Company: OIA
Filing Date: 2025-11-07
Form Type: N-CSRS
Source: 0001193125-25-271173
Chunk: 0

Company: Invesco Municipal Income Opportunities Trust
Filing Date: 2025-11-07
Form: N-CSRS
Chunk 0
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Important Notice Regarding Share Repurchase Program In September 2025, the Board of Trustees of the Trust approved a share repurchase program that allows the Trust to repurchase up to 25% of the 20-dayaverage trading volume of the Trust’s common shares when the Trust is trading at a 10% or greater discount to its net asset value. The Trust will repurchase shares pursuant to this program if the Adviser reasonably believes that such repurchases may enhance shareholder value.

| 2 |     | Invesco Municipal Income Opportunities Trust |

Dividend Reinvestment Plan The dividend reinvestment plan (the Plan) offers you a prompt and simple way to reinvest your dividends and capital gains distributions (Distributions) into additional shares of your Invesco closed-endTrust (the Trust). Under the Plan, the money you earn from Distributions will be reinvested automatically in more shares of the Trust, allowing you to potentially increase your investment over time. All shareholders in the Trust are automatically enrolled in the Plan when shares are purchased.

Plan benefits

| ∎ |     | Add to your account: |

You may increase your shares in your Trust easily and automatically with the Plan.

| ∎ |     | Low transaction costs: |

Shareholders who participate in the Plan may be able to buy shares at below-market prices when the Trust is trading at a premium to its net asset value (NAV). In addition, transaction costs are low because when new shares are issued by the Trust, there is no brokerage fee, and when shares are bought in blocks on the open market, the per share fee is shared among all participants.

| ∎ |     | Convenience: |

You will receive a detailed account statement from Computershare Trust Company, N.A. (the Agent), which administers the Plan. The statement shows your total Distributions, date of investment, shares acquired, and price per share, as well as the total number of shares in your reinvestment account. You can also access your account at invesco.com/closed-end.

| ∎ |     | Safekeeping: |

The Agent will hold the shares it has acquired for you in safekeeping. Who can participate in the Plan If you own shares in your own name, your purchase will automatically enroll you in the Plan. If your shares are held in “street name” – in the name of your brokerage firm, bank, or other financial institution – you must