Ameriprise Financial : Q2 2026 Investor Presentation

About this update from Ameriprise Financial, Inc.

Ameriprise Financial Overview © 2026 Ameriprise Financial, Inc. All rights reserved. Ameriprise Financial - a strong, successful company continually innovating to serve clients' needs exceptionally well More than 130-year firm with a clear client focus and a highly differentiated value proposition Complementary business mix that has delivered strong financials and metrics across market cycles © 2026 Ameriprise Financial, Inc. All rights reserved. Significant market opportunity with a large and growing need for advice and solutions in Wealth Management Balance sheet strength provides a sound foundation and supports strong, sustainable free cash flow and differentiated capital return 3 Our vision, mission, brand promise, and values guide our company, resulting in strong client relationships and excellent satisfaction Vision What we aspire to be Corporate Mission Our purpose Brand Promise Our commitment to clients To be the most respected and referred financial services brand To help people feel confident about their financial future We shape financial solutions for a lifetime® Values What we can expect from each other Client Focused Integrity Always Excellence in All We Do Respect for Individuals and Our Communities © 2026 Ameriprise Financial, Inc. All rights reserved. 4 More than 130 years of commitment to clients and advisors Leadership and scale A longstanding leader in financial planning and advice in the U.S. $1.8 trillion total assets under management, administration and advisement Over 10,000 branded advisors in the U.S. 25th largest global asset manager $25 billion in assets at Ameriprise Bank, FSB $197 billion life insurance in force Data as of June 30, 2026. See appendix for source information. © 2026 Ameriprise Financial, Inc. All rights reserved. Financial strength and stability Excellent capital position with $2.1 billion of excess capital above business, regulatory and rating agency requirements $2.8 billion of available liquidity High-quality, AA- rated investment portfolio Strong ratings and proven enterprise risk management Conservative debt level with Debt/EBITDA below 1x Diversified model generates strong free cash flow of ~90% Financial strength to manage volatile market environments while continuing to invest in the business Track record of never taking a bailout $41.2 billion market cap - up from $8.8B at spin off #1 in total shareholder return within the S&P 500 Financials Index since spin off 5 Strong asset persistency from client relationships built on trust and personalized advice Diverse business mix performs well across market cycles Our business mix provides important benefits over market cycles with significant leverage points across the firm Significant leverage across our businesses Maintain pristine balance sheet and generate substantial free cash flow Generate multiple revenue streams and strong return on assets © 2026 Ameriprise Financial, Inc. All rights reserved. 6 Our integrated model leverages key business linkages to drive growth and consistency across market cycles AWM & RiverSource AWM is sole distributor of RiverSource solutions $197 billion inforce life insurance $94 billion of variable annuity AV Enhanced client retention - clients with a RiverSource solution have 3.3 times better retention(1) Advice and Wealth Management Columbia Threadneedle & RiverSource Manages $69 billion RiverSource Separate Account assets Manages $30 billion RiverSource General Account assets Columbia Threadneedle & AWM AWM distributes $156 billion of Columbia Threadneedle funds Columbia Threadneedle manages $20 billion discretionary wrap program(2) Columbia Threadneedle manages $23 billion of Bank assets and $8 billion of Certificate assets Enterprise Capabilities Data as of June 30, 2026 Client retention is based on 5-year period from 12/2020-12/2025 Enterprise Capabilities Balance sheet strength and enterprise risk management capabilities Global efficiencies from leverage points across the enterprise e.g., technology, Ameriprise India Included in the AWM distributed Columbia funds above 7 © 2026 Ameriprise Financial, Inc. All rights reserved. We have grown our Wealth Management business while maintaining strong complementary capabilities Pretax Adjusted Operating Earnings 20% 32% 2016 $2.3B 40% 2026 $5.6B 14% 66% 28%Advice & Wealth Management Asset Management Retirement & Protection Solutions 2026 represents trailing 12-months through June 30, 2026. Excludes Corporate & Other segment and unlocking. Results beginning in Q1 2021 have been recast to reflect adoption of long duration targeted investments (LDTI). © 2026 Ameriprise Financial, Inc. All rights reserved. 8 Our approach delivers sustained profitable growth One Year Performance (TTM Q2 2026 vs. TTM Q2 2025) +10% Revenue Growth(1) +15% EPS Growth(2) +260 bps Increase in Return on Equity, ex. AOCI(1) $3.8 billion Capital Returned to Shareholders Five Year Performance (TTM Q2 2026 vs. TTM Q2 2021) +9% Revenue CAGR(3) +17% EPS CAGR(3) +1,020 bps Increase in Return on Equity, ex. AOCI(3) $14.3 billion Capital Returned to Shareholders Data on a trailing 12-month basis, except 5-year capital return. 