The proposed contracts would, however, add similar performance adjustments to the calculation of management fees for the following 13 funds:

Putnam Asia Pacific Equity Fund
Putnam Emerging Markets Equity Fund
Putnam Europe Equity Fund
Putnam Global Equity Fund
Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam International Growth and Income Fund
Putnam International New Opportunities Fund
Putnam New Opportunities Fund
Putnam Small Cap Growth Fund
Putnam Vista Fund
Putnam Voyager Fund

For these funds, the proposed management contract between your fund and Putnam Management would include, in addition to the new Fund Family breakpoint fee structure discussed above, a performance adjustment that would increase or decrease the management fees paid by your fund based upon the performance of the fund relative to a benchmark index.

Calculation of the proposed performance adjustment. If the proposed management contract is approved, your fund would pay a monthly Fund Family breakpoint fee to Putnam Management for the first year of the new contract. Beginning with your fund’s thirteenth complete calendar month of operations under the proposed management contract, the monthly management fee would consist of the monthly Fund Family breakpoint fee plus or minus a performance adjustment for the month. The amount of the performance adjustment would be calculated monthly based on a performance adjustment rate equal to 3% multiplied by the difference between the fund’s annualized performance measured by the fund’s class A shares and the annualized performance of the fund’s benchmark index, each measured as a percen tage, over the performance period. (The class of shares used for purposes of this calculation could be changed in the future with the approval of the Trustees to the extent permitted by applicable law.) The performance adjustment rate would be subject to a maximum annualized performance adjustment rate for each affected fund. Appendix G lists the proposed benchmark index for each affected fund and the proposed maximum annualized performance adjustment rates.

The performance period would be the thirty-six month period then ended (or, if the proposed management contract has not then been effective for thirty-six complete calendar months, the period from the date the proposed management contract became effective to the end of the month for which the fee adjustment is being computed). Each month, the performance adjustment rate would be multiplied by the fund’s average net assets over the performance period and the result would be divided by twelve. This dollar amount would be added to, or subtracted from, the base management fee for that month.

Depending on how your fund performs relative to its benchmark, the performance adjustment may result in an increase or decrease in the management fees paid by your fund. Because the performance adjustment would be tied to the fund’s performance relative to its benchmark index (and not its absolute performance), the performance adjustment could increase Putnam Management’s fee even if the fund’s shares lose value during the performance period, and could decrease Putnam Management’s fee even if the fund’s shares increase in value during the performance period. Because the performance adjustment is based on the fund’s performance relative to the benchmark over the performance period, rather th an the monthly period in which the performance adjustment affects Putnam Management’s fee, the performance adjustment could increase Putnam Management’s fee during a month when the fund underperforms its benchmark (but had outperformed its benchmark during the performance period), and could decrease Putnam Management’s fee during a month when the fund outperforms its benchmark (but had underperformed its benchmark during the performance period). Performance of the fund would be calculated net of expenses, whereas the fund’s benchmark index does not include any fees or expenses. Reinvestment of dividends and distributions would be included in calculating the performance of both the fund and the fund’s benchmark index.

Changes affecting timing of management fee computation and payment

The proposed management contract for all funds provides that management fees will be computed and paid monthly within 15

16


days after the end of each month. The current contracts of the funds contain quarterly computation and payment terms in some cases, as listed in Appendix H. These differences largely reflect practices in place at earlier times when many of the funds were first organized. Under the proposed contract, certain funds would make payments to Putnam Management earlier than they do under their current contract. This would reduce a fund’s opportunity to earn income on accrued but unpaid management fees by a small amount, but would not have a material effect on a fund’s operating costs.

The proposed change in the frequency with which fees are calculated may also result in small changes in the amount of fees paid under the management contract when the “average net assets” on which the fees are based are changing. By changing the period over which the average net assets is determined, it is possible that, as net assets move from one breakpoint to another, the new breakpoint will take effect earlier or later than it would have under a quarterly calculation and payment frequency, depending on the magnitude of the change and when it occurs during the period. These differences are expected to be immaterial in all instances and should average out over time. The proposed changes would reduce administrative burdens for the funds and for Putnam Management and would result in all Putnam funds having the same computation and payment terms.

What factors did the Independent Trustees consider
in evaluating the proposed management contracts?

The Trustees of each fund, including all of the Independent Trustees, voted unanimously to approve the proposed management contract for each fund on July 10, 2009. In considering the proposed contracts, the Independent Trustees focused largely on the specific proposed changes described above relating to management fees. They also took into account the factors that they considered in connection with their most recent annual approval on June 12, 2009 of the continuance of the funds’ current management contracts and the extensive materials that they had reviewed in connection with that approval process. Appendix I contains a summary description of the factors considered by the Trustees in connection with their June 12, 2009 approval.

Considerations relating to Fund Family fee rate calculations

The Independent Trustees considered that the proposed management contracts would change the manner in which fund shareholders share in potential economies of scale associated with the management of the funds. Under the current management contracts, shareholders of a fund benefit from increased fund size through reductions in the effective management fee paid to Putnam Management once the fund’s net assets exceed the first breakpoint in the fund’s fee schedule ($500 million for most funds). These breakpoints are measured solely by the net assets of each individual fund and are not affected by possible growth (or decline) of net assets of other funds in the Fund Family. Under the proposed management contracts, potential economies of scale would be shared ratably among shareholders of all funds, regardless of their size. The management fees paid by a fund (and indirectly by shareholders) would no longer be aff ected by the growth (or decline) of assets of the particular fund, but rather would be affected by the growth (or decline) of the aggregate net assets of all funds in the Fund Family, regardless of whether the net assets of the particular fund are growing or declining.

The Independent Trustees carefully considered the implications of this proposed change under a variety of economic circumstances. They considered the fact that at current asset levels the management fees paid by the funds under the proposed contract would be lower for almost all funds, and would not be materially higher for any fund, as shown in the table above. They considered the possibility that under some circumstances, the current management contract could result in a lower fee for a particular fund than the proposed management contract. Such circumstances might occur, for example, (i) if the aggregate net assets of the Fund Family remain largely unchanged and the net assets of an individual fund grew substantially, or (ii) if the net assets of an individual fund remain largely unchanged and the aggregate net assets of the Fund Family declined substantially.

The Independent Trustees noted that future changes in the net assets of individual funds are inherently unpredictable and that experience has shown that funds often grow in size and decline in size over time depending on market conditions and the changing popularity of particular investment styles and asset classes. They noted that, while the aggregate net assets of the Fund Family have changed substantially over time, basing a management fee on the aggregate level of assets of the Fund Family would likely reduce fluctuations in costs paid by individual funds and lead to greater stability and predictability of fund operating costs over time.

The Independent Trustees considered that the proposed management contract would likely be advantageous for newly organized funds that have yet to attract significant assets and for funds in specialty asset classes that are unlikely to grow to a significant size. In each case, such funds would participate in the benefits of scale made possible by the aggregate size of the Fund Family to an extent that would not be possible based solely on their individual size. The Independent Trustees also considered that for funds that have achieved or are likely to achieve considerable scale on their own, the proposed management contract could result in sharing of economies which might lead to slightly higher costs under some circumstances, but they noted that any such increases are immaterial at current asset levels and that over time such funds are likely to realize offsetting benefits from their opportunity to participate, both through the exchange privilege and t hrough the Fund Family breakpoint fee structure, in the improved growth prospects of a diversified Fund Family able to offer competitively priced products.

17


The Independent Trustees noted that the implementation of the proposed management contracts would result in a reduction in aggregate fee revenues for Putnam Management at current asset levels. They also noted that applying various projections of growth equally to the aggregate net assets of the Fund Family and to the net assets of individual funds also showed revenue reductions for Putnam Management. They recognized, however, the possibility that under some scenarios Putnam Management might realize greater future revenues, with respect to certain funds, under the proposed contracts than under the current contracts, but considered such circumstances to be both less likely and inherently unpredictable.

The Independent Trustees considered the extent to which Putnam Management may realize economies of scale in connection with the management of the funds. In this regard, they considered the possibility that such economies of scale as may exist in the management of mutual funds may be associated more closely with the size of the aggregate assets of the mutual fund complex than with the size of any individual fund. In this regard the Independent Trustees considered the financial information provided to them by Putnam Management over a period of many years regarding the allocation of costs involved in calculating the profitability of its mutual fund business as a whole and the profitability of individual funds. The Independent Trustees noted that the methodologies for such cost allocations had been reviewed on a number of occasions in the past by independent financial consultants engaged by the Independent Trustees. The Independent Trustees noted that thes e methodologies support Putnam Management’s assertion that many of its operating costs and any associated economies of scale are related more to the aggregate net assets under management in various sectors of its business than to the size of individual funds. They noted that on a number of occasions in the past the Independent Trustees had separately considered the possibility of calculating management fees in whole or in part based on aggregate net assets of the Putnam funds.

The Independent Trustees considered the fact that the proposed contracts would result in a sharing among the affected funds of economies of scale that for the most part are now enjoyed by the larger funds, without materially increasing the current costs of any of the larger funds. They concluded that this sharing of economies among funds was appropriate in light of the diverse investment opportunities available to shareholders of all funds through the existence of the exchange privilege. They also considered that the proposed change in management fee structure would allow Putnam Management to introduce new investment products at more attractive pricing levels than may currently be the case.

After considering all of the foregoing, the Independent Trustees concluded that the proposed calculation of management fees based on the aggregate net assets of the Fund Family represented a fair and reasonable means of sharing possible economies of scale among the shareholders of all funds.

Considerations relating to addition of fee rate adjustments based on investment performance for certain funds

The Independent Trustees considered that Putnam’s proposal to add fee rate adjustments based on investment performance to the management contracts of certain funds reflected a desire by Putnam Management to align its fee revenues more closely with investment performance in the case of certain funds. They noted that Putnam Management already has a significant financial interest in achieving good performance results for the funds it manages. Putnam Management’s fees are based on the assets under its management (whether calculated on an individual fund or complex-wide basis). Good performance results in higher asset levels and therefore higher revenues to Putnam Management. Moreover, good performance also tends to attract additional investors to particular funds or the complex generally, also resulting in higher revenues. Nevertheless, the Independent Trustees concluded that adjusting management fees based on performance for certain selected fun ds could provide additional benefits to shareholders.

The Independent Trustees noted that Putnam Management proposed the addition of performance adjustments only for certain of the funds and considered whether similar adjustments might be appropriate for other funds. In this regard, they considered Putnam Management’s belief that the addition of performance adjustments would be most appropriate for shareholders of U.S. growth funds, international equity funds and Putnam Global Equity Fund. They also considered Putnam Management’s view that it would continue to monitor whether performance fees would be appropriate for other funds. Accordingly, the Independent Trustees concluded that it would be desirable to gain further experience with the operation of performance adjustments for certain funds and the market’s receptivity to such fee structures before giving further consideration to whether similar performance adjustments would be appropriate for other funds as well.

Considerations relating to standardization of payment terms

The Independent Trustees considered the fact that standardizing the payment terms, as described above, for all funds would involve an acceleration in the timing of payments to Putnam Management for some funds and a corresponding loss of a potential opportunity for such funds to earn income on accrued but unpaid management fees. The Independent Trustees did not view this change as having a material impact on shareholders of any fund. In this regard, the Independent Trustees noted that the proposed contracts conform to the payment terms included in management contracts for all Putnam funds organized in recent years and that standardizing payment terms across all funds would reduce administrative burdens for both the funds and Putnam Management.

Considerations relating to comparisons with management fees and total expenses of competitive funds

As part of their evaluation of the proposed management contracts, the Independent Trustees also reviewed the general approach taken by Putnam Management and the Independent

18


Trustees in recent years in imposing appropriate limits on total fund expenses. As part of the annual contract review process in recent years, Putnam Management agreed to waive fees as needed to limit total fund expenses to a maximum level equal to the average total expenses of comparable competitive funds in the mutual fund industry. In connection with its proposal to implement new management contracts, Putnam Management also proposed, and the Independent Trustees approved, certain changes in this approach that shift the focus from controlling total expenses to imposing separate limits on certain categories of expenses. As a general matter, Putnam Management and the Independent Trustees concluded that management fees for the Putnam funds are competitive with the fees charged by comparable funds in the industry. Nevertheless, the Independent Trustees considered specific management fee waivers proposed to be implemented as of August 1, 2009 by Putnam Ma nagement with respect to the current management fees of certain funds, as well as projected reductions in management fees for almost all funds that would result under the proposed contracts. Putnam Management and the Independent Trustees also agreed to impose separate expense limitations of 37.5 basis points on the general category of shareholder servicing expenses and 20 basis points on the general category of other ordinary operating expenses. These new expense limitations were implemented for all funds effective as of August 1, 2009. These changes resulted in lower total expenses for many funds, but in the case of some funds, total expenses increased after application of the new waivers and expense limitations (as compared with the results obtained using the expense limitation method previously in place). In this regard, the Independent Trustees considered the likelihood that total expenses for most of these funds would have increased in any event in the normal course under the previous expense limitation arrangement, as the reported total expense levels of many competitive funds increased in response to the major decline in asset values that began in September 2008. These new waivers and expense limitations will continue in effect until at least July 31, 2010 and will be re-evaluated by the Independent Trustees as part of the annual contract review process prior to their scheduled expiration. However, the management fee waivers referred to above would largely become permanent reductions in fees as a result of the implementation of the proposed management contracts.

General conclusion

After considering the factors described above relating to the specific changes included in the proposed management contracts, and taking into account all of the factors considered by the Independent Trustees as part of their recent approval of the continuance of the management contracts of all funds on June 12, 2009, the Independent Trustees concluded that implementation of the proposed management contract for each fund would be in the best interests of shareholders of the fund and unanimously approved the proposed management contract.

What are the Trustees recommending?

The Trustees of your fund, including all of the Independent Trustees, unanimously recommend that shareholders approve the proposed management contract with Fund Family breakpoints and, in the case of certain funds, performance fees.

As noted below under “General Plan for Implementation of Proposed Management Contracts”, for the 13 funds for which new performance fees are proposed, the Trustees also recommend that shareholders approve proposed management contracts providing for each, but not both, of Fund Family breakpoints and performance fees. The Trustees recommend that shareholders of these funds vote FOR each of the three alternatives, but intend to implement a new management contract that includes both Fund Family breakpoints and performance fees if that alternative is approved by shareholders.

What is the voting requirement for approval of the
proposed contracts?

Approval of the proposed management contract for each fund requires the affirmative vote of the lesser of (a) the holders of 67% or more of the shares of the fund present (in person or by proxy) and entitled to vote at the meeting, if the holders of more than 50% of the outstanding shares of the fund entitled to vote at the meeting are present in person or by proxy, or (b) the holders of more than 50% of the outstanding shares of the fund entitled to vote at the meeting.

General Plan for Implementation of Proposed
Management Contracts

If this proposal is approved by the shareholders of your fund, it is expected that the proposed management contract would be implemented for your fund on January 1, 2010 (or, if later, the first day of the first calendar month following shareholder approval). The Independent Trustees and Putnam Management currently intend to implement the new contracts only if they are approved by shareholders of substantially all the funds. If shareholders of a significant number of funds do not approve the new contracts containing Fund Family breakpoints, the Independent Trustees and Putnam Management currently intend to leave the current contract in place for all funds, except that they would intend to implement any new performance fees approved by shareholders, and will consider such other actions as may be appropriate in the circumstances. The Independent Trustees and Putnam Management may also determine not to implement the proposed new contract, even though appr oved by shareholders, under various other circumstances, such as where certain funds are marketed together as a group of related funds and the proposed contracts are not approved for all funds in such group, and other circumstances where it is believed that the implementation of the proposed contracts may result in administrative complexities or shareholder confusion. In the event that the proposed contract is not implemented for a fund for any reason, the current management contract of such fund will continue in effect.

19


If implemented, the proposed management contract for each fund would remain in effect (unless terminated) through June 30, 2010, and would continue in effect from year to year thereafter so long as its continuance is approved at least annually by (i) the Trustees, or the shareholders by the affirmative vote of a majority of the outstanding shares of your fund, and (ii) a majority of the Independent Trustees, by vote cast in person at a meeting called for the purpose of voting on such approval.

For funds with proposed new performance adjustments

Shareholders of those 13 funds for which performance adjustments are being proposed as part of the proposed new management contracts will be asked to vote separately on three alternative new management contracts: (i) Proposal 2.A. — a contract containing both the proposed new management fee schedule based on aggregate Fund Family assets and the proposed new performance adjustments, (ii) Proposal 2.B. — a contract containing the proposed new management fee schedule based on aggregate Fund Family assets only, and (iii) Proposal 2.C. — a contract containing the proposed new performance adjustments only. (All three alternatives would include the standardization of payment terms described above.) The Trustees recommend that shareholders of these funds vote FOR each of the three alternatives, but intend to implement Proposal 2.A. — that is, a new contract containing both new features — if that alternative is approved by shareholde rs.

Other Information

A brief description of the terms of the affected funds’ current management contracts, as well as the date of each fund’s current management contract, the date on which it was last approved by shareholders and the purpose of the submission to shareholders are set forth in Appendix J.

The tables included at Appendix K show examples of seven funds’ current total annual operating expenses (as a percentage of average net assets) under the current management contract and pro forma total annual operating expenses under the proposed management contract, in each case assuming fund assets and Fund Family assets as of June 30, 2009 throughout the period. Examples that translate each fund’s annual operating expenses into dollar amounts, showing the cumulative effect of these costs over time, are also presented. For these seven funds — Putnam Asset Allocation: Growth Portfolio, Putnam Convertible Income-Growth Trust, The Putnam Fund for Growth and Income, Putnam Global Health Care Fund, Putnam International Equity Fund, Putnam Investors Fund, and Putnam Voyager Fund — the operation of Fund Family breakpoints under the proposed management contract is projected, based on June 30, 2009 fund assets, to result in an immaterially higher management fee.

The tables included at Appendix L show for each fund the dollar amount of the management fee that would have been paid under the current management contract, the amount Putnam Management would have received under the proposed management contract, and the difference between the two, assuming fund assets and Fund Family assets as of June 30, 2009 throughout the period.

3. ADOPTION OF UPDATED AND STANDARDIZED
FUNDAMENTAL INVESTMENT RESTRICTIONS

As described in the following proposals, the Trustees recommend that shareholders of certain funds approve revisions to certain fundamental investment restrictions of such funds. Generally, the purpose of these proposed changes is to increase each fund’s investment flexibility to the extent permitted by applicable law and regulations, and to reduce administrative and compliance burdens by standardizing these fundamental investment restrictions across all similarly situated Putnam funds.

Background. The 1940 Act requires registered investment companies like the funds to have “fundamental” investment restrictions governing certain of their investment practices. Investment companies may also voluntarily designate restrictions relating to other investment practices as fundamental. “Fundamental” investment restrictions can be changed only by a shareholder vote.

Proposed revisions to certain of the fundamental investment restrictions of the funds are discussed below. By revising these fundamental investment restrictions, the Trustees believe that Putnam Management will be better able to manage the funds in a changing regulatory or investment environment. In addition, the Trustees believe that the process of monitoring the funds’ compliance with investment restrictions will be simplified as these restrictions are standardized across all similarly situated Putnam funds, thereby reducing administrative and compliance burdens.

3.A.: APPROVING AN AMENDMENT TO
CERTAIN FUNDS’ FUNDAMENTAL INVESTMENT
RESTRICTIONS WITH RESPECT TO INVESTMENTS
IN COMMODITIES

Affected funds:

Putnam Absolute Return 100 Fund
Putnam Absolute Return 300 Fund
Putnam Absolute Return 500 Fund
Putnam Absolute Return 700 Fund
Putnam Asia Pacific Equity Fund
Putnam Asset Allocation: Balanced Portfolio
Putnam Asset Allocation: Conservative Portfolio
Putnam Asset Allocation: Equity Portfolio
Putnam Asset Allocation: Growth Portfolio
Putnam Capital Spectrum Fund
Putnam Emerging Markets Equity Fund
Putnam Equity Spectrum Fund
Putnam Global Consumer Fund
Putnam Global Energy Fund
Putnam Global Financials Fund
Putnam Global Health Care Fund
Putnam Global Industrials Fund
Putnam Global Natural Resources Fund

20


Putnam Global Technology Fund
Putnam Global Telecommunications Fund
Putnam Global Utilities Fund
Putnam Income Strategies Fund
Putnam VT Global Asset Allocation Fund
Putnam VT Global Health Care Fund
Putnam VT Global Utilities Fund

What is this proposal?

Under the 1940 Act, a fund’s investment policy relating to the purchase and sale of commodities must be fundamental. Commodities include physical commodities, such as gold and other metals, agricultural products, and oil, as well as certain financial instruments, such as futures contracts and related options. Appendix M lists the current fundamental investment restrictions of each of the affected funds with respect to commodities.

Although the current restriction for all of the affected funds expressly permits investments in financial instruments that could be deemed to be commodities under the federal securities and commodities laws, and for many of the affected funds expressly permits investments in financial instruments whose values are determined by reference to physical commodities, it prohibits direct investment in physical commodities.

In order to afford Putnam Management the maximum investment flexibility in pursuing each fund’s investment objective, the Trustees recommend that each fund’s fundamental investment restriction with respect to investments in commodities be revised to permit the funds to invest in physical commodities, in addition to financial instruments, to the extent permitted by applicable law. Putnam Management believes that at times it may be advantageous for the funds to obtain exposure to gold and other commodities by investing directly in the physical commodities. This proposal would permit your fund to obtain exposure to commodities, whether through direct investment in physical commodities or through related financial instruments, in the manner Putnam Management deems most efficient from time to time, as from time to time authorized by the Trustees. The proposed amended fundamental investment restriction would state that your fund may not:

“Purchase or sell commodities, except as permitted by applicable law.”

What effect will amending the current restriction
with respect to investments in commodities have on
your fund?

Under the proposed fundamental investment restriction, each fund will be able to invest directly in gold and other physical commodities, as well as engage in a variety of transactions involving the use of commodity-linked investments, including commodity-based exchange-traded funds or notes (ETFs or ETNs) and commodity-linked notes, to the extent consistent with the fund’s investment objectives and policies, as well as applicable law.

Putnam Management believes that this investment flexibility could assist your fund in achieving its investment objective, both because commodities and commodity-linked investments may offer the opportunity for attractive investment returns and because economic exposure to gold or other commodities through these investments may enhance the ability of the fund to diversify risks, particularly to the extent that the returns of commodities are not correlated with the returns of other asset classes in which the fund invests.

In order to maintain their special status as regulated investment companies under the Internal Revenue Code of 1986, as amended (the “Code”), the funds must limit any “non-qualifying income” to a maximum of 10% of their annual gross income. Generally, a fund’s investments in commodity-linked derivatives or physical commodities will be limited by this requirement. However, the Internal Revenue Service has recently issued guidance clarifying its position that certain instruments that create commodity exposure (e.g., commodity-linked structured notes) can generate “qualifying income” for a regulated investment company, thus allowing a fund to invest in such instruments without jeopardizing its status under the Code. While Putnam Management presently has no specific intention to change any fund’s exposures to commodities or commodity-linked investments in response to the revision of the funds’ investment restric tions, this intention is subject to change based on Putnam Management’s assessment of both market conditions at any given time and those investments most likely to assist your fund in meeting its investment objective. More generally, your fund intends to limit its investment in commodities and commodity-linked investments to the extent necessary to qualify as a regulated investment company under the Code.

While commodities and commodity-linked investments offer significant potential benefits to the funds, investment in this asset class presents particular risks as well. The values of commodities and commodity-linked investments may be highly volatile, and may be subject to a wide variety of risks relevant to particular physical commodities (such as the risks of drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments) to which the markets for other investments are not typically subject. Investments in physical commodities may also involve different custody arrangements and greater custody risks than other types of investments. Commodity-linked investments may involve the risk of exposure to the effects of leverage, which could increase the fund’s market exposure and potential losses. Commodities and commodity-linked investments are subject to the risk that their prices may cor relate with changes in the value of other investments in ways that Putnam Management did not anticipate. Commodities and commodity-linked investments are also subject to the risk that a counterparty will be unwilling or unable to meet its obligations to the funds. In addition, the fund may be unable to sell its commodities and commodity-linked investments when Putnam Management believes it is desirable to do so.

21


What are the Trustees recommending?

The Trustees unanimously recommend that shareholders approve an amendment to each affected fund’s fundamental investment restriction with respect to investments in commodities.

What is the voting requirement for approving
the proposal?

Approval of the proposed amendment to each affected fund’s fundamental investment restriction requires the affirmative vote of the lesser of (a) more than 50% of the outstanding shares of the affected fund, or (b) 67% or more of the shares of the affected fund present (in person or by proxy) at the meeting if more than 50% of the outstanding shares of the affected fund are present at the meeting in person or by proxy.

3.B. APPROVING AN AMENDMENT TO CERTAIN
FUNDS’ FUNDAMENTAL INVESTMENT
RESTRICTIONS WITH RESPECT TO
DIVERSIFICATION OF INVESTMENTS

Affected funds:

Putnam Europe Equity Fund
Putnam Global Utilities Fund
Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam New Opportunities Fund

What is this proposal?

The Trustees recommend that each affected fund’s fundamental investment restriction with respect to the diversification of its investments be revised.

• For Putnam Global Utilities Fund, the proposed revision would change the fund’s classification from a “diversified” fund to a “non-diversified” fund under the 1940 Act, thereby conforming the fund’s restriction to the standard restriction currently used by Putnam’s other global sector funds and providing additional flexibility to the fund to more closely track its benchmark in the event that the benchmark became more concentrated.

• For each of the other affected funds, the proposed revision would afford these funds greater flexibility to invest in securities issued by other investment companies, and would conform this restriction to the standard restriction currently used by Putnam’s other diversified funds.

Appendix N lists the current fundamental investment restrictions of each of the affected funds with respect to diversification.

Background. Under the 1940 Act, a “diversified” fund generally may not, with respect to 75% of its total assets, invest more than 5% of its total assets in the securities of any one issuer (except U.S. government securities, cash, cash items or the securities of other investment companies). The remaining 25% of the fund’s total assets is not subject to this restriction.

A “non-diversified fund” is not subject to this 1940 Act restriction, but is subject to similar rules under the Code, which require that a fund diversify its holdings at the end of each fiscal quarter such that, with respect to 50% of the fund’s total assets, the fund does not have more than 5% of its total assets invested in any one issuer. The remaining 50% of the fund’s assets is not subject to this 5% limitation, although the fund may not invest more than 25% of its total assets in any one issuer. Neither of these Code requirements applies to U.S. government securities, cash, cash items or the securities of other regulated investment companies. (Under the Code, neither a diversified nor a non-diversified fund may invest more than 25% of its total assets in any one issuer.)

The proposed amended fundamental restriction would state that your fund may not:

“With respect to [50% (Putnam Global Utilities Fund)]/[75% (All other affected funds)] of its total assets, invest in securities of any issuer if, immediately after such investment, more than 5% of the total assets of the fund (taken at current value) would be invested in the securities of such issuer; provided that this limitation does not apply to obligations issued or guaranteed as to interest or principal by the U.S. government or its agencies or instrumentalities or to securities issued by other investment companies.”

What effect will amending the current restriction
with respect to diversification of investments have
on your fund?

For Putnam Global Utilities Fund, the proposed change would allow the fund to become a non-diversified fund, able to invest more of its assets in the securities of fewer issuers than a diversified fund. The fund would be exposed to non-diversification risk, as its ability to invest more of its assets in the securities of fewer issuers would increase its vulnerability to factors affecting a single investment; therefore the fund may be more exposed to the risks of loss and volatility than a fund that invests more broadly.

For each of the other affected funds, the proposed change would allow such diversified funds to exclude investments in other investment companies from the 1940 Act and Code limitations described above. While Putnam Management does not currently expect that any of these funds will invest in securities of other investment companies to a significant extent, other than investments in one or more money market funds, Putnam Management believes that this investment flexibility could, in the future, assist your fund in achieving its investment objective. In addition, the proposed changes would reduce administrative and compliance burdens by conforming this restriction to the standard restriction currently used by Putnam’s other diversified funds.

22


What are the Trustees recommending?

The Trustees unanimously recommend that shareholders approve an amendment to each affected fund’s fundamental investment restriction with respect to diversification of investments.

What is the voting requirement for approving
the proposal?

Approval of this proposal requires the affirmative vote of the lesser of (1) more than 50% of the outstanding shares of the affected fund, or (2) 67% or more of the shares of the affected fund present at the meeting if more than 50% of the outstanding shares of the affected fund are present at the meeting in person or by proxy.

3.C. APPROVING AN AMENDMENT TO CERTAIN
FUNDS’ FUNDAMENTAL INVESTMENT
RESTRICTIONS LIMITING THE PERCENTAGE
OF THE VOTING SECURITIES OF ANY ISSUER
THAT MAY BE ACQUIRED

Affected funds:

Putnam Global Natural Resources Fund
Putnam Global Utilities Fund

What is this proposal?

The Trustees recommend that Putnam Global Natural Resources Fund’s and Putnam Global Utilities Fund’s fundamental investment restriction with respect to the acquisition of voting securities of any issuer be conformed to the standard restriction currently used by Putnam’s other global sector funds. The proposed change would afford your fund greater flexibility in acquiring the voting securities of a single issuer.

Your fund’s current fundamental investment restriction with respect to the acquisition of voting securities of any issuer states that your fund may not:

“With respect to 75% of its total assets, acquire more than 10% of the outstanding voting securities of any issuer.”

The proposed amended fundamental restriction would state that your fund may not:

“With respect to 50% of its total assets, acquire more than 10% of the outstanding voting securities of any issuer.”

What effect will amending the current restriction
with respect to the acquisition of voting securities
of any issuer have on your fund?

Putnam Management believes that the additional investment flexibility afforded by the proposed restriction could assist your fund in achieving its investment objective. In addition, the proposed change would also align your fund’s fundamental investment restriction with that of all other non-diversified Putnam funds. This would reduce administrative and compliance burdens for your fund.

What are the Trustees recommending?

The Trustees unanimously recommend that shareholders approve an amendment to each affected fund’s fundamental investment restriction with respect to the acquisition of voting securities.

What is the voting requirement for approving
the proposal?

Approval of this proposal requires the affirmative vote of the lesser of (1) more than 50% of the outstanding shares of the affected fund, or (2) 67% or more of the shares of the affected fund present at the meeting if more than 50% of the outstanding shares of the affected fund are present at the meeting in person or by proxy.

3.D. APPROVING AN AMENDMENT TO CERTAIN
FUNDS’ FUNDAMENTAL INVESTMENT
RESTRICTIONS WITH RESPECT TO BORROWING

Affected funds:

Putnam Europe Equity Fund
Putnam Global Natural Resources Fund
Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam New Jersey Tax Exempt Income Fund
Putnam New Opportunities Fund
Putnam Vista Fund

What is this proposal?

The Trustees recommend that each affected fund’s fundamental investment restriction with respect to borrowing be revised to reflect the standard restriction for other Putnam funds. Under the 1940 Act, a fund may borrow up to 33 1/3% of its total assets, subject to any more restrictive policy adopted by the fund. Each affected fund’s current restriction is more restrictive than the 1940 Act requires. Appendix O lists the current fundamental investment restriction with respect to borrowing of each of the affected funds. The proposed fundamental investment restriction would state that your fund may not:

“Borrow money in excess of 33 1/3% of the value of its total assets (not including the amount borrowed) at the time the borrowing is made.”

What effect will amending the current restriction
with respect to borrowing have on your fund?

If the proposed change is approved, each affected fund would be permitted to borrow for the purpose of making additional investments, although Putnam Management currently has no intention of borrowing for such purpose. Borrowing to make additional investments would allow a fund to profit if the return on such investments exceeds the interest on the borrowing, but would result in increased losses if the return on such investments is less than the interest on the borrowing. This is known as leverage risk. Generally, if a fund borrows money, its net assets

23


tend to increase or decrease to a greater extent with market changes than if the fund had not borrowed money.

The proposed restriction would also allow the affected funds to borrow from lenders other than banks, to the extent permitted by the 1940 Act. In a separate proposal (see Proposal 3.E. below), shareholders of these affected funds are being asked to approve an amendment to each affected fund’s restriction on lending. The proposed revisions would, subject to the limitation discussed in Proposal 3.E., permit each affected fund to participate in an “interfund lending program” under an exemptive order granted to the Putnam funds by the SEC which would allow the fund, through a master loan agreement, to lend available cash to and borrow from other Putnam funds. Each affected fund would be able to borrow money under the interfund lending program only if the interest rate on the loan is more favorable to the fund than the interest rates otherwise available for short-term bank loans, as well as being more favorable to the lending fund than availa ble repurchase agreement rates.

Putnam Management believes that the ability to engage in interfund lending transactions may allow a fund to pay lower interest rates on its borrowings. An affected fund could, in certain circumstances, have its loan recalled by a lending fund on one day’s notice. Under these circumstances, the affected fund might have to borrow from a bank at a higher interest rate if loans were not available from other Putnam funds.

All in all, Putnam Management believes that the proposed restriction could assist your fund in achieving its investment objective. In addition, the proposed restriction would align your fund’s fundamental investment restriction with that of all other Putnam funds, which would reduce administrative and compliance burdens for your fund.

What are the Trustees recommending?

The Trustees unanimously recommend that shareholders approve an amendment to each affected fund’s fundamental investment restriction with respect to borrowing.

What is the voting requirement for approving
the proposal?

Approval of this proposal requires the affirmative vote of the lesser of (1) more than 50% of the outstanding shares of the affected fund, or (2) 67% or more of the shares of the affected fund present at the meeting if more than 50% of the outstanding shares of the affected fund are present at the meeting in person or by proxy.

3.E. APPROVING AN AMENDMENT TO CERTAIN
FUNDS’ FUNDAMENTAL INVESTMENT
RESTRICTIONS WITH RESPECT TO MAKING LOANS

Affected funds:

Putnam Europe Equity Fund
Putnam Global Natural Resources Fund
Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam New Jersey Tax Exempt Income Fund
Putnam New Opportunities Fund
Putnam Vista Fund

What is this proposal?

The Trustees recommend that each affected fund’s fundamental investment restriction with respect to making loans be revised to reflect the standard restriction used by other Putnam funds. This change would remove any limitations on each affected fund’s ability to enter into repurchase agreements and securities loans and would clarify that each affected fund is permitted (subject to the limitation discussed in Proposal 3.D.) to participate in the proposed interfund lending program first described in Proposal 3.D. Each affected fund currently has one of the following fundamental investment restrictions which states that such affected fund may not:

“Make loans, except by purchase of debt obligations in which the fund may invest consistent with its investment policies, by entering into repurchase agreements, or by lending its portfolio securities.” (All affected funds except Putnam Growth Opportunities Fund and Putnam International Capital Opportunities Fund)

OR 

“Make loans, except by purchase of debt obligations in which the fund may invest consistent with its investment policies, by entering into repurchase agreements with respect to not more than 25% of its total assets (taken at current value) or through the lending of its portfolio securities with respect to not more than 25% of its total assets (taken at current value).” (Putnam Growth Opportunities Fund and Putnam International Capital Opportunities Fund)

The proposed fundamental investment restriction would state that your fund may not:

“Make loans, except by purchase of debt obligations in which the fund may invest consistent with its investment policies (including without limitation debt obligations issued by other Putnam funds), by entering into repurchase agreements, or by lending its portfolio securities.”

What effect will amending the current restriction
with respect to making loans have on your fund?

Following the amendment, each affected fund may, consistent with its investment objective and policies and applicable law, enter into repurchase agreements and securities loans without limit. Putnam Management believes that this increased investment flexibility could assist each affected fund in achieving its investment objective.

When a fund enters into a repurchase agreement, it typically purchases a security for a relatively short period (usually not more than one week), which the seller agrees to repurchase at a fixed time and price, representing the fund’s cost plus interest. When a fund enters into a securities loan, it lends certain of its portfolio securities to broker-dealers or other parties, typically in exchange for a portion of the interest earned on the collat-

24


eral posted by the borrower. These transactions must be fully collateralized at all times, but involve some risk to the fund in the event of losses on the investment of the collateral posted by the borrower or if the borrower should default on its obligation. If the borrower in these transactions should become involved in bankruptcy or insolvency proceedings, it is possible that the fund may be treated as an unsecured creditor and be required to return the underlying collateral to the borrower’s estate.

If the proposal is approved, each affected fund also would be able to participate in an interfund lending program and make loans to other Putnam funds for short-term purposes. As discussed in Proposal 3.D., a fund would only make loans under the program if it could receive an interest rate higher than those available for repurchase agreements. There is a risk that a fund could experience a delay in obtaining prompt repayment of a loan and, unlike repurchase agreements, the fund would not necessarily have received collateral for its loan. A delay in obtaining prompt payment could cause a fund to miss an investment opportunity or to incur costs to borrow money to replace the delayed payment.

Finally, the proposed restriction would align your fund’s fundamental investment restriction with that of all other Putnam funds, which would reduce administrative and compliance burdens for your fund.

What are the Trustees recommending?

The Trustees unanimously recommend that shareholders approve an amendment to each affected fund’s fundamental investment restriction with respect to making loans.

What is the voting requirement for approving
the proposal?

Approval of this proposal requires the affirmative vote of the lesser of (1) more than 50% of the outstanding shares of the affected fund, or (2) 67% or more of the shares of the affected fund present at the meeting if more than 50% of the outstanding shares of the affected fund are present at the meeting in person or by proxy.

4. ADOPTION OF MODERNIZED AND
STANDARDIZED AGREEMENT AND DECLARATION
OF TRUST PROVISIONS

As described in the following proposals, the Trustees recommend that shareholders of certain funds, each the sole series of a trust, approve amendments to certain provisions of the funds’ agreements and declarations of trust (each a “Declaration of Trust”). Each fund’s Declaration of Trust provides that it may be amended by the Trustees when authorized by a fund’s shareholders.

The proposed amendments to the Declarations of Trust are discussed below. Generally, the purpose of these proposed changes is to modernize and standardize these provisions. The Trustees believe that the proposed amendments will facilitate the efficient administration of the funds’ operations.

4.A. APPROVING AN AMENDMENT TO CERTAIN
FUNDS’ AGREEMENTS AND DECLARATIONS OF
TRUST WITH RESPECT TO THE DURATION OF
THE TRUST

Affected funds:

The Putnam Fund for Growth and Income
The George Putnam Fund of Boston
Putnam Money Market Fund
Putnam Tax Exempt Income Fund

What is this proposal?

The Declaration of Trust of each of the affected funds currently provides that the trust terminates automatically either twenty or twenty-one years after the death of the initial Trustees and their enumerated children. Appendix P sets forth the current termination provision of each affected fund’s Declaration of Trust. These provisions appear to have been included for legal reasons that no longer appear to be pertinent. The Trustees have been advised by fund counsel that such provisions are not necessary in light of increased clarity in the law regarding Massachusetts business trusts. The Trustees believe these provisions are likely contrary to the expectations of typical fund shareholders, who would not expect the trust to terminate automatically (absent approval by shareholders of an amendment to the Declaration of Trust of the type proposed) on a date that is entirel y unrelated to the business of any fund. As set forth below, the proposed amendment to each Declaration of Trust provides for the perpetual life of the trust unless terminated by the Trustees,1 which would replace the current language contained in Appendix P:

Duration and Termination of Trust (Putnam Money Market Fund and Putnam Tax Exempt Income Fund)

Unless terminated as provided herein, the Trust shall continue without limitation of time. The Trust may be terminated at any time by the Trustees by written notice to the Shareholders.

Duration and Termination of Trust (The Putnam Fund for Growth and Income and The George Putnam Fund of Boston)

Unless terminated as provided herein, the Trust shall continue without limitation of time. The Trust may be terminated at any time by the Trustees by written notice to the beneficiaries. Upon termination of this Trust the Trustees shall make provision for the payment of the expenses and liabilities of the Trust and of the Trustees and distribute the remaining assets, or sell and dispose of all or any part thereof and distribute the net proceeds thereof in cash and/or securities among the holders of such shares in proportion to their holdings, except to the extent otherwise required or permitted by the preferences and special or relative rights and privileges of any classes of shares of the Trust, provided that any distribution to the beneficiaries of a particular class of

1 Amending Article VI, Section 3 in the Declarations of Trust of The Putnam Fund for Growth and Income and The George Putnam Fund of Boston, and Article IX, Section 4 in the Declarations of Trust of Putnam Money Market Fund and Putnam Tax Exempt Income Fund.

25


shares shall be made to such beneficiaries pro rata in proportion to the number of shares of such class held by each of them.

What effect would the proposed Declaration of
Trust amendment with respect to the duration of the
trust have on your fund?

The proposed amendment would eliminate the risk that the affected funds would automatically terminate following the deaths of the initial Trustees and their enumerated children. The proposed amendment would also reduce administrative and compliance burdens for the funds by eliminating the need to monitor for the death of the initial Trustees and their enumerated children. In addition, the proposed amendment would also more closely align the affected funds’ termination provisions with those of the other Putnam funds.

What are the Trustees recommending?

The Trustees unanimously recommend that shareholders approve an amendment to each fund’s Declaration of Trust with respect to the duration of the trust.

What is the voting requirement for approving
the proposal?

For each trust, all shares will vote together as a single class, and approval of this proposal requires the affirmative vote of shareholders holding a majority of shares entitled to vote.

4.B. APPROVING AN AMENDMENT TO CERTAIN
FUNDS’ AGREEMENTS AND DECLARATIONS OF
TRUST WITH RESPECT TO REDEMPTION AT THE
OPTION OF THE TRUST

Affected funds:

The Putnam Fund for Growth and Income
The George Putnam Fund of Boston

What is this proposal?

The Trustees recommend that the Declarations of Trust of The Putnam Fund for Growth and Income and The George Putnam Fund of Boston be amended to expressly provide that the trust has the right to redeem shares at its option where shareholders do not meet a minimum threshold or exceed a maximum threshold of share ownership in the trust. Currently, the funds’ Declarations of Trust are silent as to the ability of the trust to redeem shares at its option. The proposed amendments would add the following provision to each fund’s Declaration of Trust:2

The Trust shall have the right at its option and at any time to redeem shares of any beneficiary at the net asset value thereof as determined in accordance with the Bylaws: (i) if at such time such beneficiary owns fewer shares than, or shares having an aggregate net asset value of less than, an amount determined from time to time by the Trustees; or (ii) to the extent that such beneficiary owns shares of a particular series of shares equal to or in excess of a percentage of the outstanding shares of that series determined from time to time by the Trustees; or (iii) to the extent that such beneficiary owns shares of the Trust representing a percentage equal to or in excess of such percentage of the aggregate number of outstanding shares of the Trust or the aggregate net asset value of the Trust determined from time to time by the Trustees.

What effect would the proposed Declaration of
Trust amendment with respect to redemption at the
option of the trust have on your fund?

The addition of this provision to the funds’ Declarations of Trust would allow the funds to redeem small or large accounts (subject to applicable legal and regulatory requirements) when the Trustees determine that it would be in the best interests of the funds to do so, and would align the funds’ Declarations of Trust with those of the other Putnam funds in this regard. This would reduce administrative and compliance burdens for the funds.

What are the Trustees recommending?

The Trustees unanimously recommend that shareholders approve an amendment to each fund’s Agreement and Declaration of Trust with respect to redemption at the option of the trust.

What is the voting requirement for approving
the proposal?

For each trust, all shares will vote together as a single class, and approval of this proposal requires the affirmative vote of shareholders holding a majority of shares entitled to vote.

5. CONSIDERING A SHAREHOLDER PROPOSAL
FOR TWO FUNDS REQUESTING THAT THE BOARD
INSTITUTE PROCEDURES TO PREVENT THE FUNDS
FROM HOLDING INVESTMENTS IN COMPANIES
THAT, IN THE JUDGMENT OF THE BOARD,
SUBSTANTIALLY CONTRIBUTE TO GENOCIDE OR
CRIMES AGAINST HUMANITY

Affected funds:

Putnam Asset Allocation: Growth Portfolio
Putnam Voyager Fund

What is this proposal?

Certain shareholders of Putnam Asset Allocation: Growth Portfolio and Putnam Voyager Fund have advised the funds that they intend to present the following shareholder proposal at the meeting. For the reasons set forth after the proposal, the Trustees recommend a vote “AGAINST” the proposal.

The text of the proposal submitted by the shareholders and their supporting statement are quoted in their entirety below:

WHEREAS:

Putnam portfolio managers make investment decisions based on financial and legal considerations while seeming to ignore other issues. Even in the face of the most egregious violations of human rights, such as genocide, Putnam has released no policy to prevent investments that help fund or support such human rights violations.

2 As Article VI, Section 6 in the Declaration of Trust of The Putnam Fund for Growth and Income and as Article VI, Section 5 in the Declaration of Trust of The George Putnam Fund of Boston.

26


Ordinary individuals, through their investments in Putnam, may inadvertently invest in companies funding genocide because of investment decisions made on their behalf by Putnam. With no policy to prevent these problem investments, Putnam may at any time increase its holdings or involve new funds in such problem investments.

[For Putnam Voyager Fund:]

We believe that this problem is not merely theoretical, since many mutual funds are large holders of PetroChina, which, through its closely related parent, China National Petroleum Company, is providing funding that the Government of Sudan uses to conduct genocide in Darfur.

[For Putnam Asset Allocation: Growth Portfolio:]

We believe that this problem is not merely theoretical, since Putnam was one of the largest holders of PetroChina, which, through its closely related parent, China National Petroleum Company, is providing funding that the Government of Sudan uses to conduct genocide in Darfur.

[For both funds:]

We believe that in the face of the most extreme human rights crises investors share responsibility to act, individually and collectively, in addition to the role and responsibility of governments.

We believe that investors do not want their pensions and family savings connected to genocide. In KRC Research’s 2007 study, 71% of respondents said companies should take extreme cases of human rights abuses, such as genocide, into account rather than base investment decisions solely on economic criteria. Further, over 150,000 people have objected to financial firms about such problem investments. Reasonable people may disagree about what constitutes socially responsible investing, but few people want their savings to be complicit in genocide.

We believe that negative publicity resulting from the many national press reports and widespread consumer protests can damage the company’s reputation, hurt employee morale, increase its cost to acquire customers, and reduce the shareholder base for distributing expenses, all of which can negatively impact Putnam shareholders.

We see no compelling reason to invest in companies that fund genocide. We believe there are ample competitive alternatives and flexibility of investment choices, even with index funds. As noted by Gary Brinson’s classic study, investment returns are affected much more by asset allocation than by individual security selections, so avoiding a small number of problem companies need not result in any significant effect on performance.

Investor pressure has proven effective in influencing foreign governments. The campaign against Talisman Energy contributed to the January 2005 Comprehensive Peace Agreement between Khartoum and South Sudan.

RESOLVED:

Shareholders request that the Board institute procedures to prevent holding investments in companies that, in the judgment of the Board, substantially contribute to genocide or crimes against humanity, the most egregious violations of human rights.

DISCUSSION:

In addition to preventing future investments in problem companies, the proposal calls for corrective action to address existing investments in problem companies. If the fund can effectively influence the problem company’s management, then this may be an appropriate action. If not, the security should be sold.

This concludes the text of the proponents’ proposal and supporting statement. No fund is responsible for the contents of the proposal or the supporting statements. A fund will provide the names, addresses, and shareholdings (to the fund’s knowledge) of the proponents of the shareholder proposal promptly upon written request sent to the Clerk of the fund, attention “Fund Shareholder Meetings,” One Post Office Square, Boston, Massachusetts 02109, or by calling 1-800-225-1581 (this is a phone line set up to handle these requests; if you have any requests regarding how to vote your shares, please call 1-866-451-3787).

The Trustees’ Response to the Shareholder Proposal
and Recommendation

Why are the Trustees recommending a vote against
the proposals?

The Trustees condemn genocide, crimes against humanity and similar egregious violations of basic human rights. However, for the reasons set forth below, the Trustees recommend a vote against the shareholder proposals.

The U.S. Government maintains a comprehensive set of laws and regulations governing business relationships with countries that are believed to be responsible for egregious violations of basic human rights. These laws and regulations reflect consideration by experienced foreign policy experts of the nature of the particular problems in each country and often involve complex judgments whether certain types of business relationships might contribute to the problems in a particular country or, alternatively, might contribute to improving the conduct of the political regimes involved and the living conditions of the local populations. Putnam Management is committed to complying fully with all such laws and regulations currently in effect or that the U.S. Government might enact in the future with respect to investments in companies doing business with or in particular countries.

The proposed shareholder resolution calls upon the Board of Trustees to establish procedures and exercise its own judgment on these matters. The Trustees believe that this proposal would involve the Board in making judgments on matters that are beyond the range of its expertise and would inappropriately involve the Board in the process of making investment judgments for your fund’s portfolio.

27


As a general matter, the Trustees also believe that imposing constraints on the range of investment opportunities legally available to your fund solely because of political or social considerations would not be in the best interests of shareholders. Under your fund’s management contract with Putnam Management, Putnam Management has a fiduciary duty to examine the entire universe of potential investments to identify attractive securities in its efforts to deliver superior long-term investment results for clients. The available investment universe for each fund is defined by its stated investment objective and policies, as limited by applicable laws as noted above. Putnam Management has advised the Trustees that the process of identifying attractive securities for a fund’s portfolio includes an assessment of all relevant factors that could impact a security’s future value, including, for example, the risks associated with doing business wi th or in countries that are accused of egregious human rights violations. The Trustees believe that shareholders have invested in a fund based on the expectation that a fund would pursue the broad range of investment opportunities described in its prospectus and that it would not be appropriate to begin imposing additional limitations at this time based solely on political and social considerations. The Trustees believe that such limitations would be contrary to the interests of shareholders who are relying on Putnam Management to exercise its best investment judgment to help them meet important personal investment goals such as financing education, retirement and other critical personal needs.

What are the Trustees recommending?

The Trustees unanimously recommend that shareholders vote “AGAINST” this shareholder proposal.

What is the voting requirement for approving the
shareholder proposal?

Approval of the proposal requires an affirmative vote of a majority of the shares voted for each affected fund.

What is the effect of a favorable vote on the
shareholder proposal?

The shareholder proposal described above represents, for each affected fund, a recommendation to the Board of Trustees and is not legally binding. In the event that such a proposal is approved by shareholders, the Board of Trustees would take any such approval into consideration in determining whether the course of action recommended by such proposal would be in the best interests of each fund and its shareholders.

Further Information About Voting
and the Special Meeting

Quorum and Methods of Tabulation. The shareholders of each fund vote separately with respect to each proposal other than the election of Trustees (Proposal 1), in which case shareholders of each series of a trust vote together as a single class. Thirty percent of the shares entitled to vote constitutes a quorum for the transaction of business with respect to any proposal at the meeting. Shares of all classes of each fund vote together as a single class. Votes cast by proxy or in person at the meeting will be counted by persons appointed by your fund as tellers for the meeting. The tellers will count the total number of votes cast for approval of a proposal for purposes of determining whether sufficient affirmative votes have been cast. Shares represented by proxies that reflect abstentions and broker non-votes (i.e., shares held by brokers or nominees as to which (i) instruc tions have not been received from the beneficial owners or the persons entitled to vote and (ii) the broker or nominee does not have the discretionary voting power on a particular matter) will be counted as shares that are present and entitled to vote on the matter for purposes of determining the presence of a quorum.

The documents that authorize Putnam Fiduciary Trust Company or Putnam Investor Services, Inc. to act as Trustee for certain individual retirement accounts (including traditional, Roth and SEP IRAs, 403(b)(7) accounts and Coverdell Education Savings Accounts) provide that if an account owner does not submit voting instructions for his or her shares, Putnam Fiduciary Trust Company or Putnam Investor Services, Inc. will vote such shares in the same proportions as other shareholders with similar accounts have submitted voting instructions for their shares. Shareholders should be aware that this practice, known as “echo-voting,” may have the effect of increasing the likelihood that a proposal will be acted upon (approved or disapproved) and that Putnam Fiduciary Trust Company or Putnam Investor Services, Inc., each of which is an affiliate of Putnam Management, may benefit indirectly from the approval of the proposed management contracts.

With respect to the election of Trustees, neither abstentions nor broker non-votes have an effect on the outcome of the proposal. With respect to other proposals, abstentions and broker non-votes have the effect of votes against such proposals. For Proposals 2-4, treating broker non-votes as negative votes may result in a proposal not being approved, even though the votes cast in favor would have been sufficient to approve the proposal if some or all of the broker non-votes had been withheld. In certain circumstances in which a fund has received sufficient votes to approve a matter being recommended for approval by the fund’s Trustees, the fund may request that brokers and nominees, in their discretion, withhold submission of broker non-votes in order to avoid the need for solicitation of additional votes in favor of the proposal. A fund may also request that selected brokers and nominees, in their discretion, submit broker non-votes, if doing so is necessary to obtain a quorum.

Other business. The Trustees know of no matters other than those set forth herein to be brought before the meeting. If, however, any other matters properly come before the meeting, proxies will be voted on such matters in accordance with the judgment of the persons named in the enclosed form of proxy.

Simultaneous meetings. The meeting of shareholders of your fund is called to be held at the same time as the meetings

28


of shareholders of certain of the other Putnam funds. It is anticipated that all meetings will be held simultaneously.

If any shareholder at the meeting objects to the holding of a simultaneous meeting and moves for an adjournment of the meeting to a time promptly after the simultaneous meetings, the persons named as proxies will vote in favor of such adjournment.

Information for all Putnam funds except funds that are 
series of Putnam Variable Trust

Solicitation of proxies. In addition to soliciting proxies by mail, Trustees of your fund and employees of Putnam Management, Putnam Investor Services, Inc. and Putnam Retail Management may solicit proxies in person or by telephone. Your fund may arrange to have a proxy solicitation firm call you to record your voting instructions by telephone. The procedures for voting proxies by telephone are designed to authenticate shareholders’ identities, to allow them to authorize the voting of their shares in accordance with their instructions, and to confirm that their instructions have been properly recorded. Your fund has been advised by counsel that these procedures are consistent with the requirements of applicable law. If these procedures were subject to a successful legal challenge, such votes would not be counted at the meeting. Your fund is unaware of any such challenge at this time. Shareholders would be called at the phone number Putnam Management has in its records for their accounts and would be given an opportunity to authorize the proxies to vote their shares at the meeting in accordance with their instructions. To ensure that the shareholders’ instructions have been recorded correctly, they will also receive a confirmation of their instructions in the mail. A special toll-free number will be available in case the information contained in the confirmation is incorrect.

Shareholders have the opportunity to submit their voting instructions via the Internet by using a program provided by a third-party vendor hired by Putnam Management or by automated telephone service. The giving of a proxy will not affect your right to vote in person should you decide to attend the meeting. To use the Internet, please access the Internet address listed on the proxy card and follow the instructions on the Internet site. To record your voting instructions via automated telephone service, use the toll-free number listed on your proxy card. The Internet and telephone voting procedures are designed to authenticate shareholder identities, to allow shareholders to give their voting instructions, and to confirm that shareholders’ instructions have been recorded properly. Shareholders voting via the Internet should understand that there may be costs associated with electronic access, such as usage charges from Internet access providers and telephone companies, that must be borne by the shareholders.

Your fund’s Trustees have adopted a general policy of maintaining confidentiality in the voting of proxies. Consistent with this policy, your fund may solicit proxies from shareholders who have not voted their shares or who have abstained from voting, including brokers and nominees.

Revocation of proxies. Proxies, including proxies given by telephone or over the Internet, may be revoked at any time before they are voted either (i) by a written revocation received by the Clerk of your fund, (ii) by properly executing a later-dated proxy, (iii) by recording later-dated voting instructions by telephone or via the Internet, (iv) in the case of brokers and nominees, by submitting written instructions to your fund’s solicitation agent or the applicable record shareholders, or (v) by attending the meeting and voting in person.

Information for funds that are series of 
Putnam Variable Trust

Voting Process. With respect to funds that are series of Putnam Variable Trust only, as of the Record Date, certain insurance companies (each an “Insurance Company”) were shareholders of record of each fund that is a series of Putnam Variable Trust. Each Insurance Company will vote shares of the fund or funds held by it in accordance with voting instructions received from variable annuity contract and variable life insurance policy owners (collectively, the “Contract Owners”) for whose accounts the shares are held. Accordingly, with respect to funds that are series of Putnam Variable Trust, this proxy statement is also intended to be used by each Insurance Company in obtaining these voting instructions from Contract Owners. In the event that a Contract Owner gives no instructions, the relevant Insurance Company will vote the shares of the appropriate fund attributable to the Contract Owner in the same proportion as shares of that fund for which it has received instructions. One effect of this system of proportional voting is that, if only a small number of Contract Owners provide voting instructions, this small number of Contract Owners may determine the outcome of a vote for a fund.

Solicitation of proxies. In addition to soliciting proxies and voting instructions by mail, the Trustees of your fund and employees of Putnam Management, Putnam Investor Services, Inc., Putnam Retail Management and the Insurance Companies may solicit voting instructions from Contract Owners in person or by telephone. Your fund may arrange to have a proxy solicitation firm call you to record your voting instructions by telephone. The procedures for solicitation of proxies and voting instructions by telephone are designed to authenticate Contract Owners’ identities, to allow them to authorize the voting of their units in accordance with their instructions, and to confirm that their instructions have been properly recorded. Your fund has been advised by counsel that these procedures are consistent with the requirements of applicable law. If these procedures were subject to a successful legal challenge, such votes would not be counted at the meeting. Your fund is unaware of any such challenge at this time. Contract Owners would be called at the phone number Putnam Management has in its records for their accounts (or that Putnam Management obtains from the Insurance Companies) and would be given an opportunity to give their instructions. To ensure that the Contract Owners’ instructions have been recorded correctly, they will also receive a confirmation of their

29


instructions in the mail. A special toll-free number will be available in case the information contained in the confirmation is incorrect.

Contract Owner Instructions. Each Contract Owner is entitled to instruct his or her insurance company as to how to vote its shares and can do so by marking voting instructions on the ballot enclosed with this proxy statement and then signing, dating and mailing the ballot in the envelope provided. If a ballot is not marked to indicate voting instructions, but is signed, dated and returned, it will be treated as an instruction to vote the shares in accordance with the Trustees’ recommendations. Each Insurance Company will vote the shares for which it receives timely voting instructions from Contract Owners in accordance with those instructions and will vote those shares for which it receives no timely voting instructions for and against approval of a proposal, and as an abstention, in the same proportion as the shares for which it receives voting instructions. Shares attributable to accounts retained by ea ch Insurance Company will be voted in the same proportion as votes cast by Contract Owners. Accordingly, there are not expected to be any “broker non-votes.”

Contract Owners have the opportunity to submit their voting instructions via the Internet by utilizing a program provided by a third party vendor hired by Putnam Management or by automated telephone service. The giving of such voting instructions will not affect your right to vote in person should you decide to attend the meeting. To use the Internet, please access the Internet address listed on the proxy card, and follow the instructions on the Internet site. To record your voting instructions via automated telephone service, use the toll-free number listed on your proxy card. The Internet and telephone voting procedures are designed to authenticate Contract Owners’ identities, to allow Contract Owners to give their voting instructions, and to confirm that their instructions have been recorded properly. Contract Owners voting via the Internet should understand that there may be costs associated with electronic access, such as usage charges from I nternet access providers and telephone companies, that must be borne by the Contract Owners.

Your fund’s Trustees have adopted a general policy of maintaining confidentiality in the voting of proxies and the giving of voting instructions. Consistent with this policy, your fund may solicit proxies from Contract Owners who have not voted their shares or who have abstained from voting.

Revocation of instructions. Any Contract Owner giving instructions to an Insurance Company has the power to revoke such instructions by mail by providing superseding instructions. All properly executed instructions received in time for the meeting will be voted as specified in the instructions.

Revocation of proxies. Proxies, including proxies given by telephone or over the Internet, may be revoked at any time before they are voted either (i) by a written revocation received by the Clerk of your fund, (ii) by properly executing a later-dated proxy, (iii) by recording later-dated voting instructions by telephone or via the Internet, or (iv) by attending the meeting and voting in person.

Information for all Putnam funds 

Date for receipt of shareholders’ proposals for subsequent meetings of shareholders. Your fund does not regularly hold an annual shareholder meeting, but may from time to time schedule a special meeting. In addition, your fund has voluntarily undertaken to hold a shareholder meeting at least every five years for the purpose of electing your fund’s Trustees. As the last such meeting was held in 2004, the fund’s 2009 special meeting will satisfy this undertaking. The next such meeting is expected to be held in 2014. In accordance with the regulations of the SEC, in order to be eligible for inclusion in the fund’s proxy statement for a meeting, a shareholder or Contract Owner proposal must be received a reasonable time before the fund prints and mails its proxy statement.

As described in more detail earlier in this proxy statement, the Board Policy and Nominating Committee of the Board of Trustees, which consists of Independent Trustees only, will also consider nominees recommended by shareholders of the fund to serve as Trustees. A shareholder or Contract Owner must submit the names of any such nominees in writing to the fund, to the attention of the Clerk, at the address of the principal offices of the fund.

If a shareholder who wishes to present a proposal at a special shareholder meeting fails to notify the fund within a reasonable time before the fund mails its proxy statement, the persons named as proxies will have discretionary authority to vote on the shareholder’s proposal if it is properly brought before the meeting. If a shareholder makes a timely notification, the proxies may still exercise discretionary voting authority under circumstances consistent with the SEC’s proxy rules. All shareholder proposals must also comply with other requirements of the SEC’s rules and the fund’s Agreement and Declaration of Trust and By-laws.

Expense of the solicitation. Persons holding shares as nominees will, upon request, be reimbursed for their reasonable expenses in soliciting instructions from their principals. The Putnam funds have retained Broadridge Financial Solutions, 60 Research Road, Hingham, MA 02043, to aid in the solicitation of instructions for registered and nominee accounts. Broadridge Financial Solutions’ fee (estimated to be approximately $8 million), as well as the other expenses of the preparation of proxy statements and related materials, including printing and delivery costs and the proxy solicitation expenses, are borne by the funds.

Adjournment. If the quorum required for the meeting has not been met, the persons named as proxies intend to propose adjournment of the meeting and to vote all shares that they are entitled to vote in favor of such adjournment. If the quorum required for the meeting has been met, but sufficient votes in favor of one or more of Proposals 2-4 are not received by the time scheduled for the meeting, the persons named as proxies may also propose adjournment of the meeting with respect to one

30


or more such proposals in order to permit solicitation of additional proxies. The persons named as proxies will vote in favor of adjournment with respect to any proposal those proxies that they are entitled to vote in favor of such proposal, and will vote against any such adjournment those proxies required to be voted against such proposal. Any adjournment with respect to a proposal will require the affirmative vote of a majority of the votes cast on the question in person or by proxy at the session of the meeting to be adjourned. Adjournments proposed may be for a period or periods of not more than 60 days in the aggregate. Your fund pays the costs of any additional solicitation and of any adjourned session. Any proposal for which sufficient favorable votes have been received may be acted upon and considered final regardless of whether the meeting is adjourned to permit additional solicitation with respect to any other proposal.

Duplicate mailings. As permitted by SEC rules, Putnam’s policy is to send a single copy of the proxy statement to shareholders who share the same last name and address, unless a shareholder previously has requested otherwise. Separate proxy cards will be included with the proxy statement for each account registered at that address. If you would prefer to receive your own copy of the proxy statement, please contact Putnam Investor Services by phone at 1-800-225-1581 or by mail at P.O. Box 8383, Boston, MA 02266-8383.

Financial information. Your fund’s Clerk will furnish to you, upon request and without charge, a copy of the fund’s annual report for its most recent fiscal year, and a copy of its semiannual report for any subsequent semiannual period. You may direct such requests to Putnam Investor Services, P.O. Box 8383, Boston, MA 02266-8383 or by phone at 1-800-225-1581. You may also access copies of these reports by visiting Putnam’s website at http://www.putnam.com/individual.

Fund Information

Putnam Investments. Putnam Management, your fund’s investment manager and administrator, is owned through a series of holding companies by Putnam Investments, LLC (“Putnam Investments”). Putnam Investments is a holding company that, except for a minority stake owned by employees, is owned (through a series of holding companies) by Great-West Lifeco Inc., which is a financial services holding company with interests in the life insurance, retirement, savings, and reinsurance businesses. Its businesses have operations in Canada, the United States and Europe. Great-West Lifeco Inc. is a majority-owned subsidiary of Power Financial Corporation. Power Financial Corporation is a diversified management and holding company that has interests, directly or indirectly, in companies that are active in the financial services sector in Canada, the United States and Europe. It also has substantial holdings in a group of energy, water, waste services, specialty minerals and cement and building materials companies in Europe. Power Corporation of Canada, a diversified international management and holding company, owns a majority of the voting securities of Power Financial Corporation. The Hon. Paul Desmarais, Sr., through a group of holding companies that he controls, has voting control of Power Corporation of Canada.

The address of each of Putnam Investments and Putnam Management is One Post Office Square, Boston, Massachusetts 02109. The address of Great-West Lifeco Inc. is 100 Osborne Street North, Winnipeg, Manitoba R3C 3A5. The address of Mr. Desmarais, Power Corporation of Canada and Power Financial Corporation is 751 Victoria Square, Montreal, Quebec H2Y 2J3, Canada. Robert L. Reynolds is the President and Chief Executive Officer of Putnam Investments. His address is One Post Office Square, Boston, MA 02109.

Putnam Management provides investment advisory services to other funds that may have investment objectives and policies similar to those of your fund. The table in Appendix R identifies these other funds and states their net assets and their current management fee schedules.

Putnam Investments Limited. Putnam Investments Limited, which has been retained by Putnam Management as investment sub-adviser with respect to a portion of the assets of certain funds, is owned by Putnam International Holdings, LLC, which is a holding company owned by Putnam Investments. The directors of Putnam Investments Limited, listed along with their principal business occupations at Putnam Investments, are William T. Connolly (Head of Global Distribution), Simon L. Davis (Head of International Large Cap Equities), Alan G. McCormack (Head of Quantitative Equities), Jenny S. Mortan (Head of Global Consultant Relations), and Joseph T. Phoenix (Head of International Business). The address of Putnam Investments Limited and each of the directors other than William T. Connolly is Cassini House, 57-59 St. James’s Street, London, England SW1A 1LD. The address of Putnam International Holdings, LLC and of Mr. Connolly is One Post Office Square, Boston, Massachusetts 02109.

The Putnam Advisory Company, LLC. The Putnam Advisory Company, LLC, which has also been retained by Putnam Management to serve as sub-adviser for a portion of the assets of certain funds, is owned by Putnam Advisory Company, Limited Partnership, a holding company whose general partner (and minority owner) is Putnam Advisory Company GP, Inc., a holding company that is owned by Putnam, LLC, a holding company subsidiary (through a series of other holding companies) of Putnam Investments that is also the majority owner of Putnam Advisory Company, Limited Partnership and the sole owner of Putnam Advisory Company GP, Inc. The address of each of The Putnam Advisory Company, LLC, Putnam Advisory Company, Limited Partnership, Putnam Advisory Company GP, Inc. and Putnam, LLC is One Post Office Square, Boston, Massachusetts 02109.

Putnam Retail Management. Putnam Retail Management, your fund’s principal underwriter, is a limited partnership whose general partner (and minority owner) is Putnam Retail Management GP, Inc. and whose limited partner and majority owner is Putnam, LLC,

31


which is also the sole owner of Putnam Retail Management GP, Inc. The address of each of Putnam Retail Management and Putnam Retail Management GP, Inc. is One Post Office Square, Boston, Massachusetts 02109.

Putnam Investor Services, Inc. Putnam Investor Services, Inc. serves as your fund’s investor servicing agent. Prior to January 1, 2009, your fund’s investor servicing agent was Putnam Fiduciary Trust Company (“PFTC”). Both Putnam Investor Services, Inc. and PFTC are subsidiaries of Putnam Investments. The address of Putnam Investor Services, Inc. and PFTC is One Post Office Square, Boston, Massachusetts 02109.

Payments to Putnam Management or its affiliates. Appendix S shows amounts paid to Putnam Management or its affiliates during each fund’s most recent fiscal year (ended between July 31, 2008 and June 30, 2009) for the services noted. The funds made no other material payments to Putnam Management or its affiliates during the periods shown.

Limitation of Trustee liability. Your fund’s Declaration of Trust provides that the fund will indemnify its Trustees and officers against liabilities and expenses incurred in connection with litigation in which they may be involved because of their offices with the fund, except if it is determined in the manner specified in the Declaration of Trust that they have not acted in good faith in the reasonable belief that their actions were in the best interests of the fund or that such indemnification would relieve any officer or Trustee of any liability to the fund or its shareholders arising by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of his or her duties. Your fund, at its expense, provides liability insurance for the benefit of its Trustees and officers.

Officers and other information. All of the officers of your fund are employees of Putnam Management or its affiliates or serve on the staff of the Office of the Trustees. Because of his positions with Putnam Management or its affiliates, Mr. Reynolds, as well as the other affiliated officers of your fund, will benefit from the management fees and investor servicing fees paid or allowed by your fund. In addition to Mr. Reynolds, the other officers of your fund are as follows:

Name (year of birth),  Year first elected  Business experience 
Office with the fund  to office  during past 5 years 
Charles E. Porter  1989  Executive Vice President, 
(Born 1938)*    Principal Executive Officer, 
Executive Vice President,    Associate Treasurer and 
Principal Executive Officer,    Compliance Liaison, The 
Associate Treasurer and    Putnam Funds. 
Compliance Liaison     
Jonathan S. Horwitz  2004  Senior Vice President and 
(Born 1955)*    Treasurer, The Putnam 
Senior Vice President    Funds. 
and Treasurer     
Steven D. Krichmar  2002  Senior Managing Director, 
(Born 1958)    Putnam Investments. 
Vice President and     
Principal Financial Officer     
Janet C. Smith  2006  Managing Director, 
(Born 1965)    Putnam Investments. 
Vice President, Assistant     
Treasurer and Principal     
Accounting Officer     
Susan G. Malloy  2007  Managing Director, 
(Born 1957)    Putnam Investments. 
Vice President and     
Assistant Treasurer     
Beth Mazor (Born 1958)  2002  Managing Director, 
Vice President    Putnam Investments. 
Robert R. Leveille  2007  Managing Director, 
(Born 1969)    Putnam Investments. 
Vice President and Chief     
Compliance Officer     
Mark C. Trenchard  2002  Managing Director, 
(Born 1962)    Putnam Investments. 
Vice President and BSA     
Compliance Officer     
Francis J. McNamara, III  2004  Senior Managing Director, 
(Born 1955)    Putnam Investments, 
Vice President and Chief    Putnam Management 
Legal Officer    and Putnam Retail 
    Management. 
James P. Pappas  2004  Managing Director, 
(Born 1953)    Putnam Investments and 
Vice President    Putnam Management. 
Judith Cohen  1993  Vice President, Clerk and 
(Born 1945)*    Assistant Treasurer, The 
Vice President, Clerk and    Putnam Funds. 
Assistant Treasurer     
Wanda M. McManus  1993  Vice President, Senior 
(Born 1947)*    Associate Treasurer and 
Vice President, Senior    Assistant Clerk, 
Associate Treasurer and    The Putnam Funds. 
Assistant Clerk     
Nancy E. Florek  2000  Vice President, Assistant 
(Born 1957)*    Clerk, Assistant Treasurer 
Vice President, Assistant    and Proxy Manager, The 
Clerk, Assistant Treasurer    Putnam Funds. 
and Proxy Manager     

* Officers of each fund who are members of the Trustees’ independent administrative staff. Compensation for these individuals is fixed by the Trustees and reimbursed to Putnam Management.

5% Beneficial Ownership. As of June 30, 2009, to the knowledge of the funds, no person other than those listed on Appendix T owned beneficially or of record 5% or more of any class of shares of any Putnam fund.

32


Appendix A — Number of Shares Outstanding as of the Record Date

  Putnam Absolute Return  Putnam Absolute Return  Putnam Absolute Return  Putnam Absolute Return  Putnam American 
  100 Fund  300 Fund  500 Fund  700 Fund  Government Income Fund 
Class A  2,441,289.24  6,376,771.13  7,977,540.85  5,157,420.45  68,015,107.89 
Class B  141,762.78  420,790.32  892,098.85  461,160.50  2,036,209.93 
Class C  1,227,893.48  2,968,058.77  2,540,027.84  1,839,144.24  1,126,889.65 
Class M  27,297.05  95,708.04  134,381.52  122,665.67  245,252.68 
Class R  1,180.28  8,575.42  10,136.56  6,433.95  71,225.89 
Class Y  1,586,197.39  3,071,040.21  1,960,011.30  1,719,440.18  846,881.68 
  Putnam AMT-Free  Putnam Arizona Tax  Putnam Asia Pacific  Putnam Asset Allocation:  Putnam Asset Allocation: 
  Municipal Fund  Exempt Income Fund  Equity Fund  Balanced Portfolio  Conservative Portfolio 
Class A  22,454,768.96  7,086,505.79  540,864.97  95,421,517.82  42,883,286.22 
Class B  1,002,396.04  350,785.63  9,220.00  13,795,600.39  4,458,001.62 
Class C  1,387,445.97  158,340.60  2,050.06  10,391,816.28  4,767,212.77 
Class M  86,379.06  133,049.17  1,187.97  2,233,090.12  1,039,504.39 
Class R  —  —  1,000.00  688,108.58  256,659.05 
Class Y  319,993.16  149,216.71  21,386.48  30,255,886.12  64,795,832.39 
  Putnam Asset Allocation:  Putnam Asset Allocation:  Putnam California Tax  Putnam Capital  Putnam Capital 
  Equity Portfolio  Growth Portfolio  Exempt Income Fund  Opportunities Fund  Spectrum Fund 
Class A  1,276.65  103,809,940.21  209,280,358.18  23,980,414.07  924,400.93 
Class B  —  18,957,296.27  3,897,016.24  5,095,953.37  24,124.19 
Class C  —  12,778,357.56  5,376,037.49  1,453,134.72  65,689.24 
Class M  —  2,784,387.18  491,239.76  633,627.41  1,451.08 
Class R  —  899,534.41  —  288,480.30  666.67 
Class Y  3,167,109.14  26,391,900.11  2,276,197.10  1,962,729.02  954,424.49 
  Putnam Convertible  Putnam Diversified  Putnam Emerging  Putnam Equity  Putnam Equity 
  Income-Growth Trust  Income Trust  Markets Equity Fund  Income Fund  Spectrum Fund 
Class A  29,195,092.58  160,345,983.05  1,489,093.28  173,091,118.97  581,090.86 
Class B  933,182.01  10,646,451.93  183,424.87  15,093,251.91  28,039.50 
Class C  3,512,159.83  32,100,800.76  34,937.26  5,305,307.38  27,336.47 
Class M  298,453.28  59,049,073.98  27,147.44  2,560,893.11  1,456.53 
Class R  166,217.81  391,009.58  1,000.00  1,023,816.11  666.67 
Class Y  4,256,132.23  35,837,549.24  176,536.08  24,707,911.51  127,353.13 
  Putnam Europe  Putnam Floating Rate  The Putnam Fund for  The George Putnam Fund  Putnam Global 
  Equity Fund  Income Fund  Growth and Income  of Boston  Consumer Fund 
Class A  10,957,553.86  19,083,981.99  423,778,844.81  112,205,071.75  325,309.85 
Class B  658,680.27  1,057,724.20  22,206,731.23  8,393,751.14  4,115.41 
Class C  148,768.66  6,915,994.07  3,443,733.04  2,293,735.41  3,930.11 
Class M  266,664.66  321,023.85  3,670,294.25  8,081,479.38  2,480.99 
Class R  6,729.26  20,585.47  324,127.48  148,736.67  1,000.90 
Class Y  584,925.70  13,025,560.39  7,142,552.85  10,128,025.58  26,923.77 
  Putnam Global  Putnam Global  Putnam Global  Putnam Global Health  Putnam Global 
  Energy Fund  Equity Fund  Financials Fund  Care Fund  Income Trust 
Class A  454,728.64  108,866,232.79  517,416.11  24,865,629.05  7,940,959.73 
Class B  22,145.82  7,477,847.75  16,640.85  2,008,854.90  630,325.33 
Class C  13,017.42  1,994,239.39  17,139.23  534,053.44  306,525.46 
Class M  5,680.09  1,939,463.76  1,586.89  309,568.40  1,492,843.73 
Class R  1,000.20  195,725.86  1,000.70  39,119.99  44,891.49 
Class Y  21,352.14  2,772,553.73  42,228.86  400,020.39  345,750.97 

A-1


  Putnam Global  Putnam Global Natural  Putnam Global  Putnam Global  Putnam Global 
  Industrials Fund  Resources Fund  Technology Fund  Telecommunications Fund  Utilities Fund 
Class A  319,944.75  19,113,901.74  410,407.52  302,539.28  28,112,165.34 
Class B  3,903.22  2,046,104.59  12,556.50  2,034.39  1,283,315.76 
Class C  1,756.20  915,261.84  4,883.61  1,002.78  370,438.22 
Class M  1,002.07  350,225.49  3,423.57  1,000.00  181,987.06 
Class R  1,002.16  585,825.10  1,000.00  1,000.00  109,433.74 
Class Y  12,258.07  656,390.58  22,955.51  9,220.13  353,938.35 
  Putnam Growth  Putnam High Yield      Putnam Income 
  Opportunities Fund  Advantage Fund  Putnam High Yield Trust  Putnam Income Fund  Strategies Fund 
Class A  20,713,194.77  83,172,360.74  160,452,092.18  96,280,904.74  1,370,743.75 
Class B  3,228,236.17  1,652,197.71  9,845,328.68  7,274,441.24  110,211.00 
Class C  1,055,082.13  1,562,260.70  5,270,961.17  5,227,604.30  303,987.20 
Class M  386,501.20  33,755,967.14  2,587,732.76  30,071,243.49  46,717.47 
Class R  15,360.31  728,966.96  343,587.27  347,900.88  117.07 
Class Y  450,767.47  9,365,964.65  6,407,080.39  30,558,704.19  2,767,856.54 
  Putnam International  Putnam International  Putnam International  Putnam International New   
  Capital Opportunities Fund  Equity Fund  Growth and Income Fund  Opportunities Fund  Putnam Investors Fund 
Class A  30,545,765.00  82,611,326.17  34,147,949.39  25,897,452.11  125,093,062.42 
Class B  2,570,337.78  8,165,953.98  3,417,998.84  1,922,067.94  12,272,326.87 
Class C  2,201,155.65  5,972,279.38  1,611,291.07  719,049.42  3,638,366.53 
Class M  385,631.75  1,879,711.51  697,637.17  689,681.95  2,191,473.75 
Class R  1,990,186.95  289,562.44  262,354.56  115,213.38  133,481.44 
Class Y  3,663,438.49  8,007,506.68  3,956,919.18  1,984,015.51  9,046,220.79 
  Putnam Massachusetts  Putnam Michigan Tax  Putnam Mid Cap  Putnam Minnesota Tax  Putnam Money 
  Tax Exempt Income Fund  Exempt Income Fund  Value Fund  Exempt Income Fund  Market Fund 
Class A  26,107,136.80  9,281,805.84  50,785,937.19  9,015,087.92  2,547,401,446.87 
Class B  1,675,822.93  433,937.23  2,951,345.47  705,076.00  69,768,030.48 
Class C  1,528,960.41  31,985.44  1,657,297.07  365,569.83  28,041,998.06 
Class M  407,196.79  78,197.89  517,058.00  71,099.16  47,190,115.94 
Class R  —  —  803,907.76  —  11,907,710.91 
Class T  —  —  —  —  29,000,297.99 
Class Y  1,075,602.31  19,406.20  4,088,970.60  56,457.39  — 
  Putnam Money Market  Putnam New Jersey Tax  Putnam New  Putnam New York Tax  Putnam Ohio Tax Exempt 
  Liquidity Fund  Exempt Income Fund  Opportunities Fund  Exempt Income Fund  Income Fund 
Class A  —  20,577,091.11  52,367,631.48  124,997,330.70  15,639,854.15 
Class B  —  2,027,890.87  4,667,366.40  2,968,946.89  627,679.94 
Class C  —  1,943,695.97  867,188.80  3,980,959.60  669,897.29 
Class M  —  261,529.05  1,124,213.27  223,757.06  121,242.61 
Class P  2,472,523,576.00  —  —  —  — 
Class R  —  —  59,488.11  —  — 
Class Y  —  419,841.04  6,833,758.04  351,160.42  178,816.64 
  Putnam Pennsylvania Tax    Putnam RetirementReady  Putnam RetirementReady  Putnam RetirementReady 
  Exempt Income Fund  Putnam Research Fund  2010 Fund  2015 Fund  2020 Fund 
Class A  17,316,086.63  15,468,115.70  1,137,546.10  3,067,660.06  2,488,778.66 
Class B  1,375,560.11  2,456,219.18  13,190.43  34,790.34  51,665.61 
Class C  1,309,685.47  989,020.61  22,292.74  28,595.43  27,709.65 
Class M  280,015.43  379,958.85  4,371.70  21,233.81  15,637.19 
Class R  —  9,088.34  31,932.15  57,616.89  33,696.85 
Class Y  208,497.55  325,780.02  248,046.50  400,914.47  561,773.16 

A-2


  Putnam RetirementReady  Putnam RetirementReady  Putnam RetirementReady  Putnam RetirementReady  Putnam RetirementReady 
  2025 Fund  2030 Fund  2035 Fund  2040 Fund  2045 Fund 
Class A  2,304,460.10  2,042,039.35  1,508,091.06  1,011,173.94  772,053.76 
Class B  56,865.58  52,133.72  31,213.54  16,627.48  11,125.83 
Class C  14,859.86  11,177.07  9,899.02  2,986.29  1,345.46 
Class M  8,245.80  47,405.22  4,463.06  1,119.26  369.07 
Class R  81,143.57  45,924.75  47,896.89  46,066.85  27,242.35 
Class Y  774,114.54  707,957.85  651,264.23  444,747.65  292,789.53 
  Putnam RetirementReady  Putnam RetirementReady  Putnam Small Cap  Putnam Small Cap  Putnam Tax Exempt 
  2050 Fund  Maturity Fund  Growth Fund  Value Fund  Income Fund 
Class A  421,383.55  723,299.90  8,859,737.34  20,845,017.62  133,277,512.45 
Class B  11,228.54  2,811.00  656,889.58  966,362.32  2,083,198.37 
Class C  4,162.96  6,690.64  540,195.24  1,512,156.33  2,807,652.29 
Class M  3,548.68  25,852.33  100,260.44  207,894.66  663,089.34 
Class R  23,736.06  5,363.08  433,106.83  22,465.08  — 
Class Y  162,319.75  214,657.76  619,338.15  2,471,260.78  589,312.79 
  Putnam Tax Exempt Money  Putnam Tax-Free High  Putnam U.S. Government     
  Market Fund  Yield Fund  Income Trust  Putnam Vista Fund  Putnam Voyager Fund 
Class A  65,331,183.00  77,657,120.31  77,696,934.97  110,923,420.11  160,944,731.64 
Class B  —  3,026,226.80  4,862,528.25  11,030,713.90  14,822,958.18 
Class C  —  2,032,357.56  3,633,723.11  2,557,020.11  2,504,717.94 
Class M  —  750,858.97  1,943,242.41  2,001,629.23  1,642,639.04 
Class R  —  —  267,629.56  288,411.92  132,143.77 
Class Y  —  420,528.87  1,000,928.54  6,761,068.57  7,173,555.78 
  Putnam VT American  Putnam VT Capital  Putnam VT Diversified  Putnam VT Equity  Putnam VT The George 
  Government Income Fund  Opportunities Fund  Income Fund  Income Fund  Putnam Fund of Boston 
Class IA  7,606,269.42  981,891.11  21,566,462.63  16,860,691.01  15,654,047.26 
Class IB  4,755,961.00  1,200,414.07  40,136,829.95  17,729,792.06  18,533,149.81 
  Putnam VT Global Asset  Putnam VT Global  Putnam VT Global  Putnam VT Global  Putnam VT Growth 
  Allocation Fund  Equity Fund  Health Care Fund  Utilities Fund  and Income Fund 
Class IA  12,158,943.56  22,684,036.05  4,668,462.74  12,015,306.17  86,444,462.67 
Class IB  5,482,668.99  3,382,207.22  7,253,262.39  2,264,366.85  21,733,158.10 
  Putnam VT Growth      Putnam VT International  Putnam VT International 
  Opportunities Fund  Putnam VT High Yield Fund  Putnam VT Income Fund  Equity Fund  Growth and Income Fund 
Class IA  2,571,055.76  48,896,096.17  22,930,353.83  16,195,705.21  14,425,140.43 
Class IB  3,472,210.16  18,304,940.73  16,928,359.03  41,235,161.02  6,988,438.28 
  Putnam VT International    Putnam VT Mid Cap  Putnam VT Money  Putnam VT New 
  New Opportunities Fund  Putnam VT Investors Fund  Value Fund  Market Fund  Opportunities Fund 
Class IA  3,741,110.84  10,951,219.95  2,541,266.66  202,024,444.50  30,237,398.10 
Class IB  1,838,998.92  22,172,997.60  1,383,088.97  179,311,894.61  4,811,769.44 
    Putnam VT Small Cap       
  Putnam VT Research Fund  Value Fund  Putnam VT Vista Fund  Putnam VT Voyager Fund   
  
Class IA  2,746,716.62  6,267,411.95  7,649,143.06  25,286,054.07   
  
Class IB  4,455,818.95  19,159,340.19  10,268,447.90  8,016,910.28   
  

A-3


Appendix B — Dollar Range and Number of Shares Beneficially Owned

The following tables show the number of shares beneficially owned by each Trustee in each fund, as well as the value of those holdings in each fund and across all funds, as of June 30, 2009. In addition, the tables show the number and value of shares beneficially owned in each fund for the Trustees and officers as a group. Where the number of shares beneficially owned exceeds 1% of the class owned, the percentage is included in parentheses below. None of the Trustees or officers owned shares of Putnam Money Market Liquidity Fund, Putnam RetirementReady 2030 Fund, Putnam RetirementReady 2035 Fund, Putnam VT Global Health Care Fund, Putnam VT Global Utilities Fund, or Putnam VT Money Market Fund as of June 30, 2009. All references in the tables are to Class A shares unless otherwise indicated.

  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam Absolute Return 100 Fund  Putnam Absolute Return 300 Fund  Putnam Absolute Return 500 Fund 
Ravi Akhoury  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  $10,001-$50,000  999.001  $10,001-$50,000  3,772.453  $10,001-$50,000  3,804.183 
Charles B. Curtis  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Robert J. Darretta  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Myra R. Drucker  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
John A. Hill  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Paul L. Joskow  $1-$10,000  150.000  $1-$10,000  150.000  $1-$10,000  149.105 
Elizabeth T. Kennan  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Kenneth R. Leibler  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Robert E. Patterson  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
George Putnam, III  $10,001-$50,000  1,000.000  $10,001-$50,000  997.009  $10,001-$50,000  1,013.171 
W. Thomas Stephens  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Richard B. Worley  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Robert L. Reynolds  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  $10,001-$50,000  3,249.001  $50,001-$100,000  6,120.261  $50,001-$100,000  7,055.579 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  $1-$10,000  960.379      $10,001-$50,000  1,810.724 
  (Class Y Shares)  (Class Y Shares)      (Class Y Shares)  (Class Y Shares) 
  Putnam Absolute Return 700 Fund  Putnam American Government Income Fund  Putnam AMT-Free Municipal Fund 
Ravi Akhoury  $1-$10,000  100.000  $1-$10,000  101.451  $1-$10,000  100.915 
Jameson A. Baxter  $10,001-$50,000  994.036  $1-$10,000  451.813  $1-$10,000  585.375 
Charles B. Curtis  $1-$10,000  100.000  $1-$10,000  137.394  $1-$10,000  144.469 
Robert J. Darretta  $1-$10,000  100.000  $1-$10,000  109.389  $1-$10,000  107.850 
Myra R. Drucker  $1-$10,000  100.000  $1-$10,000  120.409  $1-$10,000  121.824 
John A. Hill  $1-$10,000  100.000  Over $100,000  12,437.036  $1-$10,000  206.268 
Paul L. Joskow  $1-$10,000  149.105  $10,001-$50,000  1,617.272  $1-$10,000  165.356 
Elizabeth T. Kennan  $1-$10,000  100.000  $1-$10,000  147.975  $1-$10,000  122.832 
Kenneth R. Leibler  $1-$10,000  100.000  $1-$10,000  112.781  $1-$10,000  111.389 
Robert E. Patterson  $1-$10,000  100.000  $10,001-$50,000  2,299.974  $1-$10,000  122.930 
George Putnam, III  $1-$10,000  808.898  $10,001-$50,000  3,435.238  $10,001-$50,000  888.401 
W. Thomas Stephens  $1-$10,000  100.000  $1-$10,000  356.077  $1-$10,000  174.108 
Richard B. Worley  $1-$10,000  100.000  $1-$10,000  120.409  $1-$10,000  121.603 
Robert L. Reynolds  $1-$10,000  100.000  $1-$10,000  102.212  $1-$10,000  101.754 
Trustees and Officers  $10,001-$50,000  3,152.346  Over $100,000  22,506.692  $10,001-$50,000  3,075.074 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
      Over $100,000  12,851.829     
      (Class Y Shares)  (Class Y Shares)     
        (1.29%)     

B-1


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam Arizona Tax Exempt Income Fund  Putnam Asia Pacific Equity Fund  Putnam Asset Allocation: Balanced Portfolio 
Ravi Akhoury  $1-$10,000  101.016  $1-$10,000  100.000  $1-$10,000  102.003 
Jameson A. Baxter  $1-$10,000  199.613  $10,001-$50,000  2,569.373  Over $100,000  25,710.917 
Charles B. Curtis  $1-$10,000  142.639  $1-$10,000  100.000  $1-$10,000  128.059 
Robert J. Darretta  $1-$10,000  109.177  $1-$10,000  100.000  $1-$10,000  108.362 
Myra R. Drucker  $1-$10,000  123.150  $1-$10,000  100.000  $10,001-$50,000  4,143.598 
John A. Hill  $1-$10,000  240.028  $1-$10,000  100.000  Over $100,000  402,575.918 
Paul L. Joskow  $1-$10,000  178.072  $1-$10,000  259.875  Over $100,000  28,499.751 
Elizabeth T. Kennan  $1-$10,000  119.683  $1-$10,000  512.295  $1-$10,000  381.207 
Kenneth R. Leibler  $1-$10,000  112.880  $1-$10,000  100.000  $1-$10,000  109.647 
Robert E. Patterson  $1-$10,000  124.497  $1-$10,000  100.000  $10,001-$50,000  1,277.619 
George Putnam, III  $10,001-$50,000  1,389.358  $10,001-$50,000  1,027.749  $10,001-$50,000  3,224.376 
W. Thomas Stephens  $1-$10,000  170.021  $1-$10,000  100.000  $1-$10,000  100.810 
Richard B. Worley  $1-$10,000  122.868  $1-$10,000  100.000  $1-$10,000  113.250 
Robert L. Reynolds  $1-$10,000  102.169  $1-$10,000  100.000  $1-$10,000  102.003 
Trustees and Officers  $10,001-$50,000  3,235.171  $50,001-$100,000  5,369.292  Over $100,000  466,577.521 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
        (1.06%)  Over $100,000  236,158.697 
          (Class Y Shares)  (Class Y Shares) 
  Putnam Asset Allocation:         
  Conservative Portfolio  Putnam Asset Allocation: Equity Portfolio  Putnam Asset Allocation: Growth Portfolio 
Ravi Akhoury  $1-$10,000  101.314  $1-$10,000  100.000  $1-$10,000  100.000 
        (7.98%)     
Jameson A. Baxter  $10,001-$50,000  1,344.237  None  0.000  Over $100,000  34,932.084 
Charles B. Curtis  Over $100,000  14,111.008  None  0.000  Over $100,000  13,095.372 
Robert J. Darretta  $1-$10,000  107.879  None  0.000  $1-$10,000  107.198 
Myra R. Drucker  $1-$10,000  117.024  None  0.000  $50,001-$100,000  9,713.900 
John A. Hill  Over $100,000  122,538.767  None  0.000  $50,001-$100,000  6,619.158 
Paul L. Joskow  $1-$10,000  271.864  None  0.000  $10,001-$50,000  1,149.293 
Elizabeth T. Kennan  $1-$10,000  378.620  None  0.000  $50,001-$100,000  5,405.355 
Kenneth R. Leibler  $1-$10,000  110.258  None  0.000  $1-$10,000  107.588 
Robert E. Patterson  $10,001-$50,000  1,350.310  None  0.000  $10,001-$50,000  2,402.978 
George Putnam, III  $10,001-$50,000  4,965.041  None  0.000  Over $100,000  26,391.289 
W. Thomas Stephens  $10,001-$50,000  5,532.640  None  0.000  $1-$10,000  109.726 
Richard B. Worley  $1-$10,000  117.024  None  0.000  $1-$10,000  109.726 
Robert L. Reynolds  $1-$10,000  102.183  $1-$10,000  100.000  $1-$10,000  100.000 
        (7.98%)  $10,001-$50,000  4,646.164 
          (Class Y Shares)  (Class Y Shares) 
Trustees and Officers  Over $100,000  151,148.169  $1-$10,000  200.000  Over $100,000  106,671.544 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  $10,001-$50,000  4,741.469    (15.97%)  Over $100,000  62,288.841 
  (Class Y Shares)  (Class Y Shares)      (Class Y Shares)  (Class Y Shares) 

B-2


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam California Tax Exempt Income Fund  Putnam Capital Opportunities Fund  Putnam Capital Spectrum Fund 
Ravi Akhoury  $1-$10,000  101.101  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  $1-$10,000  262.805  $10,001-$50,000  2,099.255  $10,001-$50,000  1,664.448 
Charles B. Curtis  $1-$10,000  151.828  $1-$10,000  156.590  $1-$10,000  133.779 
Robert J. Darretta  $1-$10,000  109.158  $1-$10,000  111.177  $1-$10,000  100.000 
Myra R. Drucker  $1-$10,000  127.872  $1-$10,000  147.103  $1-$10,000  100.000 
John A. Hill  $1-$10,000  209.054  Over $100,000  20,763.436  Over $100,000  6,752.194 
Paul L. Joskow  $1-$10,000  203.342  $1-$10,000  270.093  $1-$10,000  167.224 
Elizabeth T. Kennan  $1-$10,000  143.242  $10,001-$50,000  1,624.457  $1-$10,000  330.688 
Kenneth R. Leibler  $1-$10,000  113.096  $1-$10,000  125.300  $1-$10,000  100.000 
Robert E. Patterson  $1-$10,000  129.406  $10,001-$50,000  2,234.669  $1-$10,000  100.000 
George Putnam, III  $10,001-$50,000  1,649.763  $10,001-$50,000  1,754.049  $10,001-$50,000  1,003.344 
W. Thomas Stephens  $1-$10,000  183.752  $1-$10,000  147.103  $1-$10,000  100.000 
Richard B. Worley  $1-$10,000  127.630  $1-$10,000  147.103  $1-$10,000  100.000 
Robert L. Reynolds  $1-$10,000  102.117  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  $10,001-$50,000  3,614.166  Over $100,000  29,780.335  Over $100,000  10,851.677 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
      $50,001-$100,000  9,801.682  Over $100,000  (1.55%) 
      (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  24,098.930 
            (Class Y Shares) 
            (3.65%) 
  Putnam Convertible Income-Growth Trust  Putnam Diversified Income Trust  Putnam Emerging Markets Equity Fund 
Ravi Akhoury  $1-$10,000  102.139  $1-$10,000  103.732  $1-$10,000  100.000 
Jameson A. Baxter  Over $100,000  7,482.259  $50,001-$100,000  10,627.176  $10,001-$50,000  3,692.762 
Charles B. Curtis  $1-$10,000  134.481  $1-$10,000  297.985  $1-$10,000  100.000 
Robert J. Darretta  $1-$10,000  106.954  $1-$10,000  116.897  $1-$10,000  100.000 
Myra R. Drucker  $1-$10,000  116.748  $1-$10,000  1,414.816  $1-$10,000  100.000 
John A. Hill  Over $100,000  38,286.046  Over $100,000  165,242.437  $1-$10,000  500.000 
Paul L. Joskow  $10,001-$50,000  2,135.670  $1-$10,000  465.336  $1-$10,000  158.983 
Elizabeth T. Kennan  $10,001-$50,000  1,603.346  $50,001-$100,000  9,253.229  $1-$10,000  571.431 
Kenneth R. Leibler  $1-$10,000  109.077  $1-$10,000  121.728  $1-$10,000  100.000 
Robert E. Patterson  $50,001-$100,000  3,776.440  $10,001-$50,000  1,686.528  $1-$10,000  100.000 
George Putnam, III  Over $100,000  14,624.437  $10,001-$50,000  6,526.946  $10,001-$50,000  1,503.759 
W. Thomas Stephens  $1-$10,000  225.954  $1-$10,000  419.702  $1-$10,000  100.000 
Richard B. Worley  $1-$10,000  115.815  $1-$10,000  139.123  $1-$10,000  100.000 
Robert L. Reynolds  $1-$10,000  102.139  $1-$10,000  105.729  $1-$10,000  100.000 
Trustees and Officers  Over $100,000  70,169.718  Over $100,000  302,453.434  $50,001-$100,000  7,326.935 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  Over $100,000  33,049.404  Over $100,000  77,521.530  Over $100,000  15,164.699 
  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 
    (1.58%)        (10.02%) 

B-3


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam Equity Income Fund  Putnam Equity Spectrum Fund  Putnam Europe Equity Fund 
Ravi Akhoury  $1-$10,000  100.996  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  Over $100,000  13,607.496  $10,001-$50,000  1,668.892  $10,001-$50,000  2,789.669 
Charles B. Curtis  $1-$10,000  273.907  $1-$10,000  135.044  $1-$10,000  133.974 
Robert J. Darretta  $1-$10,000  208.222  $1-$10,000  100.000  $1-$10,000  122.007 
Myra R. Drucker  $10,001-$50,000  2,353.318  $1-$10,000  100.000  $1-$10,000  127.803 
John A. Hill  Over $100,000  21,175.440  Over $100,000  6,821.282  $1-$10,000  639.019 
        (1.72%)     
Paul L. Joskow  Over $100,000  17,686.574  $1-$10,000  168.805  $1-$10,000  593.546 
Elizabeth T. Kennan  $10,001-$50,000  1,593.759  $1-$10,000  198.807  $10,001-$50,000  936.112 
Kenneth R. Leibler  $1-$10,000  231.033  $1-$10,000  100.000  $1-$10,000  124.657 
Robert E. Patterson  $10,001-$50,000  3,338.147  $1-$10,000  100.000  $10,001-$50,000  2,473.942 
George Putnam, III  Over $100,000  57,154.871  $10,001-$50,000  1,005.362  $10,001-$50,000  1,193.131 
W. Thomas Stephens  $1-$10,000  376.099  $1-$10,000  100.000  $1-$10,000  171.780 
Richard B. Worley  $1-$10,000  252.400  $1-$10,000  100.000  $1-$10,000  127.803 
Robert L. Reynolds  $1-$10,000  100.996  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  Over $100,000  123,118.914  Over $100,000  10,798.192  Over $100,000  10,194.720 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  Over $100,000  35,235.215    (2.73%)     
  (Class Y Shares)  (Class Y Shares)         
  Putnam Floating Rate Income Fund  The Putnam Fund for Growth and Income  The George Putnam Fund of Boston 
Ravi Akhoury  $1-$10,000  100.919  $1-$10,000  100.941  $1-$10,000  101.043 
Jameson A. Baxter  $10,001-$50,000  2,524.656  Over $100,000  14,369.217  Over $100,000  14,452.830 
Charles B. Curtis  $1-$10,000  123.105  $1-$10,000  272.006  $1-$10,000  361.780 
Robert J. Darretta  $1-$10,000  111.153  $1-$10,000  222.649  $1-$10,000  121.972 
Myra R. Drucker  $1-$10,000  128.533  $1-$10,000  248.998  $1-$10,000  144.863 
John A. Hill  $1-$10,000  102.156  Over $100,000  32,662.080  Over $100,000  25,013.813 
Paul L. Joskow  $1-$10,000  227.089  Over $100,000  13,163.607  $10,001-$50,000  2,448.268 
Elizabeth T. Kennan  $1-$10,000  121.004  $1-$10,000  549.345  $1-$10,000  797.507 
Kenneth R. Leibler  $1-$10,000  116.642  $1-$10,000  240.257  $1-$10,000  135.307 
Robert E. Patterson  $1-$10,000  1,226.814  $10,001-$50,000  1,416.221  $10,001-$50,000  1,479.845 
George Putnam, III  $10,001-$50,000  4,416.485  Over $100,000  14,093.755  Over $100,000  39,223.546 
W. Thomas Stephens  $50,001-$100,000  8,142.333  $1-$10,000  380.935  $1-$10,000  372.239 
Richard B. Worley  $1-$10,000  128.296  $1-$10,000  248.998  $1-$10,000  144.863 
Robert L. Reynolds  $1-$10,000  101.976  $1-$10,000  100.941  $1-$10,000  102.604 
Trustees and Officers  Over $100,000  18,276.508  Over $100,000  78,105.912  Over $100,000  86,653.129 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  Over $100,000  55,754.996  Over $100,000  19,937.263  $50,001-$100,000  7,906.376 
  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 
  Putnam Global Consumer Fund  Putnam Global Energy Fund  Putnam Global Equity Fund 
Ravi Akhoury  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  $1-$10,000  526.870  $1-$10,000  482.160  $50,001-$100,000  11,227.448 
Charles B. Curtis  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  451.962 
Robert J. Darretta  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  102.965 
Myra R. Drucker  $1-$10,000  100.000  $1-$10,000  100.000  $10,001-$50,000  3,355.073 
John A. Hill  $1-$10,000  100.000  $1-$10,000  100.000  Over $100,000  38,624.589 
Paul L. Joskow  $1-$10,000  146.056  $1-$10,000  138.376  $1-$10,000  652.572 
Elizabeth T. Kennan  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  1,194.835 
Kenneth R. Leibler  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  104.598 
Robert E. Patterson  $1-$10,000  100.000  $1-$10,000  100.000  $50,001-$100,000  11,106.153 
George Putnam, III  $10,001-$50,000  1,126.126  $10,001-$50,000  1,111.111  Over $100,000  34,309.815 
W. Thomas Stephens  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  660.501 
Richard B. Worley  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  105.713 
Robert L. Reynolds  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  $10,001-$50,000  2,899.052  $10,001-$50,000  2,831.647  Over $100,000  103,265.797 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
          $50,001-$100,000  8,361.135 
          (Class Y Shares)  (Class Y Shares) 

B-4


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam Global Financials Fund  Putnam Global Health Care Fund  Putnam Global Income Trust 
Ravi Akhoury  $1-$10,000  100.000  $50,001-$100,000  1,333.350  $1-$10,000  102.312 
Jameson A. Baxter  $1-$10,000  574.053  $1-$10,000  228.195  $10,001-$50,000  1,059.711 
Charles B. Curtis  $1-$10,000  100.000  $1-$10,000  162.208  $1-$10,000  152.934 
Robert J. Darretta  $1-$10,000  100.000  $1-$10,000  127.791  $1-$10,000  111.704 
Myra R. Drucker  $1-$10,000  100.000  $1-$10,000  162.208  $1-$10,000  126.874 
John A. Hill  $1-$10,000  100.000  Over $100,000  4,588.034  $1-$10,000  176.079 
Paul L. Joskow  $1-$10,000  144.788  $10,001-$50,000  705.778  $1-$10,000  210.448 
Elizabeth T. Kennan  $1-$10,000  100.000  $1-$10,000  162.208  $1-$10,000  399.023 
Kenneth R. Leibler  $1-$10,000  100.000  $1-$10,000  141.266  $1-$10,000  114.987 
Robert E. Patterson  $1-$10,000  100.000  $10,001-$50,000  371.480  $10,001-$50,000  922.979 
George Putnam, III  $10,001-$50,000  1,396.648  Over $100,000  4,448.910  $50,001-$100,000  4,408.805 
W. Thomas Stephens  $1-$10,000  100.000  $1-$10,000  224.231  $1-$10,000  191.873 
Richard B. Worley  $1-$10,000  100.000  $1-$10,000  162.208  $1-$10,000  126.607 
Robert L. Reynolds  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  103.487 
Trustees and Officers  $10,001-$50,000  3,215.489  Over $100,000  12,942.730  $50,001-$100,000  8,207.823 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  Over $100,000  25,063.017  Over $100,000  4,575.853  Over $100,000  13,406.264 
  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 
    (65.45%)    (1.35%)    (3.26%) 
  Putnam Global Industrials Fund  Putnam Global Natural Resources Fund  Putnam Global Technology Fund 
Ravi Akhoury  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  $1-$10,000  520.833  $10,001-$50,000  1,439.019  $1-$10,000  478.011 
Charles B. Curtis  $1-$10,000  100.000  $1-$10,000  228.718  $1-$10,000  100.000 
Robert J. Darretta  $1-$10,000  100.000  $1-$10,000  142.671  $1-$10,000  100.000 
Myra R. Drucker  $1-$10,000  100.000  $1-$10,000  201.496  $1-$10,000  100.000 
John A. Hill  $1-$10,000  100.000  Over $100,000  12,510.731  $1-$10,000  100.000 
Paul L. Joskow  $1-$10,000  140.845  $1-$10,000  249.031  $1-$10,000  141.509 
Elizabeth T. Kennan  $1-$10,000  100.000  $10,001-$50,000  2,103.902  $1-$10,000  100.000 
Kenneth R. Leibler  $1-$10,000  100.000  $1-$10,000  160.002  $1-$10,000  100.000 
Robert E. Patterson  $1-$10,000  100.000  $1-$10,000  556.234  $1-$10,000  100.000 
George Putnam, III  $10,001-$50,000  1,234.568  $10,001-$50,000  2,446.772  $10,001-$50,000  1,084.599 
W. Thomas Stephens  $1-$10,000  100.000  $1-$10,000  301.720  $1-$10,000  100.000 
Richard B. Worley  $1-$10,000  100.000  $1-$10,000  201.496  $1-$10,000  100.000 
Robert L. Reynolds  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  $10,001-$50,000  2,996.246  Over $100,000  20,741.792  $10,001-$50,000  2,804.119 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
      Over $100,000  7,781.644     
      (Class Y Shares)  (Class Y Shares)     
        (1.24%)     

B-5


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam Global Telecommunications Fund  Putnam Global Utilities Fund  Putnam Growth Opportunities Fund 
Ravi Akhoury  $1-$10,000  100.000  $1-$10,000  101.451  $1-$10,000  100.000 
Jameson A. Baxter  $1-$10,000  531.915  $1-$10,000  686.316  $1-$10,000  479.604 
Charles B. Curtis  $1-$10,000  100.000  $1-$10,000  124.878  $1-$10,000  105.939 
Robert J. Darretta  $1-$10,000  100.000  $1-$10,000  104.968  $1-$10,000  100.000 
Myra R. Drucker  $1-$10,000  100.000  $1-$10,000  110.876  $1-$10,000  100.867 
John A. Hill  $1-$10,000  100.000  $10,001-$50,000  3,577.554  $10,001-$50,000  2,532.828 
Paul L. Joskow  $1-$10,000  147.929  $10,001-$50,000  1,047.059  $1-$10,000  834.652 
Elizabeth T. Kennan  $1-$10,000  100.000  $1-$10,000  122.891  $1-$10,000  100.867 
Kenneth R. Leibler  $1-$10,000  100.000  $1-$10,000  106.034  $1-$10,000  100.000 
Robert E. Patterson  $1-$10,000  100.000  $1-$10,000  759.653  $10,001-$50,000  2,146.569 
George Putnam, III  $10,001-$50,000  1,173.709  $10,001-$50,000  2,302.391  $10,001-$50,000  2,785.949 
W. Thomas Stephens  $1-$10,000  100.000  $1-$10,000  179.645  $1-$10,000  101.894 
Richard B. Worley  $1-$10,000  100.000  $1-$10,000  110.298  $1-$10,000  100.867 
Robert L. Reynolds  $1-$10,000  100.000  $1-$10,000  101.451  $1-$10,000  100.000 
Trustees and Officers  $10,001-$50,000  2,953.553  $50,001-$100,000  9,435.465  Over $100,000  9,772.107 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
      $1-$10,000  548.835  $10,001-$50,000  1,117.922 
      (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 
  Putnam High Yield Advantage Fund  Putnam High Yield Trust  Putnam Income Fund 
Ravi Akhoury  $1-$10,000  103.082  $1-$10,000  103.139  $1-$10,000  102.907 
Jameson A. Baxter  $10,001-$50,000  3,180.238  Over $100,000  23,324.278  $10,001-$50,000  4,937.261 
Charles B. Curtis  $1-$10,000  199.006  $1-$10,000  539.814  $1-$10,000  151.476 
Robert J. Darretta  $1-$10,000  117.935  $1-$10,000  117.628  $1-$10,000  115.377 
Myra R. Drucker  $1-$10,000  143.673  $1-$10,000  296.035  $1-$10,000  129.018 
John A. Hill  $50,001-$100,000  19,007.694  Over $100,000  17,431.120  Over $100,000  177,776.464 
Paul L. Joskow  $10,001-$50,000  4,555.602  $50,001-$100,000  8,601.853  $1-$10,000  258.071 
Elizabeth T. Kennan  $1-$10,000  633.369  $1-$10,000  853.422  $10,001-$50,000  4,277.182 
Kenneth R. Leibler  $1-$10,000  124.554  $1-$10,000  124.170  $1-$10,000  119.566 
Robert E. Patterson  $50,001-$100,000  11,244.766  $50,001-$100,000  8,706.869  $10,001-$50,000  1,810.768 
George Putnam, III  $10,001-$50,000  4,325.059  Over $100,000  25,640.666  $10,001-$50,000  7,413.692 
W. Thomas Stephens  $1-$10,000  292.670  $1-$10,000  500.037  $1-$10,000  190.829 
Richard B. Worley  $1-$10,000  143.673  $1-$10,000  287.614  $1-$10,000  129.018 
Robert L. Reynolds  $1-$10,000  104.753  $1-$10,000  104.862  $1-$10,000  104.464 
Trustees and Officers  Over $100,000  44,176.074  Over $100,000  88,486.291  Over $100,000  221,439.013 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  $10,001-$50,000  2,142.788  Over $100,000  45,682.860  Over $100,000  233,156.662 
  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 

B-6


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
      Putnam International Capital     
  Putnam Income Strategies Fund  Opportunities Fund  Putnam International Equity Fund 
Ravi Akhoury  $1-$10,000  102.134  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  $10,001-$50,000  6,049.886  Over $100,000  9,436.596  Over $100,000  12,046.543 
Charles B. Curtis  $1-$10,000  123.903  Over $100,000  4,681.229  Over $100,000  6,641.256 
Robert J. Darretta  $1-$10,000  114.596  $1-$10,000  107.496  $1-$10,000  123.413 
Myra R. Drucker  $1-$10,000  123.540  $1-$10,000  112.847  $1-$10,000  136.557 
John A. Hill  Over $100,000  29,391.280  $10,001-$50,000  858.114  Over $100,000  23,671.129 
    (2.10%)         
Paul L. Joskow  $1-$10,000  588.939  $10,001-$50,000  458.875  $50,001-$100,000  3,436.552 
Elizabeth T. Kennan  $10,001-$50,000  2,142.266  $10,001-$50,000  1,659.332  $1-$10,000  561.098 
Kenneth R. Leibler  $1-$10,000  118.732  $1-$10,000  109.672  $1-$10,000  131.994 
Robert E. Patterson  $1-$10,000  1,181.065  $10,001-$50,000  1,966.800  $50,001-$100,000  4,968.024 
George Putnam, III  $10,001-$50,000  3,533.617  $10,001-$50,000  1,850.698  $50,001-$100,000  5,509.071 
W. Thomas Stephens  $1-$10,000  123.903  $1-$10,000  135.033  $1-$10,000  244.579 
Richard B. Worley  $1-$10,000  116.510  $1-$10,000  112.847  $1-$10,000  136.557 
Robert L. Reynolds  $1-$10,000  103.301  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  Over $100,000  43,935.196  Over $100,000  22,738.588  Over $100,000  63,064.443 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
    (3.15%)  Over $100,000  12,346.292  $50,001-$100,000  3,486.918 
      (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 
  Putnam International Growth  Putnam International New     
  and Income Fund  Opportunities Fund  Putnam Investors Fund 
Ravi Akhoury  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  $50,001-$100,000  8,756.289  $10,001-$50,000  3,588.827  Over $100,000  16,562.067 
Charles B. Curtis  $1-$10,000  142.429  $1-$10,000  105.952  $1-$10,000  339.611 
Robert J. Darretta  $1-$10,000  120.787  $1-$10,000  101.357  $1-$10,000  329.050 
Myra R. Drucker  $1-$10,000  135.602  $1-$10,000  103.705  $10,001-$50,000  3,020.863 
John A. Hill  Over $100,000  18,043.415  $50,001-$100,000  5,031.033  Over $100,000  48,193.893 
Paul L. Joskow  $1-$10,000  1,019.160  $10,001-$50,000  1,426.685  $50,001-$100,000  9,840.702 
Elizabeth T. Kennan  $1-$10,000  879.333  $1-$10,000  205.034  $10,001-$50,000  3,384.795 
Kenneth R. Leibler  $1-$10,000  132.981  $1-$10,000  101.807  $1-$10,000  329.267 
Robert E. Patterson  $50,001-$100,000  7,500.133  $10,001-$50,000  4,010.708  $50,001-$100,000  7,311.853 
George Putnam, III  $10,001-$50,000  3,008.279  $50,001-$100,000  7,270.555  $50,001-$100,000  6,168.940 
W. Thomas Stephens  $1-$10,000  202.078  $1-$10,000  153.497  $1-$10,000  400.824 
Richard B. Worley  $1-$10,000  135.602  $1-$10,000  103.705  $1-$10,000  331.175 
Robert L. Reynolds  $1-$10,000  100.000  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  Over $100,000  41,355.435  Over $100,000  23,822.031  Over $100,000  98,924.856 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  $10,001-$50,000  5,274.831  Over $100,000  10,679.712  Over $100,000  36,678.952 
  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 

B-7


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam Massachusetts Tax Exempt         
  Income Fund  Putnam Michigan Tax Exempt Income Fund  Putnam Mid Cap Value Fund 
Ravi Akhoury  $1-$10,000  100.942  $1-$10,000  100.944  $1-$10,000  100.000 
Jameson A. Baxter  $1-$10,000  207.487  $1-$10,000  198.223  $10,001-$50,000  2,397.257 
Charles B. Curtis  $1-$10,000  143.568  $1-$10,000  141.360  $1-$10,000  161.508 
Robert J. Darretta  $1-$10,000  108.990  $1-$10,000  107.757  $1-$10,000  119.807 
Myra R. Drucker  $1-$10,000  123.764  $1-$10,000  119.852  $1-$10,000  152.392 
John A. Hill  $1-$10,000  190.802  $1-$10,000  180.460  $1-$10,000  165.961 
Paul L. Joskow  $1-$10,000  171.960  $1-$10,000  176.980  $1-$10,000  182.980 
Elizabeth T. Kennan  $1-$10,000  125.063  $1-$10,000  116.606  $1-$10,000  469.860 
Kenneth R. Leibler  $1-$10,000  112.570  $1-$10,000  111.035  $1-$10,000  134.415 
Robert E. Patterson  $1-$10,000  102.483  $1-$10,000  121.197  $10,001-$50,000  1,909.536 
George Putnam, III  $50,001-$100,000  6,641.649  $10,001-$50,000  1,411.609  $10,001-$50,000  3,260.326 
W. Thomas Stephens  $1-$10,000  173.513  $1-$10,000  167.770  $1-$10,000  152.392 
Richard B. Worley  $1-$10,000  123.526  $1-$10,000  119.649  $1-$10,000  152.392 
Robert L. Reynolds  $1-$10,000  102.359  $1-$10,000  101.799  $1-$10,000  100.000 
Trustees and Officers  Over $100,000  23,998.416  $10,001-$50,000  3,175.241  $50,001-$100,000  9,718.732 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
          Over $100,000  19,698.384 
          (Class Y Shares)  (Class Y Shares) 
  Putnam Minnesota Tax Exempt Income Fund  Putnam Money Market Fund  Putnam New Jersey Tax Exempt Income Fund 
Ravi Akhoury  $1-$10,000  100.862  $50,001-$100,000  75,337.280  $1-$10,000  100.933 
Jameson A. Baxter  $1-$10,000  196.300  $50,001-$100,000  99,711.210  $1-$10,000  202.377 
Charles B. Curtis  $1-$10,000  139.454  Over $100,000  141,570.540  $1-$10,000  139.535 
Robert J. Darretta  $1-$10,000  107.486  Over $100,000  507,962.080  $1-$10,000  107.966 
Myra R. Drucker  $1-$10,000  120.113  $1-$10,000  115.700  $1-$10,000  120.527 
John A. Hill  $1-$10,000  240.878  Over $100,000  212,767.220  $1-$10,000  250.914 
Paul L. Joskow  $1-$10,000  178.223  Over $100,000  236,964.630  $1-$10,000  174.813 
Elizabeth T. Kennan  $1-$10,000  117.004  $1-$10,000  9,252.070  $1-$10,000  121.732 
Kenneth R. Leibler  $1-$10,000  110.840  $1-$10,000  3,659.470  $1-$10,000  111.440 
Robert E. Patterson  $1-$10,000  121.426  Over $100,000  106,747.040  $1-$10,000  121.743 
George Putnam, III  $10,001-$50,000  1,418.280  Over $100,000  397,841.990  $10,001-$50,000  1,374.548 
W. Thomas Stephens  $1-$10,000  166.739  Over $100,000  369,501.420  $1-$10,000  166.428 
Richard B. Worley  $1-$10,000  119.882  $1-$10,000  2,909.210  $1-$10,000  120.286 
Robert L. Reynolds  $1-$10,000  101.650  $50,001-$100,000  53,904.380  $1-$10,000  101.758 
Trustees and Officers  $10,001-$50,000  3,239.137  Over $100,000  3,029,030.470  $10,001-$50,000  3,215.000 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  Putnam New Opportunities Fund  Putnam New York Tax Exempt Income Fund  Putnam Ohio Tax Exempt Income Fund 
Ravi Akhoury  $1-$10,000  100.000  $1-$10,000  100.998  $1-$10,000  100.942 
Jameson A. Baxter  Over $100,000  4,514.129  $1-$10,000  942.274  $1-$10,000  198.159 
Charles B. Curtis  $1-$10,000  184.036  $1-$10,000  489.182  $1-$10,000  138.557 
Robert J. Darretta  $1-$10,000  139.653  $1-$10,000  108.317  $1-$10,000  108.001 
Myra R. Drucker  $1-$10,000  139.653  $1-$10,000  308.202  $1-$10,000  120.704 
John A. Hill  $10,001-$50,000  1,401.936  Over $100,000  118,827.202  $1-$10,000  260.776 
Paul L. Joskow  $10,001-$50,000  1,116.807  Over $100,000  15,812.553  $1-$10,000  178.636 
Elizabeth T. Kennan  $1-$10,000  145.147  $1-$10,000  564.439  $1-$10,000  117.293 
Kenneth R. Leibler  $1-$10,000  139.653  $1-$10,000  270.390  $1-$10,000  111.434 
Robert E. Patterson  $10,001-$50,000  626.801  $1-$10,000  297.907  $1-$10,000  121.999 
George Putnam, III  $50,001-$100,000  1,596.493  $10,001-$50,000  3,612.024  $10,001-$50,000  1,406.875 
W. Thomas Stephens  $1-$10,000  216.699  $1-$10,000  178.271  $1-$10,000  168.022 
Richard B. Worley  $1-$10,000  139.653  $1-$10,000  300.011  $1-$10,000  120.488 
Robert L. Reynolds  $1-$10,000  100.000  $1-$10,000  101.909  $1-$10,000  101.801 
Trustees and Officers  Over $100,000  11,498.645  Over $100,000  141,913.679  $10,001-$50,000  3,253.687 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  Over $100,000  4,588.332         
  (Class Y Shares)  (Class Y Shares)         

B-8


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam Pennsylvania Tax Exempt      Putnam RetirementReady 2010 Fund 
  Income Fund  Putnam Research Fund  (Class Y Shares) 
Ravi Akhoury  $1-$10,000  100.930  $1-$10,000  100.000  None  0.000 
Jameson A. Baxter  $1-$10,000  205.231  $1-$10,000  423.972  None  0.000 
Charles B. Curtis  $1-$10,000  139.567  $1-$10,000  107.374  None  0.000 
Robert J. Darretta  $1-$10,000  107.773  $1-$10,000  101.409  None  0.000 
Myra R. Drucker  $1-$10,000  120.283  $1-$10,000  102.294  None  0.000 
John A. Hill  $1-$10,000  256.779  $50,001-$100,000  5,687.307  None  0.000 
Paul L. Joskow  $1-$10,000  179.888  $50,001-$100,000  5,586.933  None  0.000 
Elizabeth T. Kennan  $1-$10,000  121.671  $1-$10,000  148.760  None  0.000 
Kenneth R. Leibler  $1-$10,000  111.178  $1-$10,000  101.519  None  0.000 
Robert E. Patterson  $1-$10,000  121.666  $1-$10,000  145.779  None  0.000 
George Putnam, III  $10,001-$50,000  1,400.350  $10,001-$50,000  1,777.948  None  0.000 
W. Thomas Stephens  $1-$10,000  171.705  $1-$10,000  102.294  None  0.000 
Richard B. Worley  $1-$10,000  120.095  $1-$10,000  102.294  None  0.000 
Robert L. Reynolds  $1-$10,000  101.798  $1-$10,000  100.000  None  0.000 
Trustees and Officers  $10,001-$50,000  3,258.914  Over $100,000  14,587.883  $1-$10,000  275.545 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class Y Shares)  (Class Y Shares) 
      $10,001-$50,000  3,915.314     
      (Class Y Shares)  (Class Y Shares)     
        (1.21%)     
  Putnam RetirementReady 2015 Fund  Putnam RetirementReady 2020 Fund  Putnam RetirementReady 2025 Fund 
Ravi Akhoury  None  0.000  None  0.000  None  0.000 
Jameson A. Baxter  None  0.000  $10,001-$50,000  1,376.352  None  0.000 
Charles B. Curtis  None  0.000  $1-$10,000  429.495  None  0.000 
Robert J. Darretta  None  0.000  None  0.000  $1-$10,000  403.896 
Myra R. Drucker  None  0.000  $50,001-$100,000  5,770.369  None  0.000 
John A. Hill  None  0.000  None  0.000  None  0.000 
Paul L. Joskow  $1-$10,000  636.384  None  0.000  None  0.000 
Elizabeth T. Kennan  None  0.000  None  0.000  None  0.000 
Kenneth R. Leibler  $1-$10,000  392.844  None  0.000  None  0.000 
Robert E. Patterson  None  0.000  $1-$10,000  624.441  None  0.000 
George Putnam, III  None  0.000  None  0.000  $10,001-$50,000  1,402.248 
W. Thomas Stephens  $1-$10,000  417.087  None  0.000  None  0.000 
Richard B. Worley  None  0.000  $1-$10,000  300.000  None  0.000 
Robert L. Reynolds  None  0.000  None  0.000  None  0.000 
Trustees and Officers  $10,001-$50,000  1,446.315  Over $100,000  8,500.657  $10,001-$50,000  1,806.144 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  $10,001-$50,000  3,183.074         
  (Class Y Shares)  (Class Y Shares)         
  Putnam RetirementReady 2040 Fund  Putnam RetirementReady 2045 Fund  Putnam RetirementReady 2050 Fund 
Ravi Akhoury  None  0.000  None  0.000  None  0.000 
Jameson A. Baxter  None  0.000  None  0.000  None  0.000 
Charles B. Curtis  None  0.000  None  0.000  None  0.000 
Robert J. Darretta  None  0.000  None  0.000  None  0.000 
Myra R. Drucker  None  0.000  None  0.000  None  0.000 
John A. Hill  None  0.000  None  0.000  $10,001-$50,000  1,567.470 
Paul L. Joskow  None  0.000  None  0.000  None  0.000 
Elizabeth T. Kennan  None  0.000  $1-$10,000  449.202  None  0.000 
Kenneth R. Leibler  None  0.000  None  0.000  None  0.000 
Robert E. Patterson  None  0.000  None  0.000  None  0.000 
George Putnam, III  None  0.000  None  0.000  None  0.000 
W. Thomas Stephens  None  0.000  None  0.000  None  0.000 
Richard B. Worley  None  0.000  None  0.000  None  0.000 
Robert L. Reynolds  $1-$10,000  300.000  None  0.000  None  0.000 
Trustees and Officers  $1-$10,000  300.000  $1-$10,000  449.202  $10,001-$50,000  1,567.470 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 

B-9


  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially  Dollar Range of  Shares Beneficially 
Trustees/Officers  Shares Owned  Owned  Shares Owned  Owned  Shares Owned  Owned 
  Putnam RetirementReady Maturity Fund  Putnam Small Cap Growth Fund  Putnam Small Cap Value Fund 
Ravi Akhoury  $1-$10,000  305.566  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  None  0.000  $10,001-$50,000  924.796  $10,001-$50,000  4,927.330 
Charles B. Curtis  None  0.000  $1-$10,000  703.239  $1-$10,000  238.558 
Robert J. Darretta  None  0.000  $1-$10,000  115.419  $1-$10,000  136.042 
Myra R. Drucker  None  0.000  $1-$10,000  131.168  $1-$10,000  220.835 
John A. Hill  None  0.000  $50,001-$100,000  7,187.490  Over $100,000  30,510.193 
Paul L. Joskow  None  0.000  $1-$10,000  136.997  $10,001-$50,000  3,010.159 
Elizabeth T. Kennan  None  0.000  $1-$10,000  524.672  $1-$10,000  838.497 
Kenneth R. Leibler  None  0.000  $1-$10,000  122.450  $1-$10,000  164.073 
Robert E. Patterson  None  0.000  $1-$10,000  590.611  $10,001-$50,000  1,975.309 
George Putnam, III  None  0.000  Over $100,000  9,590.839  $10,001-$50,000  3,509.266 
W. Thomas Stephens  None  0.000  $1-$10,000  131.168  $1-$10,000  220.835 
Richard B. Worley  None  0.000  $1-$10,000  131.168  $1-$10,000  220.835 
Robert L. Reynolds  None  0.000  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  $1-$10,000  305.566  Over $100,000  20,574.150  Over $100,000  46,171.932 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  $1-$10,000  126.329  $10,001-$50,000  2,883.484  Over $100,000  19,796.557 
  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 
  Putnam Tax Exempt Income Fund  Putnam Tax Exempt Money Market Fund  Putnam Tax-Free High Yield Fund 
Ravi Akhoury  $1-$10,000  101.072  $1-$10,000  100.000  $1-$10,000  101.448 
Jameson A. Baxter  $10,001-$50,000  3,031.339  $1-$10,000  2,269.450  $10,001-$50,000  1,449.197 
Charles B. Curtis  $1-$10,000  498.339  $1-$10,000  1,691.310  $1-$10,000  254.773 
Robert J. Darretta  $1-$10,000  108.746  $1-$10,000  102.880  $1-$10,000  110.947 
Myra R. Drucker  $1-$10,000  443.754  Over $100,000  127,877.190  $1-$10,000  212.672 
John A. Hill  $1-$10,000  1,132.478  Over $100,000  1,666,716.040  $1-$10,000  456.734 
        (2.41%)     
Paul L. Joskow  $1-$10,000  537.406  $1-$10,000  3,492.030  $1-$10,000  317.479 
Elizabeth T. Kennan  $1-$10,000  451.195  $1-$10,000  165.450  $1-$10,000  215.378 
Kenneth R. Leibler  $1-$10,000  274.899  $1-$10,000  105.790  $1-$10,000  115.058 
Robert E. Patterson  $1-$10,000  513.207  $1-$10,000  100.000  $1-$10,000  215.494 
George Putnam, III  $10,001-$50,000  5,196.480  $10,001-$50,000  10,942.710  $10,001-$50,000  3,062.465 
W. Thomas Stephens  $1-$10,000  357.511  Over $100,000  209,630.850  $1-$10,000  313.735 
Richard B. Worley  $1-$10,000  435.055  $1-$10,000  110.860  $1-$10,000  212.144 
Robert L. Reynolds  $1-$10,000  102.088  $1-$10,000  100.000  $1-$10,000  102.796 
Trustees and Officers  Over $100,000  13,183.569  Over $100,000  2,236,076.350  $50,001-$100,000  7,140.320 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
        (3.23%)     
  Putnam U.S. Government Income Trust  Putnam Vista Fund  Putnam Voyager Fund 
Ravi Akhoury  $1-$10,000  101.561  $1-$10,000  100.000  $1-$10,000  100.000 
Jameson A. Baxter  $10,001-$50,000  2,290.777  Over $100,000  16,568.336  $50,001-$100,000  6,391.651 
Charles B. Curtis  $50,001-$100,000  4,068.861  $1-$10,000  199.673  $1-$10,000  109.618 
Robert J. Darretta  $1-$10,000  109.089  $1-$10,000  186.546  $1-$10,000  100.000 
Myra R. Drucker  $1-$10,000  168.298  $10,001-$50,000  2,321.473  $1-$10,000  100.707 
John A. Hill  Over $100,000  9,100.127  Over $100,000  14,987.079  Over $100,000  23,945.141 
Paul L. Joskow  $1-$10,000  318.241  $10,001-$50,000  2,113.340  $50,001-$100,000  3,223.712 
Elizabeth T. Kennan  $1-$10,000  539.540  $10,001-$50,000  3,040.750  $1-$10,000  591.262 
Kenneth R. Leibler  $1-$10,000  156.288  $1-$10,000  186.546  $1-$10,000  100.000 
Robert E. Patterson  $10,001-$50,000  1,965.619  $10,001-$50,000  2,737.438  $10,001-$50,000  2,048.427 
George Putnam, III  $10,001-$50,000  3,067.300  Over $100,000  15,858.696  $10,001-$50,000  2,198.233 
W. Thomas Stephens  Over $100,000  80,444.418  $1-$10,000  302.102  $1-$10,000  149.155 
Richard B. Worley  $1-$10,000  168.257  $1-$10,000  186.546  $1-$10,000  100.707 
Robert L. Reynolds  $1-$10,000  102.369  $1-$10,000  100.000  $1-$10,000  100.000 
Trustees and Officers  Over $100,000  102,600.745  Over $100,000  62,294.019  Over $100,000  40,545.741 
as a group  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares)  (Class A Shares) 
  Over $100,000  93,191.139  Over $100,000  42,258.272  Over $100,000  18,332.787 
  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares)  (Class Y Shares) 
    (10.35%)         

B-10


Trustees/Officers  Dollar Range of Shares Owned 
All Funds
Ravi Akhoury  Over $100,000 
Jameson A. Baxter  Over $100,000 
Charles B. Curtis  Over $100,000 
Robert J. Darretta  Over $100,000 
Myra R. Drucker  Over $100,000 
John A. Hill  Over $100,000 
Paul L. Joskow  Over $100,000 
Elizabeth T. Kennan  Over $100,000 
Kenneth R. Leibler  Over $100,000 
Robert E. Patterson  Over $100,000 
George Putnam, III  Over $100,000 
W. Thomas Stephens  Over $100,000 
Richard B. Worley  Over $100,000 
Robert L. Reynolds  Over $100,000 
Trustees and Officers as a group  Over $100,000 

As of June 30, 2009, except as shown in the tables below, the Trustees, and the Trustees and officers as a group, did not own variable annuity contracts or variable life insurance policies that invested in the funds that are series of Putnam Variable Trust.* These tables show the value of the Trustees’ indirect beneficial ownership interest in these funds.

