Ameriprise Financial, Inc. (NYSE:AMP):

Earnings Per Diluted Share		Return on Equity, ex AOCI ⁽¹⁾
	Q1 2026		Q1 2026
GAAP	$9.68	GAAP	53.3%
Adjusted Operating	$11.26	Adjusted Operating	54.3%

Raised Quarterly Dividend 6 Percent

First quarter adjusted operating earnings per diluted share increased 19 percent to a record $11.26, reflecting continued asset growth.
First quarter GAAP net income per diluted share was $9.68 compared to $5.83 a year ago due to market impacts on the valuation of derivatives and market risk benefits.
Assets under management, administration and advisement grew to $1.7 trillion, up 12 percent.
Adjusted operating net revenues increased 11 percent to $4.8 billion primarily from asset growth and strong client engagement.
Pretax adjusted operating margin was strong at 28 percent.
During the quarter, Huntington National Bank selected Ameriprise Financial as its new retail investment program provider, which will bring approximately 260 financial advisors and nearly $28 billion in combined advisory, brokerage and insurance assets to the company.
Balance sheet fundamentals continued to be a core differentiator. The company generated and returned significant capital to shareholders with $936 million, or 88 percent of operating earnings, returned in the quarter. Return on equity remains distinguished in the industry at 54 percent⁽¹⁾.
Ameriprise earned one of the highest investor satisfaction scores in the JD Power 2026 U.S. Investor Satisfaction Study^SM, ranking third in the advised investors segment.
Columbia Threadneedle Investments ranked in the top 10 across all time periods in the Barron's Best Fund Families of 2025 ranking.

Perspective from Jim Cracchiolo, Chairman and Chief Executive Officer

"Ameriprise delivered a strong start to the year, with significant revenue and earnings growth driven by the durability of our business and consistent execution of our strategy.

In an environment of heightened market volatility and uncertainty, clients remain highly engaged and well-served by our personalized advice, expert investment perspective and broad product range.

We continue to invest across the business with a clear long-term focus – further enhancing our strong client experience, solutions, technology and AI capabilities.

Our capital strength remains a clear differentiator. During the quarter, we returned 88% of operating earnings to shareholders and today announced an additional 6% increase in our quarterly dividend, further reinforcing our confidence in the business and strong track record of generating shareholder value."

⁽¹⁾ Return on equity excluding AOCI is calculated on a trailing 12-month basis.

Ameriprise Financial, Inc.
First Quarter Summary
	Quarter Ended March 31,						% Better/ (Worse)
(in millions, except per share amounts, unaudited)	2026			2025			% Better/ (Worse)
GAAP net income	$	915		$	583		57%
Adjusted operating earnings
(see reconciliation on p. 24)	$	1,064		$	950		12%

GAAP net income per diluted share	$	9.68		$	5.83		66%
Adjusted operating earnings per diluted share
(see reconciliation on p. 24)	$	11.26		$	9.50		19%

GAAP Return on Equity, ex. AOCI		53.3	%		43.2	%
Adjusted Operating Return on Equity, ex. AOCI
(see reconciliation on p. 26)		54.3	%		52.0	%

Weighted average common shares outstanding:
Basic		93.3			98.5
Diluted		94.5			100.0

First quarter 2026 GAAP results included unfavorable market impacts on the valuation of derivatives and market risk benefits, while the prior-year quarter included larger unfavorable market impacts on the valuation of derivatives and market risk benefits.

Ameriprise Financial, Inc.
Advice & Wealth Management Segment Adjusted Operating Results
	Quarter Ended March 31,						% Better/ (Worse)
(in millions, unaudited)	2026			2025			% Better/ (Worse)
Adjusted operating net revenues	$	3,175		$	2,782		14%

Distribution expenses		1,770			1,554		(14)%
Interest and debt expense		15			12		(25)%
General and administrative expenses		439			424		(4)%
Adjusted operating expenses		2,224			1,990		(12)%
Pretax adjusted operating earnings	$	951		$	792		20%

Pretax adjusted operating margin		30.0	%		28.5	%	150 bps

	Quarter Ended March 31,				% Better/ (Worse)
(in billions, unless otherwise noted)	2026		2025		% Better/ (Worse)
Total client assets	$	1,149	$	1,023	12%
Total client net flows	$	4.2	$	10.3	(59)%
Wrap assets	$	664	$	573	16%
Wrap net flows	$	6.0	$	8.7	(31)%
Cash sweep balances	$	29.4	$	28.6	3%
Adjusted operating net revenue per advisor (TTM in thousands)	$	1,160	$	1,056	10%

Advice & Wealth Management generated strong performance with pretax adjusted operating earnings of $951 million, up 20 percent, with a margin of 30.0 percent. Pretax adjusted operating earnings included a $25 million benefit due to the termination of the Comerica Bank relationship. Core distribution earnings increased in the mid-30 percent range, excluding the benefit from Comerica, resulting from strong operating fundamentals, while spread earnings were essentially flat.

