COMPANION LIFE SEPARATE ACCOUNT C

Companion Life

Separate Account C

Financial Statements as of December 31, 2023, and for

each of the Periods Presented in the Years Ended

December 31, 2023 and 2022, and Report of

Independent Registered Public Accounting Firm

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors of

Companion Life Insurance Company

Hauppauge, New York

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statements of net assets of each of the subaccounts of Companion Life Separate Account C (the “Account”) listed in Note 2 as of December 31, 2023; the related statements of operations and changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended for each of the subaccounts, except for the subaccounts indicated in the table below, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the subaccounts listed in Note 2 constituting the Account as of December 31, 2023, and the results of their operations and the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended (or for the periods listed in the table below), in conformity with accounting principles generally accepted in the United States of America.


Individual Subaccounts Comprising the Companion Life Separate Account C		Financial Highlights

Pioneer – Real Estate Shares VCT		For the period January 1, 2023 to April 28, 2023 and years ended December 31, 2022, 2021, 2020, and 2019

DWS – Bond		For the period January 1, 2021 to October 28, 2021 and years ended December 31, 2020, and 2019

DWS – Money Market		For the period October 28, 2021 to December 31, 2021 and years ended December 31, 2020, and 2019

Morgan Stanley – VIF Core Plus Fixed Income		For the period January 1, 2023 to July 28, 2023 and years ended December 31, 2022, 2021, 2020, and 2019

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Account’s management. Our responsibility is to express an opinion on the Account’s financial statements and financial highlights 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 the Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits 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 and financial highlights are free of material misstatement, whether due to error or fraud. The Account is not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Account’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, 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 and financial highlights. 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 and financial highlights. Our procedures included confirmation of investments owned as of December 31, 2023, by correspondence with the custodians. We believe that our audits provide a reasonable basis for our opinion.

LOGO

Omaha, Nebraska

April 4, 2024

We have served as the auditor of the Account since 1996.

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENT OF NET ASSETS

DECEMBER 31, 2023


			Fair Value
			Contracts in		Contracts in
			Accumulation		Payout
			(Deferred)		(Annuitization)
	Cost		Period		Period		Net Assets		Shares
NET ASSETS
Investments:
Alger:
American Growth	$	116,494	$	109,178	$	13,132	$	122,310		1,959
American Small Capitalization		91,881		56,553		5,989		62,542		3,784
Federated:
Government Money Fund II		113,376		98,880		14,497		113,376		113,376
Fund for U.S. Government Securities II		82,913		71,591		—		71,591		7,657
Fidelity:
VIP Asset Manager: Growth		99,327		126,027		—		126,027		5,886
VIP Contrafund		153,049		224,076		—		224,076		4,608
VIP Equity Income		158,924		175,733		—		175,733		7,072
VIP Growth		972		1,392		—		1,392		15
VIP Index 500		37,874		88,158		—		88,158		191
MFS:
Core Equity Portfolio		72,831		82,165		—		82,165		2,969
Emerging Growth Series		89,159		118,810		—		118,810		1,971
High Yield Series		26,895		23,289		—		23,289		4,658
Research Series		56,144		71,165		—		71,165		2,226
Income Series II		49,662		43,260		—		43,260		5,168
Pioneer:
Equity Income VCT		10,287		8,278		—		8,278		549
Fund VCT		2,584		272		2,310		2,582		160
Mid Cap Value VCT		87,876		73,405		—		73,405		6,554
DWS
Global Opportunities		3,444		3,059		—		3,059		308
Core Equity VIP		11,516		13,747		—		13,747		1,124
International		40,015		37,011		—		37,011		4,955
Money Market		6,866		6,866		—		6,866		6,866
Small Cap Index VIP		6,110		6,111		—		6,111		448
T. Rowe Price:
Equity Income		369,614		429,857		—		429,857		15,485
International Stock		141,892		147,691		—		147,691		9,840
Limited-Term Bond		43,954		38,685		2,897		41,582		8,923
New America Growth		137,082		163,199		—		163,199		4,744
Moderate Allocation		178,209		188,196		—		188,196		9,400
Morgan Stanley:
VIF Emerging Markets Equity		22,430		21,900		—		21,900		1,698

See notes to these financial statements.

- 3 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	Alger												Federated
	American Growth						American Small Capitalization						Government Money Fund II
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	—		$	—		$	—		$	—		$	2,968		$	239
Expenses:
Mortality & expense risk		(1,121	)		(1,281	)		(595	)		(688	)		(644	)		(219	)
Administrative charges		(224	)		(255	)		(118	)		(137	)		(128	)		(44	)

Net investment income (expense)		(1,345	)		(1,536	)		(713	)		(825	)		2,196			(24	)

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		(715	)		(1,505	)		(2,963	)		(2,389	)		—			—
Net realized gain distributions		—			5,872			—			10,589			—			—

Net realized gains (losses)		(715	)		4,367			(2,963	)		8,200			—			—

Change in unrealized appreciation (depreciation) during the year		32,152			(71,501	)		12,126			(44,316	)		—			—

Increase (decrease) in net assets from operations		30,092			(68,670	)		8,450			(36,941	)		2,196			(24	)

Contract Transactions:
Payments received from contract owners		—			(6	)		—			(41	)		3,101			—
Transfers between subaccounts (including fixed account), net		(1,190	)		6,783			879			4,197			97,466			(1,732	)
Transfers for contract benefits and terminations		(6,066	)		(14,429	)		(4,198	)		(4,309	)		(9,278	)		(1,367	)
Contract maintenance charges		(79	)		(93	)		(15	)		(19	)		(58	)		(16	)
Adjustments to net assets allocated to contracts in payout year		—			357			—			205			—			—

Net increase (decrease) in net assets from contract transactions		(7,335	)		(7,388	)		(3,334	)		33			91,231			(3,115	)

Total increase (decrease) in net assets		22,757			(76,058	)		5,116			(36,908	)		93,427			(3,139	)
Net assets at beginning of year		99,553			175,610			57,426			94,333			19,949			23,088

Net assets at end of year	$	122,310		$	99,552		$	62,542		$	57,425		$	113,376		$	19,949

Accumulation units:
Purchases		10			97			22			103			84,405			46
Withdrawals		(101	)		(197	)		(95	)		(112	)		(10,893	)		(2,605	)

Net increase (decrease) in units outstanding		(91	)		(100	)		(73	)		(9	)		73,512			(2,559	)
Units outstanding at beginning of year		1,442			1,542			1,371			1,380			16,326			18,885

Units outstanding at end of year		1,351			1,442			1,298			1,371			89,838			16,326

See notes to these financial statements.

- 4 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	Federated (continued)						Fidelity
	Fund for U.S. Government Securities II						VIP Asset Manager: Growth						VIP Contrafund
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	1,698		$	1,604		$	2,164		$	2,272		$	994		$	966
Expenses:
Mortality & expense risk		(698	)		(839	)		(1,192	)		(1,293	)		(1,982	)		(1,895	)
Administrative charges		(139	)		(167	)		(237	)		(257	)		(394	)		(377	)

Net investment income (expense)		861			598			735			722			(1,382	)		(1,306	)

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		(1,750	)		(1,504	)		1,437			1,914			1,023			1,218
Net realized gain distributions		—			—			—			8,468			7,119			9,089

Net realized gains (losses)		(1,750	)		(1,504	)		1,437			10,382			8,142			10,307

Change in unrealized appreciation (depreciation) during the year		3,071			(11,753	)		14,689			(38,375	)		47,584			(73,640	)

Increase (decrease) in net assets from operations		2,182			(12,659	)		16,861			(27,271	)		54,344			(64,639	)

Contract Transactions:
Payments received from contract owners		—			34			—			9			—			—
Transfers between subaccounts (including fixed account), net		2,803			(1,465	)		(325	)		217			(147	)		(155	)
Transfers for contract benefits and terminations		(8,923	)		(6,329	)		(6,921	)		(10,944	)		(1,697	)		(2,209	)
Contract maintenance charges		(40	)		(44	)		(34	)		(39	)		(59	)		(51	)
Adjustments to net assets allocated to contracts in payout year		—			—			—			—			—			—

Net increase (decrease) in net assets from contract transactions		(6,160	)		(7,804	)		(7,280	)		(10,757	)		(1,903	)		(2,415	)

Total increase (decrease) in net assets		(3,978	)		(20,463	)		9,581			(38,028	)		52,441			(67,054	)
Net assets at beginning of year		75,569			96,032			116,446			154,474			171,635			238,689

Net assets at end of year	$	71,591		$	75,569		$	126,027		$	116,446		$	224,076		$	171,635

Accumulation units:
Purchases		176			107			5			13			—			—
Withdrawals		(503	)		(509	)		(169	)		(261	)		(16	)		(20	)

Net increase (decrease) in units outstanding		(327	)		(402	)		(164	)		(248	)		(16	)		(20	)
Units outstanding at beginning of year		4,101			4,503			2,783			3,031			1,606			1,626

Units outstanding at end of year		3,774			4,101			2,619			2,783			1,590			1,606

See notes to these financial statements.

