Slide 1: First Quarter 2025 Results
First Quarter 2025 Results Andrew Schlossberg President and Chief Executive Officer Allison Dukes Chief Financial Officer April 22, 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: Advantageous Position + Winning Strategic Focus = Enhanced Operating Performance
Advantageous Position + Winning Strategic Focus = Enhanced Operating Performance We have an advantageous position globally as a diversified, client-centric asset manager and a strategy to deliver for our shareholders Advantageous Market Position Winning Strategic Focus Key Performance Drivers • Glob
Slide 4: First Quarter 2025 Business Highlights
First Quarter 2025 Business Highlights Investment Capabilities Investment Capability* Ending AUM Net LT Flows Highlights Another strong quarter with annualized organic growth of +13% and continued market share 1 gains. QQQM continued to be a top flowing fund and BulletShares gained an aggregate $2.3
Slide 5: Solid Growth With Ample Opportunity: Net Long-Term Flows
Solid Growth With Ample Opportunity 1 Q1'24 Q4'24 Q1'25 % of Total Firm AUM Annualized Long-Term Org. Grow th Geography Investment Approach Channel 72% 71% 70% 14% 15% 15% 14% 14% 15% 60% 56% 56% 40% 44% 44% 67% 69% 67% 33% 31% 33% $1,316 $1,294 $1,200 $996 $1,027 $1,041 $1,266 $1,237 $1,117 $820 $8
Slide 6: Investment Performance
Investment Performance Fundamental Equities Fundamental Fixed Income 44% 25% 13% 21% 20% 58% 59% 62% 19% 47% 42% 39% 41% 37% 35% 37% 27% 18% 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr Multi-Asset Overall 20% 19% 16% 10% 15% 82% 14% 67% 64% 67% 69% 56% 51% 49% 48% 43% 42% 35% 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr AUM abo
Slide 7: Invesco, MassMutual and Barings Partner to Accelerate Growth in US Private Wealth Market
Invesco, MassMutual and Barings Partner to Accelerate Growth in US Private Wealth Market Deliver sophisticated private credit and income solutions with support of MassMutual seed investment $1.8 trillion global platform across public and private assets, and multi-asset Unique blend of Invesco and Ba
Slide 8: $1 Billion Repurchase of Invesco Preferred Stock
$1 Billion Repurchase of Invesco Preferred Stock Repurchase of $1 billion (25%) of preferred stock outstanding; the all-cash repurchase is expected to be executed in May and financed with committed bank term loans ($500 million 3-year tenor and $500 million 5-year tenor) • Replaces non tax-deductibl
Slide 9: $1 Billion Repurchase of Invesco Preferred Stock
$1 Billion Repurchase of Invesco Preferred Stock Earnings accretive, ultimately contributing run-rate EPS improvement of $0.13 while reducing leverage and improving balance sheet flexibility Earnings Per Share Accretion Leverage Ratios Pro Forma* 3.48x 2.83x 2.62x 2.44x 2.18x 1.85x 1.78x 0.69x 0.77x
Slide 10: First Quarter 2025 Financial Highlights
First Quarter 2025 Financial Highlights • Net Long-Term inflows of $17.6 billion or 5.3% annualized organic growth ‒ Ending Long-Term AUM grew 9% over first quarter of 2024 • Demonstrated expense discipline with expenses relatively unchanged from the first quarter of 2024 and down 1% quarter over qu
Slide 11: Significant AUM Growth; Capturing Flows as Client Demand Shifts and Impacts Asset Mix
Significant AUM Growth; Capturing Flows as Client Demand Shifts and Impacts Asset Mix Average AUM, $B | Net Revenue Yield (NRY)* Current NRY 1Q’25 NRY Drivers Trends10 Post OFI Current Trends Acquisition $1,880.8 $1,824.4 23.5 bps 24.6 bps 3% 38–41 bps • Secular shifts in client demand have $1,742.0
Slide 12: Revenues and Expenses
Revenues and Expenses (in millions) Net Revenues Adjusted Operating Expenses +5.3% +0.3% $6 ($7) $13 $0 ($4) $59 ($6) $3 $1,109 ($7) Q1’24 vs Q1’25 $759 $757 $1,053 $55 million increase $2 million increase Q1 2024 Investment Service & Performance Other Third-party1 Q1 2025 Q1 2024 Employee Marketing
