Amundi (AMUN) Partnership summary

Opening remarks and agenda

• Conference call and announcements marked the closing of the strategic partnership transaction, effective April 1, 2025, with prepared remarks and a Q&A session.

• Forward-looking statements and risk factors were noted, with reference to SEC filings.

Objectives of the partnership

• The partnership aims to drive future growth, create shareholder value, and achieve double-digit run rate accretion within one year.

• Victory Capital becomes the exclusive provider of U.S.-manufactured active investment products for Amundi's non-U.S. distribution for 15 years.

• Amundi seeks to expand its product set of U.S.-manufactured strategies for distribution outside the U.S.

• The partnership seeks to reduce financial leverage and strengthen the balance sheet.

• Expands access to a broader range of US and non-US investment solutions for clients globally.

Partner introductions and roles

• Amundi received 17.6 million shares at closing, representing 21.2% of fully diluted equity, expected to reach 26.1% over six months; voting interest remains below 5%.

• Two Amundi appointees joined the Board of Directors, filling a vacancy and replacing a retiring director.

• Pioneer Investments becomes the 12th investment franchise under Victory Capital.

• One partner is a leading European asset manager with over €2.2 trillion in assets and a global presence.