Victory Capital Completes Acquisition of Amundi US, Expanding Global Asset Management Capabilities

San Antonio, TX – April 1, 2025 – Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) announced today the successful completion of its previously disclosed acquisition of Amundi US, the U.S. asset management business of Amundi Asset Management S.A.S., a subsidiary of Amundi S.A.

Under the terms of the Contribution Agreement signed on July 8, 2024, Amundi contributed 100% of the shares of Amundi US to Victory Capital. In exchange, Victory Capital issued:

3,293,471 shares of newly issued common stock, and

14,305,982 shares of a newly created Series A Non-Voting Convertible Preferred Stock.

Combined, these shares represent approximately 21.2% of Victory Capital’s fully diluted outstanding shares post-transaction.

In conjunction with the closing:

A Shareholder Agreement was executed outlining governance rights for Amundi.

A Certificate of Designations was filed to establish the rights of the new preferred shares.

The Company amended and restated its Distribution and Services Agreements with Amundi and its affiliates.

As part of the board governance terms, Céline Boyer-Chammard and Dominique Carrel-Billiard were appointed to Victory Capital’s Board of Directors as Amundi’s nominees. Concurrently, Bob Hurst, a Crestview Partners designee, retired from the Board following Crestview’s ownership dropping below 10%.

Victory Capital noted that the acquisition enhances its global scale and capabilities, particularly in active asset management across institutional and retail channels.