Adjusted operating net revenues increased 14 percent to $3.2 billion reflecting strong client engagement in holistic financial planning and advice relationships. Wrap net inflows and market appreciation contributed to growth in fee-based revenues, while increased sales of annuity products and brokerage transactions drove strong transactional activity.

Adjusted operating expenses increased 12 percent to $2.2 billion, primarily driven by distribution expenses. General and administrative expenses increased $15 million to $439 million, primarily driven by volume-related expenses and investments for growth.

The company delivered strong asset growth and higher advisor productivity, reflecting the strength of the Ameriprise client experience and the company's focus on industry-leading tools, solutions and support.

Adjusted operating net revenue per advisor on a trailing 12-month basis reached a new high of $1.2 million, up 10 percent. The company added 61 experienced advisors in the quarter.
Total client assets grew $126 billion, or 12 percent, to $1.1 trillion and wrap assets increased $91 billion, or 16 percent, to $664 billion driven by organic growth and advisor productivity in a higher but more volatile market environment.
Client flows were $4.2 billion and wrap flows were $6.0 billion in the quarter. This reflected strong underlying organic activity, partially offset by elevated advisor departures, including an acceleration of Comerica advisors.
Transactional activity increased 10 percent compared to the prior year.
Cash sweep balances were stable at $29.4 billion compared to $29.9 billion in the prior quarter, reflecting normal seasonal patterns.
Bank assets increased 6 percent to $25.5 billion, with bank earnings increasing in the mid-single digits percent.

Ameriprise Financial, Inc.
Asset Management Segment Adjusted Operating Results
	Quarter Ended March 31,								% Better/ (Worse)
(in millions, unaudited)	2026				2025				% Better/ (Worse)
Adjusted operating net revenues	$	910			$	846			8%

Distribution expenses		262				246			(7)%
Amortization of deferred acquisition costs		2				2			—%
Interest and debt expense		4				3			(33)%
General and administrative expenses		369				354			(4)%
Adjusted operating expenses		637				605			(5)%
Pretax adjusted operating earnings	$	273			$	241			13%

Net pretax adjusted operating margin ⁽¹⁾		43.8		%		42.7		%


	Quarter Ended March 31,								% Better/ (Worse)
(in billions)	2026				2025				% Better/ (Worse)
Assets Under Management and Advisement ⁽²⁾	$	706			$	657			8%

Net Flows
Global Retail net AUM flows, ex. legacy insurance partners	$	(4.2	)		$	(5.8	)		28%
Model delivery AUA flows ⁽²⁾		0.3				—			—%
Total retail net AUM flows and model delivery AUA flows ⁽²⁾		(3.9	)			(5.8	)		33%

Global Institutional net AUM flows, ex. legacy insurance partners		(1.2	)			(11.5	)		90%

Legacy insurance partners AUM flows		(0.8	)			(1.0	)		14%

Total Net AUM and AUA flows ⁽²⁾	$	(5.9	)		$	(18.3	)		68%

⁽¹⁾ See reconciliation on page 13.
⁽²⁾ Model Delivery Assets Under Advisement are presented on a one-quarter lag. Flows are estimated based on the period-to-period change in assets less calculated performance based on strategy returns.

Asset Management adjusted operating net revenues were $910 million. Pretax adjusted operating earnings increased 13 percent to $273 million reflecting asset growth and the positive impact from expense management actions. Net pretax adjusted operating margin increased to 44 percent. The underlying fee rate remained stable.

Adjusted operating expenses increased 5 percent. General and administrative expenses increased 4 percent driven by volume-related expenses and an unfavorable foreign exchange impact.

Assets under management and advisement increased 8 percent to $706 billion. Investment performance remained strong, most notably with more than 70 percent of retail funds above median versus peers on an asset-weighted basis across 1-, 3- and 5-year periods and 85 percent for the 10-year period. In addition, 95 Columbia Threadneedle funds globally earned four- or five-star ratings from Morningstar.

