AMERIPRISE FINANCIAL INC

For the period ended Oct 29, 2026. Filed Oct 29, 2026.

About this filing

A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

Oct 29, 2026 · Filed Oct 29, 2026

Use the contents to explore the available documents and sections.

AMP$501.49-1.5%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

EX-99 · Credential Source

Credential Source

The 2027 Forbes Most Trusted Companies in America ranking was awarded by Forbes based on an evaluation of more than 2,000 U.S.-headquartered companies with at least 5,000 employees. Rankings were determined using more than 50 metrics across employee, customer, investor, and creditor trust. Survey data used in the evaluation covered a 12- to 18-month period ending August 2026, and financial, workforce, and creditor data were evaluated as of September 2026. Ameriprise did not pay a fee to be considered for the ranking but did pay a licensing fee to publicize the award. For more information, visit https://www.forbes.com/lists/most-trusted-companies.

Ameriprise Financial, Inc.
Consolidated GAAP Results
(in millions, except per share amounts, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Revenues
Management and financial advice fees	$3,230	$2,811	15%	$3,066	5%
Distribution fees	568	539	5%	573	(1)%
Net investment income	908	920	(1)%	893	2%
Premiums, policy and contract charges	355	493	(28)%	341	4%
Other revenues	130	130	—%	140	(7)%
Total revenues	5,191	4,893	6%	5,013	4%
Banking and deposit interest expense	74	102	27%	73	(1)%
Total net revenues	5,117	4,791	7%	4,940	4%
Expenses
Distribution expenses	1,955	1,714	(14)%	2,116	8%
Interest credited to fixed accounts	72	141	49%	169	57%
Benefits, claims, losses and settlement expenses	302	343	12%	294	(3)%
Remeasurement (gains) losses of future policy benefit reserves	32	22	(45)%	1	NM
Change in fair value of market risk benefits	202	302	33%	(229)	NM
Amortization of deferred acquisition costs	62	60	(3)%	61	(2)%
Interest and debt expense	83	84	1%	84	1%
General and administrative expense	982	951	(3)%	1,002	2%
Total expenses	3,690	3,617	(2)%	3,498	(5)%
Pretax income	1,427	1,174	22%	1,442	(1)%
Income tax provision	301	262	(15)%	329	9%
Net income	$1,126	$912	23%	$1,113	1%
Earnings per share
Basic earnings per share	$12.47	$9.47		$12.12
Earnings per diluted share	$12.32	$9.33		$11.98
Weighted average common shares outstanding
Basic	90.3	96.3		91.8
Diluted	91.4	97.8		92.9
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Consolidated Highlights and Capital Summary
(in millions unless otherwise noted, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Assets Under Management, Administration and Advisement
Advice & Wealth Management AUM	$725,204	$646,382	12%	$727,679	—%
Asset Management AUM	692,014	674,720	3%	714,809	(3)%
Corporate AUM	1,330	774	72%	1,191	12%
Eliminations	(44,314)	(47,812)	7%	(47,667)	7%
Assets Under Management	1,374,234	1,274,064	8%	1,396,012	(2)%
Assets Under Administration	362,972	347,923	4%	374,615	(3)%
Assets Under Advisement (net of eliminations) (1)	47,336	37,522	26%	41,991	13%
Total Assets Under Management, Administration and Advisement	$1,784,542	$1,659,509	8%	$1,812,618	(2)%
Daily average	7,620	6,427	19%	7,267	5%
Period end	7,652	6,688	14%	7,499	2%
Weighted Equity Index (WEI) (2)
Daily average	4,820	4,055	19%	4,603	5%
Period end	4,800	4,210	14%	4,753	1%
Common shares
Beginning balance	88.4	94.4	(6)%	90.1	(2)%
Repurchases	(1.6)	(1.4)	(14)%	(1.7)	6%
Issuances	0.3	0.2	50%	0.1	NM
Other	(0.1)	(0.1)	—%	(0.1)	—%
Total common shares outstanding	87.0	93.1	(7)%	88.4	(2)%
Restricted stock units	2.4	2.4	—%	2.4	—%
Total basic common shares outstanding	89.4	95.5	(6)%	90.8	(2)%
Total potentially dilutive shares	1.0	1.5	(33)%	1.1	(9)%
Total diluted shares	90.4	97.0	(7)%	91.9	(2)%
Capital Returned to Shareholders
Dividends paid	$155	$155	—%	$158	(2)%
Common stock share repurchases	871	687	27%	774	13%
Total Capital Returned to Shareholders	$1,026	$842	22%	$932	10%
(1) Assets reported on a one quarter lag.
(2) Weighted Equity Index is an Ameriprise calculated proxy for equity market movements calculated using a weighted average of the S&P 500, Russell 2000, Russell Midcap and MSCI EAFE indices based on North America distributed equity assets.
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Advice & Wealth Management Segment Adjusted Operating Results
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Revenues
Management and financial advice fees:
Advisory fees	$1,965	$1,664	18%	$1,859	6%
Financial planning fees	145	120	21%	126	15%
Transaction and other fees	105	102	3%	105	—%
Total management and financial advice fees	2,215	1,886	17%	2,090	6%
Distribution fees:
Mutual funds	247	227	9%	244	1%
Insurance and annuity	280	268	4%	281	—%
Off-Balance sheet brokerage cash	18	21	(14)%	21	(14)%
Other products	136	126	8%	138	(1)%
Total distribution fees	681	642	6%	684	—%
Net investment income	461	485	(5)%	455	1%
Other revenues	88	79	11%	90	(2)%
Total revenues	3,445	3,092	11%	3,319	4%
Banking and deposit interest expense	74	102	27%	73	(1)%
Adjusted operating total net revenues	3,371	2,990	13%	3,246	4%
Expenses
Distribution expenses	1,911	1,656	(15)%	1,829	(4)%
Interest and debt expense	16	14	(14)%	15	(7)%
General and administrative expense	455	439	(4)%	463	2%
Adjusted operating expenses	2,382	2,109	(13)%	2,307	(3)%
Pretax adjusted operating earnings	$989	$881	12%	$939	5%
Pretax adjusted operating margin	29.3%	29.5%		28.9%