Putnam Variable Trust  Paul L. Joskow  Robert E. Patterson  George Putnam, III 
Putnam VT American Government Income Fund Class IB  $1-$10,000  —  — 
Putnam VT Capital Opportunities Fund Class IB  $1-$10,000  —  — 
Putnam VT Diversified Income Fund Class IB  $1-$10,000  —  — 
Putnam VT Equity Income Fund Class IB  $1-$10,000  —  — 
Putnam VT The George Putnam Fund of Boston Class IB  $1-$10,000  —  — 
Putnam VT Global Asset Allocation Fund Class IA  —  —  $10,001-$50,000 
Putnam VT Global Asset Allocation Fund Class IB  $1-$10,000  —  — 
Putnam VT Global Equity Fund Class IB  $1-$10,000  —  — 
Putnam VT Growth and Income Fund Class IB  $1-$10,000  —  — 
Putnam VT Growth Opportunities Fund Class IB  $1-$10,000  —  — 
Putnam VT High Yield Fund Class IA  —  $10,001-$50,000  — 
Putnam VT High Yield Fund Class IB  $1-$10,000  —  — 
Putnam VT Income Fund Class IB  $1-$10,000  —  — 
Putnam VT International Equity Fund Class IB  $1-$10,000  —  — 
Putnam VT International Growth and Income Fund Class IB  $1-$10,000  —  — 
Putnam VT International New Opportunities Fund Class IB  $1-$10,000  —  — 
Putnam VT Investors Fund Class IB  $1-$10,000  —  — 
Putnam VT Mid Cap Value Fund Class IB  $1-$10,000  —  — 
Putnam VT New Opportunities Fund Class IB  $1-$10,000  —  — 
Putnam VT Research Fund Class IB  $1-$10,000  —  — 
Putnam VT Small Cap Value Fund Class IB  $1-$10,000  —  — 
Putnam VT Vista Fund Class IB  $1-$10,000  —  — 
Putnam VT Voyager Fund Class IB  $1-$10,000  —  — 

* As reflected in the tables above, Trustees own shares of the retail Putnam funds that are counterparts to Putnam Variable Trust’s various portfolios.

B-11


Appendix C — Trustee Compensation Table

The table below includes the year each Trustee became a Trustee of the Putnam funds, the fees paid to each of those Trustees by each fund for its most recent fiscal year (ended between July 31, 2008 and June 30, 2009) and the fees paid to each of those Trustees by all of the Putnam funds during calendar year 2008.

    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam Absolute Return 100 Fund*  Putnam Absolute Return 300 Fund* 
Ravi Akhoury/2009(5)  1,644  N/A  1,757  N/A 
Jameson A. Baxter/1994(3)  1,736  139  1,855  159 
Charles B. Curtis/2001  1,736  102  1,855  117 
Robert J. Darretta/2007  1,736  N/A  1,855  N/A 
Myra R. Drucker/2004(3)  1,736  N/A  1,855  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,257  232  2,411  266 
Paul L. Joskow/1997(3)  1,736  91  1,855  104 
Elizabeth T. Kennan/1992(3)  1,736  194  1,855  222 
Kenneth R. Leibler/2006  1,736  N/A  1,855  N/A 
Robert E. Patterson/1984  1,736  127  1,855  145 
George Putnam, III/1984  1,736  109  1,855  125 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,370  0  1,463  0 
Richard B. Worley/2004  1,736  N/A  1,855  N/A 
  Putnam Absolute Return 500 Fund*  Putnam Absolute Return 700 Fund* 
Ravi Akhoury/2009(5)  1,785  N/A  1,689  N/A 
Jameson A. Baxter/1994(3)  1,884  165  1,783  147 
Charles B. Curtis/2001  1,884  122  1,783  109 
Robert J. Darretta/2007  1,884  N/A  1,783  N/A 
Myra R. Drucker/2004(3)  1,884  N/A  1,783  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,449  275  2,317  246 
Paul L. Joskow/1997(3)  1,884  108  1,783  97 
Elizabeth T. Kennan/1992(3)  1,884  230  1,783  206 
Kenneth R. Leibler/2006  1,884  N/A  1,783  N/A 
Robert E. Patterson/1984  1,884  151  1,783  135 
George Putnam, III/1984  1,884  129  1,783  116 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,486  0  1,406  0 
Richard B. Worley/2004  1,884  N/A  1,783  N/A 
  Putnam American Government Income Fund  Putnam AMT-Free Municipal Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,023  324  2,039  270 
Charles B. Curtis/2001  2,023  234  1,974  194 
Robert J. Darretta/2007  1,939  N/A  2,283  N/A 
Myra R. Drucker/2004(3)  2,023  N/A  2,039  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,605  540  2,521  450 
Paul L. Joskow/1997(3)  2,023  214  2,039  179 
Elizabeth T. Kennan/1992(3)  2,023  445  2,039  369 
Kenneth R. Leibler/2006  2,023  N/A  2,039  N/A 
Robert E. Patterson/1984  2,023  299  2,039  250 
George Putnam, III/1984  2,023  263  2,039  220 
Robert L. Reynolds/2008(6)  0  N/A  0  0 
W. Thomas Stephens/1997(7)  880  271  1,149  225 
Richard B. Worley/2004  2,023  N/A  2,039  N/A 

C-1


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam Arizona Tax Exempt Income Fund  Putnam Asia Pacific Equity Fund* 
Ravi Akhoury/2009(5)  582  N/A  1,541  N/A 
Jameson A. Baxter/1994(3)  1,823  238  1,627  4 
Charles B. Curtis/2001  1,726  174  1,627  3 
Robert J. Darretta/2007  1,823  N/A  1,627  N/A 
Myra R. Drucker/2004(3)  1,823  N/A  1,627  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,099  397  2,115  7 
Paul L. Joskow/1997(3)  1,789  156  1,627  3 
Elizabeth T. Kennan/1992(3)  1,823  330  1,627  6 
Kenneth R. Leibler/2006  1,823  N/A  1,627  N/A 
Robert E. Patterson/1984  1,823  218  1,627  4 
George Putnam, III/1984  1,823  189  1,627  3 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  N/A  259  1,283  0 
Richard B. Worley/2004  1,823  N/A  1,627  N/A 
  Putnam Asset Allocation: Balanced Portfolio  Putnam Asset Allocation: Conservative Portfolio 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  3,573  579  2,461  394 
Charles B. Curtis/2001  3,573  418  2,461  285 
Robert J. Darretta/2007  3,418  N/A  2,358  N/A 
Myra R. Drucker/2004(3)  3,573  N/A  2,461  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  4,621  965  3,168  657 
Paul L. Joskow/1997(3)  3,573  383  2,461  261 
Elizabeth T. Kennan/1992(3)  3,573  795  2,461  541 
Kenneth R. Leibler/2006  3,573  N/A  2,461  N/A 
Robert E. Patterson/1984  3,573  535  2,461  364 
George Putnam, III/1984  3,573  470  2,461  320 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,593  484  1,079  330 
Richard B. Worley/2004  3,573  N/A  2,461  N/A 
  Putnam Asset Allocation: Equity Portfolio*  Putnam Asset Allocation: Growth Portfolio 
Ravi Akhoury/2009(5)  1,627  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,717  86  3,961  638 
Charles B. Curtis/2001  1,717  63  3,961  461 
Robert J. Darretta/2007  1,717  N/A  3,788  N/A 
Myra R. Drucker/2004(3)  1,717  N/A  3,961  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,232  143  5,105  1,064 
Paul L. Joskow/1997(3)  1,717  56  3,961  422 
Elizabeth T. Kennan/1992(3)  1,717  120  3,961  876 
Kenneth R. Leibler/2006  1,717  N/A  3,961  N/A 
Robert E. Patterson/1984  1,717  78  3,961  590 
George Putnam, III/1984  1,717  67  3,961  519 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,355  0  1,769  534 
Richard B. Worley/2004  1,717  N/A  3,961  N/A 

C-2


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam California Tax Exempt Income Fund  Putnam Capital Opportunities Fund 
Ravi Akhoury/2009(5)  N/A  N/A  357  N/A 
Jameson A. Baxter/1994(3)  3,302  527  2,681  346 
Charles B. Curtis/2001  3,302  380  2,546  252 
Robert J. Darretta/2007  3,165  N/A  2,681  N/A 
Myra R. Drucker/2004(3)  3,302  N/A  2,681  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  4,262  878  3,097  576 
Paul L. Joskow/1997(3)  3,302  348  2,637  227 
Elizabeth T. Kennan/1992(3)  3,302  723  2,681  478 
Kenneth R. Leibler/2006  3,302  N/A  2,681  N/A 
Robert E. Patterson/1984  3,302  486  2,681  317 
George Putnam, III/1984  3,302  428  2,681  276 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,437  440  N/A  346 
Richard B. Worley/2004  3,302  N/A  2,681  N/A 
  Putnam Capital Spectrum Fund*  Putnam Convertible Income-Growth Trust 
Ravi Akhoury/2009(5)  1,582  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,671  17  2,756  342 
Charles B. Curtis/2001  1,671  12  2,709  247 
Robert J. Darretta/2007  1,671  N/A  2,668  N/A 
Myra R. Drucker/2004(3)  1,671  N/A  2,756  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,172  28  3,285  570 
Paul L. Joskow/1997(3)  1,671  11  2,756  226 
Elizabeth T. Kennan/1992(3)  1,671  24  2,756  470 
Kenneth R. Leibler/2006  1,671  N/A  2,756  N/A 
Robert E. Patterson/1984  1,671  15  2,756  315 
George Putnam, III/1984  1,671  13  2,756  277 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,318  0  914  286 
Richard B. Worley/2004  1,671  N/A  2,756  N/A 
  Putnam Diversified Income Trust  Putnam Emerging Markets Equity Fund* 
Ravi Akhoury/2009(5)  N/A  N/A  1,563  N/A 
Jameson A. Baxter/1994(3)  3,826  619  1,650  124 
Charles B. Curtis/2001  3,826  447  1,650  91 
Robert J. Darretta/2007  3,660  N/A  1,650  N/A 
Myra R. Drucker/2004(3)  3,825  N/A  1,650  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  4,950  1,031  2,145  207 
Paul L. Joskow/1997(3)  3,826  409  1,650  81 
Elizabeth T. Kennan/1992(3)  3,826  849  1,650  173 
Kenneth R. Leibler/2006  3,826  N/A  1,650  N/A 
Robert E. Patterson/1984  3,826  571  1,650  113 
George Putnam, III/1984  3,826  503  1,650  97 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,713  517  1,302  0 
Richard B. Worley/2004  3,826  N/A  1,650  N/A 

C-3


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam Equity Income Fund  Putnam Equity Spectrum Fund* 
Ravi Akhoury/2009(5)  N/A  N/A  1,547  N/A 
Jameson A. Baxter/1994(3)  6,545  823  1,634  6 
Charles B. Curtis/2001  6,437  596  1,634  5 
Robert J. Darretta/2007  6,329  N/A  1,634  N/A 
Myra R. Drucker/2004(3)  6,545  N/A  1,634  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  7,825  1,371  2,124  10 
Paul L. Joskow/1997(3)  6,545  543  1,634  4 
Elizabeth T. Kennan/1992(3)  6,545  1,132  1,634  9 
Kenneth R. Leibler/2006  6,545  N/A  1,634  N/A 
Robert E. Patterson/1984  6,545  758  1,634  6 
George Putnam, III/1984  6,545  664  1,634  5 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  2,213  689  1,289  0 
Richard B. Worley/2004  6,545  N/A  1,634  N/A 
  Putnam Europe Equity Fund  Putnam Floating Rate Income Fund 
Ravi Akhoury/2009(5)  677  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,217  291  2,233  286 
Charles B. Curtis/2001  2,100  213  2,117  208 
Robert J. Darretta/2007  2,217  N/A  2,233  N/A 
Myra R. Drucker/2004(3)  2,217  N/A  2,233  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,554  485  2,639  476 
Paul L. Joskow/1997(3)  2,177  191  2,194  188 
Elizabeth T. Kennan/1992(3)  2,217  404  2,233  395 
Kenneth R. Leibler/2006  2,217  N/A  2,233  N/A 
Robert E. Patterson/1984  2,217  267  2,233  263 
George Putnam, III/1984  2,217  231  2,233  229 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  N/A  325  185  265 
Richard B. Worley/2004  2,217  N/A  2,233  N/A 
  The Putnam Fund for Growth and Income  The George Putnam Fund of Boston 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  15,272  1,969  6,531  887 
Charles B. Curtis/2001  15,041  1,423  6,297  638 
Robert J. Darretta/2007  14,709  N/A  7,408  N/A 
Myra R. Drucker/2004(3)  15,272  N/A  6,531  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  18,450  3,281  8,116  1,477 
Paul L. Joskow/1997(3)  15,272  1,301  6,531  587 
Elizabeth T. Kennan/1992(3)  15,272  2,705  6,531  1,213 
Kenneth R. Leibler/2006  15,272  N/A  6,531  N/A 
Robert E. Patterson/1984  15,272  1,817  6,531  820 
George Putnam, III/1984  15,272  1,596  6,531  725 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  5,642  1,647  3,881  740 
Richard B. Worley/2004  15,272  N/A  6,531  N/A 

C-4


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam Global Consumer Fund*  Putnam Global Energy Fund* 
Ravi Akhoury/2009(5)  1,537  N/A  1,541  N/A 
Jameson A. Baxter/1994(3)  1,623  120  1,627  120 
Charles B. Curtis/2001  1,623  88  1,627  89 
Robert J. Darretta/2007  1,623  N/A  1,627  N/A 
Myra R. Drucker/2004(3)  1,623  N/A  1,627  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,110  200  2,115  201 
Paul L. Joskow/1997(3)  1,623  79  1,627  79 
Elizabeth T. Kennan/1992(3)  1,623  167  1,627  168 
Kenneth R. Leibler/2006  1,623  N/A  1,627  N/A 
Robert E. Patterson/1984  1,623  110  1,627  110 
George Putnam, III/1984  1,623  94  1,627  95 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,280  0  1,284  0 
Richard B. Worley/2004  1,623  N/A  1,627  N/A 
  Putnam Global Equity Fund  Putnam Global Financials Fund* 
Ravi Akhoury/2009(5)  N/A  N/A  1,544  N/A 
Jameson A. Baxter/1994(3)  4,180  531  1,630  121 
Charles B. Curtis/2001  4,113  384  1,630  89 
Robert J. Darretta/2007  4,035  N/A  1,630  N/A 
Myra R. Drucker/2004(3)  4,180  N/A  1,630  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  5,001  886  2,119  202 
Paul L. Joskow/1997(3)  4,180  351  1,630  79 
Elizabeth T. Kennan/1992(3)  4,180  730  1,630  169 
Kenneth R. Leibler/2006  4,180  N/A  1,630  N/A 
Robert E. Patterson/1984  4,180  490  1,630  111 
George Putnam, III/1984  4,180  430  1,630  95 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,475  445  1,286  0 
Richard B. Worley/2004  4,180  N/A  1,630  N/A 
  Putnam Global Health Care Fund  Putnam Global Income Trust 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  3,917  527  1,873  233 
Charles B. Curtis/2001  3,780  380  1,841  169 
Robert J. Darretta/2007  3,786  N/A  1,813  N/A 
Myra R. Drucker/2004(3)  3,917  N/A  1,873  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  4,866  878  2,233  389 
Paul L. Joskow/1997(3)  3,917  349  1,873  154 
Elizabeth T. Kennan/1992(3)  3,917  722  1,873  321 
Kenneth R. Leibler/2006  3,917  N/A  1,873  N/A 
Robert E. Patterson/1984  3,917  487  1,873  215 
George Putnam, III/1984  3,917  429  1,873  189 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  2,275  440  626  195 
Richard B. Worley/2004  3,917  N/A  1,873  N/A 

C-5


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam Global Industrials Fund*  Putnam Global Natural Resources Fund 
Ravi Akhoury/2009(5)  1,536  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,622  120  2,719  361 
Charles B. Curtis/2001  1,622  88  2,635  260 
Robert J. Darretta/2007  1,622  N/A  2,629  N/A 
Myra R. Drucker/2004(3)  1,622  N/A  2,719  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,109  200  3,350  601 
Paul L. Joskow/1997(3)  1,622  78  2,719  239 
Elizabeth T. Kennan/1992(3)  1,622  167  2,719  495 
Kenneth R. Leibler/2006  1,622  N/A  2,719  N/A 
Robert E. Patterson/1984  1,622  109  2,719  333 
George Putnam, III/1984  1,622  94  2,719  294 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,280  0  1,496  301 
Richard B. Worley/2004  1,622  N/A  2,719  N/A 
  Putnam Global Technology Fund*  Putnam Global Telecommunications Fund* 
Ravi Akhoury/2009(5)  1,540  N/A  1,535  N/A 
Jameson A. Baxter/1994(3)  1,626  120  1,621  120 
Charles B. Curtis/2001  1,626  89  1,621  88 
Robert J. Darretta/2007  1,626  N/A  1,621  N/A 
Myra R. Drucker/2004(3)  1,626  N/A  1,621  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,114  201  2,107  200 
Paul L. Joskow/1997(3)  1,626  79  1,621  78 
Elizabeth T. Kennan/1992(3)  1,626  168  1,621  167 
Kenneth R. Leibler/2006  1,626  N/A  1,621  N/A 
Robert E. Patterson/1984  1,626  110  1,621  109 
George Putnam, III/1984  1,626  95  1,621  94 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,283  0  1,279  0 
Richard B. Worley/2004  1,626  N/A  1,621  N/A 
  Putnam Global Utilities Fund  Putnam Growth Opportunities Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,522  316  2,296  307 
Charles B. Curtis/2001  2,480  228  2,218  221 
Robert J. Darretta/2007  2,438  N/A  2,584  N/A 
Myra R. Drucker/2004(3)  2,522  N/A  2,296  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  3,010  526  2,845  511 
Paul L. Joskow/1997(3)  2,522  209  2,296  203 
Elizabeth T. Kennan/1992(3)  2,522  434  2,296  420 
Kenneth R. Leibler/2006  2,522  N/A  2,296  N/A 
Robert E. Patterson/1984  2,522  291  2,296  284 
George Putnam, III/1984  2,522  256  2,296  251 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  858  264  1,323  256 
Richard B. Worley/2004  2,522  N/A  2,296  N/A 

C-6


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam High Yield Advantage Fund  Putnam High Yield Trust 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,676  336  4,219  564 
Charles B. Curtis/2001  2,630  243  4,078  407 
Robert J. Darretta/2007  2,591  N/A  4,079  N/A 
Myra R. Drucker/2004(3)  2,676  N/A  4,219  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  3,194  559  5,232  940 
Paul L. Joskow/1997(3)  2,676  222  4,219  373 
Elizabeth T. Kennan/1992(3)  2,676  462  4,219  773 
Kenneth R. Leibler/2006  2,676  N/A  4,219  N/A 
Robert E. Patterson/1984  2,676  309  4,219  522 
George Putnam, III/1984  2,676  271  4,219  460 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  877  281  2,399  471 
Richard B. Worley/2004  2,676  N/A  4,219  N/A 
  Putnam Income Fund  Putnam Income Strategies Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  4,772  595  1,756  224 
Charles B. Curtis/2001  4,694  430  1,662  163 
Robert J. Darretta/2007  4,618  N/A  1,756  N/A 
Myra R. Drucker/2004(3)  4,772  N/A  1,756  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  5,705  992  2,070  373 
Paul L. Joskow/1997(3)  4,772  393  1,724  147 
Elizabeth T. Kennan/1992(3)  4,772  818  1,756  309 
Kenneth R. Leibler/2006  4,772  N/A  1,756  N/A 
Robert E. Patterson/1984  4,772  549  1,756  206 
George Putnam, III/1984  4,772  482  1,756  179 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,593  498  147  209 
Richard B. Worley/2004  4,772  N/A  1,756  N/A 
  Putnam International Capital Opportunities Fund  Putnam International Equity Fund 
Ravi Akhoury/2009(5)  N/A  N/A  2,140  N/A 
Jameson A. Baxter/1994(3)  4,388  585  8,245  1,070 
Charles B. Curtis/2001  4,244  422  7,833  782 
Robert J. Darretta/2007  4,240  N/A  8,245  N/A 
Myra R. Drucker/2004(3)  4,388  N/A  8,245  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  5,418  975  9,502  1,783 
Paul L. Joskow/1997(3)  4,388  387  8,112  703 
Elizabeth T. Kennan/1992(3)  4,388  802  8,245  1,483 
Kenneth R. Leibler/2006  4,388  N/A  8,245  N/A 
Robert E. Patterson/1984  4,388  541  8,245  981 
George Putnam, III/1984  4,388  476  8,245  851 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  2,493  489  N/A  1,112 
Richard B. Worley/2004  4,388  N/A  8,245  N/A 

C-7


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam International Growth and Income Fund  Putnam International New Opportunities Fund 
Ravi Akhoury/2009(5)  822  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,875  374  2,110  343 
Charles B. Curtis/2001  2,724  274  2,110  248 
Robert J. Darretta/2007  2,875  N/A  2,018  N/A 
Myra R. Drucker/2004(3)  2,875  N/A  2,110  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  3,311  624  2,730  572 
Paul L. Joskow/1997(3)  2,824  246  2,110  227 
Elizabeth T. Kennan/1992(3)  2,875  519  2,110  471 
Kenneth R. Leibler/2006  2,875  N/A  2,110  N/A 
Robert E. Patterson/1984  2,875  343  2,110  317 
George Putnam, III/1984  2,875  297  2,110  279 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  N/A  409  950  287 
Richard B. Worley/2004  2,875  N/A  2,110  N/A 
  Putnam Investors Fund  Putnam Massachusetts Tax Exempt Income Fund 
Ravi Akhoury/2009(5)  N/A  N/A  771  N/A 
Jameson A. Baxter/1994(3)  5,830  798  2,270  296 
Charles B. Curtis/2001  5,618  574  2,150  217 
Robert J. Darretta/2007  6,659  N/A  2,270  N/A 
Myra R. Drucker/2004(3)  5,830  N/A  2,270  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  7,264  1,330  2,618  494 
Paul L. Joskow/1997(3)  5,830  529  2,228  195 
Elizabeth T. Kennan/1992(3)  5,830  1,092  2,270  411 
Kenneth R. Leibler/2006  5,830  N/A  2,270  N/A 
Robert E. Patterson/1984  5,830  739  2,270  272 
George Putnam, III/1984  5,830  653  2,270  235 
Robert L. Reynolds/2008(6)  0  0  0  N/A 
W. Thomas Stephens/1997(7)  3,518  666  N/A  321 
Richard B. Worley/2004  5,830  N/A  2,270  N/A 
  Putnam Michigan Tax Exempt Income Fund  Putnam Mid Cap Value Fund 
Ravi Akhoury/2009(5)  599  N/A  462  N/A 
Jameson A. Baxter/1994(3)  1,865  243  2,984  386 
Charles B. Curtis/2001  1,766  178  2,824  282 
Robert J. Darretta/2007  1,865  N/A  2,984  N/A 
Myra R. Drucker/2004(3)  1,865  N/A  2,984  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,148  406  3,435  643 
Paul L. Joskow/1997(3)  1,831  160  2,929  254 
Elizabeth T. Kennan/1992(3)  1,865  338  2,984  534 
Kenneth R. Leibler/2006  1,865  N/A  2,984  N/A 
Robert E. Patterson/1984  1,865  223  2,984  354 
George Putnam, III/1984  1,865  194  2,984  308 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  N/A  265  N/A  392 
Richard B. Worley/2004  1,865  N/A  2,984  N/A 

C-8


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam Minnesota Tax Exempt Income Fund  Putnam Money Market Fund 
Ravi Akhoury/2009(5)  601  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,865  243  5,137  816 
Charles B. Curtis/2001  1,766  178  5,137  589 
Robert J. Darretta/2007  1,865  N/A  4,932  N/A 
Myra R. Drucker/2004(3)  1,865  N/A  5,137  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,148  406  6,583  1,360 
Paul L. Joskow/1997(3)  1,831  160  5,137  540 
Elizabeth T. Kennan/1992(3)  1,865  337  5,137  1,120 
Kenneth R. Leibler/2006  1,865  N/A  5,137  N/A 
Robert E. Patterson/1984  1,865  223  5,137  754 
George Putnam, III/1984  1,865  194  5,137  663 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  N/A  265  2,183  682 
Richard B. Worley/2004  1,865  N/A  5,137  N/A 
  Putnam Money Market Liquidity Fund*  Putnam New Jersey Tax Exempt Income Fund 
Ravi Akhoury/2009(5)  7,792  N/A  711  N/A 
Jameson A. Baxter/1994(3)  8,227  1,853  2,116  276 
Charles B. Curtis/2001  8,227  1,365  2,004  202 
Robert J. Darretta/2007  8,227  N/A  2,116  N/A 
Myra R. Drucker/2004(3)  8,227  N/A  2,116  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  10,695  3,090  2,439  460 
Paul L. Joskow/1997(3)  8,227  1,213  2,076  181 
Elizabeth T. Kennan/1992(3)  8,227  2,588  2,116  382 
Kenneth R. Leibler/2006  8,227  N/A  2,116  N/A 
Robert E. Patterson/1984  8,227  1,693  2,116  253 
George Putnam, III/1984  8,227  1,454  2,116  219 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  6,490  0  N/A  300 
Richard B. Worley/2004  8,227  N/A  2,116  N/A 
  Putnam New Opportunities Fund  Putnam New York Tax Exempt Income Fund 
Ravi Akhoury/2009(5)  2,570  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  7,425  994  3,343  418 
Charles B. Curtis/2001  7,037  728  3,285  303 
Robert J. Darretta/2007  7,425  N/A  3,239  N/A 
Myra R. Drucker/2004(3)  7,425  N/A  3,343  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  8,579  1,657  4,035  697 
Paul L. Joskow/1997(3)  7,286  652  3,343  276 
Elizabeth T. Kennan/1992(3)  7,425  1,380  3,343  575 
Kenneth R. Leibler/2006  7,425  N/A  3,343  N/A 
Robert E. Patterson/1984  7,425  911  3,343  385 
George Putnam, III/1984  7,425  788  3,343  337 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  N/A  1,080  1,082  350 
Richard B. Worley/2004  7,425  N/A  3,343  N/A 

C-9


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam Ohio Tax Exempt Income Fund  Putnam Pennsylvania Tax Exempt Income Fund 
Ravi Akhoury/2009(5)  661  N/A  670  N/A 
Jameson A. Baxter/1994(3)  2,003  261  2,022  264 
Charles B. Curtis/2001  1,897  191  1,915  193 
Robert J. Darretta/2007  2,003  N/A  2,022  N/A 
Myra R. Drucker/2004(3)  2,003  N/A  2,022  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,308  436  2,330  439 
Paul L. Joskow/1997(3)  1,966  172  1,985  173 
Elizabeth T. Kennan/1992(3)  2,003  362  2,022  366 
Kenneth R. Leibler/2006  2,003  N/A  2,022  N/A 
Robert E. Patterson/1984  2,003  240  2,022  242 
George Putnam, III/1984  2,003  208  2,022  210 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  N/A  284  N/A  287 
Richard B. Worley/2004  2,003  N/A  2,022  N/A 
  Putnam Research Fund  Putnam RetirementReady 2010 Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,353  319  0  0 
Charles B. Curtis/2001  2,270  230  0  0 
Robert J. Darretta/2007  2,669  N/A  0  0 
Myra R. Drucker/2004(3)  2,353  N/A  0  0 
Charles E. Haldeman, Jr./2004(8)  0  0  0  0 
John A. Hill/1985(3)(4)  2,925  532  0  0 
Paul L. Joskow/1997(3)  2,353  212  0  0 
Elizabeth T. Kennan/1992(3)  2,353  437  0  0 
Kenneth R. Leibler/2006  2,353  N/A  0  0 
Robert E. Patterson/1984  2,353  296  0  0 
George Putnam, III/1984  2,353  261  0  0 
Robert L. Reynolds/2008(6)  0  N/A  0  0 
W. Thomas Stephens/1997(7)  1,389  267  0  0 
Richard B. Worley/2004  2,353  N/A  0  0 
  Putnam RetirementReady 2015 Fund  Putnam Retirement Ready 2020 Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  0  0  0  0 
Charles B. Curtis/2001  0  0  0  0 
Robert J. Darretta/2007  0  0  0  0 
Myra R. Drucker/2004(3)  0  0  0  0 
Charles E. Haldeman, Jr./2004(8)  0  0  0  0 
John A. Hill/1985(3)(4)  0  0  0  0 
Paul L. Joskow/1997(3)  0  0  0  0 
Elizabeth T. Kennan/1992(3)  0  0  0  0 
Kenneth R. Leibler/2006  0  0  0  0 
Robert E. Patterson/1984  0  0  0  0 
George Putnam, III/1984  0  0  0  0 
Robert L. Reynolds/2008(6)  0  0  0  0 
W. Thomas Stephens/1997(7)  0  0  0  0 
Richard B. Worley/2004  0  0  0  0 

C-10


    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam RetirementReady 2025 Fund  Putnam RetirementReady 2030 Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  0  0  0  0 
Charles B. Curtis/2001  0  0  0  0 
Robert J. Darretta/2007  0  0  0  0 
Myra R. Drucker/2004(3)  0  0  0  0 
Charles E. Haldeman, Jr./2004(8)  0  0  0  0 
John A. Hill/1985(3)(4)  0  0  0  0 
Paul L. Joskow/1997(3)  0  0  0  0 
Elizabeth T. Kennan/1992(3)  0  0  0  0 
Kenneth R. Leibler/2006  0  0  0  0 
Robert E. Patterson/1984  0  0  0  0 
George Putnam, III/1984  0  0  0  0 
Robert L. Reynolds/2008(6)  0  0  0  0 
W. Thomas Stephens/1997(7)  0  0  0  0 
Richard B. Worley/2004  0  0  0  0 
  Putnam RetirementReady 2035 Fund  Putnam RetirementReady 2040 Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  0  0  0  0 
Charles B. Curtis/2001  0  0  0  0 
Robert J. Darretta/2007  0  0  0  0 
Myra R. Drucker/2004(3)  0  0  0  0 
Charles E. Haldeman, Jr./2004(8)  0  0  0  0 
John A. Hill/1985(3)(4)  0  0  0  0 
Paul L. Joskow/1997(3)  0  0  0  0 
Elizabeth T. Kennan/1992(3)  0  0  0  0 
Kenneth R. Leibler/2006  0  0  0  0 
Robert E. Patterson/1984  0  0  0  0 
George Putnam, III/1984  0  0  0  0 
Robert L. Reynolds/2008(6)  0  0  0  0 
W. Thomas Stephens/1997(7)  0  0  0  0 
Richard B. Worley/2004  0  0  0  0 
  Putnam RetirementReady 2045 Fund  Putnam RetirementReady 2050 Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  0  0  0  0 
Charles B. Curtis/2001  0  0  0  0 
Robert J. Darretta/2007  0  0  0  0 
Myra R. Drucker/2004(3)  0  0  0  0 
Charles E. Haldeman, Jr./2004(8)  0  0  0  0 
John A. Hill/1985(3)(4)  0  0  0  0 
Paul L. Joskow/1997(3)  0  0  0  0 
Elizabeth T. Kennan/1992(3)  0  0  0  0 
Kenneth R. Leibler/2006  0  0  0  0 
Robert E. Patterson/1984  0  0  0  0 
George Putnam, III/1984  0  0  0  0 
Robert L. Reynolds/2008(6)  0  0  0  0 
W. Thomas Stephens/1997(7)  0  0  0  0 
Richard B. Worley/2004  0  0  0  0 

C-11

    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam RetirementReady Maturity Fund  Putnam Small Cap Growth Fund 
Ravi Akhoury/2009(5)  N/A  N/A  635  N/A 
Jameson A. Baxter/1994(3)  0  0  2,118  277 
Charles B. Curtis/2001  0  0  2,006  203 
Robert J. Darretta/2007  0  0  2,118  N/A 
Myra R. Drucker/2004(3)  0  0  2,118  N/A 
Charles E. Haldeman, Jr./2004(8)  0  0  0  N/A 
John A. Hill/1985(3)(4)  0  0  2,437  462 
Paul L. Joskow/1997(3)  0  0  2,080  182 
Elizabeth T. Kennan/1992(3)  0  0  2,118  385 
Kenneth R. Leibler/2006  0  0  2,118  N/A 
Robert E. Patterson/1984  0  0  2,118  254 
George Putnam, III/1984  0  0  2,118  220 
Robert L. Reynolds/2008(6)  0  0  0  N/A 
W. Thomas Stephens/1997(7)  0  0  N/A  309 
Richard B. Worley/2004  0  0  2,118  N/A 
  Putnam Small Cap Value Fund  Putnam Tax Exempt Income Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,223  285  2,661  424 
Charles B. Curtis/2001  2,107  208  2,661  306 
Robert J. Darretta/2007  2,223  N/A  2,549  N/A 
Myra R. Drucker/2004(3)  2,223  N/A  2,661  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,637  476  3,588  706 
Paul L. Joskow/1997(3)  2,183  188  2,661  280 
Elizabeth T. Kennan/1992(3)  2,223  394  2,661  581 
Kenneth R. Leibler/2006  2,223  N/A  2,661  N/A 
Robert E. Patterson/1984  2,223  262  2,661  391 
George Putnam, III/1984  2,223  229  2,661  344 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  189  265  1,164  354 
Richard B. Worley/2004  2,223  N/A  2,661  N/A 
  Putnam Tax Exempt Money Market Fund  Putnam Tax-Free High Yield Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,344  218  3,311  439 
Charles B. Curtis/2001  1,344  158  3,201  316 
Robert J. Darretta/2007  1,287  N/A  3,718  N/A 
Myra R. Drucker/2004(3)  1,344  N/A  3,311  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  1,738  364  4,098  732 
Paul L. Joskow/1997(3)  1,344  144  3,311  291 
Elizabeth T. Kennan/1992(3)  1,344  300  3,311  601 
Kenneth R. Leibler/2006  1,344  N/A  3,311  N/A 
Robert E. Patterson/1984  1,344  202  3,311  406 
George Putnam, III/1984  1,344  177  3,311  359 
Robert L. Reynolds/2008(6)  0  N/A  0  0 
W. Thomas Stephens/1997(7)  596  183  1,874  367 
Richard B. Worley/2004  1,344  N/A  3,311  N/A 

C-12

    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam U.S. Government Income Trust  Putnam Vista Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,708  443  3,939  532 
Charles B. Curtis/2001  2,708  320  3,799  383 
Robert J. Darretta/2007  2,595  N/A  4,475  N/A 
Myra R. Drucker/2004(3)  2,708  N/A  3,939  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  3,528  739  4,902  887 
Paul L. Joskow/1997(3)  2,708  293  3,939  353 
Elizabeth T. Kennan/1992(3)  2,708  608  3,939  729 
Kenneth R. Leibler/2006  2,708  N/A  3,939  N/A 
Robert E. Patterson/1984  2,708  409  3,939  493 
George Putnam, III/1984  2,708  360  3,939  435 
Robert L. Reynolds/2008(6)  0  N/A  0  0 
W. Thomas Stephens/1997(7)  1,185  370  2,330  444 
Richard B. Worley/2004  2,708  N/A  3,939  N/A 
  Putnam Voyager Fund  Putnam VT American Government Income Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  9,379  1,276  1,878  240 
Charles B. Curtis/2001  9,034  918  1,846  174 
Robert J. Darretta/2007  10,734  N/A  1,818  N/A 
Myra R. Drucker/2004(3)  9,379  N/A  1,878  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  11,692  2,127  2,240  401 
Paul L. Joskow/1997(3)  9,379  846  1,878  159 
Elizabeth T. Kennan/1992(3)  9,379  1,746  1,878  331 
Kenneth R. Leibler/2006  9,379  N/A  1,878  N/A 
Robert E. Patterson/1984  9,379  1,181  1,878  221 
George Putnam, III/1984  9,379  1,044  1,878  193 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  5,610  1,065  629  201 
Richard B. Worley/2004  9,379  N/A  1,878  N/A 
  Putnam VT Capital Opportunities Fund  Putnam VT Diversified Income Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,695  216  2,302  294 
Charles B. Curtis/2001  1,666  157  2,263  214 
Robert J. Darretta/2007  1,639  N/A  2,227  N/A 
Myra R. Drucker/2004(3)  1,695  N/A  2,302  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,023  360  2,748  491 
Paul L. Joskow/1997(3)  1,695  143  2,302  194 
Elizabeth T. Kennan/1992(3)  1,695  298  2,302  406 
Kenneth R. Leibler/2006  1,695  N/A  2,302  N/A 
Robert E. Patterson/1984  1,695  199  2,302  271 
George Putnam, III/1984  1,695  174  2,302  237 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  578  181  776  247 
Richard B. Worley/2004  1,695  N/A  2,302  N/A 

C-13

    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam VT Equity Income Fund  Putnam VT The George Putnam Fund of Boston 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,965  251  2,258  288 
Charles B. Curtis/2001  1,932  182  2,221  209 
Robert J. Darretta/2007  1,900  N/A  2,182  N/A 
Myra R. Drucker/2004(3)  1,965  N/A  2,258  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,345  418  2,701  481 
Paul L. Joskow/1997(3)  1,965  166  2,258  190 
Elizabeth T. Kennan/1992(3)  1,965  346  2,258  398 
Kenneth R. Leibler/2006  1,965  N/A  2,258  N/A 
Robert E. Patterson/1984  1,965  231  2,258  266 
George Putnam, III/1984  1,965  202  2,258  232 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  670  210  783  242 
Richard B. Worley/2004  1,965  N/A  2,258  N/A 
  Putnam VT Global Asset Allocation Fund  Putnam VT Global Equity Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,123  271  2,304  294 
Charles B. Curtis/2001  2,087  197  2,266  213 
Robert J. Darretta/2007  2,053  N/A  2,226  N/A 
Myra R. Drucker/2004(3)  2,123  N/A  2,304  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,535  452  2,754  489 
Paul L. Joskow/1997(3)  2,123  179  2,304  194 
Elizabeth T. Kennan/1992(3)  2,123  374  2,304  405 
Kenneth R. Leibler/2006  2,123  N/A  2,304  N/A 
Robert E. Patterson/1984  2,123  250  2,304  270 
George Putnam, III/1984  2,123  218  2,304  236 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  724  227  801  246 
Richard B. Worley/2004  2,123  N/A  2,304  N/A 
  Putnam VT Global Health Care Fund  Putnam VT Global Utilities Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,193  244  2,133  272 
Charles B. Curtis/2001  1,880  177  2,097  198 
Robert J. Darretta/2007  1,850  N/A  2,062  N/A 
Myra R. Drucker/2004(3)  1,193  N/A  2,133  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,284  407  2,547  454 
Paul L. Joskow/1997(3)  1,193  161  2,133  179 
Elizabeth T. Kennan/1992(3)  1,193  336  2,133  375 
Kenneth R. Leibler/2006  1,193  N/A  2,133  N/A 
Robert E. Patterson/1984  1,193  225  2,133  251 
George Putnam, III/1984  1,193  197  2,133  219 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  651  205  731  228 
Richard B. Worley/2004  1,193  N/A  2,133  N/A 

C-14

    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam VT Growth and Income Fund  Putnam VT Growth Opportunities Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  5,224  666  1,700  217 
Charles B. Curtis/2001  5,142  484  1,671  157 
Robert J. Darretta/2007  5,038  N/A  1,644  N/A 
Myra R. Drucker/2004(3)  5,224  N/A  1,700  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  6,293  1,111  2,029  361 
Paul L. Joskow/1997(3)  5,224  439  1,700  143 
Elizabeth T. Kennan/1992(3)  5,224  918  1,700  299 
Kenneth R. Leibler/2006  5,224  N/A  1,700  N/A 
Robert E. Patterson/1984  5,224  614  1,700  200 
George Putnam, III/1984  5,224  536  1,700  175 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,885  558  580  182 
Richard B. Worley/2004  5,224  N/A  1,700  N/A 
  Putnam VT High Yield Fund  Putnam VT Income Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,342  299  2,547  326 
Charles B. Curtis/2001  2,302  217  2,505  237 
Robert J. Darretta/2007  2,265  N/A  2,464  N/A 
Myra R. Drucker/2004(3)  2,342  N/A  2,547  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,797  499  3,044  544 
Paul L. Joskow/1997(3)  2,342  197  2,547  215 
Elizabeth T. Kennan/1992(3)  2,342  413  2,547  450 
Kenneth R. Leibler/2006  2,342  N/A  2,547  N/A 
Robert E. Patterson/1984  2,342  276  2,547  301 
George Putnam, III/1984  2,342  241  2,547  263 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  793  251  865  273 
Richard B. Worley/2004  2,342  N/A  2,547  N/A 
  Putnam VT International Equity Fund  Putnam VT International Growth and Income Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  3,138  400  2,161  276 
Charles B. Curtis/2001  3,088  291  2,125  200 
Robert J. Darretta/2007  3,031  N/A  2,088  N/A 
Myra R. Drucker/2004(3)  3,138  N/A  2,161  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  3,755  667  2,582  460 
Paul L. Joskow/1997(3)  3,138  264  2,161  182 
Elizabeth T. Kennan/1992(3)  3,138  552  2,161  380 
Kenneth R. Leibler/2006  3,138  N/A  2,161  N/A 
Robert E. Patterson/1984  3,138  369  2,161  254 
George Putnam, III/1984  3,138  322  2,161  222 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,098  335  749  231 
Richard B. Worley/2004  3,138  N/A  2,161  N/A 

C-15

    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam VT International New Opportunities Fund  Putnam VT Investors Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,985  253  2,194  280 
Charles B. Curtis/2001  1,952  184  2,157  203 
Robert J. Darretta/2007  1,918  N/A  2,121  N/A 
Myra R. Drucker/2004(3)  1,985  N/A  2,194  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,371  422  2,620  467 
Paul L. Joskow/1997(3)  1,985  167  2,194  185 
Elizabeth T. Kennan/1992(3)  1,985  349  2,194  386 
Kenneth R. Leibler/2006  1,985  N/A  2,194  N/A 
Robert E. Patterson/1984  1,985  233  2,194  258 
George Putnam, III/1984  1,985  204  2,194  225 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  688  212  747  235 
Richard B. Worley/2004  1,985  N/A  2,194  N/A 
  Putnam VT Mid Cap Value Fund  Putnam VT Money Market Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  1,741  222  2,341  301 
Charles B. Curtis/2001  1,683  161  2,302  219 
Robert J. Darretta/2007  1,711  N/A  2,268  N/A 
Myra R. Drucker/2004(3)  1,683  N/A  2,341  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,078  370  2,790  502 
Paul L. Joskow/1997(3)  1,741  146  2,341  199 
Elizabeth T. Kennan/1992(3)  1,741  306  2,341  415 
Kenneth R. Leibler/2006  1,741  N/A  2,341  N/A 
Robert E. Patterson/1984  1,741  204  2,341  277 
George Putnam, III/1984  1,741  179  2,341  243 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  596  186  766  252 
Richard B. Worley/2004  1,741  N/A  2,341  N/A 
  Putnam VT New Opportunities Fund  Putnam VT Research Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,942  375  1,813  231 
Charles B. Curtis/2001  2,893  272  1,782  168 
Robert J. Darretta/2007  2,842  N/A  1,752  N/A 
Myra R. Drucker/2004(3)  2,942  N/A  1,813  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  3,522  624  2,165  385 
Paul L. Joskow/1997(3)  2,942  247  1,813  153 
Elizabeth T. Kennan/1992(3)  2,942  516  1,813  319 
Kenneth R. Leibler/2006  2,942  N/A  1,813  N/A 
Robert E. Patterson/1984  2,942  345  1,813  213 
George Putnam, III/1984  2,942  301  1,813  186 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  1,022  314  622  194 
Richard B. Worley/2004  2,942  N/A  1,813  N/A 

C-16

    Pension or retirement    Pension or retirement 
  Aggregate compensation  benefits accrued as part  Aggregate compensation  benefits accrued as part 
Trustees/Year  from the fund ($)  of fund expenses ($)  from the fund ($)  of fund expenses ($) 
  Putnam VT Small Cap Value Fund  Putnam VT Vista Fund 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  2,243  286  2,047  261 
Charles B. Curtis/2001  2,206  208  2,013  189 
Robert J. Darretta/2007  2,168  N/A  1,979  N/A 
Myra R. Drucker/2004(3)  2,243  N/A  2,047  N/A 
Charles E. Haldeman, Jr./2004(8)  0  N/A  0  N/A 
John A. Hill/1985(3)(4)  2,699  477  2,447  435 
Paul L. Joskow/1997(3)  2,243  189  2,047  172 
Elizabeth T. Kennan/1992(3)  2,243  395  2,047  360 
Kenneth R. Leibler/2006  2,243  N/A  2,047  N/A 
Robert E. Patterson/1984  2,243  264  2,047  240 
George Putnam, III/1984  2,243  231  2,047  210 
Robert L. Reynolds/2008(6)  0  N/A  0  N/A 
W. Thomas Stephens/1997(7)  772  240  706  219 
Richard B. Worley/2004  2,243  N/A  2,047  N/A 
    Pension or retirement  Estimated annual benefits   
  Aggregate compensation  benefits accrued as part  from all Putnam funds upon  Total compensation from all 
Trustees/Year  from the fund ($)  of fund expenses ($)  retirement ($) (1)  Putnam funds ($) (2) 
  Putnam VT Voyager Fund  For All Funds 
Ravi Akhoury/2009(5)  N/A  N/A  N/A  N/A 
Jameson A. Baxter/1994(3)  3,476  442  110,500  295,000 
Charles B. Curtis/2001  3,419  321  113,900  280,000 
Robert J. Darretta/2007  3,356  N/A  N/A  295,000 
Myra R. Drucker/2004(3)  3,476  N/A  N/A  295,500 
Charles E. Haldeman, Jr./2004(8)  0  N/A  N/A  0 
John A. Hill/1985(3)(4)  4,164  737  161,700  393,439 
Paul L. Joskow/1997(3)  3,476  292  113,400  290,000 
Elizabeth T. Kennan/1992(3)  3,476  609  108,000  295,000 
Kenneth R. Leibler/2006  3,476  N/A  N/A  295,000 
Robert E. Patterson/1984  3,476  407  106,500  295,000 
George Putnam, III/1984  3,476  356  130,300  295,000 
Robert L. Reynolds/2008(6)  0  N/A  N/A  0 
W. Thomas Stephens/1997(7)  1,217  370  107,100  72,500 
Richard B. Worley/2004  3,476  N/A  N/A  295,000 

* Since these funds have not yet completed their first full fiscal year of operation, these amounts represent estimated annual fees based on the fees paid for a partial fiscal year.

(1) Estimated benefits for each Trustee are based on Trustee fee rates for calendar years 2003, 2004 and 2005.

(2) As of December 31, 2008 there were 103 funds in the Putnam family. For Mr. Hill, amounts shown also include compensation for service through June 25, 2008 as Chairman of TH Lee, Putnam Emerging Opportunities Portfolio, a closed-end fund advised by an affiliate of Putnam Management.

(3) Certain Trustees are also owed compensation deferred pursuant to a Trustee Compensation Deferral Plan. As of each fund’s fiscal year end (ended between July 31, 2008 and June 30, 2009), the total amounts of deferred compensation payable by each fund listed below, including income earned on such amounts, to these Trustees were (in dollars):

Fund  Ms. Baxter  Ms. Drucker  Mr. Hill  Dr. Joskow  Dr. Kennan 
Putnam Absolute Return 100 Fund  0  0  0  0  0 
Putnam Absolute Return 300 Fund  0  0  0  0  0 
Putnam Absolute Return 500 Fund  0  0  0  0  0 
Putnam Absolute Return 700 Fund  0  0  0  0  0 
Putnam American Government Income Fund  9,059  1,842  37,639  8,849  1,362 
Putnam AMT-Free Municipal Fund  4,810  979  19,979  4,691  724 
Putnam Arizona Tax Exempt Income Fund  1,832  441  6,432  1,661  254 
Putnam Asia Pacific Equity Fund  0  0  0  0  0 
Putnam Asset Allocation: Balanced Portfolio  9,325  1,896  38,748  9,110  1,402 

C-17

 
Fund  Ms. Baxter  Ms. Drucker  Mr. Hill  Dr. Joskow  Dr. Kennan 
Putnam Asset Allocation: Conservative Portfolio  3,661  744  15,210  3,576  551 
Putnam Asset Allocation: Equity Portfolio  0  0  0  0  0 
Putnam Asset Allocation: Growth Portfolio  8,342  1,696  34,660  8,149  1,254 
Putnam California Tax Exempt Income Fund  14,371  2,921  59,712  14,038  2,161 
Putnam Capital Opportunities Fund  3,624  873  12,704  3,286  502 
Putnam Capital Spectrum Fund  0  0  0  0  0 
Putnam Convertible Income-Growth Trust  7,215  1,486  28,211  6,636  1,022 
Putnam Diversified Income Trust  20,695  4,207  85,991  20,216  3,112 
Putnam Emerging Markets Equity Fund  0  0  0  0  0 
Putnam Equity Income Fund  9,722  1,999  38,005  8,937  1,377 
Putnam Equity Spectrum Fund  0  0  0  0  0 
Putnam Europe Equity Fund  8,161  1,965  28,682  7,408  1,129 
Putnam Floating Rate Income Fund  1,010  228  3,782  915  140 
The Putnam Fund for Growth and Income  75,214  15,488  294,080  69,170  10,649 
The George Putnam Fund of Boston  28,332  5,767  117,694  27,632  4,264 
Putnam Global Consumer Fund  0  0  0  0  0 
Putnam Global Energy Fund  0  0  0  0  0 
Putnam Global Equity Fund  22,291  4,590  87,157  20,500  3,156 
Putnam Global Financials Fund  0  0  0  0  0 
Putnam Global Health Care Fund  21,774  4,428  90,428  21,230  3,278 
Putnam Global Income Trust  3,901  803  15,252  3,587  552 
Putnam Global Industrials Fund  0  0  0  0  0 
Putnam Global Natural Resources Fund  2,764  562  11,478  2,695  416 
Putnam Global Technology Fund  0  0  0  0  0 
Putnam Global Telecommunications Fund  0  0  0  0  0 
Putnam Global Utilities Fund  7,413  1,527  28,986  6,818  1,050 
Putnam Growth Opportunities Fund  11,361  2,313  47,193  11,080  1,710 
Putnam High Yield Advantage Fund  9,103  1,872  35,586  8,368  1,289 
Putnam High Yield Trust  22,708  4,618  94,306  22,141  3,419 
Putnam Income Fund  12,422  2,558  48,570  11,424  1,759 
Putnam Income Strategies Fund  733  166  2,746  664  102 
Putnam International Capital Opportunities Fund  5,788  1,177  24,038  5,644  871 
Putnam International Equity Fund  26,370  6,350  92,679  23,936  3,649 
Putnam International Growth and Income Fund  5,129  1,235  18,024  4,655  710 
Putnam International New Opportunities Fund  10,694  2,174  44,434  10,446  1,608 
Putnam Investors Fund  25,812  5,254  107,224  25,174  3,885 
Putnam Massachusetts Tax Exempt Fund  2,101  506  7,377  1,905  291 
Putnam Michigan Tax Exempt Income Fund  1,836  442  6,447  1,665  254 
Putnam Mid Cap Value Fund  2,892  697  10,140  2,622  400 
Putnam Minnesota Tax Exempt Income Fund  1,825  439  6,406  1,654  253 
Putnam Money Market Fund  14,941  3,037  62,080  14,595  2,247 
Putnam Money Market Liquidity Fund  0  0  0  0  0 
Putnam New Jersey Tax Exempt Income Fund  1,948  469  6,841  1,767  270 
Putnam New Opportunities Fund  68,300  16,446  240,044  61,994  9,451 
Putnam New York Tax Exempt Income Fund  8,665  1,782  33,874  7,966  1,227 
Putnam Ohio Tax Exempt Income Fund  1,886  454  6,622  1,710  261 
Putnam Pennsylvania Tax Exempt Income Fund  1,905  459  6,689  1,727  264 
Putnam Research Fund  5,066  1,031  21,046  4,941  763 
Putnam RetirementReady 2010 Fund  0  0  0  0  0 
Putnam RetirementReady 2015 Fund  0  0  0  0  0 
Putnam RetirementReady 2020 Fund  0  0  0  0  0 
Putnam RetirementReady 2025 Fund  0  0  0  0  0 
Putnam RetirementReady 2030 Fund  0  0  0  0  0 
Putnam RetirementReady 2035 Fund  0  0  0  0  0 
Putnam RetirementReady 2040 Fund  0  0  0  0  0 

C-18

Fund  Ms. Baxter  Ms. Drucker  Mr. Hill  Dr. Joskow  Dr. Kennan 
Putnam RetirementReady 2045 Fund  0  0  0  0  0 
Putnam RetirementReady 2050 Fund  0  0  0  0  0 
Putnam RetirementReady Maturity Fund  0  0  0  0  0 
Putnam Small Cap Growth Fund  1,852  446  6,510  1,681  256 
Putnam Small Cap Value Fund  2,580  583  9,658  2,336  357 
Putnam Tax Exempt Income Fund  13,374  2,719  55,571  13,065  2,011 
Putnam Tax Exempt Money Market Fund  1,722  350  7,155  1,682  259 
Putnam Tax-Free High Yield Fund  17,356  3,533  72,097  16,927  2,612 
Putnam U.S. Government Income Trust  17,626  3,583  73,237  17,218  2,651 
Putnam Vista Fund  27,105  5,517  112,596  26,435  4,079 
Putnam Voyager Fund  77,387  15,753  321,473  75,474  11,647 
Putnam VT American Government Income Fund  1,782  383  6,852  1,656  253 
Putnam VT Capital Opportunities Fund  882  191  3,415  825  126 
Putnam VT Diversified Income Fund  2,393  515  9,204  2,225  340 
Putnam VT Equity Income Fund  1,210  260  4,654  1,125  172 
Putnam VT The George Putnam Fund of Boston  2,463  530  9,472  2,290  350 
Putnam VT Global Asset Allocation Fund  4,192  901  16,122  3,897  596 
Putnam VT Global Equity Fund  7,823  1,682  30,087  7,273  1,112 
Putnam VT Global Health Care Fund  1,821  392  7,003  1,693  259 
Putnam VT Global Utilities Fund  4,715  1,014  18,133  4,383  670 
Putnam VT Growth and Income Fund  21,000  4,516  80,768  19,523  2,986 
Putnam VT Growth Opportunities Fund  1,497  322  5,759  1,392  213 
Putnam VT High Yield Fund  5,581  1,200  21,467  5,189  794 
Putnam VT Income Fund  5,751  1,237  22,120  5,347  818 
Putnam VT International Equity Fund  3,196  687  12,294  2,972  455 
Putnam VT International Growth and Income Fund  2,008  432  7,724  1,867  286 
Putnam VT International New Opportunities Fund  1,891  407  7,273  1,758  269 
Putnam VT Investors Fund  2,333  502  8,974  2,169  332 
Putnam VT Mid Cap Value Fund  1,036  223  3,984  963  147 
Putnam VT Money Market Fund  2,233  480  8,590  2,076  318 
Putnam VT New Opportunities Fund  11,297  2,429  43,452  10,503  1,606 
Putnam VT Research Fund  1,781  383  6,850  1,656  253 
Putnam VT Small Cap Value Fund  2,307  496  8,875  2,145  328 
Putnam VT Vista Fund  2,141  461  8,236  1,991  304 
Putnam VT Voyager Fund  16,633  3,577  63,974  15,464  2,365 

(4) Includes additional compensation to Mr. Hill for service as Chairman of the Trustees of the Funds.

(5) Mr. Akhoury was elected to the Board of Trustees of the Putnam funds on February 12, 2009. \

(6) Mr. Reynolds was elected to the Board of Trustees of the Putnam funds on September 12, 2008.

(7) Mr. Stephens, who retired from the Board of Trustees of the Putnam funds on March 31, 2008, was re-elected to the Board of Trustees of the Putnam funds on May 14, 2009. Upon his retirement, Mr. Stephens became entitled to receive annual retirement benefit payments from the funds commencing on January 15, 2009. In connection with his re-election to the Board of Trustees, Mr. Stephens has agreed to suspend the balance of his retirement benefit payments for the duration of his service as a Trustee.

(8) Mr. Haldeman retired from the Board of Trustees of the Putnam funds on June 30, 2009.

C-19

Appendix D — Forms of Proposed Management Contract

For the following funds only:
Putnam AMT-Free Municipal Fund
Putnam American Government Income Fund
Putnam Arizona Tax Exempt Income Fund
Putnam Asset Allocation: Balanced Portfolio
Putnam Asset Allocation: Conservative Portfolio
Putnam Asset Allocation: Equity Portfolio
Putnam Asset Allocation: Growth Portfolio
Putnam California Tax Exempt Income Fund
Putnam Capital Opportunities Fund
Putnam Convertible Income-Growth Trust
Putnam Diversified Income Trust
Putnam Equity Income Fund
Putnam Floating Rate Income Fund
The Putnam Fund for Growth and Income
The George Putnam Fund of Boston
Putnam Global Consumer Fund
Putnam Global Energy Fund
Putnam Global Financials Fund
Putnam Global Health Care Fund
Putnam Global Industrials Fund
Putnam Global Income Trust
Putnam Global Natural Resources Fund
Putnam Global Technology Fund
Putnam Global Telecommunications Fund
Putnam Global Utilities Fund
Putnam High Yield Advantage Fund
Putnam High Yield Trust
Putnam Income Fund
Putnam Income Strategies Fund
Putnam Investors Fund
Putnam Massachusetts Tax Exempt Income Fund
Putnam Michigan Tax Exempt Income Fund
Putnam Mid Cap Value Fund
Putnam Minnesota Tax Exempt Income Fund
Putnam Money Market Fund

Putnam New Jersey Tax Exempt Income Fund
Putnam New York Tax Exempt Income Fund
Putnam Ohio Tax Exempt Income Fund
Putnam Pennsylvania Tax Exempt Income Fund
Putnam Research Fund
Putnam Small Cap Value Fund
Putnam Tax Exempt Income Fund
Putnam Tax Exempt Money Market Fund
Putnam Tax-Free High Yield Fund
Putnam U.S. Government Income Trust
Putnam VT American Government Income Fund
Putnam VT Capital Opportunities Fund
Putnam VT Diversified Income Fund
Putnam VT Equity Income Fund
Putnam VT The George Putnam Fund of Boston
Putnam VT Global Asset Allocation Fund
Putnam VT Global Equity Fund
Putnam VT Global Health Care Fund
Putnam VT Global Utilities Fund
Putnam VT Growth and Income Fund
Putnam VT Growth Opportunities Fund
Putnam VT High Yield Fund
Putnam VT Income Fund
Putnam VT International Equity Fund
Putnam VT International Growth and Income Fund
Putnam VT International New Opportunities Fund
Putnam VT Investors Fund
Putnam VT Mid Cap Value Fund
Putnam VT Money Market Fund
Putnam VT New Opportunities Fund
Putnam VT Research Fund
Putnam VT Small Cap Value Fund
Putnam VT Vista Fund
Putnam VT Voyager Fund

FORM OF PROPOSED MANAGEMENT CONTRACT

This Management Contract is dated as of January 1, 2010 between [NAME OF FUND], a Massachusetts business trust (the “Fund”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

In consideration of the mutual covenants herein contained, it is agreed as follows:

1. SERVICES TO BE RENDERED BY MANAGER TO FUND.

(a) The Manager, at its expense, will furnish continuously an investment program for the Fund or, in the case of a Fund that has divided its shares into two or more series under Section 18(f) (2) of the Investment Company Act of 1940, as amended (the “1940 Act”), each series of the Fund identified from time to time on Schedule A to this Contract (each reference in this Contract to “a Fund” or to “the Fund” is also deemed to be a reference to any existing series of the Fund, as appropriate in the particular context), will determine what investments will be purchased, held, sold or exchanged by the Fund and what portion, if any, of the assets of the Fund will be held uninvested and will, on behalf of the Fund, make changes in such investments. Subject always to the control of the Trustees of the Fund and except for the functi ons carried out by the officers and personnel referred to in Section 1(d), the Manager will also manage, supervise and conduct the other affairs and business of the Fund and matters incidental thereto. In the performance of its duties, the Manager will comply with the provisions of the Agreement and Declaration of Trust and By-Laws of the Fund and the stated investment objectives, policies and restrictions of the Fund, will use its best efforts to safeguard and promote the welfare of the Fund and to comply with other policies which the Trustees may from time to time determine and will exercise the same care and diligence expected of the Trustees.

D-1

(b) The Manager, at its expense, except as such expense is paid by the Fund as provided in Section 1(d), will furnish (1) all necessary investment and management facilities, including salaries of personnel, required for it to execute its duties faithfully; (2) suitable office space for the Fund; and (3) administrative facilities, including bookkeeping, clerical personnel and equipment necessary for the efficient conduct of the affairs of the Fund, including determination of the net asset value of the Fund, but excluding shareholder accounting services. Except as otherwise provided in Section 1(d), the Manager will pay the compensation, if any, of the officers of the Fund.

(c) The Manager, at its expense, will place all orders for the purchase and sale of portfolio investments for the Fund’s account with brokers or dealers selected by the Manager. In the selection of such brokers or dealers and the placing of such orders, the Manager will use its best efforts to obtain for the Fund the most favorable price and execution available, except to the extent it may be permitted to pay higher brokerage commissions for brokerage and research services as described below. In using its best efforts to obtain for the Fund the most favorable price and execution available, the Manager, bearing in mind the Fund’s best interests at all times, will consider all factors it deems relevant, including by way of illustration, price, the size of the transaction, the nature of the market for the security, the amount of the commission, the timing of the transaction taking into account market prices and trends, the reputation, experience and financial stability of the broker or dealer involved and the quality of service rendered by the broker or dealer in other transactions. Subject to such policies as the Trustees of the Fund may determine, the Manager will not be deemed to have acted unlawfully or to have breached any duty created by this Contract or otherwise solely by reason of its having caused the Fund to pay a broker or dealer that provides brokerage and research services to the Manager an amount of commission for effecting a portfolio investment transaction in excess of the amount of commission another broker or dealer would have charged for effecting that transaction, if the Manager determines in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, viewed in terms of either that particular transaction or the Manager’s overall responsibilities with respect to the Fund and to other clients of the Manager as to which the Manager exercises inv estment discretion. The Manager agrees that in connection with purchases or sales of portfolio investments for the Fund’s account, neither the Manager nor any officer, director, employee or agent of the Manager shall act as a principal or receive any commission other than as provided in Section 3.

(d) The Fund will pay or reimburse the Manager for the compensation in whole or in part of such officers of the Fund and persons assisting them as may be determined from time to time by the Trustees of the Fund. The Fund will also pay or reimburse the Manager for all or part of the cost of suitable office space, utilities, support services and equipment attributable to such officers and persons as may be determined in each case by the Trustees of the Fund. The Fund will pay the fees, if any, of the Trustees of the Fund.

(e) The Manager will not be obligated to pay any expenses of or for the Fund not expressly assumed by the Manager pursuant to this Section 1 other than as provided in Section 3.

(f) Subject to the prior approval of a majority of the Trustees, including a majority of the Trustees who are not “interested persons” and, to the extent required by the 1940 Act and the rules and regulations under the 1940 Act, subject to any applicable guidance or interpretation of the Securities and Exchange Commission or its staff, by the shareholders of the Fund, the Manager may, from time to time, delegate to a sub-adviser or sub-administrator any of the Manager’s duties under this Contract, including the management of all or a portion of the assets being managed. In all instances, however, the Manager must oversee the provision of delegated services, the Manager must bear the separate costs of employing any sub-adviser or sub-administrator, and no delegation will relieve the Manager of any of its obligations under this Contract.

2. OTHER AGREEMENTS, ETC.

It is understood that any of the shareholders, Trustees, officers and employees of the Fund may be a shareholder, director, officer or employee of, or be otherwise interested in, the Manager, and in any person controlled by or under common control with the Manager, and that the Manager and any person controlled by or under common control with the Manager may have an interest in the Fund. It is also understood that the Manager and any person controlled by or under common control with the Manager may have advisory, management, service or other contracts with other organizations and persons and may have other interests and business.

3. COMPENSATION TO BE PAID BY THE FUND TO
THE MANAGER.

The Fund will pay to the Manager as compensation for the Manager’s services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), and (c) of Section 1, a fee, based on the Fund’s Average Net Assets, computed and paid monthly at the annual rates set forth on Schedule B attached to this Contract, as from time to time amended. The Fund’s “Average Net Assets” means the average of all of the determinations of the Fund’s net asset value at the close of business on each business day during each month while this Contract is in effect. The fee is payable for each month within 15 days after the close of the month.

The fees payable by the Fund to the Manager pursuant to this Section 3 will be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments.

D-2

In the event that expenses of the Fund for any fiscal year exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are qualified for offer or sale, the compensation due the Manager for such fiscal year will be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager will be reduced, and if necessary, the Manager will assume expenses of the Fund, to the extent required by the terms and conditions of such expense limitation.

If the Manager serves for less than the whole of a month, the foregoing compensation will be prorated.

4. ASSIGNMENT TERMINATES THIS CONTRACT;
AMENDMENTS OF THIS CONTRACT.

This Contract will automatically terminate, without the payment of any penalty, in the event of its assignment, provided that no delegation of responsibilities by the Manager pursuant to Section 1(f) will be deemed to constitute an assignment. No provision of this Contract may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought. No amendment of this Contract is effective until approved in a manner consistent with the 1940 Act, the rules and regulations under the 1940 Act and any applicable guidance or interpretation of the Securities and Exchange Commission or its staff.

5. EFFECTIVE PERIOD AND TERMINATION OF
THIS CONTRACT.

This Contract is effective upon its execution and will remain in full force and effect as to a Fund continuously thereafter (unless terminated automatically as set forth in Section 4 or terminated in accordance with the following paragraph) through June 30, 2010, and will continue in effect from year to year thereafter so long as its continuance is approved at least annually by (i) the Trustees, or the shareholders by the affirmative vote of a majority of the outstanding shares of the respective Fund, and (ii) a majority of the Trustees who are not interested persons of the Fund or of the Manager, by vote cast in person at a meeting called for the purpose of voting on such approval.

Either party hereto may at any time terminate this Contract as to a Fund by not less than 60 days’ written notice delivered or mailed by registered mail, postage prepaid, to the other party. Action with respect to a Fund may be taken either (i) by vote of a majority of the Trustees or (ii) by the affirmative vote of a majority of the outstanding shares of the respective Fund.

Termination of this Contract pursuant to this Section 5 will be without the payment of any penalty.

6. CERTAIN DEFINITIONS.

For the purposes of this Contract, the “affirmative vote of a majority of the outstanding shares” of a Fund means the affirmative vote, at a duly called and held meeting of shareholders of the respective Fund, (a) of the holders of 67% or more of the shares of the Fund present (in person or by proxy) and entitled to vote at the meeting, if the holders of more than 50% of the outstanding shares of the Fund entitled to vote at the meeting are present in person or by proxy or (b) of the holders of more than 50% of the outstanding shares of the Fund entitled to vote at the meeting, whichever is less.

For the purposes of this Contract, the terms “affiliated person,” “control,” “interested person” and “assignment” have their respective meanings defined in the 1940 Act, subject, however, to the rules and regulations under the 1940 Act and any applicable guidance or interpretation of the Securities and Exchange Commission or its staff; the term “approve at least annually” will be construed in a manner consistent with the 1940 Act and the rules and regulations under the 1940 Act and any applicable guidance or interpretation of the Securities and Exchange Commission or its staff; and the term “brokerage and research services” has the meaning given in the Securities Exchange Act of 1934 and the rules and regulations under the Securities Exchange Act of 1934 and under any applicable guidance or interpretation of the Securities and Exchange Commission or its staff.

7. NON-LIABILITY OF MANAGER.

In the absence of willful misfeasance, bad faith or gross negligence on the part of the Manager, or reckless disregard of its obligations and duties hereunder, the Manager shall not be subject to any liability to the Fund or to any shareholder of the Fund for any act or omission in the course of, or connected with, rendering services hereunder.

8. LIMITATION OF LIABILITY OF THE TRUSTEES, OFFICERS,
AND SHAREHOLDERS.

A copy of the Agreement and Declaration of Trust of the Fund is on file with the Secretary of The Commonwealth of Massa-chusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of the Fund as Trustees and not individually and that the obligations of or arising out of this instrument are not binding upon any of the Trustees, officers or shareholders individually but are binding only upon the assets and property of the respective Fund.

IN WITNESS WHEREOF, [NAME OF FUND] and PUTNAM INVESTMENT MANAGEMENT, LLC have each caused this instrument to be signed on its behalf by its President or a Vice President thereunto duly authorized, all as of the day and year first above written.

D-3

[NAME OF FUND]

By: ___________________________

PUTNAM INVESTMENT MANAGEMENT, LLC

By: ___________________________

Schedule A
[LIST OF FUNDS]

Schedule B
[FEE SCHEDULE: See Appendix F to this proxy statement for
each fund’s detailed fee information.]
_______________________________________________

For the following funds only:
Putnam Absolute Return 100 Fund
Putnam Absolute Return 300 Fund
Putnam Absolute Return 500 Fund
Putnam Absolute Return 700 Fund
Putnam Asia Pacific Equity Fund
Putnam Capital Spectrum Fund
Putnam Emerging Markets Equity Fund
Putnam Equity Spectrum Fund
Putnam Europe Equity Fund
Putnam Global Equity Fund
Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam International Growth and Income Fund
Putnam International New Opportunities Fund
Putnam New Opportunities Fund
Putnam Small Cap Growth Fund
Putnam Vista Fund
Putnam Voyager Fund

FORM OF PROPOSED MANAGEMENT CONTRACT

This Management Contract is dated as of January 1, 2010 between [NAME OF FUND], a Massachusetts business trust (the “Fund”), and PUTNAM INVESTMENT MANAGEMENT, LLC, a Delaware limited liability company (the “Manager”).

In consideration of the mutual covenants herein contained, it is agreed as follows:

1. SERVICES TO BE RENDERED BY MANAGER TO FUND.

(a) The Manager, at its expense, will furnish continuously an investment program for the Fund or, in the case of a Fund that has divided its shares into two or more series under Section 18(f) (2) of the Investment Company Act of 1940, as amended (the “1940 Act”), each series of the Fund identified from time to time on Schedule A to this Contract (each reference in this Contract to “a Fund” or to “the Fund” is also deemed to be a reference to any existing series of the Fund, as appropriate in the particular context), will determine what investments will be purchased, held, sold or exchanged by the Fund and what portion, if any, of the assets of the Fund will be held uninvested and will, on behalf of the Fund, make changes in such investments. Subject always to the control of the Trustees of the Fund and except for the functi ons carried out by the officers and personnel referred to in Section 1(d), the Manager will also manage, supervise and conduct the other affairs and business of the Fund and matters incidental thereto. In the performance of its duties, the Manager will comply with the provisions of the Agreement and Declaration of Trust and By-Laws of the Fund and the stated investment objectives, policies and restrictions of the Fund, will use its best efforts to safeguard and promote the welfare of the Fund and to comply with other policies which the Trustees may from time to time determine and will exercise the same care and diligence expected of the Trustees.

(b) The Manager, at its expense, except as such expense is paid by the Fund as provided in Section 1(d), will furnish (1) all necessary investment and management facilities, including salaries of personnel, required for it to execute its duties faithfully; (2) suitable office space for the Fund; and (3) administrative facilities, including bookkeeping, clerical personnel and equipment necessary for the efficient conduct of the affairs of the Fund, including determination of the net asset value of the Fund, but excluding shareholder accounting services. Except as otherwise provided in Section 1(d), the Manager will pay the compensation, if any, of the officers of the Fund.

(c) The Manager, at its expense, will place all orders for the purchase and sale of portfolio investments for the Fund’s account with brokers or dealers selected by the Manager. In the selection of such brokers or dealers and the placing of such orders, the Manager will use its best efforts to obtain for the Fund the most favorable price and execution available, except to the extent it may be permitted to pay higher brokerage commissions for brokerage and research services as described below. In using its best efforts to obtain for the Fund the most favorable price and execution available, the Manager, bearing in mind the Fund’s best interests at all times, will consider all factors it deems relevant, including by way of illustration, price, the size of the transaction, the nature of the market for the security, the amount of the commission, the timing of the transaction taking into account market prices and trends, the reputation, experience and financial stability of the broker or dealer involved and the quality of service rendered by the broker or dealer in other transactions. Subject to such policies as the Trustees of the Fund may determine, the Manager will not be deemed to have acted unlawfully or to have breached any duty created by this Contract or otherwise solely by reason of its having caused the Fund to pay a broker or dealer that provides brokerage and research

D-4

services to the Manager an amount of commission for effecting a portfolio investment transaction in excess of the amount of commission another broker or dealer would have charged for effecting that transaction, if the Manager determines in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, viewed in terms of either that particular transaction or the Manager’s overall responsibilities with respect to the Fund and to other clients of the Manager as to which the Manager exercises investment discretion. The Manager agrees that in connection with purchases or sales of portfolio investments for the Fund’s account, neither the Manager nor any officer, director, employee or agent of the Manager shall act as a principal or receive any commission other than as provided in Section 3.

(d) The Fund will pay or reimburse the Manager for the compensation in whole or in part of such officers of the Fund and persons assisting them as may be determined from time to time by the Trustees of the Fund. The Fund will also pay or reimburse the Manager for all or part of the cost of suitable office space, utilities, support services and equipment attributable to such officers and persons as may be determined in each case by the Trustees of the Fund. The Fund will pay the fees, if any, of the Trustees of the Fund.

(e) The Manager will not be obligated to pay any expenses of or for the Fund not expressly assumed by the Manager pursuant to this Section 1 other than as provided in Section 3.

(f) Subject to the prior approval of a majority of the Trustees, including a majority of the Trustees who are not “interested persons” and, to the extent required by the 1940 Act and the rules and regulations under the 1940 Act, subject to any applicable guidance or interpretation of the Securities and Exchange Commission or its staff, by the shareholders of the Fund, the Manager may, from time to time, delegate to a sub-adviser or sub-administrator any of the Manager’s duties under this Contract, including the management of all or a portion of the assets being managed. In all instances, however, the Manager must oversee the provision of delegated services, the Manager must bear the separate costs of employing any sub-adviser or sub-administrator, and no delegation will relieve the Manager of any of its obligations under this Contract.

2. OTHER AGREEMENTS, ETC.

It is understood that any of the shareholders, Trustees, officers and employees of the Fund may be a shareholder, director, officer or employee of, or be otherwise interested in, the Manager, and in any person controlled by or under common control with the Manager, and that the Manager and any person controlled by or under common control with the Manager may have an interest in the Fund. It is also understood that the Manager and any person controlled by or under common control with the Manager may have advisory, management, service or other contracts with other organizations and persons and may have other interests and business.

3. COMPENSATION TO BE PAID BY THE FUND TO
THE MANAGER.

The Fund will pay to the Manager as compensation for the Manager’s services rendered, for the facilities furnished and for the expenses borne by the Manager pursuant to paragraphs (a), (b), and (c) of Section 1, a Base Fee, computed and paid monthly on the Average Net Assets of the Fund at the annual rates set forth on Schedule B attached to this Contract, as from time to time amended, subject to adjustment as set forth on Schedule C attached to this Contract, as from time to time amended. The Fund’s “Average Net Assets” means the average of all of the determinations of the Fund’s net asset value at the close of business on each business day during each period for which such computation is made. The Base Fee, as adjusted, is payable for each month within 15 days after the close of the m onth.

The fees payable by the Fund to the Manager pursuant to this Section 3 will be reduced by any commissions, fees, brokerage or similar payments received by the Manager or any affiliated person of the Manager in connection with the purchase and sale of portfolio investments of the Fund, less any direct expenses approved by the Trustees incurred by the Manager or any affiliated person of the Manager in connection with obtaining such payments.

In the event that expenses of the Fund for any fiscal year exceed the expense limitation on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the Fund are qualified for offer or sale, the compensation due the Manager for such fiscal year will be reduced by the amount of excess by a reduction or refund thereof. In the event that the expenses of the Fund exceed any expense limitation which the Manager may, by written notice to the Fund, voluntarily declare to be effective subject to such terms and conditions as the Manager may prescribe in such notice, the compensation due the Manager will be reduced, and if necessary, the Manager will assume expenses of the Fund,to the extent required by the terms and conditions of such expense limitation.

If the Manager serves for less than the whole of a month, the foregoing compensation will be prorated.

4. ASSIGNMENT TERMINATES THIS CONTRACT;
AMENDMENTS OF THIS CONTRACT.

This Contract will automatically terminate, without the payment of any penalty, in the event of its assignment, provided that no delegation of responsibilities by the Manager pursuant to Section 1(f) will be deemed to constitute an assignment. No provision of this Contract may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the party against which enforcement of the change, waiver, discharge or termination is sought. No amendment of this Contract is effective until approved in a manner consistent with the 1940 Act, the rules and regulations under the 1940 Act and

D-5

any applicable guidance or interpretation of the Securities and Exchange Commission or its staff.

5. EFFECTIVE PERIOD AND TERMINATION OF THIS CONTRACT.

This Contract is effective upon its execution and will remain in full force and effect as to a Fund continuously thereafter (unless terminated automatically as set forth in Section 4 or terminated in accordance with the following paragraph) through June 30, 2010, and will continue in effect from year to year thereafter so long as its continuance is approved at least annually by (i) the Trustees, or the shareholders by the affirmative vote of a majority of the outstanding shares of the respective Fund, and (ii) a majority of the Trustees who are not interested persons of the Fund or of the Manager, by vote cast in person at a meeting called for the purpose of voting on such approval.

Either party hereto may at any time terminate this Contract as to a Fund by not less than 60 days’ written notice delivered or mailed by registered mail, postage prepaid, to the other party. Action with respect to a Fund may be taken either (i) by vote of a majority of the Trustees or (ii) by the affirmative vote of a majority of the outstanding shares of the respective Fund.

Termination of this Contract pursuant to this Section 5 will be without the payment of any penalty.

6. CERTAIN DEFINITIONS.

For the purposes of this Contract, the “affirmative vote of a majority of the outstanding shares” of a Fund means the affirmative vote, at a duly called and held meeting of shareholders of the respective Fund, (a) of the holders of 67% or more of the shares of the Fund present (in person or by proxy) and entitled to vote at the meeting, if the holders of more than 50% of the outstanding shares of the Fund entitled to vote at the meeting are present in person or by proxy or (b) of the holders of more than 50% of the outstanding shares of the Fund entitled to vote at the meeting, whichever is less.

For the purposes of this Contract, the terms “affiliated person,” “control,” “interested person” and “assignment” have their respective meanings defined in the 1940 Act, subject, however, to the rules and regulations under the 1940 Act and any applicable guidance or interpretation of the Securities and Exchange Commission or its staff; the term “approve at least annually” will be construed in a manner consistent with the 1940 Act and the rules and regulations under the 1940 Act and any applicable guidance or interpretation of the Securities and Exchange Commission or its staff; and the term “brokerage and research services” has the meaning given in the Securities Exchange Act of 1934 and the rules and regulations under the Securities Exchange Act of 1934 and under any applicable guidance or interpretation of the Securities and Exchange Commission or its staff.

7. NON-LIABILITY OF MANAGER.

In the absence of willful misfeasance, bad faith or gross negligence on the part of the Manager, or reckless disregard of its obligations and duties hereunder, the Manager shall not be subject to any liability to the Fund or to any shareholder of the Fund for any act or omission in the course of, or connected with, rendering services hereunder.

8. LIMITATION OF LIABILITY OF THE TRUSTEES, OFFICERS,
AND SHAREHOLDERS.

A copy of the Agreement and Declaration of Trust of the Fund is on file with the Secretary of The Commonwealth of Massa-chusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of the Fund as Trustees and not individually and that the obligations of or arising out of this instrument are not binding upon any of the Trustees, officers or shareholders individually but are binding only upon the assets and property of the respective Fund.

IN WITNESS WHEREOF, [NAME OF FUND] and PUTNAM INVESTMENT MANAGEMENT, LLC have each caused this instrument to be signed on its behalf by its President or a Vice President thereunto duly authorized, all as of the day and year first above written.

[NAME OF FUND]

By: ___________________________

PUTNAM INVESTMENT MANAGEMENT, LLC

By: ___________________________

Schedule A
[LIST OF FUNDS]

Schedule B
Schedule B

[FEE SCHEDULE:

Putnam Absolute Return 100 Fund
Putnam Absolute Return 300 Fund
Putnam Absolute Return 500 Fund
Putnam Absolute Return 700 Fund
Putnam Capital Spectrum Fund
Putnam Equity Spectrum Fund

For the funds listed above, see Appendix F (Proposed Fee Schedules) to this proxy statement for each fund’s detailed fee information.

* * *

D-6

Putnam Asia Pacific Equity Fund
Putnam Emerging Markets Equity Fund
Putnam Europe Equity Fund
Putnam Global Equity Fund
Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam International Growth and Income Fund
Putnam International New Opportunities Fund
Putnam New Opportunities Fund
Putnam Small Cap Growth Fund
Putnam Vista Fund
Putnam Voyager Fund

For the funds listed above, if Proposal 2.A. (a management contract containing both Fund Family breakpoints and performance fees) is approved and implemented for the fund, see Appendix F (Proposed Fee Schedules) and Appendix G (Proposed Benchmarks) to this proxy statement for each fund’s detailed fee information.

If Proposal 2.B. (a management contract containing Fund Family breakpoints only) is approved and implemented for the fund, see Appendix F (Proposed Fee Schedules) to this proxy statement for each fund’s detailed fee information.

If Proposal 2.C. (a management contract containing performance fees only) is approved and implemented for the fund, see Appendix G (Proposed Benchmarks) and Appendix E (Current Fee Schedules) to this proxy statement for each fund’s detailed fee information.]

Schedule C

[This Schedule C is included for the following funds only:

Putnam Absolute Return 100 Fund
Putnam Absolute Return 300 Fund
Putnam Absolute Return 500 Fund
Putnam Absolute Return 700 Fund]

Commencing with the thirteenth whole calendar month of the Fund’s operations, the Fund’s Base Fee computed in accordance with Schedule B will be adjusted, on a monthly basis, upward or downward, as the case may be, by an amount computed by applying the Performance Adjustment Rate to the Average Net Assets of the Fund for the Performance Period and dividing the result by twelve.

Performance Period. The Performance Period is equal to the shorter of (i) the period from the date the Fund commenced operations to the end of the month for which the fee adjustment is being computed or (ii) the thirty-six month period then ended.

Performance Adjustment Rate. The Performance Adjustment Rate is equal to the product of 0.04 multiplied by the difference, positive or negative, obtained by subtracting (i) the sum of the Investment Record of the Benchmark for the Performance Period plus the Hurdle from (ii) the Investment Performance of the Measuring Class for the Performance Period; provided that the Performance Adjustment Rate for the Fund may not exceed the Maximum Performance Adjustment Rate set forth on Schedule B or be less than the Minimum Performance Adjustment Rate set forth on Schedule B.

Investment Performance and Investment Record. These terms are used as defined in Rule 205-1 under the Investment Advisers Act of 1940, as amended, and shall each be computed on an annualized basis for any Performance Period greater than one year.

Hurdle. The Fund’s Hurdle is set forth in Schedule B.

Benchmark. The Fund’s initial Benchmark is set forth in Schedule B. If the Trustees determine that another appropriate index of securities prices should be substituted as the Benchmark, the Trustees may determine, with the consent of the Manager, to use such other appropriate index of securities prices for purposes of this Schedule C (the “Replacement Benchmark”) without shareholder approval, unless shareholder approval of the change is otherwise required by applicable law. Any Replacement Benchmark will be applied prospectively to determine the amount of the Performance Adjustment. The Benchmark will continue to be used to determine the amount of the Performance Adjustment for that part of the Performance Period prior to the effective date of the Replac ement Benchmark. Measuring Class. The “Measuring Class” of shares of the Fund initially is Class A shares of the Fund. If the Trustees determine that a different class of shares of the Fund is the most appropriate for use in calculating the Performance Adjustment, the Trustees may change, with the consent of the Manager, the class of shares used as the Measuring Class without shareholder approval, unless shareholder approval of such change is otherwise required by applicable law. If a different class of shares (“Replacement Measuring Class”) is substituted in calculating the Performance Adjustment, the use of that Replacement Measuring Class of shares for purposes of calculating the Performance Adjustment may apply to the entire Performance Period so long as the Replacement Measuring Class was outstanding at the beginning of such period. If the Replacement Measuring Class of shares was not outstanding for all or a por tion of the Performance Period, it may only be used in calculating that portion of the Performance Adjustment attributable to the period during which the Replacement Measuring Class was outstanding and any previous portion of the Performance Period will be calculated using the Measuring Class.

Notwithstanding any other provisions in this Schedule C, the computation of the Performance Adjustment Rate, the Investment Performance of the Measuring Class and the Investment Record of the Benchmark will be made in accordance with the Investment Advisers Act of 1940, as amended, and any applicable rules thereunder.

Schedule C

[This Schedule C is included for the following funds only:

Putnam Capital Spectrum Fund
Putnam Equity Spectrum Fund]

D-7

Commencing with the thirteenth whole calendar month of the Fund’s operations, the Fund’s Base Fee computed in accordance with Schedule B will be adjusted, on a monthly basis, upward or downward, as the case may be, by an amount computed by applying the Performance Adjustment Rate to the Average Net Assets of the Fund for the Performance Period and dividing the result by twelve.

Performance Period. The Performance Period is equal to the shorter of (i) the period from the date the Fund commenced operations to the end of the month for which the fee adjustment is being computed or (ii) the thirty-six month period then ended.

Performance Adjustment Rate. The Performance Adjustment Rate is equal to the product of 0.04 multiplied by the difference, positive or negative, obtained by subtracting (i) the Investment Record of the Benchmark for the Performance Period from (ii) the Investment Performance of the Measuring Class for the Performance Period; provided that the Performance Adjustment Rate for the Fund may not exceed the Maximum Performance Adjustment Rate set forth on Schedule B or be less than the Minimum Performance Adjustment Rate set forth on Schedule B.

Investment Performance and Investment Record. These terms are used as defined in Rule 205-1 under the Investment Advisers Act of 1940, as amended, and shall each be computed on an annualized basis for any Performance Period greater than one year.

Benchmark. The Fund’s initial Benchmark is set forth in Schedule B. If the Trustees determine that another appropriate index of securities prices should be substituted as the Benchmark, the Trustees may determine, with the consent of the Manager, to use such other appropriate index of securities prices for purposes of this Schedule C (the “Replacement Benchmark”) without shareholder approval, unless shareholder approval of the change is otherwise required by applicable law. Any Replacement Benchmark will be applied prospectively to determine the amount of the Performance Adjustment. The Benchmark will continue to be used to determine the amount of the Performance Adjustment for that part of the Performance Period prior to the effective date of the Replac ement Benchmark.

Measuring Class. The “Measuring Class” of shares of the Fund initially is Class A shares of the Fund. If the Trustees determine that a different class of shares of the Fund is the most appropriate for use in calculating the Performance Adjustment, the Trustees may change, with the consent of the Manager, the class of shares used as the Measuring Class without shareholder approval, unless shareholder approval of such change is otherwise required by applicable law. If a different class of shares (“Replacement Measuring Class”) is substituted in calculating the Performance Adjustment, the use of that Replacement Measuring Class of shares for purposes of calculating the Performance Adjustment may apply to the entire Performance Period so long as the Replacement Measuring Class was outstanding at the beginning of such period. If the Replacement Measuring Class of shares was not outstanding for all or a portion of the Performance Period, it may only be used in calculating that portion of the Performance Adjustment attributable to the period during which the Replacement Measuring Class was outstanding and any previous portion of the Performance Period will be calculated using the Measuring Class. Notwithstanding any other provisions in this Schedule C, the computation of the Performance Adjustment Rate, the Investment Performance of the Measuring Class and the Investment Record of the Benchmark will be made in accordance with the Investment Advisers Act of 1940, as amended, and any applicable rules thereunder.

Schedule C

[This Schedule C is included for each of the following funds for which Proposal 2.A. or Proposal 2.C. is approved by shareholders and implemented:

Putnam Asia Pacific Equity Fund
Putnam Emerging Markets Equity Fund
Putnam Europe Equity Fund
Putnam Global Equity Fund
Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam International Growth and Income Fund
Putnam International New Opportunities Fund
Putnam New Opportunities Fund
Putnam Small Cap Growth Fund
Putnam Vista Fund
Putnam Voyager Fund]

Commencing with the thirteenth whole calendar month after the later of January 1, 2010 and the date of execution of this Contract, the Fund’s Base Fee computed in accordance with Schedule B will be adjusted, on a monthly basis, upward or downward, as the case may be, by an amount computed by applying the Performance Adjustment Rate to the Average Net Assets of the Fund for the Performance Period and dividing the result by twelve.

Performance Period. The Performance Period is equal to the shorter of (i) the period from the later of January 1, 2010 and the date of the execution of this Contract to the end of the month for which the fee adjustment is being computed or (ii) the thirty-six month period then ended.

Performance Adjustment Rate. The Performance Adjustment Rate is equal to the product of 0.03 multiplied by the difference, positive or negative, obtained by subtracting (i) the Investment Record of the Benchmark for the Performance Period from (ii) the Investment Performance of the Measuring Class for the Performance Period; provided that the Performance Adjustment Rate for the Fund may not exceed the Maximum Performance Adjustment Rate set forth on Schedule B or be less than the Minimum Performance Adjustment Rate set forth on Schedule B.

D-8

Investment Performance and Investment Record. These terms are used as defined in Rule 205-1 under the Investment Advisers Act of 1940, as amended, and shall each be computed on an annualized basis for any Performance Period greater than one year.

Benchmark. The Fund’s initial Benchmark is set forth in Schedule B. If the Trustees determine that another appropriate index of securities prices should be substituted as the Benchmark, the Trustees may determine, with the consent of the Manager, to use such other appropriate index of securities prices for purposes of this Schedule C (the “Replacement Benchmark”) without shareholder approval, unless shareholder approval of the change is otherwise required by applicable law. Any Replacement Benchmark will be applied prospectively to determine the amount of the Performance Adjustment. The Benchmark will continue to be used to determine the amount of the Performance Adjustment for that part of the Performance Period prior to the effective date of the Replac ement Benchmark.

Measuring Class. The “Measuring Class” of shares of the Fund initially is Class A shares of the Fund. If the Trustees determine that a different class of shares of the Fund is the most appropriate for use in calculating the Performance Adjustment, the Trustees may change, with the consent of the Manager, the class of shares used as the Measuring Class without shareholder approval, unless shareholder approval of such change is otherwise required by applicable law. If a different class of shares (“Replacement Measuring Class”) is substituted in calculating the Performance Adjustment, the use of that Replacement Measuring Class of shares for purposes of calculating the Performance Adjustment may apply to the entire Performance Period so long as the Replacement Measuring Class was outstanding at the beginning of such period. If the Replacement Measuring Class of shares was not outstanding for all or a portio n of the Performance Period, it may only be used in calculating that portion of the Performance Adjustment attributable to the period during which the Replacement Measuring Class was outstanding and any previous portion of the Performance Period will be calculated using the Measuring Class. Notwithstanding any other provisions in this Schedule C, the computation of the Performance Adjustment Rate, the Investment Performance of the Measuring Class and the Investment Record of the Benchmark will be made in accordance with the Investment Advisers Act of 1940, as amended, and any applicable rules thereunder.

Appendix E — Current Fee Schedule

The following table sets forth each fund’s current management fee schedule.

Fund  Management Fee Rate   
Putnam Absolute  First $500 million  0.55% 
Return 100 Fund  Next $500 million  0.45% 
  Next $500 million  0.40% 
  Next $5 billion  0.35% 
  Next $5 billion  0.325% 
  Next $5 billion  0.305% 
  Next $5 billion  0.29% 
  Any excess thereafter  0.28% 
  Benchmark: Merrill Lynch US Treasury Bill Index 
  (G0BA)   
  Hurdle: 1.00%   
  Maximum Performance Adjustment Rate:  0.04% 
  Minimum Performance Adjustment Rate:  -0.04% 
Putnam Absolute  First $500 million  0.65% 
Return 300 Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
  Benchmark:Merrill Lynch US Treasury Bill Index 
  (G0BA)   
  Hurdle:  3.00% 
  Maximum Performance Adjustment Rate:  0.12% 
  Minimum Performance Adjustment Rate:  -0.12% 
Putnam Absolute  First $500 million  0.80% 
Return 500 Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess thereafter  0.53% 
  Benchmark: Merrill Lynch US Treasury Bill Index 
  (G0BA)   
  Hurdle: 5.00%   
  Maximum Performance Adjustment Rate:  0.20% 
  Minimum Performance Adjustment Rate:  -0.20% 
Putnam Absolute  First $500 million  0.95% 
Return 700 Fund  Next $500 million  0.85% 
  Next $500 million  0.80% 
  Next $5 billion  0.75% 
  Next $5 billion  0.725% 
  Next $5 billion  0.705% 
  Next $5 billion  0.69% 
  Any excess thereafter  0.68% 
  Benchmark: Merrill Lynch US Treasury Bill Index 
  (G0BA)   
  Hurdle: 7.00%   
  Maximum Performance Adjustment Rate:  0.28% 
  Minimum Performance Adjustment Rate:  -0.28% 
Putnam American  First $500 million  0.65% 
Government Income  Next $500 million  0.55% 
Fund  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 

E-1

Fund  Management Fee Rate   
Putnam AMT-Free  The lesser of 0.50%, or   
Municipal Fund  First $500 million  0.60% 
  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess thereafter  0.33% 
Putnam Arizona  The lesser of 0.50%, or   
Tax Exempt  First $500 million  0.60% 
Income Fund  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 
Putnam Asia Pacific  First $500 million  1.00% 
Equity Fund  Next $500 million  0.90% 
  Next $500 million  0.85% 
  Next $5 billion  0.80% 
  Next $5 billion  0.775% 
  Next $5 billion  0.755% 
  Next $5 billion  0.74% 
  Next $5 billion  0.73% 
  Next $5 billion  0.72% 
  Next $5 billion  0.71% 
  Next $5 billion  0.70% 
  Next $5 billion  0.69% 
  Next $8.5 billion  0.68% 
  Any excess thereafter  0.67% 
Putnam Asset  First $500 million  0.70% 
Allocation: Balanced  Next $500 million  0.60% 
Portfolio  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess over $21.5 billion  0.43% 
Putnam Asset  First $500 million  0.70% 
Allocation:  Next $500 million  0.60% 
Conservative  Next $500 million  0.55% 
Portfolio  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess over $21.5 billion  0.43% 
Putnam Asset  First $500 million  0.70% 
Allocation: Equity  Next $500 million  0.60% 
Portfolio  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess thereafter  0.37% 

Fund  Management Fee Rate   
Putnam Asset  First $500 million  0.70% 
Allocation: Growth  Next $500 million  0.60% 
Portfolio  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess over $21.5 billion  0.43% 
Putnam California  The lesser of 0.50%, or   
Tax Exempt  First $500 million  0.60% 
Income Fund  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess thereafter  0.33% 
Putnam Capital  First $500 million  0.65% 
Opportunities Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess over $21.5 billion  0.38% 
Putnam Capital  First $500 million  0.80% 
Spectrum Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Next $5 billion  0.53% 
  Next $5 billion  0.52% 
  Next $5 billion  0.51% 
  Next $5 billion  0.50% 
  Next $5 billion  0.49% 
  Next $8.5 billion  0.48% 
  Any excess thereafter  0.47% 
  Benchmark:50/50 blend (balanced daily) of 
  S&P 500 Index and JP Morgan Developed   
  High Yield Index   
  Maximum Performance Adjustment Rate:  0.32% 
  Minimum Performance Adjustment Rate:  -0.32% 
Putnam Convertible  First $500 million  0.65% 
Income-Growth Trust  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam Diversified  First $500 million  0.70% 
Income Trust  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 

E-2

Fund  Management Fee Rate   
Putnam Emerging  First $500 million  1.00% 
Markets Equity Fund  Next $500 million  0.90% 
  Next $500 million  0.85% 
  Next $5 billion  0.80% 
  Next $5 billion  0.775% 
  Next $5 billion  0.755% 
  Next $5 billion  0.74% 
  Next $5 billion  0.73% 
  Next $5 billion  0.72% 
  Next $5 billion  0.71% 
  Next $5 billion  0.70% 
  Next $5 billion  0.69% 
  Next $8.5 billion  0.68% 
  Any excess thereafter  0.67% 
 
Putnam Equity  First $500 million  0.65% 
Income Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam Equity  First $500 million  0.80% 
Spectrum Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Next $5 billion  0.53% 
  Next $5 billion  0.52% 
  Next $5 billion  0.51% 
  Next $5 billion  0.50% 
  Next $5 billion  0.49% 
  Next $8.5 billion  0.48% 
  Any excess thereafter  0.47% 
Benchmark:S&P 500 Index   
  Maximum Performance Adjustment Rate:  0.40% 
  Minimum Performance Adjustment Rate:  -0.40% 
Putnam Europe  First $500 million  0.80% 
Equity Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess thereafter  0.53% 
Putnam Floating  First $500 million  0.65% 
Rate Income Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Next $5 billion  0.38% 
  Next $5 billion  0.37% 
  Next $5 billion  0.36% 
  Next $5 billion  0.35% 
  Next $5 billion  0.34% 
  Next $8.5 billion  0.33% 
  Any excess thereafter  0.32% 

Fund  Management Fee Rate   
The Putnam Fund for  First $500 million  0.65% 
Growth and Income  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Next $5 billion  0.38% 
  Next $5 billion  0.37% 
  Next $5 billion  0.36% 
  Next $5 billion  0.35% 
  Next $5 billion  0.34% 
  Next $8.5 billion  0.33% 
  Any excess over $55 billion  0.32% 
The George Putnam  First $500 million  0.65% 
Fund of Boston  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam Global  First $500 million  0.70% 
Consumer Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess thereafter  0.37% 
Putnam Global  First $500 million  0.70% 
Energy Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess thereafter  0.37% 
Putnam Global  First $500 million  0.80% 
Equity Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Next $5 billion  0.53% 
  Next $5 billion  0.52% 
  Next $5 billion  0.51% 
  Next $5 billion  0.50% 
  Next $5 billion  0.49% 
  Next $8.5 billion  0.48% 
  Any excess over $55 billion  0.47% 

E-3

Fund  Management Fee Rate   
Putnam Global  First $500 million  0.70% 
Financials Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess thereafter  0.37% 
Putnam Global Health  First $500 million  0.70% 
Care Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess over $21.5 billion  0.43% 
Putnam Global  First $500 million  0.70% 
Income Trust  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam Global  First $500 million  0.70% 
Industrials Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess thereafter  0.37% 
Putnam Global  First $500 million  0.70% 
Natural Resources  Next $500 million  0.60% 
Fund  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam Global  First $500 million  0.70% 
Technology Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess thereafter  0.37% 

Fund  Management Fee Rate   
Putnam Global  First $500 million  0.70% 
Telecommunications  Next $500 million  0.60% 
Fund  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess thereafter  0.37% 
Putnam Global  First $500 million  0.70% 
Utilities Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam Growth  First $500 million  0.70% 
Opportunities Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam High Yield  First $500 million  0.70% 
Advantage Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam High Yield  First $500 million  0.70% 
Trust  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam Income Fund  First $500 million  0.65% 
  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 

E-4

Fund  Management Fee Rate   
Putnam Income  First $500 million  0.65% 
Strategies Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Next $5 billion  0.38% 
  Next $5 billion  0.37% 
  Next $5 billion  0.36% 
  Next $5 billion  0.35% 
  Next $5 billion  0.34% 
  Next $8.5 billion  0.33% 
  Any excess thereafter  0.32% 
Putnam International  First $500 million  1.00% 
Capital Opportunities  Next $500 million  0.90% 
Fund  Next $500 million  0.85% 
  Next $5 billion  0.80% 
  Next $5 billion  0.775% 
  Next $5 billion  0.755% 
  Next $5 billion  0.74% 
  Any excess thereafter  0.73% 
Putnam International  First $500 million  0.80% 
Equity Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess over $21.5 billion  0.53% 
Putnam International  First $500 million  0.80% 
Growth and Income  Next $500 million  0.70% 
Fund  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess over $21.5 billion  0.53% 
Putnam International  First $500 million  1.00% 
New Opportunities  Next $500 million  0.90% 
Fund  Next $500 million  0.85% 
  Next $5 billion  0.80% 
  Next $5 billion  0.775% 
  Next $5 billion  0.755% 
  Next $5 billion  0.74% 
  Any excess thereafter  0.73% 
Putnam Investors  First $500 million  0.65% 
Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess over $21.5 billion  0.38% 
Putnam  The lesser of 0.50%, or   
Massachusetts Tax  First $500 million  0.60% 
Exempt Income Fund  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 

Fund  Management Fee Rate   
Putnam Michigan Tax  The lesser of 0.50%, or   
Exempt Income Fund  First $500 million  0.60% 
  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 
Putnam Mid Cap  First $500 million  0.70% 
Value Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam Minnesota  The lesser of 0.50%, or   
Tax Exempt Income  First $500 million  0.60% 
Fund  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 
Putnam Money  First $100 million  0.50% 
Market Fund  Next $100 million  0.40% 
  Next $300 million  0.35% 
  Next $500 million  0.325% 
  Next $500 million  0.30% 
  Next $2.5 billion  0.275% 
  Next $2.5 billion  0.25% 
  Next $5 billion  0.225% 
  Next $5 billion  0.205% 
  Next $5 billion  0.19% 
  Any excess thereafter  0.18% 
Putnam New Jersey  The lesser of 0.50%, or   
Tax Exempt Income  First $500 million  0.60% 
Fund  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 
Putnam New  First $500 million  0.70% 
Opportunities Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess over $55 billion  0.37% 

E-5

Fund  Management Fee Rate   
Putnam New York Tax  The lesser of 0.50%, or   
Exempt Income Fund  First $500 million  0.60% 
  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 
Putnam Ohio Tax  The lesser of 0.50%, or   
Exempt Income Fund  First $500 million  0.60% 
  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 
Putnam Pennsylvania  The lesser of 0.50%, or   
Tax Exempt Income  First $500 million  0.60% 
Fund  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 
Putnam Research  First $500 million  0.65% 
Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam Small Cap  First $500 million  1.00% 
Growth Fund  Next $500 million  0.90% 
  Next $500 million  0.85% 
  Next $5 billion  0.80% 
  Next $5 billion  0.775% 
  Next $5 billion  0.755% 
  Next $5 billion  0.74% 
  Any excess thereafter  0.73% 
Putnam Small Cap  First $500 million  0.80% 
Value Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess thereafter  0.53% 
Putnam Tax Exempt  The lesser of 0.50%, or   
Income Fund  First $500 million  0.60% 
  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess over $21.5 billion  0.33% 

Fund  Management Fee Rate   
Putnam Tax Exempt  First $500 million  0.45% 
Money Market Fund  Next $500 million  0.35% 
  Next $500 million  0.30% 
  Next $5 billion  0.25% 
  Next $5 billion  0.225% 
  Next $5 billion  0.205% 
  Next $5 billion  0.19% 
  Any excess thereafter  0.18% 
Putnam Tax-Free  The lesser of 0.50%, or   
High Yield Fund  First $500 million  0.60% 
  Next $500 million  0.50% 
  Next $500 million  0.45% 
  Next $5 billion  0.40% 
  Next $5 billion  0.375% 
  Next $5 billion  0.355% 
  Next $5 billion  0.34% 
  Any excess thereafter  0.33% 
Putnam U.S.  First $500 million  0.57% 
Government Income  Next $500 million  0.475% 
Trust  Next $500 million  0.4275% 
  Any excess over $1.5 billion  0.38% 
Putnam Vista Fund  First $500 million  0.65% 
  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess over $21.5 billion  0.38% 
Putnam Voyager  First $500 million  0.70% 
Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Next $5 billion  0.42% 
  Next $5 billion  0.41% 
  Next $5 billion  0.40% 
  Next $5 billion  0.39% 
  Next $8.5 billion  0.38% 
  Any excess over $55 billion  0.37% 
Putnam VT American  First $500 million  0.65% 
Government Income  Next $500 million  0.55% 
Fund  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Next $5 billion  0.38% 
  Next $5 billion  0.37% 
  Next $5 billion  0.36% 
  Next $5 billion  0.35% 
  Any excess thereafter  0.34% 
Putnam VT Capital  First $500 million  0.65% 
Opportunities Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 

E-6

Fund  Management Fee Rate   
Putnam VT  First $500 million  0.70% 
Diversified Income  Next $500 million  0.60% 
Fund  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam VT Equity  First $500 million  0.65% 
Income Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam VT The  First $500 million  0.65% 
George Putnam  Next $500 million  0.55% 
Fund of Boston  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam VT Global  First $500 million  0.70% 
Asset Allocation  Next $500 million  0.60% 
Fund  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam VT Global  First $500 million  0.80% 
Equity Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess thereafter  0.53% 
Putnam VT Global  First $500 million  0.70% 
Health Care Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam VT Global  First $500 million  0.70% 
Utilities Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam VT Growth  First $500 million  0.65% 
and Income Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 

Fund  Management Fee Rate   
Putnam VT Growth  First $500 million  0.70% 
Opportunities Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Next $5 billion  0.43% 
  Any excess thereafter  0.42% 
Putnam VT High  First $500 million  0.70% 
Yield Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam VT Income  First $500 million  0.65% 
Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam VT  First $500 million  0.80% 
International Equity  Next $500 million  0.70% 
Fund  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess thereafter  0.53% 
Putnam VT  First $500 million  0.80% 
International Growth  Next $500 million  0.70% 
and Income Fund  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess thereafter  0.53% 
Putnam VT  First $500 million  1.00% 
International New  Next $500 million  0.90% 
Opportunities Fund  Next $500 million  0.85% 
  Next $5 billion  0.80% 
  Next $5 billion  0.775% 
  Next $5 billion  0.755% 
  Next $5 billion  0.74% 
  Any excess thereafter  0.73% 
Putnam VT Investors  First $500 million  0.65% 
Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam VT Mid Cap  First $500 million  0.70% 
Value Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 

E-7

Fund  Management Fee Rate   
Putnam VT Money  First $500 million  0.45% 
Market Fund  Next $500 million  0.35% 
  Next $500 million  0.30% 
  Next $5 billion  0.25% 
  Next $5 billion  0.225% 
  Next $5 billion  0.205% 
  Next $5 billion and  0.19% 
  Any excess thereafter  0.18% 
Putnam VT New  First $500 million  0.70% 
Opportunities Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 
Putnam VT Research  First $500 million  0.65% 
Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 

Fund  Management Fee Rate   
Putnam VT Small Cap  First $500 million  0.80% 
Value Fund  Next $500 million  0.70% 
  Next $500 million  0.65% 
  Next $5 billion  0.60% 
  Next $5 billion  0.575% 
  Next $5 billion  0.555% 
  Next $5 billion  0.54% 
  Any excess thereafter  0.53% 
Putnam VT Vista  First $500 million  0.65% 
Fund  Next $500 million  0.55% 
  Next $500 million  0.50% 
  Next $5 billion  0.45% 
  Next $5 billion  0.425% 
  Next $5 billion  0.405% 
  Next $5 billion  0.39% 
  Any excess thereafter  0.38% 
Putnam VT Voyager  First $500 million  0.70% 
Fund  Next $500 million  0.60% 
  Next $500 million  0.55% 
  Next $5 billion  0.50% 
  Next $5 billion  0.475% 
  Next $5 billion  0.455% 
  Next $5 billion  0.44% 
  Any excess thereafter  0.43% 

Appendix F — Proposed Fee Schedules

Fund Family Fee Schedules
        Putnam Europe   
        Equity Fund   
        Putnam Global  Putnam Capital 
  Putnam Asia Pacific      Equity Fund  Opportunities Fund 
  Equity Fund      Putnam International  Putnam Convertible 
  Putnam Emerging      Equity Fund  Income-Growth Trust 
  Markets Equity Fund      Putnam International  Putnam Small Cap 
  Putnam International      Growth and Income Fund  Growth Fund 
  Capital Opportunities    Putnam Absolute Return  Putnam VT Global  Putnam Small Cap 
  Fund    500 Fund  Equity Fund  Value Fund 
  Putnam International    Putnam Capital  Putnam VT International  Putnam VT Capital 
Total Open-End  New Opportunities Fund    Spectrum Fund  Equity Fund  Opportunities Fund 
Mutual Fund Average  Putnam VT International  Putnam Absolute Return  Putnam Equity  Putnam VT International  Putnam VT Small Cap 
Net Assets ($B)*  New Opportunities Fund  700 Fund  Spectrum Fund  Growth and Income Fund  Value Fund 
1st 5B  1.080%  1.030%  0.880%  0.850%  0.780% 
Next 5B  1.030%  0.980%  0.830%  0.800%  0.730% 
Next 10B  0.980%  0.930%  0.780%  0.750%  0.680% 
Next 10B  0.930%  0.880%  0.730%  0.700%  0.630% 
Next 50B  0.880%  0.830%  0.680%  0.650%  0.580% 
Next 50B  0.860%  0.810%  0.660%  0.630%  0.560% 
Next 100B  0.850%  0.800%  0.650%  0.620%  0.550% 
Any excess thereafter  0.845%  0.795%  0.645%  0.615%  0.545% 

F-1

Fund Family Fee Schedules
  Putnam Global         
  Consumer Fund         
  Putnam Global         
  Energy Fund         
  Putnam Global         
  Financials Fund         
  Putnam Global Health         
  Care Fund         
  Putnam Global         
  Industrials Fund         
  Putnam Global Natural         
  Resources Fund         
  Putnam Global         
  Technology Fund         
  Putnam Global         
  Telecommunications         
  Fund        Putnam Floating Rate 
  Putnam Global  Putnam Asset Allocation:  Putnam Mid Cap    Income Fund 
  Utilities Fund  Equity Portfolio  Value Fund    Putnam High Yield Trust 
  Putnam VT Global Health  Putnam Asset Allocation:  Putnam Vista Fund    Putnam High Yield 
Total Open-End  Care Fund  Growth Portfolio  Putnam VT Vista Fund    Advantage Fund 
Mutual Fund Average  Putnam VT Global  Putnam VT Global Asset  Putnam VT Mid Cap  Putnam Absolute Return  Putnam VT High 
Net Assets ($B)*  Utilities Fund  Allocation Fund  Value Fund  300 Fund  Yield Fund 
1st 5B  0.780%  0.750%  0.740%  0.730%  0.720% 
Next 5B  0.730%  0.700%  0.690%  0.680%  0.670% 
Next 10B  0.680%  0.650%  0.640%  0.630%  0.620% 
Next 10B  0.630%  0.600%  0.590%  0.580%  0.570% 
Next 50B  0.580%  0.550%  0.540%  0.530%  0.520% 
Next 50B  0.560%  0.530%  0.520%  0.510%  0.500% 
Next 100B  0.550%  0.520%  0.510%  0.500%  0.490% 
Any excess thereafter  0.545%  0.515%  0.505%  0.495%  0.485% 
  Putnam Growth         
  Opportunities Fund         
  Putnam Investors Fund         
  Putnam New         
  Opportunities Fund         
  Putnam Research Fund    Putnam Asset Allocation:     
      Balanced Portfolio     
  Putnam Voyager Fund         
      The George Putnam Fund     
  Putnam VT Investors Fund    of Boston     
  Putnam VT New  Putnam Diversified  Putnam VT The George     
  Opportunities Fund  Income Trust  Putnam Fund of Boston     
  Putnam VT Research Fund  Putnam Global  Putnam Asset Allocation:     
Total Open-End  Putnam VT Growth  Income Trust  Conservative Portfolio     
Mutual Fund Average  Opportunities Fund  Putnam VT Diversified  Putnam Income  Putnam Absolute Return  Putnam Tax-Free High 
Net Assets ($B)*  Putnam VT Voyager Fund  Income Fund  Strategies Fund  100 Fund  Yield Fund 
1st 5B  0.710%  0.700%  0.680%  0.630%  0.630% 
Next 5B  0.660%  0.650%  0.630%  0.580%  0.580% 
Next 10B  0.610%  0.600%  0.580%  0.530%  0.530% 
Next 10B  0.560%  0.550%  0.530%  0.480%  0.480% 
Next 50B  0.510%  0.500%  0.480%  0.430%  0.430% 
Next 50B  0.490%  0.480%  0.460%  0.410%  0.410% 
Next 100B  0.480%  0.470%  0.450%  0.400%  0.400% 
Any excess thereafter  0.475%  0.465%  0.445%  0.395%  0.395% 
  

F-2

Fund Family Fee Schedules
    Putnam AMT-Free     
    Municipal Fund     
    Putnam Arizona Tax     
Exempt Income Fund
Putnam California Tax
Exempt Income Fund
Putnam Massachusetts
Tax Exempt Income Fund
Putnam Michigan Tax
Exempt Income Fund
Putnam Minnesota Tax
Exempt Income Fund
    Putnam New Jersey Tax  Putnam American   
    Exempt Income Fund  Government   
  Putnam Equity  Putnam New York Tax  Income Fund   
  Income Fund  Exempt Income Fund  Putnam Income Fund   
  The Putnam Fund for  Putnam Ohio Tax Exempt  Putnam U.S. Government  Putnam Money 
  Growth and Income  Income Fund  Income Trust  Market Fund 
  Putnam VT Equity  Putnam Pennsylvania Tax  Putnam VT American  Putnam Tax Exempt 
Total Open-End  Income Fund  Exempt Income Fund  Government  Money Market Fund 
Mutual Fund Average  Putnam VT Growth and  Putnam Tax Exempt  Income Fund  Putnam VT Money 
Net Assets ($B)*  Income Fund  Income Fund  Putnam VT Income Fund  Market Fund 
1st 5B  0.630%  0.590%  0.550%  0.440% 
Next 5B  0.580%  0.540%  0.500%  0.390% 
Next 10B  0.530%  0.490%  0.450%  0.340% 
Next 10B  0.480%  0.440%  0.400%  0.290% 
Next 50B  0.430%  0.390%  0.350%  0.240% 
Next 50B  0.410%  0.370%  0.330%  0.220% 
Next 100B  0.400%  0.360%  0.320%  0.210% 
Any excess thereafter  0.395%  0.355%  0.315%  0.205% 

* “Total Open-End Mutual Fund Average Net Assets” means the average of all of the determinations of the aggregate net assets of all open-end funds sponsored by Putnam Management (excluding Putnam RetirementReady Funds and Putnam Money Market Liquidity Fund) at the close of business on each business day during each month while the Management Contract is in effect.

Putnam Absolute Return 100 Fund  Benchmark: Merrill Lynch US  Putnam Absolute Return 300 Fund  Benchmark: Merrill Lynch US 
  Treasury Bill Index (G0BA)    Treasury Bill Index (G0BA) 
  Hurdle: 1.00%    Hurdle: 3.00% 
  Maximum Performance Adjustment    Maximum Performance Adjustment 
  Rate: 0.04%    Rate: 0.12% 
  Minimum Performance Adjustment    Minimum Performance Adjustment 
  Rate: -0.04%    Rate: -0.12% 
Putnam Absolute Return 500 Fund  Benchmark: Merrill Lynch US  Putnam Absolute Return 700 Fund  Benchmark: Merrill Lynch US 
  Treasury Bill Index (G0BA)    Treasury Bill Index (G0BA) 
  Hurdle: 5.00%    Hurdle: 7.00% 
  Maximum Performance Adjustment    Maximum Performance Adjustment 
  Rate: 0.20%    Rate: 0.28% 
  Minimum Performance Adjustment    Minimum Performance Adjustment 
  Rate: -0.20%    Rate: -0.28% 
Putnam Capital Spectrum Fund  Benchmark: 50/50 blend (balanced  Putnam Equity Spectrum Fund  Benchmark: S&P 500 Index 
  daily) of S&P 500 Index and JP    Maximum Performance Adjustment 
  Morgan Developed High Yield Index    Rate: 0.40% 
  Maximum Performance Adjustment    Minimum Performance Adjustment 
  Rate: 0.32%    Rate: -0.40% 
  Minimum Performance Adjustment     
  Rate: -0.32%     

F-3

Appendix G — Proposed Benchmarks

    Proposed Maximum Annualized 
Fund Name  Proposed Benchmark  Performance Adjustment Rate 
Putnam Asia Pacific Equity Fund  Morgan Stanley Capital International (MSCI) All Country (AC)  0.21% 
  Asia Pacific Index (Net Dividends)*   
Putnam Emerging Markets Equity Fund  Morgan Stanley Capital International (MSCI) Emerging Markets  0.21% 
  (EM) Index (Net Dividends)*   
Putnam Europe Equity Fund  Morgan Stanley Capital International (MSCI) Europe Index (Net  0.15% 
  Dividends)*   
Putnam Global Equity Fund  Morgan Stanley Capital International (MSCI) World Index (Net  0.15% 
  Dividends)*   
Putnam Growth Opportunities Fund  Russell 1000 Growth Index  0.12% 
Putnam International Capital Opportunities Fund  S&P Developed/Ex-U.S. SmallCap Index  0.21% 
Putnam International Equity Fund  Morgan Stanley Capital International (MSCI) EAFE Index (Net  0.15% 
  Dividends)*   
Putnam International Growth and Income Fund  S&P Developed/Ex-U.S. LargeMidCap Value Index  0.15% 
Putnam International New Opportunities Fund  Morgan Stanley Capital International (MSCI) EAFE Growth Index  0.21% 
  (Net Dividends)*   
Putnam New Opportunities Fund  Russell 3000 Growth Index  0.12% 
Putnam Small Cap Growth Fund  Russell 2000 Growth Index  0.18% 
Putnam Vista Fund  Russell Midcap Growth Index  0.12% 
Putnam Voyager Fund  Russell 1000 Growth Index  0.12% 

* Morgan Stanley Capital International (MSCI) publishes two versions of these indices reflecting the reinvestment of dividends using two different methodologies: gross dividends and net dividends. While both versions reflect reinvested dividends, they differ with respect to the manner in which taxes associated with dividends payments are treated. In calculating the net dividends version, MSCI incorporates reinvested dividends applying the withholding tax rate applicable to foreign non-resident institutional investors that do not benefit from double taxation treaties. Putnam Management believes that the net dividends version better reflects the returns U.S. investors might expect were they to invest directly in the component securities of each index.

