SCHEDULE A

to the

INVESTMENT ADVISORY AGREEMENT

between

VICTORY PORTFOLIOS

and

VICTORY CAPITAL MANAGEMENT INC.

Dated July 29, 2016

 

 

 

Last

Must Be

 

Name of Fund

Fee*

Approved

Approved By

1.

Victory Floating Rate Fund

0.65%

December 4, 2025

December 31, 2026

 

 

 

 

 

 

 

 

 

2.

Victory Global Energy Transition Fund

1.00%

December 4, 2025

December 31, 2026

 

 

 

 

 

 

 

 

 

3.

Victory High Income Municipal Bond Fund

0.50%

December 4, 2025

December 31, 2026

 

 

 

 

 

 

 

 

 

4.

Victory High Yield Fund

0.60%

December 4, 2025

December 31, 2026

 

 

 

 

 

 

 

 

 

5.

Victory Low Duration Bond Fund

0.45%

December 4, 2025

December 31, 2026

 

 

 

 

 

 

 

 

 

6.

Victory RS Global Fund

0.60%

December 4, 2025

December 31, 2026

 

 

 

 

 

 

 

 

 

7.

Victory RS Growth Fund

0.75%

December 4, 2025

December 31, 2026

 

 

 

 

 

 

 

 

 

8.

Victory RS International Fund

0.80%

December 4, 2025

December 31, 2026

 

 

 

 

 

 

 

 

 

9.

Victory RS Investors Fund

1.00%

December 4, 2025

December 31, 2026

 

 

 

 

 

10.

Victory RS Large Cap Alpha Fund

0.50%

December 4, 2025

December 31, 2026

 

 

 

 

 

11.

Victory RS Mid Cap Growth Fund

0.85%

December 4, 2025

December 31, 2026

 

 

 

 

 

12.

Victory RS Partners Fund

0.83%

December 4, 2025

December 31, 2026

 

 

 

 

 

*Expressed as a percentage of average daily net assets. Note, however, that the Adviser shall have the right, but not the obligation, to voluntarily or contractually waive any portion of the advisory fee from time to time. In addition, the Adviser may from time to time undertake in writing to limit the Funds’ total expenses for a definite period of time.

 

 

Fee*

Last

Must Be

 

Name of Fund

Approved

Approved By

13.

Victory RS Science and

1.00%

December 4,

December 31,

 

Technology Fund

 

2025

2026

 

 

 

 

 

14.

Victory RS Select Growth

1.00%

December 4,

December 31,

 

Fund

 

2025

2026

 

 

 

 

 

15.

Victory RS Small Cap Growth

0.95% on assets up to $1 billion,

December 4,

December 31,

 

Fund

0.825% on assets from $1 billion to

2025

2026

 

 

$2 billion, and 0.75% on assets in

 

 

 

 

excess of $2 billion

 

 

 

 

 

 

 

16.

Victory RS Value Fund

0.85%

December 4,

December 31,

 

 

 

2025

2026

 

 

 

 

 

17.

Victory Tax-Exempt Fund

0.50%

December 4,

December 31,

 

 

 

2025

2026

 

 

 

 

 

Current as of December 4, 2025

VICTORY PORTFOLIOS

By: /S/ THOMAS DUSENBERRY

Name: Thomas Dusenberry

Title: President

Accepted:

VICTORY CAPITAL MANAGEMENT INC.

By: /S/ MICHAEL D. POLICARPO

Name: Michael D. Policarpo II

Title: President, Chief Financial Officer and Chief

Administrative Officer

*Expressed as a percentage of average daily net assets. Note, however, that the Adviser shall have the right, but not the obligation, to voluntarily or contractually waive any portion of the advisory fee from time to time. In addition, the Adviser may from time to time undertake in writing to limit the Funds’ total expenses for a definite period of time.