FXY Invesco CurrencyShares Japanese Yen Trust

On October 27, 2020, Mr. Jordan Krugman was appointed to the Board of Managers (the “Board”) of Invesco Specialized Products, LLC (the “Sponsor”) of Invesco CurrencyShares^® Japanese Yen Trust as of the close of business on October 30, 2020 (the “Effective Date”). Mr. Krugman will serve as a member of the Board until his successor is duly designated and qualified or until his earlier death, resignation or removal. Mr. Krugman will replace Ms. Kristie Feinberg, who, as previously disclosed, gave notice of her resignation as a member of the Board of the Sponsor. Ms. Feinberg’s resignation also will be effective as of the close of business on the Effective Date.

Mr. Krugman’s business biography is as follows:

Jordan Krugman (43) is Chief Financial Officer of the Americas for Invesco Ltd., a global investment management company affiliated with the Sponsor. He was appointed to this position in October 2020. In this capacity, Mr. Krugman is responsible for general management support, in addition to executing on various strategic initiatives and overseeing the financial framework for the business units operating within the Americas division of Invesco Ltd. He has also served as a Member of the Board of Managers of the Sponsor since October 2020. From March 2019 to October 2020, Mr. Krugman served as the Global Head of Financial Planning and Analysis at Invesco Ltd. In this role, he was responsible for overseeing Invesco’s forecasting, budgeting, strategic planning and financial target setting processes, including analytics and decision support for Invesco Ltd.’s executive team. From March 2017 to March 2019, Mr. Krugman served as Invesco Ltd.’s Head of Finance & Corporate Strategy, North America. In this role, Mr. Krugman was responsible for strategic and financial planning for Invesco Ltd.’s global investments organization, including global real estate, private equity and global fixed income. Prior to that, Mr. Krugman was Invesco Ltd.’s Treasurer and Head of Investor Relations from May 2011 to March 2017. In this role, he was responsible for management of Invesco Ltd.’s liquidity and capital management programs. Additionally, Mr. Krugman managed the communication with Invesco Ltd.’s external stakeholders, including equity shareholders, debt investors, rating agencies and research analysts. Mr. Krugman earned a BA degree in American civilizations, with a US history concentration, from Middlebury College in Vermont in 1999, and earned an MBA from Santa Clara University in California in 2007. He is a Certified Treasury Professional (CTP).

The specific experience, qualifications, attributes and skills that led to the conclusion that Mr. Krugman should serve on the Board were his prior and current experience in financial management, investor relations and business strategy.

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