Appendix H — Funds Proposed to Change to Monthly Management Fees

Putnam American Government Income Fund
Putnam Arizona Tax Exempt Income Fund
Putnam Asset Allocation: Balanced Portfolio
Putnam Asset Allocation: Conservative Portfolio
Putnam Asset Allocation: Growth Portfolio
Putnam California Tax Exempt Income Fund
Putnam Capital Opportunities Fund
Putnam Convertible Income-Growth Trust
Putnam Diversified Income Trust
Putnam Equity Income Fund
Putnam Europe Equity Fund
Putnam Fund for Growth and Income
Putnam The George Putnam Fund of Boston
Putnam Global Health Care Fund
Putnam Global Income Trust
Putnam Global Utilities Fund
Putnam Growth Opportunities Fund
Putnam High Yield Advantage Fund
Putnam High Yield Trust
Putnam Income Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam International Growth and Income Fund
Putnam International New Opportunities Fund
Putnam Investors Fund
Putnam Massachusetts Tax Exempt Income Fund
Putnam Michigan Tax Exempt Income Fund
Putnam Mid Cap Value Fund
Putnam Minnesota Tax Exempt Income Fund
Putnam Money Market Fund
Putnam New Jersey Tax Exempt Income Fund
Putnam New Opportunities Fund
Putnam New York Tax Exempt Income Fund
Putnam Ohio Tax Exempt Income Fund
Putnam Pennsylvania Tax Exempt Income Fund
Putnam Research Fund
Putnam Small Cap Growth Fund
Putnam Small Cap Value Fund
Putnam Tax Exempt Income Fund
Putnam Tax Exempt Money Market Fund
Putnam U.S. Government Income Trust
Putnam Vista Fund
Putnam Voyager Fund
Putnam VT American Government Income Fund
Putnam VT Diversified Income Trust
Putnam VT The George Putnam Fund of Boston
Putnam VT Global Asset Allocation Fund
Putnam VT Global Equity Fund

G/H-1

Putnam VT Global Health Care Fund
Putnam VT Global Utilities Fund
Putnam VT Growth and Income Fund
Putnam VT Growth Opportunities Fund
Putnam VT High Yield Fund
Putnam VT Income Fund
Putnam VT International Equity Fund
Putnam VT International Growth and Income Fund
Putnam VT International New Opportunities Fund
Putnam VT Investors Fund
Putnam VT Money Market Fund
Putnam VT New Opportunities Fund
Putnam VT Research Fund
Putnam VT Small Cap Value Fund
Putnam VT Vista Fund
Putnam VT Voyager Fund

Appendix I — Description of Contract Approval Process

Previous approval of management contracts

The approval by the Trustees in July 2009 of the proposed management contracts for your funds was preceded in June 2009 by their approval of the continuance of the current management contracts. The discussion below summarizes the principal factors considered by the Trustees in approving the continuance of the current management contracts in June 2009.

General conclusions

The Board of Trustees of the Putnam funds oversees the management of each fund and, as required by law, determines annually whether to approve the continuance of the funds’ management contracts with Putnam Investment Management (“Putnam Management”), and with respect to certain funds, the sub-management contracts between Putnam Management and its affiliate, Putnam Investments Limited (“PIL”), and the sub-advisory contracts among Putnam Management, PIL and another affiliate, Putnam Advisory Company (“PAC”).

In this regard, the Board of Trustees, with the assistance of its Contract Committee consisting solely of Trustees who are not “interested persons” (as such term is defined in the Investment Company Act of 1940, as amended) of the Putnam funds (the “Independent Trustees”), requests and evaluates all information it deems reasonably necessary under the circumstances. Over the course of several months ending in June 2009, the Contract Committee met several times to consider the information provided by Putnam Management and other information developed with the assistance of the Board’s independent counsel and independent staff. The Contract Committee reviewed and discussed key aspects of this information with all of the Independent Trustees. At the Trustees’ June 12, 2009 meeting, the Contract Committee recommended, and the Independent Trustees approved, the continuance of each fund’s management contracts — and with respect to cer tain funds, sub-management contracts and sub-advisory contracts — effective July 1, 2009. (Because PIL and PAC are affiliates of Putnam Management and Putnam Management remains fully responsible for all services provided by PIL and PAC, the Trustees have not evaluated PIL and PAC as separate entities, except as otherwise indicated below, and all subsequent references to Putnam Management below should be deemed to include reference to PIL and PAC as necessary or appropriate in the context.)

The Independent Trustees’ approval was based on the following conclusions:

• That the fee schedules in effect for the funds represented reasonable compensation in light of the nature and quality of the services being provided to the funds, the fees paid by competitive funds and the costs incurred by Putnam Management in providing such services, and

• That such fee schedules represented an appropriate sharing between fund shareholders and Putnam Management of such economies of scale as may exist in the management of the funds at current asset levels.

These conclusions were based on a comprehensive consideration of all information provided to the Trustees, were subject to the continued application of certain expense reductions and waivers pending other considerations noted below, and were not the result of any single factor. Some of the factors that figured particularly in the Trustees’ deliberations and how the Trustees considered these factors are described below, although individual Trustees may have evaluated the information presented differently, giving different weights to various factors. It is also important to recognize that the fee arrangements for the funds are the result of many years of review and discussion between the Independent Trustees and Putnam Management, that certain aspects of the arrangements may receive greater scrutiny in some years than others, and that the Trustees’ conclusions may be based, in part, on their consideration of these same arrangements in prior years.

Consideration of strategic pricing proposal

The Trustees considered that the Contract Committee had been engaged in a detailed review of Putnam Management’s strategic pricing proposal that was first presented to the Committee at its May 2009 meeting. The proposal included proposed changes to the basic structure of the management fees in place for all open-end funds (except the Putnam RetirementReady® Funds and Putnam Money Market Liquidity Fund) including implementation of a breakpoint structure based on the aggregate net assets of all such funds in lieu of the individual breakpoint structures in place for each fund, as well as implementation of performance fees for certain funds. In addition, the proposal recommended substituting separate expense limitations on investor servicing fees and on other expenses as a group in lieu of the total expense limitations in place for many funds.

I-1

While the Contract Committee noted the likelihood that the Trustees and Putnam Management would reach agreement on the strategic pricing matters in later months, the terms of the management contracts required that the Trustees approve the continuance of the contracts in order to prevent their expiration at June 30, 2009. The Contract Committee’s recommendations in June reflect its conclusion that the terms of the contractual arrangements for each fund continued to be appropriate for the upcoming term, absent any possible agreement with respect to the matters addressed in Putnam Management’s proposal.

The Trustees were mindful of the significant changes that had occurred at Putnam Management in the past two years, including a change of ownership, the installation of a new senior management team at Putnam Management, the substantial decline in assets under management resulting from extraordinary market forces as well as continued net redemptions in many funds, the introduction of new fund products representing novel investment strategies and the introduction of performance fees for certain new funds. The Trustees were also mindful that many other leading firms in the industry had also been experiencing significant challenges due to the changing financial and competitive environment. For these reasons, even though the Trustees believed that the current contractual arrangements in place between the funds and Putnam Management and its affiliates have served shareholders well and continued to be appropriate for the near term, the Trustees believed that it was an appro priate time to reconsider the current structure of the funds’ contractual arrangements with Putnam Management with a view to possible changes that might better serve the interests of shareholders in this new environment. The Trustees concluded their review of Putnam Management’s strategic pricing proposal in July 2009. The following discussion generally addresses only the Trustees’ reasons for recommending the continuance of the current contractual arrangements as, at the time the Trustees determined to make this recommendation, the Trustees had not yet reached any conclusions with respect to the strategic pricing proposal.

Management fee schedules and categories; total expenses

The Trustees reviewed the management fee schedules in effect for all Putnam funds, including fee levels and breakpoints, and the assignment of funds to particular fee categories. The general fee structure has been carefully developed over the years and re-examined on many occasions and adjusted where appropriate. In this regard, the Trustees noted that shareholders of all funds voted by overwhelming majorities in 2007 to approve new management contracts containing identical fee schedules.

In reviewing fees and expenses, the Trustees generally focused their attention on material changes in circumstances — for example, changes in a fund’s size or investment style, changes in Putnam Management’s operating costs, or changes in competitive practices in the mutual fund industry — that suggest that consideration of fee changes might be warranted. The Trustees concluded that the circumstances did not warrant changes to the management fee structure of the funds at that time but, as indicated above, based on their detailed review of the current fee structure, were prepared to consider possible changes to these arrangements that might better serve the interests of shareholders in the future. The Trustees focused on two areas of particular interest, as discussed further below:

• Competitiveness. The Trustees reviewed comparative fee and expense information for competitive funds, which indicated that, in a custom peer group of competitive funds selected by Lipper Inc., each fund ranked in particular percentiles in management fees and total expenses (less any applicable 12b-1 fees for open-end funds, and excluding charges and expenses at the insurance company separate account level for the funds of Putnam Variable Trust) as of December 31, 2008 (the first percentile being the least expensive funds and the 100th percentile being the most expensive funds), as indicated on Schedule A.

(Because the funds’ custom peer groups are smaller than the funds’ broad Lipper Inc. peer groups, this expense information may differ from the Lipper peer expense information found elsewhere.) The Trustees noted that expense ratios for a number of Putnam funds, which show the percentage of fund assets used to pay for management and administrative services, distribution (12b-1) fees and other expenses, had been increasing recently as a result of declining net assets and the natural operation of fee breakpoints. With respect to all funds, the Trustees expressed their intention to monitor the funds’ percentile rankings in management fees and in total expenses to ensure that fees and expenses of the funds continue to meet evolving competitive standards.

With respect to the open-end funds, the Trustees noted that the expense ratio increases described above were being controlled by expense limitations initially implemented in January 2004. These expense limitations give effect to a commitment by Putnam Management that the expense ratio of each open-end fund would be no higher than the average expense ratio of the competitive funds included in the fund’s relevant Lipper universe (exclusive of any applicable 12b-1 charges in each case). The Trustees observed that this commitment to limit fund expenses has served shareholders well since its inception and, while the Contract Committee was reviewing proposed alternative expense limitation arrangements as noted above, the Trustees received a commitment from Putnam Management and its parent company to continue this program through at least June 30, 2010, or such earlier time as the Trustees and Putnam Management reach agreement on alternative arrangements.

In order to ensure that the expenses of the Putnam funds continue to meet evolving competitive standards, the Trustees requested, and Putnam Management agreed, to extend for the twelve months beginning July 1, 2009, or until such earlier time as the Trustees and Putnam Management reach agreement on alternative expense limitation arrangements, an additional expense limitation for certain funds at an amount equal to the average expense ratio (exclusive of 12b-1 charges) of a custom peer group of competitive funds selected by Lipper to correspond to the size

I-2

of the fund. This additional expense limitation will be applied to those open-end funds that had above-average expense ratios (exclusive of 12b-1 charges) based on the custom peer group data for the period ended December 31, 2007.

• Economies of scale. Most funds currently have the benefit of breakpoints in their management fee that provide shareholders with significant economies of scale, which means that the effective management fee rate of a fund (as a percentage of fund assets) declines as a fund grows in size and crosses specified asset thresholds. Conversely, as a fund shrinks in size — as has been the case for many Putnam open-end funds in recent years — these breakpoints result in increasing fee levels. In recent years, the Trustees have examined the operation of the existing breakpoint structure during periods of both growth and decline in asset levels. The Trustees concluded that the fee schedules in effect for the funds represented an appropriate sharing of economies of scale at that time but, as noted above, were in the process of reviewing a proposal to eliminate individual fund b reakpoints for all open-end funds (except the Putnam RetirementReady® Funds and Putnam Money Market Liquidity Fund) in favor of a breakpoint structure based on the aggregate net assets of all such funds.

In connection with their review of the management fees and total expenses of the Putnam funds, the Trustees also reviewed the costs of the services provided and profits realized by Putnam Management and its affiliates from their contractual relationships with the funds. This information included trends in revenues, expenses and profitability of Putnam Management and its affiliates relating to the investment management and distribution services provided to the funds. In this regard, the Trustees also reviewed an analysis of Putnam Management’s revenues, expenses and profitability with respect to the funds’ management contracts, allocated on a fund-by-fund basis.

Investment performance

The quality of the investment process provided by Putnam Management represented a major factor in the Trustees’ evaluation of the quality of services provided by Putnam Management under the funds’ management contract. The Trustees were assisted in their review of the Putnam funds’ investment process and performance by the work of the Investment Oversight Coordinating Committee of the Trustees and the Investment Oversight Committees of the Trustees, which had met on a regular monthly basis with the funds’ portfolio teams throughout the year. The Trustees concluded that Putnam Management generally provides a high-quality investment process — as measured by the experience and skills of the individuals assigned to the management of fund portfolios, the resources made available to such personnel, and in general the ability of Putnam Management to attract and retain high-quality personnel — but also recognized that this does not guarantee fav orable investment results for every fund in every time period. The Trustees considered the investment performance of each fund over multiple time periods and considered information comparing each fund’s performance with various benchmarks and with the performance of competitive funds.

The Trustees noted the disappointing investment performance of many of the funds for periods ended March 31, 2009. They discussed with senior management of Putnam Management the factors contributing to such underperformance and the actions being taken to improve performance. The Trustees recognized that, in recent years, Putnam Management has taken steps to strengthen its investment personnel and processes to address areas of underperformance, including Putnam Management’s continuing efforts to strengthen the equity research function, recent changes in portfolio managers including increased accountability of individual managers rather than teams, recent changes in Putnam Management’s approach to incentive compensation, including emphasis on top quartile performance over a rolling three-year period, and the recent arrival of a new chief investment officer. The Trustees also recognized the substantial improvement in performance of many funds since the implem entation of those changes. The Trustees indicated their intention to continue to monitor performance trends to assess the effectiveness of these efforts and to evaluate whether additional changes to address areas of underperformance are warranted.

In the case of each open-end fund, the Trustees considered that each fund’s class A (and class IA in the case of Putnam Variable Trust) share cumulative total return performance at net asset value was in particular percentiles of its Lipper Inc. peer group for the one-year, three-year and five-year periods ended March 31, 2009 (the first percentile being the best-performing funds and the 100th percentile being the worst-performing funds), as indicated on Schedule B. Past performance is not a guarantee of future returns.

The Trustees noted the disappointing performance for certain of the Putnam funds, as well as certain circumstances that may have contributed to that performance and the actions taken by Putnam Management to address these funds’ performance. The Trustees also considered the four broad initiatives that Putnam Management has implemented to improve its investment approach, to reduce the likelihood of fourth quartile results, and to deliver on its long-term investment goals. Specifically, Putnam Management has:

1. Increased accountability and reduced complexity in the portfolio management process for the Putnam equity funds by replacing a team management structure with a decision-making process that vests full authority and responsibility with individual portfolio managers;

2. Clarified Putnam Management’s investment process by affirming a fundamental-driven approach to investing, with quantitative analysis providing additional input for investment decisions;

3. Strengthened Putnam Management’s large-cap equity research capability by adding multiple new investment personnel to the team and by bringing U.S. and international research under common leadership; and

I-3

4. Realigned compensation structure for portfolio managers and research analysts so that only those who achieve top-quartile returns over a rolling three-year basis are eligible for full bonuses.

As a general matter, the Trustees believe that cooperative efforts between the Trustees and Putnam Management represent the most effective way to address investment performance problems. The Trustees noted that investors in the Putnam funds have, in effect, placed their trust in the Putnam organization, under the oversight of the funds’ Trustees, to make appropriate decisions regarding the management of the funds. Based on the responsiveness of Putnam Management in the recent past to Trustee concerns about investment performance, the Trustees concluded that it is preferable to seek change within Putnam Management to address performance shortcomings. In the Trustees’ view, the alternative of engaging a new investment adviser for an underperforming fund would entail significant disruptions and would not provide any greater assurance of improved investment performance.

Brokerage and soft-dollar allocations; other benefits

The Trustees considered various potential benefits that Putnam Management may receive in connection with the services it provides under the management contracts with the funds. These include benefits related to brokerage and soft-dollar allocations, whereby a portion of the commissions paid by a fund for brokerage may be used to acquire research services that may be useful to Putnam Management in managing the assets of the fund and of other clients. The Trustees considered a change made, at Putnam Management’s request, to the Putnam funds’ brokerage allocation policy commencing in 2009, which increased the permitted soft dollar allocation to third-party services over what had been authorized in previous years. The Trustees noted that a portion of available soft dollars continue to be allocated to the payment of fund expenses, although the amount allocated for this purpose has declined in recent years. The Trustees indicated their continued intent to monito r regulatory developments in this area with the assistance of their Brokerage Committee and also indicated their continued intent to monitor the potential benefits associated with the allocation of fund brokerage and trends in industry practice to ensure that the principle of seeking best price and execution remains paramount in the portfolio trading process.

The Trustees’ annual review of the funds’ management contracts also included the review of the investor servicing agreements with Putnam Investor Services, Inc. (“PSERV”) (in the case of the open-end funds) and Putnam Fiduciary Trust Company (“PFTC”) (in the case of the closed-end funds) which agreements provide benefits to affiliates of Putnam Management. The Trustees considered that effective January 1, 2009, the Trustees, PSERV and PFTC entered into a new fee schedule that includes for the open-end funds (other than funds of Putnam Variable Trust and Putnam Money Market Liquidity Fund) an expense limitation but, as noted above, also considered that this expense limitation is subject to review as part of the Trustees’ pending review of Putnam’s strategic pricing proposal.

In the case of the open-end funds, the Trustees’ annual review of the funds’ management contracts also included the review of the funds’ distributor’s contracts and distribution plans with Putnam Retail Management Limited Partnership, which contracts and plans also provide benefits to an affiliate of Putnam Management.

Comparison of retail and institutional fee schedules

The information examined by the Trustees as part of their annual contract review has included for many years information regarding fees charged by Putnam Management and its affiliates to institutional clients such as defined benefit pension plans, college endowments, etc. This information included comparisons of such fees with fees charged to the funds, as well as a detailed assessment of the differences in the services provided to these two types of clients. The Trustees observed, in this regard, that the differences in fee rates between institutional clients and mutual funds are by no means uniform when examined by individual asset sectors, suggesting that differences in the pricing of investment management services to these types of clients reflect to a substantial degree historical competitive forces operating in separate market places. The Trustees considered the fact that fee rates across different asset classes are typically higher on average for mutual funds than for institutional clients, as well as the differences between the services that Putnam Management provides to the Putnam funds and those that it provides to institutional clients of the firm, but did not rely on such comparisons to any significant extent in concluding that the management fees paid by your fund are reasonable.

Schedule A

The funds ranked in the following percentiles in management fees and total expenses (less any applicable 12b-1 fees for open-end funds, and excluding charges and expenses at the insurance company separate account level for the funds of Putnam Variable Trust) as of December 31, 2008 (the first percentile being the least expensive funds and the 100th percentile being the most expensive funds):

  Actual   
  Management  Total 
  Fee  Expenses 
  (percentile rank)  (percentile rank) 
Putnam Absolute Return 100 Fund  N/A  N/A 
Putnam Absolute Return 300 Fund  N/A  N/A 
Putnam Absolute Return 500 Fund  N/A  N/A 
Putnam Absolute Return 700 Fund  N/A  N/A 
Putnam American Government  46th  42nd 
Income Fund     
Putnam AMT-Free Municipal Fund  76th  52nd 
Putnam Arizona Tax Exempt Income  17th  67th 
Fund     
Putnam Asset Allocation: Balanced  34th  31st 
Portfolio     

I-4

  Actual   
  Management  Total 
  Fee  Expenses 
  (percentile rank)  (percentile rank) 
Putnam Asset Allocation:  71st  59th 
Conservative Portfolio     
Putnam Asset Allocation: Growth  35th  50th 
Portfolio     
Putnam California Tax Exempt  58th  38th 
Income Fund     
Putnam Capital Opportunities Fund  7th  24th 
Putnam Convertible Income-Growth  50th  21st 
Trust     
Putnam Diversified Income Trust  56th  40th 
Putnam Emerging Markets Equity  N/A  N/A 
Fund     
Putnam Equity Income Fund  7th  21st 
Putnam Europe Equity Fund  40th  40th 
Putnam Floating Rate Income Fund  80th  33rd 
The Putnam Fund for Growth  14th  28th 
and Income     
The George Putnam Fund of Boston  38th  45th 
Putnam Global Consumer Fund  N/A  N/A 
Putnam Global Energy Fund  N/A  N/A 
Putnam Global Equity Fund  19th  29th 
Putnam Global Financials Fund  N/A  N/A 
Putnam Global Health Care Fund  15th  22nd 
Putnam Global Income Trust  10th  48th 
Putnam Global Industrials Fund  N/A  N/A 
Putnam Global Natural Resources  28th  20th 
Fund     
Putnam Global Telecommunications  N/A  N/A 
Fund     
Putnam Global Technology Fund  N/A  N/A 
Putnam Global Utilities Fund  67th  40th 
Putnam Growth Opportunities Fund  10th  52nd 
Putnam High Income Securities Fund  1st  1st 
Putnam High Yield Advantage Fund  90th  55th 
Putnam High Yield Trust  66th  41st 
Putnam Income Fund  31st  38th 
Putnam Income Strategies Fund  1st  1st 
Putnam International Capital  34th  21st 
Opportunities Fund     
Putnam International Equity Fund  10th  3rd 
Putnam International Growth and  31st  28th 
Income Fund     
Putnam International New  24th  62nd 
Opportunities Fund     
Putnam Investors Fund  28th  62nd 
Putnam Managed Municipal Income  33rd  50th 
Trust     
Putnam Massachusetts Tax Exempt  58th  42nd 
Income Fund     
Putnam Master Intermediate Income  67th  33rd 
Trust     
Putnam Michigan Tax Exempt  43rd  57th 
Income Fund     
Putnam Mid Cap Value Fund  21st  45th 

  Actual   
  Management  Total 
  Fee  Expenses 
  (percentile rank)  (percentile rank) 
Putnam Minnesota Tax Exempt  33rd  67th 
Income Fund     
Putnam Money Market Fund  34th  59th 
Putnam Municipal Opportunities Trust  50th  57th 
Putnam New Jersey Tax Exempt  58th  83rd 
Income Fund     
Putnam New Opportunities Fund  10th  34th 
Putnam New York Tax Exempt  65th  35th 
Income Fund     
Putnam Ohio Tax Exempt Income  58th  50th 
Fund     
Putnam Pennsylvania Tax Exempt  67th  53rd 
Income Fund     
Putnam Premier Income Trust  67th  1st 
Putnam Research Fund  24th  62nd 
Putnam RetirementReady Maturity  86th  36th 
Fund*     
Putnam RetirementReady 2010 Fund*  88th  25th 
Putnam RetirementReady 2015 Fund*  90th  30th 
Putnam RetirementReady 2020 Fund*  92nd  62nd 
Putnam RetirementReady 2025 Fund*  88th  63rd 
Putnam RetirementReady 2030 Fund*  92nd  50th 
Putnam RetirementReady 2035 Fund*  89th  44th 
Putnam RetirementReady 2040 Fund*  89th  67th 
Putnam RetirementReady 2045 Fund*  99th  83rd 
Putnam RetirementReady 2050 Fund*  99th  67th 
Putnam Small Cap Growth Fund  38th  45th 
Putnam Small Cap Value Fund  34th  55th 
Putnam Tax Exempt Income Fund  90th  72nd 
Putnam Tax Exempt Money  8th  63rd 
Market Fund     
Putnam Tax-Free High Yield Fund  38th  24th 
Putnam U.S. Government Income  69th  54th 
Trust     
Putnam Vista Fund  10th  14th 
Putnam Voyager Fund  17th  55th 
Putnam VT American Government  19th  56th 
Income Fund     
Putnam VT Capital Opportunities  3rd  52nd 
Fund     
Putnam VT Diversified Income Fund  21st  50th 
Putnam VT Equity Income Fund  22nd  22nd 
Putnam VT The George Putnam Fund  58th  46th 
of Boston     
Putnam VT Global Asset Allocation  48th  48th 
Fund     
Putnam VT Global Equity Fund  32nd  37th 
Putnam VT Global Health Care Fund  25th  6th 
Putnam VT Global Utilities Fund  50th  38th 
Putnam VT Growth and Income Fund  7th  3rd 
Putnam VT Growth Opportunities  1st  21st 
Fund     
Putnam VT High Yield Fund  52nd  28th 

I-5

  Actual   
  Management  Total 
  Fee  Expenses 
  (percentile rank)  (percentile rank) 
Putnam VT Income Fund  39th  36th 
Putnam VT International Equity Fund  41st  34th 
Putnam VT International Growth and  34th  17th 
Income Fund     
Putnam VT International New  72nd  66th 
Opportunities Fund     
Putnam VT Investors Fund  38th  38th 
Putnam VT Mid Cap Value Fund  11th  44th 
Putnam VT Money Market Fund  38th  48th 

  Actual   
  Management  Total 
  Fee  Expenses 
  (percentile rank)  (percentile rank) 
Putnam VT New Opportunities Fund  33rd  25th 
Putnam VT Research Fund  14th  45th 
Putnam VT Small Cap Value Fund  48th  55th 
Putnam VT Vista Fund  14th  24th 
Putnam VT Voyager Fund  34th  41st 

* For these funds, the Actual Management Fee percentile rankings are for the parent-level management fees only, while the Total Expenses percentile rankings include the expenses of the underlying funds.

Schedule B

Each fund’s class A (and class IA in the case of Putnam Variable Trust) share cumulative total return performance at net asset value was in the following percentiles of its Lipper Inc. peer group for the one-year, three-year and five-year periods ended March 31, 2009 (the first percentile being the best-performing funds and the 100th percentile being the worst-performing funds)1 :

  One-year period percentile rank  Three-year period percentile rank  Five-year period percentile rank 
Fund  (# of funds in category)  (# of funds in category)  (# of funds in category) 
Putnam Absolute Return 100 Fund †  N/A  N/A  N/A 
Putnam Absolute Return 300 Fund †  N/A  N/A  N/A 
Putnam Absolute Return 500 Fund †  N/A  N/A  N/A 
Putnam Absolute Return 700 Fund †  N/A  N/A  N/A 
Putnam American Government Income Fund  78th (156)  49th (142)  51st (124) 
Putnam AMT-Free Municipal Fund  20th (240)  17th (214)  25th (205) 
Putnam Arizona Tax Exempt Income Fund  35th (32)  28th (27)  37th (26) 
Putnam Asset Allocation: Balanced Portfolio  87th (522)  89th (391)  83rd (289) 
Putnam Asset Allocation: Conservative Portfolio  77th (433)  82nd (336)  82nd (201) 
Putnam Asset Allocation: Growth Portfolio  92nd (682)  90th (542)  77th (449) 
Putnam California Tax Exempt Income Fund  51st (121)  40th (110)  44th (101) 
Putnam Capital Opportunities Fund  38th (760)  62nd (608)  47th (484) 
Putnam Convertible Income-Growth Trust  71st (73)  65th (63)  64th (60) 
Putnam Diversified Income Trust  95th (148)  94th (109)  93rd (95) 
Putnam Emerging Markets Equity Fund †  N/A  N/A  N/A 
Putnam Equity Income Fund  14th (296)  28th (235)  28th (182) 
Putnam Europe Equity Fund  43rd (113)  56th (96)  66th (89) 
Putnam Floating Rate Income Fund  56th (93)  33rd (54)  N/A (25) 
The Putnam Fund for Growth and Income  35th (589)  87th (498)  91st (415) 
The George Putnam Fund of Boston  97th (848)  95th (673)  95th (522) 
Putnam Global Consumer Fund †  N/A  N/A  N/A 
Putnam Global Energy Fund †  N/A  N/A  N/A 
Putnam Global Equity Fund  92nd (59)  92nd (57)  77th (54) 
Putnam Global Financials Fund †  N/A  N/A  N/A 
Putnam Global Health Care Fund † †  22nd (118)  61st (102)  44th (90) 
Putnam Global Income Trust  87th (121)  81st (96)  83rd (88) 
Putnam Global Industrials Fund †  N/A  N/A  N/A 
Putnam Global Natural Resources Fund † †  54th (97)  60th (65)  67th (47) 
Putnam Global Telecommunications Fund †  N/A  N/A  N/A 
Putnam Global Technology Fund †  N/A  N/A  N/A 
Putnam Global Utilities Fund † †  26th (101)  22nd (91)  50th (70) 
Putnam Growth Opportunities Fund  6th (798)  32nd (684)  57th (573) 

1 In the case of each closed-end fund, the Trustees considered the same Lipper peer group information for the fund’s common share cumulative total return performance at net asset value. In the case of the tax-exempt funds, the funds’ total return performance was compared against the Lipper peer group performance information using tax-adjusted performance to recognize the different federal income tax treatment for capital gains distributions and exempt-income distributions.

I-6

  One-year period percentile rank  Three-year period percentile rank  Five-year period percentile rank 
Fund  (# of funds in category)  (# of funds in category)  (# of funds in category) 
Putnam High Income Securities Fund  25th (11)  30th (9)  30th (9) 
Putnam High Yield Advantage Fund  36th (460)  19th (389)  14th (335) 
Putnam High Yield Trust  56th (460)  50th (389)  40th (335) 
Putnam Income Fund  92nd (162)  83rd (155)  79th (140) 
Putnam Income Strategies Fund  97th (433)  95th (336)  N/A 
Putnam International Capital Opportunities Fund  55th (67)  34th (41)  30th (39) 
Putnam International Equity Fund  68th (282)  68th (241)  70th (214) 
Putnam International Growth and Income Fund  78th (93)  78th (62)  79th (54) 
Putnam International New Opportunities Fund  20th (107)  22nd (89)  21st (73) 
Putnam Investors Fund  44th (885)  94th (763)  86th (638) 
Putnam Managed Municipal Income Trust  37th (108)  33rd (84)  66th (77) 
Putnam Massachusetts Tax Exempt Income Fund  38th (44)  16th (39)  18th (38) 
Putnam Master Intermediate Income Trust  86th (6)  86th (6)  86th (6) 
Putnam Michigan Tax Exempt Income Fund  57th (26)  26th (20)  36th (20) 
Putnam Mid Cap Value Fund  81st (360)  83rd (292)  74th (218) 
Putnam Minnesota Tax Exempt Income Fund  25th (39)  34th (34)  33rd (32) 
Putnam Money Market Fund  11th (320)  9th (297)  10th (279) 
Putnam Municipal Opportunities Trust  72nd (59)  62nd (59)  70th (58) 
Putnam New Jersey Tax Exempt Income Fund  23rd (47)  19th (37)  25th (36) 
Putnam New Opportunities Fund  19th (489)  64th (378)  59th (315) 
Putnam New York Tax Exempt Income Fund  62nd (97)  35th (90)  34th (90) 
Putnam Ohio Tax Exempt Income Fund  40th (40)  27th (35)  33rd (34) 
Putnam Pennsylvania Tax Exempt Income Fund  41st (59)  25th (49)  25th (48) 
Putnam Premier Income Trust  72nd (6)  72nd (6)  72nd (6) 
Putnam Research Fund  20th (885)  78th (763)  83rd (638) 
Putnam RetirementReady Maturity Fund  87th (433)  90th (336)  N/A 
Putnam RetirementReady 2010 Fund  38th (179)  65th (94)  N/A 
Putnam RetirementReady 2015 Fund  29th (118)  54th (42)  N/A 
Putnam RetirementReady 2020 Fund  45th (159)  63rd (78)  N/A 
Putnam RetirementReady 2025 Fund  37th (103)  50th (31)  N/A 
Putnam RetirementReady 2030 Fund  36th (152)  61st (75)  N/A 
Putnam RetirementReady 2035 Fund  38th (98)  50th (27)  N/A 
Putnam RetirementReady 2040 Fund  26th (144)  67th (68)  N/A 
Putnam RetirementReady 2045 Fund  42nd (89)  40th (19)  N/A 
Putnam RetirementReady 2050 Fund  34th (106)  69th (15)  N/A 
Putnam Small Cap Growth Fund  82nd (593)  91st (506)  82nd (413) 
Putnam Small Cap Value Fund  84th (329)  92nd (280)  90th (218) 
Putnam Tax Exempt Income Fund  60th (240)  41st (214)  35th (205) 
Putnam Tax Exempt Money Market Fund  55th (102)  45th (91)  41st (81) 
Putnam Tax-Free High Yield Fund  35th (108)  28th (84)  29th (77) 
Putnam U.S. Government Income Trust  93rd (64)  92nd (58)  87th (57) 
Putnam Vista Fund  85th (564)  96th (488)  91st (400) 
Putnam Voyager Fund  4th (798)  49th (684)  61st (573) 
Putnam VT American Government Income Fund  52nd (71)  32nd (62)  68th (55) 
Putnam VT Capital Opportunities Fund  32nd (140)  65th (116)  43rd (96) 
Putnam VT Diversified Income Fund  99th (61)  99th (51)  96th (41) 
Putnam VT Equity Income Fund  6th (72)  17th (64)  20th (55) 
Putnam VT The George Putnam Fund of Boston  95th (195)  95th (164)  94th (94) 
Putnam VT Global Asset Allocation Fund  53rd (214)  67th (150)  69th (94) 
Putnam VT Global Equity Fund  87th (50)  77th (33)  80th (28) 
Putnam VT Global Health Care Fund  12th (35)  71st (33)  56th (28) 
Putnam VT Global Utilities Fund  7th (32)  17th (30)  49th (26) 
Putnam VT Growth and Income Fund  35th (125)  82nd (111)  77th (97) 
Putnam VT Growth Opportunities Fund  12th (238)  47th (211)  74th (193) 

I-7

  One-year period percentile rank  Three-year period percentile rank  Five-year period percentile rank 
Fund  (# of funds in category)  (# of funds in category)  (# of funds in category) 
Putnam VT High Yield Fund  54th (114)  45th (104)  36th (84) 
Putnam VT Income Fund  90th (39)  88th (38)  87th (37) 
Putnam VT International Equity Fund  77th (117)  69th (99)  79th (92) 
Putnam VT International Growth and Income Fund  75th (69)  74th (62)  72nd (55) 
Putnam VT International New Opportunities Fund  24th (83)  31st (64)  41st (48) 
Putnam VT Investors Fund  26th (242)  88th (217)  82nd (189) 
Putnam VT Mid Cap Value Fund  74th (87)  75th (73)  59th (59) 
Putnam VT Money Market Fund  13th (108)  15th (106)  15th (102) 
Putnam VT New Opportunities Fund  18th (145)  60th (124)  60th (100) 
Putnam VT Research Fund  19th (242)  73rd (217)  82nd (189) 
Putnam VT Small Cap Value Fund  86th (63)  93rd (53)  96th (43) 
Putnam VT Vista Fund  85th (143)  94th (128)  87th (113) 
Putnam VT Voyager Fund  1st (238)  41st (211)  65th (193) 

† Performance information for the one-year period was not yet available for these funds. rankings are as of 12/31/08. As of 1/1/09, Putnam Management no longer evaluates these funds’ performance versus their Lipper peer groups and instead evaluates these funds’ performance against the performance of their respective benchmarks.

Appendix J — Management Contracts: Terms, Dates, and Approvals

Under the management contract between your fund and Putnam Management, subject to such policies as the Trustees may determine, Putnam Management, at its expense, furnishes continuously an investment program for the fund and makes investment decisions on behalf of the fund. Except for the funds included in the table below, the current management contract for your fund dated August 3, 2007 was last approved by shareholders on May 15, 2007. At that time, shareholders of the fund voted to approve a new management contract in connection with the sale of Putnam Investments to Great-West Lifeco Inc., a subsidiary of Power Financial Corporation, which constituted a “change of control” of the investment adviser under the 1940 Act and resulted in the automatic termination of the fund’s management contract. The management contract has not been submitted for approval by the shareholders of your fund since that date.

The following table contains information regarding the date of each remaining fund’s current management contract, the date on which it was last approved by shareholders and the purpose for that submission.

  Date of Current  Date Current Management Contract  Purpose of Last Submission of Current 
Fund  Management Contract  Last Submitted to Shareholder Vote  Management Contract to Shareholder Vote 
Putnam Absolute Return 100 Fund  December 22, 2008  December 31, 2008  Organization of the fund 
Putnam Absolute Return 300 Fund  December 22, 2008  December 31, 2008  Organization of the fund 
Putnam Absolute Return 500 Fund  December 22, 2008  December 31, 2008  Organization of the fund 
Putnam Absolute Return 700 Fund  December 22, 2008  December 31, 2008  Organization of the fund 
Putnam Asia Pacific Equity Fund  March 17, 2009  June 12, 2009  Organization of the fund 
Putnam Asset Allocation: Equity Portfolio  October 17, 2008  January 22, 2009  Organization of the fund 
Putnam Capital Spectrum Fund  April 20, 2009  May 18, 2009  Organization of the fund 
Putnam Emerging Markets Equity Fund  June 13, 2008  October 14, 2008  Organization of the fund 
Putnam Equity Spectrum Fund  April 20, 2009  May 18, 2009  Organization of the fund 
Putnam Global Consumer Fund  October 17, 2008  December 31, 2008  Organization of the fund 
Putnam Global Energy Fund  October 17, 2008  December 31, 2008  Organization of the fund 
Putnam Global Financials Fund  October 17, 2008  December 31, 2008  Organization of the fund 
Putnam Global Industrials Fund  October 17, 2008  December 31, 2008  Organization of the fund 
Putnam Global Natural Resources Fund  September 1, 2009  May 28, 2009  Change in frequency of fee calculation 
      and payment 
Putnam Global Technology Fund  October 17, 2008  December 31, 2008  Organization of the fund 
Putnam Global Telecommunications Fund  October 17, 2008  December 31, 2008  Organization of the fund 

J-1

The following is a brief description of the terms of your fund’s current management contract. See Appendix E for the current management fee rate(s).

Subject to the control of the Trustees and under your fund’s management contract, Putnam Management also manages, supervises and conducts the other affairs and business of the fund, furnishes office space and equipment, provides bookkeeping and clerical services (including determination of your fund’s net asset value, but excluding shareholder accounting services) and places all orders for the purchase and sale of your fund’s portfolio securities. Putnam Management may place fund portfolio transactions with broker-dealers that furnish Putnam Management, without cost to it, certain research, statistical and quotation services of value to Putnam Management and its affiliates in advising your fund and other clients. In so doing, Putnam Management may cause a fund to pay greater brokerage commissions than it might otherwise pay.

Putnam Management’s compensation under the management contract may be reduced in any year if your fund’s expenses exceed the limits on investment company expenses imposed by any statute or regulatory authority of any jurisdiction in which shares of the fund are qualified for offer or sale. The term “expenses” is defined in the statutes or regulations of such jurisdictions, and generally excludes brokerage commissions, taxes, interest, extraordinary expenses and payments made under the fund’s distribution plans.

Under the fund’s management contract, Putnam Management may reduce its compensation to the extent that your fund’s expenses exceed such lower expense limitation as Putnam Management may, by notice to the fund, declare to be effective. For the purpose of determining any such limitation on Putnam Management’s compensation, expenses of the fund shall not reflect the application of commissions or cash management credits that may reduce designated fund expenses.

In addition to the fee paid to Putnam Management, your fund reimburses Putnam Management for the compensation and related expenses of certain officers of the fund and their assistants who provide certain services for the fund and the other Putnam funds, each of which bears an allocated share of the foregoing costs. The aggregate amount of all such payments and reimbursements is determined annually by the Trustees.

Putnam Management pays all other salaries of officers of the fund. The fund pays all expenses not assumed by Putnam Management including, without limitation, auditing, legal, custodial, investor servicing and shareholder reporting expenses. The fund pays the cost of typesetting for its prospectuses and the cost of printing and mailing any prospectuses sent to its shareholders.

The fund’s management contract provides that Putnam Management shall not be subject to any liability to the fund or to any shareholder of the fund for any act or omission in the course of or connected with rendering services to the fund in the absence of willful misfeasance, bad faith, gross negligence or reckless disregard of its duties on the part of Putnam Management.

The fund’s management contract may be terminated without penalty by vote of the Trustees or the shareholders of your fund, or by Putnam Management, on 60 days’ written notice. It may be amended only by a vote of the shareholders of the fund. The fund’s management contract also terminates without payment of any penalty in the event of its assignment. The fund’s management contract provides that it will continue in effect only so long as such continuance is approved at least annually by vote of either the Trustees or the shareholders, and, in either case, by a majority of the Independent Trustees. In each of the foregoing cases, the vote of the shareholders is the affirmative vote of a “majority of the outstanding voting securities” as defined in the Investment Company Act of 1940.

Appendix K — Comparative Expense Tables

All mutual funds pay ongoing fees for investment management and other services. These charges, expressed as a percentage of fund assets, are known as the total annual fund operating expenses. For Putnam Asset Allocation: Growth Portfolio, Putnam Convertible Income-Growth Trust, The Putnam Fund for Growth and Income, Putnam Global Health Care Fund, Putnam International Equity Fund, Putnam Investors Fund, and Putnam Voyager Fund, where the operation of Fund Family breakpoints under the proposed management contract is projected, based on June 30, 2009 fund assets, to result in an immaterially higher management fee, the following tables describe the total annual fund operating expenses that you may pay (1) if you buy and hold shares of Putnam Asset Allocation: Growth Portfolio, Putnam Convertible Income-Growth Trust, The Putnam Fund for Growth and Income, Putnam Global Health Care Fund, or Putnam Investors Fund under the current manag ement contract and pro forma expenses that you would pay under the proposed management contract, or (2) if you buy and hold shares of Putnam International Equity Fund or Putnam Voyager Fund under the current management contract and pro forma expenses that you would pay under the proposed management contract with (a) both Fund Family breakpoints and performance fees, (b) Fund Family breakpoints only, or (c) performance fees only. All tables reflect projected expenses based on the funds’ current expense limitations and assume fund assets and Fund Family assets as of June 30, 2009 throughout the period. In the case of Putnam International Equity Fund and Putnam Voyager Fund, two of the three pro forma presentations assume a performance adjustment based on the fund’s performance relative to that of its benchmark index for the period beginning with the fund’s first fiscal year prior to its most recently completed fiscal year.

K-1

The examples below take the maximum up-front sales charge (or applicable contingent deferred sales charge) and the annual operating expenses shown in the table for each share class and translate them into dollar amounts, showing the cumulative effect of these costs over time. This is intended to help you more easily compare the cost of investing in the fund, under the current management contract and the proposed management contract, to the cost of investing in other mutual funds. The example makes

certain assumptions. It assumes that you invest $10,000 in the fund for the time periods shown and then, except as shown for class B shares and class C shares, redeem all your shares at the end of those periods. It also assumes a 5% return on your investment each year and that the fund’s operating expenses remain the same. The example is hypothetical; your actual costs and returns may be higher or lower.

PUTNAM ASSET ALLOCATION: GROWTH PORTFOLIO

Total Annual Fund Operating Expenses* (expenses that are deducted from fund assets)

      Distribution and    Acquired Fund  Total Annual Fund 
Class    Management Fees  Service (12b-1) Fees  Other Expenses  Operating Expenses****  Operating Expenses 
A  Current  0.61%  0.25%  0.38%  0.01%  1.25% 
 
  Pro Forma  0.61%  0.25%  0.38%  0.01%  1.25% 
B  Current  0.61%  1.00%  0.38%  0.01%  2.00% 
 
  Pro Forma  0.61%  1.00%  0.38%  0.01%  2.00% 
C  Current  0.61%  1.00%  0.38%  0.01%  2.00% 
 
  Pro Forma  0.61%  1.00%  0.38%  0.01%  2.00% 
M  Current  0.61%  0.75%  0.38%  0.01%  1.75% 
 
  Pro Forma  0.61%  0.75%  0.38%  0.01%  1.75% 
R  Current  0.61%  0.50%  0.38%  0.01%  1.50% 
 
  Pro Forma  0.61%  0.50%  0.38%  0.01%  1.50% 
Y  Current  0.61%  0.00%  0.38%  0.01%  1.00% 
 
  Pro Forma  0.61%  0.00%  0.38%  0.01%  1.00% 

* Putnam Management has contractually agreed, from August 1, 2009 through July 31, 2010, to limit the fund’s management fee to an annual rate of 0.611% of the fund’s average net assets and other expenses (not including brokerage, interest, taxes, investment-related expenses, extraordinary expenses and payments under the fund’s investor servicing contract, investment management contract and distribution plans) to an annual rate of 0.20% of the fund’s average net assets.

**** Estimate of expenses attributable to the fund’s investments in other investment companies, based on the total annual fund operating expenses of such companies as reported in their most recent shareholder reports (net of any applicable expense limitations). These indirect expenses will vary from time to time depending on the fund’s investments in other investment companies and their operating expenses.

How do these fees and expenses look in dollar terms?

Example: Sales charge plus annual operating expenses on a $10,000 investment over time

Class    1 year  3 years  5 years  10 years 
A  Current  $695  $949  $1,222  $1,999 
 
  Pro Forma  $695  $949  $1,222  $1,999 
B  Current  $703  $927  $1,278  $2,134* 
 
  Pro Forma  $703  $927  $1,278  $2,134* 
B (no redemption)  Current  $203  $627  $1,078  $2,134* 
 
  Pro Forma  $203  $627  $1,078  $2,134* 
C  Current  $303  $627  $1,078  $2,327 
 
  Pro Forma  $303  $627  $1,078  $2,327 
C (no redemption)  Current  $203  $627  $1,078  $2,327 
 
  Pro Forma  $203  $627  $1,078  $2,327 
M  Current  $522  $882  $1,266  $2,340 
 
  Pro Forma  $522  $882  $1,266  $2,340 
R  Current  $153  $474  $818  $1,791 
 
  Pro Forma  $153  $474  $818  $1,791 
Y  Current  $102  $318  $552  $1,225 
 
  Pro Forma  $102  $318  $552  $1,225 

* Reflects conversion of class B shares to class A shares, which pay lower 12b-1 fees. Conversion occurs eight years after purchase.

K-2

PUTNAM CONVERTIBLE INCOME-GROWTH TRUST

Total Annual Fund Operating Expenses* (expenses that are deducted from fund assets)

      Distribution and    Total Annual Fund 
Class    Management Fees  Service (12b-1) Fees  Other Expenses^  Operating Expenses 
A  Current  0.64%  0.25%  0.34%  1.23% 
 
  Pro Forma  0.64%  0.25%  0.34%  1.23% 
B  Current  0.64%  1.00%  0.34%  1.98% 
 
  Pro Forma  0.64%  1.00%  0.34%  1.98% 
C  Current  0.64%  1.00%  0.34%  1.98% 
 
  Pro Forma  0.64%  1.00%  0.34%  1.98% 
M  Current  0.64%  0.75%  0.34%  1.73% 
 
  Pro Forma  0.64%  0.75%  0.34%  1.73% 
R  Current  0.64%  0.50%  0.34%  1.48% 
 
  Pro Forma  0.64%  0.50%  0.34%  1.48% 
Y  Current  0.64%  0.00%  0.34%  0.98% 
 
  Pro Forma  0.64%  0.00%  0.34%  0.98% 

* Putnam Management has contractually agreed, from August 1, 2009 through July 31, 2010, to limit the fund’s other expenses (not including brokerage, interest, taxes, investment-related expenses, extraordinary expenses and payments under the fund’s investor servicing contract, investment management contract and distribution plans) to an annual rate of 0.20% of the fund’s average net assets.

^ Includes estimated expenses attributable to the fund’s investments in other investment companies that the fund bears indirectly. How do these fees and expenses look in dollar terms?

Example: Sales charge plus annual operating expenses on a $10,000 investment over time

Class    1 year  3 years  5 years  10 years 
A  Current  $693  $943  $1,212  $1,978 
 
  Pro Forma  $693  $943  $1,212  $1,978 
B  Current  $701  $921  $1,268  $2,113* 
 
  Pro Forma  $701  $921  $1,268  $2,113* 
B (no redemption)  Current  $201  $621  $1,068  $2,113* 
 
  Pro Forma  $201  $621  $1,068  $2,113* 
C  Current  $301  $621  $1,068  $2,306 
 
  Pro Forma  $301  $621  $1,068  $2,306 
C (no redemption)  Current  $201  $621  $1,068  $2,306 
 
  Pro Forma  $201  $621  $1,068  $2,306 
M  Current  $520  $876  $1,256  $2,319 
 
  Pro Forma  $520  $876  $1,256  $2,319 
R  Current  $151  $468  $808  $1,768 
 
  Pro Forma  $151  $468  $808  $1,768 
Y  Current  $100  $312  $542  $1,201 
 
  Pro Forma  $100  $312  $542  $1,201 

* Reflects conversion of class B shares to class A shares, which pay lower 12b-1 fees. Conversion occurs eight years after purchase.

K-3

THE PUTNAM FUND FOR GROWTH AND INCOME

Total Annual Fund Operating Expenses* (expenses that are deducted from fund assets)

      Distribution and    Total Annual Fund 
Class    Management Fees  Service (12b-1) Fees  Other Expenses^  Operating Expenses 
A  Current  0.49%  0.25%  0.43%  1.17% 
 
  Pro Forma  0.49%  0.25%  0.43%  1.17% 
B  Current  0.49%  1.00%  0.43%  1.92% 
 
  Pro Forma  0.49%  1.00%  0.43%  1.92% 
C  Current  0.49%  1.00%  0.43%  1.92% 
 
  Pro Forma  0.49%  1.00%  0.43%  1.92% 
M  Current  0.49%  0.75%  0.43%  1.67% 
 
  Pro Forma  0.49%  0.75%  0.43%  1.67% 
R  Current  0.49%  0.50%  0.43%  1.42% 
 
  Pro Forma  0.49%  0.50%  0.43%  1.42% 
Y  Current  0.49%  0.00%  0.43%  0.92% 
 
  Pro Forma  0.49%  0.00%  0.43%  0.92% 

* Reflects Putnam Management’s contractual obligation, from August 1, 2009 through at least July 31, 2010, to limit the fund’s investor servicing fees to an annual rate of 0.375% of the fund’s average net assets. Putnam Management has also contractually agreed, from August 1, 2009 through July 31, 2010, to limit the fund’s other expenses (not including brokerage, interest, taxes, investment-related expenses, extraordinary expenses and payments under the fund’s investor servicing contract, investment management contract and distribution plans) to an annual rate of 0.20% of the fund’s average net assets.

^ Includes estimated expenses attributable to the fund’s investments in other investment companies that the fund bears indirectly.

How do these fees and expenses look in dollar terms?

Example: Sales charge plus annual operating expenses on a $10,000 investment over time

Class    1 year  3 years  5 years  10 years 
A  Current  $687  $925  $1,182  $1,914 
 
  Pro Forma  $687  $925  $1,182  $1,914 
B  Current  $695  $903  $1,237  $2,048* 
 
  Pro Forma  $695  $903  $1,237  $2,048* 
B (no redemption)  Current  $195  $603  $1,037  $2,048* 
 
  Pro Forma  $195  $603  $1,037  $2,048* 
C  Current  $295  $603  $1,037  $2,243 
 
  Pro Forma  $295  $603  $1,037  $2,243 
C (no redemption)  Current  $195  $603  $1,037  $2,243 
 
  Pro Forma  $195  $603  $1,037  $2,243 
M  Current  $514  $858  $1,226  $2,257 
 
  Pro Forma  $514  $858  $1,226  $2,257 
R  Current  $145  $449  $776  $1,702 
 
  Pro Forma  $145  $449  $776  $1,702 
Y  Current  $94  $293  $509  $1,131 
 
  Pro Forma  $94  $293  $509  $1,131 

* Reflects conversion of class B shares to class A shares, which pay lower 12b-1 fees. Conversion occurs eight years after purchase.

K-4

PUTNAM GLOBAL HEALTH CARE FUND

Total Annual Fund Operating Expenses* (expenses that are deducted from fund assets)

      Distribution and    Acquired Fund  Total Annual Fund 
Class    Management Fees  Service (12b-1) Fees  Other Expenses  Operating Expenses****  Operating Expenses 
A  Current  0.64%  0.25%  0.43%  0.01%  1.33% 
 
  Pro Forma  0.64%  0.25%  0.43%  0.01%  1.33% 
B  Current  0.64%  1.00%  0.43%  0.01%  2.08% 
 
  Pro Forma  0.64%  1.00%  0.43%  0.01%  2.08% 
C  Current  0.64%  1.00%  0.43%  0.01%  2.08% 
 
  Pro Forma  0.64%  1.00%  0.43%  0.01%  2.08% 
M  Current  0.64%  0.75%  0.43%  0.01%  1.83% 
 
  Pro Forma  0.64%  0.75%  0.43%  0.01%  1.83% 
R  Current  0.64%  0.50%  0.43%  0.01%  1.58% 
 
  Pro Forma  0.64%  0.50%  0.43%  0.01%  1.58% 
Y  Current  0.64%  0.00%  0.43%  0.01%  1.08% 
 
  Pro Forma  0.64%  0.00%  0.43%  0.01%  1.08% 

* Reflects Putnam Management’s contractual obligation, from August 1, 2009 through at least July 31, 2010, to limit the fund’s investor servicing fees to an annual rate of 0.375% of the fund’s average net assets. Putnam Management has also contractually agreed, from August 1, 2009 through July 31, 2010, to limit the fund’s other expenses (not including brokerage, interest, taxes, investment-related expenses, extraordinary expenses and payments under the fund’s investor servicing contract, investment management contract and distribution plans) to an annual rate of 0.20% of the fund’s average net assets.

**** Estimate of expenses attributable to the fund’s investments in other investment companies, based on the total annual fund operating expenses of such companies as reported in their most recent shareholder reports (net of any applicable expense limitations). These indirect expenses will vary from time to time depending on the fund’s investments in other investment companies and their operating expenses.

How do these fees and expenses look in dollar terms?

Example: Sales charge plus annual operating expenses on a $10,000 investment over time

Class    1 year  3 years  5 years  10 years 
A  Current  $703  $972  $1,262  $2,084 
 
  Pro Forma  $703  $972  $1,262  $2,084 
B  Current  $711  $952  $1,319  $2,219* 
 
  Pro Forma  $711  $952  $1,319  $2,219* 
B (no redemption)  Current  $211  $652  $1,119  $2,219* 
 
  Pro Forma  $211  $652  $1,119  $2,219* 
C  Current  $311  $652  $1,119  $2,410 
 
  Pro Forma  $311  $652  $1,119  $2,410 
C (no redemption)  Current  $211  $652  $1,119  $2,410 
 
  Pro Forma  $211  $652  $1,119  $2,410 
M  Current  $529  $905  $1,306  $2,423 
 
  Pro Forma  $529  $905  $1,306  $2,423 
R  Current  $161  $499  $860  $1,878 
 
  Pro Forma  $161  $499  $860  $1,878 
Y  Current  $110  $343  $595  $1,317 
 
  Pro Forma  $110  $343  $595  $1,317 

* Reflects conversion of class B shares to class A shares, which pay lower 12b-1 fees. Conversion occurs eight years after purchase.

K-5

PUTNAM INVESTORS FUND

Total Annual Fund Operating Expenses* (expenses that are deducted from fund assets)

      Distribution and    Total Annual Fund 
Class    Management Fees  Service (12b-1) Fees  Other Expenses^  Operating Expenses 
A  Current  0.57%  0.25%  0.45%  1.27% 
 
  Pro Forma  0.57%  0.25%  0.45%  1.27% 
B  Current  0.57%  1.00%  0.45%  2.02% 
 
  Pro Forma  0.57%  1.00%  0.45%  2.02% 
C  Current  0.57%  1.00%  0.45%  2.02% 
 
  Pro Forma  0.57%  1.00%  0.45%  2.02% 
M  Current  0.57%  0.75%  0.45%  1.77% 
 
  Pro Forma  0.57%  0.75%  0.45%  1.77% 
R  Current  0.57%  0.50%  0.45%  1.52% 
 
  Pro Forma  0.57%  0.50%  0.45%  1.52% 
Y  Current  0.57%  0.00%  0.45%  1.02% 
 
  Pro Forma  0.57%  0.00%  0.45%  1.02% 

* Reflects Putnam Management’s contractual obligation, from August 1, 2009 through at least July 31, 2010, to limit the fund’s investor servicing fees to an annual rate of 0.375% of the fund’s average net assets. Putnam Management has also contractually agreed, from August 1, 2009 through July 31, 2010, to limit the fund’s other expenses (not including brokerage, interest, taxes, investment-related expenses, extraordinary expenses and payments under the fund’s investor servicing contract, investment management contract and distribution plans) to an annual rate of 0.20% of the fund’s average net assets.

^ Includes estimated expenses attributable to the fund’s investments in other investment companies that the fund bears indirectly.

How do these fees and expenses look in dollar terms?

Example: Sales charge plus annual operating expenses on a $10,000 investment over time

Class    1 year  3 years  5 years  10 years 
A  Current  $697  $955  $1,232  $2,021 
 
  Pro Forma  $697  $955  $1,232  $2,021 
B  Current  $705  $934  $1,288  $2,155* 
 
  Pro Forma  $705  $934  $1,288  $2,155* 
B (no redemption)  Current  $205  $634  $1,088  $2,155* 
 
  Pro Forma  $205  $634  $1,088  $2,155* 
C  Current  $305  $634  $1,088  $2,348 
 
  Pro Forma  $305  $634  $1,088  $2,348 
C (no redemption)  Current  $205  $634  $1,088  $2,348 
 
  Pro Forma  $205  $634  $1,088  $2,348 
M  Current  $524  $888  $1,276  $2,361 
 
  Pro Forma  $524  $888  $1,276  $2,361 
R  Current  $155  $480  $829  $1,813 
 
  Pro Forma  $155  $480  $829  $1,813 
Y  Current  $104  $325  $563  $1,248 
 
  Pro Forma  $104  $325  $563  $1,248 

* Reflects conversion of class B shares to class A shares, which pay lower 12b-1 fees. Conversion occurs eight years after purchase.

K-6

PUTNAM INTERNATIONAL EQUITY FUND

Total Annual Fund Operating Expenses* (expenses that are deducted from fund assets)

      Distribution    Total Annual 
    Management  and Service    Fund Operating 
Class    Fees  (12b-1) Fees  Other Expenses^  Expenses 
A  Current  0.70%  0.25%  0.46%  1.41% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.62%  0.25%  0.46%  1.33% 
 
  Pro Forma (with Fund Family breakpoints only)  0.71%  0.25%  0.46%  1.42% 
 
  Pro Forma (with performance fees only)  0.61%  0.25%  0.46%  1.32% 
B  Current  0.70%  1.00%  0.46%  2.16% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.62%  1.00%  0.46%  2.08% 
 
  Pro Forma (with Fund Family breakpoints only)  0.71%  1.00%  0.46%  2.17% 
 
  Pro Forma (with performance fees only)  0.61%  1.00%  0.46%  2.07% 
C  Current  0.70%  1.00%  0.46%  2.16% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.62%  1.00%  0.46%  2.08% 
 
  Pro Forma (with Fund Family breakpoints only)  0.71%  1.00%  0.46%  2.17% 
 
  Pro Forma (with performance fees only)  0.61%  1.00%  0.46%  2.07% 
M  Current  0.70%  0.75%  0.46%  1.91% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.62%  0.75%  0.46%  1.83% 
 
  Pro Forma (with Fund Family breakpoints only)  0.71%  0.75%  0.46%  1.92% 
 
  Pro Forma (with performance fees only)  0.61%  0.75%  0.46%  1.82% 
R  Current  0.70%  0.50%  0.46%  1.66% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.62%  0.50%  0.46%  1.58% 
 
  Pro Forma (with Fund Family breakpoints only)  0.71%  0.50%  0.46%  1.67% 
 
  Pro Forma (with performance fees only)  0.61%  0.50%  0.46%  1.57% 
Y  Current  0.70%  0.00%  0.46%  1.16% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.62%  0.00%  0.46%  1.08% 
 
  Pro Forma (with Fund Family breakpoints only)  0.71%  0.00%  0.46%  1.17% 
 
  Pro Forma (with performance fees only)  0.61%  0.00%  0.46%  1.07% 

* Reflects Putnam Management’s contractual obligation, from August 1, 2009 through at least July 31, 2010, to limit the fund’s investor servicing fees to an annual rate of 0.375% of the fund’s average net assets. Putnam Management has also contractually agreed, from August 1, 2009 through July 31, 2010, to limit the fund’s other expenses (not including brokerage, interest, taxes, investment-related expenses, extraordinary expenses and payments under the fund’s investor servicing contract, investment management contract and distribution plans) to an annual rate of 0.20% of the fund’s average net assets.

^ Includes estimated expenses attributable to the fund’s investments in other investment companies that the fund bears indirectly.

K-7

How do these fees and expenses look in dollar terms?

Example: Sales charge plus annual operating expenses on a $10,000 investment over time

Class    1 year  3 years  5 years  10 years 
A  Current  $710  $996  $1,302  $2,169 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $703  $972  $1,262  $2,084 
 
  Pro Forma (with Fund Family breakpoints only)  $711  $998  $1,307  $2,179 
 
  Pro Forma (with performance fees only)  $702  $969  $1,257  $2,074 
B  Current  $719  $976  $1,359  $2,303* 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $711  $952  $1,319  $2,219* 
 
  Pro Forma (with Fund Family breakpoints only)  $720  $979  $1,364  $2,313* 
 
  Pro Forma (with performance fees only)  $710  $949  $1,314  $2,208* 
B (no redemption)  Current  $219  $676  $1,159  $2,303* 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $211  $652  $1,119  $2,219* 
 
  Pro Forma (with Fund Family breakpoints only)  $220  $679  $1,164  $2,313* 
 
  Pro Forma (with performance fees only)  $210  $649  $1,114  $2,208* 
C  Current  $319  $676  $1,159  $2,493 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $311  $652  $1,119  $2,410 
 
  Pro Forma (with Fund Family breakpoints only)  $320  $679  $1,164  $2,503 
 
  Pro Forma (with performance fees only)  $310  $649  $1,114  $2,400 
C (no redemption)  Current  $219  $676  $1,159  $2,493 
 
Pro Forma (with both Fund Family breakpoints and performance fees)  $211  $652  $1,119  $2,410 
 
  Pro Forma (with Fund Family breakpoints only)  $220  $679  $1,164  $2,503 
 
  Pro Forma (with performance fees only)  $210  $649  $1,114  $2,400 
M  Current  $537  $929  $1,345  $2,505 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $529  $905  $1,306  $2,423 
 
  Pro Forma (with Fund Family breakpoints only)  $538  $932  $1,350  $2,515 
 
  Pro Forma (with performance fees only)  $528  $902  $1,301  $2,412 
R  Current  $169  $523  $902  $1,965 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $161  $499  $860  $1,878 
 
  Pro Forma (with Fund Family breakpoints only)  $170  $526  $907  $1,976 
 
  Pro Forma (with performance fees only)  $160  $496  $855  $1,867 
Y  Current  $118  $368  $638  $1,409 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $110  $343  $595  $1,317 
 
  Pro Forma (with Fund Family breakpoints only)  $119  $372  $644  $1,420 
 
  Pro Forma (with performance fees only)  $109  $340  $590  $1,306 

* Reflects conversion of class B shares to class A shares, which pay lower 12b-1 fees. Conversion occurs eight years after purchase.

K-8

PUTNAM VOYAGER FUND

Total Annual Fund Operating Expenses* (expenses that are deducted from fund assets)

      Distribution    Total Annual 
    Management  and Service    Fund Operating 
Class    Fees  (12b-1) Fees  Other Expenses^  Expenses 
A  Current  0.56%  0.25%  0.45%  1.26% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.45%  0.25%  0.45%  1.15% 
 
  Pro Forma (with Fund Family breakpoints only)  0.57%  0.25%  0.45%  1.27% 
 
  Pro Forma (with performance fees only)  0.44%  0.25%  0.45%  1.14% 
B  Current  0.56%  1.00%  0.45%  2.01% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.45%  1.00%  0.45%  1.90% 
 
  Pro Forma (with Fund Family breakpoints only)  0.57%  1.00%  0.45%  2.02% 
 
  Pro Forma (with performance fees only)  0.44%  1.00%  0.45%  1.89% 
C  Current  0.56%  1.00%  0.45%  2.01% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.45%  1.00%  0.45%  1.90% 
 
  Pro Forma (with Fund Family breakpoints only)  0.57%  1.00%  0.45%  2.02% 
 
  Pro Forma (with performance fees only)  0.44%  1.00%  0.45%  1.89% 
M  Current  0.56%  0.75%  0.45%  1.76% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.45%  0.75%  0.45%  1.65% 
 
  Pro Forma (with Fund Family breakpoints only)  0.57%  0.75%  0.45%  1.77% 
 
  Pro Forma (with performance fees only)  0.44%  0.75%  0.45%  1.64% 
R  Current  0.56%  0.50%  0.45%  1.51% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.45%  0.50%  0.45%  1.40% 
 
  Pro Forma (with Fund Family breakpoints only)  0.57%  0.50%  0.45%  1.52% 
 
  Pro Forma (with performance fees only)  0.44%  0.50%  0.45%  1.39% 
Y  Current  0.56%  0.00%  0.45%  1.01% 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  0.45%  0.00%  0.45%  0.90% 
 
  Pro Forma (with Fund Family breakpoints only)  0.57%  0.00%  0.45%  1.02% 
 
  Pro Forma (with performance fees only)  0.44%  0.00%  0.45%  0.89% 

* Reflects Putnam Management’s contractual obligation, from August 1, 2009 through at least July 31, 2010, to limit the fund’s investor servicing fees to an annual rate of 0.375% of the fund’s average net assets. Putnam Management has also contractually agreed, from August 1, 2009 through July 31, 2010, to limit the fund’s other expenses (not including brokerage, interest, taxes, investment-related expenses, extraordinary expenses and payments under the fund’s investor servicing contract, investment management contract and distribution plans) to an annual rate of 0.20% of the fund’s average net assets.

^ Includes estimated expenses attributable to the fund’s investments in other investment companies that the fund bears indirectly.

K-9

How do these fees and expenses look in dollar terms?

Example: Sales charge plus annual operating expenses on a $10,000 investment over time

Class    1 year  3 years  5 years  10 years 
A  Current  $696  $952  $1,227  $2,010 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $685  $919  $1,172  $1,892 
 
  Pro Forma (with Fund Family breakpoints only)  $697  $955  $1,232  $2,021 
 
  Pro Forma (with performance fees only)  $685  $916  $1,167  $1,881 
B  Current  $704  $930  $1,283  $2,144* 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $693  $897  $1,226  $2,027* 
 
  Pro Forma (with Fund Family breakpoints only)  $705  $934  $1,288  $2,155* 
 
  Pro Forma (with performance fees only)  $692  $894  $1,221  $2,016* 
B (no redemption)  Current  $204  $630  $1,083  $2,144* 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $193  $597  $1,026  $2,027* 
 
  Pro Forma (with Fund Family breakpoints only)  $205  $634  $1,088  $2,155* 
 
  Pro Forma (with performance fees only)  $192  $594  $1,021  $2,016* 
C  Current  $304  $630  $1,083  $2,338 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $293  $597  $1,026  $2,222 
 
  Pro Forma (with Fund Family breakpoints only)  $305  $634  $1,088  $2,348 
 
  Pro Forma (with performance fees only)  $292  $594  $1,021  $2,212 
C  Current  $204  $630  $1,083  $2,338 
 
(no redemption)  Pro Forma (with both Fund Family breakpoints and performance fees)  $193  $597  $1,026  $2,222 
 
  Pro Forma (with Fund Family breakpoints only)  $205  $634  $1,088  $2,348 
 
  Pro Forma (with performance fees only)  $192  $594  $1,021  $2,212 
M  Current  $523  $885  $1,271  $2,351 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $512  $852  $1,216  $2,236 
 
  Pro Forma (with Fund Family breakpoints only)  $524  $888  $1,276  $2,361 
 
  Pro Forma (with performance fees only)  $511  $849  $1,211  $2,226 
R  Current  $154  $477  $824  $1,802 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $143  $443  $766  $1,680 
 
  Pro Forma (with Fund Family breakpoints only)  $155  $480  $829  $1,813 
 
  Pro Forma (with performance fees only)  $142  $440  $761  $1,669 
Y  Current  $103  $322  $558  $1,236 
 
  Pro Forma (with both Fund Family breakpoints and performance fees)  $92  $287  $498  $1,108 
 
  Pro Forma (with Fund Family breakpoints only)  $104  $325  $563  $1,248 
 
  Pro Forma (with performance fees only)  $91  $284  $493  $1,096 

* Reflects conversion of class B shares to class A shares, which pay lower 12b-1 fees. Conversion occurs eight years after purchase.

Appendix L — Comparison of Management Fees

Comparison of Management Fees
The following table shows:

(1) the annual dollar amount of the actual management fees that would be paid by each fund, before any applicable waivers, under the current management contract assuming fund net assets as of June 30, 2009;

(2) the annual dollar amount of the pro forma management fees that would be paid by each fund, before any applicable waivers, under the proposed management contract, in the case of funds for which a performance fee is proposed, with (a) both Fund Family breakpoints and performance fees, (b) Fund Family breakpoints only, or (c) performance fees only, in each case assuming fund and Fund Family net assets as of June 30, 2009; and

(3) the difference between these actual and pro forma dollar amounts, expressed as a percentage of the actual management fees (before waivers).

Such percentage difference is positive when the amount of the pro forma management fees would have been larger than the amount of the actual management fees paid by the fund, and (negative) when the amount of the pro forma management fees would have been smaller than the amount of the actual management fees paid by the fund.

In the case of funds for which a management contract providing for performance adjustment is proposed, pro forma expenses under the proposed management contract assume a performance adjustment based on the fund’s performance relative to that of its

L-1

benchmark index for the period beginning with the fund’s first fiscal year prior to its most recently completed fiscal year.1

      Difference 
      Between Pro 
  Actual  Pro Forma  Forma and Actual 
  Management Fee  Management Fee  Management Fee 
Fund  Before Waiver ($)  Before Waiver ($)  Before Waiver 
Putnam  249,695  223,437  (11%) 
Absolute Return       
100 Fund*       
Putnam  579,262  527,718  (9%) 
Absolute Return       
300 Fund*       
Putnam  799,808  741,983  (7%) 
Absolute Return       
500 Fund*       
Putnam  594,842  558,626  (6%) 
Absolute Return       
700 Fund*       
Putnam  4,316,758  2,860,220  (34%) 
American       
Government       
Income Fund       
Putnam  1,745,033  1,578,074  (10%) 
AMT-Free       
Municipal Fund       
Putnam Arizona  346,290  313,159  (10%) 
Tax Exempt       
Income Fund       
Putnam Asset  8,397,585  7,292,157  (13%) 
Allocation:       
Balanced       
Portfolio       
Putnam Asset  6,024,875  4,992,292  (17%) 
Allocation:       
Conservative       
Portfolio       
Putnam Asset  269,441  235,631  (13%) 
Allocation:       
Equity Portfolio*       
Putnam Asset  9,642,495  9,662,966  0% 
Allocation:       
Growth Portfolio       
Putnam  8,045,646  7,275,864  (10%) 
California Tax       
Exempt Income       
Fund       
Putnam Capital  1,491,510  1,473,524  (1%) 
Opportunities       
Fund       
Putnam Capital  170,186  157,882  (7%) 
Spectrum Fund*       
Putnam  3,566,979  3,580,900  0% 
Convertible       
Income-Growth       
Trust       
Putnam  10,622,893  9,976,000  (6%) 
Diversified       
Income Trust       
Putnam Equity  13,259,536  12,587,892  (5%) 
Income Fund       
Putnam Equity  61,204  56,779  (7%) 
Spectrum Fund*       
Putnam Floating  2,077,980  1,860,591  (10%) 
Rate Income       
Fund       

      Difference 
      Between Pro 
  Actual  Pro Forma  Forma and Actual 
  Management Fee  Management Fee  Management Fee 
Fund  Before Waiver ($)  Before Waiver ($)  Before Waiver 
The Putnam  23,073,628  23,321,492  1% 
Fund for Growth       
and Income       
The George  8,117,687  7,717,876  (5%) 
Putnam Fund of       
Boston       
Putnam Global  25,590  23,475  (8%) 
Consumer Fund*       
Putnam Global  36,366  33,361  (8%) 
Energy Fund*       
Putnam Global  43,812  40,192  (8%) 
Financials Fund*       
Putnam Global  7,298,716  7,354,171  1% 
Health Care       
Fund       
Putnam Global  873,549  701,537  (20%) 
Income Trust       
Putnam Global  23,481  21,541  (8%) 
Industrials Fund*       
Putnam  2,539,677  2,329,833  (8%) 
Global Natural       
Resources Fund       
Putnam Global  34,665  31,801  (8%) 
Technology       
Fund*       
Putnam Global  20,837  19,115  (8%) 
Telecommuni-       
cations Fund*       
Putnam Global  2,220,135  2,036,693  (8%) 
Utilities Fund       
Putnam High  4,304,431  3,691,323  (14%) 
Yield Advantage       
Fund       
Putnam High  7,427,497  6,803,349  (8%) 
Yield Trust       
Putnam Income  5,763,846  3,944,646  (32%) 
Fund       
Putnam Income  244,094  203,537  (17%) 
Strategies Fund       
Putnam  8,162,666  8,196,405  0% 
Investors Fund       
Putnam  1,353,857  1,224,324  (10%) 
Massachusetts       
Tax Exempt       
Income Fund       
Putnam  421,579  381,244  (10%) 
Michigan Tax       
Exempt Income       
Fund       
Putnam Mid Cap  3,489,388  3,001,679  (14%) 
Value Fund       
Putnam  442,012  399,722  (10%) 
Minnesota Tax       
Exempt Income       
Fund       
Putnam Money  8,921,077  8,758,378  (2%) 
Market Fund       
Putnam New  1,059,094  957,763  (10%) 
Jersey Tax       
Exempt Income       
Fund       

1 For funds for which the current management contract includes a performance adjustment but which do not yet have at least 13 complete calendar months of operations, no performance adjustments are shown.

L-2

      Difference 
      Between Pro 
  Actual  Pro Forma  Forma and Actual 
  Management Fee  Management Fee  Management Fee 
Fund  Before Waiver ($)  Before Waiver ($)  Before Waiver 
Putnam New  5,301,283  4,794,074  (10%) 
York Tax Exempt       
Income Fund       
Putnam Ohio Tax  747,810  676,262  (10%) 
Exempt Income       
Fund       
Putnam  857,967  775,879  (10%) 
Pennsylvania       
Tax Exempt       
Income Fund       
Putnam  1,391,562  1,224,921  (12%) 
Research Fund       
Putnam Small  1,374,421  1,103,251  (20%) 
Cap Value Fund       
Putnam Tax  5,558,979  5,027,114  (10%) 
Exempt Income       
Fund       
Putnam Tax  311,346  209,059  (33%) 
Exempt Money       
Market Fund       
Putnam  4,319,194  4,251,483  (2%) 
Tax-Free High       
Yield Fund       
Putnam U.S.  6,244,584  5,104,619  (18%) 
Government       
Income Trust       
Putnam VT  986,497  625,533  (37%) 
American       
Government       
Income Fund       
Putnam  135,730  134,093  (1%) 
VT Capital       
Opportunities       
Fund       
Putnam VT  2,761,781  2,217,954  (20%) 
Diversified       
Income Fund       
Putnam VT  2,338,026  1,770,287  (24%) 
Equity Income       
Fund       
Putnam VT The  1,354,098  1,129,446  (17%) 
George Putnam       
Fund of Boston       
Putnam VT  1,413,272  1,235,930  (13%) 
Global Asset       
Allocation Fund       
Putnam VT  1,793,710  1,596,764  (11%) 
Global Equity       
Fund       

      Difference 
      Between Pro 
  Actual  Pro Forma  Forma and Actual 
  Management Fee  Management Fee  Management Fee 
Fund  Before Waiver ($)  Before Waiver ($)  Before Waiver 
Putnam VT  894,705  820,779  (8%) 
Global Health       
Care Fund       
Putnam VT  1,211,221  1,111,143  (8%) 
Global Utilities       
Fund       
Putnam VT  7,486,925  6,385,231  (15%) 
Growth and       
Income Fund       
Putnam  165,523  135,294  (18%) 
VT Growth       
Opportunities       
Fund       
Putnam VT High  2,611,414  2,171,807  (17%) 
Yield Fund       
Putnam VT  2,728,079  1,729,861  (37%) 
Income Fund       
Putnam VT  4,309,215  3,875,396  (10%) 
International       
Equity Fund       
Putnam VT  1,292,817  1,150,868  (11%) 
International       
Growth and       
Income Fund       
Putnam VT  719,255  677,654  (6%) 
International       
New       
Opportunities       
Fund       
Putnam VT  1,617,723  1,423,998  (12%) 
Investors Fund       
Putnam VT Mid  230,997  198,711  (14%) 
Cap Value Fund       
Putnam VT  1,820,143  1,222,172  (33%) 
Money Market       
Fund       
Putnam VT New  3,590,741  2,947,339  (18%) 
Opportunities       
Fund       
Putnam VT  410,841  361,642  (12%) 
Research Fund       
Putnam VT Small  1,800,558  1,445,311  (20%) 
Cap Value Fund       
Putnam VT Vista  1,080,683  1,001,147  (7%) 
Fund       
Putnam VT  5,616,500  4,879,108  (13%) 
Voyager Fund       

* Reflects twelve months of operations for comparative purposes. The fund has not completed twelve months of activity as of June 30, 2009.

L-3

Funds Subject to Proposals 2.A., 2.B., and 2.C.

      Difference         
    Pro Forma  Between Pro    Difference     
    Management  Forma (with both    Between Pro    Difference 
    Fee Before  Fund Family  Pro Forma  Forma (with    Between Pro 
    Waiver (with  breakpoints and  Management Fee  Fund Family  Pro Forma  Forma (with 
    both Fund Family  performance  Before Waiver  breakpoints  Management Fee  performance fees 
  Actual  breakpoints and  fees) and Actual  (with Fund Family  only) and Actual  Before Waiver  only) and Actual 
  Management Fee  performance  Management Fee  breakpoints  Management Fee  (with performance  Management Fee 
Fund  Before Waiver ($)  fees) ($)  Before Waiver  only)($)  Before Waiver  fees only) ($)  Before Waiver 
Putnam Asia  51,461  48,485  (6%)  48,485  (6%)  51,461  0% 
Pacific Equity               
Fund*†               
Putnam  136,095  128,223  (6%)  128,223  (6%)  136,095  0% 
Emerging               
Markets Equity               
Fund*†               
Putnam Europe  1,559,898  1,235,365  (21%)  1,388,625  (11%)  1,406,638  (10%) 
Equity Fund               
Putnam Global  6,533,376  5,825,325  (11%)  6,138,199  (6%)  6,220,503  (5%) 
Equity Fund               
Putnam Growth  2,048,300  1,327,966  (35%)  1,674,227  (18%)  1,702,040  (17%) 
Opportunities               
Fund               
Putnam  9,690,640  10,553,112  9%  9,632,926  (1%)  10,610,825  9% 
International               
Capital               
Opportunities               
Fund               
Putnam  12,478,979  11,106,042  (11%)  12,734,612  2%  10,850,409  (13%) 
International               
Equity Fund               
Putnam  2,818,248  2,031,558  (28%)  2,508,810  (11%)  2,340,996  (17%) 
International               
Growth and               
Income Fund               
Putnam  3,824,983  3,313,245  (13%)  3,603,753  (6%)  3,534,476  (8%) 
International               
New               
Opportunities               
Fund               
Putnam New  13,536,435  11,629,950  (14%)  13,487,492  0%  11,678,893  (14%) 
Opportunities               
Fund               
Putnam Small  1,330,666  619,906  (53%)  854,503  (36%)  1,096,070  (18%) 
Cap Growth               
Fund               
Putnam Vista  5,575,894  4,449,820  (20%)  5,557,288  0%  4,468,426  (20%) 
Fund               
Putnam Voyager  16,015,841  12,924,708  (19%)  16,324,733  2%  12,615,816  (21%) 
Fund               

* Reflects twelve months of operations for comparative purposes. The fund has not completed twelve months of activity as of June 30, 2009.

† Performance period for this fund is less than twelve months. No performance fee can be calculated.

L-4

Appendix M — Current Fundamental Investment Restrictions with Respect to
Investments in Commodities

Putnam Absolute Return 100 Fund
Putnam Absolute Return 300 Fund
Putnam Absolute Return 500 Fund
Putnam Absolute Return 700 Fund
Putnam Capital Spectrum Fund
Putnam Emerging Markets Equity Fund
Putnam Equity Spectrum Fund
Putnam Global Consumer Fund
Putnam Global Energy Fund
Putnam Global Financials Fund
Putnam Global Industrials Fund
Putnam Global Technology Fund
Putnam Global Telecommunications Fund

“Purchase or sell physical commodities unless acquired as a result of ownership of securities or other instruments. (This restriction shall not prevent the fund from purchasing or selling financial instruments representing interests in commodities or the values of which are determined by reference to commodities, but which do not involve the delivery of physical commodities to or by the fund, or from entering into financial futures contracts, options, foreign exchange contracts and other financial transactions.)”

Putnam Asia Pacific Equity Fund
Putnam Asset Allocation: Balanced Portfolio
Putnam Asset Allocation: Conservative Portfolio
Putnam Asset Allocation: Growth Portfolio
Putnam Income Strategies Fund
Putnam VT Global Asset Allocation Fund

“Purchase or sell physical commodities unless acquired as a result of ownership of securities or other instruments. This restriction shall not prevent the fund from purchasing or selling financial instruments representing interests in commodities (or the values of which are determined by reference to commodities), but which do not involve the delivery of physical commodities to or by the fund, or from entering into financial futures contracts, options, foreign exchange contracts and other financial transactions.”

Putnam Asset Allocation: Equity Portfolio

“Purchase or sell physical commodities unless acquired as a result of ownership of securities or other instruments. This restriction shall not prevent the fund from purchasing or selling financial instruments representing interests in commodities or the values of which are determined by reference to commodities, but which do not involve the delivery of physical commodities to or by the fund, or from entering into financial futures contracts, options, foreign exchange contracts and other financial transactions.”

Putnam Global Health Care Fund
Putnam Global Natural Resources Fund
Putnam Global Utilities Fund
Putnam VT Global Health Care Fund
Putnam VT Global Utilities Fund

“Purchase or sell commodities or commodity contracts, except that the fund may purchase and sell financial futures contracts and options and may enter into foreign exchange contracts and other financial transactions not involving physical commodities.”

Appendix N — Current Fundamental Investment Restrictions with Respect to
Diversification of Investments

Putnam Europe Equity Fund
Putnam International Equity Fund

“With respect to 75% of its total assets, invest in securities of any issuer if, immediately after such investment, more than 5% of the total assets of the fund (taken at current value) would be invested in the securities of such issuer; provided that this limitation does not apply to obligations issued or guaranteed as to interest or principal by the U.S. government or its agencies or instrumentalities.”

Putnam New Opportunities Fund

“With respect to 75% of its total assets, invest in securities of any issuer if, immediately after such investment, more than 5% of the total assets of the fund (taken at current value) would be invested in the securities of such issuer; provided that this limitation does not apply to obligations issued or guaranteed as to interest and principal by the U.S. government or its agencies or instrumentalities.”

M/N-1

Putnam Global Utilities Fund

“With respect to 75% of its total assets, invest in securities of any issuer if, immediately after such investment, more than 5% of the total assets of the fund (taken at current value) would be invested in the securities of such issuer; provided that this limitation does not apply to obligations issued or guaranteed as to interest or principal by the U.S. government or its agencies or instrumentalities or to securities issued by other investment companies.”

Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund

“With respect to 75% of its total assets, invest in securities of any issuer if, immediately after such investment, more than 5% of the total assets of the fund (taken at current value) would be invested in the securities of such issuer; provided that this limitation does not apply to obligations issued or guaranteed as to interest or principal by the U.S. government or its political subdivisions.”

Appendix O — Current Fundamental Investment Restrictions with Respect
to Borrowing

Putnam Europe Equity Fund
Putnam Growth Opportunities Fund
Putnam International Capital Opportunities Fund
Putnam International Equity Fund
Putnam New Jersey Tax Exempt Income Fund
Putnam New Opportunities Fund

“Borrow money in excess of 10% of the value (taken at the lower of cost or current value) of its total assets (not including the amount borrowed) at the time the borrowing is made, and then only from banks as a temporary measure to facilitate the meeting of redemption requests (not for leverage) which might otherwise require the untimely disposition of portfolio investments or for extraordinary or emergency purposes. Such borrowings will be repaid before any additional investments are purchased.”

Putnam Global Natural Resources Fund

“Borrow money, except for temporary or emergency purposes and then in an amount not in excess of 5% of the market value of its total assets (not including the amount borrowed).”

Putnam Vista Fund

“Borrow money in excess of 10% of its net assets (taken at current value) and then only as a temporary measure for extraordinary or emergency reasons and not for investment purposes. (The fund may borrow only from banks and immediately after any such borrowings there must be an asset coverage (total assets of the fund including the amount borrowed less liabilities other than such borrowings) of at least 300% of the amount of all borrowings. In the event that, due to market decline or other reasons, such asset coverage should at any time fall below 300%, the fund is required within three days not including Sundays and holidays to reduce the amount of its borrowings to the extent necessary to cause the asset coverage of such borrowings to be at least 300%. If this should happen, the fund may have to sell securities at a time when it would be disadvantageous to do so.)”

Appendix P — Current Declaration of Trust Provisions with Respect to the Duration of the Trust

The proposed language in Proposal 4.A. would replace the following excerpts from each fund’s Declaration of Trust.

* * *

The George Putnam Fund of Boston

Article VI
Miscellaneous 

Termination of Trust

Section 3. This Trust shall terminate in any event upon the expiration of twenty-one (21) years after the death of the following persons, being the Trustees named herein and their children now living:

George Putnam, Charles M. Werly, S.H. Cunningham, Barbara Putnam, Katharine Putnam, Elizabeth Lowell Putnam, George Putnam, Jr., Helen Harte Putnam, Spurgeon Haddon Cunningham, Jr., James Hugh Cunningham, Nancy Jane Cunningham, John McKee Cunningham, Barbara Ann Cunningham, Cornelia Cunningham, Paul Gilmore Cunningham, Perry Oliver Cunningham, provided, however, that the Trustees shall have the power and authority to terminate this Trust at an earlier date by an instrument in writing setting forth such termination and by written notice thereof mailed, postage pre-paid, to the beneficiaries at their addresses as the same appear upon the records of the Trustees.

Upon termination of this Trust either by expiration or otherwise the Trustees shall make provision for the payment of the expenses and liabilities of the Trust and of the Trustees and upon the surrender of the certificates representing the shares of this Trust then outstanding distribute the remaining assets, or sell and dispose of all or any part thereof and distribute the net proceeds thereof in cash and/or securities among the holders of such shares in proportion to their holdings, except to the extent otherwise required or permitted by the preferences and special or relative rights and privileges of any classes of shares of the Trust, provided that any distribution to the beneficiaries of a

O/P-1

particular class of shares shall be made to such beneficiaries pro rata in proportion to the number of shares of such class held by each of them.

* * *

The Putnam Fund for Growth and Income

Article VI

Termination of Trust

Section 3. This Trust shall terminate in any event upon the expiration of twenty-one (21) years after the death of the last survivor of the six original Trustees named hereunder and of their children living as of October 1, 1957, provided, however, that the Trustees shall have the power and authority to terminate this Trust at an earlier date by an instrument in writing setting forth such termination and by written notice thereof mailed, postage prepaid, to the beneficiaries at their addresses as the same appear upon the records of the Trustees.

Upon the termination of this Trust either by expiration or otherwise the Trustees shall make provision for the payment of the expenses and liabilities of the Trust and of the Trustees and upon the surrender of the certificates representing the shares of this Trust then outstanding distribute the remaining assets, or sell and dispose of all or any part thereof and distribute the net proceeds thereof in cash and securities, or both, among the holders of such shares in proportion to their holdings, except to the extent otherwise required or permitted by the preferences and special or relative rights and privileges of any classes of shares of the Trust, provided that any distribution to the bene-ficiaries of a particular class of shares shall be made to such beneficiaries pro rata in proportion to the number of shares of such class held by each of them.

* * *

Putnam Money Market Fund

Article IX

Miscellaneous Termination of Trust

Section 4. The Trust may be terminated at any time by the Trustees by written notice to the Shareholders, and if not terminated earlier, shall terminate twenty years after the death of the last survivor of the initial Trustees and the following persons:

Ted Lawrence Benjamin, born October 7, 1966
Michael Steven Benjamin, born March 10, 1963
Robert Andrew Benjamin, born September 4, 1960
164 Prospect Street
Belmont, Massachusetts
(Children of Edward A. Benjamin)

Sarah Caroline Ellis, born August 11, 1974
45 Leewood Road
Wellesley, Massachusetts
(Daughter of Douglass N. Ellis, Jr.)

Russell A. Gaudreau, born July 3, 1972
302 Commonwealth Avenue
Boston, Massachusetts
(Son of Russell A. Gaudreau, Jr.)

Catherine Annesley Hanlon, born February 3, 1965
Susan Nelson Hanlon, born March 8, 1967
Jonathan Roger Hanlon, born December 21, 1970
Jennifer LaTourette Hanlon, born October 16, 1975
13 Moulton
Duxbury, Massachusetts
(Children of Francis X. Hanlon)

Eloise Paul Lawrence, born June 2, 1973
Abbott Wells Lawrence, born August 22, 1970
25 West Cedar Street
Boston, Massachusetts
(Children of Edward P. Lawrence)

Sarah Edgerly Pike, born September 26, 1967
William Abbott Pike, born August 2, 1966
Margaret Pike, born August 10, 1962
Susan Wendell Pike, born December 19, 1960
John Richmond Pike, born June 13, 1959
Conant Road
Lincoln, Massachusetts
(Children of John A. Pike)

* * *

Putnam Tax Exempt Income Fund

Article IX

Miscellaneous Termination of Trust

Section 4. The Trust may be terminated at any time by the Trustees by written notice to the Shareholders, and if not terminated earlier, shall terminate twenty years after the death of the last survivor of the initial Trustees and the following persons:

Ted Lawrence Benjamin, born October 7, 1966
Michael Steven Benjamin, born March 10, 1963
Robert Andrew Benjamin, born September 4, 1960
164 Prospect Street
Belmont, Massachusetts
(Children of Edward A. Benjamin)

Steven Yard Davenport, born May 22, 1975
27 Bogle Street
Weston, Massachusetts
(Son of David S. Davenport)
Sarah Caroline Ellis, born August 11, 1974
45 Leewood Road
Wellesley, Massachusetts
(Daughter of Douglass N. Ellis, Jr.)

Russell A. Gaudreau, born July 3, 1972
302 Commonwealth Avenue
Boston, Massachusetts
(Son of Russell A. Gaudreau, Jr.)

P-2

Catherine Annesley Hanlon, born February 3, 1965
Susan Nelson Hanlon, born March 8, 1967
Jonathan Roger Hanlon, born December 21, 1970
Jennifer LaTourette Hanlon, born October 16, 1975
13 Moulton Road
Duxbury, Massachusetts
(Children of Francis X. Hanlon)

Eloise Paul Lawrence, born June 2, 1973
Abbott Wells Lawrence, born August 22, 1970
25 West Cedar Street
Boston, Massachusetts
(Children of Edward P. Lawrence)

Sarah Edgerly Pike, born September 26, 1967
William Abbott Pike, born August 2, 1966
Margaret Pike, born August 10, 1962
Susan Wendell Pike, born December 19, 1960
John Richmond Pike, born June 13, 1959
Conant Road
Lincoln, Massachusetts
(Children of John A. Pike)

Appendix Q — Independent Public Accountants

As listed below, the Trustees have selected Pricewaterhouse-Coopers LLP, 125 High Street, Boston, Massachusetts 02110, or KPMG, 99 High Street, Boston, Massachusetts 02110, as the independent registered public accounting firm for each fund’s current fiscal year. These firms are among the country’s preeminent independent registered public accounting firms. Each firm was selected primarily on the basis of its expertise as auditors of investment companies, the quality of its audit services and the competitiveness of its fees. Representatives of each of

PricewaterhouseCoopers LLP and KPMG LLP are expected to be present at the meeting and to have the opportunity to make a statement and respond to appropriate questions.

The following table presents fees billed to each indicated fund in each of its last two fiscal years (with the most recent fiscal years ended between July 31, 2008 and June 30, 2009) by PricewaterhouseCoopers LLP:

  Putnam American Government Income Fund  Putnam AMT-Free Municipal Fund  Putnam Asset Allocation: Balanced Portfolio 
Audit Fees  Sept. 30, 2008 – $123,407  July 31, 2008 – $72,501  Sept. 30, 2008 – $253,212 
 
  Sept. 30, 2007 – $87,131  July 31, 2007 – $67,036  Sept. 30, 2007 – $205,254 
Audit-Related Fees  Sept. 30, 2008 – $0  July 31, 2008 – $0  Sept. 30, 2008 – $0 
 
  Sept. 30, 2007 – $78  July 31, 2007 – $10  Sept. 30, 2007 – $143 
Tax Fees  Sept. 30, 2008 – $6,126  July 31, 2008 – $7,408  Sept. 30, 2008 – $22,753 
 
  Sept. 30, 2007 – $5,389  July 31, 2007 – $6,774  Sept. 30, 2007 – $20,703 
All Other Fees *  Sept. 30, 2008 – $196  July 31, 2008 – $87  Sept. 30, 2008 – $684 
 
  Sept. 30, 2007 – $237  July 31, 2007 – $169  Sept. 30, 2007 – $2,919 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam American Government Income Fund: $196 and $175.
Putnam AMT-Free Municipal Fund: $87 and $41.
Putnam Asset Allocation: Balanced Portfolio: $684 and $562.

These fees were reimbursed to the fund by Putnam Investment Management, LLC (“Putnam Management”).

  Putnam Asset Allocation:     
  Conservative Portfolio  Putnam Asset Allocation: Growth Portfolio  Putnam Capital Opportunities Fund 
Audit Fees  Sept. 30, 2008 – $224,421  Sept. 30, 2008 – $261,803  April 30, 2009 – $78,270 
 
  Sept. 30, 2007 – $172,380  Sept. 30, 2007 – $207,427  April 30, 2008 – $82,521 
Audit-Related Fees  Sept. 30, 2008 – $0  Sept. 30, 2008 – $0  April 30, 2009 – $0 
 
  Sept. 30, 2007 – $36  Sept. 30, 2007 – $231  April 30, 2008 – $0 
Tax Fees  Sept. 30, 2008 – $21,548  Sept. 30, 2008 – $26,627  April 30, 2009 – $3,584 
 
  Sept. 30, 2007 – $20,703  Sept. 30, 2007 – $21,401  April 30, 2008 – $3,421 
All Other Fees *  Sept. 30, 2008 – $318  Sept. 30, 2008 – $768  April 30, 2009 – $866 
 
  Sept. 30, 2007 – $2,612  Sept. 30, 2007 – $1,866  April 30, 2008 – $590 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam Asset Allocation: Conservative Portfolio: $318 and $259.
Putnam Asset Allocation: Growth Portfolio: $768 and $575.
Putnam Capital Opportunities Fund: $866 and $590.

These fees were reimbursed to the fund by Putnam Management.

Q-1

  Putnam Europe Equity Fund  The Putnam Fund for Growth and Income  The George Putnam Fund of Boston 
Audit Fees  June 30, 2009 – $83,907  Oct. 31, 2008 – $309,209  July 31, 2008 – $338,593 
 
  June 30, 2008 – $82,622  Oct. 31, 2007 – $366,894  July 31, 2007 – $261,656 
Audit-Related Fees  June 30, 2009 – $0  Oct. 31, 2008 – $0  July 31, 2008 – $0 
 
  June 30, 2008 – $0  Oct. 31, 2007 – $1,454  July 31, 2007 – $313 
Tax Fees  June 30, 2009 – $5,532  Oct. 31, 2008 – $5,892  July 31, 2008 – $12,755 
 
  June 30, 2008 – $5,245  Oct. 31, 2007 – $6,883  July 31, 2007 – $9,550 
All Other Fees *  June 30, 2009 – $400  Oct. 31, 2008 – $3,975  July 31, 2008 – $1,247 
 
  June 30, 2008 – $161  Oct. 31, 2007 – $5,019  July 31, 2007 – $4,535 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam Europe Equity Fund: $400 and $161.
The Putnam Fund for Growth and Income: $3,975 and $3,707.
The George Putnam Fund of Boston: $1,247 and $2,992.

These fees were reimbursed to the fund by Putnam Management.

  Putnam Global Health Care Fund  Putnam Global Income Trust  Putnam Global Utilities Fund 
Audit Fees  Aug. 31, 2008 – $95,606  Oct. 31, 2008 – $177,421  Oct. 31, 2008 – $76,808 
 
  Aug. 31, 2007 – $92,222  Oct. 31, 2007 – $129,686  Oct. 31, 2007 – $72,341 
Audit-Related Fees  Aug. 31, 2008 – $0  Oct. 31, 2008 – $0  Oct. 31, 2008 – $0 
 
  Aug. 31, 2007 – $352  Oct. 31, 2007 – $19  Oct. 31, 2007 – $64 
Tax Fees  Aug. 31, 2008 – $11,409  Oct. 31, 2008 – $17,046  Oct. 31, 2008 – $6,412 
 
  Aug. 31, 2007 – $9,154  Oct. 31, 2007 – $10,836  Oct. 31, 2007 – $11,470 
All Other Fees *  Aug. 31, 2008 – $572  Oct. 31, 2008 – $36  Oct. 31, 2008 – $177 
 
  Aug. 31, 2007 – $748  Oct. 31, 2007 – $43  Oct. 31, 2007 – $218 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam Global Health Care Fund: $575 and $555.
Putnam Global Income Trust: $36 and $31.
Putnam Global Utilities Fund: $177 and $159.

These fees were reimbursed to the fund by Putnam Management.

    Putnam International Capital   
  Putnam Income Strategies Fund  Opportunities Fund  Putnam International Equity Fund 
Audit Fees  Feb. 28, 2009 – $101,699  Aug. 31, 2008 – $116,023  June 30, 2009 – $204,322 
 
  Feb. 29, 2008 – $92,828  Aug. 31, 2007 – $95,986  June 30, 2008 – $232,792 
Audit-Related Fees  Feb. 28, 2009 – $0  Aug. 31, 2008 – $0  June 30, 2009 – $0 
 
  Feb. 29, 2008 – $0  Aug. 31, 2007 – $225  June 30, 2008 – $0 
Tax Fees  Feb. 28, 2009 – $5,084  Aug. 31, 2008 – $12,165  June 30, 2009 – $12,571 
 
  Feb. 29, 2008 – $4,581  Aug. 31, 2007 – $12,443  June 30, 2008 – $19,434 
All Other Fees *  Feb. 28, 2009 – $0  Aug. 31, 2008 – $621  June 30, 2009 – $5,162 
 
  Feb. 29, 2008 – $0  Aug. 31, 2007 – $638  June 30, 2008 – $2,012 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam International Capital Opportunities Fund: $621 and $466.
Putnam International Equity Fund: $5,162 and $2,012.

These fees were reimbursed to the fund by Putnam Management.

Q-2

  Putnam International Growth  Putnam International New  Putnam Massachusetts Tax Exempt 
  and Income Fund  Opportunities Fund  Income Fund 
Audit Fees  June 30, 2009 – $90,790  Sept. 30, 2008 – $85,862  May 31, 2009 – $64,228 
 
  June 30, 2008 – $88,373  Sept. 30, 2007 – $80,538  May 31, 2008 – $57,166 
Audit-Related Fees  June 30, 2009 – $0  Sept. 30, 2008 – $0  May 31, 2009 – $0 
 
  June 30, 2008 – $0  Sept. 30, 2007 – $155  May 31, 2008 – $0 
Tax Fees  June 30, 2009 – $8,828  Sept. 30, 2008 – $11,446  May 31, 2009 – $8,044 
 
  June 30, 2008 – $8,623  Sept. 30, 2007 – $12,085  May 31, 2008 – $7,620 
All Other Fees *  June 30, 2009 – $869  Sept. 30, 2008 – $244  May 31, 2009 – $523 
 
  June 30, 2008 – $336  Sept. 30, 2007 – $278  May 31, 2008 – $82 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam International Growth and Income Fund: $869 and $336.
Putnam International New Opportunities Fund: $244 and $204.
Putnam Massachusetts Tax Exempt Income Fund: $523 and $82.

These fees were reimbursed to the fund by Putnam Management.

  Putnam Michigan Tax Exempt Income Fund  Putnam Minnesota Tax Exempt Income Fund  Putnam Money Market Fund 
Audit Fees  May 31, 2009 – $55,152  May 31, 2009 – $57,337  Sept. 30, 2008 – $148,400 
 
  May 31, 2008 – $50,078  May 31, 2008 – $51,994  Sept. 30, 2007 – $119,165 
Audit-Related Fees  May 31, 2009 – $0  May 31, 2009 – $0  Sept. 30, 2008 – $0 
 
  May 31, 2008 – $0  May 31, 2008 – $0  Sept. 30, 2007 – $352 
Tax Fees  May 31, 2009 – $8,044  May 31, 2009 – $8,044  Sept. 30, 2008 – $2,864 
 
  May 31, 2008 – $7,494  May 31, 2008 – $7,491  Sept. 30, 2007 – $3,274 
All Other Fees *  May 31, 2009 – $181  May 31, 2009 – $179  Sept. 30, 2008 – $1,065 
 
  May 31, 2008 – $32  May 31, 2008 – $30  Sept. 30, 2007 – $1,123 

Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam Michigan Tax Exempt Income Fund: $181 and $32.
Putnam Minnesota Tax Exempt Income Fund: $179 and $30.
Putnam Money Market Fund: $1,065 and $823.

These fees were reimbursed to the fund by Putnam Management.

  Putnam New Jersey Tax Exempt     
  Income Fund  Putnam New Opportunities Fund  Putnam Ohio Tax Exempt Income Fund 
Audit Fees  May 31, 2009 – $61,059  June 30, 2009 – $159,316  May 31, 2009 – $61,646 
 
  May 31, 2008 – $54,374  June 30, 2008 – $154,131  May 31, 2008 – $55,367 
Audit-Related Fees  May 31, 2009 – $0  June 30, 2009 – $0  May 31, 2009 – $0 
 
  May 31, 2008 – $0  June 30, 2008 – $0  May 31, 2008 – $0 
Tax Fees  May 31, 2009 – $8,044  June 30, 2009 – $3,885  May 31, 2009 – $8,044 
 
  May 31, 2008 – $7,558  June 30, 2008 – $3,596  May 31, 2008 – $7,536 
All Other Fees *  May 31, 2009 – $386  June 30, 2009 – $3,894  May 31, 2009 – $291 
 
  May 31, 2008 – $57  June 30, 2008 – $1,221  May 31, 2008 – $44 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam New Jersey Tax Exempt Income Fund: $386 and $57.
Putnam New Opportunities Fund: $3,894 and $1,221.
Putnam Ohio Tax Exempt Income Fund: $291 and $44.

These fees were reimbursed to the fund by Putnam Management.

Q-3

  Putnam Pennsylvania Tax Exempt     
  Income Fund  Putnam RetirementReady 2010 Fund  Putnam RetirementReady 2015 Fund 
Audit Fees  May 31, 2009 – $59,679  July 31, 2008 – $14,050  July 31, 2008 – $28,788 
 
  May 31, 2008 – $53,493  July 31, 2007 – $12,501  July 31, 2007 – $22,976 
Audit-Related Fees  May 31, 2009 – $0  July 31, 2008 – $0  July 31, 2008 – $0 
 
  May 31, 2008 – $0  July 31, 2007 – $0  July 31, 2007 – $0 
Tax Fees  May 31, 2009 – $8,044  July 31, 2008 – $3,455  July 31, 2008 – $7,080 
 
  May 31, 2008 – $7,533  July 31, 2007 – $2,706  July 31, 2007 – $4,973 
All Other Fees *  May 31, 2009 – $308  July 31, 2008 – $0  July 31, 2008 – $0 
 
  May 31, 2008 – $47  July 31, 2007 – $0  July 31, 2007 – $0 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam Pennsylvania Tax Exempt Income Fund: $308 and $47.

These fees were reimbursed to the fund by Putnam Management.

  Putnam RetirementReady 2020 Fund  Putnam RetirementReady 2025 Fund  Putnam RetirementReady 2030 Fund 
Audit Fees  July 31, 2008 – $30,072  July 31, 2008 – $26,338  July 31, 2008 – $20,645 
 
  July 31, 2007 – $25,565  July 31, 2007 – $21,228  July 31, 2007 – $15,960 
Audit-Related Fees  July 31, 2008 – $0  July 31, 2008 – $0  July 31, 2008 – $0 
 
  July 31, 2007 – $0  July 31, 2007 – $0  July 31, 2007 – $0 
Tax Fees  July 31, 2008 – $7,396  July 31, 2008 – $6,477  July 31, 2008 – $5,077 
 
  July 31, 2007 – $5,534  July 31, 2007 – $4,595  July 31, 2007 – $3,455 
All Other Fees *  July 31, 2008 – $0  July 31, 2008 – $0  July 31, 2008 – $0 
 
  July 31, 2007 – $0  July 31, 2007 – $0  July 31, 2007 – $0 
  Putnam RetirementReady 2035 Fund  Putnam RetirementReady 2040 Fund  Putnam RetirementReady 2045 Fund 
Audit Fees  July 31, 2008 – $15,319  July 31, 2008 – $9,690  July 31, 2008 – $6,947 
 
  July 31, 2007 – $11,285  July 31, 2007 – $7,239  July 31, 2007 – $5,495 
Audit-Related Fees  July 31, 2008 – $0  July 31, 2008 – $0  July 31, 2008 – $0 
 
  July 31, 2007 – $0  July 31, 2007 – $0  July 31, 2007 – $0 
Tax Fees  July 31, 2008 – $3,767  July 31, 2008 – $2,383  July 31, 2008 – $1,709 
 
  July 31, 2007 – $2,443  July 31, 2007 – $1,567  July 31, 2007 – $1,189 
All Other Fees *  July 31, 2008 – $0  July 31, 2008 – $0  July 31, 2008 – $0 
 
  July 31, 2007 – $0  July 31, 2007 – $0  July 31, 2007 – $0 
  Putnam RetirementReady 2050 Fund  Putnam RetirementReady Maturity Fund  Putnam Small Cap Growth Fund 
Audit Fees  July 31, 2008 – $3,373  July 31, 2008 – $7,424  June 30, 2009 – $68,676 
 
  July 31, 2007 – $1,631  July 31, 2007 – $6,708  June 30, 2008 – $69,620 
Audit-Related Fees  July 31, 2008 – $0  July 31, 2008 – $0  June 30, 2009 – $0 
 
  July 31, 2007 – $0  July 31, 2007 – $0  June 30, 2008 – $0 
Tax Fees  July 31, 2008 – $830  July 31, 2008 – $1,826  June 30, 2009 – $4,558 
 
  July 31, 2007 – $353  July 31, 2007 – $1,452  June 30, 2008 – $4,260 
All Other Fees *  July 31, 2008 – $0  July 31, 2008 – $0  June 30, 2009 – $366 
 
  July 31, 2007 – $0  July 31, 2007 – $0  June 30, 2008 – $144 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam Small Cap Growth Fund: $366 and $144.

These fees were reimbursed to the fund by Putnam Management.

Q-4

  Putnam Tax Exempt Money Market Fund  Putnam Tax-Free High Yield Fund  Putnam Voyager Fund 
Audit Fees  Sept. 30, 2008 – $60,542  July 31, 2008 – $105,371  July 31, 2008 – $212,512 
 
  Sept. 30, 2007 – $53,714  July 31, 2007 – $101,968  July 31, 2007 – $200,657 
Audit-Related Fees  Sept. 30, 2008 – $0  July 31, 2008 – $0  July 31, 2008 – $0 
 
  Sept. 30, 2007 – $7  July 31, 2007 – $46  July 31, 2007 – $1,405 
Tax Fees  Sept. 30, 2008 – $2,819  July 31, 2008 – $9,140  July 31, 2008 – $5,064 
 
  Sept. 30, 2007 – $2,592  July 31, 2007 – $7,921  July 31, 2007 – $4,395 
All Other Fees *  Sept. 30, 2008 – $22  July 31, 2008 – $386  July 31, 2008 – $2,001 
 
  Sept. 30, 2007 – $27  July 31, 2007 – $769  July 31, 2007 – $11,411 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam Tax Exempt Money Market Fund: $22 and $20
Putnam Tax-Free High Yield Fund: $386 and $640.
Putnam Voyager Fund: $2,001 and $10,736.

These fees were reimbursed to the fund by Putnam Management.

  Putnam VT American Government     
  Income Fund  Putnam VT Capital Opportunities Fund  Putnam VT Diversified Income Fund 
Audit Fees  Dec. 31, 2008 – $73,390  Dec. 31, 2008 – $38,925  Dec. 31, 2008 – $179,819 
 
  Dec. 31, 2007 – $47,194  Dec. 31, 2007 – $36,317  Dec. 31, 2007 – $119,906 
Audit-Related Fees  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0 
 
  Dec. 31, 2007 – $19  Dec. 31, 2007 – $7  Dec. 31, 2007 – $56 
Tax Fees  Dec. 31, 2008 – $3,032  Dec. 31, 2008 – $1,985  Dec. 31, 2008 – $18,674 
 
  Dec. 31, 2007 – $2,758  Dec. 31, 2007 – $1,838  Dec. 31, 2007 – $7,629 
All Other Fees *  Dec. 31, 2008 – $286  Dec. 31, 2008 – $38  Dec. 31, 2008 – $561 
 
  Dec. 31, 2007 – $77  Dec. 31, 2007 – $26  Dec. 31, 2007 – $261 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam VT American Government Income Fund: $286 and $77.
Putnam VT Capital Opportunities Fund: $38 and $26.
Putnam VT Diversified Income Fund: $561 and $261.

These fees were reimbursed to the fund by Putnam Management.

    Putnam VT The George Putnam Fund   
  Putnam VT Equity Income Fund  of Boston  Putnam VT Global Asset Allocation Fund 
Audit Fees  Dec. 31, 2008 – $44,359  Dec. 31, 2008 – $132,678  Dec. 31, 2008 – $165,526 
 
  Dec. 31, 2007 – $40,021  Dec. 31, 2007 – $95,151  Dec. 31, 2007 – $114,993 
Audit-Related Fees  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0 
 
  Dec. 31, 2007 – $20  Dec. 31, 2007 – $65  Dec. 31, 2007 – $44 
Tax Fees  Dec. 31, 2008 – $1,985  Dec. 31, 2008 – $5,743  Dec. 31, 2008 – $10,521 
 
  Dec. 31, 2007 – $1,838  Dec. 31, 2007 – $5,147  Dec. 31, 2007 – $11,923 
All Other Fees *  Dec. 31, 2008 – $280  Dec. 31, 2008 – $421  Dec. 31, 2008 – $383 
 
  Dec. 31, 2007 – $134  Dec. 31, 2007 – $310  Dec. 31, 2007 – $210 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam VT Equity Income Fund: $280 and $134.
Putnam VT The George Putnam Fund of Boston: $421 and 310.
Putnam VT Global Asset Allocation Fund: $383 and $210.

These fees were reimbursed to the fund by Putnam Management.

Q-5

  Putnam VT Global Equity Fund  Putnam VT Global Health Care Fund  Putnam VT Global Utilities Fund 
Audit Fees  Dec. 31, 2008 – $78,147  Dec. 31, 2008 – $42,990  Dec. 31, 2008 – $47,501 
 
  Dec. 31, 2007 – $71,977  Dec. 31, 2007 – $37.536  Dec. 31, 2007 – $44,936 
Audit-Related Fees  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0 
 
  Dec. 31, 2007 – $90  Dec. 31, 2007 – $37  Dec. 31, 2007 – $48 
Tax Fees  Dec. 31, 2008 – $11,241  Dec. 31, 2008 – $9,344  Dec. 31, 2008 – $6,517 
 
  Dec. 31, 2007 – $11,660  Dec. 31, 2007 – $7,647  Dec. 31, 2007 – $8,279 
All Other Fees *  Dec. 31, 2008 – $450  Dec. 31, 2008 – $255  Dec. 31, 2008 – $418 
 
  Dec. 31, 2007 – $319  Dec. 31, 2007 – $132  Dec. 31, 2007 – $202 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam VT Global Equity Fund: $450 and $319.
Putnam VT Global Health Care Fund: $255 and $132.
Putnam VT Global Utilities Fund: $418 and $202.

These fees were reimbursed to the fund by Putnam Management.

  Putnam VT Growth and Income Fund  Putnam VT Growth Opportunities Fund  Putnam VT High Yield Fund 
Audit Fees  Dec. 31, 2008 – $126,888  Dec. 31, 2008 – $46,655  Dec. 31, 2008 – $98,876 
 
  Dec. 31, 2007 – $127,557  Dec. 31, 2007 – $43,383  Dec. 31, 2007 – $89,905 
Audit-Related Fees  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0 
 
  Dec. 31, 2007 – $318  Dec. 31, 2007 – $13  Dec. 31, 2007 – $64 
Tax Fees  Dec. 31, 2008 – $3,258  Dec. 31, 2008 – $2,321  Dec. 31, 2008 – $4,831 
 
  Dec. 31, 2007 – $3,050  Dec. 31, 2007 – $2,168  Dec. 31, 2007 – $4,522 
All Other Fees *  Dec. 31, 2008 – $2,787  Dec. 31, 2008 – $41  Dec. 31, 2008 – $585 
 
  Dec. 31, 2007 – $2,018  Dec. 31, 2007 – $25  Dec. 31, 2007 – $306 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam VT Growth and Income Fund: $2,787 and $2,018.
Putnam VT Growth Opportunities Fund: $41 and $25.
Putnam VT High Yield Fund: $585 and $306.

These fees were reimbursed to the fund by Putnam Management.

      Putnam VT International Growth and 
  Putnam VT Income Fund  Putnam VT International Equity Fund  Income Fund 
Audit Fees  Dec. 31, 2008 – $156,202  Dec. 31, 2008 – $88,885  Dec. 31, 2008 – $61,478 
 
  Dec. 31, 2007 – $110,648  Dec. 31, 2007 – $77,760  Dec. 31, 2007 – $56,092 
Audit-Related Fees  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0 
 
  Dec. 31, 2007 – $80  Dec. 31, 2007 – $147  Dec. 31, 2007 – $51 
Tax Fees  Dec. 31, 2008 – $3,996  Dec. 31, 2008 – $10,669  Dec. 31, 2008 – $7,467 
 
  Dec. 31, 2007 – $3,420  Dec. 31, 2007 – $9,254  Dec. 31, 2007 – $6,943 
All Other Fees *  Dec. 31, 2008 – $727  Dec. 31, 2008 – $1,081  Dec. 31, 2008 – $333 
 
  Dec. 31, 2007 – $388  Dec. 31, 2007 – $682  Dec. 31, 2007 – $240 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam VT International Equity Fund: $1,081 and $682.
Putnam VT International Growth and Income Fund: $333 and $240.

These fees were reimbursed to the fund by Putnam Management.

Q-6

  Putnam VT International New     
  Opportunities Fund  Putnam VT Investors Fund  Putnam VT Mid Cap Value Fund 
Audit Fees  Dec. 31, 2008 – $57,685  Dec. 31, 2008 – $49,673  Dec. 31, 2008 – $37,566 
 
  Dec. 31, 2007 – $52,496  Dec. 31, 2007 – $45,467  Dec. 31, 2007 – $35,218 
Audit-Related Fees  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0 
 
  Dec. 31, 2007 – $29  Dec. 31, 2007 – $79  Dec. 31, 2007 – $16 
Tax Fees  Dec. 31, 2008 – $8,450  Dec. 31, 2008 – $2,322  Dec. 31, 2008 – $1,985 
 
  Dec. 31, 2007 – $9,725  Dec. 31, 2007 – $2,168  Dec. 31, 2007 – $1,838 
All Other Fees *  Dec. 31, 2008 – $229  Dec. 31, 2008 – $470  Dec. 31, 2008 – $61 
 
  Dec. 31, 2007 – $155  Dec. 31, 2007 – $245  Dec. 31, 2007 – $53 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam VT International New Opportunities Fund: $229 and $155.
Putnam VT Investors Fund: $470 and $245.
Putnam VT Mid Cap Value Fund: $61 and $53.

These fees were reimbursed to the fund by Putnam Management.

  Putnam VT Money Market Fund  Putnam VT New Opportunities Fund  Putnam VT Research Fund 
Audit Fees  Dec. 31, 2008 – $68,749  Dec. 31, 2008 – $60,816  Dec. 31, 2008 – $42,744 
 
  Dec. 31, 2007 – $58,079  Dec. 31, 2007 – $57,012  Dec. 31, 2007 – $39,986 
Audit-Related Fees  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0 
 
  Dec. 31, 2007 – $39  Dec. 31, 2007 – $150  Dec. 31, 2007 – $32 
Tax Fees  Dec. 31, 2008 – $1,884  Dec. 31, 2008 – $2,322  Dec. 31, 2008 – $2,547 
 
  Dec. 31, 2007 – $1,764  Dec. 31, 2007 – $2,168  Dec. 31, 2007 – $2,389 
All Other Fees *  Dec. 31, 2008 – $1,004  Dec. 31, 2008 – $981  Dec. 31, 2008 – $128 
 
  Dec. 31, 2007 – $228  Dec. 31, 2007 – $640  Dec. 31, 2007 – $88 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam VT Money Market Fund: $1,004 and $228.
Putnam VT New Opportunities Fund: $981 and $640.
Putnam VT Research Fund: $128 and $88.

These fees were reimbursed to the fund by Putnam Management.

  Putnam VT Small Cap Value Fund  Putnam VT Vista Fund  Putnam VT Voyager Fund 
Audit Fees  Dec. 31, 2008 – $51,240  Dec. 31, 2008 – $57,565  Dec. 31, 2008 – $89,983 
 
  Dec. 31, 2007 – $50,158  Dec. 31, 2007 – $54,037  Dec. 31, 2007 – $84,229 
Audit-Related Fees  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0  Dec. 31, 2008 – $0 
 
  Dec. 31, 2007 – $108  Dec. 31, 2007 – $58  Dec. 31, 2007 – $251 
Tax Fees  Dec. 31, 2008 – $2,472  Dec. 31, 2008 – $2,322  Dec. 31, 2008 – $2,322 
 
  Dec. 31, 2007 – $2,315  Dec. 31, 2007 – $2,168  Dec. 31, 2007 – $2,168 
All Other Fees *  Dec. 31, 2008 – $433  Dec. 31, 2008 – $275  Dec. 31, 2008 – $1,421 
 
  Dec. 31, 2007 – $416  Dec. 31, 2007 – $209  Dec. 31, 2007 – $903 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters in each of its last two fiscal years, beginning with the fee for the most recent fiscal year:

Putnam VT Small Cap Value Fund: $433 and $416.
Putnam VT Vista Fund: $275 and $209.
Putnam VT Voyager Fund: $1,421 and $903.

These fees were reimbursed to the fund by Putnam Management.

Q-7

The following table presents fees billed to each indicated fund in each of its last two fiscal years (with the most recent fiscal years ended between July 31, 2008 and June 30, 2009) by KPMG LLP:

  Putnam Arizona Tax Exempt Income Fund  Putnam California Tax Exempt Income Fund  Putnam Convertible Income-Growth Trust 
Audit Fees  May 31, 2009 – $40,642  Sept. 30, 2008 – $53,100  Oct. 31, 2008 – $40,600 
 
  May 31, 2008 – $50,350  Sept. 30, 2007 – $54,050  Oct. 31, 2007 – $37,550 
Audit-Related Fees  May 31, 2009 – $0  Sept. 30, 2008 – $0  Oct. 31, 2008 – $0 
 
  May 31, 2008 – $0  Sept. 30, 2007 – $0  Oct. 31, 2007 – $0 
Tax Fees  May 31, 2009 – $6,100  Sept. 30, 2008 – $6,000  Oct. 31, 2008 – $3,900 
 
  May 31, 2008 – $5,450  Sept. 30, 2007 – $5,450  Oct. 31, 2007 – $3,550 
All Other Fees  May 31, 2009 – $0  Sept. 30, 2008 – $0  Oct. 31, 2008 – $0 
 
  May 31, 2008 – $0  Sept. 30, 2007 – $0  Oct. 31, 2007 – $0 
  Putnam Diversified Income Trust  Putnam Equity Income Fund  Putnam Floating Rate Income Fund 
Audit Fees  Sept. 30, 2008 – $97,075  Nov. 30, 2008 – $47,200  Feb. 28, 2009 – $85,975 
 
  Sept. 30, 2007 – $80,800  Nov. 30, 2007 – $43,650  Feb. 29, 2008 – $76,750 
Audit-Related Fees  Sept. 30, 2008 – $0  Nov. 30, 2008 – $0  Feb. 28, 2009 – $0 
 
  Sept. 30, 2007 – $0  Nov. 30, 2007 – $0  Feb. 29, 2008 – $0 
Tax Fees  Sept. 30, 2008 – $6,000  Nov. 30, 2008 – $3,900  Feb. 28, 2009 – $6,550 
 
  Sept. 30, 2007 – $5,450  Nov. 30, 2007 – $3,550  Feb. 29, 2008 – $5,950 
All Other Fees  Sept. 30, 2008 – $0  Nov. 30, 2008 – $0  Feb. 28, 2009 – $0 
 
  Sept. 30, 2007 – $0  Nov. 30, 2007 – $0  Feb. 29, 2008 – $0 
  Putnam Global Equity Fund  Putnam Global Natural Resources Fund  Putnam Growth Opportunities Fund 
Audit Fees  Oct. 31, 2008 – $54,050  Aug. 31, 2008 – $43,100  July 31, 2008 – $40,600 
 
  Oct. 31, 2007 – $49,950  Aug. 31, 2007 – $39,850  July 31, 2007 – $38,701* 
Audit-Related Fees  Oct. 31, 2008 – $0  Aug. 31, 2008 – $0  July 31, 2008 – $0 
 
  Oct. 31, 2007 – $0  Aug. 31, 2007 – $0  July 31, 2007 – $0 
Tax Fees  Oct. 31, 2008 – $4,450  Aug. 31, 2008 – $3,900  July 31, 2008 – $3,900 
 
  Oct. 31, 2007 – $4,050  Aug. 31, 2007 – $3,550  July 31, 2007 – $3,550 
All Other Fees  Oct. 31, 2008 – $0  Aug. 31, 2008 – $0  July 31, 2008 – $0 
 
  Oct. 31, 2007 – $0  Aug. 31, 2007 – $0  July 31, 2007 – $0 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters.

Putnam Growth Opportunities Fund: $1,151.

These fees were reimbursed to the fund by Putnam Management.

  Putnam High Yield Advantage Fund  Putnam High Yield Trust  Putnam Income Fund 
Audit Fees  Nov. 30, 2008 – $75,475  Aug. 31, 2008 – $66,000  Oct. 31, 2008 – $100,675 
 
  Nov. 30, 2007 – $69,650  Aug. 31, 2007 – $61,050  Oct. 31, 2007 – $93,178 
Audit-Related Fees  Nov. 30, 2008 – $0  Aug. 31, 2008 – $0  Oct. 31, 2008 – $0 
 
  Nov. 30, 2007 – $0  Aug. 31, 2007 – $0  Oct. 31, 2007 – $0 
Tax Fees  Nov. 30, 2008 – $4,200  Aug. 31, 2008 – $6,000  Oct. 31, 2008 – $6,000 
 
  Nov. 30, 2007 – $3,800  Aug. 31, 2007 – $5,450  Oct. 31, 2007 – $5,450 
All Other Fees  Nov. 30, 2008 – $0  Aug. 31, 2008 – $0  Oct. 31, 2008 – $0 
 
  Nov. 30, 2007 – $0  Aug. 31, 2007 – $0  Oct. 31, 2007 – $0 
  Putnam Investors Fund  Putnam Mid Cap Value Fund  Putnam New York Tax Exempt Income Fund 
Audit Fees  July 31, 2008 – $43,900  April 30, 2009 – $40,925  Nov. 30, 2008 – $57,500 
 
  July 31, 2007 – $47,174 *  April 30, 2008 – $37,550  Nov. 30, 2007 – $58,450 
Audit-Related Fees  July 31, 2008 – $0  April 30, 2009 – $0  Nov. 30, 2008 – $0 
 
  July 31, 2007 – $0  April 30, 2008 – $0  Nov. 30, 2007 – $0 
Tax Fees  July 31, 2008 – $3,900  April 30, 2009 – $3,900  Nov. 30, 2008 – $6,000 
 
  July 31, 2007 – $3,550  April 30, 2008 – $3,550  Nov. 30, 2007 – $5,450 
All Other Fees  July 31, 2008 – $0  April 30, 2009 – $0  Nov. 30, 2008 – $0 
 
  July 31, 2007 – $0  April 30, 2008 – $0  Nov. 30, 2007 – $0 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters.

