OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

Charity number: 326583

THE INVESCO CARES FOUNDATION

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

CONTENTS

Pages
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 8
Statement of Trustees’ Responsibilities 9
Independent Auditors' Report 10 - 12
Statement of Financial Activities 13
Balance Sheet 14
Statement of Cash Flows 15
Notes to the Financial Statements 16 - 28

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025

Trustees C. Bouch
J. Huysinga
G. Proudfoot
Charity number 326583
Principal office Perpetual Park
Perpetual Park Drive
Henley-on-Thames
Oxfordshire
RG9 1HH
Accountants HaysMac LLP
10 Queen Street Place
London
EC4R 1AG
Independent auditors PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
1 Embankment Place
London
WC2R 6RH
Bankers HSBC Bank Plc
Coventry DSC
Harry Weston Road
Binley
Coventry
CV3 2TQ
Investment Managers Invesco Fund Managers Limited
Perpetual Park
Perpetual Park Drive
Henley-on-Thames
RG9 1HH

Page 1

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees present their annual report on the affairs of The Invesco Cares Foundation ("Charity" or “Foundation”) for the year ended 31 December 2025.

The Charity is a charitable trust, governed by Trustees and led by the Invesco Cares Committee (“the committee”). The Charity is run by staff of Invesco UK Limited (“Invesco UK”), a subsidiary of Invesco Ltd.

Objective and activities

The Foundation works on behalf of Invesco UK’s employees to provide help to the local communities of the Henley and London offices by making financial donations to charities, both local and those with which staff have a personal connection. The committee exists to filter the high demand for Invesco support, to ensure that guideline criteria for donations are applied and to manage the administration of the donations.

There are no restrictions in the governing document which limit the discretion of the Trustees to donate the Foundation's funds for the benefit of other charities and/or charitable purposes.

Main activities undertaken for the public benefit

The Trustees confirm they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

One of the main activities of the Charity is to make grants to small, local charities where those donations will make a difference, using a set of criteria outlined below. The main beneficiaries are small, independent charities working with disadvantaged children, carers, the terminally ill, elderly and disabled. The Charity also raises funds for a larger, national Charity partner, as nominated by staff. A further part of the donations made supports matched fundraising for employees who are undertaking personal challenges e.g. mass participation events, to assist them in reaching their fundraising targets.

These activities allow Invesco UK to contribute to the communities in which it works, namely Henley and London, as well as supporting those charities that have a personal connection for its staff. In this way the Charity is directly contributing towards the public benefit.

In addition to distributing funds, the committee organises participatory events within Invesco UK, with the intention of extending the public benefit to national charitable organisations, as well as those local to the Invesco Henley and London offices. These are limited to two days a year for one national sponsored event and one day connected to the current Charity Partner. All employees who wish to participate are encouraged to donate and the chosen charity receives all funds raised, plus a matching amount.

Since 2014, the Invesco UK's employees have selected a Charity of the Year or Charity Partner. During the last three months of 2023 the committee implemented a selection process to select the Charity Partner for 2024/25. The process was entirely staff led and Rainbow Trust Children's Charity was chosen. In the final quarter of 2025, staff were again asked to nominate and select a charity for Invesco to partner with for 2026/27. Noah’s Ark Children’s Hospice was chosen.

Page 2

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Criteria for consideration for grant funding to small local charities

The committee meets to review all requests received for grant funding, either externally or from Invesco UK staff. The committee is governed by an established set of criteria to agree which applicants will be successful.

The committee currently stipulates that one or more of the following criteria must apply for any request to be considered:

Grants for employee matching

Where a member of staff is participating in a sponsored event, or fundraising project, they may make a request for support. The committee will approve a donation directly to the charity the staff member is representing. This is limited to £5,000 per member of staff per year and is a matching of the monies raised by the staff member through sponsorship. In this category, the charity does not need to be a local charity but will be a UK registered charity that is pertinent and meaningful to the individual staff member.

