________________________________________________________________________________ Firm Description Invesco Asset Management Ltd. (“IAML”) was incorporated on 7th March 1969 as Cavalier Securities Limited. The name of the Company was changed to Drayton Portfolio Management Limited on 11th October 1973, to Drayton Montagu Portfolio Management Limited on 2nd May 1974, to Montagu Investment Management Limited 29th October 1982, to MIM Limited on 1st August 1985, to Invesco MIM Management Ltd on 1st January 1991 and to Invesco Asset Management Limited on 21st June 1993. IAML is authorized and regulated by the Financial Conduct Authority (“FCA”) in the UK. Additionally, IAML is registered with the U.S. Securities and Exchange Commission (“SEC”) as a registered Investment Adviser. As of December 31, 2023, IAML manages $107,444,647,644.32 AUM in assets for 295 clients. Principal Owners Invesco Ltd (“Invesco”). is the ultimate parent company of IAML. Invesco is a publicly traded leading independent global investment management firm dedicated to helping investors worldwide achieve their financial objectives. Shares of Invesco Ltd. are listed on the New York Stock Exchange under the symbol "IVZ" and Invesco Ltd. is a constituent of the S&P 500®. Advisory Services Invesco positions itself as a global, independent asset manager with a breadth of investment capabilities. We aim to position ourselves ahead of client demand trends and deliver against these needs across channels, asset classes and geographies. We begin with a focus to understand each client’s unique set of investment objectives and then utilize our comprehensive range of active, passive and alternative investment capabilities to provide solutions and outcomes aligned to our clients’ needs. IAML provides discretionary and nondiscretionary investment advisory services across a broad spectrum of investment strategies, sectors and asset classes to individuals and institutional clients through segregated accounts and on a direct or sub-advised basis and other pooled funds on a sub- advised basis. The key activities that IAML provides to clients are:
• Product & Distribution
• Investment Management & Advisory
• Placing and execution of orders as part of portfolio management activity
• Investment Operations IAML’s investment advisory services consist of investigating, identifying, and evaluating investment opportunities, structuring, negotiating and making investments on behalf of its clients, managing and monitoring the performance of such investments and disposing of such investments. IAML provides advisory services in accordance with the applicable investment guidelines, including applicable restrictions on investing in certain securities,

or types of securities or other financial instruments, that are customized by the client, or in accordance with the mandate selected by the client. Investment teams may consider data and analysis on environmental, social and governance (ESG) considerations developed by IAML, its affiliates, or a third party. While IAML provides ESG data to its investment teams, any use of ESG considerations in an investment process or pursuit of an ESG focused investment strategy is determined by independent portfolio management teams, each of which may incorporate ESG considerations into its investment process or pursue its investment strategy in differing manners. IAML acts as Investment Manager to a wide variety of funds and segregated mandates both in the UK and overseas, including but not limited to, Investment Trusts, ICVCs, SICAVs, Invesco Pensions Ltd (“IPL”) and US Mutual Funds. IAML acts as Investment adviser to a wide variety of funds and segregated mandates both in the UK and overseas, including ICVCs, Institutional segregated mandates, Invesco UK UCITS funds, IPL and certain of the Global Product Range of offshore UCITS and Real Estate funds. Institutional Segregated Accounts IAML provides discretionary or nondiscretionary investment advice to institutional clients through separately managed accounts pursuant to the terms of individually negotiated investment management agreements. The investment objectives and guidelines applicable to segregated accounts may be customized for segregated account clients. IAML is the investment advisor for Invesco UK institutional accounts. It is categorised as an investment firm under the second EU Markets in Financial Instruments Directive (MiFID II) and is subject to the MIFIDPRU supervisory framework. It is regulated in the UK by the FCA. Delegated (Sub-advisory) Portfolio Management IAML is the delegated investment advisor in respect of investment management for Invesco UCITS funds, AIFs, Cross Border funds and other Invesco Ltd Group funds. A sub-advisory fee is paid by the contracted Invesco entity in return for the delegated services that IAML carries out. IAML operates a number of different investment capabilities across a range of asset classes these include:
• Invesco Fundamental Equities EMEA
• Invesco Fixed Income (“IFI”) Europe
• Invesco Real Estate
• Invesco Private Credit
• Invesco Exchange Traded Funds (ETF)
• Invesco Multi-Asset Strategies o EMEA Multi-Assets o Investment Solutions (IS) The information in this Brochure is qualified in its entirety by the disclosures contained in the investment management agreements (“IMAs”) and/or offering materials for the respective Funds or client accounts.