Ameriprise Financial : Overview

Ameriprise Financial

May 2024

Forward-looking statements

The forward-looking statements in this presentation reflect management's expectations about future events, plans and performance. These forward-looking statements and the many assumptions upon which they are based involve risks and uncertainties. A list of factors that could cause actual results to be materially different from those expressed or implied by any of these forward-looking statements is detailed under the headings "Forward-Looking Statements" and "Risk Factors", and elsewhere, in our Annual Report on Form 10-K for the year ended December 31, 2023, and elsewhere in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. These forward-looking statements speak only as of today's date and we undertake no obligation to update publicly or revise them for any reason. For information about Ameriprise Financial, please refer to ir.ameriprise.com.

Non-GAAP Financial Measures

This presentation contains certain non-GAAP financial measures that our management feels best reflect the underlying performance of our operations. Reconciliations of such non-GAAP financial measures to the most directly comparable GAAP financial measure have been provided along with the presentation.

2

A diversified and differentiated

financial services leader

with a record of outperformance -

well-positioned to capture future growth

3

Ameriprise - diversified and fully integrated

Advice & Wealth

Management

		Industry-leading
Strong investment		wealth manager with		Important solutions
	differentiated advice
performance;		value proposition		meeting clients'
client-focused approach				evolving needs

$1.4T	Tripled EPS	~90% ongoing	~$20B returned	$1.5B	50.2% adjusted
in AUM/A	since 20141	free cash flow	to shareholders	excess capital	operating ROE,
		generation	since 2014		ex. AOCI1

Data as of 3-31-24.	4
1. Excludes Unlocking. Results beginning in Q1 2021 have been recast to reflect adoption of long duration targeted investments (LDTI).

One dynamic firm delivering significant value

Wealth	Global Asset
Management	Management

Columbia

Threadneedle

Investments

Advice

& Wealth

Management

Retirement &

Protection

Solutions

Benefits

Wealth management1 drives ~86% of the firm's revenue

Deep, long-term client relationships

Captures assets and fees across market cycles

Strong asset persistency

Leverage critical expertise and capabilities across all segments of AMP

Substantial free cash flow to reinvest for growth and return to shareholders

1. Represents AWM's advisor network given the linkages in our integrated model.

5

Continued progress in shifting our business mix given growth in Wealth Management

Pretax Adjusted Operating Earnings1

18%

38%

2014	31%	2024
$2.6B		$4.5B 17%

65%

31%

Advice & Wealth Management		Asset Management		Retirement & Protection Solutions

2024 represents trailing 12-months through 3-31-24.	6
1. Excludes Corporate & Other segment and unlocking. Results beginning in Q1 2021 have been recast to reflect adoption of long duration targeted investments (LDTI).

Advice & Wealth Management is delivering sustained profitable growth

A longstanding leader in financial planning and advice

Excellent client satisfaction

10,364

financial advisors

$942K trailing 12-month adjusted operating net revenue per advisor

Significant and sustainable benefit from Ameriprise Bank, FSB

Strong branded value proposition

Over 80% fee- based revenue

$954B in client assets, incl. $522B in wrap assets

Respected brand with deep client relationships

Data as of 3-31-24.

7

Recognized for our premium client experience and for managing our business responsibly

Ameriprise recognized as

#1 among wealth

managers in Kiplinger Readers' Choice Awards 2023

Ameriprise has been recognized by J.D. Power for providing "an outstanding customer service experience" for phone support for advisors for five consecutive years.

Ameriprise earned a 2023		Recognized among the
Hearts & Wallets Top		best-managed companies
PerformerTM recognition		of 2023 on The Wall
in "Understands me and		Street Journal
shares my values"		Management Top 250 list

of clients say their advisor

96% provided advice that addressed their needs

Clients rate Ameriprise

4.9 out of 5

in overall satisfaction

See source information in appendix.

8

Attractive and fast-growing market

$20M+ $10-$19.9M$5M-$9.9M $500k - $4.9M $100k - $499K <$100K

Households1

(in millions)

0.3

0.5

1.6

19.5

27.0

82.6

Investable assets1

($ in trillions)

$12

$7

$10

$6

$2

Investable assets2

CAGR 2016 - 2023

+7%

+4%

+8%

$26 +6% +3% +3%

U.S.

households with $500K+ in investable assets represent

88%

of the U.S.

wealth market

1. US Federal Reserve, Distributional Financial Accounts, Q4 2023
2. US Federal Reserve, Survey of Consumer Finances, 2016-2023

9

Within the opportunity, we are focused on investors with $500K-$5M and a Responsible Mindset

Who they are

Our primary target market is households with $500K-$5M

19.5 million households1

$26 trillion in financial assets2

Attractive growth trajectory

What they want

The Responsible Mindset investors in our target market that we are focused on want what we can provide.

What's important when thinking about working with a financial services company3

1	Having an advisor who is able to achieve better investment
performance than others
2	Having a relationship with an advisor you trust
3	Having an advisor who considers aspects of your personal
financial situation beyond investments
4	Having a relationship with a financial services company you trust
5	Having an advisor who contacts you regularly to discuss changes in
your financial situation or new opportunities for investments
6	Having an advisor who can help you create/update a detailed
financial plan

Source: 1 Survey of Consumer Finance, 2022 (most recently available, released triannually). 2 Federal Reserve - Distributional Financial Accounts; Survey of Consumer Finance; SBD Analysis. 3 Ameriprise Financial Market Segmentation, 2023. 10