8-K

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)  April 27, 2016

AMERIPRISE FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-32525	13-3180631
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

55 Ameriprise Financial Center Minneapolis, Minnesota	55474
(Address of principal executive offices)	(Zip Code)

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

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):

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02      Results of Operations and Financial Condition.

On April 27, 2016, Ameriprise Financial, Inc. (the “Company,” “we,” or “our”) issued a press release announcing its financial results for the first quarter of 2016.  A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference and furnished herewith. In addition, the Company furnishes herewith, as Exhibit 99.2, its Statistical Supplement for the quarterly period ended March 31, 2016.

We follow accounting principles generally accepted in the United States (“GAAP”). The press release furnished as Exhibit 99.1 and the financial information furnished as Exhibit 99.2 include information on both a GAAP and non-GAAP adjusted basis. Certain non-GAAP performance measures in these exhibits exclude the impact of consolidating certain investment entities (“CIEs”), as well as certain integration/restructuring charges, market impact on variable annuity guaranteed benefits, market impact on indexed universal life benefits, market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments, net realized investment gains (losses) and income (loss) from discontinued operations. Management believes that the presentation of these non-GAAP financial measures better reflects the underlying performance of our 2016 and 2015 core operations and facilitates a more meaningful trend analysis. Exhibits 99.1 and 99.2 also contain certain non-GAAP debt, capital and shareholders’ equity measures, along with financial ratios incorporating such measures that exclude amounts related to one or more of the following: accumulated other comprehensive income (“AOCI”), fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and the impact of consolidating the assets and liabilities of certain CIEs.  Management believes that these non-GAAP debt, capital and shareholders’ equity measures, and the corresponding ratios, better represent our capital structure.  Management uses certain of these non-GAAP measures to evaluate our financial performance on a basis comparable to that used by some securities analysts and investors. Also, certain of these non-GAAP measures are taken into consideration, to varying degrees, for purposes of business planning and analysis and for certain compensation-related matters.

Our non-GAAP financial measures included in Exhibits 99.1 and 99.2, which our management views as important indicators of financial performance, include the following: adjusted net pretax operating margin; adjusted operating earnings; adjusted operating revenues; Ameriprise Financial shareholders’ equity excluding AOCI; Ameriprise Financial shareholders’ equity excluding CIEs; Ameriprise Financial shareholders’ equity excluding CIEs and AOCI; basic operating earnings per share; effective tax rate excluding noncontrolling interests; operating earnings; operating earnings per diluted share; operating effective tax rate; operating expenses; operating general and administrative expense; operating return on equity excluding AOCI; operating total net revenues; pretax operating earnings; pretax operating margin; return on equity excluding AOCI; total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs; total Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and capital lease obligations; and total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs.

Item 9.01      Financial Statements and Exhibits.

(d)Exhibits.

Exhibit No.	Description
Exhibit 99.1	Press Release dated April 27, 2016 announcing financial results for the first quarter of 2016
Exhibit 99.2	Statistical Supplement for the quarterly period ended March 31, 2016

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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: April 27, 2016	By	/s/ Walter S. Berman
		Walter S. Berman
		Executive Vice President and
		Chief Financial Officer

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EX-99.1

Exhibit 99.1

Ameriprise Financial, Inc. Ameriprise Financial Center Minneapolis, MN  55474

News Release

Ameriprise Financial Reports
First Quarter 2016 Results

First quarter 2016 net income(1) per diluted share was $2.09

Operating EPS was $2.17

First quarter 2016 return on equity excluding AOCI was 21.5 percent
 Operating ROE excluding AOCI increased 110 bps to 24.2 percent

The company raised its regular quarterly dividend 12 percent to $0.75 per share

MINNEAPOLIS — April 27, 2016 — Ameriprise Financial, Inc. (NYSE: AMP) today reported first quarter 2016 net income(1) of $364 million, or $2.09 per diluted share. Operating earnings were $378 million, with operating earnings per diluted share of $2.17. Operating results include previously announced unfavorable items of $0.09 per share.

Operating net revenues of $2.8 billion were down 4 percent, reflecting the dislocation in equity markets during the quarter, which caused a lower level of average assets under management, resulting in lower fee revenue. The dislocation in equity markets also impacted revenues on a sequential basis.

Operating expenses of $2.3 billion were down 2 percent from a year ago as a result of lower distribution expenses and well controlled general and administrative expenses. General and administrative expenses decreased 2 percent, primarily associated with ongoing reengineering and disciplined expense control in response to the challenging market environment during the quarter. Overall, the company will continue to manage expenses tightly in response to the market environment while maintaining targeted growth investments.

In the quarter, the company continued to deliver a strong return to shareholders through share repurchases and dividends of $568 million, returning 150 percent of its operating earnings.

“Ameriprise performed well in a challenging market environment for the industry,” said Jim Cracchiolo, chairman and chief executive officer. “With equity market declines and high volatility during the quarter, we continued to deliver solid underlying results as we focused on supporting our clients and advisors through this period and providing important perspective for the long-term. While client activity slowed given the markets, we continued to generate solid net inflows in fee-based investment advisory accounts and strong investment performance.”

“Our strong capital position and financial foundation provides important flexibility as we invest through market cycles and return capital to shareholders. In the quarter, we nearly doubled the number of shares of common stock we repurchased compared to a year ago, and today we announced another increase to our regular quarterly dividend, up 12 percent, representing the ninth increase over the past seven years.”

(1)Net income represents net income attributable to Ameriprise Financial.

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Ameriprise Financial, Inc.

First Quarter Summary

	Quarter Ended March 31,				% Better/		Per Diluted Share Quarter Ended March 31,				% Better/
(in millions, except per share amounts, unaudited)	2016		2015		(Worse)		2016		2015		(Worse)
Net income attributable to Ameriprise Financial	$	364	$	393	(7	)%	$	2.09	$	2.08	—
Adjustments, net of tax (1) (see reconciliation on p. 11)	14		19				0.08		0.10
Operating earnings (2)	$	378	$	412	(8	)%	$	2.17	$	2.18	—
Weighted average common shares outstanding:
Basic	172.6		186.3
Diluted	174.4		189.1

(1)After-tax is calculated using the statutory tax rate of 35%

(2)The company believes the presentation of operating earnings best represents the economics of the business.  Operating earnings, after-tax, exclude the consolidation of certain investment entities; net realized investment gains or losses, net of deferred sales inducement costs (“DSIC”) and deferred acquisition costs (“DAC”) amortization, unearned revenue amortization and the reinsurance accrual; integration and restructuring charges; the market impact on variable annuity guaranteed benefits, net of hedges and related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; and income or loss from discontinued operations.

First quarter 2016 operating earnings included the following after-tax items:

(in millions, except per share amounts, unaudited)	Quarter Ended March 31, 2016			Per Diluted Share Quarter Ended March 31, 2016
Auto & Home excess catastrophe losses (1)	$	(9	)	$	(0.05	)
Market impact on SOP reserves (1) (2)	(2		)	(0.01		)
Market impact on DAC/DSIC (1)		(5	)		(0.03	)
Total items (3)	$	(16	)	$	(0.09	)

(1)After-tax is calculated using the statutory tax rate of 35%

(2)Reserves for insurance features in non-traditional contracts

(3)Previously announced items

Taxes

The first quarter 2016 operating effective tax rate was 23.9 percent, compared to 26.7 percent a year ago. The company estimates that its full year 2016 operating effective tax rate will be in the 24 to 26 percent range.

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First Quarter 2016 Business Highlights

The company’s average weighted equity index (WEI), which is a proxy for equity movements on AUM, declined 8 percent year-over-year and 6 percent sequentially from the fourth quarter of 2015.  The market decline and high volatility impacted AUM and transactional fee revenue.

·Total assets under management and administration were $773 billion as Ameriprise advisor client net inflows were more than offset by market depreciation and asset management outflows.

·Advice & Wealth Management advisor client assets were $451 billion, reflecting continued strength in fee-based investment advisory net inflows, including $1.8 billion of net inflows in the quarter.

·On a trailing 12-month basis, operating net revenue per advisor grew 1 percent to $510,000, reflecting high market volatility and lower transactional client activity.

·Total advisors were 9,766, reflecting strong advisor retention and ongoing experienced advisor recruiting. The company added 70 experienced, productive advisors in the quarter.

·Asset Management segment AUM declined to $464 billion, primarily driven by net outflows. Outflows in the quarter were primarily in lower-fee portfolios.

·Investment performance remained strong with 115 four- and five-star funds at Columbia Threadneedle Investments.

·Five Columbia funds received 2016 Lipper Fund Awards as top-performing mutual funds in their respective Lipper classifications for the period ended Dec. 31, 2015.

·Ameriprise ranked fifth out of 20 firms in the 2016 J.D.Power U.S. Full Service Investor Satisfaction StudySM.

·Variable annuity policyholder account balances were $74 billion with sales of $1.1 billion in the quarter.

·Excess capital was more than $2.0 billion after the company repurchased 5.1 million shares of common stock in the quarter for $451 million, up from 2.6 million shares a year ago, and paid $117 million in quarterly dividends.

·The company increased its regular quarterly dividend 12 percent to $0.75 per share payable on May 20, 2016 to shareholders of record as of May 9, 2016.

·The company returned 150 percent of operating earnings to shareholders during the quarter, reflecting its strategy of adjusting the level of share repurchases based on the valuation of the stock.

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Ameriprise Financial, Inc.
Advice & Wealth Management Segment Operating Results

	Quarter Ended March 31,						% Better/
(in millions, unaudited)	2016			2015			(Worse)
Advice & Wealth Management
Net revenues	$	1,198		$	1,228		(2	)%
Expenses	993			1,018			2
Pretax operating earnings	$	205		$	210		(2	)
Pretax operating margin	17.1		%	17.1		%

	Quarter Ended March 31,				% Better/
	2016		2015		(Worse)
Retail client assets (billions)	$	451	$	453	—
Wrap net flows (billions)	$	1.8	$	2.8	(35	)%
Operating net revenue per branded advisor (trailing 12 months - thousands)	$	510	$	505	1	%

Advice & Wealth Management pretax operating earnings were $205 million as the company’s fee-based assets were impacted by lower average market levels resulting in lower revenues, which were partially offset by continued effective general and administrative expense management. While client net inflows remained strong, earnings were impacted by lower transactional volume given the volatile and uncertain markets. First quarter 2016 pretax operating margin was 17.1 percent, flat compared to a year ago.

Operating net revenues of $1.2 billion declined 2 percent as lower average equity markets reduced average client asset levels and lowered client activity levels given the uncertainty in the market environment.

Operating expenses declined 2 percent to $1.0 billion as lower distribution expenses reflected the slowdown in revenues. General and administrative expenses were flat compared to a year ago — the company will continue to tightly manage expenses while maintaining targeted growth investments.

Total retail client assets were essentially flat at $451 billion, as client net inflows and client acquisition were offset by year-over-year market depreciation. Underlying business fundamentals and metrics remained strong and are consistent with the market environment. Wrap net inflows were $1.8 billion in the quarter, which contributed to a 2 percent increase in wrap balances to $183 billion. Total advisors were 9,766 reflecting strong retention and another successful recruiting quarter, with 70 experienced advisors moving their practices to Ameriprise. The combination of asset growth and client activity drove a 1 percent increase in operating net revenue per advisor on a trailing 12-month basis to $510,000.

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Ameriprise Financial, Inc.

Asset Management Segment Operating Results

	Quarter Ended March 31,						% Better/
(in millions, unaudited)	2016			2015			(Worse)
Asset Management
Net revenues	$	724		$	807		(10	)%
Expenses	575			616			7
Pretax operating earnings	$	149		$	191		(22	)
Adjusted net pretax operating margin	34.7		%	39.7		%

	Quarter Ended March 31,						% Better/
	2016			2015			(Worse)
Total segment AUM (billions)	$	464		$	506		(8	)%
Total segment net flows (billions)	$	(7.5	)	$	(5.8	)	(28	)%
Global Retail net flows, excl. former parent flows	$	(2.6	)	$	(2.4	)	(6	)%
Global Institutional net flows, excl. former parent flows	$	(0.6	)	$	(1.9	)	72	%
Former parent related flows	$	(4.3	)	$	(1.5	)	NM

NM  Not Meaningful — variance of greater than 100%

Asset Management pretax operating earnings were $149 million, reflecting lower average AUM related to lower average global markets and net outflows. Average AUM also declined sequentially after being impacted by the lower average markets, which led to lower revenues. As noted previously, the company’s average weighted equity index (WEI), which is a proxy for equity AUM, declined 8 percent year-over-year and 6 percent sequentially. Given the significant movement in equity markets, earnings for the quarter were in line with management’s expectations. First quarter adjusted net pretax operating margin was 34.7 percent compared to 39.7 percent a year ago.

Operating net revenues of $724 million were down compared to a year ago, reflecting the impact of lower asset levels. AUM declined 8 percent to $464 billion from market depreciation and net outflows, which were primarily in lower-fee portfolios.

Operating expenses of $575 million declined 7 percent due to well managed general and administrative expenses and lower distribution expenses.

Net outflows were $7.5 billion in the quarter and were largely driven by outflows in lower-fee mandates, as follows:

·Elevated outflows of $5.8 billion in lower-fee assets in the quarter, included:

·$4.3 billion of former parent related assets, which were largely driven by changes made to fixed income IMA accounts by a former affiliated distribution partner that resulted in an expected $3.2 billion outflow of institutional assets.

·$1.1 billion from the termination of a former subadvisor and $0.4 billion in other insurance portfolios.

·Outflows of $1.1 billion from a third party institutional client that redeemed assets for liquidity purposes — underlying third-party institutional flows were positive.

·While U.S. retail flows were challenging in the quarter consistent with the industry, outflows in the Acorn Fund moderated to $0.6 billion. European retail flows were slightly negative and reflected the volatile market environment.

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Ameriprise Financial, Inc.

Annuities Segment Operating Results

	Quarter Ended March 31,					% Better/
(in millions, unaudited)	2016			2015		(Worse)
Annuities
Net revenues	$	596		$	631	(6	)%
Expenses	472			459		(3	)
Pretax operating earnings	$	124		$	172	(28	)
Variable annuity pretax operating earnings	$	100		$	144	(31	)%
Fixed annuity pretax operating earnings	24			28		(14	)
Total pretax operating earnings	$	124		$	172	(28	)
Items included in operating earnings:
Market impact on DAC and DSIC (mean reversion)	$	(6	)	$	10	NM
Market impacts on SOP reserves	(3		)	8		NM
Total annuities impact	$	(9	)	$	18	NM

	Quarter Ended March 31,						% Better/
	2016			2015			(Worse)
Variable annuity ending account balances (billions)	$	74.2		$	77.9		(5	)%
Variable annuity net flows (millions)	$	(311	)	$	(385	)	19	%
Fixed annuity ending account balances (billions)	$	10.5		$	11.7		(10	)%
Fixed annuity net flows (millions)	$	(249	)	$	(565	)	56	%

NM  Not Meaningful — variance of greater than 100%

Annuities pretax operating earnings were $124 million, primarily reflecting lower average account balances due to markets, as well as the market impact on DAC, DSIC and SOP reserves. Earnings were in line with expectations given the market fluctuations.

Variable annuity operating earnings were $100 million compared to $144 million a year ago. The year-over-year decline included an impact of approximately $16 million due to low interest rates and average account balances being lower in the quarter due to market levels, leading to lower mortality and expense fees. In addition, there was a $27 million reduction in operating earnings compared to a year ago due to the market impact on DAC, DSIC and SOP reserves. Variable annuity cash sales remained strong at $1.1 billion in the quarter. Account balances declined 5 percent to $74 billion, primarily reflecting net outflows in a closed block of annuities sold through third parties and market depreciation.

Fixed annuity operating earnings declined from $28 million to $24 million as older policies continue to lapse and the interest rate environment remains challenging for investment yields.

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Ameriprise Financial, Inc.

Protection Segment Operating Results

	Quarter Ended March 31,						% Better/
(in millions, unaudited)	2016			2015			(Worse)
Protection
Net revenues	$	608		$	590		3	%
Expenses	539			539			—
Pretax operating earnings	$	69		$	51		35
Items included in operating earnings:
Market impact on DAC (mean reversion)	$	(1	)	$	1		NM
LTC reserves	—			(32		)	NM
L&H reinsurance recapture and model changes	6			—			NM
Disability income discount rate change	—			7			NM
Auto and home catastrophe losses (1)	(23		)	(12		)	(92	)%
Total protection impact	$	(18	)	$	(36	)	50	%

	Quarter Ended March 31,				% Better/
	2016		2015		(Worse)
Life insurance in force (billions)	$	196	$	196	—
VUL/UL ending account balances (billions)	$	11.2	$	11.4	(2	)%
Auto & Home policies in force (thousands)	957		943		1	%

(1)  Q1 2015 includes $4 million related to 2014 catastrophe losses

NM  Not Meaningful — variance of greater than 100%

Protection pretax operating earnings were $69 million compared to $51 million a year ago. Excluding the noted items above, earnings were flat compared to last year.

Life and Health insurance earnings were solid. Life and Health earnings continue to be impacted by the low interest rate environment. Claims experience was within expected ranges. VUL/UL cash sales were $66 million, flat compared to a year ago, and VUL/UL account balances declined 2 percent.

Auto and Home had an operating loss in the quarter driven by $14 million of higher than expected catastrophe losses, primarily from hail and wind storms in Texas. Excluding the excess catastrophe losses, Auto and Home was marginally profitable and the company is seeing improvement in overall loss trends in the quarter. The performance for the 2015 and prior accident years currently remains in line with expectations, benefiting from enhancements made to underwriting, pricing and claims practices.

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Ameriprise Financial, Inc.

Corporate & Other Segment Operating Results

	Quarter Ended March 31,						% Better/
(in millions, unaudited)	2016			2015			(Worse)
Corporate & Other
Net revenues	$	2		$	(6	)	NM
Expenses	52			56			7	%
Pretax operating loss	$	(50	)	$	(62	)	19

NM  Not Meaningful — variance of greater than 100%

Corporate & Other pretax operating loss was $50 million for the quarter compared to a $62 million loss a year ago.

Contacts

Investor Relations:	Media Relations:
Alicia A. Charity	Paul W. Johnson
Ameriprise Financial	Ameriprise Financial
(612) 671-2080	(612) 671-0625
alicia.a.charity@ampf.com	paul.w.johnson@ampf.com

Chad J. Sanner

Ameriprise Financial

(612) 671-4676

chad.j.sanner@ampf.com

At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 120 years. With a nationwide network of 10,000 financial advisors and extensive asset management, advisory and insurance capabilities, we have the strength and expertise to serve the full range of individual and institutional investors’ financial needs. For more information, visit ameriprise.com.

Ameriprise Financial Services, Inc. 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 is an SEC- and FCA-registered investment adviser affiliate of Columbia Management Investment Advisers, LLC based in the U.K. Auto and home insurance is underwritten by IDS Property Casualty Insurance Company, or in certain states, Ameriprise Insurance Company, both in De Pere, WI. 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 all part of Ameriprise Financial, Inc. CA License #0684538. RiverSource Distributors, Inc. (Distributor), Member FINRA.

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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:

·the statements in this news release concerning the company’s management of expenses;

·the statements in this news release concerning the company’s operating effective tax rate;

·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, acquisition integration, general and administrative costs, 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 variations and the economic performance of the United States and of global markets; and

·statements of assumptions underlying such statements.

The words “believe,” “expect,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” “forecast,” “on pace,” “project” 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.

