Ameriprise Financial Investor Presentation — October 2020

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Ameriprise Financial

Third Quarter 2020 Conference Call

© 2020 Ameriprise Financial, Inc. All rights reserved.Forward- looking statements

2Some of the statements made in our October 28, 2020 earnings release and/or in this October 29, 2020 presentation constitute

forward -looking statements. These statements reflect management's estimates, plans, beliefs and expectations, and speak only

as of October 29, 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 t hese

forward -looking statements is set forth under the heading "Forward- looking statements" in our October 28, 2020 earnings

release, a complete copy of which is available on our website, and under the heading "Risk Factors" and elsewhere in our Annu al

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

June 30, 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 b ased

upon asset valuations that represent estimates as of October 28, 2020 and may be revised in our Form 10- Q for the quarter

ended September 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.

In the quarter, the Fixed Annuities business was moved to the Corporate & Other segment as a closed block. The remaining

Annuities and Protection business is now included in the new Retirement & Protection Solutions segment. Prior periods have been restated to reflect this change.

© 2020 Ameriprise Financial, Inc. All rights reserved.Consolidated results

3(1)Calculated on a trailing 12 month basis.

(2)Unlocking impacts reflect the company’s annual review of insurance and annuity valuation assumptions and model changes and the LTC gross premium valuation.

(3)Includes $298 million of revenue and $308 million of expense related to the Auto & Home business, which was sold on October 1, 2 019.

Excluding Auto & Home, net revenue declined 1% and expenses were flat.