# EDGAR Filing Document

**Accession Number:** 0000820027
**File Stem:** 0000820027-26-000004
**Filing Date:** 2026-1
**Character Count:** 128469
**Document Hash:** bb9821fc6bce4f3c0afe66bcdf107510
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000820027-26-000004.hdr.sgml**: 20260129

**ACCESSION NUMBER**: 0000820027-26-000004

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20260129

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260129

**DATE AS OF CHANGE**: 20260129

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMERIPRISE FINANCIAL INC
- **CENTRAL INDEX KEY:** 0000820027
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 133180631
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32525
- **FILM NUMBER:** 26574613

**BUSINESS ADDRESS:**
- **STREET 1:** 1099 AMERIPRISE FINANCIAL CENTER
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55474
- **BUSINESS PHONE:** 612-671-8001

**MAIL ADDRESS:**
- **STREET 1:** 1099 AMERIPRISE FINANCIAL CENTER
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55474

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN EXPRESS FINANCIAL CORP
- **DATE OF NAME CHANGE:** 20030513

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICAN EXPRESS FINANCIAL ADVISORS
- **DATE OF NAME CHANGE:** 19950711

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IDS FINANCIAL CORP/MN/
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? amp-20260129

---

| | |
|:---|:---|
| **UNITED STATES** | **UNITED STATES** |
| **SECURITIES AND EXCHANGE COMMISSION** | **SECURITIES AND EXCHANGE COMMISSION** |
| **WASHINGTON, D.C. 20549** | **WASHINGTON, D.C. 20549** |
| **FORM** | **8-K** |
| **CURRENT REPORT** | **CURRENT REPORT** |
| **Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934** | **Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934** |

---

---

| | |
|:---|:---|
| Date of Report (Date of earliest event reported): | **January 29, 2026** |

---

---

| |
|:---|
| **AMERIPRISE FINANCIAL, INC.** |
| (Exact name of registrant as specified in its charter) |

---

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-32525** | **13-3180631** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

---

| | | | |
|:---|:---|:---|:---|
| **1099 Ameriprise Financial Center** | **Minneapolis** | **Minnesota** | **55474** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |

---

---

| | | |
|:---|:---|:---|
| Registrant's telephone number, including area code | **612** | **671-3131** |

---

---

| | |
|:---|:---|
| Former name or former address, if changed since last report: | &nbsp;&nbsp;&nbsp;**Not Applicable** |

---

---

| | |
|:---|:---|
| Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below): | Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below): |
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

---

| | | |
|:---|:---|:---|
| Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: | Securities registered pursuant to Section 12(b) of the Act: |
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock (par value $.01 per share) | AMP | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

---

| | |
|:---|:---|
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ |

---

------

**Item 2.02**&nbsp;&nbsp;&nbsp;&nbsp; **Results of Operations and Financial Condition.**

Ameriprise Financial, Inc. furnishes herewith, on Exhibit 99.1, a press release issued January 29, 2026 announcing its financial results for the fourth quarter of 2025.

**Item 9.01**&nbsp;&nbsp;&nbsp;&nbsp; **Financial Statements and Exhibits.**

(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| <u>[Exhibit 99.1](q42025er.htm)</u> | Press Release dated January 29, 2026 announcing financial results for the fourth quarter of 2025 |
| Exhibit 104 | Cover page Interactive Data File (embedded within the Inline eXtensible Business Reporting Language) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>AMERIPRISE FINANCIAL, INC.</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>AMERIPRISE FINANCIAL, INC.</u> |
| | | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) |
| Date: | January 29, 2026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By: | /s/ Walter S. Berman |
|  |  |  | Walter S. Berman |
|  |  |  | Executive Vice President and |
|  |  |  | Chief Financial Officer |

---

## Exhibit 99.1

---

| | |
|:---|:---|
| ![ameriprise_bluexlogoxregul.jpg](ameriprise_bluexlogoxregul.jpg) | Ameriprise Financial, Inc.<br>Minneapolis, MN<br>NYSE: AMP<br>January 29, 2026 |

---

**Ameriprise Financial Reports**

**Fourth Quarter and Full Year 2025 Results**

<br> ---

| | | | | |
|:---|:---|:---|:---|:---|
| Earnings Per Diluted Share | Earnings Per Diluted Share | Earnings Per Diluted Share | Return on Equity, ex AOCI <sup>(1)</sup> | Return on Equity, ex AOCI <sup>(1)</sup> |
|  | <u>Q4 2025</u> | <u>FY 2025</u> |  | <u>Q4 2025</u> |
| GAAP | $10.47 | $36.28 | GAAP | 49.1% |
| Adjusted Operating  | $10.83 | $39.29 | Adjusted Operating | 53.2% |

---

• Fourth quarter adjusted operating earnings per diluted share increased 16 percent to a record $10.83. Results reflected continued asset growth and expense discipline.

• Full year 2025 adjusted operating earnings per diluted share increased 14 percent to $39.29.

• Fourth quarter GAAP net income per diluted share was $10.47 compared to $10.58 a year ago. Full year 2025 GAAP net income per diluted share was $36.28 compared to $33.05 in 2024.

• Assets under management, administration and advisement reached a record high of $1.7 trillion, up 11 percent.

• Adjusted operating net revenues increased 10 percent to <br>$4.9 billion primarily from asset growth and strong client engagement.

• Pretax adjusted operating margin was very strong at <br>27 percent.

• The company increased its return of capital to shareholders to $1.1 billion or 101 percent of adjusted operating earnings in the quarter and $3.4 billion or 88 percent of adjusted operating earnings for the full year, reinforcing its substantial free cash flow generation and capital return track record.

• Balance sheet fundamentals remained excellent with significant excess capital and holding company available liquidity, as well as a best-in-class adjusted operating return on equity of 53 percent.<sup>(1)</sup>

• Ameriprise Financial was recognized as a Top 250 firm on the Wall Street Journal Best-Managed Companies of 2025 ranking.

• Ameriprise Financial ranked in the top 50 for TIME's 2026 list of America's Most Iconic Companies highlighting the firm's enduring legacy, industry leadership and positive impact on clients, advisors, employees and communities.

---

| |
|:---|
| **Perspective from Jim Cracchiolo, Chairman and Chief Executive Officer** |
| "Ameriprise delivered a record fourth quarter with robust client activity, resulting in one of our best quarters for client inflows and strong asset growth. Our disciplined execution and excellent client experience are driving meaningful growth.<br>We generated all-time highs for revenue, earnings and EPS for both the quarter and the full year, and our return on equity continued to be best in class.<br>Leveraging our strong capital position, we increased our return to shareholders in the fourth quarter to more than 100% of adjusted operating earnings.<br>Building on our significant marketplace recognition, Ameriprise was honored to be the highest ranked diversified financial services firm on TIME's list of "America's Most Iconic Companies for 2026." |

---

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

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** | **Fourth Quarter Summary** |
| | **Quarter Ended**<br>**December 31,** | **Quarter Ended**<br>**December 31,** | **Quarter Ended**<br>**December 31,** | **Quarter Ended**<br>**December 31,** | **% Better/<br>(Worse)** | **Year-to-date<br>December 31,** | **Year-to-date<br>December 31,** | **Year-to-date<br>December 31,** | **Year-to-date<br>December 31,** | **% Better/<br>(Worse)** |
| (in millions, except per share amounts, unaudited) | **2025** | **2025** | **2024** | **2024** | **% Better/<br>(Worse)** | **2025** | **2025** | **2024** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;GAAP net income | $1008 |  | $1071 |  | (6)% | $3563 |  | $3401 |  | 5% |
| &nbsp;&nbsp;Adjusted operating earnings <br>&nbsp;&nbsp;&nbsp;&nbsp;(see reconciliation on p. 24 & 25) | $1043 |  | $947 |  | 10% | $3858 |  | $3535 |  | 9% |
| &nbsp;&nbsp;GAAP net income per diluted share | $10.47 |  | $10.58 |  | (1)% | $36.28 |  | $33.05 |  | 10% |
| &nbsp;&nbsp;Adjusted operating earnings per diluted share<br>&nbsp;&nbsp;&nbsp;&nbsp;(see reconciliation on p. 24 & 25) | $10.83 |  | $9.36 |  | 16% | $39.29 |  | $34.35 |  | 14% |
| &nbsp;&nbsp;GAAP Return on Equity, ex. AOCI | 49.1 | % | 49.7 | % |  | 49.1 | % | 49.7 | % |  |
| &nbsp;&nbsp;Adjusted Operating Return on Equity, ex. AOCI<br>&nbsp;&nbsp;&nbsp;&nbsp;(see reconciliation on p. 27) | 53.2 | % | 51.6 | % |  | 53.2 | % | 51.6 | % |  |
| &nbsp;&nbsp;Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Basic | 94.8 |  | 99.2 |  |  | 96.7 |  | 101.0 |  |  |
| &nbsp;&nbsp; Diluted | 96.3 |  | 101.2 |  |  | 98.2 |  | 102.9 |  |  |

---

Fourth quarter 2025 GAAP results included unfavorable market impacts on the valuation of derivatives and market risk benefits, while the prior-year quarter included favorable market impacts on the valuation of derivatives and market risk benefits.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** |
| | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **% Better/<br>(Worse)** |
| (in millions, unaudited) | **2025** | **2025** | **2024** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;Adjusted operating net revenues | $3162 |  | $2834 |  | 12% |
| &nbsp;&nbsp;Distribution expenses | 1757 |  | 1563 |  | (12)% |
| &nbsp;&nbsp;Interest and debt expense | 15 |  | 10 |  | (50)% |
| &nbsp;&nbsp;General and administrative expenses | 464 |  | 438 |  | (6)% |
| &nbsp;&nbsp;Adjusted operating expenses  | 2236 |  | 2011 |  | (11)% |
| &nbsp;&nbsp;Pretax adjusted operating earnings  | $926 |  | $823 |  | 13% |
| &nbsp;&nbsp;Pretax adjusted operating margin | 29.3 | % | 29.0 | % | 30 bps |

---

---

| | | | |
|:---|:---|:---|:---|
| | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **% Better/<br>(Worse)** |
| (in billions, unless otherwise noted) | **2025** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;Total client assets | $1165 | $1029 | 13% |
| &nbsp;&nbsp;Total client net flows | $13.3 | $11.3 | 18% |
| &nbsp;&nbsp;Wrap assets | $670 | $574 | 17% |
| &nbsp;&nbsp;Wrap net flows | $12.1 | $11.1 | 9% |
| &nbsp;&nbsp;Cash sweep balances | $29.9 | $29.8 | —% |
| &nbsp;&nbsp;Adjusted operating net revenue per advisor (TTM in thousands) | $1122 | $1037 | 8% |

---

**Advice & Wealth Management** generated strong underlying growth and performance with record pretax adjusted operating earnings of $926 million, up 13 percent, with a margin of 29.3 percent. Core earnings increased in the mid-20 percentage range, benefiting from higher client assets and well-controlled expenses, while spread earnings increased very modestly.

Adjusted operating net revenues increased 12 percent to $3.2 billion reflecting strong client engagement in holistic financial planning and advice relationships. Strong wrap net inflows and market appreciation contributed to growth in fee-based revenues, while increased sales in annuity products and brokerage transactions drove strong transactional activity.

Adjusted operating expenses increased 11 percent to $2.2 billion, primarily driven by consistent growth in advisor productivity. General and administrative expenses were in line with expectations, up 6 percent to $464 million, primarily driven by volume- and growth-related expenses, offset by strong expense discipline. Full year G&A expenses increased 5 percent, in line with our prior guidance.

Performance metrics were strong across all measures, reflecting the strength of the Ameriprise client experience and the company's focus on helping advisors drive productivity growth through industry-leading tools, solutions and support.

• Total client assets grew 13 percent to a record high of $1.2 trillion, with strong client flows of $13.3 billion, representing a 4.7 percent annualized flow rate.

• Wrap assets increased 17 percent to a record high of $670 billion, with $12.1 billion of net inflows in the quarter, representing a 7.4 percent annualized flow rate.

• Adjusted operating net revenue per advisor on a trailing 12-month basis reached a new high of $1.1 million, up 8 percent from enhanced productivity.

• Experienced advisor recruiting remained strong with 91 experienced advisors moving their practices to Ameriprise in the quarter.

• Transactional activity increased 5 percent compared to the prior year.

• Cash sweep balances increased to $29.9 billion compared to $27.1 billion in the prior quarter.

• Bank assets grew 7 percent to $25.3 billion, providing sustainable net investment income in this forecasted lower rate environment.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** |
| | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **% Better/<br>(Worse)** |
| (in millions, unaudited) | **2025** | **2025** | **2024** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;Adjusted operating net revenues | $1039 |  | $930 |  | 12% |
| &nbsp;&nbsp;Distribution expenses | 265 |  | 253 |  | (5)% |
| &nbsp;&nbsp;Amortization of deferred acquisition costs | 2 |  | 2 |  | —% |
| &nbsp;&nbsp;Interest and debt expense | 3 |  | 2 |  | (50)% |
| &nbsp;&nbsp;General and administrative expenses | 476 |  | 422 |  | (13)% |
| &nbsp;&nbsp;Adjusted operating expenses | 746 |  | 679 |  | (10)% |
| &nbsp;&nbsp;Pretax adjusted operating earnings | $293 |  | $251 |  | 17% |
| &nbsp;&nbsp;Net pretax adjusted operating margin <sup>(1)</sup> | 40.4 | % | 39.0 | % |  |
|  | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **% Better/<br>(Worse)** |
| (in billions) | **2025** | **2025** | **2024** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;Assets Under Management and Advisement <sup>(2)</sup> | $721 |  | $681 |  | 6% |
| &nbsp;&nbsp;<u>Net Flows</u> |  |  |  |  |  |
| &nbsp;&nbsp;Global Retail net AUM flows, ex. legacy insurance partners | $3.1 |  | $5.7 |  | (46)% |
| &nbsp;&nbsp;Model delivery AUA flows <sup>(2)</sup> | 1.1 |  | 0.4 |  | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail net AUM flows and model delivery AUA flows <sup>(2)</sup> | 4.2 |  | 6.1 |  | (31)% |
| &nbsp;&nbsp;Global Institutional net AUM flows, ex. legacy insurance partners | (0.9) |  | (3.9) |  | 77% |
| &nbsp;&nbsp;Legacy insurance partners AUM flows | (1.4) |  | (0.9) |  | (42)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Net AUM and AUA flows <sup>(2)</sup> | $1.9 |  | $1.3 |  | 48% |
| <sup>(1)</sup> See reconciliation on page [13](#i8c3314b9e5b74c3e8c30d570f34eb800_37). |  |  |  |  |  |
| <sup>(2)</sup> 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. Q4'25 includes $1.0 billion of inflows from an institutional client.  | <sup>(2)</sup> 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. Q4'25 includes $1.0 billion of inflows from an institutional client.  | <sup>(2)</sup> 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. Q4'25 includes $1.0 billion of inflows from an institutional client.  | <sup>(2)</sup> 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. Q4'25 includes $1.0 billion of inflows from an institutional client.  | <sup>(2)</sup> 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. Q4'25 includes $1.0 billion of inflows from an institutional client.  | <sup>(2)</sup> 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. Q4'25 includes $1.0 billion of inflows from an institutional client.  |

---

**Asset Management** adjusted operating net revenues were $1.0 billion. Pretax adjusted operating earnings increased 17 percent to $293 million reflecting asset growth, strong performance fees and the positive impact from expense management actions. Net pretax adjusted operating margin improved 140 basis points to 40 percent. The underlying fee rate remained stable.

Adjusted operating expenses increased 10 percent. General and administrative expenses increased 13 percent driven by higher performance fee compensation and the impact of foreign exchange translation.

Assets under management and advisement increased 6 percent to $721 billion. Investment performance remained strong across all time periods, most notably with more than 80 percent of retail funds above median versus peers on an asset-weighted basis for 3- and 10-year time periods. In addition, there were 103 funds globally earning four- or five-star ratings from Morningstar.

Net inflows were $1.9 billion, reflecting an improvement in institutional and model delivery flows.

• Retail and model delivery net inflows were $4.2 billion. Results reflected inflows in model delivery and reinvested dividends.

• Institutional net outflows improved to $0.9 billion, driven by higher gross sales globally and lower redemptions in North America.

• Outflows related to legacy insurance partners were $1.4 billion.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** |
| | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **% Better/<br>(Worse)** |
| (in millions, unaudited) | **2025** | **2025** | **2024** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;Adjusted operating net revenues | $| 991 | $| 960 | 3% |
| &nbsp;&nbsp;Adjusted operating expenses | 791 | 791 | 747 | 747 | (6)% |
| &nbsp;&nbsp;Pretax adjusted operating earnings | $| 200 | $| 213 | (6)% |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

**Retirement & Protection Solutions** pretax adjusted operating earnings were $200 million. Results in the quarter were impacted by the timing of certain general and administrative expenses, as well as higher life claim expenses than the prior year period.

Retirement & Protection Solutions sales increased 6 percent to $1.5 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.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Corporate & Other Segment Adjusted Operating Results** | **Corporate & Other Segment Adjusted Operating Results** | **Corporate & Other Segment Adjusted Operating Results** | **Corporate & Other Segment Adjusted Operating Results** | **Corporate & Other Segment Adjusted Operating Results** | **Corporate & Other Segment Adjusted Operating Results** |
| | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **% Better/<br>(Worse)** |
| (in millions, unaudited) | **2025** | **2025** | **2024** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;Corporate & Other | $| (80) | $| (106) | 25% |
| &nbsp;&nbsp;Closed Blocks <sup>(1)</sup> | (4) | (4) | 14 | 14 | NM |
| &nbsp;&nbsp;Pretax adjusted operating earnings/(loss) | $| (84) | $| (92) | 9% |
| &nbsp;&nbsp;Long Term Care | $| 3 | $| 21 | (86)% |
| &nbsp;&nbsp;Fixed Annuities | (7) | (7) | (7) | (7) | —% |
| &nbsp;&nbsp;Pretax adjusted operating earnings/(loss) | $| (4) | $| 14 | NM |
| <sup>(1)</sup> Long Term Care and Fixed Annuities.  | <sup>(1)</sup> Long Term Care and Fixed Annuities.  | <sup>(1)</sup> Long Term Care and Fixed Annuities.  | <sup>(1)</sup> Long Term Care and Fixed Annuities.  | <sup>(1)</sup> Long Term Care and Fixed Annuities.  | <sup>(1)</sup> Long Term Care and Fixed Annuities.  |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

**Corporate & Other, excluding Closed Blocks** pretax adjusted operating loss was $80 million.

**Long Term Care** pretax adjusted operating earnings were $3 million in the quarter and $28 million for the full year excluding unlocking. Results in the prior year quarter reflected higher closed claims and recognition of new premium rate increases.

**Fixed Annuities** pretax adjusted operating loss was $7 million.

**Taxes**

The operating effective tax rate was 21.9 percent for the fourth quarter and 20.9 percent for the full year.

**Contacts**

Investor Relations: Media Relations:

Stephanie M. Rabe Paul W. Johnson

Ameriprise Financial Ameriprise Financial

(612) 671-4085 (612) 671-0625

stephanie.m.rabe@ampf.com paul.w.johnson@ampf.com

------

**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 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, 2024 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-K for the period ended December 31, 2025.

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**

TIME magazine partnered with Statista to recognize America's Most Iconic Companies, chosen based on an independent survey of roughly 10,000 participants. Ameriprise Financial, Inc. was the highest ranked diversified financial services firm in the ranking and its overall ranking was #48 out of 250 companies across all industry sectors. Eligible companies (founded and headquartered in the United States, with a market presence of at least 10 years.) were evaluated from July to August 2025, across several key categories: Recognition and familiarity, cultural significance and impact, emotional connection, resilience, Americanness, presence and legacy. Ameriprise did not pay a fee to be evaluated, but did pay a fee to publicly cite the results. Find more information at https://time.com/7339929/americas-most-iconic-companies/.

The Wall Street Journal partnered with the Drucker Institute to recognize the 250 Best-Managed Companies in the U.S., which is based on a holistic measure of corporate effectiveness developed by the Drucker Institute. Nearly 700 U.S. companies were evaluated on 34 indicators across five dimensions of corporate performance: Customer satisfaction; employee engagement and development; innovation; social responsibility; and financial strength. All data collected was the most current available as of June 30, 2025. Ameriprise did not pay a fee to be evaluated, but did pay a fee to publicly cite the results. Used with permission.©2025 Dow Jones & Company, Inc. Find more information at https://drucker.institute/annual-data/methodology-2025-2/.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Consolidated GAAP Results** | **Consolidated GAAP Results** | **Consolidated GAAP Results** | **Consolidated GAAP Results** | **Consolidated GAAP Results** | **Consolidated GAAP Results** |
| (in millions, except per share amounts, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Revenues** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management and financial advice fees | 3096 | 2715 | 14% | 2811 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution fees | 554 | 536 | 3% | 539 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | 891 | 892 | —% | 920 | (3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums, policy and contract charges | 373 | 379 | (2)% | 493 | (24)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues | 133 | 127 | 5% | 130 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues | 5047 | 4649 | 9% | 4893 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking and deposit interest expense | 87 | 148 | 41% | 102 | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total net revenues** | 4960 | 4501 | 10% | 4791 | 4% |
| &nbsp;&nbsp;**Expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution expenses | 1819 | 1616 | (13)% | 1714 | (6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest credited to fixed accounts | 109 | 181 | 40% | 141 | 23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Benefits, claims, losses and settlement expenses | 322 | 243 | (33)% | 343 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement (gains) losses of future policy benefit reserves | 1 | (10) | NM | 22 | 95% |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of market risk benefits | 215 | (30) | NM | 302 | 29% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred acquisition costs | 61 | 61 | —% | 60 | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense | 80 | 77 | (4)% | 84 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 1061 | 1011 | (5)% | 951 | (12)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total expenses** | 3668 | 3149 | (16)% | 3617 | (1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Pretax income | 1292 | 1352 | (4)% | 1174 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax provision | 284 | 281 | (1)% | 262 | (8)% |
| &nbsp;&nbsp;**Net income** | 1008 | 1071 | (6)% | 912 | 11% |
| &nbsp;&nbsp;**Earnings per share** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic earnings per share | 10.63 | 10.80 |  | 9.47 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings per diluted share | 10.47 | 10.58 |  | 9.33 |  |
| &nbsp;&nbsp;**Weighted average common shares outstanding** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 94.8 | 99.2 |  | 96.3 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 96.3 | 101.2 |  | 97.8 |  |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Consolidated Highlights and Capital Summary** | **Consolidated Highlights and Capital Summary** | **Consolidated Highlights and Capital Summary** | **Consolidated Highlights and Capital Summary** | **Consolidated Highlights and Capital Summary** | **Consolidated Highlights and Capital Summary** |
| (in millions unless otherwise noted, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Assets Under Management, Administration and Advisement** | &nbsp;&nbsp;**Assets Under Management, Administration and Advisement** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advice & Wealth Management AUM | 666437 | 570064 | 17% | 646382 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset Management AUM | 678105 | 644913 | 5% | 674720 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate AUM | 906 | 568 | 60% | 774 | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;Eliminations | (47630) | (44769) | (6)% | (47812) | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Assets Under Management** | 1297818 | 1170776 | 11% | 1274064 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Assets Under Administration** | 355503 | 317160 | 12% | 347923 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Assets Under Advisement (net of eliminations)** <sup>(1)</sup> | 40830 | 34017 | 20% | 37522 | 9% |
| &nbsp;&nbsp;**Total Assets Under Management, Administration and Advisement** | 1694151 | 1521953 | 11% | 1659509 | 2% |
| &nbsp;&nbsp;**S&P 500** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Daily average | 6776 | 5911 | 15% | 6427 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Period end | 6846 | 5882 | 16% | 6688 | 2% |
| &nbsp;&nbsp;**Weighted Equity Index (WEI)** <sup>(2)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Daily average | 4265 | 3718 | 15% | 4055 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Period end | 4317 | 3676 | 17% | 4210 | 3% |
| &nbsp;&nbsp;**Common shares** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | 93.1 | 97.2 | (4)% | 94.4 | (1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases | (1.8) | (1.1) | (64)% | (1.4) | (29)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Issuances |  | 0.2 | NM | 0.2 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | (0.1) | NM | (0.1) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total common shares outstanding** | 91.3 | 96.2 | (5)% | 93.1 | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted stock units | 2.4 | 2.5 | (4)% | 2.4 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total basic common shares outstanding** | 93.7 | 98.7 | (5)% | 95.5 | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total potentially dilutive shares | 1.5 | 1.9 | (21)% | 1.5 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total diluted shares** | 95.2 | 100.6 | (5)% | 97.0 | (2)% |
| &nbsp;&nbsp;**Capital Returned to Shareholders** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends paid | 153 | 149 | 3% | 155 | (1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock share repurchases | 897 | 619 | 45% | 687 | 31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Capital Returned to Shareholders** | 1050 | 768 | 37% | 842 | 25% |
| <sup>(1)</sup> Assets reported on a one quarter lag. | <sup>(1)</sup> Assets reported on a one quarter lag. | <sup>(1)</sup> Assets reported on a one quarter lag. | <sup>(1)</sup> Assets reported on a one quarter lag. | <sup>(1)</sup> Assets reported on a one quarter lag. | <sup>(1)</sup> Assets reported on a one quarter lag. |
| <sup>(2)</sup> 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. | <sup>(2)</sup> 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. | <sup>(2)</sup> 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. | <sup>(2)</sup> 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. | <sup>(2)</sup> 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. | <sup>(2)</sup> 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. |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** | **Advice & Wealth Management Segment Adjusted Operating Results** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Revenues** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management and financial advice fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Advisory fees | $1785 | $1519 | 18% | $1664 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial planning fees | 146 | 137 | 7% | 120 | 22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction and other fees | 98 | 97 | 1% | 102 | (4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total management and financial advice fees | 2029 | 1753 | 16% | 1886 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution fees: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | 237 | 217 | 9% | 227 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and annuity | 275 | 264 | 4% | 268 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Off-Balance sheet brokerage cash | 20 | 32 | (38)% | 21 | (5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other products | 130 | 120 | 8% | 126 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total distribution fees | 662 | 633 | 5% | 642 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | 475 | 521 | (9)% | 485 | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues | 83 | 75 | 11% | 79 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | 3249 | 2982 | 9% | 3092 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking and deposit interest expense | 87 | 148 | 41% | 102 | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating total net revenues** | 3162 | 2834 | 12% | 2990 | 6% |
| &nbsp;&nbsp;**Expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution expenses | 1757 | 1563 | (12)% | 1656 | (6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense | 15 | 10 | (50)% | 14 | (7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 464 | 438 | (6)% | 439 | (6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating expenses** | 2236 | 2011 | (11)% | 2109 | (6)% |
| &nbsp;&nbsp;**Pretax adjusted operating earnings** | $926 | $823 | 13% | $881 | 5% |
| &nbsp;&nbsp;**Pretax adjusted operating margin** | 29.3% | 29.0% |  | 29.5% |  |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Advice & Wealth Management Segment Operating Metrics** | **Advice & Wealth Management Segment Operating Metrics** | **Advice & Wealth Management Segment Operating Metrics** | **Advice & Wealth Management Segment Operating Metrics** | **Advice & Wealth Management Segment Operating Metrics** | **Advice & Wealth Management Segment Operating Metrics** | **Advice & Wealth Management Segment Operating Metrics** | **Advice & Wealth Management Segment Operating Metrics** | **Advice & Wealth Management Segment Operating Metrics** |
| (in millions unless otherwise noted, unaudited) | **4 Qtr 2025** | **4 Qtr 2025** | **4 Qtr 2024** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**AWM Total Client Assets** | $| 1165367 | $| 1028943 | 13% | $| 1138392 | 2% |
| &nbsp;&nbsp;**Total Client Flows** | $| 13335 | $| 11261 | 18% | $| 3442 | NM |
| &nbsp;&nbsp;**Total Wrap Accounts** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning assets | $| 650302 | $| 569054 | 14% | $| 615189 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net flows | 12052 | 12052 | 11073 | 11073 | 9% | 4769 | 4769 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Market appreciation (depreciation) and other | 8007 | 8007 | (6246) | (6246) | NM | 30344 | 30344 | (74)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total wrap ending assets** | $| 670361 | $| 573881 | 17% | $| 650302 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Advisory wrap account assets ending balance <sup>(1)</sup> | $| 664427 | $| 568348 | 17% | $| 644436 | 3% |
| &nbsp;&nbsp;**AWM Cash Balances** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**On-balance sheet (Net Investment Income)** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On-balance sheet - bank | $| 23663 | $| 22307 | 6% | $| 22593 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On-balance sheet - certificate | 8155 | 8155 | 11213 | 11213 | (27)% | 8936 | 8936 | (9)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On-balance sheet - broker dealer | 1948 | 1948 | 2334 | 2334 | (17)% | 2119 | 2119 | (8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total on-balance sheet** | 33766 | 33766 | 35854 | 35854 | (6)% | 33648 | 33648 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Off-balance sheet (Distribution Fees)** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Off-balance sheet - broker dealer | 5147 | 5147 | 5793 | 5793 | (11)% | 3216 | 3216 | 60% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total AWM Cash Balances** | $| 38913 | $| 41647 | (7)% | $| 36864 | 6% |
| &nbsp;&nbsp;**Bank - Net Investment Income** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average interest-bearing assets | $| 24663 | $| 23789 | 4% | $| 23986 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross fee yield <sup>(2)</sup> | 4.61 | 4.61% | 4.64 | 4.64% |  | 4.67 | 4.67% |  |
| &nbsp;&nbsp;**Certificates - Net Investment Income** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average interest-bearing assets | $| 9087 | $| 12417 | (27)% | $| 10038 | (9)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross fee yield <sup>(2)</sup> | 4.83 | 4.83% | 5.31 | 5.31% |  | 5.00 | 5.00% |  |
| &nbsp;&nbsp;**Other - Net Investment Income** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average interest-bearing assets | $| 5371 | $| 5348 | —% | $| 5176 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross fee yield <sup>(2)</sup> | 5.72 | 5.72% | 5.74 | 5.74% |  | 5.90 | 5.90% |  |
| &nbsp;&nbsp;**Off-balance sheet - broker dealer - Distribution Fees** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average balances | $| 3580 | $| 4240 | (16)% | $| 3297 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net fee yield | 2.28 | 2.28% | 3.02 | 3.02% |  | 2.51 | 2.51% |  |
| <sup>(1)</sup> 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. | <sup>(1)</sup> 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. | <sup>(1)</sup> 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. | <sup>(1)</sup> 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. | <sup>(1)</sup> 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. | <sup>(1)</sup> 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. | <sup>(1)</sup> 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. | <sup>(1)</sup> 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. | <sup>(1)</sup> 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. |
| <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. | <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. | <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. | <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. | <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. | <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. | <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. | <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. | <sup>(2)</sup> Gross fee yield is calculated using amortized cost of investments. Prior to Q1 2025, it was calculated using fair value of investments. Prior periods have been restated to conform with current presentation. |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** | **Asset Management Segment Adjusted Operating Results** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2025** | **4 Qtr 2024** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Revenues** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management and financial advice fees: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset management fees: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retail | $| 568 | $| 540 | 5% | $| 557 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional | 266 | 266 | 194 | 194 | 37% | 140 | 140 | 90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Model delivery | 26 | 26 | 22 | 22 | 18% | 24 | 24 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transaction and other fees | 54 | 54 | 53 | 53 | 2% | 52 | 52 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revenue from other sources <sup>(1)</sup> | 3 | 3 | 2 | 2 | 50% | 2 | 2 | 50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total management and financial advice fees | 917 | 917 | 811 | 811 | 13% | 775 | 775 | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution fees: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | 61 | 61 | 59 | 59 | 3% | 58 | 58 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance and annuity | 40 | 40 | 40 | 40 | —% | 40 | 40 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total distribution fees | 101 | 101 | 99 | 99 | 2% | 98 | 98 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | 15 | 15 | 15 | 15 | —% | 26 | 26 | (42)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues | 6 | 6 | 5 | 5 | 20% | 7 | 7 | (14)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | 1039 | 1039 | 930 | 930 | 12% | 906 | 906 | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking and deposit interest expense |  |  |  |  | —% |  |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating total net revenues** | 1039 | 1039 | 930 | 930 | 12% | 906 | 906 | 15% |
| &nbsp;&nbsp;**Expenses** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution expenses | 265 | 265 | 253 | 253 | (5)% | 254 | 254 | (4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred acquisition costs | 2 | 2 | 2 | 2 | —% | 2 | 2 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense | 3 | 3 | 2 | 2 | (50)% | 3 | 3 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 476 | 476 | 422 | 422 | (13)% | 387 | 387 | (23)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating expenses** | 746 | 746 | 679 | 679 | (10)% | 646 | 646 | (15)% |
| &nbsp;&nbsp;**Pretax adjusted operating earnings** | $| 293 | $| 251 | 17% | $| 260 | 13% |
| &nbsp;&nbsp;**Net Pretax Adjusted Operating Margin Reconciliation** | &nbsp;&nbsp;**Net Pretax Adjusted Operating Margin Reconciliation** | &nbsp;&nbsp;**Net Pretax Adjusted Operating Margin Reconciliation** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted operating total net revenues | $| 1039 | $| 930 | 12% | $| 906 | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution pass through revenues | (208) | (208) | (201) | (201) | (3)% | (202) | (202) | (3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Subadvisory and other pass through revenues | (106) | (106) | (104) | (104) | (2)% | (112) | (112) | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net adjusted operating revenues | 725 | 725 | 625 | 625 | 16% | 592 | 592 | 22% |
| &nbsp;&nbsp;&nbsp;&nbsp;Pretax adjusted operating earnings | $| 293 | $| 251 | 17% | $| 260 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted operating net investment income | (15) | (15) | (15) | (15) | —% | (26) | (26) | 42% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 15 | 15 | 8 | 8 | 88% | 15 | 15 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net adjusted operating earnings | $| 293 | $| 244 | 20% | $| 249 | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Pretax adjusted operating margin | 28.2 | 28.2% | 27.0 | 27.0% |  | 28.7 | 28.7% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net pretax adjusted operating margin <sup>(2)</sup> | 40.4 | 40.4% | 39.0 | 39.0% |  | 42.1 | 42.1% |  |
| &nbsp;&nbsp;**Total Performance fees** <sup>(3)</sup> |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Performance fees | $| 120 | $| 51 | NM | $| 2 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense related to performance fees | 77 | 77 | 32 | 32 | NM |  |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net performance fees | $| 43 | $| 19 | NM | $| 2 | NM |
| <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. | <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. | <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. | <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. | <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. | <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. | <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. | <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. | <sup>(1)</sup> Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards. |
| <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  | <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  | <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  | <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  | <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  | <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  | <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  | <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  | <sup>(2)</sup> Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.  |
| <sup>(3)</sup> Performance fees do not include CLO incentive fees. | <sup>(3)</sup> Performance fees do not include CLO incentive fees. | <sup>(3)</sup> Performance fees do not include CLO incentive fees. | <sup>(3)</sup> Performance fees do not include CLO incentive fees. | <sup>(3)</sup> Performance fees do not include CLO incentive fees. | <sup>(3)</sup> Performance fees do not include CLO incentive fees. | <sup>(3)</sup> Performance fees do not include CLO incentive fees. | <sup>(3)</sup> Performance fees do not include CLO incentive fees. | <sup>(3)</sup> Performance fees do not include CLO incentive fees. |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Managed Assets Rollforward** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Global Retail Funds** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning assets | 378306 | 362419 | 4% | 361696 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inflows | 13585 | 15227 | (11)% | 14762 | (8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outflows | (19733) | (17807) | (11)% | (17593) | (12)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net VP/VIT fund flows | (1824) | (1730) | (5)% | (1760) | (4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net new flows | (7972) | (4310) | (85)% | (4591) | (74)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvested dividends | 10710 | 9956 | 8% | 1684 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows | 2738 | 5646 | (52)% | (2907) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions | (11770) | (11086) | (6)% | (1808) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market appreciation (depreciation) and other | 8608 | 436 | NM | 22760 | (62)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation <sup>(1)</sup> | 141 | (4678) | NM | (1435) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total ending assets** | 378023 | 352737 | 7% | 378306 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;% of total retail assets sub-advised  | 13.2% | 15.8% |  | 13.2% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Global Institutional** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning assets | 296414 | 309691 | (4)% | 292528 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inflows <sup>(2)</sup> | 12088 | 7992 | 51% | 9156 | 32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outflows <sup>(2)</sup> | (13950) | (12727) | (10)% | (11421) | (22)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows | (1862) | (4735) | 61% | (2265) | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Market appreciation (depreciation) and other <sup>(3)</sup> | 5237 | (3145) | NM | 8975 | (42)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation <sup>(1)</sup> | 293 | (9635) | NM | (2824) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total ending assets** | 300082 | 292176 | 3% | 296414 | 1% |
| &nbsp;&nbsp;**Total managed assets** | 678105 | 644913 | 5% | 674720 | 1% |
| &nbsp;&nbsp;**Total Assets Under Advisement** <sup>(4)</sup> | 42925 | 35616 | 21% | 39443 | 9% |
| &nbsp;&nbsp;**Total Assets Under Management & Advisement** | 721030 | 680529 | 6% | 714163 | 1% |
| &nbsp;&nbsp;**Total AUM net flows** | 876 | 911 | (4)% | (5172) | NM |
| &nbsp;&nbsp;**Model delivery AUA flows** <sup>(5)</sup> | 1085 | 412 | NM | 1731 | (37)% |
| &nbsp;&nbsp;**Total AUM and AUA Flows** <sup>(5)</sup> | 1961 | 1323 | 48% | (3441) | NM |
| &nbsp;&nbsp;**Legacy insurance partners flows** | (1351) | (950) | (42)% | (903) | (50)% |
| <sup>(1)</sup> Amounts represent local currency to U.S. dollar translation for reporting purposes. | <sup>(1)</sup> Amounts represent local currency to U.S. dollar translation for reporting purposes. | <sup>(1)</sup> Amounts represent local currency to U.S. dollar translation for reporting purposes. | <sup>(1)</sup> Amounts represent local currency to U.S. dollar translation for reporting purposes. | <sup>(1)</sup> Amounts represent local currency to U.S. dollar translation for reporting purposes. | <sup>(1)</sup> Amounts represent local currency to U.S. dollar translation for reporting purposes. |
| <sup>(2)</sup> Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB. | <sup>(2)</sup> Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB. | <sup>(2)</sup> Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB. | <sup>(2)</sup> Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB. | <sup>(2)</sup> Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB. | <sup>(2)</sup> Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB. |
| <sup>(3)</sup> 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. | <sup>(3)</sup> 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. | <sup>(3)</sup> 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. | <sup>(3)</sup> 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. | <sup>(3)</sup> 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. | <sup>(3)</sup> 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. |
| <sup>(4)</sup> Assets are presented on a one-quarter lag. | <sup>(4)</sup> Assets are presented on a one-quarter lag. | <sup>(4)</sup> Assets are presented on a one-quarter lag. | <sup>(4)</sup> Assets are presented on a one-quarter lag. | <sup>(4)</sup> Assets are presented on a one-quarter lag. | <sup>(4)</sup> Assets are presented on a one-quarter lag. |
| <sup>(5)</sup> 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. | <sup>(5)</sup> 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. | <sup>(5)</sup> 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. | <sup>(5)</sup> 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. | <sup>(5)</sup> 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. | <sup>(5)</sup> 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% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** | **Asset Management Segment Operating Metrics** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Total Managed Assets by Type** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity | $370489 | $342963 | 8% | $368610 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed income | 234201 | 231551 | 1% | 234682 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 23358 | 20305 | 15% | 21545 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alternative | 29659 | 30872 | (4)% | 29281 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hybrid and other | 20398 | 19222 | 6% | 20602 | (1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total managed assets by type** | $678105 | $644913 | 5% | $674720 | 1% |
| &nbsp;&nbsp;**Average Managed Assets by Type** <sup>(1)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity | $370584 | $349847 | 6% | $358062 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed income | 234022 | 238137 | (2)% | 232013 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 21567 | 20535 | 5% | 21922 | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alternative | 29330 | 31706 | (7)% | 28644 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Hybrid and other | 20565 | 19501 | 5% | 20106 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total average managed assets by type** | $676068 | $659726 | 2% | $660747 | 2% |
| <sup>(1)</sup> Average ending balances are calculated using the average of the prior period's ending balance and all months in the current period. | <sup>(1)</sup> Average ending balances are calculated using the average of the prior period's ending balance and all months in the current period. | <sup>(1)</sup> Average ending balances are calculated using the average of the prior period's ending balance and all months in the current period. | <sup>(1)</sup> Average ending balances are calculated using the average of the prior period's ending balance and all months in the current period. | <sup>(1)</sup> Average ending balances are calculated using the average of the prior period's ending balance and all months in the current period. | <sup>(1)</sup> 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.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Asset Management Segment Performance Metrics** | **Asset Management Segment Performance Metrics** | **Asset Management Segment Performance Metrics** | **Asset Management Segment Performance Metrics** | **Asset Management Segment Performance Metrics** |
| | **4 Qtr 2025** | **4 Qtr 2025** | **4 Qtr 2025** | **4 Qtr 2025** |
| &nbsp;&nbsp;**Retail Fund Rankings in Top 2 Quartiles or Above Index Benchmark - Asset Weighted** | **1 year** | **3 year** | **5 year** | **10 year** |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity | 70% | 75% | 76% | 81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed Income | 69% | 89% | 70% | 84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset Allocation | 35% | 88% | 69% | 88% |
| &nbsp;&nbsp;**4- or 5-star Morningstar rated funds** | **Overall** | **3 year** | **5 year** | **10 year** |
| &nbsp;&nbsp;&nbsp;&nbsp;Number of Rated Funds | 103 | 73 | 75 | 83 |
| &nbsp;&nbsp;&nbsp;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. <br>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. <br>Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income. <br>Morningstar as of 12/31/25. Columbia funds are available for purchase by U.S. customers. Out of 89 Columbia funds rated (based on primary share class), 47 received a 4-star Overall Rating. Out of 128 Threadneedle funds rated (based on highest-rated share class), 12 received a 5-star Overall Rating and 44 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. <br>© 2025 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.  | &nbsp;&nbsp;&nbsp;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. <br>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. <br>Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income. <br>Morningstar as of 12/31/25. Columbia funds are available for purchase by U.S. customers. Out of 89 Columbia funds rated (based on primary share class), 47 received a 4-star Overall Rating. Out of 128 Threadneedle funds rated (based on highest-rated share class), 12 received a 5-star Overall Rating and 44 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. <br>© 2025 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.  | &nbsp;&nbsp;&nbsp;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. <br>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. <br>Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income. <br>Morningstar as of 12/31/25. Columbia funds are available for purchase by U.S. customers. Out of 89 Columbia funds rated (based on primary share class), 47 received a 4-star Overall Rating. Out of 128 Threadneedle funds rated (based on highest-rated share class), 12 received a 5-star Overall Rating and 44 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. <br>© 2025 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.  | &nbsp;&nbsp;&nbsp;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. <br>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. <br>Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income. <br>Morningstar as of 12/31/25. Columbia funds are available for purchase by U.S. customers. Out of 89 Columbia funds rated (based on primary share class), 47 received a 4-star Overall Rating. Out of 128 Threadneedle funds rated (based on highest-rated share class), 12 received a 5-star Overall Rating and 44 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. <br>© 2025 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.  | &nbsp;&nbsp;&nbsp;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. <br>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. <br>Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income. <br>Morningstar as of 12/31/25. Columbia funds are available for purchase by U.S. customers. Out of 89 Columbia funds rated (based on primary share class), 47 received a 4-star Overall Rating. Out of 128 Threadneedle funds rated (based on highest-rated share class), 12 received a 5-star Overall Rating and 44 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. <br>© 2025 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.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** | **Retirement & Protection Solutions Segment Adjusted Operating Results** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Revenues** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management and financial advice fees | $194 | $194 | —% | $192 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution fees | 107 | 108 | (1)% | 105 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | 332 | 290 | 14% | 326 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums, policy and contract charges | 357 | 367 | (3)% | 479 | (25)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues | 1 | 1 | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | 991 | 960 | 3% | 1102 | (10)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking and deposit interest expense |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating total net revenues** | 991 | 960 | 3% | 1102 | (10)% |
| &nbsp;&nbsp;**Expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution expenses | 137 | 131 | (5)% | 134 | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest credited to fixed accounts | 93 | 91 | (2)% | 95 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Benefits, claims, losses and settlement expenses | 237 | 224 | (6)% | 256 | 7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement (gains) losses of future policy benefit reserves | (5) | (4) | 25% | (9) | (44)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of market risk benefits | 173 | 156 | (11)% | 257 | 33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred acquisition costs | 58 | 56 | (4)% | 56 | (4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense | 10 | 10 | —% | 11 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 88 | 83 | (6)% | 85 | (4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating expenses** | 791 | 747 | (6)% | 885 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Pretax adjusted operating earnings** | $200 | $213 | (6)% | $217 | (8)% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Retirement & Protection Solutions Segment Operating Metrics** | **Retirement & Protection Solutions Segment Operating Metrics** | **Retirement & Protection Solutions Segment Operating Metrics** | **Retirement & Protection Solutions Segment Operating Metrics** | **Retirement & Protection Solutions Segment Operating Metrics** | **Retirement & Protection Solutions Segment Operating Metrics** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Variable Annuities Rollforwards** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | 90950 | 87653 | 4% | 87840 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 1305 | 1237 | 5% | 1256 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Withdrawals and terminations | (2568) | (2315) | (11)% | (2387) | (8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net flows | (1263) | (1078) | (17)% | (1131) | (12)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment performance and interest credited | 1609 | (828) | NM | 4241 | (62)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total ending balance - contract accumulation values** | 91296 | 85747 | 6% | 90950 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Variable annuities fixed sub-accounts** | 3391 | 3727 | (9)% | 3493 | (3)% |
| &nbsp;&nbsp;**Life Insurance In Force** | 197479 | 198123 | —% | 197593 | —% |
| &nbsp;&nbsp;**Net Amount at Risk (Life)** | 37167 | 38025 | (2)% | 37241 | —% |
| &nbsp;&nbsp;**Net Policyholder Reserves** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;VUL/UL | 17377 | 15951 | 9% | 17144 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Term and whole life | 166 | 169 | (2)% | 168 | (1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Disability insurance | 446 | 472 | (6)% | 457 | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other insurance | 481 | 505 | (5)% | 488 | (1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total net policyholder reserves** | 18470 | 17097 | 8% | 18257 | 1% |
| &nbsp;&nbsp;**DAC Ending Balances** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Variable Annuities DAC | 1639 | 1677 | (2)% | 1646 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Life and Health DAC | 945 | 955 | (1)% | 946 | —% |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Corporate Excluding Long Term Care and Fixed Annuities Adjusted Operating Income Statements** |  |  |  |  |  |
| &nbsp;&nbsp;**Revenues** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management and financial advice fees | $| $| —% | $| —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution fees |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | (7) | (9) | 22% | (7) | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums, policy and contract charges |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues | 4 | 3 | 33% | 2 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | (3) | (6) | 50% | (5) | 40% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking and deposit interest expense | 8 | 8 | —% | 9 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating total net revenues** | (11) | (14) | 21% | (14) | 21% |
| &nbsp;&nbsp;**Expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution expenses |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest credited to fixed accounts |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Benefits, claims, losses and settlement expenses |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement (gains) losses of future policy benefit reserves |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of market risk benefits |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred acquisition costs |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense | 21 | 23 | 9% | 23 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 48 | 69 | 30% | 50 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating expenses** | 69 | 92 | 25% | 73 | 5% |
| &nbsp;&nbsp;**Pretax adjusted operating earnings (loss)** | $| $| 25% | $| 8% |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Corporate Segment Adjusted Operating Results and Metrics** | **Corporate Segment Adjusted Operating Results and Metrics** | **Corporate Segment Adjusted Operating Results and Metrics** | **Corporate Segment Adjusted Operating Results and Metrics** | **Corporate Segment Adjusted Operating Results and Metrics** | **Corporate Segment Adjusted Operating Results and Metrics** | **Corporate Segment Adjusted Operating Results and Metrics** | **Corporate Segment Adjusted Operating Results and Metrics** | **Corporate Segment Adjusted Operating Results and Metrics** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2025** | **4 Qtr 2024** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Long Term Care Adjusted Operating Income Statements** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Revenues** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management and financial advice fees | $|  | $|  | —% | $|  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution fees |  |  |  |  | —% |  |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | 44 | 44 | 46 | 46 | (4)% | 47 | 47 | (6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums, policy and contract charges | 23 | 23 | 24 | 24 | (4)% | 22 | 22 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues |  |  |  |  | —% |  |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | 67 | 67 | 70 | 70 | (4)% | 69 | 69 | (3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking and deposit interest expense |  |  | (1) | (1) | NM |  |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating total net revenues** | 67 | 67 | 71 | 71 | (6)% | 69 | 69 | (3)% |
| &nbsp;&nbsp;**Expenses** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution expenses | (4) | (4) | (3) | (3) | 33% | (2) | (2) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest credited to fixed accounts |  |  |  |  | —% |  |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Benefits, claims, losses and settlement expenses | 53 | 53 | 52 | 52 | (2)% | 53 | 53 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement (gains) losses of future policy benefit reserves | 6 | 6 | (6) | (6) | NM | 31 | 31 | 81% |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of market risk benefits |  |  |  |  | —% |  |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred acquisition costs |  |  |  |  | —% |  |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense | 2 | 2 | 1 | 1 | NM | 4 | 4 | 50% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 7 | 7 | 6 | 6 | (17)% | 5 | 5 | (40)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating expenses** | 64 | 64 | 50 | 50 | (28)% | 91 | 91 | 30% |
| &nbsp;&nbsp;**Pretax adjusted operating earnings (loss)** | $| 3 | $| 21 | (86)% | $| (22) | NM |
| &nbsp;&nbsp;**Long Term Care Policyholder Reserves, net of reinsurance** | $| 2632 | $| 2539 | 4% | $| 2643 | —% |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** | **Corporate Segment Adjusted Operating Results** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Fixed Annuities Adjusted Operating Income Statements** |  |  |  |  |  |
| &nbsp;&nbsp;**Revenues** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management and financial advice fees | $— | $— | —% | $— | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution fees |  | 1 | NM |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | 8 | 8 | —% | 7 | 14% |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums, policy and contract charges |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues | 39 | 42 | (7)% | 42 | (7)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | 47 | 51 | (8)% | 49 | (4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking and deposit interest expense |  | 1 | NM |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating total net revenues** | 47 | 50 | (6)% | 49 | (4)% |
| &nbsp;&nbsp;**Expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution expenses |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest credited to fixed accounts | 49 | 52 | 6% | 51 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Benefits, claims, losses and settlement expenses |  | (1) | NM |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement (gains) losses of future policy benefit reserves |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of market risk benefits |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred acquisition costs | 1 | 3 | 67% | 2 | 50% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense | 1 | 1 | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | 3 | 2 | (50)% | 3 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating expenses** | 54 | 57 | 5% | 56 | 4% |
| &nbsp;&nbsp;**Pretax adjusted operating earnings (loss)** | $(7) | $(7) | —% | $(7) | —% |
| NM Not Meaningful - variance equal to or greater than 100% |  |  |  |  |  |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Eliminations** <sup>(1)</sup> **Adjusted Operating Results** | **Eliminations** <sup>(1)</sup> **Adjusted Operating Results** | **Eliminations** <sup>(1)</sup> **Adjusted Operating Results** | **Eliminations** <sup>(1)</sup> **Adjusted Operating Results** | **Eliminations** <sup>(1)</sup> **Adjusted Operating Results** | **Eliminations** <sup>(1)</sup> **Adjusted Operating Results** |
| (in millions, unaudited) | **4 Qtr 2025** | **4 Qtr 2024** | **% Better/<br>(Worse)** | **3 Qtr 2025** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;**Revenues** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management and financial advice fees | $| $| (2)% | $| (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution fees | (316) | (305) | (4)% | (306) | (3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net investment income | (20) | (21) | 5% | (23) | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;Premiums, policy and contract charges | (9) | (8) | (13)% | (8) | (13)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other revenues |  | (1) | NM |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total revenues** | (387) | (376) | (3)% | (378) | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Banking and deposit interest expense | (8) | (8) | —% | (9) | (11)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating total net revenues** | (379) | (368) | (3)% | (369) | (3)% |
| &nbsp;&nbsp;**Expenses** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Distribution expenses | (337) | (328) | 3% | (327) | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest credited to fixed accounts |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Benefits, claims, losses and settlement expenses | (4) | (8) | (50)% | (8) | (50)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Remeasurement (gains) losses of future policy benefit reserves |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of market risk benefits |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of deferred acquisition costs |  |  | —% |  | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and debt expense | (12) | (12) | —% | (15) | (20)% |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative expense | (26) | (20) | 30% | (19) | 37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Adjusted operating expenses** | (379) | (368) | 3% | (369) | 3% |
| &nbsp;&nbsp;**Pretax adjusted operating earnings (loss)** | $| $| —% | $| —% |
| <sup>(1)</sup> The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. | <sup>(1)</sup> The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. | <sup>(1)</sup> The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. | <sup>(1)</sup> The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. | <sup>(1)</sup> The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. | <sup>(1)</sup> The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses. |
| NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% | NM Not Meaningful - variance equal to or greater than 100% |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Capital Information** | **Capital Information** | **Capital Information** | **Capital Information** |
| (in millions, unaudited) | **December 31,<br>2025** | **December 31,<br>2024** | **September 30,<br>2025** |
| &nbsp;&nbsp;**Long-term Debt Summary** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior notes | $3100 | $2850 | $3100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance lease liabilities |  | 9 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other <sup>(1)</sup> | (23) | (17) | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Ameriprise Financial long-term debt** | 3077 | 2842 | 3077 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-recourse debt of consolidated investment entities | 2585 | 2429 | 2607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total long-term debt** | $5662 | $5271 | $5684 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Ameriprise Financial long-term debt | $3077 | $2842 | $3077 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance lease liabilities |  | (9) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other <sup>(1)</sup> | 23 | 17 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Ameriprise Financial long-term debt excluding finance lease liabilities and other** | $3100 | $2850 | $3100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total equity <sup>(2)</sup> | $6549 | $5228 | $6455 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity of consolidated investment entities | (1) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total equity excluding CIEs** | $6548 | $5227 | $6454 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Ameriprise Financial capital | $9626 | $8070 | $9532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs | $9648 | $8077 | $9554 |
| &nbsp;&nbsp;**Debt to capital** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Ameriprise Financial long-term debt to total Ameriprise Financial capital | 32.0% | 35.2% | 32.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs <sup>(2)</sup> | 32.1% | 35.3% | 32.4% |
| <sup>(1)</sup> Includes adjustments for net unamortized discounts, debt issuance costs and other lease obligations. | <sup>(1)</sup> Includes adjustments for net unamortized discounts, debt issuance costs and other lease obligations. | <sup>(1)</sup> Includes adjustments for net unamortized discounts, debt issuance costs and other lease obligations. | <sup>(1)</sup> Includes adjustments for net unamortized discounts, debt issuance costs and other lease obligations. |
| <sup>(2)</sup> Includes accumulated other comprehensive income, net of tax. | <sup>(2)</sup> Includes accumulated other comprehensive income, net of tax. | <sup>(2)</sup> Includes accumulated other comprehensive income, net of tax. | <sup>(2)</sup> Includes accumulated other comprehensive income, net of tax. |