Grants for staff nominated charities

In September 2025, as part of our employee engagement programme, the committee asked Invesco UK staff to nominate a charity to be considered for selection as our next Charity Partner. Thirty-three different national charities were nominated by staff, as part of this selection process, each receiving a percentage of the £185,000 allocated to this programme. See Note 8 to the financial statement for further details of grants made in the year. This process will continue to happen every other year, at the discretion of the charity committee and its Trustees, as we select a new charity partner. In the years in between (even years) that money will still be ringfenced and donated to charities through an alternative nomination process, as selected either by our Business network groups or by the charity committee themselves.

Guidance for committee decisions

The committee does not:

Page 3

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Aims and objectives of the Charity

The Charity intends to raise funds to make a lasting difference to UK charities and to share those successes with staff.

Each year funds are raised for a Charity Partner through various fundraising events, sporting challenges and salary sacrifice campaigns. In 2025, the salary sacrifice campaign, and annual triathlon challenge raised £35,295 for Rainbow Trust Children's Charity. The Charity aims to engage Invesco UK staff in Invesco Cares activities in at least one of the following ways:

The charity committee will annually review and measure its success in achieving these aims by monitoring volunteer hours, staff participation in events and requests for employee matched funding. This review will be reported to the Trustees. The committee are currently satisfied that the aim of engaging staff, in the activities associated with the Charity, is being met.

Achievements and performance

In 2025, the Charity made donations to 108 (2024: 101) different charitable organisations in addition to the Charity Partner. Total donations made to charitable organisations amounted to £381,890 (2024: £403,544).

The Charity partnership programme operated for a successful tenth year during 2025, with the Charity donating £40,914 to Rainbow Trust Children's Charity. At the end of 2025 fundraising successfully reached our target of £200,000 and the recruitment of two new Family Support workers, Anna and Helen in the Southeast of England.

Financial review

During 2025, the Charity received £142,295 (2024: £1,153,807) in donations and investment income as follows:

All funds are raised through internal activities with Invesco UK staff and so no disclosure around raising funds from the public is required.

Page 4

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Going Concern

The Trustees, based on the Charity’s financial projections and present resources, are satisfied it can meet its financial obligations for a period no less than 12 months from the date the financial statements are signed. Grant commitments are entirely at the discretion of the Trustees and the committee. The financial statements are therefore prepared on a going concern basis.

Fund performance

The charity’s investment portfolio made a gain of £118,553 (2024: £83,464). This reflected the increase in the overall investments value and the decision to invest in the Invesco Summit Income Fund during 2025 to obtain a higher return.

In 2025, following a review of the investment strategy, the Trustees decided to invest in the Invesco Summit Income Fund (see later).

The Charity's investment in the Invesco Money Fund (UK) made a gain of £64,324 (2024: £78,440) during the year and at year end was valued at £180,103 (2024: £1,642,778). The Invesco Summit Income Fund (UK) made a gain of £54,229 (2024: £Nil) during the year and at the year-end was valued at £2,171,228 (2024: £Nil). For comparison, the charity previously had an investment in the Global Targeted Returns fund which made a gain of £5,024 in 2024.

Reserves policy

All running costs of the Charity are met by Invesco UK and disclosed in Note 3. At the end of the year, the Charity held £2,432,899 in unrestricted funds (2024: £2,649,411). The Trustee do not keep a specified reserves level as the charity administrator and committee have full authority to reduce spending, should future funding be withdrawn, in line with available finances.

Principal risks and Risk management

The Trustees do not consider that there is significant liquidity risk, as at the end of 2025. All running costs of the Charity are met, and will continue to be met, by Invesco UK, a minimum cash balance of £50,000 is aimed to be maintained, and monies invested are held in an open-ended pooled investment vehicle.

Invesco UK is a principal contributor and service provider to the Charity. It is also the provider of all the systems and investment processes that the Charity uses for its day-to-day running.

With the context of being an important service provider of the Charity, Invesco UK has provided the following risk

summary:

Invesco’s enterprise risk management strategy is committed to continually evolving to keep pace with business changes and client expectations. By adopting an integrated and global approach to risk management, Invesco are equipped to manage challenging market conditions and significant business changes, aligning investments with the identified market-wide risks. Invesco structure investment and business risk management under four pillars: Operational Risk, Financial Risk, Strategic Risk, and Investment Risk, with sustainability having its own category within the Investment Risk pillar.

