This marketing communication is for consumer use in the UK only. Investors should read the legal documents prior to investing. As of 31 January 2025 Invesco Variable Rate Preferred Shares UCITS ETF Acc VPAC Fund objective Investment risks The Invesco Variable Rate Preferred Shares UCITS ETF For complete information on risks, refer to the legal documents. The value of investments will fluctuate and you may not get back Acc aims to track the net total return performance of the ICEthe full amount invested. The creditworthiness of the debt the Fund is exposed to may weaken and result in fluctuations in the Diversified Variable Rate Preferred & Hybrid Securities value of the Fund. There is no guarantee the issuers of debt will repay the interest and capital on the redemption date. The risk is Index, less fees.higher when the Fund is exposed to high yield debt securities. Changes in interest rates will result in fluctuations in the value of the fund. The Fund may be exposed to the risk of the borrower defaulting on its obligation to return the securities at the end of the loan An investment in this fund is an acquisition of units in a period and of being unable to sell the collateral provided to it if the borrower defaults. The Fund might be concentrated in a specific passively managed, index tracking fund rather than inregion, sector or a limited number of positions, causing greater value fluctuations than for a more diversified fund. The value of the underlying assets owned by the fund. equities can be affected by certain factors such as issuer’s circumstances or economic and market conditions. This may result in value fluctuations. ETF information About the index Fund launch date03 October 2018 The ICE Diversified Variable Rate Preferred & Hybrid Securities Index is designed to track the performance of floating and variable Share class launch date 07 December 2018rate investment grade and sub-investment grade U.S. dollar-denominated preferred and hybrid securities (debt securities with Ongoing charge 1 0.50% p.a. equity features) publicly issued by corporations in the U.S. domestic market. Index constituents are market capitalisation weighted Fund base currency USD subject to a 10% issuer cap. Securities must have a par value of $25 or $1000, securities with a $1000 par value must be rated by Share class currency USD at least one of Moody’s, S&P or Fitch and those rated below investment grade based on an average of available ratings must also Currency hedgedNohave a country of risk associated with a developed markets country. The Fund and the Index are rebalanced and reconstituted on Index ICE Diversified Variable Rates a monthly basis.” Preferred & Hybrid Securities 4PM Past performance does not predict future returns.Mid Index Index currency USD Indexed performance, % growth since inception Replication method Physical  Invesco Variable Rate Preferred Shares UCITS ETF Acc UCITS compliant Yes  ICE Diversified Variable Rates Preferred & Hybrid Securities 4PM Mid Index Umbrella fund Invesco Markets II plc 45 Investment managerInvesco Capital Management LLC Domicile Ireland UK reporting status Yes 30 ISA eligible Yes SIPP eligible Yes Dividend treatment Accumulating15 ISIN codeIE00BHJYDT11 SEDOL BGKF2J9 Bloomberg ticker VPAC LN Fund size USD 18.65m 0 NAV per shareUSD 55.06 Shares in issue 138,639 SFDR classification Article 6-15 Dec-18 Nov-19 Sep-20Aug-21 Jun-22 May-23 Mar-24Jan-25 Cumulative performance as at 31 January 2025 (%) 1 Ongoing charge includes management fee, custody and 1Y 3Y5Y 10Y Fund inception administration costs but excludes transaction costs. Costs ETF 8.8011.51 17.53 - 37.65 may increase or decrease as result of currency and Index7.87 9.26 13.77 - 31.85 exchange rate fluctuations. Consult the legal documents for Calendar year performance (%) further information on costs. 2024 2023 2022 2021 20202019 2018 20172016 2015 ETF 10.49 9.16-9.82 3.64 5.07 16.85 - - - - Index 9.54 8.62 -10.38 3.17 3.92 16.53 - - - - Standardised rolling 12 month performance (%) 01.24 01.2301.22 01.21 01.20 01.19 01.18 01.17 01.16 01.15 01.25 01.2401.23 01.22 01.21 01.20 01.19 01.18 01.17 01.16 ETF 8.80 5.52-2.87 1.933.40 12.69 - - - - Index 7.87 4.79-3.34 1.392.70 11.98 - - - - Source: Invesco, Bloomberg L.P., FactSet. ETF performance shown is calculated with reference to the Net Asset Value, inclusive of net reinvested income and net of ongoing charges and portfolio transaction costs, in USD. The figures do not reflect the actual share price, the impact of the bid/offer spread or broker commissions. Returns may increase or decrease as a result of currency fluctuations. ETF NAV performance differs from that of the index due to the ongoing charges and portfolio transaction costs and due to the fact that the ETF does not necessarily always hold all the securities in the index in their respective weighting. This ETF does not charge an entry fee. Index performance is a blend of the reference indices. Since inception until 30 June 2021, the Fund was managed with reference to the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. From 30 June 2021, the Fund is managed with reference to the ICE Diversified Variable Rates Preferred & Hybrid Securities Total Return Index. Geographic allocation (%)Important information This marketing communication is for consumer use in the UK only. This document contains information that is for discussion purposes only. For information on our funds and the relevant risks, refer to the Key Information Documents/Key Investor Information Documents (local languages) and Prospectus (English, French, German), and the financial reports, available from www.invesco.eu. A summary of investor rights is available in English from www.invescomanagementcompany.ie. The management company may terminate marketing arrangements. This is marketing material and not financial advice. It is not intended as a recommendation to buy or sell any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. If investors are unsure if this product is suitable for them, they should seek advice from a financial adviser.  United States 85.7 Current tax levels and reliefs may change. Depending on individual circumstances, this may affect investment returns.  Canada 8.9 UCITS ETF’s units / shares purchased on the secondary market cannot usually be sold directly back to UCITS ETF. Investors must  United Kingdom 4.2 buy and sell units / shares on a secondary market with the assistance of an intermediary (e.g. a stockbroker) and may incur fees  Ireland 0.4 for doing so. In addition, investors may pay more than the current net asset value when buying units / shares and may receive less  Netherlands 0.4 than the current net asset value when selling them.  Bermuda 0.2 Source ICE Data Indices, LLC is used with permission. ICE® is a trademark of ICE Data or its affiliates. This trademark has been  Greece 0.1 licensed, along with the Reference Index for use by the Fund. The Reference Index is maintained and calculated by ICE Data and  Cayman Islands 0.1 ICE Data is the administrator of the Reference Index. ICE Data is not affiliated with the Fund or any of its affiliates. The Manager  Monaco 0.1 has entered into a license agreement with ICE Data to use the Reference Index. Neither the Manager nor the Fund is sponsored, Source: Invesco, as at 31 Jan 2025 endorsed, sold or promoted by ICE Data its affiliates or its third-party suppliers (“ICE Data and its Suppliers”). ICE Data and its Sector allocation (%)Suppliers make no representations or warranties regarding the Manager or the Fund or the advisability of investing in securities generally, in the Fund particularly, or the ability of the Reference Index to track general stock market performance. ICE Data’s only relationship to the Manager is the licensing of certain trademarks and trade names and the Reference Index or components thereof. The Reference Index is determined, composed and calculated by ICE Data without regard to the Manager or the Fund or its holders. ICE Data has no obligation to take the needs of the Manager or the holders of the Fund into consideration in determining, composing or calculating the Reference Index. ICE Data is not responsible for and has not participated in the determination of the timing of, prices of, or quantities of the Fund to be issued or in the determination or calculation of the equation by which the Fund is to be priced, sold, purchased, or redeemed. Except for certain custom index calculation services, all information provided by ICE Data is general in nature and not tailored to the needs of the Manager or any other person, entity or group of persons. ICE Data has no obligation or liability in connection with the administration, marketing, or trading of the Fund. ICE Data is not an investment advisor. Inclusion of a security within an index is not a recommendation by ICE Data to buy, sell, or hold such security, nor is it considered to be investment advice. ICE Data and its suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use,  Financial Institutions 67.0 including the reference index, index data and any information included in, related to, or derived therefrom (“index data”). ICE Data  Industrial 17.1 and its suppliers shall not be subject to any damages or liability with respect to the adequacy, accuracy, timeliness or  Utility 14.5 completeness of the underlying index and the index data, which are provided on an “as is” basis and your use is at your own risk.  Cash and/or Derivatives 1.3 For the full objectives and investment policy please consult the current prospectus.  Government Related 0.2 The ESG information is for illustrative purposes only. Providing this information is not indicative of how or whether ESG factors will Source: Invesco, as at 31 Jan 2025 be integrated into a fund. Unless otherwise stated in the legal offering documents ESG integration does not change a Fund’s Top exposures (%) (Total holdings: 292)investment objective or constrain the Fund’s investable universe. Name Weight This material has been communicated by Invesco Investment Management Limited, Ground Floor, 2 Cumberland Place, Fenian Wells Fargo & Co VAR 15/03/731.53Street, Dublin 2, Ireland. JPMorgan Chase & Co VAR 01/08/73 1.38 Glossary CITIGROUP CAPITAL XIII USD 25.0000 PFD 1.22 Benchmark:An index against which the ETF is measured, in terms of relative performance, risk and other useful comparisons. JPMorgan Chase & Co VAR 01/06/73 1.17 Charles Schwab Corp/The VAR 01/09/73 1.10Hedged: The intended result of reducing the portfolio's exposure to a specific risk, such as the risk of fluctuations between BP Capital Markets PLC VAR 22/12/73 1.08currency exchange rates ("currency hedging"). Goldman Sachs Group Inc/The VAR 10/11/73 1.05ISA: Individual Savings Account. A type of investment account in the UK in which the tax on income is lower than usual, and there Bank of America Corp VAR 15/09/731.02is no tax on profits made from an increase in the value of shares. CVS Health Corp VAR 10/03/55 1.01Physical Replication: Physical funds invest directly in constituents of the benchmark index. Citigroup Inc VAR 18/05/73 1.00 Preferred Securities: Preferred shares securities are hybrid securities with a preferred status within a company’s capital structure. Source: Invesco, as at 31 Jan 2025 They are technically equities but have certain characteristics that make them behave like bonds. Please see etf.invesco.com for ETP holdings information. SIPP: Self-Invested Pension Plan. A type of UK pension for which a person makes their own investment decisions. Holdings are subject to change. UCITS: Undertakings for Collective Investments in Transferable Securities. European regulatory framework for an investment vehicle that can be marketed across the European Union. UK Reporting Status: Indicates whether or not the fund has United Kingdom fund tax status, this can lead to a UK investor receiving favourable tax rates on any gain or disposal of holdings in the fund.