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Exhibit 99.1Release:On receipt, March 1, 2023Media Contact:Jane Slusark, 515-362-0482, slusark.jane@principal.comInvestor Contact:Humphrey Lee, 877-909-1105, lee.humphrey@principal.com2023 and long-term guidanceGuidance measure2022
revenue,
as recast
for LDTI
(in millions)2022
revenue,
excluding
significant variances 3
(in millions)2023
revenue
growth &
margin
guidance,
excluding
significant
variances 4Long-
term
guidanceRetirement and Income SolutionsNet revenue 51-4%2-5%Operating margin 635-39%36-40%Principal Asset ManagementPrincipal Global InvestorsOperating revenues less pass-through expenses 7(5)-(1)%4-7%Operating margin 834-37%34-38%Principal InternationalCombined net revenue (at PFG share) 97-11%Operating margin 1030-34%Benefits and ProtectionSpecialty BenefitsPremium and fees 118-10%7-10%Operating margin 1212-16%Incurred loss ratio60-65%Life Insurance0-3%14-18%15-19%Exhibit 1Impacts of the 2022 significant variances (in millions)Revenue metric2022
revenue, as
recast for
LDTIActuarial
assumption
reviewCOVID-19
impactsOther 192022
revenue,
excluding
significant
variancesNet revenueOperating revenues less pass-through expenses-Combined net revenue (at PFG share)Premium and feesUnaudited Supplemental Consolidated Financial InformationRecast for LDTIPreviously reportedFor the year ended,December 31,
2022December 31,
2021Net income attributable to Principal Financial Group, Inc.As ofDecember 31,
2022December 31,
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