Quarterly Business Overview Amundi Transaction MOU Investment Performance Charts and Morningstar data as of March 31, 2024. 3 77% of fund AUM rated 4/5 stars Consistent growth in each channel over the past year Although it is not possible to identify all such risks and factors, they include, among others, the following: the fact that the Memorandum of Understanding is non-binding and there is no certainty that the negotiations will result in definitive agreements on the anticipated timeline, if at all, or t ...

NEWS RELEASE Victory Capital Reports Strong First-Quarter Results First-Quarter Highlights San Antonio, Texas, May 9, 2024 — Victory Capital Holdings, Inc. (NASDAQ: VCTR) ("Victory Capital" or "the Company") today reported financial results for the quarter ended March 31, 2024. "We achieved very strong results to start 2024," said David Brown, Chairman and Chief Executive Officer. "During the first quarter, our long-term gross and net flows improved quarter-over-quarter and year-over-year, reaching their be ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM to Commission file number: 001-38388 Victory Capital Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisd ...

Victory Capital Holdings, Inc. (NASDAQ:VCTR) Q4 2023 Earnings Conference Call February 8, 2024 5:00 PM ET Company Participants Matthew Dennis - Chief of Staff and Director of Investor Relations David Brown - Chairman and Chief Executive Officer Michael Policarpo - President, Chief Financial Officer and Chief Administrative Officer Conference Call Participants Michael Cho - JPMorgan Craig Siegenthaler - Bank of America Etienne Ricard - BMO Capital Markets Alex Bolstein - Goldman Sachs Adam Beatty - UBS Kenne ...

80%* 100% IctoryCapi 42 Total Mutual Funds and ETFs with 4- or 5-Star overall ratings 70% Total Mutual Funds and ETFs AUM with 4- or 5-Star overall ratings % of AUM outperforming benchmarks % of strategies outperforming benchmarks 84% 62%* | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|---------------|---------------|---------------|----------------|-------|---------------|---------------|---------------|----------------| | | | | | | | | | | | | | | | | 79% | | | 63% | 62% | 63% | | ...

Financial Data and Key Metrics Changes - Revenue for Q3 2023 was $209.7 million, up 2.7% from Q2 2023, benefiting from higher average AUM and one extra day in the quarter [20] - Adjusted EBITDA margin was 51.1%, marking the 13th consecutive quarter above the long-term guidance of 49% [7][32] - Adjusted net income rose to $1.18 per diluted share, a 6% increase from $1.11 in the previous quarter [8][21] - Assets under management (AUM) at quarter end were $153.5 billion, with average AUM increasing by 2.4% compared to Q2 2023 [19] Business Line Data and Key Metrics Changes - Long-term gross flows were $5.3 billion, while net long-term flows were negative $1.7 billion, indicating a decline in net flows [25] - WestEnd Advisors franchise reported positive net flows and significant distribution expansion, contributing to overall performance [10][14] - RS Global franchise has been net flow positive for 10 consecutive quarters, with strong performance metrics [27] Market Data and Key Metrics Changes - The overall market environment has seen many investors opting for cash and cash equivalents, impacting gross sales and allocations to higher-risk asset classes [25][46] - The company noted that 98% of WestEnd's AUM outperformed respective benchmarks over the five-year period, indicating strong market positioning [15] Company Strategy and Development Direction - The company is focusing on strategic investments in product development, technology, and digital marketing to enhance competitiveness [13] - There is an ongoing emphasis on inorganic growth opportunities, with a disciplined approach to evaluating potential acquisitions [17] - The consolidation of the INCORE franchise under the Victory Income Investors brand aims to enhance scalability and brand recognition [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for positive net flows in fixed income as investors may eventually reallocate from cash to traditional assets [40][46] - The company remains patient and selective regarding M&A opportunities, with a strong pipeline and improved execution capabilities [36][41] - Management highlighted the importance of strong investment performance as a key factor in attracting future investments [40] Other Important Information - The company generated $43 million in cash from monetizing a floating to fixed interest rate swap, enhancing financial flexibility [16][22] - Cash increased to $108 million at quarter end, reflecting a strategy to build cash reserves for future opportunities [21] Q&A Session Summary Question: Update on M&A pipeline and valuation multiples - Management indicated a full pipeline with improved execution capabilities, but no imminent transactions are expected [36] Question: Details on SMA and other flows - The growth in flows is primarily attributed to the WestEnd Advisors franchise, with expectations for continued growth in model business [37] Question: Promoting fixed income strategies - Management has built out distribution channels for the Victory Income Investors franchise and emphasized strong investment performance [40] Question: Potential size of transactions for M&A - Management is open to various transaction sizes and remains opportunistic in evaluating potential deals [41] Question: Impact of financing costs on M&A - Financing costs are not seen as a hurdle for executing transactions, given the company's strong cash generation capabilities [50] Question: Update on New Energy Capital's organic growth - Positive flows were noted, with optimism for continued growth in the renewable energy space [51] Question: Update on WestEnd's growth and platforms - WestEnd has expanded its platform presence and product offerings, showing strong growth potential [53]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 001-38388 Victory Capital Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other ju ...

Victory Capital Holdings, Inc. (NASDAQ:VCTR) Q2 2023 Earnings Call Transcript August 4, 2023 8:00 AM ET Company Participants Matthew Dennis - Chief of Staff and Director of Investor Relations David Brown - Chairman and Chief Executive Officer Michael Policarpo - President, Chief Financial Officer and Chief Administrative Officer Conference Call Participants Etienne Ricard - BMO Capital Markets Craig Siegenthaler - Bank of America Michael Brown - KBW Michael Cho - JPMorgan Alex Bolstein - Goldman Sachs Matth ...

Second Quarter 2023 Earnings Presentation August 4, 2023 Forward Looking Statements This presentation may contain "forward-looking" statements that are based on our beliefs and assumptions and on information currently available to us. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, competitive position and potential organic and inorganic growth opportunities. Forward-looking statements include all statements that are not hi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 001-38388 Victory Capital Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdi ...