Key Investor InformationThis document provides you with key investor information about this fund. It is not marketing material. Theinformation is required by law to help you understand the nature and the risks of investing in this fund. You areadvised to read it so you can make an informed decision about whether to invest. Invesco US Municipal Bond UCITS ETF (the "Fund") A sub-fund of Invesco Markets II plc (the "Umbrella Fund") Dist (ISIN: IE00BNG70R26) (the "Share Class") The Fund is managed by Invesco Investment Management Limited, part of the Invesco Group. Objectives and Investment Policy The Fund is a passively-managed Exchange-Traded Fund ("ETF"), which aims achieve the total return performance of the ICE BofA US Taxable Municipal Securities Plus Index (the “Index”)1, less fees, expenses and transaction costs. To achieve the investment objective, the Fund will employ sampling techniques to select securities in the Index which may include but are not limited to index weighted average duration, industry sectors, country weights, liquidity and credit quality. The use of the sampling approach will result in the Fund holding a smaller number of securities than are in the underlying Index. The Fund's shares are listed on one or more Stock Exchange(s). Investors can buy or sell shares daily through an intermediary directly or on Stock Exchange(s) on which the shares are traded. In exceptional circumstances investors will be permitted to redeem their shares directly from Invesco Markets II plc in accordance with the redemption procedures set out in the prospectus, subject to any applicable laws and relevant charges. The Fund’s base currency is USD. Dividend Policy: This share class declares and distributes a dividend on a quarterly basis. Net Asset Value: This is calculated daily and the Fund is open for subscriptions and redemptions on each day the United States Federal Reserve System is open. Please refer to the prospectus for further information. The Index: The Index is designed to reflect the performance of US dollar denominated taxable municipal debt publicly issued by US states and territories, and their political subdivisions, in the US domestic market. To be eligible for inclusion in the Index, securities must: (i) have principal and interest denominated in USD; (ii) be subject to US federal taxes; iii) have at least 18 months to final maturity at the time of issuance; (iv) have at least one year remaining term to final maturity; (v) have a fixed coupon schedule (including zero coupon bonds); and (vi) have an investment grade rating (based on an average of Moody’s Investors Services, Inc. (“Moody’s”), S&P Global Ratings (“S&P”) and Fitch Ratings, Inc. (“Fitch”). To be eligible for inclusion in the Index, securities must comply with minimum amount outstanding criteria that varies based on the initial term to final maturity at time of issuance. index constituents are market capitalization weighted. The Index is rebalanced monthly. Risk and Reward Profile Other Risks ▪ General Investment Risk: The value of investments, and income from them, Lower Risk Higher Riskcan go down as well as up and you may not get back the full amount you invested. ▪ Credit Risk: The creditworthiness of the debt the Fund is exposed to may Typically lower rewards Typically higher rewards weaken and result in fluctuations in the 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 higher when the Fund is exposed to high yield1 2 3 4 5 6 7 debt securities. ▪ Interest Rates Risk: Changes in interest rates will result in fluctuations in the value of the fund. ▪ The Share Class is in risk category 4 due to the rises and falls of its price or▪ Country Concentration Risk: The Fund is invested in a particular simulated data in the past. geographical region, which might result in greater fluctuations in the value of ▪ As the Share Class' risk category has been calculated using historical data, it the Fund than for a fund with a broader geographical investment mandate. may not be a reliable indication of the Share Class' future risk profile. ▪ For more information on risks, please see the Fund prospectus under “Risk ▪ The risk category may change in the future and is not guaranteed. Factors”, which is available at etf.invesco.com (select your country and ▪ The lowest category does not mean a risk free investment. navigate to the Prospectus on the Documents section on the product page). 1 Investors should note that the Index is the intellectual property of the Index provider. The Fund is not sponsored or endorsed by the Index provider and a full disclaimer can be found in the Fund's prospectus. 