Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 214

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 214
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 directors with substantially full-time employment) who serve on more than a few outside boards.

| Ø | Putnam will vote against any non-executive nominee for director who serves on more than four (4) public company boards,                     
 except where Putnam would otherwise be withholding votes for the entire board of directors. For the purpose of this guideline, boards       
 of affiliated registered investment companies and other similar entities such as UCITS will count as one board. Generally, Putnam will      
 withhold support from directors serving on more than four unaffiliated public company boards, although an exception may be made in the      
 case of a director who represents an investing firm with the sole purpose of managing a portfolio of investments that includes the company. |

| Ø | Putnam will withhold votes from any nominee for director who serves as an executive officer of any public company (“home                     
 company”) while serving on more than two (2) public company boards other than the home company board. (Putnam will withhold                  
 votes from the nominee at each company where Putnam client portfolios own shares.) In addition, if Putnam client portfolios are shareholders 
 of the executive’s home company, Putnam will withhold votes from members of the company’s governance committee. For the purpose              
 of this guideline, boards of affiliated registered investment companies and other similar entities such as UCITS will count as one board.    |

| Ø | Putnam will withhold votes from any nominee for director of a public company (Company A) who is employed as a senior executive         
 of another public company (Company B) if a director of Company B serves as a senior executive of Company A (commonly referred to as an 
 “interlocking directorate”).                                                                                                           |

Board independence depends not only on its members’ individual relationships,
but also the board’s overall attitude toward management. Independent boards are committed to good corporate governance practices
and, by providing objective independent judgment, enhancing shareholder value. Putnam may withhold votes on a case-by-case basis from
some or all directors that, through their lack of independence, have failed to observe good corporate governance practices or, through
specific corporate action, have demonstrated a disregard for the interest of shareholders.

Note: Designation of executive director is based on company disclosure.

| Ø | Putnam will vote against proposals that provide that a director may be removed only for cause. Putnam will generally vote 
 for proposals that permit the removal of directors with or without cause.                                                 |

| Ø | Putnam will vote against proposals authorizing a board to fill a director vacancy