Putnam Investors Fund: $6,624.

These fees were reimbursed to the fund by Putnam Management.

Q-8

  Putnam Research Fund  Putnam Small Cap Value Fund  Putnam Tax Exempt Income Fund 
Audit Fees  July 31, 2008 – $42,000  Feb. 28, 2009 – $44,412  Sept. 30, 2008 – $53,100 
 
  July 31, 2007 – $40,321 *  Feb. 29, 2008 – $42,050  Sept. 30, 2007 – $59,050 
Audit-Related Fees  July 31, 2008 – $0  Feb. 28, 2009 – $0  Sept. 30, 2008 – $0 
 
  July 31, 2007 – $0  Feb. 29, 2008 – $0  Sept. 30, 2007 – $10,635 ** 
Tax Fees  July 31, 2008 – $3,900  Feb. 28, 2009 – $3,900  Sept. 30, 2008 – $6,000 
 
  July 31, 2007 – $3,550  Feb. 29, 2008 – $3,550  Sept. 30, 2007 – $5,450 
All Other Fees  July 31, 2008 – $0  Feb. 28, 2009 – $0  Sept. 30, 2008 – $0 
 
  July 31, 2007 – $0  Feb. 29, 2008 – $0  Sept. 30, 2007 – $0 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters.

Putnam Research Fund: $1,471.

These fees were reimbursed to the fund by Putnam Management. **Fees billed to the fund for services relating to a fund merger.

  Putnam U.S. Government Income Trust  Putnam Vista Fund 
Audit Fees  Sept. 30, 2008 – $90,725  July 31, 2008 – $40,600 
 
  Sept. 30, 2007 – $85,073  July 31, 2007 – $41,778* 
Audit-Related Fees  Sept. 30, 2008 – $0  July 31, 2008 – $0 
 
  Sept. 30, 2007 – $15,818 **  July 31, 2007 – $0 
Tax Fees  Sept. 30, 2008 – $4,450  July 31, 2008 – $3,900 
 
  Sept. 30, 2007 – $4,050  July 31, 2007 – $3,550 
All Other Fees *  Sept. 30, 2008 – $0  July 31, 2008 – $0 
 
  Sept. 30, 2007 – $0  July 31, 2007 – $0 

* Includes the following fees billed by the fund’s independent auditor to the fund for procedures necessitated by regulatory and litigation matters.

Putnam Vista Fund: $4,228.

**Fees billed to the fund for services relating to a fund merger.

As of the date of this proxy statement, the following funds had not yet completed a full fiscal year of operations: Putnam Absolute Return 500 Fund, Putnam Absolute Return 700 Fund, Putnam Asset Allocation: Equity Portfolio, and Putnam Capital Spectrum Fund (each audited by PricewaterhouseCoopers LLP); and Putnam Absolute Return 100 Fund, Putnam Absolute Return 300 Fund, Putnam Asia Pacific Equity Fund, Putnam Equity Spectrum Fund, Putnam Emerging Markets Equity Fund, Putnam Global Consumer Fund, Putnam Global Energy Fund, Putnam Global Financials Fund, Putnam Global Industrials Fund, Putnam Global Technology Fund, Putnam Global Telecommunications Fund, and Putnam Money Market Liquidity Fund (each audited by KPMG LLP).

Audit Fees represent fees billed for a fund’s last two fiscal years relating to the audit and review of the financial statements included in annual reports and registration statements, and other services that are normally provided in connection with statutory and regulatory filings or engagements. Audit-Related Fees represent fees billed in a fund’s last two fiscal years for services traditionally performed by the fund’s independent registered public accounting firm, including accounting consultation for proposed transactions or concerning financial accounting and reporting standards and other audit or attest services not required by statute or regulation.

Tax Fees represent fees billed in a fund’s last two fiscal years for tax compliance, tax planning and tax advice services. Tax planning and tax advice services include assistance with tax audits, employee benefit plans and requests for rulings or technical advice from taxing authorities.

All Other Fees represent fees billed for services relating to analysis of proposed market timing distributions, recordkeeping fees and regulatory and litigation matters.

The following tables present the amounts the independent auditors billed for aggregate non-audit fees to each fund, Putnam Management and any entity controlling, controlled by or under common control with Putnam Management that provides ongoing services to the fund in each of the fund’s last two fiscal years (with the most recent fiscal years ended between July 31, 2008 and June 30, 2009):

Q-9

PricewaterhouseCoopers LLP:

  Putnam American Government Income Fund  Putnam AMT-Free Municipal Fund  Putnam Asset Allocation: Balanced Portfolio 
Non-Audit Fees  Sept. 30, 2008 – $84,561  July 31, 2008 – $85,734  Sept. 30, 2008 – $101,676 
 
  Sept. 30, 2007 – $108,911  July 31, 2007 – $122,169  Sept. 30, 2007 – $126,972 
  Putnam Asset Allocation:     
  Conservative Portfolio  Putnam Asset Allocation: Growth Portfolio  Putnam Capital Opportunities Fund 
Non-Audit Fees  Sept. 30, 2008 – $100,105  Sept. 30, 2008 – $105,633  April 30, 2009 – $485,409 
 
  Sept. 30, 2007 – $126,557  Sept. 30, 2007 – $126,705  April 30, 2008 – $51,073 
  Putnam Europe Equity Fund  The Putnam Fund for Growth and Income  The George Putnam Fund of Boston 
Non-Audit Fees  June 30, 2009 – $472,757  Oct. 31, 2008 – $88,106  July 31, 2008 – $92,241 
 
  June 30, 2008 – $52,468  Oct. 31, 2007 – $118,562  July 31, 2007 – $129,614 
  Putnam Global Health Care Fund  Putnam Global Income Trust  Putnam Global Utilities Fund 
Non-Audit Fees  Aug. 31, 2008 – $90,221  Oct. 31, 2008 – $95,322  Oct. 31, 2008 – $84,828 
 
  Aug. 31, 2007 – $125,470  Oct. 31, 2007 – $116,104  Oct. 31, 2007 – $116,659 
    Putnam International Capital   
  Putnam Income Strategies Fund  Opportunities Fund  Putnam International Equity Fund 
Non-Audit Fees  Feb. 28, 2009 – $373,674  Aug. 31, 2008 – $91,025  June 30, 2009 – $484,558 
 
  Feb. 29, 2008 – $57,774  Aug. 31, 2007 – $128,522  June 30, 2008 – $68,508 
  Putnam International Growth and  Putnam International New  Putnam Massachusetts Tax Exempt 
  Income Fund  Opportunities Fund  Income Fund 
Non-Audit Fees  June 30, 2009 – $476,522  Sept. 30, 2008 – $89,929  May 31, 2009 – $490,392 
 
  June 30, 2008 – $56,021  Sept. 30, 2007 – $115,725  May 31, 2008 – $54,763 
  Putnam Michigan Tax Exempt Income Fund  Putnam Minnesota Tax Exempt Income Fund  Putnam Money Market Fund 
Non-Audit Fees  May 31, 2009 – $490,050  May 31, 2009 – $490,048  Sept. 30, 2008 – $82,168 
 
  May 31, 2008 – $54,588  May 31, 2008 – $54,583  Sept. 30, 2007 – $107,956 
  Putnam New Jersey Tax Exempt     
  Income Fund  Putnam New Opportunities Fund  Putnam Ohio Tax Exempt Income Fund 
Non-Audit Fees  May 31, 2009 – $490,254  June 30, 2009 – $474,604  May 31, 2009 – $490,160 
 
  May 31, 2008 – $54,677  June 30, 2008 – $51,879  May 31, 2008 – $54,632 
  Putnam Pennsylvania Tax Exempt     
  Income Fund  Putnam RetirementReady 2010 Fund  Putnam RetirementReady 2015 Fund 
Non-Audit Fees  May 31, 2009 – $490,177  July 31, 2008 – $81,694  July 31, 2008 – $85,319 
 
  May 31, 2008 – $54,642  July 31, 2007 – $117,922  July 31, 2007 – $120,189 
  Putnam RetirementReady 2020 Fund  Putnam RetirementReady 2025 Fund  Putnam RetirementReady 2030 Fund 
Non-Audit Fees  July 31, 2008 – $85,635  July 31, 2008 – $84,716  July 31, 2008 – $83,316 
 
  July 31, 2007 – $120,750  July 31, 2007 – $119,811  July 31, 2007 – $118,671 
  Putnam RetirementReady 2035 Fund  Putnam RetirementReady 2040 Fund  Putnam RetirementReady 2045 Fund 
Non-Audit Fees  July 31, 2008 – $82,006  July 31, 2008 – $80,622  July 31, 2008 – $79,948 
 
  July 31, 2007 – $117,659  July 31, 2007 – $116,783  July 31, 2007 – $116,405 
  Putnam RetirementReady 2050 Fund  Putnam RetirementReady Maturity Fund  Putnam Small Cap Growth Fund 
Non-Audit Fees  July 31, 2008 – $79,069  July 31, 2008 – $80,065  July 31, 2008 – $471,749 
 
  July 31, 2007 – $115,569  July 31, 2007 – $116,668  July 31, 2007 – $51,466 
  Putnam Tax Exempt Money Market Fund  Putnam Tax-Free High Yield Fund  Putnam Voyager Fund 
Non-Audit Fees  Sept. 30, 2008 – $81,081  July 31, 2008 – $87,765  July 31, 2008 – $85,304 
 
  Sept. 30, 2007 – $105,833  July 31, 2007 – $123,951  July 31, 2007 – $132,427 
  Putnam VT American Government     
  Income Fund  Putnam VT Capital Opportunities Fund  Putnam VT Diversified Income Fund 
Non-Audit Fees  Dec. 31, 2008 – $174,864  Dec. 31, 2008 – $173,569  Dec. 31, 2008 – $190,781 
 
  Dec. 31, 2007 – $78,483  Dec. 31, 2007 – $77,500  Dec. 31, 2007 – $83,575 
    Putnam VT The George Putnam Fund   
  Putnam VT Equity Income Fund  of Boston  Putnam VT Global Asset Allocation Fund 
Non-Audit Fees  Dec. 31, 2008 – $173,811  Dec. 31, 2008 – $177,710  Dec. 31, 2008 – $182,450 
 
  Dec. 31, 2007 – $77,621  Dec. 31, 2007 – $81,151  Dec. 31, 2007 – $87,806 
  Putnam VT Global Equity Fund  Putnam VT Global Health Care Fund  Putnam VT Global Utilities Fund 
Non-Audit Fees  Dec. 31, 2008 – $183,237  Dec. 31, 2008 – $181,145  Dec. 31, 2008 – $178,481 
 
  Dec. 31, 2007 – $87,698  Dec. 31, 2007 – $83,445  Dec. 31, 2007 – $84,158 

Q-10


  Putnam VT Growth and Income Fund  Putnam VT Growth Opportunities Fund  Putnam VT High Yield Fund 
Non-Audit Fees  Dec. 31, 2008 – $177,591  Dec. 31, 2008 – $173,908  Dec. 31, 2008 – $176,692 
 
  Dec. 31, 2007 – $81,015  Dec. 31, 2007 – $77,835  Dec. 31, 2007 – $80,521 
      Putnam VT International Growth and 
  Putnam VT Income Fund  Putnam VT International Equity Fund  Income Fund 
Non-Audit Fees  Dec. 31, 2008 – $176,269  Dec. 31, 2008 – $183,296  Dec. 31, 2008 – $179,346 
 
  Dec. 31, 2007 – $79,517  Dec. 31, 2007 – $85,712  Dec. 31, 2007 – $82,863 
  Putnam VT International New     
  Opportunities Fund  Putnam VT Investors Fund  Putnam VT Mid Cap Value Fund 
Non-Audit Fees  Dec. 31, 2008 – $180,225  Dec. 31, 2008 – $174,338  Dec. 31, 2008 – $173,592 
 
  Dec. 31, 2007 – $85,538  Dec. 31, 2007 – $78,121  Dec. 31, 2007 – $77,536 
  Putnam VT Money Market Fund  Putnam VT New Opportunities Fund  Putnam VT Research Fund 
Non-Audit Fees  Dec. 31, 2008 – $174,434  Dec. 31, 2008 – $174,849  Dec. 31, 2008 – $174,221 
 
  Dec. 31, 2007 – $77,660  Dec. 31, 2007 – $78,587  Dec. 31, 2007 – $78,138 
  Putnam VT Small Cap Value Fund  Putnam VT Vista Fund  Putnam VT Voyager Fund 
Non-Audit Fees  Dec. 31, 2008 – $174,451  Dec. 31, 2008 – $174,143  Dec. 31, 2008 – $175,289 
 
  Dec. 31, 2007 – $78,468  Dec. 31, 2007 – $78,064  Dec. 31, 2007 – $78,951 
KPMG LLP:       
  Putnam Arizona Tax Exempt Income Fund  Putnam California Tax Exempt Income Fund  Putnam Convertible Income-Growth Trust 
Non-Audit Fees  May 31, 2009 – $6,100  Sept. 30, 2008 – $74,733  Oct. 31, 2008 – $72,633 
 
  May 31, 2008 – $74,183  Sept. 30, 2007 – $5,450  Oct. 31, 2007 – $3,490 
  Putnam Diversified Income Trust  Putnam Equity Income Fund  Putnam Floating Rate Income Fund 
Non-Audit Fees  Sept. 30, 2008 – $74,733  Nov. 30, 2008 – $72,633  Feb. 28, 2009 – $75,283 
 
  Sept. 30, 2007 – $5,450  Nov. 30, 2007 – $3,550  Feb. 29, 2008 – $5,950 
  Putnam Global Equity Fund  Putnam Global Natural Resources Fund  Putnam Growth Opportunities Fund 
Non-Audit Fees  Oct. 31, 2008 – $73,183  Aug. 31, 2008 – $72,633  July 31, 2008 – $72,633 
 
  Oct. 31, 2007 – $4,050  Aug. 31, 2007 – $3,550  July 31, 2007 – $3,550 
  Putnam High Yield Advantage Fund  Putnam High Yield Trust  Putnam Income Fund 
Non-Audit Fees  Nov. 30, 2008 – $72,933  Aug. 31, 2008 – $74,733  Oct. 31, 2008 – $74,733 
 
  Nov. 30, 2007 – $3,800  Aug. 31, 2007 – $5,450  Oct. 31, 2007 – $5,450 
  Putnam Investors Fund  Putnam Mid Cap Value Fund  Putnam New York Tax Exempt Income Fund 
Non-Audit Fees  July 31, 2008 – $72,633  April 30, 2009 – $3,900  Nov. 30, 2008 – $74,733 
 
  July 31, 2007 – $3,550  April 30, 2008 – $3,550  Nov. 30, 2007 – $5,450 
  Putnam Research Fund  Putnam Small Cap Value Fund  Putnam Tax Exempt Income Fund 
Non-Audit Fees  July 31, 2008 – $72,633  Feb. 28, 2009 – $72,633  Sept. 30, 2008 – $74,733 
 
  July 31, 2007 – $3,550  Feb. 29, 2008 – $3,550  Sept. 30, 2007 – $16,085 
  Putnam U.S. Government Income Trust  Putnam Vista Fund   
  
Non-Audit Fees  Sept. 30, 2008 – $73,183  July 31, 2008 – $72,633   
 
 
  Sept. 30, 2007 – $19,868  July 31, 2007 – $3,550   
  

Pre-Approval Policies of the Audit and Compliance Committee.

The Audit and Compliance Committee of the Putnam funds has determined that, as a matter of policy, all work performed for the funds by the funds’ independent auditors will be pre-approved by the Committee itself and thus will generally not be subject to pre-approval procedures.

The Audit and Compliance Committee also has adopted a policy to pre-approve the engagement by Putnam Management and certain of its affiliates of the funds’ independent auditors, even in circumstances where pre-approval is not required by applicable law. Any such requests by Putnam Management or certain of its affiliates are typically submitted in writing to the Committee and explain, among other things, the nature of the proposed engagement, the estimated fees, and why this work should be performed by that particular audit firm as opposed to another one. In reviewing such requests, the Committee considers, among other things, whether the provision of such services by the audit firm are compatible with the independence of the audit firm.

Since the beginning of the two most recently completed fiscal years of each fund, all work performed by the independent auditors for the funds, Putnam Management and any entity controlling, controlled by or under common control with Putnam Management that provides ongoing services to the funds was pre-approved by the Committee or a member of the Committee pursuant to the pre-approval policies discussed above.

The following table presents fees billed to each indicated fund in each of its last two fiscal years (with the most recent fiscal years ended between July 31, 2008 and June 30, 2009) by PricewaterhouseCoopers LLP for services required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X (funds not listed below were not billed for such services during their last two fiscal years):

Q-11 

  Putnam American Government Income Fund  Putnam AMT-Free Municipal Fund  Putnam Asset Allocation: Balanced Portfolio 
Tax Fees  Sept. 30, 2008 – $15,000  July 31, 2008 – $15,000  Sept. 30, 2008 – $15,000 
 
  Sept. 30, 2007 – $26,129  July 31, 2007 – $26,129  Sept. 30, 2007 – $26,129 
  Putnam Asset Allocation:     
  Conservative Portfolio  Putnam Asset Allocation: Growth Portfolio  Putnam Capital Opportunities Fund 
Tax Fees  Sept. 30, 2008 – $15,000  Sept. 30, 2008 – $15,000  April 30, 2009 – $415,341 
 
  Sept. 30, 2007 – $26,129  Sept. 30, 2007 – $26,129  April 30, 2008 – $15,000 
  Putnam Europe Equity Fund  The Putnam Fund for Growth and Income  The George Putnam Fund of Boston 
Tax Fees  June 30, 2009 – $400,741  Oct. 31, 2008 – $15,000  July 31, 2008 – $15,000 
 
  June 30, 2008 – $15,000  Oct. 31, 2007 – $28,129  July 31, 2007 – $26,129 
  Putnam Global Health Care Fund  Putnam Global Income Trust  Putnam Global Utilities Fund 
Tax Fees  Aug. 31, 2008 – $15,000  Oct. 31, 2008 – $15,000  Oct. 31, 2008 – $15,000 
 
  Aug. 31, 2007 – $26,129  Oct. 31, 2007 – $28,129  Oct. 31, 2007 – $28,129 
    Putnam International Capital   
  Putnam Income Strategies Fund  Opportunities Fund  Putnam International Equity Fund 
Tax Fees  Feb. 28, 2009 – $302,065  Aug. 31, 2008 – $15,000  June 30, 2009 – $400,741 
 
  Feb. 29, 2008 – $21,129  Aug. 31, 2007 – $26,129  June 30, 2008 – $15,000 
  Putnam International Growth and  Putnam International New  Putnam Massachusetts Tax Exempt Income 
  Income Fund  Opportunities Fund  Fund 
Tax Fees  June 30, 2009 – $400,741  Sept. 30, 2008 – $15,000  May 31, 2009 – $415,341 
 
  June 30, 2008 – $15,000  Sept. 30, 2007 – $26,129  May 31, 2008 – $15,000 
  Putnam Michigan Tax Exempt Income Fund  Putnam Minnesota Tax Exempt Income Fund  Putnam Money Market Fund 
Tax Fees  May 31, 2009 – $415,341  May 31, 2009 – $415,341  Sept. 30, 2008 – $15,000 
 
  May 31, 2008 – $15,000  May 31, 2008 – $15,000  Sept. 30, 2007 – $26,129 
  Putnam New Jersey Tax Exempt     
  Income Fund  Putnam New Opportunities Fund  Putnam Ohio Tax Exempt Income Fund 
Tax Fees  May 31, 2009 – $415,341  June 30, 2009 – $400,741  May 31, 2009 – $415,341 
 
  May 31, 2008 – $15,000  June 30, 2008 – $15,000  May 31, 2008 – $15,000 
  Putnam Pennsylvania Tax Exempt     
  Income Fund  Putnam RetirementReady 2010 Fund  Putnam RetirementReady 2015 Fund 
Tax Fees  May 31, 2009 – $415,341  July 31, 2008 – $15,000  July 31, 2008 – $15,000 
 
  May 31, 2008 – $15,000  July 31, 2007 – $26,129  July 31, 2007 – $26,129 
  Putnam RetirementReady 2020 Fund  Putnam RetirementReady 2025 Fund  Putnam RetirementReady 2030 Fund 
Tax Fees  July 31, 2008 – $15,000  July 31, 2008 – $15,000  July 31, 2008 – $15,000 
 
  July 31, 2007 – $26,129  July 31, 2007 – $26,129  July 31, 2007 – $26,129 
  Putnam RetirementReady 2035 Fund  Putnam RetirementReady 2040 Fund  Putnam RetirementReady 2045 Fund 
Tax Fees  July 31, 2008 – $15,000  July 31, 2008 – $15,000  July 31, 2008 – $15,000 
 
  July 31, 2007 – $26,129  July 31, 2007 – $26,129  July 31, 2007 – $26,129 
  Putnam RetirementReady 2050 Fund  Putnam RetirementReady Maturity Fund  Putnam Small Cap Growth Fund 
Tax Fees  July 31, 2008 – $15,000  July 31, 2008 – $15,000  June 30, 2009 – $400,741 
 
  July 31, 2007 – $26,129  July 31, 2007 – $26,129  June 30, 2008 – $15,000 
  Putnam Tax Exempt Money Market Fund  Putnam Tax-Free High Yield Fund  Putnam Voyager Fund 
Tax Fees  Sept. 30, 2008 – $15,000  July 31, 2008 – $15,000  July 31, 2008 – $15,000 
 
  Sept. 30, 2007 – $26,129  July 31, 2007 – $26,129  July 31, 2007 – $26,129 
  Putnam VT American Government     
  Income Fund  Putnam VT Capital Opportunities Fund  Putnam VT Diversified Income Fund 
Tax Fees  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000 
 
  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129 
    Putnam VT The George Putnam Fund   
  Putnam VT Equity Income Fund  of Boston  Putnam VT Global Asset Allocation Fund 
Tax Fees  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000 
 
  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129 
  Putnam VT Global Equity Fund  Putnam VT Global Health Care Fund  Putnam VT Global Utilities Fund 
Tax Fees  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000 
 
  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129 
  Putnam VT Growth and Income Fund  Putnam VT Growth Opportunities Fund  Putnam VT High Yield Fund 
Tax Fees  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000 
 
  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129 

Q-12 

      Putnam VT International Growth and 
  Putnam VT Income Fund  Putnam VT International Equity Fund  Income Fund 
Tax Fees  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000 
 
  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129 
  Putnam VT International New     
  Opportunities Fund  Putnam VT Investors Fund  Putnam VT Mid Cap Value Fund 
Tax Fees  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000 
 
  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129 
  Putnam VT Money Market Fund  Putnam VT New Opportunities Fund  Putnam VT Research Fund 
Tax Fees  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000 
 
  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129 
  Putnam VT Small Cap Value Fund  Putnam VT Vista Fund  Putnam VT Voyager Fund 
Tax Fees  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000  Dec. 31, 2008 – $73,000 
 
  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129  Dec. 31, 2007 – $21,129 

Appendix R — Other Similar Funds Advised by Putnam Management

The following table contains certain information regarding funds for which Putnam Management provides investment advisory services and that may have similar investment objectives and policies to your fund.

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Absolute  45,399,046  First $500 million  0.55%  Yes  To earn a positive return that 
Return 100 Fund    Next $500 million  0.45%    exceeds the rate of inflation, 
    Next $500 million  0.40%    as reflected by Treasury bills, 
    Next $5 billion  0.35%    by 1% over a reasonable period 
    Next $5 billion  0.325%    of time, regardless of market 
    Next $5 billion  0.305%    conditions. 
    Next $5 billion  0.29%     
    Any excess thereafter  0.28%     
    Benchmark: Merrill Lynch US Treasury Bill Index     
    (G0BA)       
    Hurdle: 1.00%       
    Maximum Performance Adjustment Rate:  0.04%     
    Minimum Performance Adjustment Rate:  -0.04%     
Putnam Absolute  89,117,294  First $500 million  0.65%  Yes  To earn a positive return that 
Return 300 Fund    Next $500 million  0.55%    exceeds the rate of inflation, 
    Next $500 million  0.50%    as reflected by Treasury bills, 
    Next $5 billion  0.45%    by 3% over a reasonable period 
    Next $5 billion  0.425%    of time, regardless of market 
    Next $5 billion  0.405%    conditions. 
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
    Benchmark: Merrill Lynch US Treasury Bill Index     
    (G0BA)       
    Hurdle: 3.00%       
    Maximum Performance Adjustment Rate:  0.12%     
    Minimum Performance Adjustment Rate:  -0.12%     
Putnam Absolute  99,975,969  First $500 million  0.80%  Yes  To earn a positive return that 
Return 500 Fund    Next $500 million  0.70%    exceeds the rate of inflation, 
    Next $500 million  0.65%    as reflected by Treasury bills, 
    Next $5 billion  0.60%    by 5% over a reasonable period 
    Next $5 billion  0.575%    of time, regardless of market 
    Next $5 billion  0.555%    conditions. 
    Next $5 billion  0.54%     
    Any excess thereafter  0.53%     
    Benchmark: Merrill Lynch US Treasury Bill Index     
    (G0BA)       
    Hurdle: 5.00%       
    Maximum Performance Adjustment Rate:  0.20%     
    Minimum Performance Adjustment Rate:  -0.20%     

R-1 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Absolute  62,614,921  First $500 million  0.95%  Yes  To earn a positive return that 
Return 700 Fund    Next $500 million  0.85%    exceeds the rate of inflation, 
    Next $500 million  0.80%    as reflected by Treasury bills, 
    Next $5 billion  0.75%    by 7% over a reasonable period 
    Next $5 billion  0.725%    of time, regardless of market 
    Next $5 billion  0.705%    conditions. 
    Next $5 billion  0.69%     
    Any excess thereafter  0.68%     
    Benchmark: Merrill Lynch US Treasury Bill Index     
    (G0BA)       
    Hurdle: 7.00%       
    Maximum Performance Adjustment Rate:  0.28%     
    Minimum Performance Adjustment Rate:  -0.28%     
Putnam American  693,955,987  First $500 million  0.65%  Yes  High current income with 
Government Income    Next $500 million  0.55%    preservation of capital as its 
Fund    Next $500 million  0.50%    secondary objective. 
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam AMT-Free  349,006,631  The lesser of 0.50%, or    Yes  High current income exempt 
Municipal Fund    First $500 million  0.60%    from federal income tax. 
    Next $500 million  0.50%     
    Next $500 million  0.45%     
    Next $5 billion  0.40%     
    Next $5 billion  0.375%     
    Next $5 billion  0.355%     
    Next $5 billion  0.34%     
    Any excess thereafter  0.33%     
Putnam Arizona Tax  69,258,090  The lesser of 0.50%, or    Yes  To provide as high a level 
Exempt Income Fund    First $500 million  0.60%    of current income exempt 
    Next $500 million  0.50%    from federal income tax and 
    Next $500 million  0.45%    personal income tax (if any) 
    Next $5 billion  0.40%    of the state of Arizona as 
    Next $5 billion  0.375%    Putnam Management believes 
    Next $5 billion  0.355%    is consistent with preservation 
    Next $5 billion  0.34%    of capital. 
    Any excess thereafter  0.33%     
Putnam Asia Pacific  5,146,126  First $500 million  1.00%  Yes  Long-term capital appreciation. 
Equity Fund    Next $500 million  0.90%     
    Next $500 million  0.85%     
    Next $5 billion  0.80%     
    Next $5 billion  0.775%     
    Next $5 billion  0.755%     
    Next $5 billion  0.74%     
    Next $5 billion  0.73%     
    Next $5 billion  0.72%     
    Next $5 billion  0.71%     
    Next $5 billion  0.70%     
    Next $5 billion  0.69%     
    Next $8.5 billion  0.68%     
    Any excess thereafter  0.67%     
Putnam Asset  1,345,015,388  First $500 million  0.70%  Yes  Total return. 
Allocation: Balanced    Next $500 million  0.60%     
Portfolio    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess over $21.5 billion  0.43%     

R-2 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Asset  920,812,497  First $500 million  0.70%  Yes  Total return consistent with 
Allocation:    Next $500 million  0.60%    preservation of capital. 
Conservative Portfolio    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess over $21.5 billion  0.43%     
Putnam Asset  38,491,592  First $500 million  0.70%  Yes  Long-term growth. 
Allocation: Equity    Next $500 million  0.60%     
Portfolio    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess thereafter  0.37%     
Putnam Asset  1,578,499,077  First $500 million  0.70%  Yes  Capital appreciation. 
Allocation: Growth    Next $500 million  0.60%     
Portfolio    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess over $21.5 billion  0.43%     
Putnam California Tax  1,609,129,147  The lesser of 0.50%, or    Yes  To provide as high a level 
Exempt Income Fund    First $500 million  0.60%    of current income exempt 
    Next $500 million  0.50%    from federal income tax and 
    Next $500 million  0.45%    California personal income 
    Next $5 billion  0.40%    tax as Putnam Management 
    Next $5 billion  0.375%    believes is consistent with 
    Next $5 billion  0.355%    preservation of capital. 
    Next $5 billion  0.34%     
    Any excess thereafter  0.33%     
Putnam Capital  229,463,072  First $500 million  0.65%  Yes  Long-term growth of capital. 
Opportunities Fund    Next $500 million  0.55%     
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess over $21.5 billion  0.38%     

R-3 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Capital  21,273,300  First $500 million  0.80%  Yes  Total return. 
Spectrum Fund    Next $500 million  0.70%     
    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Next $5 billion  0.53%     
    Next $5 billion  0.52%     
    Next $5 billion  0.51%     
    Next $5 billion  0.50%     
    Next $5 billion  0.49%     
    Next $8.5 billion  0.48%     
    Any excess thereafter  0.47%     
    Benchmark: 50/50 blend (balanced daily)       
    of S&P 500 Index and JP Morgan Developed     
    High Yield Index       
    Maximum Performance Adjustment Rate:  0.32%     
    Minimum Performance Adjustment Rate:  -0.32%     
Putnam Convertible  557,632,162  First $500 million  0.65%  Yes  Current income and capital 
Income-Growth Trust    Next $500 million  0.55%    appreciation. Conservation of 
    Next $500 million  0.50%    capital is a secondary objective. 
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam Diversified  1,774,578,713  First $500 million  0.70%  Yes  To provide as high a level of 
Income Trust    Next $500 million  0.60%    current income as Putnam 
    Next $500 million  0.55%    Management believes is 
    Next $5 billion  0.50%    consistent with preservation 
    Next $5 billion  0.475%    of capital. 
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam Emerging  13,609,482  First $500 million  1.00%  Yes  Long-term capital appreciation. 
Markets Equity Fund    Next $500 million  0.90%     
    Next $500 million  0.85%     
    Next $5 billion  0.80%     
    Next $5 billion  0.775%     
    Next $5 billion  0.755%     
    Next $5 billion  0.74%     
    Next $5 billion  0.73%     
    Next $5 billion  0.72%     
    Next $5 billion  0.71%     
    Next $5 billion  0.70%     
    Next $5 billion  0.69%     
    Next $8.5 billion  0.68%     
    Any excess thereafter  0.67%     
Putnam Equity  2,557,674,404  First $500 million  0.65%  Yes  Capital growth and current 
Income Fund    Next $500 million  0.55%    income. 
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     

R-4 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Equity  7,650,451  First $500 million  0.80%  Yes  Capital appreciation. 
Spectrum Fund    Next $500 million  0.70%     
    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Next $5 billion  0.53%     
    Next $5 billion  0.52%     
    Next $5 billion  0.51%     
    Next $5 billion  0.50%     
    Next $5 billion  0.49%     
    Next $8.5 billion  0.48%     
    Any excess thereafter  0.47%     
    Benchmark: S&P 500 Index       
    Maximum Performance Adjustment Rate:  0.40%     
    Minimum Performance Adjustment Rate:  -0.40%     
Putnam Europe  194,987,288  First $500 million  0.80%  Yes  Capital appreciation. 
Equity Fund    Next $500 million  0.70%     
    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Any excess thereafter  0.53%     
Putnam Floating Rate  319,689,246  First $500 million  0.65%  Yes  High current income. 
Income Fund    Next $500 million  0.55%    Preservation of capital is a 
    Next $500 million  0.50%    secondary goal. 
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Next $5 billion  0.38%     
    Next $5 billion  0.37%     
    Next $5 billion  0.36%     
    Next $5 billion  0.35%     
    Next $5 billion  0.34%     
    Next $8.5 billion  0.33%     
    Any excess thereafter  0.32%     
The Putnam Fund for  4,738,583,964  First $500 million  0.65%  Yes  Capital growth and current 
Growth and Income    Next $500 million  0.55%    income. 
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Next $5 billion  0.38%     
    Next $5 billion  0.37%     
    Next $5 billion  0.36%     
    Next $5 billion  0.35%     
    Next $5 billion  0.34%     
    Next $8.5 billion  0.33%     
    Any excess over $55 billion  0.32%     
The George Putnam  1,423,537,840  First $500 million  0.65%  Yes  To provide a balanced 
Fund of Boston    Next $500 million  0.55%    investment composed of a 
    Next $500 million  0.50%    well-diversified portfolio 
    Next $5 billion  0.45%    of stocks and bonds which 
    Next $5 billion  0.425%    produce both capital growth 
    Next $5 billion  0.405%    and current income. 
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     

R-5 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Global  3,655,680  First $500 million  0.70%  Yes  Capital appreciation. 
Consumer Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess thereafter  0.37%     
Putnam Global  5,195,173  First $500 million  0.70%  Yes  Capital appreciation. 
Energy Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess thereafter  0.37%     
Putnam Global  861,910,917  First $500 million  0.80%  Yes  Capital appreciation. 
Equity Fund    Next $500 million  0.70%     
    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Next $5 billion  0.53%     
    Next $5 billion  0.52%     
    Next $5 billion  0.51%     
    Next $5 billion  0.50%     
    Next $5 billion  0.49%     
    Next $8.5 billion  0.48%     
    Any excess over $55 billion  0.47%     
Putnam Global  6,258,910  First $500 million  0.70%  Yes  Capital appreciation. 
Financials Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess thereafter  0.37%     
Putnam Global Health  1,145,221,125  First $500 million  0.70%  Yes  Capital appreciation. 
Care Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess over $21.5 billion  0.43%.     

R-6 


        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Global  124,792,744  First $500 million  0.70%  Yes  High current income by 
Income Trust    Next $500 million  0.60%    investing principally in debt 
    Next $500 million  0.55%    securities of sovereign and 
    Next $5 billion  0.50%    private issuers worldwide, 
    Next $5 billion  0.475%    including supranational issuers. 
    Next $5 billion  0.455%    Preservation of capital and 
    Next $5 billion  0.44%    long-term total return are 
    Any excess thereafter  0.43%    secondary objectives, but only 
          to the extent consistent with 
          the objective of seeking high 
          current income. 
Putnam Global  3,354,448  First $500 million  0.70%  Yes  Capital appreciation. 
Industrials Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess thereafter  0.37%     
Putnam Global Natural  362,810,929  First $500 million  0.70%  Yes  Capital appreciation. 
Resources Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam Global  4,952,166  First $500 million  0.70%  Yes  Capital appreciation. 
Technology Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess thereafter  0.37%     
Putnam Global  2,976,721  First $500 million  0.70%  Yes  Capital appreciation. 
Telecommunications    Next $500 million  0.60%     
Fund    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess thereafter  0.37%     

R-7 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Global Utilities  317,162,123  First $500 million  0.70%  Yes  Capital growth and current 
Fund    Next $500 million  0.60%    income. 
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam Growth  292,614,284  First $500 million  0.70%  Yes  Capital appreciation. 
Opportunities Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam High Income  111,750,042  First $500 million  0.70%  Yes  To provide high current 
Securities Fund    Next $500 million  0.60%    income as a primary objective 
    Next $500 million  0.55%    and capital appreciation as a 
    Next $5 billion  0.50%    secondary objective. 
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess thereafter  0.37%     
Putnam High Yield  634,071,787  First $500 million  0.70%  Yes  High current income. Capital 
Advantage Fund    Next $500 million  0.60%    growth is a secondary goal 
    Next $500 million  0.55%    when consistent with achieving 
    Next $5 billion  0.50%    high current income. 
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam High Yield  1,168,635,799  First $500 million  0.70%  Yes  High current income. Capital 
Trust    Next $500 million  0.60%    growth is a secondary goal 
    Next $500 million  0.55%    when consistent with achieving 
    Next $5 billion  0.50%    high current income. 
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam Income Fund  957,062,896  First $500 million  0.65%  Yes  High current income consistent 
    Next $500 million  0.55%    with what Putnam Management 
    Next $500 million  0.50%    believes to be prudent risk. 
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     

R-8 


        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Income  37,552,989  First $500 million  0.65%  Yes  Current income consistent with 
Strategies Fund    Next $500 million  0.55%    what Putnam management 
    Next $500 million  0.50%    believes to be prudent risk. Its 
    Next $5 billion  0.45%    secondary objective is capital 
    Next $5 billion  0.425%    appreciation. 
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Next $5 billion  0.38%     
    Next $5 billion  0.37%     
    Next $5 billion  0.36%     
    Next $5 billion  0.35%     
    Next $5 billion  0.34%     
    Next $8.5 billion  0.33%     
    Any excess thereafter  0.32%     
Putnam International  1,022,428,205  First $500 million  1.00%  Yes  Long-term capital appreciation. 
Capital Opportunities    Next $500 million  0.90%     
Fund    Next $500 million  0.85%     
    Next $5 billion  0.80%     
    Next $5 billion  0.775%     
    Next $5 billion  0.755%     
    Next $5 billion  0.74%     
    Any excess thereafter  0.73%     
Putnam International  1,788,163,176  First $500 million  0.80%  Yes  Capital appreciation. 
Equity Fund    Next $500 million  0.70%     
    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Any excess over $21.5 billion  0.53%     
Putnam International  352,281,035  First $500 million  0.80%  Yes  Capital growth. Current income 
Growth and Income    Next $500 million  0.70%    is a secondary objective. 
Fund    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Any excess over $21.5 billion  0.53%     
 
Putnam International  382,498,348  First $500 million  1.00%  Yes  Long-term capital appreciation. 
New Opportunities    Next $500 million  0.90%     
Fund    Next $500 million  0.85%     
    Next $5 billion  0.80%     
    Next $5 billion  0.775%     
    Next $5 billion  0.755%     
    Next $5 billion  0.74%     
    Any excess thereafter  0.73%     
Putnam Investors Fund  1,432,533,133  First $500 million  0.65%  Yes  Long-term growth of capital 
    Next $500 million  0.55%    and any increased income that 
    Next $500 million  0.50%    results from this growth. 
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess over $21.5 billion  0.38%     

R-9 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Managed  491,185,587  The lesser of 0.55%, or    Yes  To provide high current income 
Municipal Income Trust    First $500 million  0.65%    free from federal income tax. 
    Next $500 million  0.55%     
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam Massachusetts  270,771,414  The lesser of 0.50%, or    Yes  To provide as high a level 
Tax Exempt Income    First $500 million  0.60%    of current income exempt 
Fund    Next $500 million  0.50%    from federal income tax and 
    Next $500 million  0.45%    personal income tax (if any) 
    Next $5 billion  0.40%    of the Commonwealth of 
          Massachusetts as Putnam 
    Next $5 billion  0.375%    Management believes is 
    Next $5 billion  0.355%    consistent with preservation of 
    Next $5 billion  0.34%    capital. 
    Any excess over $21.5 billion  0.33%     
Putnam Master  335,104,367  First $500 million  0.75%  Yes  With equal emphasis, to provide 
Intermediate Income    Next $500 million  0.65%    high current income and relative 
Trust    Next $500 million  0.60%    stability of net asset value. 
    Next $5 billion  0.55%     
    Next $5 billion  0.525%     
    Next $5 billion  0.505%     
    Next $5 billion  0.49%     
    Next $5 billion  0.48%     
    Next $5 billion  0.47%     
    Next $5 billion  0.46%     
    Next $5 billion  0.45%     
    Next $5 billion  0.44%     
    Next $8.5 billion  0.43%     
    Any excess thereafter  0.42%     
Putnam Michigan Tax  84,315,808  The lesser of 0.50%, or    Yes  To provide as high a level 
Exempt Income Fund    First $500 million  0.60%    of current income exempt 
    Next $500 million  0.50%    from federal income tax and 
    Next $500 million  0.45%    personal income tax (if any) 
    Next $5 billion  0.40%    of the state of Michigan as 
          Putnam Management believes 
    Next $5 billion  0.375%    is consistent with preservation 
    Next $5 billion  0.355%    of capital. 
    Next $5 billion  0.34%     
    Any excess over $21.5 billion  0.33%     
Putnam Mid Cap Value  498,483,964  First $500 million  0.70%  Yes  Capital appreciation and, as a 
Fund    Next $500 million  0.60%    secondary objective, current 
    Next $500 million  0.55%    income. 
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam Minnesota Tax  88,402,430  The lesser of 0.50%, or    Yes  To provide as high a level 
Exempt Income Fund    First $500 million  0.60%    of current income exempt 
    Next $500 million  0.50%    from federal income tax and 
    Next $500 million  0.45%    personal income tax (if any) 
    Next $5 billion  0.40%    of the state of Minnesota as 
          Putnam Management believes 
    Next $5 billion  0.375%    is consistent with preservation 
    Next $5 billion  0.355%    of capital. 
    Next $5 billion  0.34%     
    Any excess over $21.5 billion  0.33%     

R-10 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Money  2,898,573,765  First $100 million  0.50%  Yes  As high a rate of current income 
Market Fund    Next $100 million  0.40%    as Putnam Management 
    Next $300 million  0.35%    believes is consistent with 
    Next $500 million  0.325%    preservation of capital and 
    Next $500 million  0.30%    maintenance of liquidity. 
    Next $2.5 billion  0.275%     
    Next $2.5 billion  0.25%     
    Next $5 billion  0.225%     
    Next $5 billion  0.205%     
    Next $5 billion  0.19%     
    Any excess thereafter  0.18%     
Putnam Money Market  2,439,099,233    0.25%  Yes  As high a rate of current income 
Liquidity Fund          as Putnam Management 
          believes is consistent with 
          preservation of capital, 
          maintenance of liquidity and 
          stability of principal. 
Putnam Municipal  638,504,814  The lesser of 0.55%, or    Yes  The fund seeks to provide as 
Opportunities Trust    First $500 million  0.65%    high a level of current income 
    Next $500 million  0.55%    exempt from federal income 
    Next $500 million  0.50%    tax as Putnam Management 
    Next $5 billion  0.45%    believes is consistent with 
    Next $5 billion  0.425%    preservation of capital. 
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam New Jersey Tax  211,818,789  The lesser of 0.50%, or    Yes  To provide as high a level 
Exempt Income Fund    First $500 million  0.60%    of current income exempt 
    Next $500 million  0.50%    from federal income tax and 
    Next $500 million  0.45%    personal income tax (if any) 
    Next $5 billion  0.40%    of the state of New Jersey as 
          Putnam Management believes 
    Next $5 billion  0.375%    is consistent with preservation 
    Next $5 billion  0.355%    of capital. 
    Next $5 billion  0.34%     
    Any excess over $21.5 billion  0.33%     
Putnam New  2,357,287,064  First $500 million  0.70%  Yes  Long-term capital appreciation. 
Opportunities Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess over $55 billion  0.37%     
Putnam New York Tax  1,060,256,684  The lesser of 0.50%, or    Yes  To provide as high a level 
Exempt Income Fund    First $500 million  0.60%    of current income exempt 
    Next $500 million  0.50%    from federal income tax and 
    Next $500 million  0.45%    personal income tax (if any) 
    Next $5 billion  0.40%    of the state of New York as 
          Putnam Management believes 
    Next $5 billion  0.375%    is consistent with preservation 
    Next $5 billion  0.355%    of capital. 
    Next $5 billion  0.34%     
    Any excess over $21.5 billion  0.33%     

R-11 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam Ohio Tax  149,562,033  The lesser of 0.50%, or    Yes  To provide as high a level of 
Exempt Income Fund    First $500 million  0.60%    current income exempt from 
    Next $500 million  0.50%    federal income tax and personal 
    Next $500 million  0.45%    income tax (if any) of the state 
    Next $5 billion  0.40%    of Ohio as Putnam Management 
          believes is consistent with 
    Next $5 billion  0.375%    preservation of capital. 
    Next $5 billion  0.355%     
    Next $5 billion  0.34%     
    Any excess over $21.5 billion  0.33%     
Putnam Pennsylvania  171,593,303  The lesser of 0.50%, or    Yes  To provide as high a level 
Tax Exempt Income    First $500 million  0.60%    of current income exempt 
Fund    Next $500 million  0.50%    from federal income tax and 
    Next $500 million  0.45%    personal income tax (if any) 
    Next $5 billion  0.40%    of the state of Pennsylvania as 
          Putnam Management believes 
    Next $5 billion  0.375%    is consistent with preservation 
    Next $5 billion  0.355%    of capital. 
    Next $5 billion  0.34%     
    Any excess over $21.5 billion  0.33%     
Putnam Premier  747,096,905  First $500 million  0.75%  Yes  To provide high current income. 
Income Trust    Next $500 million  0.65%     
    Next $500 million  0.60%     
    Next $5 billion  0.55%     
    Next $5 billion  0.525%     
    Next $5 billion  0.505%     
    Next $5 billion  0.49%     
    Next $5 billion  0.48%     
    Next $5 billion  0.47%     
    Next $5 billion  0.46%     
    Next $5 billion  0.45%     
    Next $5 billion  0.44%     
    Next $8.5 billion  0.43%     
    Any excess thereafter  0.42%     
Putnam Research Fund  214,086,489  First $500 million  0.65%  Yes  Capital appreciation. 
    Next $500 million  0.55%     
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam  21,405,327  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2010 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 
Putnam  52,117,244  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2015 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 
Putnam  43,527,529  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2020 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 
Putnam  43,263,091  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2025 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 

* Effective August 1, 2009, these funds no longer pay management fees pursuant to an amended and restated management contract.

R-12 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam  36,689,269  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2030 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 
Putnam  28,978,834  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2035 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 
Putnam  19,987,367  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2040 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 
Putnam  13,771,032  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2045 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 
Putnam  6,981,450  0.05%    Yes  Capital appreciation and current 
RetirementReady          income consistent with a 
2050 Fund*          decreasing emphasis on capital 
          appreciation and an increasing 
          emphasis on current income as 
          it approaches its target date. 
Putnam  13,759,043  0.05%    Yes  As high a rate of current income 
RetirementReady          as Putnam Management 
Maturity Fund*          believes is consistent with 
          preservation of capital. 
Putnam Small Cap  133,066,612  First $500 million  1.00%  Yes  Capital appreciation. 
Growth Fund    Next $500 million  0.90%     
    Next $500 million  0.85%     
    Next $5 billion  0.80%     
    Next $5 billion  0.775%     
    Next $5 billion  0.755%     
    Next $5 billion  0.74%     
    Any excess thereafter  0.73%     
 
Putnam Small Cap  171,802,667  First $500 million  0.80%  Yes  Capital appreciation. 
Value Fund    Next $500 million  0.70%     
    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Any excess thereafter  0.53%     
 
Putnam Tax Exempt  1,111,795,828  The lesser of 0.50%, or    Yes  As high a level of current 
Income Fund    First $500 million  0.60%    income exempt from federal 
    Next $500 million  0.50%    income tax as Putnam 
    Next $500 million  0.45%    Management believes to be 
    Next $5 billion  0.40%    consistent with preservation of 
    Next $5 billion  0.375%    capital. 
    Next $5 billion  0.355%     
    Next $5 billion  0.34%     
    Any excess over $21.5 billion  0.33%     

* Effective August 1, 2009, these funds no longer pay management fees pursuant to an amended and restated management contract.

R-13 


        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule  applicable contract?  Current Investment Objective 
Putnam Tax Exempt  69,187,935  First $500 million  0.45%  Yes  As high a level of current 
Money Market Fund    Next $500 million  0.35%    income exempt from federal 
    Next $500 million  0.30%    income tax as Putnam 
    Next $5 billion  0.25%    Management believes to be 
    Next $5 billion  0.225%    consistent with preservation of 
          capital, maintenance of liquidity 
    Next $5 billion  0.205%    and stability of principal. 
    Next $5 billion  0.19%     
    Any excess thereafter  0.18%     
Putnam Tax-Free High  863,838,724  The lesser of 0.50%, or    Yes  High current income exempt 
Yield Fund    First $500 million  0.60%    from federal income tax. 
    Next $500 million  0.50%     
    Next $500 million  0.45%     
    Next $5 billion  0.40%     
    Next $5 billion  0.375%     
    Next $5 billion  0.355%     
    Next $5 billion  0.34%     
    Any excess thereafter  0.33%     
Putnam U.S.  1,238,499,306  First $500 million  0.57%  Yes  As high a level of current 
Government Income    Next $500 million  0.475%    income as Putnam Management 
Trust    Next $500 million  0.4275%    believes is consistent with 
    Any excess over $1.5 billion  0.38%    preservation of capital. 
Putnam Vista Fund  922,889,772  First $500 million  0.65%  Yes  Capital appreciation. 
    Next $500 million  0.55%     
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess over $21.5 billion  0.38%     
Putnam Voyager Fund  2,853,168,159  First $500 million  0.70%  Yes  Capital appreciation. 
    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Next $5 billion  0.42%     
    Next $5 billion  0.41%     
    Next $5 billion  0.40%     
    Next $5 billion  0.39%     
    Next $8.5 billion  0.38%     
    Any excess over $55 billion  0.37%     
Putnam VT American  151,768,814  First $500 million  0.65%  Yes  High current income with 
Government Income    Next $500 million  0.55%    preservation of capital as a 
Fund    Next $500 million  0.50%    secondary objective. 
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Next $5 billion  0.38%     
    Next $5 billion  0.37%     
    Next $5 billion  0.36%     
    Next $5 billion  0.35%     
    Any excess thereafter  0.34%     

R-14 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam VT Capital  20,881,561  First $500 million  0.65%  Yes  Long-term growth of capital. 
Opportunities Fund    Next $500 million  0.55%     
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam VT Diversified  394,540,191  First $500 million  0.70%  Yes  As high a level of current 
Income Fund    Next $500 million  0.60%    income as Putnam Management 
    Next $500 million  0.55%    believes is consistent with 
    Next $5 billion  0.50%    preservation of capital. 
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam VT Equity  359,696,288  First $500 million  0.65%  Yes  Capital growth and current 
Income Fund    Next $500 million  0.55%    income. 
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam VT The  208,322,777  First $500 million  0.65%  Yes  To provide a balanced 
George Putnam Fund    Next $500 million  0.55%    investment composed of a well 
of Boston    Next $500 million  0.50%    diversified portfolio of stocks 
    Next $5 billion  0.45%    and bonds which produce both 
    Next $5 billion  0.425%    capital growth and current 
    Next $5 billion  0.405%    income. 
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam VT Global  201,896,046  First $500 million  0.70%  Yes  A high level of long-term 
Asset Allocation Fund    Next $500 million  0.60%    total return consistent with 
    Next $500 million  0.55%    preservation of capital. 
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam VT Global  224,213,688  First $500 million  0.80%  Yes  Capital appreciation. 
Equity Fund    Next $500 million  0.70%     
    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Any excess thereafter  0.53%     
Putnam VT Global  127,814,985  First $500 million  0.70%  Yes  Capital appreciation. 
Health Care Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     

R-15 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam VT Global  173,031,611  First $500 million  0.70%  Yes  Capital growth and current 
Utilities Fund    Next $500 million  0.60%    income. 
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam VT Growth  1,297,384,949  First $500 million  0.65%  Yes  Capital growth and current 
and Income Fund    Next $500 million  0.55%    income. 
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam VT Growth  23,646,157  First $500 million  0.70%  Yes  Capital appreciation. 
Opportunities Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Next $5 billion  0.43%     
    Any excess thereafter  0.42%     
Putnam VT High  373,059,178  First $500 million  0.70%  Yes  High current income. Capital 
Yield Fund    Next $500 million  0.60%    growth is a secondary goal 
    Next $500 million  0.55%    when consistent with achieving 
    Next $5 billion  0.50%    high current income. 
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam VT Income  419,704,417  First $500 million  0.65%  Yes  High current income consistent 
Fund    Next $500 million  0.55%    with what Putnam Management 
    Next $500 million  0.50%    believes to be prudent risk. 
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam VT  544,173,598  First $500 million  0.80%  Yes  Capital appreciation. 
International Equity    Next $500 million  0.70%     
Fund    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Any excess thereafter  0.53%     
Putnam VT  161,602,131  First $500 million  0.80%  Yes  Capital growth. Current income 
International Growth    Next $500 million  0.70%    is a secondary objective. 
and Income Fund    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Any excess thereafter  0.53%     

R-16 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam VT  71,925,489  First $500 million  1.00%  Yes  Long-term capital appreciation. 
International New    Next $500 million  0.90%     
Opportunities Fund    Next $500 million  0.85%     
    Next $5 billion  0.80%     
    Next $5 billion  0.775%     
    Next $5 billion  0.755%     
    Next $5 billion  0.74%     
    Any excess thereafter  0.73%     
Putnam VT Investors  248,880,420  First $500 million  0.65%  Yes  Long-term growth of capital 
Fund    Next $500 million  0.55%    and any increased income that 
    Next $500 million  0.50%    results from this growth. 
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam VT Mid Cap  32,999,590  First $500 million  0.70%  Yes  Capital appreciation and, as a 
Value Fund    Next $500 million  0.60%    secondary objective, current 
    Next $500 million  0.55%    income. 
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam VT Money  404,476,263  First $500 million  0.45%  Yes  As high a rate of current income 
Market Fund    Next $500 million  0.35%    as Putnam Management 
    Next $500 million  0.30%    believes is consistent with 
    Next $5 billion  0.25%    preservation of capital and 
    Next $5 billion  0.225%    maintenance of liquidity, 
    Next $5 billion  0.205%     
    Next $5 billion and  0.19%     
    Any excess thereafter  0.18%     
Putnam VT New  515,123,447  First $500 million  0.70%  Yes  Long-term capital appreciation. 
Opportunities Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     
Putnam VT  63,206,346  First $500 million  0.65%  Yes  Capital appreciation. 
Research Fund    Next $500 million  0.55%     
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam VT Small Cap  225,069,717  First $500 million  0.80%  Yes  Capital appreciation. 
Value Fund    Next $500 million  0.70%     
    Next $500 million  0.65%     
    Next $5 billion  0.60%     
    Next $5 billion  0.575%     
    Next $5 billion  0.555%     
    Next $5 billion  0.54%     
    Any excess thereafter  0.53%     

R-17 

        Has compensation   
        been waived, reduced   
        or otherwise agreed to   
  Net Assets as of      be reduced under any   
Fund  June 30, 2009 ($)  Current Management Fee Schedule    applicable contract?  Current Investment Objective 
Putnam VT Vista Fund  166,258,852  First $500 million  0.65%  Yes  Capital appreciation. 
    Next $500 million  0.55%     
    Next $500 million  0.50%     
    Next $5 billion  0.45%     
    Next $5 billion  0.425%     
    Next $5 billion  0.405%     
    Next $5 billion  0.39%     
    Any excess thereafter  0.38%     
Putnam VT  852,750,034  First $500 million  0.70%  Yes  Capital appreciation. 
Voyager Fund    Next $500 million  0.60%     
    Next $500 million  0.55%     
    Next $5 billion  0.50%     
    Next $5 billion  0.475%     
    Next $5 billion  0.455%     
    Next $5 billion  0.44%     
    Any excess thereafter  0.43%     

The following table contains certain information regarding funds for which Putnam Management provides investment advisory services as a sub-adviser.

        Has compensation     
        been waived, reduced     
        or otherwise agreed to     
  Net Assets as of      be reduced under any  Current Investment   
Fund  June 30, 2009 ($)  Fee Schedule    applicable contract?  Objective  Fiscal Year 
Valic Company I:  212,897,488  0.44% of average daily net assets*  No  Capital appreciation.  5/31/08 
Global Equity Fund             
Valic Company I:  73,822,112  0.59% of average daily net assets*  No  To produce growth of  5/31/08 
Small Cap Special Values Fund^          capital by investing   
          primarily in common   
          stocks.   
Seasons Series Trust – Asset  200,879,804  0.40% of average daily net assets*  Yes  Capital appreciation.  3/31/08 
Allocation: Diversified Growth             
Portfolio             
SunAmerica Series Trust  232,332,264  First $100 million  0.85%  No  Long-term capital  1/31/09 
Emerging Markets Portfolio    Next $100 million  0.80%    appreciation.   
    Over $200 million  0.75%       
SunAmerica Series Trust:  348,290,019  First $150 million  0.65%  Yes  Growth of capital and  1/31/09 
International Growth & Income    Next $150 million  0.55%    secondarily, current   
Portfolio    Over $300 million  0.45%    income.   
Nationwide Variable Insurance  63,581,438  — **    No  Long term growth  12/31/08 
Trust – NVIT Multi-Manager          of capital.   
Small Company Fund^^             

^ Putnam Management currently sub-advises approximately 50% of the fund’s assets, with the remainder being advised by another investment adviser. The net assets provided here represent only those assets of the fund sub-advised by Putnam Management. The fee rate is a blended fee charged by all the sub-advisers.

^^Putnam Management is one of seven sub-advisers on this fund. The net assets provided here represent only those assets of the fund sub-advised by Putnam Management.

* The effective annual management fee rate is provided for these funds as the management fee schedule is not publicly disclosed.

** The sub-advisory fee rate is not publicly disclosed for this fund. The aggregate fees paid to all sub-advisers for the fiscal year ended 12/31/08 were $3,526,365, a portion of which was paid to Putnam Management.

R-18 

Appendix S — Payments to Putnam Management and its Affiliates

The following fees were paid by the funds to Putnam Management and its affiliates during each fund’s most recent fiscal year (ended between July 31, 2008 and June 30, 2009) (other than under a management contract). These services will continue to be provided regardless of whether the proposed management contract is approved.

  Fees paid to Putnam Investor  Fees paid to     
  Services, Inc. (and/or to  Putnam Fiduciary  Fees paid to Putnam Retail   
  Putnam Fiduciary Trust  Trust Company  Management Limited   
  Company) for serving as  for custody  Partnership pursuant to   
Fund  investor servicing agent ($) *  expenses ($)  distribution plans ($)  Fiscal Year End 
Putnam Absolute Return 100 Fund †  8,568  —  16,072  October 31, 2009 
Putnam Absolute Return 300 Fund †  15,825  —  35,146  October 31, 2009 
Putnam Absolute Return 500 Fund †  43,454  —  40,459  October 31, 2009 
Putnam Absolute Return 700 Fund †  30,832  —  24,893  October 31, 2009 
Putnam American Government Income Fund  1,276,862  5,727  1,937,582  September 30, 2008 
Putnam AMT-Free Municipal Fund  180,821  3,020  892,443  July 31, 2008 
Putnam Arizona Tax Exempt Income Fund  42,005  —  194,976  May 31, 2009 
Putnam Asia Pacific Equity Fund   —  —  —  April 30, 2010 
Putnam Asset Allocation: Balanced Portfolio  4,191,909  20,234  8,030,135  September 30, 2008 
Putnam Asset Allocation: Conservative Portfolio  2,198,843  12,382  2,519,309  September 30, 2008 
Putnam Asset Allocation: Equity Portfolio  30,725  —  —  May 31, 2009 
Putnam Asset Allocation: Growth Portfolio  6,335,059  50,218  10,366,246  September 30, 2008 
Putnam California Tax Exempt Income Fund  747,727  14,482  4,598,981  September 30, 2008 
Putnam Capital Opportunities Fund  1,984,818  —  1,267,109  April 30, 2009 
Putnam Capital Spectrum Fund   —  —  —  April 30, 2010 
Putnam Convertible Income-Growth Trust  1,078,779  3,160  2,350,971  October 31, 2008 
Putnam Diversified Income Trust  3,830,065  21,305  9,426,878  September 30, 2008 
Putnam Emerging Markets Equity Fund †  1,613  —  3,838  August 31, 2009 
Putnam Equity Income Fund  7,927,097  10,045  10,240,899  November 30, 2008 
Putnam Equity Spectrum Fund   —  —  —  April 30, 2010 
Putnam Europe Equity Fund  921,175  —  720,703  June 30, 2009 
Putnam Floating Rate Income Fund  478,650  —  1,303,765  February 28, 2009 
The Putnam Fund for Growth and Income  23,692,008  45,938  26,291,920  October 31, 2008 
The George Putnam Fund of Boston  7,954,095  40,791  11,968,159  July 31, 2008 
Putnam Global Consumer Fund †  2,548  —  1,452  August 31, 2009 
Putnam Global Energy Fund †  2,669  —  1,572  August 31, 2009 
Putnam Global Equity Fund  5,317,391  11,528  5,713,682  October 31, 2008 
Putnam Global Financials Fund †  2,470  —  1,335  August 31, 2009 
Putnam Global Health Care Fund  5,696,910  12,112  5,973,150  August 31, 2008 
Putnam Global Income Trust  335,921  6,552  530,797  October 31, 2008 
Putnam Global Industrials Fund †  2,563  —  1,434  August 31, 2009 
Putnam Global Natural Resources Fund  1,670,189  6,049  2,905,096  August 31, 2008 
Putnam Global Technology Fund †  2,596  —  1,505  August 31, 2009 
Putnam Global Telecommunications Fund †  2,534  —  1,430  August 31, 2009 
Putnam Global Utilities Fund  1,153,160  2,716  1,822,795  October 31, 2008 
Putnam Growth Opportunities Fund  2,008,857  5,745  2,327,243  July 31, 2008 
Putnam High Yield Advantage Fund  803,023  2,596  2,221,540  November 30, 2008 
Putnam High Yield Trust  3,644,786  15,136  5,695,719  August 31, 2008 
Putnam Income Fund  5,439,448  12,312  4,043,555  October 31, 2008 
Putnam Income Strategies Fund  102,425  —  75,641  February 28, 2009 
Putnam International Capital Opportunities Fund  5,547,073  27,449  7,992,825  August 31, 2008 
Putnam International Equity Fund  10,289,045  —  8,214,577  June 30, 2009 
Putnam International Growth and Income Fund  1,878,630  —  1,681,375  June 30, 2009 
Putnam International New Opportunities Fund  2,747,737  13,557  2,592,610  September 30, 2008 
Putnam Investors Fund  11,566,623  34,108  9,319,908  July 31, 2008 
Putnam Massachusetts Tax Exempt Income Fund  153,502  —  798,875  May 31, 2009 
Putnam Michigan Tax Exempt Income Fund  62,776  —  246,090  May 31, 2009 

S-1 

  Fees paid to Putnam Investor  Fees paid to     
  Services, Inc. (and/or to  Putnam Fiduciary  Fees paid to Putnam Retail   
  Putnam Fiduciary Trust  Trust Company  Management Limited   
  Company) for serving as  for custody  Partnership pursuant to   
Fund  investor servicing agent ($) *  expenses ($)  distribution plans ($)  Fiscal Year End 
Putnam Mid Cap Value Fund  2,344,311  —  1,999,985  April 30, 2009 
Putnam Minnesota Tax Exempt Income Fund  69,545  —  265,924  May 31, 2009 
Putnam Money Market Fund  7,972,332  21,924  823,226  September 30, 2008 
Putnam New Jersey Tax Exempt Income Fund  122,067  —  652,245  May 31, 2009 
Putnam New Opportunities Fund  10,069,468  —  7,043,070  June 30, 2009 
Putnam New York Tax Exempt Income Fund  641,744  3,336  2,794,953  November 30, 2008 
Putnam Ohio Tax Exempt Income Fund  97,892  —  406,337  May 31, 2009 
Putnam Pennsylvania Tax Exempt Income Fund  108,854  —  483,972  May 31, 2009 
Putnam Research Fund  2,224,115  7,830  2,267,365  July 31, 2008 
Putnam Small Cap Growth Fund  789,456  —  624,160  June 30, 2009 
Putnam Small Cap Value Fund  1,113,619  —  891,597  February 28, 2009 
Putnam Tax Exempt Income Fund  838,686  7,317  3,035,353  September 30, 2008 
Putnam Tax Exempt Money Market Fund  74,906  1,204  —  September 30, 2008 
Putnam Tax-Free High Yield Fund  872,829  12,461  3,433,079  July 31, 2008 
Putnam U.S. Government Income Trust  2,187,056  18,474  4,221,785  September 30, 2008 
Putnam Vista Fund  5,714,701  22,558  5,766,580  July 31, 2008 
Putnam Voyager Fund  22,171,336  60,833  16,260,442  July 31, 2008 
Putnam VT American Government Income Fund  46,457  —  158,892  December 31, 2008 
Putnam VT Capital Opportunities Fund  8,866  —  38,540  December 31, 2008 
Putnam VT Diversified Income Fund  123,344  —  522,128  December 31, 2008 
Putnam VT Equity Income Fund  59,884  —  232,463  December 31, 2008 
Putnam VT The George Putnam Fund of Boston  111,864  —  477,424  December 31, 2008 
Putnam VT Global Asset Allocation Fund  88,600  —  202,804  December 31, 2008 
Putnam VT Global Equity Fund  117,805  —  125,831  December 31, 2008 
Putnam VT Global Health Care Fund  50,404  —  249,427  December 31, 2008 
Putnam VT Global Utilities Fund  89,965  —  118,016  December 31, 2008 
Putnam VT Growth and Income Fund  653,985  —  1,050,080  December 31, 2008 
Putnam VT Growth Opportunities Fund  9,857  —  47,315  December 31, 2008 
Putnam VT High Yield Fund  129,590  —  311,855  December 31, 2008 
Putnam VT Income Fund  168,214  —  595,172  December 31, 2008 
Putnam VT International Equity Fund  271,855  —  1,551,772  December 31, 2008 
Putnam VT International Growth and  92,125  —  233,086  December 31, 2008 
Income Fund         
Putnam VT International New Opportunities Fund  60,736  —  294,220  December 31, 2008 
Putnam VT Investors Fund  102,466  —  526,428  December 31, 2008 
Putnam VT Mid Cap Value Fund  16,763  —  46,793  December 31, 2008 
Putnam VT Money Market Fund  143,196  —  569,542  December 31, 2008 
Putnam VT New Opportunities Fund  235,900  —  226,522  December 31, 2008 
Putnam VT Research Fund  30,418  —  152,625  December 31, 2008 
Putnam VT Small Cap Value Fund  108,508  —  638,383  December 31, 2008 
Putnam VT Vista Fund  72,372  —  344,406  December 31, 2008 
Putnam VT Voyager Fund  333,859  —  627,641  December 31, 2008 

* Prior to December 31, 2008, these investor servicing services were provided by Putnam Investor Services, a division of Putnam Fiduciary Trust Company, which is an affiliate of Putnam Management.

† Since these funds have not yet completed their first full fiscal year of operation, these amounts represent fees paid for a partial fiscal year.

√ Figures are not publicly available as these funds have not yet completed an annual or semiannual reporting period.

S-2 

Appendix T — 5% Beneficial Ownership

As of June 30, 2009, to the knowledge of the Putnam funds, no person owned beneficially or of record 5% or more of any class of shares of any Putnam fund, except as shown in the tables below.

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Absolute Return 100 Fund     
 
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  217,533  7.69% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  703,986  24.89% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  495,099  17.50% 
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  7,182  6.45% 
 
Oppenheimer & Co Inc CUST     
FBO Mr William Taylor     
15 Lambert St     
Roxbury, MA 02119-3506  7,878  7.07% 
 
Putnam Fiduciary Trust CO TTEE     
FBO Nickol K Layman     
15583 Wildwood Cir SE     
Prior Lake, MN 55372-2040  5,869  5.27% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  144,565  21.12% 
  
Class M     
American Enterprise Investment Svcs     
PO Box 9446     
Minneapolis, MN 55474-0001  7,324  39.16% 
 
NFS LLC     
FBO Bill Kovach     
5504 Park St     
Chevy Chase, MD 20815-7107  2,000  10.69% 
 
NFS LLC     
FBO Rebecca S Lime     
6640 215th Ave Ne     
Wyoming, MN 55092-9418  2,969  15.87% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  979  5.24% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  5.35% 
 
Wells Fargo Investments LLC     
A/C 4575-9500     
625 Marquette Ave Fl 13     
Minneapolis, MN 55402-2323  1,946  10.40% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  92.72% 
 
Class Y     
Prudential Investment Management Services   
100 Mulberry St     
3 Gateway Ctr, Fl 3     
Newark, NJ 07102-4061  128,994  16.87% 

 
Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Absolute Return 300 Fund     
 
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  842,796  15.18% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,033,015  18.61% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  374,595  21.47% 
 
Class M     
Putnam Fiduciary Trust Co     
TTEE FBO Gloria J Callihan     
3469 Elmhurst Cir     
Uniontown, OH 44685-8143  8,313  13.98% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Walter J Callihan     
3469 Elmhurst Cir     
Uniontown, OH 44685-8143  6,070  10.21% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Nicholas D Verlinger     
9872 Country Club Cir     
Twinsburg, OH 44087-2945  4,803  8.08% 
 
Class R     
First Clearing LLC Elayne Smiler     
Fountain Pointe     
225 Louis Ct     
Philadelphia, PA 19114-3200  2,441  27.08% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  4,985  55.30% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  500  5.55% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  11.09% 
Class Y     
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  158,383  18.26% 
 
Prudential Investment Management Services   
100 Mulberry St     
3 Gateway Ctr, Fl 3     
Newark, NJ 07102-4000  197,666  22.78% 
 
Putnam Investments Profit Sharing Plan*  82,248  9.48% 
 
Putnam Absolute Return 500 Fund     
 
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  587,060  9.58% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  481,171  7.85% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  327,277  19.10% 

T-1 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Absolute Return 500 Fund cont.     
 
Class M     
John G Lockwood TTEE The John G Lockwood Trust   
U/A DTD 10/02/1996     
1459 Camino Zalce     
San Diego, CA 92111-7616  8,908  10.23% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  4,753  5.46% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  667  13.61% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,187  44.61% 
 
Putnam Fiduciary Trust Co     
CUST FBO Franklin Public Schools 403(B) Plan   
A/C Jane S Hogan     
204 Rolling Meadow Dr     
Holliston, MA 01746-2631  787  16.05% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  20.40% 
 
Class Y     
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  184,463  17.49% 
 
Prudential Investment Management Services   
100 Mulberry St     
3 Gateway Ctr, Fl 3     
Newark, NJ 07102-4000  198,861  18.85% 
 
Putnam Investments Profit Sharing Plan*  210,884  19.99% 
 
Putnam Absolute Return 700 Fund     
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  270,348  6.93% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  560,527  14.37% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  164,011  20.49% 
 
Class M     
Elizabeth G Smith     
TTEE Clifford D Smith & Elizabeth G Smith Trust   
U/A DTD 01/27/1995     
4400 Avenue E     
White City, OR 97503-1454  4,275  6.46% 
 
First Clearing LLC     
A/C 1740-6637     
Lisa Tusset     
10354 N Territorial Rd     
Plymouth, MI 48170-5813  5,422  8.19% 
 
NFS LLC     
FBO Carol J Sinkovich     
811 Hoffer St     
Middletown PA, 17057-2840  5,467  8.26% 
 
Putnam Fiduciary Trust Co     
FBO Rosa L Cornelius     
1949 Baja Dr     
Los Fresnos, TX 78566-4222  5,870  8.87% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  658  32.35% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  291  14.30% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  49.16% 
 
Class Y     
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  128,908  20.27% 
 
Prudential Investment Management Services   
100 Mulberry St     
3 Gateway Ctr, Fl 3     
Newark, NJ 07102-4000  60,639  9.54% 
 
Putnam Investments Profit Sharing Plan*  198,159  31.17% 
 
Putnam American Government Income Fund   
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  138,885  6.43% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  272,197  24.69% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  177,547  16.10% 
 
Class M     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  58,298  22.58% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  24,877  9.63% 
 
Harold Azmelian, Philip Arpiarian &     
Armen Kalbian     
TTEE Holy Cross Church Endowment Trst     
U/A DTD 02/02/97     
428 Greenmount Ave     
Cliffside Pk, NJ 07010-1634  22,881  8.86% 
 
Class R     
Frontier Trust Company     
PO Box 10758     
Fargo, ND 58106-0758  4,845  7.94% 
 
JP Morgan Chase Bank     
4 New York Plaza Fl 15     
New York NY 10004-2413  27,568  45.17% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,180  6.85% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,747  6.14% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  8,662  14.19% 
 
Class Y     
Local Union No. 126 Retirement Plan**  260,405  26.05% 
 
Putnam Investments*  116,558  11.66% 
 
Putnam Investments Profit Sharing Plan*  358,265  35.83% 

T-2 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam AMT-Free Municipal Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,719,495  7.75% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,335,407  6.02% 
 
Class B     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  64,641  5.72% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  70,587  6.24% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  77,022  6.81% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  184,393  15.72% 
 
Class M     
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  5,795  6.74% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  9,083  10.56% 
 
First Clearing LLC     
E A Griffiths & B J Waters & R D Cooper TTEE   
2020 E 9th Ave     
Denver, CO 80206-3714  9,866  11.47% 
 
Joan M Novak & Eugene S Novak     
2091 E Parkview Cir     
Hoffman Est IL 60169-2644  5,368  6.24% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  18,589  21.62% 
 
NFS LLC     
FBO Elaine R Ames TOD     
P J Dalton TOD     
N S Ames TOD     
Deborah Naylor TOD     
4215 Miriana Way     
Sarasota, FL 34233-1466  6,964  8.10% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  7,988  9.29% 
 
Class Y     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  53,269  56.36% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  7,047  7.46% 
 
Wells Fargo Investments LLC     
625 Marquette Ave Fl 13     
Minneapolis, MN 55402-2323  5,360  5.67% 
 
Wells Fargo Investments LLC     
625 Marquette Ave Fl 13     
Minneapolis, MN 55402-2323  5,334  5.64% 
 
Wells Fargo Investments LLC     
625 Marquette Ave Fl 13     
Minneapolis, MN 55402-2323  4,956  5.24% 

 
Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Arizona Tax Exempt Income Fund   
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,282,180  17.29% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  436,565  5.89% 
 
Class B     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  61,910  15.31% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  23,599  5.84% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  27,860  6.89% 
 
Class C     
Mesirow Financial Inc     
Raymond Kultala     
350 North Clark Street     
Chicago, IL 60654-4712  17,708  13.83% 
 
Nfs LLC     
FBO The Young Family Trust     
William Norman Young U/A 05/19/2005     
3741 Vega Dr     
Lake Havasu City, AZ 86404-1716  28,281  22.08% 
 
Raymond James & Assoc Inc     
FBO Lydia H Welborn TTEE     
U/A DTD DEC 4 1992     
Welborn Family Trust     
7911 E Sage Dr     
Scottsdale, AZ 85250-7637  6,690  5.22% 
 
UBS Financial Services Inc.     
FBO William H Woodin III     
1422 Euclid Ave Ste 1010     
Cleveland, OH 44115-2001  6,872  5.37% 
 
Wells Fargo Investments LLC     
625 Marquette Ave Fl 13     
Minneapolis, MN 55402-2323  19,166  14.96% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  16,186  12.22% 
 
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  22,506  16.98% 
 
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  11,631  8.78% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  37,045  27.96% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  11,008  8.31% 
 
Robert W Baird & Co Inc     
777 E Wisconsin Ave     
Milwaukee, WI 53202-5300  9,621  7.26% 

T-3 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Arizona Tax Exempt Income Fund cont.   
 
Class Y     
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  2,092  19.48% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  7,458  69.43% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,191  11.09% 
 
Putnam Asia Pacific Equity Fund     
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  495,000  97.74% 
 
Class B     
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  727  17.68% 
 
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  726  17.66% 
 
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  726  17.66% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Larry W Moore     
2347 W Farm Road 112     
Springfield, MO 65803-7957  744  18.10% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  24.32% 
 
Class C     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  99.74% 
 
Class M     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  100.00% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  100.00% 
 
Class Y     
Putnam Investments Profit Sharing Plan*  12,758  92.73% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  7.27% 
 
Putnam Asset Allocation: Balanced Portfolio   
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  6,212,807  6.40% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  823,715  7.75% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class R     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  41,564  6.20% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  71,235  10.63% 
 
Class Y     
Arch Coal, Inc. Employee Thrift Plan***  2,015,136  6.52% 
 
Electrical Workers Local Union No. 369     
Retirement Plan***  5,606,535  18.14% 
 
Genlyte Thomas Group Retirement Savings   
and Investment Plan***  2,620,062  8.48% 
 
IBEW Local 3***  3,339,847  10.81% 
 
Local Union No. 126 Retirement Plan**  2,759,018  8.93% 
 
Putnam Retirement Ready 2015 Fund —     
Class A shares****  2,734,391  8.85% 
 
Putnam Retirement Ready 2020 Fund —     
Class A shares****  2,759,122  8.93% 
 
Putnam Asset Allocation: Conservative Portfolio   
 
Class A     
Putnam Fiduciary Trust Co     
1 Investors Way     
Norwood, MA 02062-1599  2,143,061  5.00% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  297,306  6.12% 
 
Class M     
Patterson & Co     
FBO Allegiant For Various Retirement Plans   
1525 West Wt Harris Blvd     
Charlotte, NC 28288-0001  198,716  14.22% 
 
Class R     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  32,676  13.46% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  14,201  5.85% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  14,125  5.82% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  13,692  5.64% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  12,503  5.15% 
 
Class Y     
Building Service Local 32B-J Supplemental   
Retirement Savings Plan***  3,410,929  5.35% 
 
Electrical Workers Local Union No. 369     
Retirement Plan***  48,419,955  75.96% 

T-4 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Asset Allocation: Equity Portfolio   
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  79.85% 
 
Ravi Akhoury     
6 Pine Valley Way     
Florham Park, NJ 07932-2700  100  7.98% 
 
Robert L Reynolds     
153 Garfield Rd     
Concord, MA 01742-4905  100  7.98% 
 
Class Y     
Retirement Ready 2040 Fund —     
Class A shares****  581,665  17.86% 
 
Retirement Ready 2035 Fund —     
Class A shares****  460,634  14.15% 
 
Retirement Ready 2045 Fund —     
Class A shares****  568,041  17.45% 
 
Retirement Ready 2050 Fund —     
Class A shares****  326,892  10.04% 
 
Retirement Ready 2035 Fund —     
Class Y shares****  249,905  7.68% 
 
Retirement Ready 2040 Fund —     
Class Y shares****  305,163  9.37% 
 
Retirement Ready 2045 Fund —     
Class Y shares****  275,150  8.45% 
 
Putnam Asset Allocation: Growth Portfolio   
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  7,876,757  7.48% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  1,236,435  9.55% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,377,503  10.64% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  52,685  6.08% 
 
Class Y     
Electrical Workers Local Union No. 369     
Retirement Plan***  1,961,629  7.32% 
 
IBEW Local 3***  4,960,188  18.52% 
 
Ironworkers St. Louis District Council     
Annuity Trust Fund***  1,543,276  5.76% 
 
Local Union No. 126 Retirement Plan**  1,766,954  6.60% 
 
Putnam Investments Profit Sharing Plan*  2,357,204  8.80% 
 
Retirement Ready 2030 Fund —     
Class A shares ***  2,388,767  8.92% 
 
Retirement Ready 2025 Fund —     
Class A shares***  2,331,411  8.70% 
 
Retirement Ready 2035 Fund —     
Class A shares***  1,376,133  5.14% 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam California Tax Exempt Income Fund   
 
Class A     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  15,886,748  7.52% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  14,487,890  6.86% 
 
Class B     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  397,050  8.83% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  380,117  8.45% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  364,342  7.00% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  318,383  6.11% 
 
Class M     
Diana Ajuria TTEE     
Edward & Kathleen Bernath     
REV TR U/A DTD 05/17/1978     
PO Box 1210     
Claremont, CA 91711-1210  37,797  7.63% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  27,410  5.54% 
 
NFS LLC     
FBO Lynne M Firoved TTEE     
Lynne Marie Firoved Family Trust     
U/A 12/3/03     
753 B Ave     
Coronado, CA 92118-2227  31,199  6.30% 
 
Susan Voigt & Richard Rosenberg     
TTEES Rosenberg Family Trust     
U/A DTD 04/21/1992     
2815 W Rainmaker     
Prescott, AZ 86305-7915  66,771  13.48% 
 
Class Y     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  166,742  8.97% 
 
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  273,514  14.71% 
 
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  180,613  9.71% 
 
Naidot & Co     
FBO A Fulmer 07 Intervivos Tst     
C/O Bessemer Trust Co     
100 Woodbridge Ctr Dr     
Woodbridge, NJ 07095-1162  180,791  9.72% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  284,206  15.29% 
 
Putnam Capital Opportunities Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,407,178  5.77% 

T-5

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Capital Opportunities Fund cont.     
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  73,649  5.02% 
 
Class R     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  17,237  6.35% 
 
Class Y     
D R Horton Inc. Profit Sharing Plan*  654,005  32.66% 
 
Multi Packaging Solutions     
Retirement Plan***  133,211  6.65% 
 
Putnam Investments*  139,543  6.97% 
 
Putnam Investments Profit Sharing Plan*  807,315  40.31% 
 
Wells Fargo – Retirement Plan Services     
PO Box 1533     
Minneapolis, MN 55480-1533  182,912  9.13% 
 
Putnam Capital Spectrum Fund     
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  530,000  75.54% 
 
Class B     
First Clearing LLC     
Joe H Hope Jr     
289 Locust Grove Rd     
Weaverville, NC 28787-8523  1,585  10.23% 
 
First Clearing LLC     
Mary M Shaw Trust     
6 Orchard Pl     
Weaverville, NC 28787-9009  1,345  8.69% 
 
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  933  6.03% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  2,004  12.94% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  1,336  8.63% 
 
Primevest Financial Services     
400 First Street SO Suite 300     
PO Box 283     
Saint Cloud, MN 56302-0283  820  5.29% 
 
Class C     
First Clearing LLC     
Michael J Miller     
14212 Redmond Dr     
Huntley, IL 60142-6386  1,627  6.94% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  1,359  5.80% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  1,337  5.71% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  1,299  5.54% 
 
Primevest Financial Services     
400 First Street SO Suite 300     
PO Box 283     
Saint Cloud, MN 56302-0283  2,663  11.37% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class M     
Anneliese E Carter     
TTEE Anneliese E Carter Trust     
U/A DTD 03/28/94     
539 Hickory Hollow Dr     
Canfield, OH 44406-1052  651  44.87% 
 
Putnam Fiduciary Trust Co TTEE     
FBO Angela S Mcilvaine For Rachel E Mcilvaine   
307 Sherrie Lane     
Northville, MI 48167-2720  76  5.26% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  667  45.94% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  667  100.00% 
 
Class Y     
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  457,400  69.24% 
 
Putnam Investments Profit Sharing Plan*  37,701  5.71% 
 
Putnam Convertible Income-Growth Trust   
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,870,703  5.90% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  3,264,936  10.29% 
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  161,800  16.53% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,534,739  45.05% 
 
Class M     
DCGT As TTEE and/or CUST FBO Principal   
Financial Group Qualified Prin Advtg Omnibus   
711 High Street     
Des Moines, IA 50309-2732  26,847  9.28% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  46,461  16.06% 
 
Class R     
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2t2     
Greenwood Village, CO 80111-5002  27,967  16.01% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  30,852  17.66% 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  25,646  14.68% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  19,483  11.15% 
 
Reliance Trust Company Assoc     
In Obstetrics & Gynecology     
PO Box 48529     
Atlanta, GA 30362-1529  18,635  10.67% 

T-6 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Convertible Income-Growth Trust cont.   
 
Class Y     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  189,882  9.09% 
 
Franklin & Marshall College     
PO Box 3199     
New York, NY 10008-3199  232,413  11.12% 
 
Putnam Investments Profit Sharing Plan*  296,323  14.18% 
Putnam Diversified Income Trust     
 
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  8,766,663  5.82% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  10,620,435  7.05% 
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  743,684  7.02% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  1,448,503  5.97% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  5,091,185  21.00% 
 
SMBC Friend Securities Co Ltd     
7-12 Kabuto-Cho Nihonbashi     
Chuo-Ku Tokyo 103     
Japan  2,497,580  10.30% 
 
Class M     
SMBC Friend Securities Co Ltd     
FBO Sumitomo Mitsui Banking Corp     
7-12 Kabuto-Cho Nihonbashi     
Chuo-Ku Tokyo 103     
Japan  47,884,100  79.98% 
 
SMBC Friend Securities Co Ltd     
7-12 Kabuto-Cho Nihonbashi     
Chuo-Ku Tokyo 103     
Japan  10,087,920  16.85% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  20,330  6.33% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  20,034  6.24% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  25,262  7.86% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  19,008  5.92% 
 
Class Y     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  798,710  7.72% 
 
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  1,552,030  14.99% 
Putnam Investments Profit Sharing Plan*  2,093,776  20.22% 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Emerging Markets Equity Fund     
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  495,000  43.12% 
 
Class B     
Resources Trust Co     
PO Box 5900     
Denver, CO 80217-5900  7,510  5.49% 
 
Resources Trust Co     
PO Box 5900     
Denver, CO 80217-5900  7,003  5.12% 
 
Resources Trust Co     
PO Box 5900     
Denver, CO 80217-5900  11,867  8.68% 
 
Resources Trust Co     
PO Box 5900     
Denver, CO 80217-5900  9,337  6.83% 
 
Class C     
Ann Dobroth     
PO Box 368     
Grover Beach, CA 93483-0368  1,126  5.86% 
 
First Clearing LLC     
David E Gee & Mary Sue Gee     
10 Whispering Pines Way     
Queensbury, NY 12804-9037  1,071  5.58% 
 
Luis Chavez & Teresa Chavez     
805 Saint Francis Dr     
Petaluma, CA 94954-4319  1,340  6.98% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  1,616  8.42% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  1,099  5.72% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Mark J Ruthenberg     
1001 N Stockton Hill Rd Ste A     
Kingman, AZ 86401-6277  1,506  7.84% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Frank M Tepedino     
44 Polo Club Dr     
Freehold, NJ 07728-8069  1,043  5.43% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  5.21% 
 
Class M     
Ameritrade Inc     
PO Box 2226     
Omaha, NE 68103-2226  1,488  8.22% 
 
NFS LLC     
FBO Nancy Speed     
1428 Phillips Lane Ste 102     
San Luis Obispo, CA 93401-2564  1,088  6.01% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Herman L Zeller     
1941 Pamela St     
Oxnard, CA 93036-2799  4,094  22.62% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Pamela K Shinogle     
PO BOX 118     
Kaw City, OK 74641-0118  2,467  13.63% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Nicholas D Verlinger     
9872 Country Club Cir     
Twinsburg, OH 44087-2945  1,049  5.80% 

T-7 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Emerging Markets Equity Fund cont.   
 
Class M cont.     
Putnam Fiduciary Trust Co     
TTEE FBO Harry J Steele Jr     
13350 Appaloosa Dr     
Lakeside, CA 92040-3401  986  5.45% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  5.53% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  100.00% 
 
Class Y     
 
Putnam Investments Profit Sharing Plan*  122,686  81.06% 
Putnam Investments*  17,101  11.30% 
 
Putnam Equity Income Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  24,731,329  14.12% 
 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,362,788  8.47% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  272,616  5.11% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  511,242  9.59% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  354,695  13.61% 
 
Class R     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  144,516  15.52% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  57,949  6.22% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  48,082  5.16% 
 
Class Y     
Ohio Tuition Trust Authority/     
College Advantage Program+  7,135,923  31.05% 
 
The Gores Group, LLC 401k Plan***  2,105,101  9.16% 
 
Marsh & McLennan Supplemental     
Retirement Plan***  3,436,476  14.95% 
 
IBEW Local 3***  3,592,551  15.63% 
 
Putnam Investments Profit Sharing Plan*  1,169,125  5.09% 
 
Putnam Equity Spectrum Fund     
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  263,333  66.44% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class B     
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  2,498  12.99% 
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  1,332  6.93% 
 
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  971  5.05% 
 
First Clearing LLC     
Karen E Sharp     
545 Ardsley Blvd     
Garden City, NY 11530-5639  2,230  11.60% 
 
First Clearing LLC     
Darrell E Hunter     
1544 Windswept Ridge Rd     
Marshall, NC 28753-6480  1,261  6.56% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  2,036  10.59% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  1,350  7.02% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  1,041  5.41% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Marie A Krenisky     
1852 US Highway 27 S Lot D26     
Avon Park, FL 33825-7239  1,333  6.93% 
 
Class C     
City National Bank     
PO Box 60520     
Los Angeles, CA 90060-0520  3,333  29.99% 
 
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  1,927  17.33% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Fred H Imrie     
5812 Mallard Ct     
Mentor, OH 44060-1812  667  6.00% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Paul R Kemerer     
3291 Tamarack Ln     
Wooster, OH 44691-8565  667  6.00% 
 
Putnam Investment Holdings,LLC     
One Post Office Square     
Boston, MA 02109-2106  667  6.00% 
 
Stifel Nicolaus & Co Inc     
FBO Joseph Galluzzo     
501 N Broadway     
Saint Louis, MO 63102-2131  675  6.07% 
 
Wells Fargo Investments LLC     
625 Marquette Ave Fl 13     
Minneapolis, MN 55402-2323  614  5.53% 
 
Class M     
First Clearing LLC     
Wayne L Hileman C/F Jake L Hileman UGMA NJ   
113 Haines Dr     
Moorestown, NJ 08057-2635  650  49.38% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  667  50.62% 

T-8 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Equity Spectrum Fund cont.     
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  667  100.00% 
 
Class Y     
Putnam Investments Profit Sharing Plan*  48,482  55.40 
 
Putnam Europe Equity Fund     
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  12,751  8.14% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  14,716  9.40% 
 
Class M     
Mr Spencer Covey     
576 Maple St     
San Mateo, CA 94402-2017  12,331  5.01% 
 
SMBC Friend Securities Co LTD     
7-12 Kabuto-Cho Nihonbashi     
Chuo-Ku Tokyo 103     
Japan  64,230  26.09% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,012  15.75% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  922  14.34% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  852  13.26% 
 
Class Y     
D R Horton Inc. Profit Sharing Plan***  290,191  49.08% 
 
NFS LLC     
FBO FIIOC As Agent For Qualified     
Employee Benefit Plans 401k     
Finops-Ic Funds     
100 Magellan Way # KW1C     
Covington, KY 41015-1987  36,203  6.12% 
 
Putnam Investments Profit Sharing Plan*  202,224  34.21% 
 
Putnam Floating Rate Income Fund     
 
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  1,199,376  5.62% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  2,922,302  13.69% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  629,902  8.96% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,458,921  20.75% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class M     
First Clearing LLC     
Nelson T Chisholm & Frances G Chisholm     
1203 Sandlewood Dr     
Hattiesburg, MS 39402-3040  27,158  8.56% 
 
UBS Financial Services Inc.     
FBO Loran Baxter & Margaret Baxter     
8711 E Pinnacle Peak Rd, PMB 110     
Scottsdale, AZ 85255-3517  63,313  19.95% 
 
UBS Financial Services Inc.     
FBO Phil Wagler Charitable Foundation     
3656 Massillon Rd     
Uniontown, OH 44685-7866  42,908  13.52% 
 
UBS Financial Services Inc.     
FBO MR Richard L Antoine     
PO Box 3321     
1000 Harbor Blvd     
Weehawken, NJ 07086-8154  34,096  10.74% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,285  12.63% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,217  12.25% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,330  7.35% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,016  5.61% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  981  5.42% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,235  6.82% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  3,763  20.79% 
 
Class Y     
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  543,244  5.23% 
 
Wachovia Bank     
1525 West Wt Harris Blvd NC 1151     
Charlotte, NC 28288-0001  2,752,996  26.51% 
 
Wells Fargo Bank NA     
FBO H & C Williams Equity LTD     
PO Box 1533     
Minneapolis, MN 55480-1533  886,197  8.53% 
 
Wells Fargo Bank NA     
FBO Osprey Properties LLP     
PO Box 1533     
Minneapolis, MN 55480-1533  714,000  6.88% 
 
The Putnam Fund for Growth and Income   
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  22,909,309  5.29% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  195,742  5.55% 

T-9

Shareholder Name and Address  Holdings  Percentage Owned 
The Putnam Fund for Growth and Income cont.   
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  293,820  7.68% 
 
Class R     
Capital Bank & Trust Co     
8515 E Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  100,616  31.76% 
 
Capital Bank & Trust Co     
8515 E Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  32,126  10.14% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  22,984  7.25% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  19,227  6.07% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  23,796  7.51% 
 
Class Y     
Electrical Contractors Association and     
Local Union 134, IBEW Joint Pension     
Trust of Chicago***  10,614,564  53.02% 
 
Fidelity Investments FIIOC Agent     
UTC Plans     
100 Magellan Way     
Covington, KY 41015-1999  2,550,765  12.74% 
 
IBEW Local 134**  2,406,463  12.02% 
Putnam Investments Profit Sharing Plan*  1,364,203  6.81% 
 
The George Putnam Fund of Boston     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  10,607,590  9.23% 
 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  537,425  5.94% 
 
Class M     
Carwash & Co     
ADP/State St Collective Trust     
U/A 5/97 State Street     
200 Newport Avenue Ext     
Quincy, MA 02171  6,563,312  79.32% 
 
Class R     
Frontier Trust Company Skilled Care Pharmacy   
PO Box 10758     
Fargo, ND 58106-0758  32,131  21.94% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  11,163  7.62% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  10,305  7.04% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  7,855  5.36% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class Y     
Chicago Regional Council of Carpenters     
Annuity Plan***  3,096,811  24.42% 
 
D R Horton Inc. Profit Sharing Plan***  990,444  7.81% 
 
Electrical Contractors Association and     
Local Union 134, IBEW Joint Pension     
Trust of Chicago***  1,651,466  13.02% 
 
The Gores Group, LLC 401k Plan***  764,933  6.03% 
 
IBEW Local 3***  2,859,956  22.56% 
 
Putnam Investments Profit Sharing Plan*  948,566  7.48% 
 
Securitas Security Services***  853,630  6.73% 
 
Putnam Global Consumer Fund     
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  295,294  93.90% 
 
Class B     
Danielle Biggin & Michael Biggin     
429 Philadelphia Ave     
Massapequa Park, NY 11762-1328  374  12.55% 
 
Douglas M Skupiewski     
332 Farmingdale Cir     
Vernon Hills, IL 60061-1910  546  18.33% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Fairmount Pharmacy Inc     
A/C Robert Woltjen     
1 Coles Ct     
Moorestown, NJ 08057-1445  928  31.19% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  33.63% 
 
Class C     
Douglas M Skupiewski     
332 Farmingdale Cir     
 
Vernon Hills, IL 60061-1910  718  20.83% 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  290  8.40% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Dr David Rhoads Optometrist     
401(K) Plan     
2445 Amy Lane     
Aurora, IL 60506-4201  643  18.67% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Brittany Marmitt     
28W516 Rogers Ave     
Warrenville, IL 60555-3427  422  12.26% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Infinity Wealth Management LLC   
A/C Irene J Doran     
45 Morgan Dr     
Sussex, NJ 07461-2703  216  6.28% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  29.04% 
 
Class M     
Putnam Fiduciary Trust Co     
TTEE FBO Robert F Klingensmith     
3370 Bristol Lane     
Cuyahoga Falls, OH 44223-3348  1,059  51.42% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  48.58% 

T-10 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Global Consumer Fund cont.     
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  100.00% 
 
Class Y     
NFS LLC FBO     
Willi Voelker     
Veronika Voelker     
3145 Via Del Monte Libano     
Vista, CA 92084-6558  4,558  37.83% 
 
NFS LLC FBO     
Richard Edward Doucet     
12474 Oakfort Ct     
San Diego, CA 92131-2231  942  7.81% 
 
Putnam Investments Profit Sharing Plan*  2,623  21.77% 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  8.31% 
 
Putnam Global Energy Fund     
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  295,088  69.42% 
 
Class B     
Collie Jo Addison     
TOD Myra M Addison     
4530 Bela Way     
Carmichael, CA 95608-1215  2,544  12.99% 
 
John M Lepi & Brenda S Lepi Ttees     
John M Lepi MD PSP     
5900 Lattimer Dr     
Nashport, OH 43830-9428  1,763  9.00% 
 
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  1,655  8.45% 
 
Putnam Fiduciary Trust Co     
CUST FBO Hershey Montessori School 403(B) Plan   
A/C Alyssa J Conklin     
16535 Rock Creek Rd     
Thompson, OH 44086-8753  1,286  6.56% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Maryann Bobo     
2343 Rainbow Ave     
Sacramento, CA 95821-4721  2,074  10.58% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Marlene E Winegar     
436 Blue Dolphin Way     
Sacramento, CA 95831-4137  1,239  6.33% 
 
Class C     
First Clearing LLC     
Johnson Family Trust     
Barbara N Johnson TTEE     
2600 Misty View Way     
Sierra Vista, AZ 85650-5727  930  8.24% 
 
Luis Chavez & Teresa Chavez     
805 Saint Francis Dr     
Petaluma, CA 94954-4319  1,084  9.61% 
 
Mesirow Financial Inc     
Delaware Charter Gty Trust     
FBO Richard J Franks     
350 N Clark St     
Chicago, IL 60654-4712  1,018  9.02% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  2,256  19.99% 

 
Shareholder Name and Address  Holdings  Percentage Owned 
 
Class C cont.     
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  916  8.12% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  8.86% 
 
Wells Fargo Investments LLC     
625 Marquette Ave Fl 13     
Minneapolis, MN 55402-2323  1,465  12.98% 
 
Class M     
Ann Dobroth     
PO Box 368     
Grover Beach, CA 93483-0368  838  15.84% 
 
Anneliese E Carter TTEE     
Anneliese E Carter Trust     
U/A DTD 03/28/94     
539 Hickory Hollow Dr     
Canfield, OH 44406-1052  845  15.99% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Sherman A Katz     
6847 Polpis Rd     
Reynoldsburg, OH 43068-7130  1,046  19.78% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Rosemarie Farber     
PO Box 8452     
Huntington Beach, CA 92615-8452  886  16.76% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  18.92% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  100.00% 
 
Class Y     
Putnam Investments Profit Sharing Plan*  11,231  77.97% 
 
Putnam Investments*  2,003  13.90% 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  6.95% 
 
Putnam Global Equity Fund     
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  116,219  5.68% 
 
Class R     
Capital Bank & Trust Co     
8515 E Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  57,096  29.73% 
 
Frontier Trust Company Skilled Care Pharmacy   
PO Box 10758     
Fargo, ND 58106-0758  24,757  12.89% 
 
Class Y     
March & McLennan Deferred Compensation Plans   
1166 Avenue of the Americas     
New York, NY 10036-2774  330,716  10.69% 
 
Morbark Employees 401K Savings Plan**  360,712  11.66% 
 
Putnam Investments*  323,065  10.44% 
 
Putnam Investments Profit Sharing Plan*  1,404,450  45.39% 

T-11 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Global Financials Fund     
 
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  78,836  16.09% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  295,235  60.27% 
 
Class B     
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  1,320  11.88% 
 
NFS LLC     
FBO Control & Integration Services LLC     
35 Tavella Pl     
Foothill Ranch, CA 92610-2205  559  5.03% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  758  6.82% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  649  5.84% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Varnell’s Powerline Construction Co Inc   
A/C Roy D Varnell     
RR 2 Box 192     
Sayre, OK 73662-4088  575  5.17% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  9.00% 
 
Class C     
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  2,783  16.26% 
 
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  1,361  7.96% 
 
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  1,908  11.15% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Mary Ann Ruocco     
4079 Sherri Lane     
Fort Mill, SC 29715-8390  2,791  16.31% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Lawrence A Bealer     
6509 79th St     
Middle Village, NY 11379-2716  934  5.46% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  5.85% 
 
Robert Gendreau Sr     
107-41 110th St     
Richmond Hill, NY 11419  1,789  10.46% 
 
Wells Fargo Investments LLC     
608 Second Avenue South 8th Fl     
Minneapolis, MN 55402-1927  1,437  8.40% 
 
Class M     
Larry L Mcferron & Linda K Mcferron     
Rr 2 Box 13     
Nowata, OK 74048-9604  83  6.22% 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  74.73% 

Shareholder Name and Address  Holdings  Percentage Owned 
Class M cont.     
Russell L Levings & Carolyn S Levings     
4640 Northridge Lane     
Noble, OK 73068-8102  255  19.06% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,001  100.00% 
 
Class Y     
Putnam Investments*  25,063  65.45% 
 
Putnam Investments Profit Sharing Plan*  12,228  31.93% 
 
Putnam Global Health Care Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,449,735  5.72% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,971,858  7.79% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  49,317  9.03% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  68,230  12.50% 
 
Class M     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  22,441  7.08% 
 
Class R     
Capital Bank & Trust Co     
8515 E Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  2,751  7.23% 
 
Greg Hedding And Randall Moroney     
8515 E Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  2,725  7.17% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,841  7.47% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,009  5.28% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,913  5.03% 
 
Class Y     
Putnam Investments*  63,189  18.69% 
 
Putnam Investments Profit Sharing Plan*  187,540  55.48% 
 
Putnam Global Income Trust     
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  35,141  5.38% 
 
Class M     
Mitsubishi UFJ Securities Co Ltd     
Marunouchi Building 2-4-1 Marunouchi     
Chiyoda-Ku Tokyo 100-6317 Japan 104  1,437,700  91.75% 

T-12 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Global Income Trust cont.     
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,175  9.61% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,397  5.52% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,192  5.05% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,156  7.27% 
 
TD Ameritrade Trust Company     
PO Box 17748     
Denver, CO 80217-0748  3,524  8.11% 
 
Class Y     
Putnam Investments*  35,796  8.71% 
 
Putnam Investments Profit Sharing Plan*  338,941  82.50% 
 
Putnam Global Industrials Fund     
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  295,667  93.01% 
 
Class B     
Putnam Fiduciary Trust Co     
CUST FBO Comsewogue School District     
A/C Philip Tamberino     
164 Pidgeon Hill Rd     
Huntington Station, NY 11746-4510  628  16.42% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Fairmount Pharmacy Inc     
A/C Robert Woltjen     
1 Coles Ct     
Moorestown, NJ 08057-1445  984  25.71% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,002  26.19% 
 
Thomas E Schryver & Beverly F Schryver     
1545 Dunster Rd     
York, PA 17403-4460  987  25.79% 
 
Class C     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,002  69.11% 
 
Thomas E Schryver & Beverly F Schryver     
1545 Dunster Rd     
York, PA 17403-4460  445  30.69% 
 
Class M     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,002  100.00% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,002  100.00% 
 
Class Y     
Putnam Investments*  270  7.44% 
 
Putnam Investments Profit Sharing Plan*  2,359  64.96% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,002  27.60% 

 
Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam Global Natural Resources Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,038,264  5.38% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  63,996  6.86% 
 
Class M     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  34,389  8.95% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  22,364  5.82% 
 
Class R     
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2t2     
Greenwood Village, CO 80111-5002  56,167  9.81% 
 
Class Y     
Putnam Investments Profit Sharing Plan*  457,237  73.09 
 
Putnam Global Technology Fund     
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  295,000  78.51% 
 
Class B     
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  518  6.37% 
 
Karyl S Hahn-Pizzari & Gregory Pizzari     
4322 Croft Cir     
Syracuse, NY 13215-1329  818  10.06% 
 
NFS LLC     
FBO Control & Integration Services LLC     
35 Tavella Pl     
Foothill Ranch, CA 92610-2205  459  5.65% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Anthony S Rampe     
14519 State Route 65     
Wapakoneta, OH 45895-9751  951  11.70% 
 
Putnam Fiduciary Trust Co     
TTEE FBO George J Fritz     
160 NW 7th St     
Boca Raton, FL 33432-2624  848  10.43% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Joseph Satterthwaite     
PO Box 115     
Piney Point, MD 20674-0115  593  7.30% 
 
Thomas E Schryver & Beverly F Schryver     
1545 Dunster Rd     
York, PA 17403-4460  731  8.99% 
 
Class C     
Diana L Nichols     
TOD Multiple Beneficiaries     
PO Box 850811     
Yukon, OK 73085-0811  158  6.36% 
 
Michael A Griggs     
TOD Sean Griggs     
644 SW 52nd St     
Oklahoma City, OK 73109-8004  170  6.82% 

T-13 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Global Technology Fund cont.     
 
Class C cont.     
NFS LLC     
FBO Harry J Powell     
41 Curtis Ave Apt C     
Marlborough, MA 01752-2675  523  21.05% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  40.21% 
 
Thomas E Schryver & Beverly F Schryver     
1545 Dunster Rd     
York, PA 17403-4460  327  13.14% 
 
Class M     
Putnam Fiduciary Trust Co     
TTEE FBO Susan B Kellett     
633 Fairview Ave     
Saint Louis, MO 63119-1808  699  21.98% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Danny A Pollock     
99 S Raymond Ave # 210     
Pasadena, CA 91105-2046  261  8.21% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  31.46% 
Steven T Wiehl & Nancy J Wiehl     
 
TTEES Harts Pharmacists Cust     
PO Box 475     
Williamstown, MA 01267-0475  1,220  38.36% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  100.00% 
 
Class Y     
Putnam Investments*  1,793  16.40% 
 
Putnam Investments Profit Sharing Plan *  7,439  68.04% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  9.15% 
 
Putnam Global Telecommunications Fund   
 
Class A     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  295,000  98.13% 
 
Class B     
Putnam Fiduciary Trust Co     
TTEE FBO Sherry F Mix     
12358 Fairhaven Dr     
Baton Rouge, LA 70815-6716  190  9.41% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Christopher G Orttel     
12850 Tyler St NE     
Blaine, MN 55434-3274  146  7.24% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  49.48% 
Thuy Bien     
CUST For Sarenna A Chhay     
U/MN UNIF Transfer To M/A     
16420 Griffon Trail     
Lakeville, MN 55044-9063  664  32.86% 
 
Class C     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  99.72% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class M     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  100.00% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  100.00% 
 
Class Y     
Putnam Investments Profit Sharing Plan*  2,407  70.65% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,000  29.35% 
 
Putnam Global Utilities Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  2,485,318  8.61% 
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  103,141  7.26% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  39,878  10.41% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  19,854  10.74% 
 
Class R     
Frontier Trust Company     
Caring For Women 401(K) Plan     
PO Box 10758     
Fargo, ND 58106-0758  11,514  10.87% 
 
Frontier Trust Company     
Micro-Mode Products Inc 401 K     
PO Box 10758     
Fargo, ND 58106-0758  6,525  6.16% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  6,990  6.60% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  10,077  9.51% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  9,863  9.31% 
 
Class Y     
Putnam Investments*  34,940  10.04% 
 
Putnam Investments Profit Sharing Plan*  224,488  64.49% 
 
 
Putnam Growth Opportunities Fund     
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  58,454  5.43% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,603  10.81% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,712  11.54% 

T-14 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Growth Opportunities Fund cont.   
 
Class R cont.     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,506  30.39% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,432  9.66% 
 
Class Y     
Putnam Investments Profit Sharing Plan  360,503  84.14 
 
Putnam High Yield Advantage Fund     
 
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  6,249,304  7.73% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  4,740,792  5.87% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  4,929,130  6.10% 
 
Maxim Moderate Profile II Portfolio     
C/O Great West Mutual Fund Trading     
8515 E. Orchard Rd # 2t2     
Greenwood Village, CO 80111-5002  4,106,363  5.08% 
 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  118,038  7.29% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  111,020  6.86% 
 
Class M     
MITSUBISHI UFJ Securities Co LTD     
Marunouchi Building 2-4-1     
Marunouchi Chiyoda-Ku     
Tokyo 100-6317     
Japan 104  33,748,916  96.47% 
 
Class R     
Great West Life & Annuity Fascore LLC     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  364,513  55.44% 
 
Great West Life & Annuity Fascore LLC     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  223,072  33.93% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  46,653  7.10% 
 
Class Y     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  3,117,713  40.71% 
D R Horton Inc. Profit Sharing Plan**  742,002  9.69% 
March & McLennan Supplemental     
Retirement Plan**  433,917  5.67% 
Putnam Investments Profit Sharing Plan*  777,832  10.16% 
US Bank FBO Iron Strategic Income Fund     
PO Box 1787     
Milwaukee, WI 53201-1787  883,501  11.54% 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam High Yield Trust     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  20,480,693  12.74% 
 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  919,219  8.81% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  496,800  9.56% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  149,171  5.80% 
 
Class R     
Counsel Trust DBA     
MATC D & J Printing Inc     
1251 Waterfront Pl Ste 525     
Pittsburgh, PA 15222-4228  27,627  8.23% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  18,224  5.43% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  22,834  6.80% 
 
Class Y     
Crane Companies Retirement     
Savings Plan***  634,077  10.38% 
Ohio Tuition Trust Authority/     
College Advantage Program+  2,319,020  37.94% 
 
Putnam Investments Profit Sharing Plan*  785,124  12.85% 
 
Putnam Income Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  6,723,339  7.34% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  472,020  10.69% 
 
Class M     
Mizuho Investors Securities     
Shibusawa City Place 1-13-16     
Kayaba-Cho Nihonbashi     
Chuo-Ku Tokyo     
Japan 103 8658  29,064,300  95.18% 
 
Class R     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  58,301  17.74% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  56,396  17.16% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  20,932  6.37% 
 
Class Y     
Ohio Tuition Trust Authority/     
College Advantage Program+  23,907,093  83.53 

T-15 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Income Strategies Fund     
 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  6,219  5.33% 
 
U.S. Bancorp Investments Inc.     
60 Livingston Ave     
Saint Paul, MN 55107-2292  6,463  5.54% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  32,078  10.74% 
 
NFS LLC     
FBO Robert A Mcarthur     
1085 Archer Lane     
Lansdale, PA 19446-4820  18,924  6.34% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  2,612  8.48% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Rosa L Cornelius     
1949 Baja Dr     
Los Fresnos, TX 78566-4222  24,036  78.01% 
 
Class R     
Putnam LLC     
One Post Office Square     
Boston, MA 02109  116  100.00% 
 
Class Y     
Putnam Retirement Ready 2010 Fund —     
Class A shares****  724,854  24.92% 
 
Putnam Retirement Ready 2010 Fund —     
Class Y shares****  220,996  7.60% 
 
Putnam Retirement Ready 2015 Fund —     
Class A shares****  352,776  12.13% 
 
Putnam Retirement Ready Maturity Fund —   
Class A shares****  1,031,826  35.47% 
 
Putnam Retirement Ready Maturity Fund —   
Class Y shares****  327,401  11.26% 
 
Putnam International Capital Opportunities Fund   
 
Class A     
Charles Schwab & Co Inc     
101 Montgomery St     
San Francisco, CA 94104-4151  1,780,051  5.60% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  246,355  11.08% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  267,882  12.05% 
 
Class R     
Great West Life & Annuity Fascore LLC     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  634,063  39.22% 
 
Great West Life & Annuity Fascore LLC     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  95,877  5.93% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  174,485  10.79% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  89,116  5.51% 

Shareholder Name and Address  Holdings  Percentage Owned 
Class Y     
Great West Life & Annuity Insurance     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  284,590  8.41% 
 
New York Life Trust Company     
690 Canton St Ste 100     
Westwood, MA 02090-2324  465,185  13.75% 
 
Ohio Tuition Trust Authority/     
College Advantage Program+  522,009  15.44% 
 
Putnam Investments Profit Sharing Plan*  640,163  18.93% 
 
Putnam International Equity Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  4,411,411  5.07% 
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  505,716  5.58% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  656,910  10.65% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,075,828  17.44% 
 
Class R     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  41,930  17.86% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  19,800  8.44% 
 
Class Y     
Electrical Contractors Association     
And Local Union 134, IBEW     
Joint Pension Trust Of Chicago***  1,845,243  18.73% 
First Hawaiian Future Plan***  1,407,529  14.28% 
NFS LLC     
FBO FIIOC As Agent For Qualified Employee   
Benefit Plans 401k Finops-Ic Funds     
100 Magellan Way # KW1C     
Covington, KY 41015-1987  765,412  7.77% 
 
Ohio Tuition Trust Authority/     
College Advantage Program+  944,890  9.59% 
 
Putnam Investments Profit Sharing Plan*  1,056,327  10.72% 
 
Wells Fargo – Retirement Plan Service     
PO Box 1533     
Minneapolis, MN 55480-1533  922,957  9.37% 
 
Putnam International Growth and Income Fund   
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  7,673,257  21.60% 
 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  419,437  11.39% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  119,209  6.92% 

T-16 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam International Growth and Income Fund cont.   
 
Class C cont.     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  269,068  15.63% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  120,089  16.66% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  39,594  5.49% 
 
Class R     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  33,182  12.24% 
 
Class Y     
The Gores Group, LLC 401k Plan***  3,340,752  82.78% 
 
Putnam Investments Profit Sharing Plan*  483,471  11.98% 
 
Putnam International New Opportunities Fund   
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,476,009  5.60% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  55,346  7.58% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  84,141  11.53% 
 
Class M     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  37,228  5.31% 
 
Class R     
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  44,960  39.90% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  9,277  8.23% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  9,182  8.15% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  6,965  6.18% 
 
Class Y     
Fruit of the Loom 401k Retirement     
 
Savings Plan***  911,387  45.93% 
 
Putnam Investments Profit Sharing Plan*  850,023  42.84% 
 
Putnam Investors Fund     
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  337,195  9.00% 
 
Class M     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  160,417  7.27% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class R     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  25,261  19.53% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  8,301  6.42% 
 
Class Y     
IBEW Local 3***  5,952,744  67.01% 
 
Putnam Investments Profit Sharing Plan*  1,099,502  12.38% 
 
Putnam Massachusetts Tax Exempt Income Fund   
 
Class A     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,452,686  5.65% 
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  211,188  11.60% 
 
Class M     
First Clearing LLC     
Cynthia Babbitt Bryden     
TTEE Cynthia B Bryden     
496 BB Sams Dr     
Dataw Island, SC 29920-3007  20,190  5.12% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  29,476  7.47% 
 
NFS LLC     
FBO Andrea Matoes     
238 Plymouth Ave     
E Wareham, MA 02538-1185  34,308  8.70% 
 
Stifel Nicolaus & Co Inc     
John M Whittier Jr     
501 N Broadway     
Saint Louis, MO 63102-2131  72,016  18.26% 
 
Class Y     
NFS LLC     
FBO William J Fitzgerald     
333 Ricciuti Dr Apt 121     
Quincy, MA 02169-6289  83,819  8.25% 
 
Putnam Michigan Tax Exempt Income Fund   
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,401,413  15.05% 
 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  40,737  8.48% 
 
Helen C Dzurka & Theodore P Dzurka     
TOD Mary Ann Wanda-Makl     
2788 Midland Rd     
Bay City, MI 48706-9263  30,076  6.26% 
 
Class C     
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  3,229  10.54% 
 
Calvin O Zorza Joan M Zorza     
TTEES Calvin O And Joan M Zora Living Trust   
U/A DTD 09/07/2005     
737 Grove St     
Marquette, MI 49855-9438  2,513  8.20% 

T-17 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Michigan Tax Exempt Income Fund cont.   
 
Class C cont.     
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  5,826  19.01% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  3,508  11.45% 
 
Raymond James & Assoc Inc     
FBO Virginia M Weber     
TTEE U/A DTD May 8, 2006     
Virginia M Weber Trust     
5446 Maxine Ct     
Bay City, MI 48706-9743  3,004  9.80% 
 
Raymond James & Assoc Inc     
FBO Raymond J Green & Shirley P Green     
TTEE Raymond J Green Rev Living Trust     
46200 Pickford St     
Northville, MI 48168-1817  2,610  8.52% 
 
Raymond James & Assoc Inc     
FBO Melvyn K Adelman & Myrna Adelman     
TTEE Melvyn K & Myrna Adelman Trust     
401 Meadow Dr     
Essexville, MI 48732-1621  2,403  7.84% 
 
Class M     
Adrian Vereeke     
8144 Lake Wood Dr     
Portage, MI 49002-5564  3,912  5.13% 
 
First Clearing LLC     
Elsie L Miller     
TTEE Elsie L Miller Trust U/A 1400     
N Drake Rd Apt 184     
Kalamazoo, MI 49006-1971  30,640  40.17% 
 
First Clearing, LLC     
Dorothy F Thome Trust     
Dorothy F Thome TTEE     
1843 Bluehill Dr NE     
Grand Rapids, MI 49525-1152  6,835  8.96% 
 
Frank R Farkas     
840 Ducey Ave     
Muskegon, MI 49442-2102  25,810  33.84% 
 
Class Y     
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  7,111  64.05% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  2,350  21.17% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,190  10.72% 
 
Putnam Mid Cap Value Fund     
 
Class A     
Maxim Aggressive Profile II Portfolio     
C/O Great-West Mutual Fund Trading     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  5,703,320  10.88% 
 
Maxim Moderate Profile II Portfolio     
C/O Great-West Mutual Fund Trading     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  5,302,949  10.12% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  89,635  5.28% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class M     
Frontier Trust Company Equipment Depot     
PA Retirement Savings     
PO Box 10758     
Fargo, ND 58106-0758  88,547  16.95% 
Class R     
Gpc Securities Inc Dmg Inc. 401k Plan & Trust   
Reliance Trust Co Dmg Inc. 401k Plan & Trust   
PO Box 79377     
Atlanta, GA 30357-7377  42,581  5.43% 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  143,360  18.29% 
Class Y     
Marsh & McLennan Supplemental     
Retirement Plan***  2,905,402  72.20% 
Putnam Investments Profit Sharing Plan*  677,858  16.84% 
 
Putnam Minnesota Tax Exempt Income Fund   
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,664,046  18.20% 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  54,436  7.17% 
Jeannine E Meyer     
TTEE Lorraine M Peltier Trust     
U/A DTD 12/09/2003     
1365 Christensen Ave West     
St Paul, MN 55118-3204  46,143  6.08% 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  164,470  49.32% 
 
Class M     
Barbara J Greenhalgh     
2224 E 36th St     
Minneapolis, MN 55407-3015  4,328  6.12% 
 
Gertrude L PalubickI     
TOD Susan M Merten     
576 E 2nd St     
Winona, MN 55987-4217  5,875  8.31% 
 
Gertrude L Palubicki     
TOD Ann L P Gustin     
576 E 2nd St     
Winona, MN 55987-4217  5,875  8.31% 
 
James T Biesanz Jr     
270 W Broadway St     
Winona MN 55987-5224  5,003  7.08% 
 
NFS LLC     
FBO Merchants Bank NA     
PO Box 248     
Winona, MN 55987-0248  4,990  7.06% 
 
Scott K Biesanz     
TTEE Scott K Biesanz Rev Trust U/A     
DTD 01/12/2005     
724 Washington St     
Winona, MN 55987-3350  5,003  7.08% 
 
Steven T Biesanz     
11 Knollwood Ln     
Winona, MN 55987-4082  5,003  7.08% 

T-18 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Minnesota Tax Exempt Income Fund cont.   
 
Class R cont.     
Stifel Nicolaus & Co Inc     
Richard E Wuttke, Charlotte A. Wuttke,     
Bruce Wuttke     
501 North Broadway     
St Louis, MO 63102-2131  9,151  12.95% 
 
Class Y     
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  2,998  40.16% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  2,384  31.93% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  888  11.89% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,196  16.02% 
 
Putnam Money Market Fund     
 
Class M     
Abelman Frayne Schwab 401(k) Plan***  3,962,487  8.20% 
 
Class R     
Frontier Trust Company     
Automatic Laundry Services Co Inc     
PO Box 10758     
Fargo, ND 58106-0758  721,952  7.77% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  689,638  7.42% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  566,760  6.10% 
 
Office & Charlie Browns 401k Counsel     
Trust DBA MATC     
1251 Waterfront Pl Ste 525     
Pittsburgh, PA 15222-4228  1,026,081  11.04% 
 
Class T     
Anshen & Allen Profit Sharing***  1,384,503  5.08% 
 
Great West IRA Advantage*  4,523,093  16.59% 
 
Rutherford Chekene Tax Sheltered     
Savings Plan***  2,034,356  7.46% 
 
Sakata Employee Profit Sharing and     
Savings Plan***  2,867,268  10.52% 
 
Southern Steel Company 401k Plan***  2,683,972  9.85% 
 
Putnam Money Market Liquidity Fund     
 
Class P     
The George Putnam Fund     
of Boston****  182,605,826  7.49% 
 
Putnam Income Fund ****  195,810,156  8.03% 
 
Putnam U.S. Government     
Income Trust ****  159,026,427  6.52% 
 
Putnam Diversified Income Trust****  154,768,761  6.35% 
 
Putnam Asset Allocation Fund:     
Growth Portfolio****  185,140,326  7.59% 
 
Putnam Asset Allocation Fund:     
Balanced Portfolio****  240,691,586  9.87% 
 
Putnam Asset Allocation Fund:     
Conservative Portfolio****  189,691,318  7.78% 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam New Jersey Tax Exempt Income Fund   
 
Class A     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  1,407,479  7.15% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  1,304,739  6.63% 
 
Class B     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  159,421  7.04% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  92,242  6.31% 
 
Class M     
Francis X Murphy     
31 Wedgewood Dr Apt 62     
Verona, NJ 07044-2191  52,159  22.66% 
 
Leonard Cavaliere & Joseph Cavaliere     
21 King George Rd     
Warren, NJ 07059-7014  14,991  6.51% 
 
Marie C Franklin     
683 RT 579     
Pittstown, NJ 08867  73,200  31.79% 
 
Shaila Y Karandikar     
203 Sherwood Ct     
Somerset, NJ 08873-6029  22,381  9.72% 
 
Class Y     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  20,418  7.59% 
 
NFS LLC     
FBO Denise Vaknin     
99 Roberts Rd     
Englewood Cliffs, NJ 07632-2318  34,376  12.79% 
 
NFS LLC     
FBO Sarika Sharma     
28 Laurie Dr     
Englewood Cliffs, NJ 07632-2222  25,698  9.56% 
 
NFS LLC     
FBO Gerard Woods     
106 Naylon Ave     
Livingston, NJ 07039-1006  22,933  8.53% 
 
NFS LLC     
FBO Alkis A Vazacopoulos Lora Vazacopoulos   
202 The Parkway     
Harrington Park, NJ 07640  22,915  8.52% 
 
NFS LLC     
FBO Elaine S Laikin     
36 Stonybrook Rd     
Tenafly, NJ 07670-1118  20,334  7.56% 
 
NFS LLC     
FBO Annette Roge     
11 N Taylor St     
Bergenfield, NJ 07621-2113  17,651  6.57% 
 
NFS LLC     
FBO Michael B Harris Freida G Harris     
233 Maple St     
Englewood, NJ 07631-3703  17,289  6.43% 
 
NFS LLC     
FBO Gloria Mittman     
1 Horizon Rd     
Fort Lee, NJ 07024-6502  14,312  5.32% 

T-19 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam New Opportunities Fund     
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  46,525  5.24% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  44,734  5.04% 
 
Class M     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  64,454  5.47% 
 
Class R     
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  13,737  23.61% 
 
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  6,866  11.80% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,098  7.04% 
 
Class Y     
Fidelity Investments — Certain Employee     
Benefit Plans     
100 Magellan Way #KWIC     
Covington, KY 41015-1999  1,263,207  18.69% 
 
IBEW Local 3***  3,489,081  51.63% 
 
Marsh & McLennan Supplemental     
Retirement Plan***  503,152  7.45% 
 
Putnam Investments Profit Sharing Plan*  444,749  6.58% 
 
Putnam New York Tax Exempt Income Fund   
 
Class A     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  7,091,204  5.70% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  10,918,703  8.78% 
 
Class B     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  200,801  6.09% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  232,261  7.04% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  574,237  15.02% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  31,880  14.36% 
 
Paul A Detiberiis & Lorraine Detiberiis     
TOD Multiple Beneficiaries     
16136 91st St     
Howard Beach, NY 11414-3424  21,981  9.90% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  43,353  19.52% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  25,487  11.48% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class M cont.     
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  13,496  6.08% 
 
Raymond J Matthews     
TTEE Family Trust Under The Living Trust Of   
Raymond & Kathleen Matthews     
U/A DTD 12/23/1996     
5 Fenton St     
Melville, NY 11747-1317  13,603  6.13% 
 
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  90,311  43.98% 
 
NFS LLC     
FBO Michael E Leffler     
43 Meadow Rd     
Scarsdale, NY 10583-7641  42,065  20.48% 
 
NFS LLC     
FBO Bernard C Feuer     
5 Aber Terrace     
New City, NY 10956-5801  23,802  11.59% 
 
NFS LLC     
FBO Luis Cedillo     
43 Bronx River Rd Apt 5B     
Yonkers, NY 10704-4420  14,575  7.10% 
 
NFS LLC     
FBO John R Tabano Betty M Tabano     
297 Edwards Hill Rd     
Oak Hill, NY 12460-2021  12,428  6.05% 
 
NFS LLC     
FBO Sherry Putter     
150 W 56th St Apt 6304     
New York, NY 10019-3884  11,596  5.65% 
 
Putnam Ohio Tax Exempt Income Fund     
 
Class A     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  907,673  5.73% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  1,908,634  12.05% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  878,049  5.54% 
 
Class B     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  64,155  9.54% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  39,681  6.68% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  60,885  10.24% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  134,404  22.61% 
 
Class M     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  5,766  5.00% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  8,032  6.97% 

T-20 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Ohio Tax Exempt Income Fund cont.   
 
