On May 6, 2020, Pioneer Floating Rate Trust confirmed that it has received a notice from Saba Capital Master Fund, Ltd. regarding its intent to nominate 3 candidates; Charles I. Clarvit, Stephen G. Flanagan, and Frederic Gabriel for election to the Fund’s Board of Trustees at the Fund’s 2020 annual meeting of shareholders and to present a shareholder proposal. The Fund stated that its shareholders are not required to take any action at this time and its definitive proxy statement to be filed with the Securities and Exchange Commission in connection with its 2020 annual meeting of shareholders will present formal recommendations regarding Saba’s candidates and proposal.