Invesco Reports Results for the Three Months Ended September 30, 2026

⁽¹⁾

Includes non-GAAP financial measure. See the information on pages 8 through 11 for a reconciliation to the most directly comparable U.S. GAAP measure.

⁽²⁾

Net debt: Debt less Cash and cash equivalents

Summary of net flows (in billions)

Q3-26

Q2-26

Q3-25

Long-term inflows

$   181.1

$   202.1

$   138.4

Long-term outflows

(146.0)

(157.0)

(109.5)

Net long-term flows ⁽¹⁾

35.1

45.1

28.9

Non-management fee earning AUM ⁽¹⁾

0.5

0.7

2.6

Money market

52.9

16.9

(5.4)

Total net flows

$     88.5

$     62.7

$     26.1

Annualized long-term organic growth rate ⁽²⁾

6.3 %

8.5 %

7.9 %

⁽¹⁾

Non-management fee earning flows include QQQ’s flows prior to its restructuring from an UIT to an open-end fund ETF on December 20, 2025. Net long-term flows include QQQ’s flows beginning on December 20, 2025. 

⁽²⁾

Annualized long-term organic growth rate is calculated using net long-term flows (annualized) divided by average long-term AUM for the period. Long-term AUM excludes money market and non-management fee earning AUM.

Financial Results

Q3-26

Q2-26

Q3-26 vs.
Q2-26

Q3-25

U.S. GAAP Financial Measures

Operating revenues

 $1,873.2m 

 $1,825.6m 

2.6 %

 $1,640.4m 

14.2 %

Operating income

   $436.5m 

   $364.2m 

19.9 %

   $270.9m 

61.1 %

Operating margin

23.3 %

19.9 %

16.5 %

Net income attributable to Invesco Ltd.

   $294.5m 

   $345.3m 

(14.7 %)

   $301.3m 

(2.3 %)

Diluted EPS

$0.65

$0.76

(14.5 %)

$0.66

(1.5 %)

Adjusted Financial Measures ⁽¹⁾

Net revenues

 $1,381.7m 

 $1,329.1m 

4.0 %

 $1,186.3m 

16.5 %

Adjusted operating income

   $562.3m 

   $498.7m 

12.8 %

   $406.1m 

38.5 %

Adjusted operating margin

40.7 %

37.5 %

34.2 %

Adjusted net income attributable to Invesco Ltd.

   $326.4m 

   $322.3m 

1.3 %

   $275.4m 

18.5 %

Adjusted diluted EPS

$0.72

$0.71

1.4 %

$0.61

18.0 %

Assets Under Management

Ending AUM

 $2,537.8bn 

 $2,470.3bn 

2.7 %

 $2,124.8bn

19.4 %

Average AUM

 $2,510.2bn 

 $2,368.8bn 

6.0 %

 $2,060.4bn

21.8 %

Headcount

7,416

7,405

0.1 %

8,368

(11.4 %)

⁽¹⁾

Represents non-GAAP financial measure. See the information on pages 8 through 11 for a reconciliation to the most directly comparable U.S. GAAP measure.

⁽¹⁾

Represents non-GAAP financial measure. See the information on pages 8 through 11 for a reconciliation to the most directly comparable U.S. GAAP measure.

⁽²⁾

Net debt: Debt less Cash and cash equivalents

Investor Relations Contacts:

Greg Ketron

404-724-4299

Jennifer Church

404-439-3428

Media Relations Contact:

Andrea Raphael

212-323-4202

Invesco Ltd.

U.S. GAAP Condensed Consolidated Income Statements

(Unaudited, in millions, other than per share amounts)

Q3-26

Q2-26

% Change

Q3-25

% Change

Investment management fees

$   1,512.2

$   1,461.8

3.4 %

$   1,184.7

27.6 %

Service and distribution fees

313.2

309.9

1.1 %

400.7

(21.8 %)

Performance fees

2.0

3.7

(45.9 %)

6.5

(69.2 %)

Other

45.8

50.2

(8.8 %)

48.5

(5.6 %)

Total operating revenues

1,873.2

1,825.6

2.6 %

1,640.4

14.2 %

Operating expenses:

Third-party distribution, service and advisory

643.7

627.1

2.6 %

558.3

15.3 %

Employee compensation

493.8

546.7

(9.7 %)

521.6

(5.3 %)

Marketing

35.9

36.7

(2.2 %)

