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Use of Proceeds We estimate that we will receive approximately $138.1 million in net proceeds from this offering, or $159.4 million if the underwriters’ overallotment option is exercised in full, and after deducting the underwriting discounts and commissions and estimated expenses payable by us of approximately $11.9 million. Manning & Napier intends to use approximately $28.9 million of the net proceeds from this offering to purchase Class A units of Manning & Napier Group from Manning & Napier Group, which in turn expects to use such net proceeds for general corporate purposes and strategic growth opportunities, including potential acquisitions and product seeding. However, as of the date of this prospectus, Manning & Napier Group has no agreement relating to any material acquisition or investment. Approximately one business day following the consummation of this offering, Manning & Napier intends to use approximately $105.7 million of the net proceeds from this offering to purchase Class A units of Manning & Napier Group held by M&N Group Holdings, which in turn expects to transfer such net proceeds to its members. William Manning, our current employees, including certain of our executive officers, and Richard Goldberg, directly and indirectly, collectively own 100% of the outstanding membership interests of M&N Group Holdings. The purchase price for each Class A unit will be equal to the price per share of our Class A common stock in this offering. M&N Group Holdings expects that its members will transfer such net proceeds as follows: approximately $53.3 million will be paid to William Manning; approximately $3.0 million will be paid to Patrick Cunningham; approximately $3.0 million will be paid to Jeffrey S. Coons; approximately $11.4 million will be paid to B. Reuben Auspitz; approximately $3.0 million will be paid to Charles S. Stamey; approximately $0.8 million will be paid to Beth H. Galusha; and the remaining approximately $31.2 million will be paid to the other minority shareholders of the members of M&N Group Holdings. The remaining net proceeds from this offering, or approximately $3.5 million, will be used by us for general corporate purposes. Manning & Napier Group has not yet determined the amount of the net proceeds it receives that will be used for any specific purpose. Accordingly, its management will have significant flexibility in applying the net proceeds of this offering it receives. Pending the application of the net proceeds from this offering, the net proceeds may be invested in short-term securities or other investment products.