Such factors include, but are not limited to:

·conditions in the interest rate, credit default, equity market and foreign exchange environments, including changes in valuations, liquidity and volatility;

·changes in and the adoption of relevant accounting standards and securities rating agency standards and processes, as well as changes in the litigation and regulatory environment, including ongoing legal proceedings and regulatory actions, the frequency and extent of legal claims threatened or initiated by clients, other persons and regulators, and developments in regulation and legislation, including the rules, exemptions and regulations implemented or that may be implemented in connection with the Dodd-Frank Wall Street Reform and Consumer Protection Act or in light of the U.S. Department of Labor rule and exemptions pertaining to the fiduciary status of investment advice providers to 401(k) plan, plan sponsors, plan participants and the holders of individual retirement or health savings accounts;

·investment management performance and distribution partner and consumer acceptance of the company’s products;

·effects of competition in the financial services industry, including pricing pressure, the introduction of new products and services and changes in product distribution mix and distribution channels;

·changes to the company’s reputation that may arise from employee or advisor misconduct, legal or regulatory actions, perceptions of the financial services industry generally, improper management of conflicts of interest or otherwise;

·the company’s capital structure, including indebtedness, limitations on subsidiaries to pay dividends, and the extent, manner, terms and timing of any share or debt repurchases management may effect as well as the opinions of rating agencies and other analysts and the reactions of market participants or the company’s regulators, advisors, distribution partners or customers in response to any change or prospect of change in any such opinion;

·changes to the availability and cost of liquidity and the Company’s credit capacity that may arise due to shifts in market conditions, the Company’s credit ratings and the overall availability of credit;

·risks of default, capacity constraint or repricing by issuers or guarantors of investments the company owns or by counterparties to hedge, derivative, insurance or reinsurance arrangements or by manufacturers of products the company distributes, experience deviations from the company’s assumptions regarding such risks, the evaluations or the prospect of changes in evaluations of any

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such third parties published by rating agencies or other analysts, and the reactions of other market participants or the company’s regulators, advisors, distribution partners or customers in response to any such evaluation or prospect of changes in evaluation;

·experience deviations from the company’s assumptions regarding morbidity, mortality and persistency in certain annuity and insurance products, or from assumptions regarding market returns assumed in valuing or unlocking DAC and DSIC or market volatility underlying our valuation and hedging of guaranteed living benefit annuity riders, or from assumptions regarding interest rates assumed in our loss recognition testing of our Long Term Care business, or from assumptions regarding anticipated claims and losses relating to our automobile and home insurance products;

·changes in capital requirements that may be indicated, required or advised by regulators or rating agencies;

·the impacts of the company’s efforts to improve distribution economics and to grow third-party distribution of its products;

·the ability to pursue and complete strategic transactions and initiatives, including acquisitions, divestitures, restructurings, joint ventures and the development of new products and services;

·the ability to realize the financial, operating and business fundamental benefits of strategic transactions and initiatives the company has completed, is pursuing or may pursue in the future, which may be impacted by the ability to obtain regulatory approvals, the ability to effectively manage related expenses and by market, business partner and consumer reactions to such strategic transactions and initiatives;

·the ability and timing to realize savings and other benefits from re-engineering and tax planning;

·interruptions or other failures in our communications, technology and other operating systems, including errors or failures caused by third party service providers, interference or failures caused by third party attacks on our systems, or the failure to safeguard the privacy or confidentiality of sensitive information and data on such systems; and

·general economic and political factors, including consumer confidence in the economy and the financial industry, the ability and inclination of consumers generally to invest as well as their ability and inclination to invest in financial instruments and products other than cash and cash equivalents, the costs of products and services the company consumes in the conduct of its business, and applicable legislation and regulation and changes therein, including tax laws, tax treaties, fiscal and central government treasury policy, and policies regarding the financial services industry and publicly held firms, and regulatory rulings and pronouncements.

Management cautions the reader that the foregoing list of factors is not exhaustive. There may also be other risks that management is unable to predict at this time that may cause actual results to differ materially from those in forward-looking 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 undertakes no obligation to update publicly or revise any forward-looking statements. The foregoing list of factors should be read in conjunction with 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, 2015 available at ir.ameriprise.com.

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 and the below-referenced Statistical Supplement are based upon asset valuations that represent estimates as of the date of this news release and may be revised in the company’s Quarter Report on Form 10-Q for the quarter ended March 31, 2016. For information about Ameriprise Financial entities, please refer to the First Quarter 2016 Statistical Supplement available at ir.ameriprise.com and the tables that follow in this news release.

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

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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.

Reconciliation Tables

Ameriprise Financial, Inc.

Reconciliation Table: Earnings

	Quarter Ended March 31,						Per Diluted Share Quarter Ended March 31,
(in millions, except per share amounts, unaudited)	2016			2015			2016			2015
Net income attributable to Ameriprise Financial	$	364		$	393		$	2.09		$	2.08
Less: Net income (loss) attributable to consolidated investment entities	(1		)	—			—			—
Add: Market impact on variable annuity guaranteed benefits, net of tax(1)	(11		)	22			(0.06		)	0.12
Add: Market impact on indexed universal life benefits, net of tax(1)	(12		)	4			(0.07		)	0.02
Add: Market impact of hedges on investments, net of tax(1)	26			—			0.15			—
Add: Net realized (gains) losses, net of tax(1)	10			(7		)	0.06			(0.04		)
Operating earnings	$	378		$	412		$	2.17		$	2.18
Weighted average common shares outstanding:
Basic	172.6			186.3
Diluted	174.4			189.1

(1)Calculated using the statutory tax rate of 35%.

Ameriprise Financial, Inc.

Reconciliation Table: Total Net Revenues

	Quarter Ended March 31,
(in millions, unaudited)	2016			2015
Total net revenues	$	2,765		$	3,053
Less: CIEs revenue	24			149
Less: Net realized gains (losses)	(16		)	10
Less: Market impact on indexed universal life benefits	9			(4		)
Less: Market impact of hedges on investments	(40		)	—
Operating total net revenues	$	2,788		$	2,898

Ameriprise Financial, Inc.

Reconciliation Table: Total Expenses

	Quarter Ended March 31,
(in millions, unaudited)	2016			2015
Total expenses	$	2,290		$	2,435
Less: CIEs expenses	26			63
Less: Market impact on variable annuity guaranteed benefits	(17		)	34
Less: Market impact on indexed universal life benefits	(10		)	2
Operating expenses	$	2,291		$	2,336

11

Ameriprise Financial, Inc.

Reconciliation Table: Pretax Operating Earnings

	Quarter Ended March 31,
(in millions, unaudited)	2016		2015
Operating total net revenues	$	2,788	$	2,898
Operating expenses	2,291		2,336
Pretax operating earnings	$	497	$	562

Ameriprise Financial, Inc.
Reconciliation Table: General and Administrative Expense

	Quarter Ended March 31,
(in millions, unaudited)	2016		2015
General and administrative expense	$	727	$	752
Less: CIEs expenses	—		10
Operating general and administrative expense	$	727	$	742

Ameriprise Financial, Inc.
Reconciliation Table: Effective Tax Rate

	Quarter Ended March 31, 2016
(in millions, unaudited)	GAAP			Operating
Pretax income	$	475		$	497
Income tax provision	$	111		$	119
Effective tax rate	23.3		%	23.9		%

Ameriprise Financial, Inc.
Reconciliation Table: Effective Tax Rate

	Quarter Ended March 31, 2015
(in millions, unaudited)	GAAP			Operating
Pretax income	$	618		$	562
Less: Pretax income attributable to noncontrolling interests	86			—
Pretax income excluding consolidated investment entities	$	532		$	562
Income tax provision	$	139		$	150
Effective tax rate	22.5		%	26.7		%
Effective tax rate excluding noncontrolling interests	26.1		%	26.7		%

12

Ameriprise Financial, Inc.

Reconciliation Table: Asset Management Adjusted Net Pretax Operating Margin

	Quarter Ended March 31,
(in millions, unaudited)	2016			2015
Operating total net revenues	$	724		$	807
Less: Distribution pass through revenues	199			218
Less: Subadvisory and other pass through revenues	87			103
Adjusted operating revenues	$	438		$	486
Pretax operating earnings	$	149		$	191
Less: Operating net investment income	3			6
Add: Amortization of intangibles	6			8
Adjusted operating earnings	$	152		$	193
Adjusted net pretax operating margin	34.7		%	39.7		%

Ameriprise Financial, Inc.

Reconciliation Table: Return on Equity (ROE) Excluding Accumulated
Other Comprehensive Income “AOCI”

	Twelve Months Ended March 31,
(in millions, unaudited)	2016			2015
Net income attributable to Ameriprise Financial	$	1,533		$	1,612
Less: Loss from discontinued operations, net of tax	—			(1		)
Net income from continuing operations attributable to Ameriprise Financial, as reported	1,533			1,613
Less: Adjustments (1)	(149		)	(54		)
Operating earnings	$	1,682		$	1,667
Total Ameriprise Financial, Inc. shareholders’ equity	$	7,602		$	8,270
Less: Accumulated other comprehensive income, net of tax	472			755
Total Ameriprise Financial, Inc. shareholders’ equity excluding AOCI	7,130			7,515
Less: Equity impacts attributable to the consolidated investment entities	170			300
Operating equity	$	6,960		$	7,215
Return on equity excluding AOCI	21.5		%	21.5		%
Operating return on equity excluding AOCI (2)	24.2		%	23.1		%

(1)Adjustments reflect the trailing twelve months’ sum of after-tax net realized investment gains/losses, net of deferred sales inducement costs (“DSIC”) and deferred acquisition costs (“DAC”) amortization, unearned revenue amortization and the reinsurance accrual; market impact on variable annuity guaranteed benefits, net of hedges and related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; integration/restructuring charges; and the impact of consolidating certain investment entities.  After-tax is calculated using the statutory tax rate of 35%.

(2)Operating return on equity excluding accumulated other comprehensive income (AOCI) is calculated using the trailing twelve months of earnings excluding the after-tax net realized investment gains/losses, net of deferred sales inducement costs (“DSIC”) and deferred acquisition costs (“DAC”) amortization, unearned revenue amortization and the reinsurance accrual; market impact on variable annuity guaranteed benefits, net of hedges and related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; integration/restructuring charges; the impact of consolidating certain investment entities; and discontinued operations 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 35%.

13

Ameriprise Financial, Inc.
Consolidated GAAP Results

	Quarter Ended March 31,				% Better/
(in millions, unaudited)	2016		2015		(Worse)
Revenues
Management and financial advice fees	$	1,386	$	1,468	(6	)%
Distribution fees	435		466		(7	)
Net investment income	331		484		(32	)
Premiums	368		353		4
Other revenues	254		289		(12	)
Total revenues	2,774		3,060		(9	)
Banking and deposit interest expense	9		7		(29	)
Total net revenues	2,765		3,053		(9	)
Expenses
Distribution expenses	770		819		6
Interest credited to fixed accounts	146		172		15
Benefits, claims, losses and settlement expenses	482		533		10
Amortization of deferred acquisition costs	110		75		(47	)
Interest and debt expense	55		84		35
General and administrative expense	727		752		3
Total expenses	2,290		2,435		6
Pretax income	475		618		(23	)
Income tax provision	111		139		20
Net income	364		479		(24	)
Less: Net income attributable to noncontrolling interests	—		86		NM
Net income attributable to Ameriprise Financial	$	364	$	393	(7	)

NM  Not Meaningful — variance of greater than 100%

14

EX-99.2

Exhibit 99.2

Statistical Supplement Package

(unaudited)

First Quarter 2016

Ameriprise Financial, Inc.

Statistical Supplement Information

Table of Contents

	Page
Ameriprise Financial, Inc.
Statistical Supplement Presentation	4
Consolidated GAAP Income Statements	5
Consolidated Operating Results and Highlights	6
Common Share and Capital Summary	8
Segment Summary	10
Advice & Wealth Management Segment
Segment Operating Income Statements	12
Segment Metrics	13
Asset Management Segment
Segment Operating Income Statements	15
Segment Metrics	16
Global Asset Management Products	17
Retail Fund Performance - Columbia	18
Retail Fund Performance - Threadneedle	19
Annuities Segment
Segment Operating Income Statements	21
Segment Metrics	22
Protection Segment
Segment Operating Income Statements	24
Segment Metrics	25
Corporate & Other Segment
Segment Operating Income Statements	27
Eliminations
Operating Income Statements	28
Balance Sheet and Ratings Information
Consolidated Balance Sheets	30
Capital and Ratings Information	31
Investments	32
Non-GAAP Financial Information	33
Glossary of Selected Terminology
Glossary of Selected Terminology - Segments	34
Glossary of Selected Terminology	35
Exhibit A
Disclosed Items	38
Exhibit B
Non-GAAP Financial Measure Reconciliations	44

2

Statistical Supplement Package

(unaudited)

First Quarter 2016

Consolidated Results

3

Ameriprise Financial, Inc.

Statistical Supplement Presentation

First Quarter 2016

Ameriprise Financial, Inc. (“Ameriprise Financial” or “the Company”) prepares its financial statements in accordance with generally accepted accounting principles (“GAAP”). Management believes that operating measures, which exclude net realized investment gains or losses, net of deferred sales inducement costs (“DSIC”) and deferred acquisition costs (“DAC”) amortization, unearned revenue amortization and the reinsurance accrual; the market impact on variable annuity guaranteed benefits, net of hedges and the related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; integration and restructuring charges; income (loss) from discontinued operations; and the impact of consolidating certain investment entities (“CIEs”), best reflect the underlying performance of our core operations and facilitate a more meaningful trend analysis. The Company also uses a number of non-GAAP financial measures to evaluate its financial performance on a basis comparable to that used by some securities analysts and investors. However, these measures are not a substitute for GAAP. Therefore, reconciliations to GAAP measures are provided on page 6 and in Exhibit B “Non-GAAP Financial Measure Reconciliations” on pages 44 and 45.

The market impact on variable annuity guaranteed benefits and indexed universal life benefits includes changes in liability values caused by changes in financial market conditions, net of changes in economic hedge values.  The market impact also includes certain valuation adjustments made in accordance with Financial Accounting Standards Board Accounting Standards Codification 820, Fair Value Measurements and Disclosures (“ASC 820”), including the impact on liability values of discounting projected benefits to reflect a current estimate of RiverSource Life Insurance Company’s nonperformance spread.  Further, the market impact is net of related impacts on DAC, DSIC and unearned revenue amortization as well as a reinsurance accrual for indexed universal life.  The market impact relates to guaranteed minimum accumulation benefits, non-life contingent guaranteed minimum withdrawal benefits and indexed universal life benefits accounted for at fair value as embedded derivatives. 

Operating earnings is the measure of segment profit or loss management uses to evaluate segment performance.  Operating earnings should not be viewed as a substitute for GAAP income from continuing operations before income tax provision.  Management believes the presentation of segment operating earnings as we measure it for management purposes enhances the understanding of our business by reflecting the underlying performance of our core operations and facilitating a more meaningful trend analysis.

In addition, management uses adjusted net pretax operating margin in the Asset Management segment to evaluate segment performance on a basis comparable to other asset managers.  In the Asset Management segment, operating revenues are adjusted to exclude distribution pass through revenues and subadvisory and other pass through revenues, and operating earnings are adjusted to exclude operating net investment income and amortization of intangibles.

4

Ameriprise Financial, Inc.

Consolidated GAAP Income Statements

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions, except per share amounts, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Revenues
Management and financial advice fees	$	1,468		$	1,518		$	1,465		$	1,499		$	1,386		$	1,468		$	1,386		$	(82	)	(6	)%	$	(82	)	(6	)%	$	(113	)	(8	)%
Distribution fees	466			472			451			458			435			466			435			(31		)	(7	)%	(31		)	(7	)%	(23		)	(5	)%
Net investment income	484			423			321			460			331			484			331			(153		)	(32	)%	(153		)	(32	)%	(129		)	(28	)%
Premiums	353			368			360			374			368			353			368			15			4	%	15			4	%	(6		)	(2	)%
Other revenues	289			354			296			321			254			289			254			(35		)	(12	)%	(35		)	(12	)%	(67		)	(21	)%
Total revenues	3,060			3,135			2,893			3,112			2,774			3,060			2,774			(286		)	(9	)%	(286		)	(9	)%	(338		)	(11	)%
Banking and deposit interest expense	7			7			7			9			9			7			9			2			29	%	2			29	%	—			—
Total net revenues	3,053			3,128			2,886			3,103			2,765			3,053			2,765			(288		)	(9	)%	(288		)	(9	)%	(338		)	(11	)%
Expenses
Distribution expenses	819			835			806			816			770			819			770			(49		)	(6	)%	(49		)	(6	)%	(46		)	(6	)%
Interest credited to fixed accounts	172			160			171			165			146			172			146			(26		)	(15	)%	(26		)	(15	)%	(19		)	(12	)%
Benefits, claims, losses and settlement expenses	533			543			471			714			482			533			482			(51		)	(10	)%	(51		)	(10	)%	(232		)	(32	)%
Amortization of deferred acquisition costs	75			94			133			52			110			75			110			35			47	%	35			47	%	58			#
Interest and debt expense	84			89			98			116			55			84			55			(29		)	(35	)%	(29		)	(35	)%	(61		)	(53	)%
General and administrative expense	752			792			744			794			727			752			727			(25		)	(3	)%	(25		)	(3	)%	(67		)	(8	)%
Total expenses	2,435			2,513			2,423			2,657			2,290			2,435			2,290			(145		)	(6	)%	(145		)	(6	)%	(367		)	(14	)%
Pretax income	618			615			463			446			475			618			475			(143		)	(23	)%	(143		)	(23	)%	29			7	%
Income tax provision	139			139			111			66			111			139			111			(28		)	(20	)%	(28		)	(20	)%	45			68	%
Net income	479			476			352			380			364			479			364			(115		)	(24	)%	(115		)	(24	)%	(16		)	(4	)%
Less: Net income (loss) attributable to noncontrolling interests	86			61			(45		)	23			—			86			—			(86		)	#		(86		)	#		(23		)	#
Net income attributable to Ameriprise Financial	$	393		$	415		$	397		$	357		$	364		$	393		$	364		$	(29	)	(7	)%	$	(29	)	(7	)%	$	7		2	%
Net Investment Income
Investment income on fixed maturities	$	354		$	355		$	346		$	348		$	343		$	354		$	343		$	(11	)	(3	)%	$	(11	)	(3	)%	$	(5	)	(1	)%
Realized investment gains (losses)	10			5			(10		)	(1		)	(16		)	10			(16		)	(26		)	#		(26		)	#		(15		)	#
Affordable housing	(8		)	(10		)	(7		)	7			(7		)	(8		)	(7		)	1			13	%	1			13	%	(14		)	#
Other (including seed money)	23			19			(10		)	36			(17		)	23			(17		)	(40		)	#		(40		)	#		(53		)	#
Consolidated investment entities	105			54			2			70			28			105			28			(77		)	(73	)%	(77		)	(73	)%	(42		)	(60	)%
Total net investment income	$	484		$	423		$	321		$	460		$	331		$	484		$	331		$	(153	)	(32	)%	$	(153	)	(32	)%	$	(129	)	(28	)%
Earnings Per Share
Basic earnings per share	$	2.11		$	2.26		$	2.20		$	2.02		$	2.11		$	2.11		$	2.11		$	—		—		$	—		—		$	0.09		4	%
Earnings per diluted share	$	2.08		$	2.23		$	2.17		$	2.00		$	2.09		$	2.08		$	2.09		$	0.01		—		$	0.01		—		$	0.09		4	%
Earnings per diluted share growth	3.5		%	16.8		%	—			(10.3		)%	0.5		%	3.5		%	0.5		%	(3.0		)%			(3.0		)%			10.8		%
Weighted average common shares outstanding
Basic weighted average common shares outstanding	186.3			183.8			180.4			176.6			172.6			186.3			172.6			(13.7		)	(7	)%	(13.7		)	(7	)%	(4.0		)	(2	)%
Effect of potentially dilutive nonqualified stock options and other share-based awards	2.8			2.6			2.3			2.3			1.8			2.8			1.8			(1.0		)	(36	)%	(1.0		)	(36	)%	(0.5		)	(22	)%
Diluted weighted average common shares outstanding	189.1			186.4			182.7			178.9			174.4			189.1			174.4			(14.7		)	(8	)%	(14.7		)	(8	)%	(4.5		)	(3	)%
Metrics
Net revenue growth	1.9		%	1.8		%	(7.2		)%	0.5		%	(9.4		)%	1.9		%	(9.4		)%	(11.3		)%			(11.3		)%			(9.9		)%
Pretax income margin	20.2		%	19.7		%	16.0		%	14.4		%	17.2		%	20.2		%	17.2		%	(3.0		)%			(3.0		)%			2.8		%
Effective tax rate	22.5		%	22.6		%	24.1		%	14.8		%	23.3		%	22.5		%	23.3		%	0.8		%			0.8		%			8.5		%
Effective tax rate excluding noncontrolling interests (1)	26.1		%	25.1		%	21.9		%	15.6		%	23.3		%	26.1		%	23.3		%	(2.8		)%			(2.8		)%			7.7		%
Ameriprise Financial shareholders’ equity / outstanding shares (2)	$	44.27		$	43.25		$	42.76		$	41.33		$	41.65		$	44.27		$	41.65		$	(2.62	)	(6	)%	$	(2.62	)	(6	)%	$	0.32		1	%
Ameriprise Financial shareholders’ equity excluding AOCI / outstanding shares (1)(3)	$	40.47		$	40.50		$	40.18		$	39.89		$	39.05		$	40.47		$	39.05		$	(1.42	)	(4	)%	$	(1.42	)	(4	)%	$	(0.84	)	(2	)%

(1)See non-GAAP financial information on pg 33.  Non-GAAP financial measure reconciliations can be found on pages 44 and 45.

