Invesco third quarter 2013 results

Invesco third quarter 2013 results Martin L. Flanagan President and Chief Executive Officer Loren M. Starr Chief Financial Officer October 31, 2013

Forward-looking statements This presentation, and comments made in the associated conference call today, may include forward-looking statements. Forward-looking statements include information concerning future results of our operations, expenses, earnings, liquidity, cash flow and capital expenditures, industry or market conditions, AUM, acquisitions and divestitures, debt and our ability to obtain additional financing or make payments, regulatory developments, demand for and pricing of our products and other aspects of our business or general economic conditions. In addition, words such as believes, expects, anticipates, intends, plans, estimates, projects, forecasts, and future or conditional verbs such as will, may, could, should, and would as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. There can be no assurance that actual results will not differ materially from our expectations. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our most recent Form 10-K and subsequent Forms 10-Q, filed with the Securities and Exchange Commission. You may obtain these reports from the SEC s website at www.sec.gov. We expressly disclaim any obligation to update the information in any public disclosure if any forward-looking statement later turns out to be inaccurate. 1

Discussion topics Third quarter overview Investment performance and flows Update on EMEA Financial Results Questions Appendix 2

Third quarter overview Continued strong investment performance and favorable market conditions contributed to solid operating results Maintained strong, long-term investment performance 82% of actively managed assets ahead of peers on a 3- and 5-year basis Strong investment performance, broad diversity of flows and continued focus on clients contributed to net flows of $9.1 billion Adjusted operating income 1 up 34% over same quarter a year ago Adjusted operating margin 1 improved to 40.2% from 34.5% in same quarter a year ago an increase of 5.7 percentage points Invesco Ltd. Board authorized additional $1.5 billion in share repurchases 3 1. Non-GAAP financial measures - See Appendix to this presentation for a reconciliation of adjusted operating income (and by calculation adjusted operating margin), to the most directly comparable U.S. GAAP financial measure. NOTE: All Non-GAAP operating results and AUM disclosures in this presentation exclude Atlantic Trust for all periods presented. See Appendix to this presentation for the reconciliations of operating results to the most directly comparable U.S. GAAP financial measures, where Atlantic Trust has been presented as a discontinued operation. At September 30, 2013, the excluded Atlantic Trust total AUM were $22.8 billion.

Summary of third quarter 2013 results Assets under management September 30, 2013 AUM of $745.5 billion versus $705.6 billion at June 30, 2013 Average AUM was $729.4 billion versus $719.8 billion for the second quarter Flows Total net inflows of $9.1 billion Net long-term inflows of $5.0 billion Overall operating results* Capital management Adjusted operating income was $328 million versus $311 million in the second quarter Adjusted operating margin was 40.2% in the quarter versus 39.3% in the second quarter Adjusted diluted EPS for the quarter was $0.55 versus $0.50 in the prior quarter Quarterly dividend of 22.5 cents per share, a return of capital of $101 million $1.5 billion of additional share repurchase authorized by the Board * Non-GAAP financial measures - See Appendix to this presentation for a reconciliation of net revenues, adjusted operating income (and by calculation adjusted operating margin), and adjusted net income (and by calculation adjusted diluted EPS) to the most directly comparable U.S. GAAP financial measure. 4

Discussion topics Third quarter overview Investment performance and flows Update on EMEA Financial results Questions Appendix 5

This image cannot currently be displayed. Investment performance overview Aggregate performance analysis asset weighted Percent of actively managed assets in top half of peer group* 1-Year 3-Year 5-Year 72% 82% 82% 28% 18% 18% Assets top half of peer group Assets bottom half of peer group *Excludes passive products, closed-end funds, private equity limited partnerships, non-discretionary funds, unit investment trusts, fund of funds with component funds managed by Invesco, stable value building block funds and CDOs. Atlantic Trust results excluded beginning 6/30/13 due to upcoming disposition. Certain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision. Data as of 9/30/2013. Includes AUM of $454.2 billion (61% of total IVZ) for 1 year, $451.4 billion (61% of total IVZ) for three year, and $424.5 billion (57% of total IVZ) for 5 year. Peer group rankings are sourced from a widely-used third party ranking agency in each fund s market (Lipper, Morningstar, IMA, Russell, Mercer, evestment Alliance, SITCA, Value Research) and asset-weighted in USD. Rankings are as of prior quarter-end for most institutional products and prior month-end for Australian retail funds due to their late release by third parties. Rankings for the most representative fund in each GIPS composite are applied to all products within each GIPS composite. Performance assumes the reinvestment of dividends. Past performance is not indicative of future results and may not reflect an investor s experience. 6

Quarterly long-term flows Continued strong gross sales across our global business Quarterly long-term flows ($ billions) Total AUM Active AUM Passive AUM 34.1 32.6 33.1 47.6 44.4 41.8 25.5 23.8 25.2 27.7 29.8 34.1 34.0 34.4 9.3 20.5 8.6 29.4 5.6 7.9 14.3 4.8 2.9 3.7 8.5 3.3 2.2 2.2 2.7 1.4 5.0 1.2 0.1 0.3 8.8 5.2 6.7 1.5 13.5 6.4 11.8 1.3 8.7 0.2-3.0-0.7-1.5-3.3-27.6-31.9-32.4-25.5-31.7-33.3-36.8-43.0-21.2-21.9-27.0-27.1-26.5-26.2-28.3-32.5-6.4-4.9-5.3-3.6-5.2-7.1-10.5-8.5 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 Gross sales Gross redemptions Net long-term flows 7

Quarterly long-term flows Continued strong gross sales in the retail channel Quarterly long-term flows ($ billions) Retail (a) Institutional (b) 36.2 37.7 35.5 20.2 26.9 2.9 24.3 26.0 26.9 5.7 2.1 10.3 4.9 6.5 9.6 3.8 7.2 5.1 8.0 7.5 2.8 0.6 11.4 4.0 6.7 6.3-1.6-0.3-0.7-2.7-3.5-1.5-21.8-24.0-24.6-20.3-24.8-25.9-32.8-29.0-5.8-7.9-7.8-5.2-6.9-7.4-10.2-7.8 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 Gross sales Gross redemptions Net long-term flows 8 (a) Retail quarterly flows include retail products in the U.S., Canada, U.K., Continental Europe, Asia and our offshore product line. (b) Institutional quarterly flows include our institutional business in the U.S., U.K., Continental Europe and Asia and excludes institutional money market.

