Company: PGZ
Filing Date: 2025-02-21
Form Type: DEF 14A
Source: 0001398344-25-003239
Chunk: 12

Company: Principal Real Estate Income Fund
Filing Date: 2025-02-21
Form: DEF 14A
Chunk 12
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 fiscal year ended October 31, 2024, the
Board of Trustees met six times. Each Trustee then serving in such capacity attended at least 75% of the meetings of Trustees and of any
Committee of which he or she is a member.

Leadership Structure of the Board of Trustees

The Board of Trustees, which has overall responsibility
for the oversight of the Fund’s investment programs and business affairs, believes that it has structured itself in a manner that
allows it to effectively perform its oversight obligations. The Trustees also complete an annual self-assessment during which the Trustees
review their overall structure and consider where and how its structure remains appropriate in light of the Fund’s current circumstances.
The Board of Trustees has appointed Mr. Held, an Independent Trustee, to serve in the role of Chairman of the Board of Trustees (“Chairman”).
The Chairman’s role is to preside at all meetings of the Board of Trustees and in between meetings of the Board of Trustees to generally
act as the liaison between the Board of Trustees and the Fund’s officers, attorneys and various other service providers, including
but not limited to ALPS and other such third parties servicing the Fund.

The Fund has three standing committees, each of which
enhances the leadership structure of the Board of Trustees: the Audit Committee; the Nominating and Corporate Governance Committee; and
the Qualified Legal Compliance Committee. The Audit Committee, Nominating and Corporate Governance Committee, and the Qualified Legal
Compliance Committee are each chaired by, and composed of, members who are Independent Trustees.

Oversight of Risk Management

The Fund is confronted with a multitude of risks,
such as investment risk, counter party risk, valuation risk, political risk, risk of operational failures, business continuity risk, regulatory
risk, legal risk and other risks not listed here. The Board of Trustees recognizes that not all risk that may affect the Fund can be known,
eliminated or even mitigated. In addition, there are some risks that may not be cost effective or an efficient use of the Fund’s
limited resources to moderate. As a result of these realities, the Board of Trustees, through its oversight and leadership, has and will
continue to deem it necessary for shareholders of the Fund to bear certain and undeniable risks, such as investment risk, in order for
the Fund to operate in accordance with its prospectus, statement of additional information and other related documents.

However, as required under the 1940 Act, the Board
of Trustees has adopted on