PFG

EX-99

2 tm2628273d1_ex99.htm

EXHIBIT 99

Exhibit 99

INVESTOR CONTACT:

MEDIA CONTACT:

Humphrey Lee 877-909-1105, lee.humphrey@principal.com

Sara Bonney 515-878-0835, bonney.sara@principal.com

Principal Financial Group® Announces Third Quarter 2026 Results

Raises fourth quarter 2026 common stock dividend

(Des Moines, Iowa) – Principal Financial Group® (Nasdaq: PFG) announced results for third quarter 2026.

Diluted earnings per common share

3Q26

Earnings (in millions)

3Q26

Net income attributable to PFG $2.91

Net income attributable to PFG $632

Non-GAAP

net income attributable to PFG, excluding exited business1 $1.64

Non-GAAP

net income attributable to PFG, excluding exited business1 $355

Non-GAAP

operating earnings1 $2.22

Non-GAAP

operating earnings1 $482

Non-GAAP

operating earnings excluding significant variances2 $2.49

Non-GAAP

operating earnings excluding significant variances2 $541

Third Quarter 2026 Highlights

·Non-GAAP operating earnings per diluted share, excluding significant variances2 of $2.49 increased 7% over prior year quarter; reported non-GAAP operating earnings per diluted share increased 6%

·Returned $429 million of capital to shareholders, including $250 million of share repurchases and $179 million of common stock dividends

·Announced common stock dividend increase of $0.01 to $0.85 per share in the fourth quarter 2026; representing an 8% increase over the fourth quarter 2025 and 7% on a trailing twelve-month basis

·Assets under management (AUM) of $785 billion, which is included in assets under administration (AUA) of $1.8 trillion

·Strong financial position with $1.5 billion of excess and available capital

Deanna Strable, Chair, President and CEO of Principal®

“Our third-quarter results demonstrate the strength of our diversified business and the progress we’re making against our strategic priorities. We grew earnings per share, continued to build momentum in the markets where we’re focused, and returned $429 million to shareholders. We’re seeing the benefits of our focus on areas where our expertise, differentiated solutions, and strong customer relationships position us to win.

As the environment evolves, our priorities remain clear. We’re confident in delivering on our 2026 outlook and continuing to create long-term value for our customers, employees, and shareholders.”

1 Use of non-GAAP financial measures and their reconciliations to the most directly comparable GAAP measures are included in this release. Non-GAAP operating earnings for total company is after tax. Beginning 3Q 2026, impacts of the actuarial assumption review are excluded from non-GAAP operating earnings.

2 The total company impact of significant variances is after tax. See Exhibit 1 for details on the impact of 3Q 2026 and 3Q 2025 significant variances on net income attributable to PFG; non-GAAP net income attributable to PFG, excluding exited business; and non-GAAP operating earnings.

Third Quarter Enterprise Results

In millions except percentages, earnings per share, or otherwise noted

Three Months Ended, Trailing Twelve Months,

3Q26

3Q25

Change

3Q26

3Q25

Change

Net income (loss) attributable to PFG $631.9 $213.8 N/M $1,976.9 $1,573.5 26%

Non-GAAP net income attributable to PFG, excluding exited

business $354.8 $465.6 (24)% $1,700.2 $1,550.8 10%

Non-GAAP operating earnings

$481.8 $473.7 2% $1,972.9 $1,825.6 8%

Non-GAAP operating earnings, excluding significant variances2

$540.6 $523.3 3% $2,046.7 $1,915.7 7%

Diluted earnings per common share

Net income (loss) attributable to PFG $2.91 $0.95 N/M

Non-GAAP net income attributable to PFG, excluding exited

business $1.64 $2.06 (20)%

Non-GAAP operating earnings

$2.22 $2.10 6%

Non-GAAP operating earnings,

excluding significant variances2 $2.49 $2.32 7%

Assets under administration (billions) $1,840.3 $1,792.5 3%

Assets under management (billions) $785.0 $784.3 0%

AUM net cash flow (billions) $(10.7) $0.4 $(11.1) $(25.5) $(7.8) $(17.7)

Third Quarter Segment Highlights (compared to 3Q25)

Retirement and Income Solutions

·Recurring deposits of $13 billion, up 8%. PRT sales of $0.9 billion.

·SMB momentum with transfer deposits up 21% and recurring deposits up 7%.

Principal Asset Management

·Investment Management private markets AUM up 6%, supported by $0.8 billion private institutional inflows in the quarter; active ETF net inflows of $0.5 billion.

·International Pension AUM of $166 billion increased 10%.

Benefits and Protection

·Specialty Benefits premium & fees increased 6% with sales up 10%; strong underwriting results with loss ratio of 59% which remains below targeted range of 60-64%.

·Life Insurance operating margin3 of 13.6%, driven by favorable mortality experience.

3 Operating margin for Benefits and Protection = pre-tax operating earnings divided by premium and fees.

Segment Results

In millions except percentages, or otherwise noted except percentages or otherwise noted)

Retirement and Income Solutions

Three Mo

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