Fund/Class

Maximum Operating

Effective Date

Date of

February 28 FYE Funds

Expense Limit

of Waiver

Termination

Victory California Bond Fund Class A

0.80%

1-Jul-26

30-Jun-27

Victory California Bond Fund Shares

0.54%

1-Jul-26

30-Jun-27

Victory California Bond Institutional Shares

0.50%

1-Jul-26

30-Jun-27

Victory Global Equity Income Fund Shares

1.00%

1-Jul-26

30-Jun-27

Victory New York Bond Fund Shares

0.65%

1-Jul-26

30-Jun-27

Victory New York Bond Institutional Shares

0.61%

1-Jul-26

30-Jun-27

Victory Target Managed Allocation Fund

0.65%

1-Jul-26

30-Jun-27

Victory Tax Exempt Intermediate-Term Fund Class A

0.75%

1-Jul-26

30-Jun-27

Victory Tax Exempt Intermediate-Term Fund Shares

0.48%

1-Jul-26

30-Jun-27

Victory Tax Exempt Intermediate-Term Institutional Shares

0.44%

1-Jul-26

30-Jun-27

Victory Tax Exempt Long-Term Fund Class A

0.70%

1-Jul-26

30-Jun-27

Victory Tax Exempt Long-Term Fund Shares

0.48%

1-Jul-26

30-Jun-27

Victory Tax Exempt Long-Term Institutional Shares

0.44%

1-Jul-26

30-Jun-27

Victory Tax Exempt Money Market Fund

0.56%

1-Jul-26

30-Jun-27

Victory Tax Exempt Short-Term Fund Class A

0.75%

1-Jul-26

30-Jun-27

Victory Tax Exempt Short-Term Fund Shares

0.51%

1-Jul-26

30-Jun-27

Victory Tax Exempt Short-Term Institutional Shares

0.47%

1-Jul-26

30-Jun-27

Victory Virginia Bond Fund Class A

0.80%

1-Jul-26

30-Jun-27

Victory Virginia Bond Fund Shares

0.54%

1-Jul-26

30-Jun-27

Victory Virginia Bond Institutional Shares

0.50%

1-Jul-26

30-Jun-27

Victory Cornerstone Aggressive Fund

1.10%

1-Jul-26

30-Jun-27

Victory Cornerstone Conservative Fund

0.10%

1-Jul-26

30-Jun-27

Victory Cornerstone Equity Fund

0.10%

1-Jul-26

30-Jun-27

Victory Cornerstone Moderate Fund

1.00%

1-Jul-26

30-Jun-27

Victory Cornerstone Moderately Aggressive Fund

0.98%

1-Jul-26

30-Jun-27

Victory Cornerstone Moderately Conservative Fund

0.90%

1-Jul-26

30-Jun-27

Victory Emerging Markets Fund Institutional Shares

1.29%

1-Jul-26

30-Jun-27

Victory Emerging Markets Fund Shares

1.48%

1-Jul-26

30-Jun-27

Victory Government Securities Fund Institutional Shares

0.39%

1-Jul-26

30-Jun-27

Victory Government Securities Fund R6 Shares

0.35%

1-Jul-26

30-Jun-27

Victory Government Securities Fund Shares

0.48%

1-Jul-26

30-Jun-27

Victory Growth and Tax Strategy Fund Shares

0.61%

1-Jul-26

30-Jun-27

Victory Growth and Tax Strategy Fund Institutional Shares

0.57%

1-Jul-26

30-Jun-27

Victory Growth and Tax Strategy Fund Class A

0.86%

1-Jul-26

30-Jun-27

Victory Growth and Tax Strategy Fund Class C

1.61%

1-Jul-26

30-Jun-27

Victory International Fund Institutional Shares

0.99%

1-Jul-26

30-Jun-27

Victory International Fund R6 Shares

0.85%

1-Jul-26

30-Jun-27

Victory International Fund Shares

1.06%

1-Jul-26

30-Jun-27

Victory Precious Metals and Minerals Fund Class A

1.34%

1-Jul-26

30-Jun-27

Victory Precious Metals and Minerals Fund Institutional Shares

1.00%

1-Jul-26

30-Jun-27

Victory Precious Metals and Minerals Fund Shares

1.27%

1-Jul-26

30-Jun-27

Victory Treasury Money Market Trust

0.35%

1-Jul-26

30-Jun-27

Victory World Equity Fund Class A

1.35%

1-Jul-26

30-Jun-27

Victory World Equity Fund Institutional Shares

1.00%

1-Jul-26

30-Jun-27

Victory World Equity Fund Shares

1.09%

1-Jul-26

30-Jun-27

Fund/Class

Maximum Operating

Effective Date

Date of

April 30 FYE Funds

Expense Limit

of Waiver

Termination

Victory Aggressive Growth Fund Institutional Shares

0.70%

