Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 229

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 229
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 made (e.g., United Kingdom and Australia); |

| • | Contains provisions to automatically vest upon change-of-control; or |

| • | Other poor compensation practices or structures. |

| • | Pension provisions for new executives is not at the same level as the majority of the wider workforce; pension provisions for incumbent 
 executives are not set to decrease over time (United Kingdom)                                                                           |

| • | Proposed CEO salary increases are not justifiably appropriate in comparison to wider workforce or rationale for exception increases is 
 not fully disclosed (United Kingdom)                                                                                                   |

| Ø | Putnam will vote on a case-by-case basis on bonus payments to executive directors or senior management; however, Putnam 
 will vote against payments that include outsiders or independent statutory auditors.                                    |

Matters Relating to Board of Directors

Uncontested Board Elections

Asia: China, Hong Kong, India, Indonesia, Philippines, Taiwan and Thailand

| Ø | Putnam will vote against the entire board of directors if |

| • | fewer than one-third of the directors are independent directors, or |

| • | the board has not established audit, compensation and nominating committees each composed of a majority of independent 
 directors, or                                                                                                          |

| • | the chair of the audit, compensation or nominating committee is not an independent director. |

Commentary: Companies listed in China (or dual-listed in China and Hong
Kong) often have a separate supervisory committee in addition to a standard board of directors containing audit, compensation, and nominating
committees. The supervisory committee provides oversight of the financial affairs of the company and supervises members of the board and
management, while the board of directors makes decisions related to the company’s business and investment strategies. The supervisory
committee normally comprises employee representatives and shareholder representatives. Shareholder representatives are elected by shareholders
of the company while employee representatives are elected by the company’s staff. Shareholder representatives may be independent
or may be affiliated with the company or its substantial shareholders. Current laws and regulations neither provide a basis for evaluation
of supervisor independence nor do they require a supervisor to be independent.

| Ø | Putnam will generally vote in favor of nominees to the Supervisory Committee |

Australia

| Ø | Putnam will vote against the entire board of directors if |

| • | fewer than a majority of the directors are independent, or |

| • | the board has not established an audit committee composed solely of non-executive directors, a majority of whom, including the chair