EQUITABLE AMERICA VARIABLE ACCOUNT L

FINANCIAL STATEMENTS

December 31, 2023

INDEX TO FINANCIAL STATEMENTS	Page
Report of Independent Registered Public Accounting Firm	1
Statement of Assets and Liabilities as of December 31, 2023	3
Statement of Operations for Year Ended December 31, 2023	16
Statement of Changes in Net Assets for the Year Ended December 31, 2023	24
Statement of Changes in Net Assets for the Year or period Ended December 31, 2022	32
Notes to Financial Statements	40

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Equitable Financial Life Insurance Company of America and the Contractowners of Equitable America Variable Account L

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the variable investment options of Equitable America Variable Account L indicated in the table below as of December 31, 2023, the related statements of operations for the year then ended, and the statements of changes in net assets for each of the two years in the period ended December 31, 2023, including the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the variable investment options of Equitable America Variable Account L as of December 31, 2023, the results of each of their operations for the year then ended, and the changes in each of their net assets for each of the two years in the period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

1290 VT Equity Income	EQ/Moderate-Plus Allocation
1290 VT GAMCO Small Company Value	EQ/Money Market
1290 VT Socially Responsible	EQ/Morgan Stanley Small Cap Growth
BNY Mellon Stock Index Fund, Inc.	EQ/PIMCO Ultra Short Bond
EQ/AB Small Cap Growth	EQ/Quality Bond PLUS
EQ/Aggressive Allocation	EQ/Small Company Index
EQ/All Asset Growth Allocation	EQ/JPMorgan Growth Stock
EQ/Capital Group Research	EQ/Value Equity
EQ/Conservative Allocation	Fidelity® VIP Contrafund® Portfolio
EQ/Conservative-Plus Allocation	Franklin Income VIP Fund
EQ/Core Bond Index	Franklin Rising Dividends VIP Fund
EQ/Core Plus Bond	Invesco V.I. Diversified Dividend Fund
EQ/Global Equity Managed Volatility	Invesco V.I. Global Core Equity Fund
EQ/Intermediate Government Bond	Invesco V.I. Global Fund
EQ/Janus Enterprise	Invesco V.I. Health Care Fund
EQ/Large Cap Growth Managed Volatility	Invesco V.I. Technology Fund
EQ/Large Cap Value Index	Janus Henderson Balanced Portfolio
EQ/Large Cap Value Managed Volatility	Janus Henderson Enterprise Portfolio
EQ/Loomis Sayles Growth Portfolio	Janus Henderson Forty Portfolio
EQ/MFS International Growth	Janus Henderson Global Research Portfolio
EQ/Mid Cap Index	Janus Henderson Overseas Portfolio
EQ/Mid Cap Value Managed Volatility	MFS® Utilities Series
EQ/ Moderate Allocation	PIMCO Global Bond Opportunities Portfolio (Unhedged)

Basis for Opinions

These financial statements are the responsibility of Equitable Financial Life Insurance Company of America management. Our responsibility is to express an opinion on the financial statements of each of the variable investment options of Equitable America Variable Account L based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to each of the variable investment options of Equitable America Variable Account L in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

PricewaterhouseCoopers LLP, 214 North Tryon Street, Suite 4200 Charlotte, NC 28202

T: (704) 344 7500, F: (704) 344 4100 www.pwc.com/us

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of investments owned as of December 31, 2023 by correspondence with the transfer agents of the investee mutual funds or the investee mutual funds directly. We believe that our audits provide a reasonable basis for our opinions.

PricewaterhouseCoopers LLP

Charlotte, North Carolina

April 12, 2024

We have served as the auditor of one or more of the variable investment options of Equitable America Variable Account L since at least 1998. We have not been able to determine the specific year we began serving as auditor of the Separate Account.

Equitable America Variable Account L

Statement of Assets and Liabilities

December 31, 2023

	1290 VT Equity Income*		1290 VT GAMCO Small Company Value*		1290 VT Socially Responsible*		BNY Mellon Stock Index Fund, Inc.		EQ/AB Small Cap Growth*		EQ/Aggressive Allocation*
Assets:
Investments in shares of the Portfolios, at fair value	$	7,547,806	$	71,216,590	$	2,172,100	$	25,244,915	$	754,385	$	1,415,295
Receivable for shares of the Portfolios sold		565		9,516		54		1,184		11		39
Receivable for policy-related transactions		-		-		-		-		-		-
Total assets		7,548,371		71,226,106		2,172,154		25,246,099		754,396		1,415,334

Liabilities:
Payable for shares of the Portfolios purchased		-		-		-		-		-		-
Payable for policy-related transactions		565		9,517		54		1,184		11		39
Total liabilities		565		9,517		54		1,184		11		39

Net Assets	$	7,547,806	$	71,216,589	$	2,172,100	$	25,244,915	$	754,385	$	1,415,295

Net Assets:
Accumulation unit values	$	7,547,806	$	71,216,589	$	2,172,100	$	25,244,915	$	754,385	$	1,415,295
Total Net Assets	$	7,547,806	$	71,216,589	$	2,172,100	$	25,244,915	$	754,385	$	1,415,295

Investments in shares of the Portfolios, at cost		7,899,694		48,477,773		1,281,914		16,234,339		810,019		1,528,818

Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	EQ/All Asset Growth Allocation*		EQ/Capital Group Research*		EQ/Conservative Allocation*		EQ/Conservative- Plus Allocation*		EQ/Core Bond Index*		EQ/Core Plus Bond*
Assets:
Investments in shares of the Portfolios, at fair value	$	50,273,603	$	23,580,995	$	141,617	$	706,813	$	9,010,928	$	765,272
Receivable for shares of the Portfolios sold		8,025		2,406		9		744		-		61
Receivable for policy-related transactions		-		-		-		-		2,496		-
Total assets		50,281,628		23,583,401		141,626		707,557		9,013,424		765,333

Liabilities:
Payable for shares of the Portfolios purchased		-		-		-		-		2,496		-
Payable for policy-related transactions		8,025		2,406		9		744		-		61
Total liabilities		8,025		2,406		9		744		2,496		61

Net Assets	$	50,273,603	$	23,580,995	$	141,617	$	706,813	$	9,010,928	$	765,272

Net Assets:
Accumulation unit values	$	50,273,603	$	23,580,995	$	141,617	$	706,813	$	9,010,928	$	765,272
Total Net Assets	$	50,273,603	$	23,580,995	$	141,617	$	706,813	$	9,010,928	$	765,272

Investments in shares of the Portfolios, at cost		53,234,249		20,833,773		157,365		820,021		9,695,705		854,541

Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	EQ/Global Equity Managed Volatility*		EQ/Intermediate Government Bond*		EQ/Janus Enterprise*		EQ/Large Cap Growth Managed Volatility*		EQ/Large Cap Value Index*		EQ/Large Cap Value Managed Volatility*
Assets:
Investments in shares of the Portfolios, at fair value	$	790,579	$	2,708,311	$	8,935,478	$	11,222,509	$	7,231,899	$	1,167,773
Receivable for shares of the Portfolios sold		99		-		421		771		85		336
Receivable for policy-related transactions		-		273		-		-		-		-
Total assets		790,678		2,708,584		8,935,899		11,223,280		7,231,984		1,168,109

Liabilities:
Payable for shares of the Portfolios purchased		-		273		-		-		-		-
Payable for policy-related transactions		99		-		421		770		85		336
Total liabilities		99		273		421		770		85		336

Net Assets	$	790,579	$	2,708,311	$	8,935,478	$	11,222,510	$	7,231,899	$	1,167,773

Net Assets:
Accumulation unit values	$	790,579	$	2,708,311	$	8,935,478	$	11,222,510	$	7,231,899	$	1,167,773
Total Net Assets	$	790,579	$	2,708,311	$	8,935,478	$	11,222,510	$	7,231,899	$	1,167,773

Investments in shares of the Portfolios, at cost		703,962		2,886,873		7,997,345		10,689,458		5,332,571		959,149

Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	EQ/Loomis Sayles Growth Portfolio*		EQ/MFS International Growth*		EQ/Mid Cap Index*		EQ/Mid Cap Value Managed Volatility*		EQ/Moderate Allocation*		EQ/Moderate- Plus Allocation*
Assets:
Investments in shares of the Portfolios, at fair value	$	76,352,919	$	11,117,188	$	4,428,203	$	10,665,288	$	3,416,424	$	2,490,866
Receivable for shares of the Portfolios sold		4,158		844		234		415		1,082		141
Receivable for policy-related transactions		-		-		-		-		-		-
Total assets		76,357,077		11,118,032		4,428,437		10,665,703		3,417,506		2,491,007

Liabilities:
Payable for shares of the Portfolios purchased		-		-		-		-		-		-
Payable for policy-related transactions		4,158		844		234		415		1,082		141
Total liabilities		4,158		844		234		415		1,082		141

Net Assets	$	76,352,919	$	11,117,188	$	4,428,203	$	10,665,288	$	3,416,424	$	2,490,866

Net Assets:
Accumulation unit values	$	76,352,919	$	11,117,188	$	4,428,203	$	10,665,288	$	3,416,424	$	2,490,866
Total Net Assets	$	76,352,919	$	11,117,188	$	4,428,203	$	10,665,288	$	3,416,424	$	2,490,866

Investments in shares of the Portfolios, at cost		56,983,053		10,435,709		3,276,969		8,583,787		3,746,527		2,807,652

Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	EQ/Money Market*		EQ/Morgan Stanley Small Cap Growth*		EQ/PIMCO Ultra Short Bond*		EQ/Quality Bond PLUS*		EQ/Small Company Index*		EQ/JPMorgan Growth Stock Portfolio*
Assets:
Investments in shares of the Portfolios, at fair value	$	6,936,421	$	12,007,321	$	1,591,649	$	3,394,068	$	1,254,776	$	51,304,438
Receivable for shares of the Portfolios sold		-		817		218		-		79		10,351
Receivable for policy-related transactions		1,290		-		-		775		-		-
Total assets		6,937,711		12,008,138		1,591,867		3,394,843		1,254,855		51,314,789

Liabilities:
Payable for shares of the Portfolios purchased		1,290		-		-		775		-		-
Payable for policy-related transactions		-		817		218		-		79		10,351
Total liabilities		1,290		817		218		775		79		10,351

Net Assets	$	6,936,421	$	12,007,321	$	1,591,649	$	3,394,068	$	1,254,776	$	51,304,438

Net Assets:
Accumulation unit values	$	6,936,421	$	12,007,321	$	1,591,649	$	3,394,068	$	1,254,776	$	51,304,438
Total Net Assets	$	6,936,421	$	12,007,321	$	1,591,649	$	3,394,068	$	1,254,776	$	51,304,438

Investments in shares of the Portfolios, at cost		6,936,169		18,927,583		1,618,757		3,787,841		1,204,547		33,717,599

Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	EQ/Value Equity*		Fidelity^® VIP Contrafund^® Portfolio		Franklin Income VIP Fund		Franklin Rising Dividends VIP Fund		Invesco V.I. Diversified Dividend Fund		Invesco V.I. Global Core Equity Fund
Assets:
Investments in shares of the Portfolios, at fair value	$	1,063,448	$	27,531,670	$	5,796,462	$	1,836,883	$	387,613	$	393,675
Receivable for shares of the Portfolios sold		117		-		184		138		5		41
Receivable for policy-related transactions		-		923		-		-		-		-
Total assets		1,063,565		27,532,593		5,796,646		1,837,021		387,618		393,716

Liabilities:
Payable for shares of the Portfolios purchased		-		923		-		-		-		-
Payable for policy-related transactions		117		-		184		138		5		41
Total liabilities		117		923		184		138		5		41

Net Assets	$	1,063,448	$	27,531,670	$	5,796,462	$	1,836,883	$	387,613	$	393,675

Net Assets:
Accumulation unit values	$	1,063,448	$	27,531,670	$	5,796,462	$	1,836,883	$	387,613	$	393,675
Total Net Assets	$	1,063,448	$	27,531,670	$	5,796,462	$	1,836,883	$	387,613	$	393,675

Investments in shares of the Portfolios, at cost		907,168		18,229,492		5,962,479		1,613,535		343,792		364,222

Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	Invesco V.I. Global Fund		Invesco V.I. Health Care Fund		Invesco V.I. Technology Fund		Janus Henderson Balanced Portfolio		Janus Henderson Enterprise Portfolio		Janus Henderson Forty Portfolio
Assets:
Investments in shares of the Portfolios, at fair value	$	3,310,525	$	692,294	$	573,418	$	8,776,527	$	16,897,765	$	21,629,057
Receivable for shares of the Portfolios sold		136		28		95		137		191		776
Receivable for policy-related transactions		-		-		-		-		-		-
Total assets		3,310,661		692,322		573,513		8,776,664		16,897,956		21,629,833

Liabilities:
Payable for shares of the Portfolios purchased		-		-		-		-		-		-
Payable for policy-related transactions		136		28		95		137		191		776
Total liabilities		136		28		95		137		191		776

Net Assets	$	3,310,525	$	692,294	$	573,418	$	8,776,527	$	16,897,765	$	21,629,057

Net Assets:
Accumulation unit values	$	3,310,525	$	692,294	$	573,418	$	8,776,527	$	16,897,765	$	21,629,057
Total Net Assets	$	3,310,525	$	692,294	$	573,418	$	8,776,527	$	16,897,765	$	21,629,057

Investments in shares of the Portfolios, at cost		3,124,371		642,094		599,093		6,152,384		12,740,412		18,099,464

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	Janus Henderson Global Research Portfolio		Janus Henderson Overseas Portfolio		MFS^® Utilities Series		PIMCO Global Bond Opportunities Portfolio (Unhedged)
Assets:
Investments in shares of the Portfolios, at fair value	$	11,488,282	$	3,482,319	$	1,663,680	$	1,966,241
Receivable for shares of the Portfolios sold		-		99		26		-
Receivable for policy-related transactions		635		-		-		9
Total assets		11,488,917		3,482,418		1,663,706		1,966,250

Liabilities:
Payable for shares of the Portfolios purchased		635		-		-		9
Payable for policy-related transactions		-		99		26		-
Total liabilities		635		99		26		9

Net Assets	$	11,488,282	$	3,482,319	$	1,663,680	$	1,966,241

Net Assets:
Accumulation unit values	$	11,488,282	$	3,482,319	$	1,663,680	$	1,966,241
Total Net Assets	$	11,488,282	$	3,482,319	$	1,663,680	$	1,966,241

Investments in shares of the Portfolios, at cost		7,572,922		3,082,428		1,509,755		2,496,497

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

The following table provides the Portfolio shares held by the Variable Investment Options of the Variable Account.

		Portfolio
	Share Class **	Shares Held
1290 VT Equity Income	Class A		81,772
1290 VT Equity Income	Class B		1,475,565
1290 VT GAMCO Small Company Value	Class B		1,017,887
1290 VT Socially Responsible	Class A		79,911
1290 VT Socially Responsible	Class B		28,911
BNY Mellon Stock Index Fund, Inc.	Initial Shares		365,445
EQ/AB Small Cap Growth	Class A		45,225
EQ/Aggressive Allocation	Class B		143,513
EQ/All Asset Growth Allocation	Class B		2,836,012
EQ/Capital Group Research	Class A		794,687
EQ/Conservative Allocation	Class B		17,319
EQ/Conservative-Plus Allocation	Class B		86,075
EQ/Core Bond Index	Class A		978,986
EQ/Core Plus Bond	Class A		218,613
EQ/Global Equity Managed Volatility	Class A		49,012
EQ/Intermediate Government Bond	Class A		284,971
EQ/Janus Enterprise	Class A		437,050
EQ/Large Cap Growth Managed Volatility	Class B		383,712
EQ/Large Cap Value Index	Class A		724,548
EQ/Large Cap Value Managed Volatility	Class A		65,658
EQ/Loomis Sayles Growth Portfolio	Class B		7,401,654
EQ/MFS International Growth	Class B		1,523,705
EQ/Mid Cap Index	Class A		284,340
EQ/Mid Cap Value Managed Volatility	Class A		656,518
EQ/Moderate Allocation	Class B		288,935
EQ/Moderate-Plus Allocation	Class B		267,037
EQ/Money Market	Class A		6,931,312
EQ/Morgan Stanley Small Cap Growth	Class B		1,662,179
EQ/PIMCO Ultra Short Bond	Class B		163,352
EQ/Quality Bond PLUS	Class B		441,660
EQ/Small Company Index	Class A		113,433
EQ/JPMorgan Growth Stock Portfolio	Class B		913,682
EQ/Value Equity	Class B		48,314
Fidelity^® VIP Contrafund^® Portfolio	Service Class		570,014
Franklin Income VIP Fund	Class 2		408,202
Franklin Rising Dividends VIP Fund	Class 2		68,210
Invesco V.I. Diversified Dividend Fund	Series 1		15,991
Invesco V.I. Global Core Equity Fund	Series 1		40,711
Invesco V.I. Global Fund	Service Class		93,254
Invesco V.I. Health Care Fund	Series 1		26,719
Invesco V.I. Technology Fund	Series 1		30,996
Janus Henderson Balanced Portfolio	Institutional Shares		193,828
Janus Henderson Enterprise Portfolio	Institutional Shares		220,828
Janus Henderson Forty Portfolio	Institutional Shares		351,000
Janus Henderson Forty Portfolio	Service Shares		117,891
Janus Henderson Global Research Portfolio	Institutional Shares		188,024
Janus Henderson Overseas Portfolio	Service Shares		86,884
MFS^® Utilities Series	Initial Class		51,587
PIMCO Global Bond Opportunities Portfolio (Unhedged)	Administrative Class		204,391

Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 5 of these financial statements.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

The following table provides units outstanding and unit values associated with the Variable Investment Options of the Variable Account and is further categorized by share class and contract charges.

	Contract						Units
	Charges *			Share Class **	Unit Value		Outstanding
1290 VT Equity Income		0.60	%	Class A	$	30.05		13,069
1290 VT Equity Income		0.35	%	Class B	$	40.32		324
1290 VT Equity Income		0.35	%	Class B	$	40.77		5,353
1290 VT Equity Income		0.35	%	Class B	$	42.31		53,246
1290 VT Equity Income		0.35	%	Class B	$	41.61		73,164
1290 VT Equity Income		0.75	%	Class B	$	33.85		48,064

1290 VT GAMCO Small Company Value		0.35	%	Class B	$	84.11		990
1290 VT GAMCO Small Company Value		0.35	%	Class B	$	109.56		7,679
1290 VT GAMCO Small Company Value		0.35	%	Class B	$	87.46		165,390
1290 VT GAMCO Small Company Value		0.35	%	Class B	$	116.02		175,457
1290 VT GAMCO Small Company Value		0.75	%	Class B	$	198.43		178,756

1290 VT Socially Responsible		0.35	%	Class A	$	30.51		4,262
1290 VT Socially Responsible		0.35	%	Class A	$	31.65		38,639
1290 VT Socially Responsible		0.75	%	Class A	$	32.70		7,688
1290 VT Socially Responsible		0.35	%	Class B	$	42.87		13,240

BNY Mellon Stock Index Fund, Inc.		0.35	%	Initial Shares	$	47.49		17,583
BNY Mellon Stock Index Fund, Inc.		0.35	%	Initial Shares	$	47.77		407,183
BNY Mellon Stock Index Fund, Inc.		0.75	%	Initial Shares	$	40.30		123,070

EQ/AB Small Cap Growth		0.35	%	Class A	$	44.35		17,009

EQ/Aggressive Allocation		0.35	%	Class B	$	22.03		39,625
EQ/Aggressive Allocation		0.35	%	Class B	$	22.03		16,042
EQ/Aggressive Allocation		0.75	%	Class B	$	20.62		9,173

EQ/All Asset Growth Allocation		0.35	%	Class B	$	24.92		21
EQ/All Asset Growth Allocation		0.35	%	Class B	$	23.60		78,852
EQ/All Asset Growth Allocation		0.35	%	Class B	$	25.90		82,698
EQ/All Asset Growth Allocation		0.35	%	Class B	$	23.92		350,186
EQ/All Asset Growth Allocation		0.75	%	Class B	$	46.36		817,406

EQ/Capital Group Research		0.35	%	Class A	$	15.76		2,506
EQ/Capital Group Research		0.35	%	Class A	$	42.86		44,070
EQ/Capital Group Research		0.35	%	Class A	$	62.93		69,047
EQ/Capital Group Research		0.35	%	Class A	$	42.03		297,635
EQ/Capital Group Research		0.60	%	Class A	$	46.64		49,499
EQ/Capital Group Research		0.75	%	Class A	$	49.45		50,343

EQ/Conservative Allocation		0.35	%	Class B	$	14.17		5,851
EQ/Conservative Allocation		0.35	%	Class B	$	14.17		1,601
EQ/Conservative Allocation		0.75	%	Class B	$	13.26		2,714

EQ/Conservative-Plus Allocation		0.35	%	Class B	$	16.30		6,588
EQ/Conservative-Plus Allocation		0.35	%	Class B	$	16.30		16,451
EQ/Conservative-Plus Allocation		0.75	%	Class B	$	15.26		21,704

Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 5 of these financial statements.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	Contract						Units
	Charges *			Share Class **	Unit Value		Outstanding
EQ/Core Bond Index		0.35	%	Class A	$	16.26		296
EQ/Core Bond Index		0.35	%	Class A	$	15.61		40,597
EQ/Core Bond Index		0.35	%	Class A	$	16.35		221,213
EQ/Core Bond Index		0.35	%	Class A	$	15.85		196,975
EQ/Core Bond Index		0.60	%	Class A	$	11.74		4,818
EQ/Core Bond Index		0.75	%	Class A	$	11.49		137,150

EQ/Core Plus Bond		0.35	%	Class A	$	16.85		45,405

EQ/Global Equity Managed Volatility		0.35	%	Class A	$	64.73		12,214

EQ/Intermediate Government Bond		0.35	%	Class A	$	13.85		963
EQ/Intermediate Government Bond		0.35	%	Class A	$	16.29		233
EQ/Intermediate Government Bond		0.35	%	Class A	$	13.85		77,885
EQ/Intermediate Government Bond		0.35	%	Class A	$	16.23		67,460
EQ/Intermediate Government Bond		0.75	%	Class A	$	18.31		28,288

EQ/Janus Enterprise		0.35	%	Class A	$	37.26		602
EQ/Janus Enterprise		0.35	%	Class A	$	60.28		2,675
EQ/Janus Enterprise		0.35	%	Class A	$	37.52		185,451
EQ/Janus Enterprise		0.35	%	Class A	$	58.33		30,735

EQ/Large Cap Growth Managed Volatility		0.35	%	Class B	$	49.83		10,434
EQ/Large Cap Growth Managed Volatility		0.35	%	Class B	$	49.83		159,475
EQ/Large Cap Growth Managed Volatility		0.75	%	Class B	$	46.31		59,495

EQ/Large Cap Value Index		0.35	%	Class A	$	38.02		2,406
EQ/Large Cap Value Index		0.35	%	Class A	$	40.42		2,272
EQ/Large Cap Value Index		0.35	%	Class A	$	40.41		141,958
EQ/Large Cap Value Index		0.35	%	Class A	$	40.19		32,630

EQ/Large Cap Value Managed Volatility		0.35	%	Class A	$	29.12		9
EQ/Large Cap Value Managed Volatility		0.35	%	Class A	$	29.96		38,971

EQ/Loomis Sayles Growth Portfolio		0.35	%	Class B	$	58.94		6,997
EQ/Loomis Sayles Growth Portfolio		0.35	%	Class B	$	57.26		86,058
EQ/Loomis Sayles Growth Portfolio		0.35	%	Class B	$	60.24		233,760
EQ/Loomis Sayles Growth Portfolio		0.35	%	Class B	$	58.86		890,405
EQ/Loomis Sayles Growth Portfolio		0.75	%	Class B	$	43.25		104,457

EQ/MFS International Growth		0.35	%	Class B	$	28.75		2,663
EQ/MFS International Growth		0.35	%	Class B	$	30.60		148,452
EQ/MFS International Growth		0.75	%	Class B	$	42.74		152,053

EQ/Mid Cap Index		0.35	%	Class A	$	48.78		3,703
EQ/Mid Cap Index		0.35	%	Class A	$	50.99		83,305

EQ/Mid Cap Value Managed Volatility		0.35	%	Class A	$	37.86		2,979
EQ/Mid Cap Value Managed Volatility		0.35	%	Class A	$	37.86		3,663
EQ/Mid Cap Value Managed Volatility		0.35	%	Class A	$	37.86		192,199
EQ/Mid Cap Value Managed Volatility		0.35	%	Class A	$	37.86		82,843

EQ/Moderate Allocation		0.35	%	Class B	$	17.05		51,106
EQ/Moderate Allocation		0.35	%	Class B	$	17.05		58,740
EQ/Moderate Allocation		0.35	%	Class B	$	17.05		51,109
EQ/Moderate Allocation		0.75	%	Class B	$	15.96		42,106

Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 5 of these financial statements.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Continued)

December 31, 2023

	Contract						Units
	Charges *			Share Class **	Unit Value		Outstanding
EQ/Moderate-Plus Allocation		0.35	%	Class B	$	19.70		57,329
EQ/Moderate-Plus Allocation		0.35	%	Class B	$	19.70		55,208
EQ/Moderate-Plus Allocation		0.75	%	Class B	$	18.44		14,830

EQ/Money Market		0.35	%	Class A	$	11.72		304
EQ/Money Market		0.35	%	Class A	$	11.72		9,015
EQ/Money Market		0.35	%	Class A	$	11.72		309,168
EQ/Money Market		0.35	%	Class A	$	11.72		151,893
EQ/Money Market		0.60	%	Class A	$	11.20		764
EQ/Money Market		0.75	%	Class A	$	10.89		129,767

EQ/Morgan Stanley Small Cap Growth		0.35	%	Class B	$	14.34		3,047
EQ/Morgan Stanley Small Cap Growth		0.35	%	Class B	$	14.34		37,387
EQ/Morgan Stanley Small Cap Growth		0.35	%	Class B	$	14.34		248,194
EQ/Morgan Stanley Small Cap Growth		0.35	%	Class B	$	14.34		488,815
EQ/Morgan Stanley Small Cap Growth		0.75	%	Class B	$	34.70		24,855

EQ/PIMCO Ultra Short Bond		0.35	%	Class B	$	14.77		1,028
EQ/PIMCO Ultra Short Bond		0.35	%	Class B	$	14.72		95
EQ/PIMCO Ultra Short Bond		0.35	%	Class B	$	14.85		75,245
EQ/PIMCO Ultra Short Bond		0.35	%	Class B	$	14.75		31,031

EQ/Quality Bond PLUS		0.35	%	Class B	$	18.64		5,576
EQ/Quality Bond PLUS		0.35	%	Class B	$	18.74		84,081
EQ/Quality Bond PLUS		0.75	%	Class B	$	24.45		70,146

EQ/Small Company Index		0.35	%	Class A	$	52.12		24,073

EQ/JPMorgan Growth Stock Portfolio		0.35	%	Class B	$	48.19		10,520
EQ/JPMorgan Growth Stock Portfolio		0.35	%	Class B	$	48.68		289,735
EQ/JPMorgan Growth Stock Portfolio		0.75	%	Class B	$	95.23		385,328

EQ/Value Equity		0.35	%	Class B	$	39.58		26,866

Fidelity^® VIP Contrafund^®Portfolio		0.35	%	Service Class	$	65.82		19,981
Fidelity^® VIP Contrafund^®Portfolio		0.35	%	Service Class	$	70.78		268,650
Fidelity^® VIP Contrafund^®Portfolio		0.75	%	Service Class	$	57.48		125,274

Franklin Income VIP Fund		0.35	%	Class 2	$	21.75		6,443
Franklin Income VIP Fund		0.35	%	Class 2	$	34.30		164,928

Franklin Rising Dividends VIP Fund		0.35	%	Class 2	$	58.25		31,537

Invesco V.I. Diversified Dividend Fund		0.35	%	Series 1	$	20.16		19,228

Invesco V.I. Global Core Equity Fund		0.35	%	Series 1	$	26.06		15,109

Invesco V.I. Global Fund		0.35	%	Service Class	$	59.48		55,662

Invesco V.I. Health Care Fund		0.35	%	Series 1	$	44.08		101
Invesco V.I. Health Care Fund		0.35	%	Series 1	$	43.50		15,811

Invesco V.I. Technology Fund		0.35	%	Series 1	$	44.63		12,847

Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 5 of these financial statements.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Assets and Liabilities (Concluded)

December 31, 2023

	Contract						Units
	Charges *			Share Class **	Unit Value		Outstanding
Janus Henderson Balanced Portfolio		0.35	%	Institutional Shares	$	47.06		10,564
Janus Henderson Balanced Portfolio		0.35	%	Institutional Shares	$	47.92		150,246
Janus Henderson Balanced Portfolio		0.75	%	Institutional Shares	$	43.35		24,897

Janus Henderson Enterprise Portfolio		0.35	%	Institutional Shares	$	39.49		11,333
Janus Henderson Enterprise Portfolio		0.35	%	Institutional Shares	$	47.65		298,654
Janus Henderson Enterprise Portfolio		0.75	%	Institutional Shares	$	59.99		36,986

Janus Henderson Forty Portfolio		0.35	%	Institutional Shares	$	71.77		15,271
Janus Henderson Forty Portfolio		0.35	%	Institutional Shares	$	75.76		136,752
Janus Henderson Forty Portfolio		0.75	%	Institutional Shares	$	52.49		98,380
Janus Henderson Forty Portfolio		0.35	%	Service Shares	$	90.24		55,511

Janus Henderson Global Research Portfolio		0.35	%	Institutional Shares	$	25.66		16,444
Janus Henderson Global Research Portfolio		0.35	%	Institutional Shares	$	29.14		283,365
Janus Henderson Global Research Portfolio		0.75	%	Institutional Shares	$	19.37		145,010

Janus Henderson Overseas Portfolio		0.35	%	Service Shares	$	38.29		70
Janus Henderson Overseas Portfolio		0.35	%	Service Shares	$	38.39		90,634

MFS^® Utilities Series		0.35	%	Initial Class	$	69.03		196
MFS^® Utilities Series		0.35	%	Initial Class	$	72.03		22,911

PIMCO Global Bond Opportunities Portfolio (Unhedged)		0.35	%	Administrative Class	$	23.02		243
PIMCO Global Bond Opportunities Portfolio (Unhedged)		0.35	%	Administrative Class	$	20.96		1,994
PIMCO Global Bond Opportunities Portfolio (Unhedged)		0.35	%	Administrative Class	$	22.93		59,656
PIMCO Global Bond Opportunities Portfolio (Unhedged)		0.35	%	Administrative Class	$	22.11		24,912

Contract charges reflect the annual mortality and risk expenses related to the Variable Investment Option.

Share class reflects the share class of the Portfolio in which the units of the Variable Investment Option are invested, as further described in Note 5 of these financial statements.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Operations

For the year ended December 31, 2023

	1290 VT Equity Income*			1290 VT GAMCO Small Company Value*		1290 VT Socially Responsible*		BNY Mellon Stock Index Fund, Inc.		EQ/AB Small Cap Growth*			EQ/Aggressive Allocation*
Income and Expenses:
Investment Income:
Dividends from the Portfolios	$	151,936		$	415,602	$	14,634	$	328,778	$	1,705		$	18,305

Expenses:
Asset-based charges		32,874			365,726		8,049		98,010		2,398			5,176

Net Investment Income (Loss)		119,062			49,876		6,585		230,768		(693	)		13,129

Net Realized and Unrealized Gain(Loss) on Investments:
Realized gain (loss) on investments		(41,805	)		1,869,564		95,784		579,651		(7,362	)		(6,013	)
Realized gain distribution from the Portfolios		450,556			4,675,957		44,240		842,864		1,076			39,196
Net realized gain (loss) on investments		408,751			6,545,521		140,024		1,422,515		(6,286	)		33,183

Net change in unrealized appreciation (depreciation) of investments		(186,681	)		5,812,090		340,556		3,583,626		118,958			168,295
Net Realized and Unrealized Gain (Loss) on Investments		222,070			12,357,611		480,580		5,006,141		112,672			201,478

Net Increase (Decrease) in Net Assets Resulting from Operations	$	341,132		$	12,407,487	$	487,165	$	5,236,909	$	111,979		$	214,607

Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Operations (Continued)

For the year ended December 31, 2023

	EQ/All Asset Growth Allocation*			EQ/Capital Group Research*			EQ/Conservative Allocation*			EQ/Conservative- Plus Allocation*			EQ/Core Bond Index*			EQ/Core Plus Bond*
Income and Expenses:					`
Investment Income:
Dividends from the Portfolios	$	898,882		$	74,889		$	3,298		$	13,929		$	187,174		$	17,584

Expenses:
Asset-based charges		314,115			90,359			697			3,682			37,809			2,680

Net Investment Income (Loss)		584,767			(15,470	)		2,601			10,247			149,365			14,904

Net Realized and Unrealized Gain(Loss) on Investments:
Realized gain (loss) on investments		(414,939	)		122,477			(13,784	)		(14,242	)		(78,966	)		(12,285	)
Realized gain distribution from the Portfolios		818,116			1,080,734			1,224			15,420			-			-
Net realized gain (loss) on investments		403,177			1,203,211			(12,560	)		1,178			(78,966	)		(12,285	)

Net change in unrealized appreciation (depreciation) of investments		5,118,882			3,254,810			20,050			56,279			291,902			28,383
Net Realized and Unrealized Gain (Loss) on Investments		5,522,059			4,458,021			7,490			57,457			212,936			16,098

Net Increase (Decrease) in Net Assets Resulting from Operations	$	6,106,826		$	4,442,551		$	10,091		$	67,704		$	362,301		$	31,002

Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Operations (Continued)

For the year ended December 31, 2023

	EQ/Global Equity Managed Volatility*		EQ/Intermediate Government Bond*			EQ/Janus Enterprise*			EQ/Large Cap Growth Managed Volatility*			EQ/Large Cap Value Index*		EQ/Large Cap Value Managed Volatility*
Income and Expenses:
Investment Income:
Dividends from the Portfolios	$	6,516	$	72,485		$	2,752		$	41,457		$	114,234	$	18,633

Expenses:
Asset-based charges		2,653		11,556			29,710			44,511			25,625		4,070

Net Investment Income (Loss)		3,863		60,929			(26,958	)		(3,054	)		88,609		14,563

Net Realized and Unrealized Gain(Loss) on Investments:
Realized gain (loss) on investments		6,018		(22,162	)		57,439			(32,331	)		292,854		27,219
Realized gain distribution from the Portfolios		30,679		-			587,214			905,418			208,583		62,939
Net realized gain (loss) on investments		36,697		(22,162	)		644,653			873,087			501,437		90,158

Net change in unrealized appreciation (depreciation) of investments		103,559		52,256			689,123			2,319,608			121,723		42,849
Net Realized and Unrealized Gain (Loss) on Investments		140,256		30,094			1,333,776			3,192,695			623,160		133,007

Net Increase (Decrease) in Net Assets Resulting from Operations	$	144,119	$	91,023		$	1,306,818		$	3,189,641		$	711,769	$	147,570

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Operations (Continued)

For the year ended December 31, 2023

	EQ/Loomis Sayles Growth Portfolio*			EQ/MFS International Growth*		EQ/Mid Cap Index*		EQ/Mid Cap Value Managed Volatility*		EQ/Moderate Allocation*			EQ/Moderate-Plus Allocation*
Income and Expenses:
Investment Income:
Dividends from the Portfolios	$	-		$	134,497	$	41,606	$	145,001	$	63,607		$	38,306

Expenses:
Asset-based charges		255,053			64,252		14,465		35,141		12,583			9,658

Net Investment Income (Loss)		(255,053	)		70,245		27,141		109,860		51,024			28,648

Net Realized and Unrealized Gain(Loss) on Investments:
Realized gain (loss) on investments		1,068,044			63,392		63,780		133,727		(74,872	)		(111,288	)
Realized gain distribution from the Portfolios		3,063,397			405,754		164,227		489,299		71,673			69,572
Net realized gain (loss) on investments		4,131,441			469,146		228,007		623,026		(3,199	)		(41,716	)

Net change in unrealized appreciation (depreciation) of investments		20,125,936			875,202		343,185		495,299		273,160			356,450
Net Realized and Unrealized Gain (Loss) on Investments		24,257,377			1,344,348		571,192		1,118,325		269,961			314,734

Net Increase (Decrease) in Net Assets Resulting from Operations	$	24,002,324		$	1,414,593	$	598,333	$	1,228,185	$	320,985		$	343,382

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Operations (Continued)

For the year ended December 31, 2023

	EQ/Money Market*			EQ/Morgan Stanley Small Cap Growth*			EQ/PIMCO Ultra Short Bond*			EQ/Quality Bond PLUS*			EQ/Small Company Index*			EQ/JPMorgan Growth Stock Portfolio*
Income and Expenses:
Investment Income:
Dividends from the Portfolios	$	302,130		$	167		$	63,255		$	72,041		$	13,388		$	-

Expenses:
Asset-based charges		29,440			41,089			5,556			18,497			4,137			294,923

Net Investment Income (Loss)		272,690			(40,922	)		57,699			53,544			9,251			(294,923	)

Net Realized and Unrealized Gain(Loss) on Investments:
Realized gain (loss) on investments		113			(863,337	)		(1,027	)		(37,359	)		(3,605	)		2,619,641
Realized gain distribution from the Portfolios		-			-			-			-			38,657			6,940,951
Net realized gain (loss) on investments		113			(863,337	)		(1,027	)		(37,359	)		35,052			9,560,592

Net change in unrealized appreciation (depreciation) of investments		(113	)		4,083,227			24,907			105,286			135,405			8,048,042
Net Realized and Unrealized Gain (Loss) on Investments		-			3,219,890			23,880			67,927			170,457			17,608,634

Net Increase (Decrease) in Net Assets Resulting from Operations	$	272,690		$	3,178,968		$	81,579		$	121,471		$	179,708		$	17,313,711

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Operations (Continued)

For the year ended December 31, 2023

	EQ/Value Equity*		Fidelity^®VIP Contrafund^® Portfolio			Franklin Income VIP Fund			Franklin Rising Dividends VIP Fund			Invesco V.I. Diversified Dividend Fund			Invesco V.I. Global Core Equity Fund
Income and Expenses:
Investment Income:
Dividends from the Portfolios	$	11,340	$	98,385		$	294,871		$	16,872		$	7,399		$	2,109

Expenses:
Asset-based charges		3,394		114,828			20,129			6,372			1,302			1,323

Net Investment Income (Loss)		7,946		(16,443	)		274,742			10,500			6,097			786

Net Realized and Unrealized Gain(Loss) on Investments:
Realized gain (loss) on investments		2,556		731,592			(17,930	)		18,296			6,950			(560	)
Realized gain distribution from the Portfolios		1,740		898,461			357,478			193,639			30,473			271
Net realized gain (loss) on investments		4,296		1,630,053			339,548			211,935			37,423			(289	)

Net change in unrealized appreciation (depreciation) of investments		159,817		5,509,957			(157,865	)		(20,635	)		(12,608	)		73,399
Net Realized and Unrealized Gain (Loss) on Investments		164,113		7,140,010			181,683			191,300			24,815			73,110

Net Increase (Decrease) in Net Assets Resulting from Operations	$	172,059	$	7,123,567		$	456,425		$	201,800		$	30,912		$	73,896

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Operations (Continued)

For the year ended December 31, 2023

	Invesco V.I. Global Fund			Invesco V.I. Health Care Fund			Invesco V.I. Technology Fund			Janus Henderson Balanced Portfolio		Janus Henderson Enterprise Portfolio			Janus Henderson Forty Portfolio
Income and Expenses:
Investment Income:
Dividends from the Portfolios	$	-		$	-		$	-		$	177,703	$	25,592		$	34,232

Expenses:
Asset-based charges		10,572			2,535			1,725			34,039		65,859			84,618

Net Investment Income (Loss)		(10,572	)		(2,535	)		(1,725	)		143,664		(40,267	)		(50,386	)

Net Realized and Unrealized Gain(Loss) on Investments:
Realized gain (loss) on investments		11,255			6,522			(14,365	)		193,432		323,654			31,864
Realized gain distribution from the Portfolios		360,196			-			-			-		1,119,359			-
Net realized gain (loss) on investments		371,451			6,522			(14,365	)		193,432		1,443,013			31,864

Net change in unrealized appreciation (depreciation) of investments		517,046			13,563			202,659			841,394		1,238,447			6,267,063
Net Realized and Unrealized Gain (Loss) on Investments		888,497			20,085			188,294			1,034,826		2,681,460			6,298,927

Net Increase (Decrease) in Net Assets Resulting from Operations	$	877,925		$	17,550		$	186,569		$	1,178,490	$	2,641,193		$	6,248,541

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Operations (Concluded)

For the year ended December 31, 2023

	Janus Henderson Global Research Portfolio		Janus Henderson Overseas Portfolio		MFS^®Utilities Series			PIMCO Global Bond Opportunities Portfolio (Unhedged)
Income and Expenses:
Investment Income:
Dividends from the Portfolios	$	98,949	$	49,283	$	58,646		$	46,804

Expenses:
Asset-based charges		47,922		12,150		5,814			7,267

Net Investment Income (Loss)		51,027		37,133		52,832			39,537

Net Realized and Unrealized Gain(Loss) on Investments:
Realized gain (loss) on investments		326,007		34,752		12,845			(112,550	)
Realized gain distribution from the Portfolios		302,339		-		90,746			23,104
Net realized gain (loss) on investments		628,346		34,752		103,591			(89,446	)

Net change in unrealized appreciation (depreciation) of investments		1,812,751		266,575		(198,606	)		137,984
Net Realized and Unrealized Gain (Loss) on Investments		2,441,097		301,327		(95,015	)		48,538

Net Increase (Decrease) in Net Assets Resulting from Operations	$	2,492,124	$	338,460	$	(42,183	)	$	88,075

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets

For the year ended December 31, 2023

	1290 VT Equity Income*			1290 VT GAMCO Small Company Value*			1290 VT Socially Responsible*			BNY Mellon Stock Index Fund, Inc.			EQ/AB Small Cap Growth*			EQ/Aggressive Allocation*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	119,062		$	49,876		$	6,585		$	230,768		$	(693	)	$	13,129
Net realized gain (loss) on investments		408,751			6,545,521			140,024			1,422,515			(6,286	)		33,183
Net change in unrealized appreciation (depreciation) of investments		(186,681	)		5,812,090			340,556			3,583,626			118,958			168,295

Net increase (decrease) in net assets resulting from operations		341,132			12,407,487			487,165			5,236,909			111,979			214,607

From Contractowners Transactions:
Payments received from Contractowners		282,876			1,738,172			47,739			558,248			25,956			61,030
Transfers between Variable Investment Options including guaranteed investment account, net		6,268			(664,875	)		(14,695	)		223,980			13,139			16,249
Redemptions for contract benefits and terminations		(443,581	)		(3,222,087	)		(187,365	)		(1,057,309	)		(13,246	)		(971	)
Contract maintenance charges		(415,358	)		(2,737,042	)		(85,556	)		(875,348	)		(36,577	)		(54,647	)

Net increase (decrease) in net assets resulting from contractowners transactions		(569,795	)		(4,885,832	)		(239,877	)		(1,150,429	)		(10,728	)		21,661

Net increase (Decrease) in Net Assets		(228,663	)		7,521,655			247,288			4,086,480			101,251			236,268

Net Assets - Beginning of Year		7,776,469			63,694,934			1,924,812			21,158,435			653,134			1,179,027
Net Assets - End of Year	$	7,547,806		$	71,216,589		$	2,172,100		$	25,244,915		$	754,385		$	1,415,295

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2023

	EQ/All Asset Growth Allocation*			EQ/Capital Group Research*			EQ/Conservative Allocation*			EQ/Conservative-Plus Allocation*			EQ/Core Bond Index*			EQ/Core Plus Bond*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	584,767		$	(15,470	)	$	2,601		$	10,247		$	149,365		$	14,904
Net realized gain (loss) on investments		403,177			1,203,211			(12,560	)		1,178			(78,966	)		(12,285	)
Net change in unrealized appreciation (depreciation) of investments		5,118,882			3,254,810			20,050			56,279			291,902			28,383

Net increase (decrease) in net assets resulting from operations		6,106,826			4,442,551			10,091			67,704			362,301			31,002

From Contractowners Transactions:
Payments received from Contractowners		2,726,915			885,890			12,886			42,482			753,252			52,807
Transfers between Variable Investment Options including guaranteed investment account, net		617,925			(24,561	)		(18,038	)		(25,770	)		67,819			9,619
Redemptions for contract benefits and terminations		(2,746,854	)		(1,148,728	)		(10,562	)		(4,038	)		(543,480	)		(70,500	)
Contract maintenance charges		(3,499,808	)		(1,268,922	)		(23,386	)		(50,377	)		(759,307	)		(50,594	)

Net increase (decrease) in net assets resulting from contractowners transactions		(2,901,822	)		(1,556,321	)		(39,100	)		(37,703	)		(481,716	)		(58,668	)

Net increase (Decrease) in Net Assets		3,205,004			2,886,230			(29,009	)		30,001			(119,415	)		(27,666	)

Net Assets - Beginning of Year		47,068,599			20,694,765			170,626			676,812			9,130,343			792,938
Net Assets - End of Year	$	50,273,603		$	23,580,995		$	141,617		$	706,813		$	9,010,928		$	765,272

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2023

	EQ/Global Equity Managed Volatility*			EQ/Intermediate Government Bond*			EQ/Janus Enterprise*			EQ/Large Cap Growth Managed Volatility*			EQ/Large Cap Value Index*			EQ/Large Cap Value Managed Volatility*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	3,863		$	60,929		$	(26,958	)	$	(3,054	)	$	88,609		$	14,563
Net realized gain (loss) on investments		36,697			(22,162	)		644,653			873,087			501,437			90,158
Net change in unrealized appreciation (depreciation) of investments		103,559			52,256			689,123			2,319,608			121,723			42,849

Net increase (decrease) in net assets resulting from operations		144,119			91,023			1,306,818			3,189,641			711,769			147,570

From Contractowners Transactions:
Payments received from Contractowners		28,995			274,152			287,946			314,262			340,669			43,677
Transfers between Variable Investment Options including guaranteed investment account, net		(1,169	)		39,562			50,115			16,833			(300,811	)		(1,052	)
Redemptions for contract benefits and terminations		(73,780	)		(150,280	)		(463,499	)		(426,143	)		(699,557	)		(128,486	)
Contract maintenance charges		(43,348	)		(302,063	)		(381,976	)		(488,335	)		(411,798	)		(42,514	)

Net increase (decrease) in net assets resulting from contractowners transactions		(89,302	)		(138,629	)		(507,414	)		(583,383	)		(1,071,497	)		(128,375	)

Net increase (Decrease) in Net Assets		54,817			(47,606	)		799,404			2,606,258			(359,728	)		19,195

Net Assets - Beginning of Year		735,762			2,755,917			8,136,074			8,616,252			7,591,627			1,148,578
Net Assets - End of Year	$	790,579		$	2,708,311		$	8,935,478		$	11,222,510		$	7,231,899		$	1,167,773

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2023

	EQ/Loomis Sayles Growth Portfolio*			EQ/MFS International Growth*			EQ/Mid Cap Index*			EQ/Mid Cap Value Managed Volatility*			EQ/Moderate Allocation*			EQ/Moderate-Plus Allocation*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	(255,053	)	$	70,245		$	27,141		$	109,860		$	51,024		$	28,648
Net realized gain (loss) on investments		4,131,441			469,146			228,007			623,026			(3,199	)		(41,716	)
Net change in unrealized appreciation (depreciation) of investments		20,125,936			875,202			343,185			495,299			273,160			356,450

Net increase (decrease) in net assets resulting from operations		24,002,324			1,414,593			598,333			1,228,185			320,985			343,382

From Contractowners Transactions:
Payments received from Contractowners		1,971,880			439,858			136,145			432,672			146,474			113,543
Transfers between Variable Investment Options including guaranteed investment account, net		(701,011	)		24,158			60,677			(668	)		838,587			45,581
Redemptions for contract benefits and terminations		(2,987,621	)		(782,314	)		(233,372	)		(441,583	)		(196,796	)		(408,282	)
Contract maintenance charges		(3,222,500	)		(570,532	)		(172,705	)		(562,622	)		(168,981	)		(216,137	)

Net increase (decrease) in net assets resulting from contractowners transactions		(4,939,252	)		(888,830	)		(209,255	)		(572,201	)		619,284			(465,295	)

Net increase (Decrease) in Net Assets		19,063,072			525,763			389,078			655,984			940,269			(121,913	)

Net Assets - Beginning of Year		57,289,847			10,591,425			4,039,125			10,009,304			2,476,155			2,612,779
Net Assets - End of Year	$	76,352,919		$	11,117,188		$	4,428,203		$	10,665,288		$	3,416,424		$	2,490,866

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2023

	EQ/Money Market*			EQ/Morgan Stanley Small Cap Growth*			EQ/PIMCO Ultra Short Bond*			EQ/Quality Bond PLUS*			EQ/Small Company Index*			EQ/JPMorgan Growth Stock Portfolio*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	272,690		$	(40,922	)	$	57,699		$	53,544		$	9,251		$	(294,923	)
Net realized gain (loss) on investments		113			(863,337	)		(1,027	)		(37,359	)		35,052			9,560,592
Net change in unrealized appreciation (depreciation) of investments		(113	)		4,083,227			24,907			105,286			135,405			8,048,042

Net increase (decrease) in net assets resulting from operations		272,690			3,178,968			81,579			121,471			179,708			17,313,711

From Contractowners Transactions:
Payments received from Contractowners		772,054			441,308			135,802			257,919			43,336			1,479,569
Transfers between Variable Investment Options including guaranteed investment account, net		865,923			(288,974	)		8,577			79,941			(14,107	)		(1,103,776	)
Redemptions for contract benefits and terminations		(1,434,483	)		(421,371	)		(110,693	)		(153,093	)		(63,075	)		(4,583,865	)
Contract maintenance charges		(808,834	)		(605,001	)		(125,966	)		(296,932	)		(55,585	)		(1,994,240	)

Net increase (decrease) in net assets resulting from contractowners transactions		(605,340	)		(874,038	)		(92,280	)		(112,165	)		(89,431	)		(6,202,312	)

Net increase (Decrease) in Net Assets		(332,650	)		2,304,930			(10,701	)		9,306			90,277			11,111,399

Net Assets - Beginning of Year		7,269,071			9,702,391			1,602,350			3,384,762			1,164,499			40,193,039
Net Assets - End of Year	$	6,936,421		$	12,007,321		$	1,591,649		$	3,394,068		$	1,254,776		$	51,304,438

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2023

	EQ/Value Equity*			Fidelity^®VIP Contrafund^® Portfolio			Franklin Income VIP Fund			Franklin Rising Dividends VIP Fund			Invesco V.I. Diversified Dividend Fund			Invesco V.I. Global Core Equity Fund
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	7,946		$	(16,443	)	$	274,742		$	10,500		$	6,097		$	786
Net realized gain (loss) on investments		4,296			1,630,053			339,548			211,935			37,423			(289	)
Net change in unrealized appreciation (depreciation) of investments		159,817			5,509,957			(157,865	)		(20,635	)		(12,608	)		73,399

Net increase (decrease) in net assets resulting from operations		172,059			7,123,567			456,425			201,800			30,912			73,896

From Contractowners Transactions:
Payments received from Contractowners		45,145			758,454			310,073			43,617			14,291			14,880
Transfers between Variable Investment Options including guaranteed investment account, net		(5,672	)		(477,276	)		7,951			(73,021	)		(13,796	)		7,841
Redemptions for contract benefits and terminations		(49,990	)		(1,468,055	)		(541,844	)		(57,374	)		(27,433	)		(53,424	)
Contract maintenance charges		(48,410	)		(1,152,077	)		(339,591	)		(69,458	)		(15,554	)		(18,749	)

Net increase (decrease) in net assets resulting from contractowners transactions		(58,927	)		(2,338,954	)		(563,411	)		(156,236	)		(42,492	)		(49,452	)

Net increase (Decrease) in Net Assets		113,132			4,784,613			(106,986	)		45,564			(11,580	)		24,444

Net Assets - Beginning of Year		950,316			22,747,057			5,903,448			1,791,319			399,193			369,231
Net Assets - End of Year	$	1,063,448		$	27,531,670		$	5,796,462		$	1,836,883		$	387,613		$	393,675

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2023

	Invesco V.I. Global Fund			Invesco V.I. Health Care Fund			Invesco V.I. Technology Fund			Janus Henderson Balanced Portfolio			Janus Henderson Enterprise Portfolio			Janus Henderson Forty Portfolio
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	(10,572	)	$	(2,535	)	$	(1,725	)	$	143,664		$	(40,267	)	$	(50,386	)
Net realized gain (loss) on investments		371,451			6,522			(14,365	)		193,432			1,443,013			31,864
Net change in unrealized appreciation (depreciation) of investments		517,046			13,563			202,659			841,394			1,238,447			6,267,063

Net increase (decrease) in net assets resulting from operations		877,925			17,550			186,569			1,178,490			2,641,193			6,248,541

From Contractowners Transactions:
Payments received from Contractowners		107,442			33,793			13,071			338,201			413,050			454,267
Transfers between Variable Investment Options including guaranteed investment account, net		(67,669	)		(38,065	)		(5,414	)		(102,349	)		(244,501	)		(82,948	)
Redemptions for contract benefits and terminations		(131,766	)		(82,532	)		(14,696	)		(368,426	)		(873,626	)		(721,957	)
Contract maintenance charges		(122,843	)		(50,762	)		(17,751	)		(460,091	)		(708,765	)		(734,934	)

Net increase (decrease) in net assets resulting from contractowners transactions		(214,836	)		(137,566	)		(24,790	)		(592,665	)		(1,413,842	)		(1,085,572	)

Net increase (Decrease) in Net Assets		663,089			(120,016	)		161,779			585,825			1,227,351			5,162,969

Net Assets - Beginning of Year		2,647,436			812,310			411,639			8,190,702			15,670,414			16,466,088
Net Assets - End of Year	$	3,310,525		$	692,294		$	573,418		$	8,776,527		$	16,897,765		$	21,629,057

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Concluded)

For the year ended December 31, 2023

	Janus Henderson Global Research Portfolio			Janus Henderson Overseas Portfolio			MFS^®Utilities Series			PIMCO Global Bond Opportunities Portfolio (Unhedged)
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	51,027		$	37,133		$	52,832		$	39,537
Net realized gain (loss) on investments		628,346			34,752			103,591			(89,446	)
Net change in unrealized appreciation (depreciation) of investments		1,812,751			266,575			(198,606	)		137,984

Net increase (decrease) in net assets resulting from operations		2,492,124			338,460			(42,183	)		88,075

From Contractowners Transactions:
Payments received from Contractowners		461,793			166,800			61,775			147,845
Transfers between Variable Investment Options including guaranteed investment account, net		(124,190	)		(48,849	)		4,401			(15,570	)
Redemptions for contract benefits and terminations		(707,179	)		(210,911	)		(48,991	)		(246,050	)
Contract maintenance charges		(583,474	)		(171,499	)		(61,726	)		(125,964	)

Net increase (decrease) in net assets resulting from contractowners transactions		(953,050	)		(264,459	)		(44,541	)		(239,739	)

Net increase (Decrease) in Net Assets		1,539,074			74,001			(86,724	)		(151,664	)

Net Assets - Beginning of Year		9,949,208			3,408,318			1,750,404			2,117,905
Net Assets - End of Year	$	11,488,282		$	3,482,319		$	1,663,680		$	1,966,241

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets

For the year ended December 31, 2022

	1290 VT Equity Income*			1290 VT GAMCO Small Company Value*			1290 VT Socially Responsible*			BNY Mellon Stock Index Fund, Inc.			EQ/AB Small Cap Growth*			EQ/Aggressive Allocation*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	103,590		$	(14,508	)	$	4,890		$	209,781		$	(1,582	)	$	6,024
Net realized gain (loss) on investments		421,554			4,844,237			97,446			2,424,802			21,676			158,864
Net change in unrealized appreciation (depreciation) of investments		(337,709	)		(13,368,829	)		(688,970	)		(7,644,521	)		(288,512	)		(440,134	)

Net increase (decrease) in net assets resulting from operations		187,435			(8,539,100	)		(586,634	)		(5,009,938	)		(268,418	)		(275,246	)

From Contractowners Transactions:
Payments received from Contractowners		293,117			1,832,674			57,268			671,090			27,238			69,187
Transfers between Variable Investment Options including guaranteed investment account, net		(25,591	)		(392,109	)		(5,671	)		87,287			(1,158	)		(29,547	)
Redemptions for contract benefits and terminations		(377,234	)		(2,921,684	)		(144,489	)		(895,979	)		(6,369	)		(1,451	)
Contract maintenance charges		(441,499	)		(2,778,426	)		(89,400	)		(875,470	)		(38,043	)		(55,730	)

Net increase (decrease) in net assets resulting from contractowners transactions		(551,207	)		(4,259,545	)		(182,292	)		(1,013,072	)		(18,332	)		(17,541	)

Net increase (Decrease) in Net Assets		(363,772	)		(12,798,645	)		(768,926	)		(6,023,010	)		(286,750	)		(292,787	)

Net Assets - Beginning of Year		8,140,241			76,493,579			2,693,738			27,181,445			939,884			1,471,814
Net Assets - End of Year	$	7,776,469		$	63,694,934		$	1,924,812		$	21,158,435		$	653,134		$	1,179,027

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2022

	EQ/All Asset Growth Allocation*			EQ/Capital Group Research*			EQ/Conservative Allocation*			EQ/Conservative-Plus Allocation*			EQ/Core Bond Index*			EQ/Core Plus Bond*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	317,460		$	(56,422	)	$	1,739		$	5,263		$	113,882		$	17,184
Net realized gain (loss) on investments		3,351,514			2,898,114			1,014			37,717			(17,400	)		(4,003	)
Net change in unrealized appreciation (depreciation) of investments		(12,373,182	)		(8,065,419	)		(30,854	)		(170,415	)		(1,034,735	)		(137,302	)

Net increase (decrease) in net assets resulting from operations		(8,704,208	)		(5,223,727	)		(28,101	)		(127,435	)		(938,253	)		(124,121	)

From Contractowners Transactions:
Payments received from Contractowners		2,873,957			903,409			21,846			33,039			774,094			57,046
Transfers between Variable Investment Options including guaranteed investment account, net		(268,379	)		42,701			7			(8,147	)		(51,411	)		4,424
Redemptions for contract benefits and terminations		(1,613,637	)		(1,233,710	)		(15,828	)		(23,350	)		(248,078	)		(34,362	)
Contract maintenance charges		(3,548,066	)		(1,292,382	)		(24,326	)		(54,367	)		(758,768	)		(54,175	)

Net increase (decrease) in net assets resulting from contractowners transactions		(2,556,125	)		(1,579,982	)		(18,301	)		(52,825	)		(284,163	)		(27,067	)

Net increase (Decrease) in Net Assets		(11,260,333	)		(6,803,709	)		(46,402	)		(180,260	)		(1,222,416	)		(151,188	)

Net Assets - Beginning of Year		58,328,932			27,498,474			217,028			857,072			10,352,759			944,126
Net Assets - End of Year	$	47,068,599		$	20,694,765		$	170,626		$	676,812		$	9,130,343		$	792,938

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2022

	EQ/Global Equity Managed Volatility*			EQ/Intermediate Government Bond*			EQ/Janus Enterprise*			EQ/Large Cap Growth Managed Volatility*			EQ/Large Cap Value Index*			EQ/Large Cap Value Managed Volatility*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	(39	)	$	14,406		$	(30,343	)	$	(38,670	)	$	85,856		$	11,206
Net realized gain (loss) on investments		25,948			(12,697	)		633,235			1,207,983			320,342			54,856
Net change in unrealized appreciation (depreciation) of investments		(231,114	)		(249,218	)		(2,337,633	)		(5,199,902	)		(1,134,120	)		(223,821	)

Net increase (decrease) in net assets resulting from operations		(205,205	)		(247,509	)		(1,734,741	)		(4,030,589	)		(727,922	)		(157,759	)

From Contractowners Transactions:
Payments received from Contractowners		30,359			337,514			300,106			321,924			365,438			49,443
Transfers between Variable Investment Options including guaranteed investment account, net		8,140			46,053			11,303			(77,064	)		7,674			(10,941	)
Redemptions for contract benefits and terminations		(37,605	)		(158,904	)		(411,584	)		(396,863	)		(288,851	)		(14,567	)
Contract maintenance charges		(45,371	)		(318,943	)		(382,251	)		(486,725	)		(439,580	)		(44,711	)

Net increase (decrease) in net assets resulting from contractowners transactions		(44,477	)		(94,280	)		(482,426	)		(638,728	)		(355,319	)		(20,776	)

Net increase (Decrease) in Net Assets		(249,682	)		(341,789	)		(2,217,167	)		(4,669,317	)		(1,083,241	)		(178,535	)

Net Assets - Beginning of Year		985,444			3,097,706			10,353,241			13,285,569			8,674,868			1,327,113
Net Assets - End of Year	$	735,762		$	2,755,917		$	8,136,074		$	8,616,252		$	7,591,627		$	1,148,578

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2022

	EQ/Loomis Sayles Growth Portfolio*			EQ/MFS International Growth*			EQ/Mid Cap Index*			EQ/Mid Cap Value Managed Volatility*			EQ/Moderate Allocation*			EQ/Moderate-Plus Allocation*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	(240,636	)	$	28,257		$	25,402		$	61,479		$	20,928		$	18,763
Net realized gain (loss) on investments		7,938,094			438,251			330,246			458,278			158,209			239,151
Net change in unrealized appreciation (depreciation) of investments		(31,184,263	)		(2,606,567	)		(1,029,406	)		(2,327,869	)		(668,818	)		(849,156	)

Net increase (decrease) in net assets resulting from operations		(23,486,805	)		(2,140,059	)		(673,758	)		(1,808,112	)		(489,681	)		(591,242	)

From Contractowners Transactions:
Payments received from Contractowners		2,194,945			472,264			147,757			460,463			143,369			136,779
Transfers between Variable Investment Options including guaranteed investment account, net		39,719			(19,101	)		(10,674	)		76,678			(60,516	)		(87,464	)
Redemptions for contract benefits and terminations		(2,651,465	)		(670,224	)		(134,710	)		(534,050	)		(71,973	)		(69,909	)
Contract maintenance charges		(3,148,603	)		(577,365	)		(181,238	)		(590,940	)		(164,943	)		(225,623	)

Net increase (decrease) in net assets resulting from contractowners transactions		(3,565,404	)		(794,426	)		(178,865	)		(587,849	)		(154,063	)		(246,217	)

Net increase (Decrease) in Net Assets		(27,052,209	)		(2,934,485	)		(852,623	)		(2,395,961	)		(643,744	)		(837,459	)

Net Assets - Beginning of Year		84,342,056			13,525,910			4,891,748			12,405,265			3,119,899			3,450,238
Net Assets - End of Year	$	57,289,847		$	10,591,425		$	4,039,125		$	10,009,304		$	2,476,155		$	2,612,779

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2022

	EQ/Money Market*			EQ/Morgan Stanley Small Cap Growth*			EQ/PIMCO Ultra Short Bond*			EQ/Quality Bond PLUS*			EQ/Small Company Index*			EQ/JPMorgan Growth Stock Portfolio*
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	46,606		$	(44,880	)	$	16,494		$	3,676		$	6,988		$	(306,618	)
Net realized gain (loss) on investments		(108	)		(601,143	)		(1,708	)		(5,237	)		43,629			2,606,022
Net change in unrealized appreciation (depreciation) of investments		114			(7,390,021	)		(30,616	)		(417,450	)		(349,779	)		(28,985,294	)

Net increase (decrease) in net assets resulting from operations		46,612			(8,036,044	)		(15,830	)		(419,011	)		(299,162	)		(26,685,890	)

From Contractowners Transactions:
Payments received from Contractowners		804,087			485,268			142,401			264,383			41,554			1,522,361
Transfers between Variable Investment Options including guaranteed investment account, net		(862,129	)		213,485			30,582			24,817			(373	)		25,740
Redemptions for contract benefits and terminations		(339,809	)		(773,597	)		(75,629	)		(153,515	)		(18,214	)		(2,008,798	)
Contract maintenance charges		(760,415	)		(636,120	)		(125,577	)		(297,452	)		(57,842	)		(2,031,252	)

Net increase (decrease) in net assets resulting from contractowners transactions		(1,158,266	)		(710,964	)		(28,223	)		(161,767	)		(34,875	)		(2,491,949	)

Net increase (Decrease) in Net Assets		(1,111,654	)		(8,747,008	)		(44,053	)		(580,778	)		(334,037	)		(29,177,839	)

Net Assets - Beginning of Year		8,380,725			18,449,399			1,646,403			3,965,540			1,498,536			69,370,878
Net Assets - End of Year	$	7,269,071		$	9,702,391		$	1,602,350		$	3,384,762		$	1,164,499		$	40,193,039

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2022

	EQ/Value Equity*			Fidelity^®VIP Contrafund^® Portfolio			Franklin Income VIP Fund			Franklin Rising Dividends VIP Fund			Invesco V.I. Diversified Dividend Fund			Invesco V.I. Global Core Equity Fund
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	7,085		$	(15,308	)	$	273,222		$	8,073		$	6,343		$	(21	)
Net realized gain (loss) on investments		23,718			1,714,127			140,173			251,016			58,651			26,540
Net change in unrealized appreciation (depreciation) of investments		(207,251	)		(10,381,227	)		(784,537	)		(487,195	)		(73,642	)		(137,527	)

Net increase (decrease) in net assets resulting from operations		(176,448	)		(8,682,408	)		(371,142	)		(228,106	)		(8,648	)		(111,008	)

From Contractowners Transactions:
Payments received from Contractowners		48,536			835,067			330,018			46,744			15,827			16,371
Transfers between Variable Investment Options including guaranteed investment account, net		(12,452	)		(5,781	)		19,404			86			72			(227	)
Redemptions for contract benefits and terminations		(12,694	)		(1,101,269	)		(208,188	)		(47,403	)		(22,890	)		(23,736	)
Contract maintenance charges		(46,504	)		(1,188,937	)		(351,643	)		(69,973	)		(16,941	)		(18,982	)

Net increase (decrease) in net assets resulting from contractowners transactions		(23,114	)		(1,460,920	)		(210,409	)		(70,546	)		(23,932	)		(26,574	)

Net increase (Decrease) in Net Assets		(199,562	)		(10,143,328	)		(581,551	)		(298,652	)		(32,580	)		(137,582	)

Net Assets - Beginning of Year		1,149,878			32,890,385			6,484,999			2,089,971			431,773			506,813
Net Assets - End of Year	$	950,316		$	22,747,057		$	5,903,448		$	1,791,319		$	399,193		$	369,231

* Denotes Variable Investment Options that invest in shares of a Portfolio of EQ Advisor Trust, an affiliate of Equitable Financial.

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Continued)

For the year ended December 31, 2022

	Invesco V.I. Global Fund			Invesco V.I. Health Care Fund			Invesco V.I. Technology Fund			Janus Henderson Balanced Portfolio			Janus Henderson Enterprise Portfolio			Janus Henderson Forty Portfolio
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	(10,326	)	$	(2,921	)	$	(1,804	)	$	87,478		$	(5,808	)	$	(54,898	)
Net realized gain (loss) on investments		534,600			130,054			191,950			463,764			3,072,739			3,048,213
Net change in unrealized appreciation (depreciation) of investments		(1,802,086	)		(268,506	)		(475,132	)		(2,285,948	)		(6,288,129	)		(11,753,991	)

Net increase (decrease) in net assets resulting from operations		(1,277,812	)		(141,373	)		(284,986	)		(1,734,706	)		(3,221,198	)		(8,760,676	)

From Contractowners Transactions:
Payments received from Contractowners		114,951			39,134			16,428			357,068			441,354			498,739
Transfers between Variable Investment Options including guaranteed investment account, net		3,806			(17,325	)		1,800			(34,200	)		90,537			(58,484	)
Redemptions for contract benefits and terminations		(59,266	)		(52,784	)		(15,126	)		(406,225	)		(949,326	)		(656,896	)
Contract maintenance charges		(121,810	)		(57,447	)		(18,067	)		(463,204	)		(719,493	)		(763,069	)

Net increase (decrease) in net assets resulting from contractowners transactions		(62,319	)		(88,422	)		(14,965	)		(546,561	)		(1,136,928	)		(979,710	)

Net increase (Decrease) in Net Assets		(1,340,131	)		(229,795	)		(299,951	)		(2,281,267	)		(4,358,126	)		(9,740,386	)

Net Assets - Beginning of Year		3,987,567			1,042,105			711,590			10,471,969			20,028,540			26,206,474
Net Assets - End of Year	$	2,647,436		$	812,310		$	411,639		$	8,190,702		$	15,670,414		$	16,466,088

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

Equitable America Variable Account L

Statement of Changes in Net Assets (Concluded)

For the year ended December 31, 2022

	Janus Henderson Global Research Portfolio			Janus Henderson Overseas Portfolio			MFS^®Utilities Series			PIMCO Global Bond Opportunities Portfolio (Unhedged)
Increase (Decrease) in Net Assets
From Operations:
Net investment income (loss)	$	125,213		$	45,494		$	36,183		$	24,967
Net realized gain (loss) on investments		1,407,351			12,816			86,367			(21,511	)
Net change in unrealized appreciation (depreciation) of investments		(4,065,276	)		(407,649	)		(115,908	)		(280,098	)

Net increase (decrease) in net assets resulting from operations		(2,532,712	)		(349,339	)		6,642			(276,642	)

From Contractowners Transactions:
Payments received from Contractowners		478,489			188,135			63,853			141,523
Transfers between Variable Investment Options including guaranteed investment account, net		53,441			(2,489	)		(14,292	)		36,864
Redemptions for contract benefits and terminations		(504,680	)		(121,388	)		(41,480	)		(132,625	)
Contract maintenance charges		(593,536	)		(174,815	)		(65,496	)		(135,313	)

Net increase (decrease) in net assets resulting from contractowners transactions		(566,286	)		(110,557	)		(57,415	)		(89,551	)

Net increase (Decrease) in Net Assets		(3,098,998	)		(459,896	)		(50,773	)		(366,193	)

Net Assets - Beginning of Year		13,048,206			3,868,214			1,801,177			2,484,098
Net Assets - End of Year	$	9,949,208		$	3,408,318		$	1,750,404		$	2,117,905

Note: Totals may not appear to foot/crossfoot due to rounding.

The accompanying notes are an integral part of these financial statements.

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

1. Organization

Equitable America Variable Account L (the “Account”) was established by Equitable Financial Life Insurance Company of America (“Equitable Financial”) on February 19, 1985. On October 1, 2013, Equitable Financial entered into a reinsurance agreement with Protective Life Insurance Company (“Protective Life”) to reinsure an in-force book of life insurance and annuity policies written primarily prior to 2004.

The Account is registered with the United States Securities and Exchange Commission (“SEC”), and operates as a unit investment trust under the Investment Company Act of 1940 (the "1940 Act"). The Account follows the investment company and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946 - Investment Companies, which is part of accounting principles generally accepted in the United States of America ("GAAP").

The Account has Variable Investment Options, each of which invest in shares of a mutual fund portfolio of AIM Variable Insurance Funds (Invesco Variable Insurance Funds), BNY Mellon Stock Index Fund, Inc., EQ Advisors Trust ("EQAT"), Fidelity^® Variable Insurance Products Fund, Franklin Templeton Variable Insurance Products Trust, Janus Aspen Series, MFS^® Variable Insurance Trust, PIMCO Variable Insurance Trust, (collectively, "the Trusts"). The Trusts are registered with the SEC under the 1940 Act as open-ended, investment management companies that sell shares of a portfolio ("Portfolio") of a mutual fund to separate accounts of insurance companies. Each Portfolio of the Trusts has separate investment objectives. These financial statements and notes are those of the Variable Investment Options of the Account.

The Account consists of the following Variable Investment Options (“Portfolios”):

AIM Variable Insurance Funds (Invesco Variable Insurance Funds)	EQ Advisors Trust*
Invesco V.I. Diversified Dividend Fund	1290 VT Equity Income
Invesco V.I. Global Core Equity Fund	1290 VT GAMCO Small Company Value
Invesco V.I. Global Fund	1290 VT Socially Responsible
Invesco V.I. Health Care Fund	EQ/AB Small Cap Growth
Invesco V.I. Technology Fund	EQ/Aggressive Allocation
	EQ/All Asset Growth Allocation
BNY Mellon Investment Adviser, Inc.	EQ/Capital Group Research
BNY Mellon Stock Index Fund, Inc.	EQ/Conservative Allocation

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

Variable Investment Options, continued:

*EQ Advisors Trust (continued)**	Fidelity^®Variable Insurance Products Fund
EQ/Conservative-Plus Allocation	Fidelity^®VIP Contrafund^® Portfolio
EQ/Core Bond Index
EQ/Core Plus Bond	Franklin Templeton Variable Insurance Products Trust
EQ/Global Equity Managed Volatility	Franklin Income VIP Fund
EQ/Intermediate Government Bond	Franklin Rising Dividends VIP Fund
EQ/Janus Enterprise
EQ/Large Cap Growth Managed Volatility	Janus Aspen Series
EQ/Large Cap Value Index	Janus Henderson Balanced Portfolio
EQ/Large Cap Value Managed Volatility	Janus Henderson Enterprise Portfolio
EQ/Loomis Sayles Growth Portfolio	Janus Henderson Forty Portfolio
EQ/MFS International Growth	Janus Henderson Global Research Portfolio
EQ/Mid Cap Index	Janus Henderson Overseas Portfolio
EQ/Mid Cap Value Managed Volatility
EQ/Moderate Allocation	MFS^®Variable Insurance Trust
EQ/Moderate-Plus Allocation	MFS^®Utilities Series
EQ/Money Market
EQ/Morgan Stanley Small Cap Growth	PIMCO Variable Insurance Trust
EQ/PIMCO Ultra Short Bond	PIMCO Global Bond Opportunities Portfolio (Unhedged)
EQ/Quality Bond PLUS
EQ/Small Company Index
EQ/JPMorgan Growth Stock Portfolio**
EQ/Value Equity

* An affiliate of Equitable Financial that provides advisory and other services to one or more Portfolios of this Trust, as further described in Note 5 of these financial statements.

** The following Subaccount changed their name:

Previous Name		New Name		Date of Change
EQ/T.Rowe Price Growth Stock		EQ/JPMorgan Growth Stock Portfolio		July 31, 2023

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

The Account holds assets that are segregated from all of Equitable Financial's other assets and, at present, is used to support Flexible Premium Variable Life Policies, which include MONY Variable Life (Strategist), Variable Universal Life (MONY Equity Master, MONY Custom Master, MONY Custom Estate Master, and MONY Variable Universal Life), and Survivorship Variable Universal Life (collectively, the "Variable Life Policies"). These policies are issued by Equitable Financial, which is a wholly-owned subsidiary of Equitable Holdings, LLC.

Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished or segregated from those of Equitable Financial's other assets and liabilities. The assets of the Account are the property of Equitable Financial. However, the portion of the Account's assets attributable to the Variable Life Policies will not be chargeable with liabilities arising out of any other business Equitable Financial may conduct.

The amount retained by Equitable Financial in the Account arises primarily from (1) contributions from Equitable Financial, (2) mortality and expense risk charges, administrative charges accumulated in the Account, and (3) that portion, determined ratably, of the Account's investment results applicable to those assets in the Account in excess of the net assets, attributable to accumulation of units. Amounts retained by Equitable Financial are not subject to charges for mortality and expense charges and administrative charges. Amounts retained by Equitable Financial in the Account may be transferred at any time by Equitable Financial to its General Account ("General Account").

Each of the Variable Investment Options of the Account bears indirect exposure to the market, credit, and liquidity risks of the Portfolio in which it invests. These financial statements should be read in conjunction with the financial statements and notes of the Portfolios of the Trusts, which are distributed by Equitable Financial to the Contractowners of the Variable Investment Options of the Account.

In the normal course of business, Equitable Financial may have agreements to indemnify another party under given circumstances. The maximum exposure under these arrangements is unknown as this would involve estimates of future claims that may be, but have not been, made against the Variable Investment Options of the Account. Based on experience, management expects the risk of material loss to be remote.

2. Significant Accounting Policies

The accompanying financial statements are prepared in conformity with GAAP. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

Investments:

Investments are made in shares of the Portfolios, and the fair values of investments are the reported net asset values per share of the respective Portfolios. The net asset values are determined by the Trusts using the fair value of the underlying assets of each Portfolio less liabilities.

Investment Transactions and Investment Income:

Investment transactions are recorded on the trade date. Dividend income and distributions of net realized gains from the Portfolios are recorded and automatically reinvested at the ex-dividend date. Realized gains and losses include (1) gains and losses on the redemptions of investments in the Portfolios (determined on the identified cost basis) and (2) distributions representing the net realized gains on investments transactions of the Portfolios.

Due to and Due from:

Receivable/payable for policy-related transactions represents amount due to/from Equitable Financial's General Account primarily related to premiums, surrenders, death benefits and amounts transferred among the various Portfolios by Contractowners. Receivable/payable for shares of the Portfolios sold/purchased represent unsettled trades.

Contract Payments and Transfers:

Payments received from Contractowners represent Contractowner contributions under the Variable Life Policies (but exclude amounts allocated to the guaranteed interest account with market value adjustment, reflected in the General Account) reduced by deductions and charges, including premium charges, as applicable and state premium taxes.

Transfers between Variable Investment Options including the guaranteed interest account with market value adjustment, net, are amounts that Contractowners have directed to be moved among Portfolios, including permitted transfers to and from the guaranteed interest account. The net assets of any Variable Investment Option may not be less than the aggregate value of the Contractowner accounts allocated to that Variable Investment Option. Equitable Financial is required by state insurance law to set aside additional assets in Equitable Financial's General Account to provide for other policy benefits. Equitable Financial's General Account assets support Equitable Financial’s insurance and annuity obligations and are subject to Equitable Financial’s General Account liabilities for business operations and to creditor rights.

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

Redemptions for contract benefits and terminations are payments to Contractowners and beneficiaries made under the terms of the Variable Life Policies, and amounts that Contractowners have requested to be withdrawn and paid to them or applied to purchase annuities. Withdrawal charges, if any, are included in Redemptions for contract benefits and terminations to the extent that such charges apply to the contracts. Administrative charges, if any, are included in Contract maintenance charges to the extent that such charges apply to the Variable Life Policies.

Federal Income Taxes:

The results of the operations of the Account are included in the federal income tax return of Equitable Financial. Under the provisions of the contracts, Equitable Financial has the right to charge the Account for federal income tax attributable to the Account. No charge has been made against the Account for such tax during the year ended December 31, 2023. Management will periodically review the application of this policy in the event of changes in tax law. Accordingly, a change may be made in future years to consider charges for any federal income taxes that would be attributable to the contracts.

3. Fair Value Disclosures

The Account determined the fair value of its financial instruments based on the fair value hierarchy established in FASB guidance referenced in the Fair Value Measurements and Disclosures Topic which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The Account has categorized its financial instruments, based on the priority of the inputs to the valuation technique, into a three level hierarchy as outlined within the applicable guidance. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. As there are no level 2 or level 3 assets in any period presented, disclosure of transfers between levels or disclosure of a reconciliation of level 3 assets is not required. In addition, there are no other financial assets or assets valued on a non-recurring basis.

Financial assets recorded at fair value in the Statement of Assets and Liabilities are categorized as follows:

Level 1: Quoted prices that are publicly available for identical assets in active markets. Level 1 fair values generally are supported by market transactions that occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2: Quoted prices in markets that are not active or significant inputs that are observable either directly or indirectly. Level 2 inputs include the following:

Quoted prices for similar assets in active markets

Quoted prices for identical or similar assets in non-active markets

Inputs other than quoted market prices that are observable

Inputs that are derived principally from or corroborated by observable market data through correlation or other means.

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

Level 3: Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management’s own assumptions about the assumptions a market participant would use in pricing the asset.

Determination of fair values:

The valuation methodologies used to determine the fair values of assets and liabilities under the FASB guidance referenced in the Fair Value Measurements and Disclosures Topic reflect market participant assumptions and are based on the application of the fair value hierarchy that prioritizes observable market inputs over unobservable inputs. The Account determines the fair values of certain financial assets based on quoted market prices.

All of the investments in each Variable Investment Option of the Account are classified as Level 1 in the fair value hierarchy as of December 31, 2023 and consist of open-ended mutual funds. Participants may, without restriction, transact at the daily net asset value (“NAV”) of the mutual funds. The NAV represents the daily per share value based on the fair value of the underlying portfolio of investments of the respective mutual funds.

4. Purchases and Sales of Portfolios

The cost of purchases and proceeds from sales of Portfolios for the year ended December 31, 2023 were as follows:

	Purchases		Sales
1290 VT Equity Income	$	820,181	$	820,358
1290 VT GAMCO Small Company Value		5,743,382		5,903,380
1290 VT Socially Responsible		87,900		276,953
BNY Mellon Stock Index Fund, Inc.		1,837,407		1,914,204
EQ/AB Small Cap Growth		27,158		37,503
EQ/Aggressive Allocation		114,260		40,274
EQ/All Asset Growth Allocation		2,363,409		3,862,348
EQ/Capital Group Research		1,577,384		2,068,441
EQ/Conservative Allocation		82,395		117,671
EQ/Conservative-Plus Allocation		58,838		70,874
EQ/Core Bond Index		529,989		862,339
EQ/Core Plus Bond		44,736		88,501
EQ/Global Equity Managed Volatility		42,356		97,116
EQ/Intermediate Government Bond		242,821		320,521
EQ/Janus Enterprise		708,589		655,748
EQ/Large Cap Growth Managed Volatility		1,119,247		800,268
EQ/Large Cap Value Index		461,346		1,235,651
EQ/Large Cap Value Managed Volatility		106,743		157,616

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

	Purchases		Sales
EQ/Loomis Sayles Growth Portfolio	$	3,720,210	$	5,851,118
EQ/MFS International Growth		769,784		1,182,615
EQ/Mid Cap Index		258,632		276,520
EQ/Mid Cap Value Managed Volatility		763,776		736,818
EQ/Moderate Allocation		1,207,322		465,341
EQ/Moderate-Plus Allocation		223,059		590,135
EQ/Money Market		5,677,886		6,010,537
EQ/Morgan Stanley Small Cap Growth		180,243		1,095,202
EQ/PIMCO Ultra Short Bond		126,798		161,379
EQ/Quality Bond PLUS		225,574		284,194
EQ/Small Company Index		72,156		113,679
EQ/JPMorgan Growth Stock Portfolio		7,299,611		6,855,895
EQ/Value Equity		34,353		83,594
Fidelity^®VIP Contrafund^® Portfolio		1,196,957		2,653,894
Franklin Income VIP Fund		759,681		690,873
Franklin Rising Dividends VIP Fund		238,089		190,186
Invesco V.I. Diversified Dividend Fund		44,100		50,021
Invesco V.I. Global Core Equity Fund		24,040		72,435
Invesco V.I. Global Fund		394,994		260,207
Invesco V.I. Health Care Fund		12,331		152,432
Invesco V.I. Technology Fund		37,322		63,836
Janus Henderson Balanced Portfolio		309,788		758,789
Janus Henderson Enterprise Portfolio		1,288,591		1,623,341
Janus Henderson Forty Portfolio		498,753		1,634,712
Janus Henderson Global Research Portfolio		579,937		1,179,622
Janus Henderson Overseas Portfolio		143,166		370,492
MFS^®Utilities Series		178,895		79,858
PIMCO Global Bond Opportunities Portfolio (Unhedged)		176,716		353,814

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

The units issued and redeemed for the year ended December 31, 2023 were as follows:

	Share Class+	Issued		Redeemed		Net Change
1290 VT Equity Income	A		188		3,178		(2,990	)
1290 VT Equity Income	B		5,927		19,227		(13,300	)
1290 VT GAMCO Small Company Value	B		5,125		46,112		(40,987	)
1290 VT Socially Responsible	A		762		6,041		(5,279	)
1290 VT Socially Responsible	B		211		2,674		(2,463	)
BNY Mellon Stock Index Fund, Inc.	Initial		16,423		43,830		(27,407	)
EQ/AB Small Cap Growth	A		614		882		(268	)
EQ/Aggressive Allocation	B		2,918		1,770		1,148
EQ/All Asset Growth Allocation	B		19,509		103,080		(83,571	)
EQ/Capital Group Research	A		10,605		47,918		(37,313	)
EQ/Conservative Allocation	B		6,075		9,110		(3,035	)
EQ/Conservative-Plus Allocation	B		1,993		4,485		(2,492	)
EQ/Core Bond Index	A		24,400		58,322		(33,922	)
EQ/Core Plus Bond	A		1,695		5,295		(3,600	)
EQ/Global Equity Managed Volatility	A		90		1,620		(1,530	)
EQ/Intermediate Government Bond	A		11,001		19,941		(8,940	)
EQ/Janus Enterprise	A		2,808		16,594		(13,786	)
EQ/Large Cap Growth Managed Volatility	B		4,204		18,536		(14,332	)
EQ/Large Cap Value Index	A		3,719		32,119		(28,400	)
EQ/Large Cap Value Managed Volatility	A		915		5,479		(4,564	)
EQ/Loomis Sayles Growth Portfolio	B		14,447		112,743		(98,296	)
EQ/MFS International Growth	B		7,572		33,091		(25,519	)
EQ/Mid Cap Index	A		1,146		5,677		(4,531	)
EQ/Mid Cap Value Managed Volatility	A		3,764		20,273		(16,509	)
EQ/Moderate Allocation	B		66,862		29,195		37,667
EQ/Moderate-Plus Allocation	B		6,300		32,483		(26,183	)
EQ/Money Market	A		480,329		532,289		(51,960	)
EQ/Morgan Stanley Small Cap Growth	B		12,715		75,705		(62,990	)
EQ/PIMCO Ultra Short Bond	B		4,445		10,845		(6,400	)
EQ/Quality Bond PLUS	B		7,669		13,137		(5,468	)
EQ/Small Company Index	A		426		2,357		(1,931	)
EQ/JPMorgan Growth Stock Portfolio	B		5,965		121,931		(115,966	)
EQ/Value Equity	B		607		2,335		(1,728	)
Fidelity^®VIP Contrafund^® Portfolio	Service		3,614		44,304		(40,690	)
Franklin Income VIP Fund	Class 2		3,398		20,673		(17,275	)
Franklin Rising Dividends VIP Fund	Class 2		510		3,321		(2,811	)
Invesco V.I. Diversified Dividend Fund	Series 1		334		2,625		(2,291	)
Invesco V.I. Global Core Equity Fund	Series 1		905		2,986		(2,081	)
Invesco V.I. Global Fund	Service		668		4,644		(3,976	)
Invesco V.I. Health Care Fund	Series 1		294		3,550		(3,256	)
Invesco V.I. Technology Fund	Series 1		964		1,622		(658	)
Janus Henderson Balanced Portfolio	Institutional		3,024		16,825		(13,801	)
Janus Henderson Enterprise Portfolio	Institutional		3,121		33,490		(30,369	)
Janus Henderson Forty Portfolio	Institutional		7,001		20,143		(13,142	)
Janus Henderson Forty Portfolio	Service		1,122		5,452		(4,330	)
Janus Henderson Global Research Portfolio	Institutional		8,435		51,237		(42,802	)
Janus Henderson Overseas Portfolio	Service		2,533		9,661		(7,128	)
MFS^®Utilities Series	Initial		423		1,031		(608	)
PIMCO Global Bond Opportunities Portfolio (Unhedged)	Administrative		4,974		16,491		(11,517	)

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

5. Expenses and Related Party Transactions

Investment Manager and Advisors:

The assets in each Variable Investment Option are invested in shares of a corresponding Portfolio of the Trusts. Shares are offered by the Portfolios at net asset value. Shares in which the Variable Investment Options invest are categorized by the share class of the Portfolio. EQAT issues Class K shares. All share classes issued by EQAT are subject to fees for investment management, administration and other Portfolio expenses. Class A and Class B are also subject to distribution fees imposed under distribution plans (“Distribution Plans”) and adopted by EQAT in the manner prescribed under Rule 12b-1 under the 1940 Act. The Distribution Plans provide that EQAT, on behalf of each related Portfolio, may charge a maximum annual distribution fee ("12b-1 fee") of 0.25% of the average daily net assets of a Portfolio attributable to its Class A, Class B shares. The class-specific expenses attributable to the investment in each share class of the Portfolios in which the Variable Investment Options invest are borne by the specific unit classes of the Variable Investment Options to which the investments are attributable.

EQAT, on behalf of each Portfolio, have entered into distribution agreements with Equitable Distributors, LLC (“Equitable Distributors”) a wholly-owned subsidiary of Equitable Financial and an affiliate of Equitable Investment Management Group, LLC (“EIMG”). The Distribution Plans provide that Equitable Distributors will be entitled to receive a maximum 12b-1 fee as described above.

EIMG, a wholly-owned subsidiary of Equitable Financial serves as investment adviser of the Portfolios of EQAT. EIMG either (1) directly manages the Portfolios or (2) contracts with and oversees the activities of the investment sub-advisers with respect to the Portfolios. EIMG receives management fees for services performed in its capacity as investment adviser of the Portfolios of EQAT, and pays fees to the sub-advisers for sub-advisory services to the respective Portfolios. Equitable Investment Management, LLC (“EIM”), an affiliate of Equitable Financial, serves as administrator of the Portfolios of EQAT. As the administrator, EIM either (1) carries out its responsibilities directly or (2) through sub-contracting with third-party providers. EIM receives administrative fees for services performed in its capacity as administrator of the Portfolios of EQAT. Expenses of the Portfolios of EQAT generally vary, depending on net asset levels for individual Portfolios, and range from a low annual rate of 0.64% to a high of 1.24% (after waivers, reimbursements, fees paid indirectly and including indirect expenses, as applicable) of the average daily net assets of the Portfolios of EQAT. Since these fees and expenses are reflected in the net asset value of the shares of the Portfolios and the total returns of the Variable Investment Options, they are not included in the expenses or expense ratios of the Variable Investment Options.

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

Equitable Financial, Equitable Advisors, LLC (“Equitable Advisors”) or Equitable Distributors may directly or indirectly receive 12b-1 fees and additional payments from certain unaffiliated Portfolios, their advisers, sub-advisers, distributors or affiliates, for providing certain administrative, marketing, distribution and/or shareholder support services in connection with the Variable Investment Options’ investment in the Portfolios. These fees and payments range from 0.12% to 0.50% of the unaffiliated Portfolios’ average daily net assets. Equitable Advisors or Equitable Distributors may also receive payments from the advisers or sub-advisers of the unaffiliated Portfolios or their affiliates for certain distribution services, including expenses for sales meetings or seminar sponsorships that may relate to the policies and/or the advisers’ respective Portfolios.

AllianceBernstein L.P. ("AllianceBernstein") serves as an investment advisor for a number of Portfolios in EQAT including the EQ/Large Cap Value Index, EQ/Mid Cap Index, and EQ/Small Company Index, as well as a portion of EQ Large Cap Value Managed Volatility and EQ/Quality Bond PLUS. AllianceBernstein is a limited partnership, which is indirectly majority-owned by Equitable Financial and Equitable Holdings, Inc.

Contract Distribution and Principal Underwriter:

Equitable Advisors and Equitable Distributors are distributors and principal underwriters of the Variable Life Policies and the Accounts. They are both registered with the SEC as broker-dealers and are members of the Financial Industry Regulatory Authority ("FINRA").

The Variable Life Policies are sold by financial professionals who are registered representatives of Equitable Advisors and licensed insurance agents of Equitable Network, LLC ("Equitable Network"), or its subsidiaries (affiliates of Equitable Financial). Equitable Network receives commissions under its General Sales Agreement with Equitable Financial and its Networking Agreement with Equitable Advisors. Equitable Advisors receives service related payments under its Supervisory and Distribution Agreement with Equitable Financial. The financial professionals are compensated on a commission basis by Equitable Network. The Variable Life Policies are also sold through licensed insurance agents (both affiliated and unaffiliated with Equitable Financial) and their affiliated broker-dealers (who are registered with the SEC and are members of the FINRA) that have entered into selling agreements with Equitable Financial Distributors. The licensed insurance agents who sell Equitable Financial policies for these companies are appointed agents of Equitable Financial, and are registered representatives of the broker-dealers under contracts with Equitable Distributors. Equitable Financial serves as the transfer agent for EQAT.

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

6. Reorganizations

There were no reorganizations within the Variable Investment Options of the Account during the years ended December 31, 2023 and December 31, 2022.

7. Contractowner Charges and Asset-based Charges

The cost of insurance, administration charges, and, if applicable, the cost of any optional benefits added by riders to the insurance policies are deducted monthly from the total amount under the policy in each Variable Investment Option ("fund value") to compensate Equitable Financial. Equitable Financial may impose a surrender charge when the Contractowners request a full or partial surrender. These deductions are treated as Contractowner redemptions by the Account.

There are optional insurance benefit charges, in addition to the charges below, which are determined in accordance with the specific terms of the relevant rider, if such options are elected.

The charges below are the current annual charges deducted from the net unit value of the Variable Investment Options, or from the fund value. Higher charges may be permitted under the terms of the various policies. All charges are reflected as part of "Contractowners Transactions" in the Statement of Changes in Net Assets with the exception of Mortality & Expense Risk Charge which is reflected as "Asset-based Charges" in the Statement of Operations.

Premium Charge: This charge is deducted from each premium payment and is netted against Payments received from Contractowners". This charge ranges from a low of 0% to a high of 12%.

Mortality & Expense Risk Charge: This charge is deducted daily from the net unit value of the Variable Investment Options, and ranges from a low of 0.35% to a high of 0.75%.

Monthly per $1,000 Specified Amount Charge: This charge is deducted over a number of years from the fund value, depending upon the provisions of the Variable Life Policies. Generally, this charge grades to zero based on a schedule, as defined in the Variable Life Policies, and is a percentage or dollar value of the Specified Amount (Face Amount). This charge varies based on a number of factors, including issue age, gender and risk class.

Administrative Charge: The charge is deducted monthly from the fund value, based on a specific amount of the policy. The charge ranges from a low of $0 to a high of $31.50.

Cost of Insurance: The cost of insurance charge is a monthly deduction, which is deducted from fund value. The charge is calculated by multiplying the cost of insurance rate by the net amount at risk at the beginning of the policy month. The charge varies by gender, age, policy duration and underwriting class.

Transfer Charge: Equitable Financial does not currently assess this charge, but reserves the right to impose a transfer charge. The charge may range from a low of $0 to a high of $25 per transfer.

Partial Surrender Charge: This charge is assessed when a Contractowner surrenders a portion of their policy's cash value. The charge is deducted from the fund value, and ranges from a low of $0 to a high of $25.

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

Surrender Charge: The surrender charge is assessed upon full policy surrender. Generally, the charge is based on a factor per $1,000 of the initial specified amount (or increases in the specified amount), and varies by issue age, gender and risk class.

Loan interest rate spread: It is assessed each policy anniversary after the loan is taken, or upon death, surrender or lapse, if earlier. The amount of the charges will vary from a low of 0% to a high of 1.60% depending on the policy year.

Illustration Projection Report Charge: This charge may be deducted upon notification of a report request after the first policy anniversary, which will project future benefits and values under the policy. The charge ranges from a low of $0 to a high of $25.

8. Financial Highlights

The Variable Life Policies have unique combinations of features and fees that are charged against the Contractowner’s account balance. Differences in the fee structures result in a variety of unit values, expense ratios and total returns.

The ranges for the total return ratios and unit values correspond to product groupings that produced the lowest and highest expense ratios. Due to the timing of the introduction of new products into the Account, contract charges and related unit values and total returns may fall outside of the ranges presented in the financial highlights.

		Units Outstanding
	Share Class+	2023		2022		2021		2020		2019
1290 VT Equity Income	A		13,069		16,059		16,732		17,131		39,236
1290 VT Equity Income	B		180,151		193,451		207,692		219,947		232,431
1290 VT GAMCO Small Company Value	B		528,272		569,259		606,759		646,910		703,647
1290 VT Socially Responsible	A		50,589		55,868		60,147		61,098		64,428
1290 VT Socially Responsible	B		13,240		15,703		17,466		13,142		13,270
BNY Mellon Stock Index Fund, Inc.	Initial		547,836		575,243		600,830		632,846		673,137
EQ/AB Small Cap Growth	A		17,009		17,277		17,725		20,232		21,565
EQ/Aggressive Allocation	B		64,840		63,692		64,599		65,939		69,740
EQ/All Asset Growth Allocation	B		1,329,163		1,412,734		1,491,165		1,590,365		1,718,217
EQ/Capital Group Research	A		513,100		550,413		590,833		619,102		156,902
EQ/Conservative Allocation	B		10,166		13,201		14,581		14,343		16,235
EQ/Conservative-Plus Allocation	B		44,743		47,235		50,811		46,706		35,178
EQ/Core Bond Index	A		601,049		634,971		653,808		684,551		685,494
EQ/Core Plus Bond	A		45,405		49,005		50,613		50,198		54,514

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

		Units Outstanding
	Share Class+	2023		2022		2021		2020		2019
EQ/Global Equity Managed Volatility	A		12,214		13,744		14,502		15,724		16,783
EQ/Intermediate Government Bond	A		174,829		183,769		189,676		199,627		208,062
EQ/Janus Enterprise	A		219,463		233,249		246,055		259,517		272,976
EQ/Large Cap Growth Managed Volatility	B		229,404		243,736		259,752		279,715		304,480
EQ/Large Cap Value Index	A		179,266		207,666		217,007		232,538		236,322
EQ/Large Cap Value Managed Volatility	A		38,980		43,544		44,327		45,532		46,501
EQ/Loomis Sayles Growth Portfolio	B		1,321,677		1,419,973		1,500,229		1,619,523		1,767,657
EQ/MFS International Growth	B		303,168		328,687		351,136		370,924		397,967
EQ/Mid Cap Index	A		87,008		91,539		95,446		102,898		111,140
EQ/Mid Cap Value Managed Volatility	A		281,684		298,193		314,643		333,150		357,694
EQ/Moderate Allocation	B		203,061		165,394		175,244		184,474		193,982
EQ/Moderate-Plus Allocation	B		127,367		153,550		167,874		180,990		189,747
EQ/Money Market	A		600,911		652,871		761,439		751,403		634,249
EQ/Morgan Stanley Small Cap Growth	B		802,298		865,288		915,555		987,097		N/A
EQ/PIMCO Ultra Short Bond	B		107,399		113,799		115,815		121,087		120,779
EQ/Quality Bond PLUS	B		159,803		165,271		173,163		174,802		185,986
EQ/Small Company Index	A		24,073		26,004		26,740		28631		31117
EQ/JPMorgan Growth Stock Portfolio	B		685,583		801,549		847,804		911,368		987,236
EQ/Value Equity	B		26,866		28,594		29,269		32,607		32,892
Fidelity^®VIP Contrafund^® Portfolio	Service		413,905		454,595		481,892		510,251		551,279
Franklin Income VIP Fund	Class 2		171,371		188,646		195,082		198,628		208,706
Franklin Rising Dividends VIP Fund	Class 2		31,537		34,348		35,714		37,603		38,150
Invesco V.I. Diversified Dividend Fund	Series 1		19,228		21,519		22,804		22,731		23,135
Invesco V.I. Global Core Equity Fund	Series 1		15,109		17,190		18,369		18,414		19,130
Invesco V.I. Global Fund	Service		55,662		59638		60926		63,874		66,631
Invesco V.I. Health Care Fund	Series 1		15,912		19,168		21,242		24,041		27,593
Invesco V.I. Technology Fund	Series 1		12,847		13,505		13,970		12,591		13,501
Janus Henderson Balanced Portfolio	Institutional		185,707		199,508		212,272		223,827		244,068
Janus Henderson Enterprise Portfolio	Institutional		346,973		377,342		403,940		453,584		493,627
Janus Henderson Forty Portfolio	Institutional		250,403		263,545		278,985		294,400		316,693
Janus Henderson Forty Portfolio	Service		55,511		59,841		61,831		65,231		65,901
Janus Henderson Global Research Portfolio	Institutional		444,819		487,621		512,118		535,709		559,757
Janus Henderson Overseas Portfolio	Service		90,704		97,832		100,876		105,499		113,587
MFS^®Utilities Series	Initial		23,107		23,715		24,503		26,114		27,730
PIMCO Global Bond Opportunities Portfolio (Unhedged)	Administrative		86,805		98,322		102,347		103,160		105,262

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

		Unit Value
	Share Class+	2023				2022				2021				2020				2019
		Low		High		Low		High		Low		High		Low		High		Low		High
1290 VT Equity Income	A	$	30.05	$	30.05	$	28.68	$	28.68	$	27.99	$	27.99	$	22.28	$	22.28	$	23.48	$	23.48
1290 VT Equity Income	B		33.85		42.31		32.35		40.28		31.62		39.20		25.20		31.13		26.60		32.72
1290 VT GAMCO Small Company Value	B		198.43		116.02		165.15		96.18		186.27		108.04		86.64		149.97		57.56		137.98
1290 VT Socially Responsible	A		32.70		31.65		25.84		24.91		33.41		32.08		24.71		25.83		19.92		21.70
1290 VT Socially Responsible	B		42.87		42.87		33.74		33.74		43.48		43.48		33.48		33.48		28.01		28.01
BNY Mellon Stock Index Fund, Inc.	Initial		40.30		47.77		32.25		38.06		39.77		46.76		31.21		36.54		26.64		31.08
EQ/AB Small Cap Growth	A		44.35		44.35		37.80		37.80		53.03		53.03		47.12		47.12		34.76		34.76
EQ/Aggressive Allocation	B		20.62		22.03		17.54		18.66		21.64		22.94		18.61		19.65		16.25		17.08
EQ/All Asset Growth Allocation	B		46.36		25.90		40.91		22.77		48.20		26.71		24.17		43.78		19.68		39.28
EQ/Capital Group Research	A		49.45		62.93		40.51		51.35		50.37		63.59		41.24		51.86		28.19		42.21
EQ/Conservative Allocation	B		13.26		14.17		12.38		13.18		14.27		15.13		14.00		14.78		13.14		13.82
EQ/Conservative-Plus Allocation	B		15.26		16.30		13.86		14.75		16.34		17.32		15.43		16.29		14.13		14.86
EQ/Core Bond Index	A		11.49		16.35		11.08		15.69		12.23		17.26		12.58		17.69		11.95		16.73
EQ/Core Plus Bond	A		16.85		16.85		16.18		16.18		18.65		18.65		19.04		19.04		16.63		16.63
EQ/Global Equity Managed Volatility	A		64.73		64.73		53.53		53.53		67.95		67.95		58.84		58.84		51.67		51.67
EQ/Intermediate Government Bond	A		18.31		16.29		17.76		15.73		19.37		17.10		17.53		19.94		14.34		19.26
EQ/Janus Enterprise	A		37.26		60.28		31.95		51.69		38.43		62.18		33.01		53.40		27.88		45.10
EQ/Large Cap Growth Managed Volatility	B		46.31		49.83		33.57		35.98		48.73		52.01		39.47		41.97		30.13		31.90
EQ/Large Cap Value Index	A		38.02		40.42		34.46		36.63		37.68		40.05		30.42		32.34		29.87		31.75
EQ/Large Cap Value Managed Volatility	A		29.12		29.96		25.64		26.38		29.10		29.94		23.39		24.07		22.21		22.85
EQ/Loomis Sayles Growth Portfolio	B		43.25		60.24		30.31		42.05		42.40		58.59		36.77		50.61		28.30		38.79
EQ/MFS International Growth	B		42.74		30.60		37.64		26.84		44.72		31.76		29.14		41.17		23.81		35.96
EQ/Mid Cap Index	A		48.78		50.99		42.29		44.20		49.12		51.34		39.79		41.59		35.38		36.98
EQ/Mid Cap Value Managed Volatility	A		37.86		37.86		33.57		33.57		39.43		39.43		31.05		31.05		29.69		29.69
EQ/Moderate Allocation	B		15.96		17.05		14.31		15.23		17.06		18.08		15.85		16.73		14.35		15.09

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

		Unit Value
	Share Class+	2023				2022				2021				2020				2019
		Low		High		Low		High		Low		High		Low		High		Low		High
EQ/Moderate-Plus Allocation	B	$	18.44	$	19.70	$	16.11	$	17.14	$	19.57	$	20.74	$	17.50	$	18.47	$	15.45	$	16.25
EQ/Money Market	A		10.89		11.72		10.51		11.26		10.47		11.18		10.53		11.20		10.59		11.21
EQ/Morgan Stanley Small Cap Growth	B		34.70		14.34		26.01		10.70		46.90		19.23		18.79		46.03		-		-
EQ/PIMCO Ultra Short Bond	B		14.72		14.85		13.98		14.11		14.12		14.24		14.23		14.36		14.13		14.25
EQ/Quality Bond PLUS	B		24.45		18.74		23.63		18.04		26.52		20.16		20.67		27.29		19.47		25.95
EQ/Small Company Index	A		52.12		52.12		44.78		44.78		56.04		56.04		48.88		48.88		40.97		40.97
EQ/JPMorgan Growth Stock Portfolio	B		95.23		48.68		65.57		33.38		107.66		54.59		48.13		95.29		35.01		70.31
EQ/Value Equity	B		39.58		39.58		33.23		33.23		39.29		39.29		31.45		31.45		30.69		30.69
Fidelity^®VIP Contrafund^® Portfolio	Service		57.48		70.78		43.43		53.27		59.44		72.61		46.89		57.06		36.22		43.90
Franklin Income VIP Fund	Class 2		21.75		34.30		20.09		31.68		21.33		33.64		18.33		28.91		18.27		28.81
Franklin Rising Dividends VIP Fund	Class 2		58.25		58.25		52.15		52.15		58.52		58.52		46.32		46.32		40.08		40.08
Invesco V.I. Diversified Dividend Fund	Series 1		20.16		20.16		18.55		18.55		18.93		18.93		15.98		15.98		16.01		16.01
Invesco V.I. Global Core Equity Fund	Series 1		26.06		26.06		21.48		21.48		27.59		27.59		23.87		23.87		21.16		21.16
Invesco V.I. Global Fund	Service		59.48		59.48		44.39		44.39		65.45		65.45		57.03		57.03		44.94		44.94
Invesco V.I. Health Care Fund	Series 1		43.50		44.08		42.37		42.94		49.06		49.70		43.84		44.42		38.43		38.94
Invesco V.I. Technology Fund	Series 1		44.63		44.63		30.48		30.48		50.94		50.94		44.68		44.68		30.68		30.68
Janus Henderson Balanced Portfolio	Institutional		43.35		47.92		37.84		41.67		45.61		50.02		39.21		42.83		34.56		37.60
Janus Henderson Enterprise Portfolio	Institutional		59.99		47.65		51.19		40.50		61.35		48.35		41.53		52.91		28.91		44.62
Janus Henderson Forty Portfolio	Institutional		52.49		75.76		37.78		54.32		57.29		82.03		46.97		66.98		33.95		48.22
Janus Henderson Forty Portfolio	Service		90.24		90.24		64.84		64.84		98.18		98.18		80.37		80.37		58.01		58.48
Janus Henderson Global Research Portfolio	Institutional		19.37		29.14		15.39		23.07		19.25		28.72		16.42		24.41		13.78		20.40
Janus Henderson Overseas Portfolio	Service		38.29		38.39		34.75		34.84		38.25		38.35		33.88		33.97		29.30		29.38
MFS^®Utilities Series	Initial		69.03		72.03		70.77		73.83		70.48		73.54		61.99		64.68		58.74		61.29
PIMCO Global Bond Opportunities Portfolio (Unhedged)	Administrative		20.96		23.02		19.99		21.94		22.54		24.74		23.60		25.91		21.50		23.61

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

	Net Assets (000’s)
	2023		2022		2021		2020		2019
1290 VT Equity Income	$	7,548	$	7,776	$	8,140	$	6,837	$	8,103
1290 VT GAMCO Small Company Value		71,217		63,695		76,494		65,624		65,662
1290 VT Socially Responsible		2,172		1,925		2,694		1,954		1,707
BNY Mellon Stock Index Fund, Inc.		25,245		21,158		27,181		22,416		20,244
EQ/AB Small Cap Growth		754		653		940		953		750
EQ/Aggressive Allocation		1,415		1,179		1,472		1,286		1,183
EQ/All Asset Growth Allocation		50,274		47,069		58,329		56,536		54,932
EQ/Capital Group Research		23,581		20,695		27,498		23,512		5,081
EQ/Conservative Allocation		142		171		217		208		221
EQ/Conservative-Plus Allocation		707		677		857		740		514
EQ/Core Bond Index		9,011		9,130		10,353		11,120		10,522
EQ/Core Plus Bond		765		793		944		956		907
EQ/Global Equity Managed Volatility		791		736		985		925		867
EQ/Intermediate Government Bond		2,708		2,756		3,098		3,351		3,369
EQ/Janus Enterprise		8,935		8,136		10,353		9,380		8,336
EQ/Large Cap Growth Managed Volatility		11,223		8,616		13,286		11,559		9,578
EQ/Large Cap Value Index		7,232		7,592		8,675		7,506		7,490
EQ/Large Cap Value Managed Volatility		1,168		1,149		1,327		1,096		1,063
EQ/Loomis Sayles Growth Portfolio		76,353		57,290		84,342		78,720		65,922
EQ/MFS International Growth		11,117		10,591		13,526		13,109		12,246
EQ/Mid Cap Index		4,428		4,039		4,892		4,272		4,104
EQ/Mid Cap Value Managed Volatility		10,665		10,009		12,405		10,346		10,620
EQ/Moderate Allocation		3,416		2,476		3,120		3,043		2,882
EQ/Moderate-Plus Allocation		2,491		2,613		3,450		3,313		3,057
EQ/Money Market		6,936		7,269		8,381		8,261		7,045
EQ/Morgan Stanley Small Cap Growth		12,007		9,702		18,449		19,419		-
EQ/PIMCO Ultra Short Bond		1,592		1,602		1,646		1,735		1,718
EQ/Quality Bond PLUS		3,394		3,385		3,966		4,113		4,149
EQ/Small Company Index		1,255		1,164		1,499		1,399		1,275
EQ/JPMorgan Growth Stock Portfolio		51,304		40,193		69,371		65,750		52,675
EQ/Value Equity		1,063		950		1,150		1,025		1,010
Fidelity^®VIP Contrafund^® Portfolio		27,532		22,747		32,890		27,411		22,803
Franklin Income VIP Fund		5,796		5,903		6,485		5,678		5,950
Franklin Rising Dividends VIP Fund		1,837		1,791		2,090		1,742		1,529
Invesco V.I. Diversified Dividend Fund		388		399		432		363		370
Invesco V.I. Global Core Equity Fund		394		369		507		440		405
Invesco V.I. Global Fund		3,311		2,647		3,988		3,643		2,995
Invesco V.I. Health Care Fund		692		812		1,042		1,054		1,061
Invesco V.I. Technology Fund		573		412		712		563		414
Janus Henderson Balanced Portfolio		8,777		8,191		10,472		9,456		9,064
Janus Henderson Enterprise Portfolio		16,898		15,670		20,029		19,208		17,543
Janus Henderson Forty Portfolio		21,629		16,466		26,206		22,658		17,339
Janus Henderson Global Research Portfolio		11,488		9,949		13,048		11,665		10,194
Janus Henderson Overseas Portfolio		3,482		3,408		3,868		3,583		3,337
MFS^®Utilities Series		1,664		1,750		1,801		1,688		1,699
PIMCO Global Bond Opportunities Portfolio (Unhedged)		1,966		2,118		2,484		2,623		2,440

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

	Income Ratio *
	2023			2022			2021			2020			2019
1290 VT Equity Income		1.98	%		1.74	%		1.54	%		1.65	%		2.30	%
1290 VT GAMCO Small Company Value		0.62			0.50			0.65			0.62			0.60
1290 VT Socially Responsible		0.71			0.58			0.44			0.73			0.91
BNY Mellon Stock Index Fund, Inc.		1.42			1.27			1.15			1.45			1.74
EQ/AB Small Cap Growth		0.24			0.12			-			0.07			0.16
EQ/Aggressive Allocation		1.41			0.83			4.24			2.55			1.62
EQ/All Asset Growth Allocation		1.85			1.22			3.93			1.41			1.71
EQ/Capital Group Research		0.34			0.15			-			0.16			0.58
EQ/Conservative Allocation		2.11			1.35			1.46			1.69			1.51
EQ/Conservative-Plus Allocation		2.01			1.20			2.25			2.28			1.62
EQ/Core Bond Index		2.06			1.58			1.39			1.49			1.87
EQ/Core Plus Bond		2.26			2.32			1.34			2.03			2.05
EQ/Global Equity Managed Volatility		0.85			0.32			0.89			0.59			1.34
EQ/Intermediate Government Bond		2.65			0.91			0.70			0.96			1.51
EQ/Janus Enterprise		0.03			-			0.10			-			0.02
EQ/Large Cap Growth Managed Volatility		0.42			0.06			-			0.08			0.44
EQ/Large Cap Value Index		1.54			1.39			1.28			1.70			2.19
EQ/Large Cap Value Managed Volatility		1.61			1.24			0.99			1.44			1.92
EQ/Loomis Sayles Growth Portfolio		0.00			-			-			-			0.03
EQ/MFS International Growth		1.24			0.78			0.23			0.41			1.26
EQ/Mid Cap Index		0.98			0.90			0.63			0.85			1.14
EQ/Mid Cap Value Managed Volatility		1.40			0.88			0.58			0.99			1.40
EQ/Moderate Allocation		2.16			1.18			2.62			2.11			1.63
EQ/Moderate-Plus Allocation		1.50			1.02			3.48			2.35			1.65
EQ/Money Market		4.25			0.99			-			0.19			1.59
EQ/Morgan Stanley Small Cap Growth		0.00			0.01			-			-			-
EQ/PIMCO Ultra Short Bond		3.96			1.36			0.41			0.76			2.24
EQ/Quality Bond PLUS		2.13			0.64			0.77			1.29			1.58
EQ/Small Company Index		1.11			0.85			0.66			0.86			1.13
EQ/JPMorgan Growth Stock Portfolio		0.00			-			-			-			-
EQ/Value Equity		1.13			1.01			0.68			1.70			1.87
Fidelity^®VIP Contrafund^® Portfolio		0.39			0.37			0.05			0.14			0.37
Franklin Income VIP Fund		5.04			4.75			4.78			5.49			5.30
Franklin Rising Dividends VIP Fund		0.93			0.74			0.87			1.15			1.28
Invesco V.I. Diversified Dividend Fund		1.88			1.87			2.28			2.83			2.95
Invesco V.I. Global Core Equity Fund		0.55			0.32			1.01			1.25			1.39
Invesco V.I. Global Fund		0.00			-			-			0.41			0.65
Invesco V.I. Health Care Fund		0.00			-			0.20			0.29			0.04
Invesco V.I. Technology Fund		0.00			-			-			-			-
Janus Henderson Balanced Portfolio		2.09			1.32			0.90			1.71			1.96
Janus Henderson Enterprise Portfolio		0.16			0.35			0.32			0.06			0.21
Janus Henderson Forty Portfolio		0.18			0.14			-			0.23			0.13
Janus Henderson Global Research Portfolio		0.92			1.51			0.53			0.66			1.01
Janus Henderson Overseas Portfolio		1.43			1.57			1.06			1.06			1.84
MFS^®Utilities Series		3.44			2.38			1.69			2.32			4.13
PIMCO Global Bond Opportunities Portfolio (Unhedged)		2.29			1.42			4.91			2.38			2.44

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

		Expense Ratio **
	Share Class+	2023						2022						2021						2020						2019
		Low			High			Low			High			Low			High			Low			High			Low			High
1290 VT Equity Income	A		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%		0.60	%
1290 VT Equity Income	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
1290 VT GAMCO Small Company Value	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
1290 VT Socially Responsible	A		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
1290 VT Socially Responsible	B		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
BNY Mellon Stock Index Fund, Inc.	Initial		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/AB Small Cap Growth	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Aggressive Allocation	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/All Asset Growth Allocation	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Capital Group Research	A		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Conservative Allocation	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Conservative-Plus Allocation	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Core Bond Index	A		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Core Plus Bond	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Global Equity Managed Volatility	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Intermediate Government Bond	A		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Janus Enterprise	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Large Cap Growth Managed Volatility	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Large Cap Value Index	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Large Cap Value Managed Volatility	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Loomis Sayles Growth Portfolio	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/MFS International Growth	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Mid Cap Index	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Mid Cap Value Managed Volatility	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Moderate Allocation	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

		Expense Ratio **
	Share Class+	2023						2022						2021						2020						2019
		Low			High			Low			High			Low			High			Low			High			Low			High
EQ/Moderate-Plus Allocation	B		0.35	%		0.75	%		0.35	%		0.75	%		0.35	%		0.75	%		0.35	%		0.75	%		0.35	%		0.75	%
EQ/Money Market	A		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Morgan Stanley Small Cap Growth	B		0.35			0.75			0.35			0.75			0.35			0.75			-			-			-			-
EQ/PIMCO Ultra Short Bond	B		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/Quality Bond PLUS	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Small Company Index	A		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
EQ/JPMorgan Growth Stock Portfolio	B		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
EQ/Value Equity	B		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Fidelity^®VIP Contrafund^® Portfolio	Service		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
Franklin Income VIP Fund	Class 2		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Franklin Rising Dividends VIP Fund	Class 2		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Invesco V.I. Diversified Dividend Fund	Series 1		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Invesco V.I. Global Core Equity Fund	Series 1		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Invesco V.I. Global Fund	Service		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Invesco V.I. Health Care Fund	Series 1		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Invesco V.I. Technology Fund	Series 1		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Janus Henderson Balanced Portfolio	Institutional		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
Janus Henderson Enterprise Portfolio	Institutional		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
Janus Henderson Forty Portfolio	Institutional		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
Janus Henderson Forty Portfolio	Service		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
Janus Henderson Global Research Portfolio	Institutional		0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75			0.35			0.75
Janus Henderson Overseas Portfolio	Service		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
MFS^®Utilities Series	Initial		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35
PIMCO Global Bond Opportunities Portfolio (Unhedged)	Administrative		0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35			0.35

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

		Total Return ***
	Share Class+	2023						2022						2021						2020						2019
		Low			High			Low			High			Low			High			Low			High			Low			High
1290 VT Equity Income	A		4.78	%		4.78	%		2.47	%		2.47	%		25.63	%		25.63	%		(5.11	)%		(5.11	)%		23.47	%		23.47	%
1290 VT Equity Income	B		4.63	%		5.05	%		2.32	%		2.73	%		25.44	%		25.95	%		(5.25	)%		(4.87	)%		23.29	%		23.78	%
1290 VT GAMCO Small Company Value	B		20.15	%		20.63	%		(11.34	)%		(10.98	)%		24.20	%		24.70	%		8.69	%		9.13	%		22.43	%		22.92	%
1290 VT Socially Responsible	A		26.55	%		27.06	%		(22.67	)%		(22.36	)%		29.34	%		29.86	%		19.06	%		19.54	%		29.29	%		29.81	%
1290 VT Socially Responsible	B		27.06	%		27.06	%		(22.38	)%		(22.38	)%		29.86	%		29.86	%		19.54	%		19.54	%		29.81	%		29.81	%
BNY Mellon Stock Index Fund, Inc.	Initial		24.99	%		25.49	%		(18.93	)%		(18.60	)%		27.45	%		27.96	%		17.13	%		17.60	%		30.20	%		30.73	%
EQ/AB Small Cap Growth	A		17.32	%		17.32	%		(28.71	)%		(28.71	)%		12.52	%		12.52	%		35.59	%		35.59	%		27.36	%		27.36	%
EQ/Aggressive Allocation	B		17.55	%		18.02	%		(18.97	)%		(18.64	)%		16.31	%		16.77	%		14.54	%		14.99	%		23.56	%		24.05	%
EQ/All Asset Growth Allocation	B		13.31	%		13.76	%		(15.11	)%		(14.77	)%		10.10	%		10.54	%		11.45	%		11.89	%		18.21	%		18.68	%
EQ/Capital Group Research	A		22.07	%		22.56	%		(19.57	)%		(19.25	)%		22.14	%		22.63	%		18.65	%		22.84	%		31.89	%		32.42	%
EQ/Conservative Allocation	B		7.15	%		7.57	%		(13.25	)%		(12.90	)%		1.94	%		2.35	%		6.51	%		6.94	%		8.42	%		8.86	%
EQ/Conservative-Plus Allocation	B		10.10	%		10.54	%		(15.19	)%		(14.85	)%		5.94	%		6.36	%		9.17	%		9.60	%		12.63	%		13.09	%
EQ/Core Bond Index	A		3.78	%		4.19	%		(9.42	)%		(9.06	)%		(2.83	)%		(2.44	)%		5.27	%		5.70	%		5.47	%		5.89	%
EQ/Core Plus Bond	A		4.16	%		4.16	%		(13.24	)%		(13.24	)%		(2.03	)%		(2.03	)%		14.46	%		14.46	%		6.54	%		6.54	%
EQ/Global Equity Managed Volatility	A		20.91	%		20.91	%		(21.22	)%		(21.22	)%		15.49	%		15.49	%		13.88	%		13.88	%		24.83	%		24.83	%
EQ/Intermediate Government Bond	A		3.10	%		3.51	%		(8.33	)%		(7.97	)%		(2.86	)%		(2.47	)%		3.52	%		3.94	%		3.39	%		3.80	%
EQ/Janus Enterprise	A		16.61	%		16.61	%		(16.86	)%		(16.86	)%		16.43	%		16.43	%		18.40	%		18.40	%		35.98	%		35.98	%
EQ/Large Cap Growth Managed Volatility	B		37.95	%		38.50	%		(31.10	)%		(30.82	)%		23.45	%		23.94	%		31.03	%		31.55	%		32.72	%		33.25	%
EQ/Large Cap Value Index	A		10.34	%		10.34	%		(8.54	)%		(8.54	)%		23.85	%		23.85	%		1.85	%		1.85	%		25.19	%		25.19	%
EQ/Large Cap Value Managed Volatility	A		13.57	%		13.57	%		(11.89	)%		(11.89	)%		24.39	%		24.39	%		5.31	%		5.31	%		25.00	%		25.00	%
EQ/Loomis Sayles Growth Portfolio	B		42.67	%		43.24	%		(28.51	)%		(28.23	)%		15.31	%		15.77	%		29.94	%		30.46	%		30.36	%		30.88	%
EQ/MFS International Growth	B		13.53	%		13.98	%		(15.82	)%		(15.48	)%		8.61	%		9.04	%		14.48	%		14.94	%		26.29	%		26.80	%
EQ/Mid Cap Index	A		15.35	%		15.35	%		(13.90	)%		(13.90	)%		23.45	%		23.45	%		12.46	%		12.46	%		24.94	%		24.94	%
EQ/Mid Cap Value Managed Volatility	A		12.80	%		12.80	%		(14.86	)%		(14.86	)%		26.96	%		26.96	%		4.60	%		4.60	%		26.14	%		26.14	%
EQ/Moderate Allocation	B		4.86	%		11.96	%		(16.10	)%		(15.76	)%		7.61	%		8.04	%		10.43	%		10.87	%		14.67	%		15.13	%
EQ/Moderate-Plus Allocation	B		14.47	%		14.92	%		(17.68	)%		(17.35	)%		11.83	%		12.28	%		13.25	%		13.70	%		19.10	%		19.57	%
EQ/Money Market	A		3.67	%		4.09	%		0.34	%		0.74	%		(0.56	)%		(0.16	)%		(0.55	)%		(0.15	)%		0.76	%		1.16	%
EQ/Morgan Stanley Small Cap Growth	B		33.40	%		33.93	%		(44.54	)%		(44.32	)%		1.91	%		2.31	%		74.77	%		75.15	%		0.00	%		0.00	%
EQ/PIMCO Ultra Short Bond	B		5.26	%		5.26	%		(0.95	)%		(0.95	)%		(0.80	)%		(0.80	)%		0.76	%		0.76	%		2.19	%		2.19	%
EQ/Quality Bond PLUS	B		3.44	%		3.86	%		(10.88	)%		(10.52	)%		(2.85	)%		(2.46	)%		5.18	%		5.60	%		4.84	%		5.26	%
EQ/Small Company Index	A		16.40	%		16.40	%		(20.09	)%		(20.09	)%		14.66	%		14.66	%		19.31	%		19.31	%		24.78	%		24.78	%
EQ/JPMorgan Growth Stock Portfolio	B		45.23	%		45.81	%		(39.10	)%		(38.85	)%		12.98	%		13.43	%		35.53	%		36.08	%		30.12	%		30.64	%
EQ/Value Equity	B		19.10	%		19.10	%		(15.40	)%		(15.40	)%		24.93	%		24.93	%		2.46	%		2.46	%		23.00	%		23.00	%
Fidelity^®VIP Contrafund^® Portfolio	Service		32.35	%		32.87	%		(26.93	)%		(26.64	)%		26.76	%		27.26	%		29.46	%		29.97	%		30.47	%		30.99	%

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (continued)

December 31, 2023

		Total Return ***
	Share Class+	2023						2022						2021						2020						2019
		Low			High			Low			High			Low			High			Low			High			Low			High
Franklin Income VIP Fund	Class 2		8.24	%		8.24	%		(5.80	)%		(5.80	)%		16.35	%		16.35	%		0.34	%		0.34	%		15.65	%		15.65	%
Franklin Rising Dividends VIP Fund	Class 2		11.68	%		11.68	%		(10.88	)%		(10.88	)%		26.35	%		26.35	%		15.57	%		15.57	%		28.78	%		28.78	%
Invesco V.I. Diversified Dividend Fund	Series 1		8.67	%		8.67	%		(2.02	)%		(2.02	)%		18.48	%		18.48	%		(0.21	)%		(0.21	)%		24.65	%		24.65	%
Invesco V.I. Global Core Equity Fund	Series 1		21.30	%		21.30	%		(22.15	)%		(22.15	)%		15.57	%		15.57	%		12.83	%		12.83	%		24.76	%		24.76	%
Invesco V.I. Global Fund	Service		33.98	%		33.98	%		(32.17	)%		(32.17	)%		14.77	%		14.77	%		26.89	%		26.89	%		30.99	%		30.99	%
Invesco V.I. Health Care Fund	Series 1		2.66	%		2.66	%		(13.62	)%		(13.62	)%		11.91	%		11.91	%		14.06	%		14.06	%		32.04	%		32.04	%
Invesco V.I. Technology Fund	Series 1		46.43	%		46.43	%		(40.16	)%		(40.16	)%		14.01	%		14.01	%		45.61	%		45.61	%		35.40	%		35.40	%
Janus Henderson Balanced Portfolio	Institutional		14.55	%		15.01	%		(17.02	)%		(16.69	)%		16.32	%		16.79	%		13.46	%		13.91	%		21.67	%		22.16	%
Janus Henderson Enterprise Portfolio	Institutional		17.19	%		17.66	%		(16.57	)%		(16.23	)%		15.96	%		16.42	%		18.58	%		19.06	%		34.47	%		35.01	%
Janus Henderson Forty Portfolio	Institutional		38.92	%		39.47	%		(34.05	)%		(33.78	)%		21.98	%		22.47	%		38.36	%		38.91	%		36.14	%		36.68	%
Janus Henderson Forty Portfolio	Service		39.17	%		39.17	%		(33.96	)%		(33.96	)%		22.17	%		22.17	%		38.55	%		38.55	%		36.37	%		36.37	%
Janus Henderson Global Research Portfolio	Institutional		25.83	%		26.34	%		(20.01	)%		(19.69	)%		17.21	%		17.68	%		19.16	%		19.64	%		28.08	%		28.59	%
Janus Henderson Overseas Portfolio	Service		10.20	%		10.20	%		(9.15	)%		(9.15	)%		12.89	%		12.89	%		15.62	%		15.62	%		26.26	%		26.26	%
MFS^®Utilities Series	Initial		(2.45	)%		(2.45	)%		0.40	%		0.40	%		13.69	%		13.69	%		5.53	%		5.53	%		24.63	%		24.63	%
PIMCO Global Bond Opportunities Portfolio (Unhedged)	Administrative		4.89	%		4.89	%		(11.31	)%		(11.31	)%		(4.49	)%		(4.49	)%		9.73	%		9.73	%		5.75	%		5.75	%

* This ratio represents the amount of dividend income, excluding distributions from net realized gains, received by the Variable Investment Option from the Portfolio, divided by the average daily net assets. This ratio excludes those expenses, such as asset-based charges and Contractowner charges, that result in direct reductions in the unit value. The recognition of dividend income by the Variable Investment Option is affected by the timing of the declaration of dividends by the Portfolio in which the Variable Investment Options invests.

** This ratio represents the annual contract expenses consisting of mortality and risk expenses, for each period indicated. This ratio includes only those expenses that result in a direct reduction to unit value. Charges made directly to Contractowner account through the redemption of units and expenses of the respective Portfolio have been excluded. The summary may not reflect the minimum and maximum contract charges offered by the Company as Contractowners may not have selected all available and applicable contract options.

*** This ratio represents the total return for the periods indicated, including changes in the value of the Portfolio, and expenses assessed through the reduction of unit value. This ratio does not include any expenses, such as premium and withdrawal charges, as applicable, or expenses assessed through the redemption of units. The total return would have been lower had such expenses been included in the calculation. The effective date of the Variable Investment Options is indicated by a date notation, as applicable. The total return is calculated for each period indicated from the effective date through the end of the reporting period. For those Variable Investment Options with less than a year of operations, the total return is not annualized but calculated from the effective date through the end of the reporting period.

+ Share class reflects the shares of the portfolio that the Variable Investment Options invest in.

EQUITABLE AMERICA VARIABLE ACCOUNT L

Notes to Financial Statements (concluded)

December 31, 2023

9. Subsequent Events

All material subsequent transactions and events have been evaluated for the period from December 31, 2023 through the date on which the financial statements were issued. It has been determined that there are no subsequent transactions or events that require adjustment or disclosure in the financial statements.