UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

Filed by the Registrant  ☒                             Filed by a Party other than the Registrant  ☐

Check the appropriate box:

INVESCO ADVANTAGE MUNICIPAL INCOME TRUST II

INVESCO BOND FUND

INVESCO CALIFORNIA VALUE MUNICIPAL INCOME TRUST

INVESCO HIGH INCOME 2023 TARGET TERM FUND

INVESCO HIGH INCOME 2024 TARGET TERM FUND

INVESCO HIGH INCOME TRUST II

INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST

INVESCO MUNICIPAL OPPORTUNITY TRUST

INVESCO MUNICIPAL TRUST

INVESCO PENNSYLVANIA VALUE MUNICIPAL INCOME TRUST

INVESCO QUALITY MUNICIPAL INCOME TRUST

INVESCO SENIOR INCOME TRUST

INVESCO TRUST FOR INVESTMENT GRADE MUNICIPALS

INVESCO TRUST FOR INVESTMENT GRADE NEW YORK MUNICIPALS

INVESCO VALUE MUNICIPAL INCOME TRUST

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

Proxy Voting Information

Annual Meeting of Shareholders of the Invesco Closed-End Funds

August 6, 2021 at 2:00 p.m. Central Daylight Time

Due to the coronavirus outbreak (COVID-19) and to support the health and well-being of the Funds’ shareholders, employees, and community, the Meeting this year will be conducted exclusively online via live webcast. To participate in the Meeting, shareholders will need to follow the instructions found on the proxy card and in the proxy statement. The Meeting will begin promptly at 2:00 p.m. Central Daylight Time. The Funds encourage you to access the Meeting prior to the start time leaving ample time for the check in. All shareholders will be required to enter their individual control number in order to enter the Meeting. Only shareholders of the Funds will be able to participate in the Meeting.

Proxy statements were mailed on or about June 28, 2021 to shareholders of record as of the close of business on May 10, 2021 for the Funds listed below. The purpose of the proxy statement is to elect certain trustees to the Board of Trustees for the Funds listed below and for Invesco Bond Fund, to approve the removal of the fundamental restriction prohibiting investments in options that are not options on debt securities or in closing purchase transactions, as reflected in Invesco Bond Fund’s registration statement . The proxy statement contains information about the proposals for which votes or voting instructions have been solicited. You can also access your Fund’s proxy statement, common questions regarding your Fund’s proposal(s), and your Fund’s annual report by clicking on the Fund name listed below.

Invesco Advantage Municipal Income Trust II (VKI)

Invesco Bond Fund (VBF)

Invesco California Value Municipal Income Trust (VCV)

Invesco High Income 2023 Target Term Fund (IHIT)

Invesco High Income 2024 Target Term Fund (IHTA)

Invesco High Income Trust II (VLT)

Invesco Municipal Income Opportunities Trust (OIA)

Invesco Municipal Opportunity Trust (VMO)

Invesco Municipal Trust (VKQ)

Invesco Pennsylvania Value Municipal Income Trust (VPV)

Invesco Quality Municipal Income Trust (IQI)

Invesco Senior Income Trust (VVR)

Invesco Trust for Investment Grade Municipals (VGM)

Invesco Trust for Investment Grade New York Municipals (VTN)

Invesco Value Municipal Income Trust (IIM)

How to vote

You may cast your vote by any of the following methods. However you choose to vote, it is important that you vote now to save the expense of additional solicitations.

If you have any questions...

If you have questions about your Closed-End Funds proxy statement or the voting process, please contact your financial consultant or call Invesco toll-free at (877) 520-8548, any business day between 7:30 a.m. and 4:30 p.m. CT.

If we have not received your proxy card after a reasonable amount of time, a representative from our proxy solicitation firm, Computershare Trust Company, N.A., may contact you to remind you to exercise your right to vote.

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QUESTIONS & ANSWERS:

We encourage you to read the proxy statement in full; however, the following represent some typical questions that shareholders may have regarding the proxy statement.

HOW DO I VOTE?

Voting may take place in the following ways:

WHAT IS THE PROPOSAL BEING PRESENTED AT THE SHAREHOLDER MEETING AND WHAT AM I BEING ASKED TO VOTE ON?

HOW DOES THE BOARD RECOMMEND THAT I VOTE?

The Board recommends that you vote FOR ALL of the nominees to the Board of Trustees.

WHY SHOULD I VOTE?

Every vote is important. If shareholders fail to vote their proxies, the Fund may not receive enough votes to go forward with the August 6, 2021 shareholder meeting. If this happens, additional solicitations may have to be made to obtain a quorum, or proxies may have to be resent to shareholders.

WHO HAVE WE CONTRACTED FOR THE SERVICES OF A PROXY SOLICITOR?

