Financial Data and Key Metrics Changes - In Q1 2024, the company reported non-GAAP operating earnings of $394 million, or $1.65 per diluted share, representing an 11% increase in EPS compared to Q1 2023 [5] - The reported net income for the first quarter was $533 million, with net income excluding exited business at $376 million [32] - The company returned over $360 million to shareholders in Q1, including $200 million in share repurchases and a raised common stock dividend [6][64] Business Line Data and Key Metrics Changes - Principal Asset Management saw positive institutional net cash flow, particularly in private real estate and fixed income investments [7] - The Retirement and Income Solutions (RIS) segment experienced strong revenue and earnings growth, with total retirement sales growing 6% year-over-year [9][10] - In Benefits and Protection, premium and fees increased by 8% year-over-year, driven by record sales and employment growth [12] Market Data and Key Metrics Changes - Principal International reported positive net cash flow of $1 billion, the strongest quarter since 2021, primarily due to robust sales in Brazil [8] - The total managed assets under management (AUM) reached $709 billion at the end of the quarter, with nearly $1.5 billion in positive net cash flow [24] - The S&P 500 outperformed mid-cap, small-cap, and international equities, impacting overall market performance [15] Company Strategy and Development Direction - The company continues to focus on growth while managing expenses and returning excess capital to shareholders, aiming for 9% to 12% EPS growth for 2024 [23][42] - The company is optimistic about opportunities in higher growth markets and integrated product offerings, particularly in retirement and asset management [30][69] - The company is adapting to regulatory changes, including the Department of Labor's final rule on fiduciary investment advice, while maintaining a focus on customer needs [11][55] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued investment in longer-duration and higher-yielding assets despite high inflation and low unemployment [26] - Concerns were raised about potential unintended consequences of regulatory changes limiting consumer access to financial tools [29] - The company remains confident in its ability to deliver on long-term financial targets and maintain a strong capital position [37][42] Other Important Information - The company was recognized as one of the world's most ethical companies for the 13th time, highlighting its commitment to ethical leadership [57] - The investment portfolio remains high quality and well-positioned for various economic conditions, with a healthy commercial mortgage loan portfolio [41] Q&A Session Summary Question: Insights on PGI flows and future allocations - Management noted strong institutional flows, particularly in real estate and fixed income, with a positive sentiment from clients [70][72] Question: Impact of high interest rates on participant withdrawals - An uptick in participant retirement withdrawals was observed, influenced by strong equity markets [50] Question: Fee rate expectations in PGI - The fee rate was down year-over-year, with expectations of continued compression in normal markets [75][84] Question: Specialty benefits sales performance - Strong sales in group disability were noted, with growth driven by new business and market openings [88][90] Question: Competitive landscape in group life insurance - The company maintains a rational competitive environment in the small to mid-sized market, with no significant price competition observed [140][141]

[Executive Summary & Q1 2024 Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Q1%202024%20Highlights) [Overall Performance Overview](index=1&type=section&id=Overall%20Performance%20Overview) The company reported strong Q1 2024 results with nearly $400 million in non-GAAP operating earnings, driven by strategic execution and favorable market conditions - CEO Dan Houston highlighted strong Q1 2024 results with **nearly $400 million in non-GAAP operating earnings**, driven by focused strategy execution, strong sales, and equity market tailwinds[2](index=2&type=chunk) - The company is committed to driving profitable growth, balancing investments in growth and innovation with expense management[2](index=2&type=chunk) - Principal returned **over $360 million to shareholders** in the quarter, including **$200 million in share repurchases**, demonstrating