Separate Account VA AA

FINANCIAL STATEMENTS

Transamerica Life Insurance Company

Separate Account VA AA

Years Ended December 31, 2023 and 2022

Transamerica Life Insurance Company

Separate Account VA AA

Financial Statements

Years Ended December 31, 2023 and 2022

Contents


Report of Independent Registered Public Accounting Firm		1

Financial Statements

Statements of Assets and Liabilities		2
Statements of Operations and Changes in Net Assets		6
Notes to Financial Statements		20

Report of Independent Registered Public Accounting Firm

To the Board of Directors of Transamerica Life Insurance Company and the Contract Owners of Separate Account VA AA

Opinions on the Financial Statements

We have audited the accompanying statements of assets and liabilities of each of the subaccounts of Separate Account VA AA indicated in the table below as of December 31, 2023, and the related statements of operations and 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 subaccounts of Separate Account VA AA as of December 31, 2023, and the results of each of their operations 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.


AB Balanced Hedged Allocation Class B Shares		ProFund VP UltraSmall-Cap
Fidelity^® VIP Index 500 Service Class 2		ProFund VP Utilities
Franklin Allocation Class 4 Shares		TA Aegon Bond Service Class
ProFund Access VP High Yield		TA Aegon Core Bond Service Class
ProFund VP Asia 30		TA Aegon High Yield Bond Service Class
ProFund VP Bull		TA Aegon Sustainable Equity Income Service Class
ProFund VP Communication Services		TA Aegon U.S. Government Securities Service Class
ProFund VP Consumer Discretionary		TA BlackRock Government Money Market Service Class
ProFund VP Emerging Markets		TA BlackRock iShares Active Asset Allocation - Conservative Service Class
ProFund VP Energy		TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class
ProFund VP Europe 30		TA BlackRock iShares Edge 40 Service Class
ProFund VP Falling U.S. Dollar		TA BlackRock Real Estate Securities Service Class
ProFund VP Financials		TA BlackRock Tactical Allocation Service Class
ProFund VP Government Money Market		TA Goldman Sachs Managed Risk - Balanced ETF Initial Class
ProFund VP International		TA Goldman Sachs Managed Risk - Growth ETF Initial Class
ProFund VP Japan		TA Goldman Sachs Managed Risk - Growth ETF Service Class
ProFund VP Materials		TA International Focus Service Class
ProFund VP Mid-Cap		TA Janus Balanced Service Class
ProFund VP NASDAQ-100		TA Janus Mid-Cap Growth Service Class
ProFund VP Pharmaceuticals		TA JPMorgan Enhanced Index Service Class
ProFund VP Precious Metals		TA JPMorgan Tactical Allocation Service Class
ProFund VP Short Emerging Markets		TA Multi-Managed Balanced Service Class
ProFund VP Short International		TA PIMCO Tactical - Balanced Service Class


ProFund VP Short NASDAQ-100		TA PIMCO Tactical - Conservative Service Class
ProFund VP Short Small-Cap		TA PIMCO Tactical - Growth Service Class
ProFund VP Small-Cap		TA Small/Mid Cap Value Service Class
ProFund VP Small-Cap Value		TA T. Rowe Price Small Cap Service Class
ProFund VP U.S. Government Plus		TA WMC US Growth Service Class

Basis for Opinions

These financial statements are the responsibility of the Transamerica Life Insurance Company management. Our responsibility is to express an opinion on the financial statements of each of the subaccounts of Separate Account VA AA 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 subaccounts of Separate Account VA AA 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 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 custodian, the transfer agent, or the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Chicago, Illinois

April 19, 2024

We have served as the auditor of one or more of the subaccounts of Separate Account VA AA since 2014.

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Assets and Liabilities

December 31, 2023


Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account		Net Assets		Units Outstanding		Range of Unit Values
AB Balanced Hedged Allocation Class B Shares		-	$	-	$	-	$	-	$	-		-	$	2.485893	$	12.473949
Fidelity^® VIP Index 500 Service Class 2		-		-		-		-		-		-		3.545941		20.558651
Franklin Allocation Class 4 Shares		-		-		-		-		-		-		2.698975		12.530198
ProFund Access VP High Yield		2,322.306		55,951		57,477		-		57,477		27,584		1.954049		10.506879
ProFund VP Asia 30		-		-		-		-		-		-		0.663547		10.314918
ProFund VP Bull		1,083.986		55,757		54,774		(3)		54,771		18,711		2.744871		18.365443
ProFund VP Communication Services		-		-		-		-		-		-		1.340590		10.540367
ProFund VP Consumer Discretionary		-		-		-		-		-		-		3.670772		16.586825
ProFund VP Emerging Markets		0.128		2		4		(4)		-		-		0.708078		12.162598
ProFund VP Energy		-		-		-		-		-		-		1.091298		11.367540
ProFund VP Europe 30		-		-		-		-		-		-		1.058280		12.938013
ProFund VP Falling U.S. Dollar		-		-		-		-		-		-		0.529341		8.005339
ProFund VP Financials		-		-		-		-		-		-		1.497858		14.801936
ProFund VP Government Money Market		144.533		145		145		(145)		-		-		0.943875		9.440500
ProFund VP International		-		-		-		-		-		-		0.863245		11.740701
ProFund VP Japan		-		-		-		-		-		-		1.438787		15.753388
ProFund VP Materials		-		-		-		-		-		-		1.743030		15.414360
ProFund VP Mid-Cap		483.033		8,063		8,071		(4)		8,067		3,172		2.384408		13.887646
ProFund VP NASDAQ-100		531.066		24,955		30,733		-		30,733		5,046		5.711300		27.893387
ProFund VP Pharmaceuticals		-		-		-		-		-		-		2.162348		11.407699
ProFund VP Precious Metals		-		-		-		-		-		-		0.464534		11.547852
ProFund VP Short Emerging Markets		-		-		-		-		-		-		0.201170		4.121194
ProFund VP Short International		-		-		-		-		-		-		0.249444		4.955634
ProFund VP Short NASDAQ-100		-		-		-		-		-		-		0.042238		1.837447
ProFund VP Short Small-Cap		-		-		-		-		-		-		0.085981		3.931723
ProFund VP Small-Cap		253.386		8,486		8,691		3		8,694		4,016		2.029953		12.439183
ProFund VP Small-Cap Value		678.957		29,005		29,168		-		29,168		11,731		2.331629		12.797641
ProFund VP U.S. Government Plus		0.253		6		3		(3)		-		-		1.221245		7.064976
ProFund VP UltraSmall-Cap		-		-		-		-		-		-		1.751580		11.298605
ProFund VP Utilities		-		-		-		-		-		-		1.866571		12.710962
TA Aegon Bond Service Class		843.988		8,069		8,094		-		8,094		5,563		1.364360		9.522407
TA Aegon Core Bond Service Class		-		-		-		-		-		-		1.419260		9.642808
TA Aegon High Yield Bond Service Class		-		-		-		-		-		-		2.028221		11.427454
TA Aegon Sustainable Equity Income Service Class		-		-		-		-		-		-		1.693288		11.629299
TA Aegon U.S. Government Securities Service Class		-		-		-		-		-		-		1.223614		9.183201
TA BlackRock Government Money Market Service Class		464,398.360		464,398		464,398		37		464,435		444,161		0.980095		9.668678
TA BlackRock iShares Active Asset Allocation - Conservative Service Class		-		-		-		-		-		-		1.367048		11.141431
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		-		-		-		-		-		-		1.449389		11.170046
TA BlackRock iShares Edge 40 Service Class		-		-		-		-		-		-		1.203276		11.458162
TA BlackRock Real Estate Securities Service Class		0.204		2		2		(2)		-		-		1.182244		11.027707


See accompanying notes.		2

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Assets and Liabilities

December 31, 2023


Subaccount	Number of Shares		Cost		Assets at Market Value		Due (to)/from General Account			Net Assets		Units Outstanding		Range of Unit Values
TA BlackRock Tactical Allocation Service Class		-	$	-	$	-	$	-		$	-		-	$	1.478971	$	12.894809
TA Goldman Sachs Managed Risk - Balanced ETF Initial Class		-		-		-		-			-		-		1.750816		12.363978
TA Goldman Sachs Managed Risk - Growth ETF Initial Class		-		-		-		-			-		-		2.001127		13.971944
TA Goldman Sachs Managed Risk - Growth ETF Service Class		-		-		-		-			-		-		1.655203		13.724078
TA International Focus Service Class		-		-		-		-			-		-		1.522333		13.911764
TA Janus Balanced Service Class		-		-		-		-			-		-		2.176644		15.721002
TA Janus Mid-Cap Growth Service Class		2,137.462		61,025		59,357		(2	)		59,355		19,549		2.847182		20.314595
TA JPMorgan Enhanced Index Service Class		-		-		-		-			-		-		3.574232		20.861916
TA JPMorgan Tactical Allocation Service Class		-		-		-		-			-		-		1.434331		11.209190
TA Multi-Managed Balanced Service Class		-		-		-		-			-		-		2.609166		15.579883
TA PIMCO Tactical - Balanced Service Class		-		-		-		-			-		-		1.359612		11.314808
TA PIMCO Tactical - Conservative Service Class		-		-		-		-			-		-		1.263307		11.009489
TA PIMCO Tactical - Growth Service Class		-		-		-		-			-		-		1.447359		12.591605
TA Small/Mid Cap Value Service Class		448.269		8,060		8,136		(3	)		8,133		2,607		2.925320		15.037039
TA T. Rowe Price Small Cap Service Class		0.373		5		4		(4	)		-		-		3.773075		16.643662
TA WMC US Growth Service Class		902.076		25,965		30,671		(1	)		30,670		8,333		3.451460		25.062305


See accompanying notes.		3

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Assets and Liabilities

December 31, 2023


Subaccount	Net Assets Representing: Accumulation Units		Net Assets Representing: Contracts in Payout (Annuitization) Period		Total Net Assets

AB Balanced Hedged Allocation Class B Shares	$	-	$	-	$	-
Fidelity^® VIP Index 500 Service Class 2		-		-		-
Franklin Allocation Class 4 Shares		-		-		-
ProFund Access VP High Yield		57,477		-		57,477
ProFund VP Asia 30		-		-		-
ProFund VP Bull		54,771		-		54,771
ProFund VP Communication Services		-		-		-
ProFund VP Consumer Discretionary		-		-		-
ProFund VP Emerging Markets		-		-		-
ProFund VP Energy		-		-		-
ProFund VP Europe 30		-		-		-
ProFund VP Falling U.S. Dollar		-		-		-
ProFund VP Financials		-		-		-
ProFund VP Government Money Market		-		-		-
ProFund VP International		-		-		-
ProFund VP Japan		-		-		-
ProFund VP Materials		-		-		-
ProFund VP Mid-Cap		8,067		-		8,067
ProFund VP NASDAQ-100		30,733		-		30,733
ProFund VP Pharmaceuticals		-		-		-
ProFund VP Precious Metals		-		-		-
ProFund VP Short Emerging Markets		-		-		-
ProFund VP Short International		-		-		-
ProFund VP Short NASDAQ-100		-		-		-
ProFund VP Short Small-Cap		-		-		-
ProFund VP Small-Cap		8,694		-		8,694
ProFund VP Small-Cap Value		29,168		-		29,168
ProFund VP U.S. Government Plus		-		-		-
ProFund VP UltraSmall-Cap		-		-		-
ProFund VP Utilities		-		-		-
TA Aegon Bond Service Class		8,094		-		8,094
TA Aegon Core Bond Service Class		-		-		-
TA Aegon High Yield Bond Service Class		-		-		-
TA Aegon Sustainable Equity Income Service Class		-		-		-
TA Aegon U.S. Government Securities Service Class		-		-		-
TA BlackRock Government Money Market Service Class		464,435		-		464,435
TA BlackRock iShares Active Asset Allocation - Conservative Service Class		-		-		-
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		-		-		-
TA BlackRock iShares Edge 40 Service Class		-		-		-
TA BlackRock Real Estate Securities Service Class		-		-		-
TA BlackRock Tactical Allocation Service Class		-		-		-


See accompanying notes.		4

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Assets and Liabilities

December 31, 2023


Subaccount	Net Assets Representing: Accumulation Units		Net Assets Representing: Contracts in Payout (Annuitization) Period		Total Net Assets