- 5 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	Fidelity (continued)
	VIP Equity Income						VIP Growth						VIP Index 500
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	6,147		$	6,657		$	3		$	417		$	1,355		$	2,456
Expenses:
Mortality & expense risk		(3,218	)		(3,516	)		(173	)		(851	)		(972	)		(2,020	)
Administrative charges		(641	)		(700	)		(21	)		(102	)		(182	)		(344	)

Net investment income (expense)		2,288			2,441			(191	)		(536	)		201			92

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		15,303			2,758			8,564			711			38,784			33,917
Net realized gain distributions		9,227			11,671			463			5,026			1,314			1,545

Net realized gains (losses)		24,530			14,429			9,027			5,737			40,098			35,462

Change in unrealized appreciation (depreciation) during the year		145			(40,103	)		(6,335	)		(26,374	)		(20,499	)		(78,529	)

Increase (decrease) in net assets from operations		26,963			(23,233	)		2,501			(21,173	)		19,800			(42,975	)

Contract Transactions:
Payments received from contract owners		—			31			—			—			2,430			148
Transfers between subaccounts (including fixed account), net		86			(2,870	)		17			—			(2,672	)		(1,638	)
Transfers for contract benefits and terminations		(182,508	)		(27,038	)		(61,426	)		(2,310	)		(65,664	)		(56,656	)
Contract maintenance charges		(117	)		(123	)		(17	)		(18	)		(53	)		(63	)
Adjustments to net assets allocated to contracts in payout year		—			—			—			—			—			—

Net increase (decrease) in net assets from contract transactions		(182,539	)		(30,000	)		(61,426	)		(2,328	)		(65,959	)		(58,209	)

Total increase (decrease) in net assets		(155,576	)		(53,233	)		(58,925	)		(23,501	)		(46,159	)		(101,184	)
Net assets at beginning of year		331,309			384,542			60,317			83,818			134,317			235,501

Net assets at end of year	$	175,733		$	331,309		$	1,392		$	60,317		$	88,158		$	134,317

Accumulation units:
Purchases		11			1			—			—			54			40
Withdrawals		(2,726	)		(475	)		(591	)		(22	)		(810	)		(1,042	)

Net increase (decrease) in units outstanding		(2,715	)		(474	)		(591	)		(22	)		(756	)		(1,002	)
Units outstanding at beginning of year		5,273			5,747			601			623			2,042			3,044

Units outstanding at end of year		2,558			5,273			10			601			1,286			2,042

See notes to these financial statements.

- 6 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	MFS
	Core Equity Portfolio						Emerging Growth Series						High Yield Series
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	393		$	398		$	—		$	—		$	1,302		$	1,272
Expenses:
Mortality & expense risk		(769	)		(1,253	)		(1,065	)		(1,072	)		(224	)		(228	)
Administrative charges		(153	)		(249	)		(212	)		(213	)		(44	)		(46	)

Net investment income (expense)		(529	)		(1,104	)		(1,277	)		(1,285	)		1,034			998

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		877			2,281			1,102			1,925			(236	)		(182	)
Net realized gain distributions		3,507			14,001			8,362			12,160			—			—

Net realized gains (losses)		4,384			16,282			9,464			14,085			(236	)		(182	)

Change in unrealized appreciation (depreciation) during the year		11,628			(42,897	)		22,828			(58,654	)		1,561			(3,737	)

Increase (decrease) in net assets from operations		15,483			(27,719	)		31,015			(45,854	)		2,359			(2,921	)

Contract Transactions:
Payments received from contract owners		2,430			135			—			—			—			—
Transfers between subaccounts (including fixed account), net		(1,413	)		179			(1,517	)		2,287			41			(109	)
Transfers for contract benefits and terminations		(10,467	)		(58,537	)		(2,549	)		(6,473	)		(834	)		(596	)
Contract maintenance charges		(40	)		(50	)		(41	)		(47	)		(6	)		(6	)
Adjustments to net assets allocated to contracts in payout year		—			—			—			—			—			—

Net increase (decrease) in net assets from contract transactions		(9,490	)		(58,273	)		(4,107	)		(4,233	)		(799	)		(711	)

Total increase (decrease) in net assets		5,993			(85,992	)		26,908			(50,087	)		1,560			(3,632	)
Net assets at beginning of year		76,172			162,164			91,902			141,989			21,729			25,361

Net assets at end of year	$	82,165		$	76,172		$	118,810		$	91,902		$	23,289		$	21,729

Accumulation units:
Purchases		53			45			4			30			2			—
Withdrawals		(202	)		(1,013	)		(45	)		(77	)		(28	)		(24	)

Net increase (decrease) in units outstanding		(149	)		(968	)		(41	)		(47	)		(26	)		(24	)
Units outstanding at beginning of year		1,308			2,276			1,095			1,142			751			775

Units outstanding at end of year		1,159			1,308			1,054			1,095			725			751

See notes to these financial statements.

- 7 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	MFS (continued)												Pioneer
	Research Series						Income Series II						Equity Income VCT
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	337		$	350		$	1,453		$	1,576		$	131		$	123
Expenses:
Mortality & expense risk		(658	)		(731	)		(402	)		(464	)		(79	)		(79	)
Administrative charges		(131	)		(145	)		(80	)		(92	)		(15	)		(16	)

Net investment income (expense)		(452	)		(526	)		971			1,020			37			28

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		1,298			2,260			(1,227	)		(951	)		(28	)		(19	)
Net realized gain distributions		3,565			9,135			—			442			593			921

Net realized gains (losses)		4,863			11,395			(1,227	)		(509	)		565			902

Change in unrealized appreciation (depreciation) during the year		8,440			(26,732	)		2,897			(8,283	)		(141	)		(1,709	)

Increase (decrease) in net assets from operations		12,851			(15,863	)		2,641			(7,772	)		461			(779	)

Contract Transactions:
Payments received from contract owners		—			41			—			22			—			—
Transfers between subaccounts (including fixed account), net		(821	)		(288	)		4,705			(501	)		—			—
Transfers for contract benefits and terminations		(6,500	)		(7,770	)		(5,638	)		(4,343	)		—			—
Contract maintenance charges		(26	)		(37	)		(23	)		(25	)		(8	)		(7	)
Adjustments to net assets allocated to contracts in payout year		—			—			—			—			—			—

Net increase (decrease) in net assets from contract transactions		(7,347	)		(8,054	)		(956	)		(4,847	)		(8	)		(7	)

Total increase (decrease) in net assets		5,504			(23,917	)		1,685			(12,619	)		453			(786	)
Net assets at beginning of year		65,661			89,578			41,575			54,194			7,825			8,611

Net assets at end of year	$	71,165		$	65,661		$	43,260		$	41,575		$	8,278		$	7,825

Accumulation units:
Purchases		5			9			222			43			—			—
Withdrawals		(106	)		(123	)		(263	)		(254	)		—			—

Net increase (decrease) in units outstanding		(101	)		(114	)		(41	)		(211	)		—			—
Units outstanding at beginning of year		979			1,093			1,899			2,110			214			214

Units outstanding at end of year		878			979			1,858			1,899			214			214

See notes to these financial statements.

