Company: PGZ
Filing Date: 2025-03-04
Form Type: DEFR14A
Source: 0001398344-25-004645
Chunk: 15

Company: Principal Real Estate Income Fund
Filing Date: 2025-03-04
Form: DEFR14A
Chunk 15
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 the Fund or its service providers since the CCO’s last report and (3) disclose any material compliance
matters that occurred since the date of the last CCO report. In addition, the Independent Trustees meet quarterly in executive sessions
without the presence of any Interested Trustees, ALPS, the Sub-Adviser or any of their affiliates. This configuration permits the Independent
Trustees to effectively receive the information and have private discussions necessary to perform their risk oversight role, exercise
independent judgment, and allocate areas of responsibility between the full Board of Trustees, its various committees and certain officers
of the Fund. Furthermore, the Independent Trustees have engaged independent legal counsel and auditors to assist the Independent Trustees
in performing their oversight responsibilities. As discussed above and in consideration of other factors not referenced herein, the Board
of Trustees has determined its leadership role concerning risk management as one of oversight and not active management of the Fund’s
day-to-day risk management operations.

Audit Committee Report

The Audit Committee of the Board of Trustees (“Audit
Committee”) is comprised of Messrs. Held (Financial Expert and Chairman) and Pederson and Ms. Legg. The role of the Fund’s
Audit Committee is to assist the Board of Trustees in its oversight of (i) the quality and integrity of Fund’s financial statements,
reporting process and the independent registered public accounting firm (the “independent accountants”) and reviews thereof,
(ii) the Fund’s accounting and financial reporting policies and practices, its internal controls and, as appropriate, the internal
controls of certain service providers, (iii) the Fund’s compliance with legal and regulatory requirements and (iv) the independent
accountants’ qualifications, independence and performance. The Audit Committee is also required to prepare an audit committee report
pursuant to the rules of the SEC for inclusion in the Fund’s annual proxy statement. The Audit Committee operates pursuant to the
Audit Committee Charter (the “Audit Committee Charter”) that was most recently reviewed and approved by the Audit Committee
on June 10, 2024, at which time the Audit Committee determined it had no changes to recommend to the Board of Trustees. The Audit Committee
Charter is available at the Fund’s website, www.principalcef.com. As set forth in the Audit Committee Charter, management is responsible
for maintaining appropriate systems for accounting and internal control, and the Fund’s independent accountants are responsible
for planning and carrying out proper audits and reviews. The independent accountants are ultimately accountable to the Board