Ameriprise Financial, Inc.
Advice & Wealth Management Segment Operating Metrics
(in millions unless otherwise noted, unaudited) · 3 Qtr 2026 · 3 Qtr 2025 · % Better/(Worse) · 2 Qtr 2026 · % Better/(Worse)
AWM Total Client Assets	$1,230,948		$1,138,392	8%	$1,247,579	(1)%
Total Client Flows	$(8,458)	$3,442	NM	$3,053	NM
Total Wrap Accounts
Beginning assets	$731,500	$615,189	19%	$664,167	10%
Net flows	4,848	4,769	2%	6,935	(30)%
Market appreciation (depreciation) and other	(7,459)	30,344	NM	60,398	NM
Total wrap ending assets	$728,889	$650,302	12%	$731,500	—%
Advisory wrap account assets ending balance (1)	$722,991	$644,436	12%	$725,486	—%
Average advisory wrap account assets(2)	$728,121	$618,236	18%	$694,038	5%
AWM Cash Balances
On-balance sheet (Net Investment Income)
On-balance sheet - bank	$23,606	$22,593	4%	$23,940	(1)%
On-balance sheet - certificate	7,347	8,936	(18)%	7,381	—%
On-balance sheet - broker dealer	2,372	2,119	12%	2,423	(2)%
Total on-balance sheet	33,325	33,648	(1)%	33,744	(1)%
Off-balance sheet (Distribution Fees)
Off-balance sheet - broker dealer	2,136	3,216	(34)%	3,486	(39)%
Total AWM Cash Balances	$35,461	$36,864	(4)%	$37,230	(5)%
Bank - Net Investment Income
Average interest-bearing assets	$25,290	$23,986	5%	$25,209	—%
Gross fee yield (3)	4.61%	4.67%		4.67%
Certificates - Net Investment Income
Average interest-bearing assets	$7,824	$10,038	(22)%	$7,873	(1)%
Gross fee yield (3)	4.52%	5.00%		4.57%
Other - Net Investment Income
Average interest-bearing assets	$6,236	$5,176	20%	$5,685	10%
Gross fee yield (3)	5.15%	5.90%		5.38%
Off-balance sheet - broker dealer - Distribution Fees
Average balances	$2,846	$3,297	(14)%	$3,735	(24)%
Net fee yield	2.47%	2.51%		2.24%
(1) Advisory wrap account assets represent those assets for which clients receive advisory services and are the primary driver of revenue earned on wrap accounts. Clients may hold non-advisory investments in their wrap accounts that do not incur an advisory fee.
(2) Average advisory wrap account assets are calculated using an average of the prior period’s ending balance and all months in the current period excluding the most recent month for the three months ended in each reflected period which is reflective of our billing cycle.
(3) Gross fee yield is calculated using amortized cost of investments.
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Asset Management Segment Adjusted Operating Results
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Revenues
Management and financial advice fees:
Asset management fees:
Retail	$617	$557	11%	$597	3%
Institutional	162	140	16%	149	9%
Model delivery	30	24	25%	27	11%
Transaction and other fees	58	52	12%	54	7%
Revenue from other sources (1)	2	2	—%	3	(33)%
Total management and financial advice fees	869	775	12%	830	5%
Distribution fees:
Mutual funds	67	58	16%	65	3%
Insurance and annuity	40	40	—%	40	—%
Total distribution fees	107	98	9%	105	2%
Net investment income	8	26	(69)%	7	14%
Other revenues	6	7	(14)%	5	20%
Total revenues	990	906	9%	947	5%
Banking and deposit interest expense	—	—	—%	—	—%
Adjusted operating total net revenues	990	906	9%	947	5%
Expenses
Distribution expenses	282	254	(11)%	270	(4)%
Amortization of deferred acquisition costs	2	2	—%	1	NM
Interest and debt expense	4	3	(33)%	4	—%
General and administrative expense	394	387	(2)%	398	1%
Adjusted operating expenses	682	646	(6)%	673	(1)%
Pretax adjusted operating earnings	$308	$260	18%	$274	12%
Net Pretax Adjusted Operating Margin Reconciliation
Adjusted operating total net revenues	$990	$906	9%	$947	5%
Distribution pass through revenues	(223)	(202)	(10)%	(215)	(4)%
Subadvisory and other pass through revenues	(100)	(112)	11%	(97)	(3)%
Net adjusted operating revenues	667	592	13%	635	5%
Pretax adjusted operating earnings	$308	$260	18%	$274	12%
Adjusted operating net investment income	(8)	(26)	69%	(7)	(14)%
Amortization of intangibles	5	15	(67)%	4	25%
Net adjusted operating earnings	$305	$249	22%	$271	13%
Pretax adjusted operating margin	31.1%	28.7%		28.9%
Net pretax adjusted operating margin (2)	45.7%	42.1%		42.7%
Total Performance fees (3)
Performance fees	$10	$2	NM	$1	NM
General and administrative expense related to performance fees	6	—	—%	1	NM
Net performance fees	$4	$2	NM	$—	—%
(1) Includes revenue from separate accounts that qualify as investment contracts under insurance accounting standards.
(2) Calculated as net adjusted operating earnings as a percentage of net adjusted operating revenues.
(3) Performance fees do not include CLO incentive fees.
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Asset Management Segment Operating Metrics
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Managed Assets Rollforward
Global Retail Funds
Beginning assets	$410,052	$361,696	13%	$368,234	11%
Inflows	14,079	14,762	(5)%	17,101	(18)%
Outflows	(18,362)	(17,593)	(4)%	(19,526)	6%
Net VP/VIT fund flows	(1,824)	(1,760)	(4)%	(1,731)	(5)%
Net new flows	(6,107)	(4,591)	(33)%	(4,156)	(47)%
Reinvested dividends	1,725	1,684	2%	2,755	(37)%
Net flows	(4,382)	(2,907)	(51)%	(1,401)	NM
Distributions	(1,805)	(1,808)	—%	(3,004)	40%
Market appreciation (depreciation) and other	(3,872)	22,760	NM	46,208	NM
Foreign currency translation (1)	(22)	(1,435)	98%	15	NM
Total ending assets	399,971	378,306	6%	410,052	(2)%
% of total retail assets sub-advised	12.9%	13.2%		13.6%
Global Institutional
Beginning assets	304,757	292,528	4%	293,388	4%
Inflows (2)	11,513	9,156	26%	12,957	(11)%
Outflows (2)	(17,931)	(11,421)	(57)%	(18,044)	1%
Net flows	(6,418)	(2,265)	NM	(5,087)	(26)%
Market appreciation (depreciation) and other (3)	(6,161)	8,975	NM	16,226	NM
Foreign currency translation (1)	(135)	(2,824)	95%	230	NM
Total ending assets	292,043	296,414	(1)%	304,757	(4)%
Total managed assets	$692,014	$674,720	3%	$714,809	(3)%
Total Assets Under Advisement (4)	50,539	39,443	28%	44,594	13%
Total Assets Under Management & Advisement	$742,553	$714,163	4%	$759,403	(2)%
Total AUM net flows	$(10,800)	$(5,172)	NM	$(6,488)	(66)%
Model delivery AUA flows (5)	1,483	1,731	(14)%	17	NM
Total AUM and AUA Flows (5)	$(9,317)	$(3,441)	NM	$(6,471)	(44)%
Legacy insurance partners flows	$(954)	$(903)	(6)%	$71	NM
(1) Amounts represent local currency to U.S. dollar translation for reporting purposes.
(2) Global Institutional inflows and outflows include net flows from our RiverSource Structured Annuity product and Ameriprise Bank, FSB.
(3) Included in Market appreciation (depreciation) and other for Global Institutional is the change in affiliated general account balance excluding net flows related to our Structured Annuity product and Ameriprise Bank, FSB.
(4) Assets are presented on a one-quarter lag.
(5) AUA flows are estimated flows based on the period-to-period change in assets less calculated performance based on strategy returns on a one-quarter lag.
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Asset Management Segment Operating Metrics
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Total Managed Assets by Type
Equity	$399,308	$368,610	8%	$406,936	(2)%
Fixed income	220,369	234,682	(6)%	234,637	(6)%
Money market	21,424	21,545	(1)%	21,896	(2)%
Alternative	31,562	29,281	8%	31,936	(1)%
Hybrid and other	19,351	20,602	(6)%	19,404	—%
Total managed assets by type	$692,014	$674,720	3%	$714,809	(3)%
Average Managed Assets by Type (1)
Equity	$404,076	$358,062	13%	$389,304	4%
Fixed income	229,423	232,013	(1)%	235,958	(3)%
Money market	22,055	21,922	1%	22,425	(2)%
Alternative	31,932	28,644	11%	31,040	3%
Hybrid and other	19,554	20,106	(3)%	19,477	—%
Total average managed assets by type	$707,040	$660,747	7%	$698,204	1%
(1) Average ending balances are calculated using the average of the prior period’s ending balance and all months in the current period.

Ameriprise Financial, Inc.
Asset Management Segment Performance Metrics
	3 Qtr 2026
Retail Fund Rankings in Top 2 Quartiles or Above Index Benchmark - Asset Weighted	1 year	3 year	5 year	10 year
Equity	56%	78%	77%	87%
Fixed Income	32%	78%	57%	86%
Asset Allocation	34%	81%	76%	85%
4- or 5-star Morningstar rated funds	Overall	3 year	5 year	10 year
Number of Rated Funds	92	80	68	77
Retail Fund performance rankings for each fund are measured on a consistent basis against the most appropriate peer group or index. Peer groupings of Columbia funds are defined by Lipper category and are based on the Primary Share Class (i.e., Institutional if available, otherwise Institutional 3 share class), net of fees. Peer groupings of Threadneedle are defined by either IA or Morningstar index and are based on Primary Share Class. Comparisons to Index are measured Gross of Fees. To calculate asset weighted performance, the sum of the total assets of the funds with above median ranking are divided by total assets of all funds. Funds with more assets will receive a greater share of the total percentage above or below median. Aggregated Asset Allocation Funds may include funds that invest in other Columbia or Threadneedle branded mutual funds included in both equity and fixed income. Morningstar as of 09/30/26. Columbia funds are available for purchase by U.S. customers. Out of 85 Columbia funds rated (based on primary share class), 5 received a 5-star Overall Rating and 38 received a 4-star Overall Rating. Out of 128 Threadneedle funds rated (based on highest-rated share class), 13 received a 5-star Overall Rating and 36 received a 4-star Overall Rating. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics. Not all funds are available in all jurisdictions, to all investors or through all firms. © 2026 Morningstar. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Ameriprise Financial, Inc.
Retirement & Protection Solutions Segment Adjusted Operating Results
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Revenues
Management and financial advice fees	$191	$192	(1)%	$190	1%
Distribution fees	107	105	2%	107	—%
Net investment income	364	326	12%	347	5%
Premiums, policy and contract charges	334	479	(30)%	330	1%
Other revenues	1	—	—%	1	—%
Total revenues	997	1,102	(10)%	975	2%
Banking and deposit interest expense	—	—	—%	—	—%
Adjusted operating total net revenues	997	1,102	(10)%	975	2%
Expenses
Distribution expenses	141	134	(5)%	139	(1)%
Interest credited to fixed accounts	104	95	(9)%	94	(11)%
Benefits, claims, losses and settlement expenses	249	256	3%	234	(6)%
Remeasurement (gains) losses of future policy benefit reserves	(1)	(9)	(89)%	(3)	(67)%
Change in fair value of market risk benefits	219	257	15%	162	(35)%
Amortization of deferred acquisition costs	59	56	(5)%	58	(2)%
Interest and debt expense	9	11	18%	10	10%
General and administrative expense	85	85	—%	79	(8)%
Adjusted operating expenses	865	885	2%	773	(12)%
Pretax adjusted operating earnings	$132	$217	(39)%	$202	(35)%

