FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST Large-Cap Growth Portfolio						AST Government Money Market Portfolio						AST Cohen & Steers Realty Portfolio						AST J.P. Morgan Tactical Preservation Portfolio						AST High Yield Portfolio
ASSETS
Investment in the portfolios, at fair value			$	1,419,702,521					$	462,647,956					$	92,964,844					$	693,577,875					$	91,908,178
Net Assets			$	1,419,702,521					$	462,647,956					$	92,964,844					$	693,577,875					$	91,908,178
NET ASSETS, representing:
Accumulation units			$	1,415,769,449					$	462,600,983					$	92,822,457					$	693,547,400					$	91,122,439
Contracts in payout (annuitization) period			3,933,072						46,973						142,387						30,475						785,739
			$	1,419,702,521					$	462,647,956					$	92,964,844					$	693,577,875					$	91,908,178
Units outstanding			20,426,528						39,949,477						1,541,233						27,195,832						3,153,842
Portfolio shares held			19,584,805						462,647,956						5,536,917						29,844,143						7,564,459
Portfolio net asset value per share			$	72.49					$	1.00					$	16.79					$	23.24					$	12.15
Investment in portfolio shares, at cost			$	1,048,809,623					$	462,647,956					$	81,877,462					$	662,190,595					$	86,863,433

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Large-Cap Growth Portfolio						AST Government Money Market Portfolio						AST Cohen & Steers Realty Portfolio						AST J.P. Morgan Tactical Preservation Portfolio						AST High Yield Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	21,866,002					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			17,360,048						5,796,508						1,015,351						8,222,758						1,067,239
NET INVESTMENT INCOME (LOSS)			(17,360,048)						16,069,494						(1,015,351)						(8,222,758)						(1,067,239)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			65,122,158						—						6,463,832						(29,181,823)						(1,861,103)
Net change in unrealized appreciation (depreciation) on investments			404,075,092						—						2,428,425						88,550,277						10,326,956
NET GAIN (LOSS) ON INVESTMENTS			469,197,250						—						8,892,257						59,368,454						8,465,853
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	451,837,202					$	16,069,494					$	7,876,906					$	51,145,696					$	7,398,614

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

A1

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST Small-Cap Value Portfolio						AST Mid-Cap Growth Portfolio						AST Large-Cap Value Portfolio						AST Mid-Cap Value Portfolio						AST Small-Cap Growth Portfolio
ASSETS
Investment in the portfolios, at fair value			$	262,234,838					$	311,683,578					$	764,191,186					$	261,345,363					$	257,185,134
Net Assets			$	262,234,838					$	311,683,578					$	764,191,186					$	261,345,363					$	257,185,134
NET ASSETS, representing:
Accumulation units			$	260,998,475					$	310,951,594					$	760,082,139					$	260,016,861					$	256,841,663
Contracts in payout (annuitization) period			1,236,363						731,984						4,109,047						1,328,502						343,471
			$	262,234,838					$	311,683,578					$	764,191,186					$	261,345,363					$	257,185,134
Units outstanding			5,106,084						15,214,858						18,579,752						3,771,102						4,840,214
Portfolio shares held			6,920,951						21,159,781						15,973,896						5,457,201						3,685,129
Portfolio net asset value per share			$	37.89					$	14.73					$	47.84					$	47.89					$	69.79
Investment in portfolio shares, at cost			$	216,121,449					$	241,105,954					$	717,564,674					$	184,583,279					$	238,251,586

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Small-Cap Value Portfolio						AST Mid-Cap Growth Portfolio						AST Large-Cap Value Portfolio						AST Mid-Cap Value Portfolio						AST Small-Cap Growth Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	—					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			3,160,948						3,555,368						10,303,506						3,126,724						3,126,590
NET INVESTMENT INCOME (LOSS)			(3,160,948)						(3,555,368)						(10,303,506)						(3,126,724)						(3,126,590)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			18,358,350						24,730,945						(3,216,809)						20,249,873						13,646,722
Net change in unrealized appreciation (depreciation) on investments			13,857,459						32,976,810						71,543,741						8,124,030						24,734,492
NET GAIN (LOSS) ON INVESTMENTS			32,215,809						57,707,755						68,326,932						28,373,903						38,381,214
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	29,054,861					$	54,152,387					$	58,023,426					$	25,247,179					$	35,254,624

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

A2

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST T. Rowe Price Natural Resources Portfolio						AST T. Rowe Price Asset Allocation Portfolio						AST International Value Portfolio**						AST MFS Global Equity Portfolio						AST J.P. Morgan International Equity Portfolio**
ASSETS
Investment in the portfolios, at fair value			$	73,314,168					$	2,239,747,218					$	—					$	129,280,428					$	—
Net Assets			$	73,314,168					$	2,239,747,218					$	—					$	129,280,428					$	—
NET ASSETS, representing:
Accumulation units			$	73,284,949					$	2,239,733,431					$	—					$	128,587,707					$	—
Contracts in payout (annuitization) period			29,219						13,787						—						692,721						—
			$	73,314,168					$	2,239,747,218					$	—					$	129,280,428					$	—
Units outstanding			1,587,071						59,164,342						—						3,085,676						—
Portfolio shares held			2,501,336						54,047,954						—						4,295,031						—
Portfolio net asset value per share			$	29.31					$	41.44					$	—					$	30.10					$	—
Investment in portfolio shares, at cost			$	68,367,070					$	1,988,141,139					$	—					$	101,857,352					$	—

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST T. Rowe Price Natural Resources Portfolio						AST T. Rowe Price Asset Allocation Portfolio						AST International Value Portfolio						AST MFS Global Equity Portfolio						AST J.P. Morgan International Equity Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						3/10/2023**						12/31/2023						3/10/2023**
INVESTMENT INCOME
Dividend income			$	—					$	—					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			822,142						27,256,286						215,180						1,460,040						244,879
NET INVESTMENT INCOME (LOSS)			(822,142)						(27,256,286)						(215,180)						(1,460,040)						(244,879)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			10,915,290						130,307,875						13,921,878						8,707,662						15,135,052
Net change in unrealized appreciation (depreciation) on investments			(9,902,187)						199,260,312						(8,629,070)						7,336,218						(10,711,378)
NET GAIN (LOSS) ON INVESTMENTS			1,013,103						329,568,187						5,292,808						16,043,880						4,423,674
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	190,961					$	302,311,901					$	5,077,628					$	14,583,840					$	4,178,795
**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

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

A3

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST International Equity Portfolio						AST Wellington Management Hedged Equity Portfolio**						AST Capital Growth Asset Allocation Portfolio						AST Academic Strategies Asset Allocation Portfolio						AST Balanced Asset Allocation Portfolio
ASSETS
Investment in the portfolios, at fair value			$	405,074,671					$	—					$	3,301,240,302					$	854,987,409					$	2,065,663,567
Net Assets			$	405,074,671					$	—					$	3,301,240,302					$	854,987,409					$	2,065,663,567
NET ASSETS, representing:
Accumulation units			$	403,881,602					$	—					$	3,300,781,346					$	854,637,665					$	2,065,663,567
Contracts in payout (annuitization) period			1,193,069						—						458,956						349,744						—
			$	405,074,671					$	—					$	3,301,240,302					$	854,987,409					$	2,065,663,567
Units outstanding			11,667,841						—						132,345,076						54,708,009						91,293,401
Portfolio shares held			15,903,992						—						116,528,073						47,446,582						82,494,551
Portfolio net asset value per share			$	25.47					$	—					$	28.33					$	18.02					$	25.04
Investment in portfolio shares, at cost			$	337,540,233					$	—					$	2,172,718,055					$	763,903,082					$	1,522,628,093

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST International Equity Portfolio						AST Wellington Management Hedged Equity Portfolio						AST Capital Growth Asset Allocation Portfolio						AST Academic Strategies Asset Allocation Portfolio						AST Balanced Asset Allocation Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						2/24/2023**						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	—					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			4,849,112						423,840						43,085,823						11,745,216						25,417,122
NET INVESTMENT INCOME (LOSS)			(4,849,112)						(423,840)						(43,085,823)						(11,745,216)						(25,417,122)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			30,519,888						28,353,023						240,617,148						57,614,264						198,150,292
Net change in unrealized appreciation (depreciation) on investments			25,304,322						(26,605,611)						282,597,611						21,541,563						90,346,605
NET GAIN (LOSS) ON INVESTMENTS			55,824,210						1,747,412						523,214,759						79,155,827						288,496,897
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	50,975,098					$	1,323,572					$	480,128,936					$	67,410,611					$	263,079,775

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

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

A4

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST Preservation Asset Allocation Portfolio						AST J.P. Morgan Global Thematic Portfolio						AST Core Fixed Income Portfolio						Davis Value Portfolio						Columbia Variable Portfolio - Small Company Growth Fund (Class 1)
ASSETS
Investment in the portfolios, at fair value			$	838,109,769					$	375,647,192					$	1,290,863,751					$	873,935					$	382,999
Net Assets			$	838,109,769					$	375,647,192					$	1,290,863,751					$	873,935					$	382,999
NET ASSETS, representing:
Accumulation units			$	838,109,769					$	375,647,192					$	1,286,414,327					$	873,935					$	382,999
Contracts in payout (annuitization) period			—						—						4,449,424						—						—
			$	838,109,769					$	375,647,192					$	1,290,863,751					$	873,935					$	382,999
Units outstanding			46,769,209						19,350,209						98,670,593						28,255						5,580
Portfolio shares held			42,457,435						17,342,899						97,570,956						140,054						32,875
Portfolio net asset value per share			$	19.74					$	21.66					$	13.23					$	6.24					$	11.65
Investment in portfolio shares, at cost			$	745,533,925					$	311,061,360					$	1,321,525,236					$	1,028,875					$	495,694

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Preservation Asset Allocation Portfolio						AST J.P. Morgan Global Thematic Portfolio						AST Core Fixed Income Portfolio						Davis Value Portfolio						Columbia Variable Portfolio - Small Company Growth Fund (Class 1)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	—					$	—					$	10,609					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			11,365,682						4,171,659						15,945,519						11,008						3,532
NET INVESTMENT INCOME (LOSS)			(11,365,682)						(4,171,659)						(15,945,519)						(399)						(3,532)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						84,749						—
Net realized gain (loss) on shares redeemed			51,266,874						27,284,010						(41,236,219)						(36,774)						(7,422)
Net change in unrealized appreciation (depreciation) on investments			37,502,747						17,321,225						112,336,739						164,517						90,164
NET GAIN (LOSS) ON INVESTMENTS			88,769,621						44,605,235						71,100,520						212,492						82,742
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	77,403,939					$	40,433,576					$	55,155,001					$	212,093					$	79,210

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

A5

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			PSF International Growth Portfolio (Class I)**						ProFund VP Asia 30						ProFund VP Banks						ProFund VP Bear						ProFund VP Biotechnology
ASSETS
Investment in the portfolios, at fair value			$	—					$	3,630,872					$	3,049,063					$	1,059,505					$	5,924,300
Net Assets			$	—					$	3,630,872					$	3,049,063					$	1,059,505					$	5,924,300
NET ASSETS, representing:
Accumulation units			$	—					$	3,630,872					$	3,049,063					$	1,059,451					$	5,924,300
Contracts in payout (annuitization) period			—						—						—						54						—
			$	—					$	3,630,872					$	3,049,063					$	1,059,505					$	5,924,300
Units outstanding			—						167,046						277,989						1,385,134						138,930
Portfolio shares held			—						102,336						111,442						73,628						88,740
Portfolio net asset value per share			$	—					$	35.48					$	27.36					$	14.39					$	66.76
Investment in portfolio shares, at cost			$	—					$	3,794,584					$	2,607,697					$	1,152,636					$	6,551,071

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			PSF International Growth Portfolio (Class I)						ProFund VP Asia 30						ProFund VP Banks						ProFund VP Bear						ProFund VP Biotechnology
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			3/10/2023**						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	4,199					$	32,675					$	2,603					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			6,785						51,465						29,426						14,245						63,687
NET INVESTMENT INCOME (LOSS)			(6,785)						(47,266)						3,249						(11,642)						(63,687)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						160,387						—						—						811,731
Net realized gain (loss) on shares redeemed			276,409						(1,402,718)						(445,649)						(129,011)						(557,863)
Net change in unrealized appreciation (depreciation) on investments			(160,332)						1,398,858						632,748						(111,452)						224,696
NET GAIN (LOSS) ON INVESTMENTS			116,077						156,527						187,099						(240,463)						478,564
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	109,292					$	109,261					$	190,348					$	(252,105)					$	414,877

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

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

A6

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			ProFund VP Materials						ProFund VP UltraBull						ProFund VP Bull						ProFund VP Consumer Discretionary						ProFund VP Consumer Staples
ASSETS
Investment in the portfolios, at fair value			$	4,222,639					$	6,628,644					$	13,517,406					$	7,582,244					$	5,928,605
Net Assets			$	4,222,639					$	6,628,644					$	13,517,406					$	7,582,244					$	5,928,605
NET ASSETS, representing:
Accumulation units			$	4,222,639					$	6,628,644					$	13,517,406					$	7,582,244					$	5,928,605
Contracts in payout (annuitization) period			—						—						—						—						—
			$	4,222,639					$	6,628,644					$	13,517,406					$	7,582,244					$	5,928,605
Units outstanding			137,287						137,722						393,327						228,049						210,920
Portfolio shares held			49,399						220,808						267,513						114,882						134,344
Portfolio net asset value per share			$	85.48					$	30.02					$	50.53					$	66.00					$	44.13
Investment in portfolio shares, at cost			$	4,016,536					$	5,642,537					$	12,274,233					$	6,927,651					$	6,991,178

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP Materials						ProFund VP UltraBull						ProFund VP Bull						ProFund VP Consumer Discretionary						ProFund VP Consumer Staples
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	19,673					$	—					$	—					$	—					$	13,341
EXPENSES
Charges for mortality and expense risk,
and for administration			52,006						78,587						176,743						82,785						84,723
NET INVESTMENT INCOME (LOSS)			(32,333)						(78,587)						(176,743)						(82,785)						(71,382)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						2,343,346						279,532						1,019,528
Net realized gain (loss) on shares redeemed			(19,802)						1,063,051						(899,250)						(771,141)						(905,707)
Net change in unrealized appreciation (depreciation) on investments			489,688						1,210,615						1,542,772						1,968,476						90,014
NET GAIN (LOSS) ON INVESTMENTS			469,886						2,273,666						2,986,868						1,476,867						203,835
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	437,553					$	2,195,079					$	2,810,125					$	1,394,082					$	132,453

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

A7

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			ProFund VP Energy						ProFund VP Europe 30						ProFund VP Financials						ProFund VP U.S. Government Plus						ProFund VP Health Care
ASSETS
Investment in the portfolios, at fair value			$	9,473,609					$	4,760,286					$	8,227,915					$	3,362,356					$	18,416,449
Net Assets			$	9,473,609					$	4,760,286					$	8,227,915					$	3,362,356					$	18,416,449
NET ASSETS, representing:
Accumulation units			$	9,450,330					$	4,757,937					$	8,227,915					$	3,362,356					$	18,375,185
Contracts in payout (annuitization) period			23,279						2,349						—						—						41,264
			$	9,473,609					$	4,760,286					$	8,227,915					$	3,362,356					$	18,416,449
Units outstanding			376,853						305,520						463,767						241,662						525,764
Portfolio shares held			224,546						183,795						179,140						264,336						276,067
Portfolio net asset value per share			$	42.19					$	25.90					$	45.93					$	12.72					$	66.71
Investment in portfolio shares, at cost			$	9,568,301					$	4,374,591					$	8,147,842					$	3,098,099					$	19,993,772