20.1

78.6 %

Property, office and technology

105.9

109.3

(3.1 %)

109.2

(3.0 %)

General and administrative

149.4

133.5

11.9 %

151.3

(1.3 %)

Amortization of intangible assets

8.0

8.1

(1.2 %)

9.0

(11.1 %)

Total operating expenses

1,436.7

1,461.4

(1.7 %)

1,369.5

4.9 %

Operating income

436.5

364.2

19.9 %

270.9

61.1 %

Other income/(expense):

Equity in earnings of unconsolidated affiliates

42.6

35.1

21.4 %

34.8

22.4 %

Interest and dividend income

9.8

9.9

(1.0 %)

10.5

(6.7 %)

Interest expense

(20.3)

(23.6)

(14.0 %)

(25.7)

(21.0 %)

Other gains/(losses), net

(34.2)

105.8

N/A

(0.8)

4,175.0 %

Other income/(expense) of CIP, net

29.5

(36.0)

N/A

57.0

(48.2 %)

Income before income taxes

463.9

455.4

1.9 %

346.7

33.8 %

Income tax (provision)/benefit

(108.3)

(116.5)

(7.0 %)

9.7

N/A

Net income

355.6

338.9

4.9 %

356.4

(0.2 %)

Net (income)/loss attributable to noncontrolling
interests in consolidated entities

(24.1)

43.4

N/A

(10.7)

125.2 %

Less: Dividends declared on preferred shares

(37.0)

(37.0)

— %

(44.4)

(16.7 %)

Net income attributable to Invesco Ltd.

$      294.5

$      345.3

(14.7 %)

$      301.3

(2.3 %)

Earnings per common share:

 – basic

$        0.66

$        0.77

(14.3 %)

$        0.67

(1.5 %)

 – diluted

$        0.65

$        0.76

(14.5 %)

$        0.66

(1.5 %)

Weighted average common shares outstanding:

 – basic

449.1

451.3

(0.5 %)

452.4

(0.7 %)

 – diluted

452.5

454.4

(0.4 %)

454.6

(0.5 %)

Reconciliation of Operating revenues to Net revenues:

(in millions)

Q3-26

Q2-26

Q3-25

Operating revenues, U.S. GAAP basis

$    1,873.2

$    1,825.6

$    1,640.4

Revenue adjustments ⁽¹⁾

Investment management fees

(401.7)

(385.2)

(236.8)

Service and distribution fees

(208.2)

(207.2)

(286.0)

Other

(33.8)

(34.7)

(35.5)

Total revenue adjustments

(643.7)

(627.1)

(558.3)

Invesco Great Wall ⁽²⁾

141.6

121.8

94.3

CIP ⁽³⁾

10.6

8.8

9.9

Net revenues

$    1,381.7

$    1,329.1

$    1,186.3

Reconciliation of Operating income to Adjusted operating income:

(in millions)

Q3-26

Q2-26

Q3-25

Operating income, U.S. GAAP basis

$      436.5

$      364.2

$      270.9

Invesco Great Wall ⁽²⁾

91.2

76.7

68.0

CIP ⁽³⁾

21.8

13.0

28.6

Amortization of intangible assets ⁽⁴⁾

8.0

8.1

9.0

Compensation expense related to market valuation changes in deferred
     compensation liabilities ⁽⁵⁾

4.8

48.4

29.6

Canadian sale and restructuring ⁽⁶⁾

—

(11.7)

—

Adjusted operating income

$      562.3

$      498.7

$      406.1

Operating margin ⁽⁷⁾

23.3 %

19.9 %

16.5 %

Adjusted operating margin ⁽⁸⁾

40.7 %

37.5 %

34.2 %

Reconciliation of Net income attributable to Invesco Ltd. to Adjusted net income attributable to Invesco Ltd.

(in millions)

Q3-26

Q2-26

Q3-25

Net income attributable to Invesco Ltd., U.S. GAAP basis

$       294.5

$       345.3

$       301.3

Adjustments (excluding tax):

Amortization of intangible assets ⁽⁴⁾

8.0

8.1

9.0

Deferred compensation net market valuation changes ⁽⁵⁾

26.2

(26.8)

0.1

Canadian sale and restructuring ⁽⁶⁾

—

(11.7)

—

Total adjustments to Income before income taxes

34.2

(30.4)

9.1

Impact of deferred income tax rate change ⁽⁹⁾

—

—

(39.0)

Tax adjustment for amortization of intangible assets and goodwill ⁽¹⁰⁾

3.9

4.0

4.0

Other tax effects of adjustments above

(6.2)

3.4

—

Adjusted net income attributable to Invesco Ltd.