Ameriprise Financial, Inc.
Retirement & Protection Solutions Segment Operating Metrics
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Variable Annuities Rollforwards
Beginning balance	$94,401	$87,840	7%	$88,115	7%
Deposits	1,607	1,256	28%	1,504	7%
Withdrawals and terminations	(2,926)	(2,387)	(23)%	(2,718)	(8)%
Net flows	(1,319)	(1,131)	(17)%	(1,214)	(9)%
Investment performance and interest credited	(324)	4,241	NM	7,500	NM
Total ending balance - contract accumulation values	$92,758	$90,950	2%	$94,401	(2)%
Variable annuities fixed sub-accounts	$3,301	$3,493	(5)%	$3,318	(1)%
Life Insurance In Force	$196,158	$197,593	(1)%	$196,774	—%
Net Amount at Risk (Life)	$36,759	$37,241	(1)%	$36,451	1%
Net Policyholder Reserves
VUL/UL	$18,275	$17,144	7%	$18,438	(1)%
Term and whole life	145	168	(14)%	158	(8)%
Disability insurance	396	457	(13)%	426	(7)%
Other insurance	462	488	(5)%	466	(1)%
Total net policyholder reserves	$19,278	$18,257	6%	$19,488	(1)%
DAC Ending Balances
Variable Annuities DAC	$1,621	$1,646	(2)%	$1,626	—%
Life and Health DAC	$939	$946	(1)%	$940	—%
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Corporate Segment Adjusted Operating Results
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Corporate Excluding Long Term Care and Fixed Annuities Adjusted Operating Income Statements
Revenues
Management and financial advice fees	$—	$—	—%	$—	—%
Distribution fees	—	—	—%	—	—%
Net investment income	(1)	(7)	86%	2	NM
Premiums, policy and contract charges	—	—	—%	—	—%
Other revenues	2	2	—%	2	—%
Total revenues	1	(5)	NM	4	(75)%
Banking and deposit interest expense	7	9	22%	4	(75)%
Adjusted operating total net revenues	(6)	(14)	57%	—	—%
Expenses
Distribution expenses	—	—	—%	—	—%
Interest credited to fixed accounts	—	—	—%	—	—%
Benefits, claims, losses and settlement expenses	—	—	—%	—	—%
Remeasurement (gains) losses of future policy benefit reserves	—	—	—%	—	—%
Change in fair value of market risk benefits	—	—	—%	—	—%
Amortization of deferred acquisition costs	—	—	—%	—	—%
Interest and debt expense	29	23	(26)%	24	(21)%
General and administrative expense	57	50	(14)%	53	(8)%
Adjusted operating expenses	86	73	(18)%	77	(12)%
Pretax adjusted operating earnings (loss)	$(92)	$(87)	(6)%	$(77)	(19)%
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Corporate Segment Adjusted Operating Results and Metrics
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Long Term Care Adjusted Operating Income Statements
Revenues
Management and financial advice fees	$—	$—	—%	$—	—%
Distribution fees	—	—	—%	—	—%
Net investment income	45	47	(4)%	44	2%
Premiums, policy and contract charges	22	22	—%	21	5%
Other revenues	—	—	—%	—	—%
Total revenues	67	69	(3)%	65	3%
Banking and deposit interest expense	—	—	—%	—	—%
Adjusted operating total net revenues	67	69	(3)%	65	3%
Expenses
Distribution expenses	(2)	(2)	—%	(4)	(50)%
Interest credited to fixed accounts	—	—	—%	—	—%
Benefits, claims, losses and settlement expenses	53	53	—%	53	—%
Remeasurement (gains) losses of future policy benefit reserves	33	31	(6)%	4	NM
Change in fair value of market risk benefits	—	—	—%	—	—%
Amortization of deferred acquisition costs	—	—	—%	—	—%
Interest and debt expense	2	4	50%	2	—%
General and administrative expense	6	5	(20)%	6	—%
Adjusted operating expenses	92	91	(1)%	61	(51)%
Pretax adjusted operating earnings (loss)	$(25)	$(22)	(14)%	$4	NM
Long Term Care Policyholder Reserves, net of reinsurance	$2,437	$2,643	(8)%	$2,575	(5)%
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Corporate Segment Adjusted Operating Results
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Fixed Annuities Adjusted Operating Income Statements
Revenues
Management and financial advice fees	$—	$—	—%	$—	—%
Distribution fees	—	—	—%	—	—%
Net investment income	7	7	—%	7	—%
Premiums, policy and contract charges	—	—	—%	—	—%
Other revenues	37	42	(12)%	42	(12)%
Total revenues	44	49	(10)%	49	(10)%
Banking and deposit interest expense	—	—	—%	—	—%
Adjusted operating total net revenues	44	49	(10)%	49	(10)%
Expenses
Distribution expenses	1	—	—%	1	—%
Interest credited to fixed accounts	49	51	4%	50	2%
Benefits, claims, losses and settlement expenses	—	—	—%	1	NM
Remeasurement (gains) losses of future policy benefit reserves	—	—	—%	—	—%
Change in fair value of market risk benefits	—	—	—%	—	—%
Amortization of deferred acquisition costs	1	2	50%	2	50%
Interest and debt expense	—	—	—%	—	—%
General and administrative expense	2	3	33%	3	33%
Adjusted operating expenses	53	56	5%	57	7%
Pretax adjusted operating earnings (loss)	$(9)	$(7)	(29)%	$(8)	(13)%
NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.
Eliminations(1) Adjusted Operating Results
(in millions, unaudited)	3 Qtr 2026	3 Qtr 2025	% Better/(Worse)	2 Qtr 2026	% Better/(Worse)
Revenues
Management and financial advice fees	$(43)	$(41)	(5)%	$(42)	(2)%
Distribution fees	(327)	(306)	(7)%	(323)	(1)%
Net investment income	(19)	(23)	17%	(15)	(27)%
Premiums, policy and contract charges	(7)	(8)	13%	(7)	—%
Other revenues	1	—	—%	—	—%
Total revenues	(395)	(378)	(4)%	(387)	(2)%
Banking and deposit interest expense	(7)	(9)	(22)%	(4)	75%
Adjusted operating total net revenues	(388)	(369)	(5)%	(383)	(1)%
Expenses
Distribution expenses	(349)	(327)	7%	(343)	2%
Interest credited to fixed accounts	—	—	—%	—	—%
Benefits, claims, losses and settlement expenses	(4)	(8)	(50)%	(8)	(50)%
Remeasurement (gains) losses of future policy benefit reserves	—	—	—%	—	—%
Change in fair value of market risk benefits	(1)	—	—%	—	—%
Amortization of deferred acquisition costs	—	—	—%	—	—%
Interest and debt expense	(10)	(15)	(33)%	(12)	(17)%
General and administrative expense	(24)	(19)	26%	(20)	20%
Adjusted operating expenses	(388)	(369)	5%	(383)	1%
Pretax adjusted operating earnings (loss)	$—	$—	—%	$—	—%
(1) The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses.

