Company: PGZ
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001398344-25-003239
Chunk: 5

Company: Principal Real Estate Income Fund
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 5
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| Proposal                    | Class     | Expiration          
 of Term if Elected  |
| Independent Trustee/Nominee |           |                     |
| Stephanie J. Bullington     | Class I   | 2026 Annual Meeting |
| JoEllen L. Legg             | Class III | 2028 Annual Meeting |

Unless authority is withheld, it is the intention
of the persons named in the proxy to vote the proxy “FOR” the election of the nominees named above. The nominees have indicated
that they each have consented to serve as a Trustee if elected at the Meeting. However, if a designated nominee declines or otherwise
becomes unavailable for election, the proxy confers discretionary power on the persons named therein to vote in favor of a substitute
nominee or nominees.

Information About the Nominees’ Professional Experience and Qualifications

JoEllen L. Legg - Ms. Legg has been a Trustee
of the Fund since March 2024. She currently serves on the Fund’s Qualified Legal Compliance Committee, Nominating and Corporate
Governance Committee and on the Audit Committee JoEllen Legg currently serves as a Trustee of the Reaves Utility Income Fund and was formerly
Counsel with Practus, LLP, a law firm (2017-2019). She previously served as Vice President and Assistant General Counsel of ALPS Fund
Services, Inc., an administrator and transfer agent, and of ALPS Distributors, Inc., a broker-dealer, as Senior Counsel (Corporate and
Securities) of Adelphia Communications Corporation, a public cable company, and held Associate positions at Fried, Frank, Harris, Shriver
& Jacobson, LLP and Patton Boggs LLP (law firms). Ms. Legg has served a Trustee of the Reaves Utility Income Fund since 2022. Ms.
Legg also serves as a member of the Reaves Utility Income Fund's Audit Committee and chair of the Reaves Utility Income Fund’s Nominating
and Corporate Governance Committee. She was selected to serve as a Trustee of the Fund based on her financial services and investment
management experience.

Stephanie J. Bullington - Ms. Bullington is
a contractor with Populus Group, LLC, a firm providing non-permanent workforce programs for employers. Prior to joining Populus Group,
Ms. Bullington was the Chief Financial Officer (“CFO”) at Ascentris, a real estate private equity firm based in Denver, Colorado.
Ms.