Form 8-K

8-K — AMERIPRISE FINANCIAL INC

Accession: 0000820027-26-000038

Filed: 2026-07-23

Period: 2026-07-23

CIK: 0000820027

SIC: 6282 (INVESTMENT ADVICE)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — amp-20260723.htm (Primary)

EX-99.1 (q22026er.htm)

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XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: amp-20260723.htm · Sequence: 1

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0000820027false00008200272026-07-232026-07-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM

8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 23, 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) (Zip Code)

Registrant’s telephone number, including area code 612 671-3131

Former name or former address, if changed since last report:

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 (see 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:

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 Results of Operations and Financial Condition.

Ameriprise Financial, Inc. furnishes herewith, on Exhibit 99.1, an earnings release issued July 23, 2026 announcing its financial results for the second quarter of 2026.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

Exhibit 99.1

Earnings Release dated July 23, 2026 announcing financial results for the second quarter of 2026

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.

AMERIPRISE FINANCIAL, INC.

(Registrant)

Date: July 23, 2026 By: /s/ Walter S. Berman

Walter S. Berman

Executive Vice President and

Chief Financial Officer

EX-99.1

Filename: q22026er.htm · Sequence: 2

Document

Ameriprise Financial, Inc.

Minneapolis, MN

NYSE: AMP

July 23, 2026

Ameriprise Financial Reports

Second Quarter 2026 Results

Earnings Per Diluted Share

Return on Equity, ex AOCI (1)

Q2 2026

GAAP $11.98 GAAP 53.0%

Adjusted Operating

$11.07

Adjusted Operating

55.0%

•Second quarter adjusted operating earnings per diluted share increased 22 percent to $11.07, reflecting continued asset growth.

•Second quarter GAAP net income per diluted share was $11.98 compared to $10.73 a year ago, driven by continued asset growth offset by less favorable market impacts on the valuation of derivatives and market risk benefits than a year ago.

•Assets under management, administration and advisement grew to a record $1.8 trillion, up 14 percent.

•Adjusted operating net revenues increased 13 percent to

$4.9 billion primarily from asset growth and strong client engagement.

•Pretax adjusted operating margin was strong at 27 percent.

•Balance sheet fundamentals continued to be a core differentiator. The company generated and returned significant capital to shareholders with $932 million, or 91 percent of operating earnings, returned in the quarter.

•Return on equity remains distinguished in the industry at

55 percent(1).

•Ameriprise is accelerating AI adoption across the firm, including bringing advanced AI capabilities into advisors’ workflows while keeping human engagement and relationships at the center of advice.

•Fortune recognized Ameriprise Financial as one of America's Most Innovative Companies of 2026. Ameriprise Financial was recently recognized by TIME as one of America’s Best Companies of 2026, ranking in the top quartile.

Perspective from Jim Cracchiolo, Chairman and Chief Executive Officer

“Ameriprise again delivered strong growth and excellent financial performance, including a record level of firm-wide assets. The consistency of our results reflects the strength of our diversified business and disciplined execution.

Revenue and earnings increased by double digits, led by continued momentum in our fee-based wealth and asset management businesses.

Our ongoing investments are reinforcing our leadership in advice, wealth management solutions and our technology ecosystem, including our AI capabilities.

As we execute our strategy in the second half of the year, we remain focused on building on our excellent track record of innovation, disciplined execution and consistent value creation for Ameriprise clients, advisors and shareholders.“

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

Ameriprise Financial, Inc.

Second Quarter Summary

Quarter Ended

June 30,

% Better/

(Worse) Year-to-date

June 30, % Better/

(Worse)

(in millions, except per share amounts, unaudited) 2026 2025 2026 2025

GAAP net income $ 1,113 $ 1,060 5% $ 2,028 $ 1,643 23%

Adjusted operating earnings

(see reconciliation on p. 24 & 25)

$ 1,028 $ 900 14% $ 2,092 $ 1,850 13%

GAAP net income per diluted share $ 11.98 $ 10.73 12% $ 21.64 $ 16.53 31%

Adjusted operating earnings per diluted share

(see reconciliation on p. 24 & 25)

$ 11.07 $ 9.11 22% $ 22.33 $ 18.61 20%

GAAP Return on Equity, ex. AOCI 53.0 % 45.8 % 53.0 % 45.8 %

Adjusted Operating Return on Equity, ex. AOCI

(see reconciliation on p. 27)

55.0 % 51.5 % 55.0 % 51.5 %

Weighted average common shares outstanding:

Basic 91.8 97.4 92.6 97.9

Diluted 92.9 98.8 93.7 99.4

GAAP results in both the second quarter of 2025 and 2026 included favorable market impacts on the valuation of derivatives and market risk benefits, though the impact in the prior-year quarter was more favorable.

Ameriprise Financial, Inc.