a strong financial position and commitment to capital return[3](index=3&type=chunk) [Key Financial Metrics & Capital Allocation](index=1&type=section&id=Key%20Financial%20Metrics%20%26%20Capital%20Allocation) The company reported $533 million in net income, returned $362 million to shareholders, and grew Assets under Management to $709 billion in Q1 2024 Q1 2024 Key Financial Highlights | Metric | Value | | :--- | :--- | | Net income attributable to PFG | $533 million | | Diluted EPS (GAAP) | $2.22 | | Non-GAAP operating earnings | $394 million | | Non-GAAP operating EPS | $1.65 | | Capital returned to shareholders | $362 million | | Share repurchases | $200 million | | Common stock dividends | $162 million | | Q2 2024 common stock dividend (per share) | $0.71 (+$0.02 YoY) | | Assets under management (AUM) | $709 billion | | Assets under administration (AUA) | $1.6 trillion | | Excess and available capital | $1.4 billion | [Enterprise Financial Results](index=3&type=section&id=Enterprise%20Financial%20Results) [Consolidated Financial Performance](index=3&type=section&id=Consolidated%20Financial%20Performance) The company reported a significant turnaround in net income to $532.5 million and strong growth in both non-GAAP earnings and assets under management Q1 2024 Enterprise Financial Performance (YoY Change) | Metric | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | Net income (loss) attributable to PFG | $532.5 | $(140.1) | N/M | | Non-GAAP net income attributable to PFG, excluding exited business | $376.4 | $346.9 | 9% | | Non-GAAP operating earnings | $394.3 | $366.8 | 7% | | Diluted earnings per common share (GAAP) | $2.22 | $(0.58) | N/M | | Non-GAAP diluted EPS, excluding exited business | $1.58 | $1.39 | 14% | | Non-GAAP operating EPS | $1.65 | $1.48 | 11% | | Assets under administration (billions) | $1,624.3 | $1,503.4 | 8% | | Assets under management (billions) | $708.5 | $659.9 | 7% | [Selected Balance Sheet Statistics](index=8&type=section&id=Selected%20Balance%20Sheet%20Statistics) As of Q1 2024, total assets increased slightly to $308.7 billion, while stockholders' equity grew to $11.2 billion and book value per share rose to $47.60 Selected Balance Sheet Statistics (QoQ Change) | Metric | 1Q24 ($M) | 4Q23 ($M) | | :--- | :--- | :--- | | Total assets (in billions) | $308.7 | $305.0 | | Stockholders' equity (in millions) | $11,230.4 | $10,961.7 | | Total common equity (in millions) | $11,185.5 | $10,916.0 | | Total common equity excluding cumulative change in fair value of funds withheld embedded derivative and AOCI other than foreign currency translation adjustment (in millions) | $12,640.9 | $12,735.4 | | End of period common shares outstanding (in millions) | 235.0 | 236.4 | | Book value per common share | $47.60 | $46.18 | | Book value per common share excluding cumulative change in fair value of funds withheld embedded derivative and AOCI other than foreign currency translation adjustment | $53.79 | $53.87 | [Segment Performance Highlights](index=3&type=section&id=Segment%20Performance%20Highlights) [Retirement and Income Solutions (RIS)](index=3&type=section&id=Retirement%20and%20Income%20Solutions%20(RIS)) The RIS segment achieved 6% growth in both sales and net revenue, leading to a 5% increase in pre-tax operating earnings to $262.2 million RIS Q1 2024 Performance (YoY Change) | Metric | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | Sales | $9,400 | | 6% | | Pre-tax operating earnings | $262.2 | $249.8 | 5% | | Net revenue | $691.4 | $650.1 | 6% | | Operating margin | 37.9% | 38.4% | | - The increase in pre-tax operating earnings was primarily due to **higher net revenue**, partially offset by higher operating expenses[10](index=10&type=chunk) - Net revenue growth was driven by **business expansion**, increased net investment income, and positive market performance[11](index=11&type=chunk) [Principal Global Investors (PGI)](index=3&type=section&id=Principal%20Global%20Investors%20(PGI)) PGI's managed AUM grew 7% to $514 billion, driving a 4% increase in pre-tax operating earnings to $113.9 million from higher management fees PGI Q1 2024 Performance (YoY Change) | Metric | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | Managed AUM (billions) | $513.5 | $478.7 | 7% | | Pre-tax operating earnings | $113.9 | $109.1 | 4% | | Operating revenues less pass-through expenses | $373.8 | $361.5 | 3% | | Operating margin | 30.7% | 30.5% | | - Pre-tax operating earnings increased