We have hired Computershare Trust Company, N.A. as the Fund’s proxy solicitor. If we do not receive your vote after a reasonable amount of time, you may receive a telephone call from them reminding you to vote your shares.

WILL MY VOTE BE CONFIDENTIAL USING THE ONLINE PROXY VOTING SYSTEM?

The Web proxy voting system offered by www.proxy-direct.com maintains security features designed to protect the confidentiality of your vote. These security features include:

HOW DO I SIGN THE PROXY CARD?

The following general rules for signing proxy cards may be of assistance to you and could help avoid the time and expense involved in validating your vote if you fail to sign your proxy card properly.

Individual and Joint Accounts: Shareholders and joint owners should sign exactly as their name appears in the account registration shown on the proxy card. If shares are held jointly, one or more owners should sign personally.

All Other Accounts: The capacity of the individual signing the proxy card (for example, “trustee”) should be indicated unless it is reflected in the form of registration. If a corporation, limited liability company, or partnership, please sign the full entity name and indicate the signer’s position with the entity.

WHAT IS THE DEADLINE FOR VOTING?

All votes must be received before or at the shareholder meeting, which will be held on August 6, 2021 at 2:00 p.m. Central Daylight Time online via live webcast.

WHERE CAN I FIND MORE INFORMATION CONCERNING THE PROPOSAL?

Further details about the proposal can be found in the proxy statement.

QUESTIONS & ANSWERS:

We encourage you to read the proxy statement in full; however, the following represent some typical questions that shareholders may have regarding the proxy statement.

HOW DO I VOTE?

Voting may take place in the following ways:

WHAT IS THE PROPOSAL BEING PRESENTED AT THE SHAREHOLDER MEETING AND WHAT AM I BEING ASKED TO VOTE ON?

HOW DOES THE BOARD RECOMMEND THAT I VOTE?

The Board recommends that you vote FOR ALL of the nominees to the Board of Trustees.

WHY SHOULD I VOTE?

Every vote is important. If shareholders fail to vote their proxies, the fund may not receive enough votes to go forward with the August 6, 2021 shareholder meeting. If this happens, additional solicitations may have to be made to obtain a quorum, or proxies may have to be resent to shareholders.

WHO HAVE WE CONTRACTED FOR THE SERVICES OF A PROXY SOLICITOR?

We have hired Computershare Trust Company, N.A. as the Fund’s proxy solicitor. If we do not receive your vote after a reasonable amount of time, you may receive a telephone call from them reminding you to vote your shares.

WILL MY VOTE BE CONFIDENTIAL USING THE ONLINE PROXY VOTING SYSTEM?

The Web proxy voting system offered by www.proxy-direct.com maintains security features designed to protect the confidentiality of your vote. These security features include:

HOW DO I SIGN THE PROXY CARD?

The following general rules for signing proxy cards may be of assistance to you and could help avoid the time and expense involved in validating your vote if you fail to sign your proxy card properly.

Individual and Joint Accounts: Shareholders and joint owners should sign exactly as their name appears in the account registration shown on the proxy card. If shares are held jointly, one or more owners should sign personally.

All Other Accounts: The capacity of the individual signing the proxy card (for example, “trustee”) should be indicated unless it is reflected in the form of registration. If a corporation, limited liability company, or partnership, please sign the full entity name and indicate the signer’s position with the entity.

WHAT IS THE DEADLINE FOR VOTING?

All votes must be received before or at the shareholder meeting, which will be held on August 6, 2021 at 2:00 p.m. Central Daylight Time online via live webcast.

WHERE CAN I FIND MORE INFORMATION CONCERNING THE PROPOSAL?

Further details about the proposal can be found in the proxy statement.

QUESTIONS & ANSWERS FOR:

INVESCO BOND FUND

We encourage you to read the proxy statement in full; however, the following represent some typical questions that shareholders may have regarding the proxy statement.

HOW DO I VOTE?

Voting may take place in the following ways:

WHAT ARE THE PROPOSALS BEING PRESENTED AT THE SHAREHOLDER MEETING AND WHAT AM I BEING ASKED TO VOTE ON?

HOW DOES THE BOARD RECOMMEND THAT I VOTE?

The Board recommends that you vote FOR ALL of the nominees to the Board of Trustees and FOR the proposal to remove the fundamental restriction as described above.

WHY SHOULD I VOTE?

Every vote is important. If shareholders fail to vote their proxies, the Fund may not receive enough votes to go forward with the August 6, 2021 shareholder meeting. If this happens, additional solicitations may have to be made to obtain a quorum, or proxies may have to be resent to shareholders.

WHO HAVE WE CONTRACTED FOR THE SERVICES OF A PROXY SOLICITOR?