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP Energy						ProFund VP Europe 30						ProFund VP Financials						ProFund VP U.S. Government Plus						ProFund VP Health Care
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	265,180					$	102,126					$	37,468					$	142,365					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			145,447						62,968						116,523						47,947						251,494
NET INVESTMENT INCOME (LOSS)			119,733						39,158						(79,055)						94,418						(251,494)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						338,878						—						2,189,250
Net realized gain (loss) on shares redeemed			814,912						(155,196)						(386,625)						(635,004)						(487,005)
Net change in unrealized appreciation (depreciation) on investments			(1,446,828)						800,405						1,006,272						276,261						(1,657,301)
NET GAIN (LOSS) ON INVESTMENTS			(631,916)						645,209						958,525						(358,743)						44,944
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	(512,183)					$	684,367					$	879,470					$	(264,325)					$	(206,550)

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

A8

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			ProFund Access VP High Yield Fund						ProFund VP Industrials						ProFund VP Internet						ProFund VP Japan						ProFund VP Precious Metals
ASSETS
Investment in the portfolios, at fair value			$	2,152,308					$	6,075,245					$	5,568,954					$	3,694,770					$	10,184,075
Net Assets			$	2,152,308					$	6,075,245					$	5,568,954					$	3,694,770					$	10,184,075
NET ASSETS, representing:
Accumulation units			$	2,152,308					$	6,075,245					$	5,568,954					$	3,694,770					$	10,173,560
Contracts in payout (annuitization) period			—						—						—						—						10,515
			$	2,152,308					$	6,075,245					$	5,568,954					$	3,694,770					$	10,184,075
Units outstanding			98,362						166,351						51,845						187,671						1,092,183
Portfolio shares held			86,962						68,523						264,558						56,660						400,948
Portfolio net asset value per share			$	24.75					$	88.66					$	21.05					$	65.21					$	25.40
Investment in portfolio shares, at cost			$	2,204,737					$	5,735,987					$	5,044,402					$	3,190,496					$	9,913,270

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund Access VP High Yield Fund						ProFund VP Industrials						ProFund VP Internet						ProFund VP Japan						ProFund VP Precious Metals
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	113,317					$	—					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			26,439						78,092						57,463						48,284						106,909
NET INVESTMENT INCOME (LOSS)			86,878						(78,092)						(57,463)						(48,284)						(106,909)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						490,212						787,628						—						—
Net realized gain (loss) on shares redeemed			(91,544)						(32,008)						(3,240,333)						105,391						331,255
Net change in unrealized appreciation (depreciation) on investments			193,269						388,233						4,309,992						902,333						(349,686)
NET GAIN (LOSS) ON INVESTMENTS			101,725						846,437						1,857,287						1,007,724						(18,431)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	188,603					$	768,345					$	1,799,824					$	959,440					$	(125,340)

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

A9

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			ProFund VP Mid-Cap Growth						ProFund VP Mid-Cap Value						ProFund VP Pharmaceuticals						ProFund VP Real Estate						ProFund VP Rising Rates Opportunity
ASSETS
Investment in the portfolios, at fair value			$	11,362,622					$	9,310,774					$	1,436,385					$	4,548,459					$	1,825,966
Net Assets			$	11,362,622					$	9,310,774					$	1,436,385					$	4,548,459					$	1,825,966
NET ASSETS, representing:
Accumulation units			$	11,362,622					$	9,306,816					$	1,436,385					$	4,548,459					$	1,825,966
Contracts in payout (annuitization) period			—						3,958						—						—						—
			$	11,362,622					$	9,310,774					$	1,436,385					$	4,548,459					$	1,825,966
Units outstanding			327,943						265,043						78,455						146,928						1,276,124
Portfolio shares held			311,305						221,316						41,767						95,939						40,849
Portfolio net asset value per share			$	36.50					$	42.07					$	34.39					$	47.41					$	44.70
Investment in portfolio shares, at cost			$	10,425,922					$	9,017,386					$	1,498,498					$	5,382,744					$	1,906,858

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP Mid-Cap Growth						ProFund VP Mid-Cap Value						ProFund VP Pharmaceuticals						ProFund VP Real Estate						ProFund VP Rising Rates Opportunity
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	26,143					$	8,901					$	47,279					$	4,610
EXPENSES
Charges for mortality and expense risk,
and for administration			150,748						125,413						19,951						51,873						38,794
NET INVESTMENT INCOME (LOSS)			(150,748)						(99,270)						(11,050)						(4,594)						(34,184)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			57,671						541,152						33,088						825,682						—
Net realized gain (loss) on shares redeemed			(1,660,820)						(632,454)						(216,483)						(695,173)						92,787
Net change in unrealized appreciation (depreciation) on investments			3,072,890						1,161,285						41,360						222,466						(149,665)
NET GAIN (LOSS) ON INVESTMENTS			1,469,741						1,069,983						(142,035)						352,975						(56,878)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	1,318,993					$	970,713					$	(153,085)					$	348,381					$	(91,062)

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

A10

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			ProFund VP NASDAQ-100						ProFund VP Semiconductor						ProFund VP Small-Cap Growth						ProFund VP Short Mid-Cap						ProFund VP Short NASDAQ-100
ASSETS
Investment in the portfolios, at fair value			$	25,324,876					$	8,549,406					$	10,132,274					$	47,479					$	889,967
Net Assets			$	25,324,876					$	8,549,406					$	10,132,274					$	47,479					$	889,967
NET ASSETS, representing:
Accumulation units			$	25,213,901					$	8,549,406					$	10,132,274					$	47,479					$	889,967
Contracts in payout (annuitization) period			110,975						—						—						—						—
			$	25,324,876					$	8,549,406					$	10,132,274					$	47,479					$	889,967
Units outstanding			539,932						156,168						261,184						71,972						4,939,310
Portfolio shares held			437,617						67,627						337,517						6,373						72,414
Portfolio net asset value per share			$	57.87					$	126.42					$	30.02					$	7.45					$	12.29
Investment in portfolio shares, at cost			$	21,183,507					$	6,828,138					$	9,416,114					$	48,213					$	941,639

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP NASDAQ-100						ProFund VP Semiconductor						ProFund VP Small-Cap Growth						ProFund VP Short Mid-Cap						ProFund VP Short NASDAQ-100
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	—					$	—					$	859					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			290,267						87,047						127,895						2,467						15,756
NET INVESTMENT INCOME (LOSS)			(290,267)						(87,047)						(127,895)						(1,608)						(15,756)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			109,919						66,963						279,458						—						1,339
Net realized gain (loss) on shares redeemed			3,553,714						1,747,176						(1,722,906)						(7,470)						(388,157)
Net change in unrealized appreciation (depreciation) on investments			4,881,473						1,957,879						2,797,864						(943)						(111,542)
NET GAIN (LOSS) ON INVESTMENTS			8,545,106						3,772,018						1,354,416						(8,413)						(498,360)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	8,254,839					$	3,684,971					$	1,226,521					$	(10,021)					$	(514,116)

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

A11

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			ProFund VP Short Small-Cap						ProFund VP Small-Cap Value						ProFund VP Technology						ProFund VP Communication Services						ProFund VP UltraMid-Cap
ASSETS
Investment in the portfolios, at fair value			$	262,650					$	7,493,234					$	8,818,346					$	3,299,597					$	7,009,960
Net Assets			$	262,650					$	7,493,234					$	8,818,346					$	3,299,597					$	7,009,960
NET ASSETS, representing:
Accumulation units			$	262,650					$	7,493,234					$	8,818,346					$	3,299,597					$	7,004,958
Contracts in payout (annuitization) period			—						—						—						—						5,002
			$	262,650					$	7,493,234					$	8,818,346					$	3,299,597					$	7,009,960
Units outstanding			416,156						252,265						230,446						274,575						125,500
Portfolio shares held			11,890						174,424						127,470						86,513						199,999
Portfolio net asset value per share			$	22.09					$	42.96					$	69.18					$	38.14					$	35.05
Investment in portfolio shares, at cost			$	298,100					$	7,185,475					$	7,760,818					$	2,838,990					$	6,417,995

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP Short Small-Cap						ProFund VP Small-Cap Value						ProFund VP Technology						ProFund VP Communication Services						ProFund VP UltraMid-Cap
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	600					$	1,320					$	—					$	24,868					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			4,136						96,925						87,691						34,256						70,487
NET INVESTMENT INCOME (LOSS)			(3,536)						(95,605)						(87,691)						(9,388)						(70,487)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			12,026						327,732						826,683						—						—
Net realized gain (loss) on shares redeemed			(51,377)						(1,163,323)						1,352,111						29,474						(2,181,014)
Net change in unrealized appreciation (depreciation) on investments			(41,046)						1,684,819						1,219,583						638,143						3,191,460
NET GAIN (LOSS) ON INVESTMENTS			(80,397)						849,228						3,398,377						667,617						1,010,446
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	(83,933)					$	753,623					$	3,310,686					$	658,229					$	939,959

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

A12

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			ProFund VP UltraNASDAQ-100						ProFund VP UltraSmall-Cap						ProFund VP Utilities						ProFund VP Large-Cap Growth						ProFund VP Large-Cap Value
ASSETS
Investment in the portfolios, at fair value			$	64,197,565					$	4,305,416					$	10,225,316					$	16,042,134					$	10,293,601
Net Assets			$	64,197,565					$	4,305,416					$	10,225,316					$	16,042,134					$	10,293,601
NET ASSETS, representing:
Accumulation units			$	64,197,565					$	4,305,416					$	10,225,316					$	15,975,795					$	10,293,601
Contracts in payout (annuitization) period			—						—						—						66,339						—
			$	64,197,565					$	4,305,416					$	10,225,316					$	16,042,134					$	10,293,601
Units outstanding			1,864,486						162,604						390,622						400,135						398,412
Portfolio shares held			2,074,905						311,761						273,185						310,834						204,319
Portfolio net asset value per share			$	30.94					$	13.81					$	37.43					$	51.61					$	50.38
Investment in portfolio shares, at cost			$	39,105,266					$	3,741,229					$	11,292,987					$	15,991,853					$	9,435,147

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP UltraNASDAQ-100						ProFund VP UltraSmall-Cap						ProFund VP Utilities						ProFund VP Large-Cap Growth						ProFund VP Large-Cap Value
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	—					$	163,036					$	—					$	46,905
EXPENSES
Charges for mortality and expense risk,
and for administration			525,868						47,555						170,098						186,017						133,401
NET INVESTMENT INCOME (LOSS)			(525,868)						(47,555)						(7,062)						(186,017)						(86,496)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						2,452,652						663,985
Net realized gain (loss) on shares redeemed			1,368,675						(217,817)						155,269						(2,994,074)						(12,339)
Net change in unrealized appreciation (depreciation) on investments			31,328,810						941,463						(1,585,410)						3,820,417						1,039,628
NET GAIN (LOSS) ON INVESTMENTS			32,697,485						723,646						(1,430,141)						3,278,995						1,691,274
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	32,171,617					$	676,091					$	(1,437,203)					$	3,092,978					$	1,604,778

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

A13

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			Rydex VT Nova Fund						Rydex VT NASDAQ-100® Fund						Rydex VT Inverse S&P 500® Strategy Fund						Invesco V.I. Health Care Fund (Series I)						Invesco V.I. Technology Fund (Series I)
ASSETS
Investment in the portfolios, at fair value			$	1,383,080					$	9,805,788					$	7,020					$	17,162,161					$	18,042,827
Net Assets			$	1,383,080					$	9,805,788					$	7,020					$	17,162,161					$	18,042,827
NET ASSETS, representing:
Accumulation units			$	1,383,080					$	9,805,788					$	7,020					$	17,126,617					$	18,039,320
Contracts in payout (annuitization) period			—						—						—						35,544						3,507
			$	1,383,080					$	9,805,788					$	7,020					$	17,162,161					$	18,042,827
Units outstanding			45,762						223,485						8,266						419,693						810,212
Portfolio shares held			8,624						138,285						234						662,376						975,288
Portfolio net asset value per share			$	160.37					$	70.91					$	30.03					$	25.91					$	18.50
Investment in portfolio shares, at cost			$	774,036					$	5,722,436					$	9,081					$	18,232,888					$	20,731,020

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			Rydex VT Nova Fund						Rydex VT NASDAQ-100® Fund						Rydex VT Inverse S&P 500® Strategy Fund						Invesco V.I. Health Care Fund (Series I)						Invesco V.I. Technology Fund (Series I)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	—					$	316					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			16,857						120,333						153						222,775						212,388
NET INVESTMENT INCOME (LOSS)			(16,857)						(120,333)						163						(222,775)						(212,388)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			75,927						482,667						(12,582)						(184,878)						(910,209)
Net change in unrealized appreciation (depreciation) on investments			289,217						3,105,263						10,473						636,646						7,094,227
NET GAIN (LOSS) ON INVESTMENTS			365,144						3,587,930						(2,109)						451,768						6,184,018
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	348,287					$	3,467,597					$	(1,946)					$	228,993					$	5,971,630

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

A14

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			Allspring VT Index Asset Allocation Fund (Class 2)						Allspring VT International Equity Fund (Class 2)						Allspring VT Small Cap Growth Fund (Class 2)						AST Prudential Growth Allocation Portfolio						AST Advanced Strategies Portfolio
ASSETS
Investment in the portfolios, at fair value			$	14,159,492					$	194,007					$	910,925					$	2,684,318,482					$	1,033,799,131
Net Assets			$	14,159,492					$	194,007					$	910,925					$	2,684,318,482					$	1,033,799,131
NET ASSETS, representing:
Accumulation units			$	14,159,492					$	194,007					$	910,925					$	2,683,994,630					$	1,033,799,131
Contracts in payout (annuitization) period			—						—						—						323,852						—
			$	14,159,492					$	194,007					$	910,925					$	2,684,318,482					$	1,033,799,131
Units outstanding			219,391						17,072						26,820						138,758,842						44,733,006
Portfolio shares held			758,003						98,983						115,894						123,303,559						39,746,218
Portfolio net asset value per share			$	18.68					$	1.96					$	7.86					$	21.77					$	26.01
Investment in portfolio shares, at cost			$	13,620,866					$	212,019					$	1,161,462					$	2,307,448,980					$	769,650,260

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			Allspring VT Index Asset Allocation Fund (Class 2)						Allspring VT International Equity Fund (Class 2)						Allspring VT Small Cap Growth Fund (Class 2)						AST Prudential Growth Allocation Portfolio						AST Advanced Strategies Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	131,351					$	2,672					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			192,292						2,686						13,909						30,225,777						13,415,754
NET INVESTMENT INCOME (LOSS)			(60,941)						(14)						(13,909)						(30,225,777)						(13,415,754)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			426,035						—						—						—						—
Net realized gain (loss) on shares redeemed			547,344						(8,330)						(38,440)						172,314,788						78,638,375
Net change in unrealized appreciation (depreciation) on investments			1,013,889						32,277						74,106						229,286,875						55,448,726
NET GAIN (LOSS) ON INVESTMENTS			1,987,268						23,947						35,666						401,601,663						134,087,101
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	1,926,327					$	23,933					$	21,757					$	371,375,886					$	120,671,347

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

A15

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST Investment Grade Bond Portfolio						AST Cohen & Steers Global Realty Portfolio**						AST Emerging Markets Equity Portfolio						Allspring VT Discovery All Cap Growth Fund (Class 2)						Allspring VT Discovery All Cap Growth Fund (Class 1)
ASSETS
Investment in the portfolios, at fair value			$	2,714,067,613					$	—					$	58,772,216					$	1,634,268					$	12,638,558
Net Assets			$	2,714,067,613					$	—					$	58,772,216					$	1,634,268					$	12,638,558
NET ASSETS, representing:
Accumulation units			$	2,714,067,613					$	—					$	58,772,216					$	1,634,268					$	12,616,454
Contracts in payout (annuitization) period			—						—						—						—						22,104
			$	2,714,067,613					$	—					$	58,772,216					$	1,634,268					$	12,638,558
Units outstanding			155,507,385						—						6,278,240						37,517						278,807
Portfolio shares held			311,961,795						—						6,508,551						68,408						499,548
Portfolio net asset value per share			$	8.70					$	—					$	9.03					$	23.89					$	25.30
Investment in portfolio shares, at cost			$	2,549,333,836					$	—					$	53,923,374					$	1,844,097					$	15,024,962

