INVESCO DB BASE METALS FUND

The Fund has no employees, officers or directors. The Managing Owner receives a monthly Management Fee of 1/12th of 0.75% per annum of the daily NAV of the Fund at the end of each month.

For the year ended December 31, 2025, the Fund incurred Management Fees of $925,668 of which $827,013 had been paid at December 31, 2025. Management Fees of $98,655 were unpaid at December 31, 2025 and are reported as a liability on the Statements of Financial Condition.

For the year ended December 31, 2025, the Fund incurred brokerage commissions of $66,863 of which $66,863 had been paid at December 31, 2025. There were no unpaid brokerage commissions at December 31, 2025.

For the year ended December 31, 2024, the Fund incurred Management Fees of $1,019,508 of which $945,000 had been paid at December 31, 2024. Management Fees of $74,508 were unpaid at December 31, 2024 and are reported as a liability on the Statements of Financial Condition.

For the year ended December 31, 2024, the Fund incurred brokerage commissions of $45,471 of which $40,536 had been paid at December 31, 2024. Brokerage commissions of $4,935 were unpaid at December 31, 2024 and are reported as a liability on the Statements of Financial Condition.

For the year ended December 31, 2023, the Fund incurred Management Fees of $1,388,263 of which $1,312,261 had been paid at December 31, 2023. Management Fees of $76,002 were unpaid at December 31, 2023 and are reported as a liability on the Statements of Financial Condition.

For the year ended December 31, 2023, the Fund incurred brokerage commissions of $70,885 of which $65,871 had been paid at December 31, 2023. Brokerage commissions of $5,014 were unpaid at December 31, 2023 and are reported as a liability on the Statements of Financial Condition.