Page 5

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Principal risks and Risk management continued

Operational risk

Operational risk is defined as “the risk of loss resulting from inadequate or failed internal processes, people, systems or from external events”. Invesco manages this risk through a range of established practices, including a formal Risk Taxonomy, Key Risk Indicators, Risk and Control Self Assessments, and Risk Appetite Statements and Strategies. Together, these measures are designed to prevent, detect, correct, and mitigate the occurrence and impact of operational risks.

Financial risk

Invesco is exposed to a range of financial risks that could affect their operations, profitability and overall financial position. The principal risks include:

Market risk: is foreign exchange risk, i.e. the risk of losses arising from adverse movements in exchange rates affecting assets and liabilities held in foreign currencies. This exposure is monitored through an assessment of the volatility of Euro and US Dollar exchange rates against Sterling, using 12-month rolling historical data sourced from Bank of England foreign exchange rates.

Credit risk: the risk that counterparties fail to meet their financial obligations, resulting in potential losses. Invesco manage this risk through robust counterparty due diligence and ongoing monitoring.

Liquidity risk: the risk that the Company may be unable to meet its short-term financial obligations due to insufficient cash or an inability to quickly convert assets into cash without material losses. Invesco mitigate this through a strong liquidity management framework, maintaining adequate cash resources and funding access, and regularly stress-testing to ensure resilience under adverse market conditions.

Strategic risk

Strategic risk arises from the potential for adverse effects on the Company’s ability to achieve its business objectives and strategic goals. This may result from ineffective internal strategic positing and decision making, failing to appropriately manage or deploy the Company's capital resources, or an inability to respond to changes in macro external factors.

Such factors include the impact from industry disruption and evolution, geopolitical events, macroeconomic fluctuations and government policy changes. These may lead to reputational damage, erosion of revenue and profitability, and/or loss of market share. The Company manages strategic risk by conducting market analysis, engaging in robust strategic planning, and maintaining flexibility to adapt to evolving market conditions.

Climate risk

Invesco considers climate change risk in its broader governance structure, encompassing corporate responsibility at an operational level and sustainable-focused considerations when aligned to client investment objectives.

With respect to investments, the Sustainable Investing Services Team provides specialized expertise to Invesco’s investment teams, while the Stewardship Leadership Committee provides governance and oversight for investment stewardship activities across the organization. Various working groups may be established within different areas of the organization to ensure that their sustainable-focused investing efforts are intentional, comprehensive and effective in addressing factors that could impact client objectives and outcomes. Some of these groups are specifically formed to implement sustainable-focused investing initiatives or to respond to new regulatory requirements.

Page 6

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Principal risks and Risk management continued

Geopolitical risk

On 28 February 2026, US and Israel launched coordinated strikes against Iranian leadership and key strategic assets, resulting in a significant escalation of regional hostilities. Iran responded with widespread missile and drone attacks, further heightening geopolitical instability across the Middle East. This escalation has contributed to increased market volatility, disruptions to global energy supply routes, and elevated sanctions-related compliance risks relevant to Invesco’s operating environment. Invesco Directors continue to monitor developments closely during this period of heightened uncertainty and are actively assessing any potential implications for the Company.

Investment policy

There are no restrictions on the Trustee's discretion to invest the Charity's funds. However, in practice, all funds are maintained either in interest bearing bank accounts, sterling money market funds or other open-ended investment companies.

Cash is held within money market funds or interest-bearing bank accounts so that it is available to meet the cost of grants committed and planned. Cash surplus to this minimum requirement may be invested in other openended investment companies until required for planned distributions.

When investing surplus funds, the Trustees seek to balance a low appetite for capital loss with the desire to achieve a real rate of return. It is also important that such surplus funds are sufficiently liquid so that they are accessible when required.

The Charity's cash balances are deposited with institutions with a minimum rating of BB or invested in a diversified money market fund.

In March 2025, the Trustees reviewed the Charity's investment policy and investments and concluded that it was appropriate to seek a higher return for the recent donations from Invesco entities and chose a multi asset solution to do so.

Related party relationships

The Charity considers Invesco UK Limited to be a related party, as the company meets all the running costs of the charity and employs the staff who work on the Charity as set out in Note 8.

Page 7

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Structure, governance and management

The Charity is registered in the UK with registered charity number 326583 and is constituted under a trust deed dated 1st February 1984, as amended by resolutions dated 19/07/2010 and 05/02/2014.

