Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 220

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 220
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vote in favor of adjourning, unless the vote concerns an issue that is being referred back to Putnam for case-by-case review. Under such
circumstances, the proposal to adjourn should also be referred to Putnam for case-by-case analysis.

| Ø | Putnam will vote against management proposals to adopt a specific state’s courts, or a specific U.S. district court                            
 as the exclusive forum for certain disputes, except that Putnam will vote for proposals adopting the State of Delaware,                        
 or the Delaware Chancery Court, as the exclusive forum, for corporate law matters for issuers incorporated in Delaware. Requiring shareholders 
 to bring actions solely in one state may discourage the pursuit of derivative claims by increasing their difficulty and cost. However,         
 Putnam’s guideline recognizes the expertise of the Delaware state court system in handling disputes involving Delaware corporations.           
 In addition, Putnam will withhold votes from the chair of the Nominating/Governance committee if a company amends its Bylaws,                  
 or takes other actions, to adopt a specific state’s courts (other than Delaware courts, for issuers incorporated in Delaware) or               
 a specific U.S. district court as the exclusive forum for certain disputes without shareholder approval.                                       |

| Ø | Putnam will vote on a case-by-case basis on management proposals seeking to adopt a bylaw amendment allowing the company               
 to shift legal fees and costs to unsuccessful plaintiffs in intra-corporate litigation (fee-shifting bylaw). Additionally, Putnam will 
 vote against the Chair of the Nominating/Governance committee if a company adopts a fee-shifting bylaw amendment without               
 shareholder approval.                                                                                                                  |

| Ø | Putnam will support management/shareholder proxy access proposals as long as the proposals align with the following principles for a shareholder 
 (or up to 20 shareholders together as a group) to receive proxy access:                                                                          |

1) The required minimum aggregate ownership of the Company’s
outstanding common stock is no greater than 3%;

2) The required minimum holding period for the shareholder proponent(s)
is no greater than two years; and

3) The shareholder(s) are permitted to nominate at least 20% of
director candidates for election to the board.

Proposals requesting shares be held for 3 years will be reviewed
on a case-by-case basis. Putnam will vote agains proposals requesting shares be held for more than
three years. Proposals that meet Putnam’s stated criteria and include other requirements relating to