Invesco Euro Equity FundA-Acc Shares31 May 2020This document is directed at retail clients in Jersey, the UK and Switzerland, as well asprofessional clients in Guernsey and Dubai.

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*Source: © 2020 Morningstar. Gross income re-invested to 31 May 2020 unless otherwise stated. The data shown relates to the Invesco Actions Euro Fund(French SICAV), which has been merged into the Invesco Euro Equity Fund (Luxembourg SICAV) on 2 October 2015. The figures do not reflect the entry chargepayable by individual investors. All performance data on this factsheet is in the currency of the share class. Reference Benchmark Source: RIMES. Please refer toPage 3 for Risk Warnings and Important Information.

Summary of fund objectiveThe objective of the Fund is to outperformthe MSCI EMU Index-NR (EUR) in the longterm. The Fund seeks to achieve itsobjective through an active allocation toEuro Zone equities. For the full objectivesand investment policy please consult thecurrent prospectus. Prior to 2 October2015, the fund was a French-domiciledSICAV launched on 6 December 1996,named Invesco Actions Euro. On 2October 2015, the fund was merged intothis Luxembourg-domiciled SICAV.

Key facts

Jeffrey TaylorHenley -on- ThamesManaged fund sinceOctober 2015

Oliver CollinHenley -on- ThamesManaged fund sinceDecember 2016

Share class launch02 October 2015Original fund launch 1

06 December 1996Legal statusLuxembourg SICAV with UCITS statusShare class currencyEURShare class typeAccumulationFund sizeEUR 821.63 mn Reference BenchmarkMSCI EMU Index-NR (EUR)Bloomberg codeINVEAAE LXISIN codeLU1240328812Settlement dateTrade Date + 3 DaysValor-Number29875289Morningstar RatingTM

AA

Quarterly fund commentaryEuropean equities fell sharply over the quarter as news emerged that the spread of theCOVID-19 was accelerating across the western hemisphere. Investors were spooked by fearsof an impending global recession as national governments began implementing extrememeasures to slow the spread of the virus, e.g. the closure of schools and non-essentialbusinesses, travel bans and social distancing measures. Against this backdrop, investors fledstocks in search of safer assets and all sectors of the broad equity market returnednegatively. At this stage it’s difficult to estimate the economic impact and the knock-on effectto earnings from the virus. We don’t know how severe it will be or how long it goes on for.What is clear is that the valuations of many of the stocks we own are already verydepressed. Until there is more certainty – probably when new infections peak – volatility islikely to remain at extended levels. The key is to have a fund which can navigate the volatilitytoday but can capitalise when the recovery comes. We trust the changes we’ve instigatedshould deliver on both objectives.

Indexed performance*Fund Benchmark

05/15 05/16 05/17 05/18 05/19 05/2060

70

80

90

100

110

120

130

Data points are as at month end.

Cumulative performance*in % YTD 1 month 1 year 3 years 5 years

Fund -22.82 3.54 -13.09 -21.70 -12.43

Benchmark -16.45 4.73 -5.35 -7.49 0.45

Quartile ranking 4 4 4 4 4

Absolute ranking 170/180 152/182 153/172 129/142 105/129

Mstar GIF OS Sector: Eurozone Large-Cap Equity Sector

Calendar year performance*in % 2015 2016 2017 2018 2019

Fund 15.80 6.76 9.33 -13.84 18.42

Benchmark 9.81 4.37 12.49 -12.71 25.47

Standardised rolling 12 month performance*31.05.15 31.05.16 31.05.17 31.05.18 31.05.19

in % 31.05.16 31.05.17 31.05.18 31.05.19 31.05.20

Fund -7.59 21.03 -1.06 -8.95 -13.09

Benchmark -9.79 20.36 1.58 -3.77 -5.35Past performance is not a guide to future returns.

Invesco Euro Equity FundA-Acc Shares31 May 2020

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Source: *Invesco. Portfolio weightings and allocations are subject to change. The weightings for each breakdown are rounded to the nearest tenth orhundredth of a percent; therefore, the aggregate weights for each breakdown may not equal 100%. The top 10 overweight and underweight positionsrepresent the largest weighting differences between the fund and the benchmark.

Holdings and active weights* (total holdings: 50)

Top 10 holdings %

Sanofi 5.3

Siemens 3.9

Energias de Portugal 3.7

Orange 3.7

Deutsche Telekom 3.5

Repsol 3.2

Compagnie DE Saint Gobain 3.1

Total 3.1

Telefonica 3.1

Vestas 3.0

Top 10 overweight +

Energias de Portugal 3.4

Orange 3.1

Vestas 3.0

Ryanair 3.0

Repsol 2.8

Compagnie DE Saint Gobain 2.7

Carrefour 2.7

Plastic Omnium 2.6

Sanofi 2.5

Telefonica 2.5

Top 10 underweight -

ASML 3.5

SAP 3.2

LVMH Moet Hennessy Louis Vuitton 2.9

Unilever 1.9

Allianz 1.9

L'Oreal 1.9

Bayer 1.7

Iberdrola 1.7

Air Liquide 1.6

Schneider Electric 1.4

Geographical weightings of the fund in %*

g Franceg Germanyg Spaing Italyg Austriag Netherlandsg Irelandg Portugalg Others

Sector weightings of the fund in %*

g Financialsg Industrialsg Communication Servicesg Materialsg Energyg Health Careg Utilitiesg Consumer Discretionaryg Others