We have hired Computershare Trust Company, N.A. as the Fund’s proxy solicitor. If we do not receive your vote after a reasonable amount of time, you may receive a telephone call from them reminding you to vote your shares.

WILL MY VOTE BE CONFIDENTIAL USING THE ONLINE PROXY VOTING SYSTEM?

The Web proxy voting system offered by www.proxy-direct.com maintains security features designed to protect the confidentiality of your vote. These security features include:

HOW DO I SIGN THE PROXY CARD?

The following general rules for signing proxy cards may be of assistance to you and could help avoid the time and expense involved in validating your vote if you fail to sign your proxy card properly.

Individual and Joint Accounts: Shareholders and joint owners should sign exactly as their name appears in the account registration shown on the proxy card. If shares are held jointly, one or more owners should sign personally.

All Other Accounts: The capacity of the individual signing the proxy card (for example, “trustee”) should be indicated unless it is reflected in the form of registration. If a corporation, limited liability company, or partnership, please sign the full entity name and indicate the signer’s position with the entity.

WHAT IS THE DEADLINE FOR VOTING?

All votes must be received before or at the shareholder meeting, which will be held on August 6, 2021 at 2:00 p.m. Central Daylight Time online via live webcast.

WHERE CAN I FIND MORE INFORMATION CONCERNING THE PROPOSALS?

Further details about the proposals can be found in the proxy statement.

Funds lnve.sco Advantage Municipal Inc-ome Tru.st II l n veu-a Bon d Fund I n veot o California Value Huni c:lpal I n come Trust l n VUCO Hig h lneome TNSt U l n ve.9co Hi gh Income 2023 Tar get Term Fund Jnve sc-a Hig h lncome 2024 Tar get Term Fund l n ve sco Municipal I n com e Opportunities Trust Inve sco Municipal Opportunity Trust ilark All [”””!Or . hhold Proposals 1 .01 EleetiOI\ o f TnHitees: Jack M. Fields Fund Sped fie Vote h’v c:o Advantage MuniCipal h’leome Trust II 0For 0 Withhold lnvesc:o Bond Fund 0For 0 V/ithl’104d h’v c:o c amornia ViUue Munieipal ln :ome Trust 0For 0 V/rthhold lnvesc:o High lnoome Trust II 0For 0 1//ithho.id h’v c:o High h’aHne 2023 Target T rm fund 0Fer 0 V/ithhold ll’lvesco High ll’loome 2024 Target Te m FuM 0For 0 ‘1/ithho.id lnvesco f’o1utlieipal Income Opportunitie’s Ttust 0Fer 0 V/ithhold ll’lvesco Munieipal Opportunttv Trost 0For 0 ‘1/ithho.id 1.02 Election o f Truslees: Maftin 1... Flanagan Fund Sped fi e Vote fnvesc:o Advantage Munidl)allnoom Tru-st II 0For0 w i.thh ok5 fnveseo Bond Fund 0For 0 Witl\hC ICS lnveseo Cl!l.irornia Velu Municipal lneome Trus.t 0For 0 Wi.thh okS h vesco High lnoome Trust 11 0For 0 Witl\hC ICS lnveseo High lnoome 2023 Taeget Te,rm f u M 0For 0 Wi.thh okS h vesco High lnoome 202 1 Target Term fuM 0For 0 WithhOld lnveseo t-1unlopal lncome Opporlunilli!‘S Trust 0For 0 V/i:thh o.ld lnvtsco t-1unieil)al Ol)poltunity Trust 0 For 0 WithhOld 1 . 0.3 Eleetlon or Trustees: Elilabei.J\ K.renuman Fund Sped fle Vote lnvtsco ACivante.ge t“lunid l)al lnoom Tl’u.st ll 0For 0 WithhOld lnvtsco Bond fund 0For 0 WtthhoJd lnvtsco California Velu e Muni cipal l ome: Trust 0For 0 Withhold lnvtsco High lnoome Trust 11 0For 0 Wi:thhoJd ln vesco High lnoome 2023 Target Term Fu M 0For 0 Withhold lnvtsco High lnoome 202 1 Target T Fu M 0For 0 Wi:thhoJd ln vesco 1unieipat Income Opporlunili.es Trust 0For 0 WithhOld lnvesco lunleipat Opl)ortunay Trust 0For 0 Vlflhhold

