The Principal Financial Group to Purchase Majority Stake in Claritas; Terms Not Disclosed

The Principal Financial Group, Inc.

today announced a definitive agreement to purchase a 60 percent indirect ownership of Claritas Administração de Recursos Ltda. / Claritas Investments, Ltd. (Claritas). Price is not being disclosed. Claritas is a leading Brazilian mutual fund and asset management company with more than R$3.1 billion in assets under management1 (US$1.8B). The Sao Paulo-based company manages equity funds, balanced funds, managed accounts and other strategies for affluent clients and institutions through its multi-channel distribution network.