Advice & Wealth Management Segment Adjusted Operating Results

Quarter Ended June 30, % Better/

(Worse)

(in millions, unaudited) 2026 2025

Adjusted operating net revenues $ 3,246 $ 2,807 16%

Distribution expenses 1,829 1,546 (18)%

Interest and debt expense 15 14 (7)%

General and administrative expenses 463 435 (6)%

Adjusted operating expenses

2,307 1,995 (16)%

Pretax adjusted operating earnings

$ 939 $ 812 16%

Pretax adjusted operating margin 28.9 % 28.9 % —

Quarter Ended June 30, % Better/

(Worse)

(in billions, unless otherwise noted) 2026 2025

Total client assets $ 1,248 $ 1,084 15%

Total client net flows $ 3.1 $ 4.3 (28)%

Wrap assets

$ 732 $ 615 19%

Wrap net flows $ 6.9 $ 5.4 28%

Cash sweep balances

$ 28.8 $ 27.4 5%

Adjusted operating net revenue per advisor (TTM in thousands) $ 1,203 $ 1,070 12%

Advice & Wealth Management generated strong performance with pretax adjusted operating earnings of $939 million, up 16 percent, with a margin of 28.9 percent. Core distribution earnings increased in the low-30 percent range, resulting from strong operating fundamentals and our focus on profitable growth.

Adjusted operating net revenues increased 16 percent to $3.2 billion, primarily driven by 15 percent growth in client assets. Strong wrap net inflows and market appreciation contributed to growth in fee-based revenues, while increased sales of annuity products and brokerage transactions drove strong transactional activity.

Adjusted operating expenses increased 16 percent to $2.3 billion, primarily driven by distribution expenses, which grew in line with advisor-driven revenues. General and administrative expenses increased $28 million to $463 million, primarily driven by volume-related expenses and investments for growth, including bank expansion, AI transformation and automation initiatives.

The company delivered strong asset growth and higher advisor productivity, reflecting the strength of the Ameriprise client experience and the company’s focus on industry-leading tools, solutions and support.

•Adjusted operating net revenue per advisor on a trailing 12-month basis reached a new high of $1.2 million, up 12 percent. The company added 79 experienced advisors in the quarter.

•Total client assets grew $164 billion, or 15 percent, to $1.2 trillion and wrap assets increased $116 billion, or 19 percent, to $732 billion driven by organic growth and market appreciation.

•Client flows were $3.1 billion and wrap flows were $6.9 billion in the quarter. This reflected strong underlying organic activity, partially offset by advisor departures, including Comerica terminations.

•Transactional activity increased 13 percent compared to the prior year.

•Cash sweep balances were $28.8 billion compared to $29.4 billion in the prior quarter, reflecting normal seasonal patterns.

•Bank assets increased 6 percent to $25.5 billion, with bank earnings up in the low-single digits percent.

Ameriprise Financial, Inc.

Asset Management Segment Adjusted Operating Results

Quarter Ended June 30, % Better/

(Worse)

(in millions, unaudited) 2026 2025

Adjusted operating net revenues $ 947 $ 830 14%

Distribution expenses 270 240 (13)%

Amortization of deferred acquisition costs 1 1 —%

Interest and debt expense 4 3 (33)%

General and administrative expenses 398 364 (9)%

Adjusted operating expenses 673 608 (11)%

Pretax adjusted operating earnings $ 274 $ 222 23%

Net pretax adjusted operating margin (1)

42.7 % 39.0 %

Quarter Ended June 30, % Better/

(Worse)

(in billions) 2026 2025

Assets Under Management and Advisement (2)

$ 759 $ 690 10%

Net Flows

Global Retail net AUM flows, ex. legacy insurance partners

$ (1.4) $ (3.5) 60%

Model delivery AUA flows (2)

— 0.4 NM

Total retail net AUM flows and model delivery AUA flows (2)

(1.4) (3.1) 55%

Global Institutional net AUM flows, ex. legacy insurance partners

(5.1) (4.8) (6)%

Legacy insurance partners AUM flows

— (0.8) NM

Total Net AUM and AUA flows (2)

$ (6.5) $ (8.7) 26%

(1) See reconciliation on page 13.

(2) 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.

NM Not Meaningful - variance equal to or greater than 100%

Asset Management adjusted operating net revenues were $947 million. Pretax adjusted operating earnings increased 23 percent to $274 million reflecting asset growth, including the benefit of strong performance in our Seligman technology strategies. Net pretax adjusted operating margin increased 370 basis points to 42.7 percent, reflecting our discipline in pursuing growth that enhances shareholder value. The underlying fee rate remained stable.

Adjusted operating expenses increased 11 percent. General and administrative expenses increased 9 percent driven by higher compensation expense for Seligman from AUM growth and performance, volume-related expenses and an unfavorable foreign exchange impact. We continue to demonstrate expense discipline, with full-year general and administrative expenses expected to be flat excluding Seligman and other performance fee compensation, while investing in opportunities to drive growth.

Assets under management and advisement increased 10 percent to $759 billion. Investment performance remained strong with 69 percent of retail funds above median versus peers on an asset-weighted basis for the 1-year period, 75 percent for the 3- and 5-year periods, and 87 percent for the 10-year period. In addition, 97 Columbia Threadneedle funds globally earned four- or five-star ratings from Morningstar.

Net outflows improved 26 percent to $6.5 billion.

•Retail and model delivery net outflows improved to $1.4 billion, primarily reflecting higher gross sales in the U.S. and EMEA.

•Institutional net outflows were $5.1 billion.

•Flows from legacy insurance partners improved and were flat.

Ameriprise Financial, Inc.

