Company: OIA
Filing Date: 2025-11-07
Form Type: N-CSRS
Source: 0001193125-25-271173
Chunk: 20

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-11-07
Form: N-CSRS
Chunk 20
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 approved the renewal of the Fund’s investment advisory agreement and the sub-advisorycontracts and determined that the compensation payable thereunder by the Fund to Invesco Advisers and by Invesco Advisers to the Affiliated Sub-Advisersis fair and reasonable. The Board’s Evaluation Process The Board has established an Investments Committee, which in turn has established Sub-Committees.The Sub-Committeesmeet regularly throughout the year with portfolio managers and other members of management to review information about the investment performance and portfolio attributes for those funds advised by Invesco Advisers (Invesco Funds) assigned to them. The Board has established additional standing and ad hoc committees that meet throughout the year to review matters within their purview, including a working group focused on opportunities to make ongoing and continuous improvements to the Board’s annual review process for the Invesco Funds’ investment advisory agreement and sub-advisorycontracts (the annual review process). In considering whether to approve each Invesco Fund’s investment advisory agreement and sub-advisorycontracts, the Board took into account evaluations and reports that it received from its committees and sub-committees,as well as the information provided to the Board and its committees and sub-committeesthroughout the year. As part of the annual review process, the Board reviews and considers information provided in response to requests for information submitted to management by the independent Trustees with assistance from legal counsel to the independent Trustees (independent legal counsel) and the Senior Officer, an officer of the Invesco Funds who reports directly to the independent Trustees. The Board receives comparative investment performance and fee and expense data regarding the Invesco Funds prepared by Broadridge Financial Solutions, Inc. (Broadridge), an independent provider of investment company data, as well as information on the composition of the peer groups and its methodology for determining peer groups. The Board also receives an independent written evaluation from the Senior Officer. The Senior Officer’s evaluation is prepared as part of his responsibility to manage the process by which the Invesco Funds’ proposed management fees are negotiated during the annual review process to

ensure they are negotiated in a manner that is at arms’ length and reasonable in accordance with certain negotiated regulatory requirements. In addition to meetings with Invesco Advisers and fund counsel throughout the year and as part of meetings convened on May 6, 2025 and June 16-18,2025, the independent Trustees also discussed the continuance of the investment advisory agreement and sub-advisorycontracts in separate sessions with the Senior Officer