Waddell & Reed Financial, Inc. Will Hold Virtual Annual Meeting in 2020

Waddell & Reed Financial, Inc. (NYSE: WDR) today provided notice of a change in location for the Company's 2020 Annual Meeting of Stockholders via the filing of additional proxy materials with the SEC.

Due to the emerging public health impact of the coronavirus outbreak, and to support the health and well-being of the Company's directors, employees and stockholders, the Company will hold the Annual Meeting in a virtual meeting format only, via audio webcast, on April 29, 2020 at 10 a.m., Central time. Stockholders of record as of the close of business on March 2, 2020 can attend the virtual Annual Meeting at www.meetingcenter.io/255648983 by using the control number included on the proxy card or notice that you previously received. The password for the meeting is WDR2020.

If you hold your shares through an intermediary, such as a bank or broker, you must register in advance to attend the Annual Meeting as a stockholder. To register, you must submit proof of your proxy power (legal proxy) reflecting your holdings in the Company along with your name and email address to Computershare. Requests for registration must be labeled as "Legal Proxy" and be received no later than 5:00 p.m. (Eastern Time) on April 24, 2020. You will receive a confirmation of your registration by email after Computershare receives your registration materials. Requests for registration should be directed to Computershare at the following:

By email: Forward the email from your intermediary, or attach an image of your legal proxy, to [email protected]

By mail: Computershare, Waddell & Reed Financial, Inc. Legal Proxy, P.O. Box 43001, Providence, RI 02940-3001

Stockholders will be afforded the same rights and opportunities to participate as they would at an in-person meeting, including the ability to ask questions and to vote during the Annual Meeting by following the instructions available on the meeting website. If you do not have your control number, you may listen to the Annual Meeting as a guest, but you will not have the opportunity to vote or ask questions. A replay of the Annual Meeting will be available until May 29, 2020 on our Investor Relations website at ir.waddell.com.

The Company urges stockholders to vote and submit proxies in advance of the Annual Meeting by one of the methods described in the proxy materials for the Annual Meeting. The proxy card or voting instruction form included with the proxy materials previously distributed will not be updated to reflect the change in location and may continue to be used to vote your shares in connection with the Annual Meeting.

About the Company

Through its subsidiaries, Waddell & Reed Financial, Inc. has provided investment management and wealth management services to clients throughout the United States since 1937. Today, we distribute our investment products through the unaffiliated channel under the IVY INVESTMENTS® brand (encompassing broker/dealer, retirement, and registered investment advisors), our wealth management channel (through independent financial advisors associated with WADDELL & REED, INC.), and our institutional channel (including defined benefit plans, pension plans, endowments and subadvisory relationships). For more information, visit ir.waddell.com.