Retirement & Protection Solutions Segment Adjusted Operating Results

Quarter Ended June 30, % Better/

(Worse)

(in millions, unaudited) 2026 2025

Adjusted operating net revenues $ 975 $ 936 4%

Adjusted operating expenses 773 722 (7)%

Pretax adjusted operating earnings $ 202 $ 214 (6)%

Retirement & Protection Solutions pretax adjusted operating earnings were $202 million, consistent with our target range.

Retirement & Protection Solutions sales increased 20 percent to $1.6 billion, with continued strong client demand for structured variable annuities, variable annuities without living benefit riders and variable universal life insurance.

Our high-quality books of business continued to generate strong earnings, margins and free cash flow, while delivering excellent risk-adjusted returns and are an important contributor to our diversified business model.

Ameriprise Financial, Inc.

Corporate & Other Segment Adjusted Operating Results

Quarter Ended June 30, % Better/

(Worse)

(in millions, unaudited) 2026 2025

Corporate & Other $ (77) $ (100) 23%

Closed Blocks (1)

(4) 1 NM

Pretax adjusted operating earnings/(loss) $ (81) $ (99) 18%

Long Term Care $ 4 $ 7 (43)%

Fixed Annuities (8) (6) (33)%

Pretax adjusted operating earnings/(loss) $ (4) $ 1 NM

(1) Long Term Care and Fixed Annuities.

NM Not Meaningful - variance equal to or greater than 100%

Corporate & Other, excluding Closed Blocks pretax adjusted operating loss was $77 million. Results in the prior year period included the impact from acceleration of the firm’s transition to cloud-based technology platforms.

Long Term Care pretax adjusted operating earnings were $4 million in the quarter, a continuation of a solid performance trend.

Fixed Annuities pretax adjusted operating loss was in line with expectations at $8 million.

Taxes

The operating effective tax rate was 22.9 percent for the second quarter. The operating effective tax rate is expected to be 20 to 22 percent for the full year 2026.

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;

•statements concerning expected general and administrative expense for Asset Management;

•statements regarding the expected financial results for our Retirement and Protection Solutions segment;

•statements estimating the expected full year 2026 operating effective tax rate; 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, 2025 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-Q for the period ended June 30, 2026.

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

Fortune partnered with Statista to recognize America’s Most Innovative Companies for 2026 — U.S. companies that excel in developing innovative products, streamlining processes, and cultivating a forward-thinking corporate culture. Statista surveyed more than 30,000 U.S. employees and 3,000 experts in various fields and evaluated patent data. Surveys were conducted August through November 2025. Ameriprise did not pay a fee to be evaluated, but did pay a fee to publicly cite the results.

TIME magazine partnered with Statista to recognize America’s Best Companies, chosen based on an independent survey of roughly 217,000 U.S. employees. Eligible companies (those headquartered in the U.S. that generated over $100 million in revenue in 2024 or 2025) were evaluated across three key categories: employee satisfaction, revenue growth and sustainability transparency. The final ranking reflects the period from January 2026 to May 2026. Ameriprise did not pay a fee to be evaluated, but did pay a fee to publicly cite the results.

Ameriprise Financial, Inc.

Consolidated GAAP Results

(in millions, except per share amounts, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Revenues

Management and financial advice fees $ 3,066 $ 2,600 18% $ 2,944 4%

Distribution fees 573 502 14% 563 2%

Net investment income 893 891 —% 872 2%

Premiums, policy and contract charges 341 361 (6)% 341 —%

Other revenues 140 136 3% 166 (16)%

Total revenues 5,013 4,490 12% 4,886 3%

Banking and deposit interest expense 73 115 37% 74 1%

Total net revenues 4,940 4,375 13% 4,812 3%

Expenses

Distribution expenses 2,116 1,596 (33)% 1,773 (19)%

Interest credited to fixed accounts 169 95 (78)% 142 (19)%

Benefits, claims, losses and settlement expenses 294 257 (14)% 317 7%

Remeasurement (gains) losses of future policy benefit reserves 1 (3) NM (1) NM

Change in fair value of market risk benefits (229) (10) NM 378 NM

Amortization of deferred acquisition costs 61 60 (2)% 61 —%

Interest and debt expense 84 82 (2)% 80 (5)%

General and administrative expense 1,002 947 (6)% 918 (9)%

Total expenses 3,498 3,024 (16)% 3,668 5%

Pretax income 1,442 1,351 7% 1,144 26%

Income tax provision 329 291 (13)% 229 (44)%

Net income $ 1,113 $ 1,060 5% $ 915 22%

Earnings per share

Basic earnings per share $ 12.12 $ 10.88 $ 9.81

Earnings per diluted share $ 11.98 $ 10.73 $ 9.68

Weighted average common shares outstanding

Basic 91.8 97.4 93.3

Diluted 92.9 98.8 94.5

NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.