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Investment Grade Bond Portfolio						AST Cohen & Steers Global Realty Portfolio						AST Emerging Markets Equity Portfolio						Allspring VT Discovery All Cap Growth Fund (Class 2)						Allspring VT Discovery All Cap Growth Fund (Class 1)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						1/20/2023**						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	—					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			41,064,037						10,216						623,878						21,074						146,853
NET INVESTMENT INCOME (LOSS)			(41,064,037)						(10,216)						(623,878)						(21,074)						(146,853)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						157,354						1,169,717
Net realized gain (loss) on shares redeemed			127,546,296						831,555						(3,694,267)						(5,352)						(645,666)
Net change in unrealized appreciation (depreciation) on investments			134,581,337						158,560						9,978,114						272,320						2,788,788
NET GAIN (LOSS) ON INVESTMENTS			262,127,633						990,115						6,283,847						424,322						3,312,839
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	221,063,596					$	979,899					$	5,659,969					$	403,248					$	3,165,986

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

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

A16

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			Allspring VT Small Cap Growth Fund (Class 1)						Allspring VT International Equity Fund (Class 1)						AST Bond Portfolio 2022**						AST Quantitative Modeling Portfolio						AST BlackRock Global Strategies Portfolio**
ASSETS
Investment in the portfolios, at fair value			$	8,901,060					$	6,410,366					$	—					$	36,050,863					$	—
Net Assets			$	8,901,060					$	6,410,366					$	—					$	36,050,863					$	—
NET ASSETS, representing:
Accumulation units			$	8,875,906					$	6,280,594					$	—					$	36,050,863					$	—
Contracts in payout (annuitization) period			25,154						129,772						—						—						—
			$	8,901,060					$	6,410,366					$	—					$	36,050,863					$	—
Units outstanding			283,991						299,487						—						1,802,310						—
Portfolio shares held			1,060,913						3,391,728						—						1,549,908						—
Portfolio net asset value per share			$	8.39					$	1.89					$	—					$	23.26					$	—
Investment in portfolio shares, at cost			$	11,652,842					$	5,896,487					$	—					$	25,504,736					$	—

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			Allspring VT Small Cap Growth Fund (Class 1)						Allspring VT International Equity Fund (Class 1)						AST Bond Portfolio 2022						AST Quantitative Modeling Portfolio						AST BlackRock Global Strategies Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						1/3/2023**						12/31/2023						1/20/2023**
INVESTMENT INCOME
Dividend income			$	—					$	106,969					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			117,109						76,398						15						423,611						43,769
NET INVESTMENT INCOME (LOSS)			(117,109)						30,571						(15)						(423,611)						(43,769)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			(433,437)						10,801						1,049						2,613,041						3,529,185
Net change in unrealized appreciation (depreciation) on investments			816,166						766,222						(1,010)						3,229,963						(1,663,768)
NET GAIN (LOSS) ON INVESTMENTS			382,729						777,023						39						5,843,004						1,865,417
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	265,620					$	807,594					$	24					$	5,419,393					$	1,821,648

**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

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

A17

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			Invesco V.I. Diversified Dividend Fund (Series I)						Columbia Variable Portfolio - U.S. Government Mortgage Fund (Class 1)						Columbia Variable Portfolio - Large Cap Growth Fund (Class 1)						Allspring VT Opportunity Fund (Class 1)						Allspring VT Opportunity Fund (Class 2)
ASSETS
Investment in the portfolios, at fair value			$	15,074,281					$	131,151					$	5,678,000					$	2,063,275					$	4,909,647
Net Assets			$	15,074,281					$	131,151					$	5,678,000					$	2,063,275					$	4,909,647
NET ASSETS, representing:
Accumulation units			$	15,058,405					$	131,151					$	5,678,000					$	2,063,275					$	4,909,647
Contracts in payout (annuitization) period			15,876						—						—						—						—
			$	15,074,281					$	131,151					$	5,678,000					$	2,063,275					$	4,909,647
Units outstanding			584,521						12,633						129,742						54,901						134,745
Portfolio shares held			621,876						14,687						152,307						79,479						188,905
Portfolio net asset value per share			$	24.24					$	8.93					$	37.28					$	25.96					$	25.99
Investment in portfolio shares, at cost			$	15,773,170					$	151,852					$	1,543,724					$	1,980,278					$	4,680,673

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			Invesco V.I. Diversified Dividend Fund (Series I)						Columbia Variable Portfolio - U.S. Government Mortgage Fund (Class 1)						Columbia Variable Portfolio - Large Cap Growth Fund (Class 1)						Allspring VT Opportunity Fund (Class 1)						Allspring VT Opportunity Fund (Class 2)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	290,520					$	3,763					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			187,455						1,352						51,763						27,401						64,679
NET INVESTMENT INCOME (LOSS)			103,065						2,411						(51,763)						(27,401)						(64,679)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			1,196,451						—						—						162,753						388,880
Net realized gain (loss) on shares redeemed			(163,949)						(3,355)						615,004						6,020						153,921
Net change in unrealized appreciation (depreciation) on investments			(55,956)						7,110						1,205,844						297,669						546,811
NET GAIN (LOSS) ON INVESTMENTS			976,546						3,755						1,820,848						466,442						1,089,612
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	1,079,611					$	6,166					$	1,769,085					$	439,041					$	1,024,933

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

A18

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2023						AST MFS Growth Allocation Portfolio**						AST Western Asset Emerging Markets Debt Portfolio**						AST Bond Portfolio 2024						AST ClearBridge Dividend Growth Portfolio
ASSETS
Investment in the portfolios, at fair value			$	273,100					$	—					$	—					$	40,432,482					$	63,381,079
Net Assets			$	273,100					$	—					$	—					$	40,432,482					$	63,381,079
NET ASSETS, representing:
Accumulation units			$	273,100					$	—					$	—					$	40,432,482					$	63,381,079
Contracts in payout (annuitization) period			—						—						—						—						—
			$	273,100					$	—					$	—					$	40,432,482					$	63,381,079
Units outstanding			26,360						—						—						4,054,049						2,353,651
Portfolio shares held			21,040						—						—						3,308,714						2,057,159
Portfolio net asset value per share			$	12.98					$	—					$	—					$	12.22					$	30.81
Investment in portfolio shares, at cost			$	269,277					$	—					$	—					$	39,023,773					$	53,832,936

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2023						AST MFS Growth Allocation Portfolio						AST Western Asset Emerging Markets Debt Portfolio						AST Bond Portfolio 2024						AST ClearBridge Dividend Growth Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						2/24/2023**						3/10/2023**						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	—					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			547,678						278,656						2,665						526,599						713,421
NET INVESTMENT INCOME (LOSS)			(547,678)						(278,656)						(2,665)						(526,599)						(713,421)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			1,348,247						16,176,933						(93,333)						448,618						5,110,002
Net change in unrealized appreciation (depreciation) on investments			343,201						(12,090,121)						162,145						1,426,921						2,597,402
NET GAIN (LOSS) ON INVESTMENTS			1,691,448						4,086,812						68,812						1,875,539						7,707,404
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	1,143,770					$	3,808,156					$	66,147					$	1,348,940					$	6,993,983
**Subaccount was no longer available for investment as of the date presented in the Statement of Operations.

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

A19

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			Columbia Variable Portfolio - Government Money Market Fund (Class 1)						Columbia Variable Portfolio - Income Opportunities Fund (Class 1)						AST Large-Cap Core Portfolio						AST Bond Portfolio 2025						AST Bond Portfolio 2026
ASSETS
Investment in the portfolios, at fair value			$	2,685,586					$	122,787					$	127,098,506					$	2,830,105					$	18,838,353
Net Assets			$	2,685,586					$	122,787					$	127,098,506					$	2,830,105					$	18,838,353
NET ASSETS, representing:
Accumulation units			$	2,685,586					$	122,787					$	126,106,698					$	2,830,105					$	18,838,353
Contracts in payout (annuitization) period			—						—						991,808						—						—
			$	2,685,586					$	122,787					$	127,098,506					$	2,830,105					$	18,838,353
Units outstanding			270,879						8,868						4,607,491						249,967						1,901,329
Portfolio shares held			2,685,586						19,337						4,049,013						204,932						1,623,996
Portfolio net asset value per share			$	1.00					$	6.35					$	31.39					$	13.81					$	11.60
Investment in portfolio shares, at cost			$	2,685,586					$	144,509					$	115,801,356					$	2,700,463					$	19,584,102

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			Columbia Variable Portfolio - Government Money Market Fund (Class 1)						Columbia Variable Portfolio - Income Opportunities Fund (Class 1)						AST Large-Cap Core Portfolio						AST Bond Portfolio 2025						AST Bond Portfolio 2026
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	125,724					$	6,481					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			27,289						1,256						1,396,165						70,539						358,434
NET INVESTMENT INCOME (LOSS)			98,435						5,225						(1,396,165)						(70,539)						(358,434)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			—						(5,659)						(1,038,538)						66,986						(578,762)
Net change in unrealized appreciation (depreciation) on investments			—						12,972						25,174,526						156,273						1,676,432
NET GAIN (LOSS) ON INVESTMENTS			—						7,313						24,135,988						223,259						1,097,670
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	98,435					$	12,538					$	22,739,823					$	152,720					$	739,236

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

A20

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2027						NVIT Emerging Markets Fund (Class D)						AST Bond Portfolio 2028						AST Bond Portfolio 2029						AST Bond Portfolio 2030
ASSETS
Investment in the portfolios, at fair value			$	40,313,644					$	14,500,939					$	60,054,337					$	3,349,453					$	42,281,188
Net Assets			$	40,313,644					$	14,500,939					$	60,054,337					$	3,349,453					$	42,281,188
NET ASSETS, representing:
Accumulation units			$	40,313,644					$	14,492,001					$	60,054,337					$	3,349,453					$	42,281,188
Contracts in payout (annuitization) period			—						8,938						—						—						—
			$	40,313,644					$	14,500,939					$	60,054,337					$	3,349,453					$	42,281,188
Units outstanding			4,226,660						1,412,662						6,127,009						350,329						4,174,676
Portfolio shares held			3,631,860						1,403,769						5,410,301						307,571						3,857,773
Portfolio net asset value per share			$	11.10					$	10.33					$	11.10					$	10.89					$	10.96
Investment in portfolio shares, at cost			$	41,642,733					$	17,360,029					$	64,163,054					$	3,227,789					$	46,294,615

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2027						NVIT Emerging Markets Fund (Class D)						AST Bond Portfolio 2028						AST Bond Portfolio 2029						AST Bond Portfolio 2030
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	190,568					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			785,447						171,602						1,158,556						84,069						610,910
NET INVESTMENT INCOME (LOSS)			(785,447)						18,966						(1,158,556)						(84,069)						(610,910)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			(1,675,158)						(215,242)						(2,471,238)						(24,331)						(1,115,679)
Net change in unrealized appreciation (depreciation) on investments			3,900,024						478,928						5,842,471						250,528						3,396,792
NET GAIN (LOSS) ON INVESTMENTS			2,224,866						263,686						3,371,233						226,197						2,281,113
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	1,439,419					$	282,652					$	2,212,677					$	142,128					$	1,670,203

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

A21

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2031						MFS® International Growth Portfolio (Service Class)						MFS® Total Return Bond Series (Service Class)						MFS® Total Return Series (Service Class)						MFS® Value Series (Service Class)
ASSETS
Investment in the portfolios, at fair value			$	32,975,230					$	216,391					$	649,061					$	782,358					$	2,871,668
Net Assets			$	32,975,230					$	216,391					$	649,061					$	782,358					$	2,871,668
NET ASSETS, representing:
Accumulation units			$	32,975,230					$	216,391					$	649,061					$	782,358					$	2,871,668
Contracts in payout (annuitization) period			—						—						—						—						—
			$	32,975,230					$	216,391					$	649,061					$	782,358					$	2,871,668
Units outstanding			3,812,352						15,877						69,487						59,956						186,416
Portfolio shares held			3,572,614						14,996						56,588						34,496						138,661
Portfolio net asset value per share			$	9.23					$	14.43					$	11.47					$	22.68					$	20.71
Investment in portfolio shares, at cost			$	36,658,708					$	206,240					$	640,506					$	770,937					$	2,926,066

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2031						MFS® International Growth Portfolio (Service Class)						MFS® Total Return Bond Series (Service Class)						MFS® Total Return Series (Service Class)						MFS® Value Series (Service Class)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	—					$	1,851					$	75,265					$	13,428					$	36,207
EXPENSES
Charges for mortality and expense risk,
and for administration			573,584						4,714						32,045						9,833						36,852
NET INVESTMENT INCOME (LOSS)			(573,584)						(2,863)						43,220						3,595						(645)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						6,492						—						32,049						181,490
Net realized gain (loss) on shares redeemed			(1,524,974)						(51,616)						(205,681)						(19,891)						(129,661)
Net change in unrealized appreciation (depreciation) on investments			3,277,506						109,512						159,266						46,659						90,254
NET GAIN (LOSS) ON INVESTMENTS			1,752,532						64,388						(46,415)						58,817						142,083
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	1,178,948					$	61,525					$	(3,195)					$	62,412					$	141,438

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

A22

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNTS
			PSF PGIM Government Money Market Portfolio (Class III)						Invesco V.I. Discovery Mid Cap Growth Fund (Series I)						AST Global Bond Portfolio						AST Bond Portfolio 2032						AST Bond Portfolio 2033
ASSETS
Investment in the portfolios, at fair value			$	24,712,244					$	8,382,575					$	78,304,446					$	50,604,334					$	243,496
Net Assets			$	24,712,244					$	8,382,575					$	78,304,446					$	50,604,334					$	243,496
NET ASSETS, representing:
Accumulation units			$	24,712,244					$	8,352,979					$	77,955,419					$	50,604,334					$	243,496
Contracts in payout (annuitization) period			—						29,596						349,027						—						—
			$	24,712,244					$	8,382,575					$	78,304,446					$	50,604,334					$	243,496
Units outstanding			2,332,662						648,052						8,799,838						6,649,309						30,344
Portfolio shares held			2,471,224						133,459						6,911,249						6,365,325						29,266
Portfolio net asset value per share			$	10.00					$	62.81					$	11.33					$	7.95					$	8.32
Investment in portfolio shares, at cost			$	24,712,244					$	9,570,143					$	79,989,867					$	56,567,876					$	214,606

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

			SUBACCOUNTS
			PSF PGIM Government Money Market Portfolio (Class III)						Invesco V.I. Discovery Mid Cap Growth Fund (Series I)						AST Global Bond Portfolio						AST Bond Portfolio 2032						AST Bond Portfolio 2033
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
INVESTMENT INCOME
Dividend income			$	1,061,349					$	—					$	—					$	—					$	—
EXPENSES
Charges for mortality and expense risk,
and for administration			72						108,473						977,291						832,585						7,241
NET INVESTMENT INCOME (LOSS)			1,061,277						(108,473)						(977,291)						(832,585)						(7,241)
NET REALIZED AND UNREALIZED GAIN (LOSS)
ON INVESTMENTS
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			—						(405,606)						(2,255,404)						(4,105,250)						34,668
Net change in unrealized appreciation (depreciation) on investments			—						1,438,758						6,541,738						6,921,736						22,152
NET GAIN (LOSS) ON INVESTMENTS			—						1,033,152						4,286,334						2,816,486						56,820
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			$	1,061,277					$	924,679					$	3,309,043					$	1,983,901					$	49,579

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

A23

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF NET ASSETS

December 31, 2023

			SUBACCOUNT
			AST Bond Portfolio 2034
ASSETS
Investment in the portfolios, at fair value			$	27,868
Net Assets			$	27,868
NET ASSETS, representing:
Accumulation units			$	27,868
Contracts in payout (annuitization) period			—
			$	27,868
Units outstanding			2,722
Portfolio shares held			2,687
Portfolio net asset value per share			$	10.37
Investment in portfolio shares, at cost			$	27,480

STATEMENTS OF OPERATIONS

For the period ended December 31, 2023

SUBACCOUNT

AST Bond Portfolio 2034

1/3/2023*

to

12/31/2023

INVESTMENT INCOME

Dividend income

$

—

EXPENSES

Charges for mortality and expense risk,

and for administration

116

NET INVESTMENT INCOME (LOSS)

(116)

NET REALIZED AND UNREALIZED GAIN (LOSS)

ON INVESTMENTS

Capital gains distributions received

—

Net realized gain (loss) on shares redeemed

5,338

Net change in unrealized appreciation (depreciation) on investments

388

NET GAIN (LOSS) ON INVESTMENTS

5,726

NET INCREASE (DECREASE) IN NET ASSETS

RESULTING FROM OPERATIONS

$

5,610

*Date subaccount became available for investment.

