Principal: Empowering People to Drive Positive Change for the Future

At Principal®, we are drawn to people who bring unique perspectives, passion, and expertise to help us advance the financial security and well-being of our customers, transform our growing business, and drive positive change in the communities where we live and work. As part of our collaborative culture, we prioritize inclusion, shared values, and genuine support for every employee around the world. All our employees contribute to a thriving environment of authenticity, action, and accountability—which reverberates within our company and our communities.

Principal has a long-standing commitment to inclusion. We added our first person of color to our Board of Directors almost 45 years ago, and one year later, we added the first female to our Board. Our longest-serving female Board member joined in 1992 and retired after 30 years of service in 2022. Today, 67% of our Board members are diverse in their gender, race, or national origin. Forty-seven percent of management positions are filled by women, and 54% of our global workforce are women. People of color make up 16% of our U.S. workforce.

Pay equity is central to our compensation practices and policies. We conduct an annual global pay audit to identify unexplained differences in pay between employees doing similar work in commensurate positions. To ensure that the findings are objective, a credible third-party conduct the audit. On a global level, our pay review and evaluation includes a gender pay gap assessment. In the U.S., where most of our employees are based, our pay review and evaluation includes both a gender and a racial pay gap assessment. While we do not currently disclose the specific results of our pay review and evaluation, we continue to be proud of our gender and racial pay equity performance, which support that our pay aligns with our stated non-discriminatory compensation philosophies.

To promote pay transparency, in 2022 we began posting the minimum and maximum salary ranges for all open positions in the U.S.—both internally and externally. We believe that disclosing the salary range for all U.S.-based open positions is not only crucial to giving individuals more agency, but it is also a necessary step to reducing pay disparities, creating a fair application and recruitment process, and finding highly qualified candidates.

Our commitment to fair hiring practices complies with equal employment opportunity commission (EEOC) regulations. We are committed to attracting and retaining a workforce with broad perspectives that is well-positioned to serve the diverse needs of our customers. We are proud of our recruiting efforts; as of December 31, 2024:

• Women at VP level and above comprise 35% in the U.S. and 36% globally

• 51% of our new hires were women in 2024

• Women represent nearly 56% of our U.S. employees and 53% global employees

As a result of our current inclusion efforts, Principal was recognized in 2024 for the following: one of America’s Best Employers for Diversity (Forbes); One of the World’s Most Ethical Companies®; Disability: IN Best places to Work for Disability Inclusion; America’s Best Employers for Women (Forbes); and Diversity MBA Media’s list 50 Out Front: Best Places to Work for Women and Diverse Managers.

Girls Who Invest

In 2022, Principal became part of a multinational coalition of leading investment firms from the United States, United Kingdom, and Canada in supporting and partnering with Girls Who Invest (GWI). This innovative initiative targets sophomore-level college students, aiming to increase female representation in the investment industry through a comprehensive approach combining educational programs, mentorship and internship opportunities, and community support.

Both Principal Asset Management and Principal Real Estate have actively partnered with GWI’s summer intensive program since 2022 to source potential internship candidates. Internships offer valuable experiences that provide candidates with hands-on exposure to finance and investment careers. During the 2024 program year, Principal Real Estate hired one GWI intern, contributing to GWI’s mission of developing the next generation of female investment professionals.

Sponsors for Educational Opportunities

Sponsors for Educational Opportunities (SEO) is an innovator in education and mentorship that is focused on creating a more equitable society by closing the educational and career opportunity gap for ambitious young people, including those from Black, Hispanic/Latino, or Native American communities. Principal Real Estate began partnering with this group in 2023 to source potential internship candidates and has helped successful SEO candidates gain experience in careers in real estate.

Rotational Analyst

Principal Real Estate’s Rotational Analyst Program allows incoming analysts to rotate through roles in all four of the quadrants of real estate investment (public and private debt and equity). The analysts spend time in each of the areas, allowing them to gain a broader view of real estate operations before starting their careers in any one of the areas.

Women in Real Estate

Principal Real Estate launched Women in Real Estate (WIRE) in 2016 as a strategic initiative to enhance gender inclusion within the organization. WIRE’s core purpose is to foster an environment that supports professional growth through development programs and networking opportunities. The initiative also aims to build a more inclusive culture and develop leadership across the global real estate investment management sector. WIRE is open to all Principal Real Estate employees, and the group currently comprises over 100 members.

Throughout 2024, WIRE organized several impactful events including:

• A strategic workshop focused on professional development and career planning

• An environmentally-focused event combining a property tour of a sustainable redevelopment project with a conservation discussion panel

• An industry-specific panel highlighting Principal Real Estate’s expertise in the data center sector, featuring accomplished leaders from within the organization

• An ongoing mentorship initiative designed to expand professional networks and enhance industry knowledge among participants

Women Investors Network

In February 2024, the Women Investors Network (WIN) was launched to support our goal of recruiting, retaining, and developing female investors in Principal Asset Management.  The mission of WIN is to foster an inclusive environment of women with Principal Asset Management to develop skills, create connections and to advance professionally and personally. 

Principal Employees as Members of CREW Iowa

CREW serves as a vital platform connecting professionals in the commercial real estate sector. The organization focuses on empowering women in commercial real estate through strategic networking, professional development, industry outreach, and research initiatives.

Principal maintains a strong presence within the Iowa chapter of CREW, with 27 employees holding memberships, including 17 who actively serve on various committees. Committee participation offers members valuable insights into CREW Iowa’s operations, facilitates professional connections, and provides essential experience for future leadership roles within the organization.

As a Diamond-level sponsor of CREW Iowa, Principal Asset Management demonstrates its commitment to the organization’s mission. One notable benefit Principal provides is a scholarship program for attendance at the prestigious CREW Network Convention. This annual event draws more than 1,300 commercial real estate leaders from across the world, offering unique opportunities for business networking and deal-making, industry education and leadership development, exposure to emerging trends and technologies, and insights into innovative industry projects. All Principal CREW members are eligible to apply for scholarship funding to offset convention attendance expenses, encouraging them to participate in this significant industry gathering.  

Principal Asset Management^SM is a trade name of Principal Global Investors, LLC. Principal Real Estate is a trade name of Principal Real Estate Investors, LLC, an affiliate of Principal Global Investors.Principal Global Investors^®leads global asset management and is a member of thePrincipal Financial Group^®, Des Moines, IA 50392.

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