In the normal course of its business, the company is primarily exposed to market risk in the form of AUM market price risk, securities market risk, interest rate risk and foreign exchange rate risk. There have not been any material changes to the company’s exposures to market risks during the period ended June 30, 2026 that would require an update to the disclosures provided in the most recent Form 10-K. AUM Market Price Risk The company’s investment management revenues are comprised of fees based on the value of AUM. Declines in the market prices of equity and fixed income securities, commodities and derivatives, or other similar financial instruments held in client portfolios could cause revenues to decline because of lower investment management fees by: •Causing the value of AUM to decrease. •Causing the returns realized on AUM to decrease (impacting performance fees). •Causing clients to withdraw funds in favor of investments in markets that they perceive to offer greater opportunity and that the company does not serve. •Causing clients to rebalance assets away from investments that the company manages into investments that the company does not manage. •Causing clients to reallocate assets away from products that earn higher revenues into products that earn lower revenues. Underperformance of client accounts relative to competing products could exacerbate these factors. Assuming the revenue yield on AUM for the year remains unchanged, a decline in the average AUM for the year would result in a corresponding decline in revenue. Certain expenses, including distribution and compensation expenses, may not vary in proportion with the changes in the market value of AUM. As such, the impact on operating margin or net income of a decline in the market values of AUM may be greater than the percentage decline in the market value of AUM. Securities Market Risk The company has investments in managed investment products that invest in a variety of asset classes. Investments are generally made to establish a track record for a new fund or investment vehicle or to hedge economically exposure to certain deferred compensation plans. The company’s exposure to market risk from financial instruments measured at fair value arises primarily from its investments. Interest Rate Risk Interest rate risk relates to the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The company is exposed to interest rate risk primarily through its Debt and Cash and cash equivalent investments. See Item 1, Financial Statements - Note 4, “Debt,” for details of the company’s debt arrangements. As of June 30, 2026, the interest rates on 24.1% of the company’s borrowings were fixed for a weighted average period of 17.43 years, and the company had a $736.0 million balance on its Revolving Credit Agreement. Foreign Exchange Rate Risk The net assets and financial results of the company’s foreign operations are exposed to foreign currency translation risk when translated into U.S. Dollars upon consolidation into Invesco. The company is also exposed to foreign currency translation risk on monetary assets and liabilities that are held by subsidiaries in different functional currencies than the subsidiaries’ functional currencies. Net foreign exchange revaluation gains were $4.0 million during the six months ended June 30, 2026 (six months ended June 30, 2025: $10.3 million of revaluation losses) and are included in General and administrative expenses and Other gains/(losses), net on the Condensed Consolidated Statements of Income. 46 Table of Contents