Company: PPT
Filing Date: 2025-03-27
Form Type: N-CSRS
Source: 0000928816-25-000406
Chunk: 24

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-03-27
Form: N-CSRS
Chunk 24
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 year ordinary losses ((i) ordinary losses recognized between January 1, 2024 and July 31, 2024, and/or (ii) specified ordinary and currency losses recognized between November 1, 2023 and July 31, 2024). Tax cost of investments includes adjustments to net unrealized appreciation (depreciation) which may not necessarily be final tax cost basis adjustments, but closely approximate the tax basis unrealized gains and losses that may be realized and distributed to shareholders. The aggregate identified cost on a tax basis is $475,561,164, resulting in gross unrealized appreciation and depreciation of $20,888,164 and $68,012,431, respectively, or net unrealized depreciation of $47,124,267. Distributions to shareholders Distributions to shareholders from net investment income, if any, are recorded by the fund on the ex-dividend date. Distributions from capital gains, if any, are recorded on the ex-dividend date and paid at least annually. The fund uses targeted distribution rates, whose principal source of the distribution is ordinary income. However,the balance of the distribution, if any, comes first from capital gain and then will constitute a return of capital. A return of capital is not taxable; rather it reduces a shareholder’s tax basis in their shares of the fund. The fund may make return of capital distributions to achieve the targeted distribution rates. The amount and character of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. Dividend sources are estimated at the time of declaration. Actual results may vary. Any non-taxable return of capital cannot be determined until final tax calculations are completed after the end of the fund’s fiscal year. Reclassifications are made to the fund’s capital accounts to reflect income and gains available for distribution (or available capital loss carryovers) under income tax regulations.

| Premier Income Trust 53 |

Note 2: Management fee, administrative services and other transactions The fund pays Franklin Advisers for management and investment advisory services quarterly based on the average net assets (including assets, but excluding liabilities, attributable to leverage for investment purposes) of the fund. The fee is based on the following annual rates:

|        | of the first $500 million of average |     |        | of the next $5 billion of average       |
| 0.750% | net assets,                          |     | 0.480% | net assets,                             |
|        | of the next