Slide 1: Third Quarter 2025 Results
Third Quarter 2025 Results Andrew Schlossberg President and Chief Executive Officer Allison Dukes Chief Financial Officer October 28, 2025
Slide 2: Forward-Looking Statements and Important Information
Forward-Looking Statements and Important Information This presentation and comments made in the associated SEC’s website at www.sec.gov. We expressly disclaim any conference call today may include “forward-looking statements.” obligation to update the information in any public disclosure if any Forw
Slide 3: Disciplined Focus on Improving Operating Leverage and Profitable Growth
Disciplined Focus on Improving Operating Leverage and Profitable Growth With a Stronger Balance Sheet and Enhanced Capital Returns Focusing Efforts Unlocking Value Improving Performance Strengthening • Strong balance sheet with improved leverage ratio Management Improving Balance Sheet Flexibility;
Slide 4: Third Quarter 2025 Business Highlights
Third Quarter 2025 Business Highlights Investment Capabilities Investment Capability* Ending AUM Net LT Flows Highlights Among the best performing quarters with annualized organic growth of 15%, continued market share gains, and record setting inflows for the quarter’s top performers including: QQQM
Slide 5: Investment Performance
Investment Performance Fundamental Equities Fundamental Fixed Income 37% 54% 33% 12% 45% 34% 64% 65% 52% 48% 48% 40% 42% 39% 30% 21% 23% 13% 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr Multi-Asset Overall 22% 23% 17% 28% 13% 10% 79% 81% 70% 69% 61% 62% 51% 45% 43% 39% 37% 36% 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr AUM abo
Slide 6: Financial Highlights
Financial Highlights • Net Long-Term inflows of $28.9 billion or 7.9% annualized organic growth in the third quarter of 2025 ‒ Record Ending AUM of $2.1 trillion ‒ Ending Long-Term AUM grew 16% over the third quarter of 2024 • Net revenues increased 7.4% and expenses remained well-managed with a 3.3
Slide 7: Significant AUM Growth; Capturing Flows as Client Demand Shifts
Significant AUM Growth; Capturing Flows as Client Demand Shifts and Impacts Asset Mix Average AUM, $B | Net Revenue Yield (NRY)* Current NRY 3Q’25 NRY Drivers Trends10 Post OFI Current Trends Acquisition $2,060.4 22.9 bps 3% 37–40 bps • Secular shifts in client demand have $1,880.8 $1,897.4 Multi-As
Slide 8: Revenues and Expenses
Revenues and Expenses (in millions) Net Revenues Adjusted Operating Expenses +3.3% +7.4% $36 $3 ($10) $40 $6 $0 ($66) ($5) $780 $102 Q3’24 vs Q3’25 $1,186 $756 $1,104 $82 million increase $24 million increase Q3 2024 Investment Service & Performance Other Third-party1 Q3 2025 Q3 2024 Employee Market
Slide 9: Capital Management
Capital Management (in millions, except ratio information) Capital Returned to Shareholders Leverage Ratio2 $179 $177 $177 $177 $164 $25 $25 $25 $25 $25 $59 $59 $59 $57 $44 2.88x 2.83x 2.77x 2.70x 2.50x $95 $93 $93 $95 $95 0.83x 0.63x 0.26x 0.25x 0.30x Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Q3’24 Q4’24 Q1’25
Slide 10: Appendix
Appendix 4 Invesco
Slide 11: Diversification
Diversification By Client Domicile By Channel By Investment Capability 3% 6% 6% 29% 15% 9% 69% 70% 30% 16% 14% 18% 15% 1-Yr 1-Yr 1-Yr (billions) Change (billions) Change (billions) Change Americas $1,466.4 15.0 % Retail $1,477.9 20.4 % ETFs & Index $605.7 32.1 % Asia Pac $320.0 20.0 % Institutional