Consolidated Highlights and Capital Summary

(in millions unless otherwise noted, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Assets Under Management, Administration and Advisement

Advice & Wealth Management AUM $ 727,679 $ 611,333 19% $ 660,620 10%

Asset Management AUM 714,809 654,224 9% 661,622 8%

Corporate AUM 1,191 653 82% 1,011 18%

Eliminations (47,667) (46,255) (3)% (45,931) (4)%

Assets Under Management 1,396,012 1,219,955 14% 1,277,322 9%

Assets Under Administration 374,615 331,045 13% 348,708 7%

Assets Under Advisement (net of eliminations) (1)

41,991 33,767 24% 42,176 —%

Total Assets Under Management, Administration and Advisement $ 1,812,618 $ 1,584,767 14% $ 1,668,206 9%

S&P 500

Daily average 7,267 5,728 27% 6,816 7%

Period end 7,499 6,205 21% 6,529 15%

Weighted Equity Index (WEI) (2)

Daily average 4,603 3,638 27% 4,343 6%

Period end 4,753 3,921 21% 4,157 14%

Common shares

Beginning balance 90.1 95.5 (6)% 91.3 (1)%

Repurchases (1.7) (1.1) (55)% (1.6) (6)%

Issuances 0.1 — —% 0.6 (83)%

Other (0.1) — —% (0.2) 50%

Total common shares outstanding 88.4 94.4 (6)% 90.1 (2)%

Restricted stock units 2.4 2.4 —% 2.3 4%

Total basic common shares outstanding 90.8 96.8 (6)% 92.4 (2)%

Total potentially dilutive shares 1.1 1.5 (27)% 1.1 —%

Total diluted shares 91.9 98.3 (7)% 93.5 (2)%

Capital Returned to Shareholders

Dividends paid $ 158 $ 158 —% $ 152 4%

Common stock share repurchases 774 573 35% 784 (1)%

Total Capital Returned to Shareholders $ 932 $ 731 27% $ 936 —%

(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.

Ameriprise Financial, Inc.

Advice & Wealth Management Segment Adjusted Operating Results

(in millions, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Revenues

Management and financial advice fees:

Advisory fees $ 1,859 $ 1,517 23% $ 1,797 3%

Financial planning fees 126 120 5% 115 10%

Transaction and other fees 105 100 5% 99 6%

Total management and financial advice fees 2,090 1,737 20% 2,011 4%

Distribution fees:

Mutual funds 244 212 15% 237 3%

Insurance and annuity 281 258 9% 260 8%

Off-Balance sheet brokerage cash 21 25 (16)% 26 (19)%

Other products 138 108 28% 141 (2)%

Total distribution fees 684 603 13% 664 3%

Net investment income 455 496 (8)% 455 —%

Other revenues 90 86 5% 119 (24)%

Total revenues 3,319 2,922 14% 3,249 2%

Banking and deposit interest expense 73 115 37% 74 1%

Adjusted operating total net revenues 3,246 2,807 16% 3,175 2%

Expenses

Distribution expenses 1,829 1,546 (18)% 1,770 (3)%

Interest and debt expense 15 14 (7)% 15 —%

General and administrative expense 463 435 (6)% 439 (5)%

Adjusted operating expenses 2,307 1,995 (16)% 2,224 (4)%

Pretax adjusted operating earnings $ 939 $ 812 16% $ 951 (1)%

Pretax adjusted operating margin 28.9 % 28.9 % 30.0 %

Ameriprise Financial, Inc.

Advice & Wealth Management Segment Operating Metrics

(in millions unless otherwise noted, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

AWM Total Client Assets $ 1,247,579 $ 1,083,821 15% $ 1,148,514 9%

Total Client Flows $ 3,053 $ 4,281 (29)% $ 4,226 (28)%

Total Wrap Accounts

Beginning assets $ 664,167 $ 572,771 16% $ 670,361 (1)%

Net flows 6,935 5,378 29% 6,016 15%

Market appreciation (depreciation) and other 60,398 37,040 63% (12,210) NM

Total wrap ending assets $ 731,500 $ 615,189 19% $ 664,167 10%

Advisory wrap account assets ending balance (1)

$ 725,486 $ 609,486 19% $ 658,620 10%

Average advisory wrap account assets(2)

$ 694,038 $ 574,418 21% $ 676,290 3%

AWM Cash Balances

On-balance sheet (Net Investment Income)

On-balance sheet - bank $ 23,940 $ 22,497 6% $ 23,768 1%

On-balance sheet - certificate 7,381 9,892 (25)% 7,556 (2)%

On-balance sheet - broker dealer 2,423 2,187 11% 1,966 23%

Total on-balance sheet 33,744 34,576 (2)% 33,290 1%

Off-balance sheet (Distribution Fees)

Off-balance sheet - broker dealer 3,486 3,396 3% 4,669 (25)%

Total AWM Cash Balances $ 37,230 $ 37,972 (2)% $ 37,959 (2)%

Bank - Net Investment Income

Average interest-bearing assets $ 25,209 $ 24,194 4% $ 25,238 —%

Gross fee yield (3)

4.67 % 4.73 % 4.61 %

Certificates - Net Investment Income

Average interest-bearing assets $ 7,873 $ 11,009 (28)% $ 8,354 (6)%

Gross fee yield (3)

4.57 % 5.02 % 4.67 %

Other - Net Investment Income

Average interest-bearing assets $ 5,685 $ 4,863 17% $ 5,610 1%

Gross fee yield (3)

5.38 % 6.06 % 5.28 %

Off-balance sheet - broker dealer - Distribution Fees

Average balances $ 3,735 $ 3,752 —% $ 4,665 (20)%

Net fee yield 2.24 % 2.72 % 2.28 %

(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) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Revenues

Management and financial advice fees:

Asset management fees:

Retail $ 597 $ 515 16% $ 563 6%

Institutional 149 131 14% 145 3%

Model delivery 27 23 17% 27 —%

Transaction and other fees 54 50 8% 53 2%

Revenue from other sources (1)