Class M cont.     
John Susong     
TTEE John Susong Trust     
U/A DTD 02/15/1999     
9433 Pontius St NE     
Alliance, OH 44601-9793  13,992  12.14% 
 
UBS Financial Services Inc.     
FBO Pine Hills Golf Club Inc     
433 W 130th St     
Hinckley, OH 44233-9566  59,113  51.29% 
 
Class Y     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  11,879  73.84% 
 
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  1,637  10.17% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,184  7.36% 
 
Putnam Pennsylvania Tax Exempt Income Fund   
 
Class C     
LPL Financial     
9785 Towne Centre Dr     
San Diego, CA 92121-1968  59,646  5.47% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  98,284  9.01% 
 
NFS LLC     
Fbo Curtis A Roney Tod Sharon R Myers     
800 W Keller St     
Mechanicsburg, PA 17055-7518  68,054  6.24% 
 
Class M     
Grace M Berardi     
TOD Multiple Beneficiaries     
402 Academy St     
Peckville, PA 18452-1602  18,487  6.90% 
 
Jill F Willcox     
226 Ivy Mills Road     
Glen Mills, PA 19342-1423  18,259  6.81% 
 
John J Handley & Joyce A Handley     
495 Lake Louise Rd     
Dallas, PA 18612-6063  108,003  40.30% 
 
UBS Financial Services Inc.     
FBO Mary N Stewart     
Light House Point-Apt 316     
500 Chapel Harbor Drive     
Pittsburgh, PA 15238-3144  24,245  9.05% 
Cla ss Y     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  1,731  8.69% 
 
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  16,068  80.70% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  1,178  5.92% 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Research Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  900,061  5.74% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  806,376  5.14% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  57,256  5.71% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  53,962  5.38% 
 
Class R     
Counsel Trust DBA MATC D & J Printing Inc     
401k Profit Sharing Plan & Trust     
1251 Waterfront Pl Ste 525     
Pittsburgh, PA 15222-4228  888  10.06% 
 
D Nederveld & J Mckelvey     
TTEES Case Engineering 401k Plan & Trust     
FBO David L Nederveld     
5925 Imperial Pkwy Ste 226     
Mulberry, FL 33860-8690  1,320  14.96% 
 
D Nederveld & J Mckelvey     
TTEES Case Engineering 401k Plan & Trust     
FBO Gail Gravatt     
5925 Imperial Pkwy Ste 226     
Mulberry, FL 33860-8690  585  6.63% 
 
Lee & Kathryn Buchert     
TTEES Pottstown Burial Vault Co     
401k Profit Sharing Plan & Trust     
135 Quarry Rd     
PO Box 238     
Douglassville, PA 19518-0238  734  8.32% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  587  6.66% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  494  5.60% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,993  22.60% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  719  8.15% 
 
Class Y     
Putnam Investments*  16,353  8.72% 
 
Putnam Investments Profit Sharing Plan*  268,688  82.95% 
 
Putnam RetirementReady 2010 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  129,641  11.21% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  85,627  7.41% 

T-21 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam RetirementReady 2010 Fund cont.   
 
Class B     
Putnam Fiduciary Trust Co     
CUST FBO Unified School District 409     
403(B) Plan     
A/C Mary J Laincz     
286th Rd     
Atchison, KS 66002-4527  2,599  19.48% 
 
Putnam Fiduciary Trust Co     
CUST FBO South Hero Elementary School     
403(B) Plan     
A/C Michael E Freed-Thall     
166 Blackberryhill Rd     
East Fairfield, VT 05448-9626  1,470  11.01% 
 
Putnam Fiduciary Trust Co     
TTEE FBO USD LLC Simple Ira Plan     
A/C Margarito Macias     
3248 S Kedvale Ave     
Chicago, IL 60623-4823  1,198  8.98% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Hua Hsing Wei Ira Plan     
9146 Emperor Ave     
San Gabriel, CA 91775-2019  1,187  8.89% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Dunkelberg Mckinley Folkers Walk   
Sep Ira Plan     
A/C Michelle A Grimm     
3019 360th St     
Osage, IA 50461-8520  883  6.62% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Donna M Maurer     
2612 Struble Rd     
Cincinnati, OH 45231-1746  692  5.19% 
 
Class C     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  3,834  18.73% 
 
Putnam Fiduciary Trust Co     
CUST FBO Fairport Central Schools 403(B) Plan   
A/C Donna W Barnes     
29 Aldrich Rd     
Fairport, NY 14450-9586  2,667  13.03% 
 
Putnam Fiduciary Trust Co     
CUST FBO City Of Taunton 403(B) Plan     
A/C Jane Bigelow     
75 Bayview Ave     
Berkley, MA 02779  1,374  6.72% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Otto Eachus     
805 Mason Dr     
Roswell, NM 88201-1138  5,613  27.43% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Pamela S Morrison     
2321 Natalie Place     
Oxnard, CA 93030-4717  1,595  7.79% 
 
Putnam Fiduciary Trust Co     
TTEE FBO First Nations Community     
Simple Ira Plan     
A/C Joseph Daniels     
1 White Mesa Trail     
Placitas, NM 87043-8856  1,355  6.62% 
 
Class M     
Putnam Fiduciary Trust Co     
TTEE FBO Gloria B Chacon     
314 Charles Dr     
Grants, NM 87020-2497  806  17.99% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Gudrun R Durmon     
PO Box 1176     
Lake City, CO 81235-1176  430  9.59% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class M cont.     
Putnam Fiduciary Trust Co     
TTEE FBO Taresa D Elliott     
2310 Fairgrounds Blvd     
Kingman, AZ 86401-4616  372  8.30% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Donald R Geary     
4817 Steinke Dr     
Kingman, AZ 86409-1067  347  7.76% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Donna F Kuehn     
1732 Pine Valley St     
Las Cruces, NM 88011-4984  336  7.51% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Harry L Elliott     
1954 Chicago Ave     
Kingman, AZ 86401-4111  301  6.72% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Glenn D Kuehn     
1732 Pine Valley St     
Las Cruces, NM 88011-4984  258  5.75% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  5,512  22.87% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,745  7.24% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,339  5.56% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  5,853  24.28% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,154  8.93% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,021  8.39% 
 
Class Y     
AZ Materials Inc. 401(k) Plan***  35,547  11.36% 
 
D R Horton Inc. Profit Sharing Plan***  67,046  21.44% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  128,745  41.16% 
 
Mechanical Union Savings Trust     
401(k) Plan***  39,258  12.55% 
 
Putnam Investments Profit Sharing Plan*  30,154  9.64% 
 
Putnam RetirementReady 2015 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  799,856  26.03% 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  359,928  11.72% 
 
Class B     
Putnam Fiduciary Trust Co     
CUST FBO Westfield State College 403(B) Plan   
A/C Lori L Letendre     
9 Apple Orchard Heights     
Westfield, MA 01085-3939  6,970  18.42% 

T-22 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam RetirementReady 2015 Fund cont.   
 
Class B cont.     
Putnam Fiduciary Trust Co     
CUST FBO University Of Cincinnati 403(B) Plan   
A/C Allen S Daniels     
860 Ludlow Ave     
Cincinnati, OH 45220-1432  4,234  11.19% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Auto Mark Inc Sar Sep Plan     
A/C Dale C Lackore     
10387 Balsam Lane     
Eden Prairie, MN 55347-4527  2,712  7.17% 
 
Class C     
Putnam Fiduciary Trust Co     
CUST FBO Fairport Central Schools 403(B) Plan   
A/C Donna W Barnes     
29 Aldrich Rd     
Fairport, NY 14450-9586  3,234  21.94% 
 
Putnam Fiduciary Trust Co     
CUST FBO Montcalm Area Intermed Sch Dist   
403(B) Plan     
A/C Lynne M Kesterke     
1660 Vining Rd     
Greenville, MI 48838-9286  1,427  9.68% 
 
Putnam Fiduciary Trust Co     
CUST FBO Spencerport Central School Dist     
403(B) Plan     
A/C Margaret M Kelsey     
98 Cambridge Rd     
Hilton, NY 14468-1453  808  5.48% 
 
Putnam Fiduciary Trust Co     
CUST FBO Beavercreek City Schools 403(B) Plan   
A/C Caye A Black     
2011 Wentworth Village Dr     
Bellbrook, OH 45305-2741  791  5.36% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Judy C Smith     
57 Mill St     
East Haven, CT 06512-1015  1,616  10.96% 
 
Putnam Fiduciary Trust Co     
TTEE FBO James Schall     
9396 Jonathan Rd     
Woodbury, MN 55125-4820  1,401  9.51% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Judy A Schall     
9396 Jonathan Rd     
Woodbury, MN 55125-4820  1,401  9.51% 
 
Class M     
Putnam Fiduciary Trust Co     
CUST FBO Carbondale Elem Sch Dist No 95     
403(B) Plan     
A/C Margaret L Mayberry     
7843 Giant City Rd     
PO Box 2941     
Carbondale, IL 62902-2941  1,220  8.92% 
 
Putnam Fiduciary Trust Co     
CUST FBO California State University 403(B) Plan   
A/C Gaylen R Carlson     
818 Sharon Cir     
Placentia, CA 92870-4232  1,018  7.45% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Beverly R Mracek     
4530 S Aspen Ln     
Kingman, AZ 86401-8685  2,409  17.63% 

Shareholder Name and Address  Holdings  Percentage Owned 
Class M cont.     
Putnam Fiduciary Trust Co     
TTEE FBO Rosemarie Farber     
PO Box 8452     
Huntington Beach, CA 92615-8452  1,411  10.33% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Shawn M Burgess     
2425 W Horsetail Trail     
Phoenix, AZ 85085-7008  971  7.10% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Pamela K Shinogle     
PO Box 118     
Kaw City, OK 74641-0118  685  5.01% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  20,364  36.20% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,135  5.57% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,194  5.68% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,543  8.08% 
 
Class Y     
AZ Materials Inc. 401(k) Plan***  34,973  8.73% 
 
D R Horton Inc. Profit Sharing Plan***  151,902  37.93% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  71,689  17.90% 
 
Mechanical Union Savings Trust     
401(k) Plan***  45,680  11.41% 
 
Putnam Investments Profit Sharing Plan*  66,601  16.63% 
 
Putnam RetirementReady 2020 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  253,677  10.18% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  200,844  8.06% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  178,376  7.16% 
 
Class B     
Putnam Fiduciary Trust Co     
CUST FBO Johnson City School District     
403(B) Plan     
A/C Cathy M Botts     
109 Chestnut Ridge Dr     
Jonesborough, TN 37659-7457  3,473  6.90% 
 
Putnam Fiduciary Trust Co     
CUST FBO Connetquot School Of Islip     
403(B) Plan     
A/C Jane E Murphy     
12 Franklin Rd     
Oakdale, NY 11769-2223  2,556  5.08% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Patricia A Eaton     
14 Woods Lane     
Lancaster, MA 01523-3246  3,286  6.53% 

T-23 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam RetirementReady 2020 Fund cont.   
 
Class C     
First Clearing LLC     
Jon A Strum     
4064 45th St     
Des Moines, IA 50310-2820  7,268  27.91% 
 
Putnam Fiduciary Trust Co     
CUST FBO Mason Consolidated Schools     
403(B) Plan A/C     
Jayne E Herman     
6508 Black Diamond Lane     
Lambertville, MI 48144-9584  3,761  14.44% 
 
Putnam Fiduciary Trust Co     
CUST FBO Reynoldsburg City School Dist     
403(B) Plan     
A/C Linda I Young     
7675 Godfrey Circle     
Reynoldsburg, OH 43068-8110  1,369  5.26% 
 
Putnam Fiduciary Trust Co     
TTEE FBO George A Ozuna     
405 Happy Trail     
Shavano Park, TX 78231-1440  2,201  8.45% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Mark E Hall     
5121 N Bank Rd     
Crescent City, CA 95531-9580  1,865  7.16% 
 
Class M     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  1,512  9.55% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,047  6.61% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Barbara M Toth     
2151 Chinook Dr     
Kingman, AZ 86401-6509  3,096  19.55% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Mary Ann Sedich     
2115 Robinson Ave     
Kingman, AZ 86401-4749  1,223  7.73% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Jean M Reeves     
PO Box 215     
Chloride, AZ 86431-0215  1,210  7.64% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Jay F Ehlers     
910 San Eduardo Ave     
Henderson, NV 89002-8900  1,138  7.19% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,813  8.48% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,873  5.64% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,880  5.67% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  5,379  16.21% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,427  7.31% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,664  5.01% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class R cont.     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,680  8.08% 
 
Class Y     
AZ Materials Inc. 401(k) Plan***  75,344  13.09% 
 
D R Horton Inc. Profit Sharing Plan***  235,229  40.88% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  79,760  13.86% 
 
Mechanical Union Savings Trust     
401(k) Plan***  54,271  9.43% 
 
Putnam Investment Profit Sharing Plan*  106,004  18.42% 
 
Putnam RetirementReady 2025 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  350,980  15.48% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  182,464  8.05% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  175,089  7.72% 
 
Class B     
Putnam Fiduciary Trust Co     
CUST FBO Memorial Medical Center (Il)     
403(B) Plan     
A/C Kathy S Lee     
2500 E Lake Shore Dr     
Springfield, IL 62712-5500  4,713  8.21% 
 
Putnam Fiduciary Trust Co     
CUST FBO Independent School District 834     
403(B) Plan     
A/C Sue Gilsdorf     
1957 Manning Trail N     
Lake Elmo, MN 55042-9625  4,652  8.11% 
 
Tsu Tiao Lee & Ching Tai Lee     
3 Spruce Lane     
East Meadow, NY 11554-2711  2,946  5.13% 
 
Class C     
Putnam Fiduciary Trust Co     
CUST FBO United Jewish Community Br     
403(B) Plan     
A/C Suzanne Andisman     
2471 NE 199th St     
Miami, FL 33180-1829  1,564  11.41% 
 
Putnam Fiduciary Trust Co     
CUST FBO Beavercreek City Schools     
403(B) Plan     
A/C Mary K Hunsaker     
1837 Andrea Circle     
Beavercreek, OH 45432-2368  698  5.09% 
Putnam Fiduciary Trust Co     
TTEE FBO George A Ozuna     
405 Happy Trail     
Shavano Park, TX 78231-1440  2,188  15.96% 
 
Putnam Fiduciary Trust Co     
TTEE FBO H Felde Tool & Machine Co     
Simple Ira Plan     
A/C Darren W Burton     
5517 N James Rd     
Peoria, IL 61615-3410  1,422  10.38% 

T-24 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam RetirementReady 2025 Fund cont.   
 
Class C cont.     
Putnam Fiduciary Trust Co     
TTEE FBO H Felde Tool And Machine Co     
Simple Ira Plan     
A/C Edgar L Soler     
6006 N Western Ave     
Peoria, IL 61614-4046  1,037  7.56% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Rosenman Dental Simple Ira Plan     
A/C Judith M Vivian     
1075 Balsam Way     
Blue Bell, PA 19422-1577  906  6.61% 
 
Putnam Fiduciary Trust Co     
TTEE FBO NCPDC LCC Simple Ira Plan     
A/C Janet M Fardella     
131 Nottingham Dr     
Northumberland, PA 17857-8846  702  5.12% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Debra F Parsons     
19 Webster Ave     
Wheeling, WV 26003-5358  687  5.01% 
 
Class M     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  425  7.10% 
 
Putnam Fiduciary Trust Co     
CUST FBO California State University     
403(B) Plan     
A/C Mark M Thompson     
1205 Riverside Dr     
Fullerton, CA 92831-3321  930  15.56% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Susan M Stalhut     
3089 W Carmichael Rd     
Golden Valley, AZ 86413-8816  1,168  19.54% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Gary L Riggenbach     
815 E Berk Ave     
Kingman, AZ 86409-3910  443  7.40% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Bonnie L Jones     
4621 E Edgemont Ave     
Phoenix, AZ 85008-1509  382  6.40% 
 
Robyn S Allen     
Cust For Tobias L Allen     
U/AZ UNIF Transfer To M/A     
3815 N Melody St     
Kingman, AZ 86409-3304  921  15.40% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  7,241  10.06% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,799  6.67% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  11,750  16.33% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  5,894  8.19% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  5,760  8.00% 

Shareholder Name and Address  Holdings  Percentage Owned 
Class Y     
AZ Materials Inc. 401(k) Plan***  48,670  6.26% 
 
D R Horton Inc. Profit Sharing Plan***  279,872  36.00% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  129,588  16.67% 
 
Mechanical Union Savings Trust     
401(k) Plan***  57,248  7.36% 
 
Putnam Investments Profit Sharing Plan*  243,381  31.30% 
 
Putnam RetirementReady 2030 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  231,253  11.51% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  155,749  7.75% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  141,942  7.06% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  121,426  6.04% 
 
Class B     
Putnam Fiduciary Trust Co     
TTEE FBO John F Keating     
7330 Darien Lane     
Darien, IL 60561-4108  3,177  6.46% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Michael R Flaherty     
6103 Gulick Rd     
Naples, NY 14512-9297  2,586  5.26% 
 
Class C     
Amber L Hines & Matthew B Hines     
RR 2 Box 425     
Triadelphia, WV 26059  1,688  17.04% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,214  12.25% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Rosenman Dental Simple Ira Plan     
A/C Peter Rosenman     
328 Greenbank Rd     
Bryn Mawr, PA 19010-1619  2,449  24.71% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Paula A Miller     
574 Tucson St     
Aurora, CO 80011-8445  1,102  11.12% 
 
Class M     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  44,269  94.51% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,308  9.87% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,698  8.47% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,292  5.25% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,255  5.17% 

T-25 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam RetirementReady 2030 Fund cont.   
 
Class R cont.     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,478  5.68% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,180  5.00% 
 
Class Y     
AZ Materials Inc. 401(k) Plan***  58,487  8.35% 
 
D R Horton Inc. Profit Sharing Plan***  297,947  42.51% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  90,721  12.95% 
 
Mechanical Union Savings Trust     
401(k) Plan***  61,741  8.81% 
 
Putnam Investment Profit Sharing Plan*  170,393  24.31% 
 
Putnam RetirementReady 2035 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  159,292  10.76% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  139,841  9.44% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  83,699  5.65% 
 
Class B     
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  3,049  9.69% 
 
Putnam Fiduciary Trust Co     
TTEE FBO USD LLC Simple Ira Plan     
A/C Lee D Guzik     
629 W Addison St # 2     
Chicago, IL 60613-4413  1,635  5.20% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Karl Lukaszewicz     
3626 NW 24th Circle     
Camas, WA 98607-8895  1,602  5.09% 
 
Putnam Fiduciary Trust Co     
TTEE FBO USD LLC Simple Ira Plan     
A/C Armando Ortiz     
311 Greenbrier Lane     
Vernon Hills, IL 60061-2709  1,600  5.09% 
 
Class C     
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  1,156  11.99% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  831  8.62% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  488  5.07% 
 
Putnam Fiduciary Trust Co     
CUST FBO San Diego Unified School Dist     
403(B) Plan     
A/C Christine Madrid     
4714 Pescadero Ave     
San Diego, CA 92107-3541  1,091  11.32% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class C cont.     
Putnam Fiduciary Trust Co     
CUST FBO St Louis Park School District     
403(B) Plan     
A/C Barbara A Motzko Nelson     
6657 Merrimac Lane     
N Maple Grove, MN 55311-3805  490  5.08% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Laura L Weber     
118 Atglen St     
Lyndora, PA 16045-1502  1,152  11.95% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Scott H Sunbury     
326 Russet Lane     
Southington, CT 06489-1774  597  6.19% 
 
Class M     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  2,877  64.60% 
 
Otto G Eachus     
Cust For T Cameron Eachus     
U/NM UNIF Transfer To M/A     
805 Mason Dr     
Roswell, NM 88201-1138  314  7.06% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Monica G Alpert     
274 Dale Dr     
Short Hills, NJ 07078-1513  597  13.41% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Matthew S Ash     
10113 E Avondale Cir     
Ypsilanti, MI 48198-3298  268  6.01% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  8,234  17.47% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  8,414  17.85% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,793  8.05% 
 
Class Y     
D R Horton Inc. Profit Sharing Plan***  322,840  50.50% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  85,325  13.35% 
 
Putnam Investments Profit Sharing Plan*  170,119  26.61% 
 
Putnam RetirementReady 2040 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  135,552  13.65% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  99,463  10.02% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  73,784  7.43% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  63,696  6.41% 

T-26 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam RetirementReady 2040 Fund cont.   
 
Class B     
Putnam Fiduciary Trust Co     
CUST FBO Sutter County Sup Of Schs Office   
403(B) Plan     
A/C Mary A Morgan     
1436 Coughlin Ct     
Yuba City, CA 95993-8705  2,190  12.54% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Eddie Solis     
3406 Burlington Woods Ct     
Lutz, FL 33559-3201  1,784  10.21% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Joshua D Best     
4056 E Stein Rd     
La Salle, MI 48145-9683  1,458  8.35% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Mark J Funk     
36022 Rimcrest Rd     
Freeport, MN 56331-9769  1,385  7.93% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Richard C Batchelder     
2624 Chippewa St     
New Orleans, LA 70130-5428  1,091  6.25% 
 
Class C     
Putnam Fiduciary Trust Co     
TTEE FBO Diabetes Management & Supplies   
Simple Ira Plan     
A/C Terry K Miller     
2213 Haring Rd     
Metairie, LA 70001-1003  506  19.03% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Melissa S Glessner     
PO Box 205     
Valley Grove, WV 26060-0205  464  17.43% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Rosenman Dental Simple Ira Plan     
A/C Jordon Arena     
418 Dartmoor Rd     
Schwenksville, PA 19473-1865  348  13.08% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Sammy J Fee Jr     
3337 Clubside Dr     
Norton, OH 44203-5168  279  10.47% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Tamara A Arrowsmith     
486 Brendon Dr     
Leola, PA 17540-9535  215  8.06% 
 
Class M     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  821  80.11% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Logan E Tillmon     
6089 Bridgewood Way     
Las Vegas, NV 89110-2718  198  19.32% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,848  7.14% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,447  8.65% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  7,043  17.67% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class R cont.     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,518  11.33% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,035  7.61% 
 
Class Y     
D R Horton Inc. Profit Sharing Plan***  249,523  57.02% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  40,047  9.15% 
 
Putnam Investments Profit Sharing Plan*  116,046  26.52% 
 
Putnam RetirementReady 2045 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  110,664  14.62% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  77,252  10.20% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  44,775  5.91% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  43,443  5.74% 
Class B     
American Enterprise Investment Services     
PO Box 9446     
Minneapolis, MN 55474-0001  1,012  9.07% 
 
NFS LLC     
FBO Citizens Bank Ira Rollover     
FBO Solomon M Phung     
2788 Iron Way     
Doylestown, PA 18902-1852  1,009  9.05% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Carmen R Grair     
7770 Via Rosa Maria     
Burbank, CA 91504-1444  1,012  9.08% 
 
Putnam Fiduciary Trust Co     
TTEE FBO George Grair     
7770 Via Rosa Maria     
Burbank, CA 91504-1444  995  8.92% 
 
Putnam Fiduciary Trust Co.     
TTEE FBO Sarah N Rich     
4619 Sunflower Rd Apt 50     
Knoxville, TN 37909-1431  1,459  13.09% 
 
Raymond James & Assoc Inc CSDN FBO     
Ramona Miller     
23620 Meridian Pl     
W Bothell, WA 98021-8759  1,231  11.04% 
 
Class C     
Amy J Skudlarek     
3421 Lee’s Circle Drive     
Garfield, MN 56332  75  7.98% 
 
Putnam Fiduciary Trust Co     
CUST FBO Minooka Community Csd #201     
403(B) Plan     
A/C Jeana Pekol     
2928 Avalon Ave     
Joliet, IL 60435-5138  87  9.20% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Eric Rempe     
1655 Taft St     
Lemon Grove, CA 91945-4053  499  52.94% 

T-27 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam RetirementReady 2045 Fund cont.   
 
Class C cont.     
Putnam Fiduciary Trust Co     
TTEE FBO Julie F Wilson     
35 E Lamar Rd     
Phoenix, AZ 85012-1023  145  15.37% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Keith C Bremer     
2748 S 112th St     
West Allis, WI 53227-3023  48  5.12% 
 
Class M     
Jeremy Kravet TTEE Grayling Associates     
401(K) Plan     
FBO Darius C Goss     
25 Owen St Apt 104     
Hartford, CT 06105-4523  83  22.59% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Renee T Rieger     
3004 N Harrison St     
Wilmington, DE 19802-2936  231  62.59% 
 
Putnam LLC     
One Post Office Square     
Boston, MA 02109  55  14.81% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,911  11.50% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,226  12.75% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,235  8.83% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,851  7.31% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,342  5.30% 
 
Class Y     
D R Horton Inc. Profit Sharing Plan***  134,778  46.96% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  50,219  17.50% 
 
Putnam Investments Profit Sharing Plan*  85,795  29.89% 
 
Putnam RetirementReady 2050 Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  50,684  12.00% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  29,895  7.08% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  29,390  6.96% 
 
Class B     
Elizabeth B O’Connor     
TTEE O’Connor Irish Corner Rev Living Trust     
U/A DTD 04/02/1993     
FBO Elizabeth B O’Connor     
323 Roanoke Blvd     
Salem, VA 24153-5009  1,461  13.42% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Kevin R Hahn     
6221 S Ingalls St     
Littleton, CO 80123-3816  1,992  18.31% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class B cont.     
Putnam Fiduciary Trust Co     
TTEE FBO Timothy D Meyer     
2401 Aspen Lane SW     
Rochester, MN 55902-0847  896  8.23% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Stephen J Hoffman     
1659 Woodgate Dr     
Troy, MI 48083-5551  716  6.58% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Jia Tzong Kou     
1730 Fern Hollow Dr     
Diamond Bar, CA 91765-2727  576  5.29% 
 
Class C     
Putnam Fiduciary Trust Co     
CUST FBO San Diego Unified School Dist     
403(B) Plan     
A/C Tamiko Stratton     
858 3rd Ave Pmb # 197     
Chula Vista, CA 91911-1305  421  11.64% 
 
Putnam Fiduciary Trust Co     
CUST FBO San Diego Unified School Dist     
403(B) Plan     
A/C Jennifer Deaton     
1977 Oliver Ave     
San Diego, CA 92109-5512  409  11.31% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Deborah Nevin     
3409 Malito Dr     
Bonita, CA 91902-1219  884  24.42% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Ian Sacco     
3747 Keating St Unit 5     
San Diego, CA 92110-1930  540  14.92% 
 
Putnam Fiduciary Trust Co     
TTEE FBO The Red Group Simple Ira Plan     
A/C Lisa M Diomede     
712 Prairie Ave     
Glen Ellyn, IL 60137-3847  213  5.88% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Georgia Phares     
6385 Ebb Tide Way     
Carlsbad, CA 92011-1261  194  5.37% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Luz Maciel     
4254 Campus Ave     
San Diego, CA 92103-2545  188  5.20% 
 
Class M     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  3,232  95.01% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,649  8.22% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,403  11.98% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,145  5.71% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,669  13.30% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,133  5.65% 

T-28 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam RetirementReady 2050 Fund cont.   
 
Class R cont.     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,047  5.22% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,035  5.16% 
 
Class Y     
D R Horton Inc. Profit Sharing Plan***  44,419  28.29% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  35,816  22.81% 
 
Putnam Investments Profit Sharing Plan*  61,222  38.99% 
 
Putnam RetirementReady Maturity Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  72,097  10.30% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  70,207  10.03% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  48,359  6.91% 
 
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  44,574  6.37% 
 
Class B     
Danielle Lee Burgess     
6805 Amber Ridge Dr     
Anderson, CA 96007-8535  157  5.55% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Mabel R Adams     
2012 N 24th St     
Boise, ID 83702-0205  1,024  36.12% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Donna E Mansell     
4907 Cassia St     
Boise, ID 83705-1907  668  23.56% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Robert T Entwistle     
433 S Whisperwood Way     
Boise, ID 83709-7059  398  14.03% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Commonwealth Title-Monmouth     
Agcy Profit Sharing Plan     
A/C Jean Marino     
41 Sutton Dr     
Manalapan, NJ 07726-8717  336  11.84% 
 
Class C     
Ann Dobroth     
PO Box 368     
Grover Beach, CA 93483-0368  1,500  17.66% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Jan H Richards     
1100 De Bremond Dr     
Roswell, NM 88201-1110  3,000  35.32% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Gayle V Humphrey     
177 Racetrack Rd     
Silver City, NM 88022-9713  1,827  21.51% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Herman L Zeller     
1941 Pamela St     
Oxnard, CA 93036-2799  878  10.34% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class C cont.     
Putnam Fiduciary Trust Co     
TTEE FBO Karla J Stein     
1026 Atkins St     
Porterville, CA 93257-1402  549  6.47% 
 
Class M     
Gene F Friel     
3094 Ridge Rd     
South Park, PA 15129-9334  10,415  38.17% 
 
John J Mcclary     
205 E 26th St     
Yuma, AZ 85364-7333  1,660  6.08% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Lawrence B De Graaf     
1139 Naples Ave     
Placentia, CA 92870-4114  2,303  8.44% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Barbara M Toth     
2151 Chinook Dr     
Kingman, AZ 86401-6509  1,882  6.90% 
 
Putnam Fiduciary Trust Co     
TTEE FBO Terry A Stewart     
215 Ridge Rock Rd     
Sedona, AZ 86351-6320  1,465  5.37% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  4,208  46.08% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,669  29.22% 
 
Class Y     
D R Horton Inc. Profit Sharing Plan***  54,979  24.53% 
 
Genlyte Thomas Group Retirement Savings     
and Investment Plan***  62,547  27.90% 
 
Mechanical Union Savings Trust     
401(k) Plan***  61,475  27.42% 
 
Putnam Investments Profit Sharing Plan*  28,182  12.57% 
 
Putnam Small Cap Growth Fund     
 
Class A     
Mercer Trust Company     
1 Investors Way     
Norwood, MA 02062-1599  529,669  5.70% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  28,491  5.20% 
 
Class M     
RBC Capital Markets Corp     
FBO Esther Gasser     
600 Coronet Rd     
Glenview, IL 60025-4456  6,000  6.06% 
 
Class R     
GPC Securities Inc Paragon Health Services, Inc.   
Plan Reliance Trust Co     
PO Box 79377     
Atlanta, GA 30357-7377  33,187  7.63% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  55,942  12.86% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  31,315  7.20% 

T-29 

Shareholder Name and Address  Holdings  Percentage Owned 
Putnam Small Cap Growth Fund cont.     
 
Class Y     
AZ Materials Inc. 401(k) Plan***  75,927  12.45% 
 
Putnam Investments Profit Sharing Plan*  376,984  61.84% 
 
Putnam Small Cap Value Fund     
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  133,751  8.56% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  13,068  6.25% 
 
Class R     
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  1,712  7.81% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  3,299  15.05% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,896  13.21% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  2,071  9.45% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  6,040  27.55% 
 
Class Y     
Building Service Local 32B-J Supplemental   
Retirement Savings Plan***  903,002  35.61% 
 
Putnam Investments Profit Sharing Plan*  1,301,981  51.35% 
 
Putnam Tax Exempt Income Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  20,308,503  15.22% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  7,053,644  5.28% 
 
Class B     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  148,908  6.51% 
 
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  139,757  6.11% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  122,012  5.33% 
 
Class C     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  170,370  6.41% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  341,125  12.83% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  70,396  10.52% 
 
First Clearing LLC     
A/C Jeffrey Morgan     
PO Box 287     
Rowayton, CT 06853-0287  58,736  8.78% 
 
First Clearing, LLC     
A/C Pedro F Sanchez & Odalys Sanchez     
15091 SW 20th St     
Davie, FL 33326-2027  42,614  6.37% 
 
NFS LLC     
FBO Jesus A Sanchez, Maria C Sevilla     
7575 SW 60th St     
Miami, FL 33143-1707  46,272  6.91% 
 
Pershing LLC     
PO Box 2052     
Jersey City, NJ 07303-2052  39,396  5.89% 
 
Class Y     
Citigroup Global Markets Inc     
333 W 34th St     
New York, NY 10001-2402  111,220  41.23% 
 
Jack Lehman     
TTEE Lehman Family Trust     
U/D/T 07/03/1973     
2265 Geronimo Way     
Las Vegas, NV 89169-3361  61,731  22.88% 
 
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  86,443  32.04% 
 
Putnam Tax-Free High Yield Fund     
 
Class A     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  9,301,842  11.96% 
 
Class B     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  285,332  8.68% 
 
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  242,069  7.37% 
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  280,242  14.50% 
 
Class M     
Edward D Jones & Co     
201 Progress Pkwy     
Maryland Heights, MO 63043-3009  135,855  18.22% 
Stephen M Schwartz & Valerie B Schwartz     
5922 New England Woods Dr     
Burke, VA 22015-2910  44,610  5.98% 
Class Y     
First Clearing LLC     
A/C John S Moffett & Suzanne Moffett     
299 Old Mountain Rd     
Farmington, CT 06032-1618  6,667  5.21% 
 
First Clearing, LLC     
A/C Richard and Irene Simone Trust     
Richard Simone TTEE     
38 Glenn Dr     
Southington, CT 06489-4005  7,729  6.04% 

T-30 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam Tax-Free High Yield Fund cont.     
 
Class Y cont.     
LPL Financial     
PO Box 509046     
San Diego, CA 92150-9046  16,995  13.27% 
 
NBC Securities Inc     
FBO Pamela M Jeffries     
1927 1st Ave N     
Birmingham, AL 35203-4024  26,897  21.00% 
 
NFS LLC     
FBO Ann Bell Olliff, Eleanor A Shult     
2910 Allie Payne Rd     
Orange, TX 77632-7011  7,808  6.10% 
 
Putnam U.S. Government Income Trust     
 
Class C     
MLPF&S     
4800 Deer Lake Dr E Fl3     
Jacksonville, FL 32246-6484  286,586  9.40% 
 
Class M     
MitsubishI UFJ Securities Co Ltd     
Marunouchi Building 2-4-1 Marunouchi     
Chiyoda-Ku     
Tokyo 100-6317     
Japan 104  1,363,760  70.06% 
 
Class R     
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  26,522  10.45% 
 
MG Trust Co     
700 17th St Ste 300     
Denver, CO 80202-3531  26,730  10.53% 
  
Class Y     
Putnam Investments*  171,147  19.01% 
 
Putnam Investments Profit Sharing Plan*  386,570  42.93% 
 
Putnam Vista Fund     
 
Class R     
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  34,002  12.27% 
 
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  23,541  8.50% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  21,831  7.88% 
 
Reliance Trust Company American Dawn     
Inc 401k     
PO Box 48529     
Atlanta, GA 30362-1529  32,668  11.79% 
 
Class Y     
Arch Coal, Inc. Employee Thrift Plan***  611,042  8.91% 
 
D R Horton Inc. Profit Sharing Plan***  1,245,656  18.17% 
 
First Hawaiian Future Plan***  2,080,987  30.36% 
 
Putnam Investments Profit Sharing Plan*  1,827,319  26.66% 

 
Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam Voyager Fund     
 
Class R     
Capital Bank & Trust Co     
8515 E. Orchard Rd # 2T2     
Greenwood Village, CO 80111-5002  37,503  30.02% 
 
Counsel Trust DBA MATC     
Bigos Management Inc 401k PSP     
1251 Waterfront Pl Ste 525     
Pittsburgh, PA 15222-4228  7,370  5.90% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  9,615  7.70% 
 
Class Y     
Morbark Employees 401K Savings Plan**  345,817  5.07% 
NFS LLC     
FBO Huntington National Bank     
7 Easton Oval # EA4E70     
Columbus, OH 43219-6010  708,598  10.38% 
 
Ohio Tuition Trust Authority/College     
Advantage Program+  1,626,792  23.83% 
 
Putnam Investments Profit Sharing Plan*  968,954  14.19% 
 
Putnam VT American Government Income Fund   
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  7,781,108  100.00% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  3,589,260  73.34% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  276,258  5.64% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  1,023,890  20.92% 
 
Putnam VT Capital Opportunities Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  480,542  49.08% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  492,675  50.32% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  355,042  29.86% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  685,554  57.66% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  115,850  9.74% 


T-31

Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam VT Diversified Income Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  21,655,812  99.03% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  6,137,776  15.75% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  31,122,089  79.86% 
 
Putnam VT Equity Income Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  4,523,310  26.19% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  12,464,953  72.16% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  9,134,355  50.55% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  1,176,423  6.51% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  3,764,963  20.84% 
 
Metlife Investors     
501 Boylston St     
Boston, MA 02116-3769  2,379,824  13.17% 
 
Putnam VT The George Putnam Fund of Boston   
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  15,871,470  98.84% 
  
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  12,801,869  67.98% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  1,059,816  5.63% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  4,797,304  25.47% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam VT Global Asset Allocation Fund   
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  12,088,315  98.17% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  2,449,446  44.57% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  394,289  7.17% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  2,652,584  48.26% 
 
Putnam VT Global Equity Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  23,147,000  99.72% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  2,694,414  77.13% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  255,289  7.31% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  382,443  10.95% 
 
Putnam VT Global Health Care Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  4,771,447  100.00% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  3,133,211  42.28% 
 
Lincoln National Variable Universal Life DB   
1300 S Clinton St     
Fort Wayne, IN 46802-3506  526,695  7.11% 
 
Riversource Life Insurance Company     
70100 Ameriprise Financial Ctr     
Minneapolis, MN 55474-0701  2,679,348  36.15% 
 
Putnam VT Global Utilities Fund     
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  12,305,834  99.99% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  1,836,915  78.64% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  200,027  8.56% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  298,831  12.79% 

T-32 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam VT Growth and Income Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  86,792,648  98.23% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  14,173,730  63.72% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  1,212,488  5.45% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  3,502,282  15.74% 
 
Putnam VT Growth Opportunities Fund   
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  2,553,092  100.00% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  2,480,133  70.91% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  212,163  6.07% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  638,735  18.26% 
 
Putnam VT High Yield Fund     
 
Class IA     
Cuna Mutual Insurance Society     
2000 Heritage Way     
Waverly, IA 50677-9208  14,200,140  29.20% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  33,362,228  68.60% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  9,758,958  52.10% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  1,201,088  6.41% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  4,678,508  24.98% 
 
Riversource Life Insurance Company     
70100 Ameriprise Financial Ctr     
Minneapolis, MN 55474-0701  1,905,397  10.17% 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam VT Income Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  22,567,876  96.33% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  11,950,524  69.49% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  1,510,839  8.79% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  3,702,683  21.53% 
 
Putnam VT International Equity Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  15,736,557  94.87% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  11,288,242  26.43% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  3,201,675  7.50% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  19,091,148  44.70% 
 
Riversource Life Insurance Company     
70100 Ameriprise Financial Ctr     
Minneapolis, MN 55474-0701  3,903,775  9.14% 
 
Putnam VT International Growth and Income Fund   
 
Class IA     
Am Gen Signature II A     
2727 Allen Pkwy Ste A     
Houston, TX 77019-2116  1,292,801  8.73% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  13,371,163  90.27% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  3,348,187  46.94% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  1,658,658  23.25% 
 
Lincoln Benefit Life Co     
C/O Allstate Financial     
544 Lakeview Pkwy     
Vernon Hills, IL 60061-1826  608,234  8.53% 
 
Lincoln Benefit Life Co     
C/O Allstate Financial     
544 Lakeview Pkwy     
Vernon Hills, IL 60061-1826  515,761  7.23% 

T-33 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam VT International New Opportunities Fund   
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  3,869,098  99.86% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  1,482,211  77.96% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  96,724  5.09% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  247,596  13.02% 
 
Putnam VT Investors Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  11,180,141  99.99% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  8,617,825  37.77% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  13,375,891  58.62% 
 
Putnam VT Mid Cap Value Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  1,427,385  55.54% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  1,141,122  44.40% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  827,268  59.53% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  329,524  23.71% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  177,352  12.76% 
 
Putnam VT Money Market Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  212,213,429  98.00% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  138,927,178  73.92% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  19,460,060  10.35% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  22,544,019  12.00% 

 
Shareholder Name and Address  Holdings  Percentage Owned 
Putnam VT New Opportunities Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  19,282,064  62.35% 
 
Riversource Life Insurance Company     
70100 Ameriprise Financial Ctr     
Minneapolis, MN 55474-0701  10,390,181  33.60% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  3,646,152  74.17% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  334,350  6.80% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  849,169  17.27% 
 
Putnam VT Research Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  2,804,459  100.00% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  3,660,519  80.54% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  255,901  5.63% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  591,283  13.01% 
 
Putnam VT Small Cap Value Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  6,407,388  100.00% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  3,668,089  18.51% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  13,655,667  68.91% 
 
Northbrook Life Insurance Co     
3100 Sanders Rd Ste K4A     
Northbrook, IL 60062-7156  1,784,954  9.01% 
 
Putnam VT Vista Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  7,506,018  95.83% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  4,423,445  42.10% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  1,010,734  9.62% 

T-34 

Shareholder Name and Address  Holdings  Percentage Owned 
 
Putnam VT Vista Fund cont.     
 
Class IB cont.     
Horace Mann Life Insurance Co     
1 Horace Mann Plaza     
Springfield, IL 62715-0002  527,918  5.02% 
 
Riversource Life Insurance Company     
70100 Ameriprise Financial Ctr     
Minneapolis, MN 55474-0701  3,564,388  33.92% 
 
Putnam VT Voyager Fund     
 
Class IA     
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  25,423,790  98.68% 
 
Class IB     
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  4,912,954  61.99% 
 
Allstate Life Insurance Co     
3100 Sanders Rd     
Northbrook, IL 60062-7154  424,122  5.35% 
 
Hartford Life Insurance Co     
1 Griffin Rd N     
Windsor, CT 06095-1512  1,202,663  15.17% 
 
Principal Financial Group PFLX     
711 High St     
Des Moines, IA 50392-0001  627,090  7.91% 

* The address for the name listed is: c/o Orchard Trust Company, LLC, as trustee or agent, 8515 E. Orchard Road, Greenwood Village, CO 80111.

** The address for the name listed is: c/o Putnam Fiduciary Trust Company, as trustee or agent, One Post Office Square, Boston, MA 02109.

*** The address for the name listed is: c/o Mercer Trust Company, as trustee or agent, Investors Way, Norwood, MA 02062.

**** The address for the name listed is: c/o Putnam Investments, One Post Office Square, Boston, MA 02109.

+ The address for the name listed is: c/o Putnam Fiduciary Trust Company, as service provider, One Post Office Square, Boston, MA 02109.

T-35 




This page left blank intentionally. 




T-36 




This page left blank intentionally. 




T-37 





This page left blank intentionally. 




T-38 




This page left blank intentionally. 




T-39 





By signing below, you, as a Putnam fund shareholder, appoint Trustees John A. Hill and Robert E. Patterson to be your proxies. This appointment applies to each of them separately and enables them to appoint substitutes as needed. You are empowering them to vote all your shares on your behalf at the meeting of the shareholders of the Putnam Funds to be held on November 19, 2009, at 11:00 a.m., Boston time. This authority extends to any adjournments of the meeting. Your proxy is being solicited on behalf of the Trustees. When you complete and sign the proxy card, your shares will be voted on your behalf exactly as you have indicated on the reverse side of this card. If you simply sign the proxy card, or do not vote on a specific proposal, your shares will automatically be voted as the Trustees recommend. The proxies are also authorized to vote at their discretion on any other matter that arises at the meeting or any adjournments of the meeting.

Three ways to vote:

   Vote online: proxyweb.com/Putnam
There is no need for you to return your proxy card.

  Vote by phone: 1-888-221-0697
There is no need for you to return your proxy card.

  Vote by mail: Check the appropriate boxes
on the reverse side. Sign and date the proxy card.
Return the proxy card in the envelope provided.

Consolidated Proxy Card

For convenience, if you wish to vote in the same way for all of your funds subject to each proposal, please use the form on the reverse side.

SIGN AND DATE BELOW ONLY IF YOU ARE VOTING IN THE SAME WAY FOR ALL OF YOUR FUNDS ON EACH PROPOSAL.

Note: If you elect to vote using this Consolidated Proxy Card, do not return the Individual Proxy Cards below. 

Sign your name exactly as it appears on this card. If you own shares jointly, each owner should sign. When signing as executor, administrator, attorney, trustee, or guardian, or as custodian for a minor, please give your full title as such. If you are signing for a corporation, please sign the full corporate name and indicate the signer’s office. If you are a partner, sign in the partnership name.


Important notice regarding the availability of proxy materials for the shareholder meeting to be held on November 19, 2009. 
The proxy statement for this meeting is available at https://www.proxyweb.com/Putnam.


By signing below, you, as a Putnam fund shareholder, appoint Trustees John A. Hill and Robert E. Patterson to be your proxies. This appointment applies to each of them separately and enables them to appoint substitutes as needed. You are empowering them to vote all your shares on your behalf at the meeting of the shareholders of the Putnam Funds to be held on November 19, 2009, at 11:00 a.m., Boston time. This authority extends to any adjournments of the meeting. Your proxy is being solicited on behalf of the Trustees. When you complete and sign the proxy card, your shares will be voted on your behalf exactly as you have indicated on the reverse side of this card. If you simply sign the proxy card, or do not vote on a specific proposal, your shares will automatically be voted as the Trustees recommend. The proxies are also authorized to vote at their discretion on any other matter that arises at the meeting or any adjournments of the meeting.

Three ways to vote:

 Vote online: proxyweb.com/Putnam
There is no need for you to return your proxy card.

 Vote by phone: 1-888-221-0697
There is no need for you to return your proxy card.

  Vote by mail: Check the appropriate boxes
on the reverse side. Sign and date the proxy card.
Return the proxy card in the envelope provided.

Individual Proxy Cards

If you wish to vote separately for each of your funds subject to each proposal, please use the forms on the reverse side (and on accompanying pages, if necessary). A separate form applies to each of your funds.

SIGN AND DATE BELOW ONLY IF YOU ARE VOTING SEPARATELY FOR EACH OF YOUR FUNDS ON EACH PROPOSAL.


Note: If you elect to vote using the Individual Proxy Cards, do not return the Consolidated Proxy Card above.

  

Sign your name exactly as it appears on this card. If you own shares jointly, each owner should sign. When signing as executor, administrator, attorney, trustee, or guardian, or as custodian for a minor, please give your full title as such. If you are signing for a corporation, please sign the full corporate name and indicate the signer’s office. If you are a partner, sign in the partnership name.



Please sign and date the other side of this card. The pages referenced below indicate where the proposal can be found in the proxy statement.

THE TRUSTEES RECOMMEND A VOTE FOR ALL APPLICABLE PROPOSALS OTHER THAN PROPOSAL 5. If you have any questions, please call 1-866-451-3787. To determine which proposals are applicable to your fund, please see pages 2 to 3 in the proxy statement.

Please fill in box(es) as shown using black or blue ink or number 2 pencil. PLEASE DO NOT USE FINE POINT PENS.

  

Mark here to vote on all proposals as the Trustees recommend. (No other vote is necessary.) □

FOR 
FOR  WITHHOLD  ALL 
1.  Electing Trustees (see p.4) (*To withhold voting for an individual nominee(s), please mark the “FOR ALL EXCEPT” box and cross out the Trustee name(s) below.):  ALL  ALL  EXCEPT* 
01  R. Akhoury  03  C.B. Curtis  05  M.R. Drucker  07  P.L. Joskow  09  K.R. Leibler  11  G. Putnam, III  13  W.T. Stephens  □ □ □
02  J.A. Baxter  04  R.J. Darretta  06  J.A. Hill  08  E.T. Kennan  10  R.E. Patterson  12  R.L. Reynolds  14  R.B. Worley       
Funds subject to Proposal 2: All funds except for funds subject to Proposals 2.A., 2.B. and 2.C. (see below), Putnam RetirementReady Funds and Putnam Money Market  FOR  AGAINST  ABSTAIN 
Liquidity Fund.                               
2.  Approving a proposed new management contract for your fund (see p.12):            □ □ □
Funds subject to Proposals 2.A., 2.B. and 2.C.: Putnam Asia Pacific Equity Fund, Putnam Emerging Markets Equity Fund, Putnam Europe Equity Fund, Putnam Global Equity       
Fund, Putnam Growth Opportunities Fund, Putnam International Capital Opportunities Fund, Putnam International Equity Fund, Putnam International Growth and Income       
Fund, Putnam International New Opportunities Fund, Putnam New Opportunities Fund, Putnam Small Cap Growth Fund, Putnam Vista Fund, Putnam Voyager Fund.       
2.A. Approving a proposed new management contract for your fund: With both Fund Family breakpoints and performance fees (see p.12):  □ □ □
 
2.B. Approving a proposed new management contract for your fund: With Fund Family breakpoints only (see p.12):      □ □ □
 
2.C. Approving a proposed new management contract for your fund: With performance fees only (see p.12):      □ □ □
3.  Approving an amendment to your fund’s fundamental investment restriction (see p.20) with respect to:           
  3.A.  Investments in commodities                    □ □ □
 
  3.B.  Diversification of investments                    □ □ □
 
  3.C.  The acquisition of voting securities                  □ □ □
 
  3.D.  Borrowing                        □ □ □
 
  3.E.  Making loans                      □ □ □
4.  Approving an amendment to your fund’s agreement and declaration of trust (see p.25) with respect to:           
  4.A.  The duration of the trust                      □ □ □
 
  4.B.  Redemption at the option of the trust                  □ □ □
5.  THE TRUSTEES RECOMMEND A VOTE AGAINST PROPOSAL 5.Shareholders request that the Board institute procedures to prevent holding       
  investments in companies that, in the judgment of the Board, substantially contribute to genocide or crimes against humanity, the most  □ □ □
  egregious violations of human rights (see p.26).                       


INDIVIDUAL PROXY CARDS
NOTE: If you elect to vote using the Individual Proxy Cards, do not return the Consolidated Proxy Card above.


PUTNAM INTERNATIONAL NEW OPPORTUNITIES FUND

THE TRUSTEES RECOMMEND A VOTE FOR ALL APPLICABLE PROPOSALS OTHER THAN PROPOSAL 5.

To determine which proposals are applicable to your fund, please see pages 2 to 3 in the proxy statement.

1.  Electing Trustees (*To withhold voting for an individual nominee(s), please  FOR   WITHHOLD  FOR ALL 
  mark the “FOR ALL EXCEPT” box and cross out the Trustee name(s) below.):  ALL  ALL  EXCEPT* 
  01 R. Akhoury   05 M.R. Drucker  09 K.R. Leibler  12  R.L. Reynolds  □ □ □
  02 J.A. Baxter  06 J.A. Hill  10  R.E. Patterson  13  W.T. Stephens       
  03 C.B. Curtis  07 P.L. Joskow  11  G. Putnam, III  14  R.B. Worley       
  04 R.J. Darretta  08 E.T. Kennan          FOR  AGAINST ABSTAIN 
2.  Approving a proposed new management contract for your fund:  □ □ □
2.A.  Approving a proposed new management contract for your fund: With both  □ □ □
  Fund Family breakpoints and performance fees           
2.B.  Approving a proposed new management contract for your fund: With Fund  □ □ □
  Family breakpoints only               
2.C.  Approving a proposed new management contract for your fund: With  □ □ □
  performance fees only               
3.  Approving an amendment to your fund’s fundamental investment restriction       
  with respect to:                 
3.A. Investments in commodities           □ □ □
3.B.  Diversification of investments          □ □ □
3.C.  Acquisition of voting securities          □ □ □
3.D. Borrowing            □ □ □
3.E.  Making loans            □ □ □
4.  Approving an amendment to your fund’s agreement and declaration of trust       
  with respect to:                 
4.A. Duration of the trust              □ □ □
4.B.  Redemption at the option of the trust          □ □ □
5.  Shareholders request that the Board institute procedures to prevent holding  □ □ □
  investments in companies that, in the judgment of the Board, substantially       
  contribute to genocide or crimes against humanity, the most egregious violations       
  of human rights.                 


PUTNAM GLOBAL UTILITIES FUND

THE TRUSTEES RECOMMEND A VOTE FOR ALL APPLICABLE PROPOSALS OTHER THAN PROPOSAL 5.

To determine which proposals are applicable to your fund, please see pages 2 to 3 in the proxy statement.

1.  Electing Trustees (*To withhold voting for an individual nominee(s), please  FOR  WITHHOLD  FOR ALL 
  mark the “FOR ALL EXCEPT” box and cross out the Trustee name(s) below.):  ALL  ALL  EXCEPT* 
  01 R. Akhoury  05 M.R. Drucker  09 K.R. Leibler  12  R.L. Reynolds  □ □ □
  02 J.A. Baxter  06 J.A. Hill  10  R.E. Patterson  13  W.T. Stephens       
  03 C.B. Curtis  07 P.L. Joskow  11  G. Putnam, III  14  R.B. Worley       
  04 R.J. Darretta  08 E.T. Kennan          FOR  AGAINST ABSTAIN 
2.  Approving a proposed new management contract for your fund:  □ □ □
2.A.  Approving a proposed new management contract for your fund: With both  □ □ □
  Fund Family breakpoints and performance fees           
2.B.  Approving a proposed new management contract for your fund: With Fund  □ □ □
  Family breakpoints only               
2.C.  Approving a proposed new management contract for your fund: With  □ □ □
  performance fees only               
3.  Approving an amendment to your fund’s fundamental investment restriction       
  with respect to:                 
3.A. Investments in commodities          □ □ □
3.B.  Diversification of investments          □ □ □
3.C.  Acquisition of voting securities          □ □ □
3.D. Borrowing            □ □ □
3.E.  Making loans            □ □ □
4.  Approving an amendment to your fund’s agreement and declaration of trust       
  with respect to:                 
4.A. Duration of the trust              □ □ □
4.B.  Redemption at the option of the trust          □ □ □
5.  Shareholders request that the Board institute procedures to prevent holding  □ □ □
  investments in companies that, in the judgment of the Board, substantially       
  contribute to genocide or crimes against humanity, the most egregious violations       
  of human rights.                 

Put 09 IND - DH 




(FUND NAME PRINTS HERE)
(FUND NAME PRINTS HERE)

Three ways to vote:

 Vote online: proxyweb.com/Putnam
There is no need for you to return your proxy card.

  Vote by phone: 1-888-221-0697
There is no need for you to return your proxy card.

Vote by mail: Check the appropriate boxes
on the reverse side. Sign and date the proxy card.
Return the proxy card in the envelope provided.

By signing below, you, as a Putnam fund shareholder, appoint Trustees John A. Hill and Robert E. Patterson to be your proxies. This appointment applies to each of them separately and enables them to appoint substitutes as needed. You are empowering them to vote all your shares on your behalf at the meeting of the shareholders of the referenced fund to be held on November 19, 2009, at 11:00 a.m., Boston time. This authority extends to any adjournments of the meeting. Your proxy is being solicited on behalf of the Trustees. When you complete and sign the proxy card, your shares will be voted on your behalf exactly as you have indicated on the reverse side of this card. If you simply sign the proxy card, or do not vote on a specific proposal, your shares will automatically be voted as the Trustees recommend. The proxies are also authorized to vote at their discretion on any other matter that arises at the meeting or any adjournments of the meeting.

 

Sign your name exactly as it appears on this card. If you own shares jointly, each owner should sign. When signing as executor, administrator, attorney, trustee, or guardian, or as custodian for a minor, please give your full title as such. If you are signing for a corporation, please sign the full corporate name and indicate the signer’s office. If you are a partner, sign in the partnership name.




Important notice regarding the availability of proxy materials for the shareholder meeting to be held on November 19, 2009. 
The proxy statement for this meeting is available at https://www.proxyweb.com/Putnam.

Please sign and date the other side of this card.  The pages referenced below indicate where the proposal can be found in the proxy statement. 

THE TRUSTEES RECOMMEND A VOTE FOR ALL APPLICABLE PROPOSALS OTHER THAN PROPOSAL 5. If you have any questions on these proposals, please call 1-866-451-3787.

Please fill in box(es) as shown using black or blue ink or number 2 pencil. PLEASE DO NOT USE FINE POINT PENS. [x]

  Put 09 - DH 

                              FOR  WITHHOLD  FOR ALL 
Mark here to vote on all proposals as the Trustees recommend. (No other vote is necessary.) □   ALL  ALL  EXCEPT* 
1.  Electing Trustees (see p.4):                      □ □ □
01  R. Akhoury  03  C.B. Curtis  05  M.R. Drucker  07  P.L. Joskow  09  K.R. Leibler  11  G. Putnam, III  13  W.T. Stephens       
02  J.A. Baxter  04  R.J. Darretta  06  J.A. Hill  08  E.T. Kennan  10  R.E. Patterson  12  R.L. Reynolds  14  R.B. Worley       
* To withhold authority to vote for specific nominee(s), but to vote for all other nominees, write the number(s) of the excluded nominee(s) on the line below.       
                              FOR  AGAINST  ABSTAIN 
  
2.  Approving a proposed new management contract for your fund (see p.12):            □ □ □
2.A. Approving a proposed new management contract for your fund: With both Fund Family breakpoints and performance fees (see p.12):    □ □ □
2.B. Approving a proposed new management contract for your fund: With Fund Family breakpoints only (see p.12):      □ □ □
2.C. Approving a proposed new management contract for your fund: With performance fees only (see p.12):      □ □ □
3.  Approving an amendment to your fund’s fundamental investment restriction (see p.20) with respect to:           
  3.A.  Investments in commodities                    □ □ □
  3.B.  Diversification of investments                    □ □ □
  3.C.  The acquisition of voting securities                  □ □ □
  3.D.  Borrowing                        □ □ □
  3.E.  Making loans                      □ □ □
4.  Approving an amendment to your fund’s agreement and declaration of trust (see p.25) with respect to:           
  4.A.  The duration of the trust                      □ □ □
  4.B.  Redemption at the option of the trust                  □ □ □
5.  THE TRUSTEES RECOMMEND A VOTE AGAINST PROPOSAL 5. Shareholders request that the Board institute procedures to prevent holding       
  investments in companies that, in the judgment of the Board, substantially contribute to genocide or crimes against humanity, the most  □ □ □
  egregious violations of human rights (see p.26).                       
                                 
Put 09 - DH 

 