Slide 12: Net Long-Term Flows
Solid Growth With Ample Opportunity 1 Q3'24 Q2'25 Q3'25 % of Total Firm AUM Annualized Long-Term Org. Grow th Geography Investment Approach Channel 71% 70% 69% 15% 15% 15% 14% 15% 16% 57% 54% 53% 43% 46% 47% 68% 68% 70% 32% 32% 30% $1,397 $1,466 $1,478 $1,088 $1,117 $1,371 $1,275 $1,032 $1,008 $914
Slide 13: Net Long-Term Flows
Solid Growth With Ample Opportunity 1 Q3'24 Q2'25 Q3'25 % of Total Firm AUM Annualized Long-Term Org. Grow th Investment Capability 26% 27% 29% 16% 15% 15% 16% 14% 14% 6% 6% 6% 7% 7% 6% 4% 3% 3% 9% 10% 9% 16% 18% 18% $606 $547 $459 $386 $353 AUM $309 $288 $302 $289 $288 $300 $295 $196 $190 $166 $104
Slide 14: Key Market Indices
Key Market Indices % Change % Change Spot 9/30/25 vs. Average Q3 2025 vs. Equity Indices 9/30/2024 6/30/2025 9/30/2025 9/30/2024 6/30/2025 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Q2 2025 Equity Indices Domestic S&P 500 (SPX) 5,762 6,205 6,688 16% 8% 5,543 5,730 6,428 16% 12% S&P 500 Equal-Weight (SPW) 7,269
Slide 15: US GAAP and Non-GAAP operating results Q3-25 vs. Q2-25
US GAAP and Non-GAAP operating results Q3-25 vs. Q2-25 US GAAP Basis Non-GAAP Basis (in millions) Q3-25 Q2-25 % Change (1) (in millions) Q3-25 Q2-25 % Change (1) Investment management fees $1,184.7 $1,100.9 7.6% Investment management fees $1,321.3 $1,222.4 8.1% Service and distribution fees 400.7 36
Slide 16: Reconciliation of US GAAP results to Non-GAAP results, Three months ended September 30, 2025
Reconciliation of US GAAP results to Non-GAAP results Three months ended September 30, 2025 Please refer to pages 8-11 in the 3Q 2025 earnings press release for a description of the adjustments 3rd party distribution, Market appreciation / Consolidated Other non- Consolidation of service and advisor
Slide 17: Reconciliation of US GAAP results to Non-GAAP results, Three months ended June 30, 2025
Reconciliation of US GAAP results to Non-GAAP results Three months ended June 30, 2025 Please refer to pages 7-10 in the 2Q 2025 earnings press release for a description of the adjustments 3rd party distribution, Market appreciation / Consolidated Other non- Consolidation of service and advisory Amo
Slide 18: Reconciliation of US GAAP results to Non-GAAP results
Reconciliation of US GAAP results to Non-GAAP results (in millions) Q3'23 Q4'23 Q1’24 Q2'24 Q3'24 Q4'24 Q1’25 Q2'25 Q3’25 Operating revenues $1,442.0 $1,413.4 $1,475.3 $1,483.3 $1,515.4 $1,593.0 $1,529.2 $1,515.5 $1,640.4 Non-GAAP adjustments (343.8) (367.5) (422.1) (397.5) (411.1) (435.8) (420.5) (
Slide 19: Footnote Disclosures
Footnote Disclosures Footnotes for Slide 4, Third quarter 2025 business highlights Non-GAAP financial measures – For the reconciliations from US GAAP to non-GAAP measures, see the Appendix to this presentation and the non-GAAP Information and Reconciliations section of the current earnings release.
Slide 20: Footnote Disclosures (continued)
Footnote Disclosures (continued) Leverage ratio including preferred stock is adjusted debt, as defined in the credit agreement, plus the preferred stock balance of $3,010.5 million as of Q3 2025 ($3,010.5 million as of Q2 2025, $4,010.5 million as of Q1 2025), divided by covenant adjusted EBITDA. Th