$       326.4

$       322.3

$       275.4

Weighted average common shares outstanding – diluted

452.5

454.4

454.6

Diluted EPS

$         0.65

$         0.76

$         0.66

Adjusted diluted EPS ⁽¹¹⁾

$         0.72

$         0.71

$         0.61

Reconciliation of Operating expenses to Adjusted operating expenses:

(in millions)

Q3-26

Q2-26

Q3-25

Operating expenses, U.S. GAAP basis

$    1,436.7

$    1,461.4

$    1,369.5

Invesco Great Wall ⁽²⁾

50.4

45.1

26.3

Third-party distribution, service and advisory expenses

(643.7)

(627.1)

(558.3)

CIP ⁽³⁾

(11.2)

(4.2)

(18.7)

Amortization of intangible assets ⁽⁴⁾

(8.0)

(8.1)

(9.0)

Compensation expense related to market valuation changes in deferred
     compensation liabilities ⁽⁵⁾

(4.8)

(48.4)

(29.6)

Canadian sale and restructuring ⁽⁶⁾

—

11.7

—

Adjusted operating expenses

$       819.4

$       830.4

$       780.2

Employee compensation, U.S. GAAP basis

$       493.8

$       546.7

$       521.6

Invesco Great Wall ⁽²⁾

37.8

31.8

14.1

Compensation expense related to market valuation changes in deferred
     compensation liabilities ⁽⁵⁾

(4.8)

(48.4)

(29.6)

Adjusted employee compensation

$       526.8

$       530.1

$       506.1

Marketing, U.S. GAAP basis

$         35.9

$         36.7

$         20.1

Invesco Great Wall ⁽²⁾

3.2

3.7

3.9

Adjusted marketing

$         39.1

$         40.4

$         24.0

Property, office and technology, U.S. GAAP basis

$       105.9

$       109.3

$       109.2

Invesco Great Wall ⁽²⁾

4.5

4.6

4.2

Adjusted property, office and technology

$       110.4

$       113.9

$       113.4

General and administrative, U.S. GAAP basis

$       149.4

$       133.5

$       151.3

Invesco Great Wall ⁽²⁾

4.9

5.0

4.1

CIP ⁽³⁾

(11.2)

(4.2)

(18.7)

Canadian sale and restructuring ⁽⁶⁾

—

11.7

—

Adjusted general and administrative

$       143.1

$       146.0

$       136.7

Amortization of intangible assets, U.S. GAAP basis

$           8.0

$           8.1

$           9.0

Amortization of intangible assets ⁽⁴⁾

(8.0)

(8.1)

(9.0)

Adjusted amortization of intangible assets

$            —

$            —

$            —

⁽¹⁾

Revenue adjustments: The company calculates Net revenues by reducing Operating revenues to exclude fees that are passed through to external parties who perform functions on behalf of, and distribute, the company’s managed funds. The Net revenue presentation assists in identifying the revenue contribution generated by the company, removing distortions caused by the differing distribution channel fees and allowing for a fair comparison with U.S. peer investment managers and within Invesco’s own investment units. Additionally, management evaluates Net revenue yield on AUM, which is equal to Net revenues divided by Average AUM during the reporting period, as an indicator of the Net revenues we receive for each dollar of AUM we manage.

Investment management fees are adjusted by renewal commissions and certain administrative fees. Service and distribution fees are primarily adjusted by distribution fees passed through to broker dealers for certain share classes and pass through fund-related costs. Other revenues are primarily adjusted by transaction fees passed through to third parties.

⁽²⁾

Invesco Great Wall: The company reflects 100% of Invesco Great Wall in its Net revenues and Adjusted operating income (and by calculation, Adjusted operating margin). The company’s non-GAAP operating results reflect the economics of these holdings on a basis consistent with the underlying AUM and flows. Adjusted net income is reduced by the amount of earnings attributable to the noncontrolling interests.

