FTGF Pathway to Putnam US Research Fund - T2 EUR ACC Fonds

To generate long-term capital appreciation. The Fund will pursue its investment objective while gradually shifting exposure from the Euro Government Bond Strategy to the US Research Strategy over a four-year-life-cycle (the 'Life-Cycle') on a staged basis. The Fund will launch with a target of investing 80% of its assets in accordance with the Euro Government Bond Strategy and a target of investing 20% of its assets in accordance with the US Research Strategy. At the end of the first two-month period following the launch of the Fund, the Investment Manager will rebalance the Fund to the same 80%/20% threshold. Thereafter, the Investment Manager will rebalance the Fund at the end of each calendar quarter by increasing the Fund's target exposure to the US Research Strategy on a linear basis by 5% over the remainder of the intended Life-Cycle of the Fund. At the end of the Life-Cycle, the Fund will aim to be fully exposed to the US Research Strategy.