Asset allocation strategies remain important but the third quarter saw a shift to risk-based assets Invesco Global Asset Allocation AUM ($ billions) 35.0 30.0 25.0 20.0 15.0 10.0 5.0-1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 Invesco Balanced-Risk Allocation strategies (global aggregate) Asset allocation extension strategies (global aggregate) Invesco Global Asset Allocation Net Flows ($ billions) 5.0 4.0 3.0 2.0 1.0 - (1.0) 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 Source: Invesco. Asset allocation extension strategies include balanced-risk commodity, balanced-risk income and active balanced strategies This is not to be construed as an offer to buy or sell any financial instruments nor does it constitute a recommendation of the suitability of any investment strategy for a particular investor. Additionally, this strategy may not be available to all investors or in all jurisdictions. To determine if this strategy is available in your jurisdiction, contact your local Invesco office and carefully read all legal documents before investing. The strategy is managed and distributed by wholly-owned affiliates of Invesco Ltd. See appendix page 18 for additional information. 9

US Retail gross sales remained strong at $21.6 billion for the quarter up 26% year over year Gross and net sales Percentage above the bars is change in gross sales from prior quarter ($ billions) +37% (1%) (1%) Net sales 12.5 +32% (15%) 16.4 3.5 (11%) 14.6 0.7 +17% (6%) 17.1 16.1 5.9 0.6 22.0 21.8 21.6 6.8 1.1 2.9 (0.8) Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Annualized redemption rate (rolling 3-month average) Invesco* Industry 38% 33% 32% 28% 31% 30% 34% 35% 32% 31% 26% 24% 25% 26% 25% 20% Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 10 Source: Data underlying the industry redemption rates are sourced from the ICI and calculated by Invesco. *Invesco US Retail excludes PowerShares QQQ and money market, and is through August 31, 2013 Industry redemption rates include proprietary, non-proprietary, direct, institutional, VA and ETF channels and reflects Q3 2013 through August 31, 2013.

Discussion topics Third quarter overview Investment performance and flows Update on EMEA Financial results Questions Appendix 11

Well-positioned in EMEA A strong and growing business Well-positioned for long-term success across the UK and Continental Europe Has delivered strong, long-term investment performance An experienced, capable and well-tenured fund management team supported by a robust investment culture Tremendous breadth of investment capabilities Strong organic growth Highly regarded and well-recognized brand Resources of a global firm 12

Well-positioned in EMEA A strong and growing business AUM ($, billions) Invesco Ltd. 745.5 Invesco EMEA 48.5 116.2 164.7 UK Equity Income AUM EMEA Ex-UK Equity Income AUM YTD 2013 LT Net Flows (billions) Annualized LT Organic Growth Invesco Ltd. +$20.7 +4% Invesco EMEA (ex UK Equity Income) +$8.8 +12% UK Equity Income ($0.6) 2% 13 Data as of September 30, 2013; year to date annualized.

Invesco Perpetual A deep and well-tenured team with strong investment performance Asset-weighted investment performance %, end of September 2013 3 year 5 year Equal-weighted investment performance %, end of September 2013 3 year 5 year 3% 2% 14% 13% 97% 98% 86% 87% Top half of peer group Bottom half of peer group Past performance is not a guide to future returns $78.4 billion in assets under management Named best investment management group by Money Marketing Financial Services Awards, Lipper and Money Observer for 2013 14 Source: Invesco Perpetual as at 30 September 2013. Performance data includes all Invesco Perpetual branded UK domiciled ICVC Funds in a representative IMA Sector. Performance is based in Sterling on a mid-to-mid basis, inclusive of net reinvested income and net of the annual management charge and all other fund expenses. Peer Group rankings are sourced and based upon IMA sectors. Performance data excludes funds within the IMA Specialist Fund sector as there are no peers, and also excludes two Invesco Perpetual fund of fund ICVC s to avoid double counting the assets. Any reference to a rating, a ranking or an award is not a guarantee of investment performance and is not constant over time. AUM measured in three and five year quartile rankings represents 11%, and 10% of total Invesco AUM, respectively.

Invesco Perpetual A comprehensive range of capabilities overseen by a deep and welltenured team UK Equity 10 fund managers/analysts 19 years average experience 10 years average with firm European Equity 6 fund managers/analysts 17 years average experience 11 years average with firm Global Equity 1 10 fund managers/analysts 19 years average experience 12 years average with firm Emerging Market Equity 4 fund managers/analysts 17 years average experience 10 years average with firm Asian Equity 5 fund managers/analysts 17 years average experience 11 years average with firm Japanese Equity 2 fund managers/analysts 14 years average experience 11 years average with firm US Equity 2 fund managers/analysts 16 years average experience 2 years average with firm Fixed Interest 14 fund managers/analysts 14 years average experience 8 years average with firm Multi-asset 4 fund managers/analysts 18 years average experience New to the firm Source: Invesco Perpetual as at 30 September 2013 1 As illustrated by the Invesco Perpetual Global Equity Group. This group includes members who have also been accounted in their individual asset classes 15

Continental Europe A comprehensive range of capabilities overseen by a deep and welltenured team Invesco Real Estate One of the world s largest real estate management firms with a significant EMEA profile In market since 1996 $6.3 billion under management, 102 employees, 6 offices across Continental Europe Supported by Invesco Global Real Estate, with $52 billion under management, 18 offices and 351 employees globally Invesco Quantitative Strategies Manages $23 billion in AUM 40 investment professionals across Germany, Australia, Japan and the US Full range of strategies, including passive, active, low volatility concepts, outcome-oriented balanced solutions and liquid alternatives Source: Invesco. IRE data as of 30 June; IQS data as at 30 September 2013 16

Cross border fund range Invesco well-positioned for success in the $1.6T cross-border market Asset-weighted investment performance %, end of September 2013 3 year 5 year 13% 16% 87% 84% 17 Top half of peer group Bottom half of peer group Driven by a broad product range well-suited to European investor needs and strong historical investment performance, our Continental European business now represents ~$43B of AUM Year-to-date organic growth rate of 26% Source: Morningstar and Performa as at September 30th, 2013 Data includes Aggregate Asset Weighted Performance of all Invesco Global Product Range funds domiciled in Luxembourg and Ireland in base currency on a bidto-bid basis, inclusive of gross reinvested income and net of fees. Peer Group rankings are sourced and based upon Morningstar GIF sectors. The data excludes Powershares ETFs. Any reference to a rating, a ranking or an award is not a guarantee of investment performance and is not constant over time. Certain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision. AUM measured in three and five year quartile rankings represents 5%, and 4% of total Invesco AUM, respectively.

