On October 18, 2018, OppenheimerFunds provided a copy of this letter to clients. This communication followed a press release announcing that Invesco Ltd. and Massachusetts Mutual Life Insurance Company entered into a definitive agreement, whereby Invesco would acquire OppenheimerFunds. The combined firm would be among the largest asset managers globally, with more than $1 trillion AUM, creating significant scale benefits for clients and shareholders. Additionally, MassMutual would become a long-term strategic shareholder in Invesco. 84 * The Right Way to Invest: 60 Years of OppenheimerFunds