---

------

---

| | | |
|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** |
| (in millions, unaudited) | **December 31,<br>2025** | **December 31,<br>2024** |
| &nbsp;&nbsp;**Assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $9953 | $8149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash of consolidated investment entities | 150 | 373 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments | 58406 | 56423 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments of consolidated investment entities | 2618 | 2387 |
| &nbsp;&nbsp;&nbsp;&nbsp;Market risk benefits | 2274 | 2182 |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account assets | 80044 | 78114 |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivables | 14920 | 14472 |
| &nbsp;&nbsp;&nbsp;&nbsp;Receivables of consolidated investment entities | 30 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred acquisition costs | 2625 | 2677 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted and segregated cash and investments | 1055 | 1444 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 18829 | 15149 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets of consolidated investment entities |  | 2 |
| &nbsp;&nbsp;**Total Assets** | $190904 | $181403 |
| &nbsp;&nbsp;**Liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Policyholder account balances, future policy benefits and claims | $46498 | $41873 |
| &nbsp;&nbsp;&nbsp;&nbsp;Market risk benefits | 1182 | 1263 |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account liabilities | 80044 | 78114 |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer deposits | 33750 | 35826 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 200 | 201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 3077 | 2842 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt of consolidated investment entities | 2585 | 2429 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | 2982 | 2704 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 13878 | 10609 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities of consolidated investment entities | 159 | 314 |
| &nbsp;&nbsp;**Total Liabilities** | 184355 | 176175 |
| &nbsp;&nbsp;**Equity** |  |  |
| &nbsp;&nbsp;Ameriprise Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common shares ($.01 par) | 3 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 10377 | 10141 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 27662 | 24713 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock | (30601) | (27721) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income, net of tax | (892) | (1908) |
| &nbsp;&nbsp;**Total Equity** | 6549 | 5228 |
| &nbsp;&nbsp;**Total Liabilities and Equity** | $190904 | $181403 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** |
| | **Quarter Ended December 31,** | **Quarter Ended December 31,** | **% Better/<br>(Worse)** | **Per Diluted Share <br>Quarter Ended <br>December 31,** | **Per Diluted Share <br>Quarter Ended <br>December 31,** | **Per Diluted Share <br>Quarter Ended <br>December 31,** | **Per Diluted Share <br>Quarter Ended <br>December 31,** | **% Better/<br>(Worse)** |
| (in millions, except per share amounts, unaudited) | **2025** | **2024** | **% Better/<br>(Worse)** | **2025** | **2025** | **2024** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;Net income | 1008 | 1071 | (6)% | $| 10.47 | $| 10.58 | (1)% |
| &nbsp;&nbsp;Adjustments: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized investment gains (losses) <sup>(1)</sup> | 1 | (12) |  | 0.01 | 0.01 | (0.12) | (0.12) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Market impact on non-traditional long-duration products <sup>(1)</sup> | (43) | 169 |  | (0.44) | (0.44) | 1.67 | 1.67 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) attributable to consolidated investment entities | (1) |  |  | (0.01) | (0.01) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax effect of adjustments <sup>(2)</sup> | 8 | (33) |  | 0.08 | 0.08 | (0.33) | (0.33) |  |
| &nbsp;&nbsp;Adjusted operating earnings | 1043 | 947 | 10% | $| 10.83 | $| 9.36 | 16% |
| &nbsp;&nbsp;Weighted average common shares outstanding: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 94.8 | 99.2 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 96.3 | 101.2 |  |  |  |  |  |  |
| <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. |
| <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** | **Reconciliation Table: Earnings** |
| | **Year-to-date<br>December 31,** | **Year-to-date<br>December 31,** | **% Better/<br>(Worse)** | **Per Diluted Share<br>Year-to-date<br>December 31,** | **Per Diluted Share<br>Year-to-date<br>December 31,** | **Per Diluted Share<br>Year-to-date<br>December 31,** | **% Better/<br>(Worse)** |
| (in millions, except per share amounts, unaudited) | **2025** | **2024** | **% Better/<br>(Worse)** | **2025** | **2025** | **2024** | **% Better/<br>(Worse)** |
| &nbsp;&nbsp;Net income | 3563 | 3401 | 5% | $| 36.28 | 33.05 | 10% |
| &nbsp;&nbsp;Adjustments: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized investment gains (losses) <sup>(1)</sup> | (8) | (21) |  | (0.08) | (0.08) | (0.20) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Market impact on non-traditional long-duration products <sup>(1)</sup> | (366) | (153) |  | (3.73) | (3.73) | (1.49) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mean reversion-related impacts <sup>(1)</sup> | 1 | 1 |  | 0.01 | 0.01 | 0.01 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) attributable to consolidated investment entities |  | 3 |  |  |  | 0.03 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax effect of adjustments <sup>(2)</sup> | 78 | 36 |  | 0.79 | 0.79 | 0.35 |  |
| &nbsp;&nbsp;Adjusted operating earnings | 3858 | 3535 | 9% | $| 39.29 | 34.35 | 14% |
| &nbsp;&nbsp;Weighted average common shares outstanding: | &nbsp;&nbsp;Weighted average common shares outstanding: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 96.7 | 101.0 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 98.2 | 102.9 |  |  |  |  |  |
| <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. | <sup>(1)</sup> Pretax adjusted operating adjustment. |
| <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. | <sup>(2)</sup> Calculated using the statutory tax rate of 21%. |

---

------

---

| | | |
|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Reconciliation Table: Pretax Adjusted Operating Earnings** | **Reconciliation Table: Pretax Adjusted Operating Earnings** | **Reconciliation Table: Pretax Adjusted Operating Earnings** |
| | **Quarter Ended December 31,** | **Quarter Ended December 31,** |
| (in millions, unaudited) | **2025** | **2024** |
| &nbsp;&nbsp;Total net revenues | $4960 | $4501 |
| &nbsp;&nbsp;Adjustments: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net realized investment gains (losses) | 1 | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market impact on non-traditional long-duration products | 2 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;CIEs revenue | 41 | 53 |
| &nbsp;&nbsp;**Adjusted operating total net revenues** | $4916 | $4463 |
| &nbsp;&nbsp;Total expenses | $3668 | $3149 |
| &nbsp;&nbsp;Adjustments: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;CIEs expenses | 42 | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;Market impact on non-traditional long-duration products | 45 | (172) |
| &nbsp;&nbsp;**Adjusted operating expenses** | $3581 | $3268 |
| &nbsp;&nbsp;Pretax income | $1292 | $1352 |
| &nbsp;&nbsp;Pretax adjusted operating earnings | $1335 | $1195 |
| &nbsp;&nbsp;Pretax income margin | 26.0% | 30.0% |
| &nbsp;&nbsp;Pretax adjusted operating margin | 27.2% | 26.8% |

