News Release - 6/9/2021

Victory Capital Announces Plans to Enter Cryptocurrency Market
Establishes Exclusive Agreements with Nasdaq and Hashdex
SAN ANTONIO, Texas--(BUSINESS WIRE)-- Victory Capital Holdings, Inc. (NASDAQ: VCTR) (“Victory Capital” or the“Company”) today announced that its wholly owned investment adviser, Victory Capital Management Inc., has establishedexclusive agreements with both Nasdaq and crypto-focused asset manager Hashdex Ltd. (“Hashdex”) in advance ofplans to enter the cryptocurrency market. Victory Capital will be the exclusive sponsor of private placement funds andother vehicles for U.S. investors, based on the Nasdaq Crypto Index (NCI), a multi-coin crypto index co-developed byNasdaq and Hashdex.
Victory Capital plans to launch a private fund for accredited investors that will track the NCI. Additionally, Victory Capitalwill be offering private funds that track the Nasdaq Bitcoin Reference Price Index as well as the Nasdaq Ethereum PriceIndex. Hashdex will provide its trading and asset management expertise to each of these products.
The NCI was developed to address rapidly growing institutional investor interest in digital assets. The rules-based index isdesigned to be dynamic in nature, broadly representative of the investable landscape of the cryptocurrency market, andreadily trackable by investors. It employs strict eligibility criteria and is rebalanced quarterly to maintain a current
representation of this market.
Hashdex was created with the mission of building a simplified bridge between traditional financial markets and the crypto
market. Founded in early 2018, Hashdex pioneered the world’s first crypto index funds. The company manages index,
passive and systematic crypto funds currently available to non-U.S. investors.
“We continually strive to provide our clients with the forward-thinking choices they want and believe cryptocurrency is aviable asset class that can be part of a well-diversified portfolio,” said Mannik Dhillon, CFA, CAIA, President,VictoryShares and Solutions. “By investing in a portfolio designed to track the NCI, investors can seek returns that alignwith the cryptocurrency market in a diversified manner, gaining exposure to multiple digital assets as this marketcontinues to evolve and mature. We are actively considering other vehicles and wrappers to bring these capabilities to abroader set of investors.”“We have seen a developing maturity in the cryptocurrency ecosystem,” said Sean Wasserman, Vice President, Global
Head of Index and Advisor Solutions, Nasdaq. “Our work with industry partners such as Victory Capital and Hashdex
furthers the innovation in the digital asset space.”“We set out to solve a problem we were having ourselves. We wanted an institutional-grade index strategy that wouldallow us to own beta in the crypto asset class,” commented Marcelo Sampaio, CEO of Hashdex. “We created a dynamic1

index strategy that enables non-U.S. investors to make allocations to the asset class, rather than trying to pick winners.
We are thrilled to partner with Victory Capital and Nasdaq to bring our investment capabilities to the U.S. market in thefuture.”
About Victory Capital
Victory Capital is a diversified global asset management firm with $157.1 billion in assets under management as of April30, 2021. The Company operates a next-generation business model combining boutique investment qualities with thebenefits of a fully integrated, centralized operating and distribution platform.
Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms andindividual investors. With 10 autonomous Investment Franchises and a Solutions Platform, Victory Capital offers a widearray of investment styles and investment vehicles, including actively managed mutual funds, separately managedaccounts, active ETFs, multi-asset class strategies, custom-designed solutions and a 529 College Savings Plan.
For more information, please visit www.vcm.com or follow us: Twitter and LinkedIn
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation ReformAct of 1995. These statements may include, without limitation, any statements preceded by, followed by or includingwords such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “assume,” “budget,” “continue,” “estimate,”“future,” “objective,” “outlook,” “plan,” “potential,” “predict,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could”
and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known
and unknown risks, uncertainties and other important factors beyond Victory Capital’s control such as the COVID-19
pandemic and its effect on our business, operations and financial results going forward, as discussed in our “RiskFactors” and elsewhere in our Company’s filings with the SEC, that could cause Victory Capital’s actual results,
performance or achievements to be materially different from the expected results, performance or achievements
expressed or implied by such forward-looking statements.
Such forward-looking statements are based on numerous assumptions regarding Victory Capital’s present and futurebusiness strategies and the environment in which it will operate in the future. Any forward-looking statement made in thispress release speaks only as of the date hereof. Except as required by law, Victory Capital assumes no obligation toupdate these forward-looking statements, or to update the reasons actual results could differ materially from thoseanticipated in the forward-looking statements, even if new information becomes available in the future.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210609005184/en/
Investors:
Matthew Dennis, CFA
Chief of Staff
Director, Investor Relations
216-898-2412
mdennis@vcm.com

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Media:Tricia Ross
310-622-8226
tross@finprofiles.com
Source: Victory Capital Holdings, Inc.

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