 GRAPHIC 2 singlesballotx3x1.jpg GRAPHIC begin 644 singlesballotx3x1.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0`617AI9@``24DJ``@```````````#_ MVP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+#!D2$P\4'1H?'AT:'!P@)"XG("(L M(QP<*#7J#A(6&AXB)BI*3E)66EYB9 MFJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?H MZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!`0$!`0````````$"`P0%!@<("0H+ M_\0`M1$``@$"!`0#!`<%!`0``0)W``$"`Q$$!2$Q!A)!40=A<1,B,H$(%$*1 MH;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF)R@I*C4V-S@Y.D-$149'2$E*4U15 M5E=865IC9&5F9VAI:G-T=79W>'EZ@H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::G MJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:XN/DY>;GZ.GJ\O/T]?;W M^/GZ_]H`#`,!``(1`Q$`/P#W^N.^(6K7N@>`]4U32I_)O(/+\N3:K;=TJJWR MM\O=J[&OFKQUJ^O:#=^)O#6HPLVG:I9)YDS*J#:K?[/RUW-?*FC:CX@\1:#9^"=&AVP[I)+AE; M_6;FW?O&_A5:^JZ`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@!I;%.HHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`9YB^9Y>1NQG%>1>$O&.OZC\6-:T.[O_.TV MUDN5AA\F-=NV3:OS*NZH_BG#XDT+Q1;>,=&'^BVEK';S;?FS^\D9@R_W?F6O M+M,\<76D^+=8\165LHNK_P"T>6K-N6)I)-W_``+;0!]8K(KE@K!BIPWM4E<# M\+-*UK3/"UQ)KN[[=?7C7C>8VZ3#*J_-_M?+7?4`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!7->+/"6G>+M':POTVLOS0SJ/FA M;^\O^%=+10!RW@_P9IO@[2/L=FOF3/\`-/O%+10`F:6BB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB ,@`HHHH`****`/__9 ` end GRAPHIC 3 complexwideproxyfinalrex62x1.jpg GRAPHIC begin 644 complexwideproxyfinalrex62x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@$ M"0,A`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HK$\10_:)]+B^S M07.ZY;]U.<(W[J3KP?KT[5%$\NC74<=S+%;VLTW;8L)KA=2GM)YVG58(YE9E`(+%P5X`X^48[^YH`TZ*X^RN[R M'15:"Z:-+/2(;E8]BD.V)."2,X.T="*U)K^^2YEMHD:26-6N5&S[\6WY4SC` M._CUP,T`;E%,_?!P0,YJ2.Y>74M- MN3?SI%);2J-WE@3.'7`^[@[AD\=0,C`SD`Z6BN3.H:G'IL%P;]V>33&OCF), M;D"';P/NG=SW]"*L1ZQ=R:R(-LJOYNSR&:$+Y><;\;O,/'.<8[8[T`=)17(O M=ZC-H:![N6:2]TN6?Y44,KJJ8"X'?N2>@`[GVIMM=0W2%H6)VG#*RE64^A4@$?C4& MHP2RFVFA&]K>;S/+SC>-K*1]?FR/<5G7FGW-^9)VMVC\V6V!@9UR$CDW,3@X MS@GH3P!0!O56O;Z"Q2-K@O\`O'V($C:1F;!.`%!/0'\JP+K2;]7D2VMX6LEG M8QVQC5UP4CPP7>H&&#]^,Y`Z5H7FGW9"Q(!P0RE2I]"#R#[&IJQ+K2A&48V[ZC"=S3POLW2R':%7#(2V,KN1E#CU4D881]# M7.:=X>2`:2TFGVZO!:.)CL3(F_=[3[GAN?UJ32]-GMELA>6'VB1(H5CDW)_H MNU%#+G.>H)^7.R MG:3,ICX''W1D8X&!TXI^@V&H6MVSWFP8CVR,D87SWR/G)WDD\'DA>O3I@`WZ M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`*E_?"R,"B":> M2=S&B1;$D%&7AT!(^\*K6VE7EJ4GC,4DJ.Y6"29F4!@N>!X6B!W9FD+G[N\OL"XP0-Q`.01UYZ4Z/3+N*!44PL;>ZDN M(@7($H8N&1RS';A'5CM' M;..W4]:C&BW.];HWC?:1/]H,>$\O=C:1G9NQL^7.?\*`-&YO1!((D@EN)2-V MR+;D+G&220/US4$VL010B813O`$\R254PL:\\G)'3!R!DCN*?<6]PE\;RS6) MW>-8I$EHJB^GZA%'%;PQVT]L"TD@>=HS)(S%CD!&^7)Z M9H`N#5HC]H40S>9#*(?+P-TC%0PV\XZ'OCO2G58A`C"&8S-)Y0M\+YF\#<5Z MXZ#.P7/3GK3KZ[>V$*Q1"26:3RT M#-M7.">6P<#`/8T7]I]LACCW[-DTWC$GFF M/R0T4AP1\Z#&X=#UZ@>E`!%JLMT`EI;*\X!,B22[50!BO4`YR5;''..U*FJ- M<[4L8%EFV[Y%DDV"/YBN"0#SE6'3'RGFFV^D26:1FSN5255*,7BW*5W%@H`( MP%W$+SP..:D6T*+ M)!'$+Q%8)`:C;AI&#/*+9@S^N3YF>>.F,` M8';``R;Q!L%JHCMHI)_-!^TW/E*#&P4@-M.[).1P,@5KO)(ML9!&K2!<[`W& M?KC]<54^QW@MH8H[FU0HI1@+7Y"O^RN[(./3*93)Y/[\\YV^9G[O;&.G%`%W3;QKZV:5XO*999(BH;=RCE>N!Z5 M;JK86GV.&2/?OWS22YQC&]RV/PSBK5`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`",P52S$!0,DGH*165U#(P96&00<@B MJ&M)<3VR6MM"LAF8"3>VU-@Y8$X.,_=Z=ZH*+Z"Q^RS0R1QQ3_O/LS,Q\@AB M`C``D@X'`S@4`;J2QR,ZHZL8VVN`<[3@'!_`@_C1'+',F^)U=^0,]Z-)MM10W)472&.&1H(Y M251I#-.06[$X*_@0?2@#JJ*Y:V.H26]T&%S;IL&\[YY7+[AG;N12`1N!V'OQ MBK$3W/VC3Y#'?8(""$F7`&X@NS=#\N#B3G`&.[8Q59OMGVHX^U?;?./\`?\CR-_\`WQG9_P`"S[4`;]%< MYIUG>$Z/Y\]_\UJTESOD;_68BPK>G?CC.#ZG,5FVK232+,LT$IC<3N))9!G: M=I160("#C[I/OF@#J**Y,3-Y]G#65*Q"7"]"O+\]N>G-031WSM9/''=OJ4><4`=917)QG5);>152ZB!>(/\`O9G?=YJ;B"R+@;=V M=N5Q5ITNH;B>"OJGVX+#%-C:OV9VEE`'RC.]50J3G/WB/;%6=8MICK$%U;K,91:RQQ,K M/L$N5*;@O&TX.<\'`ST%`&[16/IGF_;/W7VOR/+;S_M6_/FY&-N[MC=G;\O3 M%;%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`5KR^@L1&9R^96V(L< M32,QP3P%!/0$_A3[:YBNHO,A8D9P05*E3Z$'D'V-4]6LY[NXT\P2/$(IV=Y8 M]NY!Y;C(#`@\D#H>M5I-.ELKZ.ZMHY+LM%*DI+*'9V,>'.<#&$P<>V!0!KK- M&TSPJX,B*&9>X!S@_H?RJ2N0&@W"6$R_V>C7,VE1P"0;,I*J,K`DGOE1D9'' M/05=OM+G2:YBM;-6L91$6CC6,DG]YN*J_P`N[/EY+=1GJ:`.BHKE)=%O9;-5 MDMRTD-K=I#N=I3F*)8K5X(^%Q@R@ON./7!7) M[T`7K:XBN[:*X@;?%*H=&P1D'IUJ6N3CT*Y.G,);53" M"5Y]^O6M";3KU[F6.)EC@*M/')N^[.5VXVCJ`:REPO< M@$`G]1^=&WNDGM1&C(`T4$:)YS!@=QS(P;H1\V,@D&I'TBXD>SF%E# M%,MM+`C(J9MV+`QOC/8`\*3@DXXYH`Z(QH9%D**9%!56(Y`.,@'WP/R%,N;F M*UC#S,0"<`*I9F/H`,DGCM6!<:7<2V-[':6'V3S+26)HMR?Z1(<8;(/L>3@G M=S6G>6,264<4%HTBQR>8HBDV.&YRP.1R0J1] M00"*EKFKNQU:XAB+J)XE=\07$:2.`=NTMAU4E2&Y!X!'4\U/8Z(Q^WB^W/+. M$19R?F($2*6&#P=RG\A[4`;;R*C(&W9=MHPI/."><=.G4T^N`P!R2#E MB"<!)I;F4QJ)) M"BC",V20I_N^E,35`+*XFFB*R02>4R(VX,YQ@*3C.2P'..:?J.FPZB]K]H5) M(H)3(TGI0`V. M]G2ZBAO;9(?.)$3)+O!(&=IX&#@$\9'!YHOKVXAO;:TM;>*:29)'S+,8PH4J M.RMG[WZ41V-P]Q'->723&$DQ*D6P`D8W'DY."1Q@,#FJ<.C26RQR6UQ%'<)N"GR3Y2JVW*JF[@?(#UZY M]:4:*%,#).0UNS21$IG#LQ+L>>>0X48W,5V8P,XZ]QZU'J>C"_NUN-T# M$($"W$'FA,$G*2>W=KD$0;,2&+]\=I!QYF>AQR,?'-$K@,!)'`%E?/7S&R=_//0<@5;TW3C923.TD9,N/DAB\N M,8).0N3\QSR<\X%`%^BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@#+UO4'L/L@2XMK99YBCS7(RB#8S?WEZE0.O>H[ M/63)`?E%Y*9&6(VN`)E4#+KN;``+8.6ZBKM_8B],#">:"2!S(CQ;<@E2I^\" M.C'M4`T:)M`"Q:Q!-=16\,W-3'1X M-T&)9E2%_,V`C#ONW;B<9SGDX(SWR*4:1$L;(DTR_O6FB(*YA9LY*\=]S=<] M?2@",ZY%YJPI:W,D^UF>)0FZ/;MR&RV,X<'@G/Y5->WXCT.?4;4JX6V:>(L. M&^7<,^U)!I,$%R+@/(\VQT=V(S)NVY8X'7Y%'&!CM34TE1I\FGM/(;1K5;55 MXW*`I4MG'4@CMCB@"E+K\FRVCBA3[5Y\4=U&3D0AG"_CG.5]N>V*N?VD_P#: MWV,=# M5274[QK'[9"D`1,HT399I9`Q4HIXQR.#SG/05?N;(3RK*D\MO*!M+Q;K?.I.X]S0`R]U&YT^??<"%K?$C%(P=Z(B MEMY.<$<`8QP6')J!=<:*UFGN)(20JE(Q$\>"Q"CYF^^N6'S`5;32`+F>5[RY ME2?(DB<1E64@C;G;NP,\#/\`6E&CPMGSYIK@A=D9D*YB7(.%P!W53DY/`H`9 M:ZM"D+OJ%];1[6"Y=&M\9S@%7.>QP>^#4,VL.FK?95:W_P!:D:P$_O9%8`F1 M>?NC)['[IYJ_:V"0,\DDLES,X"M+,%R0,X'R@#`R>W>H6TB%IMQFF,7FB;R, MKLWAMV[.-W7G&<>U`%6;4;V'4;F%);6Y$$#3-`D163OL7.\Y)QR5>63K"JN+J-"T0SDE2-^<@`=_P"(<=JL3Z1#=._VJ:>>)@P6)V&U-RE3 M@@!NA/4FG1Z6L8F875P9Y553-E0RA22H``V\;CU!SWS0`:+=3WNG)8 M24:%2H*]L@D\_C[5?JO9VB6B.%=Y'D;>[OC+-@#/``Z`=`*L4`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%8^ORLDNG+ON%CDG82"W+!F7R MG./EY/3/'/''-5;>6]M[I)G6\>Q*2I"I5W?GR]ASD28)Z#KC-`'0!E+%0 M1N`R1GD4ZN.6VO([2XN"NH?;IM)BV,K2DF54<,#C@-RO!YR21SFK]\MW;37- MO&+MK5Q$WG9ED*$^9N(VG<1E4&U2,;L\"@#HJ*Y25=4DLU;=>B2&UNV39O7< MZR#RLCN2!P#G(SUYK5M?.L]0FC;[3);M%"RE]TF)&9PV#S@?=)'0=>*`-:BN M?B^U_97V_;?M^U/M.[?Y?WAO\O/RYQNQM_'FH_*N9I[>.!K]=/:X49=Y5EQY M8S$"%?,V$@\?PK\W4YZG- M;]`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M4*W5NUPUNL\1G4;C$'&X#UQUJ:L198;G5DC%K<0K;2NZ'[+(HDD*L"V[;M`P M3U/)/TR`7X]5TZ42&*_M7$2[I-LRG8/4\\"B/5=.EBDECU"U>.+'F.LRD)GI MDYXJAHHFMC':QO=RV<,.T_:8/+:-EP%5<*-PQGGGH.:;);R?9%OY?,2Z:?SP M!"TNSY2JJ4!R<*>F#3Y)8XE#22*BDA0 M6.`23@#\37,&WO;:&W!WK($FVN;9YQB1R=A53\I`"\DXY(HO[+5'T^T`L8FC M@^S>5$;AF>-@R;MV$()'(W9X&3W(H`ZAW6-"\C!449+,<`"FP3Q7$2RP2I+& MW1T8,#^(JGK<0/&P`YQAP]N#B3 M8T64V*&<(>4P!CGO@]Z`-;^T+,"(MM2&Y@6X6W,T8G8; MA&6&XCUQUK*>-;2>]BDM))H[A56!8XBR[`@'EDCA>03S@?-53[!=I);VRS2- M,TD$T[F`D%D"!B),X`(4C;UR?3-`'2T444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`#&C1V1G169#N0D9*G!&1Z<$C\:?110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%)2T4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`?_ !V3\_ ` end GRAPHIC 4 complexwideproxyonex1x1.jpg GRAPHIC begin 644 complexwideproxyonex1x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@$ M$@,?`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**:X9D8*VUB,!O0^M MOY5K3I.IL85J\:-N9;G945Q?]O:E_S\_^.+_A776L MZW5K'.O1U!^GM3J494]6*CB85FU$FHHHK$Z`HHHH`***Y/4-=O!?2K;3;(E; M:HV@]._(K2G2E4=D8UJ\:*O(ZRBN+_MW4O\`GY_\<7_"NITPW#V$3W3EI7&X M\`8!Z#BJJ494U=LBCB8UG:*9;HHHK$Z0HHHH`****`"BBB@`HJO>WD5C!YTV M[;G'RC-4/^$DL/\`IK_WS_\`7JXTY25TC.56$':3L:]%4[#4H-0\SR-_[O&= MPQUS_A5RI:<79E1DI*Z"BBBD4%%%%`!1110`4444`%%%%`!1110`4457O;R* MQ@\Z;=MSCY1FFDV[(3:2NRQ161_PDEA_TU_[Y_\`KU;L-2@U#S/(W_N\9W#' M7/\`A5.G.*NT9QK4Y.R9VL$A26XC1QV9@#3/[3L?^?N'_OL5S/B/_D+R?[J_P`JRJ[8 M86,HIW/,JXZ4)N*6QZ(C*Z*Z$,K#(([BG56T[_D&VO\`UQ3^0JS7&U9V/2B[ MI,****0PHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`KD_$]IY-ZLZCY9AS M_O#_`"*ZRJ&M6GVO39%`RZ?.OU%;4)\DTSGQ-/VE-KJ<173^%KK?!):L>4.Y M?H>OZ_SKF*N:5=?8]0BE)PF=K?0UZ%:'/!H\?#5/9U$SNJ*2EKR3Z`****`* M6K77V/3I90<-C:OU-<-6_P"*;K?/':J>$&YOJ>GZ?SK`KT\-#EA?N>)C:G/4 MY>Q;TNU^V7\4./ESEOH.M=UTZ5@^%K39!)=,.9#M7Z#K^O\`*M^N7$SYIV[' M?@J?)3N]V%%%1S3PP+NFE2,>K,!7-N=C=MR2BL]M;TY#@W(_!2?Y"G1ZQI\G MW;I!_O97^=7[.?8S]K3O;F7WEZBFHZ2+N1@RGN#D4ZH-`HHJ.6:*!0TTB1J3 MC+L`,T`W;GADU#4\ M3'-.KIV.C\)?\O?_``#_`-FKHZYCPO<0P?:O.FCCW;,;V`SU]:WO[0LO^?RW M_P"_J_XUR8B+=1Z'?A)15&*;_JY9HJ&*ZMYFVPW$4C8SA7!-35@TUN=::>P4 M44A(`R3@#N:0Q:*I2ZM80G#W29']WYOY5&-)_^05_VT']:TY9H MH%#32)&I.,NP`S6-XBN[:;3=D5Q%(V\'"N">]:T4^=,PQ$E[.2OT.6KH_"7_ M`"]_\`_]FKG*W_"]Q#!]J\Z:./=LQO8#/7UKT,0KTV>1A&E6BW_6AT]%5O[0 MLO\`G\M_^_J_XT^*ZMYFVPW$4C8SA7!->7ROL>XIQ>S)J***10445#/=6]N/ MWTTSGV( M56FW927WEVBD5@P!4@@]Q2U!H%%%%`!1110`45!<7EM;?Z^=$/H3S^553KNF M@X^T_P#CC?X52A)[(B52$=&TC1HJM!J%IJ..\ M1_\`(7D_W5_E656KXC_Y"\G^ZO\`*LJO6I?`CY_$?Q9>IWNG?\@VU_ZXI_(5 M9JMIW_(-M?\`KBG\A5FO*E\3/?A\*"BBH)KRV@XFGC0^A89I)-[#;2U9/16< MVN::IP;D?@K'^E"ZYIK'`N1^*,/Z57LY]F1[:G_,OO-&BH8+NWN/]3-')[*P M)J:I:MN6FGJ@HHJ.:>&``S2I&#TWL!G\Z6X-VW)**K?VA9?\_EO_`-_5_P`: MDAN8)R1#-'(1UV,#C\J?*UT$I1>B9+1112*"BBFNZQH7D8*HZEC@"@!U%5O[ M0LO^?RW_`._J_P"-.CO+:5PD5S"[GHJN"33Y7V)YXOJ3T444B@HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`.'UBT^QZC)&! MA&^=/H:HUU7B>T\VT6X4?-$<'_=/_P!>N5KUJ,^>"9X&*I^SJ-=#MM$NOM>F MQL3ET^1OJ/\`ZV*T*Y3PO=>5>-;L?EE&1]1_];-=77GUH MY6JQHPN/U/Q$[DQ67RKT\PCD_3TK#DD>5R\CL['J6.33*T-.TBXU#YD`2+N[ M?T]:]%1A2CV/%E.KB)6W,^BNJ3PQ:A?WD\S'U7`_H:BN/"Z;"K)7L8%O)XE2G*F^6045IZ-I:ZEYVZ4Q^7MZ#.%_\`D*-_UR/\Q76UE:;HB:?('5A#?'94@X2Y6>Y2J M*I!204445!H8OBK_`)!L?_78?R:N3KNM3L%U&W6%I"@5PV0,]B/ZUSVJZ(FG MVGG+.SG<%P5Q7?AZL5%1>YY6,H3E-S2T,:BBM/1M+74O.W2F/R]O09SG/^%= M4I**NSSX0=27+'FZ(FGW)F6 M=G)4K@KBN:I7A*#29W4<)5A44FC5J.::.WB:65@J*,DFG].M<;K>IM?7!1#^ MXC.%'][WKDI4G4E8]#$5U1C?J3ZCX@GG)2US#'_>_B/^%8S,68LQ))ZDTE:F MG:'<7JB1B(8CT9ADGZ"O2M"E'L>,W5Q$N[,NBNJ7PQ:`?--.3[$#^E077AC" MDVLY)_NR#K^(J%B:;>YH\%62O8Q+2^N;-]T$K+ZKU!_"NHTG6HK[$4H$<_IV M;Z5R<\$MO*8ID*..H-,!*L&4D$<@CM3J4HU%*:?LX?,4DL26))/4FDJU8V$]_ M+L@7@?>8]!6]!X8@"CSYY&;OLP!_6NB=:$-&SCIX>I5UBCF.E;.DZ[+;NL5V MQDA/&X\E?\15Z?PQ`5/D3R*W^W@C^E8%]8SV$NR=<9^ZPZ-]*GGIUERFGLZV M&?,6O$+*^JNR$,I12"._%9E*23U)..*2M81Y8I'/4GSSM.HU MN<]176+X9LA]Z29O^!#_``J*;PO`5_<7$BM_M@$?IBG]9IB>!K6V.95BI!4D M$="*W=)U^2-Q#>OOC/`D/5?KZBLJ^L9[";RYUQGD,.C#VJM6DHQJ1U,(5*E& M6FAZ*"",CD50UNT^UZ=(H&73YU^HJ#PW=FXL#$YR\)V_AV_K^5:]>8TZ<_0] MU.-:G?HSSFM'0KK[+J<9)PDGR-^/3]<4S6;3['J,B`81OG3Z&J72O4TJ0]3P M5S4:GFF>BT54TRZ^V6$4V?F(PWU'6K=>0U9V9]%%J2305A^*+GR[-+=3S*V3 M]!_]?%;E<7KUS]IU.3!RL?R#\.OZYK?#PYI^ARXRIR4FNYFUT7A6URTMTPZ? M(O\`7^E<\`20`,DUW>G6PL[&*'NJ_-]3UKJQ4^6%NYP8&GS5.9]"U1117FGM M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`1 MS1+-"\3C*NI4UP5Q"UO<20O]Y&(->@UR_BFTV7$=THXD&UOJ/_K?RKKPL[2Y M>YP8ZGS0YUT,6"5H)DE0X9&#"N^@E6>!)4/RNH85Y[75>%[KS;-[=C\T1R/H M?_KYK7%0O'F['/@*EIN#ZFY7&>(+K[3J3A3E(OD']?UKJM0N19V,L_=5^7W/ M:N#)+$DG)/)-9X2&KD:YA4LE!"5V^BVGV33HT(P[?.WU-]1^A5U*Y^R:?-,#\RK\OU/`KA"23D\FNL\4,5TQ0/XI0# M^1/]*Y*KPL;0N9X^5ZBCV+FE67VZ^2$\)]YS["NXC18T5$4*JC``[5SOA*/F MYD(Y^51^N?Z5TE<^*FW.W8Z\#34:?-U84445S':5-2L4O[5HF`##E&]#7#.K M([(PPRG!'H:]$KBM>C\O5YP!@,0WY@?UKMPDW=Q/-S"FK*96L;DVEY%.#]UN M?<=_TKO07AJ MD*<^:9VM%<=_PD&H?\]$_P"^!1_PD&H?\]$_[X%D%9'B?_`)!7_;0?UK7K(\3_`/(*_P"V@_K6E'^(C'$?PI>AR%='X2_Y M>_\`@'_LUGA8VIW[GB8Z5ZMNQIZ#8+?7F M9!F*(;F'J>PKL@`!@<"L7PK'MT^1\MNN3$39K$&1 MPN6_(&NR3Y8M]CS8+VDTGU9UMC:1V5JD,8Z=3ZGUJQ117CMMN[/HTDE9!5>^ MM([VV:&0=>A_NGUJQ10FT[H&DU9GGDT;0RO$XPR$J:96GXBC":O*1_$`WZ5F M5[$)1\]BQQ^5=$,+ M*2N]#DJ8ZG!VCJ=[O3^\OYTH(/0@_2O.J6U8\-\Z_7O_2NEK@;&X-I>13C^!LGW'?]*[U6#*&4Y!&0:QQ4 M+3OW.G`U.:GR]B"_N!:64TYZHO'U[?K7!$EB23DGDFNE\57.V**V4\L=[?0= M/\^U@6OVG4D)&4B^<_AT_6NSK'\-6ODV!F88>8Y M_`=/ZUL5RXB?-/T._"4^2DN[U"BBBL#J"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`*IZK:_;-/EB`RV,I]1TJY133:=T*4 M5)-,\ZZ5?T2Z^R:E$Q.$?Y&^A_\`KXIVNVGV74GVC"2?.OX]?UK-KU]*D/4^ M=]ZC4\TSH_%5US%:J?\`;;^0_K7.5+<3R7,QEE.7(`)^@Q1;PM<7$<*?>=@! M2IQ]G"Q5:HZU1M'3>&+3RK-KAA\TIP/]T?\`UZVZ9#$L,*1(,*@"BGUY=27/ M)R/=I05."B9'B:,OI6X?P2!C^H_K7(5Z!=P"YM98&Z.I&?2N"EC:*1HW&&4X M(]Z[<)*\7$\S'P:FI=S;\*3!;F>$GEU##\/_`-==17GUM.]M<)-&<,AR*[>P MOH;^`21-S_$O=366*IM2YC?`U4X)_^05_VT']:Y"NO\3_`/(*_P"V M@_K7(5KA?X9SX_\`B_(Z/PE_R]_\`_\`9JZ.N:\)R*);F,GYF"D#Z9_QKI:Y M,1_$9Z&#_@K^NH5R7BA"NI*W9HQC\S76UA^*+4RVB7"C)B.&^A_^OBC#RY:B M#&0HK$39S-A6.4)['TKNK M.:C>!Y6&5.4^6HMR3_A%?^GW_P`A?_7H_P"$5_Z??_(7_P!>NCHKA^L5.YZO MU.C_`"_BSG/^$5_Z??\`R%_]>C_A%?\`I]_\A?\`UZZ.LZYUFTMKM;=WR3PS M#D)]:<:U:6B9,L-AX*\E;YLS?^$5_P"GW_R%_P#7KH8UV1JN<[0!FE!#`%2" M#R"*6LYU)3^)F].C"G\"W"BBBLS4*R/$_P#R"O\`MH/ZUKUD>)_^05_VT']: MTH_Q$8XC^%+T.0KH_"7_`"]_\`_]FKG*Z'PG(HEN8R?F8*0/IG_&O1Q'\-GC MX/\`C1_KH=+1117E'O'/^+(R8;:3LK%?S`_PKF:[G5K0WFGRQ*,OC/8W:3KR!PP]1 MZ5VUM&[0SW_G$?)",_4]JZVL\5/WTET-\#3_=M MOJ>=5>T:40ZK;NQP-VW\QC^M1ZE;&TOYH<8`;*_0]*K=*[7:4/YFO.HQ3JZGLXB3CA]/(Q*V-&T4WZ^=,Q2$'`QU:L>NXT4J=)M M]G0+@_7O75B)N$=#S\'2C4G[W0(M(L(EPMK&?=AN_G3VTNQ;K:0_@H%6Z*\[ MGEW/9]G#:R,/4="LEM9IHE>-HT9P`V0<#/>N5KM-=NEMM-E4GYY044>N>OZ5 MQ=>AAG)QO(\C'1A&:458VO"O_(2D_P"N)_FM=97)^%?^0E)_UQ/\UKK*YL5_ M$.[`_P`$*YGQ3:;9([M1PWR/]>W^?:NFJMJ%J+RRE@/5A\OL>U94I\DTS:O3 M]I3<3@J['P[=?:--5"?GA.P_3M_GVKCV!5BK#!!P15S3=0:Q,^W/[R,J/9NQ MKT:]/VD+(\?"U?95+O876+G[5J4T@.5!VK]!5>U@:YN8X5ZNP'TJ&M_PM:[Y MY+IAQ&-J_4]?T_G3FU3IZ=":<77JZ]3I(T6*-8T&%4``>U/HHKR3Z`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`,?Q+:>?8>$Y_`]:Y&O1'19$9&&588(]17!7ENUI=RP-U1L?4=OTKO MPD[IQ/)Q].TE-=2"M[PM:;[B2Z8<1C:OU/\`];^=876NYTJU^QZ?%$1AL;G^ MIZUIB9\L+=S+!4^>IS/H7****\P]L*P?$&DF;-W;KF0#YU'\0]?K6]15PFX2 MNC.K3C5CRR/.:DAFEMY`\,C(P[J<5U>I:%!>$RQ$0S'J0.&^HKG[G1[ZV)W0 M,Z_WH_F%>E"M":/%J8:K2=U]Z+,?B2^1<,(I#ZLO/Z$4R?Q!?S*5#)$#_<7G M]:S&5D.'4J?0C%.C@EE_U<3O_NJ33]E36MB?;UGIS,:S,[%F)9CR23DFG0PR M3RK%$I9V.`!6E9^'[R<@R@0)ZMU_*NDT_3;?3TQ$N7/WG;J:BIB(P5EJS6C@ MYU'>6B&Z3IRZ?;;.#*W+M[^GTJ]117FRDY.[/9C%17*MC.UZ`SZ3,%&2F'_+ MK^F:XJO12`1@C(-'=- MNK6Y>>>/RU:,J`3SU!Z?A70UYU?EY_=/8PJE[/W]_,XC5=-DT^X*X)B8_(_K M[?6J%>A3P17$1BF0.C=0:YN^\-RH2]FPD7^XQPP_'H:Z:6)35I[G%B,%*+YJ M>J*MGKUY:J$8B9!V?J/QJ[_PE+X_X]%S_O\`_P!:L6:SN8"1+!(F.Y4X_.H* MU=&G+6QSK$5X:7-2[UZ]N5*JPA0]DZ_G695B&PNYSB*WD;WVX'YUM:?X;.0] M\PQ_SS4_S/\`A0YTZ2&J=:N]1WA=[MD96YM5Z%NQ]!70TU$6-`B*%51@`#@4 MZO-J3YY-V/9I4_9P46[A1114&H5G:]`9])F"C)3#_EU_3-:-(0",$9!JHRY6 MF3.//%Q?4\ZJ2">6WE66%RCKT(K8U30)HI&DLU,D1.=@ZK_C6-)')$<2(R'T M88KUHSC-:'S\Z4Z4M4:O_"27^,8B^NW_`.O5O0+^ZO=3D^T2EP(B0O0#D=JY M^.*24XCC=SZ*,UT7AW3;JUN7GGC\M6C*@$\]0>GX5A5C3C!VMVY.^W);Y5P5A8^I4_T-0W.NW]PI7S!&IZB,8_7K6:05.""#Z&I(K:>8CRH M9'S_`'5)I^RIK6PO;UI:79'UJ:TM9;R=885RQZGL!ZFM.R\.7,Q#7)$*>G5C M726=E!8Q>7`F!W)ZM]:SJ8B,5:.K-J&#G-WGHA+"SCL;588^<O]UOK M750K\ONRV.#%85S?/#:I5*+TNC5G\17TJE5,<0]47G]:RV9Y9"S$ MN['DGDDU8MM/N[H@0P.0?XB,#\ZZ32="CLV$UP1),.@'W5_^O64ITZ*TW-H4 MZV(?O;'+W5M):RB.48?:&(],]JAK;U^TN9M4=XK>5U*K\RH2.E9O]GWO_/G< M?]^F_P`*TA-.*;9E5I.,VDM#M-._Y!MK_P!<4_D*RO%-HTD$=R@SY?RM]#W_ M`,^M:U@K)I]LK`JPB4$$8(.!4S*KJ58`J1@@]Q7FQGR3YD>U*FJE+D?8\[K1 MTO5YM.)4`21$Y*$X_(U>U'P[(K&2R^=#SY9/(^GK6++;S0$B6)TQ_>4BO14H M558\9PJT)7V.G3Q+9L/GCF4^F`?ZU!<>*$VXMK=B?60XQ^`KFU4L<*"2>PJ_ M:Z/>W3#$)C7^])\HK-T*4=6;K%8B>D?R*UU=3WLQDF8NV.@'`'M4%=:-'CLM M+N1&IEN'C8;L_\^=Q_P!^F_PJZ=6$MMD8UJ%2#3EJV:/A7_D) M2?\`7$_S6NLKF?#5K<0:A(TT$L:F(C+H0,Y%=-7%B7>IH>G@DU2U"BBBN<[# MC_$5I]FU$R*,)-\P^O?_`#[UDUV/B*V6?3'?@-$=P)_45QU>IAY\T/0\+%T^ M2J[==0KNM)M?L>GQ1$8;&YOJ:Y71+7[7J4:D91/G;Z#_`.OBNVK#%SVB=67T M]'-^@4445Q'IA1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`E+110`4444`%%%%`&9J^K#36B4()&14QM2-1\NQKZSK1OU$,*E(0!G2&\M);5G.%+]/Y"@#8HK.DU%DUJ*P\L%9$W;\\C@G M^E:-`!1110`4444`%%%%`!1110`4444`%%%5-1U"+3H5DF5V5FVC8`3^IH`M MT444`%%%%`!1110`4444`%%%%`!1110`4454U'4(M.A629796;:-@!/ZF@"W M14<\JP023."5C4L0.N`,U'8W<=];+<1!@C9`##G@T`6****`"BBB@`HHHH`* M**@O;E;.TDN'&0@SCU/:@">BLW2[V]O"'GM5B@9-R.&SGIVJ"UU:[O;H_9K1 M6M5D"M(6P0/7\J`-FBBB@`HHHH`**J:=J$6HPM)"KJJMM.\`']#2-=S+J26H MM',3#)GYVC@\=/;U[T`7****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#FVNX+/Q5= MJ^E)K-[#J_D6ECNED,F[=M(`&/?Z_I5A;(R^)[AY[;?`8QAGCRI.%]>/6MB* M"&`$0Q1Q@_W%`_E0!C3C'BZT&<_NCS_P%J;=WTEYJ4MJM\EE!#PS[@&8]\5- M/!*?%5M,(G,0C(+A3M'#=Z@O+"2TU&6Z6Q6]@FY9,993WQ0`6E[)9ZG%;-?) M>V\W`;<"5-2ZO)&MT1+J\ELN!B*,$D?7%+I\?GW:O_8\=M"G.]UPV>V!BHH$ MN=-U6ZD>SDN%G;*21C)')_+K^E`#M$OY6OY;)[C[5&J[DE[]O\:@GN9;G5;B M&?4'L1$V(E'`;W)_(\^M3:?%/KC(_2@"Q=W#1YY?#YM9CMFW^8@/\/M_/\Z@3?&@BDT`/,!C<%^4^^<4`;&CWQO[ M!)F`#@E7QZBJ>IS36.K6MQYK_9I#L="WR@^N/U_"M'3X?)M$#01P.>72/IFH M]7M/MNG2Q`9?&Y/J/\X_&@"GK$TTVH6EA;2O&SG?(R,00OX?C^E%_=W,^I+I MMC((B%W22'D@?YQ^=,T"VN&FEO;U'64@1J'4@X`Y./R_6GZA:74&I+J-B@E) M7;)'T)'^?:VUXDK^7(`!'VZ$Y^O:I M[N34-7C%JMDUK$Q'F/(?2I==T^23288;5"_D$?*.I`&*`)BKZ-87$\MS+@'ZUFQM/<6XN7UR.*=AN6(2`*/0$9_I6@//UG3IX;BU:U)P%WYY/7/ M05G0QR6T8@GT,32KP)%7(;W)Q0!KZ+?MJ%@)'`\Q3M?'<^M,UJ_EM$AAM@#< M7#;4SV]_U%6=.A,-HH>WB@D;ETCZ9JMK5A+=I#-;$"X@;_P#G`H`K2Z?J MD,)GCU)Y)E&2A'RGV'_ZJ9&WN8V,4H8*Q1B,'(I\FHZI-"8$TUXYF& MTN3\H]Q_^NF7.F26OAM[:-6EE+!F"`G)R.E`$;P:H^EI??;V4I$'$8SRH'4G M/)QSS6MI%T][IL4\GWSD-CN0<9IGEO\`\(]Y6QO,^R;=F.<[.F/6F^'XI(=) MB25&1P6RK#!ZF@"IKT]S%?V"6TK*SMC;N(5CD8SZBJ^H'4M(>.Z:]-PKMAD8 M87/IBK>LP2RZIIKQQ.ZI("S*I(7YAU]*/$\$L]E$L,3R,),D(I)Z'TH`JZA% MJEC"+]K\LP(WQ`849]NAK3NY_-TJ.;[5]C\Q5;?C.,C.*3Q!%)-I,J1(SN2N M%49/451O[*Y>QTR6.$R?9T4R0G@G@=OPQ0!2?4#9%)[75)+L;L/%*#T_&K/B MN)C%#<>:^PD+Y?;/)S]:36GN]0LHQ%ITR*K@_,OS=#V';_ZU7?$%G-=:9&($ M+O&P8J.N,8H`;=:=-#I-TK7\\AVE\L3T`/R]>AJ'PY9R&WANOMOXU>AFN=2T^Y2:U:V9D*+OSR2#SR!5309;RW$=C+8R(BEB9CP!U/ISS[T` M0?;7U.YF)U);*WC;"`.%9O?J*L:7?2)J36$MTETA7='*I!/T/ZU6-@^FW$N[ M35O;=VRA5X:9M+BM$4?(2,/G_`/50!FVLNI7=[>VUO<.H\PYD M=B=B@G@>F?;TJSJMQ<6TEG9O=/#$8QYEP`26(X^O_P"NIM"@EBO=1:6)T#R` MJ64C=RW2K&IS7,;@"P6[MB/F`Y;/TH`;I44JR%UU/[7;XZ'D@_6M&4XB<[]G MRGYO[OO6%I=K*^KB[CLWLH`A#(W&X_3_`#TK3U>VEN]-FAA/SL!@9QG!SB@# M!FG$:N\6O223H"P4J0K>P[58U"634/#27;2,A7[Z+T<[@.?YT]9;HZ.UDFF2 MJZQ%&8C"GCJ/4_UIJVT__")-#Y,GFY^YL.[[X/2@";2]-F.GJXOYP)80%7)Q M'T/'/MC\:I>&[.2>/SENY8ECE&8U)VMC!YYK?TQ&33;9'4JPC4$$8(XK/\,0 M2P64JS1/&QDR`ZD'H/6@"K]M?4[F8G4ELK>-L(`X5F]^HJQI=](FI-82W272 M%=T*6\UJXF,-R;:UC;:I3JWXU<@L;\0SP3WQ96P(Y%&''XU3BBO=%N)EAM6N M;61MRA.J_A6CI]Q>W+2/@"N7OI_$-U;6]TT:[>I)(0?+R!Z_XTZTEO-/UM+&XN&N(Y M5W!FZCKS^E36<$J^)[N5HG$31X#E3@_=[T7D$K>)[258G,2QX+A3@?>[T`1& M2[U?4KB&"Y:VM[<[24^\3_D&H;_[?97MC"]X\D32<,"5)Y&0WK_]>K,EG>V6 MHS7&F^7*LIS)"QP0>M4M0^V2ZI8"Z:/S3(,0Q\[!D$S&$2H91R4W#7^_(@"2BB MB@`HHHH`**:[JB%W8*H&22<`4DY.YN#;2Q26]Q_[MKMUCN#)DL_&[_/7\:7498[W7+%+-@\D39D=.0!D'K^?YT`:4&I>= MJT]CY6/*7=OW=>G;'O1/J7DZM!8^5GS5W;]W3KVQ[5F13QVGBNZ:X<1K)'A6 M;@?PGK^!I)KF*Y\5VC0.'54VEE.1GYC_`%H`NW.NQVM_/;2Q$+$H(8-DL2!P M!^/K5VPNFO+59FB,18GY6ZCFL>.))?&$Y=0=B!AGUVK_`(UT-`&1-);KXD@C M-MF=D)$WF'@8;C;T[?K2W&N+;ZC+:-;NQ0#:4.2Y(!QC'O\`I5>X_P"1OM?^ MN1_DU$`!\87.1TC&/^^5H`GL]<$UX+6XM9+:1ON[^_Z"K%KJ7GZC<6G_`.K/Z4`79=1V M:K%8QP[V9=S-NQL'Y4R]U98+G[-;P/Q_;EM)'?<&=`=XR<"X09,;_P!* MBN-99+J2"ULY;DQ<2%#]W]*K6EL9-:2=]3BN)XEY5$`RO([<=Z;-#`+NXN-. MU-+>8D^8C$;2?Q_^O0!9U*]>;0WECMI/W@*,K<%!@Y/Z5!X2>F/PI\5[+J'ARZEE0!PCJ<#@X'6I/#MS`=+@@$J>:-V4W?-]XGI0`P M:_NEN(ELY))8FVJL9W%N3D]..@_.B+Q%#)$P^SR_:`=H@49)-1^'@/[0U0]_ M,'\VHL0/^$LO>!Q'G_T&@"UIVLK>7#6TL#V\ZC.QN<_H*=>ZLL%S]FMX'N9P M,E$_A^IJG<#_`(K"V_ZY'_T%JJ0BXAUJ]C^W+:2.^X,Z`[QDXY/3K_G%`&SI M^J)>2O`\3P7"#)C?^E03:XL.H36AMG=HQ\NPY+GCC&/?]*@M+8R:TD[ZG%<3 MQ+RJ(!E>1VX[T60!\67F1TCX_P#':`+6GZTMW=&VF@>WGZA6/7^59"7ERGB* MXG6Q=Y2F#$&Y`P.>GM^M7;T`>+++CK%_\53%FCM_%MR\TBQJ8P`SG`^ZO^%` M&["[20QNZ%&902A_A..E9D,ENWB2>,6V)U0$S>8>1A>-O3O^E:J,KHKH0RL, M@CH16';_`/(WW7_7(?R6@">;7%AU":T-L[M&/EV')<\<8Q[_`*4_3]:6[NC; M30/;S]0K'K_*JMD`?%EYD=(^/_':+T`>+++CK%_\50!L74KPV[R1Q&5U'"`X M)KG/#=W/#'Y,=F\L;RC=*&P$Z#T_&NIKG?"UQ#%;2Q2RHDC2\(S8)X`X%`#) M+I;3Q3=2,KN3&%5$&2QVKQ5ZSUP37@M;BUDMI&^[O[_H*@@`/C"YR.D8Q_WR MM&N@?VQI9[^8/_0EH`NWVK+;7`MH87N;C&=B=OJ:2RU9;BY^S3P/;7&,A'[_ M`$-9`$\&O7:_;5M'D.59T!#`G@9/^>*L+;M/JMLTNK1331G<%6,`D#DC(H`Z M&N8TJPM;Z_U'[3%OV2_+\Q&,EL]#[5T]=F?FR6]"/3 M]:`)YK:/2M=LQ9EE68[7CW9XSC_/TK5L=2^V7EU!Y6S[.VW=NSNY(]..E1V& MC1VMQ]HEF>XG[._:L_2[B&TUO44N9%B+R$J7.`>2>OXT`:DFI;-8BL/*SYB[ MM^[IP3TQ[5AI>7*>(KB=;%WE*8,0;D#`YZ>WZU8^TQ7/BVW:%PZJA7<.A.UJ M7TSVYZ_I4$GB'RI M5,MC/'`QP)&&,_AC^M1>("DMWI3*0R.Y((Y!!*U;\2`'1I?9E_G0!:O+PV\, M8<*(Q[9S5*/7&6=(KVREM?,.%8G(_D*J37_B)8 MY%+V4RV['"S,,9^@Q_6ME6#J&4Y4C(/K69XC`&BR@`<%<>W(JWIO_(,M/^N* M?^@B@#G]6GDDU^(/9F41C"Q$_P"L'//3_.*TAJ?V06,)L1!]H8KY8;'E_-CI MCWS4-]_R-EE_UR_^*I/$3"'4--G?(C23+'TP0:`-'5M0_LVV6;RO-W.$QNQV M)]/:H]2U9=/:VWQ;EF)R=V-H&/;GK6=XFO;:>QBBAF21O,#?((?*E4RV,\<#'`D88S^&/ZU>O]3@L8$D?+F3[BKU:J_B0 M`Z-+[,O\ZS)V%O<:-OKP,5K5SU;INX!="U,@$S#(3N>]`$]%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110!B:I!J=^SV@@B6V+@B7=R`/;/\`2M>WA6W@CA3[J*%%244`5KJP MM;S!N(%<@8ST/YBG6UG;VBD6\*QYZX')_&IZ*`*MWI]K>D&YA5RO0\@_F*1= M-LTGBF2`*\0VH02,#GMT[FK=%`%=;.W6\:[6/$[C#-D\CCMT["K%%%`%=K.W M:\6[:/,Z#"MD\#GMT[FA;.W6\:[6/$[C#-D\CCMT["K%%`%>>SM[B:*6:/<\ M)RAR1@]?Z4^XMXKJ%H9TWQMU&<5+10!'!#';PK%"NV-1@#TJ.ZL;:\`%Q"LF M.A/!'XBK%%`%>ULK:S4K;PK'GJ1R3^-1W&E6-S)YDUNK/U)&1GZXZUUI3ESDG)Y]?J M:$L[>.[>Z2/$T@PS9/(X[=.PJQ10!7:SMVO%NVCS.@PK9/`Y[=.YHNK&VO`! M<0K)CH3P1^(JQ10!7M;*VLU*V\*QYZD.[>Z2/$T@PS9/(X[=.PH> MSMY+M+IX\S1C"MD\#GMT[FK%%`!5/^RK'[4+D6ZB4'=G)Z^N.E7**`*ZV=NM MXUVL>)W&&;)Y'';IV%$]G;W$T4LT>YX3E#DC!Z_TJQ10!7NK*VO%"W$*R`=" M>H_&FVFGVEEDV\*H3U/)/YFK5%`!5>WL[>UDE>"/:TIRYR3D\^OU-6**`"JE MUIMG>.'N(%=QWR0?TJW10!533K1+B.=(0LD:[4()``Y[=.YI+K3;.\1YD0/D?ZO!(V]/3Z"GW-M%=PF&=-\9ZC)'\JFHH`K2 MV%K-;I!+"K1Q@*H/4#Z]:A.C:>81%]F78#G@D'/USDU?HH`KSV=O<312S1[G MA.4.2,'K_2B[L[>]C"7,>]5.0,D<_A5BB@"&YMHKN$PSIOC/49(_E3XHUBB2 M.,81%"J/0"GT4`5WL[>2[2Z>/,T8PK9/`Y[=.YI]Q;PW41CGC5T/8U+10!0_ ML;3_`"/)^S+LW;L!CDGZYSW-3SV5OYH3E#N(QT_P`!5BB@"&YMHKN$ MPSIOC/49(_E0UK`ULMNT2M"H"A6YP!TJ:B@"C%H]A$KJELHW@J3DDX/OGBID ML;9+06HA4PCHC?-WSWJQ10!1@TBPMY1+%;*'!R"23CZ9J9K*W:\6[,?[]1@- MN/3&.G3O5BB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`KP7MI1KW!XS^/'X@4S7+S_A*M2MM$ MTV7-F0)KJ9.R]0/\]R/0T`=C!/#@#=HK%M->^T^)[O M1OLVW[-'YGG>9G=]WC;CC[WKVHN]>^S>)[31OLV[[3'YGG>9C;][C;CG[OKW MH`VJ*Y[5O%4.DZ['I]S!^Z:`S-/OZ8#'&W').W'7O5[0=6;6;.2Y-I+:J)"B M++U88!W=/?WZ4`:=%<]K/BJ+1]<@T^>V9HY8O,,JMDC[P`"XY)*@=>]5SXQ- MM3G_OH8X_,T`=316+XFU\:!80W0MQ$D&TC3\2P: MW)+;M!):W<(R\$G4#IQT[^U44\9J^H7UBNG327%O*8HTA;>9<,03T&T#`]>M M`'545S^D^*$O-0_LZ_LI=/O2,K'*26",I%$' MP9E^?Y@<<=3Z]*`/1**J:9]0CQ@;>\CBU72KG3X92!'/)R/^!<Z9B7.(XT&6<^@%8[>,6MBLFI:->V=LY`69ER!]1CCZ4`=316)XA M\11Z-I,&H10K=QS2*B[9-H(*DYS@^GZUFWGC<6Q$R:1>26/>Z*E5/IMR,$?B M*`.MHK*O?$%C9Z&NK,S/;NH,84?,Q/08]?\`"JNF^(;JZOH[6\T2\LS+DQN1 MN3&,\G`P>.E`&_16'J_B2.PO186EI-?WQ7=Y,7\(]SVI-)\2QWM^=/O+2:PO MMNX12\AQ_LGO0!NT5#=220VDTL41FD1&98P<%R!P,^_2O//">J7]OK&K-!I$ MEP;BX4S*LF/(^9^#QSU/ITH`])HK'UOQ%:Z/)%`TW]U%I$DUPT6PVPDP54!` M&SCN`#T[T`>A3WEM;21)<7$,3RG$:R.%+GT`/7J/SJ>N$\:W6+OPS=W49M\2 M&25"<^7S&2/?%7I_'"VMROVK2+V"RZCKZ5?U MSQ!'I,T%K%;2WE[<9,<$74CU)[#_``-`&S16-I&N37]TUK=:5=V4RIO/F#*$ M>S<9ZULT`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110!#>0QW%G-#,@>-T*LI[C%# M+NWTJ\U/3M2F2*_-P6+RX7S![?SQ[T:[<0ZMXQT:'2I5EFMG+SR1G(500<$C MZ'\\=ZZC4=&T[5,?;K2.8@8#$88#ZCFI+#3+'34*6-K'`&Z[!R?J>]`'(P7< M&F_$O49+Z5;>.:`*CR':I.$/4_[IIMU?6U_\2],>TF2:-(2A=#E2<2'@]^M= M9J6BZ=JVW[?:),4^ZQR"/;(YQ3$T'2X[RWNX[1$FMDV1%"0%'/8''\1[=Z`. M:U>".Y^)VF1S('3R-V",C(#D?J!7;U2DTJREU6+4WAS>1+L23>W`P1TSCN>U M7:`.$\37,%G\0]*N+KB%(%+$C.WYI,'\#S^%7?'6IV$WAM[>*XBGGN&3R5C8 M.3\P.>/;/YU-JFCW=UXXT^_6W$EE';F.5RRX!^?C!.3]X=N]:=IX;T>RN_M5 MO81)-G(;D[3[`G`_"@#E?&\,MOX+TF&X),T;1J^?41G-=+X@T]SX4NK'3UV% M8=J(B]0,9`'N`1^-7=4TJRU>!8;^'SHT;>!O9<'&.Q'K5V@#F?"6M:6?#MK& M+J"%K>(+*CN%((ZGGL>N:H^&F%]XUU?4K(_Z`4$>X`A7?Y>1^1/X^];]WX;T M>\N//N-/A:4G<6`(R??'7\:T+>WAM85AMXDBB7HB#`%`'(_#`#^Q+HXY-R>? M^`K2>#%`\3^),`<7!`]OG>NGTO2K+2(&AL(?)C=MY&]FR<8[D^E%EI5E875S M5XSD*N5."1[! MN/?WI=?FCM?B-I-Q<2+%"+?!D5)HFSM>-@RG!QP1[UQNOV\5 MU\2=)BF0.AMP2IZ'!D(_45V-I:P65LEM:Q+%#&,*B]!WJ";2K*?5(=2DAW7< M*[(Y-[#`Y[9Q_$>U`&-\0+>>?PQ+Y&<1R+)(H'5!G/Y$@_A6;;R7L^EK*OC& MT6V*!2K6L0VC'W2.Q]J[<@$8(R#6/)X4T*2Y^T-IL7F>@)"_]\@X_2@##M]* MTB'P?'9ZEJJ2VD\V^WN`-FTD=!G/^UU]34,^I:CX=:T:+68=8MII!&L)P9,' MN"#D_7/<5V6R`J,=.*HV7AG1K"Y^T6UA&DH.0Q);:?; M)./PH`YK7KJ"R^)&G7%T0L*0#4D3 M!VZ]>/Q'XU8O]&N[GQU9WYMA)8);M'(S,N,E7&-I.3]X=N]:=EXPNC%+Y0HVB MT;`],+5O4]+LM7MUM[^'SHE<.%W%><$9X(]34UQ;0W-K);3)NAD0HRY(R",8 MR.:`.,TR#2[KX>:?;ZO<+;Q/(_ER$X*OO?!'X9J6UU+4-'UG3]/;4XM7M;MM MJD`&2,<AKIHM'T^+35TY;5&LUSB)\N!DY[Y[FHM/\/Z5IDS365E M'%*<_/DL1GTR3C\*`.."7MKXTU2+^V8]-EN&#QR2PJPE0G@`MTQP/?%7H]/E MN_$E@]SXGM[N[MFWK&D"ABO!9X]:ZK4=*L=4B$=];1SJ.A8RC:X!SOR1D^I`.#^-`'.S3QZ3\1Y;K4W"07-OM@E?A5.%'7 MH.A_/WJ;QWJ%E=Z.+"WECN;R>1/*CB(8CGKQTXX_&NHO;&UOX?)O+>.>/KM= MW4*\K!5/RIW/T/Y5W%9NI:#I>JRI+?6:2R)P&R5./0D$9'L: M`.;\;/'<:MX9=&62*2-=SQB0;E'')'4#D?G2VUY:W>[[+1@JC\30!+148GA:W^T"5#" M5W^8&&W;USGIBH/[3T_RHY?MUMY3 MST7IZUT=Q=6]JF^YGBA3^](X4?K0!-145O@#J**CBFBGA6:&1)(F&0Z,"I'UJ.& M^L[B5HH+J"61/O(D@8K]0*`+%%03WEM;21)<7$,3RG$:R.%+GT`/7J/SH6[M MGN&MUN(FF49,8<%A^'6@">BH#>6JW`MVN81.>D1D&X_AUJ:@!:*K1:A933M! M%=P22KUC60%A^&:?=7=M9QB2[N(H$)VAI7"@GTR?I0!-15>2^M(IDAENH$E? M[J-(`S?0=ZS?%6M'1-)>XA>#[22/*CE/W^0#@9!.`>U`&U16=HNK6^J6-O(M MQ;O2YPLGFKM8YQ@'.#4DUU;V\/FSSQ11?WW<*/S-`$U%,CD25`\;JZ-R M&4Y!JNFIV$ENUPE];-`APTBRJ54^A.<4`6Z*C@GBN(A+!*DL;='1@P/XBEEE MCA3?+(D:C^)F`%`#Z*B@N(+E`]O-'*A_BC8,/TIK7ELMTMJUQ"+AQE82XWL. M>0.O8_E0!/16#XD\0Q:7I$MS9W%I+[@@M&N9)XDA` MSYC.`OH.?K0!/17->$_%"ZS9L;^:SANS,4CA1MI9<`@A223R3^5=+0`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`'`)IT.J?$C4[>Y9O)$09T5B!(`$^4X[9P?PJ3Q/IUMX9N]/ MU;24:!S.(Y(HR2)%QG&#],?C40LY[SXBZH+2Z:UN(H1)'(!D9Q&,$=Q@FM:' MPYJ=_J<%YX@OXITMFW0P0*0N>,$\#N/?ZT`9?BNWFN_'VG6]O,87EM=GF#JH M)DW$>^,U9\20IX2\*M!I!DC-S,$:0OEAE3DY[$A<<5JWVAW-SXQL=722$6]O M#L923O)^?H,8_B'>M/5M,M]7T^6RN@?+D[J<%2.A%`&/%X(T3^SQ!)`9)&7+ M3[SN+8ZC_#I5?P;,][9:GI%\3HGP<+Y M?L3W`_?9^94QGR_KGCZ_E76>)M"BN_"SV5K$%-L@>!0.A7M^(R/QJN/!\)\. M&Q:7-\S><;K//G>N>N.W_P!>M2&[DTK1XI->N(5E3"/*A)5CT!Z#D_2@#FM4 MUU]1\$V4<+9O-09;8CH=P.&_/C_OJNOTVR33M.M[./[L*!,^OJ?QKA_"VFP7 MGC"[O+-VDTVUD9X3@A=[`<`>W/Y+7H5`'(>,+"[FU2PO#9/J.G0*?-MD/.>? MFQW[?E[U/X93P_#M(T^ZUK7 M%GM8W6VN`(0?X/F?I^0_*M3Q%/IUYK262:0=6U&&/)3S-BQJ<=2>.X_/WIJ^ M&=7L-&Y!!Z9`_(U+J>EV,GQ)L[9[9 M##<1-+*AZ.Q$AR?Q`K47P[JC>*K/5[J\@G6)")``4(X8848/'(ZGUJ3Q%X=O MKW5K?5M(O([>\A3R_P!X/EQSST/9B.E`&?XXF&GV>F:1:I+%:7$A618!EB@( M^51W)W=/I65JD=C]DC;1-!U>SOX64Q2^01WYR6^?PLTH>W MFG;YL<-&Q,>?H0:C\::%9:#96NHZ6)(+D7`4OYC,3D$YY/7C]:Z/Q'H=UJNH MZ1<6\D2I92EY/,)!(RAXP/\`9/I3O&.B7.O:5%:VCQ(Z3B0F4D#`5AV!]:`, M#Q/X7T[3_#4FH0"7[;%L(M,FU7P]/I]NT:RR!`"Y(7A@3T!]*KS>'$O?#5IIEU)LFMH MTVS1?P.HQD9[4` M1R)<&=1()%VMN"N"2/?&?QK8&E>*Y!]FFUNW6W'!FCC_`'K#\L#ZY[58\6:% M=:UHT%E;31^;'*KL\Y(W`*P[#KSZ4`9FM^$=,C\/75V5E>]CA,IN&D8L[`9. M03CGZ50U$+J'PRMKZ[427,(V)(>2!YFW]0HKM=4LY+S1KFSC*B26!HU+'@$C M'-9-OX:D;P4NAW4R+*`?WD>2H.\L.N/;-`%GPMIEE::197-O;I'-/:QF1QU8 ME03G\:K^/O\`D4KO_>C_`/0Q4OAG3=9TU##J=]%<6\:".".-?N@=,G`/3ZU8 M\3Z9-K&ASV5LT:RR%2#(2%X8'L#Z4`<]J^G7VH>$]!^RPFYAABB>>V5MIE&Q M>_Y_G[4[1)/#K:U;E=,N-+U$9$<ZK:7VO7EM*+-BT45NAQG@Y)('<#\J`.FE_U3 M_P"Z:X+PE_R3S6_^V_\`Z*6N^<;D91U(Q7,Z'X;O-.\*ZCI>?6J_@G1+37M* MDDU7S;E;=S##&96"QC`)Q@]R?TKKO#&F3:/H<%E6)[@>M5?! MVAW.@Z;-;WX(R>10!I6<*>'O'T6G6 M)86=]#O:'=D(<-T_[Y_6FV%M'XI\4ZHVJ;Y(+!Q'#;EB%')&2!_N_K6QH?AZ MXM=1DU75KL7>H2+M!482,>@__4*;J7ANY_M5M5T6^^QW4@Q*K+N23ZB@#(\1 M6$'A6\LM4T@/#YDPBEMT)(D'7@'Z?RJ/Q+:RWOQ!LK6&8PM+;;2Z]0I#[L>^ M,UL6WAR]N]1AOM?ODNF@^:*")=L:-Z^]376AW,WC2SUE9(1;P0E&4D[R<..! MC'\0[T`9'BKP]INE>#YA;0G=%('1W8E@6*!OS"BMCPY9:=IF@VU^D,<#/9H\ M\OJ-H))_G5_7=+76=(GL6D,?F`8<#."""/Y5EZ+HFJQ6$^GZQ?17%FT/D11Q M#!5<8ZX!Z?6@#$AMK#5(Y)K'PG)<6A:YIMM_9T.IVRV*D[9!$3*H))('8=>O--T+PU>:;X M9U+39I8&FNA($9&)4;DVC.1GK[4`9WA'PSIVJ^'8+C4$DG=BX0&1E$8W'@`' MUR?QH\&VZ30:[HUR//L[:8!$?ZM_5`?K72^&-,FT?0X+*Y:-I8RQ)C)*\L3W M`]:J>'="N=+U#5Y[EX7COI0Z",DD#+GG(']X=*`,7X<:997&EO>S6Z/8T93YV[8Z<<`<@]NE:MG9:K%XANK MFXO$?3G3$,`8DJWR\XQCLW?O0!L4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`$"6=M'=/=);PK<. M,-*$`=AQP3U/0?E4]%%`!1110`4444`%1SP0W,1BGB26,]4=0P/X&I**`(X( M(;:(16\211CHB*%`_`5)110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`5!:V=M91E+2WA@0G)6)`H)]<"IZ*`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BN>GTS6'GD:.\8(6)4>W1V"BBBI+"BBB@`HHHH`****`"BBL75M3N+34X+>(KL=5) MR,GEB*J$'-V1%2HJ:NS:HHHJ2PHHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`KF=*_Y&>Y_WI/YUTUE\,O0Y<1\D_G3H.RD_(G$J\H+S(-0TJ[TY!=K< MER"-S#((KH-)NFO-.BF?[_(;W(J+Q!_R!;C_`(#_`.A"F>&_^02G^\W\Z]Q4X*G7Y([-7_$YS3)KE6D@LP?.G`4,/X1WK;C$VA:9-).ZR32,-N"3S MCO53PHH-U.Q'(0`'ZFKWBF)WL$=1D(^6_$5K4DG5Y.AA1BXT/:)ZJ]BG:Z3< MZK$+J\NF&_E1C/X^U+;3W6CZFEIV>X]/I1IMA/>6B/#J\R`#!C& M?D]OO4Z;1?-N$CFUG:VP*$E%3A'7O=:_B2ZU?W#WB M:=9-M=L!F!P>>V>W%1/X=GBC,L-XQN`,]",_CFJFIQ-%XA;?.UN)"")1V!&/ M_K5I_P!CW>W=_;4^WKGG'_H5*ZA&-G;Y#LZLYUB30-1DO(7BG.9HN_ MJ/\`&M*YA%Q;20MT=2M9>BZ;';3R7,5Z+D,"APO?(YZGT_6MFN>KRJ=XG904 MG32GN<[X6E*/2+EESD-,21;MFU.HJDG5>T5_PYG'P[<3_--W3FJ6HVT5KJ\$44TDF"N= M[9V\]*TB^9N$G?Y&,H\L54BK;=2SJZ'3M;AO4'R.=Q^O1A^7\ZWKRZ6WL9+@ M$$*F5]SVJMKUI]JTU]HR\?SK^'7]*P)]0:XT>VLEYD#[6'J!]W^?Z5G&/M8Q M?;1FTI^PE-=]5ZE[P]$T-I=:@REGP=OJ<#S[*?8&Y&WYE_P#K4*JG*3>GF$J$E&*6 MMMU#G^E;U9RERQ;T=CEH4X MQYY16J;L8D,=_K\CR/-Y-N#C`Z?0#O1C.N*=6BE+JC,\/7/VC3$4GYHCL/T[?I69&+8K;R73_>E.`3Z#_Z_\JW:Y'*HNNWS M.6,G54:3Z;_(9JU_<0V=N,98CUJYI1^V^(I;J($1KN;/U M&!_C1XA(76[5CP`B\_\``C6D?=JV75&,_?H7EK9V3\C0T[2UT@S7#W'F+LY^ M3&`.?6LZ%+OQ!/([3&&V0XVCI],=S6]J*&>PGBC(+M&=H'>N:T6VDNE>.+49 M+9P<^6N?F]^HK.FW)2FWJ:U8J,HTHKW>U]R:ZMKO072>".9/NNH(]JP[K2'$86[UE]C$8$@."?Q:MC3[;['91V_F>9LS\V,9R@;GZ[&9I.D?V;)(WG^;O`&-F,?K6BZ+(C(ZAE88(/0TZ MBB4G)W>X0A&$>6*T,.;PU$9"UO1]UAU%9?_",C.W[8_E_W=O_`->M^BE&K.*L MF.="G-WDBM8V,%A#Y<"D9Y+'JQ]ZLT45#;;NS1)15D9VK:4NI",^;Y3)GG;G M(/XU;M8%M;6.!3D(H&?7WJ:BFYMQY>A*IQ4G-+5F1!H4<.I_;/.RNXL(]O0G MWS6G/#'<0O#*NY'&"*DHIRG*3NV*-.$$TEN8:^'?+<^3?31QGJH')_'/]*63 MP[%Y\,D4Q01XR"NXN0VJ=R/JU+L5+K4+2UD$5Q*$8KNP03Q7/:) M:)'I.7-RZB````#`%+1161N96JZ M,NHRI*)?*91@_)G/IW%:-O"MO!'"GW44`5)15.HK*7PM'ORUTQ3T"8/YYKH**J-6<59,B="G-WDM2O9V<%E#Y4"; M5ZD]R?>J^J:5%J00LQ1TZ,!G\ZT**E3DGS)ZENG%QY6M#,TK1UTUW?SC(S#' MW<"F7V@6UU*98V:"0G)VC@GUQ6M15>UGSC_P#?!K14IOH9.M33LY(U:*RO^$AT_P#YZ/\`]\&C_A(=/_YZ/_WP M:/93["]O2_F7WFK165_PD.G_`//1_P#O@T?\)#I__/1_^^#1[*?8/;TOYE]Y MJT5G0:Y83RB-9BK'@;E(%:-3*+CNC2,XSUB[A1114E!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`445#3L:E%8O_``D]E_SRN/\`OE?\:/\`A)[+_GER_YY7'_?*_XT?\)/9?\`/*X_[Y7_`!H]C4[!]9H_S&U16+_PD]E_ MSRN/^^5_QJ6W\06,\@0EXB>`9``/T-#HU%T!8BDW92-6BDI:R-PHHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"J]^Q33[EE)#")B".W!JQ5; M4?\`D&W7_7%_Y&JCNB9_"S@J***]D^9+-G:K=%D-Q'%)QL#\!OQ[5%/#);S- M%,I5U."#4=:5\3<:99W+>>N%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!7,>+';[1`F?E"DX]\UT]\D\NWC+L.3Z"M6+PS=-_K)HD^F37H2J0CNSR(4 M:E36*,.BNB'A8][P?]^__KTO_"*_]/O_`)"_^O4?6*?2)-"=DU>#:<;B0 M?<8KMJX?1?\`D+VW^]_2NXKCQ?QH]++_`.&_4****Y#O"BBB@`HHHH`****` M"BBB@`HHHH`****`*NINT>FW#H<,(S@^E<'7=:O_`,@JY_ZYFN'52[!5!+,< M`#N:]#"?"SRS('C5"/]\<4__A'M0_YYI_WV*W]K#NK_ M`"LRJ*U?^$>U#_GFG_?8H_X1[4/^>:?]]BCVL.X_J]7^5F516C-HM[`NYT3G M@`,"3]!6=5QDI;,SG"4/B5CN='=GTJV9B2=F,FKM4=%_Y!%M_N_UJ]7D3^)G MT5/X%Z!1114%A1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`56U'_D M&W7_`%Q?^1JS5;4?^0;=?]<7_D:J/Q(F?PLX*BBBO9/F3:T/1TOD,]P3Y0.` MH.-Q_P`*U_[+LS,;3R?W`7S`NX_>/&KVR7SS+M M.XKM^Z,8SG^]7FU:DG-ZGMT*,%3B[;G-ZYI"V`6:`DPL<$'DJ:QZZSQ"9#I; M[UXW+_"/7ZFN3KLH2HHHKSSUPHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*Y M?Q7_`,?<'_7/^M=17+^*_P#C[@_ZY_UKHPW\1')C?X+)/"TL,4=QYDB(Q*_> M.,CFM2ZU>RBB?;9]SGMZUE[25K6 M1T^QAS*3;T]2EIFJQI!Y-_.4N58AA(,?2C7;FWET>4)-&Y8KM"L#GYA_]>KE M_IMO?IB5<./NN.HKD-1L9-/N?)D8-D;E([C_`"*TI1A4E=:/L8UYU*5-Q:NM MK_YC]%_Y"]M_O?TKN*X?1?\`D+VW^]_2NXI8OXT/+_X;]0HHHKD.\****`"B MBB@`HHHH`****`"BBB@`HHHH`IZO_P`@JY_ZYFN-L?\`C_M_^NJ_S%=EJ_\` MR"KG_KF:XVQ_X_[?_KJO\Q7?AO@D>5C?XL3MY8"7\V%O+E[^C?4?UZTL-P'; MRY%\N4#)0]_<'N*E)`!)(`'4FJ<@-^`$RD2G(EQAB?\`9]/K7$M=STGIL7:@ MDG._RH5WR]_1?J?Z4SR[MOW32*$_YZC[Y'ICH#[_`*4V$_8E$4H'EY^64=S_ M`+7O[]Z:0.3)$@"!I';S)2#ES_(>@K@:]$?[C?2O.ZZ\([\QYN8*W+\_T.XT M7_D$6W^[_6KU4=%_Y!%M_N_UJ]7)/XF>C2^"/H%%%%0:!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`56U'_D&W7_`%Q?^1JS5;4?^0;=?]<7_D:J M/Q(F?PLX*BBBO9/F3LO#I_XD\7L6_F:U*Y;P[J<=L6MIVVHYW*QZ`^AKI]Z[ M=VX;>N<\5Y5>+C-W/H,--3I*W0R_$A`TE\]W7^=!@T<9R6' M0GVK$KNP\7&&IY6,FIU=.@5W&B_\@BV_W?ZUP]=QHO\`R"+;_=_K6>+^%&V7 M_&_0O4445YYZX4444`%%%%`!1110`4444`%%%%`!1110`4444`%F,5U.U(_YZJ/UKO*\[C=HY%= M#AE((/H:N_VQJ'_/T_Z5U5Z+J--'!A<3&C%J2.E$#>9>G^SU^=3@^8/WWL?2 MFM;N8[(?V:AV$Y'FC]SR.GK_`/6KG/[8U#_GZ?\`2C^V-0_Y^G_2L_83\OQ- MOK=+L_P[W.WKDO%'_(37_KD/YFJO]L:A_P`_3_I56XN9KJ3S)Y"[8QD^E51H M2IRNV1B<7"K#E299T7_D+VW^]_2NXKA]%_Y"]M_O?TKN*RQ?QHZ,O_AOU"BB MBN0[PHHHH`****`"BBB@`HHHH`****`"BBB@"GJ__(*N?^N9KBK618KJ&1ON MHZL?H#7:ZO\`\@JY_P"N9KA:[\*KP9Y./=JD6=>NIV5P0]S7/XF>[2^"/H%%%%0:!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`5#=Q&:TFB7`9XV49]QBIJ*:=M1- M75CSR6-X9&CD4HZG!!%,KT-XHY/]9&C8_O*#3/LMO_SPB_[X%=JQ?='F/+M= M)'G]+N.W;D[>N,\5W_V6W_YX1?\`?`H^RV__`#PB_P"^!3^MKL+^SW_,>?T5 MZ!]EM_\`GA%_WP*/LMO_`,\(O^^!1];78/[.?\QP4<;RN$C4L['``&2:[K3X M&M;&&%OO(N#]:F2&.,YCC1?]U0*?6%:O[32QU8?#*BV[W84445SG6%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!6!XGLI9A%<1*7"`JP`R0/6M^BKIS< M) MH!^M;T:SIZ6.7$895K.]F>=45Z)L7^Z/RHV+_='Y5O\`7/(Y?[._O?A_P3SN MBO1-B_W1^5&Q?[H_*CZYY!_9W][\/^">=T^**2:01Q(7<]`!7H.Q?[H_*E"@ M=`!1]<\@67=Y?@5]/MVM;&&%CED7!QZU9HHKB;N[GII)*R"BBBD,****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HK+U'7;2PN/LVR>YN=N[R M+:(R.![@=/QJ73=8L]3,J6[.LL1Q)%*A1T^H-`%^BBL\ZH@UY=*\MMYMOM'F M9XQNVXH`T**JZ?>?;[1;C[-<6VXD>7<)L<8]15J@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHK.UK6(=&MHIIX9YA+*(42!0S%B"1P M2/2@#1HK'L?$=K=W26TMM>64TF?+2[A,>_'H>E6=*U2/5%NFBC=/L]P]NV[' M)7&2/;F@"_1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`45#>7*6=E/=2!BD$;2,%ZD`9./RJOI&JVNL6"WEHS>6Q((8892.QH`O45 MEZ3KMGK%S>0V?F-]D8*[D`*V<_=YY^Z:U*`"BL:^\0)9:3=:A)972+;R^44E M387Y`W+ZKSU]JV:`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`YOPTZPZKK-O=,HOFNVD&>K1$#9CU'6B9H[CQU:&S9 M6>"V<7;*,X4XV*3ZYYQ6MJ.CZ=J@'VZTCF(&`Q&&`]B.:EL=/M-.B,5E;QP( M3DA%QD^_K0!PFEZ3!-X!.H-).+F!)9(669E$94MT`./7GKS6MI<[W7BW3KB4 MYDET1'8^I+9-=!#I%C;Z6VFQ0;;-E93'O8\-G/.<]SWI8-*LK:YAN(8=LL-N M+9&WL<1CHO7]>M`'"6B>9X2\-Q[F7=JBC)[NVT[S7B;36N M1`\C/ND#$#DDGG'ZUNQZ%IL5K:VR6V(;2430KO;Y7!)SG//)/6K)L+8ZB-0, M?^E"+R1)N/W,YQCIUH`XFU@NKO04O(+.]DOW7S%OS>1@;_H7X7MMQ^%=U:M* M]K"UPGES%%,B9!VMCD<>]46\/:0UP9FL(M['<1@[2?4KT)]\5I=.E`"T444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!7,^.6D2STMXH_-D748BJ;M MNXX;`SVS7356O;"VOQ"+J/S!#*LT?S$8<=#Q]:`,0V^K:U?6,E_I\>G06(KMWF$MM>7+Q%)64(RJ#G`/)Z=:[^J46E64 M5K=VT<.(;MG>==[?.6&&YSQD>E`'-QW$NJ76A6>H3R);3V(G;;)L^T2X`VG' M/`YQWS5D1)I7B>"QTYW^SSVTC3V_F;EAVCY6`/3)XP*VI-(L);&&REM4>WA` M$:-SLP,#!//XTZRTJQT]7%I;K&9!AVY+-]6/)H`X*&S6W^'D.KPRSI>P',3B M5@%'G;W][=USGKSUIU[I%A?F-KJV61X^$?)#*/3(YQ0!5\, M+?QZ?)%J".OES,L)>178Q]LD$\CD?A6Q4-K:P65NL%K"D,2]$08`J:@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`S_$'_(O:G_UZ2_^@&N5LM$OQIE@ MVD2"&WU&VC2]P?N?+]]?)U:-TLX4MXPD1(8Y4C@^I)Z_C2W,$FDZCI$ M\%C]A:>\2%PMVTHE1N#N'K[\_6NK.DV)DO)&MU9KT*+C<20^T8'!X'X57C\- MZ1&8"EF`8)%DC)=B58=.<]!Z=*`./O/^1-\1?]A5_P#T)*]%K-?0M->RN;1K M;,%S*9I4WM\SD@YSG(Z#I6E0`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!17.17NHC29M4DNPRP32YA\H8=%D(P>^[ M`P,>V0:D;4+R$ZQ=R3!K:PD8)"$&6Q$K8)],G/XT`;]%90:]M;NWAN+OSA=A MER(P/*<+GY<#[O!ZYYQS5>SN[[4!A#_\`?-01:W.UU9R2#9:FW_TC@?+* M06Z]L;"/3YA0!T-,$D9E,0=?,"ABF>0#G!QZ<'\JYE-8O7C9))IX;F&-6*1V M;3!G9=VUBJD8&0."#QUJQ$;F\U]I(I&M/,TZ%W!0%U)>0XP>G?/%`'0T5DQZ MK)'H-U?3('DM?.5@O`^TZRDN)KM;EV"J$,0"J[$*,8YVY/ M?)]Z`-:BLF26[L;F*.6Y^T)-E=3R&4Y!I20!DG`KGH)+BVN8I(E:"WO=1^6)TP=GDG/!^[E MESV/YFHM:EN+J#4H3`?*..1_>;/X>G%`'3T5B-_:$FL/8QZB MR1Q6DW MXT`;U%='S7"LK M7?V9HEC`!'F&/=GKG(SUQVH`Z&BBB@`HHHH`*CEGBAV>;*D>]@J[F`W$]`/4 MU)6/XAAB:.SF:-#*EY;A7*C*@RKD`T`;%0PW5O.[I#/%(\9PZHX)4^^.E4KF M^BN8KVUQ=6Y6*0&=X&5%P,;@Q&#ZBLRQD8W>DF73_P"SDCC95(S*,M&'&X#Z=:7[3!]H^S^?'YV,^7O&['TZUS%E MDV^F1&T,<2W(=+\[<2\D@@#D%\X.0!\QYZ9:6<6[QBVE`'75#%=6\\CQPSQ2/&<.J."5^H'2H([Z*YN9;3R+I2NX,SP.J'' M'#$8/X53CMX)=7MELHDC@T]61W0`#)&/+'KCJ?0@4`::75O),T,<\32I]Y%< M%E^HIT4\4^_R94DV-M;8P.T^A]^160]M;S:G:6ME&J)8.7F91P,H0$SW)W9/ MT&>HJ+39X-+.IJEM+Y0OMJI;0%]O[J/LHX%`&W<7,%K'YES-'"F<;I'"C/U- M/+H(_,++LQG=GC'KFLFW9;S7YFE0[8[2)HDD7!7>7W'!Z'Y5!^E9LKO$8K&. MW\RW_M-D2/=PRB,OCV`?MZ+^%`'2Q7,$\1EAFCDC'5T8$?G49O[,6S7)NX!` MAPTOF#:#TY.<5DW9DN[2YMA9+%(B( MK5XH'M,N9$V%F#C'RGGH3R:`-&UU&RO69;2\M[AE&2(I58@?@:M5E:0JW%U> M:B%`$K^3$<8_=H2,_BQ8_3%:M`!1110`4444`%%%%`!1110`A(4$D@`>>Q&*`-ZD)`&2<`5SUS?7T4>KW@NOW5A,=D/EKAE"(Q!/7N<5:DFN[R34?) MG6%+1O*5"@(D.P,2QZ@?-CC'2@#6CD26-9(W5THY7ICJ<=,;$=U/_:FH0&3< MD%O$Z#`X8^9D_P#CH_*@#3HKG=,O-2O[JS0W06)M.M[B4^6I+.Q;./3./PQQ M1;7U\+6"]ENO,1[UK6H&TS&,'/7(X_+\:`.A)`&2<"FF2,2B(NOF%2P3/ M)`QDX].1^=97BF-Y-'`29XB+B#)4`Y_>J.X/<@_AZ9%17$%P?$%E$EVZR"RE MW3%%+'YX^V,9Z=J`-VBN;_MN:2.SA>22)Y!-YDT%N96_=OLX4`XR>!C(!Q]:T(K"",78(+K=R%Y%? MDP.!GN>G4FF/H% MB]G=6I63RKJXN(73RPDLF0J^@Q@]NIR?>M"B@"C#ID<9"CHH!X(;;G/_`'R*L44`5[RT MCO(E1V="C!T=#AE8=Q55=%MQ#=1M)-)]JD61W=@6#*%P1Q_L@_\`UN*TJ*`* ML%BD-VUT99))6A6$ER.0I8@\`<_,:K0Z)#;QVZV]Q<0M!$L.]&7,B#H&R/<] M,=:TZ*`,ZST>WLWMVC>4FW$H3>V<^8P9L\<\CC^M.&DVXLX[4-)L2X^T`Y&= MWF>9CITS^E7Z*`"BBB@`HHHH`*KWEI'>1QI(6`25)1M/=6##\,BK%%`#)(TE MC>.10R."K*>A!ZBJ<.E11RQO)//.(CF))6!$?&..,G@GDYZU?HH`SH=(AB:( M"6=H(2#%`S#8A'3'&>.V2<8%#Z/`S,OFS+;NQ=[<,/+8DY.>,\G/&<XSWK.T_1CIZQI%J5Z\2`@1OY>#GN2$!)R<]>M:E%` M&78:,;`KY>I7KQABQCD\LAR>N2$!/YU/;"BK% M%`%2[L$N9%E6::WF4;1)$0"5]#D$$?A3/[*MA:1VZAD$;^8CAOG#\Y;/JHH`I0Z9G^G;L*O7$\= MM`\TK;8T&6/6J,FM0PV]U+/!<0FVC,K1N@#,G/(YP>GKQWQ0`S4M.EGDA:". M-C&H7)GDB;'H2GWA[&ETW1HK%+/YOWELDB@(-J?O&#-@=AD<<]*FBU2!Y)$E M26W*1^;F9=H9.[#GI]>:K76KN=*O;B"WN(6BMGFB>:/"MA<@]>/H<'VH`OV= MI'9QR)&6(>5Y3N/=F+'\,FJ;:'`6`$]PL2SBX6$,-BN'WD],X)[9^F*E?4UC M*QK#/<2A%>00J#L![G)'H>!S2'5X"T8MXYKG?&)3Y2@[$.0"02#U!&!D\=*` M%ETFWEM;^W9I`E\Q:0@C()4+QQZ*.N:+C2H9YI9/,FB$XQ,D;8$G&.??'&1C MI2W>IQ6LC(8IY?+7?*8DW"->>3^709/M1+JD,:(=6@FF1!',LW<`'MFLZ'6[B71]1NIK>6V-LTNURB ML,*Q`&`W)&.>0,]#0!I6.EP6+HT32$I;1VPW$?=3.#TZ_,"XNHF@N6%H1Y\BH-B`J&W9SR,'MS[8YJ:?4XH MIS$L4\Q10TC1)D1@YP3Z].@R?:@">\M8[VV:"7.UB#E3@@@@@CW!`-,2Q1;N M&Z:6226*%H06(^8,5))P.ORBG6-W'?V,%W$&$W7&/>@!@T:!($2*6:*2-Y'29"-Z[V+,.1C&3T([#TJ[!$(8 MEC#N^/XG;)/XU5@U-9;I+>2VN+=Y`3&94`#XZXP3@^QP:KVNOVMU8K>1Q7(A M?:$)CY=FXVCGDYZ]O?@T`:U%95EJ,MUK=Q`R211QVT;^5(H#*Y9\\C.>`O0D M5JT`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`%+5[-K_`$V:V1BKM@J0Q7D$ M$1V<44%OF[5&:.ZBGV^7( MQ9B&!ZH"1QSGT%=%10!@WFER_;[B?RKFX6X"Y$-XT(5@NTY`8#'`YY/6I;>U MN=,GE2TM1+#,B!3YO^J94"X;/)7"KR,GKQ6S10!0T*VEL]$LK>X79+%"JNN0 M<$#VJK:Z;.FL7!<`62[G@P1]^3&_CKD$'G_;K9HH`P[:RO/LMCITL`2*S:,F M<2#$@3[N`.9IGB;>N'WL6`Z\$9QS7044`8ES8 M7,EMXA58\M>*1`-P^?\`?I[UJT44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`8G]KW/]R+\C_C1_:]S_`'(O MR/\`C3OL?M1]C]J`&_VO<_W(OR/^-']KW/\`E&P>E0/=C_EDI;W/`J!KV=?X4_(_P"-4H,A MS2+VP>E&P>E4XM30L%F79_M#D?\`UJN@A@"I!!Y!'>DTUN4I)[";!Z4;!Z4Z MBD,;L'I1L'I3J*`&[!Z4;!Z4ZB@!NP>E&P>E.HH`;L'I1L'I3J*`&[!Z4;!Z M4ZB@!NP>E&P>E.HH`;L'I1L'I3J*`&[!Z4;!Z4ZB@!NP>E&P>E.HH`;L'I1L M'I3J*`&[!Z4;!Z4ZB@`HHHH`****`"BBB@`HHHH`***3(SC(SZ4`+1110`44 M44`%%5YK^S@N$MYKN".>3&R-Y`&;)P,`\GGBIG=(T+R,J*.K,<`4`.HI%974 M,I#*1D$'((I:`"BF+-$TAC61#(O)4,,C\*%EC:1HUD4NOWE!Y'U%`#Z***`" MBBB@`HHID4L?]_P!O\:]RKP"N M8ZS6DOO$%J!++&=W`S^-=;X,\87-Y>)ININ)'DSY4V,'/7!_QK3\2^ M)=%?0KR%+N*XDFB9$2/YCN(X/M@\UY_X5@DN/$NG+%G*SJYQZ*N?2O$_$'_(PZG_U] MR_\`H9KU34_^1*N/^O`_^@4`7H=7TRXE6*#4;261N%1)U8GZ`&O/?%'B36++ MQ%>6]M?21PQN`J@#C@>U97@W_D:]/_WS_P"@FCQE_P`C7J'^^/\`T$4`>F^' MM7MK[3;-&OH)KQH%:1!(I?=CG(%6'UO24=D?5+)64X*FX0$'\ZX_P/X:OK.^ MMM6E>`V\L)90K'=\PXXQ7%:M_P`A:]_Z[O\`^A&@#VB\U;3[!E6[O8(689`= MP"1ZXJ>VNK>\A$UK-'-&>CQL&'YBO(=3\/:U'8?VO?(663#.2^7`/0D?E5[X M=WTMOXB2U5CY5RK!ESQD*6!_3'XT`>G75[:V:;[JYA@7UD<+_.JT>NZ1*X2/ M4[1F/0"9>?UKE?%?@^[U776O+:6"*"1%WO,Y&&''`P>P%0`X^E6(;F">`3PS1R0D9#J MP*X^M>0:QX>UBRM1J6HID3-EV+[F4G^]572EU*^)TFP>0INKK^D/-Y*ZE:F0G`'FCD^E:->':OI%YHMW]FO4"N5W*5.0P]0:]*^'M_ M+>^'=LS%FMY3$I)R2N`1_/'X4`=/1110`4444`%%%%`!1110`4444`%%%%`" M,RHK,Q`51DD]A7EZZ[&-='B'[6-S71B:VRM>DZA9IJ%A-:2221I M,NQFC(#8/7J#59M#L&T@Z;Y0$/E>5N`&\#&,YQU[T`0>)[^[T_1&O]/*L8F5 MF&W<&0G!_F#FN>E\;2I?Z@X*?8?*<6;E<;I5"\9[\G^5=8FEPKHW]EN\LL'E M&$LY&XKC'4#TK,?P=ICZ9:6#F"Y6T6XN)94RD$^7#]OM]0%I+L&4DX;IGIR*Z'5O M#MKJEPESYUQ:W2+M$UL^QBOH?:F#PKIRV,%HGG(D-PMSO#`L[C/+$CGK0!QV MM_;D\9:$=4:(W7[DOY/W0/.;`'X8JY?ZEK.L^%K_`%$/:QV#906Y4EPH(&=W MK74:CX;L]1UFUU2:2=9[;9L5&`4[6+#.1GJ?6J4_@C3)6G43WD4$QW-!'+B, M-_>`QU^M`"OJK:+X$L[U(Q(Z6L(53TR5`YJ!M2UW3+^Q@U&6UG2_S&K1(08I M,2%``.1WX%4=.\+6=C>)=-/=WZU#49C`Q::2)V"G>6RK'GIM]O6G7.HS66J^)YK=(DE MMXHF5]G).!U]:Z71](M]'@FBMGE99IFF8R$$AB`#C`''%5[CPW9W$VI2/).& MU%%27##"A>FWCV[YH`Q+36-?^V:9%1A@5"_-QSP.V*2 MT\/V-IK=QJL0?[1<##`D;5SC)`QWQ0!R@\9:C,C7L#1F,2X6R%N[,4SUW@8S M^/\`A5[5_$6HVNN&`S0V%F0AADG@9UER!G+#IC/Z5I_\(E9+>&:&ZO8(C)YI MMHIRL9;KG'_UZ74O"EGJ5X\\]S>A)2&D@6;]VY'3B@#/M1J3^.[L)=Q^2L:. MRE6.@O+81P)-)K!M\;,!@5[^^0.:ZN7P_:2:W%JJR3QS1 MJ$V(^$8#H",=/\!5=/"EBEHML);G8+W[;G375F\=_-&NQ(_F0-SCW_H:Z*?1 M83J-UJ4>7N9[8P>7*1Y1''48SV%F:);:7>W]U`\K/?2>9('((!RQXP!_>/K6E0`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`"4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`$`@@C(-8MM,()\2KG:<$>AK:K)U:U<$W,0R MN/G`Z_6M(-;,SJ)[HF-W:JKE48EAC'K4-PR`8XZ8_&L.]D6]O]L"!/.< M!0??N:9>7*22L\:>6IZ(#G%:OA_375OMMPI4X_=`^AZG_/\`A5I*FN9F3DZD MN1&_7@%>_P!>;_\`"M;W_G_M_P#OEJY#N%7X:W98;M0@`[D(375^'?"]EH`9 MXBTURXPTS]<>@'85N44`>(>(01XBU,$$?Z5*>?\`>-=Q?>+-+E\&M"LV;J2V M\GR0#E6*X/X#UJ3Q3X(?5;Y[[3YHXY9,>9')D*3TR",X_*LZP^'$_ERM?W40 M?8PB2/)&['!)P.!Z4`<_X-_Y&O3_`/?/_H)H\9?\C7J'^^/_`$$5U>A^!;K2 M]8MKV2\AD6%LE54@G@C^M6/%G@M]7O3?6,T<<[@"1),A6QQG(Z'%`&AX4UG3 M[C2=.LHKE6N1`%,0!R"HP<^G2O+-6_Y"U[_UW?\`]"-=]X2\'7VC:M]MO)H" MJH5"1DL3GZ@8JG>?#R\N;V><7T"B61G`*GC)S0!T_BK_`)%&]_ZX#^E>=>!3 MCQ=8GT\S_P!%M7J.L6#ZCHMQ8HZH\L>P,>@KF/#O@BZT?6[>_DO(9$BW955( M)RI']:`.)U+4[O7]5#7$Y"RR;8U9ODC!.!QVK=\3>$;30=(%RE_(\S,$",`` M_KC\LU>UKX>SRWLD^ESPB*1BWE2DC9GL"`/O\`D4KO_>C_`/0Q7&?#C_D9C_UP?^8KT+Q'IIC.,_A5#_A&R>MZUM'E='D,A,I!.2`.P'I2*.7US6M1TOQE+)`TLUG!`KSP!B5V M$@$@=`!+V:_P!*O)IIY9O],<(9&+$+M4@<]!STK:_LJS_M&6_,6;B6 M+R78DD%..,=.U&EZ79Z1;O!8Q>5&[F0KN)Y(`[_04`<7J.KW^C7&LZ4UQ/+- M<%6L69R6`6:.'#RLQ+,V.3D\]:+O1[&]O[>]N M(`]Q;_ZMB3QSD<=^:NNH=&1N0PP:`/._"SWMXUE//<< M8-=GXB-X-#NCI\BQW.T;&9@N.1GD]#C./>J4'@S0K>XCGBM&62-@ZGS7."#D M=ZV+VRM]0M'M;N(2PR#YE-`')>#KB6+5I;.]N-3%T80Q@NGWIVRRG_/XU:\= M07$.FRZI;:C>V[PJB"*&8JARW4@=^?T%:NE>'-+T>9YK&VV2.-I9F+$#T&>E M7-1L+;4[-[2\0O"^"RAB,X.1R/I0!7T2Q:QL0KWEU=F3#[KF3>1D#@'TKC+G M6]:LO$>K?9/-NH?,$"Q,Y*QNV=A`[<@^U>AHH1%1>`HP*JVNF6EI=75S#'ME MNF#2DL3N(SC@].IH`PO`4]Y-IUZM_<2SS1731EI'+8P!P">V2MNKB*RFV$'CG!.,<_RKL;#3;73EF%I&4$TAE?+$Y8]3S5+4O#&DZK M=FZO;9I)B`"PD8<#V!H`NZ2C)I=LKM.S;!DW#;I/^!'UKSF+Q%JEG9ZE]HFN M9+:XDEAAFWDM#*.0`>PP1^7'>O2K*TAL;2.UMEV0Q#"KDG`^IJFOA_3%T^>Q M^S9MYY#+(I8G+''(.Z%%>X)#Y!R&'>NOM;>*TMHK>!=L42A$&Z(,K;B=V.G':@#%\:+JCPV::<\OEF0^223ZDF@"Y1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% 0%`!1110`4444`%%%%`'_V3\_ ` end GRAPHIC 5 complexwideproxyonex3x1.jpg GRAPHIC begin 644 complexwideproxyonex3x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@" M*0+7`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`IDLB0QM)(P5%&23VI]5=1CAELWCN)O)1BN),@;6R-I&>,Y MQ0`D6HVTH)5I`00"KQ.KG0\'J*`.DHK)LSY[27-Q<2 MI.EP\8B$N%`#85=O0Y`!R1GYN*I:5>7D_P!FG>"Z0SQL9S+*FS.W/RKN)!!X MQ@<=>:`.CJ(SQ"Y6W+_O70NJ^J@@$_FP_.N;M9[D6.D+)]NN_MEMYTK1S!6+ M!5PN2R@#YB>#DX[\U)%]KNKVV$C-#<_8[D(Q=21B6/:25)&<`9`/K0!TM%9F MEW;:C/+QO)A?/YQNY8X_,E*J%$Q&P8Z9`QNY(SQZ M5I:9+'Y)BS*K)(8RLTF]L@9P&)RPQSZT`7J***`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`*1E#*58`@\$'O2T4`5XK*T@C,<-K#'&6#%4C`!(.0<>N>:D\B+84\I-I;> M5VC&[.<_7//UJ2B@"$VUNUP+@P1&=1@2%!N`],]:$M;=)GF2")99!AW"`,WU M/>IJ*`(9+6WEMQ;RV\3P``"-D!7`Z#'2B2V1H]L?[EPA1)(U7<@XZ9!'8<8Q MQ4U%`$-K;1VL(BCSC)8D]68G))]R233$LU%X;IY'D?!5`^,1@XR%P.^!US5F MB@"$VUNUP+@P1&=1@2%!N`],]:1[.U>?SWMH6E(`\PH"V`YJ-;*V0P;(406Y)B5%`"9&.`/8G\ZL44`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%-D=(T9Y&5$499F.`![UE3WI MNK9YS,UCIZC)N&^5Y!_L@_='OU/;'!(!8N]8M+2YBMV9I)9)%C*QKNV%C@;O M2K]8]A8++-'8N"P!QGZ'K5R@`HK,FU(OKL&F6I#.BF M:Y.,[$Q@#ZDD?@*TZ`"JM[>K:A45#+<29\J%>KG^@'VUTBWFO;R8-*W,L[C!;T4#T]%'ZDYH`JZA%]/H`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`J*YN(;2!I MKB01QKU8_P">3[5RGB/Q'=VLD:PZ==PR6]WCS'&(I5PP`!'7<.<=C4T%AKVJ MW<-[J+V]I&F'AA&YC$<=2O`+<]22!SQ0!>NITFEBDOXY-K-FVL$&7E(YW.OM MZ'@=3STL0V<]Q<"\U7RQY1W0VZG*P_[1/\3>_0=O6IK>SM=,2:X>0EV&9KF= M\L0/4]@/08%9$COXHF\F(O'I*-F1U)!N/]GZ>WYXH`Z"VN(;N!)[>021/]UA MT-2TV.-(HUCC4(B`*JJ,``=`*BGO+>VDBCFE5'F.V-3U8^U`$W2N6N)O^$NN MC9VQ;^R8'Q<2C(\UASM7U'_Z_3+]2O7\13-HVFF:&/\`Y?9V0J43^X`>=Q]^ MU6K&]CLM;_L*"T6"VBB!B/0MQDD>H[$]<_6@#;C18XUCC4*B@!5`P`!VK&UW M7!9,MA9DR:E./W:*NXH/[Q'\@?Y9-+KHGNY(K.PNYH[DC++$X544_P`;G&?H M`1G\"1;TK2;72H-D"EI#_K)GY>0^K&@"MX?TU+!9WD2L&FR^YE'4`GN>2 M2>Y)QQ@"Y?7AA9+>W427@'=F]%'_UJY_Q2Z:?K%O>I]I\Z>W>*-;9B M&DD#*4!`ZCENH_I2Z5X;F>-[SQ#=S2S2J"\7G%44`?Q%<9[\=!D]>M`&C#=V MUE));6Q?4-2?YIMF,D_[3=$`[#MV!J6VTR6:Y2]U619KE.8XD_U4/^Z#U;_: M/X8J]9P6UO;(EG'%'!C*B(`*1Z\5EZYJ4P9=/TXYNI?E9EY,61Q^/?V`SZ`@ M&W15>QM5LK*&V1F81*%W,7<-C:R7-P^V.,9)_H/4U/5*XTV*ZU&"[G9G^S MC]U&?NJQZM[G&`/2@#"N8KF\U'2;R_1HI)+O]Q;9_P!5&$9B6_VB0,^@X]:; M?7M]J+1W&GZE]E.2;>W5`_F)GF23GY5_D/XDGEM@[RGSP,FD:+>R7UZQ:2 M:XE;>$[=>@&>PSC&.IJ76M>F$$=GI4JO<2R+;FZ*_('/!"^I')/88YYP*U9= M"TZ6?S7@/**AC61EC(&<`H#@]3U'>K8L[=9895B56A1DCP,!`<9`'3L*`(=* MTV#2K)+:`$XY=S]Z1CU8GU-8FOWDP\2V-I9C%XL#20MC*L6<*0W^R%#$_05U M%5_L-O\`VA]O\L?:?*\G?D\)G./S-`$-E9C3HDCC5IY)7S/,Q&YCCEC^0&!T MR.PI^I7\>G6AF=2[LP2*->LCG[JCZFK=02VD$UU!<2)ND@W>62>%)X)QZX'Z MF@#C+FTU5?$=G>3!1<&58WN2"4BW(W[N-3C(`/WO7\12SW,#7URE[-?7<4+F M-;:5B%G<'EGX"A<]%'7!.#P*Z+Q/(T&D?:(P&D@GBD1"<;R''R_C4T=M;Z=# M)?WK"2X5"\UPPR0`.0O]U?8?J:`,/^U=) MMN;A<(A_Y8Q=53Z]S[_05=BL[:&W-O%;Q)"VI!C_;+W%W? M&)&V1HV$!/&6Q\@)[*,MR,Y-3RZ=/KLRF]E"7D9#XC.Z.S'9/1G/?V].,]'= M6%M=VHMIH_W((8*C%,$'(P1@CD4^&VAM[86]O&(8E&`J<8H`Y2:234Y9X]3U M/S=.MVQMMHO+:X=3SC!)VJ>ISC/IBBW2WGLTDNX6M;*X.Z'3XS-G%:0K;M]Z/8"&^N>O3O4\,,4$2Q0QI'&O14 M4`#\!0!B66JQ6EI':66DZK(D2!5)MBF[WRQ%6#=ZW,0(=+@MQ_>N;C)'X(#_ M`#K7HH`R!8ZO/C[3JZQ`]5M+=5_)GW?RK4AC\J%(][OL4+NQ#%3G_QVK-%%`!1110`4444`%%%%`!1110!GZO%'+#; MB1`Q^TQ;21G!WC^8R/QJ'4V-YJ-KIBC,?%Q<'_84_*OXL!^`-6]3M9+RPDAA MD\J;Y7C<]`ZD,N?;(&:JZ/;W1N+N^OX%@GN"JK&'#[$4<WD,4C2Q1AP`2H:15.,@C.">U`&A164 M99=.O(8YKY[F.0.TGG*@:)54G=\H'R\8Z=Q3;_5VCTR\DCBFMY5MI)8&E08? M:N2.ZD9<$*K%0A8$!F&.G?L#WQFUJ% MS+!<:YH)86!P4 MD`R/R)!_`U-0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%4M7L?[1L#;80AI(V8.,@JKJQ!^H!% M7:*`,F70[<+/#:Q106MU$T<\<:A>HP&7`Z]CZ_AS'J&F7NIVCQ736ZLD4BQ, MA8[G9"FX\?*,,>.>O6MJB@#)ETVXOU2+4#"(XD95:%FW,60H6[;>&;CGKUJK M_8,KVEU&^WSGM9+>.1KF67[P`SAB0HR!P,].M=!10!0OK2:0V4MOY;2VLF_8 M[%58%&0\@''WL].U&J6UQ.;.6U6)I+:?S=DCE`PV,N,@'^]Z=JOT4`58GOF5 M#-#;1MO^8),SC9CJ#M'.>WZU!?Z5#J&H6LUS##/!#'(ICE0-\S%,$`C_`&3^ M=:-%`&--HSR6<-N).+27?;[96C)7:1M9EP1]XC(]!GN*KW.GR):1VUNLD5Y+ M)O,BM)*%!`1\R-W"],XY`XXKH:*`*7V(KJEO';WY9"/P^4U2L-+N M],AMS;F"246T=O,'8JIV9PP.#_>;C'/'2MJB@##30"IF'FI^\BCP<'_6K*\I M;'IN8<9J5[*_N+X74ZV>%MWA\G+.K;F0\D@<$*>W'O6O10!2TRVFMH7$Q4;G MW+$C%EB&`-H8@$C()Z=ZNT44`%%%%`"4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`44FX=,C-+0`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`"UD^)MG]BOYB M[X_.@#KMW;AYJ9&!UX[=ZUJ@N[6.\@$4N[;O1_E/=6##]0*`,.29;"*YOM*M M3;VMO:R,\3P-"KR#!7"D`\`-DCU'X6+O5Y+29;>XN]/MKCR_.(F?"X)P%&2, MG@_-V]*U+VUCO;.:UFW".9"C;3@X(QQ3+FR$\JRI-+!*!M+Q$99))5>9"0Y;^#<#A2..NKUSIZW`"//.(MH5X]P*R#T.03^1!-,_LJ%4Q%++%()))% ME0CHXR.O M7BK-OK-Q?7$-O9O9LS"8/,N9$RA3!7!& M"X8J%/48P0HX((_2K"6*+<0W#RRR2Q(Z!G(Y#%2<@#'\(Z8H`R4O+V\U73F@ MGCA1HKA98RC,"R2(K?Q#\#VYZYXU-2N)+>!3%*D;L<#="\Q/T12":8FE0Q>2 M8998WB>1PZ[22';.02R0S1Y"2QXW`'&1R",'`[=J`, MR'5[J]DM8;588VE$X=Y$8A3$ZKD+D'!R>#BI;;4Y]0(AM?)CG12TID4LHP[) M@`$=2CL;**PM_(A+E-[/\[9.68L>?J:C&G*LN8[FXCBW;C"C` M*3G/7&X<]@<4`9>G75S:Q/*YB-LVHRP[<$OEIRH.:6XP\QQ&`DI4]QDG(/7U-:?\`9EO]G\C+[/M/VGKSO\SS/RS^E-&E0I$J MPRRPR(TC)*A&Y=[;F'(((SV(["@#+2XFU75M-DCEMC`;>20HT9D73S0!%#?SZ@S-8&%8XPA;S58EBRAL#!&.&7GGKTIAU64:;)<^6F];W[/ MCG&WS_+S]<<_6KHIM'AFESS7VE0LDL9EE\F299O+&W"N'#DCC/+ M#G)/MBIELH5OWO1N\UT"')X`]0/4\9^@]*`,RP\0PW=S:JMS:2"[)"0Q/F2+ MY2PW<^@.>!@X'-6KB-+W53:W,>^WC@$FQN4=F8CD=\!?_'JGM;!;5@(IYO)0 M8C@)&Q!Z#C./8D@=J?=6:W+*XDDAF0$++&1N`/4<@@C@<$'I0!A:J9K9;NQL MG6*$&U8!E+!1)*490,C`X!Q[GIG(CO4GM;F]#"RD@LM-$BP_9BJ\B0$+\WRY MV\]>./<[C:9`]NT3M(Y>1)7D9OF9E8,,]OX1P*6YTV"Z:Z,A?-U;_9WP?X?F MZ>_SF@");JYN;B6.S\A5M]JR>8K'E2P6**`(M)N[J]CEFF6)(Q+)&@3))VN5R3VZ=/_P!5 M:%0VEK'9P&*+=MWN_P`Q[LQ8_J34U`!117)>)/&,=@[6MALEGQAY,Y5#_4T` M=3--%`F^:18U'=B`*Q;[Q?I5ID"8S,.T>#FO,K_5+S4)=]WI5DX!SB@"\]S< MJX874^?4N:NV/BC5K!AMN#(O]V3YA69DL!NQZ9%1."&P1UH`]&T7QM9W[I!= MH;:9N-Q/R$_7M74@@@$$$'IBO$EB)!-=+X:\13Z7((;IGEM&XP3DQ^X]O:@# MTFBFHZR(KH0RL,@CN*=0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`45%<7$5M&7F<**P[KQ.B$BWMR_NS8H`Z&BN*EU_4)G^6;R@.R@5 M7;6+\#_C]E_#%`'>T5P<7B+44R#<,P[$J#_2K,?BR[4?,L3GW&*`.SHKEH?& M488"YM64'^)&S^E;]CJ%KJ$7F6LJR#N.X^HH`M4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`"U'//%;PM+/*D4:_>=V"@?4F MI*RO$C%=(+*A2R>WLY5"R%&:1N""=I(PNT]?[Q_%OBN>4VUU:I*4B?3IY6"@9)4H! MU'3#$?C0!T5%8\HO%U*VL$U"7#6\LK2LD9=BK(!_#C^(CIT]^:@74KB]L;2: MW>X$[6Z3RQVZQD+N'!;?_#D'@<\4`;]%"$*"&9E< ME22,X^4=.:TK6:XBU*.UGG,_GP-,"55=A4J"!@=/F[Y/'6@#1#H79`REU`)7 M/(!Z?R/Y4ZN=U&XFMM3U&2V<)*4LD#%<@!IG4\?0FIYKRZL[FXA:2Q."01@4+ M=ZA-`K9N4@C=U>9;?;(P&"K;''3&0<#.1Q@=`#>HK"A5Y/$<]Q'>2%/L,+@( M$V."9,=LX[\'OUQ45C.XQ4EE=:AJ%V86N'M=EK'(0(`K%R\B MYPX)`(0''7W%`&_17-Z1+-J&L+?&>2,RZ?;RM$H7: M?LQ)Y)ITKL\A=CG)S0D;..!G-`$9HY[58^SL/O#%/2T9N@SGI0!65<\'@U+& MGSY'7Z5>BTYW;;C)-6!IK:+JL.KV*W$6`W1US]TT`:%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!65JNLQ60*1D-+^@J+6M96U#00',N.6'\-]68K<*`,5-Y>!0!G/`1GWJ%XV'X5HR)S MQ5=T/YT`9DFX&H#GGG!K0G3(JC+'WH`B\QE[_K4EI>SV5PLD,A5@?6H67N*C M.<4`>IZ1JT&J6X:-L2`#)$U("UN2$ MNE'!S_K/_KT`=%1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`M13P17,?ES)O31G8*2"1DDD\@=?2H_[ M)LO+BC$)5(D$:A79QS5VB@"FNF6:P20K`!')`MNRY/,:@@+^3'\ MZG^SQ>>D^P>8B&-6]%)!(_\`'1^52T4`5I;&VFD=Y(@S2>7N.3SL;/YU-10!4.G6AM(K41;8H0!&%8J4P,<,#D''?- M#Z;:R1JC*^%[B5PQSURP.3GWJW10!7:RMVFCEV%6C78NQBHV^A`."/8]*(K* MWA^S^7$%^SQF*+D_*AQQ_P".C\JL44`4VTNT9%41LFUF8-'(R,"S;F^8$'!) MSC.*EBM((93+'&%B@"I'IMK$8/*C*>0GEH%=@-O8$9^ M8?7-.MK&WM79XD8,PQEG9L#T&3P/8<59HH`****`$HHHH`****`"BBB@`HHH MH`****`"O+_&5^USXAF0G,<"^6H_G^M>F7$JP022N0%12Q)[8KQZ19=3U([0 M6FGTTV&,#Y`:MPV45C;)!$.@Y/K[U8C7@9Q0! M6FTZWD`_=CGVIJ:1!$H!J4BFX)/ M!H`A,*CH*K319!R/I6@P(Z\U7N/N],4`8EQ#@Y`P?YU2EB``.,BM>89/K6=> M?+T_*@#'F5D?(./0U+%.0,R*,C^(47"G`]NWI5897C)VF@"Y*JSQZ&L&-N=N<8Z5+N'WB>>]`'M2L&4,#D$9!I:QO"=Z;[0 MH78Y:,F,_AT_3%;-`!1110`4444`%%%%`!1110`4444`%9VKZA]CAV1D"5QQ M[#UK08A5)/05>,U$HX-`$17GBE1Y()%GMW*R(<\=C3F'--*E?F'XT M`>F^'=836=.27($R_+*OH?7Z5JUY1HNIR:1J`N8@2AXD3/WA7J5M/'=6\<\3 M;HY%#*?8T`2T444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`M M%%%`!1110`4444`%%5KR_M;",/=W$<*GIN/)^@[U2.O0K-;JUK=I%<2"*.9X MMJECTZG//TH`UJ***`"BBB@`HHHH`****`"BBB@`HHHH`2BEHH`2BEHH`2BB MB@`HHHH`****`.<\9WRPZ=]E!^:7EO\`='_UZYKPO:!Y)[MOX1\OXU8\=7`; M41%QPH`]^_\`6K.BQ?9])8G_`):8(^E`$CL6-`#2V3UIIDVGIFGJGRTACSWH`89C[WX5.\1)R#3" MA''`H`S9CCM6;=_-UY%;,\>/2J%S;;TRGWASB@##F)+8[U78<9Z'TJS<##$- MD$5`2&&#P1^M`$8.PY[5*Q'S'UJ,8;Y3^=*ARVT]<8H`]#^'DA^PW478.&'X MC_ZU=?7$_#F3(O4]D/\`.NVH`****`"BBB@`HHHH`****`"BBB@"GJLQ@T^5 M@.2-H_&N.`\VY+=EZ5U6O-BR51_$X%I/2K;#GIFJ M\JDT`9TP`!JNBXS5B<$MC%,(`2@"N:#TH;C-,)/>@!K<'/KVKM/`VJ%TDTV0 M\IEXOIW%<<5RO7FM'PK*8?$%J03RQ0_B#0!ZA1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`"T444`%%%9U[J#BGX56\1- MNFTF`#+27T;?0+EB?TK:K#A/]I>)Y)@`UMIR&)&[>T^WOVLKJ;[-,,;?.&U7'JK=#0!IT5`;NV";S<1!/[Q<8K,G\5: M3'*L,-Q]KG@QW-5M-FU6Z ME,UY!#:6Q!V0\M)[%CT'TH`TZ***`"BBB@!*6BDH`****`"BBB@`HHHH`\Q\ M3,;GQ.4(XWA!74:@L6G1Q0MC8JX/Y5CWEFS>/D5P=C.'Y],9_I6IJ2K?%P2" M0A8T`9"7T3N2,XSQ6C:W$GVQBRZ<^M61IBJP>VD4G^[F@"V5X' M-0S1C>I-0M>"%O)F!60'H:M2CS8@5[T`599TA!."<>E9MQK0B&1"6)[5EU:WB4'R[5NV\@_E62,K(/<4`6$&P`'FIUZ5!N"@D]*@EUBTA4@ MOS]*`-$@!,T7!8CC M-8]]=``H3S0!--J4,9JJ=5C?[HX^E10:?YC+OY8\A!UQ[FEF%C;_`"M+#N]% MRV*`&R72R=CGUJ)WR:1;JVY_<1N#QNW,#4;L!DH,@\CGI0`X\TW;VIH\TC.T M#ZFF_O`<;QGV%`#G..AYJ?29O)U:TE/:9<_G5*6-T.X,3WP>]+%YBNC]U(., MT`>ST4R%B\*.>-R@T^@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`%HHHH`ANYC;V<\RKN,<;.!ZX&:JZ':):Z;$P;?+,HEED/)=B,DU?(R,'I6 M0-/O=-W?V7(DD&5CLAC'5W/0"L%M:M/#MI%IMN&O M;XG][LY`E;J6/U/0C>%[G M4+/?,ZI$K.Z3+G?<$]\G[J_AD_E0!-I3Z_XAU":&YO6CL4<> M37=UR&D:;XAATRV2(PV/V0#;;DAOM!SEBY'3/:NHN[AK:PFN/+W-%$S[!SD@ M9Q0!'J&I6NG(#<2?.WW(E&YY#Z*HY-9GV#4M9!?49Y+"V/*6UN^'^KM_05F: M+?1RAKZWC?5=8G4;V48CMP?X-QX4#VR36M;6^MP:I!-/N)?+M] M/MR5FOW,0G1SZ9&/+E7?YS??8>Y/\JT+.T@L;2.UMHPD,8PJBN$@DU`V;:7H]TE MP+HR@VQ&#:IO(R'SP#Z'UXH`W[1#K^M'4)!G3[-BEJI^[*_>3W`Z"N@EECAC M+RR+&@ZLQP*YB"R\36EQ`]N+`6\5!))M+;%+;5ZG`Z"LE_$*M<6]K:VDMQ=R!3 M-$AXMP?[[=`1Z>U)-/J>J'R;.*33[9OO7,H`D(]%3M]36AIVG6NF6P@LX@B9 MRQZECZD]S0!;HHHH`*2EHH`2BBB@`HHHH`****`,C4-/!U:#41C]TC*W/7@X MKF1?/9W;LXW`@K@]/:NUOAFU<&N%N;4SD;>H-`",LTD,DK2NLVW**5Z_2DTW M^UO,_>%FBW\[\8VXXQ[]:UH4R`TB,#/%`&,FEZF9F:)ST^4F3@<_K6@L=W"0)/F'0XK1WE!@ M/S4(%4L.I`]*TM42".PG\M?FRH'MS0!U'PZD MWV-XHSCS%;\Q_P#6KL*XGX:%OLEZ,?*'7GWP:[:@`HHHH`****`"BBB@`HHH MH`****`,KQ'"TFF[T(_=,'/TZ?UKG4N%D5>1D5V=Q$LUO)$_W74@UY[_`&8) M7+>:"%;D8YXH`OW#^;B,$X;BJ,R:?;J3)E\<=>*GEMY(8R8ST'R\]ZJVFFO( MY68-(Q&,GM]*`*CZM;QSE%M"I'&&%6[34`S$^7L5>6(Z`>XIAT#[/*9Y&=V/ M/S'^O>II-.46+E5*2,P'RGK[4`7[B6XDLUD@2.-6&?WG)QZ\5REVSF60.RAQ MSP>OTKL+H,+?:O`"XKD+N$LYS]\4`:5I`9T7I'44`9[<#!ZU$WWA5FYZ^H[&JS9QF@"5T^4$B MJLYP`?2K5Q,H@!')&,U4GPT>10!ZIX;N#=:#9R,22$VDGO@X_I6G6!X(S_PC MD.?[SX_.M^@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`%HHHH` M****`$KE]2GN?$MS_9VFDIIR-_I-V/NOCJB^O^>W6SJC:CJ]XVF6B36EFO%Q M=,A4N/[L>>OU_P`G:M;:&SMH[>WC$<48PJCH!0!AV_A.*"6:,7DIL)7#M;`8 M+$`#YGZD<=*Z$`*````.`!2T4`%)2T4`-1%1=J*%'H!BG444`%136T,\D4DL M89X6WQD]5.,?R-2T4`%5+#3+/349+.W2(.=S$]`#8(QNW`=*M2#(&33;0Q.73>N MY>HSTI9G6-0Q.1[#)H`6&18W^[FIUE61F4C!%4$O+:X)6)OG'56!4_D:CEDD M@F20_=;AO:@#1*#)XI#M`QC%.1@Z`TK@;1S0!"RU5G.*M,QZ>E5)S0!3F/?O MTK+NXBS,1@Y[5IR55F4'GO0!'HML5/W,H'Y"NSKC_AM_R";D>DW]*[ M"@`HHHH`****`"BBB@`HHHH`****`"N0O+9+?4KSRS@,P.WMR,UU]YY_K6C110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`"T444`%%9<.HLLM^)LOY=V(840#080`75]I M;!P<=!USCD5:M+I;J,LJ/&RMM>-\;D;T."1W'0T`3T5DW5_-%JL85D%G&RQ3 MYZ[W^[S[':/^!^U:U`!161'K5K#J.H6]]?VT'DRJ(DED5#M,:'OUY)JD^L3K MX>BN?.;[6^F/*`)K=`W!JCK$2+A@V&7D$5>@;"9'7%96LG,D:] M=P)H`R[2%KB],A+;O4<5I7)52JD\=#3;-X[?+,RJ?(] MK[P,''!Q2MED/F#@\4U;^W4]R.E,N[^W%NS))R.QH`M6YV)@YP.E3F3%4;>X M65$((.1VJZR_)0`A;K3"2]^7HHK0W>7)N'7&*QKIM]PY(QDT`>C_``YB*Z/< M2YXDFP!]`/\`&NMK"\%V3V7ARW608>7,I'IGI^E;M`!1110`4444`%%%%`!1 M110`4444`%9VN6IN;!BHR\7SK_45HT=J`.'C;$A(Z&K4;TR\LS8Z@T).4/S( M?;TIH.*`)[JY*6YQW'-4H+1KFP=B^UI#D&FWA\Q5C_O'%:"D(@11@*,"@#&& MCR^2!+*6=O45HW[5C\I_+F@#3AD=HPK=ZANHBHJ71W%V^`I`7CD=ZMZF@ M1/>@#"7`)I#2OPU(>E`##]X5W/@*(+ID\V,%Y<9]0!_]D>#`H\/ M0E3G+,3['-`&[1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M"U%<>?Y1^S&/S`00),X/J..GUY^E2T4`9"Z9,/\`2CY8O/M)N=H8E,F/R]N< M9QM[XZ\XI1IG>M:B@#);2I3J1N?,3;]M6 MXQSG:(/+Q]<\_2K=E:O;3WTC,I%Q/YJX[#8B\_BIJW10!C_V#%-;S?:)KC[1 M.S.[1W,BJ&)XPH(4XX'([FR69/.-S;,'IT^4UT-%`%2RM7MI[ MZ1F4BXG\U<=AL1>?Q4U;HHH`****`"BBB@`HHHH`****`$HHHH`****`"BBB M@`HHHH`****`"L#7(=ETDW9^*WZIZK:_:K-@H^=?F6@#!A8+(`>AK.\36_G+ M"J9!0DY!JRKD`=B#3+J0-<`$\8H`RM.LH"X\U2Q_VN:T0EO&QVQ+D''`H=HX M%!QN;M38UD)+8`!H`MK'"ZX\L<>U59H$;*A%QZ`=:G#E5&>*%;)[$>M`&7#: M&TF7!^0G@>E;#?M0.W6GNQ/2HCUH`KR'YLU'I&EOJ^L0PHN49MTA`X5? MO2[#[(8`;-(T3NJ`#!]Z`+**$0(HPJC`%+110`4444`%%%%`!1110`4444`% M%%%`!1110!D>(;7S+9+A1\T)Y^AK"SFNPGB$T#Q-T=2IKCF#PN\,@_>(<&@! MAB+7$;'[J\U#+??Z2((U9W;H!_,U9#@@@]:6S@1=T@4;R>30!!LNWR,QH/4G M-1R6Z+D23.[8Y"\"M%XLYP>:K&TD;))`S0!E7"0JHV0KN/<#-4C;,SC(`S6^ MULL0/.['M4#[!VH`73MMJ,XQ3-6?QJ)YP#BJEU<;QMSTH`IDY-(U+WIIZ MT`0RGM7HW@="N@`GHTC$?I7G+:EK(V6E)!8(< M'!X7U^7%6+>_E,Z6]S;B.22(R18DW;@NW.[@8/S#U'O39]/N[JTN+6XO@TYDQO(0-@#'O_P#KIMSH MDMX)?M%VF7M9+5?+AVA58KSU/(V_3Z5//I*S6FIV_G$"_9B3M^YE%3\?NY_& M@!IU.[\^2W%BAGC02L//X\LD@<[?O?*>.G'6F7FNQ6T$-S_HYMI(O.R\X21E MQGY$Q\QQ[BKOV,?VA-=[SF6!(=N.FTL<_P#C_P"E9O\`8$B:<]C#>!8I;98) M2T6YCA`@*\_*,#..>IZ4`33:P\M6K^T%[:-"6V'7Z:O=(($DV6T+M M'YY"H29-VT[>2<#L,XY(JP=6::/S;"W^TQ+&LKGS-IPR[@%&.6Q@X.!R.:F@ MLG2ZGN995>2>&.)MJ;1E=W(&3UW]/:LU?"]LB0@):2LL212-<6BR%MJA01R, M'`'J/:@#6DCAU"UC.^7RG`=6BE:,D$<]8NE7+6>D:5*J7%WYGBA@C(B++\TV&W M#IE<<*>,'GKTJ&_T=[J*]AANA!#>@F8>7N;=M"Y!SP,`9&/Q%6#82R:A'<2W M"LL)+1@1[7Y!&"V>5YZ8Z@=:`*.E:G?3:18O/#%+=W,09,2X#C:"6;Y?EZC@ M`]15I=4>4K!%;@WFYU:%I,!=N,DL`>/F7''\0Z56;P]&]G;P2FWE^R96W\ZW M#A4P!A@3\W0#N8$=..U:E96S0R#KT/H:XF[M9[2Z,,BX;MZ&@!L>9'&:T.%P*RC.(7YXQ4XU&%@/G M^M`%MP6!`Q3L*JCD9`K/^VQ\G?Q49O0YPAS0!:EFP>#WJO/,"0<4W(/6H)W' M44`))*#43$?6HR^:3/H:`']!Q4;D#F@MSQ5[2;%KNX\R13H/04S0]7^Q^*FC,F+:=MC`],XX/YU=U>Z%E9M)_&WRH/>N())?() M)SU[T`>VT5R_@_Q`U_']BNVS<1KE7_OJ/ZBNHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`*Q==TQIQ]JMES*H^91_$/\:VJ*`.%20,!5R`A4'K5_6M%))NK M)0&ZO&._N/>L".^3'+@4`:F1UJ&67C:O2H/M:%>#UJEE59KXMPM5?.+'D\T`232'<1FH2>YZTXGN:BSELT`.R<4CGBES3"< MT`-QD@`9]J]4\/3+)HULF?GBC",.X(%>>Z59[W$\@^53\ON:DUG[1`BW=I-) M%-$>61L'%`'J%%<+X8\8=XZU"$CY)`-;/BJR%O?%D7:DHWC MZ]ZP5;:W/2@"8PQ[<@'\Z6$JG3BH_,R,9I-P'.:`)FE.?:H]VXG--)R*;G'U MH`4KSU-,)`H+%B%7)8\`"MG2_#\DA\V_4QIVCSRWU]*`*FF:>]_*."L(^\_] M!74*D-K;A%VQQH.I[>YJ1$2&,1QJ$1>@':N:\2:J'S90/D?\M2/Y4`96N:B; MVZ)3_4IP@]?>LU5QS3MIW>M#$=`,4`36EQ+:W"3P.4D0Y5A72:=XWNX;A5U` M+/">K(NUA_0URO3U%1>8"Q.<\T`>Q6&J66HINM+E)#C)4'YA]15RO%[>ZEMY M1+!(T<@Z,A((KI],\;7<&U+U1G^(=,U%E2"Y42'_EF_RG M]>M:E`!1110`4444`%%%%`!1110`4444`%<#XBLU@UB8%=JR'>N/?_Z]=]7. M>+[/S((KI1S&=C?0_P#UZ`.2,(P,,<>QQ44]O&%R"Y/N;9FQT M%`&,1A334&3[4^8X%$,;..!Q0`CY8<=*:!4[CL.E0MUP*`$)XJS9637#AGRL M?\ZDL=.DN&#NI"=O>MN.W\M0`,8[4`-10B!5&%`X`JCJD@%LX/<8K0<;17/: MS,3E1VZT`8!'->A>!?$XEB&F:A,!(@`@=CC9>'/&UU92I!J3M<6QX\P\NG^->BV5];7]NL]I,LL;?Q*?T/I0!8HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`6BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@!****`"BBB@`HHHH`****`"BBB@`HHHH`** MK7M_:Z?%YEU.D2]MQY/T%+HHY=/!!!FB;< M%!YV]^/RKA^I(-;GA57O+N^DN93,X0([GGDYX'MQ6-JMNUE>R1>AS^%`$3+C MD&E49J+S05H1RQH`F.#4EM9W-[+LMHFDYY('`^IK2T70Y=1/FR9CMQ_%W8^@ MKLK6UAM(5AA0*B]!0!DZ1X?BT\"64B2XQU/0?2M&4"K3;^!?E0>U5L@CD4`-8XZ M&D`/7-``SR#B@X]#0`V9V6,\C)XJL!@5+.?F"CM3,<4`)3PVWI311TH`D65@ M00<'L173Z-XRNK';%=_Z1`..3AU_'O7)T4`>Q6&NZ;J`7[/=QES_``,=K?D: MT:\-#;3G)XKI-'\:7VGJ(IQ]JA'0.?F`]C_C0!Z=16%IGBW2M1VJ)_(E/\$O M'/L>AK=H`****`"BBB@`HHHH`*K:C"D]A/'(0%*'D]O>K-<9X\UP)&NCVCYG MG($I4\JI/3ZG^5`&3&0X!J>9@EJWN*MZM9?9RD\:_(0$8#L0./TK-<^8NQNE M`&4L+3R@8.VKDBK#&%4<^E7$C5<@#`ZFJ\<,ES=8B0NW15`Y-`%.1=B`#[QK M6TK0))R);A2J#HN.36QI?AU;=UGN6$DW91]U?\36_'"`.E`&:EBJ)@+@`56D MA`)K<9>*SKE0,T`8MT-H(KF=9C\F`LYP\APH/IWKLQ;^L45S M^E>,-*U$*KS?9ICQLEX&?8]#6^#D`@Y!H`6BBB@`HHHH`****`"BBB@`HHHH M`6BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@!****` M"BBB@`HHHH`****`"BBL?5O$=CI@*%O-F_N)_4T`:TDL<2%Y'5%'4L<`5R>N M>-H+4-%IP$TG_/0_='T]:Y36M=N]4F)DK7)EGD9R>I)/%6IPNF69"_ZUQC/<59M8T@C,K85%Z9K$O9GO+L*"3DX%`'8 M?#_C3KQSDEIAS^%:NM:3'JD(92$G085NQ]C5+P=%Y=C<1@?*KK^>.:UK^_M= M,@\V[DVJ>@`R6^@H`\ZNE:UF:&9&CD4X*L*Z7PMH#W"_:[Y"L7\"$8+>Y]JQ M]0UY]0U6*Y:!/*A(V1L`20/4UZ+I]Y#J-E'7(_E72ZUJ,>G6+RN?F(PH]37EUQ,USC>)]0TE@$E\Z#O%(21^![5 MAT4`>JZ1XQTW4<)*WV68_P`,A&T_0UT"LKJ&4AE/0@Y!KPOG'%:6FZ[J6E`+ M:7++'G)C."I_`T`>QT5R^A>-+/42D%V/LURQP,\HQ]CV_&NG)`!)(`'6UE`9KJ9(HQU9V`KFM<\=6%DKQ6)^U7`XR/N*?KW_``KSG4=3O-4G\Z]G M>5NV>B_0=J`.JU[Q[-!SV/&:`%"RRMY4"-(['`51S76 MZ/I2Z=;X/S3/R[_T'M7*Z=JL]A,LH)9#P0R]1WR?RYKL],U.VU2W\ZV?.,;E M/WE/O0!95,4\#%+10!&]9TZ[G(]ZORDXJ!8SG)H`R-;O%TK2I)0<2M\L8]6/ M^"QZ_P"'X5S#<4`,`R:D"T+3@:`` M+Q34'[QJD`R.F:8O$I![B@!2,TA6I,4A_E0!'BM+2]?U+26_T6<[/^>;_,OY M=JS\4V@#T/2_'UI-MCU&%K=SUD7YD_Q'ZUUEM=07<0EMIDEC/\2,"*\1/%6+ M'4;S39?-L[AX6/7:>#]1WH`]KHKB=(\?P.JQ:I$T3CCS8QN!^HZBNOL[RWOH M%GM9DFB;HR'-`$]%%%`!1110`4444`+1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`E%%%`!1110`4444`%5[V^M[&(R7,@0=AW/T% M8>L>*([>9K2PVRSK]^3JJ?XFN6OKR:Y@"KJUP$B$,;9_O50TR+=*TS#Y4'7WIE_)OG;'05I6L)CLXH MR.9/F;Z4`=;X0!73VW#F5RUTE^Q:,\HZJA M(^N*X($NYW')[F@!T8[]JV_#.O#1K]HIV/V2?[A_O?XUB.P1?Z5I:1H\U MX13&WSMP/K0!SWB?53J%Z8T;,:&L,C'>E[YZD]:&X&.YH`,@]Z,\\ M4@/M0>3SQ0`]0:CD.9/I4BXZ]<5#ZGUH`6D[4'H*/04`':@],44O5NE`"'TI MIIQ^]3>]`##2'D\4K4Y1A?QH`:%IP7BG=J#TH`3''XT8XH_A_&CM0`A^]5JZ MU;4KBRCM)+R5H8Q@)NZCW]?QJL>M--`%;O13Y5P=PZ&F4``KK_#JBVL03P7^ MV*`'33>82 M>-N-O4G*_P"-6O#S7HU%9K%F3R_ON!P1Z'UK+C66]G6&($EC@"O0;#3DL;*W MM8@`[$%SZ]S0!TT4PD`'1\`D5)6+=3M"O[LXDWY\G\J`.7D,4I0GZT`>M`#@>*C)Q,IJ7@#^IJ+F5AM'`[T`38R M11BG"DQ0`S%-(J7'2FXH`C(II%2E:810!&:M6&I7FFS>;9W#Q-WP>#]1T-5R M*::`/0=%\?02A8M53R7Z><@RI^H[5V%M`[)4QYD3'E3_4>]:U`!1110`M%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`"4444`%%%% M`!7*>-]?;3K46=H^+F?@D'E%_P`375FO(/$%T=2\4S.K97S0B_0<4`6[6W$, M:(!R>6)[FFW'SN<=*N.,+D<=J@D3$98]Z`,YQSC'7I3&P/D4_6BYE,9(XW'] M*B5UC7>>IZ"@"W""F."2W1?6K5XPMK0DD%R,D^IIEE$0!))]X_I576)MT@C' M:@"E:0FYND3KD\_2NBB0S2'8/O$(GTK(TE2OFRC[P&Q?J:VA-]CC+KC,:X4G ML3W_`)T`2^(;X6UBMI"P,C\''85R\7RLV!DBII7:>5I6R?O#';^4AP\IY^E<\!M&6_"@!0-H] MS33QSW-*>F:;SG/>@`Z'&:.*0C!!-,,H4\M1GEL>E``H[U)_"*`.!3B,`4 M`,[4'H*4]!2'[HH`3M0>U!Z"@]J`$SUH(Z49/((I"2:`&N,H14%6<9JL>":` M+=CD,Y7[YX!_N^IJ[N6-5B5N^6)/)-5+3Y(BWKS09"5))QGGUH`LV;F6XDSM M(*`;&QEO05'=KDM@#/4C/W?:I+,JO(49#=<\@>M/E7=][)_$'=TYH`TO!MND MES(Q'S```^E=3^F*Y#P;-LO9E)ZIQ]D[TO M84#K0`A'-)BG4$4`,Q2,*D"YXI".:`(L>U,VY/M4^.#3'("@T`,X3(7'UJ(L M3UI21<.HXW#^\!7E%6M M,U"?2[^*[MVPZ'IV8=P:`/;Z*K:?>Q:A8PWWM10!:HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`2BBB@`HHHH`JZG<+:: M;F_O-1C)Y^;->E^.YS%X>=!UE<+_7^E>;Z*F[4H_;_``H` MZ1US@?A4&HR>3$`.O6KL:[IL=A6-KDF)V4=>E`&675B2YRV>E+'$TLR#'+=J MA'/U)ZUKV"#SS*1]U<"@"])B-#@_=&!7.W#^9*S9[UL7TNRW;WK$(^3W)H`U M](3]VI/"C+GZTFK3;G2)3_M,/<__`%JLV*[+89XSU^@K+>3SKAY"<;CF@!"` ML9..U1P@D'%.F/R8]::GW:``,4N8R#W%=D)U*O*Q_=QQXR?2N*D_X^$'<5N: ME,T6G0VX.#-RW^Z/_KT`9MQ.UUU`&>G`%'#'C@"@!I.>>U' M3GO0>3["DZ\T`##*$=R*B0#BI@<<5%C#'ZT`.7O2J.#0`<4[&$_&@!!P#2#[ MI-*?NFD_A_&@`'2E'W30!\M.[?C0!$S80TU%P![T'YY,>E3!0`/I0``?**&Z M"E/3\*:?NB@!A[4'[M*W1:/X:`&GM2&E;C\J:3S0`X\&CUIN3G-+G@T`%5Y/ M]815C/%1LFZ90.]`$[?NXE7UIHZ@D$GI]:=W4#/3MZ4`6(F* MC/)V_3Y_:I2V"3G@#DE>QSQ4*MM(P.5YR5[>GZ4_.%RH&0I*C..#ZT`6_"@S MJ>1T"G-=HTFYB/0&N3\(1@R7$I[`"NGB^8N?]H"@#3B^6+^5,D;[D:]>I_&@ M,,`'IC)K+U'4/LEK].'3-`#'0,*6.0GY#U%)*VT9[TRW!)+'J M>*`)S2CI0>M';-`!Q2FDH/-`"C@TA'K2CH?I0>P]:`&`8&:AO]/SHKG?!-]]B\0QDG"2HR M-^61_*B@#UNBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@!****`"BBB@#C_B$^;2WB]V:N+\.IF_8GHJ$UUGC^3_2(4](L_F3_`(5S M/AH?/=/C/R@?K0!T,.`KR'H,]:Y/4)Q-=/MY4'K72:@QATF4C@M\M:R[-<2*:UH#DY[4`9VJR9D"`\"JL49>2)/?)I]VWF7+ M'WJ:T&)"V.@P*`+EW((K%@.K'8,>G>LV/CFK&I']['&#Q&HS]35=3QP*`$D. M3US0,;*;W]Z20X'O0`EL`]ZNXX`.2:M7,QN;EGZ`\`>@'052MPG<%L=AUH`!UW&F=3 MGUI9#T7\ZPQCZ4QNP]J`$8\"D]!2'L/:G@U':@]! M1V%`"$9--`XIQZTWUH``.M!'%`Z4'M0`A[5+;`&8>HS4?>G1/LD#>E`"R?,Q M;WIJX[8]1D4YA@#)&?K30?0`GJ.>M`$J#)``&1RHZ<>]228\AL-@8R#NZGTJ M).,8/&N*=/GR3G)!Y'<+[4`;WA5=EA(Y_B?'Y5T=JOR+[DFL32(_)TR M!.Y7`-QKB)',LCR-U8DF@",T@'>@\G-**`%[4@%+10`'BE!XYX%'6H[A\)M'6 M@"&5MSG'058A&%'TS5:)=SCTJVG`-`"F@]!10>N/:@!PZ4P'DTJG!IN<-F@" M3/!I/4_A36;Y?>G%<(*`(Y>M0GK4LM1=Q0!&124X]Z;0`4&B@T`+'(T3AU." M.AHIM%`'O=%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`"4444`%%%%`'GGCM]VK,O]V-1_7^M9/AQ"+:9A_%(!^0JYXND\S5KL]<-M M_(5%X?`%E$/[S,Q_S^%`$FN2YC6'.,+DUSR)EB>PK2OY?M,UPV>`P6L_("?6 M@"S;G#?AQ6@V+>R)/'R\51L$,CYJUJ[[(0@]A0!E1CV*7.*`$/%0R'-2,:;&-[Y["@" M:)-JU(!_$W_ZZ%&3SP!2-ECCM0`A)ZFDSCD]31QDYZ"DR.I_"@!FTJYP.M.) M"+GK2]LFH6.YL]NU`"J.?>K(7!J)%RU6&ZDT`,EZU$YYI\I^:HV^]B@!#]ZI M,M-]:<>&IG\5`"KWH["@=Z.U`!ZT ME%)CB@"1F^7J<^F:3@YY[YZ_I2-S@9Z^G:@'/0XS].*`)$Y!&<9/!ST]J6X) M*!>@8\#'0TBCN`>>G'0TI&9XAC@MD\8YS0!V-LORH@[`"M2/K^.*S+4X(/IS M5TRB*!W)Z#]:`.=\1W?F3&-3U/(]JPV/:I[F7SIWD)SDX%5S0`8I:!P*.]`` M*#G-+TXI0*`$#;!EN!5-VW,6]34MS("=J]JA`)Z4`6+=<*3CK4XZ&HX#A=O> MGCO]:`$;I1GFG'M4;=:`%[Y]*8S4[/R'Z57=NU`$\/SD^U3/TJ*U4^633G/- M`$4AYJ(GFI&J,T`-/4TE*>M)0`4444`)1110![W1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`E%%%`!1139&$<;.>BC)H`\K\0ONU M"Z/K(W\Z73G$.E;CP1&.:EY72H%'\8R:`*B$+:NQZLY-5 M0=Q`J>8_N0,^M,M8]\BB@#8TB+`)(%4=8DW76T'H:U[51#:-(>!S7/.QEF+9 MR2:`)1Q$H]31=''EQC^$9-.4#S%ST49JN[;Y&;WH`.U(3D!M'^33.^/S-./RC/M``*0]*#UI.HH`.XI>](!Q2YH`1J0'(Z=>V.AH;H/K2#&/K[=Z`)4P3@@ M88],=Z,_OE/<$9]C2*0>IP&XST.:3),HXYR*`.UM3^[!]:AURZ,-@(U.&D-% ML_RJ/QK&UN&;S4I,LC6\"G#R.O M3'4`=S4VO^&I-,N[:*W9ITN3M1MN/F]*`,.,C?Q4O0_C4VHZ3?:1*JWD.P-] MU@1 MO!/X5ONXTU1N^@I>IXH`3U)IA/.X]33CR<=J M3[QXZ"@!!P"33H+&[NTDGAMWDBB^\RC(%6]'TXZMJB6F\I&!OD8=E]*]&ACM M;"!8D\N")!@`D*/_`*]`'FNFZ5=ZEYK6L1?RAD^_L/>IM'T:XU"],0!C6,_O M6(^Y[8]:[276]%TX%8I8QR6*P*",_A5";QC9*6-M9R.QY).$R??K0!6U7PE) M#'')IH>.Q\R"X,MRJY,>!ACW`-1_\)M=8/EVD*_[S M$_X52N/%>JS[L2I%Q_`@_K0!S\JM'(4<%64D$'J#38JL3SR74S33N9)&ZLW4 MU&*`!.OX4A^Z13EQG\*::`*TIRV*4<+BF.>M`"MVH M]*1J7N*`%;M]*:W04YC_`"IC'I]*`$/]*0]:&//X4&@!.]`'-+WH[F@!.U%% M'I0!&YPHIHYZXITOW1]:C[4`3*>X[]<'I3H1NN%'O40)J>SYN`3VH`ZBWD"# M<>@[^PKG)'\R1G/5B36G) MM10`PRA1S&_(]O:@"6[M(=0M);6Z3='(,,.X]Q7E-_92Z;J$]E*#F)\*2/O+ MV/Y5[`1QN_.N*^(:0++8R=+@AE/NOO\`C0!R)X4YJG,:LRR*J'D$^U4W;)H` M;5JW7$>?4U4J]%\J*/:@!RCK]*C<\U(3P?I4#')H`4?=_&HV&34G1*C)H`8Q MYIII6ZTE`"4444`%%%%`'O=%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`"4444`%8OBVY^SZ%-ZR87^O\`2MJN1\?SXM[>$'U<_P`J M`.+TS!OW?^ZA(J#4.9VQCBI](&9YV/9:BE`9V;U-`#H-QL`@./WA-;UA'Y4/ M]:S--B5K?<><.0!^5:LC>3:,Y/04`<[J$GFWCGT.*0_+`/34:C+?2K*_+SW-`"]!M'2D;T'7O M2]!SWZ4G3YNYZ4`-;CY>IIKML''7M2]!DFH,EYN>@Z4`2V]Q-`7\F5X]X^;: M<9I#(SY+$DXZDYI@ZGZ4#O\`2@!>N?I3E'RFFJ#S]*>F`#GTH`>@QGGM3AW^ ME,5@`<`GBDWG)X[4`*:%Z@U&"6)YQ3E%`"YYII/%*/Z4A'%`%5O]8:G7&TU7 M_C_&K"#@T`&.,TO:C'RFEP-IH`0\D4\U'FGYX'TH`'Z_A36'S&AB<#Z4F>?K M0`C#YJ0]32GK2'K0`9^:C^*D_BI?XC0`E%'K1VH`CFZ#ZU$*EF[5&*`'`\9,[=L\4#K0`\4_G&*:/6G M"@!1S42S*MRI*EL'@4Z9Q''[FH8%ZN:`.WL_&MM9V<5NEC*VQ<9\P#/Z4C^/ ME)PNG'\9?_K5QK=:,Q\WI^E,;QG?&/]U;P)QU;+?X5RH' M)JP@_=T`:%YKNIWK9FO)0/[L;%5_(5C3NSN2[,Q]2-`$?8T444 M``ZCZU>'`%4XAF05<(Z9]*`$)YJ)C@T\GYJAZF@!2>/QI.U*!UH/2@"-^U,I M[]!3*`"BBB@`HHHH`][HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`2BBB@`KSWQ[-G4RF>%0#^O\`6O0J\M\:3;];N!GHV/R&*`*& MC$""[<^@'\Z01\$FC2AC3IS_`'I`/TJ0G)]NM`%W30!;GCG>1^@IVL/Y=GMS M][BETS!MSZ[S_(53UR3E4S0!FVXR"/<5%M* MU'/:A5+N`*`)8EP,FI@.YY%-09.*E-^^WH!2L>BBF.=BYH`9 M,V3M'>D^[+Q3%Y?)ZYI?XC0`*>2:<#P1[4Q>_P!*D4<&@`4C!^E.4C#?2@+P M:50,&@`4\'Z4G4G\:4=_I31WH`%'/X4+P:4=_I2#K0`#^E'K0/Z4A^Z:`*K_ M`.L/UJ93\OX57;[_`.-3(>/PH`D!ZFCJ#0.AIW&TT`,[4[L*3'!I1TH`#]VF M$?+3^QIO8T`,S2]Z.N:0<4`)W%`ZTO%(.M`"CO12+WHH`CFZBHZ=+][\*04` M+VJ[:-Y5N[^B\51[@59=MMNJ>I_2@!%X4>IIZ\U&.:D3IF@"5:=TYIJTR>3: MNT=30!#*QEEP.:F'R@`*>*;;IA=Y[]*D[]J`&L3G[II`6S]TTLG4TU#UY[4` M-&<]*G0MLX`_&HC3U;"@"@!?F');\A520Y8U:D;BJ;')-`!2444`2P?ZRK#' M.*KP??JPW2@"/O3*>>M,[T`*!UI>U(M*>E`$;]!4=2/T_&F4`)1110`4444` M>]T444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`)1110 M`5X[XCE\W5;I\YS(?YU["YPC'VKQ/4F)N7)_O4`7M*'_`!+6XZR$_H*E<;(R M3Z4FCJ&TYO\`?/\`(4EZW[LB@"YH[;K-V_Z:G^0K-UAMUYM'0"M'1EQ8'_?/ M\A65?G??MWYQ0!&IV6TA]JJ)5FX^6W"^IJ!!0`[G%20C`)]:9R2!ZU8C7:OT MZ4`/Q@;1U[T'Y1CN:!@+D\TGWB2:`$QC\:K2-OE`'W14MQ)@;1]XU$@^:@!1 M]^CU^E*.OYT@Z'Z4`(G>I1T-1KWIXZ4`*.AI1T-'8T@Z&@`'0_2D']*4=#2" M@`'?Z4#K0O?Z4#K0`@_I1C@T#O2_PGZT`5)!B0U(M,F&)#3QVH` M]*.AH`<.5-`'!I!T-`;K0`=C3>QIV1S3:`$%`HI!UH`.E`XS]*44GKZ4`)VH M'2E/W:3M0!`_+F@4L@"OQT-)0`JC+"I)3EP/[HQ38_O?SI,Y8GUH`D6I5J)* MF44`29`&:IR,6<_E4TS$+CUJ*)=SCVYH`N'B-0.PJ,'FGM]T?2H^]`"N,U$, MC-2YY--/>@!O6GQ+R":C!Y)JRH&T&@"*?T%5>]33ME\5#0`E%%%`$D7WZL'I M5:/[XJR?NT`1M2-]XT-0>M``M+VI5I#TH`C;I^-,-2-TJ,]:`$HHHH`****` M/>Z***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`$HHHH M`1AE2/45XAJ!(O9E/\+D?K7N%>+:]%Y6N7R8X6=_YF@"_I&1IA/JY_D*BOCA M0O,?\`:K4LV\O3`?\` M>-9*GYE3TS4:]*==?-='VIM`$L*9;=5A1N[8'\J8BX4*,>]2'Y1C\ MZ`$^\<"D9@H)/"BG8P/KUJM3<>M.3[]`'S>U*O4T`"G.? MI0.0?I0._P!*51P:`&^M2+]VF=C3E^Z:`'9^4T@/!H_A-`Z&@!.H-`[TH^Z? MK2=C0`+U/TH]:!T-`^Z:`$[&E_A_&D[4AZ4`0W(^8'U%"=!1<=5I(^@H`D[T M#J:#P:4#YJ`%'0_2DQP?I0*44`,'>A3S3L2*4=:0=10`X=10. MXH'6@=:`$[8H(I>M)VH`9,.,^E15.XRAJ`4`.!PI]^*049XH6@"5>U3KP*@6 MED?`QZT`,=BS9-2Q#"Y[U'&NXGT%2B@"0_<7Z5'GGFGD_*M1GK0`\4$<&D7J M:=V:@"$CY2?>I4;Y<9IJC,9^M)T8T`)(/FJ$U,P&%6F^Y^-`$34'K2$TM`#A0>E"]10U`$3=#3*>U1T`%)2TE`"T444`>]T M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`)1110`5Y M'XP18O$-ZHZM)N/X@&O7#P,FO&-?N1>:S>7"G*O*VWZ=!0!I:,,Z6G..6_G6 M=(`T[9ZYK3TH%=%4]/O<_C64"3(QH`OD@:>#VP?YUF0#Y\U?G)2P5<]C_.J4 M/$>[V-`%:0[IG/O4D0W/GKBHE/4U8A3(^M`$R#"Y[]A3EZ9/./UI#ST^@H8A M%R>@_6@".>3:NW/S-4`7#_C3L%Y,GGFE'WJ`$'4T@/!^E*/Z4J]#0`#.#3EZ M&D`XI1T-`#>HI1T-'8T#H:`%[&@=#0#P?I0#P?I0`?P_C2=OQH/W12=J`%_A MH'W:7^'\:3^'\:`$[4$<4'[HI#GC%`$5S]X4R(\TZ?.0:C3AJ`)V/%*#ALFF M=0*4]:`'=Z`>:;WH'WJ`'CJ*:>M&1F@]^:`&'@TG>G,>32,.:`%7K2CK28IW M>@!/6BCUH[4`-(JOWJR>]5C]\_6@!12BFTY:`)5Z5&QR2:E>G^.9@ND)"6QYD@)]P/_`*^*\RN>7.*`-^QP/#Z=>0?YFJ%K'O;@9&?F/]*HLV+1AZ MF@"&,=!ZU>0;5^O\JK6R_P`1Z5;3YN/\B@!>`,^M0.WF2`#[HI\[G(5>I_05 M$B\T``'/XTH'7Z4HXR?:D'0T`(.AI1]TT=%/UI1@+0`HZ$T?PGZT?P?C0>GX MT`)_":0=#]:7^&DS\M``.AI1T/TI/X30.AH`#]T4=A2?PCZ4,>!0`O\`#^-' M\(II/R@4$\"@!3T%+TQ32<`4%A@4`,F&Y<5`OWA5LLN[I50X\TGWH`EQQ2YX MI#1F@!>`:".:3KBG$\T`-V\TA!S3S2-]XT`-).>:#UIS"D.`:`%:CO2$Y:EQ MSF@`HXQ2>M':@`-5C]XU9/2JW\5`"TY::*=G`Q0`$Y.:EA&.340YJ?&%H`0G MDTO:F9Y/TIX/%`"_PBDI<_**83S0`[O2CH?I3<\T;L9^E``3\H`]:C/2EWO44QS0!`W>F M&G,>M,H`****`"BBB@#WRBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@!****`.&\>N7OH(\_*D>?Q)/^%<)YI@ZFBZ^^M`$2Y9B6.33EZ, M?:A._P!*4?=:@!!]TTG;ZFE'2C^$4`(?NCZTO84A^Z/K2GH*`'?PBD/W10?N M_A1_`OXT`(?N_C2=J=_"*0]OK0`G\)^M'\)H/W?QI/X?QH`4]!]*&'`^E#=! M]*4]!]*`&D#`^E-;H/I2MV^E,?\`I0`C-R*0DDTC?>%.7[WXT``!)S5<]35M M>E56^\?K0!(3@"@'(II^Z*H`11\U.Z4B]:/6@`'O2G&*0=*#T%`#6X4_2JPZU9?[A^E5^]`"B MEZT+WH%`#D'-3'I42=:D;I0`T=Z`<4#H?I10!)GY13&IP^Z*:W2@!N>:,_RI M#UHH`;Z44>E'>@`-)2FDH`****`"IX_N?A4%3Q?=H`0@YJ1!