⁽³⁾

CIP: The company believes that the CIP may impact a reader’s analysis of our underlying results of operations and could result in investor confusion or the production of information about the company by analysts or external credit rating agencies that is not reflective of the underlying results of operations and financial condition of the company. Accordingly, the company believes that it is appropriate to adjust Operating revenues and Operating income for the impact of CIP in calculating the respective Net revenues and Adjusted operating income (and by calculation, Adjusted operating margin).

⁽⁴⁾

Amortization of intangible assets: The company removes amortization related to acquired assets in arriving at Adjusted operating income, Adjusted operating margin and Adjusted diluted EPS, as this will aid comparability of our results period to period, and aid comparability with peer companies that may not have similar acquisition-related charges.

⁽⁵⁾

Market valuation changes related to deferred compensation plan liabilities: Certain deferred compensation plan awards provide a return to the employee linked to the appreciation (depreciation) of specified investments. The company economically hedges the exposure to market movements on these deferred compensation liabilities. Since these liabilities are economically hedged, the company believes it is useful to remove the market movements related to the deferred compensation plan liabilities from the calculation of Adjusted operating income (and by calculation, Adjusted operating margin) and to remove the net impact of the economic hedge from the calculation of Adjusted net income (and by calculation, Adjusted diluted EPS) to produce results that will be more comparable period to period.

⁽⁶⁾

Canadian sale and restructuring: In the second quarter of 2026, the company removed the net benefit arising from the Sale of the Canadian Management Agreements and the restructuring of the company’s Canadian operations. The company removed this benefit in arriving at Adjusted operating income, Adjusted operating margin, Adjusted net income, and Adjusted diluted EPS, as this will aid comparability of our results period to period and aid comparability with peer companies that may not have similar activities.

⁽⁷⁾

Operating margin is equal to Operating income divided by Operating revenues.

⁽⁸⁾

Adjusted operating margin is equal to Adjusted operating income divided by Net revenues.

⁽⁹⁾

Impact of deferred income tax rate change: In the third quarter of 2025, the company removed a non-cash income tax benefit of $39.0 million related to the revaluation of the deferred tax liabilities for indefinite-lived intangible assets as a result of a decrease in the tax rate. The company removed this discrete tax benefit in arriving at Adjusted net income and Adjusted diluted EPS as it does not have a cash flow impact and will aid comparability of our results period to period.

⁽¹⁰⁾

Tax adjustment for amortization of intangible assets and goodwill: The company reflects the tax benefit realized on the tax amortization of goodwill and intangibles in Adjusted net income. The company believes it is useful to include this tax benefit in arriving at the Adjusted diluted EPS measure.

⁽¹¹⁾

Adjusted diluted EPS is equal to Adjusted net income attributable to Invesco Ltd. divided by the weighted average number of common and restricted common shares outstanding.

Invesco Ltd.

Assets Under Management

Nine months ended

(in billions)

September
30, 2026

June 30,
2026

% Change

September
30, 2025

September
30, 2026

September
30, 2025

% Change

Beginning Assets

$   2,470.3

$   2,159.5

14.4 %

$   2,001.4

$   2,169.9

$   1,846.0

17.5 %

Long-term inflows

181.1

202.1

(10.4 %)

138.4

545.2

379.1

43.8 %

Long-term outflows

(146.0)

(157.0)

(7.0 %)

(109.5)

(443.2)

(317.0)

39.8 %

Net long-term flows

35.1

45.1

(22.2 %)

28.9

102.0

62.1

64.3 %

Net flows in non-management fee earning
AUM ^(a)

0.5

0.7

(28.6 %)

2.6

1.2

10.4

(88.5 %)

Net flows in money market funds

52.9

16.9

213.0 %

(5.4)

81.3

1.4

5,707.1 %

Total net flows

88.5

62.7

41.1 %

26.1

184.5

73.9

149.7 %

Reinvested distributions

0.9

1.6

(43.8 %)

1.0

3.4

3.0

13.3 %

Market gains and losses

(26.4)

256.8

N/A

99.0

187.9

183.2

2.6 %

Dispositions ^(b)

—

(11.0)

N/A

—

(11.0)

—

N/A

Foreign currency translation

4.5

0.7

542.9 %

(2.7)

3.1

18.7

(83.4 %)

