Victory Capital (VCTR) Partnership summary

Opening remarks and agenda

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

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

Objectives of the partnership

• The partnership aims to drive future growth, globalize the business, and create shareholder value through strategic collaboration and reciprocal distribution agreements.

• Amundi seeks to expand its offering of U.S.-manufactured investment strategies outside the U.S., while Victory Capital expands its intermediary distribution and investment manufacturing platform.

• Partnership targets double-digit run rate accretion within one year and increased expense synergies to $110 million.

Partner introductions and roles

• Key executives present included the CEO, President/CFO, and Chief of Staff/Director of Investor Relations.

• Amundi becomes a strategic shareholder, initially receiving 17.6 million shares (21.2% equity, 4.9% voting interest), with total equity interest expected to reach 26.1% over six months, and two Amundi appointees joined the board.

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