3 2 50% 2 50%

Total management and financial advice fees 830 721 15% 790 5%

Distribution fees:

Mutual funds 65 53 23% 61 7%

Insurance and annuity 40 38 5% 39 3%

Total distribution fees 105 91 15% 100 5%

Net investment income 7 14 (50)% 14 (50)%

Other revenues 5 4 25% 6 (17)%

Total revenues 947 830 14% 910 4%

Banking and deposit interest expense — — —% — —%

Adjusted operating total net revenues 947 830 14% 910 4%

Expenses

Distribution expenses 270 240 (13)% 262 (3)%

Amortization of deferred acquisition costs 1 1 —% 2 50%

Interest and debt expense 4 3 (33)% 4 —%

General and administrative expense 398 364 (9)% 369 (8)%

Adjusted operating expenses 673 608 (11)% 637 (6)%

Pretax adjusted operating earnings $ 274 $ 222 23% $ 273 —%

Net Pretax Adjusted Operating Margin Reconciliation

Adjusted operating total net revenues $ 947 $ 830 14% $ 910 4%

Distribution pass through revenues (215) (190) (13)% (206) (4)%

Subadvisory and other pass through revenues (97) (99) 2% (103) 6%

Net adjusted operating revenues 635 541 17% 601 6%

Pretax adjusted operating earnings $ 274 $ 222 23% $ 273 —%

Adjusted operating net investment income (7) (14) 50% (14) 50%

Amortization of intangibles 4 3 33% 4 —%

Net adjusted operating earnings $ 271 $ 211 28% $ 263 3%

Pretax adjusted operating margin 28.9 % 26.7 % 30.0 %

Net pretax adjusted operating margin (2)

42.7 % 39.0 % 43.8 %

Total Performance fees (3)

Performance fees $ 1 $ 2 (50)% $ 4 (75)%

General and administrative expense related to performance fees 1 1 —% — —%

Net performance fees $ — $ 1 NM $ 4 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) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Managed Assets Rollforward

Global Retail Funds

Beginning assets $ 368,234 $ 340,353 8% $ 378,023 (3)%

Inflows 17,101 13,768 24% 17,088 —%

Outflows (19,526) (18,152) (8)% (20,721) 6%

Net VP/VIT fund flows (1,731) (1,567) (10)% (1,772) 2%

Net new flows (4,156) (5,951) 30% (5,405) 23%

Reinvested dividends 2,755 2,290 20% 1,216 NM

Net flows (1,401) (3,661) 62% (4,189) 67%

Distributions (3,004) (2,525) (19)% (1,291) NM

Market appreciation (depreciation) and other 46,208 23,343 98% (2,984) NM

Foreign currency translation (1)

15 4,186 (100)% (1,325) NM

Total ending assets 410,052 361,696 13% 368,234 11%

% of total retail assets sub-advised

13.6 % 14.3 % 13.7 %

Global Institutional

Beginning assets 293,388 281,025 4% 300,082 (2)%

Inflows (2)

12,957 10,103 28% 12,963 —%

Outflows (2)

(18,044) (15,621) (16)% (14,968) (21)%

Net flows (5,087) (5,518) 8% (2,005) NM

Market appreciation (depreciation) and other (3)

16,226 8,800 84% (2,151) NM

Foreign currency translation (1)

230 8,221 (97)% (2,538) NM

Total ending assets 304,757 292,528 4% 293,388 4%

Total managed assets $ 714,809 $ 654,224 9% $ 661,622 8%

Total Assets Under Advisement (4)

44,594 35,499 26% 44,485 —%

Total Assets Under Management & Advisement $ 759,403 $ 689,723 10% $ 706,107 8%

Total AUM net flows $ (6,488) $ (9,179) 29% $ (6,194) (5)%

Model delivery AUA flows (5)

17 422 (96)% 315 (95)%

Total AUM and AUA Flows (5)

$ (6,471) $ (8,757) 26% $ (5,879) (10)%

Legacy insurance partners flows $ 71 $ (850) NM $ (838) 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) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Total Managed Assets by Type

Equity $ 406,936 $ 351,184 16% $ 355,890 14%

Fixed income 234,637 232,840 1% 234,180 —%

Money market 21,896 22,309 (2)% 22,209 (1)%

Alternative 31,936 28,525 12% 29,592 8%

Hybrid and other 19,404 19,366 —% 19,751 (2)%

Total managed assets by type $ 714,809 $ 654,224 9% $ 661,622 8%

Average Managed Assets by Type (1)

Equity $ 389,304 $ 334,024 17% $ 373,343 4%

Fixed income 235,958 230,335 2% 236,101 —%

Money market 22,425 21,463 4% 22,061 2%

Alternative 31,040 28,054 11% 29,921 4%

Hybrid and other 19,477 18,914 3% 20,423 (5)%

Total average managed assets by type $ 698,204 $ 632,790 10% $ 681,849 2%

(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

2 Qtr 2026

Retail Fund Rankings in Top 2 Quartiles or Above Index Benchmark - Asset Weighted 1 year 3 year 5 year 10 year

