Information Regarding Approval of Investment Advisory and Sub-Advisory Contracts

Please click on the links below to view a discussion by fund of the factors the Boards of Trustees (the Board) of the Invesco Funds (each, a Fund) considered in evaluating the fairness and reasonableness of each Fund’s advisory agreement and sub-advisory contracts, as applicable. For each Fund, the respective link provides a summary of the Senior Officer’s independent written evaluation in 2018 and 2019 with respect to the investment advisory agreement as well as a discussion of the material factors and related conclusions that formed the basis for the Board’s approval of the investment advisory agreement and sub-advisory contracts. Unless otherwise stated, this information is current as of June 2018 and June 2019 respectively, and does not reflect consideration of factors that became known to the Board after those respective dates, including for example, changes to a Fund’s performance, advisory fees, expense limitations and/or fee waivers.