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

A24

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Large-Cap Growth Portfolio						AST Government Money Market Portfolio						AST Cohen & Steers Realty Portfolio						AST J.P. Morgan Tactical Preservation Portfolio						AST High Yield Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(17,360,048)					$	16,069,494					$	(1,015,351)					$	(8,222,758)					$	(1,067,239)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			65,122,158						—						6,463,832						(29,181,823)						(1,861,103)
Net change in unrealized appreciation (depreciation) on investments			404,075,092						—						2,428,425						88,550,277						10,326,956
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			451,837,202						16,069,494						7,876,906						51,145,696						7,398,614
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			1,515,814						2,777,022						120,484						565,684						371,936
Annuity payments			(3,444,930)						(2,760,137)						(194,369)						(491,476)						(267,312)
Surrenders, withdrawals and death benefits			(105,819,768)						(525,254,657)						(7,069,900)						(57,544,520)						(8,285,792)
Net transfers between other subaccounts
or fixed rate option			(80,413,857)						457,989,447						18,465,720						82,534,676						309,204
Miscellaneous transactions			43,412						(14,736)						8,464						9,969						(8,414)
Other charges			(6,038,776)						(932,789)						(596,840)						(5,734,483)						(437,378)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(194,158,105)						(68,195,850)						10,733,559						19,339,850						(8,317,756)
TOTAL INCREASE (DECREASE) IN NET ASSETS			257,679,097						(52,126,356)						18,610,465						70,485,546						(919,142)
NET ASSETS
Beginning of period			1,162,023,424						514,774,312						74,354,379						623,092,329						92,827,320
End of period			$	1,419,702,521					$	462,647,956					$	92,964,844					$	693,577,875					$	91,908,178
Beginning units			23,871,423						45,383,265						1,372,001						26,683,823						3,490,762
Units issued			1,915,720						26,209,362						679,186						12,713,090						1,382,341
Units redeemed			(5,360,615)						(31,643,150)						(509,954)						(12,201,081)						(1,719,261)
Ending units			20,426,528						39,949,477						1,541,233						27,195,832						3,153,842

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

A25

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Small-Cap Value Portfolio						AST Mid-Cap Growth Portfolio						AST Large-Cap Value Portfolio						AST Mid-Cap Value Portfolio						AST Small-Cap Growth Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(3,160,948)					$	(3,555,368)					$	(10,303,506)					$	(3,126,724)					$	(3,126,590)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			18,358,350						24,730,945						(3,216,809)						20,249,873						13,646,722
Net change in unrealized appreciation (depreciation) on investments			13,857,459						32,976,810						71,543,741						8,124,030						24,734,492
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			29,054,861						54,152,387						58,023,426						25,247,179						35,254,624
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			441,248						614,309						1,485,929						481,424						332,965
Annuity payments			(705,095)						(737,053)						(1,564,583)						(568,980)						(921,694)
Surrenders, withdrawals and death benefits			(20,302,676)						(23,333,058)						(62,144,743)						(20,594,553)						(19,586,110)
Net transfers between other subaccounts
or fixed rate option			2,792,417						5,647,829						(5,015,383)						4,836,217						9,176,758
Miscellaneous transactions			5,478						3,731						(7,628)						18,331						6,262
Other charges			(1,201,364)						(1,653,841)						(3,227,086)						(1,183,417)						(1,302,538)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(18,969,992)						(19,458,083)						(70,473,494)						(17,010,978)						(12,294,357)
TOTAL INCREASE (DECREASE) IN NET ASSETS			10,084,869						34,694,304						(12,450,068)						8,236,201						22,960,267
NET ASSETS
Beginning of period			252,149,969						276,989,274						776,641,254						253,109,162						234,224,867
End of period			$	262,234,838					$	311,683,578					$	764,191,186					$	261,345,363					$	257,185,134
Beginning units			5,518,632						16,392,744						20,469,313						4,008,170						5,086,073
Units issued			849,945						1,814,304						2,313,107						694,227						897,417
Units redeemed			(1,262,493)						(2,992,190)						(4,202,668)						(931,295)						(1,143,276)
Ending units			5,106,084						15,214,858						18,579,752						3,771,102						4,840,214

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

A26

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST T. Rowe Price Natural Resources Portfolio						AST T. Rowe Price Asset Allocation Portfolio						AST International Value Portfolio						AST MFS Global Equity Portfolio						AST J.P. Morgan International Equity Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						3/10/2023**						12/31/2023						3/10/2023**
OPERATIONS
Net investment income (loss)			$	(822,142)					$	(27,256,286)					$	(215,180)					$	(1,460,040)					$	(244,879)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			10,915,290						130,307,875						13,921,878						8,707,662						15,135,052
Net change in unrealized appreciation (depreciation) on investments			(9,902,187)						199,260,312						(8,629,070)						7,336,218						(10,711,378)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			190,961						302,311,901						5,077,628						14,583,840						4,178,795
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			215,402						3,280,135						30,732						261,858						49,644
Annuity payments			(96,716)						(1,955,250)						(62,153)						(202,602)						(18,912)
Surrenders, withdrawals and death benefits			(4,934,515)						(186,963,760)						(1,347,527)						(10,276,542)						(2,018,625)
Net transfers between other subaccounts
or fixed rate option			1,194,273						38,774,484						(77,170,800)						3,973,432						(100,151,272)
Miscellaneous transactions			405						21,695						2,421						441						4,148
Other charges			(604,460)						(17,271,929)						(82,478)						(990,266)						(136,206)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(4,225,611)						(164,114,625)						(78,629,805)						(7,233,679)						(102,271,223)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(4,034,650)						138,197,276						(73,552,177)						7,350,161						(98,092,428)
NET ASSETS
Beginning of period			77,348,818						2,101,549,942						73,552,177						121,930,267						98,092,428
End of period			$	73,314,168					$	2,239,747,218					$	—					$	129,280,428					$	—
Beginning units			1,663,092						64,240,350						4,222,222						3,281,197						3,492,592
Units issued			728,608						10,092,486						118,701						608,538						178,163
Units redeemed			(804,629)						(15,168,494)						(4,340,923)						(804,059)						(3,670,755)
Ending units			1,587,071						59,164,342						—						3,085,676						—
**Date subaccount was no longer available for investment.

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

A27

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST International Equity Portfolio						AST Wellington Management Hedged Equity Portfolio						AST Capital Growth Asset Allocation Portfolio						AST Academic Strategies Asset Allocation Portfolio						AST Balanced Asset Allocation Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						2/24/2023**						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(4,849,112)					$	(423,840)					$	(43,085,823)					$	(11,745,216)					$	(25,417,122)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			30,519,888						28,353,023						240,617,148						57,614,264						198,150,292
Net change in unrealized appreciation (depreciation) on investments			25,304,322						(26,605,611)						282,597,611						21,541,563						90,346,605
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			50,975,098						1,323,572						480,128,936						67,410,611						263,079,775
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			457,909						35,338						2,688,787						494,284						4,692,679
Annuity payments			(793,010)						(4,003)						(3,350,577)						(843,406)						(3,239,406)
Surrenders, withdrawals and death benefits			(29,057,558)						(2,875,455)						(290,051,848)						(80,273,330)						(179,231,818)
Net transfers between other subaccounts
or fixed rate option			173,617,723						(204,534,923)						132,794,537						17,733,385						19,125,518
Miscellaneous transactions			(554)						492						(13,874)						3,741						(7,742)
Other charges			(1,561,761)						(218,963)						(20,843,337)						(5,289,766)						(16,545,074)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			142,662,749						(207,597,514)						(178,776,312)						(68,175,092)						(175,205,843)
TOTAL INCREASE (DECREASE) IN NET ASSETS			193,637,847						(206,273,942)						301,352,624						(764,481)						87,873,932
NET ASSETS
Beginning of period			211,436,824						206,273,942						2,999,887,678						855,751,890						1,977,789,635
End of period			$	405,074,671					$	—					$	3,301,240,302					$	854,987,409					$	2,065,663,567
Beginning units			7,178,522						11,502,395						140,205,853						59,781,497						100,027,286
Units issued			6,979,675						413,404						14,216,060						15,345,900						11,278,670
Units redeemed			(2,490,356)						(11,915,799)						(22,076,837)						(20,419,388)						(20,012,555)
Ending units			11,667,841						—						132,345,076						54,708,009						91,293,401

**Date subaccount was no longer available for investment.

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

A28

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Preservation Asset Allocation Portfolio						AST J.P. Morgan Global Thematic Portfolio						AST Core Fixed Income Portfolio						Davis Value Portfolio						Columbia Variable Portfolio - Small Company Growth Fund (Class 1)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(11,365,682)					$	(4,171,659)					$	(15,945,519)					$	(399)					$	(3,532)
Capital gains distributions received			—						—						—						84,749						—
Net realized gain (loss) on shares redeemed			51,266,874						27,284,010						(41,236,219)						(36,774)						(7,422)
Net change in unrealized appreciation (depreciation) on investments			37,502,747						17,321,225						112,336,739						164,517						90,164
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			77,403,939						40,433,576						55,155,001						212,093						79,210
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			1,389,234						130,614						2,129,843						2,500						171
Annuity payments			(1,524,260)						(216,491)						(2,869,444)						(2,322)						—
Surrenders, withdrawals and death benefits			(86,682,437)						(26,356,947)						(110,256,549)						(34,423)						(9,422)
Net transfers between other subaccounts
or fixed rate option			8,269,741						10,284,437						95,205,929						(9,795)						—
Miscellaneous transactions			10,525						(3,055)						(16,703)						—						—
Other charges			(5,250,557)						(3,765,134)						(8,965,955)						(2,018)						(255)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(83,787,754)						(19,926,576)						(24,772,879)						(46,058)						(9,506)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(6,383,815)						20,507,000						30,382,122						166,035						69,704
NET ASSETS
Beginning of period			844,493,584						355,140,192						1,260,481,629						707,900						313,295
End of period			$	838,109,769					$	375,647,192					$	1,290,863,751					$	873,935					$	382,999
Beginning units			52,057,695						20,610,378						101,388,501						29,915						5,723
Units issued			12,682,299						4,873,154						24,056,221						271						2
Units redeemed			(17,970,785)						(6,133,323)						(26,774,129)						(1,931)						(145)
Ending units			46,769,209						19,350,209						98,670,593						28,255						5,580

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

A29

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			PSF International Growth Portfolio (Class I)						ProFund VP Asia 30						ProFund VP Banks						ProFund VP Bear						ProFund VP Biotechnology
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			3/10/2023**						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(6,785)					$	(47,266)					$	3,249					$	(11,642)					$	(63,687)
Capital gains distributions received			—						160,387						—						—						811,731
Net realized gain (loss) on shares redeemed			276,409						(1,402,718)						(445,649)						(129,011)						(557,863)
Net change in unrealized appreciation (depreciation) on investments			(160,332)						1,398,858						632,748						(111,452)						224,696
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			109,292						109,261						190,348						(252,105)						414,877
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			591						55,097						1,420						3,457						11,850
Annuity payments			—						(83,455)						—						(480)						(4,401)
Surrenders, withdrawals and death benefits			(49,835)						(353,606)						(194,842)						(94,417)						(571,355)
Net transfers between other subaccounts
or fixed rate option			(2,659,865)						(156,399)						516,338						(279,403)						287,728
Miscellaneous transactions			(418)						1,023						(25)						35						(982)
Other charges			(1,119)						(8,246)						(869)						(1,356)						(3,178)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(2,710,646)						(545,586)						322,022						(372,164)						(280,338)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(2,601,354)						(436,325)						512,370						(624,269)						134,539
NET ASSETS
Beginning of period			2,601,354						4,067,197						2,536,693						1,683,774						5,789,761
End of period			$	—					$	3,630,872					$	3,049,063					$	1,059,505					$	5,924,300
Beginning units			123,782						193,510						250,793						1,980,913						148,708
Units issued			3,750						92,218						475,359						10,089,647						41,702
Units redeemed			(127,532)						(118,682)						(448,163)						(10,685,426)						(51,480)
Ending units			—						167,046						277,989						1,385,134						138,930

**Date subaccount was no longer available for investment.

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

A30

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP Materials						ProFund VP UltraBull						ProFund VP Bull						ProFund VP Consumer Discretionary						ProFund VP Consumer Staples
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(32,333)					$	(78,587)					$	(176,743)					$	(82,785)					$	(71,382)
Capital gains distributions received			—						—						2,343,346						279,532						1,019,528
Net realized gain (loss) on shares redeemed			(19,802)						1,063,051						(899,250)						(771,141)						(905,707)
Net change in unrealized appreciation (depreciation) on investments			489,688						1,210,615						1,542,772						1,968,476						90,014
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			437,553						2,195,079						2,810,125						1,394,082						132,453
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			9,603						10,040						16,496						19,444						4,963
Annuity payments			(15,753)						(647)						(102,903)						(2,076)						(23,849)
Surrenders, withdrawals and death benefits			(283,196)						(503,628)						(1,296,055)						(337,345)						(350,820)
Net transfers between other subaccounts
or fixed rate option			(505,828)						(913,828)						(2,334,203)						2,255,076						(33,784)
Miscellaneous transactions			7						303						1,794						85						1,983
Other charges			(3,855)						(2,451)						(14,266)						(42,993)						(41,487)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(799,022)						(1,410,211)						(3,729,137)						1,892,191						(442,994)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(361,469)						784,868						(919,012)						3,286,273						(310,541)
NET ASSETS
Beginning of period			4,584,108						5,843,776						14,436,418						4,295,971						6,239,146
End of period			$	4,222,639					$	6,628,644					$	13,517,406					$	7,582,244					$	5,928,605
Beginning units			165,649						173,255						516,236						166,376						225,600
Units issued			39,700						197,753						975,724						184,655						98,501
Units redeemed			(68,062)						(233,286)						(1,098,633)						(122,982)						(113,181)
Ending units			137,287						137,722						393,327						228,049						210,920