9 Results exclude unlocking impacts which reflect both the company's annual review of insurance and annuity valuation assumptions and model changes. Results exclude unlocking, severance and mark-to-market impact on share-based compensation expense in both periods. Results exclude unlocking impacts. 2020 financial results have not been recast to reflect adoption of long duration targeted investments (LDTI). Ameriprise is #1 for total shareholder return in the S&P 500 Financials Index since spin-off in 2005 +1,823% #1 BEST PERFORMING stock in the S&P 500 Financials Index +806% Spin-off 2005 2026 +242% AMP S&P 500 Financials S&P Index Data as of June 30, 2026. See appendix for source information. © 2026 Ameriprise Financial, Inc. All rights reserved. 10 Wealth Management: We serve an attractive and fast-growing market, with the client at the heart of everything we do Our priority is to work with consumers who have a "Responsible Mindset" - they are open to and see the value in working with a financial advisor and receiving advice and recognize that comes with a fee Our primary target is those with $500,000 to $5 million in investable assets (the "5-to-5") We are also well-suited to serve those on both ends of this asset range, including more affluent households and the next generation of investors still building wealth ($100,000 to $500,000) Among the estimated 20M U.S. households with $500K-$5M… 80% This 5-5 Responsible Mindset target market encompasses: 16M $23T Total households Total assets … also belong to the Responsible Mindset See appendix for source information. © 2026 Ameriprise Financial, Inc. All rights reserved. 11 We provide a distinguished client and advisor experience that leads to high satisfaction and strong results The Ameriprise Client Experience Since 2018, the Ameriprise Client Experience has been our bold commitment to delivering a consistently exceptional experience for every client. Central to this experience are four client commitments, shaped by extensive research into what our target market values most. These commitments guide how we serve clients and set Ameriprise apart. Financial advice for a lifetime Personalized investments and solutions Secure digital access Meaningful connections Longstanding leader in financial planning and advice 2026 Hearts & Wallets Top PerformerTM recognition in "Unbiased, puts my interests first" 4.9 out of 5 in overall client satisfaction Our advisor network drives approximately 87%+ of firmwide revenue. We provide a strong brand to both legacy and newly recruited advisors, as well as best-in-class tools, solutions and end-to-end support and coaching to build a successful practice and serve their clients incredibly well. Advice, Solutions and the Ameriprise Client Experience Brand and Marketing PracticeTech® Platform Services, Operations and Compliance Support Practice Management Learning and Development 10% annual revenue per advisor growth(1) Approximately 9 in 10 advisors report our support and resources are better than previous firm NET FLOWS Data as of June 30, 2026. See appendix for source information. (1) Calculated as the compounded annual growth on a trailing 12-month basis over the past 5 years through June 30, 2026. © 2026 Ameriprise Financial, Inc. All rights reserved. 12 Our ongoing investments have driven an industry-leading integrated technology experience for clients and advisors Best-in-class Technology Drives Operating Efficiencies Strategically Using Advanced Analytics Cybersecurity Protect the Brand Operate reliable and resilient systems with effective/verifiable controls Automation and Risk Management Maintain secure and compliant internal and vendor solutions Leveraging capabilities across the enterprise while being careful to balance risk, complexity and value Improve technology value and cost transparency Create best-in-class customer experiences Build leading infrastructure/ cloud solutions $1 billion Annual technology spend 9 out of 10 Ameriprise recruited advisors say they have better integrated technology than their prior firm 4.8/5 stars Clients rate the Ameriprise Financial app Accelerated underwriting Approximately 25% of eligible clients will be approved as fast as the next day See appendix for source information. © 2026 Ameriprise Financial, Inc. All rights reserved. 13 Ameriprise is recognized for our differentiated value proposition 4.9/5 in overall satisfaction and "always putting my interests first" Clients rate AmeripriseAmeriprise Financial earned a 2026 Top PerformerTM recognition in "Unbiased, puts my interests first" For the seventh consecutive year recognized by for providing "An Outstanding Customer Service Experience" for phone support for advisors and second consecutive year for phone support for clients See appendix for source information. © 2026 Ameriprise Financial, Inc. All rights reserved. 