Page 1

Ameriprise Financial GAAP Ameriprise Financial Reports First Quarter 2021 Results Ameriprise Financial , Inc. Minneapolis , MN NYSE : AMP April 26 , 2021 Earnings Per Diluted Share Return on Equity , ex AOCI ( 1 ) Q1 2021 $ 3.58 $ 5.43 Q1 2021 GAAP ( 1.1 ) % Adjusted Operating 29.9 % • • • • • . • Adjusted Operating Ameriprise increased its quarterly dividend 9 percent to $ 1.13 per share First quarter adjusted operating earnings per diluted share was $ 5.43 . The prior year period included a tax benefit from a projected net operating loss ( NOL ) of $ 1.12 per diluted share . Excluding this impact , adjusted operating EPS increased 27 percent from $ 4.29 reflecting strong business growth . First quarter GAAP net income per diluted share was $ 3.58 , which was negatively impacted by market changes that affected the valuation of derivatives . In the prior year period , the severe market dislocation , steep interest rate reduction and credit spread widening related to COVID - 19 resulted in a substantial increase in GAAP results . See details on page 2 . • Adjusted operating net revenue was $ 3.3 billion , a 10 percent increase from strong organic growth , an excellent result in the face of significant headwinds from low short - term interest rates . General and administrative expenses were well managed in light of business growth , up 7 percent . Excluding the impact of share price appreciation on compensation expense , G & A was up 2 percent . Assets under management and administration were up 36 percent to $ 1.14 trillion , a record high from strong client flows in Wealth and Asset Management , as well as market appreciation . The company continues to generate strong organic growth , with more than $ 14 billion of client net inflows from Advice & Wealth Management and Asset Management . The advisor network grew to 10,031 with 93 new experienced advisors joining the company in the quarter . Investment performance at Columbia Threadneedle Investments remains excellent with 103 funds with 4- and 5 - star Morningstar ratings . The company returned $ 491 million of capital to shareholders in the quarter and announced a 9 percent increase in its quarterly dividend to $ 1.13 per share . On April 12 , Ameriprise announced the acquisition of BMO's EMEA Asset Management business for approximately $ 845 million in cash . This acquisition expands key capabilities in attractive and growing market segments where BMO EMEA Asset Management has leading positions . Perspective from Jim Cracchiolo , Chairman and Chief Executive Officer " Ameriprise delivered an excellent first quarter , building on our momentum from 2020. We continue to execute our strategy well , invest for business growth and deliver meaningful results . And , as economies reopen globally and activity increases , there's a large and growing opportunity to help more consumers and institutions achieve their goals . " Our priority is to deliver a differentiated client experience and reach more people through our leading advice value proposition at Ameriprise , as well as through the broad capabilities and perspective at Columbia Threadneedle . This consistent focus is resulting in strong organic growth , including generating more than $ 14 billion of client net inflows in the quarter . " As we recently announced , we will be complementing our growth with the strategic acquisition of BMO's EMEA asset management business . This will increase Columbia Threadneedle's presence in the European institutional market and expand our investment capabilities and solutions to meet growing client demand . - " With our consistent level of free - cash flow generation and financial strength , we were again able to increase our dividend another 9 percent – our 17th increase over the past 16 years - use cash for the acquisition and ensure our capital return plans are on track , all while maintaining our strong financial foundation . " ( 1 ) Return on equity excluding AOCI is calculated on a trailing 12 - month basis .