1.04 EleetiOI’I Of Truslees: Robert C. Troc:t:oli fund Spedfi e vot e ll’lveseo Advat tage Munidpal ll’loome Trust II 0 For 0 Wit hhOld ll’lveseo 80I’Id Fui’ICI 0 For 0 Wi thhOld ll’lveseo California Value Mul’lit:ipal II’ICome Trust 0 For 0 Wit hhOld ll’lveseo High ll’loome Trust II 0 For 0 Wi thhOld ll’lveseo High ll’loome 2023 Target Tertn Fund 0 For 0 Wi thhOld ll’lveseo High ll’loome 202 1 Target Te.rtn Fund 0 For 0 Wi thhOld ll’lveseo fo1ul’lieipal ll’lt:ome OpporLul’lilies Trust 0 For 0 Wi thhOld ll’lveseo fo1unieipal Opportul’li tv Trust 0 For 0 Wi thhOld 1.0 5 EleetiOI’I Of Truslees: James D. vaugM fund Spedfi e vote ll’lveseo ACivat tage Munid pal l l’loome Trust II 0 For 0 Wi thhOld ll’lveseo 80I’Id Fui’ICI 0 For 0 Wit hhOld ll’lveseo camornia Value Mul’lit:ipal II’ICotne Trust 0 For 0 Wi thhOld ll’lveseo High ll’loome Trust II 0 For 0 Wi thhOld ll’lveseo High ll’loome 2023 Target Tertn Fund 0 For 0 Wi thhOld ll’lveseo High ll’loome 202 1 Target Tertn Fund 0 For 0 Wi thhOld ll’lveseo fo1unieipal ll’lt:ome OpporLul’lilies Trust 0 For 0 Wi thhOld ll’lveseo fo1unieipal OpJ)ortul’li tv Trust 0 For 0 Wit hhOld 2 To epprove lfte removal 01 Lhe fundatnel’ltal r est:ri clion prohiDil iflg i twesltl’lents i l’l optioM that are I’IOt optiOI’IS o n debt seo.u ities o r it! t:IMil’lg purt:nase lri!I’ISI!CUOI’IS, as ren eeled il’l fund Spedfi e vot e fl’lveseo 80I’Id Ful’ld’s re-gistrat iOI’I stale«UML ll’lveseo 80I’Id Fui’ICI 0 For 0 Agai i’ISl 0 Abstail’l If you have quesUoM regardi l’lg lfte vo.ti l’lg pro :ess, please call Ca.n cel vote a Exi t Submit Vote 1-877- 520-854 8

Funds lnve.sco Advantage Municipal Inc-ome Tru.st II l n veu-a Bon d Fund I n veot o California Value Huni c:lpal I n come Trust l n VUCO Hig h lneome TNSt U l n ve.9co Hi gh Income 2023 Tar get Term Fund Jnve sc-a Hig h lncome 2024 Tar get Term Fund l n ve sco Municipal I n com e Opportunities Trust Inve sco Municipal Opportunity Trust ilark All [”””!Or . hhold Proposals 1 .01 EleetiOI\ o f TnHitees: Jack M. Fields Fund Sped fie Vote h’v c:o Advantage MuniCipal h’leome Trust II 0For 0 Withhold lnvesc:o Bond Fund 0For 0 V/ithl’104d h’v c:o c amornia ViUue Munieipal ln :ome Trust 0For 0 V/rthhold lnvesc:o High lnoome Trust II 0For 0 1//ithho.id h’v c:o High h’aHne 2023 Target T rm fund 0Fer 0 V/ithhold ll’lvesco High ll’loome 2024 Target Te m FuM 0For 0 ‘1/ithho.id lnvesco f’o1utlieipal Income Opportunitie’s Ttust 0Fer 0 V/ithhold ll’lvesco Munieipal Opportunttv Trost 0For 0 ‘1/ithho.id 1.02 Election o f Truslees: Maftin 1... Flanagan Fund Sped fi e Vote fnvesc:o Advantage Munidl)allnoom Tru-st II 0For0 w i.thh ok5 fnveseo Bond Fund 0For 0 Witl\hC ICS lnveseo Cl!l.irornia Velu Municipal lneome Trus.t 0For 0 Wi.thh okS h vesco High lnoome Trust 11 0For 0 Witl\hC ICS lnveseo High lnoome 2023 Taeget Te,rm f u M 0For 0 Wi.thh okS h vesco High lnoome 202 1 Target Term fuM 0For 0 WithhOld lnveseo t-1unlopal lncome Opporlunilli!‘S Trust 0For 0 V/i:thh o.ld lnvtsco t-1unieil)al Ol)poltunity Trust 0 For 0 WithhOld 1 . 0.3 Eleetlon or Trustees: Elilabei.J\ K.renuman Fund Sped fle Vote lnvtsco ACivante.ge t“lunid l)al lnoom Tl’u.st ll 0For 0 WithhOld lnvtsco Bond fund 0For 0 WtthhoJd lnvtsco California Velu e Muni cipal l ome: Trust 0For 0 Withhold lnvtsco High lnoome Trust 11 0For 0 Wi:thhoJd ln vesco High lnoome 2023 Target Term Fu M 0For 0 Withhold lnvtsco High lnoome 202 1 Target T Fu M 0For 0 Wi:thhoJd ln vesco 1unieipat Income Opporlunili.es Trust 0For 0 WithhOld lnvesco lunleipat Opl)ortunay Trust 0For 0 Vlflhhold