1-Sep-26

31-Aug-27

Victory Aggressive Growth Fund Shares

0.75%

1-Sep-26

31-Aug-27

Victory Capital Growth Fund Institutional Shares

1.10%

1-Sep-26

31-Aug-27

Victory Capital Growth Fund Shares

1.12%

1-Sep-26

31-Aug-27

Victory Growth & Income Fund Institutional Shares

0.84%

1-Sep-26

31-Aug-27

Victory Growth & Income Fund Shares

0.88%

1-Sep-26

31-Aug-27

Victory Growth Fund Institutional Shares

0.88%

1-Sep-26

31-Aug-27

Victory Growth Fund Shares

0.92%

1-Sep-26

31-Aug-27

Victory High Income Fund Institutional Shares

0.73%

1-Sep-26

31-Aug-27

Victory High Income Fund R6 Shares

0.65%

1-Sep-26

31-Aug-27

Victory High Income Fund Shares

0.83%

1-Sep-26

31-Aug-27

Victory Income Fund Class A

0.77%

1-Sep-26

31-Aug-27

Victory Income Fund Institutional Shares

0.46%

1-Sep-26

31-Aug-27

Victory Income Fund R6 Shares

0.39%

1-Sep-26

31-Aug-27

Victory Income Fund Shares

0.52%

1-Sep-26

31-Aug-27

Victory Income Stock Fund Institutional Shares

0.72%

1-Sep-26

31-Aug-27

Victory Income Stock Fund Shares

0.76%

1-Sep-26

31-Aug-27

Victory Core Plus Intermediate Fund Class A

0.87%

1-Sep-26

31-Aug-27

Victory Core Plus Intermediate Fund Class C

1.53%

1-Sep-26

31-Aug-27

Victory Core Plus Intermediate Fund Institutional Shares

0.52%

1-Sep-26

31-Aug-27

Victory Core Plus Intermediate Fund R6 Shares

0.39%

1-Sep-26

31-Aug-27

Victory Core Plus Intermediate Fund Shares

0.59%

1-Sep-26

31-Aug-27

Victory Money Market Fund

0.62%

1-Sep-26

31-Aug-27

Victory Science & Technology Fund Class A

1.34%

1-Sep-26

31-Aug-27

Victory Science & Technology Fund Shares

1.06%

1-Sep-26

31-Aug-27

Victory Short-Term Bond Fund Class A

0.73%

1-Sep-26

31-Aug-27

Victory Short-Term Bond Fund Institutional Shares

0.43%

1-Sep-26

31-Aug-27

Victory Short-Term Bond Fund R6 Shares

0.39%

1-Sep-26

31-Aug-27

Victory Short-Term Bond Fund Shares

0.53%

1-Sep-26

31-Aug-27

Victory Small Cap Stock Fund Institutional Shares

0.98%

1-Sep-26

31-Aug-27

Victory Small Cap Stock Fund Shares

1.10%

1-Sep-26

31-Aug-27

Victory Value Fund Institutional Shares

0.88%

1-Sep-26

31-Aug-27

Victory Value Fund Shares

0.96%

1-Sep-26

31-Aug-27

Victory 500 Index Fund Member Shares

0.25%

1-Sep-26

31-Aug-27

Victory 500 Index Fund Reward Shares

0.15%

1-Sep-26

31-Aug-27

Victory Extended Market Index Fund Shares

0.43%

1-Sep-26

31-Aug-27

Victory Global Managed Volatility Fund Institutional Shares

0.70%

1-Sep-26

31-Aug-27

Victory Global Managed Volatility Fund Shares

0.90%

1-Sep-26

31-Aug-27

Victory Nasdaq-100 Index Fund R6 Shares

0.40%

1-Sep-26

31-Aug-27

Victory Nasdaq-100 Index Fund Shares

0.48%

1-Sep-26

31-Aug-27

Victory Nasdaq-100 Index Fund Institutional Shares

0.44%

1-Sep-26

31-Aug-27

Victory Nasdaq-100 Index Fund Class A

0.70%

1-Sep-26

31-Aug-27

Victory Nasdaq-100 Index Fund Class C

1.45%

1-Sep-26

31-Aug-27

Victory Target Retirement 2030 Fund

0.03%

1-Sep-26

31-Aug-27

Victory Target Retirement 2040 Fund

0.02%

1-Sep-26

31-Aug-27

Victory Target Retirement 2050 Fund

0.04%

1-Sep-26

31-Aug-27

Victory Target Retirement 2060 Fund

0.10%

1-Sep-26

31-Aug-27

Victory Target Retirement Income Fund

0.07%

1-Sep-26

31-Aug-27

Victory Ultra Short-Term Bond Fund Institutional Shares

0.55%

1-Sep-26

31-Aug-27

Victory Ultra Short-Term Bond Fund R6 Shares

0.39%

1-Sep-26

31-Aug-27

Victory Ultra Short-Term Bond Fund Shares

0.60%

1-Sep-26

31-Aug-27

Victory Ultra Short-Term Bond Fund Class A

0.85%

1-Sep-26

31-Aug-27