Victory Capital Reports November 2025 Total Client Assets

About this update from Victory Capital Holdings, Inc. Class A Common Stock

SAN ANTONIO--(BUSINESS WIRE)-- Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today reported Total Assets Under Management (AUM) of $314.8 billion, Other Assets of $2.8 billion, and Total Client Assets of $317.7 billion, as of November 30, 2025. For the month of November, Average Total AUM was $312.4 billion, average Other Assets was $2.8 billion, and average Total Client Assets was $315.2 billion. Victory Capital Holdings, Inc. Total Client Assets (unaudited; in millions) 1 As of: By Asset Class Nov. 30, 2025 Oct. 31, 2025 Solutions $ 90,131 $ 88,725 Fixed Income 80,827 80,555 U.S. Mid Cap Equity 31,024 30,682 U.S. Small Cap Equity 12,242 12,230 U.S. Large Cap Equity 63,624 64,409 Global / Non-U.S. Equity 30,229 29,719 Alternative Investments 2,993 2,975 Total Long-Term Assets $ 311,070 $ 309,294 Money Market / Short Term Assets 3,777 3,745 Total Assets Under Management2 $ 314,846 $ 313,039 By Vehicle Mutual Funds3 $ 173,496 $ 173,579 Separate Accounts and Other Pooled Vehicles4 126,671 125,310 ETFs5 14,679 14,150 Total Assets Under Management2 $ 314,846 $ 313,039 Other Assets6 Institutional $ 2,818 $ 2,762 Total Other Assets $ 2,818 $ 2,762 Total Client Assets Total Assets Under Management $ 314,846 $ 313,039 Total Other Assets 2,818 2,762 Total Client Assets $ 317,664 $ 315,801 By Region U.S. $ 263,706 $ 262,576 Non-U.S. 53,958 53,225 Total Client Assets $ 317,664 $ 315,801 1Due to rounding, numbers presented in these tables may not add up precisely to the totals provided. 2Total AUM includes both discretionary assets under management and non-discretionary assets under advisement and excludes Other Assets. 3Includes institutional and retail share classes, money market and VIP funds. 4Includes wrap program accounts, CITs, UMAs, UCITS, private funds, and non-U.S. domiciled pooled vehicles. 5Represents only ETF assets held by third parties and excludes ETF assets held by other Victory Capital products. 6Includes low-fee (2 to 4 bps) institutional assets. These assets are included as part of Victory’s Regulatory Assets Under Management reported in Form ADV Part 1. About Victory Capital Victory Capital (NASDAQ: VCTR) is a diversified global asset management firm with $317.7 billion in total client assets, as of November 30, 2025. We serve institutional, intermediary, and individual clients through our Investment Franchises and Solutions Platform, which manage specialized investment strategies across traditional and alternative asset classes. Our differentiated approach combines the power of investment autonomy with the support of a robust, fully integrated operational and distribution platform. Clients have access to focused, top-tier investment talent equipped with comprehensive resources designed to deliver competitive long-term performance. Victory Capital is headquartered in San Antonio, Texas. To learn more, visit www.vcm.com or follow us on Facebook, Twitter (X), and LinkedIn. View source version on businesswire.com: https://www.businesswire.com/news/home/20251210864057/en/ Investors: Matthew Dennis, CFA Chief of Staff Director, Investor Relations 216-898-2412 [email protected] Media: Jessica Davila Director of Global Communications 210-694-9693 [email protected] Source: Victory Capital Holdings, Inc.

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