1.04 EleetiOI’l o f Trustees: Robert C. Troc:coli ful’ld Spedfi e Vote ll’lveseo t-1ul’lieipa1 Trusl 0For0 Wi thhOld fl’lveseo PeMsyrvania value Mt.n’li :ipal ll’l.Come Tru st 0 For 0 Wi thhOld ll’lveseo QuaUly Mul’lid pal II’IOOome Trust 0For0 Wi thhOld fl’lveseo Sel’liOr li’IOOome Trust 0 For 0 Wi thhOld ll’lveseo Tru st for fl’lvesti’MI’lt Grade t-1ul’!lieipal s 0For0 Wi thhOld fl’lveseo Tru st for fl’lvestmel’lt Grade NY Mul’li :ipals 0 For Q V/ithhOIO ll’lveseo value Mul’li :ipalll’leome Trust 0For0 Wi thhOld 1.0 5 EleetiOI’l Of Truslees: James D. vaughl’l ful’ld Sped fi e Vote ll’lveseo t-1ul’lieipa1 Trusl 0For0 Wi thhOld fl’lveseo PeMsyrvania value Mul’li :ipal ll’l.Come Tru st 0 For 0 Wi thhOld ll’lveseo QuaUly Munid pal II’IOOome Trust 0For0 Wi thhOld fl’lveseo Sel’liOr li’IOOome Trust 0 For 0 Wi thhOld ll’lveseo Tru st for fl’lvestmel’lt Grade t-1ul’!lieipal s 0For0 Wi thhOld fl’lveseo Tru st for fl’lvestmel’lt Grade NY Mul’li :iJ)aiS 0 For 0 Wi thhOld ll’lveseo value Mul’li :ipalll’leome Trust 0For0 Wi thhOld If yOou have quesUOoi’IS regardil’lg trte vOotil’lg pr«:ess , please call Ca.n cel vote 8i Exi t Submit Vote 1-8??- 520-85”‘8

Funds I n veo!$CO Advan tage Munidpal J:n eome Trust 11 l nve.sco California Value Municipal I ncome Trust Inve c-o High Jne:ome 2023 Tar get Tenn Fun d Inve co Municipal lncome OpJH)rtunities Trust I n ve.!le“o Municip a l Opport unity Trus t I nve.sc-a Municipal Trust Inve«o Pennsyl vania Value Municipal I ncome Trust l n veo!$CO Quality Hunldpal l ncome Trust l nve.sco Senior Incom e Trust l n ve.uo Trust for l n ve.stmen t Grade Munid pals I n ve.sco Trust ror I n vestment Grade NV Munic.Jpal.s I n ve.!le“o Vfllue Mun icipal In come Tru!tt I lark All Wit hhold Proposals 1.01 Eleetiol”’ or Trustees: Jack M. Fields Fund Spedri c vote hl \fesco Advantage MunicSpel ll”‘oome Trust ll 0For 0 Withho.JG ln \feseo Catirornia \fe.tue Mul”‘i cipaf ln.eome Trust 0For0 Withho.JG ln vHco High lt oome 2023 Target Term Fund 0For 0 Withho.JG lnvH co ,.1uniclpal Income Oppol’luniu.es Trust 0For0 Withho.JG ln vHCO l’ol unieipal OpportunJtV Trust 0For 0 Withho.JG lnvH CO ,.1unieipal TN Sl 0For0 Wtthhl)}d ln vHco Pel’l.t\Sylvania Value Mul’lk ipallncome Tru st 0For0 Vlithho.kl ln vesco Quality Munid pal lnoome Tru.st 0For0 vttthhl)}d ll’lvesco Sel’liOr ll”‘r.ome Tru.st 0For0 Vlithho.kl ln vesco Trust ror l.l’lvestmenl Gr-ade /‘o1unid pals 0For0 vttthhl)}d ll’lvesco Trutlror ll’lvestment Grade NY Mul’lkiJ: alS 0For 0 Wlthho.ld ln vesco Value Mul’lieipal lncome Trust 0For 0 Wtthh o.Jd 1.02 Elec:tlol’l. or Tn slees: Maftin L. Flanagan Fund Sped fi c Vote lnvtsco Advantage Munid p.!!l Jnoome Trust 11 0For 0 Vlflhho.Jd ln vesco Cal:ilortlia Valu e Municipal lnc:ome Trust 0For 0 Vlfthhold ln vtsco tUgh lnoome 2023 Target T mFund 0For0 vtrthho.Jd ln vesco l’o1unieipal ll’lcome Oppor tu n.iu.ts Trust 0For 0 Wfthho.ld ln.vtsco Munieipal Opportunttv Trust 0For 0 V/[thh o.ld ln vesco l’o1unid pat Tn st 0For 0 Vlfthho.ld ln vHeo PeM sytvani a Value Munk:ipal rncome Ttu s:l 0For0 V/[thh o.ld ln vesco Quatily Munid pal ll’loo.me Trust 0For 0 Vlfthho.ld ln vHeo SeniOr Jneome Trust 0For 0 V11thhMd ln vesco Tru s:l ror ln vestmel\t Grade l’o1unid pel s 0For 0 WlthhMd ln vesco Trusl ror ll’lvestmenl G ade NY Munki als 0For 0 V11thhMd ln vesco Value Ht.mki al fncome Trusl 0For 0 WlthhMd