The Charity is a charitable trust, with new Trustees appointed by the existing Trustees and the Chair of the committee. All Trustees give of their time freely and no Trustee remuneration was paid in the year.

The day-to-day administration of the Charity is delegated to the committee, led by the Director, Corporate Responsibility and a team of 9 volunteers that includes a Treasurer and Chair of the committee. The committee meets approximately every 6 weeks for an hour and once a year for an entire day but communicates regularly online.

The members of the committee rotate regularly to ensure the opportunity to be involved, maintain fresh thinking, and ensure a high standard of work is maintained and enhanced, specifically:

Policies adopted for the induction and training of Trustees

Trustee recruitment procedure

Responsibility for the recruitment of new Trustees rests with the existing Trustees and Chair of the committee. They must oversee the management of an open and efficient process and always act in the best interests of the Charity.

Process for induction and training

The Chair of the committee writes to the prospective Trustee, setting out their duties and the Charity’s expectations of them. The prospective Trustee is asked to sign and return a copy of the letter.

An information pack including the Charity’s governing document and other details about the Charity is sent to the prospective Trustee, along with the guide “The essential Trustee: what you need to know (CC3)”.

A full induction is arranged with the Director, Corporate Responsibility and any new Trustees will have meetings arranged with existing Trustees. Once recruited the Charity Commission is informed and all governing documents updated accordingly. If appropriate the bank is also notified if the new Trustee is to be a signatory.

Disclosure of information to auditors

The Trustees who held office at the date of approval of this Trustees’ report confirm that, so far as they are each aware, there is no relevant audit information of which the Charity’s auditors are unaware; and each Trustee has taken all the steps that he/she ought to have taken as a Trustee to make himself/herself aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Signature:
Name: Jeroen Huysinga
Date: 12 May2026

Page 8

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on its behalf by:

Signature:

Name: Jeroen Huysinga

Date: 12 May 2026

Page 9

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE INVESCO CARES FOUNDATION

Report on the audit of the financial statements

Opinion

In our opinion, The Invesco Cares Foundation’s financial statements (the “financial statements”):

We have audited the financial statements, included within the Trustees’ Report and Financial Statements (the “Annual Report”), which comprise: the balance sheet as at 31 December 2025; the statement of financial activities and the statement of cash flows for the year then ended ; and the notes to the financial statements, which include a description of the significant accounting policies.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (“ISAs (UK)”) and applicable law. Our responsibilities under ISAs (UK) are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We remained independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, which includes the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements.

Conclusions relating to going concern

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from the date on which the financial statements are authorised for issue.

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the charity’s ability to continue as a going concern.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Reporting on other information

The other information comprises all of the information in the Annual Report other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, accordingly, we do not express an audit opinion or any form of assurance thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify an apparent material inconsistency or material misstatement, we are required to perform procedures to conclude whether there is a material misstatement of the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report based on these responsibilities.

Page 10

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE INVESCO CARES FOUNDATION (CONTINUED)

Based on our work undertaken in the course of the audit, the Charities Act 2011 requires us also to report certain opinions and matters as described below.

Trustees’ Report

Under the Charities Act 2011 we are required to report to you if, in our opinion the information given in the Trustees’ Report is inconsistent in any material respect with the financial statements. We have no exceptions to report arising from this responsibility.

Responsibilities for the financial statements and the audit

Responsibilities of the Trustees for the financial statements

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements in accordance with the applicable framework and for being satisfied that they give a true and fair view. The trustees are also responsible for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

We are eligible to act and have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Based on our understanding of the charity/industry, we identified that the principal risks of non-compliance with laws and regulations related to compliance with the Charities Act 2011 and relevant regulations made or having an effect thereunder, including the Charities (Accounts and Reports) Regulations 2008, and we considered the extent to which non-compliance might have a material effect on the financial statements. We evaluated the incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) by the trustees and those responsible for, or involved in, the preparation of the financial statements, and determined that the principal risks were related to the use of inappropriate journals to manipulate financial results or conceal the misappropriation of assets. Audit procedures performed included:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of noncompliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the FRC’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Page 11

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

INDEPENDENT AUDITORS' REPORT TO THE TRUSTEES OF THE INVESCO CARES FOUNDATION (CONTINUED)

Use of this report

This report, including the opinions, has been prepared for and only for the charity’s trustees as a body in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act (Part 4 of The Charities (Accounts and Reports) Regulations 2008) and for no other purpose. We do not, in giving these opinions, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.