Well-positioned in EMEA A strong and growing business Well-positioned for long-term success across the UK and Continental Europe Has delivered strong, long-term investment performance An experienced, capable and well-tenured fund management team supported by a robust investment culture Tremendous breadth of investment capabilities Strong organic growth Highly regarded and well-recognized brand Resources of a global firm 18

Discussion topics Third quarter overview Investment performance and flows Update on EMEA Financial results Questions Appendix 19

Total assets under management 3Q13 vs. 2Q13 ($ billions) 3Q-13 2Q-13 % Change Beginning Assets $705.6 $707.7 (0.3)% Long-Term Inflows 41.8 44.4 (5.9)% Long-Term Outflows (36.8) (43.0) (14.4)% Long-Term Net flows 5.0 1.4 N/A Net flows in Invesco PowerShares QQQ 0.8 0.7 14.3% Net flows in Inst. Money Market Funds 3.3 (0.7) N/A Total Net Flows 9.1 1.4 550.0% Market Gains and Losses/Reinvestment 22.4 (1.3) N/A Foreign Currency Translation 8.4 (2.2) N/A Ending Assets $745.5 $705.6 5.7% Average Long-Term AUM $616.2 $609.1 1.2% Average Short-Term AUM* $113.2 $110.7 2.3% Average AUM $729.4 $719.8 1.3% Net Revenue Yield (annualized)** 44.8bps 43.9bps Net Revenue Yield Before Performance Fees (annualized)** 44.3bps 43.4bps 20 * Short-term average AUM includes money market of $76.2 billion and PowerShares QQQ $37.0 billion ** Non-GAAP financial measure - See the Appendix to this presentation for a reconciliation of net revenues, adjusted operating income (and by calculation adjusted operating margin), and adjusted net income (and by calculation adjusted diluted EPS) to the most directly comparable U.S. GAAP financial measure.

Non-GAAP operating results 3Q13 vs. 2Q13 ($ millions) 3Q-13 2Q-13 % Change Adjusted Revenues Investment Management Fees 938 905 3.6% Service and Distribution Fees 221 216 2.3% Performance Fees 9 9 (5.6)% Other 33 29 14.5% Third-Party Distribution, Service and Advisory Expenses (384) (369) 4.2% Adjusted Net Revenues 816 790 3.3% Adjusted Operating Expenses Employee Compensation 328 323 1.7% Marketing 24 24 (3.3)% Property, Office and Technology 73 68 6.3% General and Administrative 64 64 (0.8)% Total Adjusted Operating Expenses 488 480 1.8% Adjusted Operating Income 328 311 5.6% Adjusted Other Income/(Expense) Equity in Earnings of Unconsolidated Affiliates 8 4 108.3% Interest and Dividend Income 3 3 (2.9)% Interest Expense (10) (10) (3.0)% Other Gains and Losses, net 6 (1) N/A Adjusted Income from continuing operations before income taxes 335 307 9.2% Effective Tax Rate 26.6% 27.1% Adjusted Net Income 246 224 10.0% Adjusted net (income)/loss attributable to non-controlling interests - - N/A in consolidated entities Adjusted Net Income attributable to common shareholders 246 224 10.0% Adjusted diluted EPS $0.55 $0.50 10.0% Adjusted Operating Margin 40.2% 39.3% Average AUM ($ billions) 729.4 719.8 1.3% Headcount 5,864 5,818 0.8% 21 Non-GAAP financial measures - See the Appendix to this presentation for a reconciliation of net revenues, adjusted operating income (and by calculation adjusted operating margin), and adjusted net income (and by calculation adjusted diluted EPS) to the most directly comparable U.S. GAAP financial measure.

Third quarter overview Continued strong investment performance and favorable market conditions contributed to solid operating results Maintained strong, long-term investment performance 82% of actively managed assets ahead of peers on a 3- and 5-year basis Strong investment performance, broad diversity of flows and continued focus on clients contributed to net flows of $9.1 billion Adjusted operating income 1 up 34% over same quarter a year ago Adjusted operating margin 1 improved to 40.2% from 34.5% in same quarter a year ago an increase of 5.7 percentage points Invesco Ltd. Board authorized additional $1.5 billion in share repurchases 22 1. Non-GAAP financial measures - See Appendix to this presentation for a reconciliation of adjusted operating income (and by calculation adjusted operating margin), to the most directly comparable U.S. GAAP financial measure. NOTE: All Non-GAAP operating results and AUM disclosures in this presentation exclude Atlantic Trust for all periods presented. See Appendix to this presentation for the reconciliations of operating results to the most directly comparable U.S. GAAP financial measures, where Atlantic Trust has been presented as a discontinued operation. At September30, 2013, the excluded Atlantic Trust total AUM were $22.8 billion.

Discussion topics Third quarter overview Investment performance and flows Update on EMEA Financial results Questions Appendix 23

Discussion topics Third quarter overview Investment performance and flows Update on EMEA Financial results Questions Appendix 24

Additional Information for Invesco Balanced-Risk Allocation Fund As of September 30, 2013 25 Invesco Balanced Risk Allocation Fund is a US registered 40-Act mutual fund that is distributed by Invesco Distributors, Inc., a whollyowned indirect subsidiary of Invesco Ltd.

This image cannot currently be displayed. Investment performance (5-year) By investment objective (actively managed assets)* Percentages in parentheses represent %AUM of each investment objective as a ratio of all objectives (Total ranked AUM of $424.5 billion) Equities U.S. Core (5%) U.S. Growth (6%) U.S. Value (11%) % of assets top half of peer group Sector (1%) % of assets bottom half of peer group 13 20 39 46 61 54 87 80 U.K. (11%) Canadian (1%) Asian (5%) European (2%) 2 7 27 33 98 73 67 93 *Excludes passive products, closed-end funds, private equity limited partnerships, non-discretionary funds, unit investment trusts, fund of funds with component funds managed by Invesco, stable value building block funds and CDOs. Atlantic Trust results excluded beginning 6/30/13 due to upcoming disposition. Certain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision. Data as of 9/30/2013. Includes AUM of $424.5 billion (57% of total IVZ) for 5 year. Peer group rankings are sourced from a widely-used third party ranking agency in each fund s market (Lipper, Morningstar, IMA, Russell, Mercer, evestment Alliance, SITCA, Value Research) and asset-weighted in USD. Rankings are as of prior quarter-end for most institutional products and prior month-end for Australian retail funds due to their late release by third parties. Rankings for the most representative fund in each GIPS composite are applied to all products within each GIPS composite. Performance assumes the reinvestment of dividends. Past performance is not indicative of future results and may not reflect an investor s experience. 26

Investment performance (5-year) By investment objective (actively managed assets)* Percentages in parentheses represent %AUM of each investment objective as a ratio of all objectives (Total ranked AUM of $424.5 billion) Equities Global (3%) Other % of assets top half of peer group % of assets bottom half of peer group Global ex-us and emerging markets (5%) Alternatives (6%) Balanced (8%) 3 4 36 29 64 97 71 96 Fixed income Money market (18%) U.S. fixed income (5%) Global fixed income (5%) Stable value (6%) 3 12 26-97 88 74 100 *Excludes passive products, closed-end funds, private equity limited partnerships, non-discretionary funds, unit investment trusts, fund of funds with component funds managed by Invesco, stable value building block funds and CDOs. Atlantic Trust results excluded beginning 6/30/13 due to upcoming disposition. Certain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision. Data as of 9/30/2013. Includes AUM of $424.5 billion (57% of total IVZ) for 5 year. Peer group rankings are sourced from a widely-used third party ranking agency in each fund s market (Lipper, Morningstar, IMA, Russell, Mercer, evestment Alliance, SITCA, Value Research) and asset-weighted in USD. Rankings are as of prior quarter-end for most institutional products and prior month-end for Australian retail funds due to their late release by third parties. Rankings for the most representative fund in each GIPS composite are applied to all products within each GIPS composite. Performance assumes the reinvestment of dividends. Past performance is not indicative of future results and may not reflect an investor s experience. 27