Ameriprise Financial, Inc.
Capital Information
(in millions, unaudited)	September 30,2026	September 30,2025	June 30,2026
Long-term Debt Summary
Senior notes (1)	$3,350	$3,100	$3,850
Finance lease liabilities	—	1	—
Other (2)	(26)	(24)	(27)
Total Ameriprise Financial long-term debt	3,324	3,077	3,823
Non-recourse debt of consolidated investment entities	2,468	2,607	2,509
Total long-term debt	$5,792	$5,684	$6,332
Total Ameriprise Financial long-term debt	$3,324	$3,077	$3,823
Finance lease liabilities	—	(1)	—
Other (2)	26	24	27
Total Ameriprise Financial long-term debt excluding finance lease liabilities and other	$3,350	$3,100	$3,850
Total equity (3)	$5,110	$6,455	$6,366
Equity of consolidated investment entities	(1)	(1)	(1)
Total equity excluding CIEs	$5,109	$6,454	$6,365
Total Ameriprise Financial capital	$8,434	$9,532	$10,189
Total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs	$8,459	$9,554	$10,215
Debt to capital (1)
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital	39.4%	32.3%	37.5%
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs (3)	39.6%	32.4%	37.7%
(1) June 30, 2026 long-term debt balances reflect debt issued to prefund an upcoming $500 million debt maturity.
(2) Includes adjustments for net unamortized discounts, debt issuance costs and other lease obligations.
(3) Includes accumulated other comprehensive income, net of tax.