- 8 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	Pioneer (continued)
	Fund VCT						Mid Cap Value VCT						Real Estate Shares VCT
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	14		$	10		$	1,304		$	2,694		$	185		$	671
Expenses:
Mortality & expense risk		(23	)		(25	)		(668	)		(1,166	)		(93	)		(333	)
Administrative charges		(4	)		(5	)		(133	)		(232	)		(19	)		(66	)

Net investment income (expense)		(13	)		(20	)		503			1,296			73			272

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		(31	)		(12	)		(1,591	)		(12,892	)		(25,882	)		(1,189	)
Net realized gain distributions		96			395			7,579			52,104			2,229			2,126

Net realized gains (losses)		65			383			5,988			39,212			(23,653	)		937

Change in unrealized appreciation (depreciation) during the year		517			(961	)		1,194			(50,829	)		23,195			(14,496	)

Increase (decrease) in net assets from operations		569			(598	)		7,685			(10,321	)		(385	)		(13,287	)

Contract Transactions:
Payments received from contract owners		—			—			2,430			156			—			(17	)
Transfers between subaccounts (including fixed account), net		—			—			2,088			(11,194	)		(27,108	)		(154	)
Transfers for contract benefits and terminations		(190	)		(197	)		(6,302	)		(60,220	)		(548	)		(1,790	)
Contract maintenance charges		(10	)		(10	)		(43	)		(49	)		—			(25	)
Adjustments to net assets allocated to contracts in payout year		—			50			—			—			—			448

Net increase (decrease) in net assets from contract transactions		(200	)		(157	)		(1,827	)		(71,307	)		(27,656	)		(1,538	)

Total increase (decrease) in net assets		369			(755	)		5,858			(81,628	)		(28,041	)		(14,825	)
Net assets at beginning of year		2,213			2,968			67,547			149,175			28,041			42,866

Net assets at end of year	$	2,582		$	2,213		$	73,405		$	67,547		$	—		$	28,041

Accumulation units:
Purchases		—			2			95			6			3			8
Withdrawals		(6	)		(7	)		(121	)		(1,248	)		(542	)		(32	)

Net increase (decrease) in units outstanding		(6	)		(5	)		(26	)		(1,242	)		(539	)		(24	)
Units outstanding at beginning of year		73			78			1,173			2,415			539			563

Units outstanding at end of year		67			73			1,147			1,173			—			539

See notes to these financial statements.

- 9 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	DWS
	Global Opportunities						Core Equity VIP						International
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	19		$	8		$	84		$	84		$	1,144		$	1,297
Expenses:
Mortality & expense risk		(31	)		(33	)		(136	)		(184	)		(353	)		(401	)
Administrative charges		(6	)		(7	)		(27	)		(37	)		(71	)		(80	)

Net investment income (expense)		(18	)		(32	)		(79	)		(137	)		720			816

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		(164	)		(11	)		517			556			(1,182	)		(1,331	)
Net realized gain distributions		20			613			765			2,546			—			—

Net realized gains (losses)		(144	)		602			1,282			3,102			(1,182	)		(1,331	)

Change in unrealized appreciation (depreciation) during the year		795			(1,594	)		1,891			(6,461	)		6,485			(6,144	)

Increase (decrease) in net assets from operations		633			(1,024	)		3,094			(3,496	)		6,023			(6,659	)

Contract Transactions:
Payments received from contract owners		—			—			—			46			—			12
Transfers between subaccounts (including fixed account), net		(72	)		76			(436	)		(393	)		(1,043	)		82
Transfers for contract benefits and terminations		(558	)		(52	)		(4,989	)		(2,453	)		(5,516	)		(3,707	)
Contract maintenance charges		(9	)		(9	)		(16	)		(17	)		(12	)		(12	)
Adjustments to net assets allocated to contracts in payout year		—			—			—			—			—			—

Net increase (decrease) in net assets from contract transactions		(639	)		15			(5,441	)		(2,817	)		(6,571	)		(3,625	)

Total increase (decrease) in net assets		(6	)		(1,009	)		(2,347	)		(6,313	)		(548	)		(10,284	)
Net assets at beginning of year		3,065			4,074			16,094			22,407			37,559			47,843

Net assets at end of year	$	3,059		$	3,065		$	13,747		$	16,094		$	37,011		$	37,559

Accumulation units:
Purchases		—			1			1			4			23			91
Withdrawals		(14	)		(1	)		(128	)		(69	)		(372	)		(291	)

Net increase (decrease) in units outstanding		(14	)		—			(127	)		(65	)		(349	)		(200	)
Units outstanding at beginning of year		76			76			409			474			2,162			2,362

Units outstanding at end of year		62			76			282			409			1,813			2,162

See notes to these financial statements.

- 10 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	DWS (continued)												T. Rowe Price
	Money Market						Small Cap Index VIP						Equity Income
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	312		$	74		$	61		$	52		$	10,707		$	12,211
Expenses:
Mortality & expense risk		(87	)		(84	)		(55	)		(57	)		(5,498	)		(6,772	)
Administrative charges		(8	)		(10	)		(11	)		(11	)		(1,084	)		(1,300	)

Net investment income (expense)		217			(20	)		(5	)		(16	)		4,125			4,139

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		—			—			(6	)		(1	)		35,112			19,291
Net realized gain distributions		—			—			132			972			17,489			31,902

Net realized gains (losses)		—			—			126			971			52,601			51,192

Change in unrealized appreciation (depreciation) during the year		—			—			693			(2,413	)		(15,212	)		(87,441	)

Increase (decrease) in net assets from operations		217			(20	)		814			(1,458	)		41,514			(32,110	)

Contract Transactions:
Payments received from contract owners		—			—			—			—			2,430			140
Transfers between subaccounts (including fixed account), net		—			—			—			—			4,318			(17,724	)
Transfers for contract benefits and terminations		—			—			—			—			(211,468	)		(82,917	)
Contract maintenance charges		(6	)		(7	)		—			—			(88	)		(115	)
Adjustments to net assets allocated to contracts in payout year		—			—			—			—			—			—

Net increase (decrease) in net assets from contract transactions		(6	)		(7	)		—			—			(204,808	)		(100,616	)

Total increase (decrease) in net assets		211			(27	)		814			(1,458	)		(163,294	)		(132,726	)
Net assets at beginning of year		6,655			6,682			5,297			6,755			593,151			725,877

Net assets at end of year	$	6,866		$	6,655		$	6,111		$	5,297		$	429,857		$	593,151

Accumulation units:
Purchases		—			—			—			—			100			3
Withdrawals		(5	)		(6	)		—			—			(2,736	)		(1,377	)

Net increase (decrease) in units outstanding		(5	)		(6	)		—			—			(2,636	)		(1,374	)
Units outstanding at beginning of year		5,401			5,407			163			163			8,104			9,478

Units outstanding at end of year		5,396			5,401			163			163			5,468			8,104

See notes to these financial statements.

- 11 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	T. Rowe Price (continued)
	International Stock						Limited-Term Bond						New America Growth
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	1,404		$	1,239		$	1,395		$	1,046		$	374		$	—
Expenses:
Mortality & expense risk		(1,414	)		(1,868	)		(424	)		(547	)		(1,696	)		(2,374	)
Administrative charges		(282	)		(372	)		(85	)		(109	)		(300	)		(384	)

Net investment income (expense)		(292	)		(1,001	)		886			390			(1,622	)		(2,758	)

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		(346	)		(5,932	)		(840	)		(541	)		1,979			1,684
Net realized gain distributions		—			3,742			—			78			10,751			10,828

Net realized gains (losses)		(346	)		(2,190	)		(840	)		(463	)		12,730			12,512

Change in unrealized appreciation (depreciation) during the year		20,594			(36,431	)		1,506			(3,267	)		25,785			(68,265	)

Increase (decrease) in net assets from operations		19,956			(39,622	)		1,552			(3,340	)		36,893			(58,511	)

Contract Transactions:
Payments received from contract owners		2,429			177			—			12			—			72
Transfers between subaccounts (including fixed account), net		(1,887	)		12,763			1,134			(3,337	)		(1,690	)		1,379
Transfers for contract benefits and terminations		(11,978	)		(61,411	)		(10,587	)		(4,809	)		(66,678	)		(11,244	)
Contract maintenance charges		(64	)		(70	)		(41	)		(47	)		(41	)		(48	)
Adjustments to net assets allocated to contracts in payout year		—			—			—			76			—			—

Net increase (decrease) in net assets from contract transactions		(11,500	)		(48,541	)		(9,494	)		(8,105	)		(68,409	)		(9,841	)

Total increase (decrease) in net assets		8,456			(88,163	)		(7,942	)		(11,445	)		(31,516	)		(68,352	)
Net assets at beginning of year		139,235			227,398			49,524			60,969			194,715			263,067

Net assets at end of year	$	147,691		$	139,235		$	41,582		$	49,524		$	163,199		$	194,715

Accumulation units:
Purchases		159			516			99			50			2			18
Withdrawals		(596	)		(2,568	)		(654	)		(521	)		(609	)		(106	)

Net increase (decrease) in units outstanding		(437	)		(2,052	)		(555	)		(471	)		(607	)		(88	)
Units outstanding at beginning of year		5,723			7,775			2,919			3,390			1,844			1,932

Units outstanding at end of year		5,286			5,723			2,364			2,919			1,237			1,844

See notes to these financial statements.

