SCHEDULE A

TO THE EXPENSE LIMITATION AGREEMENT DATED MAY 1, 2021

BETWEEN

VICTORY PORTFOLIOS II AND VICTORY CAPITAL MANAGEMENT INC.

OPERATING EXPENSE LIMITS AS OF NOVEMBER 1, 2023

		Maximum
		Operating		Effective Date of
Fund/Class		Expense Limit	Date of Termination	Waiver
Victory US 500 Enhanced Volatility
Wtd Index Fund
Class A	0.99%		October 31, 2024	November 1, 2023
Class C		1.74%	October 31, 2024	November 1, 2023
Class I	0.74%		October 31, 2024	November 1, 2023
Victory Market Neutral Income Fund
Class A		0.75%	October 31, 2024	November 1, 2023
Class C	1.50%		October 31, 2024	November 1, 2023
Class I		0.40%	October 31, 2024	November 1, 2023
Member Class	0.55%		October 31, 2024	November 1, 2023
VictoryShares US 500 Volatility Wtd	0.35%		October 31, 2024	November 1, 2023
ETF
VictoryShares US Discovery		0.35%	October 31, 2024	November 1, 2023
Enhanced Volatility Wtd ETF
VictoryShares US 500 Enhanced	0.35%		October 31, 2024	November 1, 2023
Volatility Wtd ETF
VictoryShares Developed Enhanced		0.45%	October 31, 2024	November 1, 2023
Volatility Wtd ETF
VictoryShares US EQ Income	0.35%		October 31, 2024	November 1, 2023
Enhanced Volatility Wtd ETF
VictoryShares US Small Cap Volatility		0.35%	October 31, 2024	November 1, 2023
Wtd ETF
VictoryShares International Volatility	0.45%		October 31, 2024	November 1, 2023
Wtd ETF
VictoryShares US Large Cap High Div		0.35%	October 31, 2024	November 1, 2023
Volatility Wtd ETF
VictoryShares US Small Cap High Div	0.35%		October 31, 2024	November 1, 2023
Volatility Wtd ETF
VictoryShares International High Div		0.45%	October 31, 2024	November 1, 2023
Volatility Wtd ETF

(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)

B-1

		Maximum
		Operating		Effective Date of
Fund/Class		Expense Limit	Date of Termination	Waiver
VictoryShares Dividend Accelerator	0.35%		October 31, 2024	November 1, 2023
ETF
VictoryShares US Multi-Factor		0.35%	October 31, 2024	November 1, 2023
Minimum Volatility ETF
VictoryShares Core Intermediate	0.40%		October 31, 2024	November 1, 2023
Bond ETF
VictoryShares Short-Term Bond ETF		0.35%	October 31, 2024	November 1, 2023
VictoryShares Emerging Markets	0.45%		October 31, 2024	November 1, 2023
Value Momentum ETF
VictoryShares International Value		0.35%	October 31, 2024	November 1, 2023
Momentum ETF
VictoryShares US Small Mid Cap	0.25%		October 31, 2024	November 1, 2023
Value Momentum ETF
VictoryShares US Value Momentum		0.20%	October 31, 2024	November 1, 2023
ETF
VictoryShares Nasdaq Next 50 ETF	0.18%		October 31, 2024	November 1, 2023
VictoryShares Core Plus Intermediate		0.40%	October 31, 2024	November 1, 2023
Bond ETF
VictoryShares Corporate Bond ETF	0.40%		October 31, 2024	November 1, 2023
VictoryShares THB Mid Cap ESG ETF		0.55%	October 31, 2024	November 1, 2023
VictoryShares WestEnd US Sector	0.46%		October 31, 2024	December 16, 2022
ETF
VictoryShares Free Cash Flow ETF		0.39%	October 31, 2024	May 23, 2023
VictoryShares Small Cap Free Cash	0.49%		October 31, 2024	May 23, 2023
Flow ETF

(Maximum Operating Expense Limit excluding acquired fund fees and expenses and certain other items such as interest, taxes and brokerage commissions)

B-2