due to **higher operating revenues less pass-through expenses**, partially offset by higher operating expenses[16](index=16&type=chunk) - Operating revenues less pass-through expenses increased primarily due to **higher management fees on higher average AUM**[16](index=16&type=chunk) [Principal International (PI)](index=3&type=section&id=Principal%20International%20(PI)) PI's AUM grew 7% to $179 billion, but pre-tax operating earnings declined 7% to $73.2 million due to macroeconomic headwinds in Asia PI Q1 2024 Performance (YoY Change) | Metric | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | AUM (billions) | $178.7 | $167.1 | 7% | | Pre-tax operating earnings | $73.2 | $78.7 | (7)% | | Combined net revenue (at PFG share) | $231.3 | $241.5 | (4)% | | Operating margin | 31.6% | 32.6% | | - Pre-tax operating earnings decreased primarily due to **lower combined net revenue**[21](index=21&type=chunk) - Combined net revenue (at PFG share) decreased due to **macroeconomic headwinds in Asia and foreign currency translation**[21](index=21&type=chunk) [Specialty Benefits](index=3&type=section&id=Specialty%20Benefits) The Specialty Benefits segment delivered a 25% surge in pre-tax operating earnings to $102.0 million, driven by record sales and an improved loss ratio Specialty Benefits Q1 2024 Performance (YoY Change) | Metric | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | Premium and fees | $801.3 | $742.1 | 8% | | Pre-tax operating earnings | $102.0 | $81.8 | 25% | | Operating margin | 12.7% | 11.0% | | | Incurred loss ratio | 61.1% | 62.5% | | - Pre-tax operating earnings increased due to **business growth and a lower incurred loss ratio**[22](index=22&type=chunk) - Premium and fees increased, driven by **record sales, employment, and wage growth**[22](index=22&type=chunk) - The incurred loss ratio improved to **61%** due to more favorable underwriting experience[22](index=22&type=chunk) [Life Insurance](index=3&type=section&id=Life%20Insurance) The Life Insurance segment's premium and fees grew 4%, but pre-tax operating earnings fell 44% to $9.8 million due to a regulatory adjustment Life Insurance Q1 2024 Performance (YoY Change) | Metric | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | Market premium and fees | | | 23% | | Premium and fees | $234.0 | $224.8 | 4% | | Pre-tax operating earnings | $9.8 | $17.5 | (44)% | | Operating margin | 4.2% | 7.8% | | - Pre-tax operating earnings decreased primarily due to a **GAAP-only regulatory closed block dividend adjustment**[23](index=23&type=chunk) - Premium and fees increased as **strong business market growth outpaced the runoff of the legacy business**[23](index=23&type=chunk) [Corporate](index=6&type=section&id=Corporate) The Corporate segment improved its pre-tax operating loss by 7% year-over-year, reporting a loss of $(88.9) million for the first quarter of 2024 Corporate Q1 2024 Performance (YoY Change) | Metric | 1Q24 ($M) | 1Q23 ($M) | % Change | | :--- | :--- | :--- | :--- | | Pre-tax operating losses | $(88.9) | $(96.1) | 7% | [Non-GAAP Financial Measures & Reconciliations](index=2&type=section&id=Non-GAAP%20Financial%20Measures%20%26%20Reconciliations) [Explanation of Non-GAAP Measures](index=2&type=section&id=Explanation%20of%20Non-GAAP%20Measures) The company uses non-GAAP measures like operating earnings to provide a clearer view of ongoing operations by excluding certain non-recurring items - Non-GAAP financial measures are used to illustrate the performance of **normal, ongoing operations**, aiding in understanding and evaluating the company's financial condition[28](index=28&type=chunk) - Management uses non-GAAP measures for **goal setting, determining employee awards and compensation**, and evaluating performance comparable to that used by investors and analysts[28](index=28&type=chunk)[33](index=33&type=chunk) - Non-GAAP operating earnings exclude net realized capital gains and losses, income (loss) from exited business, and other after-tax adjustments deemed not indicative of overall operating trends[33](index=33&type=chunk) [Detailed Reconciliations](index=8&type=section&id=Detailed%20Reconciliations) This section provides comprehensive reconciliations from U.S. GAAP to non-GAAP financial measures, detailing adjustments for key financial metrics Summary of PFG and Segment Results (GAAP to Non-GAAP Reconciliation) | Metric | 1Q24 ($M) | 1Q23 ($M) | | :--- | :--- | :--- | | Net income (loss) attributable to PFG | $532.5 | $(140.1) | | (Income) loss from exited business | $(156.1) | $487.0 | | Non-GAAP net income (loss) attributable to PFG excluding exited business | $376.4 | $346.9 | | Net realized capital (gains) losses, as adjusted | $17.9 | $19.9 | | Non-GAAP Operating Earnings | $394.3 | $366.8 | | Income taxes | $77.9 | $74.0 | | Non-GAAP Pre-Tax Operating Earnings | $472.2 | $440.8 | | | | | | **Segment Pre-Tax Operating Earnings (Losses):** | | | | Retirement and Income Solutions | $262.2 | $249.8 | | Principal Asset Management | $187.1 | $187.8 | | Benefits and Protection | $111.8 | $99.3 | | Corporate | $(88.9) | $(96.1) | | Total Segment Pre-Tax Operating Earnings | $472.2 | $440.8 | | | | | | **Per Diluted Share:** | | | | Net income (loss) | $2.22 | $(0.58) | | Non-GAAP net income (loss) excluding exited business | $1.58 | $1.39 | | Non-GAAP Operating Earnings | $1.65 | $1.48 | Reconciliation of Income Taxes (GAAP to Non-GAAP) | Metric | 1Q24 ($M) | 1Q23 ($M) | | :--- | :--- | :--- | | Total GAAP income taxes (benefit) | $95.1 | $(78.0) | | Net realized capital gains (losses) tax adjustments | $11.1 | $8.2 | | Exited business tax adjustments | $(41.5) | $121.3 | | Income taxes related to equity method investments and noncontrolling interest | $13.2 | $22.5 | | Income taxes (Non-GAAP) | $77.9 | $74.0 | Reconciliation of Principal Global Investors Operating Revenues Less Pass-Through Expenses | Metric | 1Q24 ($M) | 1Q23 ($M) | | :--- | :--- | :--- | | Operating revenues | $404.8 | $392.7 | | Commissions and other expenses | $(31.0) | $(31.2) | | Operating revenues less pass-through expenses (Non-GAAP) | $373.8 | $361.5 | Reconciliation of Principal International Combined Net Revenue (at PFG Share) | Metric | 1Q24 ($M) | 1Q23 ($M) | | :--- | :--- | :--- | | Pre-tax operating earnings | $73.2 | $78.7 | | Combined operating expenses other than pass-through commissions (at PFG share) | $158.1 | $162.8 | | Combined net revenue (at PFG share) (Non-GAAP) | $231.3 | $241.5 | [Additional Information](index=6&type=section&id=Additional%20Information) [Earnings Conference Call](index=6&type=section&id=Earnings%20Conference%20Call) An earnings conference call led by senior executives to discuss Q1 results and future prospects is scheduled for April 26, 2024, at 10:00 a.m. ET - An earnings conference call will be held on **April 26, 2024, at 10:00 a.m. ET**, featuring CEO Dan Houston and CFO Deanna Strable[25](index=25&type=chunk) - The call will discuss **Q1 results, future prospects, asset quality, and capital adequacy**[25](index=25&type=chunk) - Access to the live webcast and telephone dial-in details, along with replay and transcript availability, are provided on investors.principal.com[26](index=26&type=chunk) [Forward-Looking Statements](index=7&type=section&id=Forward-Looking%20Statements) This release contains forward-looking statements based on current expectations, which are not guarantees of future performance and are subject to risks - The release includes forward-looking statements about **share repurchases, planned dividends, growth strategies, and ongoing operations**[27](index=27&type=chunk) - These statements are based on current expectations and beliefs and are **not guarantees of future performance**; actual results may differ materially[27](index=27&type=chunk) - Risks and uncertainties are described in SEC filings, including the annual report on Form 10-K. The company assumes no obligation to update forward-looking statements[27](index=27&type=chunk) [About Principal](index=7&type=section&id=About%20Principal) Principal Financial Group is a global financial company with a long history of serving millions of customers in planning, insuring, investing, and retirement - Principal Financial Group is a global financial company with **nearly 20,000 employees**, serving approximately **62 million customers** for over 140 years[29](index=29&type=chunk) - The company helps customers plan, insure, invest, and retire, while also focusing on improving the planet, supporting communities, and building a diverse and inclusive workforce[29](index=29&type=chunk) - Principal is recognized as one of the **2023 World's Most Ethical Companies**, a member of the **Bloomberg Gender Equality Index**, and a "Best Places to Work in Money Management"[29](index=29&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-16725 PRINCIPAL FINANCIAL GROUP, INC. (Exact name of Registrant as specified in its charter) Delaware (State or other jurisdicti ...