Equity 74% 76% 79% 86%

Fixed Income 70% 82% 60% 93%

Asset Allocation 33% 58% 76% 87%

4- or 5-star Morningstar rated funds Overall 3 year 5 year 10 year

Number of Rated Funds 97 80 71 78

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 the 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 06/30/26. Columbia funds are available for purchase by U.S. customers. Out of 86 Columbia funds rated (based on primary share class), 4 received a 5-star Overall Rating and 38 received a 4-star Overall Rating. Out of 129 Threadneedle funds rated (based on highest-rated share class), 13 received a 5-star Overall Rating and 42 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) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Revenues

Management and financial advice fees $ 190 $ 183 4% $ 186 2%

Distribution fees 107 101 6% 103 4%

Net investment income 347 309 12% 336 3%

Premiums, policy and contract charges 330 342 (4)% 326 1%

Other revenues 1 1 —% 1 —%

Total revenues 975 936 4% 952 2%

Banking and deposit interest expense — — —% — —%

Adjusted operating total net revenues 975 936 4% 952 2%

Expenses

Distribution expenses 139 126 (10)% 132 (5)%

Interest credited to fixed accounts 94 93 (1)% 93 (1)%

Benefits, claims, losses and settlement expenses 234 209 (12)% 235 —%

Remeasurement (gains) losses of future policy benefit reserves (3) (7) (57)% (2) 50%

Change in fair value of market risk benefits 162 153 (6)% 155 (5)%

Amortization of deferred acquisition costs 58 58 —% 58 —%

Interest and debt expense 10 11 9% 10 —%

General and administrative expense 79 79 —% 81 2%

Adjusted operating expenses 773 722 (7)% 762 (1)%

Pretax adjusted operating earnings $ 202 $ 214 (6)% $ 190 6%

Ameriprise Financial, Inc.

Retirement & Protection Solutions Segment Operating Metrics

(in millions, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Variable Annuities Rollforwards

Beginning balance $ 88,115 $ 83,509 6% $ 91,296 (3)%

Deposits 1,504 1,243 21% 1,173 28%

Withdrawals and terminations (2,718) (2,191) (24)% (2,482) (10)%

Net flows (1,214) (948) (28)% (1,309) 7%

Investment performance and interest credited 7,500 5,279 42% (1,872) NM

Total ending balance - contract accumulation values $ 94,401 $ 87,840 7% $ 88,115 7%

Variable annuities fixed sub-accounts $ 3,318 $ 3,588 (8)% $ 3,344 (1)%

Life Insurance In Force $ 196,774 $ 197,825 (1)% $ 196,769 —%

Net Amount at Risk (Life) $ 36,451 $ 37,749 (3)% $ 37,277 (2)%

Net Policyholder Reserves

VUL/UL $ 18,438 $ 16,553 11% $ 17,104 8%

Term and whole life 158 168 (6)% 160 (1)%

Disability insurance 426 464 (8)% 432 (1)%

Other insurance 466 491 (5)% 471 (1)%

Total net policyholder reserves $ 19,488 $ 17,676 10% $ 18,167 7%

DAC Ending Balances

Variable Annuities DAC $ 1,626 $ 1,656 (2)% $ 1,629 —%

Life and Health DAC $ 940 $ 949 (1)% $ 942 —%

NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.

Corporate Segment Adjusted Operating Results

(in millions, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 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 2 3 (33)% (7) NM

Premiums, policy and contract charges — — —% — —%

Other revenues 2 2 —% 2 —%

Total revenues 4 5 (20)% (5) NM

Banking and deposit interest expense 4 8 50% 4 —%

Adjusted operating total net revenues — (3) NM (9) NM

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 24 23 (4)% 21 (14)%

General and administrative expense 53 74 28% 49 (8)%

Adjusted operating expenses 77 97 21% 70 (10)%

Pretax adjusted operating earnings (loss) $ (77) $ (100) 23% $ (79) 3%

Ameriprise Financial, Inc.

Corporate Segment Adjusted Operating Results and Metrics

(in millions, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Long Term Care Adjusted Operating Income Statements

Revenues

Management and financial advice fees $ — $ — —% $ — —%

Distribution fees — — —% — —%

Net investment income 44 45 (2)% 45 (2)%

Premiums, policy and contract charges 21 22 (5)% 21 —%

Other revenues — — —% — —%

Total revenues 65 67 (3)% 66 (2)%

Banking and deposit interest expense — — —% — —%

Adjusted operating total net revenues 65 67 (3)% 66 (2)%

Expenses

Distribution expenses (4) (4) —% (2) NM

Interest credited to fixed accounts — — —% — —%

Benefits, claims, losses and settlement expenses 53 52 (2)% 53 —%

Remeasurement (gains) losses of future policy benefit reserves 4 4 —% 1 NM

Change in fair value of market risk benefits — — —% — —%

Amortization of deferred acquisition costs — — —% — —%

Interest and debt expense 2 2 —% 2 —%

General and administrative expense 6 6 —% 5 (20)%

Adjusted operating expenses 61 60 (2)% 59 (3)%

Pretax adjusted operating earnings (loss) $ 4 $ 7 (43)% $ 7 (43)%

Long Term Care Policyholder Reserves, net of reinsurance $ 2,575 $ 2,574 —% $ 2,572 —%

NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.

