SCHEDULE A
TO THE EXPENSE LIMITATION AGREEMENT DATED August 1, 2013
BETWEEN
VICTORY PORTFOLIOS AND VICTORY CAPITAL MANAGEMENT INC.
OPERATING EXPENSE LIMITS AS OF January 1, 2019
Fund/Class |
| Maximum |
| Date of |
| Effective Date |
|
Victory Diversified Stock — Class R6 |
| 0.78 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory Diversified Stock — Class Y |
| 0.86 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory Harvest Premium Absolute Fund — Class A |
| 1.20 | % | 31-Oct-21 |
| 01-Apr-19 |
|
Victory Harvest Premium Absolute Fund — Class — Y |
| 0.95 | % | 31-Oct-21 |
| 01-Apr-19 |
|
Victory Harvest Premium Bond Fund — Class — A |
| 0.85 | % | 31-Oct-21 |
| 01-Apr-19 |
|
Victory Harvest Premium Bond Fund — Class Y |
| 0.60 | % | 31-Oct-21 |
| 01-Apr-19 |
|
Victory Harvest Premium Large Cap Equity Fund — Class — A |
| 1.15 | % | 31-Oct-21 |
| 01-Apr-19 |
|
Victory Harvest Premium Large Cap Equity Fund — Class — Y |
| 0.90 | % | 31-Oct-21 |
| 01-Apr-19 |
|
Victory INCORE Fund for Income — Class R6 |
| 0.63 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory INCORE Fund for Income — Class Y |
| 0.71 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory NewBridge Large Cap Growth — Class A |
| 1.36 | % | 28-Feb-19 |
| 1-Sep-17 |
|
Victory NewBridge Large Cap Growth — Class C |
| 2.10 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory NewBridge Large Cap Growth — Class I |
| 0.95 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory NewBridge Large Cap Growth — Class R |
| 1.65 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory NewBridge Large Cap Growth — Class Y |
| 1.02 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory Special Value — Class C |
| 2.20 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory Special Value — Class I |
| 1.15 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory Special Value — Class Y |
| 1.10 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Victory Sycamore Established Value — Class C |
| 1.84 | % | 28-Feb-19 |
| 1-Apr-14 |
|
Victory Sycamore Small Company Opportunity — Class Y |
| 1.15 | % | 28-Feb-19 |
| 1-Mar-18 |
|
Fund/Class |
| Maximum |
| Date of |
| Effective Date |
|
Victory INCORE Total Return Bond Fund — Class A |
| 0.85 | % | 31-Oct-19 |
| 1-Nov-118 |
|
Victory INCORE Total Return Bond Fund — Class C |
| 1.60 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory INCORE Total Return Bond Fund — Class R6 |
| 0.58 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory INCORE Total Return Bond Fund — Class Y |
| 0.60 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Integrity Discovery Fund — Class R |
| 2.08 | % | 31-Oct-19 |
| 1-Nov-18 |
|
(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)
Fund/Class |
| Maximum |
| Date of |
| Effective Date |
|
Victory Integrity Mid-Cap Value Fund — Class R6 |
| .60 | % | 31-Oct-19 |
| 1-Jun-18 |
|
Victory Integrity Mid-Cap Value Fund — Class A |
| 1.00 | % | 31-Oct-19 |
| 1-Jun-18 |
|
Victory Integrity Mid-Cap Value Fund — Class Y |
| .75 | % | 31-Oct-19 |
| 1-Jun-18 |
|
Victory Integrity Small/Mid-Cap Value Fund — Class A |
| 1.13 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Integrity Small/Mid-Cap Value Fund — Class R6 |
| .83 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Integrity Small/Mid-Cap Value Fund — Class Y |
| .88 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Integrity Small-Cap Value Fund — Class A |
| 1.50 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Integrity Small-Cap Value Fund — Class R |
| 1.75 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Munder Mid-Cap Core Growth Fund — Class A |
| 1.32 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Munder Mid-Cap Core Growth Fund — Class R |
| 1.57 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Munder Multi-Cap Fund — Class R |
| 1.88 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Munder Small Cap Growth — Class A |
| 1.40 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Munder Small Cap Growth — Class I |
| 1.15 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Munder Small Cap Growth — Class Y |
| 1.25 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Trivalent Emerging Markets Small-Cap Fund — Class A |
| 1.73 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Trivalent Emerging Markets Small-Cap Fund — Class Y |
| 1.48 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Trivalent International Fund—Core Equity — Class A |
| .95 | % | 31-Oct-19 |
| 1-Jun-18 |
|
Victory Trivalent International Fund—Core Equity — Class C |
| 1.70 | % | 31-Oct-19 |
| 1-Jun-18 |
|
Victory Trivalent International Fund—Core Equity — Class I |
| .60 | % | 31-Oct-19 |
| 1-Jun-18 |