Financial Data and Key Metrics - The company returned $1.3 billion to shareholders in 2023 through share repurchases and common stock dividends, representing nearly 90% of net income excluding exited businesses [3] - Full-year 2023 non-GAAP operating earnings were $1.6 billion or $6.55 per diluted share, a 6% increase over 2022 [27] - Fourth-quarter non-GAAP operating earnings were $441 million or $1.83 per diluted share, with total company managed AUM reaching $695 billion, up over 9% from 2022 [91] - The company ended 2023 with $1.7 billion of excess and available capital, including $935 million at the holding company, above the $800 million targeted level [55] Business Line Performance - Retirement and Income Solutions (RIS) saw a 22% increase in pre-tax operating earnings in Q4 2023 compared to Q4 2022, driven by business growth, higher net investment income, and favorable markets [20] - RIS sales increased 9% in 2023, with fee-based transfer deposits up 17% and $3 billion in pension risk transfer sales [11] - Specialty Benefits achieved a 9% growth in premium and fees in 2023, with strong retention and employment growth contributing to the increase [29] - Principal International reported a 9% revenue growth in 2023, with a 32% margin and an 11% increase in pre-tax operating earnings over 2022 [75] Market Performance - The S&P 500 daily average increased 4% from 2022, with the index up 24% from the end of 2022 [74] - Retail net cash flow remains challenged, with approximately $6 trillion of assets in money market funds or cash equivalents [10] - The company benefited from diversification across institutional, retail, retirement, private assets, and international geographies [10] Strategic Direction and Industry Competition - The company is focused on maintaining capital and liquidity targets, with a balanced approach to capital deployment [22] - Principal International expects low single-digit revenue growth in 2024, reflecting foreign currency translation and macro headwinds in Asia [36] - The company is targeting $1.5 billion to $1.8 billion in capital deployments for 2024, including $800 million to $1.1 billion in share repurchases [93] Management Commentary on Operating Environment and Future Outlook - The company expects 9% to 12% growth in earnings per share and 75% to 85% free capital flow conversion in 2024 [63] - Management anticipates continued pressure on real estate returns and prepayment fees if the current macro environment persists [34] - The company is well-positioned to deliver on long-term financial targets, with a strong capital position and momentum heading into 2024 [37] Other Important Information - The company announced the retirement of Pat Halter, President of Principal Asset Management, after 40 years of service [18] - Principal Asset Management was named a Best Place to Work in Money Management for the 12th consecutive year [51] - The company established a Bermuda reinsurance entity, which freed up $200 million of capital in Q4 2023 [58] Q&A Session Summary Question: Outlook for real estate-related activities in 2024 [39] - The company expects continued pressure on real estate revenue, with variable investment income difficult to predict [34] - The commercial mortgage loan portfolio remains healthy, with an average loan-to-value of 49% and a stable debt service coverage ratio of 2.5x [21] Question: Impact of exiting guaranteed products in Hong Kong [72] - The exit freed up $30 million to $40 million in capital in Q4 2023, with a similar amount expected in early 2024 [73] - The exit will pressure Hong Kong earnings by approximately $10 million on a pre-tax basis in 2024 [73] Question: Trends in RIS fee flows in the SMB market [83] - SMB transfer deposits increased 12% on a trailing 12-month basis, with recurring deposits up 14% [83] - The company sees healthy fundamentals in the SMB market, driven by participant