IVZ · Invesco Ltd.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in one installment on the 3rd anniversary of the grant date and expire upon the employee's termination of employment.

Represents the acquisition by IAI of Class E Common Stock as payment of its management fee.

Represents the repurchase of shares of Class E Common Stock held by Invesco Advisers, Inc., which is a wholly owned indirect subsidiary of Invesco Ltd., the ultimate parent entity. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

Represents the repurchase of shares of Class E Common Stock held by Invesco Advisers, Inc. (IAI), which is a wholly owned indirect subsidiary of Invesco Ltd., the ultimate parent entity. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

This number includes 18.593 shares received through a dividend reinvestment program.

These shares are held directly by Invesco Realty, Inc. ("IRI"), which is a wholly owned subsidiary of Invesco Advisers, Inc. (the issuer's adviser), which is a wholly owned subsidiary of Invesco Group Services, Inc., which is a wholly owned subsidiary of OppenheimerFunds, Inc., which is a wholly owned subsidiary of Oppenheimer Acquisition Corp., which is a wholly owned subsidiary of Invesco Holding Company (US), Inc., which is a wholly owned subsidiary of Invesco Holding Company Limited and which is a wholly owned subsidiary of Invesco Ltd., the ultimate parent entity. As a result, all entities other than Invesco Realty, Inc. are indirect beneficial owners. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

These shares are held directly by Invesco Realty, Inc. ("IRI"), which is a wholly owned subsidiary of Invesco Advisers, Inc. (the issuer's adviser), which is a wholly owned subsidiary of Invesco Group Services, Inc., which is a wholly owned subsidiary of OppenheimerFunds, Inc., which is a wholly owned subsidiary of Oppenheimer Acquisition Corp., which is a wholly owned subsidiary of Invesco Holding Company (US), Inc., which is a wholly owned subsidiary of Invesco Holding Company Limited and which is a wholly owned subsidiary of Invesco Ltd., the ultimate parent entity. As a result, all entities other than Invesco Realty, Inc. are indirect beneficial owners. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

Represents the acquisition by IAI of Class E Common Stock as payment of its management fee.

These shares are held directly by Invesco Realty, Inc. ("IRI"), which is a wholly owned subsidiary of Invesco Advisers, Inc. (the issuer's adviser), which is a wholly owned subsidiary of Invesco Group Services, Inc., which is a wholly owned subsidiary of OppenheimerFunds, Inc., which is a wholly owned subsidiary of Oppenheimer Acquisition Corp., which is a wholly owned subsidiary of Invesco Holding Company (US), Inc., which is a wholly owned subsidiary of Invesco Holding Company Limited and which is a wholly owned subsidiary of Invesco Ltd., the ultimate parent entity. As a result, all entities other than Invesco Realty, Inc. are indirect beneficial owners. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

This Form 4 reports the acquisition by Invesco Advisers, Inc. (IAI) of 85,860.603 shares of Class E Common Stock as payment of its management fee under the Amended and Restated Advisory Agreement by and among the Company, Invesco Commercial Real Estate Finance Investments, LP and IAI. IAI is a wholly owned indirect subsidiary of Invesco Ltd., the ultimate parent entity. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

These shares are held directly by Invesco Realty, Inc. ("IRI"), which is a wholly owned subsidiary of Invesco Advisers, Inc. (the issuer's adviser), which is a wholly owned subsidiary of Invesco Group Services, Inc., which is a wholly owned subsidiary of OppenheimerFunds, Inc., which is a wholly owned subsidiary of Oppenheimer Acquisition Corp., which is a wholly owned subsidiary of Invesco Holding Company (US), Inc., which is a wholly owned subsidiary of Invesco Holding Company Limited and which is a wholly owned subsidiary of Invesco Ltd., the ultimate parent entity. As a result, all entities other than Invesco Realty, Inc. are indirect beneficial owners. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

Represents the repurchase of shares of Class E Common Stock held by Invesco Advisers, Inc. (IAI), which is a wholly owned indirect subsidiary of Invesco Ltd., the ultimate parent entity. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

Represents the acquisition by IAI of Class E Common Stock as payment of its management fee.

Represents the repurchase of shares of Class E Common Stock held by Invesco Advisers, Inc. (IAI), which is a wholly owned indirect subsidiary of Invesco Ltd., the ultimate parent entity. The Reporting Persons are directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal annual installments and expire upon the employee's termination of employment.

Represents the acquisition by IAI of Class E Common Stock as payment of its management fee.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal installments and expire upon the employee's termination of employment.

The Restricted Stock Unit represents a contingent right to receive on Common Share oof Invesco Ltd.

The Restricted Stock Units vest in one installment on the third anniversary of the grant date and expire upon the employee's termination of employment.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal annual installments and expire upon the employee's termination of employment.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal installments and expire upon the employee's termination of employment.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal annual installments and expire upon the employee's termination of employment.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal installments and expire upon the employee's termination of employment.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal annual installments and expire upon the employee's termination of employment.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal annual installments and expire upon the employee's termination of employment.

Each Restricted Stock Unit represents a contingent right to receive one Common Share of Invesco Ltd.

The Restricted Stock Units vest in four equal annual installments and expire upon the employee's termination of employment.

The Restricted Stock Unit represents a contingent right to receive on Common Share oof Invesco Ltd.

The Restricted Stock Units vest in one installment on the third anniversary of the grant date and expire upon the employee's termination of employment.