Why Putnam Voyager Fund?

• Outperformed 97% of its Lipper large-cap growth peers for the 1-year period ended 6/30/10
• Has outperformed in up and down markets with Nick Thakore’s disciplined, risk-conscious approach
• Since 1969, it has targeted leading companies for investors, backed by Putnam’s 70-year equity investing heritage.

Lipper rankings as of 6/30/10

Morningstar ratings as of 6/30/10

Lipper rankings for class A shares are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.

For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Morningstar rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics. Data is historical. Past performance is no guarantee of future results. Morningstar Ratings shown are for class A shares only; other classes may have different performance characteristics.

Putnam Voyager Fund has consistently outperformed

As of July 2010. Russell 1000 Growth Index is an unmanaged index of those companies in the large-cap Russell 1000 Index chosen for their growth orientation. You cannot invest directly in an index. Past performance is not indicative of future results.

Annualized total return performance as of 6/30/10

Total expense ratio: 1.28%

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or a loss when you sell your shares. Performance of class A shares is shown before sales charge, assumes reinvestment of distributions, and does not account for taxes. Had the 5.75% sales charge been reflected, returns would have been lower. For a portion of the period, this fund may have limited expenses, without which returns would have been lower. A short-term trading fee of 1% may apply to redemptions or exchanges from certain funds within the time period specified in the fund's prospectus. For the most recent month-end performance, visit http://www.putnam.com/funds/voyager.htm.