(2)Calculated as Ameriprise Financial shareholders’ equity divided by common shares outstanding plus common stock equivalents outstanding at period end.

(3)Calculated as Ameriprise Financial shareholders’ equity excluding AOCI divided by common shares outstanding plus common stock equivalents outstanding at period end.

#  Variance equal to or greater than 100%.

5

Ameriprise Financial, Inc.

Consolidated Operating Results and Highlights

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions except per share amounts, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Revenues
Total net revenues	$	3,053		$	3,128		$	2,886		$	3,103		$	2,765		$	3,053		$	2,765		$	(288	)	(9	)%	$	(288	)	(9	)%	$	(338	)	(11	)%
Less revenues attributable to the CIEs	149			141			43			113			24			149			24			(125		)	(84	)%	(125		)	(84	)%	(89		)	(79	)%
Less net realized investment gains (losses) (1)	10			5			(10		)	(1		)	(16		)	10			(16		)	(26		)	#		(26		)	#		(15		)	#
Less market impact on indexed universal life benefits (1)	(4		)	—			9			2			9			(4		)	9			13			#		13			#		7			#
Less market impact of hedges on investments	—			(1		)	(31		)	11			(40		)	—			(40		)	(40		)	—		(40		)	—		(51		)	#
Operating total net revenues (2)	$	2,898		$	2,983		$	2,875		$	2,978		$	2,788		$	2,898		$	2,788		$	(110	)	(4	)%	$	(110	)	(4	)%	$	(190	)	(6	)%
Earnings
Net income attributable to Ameriprise Financial	$	393		$	415		$	397		$	357		$	364		$	393		$	364		$	(29	)	(7	)%	$	(29	)	(7	)%	$	7		2	%
Less Net income (loss) attributable to the CIEs	—			—			—			—			(1		)	—			(1		)	(1		)	—		(1		)	—		(1		)	—
Integration/restructuring charges, net of tax (3)	—			1			2			—			—			—			—			—			—		—			—		—			—
Market impact on variable annuity guaranteed benefits, net of tax (1)(3)	22			23			3			91			(11		)	22			(11		)	(33		)	#		(33		)	#		(102		)	#
Market impact on indexed universal life benefits, net of tax (1)(3)	4			(3		)	—			—			(12		)	4			(12		)	(16		)	#		(16		)	#		(12		)	—
Market impact of hedges on investments, net of tax (3)	—			1			20			(7		)	26			—			26			26			—		26			—		33			#
Less net realized investment gains (losses), net of tax (1)(3)	7			3			(7		)	—			(10		)	7			(10		)	(17		)	#		(17		)	#		(10		)	—
Operating earnings (2)	$	412		$	434		$	429		$	441		$	378		$	412		$	378		$	(34	)	(8	)%	$	(34	)	(8	)%	$	(63	)	(14	)%
Pretax Earnings
Pretax income	$	618		$	615		$	463		$	446		$	475		$	618		$	475		$	(143	)	(23	)%	$	(143	)	(23	)%	$	29		7	%
Less Pretax income (loss) attributable to the CIEs	86			61			(45		)	23			(2		)	86			(2		)	(88		)	#		(88		)	#		(25		)	#
Integration/restructuring charges	—			1			3			1			—			—			—			—			—		—			—		(1		)	#
Market impact on variable annuity guaranteed benefits (1)	34			36			5			139			(17		)	34			(17		)	(51		)	#		(51		)	#		(156		)	#
Market impact on indexed universal life benefits (1)	6			(5		)	1			(1		)	(19		)	6			(19		)	(25		)	#		(25		)	#		(18		)	#
Market impact of hedges on investments	—			1			31			(11		)	40			—			40			40			—		40			—		51			#
Less net realized investment gains (losses) (1)	10			5			(10		)	(1		)	(16		)	10			(16		)	(26		)	#		(26		)	#		(15		)	#
Pretax operating earnings (2)	$	562		$	582		$	558		$	552		$	497		$	562		$	497		$	(65	)	(12	)%	$	(65	)	(12	)%	$	(55	)	(10	)%
Pretax Operating Margin (2)(4)	19.4		%	19.5		%	19.4		%	18.5		%	17.8		%	19.4		%	17.8		%	(1.6		)%			(1.6		)%			(0.7		)%
Operating Effective Tax Rate (2)(5)	26.7		%	25.4		%	23.1		%	20.1		%	23.9		%	26.7		%	23.9		%	(2.8		)%			(2.8		)%			3.8		%
Weighted Average Common Shares Outstanding
Basic	186.3			183.8			180.4			176.6			172.6			186.3			172.6			(13.7		)	(7	)%	(13.7		)	(7	)%	(4.0		)	(2	)%
Diluted	189.1			186.4			182.7			178.9			174.4			189.1			174.4			(14.7		)	(8	)%	(14.7		)	(8	)%	(4.5		)	(3	)%
Operating Earnings Per Share (2)
Basic operating earnings per share	$	2.21		$	2.36		$	2.38		$	2.50		$	2.19		$	2.21		$	2.19		$	(0.02	)	(1	)%	$	(0.02	)	(1	)%	$	(0.31	)	(12	)%
Operating earnings per diluted share	$	2.18		$	2.33		$	2.35		$	2.47		$	2.17		$	2.18		$	2.17		$	(0.01	)	—		$	(0.01	)	—		$	(0.30	)	(12	)%
Return on Equity
Return on equity excluding AOCI (2)(5)	21.5		%	22.1		%	22.0		%	21.4		%	21.5		%	21.5		%	21.5		%	—					—					0.1		%
Operating return on equity excluding AOCI (2)(5)	23.1		%	23.5		%	24.0		%	24.3		%	24.2		%	23.1		%	24.2		%	1.1		%			1.1		%			(0.1		)%

(1)Operating adjustments for net realized investment gains (losses), market impact on indexed universal life benefits and market impact on variable annuity guaranteed benefits are net of the following impacts, as applicable:  hedges, DAC and DSIC amortization, unearned revenue amortization and the reinsurance accrual.

(2)See non-GAAP financial information on pg 33.

(3)Calculated using the statutory tax rate of 35%.

(4)Defined as pretax operating earnings as a percentage of operating total net revenues.

(5)Non-GAAP financial measure reconciliations can be found on pg 44.

# Variance equal to or greater than 100%.

6

Ameriprise Financial, Inc.

Consolidated Operating Results and Highlights

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions except per share amounts, headcount and where noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Book Value
Ameriprise Financial shareholders’ equity excluding CIEs / outstanding shares (1)(2)	$	42.84		$	41.91		$	41.86		$	40.58		$	41.64		$	42.84		$	41.64		$	(1.20	)	(3	)%	$	(1.20	)	(3	)%	$	1.06		3	%
Ameriprise Financial shareholders’ equity excluding CIEs and AOCI / outstanding shares (1)(3)	$	38.96		$	39.09		$	39.20		$	39.10		$	39.05		$	38.96		$	39.05		$	0.09		—		$	0.09		—		$	(0.05	)	—
Operating Metrics
Operating total net revenue growth: Target 6 - 8%	3.1		%	2.3		%	(0.8		)%	0.4		%	(3.8		)%	3.1		%	(3.8		)%	(6.9		)%			(6.9		)%			(4.2		)%
Operating earnings per diluted share growth: Target 12 - 15%	6.9		%	12.0		%	11.9		%	7.4		%	(0.5		)%	6.9		%	(0.5		)%	(7.4		)%			(7.4		)%			(7.9		)%
Operating return on equity excluding AOCI: Target 19 - 23% (1)	23.1		%	23.5		%	24.0		%	24.3		%	24.2		%	23.1		%	24.2		%	1.1		%			1.1		%			(0.1		)%
Debt to Capital
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital	27.1		%	27.8		%	28.2		%	27.2		%	27.4		%	27.1		%	27.4		%	0.3		%			0.3		%			0.2		%
Goodwill and Intangible Assets	$	1,982		$	1,997		$	1,982		$	1,981		$	1,965		$	1,982		$	1,965		$	(17	)	(1	)%	$	(17	)	(1	)%	$	(16	)	(1	)%
Assets Under Management and Administration
Advice & Wealth Management AUM	$	179,361		$	181,127		$	173,000		$	179,574		$	182,276		$	179,361		$	182,276		$	2,915		2	%	$	2,915		2	%	$	2,702		2	%
Asset Management AUM	506,310			503,093			471,078			471,888			464,059			506,310			464,059			(42,251		)	(8	)%	(42,251		)	(8	)%	(7,829		)	(2	)%
Corporate AUM	756			723			693			670			372			756			372			(384		)	(51	)%	(384		)	(51	)%	(298		)	(44	)%
Eliminations	(22,489		)	(23,255		)	(22,200		)	(23,074		)	(23,087		)	(22,489		)	(23,087		)	(598		)	(3	)%	(598		)	(3	)%	(13		)	—
Total Assets Under Management	663,938			661,688			622,571			629,058			623,620			663,938			623,620			(40,318		)	(6	)%	(40,318		)	(6	)%	(5,438		)	(1	)%
Total Assets Under Administration	150,836			149,385			143,183			147,677			149,113			150,836			149,113			(1,723		)	(1	)%	(1,723		)	(1	)%	1,436			1	%
Total AUM and AUA	$	814,774		$	811,073		$	765,754		$	776,735		$	772,733		$	814,774		$	772,733		$	(42,041	)	(5	)%	$	(42,041	)	(5	)%	$	(4,002	)	(1	)%
Business Metrics
Total Ameriprise client assets	$	452,969		$	453,336		$	433,458		$	447,120		$	451,417		$	452,969		$	451,417		$	(1,552	)	—		$	(1,552	)	—		$	4,297		1	%
Total branded financial advisors	9,691			9,721			9,814			9,789			9,766			9,691			9,766			75			1	%	75			1	%	(23		)	—
Net Flows and Net Deposits
Branded advisor wrap	$	2,802		$	3,278		$	2,980		$	2,093		$	1,829		$	2,802		$	1,829		$	(973	)	(35	)%	$	(973	)	(35	)%	$	(264	)	(13	)%
Asset Management	(5,821		)	(1,959		)	(7,371		)	(692		)	(7,465		)	(5,821		)	(7,465		)	(1,644		)	(28	)%	(1,644		)	(28	)%	(6,773		)	#
Annuities	(950		)	(901		)	(634		)	(541		)	(560		)	(950		)	(560		)	390			41	%	390			41	%	(19		)	(4	)%
Variable universal life / Universal life	(48		)	(44		)	(46		)	(19		)	(48		)	(48		)	(48		)	—			—		—			—		(29		)	#
S&P 500
Daily average	2,064			2,102			2,027			2,052			1,952			2,064			1,952			(112		)	(5	)%	(112		)	(5	)%	(100		)	(5	)%
Period end	2,068			2,063			1,920			2,044			2,060			2,068			2,060			(8		)	—		(8		)	—		16			1	%
Weighted Equity Index (WEI) (4)
Daily average	1,551			1,591			1,523			1,519			1,428			1,551			1,428			(123		)	(8	)%	(123		)	(8	)%	(91		)	(6	)%
Period end	1,567			1,559			1,430			1,507			1,506			1,567			1,506			(61		)	(4	)%	(61		)	(4	)%	(1		)	—

(1)See non-GAAP financial information on pg 33.  Non-GAAP financial measure reconciliations can be found on pages 44 and 45.

(2)Calculated as Ameriprise Financial shareholders’ equity excluding CIEs divided by common shares outstanding plus common stock equivalents outstanding at period end.

(3)Calculated as Ameriprise Financial shareholders’ equity excluding CIEs and AOCI divided by common shares outstanding plus common stock equivalents outstanding at period end.

(4)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.

# Variance equal to or greater than 100%.

7

Ameriprise Financial, Inc.

Common Share and Capital Summary

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Common shares
Beginning balance	183.1			181.8			178.7			175.0			171.0			183.1			171.0			(12.1		)	(7	)%	(12.1		)	(7	)%	(4.0		)	(2	)%
Repurchases	(2.6		)	(3.4		)	(3.8		)	(4.1		)	(5.1		)	(2.6		)	(5.1		)	(2.5		)	(96	)%	(2.5		)	(96	)%	(1.0		)	(24	)%
Issuances	2.0			0.4			0.2			0.1			1.1			2.0			1.1			(0.9		)	(45	)%	(0.9		)	(45	)%	1.0			#
Other	(0.7		)	(0.1		)	(0.1		)	—			(0.2		)	(0.7		)	(0.2		)	0.5			71	%	0.5			71	%	(0.2		)	—
Total common shares outstanding	181.8			178.7			175.0			171.0			166.8			181.8			166.8			(15.0		)	(8	)%	(15.0		)	(8	)%	(4.2		)	(2	)%
Restricted stock units	3.3			3.4			3.4			3.6			3.5			3.3			3.5			0.2			6	%	0.2			6	%	(0.1		)	(3	)%
Total basic common shares outstanding	185.1			182.1			178.4			174.6			170.3			185.1			170.3			(14.8		)	(8	)%	(14.8		)	(8	)%	(4.3		)	(2	)%
Total potentially dilutive shares	2.7			2.5			2.2			2.2			1.7			2.7			1.7			(1.0		)	(37	)%	(1.0		)	(37	)%	(0.5		)	(23	)%
Total diluted shares	187.8			184.6			180.6			176.8			172.0			187.8			172.0			(15.8		)	(8	)%	(15.8		)	(8	)%	(4.8		)	(3	)%
Capital Returned to Shareholders
Dividends paid	$	110		$	124		$	121		$	119		$	117		$	110		$	117		$	7		6	%	$	7		6	%	$	(2	)	(2	)%
Common stock share repurchases	$	349		$	425		$	450		$	450		$	451		$	349		$	451		$	102		29	%	$	102		29	%	$	1		—
Allocated Capital (1)
Advice & Wealth Management	$	516		$	521		$	528		$	543		$	597		$	516		$	597		$	81		16	%	$	81		16	%	$	54		10	%
Asset Management	1,872			1,854			1,836			1,847			1,833			1,872			1,833			(39		)	(2	)%	(39		)	(2	)%	(14		)	(1	)%
Annuities	1,987			1,941			1,900			1,893			1,897			1,987			1,897			(90		)	(5	)%	(90		)	(5	)%	4			—
Protection	1,975			2,014			2,009			2,045			2,104			1,975			2,104			129			7	%	129			7	%	59			3	%
Corporate & Other	3,856			3,782			3,674			3,094			2,799			3,856			2,799			(1,057		)	(27	)%	(1,057		)	(27	)%	(295		)	(10	)%
Total allocated capital	$	10,206		$	10,112		$	9,947		$	9,422		$	9,230		$	10,206		$	9,230		$	(976	)	(10	)%	$	(976	)	(10	)%	$	(192	)	(2	)%

(1)Allocated capital equals Ameriprise Financial shareholders’ equity excluding consolidated investment entities less AOCI plus Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and capital lease obligations.  Allocated capital is not adjusted for non-operating items except for CIEs.

# Variance equal to or greater than 100%.

8

Statistical Supplement Package

(unaudited)

First Quarter 2016

Segment Results

9

Ameriprise Financial, Inc.

Segment Summary

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Segment Summary
Advice & Wealth Management
Operating total net revenues	$	1,228		$	1,274		$	1,245		$	1,266		$	1,198		$	1,228		$	1,198		$	(30	)	(2	)%	$	(30	)	(2	)%	$	(68	)	(5	)%
Operating expenses	1,018			1,054			1,026			1,056			993			1,018			993			(25		)	(2	)%	(25		)	(2	)%	(63		)	(6	)%
Pretax operating earnings	$	210		$	220		$	219		$	210		$	205		$	210		$	205		$	(5	)	(2	)%	$	(5	)	(2	)%	$	(5	)	(2	)%
Allocated capital	$	516		$	521		$	528		$	543		$	597		$	516		$	597		$	81		16	%	$	81		16	%	$	54		10	%
Operating return on allocated capital (1)	121.6		%	124.3		%	126.8		%	125.0		%	121.3		%	121.6		%	121.3		%	(0.3		)%			(0.3		)%			(3.7		)%
Pretax operating margin	17.1		%	17.3		%	17.6		%	16.6		%	17.1		%	17.1		%	17.1		%	—					—					0.5		%
Asset Management
Operating total net revenues	$	807		$	832		$	782		$	833		$	724		$	807		$	724		$	(83	)	(10	)%	$	(83	)	(10	)%	$	(109	)	(13	)%
Operating expenses	616			635			602			640			575			616			575			(41		)	(7	)%	(41		)	(7	)%	(65		)	(10	)%
Pretax operating earnings	$	191		$	197		$	180		$	193		$	149		$	191		$	149		$	(42	)	(22	)%	$	(42	)	(22	)%	$	(44	)	(23	)%
Allocated capital	$	1,872		$	1,854		$	1,836		$	1,847		$	1,833		$	1,872		$	1,833		$	(39	)	(2	)%	$	(39	)	(2	)%	$	(14	)	(1	)%
Operating return on allocated capital (1)	31.5		%	31.9		%	31.2		%	31.2		%	29.9		%	31.5		%	29.9		%	(1.6		)%			(1.6		)%			(1.3		)%
Pretax operating margin	23.7		%	23.7		%	23.0		%	23.2		%	20.6		%	23.7		%	20.6		%	(3.1		)%			(3.1		)%			(2.6		)%
Operating total net revenues	$	807		$	832		$	782		$	833		$	724		$	807		$	724		$	(83	)	(10	)%	$	(83	)	(10	)%	$	(109	)	(13	)%
Distribution pass thru revenues	(218		)	(219		)	(214		)	(211		)	(199		)	(218		)	(199		)	19			9	%	19			9	%	12			6	%
Subadvisory and other pass thru revenues	(103		)	(102		)	(95		)	(107		)	(87		)	(103		)	(87		)	16			16	%	16			16	%	20			19	%
Adjusted operating revenues (2)	$	486		$	511		$	473		$	515		$	438		$	486		$	438		$	(48	)	(10	)%	$	(48	)	(10	)%	$	(77	)	(15	)%
Pretax operating earnings	$	191		$	197		$	180		$	193		$	149		$	191		$	149		$	(42	)	(22	)%	$	(42	)	(22	)%	$	(44	)	(23	)%
Operating net investment income	(6		)	(4		)	(1		)	(12		)	(3		)	(6		)	(3		)	3			50	%	3			50	%	9			75	%
Amortization of intangibles	8			7			6			6			6			8			6			(2		)	(25	)%	(2		)	(25	)%	—			—
Adjusted operating earnings (2)	$	193		$	200		$	185		$	187		$	152		$	193		$	152		$	(41	)	(21	)%	$	(41	)	(21	)%	$	(35	)	(19	)%
Adjusted net pretax operating margin (2)(3)	39.7		%	39.1		%	39.1		%	36.3		%	34.7		%	39.7		%	34.7		%	(5.0		)%			(5.0		)%			(1.6		)%
Annuities
Operating total net revenues	$	631		$	651		$	632		$	627		$	596		$	631		$	596		$	(35	)	(6	)%	$	(35	)	(6	)%	$	(31	)	(5	)%
Operating expenses	459			501			456			475			472			459			472			13			3	%	13			3	%	(3		)	(1	)%
Pretax operating earnings	$	172		$	150		$	176		$	152		$	124		$	172		$	124		$	(48	)	(28	)%	$	(48	)	(28	)%	$	(28	)	(18	)%
Allocated capital	$	1,987		$	1,941		$	1,900		$	1,893		$	1,897		$	1,987		$	1,897		$	(90	)	(5	)%	$	(90	)	(5	)%	$	4		—
Operating return on allocated capital (1)	20.7		%	22.1		%	25.6		%	25.5		%	24.1		%	20.7		%	24.1		%	3.4		%			3.4		%			(1.4		)%
Pretax operating margin	27.3		%	23.0		%	27.8		%	24.2		%	20.8		%	27.3		%	20.8		%	(6.5		)%			(6.5		)%			(3.4		)%
Protection
Operating total net revenues	$	590		$	600		$	586		$	608		$	608		$	590		$	608		$	18		3	%	$	18		3	%	$	—		—
Operating expenses	539			528			561			573			539			539			539			—			—		—			—		(34		)	(6	)%
Pretax operating earnings	$	51		$	72		$	25		$	35		$	69		$	51		$	69		$	18		35	%	$	18		35	%	$	34		97	%
Allocated capital	$	1,975		$	2,014		$	2,009		$	2,045		$	2,104		$	1,975		$	2,104		$	129		7	%	$	129		7	%	$	59		3	%
Operating return on allocated capital (1)	9.1		%	8.4		%	6.8		%	6.9		%	7.6		%	9.1		%	7.6		%	(1.5		)%			(1.5		)%			0.7		%
Pretax operating margin	8.6		%	12.0		%	4.3		%	5.8		%	11.3		%	8.6		%	11.3		%	2.7		%			2.7		%			5.5		%
Corporate & Other
Operating total net revenues	$	(6	)	$	(2	)	$	(4	)	$	15		$	2		$	(6	)	$	2		$	8		#		$	8		#		$	(13	)	(87	)%
Operating expenses	56			55			38			53			52			56			52			(4		)	(7	)%	(4		)	(7	)%	(1		)	(2	)%
Pretax operating loss	$	(62	)	$	(57	)	$	(42	)	$	(38	)	$	(50	)	$	(62	)	$	(50	)	$	12		19	%	$	12		19	%	$	(12	)	(32	)%

(1)Calculated using operating earnings subject to the quarterly operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator.