1.03 EleetiOI’l o f Trustees: Elizabell\ Krel’lttman fund Sped fi e Vote fl’lveseo Advat tage Mul’lieipal11’1oome Trust II 0 For 0 WithhOold fl’lveseo Califor nia Value Mul’lieipal fl’l(!Otne Trust 0 For 0 WithhOold fl’lveseo High 11’1oome 2023 Target Te.rtn Fu M 0 For 0 WithhOold fl’lveseo l’lunieipal fi’IC:ome Opportunities Trust 0 For 0 WithhOold fl’lveseo t-l unieipal Opportunity Trust 0 For 0 WithhOold fl’lveseo fol unieipal Trust 0 For 0 WithhOold fl’lveseo Pennsylvania value Mul’li :ipal lneome Trust 0 For 0 WithhOold fl’lveseo Quality Munieipal 1noo.me Trust 0 For 0 Wi thhOold fl’lveseo Sel’liOr 1nMme Trust 0 For 0 WithhOold fl’lveseo Tru st for fl’lve stmel’lt Grade fol unieipal s 0 For 0 Wi thhOold fl’lveseo Tru st for fl’lve stment Grade NY Mul’li :ipaiS 0 For 0 WithhOold fl’lveseo value Mul’li :ipallneome Trust 0 For 0 WithhOold 1.04 EleetiOI’l o f Trustee s: Robert C. Troc:coli Fund Sped fi e vote fl’lveseo Advatltage Munieipal1noome Trust II 0 For 0 Wi thhOold fl’lveseo Catilor nia Value Municipal fl’l(!ome Trust 0 For 0 WithhOold ll’lveseo High 11’1oome 2023 Target Te.rtn Fu M 0 For 0 Wi thhOold ll’lveseo t-l unieipal ll’lc:ome Opportunities Trust 0 For 0 WithhOold ll’lveseo l’lunieipat Opportuni ty Trust 0 For 0 WithhOold ll’lveseo t-l unieipal Trust 0 For 0 WithhOold ll’lveseo PeMsyi’Vania value Mul’li :ipallneome Trust 0 For 0 WithhOold ll’lveseo Quality Munieipal 1noo.me Trust 0 For 0 WithhOold ll’lveseo Sel’liOr 1nMme Trust 0 For 0 WithhOold ll’lveseo Tru st for ll’lve stmel’lt Grade t-lunieipal s 0 For 0 WithhOold ll’lveseo Tru st for ll’lve stmetlt Grade NY Mul’li :ipals 0 For 0 Wi thhOold ll’lveseo value Mul’li :ipal lneome Trust 0 For 0 WithhOold 1.0 5 EleetiOI’l o f Trustees: James D. vaughl’l Fund Sped fi e vote ll’lveseo Advat tege Munieipal11’1oome Trust II 0 For 0 WithhOold ll’lveseo Califor nia Value Mul’licipal fl’l(!Otrle Trust 0 For 0 WithhOold ll’lveseo High 11’1oome 2023 Target Te.rtn Fu M 0 For 0 WithhOold ll’lveseo fol unieipai ii’IC:Ome Opportunities Trust 0 For 0 Wi thhOold ll’lveseo t-l unieipal Opportul’lity Trust 0 For 0 WithhOold ll’lveseo l’lunieipal Trust 0 For 0 Wi thhOold ll’lveseo PennsylVania value Mul’li :ipal lneome Trust 0 For 0 WithhOold ll’lveseo Quality MuniCipal 11\00oMe Trust 0 For 0 Wi thhOold ll’lveseo Sel’liOr 11\Mme Trust 0 For 0 WithhOold ll’lveseo Tru st for ll’lve stmetlt Grade fol unieipal s 0 For 0 WithhOold ll’lveseo Tru st for ll’lve stmel’lt Grade NY Mul’li :ipals 0 For 0 WithhOold ll’lveseo value Mul’li :ipallneome Trust 0 For 0 WithhOold If yo.u have queslioM regarding the votil’l9 pr«:ess, please can Ca.n cel vote a Exi t Submit vote 1-877- 520· 854 8

INVESCO FUNDS PROXY WO# 32121- TOUCH-TONE TELEPHONE VOTING SCRIPT

06/10/21

WHEN CONNECTED TO OUR PHONE VOTING SYSTEM ACCESSED VIA OUR TOLL-FREE NUMBER 1-800-337-3503, THE SHAREHOLDER HEARS:

THE INITIAL PROMPT:

“Thank you for calling the proxy voting line.”