- 12 -

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022


	T. Rowe Price (continued)						Morgan Stanley
	Moderate Allocation						VIF Emerging Markets Equity						VIF Core Plus Fixed Income
	2023			2022			2023			2022			2023			2022
Income:
Dividends	$	4,682		$	3,706		$	320		$	159		$	3,226		$	5,328
Expenses:
Mortality & expense risk		(2,089	)		(2,413	)		(203	)		(323	)		(441	)		(1,238	)
Administrative charges		(416	)		(480	)		(40	)		(64	)		(88	)		(247	)

Net investment income (expense)		2,177			813			77			(228	)		2,697			3,843

Realized gains (losses) on investments:
Net realized gains (losses) on sale of fund shares		550			818			(69	)		(2,179	)		(20,517	)		(14,333	)
Net realized gain distributions		533			4,483			345			3,831			—			2,379

Net realized gains (losses)		1,083			5,301			276			1,652			(20,517	)		(11,954	)

Change in unrealized appreciation (depreciation) during the year		23,732			(61,242	)		1,735			(12,817	)		19,275			(14,049	)

Increase (decrease) in net assets from operations		26,992			(55,128	)		2,088			(11,393	)		1,455			(22,160	)

Contract Transactions:
Payments received from contract owners		—			4			810			60			140			240
Transfers between subaccounts (including fixed account), net		(520	)		2,124			173			6,433			(74,009	)		4,949
Transfers for contract benefits and terminations		(52,097	)		(28,015	)		(626	)		(17,690	)		(2,144	)		(56,630	)
Contract maintenance charges		(95	)		(117	)		(17	)		(17	)		(27	)		(65	)
Adjustments to net assets allocated to contracts in payout year		—			—			—			—			—			—

Net increase (decrease) in net assets from contract transactions		(52,712	)		(26,004	)		340			(11,214	)		(76,040	)		(51,506	)

Total increase (decrease) in net assets		(25,720	)		(81,132	)		2,428			(22,607	)		(74,585	)		(73,666	)
Net assets at beginning of year		213,916			295,048			19,472			42,079			74,585			148,251

Net assets at end of year	$	188,196		$	213,916		$	21,900		$	19,472		$	—		$	74,585

Accumulation units:
Purchases		7			41			46			260			68			359
Withdrawals		(963	)		(516	)		(32	)		(767	)		(4,074	)		(3,093	)

Net increase (decrease) in units outstanding		(956	)		(475	)		14			(507	)		(4,006	)		(2,734	)
Units outstanding at beginning of year		4,191			4,666			846			1,353			4,006			6,740

Units outstanding at end of year		3,235			4,191			860			846			—			4,006

See notes to these financial statements.

- 13 -

COMPANION LIFE SEPARATE ACCOUNT C

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

1.	NATURE OF OPERATIONS

Companion Life Separate Account C (the “Separate Account”) was established by Companion Life Insurance Company (“Companion”) on February 18, 1994, under the laws of the State of New York, and is registered as a unit investment trust under the Investment Company Act of 1940, as amended. The Separate Account is a funding vehicle for individual variable annuity contracts. The assets of the Separate Account are owned by Companion, however, the net assets of the Separate Account are clearly identified and distinguished from Companion’s other assets and liabilities. The portion of the Separate Account’s assets applicable to the variable annuity contracts is not chargeable with liabilities arising out of any other business Companion may conduct.

A contract owner of the Separate Account may allocate funds to the fixed income account, which is part of Companion’s general account, in addition to the subaccounts detailed below. Interests in the fixed income account have not been registered under the Securities Act of 1933 and Companion has not been registered as an investment company under the Investment Company Act of 1940, due to exemptive and exclusionary provisions under such acts.

2.	SUBACCOUNTS

The Separate Account is divided into subaccounts for which accumulation units are separately maintained. Each subaccount invests exclusively in shares of a corresponding mutual fund portfolio. The available subaccounts with activity during 2023 or 2022 are:

Alger

Alger American Fund

Alger American Large Cap Growth Portfolio Class O (“American Growth”)

Alger American Small Cap Growth Portfolio Class O (“American Small Capitalization”)

Federated

Federated Insurance Series

Federated Hermes Government Money Market Fund II Portfolio (“Government Money Fund II”)

Federated Hermes Fund for U.S. Government Securities II (“Fund for U.S. Government Securities II”)

Fidelity

Fidelity Variable Insurance Products Fund

Fidelity VIP Equity-Income Portfolio Initial Class (“VIP Equity Income”)

Fidelity VIP Growth Portfolio Initial Class (“VIP Growth”)

Fidelity Variable Insurance Products

Fidelity VIP Asset Manager: Growth Portfolio Initial Class (“VIP Asset Manager: Growth”)

Fidelity VIP Contrafund Portfolio Service Class (“VIP Contrafund”)

Fidelity VIP Index 500 Portfolio Initial Class (“VIP Index 500”)

MFS

MFS Variable Insurance Trust

MFS Core Equity Portfolio (“Core Equity Portfolio”)

MFS Growth Series Portfolio Initial Class (“Emerging Growth Series”)

MFS VIT II High Yield Initial Class (“High Yield Series”)

MFS Research Series Portfolio Initial Class (“Research Series”)

MFS VIT II Income Initial Class (“Income Series II”)

Pioneer

Pioneer Variable Contracts Trust

Pioneer Equity Income VCT Portfolio Class II (“Equity Income VCT”)

Pioneer Fund VCT Portfolio Class II (“Fund VCT”)

Pioneer Mid Cap Value VCT Portfolio Class I (“Mid Cap Value VCT”)

Pioneer Real Estate Shares VCT Portfolio Class I (“Real Estate Shares VCT”)

DWS

DWS Variable Series I

DWS Global Opportunities VIP Class B (“Global Opportunities”)

DWS Core Equity VIP Class B (“Core Equity VIP”)

DWS CROCI International VIP Class A (“International”)

DWS Government Money Market VIP (“Money Market”)

DWS Investments VIT Funds

DWS Small Cap Index VIP Class A (“Small Cap Index VIP”)

T. Rowe Price

T. Rowe Price Equity Series, Inc.

T. Rowe Price Equity Income Portfolio (“Equity Income”)

T. Rowe Price New America Growth Portfolio (“New America Growth”)

T. Rowe Price Moderate Allocation Portfolio (“Moderate Allocation”)

T. Rowe Price International Series, Inc.

T. Rowe Price International Stock Portfolio (“International Stock”)

T. Rowe Price Fixed Income Series, Inc.

T. Rowe Price Limited-Term Bond Portfolio (“Limited-Term Bond”)

Morgan Stanley

Morgan Stanley Variable Insurance Funds

Morgan Stanley VIF Emerging Markets Equity Portfolio Class I (“VIF Emerging Markets Equity”)

Morgan Stanley VIF Core Plus Fixed Income Portfolio Class I (“VIF Core Plus Fixed Income”)

The availability of some subaccounts is dependent upon the product under which each contract was written.

The following subaccounts are available but are not shown on the statements due to not having had any activity in 2023 and 2022:

DWS CROCI International VIP - B (“International B”)

Fidelity VIP Mid Cap Portfolio Service Class 2 (“VIP Mid Cap”)

Fidelity VIP Asset Manager Portfolio Initial Class (“VIP Asset Manager”)

DWS Bond VIP (“Bond”)

Effective April 28, 2023, “Pioneer Real Estate Shares VCT Portfolio Class I” was no longer available for investment. Assets were transferred to Federated Hermes Government Money Fund II (“Government Money Fund II”)

Effective July 28, 2023, “Morgan Stanley VIF Core Plus Fixed Income Portfolio Class I” was no longer available for investment. Assets were transferred to Federated Hermes Government Money Fund II (“Government Money Fund II”)

- 14 -

3.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and disclosures of assets at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting year. Actual results could differ from those estimates. The most significant estimates and assumptions include those used in investment valuation in absence of quoted market prices.