(2)See non-GAAP financial information on pg 33.

(3)Calculated as adjusted operating earnings as a percentage of adjusted operating revenues.

# Variance equal to or greater than 100%.

10

Statistical Supplement Package

(unaudited)

First Quarter 2016

Advice & Wealth Management Segment

11

Ameriprise Financial, Inc.

Advice & Wealth Management Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Operating Income Statements
Revenues
Management and financial advice fees	$	637		$	666		$	658		$	668		$	631		$	637		$	631		$	(6	)	(1	)%	$	(6	)	(1	)%	$	(37	)	(6	)%
Distribution fees	543			561			540			551			514			543			514			(29		)	(5	)%	(29		)	(5	)%	(37		)	(7	)%
Net investment income	35			35			38			38			44			35			44			9			26	%	9			26	%	6			16	%
Premiums	—			—			—			—			—			—			—			—			—		—			—		—			—
Other revenues	20			19			16			18			18			20			18			(2		)	(10	)%	(2		)	(10	)%	—			—
Total revenues	1,235			1,281			1,252			1,275			1,207			1,235			1,207			(28		)	(2	)%	(28		)	(2	)%	(68		)	(5	)%
Banking and deposit interest expense	7			7			7			9			9			7			9			2			29	%	2			29	%	—			—
Operating total net revenues	1,228			1,274			1,245			1,266			1,198			1,228			1,198			(30		)	(2	)%	(30		)	(2	)%	(68		)	(5	)%
Expenses
Distribution expenses	757			783			764			777			732			757			732			(25		)	(3	)%	(25		)	(3	)%	(45		)	(6	)%
Interest credited to fixed accounts	—			—			—			—			—			—			—			—			—		—			—		—			—
Benefits, claims, losses and settlement expenses	—			—			—			—			—			—			—			—			—		—			—		—			—
Amortization of deferred acquisition costs	—			—			—			—			—			—			—			—			—		—			—		—			—
Interest and debt expense	2			2			2			2			2			2			2			—			—		—			—		—			—
General and administrative expense	259			269			260			277			259			259			259			—			—		—			—		(18		)	(6	)%
Operating expenses	1,018			1,054			1,026			1,056			993			1,018			993			(25		)	(2	)%	(25		)	(2	)%	(63		)	(6	)%
Pretax operating earnings	$	210		$	220		$	219		$	210		$	205		$	210		$	205		$	(5	)	(2	)%	$	(5	)	(2	)%	$	(5	)	(2	)%
Pretax operating margin	17.1		%	17.3		%	17.6		%	16.6		%	17.1		%	17.1		%	17.1		%	—					—					0.5		%
Return on Capital
Allocated capital	$	516		$	521		$	528		$	543		$	597		$	516		$	597		$	81		16	%	$	81		16	%	$	54		10	%
Operating return on allocated capital (1)	121.6		%	124.3		%	126.8		%	125.0		%	121.3		%	121.6		%	121.3		%	(0.3		)%			(0.3		)%			(3.7		)%
Brokerage cash balance (2)	$	20,055		$	19,862		$	21,410		$	23,491		$	23,374		$	20,055		$	23,374		$	3,319		17	%	$	3,319		17	%	$	(117	)	—
Brokerage sweep fee	0.21		%	0.22		%	0.23		%	0.25		%	0.44		%	0.21		%	0.44		%	0.23		%			0.23		%			0.19		%
On-balance sheet deposits	$	7,885		$	7,825		$	8,049		$	8,638		$	8,883		$	7,885		$	8,883		$	998		13	%	$	998		13	%	$	245		3	%

(1)Calculated using operating earnings subject to the quarterly operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator.

(2)Brokerage cash includes both off-balance sheet and on-balance sheet deposits.  In the 1st quarter of 2015 through the 1st quarter of 2016, on-balance sheet deposits included in brokerage cash are $3.6B, $3.5B, $3.5B, $3.8B, and $3.7B, respectively.

12

Ameriprise Financial, Inc.

Advice & Wealth Management Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions, except headcount and where noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Product Information
Certificates and Banking - Combined
Pretax operating earnings	$	10		$	15		$	11		$	10		$	13		$	10		$	13		$	3		30	%	$	3		30	%	$	3		30	%
Allocated capital	$	241		$	243		$	251		$	268		$	287		$	241		$	287		$	46		19	%	$	46		19	%	$	19		7	%
Operating return on allocated capital (1)	12.0		%	13.9		%	14.5		%	14.1		%	14.5		%	12.0		%	14.5		%	2.5		%			2.5		%			0.4		%
Wealth Management & Distribution
Pretax operating earnings	$	200		$	205		$	208		$	200		$	192		$	200		$	192		$	(8	)	(4	)%	$	(8	)	(4	)%	$	(8	)	(4	)%
Allocated capital	$	275		$	278		$	277		$	275		$	310		$	275		$	310		$	35		13	%	$	35		13	%	$	35		13	%
Operating return on allocated capital (1)	218.5		%	220.2		%	225.3		%	224.5		%	218.7		%	218.5		%	218.7		%	0.2		%			0.2		%			(5.8		)%
Financial Plans
Branded financial plan net cash sales	$	62		$	65		$	62		$	74		$	64		$	62		$	64		$	2		3	%	$	2		3	%	$	(10	)	(14	)%
Financial Advisors
Employee advisors	2,084			2,082			2,099			2,083			2,046			2,084			2,046			(38		)	(2	)%	(38		)	(2	)%	(37		)	(2	)%
Franchisee advisors	7,607			7,639			7,715			7,706			7,720			7,607			7,720			113			1	%	113			1	%	14			—
Total branded financial advisors	9,691			9,721			9,814			9,789			9,766			9,691			9,766			75			1	%	75			1	%	(23		)	—
Operating total net revenues per financial advisor (in thousands) (2)	$	127		$	131		$	127		$	129		$	123		$	127		$	123		$	(4	)	(3	)%	$	(4	)	(3	)%	$	(6	)	(5	)%
Operating total net revenues per financial advisor-trailing twelve months (in thousands) (3)	$	505		$	512		$	514		$	514		$	510		$	505		$	510		$	5		1	%	$	5		1	%	$	(4	)	(1	)%
Advisor Retention
Employee	91.0		%	91.1		%	91.0		%	91.0		%	90.7		%	91.0		%	90.7		%	(0.3		)%			(0.3		)%			(0.3		)%
Franchisee	94.3		%	94.2		%	94.2		%	94.2		%	93.8		%	94.3		%	93.8		%	(0.5		)%			(0.5		)%			(0.4		)%
Total Client Assets (at period end)	$	452,969		$	453,336		$	433,458		$	447,120		$	451,417		$	452,969		$	451,417		$	(1,552	)	—		$	(1,552	)	—		$	4,297		1	%
Total Wrap Accounts
Beginning assets	$	174,670		$	180,044		$	181,853		$	173,788		$	180,488		$	174,670		$	180,488		$	5,818		3	%	$	5,818		3	%	$	6,700		4	%
Net flows	2,802			3,278			2,980			2,093			1,829			2,802			1,829			(973		)	(35	)%	(973		)	(35	)%	(264		)	(13	)%
Market appreciation (depreciation) and other	2,572			(1,469		)	(11,045		)	4,607			1,042			2,572			1,042			(1,530		)	(59	)%	(1,530		)	(59	)%	(3,565		)	(77	)%
Total wrap ending assets	$	180,044		$	181,853		$	173,788		$	180,488		$	183,359		$	180,044		$	183,359		$	3,315		2	%	$	3,315		2	%	$	2,871		2	%
Advisory wrap account assets ending balance (4)	$	178,749		$	180,451		$	172,342		$	178,879		$	181,580		$	178,749		$	181,580		2,831			2	%	2,831			2	%	2,701			2	%

(1)Calculated using operating earnings subject to the quarterly operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator.

(2)Year-to-date is sum of current and prior quarters for the year under review.

(3)Trailing twelve months is the sum of the last four quarters.

(4)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.

13

Statistical Supplement Package

(unaudited)

First Quarter 2016

Asset Management Segment

14

Ameriprise Financial, Inc.

Asset Management Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Operating Income Statements
Revenues
Management and financial advice fees	$	674		$	696		$	656		$	697		$	602		$	674		$	602		$	(72	)	(11	)%	$	(72	)	(11	)%	$	(95	)	(14	)%
Distribution fees	125			128			123			123			117			125			117			(8		)	(6	)%	(8		)	(6	)%	(6		)	(5	)%
Net investment income	6			4			1			12			3			6			3			(3		)	(50	)%	(3		)	(50	)%	(9		)	(75	)%
Premiums	—			—			—			—			—			—			—			—			—		—			—		—			—
Other revenues	2			4			2			1			2			2			2			—			—		—			—		1			#
Total revenues	807			832			782			833			724			807			724			(83		)	(10	)%	(83		)	(10	)%	(109		)	(13	)%
Banking and deposit interest expense	—			—			—			—			—			—			—			—			—		—			—		—			—
Operating total net revenues	807			832			782			833			724			807			724			(83		)	(10	)%	(83		)	(10	)%	(109		)	(13	)%
Expenses
Distribution expenses	278			278			270			265			247			278			247			(31		)	(11	)%	(31		)	(11	)%	(18		)	(7	)%
Interest credited to fixed accounts	—			—			—			—			—			—			—			—			—		—			—		—			—
Benefits, claims, losses and settlement expenses	—			—			—			—			—			—			—			—			—		—			—		—			—
Amortization of deferred acquisition costs	3			5			4			5			4			3			4			1			33	%	1			33	%	(1		)	(20	)%
Interest and debt expense	6			7			6			6			6			6			6			—			—		—			—		—			—
General and administrative expense	329			345			322			364			318			329			318			(11		)	(3	)%	(11		)	(3	)%	(46		)	(13	)%
Operating expenses	616			635			602			640			575			616			575			(41		)	(7	)%	(41		)	(7	)%	(65		)	(10	)%
Pretax operating earnings	$	191		$	197		$	180		$	193		$	149		$	191		$	149		$	(42	)	(22	)%	$	(42	)	(22	)%	$	(44	)	(23	)%
Pretax operating margin	23.7		%	23.7		%	23.0		%	23.2		%	20.6		%	23.7		%	20.6		%	(3.1		)%			(3.1		)%			(2.6		)%
Operating total net revenues	$	807		$	832		$	782		$	833		$	724		$	807		$	724		$	(83	)	(10	)%	$	(83	)	(10	)%	$	(109	)	(13	)%
Distribution pass thru revenues	(218		)	(219		)	(214		)	(211		)	(199		)	(218		)	(199		)	19			9	%	19			9	%	12			6	%
Subadvisory and other pass thru revenues	(103		)	(102		)	(95		)	(107		)	(87		)	(103		)	(87		)	16			16	%	16			16	%	20			19	%
Adjusted operating revenues (1)	$	486		$	511		$	473		$	515		$	438		$	486		$	438		$	(48	)	(10	)%	$	(48	)	(10	)%	$	(77	)	(15	)%
Pretax operating earnings	$	191		$	197		$	180		$	193		$	149		$	191		$	149		$	(42	)	(22	)%	$	(42	)	(22	)%	$	(44	)	(23	)%
Operating net investment income	(6		)	(4		)	(1		)	(12		)	(3		)	(6		)	(3		)	3			50	%	3			50	%	9			75	%
Amortization of intangibles	8			7			6			6			6			8			6			(2		)	(25	)%	(2		)	(25	)%	—			—
Adjusted operating earnings (1)	$	193		$	200		$	185		$	187		$	152		$	193		$	152		$	(41	)	(21	)%	$	(41	)	(21	)%	$	(35	)	(19	)%
Adjusted net pretax operating margin (1)(2)	39.7		%	39.1		%	39.1		%	36.3		%	34.7		%	39.7		%	34.7		%	(5.0		)%			(5.0		)%			(1.6		)%
Performance Fees (3)
Net performance fees	$	4		$	11		$	1		$	32		$	6		$	4		$	6		$	2		50	%	$	2		50	%	$	(26	)	(81	)%
Return on Capital
Allocated capital	$	1,872		$	1,854		$	1,836		$	1,847		$	1,833		$	1,872		$	1,833		$	(39	)	(2	)%	$	(39	)	(2	)%	$	(14	)	(1	)%
Operating return on allocated capital (4)	31.5		%	31.9		%	31.2		%	31.2		%	29.9		%	31.5		%	29.9		%	(1.6		)%			(1.6		)%			(1.3		)%

(1)See non-GAAP financial information on pg 33.

(2)Calculated as adjusted operating earnings as a percentage of adjusted operating revenues.

(3)Performance fees, which are net of associated compensation, do not include CLO incentive fees.

(4)Calculated using operating earnings subject to the quarterly operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator.

# Variance equal to or greater than 100%.

15

Ameriprise Financial, Inc.

Asset Management Segment

First Quarter 2016

															Prior Year Comparisons
											Year-to-Date				Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015		2 Qtr 2015		3 Qtr 2015		4 Qtr 2015		1 Qtr 2016		2015		2016		Diff.			%		Diff.			%		Diff.			%
Total Managed Assets by Type
Equity	$	279,395	$	276,974	$	248,925	$	255,466	$	244,653	$	279,395	$	244,653	$	(34,742	)	(12	)%	$	(34,742	)	(12	)%	$	(10,813	)	(4	)%
Fixed income	192,009		188,592		184,727		176,596		179,465		192,009		179,465		(12,544		)	(7	)%	(12,544		)	(7	)%	2,869			2	%
Money market	6,918		7,039		6,524		7,467		7,548		6,918		7,548		630			9	%	630			9	%	81			1	%
Alternative	7,372		7,941		8,272		8,198		8,227		7,372		8,227		855			12	%	855			12	%	29			—
Hybrid and other	20,616		22,547		22,630		24,161		24,166		20,616		24,166		3,550			17	%	3,550			17	%	5			—
Total managed assets by type	$	506,310	$	503,093	$	471,078	$	471,888	$	464,059	$	506,310	$	464,059	$	(42,251	)	(8	)%	$	(42,251	)	(8	)%	$	(7,829	)	(2	)%
Average Managed Assets by Type (1)
Equity	$	279,148	$	280,553	$	266,179	$	257,682	$	241,769	$	279,148	$	241,769	$	(37,379	)	(13	)%	$	(37,379	)	(13	)%	$	(15,913	)	(6	)%
Fixed income	193,845		190,643		187,341		180,990		176,789		193,845		176,789		(17,056		)	(9	)%	(17,056		)	(9	)%	(4,201		)	(2	)%
Money market	6,457		6,895		6,715		7,267		7,746		6,457		7,746		1,289			20	%	1,289			20	%	479			7	%
Alternative	7,411		7,814		7,912		8,297		8,139		7,411		8,139		728			10	%	728			10	%	(158		)	(2	)%
Hybrid and other	20,341		21,707		22,805		23,731		23,645		20,341		23,645		3,304			16	%	3,304			16	%	(86		)	—
Total average managed assets by type	$	507,202	$	507,612	$	490,952	$	477,967	$	458,088	$	507,202	$	458,088	$	(49,114	)	(10	)%	$	(49,114	)	(10	)%	$	(19,879	)	(4	)%

(1)Average ending balances are calculated using the average of the prior period’s ending balance and all months in the current period.

16

Ameriprise Financial, Inc.

Asset Management Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Managed Assets Rollforward
Global Retail Funds
Beginning assets	$	281,547		$	283,246		$	280,176		$	258,562		$	263,866		$	281,547		$	263,866		$	(17,681	)	(6	)%	$	(17,681	)	(6	)%	$	5,304		2	%
Inflows	13,991			14,142			11,736			14,329			12,504			13,991			12,504			(1,487		)	(11	)%	(1,487		)	(11	)%	(1,825		)	(13	)%
Outflows	(17,212		)	(17,491		)	(16,274		)	(16,352		)	(15,579		)	(17,212		)	(15,579		)	1,633			9	%	1,633			9	%	773			5	%
Net VP/VIT fund flows	(265		)	(208		)	(163		)	(101		)	(187		)	(265		)	(187		)	78			29	%	78			29	%	(86		)	(85	)%
Net new flows	(3,486		)	(3,557		)	(4,701		)	(2,124		)	(3,262		)	(3,486		)	(3,262		)	224			6	%	224			6	%	(1,138		)	(54	)%
Reinvested dividends	501			3,591			641			8,621			407			501			407			(94		)	(19	)%	(94		)	(19	)%	(8,214		)	(95	)%
Net flows	(2,985		)	34			(4,060		)	6,497			(2,855		)	(2,985		)	(2,855		)	130			4	%	130			4	%	(9,352		)	#
Distributions	(729		)	(4,307		)	(858		)	(10,482		)	(575		)	(729		)	(575		)	154			21	%	154			21	%	9,907			95	%
Market appreciation (depreciation) and other (1)	7,611			(1,583		)	(15,021		)	10,333			770			7,611			770			(6,841		)	(90	)%	(6,841		)	(90	)%	(9,563		)	(93	)%
Foreign currency translation (2)	(2,198		)	2,786			(1,675		)	(1,044		)	(1,360		)	(2,198		)	(1,360		)	838			38	%	838			38	%	(316		)	(30	)%
Total ending assets	283,246			280,176			258,562			263,866			259,846			283,246			259,846			(23,400		)	(8	)%	(23,400		)	(8	)%	(4,020		)	(2	)%
% of total retail assets sub-advised	17.0		%	17.0		%	17.2		%	16.0		%	16.2		%	17.0		%	16.2		%	(0.8		)%			(0.8		)%			0.3		%
Global Institutional
Beginning assets	224,031			223,064			222,917			212,516			208,022			224,031			208,022			(16,009		)	(7	)%	(16,009		)	(7	)%	(4,494		)	(2	)%
Inflows	6,113			7,752			6,921			6,536			7,358			6,113			7,358			1,245			20	%	1,245			20	%	822			13	%
Outflows	(8,949		)	(9,745		)	(10,232		)	(13,725		)	(11,968		)	(8,949		)	(11,968		)	(3,019		)	(34	)%	(3,019		)	(34	)%	1,757			13	%
Net flows	(2,836		)	(1,993		)	(3,311		)	(7,189		)	(4,610		)	(2,836		)	(4,610		)	(1,774		)	(63	)%	(1,774		)	(63	)%	2,579			36	%
Market appreciation (depreciation) and other (3)(4)	6,884			(4,439		)	(3,352		)	4,833			3,567			6,884			3,567			(3,317		)	(48	)%	(3,317		)	(48	)%	(1,266		)	(26	)%
Foreign currency translation (2)	(5,015		)	6,285			(3,738		)	(2,138		)	(2,766		)	(5,015		)	(2,766		)	2,249			45	%	2,249			45	%	(628		)	(29	)%
Total ending assets	223,064			222,917			212,516			208,022			204,213			223,064			204,213			(18,851		)	(8	)%	(18,851		)	(8	)%	(3,809		)	(2	)%
Total managed assets	$	506,310		$	503,093		$	471,078		$	471,888		$	464,059		$	506,310		$	464,059		$	(42,251	)	(8	)%	$	(42,251	)	(8	)%	$	(7,829	)	(2	)%
Total net flows	$	(5,821	)	$	(1,959	)	$	(7,371	)	$	(692	)	$	(7,465	)	$	(5,821	)	$	(7,465	)	$	(1,644	)	(28	)%	$	(1,644	)	(28	)%	$	(6,773	)	#
Former Parent Company Related (5)
Retail net new flows	$	(525	)	$	(439	)	$	(572	)	$	(772	)	$	(256	)	$	(525	)	$	(256	)	$	269		51	%	$	269		51	%	$	516		67	%
Institutional net new flows	(938		)	(3,553		)	(2,017		)	(5,943		)	(4,079		)	(938		)	(4,079		)	(3,141		)	#		(3,141		)	#		1,864			31	%
Total net new flows	$	(1,463	)	$	(3,992	)	$	(2,589	)	$	(6,715	)	$	(4,335	)	$	(1,463	)	$	(4,335	)	$	(2,872	)	#		$	(2,872	)	#		$	2,380		35	%

(1)	Included in Market appreciation (depreciation) and other for retail funds in the 2nd quarter of 2015 are ($0.5B) related to the sale of the Multi-Manager business.
(2)	Amounts represent British Pound to US dollar conversion.
(3)	Included in Market appreciation (depreciation) and other for Global Institutional in the 2nd quarter of 2015 are ($0.1B) due to the transfer of assets from Separately Managed Accounts (SMAs) to Unified Managed Accounts (UMAs).
(4)	Included in Market appreciation (depreciation) and other for Global Institutional is the change in the affiliated general account balance.
(5)	Former parent company related assets and net new flows are included in the rollforwards above.
#	Variance equal to or greater than 100%.

