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Ameriprise Financial Third Quarter 2025 Conference Call October 30, 2025 © 2025 Ameriprise Financial, Inc. All rights reserved. Forward-looking statements Some of the statements made in our October 30, 2025 earnings release and/or in this presentation constitute forward-looking statements. These statements reflect management's estimates, plans, beliefs and expectations, and speak only as of October 30, 2025. These forward-looking statements involve a number of risks and uncertainties. | | | Quarter-Ended Se ...

Core Insights - The stock of SoFi Technologies, Inc. (SOFI) is experiencing strong bullish momentum, indicating a potential continuation of this trend in the near future [1] Group 1: Analyst Profile - JR Research is recognized as a Top Analyst by TipRanks and Seeking Alpha, focusing on technology, software, and internet sectors [1] - The analyst identifies attractive risk/reward opportunities that could generate alpha above the S&P 500, demonstrating outperformance with selected picks [1] - The investment strategy emphasizes growth opportunities with significant upside potential, avoiding overhyped stocks while targeting beaten-down stocks [1] Group 2: Investment Strategy - The investment group Ultimate Growth Investing specializes in identifying high-potential opportunities across various sectors, focusing on stocks with strong growth potential and attractive valuations [1] - The investment outlook typically spans 18 to 24 months for the thesis to materialize, targeting robust fundamentals and buying momentum [1]

Core Insights - S&P Global Inc. will host an Investor Day on November 13, 2025, in New York City, focusing on the company's strategy, go-to-market initiatives, technology, and financial targets [1][2]. Group 1: Event Details - The Investor Day will feature presentations from Martina Cheung, President and CEO, Eric Aboaf, CFO, and other senior leaders [1]. - The event will be available for public viewing via a live webcast starting at 1:00 p.m. ET and concluding at 4:00 p.m. ET on November 13 [2]. - The webcast will be accessible live and in replay for one year on the company's investor relations website [2]. Group 2: Company Overview - S&P Global provides essential intelligence to governments, businesses, and individuals, enabling informed decision-making [4]. - The company is recognized for offering credit ratings, benchmarks, analytics, and workflow solutions across various global markets [5].

Group 1 - The current technological revolution and industrial transformation are accelerating, with AI, quantum computing, and biotechnology reshaping the global industrial landscape and raising higher demands on the financial service system [1] - The 2025 Financial Street Forum focused on how finance can better empower the development of innovative small and medium-sized enterprises (SMEs) [1][9] - The China Securities Regulatory Commission (CSRC) is accelerating the formation of a new ecosystem in the capital market that focuses on serving SMEs, enhancing its service capabilities for innovative SMEs [3][9] Group 2 - Various market segments, including the Shanghai and Shenzhen main boards, ChiNext, the Beijing Stock Exchange, and regional equity markets, have developed distinct characteristics and complementary roles, forming a financial service system that covers the entire lifecycle of technology innovation enterprises [4] - The Beijing Stock Exchange has gathered a number of quality innovative SMEs and is working on optimizing listing standards to better serve the development of new productive forces [4][5] - Private equity funds have participated in 90% of the companies listed on the Sci-Tech Innovation Board and the Beijing Stock Exchange, covering the entire cycle from startup to maturity [7] Group 3 - The importance of cross-market cooperation has become increasingly prominent with the rapid development of technology innovation [8][12] - International investors' confidence in the Chinese market has been boosted by advancements in technologies such as AI, while the mechanisms for financial services to support innovative SMEs are continuously being optimized [9][10] - The Singapore Exchange has made positive progress in ETF connectivity and index co-construction with China, highlighting the significance of cross-market collaboration [12][13] Group 4 - China's economy has entered a new phase of "structural upgrading and power conversion," with manufacturing upgrades, technological innovation, green transformation, and expanded domestic demand becoming new support points for economic growth [15] - Two key trends are emerging: technology-driven new productive forces and the release of domestic demand potential, indicating a shift from "factor-driven" to "innovation-driven" growth [17] - Sustainable development is a critical focus in China's 14th Five-Year Plan, posing challenges for economic development while driving innovation across various sectors [19]