---

---

| | | |
|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Reconciliation Table: Effective Tax Rate** | **Reconciliation Table: Effective Tax Rate** | **Reconciliation Table: Effective Tax Rate** |
| | **Quarter Ended<br>December 31, 2024** | **Quarter Ended<br>December 31, 2024** |
| (in millions, unaudited) | **GAAP** | **Adjusted Operating** |
| &nbsp;&nbsp;Pretax income | $1352 | $1195 |
| &nbsp;&nbsp;Income tax provision | $281 | $248 |
| &nbsp;&nbsp;Effective tax rate | 20.8% | 20.8% |

---

---

| | | |
|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Reconciliation Table: Effective Tax Rate** | **Reconciliation Table: Effective Tax Rate** | **Reconciliation Table: Effective Tax Rate** |
| | **Quarter Ended<br>December 31, 2025** | **Quarter Ended<br>December 31, 2025** |
| (in millions, unaudited) | **GAAP** | **Adjusted Operating** |
| &nbsp;&nbsp;Pretax income | $1292 | $1335 |
| &nbsp;&nbsp;Income tax provision | $284 | $292 |
| &nbsp;&nbsp;Effective tax rate | 22.0% | 21.9% |

---

------

---

| | | |
|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Reconciliation Table: Effective Tax Rate** | **Reconciliation Table: Effective Tax Rate** | **Reconciliation Table: Effective Tax Rate** |
| | **Year-to-date<br>December 31, 2025** | **Year-to-date<br>December 31, 2025** |
| (in millions, unaudited) | **GAAP** | **Adjusted Operating** |
| &nbsp;&nbsp;Pretax income | $4504 | $4877 |
| &nbsp;&nbsp;Income tax provision | $941 | $1019 |
| &nbsp;&nbsp;Effective tax rate | 20.9% | 20.9% |

---

---

| | |
|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Reconciliation Table: Long Term Care Adjusted Operating Earnings** | **Reconciliation Table: Long Term Care Adjusted Operating Earnings** |
| | **Year-to-date<br>December 31, 2025** |
| (in millions, unaudited) | **Long Term Care** |
| &nbsp;&nbsp;Pretax adjusted operating earnings | $2 |
| &nbsp;&nbsp;Unlocking | (26) |
| &nbsp;&nbsp;Pretax adjusted operating earnings, excluding unlocking | $28 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** | **Ameriprise Financial, Inc.** |
| **Reconciliation Table: Return on Equity (ROE) Excluding Accumulated<br>Other Comprehensive Income "AOCI"** | **Reconciliation Table: Return on Equity (ROE) Excluding Accumulated<br>Other Comprehensive Income "AOCI"** | **Reconciliation Table: Return on Equity (ROE) Excluding Accumulated<br>Other Comprehensive Income "AOCI"** | **Reconciliation Table: Return on Equity (ROE) Excluding Accumulated<br>Other Comprehensive Income "AOCI"** | **Reconciliation Table: Return on Equity (ROE) Excluding Accumulated<br>Other Comprehensive Income "AOCI"** |
| | **Twelve Months Ended<br> December 31,** | **Twelve Months Ended<br> December 31,** | **Twelve Months Ended<br> December 31,** | **Twelve Months Ended<br> December 31,** |
| (in millions, unaudited) | **2025** | **2025** | **2024** | **2024** |
| &nbsp;&nbsp;Net income | $| 3563 | $| 3401 |
| &nbsp;&nbsp;Less: Adjustments <sup>(1)</sup> | (295) | (295) | (134) | (134) |
| &nbsp;&nbsp;**Adjusted operating earnings** | $| 3858 | $| 3535 |
| &nbsp;&nbsp;Total Ameriprise Financial, Inc. shareholders' equity | $| 5948 | $| 5109 |
| &nbsp;&nbsp;Less: Accumulated other comprehensive income, net of tax | (1305) | (1305) | (1739) | (1739) |
| &nbsp;&nbsp;Total Ameriprise Financial, Inc. shareholders' equity excluding AOCI | 7253 | 7253 | 6848 | 6848 |
| &nbsp;&nbsp;Less: Equity impacts attributable to the consolidated investment entities |  |  | (3) | (3) |
| &nbsp;&nbsp;**Adjusted operating equity** | $| 7253 | $| 6851 |
| &nbsp;&nbsp;Return on equity excluding AOCI | 49.1 | 49.1% | 49.7 | 49.7% |
| &nbsp;&nbsp;Adjusted operating return on equity, excluding AOCI <sup>(2)</sup> | 53.2 | 53.2% | 51.6 | 51.6% |
| <sup>(1)</sup> Adjustments reflect the sum of after-tax net realized investment gains or losses, net of the reinsurance accrual; the market impact on non-traditional long-duration products (including variable and fixed deferred annuity contracts and UL insurance contracts), net of hedges and related reinsurance accrual; mean reversion related impacts; the market impact of hedges to offset interest rate and currency changes on unrealized gains or losses for certain investments; block transfer reinsurance transaction impacts; gain or loss on disposal of a business that is not considered discontinued operations; integration and restructuring charges; income (loss) from discontinued operations; and net income (loss) from consolidated investment entities. After-tax is calculated using the statutory tax rate of 21%. | <sup>(1)</sup> Adjustments reflect the sum of after-tax net realized investment gains or losses, net of the reinsurance accrual; the market impact on non-traditional long-duration products (including variable and fixed deferred annuity contracts and UL insurance contracts), net of hedges and related reinsurance accrual; mean reversion related impacts; the market impact of hedges to offset interest rate and currency changes on unrealized gains or losses for certain investments; block transfer reinsurance transaction impacts; gain or loss on disposal of a business that is not considered discontinued operations; integration and restructuring charges; income (loss) from discontinued operations; and net income (loss) from consolidated investment entities. After-tax is calculated using the statutory tax rate of 21%. | <sup>(1)</sup> Adjustments reflect the sum of after-tax net realized investment gains or losses, net of the reinsurance accrual; the market impact on non-traditional long-duration products (including variable and fixed deferred annuity contracts and UL insurance contracts), net of hedges and related reinsurance accrual; mean reversion related impacts; the market impact of hedges to offset interest rate and currency changes on unrealized gains or losses for certain investments; block transfer reinsurance transaction impacts; gain or loss on disposal of a business that is not considered discontinued operations; integration and restructuring charges; income (loss) from discontinued operations; and net income (loss) from consolidated investment entities. After-tax is calculated using the statutory tax rate of 21%. | <sup>(1)</sup> Adjustments reflect the sum of after-tax net realized investment gains or losses, net of the reinsurance accrual; the market impact on non-traditional long-duration products (including variable and fixed deferred annuity contracts and UL insurance contracts), net of hedges and related reinsurance accrual; mean reversion related impacts; the market impact of hedges to offset interest rate and currency changes on unrealized gains or losses for certain investments; block transfer reinsurance transaction impacts; gain or loss on disposal of a business that is not considered discontinued operations; integration and restructuring charges; income (loss) from discontinued operations; and net income (loss) from consolidated investment entities. After-tax is calculated using the statutory tax rate of 21%. | <sup>(1)</sup> Adjustments reflect the sum of after-tax net realized investment gains or losses, net of the reinsurance accrual; the market impact on non-traditional long-duration products (including variable and fixed deferred annuity contracts and UL insurance contracts), net of hedges and related reinsurance accrual; mean reversion related impacts; the market impact of hedges to offset interest rate and currency changes on unrealized gains or losses for certain investments; block transfer reinsurance transaction impacts; gain or loss on disposal of a business that is not considered discontinued operations; integration and restructuring charges; income (loss) from discontinued operations; and net income (loss) from consolidated investment entities. After-tax is calculated using the statutory tax rate of 21%. |
| <sup>(2)</sup> Adjusted operating return on equity, excluding AOCI is calculated using adjusted operating earnings in the numerator, and Ameriprise Financial shareholders' equity, excluding AOCI and the impact of consolidating investment entities using a five-point average of quarter-end equity in the denominator. After-tax is calculated using the statutory tax rate of 21%.  | <sup>(2)</sup> Adjusted operating return on equity, excluding AOCI is calculated using adjusted operating earnings in the numerator, and Ameriprise Financial shareholders' equity, excluding AOCI and the impact of consolidating investment entities using a five-point average of quarter-end equity in the denominator. After-tax is calculated using the statutory tax rate of 21%.  | <sup>(2)</sup> Adjusted operating return on equity, excluding AOCI is calculated using adjusted operating earnings in the numerator, and Ameriprise Financial shareholders' equity, excluding AOCI and the impact of consolidating investment entities using a five-point average of quarter-end equity in the denominator. After-tax is calculated using the statutory tax rate of 21%.  | <sup>(2)</sup> Adjusted operating return on equity, excluding AOCI is calculated using adjusted operating earnings in the numerator, and Ameriprise Financial shareholders' equity, excluding AOCI and the impact of consolidating investment entities using a five-point average of quarter-end equity in the denominator. After-tax is calculated using the statutory tax rate of 21%.  | <sup>(2)</sup> Adjusted operating return on equity, excluding AOCI is calculated using adjusted operating earnings in the numerator, and Ameriprise Financial shareholders' equity, excluding AOCI and the impact of consolidating investment entities using a five-point average of quarter-end equity in the denominator. After-tax is calculated using the statutory tax rate of 21%.  |

---

<br>