This Invesco product, an Exchange Traded Certificate (ETC), is designed to mirror the spot price of gold, with each certificate fully backed by physical gold. Specifically, every certificate is collateralized by gold bullion stored securely in J.P. Morgan Chase Bank's vaults located in London. The certificates are issued by Invesco Physical Markets PLC (Invesco PMP), an Irish-registered entity, with administrative oversight provided by J.P. Morgan Administration Services (Ireland) Limited. Returns are generated from the physical gold holdings, which are revalued each day based on the London Bullion Market Association (LBMA) Gold price determined at the PM auction. A "swing bar" methodology is employed, ensuring that gold bullion equivalent to, or exceeding, the total value of the outstanding certificates is maintained in an allocated account under the issuer's name. The custodian's most recent report confirms that all gold bars within the ETC's segregated account were minted after 2012, thereby conforming to the LBMA Responsible Gold Guidance and upholding the highest ethical benchmarks. This guidance was established to prevent involvement in human rights violations, conflict financing, and to enforce stringent anti-money laundering and counter-terrorist financing measures throughout the gold supply chain. It is important to note that Invesco ETCs are classified as exchange-traded certificates, distinct from traditional funds or exchange-traded funds (ETFs). Investors should be aware that before March 27, 2018, this product was known as Source Physical Gold ETC; however, this name alteration did not affect its investment goals or any other product characteristics.

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