“Before you can vote, I’ll need to validate some information from your proxy card or meeting notice.

On your card or notice there’s a shaded box with a 14 digit number inside. Please enter that number now.”                

AFTER THE SHAREHOLDER ENTERS THEIR 14 DIGIT CONTROL NUMBER, HE/SHE HEARS:

“Next, located in the un-shaded box is an 8 digit number. Please enter this number now.”

THEN YOU HEAR:

“Thank you. Please hold while I validate those numbers.”

IF VALID CODES WERE ENTERED, THE SHAREHOLDER WILL HEAR THE FOLLOWING GENERIC SPEECH:

“Okay, you’ll be voting your shares for the upcoming proxy meeting. The Board Recommends a vote “FOR” all proposals.”

IF CUSTOM GREETING IS APPROVED, THE SHAREHOLDER WILL HEAR THE FOLLOWING CUSTOM SPEECH:

Okay, you’ll be voting your proxy for shares in Invesco Funds. The Board Recommends a vote FOR” all proposals.

IF THERE IS A PRIOR VOTE IN THE SYSTEM FOR THE CONTROL NUMBER ENTERED YOU HEAR:

“ I see that you’ve already voted. If you don’t want to change your vote you can just hang-up. Otherwise,

remain on the line and I’ll take you through the voting process again...”

IF THERE IS NO PRIOR VOTE, THE FOLLOWING IS HEARD:

“I’m about to take you through the voting process. Please keep your voting card or meeting notice in front

of you to follow along. Okay, let’s begin…”

EXAMPLE “ELECTION OF BOARD MEMBER” PROPOSAL PROMPTS WHEN A SINGLE FUND IS HELD FOR THE PROPOSAL:

“PROPOSAL 1:    To vote FOR ALL nominees, Press 1.                To WITHHOLD your vote from all nominees, press 2.

Or to WITHHOLD YOUR VOTE FROM INDIVIDUAL nominees press 3.”

IF THE SHAREHOLDER PRESSES 1, TO VOTE FOR ALL NOMINEES THEY WILL HEAR:

“Okay, voting for all nominees”

IF THE SHAREHOLDER PRESSES 2, TO WITHHOLD FROM ALL NOMINEES THEY WILL HEAR:

“Okay, voting withhold on all nominees “

IF THE SHAREHOLDER PRESSES 3, TO WITHHOLD FROM INDIVIDUAL NOMINEES THEY WILL HEAR:

“Okay, we’ll withhold your vote on the nominees you specify. All other nominees will be voted FOR. “

THEN THEY HEAR: “For each nominee listed on your proxy card or meeting notice there’s a corresponding

two-digit number. Please enter the number of the nominee from whom you wish to withhold your vote.”

AFTER THE SHAREHOLDER ENTERS A NOMINEE NUMBER TO WITHHOLD FROM, HE/SHE HEARS:

“OK, withholding your vote from nominee number N” [Where N is the nominee number entered]”

THEN THE SHAREHOLDER HEARS:

“To withhold your vote from another nominee, enter the two-digit number. If there are no other nominees

from whom you wish to withhold your vote press # (pound).”

WHEN # IS PRESSED, THE SHAREHOLDER HEARS:

“Okay, finished withholding from nominees”

EXAMPLE “ELECTION OF BOARD MEMBER” PROPOSAL PROMPTS WHEN MULTIPLE FUNDS ARE HELD FOR THE PROPOSAL:

“PROPOSAL 1 FOR HOLDING 1: To vote FOR ALL nominees, Press 1. To WITHHOLD your vote from all nominees, press 2.

Or to WITHHOLD YOUR VOTE FROM INDIVIDUAL nominees press 3.”

IF THE SHAREHOLDER PRESSES 1, TO VOTE FOR ALL NOMINEES FOR THE FIRST HOLDING THEY WILL HEAR:

Okay, for the 1^st holding listed on this proposal you just voted “For All” Nominees.

To vote the same way for all other holdings listed, press 1; To vote for each holding individually, press 2.

IF THE SHAREHOLDER PRESSES 2, TO WITHHOLD YOUR VOTE FROM ALL NOMINEES FOR THE FIRST HOLDING THEY WILL HEAR:

Okay, for the 1^st holding listed on this proposal you just voted to withhold your vote from all Nominees.

