Victory Capital Holdings, Inc. Class A Common Stock · NASDAQ:VCTR
Victory Capital Holdings, Inc. Class A Common Stock — Merger or Acquisition (August 2026)
10 slides from Victory Capital Holdings, Inc. Class A Common Stock's merger presentation, Aug 26, 2026
Slide 1: Victory Capital to Acquire First Eagle Investments
Victory Capital to Acquire First Eagle Investments Creating a $571 billion diversified global asset manager August 26, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This investor presentation and the accompanying press release dated August 26, 2026 (together, "these materials") contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable U.S. federal and non-U.S. se
Slide 3: Important Disclosures
Important Disclosures Non-GAAP Financial Measures This presentation and the related press release issued on August 26, 2026 contains non-GAAP financial measures, including adjusted earnings per share and net leverage, presented on a Victory Capital standalone, First Eagle standalone and/or pro forma
Slide 4: Transaction creates an even more competitive company
Transaction creates an even more competitive company Victory Capital's acquisition of First Eagle Investments delivers scale, product expansion, greater distribution breadth and depth, and a scaled CLO and alternative credit platform. Accretive to Earnings Larger Platform Wider Reach from Day 1 Ad
Slide 5: First Eagle adds complementary capabilities
First Eagle adds complementary capabilities $222Bn $1.5Bn 3 92% Assets Under 2026 Expected Consecutive years of AUM 4 or 5 Star Overall Management Revenue positive net flows and Morningstar rating2 YTD 20261 Firm Profile Distribution Reach First Eagle Investments is an independent, ~103,000 U.S.
Slide 6: Acquisition broadens expertise and product set
Acquisition broadens expertise and product set Investment Capabilities Distribution Channels Global Value Multi-Asset $134.9Bn, 61% International 16% U.S. Intermediary Equity and 67% Fixed Income $45.6Bn, 21% U.S. Institutional Alternative Credit 17% $14.9Bn, CLOs 6% $26.5Bn, 12% Vehicle Mix 24 235
Slide 7: An Even More Balanced Platform
An Even More Balanced Platform Pro Forma organization – Total Client Assets by Asset Class Victory Capital First Eagle Pro Forma $348.8Bn $222.0Bn $570.8Bn Global Multi Asset 6% 61% 27% U.S. Equity 31% 7% 21% Fixed Income 24% 9% 18% Solutions 26% - 16% Global / Non-U.S. Equity 11% 5% 9% CLOs - 12% 5
Slide 8: Proven Track Record of Achieving Net Expense Synergies
Proven Track Record of Achieving Net Expense Synergies ~$280MM 14% 27% ~35% Full Run Rate Net Expense of Pro Forma Combined of First Eagle Investments Accretive to 2027E Synergies1 Expense Base2 Expense Base2 adj. EPS Previous Transactions % of acquired Initial Net Expense Total Net Expense Transact
Slide 9: Transaction Summary
Transaction Summary Key Terms Total consideration Approximately $7.0 billion for 100% of First Eagle Investments Consideration mix $2.0Bn of newly issued Victory Capital equity at $116.26 per share, with approximately $4.4Bn in cash. Fully committed financing from Bank of America Securities and RBC
Slide 10: First Eagle AUM and Performance Disclosures
First Eagle AUM and Performance Disclosures AUM Disclosures The First Eagle total AUM represents the combined AUM and assets under advisement of First Eagle Investment Management, LLC, First Eagle Separate Account Management, LLC, Napier Park Global Capital (Napier Park), First Eagle Alternative Cre
Victory Capital Holdings — Merger or Acquisition (August 2026) on 6ix