On July 10, 2020, Constance K. Weaver notified the Board of Directors of Waddell & Reed Financial, Inc. (the Company) of her resignation from the Board, effective immediately. Ms. Weaver's decision to resign was due to her acceptance of a chief marketing officer position with another company and was not the result of any disagreement with the Company or its management on any matter relating to the Company's operations, policies or practices. The size of the Board was reduced to nine directors in connection with Ms. Weaver's resignation.