FXY Invesco CurrencyShares Japanese Yen Trust

On May 18, 2020, the Board of Managers (the “Board”) of Invesco Specialized Products, LLC, the sponsor (the “Sponsor”) of Invesco CurrencyShares^® Japanese Yen Trust, appointed Ms. Anna Paglia to serve as the Principal Executive Officer of the Sponsor, effective after the close of business on June 12, 2020 (the “Effective Date”). Ms. Paglia has also been elected to serve as a member of the Board, effective after the close of business on the Effective Date, and will replace Mr. Daniel Draper, who, as previously disclosed, gave notice of his resignation as Principal Executive Officer and member of the Board of the Sponsor. Mr. Draper’s resignation will also be effective after the close of business on the Effective Date.

The business biography of Ms. Paglia is as follows:

Anna Paglia (46) currently serves as Head of Legal, US ETFs at Invesco, Ltd., a global investment management company and affiliate of the Sponsor (“Invesco”), and has served in such capacity since September 2010. In that role, she is responsible for the registration and listing of exchange-traded funds (“ETFs”), as well as providing support to the Invesco US ETF Board, serving as a global ETF expert/resource and providing day-to-day support to Invesco and its affiliates. In addition, she is a team leader for, and provides legal support to, Invesco’s unit investment trusts. Prior to joining Invesco, Ms. Paglia was a partner in the investment management group at K&L Gates LLP and in that role she served as fund counsel and counsel to the independent directors for a number of mutual funds and ETFs. Ms. Paglia earned a JD from L.U.I.S.S. Law School in Rome, a law school certificate from Kingston University School of Law in London and a master’s degree from Northwestern University School of Law in Chicago. She is admitted to practice law in Illinois and New York.

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