Company: PGZ
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001398344-25-003239
Chunk: 10

Company: Principal Real Estate Income Fund
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 10
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 “Beneficial 
 Ownership” is determined in accordance with Section 16a-1(a)(2) under                                                        
 the Securities Exchange Act of 1934, as amended (the “1934 Act”).                                                            |

| (2) | Ownership amount constitutes less than 1% of the total Common Shares outstanding. |

Trustee Transactions with Fund Affiliates

As of December 31, 2024, none of the trustees who
are not “interested persons” (as defined in the 1940 Act) (each an “Independent Trustee” and collectively the
“Independent Trustees”), nor members of their immediate families owned securities, beneficially or of record, in ALPS Advisors
or Principal Real Estate Investors, LLC (the “Sub-Adviser”), or an affiliate or person directly or indirectly controlling,
controlled by, or under common control with ALPS Advisors or Sub-Adviser. Furthermore, over the past five years, neither the Independent
Trustees nor members of their immediate families have any direct or indirect interest, the value of which exceeds $120,000, in ALPS Advisors
or Sub-Adviser or any of their respective affiliates. In addition, for the fiscal year ended October 31, 2024, neither the Independent
Trustees nor members of their immediate families have conducted any transactions (or series of transactions) or maintained any direct
or indirect relationship in which the amount involved exceeds $120,000 and to which ALPS Advisors or Sub-Adviser or any of their respective
affiliates was a party.

Trustee Compensation

The following table sets forth certain information
regarding the compensation of the Fund’s Trustees for the fiscal year ended October 31, 2024. Officers of the Fund who are employed
by ALPS or ALPS Advisors receive no compensation or expense reimbursement from the Fund or any other fund in the Fund Complex.

| Name of Trustee/Nominee             | Aggregate Compensation 
           from Fund(1) |    Pension or Retirement 
 Benefits Accrued as Part 
         of Fund Expenses |     Total Compensation 
 from the Fund and Fund 
        Complex Paid to 
            Trustees(2) | Number of Funds in Trustee’s Fund 
                           Complex |
| Non-Interested Trustees             |                        |                          |                        |                                   |
| Jeremy Held                         |                $50,750 |                       $0 |                $50,750 |                                 1 |
| JoEllen L. Legg                     |                $34