Paul M. Drury is a Portfolio Manager in the Tax Exempt Fixed Income group. In this role, he is responsible for managing several sectors within the municipal market. He is also a Portfolio Manager of Putnam’s taxexempt funds. Mr. Drury, a CFA charterholder, has been in the investment industry since he joined Putnam in 1989.

Mr. Hamilton has been employed by Putnam since 2016 as a Portfolio Manager. Prior to joining Putnam, Mr. Hamilton was a Portfolio Manager at BNY Mellon from 2010 to 2016.

Mr. Conn has been a portfolio manager of Franklin Advisers, Inc since November 2020. He joined Franklin Templeton in 2006.

Mr. Bonelli is a Portfolio Manager and Research Analyst of Franklin Advisers, Inc. He joined Franklin Templeton Investments in 2010.

John Wiley, Senior Vice President, has been a lead portfolio manager since 1993. Wiley has been an analyst or portfolio manager with Franklin Templeton Investments, his employer since 1989. He holds the Chartered Financial Analyst designation.

Sperry has been an analyst or portfolio manager of Franklin Templeton Investments, his employer since 1996. Sperry holds the Chartered Financial Analyst designation.