Ending Assets

$   2,537.8

$   2,470.3

2.7 %

$   2,124.8

$   2,537.8

$   2,124.8

19.4 %

Ending long-term AUM

$   2,226.4

$   2,212.6

0.6 %

$   1,510.3

$   2,226.4

$   1,510.3

47.4 %

Average long-term AUM

$   2,216.5

$   2,124.4

4.3 %

$   1,462.0

$   2,108.5

$   1,377.5

53.1 %

Average AUM

$   2,510.2

$   2,368.8

6.0 %

$   2,060.4

$   2,366.0

$   1,946.2

21.6 %

Average QQQ AUM

$      480.3

$      452.3

6.2 %

$      365.1

$      443.7

$      334.8

32.5 %

Three months ended September 30, 2026

By channel: (in billions)

Retail

Institutional

Retail

Institutional

Beginning Assets

$            1,766.3

$              704.0

$            1,515.7

$             654.2

Long-term inflows

142.2

38.9

410.9

134.3

Long-term outflows

(100.5)

(45.5)

(307.2)

(136.0)

Net long-term flows

41.7

(6.6)

103.7

(1.7)

Net flows in non-management fee earning AUM ^(a)

(0.1)

0.6

(0.2)

1.4

Net flows in money market funds

4.2

48.7

8.5

72.8

Total net flows

45.8

42.7

112.0

72.5

Reinvested distributions

0.9

—

3.4

—

Market gains and losses

(21.6)

(4.8)

171.3

16.6

Dispositions ^(b)

—

—

(9.9)

(1.1)

Foreign currency translation

2.0

2.5

0.9

2.2

Ending Assets

$            1,793.4

$              744.4

$            1,793.4

$             744.4

Three months ended September 30, 2026

By client domicile: (in billions)

Americas

Asia Pacific

EMEA

Americas

Asia Pacific

EMEA

Beginning Assets

$    1,707.6

$      366.5

$      396.2

$    1,492.4

$      321.0

$     356.5

Long-term inflows

87.7

57.8

35.6

261.4

182.9

100.9

Long-term outflows

(77.4)

(48.9)

(19.7)

(219.3)

(152.6)

(71.3)

Net long-term flows

10.3

8.9

15.9

42.1

30.3

29.6

Net flows in non-management fee earning AUM ^(a)

0.7

(0.2)

—

1.4

(0.2)

—

Net flows in money market funds

47.0

5.9

—

71.2

9.4

0.7

Total net flows

58.0

14.6

15.9

114.7

39.5

30.3

Reinvested distributions

0.8

—

0.1

3.2

—

0.2

Market gains and losses

(18.0)

(10.6)

2.2

149.9

8.0

30.0

Dispositions ^(b)

—

—

—

(11.0)

—

—

Foreign currency translation

—

4.9

(0.4)

(0.8)

6.9

(3.0)

Ending Assets

$    1,748.4

$      375.4

$      414.0

$    1,748.4

$      375.4

$     414.0

 See the footnotes immediately following these tables.

Invesco Ltd.

Assets Under Management (continued)

Three months ended September 30, 2026

By investment capability ^(c):
(in billions)

ETFs and
Index ^(d) 

Fundamental
Fixed Income
^(e)

Fundamental
Equities ^(f)

Private
Markets 
^(g)

China JV
^(h)

Multi-
Asset/Other ⁽ⁱ⁾

Global
Liquidity 
^(j)

QQQ ^(k)

Beginning Assets

$    753.5

$        315.5

$       318.1

$  135.5

$    163.2

$      79.9

$   214.5

$ 490.1

Long-term inflows

69.3

17.6

13.5

5.2

37.8

7.2

—

30.5

Long-term outflows

(40.8)

(20.2)

(15.4)

(5.6)

(36.3)

(3.9)

—

(23.8)

Net long-term flows

28.5

(2.6)

(1.9)

(0.4)

1.5

3.3

—

6.7

Net flows in non-management
fee earning AUM ^(a)

—

—

—

—

—

0.5

—

—

Net flows in money market funds

—

—

—

—

5.9

—

47.0

—

Total net flows

28.5

(2.6)

(1.9)

(0.4)

7.4

3.8

47.0

6.7

Reinvested distributions

—

0.5

0.2

0.1

—

—

0.1

—

Market gains and losses

(7.5)

(6.8)

(8.4)

(0.3)

(6.3)

