Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 14A

(RULE 14A-101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a)

of the Securities Exchange Act of 1934

Filed by the Registrant / X /

Filed by a Party other than the Registrant / /


Check the appropriate box:

/ /	Preliminary Proxy Statement.
/ /	Confidential, for use of the Commission Only (as permitted by Rule 14a-6(e) (2)).
/ /	Definitive Proxy Statement.
/ X /	Definitive Additional Materials.
/ /	Soliciting Material under § 240.14a-12.


PUTNAM MANAGED MUNICIPAL INCOME TRUST
PUTNAM MUNICIPAL OPPORTUNITIES TRUST

(Name of Registrant as Specified in its Charter)

(Name of Person(s) Filing Proxy Statement,
if Other Than the Registrant)



Payment of Filing Fee (Check the appropriate box):

/ X /	No fee required.

/ /	Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
	(1) Title of each class of securities to which transaction applies:
	(2) Aggregate number of securities to which transaction applies:
	(3) Per unit price or other underlying value of transaction computed pursuant to Exchange
	Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how
	it was determined):
	(4) Proposed maximum aggregate value of transaction:


	(5) Total fee paid:

/ /	Fee paid previously with preliminary materials.

/ /	Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and
	identify the filing for which the offsetting fee was paid previously. Identify the previous
	filing by registration statement number, or the Form or Schedule and the date of its filing.
	(1) Amount Previously Paid:
	(2) Form, Schedule or Registration Statement No.:
	(3) Filing Party:
	(4) Date Filed:

-2-

Dear Shareholder:

Your Fund’s Special Meeting of Shareholders is scheduled for October 6, 2023. The Board of Trustees of The Putnam Funds recommends you vote in favor of all proposals on the WHITE proxy card from Putnam.

Why reject Saba and discard the GOLD proxy card?
If Saba’s solicitation is successful, it could disrupt Fund operations and leave the Funds without an investment adviser.

What is wrong with Saba’s solicitation effort?
Saba Capital Management offers no long-term plan for the Funds. Saba is an activist closed-end fund investor seeking to prevent the approval of the Fund’s management contract. Should its efforts succeed, it could disrupt the operations of the Funds, leaving them without an investment adviser.

The Board of Trustees of The Putnam Funds urges you
NOT to sign any proxy cards from Saba.

Why vote the WHITE proxy card?
The Board of Trustees of The Putnam Funds has unanimously approved the Fund's management contracts and recommended that shareholders approve the contracts. Shareholder approval of the proposals will allow your Fund to operate without interruption.

If you already signed a Saba proxy card, you have the right as a shareholder of the Fund to change your vote before the meeting takes place. You can do this by using the WHITE proxy card sent to you by Putnam, which will replace the gold proxy card you previously completed. Regardless of the number of shares you own, it is important that your shares be represented at the meeting by voting your proxy.

Vote using the WHITE proxy card.
Discard any GOLD proxy cards.

If you have any questions, please contact our Proxy Solicitor, EQ Fund Solutions, at 877-536-1555, Monday through Friday between the hours of 9:00 a.m. and 10:00 p.m. Eastern Time.

Thank you for voting.