Security Valuation and Related Investment Income - Investments are made in the portfolios of the Separate Account and are valued at the reported net asset values of such portfolios, which value their investment securities at fair value. Transactions are recorded on a trade date basis. Income from dividends and gains from realized gain distributions are recorded on the ex-distribution date. Realized gains and losses on the sales of investments are determined based on the average cost of investments sold.

The investments of the Separate Account and Companion Life Separate Account B are jointly held in accounts with the investment managers.

Contracts in Payout (Annuitization) period - Net assets allocated to contracts in the payout period are computed according to the 1983 Individual Annuitant Mortality Table. The assumed investment return is 4.0%. The mortality risk is fully borne by Companion and may result in additional amounts being transferred into the subaccounts of the Separate Account by Companion to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to Companion. These items are included in the adjustment to net assets allocated to contracts in payout year.

Federal Income Taxes - Net taxable income or loss of the subaccounts of the Separate Account are included in the federal taxable income of Companion, which is taxed as a life insurance company under the Internal Revenue Code (“IRC”). Under current provisions of the IRC, Companion does not expect to incur federal income taxes on the earnings of the subaccounts of the Separate Account to the extent that earnings are credited under the contracts. Based on this, no charge is being made currently to the subaccounts of the Separate Account for federal income taxes. A charge may be made in future years for any federal income taxes that would be attributable to the contracts in the event of changes in the tax law.

As of December 31, 2023, there were no positions for which management believes it is reasonably possible that the total amounts of tax contingencies will significantly increase or decrease within 12 months of the reporting date.

Fair Value Measurements - Current fair value guidance requires financial instruments measured at fair value to be categorized into a three-level classification. The lowest level input that is significant to the fair value measurement of a financial instrument is used to categorize the instrument and reflects the judgment of management. The valuation criteria is summarized as follows:


Level 1 -		Inputs are unadjusted and represent quoted prices in active markets for identical assets at the measurement date.

Level 2 -		Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset through correlation with market data at the measurement date.

Level 3 -		Inputs reflect management’s best estimate of what market participants would use in pricing the asset at the measurement date. Financial assets presented at fair value and categorized as Level 3 are generally those that are valued using unobservable inputs.

Each subaccount invests in shares of mutual funds, which calculate a daily net asset value based on the value of the underlying securities in the portfolio. As such, the investments held in the Separate Account were valued using Level 2 inputs as defined by the applicable fair value guidance.

Payments Received from Contract Owners - In the Statement of Operations and Changes in Net Assets, the line item “Payments received from contract owners” includes both deposits received from policyholders and the net gains and losses resulting from the timing of executed trades.

Subsequent Events - Subsequent events have been evaluated through April 4, 2024, the date these financial statements were issued.

4.	ACCOUNT CHARGES

Mortality & Expense Risk Charges:

Companion deducts a daily charge as compensation for the mortality and expense risks assumed by Companion. The annual rate is a percentage of the net asset value of each subaccount based on the following products:

Series I 1.25% Series V 1.00%

These charges are assessed through reduction of unit values. Companion guarantees that the mortality and expense charge will not increase above these levels.

Administrative Charges:

Companion deducts a daily administrative expense charge from the net assets of the subaccounts of the Separate Account. The annual rate is a percentage of the net asset value of each subaccount based on the following products:

Series I 0.15% Series V 0.20%

These charges are assessed through reduction of unit values. Companion guarantees that the daily administrative expense charge will not increase.

Contract Maintenance Charges:

Withdrawal Charge - Companion may deduct a withdrawal charge, expressed as a percentage of accumulation value surrendered or withdrawn. The withdrawal charge percentage varies depending upon the number of years elapsed since the date the purchase payment was made. The amount of the withdrawal requested plus the withdrawal charge is deducted from the accumulation value on the date the request is received as a redemption of units. Withdrawal charges are applied as a percentage of the requested withdrawal and range from 0% - 7%.

Transfer Fees - A transfer fee of $10 may be imposed for any non-systematic transfer in excess of twelve per contract year. The transfer fee is deducted from the amount transferred on the transfer date as a redemption of units.

Contract Fee - There is an annual contract fee of $30 that is deducted from the accumulated value on the last valuation date of each contract year or at complete surrender. The annual contract fee is waived if the accumulated value is greater than $50,000 on the last valuation date of the applicable contract year. This charge is assessed through the redemption of units. Companion guarantees that the annual contract fee will not increase.

- 15 -

5.	PURCHASES AND SALES OF INVESTMENTS

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


	*Purchases*		*Sales*
Alger
American Growth	$	653	$	9,333
American Small Capitalization		932		4,979
Federated
Government Money Fund II		104,651		14,192
Fund for U.S. Government Securities II		3,202		10,199
Fidelity
VIP Asset Manager: Growth		205		8,914
VIP Contrafund		2		4,281
VIP Equity Income		516		186,914
VIP Growth		16		61,636
VIP Index 500		3,318		70,431
MFS
Core Equity Portfolio		3,430		13,842
Emerging Growth Series		330		5,714
High Yield Series		51		1,118
Research Series		266		8,402
Income Series II		4,907		6,345
Pioneer
Equity Income VCT		—		102
Fund VCT		—		227
Mid Cap Value VCT		5,503		8,131
Real Estate Shares VCT		154		27,922
DWS
Global Opportunities		—		676
Core Equity VIP		56		5,660
International		409		7,404
Money Market		—		103
Small Cap Index VIP		—		66
T. Rowe Price
Equity Income		6,552		217,942
International Stock		3,988		17,184
Limited-Term Bond		1,662		11,665
New America Growth		160		70,565
Moderate Allocation		278		55,495
Morgan Stanley
VIF Emerging Markets Equity		1,074		977
VIF Core Plus Fixed Income		1,221		77,790

6.	ADMINISTRATION OF THE SEPARATE ACCOUNT

Companion has an administrative services agreement with Security Benefit Life Insurance Company (“Security Benefit”), whose affiliate Zinnia Corporate Holdings, LLC (“Zinnia”) performs administrative functions on behalf of Companion with respect to the contracts comprising the Separate Account.

7.	REINSURANCE ARRANGEMENTS

Companion has a reinsurance agreement to cede to Security Benefit, on a modified coinsurance basis, certain Companion rights, liabilities and obligations in the Separate Account. The ceding of this business does not discharge Companion from its primary legal liability to a contract owner.

- 16 -

8.	FINANCIAL HIGHLIGHTS

A summary of units, unit values, and net assets at December 31 and investment income ratio, expense ratio and total return for the years ended December 31 follows:


	At December 31									For the years ended December 31****
	Units		Unit Value lowest to highest					Net Assets		Investment Income Ratio*			Expense Ratio lowest to highest**						Total Return lowest to highest***
Alger
American Growth - 2023		1,351	$	90.51	to	$	90.51	$	122,310		0.00	%		1.20	%	to	1.20	%		31.10	%	to	31.10	%
American Growth - 2022		1,442		69.04	to		69.04		99,552		0.00	%		1.20	%	to	1.20	%		-39.39	%	to	-39.39	%
American Growth - 2021		1,542		113.91	to		113.91		175,610		0.00	%		1.20	%	to	1.20	%		10.50	%	to	10.50	%
American Growth - 2020		1,640		103.09	to		103.09		169,101		0.17	%		1.20	%	to	1.20	%		65.02	%	to	65.02	%
American Growth - 2019		1,796		62.47	to		62.47		112,192		0.00	%		1.20	%	to	1.20	%		25.90	%	to	25.90	%
American Small Capitalization - 2023		1,298		48.20	to		48.20		62,542		0.00	%		1.20	%	to	1.20	%		15.09	%	to	15.09	%
American Small Capitalization - 2022		1,371		41.88	to		41.88		57,425		0.00	%		1.20	%	to	1.20	%		-38.75	%	to	-38.75	%
American Small Capitalization - 2021		1,380		68.38	to		68.38		94,333		0.00	%		1.20	%	to	1.20	%		-7.18	%	to	-7.18	%
American Small Capitalization - 2020		1,508		73.67	to		73.67		111,122		0.97	%		1.20	%	to	1.20	%		65.14	%	to	65.14	%
American Small Capitalization - 2019		1,800		44.61	to		44.61		80,289		0.00	%		1.20	%	to	1.20	%		27.79	%	to	27.79	%
Federated
Government Money Fund II - 2023		89,838		1.26	to		1.26		113,376		4.45	%		1.20	%	to	1.20	%		3.28	%	to	3.28	%
Government Money Fund II - 2022		16,326		1.22	to		1.22		19,949		1.11	%		1.20	%	to	1.20	%		0.00	%	to	0.00	%
Government Money Fund II - 2021		18,885		1.22	to		1.22		23,088		0.00	%		1.20	%	to	1.20	%		-1.61	%	to	-1.61	%
Government Money Fund II - 2020		17,739		1.24	to		1.24		21,950		0.21	%		1.20	%	to	1.20	%		-0.80	%	to	-0.80	%
Government Money Fund II - 2019		18,997		1.25	to		1.25		23,745		1.62	%		1.20	%	to	1.20	%		0.81	%	to	0.81	%
Fund for U.S. Government Securities II - 2023		3,774		18.97	to		18.97		71,591		2.31	%		1.20	%	to	1.20	%		2.93	%	to	2.93	%
Fund for U.S. Government Securities II - 2022		4,101		18.43	to		18.43		75,569		1.87	%		1.20	%	to	1.20	%		-13.60	%	to	-13.60	%
Fund for U.S. Government Securities II - 2021		4,503		21.33	to		21.33		96,032		2.03	%		1.20	%	to	1.20	%		-3.22	%	to	-3.22	%
Fund for U.S. Government Securities II - 2020		4,217		22.04	to		22.04		92,930		1.55	%		1.20	%	to	1.20	%		3.96	%	to	3.96	%
Fund for U.S. Government Securities II - 2019		8,578		21.20	to		21.20		181,839		2.37	%		1.20	%	to	1.20	%		4.64	%	to	4.64	%
Fidelity
VIP Asset Manager: Growth - 2023		2,619		48.12	to		48.12		126,027		1.78	%		1.20	%	to	1.20	%		14.98	%	to	14.98	%
VIP Asset Manager: Growth - 2022		2,783		41.85	to		41.85		116,446		1.68	%		1.20	%	to	1.20	%		-17.88	%	to	-17.88	%
VIP Asset Manager: Growth - 2021		3,031		50.96	to		50.96		154,474		1.39	%		1.20	%	to	1.20	%		12.59	%	to	12.59	%
VIP Asset Manager: Growth - 2020		3,359		45.26	to		45.26		152,023		1.06	%		1.20	%	to	1.20	%		15.87	%	to	15.87	%
VIP Asset Manager: Growth - 2019		3,410		39.06	to		39.06		133,209		1.48	%		1.20	%	to	1.20	%		21.34	%	to	21.34	%
VIP Contrafund - 2023		1,590		140.91	to		140.91		224,076		0.50	%		1.20	%	to	1.20	%		31.85	%	to	31.85	%
VIP Contrafund - 2022		1,606		106.87	to		106.87		171,635		0.47	%		1.20	%	to	1.20	%		-27.20	%	to	-27.20	%
VIP Contrafund - 2021		1,626		146.79	to		146.79		238,689		0.06	%		1.20	%	to	1.20	%		26.30	%	to	26.30	%
VIP Contrafund - 2020		1,643		116.22	to		116.22		190,922		0.24	%		1.20	%	to	1.20	%		29.00	%	to	29.00	%
VIP Contrafund - 2019		1,658		90.09	to		90.09		149,389		0.47	%		1.20	%	to	1.20	%		30.00	%	to	30.00	%
VIP Equity Income - 2023		2,558		68.70	to		68.70		175,733		2.42	%		1.20	%	to	1.20	%		9.33	%	to	9.33	%
VIP Equity Income - 2022		5,273		62.84	to		62.84		331,309		1.86	%		1.20	%	to	1.20	%		-6.08	%	to	-6.08	%
VIP Equity Income - 2021		5,747		66.91	to		66.91		384,542		1.94	%		1.20	%	to	1.20	%		23.38	%	to	23.38	%
VIP Equity Income - 2020		6,314		54.23	to		54.23		342,370		1.63	%		1.20	%	to	1.20	%		5.42	%	to	5.42	%
VIP Equity Income - 2019		6,990		51.44	to		51.44		359,567		2.06	%		1.20	%	to	1.20	%		25.92	%	to	25.92	%
VIP Growth - 2023		10		134.75	to		134.75		1,392		0.01	%		1.40	%	to	1.40	%		34.33	%	to	34.33	%
VIP Growth - 2022		601		100.31	to		100.31		60,317		0.58	%		1.40	%	to	1.40	%		-25.51	%	to	-25.51	%
VIP Growth - 2021		623		134.66	to		134.66		83,818		0.00	%		1.40	%	to	1.40	%		21.49	%	to	21.49	%
VIP Growth - 2020		640		110.84	to		110.84		70,912		0.07	%		1.40	%	to	1.40	%		41.88	%	to	41.88	%
VIP Growth - 2019		657		78.12	to		78.12		51,311		0.27	%		1.40	%	to	1.40	%		32.43	%	to	32.43	%
VIP Index 500 - 2023		1,286		68.55	to		68.55		88,158		1.22	%		1.20	%	to	1.40	%		24.70	%	to	-26.54	%
VIP Index 500 - 2022		2,042		54.97	to		93.32		134,317		1.33	%		1.20	%	to	1.40	%		-19.35	%	to	-19.20	%
VIP Index 500 - 2021		3,044		68.03	to		115.71		235,501		1.26	%		1.20	%	to	1.40	%		26.78	%	to	27.04	%
VIP Index 500 - 2020		3,255		53.55	to		91.27		197,468		1.62	%		1.20	%	to	1.40	%		16.58	%	to	16.82	%
VIP Index 500 - 2019		3,442		45.84	to		78.29		178,224		1.87	%		1.20	%	to	1.40	%		29.51	%	to	29.78	%
MFS
Core Equity Portfolio - 2023		1,159		70.87	to		70.87		82,165		0.50	%		1.20	%	to	1.20	%		21.69	%	to	21.69	%
Core Equity Portfolio - 2022		1,308		58.24	to		58.24		76,172		0.33	%		1.20	%	to	1.20	%		-18.26	%	to	-18.26	%
Core Equity Portfolio - 2021		2,276		71.25	to		71.25		162,164		0.44	%		1.20	%	to	1.20	%		23.81	%	to	23.81	%
Core Equity Portfolio - 2020		2,443		57.55	to		57.55		140,594		0.66	%		1.20	%	to	1.20	%		17.28	%	to	17.28	%
Core Equity Portfolio - 2019		2,604		49.07	to		49.07		127,762		0.82	%		1.20	%	to	1.20	%		31.59	%	to	31.59	%