Net outflows were $5.9 billion, reflecting an improvement in both retail and institutional channels.

Retail and model delivery net outflows improved to $3.9 billion, primarily reflecting higher gross sales in the U.S.
Institutional net outflows improved to $1.2 billion. Stronger gross sales in the quarter included notable wins in Japan equity and liability-driven investment strategies.
Outflows related to legacy insurance partners were $0.8 billion.

Ameriprise Financial, Inc.
Retirement & Protection Solutions Segment Adjusted Operating Results
	Quarter Ended March 31,				% Better/ (Worse)
(in millions, unaudited)	2026		2025		% Better/ (Worse)
Adjusted operating net revenues	$	952	$	926	3%
Adjusted operating expenses		762		711	(7)%
Pretax adjusted operating earnings	$	190	$	215	(12)%

Retirement & Protection Solutions pretax adjusted operating earnings were $190 million, reflecting higher distribution expenses associated with strong sales levels and continued outflows from variable annuities with living benefits, partially offset by higher average equity markets. We continue to expect earnings to be in our target range over time.

Retirement & Protection Solutions sales increased 10 percent to $1.3 billion, with continued strong client demand for structured variable annuities, variable annuities without living benefit riders and variable universal life insurance.

These high-quality books of business continued to generate strong free cash flow with excellent risk-adjusted returns and are an important contributor to our diversified business model.

Ameriprise Financial, Inc.
Corporate & Other Segment Adjusted Operating Results
	Quarter Ended March 31,						% Better/ (Worse)
(in millions, unaudited)		2026			2025		% Better/ (Worse)
Corporate & Other	$	(79	)	$	(103	)	23%
Closed Blocks ⁽¹⁾		(2	)		6		NM
Pretax adjusted operating earnings/(loss)	$	(81	)	$	(97	)	16%

Long Term Care	$	7		$	14		(50)%
Fixed Annuities		(9	)		(8	)	(13)%
Pretax adjusted operating earnings/(loss)	$	(2	)	$	6		NM

⁽¹⁾ Long Term Care and Fixed Annuities.
NM Not Meaningful - variance equal to or greater than 100%

Corporate & Other, excluding Closed Blocks pretax adjusted operating loss was $79 million.

Long Term Care pretax adjusted operating earnings were $7 million in the quarter, a continuation of a solid performance trend.

Fixed Annuities pretax adjusted operating loss was $9 million.

Taxes

The operating effective tax rate was 20.2 percent for the first quarter. The operating effective tax rate is expected to be 20 to 22 percent for the full year 2026.

About Ameriprise Financial

At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 130 years. With extensive investment advice, global asset management capabilities and insurance solutions, and a nationwide network of more than 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.

Ameriprise Financial Services, LLC offers financial planning services, investments, insurance and annuity products. Columbia Funds are distributed by Columbia Management Investment Distributors, Inc., member FINRA and managed by Columbia Management Investment Advisers, LLC. Threadneedle International Limited, Columbia Threadneedle Asset Managers Limited, Columbia Threadneedle (EM) Investments Limited, and Pyrford International Ltd, are SEC- and FCA-registered investment adviser affiliates of Columbia Management Investment Advisers, LLC based in the U.K. RiverSource insurance and annuity products are issued by RiverSource Life Insurance Company, and in New York only by RiverSource Life Insurance Co. of New York, Albany, New York. Only RiverSource Life Insurance Co. of New York is authorized to sell insurance and annuity products in the state of New York. These companies are part of Ameriprise Financial, Inc. CA License #0684538. RiverSource Distributors, Inc. (Distributor), Member FINRA.

Non-GAAP Financial Measures

The company believes the presentation of adjusted operating measures and other non-GAAP financial measures, and the corresponding ratios, best represents the underlying performance of our core operations and facilitates a more meaningful trend analysis without the distortion of various adjustment items. Management uses non-GAAP financial measures to evaluate our financial performance on a basis comparable to that used by some securities analysts and investors and to provide a valuable perspective for investors. These non-GAAP financial measures are taken into consideration, to varying degrees, for purposes of business planning and analysis and for certain compensation-related matters. Non-GAAP financial measures are intended to supplement investors' understanding of our performance and should not be considered alternatives for financial measures presented in accordance with GAAP. These measures are discussed in more detail below and may not be comparable to other companies' similarly titled non-GAAP financial measures. Non-GAAP financial measure reconciliations can be found on the subsequent pages.