Investment performance By investment objective (actively managed assets)* Equities U.S. Core U.S. Growth U.S. Value Sector 100% 94% 100% 100% 1 st quartile 2 nd quartile 100% AUM above benchmark 94% 73% 10% 55% 50% 16% 33% 29% 12% 27% 46% 41% 28% 28% 41% 87% 79% 79% 80% 45% 52% 45% 32% 27% 35% 76% 9% 42% 71% 9% 14% 6% 40% 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr U.K. 100% 98% 99% 98% 7% Canadian Asian European 100% 100% 100% 100% 100% 100% 100% 100% 34% 79% 7% 98% 91% 66% 56% 56% 68% 68% 43% 65% 57% 74% 68% 45% 46% 41% 20% 17% 12% 12% 24% 30% 22% 25% 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr 1-Yr 3-Yr 5-Yr *Excludes passive products, closed-end funds, private equity limited partnerships, non-discretionary funds, unit investment trusts, fund of funds with component funds managed by Invesco, stable value building block funds and CDOs. Atlantic Trust results excluded beginning 6/30/13 due to upcoming disposition. Certain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision. Data as of 9/30/2013. AUM measured in the one, three, and five year quartile rankings represents 61%, 61%, and 57% of total Invesco AUM, respectively, and AUM measured versus benchmark on a one, three, and five year basis represents 72%, 71, and 68% of total Invesco AUM, respectively, as of 9/30/13. Peer group rankings are sourced from a widely-used third party ranking agency in each fund s market (Lipper, Morningstar, IMA, Russell, Mercer, evestment Alliance, SITCA, Value Research) and asset-weighted in USD. Rankings 28are as of prior quarter-end for most institutional products and prior month-end for Australian retail funds due to their late release by third parties. Rankings for the most representative fund in each GIPS composite are applied to all products within each GIPS composite. Performance assumes the reinvestment of dividends. Past performance is not indicative of future results and may not reflect an investor s experience.

Equities Global 100% 73% Investment performance By investment objective (actively managed assets)* Fixed income 89% 53% 59% 91% 72% 85% Global ex-u.s. and Emerging markets 1% 20% 16% 56% 97% 97% 94% 1-Yr 3-Yr 5-Yr 9% 58% 70% 7% 93% 4% 84% 20% 66% 68% Alternatives 58% 75% 8% 56% 68% 46% 81% 16% 43% 31% 51% 50% 1-Yr 3-Yr 5-Yr Money market U.S. fixed income Global fixed income 100% 30% 43% 91% 76% 8% 81% 1-Yr 3-Yr 5-Yr 41% 23% 100% 100% Other 100% 100% 1 st quartile 2 nd quartile 88% 12% 17% 70% Balanced 100% 42% 58% 2% 75% 65% 34% 98% 1-Yr 3-Yr 5-Yr Stable value 100% AUM above benchmark 100% 100% 100% 28% 28% 72% 72% 83% 13% 100% 9% 5% 1-Yr 3-Yr 5-Yr 12% 1-Yr 3-Yr 5-Yr 14% 1-Yr 3-Yr 5-Yr 4% 1-Yr 3-Yr 5-Yr *Excludes passive products, closed-end funds, private equity limited partnerships, non-discretionary funds, unit investment trusts, fund of funds with component funds managed by Invesco, stable value building block funds and CDOs. Atlantic Trust results excluded beginning 6/30/13 due to upcoming disposition. Certain funds and products were excluded from the analysis because of limited benchmark or peer group data. Had these been available, results may have been different. These results are preliminary and subject to revision. Data as of 9/30/2013. AUM measured in the one, three, and five year quartile rankings represents 61%, 61%, and 57% of total Invesco AUM, respectively, and AUM measured versus benchmark on a one, three, and five year basis represents 72%, 71, and 68% of total Invesco AUM, respectively, as of 9/30/13. Peer group rankings are sourced from a widely-used third party ranking agency in each fund s market (Lipper, Morningstar, IMA, Russell, Mercer, evestment Alliance, SITCA, Value Research) and asset-weighted in USD. Rankings 29are as of prior quarter-end for most institutional products and prior month-end for Australian retail funds due to their late release by third parties. Rankings for the most representative fund in each GIPS composite are applied to all products within each GIPS composite. Performance assumes the reinvestment of dividends. Past performance is not indicative of future results and may not reflect an investor s experience.

We are diversified as a firm Delivering a diverse set of solutions to meet client needs By client domicile By channel By asset class 4% 12% 68% 15% 66% 23% 7% 7% 34% 11% 47% 7% ($ billions) 1-Yr Change ($ billions) 1-Yr Change ($ billions) 1-Yr Change U.S. Canada U.K. Europe Asia $502.5 $26.4 $113.1 $51.6 $51.9 10.6% 5.6% 13.6% 44.9% 7.5% Retail Institutional $492.0 $253.5 16.2% 5.8% Equity Balanced Money Market Fixed Income Alternative $353.2 $53.5 $81.1 $172.4 $85.3 18.2% 35.1% 10.8% 3.2% 1.2% Total $745.5 12.4% Total $745.5 12.4% Total $745.5 12.4% As of September 30, 2013 30

Non-GAAP operating results quarterly ($ millions) 3Q-13 2Q-13 % Change* 1Q-13 4Q-12 3Q-12 2Q-12 1Q-12 4Q-11 Investment Management Fees 938 905 3.6% 863 836 813 775 787 747 Service and Distribution Fees 221 216 2.3% 206 200 196 187 189 181 Performance Fees 9 9 (5.6)% 39 4 3 16 21 12 Other 33 29 14.5% 26 27 24 26 33 45 Third-party distribution, service and advisory expense (384) (369) 4.2% (346) (336) (328) (318) (318) (303) Total Operating Revenues 816 790 3.3% 788 731 708 686 711 682 Employee Compensation 328 323 1.7% 335 320 312 290 297 294 Marketing 24 24 (3.3)% 23 24 26 27 27 22 Property, Office and Technology 73 68 6.3% 66 69 66 65 63 59 General and Administrative 64 64 (0.8)% 58 60 59 60 60 62 Adjusted Operating Expenses 488 480 1.8% 482 472 464 441 447 436 Adjusted Operating Income 328 311 5.6% 306 258 244 245 265 246 Equity in Earnings of Unconsolidated Affiliates 8 4 108.3% 4 3 2 6 5 (1) Interest and Dividend Income 3 3 (2.9)% 4 4 5 5 6 6 Interest Expense (10) (10) (3.0)% (10) (13) (13) (13) (14) (14) Other Gains and Losses, net 6 (1) N/A (1) - 10 (2) 2 - Adjusted Income from Continuing Operations before 335 307 9.2% 304 252 248 240 264 236 income taxes and minority interest Effective Tax Rate** 26.6% 27.1% N/A 26.6% 24.8% 26.3% 25.1% 25.5% 23.0% Adjusted Net Income 246 224 10.0% 223 189 183 180 196 182 Adjusted net (income)/loss attributable to noncontrolling interests in consolidated entities - - N/A 2 - - - - - Adjusted Net Income Attributable to Common 246 224 10.0% 226 189 183 180 196 182 Shareholders Adjusted Diluted EPS $0.55 $0.50 10.0% $0.50 $0.42 $0.40 $0.40 $0.43 $0.40 31 * % change based on unrounded figures ** Effective tax rate = Adjusted Tax Expense / (Adjusted income before taxes + (gains)/losses attributable to non-controlling interests in consolidated entities, net) See Reconciliation of US GAAP results to non-gaap results in this appendix