0.8

—

2.1

Foreign currency translation

0.1

1.3

1.1

—

2.0

—

—

—

Ending Assets

$    774.6

$        307.9

$       309.1

$  134.9

$    166.3

$      84.5

$   261.6

$ 498.9

Average AUM

$    770.3

$        314.5

$       314.6

$  135.8

$    164.3

$      83.5

$   246.8

$ 480.4

Nine months ended September 30, 2026

By investment capability ^(c):
(in billions)

ETFs and
Index ^(d) 

Fundamental
Fixed Income
^(e)

Fundamental
Equities ^(f)

Private
Markets 
^(g)

China JV
^(h)

Multi-
Asset/Other ⁽ⁱ⁾

Global
Liquidity 
^(j)

QQQ ^(k)

Beginning Assets

$    630.2

$        311.5

$       298.4

$  130.7

$    132.5

$      69.7

$   189.7

$ 407.2

Long-term inflows

199.3

59.4

42.5

18.3

135.4

20.5

—

69.8

Long-term outflows

(122.1)

(57.9)

(54.5)

(16.4)

(118.3)

(13.9)

—

(60.1)

Net long-term flows

77.2

1.5

(12.0)

1.9

17.1

6.6

—

9.7

Net flows in non-management
fee earning AUM ^(a)

—

—

—

—

—

1.2

—

—

Net flows in money market funds

—

—

—

—

9.5

—

71.8

—

Total net flows

77.2

1.5

(12.0)

1.9

26.6

7.8

71.8

9.7

Reinvested distributions

—

1.5

1.2

0.3

—

0.1

0.3

—

Market gains and losses

73.9

(5.9)

26.0

2.6

1.0

8.4

(0.1)

82.0

Dispositions ^(b)

(6.7)

—

(3.6)

—

—

(0.7)

—

—

Foreign currency translation

—

(0.7)

(0.9)

(0.6)

6.2

(0.8)

(0.1)

—

Ending Assets

$    774.6

$        307.9

$       309.1

$  134.9

$    166.3

$      84.5

$   261.6

$ 498.9

Average AUM

$    715.0

$        314.4

$       309.9

$  134.1

$    154.0

$      78.9

$   216.0

$ 443.7

Invesco Ltd.

Footnotes to the Assets Under Management Tables

^(a)

Non-management fee earning AUM includes non-management fee earning UIT and product leverage. For the nine months ended September 30, 2025, non-management fee earning AUM include QQQ’s flows.

^(b)

Sale of the management agreements associated with Invesco’s Canadian fund business to CI Global Asset Management on June 1, 2026 decreased AUM by $11.0 billion.

^(c)

Investment capabilities are descriptive groupings of AUM by investment strategy.

^(d)

ETFs and Index includes ETFs and Indexed Strategies and excludes Invesco QQQ.

^(e)

Fundamental Fixed Income includes Fixed Income products, including certain ETFs managed within this capability.

^(f)

Fundamental Equities includes Equity products.

^(g)

Private Markets includes Private Credit and Real Estate investments comprised primarily of Real Estate, CLOs, Private Credit and listed real assets, including certain ETFs managed within this capability.

^(h)

China JV includes AUM managed by Invesco Great Wall.

⁽ⁱ⁾

Multi-Asset/Other includes Global Asset Allocation, Invesco Quantitative Strategies, Global Targeted Returns, Solutions, UITs, including certain ETFs managed within this capability.

^(j)

Global Liquidity is comprised mainly of Money Market funds.

^(k)

QQQ includes only Invesco QQQ Trust.

Invesco Ltd.

Supplemental Information ⁽¹⁾

For the three months ended

September 30, 2026

For the three months ended

September 30, 2025

Cash flow information

(in millions)

U.S. GAAP

Impact of
CIP

Excluding
CIP

U.S. GAAP

Impact of
CIP

Excluding
CIP

Invesco and CIP cash and cash equivalents,

beginning of period

$   1,610.3

$    (694.9)

$       915.4

$   1,491.9

$    (569.2)

$      922.7

Cash flows from operating activities

475.0

179.6

654.6

606.2

(20.7)

585.5

Cash flows from investing activities

292.8

(344.3)

(51.5)

(254.8)

158.0

(96.8)

Cash flows from financing activities

(635.1)

81.7

(553.4)

(310.1)

(118.5)

(428.6)

Increase/(decrease) in cash and cash equivalents

132.7

(83.0)

49.7

41.3

18.8

60.1

Foreign exchange movement on cash and cash

equivalents

(4.7)

5.1

0.4

(9.4)

(0.3)