Ameriprise Financial, Inc.
Consolidated Balance Sheets
(in millions, unaudited)	September 30,2026	December 31,2025
Assets
Cash and cash equivalents	$9,172	$9,953
Cash of consolidated investment entities	102	150
Investments	58,134	58,406
Investments of consolidated investment entities	2,436	2,618
Market risk benefits	2,648	2,274
Separate account assets	78,275	80,044
Receivables	15,677	14,920
Receivables of consolidated investment entities	41	30
Deferred acquisition costs	2,598	2,625
Restricted and segregated cash and investments	793	1,055
Other assets	21,474	18,829
Other assets of consolidated investment entities	—	—
Total Assets	$191,350	$190,904
Liabilities
Policyholder account balances, future policy benefits and claims	$49,554	$46,498
Market risk benefits	818	1,182
Separate account liabilities	78,275	80,044
Customer deposits	33,317	33,750
Short-term borrowings	200	200
Long-term debt	3,324	3,077
Debt of consolidated investment entities	2,468	2,585
Accounts payable and accrued expenses	3,091	2,982
Other liabilities	15,135	13,878
Other liabilities of consolidated investment entities	58	159
Total Liabilities	186,240	184,355
Equity
Ameriprise Financial
Common shares ($.01 par)	3	3
Additional paid-in capital	10,587	10,377
Retained earnings	30,351	27,662
Treasury stock	(33,189)	(30,601)
Accumulated other comprehensive income, net of tax	(2,642)	(892)
Total Equity	5,110	6,549
Total Liabilities and Equity	$191,350	$190,904