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

A31

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP Energy						ProFund VP Europe 30						ProFund VP Financials						ProFund VP U.S. Government Plus						ProFund VP Health Care
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	119,733					$	39,158					$	(79,055)					$	94,418					$	(251,494)
Capital gains distributions received			—						—						338,878						—						2,189,250
Net realized gain (loss) on shares redeemed			814,912						(155,196)						(386,625)						(635,004)						(487,005)
Net change in unrealized appreciation (depreciation) on investments			(1,446,828)						800,405						1,006,272						276,261						(1,657,301)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(512,183)						684,367						879,470						(264,325)						(206,550)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			22,247						2,416						4,937						5,710						5,660
Annuity payments			(49,671)						(37,560)						(7,328)						(539)						(101,077)
Surrenders, withdrawals and death benefits			(1,009,074)						(516,483)						(1,106,172)						(276,597)						(1,629,247)
Net transfers between other subaccounts
or fixed rate option			(2,646,111)						(195,616)						(373,440)						1,210,128						(1,533,635)
Miscellaneous transactions			497						(542)						(160)						(793)						(569)
Other charges			(10,674)						(13,835)						(46,052)						(8,030)						(117,398)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(3,692,786)						(761,620)						(1,528,215)						929,879						(3,376,266)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(4,204,969)						(77,253)						(648,745)						665,554						(3,582,816)
NET ASSETS
Beginning of period			13,678,578						4,837,539						8,876,660						2,696,802						21,999,265
End of period			$	9,473,609					$	4,760,286					$	8,227,915					$	3,362,356					$	18,416,449
Beginning units			521,951						362,811						568,889						189,930						620,024
Units issued			376,197						151,087						137,250						982,496						129,369
Units redeemed			(521,295)						(208,378)						(242,372)						(930,764)						(223,629)
Ending units			376,853						305,520						463,767						241,662						525,764

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

A32

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund Access VP High Yield Fund						ProFund VP Industrials						ProFund VP Internet						ProFund VP Japan						ProFund VP Precious Metals
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	86,878					$	(78,092)					$	(57,463)					$	(48,284)					$	(106,909)
Capital gains distributions received			—						490,212						787,628						—						—
Net realized gain (loss) on shares redeemed			(91,544)						(32,008)						(3,240,333)						105,391						331,255
Net change in unrealized appreciation (depreciation) on investments			193,269						388,233						4,309,992						902,333						(349,686)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			188,603						768,345						1,799,824						959,440						(125,340)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			6,428						3,249						3,311						3,461						17,899
Annuity payments			(884)						(7,470)						(2,392)						(31,865)						(28,814)
Surrenders, withdrawals and death benefits			(311,661)						(368,570)						(350,200)						(347,068)						(712,272)
Net transfers between other subaccounts
or fixed rate option			41,220						(316,366)						470,057						210,415						738,203
Miscellaneous transactions			455						5						(1,624)						533						(651)
Other charges			(1,152)						(26,738)						(1,489)						(8,212)						(11,487)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(265,594)						(715,890)						117,663						(172,736)						2,878
TOTAL INCREASE (DECREASE) IN NET ASSETS			(76,991)						52,455						1,917,487						786,704						(122,462)
NET ASSETS
Beginning of period			2,229,299						6,022,790						3,651,467						2,908,066						10,306,537
End of period			$	2,152,308					$	6,075,245					$	5,568,954					$	3,694,770					$	10,184,075
Beginning units			110,937						190,009						50,362						198,082						1,114,978
Units issued			21,063						89,331						28,887						113,098						2,416,890
Units redeemed			(33,638)						(112,989)						(27,404)						(123,509)						(2,439,685)
Ending units			98,362						166,351						51,845						187,671						1,092,183

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

A33

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP Mid-Cap Growth						ProFund VP Mid-Cap Value						ProFund VP Pharmaceuticals						ProFund VP Real Estate						ProFund VP Rising Rates Opportunity
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(150,748)					$	(99,270)					$	(11,050)					$	(4,594)					$	(34,184)
Capital gains distributions received			57,671						541,152						33,088						825,682						—
Net realized gain (loss) on shares redeemed			(1,660,820)						(632,454)						(216,483)						(695,173)						92,787
Net change in unrealized appreciation (depreciation) on investments			3,072,890						1,161,285						41,360						222,466						(149,665)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			1,318,993						970,713						(153,085)						348,381						(91,062)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			2,366						9,469						3,441						3,551						5,467
Annuity payments			(77,543)						(15,652)						(10,196)						(43,019)						(1,585)
Surrenders, withdrawals and death benefits			(896,041)						(741,759)						(202,529)						(195,254)						(143,833)
Net transfers between other subaccounts
or fixed rate option			635,736						(1,104,324)						(218,105)						285,758						(2,280,396)
Miscellaneous transactions			1,455						1,800						(372)						57						1,348
Other charges			(51,333)						(34,505)						(1,859)						(16,104)						(2,693)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(385,360)						(1,884,971)						(429,620)						34,989						(2,421,692)
TOTAL INCREASE (DECREASE) IN NET ASSETS			933,633						(914,258)						(582,705)						383,370						(2,512,754)
NET ASSETS
Beginning of period			10,428,989						10,225,032						2,019,090						4,165,089						4,338,720
End of period			$	11,362,622					$	9,310,774					$	1,436,385					$	4,548,459					$	1,825,966
Beginning units			343,837						327,702						102,041						145,655						3,154,397
Units issued			295,835						244,861						51,417						66,095						6,079,797
Units redeemed			(311,729)						(307,520)						(75,003)						(64,822)						(7,958,070)
Ending units			327,943						265,043						78,455						146,928						1,276,124

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

A34

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP NASDAQ-100						ProFund VP Semiconductor						ProFund VP Small-Cap Growth						ProFund VP Short Mid-Cap						ProFund VP Short NASDAQ-100
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(290,267)					$	(87,047)					$	(127,895)					$	(1,608)					$	(15,756)
Capital gains distributions received			109,919						66,963						279,458						—						1,339
Net realized gain (loss) on shares redeemed			3,553,714						1,747,176						(1,722,906)						(7,470)						(388,157)
Net change in unrealized appreciation (depreciation) on investments			4,881,473						1,957,879						2,797,864						(943)						(111,542)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			8,254,839						3,684,971						1,226,521						(10,021)						(514,116)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			32,851						2,927						4,988						8						4,891
Annuity payments			(176,637)						—						(2,983)						—						(6,929)
Surrenders, withdrawals and death benefits			(1,136,542)						(676,395)						(699,261)						(3,636)						(37,642)
Net transfers between other subaccounts
or fixed rate option			2,263,640						2,625,687						865,781						(31,959)						(678,817)
Miscellaneous transactions			(4,040)						13						1,945						—						(8)
Other charges			(22,288)						(1,652)						(43,386)						(112)						(1,457)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			956,984						1,950,580						127,084						(35,699)						(719,962)
TOTAL INCREASE (DECREASE) IN NET ASSETS			9,211,823						5,635,551						1,353,605						(45,720)						(1,234,078)
NET ASSETS
Beginning of period			16,113,053						2,913,855						8,778,669						93,199						2,124,045
End of period			$	25,324,876					$	8,549,406					$	10,132,274					$	47,479					$	889,967
Beginning units			524,048						101,348						255,633						131,236						7,787,978
Units issued			704,000						189,862						124,937						2,828,941						41,945,773
Units redeemed			(688,116)						(135,042)						(119,386)						(2,888,205)						(44,794,441)
Ending units			539,932						156,168						261,184						71,972						4,939,310

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

A35

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP Short Small-Cap						ProFund VP Small-Cap Value						ProFund VP Technology						ProFund VP Communication Services						ProFund VP UltraMid-Cap
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(3,536)					$	(95,605)					$	(87,691)					$	(9,388)					$	(70,487)
Capital gains distributions received			12,026						327,732						826,683						—						—
Net realized gain (loss) on shares redeemed			(51,377)						(1,163,323)						1,352,111						29,474						(2,181,014)
Net change in unrealized appreciation (depreciation) on investments			(41,046)						1,684,819						1,219,583						638,143						3,191,460
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(83,933)						753,623						3,310,686						658,229						939,959
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			316						23,961						13,224						588						8,212
Annuity payments			—						(17,165)						(3,765)						(1,369)						(58,228)
Surrenders, withdrawals and death benefits			(7,820)						(418,838)						(764,792)						(203,308)						(492,773)
Net transfers between other subaccounts
or fixed rate option			8,216						(302,063)						405,215						938,255						1,176,433
Miscellaneous transactions			—						3,642						(380)						13						(770)
Other charges			(189)						(32,055)						(2,774)						(16,551)						(5,209)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			523						(742,518)						(353,272)						717,628						627,665
TOTAL INCREASE (DECREASE) IN NET ASSETS			(83,410)						11,105						2,957,414						1,375,857						1,567,624
NET ASSETS
Beginning of period			346,060						7,482,129						5,860,932						1,923,740						5,442,336
End of period			$	262,650					$	7,493,234					$	8,818,346					$	3,299,597					$	7,009,960
Beginning units			492,638						280,764						240,049						206,838						114,586
Units issued			4,372,112						132,742						191,474						299,184						99,507
Units redeemed			(4,448,594)						(161,241)						(201,077)						(231,447)						(88,593)
Ending units			416,156						252,265						230,446						274,575						125,500

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

A36

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			ProFund VP UltraNASDAQ-100						ProFund VP UltraSmall-Cap						ProFund VP Utilities						ProFund VP Large-Cap Growth						ProFund VP Large-Cap Value
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(525,868)					$	(47,555)					$	(7,062)					$	(186,017)					$	(86,496)
Capital gains distributions received			—						—						—						2,452,652						663,985
Net realized gain (loss) on shares redeemed			1,368,675						(217,817)						155,269						(2,994,074)						(12,339)
Net change in unrealized appreciation (depreciation) on investments			31,328,810						941,463						(1,585,410)						3,820,417						1,039,628
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			32,171,617						676,091						(1,437,203)						3,092,978						1,604,778
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			48,391						4,459						9,711						18,556						3,831
Annuity payments			(30,277)						—						(19,392)						(67,843)						(165,698)
Surrenders, withdrawals and death benefits			(3,700,653)						(293,223)						(1,067,931)						(1,203,119)						(1,071,377)
Net transfers between other subaccounts
or fixed rate option			15,194,635						752,989						(3,297,067)						3,071,072						(158,983)
Miscellaneous transactions			(458)						(159)						133						(646)						1,476
Other charges			(14,374)						(1,467)						(64,736)						(55,950)						(37,126)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			11,497,264						462,599						(4,439,282)						1,762,070						(1,427,877)
TOTAL INCREASE (DECREASE) IN NET ASSETS			43,668,881						1,138,690						(5,876,485)						4,855,048						176,901
NET ASSETS
Beginning of period			20,528,684						3,166,726						16,101,801						11,187,086						10,116,700
End of period			$	64,197,565					$	4,305,416					$	10,225,316					$	16,042,134					$	10,293,601
Beginning units			1,332,372						143,491						557,562						350,508						465,319
Units issued			914,526						226,600						124,164						272,892						216,349
Units redeemed			(382,412)						(207,487)						(291,104)						(223,265)						(283,256)
Ending units			1,864,486						162,604						390,622						400,135						398,412

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

A37

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			Rydex VT Nova Fund						Rydex VT NASDAQ-100® Fund						Rydex VT Inverse S&P 500® Strategy Fund						Invesco V.I. Health Care Fund (Series I)						Invesco V.I. Technology Fund (Series I)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(16,857)					$	(120,333)					$	163					$	(222,775)					$	(212,388)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			75,927						482,667						(12,582)						(184,878)						(910,209)
Net change in unrealized appreciation (depreciation) on investments			289,217						3,105,263						10,473						636,646						7,094,227
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			348,287						3,467,597						(1,946)						228,993						5,971,630
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			2,222						16,918						7						24,550						44,754
Annuity payments			—						(39,088)						—						(175,300)						(143,971)
Surrenders, withdrawals and death benefits			(59,283)						(469,081)						(5,003)						(1,657,536)						(1,181,351)
Net transfers between other subaccounts
or fixed rate option			2,581						(211,768)						(476)						(546,189)						(646,090)
Miscellaneous transactions			(25)						(2,248)						—						(1,906)						(1,097)
Other charges			(779)						(9,301)						(7)						(17,816)						(15,930)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(55,284)						(714,568)						(5,479)						(2,374,197)						(1,943,685)
TOTAL INCREASE (DECREASE) IN NET ASSETS			293,003						2,753,029						(7,425)						(2,145,204)						4,027,945
NET ASSETS
Beginning of period			1,090,077						7,052,759						14,445						19,307,365						14,014,882
End of period			$	1,383,080					$	9,805,788					$	7,020					$	17,162,161					$	18,042,827
Beginning units			48,037						242,935						14,269						479,978						911,887
Units issued			1,086						743						494						17,121						15,673
Units redeemed			(3,361)						(20,193)						(6,497)						(77,406)						(117,348)
Ending units			45,762						223,485						8,266						419,693						810,212

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

A38

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			Allspring VT Index Asset Allocation Fund (Class 2)						Allspring VT International Equity Fund (Class 2)						Allspring VT Small Cap Growth Fund (Class 2)						AST Prudential Growth Allocation Portfolio						AST Advanced Strategies Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(60,941)					$	(14)					$	(13,909)					$	(30,225,777)					$	(13,415,754)
Capital gains distributions received			426,035						—						—						—						—
Net realized gain (loss) on shares redeemed			547,344						(8,330)						(38,440)						172,314,788						78,638,375
Net change in unrealized appreciation (depreciation) on investments			1,013,889						32,277						74,106						229,286,875						55,448,726
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			1,926,327						23,933						21,757						371,375,886						120,671,347
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			10,897						2,733						1,739						1,396,278						314,622
Annuity payments			(105,886)						—						(24,371)						(2,106,770)						(429,228)
Surrenders, withdrawals and death benefits			(658,020)						(4,603)						(118,017)						(203,402,414)						(90,963,986)
Net transfers between other subaccounts
or fixed rate option			(397,099)						(1,949)						3,570						330,138,365						3,266,843
Miscellaneous transactions			99						(3)						—						13,423						(404)
Other charges			(4,513)						(42)						(577)						(23,538,233)						(7,370,675)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(1,154,522)						(3,864)						(137,656)						102,500,649						(95,182,828)
TOTAL INCREASE (DECREASE) IN NET ASSETS			771,805						20,069						(115,899)						473,876,535						25,488,519
NET ASSETS
Beginning of period			13,387,687						173,938						1,026,824						2,210,441,947						1,008,310,612
End of period			$	14,159,492					$	194,007					$	910,925					$	2,684,318,482					$	1,033,799,131
Beginning units			238,675						17,571						31,046						133,485,378						49,368,557
Units issued			766						363						223						51,839,457						5,447,083
Units redeemed			(20,050)						(862)						(4,449)						(46,565,993)						(10,082,634)
Ending units			219,391						17,072						26,820						138,758,842						44,733,006

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

A39

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Investment Grade Bond Portfolio						AST Cohen & Steers Global Realty Portfolio						AST Emerging Markets Equity Portfolio						Allspring VT Discovery All Cap Growth Fund (Class 2)						Allspring VT Discovery All Cap Growth Fund (Class 1)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						1/20/2023**						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(41,064,037)					$	(10,216)					$	(623,878)					$	(21,074)					$	(146,853)
Capital gains distributions received			—						—						—						157,354						1,169,717
Net realized gain (loss) on shares redeemed			127,546,296						831,555						(3,694,267)						(5,352)						(645,666)
Net change in unrealized appreciation (depreciation) on investments			134,581,337						158,560						9,978,114						272,320						2,788,788
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			221,063,596						979,899						5,659,969						403,248						3,165,986
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			410						23,718						59,104						2,161						23,397
Annuity payments			(2,016,288)						(496)						(5,361)						(45,041)						(2,616)
Surrenders, withdrawals and death benefits			(290,016,562)						(128,210)						(4,289,651)						(19,392)						(1,131,558)
Net transfers between other subaccounts
or fixed rate option			(698,641,271)						(16,880,213)						1,840,468						(60,639)						131,067
Miscellaneous transactions			(28,650)						119						93						264						(379)
Other charges			(45,660,266)						(9,776)						(606,817)						(964)						(12,392)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(1,036,362,627)						(16,994,858)						(3,002,164)						(123,611)						(992,481)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(815,299,031)						(16,014,959)						2,657,805						279,637						2,173,505
NET ASSETS
Beginning of period			3,529,366,644						16,014,959						56,114,411						1,354,631						10,465,053
End of period			$	2,714,067,613					$	—					$	58,772,216					$	1,634,268					$	12,638,558
Beginning units			211,621,790						1,040,012						6,682,099						40,829						301,918
Units issued			167,224,201						55,000						2,865,342						1,318						20,872
Units redeemed			(223,338,606)						(1,095,012)						(3,269,201)						(4,630)						(43,983)
Ending units			155,507,385						—						6,278,240						37,517						278,807