US GAAP operating results quarterly ($ millions) 3Q-13 2Q-13 % Change* 1Q-13 4Q-12 3Q-12 2Q-12 1Q-12 4Q-11 Investment Management Fees 914 886 3.3% 845 818 791 753 766 724 Service and Distribution Fees 221 216 2.3% 206 200 196 187 189 181 Performance Fees 5 6 (15.0)% 36 2 3 16 20 12 Other 32 28 11.7% 25 27 24 26 33 45 Total Operating Revenues 1,172 1,136 3.2% 1,112 1,047 1,014 982 1,008 962 Employee Compensation 330 324 1.9% 342 322 315 288 303 298 Third-Party Distribution, Service and Advisory 381 366 4.1% 346 350 326 316 316 301 Marketing 23 24 (5.0)% 22 23 26 26 26 21 Property, Office and Technology 72 69 4.8% 67 70 66 65 64 63 General and Administrative 80 77 3.6% 68 73 66 85 71 71 Transaction & Integration - 2 (100.0)% 1 3 3 1 2 6 Total Operating Expenses 886 862 2.8% 845 841 803 782 782 760 Operating Income 286 274 4.4% 267 206 211 200 226 202 Equity in Earnings of Unconsolidated Affiliates 10 7 49.3% 8 8 5 7 10 5 Interest and Dividend Income 3 2 19.0% 2 3 3 2 2 3 Interest Expense (10) (10) (3.0)% (10) (13) (13) (13) (14) (14) Other Gains and Losses, net 3 0 N/A% 18 (21) 18 (8) 19 55 Interest Income of Consolidated Investment Products 47 51 (8.3)% 50 52 69 69 69 74 Interest Expense of Consolidated Investment Products (34) (31) 9.5% (33) (34) (42) (47) (46) (52) Other Gains and (Losses) of Consolidated Investment 38 (2) N/A (21) (28) (25) 77 (122) 104 Products, net Income from continuing operations before income taxes 343 292 17.5% 282 173 226 287 145 376 Effective Tax Rate** 28.8% 28.7% 28.4% 27.3% 30.2% 28.7% 27.4% 26.9% Income from continuing operations, net of taxes 250 208 20.1% 196 117 154 226 73 304 Income/(loss) from discontinued operations, net of taxes (1) (5) (69.6)% 4 11 3 2 2 6 Net Income 249 204 22.1% 200 128 157 228 75 310 Net (Income)/Loss Attributable to Noncontrolling Interests in Consolidated Entities (21) (1) N/A 23 31 14 (74) 119 (108) Net Income Attributable to Common Shareholders 228 203 12.6% 222 159 171 154 194 202 EPS Diluted $0.51 $0.45 13.3% $0.49 $0.35 $0.38 $0.34 $0.42 $0.44 * % change based on unrounded figures ** Effective tax rate = Tax Expense / (Income before income taxes+ (gains)/losses attributable to noncontrolling interests in consolidated entities, net) 32

Total assets under management quarterly ($ billions) 3Q-13 2Q-13 % Change 1Q-13 4Q-12 3Q-12 Beginning Assets $705.6 $707.7 (0.3)% $667.4 $663.0 $627.6 Long-Term Inflows 41.8 44.4 (5.9)% 47.6 34.4 34.0 Long-Term Outflows (36.8) (43.0) (14.4)% (33.3) (31.7) (25.5) Long-Term Net flows 5.0 1.4 N/A 14.3 2.7 8.5 Net flows in Invesco PowerShares QQQ 0.8 0.7 14.3% (0.4) (2.5) 0.6 Net flows in Inst. Money Market Funds 3.3 (0.7) N/A 4.8 0.1 2.3 Total Net Flows 9.1 1.4 550.0% 18.7 0.3 11.4 Market Gains and Losses/Reinvestment 22.4 (1.3) N/A 30.5 5.3 21.4 Acquisitions/dispositions, net - - N/A - - (1.7) Foreign Currency Translation 8.4 (2.2) XX% (8.9) (1.2) 4.3 Ending Assets $745.5 $705.6 5.7% $707.7 $667.4 $663.0 Average Long-Term AUM $616.2 $609.1 1.2% $586.0 $559.1 $545.6 Average Short-Term AUM $113.2 $110.7 2.3% $105.6 $101.1 $102.9 Average AUM $729.4 $719.8 1.3% $691.6 $660.2 $648.5 Gross Revenue Yield (annualized)* 64.6bps 63.4bps 64.6bps 63.7bps 62.8bps Gross Revenue Yield Less Performance Fees (annualized)* 64.3bps 63.1bps 62.5bps 63.6bps 62.6bps Net Revenue Yield (annualized)** 44.8bps 43.9bps 45.6bps 44.3bps 43.7bps Net Revenue Yield Less Performance Fees (annualized)** 44.3bps 43.4bps 43.3bps 44.0bps 43.5bps 33 * Gross revenue yield on AUM is equal to total operating revenues divided by average AUM, excluding JV AUM. Average AUM for 3Q13, for our joint ventures in China were $4.0bn (2Q13:$3.6bn; 1Q13:$3.3bn; 4Q12:$2.9bn; 3Q12:$2.9bn;) **Net Revenue Yield on AUM is equal to net revenues divided by average AUM including JV AUM. Average AUM for 3Q13, for our JV in China were $4.0bn (2Q13:$3.6bn; 1Q13:$3.3bn; 4Q12:$2.9bn; 3Q12:$2.9bn)