Ameriprise Financial, Inc.
Reconciliation Table: Earnings
Quarter Ended September 30, · % Better/(Worse) · Per Diluted Share Quarter Ended September 30, · % Better/(Worse)
(in millions, except per share amounts, unaudited) · 2026 · 2025 · 2026 · 2025
Net income	$1,126	$912	23%	$12.32	$9.33	32%
Adjustments:
Net realized investment gains (losses) (1)	7	11		0.08	0.11
Market impact on non-traditional long-duration products (1)	128	(82)		1.40	(0.84)
Mean reversion-related impacts (1)	1	—		0.01	—
Integration/restructuring charges (1)	(11)	—		(0.12)	—
Net income (loss) attributable to consolidated investment entities	(1)	3		(0.01)	0.03
Tax effect of adjustments (2)	(27)	15		(0.30)	0.16
Adjusted operating earnings	$1,029	$965	7%	$11.26	$9.87	14%
Pretax impact of annual unlocking	(94)	(6)		(1.03)	(0.06)
Tax effect of annual unlocking (2)	20	1		0.22	0.01
Adjusted operating earnings, excluding unlocking	$1,103	$970	14%	$12.07	$9.92	22%
Weighted average common shares outstanding:
Basic	90.3	96.3
Diluted	91.4	97.8
(1) Pretax adjusted operating adjustment.
(2) Calculated using the statutory tax rate of 21%.