Forward-Looking Statements

This news release contains forward-looking statements that reflect management's plans, estimates and beliefs. Actual results could differ materially from those described in these forward-looking statements. Examples of such forward-looking statements include:

statements of the company's plans, intentions, positioning, expectations, objectives or goals, including those relating to asset flows, mass affluent and affluent client acquisition strategy, client retention and growth of our client base, financial advisor productivity, retention, recruiting and enrollments, the introduction, cessation, terms or pricing of new or existing products and services, general and administrative costs, net pretax adjusted operating margin, consolidated tax rate, return of capital to shareholders, and excess capital position and financial flexibility to capture additional growth opportunities;
other statements about future economic performance, the performance of equity markets and interest rate forecasts or variations, and the economic performance of the United States and of global markets; and
statements regarding the expected earnings for our Retirement and Protection Solutions segment;
statements estimating the expected full year 2026 operating effective tax rate; and
statements of assumptions underlying such statements.

The words "believe," "expect," "anticipate," "optimistic," "intend," "plan," "aim," "will," "may," "should," "could," "would," "likely," "forecast," "on track," "project," "continue," "able to remain", "resume," "deliver," "develop," "evolve," "drive," "enable," "flexibility," "commitment," "scenario," "case," "appear," "expands" and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from such statements.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Management cautions readers to carefully consider the risks described in the "Risk Factors" discussion under Part 1, Item 1A of and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025 available at ir.ameriprise.com. Management undertakes no obligation to update publicly or revise any forward-looking statements.

The financial results discussed in this news release represent past performance only, which may not be used to predict or project future results. The financial results and values presented in this news release are based upon asset valuations that represent estimates as of the date of this news release and may be revised in the company's Form 10-Q for the period ended March 31, 2026.

Ameriprise Financial announces financial and other information to investors through the company's investor relations website at ir.ameriprise.com, as well as SEC filings, press releases, public conference calls and webcasts. Investors and others interested in the company are encouraged to visit the investor relations website from time to time, as information is updated and new information is posted. The website also allows users to sign up for automatic notifications in the event new materials are posted. The information found on the website is not incorporated by reference into this release or in any other report or document the company furnishes or files with the SEC.

Credential Sources

JD Power 2026 U.S. Investor Satisfaction Study^SM recognition is based on feedback provided by investors, including 399 Ameriprise Financial clients, about their primary wealth management firm. Data was collected January 2025 through January 2026, resulting in 7,982 completed surveys overall among advised investors. Ameriprise Financial ranked third among advised investors in overall satisfaction. This ranking is not indicative of future performance or representative of any one client's experience, which may vary. Ameriprise did not pay a fee to be evaluated but did pay a fee to review and publicly cite the results. For more information: https://www.jdpower.com/business/investor-satisfaction-study.

Barron's: March 2, 2026

Barron's Best Fund Families Methodology Barron's evaluates fund families based on the asset‑weighted returns of their actively managed funds relative to peers in their respective Lipper categories. Key components of the methodology include:

Each fund's performance is ranked within its LSEG Lipper category on a percentile basis.
Rankings are asset‑weighted relative to the fund family's other assets in its general classification, meaning larger funds have a proportionally greater impact on a firm's overall score.
Excluded from consideration are index funds, but actively managed ETFs and so-called smart-beta ETFs, which are passively managed but created from active strategies, are included.
Finally, the score is multiplied by the weighting of its general classification, as determined by the Lipper universe of funds.

To qualify, a firm must offer a minimum number of funds across equity and fixed income categories.

Ameriprise Financial, Inc.
Consolidated GAAP Results
(in millions, except per share amounts, unaudited)	1 Qtr 2026			1 Qtr 2025			% Better/ (Worse)	4 Qtr 2025		% Better/ (Worse)
Revenues
Management and financial advice fees	$	2,944		$	2,602		13%	$	3,096	(5)%
Distribution fees		563			522		8%		554	2%
Net investment income		872			868		—%		891	(2)%
Premiums, policy and contract charges		341			360		(5)%		373	(9)%
Other revenues		166			129		29%		133	25%
Total revenues		4,886			4,481		9%		5,047	(3)%
Banking and deposit interest expense		74			127		42%		87	15%
Total net revenues		4,812			4,354		11%		4,960	(3)%

