Putnam Funds Trust

09/30/2025 | Press release | Distributed by Public on 09/30/2025 07:47

Prospectus by Investment Company (Form 497)

PGOF-P39 09/25

SUPPLEMENT DATED SEPTEMBER 30, 2025

TO THE SUMMARY PROSPECTUS, PROSPECTUS

AND STATEMENT OF ADDITIONAL INFORMATION ("SAI")

OF EACH FUND LISTED IN SCHEDULE A

Effective September 30, 2025, the following footnote is added to all references to Gerard Sullivan in each fund's Summary Prospectus, Prospectus and SAI:

* Mr. Sullivan is anticipated to retire and step down as a member of the fund's portfolio management team on or about December 31, 2025.

Schedule A

Putnam Core Equity Fund

Putnam VT Core Equity Fund

Shareholders should retain this Supplement for future reference.

Putnam Funds Trust published this content on September 30, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on September 30, 2025 at 13:47 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]