To vote the same way for all other holdings listed, press 1; To vote for each holding individually, press 2.

IF THE SHAREHOLDER PRESSES 3, TO WITHHOLD FROM INDIVIDUAL NOMINEES FOR THE FIRST HOLDING THEY WILL HEAR:

“Okay, we’ll withhold your vote on the nominees you specify. All other nominees will be voted FOR. “

THEN THEY HEAR: “For each nominee listed on your proxy card or meeting notice there’s a corresponding

two-digit number. Please enter the number of the nominee from whom you wish to withhold your vote.”

AFTER THE SHAREHOLDER ENTERS A NOMINEE NUMBER TO WITHHOLD FROM, HE/SHE HEARS:

“OK, withholding your vote from nominee number N” [Where N is the nominee number entered]”

THEN THE SHAREHOLDER HEARS:

“To withhold your vote from another nominee, enter the two-digit number. If there are no other nominees

from whom you wish to withhold your vote press # (pound).”

WHEN # (POUND) IS PRESSED, THE SHAREHOLDER HEARS:

“Okay, finished withholding from nominees”

THEN THE SHAREHOLDER HEARS:

Okay, for the 1^st holding listed on this proposal you just voted to withhold your vote from nominee(s)…N” [Where N is(are) the

nominee number(s) entered by the SHAREHOLDER]

To vote the same way for all other holdings listed, press 1; To vote for each holding individually, press 2.

IF THE SHAREHOLDER CHOOSES OPTION 1, TO VOTE THE SAME WAY FOR ALL OTHER HOLDINGS ON THE NOMINEE PROPOSAL:

Okay, I’ll apply the same vote to all other holdings listed.

IF THE SHAREHOLDER CHOOSES OPTION 2, TO VOTE FOR EACH HOLDING INDIVIDUALLY:

Okay, let’s continue then…

THEN THE SHAREHOLDER HEARS PROMPTS FOR THE NEXT HOLDING [This is repeated until all holdings are voted on]:

Example: “For Holding 2: To vote FOR ALL nominees, Press 1. To WITHHOLD your vote from all nominees, press 2.                

Or to WITHHOLD YOUR VOTE FROM INDIVIDUAL nominees press 3.”

THEN, MATCHING THE SHAREHOLDER PROXY CARD, THEY WILL BE PROMPTED FOR VOTING AS FOLLOWS:

“PROPOSAL 2:    “To vote FOR Press 1;    AGAINST Press 2;    Or to ABSTAIN Press 3”

WHEN THE SHAREHOLDER HAS COMPLETED VOTING ON THE PROPOSAL(S), HE/SHE WILL HEAR:

“Okay, you’ve finished voting but your vote has not yet been recorded.”

“To hear a summary of how you voted, press 1; To record your vote, Press 2.”

IF THE SHAREHOLDER PRESSES 1, TO HEAR A SUMMARY OF THEIR VOTES, HE/SHE WILL HEAR:

“Please note your vote will be cast automatically should you decide to hang up during the summary.”

“You’ve elected to vote as follows...” [THEN A PLAYBACK OF THE VOTES COLLECTED FOR EACH PROPOSAL IS HEARD]

AFTER THE VOTE PLAYBACK, THE SHAREHOLDER HEARS:

“If this is correct, press 1; Otherwise, press 2. If you’d like to hear the information again press # (pound).”

IF THE CALLER CHOOSES TO RECORD THEIR VOTE (EITHER BEFORE OR AFTER THE SUMMARY IS HEARD), THEY HEAR:

“(Okay) Please hold while I record your vote.”

THEN THEY HEAR:

“Your vote has been recorded. It’s not necessary for you to mail in your proxy card or meeting notice.

I’m now going to end this call unless you have another proxy card or meeting notice to vote or you want to change

your vote. If you need to vote again, press one now.”

IF THE SHAREHOLDER PRESSES 2, INDICATING AN INCORRECT VOTE, HE/SHE WILL HEAR:

“Okay, lets change your vote.” [The system then prompts the voting options again.]

AFTER THE SHAREHOLDER’S VOTE IS RECORDED, IF THEY ELECT TO VOTE ANOTHER PROXY, HE/SHE HEARS:

“Before you can vote, I’ll need to validate some information from your proxy card or meeting notice. On your card or notice

there’s a shaded box with a 14 digit number inside. Please enter that number now.”

IF THE SHAREHOLDER ELECTS TO END THE CALL, HE/SHE WILL HEAR:    

“Thank you for voting, goodbye.”

Thank you for calling Invesco.

If you have questions regarding the Annual Shareholder Meeting for the Invesco Closed-End Funds taking place on August 6, 2021, Press 1.

If you plan to attend the Annual Shareholder Meeting for the Invesco Closed-End Funds, Press 2.