Corporate Segment Adjusted Operating Results

(in millions, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Fixed Annuities Adjusted Operating Income Statements

Revenues

Management and financial advice fees $ — $ — —% $ — —%

Distribution fees — — —% — —%

Net investment income 7 8 (13)% 8 (13)%

Premiums, policy and contract charges — 1 NM 1 NM

Other revenues 42 43 (2)% 37 14%

Total revenues 49 52 (6)% 46 7%

Banking and deposit interest expense — — —% — —%

Adjusted operating total net revenues 49 52 (6)% 46 7%

Expenses

Distribution expenses 1 1 —% — —%

Interest credited to fixed accounts 50 51 2% 50 —%

Benefits, claims, losses and settlement expenses 1 1 —% — —%

Remeasurement (gains) losses of future policy benefit reserves — — —% — —%

Change in fair value of market risk benefits — — —% — —%

Amortization of deferred acquisition costs 2 1 NM 1 NM

Interest and debt expense — 1 NM 1 NM

General and administrative expense 3 3 —% 3 —%

Adjusted operating expenses 57 58 2% 55 (4)%

Pretax adjusted operating earnings (loss) $ (8) $ (6) (33)% $ (9) 11%

NM Not Meaningful - variance equal to or greater than 100%

Ameriprise Financial, Inc.

Eliminations(1) Adjusted Operating Results

(in millions, unaudited) 2 Qtr 2026 2 Qtr 2025 % Better/

(Worse) 1 Qtr 2026 % Better/

(Worse)

Revenues

Management and financial advice fees $ (42) $ (39) (8)% $ (41) (2)%

Distribution fees (323) (293) (10)% (304) (6)%

Net investment income (15) (21) 29% (17) 12%

Premiums, policy and contract charges (7) (9) 22% (8) 13%

Other revenues — — —% — —%

Total revenues (387) (362) (7)% (370) (5)%

Banking and deposit interest expense (4) (8) (50)% (4) —%

Adjusted operating total net revenues (383) (354) (8)% (366) (5)%

Expenses

Distribution expenses (343) (312) 10% (326) 5%

Interest credited to fixed accounts — — —% — —%

Benefits, claims, losses and settlement expenses (8) (2) NM (4) NM

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 (12) (14) (14)% (13) (8)%

General and administrative expense (20) (26) (23)% (23) (13)%

Adjusted operating expenses (383) (354) 8% (366) 5%

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) June 30,

2026 June 30,

2025 March 31,

2026

Long-term Debt Summary

Senior notes (1)

$ 3,850 $ 3,100 $ 3,100

Finance lease liabilities — 4 —

Other (2)

(27) (25) (21)

Total Ameriprise Financial long-term debt 3,823 3,079 3,079

Non-recourse debt of consolidated investment entities 2,509 2,726 2,535

Total long-term debt $ 6,332 $ 5,805 $ 5,614

Total Ameriprise Financial long-term debt $ 3,823 $ 3,079 $ 3,079

Finance lease liabilities — (4) —

Other (2)

27 25 21

Total Ameriprise Financial long-term debt excluding finance lease liabilities and other $ 3,850 $ 3,100 $ 3,100

Total equity (3)

$ 6,366 $ 6,082 $ 6,212

Equity of consolidated investment entities (1) (1) —

Total equity excluding CIEs $ 6,365 $ 6,081 $ 6,212

Total Ameriprise Financial capital $ 10,189 $ 9,161 $ 9,291

Total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs $ 10,215 $ 9,181 $ 9,312

Debt to capital (1)

Total Ameriprise Financial long-term debt to total Ameriprise Financial capital 37.5 % 33.6 % 33.1 %

Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding finance lease liabilities, other and equity of CIEs (3)

37.7 % 33.8 % 33.3 %

(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) June 30,

2026 December 31,

2025

Assets

Cash and cash equivalents $ 10,135 $ 9,953

Cash of consolidated investment entities 113 150

Investments 59,649 58,406

Investments of consolidated investment entities 2,494 2,618

Market risk benefits 2,386 2,274

Separate account assets 80,990 80,044

Receivables 15,986 14,920

Receivables of consolidated investment entities 44 30

Deferred acquisition costs 2,606 2,625

Restricted and segregated cash and investments 911 1,055

Other assets 22,557 18,829

Other assets of consolidated investment entities — —

Total Assets $ 197,871 $ 190,904

Liabilities

Policyholder account balances, future policy benefits and claims $ 49,199 $ 46,498

Market risk benefits 1,043 1,182

Separate account liabilities 80,990 80,044

Customer deposits 33,732 33,750

Short-term borrowings 200 200

Long-term debt 3,823 3,077

Debt of consolidated investment entities 2,509 2,585

Accounts payable and accrued expenses 2,897 2,982

Other liabilities 17,025 13,878

Other liabilities of consolidated investment entities 87 159

Total Liabilities 191,505 184,355

Equity

Ameriprise Financial

Common shares ($.01 par) 3 3

Additional paid-in capital 10,487 10,377

Retained earnings 29,380 27,662

Treasury stock (32,228) (30,601)

Accumulated other comprehensive income, net of tax (1,276) (892)

Total Equity 6,366 6,549

Total Liabilities and Equity $ 197,871 $ 190,904

Ameriprise Financial, Inc.