Other required reporting

Charities Act 2011 exception reporting

Under the Charities Act 2011 we are required to report to you if, in our opinion:

We have no exceptions to report arising from this responsibility.

PricewaterhouseCoopers LLP Chartered Accountants and Statutory Auditors London 12 May 2026

Page 12

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Income from:
Donations and
4
legacies
Investments
6
Total income		 Restricted
funds
2025
£
11,216
-
11,216		 Unrestricted
funds
2025
£

113,086
17,993

131,079		 Unrestricted
funds
2025
£

113,086
17,993

131,079		 Total
Restricted
Unrestricted
Total
funds
funds
Funds
funds
2025
2024
2024
2024
£
£
£
£
124,302
10,977
1,135,791
1,146,768
17,993
-
7,039
7,039
142,295
10,977
1,142,830
1,153,807
Expenditure on:
Charitable
7
activities		 11,216
466,144		 477,360
10,977
486,537
497,514
Total
expenditure		 11,216
466,144		 477,360
10,977
486,537
497,514
Net
(expenditure)/
income before net
gains on
investments
Net gains on
investments
Total transfers
Net movement
in funds
Reconciliation
of funds:
Total funds
brought forward
Net movement in
funds
Total funds
carried forward		 -
-		 (335,065)
118,553		 (335,065)
-
656,293
656,293
118,553
-
83,464
83,464
-
-
-
-
-		 -
(216,512)
2,649,411
(216,512)
2,432,899		 -
-
-
-
(216,512)
-
739,757
739,757
2,649,411
-
1,909,654
1,909,654
(216,512)
-
739,757
739,757
2,432,899
-
2,649,411
2,649,411

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 16 to 28 form part of these financial statements.

Page 13

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

BALANCE SHEET AS AT 31 DECEMBER 2025

Fixed assets
Note
Investments
10
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Net assets
Total net assets
Charity funds
Unrestricted funds
12
Total funds		 81,568
81,568
-		 2025
£
2,351,331
2,351,331
81,568
2,432,899
2,432,899
2,432,899
2,432,899
2,432,899		 1,015,033
1,015,033
(8,400)		 2024
£
1,642,778
1,642,778
1,006,633
2,649,411
2,649,411
2,649,411
2,649,411
2,649,411

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Signature:

Name: Jeroen Huysinga Date: 12 May 2026

The notes on pages 16 to 28 form part of these financial statements.

Page 14

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

Note
Cash flows from operating activities
Net cash (used in) / provided by operating activities
14
Cash flows from investing activities
Proceeds from sale of investments
Purchase of investments
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The cashflow during the year relates to cash.		 2025
£
(343,465)
1,527,000
(2,117,000)
(590,000)
-
(933,465)
1,015,033
81,568		 2024
£
664,693
1,914,091
(1,814,091)
100,000
-
764,693
250,340
1,015,033

The notes on pages 16 to 28 form part of these financial statements

Page 15

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

1. General information

The Charity is registered with the Charity Commission in England and Wales. Its registered address is: Invesco, Perpetual Park, Perpetual Park Drive, Henley-On-Thames, Oxfordshire, RG9 1HH.

2. Accounting policies

A summary of the principal accounting policies, all of which have been applied consistently throughout the current and the preceding year, are set out below.

2.1 Basis of preparation of financial statements

These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared to give a ‘true and fair view’ and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’.

The Charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. The Charity has significant financial reserves at the end of the reporting period which will enable it to continue to perform its charitable activities in future years. All running costs of the Charity are met by Invesco UK.

2.2 Funds structure

The Charity may hold both restricted and unrestricted funds. All income raised by individuals to support a specific charity other than The Invesco Cares Foundation is shown in restricted funds, this can be through individuals raising money that is matched by the Charity. At the end of the financial year the balance held in restricted funds amounted to £Nil (2024: £Nil).