17

Ameriprise Financial, Inc.

Asset Management Segment - Columbia

First Quarter 2016

Mutual Fund Rankings in top 2 Lipper Quartiles

		1 Qtr 2015		2 Qtr 2015		3 Qtr 2015		4 Qtr 2015		1 Qtr 2016
Domestic Equity
Equal weighted	1 year	55	%	59	%	57	%	68	%	68	%
	3 year	65	%	65	%	65	%	68	%	62	%
	5 year	54	%	65	%	57	%	57	%	57	%
Asset weighted	1 year	61	%	64	%	59	%	77	%	80	%
	3 year	64	%	68	%	72	%	76	%	74	%
	5 year	63	%	74	%	70	%	74	%	68	%
International Equity
Equal weighted	1 year	71	%	77	%	68	%	55	%	55	%
	3 year	67	%	77	%	73	%	82	%	68	%
	5 year	63	%	70	%	70	%	65	%	60	%
Asset weighted	1 year	84	%	48	%	35	%	33	%	37	%
	3 year	41	%	47	%	42	%	46	%	39	%
	5 year	41	%	45	%	40	%	41	%	41	%
Taxable Fixed Income
Equal weighted	1 year	65	%	58	%	58	%	68	%	63	%
	3 year	75	%	65	%	59	%	47	%	59	%
	5 year	75	%	71	%	71	%	65	%	71	%
Asset weighted	1 year	77	%	69	%	72	%	73	%	70	%
	3 year	84	%	85	%	82	%	52	%	77	%
	5 year	84	%	86	%	85	%	80	%	83	%
Tax Exempt Fixed Income
Equal weighted	1 year	89	%	94	%	94	%	83	%	89	%
	3 year	100	%	100	%	100	%	100	%	100	%
	5 year	100	%	100	%	100	%	100	%	100	%
Asset weighted	1 year	84	%	99	%	99	%	97	%	92	%
	3 year	100	%	100	%	100	%	100	%	100	%
	5 year	100	%	100	%	100	%	100	%	100	%
Asset Allocation Funds
Equal weighted	1 year	82	%	80	%	90	%	90	%	85	%
	3 year	78	%	56	%	67	%	78	%	100	%
	5 year	89	%	88	%	88	%	88	%	100	%
Asset weighted	1 year	89	%	96	%	100	%	100	%	98	%
	3 year	77	%	62	%	73	%	79	%	100	%
	5 year	97	%	97	%	97	%	98	%	100	%
Number of 4- or 5-star Morningstar rated funds
Overall		48		53		51		55		51
3 year		43		51		52		57		50
5 year		50		48		44		45		46
Percent of 4- or 5-star Morningstar rated funds
Overall		48	%	52	%	50	%	54	%	50	%
3 year		43	%	50	%	51	%	56	%	50	%
5 year		53	%	51	%	46	%	47	%	48	%
Percent of 4- or 5-star Morningstar rated assets
Overall		56	%	58	%	58	%	66	%	61	%
3 year		40	%	48	%	57	%	66	%	61	%
5 year		57	%	55	%	54	%	57	%	61	%

Mutual fund performance rankings are based on the performance of Class Z fund shares for Columbia branded mutual funds.  Only funds with Class Z shares are included.  In instances where a fund’s Class Z share does not have a full five year track record (prior to 9-30-15), performance for an older share class of the same fund, typically Class A shares, is utilized for the period before Class Z shares were launched.  No adjustments to the historical track records are made to account for differences in fund expenses between share classes of a fund.  Starting 9-30-2015, legacy RiverSource funds have reached 5 years of Z share performance and will not be appended.  Historical rankings will continue to be appended.

Equal Weighted Rankings in Top 2 Quartiles:  Counts the number of funds with above median ranking divided by the total number of funds.  Asset size is not a factor.

Asset Weighted Rankings in Top 2 Quartiles:  Sums the total assets of the funds with above median ranking (using Class Z and appended Class Z) divided by total assets of all funds.  Funds with more assets will receive a greater share of the total percentage above or below median.

18

Ameriprise Financial, Inc.

Asset Management Segment - Threadneedle

First Quarter 2016

Retail Fund Rankings in Top 2 Morningstar Quartiles or Above Index Benchmark

		1 Qtr 2015		2 Qtr 2015		3 Qtr 2015		4 Qtr 2015		1 Qtr 2016
Equity
Equal weighted	1 year	71	%	71	%	71	%	65	%	81	%
	3 year	68	%	72	%	74	%	74	%	70	%
	5 year	83	%	81	%	84	%	76	%	78	%
Asset weighted	1 year	78	%	63	%	67	%	68	%	88	%
	3 year	61	%	58	%	68	%	71	%	56	%
	5 year	87	%	86	%	93	%	84	%	86	%
Fixed Income
Equal weighted	1 year	65	%	52	%	56	%	56	%	38	%
	3 year	59	%	64	%	68	%	45	%	59	%
	5 year	68	%	70	%	71	%	67	%	52	%
Asset weighted	1 year	63	%	50	%	66	%	81	%	68	%
	3 year	37	%	39	%	69	%	72	%	83	%
	5 year	47	%	52	%	59	%	61	%	45	%
Allocation (Managed) Funds
Equal weighted	1 year	75	%	63	%	63	%	75	%	88	%
	3 year	83	%	67	%	86	%	86	%	100	%
	5 year	83	%	83	%	83	%	100	%	100	%
Asset weighted	1 year	79	%	75	%	73	%	86	%	93	%
	3 year	93	%	55	%	93	%	92	%	100	%
	5 year	93	%	93	%	93	%	100	%	100	%

The performance of each fund is measured on a consistent basis against the most appropriate benchmark - a peer group of similar funds or an index.

Equal weighted:  Counts the number of funds with above median ranking (if measured against peer group) or above index performance (if measured against an index) divided by the total number of funds.  Asset size is not a factor.

Asset weighted:  Sums the assets of the funds with above median ranking (if measured against peer group) or above index performance (if measured against an index) divided by the total sum of assets in the funds.  Funds with more assets will receive a greater share of the total percentage above or below median or index.

Aggregated Allocation (Managed) Funds include funds that invest in other funds of the Threadneedle range including those funds that invest in both equity and fixed income.

Aggregated Threadneedle data includes funds on the Threadneedle platform sub-advised by Columbia as well as advisors not affiliated with Ameriprise Financial, Inc.

19

Statistical Supplement Package

(unaudited)

First Quarter 2016

Annuities Segment

20

Ameriprise Financial, Inc.

Annuities Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Operating Income Statements
Revenues
Management and financial advice fees	$	190		$	192		$	187		$	186		$	177		$	190		$	177		$	(13	)	(7	)%	$	(13	)	(7	)%	$	(9	)	(5	)%
Distribution fees	89			94			91			90			83			89			83			(6		)	(7	)%	(6		)	(7	)%	(7		)	(8	)%
Net investment income	221			218			208			201			192			221			192			(29		)	(13	)%	(29		)	(13	)%	(9		)	(4	)%
Premiums	22			30			25			30			28			22			28			6			27	%	6			27	%	(2		)	(7	)%
Other revenues	109			117			121			120			116			109			116			7			6	%	7			6	%	(4		)	(3	)%
Total revenues	631			651			632			627			596			631			596			(35		)	(6	)%	(35		)	(6	)%	(31		)	(5	)%
Banking and deposit interest expense	—			—			—			—			—			—			—			—			—		—			—		—			—
Operating total net revenues	631			651			632			627			596			631			596			(35		)	(6	)%	(35		)	(6	)%	(31		)	(5	)%
Expenses
Distribution expenses	108			116			111			111			103			108			103			(5		)	(5	)%	(5		)	(5	)%	(8		)	(7	)%
Interest credited to fixed accounts	127			125			125			123			119			127			119			(8		)	(6	)%	(8		)	(6	)%	(4		)	(3	)%
Benefits, claims, losses and settlement expenses	115			135			89			143			144			115			144			29			25	%	29			25	%	1			1	%
Amortization of deferred acquisition costs	43			59			66			37			45			43			45			2			5	%	2			5	%	8			22	%
Interest and debt expense	10			9			10			9			8			10			8			(2		)	(20	)%	(2		)	(20	)%	(1		)	(11	)%
General and administrative expense	56			57			55			52			53			56			53			(3		)	(5	)%	(3		)	(5	)%	1			2	%
Operating expenses	459			501			456			475			472			459			472			13			3	%	13			3	%	(3		)	(1	)%
Pretax operating earnings	$	172		$	150		$	176		$	152		$	124		$	172		$	124		$	(48	)	(28	)%	$	(48	)	(28	)%	$	(28	)	(18	)%
Pretax operating margin	27.3		%	23.0		%	27.8		%	24.2		%	20.8		%	27.3		%	20.8		%	(6.5		)%			(6.5		)%			(3.4		)%
Return on Capital
Allocated capital	$	1,987		$	1,941		$	1,900		$	1,893		$	1,897		$	1,987		$	1,897		$	(90	)	(5	)%	$	(90	)	(5	)%	$	4		—
Operating return on allocated capital (1)	20.7		%	22.1		%	25.6		%	25.5		%	24.1		%	20.7		%	24.1		%	3.4		%			3.4		%			(1.4		)%
Market impact on variable annuity guaranteed benefits (2)
Risk margin and nonperformance spread impact	$	17		$	(5	)	$	98		$	(61	)	$	141		$	17		$	141		$	124		#		$	124		#		$	202		#
Other	(51		)	(31		)	(103		)	(78		)	(124		)	(51		)	(124		)	(73		)	#		(73		)	#		(46		)	(59	)%
Total VA guaranteed benefit impact excluded from operating earnings	$	(34	)	$	(36	)	$	(5	)	$	(139	)	$	17		$	(34	)	$	17		$	51		#		$	51		#		$	156		#
Total annuity net flows	$	(950	)	$	(901	)	$	(634	)	$	(541	)	$	(560	)	$	(950	)	$	(560	)	$	390		41	%	$	390		41	%	$	(19	)	(4	)%

(1)Calculated using operating earnings subject to the quarterly operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator.

(2)Guaranteed Minimum Withdrawal Benefit (GMWB) and Guaranteed Minimum Accumulation Benefit (GMAB) only, net of variable annuity guarantee hedges, DSIC and DAC amortization.

#Variance equal to or greater than 100%.

21

Ameriprise Financial, Inc.

Annuities Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Product Information
Variable Annuities
Pretax operating earnings	$	144		$	120		$	151		$	129		$	100		$	144		$	100		$	(44	)	(31	)%	$	(44	)	(31	)%	$	(29	)	(22	)%
Allocated capital (1)	$	650		$	650		$	650		$	650		$	650		$	650		$	650		$	—		—		$	—		—		$	—		—
Operating return on allocated capital (2)	41.2		%	48.0		%	64.8		%	63.9		%	59.2		%	41.2		%	59.2		%	18.0		%			18.0		%			(4.7		)%
Fixed Annuities (3)
Pretax operating earnings	$	28		$	30		$	25		$	23		$	24		$	28		$	24		$	(4	)	(14	)%	$	(4	)	(14	)%	$	1		4	%
Allocated capital	$	1,337		$	1,291		$	1,250		$	1,243		$	1,247		$	1,337		$	1,247		$	(90	)	(7	)%	$	(90	)	(7	)%	$	4		—
Operating return on allocated capital (2)	7.6		%	7.9		%	6.9		%	6.2		%	6.1		%	7.6		%	6.1		%	(1.5		)%			(1.5		)%			(0.1		)%
Variable Annuities Rollforward
Beginning balance	$	76,988		$	77,934		$	77,137		$	72,843		$	74,244		$	76,988		$	74,244		$	(2,744	)	(4	)%	$	(2,744	)	(4	)%	$	1,401		2	%
Deposits	1,182			1,366			1,340			1,340			1,147			1,182			1,147			(35		)	(3	)%	(35		)	(3	)%	(193		)	(14	)%
Withdrawals and terminations	(1,567		)	(1,704		)	(1,599		)	(1,585		)	(1,458		)	(1,567		)	(1,458		)	109			7	%	109			7	%	127			8	%
Net flows	(385		)	(338		)	(259		)	(245		)	(311		)	(385		)	(311		)	74			19	%	74			19	%	(66		)	(27	)%
Investment performance and interest credited	1,331			(459		)	(4,035		)	1,646			274			1,331			274			(1,057		)	(79	)%	(1,057		)	(79	)%	(1,372		)	(83	)%
Total ending balance - contract accumulation values	$	77,934		$	77,137		$	72,843		$	74,244		$	74,207		$	77,934		$	74,207		$	(3,727	)	(5	)%	$	(3,727	)	(5	)%	$	(37	)	—
Variable annuities fixed sub-accounts	$	4,848		$	4,874		$	4,913		$	4,911		$	4,966		$	4,848		$	4,966		$	118		2	%	$	118		2	%	$	55		1	%
Fixed Annuities Rollforward
Beginning balance	$	12,137		$	11,658		$	11,179		$	10,886		$	10,673		$	12,137		$	10,673		$	(1,464	)	(12	)%	$	(1,464	)	(12	)%	$	(213	)	(2	)%
Deposits	36			35			52			63			66			36			66			30			83	%	30			83	%	3			5	%
Withdrawals and terminations	(601		)	(598		)	(427		)	(359		)	(315		)	(601		)	(315		)	286			48	%	286			48	%	44			12	%
Net flows	(565		)	(563		)	(375		)	(296		)	(249		)	(565		)	(249		)	316			56	%	316			56	%	47			16	%
Policyholder interest credited	86			84			82			83			79			86			79			(7		)	(8	)%	(7		)	(8	)%	(4		)	(5	)%
Total ending balance - contract accumulation values	$	11,658		$	11,179		$	10,886		$	10,673		$	10,503		$	11,658		$	10,503		$	(1,155	)	(10	)%	$	(1,155	)	(10	)%	$	(170	)	(2	)%
Capitalized interest	$	1		$	—		$	1		$	—		$	1		$	1		$	1		$	—		—		$	—		—		$	1		—
Payout Annuities Reserve Balance	$	2,088		$	2,088		$	2,090		$	2,094		$	2,090		$	2,088		$	2,090		$	2		—		$	2		—		$	(4	)	—
Tax Equivalent Spread - Fixed Annuities (4)
Gross rate of return on invested assets (5)	4.7		%	4.8		%	4.7		%	4.7		%	4.6		%	4.7		%	4.6		%	(0.1		)%			(0.1		)%			(0.1		)%
Crediting rate excluding capitalized interest	(3.0		)%	(3.0		)%	(3.0		)%	(3.0		)%	(3.0		)%	(3.0		)%	(3.0		)%	—					—					—
Tax equivalent margin spread	1.7		%	1.8		%	1.7		%	1.7		%	1.6		%	1.7		%	1.6		%	(0.1		)%			(0.1		)%			(0.1		)%
Total Variable Annuities DAC
Beginning balance	$	1,663		$	1,670		$	1,684		$	1,665		$	1,718		$	1,663		$	1,718		$	55		3	%	$	55		3	%	$	53		3	%
Capitalization	39			50			48			49			42			39			42			3			8	%	3			8	%	(7		)	(14	)%
Non-operating amortization	4			4			(7		)	26			(16		)	4			(16		)	(20		)	#		(20		)	#		(42		)	#
Amortization per income statement	(33		)	(51		)	(62		)	(32		)	(40		)	(33		)	(40		)	(7		)	(21	)%	(7		)	(21	)%	(8		)	(25	)%
Other	(3		)	11			2			10			(13		)	(3		)	(13		)	(10		)	#		(10		)	#		(23		)	#
Total ending balance	$	1,670		$	1,684		$	1,665		$	1,718		$	1,691		$	1,670		$	1,691		$	21		1	%	$	21		1	%	$	(27	)	(2	)%
Total Fixed Annuities DAC
Beginning balance	$	67		$	59		$	69		$	72		$	87		$	67		$	87		$	20		30	%	$	20		30	%	$	15		21	%
Capitalization	1			—			1			1			1			1			1			—			—		—			—		—			—
Non-operating amortization	—			—			—			—			—			—			—			—			—		—			—		—			—
Amortization per income statement	(10		)	(8		)	(4		)	(5		)	(5		)	(10		)	(5		)	5			50	%	5			50	%	—			—
Other	1			18			6			19			(13		)	1			(13		)	(14		)	#		(14		)	#		(32		)	#
Total ending balance	$	59		$	69		$	72		$	87		$	70		$	59		$	70		$	11		19	%	$	11		19	%	$	(17	)	(20	)%

(1)The variable annuity allocated capital calculation takes into account the capital necessary to support the business, recognizing the established reserves and potential future interest rate changes, and includes $250M of additional contingent capital above required levels for all periods shown.

(2)Calculated using operating earnings subject to the quarterly operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator.

(3)Includes payout annuities.

(4)Attributable to interest sensitive products only, which has been approximately 99% of the total ending fixed annuities accumulation values in the periods reported.  The asset earnings rate is a calculated yield based on specifically assigned assets.

(5)In the 1st quarter of 2015 through the 1st quarter of 2016, the Gross rates of return on invested assets were impacted by outstanding repurchase agreements.  Without these positions, the Gross rates of return on invested assets would have been 4.6%, 4.7%, 4.6%, 4.6% and 4.5% respectively.

# Variance equal to or greater than 100%.

22

Statistical Supplement Package

(unaudited)

First Quarter 2016

Protection Segment

23

Ameriprise Financial, Inc.

Protection Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Operating Income Statements
Revenues
Management and financial advice fees	$	15		$	13		$	14		$	13		$	13		$	15		$	13		$	(2	)	(13	)%	$	(2	)	(13	)%	$	—		—
Distribution fees	23			24			24			26			23			23			23			—			—		—			—		(3		)	(12	)%
Net investment income	114			118			118			118			119			114			119			5			4	%	5			4	%	1			1	%
Premiums	335			341			339			348			345			335			345			10			3	%	10			3	%	(3		)	(1	)%
Other revenues	103			104			91			103			108			103			108			5			5	%	5			5	%	5			5	%
Total revenues	590			600			586			608			608			590			608			18			3	%	18			3	%	—			—
Banking and deposit interest expense	—			—			—			—			—			—			—			—			—		—			—		—			—
Operating total net revenues	590			600			586			608			608			590			608			18			3	%	18			3	%	—			—
Expenses
Distribution expenses	13			16			12			18			12			13			12			(1		)	(8	)%	(1		)	(8	)%	(6		)	(33	)%
Interest credited to fixed accounts	40			39			42			43			43			40			43			3			8	%	3			8	%	—			—
Benefits, claims, losses and settlement expenses	380			368			384			406			371			380			371			(9		)	(2	)%	(9		)	(2	)%	(35		)	(9	)%
Amortization of deferred acquisition costs	36			35			50			34			39			36			39			3			8	%	3			8	%	5			15	%
Interest and debt expense	8			8			9			7			9			8			9			1			13	%	1			13	%	2			29	%
General and administrative expense	62			62			64			65			65			62			65			3			5	%	3			5	%	—			—
Operating expenses	539			528			561			573			539			539			539			—			—		—			—		(34		)	(6	)%
Pretax operating earnings	$	51		$	72		$	25		$	35		$	69		$	51		$	69		$	18		35	%	$	18		35	%	$	34		97	%
Pretax operating margin	8.6		%	12.0		%	4.3		%	5.8		%	11.3		%	8.6		%	11.3		%	2.7		%			2.7		%			5.5		%
Return on Capital
Allocated capital	$	1,975		$	2,014		$	2,009		$	2,045		$	2,104		$	1,975		$	2,104		$	129		7	%	$	129		7	%	$	59		3	%
Operating return on allocated capital (1)	9.1		%	8.4		%	6.8		%	6.9		%	7.6		%	9.1		%	7.6		%	(1.5		)%			(1.5		)%			0.7		%
Market impact on indexed universal life benefits (2)
Risk margin and nonperformance spread impact	$	—		$	(1	)	$	(6	)	$	7		$	(13	)	$	—		$	(13	)	$	(13	)	—		$	(13	)	—		$	(20	)	#
Other	(6		)	6			5			(6		)	32			(6		)	32			38			#		38			#		38			#
Total market impact on indexed universal life benefits excluded from operating earnings	$	(6	)	$	5		$	(1	)	$	1		$	19		$	(6	)	$	19		$	25		#		$	25		#		$	18		#
Product Information
Long Term Care
Pretax operating earnings	$	(31	)	$	15		$	7		$	(6	)	$	1		$	(31	)	$	1		$	32		#		$	32		#		$	7		#
Allocated capital	$	556		$	580		$	568		$	591		$	600		$	556		$	600		$	44		8	%	$	44		8	%	$	9		2	%
Operating return on allocated capital (1)	(4.7		)%	(2.8		)%	(1.1		)%	(1.9		)%	2.2		%	(4.7		)%	2.2		%	6.9		%			6.9		%			4.1		%
Protection excluding Long Term Care
Pretax operating earnings	$	82		$	57		$	18		$	41		$	68		$	82		$	68		$	(14	)	(17	)%	$	(14	)	(17	)%	$	27		66	%
Allocated capital	$	1,419		$	1,434		$	1,441		$	1,454		$	1,504		$	1,419		$	1,504		$	85		6	%	$	85		6	%	$	50		3	%
Operating return on allocated capital (1)	14.4		%	12.7		%	9.9		%	10.4		%	9.7		%	14.4		%	9.7		%	(4.7		)%			(4.7		)%			(0.7		)%

(1)Calculated using operating earnings subject to the quarterly operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator.

