The following Funds announced today their share repurchase activity during the second quarter of 2025. Ticker Fund Name Shares Repurchased (4/1/25 – 6/30/25) Shares Repurchased Since Inception of Each Fund’s Repurchase Program PMM Putnam Managed Municipal Income Trust 280,433 18,381,419 PMO Putnam Municipal Opportunities Trust 690,423 17,414,975 TDF Templeton Dragon Fund, Inc. 59,196 9,416,184 EMF Templeton Emerging Markets Fund 52,676 3,137,210 The Funds seek to enhance shareholder value by repurchasing their common shares when trading at a discount to the Fund’s net asset value (“NAV”) per share. All repurchased shares are canceled and the difference between the purchase price and NAV results in incremental accretion to the Fund’s NAV for all common shareholders. Each Fund’s Board of Directors/Trustees has authorized each Fund to repurchase shares when they are trading at a discount to NAV. Each Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period.