Expenses
Distribution expenses		1,773			1,612		(10)%		1,819	3%
Interest credited to fixed accounts		142			130		(9)%		109	(30)%
Benefits, claims, losses and settlement expenses		317			381		17%		322	2%
Remeasurement (gains) losses of future policy benefit reserves		(1	)		(10	)	(90)%		1	NM
Change in fair value of market risk benefits		378			497		24%		215	(76)%
Amortization of deferred acquisition costs		61			61		—%		61	—%
Interest and debt expense		80			80		—%		80	—%
General and administrative expense		918			916		—%		1,061	13%
Total expenses		3,668			3,667		—%		3,668	—%

Pretax income		1,144			687		67%		1,292	(11)%
Income tax provision		229			104		NM		284	19%
Net income	$	915		$	583		57%	$	1,008	(9)%

Earnings per share
Basic earnings per share	$	9.81		$	5.92			$	10.63
Earnings per diluted share	$	9.68		$	5.83			$	10.47

Weighted average common shares outstanding
Basic		93.3			98.5				94.8
Diluted		94.5			100.0				96.3

NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Consolidated Highlights and Capital Summary
(in millions unless otherwise noted, unaudited)	1 Qtr 2026			1 Qtr 2025			% Better/ (Worse)	4 Qtr 2025			% Better/ (Worse)

Assets Under Management, Administration and Advisement
Advice & Wealth Management AUM	$	660,620		$	569,137		16%	$	666,437		(1)%
Asset Management AUM		661,622			621,378		6%		678,105		(2)%
Corporate AUM		1,011			595		70%		906		12%
Eliminations		(45,931	)		(44,170	)	(4)%		(47,630	)	4%
Assets Under Management		1,277,322			1,146,940		11%		1,297,818		(2)%
Assets Under Administration		348,708			314,055		11%		355,503		(2)%
Assets Under Advisement (net of eliminations) ⁽¹⁾		42,176			33,665		25%		40,830		3%
Total Assets Under Management, Administration and Advisement	$	1,668,206		$	1,494,660		12%	$	1,694,151		(2)%

S&P 500
Daily average		6,816			5,899		16%		6,776		1%
Period end		6,529			5,612		16%		6,846		(5)%

Weighted Equity Index (WEI) ⁽²⁾
Daily average		4,343			3,713		17%		4,265		2%
Period end		4,157			3,554		17%		4,317		(4)%

Common shares
Beginning balance		91.3			96.2		(5)%		93.1		(2)%
Repurchases		(1.6	)		(1.2	)	(33)%		(1.8	)	11%
Issuances		0.6			0.8		(25)%		—		—%
Other		(0.2	)		(0.3	)	33%		—		—%
Total common shares outstanding		90.1			95.5		(6)%		91.3		(1)%
Restricted stock units		2.3			2.4		(4)%		2.4		(4)%
Total basic common shares outstanding		92.4			97.9		(6)%		93.7		(1)%
Total potentially dilutive shares		1.1			1.5		(27)%		1.5		(27)%
Total diluted shares		93.5			99.4		(6)%		95.2		(2)%

Capital Returned to Shareholders
Dividends paid	$	152		$	148		3%	$	153		(1)%
Common stock share repurchases		784			617		27%		897		(13)%
Total Capital Returned to Shareholders	$	936		$	765		22%	$	1,050		(11)%

⁽¹⁾Assets reported on a one quarter lag.
⁽²⁾ Weighted Equity Index is an Ameriprise calculated proxy for equity market movements calculated using a weighted average of the S&P 500, Russell 2000, Russell Midcap and MSCI EAFE indices based on North America distributed equity assets.

Ameriprise Financial, Inc.
Advice & Wealth Management Segment Adjusted Operating Results
(in millions, unaudited)	1 Qtr 2026			1 Qtr 2025			% Better/ (Worse)	4 Qtr 2025			% Better/ (Worse)

Revenues
Management and financial advice fees:
Advisory fees	$	1,797		$	1,515		19%	$	1,785		1%
Financial planning fees		115			110		5%		146		(21)%
Transaction and other fees		99			94		5%		98		1%
Total management and financial advice fees		2,011			1,719		17%		2,029		(1)%
Distribution fees:
Mutual funds		237			214		11%		237		—%
Insurance and annuity		260			243		7%		275		(5)%
Off-Balance sheet brokerage cash		26			36		(28)%		20		30%
Other products		141			120		18%		130		8%
Total distribution fees		664			613		8%		662		—%
Net investment income		455			500		(9)%		475		(4)%
Other revenues		119			77		55%		83		43%
Total revenues		3,249			2,909		12%		3,249		—%
Banking and deposit interest expense		74			127		42%		87		15%
Adjusted operating total net revenues		3,175			2,782		14%		3,162		—%

