On July 3, 2019, the Board of Directors (the Board) of Waddell & Reed Financial, Inc. (the Company), upon the recommendation of the Nominating and Corporate Governance Committee (the Nominating Committee), appointed James A. Jessee to serve as a Class III director to fill the current vacancy on the Board. Mr. Jessee is the former Co-Head of Global Distribution and President of MFS Fund Distributors, Inc. and has over 38 years of experience in the financial services industry. The Board also appointed Mr. Jessee to serve on the Nominating Committee. Mr. Jessee will receive the standard compensation for non-employee directors.