Company: PGZ
Filing Date: 2025-07-03
Form Type: N-CSRS
Source: 0001398344-25-012685
Chunk: 24

Company: Principal Real Estate Income Fund
Filing Date: 2025-07-03
Form: N-CSRS
Chunk 24
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31, 2012, as amended and restated through the date
hereof. The Declaration of Trust provides that the Trustees of the Fund may authorize separate classes of shares of beneficial interest.
The Trustees have authorized an unlimited number of common shares. The Fund intends to hold annual meetings of common shareholders in
compliance with the requirements of the NYSE.

Additional shares of the Fund may be issued under
certain circumstances pursuant to the Fund’s Dividend Reinvestment Plan, as defined within the Fund’s organizational documents.
Additional information concerning the Dividend Reinvestment Plan is included within this report. On December 16, 2020, the Board announced
that it approved a share repurchase program. Under the share repurchase program, the Fund could purchase up to 5.0% of its outstanding
common shares beginning January 19, 2021, in the open market, until January 19, 2022. On December 13, 2021, the Board announced that it
approved a renewal of the share repurchase program, under which the Fund may purchase up to approximately 4.0% of its outstanding common
shares beginning January 20, 2022, in the open market, until January 20, 2023. On December 19, 2022, the Board announced that it approved
a renewal of the share repurchase program, under which the Fund may purchase up to approximately 3.5% of its outstanding common shares
beginning January 21, 2023, in the open market, until January 21, 2024. On December 18, 2023, the Board announced that it approved a renewal
of the share repurchase program, under which the Fund may purchase up to approximately 2.1% of its outstanding common shares beginning
January 21, 2024, in the open market, until January 21, 2025. On December 18, 2024 the Board announced that it approved a renewal of the
share repurchase program. Under the share repurchase program, the Fund may purchase up to approximately 2.1% of its outstanding common
shares beginning January 21, 2025 in the open market, until January 21, 2026.

| Principal Real Estate Income Fund | Notes to Financial Statements |

April 30, 2025 (Unaudited)

The total shares remaining that can be repurchased
as of April 30, 2025, are 139