Expenses
Distribution expenses		1,770			1,554		(14)%		1,757		(1)%
Interest and debt expense		15			12		(25)%		15		—%
General and administrative expense		439			424		(4)%		464		5%
Adjusted operating expenses		2,224			1,990		(12)%		2,236		1%
Pretax adjusted operating earnings	$	951		$	792		20%	$	926		3%

Pretax adjusted operating margin		30.0	%		28.5	%			29.3	%

Ameriprise Financial, Inc.
Advice & Wealth Management Segment Operating Metrics
(in millions unless otherwise noted, unaudited)	1 Qtr 2026			1 Qtr 2025			% Better/ (Worse)	4 Qtr 2025			% Better/ (Worse)
AWM Total Client Assets	$	1,148,514		$	1,022,520		12%	$	1,165,367		(1)%

Total Client Flows	$	4,226		$	10,275		(59)%	$	13,335		(68)%

Total Wrap Accounts
Beginning assets	$	670,361		$	573,881		17%	$	650,302		3%
Net flows		6,016			8,724		(31)%		12,052		(50)%
Market appreciation (depreciation) and other		(12,210	)		(9,834	)	(24)%		8,007		NM
Total wrap ending assets	$	664,167		$	572,771		16%	$	670,361		(1)%

Advisory wrap account assets ending balance ⁽¹⁾	$	658,620		$	567,371		16%	$	664,427		(1)%

AWM Cash Balances
On-balance sheet (Net Investment Income)
On-balance sheet - bank	$	23,768		$	22,669		5%	$	23,663		—%
On-balance sheet - certificate		7,556			10,685		(29)%		8,155		(7)%
On-balance sheet - broker dealer		1,966			2,308		(15)%		1,948		1%
Total on-balance sheet		33,290			35,662		(7)%		33,766		(1)%
Off-balance sheet (Distribution Fees)
Off-balance sheet - broker dealer		4,669			4,344		7%		5,147		(9)%
Total AWM Cash Balances	$	37,959		$	40,006		(5)%	$	38,913		(2)%

Bank - Net Investment Income
Average interest-bearing assets	$	25,238		$	24,176		4%	$	24,663		2%
Gross fee yield ⁽²⁾		4.61	%		4.68	%			4.61	%

Certificates - Net Investment Income
Average interest-bearing assets	$	8,354		$	11,746		(29)%	$	9,087		(8)%
Gross fee yield ⁽²⁾		4.67	%		5.11	%			4.83	%

Other - Net Investment Income
Average interest-bearing assets	$	5,610		$	5,205		8%	$	5,371		4%
Gross fee yield ⁽²⁾		5.28	%		5.82	%			5.72	%

Off-balance sheet - broker dealer - Distribution Fees
Average balances	$	4,665		$	5,151		(9)%	$	3,580		30%
Net fee yield		2.28	%		2.81	%			2.28	%

⁽¹⁾ Advisory wrap account assets represent those assets for which clients receive advisory services and are the primary driver of revenue earned on wrap accounts. Clients may hold non-advisory investments in their wrap accounts that do not incur an advisory fee.
⁽²⁾Gross fee yield is calculated using amortized cost of investments.
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Asset Management Segment Adjusted Operating Results
(in millions, unaudited)	1 Qtr 2026			1 Qtr 2025			% Better/ (Worse)	4 Qtr 2025			% Better/ (Worse)

Revenues
Management and financial advice fees:
Asset management fees:
Retail	$	563		$	530		6%	$	568		(1)%
Institutional		145			134		8%		266		(45)%
Model delivery		27			22		23%		26		4%
Transaction and other fees		53			50		6%		54		(2)%
Revenue from other sources ⁽¹⁾		2			4		(50)%		3		(33)%
Total management and financial advice fees		790			740		7%		917		(14)%
Distribution fees:
Mutual funds		61			55		11%		61		—%
Insurance and annuity		39			39		—%		40		(3)%
Total distribution fees		100			94		6%		101		(1)%
Net investment income		14			5		NM		15		(7)%
Other revenues		6			7		(14)%		6		—%
Total revenues		910			846		8%		1,039		(12)%
Banking and deposit interest expense		—			—		—%		—		—%
Adjusted operating total net revenues		910			846		8%		1,039		(12)%