Reconciliation Table: Earnings

Quarter Ended June 30, % Better/

(Worse) Per Diluted Share

Quarter Ended

June 30, % Better/

(Worse)

(in millions, except per share amounts, unaudited) 2026 2025 2026 2025

Net income $ 1,113 $ 1,060 5% $ 11.98 $ 10.73 12%

Adjustments:

Net realized investment gains (losses) (1)

5 (18) 0.05 (0.18)

Market impact on non-traditional long-duration products (1)

106 219 1.14 2.22

Mean reversion-related impacts (1)

1 1 0.01 0.01

Integration/restructuring charges (1)

(1) — (0.01) —

Net income (loss) attributable to consolidated investment entities (2) — (0.02) —

Tax effect of adjustments (2)

(24) (42) (0.26) (0.43)

Adjusted operating earnings $ 1,028 $ 900 14% $ 11.07 $ 9.11 22%

Weighted average common shares outstanding:

Basic 91.8 97.4

Diluted 92.9 98.8

(1) Pretax adjusted operating adjustment.

(2) Calculated using the statutory tax rate of 21%.

Ameriprise Financial, Inc.

Reconciliation Table: Earnings

Year-to-date

June 30, % Better/

(Worse) Per Diluted Share

Year-to-date

June 30, % Better/

(Worse)

(in millions, except per share amounts, unaudited) 2026 2025 2026 2025

Net income $ 2,028 $ 1,643 23% $ 21.64 $ 16.53 31%

Adjustments:

Net realized investment gains (losses) (1)

— (20) — (0.20)

Market impact on non-traditional long-duration products (1)

(78) (241) (0.84) (2.42)

Mean reversion-related impacts (1)

1 1 0.01 0.01

Integration/restructuring charges (1)

(1) — (0.01) —

Net income (loss) attributable to consolidated investment entities (2) (2) (0.02) (0.02)

Tax effect of adjustments (2)

16 55 0.17 0.55

Adjusted operating earnings $ 2,092 $ 1,850 13% $ 22.33 $ 18.61 20%

Weighted average common shares outstanding:

Basic 92.6 97.9

Diluted 93.7 99.4

(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 June 30,

(in millions, unaudited) 2026 2025

Total net revenues $ 4,940 $ 4,375

Adjustments:

Net realized investment gains (losses) 5 (18)

Market impact on non-traditional long-duration products (3) 4

Mean Reversion related impacts — 1

Revenues attributable to the CIEs 39 53

Adjusted operating total net revenues $ 4,899 $ 4,335

Total expenses $ 3,498 $ 3,024

Adjustments:

Expenses attributable to the CIEs 42 53

Integration/restructuring charges 1 —

Market impact on non-traditional long-duration products (109) (215)

Mean reversion-related impacts (1) —

Adjusted operating expenses $ 3,565 $ 3,186

Pretax income $ 1,442 $ 1,351

Pretax adjusted operating earnings $ 1,334 $ 1,149

Pretax income margin 29.2 % 30.9 %

Pretax adjusted operating margin 27.2 % 26.5 %

Ameriprise Financial, Inc.

Reconciliation Table: Effective Tax Rate

Quarter Ended

June 30, 2025

(in millions, unaudited) GAAP Adjusted Operating

Pretax income $ 1,351 $ 1,149

Income tax provision $ 291 $ 249

Effective tax rate 21.6 % 21.7 %

Ameriprise Financial, Inc.

Reconciliation Table: Effective Tax Rate

Quarter Ended

June 30, 2026

(in millions, unaudited) GAAP Adjusted Operating

Pretax income $ 1,442 $ 1,334

Income tax provision $ 329 $ 306

Effective tax rate 22.8 % 22.9 %

Ameriprise Financial, Inc.

Reconciliation Table: Return on Equity (ROE) Excluding Accumulated

Other Comprehensive Income “AOCI”

Twelve Months Ended

June 30,

(in millions, unaudited) 2026 2025

Net income $ 3,948 $ 3,225

Less: Adjustments (1)

(152) (400)

Adjusted operating earnings $ 4,100 $ 3,625

Total Ameriprise Financial, Inc. shareholders’ equity $ 6,333 $ 5,489

Less: Accumulated other comprehensive income, net of tax (1,115) (1,551)

Total Ameriprise Financial, Inc. shareholders’ equity excluding AOCI 7,448 7,040

Less: Equity impacts attributable to the consolidated investment entities (1) (2)

Adjusted operating equity $ 7,449 $ 7,042

Return on equity excluding AOCI 53.0 % 45.8 %

Adjusted operating return on equity, excluding AOCI (2)

55.0 % 51.5 %

(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%.

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Document and Entity Information Document

Jul. 23, 2026

Document Information [Line Items]

Document Type

8-K

Entity Incorporation, State or Country Code

Entity File Number

001-32525

Entity Tax Identification Number

13-3180631

Entity Address, Address Line One

1099 Ameriprise Financial Center

Entity Address, City or Town

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Entity Address, Postal Zip Code

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Entity Registrant Name

AMERIPRISE FINANCIAL, INC.

City Area Code

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Local Phone Number

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Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

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Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

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No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

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No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

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No definition available.

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Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

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- Definition

Name of the state or province.

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No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

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Data Type:

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Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

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Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

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Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityRegistrantName

Namespace Prefix:

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

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Data Type:

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Period Type:

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- Definition

Local phone number for entity.

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No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

xbrli:normalizedStringItemType

Balance Type:

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duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Name:

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Namespace Prefix:

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Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

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Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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