Nasdaq statement on the preliminary proxy filed by Invesco QQQ Trust and the proposals contained within it

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Nasdaq (NASDAQ:NDAQ) has responded to the preliminary proxy filing by Invesco QQQ Trust regarding proposed changes to its trust structure. The company clarified that these changes would not affect Nasdaq's licensing arrangements with Invesco or the administration of the Nasdaq-100® Index.

The key change would involve Invesco paying the license fee through its unitary management fee, rather than QQQ paying it directly. Nasdaq affirmed its commitment to maintaining its strategic partnership with Invesco and continuing to provide the benchmark index for investors.

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NEW YORK, July 18, 2025 (GLOBE NEWSWIRE) -- Today, Nasdaq issued the following statement on the preliminary proxy filed by Invesco QQQ Trust and the proposals contained within it.

Nasdaq is aware of the preliminary proxy that was filed by Invesco QQQ Trust and the proposals contained within it. Invesco and Nasdaq were engaged in dialogue as Invesco explored bringing these proposals to shareholders.

The proposed change to the Trust structure does not alter the terms of Nasdaq’s licensing arrangements with Invesco nor the administration of the Nasdaq-100^® Index. If the proposals are approved, Invesco will pay the associated license fee out of its unitary management fee, as compared to the current state where the license fee is paid by QQQ directly.

We remain committed to our strategic partnership with Invesco and delivering the trusted benchmark on which investors rely.

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements regarding our future financial results and our partnerships, agreements, products and services. Further information on these and other factors are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q, which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise

-NDAQF-

Media Contacts: Maximilian Leitenberger, Nasdaq, Maximilian.leitenberger@nasdaq.com

Investor Relations Contact: Ato Garrett, Ato.Garrett@Nasdaq.com

FAQ

What changes are proposed in the Invesco QQQ Trust preliminary proxy filing?

The main change proposed is that Invesco would pay the license fee through its unitary management fee, instead of QQQ paying it directly. The trust structure change does not affect Nasdaq's licensing arrangements or the Nasdaq-100® Index administration.

How will the proposed QQQ Trust changes affect Nasdaq's licensing arrangements?

According to Nasdaq's statement, the proposed changes to the Trust structure will not alter the terms of Nasdaq's licensing arrangements with Invesco or the administration of the Nasdaq-100® Index.

Will the Invesco QQQ Trust structure changes impact Nasdaq's revenue?

The changes only affect how the license fee is paid (through Invesco's unitary management fee instead of directly by QQQ), with no indicated impact on the actual licensing arrangement terms.

What is Nasdaq's position on the Invesco QQQ Trust proposed changes?

Nasdaq acknowledged the proposals and confirmed they were in dialogue with Invesco during the process. They stated their commitment to maintaining their strategic partnership with Invesco and continuing to deliver their trusted benchmark index.