NAV and fees Current NAVEUR 101.08 12 month price highEUR 132.63 (20/12/2019)12 month price lowEUR 77.27 (16/03/2020)Minimum investment 2

EUR 1,000Entry charge Up to 5.00%Annual management fee1.5%Ongoing charges 3

1.68%

Geographical weightings*

in %Fund

Benchmark

France 36.6 33.2

Germany 12.6 27.9

Spain 10.4 7.9

Italy 7.6 6.0

Austria 5.4 0.6

Netherlands 5.3 11.8

Ireland 5.2 2.2

Portugal 4.9 0.6

Others 13.6 9.8

Cash -1.5 0.0

Sector weightings*

in %Fund

Benchmark

Financials 21.9 13.5

Industrials 18.9 13.9

Communication Services 13.0 4.9

Materials 9.0 7.2

Energy 9.0 4.1

Health Care 7.8 9.4

Utilities 6.8 7.4

Consumer Discretionary 6.4 15.1

Others 8.7 24.5

Cash -1.5 0.0

Financial characteristics*

Average weighted market capitalisation EUR 31.91 bn

Median market capitalisation EUR 13.16 bn

Invesco Euro Equity FundA-Acc Shares31 May 2020

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Risk Warnings

The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may notget back the full amount invested.

Important Information

1The Original Fund Launch date shown herein is different from the fund launch date shown in the KIID, as it indicates the launchdate of a previous fund that was merged into the fund shown and therefore the track record starts with this previous fund.Further information can be found on our website: www.invescointernational.co.uk.2The minimum investment amounts are: USD 1,500 / EUR 1,000 / GBP 1,000 / CHF 1,500 / SEK 10,000. Please contact us orrefer to the most up to date Prospectus for details of minimum investment amounts in other currencies.3The ongoing charges figure is based on annualised expenses for the period ending August 2019. This figure may vary from yearto year. It excludes portfolio transaction costs except in the case of an entry or exit charge paid by the Fund when buying orselling shares/units in another fund.

The historical performance before 02/10/2015 refers to the French domiciled Invesco Actions Euro Fund. This fund was merged into theInvesco Euro Equity Fund on 02/10/2015. The Invesco Actions Euro Fund was formerly named Invesco Actions Europe Fund, launchedon 6/12/1996. It was restructured and renamed to Invesco Actions Euro on 01/07/2010. This restructure date is the historicalperformance start date of the fund.

Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those ofother investment professionals and are subject to change without notice. This marketing document is not an invitation to subscribe forshares in the fund and is by way of information only, it should not be considered financial advice. This does not constitute an offer orsolicitation by anyone in any jurisdiction in which such an offer is not authorised or to any person to whom it is unlawful to make such anoffer or solicitation. Persons interested in acquiring the fund should inform themselves as to (i) the legal requirements in the countries oftheir nationality, residence, ordinary residence or domicile; (ii) any foreign exchange controls and (iii) any relevant tax consequences. Aswith all investments, there are associated risks. This document is by way of information only. Asset management services are provided byInvesco in accordance with appropriate local legislation and regulations. The fund is available only in jurisdictions where its promotion andsale is permitted. Not all share classes of this fund may be available for public sale in all jurisdictions and not all share classes are the samenor do they necessarily suit every investor. Fee structure and minimum investment levels may vary dependent on share class chosen.Please check the most recent version of the fund prospectus in relation to the criteria for the individual share classes and contact yourlocal Invesco office for full details of the fund registration status in your jurisdiction. This document is marketing material and is notintended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that requireimpartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade beforepublication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sellsecurities. Please refer to the most up to date relevant fund and share class-specific Key Investor Information Document, the latestProspectus and Annual or Interim Short Reports for more information on our funds. UK based investors should also refer to the relevantSupplementary Information Document. This information is available using the contact details shown. Issued in Jersey and Guernsey byInvesco Management S.A., President Building, 37A Avenue JF Kennedy, L-1855 Luxembourg, regulated by the Commission deSurveillance du Secteur Financier, Luxembourg. In Guernsey the fund can only be promoted to Professional Clients. Issued in the UK byInvesco Management S.A., President Building, 37A Avenue JF Kennedy, L-1855 Luxembourg, regulated by the Commission deSurveillance du Secteur Financier, Luxembourg. For the purposes of UK law, the fund is a recognised scheme under section 264 of theFinancial Services & Markets Act 2000. The protections provided by the UK regulatory system, for the protection of Retail Clients, do notapply to offshore investments. Compensation under the UK’s Financial Services Compensation Scheme will not be available and UKcancellation rights do not apply. Issued in Dubai for Professional Clients only by Invesco Asset Management Limited, PO Box 506599,DIFC Precinct Building No 4, Level 3, Office 305, Dubai, United Arab Emirates. Regulated by the Dubai Financial Services Authority. InSwitzerland this marketing document is issued by Invesco Asset Management (Schweiz) AG, Talacker 34, CH-8001 Zürich who acts asrepresentative for the funds in Switzerland. Paying agent in Switzerland is BNP PARIBAS SECURITIES SERVICES, Paris, succursale deZurich, Selnaustrasse 16, 8002 Zurich, Switzerland. The Fund is domiciled in Luxembourg. Subscriptions of shares are only accepted onthe basis of the most up to date legal offering documents. These documents (fund & share class specific Key Investor InformationDocument, prospectus, annual & semi-annual reports, articles and trustee deeds) are available free of charge at our websitewww.invescoeurope.com and from the representative in Switzerland.

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