(9.7)

Cash and cash equivalents, end of the period

$   1,738.3

$    (772.8)

$       965.5

$   1,523.8

$    (550.7)

$      973.1

For the nine months ended

September 30, 2026

For the nine months ended

September 30, 2025

Cash flow information

(in millions)

U.S. GAAP

Impact of
CIP

Excluding
CIP

U.S. GAAP

Impact of
CIP

Excluding
CIP

Invesco and CIP cash and cash equivalents,

beginning of period

$   1,979.8

$    (942.3)

$     1,037.5

$   1,496.0

$    (509.5)

$      986.5

Cash flows from operating activities

1,421.8

(194.7)

1,227.1

1,069.5

(117.5)

952.0

Cash flows from investing activities

(1,145.9)

1,004.6

(141.3)

(622.2)

565.1

(57.1)

Cash flows from financing activities

(484.4)

(657.6)

(1,142.0)

(505.6)

(452.4)

(958.0)

Increase/(decrease) in cash and cash equivalents

(208.5)

152.3

(56.2)

(58.3)

(4.8)

(63.1)

Foreign exchange movement on cash and cash

equivalents

(33.0)

17.2

(15.8)

86.1

(36.4)

49.7

Cash and cash equivalents, end of the period

$   1,738.3

$    (772.8)

$       965.5

$   1,523.8

$    (550.7)

$      973.1

⁽¹⁾

These tables include non-GAAP presentations. Cash held by CIP is not available for use by Invesco. Additionally, there is no recourse to Invesco for CIP debt. The cash flows of CIP do not form part of the company’s cash flow management processes, nor do they form part of the company’s significant liquidity evaluations and decisions.

Invesco Ltd.

Supplemental Information ⁽¹⁾

September 30, 2026

December 31, 2025

Balance Sheet information

(in millions)

U.S. GAAP

Impact of
CIP

Excluding
CIP

U.S. GAAP

Impact of
CIP

Excluding
CIP

ASSETS

Cash and cash equivalents

$      965.5

$            —

$        965.5

$   1,037.5

$           —

$     1,037.5

Investments

1,366.1

584.4

1,950.5

1,381.1

397.1

1,778.2

Goodwill and intangible assets, net

12,295.3

—

12,295.3

12,404.4

—

12,404.4

Other assets ⁽²⁾

2,323.2

9.4

2,332.6

2,121.2

11.2

2,132.4

Investments and other assets of CIP ⁽³⁾

10,695.4

(10,695.4)

—

10,149.8

(10,149.8)

—

Total assets

$ 27,645.5

$ (10,101.6)

$   17,543.9

$ 27,094.0

$  (9,741.5)

$   17,352.5

LIABILITIES

Debt

$   1,281.3

$            —

$     1,281.3

$   1,825.1

$           —

$     1,825.1

Other Liabilities ⁽⁴⁾

3,632.7

—

3,632.7

3,296.4

—

3,296.4

Debt and other liabilities of CIP

9,103.0

(9,103.0)

—

8,967.6

(8,967.6)

—

Total liabilities

$ 14,017.0

$   (9,103.0)

$     4,914.0

$ 14,089.1

$  (8,967.6)

$     5,121.5

EQUITY

Total equity attributable to Invesco Ltd.

$ 12,629.9

$            —

$   12,629.9

$ 12,231.0

$           —

$   12,231.0

Noncontrolling interests ⁽⁵⁾

998.6

(998.6)

—

773.9

(773.9)

—

Total equity

13,628.5

(998.6)

12,629.9

13,004.9

(773.9)

12,231.0

Total liabilities and equity

$ 27,645.5

$ (10,101.6)

$   17,543.9

$ 27,094.0

$  (9,741.5)

$   17,352.5

⁽¹⁾

This table includes non-GAAP presentations. Assets of CIP are not available for use by Invesco. Additionally, there is no recourse to Invesco for CIP debt.

⁽²⁾

Amounts include Accounts receivable, Property, equipment and software, and Other assets.

⁽³⁾

Amounts include Cash and cash equivalents of CIP.

⁽⁴⁾

Amounts include Accrued compensation and benefits, Accounts payable and accrued expenses, and Deferred tax liabilities.

⁽⁵⁾

Amounts include Redeemable noncontrolling interests in consolidated entities and Equity attributable to nonredeemable noncontrolling interests in consolidated entities.