- 17 -


	At December 31									For the years ended December 31****
	Units		Unit Value lowest to highest					Net Assets		Investment Income Ratio*			Expense Ratio lowest to highest**						Total Return lowest to highest***
MFS (cont’d)
Emerging Growth Series - 2023		1,054	$	112.71	to	$	112.71	$	118,810		0.00	%		1.20	%	to	1.20	%		34.24	%	to	34.24	%
Emerging Growth Series - 2022		1,095		83.96	to		83.96		91,902		0.00	%		1.20	%	to	1.20	%		-32.45	%	to	-32.45	%
Emerging Growth Series - 2021		1,142		124.30	to		124.30		141,989		0.00	%		1.20	%	to	1.20	%		22.05	%	to	22.05	%
Emerging Growth Series - 2020		1,172		101.84	to		101.84		119,334		0.00	%		1.20	%	to	1.20	%		30.28	%	to	30.28	%
Emerging Growth Series - 2019		1,313		78.17	to		78.17		102,664		0.00	%		1.20	%	to	1.20	%		36.49	%	to	36.49	%
High Yield Series - 2023		725		32.14	to		32.14		23,289		5.78	%		1.20	%	to	1.20	%		11.06	%	to	11.06	%
High Yield Series - 2022		751		28.94	to		28.94		21,729		5.40	%		1.20	%	to	1.20	%		-11.58	%	to	-11.58	%
High Yield Series - 2021		775		32.73	to		32.73		25,361		5.00	%		1.20	%	to	1.20	%		2.25	%	to	2.25	%
High Yield Series - 2020		767		32.01	to		32.01		24,538		5.40	%		1.20	%	to	1.20	%		3.83	%	to	3.83	%
High Yield Series - 2019		753		30.83	to		30.83		23,213		5.97	%		1.20	%	to	1.20	%		13.43	%	to	13.43	%
Research Series - 2023		878		81.10	to		81.10		71,165		0.49	%		1.20	%	to	1.20	%		20.95	%	to	20.95	%
Research Series - 2022		979		67.05	to		67.05		65,661		0.45	%		1.20	%	to	1.20	%		-18.20	%	to	-18.20	%
Research Series - 2021		1,093		81.97	to		81.97		89,578		0.56	%		1.20	%	to	1.20	%		23.32	%	to	23.32	%
Research Series - 2020		1,181		66.47	to		66.47		78,493		0.65	%		1.20	%	to	1.20	%		15.18	%	to	15.18	%
Research Series - 2019		1,336		57.71	to		57.71		77,104		0.78	%		1.20	%	to	1.20	%		31.37	%	to	31.37	%
Income Series II - 2023		1,858		23.28	to		23.28		43,260		3.43	%		1.20	%	to	1.20	%		6.30	%	to	6.30	%
Income Series II - 2022		1,899		21.90	to		21.90		41,575		3.29	%		1.20	%	to	1.20	%		-14.72	%	to	-14.72	%
Income Series II - 2021		2,110		25.68	to		25.68		54,194		3.26	%		1.20	%	to	1.20	%		-0.73	%	to	-0.73	%
Income Series II - 2020		2,012		25.87	to		25.87		52,048		3.67	%		1.20	%	to	1.20	%		8.02	%	to	8.02	%
Income Series II - 2019		1,977		23.95	to		23.95		47,346		3.53	%		1.20	%	to	1.20	%		10.27	%	to	10.27	%
Pioneer
Equity Income VCT - 2023		214		38.70	to		38.70		8,278		1.63	%		1.20	%	to	1.20	%		5.91	%	to	5.91	%
Equity Income VCT - 2022		214		36.54	to		36.54		7,825		1.50	%		1.20	%	to	1.20	%		-9.06	%	to	-9.06	%
Equity Income VCT - 2021		214		40.18	to		40.18		8,611		1.25	%		1.20	%	to	1.20	%		23.86	%	to	23.86	%
Equity Income VCT - 2020		215		32.44	to		32.44		6,960		2.14	%		1.20	%	to	1.20	%		-1.49	%	to	-1.49	%
Equity Income VCT - 2019		215		32.93	to		32.93		7,071		2.45	%		1.20	%	to	1.20	%		23.75	%	to	23.75	%
Fund VCT - 2023		67		38.41	to		38.41		2,582		0.58	%		1.20	%	to	1.20	%		27.06	%	to	27.06	%
Fund VCT - 2022		73		30.23	to		30.23		2,213		0.39	%		1.20	%	to	1.20	%		-20.66	%	to	-20.66	%
Fund VCT - 2021		78		38.10	to		38.10		2,968		0.11	%		1.20	%	to	1.20	%		26.12	%	to	26.12	%
Fund VCT - 2020		84		30.21	to		30.21		2,546		0.46	%		1.20	%	to	1.20	%		22.46	%	to	22.46	%
Fund VCT - 2019		91		24.67	to		24.67		2,246		0.12	%		1.20	%	to	1.20	%		29.50	%	to	29.50	%
Mid Cap Value VCT - 2023		1,147		63.98	to		63.98		73,405		1.85	%		1.20	%	to	1.20	%		11.11	%	to	11.11	%
Mid Cap Value VCT - 2022		1,173		57.58	to		57.58		67,547		2.49	%		1.20	%	to	1.20	%		-6.77	%	to	-6.77	%
Mid Cap Value VCT - 2021		2,415		61.76	to		61.76		149,175		0.95	%		1.20	%	to	1.20	%		28.11	%	to	28.11	%
Mid Cap Value VCT - 2020		2,889		48.21	to		48.21		139,294		1.07	%		1.20	%	to	1.20	%		0.90	%	to	0.90	%
Mid Cap Value VCT - 2019		2,650		47.78	to		47.78		126,605		1.38	%		1.20	%	to	1.20	%		26.91	%	to	26.91	%
Real Estate Shares VCT - 2023 - January 1, 2023 to April 28, 2023		—		51.29	to		51.29		—		1.32	%		1.20	%	to	1.20	%		-1.40	%	to	-1.40	%
Real Estate Shares VCT - 2022		539		52.02	to		52.02		28,041		1.89	%		1.20	%	to	1.20	%		-31.67	%	to	-31.67	%
Real Estate Shares VCT - 2021		563		76.13	to		76.13		42,866		1.07	%		1.20	%	to	1.20	%		39.36	%	to	39.36	%
Real Estate Shares VCT - 2020		596		54.63	to		54.63		32,566		1.54	%		1.20	%	to	1.20	%		-8.46	%	to	-8.46	%
Real Estate Shares VCT - 2019		613		59.68	to		59.68		36,564		2.38	%		1.20	%	to	1.20	%		26.63	%	to	26.63	%
DWS
Bond - 2023		—		—	to		—		—		0.00	%		0.00	%	to	0.00	%		0.00	%	to	0.00	%
Bond - 2022		—		—	to		—		—		0.00	%		0.00	%	to	0.00	%		0.00	%	to	0.00	%
Bond - 2021 - January 1, 2021 to October 28, 2021		—		22.51	to		22.51		—		4.09	%		1.40	%	to	1.40	%		-1.44	%	to	-1.44	%
Bond - 2020		298		22.84	to		22.84		6,802		2.76	%		1.40	%	to	1.40	%		7.53	%	to	7.53	%
Bond - 2019		299		21.24	to		21.24		6,333		3.13	%		1.40	%	to	1.40	%		9.09	%	to	9.09	%
Global Opportunities - 2023		62		49.24	to		49.24		3,059		0.62	%		1.20	%	to	1.20	%		22.73	%	to	22.73	%
Global Opportunities - 2022		76		40.12	to		40.12		3,065		0.22	%		1.20	%	to	1.20	%		-25.14	%	to	-25.14	%
Global Opportunities - 2021		76		53.59	to		53.59		4,074		0.08	%		1.20	%	to	1.20	%		13.27	%	to	13.27	%
Global Opportunities - 2020		80		47.31	to		47.31		3,791		0.49	%		1.20	%	to	1.20	%		15.53	%	to	15.53	%
Global Opportunities - 2019		78		40.95	to		40.95		3,185		0.00	%		1.20	%	to	1.20	%		19.63	%	to	19.63	%
Core Equity VIP - 2023		282		48.67	to		48.67		13,747		0.56	%		1.20	%	to	1.20	%		23.65	%	to	23.65	%
Core Equity VIP - 2022		409		39.36	to		39.36		16,094		0.44	%		1.20	%	to	1.20	%		-16.72	%	to	-16.72	%
Core Equity VIP - 2021		474		47.26	to		47.26		22,407		0.37	%		1.20	%	to	1.20	%		23.43	%	to	23.43	%
Core Equity VIP - 2020		874		38.29	to		38.29		33,449		0.97	%		1.20	%	to	1.20	%		14.30	%	to	14.30	%
Core Equity VIP - 2019		896		33.50	to		33.50		30,015		0.83	%		1.20	%	to	1.20	%		28.35	%	to	28.35	%
International - 2023		1,813		20.42	to		20.42		37,011		3.07	%		1.20	%	to	1.20	%		17.56	%	to	17.56	%
International - 2022		2,162		17.37	to		17.37		37,559		3.04	%		1.20	%	to	1.20	%		-14.26	%	to	-14.26	%
International - 2021		2,362		20.26	to		20.26		47,843		2.47	%		1.20	%	to	1.20	%		7.94	%	to	7.94	%
International - 2020		2,446		18.77	to		18.77		45,909		3.28	%		1.20	%	to	1.20	%		1.40	%	to	1.40	%
International - 2019		2,681		18.51	to		18.51		49,632		3.02	%		1.20	%	to	1.20	%		20.27	%	to	20.27	%