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class	$	-	$	-	$	-
TA Goldman Sachs Managed Risk - Growth ETF Initial Class		-		-		-
TA Goldman Sachs Managed Risk - Growth ETF Service Class		-		-		-
TA International Focus Service Class		-		-		-
TA Janus Balanced Service Class		-		-		-
TA Janus Mid-Cap Growth Service Class		59,355		-		59,355
TA JPMorgan Enhanced Index Service Class		-		-		-
TA JPMorgan Tactical Allocation Service Class		-		-		-
TA Multi-Managed Balanced Service Class		-		-		-
TA PIMCO Tactical - Balanced Service Class		-		-		-
TA PIMCO Tactical - Conservative Service Class		-		-		-
TA PIMCO Tactical - Growth Service Class		-		-		-
TA Small/Mid Cap Value Service Class		8,133		-		8,133
TA T. Rowe Price Small Cap Service Class		-		-		-
TA WMC US Growth Service Class		30,670		-		30,670


See accompanying notes.		5

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	AB Balanced Hedged Allocation Class B Shares Subaccount		Fidelity^® VIP Index 500 Service Class 2 Subaccount		Franklin Allocation Class 4 Shares Subaccount		ProFund Access VP High Yield Subaccount

Net Assets as of December 31, 2021:	$	-	$	-	$	-	$	-


Investment Income:
Reinvested Dividends		-		-		-		1,808
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		-		-		100

Net Investment Income (Loss)		-		-		-		1,708

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-		-		-
Realized Gain (Loss) on Investments		-		-		-		(2,141)

Net Realized Capital Gains (Losses) on Investments		-		-		-		(2,141)
Net Change in Unrealized Appreciation (Depreciation)		-		-		-		(2,337)

Net Gain (Loss) on Investment		-		-		-		(4,478)

Net Increase (Decrease) in Net Assets Resulting from Operations		-		-		-		(2,770)


Increase (Decrease) in Net Assets from Contract Transactions		-		-		-		57,322


Total Increase (Decrease) in Net Assets		-		-		-		54,552


Net Assets as of December 31, 2022:	$	-	$	-	$	-	$	54,552


Investment Income:
Reinvested Dividends		-		-		-		1,961
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		-		-		158

Net Investment Income (Loss)		-		-		-		1,803

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-		-		-
Realized Gain (Loss) on Investments		-		-		-		(2,496)

Net Realized Capital Gains (Losses) on Investments		-		-		-		(2,496)
Net Change in Unrealized Appreciation (Depreciation)		-		-		-		3,863

Net Gain (Loss) on Investment		-		-		-		1,367

Net Increase (Decrease) in Net Assets Resulting from Operations		-		-		-		3,170


Increase (Decrease) in Net Assets from Contract Transactions		-		-		-		(245)


Total Increase (Decrease) in Net Assets		-		-		-		2,925


Net Assets as of December 31, 2023:	$	-	$	-	$	-	$	57,477

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Asia 30 Subaccount			ProFund VP Bull Subaccount			ProFund VP Communication Services Subaccount		ProFund VP Consumer Discretionary Subaccount

Net Assets as of December 31, 2021:	$	-		$	55,644		$	-	$	-


Investment Income:
Reinvested Dividends		-			-			-		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		4			213			-		-

Net Investment Income (Loss)		(4	)		(213	)		-		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			6,405			-		-
Realized Gain (Loss) on Investments		(854	)		12			-		-

Net Realized Capital Gains (Losses) on Investments		(854	)		6,417			-		-
Net Change in Unrealized Appreciation (Depreciation)		(384	)		(17,384	)		-		-

Net Gain (Loss) on Investment		(1,238	)		(10,967	)		-		-

Net Increase (Decrease) in Net Assets Resulting from Operations		(1,242	)		(11,180	)		-		-


Increase (Decrease) in Net Assets from Contract Transactions		12,336			(2	)		-		-


Total Increase (Decrease) in Net Assets		11,094			(11,182	)		-		-


Net Assets as of December 31, 2022:	$	11,094		$	44,462		$	-	$	-


Investment Income:
Reinvested Dividends		-			-			-		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		19			221			-		-

Net Investment Income (Loss)		(19	)		(221	)		-		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			8,484			-		-
Realized Gain (Loss) on Investments		(271	)		(9	)		-		-

Net Realized Capital Gains (Losses) on Investments		(271	)		8,475			-		-
Net Change in Unrealized Appreciation (Depreciation)		385			2,057			-		-

Net Gain (Loss) on Investment		114			10,532			-		-

Net Increase (Decrease) in Net Assets Resulting from Operations		95			10,311			-		-


Increase (Decrease) in Net Assets from Contract Transactions		(11,189	)		(2	)		-		-


Total Increase (Decrease) in Net Assets		(11,094	)		10,309			-		-


Net Assets as of December 31, 2023:	$	-		$	54,771		$	-	$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Emerging Markets Subaccount			ProFund VP Energy Subaccount		ProFund VP Europe 30 Subaccount			ProFund VP Falling U.S. Dollar Subaccount

Net Assets as of December 31, 2021:	$	3,630		$	-	$	-		$	-


Investment Income:
Reinvested Dividends		20			-		71			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		19			-		15			-

Net Investment Income (Loss)		1			-		56			-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-		210			-
Realized Gain (Loss) on Investments		(2,246	)		-		(772	)		-

Net Realized Capital Gains (Losses) on Investments		(2,246	)		-		(562	)		-
Net Change in Unrealized Appreciation (Depreciation)		1,189			-		-			-

Net Gain (Loss) on Investment		(1,057	)		-		(562	)		-

Net Increase (Decrease) in Net Assets Resulting from Operations		(1,056	)		-		(506	)		-


Increase (Decrease) in Net Assets from Contract Transactions		10,308			-		506			-


Total Increase (Decrease) in Net Assets		9,252			-		-			-


Net Assets as of December 31, 2022:	$	12,882		$	-	$	-		$	-


Investment Income:
Reinvested Dividends		-			-		-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		20			-		27			-

Net Investment Income (Loss)		(20	)		-		(27	)		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-		-			-
Realized Gain (Loss) on Investments		1,194			-		425			-

Net Realized Capital Gains (Losses) on Investments		1,194			-		425			-
Net Change in Unrealized Appreciation (Depreciation)		31			-		-			-

Net Gain (Loss) on Investment		1,225			-		425			-

Net Increase (Decrease) in Net Assets Resulting from Operations		1,205			-		398			-


Increase (Decrease) in Net Assets from Contract Transactions		(14,087	)		-		(398	)		-


Total Increase (Decrease) in Net Assets		(12,882	)		-		-			-


Net Assets as of December 31, 2023:	$	-		$	-	$	-		$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Financials Subaccount		ProFund VP Government Money Market Subaccount			ProFund VP International Subaccount			ProFund VP Japan Subaccount

Net Assets as of December 31, 2021:	$	-	$	58,106		$	-		$	-


Investment Income:
Reinvested Dividends		-		43			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		150			6			22

Net Investment Income (Loss)		-		(107	)		(6	)		(22	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-			-			325
Realized Gain (Loss) on Investments		-		-			-			(599	)

Net Realized Capital Gains (Losses) on Investments		-		-			-			(274	)
Net Change in Unrealized Appreciation (Depreciation)		-		-			(195	)		(1,266	)

Net Gain (Loss) on Investment		-		-			(195	)		(1,540	)

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(107	)		(201	)		(1,562	)


Increase (Decrease) in Net Assets from Contract Transactions		-		(57,999	)		24,484			25,529


Total Increase (Decrease) in Net Assets		-		(58,106	)		24,283			23,967


Net Assets as of December 31, 2022:	$	-	$	-		$	24,283		$	23,967


Investment Income:
Reinvested Dividends		-		749			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		80			50			36

Net Investment Income (Loss)		-		669			(50	)		(36	)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-			-			-
Realized Gain (Loss) on Investments		-		-			1,458			1,716

Net Realized Capital Gains (Losses) on Investments		-		-			1,458			1,716
Net Change in Unrealized Appreciation (Depreciation)		-		-			195			1,266

Net Gain (Loss) on Investment		-		-			1,653			2,982

Net Increase (Decrease) in Net Assets Resulting from Operations		-		669			1,603			2,946


Increase (Decrease) in Net Assets from Contract Transactions		-		(669	)		(25,886	)		(26,913	)


Total Increase (Decrease) in Net Assets		-		-			(24,283	)		(23,967	)


Net Assets as of December 31, 2023:	$	-	$	-		$	-		$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Materials Subaccount		ProFund VP Mid-Cap Subaccount			ProFund VP NASDAQ-100 Subaccount			ProFund VP Pharmaceuticals Subaccount

Net Assets as of December 31, 2021:	$	-	$	34,421		$	65,800		$	-


Investment Income:
Reinvested Dividends		-		-			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		69			20			-

Net Investment Income (Loss)		-		(69	)		(20	)		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		3,352			-			-
Realized Gain (Loss) on Investments		-		(7,398	)		(3,640	)		-

Net Realized Capital Gains (Losses) on Investments		-		(4,046	)		(3,640	)		-
Net Change in Unrealized Appreciation (Depreciation)		-		(875	)		(5,176	)		-

Net Gain (Loss) on Investment		-		(4,921	)		(8,816	)		-

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(4,990	)		(8,836	)		-


Increase (Decrease) in Net Assets from Contract Transactions		-		(23,700	)		(56,964	)		-


Total Increase (Decrease) in Net Assets		-		(28,690	)		(65,800	)		-


Net Assets as of December 31, 2022:	$	-	$	5,731		$	-		$	-


Investment Income:
Reinvested Dividends		-		-			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		11			91			-

Net Investment Income (Loss)		-		(11	)		(91	)		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-			144			-
Realized Gain (Loss) on Investments		-		(758	)		1,091			-

Net Realized Capital Gains (Losses) on Investments		-		(758	)		1,235			-
Net Change in Unrealized Appreciation (Depreciation)		-		307			5,778			-

Net Gain (Loss) on Investment		-		(451	)		7,013			-

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(462	)		6,922			-


Increase (Decrease) in Net Assets from Contract Transactions		-		2,798			23,811			-


Total Increase (Decrease) in Net Assets		-		2,336			30,733			-


Net Assets as of December 31, 2023:	$	-	$	8,067		$	30,733		$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

ProFund VP Precious Metals

Subaccount

ProFund VP Short Emerging

Markets
Subaccount

ProFund VP Short International

Subaccount

ProFund VP Short NASDAQ-100

Subaccount

Net Assets as of December 31, 2021:

Investment Income:

Reinvested Dividends

Investment Expense:

Mortality and Expense Risk and Administrative Charges

Net Investment Income (Loss)

Increase (Decrease) in Net Assets from Operations:

Capital Gain Distributions

Realized Gain (Loss) on Investments

Net Realized Capital Gains (Losses) on Investments

Net Change in Unrealized Appreciation (Depreciation)

Net Gain (Loss) on Investment

Net Increase (Decrease) in Net Assets Resulting from Operations

Increase (Decrease) in Net Assets from Contract Transactions

Total Increase (Decrease) in Net Assets

Net Assets as of December 31, 2022:

Investment Income:

Reinvested Dividends

Investment Expense:

Mortality and Expense Risk and Administrative Charges

Net Investment Income (Loss)

Increase (Decrease) in Net Assets from Operations:

Capital Gain Distributions

Realized Gain (Loss) on Investments

Net Realized Capital Gains (Losses) on Investments

Net Change in Unrealized Appreciation (Depreciation)

Net Gain (Loss) on Investment

Net Increase (Decrease) in Net Assets Resulting from Operations

Increase (Decrease) in Net Assets from Contract Transactions

Total Increase (Decrease) in Net Assets

Net Assets as of December 31, 2023:

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP Short Small-Cap Subaccount		ProFund VP Small-Cap Subaccount			ProFund VP Small-Cap Value Subaccount			ProFund VP U.S. Government Plus Subaccount

Net Assets as of December 31, 2021:	$	-	$	9,768		$	-		$	-


Investment Income:
Reinvested Dividends		-		-			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		37			95			-

Net Investment Income (Loss)		-		(37	)		(95	)		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		929			3,842			-
Realized Gain (Loss) on Investments		-		1			(4,901	)		-

Net Realized Capital Gains (Losses) on Investments		-		930			(1,059	)		-
Net Change in Unrealized Appreciation (Depreciation)		-		(3,060	)		-			(2)

Net Gain (Loss) on Investment		-		(2,130	)		(1,059	)		(2)

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(2,167	)		(1,154	)		(2)