Expenses
Distribution expenses		262			246		(7)%		265		1%
Amortization of deferred acquisition costs		2			2		—%		2		—%
Interest and debt expense		4			3		(33)%		3		(33)%
General and administrative expense		369			354		(4)%		476		22%
Adjusted operating expenses		637			605		(5)%		746		15%
Pretax adjusted operating earnings	$	273		$	241		13%	$	293		(7)%

Net Pretax Adjusted Operating Margin Reconciliation
Adjusted operating total net revenues	$	910		$	846		8%	$	1,039		(12)%
Distribution pass through revenues		(206	)		(195	)	(6)%		(208	)	1%
Subadvisory and other pass through revenues		(103	)		(91	)	(13)%		(106	)	3%
Net adjusted operating revenues		601			560		7%		725		(17)%

Pretax adjusted operating earnings	$	273		$	241		13%	$	293		(7)%
Adjusted operating net investment income		(14	)		(5	)	NM		(15	)	7%
Amortization of intangibles		4			3		33%		15		(73)%
Net adjusted operating earnings	$	263		$	239		10%	$	293		(10)%

Pretax adjusted operating margin		30.0	%		28.5	%			28.2	%
Net pretax adjusted operating margin ⁽²⁾		43.8	%		42.7	%			40.4	%

Total Performance fees⁽³⁾
Performance fees	$	4		$	1		NM	$	120		(97)%
General and administrative expense related to performance fees		—			—		—%		77		NM
Net performance fees	$	4		$	1		NM	$	43		(91)%

⁽¹⁾ Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards.
⁽²⁾ Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.
⁽³⁾ Performance fees do not include CLO incentive fees.
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Asset Management Segment Operating Metrics
(in millions, unaudited)	1 Qtr 2026			1 Qtr 2025			% Better/ (Worse)	4 Qtr 2025			% Better/ (Worse)

Managed Assets Rollforward
Global Retail Funds
Beginning assets	$	378,023		$	352,737		7%	$	378,306		—%
Inflows		17,088			14,966		14%		13,585		26%
Outflows		(20,721	)		(20,079	)	(3)%		(19,733	)	(5)%
Net VP/VIT fund flows		(1,772	)		(1,646	)	(8)%		(1,824	)	3%
Net new flows		(5,405	)		(6,759	)	20%		(7,972	)	32%
Reinvested dividends		1,216			958		27%		10,710		(89)%
Net flows		(4,189	)		(5,801	)	28%		2,738		NM
Distributions		(1,291	)		(1,021	)	(26)%		(11,770	)	89%
Market appreciation (depreciation) and other		(2,984	)		(7,837	)	62%		8,608		NM
Foreign currency translation ⁽¹⁾		(1,325	)		2,275		NM		141		NM
Total ending assets		368,234			340,353		8%		378,023		(3)%
% of total retail assets sub-advised		13.7	%		15.7	%			13.2	%

Global Institutional
Beginning assets		300,082			292,176		3%		296,414		1%
Inflows ⁽²⁾		12,963			9,588		35%		12,088		7%
Outflows ⁽²⁾		(14,968	)		(22,002	)	32%		(13,950	)	(7)%
Net flows		(2,005	)		(12,414	)	84%		(1,862	)	(8)%
Market appreciation (depreciation) and other ⁽³⁾		(2,151	)		(3,034	)	29%		5,237		NM
Foreign currency translation ⁽¹⁾		(2,538	)		4,297		NM		293		NM
Total ending assets		293,388			281,025		4%		300,082		(2)%

Total managed assets	$	661,622		$	621,378		6%	$	678,105		(2)%

Total Assets Under Advisement ⁽⁴⁾		44,485			35,320		26%		42,925		4%
Total Assets Under Management & Advisement	$	706,107		$	656,698		8%	$	721,030		(2)%

Total AUM net flows	$	(6,194	)	$	(18,215	)	66%	$	876		NM
Model delivery AUA flows⁽⁵⁾		315			(35	)	NM		1,085		(71)%
Total AUM and AUA Flows ⁽⁵⁾	$	(5,879	)	$	(18,250	)	68%	$	1,961		NM

