Company: PPT
Filing Date: 2025-09-26
Form Type: N-CSR
Source: 0001133228-25-010195
Chunk: 209

Company: PUTNAM PREMIER INCOME TRUST
Filing Date: 2025-09-26
Form: N-CSR
Chunk 209
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 Guidelines, certain proxy matters will be referred to Portfolio
Managers. The Portfolio Manager receiving the referral request may delegate the vote decision to an appropriate Analyst from among a list
of eligible analysts (such list to be approved by the Chief Investment Officer of the Putnam Equity group and the Director of Equity Research
for the Putnam Equity group). The Analyst will be required to make the affirmation and disclosures identified in (3) below. Normally specific
referral items will be referred to the portfolio team leader (or another member of the portfolio team he or she designates) whose accounts
hold the greatest number of shares of the issuer of the proxies through the Proxy Referral Administration Database. The referral request
contains (1) a field that will be used by the portfolio team leader or member for recommending a vote on each referral item, (2) a field
for describing any contacts relating to the proxy referral item the portfolio team may have had with any Franklin Templeton employee outside
Putnam Equity or with any person other than a proxy solicitor acting in the normal course of proxy solicitation, and (3) a field for portfolio
managers to affirm that they are making vote recommendations in the best interest of client accounts and have disclosed to Compliance
any potential conflicts of interest relevant to their vote recommendation.

Putnam may vote any referred items on securities held solely in accounts
managed by the GAA team within Franklin Templeton Investment Solutions (and not held by any other investment product team) in accordance
with the recommendation of Putnam’s third-party proxy voting service provider. The Proxy Voting Team will first give the relevant
portfolio manager(s) on the GAA team the opportunity to review the referred items and vote on them. If the portfolio manager(s) on the
GAA team do not decide to make any active voting decision on any of the referred items, the items will be voted in accordance with the
service provider’s recommendation. If the security is also held by other investment teams at Putnam Equity, the items will be referred
to the largest holder who is not a member of the GAA team.

The portfolio team leader or members who have been requested to provide
a recommendation on a proxy referral item will complete the referral request. Upon receiving each completed referral request from the applicable Portfolio Manager or Analyst, the Proxy Voting Team will review
the completed request for accuracy and completeness, and will follow up with investment personnel as appropriate.

Conflicts of Interest

A potential conflict of interest may arise when voting proxies of an issuer