Increase (Decrease) in Net Assets from Contract Transactions		-		(1	)		1,154			2


Total Increase (Decrease) in Net Assets		-		(2,168	)		-			-


Net Assets as of December 31, 2022:	$	-	$	7,600		$	-		$	-


Investment Income:
Reinvested Dividends		-		-			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		35			3			-

Net Investment Income (Loss)		-		(35	)		(3	)		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-			-			-
Realized Gain (Loss) on Investments		-		(1	)		-			-

Net Realized Capital Gains (Losses) on Investments		-		(1	)		-			-
Net Change in Unrealized Appreciation (Depreciation)		-		1,131			163			-

Net Gain (Loss) on Investment		-		1,130			163			-

Net Increase (Decrease) in Net Assets Resulting from Operations		-		1,095			160			-


Increase (Decrease) in Net Assets from Contract Transactions		-		(1	)		29,008			-


Total Increase (Decrease) in Net Assets		-		1,094			29,168			-


Net Assets as of December 31, 2023:	$	-	$	8,694		$	29,168		$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	ProFund VP UltraSmall-Cap Subaccount		ProFund VP Utilities Subaccount		TA Aegon Bond Service Class Subaccount			TA Aegon Core Bond Service Class Subaccount

Net Assets as of December 31, 2021:	$	-	$	-	$	72,255		$	-


Investment Income:
Reinvested Dividends		-		-		877			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		-		159			-

Net Investment Income (Loss)		-		-		718			-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-		-			-
Realized Gain (Loss) on Investments		-		-		(5,443	)		-

Net Realized Capital Gains (Losses) on Investments		-		-		(5,443	)		-
Net Change in Unrealized Appreciation (Depreciation)		-		-		482			-

Net Gain (Loss) on Investment		-		-		(4,961	)		-

Net Increase (Decrease) in Net Assets Resulting from Operations		-		-		(4,243	)		-


Increase (Decrease) in Net Assets from Contract Transactions		-		-		(46,631	)		-


Total Increase (Decrease) in Net Assets		-		-		(50,874	)		-


Net Assets as of December 31, 2022:	$	-	$	-	$	21,381		$	-


Investment Income:
Reinvested Dividends		-		-		49			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		-		82			11

Net Investment Income (Loss)		-		-		(33	)		(11)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-		-			-
Realized Gain (Loss) on Investments		-		-		1,589			(306)

Net Realized Capital Gains (Losses) on Investments		-		-		1,589			(306)
Net Change in Unrealized Appreciation (Depreciation)		-		-		(470	)		-

Net Gain (Loss) on Investment		-		-		1,119			(306)

Net Increase (Decrease) in Net Assets Resulting from Operations		-		-		1,086			(317)


Increase (Decrease) in Net Assets from Contract Transactions		-		-		(14,373	)		317


Total Increase (Decrease) in Net Assets		-		-		(13,287	)		-


Net Assets as of December 31, 2023:	$	-	$	-	$	8,094		$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA Aegon High Yield Bond Service Class Subaccount			TA Aegon Sustainable Equity Income Service Class Subaccount			TA Aegon U.S. Government Securities Service Class Subaccount		TA BlackRock Government Money Market Service Class Subaccount

Net Assets as of December 31, 2021:	$	6,846		$	48,908		$	-	$	441,520


Investment Income:
Reinvested Dividends		344			203			-		6,181
Investment Expense:
Mortality and Expense Risk and Administrative Charges		29			107			-		1,977

Net Investment Income (Loss)		315			96			-		4,204

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			384			-		-
Realized Gain (Loss) on Investments		(1,138	)		(4,863	)		-		-

Net Realized Capital Gains (Losses) on Investments		(1,138	)		(4,479	)		-		-
Net Change in Unrealized Appreciation (Depreciation)		58			(725	)		-		-

Net Gain (Loss) on Investment		(1,080	)		(5,204	)		-		-

Net Increase (Decrease) in Net Assets Resulting from Operations		(765	)		(5,108	)		-		4,204


Increase (Decrease) in Net Assets from Contract Transactions		(6,081	)		(25,158	)		-		2


Total Increase (Decrease) in Net Assets		(6,846	)		(30,266	)		-		4,206


Net Assets as of December 31, 2022:	$	-		$	18,642		$	-	$	445,726


Investment Income:
Reinvested Dividends		-			413			-		20,736
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-			28			-		2,031

Net Investment Income (Loss)		-			385			-		18,705

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-		-
Realized Gain (Loss) on Investments		12			(336	)		-		-

Net Realized Capital Gains (Losses) on Investments		12			(336	)		-		-
Net Change in Unrealized Appreciation (Depreciation)		-			(19	)		-		-

Net Gain (Loss) on Investment		12			(355	)		-		-

Net Increase (Decrease) in Net Assets Resulting from Operations		12			30			-		18,705


Increase (Decrease) in Net Assets from Contract Transactions		(12	)		(18,672	)		-		4


Total Increase (Decrease) in Net Assets		-			(18,642	)		-		18,709


Net Assets as of December 31, 2023:	$	-		$	-		$	-	$	464,435

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA BlackRock iShares Active Asset Allocation - Conservative Service Class Subaccount		TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class Subaccount		TA BlackRock iShares Edge 40 Service Class Subaccount		TA BlackRock Real Estate Securities Service Class Subaccount

Net Assets as of December 31, 2021:	$	-	$	-	$	-	$	7,681


Investment Income:
Reinvested Dividends		-		-		-		185
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		-		-		29

Net Investment Income (Loss)		-		-		-		156

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-		-		-
Realized Gain (Loss) on Investments		-		-		-		(1,273)

Net Realized Capital Gains (Losses) on Investments		-		-		-		(1,273)
Net Change in Unrealized Appreciation (Depreciation)		-		-		-		(1,044)

Net Gain (Loss) on Investment		-		-		-		(2,317)

Net Increase (Decrease) in Net Assets Resulting from Operations		-		-		-		(2,161)


Increase (Decrease) in Net Assets from Contract Transactions		-		-		-		(5,520)


Total Increase (Decrease) in Net Assets		-		-		-		(7,681)


Net Assets as of December 31, 2022:	$	-	$	-	$	-	$	-


Investment Income:
Reinvested Dividends		-		-		-		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		-		-		-

Net Investment Income (Loss)		-		-		-		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-		-		-
Realized Gain (Loss) on Investments		-		-		-		-

Net Realized Capital Gains (Losses) on Investments		-		-		-		-
Net Change in Unrealized Appreciation (Depreciation)		-		-		-		-

Net Gain (Loss) on Investment		-		-		-		-

Net Increase (Decrease) in Net Assets Resulting from Operations		-		-		-		-


Increase (Decrease) in Net Assets from Contract Transactions		-		-		-		-


Total Increase (Decrease) in Net Assets		-		-		-		-


Net Assets as of December 31, 2023:	$	-	$	-	$	-	$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022

TA BlackRock Tactical Allocation
Service Class
Subaccount

TA Goldman Sachs Managed Risk -
Balanced ETF Initial Class
Subaccount

TA Goldman Sachs Managed Risk -
Growth ETF Initial Class
Subaccount

TA Goldman Sachs Managed Risk -
Growth ETF Service Class
Subaccount

Net Assets as of December 31, 2021:

Investment Income:

Reinvested Dividends

Investment Expense:

Mortality and Expense Risk and Administrative Charges

Net Investment Income (Loss)

Increase (Decrease) in Net Assets from Operations:

Capital Gain Distributions

Realized Gain (Loss) on Investments

Net Realized Capital Gains (Losses) on Investments

Net Change in Unrealized Appreciation (Depreciation)

Net Gain (Loss) on Investment

Net Increase (Decrease) in Net Assets Resulting from Operations

Increase (Decrease) in Net Assets from Contract Transactions

Total Increase (Decrease) in Net Assets

Net Assets as of December 31, 2022:

Investment Income:

Reinvested Dividends

Investment Expense:

Mortality and Expense Risk and Administrative Charges

Net Investment Income (Loss)

Increase (Decrease) in Net Assets from Operations:

Capital Gain Distributions

Realized Gain (Loss) on Investments

Net Realized Capital Gains (Losses) on Investments

Net Change in Unrealized Appreciation (Depreciation)

Net Gain (Loss) on Investment

Net Increase (Decrease) in Net Assets Resulting from Operations

Increase (Decrease) in Net Assets from Contract Transactions

Total Increase (Decrease) in Net Assets

Net Assets as of December 31, 2023:

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA International Focus Service Class Subaccount			TA Janus Balanced Service Class Subaccount		TA Janus Mid-Cap Growth Service Class Subaccount			TA JPMorgan Enhanced Index Service Class Subaccount

Net Assets as of December 31, 2021:	$	5,489		$	-	$	46,856		$	-


Investment Income:
Reinvested Dividends		125			-		-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		20			-		59			-

Net Investment Income (Loss)		105			-		(59	)		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		243			-		1,760			-
Realized Gain (Loss) on Investments		721			-		(2,632	)		-

Net Realized Capital Gains (Losses) on Investments		964			-		(872	)		-
Net Change in Unrealized Appreciation (Depreciation)		(2,218	)		-		(4,536	)		-

Net Gain (Loss) on Investment		(1,254	)		-		(5,408	)		-

Net Increase (Decrease) in Net Assets Resulting from Operations		(1,149	)		-		(5,467	)		-


Increase (Decrease) in Net Assets from Contract Transactions		(4,340	)		-		(30,986	)		-


Total Increase (Decrease) in Net Assets		(5,489	)		-		(36,453	)		-


Net Assets as of December 31, 2022:	$	-		$	-	$	10,403		$	-


Investment Income:
Reinvested Dividends		-			-		-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-			-		184			-

Net Investment Income (Loss)		-			-		(184	)		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-		7,541			-
Realized Gain (Loss) on Investments		-			-		(4,223	)		-

Net Realized Capital Gains (Losses) on Investments		-			-		3,318			-
Net Change in Unrealized Appreciation (Depreciation)		-			-		2,019			-

Net Gain (Loss) on Investment		-			-		5,337			-

Net Increase (Decrease) in Net Assets Resulting from Operations		-			-		5,153			-


Increase (Decrease) in Net Assets from Contract Transactions		-			-		43,799			-


Total Increase (Decrease) in Net Assets		-			-		48,952			-


Net Assets as of December 31, 2023:	$	-		$	-	$	59,355		$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA JPMorgan Tactical Allocation Service Class Subaccount			TA Multi-Managed Balanced Service Class Subaccount			TA PIMCO Tactical - Balanced Service Class Subaccount		TA PIMCO Tactical - Conservative Service Class Subaccount

Net Assets as of December 31, 2021:	$	50,588		$	34,648		$	-	$	-


Investment Income:
Reinvested Dividends		184			283			-		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		108			139			-		-

Net Investment Income (Loss)		76			144			-		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		1,251			3,723			-		-
Realized Gain (Loss) on Investments		(4,745	)		85			-		-

Net Realized Capital Gains (Losses) on Investments		(3,494	)		3,808			-		-
Net Change in Unrealized Appreciation (Depreciation)		(1,557	)		(9,208	)		-		-

Net Gain (Loss) on Investment		(5,051	)		(5,400	)		-		-

Net Increase (Decrease) in Net Assets Resulting from Operations		(4,975	)		(5,256	)		-		-


Increase (Decrease) in Net Assets from Contract Transactions		(27,036	)		(29,392	)		-		-


Total Increase (Decrease) in Net Assets		(32,011	)		(34,648	)		-		-


Net Assets as of December 31, 2022:	$	18,577		$	-		$	-	$	-


Investment Income:
Reinvested Dividends		332			-			-		-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		27			-			-		-

Net Investment Income (Loss)		305			-			-		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-			-			-		-
Realized Gain (Loss) on Investments		(1,541	)		-			-		-

Net Realized Capital Gains (Losses) on Investments		(1,541	)		-			-		-
Net Change in Unrealized Appreciation (Depreciation)		1,348			-			-		-

Net Gain (Loss) on Investment		(193	)		-			-		-

Net Increase (Decrease) in Net Assets Resulting from Operations		112			-			-		-


Increase (Decrease) in Net Assets from Contract Transactions		(18,689	)		-			-		-


Total Increase (Decrease) in Net Assets		(18,577	)		-			-		-


Net Assets as of December 31, 2023:	$	-		$	-		$	-	$	-

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Statements of Operations and Changes in Net Assets

Years Ended December 31, 2023 and 2022


	TA PIMCO Tactical - Growth Service Class Subaccount		TA Small/Mid Cap Value Service Class Subaccount			TA T. Rowe Price Small Cap Service Class Subaccount			TA WMC US Growth Service Class Subaccount