|
Victory Trivalent International Fund—Core Equity — Class R6 |
| .55 | % | 31-Oct-19 |
| 1-Jun-18 |
|
Victory Trivalent International Fund—Core Equity — Class Y |
| .70 | % | 31-Oct-19 |
| 1-Jun-18 |
|
Victory Trivalent International Small-Cap Fund — Class A |
| 1.35 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Trivalent International Small-Cap Fund — Class C |
| 2.10 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Trivalent International Small-Cap Fund — Class I |
| 0.95 | % | 31-Oct-19 |
| 1-Nov-18 |
|
Victory Trivalent International Small-Cap Fund — Class R6 |
| 1.10 | % | 31-Oct-19 |
| 1-Nov-18 |
|
(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)
Fund/Class |
| Maximum |
| Date of |
| Effective Date |
|
Victory Trivalent International Small-Cap Fund — Class Y |
| 1.10 | % | 31-Oct-19 |
| 1-Nov-18 |
|
(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)
Fund/Class |
| Maximum |
| Date of |
| Effective Date |
|
Victory Floating Rate Fund — Class A |
| 1.00 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Floating Rate Fund — Class C |
| 1.80 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Floating Rate Fund — Class R |
| 1.56 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Floating Rate Fund — Class Y |
| 0.78 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Global Natural Resources Fund — Class A |
| 1.48 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Global Natural Resources Fund — Class C |
| 2.28 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Global Natural Resources Fund — Class R |
| 1.86 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Global Natural Resources Fund — Class Y |
| 1.15 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory High Income Municipal Bond Fund — Class A |
| 0.80 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory High Income Municipal Bond Fund — Class C |
| 1.57 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory High Income Municipal Bond Fund — Class Y |
| 0.57 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory High Yield Fund — Class A |
| 1.00 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory High Yield Fund — Class C |
| 1.70 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory High Yield Fund — Class R |
| 1.35 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory High Yield Fund — Class Y |
| 0.76 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory INCORE Investment Quality Bond Fund — Class A |
| 0.90 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory INCORE Investment Quality Bond Fund — Class C |
| 1.77 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory INCORE Investment Quality Bond Fund — Class R |
| 1.30 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory INCORE Investment Quality Bond Fund — Class Y |
| 0.66 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory INCORE Low Duration Bond Fund — Class A |
| 0.85 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory INCORE Low Duration Bond Fund — Class C |
| 1.62 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory INCORE Low Duration Bond Fund — Class R |
| 1.27 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory INCORE Low Duration Bond Fund — Class Y |
| 0.62 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Sophus Emerging Markets Fund — Class A |
| 1.34 | % | 31-Jul-19 |
| 1-Sept-17 |
|
Victory Sophus Emerging Markets Fund — Class C |
| 2.14 | % | 31-Jul-19 |
| 1-Sept-17 |
|
Victory Sophus Emerging Markets Fund — Class R |
| 1.58 | % | 31-Jul-19 |
| 1-Sept-17 |
|
Victory Sophus Emerging Markets Fund — Class Y |
| 0.99 | % | 31-Jul-19 |
| 1-Sept-17 |
|
Victory Sophus Emerging Markets Fund — Class R6 |
| 0.89 | % | 31-Jul-19 |
| 1-Sept-17 |
|
Victory Sophus Emerging Markets Small Cap Fund — Class A |
| 1.75 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Sophus Emerging Markets Small Cap Fund — Class C |
| 2.50 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Sophus Emerging Markets Small Cap Fund — Class Y |
| 1.50 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Global Fund — Class A |
| .85 | % | 30-Apr-19 |
| 1-Jun-18 |
|
Victory RS Global Fund — Class C |
| 1.60 | % | 30-Apr-19 |
| 1-Jun-18 |
|
Victory RS Global Fund — Class R |
| 1.10 | % | 30-Apr-19 |
| 1-Jun-18 |
|
(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)
Fund/Class |
| Maximum |
| Date of |
| Effective Date |
|
Victory RS Global Fund — Class Y |
| .60 | % | 30-Apr-19 |
| 1-Jun-18 |
|
Victory RS Growth Fund — Class A |
| 1.10 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Growth Fund — Class C |
| 1.93 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Growth Fund — Class R |