(2)Market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual.

# Variance equal to or greater than 100%.

24

Ameriprise Financial, Inc.

Protection Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Cash Sales
VUL / UL (1)	$	66		$	86		$	81		$	91		$	66		$	66		$	66		$	—		—		$	—		—		$	(25	)	(27	)%
Term and whole life	2			2			2			3			2			2			2			—			—		—			—		(1		)	(33	)%
Disability insurance	1			1			1			2			1			1			1			—			—		—			—		(1		)	(50	)%
Auto and home	262			270			288			267			256			262			256			(6		)	(2	)%	(6		)	(2	)%	(11		)	(4	)%
Total cash sales	$	331		$	359		$	372		$	363		$	325		$	331		$	325		$	(6	)	(2	)%	$	(6	)	(2	)%	$	(38	)	(10	)%
VUL / UL Policyholder Account Balances
Beginning balance	$	11,283		$	11,421		$	11,408		$	10,931		$	11,170		$	11,283		$	11,170		$	(113	)	(1	)%	$	(113	)	(1	)%	$	239		2	%
Premiums and deposits	246			260			255			281			240			246			240			(6		)	(2	)%	(6		)	(2	)%	(41		)	(15	)%
Investment performance and interest	186			30			(431		)	260			47			186			47			(139		)	(75	)%	(139		)	(75	)%	(213		)	(82	)%
Withdrawals and surrenders	(294		)	(304		)	(301		)	(300		)	(288		)	(294		)	(288		)	6			2	%	6			2	%	12			4	%
Other	—			1			—			(2		)	1			—			1			1			—		1			—		3			#
Total ending balance	$	11,421		$	11,408		$	10,931		$	11,170		$	11,170		$	11,421		$	11,170		$	(251	)	(2	)%	$	(251	)	(2	)%	$	—		—
Premiums by Product
Term and whole life	$	11		$	12		$	6		$	11		$	11		$	11		$	11		$	—		—		$	—		—		$	—		—
Disability insurance	37			38			37			37			36			37			36			(1		)	(3	)%	(1		)	(3	)%	(1		)	(3	)%
Long term care	27			27			27			29			27			27			27			—			—		—			—		(2		)	(7	)%
Auto and home	254			259			264			266			265			254			265			11			4	%	11			4	%	(1		)	—
Intercompany premiums	6			5			5			5			6			6			6			—			—		—			—		1			20	%
Total premiums by product	$	335		$	341		$	339		$	348		$	345		$	335		$	345		$	10		3	%	$	10		3	%	$	(3	)	(1	)%
Auto and Home Insurance
Policy count (thousands)	943			952			958			957			957			943			957			14			1	%	14			1	%	—			—
Loss ratio	90.1		%	97.5		%	93.2		%	109.7		%	91.8		%	90.1		%	91.8		%	1.7		%			1.7		%			(17.9		)%
Expense ratio (2)	16.8		%	16.7		%	16.8		%	16.9		%	18.4		%	16.8		%	18.4		%	1.6		%			1.6		%			1.5		%
Combined ratio	106.9		%	114.2		%	110.0		%	126.6		%	110.2		%	106.9		%	110.2		%	3.3		%			3.3		%			(16.4		)%
DAC Rollforward
Life and Health
Beginning balance	$	851		$	845		$	876		$	867		$	889		$	851		$	889		$	38		4	%	$	38		4	%	$	22		3	%
Capitalization	20			20			22			24			20			20			20			—			—		—			—		(4		)	(17	)%
Non-operating amortization	3			1			(6		)	(2		)	(6		)	3			(6		)	(9		)		#	(9		)	#		(4		)	#
Amortization per income statement	(20		)	(19		)	(34		)	(17		)	(22		)	(20		)	(22		)	(2		)	(10	)%	(2		)	(10	)%	(5		)	(29	)%
Other	(9		)	29			9			17			(21		)	(9		)	(21		)	(12		)	#		(12		)	#		(38		)	#
Total ending balance	$	845		$	876		$	867		$	889		$	860		$	845		$	860		$	15		2	%	$	15		2	%	$	(29	)	(3	)%
Life Insurance in Force	$	195,694		$	195,838		$	195,862		$	196,339		$	196,153		$	195,694		$	196,153		$	459		—		$	459		—		$	(186	)	—
Net Amount at Risk	$	40,331		$	40,340		$	40,789		$	40,783		$	40,361		$	40,331		$	40,361		$	30		—		$	30		—		$	(422	)	(1	)%
Net Policyholder Reserves
VUL / UL	$	10,631		$	10,621		$	10,148		$	10,380		$	10,379		$	10,631		$	10,379		$	(252	)	(2	)%	$	(252	)	(2	)%	$	(1	)	—
Term and whole life	215			214			213			207			206			215			206			(9		)	(4	)%	(9		)	(4	)%	(1		)	—
Disability insurance	532			533			527			527			520			532			520			(12		)	(2	)%	(12		)	(2	)%	(7		)	(1	)%
Long term care and other	2,778			2,766			2,770			2,788			2,797			2,778			2,797			19			1	%	19			1	%	9			—
Auto and home loss and LAE reserves	493			507			504			569			596			493			596			103			21	%	103			21	%	27			5	%
Total net policyholder reserves	$	14,649		$	14,641		$	14,162		$	14,471		$	14,498		$	14,649		$	14,498		$	(151	)	(1	)%	$	(151	)	(1	)%	$	27		—

(1)Includes lump sum deposits.

(2)In the 1st quarter of 2016, the expense ratio calculation was modified to be in line with industry standards based on net earned premium.  All prior periods have been restated.

# Variance equal to or greater than 100%.

25

Statistical Supplement Package

(unaudited)

First Quarter 2016

Corporate & Other Segment

26

Ameriprise Financial, Inc.

Corporate & Other Segment

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Operating Income Statements
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		—		$	—		—		$	—		—
Distribution fees	—			—			—			—			—			—			—			—			—		—			—		—			—
Net investment income	(7		)	(10		)	(5		)	12			1			(7		)	1			8			#		8			#		(11		)	(92	)%
Premiums	—			—			—			—			—			—			—			—			—		—			—		—			—
Other revenues	1			8			1			3			1			1			1			—			—		—			—		(2		)	(67	)%
Total revenues	(6		)	(2		)	(4		)	15			2			(6		)	2			8			#		8			#		(13		)	(87	)%
Banking and deposit interest expense	—			—			—			—			—			—			—			—			—		—			—		—			—
Operating total net revenues	(6		)	(2		)	(4		)	15			2			(6		)	2			8			#		8			#		(13		)	(87	)%
Expenses
Distribution expenses	—			—			—			—			—			—			—			—			—		—			—		—			—
Interest credited to fixed accounts	—			—			—			—			—			—			—			—			—		—			—		—			—
Benefits, claims, losses and settlement expenses	—			—			—			—			—			—			—			—			—		—			—		—			—
Amortization of deferred acquisition costs	—			—			—			—			—			—			—			—			—		—			—		—			—
Interest and debt expense	5			4			3			10			4			5			4			(1		)	(20	)%	(1		)	(20	)%	(6		)	(60	)%
General and administrative expense	51			51			35			43			48			51			48			(3		)	(6	)%	(3		)	(6	)%	5			12	%
Operating expenses	56			55			38			53			52			56			52			(4		)	(7	)%	(4		)	(7	)%	(1		)	(2	)%
Pretax operating loss	$	(62	)	$	(57	)	$	(42	)	$	(38	)	$	(50	)	$	(62	)	$	(50	)	$	12		19	%	$	12		19	%	$	(12	)	(32	)%

# Variance equal to or greater than 100%.

27

Ameriprise Financial, Inc.

Eliminations (1)

First Quarter 2016

																						Prior Year Comparisons
																Year-to-Date						Qtr Chg - 1Q					YTD Chg - 1Q					Seq Qtr Chg - 1Q
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016			Diff.			%		Diff.			%		Diff.			%
Operating Income Statements
Revenues
Management and financial advice fees	$	(34	)	$	(34	)	$	(35	)	$	(34	)	$	(33	)	$	(34	)	$	(33	)	$	1		3	%	$	1		3	%	$	1		3	%
Distribution fees	(314		)	(335		)	(327		)	(332		)	(302		)	(314		)	(302		)	12			4	%	12			4	%	30			9	%
Net investment income	—			—			—			(1		)	—			—			—			—			—		—			—		1			#
Premiums	(4		)	(3		)	(4		)	(4		)	(5		)	(4		)	(5		)	(1		)	(25	)%	(1		)	(25	)%	(1		)	(25	)%
Other revenues	—			—			—			—			—			—			—			—			—		—			—		—			—
Total revenues	(352		)	(372		)	(366		)	(371		)	(340		)	(352		)	(340		)	12			3	%	12			3	%	31			8	%
Banking and deposit interest expense	—			—			—			—			—			—			—			—			—		—			—		—			—
Operating total net revenues	(352		)	(372		)	(366		)	(371		)	(340		)	(352		)	(340		)	12			3	%	12			3	%	31			8	%
Expenses
Distribution expenses	(337		)	(358		)	(351		)	(355		)	(324		)	(337		)	(324		)	13			4	%	13			4	%	31			9	%
Interest credited to fixed accounts	—			—			—			—			—			—			—			—			—		—			—		—			—
Benefits, claims, losses and settlement expenses	—			—			—			—			—			—			—			—			—		—			—		—			—
Amortization of deferred acquisition costs	—			—			—			—			—			—			—			—			—		—			—		—			—
Interest and debt expense	—			—			—			—			—			—			—			—			—		—			—		—			—
General and administrative expense	(15		)	(14		)	(15		)	(16		)	(16		)	(15		)	(16		)	(1		)	(7	)%	(1		)	(7	)%	—			—
Operating expenses	(352		)	(372		)	(366		)	(371		)	(340		)	(352		)	(340		)	12			3	%	12			3	%	31			8	%
Pretax operating earnings	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		—		$	—		—		$	—		—

(1)  The majority of the amounts represent the impact of inter-segment transfer pricing for both revenues and expenses.

# Variance equal to or greater than 100%.

28

Statistical Supplement Package

(unaudited)

First Quarter 2016

Balance Sheet and Ratings Information

29

Ameriprise Financial, Inc.

Consolidated Balance Sheets

First Quarter 2016

(in millions, unaudited)	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015			March 31, 2016
Assets
Cash and cash equivalents	$	2,809		$	2,570		$	2,780		$	2,357		$	2,649
Cash of consolidated investment entities	338			471			790			502			146
Investments	35,726			34,896			34,746			34,144			34,643
Investments of consolidated investment entities	6,090			6,594			6,977			6,570			2,511
Separate account assets	84,243			83,704			78,636			80,349			80,182
Receivables	5,063			5,178			5,187			5,167			5,232
Receivables of consolidated investment entities	77			89			102			107			63
Deferred acquisition costs	2,602			2,658			2,634			2,725			2,650
Restricted and segregated cash and investments	2,714			2,491			2,703			2,949			2,900
Other assets (1)	9,879			8,150			8,609			8,384			9,274
Other assets of consolidated investment entities (1)	1,879			1,979			2,129			2,065			—
Total Assets	$	151,420		$	148,780		$	145,293		$	145,319		$	140,250
Liabilities
Policyholder account balances, future policy benefits and claims	$	30,482		$	29,345		$	30,046		$	29,699		$	30,515
Separate account liabilities	84,243			83,704			78,636			80,349			80,182
Customer deposits	7,878			7,820			8,046			8,634			8,876
Short-term borrowings	200			200			200			200			200
Long-term debt (1)	3,049			3,039			3,003			2,692			2,683
Debt of consolidated investment entities (1)	6,768			7,343			7,915			7,531			2,673
Accounts payable and accrued expenses	1,275			1,341			1,435			1,552			1,254
Accounts payable and accrued expenses of consolidated investment entities	46			53			62			54			—
Other liabilities	8,068			6,669			6,567			5,965			6,745
Other liabilities of consolidated investment entities	152			270			562			238			29
Total Liabilities	142,161			139,784			136,472			136,914			133,157
Equity
Ameriprise Financial
Common shares ($.01 par)	3			3			3			3			3
Additional paid-in capital	7,423			7,500			7,557			7,611			7,610
Retained earnings	8,752			9,043			9,319			9,551			9,799
Appropriated retained earnings of consolidated investment entities	279			257			174			137			—
Treasury stock	(8,966		)	(9,428		)	(9,885		)	(10,338		)	(10,761		)
Accumulated other comprehensive income, net of tax	704			500			461			253			442
Total Ameriprise Financial Shareholders' Equity	8,195			7,875			7,629			7,217			7,093
Noncontrolling interests	1,064			1,121			1,192			1,188			—
Total Equity	9,259			8,996			8,821			8,405			7,093
Total Liabilities and Equity	$	151,420		$	148,780		$	145,293		$	145,319		$	140,250

(1)       In the first quarter of 2016, debt issuance costs were reclassified from Other assets to Long-term debt.  All perior periods have been restated.

30

Ameriprise Financial, Inc.

Capital and Ratings Information

First Quarter 2016

(in millions unless otherwise noted, unaudited)	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015			March 31, 2016
Long-term Debt Summary
Senior notes	$	2,700		$	2,700		$	2,700		$	2,350		$	2,350
Junior subordinated notes	294			294			253			245			229
Capital lease obligations	—			—			—			60			58
Fair value of hedges, unamortized discount and debt issuance costs (1)	55			45			50			37			46
Total Ameriprise Financial long-term debt	3,049			3,039			3,003			2,692			2,683
Non-recourse debt of consolidated investment entities (1)	6,768			7,343			7,915			7,531			2,673
Total long-term debt	$	9,817		$	10,382		$	10,918		$	10,223		$	5,356
Total Ameriprise Financial long-term debt	$	3,049		$	3,039		$	3,003		$	2,692		$	2,683
Fair value of hedges, unamortized discount and debt issuance costs (1)	(55		)	(45		)	(50		)	(37		)	(46		)
Capital lease obligations	—			—			—			(60		)	(58		)
Total Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and capital lease obligations (2)	$	2,994		$	2,994		$	2,953		$	2,595		$	2,579
Total equity (3)	$	9,259		$	8,996		$	8,821		$	8,405		$	7,093
Noncontrolling interests	(1,064		)	(1,121		)	(1,192		)	(1,188		)	—
Total Ameriprise Financial shareholders' equity	8,195			7,875			7,629			7,217			7,093
Equity of consolidated investment entities	(266		)	(243		)	(162		)	(131		)	(1		)
Total Ameriprise Financial shareholders' equity excluding CIEs (2)	$	7,929		$	7,632		$	7,467		$	7,086		$	7,092
Total Ameriprise Financial capital	$	11,244		$	10,914		$	10,632		$	9,909		$	9,776
Total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs (2)	$	10,923		$	10,626		$	10,420		$	9,681		$	9,671
Debt to capital
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital	27.1		%	27.8		%	28.2		%	27.2		%	27.4		%
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs (2)	27.4		%	28.2		%	28.3		%	26.8		%	26.7		%

Ratings (as of March 31, 2016 earnings release date)	A.M. Best Company	Standard & Poor’s Rating Services	Moody’s Investors Service, Inc.
Claims Paying Ratings (4)
RiverSource Life Insurance Company	A+	AA-	Aa3
IDS Property Casualty Ins. Company	A	N/R	N/R
Debt Ratings (4)
Ameriprise Financial, Inc.	a-	A	A3

(1)  In the first quarter of 2016, debt issuance costs were reclassified from Other assets to Long-term debt.  All perior periods have been restated.

(2)  See non-GAAP financial information on pg 33.  Non-GAAP financial measure reconciliations can be found on page 45.

(3)  Includes accumulated other comprehensive income, net of tax.

(4)  For the most current ratings information, please see the individual rating agency's website.

N/R - Not Rated.

31

Ameriprise Financial, Inc.

Ameriprise Financial Investments (1)

First Quarter 2016

(in millions unless otherwise noted, unaudited)	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015			March 31, 2016
Cash and cash equivalents	$	2,809		$	2,570		$	2,780		$	2,357		$	2,649
Investments - Ending Balances
Available-for-Sale Securities
Corporate debt securities	17,218			16,919			16,898			16,348			16,603
Residential mortgage backed securities	6,270			6,121			6,008			5,973			6,138
Commercial mortgage backed securities	2,694			2,562			2,499			2,456			2,617
Asset backed securities	1,405			1,321			1,302			1,296			1,389
Total mortgage and other asset backed securities	10,369			10,004			9,809			9,725			10,144
State and municipal obligations	2,243			2,190			2,259			2,290			2,385
US government and agencies obligations	56			56			72			68			59
Foreign government bonds and obligations	245			239			230			224			272
Common and preferred stocks	19			19			18			18			17
Total other	2,563			2,504			2,579			2,600			2,733
Total available-for-sale securities	30,150			29,427			29,286			28,673			29,480
Commercial mortgage loans	2,683			2,735			2,757			2,755			2,747
Allowance for loan losses	(23		)	(23		)	(22		)	(21		)	(21		)
Commercial mortgage loans, net	2,660			2,712			2,735			2,734			2,726
Residential mortgage loans	710			679			649			627			330
Allowance for loan losses	(2		)	(3		)	(2		)	(2		)	(1		)
Residential mortgage loans, net	708			676			647			625			329
Policy loans	813			817			824			824			828
Other investments	1,395			1,264			1,254			1,288			1,280
Total investments	35,726			34,896			34,746			34,144			34,643
Total cash, cash equivalents and investments	$	38,535		$	37,466		$	37,526		$	36,501		$	37,292
Net unrealized gain Available-for-Sale Securities	$	2,178		$	1,500		$	1,393		$	921		$	1,426
AFS Fixed Maturity Asset Quality - %
AAA	26		%	25		%	25		%	25		%	26		%
AA	6		%	6		%	6		%	7		%	6		%
AFS securities AA and above	32		%	31		%	31		%	32		%	32		%
A	21		%	21		%	20		%	19		%	19		%
BBB	41		%	42		%	44		%	43		%	42		%
Below investment grade	6		%	6		%	5		%	6		%	7		%
Total AFS fixed maturity asset quality - %	100		%	100		%	100		%	100		%	100		%
Fair Value of Below Investment Grade Investments as a % of Total Cash and Investments	6		%	6		%	5		%	6		%	7		%

(1)Investments excluding investments of CIEs.

32

Ameriprise Financial, Inc.

Non-GAAP Financial Information

Ameriprise Financial, Inc. (the Company) prepares its financial statements in accordance with accounting principles generally accepted in the United States (U.S. GAAP).  This report includes information on both a U.S. GAAP and non-GAAP basis.  Management believes that the presentation of these non-GAAP financial measures best reflect the underlying performance of the Company and facilitate a more meaningful trend analysis.  Management uses certain of these non-GAAP measures to evaluate our financial performance on a basis comparable to that used by some securities analysts and investors. Also, certain of these non-GAAP measures are taken into consideration, to varying degrees, for purposes of business planning and analysis and certain compensation-related matters.  See the reconciliations on pages 6, 15, 44 and 45.