Total assets under management by asset class ($ billions) Total Equity Fixed Income Balanced Money Market Alternative March 31, 2013 $707.7 $319.1 $175.9 $49.3 $77.8 $85.6 Long-Term Inflows 44.4 21.0 9.6 5.6 1.2 7.0 Long-Term Outflows (43.0) (22.4) (9.5) (3.5) (0.7) (6.9) Long-Term Net flows 1.4 (1.4) 0.1 2.1 0.5 0.1 Net flows in Invesco PowerShares QQQ Net flows in Inst. Money Market Fund Market Gains and Losses/Reinvestment 0.7 0.7 - - - - (0.7) - - - (0.7) - (1.3) 4.3 (2.7) (1.5) 0.2 (1.6) Foreign Currency Translation (2.2) (1.3) (0.2) (0.2) - (0.5) June 30, 2013 $705.6 $321.4 $173.1 $49.7 $77.8 $83.6 Long-Term Inflows 41.8 22.8 8.4 3.7 1.0 5.9 Long-Term Outflows (36.8) (18.2) (9.5) (3.5) (1.1) (4.5) Long-Term Net flows 5.0 4.6 (1.1) 0.2 (0.1) 1.4 Net flows in Invesco PowerShares QQQ Net flows in Inst. Money Market Fund Market Gains and Losses/Reinvestment 0.8 0.8 - - - - 3.3 - - - 3.3-22.4 20.7 (0.7) 2.3 0.2 (0.1) Foreign Currency Translation 8.4 5.7 1.1 1.3 (0.1) 0.4 September 30, 2013 $745.5 $353.2 $172.4 $53.5 $81.1 $85.3 34

Total assets under management by asset class ($ billions) Total Equity Fixed Income Balanced Money Market Alternative September 30, 2012 $663.0 $298.9 $167.0 $39.6 $73.2 $84.3 Long-Term Inflows 34.4 13.2 9.5 5.1 0.6 6.0 Long-Term Outflows (31.7) (16.5) (6.1) (1.8) (0.7) (6.6) Long-Term Net flows 2.7 (3.3) 3.4 3.3 (0.1) (0.6) Net flows in Invesco PowerShares QQQ (2.5) (2.5) - - - - Net flows in Inst. Money Market Fund Market Gains and Losses/Reinvestment 0.1 - - - 0.1-5.3 2.9 1.7 0.7 0.1 (0.1) Foreign Currency Translation (1.2) (0.4) (0.2) - - (0.6) December 31, 2012 $667.4 $295.6 $171.9 $43.6 $73.3 $83.0 Long-Term Inflows 47.6 18.5 14.1 7.0 0.7 7.3 Long-Term Outflows (33.3) (16.2) (9.1) (2.0) (0.8) (5.2) Long-Term Net flows 14.3 2.3 5.0 5.0 (0.1) 2.1 Net flows in Invesco PowerShares QQQ (0.4) (0.4) - - - - Net flows in Inst. Money Market Fund Market Gains and Losses/Reinvestment 4.8 - - - 4.8-30.5 27.3 0.3 1.9 (0.2) 1.2 Foreign Currency Translation (8.9) (5.7) (1.3) (1.2) - (0.7) March 31, 2013 $707.7 $319.1 $175.9 $49.3 $77.8 $85.6 35

Total assets under management by channel ($ billions) Total Retail Institutional March 31, 2013 $707.7 $454.9 $252.8 Long-Term Inflows 44.4 37.7 6.7 Long-Term Outflows (43.0) (32.8) (10.2) Long-Term Net flows 1.4 4.9 (3.5) Net flows in Invesco PowerShares QQQ 0.7 0.7 - Net flows in Inst. Money Market Funds (0.7) - (0.7) Market Gains and Losses/Reinvestment (1.3) (1.6) 0.3 Foreign Currency Translation (2.2) (1.2) (1.0) June 30, 2013 $705.6 $457.7 $247.9 Long-Term Inflows 41.8 35.5 6.3 Long-Term Outflows (36.8) (29.0) (7.8) Long-Term Net flows 5.0 6.5 (1.5) Net flows in Invesco PowerShares QQQ 0.8 0.8 - Net flows in Inst. Money Market Funds 3.3-3.3 Market Gains and Losses/Reinvestment 22.4 19.6 2.8 Foreign Currency Translation 8.4 7.4 1.0 September 30, 2013 $745.5 $492.0 $253.5 36

Total assets under management by channel ($ billions) Total Retail Institutional September 30, 2012 $663.0 $423.4 $239.6 Long-Term Inflows 34.4 26.9 7.5 Long-Term Outflows (31.7) (24.8) (6.9) Long-Term Net flows 2.7 2.1 0.6 Net flows in Invesco PowerShares QQQ (2.5) (2.5) - Net flows in Inst. Money Market Funds 0.1-0.1 Market Gains and Losses/Reinvestment 5.3 2.6 2.7 Foreign Currency Translation (1.2) 0.2 (1.4) December 31, 2012 $667.4 $425.8 $241.6 Long-Term Inflows 47.6 36.2 11.4 Long-Term Outflows (33.3) (25.9) (7.4) Long-Term Net flows 14.3 10.3 4.0 Net flows in Invesco PowerShares QQQ (0.4) (0.4) - Net flows in Inst. Money Market Funds 4.8-4.8 Market Gains and Losses/Reinvestment 30.5 26.1 4.4 Foreign Currency Translation (8.9) (6.9) (2.0) March 31, 2013 $707.7 $454.9 $252.8 37

Total assets under management by client domicile ($ billions) Total U.S. Canada U.K. Continental Europe Asia March 31, 2013 $707.7 $482.4 $26.0 $104.6 $44.3 $50.4 Long-Term Inflows 44.4 25.6 0.9 4.4 7.5 6.0 Long-Term Outflows (43.0) (25.9) (1.3) (5.0) (5.0) (5.8) Long-Term Net flows 1.4 (0.3) (0.4) (0.6) 2.5 0.2 Net flows in Invesco PowerShares QQQ 0.7 0.7 - - - - Net flows in Inst. Money Market Funds (0.7) (0.4) - 0.1 (0.1) (0.3) Market Gains and Losses/Reinvestment (1.3) (0.9) 0.1 0.3 (0.4) (0.4) Foreign Currency Translation (2.2) - (0.9) (0.1) 0.1 (1.3) June 30, 2013 $705.6 $481.5 $24.8 $104.3 $46.4 $48.6 Long-Term Inflows 41.8 25.7 0.8 4.0 6.4 4.9 Long-Term Outflows (36.8) (23.7) (1.0) (4.3) (4.2) (3.6) Long-Term Net flows 5.0 2.0 (0.2) (0.3) 2.2 1.3 Net flows in Invesco PowerShares QQQ 0.8 0.8 - - - - Net flows in Inst. Money Market Funds 3.3 3.4 0.1 (0.2) - - Market Gains and Losses/Reinvestment 22.4 14.7 1.1 2.7 2.5 1.4 Foreign Currency Translation 8.4 0.1 0.6 6.6 0.5 0.6 September 30, 2013 $745.5 $502.5 $26.4 $113.1 $51.6 $51.9 38