Legacy insurance partners flows	$	(838	)	$	(978	)	14%	$	(1,351	)	38%

⁽¹⁾ Amounts represent local currency to U.S. dollar translation for reporting purposes.
⁽²⁾ Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB.
⁽³⁾ Included in Market appreciation (depreciation) and other for Global Institutional is the change in affiliated general account balance excluding net flows related to our Structured Annuity product and Ameriprise Bank, FSB.
⁽⁴⁾ Assets are presented on a one-quarter lag.
⁽⁵⁾ AUA flows are estimated flows based on the period-to-period change in assets less calculated performance based on strategy returns on a one-quarter lag.
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Asset Management Segment Operating Metrics
(in millions, unaudited)	1 Qtr 2026		1 Qtr 2025		% Better/ (Worse)	4 Qtr 2025		% Better/ (Worse)

Total Managed Assets by Type
Equity	$	355,890	$	325,225	9%	$	370,489	(4)%
Fixed income		234,180		228,854	2%		234,201	—%
Money market		22,209		20,300	9%		23,358	(5)%
Alternative		29,592		27,845	6%		29,659	—%
Hybrid and other		19,751		19,154	3%		20,398	(3)%
Total managed assets by type	$	661,622	$	621,378	6%	$	678,105	(2)%

Average Managed Assets by Type ⁽¹⁾
Equity	$	373,343	$	340,514	10%	$	370,584	1%
Fixed income		236,101		231,937	2%		234,022	1%
Money market		22,061		19,683	12%		21,567	2%
Alternative		29,921		30,173	(1)%		29,330	2%
Hybrid and other		20,423		19,545	4%		20,565	(1)%
Total average managed assets by type	$	681,849	$	641,852	6%	$	676,068	1%

⁽¹⁾ Average ending balances are calculated using the average of the prior period's ending balance and all months in the current period.

Ameriprise Financial, Inc.
Asset Management Segment Performance Metrics
	1 Qtr 2026

Retail Fund Rankings in Top 2 Quartiles or Above Index Benchmark - Asset Weighted	1 year	3 year	5 year	10 year
Equity	77%	71%	74%	84%
Fixed Income	74%	81%	63%	89%
Asset Allocation	39%	83%	73%	87%

4- or 5-star Morningstar rated funds	Overall	3 year	5 year	10 year
Number of Rated Funds	95	76	71	80

Retail Fund performance rankings for each fund are measured on a consistent basis against the most appropriate peer group or index. Peer groupings of Columbia funds are defined by Lipper category and are based on the Primary Share Class (i.e., Institutional if available, otherwise Institutional 3 share class), net of fees. Peer groupings of Threadneedle are defined by either IA or Morningstar index and are based on Primary Share Class. Comparisons to Index are measured Gross of Fees.

To calculate asset weighted performance, the sum of the total assets of the funds with above median ranking are divided by total assets of all funds. Funds with more assets will receive a greater share of the total percentage above or below median.

Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income.

Morningstar as of 03/31/26. Columbia funds are available for purchase by U.S. customers. Out of 86 Columbia funds rated (based on primary share class), 3 received a 5-star Overall Rating and 40 received a 4-star Overall Rating. Out of 129 Threadneedle funds rated (based on highest-rated share class), 12 received a 5-star Overall Rating and 40 received a 4-star Overall Rating. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics. Not all funds are available in all jurisdictions, to all investors or through all firms.

© 2026 Morningstar. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Ameriprise Financial, Inc.
Retirement & Protection Solutions Segment Adjusted Operating Results
(in millions, unaudited)	1 Qtr 2026			1 Qtr 2025			% Better/ (Worse)	4 Qtr 2025			% Better/ (Worse)

Revenues
Management and financial advice fees	$	186		$	185		1%	$	194		(4)%
Distribution fees		103			102		1%		107		(4)%
Net investment income		336			296		14%		332		1%
Premiums, policy and contract charges		326			341		(4)%		357		(9)%
Other revenues		1			2		(50)%		1		—%
Total revenues		952			926		3%		991		(4)%
Banking and deposit interest expense		—			—		—%		—		—%
Adjusted operating total net revenues		952			926		3%		991		(4)%

Expenses
Distribution expenses		132			123		(7)%		137		4%
Interest credited to fixed accounts		93			92		(1)%		93		—%
Benefits, claims, losses and settlement expenses		235			211		(11)%		237		1%
Remeasurement (gains) losses of future policy benefit reserves		(2	)		(3	)	(33)%		(5	)	(60)%
Change in fair value of market risk benefits		155			143		(8)%		173		10%
Amortization of deferred acquisition costs		58			57		(2)%		58		—%
Interest and debt expense		10

Ameriprise Financial Reports First Quarter 2026 Results