These non-GAAP measures include:

· Adjusted net pretax operating margin;

· Adjusted operating earnings;

· Adjusted operating revenues;

· Ameriprise Financial shareholders’ equity excluding AOCI;

· Ameriprise Financial shareholders’ equity excluding CIEs;

· Ameriprise Financial shareholders’ equity excluding CIEs and AOCI;

· Basic operating earnings per share;

· Effective tax rate excluding noncontrolling interests;

· Operating earnings;

· Operating earnings per diluted share;

· Operating effective tax rate;

· Operating return on equity excluding AOCI;

· Operating total net revenues;

· Pretax operating earnings;

· Pretax operating margin;

· Return on equity excluding AOCI;

· Total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs;

· Total Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and capital lease obligations;

· Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs

Reclassification

Certain prior period information has been restated to conform to current period presentation.

33

Ameriprise Financial, Inc.

Glossary of Selected Terminology - Segments

Advice & Wealth Management - This segment provides financial planning and advice, as well as full service brokerage services, primarily to retail clients through our advisors. These services are centered on long-term, personal relationships between our advisors and our clients and focus on helping clients confidently achieve their financial goals. Our advisors provide a distinctive approach to financial planning and have access to a broad selection of both affiliated and non-affiliated products to help clients meet their financial needs. A significant portion of revenues in this segment is fee-based, driven by the level of client assets, which is impacted by both market movements and net asset flows. We also earn net investment income on owned assets primarily from certificate products. This segment earns revenues (distribution fees) for providing non-affiliated products and intersegment revenues (distribution fees) for providing our affiliated products and services to our retail clients. Intersegment expenses for this segment include expenses for investment management services provided by our Asset Management segment. This segment also includes the results of operation for Ameriprise National Trust Bank, which terminated its deposit-taking and credit-originating activities in the fourth quarter of 2012.

Asset Management - This segment provides investment advice and investment products to retail, high net worth and institutional clients on a global scale through Columbia Threadneedle Investments. We provide clients with U.S. domestic individual products through unaffiliated third-party financial institutions and through our Advice & Wealth Management segment, and we provide institutional products and services through our institutional sales force. International retail products are primarily distributed through third-party financial institutions and unaffiliated financial advisors. Individual products include U.S. mutual funds and their non-U.S. equivalents, exchange-traded funds and variable product funds underlying insurance and annuity separate accounts. Institutional asset management services are designed to meet specific client objectives and may involve a range of products, including those that focus on traditional asset classes, separately managed accounts, collateralized loan obligations, hedge funds, collective funds and property funds. Collateralized loan obligations, hedge funds and certain private funds are often classified as alternative assets. Revenues in this segment are primarily earned as fees based on managed asset balances, which are impacted by market movements, net asset flows, asset allocation and product mix. We may also earn performance fees from certain accounts where investment performance meets or exceeds certain pre-identified targets. In addition our Asset Management segment provides all intercompany asset management services for Ameriprise Financial subsidiaries. The fees for such services are reflected within the Asset Management segment results through intersegment transfer pricing. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management, Annuities and Protection segments.

Annuities - This segment provides RiverSource variable and fixed annuity products to individual clients. RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York provide variable annuity products through our advisors, and our fixed annuity products are distributed through both affiliated and unaffiliated advisors and financial institutions. These products are designed to help individuals address their asset accumulation and income goals.  Revenues for our variable annuity products are primarily earned as fees based on underlying account balances, which are impacted by both market movements and net asset flows. Revenues for our fixed annuity products are primarily earned as net investment income on assets supporting fixed account balances, with profitability significantly impacted by the spread between net investment income earned and interest credited on the fixed account balances. We also earn net investment income on owned assets supporting reserves for immediate annuities and for certain guaranteed benefits offered with variable annuities and on capital supporting the business. Intersegment revenues for this segment reflect fees paid by our Asset Management segment for marketing support and other services provided in connection with the availability of VIT Funds under the variable annuity contracts. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment.

Protection - This segment provides a variety of products to address the protection and risk management needs of our retail clients, including life, disability income and property-casualty insurance. These products are designed to provide a lifetime of solutions that allow clients to protect income, grow assets and give to loved ones or charity. Life and disability income products are primarily provided through our advisors. Our property-casualty products are sold primarily through affinity relationships. We issue insurance policies through our life insurance subsidiaries and property casualty companies (IDS Property Casualty Insurance Company and its subsidiary, Ameriprise Insurance Company). The primary sources of revenues for this segment are premiums, fees, and charges we receive to assume insurance-related risk. We earn net investment income on owned assets supporting insurance reserves and capital supporting the business. We also receive fees based on the level of assets supporting variable universal life separate account balances. This segment earns intersegment revenues from fees paid by our Asset Management segment for marketing support and other services provided in connection with the availability of VIT Funds under the variable universal life contracts. Intersegment expenses for this segment include distribution expenses for services provided by our Advice & Wealth Management segment, as well as expenses for investment management services provided by our Asset Management segment.

Corporate & Other - This segment consists of net investment income or loss on corporate level assets, including excess capital held in our subsidiaries and other unallocated equity and other revenues as well as unallocated corporate expenses.

34

Ameriprise Financial, Inc.

Glossary of Selected Terminology

Adjusted Net Pretax Operating Margin - An internal measure designed to calculate operating margins similar to how asset management companies define operating margins. A ratio representing adjusted operating earnings as a percentage of adjusted operating revenues for the asset management segment.

Adjusted Operating Earnings - Asset management segment pretax operating earnings less operating net investment income plus amortization of intangibles.

Adjusted Operating Revenues - Asset management segment operating total net revenues less pass through distribution revenue and subadvisory and other pass through revenues.

Affiliated General Account Assets - Balance sheet assets from various affiliates managed and reported by Columbia.

Allocated Capital - The internal allocation of Total Ameriprise Financial Capital, excluding accumulated other comprehensive income (loss), CIEs, and capital lease obligations, fair value of hedges, debt issuance costs and unamortized discount on Ameriprise Financial long-term debt, is based on management’s best estimate of capital required to support the business. Estimates reflect the higher of regulatory or rating agency capital requirements, and include capital held for some stress contingencies.  Capital is allocated to our operating segments for the purpose of measuring segment return on allocated capital.  For the Corporate & Other segment, allocated capital also includes any capital available after capital has been allocated to the operating segments. Allocated capital is not adjusted for non-operating items except for CIEs.

Alternative Assets - Assets reported by the Company that include Hedge Funds and Collateralized Loan Obligations (“CLO”).

Ameriprise Financial - Ameriprise Financial includes ownership interests in subsidiaries that are attributable, directly or indirectly, to Ameriprise Financial, Inc. and excludes noncontrolling interests.

AOCI - Accumulated other comprehensive income (loss), net of tax.

Assets Under Administration - Assets under administration include assets for which we provide administrative services such as client assets invested in other companies’ products that we offer outside of our advisory wrap accounts. These assets include those held in clients’ brokerage accounts. We generally record revenues received from administered assets as distribution fees. We do not exercise management discretion over these assets and do not earn a management fee. These assets are not reported on our Consolidated Balance Sheets. Assets under administration also include certain assets on our Consolidated Balance Sheets for which we do not provide investment management services and do not recognize management fees, such as investments in non-affiliated funds held in the separate accounts of our life insurance subsidiaries. These assets do not include assets under advisement, for which we provide model portfolios but do not have full discretionary investment authority.

Assets Under Management - Assets under management include external client assets for which we provide investment management services, such as the assets of the Columbia funds and Threadneedle funds, assets of institutional clients and advisory assets held in wrap accounts as well as assets managed by sub-advisors selected by us. Assets under management also include certain assets on our Consolidated Balance Sheets for which we provide investment management services and recognize management fees in our Asset Management segment, such as the assets of the general account, RiverSource Variable Product funds held in the separate accounts of our life insurance subsidiaries, and client assets of CIEs. These assets do not include assets under advisement, for which we provide model portfolios, but do not have full discretionary investment authority.

Auto & Home Insurance - Personal auto and home protection products marketed directly to customers through marketing affiliates such as Costco Wholesale Corporation and Ford Motor Credit Company. We sell these products through our auto and home subsidiary, IDS Property Casualty Insurance Company (doing business as Ameriprise Auto & Home Insurance).

Cash Sales - Cash sales are the dollar value volume indicator that captures gross new cash inflows which generate product revenue streams to our company. This includes primarily “client initiated” activity that results in an incremental increase in assets or premiums in force (but doesn’t need to result in time of sale revenue), or activity that doesn’t increase assets or premiums in force, but generates “fee revenue”.

Consolidated Investment Entities (“CIEs”) - CIEs include variable interest entities, such as property funds and CLOs, required to be consolidated under current accounting standards.

DAC Rollforward Other - We record unrealized securities gains (losses) in accumulated other comprehensive income (loss), net of income tax provision (benefit) and net of adjustments in other asset and liability balances, such as DAC, to reflect the expected impact on their carrying values had the unrealized securities gains (losses) been realized as of the respective balance sheet dates.

Deferred Acquisition Costs and Amortization - Deferred acquisition costs (“DAC”) represent the direct costs of acquiring new protection and annuity contracts, principally direct sales commissions and other distribution and underwriting costs that have been deferred on the sale of life, disability income, long term care, auto, and home insurance and annuities.  DAC also includes deferred direct sales commissions on certain mutual fund products. These costs are deferred to the extent they are directly related to the acquisition of new business and are recoverable from future profits.

Life Insurance in Force - The total amount of all life insurance death benefits currently insured by our company.

Market Impact of Hedges on Investments - The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments.

Market Impact on Indexed Universal Life Benefits - The impact of changes in financial market conditions on benefit costs associated with indexed universal life benefits accounted for as embedded derivatives, net of changes in associated economic hedge values and net of related impacts on DAC amortization, unearned revenue amortization, and the reinsurance accrual.  This market impact includes the risk margin and nonperformance spread impact.

Market Impact on Variable Annuity Guaranteed Benefits - The impact of changes in financial market conditions on benefit costs associated with variable annuity guaranteed living benefits accounted for as embedded derivatives, net of changes in economic hedge values and unhedged items including the difference between assumed and actual underlying separate account investment performance, fixed income credit exposures, transaction costs and certain policyholder contract elections, net of related impacts on DAC and DSIC amortization.  The market impact includes the risk margin and nonperformance spread impact.

Net Amount at Risk - Life insurance in force less policyholder reserves net of reinsurance.

35

Net Flows - Sales less redemptions and miscellaneous flows which may include reinvested dividends.

Net New Flows - Retail fund inflows less outflows.

Net Realized Investment Gains (Losses) - The net of realized investment gains and realized investment losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual.

Operating Earnings - Net income attributable to Ameriprise Financial excluding integration/restructuring charges, net of tax, market impact on variable annuity guaranteed benefits and indexed universal life benefits, net of tax, market impact of hedges on investments, net of tax, income (loss) from discontinued operations, net of tax, net realized investment gains (losses), net of tax and net income (loss) from consolidated investment entities.

Operating Expenses - Total expenses excluding integration/restructuring charges, market impact on variable annuity guaranteed benefits, market impact on indexed universal life benefits, DAC and DSIC offsets to net realized investment gains (losses) and expense from consolidated investment entities.

Operating Net Investment Income - Net investment income excluding net realized investment gains (losses), market impact of hedges on investments and net investment income from consolidated investment entities.

Operating Return on Allocated Capital - Calculated using operating earnings subject to the quarterly operating effective tax rate for the last four quarters in the numerator and the average allocated capital as of the last day of the trailing four quarters and current quarter in the denominator.  Operating earnings for each product line are based on the target level of assets which are based on management’s best estimate after considering regulatory and rating agency requirements.

Operating Total Net Revenues - Total net revenues excluding net realized investment gains (losses), indexed universal life market impact on reinsurance and unearned revenue, market impact of hedges on investments, revenue from consolidated investment entities and integration/restructuring.

Pretax Operating Earnings - Income from continuing operations before income tax provision excluding net realized investment gains (losses), integration/restructuring charges, market impact on variable annuity guaranteed benefits, market impact on indexed universal life benefits, market impact of hedges on investments and pretax income (loss) from consolidated investment entities.

Pretax Operating Margin - A ratio representing pretax operating earnings as a percentage of operating total net revenues.

Pretax Income (Loss) Margin - A ratio representing pretax income (loss) as a percentage of total net revenues.

Risk Margin and Nonperformance Spread Impact - The portion of the market impact on variable annuity guaranteed benefits and indexed universal life benefits related to liability valuation adjustments made in accordance with Financial Accounting Standards Board Accounting Standards Codification 820, Fair Value Measurements and Disclosures (“ASC 820”) that management considers to be non-economic, including the impact of discounting projected benefits at a rate reflecting a current estimate of RiverSource Life’s nonperformance spread, net of related impacts on DAC, DSIC and unearned revenue as well as a reinsurance accrual for indexed universal life.

Separate Account - Represents assets and liabilities that are maintained and established primarily for the purpose of funding variable annuity and insurance products. The assets of the separate account are only available to fund the liabilities of the variable annuity contract holders and others with contracts requiring premiums or other deposits to the separate account. Clients elect to invest premiums in stock, bond and/or money market funds depending on their risk tolerance. All investment performance, net of fees, is passed through to the client.

Threadneedle - Threadneedle Asset Management Holdings Sarl is a holding company for the London-based Threadneedle companies, which provide investment management products and services.

Total Ameriprise Financial Capital - Total Ameriprise Financial shareholders’ equity plus total Ameriprise Financial long-term debt. Total Ameriprise Financial capital is also presented excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs.

Total Ameriprise Financial Long-term Debt to Total Ameriprise Financial Capital Ratio - A ratio comprised of total Ameriprise Financial long-term debt divided by Ameriprise Financial capital. We also present total Ameriprise Financial long-term debt to total Ameriprise Financial capital ratios excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of consolidated investment entities.

Wrap Accounts - Wrap accounts enable our clients to purchase other securities such as mutual funds in connection with fee-based “wrap account” programs or services. We offer clients the opportunity to select products that include affiliated and non-affiliated funds. We currently offer both discretionary and non-discretionary wrap accounts. In a discretionary wrap account, an unaffiliated investment advisor or our investment management subsidiary, Columbia Management Investment Advisers, LLC, chooses the underlying investments in the portfolio on behalf of the client. In a non-discretionary wrap account, the client chooses the underlying investments in the portfolio based, to the extent the client elects, in part or whole on the recommendations of their financial advisor. Investors in our wrap accounts generally pay a fee based on the advisory assets held in their wrap accounts. These investors also pay any related fees or costs included in the underlying securities held in that account, such as underlying mutual fund operating expenses and Rule 12b-1 fees.

36

Exhibit A

Statistical Supplement Package

(unaudited)

First Quarter 2016

Disclosed Items

37

Ameriprise Financial, Inc.

Disclosed Items

1 Qtr 2016

Excluded from Operating Earnings

	Advice & Wealth Management			Asset Management			Annuities						Protection					Corporate and Eliminations
										Market Impact on					Market Impact on									Market Impact
	Securities			Securities			Securities			VA Guaranteed			Securities		Indexed Universal						Securities			of Hedges
(in millions, unaudited)	Gains/(Losses) (1)			Gains/(Losses) (1)			Gains/(Losses) (1)			Benefits (2)			Gains/(Losses) (1)		Life Benefits (3)			CIEs (4)			Gains/(Losses) (1)			on Investments (5)
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—		$	—	$	—		$	(4	)	$	—		$	—
Distribution fees	—			—			—			—			—		—			—			—			—
Net investment income	(1		)	(3		)	(2		)	—			1		—			28			(11		)	(40		)
Premiums	—			—			—			—			—		—			—			—			—
Other revenues	—			—			—			—			—		9			—			—			—
Total revenues	(1		)	(3		)	(2		)	—			1		9			24			(11		)	(40		)
Banking and deposit interest expense	—			—			—			—			—		—			—			—			—
Total net revenues	(1		)	(3		)	(2		)	—			1		9			24			(11		)	(40		)
Expenses
Distribution expenses	—			—			—			—			—		—			—			—			—
Interest credited to fixed accounts	—			—			—			—			—		(16		)	—			—			—
Benefits, claims, losses and settlement expenses	—			—			—			(33		)	—		—			—			—			—
Amortization of deferred acquisition costs	—			—			—			16			—		6			—			—			—
Interest and debt expense	—			—			—			—			—		—			26			—			—
General and administrative expense	—			—			—			—			—		—			—			—			—
Total expenses	—			—			—			(17		)	—		(10		)	26			—			—
Pretax segment income (loss)	(1		)	(3		)	(2		)	17			1		19			(2		)	(11		)	(40		)
Less: Net income (loss) attributable to noncontrolling interest	—			—			—			—			—		—			—			—			—
Pretax segment gain (loss) attributable to Ameriprise Financial	$	(1	)	$	(3	)	$	(2	)	$	17		$	1	$	19		$	(2	)	$	(11	)	$	(40	)

Included in Operating Earnings

	Annuities						Protection
	Market			Market			Market			Life & Health			Auto & Home
	Impacts			Impacts on			Impacts			Reinsurance Recapture			Catastrophe
(in millions, unaudited)	to DAC/DSIC (6)			SOP Reserves (7)			to DAC/DSIC (6)			and Model Changes (8)			Losses (9)
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—		$	—
Distribution fees	—			—			—			—			—
Net investment income	—			—			—			—			—
Premiums	—			—			—			—			—
Other revenues	—			—			—			6			—
Total revenues	—			—			—			6			—
Banking and deposit interest expense	—			—			—			—			—
Operating total net revenues	—			—			—			6			—
Expenses
Distribution expenses	—			—			—			—			—
Interest credited to fixed accounts	—			—			—			—			—
Benefits, claims, losses and settlement expenses	1			3			—			(3		)	23
Amortization of deferred acquisition costs	5			—			1			3			—
Interest and debt expense	—			—			—			—			—
General and administrative expense	—			—			—			—			—
Operating expenses	6			3			1			—			23
Pretax operating earnings	$	(6	)	$	(3	)	$	(1	)	$	6		$	(23	)
Tax benefit

(1)Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities

(2)Variable annuity guaranteed benefit impacts include:

$34 million net benefit related to hedged variable annuity benefits

$17 million increase in DAC and DSIC amortization resulting from hedged benefits

(3)Indexed universal life benefit impacts include:

$16 million net benefit related to hedged indexed universal life benefits

$6 million increase in DAC amortization resulting from hedged indexed universal life benefits

$9 million increase in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits

(4)Reflects revenues and expenses of Consolidated Investment Entities

(5)The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments

(6)Increase in DAC and DSIC amortization from lower than projected separate account growth

(7)Market impact on reserves for insurance features in non-traditional contracts

(8)Reinsurance recapture and other actuarial model updates

(9)Total auto and home catastrophe losses for the quarter, which were $14 million higher than expectations

38

Ameriprise Financial, Inc.

Disclosed Items

4 Qtr 2015

Excluded from Operating Earnings

	Advice & Wealth Management		Annuities						Protection					Corporate and Eliminations
						Market Impact on					Market Impact on									Market Impact
	Securities		Securities			VA Guaranteed			Securities		Indexed Universal						Integration			of Hedges
(in millions, unaudited)	Gains/(Losses) (1)		Gains/(Losses) (1)			Benefits (2)			Gains/(Losses) (1)		Life Benefits (3)			CIEs (4)			Charges (5)			on Investments (6)
Revenues
Management and financial advice fees	$	—	$	—		$	—		$	—	$	—		$	(31	)	$	—		$	—
Distribution fees	—		—			—			—		—			—			—			—
Net investment income	1		(5		)	—			3		—			70			—			11
Premiums	—		—			—			—		—			—			—			—
Other revenues	—		—			—			—		2			74			—			—
Total revenues	1		(5		)	—			3		2			113			—			11
Banking and deposit interest expense	—		—			—			—		—			—			—			—
Total net revenues	1		(5		)	—			3		2			113			—			11
Expenses
Distribution expenses	—		—			—			—		—			—			—			—
Interest credited to fixed accounts	—		—			—			—		(1		)	—			—			—
Benefits, claims, losses and settlement expenses	—		—			165			—		—			—			—			—
Amortization of deferred acquisition costs	—		—			(26		)	—		2			—			—			—
Interest and debt expense	—		—			—			—		—			82			—			—
General and administrative expense	—		—			—			—		—			8			1			—
Total expenses	—		—			139			—		1			90			1			—
Pretax segment income (loss)	1		(5		)	(139		)	3		1			23			(1		)	11
Less: Net income (loss) attributable to noncontrolling interest	—		—			—			—		—			23			—			—
Pretax segment gain (loss) attributable to Ameriprise Financial	$	1	$	(5	)	$	(139	)	$	3	$	1		$	—		$	(1	)	$	11

Included in Operating Earnings

	Annuities			Protection						Consolidated
	Market			Life Insurance
	Impacts			Assumption			Auto & Home			Tax
(in millions, unaudited)	to DAC/DSIC (7)			Change (8)			Reserves (9)			Benefit (10)
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—
Distribution fees	—			—			—			—
Net investment income	—			—			—			—
Premiums	—			—			—			—
Other revenues	—			—			—			—
Total revenues	—			—			—			—
Banking and deposit interest expense	—			—			—			—
Operating total net revenues	—			—			—			—
Expenses
Distribution expenses	—			—			—			—
Interest credited to fixed accounts	—			—			—			—
Benefits, claims, losses and settlement expenses	(1		)	(28		)	57			—
Amortization of deferred acquisition costs	(5		)	—			—			—
Interest and debt expense	—			—			—			—
General and administrative expense	—			—			—			—
Operating expenses	(6		)	(28		)	57			—
Pretax operating earnings	$	6		$	28		$	(57	)	$	—
Tax benefit										$	26

(1)Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities

(2)Variable annuity guaranteed benefit impacts include:

$168 million net expense related to hedged variable annuity benefits

$29 million decrease in DAC and DSIC amortization resulting from hedged benefits

(3)Indexed universal life benefit impacts include:

$1 million net benefit related to hedged indexed universal life benefits

$2 million increase in DAC amortization resulting from hedged indexed universal life benefits

$2 million increase in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits

(4)Reflects revenues and expenses of Consolidated Investment Entities

(5)Integration charges related to JHS Capital Advisors acquisition

(6)The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments

(7)Decrease in DAC and DSIC amortization from higher than projected separate account growth

(8)Life insurance reserve reduction resulting from an assumption change

(9)Reserve strengthening primarily in auto line

(10)Dividends received deduction benefit

39

Ameriprise Financial, Inc.