| 1.71 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Growth Fund — Class Y |
| 0.83 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS International Fund — Class A |
| 1.13 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS International Fund — Class C |
| 1.88 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS International Fund — Class R |
| 1.38 | % | 30-Apr-19 |
| -1-Aug-18 |
|
Victory RS International Fund — Class Y |
| .88 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Investors Fund — Class A |
| 1.33 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Investors Fund — Class C |
| 2.07 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Investors Fund — Class R |
| 1.95 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Investors Fund — Class Y |
| 1.05 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Large Cap Alpha Fund — Class A |
| 0.89 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Large Cap Alpha Fund — Class C |
| 1.69 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Large Cap Alpha Fund — Class R |
| 1.26 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Large Cap Alpha Fund — Class Y |
| 0.68 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Mid Cap Growth Fund — Class A |
| 1.20 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Mid Cap Growth Fund — Class C |
| 2.11 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Mid Cap Growth Fund — Class R |
| 1.80 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Mid Cap Growth Fund — Class Y |
| 0.95 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Mid Cap Growth Fund — Class R6 |
| 0.94 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Partners Fund — Class A |
| 1.45 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Partners Fund — Class R |
| 1.81 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Partners Fund — Class Y |
| 1.12 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Science and Technology Fund — Class A |
| 1.49 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Science and Technology Fund — Class C |
| 2.28 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Science and Technology Fund — Class R |
| 1.93 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Science and Technology Fund — Class Y |
| 1.24 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Select Growth Fund — Class A |
| 1.40 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Select Growth Fund — Class C |
| 2.18 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Select Growth Fund — Class R |
| 1.91 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Select Growth Fund — Class Y |
| 1.14 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Select Growth Fund — Class R6 |
| 1.06 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Small Cap Equity Fund — Class A |
| 1.35 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Small Cap Equity Fund — Class C |
| 2.10 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Small Cap Equity Fund — Class R |
| 1.75 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Small Cap Equity Fund — Class Y |
| 1.10 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Small Cap Growth Fund — Class A |
| 1.40 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Small Cap Growth Fund — Class C |
| 2.16 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Small Cap Growth Fund — Class R |
| 1.86 | % | 30-Apr-19 |
| 1-Aug-18 |
|
(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)
Fund/Class |
| Maximum |
| Date of |
| Effective Date |
|
Victory RS Small Cap Growth Fund — Class Y |
| 1.13 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Small Cap Growth Fund — Class R6 |
| 1.06 | % | 30-Apr-19 |
| 1-May-18 |
|
Victory RS Value Fund — Class A |
| 1.30 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Value Fund — Class C |
| 2.07 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Value Fund — Class R |
| 1.69 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory RS Value Fund — Class Y |
| 1.06 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Strategic Income Fund — Class A |
| 0.95 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Strategic Income Fund — Class C |
| 1.74 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Strategic Income Fund — Class R |
| 1.34 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Strategic Income Fund — Class Y |
| 0.74 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Tax-Exempt Fund — Class A |
| 0.80 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Tax-Exempt Fund — Class C |
| 1.60 | % | 30-Apr-19 |
| 1-Aug-18 |
|
Victory Tax-Exempt Fund — Class Y |
| 0.69 | % | 30-Apr-19 |
| 1-Aug-18 |
|
(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)