Net Assets as of December 31, 2021:	$	-	$	32,608		$	-		$	-


Investment Income:
Reinvested Dividends		-		20			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		69			47			-

Net Investment Income (Loss)		-		(49	)		(47	)		-

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		957			13,050			-
Realized Gain (Loss) on Investments		-		(2,458	)		(15,381	)		-

Net Realized Capital Gains (Losses) on Investments		-		(1,501	)		(2,331	)		-
Net Change in Unrealized Appreciation (Depreciation)		-		(864	)		(2	)		-

Net Gain (Loss) on Investment		-		(2,365	)		(2,333	)		-

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(2,414	)		(2,380	)		-


Increase (Decrease) in Net Assets from Contract Transactions		-		(24,455	)		2,380			-


Total Increase (Decrease) in Net Assets		-		(26,869	)		-			-


Net Assets as of December 31, 2022:	$	-	$	5,739		$	-		$	-


Investment Income:
Reinvested Dividends		-		-			-			-
Investment Expense:
Mortality and Expense Risk and Administrative Charges		-		12			42			90

Net Investment Income (Loss)		-		(12	)		(42	)		(90)

Increase (Decrease) in Net Assets from Operations:
Capital Gain Distributions		-		-			698			836
Realized Gain (Loss) on Investments		-		(800	)		(2,111	)		929

Net Realized Capital Gains (Losses) on Investments		-		(800	)		(1,413	)		1,765
Net Change in Unrealized Appreciation (Depreciation)		-		305			-			4,705

Net Gain (Loss) on Investment		-		(495	)		(1,413	)		6,470

Net Increase (Decrease) in Net Assets Resulting from Operations		-		(507	)		(1,455	)		6,380


Increase (Decrease) in Net Assets from Contract Transactions		-		2,901			1,455			24,290


Total Increase (Decrease) in Net Assets		-		2,394			-			30,670


Net Assets as of December 31, 2023:	$	-	$	8,133		$	-		$	30,670

See Accompanying Notes.

⁽¹⁾ See Footnote 1

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

1. Organization

Separate Account VA AA (the Separate Account) is a segregated investment account of Transamerica Life Insurance Company (TLIC), an indirect wholly owned subsidiary of Aegon N.V., a holding company organized under the laws of the Netherlands.

The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940. TLIC and the Separate Account are regulated by the Securities and Exchange Commission. The assets and liabilities of the Separate Account are clearly identified and distinguished from TLIC’s other assets and liabilities. The Separate Account consists of multiple investment subaccounts. Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund. Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended. Activity in these specified investment subaccounts is available to contract owners of Transamerica WRL Freedom Advisor.

Subaccount Investment by Mutual Fund:


Subaccount		Mutual Fund
AB Variable Products Series Fund, Inc.		AB Variable Products Series Fund, Inc.
AB Balanced Hedged Allocation Class B Shares		AB Balanced Hedged Allocation Portfolio Class B Shares
Fidelity^® Variable Insurance Products Fund		Fidelity^® Variable Insurance Products Fund
Fidelity^® VIP Index 500 Service Class 2		Fidelity^® VIP Index 500 Portfolio Service Class 2
Franklin Templeton Variable Insurance Products Trust		Franklin Templeton Variable Insurance Products Trust
Franklin Allocation Class 4 Shares		Franklin Allocation Fund Class 4 Shares
ProFunds		ProFunds
ProFund Access VP High Yield		ProFund Access VP High Yield Fund
ProFund VP Asia 30		ProFund VP Asia 30
ProFund VP Bull		ProFund VP Bull
ProFund VP Communication Services		ProFund VP Communication Services
ProFund VP Consumer Discretionary		ProFund VP Consumer Discretionary
ProFund VP Emerging Markets		ProFund VP Emerging Markets
ProFund VP Energy		ProFund VP Energy
ProFund VP Europe 30		ProFund VP Europe 30
ProFund VP Falling U.S. Dollar		ProFund VP Falling U.S. Dollar
ProFund VP Financials		ProFund VP Financials
ProFund VP Government Money Market		ProFund VP Government Money Market
ProFund VP International		ProFund VP International
ProFund VP Japan		ProFund VP Japan
ProFund VP Materials		ProFund VP Materials
ProFund VP Mid-Cap		ProFund VP Mid-Cap
ProFund VP NASDAQ-100		ProFund VP NASDAQ-100
ProFund VP Pharmaceuticals		ProFund VP Pharmaceuticals
ProFund VP Precious Metals		ProFund VP Precious Metals
ProFund VP Short Emerging Markets		ProFund VP Short Emerging Markets
ProFund VP Short International		ProFund VP Short International
ProFund VP Short NASDAQ-100		ProFund VP Short NASDAQ-100
ProFund VP Short Small-Cap		ProFund VP Short Small-Cap
ProFund VP Small-Cap		ProFund VP Small-Cap
ProFund VP Small-Cap Value		ProFund VP Small-Cap Value
ProFund VP U.S. Government Plus		ProFund VP U.S. Government Plus
ProFund VP UltraSmall-Cap		ProFund VP UltraSmall-Cap

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

1. Organization (continued)

Subaccount Investment by Mutual Fund:


Subaccount		Mutual Fund

ProFunds		ProFunds

ProFund VP Utilities		ProFund VP Utilities

Transamerica Series Trust		Transamerica Series Trust

TA Aegon Bond Service Class		Transamerica Aegon Bond VP Service Class

TA Aegon Core Bond Service Class		Transamerica Aegon Core Bond VP Service Class

TA Aegon High Yield Bond Service Class		Transamerica Aegon High Yield Bond VP Service Class

TA Aegon Sustainable Equity Income Service Class		Transamerica Aegon Sustainable Equity Income VP Service Class

TA Aegon U.S. Government Securities Service Class		Transamerica Aegon U.S. Government Securities VP Service Class

TA BlackRock Government Money Market Service Class		Transamerica BlackRock Government Money Market VP Service Class

TA BlackRock iShares Active Asset Allocation - Conservative Service Class		Transamerica BlackRock iShares Active Asset Allocation - Conservative VP Service Class

TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		Transamerica BlackRock iShares Active Asset Allocation - Moderate Growth VP Service Class

TA BlackRock iShares Edge 40 Service Class		Transamerica BlackRock iShares Edge 40 VP Service Class

TA BlackRock Real Estate Securities Service Class		Transamerica BlackRock Real Estate Securities VP Service Class

TA BlackRock Tactical Allocation Service Class		Transamerica BlackRock Tactical Allocation VP Service Class

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class		Transamerica Goldman Sachs Managed Risk - Balanced ETF VP Initial Class

TA Goldman Sachs Managed Risk - Growth ETF Initial Class		Transamerica Goldman Sachs Managed Risk - Growth ETF VP Initial Class

TA Goldman Sachs Managed Risk - Growth ETF Service Class		Transamerica Goldman Sachs Managed Risk - Growth ETF VP Service Class

TA International Focus Service Class		Transamerica International Focus VP Service Class

TA Janus Balanced Service Class		Transamerica Janus Balanced VP Service Class

TA Janus Mid-Cap Growth Service Class		Transamerica Janus Mid-Cap Growth VP Service Class

TA JPMorgan Enhanced Index Service Class		Transamerica JPMorgan Enhanced Index VP Service Class

TA JPMorgan Tactical Allocation Service Class		Transamerica JPMorgan Tactical Allocation VP Service Class

TA Multi-Managed Balanced Service Class		Transamerica Multi-Managed Balanced VP Service Class

TA PIMCO Tactical - Balanced Service Class		Transamerica PIMCO Tactical - Balanced VP Service Class

TA PIMCO Tactical - Conservative Service Class		Transamerica PIMCO Tactical - Conservative VP Service Class

TA PIMCO Tactical - Growth Service Class		Transamerica PIMCO Tactical - Growth VP Service Class

TA Small/Mid Cap Value Service Class		Transamerica Small/Mid Cap Value VP Service Class

TA T. Rowe Price Small Cap Service Class		Transamerica T. Rowe Price Small Cap VP Service Class

TA WMC US Growth Service Class		Transamerica WMC US Growth VP Service Class

The following subaccount name changes were made effective during the fiscal year ended December 31, 2023:


Subaccount		Formerly

ProFund VP Communication Services		ProFund VP Telecommunications

ProFund VP Consumer Discretionary		ProFund VP Consumer Services

ProFund VP Energy		ProFund VP Oil & Gas

ProFund VP Materials		ProFund VP Basic Materials

TA BlackRock Real Estate Securities Service Class		TA BlackRock Global Real Estate Securities Service Class

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

1. Organization (continued)

During the current year the following subaccounts were removed as available investment options to contract owners and subsequently replaced and reinvested:


Reinvested Subaccount		Removed Subaccount

TA WMC US Growth Service Class		TA Morgan Stanley Capital Growth Service Class

The transfers from the removed and liquidated subaccounts to the reinvested subaccounts for the period ended December 31, 2023 are reflected in the Statements of Changes in Net Assets within Increase (Decrease) in Net Assets from Contract Transactions and purchases and sales in Footnote 3.

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

2. Summary of Significant Accounting Policies

The financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for variable annuity separate accounts registered as unit investment trusts. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities. Actual results could differ from those estimates.

Investments

Net purchase payments received by the Separate Account are invested in the portfolios of the Mutual Funds as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2023.

Realized capital gains and losses from sales of shares in the Separate Account are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the Mutual Funds are included in the Statements of Operations and Changes in Net Assets.

Dividend Income

Dividends received from the Mutual Fund investments are reinvested to purchase additional mutual fund shares.

Fair Value Measurements and Fair Value Hierarchy

The Accounting Standards Codification^™ (ASC) 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements.

The Separate Account has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (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.

Financial assets and liabilities recorded at fair value on the Statements of Assets and Liabilities are categorized as follows:

Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market.

Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following:

a) Quoted prices for similar assets or liabilities in active markets

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

c) Inputs other than quoted market prices that are observable

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

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 or liability.

All investments in the Mutual Funds included in the Statements of Assets and Liabilities are stated at fair value and are based upon published closing NAV per share and therefore are considered Level 1.

There were no transfers between Level 1, Level 2 and Level 3 during the year ended December 31, 2023.

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

3. Investments

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


Subaccount	Purchases		Sales

AB Balanced Hedged Allocation Class B Shares	$	-	$	-

Fidelity^® VIP Index 500 Service Class 2		-		-

Franklin Allocation Class 4 Shares		-		-

ProFund Access VP High Yield		70,788		69,230

ProFund VP Asia 30		20,932		32,141

ProFund VP Bull		8,484		221

ProFund VP Communication Services		-		-

ProFund VP Consumer Discretionary		-		-

ProFund VP Emerging Markets		18,525		32,633

ProFund VP Energy		-		-

ProFund VP Europe 30		51,661		52,086

ProFund VP Falling U.S. Dollar		-		-

ProFund VP Financials		-		-

ProFund VP Government Money Market		83,078		82,963

ProFund VP International		24,713		50,648

ProFund VP Japan		32,086		59,034

ProFund VP Materials		-		-

ProFund VP Mid-Cap		20,074		17,287

ProFund VP NASDAQ-100		33,686		9,822

ProFund VP Pharmaceuticals		-		-

ProFund VP Precious Metals		-		-

ProFund VP Short Emerging Markets		-		-

ProFund VP Short International		-		-

ProFund VP Short NASDAQ-100		-		-

ProFund VP Short Small-Cap		-		-

ProFund VP Small-Cap		-		36

ProFund VP Small-Cap Value		29,008		3

ProFund VP U.S. Government Plus		-		-

ProFund VP UltraSmall-Cap		-		-

ProFund VP Utilities		-		-

TA Aegon Bond Service Class		110,985		125,391

TA Aegon Core Bond Service Class		13,921		13,615

TA Aegon High Yield Bond Service Class		8,058		8,070

TA Aegon Sustainable Equity Income Service Class		21,841		40,128

TA Aegon U.S. Government Securities Service Class		-		-

TA BlackRock Government Money Market Service Class		20,736		2,032

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

3. Investments (continued)


Subaccount	Purchases		Sales

TA BlackRock iShares Active Asset Allocation - Conservative Service Class	$	-	$	-

TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		-		-

TA BlackRock iShares Edge 40 Service Class		-		-

TA BlackRock Real Estate Securities Service Class		-		-

TA BlackRock Tactical Allocation Service Class		-		-

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class		-		-

TA Goldman Sachs Managed Risk - Growth ETF Initial Class		-		-

TA Goldman Sachs Managed Risk - Growth ETF Service Class		-		-

TA International Focus Service Class		-		-

TA Janus Balanced Service Class		-		-

TA Janus Mid-Cap Growth Service Class		101,587		50,431

TA JPMorgan Enhanced Index Service Class		-		-

TA JPMorgan Tactical Allocation Service Class		21,705		40,089

TA Multi-Managed Balanced Service Class		-		-

TA PIMCO Tactical - Balanced Service Class		-		-

TA PIMCO Tactical - Conservative Service Class		-		-

TA PIMCO Tactical - Growth Service Class		-		-

TA Small/Mid Cap Value Service Class		21,606		18,716

TA T. Rowe Price Small Cap Service Class		67,613		65,502

TA WMC US Growth Service Class		35,202		10,166

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

4. Change in Units

The change in units outstanding were as follows:


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased	Units Redeemed and Transferred to/from			Net Increase (Decrease)

AB Balanced Hedged Allocation Class B Shares		-		-			-		-		-			-

Fidelity^® VIP Index 500 Service Class 2		-		-			-		-		-			-

Franklin Allocation Class 4 Shares		-		-			-		-		-			-

ProFund Access VP High Yield		34,528		(35,724	)		(1,196	)	49,272		(20,492	)		28,780

ProFund VP Asia 30		29,306		(45,587	)		(16,281	)	27,211		(10,930	)		16,281

ProFund VP Bull		-		-			-		-		-			-

ProFund VP Communication Services		-		-			-		-		-			-

ProFund VP Consumer Discretionary		-		-			-		-		-			-

ProFund VP Emerging Markets		26,607		(46,193	)		(19,586	)	32,218		(17,269	)		14,949

ProFund VP Energy		-		-			-		-		-			-

ProFund VP Europe 30		50,096		(50,096	)		-		35,143		(35,143	)		-

ProFund VP Falling U.S. Dollar		-		-			-		-		-			-

ProFund VP Financials		-		-			-		-		-			-

ProFund VP Government Money Market		83,302		(83,302	)		-		37,881		(98,088	)		(60,207	)

ProFund VP International		28,068		(58,412	)		(30,344	)	30,344		-			30,344

ProFund VP Japan		22,550		(43,466	)		(20,916	)	54,179		(33,263	)		20,916

ProFund VP Materials		-		-			-		-		-			-

ProFund VP Mid-Cap		8,328		(7,710	)		618		13,960		(24,448	)		(10,488	)

ProFund VP NASDAQ-100		6,907		(1,861	)		5,046		-		(10,810	)		(10,810	)

ProFund VP Pharmaceuticals		-		-			-		-		-			-

ProFund VP Precious Metals		-		-			-		-		-			-

ProFund VP Short Emerging Markets		-		-			-		-		-			-

ProFund VP Short International		-		-			-		-		-			-

ProFund VP Short NASDAQ-100		-		-			-		-		-			-

ProFund VP Short Small-Cap		-		-			-		-		-			-

ProFund VP Small-Cap		-		-			-		-		-			-

ProFund VP Small-Cap Value		11,731		-			11,731		41,647		(41,647	)		-

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

4. Change in Units (continued)


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)			Units Purchased	Units Redeemed and Transferred to/from			Net Increase (Decrease)

ProFund VP U.S. Government Plus		-		-			-		-		-			-

ProFund VP UltraSmall-Cap		-		-			-		-		-			-

ProFund VP Utilities		-		-			-		-		-			-

TA Aegon Bond Service Class		78,836		(88,808	)		(9,972	)	82,470		(111,510	)		(29,040	)

TA Aegon Core Bond Service Class		9,484		(9,484	)		-		-		-			-

TA Aegon High Yield Bond Service Class		3,741		(3,741	)		-		2,532		(5,633	)		(3,101	)

TA Aegon Sustainable Equity Income Service Class		12,626		(23,521	)		(10,895	)	18,674		(32,963	)		(14,289	)

TA Aegon U.S. Government Securities Service Class		-		-			-		-		-			-

TA BlackRock Government Money Market Service Class		-		-			-		-		-			-

TA BlackRock iShares Active Asset Allocation - Conservative Service Class		-		-			-		-		-			-

TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		-		-			-		-		-			-

TA BlackRock iShares Edge 40 Service Class		-		-			-		-		-			-

TA BlackRock Real Estate Securities Service Class		-		-			-		-		(4,927	)		(4,927	)

TA BlackRock Tactical Allocation Service Class		-		-			-		-		-			-

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class		-		-			-		-		-			-

TA Goldman Sachs Managed Risk - Growth ETF Initial Class		-		-			-		-		-			-

TA Goldman Sachs Managed Risk - Growth ETF Service Class		-		-			-		-		-			-

TA International Focus Service Class		-		-			-		-		(3,020	)		(3,020	)

TA Janus Balanced Service Class		-		-			-		-		-			-

TA Janus Mid-Cap Growth Service Class		33,689		(18,124	)		15,565		-		(10,895	)		(10,895	)

TA JPMorgan Enhanced Index Service Class		-		-			-		-		-			-

TA JPMorgan Tactical Allocation Service Class		14,905		(28,032	)		(13,127	)	18,800		(36,026	)		(17,226	)

TA Multi-Managed Balanced Service Class		-		-			-		-		(12,293	)		(12,293	)

TA PIMCO Tactical - Balanced Service Class		-		-			-		-		-			-

TA PIMCO Tactical - Conservative Service Class		-		-			-		-		-			-

TA PIMCO Tactical - Growth Service Class		-		-			-		-		-			-

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

4. Change in Units (continued)


	Year Ended December 31, 2023							Year Ended December 31, 2022
Subaccount	Units Purchased		Units Redeemed and Transferred to/from			Net Increase (Decrease)		Units Purchased	Units Redeemed and Transferred to/from			Net Increase (Decrease)

TA Small/Mid Cap Value Service Class		7,246		(6,693	)		553	11,977		(20,592	)		(8,615	)

TA T. Rowe Price Small Cap Service Class		18,460		(18,460	)		-	19,079		(19,079	)		-

TA WMC US Growth Service Class		11,503		(3,170	)		8,333	-		-			-

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

4. Change in Unit Dollars (continued)


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)

AB Balanced Hedged Allocation Class B Shares	$	-	$	-		$	-		$	-	$	-		$	-

Fidelity^® VIP Index 500 Service Class 2		-		-			-			-		-			-

Franklin Allocation Class 4 Shares		-		-			-			-		-			-

ProFund Access VP High Yield		68,826		(69,071	)		(245	)		93,965		(36,643	)		57,322

ProFund VP Asia 30		20,932		(32,121	)		(11,189	)		20,237		(7,901	)		12,336

ProFund VP Bull		-		(2	)		(2	)		-		(2	)		(2	)

ProFund VP Communication Services		-		-			-			-		-			-

ProFund VP Consumer Discretionary		-		-			-			-		-			-

ProFund VP Emerging Markets		18,526		(32,613	)		(14,087	)		21,672		(11,364	)		10,308

ProFund VP Energy		-		-			-			-		-			-

ProFund VP Europe 30		51,662		(52,060	)		(398	)		36,812		(36,306	)		506

ProFund VP Falling U.S. Dollar		-		-			-			-		-			-

ProFund VP Financials		-		-			-			-		-			-

ProFund VP Government Money Market		82,329		(82,998	)		(669	)		36,488		(94,487	)		(57,999	)

ProFund VP International		24,713		(50,599	)		(25,886	)		24,483		1			24,484

ProFund VP Japan		32,085		(58,998	)		(26,913	)		65,422		(39,893	)		25,529

ProFund VP Materials		-		-			-			-		-			-

ProFund VP Mid-Cap		20,074		(17,276	)		2,798			32,720		(56,420	)		(23,700	)

ProFund VP NASDAQ-100		33,545		(9,734	)		23,811			-		(56,964	)		(56,964	)

ProFund VP Pharmaceuticals		-		-			-			-		-			-

ProFund VP Precious Metals		-		-			-			-		-			-

ProFund VP Short Emerging Markets		-		-			-			-		-			-

ProFund VP Short International		-		-			-			-		-			-

ProFund VP Short NASDAQ-100		-		-			-			-		-			-

ProFund VP Short Small-Cap		-		-			-			-		-			-

ProFund VP Small-Cap		-		(1	)		(1	)		-		(1	)		(1	)

ProFund VP Small-Cap Value		29,008		-			29,008			97,054		(95,900	)		1,154

ProFund VP U.S. Government Plus		-		-			-			-		2			2

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

4. Change in Unit Dollars (continued)


	Year Ended December 31, 2023								Year Ended December 31, 2022
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)			Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)

ProFund VP UltraSmall-Cap	$	-	$	-		$	-		$	-	$	-		$	-

ProFund VP Utilities		-		-			-			-		-			-

TA Aegon Bond Service Class		110,937		(125,310	)		(14,373	)		121,402		(168,033	)		(46,631	)

TA Aegon Core Bond Service Class		13,921		(13,604	)		317			-		-			-

TA Aegon High Yield Bond Service Class		8,058		(8,070	)		(12	)		5,189		(11,270	)		(6,081	)

TA Aegon Sustainable Equity Income Service Class		21,428		(40,100	)		(18,672	)		32,736		(57,894	)		(25,158	)

TA Aegon U.S. Government Securities Service Class		-		-			-			-		-			-

TA BlackRock Government Money Market Service Class		-		4			4			-		2			2

TA BlackRock iShares Active Asset Allocation - Conservative Service Class		-		-			-			-		-			-

TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class		-		-			-			-		-			-

TA BlackRock iShares Edge 40 Service Class		-		-			-			-		-			-

TA BlackRock Real Estate Securities Service Class		-		-			-			-		(5,520	)		(5,520	)

TA BlackRock Tactical Allocation Service Class		-		-			-			-		-			-

TA Goldman Sachs Managed Risk - Balanced ETF Initial Class		-		-			-			-		-			-

TA Goldman Sachs Managed Risk - Growth ETF Initial Class		-		-			-			-		-			-

TA Goldman Sachs Managed Risk - Growth ETF Service Class		-		-			-			-		-			-

TA International Focus Service Class		-		-			-			-		(4,340	)		(4,340	)

TA Janus Balanced Service Class		-		-			-			-		-			-

TA Janus Mid-Cap Growth Service Class		94,051		(50,252	)		43,799			-		(30,986	)		(30,986	)

TA JPMorgan Enhanced Index Service Class		-		-			-			-		-			-

TA JPMorgan Tactical Allocation Service Class		21,373		(40,062	)		(18,689	)		28,534		(55,570	)		(27,036	)

TA Multi-Managed Balanced Service Class		-		-			-			-		(29,392	)		(29,392	)

TA PIMCO Tactical - Balanced Service Class		-		-			-			-		-			-

TA PIMCO Tactical - Conservative Service Class		-		-			-			-		-			-

TA PIMCO Tactical - Growth Service Class		-		-			-			-		-			-

TA Small/Mid Cap Value Service Class		21,606		(18,705	)		2,901			34,526		(58,981	)		(24,455	)

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

4. Change in Unit Dollars (continued)


	Year Ended December 31, 2023							Year Ended December 31, 2022
Subaccount	Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)		Units Purchased in Dollars		Units Redeemed and Transferred to/from in Dollars			Dollar Net Increase (Decrease)

TA T. Rowe Price Small Cap Service Class	$	66,915	$	(65,460	)	$	1,455	$	64,519	$	(62,139	)	$	2,380

TA WMC US Growth Service Class		34,369		(10,079	)		24,290		-		-			-

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

5. Financial Highlights

The Separate Account offers various death benefit options, which have differing fees that are charged against the contract owner’s account balance. These charges are discussed in more detail in the individual’s policy. Differences in the fee structures for these units result in different unit values, expense ratios, and total returns.