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donations are recognised when they have been communicated in writing with notification of both the amount and settlement date.

2.4 Charitable activities

The expenditure on charitable activities includes grant funding, as shown in Note 8.

Page 16

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year-end are noted as a commitment, but not accrued as expenditure.

2.6 Donated goods or services

Certain costs are met by Invesco UK on behalf of the Charity. These include staff costs, audit fees and costs associated with hosting charitable events. Donated services are measured at cost. These amounts are included in income as donated services from Invesco UK and are recognised when the Charity has entitlement to the income, there is sufficient certainty of receipt and it is probable that the income will be received, and the amount of income receivable can be measured reliably. An equivalent amount is also recognised as an expense within the statement of financial activities under Expenditure on charitable activities.

2.7 Allocation of support costs

Support costs consist of the auditors’ remuneration, accountancy services and staff costs which are borne by Invesco UK and donated to the Charity. Support costs are allocated pro rata to the grants awarded through unrestricted funds. No support costs are allocated to restricted funds.

2.8 Financial instruments

The investments within the financial statements are a form of basic financial instrument.

Investments are comprised of an investment in a Money market fund operated by Invesco UK. Investments are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing market price.

The Charity does not acquire put options, derivatives or other complex financial instruments.

Realised gains and losses on disposals in the year and unrealised gains and losses on investments at the Balance Sheet date are included in the Statement of Financial Activities for the relevant underlying funds. All investment income is reinvested in the fund.

Page 17

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

2. Accounting policies (continued)

2.9 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.10 Income tax exemption

The Invesco Cares Foundation, as a registered charity, is exempt from income tax under part 10 of the Income Tax Act 2007 or Section 256 of the Taxation of the Chargeable Gains Act 1992, to the extent that surpluses are applied to its charitable purposes.

2.11 Investments

The Foundation has elected to apply the provisions of Section 11 and Section 12 of FRS 102 in full Investments in pooled funds are included on the Balance Sheet at fair value which is their closing bid price on the current or previous trading day as provided by the investment manager.

Realised gains and losses on disposals in the year and unrealised gains and losses on investments at the Balance Sheet date are included in the Statement of Financial Activities for the relevant underlying funds. All investment income is reinvested in the fund.

2.12 Critical estimates and judgements

In preparing these financial statements, the Trustees have made judgements, estimates and assumptions that affect the application of the charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees consider that there are no critical estimates or judgements. However, the most significant items of judgement identified by the Trustees are as follows.

The only estimate involved in the preparation of these financial statements is the allocation of a proportion of employee time from Invesco UK to the Charity, which is shown as donated services included in Note 4 from Invesco UK and as support costs. The values allocated are based on an estimate by individual of the proportion of total time spent on the Foundation's activities; details of this allocation are included in Note 8.

2.13 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 18

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

3. Related party transactions and Trustees’ expenses and remuneration

The Trustees all give freely of their time and expertise without any form of remuneration or other benefit in cash or kind (2024: £nil). No expenses were paid to the Trustees during the year (2024: £nil).

During the year, the Charity received £11,216 (2024: £10,977) from Invesco UK. £11,216 (2024: £10,977) of this balance relates to money donated to the Foundation by Invesco UK to be paid out to the Charity of the Year partner. This is classed as restricted income, as shown in Note 4.

The Charity also received donated services valued at £103,812 (2024: £85,364) from Invesco UK during the year of which £38,191 (2024: £30,899) relates to the auditors’ fee per Note 8.

The Charity receives donations from other Invesco Group companies for certain legacy client money. During the year, the Charity received £9,274 of legacy client money donations (2024: £997,221) which was paid to the Charity by Invesco Investment Management Limited and £Nil (2024: £53,206) from Invesco Pensions Limited. There are no outstanding balances for these transactions.

4. Income from donations

Donations received from Invesco UK
Legacy client money donations
Services donated by Invesco UK
Total 2025		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
11,216
-
-
9,274
-
103,812
11,216
113,086		 Total
funds
2025
£
11,216
9,274
103,812
124,302

Page 19

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

4. Income from donations (continued)

Donations received from Invesco UK
Legacy client money donations
Services donated by Invesco UK
Total 2024		 Restricted
funds
2024
£
10,977
-
-
10,977		 Unrestricted
funds
2024
£
-
1,050,427
85,364
1,135,791		 Total
funds
2024
£
10,977
1,050,427
85,364
1,146,768

5. Auditors' remuneration

The auditors’ remuneration is borne by Invesco UK and is treated as a donated service for the Charity, recognised as income and a corresponding expense referred to in Note 3.