\HIM/'04`.7[ >P^M12GFI1U_&H).IH`B--I:2@`HHHH`****`/__9 ` end GRAPHIC 6 complexwideproxyonex9x1.jpg GRAPHIC begin 644 complexwideproxyonex9x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;@!1`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`ZF/4M0N/,:WL;4QI+)&"]TRD['*YP(SCIZT_[9JW_/A9?^!C M_P#QJHM)_P"/6;_K[N?_`$<]7A0!6^V:M_SX67_@8_\`\:H^UZM_SX67_@8_ M_P`:JS5*ZU."!S&#O<<$*>E`$GVO5O\`GPLO_`Q__C5'VO5O^?"R_P#`Q_\` MXU59+ZXE.5C15],\U.MVPP'3\10`[[7JW_/A9?\`@8__`,:H^UZM_P`^%E_X M&/\`_&JG1U<94YI]`%7[9JW_`#X67_@8_P#\:IUKJ%V^HI:7=I#%YD3R*T4Y MD^Z5!!!1?[_Z5.:J#_D8;3_KTG_]#AH`UJ***`,;2?\`CVF_Z^[C_P!'/5[] M*HZ3_P`>TW3_`(^[C_T<]+J]W]ATR>X&=RKA?J>!0!E:OJ;3736%MO#!L.P; M'X5)96BQ@$X+GOBL/0D8223N=S'UY)/K6R;IDP<$Y]*`-J"-$P339HT+\=/2 MJ<-S(\8^0_G4@E8\X_"@`DA!4@,0>Q'44^QO=\QM)C^_1=P8_P`:^OUJ(L_< M<5EZE&ZCX:%P3[J3@C\J`.GS50?\C#:?]>D__H<-65.Y00*K#_D8 M;3_KTG_]#AH`UJ***`,72?\`CVF_Z^[C_P!'/5;Q/_R!I"!_$.M6=*_X]IN1 M_P`?=Q_Z.>IKZV-W9RP*0"XQDT`<%ITQ1`H)/CLS+H"EFRV[F@!@\3&24HL(VC^)CQ4>I3_:+*4A0IR/?O6?] ME*SDF6=6&00K?+GUQ6K:6QCB&X!E8X^84`=-9+MLH!SQ&HY^E,'_`",-I_UZ M3_\`H<-2VH9;9`PP<=#VJ)?^1AM/^O2?_P!#AH`UJ***`,72C_HTW_7W;_K[N.W_39ZNY/H:`.+O)!+J%Q)@8+DJ0 MOXTV$PRDB4;@?7K6CK>GBUS+!&JPMUV@#:3VQ_G^58,6Y6)!R/2@"^ MYM$&TGR8\X+@9/Y5JVFIVGV<(/\`5`8&>G%3)<7(4VX)*J>CGI^0-X1F[H3AA^!H7_D8;3_KTG_\`0X:\W65HI`P.,5U/A*;S MM>0XQ_HDG_H<=`';4444`>97CXU"]'I=3_\`HQJA+Y&#R/2F:G+Y.IWK$$K] MKFY';]XU,1Q(!M^;(SF@"E.FR1@.G:NT\.0+-HEN^WYL$>N<,1_09E+@$850&WY_G]?3/ MMC"TYT$[N+6+>Q)5G.X)Z87O@9Y/?FNMFLVGE:2XP1QL7LHQS^)X_E6+:Z0`$GC497&`P_O+GMR/IG\:Y'Q-`+?7GP M!AHU;C\1_2NSO-/$S),CM%(G*-'P5)KE/%BS'5+>24*=T)0,/XL-G/L?F%`& M&QSD`5T7@5B=>*GM:R<_\#CKG'^]Q^M=%X%S_P`)`V1_RZR?^AQT`>@T444` M>4:A-$NJZ@KRHI%U-D%A_P`]&[572XME&!+&%]-PKU^B@#R+[5;_`//:/_OL M5H^%M2MK/59_-N84BDB(RT@`R#DO;K6%;:M90887,64DS@2`9SU/ZD_A7HE%`'-VGB'39;;YK^V1TP/GE4;O M?K6%XMO;"X^SO!>VTI1WX256(!`]#_LUZ#10!XR9H GRAPHIC 7 complexwideproxyonex9x2.jpg GRAPHIC begin 644 complexwideproxyonex9x2.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;0!3`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`Z+Q)J]YIL]I%9B#]\LC,94+?=*XQAA_>-9'_``DVL>MC_P!^ M'_\`BZL^,_\`C^T[_KE-_..L*@#4_P"$FUCUL?\`OP__`,71_P`)-K'K8_\` M?A__`(NLIF"J68X`ZFLNZO6=V6)AMQQ[^]`'32>*]5B0L[6(`_Z8/_\`%U7' MC?4"2"UDN/6W?_XY7(\;@S,S'MDDTUGW`E5.1C%`';0^+M3G7,M MC_WX?_XNF3^+-8B@DDQ8G8I;'D/S@?[]9@(901T/-07O_'E!6_XS_P"/[3O^NHKIO#VC+=,\L[!DZ`#GF@#G MCEU+`!L\\#I3`IY`],<'K74ZGX8NH&\RU598\-T.UD&15>5<@;SR:`-?2[@RPE&ZI@5/>_\>5Q M_P!IT444`,DC=TZ'&17:"TO!;CR'A7'.'#$G\0>*`-T M8QP:8_(-4X;ETMG+KDAMHY^G3VJI//=!@8[-I%8X8[\;1ZG_`.M0!0\0:?!/ M&S!0LBC(*\9K@F5I'./7'->C3L&B#2!L.,8(W$?EUK@KF,17$JA?E#G\*`(H MT*LN0!6UN#:/(1T\IOY&L(!WE<'/RFNAN$$>FRH!@+"PQ^%`'JU%%%`')>-/ M^/[3O^N-/^/[3O\`KG-_..L"@"'1[5(-87>WR!,J M3U)R``/?^E=FTRQ1`%F);@*,?_KKE[95-W"6`.'!%;TJR`+)"%9B0"&]/:@" M>9X8HHPTB`'WQ5E6W0*R[2,?3-59)$"9\@$X_NM_A_6FVTCR0,_E/$,_=?\` MG0!6O'V@<9-QK-O+79%T51CG`P?S[5%H:D6UQV!E.,?0 M4`=/(BX^]5*>YC`*`_*IR??VK-E6X13LNF(QR#44$#AMSGC:Z@CB M)V&9\#V`!/\`2J%A9"TBP6W.W4_T%;?_`-"BJG*N.<4`1W:^<%"CK4>GVXCLTQ@[I'R?^!&KI41P MG`QQDTS365[%&/N"B1LQP#@\^]9,+[Y]B M'./O'T]J`+4%N0N3]XC`'I3Y;*.1-I4''>K2#8F2*,87WH`YR[LY+;D_,N>H MK/O/^/*?_KFW\J[!D##!&:Y[6]/,-G<21\IY;9'IP:`/1Z***`.=\1W$-OJE M@\\T<2F"FEQ^9?6J/\`Q*95!S]":[:B@#C9]2TV>-E:_M0"./WR]?7K M6;H5Q:6K2_:-1M,#@9F!R?49KT2B@#SR3Q?8LY5(Y"BGJ2`3^?\`C6JFKZ8R MAOM]L,C.#*H(_6NNHH`Y+^U=-_Z"%I_W^7_&J6K:EI\FE7:)>VSNT+A56522 - -=I]Z[JB@`HHHH`__V3\_ ` end GRAPHIC 8 complexwideproxyonex9x3.jpg GRAPHIC begin 644 complexwideproxyonex9x3.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;@!3`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`ZW5M:ATJ2".2">9I@S*(@O`7&<[F']X51_X2R#_H'7W_`)"_ M^+JOXN_Y"&G_`/7*;^<=8]`'0_\`"60?]`Z^_P#(7_Q='_"60?\`0.OO_(7_ M`,77/$A1DD`5`U]`KE=V3[4`=1_PED'_`$#K[_R%_P#%T?\`"60?]`Z^_P#( M7_Q=M1BXN7R0R@>F*`.Q_P"$L@_Z!U]_Y"_^+I/^$MM_^@=? M?^0O_BZY&+4ANVRC/NM7.",CD&@#HO\`A+K?_H'WW_D+_P"+IDGC&UCC9WL+ MX*H))Q'P!_P.N?(JM?\`_'A<_P#7)OY&@#TVBBB@#E_%G_(1T_\`ZY3?SCK( MQ6QXK_Y".G_]<9_YQUD@4`9>JW&W$(..-S'VI+73[J6`3I#N5A\OK]:0HMUJ M.UOF#2A3GT%=OIX4(```!Q0!P[:??]6A.`.E'D7*#8UNW/;%>EK#'W1?RI3! M$?\`EFN?7%`'F=UI=W'!]H^SD)CGU`^E,T^X6,X9CL?@9[&O1[J%'B9-@((Q MBO.+NU:`21@@%7.*`-0BJU__`,@^Y_ZY-_(U:3)12W4CFJ^H#_B7W/\`UR;^ M1H`]*HHHH`YGQ5_R$M/_`.N,_P#.*LL"M7Q1_P`A/3_^N,__`*%%6:!0!D1! M8=5*8QF4-^8_^O76V#&-UR/DSQ7.W%KB]BN`.-PW?K6M;SRM$4C25F!QE2JC M]>:`.D5@1G/ZTY6]^WK6'I]Q=&\:U90WR[LN^#CIV!I97O7D:\^UE@;E@V=^X_6NQ2:\,8^T6Z(^.DWZ4`9BKA%'H!5?4?\`D'W/_7)OY&KLF&=B.A.15/4?^0?<_P#7)_Y& M@#T>BBB@#F_$XSJFG_\`7&?_`-"BJ@HK0\2_\A33_P#KC/\`^A15244`(0,9 M(!`K0LT41Y1KSRJK]L'J<9& M?6L#;97-RDC3A2O`Q+M_.M.VEM(4;RR&9QM;!W9H`T"H'S$*3ZBLZYE$*2OT M8C`^IJ8.QCRK$IVR,'Z5E7\Z-.L>\!B"0N>M`%)JIZE_R#KK_KD_\C5YAZ52 MU+_D'77_`%R?^1H`]%HHHH`Y?Q9]Q((T,4PR<]);2(XCCDE M]\;15WXE#,FF#VF_]DKB2A`H`V[CQ3=-Q;Q1Q#U/S'_"M#0=7\Z$QW#*SDD- MD8R#WKDL'-7]#B\_58H,X\W*Y]\''ZXH`[VWM59@T:QD?[H.:U(8@D8+!1M[ M#@"N0>ZU'2Y/+*@A1G#=35FVU2_O%V[0FXXP!S0!M75TKR%(VR>X':N/\3OG M51$./*0`CNIZ_GR*ZE;:'1[":]NR5(Y`8\NV.!_]:N#FEDGN))I6W22,68^I M/6@"]9:RX?RKTY])`.GUJ[J#K)IERR,&4PO@@Y[&N<="DC6:YFE("QHA+'L-_/\J`-7Q)> MJ]Y%9Q1+N5=[.1SD]A_/\:T?"WV\0; MHW(5%Z%L<#].:;#=RV5ZE_#+M*JT9#?Q#'`]^>OY#`_.N]>MZGHUAJQB-]`93 M%G9B1EQG&?ND>@JA_P`(=H/_`#Y-_P"!$G_Q5`'F)YXK5L[EH-,EMX^&G=YXIN<]#7HW_``B&A_\`/H__`($2_P#Q5'_"'Z%_SYO_`.!$O_Q5 M`'FAP9/EY'?ZTLP_T>3_`'#_`"KTD>#M!'2R8?\`;Q)_\52GP=H1 N0>WV ,B7_XJ@#=HHHH`__9 ` end GRAPHIC 9 complexwideproxyonex9x4.jpg GRAPHIC begin 644 complexwideproxyonex9x4.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;0!7`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`ZCQ+J=SI=G;R6@B+RSB,^:I8`;6;H"/[M<__`,)3K'_3C_WX M?_XNM7QK_P`>-C_U]C_T7)7+;:`-3_A*=8_Z@#2_P"$IUC_`*TS_KTB_]`%%`&;XS M_P"/.Q_Z^_\`VG)7-;:Z;QB,VEA_U]_^TI*Y\)F@"'8:=#`;F\2W&0NW/N5RIX-9UB2 MM_`1U\P#\S0!TVVC;5CRZ1HZ`.L\/_\`(O:9_P!>D7_H`HH\/_\`(O:9_P!> MD7_H`HH`H^+!F#3Q_P!/?_M*2L81UM^*1F/3O^OO_P!I25FJE`$*Q9I9-/29 M&?";R,?.H/T^E657VH>1XU*J.,Y+4`9MZSVUA'$2OFYZJ,"J-S8@VZ.D<(+? M>^6K.KNSLA$;$#J1:`-SP_P#\B]IG_7I%_P"@ M"BCP_P#\B]IG_7I%_P"@"B@"IXF^[IW_`%]_^TI*HJ*O>)ONZ=_U]_\`M*2J M:KW/2@!ZBF3IN7:PRIKG=8\2E':&P9<+]Z7_``JMHXOKV\2ZN9YQ`C8W]VN,*BC<&'WC[5@F[FF MG9(59N?E'7%`#[F;=(0.W%-FFN-+E@DAF*RE=S*/3/0TAECL"2^);O\`NGE8 M_P#$UG22-+(TDC%F8Y)/>@#TFUN$O+2*XC^[(H;'I2.M%M'M[BS%Y<1AW\W";N@`[_G71SE%CX`&#NP!WK)\(3+ M+HTD*G]Y#)G'L?\`)J]>2@)N'!`*D4`9-QY=SJ-N9R"K2@$>HR*H^(+ZUMYW MM[!%5UX=U'`]A5:^OI;:821'$@SM;TXZBL8\G)Y/K0`G4Y-%+24`+75:%K@F MC2TNCB5>$TS_KTB_\`0!11X?\`^1>TS_KT MB_\`0!10!A_$8D:):D?\_:_^@/7G=>B?$?\`Y`=M_P!?:_\`H#UYU0!J>']3 M?3-0609!(FV1#7F\?3`4EFZ`#K7I.G:?=VNG1QK< MK!"$Y,HR5/J*`//]7#)>202##Q,58YX-4*W_`!!#I40<6U_)=76[+,1\I]>0 M/ZU@&@`HHHH`*,T&B@#V+P__`,B]IG_7I%_Z`**/#_\`R+VF?]>D7_H`HH`P MOB.0-#MB3@?:U_\`0'KSG>G]]?SKW.B@#RG1-=L]%LI)(H%FU"0D!W(VQKVK M/U+6;K5)3)=W6_T4'"CZ"O9J*`/#-Z9^^OYT;T_O#\Z]SHH`\,WI_?'YBC>G M]Y?SKW.B@#PLNG]Y?SHWI_>7\Z]THH`S_#__`"+VF?\`7I%_Z`**T**`/__9 ` end GRAPHIC 10 complexwideproxyonex9x5.jpg GRAPHIC begin 644 complexwideproxyonex9x5.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;@!2`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`U9_%\\=W/"FFQL(I7C#-M`'0CQE,;HG']EQ?^ M!1_^(KFI9%B7+=3TQ54W$K9(.T#TH`ZX^,KD'!TR'_P*/_Q%+_PF-UC_`)!< M7_@4?_B*XQF9CN)R>].CF>,Y!^H-`'8CQC_2N0+'`YZUK^$?^1B_P"W23_T..@#N****`/,KH_\ M3"]'_3W-_P"C&IB^]/NQ_P`3"]/_`$]S_P#HQJB)SDG\*`(_L\U]>I!`NYSP M!TKHK?PG+]DVR2()"V>.>,5!X4"OJ[C`XC+9_(?UKMQC'6@#A=0\-2VL)D7# M@==O45A2H%8J000/2O2I;R`2,C`[1U9L!?UZUDZKHMI?Q/-`!%*%)RHX/'I0 M!PJLT;A@<$5J12+-!N7KGD5EL""P[BIK:0Q/G/!X(H`N/@Y!'-:O@\#_`(2$ MX.?]$D_]#CK+=MRYK5\(#_BH3_UZ2?\`H<=`'971`U"^S_P`_].NC_P`3*]_Z^YO_`$8U#KN'WL4`+I!FCU:*.(*7F!CPW0Y_^OBN M[TNUGM!*)6#1EOW8P!@>^*X"U=XM1BEB7=)&X95]<'I7HUK=Q7MK'/;L"CC( MR?S'UH`BN-.@O(RLJJPR#\PS@^U+Y$5K`$C4`"GHSQ.QEEC`)^4=./ZTZ3D$ ML>*`/.=4B"ZO]W-_P"C&J(C((H`J^8\M=%X7U:.V\RRNCMCD;HKG'7;SW!H\P&,^I-`'IXMU1MX*_A6/K>L M)91LD;;YFZ*.U6=&$EQ86V\/)&\"D,3G!`YJV82[1)G)[D5I M>&&SXD^EI)_Z''7+PW4T(PKY7T/-=#X-G,_B(DC!%I)_Z''0!W=%%%`'F%V? M^)E>^GVN;_T8U4KB8LVU>`.#[U[^P+=6.2,X]AG(_G6G=S"WM993T12?R%5=/$=I:P1DA5,*8S["LSQ= MJ*1Z2T,3@O,P0D=AW_E0!PUS,]S<232'+R,6/U-1`4'K030`IKH/`O\`R,+_ M`/7H_P#Z''7/9XKH/`G_`",+_P#7H_\`Z&E`'H5%%%`'EM]G^T;[_K[F_P#1 MC50?[[?6M"\.-3OO^ON;_P!&-655_,BH*V/"D`G M\06X(R$R_P"0X_7%`'HKQ)(N&''3TK@?&4JG5Q`G2%`#D]SR?YBN\NITM;66 MXD^Y$A<_0"O*+F=[FXDFD)+R,6.?>@"(]:0]:7K24`%=#X$_Y&%_^O1__0TK MGJZ'P)_R,+_]>C_^AI0!Z%1110!Y;?G&H7Y_Z>IO_1C5G5ZK)HNE2R-))IEF M[N2S,T"DL3U).*;_`&%H_P#T"K'_`,!T_P`*`/+A74^!+?=>W-P?^6:!1_P( M_P#V-=1_86C_`/0*L?\`P'3_``H_L+1_^@58_P#@.G^%`&7XVO&M]*2W0X-P MVTG_`&1R?Z5P/:O4O["T?_H%6/\`X#I_A1_86C_]`JQ_\!T_PH`\R@MI9\F) MVIM)E0DD%`P)]Q7I?]A:/_P!`JQ_\!T_PH_L+1_\`H%6/ M_@.G^%`'EE=#X$_Y&%_^O1__`$-*[+^PM'_Z!5C_`.`Z?X5-:Z;86 GRAPHIC 11 complexwideproxyonex10x1.jpg GRAPHIC begin 644 complexwideproxyonex10x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;P!6`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[+5+Z6R6W$$"323R^6`\A0#Y&;.0#_=].]5O[0U3_H'V?_@8 MW_QJG:W_`*_2_P#K[/\`Z)EIU`$?]H:I_P!`^S_\#&_^-4?VAJG_`$#[/_P, M;_XU4F*K75VEL/F(SZ4`2_VAJG_/A9_^!C?_`!JC^T-4_P"?"S_\#&_^-5G? MVL<9"G'N*8-;C4X?(_"@#4_M#5/^@?9_^!C?_&J/[0U3_H'V?_@8W_QJH;6_ MAN>%89JU0!'_`&AJG_0/L_\`P,;_`.-4?VAJG_0/L_\`P,;_`.-5)10!;T^Z M^VZ=;7>S9Y\22;7*VMN7;KT`K/BMFD/FSWI4]TOFW*Y! M*K^6:LJ@VT`9]Q",>U8M]!@DUTLJ@BL>]0$$F@#`CGD@DW(QN:/J*7MNJ MEAYJCD>M<4`=_14=O)YT"2#^(9J2@!_A_\`Y%[3 M/^O2+_T`44>'_P#D7M,_Z](O_0!10!%K?^OTO_K[/_HF6G4W6_\`7Z7_`-?9 M_P#1,M.H`JO@S'/J:8=0MT;9N+-T^520*CNH7^UEEE958=`!BJ,^F37/W[EP M5;A$X&*`+MY=B&`R8^3UKG[B]F:'SF>-(B<`=35_4[+R],9"=^TY!/)`P/\` MZ]4M/C,UF$;:ZH>ZYP:`,N27?]W+#Z8J$R,N-J$\\\UI7:0Q%@,[CWQBLYF" MJQQWS0!W>BOYFDP,3G(_K5ZLCPON_L9`W.';'TS6O0`_P_\`\B]IG_7I%_Z` M**/#_P#R+VF?]>D7_H`HH`BUO_7Z7_U]G_T3+3J;K?\`K]+_`.OL_P#HF6G4 M`5[Q"8]XZK4+2HD32%,D=JND9!![UG2+ABK'E3GZT`4]1COI;=HU\L*W`.>> M:P+9;FSN-SG!'RD>M=05G:(-(>O(51_6L>]T\RREY25!.2"U`%74$.Y9",!J MS7PO7I6MJUPDD42)@;1C`K'ERY51U)H`[S0]HTBWVC^'FK]5M-A\BP@C/!51 MFK-`#_#_`/R+VF?]>D7_`*`**/#_`/R+VF?]>D7_`*`**`(M;_U^E_\`7V?_ M`$3+3J;K?^OTO_K[/_HF6G4`%5KN$LOF(/F'4>M6:*`,1]4B$1`SN';!K%O= M4,QVJ,#UK1NX`M]*F[*[LD>F>:PGM68R3-Q$/E4#JQ]!0!`7W'.LVTMWNKJ*"/[TC`#/;WH`]`L;;[1X?BN[F54FDS,SL<`[NW MY8_*GZ5IJWQ$LK(T$><(IZGU-8NK7O"Q`;;:U0+%_M<`9_2F^%5O)M1^V)(Z M0I\I.>']N>U`'?+$D4>U%``Z`=JYOQ-.EGITLA'[R7*1_4]370P7"7$>1D>Q M_G7GWC"_^V:H84.8[?Y!]>]`'.XRP^'_\`D7M,_P"O2+_T M`44>'_\`D7M,_P"O2+_T`44`8OQ"GDM]&MI86*.+H`,.HS&X_K7F9))))))] M:]PNK2VO(Q'=V\4Z`[@LJ!@#ZX/UJK_86C_]`JQ_\!T_PH`\9K1T-1]N,C#* MQH3CU)X`_6O5?["T?_H%6/\`X#I_A1_86C_]`JQ_\!T_PH`\\D1Y//=P3N&, M?G6SX:XT;8HP5E92!7F\DC2RM(YRS$DGW->N?V%H__0*L?_`=/\*/["T? M_H%6/_@.G^%`'D!&10N,8Z&O7_["T?\`Z!5C_P"`Z?X4?V%H_P#T"K'_`,!T H_P`*`#P__P`B]IG_`%Z1?^@"BKT<:11K'&BHB`*JJ,!0.@`HH`__V3\_ ` end GRAPHIC 12 complexwideproxyonex10x2.jpg GRAPHIC begin 644 complexwideproxyonex10x2.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;P!5`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`Z[6]3?2X('CMUG>:7RPK2;`/E9LYP?[OIWK*_P"$GO?^@;;_ M`/@6?_C=6/%O_'O8?]??_M*2L(T`:G_"4WG_`$#(/_`L_P#QNC_A*KS_`*!D M'_@6?_C=9)I8XC(V`0/K0!J?\)5>?]`R#_P+/_QNC_A*[S_H&0?^!9_^-U6C MTY7&#*0WTJ4:'*1Q*I/;CB@"3_A*KS_H&0?^!9_^-TO_``E-Y_T#(/\`P+/_ M`,;K+GMY+>4QRJ01^M,%`&Q_PE%Y_P!`R#_P+/\`\;I?^$GO?^@;;_\`@6W_ M`,;K(%.%`'9Z?=?;=.MKO9L\^))-N<[=P!QG\:*K^'_^1>TS_KTB_P#0!10! M0\6_\>^G_P#7W_[2DK"(K=\6_P"HT_\`Z^__`&E)6(:`(VX[@$],U/;P`H`3 MEL]0.M9NH%RT<:$C)Y/UK6M(Y#$CWK1@N2BA2,>]45<\[JD) MR*`+RD5@W<'D7#(#D=0?:K\TK"+Z51N6=BNX'V/K0!"*<*04X" M@#J?#_\`R+VF?]>D7_H`HH\/_P#(O:9_UZ1?^@"B@"CXL_U&G_\`7W_[2DK$ MQ6WXK_U.G_\`7W_[2DK&Q0!7FAW$.%^92*AFOS"QCX4@X'":`$TZ[>\24`%3'P2?6F_;IO/V.\H`X^X2*LV,:I%(RC M!;YB.]2HR"X"LI0MT/8T`3(?-5?<=?6FWX2.-8T())R1Z?YS4J*2PYXS5:]3 M;-USD9S0!6Q3@*,4X"@#IO#_`/R+VF?]>D7_`*`**/#_`/R+VF?]>D7_`*`* M*`*/BO\`U.G_`/7W_P"TI*Q\5L^*O]5I_P#U]_\`M*2LB@!A'!Q67=1R[$=5 M,BG^$'O6MBJCQ^7+M9OW;DE?8T`)I<+.Q<`KDIZ4 MENH.`7+8JT=J(2>E`#;9W2)"YRV.:BE)>5F))R:22=0KL>$C4LQ]!_GBJEC> MB[9@1M))(^E`%K%+BEQBB@#I/#__`"+VF?\`7I%_Z`**/#__`"+VF?\`7I%_ MZ`**`*7BK_5:?_U]_P#M*2LFM;Q5_JM/_P"OO_VE)7.WNI06GRD[W_N@]/K0 M!;.`,G%5TE@O9FM5.XE221_#BN?N]3FNFY.U.RBGZ,\S7,R0,RR-$0&';D4` M6!--;S-'N.5.*V+.WN+L`R,53U/?Z"N4/FF(R2-(TA/!R2.6.0`@@5QJ.5.TS_`*](O_0! M11X?_P"1>TS_`*](O_0!10!E^-[C[+I]G-C.VYX^OE2`5YNS%B2QR3U)KT#X MC?\`($M?^OM?_0'KSWL*`'"M?26-E:2WH&2Y\M1_7]*R!UK;G3R[&U&?X<[? M;C)_.@"72?+$P$C#G/)'J:BU^4*4MX^(S^\*Y[U6,IBC!4[2",=\U4N9VN)W MD8\L>/84`0=Z<"/QIIIR#-`#@/>EW8ZT$4TG)H`]9\/_`/(O:9_UZ1?^@"BC MP_\`\B]IG_7I%_Z`**`,+XC_`/(#MO\`K[7_`-`>O/>U>TW5I;7D8CN[>*=` M=P65`P!]<'ZU5_L+1_\`H%6/_@.G^%`'D:`EL#J>*UKV7_2"@R5B`C`QUQQ_ M/->C?V%H_P#T"K'_`,!T_P`*/["T?_H%6/\`X#I_A0!Y7M?V%H_\`T"K'_P`! MT_PH_L+1_P#H%6/_`(#I_A0!Y.3[TP8R:];_`+"T?_H%6/\`X#I_A1_86C_] K`JQ_\!T_PH`/#_\`R+VF?]>D7_H`HJ]'&D4:QQHJ(@"JJC`4#H`**`/_V3\_ ` end GRAPHIC 13 complexwideproxyonex10x3.jpg GRAPHIC begin 644 complexwideproxyonex10x3.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;@!5`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`Z[4-=T[3;@6]W.R2E`^U8G?@D@'Y0?0U6_X2W1?^?F7_`,!I M?_B:P?&`SXA_[=(__0Y*Q-N#0!W/_"6:-_S\R_\`@-+_`/$T?\)9HW_/S+_X M#2__`!-<.!4L4#2'"C/K[4`=I_PE>C'I<2_^`LO_`,31_P`)9HW_`#\2_P#@ M-+_\37'LD<7!C_P#/Q-_X M"R__`!-<6'&<$$'Z4JR+NQ0!V?\`PE6C_P#/>;_P%E_^)IT7B?29IHXDN)-\ MCA%S;R`$DX`R5P.37(!M+Q$,^(F/_ M`$Z1?^AR545<%3COZ4`6(H5WG9(Y6-1DNP M4^P/_P!:I=4N'L!FUCVA&`+N`"WT'I0!4N;"6>3*H[#MQQ55M-FC'S(1^%=1 M'?+/I(NMOED]B*P8-4EN;B3`4L"2`Q`&!]:`*HL28=W<'D52NX3!.5-7)-4> M:3<8@F1T6JEU/YTF2.10!6/7BKECG[3:?]?<'_HU:J]#ZBK5JVV]LD'>Z@_] M&+0!Z51110!S&K0B7Q%*3T6TA_\`0Y:A:/`RJY*\X]:GU8`^(I<_\^L/_HQQ_^NK=Y#O;;(`T9/0BLV(Q+J$$@7#APN[U M!XK5E7S[DJYPL>"%_O&@"GJJB.UCBC7"CL!P:YS[./MNV,$,PSQ74:BD<\)C M:0CK\P/2L>WD-M<^9)B4`;0M;]U)N42Q MG*$9!]:QM<3='"X[9H`SD4;`V1D=J+4YU2R/;[7#_P"C%J$9'%6+*)S?VC@? M*MU`2?\`MHM`'IM%%%`'-:K_`,C#-_UZ0_\`H1WK7,<=^B22`,&0HX]ZQV)Z**FL[MK1]V28S]Y:`+E](T46V6V M$H[,#UXKG+K%U*&CC$**.@ZLU*]YM4DMD`=:IC5#%<^8@W`<7"C/W#U(K0FC$8M0H``NK?@?]=4JY&R2QK)&W^W+484L<]JEU'_`)&*?_KTA_\`0Y:0[L?,0%'< M]J`(BO/%02,BE@S#('(ZG\J<]Q@;HDW@G`+<`D>G;$S;D"#[A_'J*+[6X);7RX(SE_4-S.8@ M#GT(YJ&@"Y(=T;.V`!PJ%@3]<56F";ALQR.<=,TPE@-I/`[4$ECDDD^]`%S2 M[MK6XY#.C#!4']:UI;V"5[6,,1(UU;X4J0?]:E9-A93W3@)\HSCH'KUK-DAAO)HHX!(9)3M+N`/J2![5U3^&-*D&'BG;ZW< MI_\`9J$\,:4CADBN%91@$7C* &BBB@#__9 ` end GRAPHIC 14 complexwideproxyonex10x4.jpg GRAPHIC begin 644 complexwideproxyonex10x4.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;P!3`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`Z^_US3].N!;W4SK*4#[5A=^"2`?E!]#5;_A*M'_Y[S?^`LO_ M`,36'XK_`.1B_P"W2/\`]#DK+H`[#_A*M'_Y[S?^`LO_`,32_P#"5:1_SWF_ M\!9?_B:X\44`=?\`\)5H_P#SWF_\!9?_`(FC_A*M'_Y[S?\`@++_`/$UQ,MS M''U.3[56;45!XC./K0!W_P#PE>C_`//Q-_X"R_\`Q-'_``E>C_\`/Q-_X"R_ M_$UPD-['*=I!4GUJP:`.S_X2O1_^?B7_`,!9?_B:=%XGTB::.)+B3?(X10;> M0`DG`&2N.IKB#3[;_D(6/_7W#_Z,6@#TRBBB@#B?%?\`R,1_Z](__0Y*RZU/ M%?\`R,)_Z](__0Y*RZ`$)P"3TJK,[./O;13[J3`5/6FPQ27"[8U)'K0!0EX/ M2H36T-(?K(<>U5;BR$?&:`,RK]E=DD1RG.>A-5I82N3Z5&>,8H`W#3[;_D(6 M7_7W#_Z,6J]I(9;=6/4<&K%O_P`A"R_Z^X?_`$8M`'I=%%%`'%>*O^1A/_7I M'_Z')656KXJ_Y&(_]>D?_HRQR!&F60-TPIH`TK@L!SQ65<@83TXK0M_\`D(67_7U!_P"C%H`]+HHHH`XGQ5_R,1_Z](__`$.2 MLNM3Q5_R,7_;I'_Z')670!/:@>>N1FKDRIN`VC=5&!MLH-3[QYA8OM;/&3TH M`HS%#?9.05[^E:#8\H,-I&.M9UU;OYC.TR[6I\-TG$"G<3Q0!4O6Y(K.=,'( M/>M"_38YR>E4"*A_P`5$?\`KTC_`/0Y*R\5I^*_^1B_ M[=(__0Y*RN:`'KD$$<582-)U;(&[I5&6ZBBX=QGTZFJJZNR3J8T^0'G/4T`: MTL`\O9M_'%551;;+G`-7GGQ"CF-]KJ&4XZBLN[+W$G]U1VH`K7(23P/LD?_H< ME/LU@@'&ZUB'_C\E MC.,_3J:`.GD>*WTJS@G3=(4'0X(&*ETF"TND:14)=#T8YQ47B$+',K@'[F`< MXQS4_AJ#9:O,2YZ?Y]ZYF@!#TJUH__(:T[_KZA_\`0Q58]*M:/_R&M._Z^H?_`$,4 M`>Q4444`>=_$#_D.)_U[1_\`H4E`21P"/4 MU4_X0W0?^?)O_`B3_P"*H`\PKI?!L`>\EG(R(UP/J:ZK_A#=!_Y\F_\``B3_ M`.*J:'PQI5N"((IX@>H2[E7/Y-0!S^O%9;O8650D?)/KR<59T&94TMGI-W*3_Z%0/#.E")HA%<>6WWD^US8/U&Z@#S*]N6N M[R6=CDNQ/X=J@KT[_A#=!_Y\F_\``B3_`.*H_P"$-T'_`)\F_P#`B3_XJ@#S M'-6M(_Y#6G?]?>.>*S99(G#H3 0/(<$'(."WK0!MT444`?_V3\_ ` end GRAPHIC 15 complexwideproxyonex11x1.jpg GRAPHIC begin 644 complexwideproxyonex11x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M<@!6`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[/4-6L]-:);N1U:4,4"Q.Y(&,_=!]1^=5/\`A*-)_P">T_\` MX"2__$UG^+O^0AI__7&?^<=81QR/UH`ZS_A*-)_Y[3_^`LO_`,31_P`)3I&, M^?/C_KUE_P#B:Y9`'ZCH*#CR,O@#WH`ZC_A*M'_Y[S?^`LO_`,32_P#"4Z1_ MSWF_\!9?_B:X>6Y"D^6,CIFE6XFQDQ\?3%`';CQ3I!Z33G_MUE_^)H_X2G2/ M^>T__@++_P#$UQ8NE)PXVG/>K"1!UW!QSS0!UG_"5:1_SWF_\!9?_B:1O%>C M*I9KB4`#))M9>/\`QVN2\OK4%ZN+"Y/_`$R;^1H`].HHHH`Y?Q:=NHZ>?^F4 M_P#..L3CIUK:\7?\A#3_`/KE/_..L;'/:@`VA8V9FP!Z=Z2VL9-0+,0ZQH.H M`/\`6KEK"+J1$\LLI.P`=.W-=5'I\$,*HJ`JG0=J`.*>*"!2+2&220_QR1X' MXHJ387/_7)OY56L9"'VD]CBKM^C4444`.0GGZ$5U9Z5PUHIAOEFB^]P2/7!!_EFNLU*]-I$WEA MFD5"^U5S\HZGDB@`F+^9C'!XK,OX_DP,_E5C2=235$8E74IUW5R^LZG/)>&, M'"`]N]`&A$`).>G>L76XMEX2.C#(JW;376X<(8P?EPH!(_"G:O$9K>*3&"&Q M^=`&19J3<+5J]+?V=T3_P`C M0!Z31110!S'BHXU+3_\`KC/_`#CK*(.,_\`Z%%684H` MGTL!KP(NQM8FM+)0QW2W\M%;##/-79>%C`Y`/>HM+8SVLEN6#K"-R,#T]OUH8EHQD\T`58 M;?RY6+#"C)`_NY/0?E4.I#;I]T1T,+_R-7(@S1J6/..>*K:D,:;=?[5L,=?(G_`/0HJJ>2"IW'YCTK1UE5;6;'=CBWG(S_`+T5 M5WCW#('2@"@4P1FM?2G6ZLYK23GC@'T-4#$0QK'U=)W1C).SKG&``H_2NAM;A;JV251M#=O0UDZO#O!,?6@#$ MM<6K2;0%5TVXJ0<)4,F\'YATY)K2T:S>:3SYU_=C[@/>@"&>`V@A1SAI$R`? MY5G:I_R#;K_KB_\`(UI>+;L#[/"O^L&7SZ=JP;B^$NG722??\EP#Z\&@#TVB MBB@#!UPXUBP_ZX3_`/H45-\P$BG:[_R&+#_KWG_]"BJK)LC3@JHLT]RNZ8_)V4<#_`.O0!V6AL&TM"N#\S?SJ MP1#!Y9YX6A#!3$5 MY#8SG<#_`'16:?!EHW6_OOSC_P#B*`.7MH!(=S`[1^M6)I=J;``..<=JZ1?" M<"C"ZA>@=/\`EE_\13#X-M#G-_?<^\?_`,10!6TNT>[\,K$'V)+,Q+>:F_EG,:?*O]?UKKTT-TM1;)JU\( M0-H4"'I]?+S5`^";(G)OK[/^]'_\10!QRBH;IO\`19LG^!OY5V__``A-E_S_ M`%]^WQ##!&Z/_P"(H`ZBBBB@`HHHH`****`"BBB@`HHH ,H`****`"BBB@#__9 ` end GRAPHIC 16 complexwideproxyonex11x2.jpg GRAPHIC begin 644 complexwideproxyonex11x2.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;P!3`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[2_U2TTYXTN7D#2AB@2)Y"0,9^Z#CJ/SJK_PD>F_WKG_`,`Y MO_B:J>(!G5]/_P"N$_\`Z%%5N?_``#F_P#B:SC@#)JC=73J2(0N[L&!^;Z4`;__``D>F_WKK_P#F_\`B:/^ M$BT[^]=?^`M`&9(;J5R<2"$](T0EF7U]JF.D;XT^:15494-U%;-O&$0`$GU-2L M``30!SKZ)'<',P+$#`/H*K2:+;VP#R/K3]#PDUQ!P`<2*!^ M1_\`9:`-0J*H:LO_`!*[O_KB_P#Z":TBM4=57_B57G_7!_\`T$T`=Q1110!B M:Q_R&K#_`*]Y_P#T**D9@(V)'0'^5+JXSK5C_P!>\_\`Z%%0P!4]>G:@!UO- M&L",SJ`W3)ZTL][:QD)).B,W0,7,4"A7<#(S^%8UQK-F6,,5I?V9`L,9:)?,";1QPSR"(8W8R1W.*H[.MOG#R#<,=SGB@#JL9JGJ\9_LF] M)_YX/_Z":TS$<\53U=,:-?Y_Y]Y/_030!UE%%%`&-JHSK=C_`->T_P#Z%%3Q M&:;J7_(:`,'Q'-,TD:"U=EQDD:;=O8>M;7AO"::Q+`[I6;']WV_SZT`:Y%9^M#_B2W_\`U[R?^@FM M`,K52US`T2__`.O:3_T$T`=)1110!DZ@,Z[8_P#7M/\`^A158`J&\_Y#]E_U MZS_^APU:Q0`T"H)QY3AP/E;@^QJV!398_,B9?4<4`95Q=6P5LNO`[FN>O;YG M4K""B_J:V[W3HK@!BOS#O6#/:2%]BC([&@"BQRF!5B&_ETFP%UG]TTZJR,/O M+SDCW_PJQ;:+/(1),&CA[#'+_P#UJR/&4N)K:T3A$7<5'J>!^@H`[BUGBNH% MFMI5DB;HR]*KZSG^Q;_)_P"7>3_T$UPF@ZS>:/N"()+=V!:-N.>F0>QKJ;S7 MM/OM%O`LOE2M;R`1R_*<[3P.Q_`T`=U1110!EWO_`"'[+_KUG_\`0H:N#I5# M4IH[?6;6:9PD:6EP68]!\\-L/J]@"3F6,[),#&3V./<4`7;V6(!F/W5&2?0"O M--1WWU_)<..6;\AZ5VOBBU.G5ET]UI_G6YX)2WCTPI% M_K`[&9N[-G&?RI[^#;1X_+:_OBN\OC,?WCU/W*L6?AI+#S/LNIWT?FG+_P"J M.3^*4` GRAPHIC 17 complexwideproxyonex11x3.jpg GRAPHIC begin 644 complexwideproxyonex11x3.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;0!6`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`Z_6=2DTV*!HH%G>:7RPK2;`/E9LYP?[OIWK._P"$@O\`_H&V MW_@6W_QNIO%'W-._Z^__`&E)690!=_X2"_\`^@;;?^!;?_&Z/^$@O_\`H'6W M_@6W_P`;JD3@$GM5+[;O8!)_N:=_U] M_P#M*2L'5W=-+G9#@[1S^-`&-=@"\=68$1F+M`5>36]:N6.W'3K7.:.\\,B@6;72.PW.2%`' MJ!@U=U>]CTQHI8(I$9WV[-V5(]?:@#I44CH:4MT!JE)*4MD M]#M','(.W:Z%<&@":X)R<<94BLNM.[;"YX!*D"LR@#>\/_\`(O:9_P!>D7_H M`HH\/_\`(O:9_P!>D7_H`HH`I^)_N:=_U]_^TI*R;B+SH)(CT=2M:WB?[FG? M]??_`+2DK.H`XJSB%O)<`_?"D'V.<5=TUC%(`,>^:GU:R6"[DN%;`E4DKCH> M/\:H61:68*.,MB@#LK$I&&:(]7/ M'5Y]@TVSNMF_9=<+G&28Y!_6O+[[4+J_E+W,I;GA>@7\*`-JZU![VTEO3E0\ MK1JO]U0%P/YTS290]RK#J'5L>PJII3B>TGT]CAI")(CZ,.,?C46GN]I?H65@ M5;YE/ZB@#N_%$/VBUP@&Y6#&_F$=>0I_(U2@UD2:NZORC@!<^E M;]E$BNS;5`'(]Z`+2F9RV`J$#C)W$G^E/XBMBP^7<2_W20 MD7_H`HH\/_\`(O:9_P!>D7_H`HH`Y_XG?\B];_\`7VO_`*`]>7UZA\3O^1>M M_P#K[7_T!Z\OH`D@E,,Z2#.58'BO2D\/6NOZ;%QE)*,0Z\_=[&@"2\\-S6\R>:JB4#*LOW7_P-:6EK)-&?WC`*>AQQ77G M:ZY."OO6"$M)99WMS,B.>=I`!QU(^M`%S38EE9G)WA#CVS7CNH@KJ%R&.2)7 M!/XFO7=#URTU*>XMK2,JEMA0W\+^NWZ5Y/K8QK=^!T%Q(/\`QXT`06UY'_^ M1>TS_KTB_P#0!10!S_Q-_P"1>M_^OM?_`$!Z\OKWJZM+:\C$=W;Q3H#N"RH& M`/K@_6JO]A:/_P!`JQ_\!T_PH`\/JWI=T;'48+GG"."P]5[C\J]E_L+1_P#H M%6/_`(#I_A1_86C_`/0*L?\`P'3_``H`AFAD73;D1R@Q/"2K#TQU'X5YY%>: MBT']CP.?-N'V;LXVJ#S^%>D_V%H__0*L?_`=/\*/["T?_H%6/_@.G^%`%*#1 MH;?1+>UM\(R$?.."3GDUY1JTBSZM>2I]V2=V'XL:]D_L+1_^@58_^`Z?X4?V M%H__`$"K'_P'3_"@#P^BO GRAPHIC 18 complexwideproxyonex11x4.jpg GRAPHIC begin 644 complexwideproxyonex11x4.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M;P!3`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`ZC5?$5OI=Z+62VN97,8DS$$P`20.K#^Z:J?\)A;'_F'WWY1? M_%USOCZ9X?$D+(3_`,>J9'K\[U3MKL7"$QJ21USVH`ZA_'>GHY5K.^!'4;8_ M_BZ3_A/=-_Y\[[_OF/\`^+KA;P%;E]V,GG`[5`WW30!Z-%XTLYEW1V-\P^D? M_P`74H\5P'_F'7W_`)"_^+KCM)L[HVJN#M0\C*G-::VUQW;"_P!XCB@#>;Q7 M`HR=.OL?]LO_`(NHU\9V;.4%C>E@<8_=?_%UA31,$),I;V6J6(Q?J%4`.H#$ MCD4`=6/&-H0I%A?'<,C_`%7/_C]3)XH@::&-K&\C\Z18PS>60"Q`&<.3U/I7 M)S1)'(J(!M7YL^E2Q*J75C@/\UU!C/\`#^\7B@#T2BBB@#BO%,,UV+?XAD<]$M8O\`T*6L6=5)`X(STH`QM0!,H;&, MYQ5O3].^5+B=@HSD*1SCUJW!8>==H3CWSS@?3UJZ8S->N'7$<8&`.YH`5KN0 MI\@.!T%1>?_X?TJY';-#/ M:.Q4[[R`\$G_`):+UIC0%/E<8*G.[TIZ+MN+$Y)0!Z!1110!Q MWB.X>'Q-L$>Y)+2,,?3#28_K6'`LWF2^HJWGCFL0W\L8)D,<(SQO(S^57K:^>8*&"'/\` M=.:`+K9QTJLL.9#MP#3;F^,8P,$_H/\`/I6?%JQE93&ZN">GE,N?8$\4`6+N M%2&#`\<$?AFJ0MS%-:2;F)>ZM\@G_IHM27TLC2^8.!CE3ZU61RT]@S.Y#7<) M&5QSYBYS0!Z#1110!PGC-@NOKUS]FB^GWI*QT;`<<<@$@CK6MXT'_%1QMD#% MM']?OR5C+*`TBASDC%`$RDIJ$6`H0MM90?EP0!_6M,$13%5QCKQZUCI?1QW: M2F,,@(&,8!..PK56X%S*L@4J!\IS[4`:$%M#.3OC5\C^,9JQ)#&B'A1G`X%0 M6[^6WU]*+@R.$$;C.>0PSQ0!*JQF?C:"?UJ38-Q7`P?;BL^1[EKAE)>2&8M&#M( M8<@]2.:CC9C/8G>"!5B&Z0H,F@"M-#*S@F>1NV`` M*?-.D"==N,EB>U/EN!D[.&[*<]*`*#DDRL68,YW9` MY4?W?KBK44+B>RFW_(;FW7;Z?O5KFVN+NVEE@D8APWSAAGD5=TS5+FXU.P@D M*;#=PG`!_P">BT`>L4444`1MSL6-365RUI=13K]Z-@WUJMFG+UZT` M>JV[K/;I-'@I(H8?0U6FTJ*3+(?+;\Q67X,U`RVDEG(P+18,8_V3U_7^==)D M#[Q`YQ0!DQ:?-$^"@/\`M"M%8.,`8`IYD8D[$W`<8SBCS2B_O00N>I/3ZT`< MCXOTO:5O(P!M&V3`Y/H?Z5@:-_R&]/\`^ON'_P!#%>BZA$DZ^6XW(RD$>U<# M96[6WB2RB<8*7D2G_OX*`/7:***`/-OB)_R,$7_7JG_H;URA'/M7L.I>']+U M6X6XOK8RRJ@0,)'7@$G'!'J:J?\`"&:!_P`^+?\`?^3_`.*H`\JIZBO4?^$, MT#_GQ;_O_)_\52_\(;H/_/DW_@1)_P#%4`>?:->&PU"* GRAPHIC 19 complexwideproxyonex12x1.jpg GRAPHIC begin 644 complexwideproxyonex12x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M:@!3`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`UO$6I:A;ZS]GM;QX(A;H^U40Y)9P3\RG^Z*S?[6U?_H*3_\` M?J+_`.(JSXG_`.1A;_KTB_\`0Y*S:`+/]K:O_P!!2;_OU%_\12'6-549.K3# MZQQ?_$5DW5_'"Q13EAU/85GRS22$LTF/QH`W)/%%_&V#JUP?I#%_\13H/$]Y M*^PZS.A/3?#$/UV5RDLKY^^Q%1-*6ZB@#OUU'5&`(U:<@^DNFM+N&[CWPMG'4'J*`+GV[5/\`H*W' M_?N'_P"(IRZCJ<=Q;$ZE-(K7$2,K1Q8(9U4CA`>AJ&FM_KK3_K[@_P#1JT`= MS1110!QOB;_D8F_Z](O_`$.2L'5)VMX!L.&8XSZ"M_Q+_P`C"W_7I%_Z')7+ MWO\`IE_Y`Z*=O'KWH`RXRTLH50SN>W6IY-/O&X,3*/2NZT?0[735+)F1VY+/ MC/TK2F6-<'8/RH`\U@T*\F_@('O4\OA^2$9<\5WKG@@"L?49&9L8XZ4`<9<6 MGV;#9R*9!?R6LXEBX(ZC/7V-:]_'F,@\YKGG&UR!ZT`=U9727ELD\?1NWH>X MJ5O]=:?]?<'_`*-6L3PH^;6>//W7!_,?_6KXCE&5;/-8=\@67<#P:U(K6>:8Y"X'5AQ5+44"C`Z@T`:'A)3YE MR<]E&/SKHW_UUI_U]P?^C5K*\,VZ1:;YH^_(QW'Z&M1C^^M/^ON#_P!&K0!W M-%%%`')Z]_R,3_\`7I%_Z')5-8-UQ%."08CG'J",5-Z4`:EW M=)&&6-0!CM7.3_/)EO7/-7YBSRXSQC-9]R>3[F@#IM$0)IP`.06)%7&_UUI_ MU]P?^C5J.RA%M:)&'#8Y)'?/-2-_KK3_`*^X/_1JT`=S1110!R>O?\C$_P#U MZ1?^AR5`O2IM?/\`Q43_`/7I%_Z')67=:K:V(Q*^6_N*,G_ZU`%U"'D*R<%> M*C6UD>\DD6?"`8"XS7/OXA:>Z0K`(TZ9+9-:]KJ15R'4CU(H`COT:-F^>4L> MI557]:RTMEW&27?@=-S9K;O=3B:+&0.:Y^]U$,I5>:`'7,Z(XVXP%Z5DR2EY M0>V>E->5W))-/L[#=0A&[C$BG'Z4`>NT444`>< M_$&YFM_$$8AD9`]HF=IZ_.]<)#UVL..?KBN-SCO7H7P\G>33;BWD^:-)/E![`CI0!SEW;' M&=O6LN6'';K7HVL^'?-5I++@]3%T'X5SD?AN_N)-OV=D&<%FX`_S[4`S::7!NB/^^/;ZUU*Z+;Z/:-(O,F/FE/7Z#T%<+K5[]J MNF5"?+0_F?6@#-9BS%B>2IY7L*Y_1+O4--U(JVGZ@UG+PQ-K)\GH< M8S^5=]10!QGB2\N+NQ>.SLKZ1SP!]CE'\UKB/[%U;_H%WW_@,_\`A7M5%`'B MO]B:K_T"[[_P&?\`PJYHNCZG'K>GR2:;>(B7,3,S6[@`!QDDXKUZB@`HHHH` "_]D_ ` end GRAPHIC 20 ezvoteballotx1x1.jpg GRAPHIC begin 644 ezvoteballotx1x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M00#)`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHI*`%HJE+JVFPOLFU"TC;T>90?YU/;W5O=+NMYXIE]8W# M#]*`)J***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B MBB@"*ZN(K2VDN)W"11J69CV`KS'5-=U?Q3>/:Z='*MN`2((SR5]6/?Z=*Z#X MEWCPZ7:VBD@7$A+>X7''YD?E7/>%6CM;21Y$#=CL/>F)H?B#3B;N.TN8#$"QD0X(`Z]#4OA^R^T7>IP789FM M[.9P"Q^5UP`?PJ;PI.+,7.I7)+1(T=N`QR#O8;OR4-^=`'5>#?%9U;_0;XC[ M8JY5P,"4#^M=97BLHFT+7V\LD26DYVGU`/\`4?SKVB)UEB21?NN`P^AH`X^3 MXB64XVG'ZUP"QK-JPB?[KS[3CT+5U_BWPC MIVEZ.U[9O(CQLHVNV0P)Q^??\*`.YT^_M=2M5N;.998F[CL?0CL:LUY9X(O[ MBT_M80M@+9/.,C(#KT/ZFM#PQXLU;4O$%K:74T;0R%MP$8!X4GK]10!Z'5+5 MM3M](LC=W6_R@P4[!D\US?C?Q!J&C75K'8R(BR(2VY`W(/O6=J.IW6K?#V2Y MO&5I?M(7(4#@$4`=5HOB2PUR:2*S$NZ-=S;UQQ^=;%>)Z1K%[H\TDMBZJTB[ M6RH;BNQ\4>)]4TQ[`6LJ+YUJLKYC!RQH`[NBO+9_'NK/9Q11,DEH#`9!'L:Y.U\?:O'+NN#',FTX38%R<<9(]Z`/4J*\F7QSKPG\PW,97 M/^K,2[?ITS^M7-3\?ZC<;!8*EHH4;CM#L6[]>,4`>FT5Y_X4\97USJD5EJ;K M*LQVI($"E6[=.,'I7?T`+1110!P_Q/@9K2PN`/EC=T/U8`C_`-!-9=C<>%Y] M)L(KR[N[::U)8JJDY[-O>1E3_`X^ZX]0:`.MTF:RO_$>MW&G"3R9;*3)<8W,2,D#L*SM)G\-S^'H M['4[FYMY%F,KA%)W-C`.0IXQ_6I=*\9V6DP>59Z$D>X#>PN#EC[DKFL/7-1L MM2G26TTQ+%N3)LDW!R<8XP`._3UH`L^)9[+5-<0Z4993(J1EW&/,?[HP,>F/ MQKUJWB\BWBBSG8@7/T&*X/P+X8E%PFJWT914Y@C8GYUZ!0!X9()#? MN(L^893MV]*=294N8KN4*>#<39"_P#?1JQ#X.UM=429UDNIK63>5Z*`IX%NW$*7%O)!(,I(A1OH1@UY9?>!]9M[IH[>`7,6?ED5U&1[@GB@"_\` M$R:-]3M(E<%XXB6`[9/'\JA3_DF3_P#7W_45%<>`]82&%HD2:5P3(!(`$]!D MGFNDT[PS=/X,FTF["PW#R%T.X,`<@CI]*`,?X9$?VG>#/)A''_`J9\3/^0Q: M?]>__LQK.'@SQ`DVQ;/';>)5QC\ZZ#Q9X9U349K$VD"R"&V6)SY@'S#/K0!H M>"+*VD\(KOA1O/+^9E<[N2.?P%>?^'O^1ATW_KZC_P#0A7J/A33[G3?#T-I= MH$F4OE0P/5B1R*XO1_!^MVNL65Q-:JL<4Z.Y\U3@!@3WH`M:]XUOVU62TTD) M$L;F(2%`SN.`/\`(J7Q!X+U)-4E MN=,3SXI7,@"N%:,DYQR?RQ1>^'/%6JV2/?RF5XV`2!I%Z8.6../3WYH`@\)' M_BG/$H_Z=U_D]4O!$,'M2UC4+>6Q@$B)%M8EU7! MR3W-;7A73[G3?#L=I=H$F4OE0P/4DCD4`>8>'?\`D8M-_P"OF/\`]"%>TUYE MHW@_6[36+*XFM56**9'<^:IP`03WKTV@!:***`"H+NSMKZ$PW<$7%]H2S74K2R>:XW-UP#Q7-7?B34['4-:5WDDM0[PQ.,?N),'9^'%=S M8V-MIUO]GLXO*B!+;'=."2=Y]>O'X4`5K,W5_P"$ MX&2=ENY;4,LO??MR#^=8.BZU?ZW?Z7:I-)&;:-GOB!C<0<`'ZX'YFNQMX(K6 MWCMX%V11J%1VDFFQV M4\T1FD96$(!9NG3-:7AEKEM-9KN2YDD,A_X^5`8#`XX[59U/2+#5EC6_MQ,( MR2N6(QGKT/M3]-TRSTJ!H+&$0QLV\J&)YP!GD^PH`X_6M2U2SUNXDN+RZ@L4 MD4(]LB2(@]''K]?UKK[^WEOK():WCVK,0PE103C\:JW'AG1KJ]-W/81O,6W$ MY(!/J1G!_*M6@#F?!37]Y8C4+S49;@2;D$3`84ANN?PJCKFN:IIOBF7[,KW% MK%`K/`/?@'\R*ZRQL;;3K86UG%Y4*DD+DGD]>M"V%LM^]\L0%RZ"-GR>5';' M2@#"\%WFH7<6H+J_M;:YOA#$(RJ6RJ=N5 M!.IYJE?>&M(U"Z>ZN[,23/COUKC[#Q+J".VMXX(5VQ1*$1]%Y%81K.K;@03@'U"YP/RK5H`6B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** ,*`"BBB@`HHHH`__9 ` end GRAPHIC 21 ezvoteballotx1x2.jpg GRAPHIC begin 644 ezvoteballotx1x2.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M+`#``P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[7[9_P!,_P!:/MG_`$S_`%JK4N:%FB>+S4D1H^N\,"/SHL!=^V?],_UH^V?],_UJE%-'.F M^&1)$_O(P(IY(`))P!0!:^V?],_UH^V?],_UJC%/%.NZ&5)%]48$?I1%/#-N M\F5)-IPVQ@<4[`7OMG_3/]:/MG_3/]:HQSPRNR1RQNR_>"L"1]:DI`6OMG_3 M/]:/MG_3/]:HI/"\K1)+&TB_>4,"1]10)X6F,(EC,HZH&&X?A3LP+WVS_IG^ MM'VS_IG^M4?/A\[R?-C\W&=FX;ORI[,%4LQ``ZD]J0%O[9_TS_6C[9_TS_6J M4U9 MM7[7_CW7\?YT`345')-%#M\V1$WMM7:7!>3+,SRQR!=A:)]NY?0^U7!I/43,2V662VTZYN+62\@ M6-T**NX@[L`X/MBF6TE)+I%K);PQ)YD/DDE'C;##/7GWK7VB"Q7\.,3!=)L*(EPP1#_``#K MBGZW"[_99/(:XABDW21*,EACKCO5ZTM8K.$10@A.X$5J_V>&[61K;'.W'(Q^7%)LEN#J$5M:O' M$'BD-L0%..XQVSUQ6Z='M6L_LY\SE_,,F[Y]_P#>SZT#2+7[));MYC^:0SR, M^7)'0YK3VJ%8I:0X.L7*Q6SVL+1*WE,NTYZ9P.E7M;@FN=+FB@!+G!V@XW#/ M(J2RL(K/>5:221_O22MN8^G-2W5O'=V[P3+N1Q@BLW)<]T,YQ`TU]<0V5J]G MYMF?W;+L)(/7'Z9IL0?[9;06UH]G(]O)$Y9=N]MO7WYQS6Y;Z5;P)*K&28RK ML9Y7W$KZ4EII%M:DG=++E=@\U]VU?[H]!6GM(A8QK,&"]TR-;*2VE7='*[*! MYG'Z_6NF<%HV"G#$$`^E4K/2+>SF$B-+(4!$8D?(C!ZA1VJ^1D8/2LZDE)Z` MCDX0]K)IT?V*2"Y2X"R3%>)`3V/?C\J0QR6:0))9R)=)=`M_?/I6[ M:Z/;6LZR(TK!"3'&[Y6,GK@41:-:Q7(F!E(#[UB+Y16]0*U]K$5C"ODDM(;C M?9R?:A<>8EUMXQGCYOZ5N:Y#+/I^V)#(0ZLT8_C4'D4O]C6OVHS9EVE_,,6_ M]V6]<>M6;RUBO;=H)@=K<\'!!]14.:;3'8YR2.6YDOX+*U>W5XD;R6&PG!YX M'3(S5K3)%_MXK!:/:1O;9:)UVDD'KBM%-(MEMYH9#)-YV`\DK;F..G/M4EEI MT-DS.KRRR,`IDE?_V MS_PE/[O[#_JS]D^T[]N/XL;?XO7/;I5__BJO^H-_Y%K8DABFV^;&C[&W+N4' M:?4>]24`9OE2?W&_*CRI/[C?E6E10!F^5)_<;\J/*D_N-^5:5%`&;Y4G]QOR MH\J3^XWY5I44`9OE2?W&_*CRI/[C?E6E10!F^5)_<;\J/*D_N-^5:5%`&;Y4 MG]QORH\J3^XWY5I44`9OE2?W&_*CRI/[C?E6E10!F^5)_<;\J/*D_N-^5:5% M`&;Y4G]QORH\J3^XWY5I44`9OE2?W&_*CRI/[C?E6E10!F^5)_<;\JNVX*P* /""#SP?K4M%`!1110!__9 ` end GRAPHIC 22 ezvoteballotx1x3.jpg GRAPHIC begin 644 ezvoteballotx1x3.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M'P`@`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`ZK7];3188G,7FO*2%3=MX'4YP?45B#QV2"1IAP.I\[I_X[2? M$+_F'_\`;3_V6N?T6PN;R:26%0881F^0#0!T'_">?]0W_`,C_`/V- M;6A:_#K(90@BF7),>[=P,[?^A+3Y_!VKW$K2SW=O)(W5FD8D_^.UM>&O#CZ/*]Q/,KS,I3 +:F=H&0>I^E`'_]D_ ` end GRAPHIC 23 ezvoteballotx1x4.jpg GRAPHIC begin 644 ezvoteballotx1x4.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M'0`?`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`U_$/BF73;XVMK'&SIC>9%)'(!&,$>M97_"<:E_SPM/\`OAO_ M`(JH]>BMYO&*2J^*K@ORH:,G([ M;5K>N]>T>>9&2Y4*BA0#;DXPRG^[[58UKPI%JEXUTMRT,CXWY3<#@`#N,=*S M_P#A`_\`J)?^0/\`[*@!FK:SI<_AQ[*&59)QC8!"5`.X$XX`'&:T/`?_`"!9 K?^OAO_05JE_P@?\`U$O_`"!_]E71:)I2:/8_9DD,A+%V8C&2<=OP%`'_V3\_ ` end GRAPHIC 24 ezvoteballotx1x5.jpg GRAPHIC begin 644 ezvoteballotx1x5.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M(P`?`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`Z#6_%$6E77V=8//D'WQOV[>`1V/K6;_PGG_4-_\`(_\`]C5# M7K0W_C*2U#!3(R`$_P"X*OP^"[:7*F\E21?O(R#(_7I[T`'_``GG_4-_\C__ M`&-=%HNJ)J]@+E$V'<59,YVD>^!ZBN3U#PK%;6EQ-;W+R^0A9B5`7CM[G^7Z M5K>`_P#D"S?]?#?^@K0!C:S=K8^-GN7!98V0D#_<%:O_``DVCR?/(/"MQJ6H/=VT\0,F-RR9&,`#C`/I67_P@^I?\][3_OIO_B:` M+>H^)-/;3KBVM#(4EC9!&R8V$CL?3V_+TJ[X#_Y`LW_7PW_H*UC_`/"#ZE_S HWM/^^F_^)KJ?#NE/H^G&WED5Y& GRAPHIC 25 ezvoteballotx1x6.jpg GRAPHIC begin 644 ezvoteballotx1x6.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M(P`;`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HI,C.,\UR6BZUJ%UXOO;&>XWVT32A$V*,8;`Y`S0!UU%(& M!)`()!P?:EH`YCQE+J%BUCJ=AG;;%Q+W&&V]1Z^4%USF*)A\L9]??V]*`'^$ B+2]M=*D;4,^?<3&8[CEL$`<^_%;M%%`!1110`4444`?_V3\_ ` end GRAPHIC 26 ezvoteballotx1x7.jpg GRAPHIC begin 644 ezvoteballotx1x7.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M1@$Y`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[6?4]/MY6BGOK:*1>J/,JD?@33/[:TK_`*"=G_W_`%_QHT__ M`(_-3_Z^5_\`1,=7J`*/]M:5_P!!.S_[_K_C1_;6E?\`03L_^_Z_XU>HH`H_ MVUI7_03L_P#O^O\`C1_;6E?]!.S_`._Z_P"-7J*`*/\`;6E?]!.S_P"_Z_XT M?VUI7_03L_\`O^O^-7J*`*/]M:5_T$[/_O\`K_C1_;6E?]!.S_[_`*_XU>HH M`H_VUI7_`$$[/_O^O^-']M:5_P!!.S_[_K_C5ZB@"C_;6E?]!.S_`._Z_P"- M']M:5_T$[/\`[_K_`(U>HH`H_P!M:5_T$[/_`+_K_C1_;6E?]!.S_P"_Z_XU M>HH`H_VUI7_03L_^_P"O^-']M:5_T$[/_O\`K_C5ZB@"C_;6E?\`03L_^_Z_ MXT?VUI7_`$$[/_O^O^-7J*`*/]M:5_T$[/\`[_K_`(T?VUI7_03L_P#O^O\` MC5ZB@"C_`&UI7_03L_\`O^O^-']M:5_T$[/_`+_K_C5ZB@"C_;6E?]!.S_[_ M`*_XT?VUI7_03L_^_P"O^-7J*`*/]M:5_P!!.S_[_K_C1_;6E?\`03L_^_Z_ MXU>HH`H_VUI7_03L_P#O^O\`C1_;6E?]!.S_`._Z_P"-7J*`*/\`;6E?]!.S M_P"_Z_XT?VUI7_03L_\`O^O^-7J*`*/]M:5_T$[/_O\`K_C1_;6E?]!.S_[_ M`*_XU>HH`H_VUI7_`$$[/_O^O^-']M:5_P!!.S_[_K_C5ZB@"C_;6E?]!.S_ M`._Z_P"-']M:5_T$[/\`[_K_`(U>HH`@MKVUO-WV6YAGV8W>5(&QGIG'TJ>J M,/\`R';O_KV@_P#0I:O4`4=/_P"/S4_^OE?_`$3'5ZJ.G_\`'YJ?_7RO_HF. MKU`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`%&'_D.W?_`%[0?^A2U>JC M#_R';O\`Z]H/_0I:O4`4=/\`^/S4_P#KY7_T3'5ZJ.G_`/'YJ?\`U\K_`.B8 MZO4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`48?^0[=_]>T'_H4M7JHP M_P#(=N_^O:#_`-"EJ]0!D0:A96FH:G'7,HA7<0^U=PWE."6QU4]2*8WB2$3+BWE:W:".82+C/SOM`()]?ZT` M7?[:TK_H)V?_`'_7_&C^VM*_Z"=G_P!_U_QJH/$EGN.8K@*L32L^P8559E.< M'U0X^H]\+#KT5Z;460#&5W#[B#L5`"WW2@"U_;6E?]!.S_P"_Z_XT M?VUI7_03L_\`O^O^-5TUI9H;2YAC/V:>;R&WD!E)X4\$]^".O/M6M0!1_MK2 MO^@G9_\`?]?\:/[:TK_H)V?_`'_7_&KU%`%'^VM*_P"@G9_]_P!?\:/[:TK_ M`*"=G_W_`%_QJ]10!1_MK2O^@G9_]_U_QH_MK2O^@G9_]_U_QJ]10!1_MK2O M^@G9_P#?]?\`&C^VM*_Z"=G_`-_U_P`:O44`4?[:TK_H)V?_`'_7_&C^VM*_ MZ"=G_P!_U_QJ]10!1_MK2O\`H)V?_?\`7_&C^VM*_P"@G9_]_P!?\:O44`4? M[:TK_H)V?_?]?\:/[:TK_H)V?_?]?\:O44`4?[:TK_H)V?\`W_7_`!H_MK2O M^@G9_P#?]?\`&KU%`%'^VM*_Z"=G_P!_U_QH_MK2O^@G9_\`?]?\:O44`4?[ M:TK_`*"=G_W_`%_QH_MK2O\`H)V?_?\`7_&KU%`%'^VM*_Z"=G_W_7_&C^VM M*_Z"=G_W_7_&KU%`%'^VM*_Z"=G_`-_U_P`:/[:TK_H)V?\`W_7_`!J]10!1 M_MK2O^@G9_\`?]?\:/[:TK_H)V?_`'_7_&KU%`%'^VM*_P"@G9_]_P!?\:/[ M:TK_`*"=G_W_`%_QJ]7/6FOSKB2^2'R9%F9#%\I7RWVD'<<<^N10!I_VUI7_ M`$$[/_O^O^-']M:5_P!!.S_[_K_C6>GBBVDE5EAE^S&!YGEX.S:<$8!Y^HSU M'U&EIFI6^J6IGMB=H8HP)!*D=N"1W'0T`5[&ZM[O6KR2VGBF06\(+1N&`.Z7 MC(K4HHH`J7.G6EW/'-/"'DCQ@[B!P/F)-(VB:D6D1A\M65(I#*$W$AG(QN.>21VY_I5^BB@`HHHH`****`"B MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*S5 MT+35651;<2YW9=B1SNX)/R\\\8YHHH`>NBZ>N,6X.`X^9F.0_+`Y/.?>K-M; 716D(B@4J@.<%BQ_,\T44`34444`?_]D_ ` end GRAPHIC 27 ezvoteballotx1x8.jpg GRAPHIC begin 644 ezvoteballotx1x8.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M+0,%`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`K)\37L]CH%U=6DFR:/;M;`.,N`>#QW-:U>:^(+W4-/DU32 M[E";:[E,L))^Z"^[(/IZCUH`[#PMJ$]_H,=U>RAY-S;G("\`^W%;5>5Z?<:E MJEA!H-@F$RS2$'[V3GYCV`KU2@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`88U, MBR$?,H(!]`<9_D*?110`4444`(1D8I(T6*-8T&%4!0/0"G44`%%%%`!1110` M4444`%%%%`";ANVY&<9Q7):+K6H77B^]L9[C?;1-*$38HQAL#D#--\7+J>GZ MK#K5B/W4,2QOCG^)B01ZM-/)=PV\4$7R91&!+^G)/0?S%`'2452U>ZFL]/::WV>;OC1=X) M4;G5>0"/7UJ@OB2WB\N&Y&+EF9"J$8R&*#&3G!*]LX[T`;E%84?BBU$=K]IA MDBFN(E=4#(V21P`-V>>Q(`^AJQ;ZQYFIO9RV\D1+A(V..OEAR&YZX)]N.M`& MK16(?$]D`Q$<[;-^_;M.P+MR3AO1ATR>O?BEC\0QNMS-]GE,$2PF/`&Z3S&* M@@9Z<#\Z`-JBL.?Q+;+<-;V\3S3I*L;("O=PI[]03CG&?IS4B>(K21H%2*X8 MS*CJ`HX#!CSSV"'-`&Q162GB"S?39+YEECCC*`JX`;Y@I7OCD,._UJE/XGVI M(]O`9H_+DD1B-N`L<;C//.=_7CMQWH`Z.BL.Y\5:?:J#,)5;#;D^7BL9O M$MD!(0DS*J[@P48<80\$GCB1>N!1=Z_%&6CA1O.#1CYQ\IRR!AD'J!(I_'OS M0!LT5@V_B)9C:*L3.)%S+)M"@'RC)@#)YP!WQSUH7Q1:L9)/*<6Z1*_F;E^\ M7*;>N.HZYQUYQ0!O45DVNN17NHPV]LC-%)$SF1ACG",`/P<9JEI/B.2X6$72 M)*9]FUK92%1B&+*V3_"%R<>HXH`Z.BLE/$-I)%$ZQSD2RB)1L&2S`,O?H5.0 M?3KBD?6TDMI'M8VWK)'#^\QA79MN#@_P]_PYH`UZ*Q[K7H-.D^SWV6G6(R$Q M!<-@$D!2VX<`]>/>G6FM+=ZAY"6\J1K%(S-(`#N1E4@#/8DCZB@#6HKEY_$= MU%#`SFUA\\1RAW!*JCJY`/(^;*`9]^E7+W79K5;3_0F+SPK(RY'R$NBD?^/_ M`)X]\`&Y165;^(+*XNX+5?,6:8-A6`^4@L"#SZJW3(XZ\C-:W\30"T@>[C=7 M:!97:->4/' M7IWXJOZFAWR@E=J;L=QR=H'X]*`.@HK%@\26[VB336UQ"26 M#JRCY=F`YZ]`3CU]JD;Q!:J&S#<#;(T6"H&9!_`.>OZ>]`&M16<+V9KZ[`\L M6UI@2`CYV)0-P@#9HK*T?6 MEU-Y(C"\AX([\ M?C0!MT5GZ')+NWAG22T7S53='(5:,.-DC`[#R.8R,$\]:T-3U.YLX8&6.+>87FD M!RP(4+E5/')W<'VZ5HRVEM-(LDMO$[J"JLR`D`]0#0]K;R)$CV\3)$08U*`A M".A'IB@#*.KW*IJ^^!4>RB:2//6HH].L8GC>.RMT>, M81EB4%1STXXZG\Z`&7U]Y%C?2PJWFVL+/^\C8*2%)&#P&''8UDRZ_?FYYYS M5RB@#,'A_3`%'V:^!@;0>O4#@'J,#T%3QZ9:1R+(L1WJV\,78G.S9G MD\_+Q_\`7JY10!FIH.FHCH+;Y75D.9&/RD*".O'"J/;'%/CT>PB614@PLA0L M-[$?(VY<<\`'L*OT4`4I-*LY&D+1-^\8.P$C`;@<@@`\'(SD4R#1=/MY1)%; MX9>F78XX88`)X&'88]_I6A10!232;)+9[=8,1/MW#<<_*`%P>X5?RSUK0HH`H2Z-82A@\)^??NVR,N[>26!P>1DG MZ=JDNM-M+O'GQ;L1M%PQ'RMU'!]A5NB@"I%IMI#<_:(XBLN6)8.>=Q).1GGD MGKTSQ3)-)LI6D+Q']XVYL2,!GU`!X/J1UJ]10!0;1K!B3Y!7.?N.RXR%!Q@\ M<(OY?6C^Q]/W;A:H#A!P2.%(*_\`H*_7`STJ_10!F_V#IGR_Z-PJ;`-[8QM* M],\G:2,]:5=#T]591`WS+M8F5R3\V[).,`=,XSA1SUXIT=A;1QVR)%A;7_4C)^7Y2OX\$]:LT4`9XT73EC6,6P"H MV]0&/#<<]>HP`/0#`Q3X=+MH[:>!E,BSR-+(6P"S$YSQCG@?E5VB@#-?0M.D MSYD#-D$',KG/RE>6/7IGBHO[$T[8J&V!555`"S$8"LH'7T=OS MK0HH`SO[#TTP^4UL&3###.QR&8,;GHH`S9=!TV8R%[9&R1E`DHF*@Y# M.,X8YSSR>1@GOFM&B@"I/IUI<2O)+%N9T*/\Q`8$8Y`.#P>M1IHUA'')&L!Q M*NUR9&)/S%NI.<[F)SUJ_10!2L]*LK*7S+>(J^"`3(S8RA%244`(````,`=J6BB@`HHHH`****`"BBB@`HHHH`****`"BBB@ C`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`/_]D_ ` end GRAPHIC 28 ezvoteballotx1x9.jpg GRAPHIC begin 644 ezvoteballotx1x9.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M.`"\`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[^LW5?$&F:1Q>72K)VC7YF_(=/QK.\9^(6T6Q6*V8?;)\[#C M.Q>[?X?_`%JX*TT8WVG/JU_J*6T3S&,/*K.7;&2>/Q_*@#M#\0]'W8\F\QZ^ M6N/_`$*MC2O$>EZNVRTN09?^>;C:WY'K^%>=OP&\A]FW'3IG M-076B+;Z:VI6&HQW<<,BHYC1D*$]#D_A^=`'L5%,'VH`ZFBL?POJ\NMZ2+R:-(W+LNU,XX^M;%`! M124M`!1110`444E`"T4E%`"T4E+0!Y/X_F:7Q3<(QXB1$7Z;0W_LQJS*I:RD MT,<&'3EFV_\`34'S#^.UB*?X^MI+'Q+%J`C5TF57&]M6?'..>_Z4`4?%EQ,GB:_59I%`DX`8CL*T?'A)CT8DY)M1_2L M#7;V/4=9N[N($1RR$KGKCM6_X\!\G1CV^RC^E`$/@[2=4FO[.^AC8V23?.WF M`#CKQG/Z5G^)+B=?$6H!9I`!.^`&/'-=;X!UFP@TN/3Y9]MT\Y"Q[3SG&.>E M<=XF_P"1CU'_`*^'_G0!+K-MKD\*ZIJ<4WDR8V.QX4'H,9X%=-\.-6N)I;C3 MIY&D1$\V,L0"/IR*V?&@'_"&7/TB_]#6N*\&7;V$^IW<:AGAL790>F=RX MH`T=4\+>(;_5+HB1WM_-;RVFGZKGC`S6#<+J_AK41$TLEO,H##:^58>OH14F MEQR^)-<2'4M0=?,RQ=VST[`'@4GBBPMM-U%;6VO7NU2,;BQSL.3\O'Y_C0!T MGBW5'U#P=IE\A,;RRC=L..0&!_#(-9_#/_`)#ES_U['_T) M:],H`SMP MTAYZT`>1_P#":>(/^@A_Y!C_`/B:BMM.UCQ1J+3[&D>0CS)V7:@P,=ACH.@K MU@Z=8E]YL[??_>\I<_RJR``,`8`H`S-`T6#0]/%O#\SM\TDAZNW^'M4NMV:: MAI-Q:2S"!)5`,A&=O(J_6%XU!/A2^`&3A/\`T-:`*6@>#X]#U`7POS,`A&#& M%&#WSFNF\^+8K^:FUCA3N&"?050NA_Q3,P_ZN4VRWK[8Q_ M=C7C^GZ4`9=]X$TXW;E-46V4XQ$5!*C'J6K>U?PW:ZUI5M;23%7MT`BF49[` M=.X.!7)^)_)'B^\-P8`OEI@SQ.XSM'3;7=6_E-H,7EDB(VPVF)3D+MXVCKTZ M#K0!S&A^"H+'5HKG^U4G>W;=Y:(`<^_)HU;P1;76I3W4VK"`SN9-C(.,G_>K M,\)&*#Q#:P6\,5WA7#3>4\/;O]:Z/QY86T^@7%V\(:YA"B-^'_"=II$US.U^MU%)"T$BE```2"TBQMM/L(XK2$1(P#D`GDD#)KSN'2=1GTW5)K>O'ICVK MIO"PQX:T\'_GB*X/PF;1=0LA/]F\WSN`T,ADSGCYA\O7%`'4WGA2%_#EGI,F MH>6MO*6$I0?.26.,9_VOTJUX8T"+P^;F%+P7#S;6*E0I4#/;)]:I_$"$W.FV M$()'F7B+D#.,AAFJOAC^T%\7W,6IKF>&S\KS.T@###?B*`&ZMX+M+S5+FYEU M=87F'PQ&;?1KV6Z@U M%;O='Y9"J!CD'J"?2NHK@_`LB+JD\4%O!,@A`-W"CIW'RL&XSWX].]=Y0`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 $0!__V3\_ ` end GRAPHIC 29 ezvoteballotx1x10.jpg GRAPHIC begin 644 ezvoteballotx1x10.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M'P`?`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`WM9\5QZ7>M:K:M-(F-Q+[0,@$=CZU1'CAF1G&EDJO4B?I_X[ M6)XO_P"1DN_^`?\`H"TNB:.UY;R733QQQY\G:W));`SCT&X'\*`-C_A//^H; M_P"1_P#[&NAT354UBQ^TI&8B'*,I.<$8/7\17F^J6#:;?/;/(DFT`ATZ$&NT M\!_\@6;_`*^&_P#05H`YGQ?_`,C)=_\``/\`T!:Z#P,;:;3)876-IDE+$,`3 MM(&#^AJ3Q%X7?4[O[5:.B2N?WGF,0#@`#&`?2LE?!6IHU_[[;_XFNLT' 42QI.FK;DAG+%W(.06/IQ["@#_]D_ ` end GRAPHIC 30 ezvoteballotx1x11.jpg GRAPHIC begin 644 ezvoteballotx1x11.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M'@`A`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`U-?\57.FZE):6T$1\O&6DR-JOC.4WP9K8,GF!>I&P5L&&)TW6&GZ;;(0NQ;Z(!W!.">N<9*@9'.:`,O M_A.-2_YX6G_?#?\`Q5=3XAP`<_K6)J2Z;#8R?;M/AR MRGR;JTB`C8XXY!ZYSU]*M^`_^0++_P!?#?\`H*T`=+1110!YOXI?R_%5PYZ* MT9_\=6M>X\76,\JN([Q,`#`"\_,#_>]L?C6GK?AB'5K@3K,()3]]MF[=P`.X M]*R_^$#'_01_\@?_`&5`%;4_$UI=Z%)811W!=@`'D`[,#SR:UO`?_(%E_P"O MAO\`T%:I?\(&/^@C_P"0/_LJZ31]-CTJP6VC.[!+,^,;CZXR?:@"]1110!__ !V3\_ ` end GRAPHIC 31 ezvoteballotx1x12.jpg GRAPHIC begin 644 ezvoteballotx1x12.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M(0`;`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`WIO&FEQ2%`EQ(!_$B#!_,BH_^$WTS_GA=_\`?"__`!5=:YH*Z9:QW$G%=YHW_(&L M?^O>/_T$4`<'X>OI MZ=L5C7WA'4H[IEM83-%QARZKGCT)JO\`\(IK7_/G_P"14_QH`M>)-TT;_D#6/_`%[Q_P#H(K@U\)ZP6`:TV@GD^8G' =ZUZ'9P"ULX+<'<(HU3/K@8H`FHHHH`****`/_]D_ ` end GRAPHIC 32 ezvoteballotx1x13.jpg GRAPHIC begin 644 ezvoteballotx1x13.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M&P`5`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[J[N$M+2:YD#%(8VD8+U(`R<53T76K;6X))K5)46-MI$@`.< M9[$UD:QX@A6;6=(N<1L+=O)?LV8L[3[Y/'^@D'H?Z E&L/PMX1=Y1>:M"41#\D#CEB.[#T]N_TZ][10`@&!@44M%`'_V3\_ ` end GRAPHIC 33 ezvoteballotx1x14.jpg GRAPHIC begin 644 ezvoteballotx1x14.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M1`$Z`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`[6XU&WMYS`_G-(%#E8H'DP"2!G:#CH?RIG]K6W_/.\_\`IO_ M`(FB'_D.W?\`U[0?^A2U>H`H_P!K6W_/.\_\`IO_`(FC^UK;_GG>?^`4W_Q- M7J*`*/\`:UM_SSO/_`*;_P")H_M:V_YYWG_@%-_\35ZB@"C_`&M;?\\[S_P" MF_\`B:/[6MO^>=Y_X!3?_$U>HH`H_P!K6W_/.\_\`IO_`(FC^UK;_GG>?^`4 MW_Q-7J*`*/\`:UM_SSO/_`*;_P")H_M:V_YYWG_@%-_\35ZB@"C_`&M;?\\[ MS_P"F_\`B:/[6MO^>=Y_X!3?_$U>HH`H_P!K6W_/.\_\`IO_`(FC^UK;_GG> M?^`4W_Q-7J*`*/\`:UM_SSO/_`*;_P")H_M:V_YYWG_@%-_\35ZB@"C_`&M; M?\\[S_P"F_\`B:/[6MO^>=Y_X!3?_$U>HH`H_P!K6W_/.\_\`IO_`(FC^UK; M_GG>?^`4W_Q-7J*`*/\`:UM_SSO/_`*;_P")H_M:V_YYWG_@%-_\35ZB@"C_ M`&M;?\\[S_P"F_\`B:/[6MO^>=Y_X!3?_$U>HH`H_P!K6W_/.\_\`IO_`(FC M^UK;_GG>?^`4W_Q-7J*`*/\`:UM_SSO/_`*;_P")H_M:V_YYWG_@%-_\35ZB M@"C_`&M;?\\[S_P"F_\`B:/[6MO^>=Y_X!3?_$U>HH`H_P!K6W_/.\_\`IO_ M`(FC^UK;_GG>?^`4W_Q-7J*`*/\`:UM_SSO/_`*;_P")H_M:V_YYWG_@%-_\ M35ZB@"C_`&M;?\\[S_P"F_\`B:/[6MO^>=Y_X!3?_$U>HH`J6^HV]Q.($\Y9 M"I<++`\>0"`<;@,]1^=6ZHS?\AVT_P"O:?\`]"BJ]0!1A_Y#MW_U[0?^A2U> MJC#_`,AV[_Z]H/\`T*6KU`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`%& M;_D.VG_7M/\`^A15>JC-_P`AVT_Z]I__`$**KU`%&'_D.W?_`%[0?^A2U>JC M#_R';O\`Z]H/_0I:O4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`49O\` MD.VG_7M/_P"A15>JC-_R';3_`*]I_P#T**KU`&7)<+::U/)+%<%)+>(*T<#R M`D-)D94''4?G4W]K6W_/.\_\`IO_`(FJOB&\N;..%X)A%&-S2E0K/M`ZA6ZC MUQS54^(F@LY)?+,[>;<;=SA!MC]\?3`Z_6@#4_M:V_YYWG_@%-_\31_:UM_S MSO/_``"F_P#B:ST\2J9I5EMA'&BR$.9,@E%1CD8X^^/6H)/$L_EP3QVJ",QW M#2QNY!S'C@$C^8[]L4`:_P#:UM_SSO/_``"F_P#B:/[6MO\`GG>?^`4W_P`3 M6?#XC:>YCBBL]X:1U9A+]U55&)Z<_?Z>WOQ'#XBDU"U0V\#6[RSQQ*[J2H5L MG/(&3@$8Z9(Y-`&I_:UM_P`\[S_P"F_^)H_M:V_YYWG_`(!3?_$U0GUJ4VEY M-$@B:RF`:-CN,B9QZ<9[8S_,5NT`4?[6MO\`GG>?^`4W_P`31_:UM_SSO/\` MP"F_^)J]10!1_M:V_P">=Y_X!3?_`!-']K6W_/.\_P#`*;_XFKU%`%'^UK;_ M`)YWG_@%-_\`$T?VM;?\\[S_`,`IO_B:O44`4?[6MO\`GG>?^`4W_P`31_:U MM_SSO/\`P"F_^)J]10!1_M:V_P">=Y_X!3?_`!-']K6W_/.\_P#`*;_XFKU% M`%'^UK;_`)YWG_@%-_\`$T?VM;?\\[S_`,`IO_B:O44`4?[6MO\`GG>?^`4W M_P`31_:UM_SSO/\`P"F_^)J]10!1_M:V_P">=Y_X!3?_`!-']K6W_/.\_P#` M*;_XFKU%`%'^UK;_`)YWG_@%-_\`$T?VM;?\\[S_`,`IO_B:O44`4?[6MO\` MGG>?^`4W_P`31_:UM_SSO/\`P"F_^)J]10!1_M:V_P">=Y_X!3?_`!-']K6W M_/.\_P#`*;_XFKU%`%'^UK;_`)YWG_@%-_\`$T?VM;?\\[S_`,`IO_B:O44` M4?[6MO\`GG>?^`4W_P`31_:UM_SSO/\`P"F_^)J]10!1_M:V_P">=Y_X!3?_ M`!-']K6W_/.\_P#`*;_XFKU=Y_P"`4W_Q-9,7B6>XN;58[545IFCF#LV< M!-X*Y4'IZCG&.^:T-#U@:Q%(XMWA"X(W`X8'IR0.?7&?J:`".X6[UJ"2**X" M1V\H9I('C`):/`RP&>A_*M2BB@"*>V@N0HGACE"GBB@"P+&T7I:P]",[!SD`'\P`#]!0ME:*J*MK" M%0EE`C&%)ZD>E%%`!#8VEN5,%K!$5SM*1A<9`!Z?0?D*1]/M'A>$V\:H[;V" M#;ENN GRAPHIC 34 ezvoteballotx2x1.jpg GRAPHIC begin 644 ezvoteballotx2x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M'`,!`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HK.\07\NF:)=7L"HTD*@J'!(/('.,5435+^QU&.UU<6K)+ M%)*LML&&W9@G5;X\WY6W)GIE<9_2@#1HJC::O87MP\%OIK4!!`(Z&@!:***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHK`\2ZW+H=WI\NPO;2;UF4#_=P1[]?UH`-.\2_;M?N-+^R>7Y+./-\S.=I MQTQ_6M^O,=-UFUL/%&H:BQ+Q.96C`'+Y;(^E=EX3U"[U33I[N\!!>X;RQC`" M87`'MG/ZT`;E%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%5=4DEB MTJ\D@)$J0.R8&3N"G'ZT`9OB7Q%_8'V;_1?M'G[O^6FW;C'L?6MF)_,B1\8W M*#BO,?$NO)KEGI[%=EQ%Y@E4=,G;@CV.#71Z=XCEU/Q#965DK?8XE;S6V_?( M0\GT&<4`==1110`4444`9WB"PEU/1+JR@9%DF4!2Y(`Y!YQFHAH%C;6UT+*` M)/-"T8DD=G/(Z98D@?2M:B@#$?1)6T#3[))(H[FR\IU;:6C+H.3VZ5U=%`&$VCWM]>K+J4UN(XH)((Q; M!E+;P`6.>G3@#/UIMMHU^?[.@O)K8V^GL&C:%"KR%5*KD=%&#SC.?:M^B@#! MM-&OK>\FDBN(K:)T<;(6=E9VZ/L;A2.3QUS56S\/:A'PZ9[UU%%`'.7&A7CZ?80PO`ES;6RP^>KNC(P`!((^\./ND5T,898 MU5VW,``6QC)]:=10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M5;4+&WU*T>VNHP\;_F#ZCT-6:*`.#L/`DBZLXO'#6,9RI4\R^WM[_I7=1QI% M&L<:A$4855&`!3J*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@#BO$?@QKB[6XTH(GFM^]C)P%_VA[>WY5T>AZ-;:+9B&`;I&YDE(Y<_X>U: - -5%`!1110`4444`?_V3\_ ` end GRAPHIC 35 ezvoteballotx2x3.jpg GRAPHIC begin 644 ezvoteballotx2x3.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M4@%E`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`J(7$!N#`)HS,!DQ[ANQZXZU+7+IN\Z#_GO_:[[O7;AOTVX MJHQN!T:W$+S-"DT;2IRR!@67ZBB.X@EE>..:-Y(_OJK`E?J.UN5.\6S"YT[W$"3)"\T:RO]U"P# M-]!WH-Q")Q`9HQ,1D1[AN(]<5S5_YG_$TW9\_P`ZU\OU_AQC\E4/$'_'E#G[GVF+?Z8WC_ZU9K;O MM9Z^1_:P^GW?_BOUJ8PNK@="UU;I;B=IXEA(R)"X"G\>E2JP=0RD,I&00>#7 M+VN?M-IN_P!1_:5QM].C8_7-:OAW/]DKG.WS)-G^[O./PIRA9`7VN(5F6%IH MQ*PRJ%AN(]A4M;C-J'7SOMT&SUQ\N,?AG]:ZBIE&PPHHHJ0"BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"HA;P" MX-P(8_.(P9-HW8],]:EHH`B6WA29IDAC65^&<*`S?4T1V\$4KRQPQI))]]E4 M`M]3WJ6BBX#)(TEC:.1%=&&"K#((^E--M`;?[.8(S#C'E[!MQ].E2T47`BDM MH)8!!)!&\0QB-D!7CIQ1+;03(J2P1R*ARJL@(7Z5+13N!%-;P3E#-#'(4.5W MJ#M/J,]*)+>&61))(8W>/E&902OT/:I:*5P(GMX))DF>&-I4^ZY4%E^A[4&W MA,XG,,9F`P)-HW`>F:EHHN!$+>`7!N!#'YQ&#)M&['IGK0MO"DS3)#&LK\,X M4!F^IJ6BBX#71)$*2*KHPP589!%,^S0?9_L_D1^3C'E[!MQ].E2T4`0M:V[6 MXMV@B,(&!&4&W\NE2JH10J@*H&``.!2T4`1-;PM,LS0QF51A7*C[)B6421M&F MXE2$W#DXXSO/8XP*J*3W`MG4[,+N\\$%4?(4GAFVKV]>*6WU*TN93'#,&<;L MC!&-I`/7W(K)/AZ;"XF4LJ1_QLH+"4NV0.HP>,_I3M-T*>TU"::22/RIHI%( M4G.YGSGI_=`_$5?+"VXM36M;^VNV98)0Y4!L8(R#T(SU'N*B.L6*F8-.1Y.[ M?E&'W3AL<4/X8P[9]`<],]?:E:-]P+TVKV,#LDDQ#*S*V(V.-H!.<#H`PYZX&K!>V]S*T<,H9EZC!&><<' MOSQQ5BL_2[.XLHU@D:)H8EV1E<[F&L2]\0?97O5%J9/L M^-GSX\TY4-CCC!8>M:4[WT0F5I;B42:IY5Y-(J6DC9W'Y7`ZXP-OMCJ.B[AD]?FZUMCQ$'&Z*UWH[^7$?,^^Y"$#IQD.?\` MODU.^KSQS7$(1189 MR2&\UAS@\DC;GUJVM]+-X>M+EKED9Y9'*M(R&0;FPN\=".,#OC%6I/$JQ2!' MM2&\P1G]YT.Y@W;MMS[Y[41^)5>YA@-M@S>64/F9!#/M]/3FAW?V0*VH-(OV MN:.>[C*V"S*K3,-K'<"2`<9P!^-0_:G6:VCNKIHU$LZR(]V\>S!0`%^K=R,] MM;M!OQ;^<&WXRGMUI]KK0N+NV@\@J)X%DW[\[692VSISP" M7DD`B*`!BC;L[MI`;CM@FM&LFFMQA1112` M****`"BBB@`HHHH`****`"BBB@`HHHH`S9?]:_\`O&F4^7_6O_O&F4`%%9D^ MH74-ZT(@W`[A$-I&XA-P.[IU!&*@.JW8@=A$"T3$.WDN/X0P^7.1UQD\=ZOV M;8KFU143RO\`9&EBCWOLW*F>IQP*S!J=V8'(B!>-]KMY+\#;N'RYR.3C/XTE M%L9L45F0ZC,][%&\6R*;[GRG^YNSNZ>HQUJ?4;B>VB5X4W#)W'86P,$]!ZGC M/:CE=[`7**R3JESYR@6^5D4F)=I^8[-P^;IUR,59TV[DNDE$JX>-]I.PIG(! MZ'D=:'!I7"Y=HK,GU"ZAO6A$&X'<(AM(W$)N!W=.H(Q40U.[,#D1`O&^UV\E M^!MW#YIQG%98U.\,+GR1OC;YSY+\# M;G[N<]>,].])1;&;-%,@D\Z".7&-ZAL>F15+4]1-G)!"B,9)CP?+9P`.O"\D M^U2!H4^+_6I_O"J2:A"[J@2YRQQS;2`?F5XJ[%_K4_WA0!I4444`%9+^'K)F M#YD$GF&1I!MW.2P;#''(R!6M133:V`S;;1+6U55B,@5;DW(&1@,5VXZ=,&I9 M=,@E-P6:0-/(LA((RC*``1^0ZYJ[13YGN!D3>';*<1[VFW()!N##+%\Y8\=> M33CX?LS+!)NE!@,13!'_`"SSCMWSS6K11SR[A8R9]`M[MH9+N:666,("V0-Q M4L98V1ED;&["J%"YQTP.E:M%'/+N%C)?P_;-(72>X MC;?O&UE^7EC@9!XRQ/UITNA6TIF)FN%,N0=K@8S][MW[YS6I11SR[@4;'2K: MPE+P;_N[55CD*.^/J0#5ZBBDVWN`4444@"BBB@`HHHH`****`"BBB@`HHHH` M****`,V7_6O_`+QIE3R6\K2,0O!)/44W[-+_`'/U%`%)K*V:9Y6B!=P0V2<' M(QTZ=.,TS^S+0Q",Q94$MR[9)(P,HR@H1@CL15;^S;3R1%Y1VAMWWVSG&.N<]./I6A]FE_N?J*/LTO]S]10FUL M!36S@2X\]8P),8SDXZ8Z=,XXS2W%K#=*JS)N"G(Y(QV[5;^S2_W/U%'V:7^Y M^HHNP*1L;8RM(8AN9=IY.,8QTZ=.*?;VT5K&4A7:"59%)7@$'J*`+U%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 %44`?_]D_ ` end GRAPHIC 36 ezvoteballotx2x4.jpg GRAPHIC begin 644 ezvoteballotx2x4.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M6P%=`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HJCK%U)9:=)-%CS,JJDC(!9@,_K6=+J5U!]JM?.+RQW,4* M3,HSA\')`&,CGMZ52@V!OT5@G4;H9M/-/F_;1;";:,[=N[.,8SVZ8J_H]U+< MVTHF;<\,[PEL8W;3C-#@TK@7Z*P;_4[F*>\ECDVQ65M!$F[&);>5M&"#C)SUSD^N*?(Q7-ZBL%-3N3=1S&3]S)>M:>3 MM&``#AL]8EW#++Y>T`1[>0`1ST]*3;%:/"GE;00^_&F>U+E>@RY16;IUQ/\`;KBS MGE,WEHDBR$`'YLY'``ZBM*DU8`HHHI`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110!6O[1+ZSDMW8J&P0PZ@@Y!_,53;1_,B MG,LX-S-*LQE5,`,N-N%R>./7N:U:*I2:V`RSI&8B?.'VG[1]H\W9QOZ?=STQ MQC/XU:T^S%E;E-^]W=I'?&-S,M.BCF8&5:Z* ML$D>^7S(84>.%-N"H8\Y.>?3H*2WT1$39<3&9%@-M&-NTJAZYY.3TYXZ=*UJ M*.>0&2NB*\4Z74_FM)`+<,J;=J#IW.3DYS^E*=&$L-R+F??-.$7S%3;MV8DCR3@W3S+/YJI@!E&%^7/3`]>YJW868LXI`7\R261I9' MQC+'T'8=*M44.3>@&9>Z0+J>5Q-L2X18YTVYW`'(P<\'G'>DN=&6>XD82[() MFC::+9G<4Z8.>.@SP>E:E%',P,Q](5[IW\[]P\RSM%MY+@#'.>G`.,?C5R]M M4O;.6VD)"2J5)'45/12YF!2LK%K>:6>:42SRA5+!=HVKT&,GU-7:**&[@%%% M%(`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BH+V9+>TEDDD$8"GYB<<]JP+:XO5GM$EEF\_%N!&Q/SH4_>,1W.<\^P]:I M1NK@=-17%B\U*2RB`GD25H+?81*S;B9&&3TY/0]>G6KUO>R3Z/I\\T\L<$TT MIFD#D%1E]HW=0,X'Y"K=)H5SIJ*Y^6^EE\,1LTKFZVP&3RVVOAG`ZC&,C-59 MY;ZUCNXIYYHY);E)4PN=517&W%_1QS6<\4S[(GC M97;(&`1R:F>``HZ=#M'UJ\EI:75U]H6[:1YEK&#+`DP43Y.E/?7F6.[D$-N5MI?+(-SAL[P MF6&WY1WSS2K8Z9.D"1W@9C$D4+)*I8^620R^I'>E-A9R6<[C4I/LLLAE9@\> MQ6WAL@[?4=S3]SL&I,FHW+75I"+>W9;A6?S$N"P`!&.%]?I[UFUV0R:BFHZR(KHP96 M&0RG((IU2`4444`%%%%`!1110`4444`%%%%`!1110`5GRR.)7`=L9/>M"LV7 M_6O_`+QH`/-D_OM^='FR?WV_.F5"]W!'<+`[XD;'&#CGID]!FBUP+/FR?WV_ M.CS9/[[?G5)=2M&C9UE)"D#[IR<],#'.?:K$4B2QK)&VY6&0:;36X$OFR?WV M_.CS9/[[?G5(:C:E682DA2!]PY.3@8&.>?2E%_;-(B"7+2`%<`XYZ9/;IWHY M7V`N>;)_?;\Z/-D_OM^=03S1P1[Y3A<@<`DDGH`!UJ(7]LTB()BS`N>;)_?;\Z/-D_OM^=5H+N"Y9EA?<5Z\$?B,]1P>122W<$4ZPR/AV MQ@8)ZG`R>@R?6BSV`M>;)_?;\Z/-D_OM^=4AJ-J59A*2%('W#DY.!@8YY]*L M12)+&LD;;E89!H::W`E\V3^^WYT>;)_?;\ZI#4;4JS"4D*0/N')R<#`QSSZ5 M8BD26-9(VW*PR#0TUN!+YLG]]OSH\V3^^WYU#--'!$TLK!449)-.1@Z!AG!& M1D8/Y&D!8MY':=078CG@GVJ]6?:_\?"_C_*M"@"CK$,]SITEO;J"\I"$GH%) M&X]1VS7-7F@ZHZR&.,%XHS%&58`2(7?(QGC`8=?2NSHK2-1QV%8Q'TN0+K)2 M+)N(V2`;AW4DX],NQZU'/IER\LJ+"I$[0,)=P_=;,9&.O8XQZFM^BESL+'(V MFAZA%?!GB`AWL#\X^ZJXC[]R:M^&[&]TRY>&X@;RY(HPK[@0N`2PX_VFQ71T M4W5;5F%CBK+0]6LWBD6#)AC81CS%X9HVSW_O$5IPZ5>6VGR6OEI*L<\4L:KA M0X&WN?EV\\8KJZ*/:L+%/2H)+;3XXY1A\LQ7.=N6) MQ^&<5>,=*T+&W-K:1PDY*CDCU)S4]%-R;W`R!IV/:SL&8-D,6QCH1SWY%:]%/VDA6*]["T]N4149MP M(#DKT/J.0?>J"Z0ZM;#,>V/:SL&8-D,6QCH1SWY%:]%)2:5D,H6%B]O>G7H.*2_L'NKJ)U$84%=S;F#<-G&!P?QZ5H44-@Z$,0,C MUQS0FFQ%!O>Y#8Y`NY2,_P#?57:*D"6U_P"/A?Q_E6A6?:_\?"_C_*M"@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`IAC0G)1<_2GT4`,\J/^XOY4>5'_<7\J?10`SRH_P"XOY4>5'_<7\J?10`S MRH_[B_E1Y4?]Q?RI]%`#/*C_`+B_E1Y4?]Q?RI]%`#/*C_N+^5'E1_W%_*GT M4`,\J/\`N+^5'E1_W%_*GT4`,\J/^XOY4>5'_<7\J?10`SRH_P"XOY4>5'_< 37\J?10`T1HIR$4'U`IU%%`'_V3\_ ` end GRAPHIC 37 ezvoteballotx5x5.jpg GRAPHIC begin 644 ezvoteballotx5x5.jpg M_]C_X``02D9)1@`!`@$`2`!(``#_X0/[17AI9@``34T`*@````@`!P$2``,` M```!``$```$:``4````!````8@$;``4````!````:@$H``,````!``(```$Q M``(````4````<@$R``(````4````AH=I``0````!````G````,@```!(```` M`0```$@````!061O8F4@4&AO=&]S:&]P(#7U5F9VAI:FML;6YO8W1U=G=X>7 MI[?'U^?W$0`"`@$"!`0#!`4&!P<&!34!``(1`R$Q$@1!46%Q(A,%,H&1%*&Q M0B/!4M'P,R1BX7*"DD-3%6-S-/$E!A:BLH,')C7"TD235*,79$55-G1EXO*S MA,/3=>/S1I2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V)S='5V=WAY>GM\?_ MV@`,`P$``A$#$0`_`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`Y+3`Y+3$T5#$U.C0R.C$P6CPO9&%T93X*"0D)"0D\:V5Y/F-O;2YA<'!L M92YP3X*"0D\+V1I8W0^ M"@D)/&ME>3YC;VTN87!P;&4N<')I;G0N4&%G949O3X*"0D)"3QD M:6-T/@H)"0D)"3QK97D^8V]M+F%P<&QE+G!R:6YT+E!A9V5&;W)M870N4$U! M9&IU3X*"0D)"0D)/')E M86P^+3$X/"]R96%L/@H)"0D)"0D\3YC;VTN87!P;&4N<')I;G0N=&EC:V5T+F-L:65N M=#PO:V5Y/@H)"0D)"3QS=')I;F<^8V]M+F%P<&QE+G!R:6YT:6YG;6%N86=E M3YC;VTN87!P;&4N<')I;G0N=&EC:V5T+G-T871E M1FQA9SPO:V5Y/@H)"0D)"3QI;G1E9V5R/C`\+VEN=&5G97(^"@D)"0D\+V1I M8W0^"@D)"3PO87)R87D^"@D)/"]D:6-T/@H)"3QK97D^8V]M+F%P<&QE+G!R M:6YT+E!A<&5R26YF;RY034-U3X*"0D)"3QD:6-T/@H)"0D)"3QK97D^8V]M+F%P<&QE+G!R M:6YT+E!A<&5R26YF;RY034-U3X*"0D)"0D\9&%T93XR,#`X+3`Y+3`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`N,#PO3X*"0D)"3QD:6-T/@H)"0D)"3QK97D^8V]M+F%P<&QE+G!R:6YT+E!A M<&5R26YF;RY0355N861J=7-T961087!E3X*"0D)"0D\87)R M87D^"@D)"0D)"3QR96%L/BTQ.#PO3X*"0D)"3QD:6-T/@H)"0D)"3QK M97D^8V]M+F%P<&QE+G!R:6YT+E!A<&5R26YF;RYP<&0N4$U087!E3X*"0D)"0D\3YC;VTN87!P;&4N<')I;G0N=&EC:V5T+G!R:79A=&5,;V-K/"]K97D^ M"@D\9F%L3YC;VTN87!P;&4N<')I;G0N=&EC:V5T+G1Y<&4\ M+VME>3X*"3QS=')I;F<^8V]M+F%P<&QE+G!R:6YT+E!A9V5&;W)M8714:6-K M970\+W-T'1)D%L:6=N96YU;0````]%4VQI8V5(;W)Z06QI9VX````'9&5F875L=`````EV M97)T06QI9VYE;G5M````#T53;&EC959E7!E96YU;0```!%%4VQI8V5"1T-O;&]R5'EP90````!.;VYE M````"71O<$]U='-E=&QO;F<`````````"FQE9G1/=71S971L;VYG```````` M``QB;W1T;VU/=71S971L;VYG``````````MR:6=H=$]U='-E=&QO;F<````` M`#A"24T$$0```````0$`.$))3004```````$`````CA"24T$#``````"Z0`` M``$````-````#P```"@```)8```"S0`8``'_V/_@`!!*1DE&``$"`0!(`$@` M`/_M``Q!9&]B95]#30`"_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D) M#!$+"@L1%0\,#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P, M#`P,#`P,#`P,#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P, M#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`#P`-`P$B``(1 M`0,1`?_=``0``?_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$` M`04!`0$!`0$``````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,! M``(1`P0A$C$%05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U M%J*R@R9$DU1D1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?56 M9G:&EJ:VQM;F]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$# M(3$2!$%187$B$P4R@9$4H;%"(\%2T?`S)&+A7U5F9VAI:F MML;6YO8G-T=79W>'EZ>WQ__:``P#`0`"$0,1`#\`Z?-ZSU2SK>=BLONHQ\:R MG&QVXPIEUUS/5K]=V7BYGLL=[/49L]']RQ$9G]8=U*[HOVY\U9E50S?3I]8U M68M^,I]0]&[*^SV49/I^G0YK6X MV;NR/3;ZF+N]/\_]%:BLZ?G#J-V<+\(]4?F56.P?7=M:&XM^,RGU_1];[191 M;9E?T+_!?00UX=-^'_G^G_T-)W^K_]D`.$))300A``````!5`````0$````/ M`$$`9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`;P!P````$P!!`&0`;P!B`&4` M(`!0`&@`;P!T`&\`&%P+69I;'1E#IX87!M971A M('AM;&YS.G@])V%D;V)E.FYS.FUE=&$O)R!X.GAA<'1K/2=835`@=&]O;&MI M="`R+C@N,BTS,RP@9G)A;65W;W)K(#$N-2<^"CQR9&8Z4D1&('AM;&YS.G)D M9CTG:'1T<#HO+W=W=RYW,RYO&UL;G,Z:5@])VAT='`Z+R]N&UL;G,Z>&%P34T])VAT='`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`!U^ M4]-U+2[-ZMR^$QF)^,/RA;.=N2[2Q$N9V+]XN'J81D*YOX9E(Q!40M\JM<[? MMUI8V,*3RQ[[N%W:7$;L[L9+G;KK<;,Q!-!\.>UM8;RCR,;67Z:18%N)1.MW MQK:[G%U>!DB&QVT-]!(I2-[2(;M%!*\JRI(MK/'?W%:A`+JSBN8)UD@`C76' MZ`[PI/D7V+W[3=H_"6K^96?^9_3'8>9^+$?R,W,VTMOX3:'P6[ZZ0VSUQ5=J MQ])-V1#VYN_JS?&6WY3F7K%*62@P7 MZS^&O@27\MQ8L^VC_&*TB@AC1G$IN/%F1C;JI4->"[W=-RW6EDS6\G*EK8$A ?_P#&$M([V\N5W-A]/X5)=RE:W5#&+?1$Z"8S55?_V3\_ ` end GRAPHIC 38 genericproxycoverfinalx1x1.jpg GRAPHIC begin 644 genericproxycoverfinalx1x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@$ M$@,A`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HIKAF1@K;6(P&]#ZUQ\NLZI%*\;W&&0D$;%Z_E6M.DZFQA6KQH MVYEN=E17%_V]J7_/S_XXO^%==:SK=6LU.I1E3U8J.)A6;42:BBBL M3H"BBB@`HHKD]0UV\%]*MM-LB5MJC:#T[\BM*=*51V1C6KQHJ\CK**XO^W=2 M_P"?G_QQ?\*ZG3#16,'G3;MNKC3E)72, MY580=I.QKT53L-2@U#S/(W_N\9W#'7/^%7*EIQ=F5&2DKH****104444`%%% M%`!1110`4444`%%%%`!115>]O(K&#SIMVW./E&::3;LA-I*[+%%9'_"26'_3 M7_OG_P"O5NPU*#4/,\C?^[QG<,=<_P"%4Z4.Y?H>OZ_SKF*N:5=?8]0BE)PF=K?0U MZ%:'/!H\?#5/9U$SNJ*2EKR3Z`****`*6K77V/3I90<-C:OU-<-6_P"*;K?/ M':J>$&YOJ>GZ?SK`KT\-#EA?N>)C:G/4Y>Q;TNU^V7\4./ESEOH.M=UTZ5@^ M%K39!)=,.9#M7Z#K^O\`*M^N7$SYIV['?@J?)3N]V%%%1S3PP+NFE2,>K,!7 M-N=C=MR2BL]M;TY#@W(_!2?Y"G1ZQI\GW;I!_O97^=7[.?8S]K3O;F7WEZBF MHZ2+N1@RGN#D4ZH-`HHJ.6:*!0TTB1J3C+L`,T`W;GADU#4\3'-.KIV.C\)?\O?_``#_`-FKHZYC MPO<0P?:O.FCCW;,;V`SU]:WO[0LO^?RW_P"_J_XUR8B+=1Z'?A)15&*;_JY9 MHJ&*ZMYFVPW$4C8SA7!-35@TUN=::>P444A(`R3@#N:0Q:*I2ZM80G#W29'] MWYOY5&-)_^05_VT']:TY9HH%#32)&I.,NP`S6-XBN[:;3=D5Q% M(V\'"N">]:T4^=,PQ$E[.2OT.6KH_"7_`"]_\`_]FKG*W_"]Q#!]J\Z:./=L MQO8#/7UKT,0KTV>1A&E6BW_6AT]%5O[0LO\`G\M_^_J_XT^*ZMYFVPW$4C8S MA7!->7ROL>XIQ>S)J***10445#/=6]N/WTTSGV(56FW927WEVBD5@P!4@@]Q2U!H%%% M%`!1110`45!<7EM;?Z^=$/H3S^553KNF@X^T_P#CC?X52A)[(B52$=&TC1HJ MM!J%IJ..\1_\`(7D_W5_E656KXC_Y"\G^ZO\` M*LJO6I?`CY_$?Q9>IWNG?\@VU_ZXI_(59JMIW_(-M?\`KBG\A5FO*E\3/?A\ M*"BBH)KRV@XFGC0^A89I)-[#;2U9/16&``S2I&#TW ML!G\Z6X-VW)**K?VA9?\_EO_`-_5_P`:DAN8)R1#-'(1UV,#C\J?*UT$I1>B M9+1112*"BBFNZQH7D8*HZEC@"@!U%5O[0LO^?RW_`._J_P"-.CO+:5PD5S"[ MGHJN"33Y7V)YXOJ3T444B@HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@#A]8M/L>HR1@81OG3Z&J-=5XGM/-M%N%'S1 M'!_W3_\`7KE:]:C/G@F>!BJ?LZC70[;1+K[7IL;$Y=/D;ZC_`.MBM"N4\+W7 ME7C6['Y91D?4?_6S75UY]:')-H]?#5/:4TPILCK%&TCG"J"2?:G5C^);KR-/ M\E3AYCC\!U_I6<(\TE$UJ34(.3Z'+W4[7-S),W5V)^E,BC::5(T&6U.KE?$.IF>8VD+?ND/SD?Q'_ZU>93@ZDK'N5JL:,+C]3\1.Y,5E\J]/,( MY/T]*PY)'EC5B^*O\`D&Q_]=A_)J/#VIFZB-M,V98Q\I/\2_\`UJO:G8+J-NL+2%`K MAL@9[$?UKSXKV51 M)4IRIOED%%:>C:6NI>=NE,?E[>@SG.?\*T_^$6C_`.?I_P#O@5$J\(NS9K#" MU*D>:*T*7A?_`)"C?] MI]*X*TE4G>)ZN&@Z5*TR#4]3ATZ++?/*WW4'?Z^UZC:5LLQ_+VI+>"2YF6*%2SMT%=M*C&FKO<\VOB9UI!)W'UJEJNCRZ?\X/F0DXW8Z?6LRM'&%:)C&53#SML>B@@C(Y M%+6!X9OS+&UI(K%147N> M5C*$Y3]ZY*5)U)6/0Q%=48 MWZD^H^()YR4MI-)6IIVAW%ZHD8B&(]&89)^@KTK0 MI1['C-U<1+NS+HKJE\,6@'S33D^Q`_I4%UX8PI-K.2?[L@Z_B*A8FFWN:/!5 MDKV,2TOKFS?=!*R^J]0?PKJ-)UJ*^Q%*!'/Z=F^E@K&(`H\^>1F M[[,`?UKHG6A#1LXZ>'J5=8HYCI6SI.NRV[K%=L9(3QN/)7_$5>G\,0%3Y$\B MM_MX(_I6!?6,]A+LG7&?NL.C?2IYZ=96*1SU)\\W+N=[IW_(-M?^N*?R%6:K:=_P`@VU_ZXI_(59KR M)?$SZ*'PHX_5]0OOMDT$DQ148@*GR@CM6571Z_I<]U?1R6T9;>N&/0`CN?\` M/:F6_A=R`;BX"_[*#/ZUZ$*M.,$]CQZN'K3J-;G/45UB^&;(?>DF;_@0_P`* MBF\+P%?W%Q(K?[8!'Z8I_6:8G@:UMCF58J05)!'0BMW2=?DC<0WK[XSP)#U7 MZ^HK*OK&>PF\N=<9Y##HP]JK5I*,:D=3"%2I1EIH>B@@C(Y%4-;M/M>G2*!E MT^=?J*@\-W9N+`Q.;L<^`J6 MFX/J;E<9X@NOM.I.%.4B^0?U_6NJU"Y%G8RS]U7Y?<]JX,DL22_T%=Q58N>T2AKT2N*UZ M/R]7G`&`Q#?F!_6NW"3=W$\W,*:LIE:QN3:7D4X/W6Y]QW_2N]!R,CI7G5=] M8,7L+=CU:)2?R%/%QV9.7R^*)0\3_P#(*_[:#^MT8`_6GAE>H+&R<:+MU,BNK\,V8BLS M6)Y>&J0ISYIG:T5QW_"0:A_ MST3_`+X%'_"0:A_ST3_O@5R?59GH_7Z7F=;-$D\+Q2#*.,$5P5S";>YDA;JC M%?K6A_PD&H?\]$_[X%9]Q.]S.TTI!=^20,5T4*4Z;=]CDQ=>G62Y=T2Z;<&V MU""7/`8`_0\&N\KSFO0X26A1CU*@UEBUJF;Y?+241]%%%<1Z05D>)_\`D%?] MM!_6M>LCQ/\`\@K_`+:#^M:4?XB,<1_"EZ'(5T?A+_E[_P"`?^S5SE='X2_Y M>_\`@'_LU>AB/X;/'P?\:/S_`".CHHHKRSWC-U^Y-MIC[3AI#L'X]?TS7%UT MOBUB$M4[$L?RQ_C7-5Z>%C:G?N>)CI7JV[&GH-@M]>9D&8HAN8>I["NR``&! MP*Q?"L>W3Y'QRTA_(`?_`%ZVZY,1-RFUV/0P=-0I)]6%%%%GK>V;, MJ_OHQE#Z^U<77HU<#?Q^5?W$8&`LC`?3/%=^$FVG$\K,*:34T6-#N3;:G$.VV[L^C225D%5[ZTCO;9H9!UZ'^Z?6K% M%";3N@:35F>>31M#*\3C#(2IIE:?B*,)J\I'\0#?I697L0ES13/G*D>2;CV. M]T[_`)!MK_UQ3^0JS5;3O^0;:_\`7%/Y"K#,%4LQ``&23VKR)?$SZ&'PH6BN M:U'Q&VXQV(`4<>8PR3]!6+-=W%P29IY'SV+''Y5T0PLI*[T.2ICJ<':.IWN] M/[R_G2@@]"#]*\ZIRLR'*L5/J#6GU/S,?[1_N_C_`,`[+7[=9]+E)'S1_.I] M,=?TKBZM#4;P0M$;AVC8%2K'/'XU5K>C3=-69RXFM&M)2BC=\*.1>S1]FCS^ M1'^-=37)^%?^0E)_UQ/\UKK*XL3_`!#TL$_W*,7Q-:>=9K<*/FA//^Z:Y.O0 MY8UEB:-QE7!!'M7!74#6US)`_5&(^M=&%G=_]*Z6N!L;@VEY%./X&R?<=_TKO58,H93D$9!K'%0M._2:Z7Q5<[8HK93RQWM]!T_S[5S-;X6%H7[G)CZ MG-4Y>QIZ!:_:=20D92+YS^'3]:[.L?PU:^38&9AAYCG\!T_K6Q7+B)\T_0[\ M)3Y*2[O4****P.H****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`*IZK:_;-/EB`RV,I]1TJY133:=T*45)-,\ZZ5?T2Z M^R:E$Q.$?Y&^A_\`KXIVNVGV74GVC"2?.OX]?UK-KU]*D/4^=]ZC4\TSH_%5 MUS%:J?\`;;^0_K7.5+<3R7,QEE.7(`)^@Q1;PM<7$<*?>=@!2IQ]G"Q5:HZU M1M'3>&+3RK-KAA\TIP/]T?\`UZVZ9#$L,*1(,*@"BGUY=27/)R/=I05."B9' MB:,OI6X?P2!C^H_K7(5Z!=P"YM98&Z.I&?2N"EC:*1HW&&4X(]Z[<)*\7$\S M'P:FI=S;\*3!;F>$GEU##\/_`-==17GUM.]M<)-&<,AR*[>POH;^`21-S_$O M=366*IM2YC?`U4X)_^05_VT']:Y"NO\3_`/(*_P"V@_K7(5KA?X9S MX_\`B_(Z/PE_R]_\`_\`9JZ.N:\)R*);F,GYF"D#Z9_QKI:Y,1_$9Z&#_@K^ MNH5R7BA"NI*W9HQC\S76UA^*+4RVB7"C)B.&^A_^OBC#RY:B#&0HK$39S-A6.4)['TKNK.:C>!Y6&5.4^ M6HMR3_A%?^GW_P`A?_7H_P"$5_Z??_(7_P!>NCHKA^L5.YZOU.C_`"_BSG/^ M$5_Z??\`R%_]>C_A%?\`I]_\A?\`UZZ.LZYUFTMKM;=WR3PS#D)]:<:U:6B9 M,L-AX*\E;YLS?^$5_P"GW_R%_P#7KH8UV1JN<[0!FE!#`%2"#R"*6LYU)3^) MF].C"G\"W"BBBLS4*R/$_P#R"O\`MH/ZUKUD>)_^05_VT']:TH_Q$8XC^%+T M.0KH_"7_`"]_\`_]FKG*Z'PG(HEN8R?F8*0/IG_&O1Q'\-GCX/\`C1_KH=+1 M117E'O'/^+(R8;:3LK%?S`_PKF:[G5K0WFGRQ*,OC/8W:3KR!PP]1Z5VUM&[0SW_G$?)",_4]JZVL\5/WTET-\#3_=MOJ>=5>T:40ZK M;NQP-VW\QC^M1ZE;&TOYH<8`;*_0]*K=*[7:4/Y MFO.HQ3JZGLXB3CA]/(Q*V-&T4WZ^=,Q2$'`QU:L>NXT4J=)M]G0+@_7O75B) MN$=#S\'2C4G[W0(M(L(EPMK&?=AN_G3VTNQ;K:0_@H%6Z*\[GEW/9]G#:R,/ M4="LEM9IHE>-HT9P`V0<#/>N5KM-=NEMM-E4GYY044>N>OZ5Q=>AAG)QO(\C M'1A&:458VO"O_(2D_P"N)_FM=97)^%?^0E)_UQ/\UKK*YL5_$.[`_P`$*YGQ M3:;9([M1PWR/]>W^?:NFJMJ%J+RRE@/5A\OL>U94I\DTS:O3]I3<3@J['P[= M?:--5"?GA.P_3M_GVKCV!5BK#!!P15S3=0:Q,^W/[R,J/9NQKT:]/VD+(\?" MU?95+O876+G[5J4T@.5!VK]!5>U@:YN8X5ZNP'TJ&M_PM:[YY+IAQ&-J_4]? MT_G3FU3IZ=":<77JZ]3I(T6*-8T&%4``>U/HHKR3Z`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#'\2 MVGGV'G*/GA.?P/6N1KT1T61&1AE6&"/45P5Y;M:7\+6F^XDNF'$8VK]3_`/6_G6%UKN=*M?L>GQ1$8;&Y_J>M:8F? M+"W0/#(R,.ZG%=7J6A07A,L1$,QZD#AOJ*Y^YT>^MB=T#.O]Z/Y MA7I0K0FCQ:F&JTG=?>BS'XDOD7#"*0^K+S^A%,G\07\RE0R1`_W%Y_6LQE9# MAU*GT(Q3HX)9?]7$[_[JDT_94UK8GV]9ZK=?RKI-/TVWT],1+ES]YVZFHJ8B,%9:LUHX.=1WEHA MNDZ_I]*O445YLI.3NSV8Q45RK8SM>@,^DS!1DIA_RZ_IFN*K MT4@$8(R#7+:IH$T4C26:F2(G.P=5_P`:[,-545RL\_&T)2:G'4QX)Y;>5987 M*.O0BM3_`(22_P`8Q%]=O_UZRI(Y(CB1&0^C#%$<4DIQ'&[GT49KKE"$M6CS MX5*D-(MHZ#0+^ZO=3D^T2EP(B0O0#D=JZ&1%DC9'`96&"#W%8'AW3;JUN7GG MC\M6C*@$\]0>GX5T->=7Y>?W3V,*I>S]_?S.(U739-/N"N"8F/R/Z^WUJA7H M4\$5Q$8ID#HW4&N;OO#YQ8C!2B^:GJBK9Z] M>6JA&(F0=GZC\:N_\)2^/^/1<_[_`/\`6K%FL[F`D2P2)CN5./SJ"M71IRUL M&ES4N]>O;E2JL(4/9.OYUF58AL+N[9&5N;5>A;L?05T--1%C0(BA548``X%.KS:D^> M3=CV:5/V<%%NX4445!J%9VO0&?29@HR4P_Y=?TS6C2$`C!&0:J,N5IDSCSQ< M7U/.JD@GEMY5EA( M-),;M>6ZY1N9%'\)]?I73TE<5.HZHC&/UZUFD%3@@@^AJ2*VGF(\J&1\_P!U M2:?LJ:UL+V]:6EV1]:FM+66\G6&%I[`>IK3LO#ES,0UR1"GIU8UTEG906 M,7EP)@=R>K?6LZF(C%6CJS:A@YS=YZ(2PLX[&U6&/G'+'U/K5FBBO.;;=V>R MDHJR,?7],-Y")H5S-&.G]X>EM=K4*B[GFJ52B]+HU9_$5]*I53'$/5%Y_6LMF>60LQ+NQY)Y) M-6+;3[NZ($,#D'^(C`_.NDTG0H[-A-<$23#H!]U?_KUE*=.BM-S:%.MB'[VQ MR]U;26LHCE&'VAB/3/:H:V]?M+F;5'>*WE=2J_,J$CI6;_9][_SYW'_?IO\` M"M(33BFV95:3C-I+0[33O^0;:_\`7%/Y"LKQ3:-)!';3B M5`$D1.2A./R-7M1\.R*QDLOG0\^63R/IZUBRV\T!(EB=,?WE(KT5*%56/&<* MM"5]CIT\2V;#YXYE/I@'^M07'BA-N+:W8GUD.,?@*YM5+'"@DGL*OVNCWMTP MQ"8U_O2?**S="E'5FZQ6(GI'\BM=74][,9)F+MCH!P![5!76C1X[+2[D1J9; MAXV&[')XZ`5S?]GWO_/G?-#T/"Q=/DJNW74* M[K2;7['I\41&&QN;ZFN5T2U^UZE&I&43YV^@_P#KXKMJPQ<]HG5E]/1S?H%% M%%<1Z84444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M"4M%%`!1110`4444`9FKZL--:)0@D9SEESC"U%'XDL67+B5#Z%#0!8HH MHH`****`"BBB@`HHJ"]N5L[22X<9"#./4]J`)Z*S=+O;V\(>>U6*!DW(X;.> MG:H+75KN]NC]FM%:U60*TA;!`]?RH`V:***`"BBB@`HJIIVH1:C"TD*NJJVT M[P`?T-(UW,NI):BT=J^E)K-[#J_D6ECNED,F[=M(`&/?Z_I5A;(R^)[AY M[;?`8QAGCRI.%]>/6MB*"&`$0Q1Q@_W%`_E0!C3C'BZT&<_NCS_P%J;=WTEY MJ4MJM\EE!#PS[@&8]\5-/!*?%5M,(G,0C(+A3M'#=Z@O+"2TU&6Z6Q6]@FY9 M,993WQ0`6E[)9ZG%;-?)>V\W`;<"5-2ZO)&MT1+J\ELN!B*,$D?7%+I\?GW: MO_8\=M"G.]UPV>V!BHH$N=-U6ZD>SDN%G;*21C)')_+K^E`#M$OY6OY;)[C[ M5&J[DE[]O\:@GN9;G5;B&?4'L1$V(E'`;W)_(\^M3:?%/KC(_2@"Q=W#1YY?#YM9CMFW^8@/\/M_/\Z@3?&@BDT` M/,!C<%^4^^<4`;&CWQO[!)F`#@E7QZBJ>IS36.K6MQYK_9I#L="WR@^N/U_" MM'3X?)M$#01P.>72/IFH]7M/MNG2Q`9?&Y/J/\X_&@"GK$TTVH6EA;2O&SG? M(R,00OX?C^E%_=W,^I+IMC((B%W22'D@?YQ^=,T"VN&FEO;U'64@1J'4@X`Y M./R_6GZA:74&I+J-B@E)7;)'T)'^? M:VUXDK^7(`!'VZ$Y^O:I[N34-7C%JMDUK$Q'F/(?2I==T^23288;5"_D$?*. MI`&*`)BKZ-87$\MS+@'ZUFQM/<6XN7UR.*=AN6(2`*/0$9_I6@/ M/UG3IX;BU:U)P%WYY/7/05G0QR6T8@GT,32KP)%7(;W)Q0!KZ+?MJ%@)'`\Q M3M?'<^M,UJ_EM$AAM@#<7#;4SV]_U%6=.A,-HH>WB@D;ETCZ9JMK5A+=I#-; M$"X@;_P#G`H`K2Z?JD,)GCU)Y)E&2A'RGV'_ZJ9&WN8V,4H8*Q1 MB,'(I\FHZI-"8$TUXYF&TN3\H]Q_^NF7.F26OAM[:-6EE+!F"`G)R.E`$;P: MH^EI??;V4I$'$8SRH'4G/)QSS6MI%T][IL4\GWSD-CN0<9IGEO\`\(]Y6QO, M^R;=F.<[.F/6F^'XI(=)B25&1P6RK#!ZF@"IKT]S%?V"6TK*SMC;N(5CD8SZ MBJ^H'4M(>.Z:]-PKMAD887/IBK>LP2RZIIKQQ.ZI("S*I(7YAU]*/$\$L]E$ ML,3R,),D(I)Z'TH`JZA%JEC"+]K\LP(WQ`849]NAK3NY_-TJ.;[5]C\Q5;?C M.,C.*3Q!%)-I,J1(SN2N%49/451O[*Y>QTR6.$R?9T4R0G@G@=OPQ0!2?4#9 M%)[75)+L;L/%*#T_&K/BN)C%#<>:^PD+Y?;/)S]:36GN]0LHQ%ITR*K@_,OS M=#V';_ZU7?$%G-=:9&($+O&P8J.N,8H`;=:=-#I-TK7\\AVE\L3T`/R]>AJ' MPY9R&WANOMOXU>AFN=2T^Y2:U:V9D*+OSR2#SR!5309;RW$= MC+8R(BEB9CP!U/ISS[T`0?;7U.YF)U);*WC;"`.%9O?J*L:7?2)J36$MTETA M7='*I!/T/ZU6-@^FW$N[35O;=VRA5X:9M+BM$4?(2,/G_`/50 M!FVLNI7=[>VUO<.H\PYD=B=B@G@>F?;TJSJMQ<6TEG9O=/#$8QYEP`26(X^O M_P"NIM"@EBO=1:6)T#R`J64C=RW2K&IS7,;@"P6[MB/F`Y;/TH`;I44JR%UU M/[7;XZ'D@_6M&4XB<[]GRGYO[OO6%I=K*^KB[CLWLH`A#(W&X_3_`#TK3U>V MEN]-FAA/SL!@9QG!SB@#!FG$:N\6O223H"P4J0K>P[58U"634/#27;2,A7[Z M+T<[@.?YT]9;HZ.UDFF2JZQ%&8C"GCJ/4_UIJVT__")-#Y,GFY^YL.[[X/2@ M";2]-F.GJXOYP)80%7)Q'T/'/MC\:I>&[.2>/SENY8ECE&8U)VMC!YYK?TQ& M33;9'4JPC4$$8(XK/\,02P64JS1/&QDR`ZD'H/6@"K]M?4[F8G4ELK>-L(`X M5F]^HJQI=](FI-82W272%=T*6\UJXF,-R;:UC;:I3JWXU<@L;\0SP3WQ96P( MY%&''XU3BBO=%N)EAM6N;61MRA.J_A6CI]Q>W+2/@"N7OI_$-U;6]TT:[>I)(0?+R! MZ_XTZTEO-/UM+&XN&N(Y5W!FZCKS^E36<$J^)[N5HG$31X#E3@_=[T7D$K>) M[258G,2QX+A3@?>[T`1&2[U?4KB&"Y:VM[<[24^\3_D&H;_[?97MC"]X\D32 M<,"5)Y&0WK_]>K,EG>V6HS7&F^7*LIS)"QP0>M4M0^V2ZI8"Z:/S3(,0Q\[! MD9'*W5D;!/YTZQTBTL9/-C5GE_OR')JQ)987#HW1AWH`DHHHH`****`"BFNZHA=V"J!DDG`%)'(DJ!XG5T M/1E.0:`'T444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`4+#4OM=U<6TD/E2PGINSN'KT_SF@ZCG5_L$<6["[G?=C;^&/I^=4=5/ M]G:O;ZB!^ZD_=RX_SZ?RJ3P]&TJW&H2#Y[ESCV4'_/Y4`2W6LI%OY_G0!I0:EYVK3V/E8\I=V_=UZ=L>]$^I>3JT%CY6 M?-7=OW=.O;'M69%/':>*[IKAQ&LD>%9N!_">OX&DFN8KGQ7:-`X=53:64Y&? MF/\`6@"[8>!AN-O3M^M+<:XMOJ,MH MUN[%`-I0Y+D@'&,>_P"E5[C_`)&^U_ZY'^340`'QASUP37@ MM;BUDMI&^[O[_H*L6NI>?J-Q9R1>5)%R/FSN'KT^GYU0UT#^V-+/?S!_Z$M. MUD&RU&UU)<[0?+EQZ?\`ZL_I0!=EU'9JL5C'#O9EW,V[&P?E3+W5E@N?LUO` M]S.!DHG\/U-5]!0W,]UJ4@YFRC_('X50A%Q#K5[']N6TD=]P9T!WC)QR M>G7_`#B@#9T_5$O)7@>)X+A!DQO_`$J*XUEDNI(+6SEN3%Q(4/W?TJM:6QDU MI)WU.*XGB7E40#*\CMQWILT,`N[BXT[4TMYB3YB,1M)_'_Z]`%G4KUYM#>6. MVD_>`HRMP4&#D_I4'ARZG-K!;FT80@-B?/!Y)Z8_"GQ7LNH>'+J65`'".IP. M#@=:D\.W,!TN"`2IYHW93=\WWB>E`#!K^Z6XB6SDDEB;:JQG<6Y.3TXZ#\Z( MO$4,D3#[/+]H!VB!1DDU'X>`_M#5#W\P?S:BQ`_X2R]X'$>?_0:`+6G:RMY< M-;2P/;SJ,[&YS^@IU[JRP7/V:W@>YG`R43^'ZFJ=P/\`BL+;_KD?_06JI"+B M'6KV/[.,8]_TJ"TMC)K23OJ<5Q/$O*H@&5Y';CO19`'Q9>9'2/C_`,=H M`M:?K2W=T;::![>?J%8]?Y5D)>7*>(KB=;%WE*8,0;D#`YZ>WZU=O0!XLLN. ML7_Q5,6:.W\6W+S2+&IC`#.<#[J_X4`;L+M)#&[H49E!*'^$XZ5F0R6[>))X MQ;8G5`3-YAY&%XV]._Z5JHRNBNA#*PR".A%8=O\`\C?=?]O\JJV0!\67F1TCX_\=HO M0!XLLN.L7_Q5`&Q=2O#;O)'$974<(#@FN<\-W<\,?DQV;RQO*-TH;`3H/3\: MZFN=\+7$,5M+%+*B2-+PC-@G@#@4`,DNEM/%-U(RNY,85409+':O%7K/7!-> M"UN+62VD;[N_O^@J"``^,+G(Z1C'_?*T:Z!_;&EGOY@_]"6@"[?:LMM<"VAA M>YN,9V)V^II++5EN+G[-/`]M<8R$?O\`0UD`3P:]=K]M6T>0Y5G0$,">!D_Y MXJPMNT^JVS2ZM%--&=P58P"0.2,B@#H:YC2K"UOK_4?M,6_9+\OS$8R6ST/M M73UREA8SWE_J'D7LEMLEYV9^;);T(]/UH`GFMH]*UVS%F659CM>/=GC./\_2 MM6QU+[9>74'E;/L[;=V[.[DCTXZ5'8:-':W'VB69[B?L[]JS]+N(;36]12YD M6(O(2I4I@Q!N M0,#GI[?K5C[3%<^+;=H7#JJ%=PZ$[6IRS1V_BVY>:18U,8`9S@?=7_"@"[?: MO]A6T::`CSQEP6QY?3/;GK^E02>(?*E4RV,\<#'`D88S^&/ZU%X@*2W>E,I# M([D@CD$$K5OQ(`=&E]F7^=`%J\O#;PQR0V\EQYAPHC'MG-4H]<99TBO;*6U\ MPX5BJKIT]NCQ;EE/+;L;1D`.K: M6#R#(/\`T):/%H_T&$_]-?Z&@![^(ECD4O93+;L<+,PQGZ#']:V58.H93E2, M@^M9GB,`:+*`!P5Q[F_\@RT_ZXI_Z"*`.?U:>237X@]F91&,+$3_`*P< M\]/\XK2&I_9!8PFQ$'VABOEAL>7\V.F/?-0WW_(V67_7+_XJD\1,(=0TV=\B M-),L?3!!H`T=6U#^S;99O*\WM M9WB:]MI[&**&9)&\P-\AS@8/7\Z?KX!NM)!&07Y'XK0!+)XA\J53+8SQP,<" M1AC/X8_K5Z_U."Q@21\N9/N*O5JK^)`#HTOLR_SK,G86]QHUS/G[.($&<<`X MZ_J/RH`LWFK226$Z75C-;"2,A&;D$XZ'@8J33+V*P\-P3RY(!8`#J3N/%2ZS M?69TN9?.CD,BX158$D^M4[9+.7PS;1WLOE(S-M;T;WA6W@CA3[J*%%244`5KJPM;S!N(%<@8ST/YBG6UG;VBD6 M\*QYZX')_&IZ*`*MWI]K>D&YA5RO0\@_F*1=-LTGBF2`*\0VH02,#GMT[FK= M%`%=;.W6\:[6/$[C#-D\CCMT["K%%%`%=K.W:\6[:/,Z#"MD\#GMT[FA;.W6 M\:[6/$[C#-D\CCMT["K%%`%>>SM[B:*6:/<\)RAR1@]?Z4^XMXKJ%H9TWQMU M&<5+10!'!#';PK%"NV-1@#TJ.ZL;:\`%Q"LF.A/!'XBK%%`%>ULK:S4K;PK' MGJ1R3^-1W&E6-S)YDUNK/U)&1GZXZUUI3ESDG)Y]?J:$L[>.[>Z2/$T@PS9/(X[=.P MJQ10!7:SMVO%NVCS.@PK9/`Y[=.YHNK&VO`!<0K)CH3P1^(JQ10!7M;*VLU* MV\*QYZD.[>Z2/$T@PS9/(X[=.PH>SMY+M+IX\S1C"MD\#GMT[FK% M%`!5/^RK'[4+D6ZB4'=G)Z^N.E7**`*ZV=NMXUVL>)W&&;)Y'';IV%$]G;W$ MT4LT>YX3E#DC!Z_TJQ10!7NK*VO%"W$*R`=">H_&FVFGVEEDV\*H3U/)/YFK M5%`!5>WL[>UDE>"/:TIRYR3D\^OU-6**`"JEUIMG>.'N(%=QWR0?TJW10!53 M3K1+B.=(0LD:[4()``Y[=.YI+K3;.\1YD0/D M?ZO!(V]/3Z"GW-M%=PF&=-\9ZC)'\JFHH`K2V%K-;I!+"K1Q@*H/4#Z]:A.C M:>81%]F78#G@D'/USDU?HH`KSV=O<312S1[GA.4.2,'K_2B[L[>]C"7,>]5. M0,D<_A5BB@"&YMHKN$PSIOC/49(_E3XHUBB2.,81%"J/0"GT4`5WL[>2[2Z> M/,T8PK9/`Y[=.YI]Q;PW41CGC5T/8U+10!0_L;3_`"/)^S+LW;L!CDGZYSW- M3SV5OYH3E#N(QT_P`!5BB@"&YMHKN$PSIOC/49(_E0UK`ULMNT2M"H M"A6YP!TJ:B@"C%H]A$KJELHW@J3DDX/OGBIDL;9+06HA4PCHC?-WSWJQ10!1 M@TBPMY1+%;*'!R"23CZ9J9K*W:\6[,?[]1@-N/3&.G3O5BB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@"O!>VES))';W,,TD9PZQR!BOU`Z5+-+'!$TLTB1QJ,L[L``/ M]7M!U9M9LY+DVDMJHD*(LO5A@'=T]_?I0 M!IT5SVL^*HM'UR#3Y[9FCEB\PRJV2/O``+CDDJ!U[U7/C$VUS&NJ:1=V%M,0 M(YY.?^^ACC\S0!U-%8OB;7QH%A#="W%R)9`@`DV]BYFN4;'D0DOA9@O`ZCIV MJ>+QS:W-HK6MC=W%X20;2--S+CJ21VY_^M0!U5%8?A[Q+!K1_$*UFCTUY)8(RD40?!F7Y_F!QQU/KT MH`]$HJIIES/=V$4]U:-:3/G="S;BN"0.<#J.?QK*U?Q3#I&N0Z?<0?NI(#,T M^_[H&[C;CG[OKWH`Z"BL33O$<5WI5SJ5S;R65M`V`9>K+@'.,=\XXS6>?&4W ME&[&A7ITX#/VCC./7;Z>^:`.KHK)N_$6GVVAC5_,,ELX&S9U8GM]>OY&J-KX MGNWN(H[O0+ZWCF8+'(!N'/3=P-M`'245SNK^*XM)UV+3IK5G22+S/-1LMGYL M*%QR20!U[U"/&!M[R.+5=*N=/AE($<\G(_X%QQ^M`'445G:SK5IHMJ)[IF)< MXCC099SZ`5CMXQ:V*R:EHU[9VSD!9F7('U&./I0!U-%8GB'Q%'HVDP:A%"MW M'-(J+MDV@@J3G.#Z?K6;>>-Q;$3)I%Y)8][HJ54^FW(P1^(H`ZVBLJ]\06-G MH:ZLS,]NZ@QA1\S$]!CU_P`*JZ;XANKJ^CM;S1+RS,N3&Y&Y,8SR<#!XZ4`; M]%8>K^)(["]%A:6DU_?%=WDQ?PCW/:DTGQ+'>WYT^\M)K"^V[A%+R''^R>]` M&[14-U))#:32Q1&:1$9EC!P7('`S[]*\\\)ZI?V^L:LT&D27!N+A3,JR8\CY MGX/'/4^G2@#TFBL?6_$5KH\D4#1RW-W+REO"NYR/6J4'BY8[N.VU;3KG36E. M$>7E#Z<\?_6H`Z6BDKS>'5+^'Q[?W46D237#1;#;"3!50$`;..X`/3O0!Z%/ M>6UM)$EQ<0Q/*<1K(X4N?0`]>H_.IZX3QK=8N_#-W=1FWQ(9)4)SY?,9(]\5 M>G\<+:W*_:M(O8+)SA;B12N?^`D>G/7/M0!TUQ>6MJ\:7%S#"TIQ&LCA2Y]! MGKU'YU/7+^*;O3UU'0Q5RG.!][J.OI5_7/$$>DS06L5M+> M7MQDQP1=2/4GL/\``T`;-%8VD:Y-?W36MUI5W93*F\^8,H1[-QGK6S0`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110!#>0QW%G-#,@>-T*LI[C%#+NWTJ\U/ M3M2F2*_-P6+RX7S![?SQ[T:[<0ZMXQT:'2I5EFMG+SR1G(500<$CZ'\\=ZZC M4=&T[5,?;K2.8@8#$88#ZCFI+#3+'34*6-K'`&Z[!R?J>]`'(P7<&F_$O49+ MZ5;>.:`*CR':I.$/4_[IIMU?6U_\2],>TF2:-(2A=#E2<2'@]^M=9J6BZ=JV MW[?:),4^ZQR"/;(YQ3$T'2X[RWNX[1$FMDV1%"0%'/8''\1[=Z`.:U>".Y^) MVF1S('3R-V",C(#D?J!7;U2DTJREU6+4WAS>1+L23>W`P1TSCN>U7:`.$\37 M,%G\0]*N+KB%(%+$C.WYI,'\#S^%7?'6IV$WAM[>*XBGGN&3R5C8.3\P.>/; M/YU-JFCW=UXXT^_6W$EE';F.5RRX!^?C!.3]X=N]:=IX;T>RN_M5O81)-G(; MD[3[`G`_"@#E?&\,MOX+TF&X),T;1J^?41G-=+X@T]SX4NK'3UV%8=J(B]0, M9`'N`1^-7=4TJRU>!8;^'SHT;>!O9<'&.Q'K5V@#F?"6M:6?#MK&+J"%K>(+ M*CN%((ZGGL>N:H^&F%]XUU?4K(_Z`4$>X`A7?Y>1^1/X^];]WX;T>\N//N-/ MA:4G<6`(R??'7\:T+>WAM85AMXDBB7HB#`%`'(_#`#^Q+HXY-R>?^`K2>#%` M\3^),`<7!`]OG>NGTO2K+2(&AL(?)C=MY&]FR<8[D^E%EI5E875S5XSD*N5."1[!N/?WI=?F MCM?B-I-Q<2+%"+?!D5)HFSM>-@RG!QP1[UQNOV\5U\2=)BF0 M.AMP2IZ'!D(_45V-I:P65LEM:Q+%#&,*B]!WJ";2K*?5(=2DAW7<*[(Y-[#` MY[9Q_$>U`&-\0+>>?PQ+Y&<1R+)(H'5!G/Y$@_A6;;R7L^EK*OC&T6V*!2K6 ML0VC'W2.Q]J[<@$8(R#6/)X4T*2Y^T-IL7F>@)"_]\@X_2@##M]*TB'P?'9Z MEJJ2VD\V^WN`-FTD=!G/^UU]34,^I:CX=:T:+68=8MII!&L)P9,'N"#D_7/< M5V6R`J,=.*HV7AG1K"Y^T6UA&DH.0Q);:?;)./PH`YK M7KJ"R^)&G7%T0L*0#4D3!VZ]>/Q' MXU8O]&N[GQU9WYMA)8);M'(S,N,E7&-I.3]X=N]:=EXPNC%+Y0HVBT;`],+5O M4]+LM7MUM[^'SHE<.%W%><$9X(]34UQ;0W-K);3)NAD0HRY(R",8R.:`.,TR M#2[KX>:?;ZO<+;Q/(_ER$X*OO?!'X9J6UU+4-'UG3]/;4XM7M;MMJD`&2,<< MD@\]AKIHM'T^+35TY;5&LUSB)\N!DY[Y[FHM/\/Z5IDS365E'%*<_/DL M1GTR3C\*`.."7MKXTU2+^V8]-EN&#QR2PJPE0G@`MTQP/?