On March 11, 2024, Ernest J. Scalberg resigned from his role as Trustee of the Principal Real Estate Income Fund, effective that day. Mr. Scalberg?s resignation from the Board was not due to any disagreement with the Fund on any matter relating to its operations, policies, or practices. At its regularly scheduled meeting on March 11, 2024, the Board of Trustees of the Fund, upon the recommendation of the Fund?s Nominating and Corporate Governance Committee, appointed JoEllen Legg to replace Mr. Scalberg as Trustee, effective March 11, 2024.

Ms. Legg was also approved to serve as a member of the Board?s Audit Committee, Nominating and Corporate Governance Committee and Qualified Legal Compliance Committee. In addition, Jerry G. Rutledge was elected as Chairman of the Board, and Jeremy Held was elected as Chairman of the Audit Committee and has been designated as the Fund?s ?audit committee financial expert,? as defined in the rules promulgated by the SEC, and as required by NYSE Listing Standards.