Ameriprise Financial, Inc.
Reconciliation Table: Earnings
Year-to-dateSeptember 30, · % Better/(Worse) · Per Diluted ShareYear-to-dateSeptember 30, · % Better/(Worse)
(in millions, except per share amounts, unaudited) · 2026 · 2025 · 2026 · 2025
Net income	$3,154	$2,555	23%	$33.95	$25.83	31%
Adjustments:
Net realized investment gains (losses) (1)	7	(9)		0.07	(0.09)
Market impact on non-traditional long-duration products (1)	50	(323)		0.54	(3.27)
Mean reversion-related impacts (1)	2	1		0.02	0.01
Integration/restructuring charges (1)	(12)	—		(0.13)	—
Net income (loss) attributable to consolidated investment entities	(3)	1		(0.03)	0.01
Tax effect of adjustments (2)	(11)	70		(0.12)	0.71
Adjusted operating earnings	$3,121	$2,815	11%	$33.60	$28.46	18%
Pretax impact of annual unlocking	(94)	(6)		(1.01)	(0.06)
Tax effect of annual unlocking (2)	20	1		0.22	0.01
Adjusted operating earnings, excluding unlocking	$3,195	$2,820	13%	$34.39	$28.51	21%
Weighted average common shares outstanding:
Basic	91.8	97.4
Diluted	92.9	98.9
(1) Pretax adjusted operating adjustment.
(2) Calculated using the statutory tax rate of 21%.

Ameriprise Financial, Inc.
Reconciliation Table: Pretax Adjusted Operating Earnings
	Quarter Ended September 30,
(in millions, unaudited)	2026	2025
Total net revenues	$5,117	$4,791
Adjustments:
Net realized investment gains (losses)	7	11
Market impact on non-traditional long-duration products	1	1
Mean Reversion related impacts	1	(1)
Revenues attributable to the CIEs	33	47
Adjusted operating total net revenues	$5,075	$4,733
Annual unlocking	1	120
Adjusted operating total net revenues, excluding unlocking	$5,074	$4,613
Total expenses	$3,690	$3,617
Adjustments:
Expenses attributable to the CIEs	34	44
Integration/restructuring charges	11	—
Market impact on non-traditional long-duration products	(127)	83
Mean reversion-related impacts	—	(1)
Adjusted operating expenses	$3,772	$3,491
Annual unlocking	95	126
Adjusted operating total net expenses, excluding unlocking	$3,677	$3,365
Pretax income	$1,427	$1,174
Pretax adjusted operating earnings	$1,303	$1,242
Pretax adjusted operating earnings, excluding unlocking	$1,397	$1,248
Pretax income margin	27.9%	24.5%
Pretax adjusted operating margin	25.7%	26.2%
Pretax adjusted operating margin, excluding unlocking	27.5%	27.1%

Ameriprise Financial, Inc.
Reconciliation Table: Effective Tax Rate
(in millions, unaudited)	GAAP	Adjusted Operating
Pretax income	$1,174	$1,242
Income tax provision	$262	$277
Effective tax rate	22.3%	22.3%

Ameriprise Financial, Inc.
Reconciliation Table: Effective Tax Rate
(in millions, unaudited)	GAAP	Adjusted Operating
Pretax income	$1,427	$1,303
Income tax provision	$301	$274
Effective tax rate	21.1%	21.0%

Ameriprise Financial, Inc.
Reconciliation Table: Return on Equity (ROE) Excluding AccumulatedOther Comprehensive Income “AOCI”
	Twelve Months Ended September 30,
(in millions, unaudited)	2026	2025
Net income	$4,162	$3,626
Less: Adjustments (1)	(2)	(136)
Adjusted operating earnings	$4,164	$3,762
Less: Annual unlocking (2)	(74)	(5)
Adjusted operating earnings, excluding unlocking	$4,238	$3,767
Total Ameriprise Financial, Inc. shareholders’ equity	$6,138	$5,781
Less: Accumulated other comprehensive income, net of tax	(1,397)	(1,347)
Total Ameriprise Financial, Inc. shareholders’ equity excluding AOCI	7,535	7,128
Less: Equity impacts attributable to the consolidated investment entities	(1)	—
Adjusted operating equity	$7,536	$7,128
Return on equity excluding AOCI	55.2%	50.9%
Adjusted operating return on equity, excluding AOCI (2)	55.3%	52.8%
Adjusted operating return on equity, excluding AOCI and unlocking (2)	56.2%	52.8%
(1) 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%.
(2) 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%.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.