%7H]/EN_$E@]SX MGM[N[MFWK&D"ABO!9X]:ZK4=*L=4B$=];1SJ.A8RC:X!SOR1D^I`.#^-`'.S3QZ3\1Y;K4W"07-OM@E?A5.%'7H.A_/WJ; MQWJ%E=Z.+"WECN;R>1/*CB(8CGKQTXX_&NHO;&UOX?)O+>.>/KM=W4*\K!5/RIW/T/Y5W%9NI:#I>JRI+?6:2R)P&R5./0D$9'L:`.;\;/'< M:MX9=&62*2VAN)+<74)GC7<\8D&Y1QR1U`Y'YTMM>6MWN^RW,,^PX;RW#8/H<4`3 MT5`]Y;1W26KW$*W#C*Q%P'8<\@=3T/Y4^*>&7*VV-_.7#GT!SR:`+=%,DD2*-I)75$0%F9C@ M*!U)--M[B"ZA$MM-'-$>CQL&!_$4`2T5'//#;1&6XECBC'5I&"@?B::MW;O; M&X2XB:`+N,H<%0.N<],4`345RV@^+([_`%#48+ZXLH8X90ELP?:91EAGD\]% MZ>M='<75O:ION9XH4_O2.%'ZT`345%;W,%U'YEM-',G]Z-@P_,5SEYXJ6V\6 MP:9Y]F+(H?.F9^8W`;Y2LWQ5K1T327N(7@^TDCRHY3]_D`X&03@'M0!M45G:+JUOJEC;R+<6[ MW+0H\T<3@E&(&1C)(Y]:;X@>ZCTF1[*]M[*8%<37!`11GG)((Y^E`&G156RE M9=,MY+JXBD?R4,DRL-CG`RP/`P3S3K:]M;Q2UK6VT MA6P<$]`:R/#EQ=?V5--JFJ6=Z4D8F>W=2B(%!P2``,W7.*DGNX(+1KF2>)(0,^8 MS@+Z#GZT`3T5S7A/Q0NLV;&_FLX;LS%(X4;:67`((4DD\D_E72T`%%%%`!11 M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`<`FG0ZI\2-3M[EF\D1!G16($@`3Y3CMG!_"I/$^G6WAF M[T_5M)1H',XCDBC)(D7&<8/TQ^-1"SGO/B+J@M+IK6XBA$D<@&1G$8P1W&": MUH?#FIW^IP7GB"_BG2V;=#!`I"YXP3P.X]_K0!E^*[>:[\?:=;V\QA>6UV>8 M.J@F3<1[XS5GQ)"GA+PJT&D&2,W,P1I"^6&5.3GL2%QQ6K?:'D7Q-S%:2F$.XR'0Y&,_A^HIT>A^)H(/L4.NQ M?90-JR-%^]4=@/\`'-:-IHLFC:')::.T9NGR?.G)&6/5C@'\!0!QKM<1ZB?! MPOE^Q/<#]]GYE3&?+^N>/K^5=9XFT**[\+/96L04VR!X%`Z%>WXC(_&JX\'P MGPX;%I>,+N\LW:33;61GA."%WL!P![<_DM>A4`_N5"L8EPJ@8X'KT'Y4`<]X.TC3[K M6M<6>UC=;:X`A!_@^9^GY#\JU/$4^G7FM)9)I!U;488\E/,V+&IQU)X[C\_> MFKX9U>PURYNM)U**&UNY?,F5URW4G`X/J>ZABGF0)+'. MI*L..>/H/RH`P-,$FF^/+."&P?3$NH3YUL91(IX;D$'ID#\C4NIZ78R?$FSM MGMD,-Q$TLJ'H[$2')_$"M1?#NJ-XJL]7NKR"=8D(D`!0CAAA1@\WM77ZAH#ZMHL%M?W1- M]#\ZW48P5?U`&./RJI'I?B>5TAN]:A2W0@^9!'^]?'KD8'ZT`8_B]Y;Y_"S2 MA[>:=OFQPT;$QY^A!J/QIH5EH-E:ZCI8D@N1/UKH_$>AW6 MJZCI%Q;R1*EE*7D\PD$C*'C`_P!D^E.\8Z)*7Q)JMTWA;1(BTY:_5//DB M'S,`!D#W.>G?%=-XBTR;5?#T^GV[1K+($`+DA>&!/0'TJO-X<2]\-6FF74FR M:VC3;-%_`ZC&1GM0!RFH0:3)IIBT[P]K-M=Q@&&?[.00PZ9.ZK'BVYN+OP%I MDUY'(EP9U$@D7:VX*X)(]\9_&M@:5XKD'V:;6[=;<<&:./\`>L/RP/KGM5CQ M9H5UK6C065M-'YL M`2,1Y*@[RPZX]LT`6?"VF65II%EP/I0!SVKZ=?:AX3T'[+";F&&*)Y[96VF M4;%[_G^?M3M$D\.MK5N5TRXTO41D1QRAE#\?D?QQ6O-H^I_V3IT%CJGV.XM( M5C;:H>.0A0#G(]O_`*U5+?P_JM[JMI?:]>6THLV+116Z'&>#DD@=P/RH`Z:7 M_5/_`+IK@O"7_)/-;_[;_P#HI:[YQN1E'4C%TJ235?-N5MW,,,9E8+&,`G&#W)_2NN\,:9-H^AP65RT;2QEB3&25Y8GN!ZU M5\':'E`&7X"WVNHZWIJR,UO:S[8PW;YF'ZX% M9O@#1+/5-/GFOU,Z1S82%F.Q3M&6P.I/`_"NF\/Z'\?1 M:=8EA9WT.]H=V0APW3_OG]:;86T?BGQ3JC:IOD@L'$<-N6(4&[G^U6U71;[['=2#$JLNY)/J*`, MCQ%80>%;RRU32`\/F3"*6W0DB0=>`?I_*H_$MK+>_$&RM89C"TMMM+KU"D/N MQ[XS6Q;>'+V[U&&^U^^2Z:#YHH(EVQHWK[U-=:'-+/65DA%O!"4923O)P MXX&,?Q#O0!D>*O#VFZ5X/F%M"=T4@='=B6!8H&_,**V/#EEIVF:#;7Z0QP,] MFCSR^HV@DG^=7]=TM=9TB>Q:0Q^8!AP,X(((_E67HNB:K%83Z?K%]%<6;0^1 M%'$,%5QCK@'I]:`,2&VL-4CDFL?"OM0!G>$?#.G:KX=@N-022=V+A`9&41C<> M``?7)_&CP;;I-!KNC7(\^SMI@$1_JW]4!^M=+X8TR;1]#@LKEHVEC+$F,DKR MQ/<#UJIX=T*YTO4-7GN7A>.^E#H(R20,N><@?WATH`Q?AQIEE<:6][-;H]S% M=$)(>J@*I_J:[NN2T/PUK&B7_E6VI1'2S)YC1E/G;MCIQP!R#VZ5JV=EJL7B M&ZN;B\1].=,0P!B2K?+SC&.S=^]`&Q1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`$"6=M'= M/=);PK<.,-*$`=AQP3U/0?E4]%%`!1110`4444`%1SP0W,1BGB26,]4=0P/X M&I**`(X((;:(16\211CHB*%`_`5)110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`5!:V=M91E+2WA@0G)6)`H)]< M"IZ*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBJ&KV]W1W M.IHK`UC[3::';J\S^<)`&=7.3PW>M32F9],MV9BS%!DDY)K.5.T>:YM&KS3Y M+=+ENBBBLS8****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M**S=,'_"K.GS M/<6,,TF-[KDXJG!J/,0JBZG81,]P(H57; M&F"<@=S5WQ5_R#8_^NP_DU7=(_Y!5M_N"K4W"DFNYFZ:J8B2EM8Q-'GN;'5O ML$S$H25VYR`<9!%2^+?^73_@?_LM,F_Y'`?[R_\`H`I_BW_ET_X'_P"RUHM: ML7W1C*ZP]2/9V_%#(+:_U:2.X9A';(1L5B>0/;^M2:A=W.HZD=/LW\M%.'8' M&<=?PK=M5"6L2J,`(`!^%F._'8TW1[.6\ML0ZI+"4)! MB7/'ZBK%SHS,R1W6L,S,?D60$\^V6JW**DXR>G:QG&,G!3C%\W>Z_P`SH58, MH93D$9!KG/$L1@O+:]3KT/U!R/\`/M706\1AMXHBVXH@7=ZX'6J6NV_VG2Y0 M!ED^=?P_^MFN6E)1FNQVUX.=)]QFM7BIHS2(?]>H5?H?_K9K/\+3&.::U?(+ M`.H/^?I5".9M1%A8W!_3%=/(HQ=/J[_\ M`Y'43_2H[^>:^UP6'G-#"#M^4XSQFI:?/RK[*+BU[-RDOB?_ M``PRZT&>Q@>Y@NRS(-QPI4X_.K5N[ZUH,LD_P#OC^5$I M:E M/S%*,N9*,79^FY4X\DG.:NNZ>QU0Z>M^9]XB/9CV)SG\*Z&WD\Z MWCE(V[T#8/;(K)\5?\@V/_KL/Y&L:#:J(Z,4E*BV5M(T3_CVOOM'H^S9^FXX1V)W'L& MZ'^E;1;G-N6K6QA**ITXJ.B;5R5O#ERJF5+S,V/0C]58+"I^:9N?H.O]*9YO]AZ''A09Y.<' M^\?7Z"JGF#6M>B*@F"-02#Z#D_J<5:\5PNUM!*,[8V(;\FB_4K0:/>:G$+B[NBN_E01NX^F1BF^=>Z#>(DTAFMW]^".^/0UNZ9=Q M7=G&T;#(4!E[J:QO$US'.\-K"1)(&R=O.">`*(3E.?)):?D*I3A3I^T@]>]] MQ/$UH"$OUER'*H%Q[$YS3](T3_CVOOM'H^S9^FAV"64 M4CQ7(N$EP00N`,9]SZUJ5R5.7G?+L=]'F]FN?<****@U"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`I:KI_]HVRP^;Y>UPV=N>Q'K[U-9P?9;2*#=N\M<;L M8S4DLL<*;Y9%C7U8X%$6N-V,9J>BCF=N7H"A%2YNIF/I&[6/[0\_'(.S M9Z#'7-+J^E?VGY7[[RO+S_#NSG'O[5I457M)73OL2Z,&G&VCU8V-=D:KG.T` M9JGJ.E6^H`&0%9!P'7K5ZFNRHI9V"J.I)P!4*3B[HN4(R5I+0PE\,J2!)>2- M&.BAP&0 M/I3K3P]!!,)9Y&G<^/6G5D;F3INAI879G\[S."%7;C&?QJQJNG+J5NL9D\ME;<&QG\*O4A(!`)& M3T]ZMU).7-?4R5&"AR):%;3K-;"T2!6WXR2V,9-5M1T:&^E$V]HIO[R\Y_"M M(,"2`02.HSTI:%.2ES)ZC=*#CR-:&,N@*8V%Q=2SMM(4MT4D=<9[?6K&FV*Z M1;3;YMZYWEMNW``^M:-,DC26-DD4,C#!!Z&FZLI*S>A*HPB^:*U.;\07MG>P M0_9W\R4-Q@'@'_(K:TBT^QZ=%&PPY&Y_J:(=)L8)?-CME#CD$DG'YU=JIU$X MJ$=B*=*2FZD[7?8R[[0[:\E,P9XI2@3!_/-;%G9P64 M/E0)M7J3W)]ZL4G09-$JLYZ284Z%.F[Q0M5[VU6\M)('.`XX.,X/8U.""`0< M@]Z6H3L[HT:35F9VDZ2NFB0^9YKOCYMN,#TZU>DC26-DD4,C#!![T^D)"C)( M`]ZU`%,ZC+;I.3YDR*@9'DA9,,2!@\#/4'CWJ2"ZF%S$OF33 MK(2'W6[)LXZ@X''U]:LI9)Y.AP.*C2YNYY+2,/Y)<2!R8\9VD8(!Z9S M^M7I[19I!*))(I`-N^,X)'H\[E..G/!YJY-9+)*TJ2RPNV`YC;&['KD?K0;%%C1(9980 M@P-C=?KG.?K0!4DOF+Q0I<-M,?F&:*$N6YP!@`XZ'-$=YN3S2O8QO$B%Y=R-N63?\`.#]? MZ=*`*]LLJ:Q*LT@D(@7#8P2-S=?>G27DEL;M)#O9`'A&/O!N`/\`OKC\14UO M9)!.TP>1Y'4*Q=LYP?\`Z].GM(I[B&9P=\))7!X/U_(&@"M&;J>5H!<>68%4 M.X0$NQ&3UX`JK(T]S=VJF*6Y$3JK_:(8]Q01Q]:F-A$S,Q=R6D20\CJN,=O:I6@4W`GY+B,H`>A! M(/\`2@#/GDO8K*.Y^U*2[)E0@P`2/N_GWJW=RR":"WA8(TNXER,[0.N!Z\BJ M/]GO)LC^RM"`ZL2TVY%`.3L&>^,=!6GV?SK ML9+`))Y>6^F!U/T%4GOIX[>]42N[11"1'>+8PSD8(('IZ5>-@C1;7EF9]X<2 M%_F!'<=A^5-;3(W6822S.9HQ&S,PS@9Z<<=:`(V>[5X8&G42SEF+!!B-0!P/ M4\CDTELLJ:Q*LT@D(@7#8P2-S=?>K=S;)W6II6N[1$GEG$JEE5XP@`&3 MCY3U[]ZM+:QAYV.6\\C>K=.F/Y"HH]/C1D+2S2)&F$JKJ(-IVCNQ!SZUHP0+;JX0D[W9SG MU)R:BFL8IGE9F<&79G!'\)R*`(&DN[>Y$7FBX,L3L@90N&7'''8YJ.*:26*: M-[J19?*),2&2263S""69NRN-TC><8[5W+,JA MB0PP,@=*DE:[M$2>6<2J657C"``9./E/7OWJ=;)-X>1WE(C:,[\'<"03GCVI ML>GQHR%I9I$C.41VRJD=/K^.:`*AFO3;7=R+D`022;4V`AE4G@_EVI\]U,LQ M:25[>$A2C"/5]_X`3_`/Q% M']LVO_/*^_\``"?_`.(K0HH`S_[9M?\`GE??^`$__P`11_;-K_SROO\`P`G_ M`/B*T**`,_\`MFU_YY7W_@!/_P#$4?VS:_\`/*^_\`)__B*T**`,_P#MFU_Y MY7W_`(`3_P#Q%']LVO\`SROO_`"?_P"(K0HH`S_[9M?^>5]_X`3_`/Q%']LV MO_/*^_\``"?_`.(K0HH`S_[9M?\`GE??^`$__P`11_;-K_SROO\`P`G_`/B* MT**`,_\`MFU_YY7W_@!/_P#$4?VS:_\`/*^_\`)__B*T**`,_P#MFU_YY7W_ M`(`3_P#Q%']LVO\`SROO_`"?_P"(K0HH`S_[9M?^>5]_X`3_`/Q%']LVO_/* M^_\``"?_`.(K0HH`S_[9M?\`GE??^`$__P`11_;-K_SROO\`P`G_`/B*T**` M,_\`MFU_YY7W_@!/_P#$4?VS:_\`/*^_\`)__B*T**`,_P#MFU_YY7W_`(`3 M_P#Q%']LVO\`SROO_`"?_P"(K0HH`S_[9M?^>5]_X`3_`/Q%']LVO_/*^_\` M`"?_`.(K0HH`S_[9M?\`GE??^`$__P`11_;-K_SROO\`P`G_`/B*T**`,_\` MMFU_YY7W_@!/_P#$4?VS:_\`/*^_\`)__B*T**`,_P#MFU_YY7W_`(`3_P#Q M%']LVO\`SROO_`"?_P"(K0HH`S_[9M?^>5]_X`3_`/Q%']LVO_/*^_\``"?_ M`.(K0HH`S_[9M?\`GE??^`$__P`11_;-K_SROO\`P`G_`/B*T**`,_\`MFU_ MYY7W_@!/_P#$4?VS:_\`/*^_\`)__B*T**`,_P#MFU_YY7W_`(`3_P#Q%']L MVO\`SROO_`"?_P"(K0HH`S_[9M?^>5]_X`3_`/Q%']LVO_/*^_\``"?_`.(K M0HH`S_[9M?\`GE??^`$__P`11_;-K_SROO\`P`G_`/B*T**`,_\`MFU_YY7W M_@!/_P#$4?VS:_\`/*^_\`)__B*T**`,_P#MFU_YY7W_`(`3_P#Q%']LVO\` MSROO_`"?_P"(K0HH`S_[9M?^>5]_X`3_`/Q%']LVO_/*^_\``"?_`.(K0HH` MS_[9M?\`GE??^`$__P`11_;-K_SROO\`P`G_`/B*T**`,_\`MFU_YY7W_@!/ M_P#$4?VS:_\`/*^_\`)__B*T**`,_P#MFU_YY7W_`(`3_P#Q%']LVO\`SROO M_`"?_P"(K0HH`S_[9M?^>5]_X`3_`/Q%']LVO_/*^_\``"?_`.(K0HH`S_[9 MM?\`GE??^`$__P`11_;-K_SROO\`P`G_`/B*T**`,_\`MFU_YY7W_@!/_P#$ M4?VS:_\`/*^_\`)__B*T**`,_P#MFU_YY7W_`(`3_P#Q%']LVO\`SROO_`"? M_P"(K0HH`S_[9M?^>5]_X`3_`/Q%']LVO_/*^_\``"?_`.(K0HH`S_[9M?\` MGE??^`$__P`11_;-K_SROO\`P`G_`/B*T**`,_\`MFU_YY7W_@!/_P#$4?VS M:_\`/*^_\`)__B*T**`,_P#MFU_YY7W_`(`3_P#Q%']LVO\`SROO_`"?_P"( MK0HH`S_[9M?^>5]_X`3_`/Q%']LVO_/*^_\``"?_`.(K0HH`S_[9M?\`GE?? M^`$__P`11_;-K_SROO\`P`G_`/B*T**`,_\`MFU_YY7W_@!/_P#$4?VS:_\` M/*^_\`)__B*T**`,_P#MFU_YY7W_`(`3_P#Q%']LVO\`SROO_`"?_P"(K0HH M`S_[9M?^>5]_X`3_`/Q%']LVO_/*^_\``"?_`.(K0HH`S_[9M?\`GE??^`$_ M_P`15BTO(KO?Y23KLQGS8'BZ^FX#/X58HH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M$)`&2<`5AW/B:&.0K!`TH!^\6V@_3@UJ:C_R#;K_`*XO_(UP5=>'I1G=R.#& M8B=*R@='_P`)5_TY?^1?_K4?\)5_TY?^1?\`ZU3MS?D;7_"5?].7_`)%_^M1_PE7_`$Y?^1?_`*U8=Y:O M9SF)R#QE6'1@>A%04*A2:ND)XNO%V;_!'1_\)5_TY?\`D7_ZU2V_B>%Y`L\# M1*?X@V['Z"N7HH>&I]@6-K)[GHH(8`J00>01WI:HZ,2=)MB3GY,5>KS)*S:/ M;C+FBF%%%%(H****`"BBB@`HHHH`****`"BBB@`HHHH`****`*FHZA#I\(DE MR2QPJCJ:QO\`A*6_Y]!_W\_^M4?BPG[5`.VP_P`ZP:[Z-"#@G(\G$XJI&HXQ M=DCH?^$I;_GT'_?S_P"M1_PE+?\`/H/^_G_UJYZBMOJ]/L<_URM_-^1T/_"4 MM_SZ#_OY_P#6H_X2EO\`GT'_`'\_^M7/44?5Z?8/KE;^;\CH?^$I;_GT'_?S M_P"M6GI>L0ZBQCVF.4#.TG((]C7%U?T0D:O;8_O?T-14P\.5M(UHXNJYI2=T MSMZ***\T]D****`"BBB@`HHHH`****`"BBB@`HHHH`*0D`$DX`ZFEJGJQ(TN MYQ_SS-.*N[$R?*FS,N?$\:2E8(#(H_B+8S^E0_\`"4M_SZ#_`+^?_6KGJ*]- M8>GV/$>,K-[G0_\`"4M_SZ#_`+^?_6H_X2EO^?0?]_/_`*U<]13^KT^POKE; M^;\CH?\`A*6_Y]!_W\_^M1_PE+?\^@_[^?\`UJYZBCZO3[!]-4C M"6*:F]/^`6XO"\('[VXD8_[(`_QJ<>'=/0#'EDT^,85+LX+NS$UAS5/MRL=7)2_P"745(L'P_IS'`#CZ/43^&+ M0YV33*?<@C^5-L?#D<3.;S9,"/E"DC%)9ZC_`&1"MG?PRJP)PX^8,*.:?V)7 M#EIZ.I!)&;J>B36$7G"198@<$@8(_"H-%_Y"]M_O?TK8UC5[*ZTR6&&4M(^, M#:1W!_I6/HO_`"%[;_>_I71&4Y4GS[ZG'.-.->/LWII^9W%%%%>8>V%%%%`! M1110`4444`%%%%`!1110`4444`%4]7_Y!5S_`-K_\`(*N?^N9JH?$B M*GP/T.(BC,LJ1KC<[!1GU-;$/AUY3A*$*B;DKG/?\(O+_`,_2?]\FC_A%Y?\` MGZ3_`+Y-;R3M&PCN<`GA9!]UO\#[5/7,\1574[E@Z#Z?F2Q]2 M:?UBHMV3]3HO9'G]=QHO_((MO]W^MJ_0L?99/,W^9\V,9RW3\ZS]? MBD32W+29&X<9/K]:W*R/$SA=*(/5G`'\_P"E<=*3E7BE2EZ'(4445ZI\^ M=QHO_((MO]W^M7JHZ+_R"+;_`'?ZU>KQY_$SZ2E\$?0****@T"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@#E_%?_`!]P?]<_ZUCVD'VFZC@#;=[8SC.* MV/%?_'W!_P!<_P"M9>FDC4K7!Q^]7^8KU*6E)6/"Q"3Q#3[H[&PTZWL(]L*_ M,?O.>IJ(3OYEV/MD7R`X&W_5?7UK0JKY-QNG.^'#CY/DZ?7UKSE*[;D>RX\J M2BBNUQ(([,_;H1O)R=O^MY'3TJ[<6\-U$8IT#H>Q[5`8+G;``\.4/[S]WUY[ M>E7*)/:P15[IG$:Q8KI]YY2.75E##/4K_P#(*N?^N9JY5/5_^05<_P#7,U4/B1%3X'Z'&V/_`!_V M_P#UU7^8KNY94A0O(V%%R_YY7'_?*_XUS>SJ]$=OMZ'61H`/9C`! MDMQV'+)_B/U^M3;UDA+HP92,@@\&LG_A)[+_`)Y7'_?*_P"-5I-?M%9GMHYE M9OO(5&UO?KP?>CV,WN@^LTEM(YRNXT7_`)!%M_N_UKAZ[C1?^01;?[O]:Z<7 M\*.++_C?H7J***\\]<****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`K:C_R#;K_KB_\`(UP5>@W$7GV\L)./,0KGTR,5Q5QI=Y;RF-K> M1L=&120:[L)))-,\O'PDVFD4ZUM#U4:?(T_[7%CTW<_EUKF=;U3^T)E6, M$0Q_=SU8^M4_L5W_`,^TW_?LT?8KO_GVF_[]FL:=&$'>YT5L35JQY;617HJQ M]BN_^?:;_OV:?!IE[/($6WD!/=E(`_&M^:*ZG(J%)BZ<_:MVW(O.E_YZ/\`]]&CSI?^>C_]]&I?[/O? M^?.X_P"_3?X4?V?>_P#/GC_P#?1H\Z7_GH_P#W MT:E_L^]_Y\[C_OTW^%']GWO_`#YW'_?IO\*+Q"U3S(&9F.68D^YJYHO_`"%[ M;_>_I47]GWO_`#YW'_?IO\*V-!TB=+I;JY0QJGW5;J3]*BI.*@]36A3G*HM. MITM%%%>2>^%%%%`!1110`4444`%%%%`!1110`4444`%4]7_Y!5S_`-NIQ>J9\ZZ_\^=Q_WZ;_``H_L^]_Y\[C_OTW^%'-'N')+L5J[C1?^01; M?[O]:Y2#2;Z>0(+:1,]6=2H'YUV=I;BUM8H%.0BXSZUQXJ<6DDSTH%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%8][KCI>R66G6,M_6^B:EJEGJDZ023W37,4LK;5D1L8P3QQCI0!JZ9K27MU+9S6\M MG>1#<8)<9*_WE(X(JTNHV+I&Z7MNRRG$9$JD.?0<\]#6''<1:QXNMKC3W,EO M8PNLTZ;Q3 MIDLC%G?0HV9CW);DUCVD:S>$O#4;C*/JBJP]07:@#T.&XAGW>3-')M.#L8'! M_"D-U;B?R#<1>=_SSWC=^5V:`/1J*AM1*+2$7!5I@B^85.06QSCVS4 MU`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`97B#5Y-'M;>2*U^ MU23W"P+'YFSE@<E:DDD<2%Y'5%'5F.!7#6FG6=SH/B>XGMXY M)H[FZ*.RY*84$8/;FI8Y(Y)_#K:RRMIYL@4:4DH9\#[^>/N],^]`'90W,%Q% MYD$TY@ME#7$ MT<2DX!D<*"?QJ0$,`000>A%<7E M;/A*&2#2Y%:>VFA,[F#[/(75$S]W)`Z'-`&Y1110`4444`%%%%`!1110`444 M4`%%%%`!1110`57U"Z^Q:=S?Y$3R;(!"4)$L;-G81[^F.]0Z!XDAUVXOUAA\N&T90LC/GS`=W.,< M?=_6L>U\./?Z9I<]K/\`9XKBUCCOE7@RH%!'X\8^AJ,7$.D7?BMULUF@B2V0 M0`?*5*%<'VYH`[""]M+EV2WNH977[RI(&(^N*QM2\13V>DZC>+:PYL[CR5`G M$@<;@,G;]T\_=/(K$ORD.HZ'+"^E>:UY&BFQ3:1&W&#RW@N4V7$,%)$C$2LJ`%4'10>P]J M:NGV2111+9VZQPOOC01+A&]0,<'WJS10!%]GA^T_:?)C\\+L\W:-VW.<9ZXS MVIIL[5IQ.;:$S#I(4&[\^M3T4`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`136\-P$$\,I8=\]\T[[-`(%@$,?DJ,"/:-H'ICI4M%`$4-M!;Q>7!#'%'TVHH4 M?D*9]@L_L?V/[)!]E_YX^6-G7/W>G7FK%%`$,]K;W*!+B"*51R%=`P'YU(JJ MBA44*HX``P!3J*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`ILD:2QM M'(BNC@JRL,A@>H(IU%`#(HTAC6.)%2-!A548`'H!3%M;=9)9%@B#S8\U@@R^ M.!N/?\:FHH`JKIM@BHJ65LH1Q(H$2C:_]X<<'WI6T^R>*6)K.W:.9]\B&)<. MWJ1CD^]6:*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#$_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4 M`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y' M_&G?8_:C['[4`-_M>Y_N1?D?\:/[7N?[D7Y'_&G?8_:C['[4`-_M>Y_N1?D? M\:*=]C]J*`-;8/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=10`W8/2C8/2G44` M-V#THV#TIU%`#=@]*-@]*=10`W8/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=1 M0`W8/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=10`W8/2C8/2G44`-V#THV#TI MU%`#=@]*-@]*=10`W8/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=10`W8/2C8/ M2G44`-V#THV#TIU%`#=@]*-@]*=10`W8/2C8/2G44`-V#THV#TIU%`#=@]*- M@]*=10`W8/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=10`W8/2C8/2G44`-V#T MHV#TIU%`#=@]*-@]*=10`W8/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=10`W8 M/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=10`W8/2C8/2F7$K11@H`23CGM5-K MZ=>J)CZ'_&J46R7-+F3P?QJY2::W&FGL-V#THV M#TIU%(8W8/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=10`W8/2C8/2G44`-V#T MHV#TIU%`#=@]*-@]*=10`W8/2C8/2G44`-V#THV#TIU%`#=@]*-@]*=10`W8 M/2C8/2G44`-V#THV#TIU%`#=@]**=10`4444`%%%%`!1110`4444`%%%(""2 M`02.M`"T444`%%%%`!14*W=L]T]JEQ$UP@W-$'!=1QR1U'4?G3Y98X5#2R(@ M)P"Q`R?2@!]%%%`!13(YHY=WER(^TX.U@<&B*6.92T4B.`<$J0<'TH`?1110 M`4444`%%(S*BEF(50,DDX`%(CI(@>-E=3T93D&@!U%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!%<;=@#MMYX.,U4E2` M@?OBOU4\U/?G$*G_`&OZ&JEX<16Y]5K6",9OIV[+C)<+S[\?UJ[+P_J$D;LCK;N593@@[3R#7C\>JZO*X2/4+YW;@*LSDG]:]>\2?\BYJ M7_7M)_Z":\E\-3Q6WB&QFGD6.))069C@`5SG4..JZ]82H\EY?POU42NV#^!Z MUWW@OQ4^L)):WY474*;_`#!P'7N3Z$?UJCX[U[2+W1?LMO/'3HFHR!5D8`87@9^E7?AI_P`C M')_U[-_Z$MM>=6OG" M[A^S;O/WKY>WKNSQC\:`/:[G6]+M)S#63,6B0"1`3]TYP@DD"G]:9;ZQIEU*([?4+660]%2523^&:X74_`EY/K% MU,MS;06LDK.C2OSSST`]3BN=U_P_=:%)$)WBEBF!,V MA=%<]2I3C/KW_2N$L!=->Q)8[_M+G9'L.#D\<'MUH`]GGUS2K>2:-(0,F1F`7'KFO&-:T"_T-HA>QJ!*,JR-D''4?6I=* MLM7\0(NG6LC/!;Y<*[X1,_Y_G0!ZQ:ZWI=Y-Y-M?V\LAZ(L@R?IZU?KPB\M+ MC3;V2VN%,<\+8(!Z'J"#7LWAVZDO=`L;F=MTKQ#F:`-&BBB@`HHHH`** M**`"BBB@`HHHH`*6DI:`"BBB@"IJE]'IFFW%[,?EA0MCU/8?B<"N`\*ZFEEK MUM+)?),VJJ?M*C_EG*6)7/YX_$UW>KZ3!K%JEM`2"2PC$40!&"`.-W')&:`,Q=4US4[G4/[-EM88+!S%^^3+2NO7/ MH.*IR>*-6OET;^S8X4EODD#)(/E#*<9SUQU-;5_X3L;R]ENEGN[5I_\`7K;R M[5E^HQ5A?#UC'=:?/")(O[/5EA12-I!&#G(R?SH`Y6"[GTWQEK5W.P!'3]>*`+?B M35;JP-E:6"1F[O9?+1Y!\J#C)/YBLB_U76;7^TM*NIK=[A;)KF*XC0CY1]X$ M>N` M@#)EUCQ!!=ZGISRV\ES;VOVJ-XX^"`1E<=^"?RJ5O%4\\T6'R64D;-N0>F,YX]:@TOPWIVE0W<,$;/'=D^8L MF#\O/RC`'')_.@#GM+\4ZC)=V!GDCN8KM@LL45M(A@ST(8C!'KS4MCXAU27Q M$UE>S068,S(D$L#`NG8JW/Y5KZ=X8MM.O(YXKR^:.+/E0/.3&F?04R+P MG9)J45X]Q>3>3)YL<,LVY$;.B^U3VFJZDEOX?LM.:WA^V0N2&3*J1D\5N)X5L4NM0F2:Y47Z.LL8D&T;@< MD#'7DXSG%2V_ANSMYM-D22 M]^R+*%P@Z_,?;Y3^8JXFHZU:>)--TV^NK6>*Z5F8Q1[3P"?Z=:N7GAQ$L-22 MSCCN);^;SG2[;Y`2V3C:`1U.*S=#\*3VNMV]]+;VMG%;JVV.&1I&=B",DMVY MH`WFTER?W=R\0RQPAX8%B0#_`..C\,=#6I6;H6B6V@V3VMH\KH\AD)E()R0! MV`]*TJ`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`2BBB@`HHHH M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@" MKJ+JEM\RYW'`]C5:[<0I9NZ[@%Y'X"K&I7"6T*221"0;P`"<8.#S6=-KD.OZUD6"?:M8A"#:JOYAP,A M0.JVC7VEW5HC!6GB:,,>@ MR,5QVC>`[O3=6MKQ[R%UA<,5"G)KD.TJP_#6X+CSM1B5.^R,D_J177Z;H=IH MFES6]DARR$N[E>%?"%QH.J M-=RW44JM$8]J@@\D'^E9VO?#^XN=0EN=-GA"2N7,K8W*3E("S;<_+D''\C7DWA_P#Y&'3/^ON+_P!#%>A>%?"MWHUIJ"7,T+27 M<811'DAM_P#K M[7_T!ZYOP->-81:Q=HH9X;0NH/3(/%=SXLT.77],CM89DB9)A)N<$C`5AC]: MS?#7@]](:\6\GBN(;F'RF501QWH`X+3XI_$>OPPWEVWF7#$-*_.."<#^@K0\ M7^'K7P^+9+>\DE:4DM&X'`&.>*T+OXIZ>]S$[WBE5<`X7*DR7D,BPMDJJD$\$?UH M`7XH_P#'A8_]=6_E57X6?ZW4O]V/_P!FKHO%WA^;Q!;V\4,\<)BU M1>$/#,_AY[IIKB.;SPH&P$8QGU^M`'"^._\`D;[[_MG_`.BUKT?PA_R*VG_] M8H\O_??EO_K= M>U7***EMMW9<8J*LD8?C2>:V\+7LUO+)#*NS:\;%6'SJ."*/!<\USX6LIKB6 M2:5M^YY&+,?G8828).=FWT'3_(KLO#IDOO M"EKY\\K230D-+O._G(SNZY]ZL+H6G+;7EO\`9\Q7CF292Q.YCU/M^%6K*TAL M;2.UMEV0Q#"KDG`^IH`X"+5=3G@@\-FZN%U(7K1R3AVW^4.<[NOK^`KL/$\D MEKX9O7@EDCDCB^5U8AAR.<]:L)I%BFK/JBP`7CKM:3)Y'`Z=.U3WMI#?6DEK M#[$U;U32;'5X!#?P"5% M.5Y(*GV(H`QO!=XLT=Y;-<7[S0.-\=[RT8/8'OR#_A5/Q=:W-OJ%E-!JNH1" M]NDA:..3^.*\RL==U]-%GB5[B87(9X[E MI"S1!!E\'MP!^=>K5GVNBV%IIDFG00E;:0,K*6).&&#SUH`B\+32S^&[&6:1 MY)&CRSNQ)/)ZDUQ<FS6T4]F]I(N89( MS&RYZJ1@C/TJE+X?TR:RM;22WS%:MNA&XY4_7.:`+&IV1U"T,"W5Q:G<#YEN M^QOIFN;\!17-U8C4[K4KZ=RS1^5+,63MS@]ZZ^JFF:;:Z5:"VLHS'$&+;2Q; MD^YH`Y?QC_:G]J1M#)>?8$AW.EE*%D4Y/S$=2.E=!X:X!7!DF M&')!P<_C3-5\-Z5J\ZS7MMOE`QO5RI(]#@U?LK.WL+2.UM8A%#&,*H[4`3T4 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 00`4444`%%%%`!1110!__V3\_ ` end GRAPHIC 39 genericproxycoverfinalx3x1.jpg GRAPHIC begin 644 genericproxycoverfinalx3x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@" M*P+-`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHK-M+J[NYGDC,"PQRM$T+J1(-K$;MV<<@9`QT(YH`TJ*S MUU:U1%$LP>1S)M6*)V+!'VG``))'`/XGI4TNHVL4<;F0L)!E!&C.2/7"@G`[ MGM0!:HJJVHVBNB&7)<`@A20`>A)'`SVS2'4[,3S0^>-\'^M&#\G`/)[<$?6@ M"W169>ZO'#9"YA^8">.*0.C!E#.H/R]%Q$3$`X/G#*8YW#&0TN'SM)VG:&[`MC`/(X)S0!:HJM]NMA` M9O-'EK+Y);!^_OV8_P"^N*B&KV+*Y28OL8HVR-F.X$@KP.3P>!SWH`O45'#* MD\2R1G*MTR"/T-24`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5D7,-S<7<96R$$Z2*?M: MLI7RPP)7^\+;'\@4 M@EUW=N"OKT'6IIM*N98-21',3S7<<\3@C+!5C]04/S$@^GW5_X! M6U10!B2H+G71#`\;P9$MTHYV.F-H/H3E3_P#WH>RNOL=SIJQ,4GDD870<#:' M8L<]]PR<<8X'(K;HH`P)[*\6VDLHK8NK7JW/G;U"[3,)",9SD<]L>_:IH;&2 M'2O+EM6ED%S+*%BD"N,R.593D#.".XZGZ5LT4`4+*6ZC$$%TA>1P[%^/D`/R MAL<$X(SCC(-7Z**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HJ*XN(K6!I MIY%CC09+&LNZN3+!YUZ\EG9E@J1#(EG)Z`@,D>F/KIT` M%%%5[Z\@T^SDNKIPD,8RQH`L45!97`N[.&X$;Q"5`^R089<^M3T`%%9EOJ1O M-LUS]ALR#0!DG<3P*W:S;&RF:Z.H:@1]I9=J1*I?0&:))40.R#S%VDX." MM/H`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"J]Y>0V40>9C\QVHJC+.W8`=S7( MZGXHU!-0L6M]*NXI1YD;03C`E)V\+CKC`Y]S6A9Z1K5S?&]U2[AAEP53R,L8 ME/4*#PI/8]`?]H_1<][,%L;KS M1&9%)!'$=NG<+G]6ZGVZ5*D=AHEE)*S"*/.Z261BS.WJ2>2?\BLN*&3Q+N9A7_A+;Z*ZD1AI%L^Z)6!'GN#C)'I M_GN11<2?\)==BUA\Q-)MGSM#2-4\_4KW3?LJVZ69V1J.#M& M!G'8'M[4`;-<]K.LM)=_V1I9>2\;_7&+K$O?GH"?4].O7`+M8MY]5OA:6=]< MQJH`N#%(%2(?@,ER.V<#J1TSJV%A:Z=;B"TB6-!U(ZL?4GN?>@"OH.GPZ=8> M3$R/(7)F9#D;^X]>.!SSQSSFGWEW(TWV*S9?M)&YW(R(5_O'W]!W^E@`[FENKB*TMWGF;:B#)[D^P'<^U8B7;"X-Q<*D MVHD'R[96^2T0]W;^$^K=3T`H`DF2YNKB-+C:+MAN2%3E+9,X,A/1G]/?IP": MT+J[M-(M(U8$+Q'#%&-S.>RJ.YJA::CIMI:SRQWL=[^!ZD]3^%`&%LDM]?M+_4V`N!;3SRA22L"+M`4? MFX2^753:A5WS6JQAU@BZY<]G([=R<#@9K6V"Y\57"R('BBL5C* MLN0=[MD?B$%:*6-I':M:QVL*6[@AHE0!3GKP.*`.*UG1[C4K*-M0U.4WS/YD M5HY&0@'W=J#ANF3@XZ<]3J:;-K6H:>;9I8[&.W'E271;S9&(Z@'@`CH6YY!Q M[=!9V%G8(4L[6&`'KY:!<_6JPT#2Q(SFT5]S%]KLS)DG)(4G`YYZ4`9$6H3R MW$6G:+=M+!:@&YO)CY@.3DY8]>,]/4<@`TFKZM-JMS:Z7I@';M5Q;:%+EKA4`E9%C+ M?[()('MU-`"6=I!8VL=M;1B.&,8517-W=Q<77BZYM+!V@N(XHXGDVY'ED,S- M]02@'N?2NKJO#8V\%W<74<8$]SM\U\GYMHP/TH`;:6T=BD5K;0D0@$E]V>>. MN>23DG/M46JZ@UE''%;H);RX;9!$3@,>Y)[`#DU?J#[)!]N^V%,S^7Y08GHN MTC1/,N7E(VD[4/"@$87@\>O%1V][;S.9IQ M=WTA?_1K6Y9RBX_B;CYG[X4'&1QWKH?$3312Z9):LHG-SY2ANGSHPSCOC@_A M5B5;30[*:[$;22XY<_-),Q.`,^Y(`'0>PH`Q1?Z_/Z"[HE/_/-% MR,J.I/7/?J!T%[IMIJ"1I=1;UB;POJ&L7DMQ;6[%[:WM4,9D`'^L.#D`\@9/\\5,RP06B/JD M"C8GFPZ3;CY8P.=TGK[EN![FMX:#IRZ>;&.#RH"P<^6Y5BP.0=P.HB2WN88(KO5;C>@!8"*S4#/E@D@!\+&9RX'4*Z9#$],]`.@KKSIUD;1;4V^%`%`&E1110`4444`%%%%`!1110 M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%% M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444 M4`%%%=8;<73,20[!%\K=C&`.W3GWH`ZNBLR75'C26<6X M>TMRRS2B3D;?O$+CD#G/(/!X-5H=2G@N-5DDC,EK;W&6D,GW$\I"=HQSCDGI MU[T`;E%9T^I^7),8XA)!;D+/)OP4R`>!CG`()Y'XU2OM7O'T;4[FTMQ";7SD M61Y!RR,1N`P21R"..X8$8&>WK4;Z MS+&UTSV86&S*B=S+T!16.T8YQN]NGX4`:]%9LVJ-<Z0![.W9EEE\SD;?O$ M+CD#G/(/!X-5[;4)1>7\$>)YC=$0H\FU0HBC)YP<#+=@>6H`VJ*Y^WU6Y2^O M8I(AYC7(1$EFVHF(HR0&P>N20,<\]*WD)9%++M8CE)92)//DN(Y-O*,SENG`;/`/.<@GD\BFMI#M)>K]I'V:]?=+%Y?.-BJ0#GC(7G@_AUK5HH`R+C0 M+6:_>Y$-J3*09/-MED;@`#:Q^[P!V(J?^RHVTN[L7D8I]7**`*C6$;WT]Q(0ZSP+`T9'&`6/Z[_P!*HW&@1SF*23[-/-$OEAKJ MV$H*9)`.3G(SUSSW%;-%`&-+I>^>R@C@\J"V;<[H%1'7KL"CD?,%/3''?)J> MXTE9[?5(C,5_M#J=OW/W:I^/WBVM'_M0W."*X>WCY(R1+L#,3PH]?SR.E$>LR M30S+;36UR\3J&G@4R(JL#\Q4,3P1@@'WXK073K<6LEL0S1R2M*$K)'G#L\CHHSS@ M9Q],FH+Z]N-.U:.>^>!@EG+M93Q/"`\+?NR))-F#@G!'/?T/M3=4O+\*;5;B*.XBN;8F1(V"LDDF`,;L]0<\ M\CTSQJ-IJR6YAN+F><%T?(%5G7;NP<9'(QS@=JCM=)M[66*1&D9H M_-P7;.?,8,V?Q`H`KVVISZ@1#:^3'.BEI3(I91AV3``(ZE&YSQQQ5:TGGCT" MY?E9FO)4)4YV;IRI()],D_A6@ND11JOV>>>!PSG>C#)#N7((((QD\<9'8U+; M:=;VUD]HH9X79V82'<3N))Y_$T`4-8TZTM=$U*:WA$&1 M\229`)V#/8'T.3D<5)I*7#ZOJDT\D#A)_*7$)#@;$8`-N/'/3')R?:KQT]// M,L4TT.X@R+&0!)@8&>,YP!R".@J6WM8[>2X=-V;B3S'R>^U5X_!10!@>%[:V M:PT^4Z&$E\E6^V&.'D[?O9#;N?IGFKTFLM!)=1S*@-BC2W!'.4P2FWW./PP? M4&IK'2GL4ABBU&[:"$!5A81;=HZ#(3/ZU(=*MF4!PSGYPY;!,H;[P;U!X_(4 M`9R>(XE8QFYL[J1T#(+:3(5BRH%8@GNZ\\=^.*N27-[:SVD=P;>07%QY>Z-6 M7`V.W0D\_*.<\Y/`J==/7RI(IKB>>-QM"R,/E'L0`<^YR?>FG30\9$EW^OJ61#=V-H9%,R/ MXA,#(R2`3G/''!J5KXZAIUBZ?*EW,(Y&B?(``;.&]"5QGWJ[-8(YC:&66VD1 M0@>+'W?0A@01^%226L2:/HY\VTS?S*TI:U)\S,3-\_S_-]WV[=,8/2V M]B(I?-EGFN)`"%:4CY0>P"@#\>M,BTRWBM[&!2^RQ(,63R<*5Y_!C0!2M+^6 M4_9+5((IWFN3N*DJJI)M+8R,DDCC(ZFB^UK['.;:6YL8)XXA*WGOM63)("KD MC'W>3SC(X-7/[*A5,12RQ2"22194(W*78LPY!!&3T(/0>E*^G*65X[B>*4*% M:16!:1(=1OB3-/;W<"+&(+W&[ M-<>LQZ]?6I"RR+D'YO2@#N++Q_;NVV]MC%[H=WZ5TNG:M8ZFA:SN%DQU7HP^ MH/->./\`>YZTZWFFMIEE@D:.13D,IQ0![=17(>'/&(NBEMJ>V.4\++T5C[^A MKK\\4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`! M144US!;C,TR(/]IL5F7/B.RA;:F^;_<'%`&Q17/_`/"50]K60_\``A2Q>*[5 MB1)!,A'T(_G0!OT5DQ^(].<9,C)_O"K<&J6-P0(KJ)B>V\`_E0!;HHHH`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`6J*:O9/,T0>0%7, M9=H7";@<$;R-N<\=:O5SEC!>7EC>V@C@2UEN[A3-YK>8!YK9PNW&?0[O>@#H MZ9'(DH)C=7`8J2IS@@X(^H/%84MW-%I,I>=EF_M(1KEOFVFX&%^FP]/2JL,! MM=+E:":XCDDU3RB?.^>O7CUH`ZBHC/ M$+E;^#^58`^V21#S#,L4+29@-T%F*C!#;E8@[3D8)Y!!)]:UV$ M\[6;^":X61=,CFB;SG7DK+@E0#G!(]\'\JP;7[3?W4OVN::)TLK>79#,0JR'S,GY3@]!Z M@^]0:8/MEY/?O,\,\NG6TV_S6V*S+)DE!]2:`.HHK,TEMDDUM(9?.1 M5=PTQE4[LX*L>><'CC'I6G0`4444`%)2TE`!1110`4444`%%%%`!1110`444 M4`%4=7U6VTBS-QE`":YKESK-UYLYPHX2->BBLHL2:7&:-I-`#:`,]*>(R:D2!B1@MN_#8-2&W.[@SLHK=K99FCXWLY!([5RS+SS32G&10!Z+8>.K&'->ET>ZS]Z%^&3-`'K%%5[& M\AOK5+B!@R./R]JL4`%%%%`!1110`4444`%%%%`!1110`4444`%%%17%Q';0 MM+*P510`Z65(8S)(P51U)KG=1\1,S-'9C:/^>C<5GZMJDE](<$K$#A5[FJ<< M!89;@>E`#)97FD9G)]`&UI/B6ZTZ15=VF@Z;7.5J_0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`"TU$2,$( MJJ"2Q`&.2VA:4@#S"@+8!R.?8\TOV2V\UY?L\7F.5+/ ML&6*],GOCM4U%`$,MM;SAQ-!'()`%<.@.X#H#Z]3^=$=K;Q;?+@B3:=PVH!@ MXQG\N/I4U%`$?D1;=OE)MW;\;1C=G.?KGG/K1)!%+GS(D?*E#N4'Y3U'T.!4 ME%`#=B>89-B[R`I;')`Z#/XG\Z;Y$)@\@Q1^3C;Y>T;<>F.F*DHH`KM86;0Q MPM:0&*/E$,8VK]!VITUI;3NKS6\4C*I4,Z`D`\$<]C4U%`#/+3>'V+O4%0V. M0#V_0?E4B@!@C0,S!%#,`I..2!T'ZG\ZC M^R6VZ)OL\6Z%=L9V#*#I@>@J>B@"*"V@MD*6\,<*D[B(U"@GUXJ6BB@`HHHH M`*2EI*`"BBB@`HHHH`****`"BBB@`HHH-`'$_$'42&M]-0MA_P!X^.XS@#^= M<"P+S;$&3FNA\97'VKQ!/(IPL6(_`3*MS]*V8HQC@59V94"@#FH]#F!PR@CL16A#HL8"LS'/<8K5;@8` MI.<4`4I+"W)X6H3IT9;)6M`^E!`^E`&3+91@$*,8JA-!L)^7CTK?E0`'I6=. MH)XH`PYK<9STJF^8GQU'H:V+A=BX(ZUEW.#CU[&@!8W20@`X[[6_I1-#@EX^ M1WJLK=BO/8BIHYF''4_SH`Z;P7KBZ?,;:X*`C<648![>A MKU/PK>F^T2%G;=)'F-B>O'3],4`;%%%%`!1110`4444`%%%%`!1110`4444` M,FE2&-I)#A5')KC-8U*2]GQAA&.$3-:GB&]RX@1N$Y;ZU@VT7FS&5NG:@"6W MM\`%A\QJV(_EIR+\HQ4N.,4`0XXZ5$Z\U9*\]*C=<@D4`4Y%JK,N!C%7G7'6 MH)@*`,N53TQQ55@0:OR"JDJT`5<9--*X/%2J/F-(U`$EC>W&FW27=NQ!4\X[ MCT->H:5J,.J6,=U!]UN"/[I[BO*22O/53U%:GAG63H]_MG4 M4U'61`Z$,K#(([BG4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`"T444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%)2TE`!1110 M`4444`%%%%`!1110`55U.\%C82W!QE5^4'N>U6JY7QQ=;+:*$-CJQ'Z#^M`' M'V5F^IZN#)EP6WN3W[FNJG89"*,`5F^$XL+-.W7;U-7G.7-`$B<5/_#5>,9J MT@^7F@!NWYNE1MPV*D:"Z'J:8RD]C3&4KC`-`#9F! M!`JA*`.IJ\1_>JK-&*`,N\Y&!P:S)\8QC/J*UKJ%C&2!NQ63<+DY%`%5EXR. M130Q#Y/YU*1D$KP>XJ/;N''7TH`FSDG!P"N?QKMOAS<,1=P$\85Q^H_PKA%; M("GKCFNS^'1QJ%RO?R?_`&:@#OZ***`"BBB@`HHHH`****`"BBB@`ILCK'&S ML<*HR:=535&"Z;/G^[B@#D+^0W-R2#]\EC]*F@C```'`J%4(F8GKT%7(UZT` M31J#4FP]A@4(!@"I"*NR#Y*IN#F@ M"G+'DD8]ZIRKC(K1EX!Q5";T[T`4U^\::U3!?ER>M1/ZT`)U%0E<8':I=WX4 MT@E>!0!W'@G5_/MCI\SYEB&8\]T_^M755Y1HEV]GK%K,O'SA3]#P:]7H`*** M*`"BBB@`HHHH`****`"BBB@`HHHH`****`%HHILDB11M)(P1%&69C@`4`.J" M[O+>RA,UU,L2#NQZ_3UK/74+K4F*Z9$$M\?\?DH^4_[B]6^IP/K4MGHUO;S+ M,\QJ%_(5SUMI]S,2WF`'/>@#8@&<8JU@[>E9 M$=M=VSAB&*8Y(Z5J13JT7)Y%`#+A20!C@T@&T8-3R_-%N')%49LN""2.*`%> MZ@3.95`^M5GU2T!QYRFJH&TL6[[H6(7TI5+`X/.?TH`B/!(SQ65J5D0#+#T[K6M*.P;MBBB@`HHHH`****`"BBB@`HHHH`*S=><+ MIY0G_6,%K2K(\2(#8QOS\D@-`&&`/.X].!5B('&35<<2(?7BK0Y`%`$JCWJ3 M!QFF)M"G+`4TW<0.W>OYT`#CG-,Z'!Z4/*&!Y!JO-*?+R/2@!9VXXJF[*#R1 M3+FZQ$?6L.5[FXD(3)'J!TH`UWFBZ%Q5.]-\T9Z-^5 M12RL.=A"T`2Q,%G1AP`P/TYKV%6#*&'((R*\6$@.<5Z[HTWVC2+27.=T2_RH M`NT444`%%%%`!1110`4444`%%%%`!1110`4444`-FE2"%Y96"HBEF)[`=:R; M>*76]MU>J4L@VZ&V(^^.S/\`S`JUK<$ESI%Q%$I=BH.P=6`()7\0"/QJ:QO[ M;4(/-MI`P'#*>&0^A'8T`6``!@#`%+110!%<3);6\D\IVQQJ78^@`S67XVTZ9"PMXQ\TBC/)/?^7UP:`.X;7]+$T4*7<^.IKKR0H))``Y)-`"UFZAKVG:=, ML-QMM+%I9^SV2G:U\W5O41C^IJQH::1$DT.ERQRN MC#SG#;F9O5CWH`U1R,UBR3:_97+XM8-1M225*.(I%'H0>#BMNJFI7T>FV3W, MJL^W`5%&6=CP%'N30!DWWB2ZLK5YY=%N(PO_`#UEC4$^@P23^`IFF77B+5WB MGEABTRSSNP1OE<>F#T'X"EDT^]DAFUB]59;^.)GM;7JD!QD?5NF35EO$5LV@ M#4K8K<.0JK$AY,AX"XZ@YH`-4U"XGU!=(TPXN&7=<3?\\(SW'^T>PJWIFD6F MEJWV=6:5_P#632-N=_J:I>'8K>T-S"]PD^I,PEO&`Z,>@SZ#H!4DGB&U;58= M.LA]LG<_O#$PVQ*.I)_I0!L45G:]=):Z7*S71MF8;491ER?11W)JI8QZKJ%Y M'?WDCV-LF?+LE^\WO(?Z4`;E%%%`"44M)0`4444`%%%%`!1110`4444`%J^K*[22,`"0V..]365L/+0HQ5BOSD'&3SUH`6U\2*2R.CJ`0.@/7I MQUJOKEZL4RM$NUS]X#H?PJ_'96=L-S)&3[BL6]5;B];8N%SR:`.AT^7?9(S] M3S53679+<-#DG<,@>E20G9$JCH!Q395$Z[&S0!F0W$LA`C;'L#_,U&^L7%M< MF$KNVDY8OGI5R.T,KDR M0L.$`_"JE59?EZ]:O(,+R*J3XSF@#GKX$S.>G-4#QS6E?@ M^O MEC^=`'H5%%%`!1110`4444`%%%%`!1110`5GZ\N[29SC.W!_45H4R6,2Q/&W M1@0:`..#J\:,#R*DDG\N(D#G%9-S]KM)Y88XRQ1\W&6#A5^M5/L\44H\R\4MWYS3WN+B\F9$RB$X!/I["LN;3KQ[H!HF55&&.',CG([*,FL&WL7C#RJ%D5!T-;-A\FDQL^=\ M@+,3U)H`Y_4+Q7D81YP.QMG*QMXP$#9/"]F_WC574"YN&D3AAE3]*DTZ[ MFAV#8#&?;F@"779;J..,1S2LQP2%`5!QR!6<(;AH]S;F!Z[A71&2`INV'GTJ M"5O,'R12!?IUH`QU+LNQ\\=,BI0H"<#%6FMG:8LR^6OHW8U'/&$'4Y_G0!5? M.0:GK37Y%6.!:A^V/ZT`4V`C4X`KTSPE,LWAVTV_P`H?P->9S$E2?: MNZ^'DQ?2)XS_``2Y'X@?X4`=71110`4444`%%%%`!1110`4444`%%%%`!111 M0`M4+S2+2[D\UE:*?_GM"Q1_S'7\:OT4`9ZV-W%CRM4G8#M,B/\`J`#^M9VO M:K>Z/:!OM5K)<2L%AB%NV6/K]\]/I6EJ^JPZ5;"1P9)I#MAA7[TK=@*HZ7HL MIOO[6U9_-OF'R1C[EN/[J^IYZT`4[G9$`+'U/K4U M`&/;>&=.@BC!2229)!*+AW)EW#_:]/;I4^OV<^H:+=6MJX665<`DX!Y&1GW& M1^-:-%`&#!I%]=VT<.IS1V]J@`%I9Y"D#LS'DCV&*OP:1:6VH"\@0Q.(?)V( M<)MSGIZU?HH`*R;NVFG\16+R(S6D,3NN/N^;P!N_`G%:U%`$%\6%C<%%+-Y; M84=2<=*Y'2O#/]IK;7.I6?V%88418XCLDE8#EW(Z>PZUVM%`&#_PA^B^9O%L MZY`#*)G`;'KSS38="NM-O;B71Y;6&&Y(+K+"28\?W<$<>QKH**`,RUT:**[^ MV74TEY=?PO+C"?[JCA?YUIT44`%%%%`!24M)0`4444`%%%%`!1110`4444`% M1S@F%P.XJ2FN,HP]J`..N4V7LBL/XB?PJU$J>6"*;JL1,QE`[`&FPY$8^E`% M:^0LV-W%48X3OJS>EBV!UIUM$3D=P*`)22$`%)$NY_G;%.?(7![4UD(&*IM=>5*I.<'@_6KRG>NX<9H`CV9!RV?:HS&`>E3LF5S M49/K0!!,VT>U4)CDU=GYJA+U/I0!F7PS(2!P5JKIL/G78R`RI\Q!Z&M*9<\] ML4M@88@X)5&)SD]Q0`_5U\JVDP<(R8QZ9J_\-`?MMZ>,"-1^M9NHW"S6,X(P M,``D=\UJ_#(?O[_UVK_,T`=_1110`4444`%%%%`!1110`4444`%%%%`'):A# M-!K.1UJQ/Y3X2&+D_Q8IK!DDW;2X]!4RO<,/W<*IGNYS^E`$0M0D!3H MSC!Q2M&@A"J.%&`*'#H_SR>9*W'H`/84YMHB!+#)H`Y744V3MQWJ.S=3*$SR M>@-6M6=/,8=ZS6*L`5.&'((H`Z-`548B)_$427#H.8#_`-]"J6F:HDJB&7AQ MT)[U=F88-`&?=79=3N0@`]*IRR[UV^G2I;D\FJH'-`">M(22I0GC&*7O2'J? M7M0!7C.X%#[UZ%X!MS%H9E(P9I"1]!Q_/->?I"P<(OSRN=JJ.I)KUK1K(Z?I M-K:MC='&`V/7O^N:`+M%%%`!1110`4444`%%%%`!1110`4444`%%%%`"T44U MG1656907.%!/WCC/'X`T`95GH@CU.34KZX^V79XB)3:L*^BKD\^]:])TZTB. MLB*Z,&1AE64Y!'J*`'444QI$1D5G56*`'T44Q9$=2R.K`$@D'." M."*`'T5"+FW(!$\1!"D$..0W"_GV]:D1TD7]9/V^X2_S!C8>"C5LZO.5C M&._`K*L8`\X=_K0!'&:;)&J1L0..N0:9#(K1A@>M`%\R< M8S438.3FF@;DI@/IWKFHVQ(".A&:[<@,"#R#7&WMN;34)(,$*#E,]U/3_"@"9'Y% M63,B1%C5%3BF7,NV!N:`&++)/-,\8+E!@5G&XO9T($)5D."#WK7TY/)M`3]Z M3YC5@JO7`!H`XN]CED8ED?GKQ5-(S'\J*0*Z]%$LLJ.O?(K-NK54E.!C-`&/ M%$P8,O##H:W(+@2PC?D-BJ4I1,;<9J:RVR!57[Q-`#;A#@DCK5,#G%;EW;A8 MLX[5B/\`*^*`&GK3&ZBGFHI3@9'K0!TG@FP2ZU5[J0!A;KD`_P!X]#_.O0*Y M+P!'_HMW+CEG49_#_P"O76T`%%%%`!1110`4444`%%%%`!1110`4444`%%%% M`"UC:]/]FFT^Y5&D\F663:HR3B"3@?RK9JK%I]K#.TT<>'.>-Q*C/7"YP,]\ M#F@"D\UU;/:F6X-PMV2C*$`"'86RN.=ORXYSU'-95K>W>G>'[79.7WZ0\\>Y M5Q$T:)@#CD?-WST_"NA@TZUMW+Q1$'!`!(V`!7\E'Y4`5X)KB#4K>VFG,XN87ER5"["I08&!T._OD\=:SM9N5DOY M7$=P\EBJF#RH)'!DR&8$JI`X"KZX9NE=`;>(SQS%!YD2LB-Z`XR/_'1^5+%# M'"K+&N`S%SSG))R:`"WF2XMXYXF#1R*'4CN",BL+39-16TO!;VMK)%]KN<-) M1]-L("1Y<<6F,O'.6DYY_X"*WO#_P#R##_U\W'_`*.>ITTNR1558``B MQ*HR>!&""*VC\N%-B;F;'NQ))_,F@"6BBB@`HHHH`****`"BBB@`HH MHH`*2EI*`"BBB@`HHHH`****`"BBB@`HHHH`P=?0BYCD[$8JG`=I"^];NK6Y MN+-@H^9/F%?2HKB!77CJ#0!.H_=@^U59!A MR?6K*,!%M;C%5I&&E`$4C<<]:J2G)/I4CD-GM4#M@'H<4`1OU-593@]* MG8U!,.5`R?6NNH`****`"BBB@`HHHH`****`"BBB@`HHHH`*QO$=L9(( M[E!S"?F/^R?\BMFF31+-"\3C*N"#0!QP.<'UJ"Y!8(@'WFQ4[*8I'B;[T9*G M\*52"0:`$>9(0%8CCCFHC?QD[5.XCLHS4+6!O+K,K'RE.=H[U?\`+\OE%`^@ MH`I[IRXD2`@8/)XK/NH9GRSS*GLHS6E.SR,1@X]!59[5I%^=2![T`8,D)+$> M8S#\JT]#LEAG\PY&1CFIVLT&,$8%/RL8P.M`%K5F'EG;TQ7.2G+UJW5R&AVG MDBL@\M0`'I4,IXJ5L]JADY.*`.W^'KL;.[0]`ZD?B#_A77US/@2V,6CO,W_+ M9^/H./\`&NFH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`%JI<:C:VTA M260[A][:C,$_WB`0OXXJW69I4BPP72W,BK+'<2M*6.,`L2I/MMV_E0!>BN(I MWE2)PS1,%?'8D!A^A!_&I:YBY)A/B#4(II0]LZR1A9"$)$"'D#AL].<^U2W- MY(EW'>6^X1-=K;$O=-SF0(P\K&W'4@YS^%`&_'(LJ;DSC)'((Y!P>OTI],'KQGZ4`=$)XB ML3%MGFG"!QM+'!.,'G.`>/:B*>*9Y5C?4_5@IZ4`= M-5&[U:TLYUAG%P'8[5V6TKACC.`54@G`/3T-94=Y>RW+2I;77F+=^42TR"$1 MA]N-I?.=O.=N2<8XK0U?_C\TC_K\_P#:,E`&A&XEC610P##(#*5/X@\C\:?7 M.73736WB&>.YN#);ET@17("?N4.0!WR?P[58U*YDDU6*WMKQ8M]F[X+X4GS( MPN?3(+`'WXH`V'D2,H'=5+MM4$XW'!.!ZG`)_"GUS-S%%=/I\+&[4P7YCD!N M7)4F%CPX.3_#SG/)'7D\]K,8+E#,SK<--/&8P`&.%4.2""`.@.,YJ[I!>*;R;B626=X_,, M@F+QRC.-P!^YVX''/&<9H`UJ2EI*`"BBB@`HHHH`****`"BBB@`HHHH`#TKE M=4MS:7K`#$;\K7554U*R%[:F,$!QRI/8T`<=<.693Z4V20R*%!I)]\4ICD&& M4X(IB,%89^M`%Z&)404KC:"!UI/-5D!.`Q%`#XT.S)Y^M->0(#3'N@HP? MTJM)(7)P:`)9Y<*,'KZU5DD]#23$@=:J,U`$C.?PJ//4FFEO6D+#O0`CCO5C M3+8SWGFL/DBY]LU71&FE6*,99N!720VZV=JL>X84$LWK[T`2:;KQL]7CT^Y( M\F8#8W]UB3Q]#775XYJ5V;B_:9M,S2,W84=*``G'-0L>*D8YXIUO`UQ,$7O^E`'HW@]@?#EL`X\/VNZVB2:(8WHV1QTR#70Z!XJL-B@"-H(F616B0B7_`%@*CY^,<^O`Q3#9VK3F=K:$S'&9#&-QP_)_,U)10!!+:6TZ,DUO# M(KL'970$,PQR??@?E3H[>&(@QPQH1D`JH&,G)_,\U+10`Q8XU0HJ*%.25`X. M>3^>:8EK;QPB&.")(@=P14`7.:FHH`CG@AN8FBN(DEC;JCJ&!_`T>1# MM9?*CPS!B-HY(Q@_48'Y"I**`(3:VYN1W9V@@CB,ARY1`NX^IQUJ:B@`I*6DH`****` M"BBB@`HHHH`****`"BBB@`HHHH`Q/$&E_:4^U0K^]0?,!_$*Y&Z;+Y7Y0>@K MTD\BN$\2V)M+YM@`23YT'\Q^=`&0OG`D"3%.W7`'WP:B5ST-2A\+C%`"1[]_ MSMG\:G,H'`JKD@T%LC-`$KON)%5R#FE!.-_K,=E]*U]4U&/3[8R-R[<(OJ:X2XFDN)F>4[G8Y)H`@`W-GM5[3+ MZ33K^*ZA)W(>1G[P[BJH`4<8H'N/UH`]+M/%^DW+*C2O"QP!YB\9^H_K6Z"& M`(.0>XKQ5R-V.>*U](\27VE$)'*9(,\Q/R/P]*`/5**YS3_&>FW9"S[[9S_? M&5_,5T*.DB!XV5E/1E.0:`'4444`%%%%`!1110`4444`%%%%`!2,H=2K`$$8 M(/>EHH`X'7K-]/U-TA.(W^=!Z`]JHBXN57G!KJ?&%H7MX;I>L9VM]#_]>N3# MD?*:`([A[IU!*A1ZAJI$L3\Q)-:OE^9&?SZUF2X3=B@"(?>X-/8[1[TR/K[U M*5P,GJ:`(NII5]B#+']*`!5:1PJ#+'M6[I]H+:++?ZQNO^%-L; M$0)D@%CU-7<'%`%>\VF!PPR""*XH%X+@&)V5HVRK*<$>XKJM5GV0D9Y-RNH[BVD,H;>X;Y=_\`RS8_7M^-`'6T4@(-+0`4444`%%%%`!1110`4444` M%%%%`"T444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M)2TE`!1110`4444`%%%%`!1110`4444`%%%%`!6+XIM?/TPS`9:`[OP[U:U+ M6K#2TS=3JK'H@Y8_A7/P^(9-"M`"Y)IW(&*B#@'BIH(I)Y5CC0N['@`9H`C8XK1TS0[J_( MD93';Y^^>"?H*W-*\-1Q`2WP$DN%`''!I#N)QF@!N=Q[@4I*@9YXI>1W%13L0F/6@"'<6)/O3MQ]::.E M&,T`2J_K6CIVN7VFL/LMPZJ#DH>5/X5E49]*`/2M'\9V=T@2_(MYLXS@[#^/ M:NFC=)4#QL&4\@@Y!KQ#>W:M'3=?U'3&`MKA@G]QN5_*@#V"BN2TGQS:3J$U M$?9Y?[ZC*'^HKJ(+B&YC$D$J2(>C*I`^O:O/#$0Q5QAU."/0UW>M:I#H^FRW"U$ M<>^3K3&&E6KG)81#\:FM-*N=1(6)=D(/S2$IK9L-*AM(@D:8]3W-7_`"54=*`,![?;QBJTR;16S+X^:K%K=7% ME<)<6LK12J>&4T`>XT5Q.C^/X'C6/5HFBD'!EC&5/U'45V%K=V][");69)HS MT9#F@":BBB@`HHHH`****`"BBB@!:***`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"DI:2@`HHHH`****`"BBB@`HHHH`**1V5%+.0JC MJ2<"N5UOQE#:L\-@HED'!D/W1]/6@#HKV_M=/B\R[F2)>V[O]*XC6_&\TKM# MI@\N/H)"/F/^%0NY[GM]*GL+']XNX$MWST%`"Q6\DY:[OG8C MJF@''%M>@:/I,.F19&'G8?,Y_D*9X>T^TL=,C^QGS%E` M9I#U8_Y[5JXH`0=:&IP%)(0JECP!UH`R=;U"/3K-I6/SGA!ZFO-Y)6GF>60D MNYR36IXGU+^T-0*J?WE>)Y-3V=]ZF@#VZBN`TKX@2(-FJ0>8.TD(`/XCI78:5K%EJT`ELY@WJAX9?J*`+ M]%%17-S!:PM+<2I%&O)9S@"@"6LO5_$.FZ.,7=P!+C(B498_AV_&N2UWX@,Q M>#1TVC.#/(,Y_P!T?XUP\LTD\K2RNSNQRS,PHR"*%6VQ1@ MYZG&3[UWWV**6P%HW"JH4'T(Z&O-O#T(GUJW4]%;>?PYKTZ%QC)-`',7-I+; M2[)%((Z'U]ZCW;#D]JU]4URP8F!4:=@>2O`'N#WK*M9;.6Y4W*S>3G)"CM]: M`+FB:0U](;FY#+`?N^LG_P!:NKB@6-%2-`J*,!1T`J2W\IH$,&/+VC;CIBI, M"@!%7`I'Z4^F.<"@#/NADD572-8T:20@*!DD]A5MUWO[5@^,KW[)I@M8R/,N M.#ST7O0!Q.K79OM1GN/X6;">RCI5`DGBI&I``:`$5:=C(IP`]Z44`1X_>8]J M<5H'^N`]J?C(H`BVX-6+*^NM/G\ZSF>&3U4]:8132,9H`[32_B`ZE(]3MPRX MP98N#]2M=;IVNZ;J9`L[M'?^X?E;\CS7CI%`RI#*2".A!H`]SHKS+1O&U_8! M(KL"Z@48&>'`^O?\:[?2?$FFZL@\B<)+WBD(5O\`Z_X4`:U%%%`!1110`M%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!24M)0`444 M4`%%%%`!115>]O;>Q@::YD"(/7J?8#N:`+%9.K>(+33`R%O,F'\"GI]3VK&U M?Q,]Q$8[(/"A'S.W#?AZ5R%Q*9).23]>]`%[6_$%UJ;[7?9&/^6:]*PV!8Y/ M2I".YIZ*`02,\<#TH`FMH-F&QEST![5=>3[):%SD$]#4=J@8EF;@>M4=6F)D MVG/T]*`*2AKNZ4'N>?I7<^$5'VFYD[!0@_G7)Z7&%@DN".<[5^M=AX:3R;4D M][F$<()(&2WIBO3?#E\6M4 MLKART\*@;V_C_P#KT`;-/U]A6YJMZME;,S'!P:\OO[IKV[ M>=B<$\9]*`*YSG=WIP)Q3?4GI2+[F@!Q8T#K33[4]<^U`#92,@8QWJ.G2',A M]N*;VH`7UI*.U':@!!TH/3FE/04,*`&'I2&G'K3&.*`$-`YI0,\FG@`9H`:% MSFE`XIPZ&D]:`$QQ4MM<36EPDUM(T4J'(9>HJ/M0>U`':+\0WCTX;[/?>#C. M<(??U_"N/U;6+W6;CSKR8M_=0<*OT%1'O4$B[3D=#0`RE%)10!T7A.'$TMR1 MT&P'^=;&N:J%@^Q1-\[@;SZ+Z?C678RIIVFJS]0,X'>>'- M'V0G4;L`DC,:FNQAHJ0_,<"@"$[ M8T+MP`,DGTKS+Q#?_P!IZK+,IQ&OR)GT%=IXMOQ:Z9)&IY.`<'N>@_K^%><4 M`12#TIHJ8U&5QTH`44\8Q48'-28XYXH`CF*;R#P>14A%,Q0!TVB^-K[3E6&Z'VN`<#<< M.H]CW_&NZTGQ%INK@"VG`E/_`"R?Y6'X=_PKQZ@$J<@D$="#TH`]VHKS30/' M%S8JL&HJUS".`X/SJ/QZUZ'8WUOJ%HES:R!XG&01V]C[T`6:***`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"DI:2@`HHHH`****`*FI MZA!I=E)=W+;8T';J3V%>RWCX'RJ#0!'#RHHHCT1=[?6MZ.9;'1FEE.T;,@ M4Y&472''`(-`'D)/&.!0`[GK3DQGDU'QW-'FJ.!R:`&YR,^II3 MTI`.@IW5J`$(Z"@]<4O\7XT8RWXT`'>D;[U.7EJ3^*@!A^]3"-Q]JK%D!O+'D4`:7F[LS2J,9Q&I[>],5Q+=+ M"Q.2#G'KV/%0R3;F.">!P!UI;8$3F7S/+(Y)QG'X4`)YW.?04_(!:;'.,"EM$."Q^\QQ0!.&^S1C:<8Y-7([N-H0[<'&2*S M9U,UPL2]/O,?84ZYN8[.WFNI!\D2[L>OH/SQ0!QOBZ]\_4?('_+'._W<]?RX M%8-/GE>>9Y9#EG8L3[GFF"@!>@I,DW4X."D9P??M0!Y-K=RU_XAN)"VX-,0/H#@5O$? MNP,5REMF2]0GJ7_K77E,L$[T`02*([I-` M';P3M-;6ZD]5W'^G\JPM>O#-I[5@$L26; MEV.2:`#IP*0\#`ZTIX^O\J;T^M`">U!Y!]J.@Q^=**`*X!;[QS[5(J@'`I", M2&G+W-`"CEJ51SGTH0<$TN.#]*`$7J:1>I^E)[TX=#44A_A' M4T`-'S-FI@/DIJ)\HJ3HHH`0]*C/3\:>3D4TCY?QH`3M2=J7'%(>E`"'M1CI MQ0:3-`"[>M'TH!ZT#I0!!*/WC58@^2#=ZU!,/FS[59==D4:^V2*`&C)Q^I-3 MVRJO;=VV\<].:@'N,^O'6ID.W)QTZ_+U'I0!99@Q!?)7H25&6],?G1I#E-=3 M'!WD5&HP*3^=)[4`.`'?I4;H=VY3@U(.F* M1NF>U`"I*''/#=Z<:K(=TV1T`JR:``=:*!WHH`7M1CFC/%'I0`$9)IASFI.V M33'^4>]`$3MU':H*D;[U1T`(>@I*6DH`]ZHHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`*2EI*`"BBB@`K!\:2%/#\JC^-E7]<_P!* MWJYCQU)MTZ!/[TA/Y#_Z]`'G&F)OU.)?]K-=A&I,V<5S&AKG6,_W59JZB-A' M%)*>BC-`&#KTP:XV9'`Z"L=1DT^XE:>X>1NI)IUNN7%`&I9((T+MUQ@4W49- MD&WH2*L1X("CI6=JK9GV@YQ0!2Q^Z/J2!6[:D06N6Z*-S5DP1[Y$4]`=QJ]? M2;+-4'64\_04`4H( MSFX#>AS0!JWTNV*"V!XC&YA_M'_`8_.JG*\G\*4#]*Q)Y["F(=W)[4`+C'!ZTA&6Q^=*>/J:&.Q<]Z`&O]\^PI5^[FFJ"1[FI@ MN%`H`;_!^-)_"E+=JGD;9%FHH MUPHH`D["E/04GI2GH*`$[4P]*>>E,/3\:`#M36YQ3^H--H`;C)I,JC/7_.:`)E;"`#^'E`&Z\<_SJ_X37-Y MRSDF[N^/R%`'16XR7/N`*OC"J,]`,FJ=J-L M:Y[G-27LOE6K'UXH`Q=@!>WUH'(I">`*%-``#\V*>*B8XD-.#8!H`<3T'IS4BEOS/_UJ[.N`\;<.WJU;-P M?)LL=,BL:$;B6]Z`+%LOS''4G%)?L&NBH/$8"BIK7"$N>B`L:H$[V+MU/-`" MKQQQ2'KG-+U'--)XH`;(W:BW3(SZTQADX'>K2#"A10`OWL`4$X&!TI2=JX`Y MIA],AI&/-`$-P M3\B_C3D&`*8QW2Y].*E`&!0`4$?**/2CL*`$/2FGI^-./2FXX%`!VIIIW:FG MK0`W^*@=30?O4#[U`!GBE[TG:C/-`"5)G*7MQ@,I"]/3W-,ZTK'F@#-`"CBBBE''-`"'K2KR<44V5O+3/>@"&X?+E1T% M);KN?)[5%G-6K8`*?4T`3*,9^E(>!1ZT'IUH`3/2CO2-P:53TH`:YS35;=Q3 M6:EMN7+4`6",*!4+]*E=N*@YNI2> M"0*DTYC'ILCCJ20/Q-52=ENP'5FZT`5F;J/>M#2X@SC)]ZS4&X_C70:7%C)H M`KZV^P!!Z8K.B&V$GWJ;5)?/NVYZ'%1@?(BCJ30`^1]EICNY_056'3-27!S( M%'11BF"@!#R.*86IQ-1]6QWH`DB7@M[X%6%&T`]^WM3(U`Y(X%//S$D]*`&D M]Z:QQSW-./)+=A33_>)^E`"$8&.YZTC-L7-*.YJ%R7;/;M0`8).3U-3JN/PJ M/'-3CO0!(W!Q44II[GGK4,IYQ0`QCDTHZTWJV*D`R:`'MUQ3'/S&G-R_XU"[ M84F@!D?/YU..@JM&?EJ<-D"@!QZ4'[HI.PI3T%`#>U!^[1GBE["@!IZ"F,>: M>W3BF'H*`&GK3LE&:04`+ZB@\8'Y4M-?..*``']>_I4B#. M..O(!'0U$H/]1QWIZL.A'!^O7_(H`?(1A<#ACDGGK76::VZ"-O1<6]G)(3T&*XR20R.TAZLEH``*#1T'N:*`%&,$GM5.9][D]JM&*>=9!;Q/)Y:[GVC.T>M5H8F ME=0JEF)P`!DF@!$3N:F3AA5N_P!+O=.6,W=N\(D&5W=ZI*<$]4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%)2TE`!1110`C'"D^E>1ZU+ON)23R22: M];D_U;?2O&M38M<,HZDX%`%JVRND1@_Q$MCUYJH^6C8`\`\U>U$K!#'"G`1` M*HVR&:%_8Y-`!9Q;G'UK?#"WLF;V)-9EA$/,4+ZU;UF40V@C4\L.:`,)29)" MQ[M5CHY8]%%1VRY4GWI)FPA`ZL:`(\EF)/.>]+G%(.!T%!/IB@!K'!IT*9.> MYZ4PC)Q5A!M4`=:`'XR0HH/)P/PHZ#'KUI"<#'!CN:3 M#95$4L['"J.2QH`BE;G:/QH5"S84$GV%=YH7A:"UM]^H1)-GUJY MIWAJTTV[EN(P9-QP@?G8O<4`>=*I:4!>23@`6T,]Q'*C##(%+`T`<0NCZC-:&[CM M)&@Y.\#MZXZXK-D/S&O0W\7Z7$HC@25D48`6,``>G6N*UB:VO;]Y[2%K='Y* M<=?;TH`SUYD_&I%^]^-(B@'OS2J/F'UH`"*IQGO4(/O3U:@!['+#U M/%=18'$48_NBN7C&Z91ZFNDMY5C0,W0#K')I1Q0`M*/>@4I':@!IZTC'`XY)IQK9\*:0=2U)9)%S#&2:TAI5EI5Z]Y!:QKYK9+@?ZL^WH*V"`H^48J.1D=620`@ MC!!H`H:KID6MZ=]GF)&&#HW<$'^HR*CU/0+'5;(0F%8)%7$;JN"GM[BK4#-# M)Y3?=_@/M5[;_$._6@#QVYMIK&[FL[@8EA;:??W'M2#M7:>/M+1H8M43`D0B M.3_:!Z'\#7&=C]*`*TIXJO4DK9J.@":V&7+>E6`-SBF6ZXB^M2CY:`&/\O%, M!_G1(>:1>AH`C?DTQAP*D/6HVH`;1124`>]T444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%)2TE`!1110!7OY1!8SRDX"QL?TKR)1Y M^J1@]-^3^%>E^+9_(T*7UD8+_G\J\SL,G4EQV!_E0!)JKYE/O3+)MME-ZDC% M+>@O<$9Z"G6$1DBD0''(S0!H:3#@;V'7FJFN2;[O8#]T=*V+90D7`P`*YR]? MS;Z9NHS0`0_+`QJNYW/]*G<[(,>IJLG/S>M`$G:FMG'/6EZTW&3Q0`Z%>=YZ M#@597CDCDU&B#CL!4G4^E`"'CYC^M-_VCUIWWF]`*:WS'V%`"#C+&I=,O4L] M22[>'S3']Q2V.?6JLSY;8/QI`/GH`Z2?QE?RMB)(H?<#U*! MP:``'I2GH*`/EI,T`/QP*#T%(#P*">`:`$;M3&ZBGDYQ]*:W44`(>U!H/6D/ M6@!?XJ2E/6D[F@`[&F2?=/UI],F^[0!#GGK3P.:93A[T`3VBYFS^%:-S*!:L M!_&0H^E9]E]\FIKMLRK'_<'ZF@!@IPI@]*>!F@!Z\@W'M0!&[?,$R! MGK[5Z#X7N=-T_2U,EY;QN_)#2`'%>;_ZZ;V%3GM0!ZH_B'25ZZA;_P#?8JI< M>(-)8Y748`?8GFO,R.:8XRQH`])/B32#&-]V"1SA$8D?I56X\>0H-MK9/+Q] MZ1MH_+FN&A7Y32XH`U=?\4W>KVRVSPQ11*X;"Y))'3-8)F=@03P:=/PQJ$4` M%)12@9-`%R/B)?I2D\XH'"#%(3@B@"-NM&<`_2FNW&VWMX?7D^Z-W]-D;8O/7 M^M+TYJ!VWO[#I0`$8<$]2*4X\S\:&^_]*;U'UH`/6JDW M^L-6O7Z55E_UAH`FBZ?A3@>/PJ./^E/3H?I0`X>U-IRC&:0#K0`HZ?C01E/Q MI%Z&E[$4`,(XI,T_U^E,(YH`#UIISFE!I3RU`#<\TO!O.:1W\R5Y!T)XHA;RH&;OC'YU$O`Q0!(M2KT^M1 M)R:F7F@!U07,F!L%3%@BY-544RRY/0=:`)(4V)D]3S3V(]:"%'84U@`>@H`- MPR*CR"W4107]%./6DC.%.<=:N*`"FOTIXIC#(-`$ M5%+WI*`/>Z***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*** M*`"DI:2@`HHHH`\Q\=S;];E7LJ@?I63HHS%A'Y5 M%HBYMYP/44`2[,\FK.DX)N.>A7^M0SG9$1WQBG:#DK<$]V']:`&:Z_W%]:SK M48)/H#5K6FS@[587@;S MSSQ442';]?TJ<#)XXXH`0]/(^>@`/W_QIJ]3]*4H'7\*!UH`!U%(/O"E7K2+RPH`!]X4#[X^M"_>%`Y:@!/6JLW^LJT.AJO., M,/I0`J4]3UJ-.@J1>M`#\\'%`YS]*1>:2@!!UIHZT[O3 M>]`!2#@T9YI>]`"#K2"E[T8X-`"#D5%+]X#TJ4=#44@.\GUH`;2]Q24HZT`3 M.V(E7UYI%IKMEL>G%*M`$R=*E''-1+3RVQ23VZ?6@"&XDR=OI4T`"VX/]/EX0TL M:\9%,N#QB@"NW4TVE/6DH`*@",TE*:2@#WNBBB@`HHHH`****`"BBB@`HHHH`*** M*`"BBB@`HHHH`****`"BBB@`I*6DH`****`/'?$Y_P")W=J>HE;^=2:#Q!.2 M>X_E1XRC,?B>]'JP;\P#3]#3_0)3GDOC]!0`7;8C)J;1/E@F_P!X?RJKJ+X8 M1C\:LZ0=MG(3W?\`I0!GZF^^]^@J*[.V#']XT7#;[IC[TR];E%]LT`1)TIX& MYP.U-7VJ>$87=Z]*`)0,#&?K2MP"OYTJC:,]Z3'<_P#ZZ``#'UJK<,6?:#\H MJ:>38./O&JX'K0`H^]BGCE_QIH^]2K]Z@!%ZT#U]JN*5>C'VH`0=:%^]0._TH7KF@`'6A:5>I^E(*`$' M0U#<#A34V<`U#<'*+]:`&Q\H*D'6HHS\OXU+0``X-.7G\J;_`!"G+P?QH`09 MS2*>13AUI,?-0`@.32=_QI.A_&CO0`=Z7O33U_&G=Z`#O1V-'\5&*`&DI-`#X1ELGH*LY_=CZU"@VC%29_=CZT`,)IPZTTT#[U`#P.:AQRWX5,.I^E M1J,E_P`*`)(G(7%139)S2K\I'THDYQB@"$XIM*WWC24`%*.HI*4=10!;XV&H MFJ0?:`%-,/?Z4\]34;4`1GK24IZTE`'O=%%%`!1110`4 M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!24M)0`4444`>7^/80G MB*60]&C0_7C']*KZ#_QX-C_GH?Y"K'Q`F\SQ"R`\11JI^O7^M0^'Q_Q+V/\` MTT/\A0!1O06NFJ[:+Y=EUZL2?RJC.VZZ8^Y-7(VVZ<21U8T`98^:?\:CNCFX M/L`*E@&YL^]0R'=,Q]30`JC)`SUJTB]AT%5X1R6].*M#A0._>@`^]P*&8*I) M/RB@<#IUJO.V]PHX`H`8Y+ON/I3L?-BC'./PI?X_QH`0??I5/?VI%&6-.48! M'M0`)U/TI`.ON*M)T!^M`! MZT#N:.U`Z&@!!T-'8TH'RFD_A-`"=JBN/NK4N0!45P?E%`$PHR:`'9^:E/WJ:3R*4]:`$;J:8W6GMUY[TTX-`"9YI:0C& M/I1@]:`''[U`ZXH[TO\`%0`E)2]C10!6/WB/>BAQ\YI*`'"I$J-:D!VC-``[ M9^7TIT"\[CZ\5$.35A!M"CTH`2G9^0?6FT[^'\:`&FE'WJ0T'K0!(.I^E1Q_ M>?\`"GISUIB\!J`!CS3&D]*&.34=`!2444`%%%+0!:4_)43=:>O*TWO0`G84 M\=*3TIPZ4`#=343=3]*E;O43=30!$:*#10![W1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4E+24`%(Q"J22``,DFEK-\13F#0KMU M^\8]H^IX_K0!Y/K%RUYJ%Q99&;\,\?I6OH0QI#-Z,Q_E6%=C:<5M:22NB M'W9J`*`4M,V>N:NS(([`#W--LX`9&D;U)HNW#6\@'0-@?3%`&=;?=?V.:JJ< ML3ZFK$)Q')]*@@7G?WIJ\`#TI781ISVH`9-(5^4?>- M1;<''X4@RSY/>G]7S[T`)C+?C2*.?PIPZGZ4@[_2@!%'7Z4\=_I2+]T\\4HX M!_"@`'?Z4@_B^E+_``F@=#0`U>I^E*M(,8/TI1T/TH`1>M&/E_&A3S^!H_AH M`.WXT#@'ZT?P_C29^7\:`%_A/UI#TI,_+^-+GB@`(XIDX!4XI_&!2%00"30! M4'6IATJ.4!9,"I!TH`7/%%)2D\4`!!!H).:6E/6@!A8]Z0G..*<1S2%0<4`! MZ"C/`I2.E(>@H`6E_BI*.]`!V-'84G8TO:@"N_WS3:<_WS24`*HIS'MZ4BG` MS24`/C&6J4GYZ:@PM(3\U`#QTI0/D_&FKTI_\'XT`--!'-(3BEW!&?YT`[?SK#N_OFMG3B?[&7_?/\Z`'M(J1[1TQ55V M'V:4'.=H-/;O]*KS_?8=MM`%0G$+TZV7$8;N>E1R?ZDU8A^XOTH`E08!;TJ! MW\R0#^$'\ZEF.(1CBHH_OB@!4^]0.Y]J5>I^E(.AH`0<`F@G=A^-(W04`-/`%(6X%#=JC?M0`XOB MD+$\4E2*!NZ4`5Y#ES3\_**9)_K#2_P4`/!I13%Z5(.U``0<4N:7TH[T`(>U M':@]OI2'M0`C9&*3G=3J!]X4`+WI!SFG'K24`&,+3>PI?X?QIIZ4`5VY8_6E MIO>G"@!:4#)I!3DZT`39P*9WI_:F_P#UZ`$4XJ0?=_&HZ>/N_C0`UJ3/-*:8 M>M`#L\BF=A2]Q3>PH`#10:#0`E%%%`!1110!/#P*0FB'^M*:`'1CBGYIJ=#3 5Z`&2GFJYZU/+UJN>M`#:***`/__9 ` end GRAPHIC 40 genericproxycoverfinalx4x1.jpg GRAPHIC begin 644 genericproxycoverfinalx4x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@$ M#P,A`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****` M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**QX=9G8" M:6TC2U:X:W5EF+/D2%,E=H&,C/4X%2WFN6=KI_VL,\JM;FYC5$;+H-O/3C[R M]?7V-`&G16>VLV*N$=Y4;:KD-!(-JDD`ME?E&5/7'ZU/]NM_M1MRSK)SC=&P M4\9P&(P3CL#0!9HK,37],DC$BW#;"H?<8G`"D9#'CA?]H\=>:EO=2CLKE(YA MB(P2SO)_<$>W/`'/WOTH`O453AU2SF;:DC;MP7#1LIR%Y`W#D<=Z`-6BJ<.JV4\X M=Y&:?R@'(=BV,]>`<=>U4QX>9H!;S7FZ!+)[.,+%M8(VW!)R2ZBOQ/=*9+RU6W9DBP%(W_`#`;C_?Z9[=:8NA$:BETT\;;)GD# M&']Z0RN-I?/(&_@8&`,>]&G^(;:_O$AC>W99L^5Y=P'DX&?G3'R\#U/OBJME M?7LUU(4N+J5UO)(VB:W`A6)9"N0^P/-`%E-!VV,MM]ISYFG)8[O+Z;0 MPW8S_M=/;K4^I:3]O&//\O\`T2:V^[G_`%@4;NO;;T]ZC367,44YM"8;E"UK MY;[GEPA<`K@;20#CD_A43ZM?2-IWV>&U)GG>.5?/;`PC,!G9D'C/('0#OD`% MJYTD7$MQ(9MK2P1Q*=N3&R,S*_N']_DM#=RQND0BD;=(/,`).<( MZ\DDG/(YZ5;GDGN-2>SBG>V6*)92Z*I+EBP`^8$8&TYX[CI6<-1U.YN["&!8 M@&\XRDOL\SRW"=T;"G.>.>>HQR`7HM)\F\BDCF5((XPFQ(\,P"[0&;/('7IG M('/:FV.D/:FUWW(D%M;-;)B/;E24P3R>0$_'/:LW3=:NX[>TFU!C(UU`9D5& M4K\S1*JXV`CE_4XSR3VT+S67L(XEO([2"YE+;%DNML9`QD[RN>XXV_XT`1CP MZAM1`]RQVVL%N&4%2#$Q8-D'/)(X]NM2V&BBSNHKDS[Y%602'YCO+;.SWNEP7.G;BLCXD,15G"C()3=\IY`_#/M3(-3#\Z]!SG/2@!;/17LUB5+E&5;-+60/%G<%W8(YX^\<@YS5O3+-[*W M:.282$MN&U2JH,`84$D@<9ZGDGZ5G1>(B]GJ$[6>TV432%/,SNP\BXSCC_5^ M_7VYL'6`NIBU,0:-F9$E0L?F"EB#\NW^$]&)]J`-6BL'_A)`ME:3SPV]L]W' MYL2S7(0%,*3EB,9RW`[]>.<;-K<)=VL5Q%G9*@=*V1DA7:K.TA&2YX.>U6&U2Y4FXVQ_9_M!M_)V'S<[]N[.<8_BQC MISF@"['IEI'([K&V7!&#(Q50>NT$X7\,4U=)LUB6,1O\LGFAS*Y??C&=^=QX MXZ]..E5-)U.ZN#:?;/(Q=V?VI?+4KLQLR#DG/W_:H[RXOH?$$SVPDN(HK2(M M:JP&[<\@W#/`(P/PS[4`:MS90715I5;N:O6 M5_.^A7#HDDMW:HZ!9%*M(RC*D@@$%AM/3O0!<32[)(XHQ`-L,)@0$DX0XXZ_ M[*\]>*;_`&5:>0(L38!W!_/D\P'_`']V[]:I8\J2T^SWTSB[1O-D:7=M783Y M@!R%P<#@8^;I5:Y$T=H]Q!@[UG>;-G[9YLO MVK[;]G\CS#LV>9MQMZ9V?/G&??%$]96F_:(+W48 M[2VB>(WW[PO*4*#RHN0-ISU/<53LV)UY5"()?M,VZ0-^_9!F@#?&GV0MA;"TMQ;@[A$(UV`YSG&,=:?\`9+;[3]I^SQ?:"NWS=@WX],]< M5S<6_P`B'^SO+_MGRG^V_P![=Y;8W_\`;3;C/;IQ5JW-N+FV;14B>8!OM*[B MI(V'`D."0V[;U&>M`&O+86DL'D/;Q^7Y1A"A0,(<948Z#@<>PJ81H)3*$42, M`I;')`S@9].3^9KGM9GLY%2#47M+;498SM+7`Q;C)_>*6Q\WI@9SQT&:?>S: M8^LI$ES`EZLB,\KRC>.F(U!.?FP,@<%93*L,8D))+A1DD@`\_11 M^0]*>$179PJAFQN(')QTS7,Z&HLOW&G1:=>S+!AIX4\D@J5&V5OF.XY)Z9R# MQWJ;6(#/>Q"7;;RSZ=PH`V186:B8"T@`G_P!:!&/WG^]Q MS^--@TRPMU98+&VB5RK,$B502IRI.!V/(]*YIWMTL]D$&G26PG0O+;H(;64% M7RLA^;`&!SSR5'K5BUVNNCO\K,E^ZJZ-N3:8Y&`1NZ@$#/\`LT`=%]EM_M7V MGR(OM&W;YNP;\>F>N*5+:".=YTAC6:08>14`9OJ>]2T4`%%%%`!1110`4444 M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110` M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%% M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%9O]I/_:WV?RU^ MS9\GS.<^;C=CTQM[^IQ45[K#1LBVT#NAN8X&G(!CR9`K+USD9/.,9%`&O16% M>>(1`8)DMY3:,78S$*1*BQ.^4^;_`&1U`S5TZJNU-EI.&+S7E4`KC;N&!G<>#U`QVSGBI8]2B;3_MDD;PID M`*Q5B23@8VD@Y)&,'O0!=HJB=1V6ZO+:W$O:HEUJ% M[F*V6WN#3,+?`,.,H=J,.'^]]T\X_BXZ4`;%%1P31W$$< MT+!XY%#*PZ$'D&I*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`S#H. MGE2WV=/M!;?]IV+YN[.=V['7/^'2EET:*24$7$Z1>:DOM?F72$N+:!%FFT]K MQ=[\)C9QTY^_[=/?@`L3^';>>(0O8BA-QC1\KZ?.I]3TP:BN-9N;5[@36<6+6%)YV6W^,G]L@:D+4Q!HW9D25"Q!90Q(/RA?X6'#$Y'2@"4Z5$;F.433*(DVQQ MKM"I\NW(XST/3..^,TL.E01V(IW MM&N&T]55+5+QP)\D1,">/EY;Y6XX'3GM5G5M3DL+E)$^>%;*XN&CZ;RFPCG' M'4_G0!9.G![=4ENKB25'WI.VW>C8(R,+MZ$CIWHMM*AMKI;H/(\X1U=V(S(6 M*Y8X`Y^11Q@8[5`-7D29HKFU$;+Y;,4DW@)(64-T'(*\CH`U6&T:*49N+BXG<,I1W*Y0*ZOM&`."5 M&V\J:-2ZI++% M*0I`P8]FT#CI^['ZTTZ+;O;26LDDLEHRA5MVV[(P"",<9Z@=2:@M-6GN))8+ M>`3S12R>8)90FU!*Z#!"\GY#@>W)[D'B&V.H_9@]N5\WR,?:!YN_./\`5XZ9 M[Y_#'-`%K3-)MM,BDC@4'S/OMY:(3^"*H_2HHM%C@BC2"[N8S&@B#*4W&,?= M0_+T&3@]>>M3:7?O?)(985@=3_J]Y+*/]H$#!_,>A-7J`(X(8[>".&%0D<:A M54=`!P!4E%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`16]O%;1>7 M"NU-S/C)/+,6/ZDU431=/C+;;?(:)H=K.S*$;&5`)P!P.!65I:WEP_FQK>!Q M=R[YY;G="R"5@5";S@[1@?*,8_.\0M]J-W'/>O-"Z59K<"<1MO#F0#S&VJQ!! M(7.!G<Q+!7XS(@8A7X]1@\>M8=A<3QW,-S)]M6-KV M:*6:2??%("[JB*FXX.[8,[1T]#0!NC2K)8'@$/[M[=;5AN;F(`@+U_VCSUYI M]SI]K=C$\6_]T\/WB/D?&X<>N!6?!J=W*EM*3`$O4)B78'=R.,'&, M$XIT>IR7.BWMX2MKY<;[<@L8R%SN8=QW`QTQZX`!?EL+68S&2(-YT0ADR3\R M#.!_X\?SIDFF6CI$HC:,0J$3RI&CPHZ+\I&1['BLJQD9S/;W2W<$022<'CVJ0:?;K\2\*L+QB',:_(<&(-\I.[;C;VZT`;Y2)94 MU0QZ;817)N8K*V21SV-66^V?:CC[5]M\X_W_(\C?\`]\9V?\"S[4`:XL;0/,XM8`\XQ*WE MC,@_VO7\:>#!]H=!Y?G%0748W%>0">^.OZUAZ:]QI\-I/=M=M&VGF6Z,I=RL MB[.,'H<%N!UQ4MY87,^OS7-JWD3):Q+%.R%D^_)N4],\8./7!H`OQ6VFQ1W* MPP6B1Y(N`B*!G&3N_`@\^M/^P6$MHD'V2V>V'*Q^6I3Z@=*PX[&Y@COK&UMV M83WN\M*2JN@CC+$MM/WCD=.EEO+:%XTFN(8VE_U8=P"_P!/ M6N>CMW@ECFCEO%@>)@ICLB6\UI&9\HRDJIR.PX`YI674HI9I91(MU-'&8H8H M`\1(091FP=J[LGJ.O>@#I7=8T+R,%11DLQP`*KOJ5C';)]`&N-0LBL3"\MRLQQ$1*N)/\`=YY_"D;4K!+K[*U[ M;+<9"^495#Y/08SFN2S:\C0X'RC;UY_VQTST/MD`V:*RY=;CA>19K.Y0Q1K+, M3L(B5BPR2&_V3TS_`#Q(=8MEU(V#@K+SM.Y#NX)Z!MPX!Z@#B@"_UI:QH_$= MO);^?]DNUC$*W#$JORQ,"0Y^;IP>!D\=*OW=ZMNR(D4EQ-("R11;=Q`QD_,0 M,#([]Z`+5%9\NKPQ,V89C%%CSY<`+!D`_-DYZ$'@''>HO[6ZSQY"DD$-U4@D$'W!!%3T`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%` M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%1SF41-Y`0R< M8WDX'/7BL6;5;Y+<8$;$71@-Q';22H5"%BP13G[WR]3SF@#>HK(NKR[32EO+ M>\M&PISFV8^8VM7=-FO9;JZ M2YDMY8H2J*\4+1Y;&6'+-D#(Y'?/I0!HT5C7&KRQ:J;4-`")41;=O];*K8S( MO/09;L?NGD5-J&H/;RMY7*P[0P[,[D*BY[,-ZF@#0 MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`,BQT4Q)BZN'D03R3"` M$&/)D9U/3.1D<9QD?C2KX?M0AC>:XDA^S/:I&S#"1MMX&!GC:.22:UJ*`,Z3 M1XIHKI)IYY&NK=;>1R5!*C=R,`#/SGMZ4B:-"EPLHGGV),\R197:K.&#=LG. M\GD_3CBM*B@#,70[9;22W#S;)+);(G(SL4,`>G7YC[=.*EFTX2MYBW,\4JY" M2)MW(I"Y494C!V@\@\U>HH`SY=(AD9@9IA%)CSXL@K/@`?-D9Z`#@C/>G)I< M">3AI/W5R]RN2.6??D'CI\Y_2KU%`$%G:I9P&&(L5+O)\QYRS%C^I-3T44`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`07EN; MNU>`3RP;Q@O$0&'TR#5>/37CM%@34+I2A^1U$:E1C&W`3;CZ@U?HH`IQZ=!' M'"BE]L4AEY/WW.22WKR2?K22Z>LUR)9+B=HPRN("04W`Y!Z9X(!QG'M5VB@" MI%8B.X\Y[B>8KGRQ(1B//7&`,_4Y-26ELEG;+#&2P7)+-C+$G))QW))/XU/1 M0!GRZ3!+=-,7E"O(DSQ`C:[KMVL>,\;5X!`XZ5*EBAM)()CYAE):1AP2Q[CT MQQCTP*MT4`4H].VAV:ZN))F7:)F*AE&1\;G M;U.`!V'0=JGHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH @H`****`"BBB@`HHHH`****`"BBB@`HHHH`****`/_]D_ ` end GRAPHIC 41 singlesballotx1x1.jpg GRAPHIC begin 644 singlesballotx1x1.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` MF0##`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`I*;(ZQ1M(YVH@+,3V`KS35_$>I>);_`/L[2@R02$JB*=K2 MC'\1)Z8!XH`]"FU73H&VS:A:QMZ/,H/ZFI+>^M+K_CVNH)O^N<@;^5>70^!] M>DDVO:I$,?>>52/T)--3P=XBA82I9E&3Y@RSID'V^:@#UJEKAO!WC"2ZFCTW M4V+RL<13=V]F]_>NXH`6BN.O_'\-E?W%JVGR.8)&C+"0#.#C/2HHOB/:%P); M"=5[E7#'\N*`.VHJAI&KV>LVIGLI"R@X96&&4^XJ_0`4456U"]BTZQENYPQC MB&YMHR:`+-%8.C^+-.UF]%I:K.)"I;YT`&!^-;U`!1110`4444`%%%%`!111 M0`4444`%%%%`'->/[M[7PTZQL5,\BQ$CTY)_E7%>$KB'37N=2N`"D9CA&1_? M;YO_`!U6KL/B+`TOAL.HXAG5S],%?_9JY;2[CPU+H$=EJ,MU!*)3+(4&=S8P M,'!XQ_,T`,T.R+>+)=/NB\DJ:3`UMI%G`PPT4"(?J%`H`\@\ M0_\`(PZE_P!?,G_H1KK?$/A'2K+P_)>V[2131HK#<^0Q../UKDO$/_(PZE_U M\R?^A&M5]#\6:E$D4Z7,D0P0)9QM'O@F@`\`W4T&N2)%]V2!]P[#`R#^?\ZN M:'XPUF\UJSMIYT:*6558")1D$UN^&/"S:':W-S=NKWZ-;6KV,BHTCL&RH;(`]ZR;;6+S6?!&L2 MWTBNZ':I"A>.#VI?B7=0206$4 MZ=>B?3\^?M*\)NX/7BNV\1>(]5T[2-&GAE5)KJ$M-NC')`7L>G4UA?#YU3Q, MFY@N8G`R>IXK6^*!##2RI!!\W!'_``"@#,/CS6#8^4K)]HWDM-Y8X7`P`.G7 M/)J?0?'.H)J$4>J2K/;2-M9MBJ4SWX`K8^&]K`VAW4K1(SR3&-R1G*A5X^G) MK@]4B2#6KR*)0L<=PZJH[`,0!0!Z)XQUC6=,N+6/3$1DG4@8C+ON'7]".WK7 M,W'B?Q98[7O/-A5CQYUJ%!]N@K3\6^,;VTU*2PTTI%Y.`\I4,Q..0,\8JIK= MOXI.@2RZM-#):D*S(P7>AR,$8'7G'7N:`.A\.>*7UG3;OS$2*\MHRQV]&X." M!]17)VWCS68YT>>2.6,=4\M5W?CBD\"$_;]1&>/L$G\UK-\,1)-XCL(Y4#H9 M1E6&0:`+TGC?7FGWBY2,=?+$2[?U&?UJY>_$#4YX(DM(X[=PG[U]NXEO4`\` M?G5OXGQHMQI\@4!V1U)QU`*X_F:T?AQ;0'0KB5HD,DDS(S$"9PA)0*5SP#D`5Z17B4:+'KBH@PJW(`'H-U>VT`+1110!# M=VT=Y:RVTR[HY4*,/8UX_KV@7FAW12="T!;$HX&><5F^(M8L=8E$]OIOV6X M9LR2"3=O_#`&?>N\N_`FBW,A=$FM\\D0OQ^1!JSIOA'1]-;>EMY\G9Y_G(^@ MZ?I0!R'@OPM->7,.I7BF.UC8/&K#F4]C],X^M>ET`8&!10!YGK'@[6KK6+VX MAMD,O2H5*PHIZA0#6%X4NKBZ;5OM$SR>5?2(FXYVJ.@'M61 M?:]>Z9XNU%W,LVFPB-9$!SY6Y!A@/K_.@#MB`00>0:\OU?P+J=O=O_9\0N;= MF)3#@,H[`YQ^E=CX4EN-0\)Q//<2--*)%\TMEA\Q`.?:L2SU6_OGT_0VGG2^ MAN7%Y(K')1/]KT.=CS&'`V#'!3_"@G\JY:XN;V M8EE`6[*Y7KR,$]<_I0!PL_@C78IVC2T650>)$D4`_F0:Z+Q)X:U.^TG1;:UB M222TA*2_.``<(.,]>AI?%-UJ4.LR.;NY@L8D4J;-@Q0]RZ9&>?TKJ)(VU+1D M6WO)8C-&K+<*,-V.<>_]:`,WP5I5WI&CR6][&$D:=G`#!N"%';Z&N2U/P=K5 MQJ]W<16R&.2=W4^:HR"Q([UT'A"&^N+FZN+G5;F9+6XDM_*+O!]]=:G+?Z:BS+,07CW!64XY/ M/!%0R^'_`!7J>E"&^F`C@`\J!F7+GIR1Z#/4UM^$;[4;O5M4&HNX($4B0ELB M,."P`]."*I^);J]_X2C[+!=WT<0M@^RU89SN(S@D"@"#PIX8U73+R\DNX%19 M;1XEQ(IRQ(P.#[54\/\`A'6;'7+2ZN+=%BBDW,1(IP/SKN;??'H*DRR/(+?. M^0_/G;WQWK@+7Q'JO]F6EO/+.&EN5>*XW'+IDAE)^N*`.A\=:%J&LO9&PB60 M1!]^7"XSMQU^AJ]X+TN[TC1GM[V,)*9F<`,&X('I]*M^(K:>XTN1K:]FM'A# M2[HNK84\'VJCX,CNY-*2_N]0GN37Y\AED^8GF0Z796^HS:A%`%NIQM MDDW'D<=LX'05^A\V(,'"[BO(^A'K46EZ+I^C^;_9]OY/F MXW_.S9QG'4GU-:%%`&3?^&M'U*Z-S=V2O,>K!V7/UP1FM1$6-%1%"JHP`.PI MU%`%6RL+6P$PM8O+$TAE?YBIY-*]C;/?QWS1YN8T,:ON/"GJ,=*LT4`5H M;&V@O;B\BCVSW&T2ON)W;1@<=!QZ53U+PYI6JW(N+ZU\V4*%W>8Z\#Z$>M:M M%`%>"SM[:R6SACVP*FP)DG`],]:I_P#"/:5]B@L_L@\B"3S(UWM\K>NKEC>P:A:K<6S;HVR.1@@CJ".QK#2>[@\3ZM]CLQ=$I#G M,H3;\IQUJE+I4T=WI5O54?[.,8]C4^BW7]MZI_:'(BM[=8@O82 M,,O^7`H`Z*BL[Q!+?.5."O4#/)'N!FL^P.B66ZXL;DS2BW9V1)R[ M2`>]H`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`&+%&LCR+&H=\;F`Y;'3)[T-%&\B2-&K.F=K$9*YZX/:GT4`13V\-PNV> M&.5?1U##]:/L\/[O]S'^[^Y\H^7Z>E2T4`5Y[8LLK6S);W$F,S",,>/7UJ+2 MM.33+/R$GT4`0-96K%RUM"?,^_F,?- M]?6IZ**`"BBB@`HHHH`****`"BBB@`HIDL@B7\_U0_WJI5=O/\`5#_>JE0`45FZIJ,EE(`HC51&TF9,_.1_ M"/>F#57^W",B,(TBH$.=Y!&=_P!,\=/QJU!M7"YJT5F:?J;W-RL,@0,Z,VQ? MO1D'&UO?\JM:ABD8E4)`R0,X'>L:/6 M9F@D;9'(XB$@"9^3)P5;W'4TE%O89M45CG5Y"H57@XE,;3D'R_NY!Z]^G6M& MRN/M=G#/MV^8H;'I0XM:L">BLN;4WBU`P-Y:J)$C"'.]@W\0YZ9XZ?C44>LR ME7S&CR>4\@B7.Y"IQM;W[]J?LY"N;-%4M-O3=F56:.0QE?GB^ZP(SZGW'6DU M&\>U:(+Y:*^[,D@^48&0.HY-+E=[#+U%8QUI]T;[$2-EC8(V=S[C@[3[?YQ6 MS0XN.X$MK_Q\+^/\JT*S[7_CX7\?Y5EZIXEMK?5ULFO/LJ0D-/)Y18L>R#@_ MB?RJ0.DHK#_X3#0?^?[_`,@R?_$UM(P=%=3E6&0:`'4444`%%%%`%>\_U0_W MJI5>NU+1`*"3GL*J>5)_<;\J`*EU:+=##RRJI!5E1L!P>H(_R:0V*-<+*TDI M52&6,M\H(&`1W_#.*N>5)_<;\J/*D_N-^5/F8%2&S2*8RF221\%5,C9V@G)` M_P#KYJ2>+SHBF]X\]&0X(J?RI/[C?E1Y4G]QORHN]P*!TY/*$:SSIRQ=E89< MMUSQC_#MBG-81,Z'?)Y:;<1;ODRO3BKOE2?W&_*CRI/[C?E3YF`SK51-/10^ M9YV=UV"0O\RKUP"/Z\U>\J3^XWY4>5)_<;\J2;0%'[`HC(6>9'9][2*P#,<8 MYXQT]JL00I!"D48PB`*H]JF\J3^XWY4>5)_<;\J&VP*5)_<;\J.9@5;:U6WWG> M\CN06=R,G`P.G%+<6_V@*/-ECQG_`%;8R#V.>*L^5)_<;\J/*D_N-^5%W>X% M%M.B;RUWR")`H$0;Y#MY''^<]ZMT_P`J3^XWY4>5)_<;\J&VP'6O_'POX_RI MUSI_F7T5Y;R^1.GRN=N1(G]TC(_`]J+>-UG4E&`YY(]JO4@"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH ,H`****`"BBB@#__9 ` end GRAPHIC 42 singlesballotx1x2.jpg GRAPHIC begin 644 singlesballotx1x2.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M&P`9`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`SKO7M2N;AI1=SP@X^2.5@H_6FMJ>IB%95U*Z9<[6_?-\I_/_ M`#@UG'K7:6&@V+V$"R6]TXEC#R.`?OX&,>W+4`7,\?/RL1S[44`,/6N^TOQ3IT>C1">0I-#&$,>TDL M0,NUF4?D#4?\`PBNB_P#/E_Y%?_&@#S>:0RS/(1@N DQ;'UI=I]#7I"^%M%5@19#(]9'/\`6M'[':_\^\7_`'P*`/_9 ` end GRAPHIC 43 singlesballotx1x3.jpg GRAPHIC begin 644 singlesballotx1x3.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M&P`8`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`RY];U*69Y!>W"!B3M29@![#FF_VMJF,_;[O'_79O\:U_"-P4 M::"#3A5B4`$9M,`OR.6V_=R#VZ8H`XNVUS M4H;B.0WMQ(%8'8\K%3]>:*TO%MSYMQ#%+IPM+E,EF!!#J>F"!ST-%`%#0M9; M1;B658!-YB[<%MN.<^E7T\4QHZN-.Y4AA^^[Y)_N_P"T:ZJ3PQH\LC.UD-S' M)P[`?D#3?^$5T7_GR_\`(K_XT` GRAPHIC 44 singlesballotx1x4.jpg GRAPHIC begin 644 singlesballotx1x4.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` M'``8`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`?)XXU#S&V6]J%SP&5B0JL#CZYHJ'Q;ID&G2VODHJ-*&+!.%&,8`_.B@"EI6M2Z9')$L2RQN MVXHQ(!/OZCVK6/CBZ8$-90$'@@D\UA:K#'#JEU'&NU%D8`>@S53`H`O:KJTN CJ-%O0(D60B@DXSCC)[<44W1X([C5K6*5=R/(`P]110!__]D_ ` end GRAPHIC 45 singlesballotx1x5.jpg GRAPHIC begin 644 singlesballotx1x5.jpg M_]C_X``02D9)1@`!`0'_____``#_[@`.061O8F4`9``````!_]L`0P`0"PP. M#`H0#@T.$A$0$Q@H&A@6%A@Q(R4=*#HS/3PY,S@W0$A<3D!$5T4W.%!M45=? M8F=H9SY-<7EP9'A<96=C_]L`0P$1$A(8%1@O&AHO8T(X0F-C8V-C8V-C8V-C M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C_\``$0@` MA0$W`P$B``(1`0,1`?_$`!\```$%`0$!`0$!```````````!`@,$!08'"`D* M"__$`+40``(!`P,"!`,%!00$```!?0$"`P`$$042(3%!!A-180'EZ@X2%AH>(B8J2DY25EI>8F9JBHZ2EIJ>H MJ:JRL[2UMK>XN;K"P\3%QL?(R;GZ.GJ\?+S]/7V M]_CY^O_$`!\!``,!`0$!`0$!`0$````````!`@,$!08'"`D*"__$`+41``(! M`@0$`P0'!00$``$"=P`!`@,1!`4A,08205$'87$3(C*!"!1"D:&QP0DC,U+P M%6)RT0H6)#3A)?$7&!D:)BH*#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6V MM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN+CY.7FY^CIZO+S]/7V]_CY^O_:``P# M`0`"$0,1`#\`]`K(?Q%:)KW]CF.?[1D#<%&SE=W7.>GM2^(=7_L6VM[DIOC: M<1R`==I5CQ[\"N/FU"T?Q^M^)T^RY5_,[8\H?YQ0!Z-16%X=UXZY>7^Q-EO! ML$0/WCG=DG\A6[0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1 M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110!6O[&WU&S M>UNDWQN/Q!]1[UYZ_@O4!K(M%YMC\WVG'RA?_BO;^E>ET4`5-,TZVTNS2VM4 MVHO4GJQ]3[U;HHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`RK)K^]A: M87B1CS9$"^3G`5V4[<^T\;20>,9Z@TQ=4M&M)KH MNZ0PC+M)$Z8_`@$_A0`GV?4/^?\`3_OP/\:/L^H?\_Z?]^!_C3[C4K2V6-I9 M<>:-R!5+$CUP`>.1S3/[7LOM?V4/(TH*J0L+L`6`(RP&!P1WH`/L^H?\_P"G M_?@?XT?9]0_Y_P!/^_`_QJ6[O[:R*BXEV%\D`*2<#J>.@YZ]*;)J5I''-(\V M%AD\I_E.=V`<`8R3@CI0`S[/J'_/^G_?@?XT?9]0_P"?]/\`OP/\:>FI6CR6 MZ"8![G=Y0*D%MOWNHX(]#4UO<1747FPMN3ON#0!6^SZA_S_`*?] M^!_C1]GU#_G_`$_[\#_&E.JV(LI+PW"_9XW\MWP MS<%1F/SDA<8'.2#TH`;]GU#_`)_T_P"_`_QH^SZA_P`_Z?\`?@?XU8MKF&[B M\V!PZ9QTP0?0@\@U!:ZK978[;=_+EVQLVPXSS@'C'?I36URP58R9)OWH+ M*!;R$D`X)QMR.HH`?]GU#_G_`$_[\#_&C[/J'_/^G_?@?XU-=7L%G;B>=RL9 M(`(0L23P!@#-5FUS3U6-O.<^86"JL+LV5QG(`R,9'7UH`?\`9]0_Y_T_[\#_ M`!H^SZA_S_I_WX'^-3P7<%Q(T<3$NJ*[*5*D!LXZCV/%0)J]C([HEP&*AFX4 MX8#KM./FQ[9H`/L^H?\`/^G_`'X'^-'V?4/^?]/^_`_QIYU.S!.;A>(/M!Z_ MZO\`O?2K*.)$5UY5AD<8XH`I_9]0_P"?]/\`OP/\:/L^H?\`/^G_`'X'^-7J M*`*/V?4/^?\`3_OP/\:/L^H?\_Z?]^!_C5ZB@"C]GU#_`)_T_P"_`_QH^SZA M_P`_Z?\`?@?XU>HH`H_9]0_Y_P!/^_`_QH^SZA_S_I_WX'^-7J*`*FF327%C M'),0TA+`D#`.&(Z?A13-'_Y!L?\`O/\`^AFB@!FA?\@X_P#7Q/\`^C7K1K$T MW48+.V>"=+E9%GF)`M9&&#(Q'(7!X(JU_;5GZ77_`(!S?_$T`:-%9W]M6?I= M?^`J7A:416<\4 M2/A06DP6R`<_+U].]6?[:L_2Z_\``.;_`.)H_MJS]+K_`,`YO_B:`,W[+?MH M-[IIL)%=A,4D,B;7+.2!UR.#WI\EIJ5W91VQ24`SAY&O6C?Y5&0,1D9!8#]: MO_VU9^EU_P"`**XMYPA"Y M^7(8\KC&0&7@9Z]*K' M3KU9I+GRM[I>F=45@/,4Q!,C/`(.<9]*O?VU9^EU_P"`O%; M']M6?I=?^`,UFVEG?A+>-[0QBTN)9PQD4F7)?:HP>,[^1ZG-(;*9H[J"% M"_F1YC(W9SSSC=VIEK8WC)IMK/;K''8$%I0X(DPA48'7G.3G'XU<_MJS]+K_ M`,`YO_B:/[:L_2Z_\`YO_B:`,,>'[[RE&U,^=]F///V3I^?&<5UG3I6?_;5G MZ77_`(!S?_$T?VU9^EU_X!S?_$T`:-%9W]M6?I=?^`HH`H_V MUI7_`$$[/_O^O^-']M:5_P!!.S_[_K_C5ZB@"C_;6E?]!.S_`._Z_P"-']M: M5_T$[/\`[_K_`(U>HH`H_P!M:5_T$[/_`+_K_C1_;6E?]!.S_P"_Z_XU>HH` MH_VUI7_03L_^_P"O^-']M:5_T$[/_O\`K_C5ZB@"C_;6E?\`03L_^_Z_XT?V MUI7_`$$[/_O^O^-7J*`*/]M:5_T$[/\`[_K_`(T?VUI7_03L_P#O^O\`C5ZB M@"C_`&UI7_03L_\`O^O^-']M:5_T$[/_`+_K_C5ZB@"C_;6E?]!.S_[_`*_X MT?VUI7_03L_^_P"O^-7J*`*/]M:5_P!!.S_[_K_C1_;6E?\`03L_^_Z_XU>H MH`H_VUI7_03L_P#O^O\`C1_;6E?]!.S_`._Z_P"-7J*`*/\`;6E?]!.S_P"_ MZ_XT?VUI7_03L_\`O^O^-7J*`*/]M:5_T$[/_O\`K_C1_;6E?]!.S_[_`*_X MU>HH`H_VUI7_`$$[/_O^O^-']M:5_P!!.S_[_K_C5ZB@"C_;6E?]!.S_`._Z M_P"-']M:5_T$[/\`[_K_`(U>HH`H_P!M:5_T$[/_`+_K_C1_;6E?]!.S_P"_ MZ_XU>HH`H_VUI7_03L_^_P"O^-']M:5_T$[/_O\`K_C5ZB@".":*XB66"5)8 MVZ.C!@?Q%%5='_X\Y/\`KYN/_1ST4`&A_P#("T__`*]H_P#T$5>JCH?_`"`M M/_Z]H_\`T$5>H`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`HZ/_QYR?\` M7SBC1_P#CSD_Z^;C_`-'/10!2T;5]-CT6QCDU"T1UMXPRM,H((49!&:N_ MVUI7_03L_P#O^O\`C6;]6+GQ' M:6TDJM%.PC$F751@E,;@,GJ,T`6O[:TK_H)V?_?]?\:/[:TK_H)V?_?]?\:K MMXALT6$NLJ>;,T&&V@JP;:_7GI0!=_ MMK2O^@G9_P#?]?\`&C^VM*_Z"=G_`-_U_P`:HMXIL4@>9X[A$64Q`LJC$31,#R1G!!]P2/SJ]0!1_MK2O^@G M9_\`?]?\:/[:TK_H)V?_`'_7_&KU%`%'^VM*_P"@G9_]_P!?\:/[:TK_`*"= MG_W_`%_QJ]10!1_MK2O^@G9_]_U_QH_MK2O^@G9_]_U_QJ]10!1_MK2O^@G9 M_P#?]?\`&C^VM*_Z"=G_`-_U_P`:O44`4?[:TK_H)V?_`'_7_&C^VM*_Z"=G M_P!_U_QJ]10!1_MK2O\`H)V?_?\`7_&C^VM*_P"@G9_]_P!?\:O44`4?[:TK M_H)V?_?]?\:/[:TK_H)V?_?]?\:O44`4?[:TK_H)V?\`W_7_`!H_MK2O^@G9 M_P#?]?\`&KU%`%'^VM*_Z"=G_P!_U_QH_MK2O^@G9_\`?]?\:O44`4?[:TK_ M`*"=G_W_`%_QH_MK2O\`H)V?_?\`7_&KU%`%'^VM*_Z"=G_W_7_&C^VM*_Z" M=G_W_7_&KU%`%'^VM*_Z"=G_`-_U_P`:/[:TK_H)V?\`W_7_`!J]10!1_MK2 MO^@G9_\`?]?\:/[:TK_H)V?_`'_7_&KU%`%'^VM*_P"@G9_]_P!?\:/[:TK_ M`*"=G_W_`%_QI=8NY+#2;FZB"M)$A90PXS[U1.O"QAN?[25=]M*(V:'`#94, M"`Q]#TR30!=_MK2O^@G9_P#?]?\`&C^VM*_Z"=G_`-_U_P`:IR^(X+>6[%Q$ MZ1P.B(^5_>%E#`MY]0GN+A@\ M4JLOE*"OWL9).?8=,444`67T73Y&#-;Y82&3(=A\Q8,>_P#>`..G%)-H>G3E MS);Y+LS-AV'+##=#W[C\:**`'_V/8?9OL_D?N_,,@`=LACU(.U%%`#Z***`/_V3\_ ` end GRAPHIC 46 singlesballotx1x6.jpg GRAPHIC begin 644 singlesballotx1x6.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0`617AI9@``24DJ``@```````````#_ MVP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+#!D2$P\4'1H?'AT:'!P@)"XG("(L M(QP<*#7J#A(6&AXB)BI*3E)66EYB9 MFJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?H MZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!`0$!`0````````$"`P0%!@<("0H+ M_\0`M1$``@$"!`0#!`<%!`0``0)W``$"`Q$$!2$Q!A)!40=A<1,B,H$(%$*1 MH;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF)R@I*C4V-S@Y.D-$149'2$E*4U15 M5E=865IC9&5F9VAI:G-T=79W>'EZ@H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::G MJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:XN/DY>;GZ.GJ\O/T]?;W M^/GZ_]H`#`,!``(1`Q$`/P#W^BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**YS3_&>@:MKUSH=G?F34 MK8NLL/DR#9M;:WS%=M='0`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%8'B'Q?H7A0V_P#;5\;;[2&\G]S))NV[=WW5/]Y:VXY%FC62,[E9 M6X\0ZW<:=:RZ9 MIMVEG#IAD9MTB?>:1MOW=ORKMH`])HKRB-]; M+:6[(OF-$NT\_P!YOF/S,U9>MZU?P>&/%C:)K6IW6C6]G%)!J$KMYD-R9/FC MCD^5F7;M_P!W=0![717E%CK%X?$[)X9U35-:5K">2^AU%6$=O<*%\E>57RV9 MMRM&O_?-0^']7OYK_P`._P!GZSK&I:O/)MUNTO8V6."/:V]F7;MA96VJNW&[ M_:H`]=JM=7<-I:2W4[[(H8VDD;&<*OWJ\S\/Z[>V_B74H;FZU#5V$-S/OMI9 M"%56W+');LJ^3)M^5=K?-6+HGB2^O)]:LI+R2>QNO#EQ>JLUXURTB0LUC;S26\DK>7'M:-U5ED;Y2OEM_>KV&VD\RUB?:Z[D!VR?>'UH M`L4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!7+^(/&6G^&=9TBS MU!O*@U'S56X;[L;+LQN]FW'FNHKC_'W@JU\;:.+>0^3>P;FM9Q_"W]UO]EN* M`/+?!M_:Z;\;/%%[>W$<5K#)?222,WRJOG5ZUX*\7Q>,].O=0@@,5O#>-;Q; MOO,JJK;C_P!]5\\:+\.->U3Q7+H4T$EL8&Q>3.ORQK_>_P!K=_#_`'J^EO#G MA[3O#&CQ:9ID(CA7YF8_>D;NS>]`&S1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!6;K=__`&1H.HZD(_,^R6TEQLSC=M5FQ6E5>YLX;RUEMKF)9()H MVCD1NC*WWA0!X!\8_$6G>)](\+ZCILH>%Q<[@?O(W[GY6_VJ],@\>:?_`,)7 MHWA.S*SW4T3?:9$;Y8=L3-M_WOE_"O%_'WPSU#PMJR#3XIKK3;J3;;%5W,K- M_P`LV_VO_0J]6^&OPTB\*Q)JFIH)];E7C^);56_A7_:_O-_D@'IM%%%`!111 M0`5FZSI5EKFEW6F:C#Y]G-'AX][+N_$$']:**`-*BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"D(!.2!11 M0`AC4C&/RXIU%%`!1110`4444`%&!110`F!Z"EHHH`****`"BBB@`HHHH`** %**`/_]D_ ` end GRAPHIC 47 singlesballotx2x1.jpg GRAPHIC begin 644 singlesballotx2x1.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0`617AI9@``24DJ``@```````````#_ MVP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+#!D2$P\4'1H?'AT:'!P@)"XG("(L M(QP<*#7J#A(6&AXB)BI*3E)66EYB9 MFJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?H MZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!`0$!`0````````$"`P0%!@<("0H+ M_\0`M1$``@$"!`0#!`<%!`0``0)W``$"`Q$$!2$Q!A)!40=A<1,B,H$(%$*1 MH;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF)R@I*C4V-S@Y.D-$149'2$E*4U15 M5E=865IC9&5F9VAI:G-T=79W>'EZ@H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::G MJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:XN/DY>;GZ.GJ\O/T]?;W M^/GZ_]H`#`,!``(1`Q$`/P#W^BBB@`HHHH`****`"BBB@`HHHH`****`"BBB M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**YS3_&>@:MKUSH=G?F34 MK8NLL/DR#9M;:WS%=M='0`4444`%%%%`!1110`4444`%%%%`!1110`4444`% M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44 M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111 M0`4444`%%8'B'Q?H7A0V_P#;5\;;[2&\G]S))NV[=WW5/]Y:VXY%FC62,[E9 M6X\0ZW<:=:RZ9 MIMVEG#IAD9MTB?>:1MOW=ORKMH`])HKRB-]; M+:6[(OF-$NT\_P!YOF/S,U9>MZU?P>&/%C:)K6IW6C6]G%)!J$KMYD-R9/FC MCD^5F7;M_P!W=0![717E%CK%X?$[)X9U35-:5K">2^AU%6$=O<*%\E>57RV9 MMRM&O_?-0^']7OYK_P`._P!GZSK&I:O/)MUNTO8V6."/:V]F7;MA96VJNW&[ M_:H`]=JM=7<-I:2W4[[(H8VDD;&<*OWJ\S\/Z[>V_B74H;FZU#5V$-S/OMI9 M"%56W+');LJ^3)M^5=K?-6+HGB2^O)]:LI+R2>QNO#EQ>JLUXURTB0LUC;S26\DK>7'M:-U5ED;Y2OEM_>KV&VD\RUB?:Z[D!VR?>'UH M`L4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!7+^(/&6G^&=9TBS MU!O*@U'S56X;[L;+LQN]FW'FNHKC_'W@JU\;:.+>0^3>P;FM9Q_"W]UO]EN* M`/+?!M_:Z;\;/%%[>W$<5K#)?222,WRJOG5ZUX*\7Q>,].O=0@@,5O#>-;Q; MOO,JJK;C_P!]5\\:+\.->U3Q7+H4T$EL8&Q>3.ORQK_>_P!K=_#_`'J^EO#G MA[3O#&CQ:9ID(CA7YF8_>D;NS>]`&S1110`4444`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444` M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4 M444`%%%%`!6;K=__`&1H.HZD(_,^R6TEQLSC=M5FQ6E5>YLX;RUEMKF)9()H MVCD1NC*WWA0!X!\8_$6G>)](\+ZCILH>%Q<[@?O(W[GY6_VJ],@\>:?_`,)7 MHWA.S*SW4T3?:9$;Y8=L3-M_WOE_"O%_'WPSU#PMJR#3XIKK3;J3;;%5W,K- M_P`LV_VO_0J]6^&OPTB\*Q)JFIH)];E7C^);56_A7_:_O-_D@'IM%%%`!111 M0`5FZSI5EKFEW6F:C#Y]G-'AX][+N_$$']:**`-*BBB@`HHHH`****`"BBB@ M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"D(!.2!11 M0`AC4C&/RXIU%%`!1110`4444`%&!110`F!Z"EHHH`****`"BBB@`HHHH`** %**`/_]D_ ` end GRAPHIC 48 ezvoteballotx1x15.jpg GRAPHIC begin 644 ezvoteballotx1x15.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0`617AI9@``24DJ``@```````````#_ MVP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+#!D2$P\4'1H?'AT:'!P@)"XG("(L M(QP<*#7J#A(6&AXB)BI*3E)66EYB9 MFJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?H MZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!`0$!`0````````$"`P0%!@<("0H+ M_\0`M1$``@$"!`0#!`<%!`0``0)W``$"`Q$$!2$Q!A)!40=A<1,B,H$(%$*1 MH;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF)R@I*C4V-S@Y.D-$149'2$E*4U15 M5E=865IC9&5F9VAI:G-T=79W>'EZ@H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::G MJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:XN/DY>;GZ.GJ\O/T]?;W M^/GZ_]H`#`,!``(1`Q$`/P#W^N/^(>KWN@>`]4U32I_)O(/+\N3:K;=TJJWR MM\O=J["OFKQUK&O:#=>)O#.HPLVG:I9)YDS*J#:K?[/RUW%?*NBZCXA\1Z#9^"-&AVP[I)+AE; M_6;FW?O&_A5:^JJ`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@!I;%.HHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`9YB^9Y>1NQG%>1^$O&.OZE\6=:T.[O_.TV MUDN5AA\F-=NV3:OS*NZH_BG#XDT'Q3:^,=&'^BVEK';S;?FS^\D9@R_W?F6O M+=,\<76D^+M8\165LHNK_P"T>6K-N6)I)-W_``+;0!]8K(KE@K!BIPWM4E<% M\+-*UK3/"UQ)KN[[=?7C7C>8VZ3#*J_-_M?+7>T`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!7-^+/"6G>+M':POTVLOS0SJ/FA M;^\O^%=)10!R_@_P9IO@[2/L=FOF3/\`-/-UPRL-P85P6C?";0='\63:U$K2IN#VUK(H,<#>O^U_L_P!VO1** M`"BBB@`HHHH`****`"BBB@`HHHH`****`"LCQ#?3:7X:U348`C36EI-<1J_W M2RJ67/Y5KU5N+>&ZMY8)XTEAD4JZ.NY65NH(H`\WN_B#JEA:WL4^F`74,9FM M[ADD@693#<2*WDM\R_-;LNUF^;[U;_B+Q)J.E6UF\<%MYALY;VX!+2*PC";H MXV^7YF\SY6_V?NUT-SI.GWMQ'<7%C;33QJR)))&K,JM]Y5/:B?2M/GBM89;& MV>&U96@1H581,OW67^[B@#EI/%FH01^*S+8QPRZ1;O<6^^-MK?Z[;N_O!O)5 MMR_\]-OWEJS8ZIK%SJ6E1KXXYJM!XPAF@7;#)';(K1CYON M\?+]YO\`OHT`5]9UW[%H>MW-I'(+G3;22<>=;R+&S*C,N"=H=>/X6_*N7N?' M.I66HV]A+%;22"<6\DR6\GER-YMJNY<,WEKMN)%^9OO*O^ZW?W%O#=6\L$\: M2PR*5='7 GRAPHIC 49 ezvoteballotx2x2.jpg GRAPHIC begin 644 ezvoteballotx2x2.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_X0`617AI9@``24DJ``@```````````#_ MVP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+#!D2$P\4'1H?'AT:'!P@)"XG("(L M(QP<*#7J#A(6&AXB)BI*3E)66EYB9 MFJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&Q\C)RM+3U-76U]C9VN'BX^3EYN?H MZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!`0$!`0````````$"`P0%!@<("0H+ M_\0`M1$``@$"!`0#!`<%!`0``0)W``$"`Q$$!2$Q!A)!40=A<1,B,H$(%$*1 MH;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF)R@I*C4V-S@Y.D-$149'2$E*4U15 M5E=865IC9&5F9VAI:G-T=79W>'EZ@H.$A8:'B(F*DI.4E9:7F)F:HJ.DI::G MJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:XN/DY>;GZ.GJ\O/T]?;W M^/GZ_]H`#`,!``(1`Q$`/P#W^N1^(FL7N@^`M4U32I_)O(/+\N3:K;=TJJWR MM\O=JZZOFOQUK.OZ!<^)_#&HPLVG:I9)YDS*J#:K?[/RUVU?*VB:CXB\2Z#9>!M%AVP[I)+AE; M_6;FW?O&_A5:^J:`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`* M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@!I;%.HHH`****`" MBBB@`HHHH`****`"BBB@`HHHH`9YB^9Y>1NQG%>2>$?&6OZG\6]:T.\O_.TV MUDN5AA\F-=NV3:OS*NZH_BG%XDT#Q3:>,M&7_1;2UCMYMOS9_>2,P9?[OS+7 MEFF>.+K2?%^L>(K*V475_P#:/+5FW+$TDF[_`(%MH`^LED5RP5@Q4X;VI]<' M\*]*UK3/"UQ)KN[[=?7C7C>8VZ3#*J_-_M?+7>4`%%%%`!1110`4444`%%%% M`!1110`4444`%%%%`!1110`4444`%%%%`!7.>+/"6G>+]':POTVLOS0SJ/FA M;^\O^%='10!S'@_P9IO@[2/L=FOF3/\`-/,/$OC)[VXU2SL+:RM?W6Z"%T9INZ M_,S?=7_T):`/2J*P?%6I7FD:`]W8F%;KSK>&/SE+(#),D?S*&7^]_>K"3XB6 M%H;>TOUQJ3R20M'$R[=RRM"NWR"+SO.\LQMY*Q^7N9L2>DBGY=S M=1][Y:D@^(-O*M_=?V==&RMX[1X-JJ9)_M$C1JRC=]WA?^^J`.WHK@[SXC:= M'J$NGV5M->7T5U';R0HZ#[TJQM_%PRLVW#;=W^[\U6HOB%I=Q)8QQ6M^[7D< M,T86->%D61OF^;^%86W4`=E17'P^/=(E\.7&MO%=P6]NT(=)PJO^\6-H_P"+ M;\PD7^+ZUC7?Q**13S65D;N`6]Q<0R%?+VK';P3+N^;YMWG?>^7^'Y?XJ`/2 M:*X2_P#BAH&EQ`W:W,3XD,D'[OS(V1V0KC=\WS1LOR[L?Q;:EUSQK-I<`D@T MJ9MVE3:CB9E7RQ'M^5EW?[7\/^S0!VU%A^]0!V5%<4_Q&T9!5;B-O^!?Q?-0!VU%<#9?$-+IM)2.UDG$Z; MKFXV+&JM]F:XVJNYOFVJO\6WYOO4D?Q,TR5[BY-O,-/AMHYQ/YD?^L:9H?+^ M]M^\OWMVW[WS;:`._HKD--\:VVM>(K.PT^%WMI[9YFN'7;SMAD55]?EF7=6+ MX8^(=QJ$=BNHPQ7+7GDB.7348)%(RR-)')N;K&L>YL?WA\M`'I-%<=;_`!`T MNXMK6>.WO76YNUM8U\M/O]UHV#*?[OWMM))XSAET^>738)3+'<06A\ M\#:DTDGE[6VM_P`L_P"+_@/-`'945QFI^.K+P] M:6FE?\2:4S7MK'<21[E'E,TT,;+_`.1OSV_[6T`[NBN2L/'NCW^K6.EQ^='> M7BR$1NJ_NV5G5E;YO6.3E=R_+][YEW9UE\2K,:393:I!+'-)8QW4TEO'NA5F MCDDVK\V[[L,GY4`=]17G\'Q#CCN8'O[>6V@E:\5T*+F'R9A&K2-O^7^[M56^ M9J6?Q_'#YD<=K.UTUY#"L4D>WR4;[/N,C;F^[]H5?E_B_P"^J`._HKB[KXB: M-;0S32K=+%;?-*S>6OR^=-#_`!-\WS0M\OWON\;OEJA?^.+R+3[6=9=-M1-J M=W:&6Z5C'YUP8U&ZX7_`)8K\WWO_'?]J@#K MJ*YE=:O9-SJ?\`9_VJ`.UHKD/"OC1/$=S<6S64L%Q"\@<,5V[5E:-< M#.[^'KMV[@R[OEJM\2/$6O\`A/0X]6T>"SGBCDV72W$;-M5ONM\K+_%\O_`J M`.XHKF_!VH:QK'AFUU'6XK:&YN5\U8[>-E"QG[N=S-\W>NDH`****`"BBB@" M&2*.>-HY45XW7#*PW!A7!Z+\)=`T;Q9-K<:M*FX/;6LB@QP-Z_[7^S_=KT*B M@`HHHH`****`"BBB@`HHHH`****`"BBB@`K*\07TVE>&M4U*`(TUI:37$:O] MTLJEES^5:M5I[>&ZMY8)XTEAD4JZ.NY65NH(H`\XN_B'JMA:7L4^EJ+J*(RV M]PR20+,IAN)%;R6^9?FMV7:S?-]ZM_Q%XEU'2;6R>."V\TV9\K?[/W:Z&YTG3KVXCN+FQMIIXU9$DDB5F56^\JGM1/I6GSPVL,MC M;/#:LK0(T*L(F7[K+_=Q0!RS^+-0AB\6&6QCAET>V>XM]\;;6_UVW=_>#>2K M;E_YZ;?O+5FQU36+K4M)B6XMI8KF*6:Z0Z=-!(BKE=R^9)\OS%%VLO/S-71' M3;$QW<9LH-EV2;A?+7;-E=K;O[W''-5H/#FB6TT$T&C6$,T"[89([9%:,?-] MWCY?O-_WT:`*^LZ]]BT/6[FTCD%SIMI).//MY%C9E1F7!.T.O'\+?E7+7/CO M4K+48+":&VDD$XMY)DMY/+D;S;5=RX9O+7;<2+\S?>5?]UN_GMX;JWE@GC26 M&12KHZ[E96Z@BJRZ-ID<=O''I]HL<(VQ*L"@1_,K?+QQ\RJWU5?2@#2HHHH` M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H MHHH`****`"BBB@`JI:V-M8(\=I#'$DDK3,%&-S,V6-6Z*`,_5M+L]8TZ2RO8 MVD@=D8JLC1G*LK+\R\_>5:IIX9TB*6U>.`HULOEQ[)I!N7[VUOF^?YOF^;=6 MY10!RB^`?#>U$6P8+%MV*;F7:"J[%/WOO*ORJWWEVK_=6K\/AS28+A+B.U?S MXY?-5VFD9@_D^3NY;YOW?R__`%ZW**`.6A\#>'HX9H5T["2QR0L&GD8&-EC5 ME^]Q\L:#_9V_+4\/@_0[:.XCALRL<[0LZB5R/W+^9'MRWRJK?PK7144`8,WA MC29Y+AI+:3%Q(LSJ+B11YBMN5E"M\K;ANW+4%EX-\/V%PL\%AB2/&PO+(VWY M77"AFPJ[9I!M_P!KV%=+10!S\?A;1X=-DT]+,);S>6&&]PKI**`.#]"=F/V)HV8-\T4TD>- MRQJVW:WR\0Q_]\_6D7PCH/F>8FEQ`[85X8@XC963]8X_][:N[[M='10!S!\# M>&QY>=.^6.'R57S9-NWRVC^[NY;RV9=WWJ(_!6A1Q2(+*3]ZGER%KF4LW[SS M>7Y/F&5S\N%7[N[&[;&OS=?E MJ6'0=.MX-,AAM]D>F_\`'HNYOW?[LQ_\"^5F'/K6M10!S2^#-`2".&/3U6** M7SHU$C85_EPWWOO+M55_NJNU=HJ>U\,:?;:;>V+H9TO;A[J]7;3P]I= MCJTNJP6VR]E5U>3S&*_,RLV%W;1N95:MNB@#G1X.T()L&FH8]_F;69BOW63; M][[NV1_E^[\U37/AC2;TV/VFV:1[)52$M/)G:K*R[OF^;YHU;YMWW:W**`,. MT\.Z79WZ7=K:&&XC\PAQ*W/F,SMN7=\WS.Q^;[N[C%5SX*\/>5'"U@&CCC2% M5:1V&Q4DC5?O?W9I!_P*NDHH`YD^"/#K6OV9]/$D)61=DDLC95Y%D;=N;YOW MBAJFN/"6B7=T+JXL-\WVC[3N\UU_>?N_]KI^YC^7[ORUT%%`'+7/@CPY>/<- M+I[9N3ODVSR+_P`],[=K?+N\Z3.WKN:M*'0--M3;F*V"_9KB2ZB_>'Y9)-V] MO_(C5KT4`84OA;1YU"2V091/)<8+M_K)&W/GYN59OX?NU6_X0S1Q=0RQP/$L M5TMX8@0RO,N[;(=V?F^9OF7:S?Q;JZ:B@#$NO#^E:C<37-S;%WFB:*7$C*LB MLNWYE!VM\K=:KP^#]#@MYH4LFVW,?ES%KB1F;]XTGWF;=NWR,V[K71T4`8.E M>%M'T6X^T6-LR3;64,\\DF-S;FV[F;;N:M6[LK?4+.:TNX5EMY5V21M]UEJS M10`U555"J-JCM3J**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH ;`****`"BBB@`HHHH`****`"BBB@`HHHH`__9 ` end -----END PRIVACY-ENHANCED MESSAGE-----