	At December 31									For the Year Ended December 31

Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return* Corresponding to Lowest to Highest Expense Ratio**


AB Balanced Hedged Allocation Class B Shares
12/31/2023		-	$	2.64	to	$	12.47	$	-		-	%		0.65	%	to	1.95	%		11.93	%	to	10.51	%
12/31/2022		-		2.36	to		11.29		-		-			0.65		to	1.95			(19.69	)	to	(20.71	)
12/31/2021		-		2.94	to		14.24		-		-			0.65		to	1.95			12.63		to	11.20
12/31/2020		-		2.61	to		12.80		-		-			0.65		to	1.95			8.55		to	7.16
12/31/2019		-		2.40	to		11.95		-		-			0.65		to	1.95			17.44		to	15.94
Fidelity^® VIP Index 500 Service Class 2
12/31/2023		-		3.78	to		20.56		-		-			0.45		to	1.75			25.32		to	23.72
12/31/2022		-		3.02	to		16.62		-		-			0.45		to	1.75			(18.78	)	to	(19.82	)
12/31/2021		-		3.72	to		20.72		-		-			0.45		to	1.75			27.68		to	26.05
12/31/2020		-		2.91	to		16.44		-		-			0.45		to	1.75			17.42		to	15.92
12/31/2019		-		2.48	to		14.18		-		-			0.45		to	1.75			30.43		to	28.77
Franklin Allocation Class 4 Shares
12/31/2023		-		2.87	to		12.53		-		-			0.60		to	1.90			13.94		to	12.49
12/31/2022		-		2.52	to		11.14		-		-			0.60		to	1.90			(16.69	)	to	(17.75	)
12/31/2021		-		3.02	to		13.54		-		-			0.60		to	1.90			10.87		to	9.46
12/31/2020		-		2.72	to		12.37		-		-			0.60		to	1.90			11.08		to	9.67
12/31/2019		-		2.45	to		11.28		-		-			0.60		to	1.90			18.85		to	17.33
ProFund Access VP High Yield
12/31/2023		27,584		2.08	to		10.51		57,477		5.62			0.45		to	1.75			9.93		to	8.53
12/31/2022		28,780		1.90	to		9.68		54,552		7.96			0.45		to	1.75			(8.38	)	to	(9.55	)
12/31/2021		-		2.07	to		10.70		-		-			0.45		to	1.75			(0.18	)	to	(1.45	)
12/31/2020		-		2.07	to		10.86		-		-			0.45		to	1.75			(0.51	)	to	(1.78	)
12/31/2019		-		2.08	to		11.06		-		6.76			0.45		to	1.75			11.93		to	10.50
ProFund VP Asia 30
12/31/2023		-		0.71	to		10.31		-		-			0.45		to	1.75			3.85		to	2.53
12/31/2022		16,281		0.68	to		10.06		11,094		-			0.45		to	1.75			(24.76	)	to	(25.73	)
12/31/2021		-		0.91	to		13.55		-		-			0.45		to	1.75			(18.89	)	to	(19.92	)
12/31/2020		-		1.12	to		16.92		-		0.54			0.45		to	1.75			34.94		to	33.22
12/31/2019		73,637		0.83	to		12.70		60,726		0.09			0.45		to	1.75			25.74		to	24.13
ProFund VP Bull
12/31/2023		18,711		2.93	to		18.37		54,771		-			0.45		to	1.75			23.19		to	21.62
12/31/2022		18,711		2.38	to		15.10		44,462		-			0.45		to	1.75			(20.09	)	to	(21.11	)
12/31/2021		18,711		2.97	to		19.14		55,644		-			0.45		to	1.75			25.77		to	24.16
12/31/2020		18,711		2.36	to		15.42		44,243		0.08			0.45		to	1.75			15.51		to	14.04
12/31/2019		31,636		2.05	to		13.52		64,757		0.27			0.45		to	1.75			28.30		to	26.66
ProFund VP Communication Services
12/31/2023		-		1.43	to		10.54		-		-			0.45		to	1.75			31.23		to	29.56
12/31/2022		-		1.09	to		8.14		-		-			0.45		to	1.75			(21.57	)	to	(22.57	)
12/31/2021		-		1.39	to		10.51		-		-			0.45		to	1.75			17.88		to	16.38
12/31/2020		-		1.18	to		9.03		-		-			0.45		to	1.75			2.69		to	1.38
12/31/2019		-		1.15	to		8.91		-		-			0.45		to	1.75			14.25		to	12.80
ProFund VP Consumer Discretionary
12/31/2023		-		3.91	to		16.59		-		-			0.45		to	1.75			31.47		to	29.79
12/31/2022		-		2.98	to		12.78		-		-			0.45		to	1.75			(31.84	)	to	(32.71	)
12/31/2021		-		4.37	to		18.99		-		-			0.45		to	1.75			9.74		to	8.33
12/31/2020		-		3.98	to		17.53		-		-			0.45		to	1.75			27.77		to	26.14
12/31/2019		-		3.12	to		13.90		-		-			0.45		to	1.75			24.08		to	22.50

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


	At December 31									For the Year Ended December 31

Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return*** Corresponding to Lowest to Highest Expense Ratio

ProFund VP Emerging Markets
12/31/2023		-	$	0.76	to	$	12.16	$	-		-	%		0.45	%	to	1.75	%		14.80	%	to	13.34	%
12/31/2022		19,586		0.66	to		10.73		12,882		0.53			0.45		to	1.75			(16.57	)	to	(17.63	)
12/31/2021		4,637		0.79	to		13.03		3,630		-			0.45		to	1.75			(18.38	)	to	(19.42	)
12/31/2020		4,637		0.97	to		16.17		4,450		0.38			0.45		to	1.75			26.15		to	24.54
12/31/2019		87,826		0.77	to		12.98		67,022		0.20			0.45		to	1.75			23.68		to	22.10
ProFund VP Energy
12/31/2023		-		1.16	to		11.37		-		-			0.45		to	1.75			(2.93	)	to	(4.17	)
12/31/2022		-		1.20	to		11.86		-		-			0.45		to	1.75			58.72		to	56.70
12/31/2021		-		0.76	to		7.57		-		-			0.45		to	1.75			51.25		to	49.32
12/31/2020		-		0.50	to		5.07		-		-			0.45		to	1.75			(34.75	)	to	(35.59	)
12/31/2019		-		0.77	to		7.87		-		-			0.45		to	1.75			8.03		to	6.65
ProFund VP Europe 30
12/31/2023		-		1.13	to		12.94		-		-			0.45		to	1.75			16.94		to	15.45
12/31/2022		-		0.97	to		11.21		-		2.09			0.45		to	1.75			(8.17	)	to	(9.35	)
12/31/2021		-		1.05	to		12.36		-		-			0.45		to	1.75			23.97		to	22.39
12/31/2020		-		0.85	to		10.10		-		-			0.45		to	1.75			(9.64	)	to	(10.79	)
12/31/2019		-		0.94	to		11.32		-		-			0.45		to	1.75			17.26		to	15.76
ProFund VP Falling U.S. Dollar
12/31/2023		-		0.56	to		8.01		-		-			0.45		to	1.75			2.78		to	1.47
12/31/2022		-		0.55	to		7.89		-		-			0.45		to	1.75			(9.17	)	to	(10.33	)
12/31/2021		-		0.60	to		8.80		-		-			0.45		to	1.75			(8.44	)	to	(9.61	)
12/31/2020		-		0.66	to		9.73		-		-			0.45		to	1.75			4.34		to	3.00
12/31/2019		127,038		0.63	to		9.45		80,407		-			0.45		to	1.75			(2.78	)	to	(4.02	)
ProFund VP Financials
12/31/2023		-		1.60	to		14.80		-		-			0.45		to	1.75			13.38		to	11.93
12/31/2022		-		1.41	to		13.22		-		-			0.45		to	1.75			(15.52	)	to	(16.60	)
12/31/2021		-		1.67	to		15.86		-		-			0.45		to	1.75			29.52		to	27.87
12/31/2020		-		1.29	to		12.40		-		-			0.45		to	1.75			(2.21	)	to	(3.46	)
12/31/2019		-		1.32	to		12.84		-		-			0.45		to	1.75			29.69		to	28.03
ProFund VP Government Money Market
12/31/2023		-		1.01	to		9.44		-		4.10			0.45		to	1.75			3.68		to	2.36
12/31/2022		-		0.97	to		9.22		-		0.13			0.45		to	1.75			0.59		to	(0.69	)
12/31/2021		60,207		0.97	to		9.29		58,106		0.01			0.45		to	1.75			(0.44	)	to	(1.71	)
12/31/2020		-		0.97	to		9.45		-		0.13			0.45		to	1.75			(0.40	)	to	(1.68	)
12/31/2019		375,058		0.97	to		9.61		365,014		0.78			0.45		to	1.75			0.32		to	(0.96	)
ProFund VP International
12/31/2023		-		0.92	to		11.74		-		-			0.45		to	1.75			15.04		to	13.57
12/31/2022		30,344		0.80	to		10.34		24,283		-			0.45		to	1.75			(16.82	)	to	(17.88	)
12/31/2021		-		0.96	to		12.59		-		-			0.45		to	1.75			8.33		to	6.95
12/31/2020		-		0.89	to		11.77		-		-			0.45		to	1.75			4.43		to	3.09
12/31/2019		-		0.85	to		11.42		-		-			0.45		to	1.75			18.74		to	17.22
ProFund VP Japan
12/31/2023		-		1.53	to		15.75		-		-			0.45		to	1.75			33.91		to	32.20
12/31/2022		20,916		1.15	to		11.92		23,967		-			0.45		to	1.75			(10.33	)	to	(11.47	)
12/31/2021		-		1.28	to		13.46		-		-			0.45		to	1.75			3.43		to	2.11
12/31/2020		-		1.24	to		13.18		-		-			0.45		to	1.75			15.41		to	13.94
12/31/2019		-		1.07	to		11.57		-		0.08			0.45		to	1.75			19.46		to	17.93
ProFund VP Materials
12/31/2023		-		1.86	to		15.41		-		-			0.45		to	1.75			11.88		to	10.45
12/31/2022		-		1.66	to		13.96		-		-			0.45		to	1.75			(9.55	)	to	(10.70	)
12/31/2021		-		1.84	to		15.63		-		-			0.45		to	1.75			25.07		to	23.47
12/31/2020		-		1.47	to		12.66		-		-			0.45		to	1.75			15.96		to	14.48
12/31/2019		-		1.27	to		11.06		-		-			0.45		to	1.75			17.19		to	15.69

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


	At December 31									For the Year Ended December 31

Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio** Lowest to Highest						Total Return* Corresponding to Lowest to Highest Expense Ratio**

