PGOF-SA5 02/25
SUPPLEMENT DATED FEBRUARY 20, 2025
TO THE STATEMENT OF ADDITIONAL INFORMATION (“SAI”)
OF EACH FUND LISTED IN SCHEDULE A
Effective February 20, 2025, the following replaces the paragraph preceding the table in the section of each Fund’s SAI entitled “PORTFOLIO MANAGER(S) — Ownership of securities”:
The table below identifies ownership of equity securities of the fund by the portfolio manager(s) responsible for the day-to-day management of the fund as of the fund’s most recent fiscal year-end.
Schedule A
| Putnam Emerging Markets Equity Fund |
| Putnam International Value Fund |
| Putnam Small Cap Growth Fund |
| Putnam Sustainable Leaders Fund |
Shareholders should retain this Supplement for future reference.
