Principal Real Asset Fund will add State Street Bank and Trust Company as Sub-Administrator and Custodian effective September 8, 2026, making State Street responsible for administration, accounting, recordkeeping and daily net asset value calculation.

Principal Real Asset Fund reported annual fund voting information for the year ended June 30, 2026, identifying one series and no other included managers. This provides investors with fund-level proxy voting reporting transparency without confidential treatment.

Principal Real Asset Fund extended contractual fee and expense limits through July 31, 2027, including a 0.82% management fee waiver, resulting in net annual operating expenses of 1.96%, 1.66%, and 1.46% for Class A, Institutional, and Class Y shares.

Principal Real Asset Fund announced a quarterly repurchase of up to 5% of outstanding common shares at net asset value, with requests due July 31, 2026. Oversubscriptions may be increased by 2% or accepted pro rata.

Principal Real Asset Fund reported $3.2 million of securities sold and $10 million redeemed or repurchased for the fiscal year ending March 31, 2026. No registration fee or interest is due.

Principal Real Asset Fund will remove all references to Jessica S. Bush from its Prospectus and Statement of Additional Information effective April 24, 2026. The update reflects a Portfolio Management personnel change with her name deleted from the relevant disclosure sections.

Principal Real Asset Fund announced a quarterly repurchase offer for up to 5% of its outstanding common shares, with tender requests due April 30, 2026 and NAV-based pricing on that date. Shareholders who tender may receive cash payment within seven calendar days, subject to proration if the offer is oversubscribed.

Principal Private Credit Fund and Principal Real Asset Fund renewed a $1.5 million joint fidelity bond for January 31, 2026 to January 31, 2027. Each pays a ratable portion of 70% of the premium based on relative net assets.

Principal Real Asset Fund updated infrastructure and advisory disclosures, stating it has one sub-advisor for a single strategy and that environmental, social and governance insights may affect exposure to certain companies and industries.

Principal Real Asset Fund announced a quarterly repurchase offer for up to 5% of outstanding common shares at NAV, with requests due January 28, 2026 and NAVs of $27.05, $27.27, and $27.66 for Classes A, I, and Y on December 18, 2025. Shareholders can submit tenders for cash, with payments expected within seven calendar days after pricing.