**Date subaccount was no longer available for investment.

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

A40

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			Allspring VT Small Cap Growth Fund (Class 1)						Allspring VT International Equity Fund (Class 1)						AST Bond Portfolio 2022						AST Quantitative Modeling Portfolio						AST BlackRock Global Strategies Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						1/3/2023**						12/31/2023						1/20/2023**
OPERATIONS
Net investment income (loss)			$	(117,109)					$	30,571					$	(15)					$	(423,611)					$	(43,769)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			(433,437)						10,801						1,049						2,613,041						3,529,185
Net change in unrealized appreciation (depreciation) on investments			816,166						766,222						(1,010)						3,229,963						(1,663,768)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			265,620						807,594						24						5,419,393						1,821,648
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			16,565						28,391						—						224,656						1,648
Annuity payments			(70,304)						(36,813)						—						(72,049)						—
Surrenders, withdrawals and death benefits			(787,420)						(480,456)						—						(6,700,782)						(564,170)
Net transfers between other subaccounts
or fixed rate option			169,862						357,294						(77,992)						30,350						(56,362,020)
Miscellaneous transactions			409						275						(171)						3,532						(85)
Other charges			(10,028)						(7,050)						(65)						(15,551)						(20,198)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(680,916)						(138,359)						(78,228)						(6,529,844)						(56,944,825)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(415,296)						669,235						(78,204)						(1,110,451)						(55,123,177)
NET ASSETS
Beginning of period			9,316,356						5,741,131						78,204						37,161,314						55,123,177
End of period			$	8,901,060					$	6,410,366					$	—					$	36,050,863					$	—
Beginning units			305,969						308,324						6,488						2,148,741						4,241,300
Units issued			24,241						40,112						1						70,936						191,617
Units redeemed			(46,219)						(48,949)						(6,489)						(417,367)						(4,432,917)
Ending units			283,991						299,487						—						1,802,310						—

**Date subaccount was no longer available for investment.

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

A41

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			Invesco V.I. Diversified Dividend Fund (Series I)						Columbia Variable Portfolio - U.S. Government Mortgage Fund (Class 1)						Columbia Variable Portfolio - Large Cap Growth Fund (Class 1)						Allspring VT Opportunity Fund (Class 1)						Allspring VT Opportunity Fund (Class 2)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	103,065					$	2,411					$	(51,763)					$	(27,401)					$	(64,679)
Capital gains distributions received			1,196,451						—						—						162,753						388,880
Net realized gain (loss) on shares redeemed			(163,949)						(3,355)						615,004						6,020						153,921
Net change in unrealized appreciation (depreciation) on investments			(55,956)						7,110						1,205,844						297,669						546,811
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			1,079,611						6,166						1,769,085						439,041						1,024,933
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			27,127						180						2,099						4,067						4,020
Annuity payments			(57,423)						(1,721)						(49,904)						—						(800)
Surrenders, withdrawals and death benefits			(1,253,930)						(8,240)						(434,980)						(220,131)						(211,197)
Net transfers between other subaccounts
or fixed rate option			351,010						(6,639)						(21,761)						(108,309)						(252,063)
Miscellaneous transactions			(413)						(38)						(133)						102						708
Other charges			(13,615)						(115)						(2,421)						(3,831)						(899)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(947,244)						(16,573)						(507,100)						(328,102)						(460,231)
TOTAL INCREASE (DECREASE) IN NET ASSETS			132,367						(10,407)						1,261,985						110,939						564,702
NET ASSETS
Beginning of period			14,941,914						141,558						4,416,015						1,952,336						4,344,945
End of period			$	15,074,281					$	131,151					$	5,678,000					$	2,063,275					$	4,909,647
Beginning units			623,588						14,268						143,022						64,969						148,741
Units issued			65,805						16						6,171						4,207						1,416
Units redeemed			(104,872)						(1,651)						(19,451)						(14,275)						(15,412)
Ending units			584,521						12,633						129,742						54,901						134,745

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

A42

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2023						AST MFS Growth Allocation Portfolio						AST Western Asset Emerging Markets Debt Portfolio						AST Bond Portfolio 2024						AST ClearBridge Dividend Growth Portfolio
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						2/24/2023**						3/10/2023**						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(547,678)					$	(278,656)					$	(2,665)					$	(526,599)					$	(713,421)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			1,348,247						16,176,933						(93,333)						448,618						5,110,002
Net change in unrealized appreciation (depreciation) on investments			343,201						(12,090,121)						162,145						1,426,921						2,597,402
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			1,143,770						3,808,156						66,147						1,348,940						6,993,983
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			—						66,755						13						—						16,514
Annuity payments			—						(29,052)						—						(5,851)						(22,851)
Surrenders, withdrawals and death benefits			(4,303,187)						(1,587,246)						(5,905)						(7,231,258)						(5,174,189)
Net transfers between other subaccounts
or fixed rate option			(66,271,233)						(125,774,050)						(2,103,664)						42,545,289						5,970,797
Miscellaneous transactions			337						6,809						(2)						72						(1,926)
Other charges			(35,971)						(115,373)						(11)						(7,519)						(506,244)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(70,610,054)						(127,432,157)						(2,109,569)						35,300,733						282,101
TOTAL INCREASE (DECREASE) IN NET ASSETS			(69,466,284)						(123,624,001)						(2,043,422)						36,649,673						7,276,084
NET ASSETS
Beginning of period			69,739,384						123,624,001						2,043,422						3,782,809						56,104,995
End of period			$	273,100					$	—					$	—					$	40,432,482					$	63,381,079
Beginning units			6,946,971						7,859,699						205,920						386,596						2,350,384
Units issued			526,473						278,759						1,999						5,883,505						757,917
Units redeemed			(7,447,084)						(8,138,458)						(207,919)						(2,216,052)						(754,650)
Ending units			26,360						—						—						4,054,049						2,353,651

**Date subaccount was no longer available for investment.

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

A43

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			Columbia Variable Portfolio - Government Money Market Fund (Class 1)						Columbia Variable Portfolio - Income Opportunities Fund (Class 1)						AST Large-Cap Core Portfolio						AST Bond Portfolio 2025						AST Bond Portfolio 2026
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	98,435					$	5,225					$	(1,396,165)					$	(70,539)					$	(358,434)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			—						(5,659)						(1,038,538)						66,986						(578,762)
Net change in unrealized appreciation (depreciation) on investments			—						12,972						25,174,526						156,273						1,676,432
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			98,435						12,538						22,739,823						152,720						739,236
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			1,989						52						838,065						—						—
Annuity payments			(68,536)						(2,465)						(273,494)						—						—
Surrenders, withdrawals and death benefits			(367,546)						(10,960)						(9,587,795)						(410,452)						(1,706,349)
Net transfers between other subaccounts
or fixed rate option			146,688						—						3,929,633						(1,199,616)						(1,753,397)
Miscellaneous transactions			(156)						(53)						3,757						535						(108)
Other charges			(1,806)						(36)						(689,957)						(1,300)						(13,338)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(289,367)						(13,462)						(5,779,791)						(1,610,833)						(3,473,192)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(190,932)						(924)						16,960,032						(1,458,113)						(2,733,956)
NET ASSETS
Beginning of period			2,876,518						123,711						110,138,474						4,288,218						21,572,309
End of period			$	2,685,586					$	122,787					$	127,098,506					$	2,830,105					$	18,838,353
Beginning units			300,816						9,868						4,857,273						387,916						2,287,935
Units issued			14,816						4						901,101						205,992						459,040
Units redeemed			(44,753)						(1,004)						(1,150,883)						(343,941)						(845,646)
Ending units			270,879						8,868						4,607,491						249,967						1,901,329

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

A44

---

FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2027						NVIT Emerging Markets Fund (Class D)						AST Bond Portfolio 2028						AST Bond Portfolio 2029						AST Bond Portfolio 2030
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(785,447)					$	18,966					$	(1,158,556)					$	(84,069)					$	(610,910)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			(1,675,158)						(215,242)						(2,471,238)						(24,331)						(1,115,679)
Net change in unrealized appreciation (depreciation) on investments			3,900,024						478,928						5,842,471						250,528						3,396,792
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			1,439,419						282,652						2,212,677						142,128						1,670,203
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			—						96,742						—						—						—
Annuity payments			—						(59,414)						—						—						—
Surrenders, withdrawals and death benefits			(5,837,566)						(1,038,397)						(11,614,108)						(1,105,715)						(4,344,524)
Net transfers between other subaccounts
or fixed rate option			1,182,840						1,548,895						(2,429,792)						(352,387)						4,234,386
Miscellaneous transactions			(1,798)						858						(1,050)						—						(3,379)
Other charges			(15,330)						(16,793)						(25,900)						(811)						(24,645)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(4,671,854)						531,891						(14,070,850)						(1,458,913)						(138,162)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(3,232,435)						814,543						(11,858,173)						(1,316,785)						1,532,041
NET ASSETS
Beginning of period			43,546,079						13,686,396						71,912,510						4,666,238						40,749,147
End of period			$	40,313,644					$	14,500,939					$	60,054,337					$	3,349,453					$	42,281,188
Beginning units			4,736,231						1,361,623						7,614,503						503,266						4,160,431
Units issued			708,008						325,546						57,864						66,880						642,048
Units redeemed			(1,217,579)						(274,507)						(1,545,358)						(219,817)						(627,803)
Ending units			4,226,660						1,412,662						6,127,009						350,329						4,174,676

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

A45

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			AST Bond Portfolio 2031						MFS® International Growth Portfolio (Service Class)						MFS® Total Return Bond Series (Service Class)						MFS® Total Return Series (Service Class)						MFS® Value Series (Service Class)
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	(573,584)					$	(2,863)					$	43,220					$	3,595					$	(645)
Capital gains distributions received			—						6,492						—						32,049						181,490
Net realized gain (loss) on shares redeemed			(1,524,974)						(51,616)						(205,681)						(19,891)						(129,661)
Net change in unrealized appreciation (depreciation) on investments			3,277,506						109,512						159,266						46,659						90,254
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			1,178,948						61,525						(3,195)						62,412						141,438
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			—						1,521						3,921						13,763						36,918
Annuity payments			—						—						—						—						—
Surrenders, withdrawals and death benefits			(5,955,528)						(494,521)						(265,857)						(190,142)						(498,756)
Net transfers between other subaccounts
or fixed rate option			47,492						53,710						(1,914,997)						108,996						(87,422)
Miscellaneous transactions			(11)						158						36,924						86						2,029
Other charges			(18,465)						—						—						—						—
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(5,926,512)						(439,132)						(2,140,009)						(67,297)						(547,231)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(4,747,564)						(377,607)						(2,143,204)						(4,885)						(405,793)
NET ASSETS
Beginning of period			37,722,794						593,998						2,792,265						787,243						3,277,461
End of period			$	32,975,230					$	216,391					$	649,061					$	782,358					$	2,871,668
Beginning units			4,522,486						49,174						316,094						65,632						225,924
Units issued			341,438						22,583						356,163						72,849						230,265
Units redeemed			(1,051,572)						(55,880)						(602,770)						(78,525)						(269,773)
Ending units			3,812,352						15,877						69,487						59,956						186,416

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

A46

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNTS
			PSF PGIM Government Money Market Portfolio (Class III)						Invesco V.I. Discovery Mid Cap Growth Fund (Series I)						AST Global Bond Portfolio						AST Bond Portfolio 2032						AST Bond Portfolio 2033
			1/1/2023						1/1/2023						1/1/2023						1/1/2023						1/1/2023
			to						to						to						to						to
			12/31/2023						12/31/2023						12/31/2023						12/31/2023						12/31/2023
OPERATIONS
Net investment income (loss)			$	1,061,277					$	(108,473)					$	(977,291)					$	(832,585)					$	(7,241)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			—						(405,606)						(2,255,404)						(4,105,250)						34,668
Net change in unrealized appreciation (depreciation) on investments			—						1,438,758						6,541,738						6,921,736						22,152
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			1,061,277						924,679						3,309,043						1,983,901						49,579
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			4,467,023						13,716						464,599						—						—
Annuity payments			—						(30,006)						(196,772)						(68,026)						—
Surrenders, withdrawals and death benefits			(27,459,986)						(831,770)						(6,653,273)						(15,819,359)						(110,086)
Net transfers between other subaccounts
or fixed rate option			22,443,805						(538,007)						10,594,348						(1,194,751)						(201,145)
Miscellaneous transactions			(5,975)						1,081						(928)						(898)						—
Other charges			(159)						(11,297)						(306,226)						(22,934)						(115)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(555,292)						(1,396,283)						3,901,748						(17,105,968)						(311,346)
TOTAL INCREASE (DECREASE) IN NET ASSETS			505,985						(471,604)						7,210,791						(15,122,067)						(261,767)
NET ASSETS
Beginning of period			24,206,259						8,854,179						71,093,655						65,726,401						505,263
End of period			$	24,712,244					$	8,382,575					$	78,304,446					$	50,604,334					$	243,496
Beginning units			2,390,442						764,465						8,383,100						8,949,148						64,613
Units issued			2,684,116						19,502						2,795,501						285,052						189,758
Units redeemed			(2,741,896)						(135,915)						(2,378,763)						(2,584,891)						(224,027)
Ending units			2,332,662						648,052						8,799,838						6,649,309						30,344

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

A47

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2023

			SUBACCOUNT
			AST Bond Portfolio 2034
			1/3/2023*
			to
			12/31/2023
OPERATIONS
Net investment income (loss)			$	(116)
Capital gains distributions received			—
Net realized gain (loss) on shares redeemed			5,338
Net change in unrealized appreciation (depreciation) on investments			388
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			5,610
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			—
Annuity payments			—
Surrenders, withdrawals and death benefits			(448)
Net transfers between other subaccounts
or fixed rate option			22,706
Miscellaneous transactions			—
Other charges			—
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			22,258
TOTAL INCREASE (DECREASE) IN NET ASSETS			27,868
NET ASSETS
Beginning of period			—
End of period			$	27,868
Beginning units			—
Units issued			14,919
Units redeemed			(12,197)
Ending units			2,722
*Date subaccount became available for investment.