Total assets under management by client domicile ($ billions) Total U.S. Canada U.K. Continental Europe Asia September 30, 2012 $663.0 $454.5 $25.0 $99.6 $35.6 $48.3 Long-Term Inflows 34.4 20.6 1.3 3.3 5.8 3.4 Long-Term Outflows (31.7) (20.3) (1.3) (3.4) (3.9) (2.8) Long-Term Net flows 2.7 0.3 - (0.1) 1.9 0.6 Net flows in Invesco PowerShares QQQ (2.5) (2.5) - - - - Net flows in Inst. Money Market Funds 0.1 0.4 (0.1) (0.2) - - Market Gains and Losses/Reinvestment 5.3 (0.2) 0.6 1.9 1.1 1.9 Foreign Currency Translation (1.2) - (0.3) 0.7 0.2 (1.8) December 31, 2012 $667.4 $452.5 $25.2 $101.9 $38.8 $49.0 Long-Term Inflows 47.6 30.1 1.2 3.7 8.9 3.7 Long-Term Outflows (33.3) (20.1) (1.3) (4.3) (3.9) (3.7) Long-Term Net flows 14.3 10.0 (0.1) (0.6) 5.0 - Net flows in Invesco PowerShares QQQ (0.4) (0.4) - - - - Net flows in Inst. Money Market Funds 4.8 4.6-0.2 - - Market Gains and Losses/Reinvestment 30.5 15.6 1.5 9.5 0.9 3.0 Foreign Currency Translation (8.9) 0.1 (0.6) (6.4) (0.4) (1.6) March 31, 2013 $707.7 $482.4 $26.0 $104.6 $44.3 $50.4 39

Passive assets under management by asset class ($ billions) Total Equity Fixed Income Balanced Money Market Alternative March 31, 2013 $123.1 $62.0 $41.9 - - $19.2 Long-Term Inflows 11.8 6.8 4.0 - - 1.0 Long-Term Outflows (10.5) (4.8) (2.2) - - (3.5) Long-Term Net flows 1.3 2.0 1.8 - - (2.5) Net flows in Invesco PowerShares QQQ Net flows in Inst. Money Market Funds Market Gains and Losses/Reinvestment 0.7 0.7 - - - - - - - - (1.0) 1.0 (1.2) - - (0.8) Foreign Currency Translation (0.4) - - - - (0.4) June 30, 2013 $123.7 $65.7 $42.5 - - $15.5 Long-Term Inflows 8.7 6.0 1.6 - - 1.1 Long-Term Outflows (8.5) (3.6) (3.9) - - (1.0) Long-Term Net flows 0.2 2.4 (2.3) - - 0.1 Net flows in Invesco PowerShares QQQ Net flows in Inst. Money Market Funds Market Gains and Losses/Reinvestment 0.8 0.8 - - - - - - - - 4.9 5.2 (0.6) - - 0.3 Foreign Currency Translation - - - - - - September 30, 2013 $129.6 $74.1 $39.6 - - $15.9 40

Passive assets under management by asset class ($ billions) Total Equity Fixed Income Balanced Money Market Alternative September 30, 2012 $117.9 $59.2 $37.6 - - $21.1 Long-Term Inflows 6.7 3.6 2.5 - - 0.6 Long-Term Outflows (5.2) (2.7) (1.0) - - (1.5) Long-Term Net flows 1.5 0.9 1.5 - - (0.9) Net flows in Invesco PowerShares QQQ Net flows in Inst. Money Market Funds Market Gains and Losses/Reinvestment (2.4) (2.4) - - - - - - - - - - (2.6) (2.2) (0.1) - - (0.3) Foreign Currency Translation (0.4) - - - - (0.4) December 31, 2012 $114.0 $55.5 $39.0 - - $19.5 Long-Term Inflows 13.5 6.3 5.7 - - 1.5 Long-Term Outflows (7.1) (3.2) (2.4) - - (1.5) Long-Term Net flows 6.4 3.1 3.3 - - - Net flows in Invesco PowerShares QQQ (0.4) (0.4) - - - - Net flows in Inst. Money Market Funds Market Gains and Losses/Reinvestment - - - - - - 3.4 3.8 (0.4) - - - Foreign Currency Translation (0.3) - - - - (0.3) March 31, 2013 $123.1 $62.0 $41.9 - - $19.2 41

Passive assets under management by channel ($ billions) Total Retail Institutional March 31, 2013 $123.1 $98.5 $24.6 Long-Term Inflows 11.8 10.1 1.7 Long-Term Outflows (10.5) (8.2) (2.3) Long-Term Net flows 1.3 1.9 (0.6) Net flows in Invesco PowerShares QQQ 0.7 0.7 - Net flows in Inst. Money Market Funds - - - Market Gains and Losses/Reinvestment (1.0) (1.1) 0.1 Foreign Currency Translation (0.4) - (0.4) June 30, 2013 $123.7 $100.0 $23.7 Long-Term Inflows 8.7 8.7 - Long-Term Outflows (8.5) (6.0) (2.5) Long-Term Net flows 0.2 2.7 (2.5) Net flows in Invesco PowerShares QQQ 0.8 0.8 - Net flows in Inst. Money Market Funds - - - Market Gains and Losses/Reinvestment 4.9 4.8 0.1 Foreign Currency Translation - - - September 30, 2013 $129.6 $108.3 $21.3 42

Passive assets under management by channel ($ billions) Total Retail Institutional September 30, 2012 $117.9 $94.7 $23.2 Long-Term Inflows 6.7 6.3 0.4 Long-Term Outflows (5.2) (4.7) (0.5) Long-Term Net flows 1.5 1.6 (0.1) Net flows in Invesco PowerShares QQQ (2.4) (2.4) - Net flows in Inst. Money Market Funds - - - Market Gains and Losses/Reinvestment (2.6) (2.7) 0.1 Foreign Currency Translation (0.4) - (0.4) December 31, 2012 $114.0 $91.2 $22.8 Long-Term Inflows 13.5 10.3 3.2 Long-Term Outflows (7.1) (5.7) (1.4) Long-Term Net flows 6.4 4.6 1.8 Net flows in Invesco PowerShares QQQ (0.4) (0.4) - Net flows in Inst. Money Market Funds - - - Market Gains and Losses/Reinvestment 3.4 3.1 0.3 Foreign Currency Translation (0.3) - (0.3) March 31, 2013 $123.1 $98.5 $24.6 43

Passive assets under management by client domicile ($ billions) Total U.S. Canada U.K. Continental Europe Asia March 31, 2013 $123.1 $116.9 $0.1 - $1.2 $4.9 Long-Term Inflows 11.8 11.5 - - 0.2 0.1 Long-Term Outflows (10.5) (8.3) - - (0.1) (2.1) Long-Term Net flows 1.3 3.2 - - 0.1 (2.0) Net flows in Invesco PowerShares QQQ 0.7 0.7 - - Net flows in Inst. Money Market Funds - - - - - - Market Gains and Losses/Reinvestment (1.0) (1.1) - - - 0.1 Foreign Currency Translation (0.4) - - - - (0.4) June 30, 2013 $123.7 $119.7 $0.1 - $1.3 $2.6 Long-Term Inflows 8.7 8.6 - - 0.1 - Long-Term Outflows (8.5) (8.4) - - (0.1) - Long-Term Net flows 0.2 0.2 - - - - Net flows in Invesco PowerShares QQQ 0.8 0.8 - - Net flows in Inst. Money Market Funds - - - - - - Market Gains and Losses/Reinvestment 4.9 4.7 - - 0.1 0.1 Foreign Currency Translation - - - - - - September 30, 2013 $129.6 $125.4 $0.1 - $1.4 $2.7 44