deferrals and employer matches [83] Question: Competitive environment in RIS [106] - The company remains competitive, with WSRS sales up 14% and fee-based transfer deposits up 17% in 2023 [107] - Strong revenue retention and underlying business fundamentals support the company's ability to compete effectively [107] Question: Commercial mortgage loan portfolio maturities [200] - The company has 11 office loans maturing in 2024, with one already paid off in January [201] - The remaining loans have a 66% loan-to-value and a debt service coverage ratio of 3.8x, with 94% occupancy [208] Question: Outlook for alternative returns [142] - The company expects alternative returns to be in the 8% to 8.5% range, with real estate pre-pays likely running below expectations [143] - Private equity and hedge funds performed better than expected in 2023, offsetting some real estate pressures [149]

Financial Performance - Full year 2023 non-GAAP EPS, excluding significant variances, increased by 6% to $6.92, reaching the top end of the 3-6% guidance[14] - Q4 2023 non-GAAP EPS, excluding significant variances, increased 11% from Q4 2022 to $1.81[6] - Reported non-GAAP operating earnings for full year 2023 were $1,603 million, a decrease of 1% compared to FY 2022[1] - Assets under management (AUM) managed by PFG reached $695 billion, a 9% increase compared to 2022[1] Capital Deployment and Liquidity - The company returned $1.3 billion of capital to shareholders in 2023, including $0.7 billion in share repurchases and $0.6 billion in common stock dividends ($2.60 per share)[1, 29] - Excess and available capital stood at $1.7 billion, with $935 million at the Hold Co level[1] - The company announced a new share repurchase authorization of $1.5 billion[29] - The company is targeting $1.5 - $1.8 billion of capital deployments in 2024, including $0.8 - $1.1 billion of share repurchases and a 40% dividend payout ratio[23] Business Segment Highlights - RIS (Retirement and Income Solutions) total recurring deposits increased 12% vs 4Q22[19] - Specialty Benefits premium and fees increased 9% vs both 4Q22 and FY 2022[9, 45] - Principal International combined net revenue (at PFG share) for 4Q23 was $266.3 million[130]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1-16725 (Commission file number) PRINCIPAL FINANCIAL GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 42-1520346 (State or other jurisdiction of incorp ...

Principal Financial Group, Inc. (NASDAQ:PFG) Q3 2023 Earnings Conference Call October 27, 2023 10:00 AM ET Company Participants Humphrey Lee - Vice President of Investor Relations Dan Houston - Chief Executive Officer Deanna Strable - Chief Financial Officer Pat Halter - President and Chief Executive Officer, Principal Asset Management Chris Littlefield - President, Retirement and Income Solutions Amy Friedrich - President, Benefits and Protection Conference Call Participants Ryan Krueger - KBW Jimmy Bhulla ...

| --- | --- | |-----------------------------------------------|-------| | | | | O Principal® | | | Third Quarter 2023 Earnings Call Presentation | | | PRINCIPAL FINANCIAL GROUP October 26, 2023 | | | --- | --- | |---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 1-16725 (Commission file number) PRINCIPAL FINANCIAL GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 42-1520346 (State or other jurisdiction of incorporati ...

Principal Financial Group, Inc. (NASDAQ:PFG) Q2 2023 Results Conference Call July 28, 2023 10:00 AM ET Company Participants Humphrey Lee - Vice President of Investor Relations Dan Houston - CEO Deanna Strable - CFO Chris Littlefield - Retirement and Income Solutions Pat Halter - Asset Management Amy Friedrich - Benefits and Protection Conference Call Participants Suneet Kamath - Jefferies Ryan Krueger - KBW Tom Gallagher - Evercore ISI Erik Bass - Autonomous Research John Barnidge - Piper Sandler Wes Carmic ...