Disclosed Items

3 Qtr 2015

Excluded from Operating Earnings

	Advice & Wealth Management			Annuities						Protection						Corporate and Eliminations
							Market Impact on						Market Impact on									Market Impact
	Securities			Securities			VA Guaranteed			Securities			Indexed Universal						Integration			of Hedges
(in millions, unaudited)	Gains/(Losses) (1)			Gains/(Losses) (1)			Benefits (2)			Gains/(Losses) (1)			Life Benefits (3)			CIEs (4)			Charges (5)			on Investments (6)
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—		$	—		$	(15	)	$	—		$	—
Distribution fees	—			—			—			—			—			—			—			—
Net investment income	(1		)	(8		)	—			(1		)	—			2			—			(31		)
Premiums	—			—			—			—			—			—			—			—
Other revenues	—			—			—			—			9			56			—			—
Total revenues	(1		)	(8		)	—			(1		)	9			43			—			(31		)
Banking and deposit interest expense	—			—			—			—			—			—			—			—
Total net revenues	(1		)	(8		)	—			(1		)	9			43			—			(31		)
Expenses
Distribution expenses	—			—			—			—			—			—			—			—
Interest credited to fixed accounts	—			—			—			—			4			—			—			—
Benefits, claims, losses and settlement expenses	—			—			(2		)	—			—			—			—			—
Amortization of deferred acquisition costs	—			—			7			—			6			—			—			—
Interest and debt expense	—			—			—			—			—			68			—			—
General and administrative expense	—			—			—			—			—			20			3			—
Total expenses	—			—			5			—			10			88			3			—
Pretax segment income (loss)	(1		)	(8		)	(5		)	(1		)	(1		)	(45		)	(3		)	(31		)
Less: Net income (loss) attributable to noncontrolling interest	—			—			—			—			—			(45		)	—			—
Pretax segment gain (loss) attributable to Ameriprise Financial	$	(1	)	$	(8	)	$	(5	)	$	(1	)	$	(1	)	$	—		$	(3	)	$	(31	)

Included in Operating Earnings

	Annuities						Protection
	Market			Valuation			Market			Valuation			Long Term			Life Reinsurance
	Impacts			Assumptions &			Impacts			Assumptions &			Care			Premium
(in millions, unaudited)	to DAC/DSIC (7)			Model Changes (8)			to DAC/DSIC (7)			Model Changes (8)			Reserves (9)			Correction (10)
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—		$	—		$	—
Distribution fees	—			—			—			—			—			—
Net investment income	—			—			—			—			—			—
Premiums	—			—			—			(3		)	—			(4		)
Other revenues	—			—			—			(5		)	—			(9		)
Total revenues	—			—			—			(8		)	—			(13		)
Banking and deposit interest expense	—			—			—			—			—			—
Operating total net revenues	—			—			—			(8		)	—			(13		)
Expenses
Distribution expenses	—			—			—			—			—			(2		)
Interest credited to fixed accounts	—			—			—			—			—			—
Benefits, claims, losses and settlement expenses	6			(61		)	—			6			(13		)	—
Amortization of deferred acquisition costs	23			(5		)	2			10			—			—
Interest and debt expense	—			—			—			—			—			—
General and administrative expense	—			—			—			—			—			—
Operating expenses	29			(66		)	2			16			(13		)	(2		)
Pretax operating earnings	$	(29	)	$	66		$	(2	)	$	(24	)	$	13		$	(11	)

(1)Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities

(2)Variable annuity guaranteed benefit impacts include:

$4 million net benefit related to hedged variable annuity benefits

$9 million increase in DAC and DSIC amortization resulting from hedged benefits

(3)Indexed universal life benefit impacts include:

$4 million net expense related to hedged indexed universal life benefits

$6 million increase in DAC amortization resulting from hedged indexed universal life benefits

$9 million increase in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits

(4)Reflects revenues and expenses of Consolidated Investment Entities

(5)Integration charges related to JHS Capital Advisors acquisition

(6)The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments

(7)Increase in DAC and DSIC amortization from lower than projected separate account growth

(8)Net pretax impact of model changes and the annual review/updating of valuation assumptions

(9)Reserve release related to our closed block of long term care insurance

(10)Accrual established for ceded reinsurance

40

Ameriprise Financial, Inc.

Disclosed Items

2 Qtr 2015

Excluded from Operating Earnings

	Annuities					Protection					Corporate and Eliminations
			Market Impact on					Market Impact on									Market Impact
	Securities		VA Guaranteed			Securities		Indexed Universal						Integration			of Hedges
(in millions, unaudited)	Gains/(Losses) (1)		Benefits (2)			Gains/(Losses) (1)		Life Benefits (3)			CIEs (4)			Charges (5)			on Investments (6)
Revenues
Management and financial advice fees	$	—	$	—		$	—	$	—		$	(15	)	$	—		$	—
Distribution fees	—		—			—		—			—			—			—
Net investment income	3		—			2		—			54			—			(1		)
Premiums	—		—			—		—			—			—			—
Other revenues	—		—			—		—			102			—			—
Total revenues	3		—			2		—			141			—			(1		)
Banking and deposit interest expense	—		—			—		—			—			—			—
Total net revenues	3		—			2		—			141			—			(1		)
Expenses
Distribution expenses	—		—			—		—			—			—			—
Interest credited to fixed accounts	—		—			—		(4		)	—			—			—
Benefits, claims, losses and settlement expenses	—		40			—		—			—			—			—
Amortization of deferred acquisition costs	—		(4		)	—		(1		)	—			—			—
Interest and debt expense	—		—			—		—			59			—			—
General and administrative expense	—		—			—		—			21			1			—
Total expenses	—		36			—		(5		)	80			1			—
Pretax segment income (loss)	3		(36		)	2		5			61			(1		)	(1		)
Less: Net income (loss) attributable to noncontrolling interest	—		—			—		—			61			—			—
Pretax segment gain (loss) attributable to Ameriprise Financial	$	3	$	(36	)	$	2	$	5		$	—		$	(1	)	$	(1	)

Included in Operating Earnings

	Annuities						Protection
	Market									Auto & Home
	Impacts			Variable Annuity			Long Term Care			Catastrophe
(in millions, unaudited)	to DAC/DSIC (7)			Product Changes (8)			Reserves (9)			Losses (10)
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—
Distribution fees	—			—			—			—
Net investment income	—			—			—			—
Premiums	—			—			—			—
Other revenues	—			—			—			—
Total revenues	—			—			—			—
Banking and deposit interest expense	—			—			—			—
Operating total net revenues	—			—			—			—
Expenses
Distribution expenses	—			—			—			—
Interest credited to fixed accounts	—			—			—			—
Benefits, claims, losses and settlement expenses	1			(2		)	(18		)	48
Amortization of deferred acquisition costs	4			—			—			—
Interest and debt expense	—			—			—			—
General and administrative expense	—			—			—			—
Operating expenses	5			(2		)	(18		)	48
Pretax operating earnings	$	(5	)	$	2		$	18		$	(48	)

(1)Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities

(2)Variable annuity guaranteed benefit impacts include:

$39 million net expense related to hedged variable annuity benefits

$3 million decrease in DAC and DSIC amortization resulting from hedged benefits

(3)Indexed universal life benefit impacts include:

$4 million net benefit related to hedged indexed universal life benefits

$1 million decrease in DAC amortization resulting from hedged indexed universal life benefits

(4)Reflects revenues and expenses of Consolidated Investment Entities

(5)Integration charges related to JHS Capital Advisors acquisition

(6)The market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments

(7)Increase in DAC and DSIC amortization from lower than projected separate account growth

(8)Benefit related to the addition of Portfolio Stabilizer (managed volatility) fund options for in-force variable annuities with living benefit guarantees

(9)Reserve release related to our closed block of long term care insurance

(10)Total auto and home catastrophe losses for the quarter, which were $25 million higher than expectations

41

Ameriprise Financial, Inc.

Disclosed Items

1 Qtr 2015

Excluded from Operating Earnings

	Advice & Wealth Management			Annuities					Protection					Corporate and Eliminations
						Market Impact on					Market Impact on
	Securities			Securities		VA Guaranteed			Securities		Indexed Universal
(in millions, unaudited)	Gains/(Losses) (1)			Gains/(Losses) (1)		Benefits (2)			Gains/(Losses) (1)		Life Benefits (3)			CIEs (4)
Revenues
Management and financial advice fees	$	—		$	—	$	—		$	—	$	—		$	(14	)
Distribution fees	—			—		—			—		—			—
Net investment income	(1		)	7		—			4		—			105
Premiums	—			—		—			—		—			—
Other revenues	—			—		—			—		(4		)	58
Total revenues	(1		)	7		—			4		(4		)	149
Banking and deposit interest expense	—			—		—			—		—			—
Total net revenues	(1		)	7		—			4		(4		)	149
Expenses
Distribution expenses	—			—		—			—		—			—
Interest credited to fixed accounts	—			—		—			—		5			—
Benefits, claims, losses and settlement expenses	—			—		38			—		—			—
Amortization of deferred acquisition costs	—			—		(4		)	—		(3		)	—
Interest and debt expense	—			—		—			—		—			53
General and administrative expense	—			—		—			—		—			10
Total expenses	—			—		34			—		2			63
Pretax segment income (loss)	(1		)	7		(34		)	4		(6		)	86
Less: Net income (loss) attributable to noncontrolling interest	—			—		—			—		—			86
Pretax segment gain (loss) attributable to Ameriprise Financial	$	(1	)	$	7	$	(34	)	$	4	$	(6	)	$	—

Included in Operating Earnings

	Annuities						Protection
	Market						Market						Disability Insurance			Auto & Home
	Impacts			Variable Annuity			Impacts			Long Term Care			Discount Rate			Weather-Related
(in millions, unaudited)	to DAC/DSIC (5)			Product Changes (6)			to DAC/DSIC (5)			Reserves (7)			Change (8)			Losses (9)
Revenues
Management and financial advice fees	$	—		$	—		$	—		$	—		$	—		$	—
Distribution fees	—			—			—			—			—			—
Net investment income	—			—			—			—			—			—
Premiums	—			—			—			—			—			—
Other revenues	—			—			—			—			—			—
Total revenues	—			—			—			—			—			—
Banking and deposit interest expense	—			—			—			—			—			—
Operating total net revenues	—			—			—			—			—			—
Expenses
Distribution expenses	—			—			—			—			—			—
Interest credited to fixed accounts	—			—			—			—			—			—
Benefits, claims, losses and settlement expenses	(2		)	(3		)	—			32			(7		)	12
Amortization of deferred acquisition costs	(8		)	1			(1		)	—			—			—
Interest and debt expense	—			—			—			—			—			—
General and administrative expense	—			—			—			—			—			—
Operating expenses	(10		)	(2		)	(1		)	32			(7		)	12
Pretax operating earnings	$	10		$	2		$	1		$	(32	)	$	7		$	(12	)

(1)Pretax net realized investment gains/(losses) on Available-for-Sale securities and other securities

(2)Variable annuity guaranteed benefit impacts include:

$39 million net expense related to hedged variable annuity benefits

$5 million decrease in DAC and DSIC amortization resulting from hedged benefits

(3)Indexed universal life benefit impacts include:

$5 million net expense related to hedged indexed universal life benefits

$3 million decrease in DAC amortization resulting from hedged indexed universal life benefits

$4 million decrease in unearned revenue reserve amortization and reinsurance accrual from hedged indexed universal life benefits

(4)Reflects revenues and expenses of Consolidated Investment Entities

(5)Decrease in DAC and DSIC amortization from higher than projected separate account growth

(6)Benefit related to the addition of Portfolio Stabilizer (managed volatility) fund options for in-force variable annuities with living benefit guarantees

(7)Reserve increase related to our closed block of long term care insurance

(8)Favorable impact from a change in the discount rate for disability insurance products

(9)Auto and home weather-related losses, includes $4 million related to 2014 catastrophe losses

42

Exhibit B

Statistical Supplement Package

(unaudited)

First Quarter 2016

Non-GAAP Financial Measure Reconciliations

43

Ameriprise Financial, Inc.

Non-GAAP Financial Measure Reconciliations

First Quarter 2016

																Year-to-date
(in millions unless otherwise noted, unaudited)	1 Qtr 2015			2 Qtr 2015			3 Qtr 2015			4 Qtr 2015			1 Qtr 2016			2015			2016
Return on Equity
Net income attributable to Ameriprise Financial (last twelve months)	$	1,612		$	1,653		$	1,630		$	1,562		$	1,533		$	1,612		$	1,533
Less income (loss) from discontinued operations, net of tax (last twelve months)	(1		)	(1		)	(1		)	—			—			(1		)	—
Net income from continuing operations attributable to Ameriprise Financial (last twelve months)	1,613			1,654			1,631			1,562			1,533			1,613			1,533
Less adjustments (1)	(54		)	(39		)	(84		)	(154		)	(149		)	(54		)	(149		)
Operating earnings (last twelve months)	$	1,667		$	1,693		$	1,715		$	1,716		$	1,682		$	1,667		$	1,682
Total Ameriprise Financial shareholders’ equity (five point quarter end average)	$	8,270		$	8,176		$	8,017		$	7,808		$	7,602		$	8,270		$	7,602
Less AOCI, net of tax (five point quarter end average)	755			706			615			516			472			755			472
Total Ameriprise Financial shareholders’ equity excluding AOCI (five point quarter end average)	7,515			7,470			7,402			7,292			7,130			7,515			7,130
Less equity impacts attributable to the consolidated investment entities (five point quarter end average)	300			280			250			216			170			300			170
Operating equity (five point quarter end average)	$	7,215		$	7,190		$	7,152		$	7,076		$	6,960		$	7,215		$	6,960
Return on equity excluding AOCI	21.5		%	22.1		%	22.0		%	21.4		%	21.5		%	21.5		%	21.5		%
Operating return on equity excluding AOCI	23.1		%	23.5		%	24.0		%	24.3		%	24.2		%	23.1		%	24.2		%
Effective Tax Rate
Pretax income	$	618		$	615		$	463		$	446		$	475		$	618		$	475
Less pretax income (loss) attributable to noncontrolling interests	86			61			(45		)	23			—			86			—
Pretax income excluding noncontrolling interests	532			554			508			423			475			532			475
Less adjustments (2)	(30		)	(28		)	(50		)	(129		)	(22		)	(30		)	(22		)
Pretax operating earnings	$	562		$	582		$	558		$	552		$	497		$	562		$	497
Income tax provision	$	139		$	139		$	111		$	66		$	111		$	139		$	111
Operating income tax provision	$	150		$	148		$	129		$	111		$	119		$	150		$	119
Effective tax rate	22.5		%	22.6		%	24.1		%	14.8		%	23.3		%	22.5		%	23.3		%
Effective tax rate excluding noncontrolling interests	26.1		%	25.1		%	21.9		%	15.6		%	23.3		%	26.1		%	23.3		%
Operating effective tax rate	26.7		%	25.4		%	23.1		%	20.1		%	23.9		%	26.7		%	23.9		%

(1)

Adjustments reflect the trailing twelve months’ sum of after-tax net realized investment gains/losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual; the market impact on variable annuity guaranteed benefits, net of hedges and the related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; integration/restructuring charges; and net income (loss) from consolidated investment entities. After-tax is calculated using the statutory tax rate of 35%.

(2)

Adjustments reflect net realized investment gains/losses, net of DSIC and DAC amortization, unearned revenue amortization and the reinsurance accrual; the market impact on variable annuity guaranteed benefits net of hedges and the related DSIC and DAC amortization; the market impact on indexed universal life benefits, net of hedges and the related DAC amortization, unearned revenue amortization, and the reinsurance accrual; the market impact of hedges to offset interest rate changes on unrealized gains or losses for certain investments; integration/restructuring charges; and the impact of consolidated investment entities.

44

Ameriprise Financial, Inc.

Non-GAAP Financial Measure Reconciliations

First Quarter 2016

(in millions unless otherwise noted, unaudited)	March 31, 2015			June 30, 2015			September 30, 2015			December 31, 2015			March 31, 2016
Long-term Debt Summary
Senior notes	$	2,700		$	2,700		$	2,700		$	2,350		$	2,350
Junior subordinated notes	294			294			253			245			229
Capital lease obligations	—			—			—			60			58
Fair value of hedges, unamortized discount and debt issuance costs	55			45			50			37			46
Total Ameriprise Financial long-term debt	3,049			3,039			3,003			2,692			2,683
Less fair value of hedges, unamortized discount and debt issuance costs	55			45			50			37			46
Less capital lease obligations	—			—			—			60			58
Total Ameriprise Financial long-term debt excluding fair value of hedges, unamortized discount, debt issuance costs and capital lease obligations	$	2,994		$	2,994		$	2,953		$	2,595		$	2,579
Equity Summary
Total equity	$	9,259		$	8,996		$	8,821		$	8,405		$	7,093
Less noncontrolling interests	1,064			1,121			1,192			1,188			—
Total Ameriprise Financial shareholders’ equity	8,195			7,875			7,629			7,217			7,093
Less equity of consolidated investment entities	266			243			162			131			1
Total Ameriprise Financial shareholders’ equity excluding CIEs	$	7,929		$	7,632		$	7,467		$	7,086		$	7,092
Capital Summary
Total Ameriprise Financial long-term debt	$	3,049		$	3,039		$	3,003		$	2,692		$	2,683
Total Ameriprise Financial shareholders’ equity	8,195			7,875			7,629			7,217			7,093
Total Ameriprise Financial capital	11,244			10,914			10,632			9,909			9,776
Less equity of consolidated investment entities	266			243			162			131			1
Less fair value of hedges, unamortized discount and debt issuance costs	55			45			50			37			46
Less capital lease obligations	—			—			—			60			58
Total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs	$	10,923		$	10,626		$	10,420		$	9,681		$	9,671
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital	27.1		%	27.8		%	28.2		%	27.2		%	27.4		%
Total Ameriprise Financial long-term debt to total Ameriprise Financial capital excluding fair value of hedges, unamortized discount, debt issuance costs, capital lease obligations and equity of CIEs	27.4		%	28.2		%	28.3		%	26.8		%	26.7		%
Ameriprise Financial shareholders’ equity	$	8,195		$	7,875		$	7,629		$	7,217		$	7,093
AOCI	704			500			461			253			442
Appropriated retained earnings of CIEs	279			257			174			137			—
AOCI attributable to CIEs	(13		)	(14		)	(12		)	(6		)	1
Ameriprise Financial shareholders’ equity	$	8,195		$	7,875		$	7,629		$	7,217		$	7,093
Less AOCI	704			500			461			253			442
Ameriprise Financial shareholders’ equity excluding AOCI	$	7,491		$	7,375		$	7,168		$	6,964		$	6,651
Ameriprise Financial shareholders’ equity	$	8,195		$	7,875		$	7,629		$	7,217		$	7,093
Less appropriated retained earnings of CIEs	279			257			174			137			—
Less AOCI	704			500			461			253			442
Ameriprise Financial shareholders’ equity excluding CIEs and AOCI	$	7,212		$	7,118		$	6,994		$	6,827		$	6,651

45