Ameriprise Financial, Inc. · NYSE:AMP
Ameriprise Financial — Q2 2026 Earnings Presentation
19 slides from Ameriprise Financial's earnings presentation, Jul 23, 2026
Slide 1: Ameriprise Financial Second Quarter 2026 Conference Call
Ameriprise Financial Second Quarter 2026 Conference Call July 23, 2026 © 2026 Ameriprise Financial, Inc. All rights reserved.
Slide 2: Forward-looking statements
Forward-looking statements Some of the statements made in our July 23, 2026 earnings release and/or in this presentation constitute forward-looking statements. These statements reflect management's estimates, plans, beliefs and expectations, and speak only as of July 23, 2026. These forward-looking
Slide 3: Consolidated Results
Consolidated Results Quarter-Ended June 30, Year-To-Date June 30, GAAP 2026 2025 Better/(Worse) 2026 2025 Better/(Worse) Net Revenues ($M) $4,940 $4,375 13% $9,752 $8,729 12% Expenses ($M) $3,498 $3,024 (16)% $7,166 $6,691 (7)% Net Income ($M) $1,113 $1,060 5% $2,028 $1,643 23% Diluted EPS $11.98 $1
Slide 4: Q2 2026 Business & Financial Results
Q2 2026 Business & Financial Results Walter Berman Chief Financial Officer © 2026 Ameriprise Financial, Inc. All rights reserved. 4
Slide 5: Ameriprise continues to deliver strong financial results demonstrating our continued focus on profitable growth
Ameriprise continues to deliver strong financial results demonstrating our continued focus on profitable growth • Adjusted operating earnings per diluted share increased 22% to $11.07 • Total assets under management, administration and advisement increased 14% to $1.8 trillion • Adjusted operating n
Slide 6: Wealth Management delivered excellent financial results
Wealth Management delivered excellent financial results Pretax Adjusted Pretax Adjusted • Revenue increased 16% to $3.2 billion Operating Earnings Operating Margin • Total expenses increased by 16% $ in millions ◦ Distribution expense increased 18%, with advisor compensation up in line with advisor-
Slide 7: Advice & Wealth Management generated solid asset growth in the quarter
Advice & Wealth Management generated solid asset growth in the quarter • Total client assets grew 15% or $164 billion to $1.2 trillion and wrap assets increased 19% or $116 billion to $732 Total Client Assets Total Wrap Assets billion driven by solid organic growth, strong advisor productivity and e
Slide 8: Advice & Wealth Management generated solid productivity growth
Advice & Wealth Management generated solid productivity growth Adjusted Operating TTM Revenue Per Advisor • Revenue increased 16% to $3.2 billion Total Net Revenue $ in thousands • Core distribution revenue(1) increased 18% $ in millions driven by higher client assets and advisory fees, as well as i
Slide 9: Asset Management generated strong financial results with a 43% margin
Asset Management generated strong financial results with a 43% margin Adjusted Operating Pretax Adjusted • Total Assets Under Management and Advisement increased Total Net Revenue Operating Earnings 10% to $759 billion $ in millions $ in millions • Revenue increased 14% to $947 million and the under
Slide 10: Retirement & Protection Solutions generated consistent earnings and free cash flow
Retirement & Protection Solutions generated consistent earnings and free cash flow Adjusted Operating Pretax Adjusted • Retirement & Protection Solutions adjusted operating revenue Total Net Revenue Operating Earnings increased 4% to $975 million due to higher variable annuity $ in millions $ in mil
Slide 11: Differentiated capital return to shareholders supports best-in-class ROE of 55%
Differentiated capital return to shareholders supports best-in-class ROE of 55% (1) Return on Equity(1) Capital Returned • Sustainability of capital return to shareholders is to Shareholders supported by strong fundamentals $ in millions ◦ Holding company available liquidity of $2.8 billion 55% $1,8
Slide 12: Our approach delivers sustained profitable growth
Our approach delivers sustained profitable growth One Year Performance (TTM Q2 2026 vs TTM Q2 2025) +260 bps $3.8 billion +10% +15% Increase in Capital Revenue EPS Return on Returned to Growth (1) Growth (2) Equity, ex. Shareholders AOCI (1) Five Year Performance (TTM Q2 2026 vs TTM Q2 2021) +1,020
Slide 13: Appendix
Appendix © 2026 Ameriprise Financial, Inc. All rights reserved. 13
Slide 14: Reconciliation tables
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Per Diluted Share Quarter Ended Quarter Ended June 30, June 30, % Better/ % Better/ (in millions, except per share amounts, unaudited) 2026 2025 (Worse) 2026 2025 (Worse) Net income $ 1,113 $ 1,060 5% $ 11.98 $ 10.73 12% Adjustments
Slide 15: Reconciliation tables
Reconciliation tables Pretax Adjusted Operating Earnings Quarter Ended June 30, % Better/ (in millions, unaudited) 2026 2025 (Worse) Total net revenues $ 4,940 $ 4,375 13% Adjustments: Net realized investment gains (losses) 5 (18) Market impact on non-traditional long-duration products (3) 4 Mean Re
Slide 16: Reconciliation tables
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Per Diluted Share Twelve Twelve Months ending June 30, % Better/ Months June 30, % Better/ (in millions, except per share amounts, unaudited) 2026 2025 (Worse) 2026 2025 (Worse) Total net revenues $ 19,503 $ 17,627 Adjustments: Net
Slide 17: Reconciliation tables
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Twelve Months ending Per Diluted Share Twelve June 30, Months June 30, (in millions, except per share amounts, unaudited) 2026 2021 CAGR 2026 2021 CAGR Total net revenues $ 19,503 $ 12,922 Adjustments: Net realized investment gains
Slide 18: Reconciliation tables
Reconciliation tables Asset Management Net Pretax Adjusted Operating Margin Quarter Ended June 30, (in millions, unaudited) 2 Qtr 2026 2 Qtr 2025 Adjusted operating total net revenues $ 947 $ 830 Distribution pass through revenues (215) (190) Subadvisory and other pass through revenues (97) (99) Net
Slide 19: Reconciliation tables
Reconciliation tables Adjusted Operating Return on Equity Twelve Months Ended June 30, (in millions, unaudited) 2026 2025 2021 Net income $ 3,948 $ 3,225 $ 1,828 Less: Adjustments (1) (152) (400) (203) Adjusted operating earnings 4,100 3,625 2,031 Less: Annual unlocking (2) (5) (74) (349) Adjusted o