Slide 13: Capital Management
Capital Management (in millions, except ratio information) Capital Returned to Shareholders Leverage Ratio2 $179 $177 $177 $149 $152 $25 $25 $25 3.36x $59 $59 $59 $59 $59 3.01x 2.88x 2.83x 2.77x $90 $93 $95 $93 $93 0.54x 0.30x 0.28x 0.26x 0.25x Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q1’24 Q2’24 Q3’24 Q4’24 Q
Slide 14: Appendix
Appendix 4 Invesco 14
Slide 15: Diversification
Diversification By Client Domicile By Channel By Investment Capability 3% 6% 27% 7% 15% 11% 70% 67% 33% 15% 16% 14% 16% 1-Yr 1-Yr 1-Yr (billions) Change (billions) Change (billions) Change Americas $1,293.6 7.8 % Retail $1,237.2 10.8 % ETFs & Index $491.0 23.0 % Asia Pac $275.5 16.0 % Institutional
Slide 16: Solid Growth With Ample Opportunity: Net Long-Term Flows
Solid Growth With Ample Opportunity Investment Capability 24% 26% 27% 16% 15% 16% 17% 15% 14% 8% 7% 7% 6% 6% 6% 4% 3% 3% 10% 10% 11% 16% 17% 16% $485 $491 $399 $319 $292 $286 $277 $297 AUM $270 $279 $263 $259 $191 $200 $167 $128 $130 $131 $111 $93 $106 $61 $59 $59 ETFs and Index Fundamental Fundamen
Slide 17: Investment Capability Historical Performance
Investment Capability Historical Performance Investment Capabilities Investment Capability* Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1’25 Net LT Flows $5.1 $5.2 $12.6 $10.8 $11.2 $12.9 $17.6 $29.5 $16.3 ETFs & Index Ending AUM $302.1 $318.6 $318.8 $363.0 $399.2 $416.0 $458.6 $484.9 $491.0 Av
Slide 18: Key Market Indices
Key Market Indices % Change % Change Spot 3/31/25 vs. Average Q1 2025 vs. Equity Indices 3/31/2024 12/31/2024 3/31/2025 3/31/2024 12/31/2024 Q1 2024 Q4 2024 Q1 2025 Q1 2024 Q4 2024 Equity Indices Domestic S&P 500 (SPX) 5,254 5,882 5,612 7% -5% 4,989 5,905 5,895 18% 0% S&P 500 Equal-Weight (SPW) 6,87
Slide 19: US GAAP and Non-GAAP operating results Q1-25 vs. Q4-24
US GAAP and Non-GAAP operating results Q1-25 vs. Q4-24 US GAAP Basis Non-GAAP Basis (in millions) Q1-25 Q4-24 % Change (1) Q1-25 Q4-24 % Change (1) Investment management fees $1,100.3 $1,127.3 (2.4)% Investment management fees $1,219.3 $1,249.1 (2.4)% Service and distribution fees 370.9 380.8 (2.6)%
Slide 20: Reconciliation of US GAAP results to Non-GAAP results: Three months ended March 31, 2025
Reconciliation of US GAAP results to Non-GAAP results Three months ended March 31, 2025 Please refer to pages 7-10 in the 1Q 2025 earnings press release for a description of the adjustments 3rd party distribution, Market appreciation / Consolidated Consolidation of service and advisory Amortization
Slide 21: Reconciliation of US GAAP results to Non-GAAP results: Three months ended December 31, 2024
Reconciliation of US GAAP results to Non-GAAP results Three months ended December 31, 2024 Please refer to pages 9-12 in the 4Q 2024 earnings press release for a description of the adjustments 3rd party distribution, Market appreciation / Consolidated Consolidation of service and advisory Amortizati
Slide 22: Reconciliation of US GAAP results to Non-GAAP results
Reconciliation of US GAAP results to Non-GAAP results (in millions) Q1'23 Q2'23 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Operating revenues $1,418.2 $1,442.8 $1,442.0 $1,413.4 $1,475.3 $1,483.3 $1,515.4 $1,593.0 $1,529.2 Non-GAAP adjustments (342.3) (352.1) (343.8) (367.5) (422.1) (397.5) (411.1) (
Slide 23: Footnote Disclosures
Footnote Disclosures Footnotes for Slide 4 & Slide 17, First quarter 2025 business highlights and Investment Capability Historical Performance 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 a
Slide 24: Footnote Disclosures (continued)
Footnote Disclosures (continued) Footnotes for Slide 13, Capital management 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. Additio