14 Wealth Management has been a core driver of financial performance with continued significant growth potential Client Assets ($B) Adjusted Operating Net Revenue ($B) Pretax Adjusted Operating Earnings ($M) Pretax Adjusted Operating Margin CAGR 11% $479 $1,248 2016 2026 CAGR 10% $5.1 $12.6 2016 2026 $910 CAGR 16% $3,697 2016 2026 17.7% +1,170 bps 29.4% 2016 2026 2026 represents as of 6-30-26 or the trailing 12-months through 6-30-26. 2016 represents as of 12-31-16 or full year 2016. © 2026 Ameriprise Financial, Inc. All rights reserved. 15 35% 30% Peer 4 25% 20% 15% 10% Peer 1 5% 5 Year Avera Client Asset 0% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% ge PTI Per Peer 2 Peer 3 Best in class Q2 2026 TTM Margin Our client and advisor value proposition drive best-in-class profitability across market cycles -% -% Data as of June 30, 2026. Peers consist of LPL Financial, Raymond James Private Client Group, Bank of America Wealth Management and Morgan Stanley Wealth Management. © 2026 Ameriprise Financial, Inc. All rights reserved. 16 Our highly differentiated Retirement and Protection Solutions business delivers significant value for Ameriprise clients and advisors Top 10 VUL provider Top 15 VA provider Top 10 DI provider Strong returns with a lower risk profile $197B Life Insurance inforce and $94B in VA Account Value 100% affiliated distribution Strategically managing our books of business Excellent ratings Recognized by J.D. Power for "outstanding customer service experience" Important solutions for our Ameriprise comprehensive advice approach Generating significant free cash flow Data as of June 30, 2026. See appendix for source information. © 2026 Ameriprise Financial, Inc. All rights reserved. 17 Retirement & Protection: High quality business with attractive risk-return profile generates distinguished results High-quality book of business built over many years RPS generated $7.4 billion of pretax operating earnings since 2016 Asset accumulation and protection products are long-term client solutions offered as part of a financial plan Focused on a single attractive channel - the Ameriprise "Responsible Mindset" client base Continue to enhance risk profile, financial performance and capital efficiency Sold Ameriprise Auto & Home in 2019 RiverSource paid $9.2 billion of dividends to Ameriprise since 2016 Reinsured fixed annuity business in 2019 & 2021 Discontinued sales of Variable Annuities with living benefit riders in 2022 Actively repositioned the investment portfolio to enhance earnings by extending duration in 2023 Differentiated model delivers superior results Improved client retention and asset persistency Predictable free cash flow generation 18 Data as of June 30, 2026. Results exclude unlocking impacts which reflect the company's annual review of insurance and annuity valuation assumptions and model changes. © 2026 Ameriprise Financial, Inc. All rights reserved. Amidst backdrop of overall challenging industry conditions, Columbia Threadneedle has a solid foundation to build from $759B in Assets Under Management and Advisement Top 15 long-term mutual funds in the U.S. Top 10 player in model delivery in the U.S. Consistent track record of strong investment performance across asset classes Barron's Best Fund Families of 2025 - Top 10 for all periods, 1-,5- and 10-year performance 97 four- and five-star Morningstar-rated funds globally Continued strong equity franchise, fixed income, multi-asset and alternative capabilities Intense research focus, including Responsible Investment capabilities Expanded brand identity, recognition, and digital presence Strong relationships across broad range of distribution intermediaries, supplemented by important "anchor clients" that include Ameriprise and RiverSource Significant leverage between Asset Management and its affiliates Competitive margins and earnings Ongoing focus on disciplined expense management Data as of June 30, 2026. See appendix for source information. © 2026 Ameriprise Financial, Inc. All rights reserved. 19 Columbia Threadneedle is a scaled global player that is diversified across geographies, strategies and clients, and delivers competitive margins Assets Under Management & Advisement By Region By Asset Class $410 $305 $44 $44 $41 $32 $235 $407 By Client Type Adjusted $507 $208 $44 ($B) $759 ($B) $759 ($B) $759 Margin $126 $454 $454 $454 $260 $194 $328 $31 $7 $176 $240 2016 2026 2016 2026 2016 2026 2016 2026 North America International AUA Equity Fixed Retail Institutional AUA Alternatives Other AUA 35.1% 42.1% Asset data as of 12-31-16 or 6-30-26. Margin for 2016 represents full year 2016 and 2026 represents trailing 12-months through June 30, 2026 20 © 2026 Ameriprise Financial, Inc. All rights reserved. © 2026 Ameriprise Financial, Inc. All rights reserved. Attention: This is an excerpt of the original content. To continue reading it, access the original document here.

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