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Overall Performance - As of October 23, there are 235 public "fixed income + options" wealth management products with an average net value growth rate of 1.67% and an average maximum drawdown of 0.32% over the past three months [3] - All products achieved positive returns in the last three months, with 13 products having a net value growth rate below 0.5%, the lowest being "Yunong Commercial Bank Wealth Management 'Yizun Jinxijiangyu Chuan Cheng' Closed 2025 No. 51703" at 0.12% [3] - The top ten products include five from China Merchants Bank Wealth Management, two from Xinyin Wealth Management, two from Jiaoyin Wealth Management, and one from ICBC Wealth Management [3] Highlighted Product Analysis - The leading product, "China Merchants Bank Wealth Management 'Zhaorui Focus Linked Stable Large Asset Index Closed (Exclusive) No. 1'", was established on January 10, 2025, with a risk rating of PR2 and is set to mature on January 8, 2026 [4] - As of mid-2025, the product had a net asset value of 122 million yuan and a leverage level of 102.1% [4] - The investment strategy allocates no less than 80% of funds to fixed income assets and no more than 5% to call options linked to the WARP2.WI index, with a focus on high-grade bonds and quality deposit assets [4] Performance of Linked Index - As of October 30, the WARP2.WI index linked to the product had an annualized return of 2.56% over the past month, slightly lower than the 2.77% return of the CSI 300 index during the same period [5] - The annualized returns for the WARP2.WI index were 5.23% and 7.14% over the past three and six months, respectively, both significantly lower than the CSI 300 index [5] - Over a five-year period, the WARP2.WI index achieved an annualized return of 6.42%, while the CSI 300 index recorded a -0.11% decline [5]

Core Insights - Flow Traders Ltd. has secured a new $200 million private credit facility and a $75 million revolving credit facility to enhance its trading capital base [2][3] - The interest rate on the private credit facility is SOFR + 500 basis points, which can decrease to SOFR + 450 basis points if certain financial ratios are met [3] - The proceeds from these credit facilities will primarily be used for trading capital purposes, supporting the company's growth and diversification agenda [5] Company Overview - Flow Traders is a leading global trading firm that provides liquidity across multiple asset classes and major exchanges, with a focus on being a top ETF market maker [6] - The company has expanded its expertise from trading European equity ETPs into fixed income, commodities, digital assets, and foreign exchange globally [6] - Flow Traders aims to ensure market resilience and orderly functioning by providing liquidity, enabling investors to buy or sell financial instruments under various market conditions [6] Financial Partners - Benefit Street Partners and Stone Point Credit co-led the financing, emphasizing the importance of this capital raise for Flow Traders' strategy [4] - Benefit Street Partners manages $82 billion in assets globally, while Stone Point Credit oversees more than $11.5 billion in assets [8][9]

Core Insights - The company achieved a revenue growth of 34.3% in Q3 2025, with an organic revenue growth of 8.5%, driven by investments in products, platforms, and AI [2][6] - The integration of Netcompany Banking Services into the Netcompany Group is progressing faster than expected, presenting new opportunities in the Financial Services Industry [4][6] - The company launched new products in the Defence and Resilience, Real Estate, and Life & Pension verticals, responding to increased demand for real-time solutions [3][5] Financial Performance - Organic revenue for Q3 2025 reached DKK 1,746.9 million, reflecting an 8.2% increase, while reported revenue grew to DKK 2,167.8 million, a 34.3% increase [6] - Organic adjusted EBITDA increased by 8.5% to DKK 332.3 million, maintaining an organic adjusted EBITDA margin of 19% [6] - The company revised its financial guidance, expecting organic revenue growth between 6% and 8% for 2025, and adjusted EBITDA margin between 16% and 18% [6] Strategic Initiatives - The company is focusing on European digital sovereignty, emphasizing solutions developed and hosted in Europe [5] - Cost synergies from the integration of Netcompany Banking Services are expected to reach DKK 300 million to DKK 350 million annually by 2028 [6] - The average number of full-time employees was 9,482, with 911 FTEs from Netcompany Banking Services [6]

Core Viewpoint - MarketWise, Inc. has received a proposal from Monument & Cathedral Holdings, LLC to acquire all outstanding equity interests for cash consideration of $17.25 per share, contingent upon the termination of MarketWise's tax receivable agreement [1] Summary by Relevant Sections Acquisition Proposal - The proposal involves acquiring all outstanding equity interests of MarketWise, Inc. and Marketwise, LLC not owned by M&C for $17.25 per share [1] - The Board of Directors is currently reviewing the proposal with its advisors [1] - There is no guarantee that this proposal will lead to a transaction, and the company will not provide updates unless a definitive agreement is reached or required by U.S. securities laws [1] Financial Considerations - The cash consideration of $17.25 per share is contingent upon the termination of MarketWise's tax receivable agreement [1]