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    Nathan [Unknown] • Barclays

    Nathan [Unknown]'s questions to Victory Capital Holdings, Inc. (VCTR) leadership

    Nathan [Unknown]'s questions to Victory Capital Holdings, Inc. (VCTR) leadership • Q4 2024

    Question

    An analyst, Nathan from Barclays, requested a mark-to-market update on Amundi U.S.'s AUM and flow trends, and also asked for an update on asset flows at the Sycamore investment franchise.

    Answer

    President and CFO Michael Policarpo reported Amundi U.S. AUM at approximately $114 billion at year-end, with $2.6 billion in positive net flows for its mutual funds in 2024, a trend that continued into January. CEO David Brown added that Amundi's performance exceeded diligence expectations. Regarding Sycamore, Brown acknowledged recent outflows but expressed long-term confidence, calling it a 'small cycle' for a franchise with an excellent team and process.

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    Nathan [Unknown]'s questions to NorthWestern Energy Group Inc (NWE) leadership

    Nathan [Unknown]'s questions to NorthWestern Energy Group Inc (NWE) leadership • Q3 2024

    Question

    Nathan, on behalf of Nick Campanella, inquired about the FFO to debt metric's trajectory given the rate delay and whether the company would meet its minimum credit thresholds. He also asked about plans to update the IRP now that the Yellowstone facility is online.

    Answer

    CFO Crystal Lail explained that without any interim rate relief in 2024, the company's FFO to debt metric would fall below its downside threshold. She noted a continued delay into 2025 would also pressure the metric. CEO Brian Bird stated that the next Integrated Resource Plan (IRP) update is still planned for 2026.

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