ProFund VP Mid-Cap
12/31/2023		3,172	$	2.54	to	$	13.89	$	8,067		-	%		0.45	%	to	1.75	%		13.32	%	to	11.88	%
12/31/2022		2,554		2.24	to		12.41		5,731		-			0.45		to	1.75			(15.30	)	to	(16.38	)
12/31/2021		13,042		2.65	to		14.84		34,421		-			0.45		to	1.75			21.66		to	20.11
12/31/2020		7,569		2.18	to		12.36		16,426		-			0.45		to	1.75			10.26		to	8.86
12/31/2019		-		1.97	to		11.35		-		0.30			0.45		to	1.75			22.97		to	21.40
ProFund VP NASDAQ-100
12/31/2023		5,046		6.09	to		27.89		30,733		-			0.45		to	1.75			51.50		to	49.57
12/31/2022		-		4.02	to		18.65		-		-			0.45		to	1.75			(34.21	)	to	(35.05	)
12/31/2021		10,810		6.11	to		28.71		65,800		-			0.45		to	1.75			24.24		to	22.66
12/31/2020		-		4.92	to		23.41		-		-			0.45		to	1.75			44.92		to	43.07
12/31/2019		13,158		3.39	to		16.36		44,506		-			0.45		to	1.75			36.09		to	34.35
ProFund VP Pharmaceuticals
12/31/2023		-		2.31	to		11.41		-		-			0.45		to	1.75			(5.91	)	to	(7.11	)
12/31/2022		-		2.45	to		12.28		-		-			0.45		to	1.75			(6.55	)	to	(7.74	)
12/31/2021		-		2.62	to		13.31		-		-			0.45		to	1.75			10.70		to	9.29
12/31/2020		-		2.37	to		12.18		-		-			0.45		to	1.75			12.01		to	10.58
12/31/2019		-		2.12	to		11.02		-		-			0.45		to	1.75			13.53		to	12.08
ProFund VP Precious Metals
12/31/2023		-		0.50	to		11.55		-		-			0.45		to	1.75			1.02		to	(0.26	)
12/31/2022		-		0.49	to		11.58		-		-			0.45		to	1.75			(11.42	)	to	(12.55	)
12/31/2021		-		0.55	to		13.24		-		-			0.45		to	1.75			(9.34	)	to	(10.50	)
12/31/2020		-		0.61	to		14.79		-		-			0.45		to	1.75			23.55		to	21.97
12/31/2019		-		0.49	to		12.13		-		-			0.45		to	1.75			45.33		to	43.47
ProFund VP Short Emerging Markets
12/31/2023		-		0.21	to		4.12		-		-			0.45		to	1.75			(12.17	)	to	(13.29	)
12/31/2022		-		0.24	to		4.75		-		-			0.45		to	1.75			6.22		to	4.86
12/31/2021		-		0.23	to		4.53		-		-			0.45		to	1.75			9.46		to	8.07
12/31/2020		-		0.21	to		4.19		-		-			0.45		to	1.75			(32.06	)	to	(32.93	)
12/31/2019		-		0.31	to		6.25		-		-			0.45		to	1.75			(21.35	)	to	(22.35	)
ProFund VP Short International
12/31/2023		-		0.27	to		4.96		-		-			0.45		to	1.75			(10.69	)	to	(11.83	)
12/31/2022		-		0.30	to		5.62		-		-			0.45		to	1.75			11.95		to	10.52
12/31/2021		-		0.27	to		5.09		-		-			0.45		to	1.75			(13.79	)	to	(14.89	)
12/31/2020		-		0.31	to		5.98		-		-			0.45		to	1.75			(17.32	)	to	(18.37	)
12/31/2019		-		0.37	to		7.32		-		-			0.45		to	1.75			(17.79	)	to	(18.84	)
ProFund VP Short NASDAQ-100
12/31/2023		-		0.05	to		1.84		-		-			0.45		to	1.75			(32.70	)	to	(33.56	)
12/31/2022		-		0.07	to		2.77		-		-			0.45		to	1.75			34.47		to	32.75
12/31/2021		-		0.05	to		2.08		-		-			0.45		to	1.75			(25.48	)	to	(26.42	)
12/31/2020		-		0.07	to		2.83		-		-			0.45		to	1.75			(43.03	)	to	(43.76	)
12/31/2019		-		0.12	to		5.03		-		-			0.45		to	1.75			(28.38	)	to	(29.29	)
ProFund VP Short Small-Cap
12/31/2023		-		0.09	to		3.93		-		-			0.45		to	1.75			(11.27	)	to	(12.41	)
12/31/2022		-		0.10	to		4.49		-		-			0.45		to	1.75			17.28		to	15.79
12/31/2021		-		0.09	to		3.88		-		-			0.45		to	1.75			(19.42	)	to	(20.44	)
12/31/2020		-		0.11	to		4.87		-		-			0.45		to	1.75			(32.27	)	to	(33.14	)
12/31/2019		-		0.16	to		7.29		-		-			0.45		to	1.75			(21.14	)	to	(22.15	)
ProFund VP Small-Cap
12/31/2023		4,016		2.16	to		12.44		8,694		-			0.45		to	1.75			14.39		to	12.94
12/31/2022		4,016		1.89	to		11.01		7,600		-			0.45		to	1.75			(22.20	)	to	(23.19	)
12/31/2021		4,016		2.43	to		14.34		9,768		-			0.45		to	1.75			12.38		to	10.94
12/31/2020		4,016		2.16	to		12.93		8,692		0.06			0.45		to	1.75			16.53		to	15.04
12/31/2019		6,790		1.86	to		11.24		12,611		-			0.45		to	1.75			23.05		to	21.48

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


	At December 31									For the Year Ended December 31

Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return*** Corresponding to Lowest to Highest Expense Ratio

ProFund VP Small-Cap Value
12/31/2023		11,731	$	2.49	to	$	12.80	$	29,168		-	%		0.45	%	to	1.75	%		12.43	%	to	11.00	%
12/31/2022		-		2.21	to		11.53		-		-			0.45		to	1.75			(12.80	)	to	(13.92	)
12/31/2021		-		2.54	to		13.39		-		0.13			0.45		to	1.75			27.98		to	26.35
12/31/2020		34,507		1.98	to		10.60		68,143		-			0.45		to	1.75			0.61		to	(0.68	)
12/31/2019		31,030		1.97	to		10.67		60,918		-			0.45		to	1.75			22.01		to	20.46
ProFund VP U.S. Government Plus
12/31/2023		-		1.30	to		7.06		-		4.77			0.45		to	1.75			(0.40	)	to	(1.67	)
12/31/2022		-		1.31	to		7.19		-		-			0.45		to	1.75			(41.96	)	to	(42.70	)
12/31/2021		-		2.25	to		12.54		-		-			0.45		to	1.75			(7.50	)	to	(8.68	)
12/31/2020		-		2.44	to		13.73		-		-			0.45		to	1.75			20.15		to	18.62
12/31/2019		-		2.03	to		11.58		-		1.15			0.45		to	1.75			17.69		to	16.19
ProFund VP UltraSmall-Cap
12/31/2023		-		1.87	to		11.30		-		-			0.45		to	1.75			21.88		to	20.33
12/31/2022		-		1.53	to		9.39		-		-			0.45		to	1.75			(43.94	)	to	(44.65	)
12/31/2021		-		2.73	to		16.97		-		-			0.45		to	1.75			22.75		to	21.18
12/31/2020		-		2.23	to		14.00		-		-			0.45		to	1.75			15.87		to	14.39
12/31/2019		-		1.92	to		12.24		-		-			0.45		to	1.75			46.67		to	44.80
ProFund VP Utilities
12/31/2023		-		1.99	to		12.71		-		-			0.45		to	1.75			(9.00	)	to	(10.16	)
12/31/2022		-		2.19	to		14.15		-		-			0.45		to	1.75			(0.70	)	to	(1.96	)
12/31/2021		-		2.20	to		14.43		-		-			0.45		to	1.75			14.89		to	13.42
12/31/2020		-		1.92	to		12.72		-		-			0.45		to	1.75			(2.84	)	to	(4.08	)
12/31/2019		-		1.97	to		13.26		-		-			0.45		to	1.75			22.33		to	20.76
TA Aegon Bond Service Class
12/31/2023		5,563		1.45	to		9.52		8,094		0.27			0.45		to	1.75			5.71		to	4.36
12/31/2022		15,535		1.38	to		9.12		21,381		2.52			0.45		to	1.75			(15.46	)	to	(16.54	)
12/31/2021		44,575		1.63	to		10.93		72,255		1.62			0.45		to	1.75			(1.51	)	to	(2.77	)
12/31/2020		17,515		1.65	to		11.24		28,818		6.18			0.45		to	1.75			6.92		to	5.56
12/31/2019		16,802		1.55	to		10.65		25,864		1.41			0.45		to	1.75			7.73		to	6.36
TA Aegon Core Bond Service Class
12/31/2023		-		1.51	to		9.64		-		-			0.45		to	1.75			5.31		to	3.97
12/31/2022		-		1.44	to		9.27		-		-			0.45		to	1.75			(13.38	)	to	(14.49	)
12/31/2021		-		1.66	to		10.85		-		-			0.45		to	1.75			(1.71	)	to	(2.96	)
12/31/2020		-		1.69	to		11.18		-		-			0.45		to	1.75			6.68		to	5.32
12/31/2019		-		1.58	to		10.61		-		-			0.45		to	1.75			7.77		to	6.39
TA Aegon High Yield Bond Service Class
12/31/2023		-		2.16	to		11.43		-		-			0.45		to	1.75			10.37		to	8.97
12/31/2022		-		1.96	to		10.49		-		6.02			0.45		to	1.75			(11.85	)	to	(12.97	)
12/31/2021		3,101		2.22	to		12.05		6,846		5.85			0.45		to	1.75			5.78		to	4.42
12/31/2020		29,930		2.10	to		11.54		62,859		7.60			0.45		to	1.75			4.21		to	2.88
12/31/2019		47,945		2.02	to		11.22		96,654		5.82			0.45		to	1.75			13.46		to	12.01
TA Aegon Sustainable Equity Income Service Class
12/31/2023		-		1.81	to		11.63		-		6.73			0.45		to	1.75			5.53		to	4.19
12/31/2022		10,895		1.71	to		11.16		18,642		0.87			0.45		to	1.75			(12.24	)	to	(13.36	)
12/31/2021		25,184		1.95	to		12.88		48,908		-			0.45		to	1.75			21.57		to	20.02
12/31/2020		-		1.60	to		10.73		-		-			0.45		to	1.75			(8.00	)	to	(9.18	)
12/31/2019		-		1.74	to		11.82		-		-			0.45		to	1.75			23.02		to	21.45
TA Aegon U.S. Government Securities Service Class
12/31/2023		-		1.30	to		9.18		-		-			0.45		to	1.75			3.22		to	1.91
12/31/2022		-		1.26	to		9.01		-		-			0.45		to	1.75			(13.68	)	to	(14.78	)
12/31/2021		-		1.46	to		10.57		-		-			0.45		to	1.75			(2.97	)	to	(4.21	)
12/31/2020		-		1.51	to		11.04		-		-			0.45		to	1.75			8.18		to	6.79
12/31/2019		-		1.40	to		10.34		-		-			0.45		to	1.75			5.87		to	4.52

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


	At December 31								For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio				Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return*** Corresponding to Lowest to Highest Expense Ratio

TA BlackRock Government Money Market Service Class
12/31/2023		444,161		$1.05	to	$9.67	$	464,435		4.57	%		0.45	%	to	1.75	%		4.20	%	to	2.87	%
12/31/2022		444,161		1.00	to	9.40		445,726		1.40			0.45		to	1.75			0.95		to	(0.33	)
12/31/2021		444,161		0.99	to	9.43		441,520		-			0.45		to	1.75			(0.44	)	to	(1.72	)
12/31/2020		444,161		1.00	to	9.60		443,473		0.05			0.45		to	1.75			(0.20	)	to	(1.48	)
12/31/2019		-		1.00	to	9.74		-		-			0.45		to	1.75			1.26		to	(0.03	)
TA BlackRock iShares Active Asset Allocation - Conservative Service Class
12/31/2023		-		1.43	to	11.14		-		-			0.45		to	1.75			9.47		to	8.07
12/31/2022		-		1.31	to	10.31		-		-			0.45		to	1.75			(15.67	)	to	(16.74	)
12/31/2021		-		1.55	to	12.38		-		-			0.45		to	1.75			5.27		to	3.92
12/31/2020		-		1.48	to	11.91		-		-			0.45		to	1.75			6.17		to	4.82
12/31/2019		-		1.39	to	11.37		-		-			0.45		to	1.75			10.74		to	9.32
TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class
12/31/2023		-		1.52	to	11.17		-		-			0.45		to	1.75			17.10		to	15.60
12/31/2022		-		1.30	to	9.66		-		-			0.45		to	1.75			(18.68	)	to	(19.72	)
12/31/2021		-		1.60	to	12.04		-		-			0.45		to	1.75			7.14		to	5.77
12/31/2020		-		1.49	to	11.38		-		-			0.45		to	1.75			(2.52	)	to	(3.76	)
12/31/2019		-		1.53	to	11.82		-		-			0.45		to	1.75			10.86		to	9.44
TA BlackRock iShares Edge 40 Service Class
12/31/2023		-		1.28	to	11.46		-		-			0.45		to	1.75			8.58		to	7.20
12/31/2022		-		1.18	to	10.69		-		-			0.45		to	1.75			(14.82	)	to	(15.91	)
12/31/2021		-		1.39	to	12.71		-		-			0.45		to	1.75			5.30		to	3.96
12/31/2020		-		1.32	to	12.23		-		-			0.45		to	1.75			8.96		to	7.57
12/31/2019		-		1.21	to	11.37		-		-			0.45		to	1.75			14.59		to	13.12
TA BlackRock Real Estate Securities Service Class
12/31/2023		-		1.26	to	11.03		-		5.17			0.45		to	1.75			12.64		to	11.21
12/31/2022		-		1.12	to	9.92		-		3.22			0.45		to	1.75			(28.71	)	to	(29.62	)
12/31/2021		4,927		1.57	to	14.09		7,681		2.15			0.45		to	1.75			25.29		to	23.69
12/31/2020		4,927		1.25	to	11.39		6,134		11.67			0.45		to	1.75			(0.95	)	to	(2.22	)
12/31/2019		4,927		1.27	to	11.65		6,196		0.61			0.45		to	1.75			24.32		to	22.74
TA BlackRock Tactical Allocation Service Class
12/31/2023		-		1.54	to	12.89		-		-			0.45		to	1.75			14.37		to	12.91
12/31/2022		-		1.34	to	11.42		-		-			0.45		to	1.75			(16.58	)	to	(17.65	)
12/31/2021		-		1.61	to	13.87		-		-			0.45		to	1.75			7.15		to	5.78
12/31/2020		-		1.50	to	13.11		-		-			0.45		to	1.75			12.68		to	11.24
12/31/2019		-		1.33	to	11.78		-		-			0.45		to	1.75			16.53		to	15.04
TA Goldman Sachs Managed Risk - Balanced ETF Initial Class
12/31/2023		-		1.86	to	12.36		-		-			0.45		to	1.75			12.91		to	11.47
12/31/2022		-		1.65	to	11.09		-		-			0.45		to	1.75			(14.46	)	to	(15.55	)
12/31/2021		-		1.93	to	13.13		-		-			0.45		to	1.75			9.16		to	7.77
12/31/2020		-		1.77	to	12.19		-		-			0.45		to	1.75			4.02		to	2.69
12/31/2019		-		1.70	to	11.87		-		-			0.45		to	1.75			15.40		to	13.93
TA Goldman Sachs Managed Risk - Growth ETF Initial Class
12/31/2023		-		2.13	to	13.97		-		-			0.45		to	1.75			17.56		to	16.06
12/31/2022		-		1.81	to	12.04		-		-			0.45		to	1.75			(14.70	)	to	(15.79	)
12/31/2021		-		2.12	to	14.30		-		-			0.45		to	1.75			13.73		to	12.28
12/31/2020		-		1.87	to	12.73		-		-			0.45		to	1.75			4.05		to	2.72
12/31/2019		-		1.79	to	12.39		-		-			0.45		to	1.75			19.20		to	17.68
TA Goldman Sachs Managed Risk - Growth ETF Service Class
12/31/2023		-		1.73	to	13.72		-		-			0.45		to	1.75			17.15		to	15.66
12/31/2022		-		1.47	to	11.87		-		-			0.45		to	1.75			(14.90	)	to	(15.99	)
12/31/2021		-		1.73	to	14.12		-		-			0.45		to	1.75			13.53		to	12.08
12/31/2020		-		1.53	to	12.60		-		-			0.45		to	1.75			3.75		to	2.42
12/31/2019		-		1.47	to	12.30		-		-			0.45		to	1.75			18.87		to	17.36

