Victory 529 Education Savings Plan Performance

Victory Capital 529 Education Savings Plan Performance

The information below reflects both Fixed Allocation Portfolios and Portfolios selected for participants in the Age-Based Option.

The charts below represent past performance, which does not guarantee future results. The investment return and the value of the investment will fluctuate so that a participant’s interests in the Plan may be worth more or less than their original cost. In addition, current performance may be lower or higher than the performance data set forth below. For the most recent month-end total performance information regarding the Victory Capital 529 Education Savings Plan, please contact us at 800-235-8396 or review current financial information posted at www.vcm.com.

Plan Fees and Expenses
Investment options & Age Based	Estimated Underlying Funds Weighted-Average Expense Ratio^a	Program Management Fee^b	Total Annual Asset-Based Expense	Annual Minimum Balance Fee^c
Very Aggressive Portfolio Ages: 0-2	0.80%	0.10%	0.90%	$10.00
Aggressive Growth Portfolio Ages 3-4	0.76%	0.10%	0.86%	$10.00
Growth Portfolio Ages: 5-6	0.73%	0.10%	0.83%	$10.00
Moderately Aggressive Portfolio Ages: 7-8	0.69%	0.10%	0.79%	$10.00
Moderate Portfolio Ages: 9-11	0.66%	0.10%	0.76%	$10.00
Moderately Conservative Portfolio Ages: 12-13	0.62%	0.10%	0.72%	$10.00
Conservative Portfolio Ages: 14-15	0.57%	0.10%	0.67%	$10.00
Very Conservative Portfolio Ages: 16-17	0.51%	0.10%	0.61%	$10.00
In College Portfolio Ages: 18+	0.46%	0.10%	0.56%	$10.00
Preservation of Capital Portfolio^d	0.35%	0.10%	0.45%	$10.00

^aEach Account in each Portfolio indirectly bears Underlying Fund Expenses. Underlying Fund Expenses include a mutual fund’s investment advisory fees and administrative fees, which are paid to Victory Capital, and other expenses. Estimated Underlying Fund expenses are based on the weighted average of the expense ratio of each underlying mutual fund.

^bThe Program Management Fee will cover the State and Administrative Fees.

^cThe Annual Minimum-Balance Fee is waived in certain circumstances as described in page 53 of the Plan Description for the Victory Capital 529 Education Savings Plan.

^dFor Preservation of Capital Portfolio, the Underlying Fund Expense was determined assuming allocation of all the Portfolio’s assets to the Victory Treasury Money Market Trust.

The Average Annual Total returns shown for a Portfolio are net of Annual Asset-Based Fees and do not take into account the annual minimum-balance fee. This performance information assumes that withdrawals from the Plan are used for qualified higher education expenses, and if amounts withdrawn are not used for such purposes, the after-tax returns would be lower than the returns shown. Since the Plan’s inception date, the underlying mutual funds have changed and may change in the future. The performance of each Portfolio shown above (other than that for Preservation of Capital Portfolio) reflects the performance of underlying funds that are no longer included in the Portfolio. Performance information for the Portfolios should not be viewed as a prediction of future performance of any particular Portfolio and may be higher or lower than the performance data shown. The return and/or principal value of an investment in the Plan will fluctuate, and an account in the Plan may be worth more or less than the amount contributed to the account.

An investment in the Preservation of Capital Portfolio is not insured or guaranteed by the FDIC or any other government agency. Although the Portfolio seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the portfolio.

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With the Victory Capital 529 Education Savings Plan, you choose between two different investment options: an age-based option or a fixed allocation

Carefully consider the investment objectives, risks, charges and expenses of the Victory Capital 529 Education Savings Plan (Plan) before investing. Visit vcm.com/prospectus for a Plan Description and Participation Agreement containing this and other information about the Plan from Victory Capital Services, Inc. (VCS), Underwriter and Distributor. Read it carefully before investing.

The Plan is sponsored by the state of Nevada, acting through the Trustees of the College Savings Plans of Nevada. Interests in the Plan are municipal fund securities issued by the Nevada College Savings Trust Fund. Anyone may invest in the Plan and use proceeds to attend school in any state. Before investing, consider whether any 529 plan offered by your home state or your beneficiary's home state offers state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that may not be available through the Plan. If you withdraw money from the Plan for something other than qualified education expenses, you will owe federal income tax and may face a 10% federal tax penalty on earnings as well as state and local taxes. Consult a tax advisor.

State tax treatment of withdrawals used for i) expenses for tuition in connection with enrollment or attendance at an elemtentary or secondary public, private or religious school, ii) expenses related to apprenticeship programs, or iii) student loan repayments is determined by the state(s) where the taxpayer files state income tax.

There is a $10 annual fee that may be waived once you invest at least $50 per month through automatic investments or reach an account balance of $1,000. Additionally, there is a fee up to 0.12% paid to the State of Nevada Board for sponsoring the plan.

Victory Funds, VictoryShares ETFs and the Victory Capital 529 Education Savings Plan (Plan) are distributed, and brokerage services provided, by Victory Capital Services, Inc. (VCS).

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