Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 221

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 221
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 issues such as, but not limited
to, shares on loan or compensation agreements with nominees, will be reviewed on a case-by-case basis.

Additionally, shareholder proposals seeking an amendment to a company’s
proxy access policy which include any one of the supported criteria under Putnam’s guidelines, for example, a 2-year holding period
for shareholders, will be reviewed on a case-by-case basis.

| Ø | Putnam supports management / shareholder proposals giving shareholders the right to call a special meeting as long as the ownership requirement 
 in such proposals is at least 15% of the company’s outstanding common stock and not more than 25%.                                              |

In general, Putnam will vote for management or shareholder
proposals to reduce the ownership requirement below a company’s existing threshold, as long as the new threshold is at least 15%and not greater than 25%of the company’s outstanding common stock.

Putnam will vote against any proposal with an ownership
requirement exceeding 25%of the company’s common stock or an ownership requirement that is less than 15%of the company’s
outstanding common stock.

In cases where there are competing management and shareholder proposals
giving shareholders the right to call a special meeting, Putnam will generally vote for the proposal which has the lower
minimum shareholder ownership threshold, as long as that threshold is within Putnam’s recommended minimum/maximum thresholds. If
only one of the competing proposals has a threshold that falls within Putnam’s threshold range, Putnam will normally support that
proposal as long as it represents an improvement (reduction) from the previous requisite ownership level. Putnam will normally vote against
both proposals if neither proposal has a requisite ownership level between 15%and 25%of the company’s outstanding
common stock.

| Ø | Putnam will generally vote for management or shareholder proposals to allow a company to hold virtual-only or hybrid shareholder            
 meetings or to amend its articles/charter/by-laws to allow for virtual-only or hybrid shareholder meetings, provided the proposal does      
 not preclude in-person meetings (at any given time), and does not otherwise limit or impair shareholder participation; and if the company   
 has provided clear disclosure to ensure that shareholders can effectively participate in virtual-only shareholder meetings and meaningfully 
 communicate with company management and directors. Additionally, Putnam may consider the rationale of the proposal and whether there have   
 been concerns about the company’s previous meeting practices.                                                                               |

Disclosure should address the following:

| • | the ability of