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return*** Corresponding to Lowest to Highest Expense Ratio

TA International Focus Service Class
12/31/2023		-	$	1.62	to	$	13.91	$	-		-	%		0.45	%	to	1.75	%		11.77	%	to	10.34	%
12/31/2022		-		1.45	to		12.61		-		3.07			0.45		to	1.75			(20.65	)	to	(21.66	)
12/31/2021		3,020		1.83	to		16.09		5,489		1.06			0.45		to	1.75			10.13		to	8.73
12/31/2020		3,020		1.66	to		14.80		4,987		1.75			0.45		to	1.75			20.04		to	18.51
12/31/2019		3,020		1.38	to		12.49		4,156		0.84			0.45		to	1.75			26.83		to	25.21
TA Janus Balanced Service Class
12/31/2023		-		2.30	to		15.72		-		-			0.45		to	1.75			14.50		to	13.04
12/31/2022		-		2.01	to		13.91		-		-			0.45		to	1.75			(17.14	)	to	(18.20	)
12/31/2021		-		2.43	to		17.00		-		-			0.45		to	1.75			14.92		to	13.46
12/31/2020		-		2.11	to		14.98		-		-			0.45		to	1.75			13.80		to	12.35
12/31/2019		-		1.86	to		13.34		-		-			0.45		to	1.75			21.23		to	19.68
TA Janus Mid-Cap Growth Service Class
12/31/2023		19,549		3.04	to		20.31		59,355		-			0.45		to	1.75			16.28		to	14.80
12/31/2022		3,984		2.61	to		17.70		10,403		-			0.45		to	1.75			(17.31	)	to	(18.36	)
12/31/2021		14,879		3.16	to		21.68		46,856		0.16			0.45		to	1.75			16.47		to	14.98
12/31/2020		41,855		2.71	to		18.85		113,111		0.05			0.45		to	1.75			18.40		to	16.89
12/31/2019		6,736		2.29	to		16.13		15,425		-			0.45		to	1.75			35.72		to	33.98
TA JPMorgan Enhanced Index Service Class
12/31/2023		-		3.81	to		20.86		-		-			0.45		to	1.75			26.82		to	25.21
12/31/2022		-		3.01	to		16.66		-		-			0.45		to	1.75			(18.91	)	to	(19.94	)
12/31/2021		-		3.71	to		20.81		-		-			0.45		to	1.75			29.21		to	27.56
12/31/2020		-		2.87	to		16.32		-		-			0.45		to	1.75			19.32		to	17.80
12/31/2019		-		2.40	to		13.85		-		-			0.45		to	1.75			30.10		to	28.44
TA JPMorgan Tactical Allocation Service Class
12/31/2023		-		1.53	to		11.21		-		5.52			0.45		to	1.75			8.08		to	6.70
12/31/2022		13,127		1.42	to		10.50		18,577		0.78			0.45		to	1.75			(15.41	)	to	(16.49	)
12/31/2021		30,353		1.67	to		12.58		50,588		-			0.45		to	1.75			4.16		to	2.83
12/31/2020		-		1.61	to		12.23		-		-			0.45		to	1.75			11.60		to	10.17
12/31/2019		-		1.44	to		11.10		-		-			0.45		to	1.75			11.41		to	9.99
TA Multi-Managed Balanced Service Class
12/31/2023		-		2.78	to		15.58		-		-			0.45		to	1.75			17.91		to	16.41
12/31/2022		-		2.36	to		13.38		-		1.02			0.45		to	1.75			(16.86	)	to	(17.92	)
12/31/2021		12,293		2.84	to		16.31		34,648		0.96			0.45		to	1.75			16.27		to	14.78
12/31/2020		12,293		2.44	to		14.21		29,815		1.38			0.45		to	1.75			15.08		to	13.62
12/31/2019		12,293		2.12	to		12.50		25,920		1.44			0.45		to	1.75			20.95		to	19.41
TA PIMCO Tactical - Balanced Service Class
12/31/2023		-		1.44	to		11.31		-		-			0.45		to	1.75			10.16		to	8.76
12/31/2022		-		1.31	to		10.40		-		-			0.45		to	1.75			(20.01	)	to	(21.03	)
12/31/2021		-		1.63	to		13.17		-		-			0.45		to	1.75			5.91		to	4.56
12/31/2020		-		1.54	to		12.60		-		-			0.45		to	1.75			8.37		to	6.99
12/31/2019		-		1.42	to		11.78		-		-			0.45		to	1.75			19.14		to	17.62
TA PIMCO Tactical - Conservative Service Class
12/31/2023		-		1.34	to		11.01		-		-			0.45		to	1.75			6.76		to	5.40
12/31/2022		-		1.25	to		10.45		-		-			0.45		to	1.75			(17.66	)	to	(18.71	)
12/31/2021		-		1.52	to		12.85		-		-			0.45		to	1.75			3.74		to	2.42
12/31/2020		-		1.47	to		12.55		-		-			0.45		to	1.75			9.40		to	8.00
12/31/2019		-		1.34	to		11.62		-		-			0.45		to	1.75			17.04		to	15.54
TA PIMCO Tactical - Growth Service Class
12/31/2023		-		1.53	to		12.59		-		-			0.45		to	1.75			13.43		to	11.98
12/31/2022		-		1.35	to		11.24		-		-			0.45		to	1.75			(18.39	)	to	(19.44	)
12/31/2021		-		1.65	to		13.96		-		-			0.45		to	1.75			8.72		to	7.33
12/31/2020		-		1.52	to		13.00		-		-			0.45		to	1.75			8.60		to	7.21
12/31/2019		-		1.40	to		12.13		-		-			0.45		to	1.75			21.01		to	19.47

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

5. Financial Highlights (continued)


	At December 31									For the Year Ended December 31
Subaccount	Units		Unit Fair Value Corresponding to Lowest to Highest Expense Ratio					Net Assets		Investment Income Ratio*			Expense Ratio Lowest to Highest**						Total Return*** Corresponding to Lowest to Highest Expense Ratio

TA Small/Mid Cap Value Service Class
12/31/2023		2,607	$	3.12	to	$	15.04	$	8,133		-	%		0.45	%	to	1.75	%		11.65	%	to	10.23	%
12/31/2022		2,054		2.79	to		13.64		5,739		0.14			0.45		to	1.75			(8.94	)	to	(10.10	)
12/31/2021		10,669		3.07	to		15.17		32,608		0.27			0.45		to	1.75			27.24		to	25.62
12/31/2020		7,720		2.41	to		12.08		18,549		-			0.45		to	1.75			3.27		to	1.96
12/31/2019		1,126		2.33	to		11.85		2,629		1.10			0.45		to	1.75			24.38		to	22.79
TA T. Rowe Price Small Cap Service Class
12/31/2023		-		4.02	to		16.64		-		-			0.45		to	1.75			20.34		to	18.80
12/31/2022		-		3.34	to		14.01		-		-			0.45		to	1.75			(22.94	)	to	(23.93	)
12/31/2021		-		4.34	to		18.42		-		-			0.45		to	1.75			10.58		to	9.17
12/31/2020		34,609		3.92	to		16.87		135,320		-			0.45		to	1.75			22.75		to	21.18
12/31/2019		10,754		3.20	to		13.92		34,276		-			0.45		to	1.75			31.80		to	30.11
TA WMC US Growth Service Class
12/31/2023		8,333		3.68	to		25.06		30,670		-			0.45		to	1.75			41.09		to	39.29
12/31/2022		-		2.61	to		17.99		-		-			0.45		to	1.75			(31.82	)	to	(32.69	)
12/31/2021		-		3.83	to		26.73		-		-			0.45		to	1.75			19.83		to	18.30
12/31/2020		-		3.19	to		22.60		-		-			0.45		to	1.75			36.32		to	34.59
12/31/2019		19,864		2.34	to		16.79		46,368		-			0.45		to	1.75			39.05		to	37.28


⁽¹⁾		See Footnote 1


*		These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, 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 declaration of dividends by the Mutual Fund in which the subaccounts invest.

**		These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These 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 Mutual Fund have been excluded.

***		These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, 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 variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return.

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

6. Administrative and Mortality and Expense Risk Charges

TLIC deducts a daily administrative charge equal to an annual rate of 0.15% of the daily net assets value of each subaccount for administrative expenses. TLIC also deducts an annual charge during the accumulation phase, not to exceed $30, proportionately from the subaccounts’ unit values. An annual charge ranging from 0.30% to 1.60% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC’s assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the Mutual Fund. Charges for administrative and mortality and expense risk are an expense of the subaccount. Charges reflected above are those currently assessed and may be subject to change. Contract owners should see their actual policy and any related attachments to determine their specific charges.

In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees:


Subaccount		Additional Fund Facilitation Fee Assessed
AB Balanced Hedged Allocation Class B Shares		0.20%
Franklin Allocation Class 4 Shares		0.15%

7. Income Tax

Operations of the Separate Account form a part of TLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code). The operations of the Separate Account are accounted for separately from other operations of TLIC for purposes of federal income taxation. The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TLIC. Under existing federal income tax laws, the income of the Separate Account is not taxable to TLIC, as long as earnings are credited under the variable annuity contracts.

Transamerica Life Insurance Company

Separate Account VA AA

Notes to Financial Statements

December 31, 2023

8. Subsequent Events

The Separate Account has evaluated the financial statements for subsequent events through the date which the financial statements were issued. During this period, there were no subsequent events requiring recognition in the financial statements.

9. Related Parties

Transamerica Capital, Inc. (TCI), a wholesaling broker-dealer, is an affiliated entity of TLIC and an indirect wholly owned subsidiary of Aegon N.V. TCI distributes TLIC’s products through broker-dealers and other financial intermediaries.

The subaccounts invest in the mutual funds listed in Footnote 1. These investments include funds managed by Transamerica Asset Management, Inc. (TAM). Transamerica Fund Services, Inc. (TFS) serves as a transfer agent to TAM, and Aegon USA Asset Management Holding, LLC (AAM) serves as a sub-advisor for certain funds managed by TAM. TAM, TFS and AAM are affiliated entities of TLIC and indirect wholly owned subsidiaries of Aegon N.V. Funds managed by TAM are identified by their fund name, which includes reference to Aegon, Transamerica or both. The Separate Account pays management fees to the related funds as detailed in the fund prospectus.

No charges other than those disclosed in Footnote 6 are deducted for the service rendered by related parties.

Contract owners may transfer funds between available subaccount options within the Separate Account. These transfers are performed at unit value at the time of the transfer.