Exhibit 99.11

 

		ROPES & GRAY LLP   PRUDENTIAL TOWER   800 BOYLSTON STREET   BOSTON, MA 02199-3600   WWW.ROPESGRAY.COM

[ ], 2026

Putnam Diversified Income Trust

100 Federal Street

Boston, Massachusetts 02110

Ladies and Gentlemen:

We have acted as counsel to Putnam Diversified Income Trust in connection with the Registration Statement of Putnam Diversified Income Trust on Form N-14 (the “Registration Statement”), under the Securities Act of 1933, as amended, relating to the proposed combination of Putnam Diversified Income Trust with Putnam Global Income Trust, and the issuance of shares of Putnam Diversified Income Trust in connection therewith (the “Shares”), all in accordance with the terms of the Agreement and Plan of Reorganization by and among Putnam Diversified Income Trust, Putnam Global Income Trust, and, with respect to Section 5 only, Franklin Advisers, Inc. (the “Agreement”).

We have examined Putnam Diversified Income Trust’s Amended and Restated Agreement and Declaration of Trust on file in the office of the Secretary of The Commonwealth of Massachusetts (the “Agreement and Declaration of Trust”), as well as Putnam Diversified Income Trust’s Amended and Restated Bylaws, and are familiar with the actions taken by the Trustees in connection with the issuance and sale of the Shares. We have also examined such other documents and records as we have deemed necessary for the purposes of this opinion.

Based upon the foregoing, we are of the opinion that:

1. Putnam Diversified Income Trust is a duly established and validly existing unincorporated voluntary association with transferable shares of beneficial interest under the laws of The Commonwealth of Massachusetts and is authorized to issue an unlimited number of its shares of beneficial interest.

2. The Shares have been duly authorized and, when issued in accordance with the Agreement, will be validly issued, fully paid, and nonassessable by Putnam Diversified Income Trust.

The foregoing opinions are limited to matters arising under the laws of The Commonwealth of Massachusetts.

Putnam Diversified Income Trust is an entity of the type commonly known as a “Massachusetts business trust.” Under Massachusetts law, shareholders could, under certain circumstances, be held personally liable for the obligations of Putnam Diversified Income Trust. However, the Agreement and Declaration of Trust disclaims shareholder liability for acts or obligations of Putnam Diversified Income Trust and requires that notice of such disclaimer be given in each

note, bond, contract, instrument, certificate, or undertaking entered into or executed by Putnam Diversified Income Trust or the Trustees. The Agreement and Declaration of Trust provides for indemnification out of the property of Putnam Diversified Income Trust for all loss and expense of any shareholder of Putnam Diversified Income Trust held personally liable solely by reason of his being or having been a shareholder. Thus, the risk of a shareholder incurring financial loss on account of shareholder liability is limited to circumstances in which Putnam Diversified Income Trust itself would be unable to meet its obligations.

We consent to the filing of this opinion as an exhibit to the Registration Statement and to the reference to Ropes & Gray LLP in the statement of additional information constituting a part thereof.

Very truly yours,

Ropes & Gray LLP