- 18 -


	At December 31									For the years ended December 31****
	Units		Unit Value lowest to highest					Net Assets		Investment Income Ratio*			Expense Ratio lowest to highest**						Total Return lowest to highest***
DWS (cont’d)
Money Market - 2023		5,396	$	1.28	to	$	1.28	$	6,866		4.62	%		1.40	%	to	1.40	%		4.07	%	to	4.07	%
Money Market - 2022		5,401		1.23	to		1.23		6,655		1.11	%		1.40	%	to	1.40	%		-0.81	%	to	-0.81	%
Money Market - 2021 - October 28, 2021 to December 31, 2021		5,407		1.24	to		1.24		6,682		0.00	%		0.01		to	0.01			0.00	%	to	0.00	%
Money Market - 2020		—		—	to		—		—		—			—		to	—			—		to	—
Money Market - 2019		—		—	to		—		—		—			—		to	—			—		to	—
Small Cap Index VIP - 2023		163		37.38	to		37.38		6,111		1.07	%		1.20	%	to	1.20	%		15.37	%	to	15.37	%
Small Cap Index VIP - 2022		163		32.40	to		32.40		5,297		0.86	%		1.20	%	to	1.20	%		-21.59	%	to	-21.59	%
Small Cap Index VIP - 2021		163		41.32	to		41.32		6,755		0.88	%		1.20	%	to	1.20	%		13.11	%	to	13.11	%
Small Cap Index VIP - 2020		163		36.53	to		36.53		5,972		0.91	%		1.20	%	to	1.20	%		17.99	%	to	17.99	%
Small Cap Index VIP - 2019		163		30.96	to		30.96		5,061		1.07	%		1.20	%	to	1.20	%		23.74	%	to	23.74	%
T. Rowe Price
Equity Income - 2023		5,468		78.59	to		87.14		429,857		2.09	%		1.20	%	to	1.40	%		8.24	%	to	8.01	%
Equity Income - 2022		8,104		72.61	to		80.68		593,151		1.85	%		1.20	%	to	1.40	%		-4.69	%	to	-4.50	%
Equity Income - 2021		9,478		76.03	to		84.65		725,877		1.63	%		1.20	%	to	1.40	%		23.79	%	to	24.05	%
Equity Income - 2020		9,972		61.29	to		68.38		615,607		2.00	%		1.20	%	to	1.40	%		-0.23	%	to	-0.03	%
Equity Income - 2019		10,343		61.31	to		68.54		638,751		2.37	%		1.20	%	to	1.40	%		24.64	%	to	24.89	%
International Stock - 2023		5,286		27.94	to		27.94		147,691		0.98	%		1.20	%	to	1.20	%		14.84	%	to	14.84	%
International Stock - 2022		5,723		24.33	to		24.33		139,235		0.68	%		1.20	%	to	1.20	%		-16.82	%	to	-16.82	%
International Stock - 2021		7,775		29.25	to		29.25		227,398		0.61	%		1.20	%	to	1.20	%		0.10	%	to	0.10	%
International Stock - 2020		7,599		29.22	to		29.22		222,023		0.52	%		1.20	%	to	1.20	%		13.08	%	to	13.08	%
International Stock - 2019		8,003		25.84	to		25.84		206,792		2.36	%		1.20	%	to	1.20	%		26.23	%	to	26.23	%
Limited-Term Bond - 2023		2,364		17.59	to		17.59		41,582		3.06	%		1.20	%	to	1.20	%		3.65	%	to	3.65	%
Limited-Term Bond - 2022		2,919		16.97	to		16.97		49,524		1.89	%		1.20	%	to	1.20	%		-5.62	%	to	-5.62	%
Limited-Term Bond - 2021		3,390		17.98	to		17.98		60,969		1.37	%		1.20	%	to	1.20	%		-1.10	%	to	-1.10	%
Limited-Term Bond - 2020		3,238		18.18	to		18.18		58,863		1.59	%		1.20	%	to	1.20	%		3.47	%	to	3.47	%
Limited-Term Bond - 2019		4,769		17.57	to		17.57		83,796		2.13	%		1.20	%	to	1.20	%		3.11	%	to	3.11	%
New America Growth - 2023		1,237		130.20	to		140.83		163,199		0.21	%		1.20	%	to	1.40	%		27.43	%	to	27.16	%
New America Growth - 2022		1,844		102.17	to		110.75		194,715		0.00	%		1.20	%	to	1.40	%		-22.61	%	to	-22.45	%
New America Growth - 2021		1,932		131.75	to		143.10		263,067		0.00	%		1.20	%	to	1.40	%		19.11	%	to	19.35	%
New America Growth - 2020		2,008		110.39	to		120.14		263,067		0.00	%		1.20	%	to	1.40	%		42.35	%	to	42.64	%
New America Growth - 2019		2,242		77.39	to		84.40		178,999		0.41	%		1.20	%	to	1.40	%		33.04	%	to	33.32	%
Moderate Allocation - 2023		3,235		58.17	to		58.17		188,196		2.33	%		1.20	%	to	1.20	%		13.97	%	to	13.97	%
Moderate Allocation - 2022		4,191		51.04	to		51.04		213,916		1.46	%		1.20	%	to	1.20	%		-19.29	%	to	-19.29	%
Moderate Allocation - 2021		4,666		63.24	to		63.24		295,048		1.03	%		1.20	%	to	1.20	%		8.75	%	to	8.75	%
Moderate Allocation - 2020		5,172		58.15	to		58.15		300,758		1.24	%		1.20	%	to	1.20	%		13.15	%	to	13.15	%
Moderate Allocation - 2019		5,392		51.39	to		51.39		277,101		1.88	%		1.20	%	to	1.20	%		18.36	%	to	18.36	%
Morgan Stanley
VIF Emerging Markets Equity - 2023		860		25.47	to		25.47		21,900		1.55	%		1.20	%	to	1.20	%		10.59	%	to	10.59	%
VIF Emerging Markets Equity - 2022		846		23.03	to		23.03		19,472		0.52	%		1.20	%	to	1.20	%		-25.97	%	to	-25.97	%
VIF Emerging Markets Equity - 2021		1,353		31.11	to		31.11		42,079		0.82	%		1.20	%	to	1.20	%		1.77	%	to	1.77	%
VIF Emerging Markets Equity - 2020		1,319		30.57	to		30.57		40,315		1.25	%		1.20	%	to	1.20	%		13.05	%	to	13.05	%
VIF Emerging Markets Equity - 2019		1,345		27.04	to		27.04		36,374		1.03	%		1.20	%	to	1.20	%		18.18	%	to	18.18	%
VIF Core Plus Fixed Income - 2023 - January 1, 2023 to July 28, 2023		—		18.98	to		18.98		—		8.65	%		1.20	%	to	1.20	%		1.93	%	to	1.93	%
VIF Core Plus Fixed Income - 2022		4,006		18.62	to		18.62		74,585		4.78	%		1.20	%	to	1.20	%		-15.36	%	to	-15.36	%
VIF Core Plus Fixed Income - 2021		6,740		22.00	to		22.00		148,251		4.10	%		1.20	%	to	1.20	%		-1.48	%	to	-1.48	%
VIF Core Plus Fixed Income - 2020		5,654		22.33	to		22.33		126,294		2.78	%		1.20	%	to	1.20	%		6.49	%	to	6.49	%
VIF Core Plus Fixed Income - 2019		5,671		20.97	to		20.97		118,928		3.16	%		1.20	%	to	1.20	%		9.56	%	to	9.56	%

These ratios represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying portfolio, net of management fees assessed by the portfolio manager, divided by the average net assets. These ratios exclude those expenses that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the distribution of dividends by the underlying portfolio in which the subaccount invests.

These ratios represent the annualized contract expenses of the Separate Account for each year indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying portfolio are excluded.

***

These ratios represent the total return for the period indicated, including changes in the value of the underlying portfolio, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the Separate Account. The total return is calculated for each year indicated or from the effective date through the end of the reporting year or liquidation date.

****	Funds listed with date ranges represent partial year investments in funds. Unit values displayed represent unit value at disposition value.

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