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Investment Type: pif

Principal Global Listed Infrastructure Inst Fund (PGSLX)

Quick Facts Ticker: PGSLX Inception Date: 09/22/2022 Morningstar Category: Infrastructure Total Net Assets (mil): $125.40	Investment Strategy    What's this? The investment seeks total return. The fund seeks to achieve its objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in securities issued by listed infrastructure companies. It invests primarily in equity securities regardless of market capitalization (small, medium, or large) and invests in both value and growth securities. The fund also invests in REITs but only those REITs that are engaged in the development, operation, or management of infrastructure assets.
Morningstar Style Box™   as of 09/30/2025    What's this?	Overall Morningstar Star Rating™   as of 10/31/2025    What's this? Out of 81 Infrastructure Funds Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.

Total Returns

Returns shown for periods of less than one year are not annualized. All returns displayed here are after Total Investment Expense of the investment option.

The Year-to-Date Change represents an unannualized rate of return (change in value) since the start of the year. All returns shown here are after the Total Investment Expense of the investment option.

In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the fund. Performance when shown reflects the application of net expenses of the fund.

Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For more performance information, including the most recent month-end performance, visit principal.com.

Insurance products and plan administrative services provided through Principal Life Insurance Company®. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. Certain investment options and contract[PB1] riders may not be available in all states or U.S. commonwealths.

Month-End | Quarter-End

Average Annual Total Returns as of 10/31/2025

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Total Return % 0.34 4.09 15.57 11.15 11.55 --- --- 10.95 FTSE Global Core Infrastructure 50/50 Index % -0.73 2.72 12.62 9.05 9.96 8.52 7.11 --- Infrastructure Category % 0.92 4.76 19.95 16.14 12.72 10.63 7.82 --- Morningstar Percentile Rankings** --- --- --- 77 56 --- --- --- # of Funds in Category 92 91 89 89 81 77 47 ---

* Inception Date: 09/22/2022

**Morningstar percentile rankings are based on total returns.

Expenses   as of 10/31/2025 Total Investment Expense - Gross: 1.26% Total Investment Expense - Net: 0.89% Contractual Cap Date: 12/30/2025 Total Investment Expense Gross Per $1,000 Invested: $12.60

Inv Manager or Sub-Advisor

   What's this?

Principal Global Investors

Portfolio Managers

   What's this?

Emily Foshag , CFA Since 09/22/2022 B.S. , New York University (Stern)

Alex Mottershead Since 03/29/2024

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