Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 212

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 212
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pertaining to non-US issuers.

I. Board-Approved Proposals

Proxies will be voted forboard-approved proposals, except as follows:

| A. | Matters Relating to the Board of Directors |

Uncontested Election of Directors

The board of directors has the important role of overseeing management and
its performance on behalf of shareholders. When evaluating a company’s board, Putnam may consider the diversity of professional
backgrounds and personal characteristics. Putnam believes that companies generally benefit from diversity on the board, including diversity
with respect to gender, ethnicity, race, skills, perspectives and experience.

Proxies will be voted for the election of the company’s
nominees for directors (and/or subsidiary directors) and for board-approved proposals on other matters relating to the board
of directors (provided that such nominees and other matters have been approved by an independent nominating committee), except as follows:

| Ø | Putnam will withhold votes from the entire board of directors if: |

| • | The board does not have a majority of independent directors, |

| • | The board does not have nominating, audit and compensation committees composed solely of independent directors, or |

| • | The board has more than 15 members or fewer than five members, absent special circumstances. |

| Ø | Putnam may refrain from withholding votes from the board due to insufficient key committee independence due to director resignation, change 
 in board structure, or other specific circumstances, provided that the company has stated (for example in an 8-K), or it can otherwise      
 be determined, that the board will address committee composition to ensure compliance with the applicable corporate governance code in      
 a timely manner after the shareholder meeting and the company has a history of appropriate board independence.                              |

Unless otherwise indicated, for the purposes of determining whether a board
has a majority of independent directors and independent nominating, audit, and compensation committees, an independent director is a director
who (1) meets all requirements to serve as an independent director of a company under the final NYSE Corporate Governance Rules (e.g.,
no material business relationships with the company and no present or recent employment relationship with the company (including employment
of an immediate family member as an executive officer)), and (2) has not accepted directly or indirectly any consulting, advisory, or
other compensatory fee (excluding immaterial fees for transactional services as defined by the NYSE Corporate Governance rules) from the
company other than in his or her capacity as a member of the board of directors