On August 7, 2020, Pioneer Floating Rate Trust announced that, in connection with its upcoming 2020 annual meeting of shareholders to be held on September 16, 2020, the Fund has sent a letter to shareholders. The Company stated that the Board unanimously recommends and strongly encourages you to vote the white proxy card for all the Fund's highly qualified and very experienced nominees and against Saba Capital Management, L.P.'s proposal to terminate the Fund's investment advisory agreement with Amundi Pioneer.