1 (2) Charges The charges you pay are used to pay the costs of running the Fund, including the costs of marketing and distributing it. These charges reduce the potential growth of your investment. One-off charges taken before or after you invest *Currently, the Fund is not exercising its entitlement to apply entry and exit Entry charge None* charges. The ongoing charge is based on the fee paid to the Manager. The Manager is Exit charge None* responsible for discharging from its fee, costs attributable to the Investment Manager, Administrator, Depositary as well as the Operational Expenses incurred by the Fund. It excludes portfolio transaction costs except in the case of Charges taken from the Share Class over a yearan entry or exit charge paid by the Fund when buying or selling shares/units in Ongoing charge0.28% another fund. Because the Fund is an ETF, investors will typically only be able to buy or sell shares in the secondary market. Accordingly, investors may incur brokerage and Charges taken from the Share Class under certain specific / or transaction fees in connection with their dealings. Investors may also bear conditionsthe costs of "bid-ask" spreads; meaning the difference between the prices at which shares can be bought and sold. You should discuss these fees and costs Performance fee Nonewith your broker before you invest, as they may reduce the amount of your initial investment and the amount you receive on disposal. For more information on charges, please see the relevant charges section in the Fund supplement under “General Information Relating to the Fund”, which is available at etf.invesco.com (select your country and navigate to the Documents section on the product page). Past Performance% growth The Fund launched in 2021. 10 The Share Class launched in 2021.The base currency of the Fund is USD. 5Past performance of the Share Class is calculated in USD.Performance is calculated based on the net asset value of the Fund after 0deduction of ongoing charges and is inclusive of gross income reinvested. Any As this Share Class has no performance data for a entry/exit charges shown are excluded from the calculation. -5 complete calendar year, there is insufficient data toPast performance is not a guide to future performance. provide a useful indication of past performance. -10 -15 -20 -252020 2021 20222023 2024 Share Class -18.8 7.9 1.4 Index -18.1 8.2 1.4 Practical Information Fund Depositary: The Bank of New York Mellon SA/NV, Dublin Branch, Riverside Two, Sir John Rogerson's Quay, Dublin 2, D02 KV60, Ireland. Tax: This Fund is subject to the tax laws and regulations of Ireland. Depending on your home country of residence, this might have an impact on your investment. For further details, please speak to an adviser. Local taxes may have an impact on the personal tax of your investment in the Fund. Additional Information: The share prices are published in USD, on each business day. The prices are available from the administrator during normal business hours and on the following website etf.invesco.com. Find out more: Further information about the Fund can be obtained from the prospectus and latest annual report. This document is specific to the Invesco US Municipal Bond UCITS ETF. However, the prospectus and annual report are prepared for the umbrella fund, Invesco Markets II plc, of which Invesco US Municipal Bond UCITS ETF is a sub-fund. These documents are available free of charge. They can be obtained along with other information, such as share prices, at etf.invesco.com (select your country and navigate to the Documents section on the product page), by emailing investorqueries@invesco.com or by calling +353 1 439 8000. Details of the Manager's remuneration policy are available at www.invescomanagementcompany.ie and a paper copy is available to investors free of charge upon request. Pursuant to Irish law, the assets of this Fund are segregated from other sub-funds in the umbrella fund (i.e. the Fund’s assets may not be used to discharge the liabilities of other sub-funds of Invesco Markets II plc). In addition the assets of this Fund are held separately from the assets of other sub- funds. Subject to satisfying certain criteria as set out in the prospectus, investors may be able to exchange their investment in the Fund for shares in another sub-fund of the Company which is being offered at that time. Invesco Markets II plc may be held liable solely on the basis of any statement contained in this document that is misleading, inaccurate or inconsistent with the relevant parts of the prospectus. This Fund is authorised in Ireland and regulated by the Central Bank of Ireland. Invesco Investment Management Limited is authorised in Ireland and regulated by the Central Bank of Ireland. This key investor information is accurate as at 3 February 2025. 2 (2)