ATLANTA, Oct. 20, 2023 - Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE: IVZ), announced today additional details concerning the liquidation of the Invesco High Income 2023 Target Term Fund (NYSE: IHIT) (the "Fund"). In accordance with its investment objectives and organizational documents, the Fund plans to terminate its existence and liquidate on or about December 1, 2023 (the "Termination Date").

As the Fund prepares for its liquidation on the Termination Date, the Fund will deviate from its stated investment strategy to primarily invest in securities collateralized by loans secured by real properties and from certain investment policies as the Fund's portfolio managers increase the Fund's assets held in high quality, short-term securities, U.S. Treasury securities, and cash and cash equivalents. As the Fund's portfolio securities continue to mature and are sold, the Fund's portfolio will continue to transition into high quality, short-term securities, U.S. Treasury securities or cash and cash equivalents. As of October 18, 2023, the Fund's portfolio consisted of approximately 95% cash and cash equivalents and 5% longer term securities.

The Fund's investment objectives are to provide a high level of current income and to return $9.835 per share (the original net asset value ("NAV") per Common Share before deducting offering costs of $0.02 per share) ("Original NAV") to common shareholders on the Termination Date. As previously disclosed, based on current market conditions, management anticipates that the Fund's objective of returning the Original NAV to common shareholders on or about the Termination Date will not be met. The objective to return the Fund's Original NAV is not an express or implied guarantee obligation of the Fund and is dependent on a number of factors. As of October 18, 2023, the Fund's NAV per share was $7.12.

As the Fund approaches liquidation, its common shares will continue trading on the New York Stock Exchange through November 27, 2023 and will be suspended from trading before the open of trading on November 28, 2023. The Fund will declare its regular monthly distribution in November 2023 and expects that all other accumulated earnings will be included in the final liquidating distribution. The Fund anticipates making its final liquidating distribution on or about the Termination Date. However, if the Fund is not able to liquidate all of its assets prior to the Termination Date, subsequent to the final liquidating distribution the Fund may make one or more small additional distributions of any cash received from ultimate liquidation of those assets.

Shareholders may recognize a gain or loss for U.S. tax purposes as a result of the liquidation of the Fund. Invesco does not provide tax advice; shareholders should consult a professional tax advisor regarding their specific tax situation.

For more information, call 1-800-341-2929.

This communication is not intended to, and shall not, constitute an offer to purchase or sell shares of any of the Invesco Funds, including the Fund.

About Invesco Ltd.
Invesco Ltd. is a global independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. Our distinctive investment teams deliver a comprehensive range of active, passive, and alternative investment capabilities. With offices in more than 20 countries, Invesco managed $1.5 trillion in assets on behalf of clients worldwide as of June 30, 2023. For more information, visit www.invesco.com.

Invesco Distributors, Inc. is the U.S. distributor for Invesco Ltd.'s retail products. Invesco Advisers, Inc. is an investment adviser; it provides investment advisory services to individual and institutional clients and does not sell securities. Each entity is a wholly owned, indirect subsidiary of Invesco Ltd.

Note: There is no assurance that a closed-end fund will achieve its investment objective. Common shares are bought on the secondary market and may trade at a discount or premium to NAV. Regular brokerage commissions apply.

NOT A DEPOSIT l NOT FDIC INSURED l NOT GUARANTEED BY THE BANK | MAY LOSE VALUE | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Media Relations Contact: Jeaneen Terrio, Jeaneen.Terrio@invesco.com, 212-278-9205

SOURCE Invesco Ltd.