The audit fee payable for the audit of the financial statements is £38,191 (2024: £30,899).

6. Investment income

Investment income
Investment income		 Unrestricted
funds
2025
£
17,993
Unrestricted
funds
2024
£
7,039		 Total
funds
2025
£
17,993
Total
funds
2024
£
7,039

Page 20

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

7. Analysis of expenditure on charitable activities

Summary by fund type

Grants to Charity of the Year
Grants to small local charities
Grants for employee matching
Grants to Charity of the Year
Grants to small local charities
Grants for employee matching
Grants to Business Network Nomination		 Restricted
funds
2025
£
-
-
11,216
Unrestricted
funds
2025
£
51,136
320,384
94,624
466,144
Unrestricted
funds
2024
£
51,431
130,498
91,080
213,528
486,537		 Total
2025
£
51,136
320,384
105,840
11,216 477,360
Restricted
funds
2024
£
-
-
10,977
-		 Total
2024
£
51,431
130,498
102,057
213,528
10,977 497,514

8. Analysis of expenditure by activities

Grants to Charity of the Year
Grants to small local charities
Grants for employee matching		 Grant
funding of
activities
2025
£
40,914
256,340
84,636		 Support

costs
2025
£
10,228
64,083
21,159
95,470		 Total
funds
2025
£
51,142
320,423
105,795
381,890 477,360

Page 21

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

8. Analysis of expenditure by activities (continued)

Grants to Charity of the Year
Grants to small local charities
Grants for employee matching
Grants to Business Network Nomination		 Grant
funding of
activities
2024
£
41,716
105,850
82,781
173,197
403,544		 Support
costs
2024
£
9,715
24,648
19,276
40,331
93,970		 Total
funds
2024
£
51,431
130,498
102,057
213,528
497,514

Page 22

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

8. Analysis of expenditure by activities (continued)

Grants have been awarded as follows:

Grants have been awarded as follows:
Institution
Rainbow Trust Children's Charity
Dementia UK
Prostate cancer UK
Noah's Ark Children's Hospice
The Big Give
Ronald Mcdonald House Charities (uk)
Whizz-Kidz
Other 96 charities (donations between £500 and
£10,000)
Total 2025 Grants
Institution
Rainbow Trust Children’s Charity
The Albert Kennedy Trust
Whizz Kidz
Working Families
CLIC Sargent Cancer Care for children
Dingley Family & Specialist early years centre
Urban Synergy
Croydon Supplementary Education Project
Other 84 charities (donations between £500 and
£10,000)
Total 2024 Grants		 2025
£
40,914
33,453
30,530
30,000
23,250
10,000
10,000
203,743
381,890
2024
£
41,716
28,866
28,866
28,866
23,866
19,866
16,000
12,866
202,632
403,544

Page 23

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs (Note 9)
Auditors' remuneration
Accountancy		 Total
funds
2025
£
42,321
38,191
14,958
95,470		 Total
funds
2024
£
37,665
30,899
25,406
93,970

Support costs are allocated based on grant expenditure on each activity.

The total support costs attributable to charitable activities is then apportioned pro rata to the value of grants awarded as shown in the table below. The Charity allocates all support costs to unrestricted funds.

Grant to Charity of the year
Grants to small local charities
Grants for employee matching
Grants to Business Network Nomination
Administrative expenses
Accountancy fee		 2025
£
10,228
64,083
21,159
-
95,470
2025
£
58
8,400
8,458		 2024
£
9,715
24,648
19,276
40,331
93,970
2024
£
206
8,400
8,606

Page 24

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

9. Staff costs

Wages and salaries
Social security costs
Other pension cost
Other employee benefits		 2025
£
32,588
4,080
4,132
1,521
42,321		 2024
£
29,516
3,386
3,825
938
37,665

The average number of employees during the year was 1 (2024: 1) with all employee time involved in providing support to charitable activities and the governance of the Charity. Amounts shown above are the costs of those staff which is recognised as a donation of services from Invesco UK and corresponding expense. No employees had employee benefits in excess of £60,000 during the year (2024: none). The Charity considers its key management personnel comprises the Trustees. No remuneration or expenses were paid to the Trustees during the year.