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

A48

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST Large-Cap Growth Portfolio						AST Government Money Market Portfolio						AST Cohen & Steers Realty Portfolio						AST J.P. Morgan Tactical Preservation Portfolio						AST High Yield Portfolio
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(12,354,878)					$	291,246					$	(1,155,869)					$	(10,195,231)					$	(1,248,130)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			125,707,918						—						12,340,215						75,756,850						6,467,357
Net change in unrealized appreciation (depreciation) on investments			(379,278,671)						—						(43,679,309)						(246,592,362)						(20,871,104)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(265,925,631)						291,246						(32,494,963)						(181,030,743)						(15,651,877)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			1,431,686						8,318,183						210,226						583,406						484,523
Annuity payments			(1,724,642)						(3,836,467)						(84,894)						(706,987)						(306,480)
Surrenders, withdrawals and death benefits			(66,590,167)						(540,440,908)						(6,611,522)						(64,245,239)						(7,072,443)
Net transfers between other subaccounts
or fixed rate option			833,488,149						597,527,784						(18,717,504)						(266,943,015)						(22,530,483)
Miscellaneous transactions			(104,501)						(271)						(1,882)						5,663						(528)
Other charges			(4,770,286)						(1,038,119)						(593,252)						(7,117,565)						(516,288)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			761,730,239						60,530,202						(25,798,828)						(338,423,737)						(29,941,699)
TOTAL INCREASE (DECREASE) IN NET ASSETS			495,804,608						60,821,448						(58,293,791)						(519,454,480)						(45,593,576)
NET ASSETS
Beginning of period			666,218,816						453,952,864						132,648,170						1,142,546,809						138,420,896
End of period			$	1,162,023,424					$	514,774,312					$	74,354,379					$	623,092,329					$	92,827,320
Beginning units			8,932,813						39,976,082						1,818,670						40,802,376						4,603,935
Units issued			20,811,152						41,496,600						384,394						8,765,396						1,549,200
Units redeemed			(5,872,542)						(36,089,417)						(831,063)						(22,883,949)						(2,662,373)
Ending units			23,871,423						45,383,265						1,372,001						26,683,823						3,490,762

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

A49

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST Small-Cap Value Portfolio						AST Mid-Cap Growth Portfolio						AST Large-Cap Value Portfolio						AST Mid-Cap Value Portfolio						AST Small-Cap Growth Portfolio
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(3,063,900)					$	(4,121,275)					$	(10,998,859)					$	(3,691,272)					$	(2,159,170)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			25,551,701						48,001,433						107,650,346						35,923,833						21,359,399
Net change in unrealized appreciation (depreciation) on investments			(57,573,585)						(195,917,438)						(137,160,965)						(64,671,057)						(83,021,543)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(35,085,784)						(152,037,280)						(40,509,478)						(32,438,496)						(63,821,314)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			415,238						951,054						1,798,623						509,713						358,195
Annuity payments			(735,604)						(646,496)						(1,925,010)						(836,593)						(280,969)
Surrenders, withdrawals and death benefits			(17,017,524)						(23,904,263)						(59,617,848)						(21,621,135)						(12,171,080)
Net transfers between other subaccounts
or fixed rate option			95,327,951						(25,857,316)						619,066,973						(53,622,965)						129,938,651
Miscellaneous transactions			(13,467)						25,526						(158,678)						3,859						8,718
Other charges			(1,001,470)						(1,847,828)						(3,538,175)						(1,417,522)						(1,025,217)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			76,975,124						(51,279,323)						555,625,885						(76,984,643)						116,828,298
TOTAL INCREASE (DECREASE) IN NET ASSETS			41,889,340						(203,316,603)						515,116,407						(109,423,139)						53,006,984
NET ASSETS
Beginning of period			210,260,629						480,305,877						261,524,847						362,532,301						181,217,883
End of period			$	252,149,969					$	276,989,274					$	776,641,254					$	253,109,162					$	234,224,867
Beginning units			4,077,921						19,045,889						6,928,277						5,385,518						2,861,959
Units issued			3,327,011						2,819,963						22,386,057						695,553						4,030,333
Units redeemed			(1,886,300)						(5,473,108)						(8,845,021)						(2,072,901)						(1,806,219)
Ending units			5,518,632						16,392,744						20,469,313						4,008,170						5,086,073

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

A50

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST T. Rowe Price Natural Resources Portfolio						AST T. Rowe Price Asset Allocation Portfolio						AST International Value Portfolio						AST MFS Global Equity Portfolio						AST J.P. Morgan International Equity Portfolio
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(1,086,749)					$	(32,469,151)					$	(1,183,222)					$	(1,752,821)					$	(1,426,741)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			33,047,086						321,596,874						4,319,297						18,633,767						8,854,583
Net change in unrealized appreciation (depreciation) on investments			(29,186,255)						(848,007,232)						(15,613,448)						(54,843,228)						(43,227,476)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			2,774,082						(558,879,509)						(12,477,373)						(37,962,282)						(35,799,634)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			218,497						3,873,602						57,837						374,005						574,615
Annuity payments			(55,987)						(2,156,670)						(182,622)						(173,822)						(274,905)
Surrenders, withdrawals and death benefits			(6,088,578)						(202,638,329)						(6,082,907)						(11,235,531)						(8,785,006)
Net transfers between other subaccounts
or fixed rate option			(39,814,090)						(388,846,520)						(11,312,421)						(28,665,635)						(17,767,025)
Miscellaneous transactions			19,003						(2,702)						1,719						4,224						(484)
Other charges			(831,389)						(19,682,820)						(449,948)						(1,135,338)						(797,029)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(46,552,544)						(609,453,439)						(17,968,342)						(40,832,097)						(27,049,834)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(43,778,462)						(1,168,332,948)						(30,445,715)						(78,794,379)						(62,849,468)
NET ASSETS
Beginning of period			121,127,280						3,269,882,890						103,997,892						200,724,646						160,941,896
End of period			$	77,348,818					$	2,101,549,942					$	73,552,177					$	121,930,267					$	98,092,428
Beginning units			2,928,417						83,497,460						5,218,638						4,396,281						4,636,783
Units issued			1,068,644						10,751,828						773,019						711,608						1,331,985
Units redeemed			(2,333,969)						(30,008,938)						(1,769,435)						(1,826,692)						(2,476,176)
Ending units			1,663,092						64,240,350						4,222,222						3,281,197						3,492,592

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

A51

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST International Equity Portfolio						AST Wellington Management Hedged Equity Portfolio						AST Capital Growth Asset Allocation Portfolio						AST Academic Strategies Asset Allocation Portfolio						AST Balanced Asset Allocation Portfolio
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(3,422,005)					$	(2,940,865)					$	(47,622,359)					$	(15,360,896)					$	(24,832,885)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			24,567,696						28,145,034						425,163,791						129,403,219						239,416,709
Net change in unrealized appreciation (depreciation) on investments			(121,260,261)						(52,035,722)						(1,143,852,054)						(317,611,271)						(625,351,503)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(100,114,570)						(26,831,553)						(766,310,622)						(203,568,948)						(410,767,679)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			711,882						267,400						4,727,603						876,493						5,313,231
Annuity payments			(849,738)						(587,590)						(2,266,367)						(1,151,431)						(2,203,371)
Surrenders, withdrawals and death benefits			(18,154,195)						(18,884,269)						(270,126,016)						(93,012,965)						(159,528,190)
Net transfers between other subaccounts
or fixed rate option			(4,503,204)						(33,375,681)						(311,359,817)						(329,168,280)						209,764,487
Miscellaneous transactions			4,762						(392)						98,071						46,560						50,351
Other charges			(791,389)						(1,695,612)						(22,045,982)						(7,178,246)						(14,474,639)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(23,581,882)						(54,276,144)						(600,972,508)						(429,587,869)						38,921,869
TOTAL INCREASE (DECREASE) IN NET ASSETS			(123,696,452)						(81,107,697)						(1,367,283,130)						(633,156,817)						(371,845,810)
NET ASSETS
Beginning of period			335,133,276						287,381,639						4,367,170,808						1,488,908,707						2,349,635,445
End of period			$	211,436,824					$	206,273,942					$	2,999,887,678					$	855,751,890					$	1,977,789,635
Beginning units			7,975,559						14,489,026						167,294,445						87,953,773						98,657,466
Units issued			1,484,909						3,501,666						10,546,319						17,003,670						25,768,234
Units redeemed			(2,281,946)						(6,488,297)						(37,634,911)						(45,175,946)						(24,398,414)
Ending units			7,178,522						11,502,395						140,205,853						59,781,497						100,027,286

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

A52

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST Preservation Asset Allocation Portfolio						AST J.P. Morgan Global Thematic Portfolio						AST Core Fixed Income Portfolio						Davis Value Portfolio						Columbia Variable Portfolio - Small Company Growth Fund (Class 1)
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(14,651,173)					$	(5,170,147)					$	(17,940,282)					$	(1,916)					$	(3,765)
Capital gains distributions received			—						—						—						173,732						150,719
Net realized gain (loss) on shares redeemed			176,357,603						39,749,553						(43,995,075)						(63,858)						(19,968)
Net change in unrealized appreciation (depreciation) on investments			(388,596,915)						(135,463,323)						(206,195,761)						(325,370)						(324,985)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(226,890,485)						(100,883,917)						(268,131,118)						(217,412)						(197,999)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			4,131,971						85,752						2,952,012						4,166						216
Annuity payments			(1,128,342)						(756,719)						(2,450,075)						—						—
Surrenders, withdrawals and death benefits			(101,572,614)						(26,902,350)						(109,140,385)						(50,342)						(40,566)
Net transfers between other subaccounts
or fixed rate option			(247,378,568)						(79,289,648)						999,454,249						(73,663)						—
Miscellaneous transactions			20,919						19,021						(133,995)						(467)						(10)
Other charges			(6,970,375)						(4,315,659)						(10,186,946)						(2,471)						(243)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(352,897,009)						(111,159,603)						880,494,860						(122,777)						(40,603)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(579,787,494)						(212,043,520)						612,363,742						(340,189)						(238,602)
NET ASSETS
Beginning of period			1,424,281,078						567,183,712						648,117,887						1,048,089						551,897
End of period			$	844,493,584					$	355,140,192					$	1,260,481,629					$	707,900					$	313,295
Beginning units			72,797,117						27,020,038						42,948,812						34,881						6,411
Units issued			12,692,344						4,420,112						117,318,960						369						1
Units redeemed			(33,431,766)						(10,829,772)						(58,879,271)						(5,335)						(689)
Ending units			52,057,695						20,610,378						101,388,501						29,915						5,723

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

A53

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			PSF International Growth Portfolio (Class I)						ProFund VP Asia 30						ProFund VP Banks						ProFund VP Bear						ProFund VP Biotechnology
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(37,094)					$	(34,758)					$	(15,863)					$	(20,499)					$	(68,201)
Capital gains distributions received			—						485,692						—						—						1,016,609
Net realized gain (loss) on shares redeemed			120,904						(2,024,130)						(1,232,152)						52,673						(33,511)
Net change in unrealized appreciation (depreciation) on investments			(1,297,987)						216,382						51,320						57,391						(1,598,070)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(1,214,177)						(1,356,814)						(1,196,695)						89,565						(683,173)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			15,636						12,385						57,071						17,734						12,395
Annuity payments			(868)						(62,659)						(37,647)						(467)						(14,849)
Surrenders, withdrawals and death benefits			(223,996)						(466,632)						(294,127)						(56,354)						(628,220)
Net transfers between other subaccounts
or fixed rate option			(120,045)						355,150						(470,817)						453,404						(264,386)
Miscellaneous transactions			161						4,616						665						(879)						(198)
Other charges			(3,441)						(7,552)						(1,140)						(2,184)						(2,865)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(332,553)						(164,692)						(745,995)						411,254						(898,123)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(1,546,730)						(1,521,506)						(1,942,690)						500,819						(1,581,296)
NET ASSETS
Beginning of period			4,148,084						5,588,703						4,479,383						1,182,955						7,371,057
End of period			$	2,601,354					$	4,067,197					$	2,536,693					$	1,683,774					$	5,789,761
Beginning units			138,572						196,336						363,404						1,506,098						171,662
Units issued			13,248						119,985						859,601						19,725,735						36,419
Units redeemed			(28,038)						(122,811)						(972,212)						(19,250,920)						(59,373)
Ending units			123,782						193,510						250,793						1,980,913						148,708

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

A54

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			ProFund VP Materials						ProFund VP UltraBull						ProFund VP Bull						ProFund VP Consumer Discretionary						ProFund VP Consumer Staples
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(48,548)					$	(93,857)					$	(210,094)					$	(91,396)					$	(111,548)
Capital gains distributions received			46,587						1,839,861						1,746,578						62,326						305,714
Net realized gain (loss) on shares redeemed			265,088						(5,529,378)						(5,001,630)						(1,288,387)						1,052,676
Net change in unrealized appreciation (depreciation) on investments			(998,259)						(571,007)						(681,581)						(1,479,763)						(3,837,691)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(735,132)						(4,354,381)						(4,146,727)						(2,797,220)						(2,590,849)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			13,539						13,058						27,826						13,108						5,490
Annuity payments			(59)						(2,461)						(72,699)						(7,276)						(2,263)
Surrenders, withdrawals and death benefits			(495,020)						(566,102)						(2,378,141)						(449,830)						(545,410)
Net transfers between other subaccounts
or fixed rate option			560,358						(779,797)						2,467,905						(2,838,212)						(2,621,519)
Miscellaneous transactions			(1,755)						21,628						5,304						315						1,289
Other charges			(4,531)						(2,777)						(16,841)						(44,242)						(51,287)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			72,532						(1,316,451)						33,354						(3,326,137)						(3,213,700)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(662,600)						(5,670,832)						(4,113,373)						(6,123,357)						(5,804,549)
NET ASSETS
Beginning of period			5,246,708						11,514,608						18,549,791						10,419,328						12,043,695
End of period			$	4,584,108					$	5,843,776					$	14,436,418					$	4,295,971					$	6,239,146
Beginning units			168,680						203,513						519,835						272,101						324,745
Units issued			143,570						487,055						3,039,536						88,587						142,821
Units redeemed			(146,601)						(517,313)						(3,043,135)						(194,312)						(241,966)
Ending units			165,649						173,255						516,236						166,376						225,600

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

A55

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			ProFund VP Energy						ProFund VP Europe 30						ProFund VP Financials						ProFund VP U.S. Government Plus						ProFund VP Health Care
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	4,095					$	(8,794)					$	(152,081)					$	(49,012)					$	(323,512)
Capital gains distributions received			—						184,759						132,674						—						1,332,676
Net realized gain (loss) on shares redeemed			4,187,573						450,766						955,497						(2,069,741)						815,986
Net change in unrealized appreciation (depreciation) on investments			531,846						(1,233,770)						(3,324,493)						(44,129)						(4,418,901)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			4,723,514						(607,039)						(2,388,403)						(2,162,882)						(2,593,751)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			20,372						4,754						21,807						8,858						9,816
Annuity payments			(22,395)						(48,872)						(59,697)						(24,334)						(24,743)
Surrenders, withdrawals and death benefits			(2,319,091)						(460,006)						(905,684)						(448,280)						(1,456,349)
Net transfers between other subaccounts
or fixed rate option			2,472,859						(1,236,206)						(1,776,903)						(63,278)						(3,741,037)
Miscellaneous transactions			11,555						(204)						(416)						682						(425)
Other charges			(11,652)						(14,847)						(64,671)						(6,751)						(147,844)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			151,648						(1,755,381)						(2,785,564)						(533,103)						(5,360,582)
TOTAL INCREASE (DECREASE) IN NET ASSETS			4,875,162						(2,362,420)						(5,173,967)						(2,695,985)						(7,954,333)
NET ASSETS
Beginning of period			8,803,416						7,199,959						14,050,627						5,392,787						29,953,598
End of period			$	13,678,578					$	4,837,539					$	8,876,660					$	2,696,802					$	21,999,265
Beginning units			520,551						495,051						740,582						220,866						784,783
Units issued			720,168						170,793						292,410						630,809						266,492
Units redeemed			(718,768)						(303,033)						(464,103)						(661,745)						(431,251)
Ending units			521,951						362,811						568,889						189,930						620,024

