Waddell & Reed Financial, Inc. (NYSE: WDR) today reported preliminary assets under management of $68.6 billion for the month ended May 31, 2019, compared to $72.9 billion on April 30, 2019.

              Assets Under Management ($ in Millions) Preliminary Month Ended May 31, 2019 Retail Institutional Total   Beginning assets $ 69,025 $ 3,868 $ 72,893 Net flows (630 ) (11 ) (641 ) Market action   (3,372 )   (241 )   (3,613 ) Ending assets $ 65,023   $ 3,616   $ 68,639    

Cautionary Statement

The preliminary information included in this news release reflects management's estimate based on currently available information. Estimates are subject to change. Accordingly, you should not place undue reliance upon this preliminary information.

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.

Investor Contact:Mike Daley, VP, Corporate Controller & Investor Relations, (913) 236-1795, mdaley1@waddell.comMutual Fund Investor Contact:Call (888) WADDELL, or visit www.waddell.com or www.ivyfunds.com.

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