Passive assets under management by client domicile ($ billions) Total U.S. Canada U.K. Continental Europe Asia September 30, 2012 $117.9 $110.8 - - $1.3 $5.8 Long-Term Inflows 6.7 6.6 0.1 - - - Long-Term Outflows (5.2) (4.6) - - (0.2) (0.4) Long-Term Net flows 1.5 2.0 0.1 - (0.2) (0.4) Net flows in Invesco PowerShares QQQ (2.4) (2.4) - - - - Net flows in Inst. Money Market Funds - - - - - - Market Gains and Losses/Reinvestment (2.6) (2.6) - - - - Foreign Currency Translation (0.4) - - - - (0.4) December 31, 2012 $114.0 $107.8 0.1 - $1.1 $5.0 Long-Term Inflows 13.5 13.3 - - 0.2 - Long-Term Outflows (7.1) (6.9) - - (0.1) (0.1) Long-Term Net flows 6.4 6.4 - - 0.1 (0.1) Net flows in Invesco PowerShares QQQ (0.4) (0.4) - - Net flows in Inst. Money Market Funds - - - - - - Market Gains and Losses/Reinvestment 3.4 3.1 - - - 0.3 Foreign Currency Translation (0.3) - - - - (0.3) March 31, 2013 $123.1 $116.9 $0.1 - $1.2 $4.9 45

Reconciliation of US GAAP results to non-gaap results three months ended September 30, 2013 * Other: Please refer to pages 19-21 in the 3Q 2013 earnings press release for a description of the adjustments ($ millions) Operating Revenues US GAAP Basis Proportional Consolidation of Joint Ventures 3 rd party distribution, service and advisory expenses Acquisition related Market appreciation / depreciation of deferred compensation awards Consolidated Investment Products Investment Management Fees 914 15 - - - 9-938 Service and Distribution Fees 221 - - - - - - 221 Performance Fees 5 - - - - 3-9 Other 32 2 - - - - - 33 Third-Party Distribution, Service and Advisory - (3) (381) - - - - (384) Total Operating Revenues reconciled to net revenues Operating Expenses 1,172 14 (381) - - 12-816 Employee Compensation 330 4 - - (7) - - 328 Third-Party Distribution, Service and Advisory 381 - (381) - - - - - Marketing 23 1 - - - - - 24 Property, Office and Technology 72 1 - - - - - 73 General and Administrative 80 1 - (4) - (13) (1) 64 Transaction & Integration - - - - - - - - Total Operating Expenses 886 7 (381) (4) (7) (13) (1) 488 Operating Income reconciled to adjusted operating income 286 6-4 7 25 1 328 Equity in Earnings of Unconsolidated Affiliates 10 (5) - - - 2-8 Interest and Dividend Income 3 1 - - (1) 1-3 Interest Expense (10) - - - - - - (10) Other Gains and Losses, net 3 - - - (9) 12 1 6 Interest Income of Consolidated Investment Products 47 - - - - (47) - - Interest Expense of Consolidated Investment Products (34) - - - - 34 - - Other* Non- GAAP basis Other Gains and (Losses) of Consolidated Investment Products, net 38 - - - - (38) - - Income from continuing operations before income taxes 343 2-4 (4) (11) 1 335 Income Tax Provision (93) (2) - 5 1 - - (89) Income from continuing operations, net of income taxes 250-9 (3) (11) 1 246 Income/(loss) from discontinued operations, net of taxes (1) - 1 - - - - Net income 249 10 (3) (11) 1 246 Net (Income)/Loss Attributable to Noncontrolling Interests in Consolidated Entities Net Income Attributable to Common Shareholders reconciled to adjusted net income attributable to common shareholders Diluted EPS Diluted Shares Outstanding Operating margin 46 (21) - - - - 21 - - 228 - - 10 (3) 9 1 246 $0.51 Adjusted diluted EPS $0.55 448.8 Diluted Shares Outstanding 448.8 24.4% Adjusted Operating Margin 40.2%

Reconciliation of US GAAP results to non-gaap results three months ended June 30, 2013 * Other: Please refer to pages 19-21 in the 2Q 2013 earnings press release for a description of the adjustments ($ millions) Operating Revenues US GAAP Basis Proportional Consolidation of Joint Ventures 3 rd party distribution, service and advisory expenses Acquisition related Market appreciation / depreciation of deferred compensation awards Consolidated Investment Products Investment Management Fees 886 13 - - - 6-905 Service and Distribution Fees 216 - - - - - - 216 Performance Fees 6 - - - - 3-9 Other 28 1 - - - - - 29 Third-Party Distribution, Service and Advisory - (3) (366) - - - - (369) Total Operating Revenues reconciled to net revenues Operating Expenses 1136 12 (366) - - 9-790 Employee Compensation 324 3 - - (3) - (1) 323 Third-Party Distribution, Service and Advisory 366 - (366) - - - - - Marketing 24 1 - - - - - 24 Property, Office and Technology 69 1 - - - - (1) 68 General and Administrative 77 1 - (4) - (9) (1) 64 Transaction & Integration 2 - - (2) - - - - Total Operating Expenses 862 5 (366) (6) (3) (9) (3) 480 Operating Income reconciled to adjusted operating income 274 7-6 3 18 3 311 Equity in Earnings of Unconsolidated Affiliates 7 (4) - - - 1-4 Interest and Dividend Income 2 1 - - (1) 2-3 Interest Expense (10) - - - - - - (10) Other Gains and Losses, net - - - - (1) - (1) (1) Interest Income of Consolidated Investment Products 51 - - - - (51) - - Interest Expense of Consolidated Investment Products (31) - - - - 31 - - Other* Non- GAAP basis Other Gains and (Losses) of Consolidated Investment Products, net (2) - - - - 2 - - Income from continuing operations before income taxes 292 3-6 1 2 3 307 Income Tax Provision (84) (3) - 4 - - (1) (83) Income from continuing operations, net of income taxes 208-10 1 2 2 224 Income/(loss) from discontinued operations, net of taxes (5) - 5 - - - - Net income 204 14 1 2 2 224 Net (Income)/Loss Attributable to Noncontrolling Interests in Consolidated Entities Net Income Attributable to Common Shareholders reconciled to adjusted net income attributable to common shareholders Diluted EPS Diluted Shares Outstanding Operating margin 47 (1) - - - - 1 - - 203 - - 14 1 4 2 224 $0.45 Adjusted diluted EPS $0.50 450.1 Diluted Shares Outstanding 450.1 24.1% Adjusted Operating Margin 39.3%