Ameriprise Financial, Inc. · NYSE:AMP
Ameriprise Financial — Q1 2026 Earnings Presentation
20 slides from Ameriprise Financial's earnings presentation, Apr 23, 2026
Slide 1: Ameriprise Financial First Quarter 2026 Conference Call
Ameriprise Financial First Quarter 2026 Conference Call April 23, 2026 © 2026 Ameriprise Financial, Inc. All rights reserved.
Slide 2: Forward-looking statements
Forward-looking statements Some of the statements made in our April 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 April 23, 2026. These forward-lookin
Slide 3: Consolidated Results
Consolidated Results GAAP 1 Qtr 2026 1 Qtr 2025 Better/(Worse) Net Revenues ($M) $4,812 $4,354 11% Expenses ($M) $3,668 $3,667 - Net Income ($M) $915 $583 57% Diluted EPS $9.68 $5.83 66% Return on Equity, ex. AOCI (1) 53.3% 43.2% 1,010 bps Adjusted Operating 1 Qtr 2026 1 Qtr 2025 Better/(Worse) Net
Slide 4: Q1 2026 Business & Financial Results
Q1 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
Ameriprise continues to deliver strong financial results • Adjusted operating earnings per diluted share increased 19% to $11.26 with a strong margin of 28% • Total assets under management, administration and advisement increased 12% to $1.7 trillion • Adjusted operating net revenues increased 11% t
Slide 6: Wealth Management delivered excellent financial results
Wealth Management delivered excellent financial results Pretax Adjusted Pretax Adjusted • Revenue increased 14% to $3.2 billion ◦ Core distribution revenue(1) increased 17% driven by Operating Earnings Operating Margin higher client assets and advisory fees, as well as $ in millions increased transa
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 Total Wrap Assets • Total client assets grew 12% to $1.1 trillion and $ in billions $ in billions wrap assets increased 16% to $664 billion, driven by: $664 ◦ Solid organic growth $1,149 16% 12% ◦ Strong advis
Slide 8: Advice & Wealth Management generated solid productivity growth
Advice & Wealth Management generated solid productivity growth TTM Revenue Per Advisor Adjusted Operating • Advisor productivity reached a new high of $1.2 million, $ in thousands Total Net Revenue up 10% $ in millions ◦ Transactional activity increased 10% driven by 10% $1,160 $3,175 increased sale
Slide 9: Asset Management generated strong financial results with a 44% margin
Asset Management generated strong financial results with a 44% margin Adjusted Operating Pretax Adjusted • Total Assets Under Management and Advisement increased Total Net Revenue Operating Earnings to $706 billion, up 8% $ in millions $ in millions • Revenues increased 8% to $910 million and the un
Slide 10: Retirement & Protection Solutions generated consistent earnings and free cash flow
Retirement & Protection Solutions generated consistent earnings and free cash flow Pretax Adjusted • Retirement & Protection Solutions pretax adjusted operating earnings were Operating Earnings $190 million $ in millions ◦ Results reflected higher distribution expenses associated with strong sales l
Slide 11: Created significant shareholder value through opportunistic capital return
Created significant shareholder value through opportunistic capital return • Sustainability of capital return to shareholders is supported by Capital Returned to Shareholders strong fundamentals $ in millions $1,050 ◦ Holding company available liquidity of $2.3 billion $153 $936 ◦ Excess capital pos
Slide 12: Our approach delivers sustained profitable growth
Our approach delivers sustained profitable growth One Year Performance (TTM Q1 2026 vs TTM Q1 2025) +140 bps $3.6 billion +8% +12% Increase in Capital Revenue EPS Return on Returned to Growth (1) Growth (2) Equity, ex. Shareholders AOCI (1) Five Year Performance (TTM Q1 2026 vs TTM Q1 2021) +1,780 b
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 March 31, March 31, % Better/ % Better/ (in millions, except per share amounts, unaudited) 2026 2025 (Worse) 2026 2025 (Worse) Net income $ 915 $ 583 57% $ 9.68 $ 5.83 66% Adjustments: N
Slide 15: Reconciliation tables
Reconciliation tables Pretax Adjusted Operating Earnings Quarter Ended March 31, % Better/ (in millions, unaudited) 2026 2025 (Worse) Total net revenues $ 4,812 $ 4,354 11% Adjustments: Net realized investment gains (losses) (5) (2) Market impact on non-traditional long-duration products 2 5 Revenue
Slide 16: Reconciliation tables
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Per Diluted Share Twelve Twelve Months ending March 31, % Better/ Months March 31, % Better/ (in millions, except per share amounts, unaudited) 2026 2025 (Worse) 2026 2025 (Worse) Total net revenues $ 18,938 $ 17,472 Adjustments: Ne
Slide 17: Reconciliation tables
Reconciliation tables Adjusted Operating Earnings Per Diluted Share Twelve Months ending Per Diluted Share Twelve March 31, Months March 31, (in millions, except per share amounts, unaudited) 2026 2021 CAGR 2026 2021 CAGR Total net revenues $ 18,938 $ 12,239 Adjustments: Net realized investment gain
Slide 18: Reconciliation tables
Reconciliation tables Advice & Wealth Management Adjusted Pretax Operating Earnings Quarter Ended March 31, % Better/ (in millions, unaudited) 2026 2025 (Worse) AWM pretax adjusted operating earnings $ 951 $ 792 20% Less: Impact of Comerica termination 25 — AWM pretax adjusted operating earnings ex.
Slide 19: Reconciliation tables
Reconciliation tables Asset Management Net Pretax Adjusted Operating Margin Quarter Ended March 31, (in millions, unaudited) 1 Qtr 2026 1 Qtr 2025 Adjusted operating total net revenues $ 910 $ 846 Distribution pass through revenues (206) (195) Subadvisory and other pass through revenues (103) (91) N
Slide 20: Reconciliation tables
Reconciliation tables Return on Equity (ROE) Excluding Accumulated Other Comprehensive Income “AOCI” Twelve Months Ended March 31, (in millions, unaudited) 2026 2025 2021 Net income $ 3,895 $ 2,994 $ 933 Less: Adjustments (1) (77) (613) (793) Adjusted operating earnings 3,972 3,607 1,726 Less: Annua