Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 218

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 218
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 repurchase programs, except that Putnam will vote on a case-by-case 
 basis if there are concerns that there may be abusive practices related to the share repurchase programs.            |

D. Acquisitions, Mergers, Reorganizations and Other Transactions

Putnam will vote on a case-by-case basis on business transactions
such as acquisitions, mergers, reorganizations involving business combinations, liquidations and sale of all or substantially all of a
company’s assets.

E. Anti-Takeover Measures

Putnam will vote against board-approved proposals to adopt
anti-takeover measures such as supermajority voting provisions, issuance of blank check preferred stock, the creation of a separate class
of stock with disparate voting rights, control share acquisition provisions, targeted share placements, and ability to make greenmail
payments, except as follows:

| Ø | Putnam will vote on a case-by-case basis on proposals to ratify or approve shareholder rights plans; |

| Ø | Putnam will vote on a case-by-case basis on proposals to adopt fair price provisions. |

| Ø | Putnam will vote on a case-by-case basis on proposals to issue blank check preferred stock in the case of REITs (only) |

| Ø | Putnam will generally vote for proposals that enable or expand shareholders’ ability to take action by written consent. |

| Ø | Putnam will vote on a case-by-case basis on proposals to increase shares of an existing class of stock with disparate voting 
 rights from another share class.                                                                                             |

| Ø | Putnam will vote on a case-by-case basis on shareholder or board-approved proposals to eliminate supermajority voting                         
 provisions at controlled companies (companies in which an individual or a group voting collectively holds a majority of the voting interest). |

| Ø | Putnam will vote on a case-by-case basis on board-approved proposals to adopt supermajority voting provisions at                
 controlled companies (companies in which an individual or a group voting collectively holds a majority of the voting interest). |

| Ø | Putnam will vote on a case-by-case basis on proposals to issue blank check preferred stock if appropriate “de-clawed”                     
 language is present. Specifically, appropriate de-clawed language will include cases where the Company states (i.e., through              
 8-K, proxy statement or other public disclosure) it will not use the preferred stock for anti-takeover purposes, or in order to implement 
 a shareholder rights plan, or discloses a commitment to submit any future issuances of