Company: PGZ
Filing Date: 2025-03-04
Form Type: DEFR14A
Source: 0001398344-25-004645
Chunk: 11

Company: Principal Real Estate Income Fund
Filing Date: 2025-03-04
Form: DEFR14A
Chunk 11
---
 |

| (a) | hold themselves out to investors as related companies for purposes of investment and investor services; 
 or                                                                                                      |

| (b) | have a common investment adviser or that have an investment adviser that is an affiliated person of 
 the investment adviser of any of the other registered investment companies.                         |

| (2) | The number of funds within the fund complex overseen by a trustee includes portfolios that a nominee 
 would oversee if elected.                                                                            |

| (3) | The numbers enclosed parenthetically represent the number of funds overseen in each directorship that                                    
 the Trustee has held. Regarding ALPS ETF Trust and ALPS Variable Investment Trust, all funds are included in the total funds in the Fund 
 Complex column.                                                                                                                          |

| (4) | Officers are elected annually. Each officer will hold such office until a successor has been elected 
 by the Board of Trustees.                                                                            |

<div align='center'>Beneficial Ownership of Common Shares (1)</div>

Set forth in the table below is the dollar range of equity securities held
in the Fund and on an aggregate basis for all funds overseen in a family of investment companies overseen by each Trustee.

| Name of Trustee/Nominee | Dollar Range of Equity         
 Securities Held in the Fund(2) | Aggregate Dollar Range of Equity Securities Held in All 
 Funds in the Family of Investment Companies             |
| Stephanie J. Bullington | None                           | None                                                    |
| Jeremy Held             | $10,001 - $50,000              | $10,001 - $50,000                                       |
| JoEllen L. Legg         | None                           | None                                                    |
| Rick A. Pederson        | None                           | None                                                    |

| (1) | This information has been furnished by each Trustee and nominee for election as Trustee as of December 31, 2024. “Beneficial 
 Ownership” is determined in accordance with Section 16a-1(a)(2) under                                                        
 the Securities Exchange Act of 1934, as amended (the “1934 Act”).                                                            |

| (2) | Ownership amount constitutes less than 1% of the total Common Shares outstanding. |

Trustee Transactions with Fund Affiliates

As of December 31, 2024, none of the trustees who
are not “interested persons” (as defined in the 1940 Act) (each an “Independent Trustee” and collectively the
“Independent Trustees”), nor members of their