FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: File No. 811-4616 Putnam High Yield Advantage Fund - ------------------------------------------------------------------------- (Exact name of registrant as specified in charter) One Post Office Square, Boston, Massachusetts 02109 - ------------------------------------------------------------------------- (Address of principal executive offices) Beth S. Mazor, Vice President Putnam High Yield Advantage Fund One Post Office Square Boston, Massachusetts 02109 Copy To: John W. Gerstmayr, Esq. Ropes & Gray LLP One International Place Boston, Massachusetts 02110 - ------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (617) 292-1000 Date of Fiscal year-end: 11/30 Date of reporting period: 7/1/2003 - 6/30/2004 Item 1. Proxy Voting Record Account Number: Putnam High Yield Advantage Fund ISSUER NAME TICKER CUSIP MTG DATE MTG TYPE Proposal Type Voted? Vote For/Agnst Mgmt - -------------------------------------------------------------------------------------------------------------------------------- Covad Communications Group, Inc COVD 222814204 8/14/03 Annual 1.10 Elect Director Larry Irving MGMT YES FOR FOR 1.20 Elect Director Richard A. Jalkut MGMT YES FOR FOR 1.30 Elect Director Daniel C. Lynch MGMT YES FOR FOR 2.00 Approve Employee Stock Purchase Plan MGMT YES AGNST AGNST 3.00 Ratify Auditors MGMT YES FOR FOR Mariner Health Care, Inc. MHCA 56845X108 7/30/03 Annual 1.10 Elect Director Victor L. Lund MGMT YES AGNST AGNST 1.20 Elect Director C. Christian Winkle MGMT YES AGNST AGNST 1.30 Elect Director Patrick H. Daugherty MGMT YES AGNST AGNST 1.40 Elect Director Earl P. Holland MGMT YES AGNST AGNST 1.50 Elect Director Philip L. Maslowe MGMT YES AGNST AGNST 1.60 Elect Director Mohsin Y. Meghji MGMT YES AGNST AGNST 1.70 Elect Director M. Edward Stearns MGMT YES AGNST AGNST Metrocall Holdings, Inc. MTOH 59164X105 9/24/03 Special 1.00 Increase Authorized Common Stock MGMT YES FOR FOR Increase Authorized Common Stock 2.00 Amend Securities Transfer Restrictions MGMT YES FOR FOR Amend Securities Transfer Restrictions 3.00 Amend Stock Option Plan MGMT YES AGNST AGNST Amend Stock Option Plan Metrocall Holdings, Inc. MTOH 59164X204 9/24/03 Special 1.00 Increase Authorized Common Stock MGMT YES FOR FOR Increase Authorized Common Stock 2.00 Amend Securities Transfer Restrictions MGMT YES FOR FOR Amend Securities Transfer Restrictions 3.00 Amend Stock Option Plan MGMT YES AGNST AGNST Amend Stock Option Plan Safety Components International, Inc. SAFY 786474205 10/14/03 Annual 1.10 Elect Director Ben E. Waide III MGMT NO 1.20 Elect Director Carroll R. Wetzel, Jr. MGMT NO 2.00 Ratify Auditors MGMT NO Sirius Satellite Radio, Inc. SIRI 82966U103 11/25/03 Annual 1.10 Elect Director Leon D. Black MGMT YES AGNST AGNST 1.20 Elect Director Joseph P. Clayton MGMT YES AGNST AGNST 1.30 Elect Director Lawrence F. Gilberti MGMT YES AGNST AGNST 1.40 Elect Director James P. Holden MGMT YES AGNST AGNST 1.50 Elect Director Warren N. Lieberfarb MGMT YES AGNST AGNST 1.60 Elect Director Michael J. McGuiness MGMT YES AGNST AGNST 1.70 Elect Director James F. Mooney MGMT YES AGNST AGNST 2.00 Amend Omnibus Stock Plan MGMT YES AGNST AGNST Sterling Chemicals, Inc. SCHI 859166AA8 4/16/04 Annual 1.10 Elect Director Richard K. Crump MGMT YES AGNST AGNST 1.20 Elect Director Peter Ting Kai Wu MGMT YES AGNST AGNST 2.00 Ratify Auditors MGMT YES FOR FOR Any ballot marked 'Abstain' is considered to have been voted. Ballots marked 'Abstain' are considered to have been voted against management's recommendation, regardless of whether the recommendation is 'For' or 'Against,' except where management has made no recommendation or has recommended that shareholders 'Abstain.' Where management has recommended that shareholders 'Abstain' from voting on a ballot item: 1) a ballot market 'Abstain' is considered to have been voted for management's recommendation to 'Abstain' and 2) a ballot voted 'For" or 'Against' is considered to have been voted against management's recommendation to 'Abstain.' Where management has made no recommendation on a ballot item, the abbreviation "N/A" is used to denote that there is no applicable recommendation compared to which a vote may be 'For' or 'Against' the recommendation of management. SIGNATURES: Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Putnam High Yield Advantage Fund - ------------------------------------------------------------------------- (Registrant) By: /s/ Charles E. Porter*, Executive Vice President, Associate Treasurer and Principal Executive Officer ------------------------------------------------------------------ (Signature & Title) Date: August 23, 2004 ------------------------------------------------------------------ * By Jonathan S. Horwitz, pursuant to a Power-of-Attorney