10. Fixed asset investments

Cost or valuation
At 1 January 2025
Additions
Disposals
Revaluations
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024		 Listed
investments
£
1,642,778
2,117,000
(1,527,000)
118,553
2,351,331
2,351,331
1,642,778

Page 25

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

10. Fixed asset investments (continued)

At 31 December 2025, the Charity held investments to the value of £180,103 (2024: £1,642,778) in the Invesco Money Fund (UK) and £2,171,228 (2024: £Nil) in the Invesco Summit Income Fund (UK). The fund invests at least 80% of its assets in Sterling-dominated money-market instruments (including qualifying short-term debt securities) as well as deposits.

Risks arising from financial instruments

The value of the shares in the Fund (the “NAV per share”) can go up and down depending on how the underlying assets of the Fund perform. The Fund does not rely on any external support for guaranteeing its liquidity or stabilising the NAV per share. Your investment is not guaranteed and you may not get back the full amount invested. Over time, inflation may erode the value of investments.

As the Fund typically has a concentrated number of holdings, it may carry a higher degree of risk than a fund which invests in a broader range of holdings or takes smaller positions in a relatively large number of holdings.

The Fund may use derivatives (complex instruments) in an attempt to reduce the overall risk of its investments, although this may not be achieved. The use of such complex instruments may result in greater fluctuations of the value of the Fund. The Manager, however, will ensure that the use of derivatives within the Fund does not materially alter the overall risk profile of the Fund.

Fixed income securities to which the Fund is exposed are open to credit risk, which may result in issuers not always making interest and/or other payments, nor is the solvency of the issuers guaranteed.

11. Creditors: Amounts falling due within one year

Grants payable
Accruals		 2025
£
-
-
-		 2024
£
2,100
6,300
8,400

Page 26

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

12. Statement of funds

Statement of funds - current year

Unrestricted funds
Unrestricted funds
Restricted funds
Restricted funds
Total of funds
Statement of funds - prior year
Unrestricted funds
General Funds - all funds
Restricted funds
Restricted Funds - all funds
Total of funds		 2,649,411

Balance at
1 January
2024
£
1,909,654
-
1,909,654
Balance at 1
January
2025
£
2,649,411
-		 142,295
Income
£
1,142,830
10,977
1,153,807
Income
£
131,079
11,216		 (477,360)
Expenditure
£
(486,537)
(10,977)
(497,514)
Expenditure
£
(466,144)
(11,216)		 118,553
2,432,899
Balance at
31
December
Gains
2024
£
£
83,464
2,649,411
-
-
83,464
2,649,411
Balance at
31
December
Gains
£
2025
£
118,553
2,432,899
-
-

The amounts allocated to restricted funds are specially related to funds donated from Invesco UK, the donated amount, raised through salary sacrifice, is then forward onto the selected Charity partner. The selected Charity partner for financial year 2025 was Rainbow Trust Children's Charity (2024: Rainbow Trust Children's Charity).

Page 27

Docusign Envelope ID: 20481E7C-AAFD-81CE-82F8-4ADE59B41EA1

THE INVESCO CARES FOUNDATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Fixed asset investments
Current assets
Total		 Unrestricted
funds
2025
£
2,351,331
81,568
2,432,899		 Total
funds
2025
£
2,351,331
81,568
2,432,899

Analysis of net assets between funds - prior year

Fixed asset investments
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
1,642,778
1,015,033
(8,400)
2,649,411		 Total
funds
2024
£
1,642,778
1,015,033
(8,400)
2,649,411

14. Reconciliation of net movement in funds to net cash flow from operating activities

Net (expenditure) /income for the year (as per Statement of Financial
Activities)
Adjustments for:
Gains on investments
(Decrease)/increase in creditors
Net cash (used in) / provided by operating activities		 2025
£
(216,512)
(118,553)
(8,400)
(343,465)		 2024
£
739,757
(83,464)
8,400
664,693

Page 28