Ameriprise Financial Investor Presentation — July 2020 - Ameriprise Financial

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Ameriprise Financial

Second Quarter 2020 Conference Call

2Some of the statements made in our July 29, 2020 earnings release and/or in this July 30, 2020

presentation constitute forward -looking statements. These statements reflect management's estimates,

plans, beliefs and expectations, and speak only as of July 30, 2020. These forward -looking statements

involve a number of risks and uncertainties.

A list of certain factors that could cause actual results to be materially different from those expressed or

implied by any of these forward -looking statements is set forth under the heading "Forward -looking

statements" in our July 29, 2020 earnings release, a complete copy of which is available on our website,

and under the heading "Risk Factors" and elsewhere in our Annual Report on Form 10 -K for the year ended

December 31, 2019 as well as our Quarterly Report on Form 10 -Q for the quarter ended March 31, 2020.

We undertake no obligation to update publicly or revise these forward -looking statements for any reason. In

addition, the financial results and values presented in our second quarter earnings release and/or in this

presentation are based upon asset valuations that represent estimates as of July 29, 2020 and may be

revised in our Form 10 -Q for the quarter ended June 30, 2020.

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 and can

be found on our website at www.ir.ameriprise.com.

3GAAP Q2 2020 Q2 2019 Over/(Under)

Net Revenues ($M) $2,712 $3,245 (16%)

Expenses ($M) $3,238 $2,658 (22%)

Net Income ($M) $(539) $492 NM

Diluted EPS $(4.31) $3.57 NM

ROE, ex. AOCI(1) 41.7% 33.1% 860 bps

Adjusted Operating Q2 2020 Q2 2019 (3) Over/(Under)

Net Revenues ($M) $2,765 $3,247 (15%)

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