Victory Capital Receives Four 2022 Refinitiv Lipper Fund Awards

Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the “Company”) today announced that three of its mutual funds have received prestigious 2022 US Refinitiv Lipper Fund Awards based on risk-adjusted returns for the period ended November 30, 2021.

“We are honored to again have numerous funds recognized by Refinitiv Lipper,” said David Brown, Chairman and Chief Executive Officer of Victory Capital. “We believe these well-respected industry awards speak to the depth and quality of our offerings across our Investment Franchises and our unwavering commitment to consistently deliver excellent, long-term risk-adjusted returns to our fund shareholders.”

The Victory Floating Rate Fund seeks to provide a high level of current income through investments primarily in floating rate loans and other floating rate investments. Most of the Fund’s investments will typically be below investment grade. The investment team considers several factors such as the issuer’s credit quality, management, capital structure, leverage, operational performance, and the business outlook for the industry of the issuer.

The USAA Ultra Short-Term Bond Fund seeks to provide high current income consistent with preservation of principal. The Fund's principal investment strategy is to normally invest at least 80% of the fund's assets in investment-grade debt securities that have a dollar-weighted average portfolio maturity of 18 months or less. The Fund invests primarily in U.S. dollar-denominated debt securities including obligations of U.S., state, and local governments, their agencies and instrumentalities; mortgage- and asset-backed securities; corporate debt securities; and repurchase agreements.

The USAA Nasdaq-100 Index Fund seeks to match the performance, before fees and expenses, of the Nasdaq-100 Index. The Nasdaq-100 Index represents 100 of the largest nonfinancial stocks traded on the Nasdaq Stock Market. Under normal circumstances, the Fund will invest at least 80% of its net assets in common stocks of companies composing the Index and in roughly the same proportions as their weightings in the Index. Consistent with the Index, the Fund may be focused in the technology sector.

The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. For more information, see https://lipperfundawards.com/. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.

Victory Floating Rate Fund Class Y was selected from among 53 funds and 217 share classes in the loan participation fund category over three years for the period ending November 30, 2021. USAA Ultra Short-Term Bond Fund, R6 was selected from among 50 funds and 145 share classes in the ultra-short obligation category over three years for the period ending November 30, 2021. USAA Ultra Short-Term Bond Fund, Institutional was selected from among 46 funds and 120 share classes in the ultra-short obligation category over five years for the period ending November 30, 2021. USAA Nasdaq-100 Index Fund, Fund Shares was selected from among 140 funds and 419 share classes in the large cap growth category over ten years for the period ending November 30, 2021.

About Victory Capital

Victory Capital is a diversified global asset management firm with $176.0 billion in assets under management as of February 28, 2022. It was ranked ninth on Fortune’s list of the 100 Fastest Growing Companies for 2021. The Company operates a next-generation business model combining boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.

Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 12 autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a wide array of investment products, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, and a 529 Education Savings Plan.

For more information, please visit www.vcm.com or follow us: Twitter and LinkedIn

Past performance is not indicative of future results.

Carefully consider a fund's investment objectives, risks, charges and expenses before investing. To obtain a prospectus or summary prospectus containing this and other important information, visit www.vcm.com/prospectus. Read it carefully before investing.

Victory Capital means Victory Capital Management Inc., the investment adviser of the USAA Mutual Funds. USAA Mutual Funds are distributed by Victory Capital Services, Inc., member FINRA, an affiliate of Victory Capital. Victory Capital and its affiliates are not affiliated with United Services Automobile Association or its affiliates. USAA and the USAA logos are registered trademarks and the USAA Mutual Funds and USAA Investments logos are trademarks of United Services Automobile Association and are being used by Victory Capital and its affiliates under license.

Park Avenue Institutional Advisers LLC is the sub adviser to the Victory Floating Rate Fund. The Fund is distributed by Victory Capital Services, Inc., member FINRA, an affiliate of Victory Capital Management Inc. Victory Capital Management Inc. is the adviser to the Fund and is not affiliated with Park Avenue Institutional Advisers LLC. Park Avenue Institutional Advisers LLC is not affiliated with United States Automobile Association or its affiliates.

Class Y Shares are available only to select investors; see each Fund’s prospectus for details and information on other share classes.

All investing involves risk, including the possible loss of principal. The value of an investment will fluctuate in response to macro factors such as general economic conditions, interest rates and the political environment. An investment should be made with an understanding of the risks involved with owning a particular security or asset class. Portfolios that are concentrated in a specific sector or industry may be subject to a higher degree of market risk than a portfolio whose investments are more diversified.

The value of your investment is also subject to geopolitical risks such as wars, terrorism, environmental disasters, and public health crises; the risk of technology malfunctions or disruptions; and the responses to such events by governments and/or individual companies.

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Refinitiv Lipper Fund Awards, ©2022 Refinitiv. All rights reserved. Used under license.

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