Principal Real Estate Income Fund Announces Sources of Distribution for September 2025.

The Principal Real Estate Income Fund has announced a distribution of $0.1050 per share, with 61.43% coming from net investment income and 38.57% from return of capital or other capital sources. The fiscal year-to-date cumulative distributions show a similar breakdown. The fund estimates that it has distributed more than its income, resulting in a portion of the distribution being a return of capital.

The Principal Real Estate Income Fund (NYSE:PGZ) has announced a distribution of $0.1050 per share to shareholders of record as of September 16, 2025. This distribution was paid on September 30, 2025, and is part of the Fund's managed distribution plan, as required by an exemptive order granted by the U.S. Securities and Exchange Commission Principal Real Estate Income Fund Announces Notification of Sources of Distribution^[1].

The distribution is composed of two main components: net investment income and return of capital or other capital sources. According to the Fund's estimates, 61.43% of the distribution comes from net investment income, while 38.57% is attributed to return of capital or other capital sources. This breakdown is consistent with the fiscal year-to-date cumulative distributions, which also show a similar percentage split Principal Real Estate Income Fund Announces Notification of Sources of Distribution^[1].

The Fund estimates that it has distributed more than its income, resulting in a portion of the distribution being a return of capital. This means that some or all of the money invested in the Fund is being paid back to shareholders, which does not necessarily reflect the Fund's investment performance. It is important to note that a return of capital distribution should not be confused with 'yield' or 'income' Principal Real Estate Income Fund Announces Notification of Sources of Distribution^[1].

The timing and character of distributions for federal income tax purposes are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles (GAAP). As such, all or a portion of this distribution may be reportable as taxable income on the 2025 federal income tax return. The final tax character of any distribution declared in 2025 will be determined in January 2026 and reported to shareholders on IRS Form 1099-DIV Principal Real Estate Income Fund Announces Notification of Sources of Distribution^[1].

The Fund's performance and distribution information for the fiscal year-to-date (November 1, 2024 – August 31, 2025) show an annualized distribution rate of 10.85% of the net asset value (NAV), with a cumulative distribution rate of 9.95% and a cumulative total return on NAV of 8.27%. The average annual total return on NAV for the 5-year period ended August 31, 2025, is 6.30% Principal Real Estate Income Fund Announces Notification of Sources of Distribution^[1].

While the NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholder's investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open market. Past performance does not guarantee future results Principal Real Estate Income Fund Announces Notification of Sources of Distribution^[1].

The Board of Trustees reviews the amount of any potential distribution and the income, capital gain, or capital available. The Board of Trustees will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the financial market environment. The Fund's distribution policy is subject to modification by the Board of Trustees at any time. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund Principal Real Estate Income Fund Announces Notification of Sources of Distribution^[1].