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

A56

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			ProFund Access VP High Yield Fund						ProFund VP Industrials						ProFund VP Internet						ProFund VP Japan						ProFund VP Precious Metals
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	46,758					$	(97,248)					$	(57,393)					$	(46,021)					$	(126,338)
Capital gains distributions received			—						106,035						1,765,656						173,242						—
Net realized gain (loss) on shares redeemed			(102,116)						(74,892)						(1,241,636)						(312,636)						(1,555,556)
Net change in unrealized appreciation (depreciation) on investments			(237,571)						(1,661,819)						(3,986,926)						(256,070)						382,416
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(292,929)						(1,727,924)						(3,520,299)						(441,485)						(1,299,478)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			3,657						3,462						6,223						2,660						29,444
Annuity payments			(11,374)						(321)						(59,435)						(35,691)						(18,792)
Surrenders, withdrawals and death benefits			(390,959)						(509,830)						(413,169)						(237,224)						(880,688)
Net transfers between other subaccounts
or fixed rate option			(540,458)						(1,913,833)						(739,954)						(535,263)						(310,302)
Miscellaneous transactions			(598)						(3,967)						(2,619)						82						1,168
Other charges			(1,330)						(34,324)						(1,649)						(7,043)						(11,958)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(941,062)						(2,458,813)						(1,210,603)						(812,479)						(1,191,128)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(1,233,991)						(4,186,737)						(4,730,902)						(1,253,964)						(2,490,606)
NET ASSETS
Beginning of period			3,463,290						10,209,527						8,382,369						4,162,030						12,797,143
End of period			$	2,229,299					$	6,022,790					$	3,651,467					$	2,908,066					$	10,306,537
Beginning units			157,807						271,333						61,575						250,787						1,226,848
Units issued			28,396						209,943						13,513						87,263						2,672,861
Units redeemed			(75,266)						(291,267)						(24,726)						(139,968)						(2,784,731)
Ending units			110,937						190,009						50,362						198,082						1,114,978

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

A57

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			ProFund VP Mid-Cap Growth						ProFund VP Mid-Cap Value						ProFund VP Pharmaceuticals						ProFund VP Real Estate						ProFund VP Rising Rates Opportunity
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(169,177)					$	(128,133)					$	(24,412)					$	(34,102)					$	(56,438)
Capital gains distributions received			2,473,567						1,487,347						137,229						382,274						—
Net realized gain (loss) on shares redeemed			(2,778,046)						(707,992)						166,537						242,571						1,278,051
Net change in unrealized appreciation (depreciation) on investments			(3,226,601)						(1,981,440)						(500,372)						(2,713,002)						218,046
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(3,700,257)						(1,330,218)						(221,018)						(2,122,259)						1,439,659
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			6,569						17,419						5,082						9,654						7,798
Annuity payments			(13,784)						(34,202)						(21,435)						(20,262)						(7,848)
Surrenders, withdrawals and death benefits			(829,229)						(935,490)						(279,909)						(502,565)						(363,156)
Net transfers between other subaccounts
or fixed rate option			(3,298,418)						(922,794)						(32,724)						(816,245)						1,397,938
Miscellaneous transactions			(2,951)						(5,241)						(161)						8						(5,328)
Other charges			(60,066)						(41,962)						(2,184)						(24,435)						(5,157)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(4,197,879)						(1,922,270)						(331,331)						(1,353,845)						1,024,247
TOTAL INCREASE (DECREASE) IN NET ASSETS			(7,898,136)						(3,252,488)						(552,349)						(3,476,104)						2,463,906
NET ASSETS
Beginning of period			18,327,125						13,477,520						2,571,439						7,641,193						1,874,814
End of period			$	10,428,989					$	10,225,032					$	2,019,090					$	4,165,089					$	4,338,720
Beginning units			469,768						386,928						120,467						194,606						2,141,079
Units issued			205,693						239,602						84,841						119,482						12,655,655
Units redeemed			(331,624)						(298,828)						(103,267)						(168,433)						(11,642,337)
Ending units			343,837						327,702						102,041						145,655						3,154,397

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

A58

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			ProFund VP NASDAQ-100						ProFund VP Semiconductor						ProFund VP Small-Cap Growth						ProFund VP Short Mid-Cap						ProFund VP Short NASDAQ-100
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(278,487)					$	(48,733)					$	(155,125)					$	(2,203)					$	(21,445)
Capital gains distributions received			4,139,945						279,587						1,660,856						—						—
Net realized gain (loss) on shares redeemed			(11,067,612)						(1,407,349)						(1,818,232)						(10,940)						104,423
Net change in unrealized appreciation (depreciation) on investments			(2,026,386)						(1,270,938)						(3,353,703)						1,803						88,769
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(9,232,540)						(2,447,433)						(3,666,204)						(11,340)						171,747
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			132,248						14,878						16,562						29						1,583
Annuity payments			(151,123)						(493)						(2,045)						(131)						(74)
Surrenders, withdrawals and death benefits			(1,603,429)						(453,413)						(685,182)						(4,057)						(35,985)
Net transfers between other subaccounts
or fixed rate option			(7,906,567)						(1,327,312)						(3,373,020)						67,629						1,446,592
Miscellaneous transactions			(3,634)						(2,429)						2,451						(969)						(1,729)
Other charges			(20,699)						(1,513)						(50,203)						(107)						(2,849)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(9,553,204)						(1,770,282)						(4,091,437)						62,394						1,407,538
TOTAL INCREASE (DECREASE) IN NET ASSETS			(18,785,744)						(4,217,715)						(7,757,641)						51,054						1,579,285
NET ASSETS
Beginning of period			34,898,797						7,131,570						16,536,310						42,145						544,760
End of period			$	16,113,053					$	2,913,855					$	8,778,669					$	93,199					$	2,124,045
Beginning units			731,362						146,905						369,507						61,202						2,598,183
Units issued			1,470,691						378,163						147,343						3,009,299						52,118,323
Units redeemed			(1,678,005)						(423,720)						(261,217)						(2,939,265)						(46,928,528)
Ending units			524,048						101,348						255,633						131,236						7,787,978

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

A59

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			ProFund VP Short Small-Cap						ProFund VP Small-Cap Value						ProFund VP Technology						ProFund VP Communication Services						ProFund VP UltraMid-Cap
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(6,162)					$	(120,393)					$	(96,705)					$	12,423					$	(79,637)
Capital gains distributions received			—						1,510,630						1,375,444						—						2,589,896
Net realized gain (loss) on shares redeemed			13,388						(1,146,631)						(4,934,041)						54,900						(1,728,997)
Net change in unrealized appreciation (depreciation) on investments			10,645						(1,815,825)						(682,095)						(842,417)						(3,926,408)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			17,871						(1,572,219)						(4,337,397)						(775,094)						(3,145,146)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			308						26,096						16,955						826						7,891
Annuity payments			(338)						(41,062)						(94,747)						(23,667)						—
Surrenders, withdrawals and death benefits			(6,707)						(721,387)						(2,706,022)						(176,135)						(972,525)
Net transfers between other subaccounts
or fixed rate option			127,515						(1,927,565)						(312,951)						(855,347)						(525,989)
Miscellaneous transactions			48						(2,838)						(1,424)						1,577						(9,460)
Other charges			(211)						(37,607)						(2,802)						(17,952)						(5,142)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			120,615						(2,704,363)						(3,100,991)						(1,070,698)						(1,505,225)
TOTAL INCREASE (DECREASE) IN NET ASSETS			138,486						(4,276,582)						(7,438,388)						(1,845,792)						(4,650,371)
NET ASSETS
Beginning of period			207,574						11,758,711						13,299,320						3,769,532						10,092,707
End of period			$	346,060					$	7,482,129					$	5,860,932					$	1,923,740					$	5,442,336
Beginning units			345,067						380,857						346,697						307,206						142,054
Units issued			6,888,078						173,718						1,107,174						245,993						54,648
Units redeemed			(6,740,507)						(273,811)						(1,213,822)						(346,361)						(82,116)
Ending units			492,638						280,764						240,049						206,838						114,586

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

A60

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			ProFund VP UltraNASDAQ-100						ProFund VP UltraSmall-Cap						ProFund VP Utilities						ProFund VP Large-Cap Growth						ProFund VP Large-Cap Value
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(451,314)					$	(57,545)					$	(60,940)					$	(191,366)					$	(91,680)
Capital gains distributions received			24,117,528						939,284						184,933						2,728,228						134,630
Net realized gain (loss) on shares redeemed			(47,389,417)						(3,992,751)						(249,550)						(2,127,532)						1,110,881
Net change in unrealized appreciation (depreciation) on investments			(23,203,088)						(71,349)						(345,566)						(6,416,082)						(2,108,663)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(46,926,291)						(3,182,361)						(471,123)						(6,006,752)						(954,832)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			61,012						5,605						20,223						24,416						14,186
Annuity payments			(125,482)						(71,140)						(7,653)						(98,299)						(315)
Surrenders, withdrawals and death benefits			(2,302,589)						(472,532)						(1,712,421)						(591,524)						(664,459)
Net transfers between other subaccounts
or fixed rate option			(19,788,367)						(417,667)						2,537,362						(3,286,640)						1,338,641
Miscellaneous transactions			(269,227)						(9,094)						7,726						(124)						488
Other charges			(13,758)						(1,889)						(79,972)						(49,411)						(41,002)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(22,438,411)						(966,717)						765,265						(4,001,582)						647,539
TOTAL INCREASE (DECREASE) IN NET ASSETS			(69,364,702)						(4,149,078)						294,142						(10,008,334)						(307,293)
NET ASSETS
Beginning of period			89,893,386						7,315,804						15,807,659						21,195,420						10,423,993
End of period			$	20,528,684					$	3,166,726					$	16,101,801					$	11,187,086					$	10,116,700
Beginning units			2,194,760						185,796						544,921						455,336						438,078
Units issued			881,992						398,727						396,740						231,840						554,396
Units redeemed			(1,744,380)						(441,032)						(384,099)						(336,668)						(527,155)
Ending units			1,332,372						143,491						557,562						350,508						465,319

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

A61

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			Rydex VT Nova Fund						Rydex VT NASDAQ-100® Fund						Rydex VT Inverse S&P 500® Strategy Fund						Invesco V.I. Health Care Fund (Series I)						Invesco V.I. Technology Fund (Series I)
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(12,944)					$	(124,051)					$	(200)					$	(254,303)					$	(233,502)
Capital gains distributions received			152,891						304,729						—						2,669,821						6,493,431
Net realized gain (loss) on shares redeemed			138,189						784,535						(9,438)						189,492						986,280
Net change in unrealized appreciation (depreciation) on investments			(814,311)						(5,080,054)						11,654						(6,294,845)						(17,609,597)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(536,175)						(4,114,841)						2,016						(3,689,835)						(10,363,388)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			2,937						21,597						8						46,130						133,113
Annuity payments			—						(6,994)						(264)						(32,599)						(183,704)
Surrenders, withdrawals and death benefits			(56,408)						(616,042)						(97)						(1,920,926)						(1,256,393)
Net transfers between other subaccounts
or fixed rate option			(75,539)						(318,040)						172						(485,301)						(784,344)
Miscellaneous transactions			131						1,212						—						(650)						(1,504)
Other charges			(710)						(10,004)						(10)						(18,517)						(16,226)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(129,589)						(928,271)						(191)						(2,411,863)						(2,109,058)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(665,764)						(5,043,112)						1,825						(6,101,698)						(12,472,446)
NET ASSETS
Beginning of period			1,755,841						12,095,871						12,620						25,409,063						26,487,328
End of period			$	1,090,077					$	7,052,759					$	14,445					$	19,307,365					$	14,014,882
Beginning units			53,204						270,655						14,333						543,098						1,010,497
Units issued			670						555						1,864						32,303						46,671
Units redeemed			(5,837)						(28,275)						(1,928)						(95,423)						(145,281)
Ending units			48,037						242,935						14,269						479,978						911,887

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

A62

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			Allspring VT Index Asset Allocation Fund (Class 2)						Allspring VT International Equity Fund (Class 2)						Allspring VT Small Cap Growth Fund (Class 2)						AST Prudential Growth Allocation Portfolio						AST Advanced Strategies Portfolio
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(116,493)					$	3,982					$	(16,946)					$	(35,491,487)					$	(16,106,675)
Capital gains distributions received			1,697,287						—						199,327						—						—
Net realized gain (loss) on shares redeemed			1,066,060						(23,850)						3,745						334,293,268						175,645,256
Net change in unrealized appreciation (depreciation) on investments			(5,825,614)						(7,721)						(793,393)						(1,047,134,495)						(422,613,838)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(3,178,760)						(27,589)						(607,267)						(748,332,714)						(263,075,257)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			15,021						2,504						2,377						1,689,332						1,358,359
Annuity payments			(26,994)						(13)						—						(1,612,049)						(1,186,169)
Surrenders, withdrawals and death benefits			(1,123,059)						(11,043)						(53,414)						(204,268,209)						(97,766,368)
Net transfers between other subaccounts
or fixed rate option			(669,366)						(337)						(90,881)						(793,170,687)						(153,339,494)
Miscellaneous transactions			813						—						—						87,399						28,049
Other charges			(4,188)						(38)						(508)						(26,766,734)						(8,477,537)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(1,807,773)						(8,927)						(142,426)						(1,024,040,948)						(259,383,160)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(4,986,533)						(36,516)						(749,693)						(1,772,373,662)						(522,458,417)
NET ASSETS
Beginning of period			18,374,220						210,454						1,776,517						3,982,815,609						1,530,769,029
End of period			$	13,387,687					$	173,938					$	1,026,824					$	2,210,441,947					$	1,008,310,612
Beginning units			268,004						18,649						34,703						193,478,759						61,572,515
Units issued			156						460						291						43,074,496						6,215,041
Units redeemed			(29,485)						(1,538)						(3,948)						(103,067,877)						(18,418,999)
Ending units			238,675						17,571						31,046						133,485,378						49,368,557

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

A63

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST Investment Grade Bond Portfolio						AST Cohen & Steers Global Realty Portfolio						AST Emerging Markets Equity Portfolio						Allspring VT Discovery All Cap Growth Fund (Class 2)						Allspring VT Discovery All Cap Growth Fund (Class 1)
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(28,856,720)					$	(225,870)					$	(851,581)					$	(23,572)					$	(170,360)
Capital gains distributions received			—						—						—						384,040						2,977,794
Net realized gain (loss) on shares redeemed			(167,387,652)						3,484,019						9,630,716						19,237						(56,764)
Net change in unrealized appreciation (depreciation) on investments			31,256,077						(10,455,451)						(31,717,787)						(1,275,181)						(10,153,557)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(164,988,295)						(7,197,302)						(22,938,652)						(895,476)						(7,402,887)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			—						90,655						12,853						3,090						19,881
Annuity payments			(1,738,781)						(1,205)						(32,158)						—						(22,868)
Surrenders, withdrawals and death benefits			(186,336,584)						(1,433,114)						(4,577,269)						(177,555)						(1,219,955)
Net transfers between other subaccounts
or fixed rate option			3,238,050,387						(6,337,023)						(27,707,427)						10,167						(1,541,746)
Miscellaneous transactions			(1,531)						(705)						(123)						861						20,045
Other charges			(31,168,114)						(203,072)						(775,425)						(784)						(13,628)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			3,018,805,377						(7,884,464)						(33,079,549)						(164,221)						(2,758,271)
TOTAL INCREASE (DECREASE) IN NET ASSETS			2,853,817,082						(15,081,766)						(56,018,201)						(1,059,697)						(10,161,158)
NET ASSETS
Beginning of period			675,549,562						31,096,725						112,132,612						2,414,328						20,626,211
End of period			$	3,529,366,644					$	16,014,959					$	56,114,411					$	1,354,631					$	10,465,053
Beginning units			34,563,117						1,483,208						10,304,271						45,056						363,703
Units issued			390,862,754						488,919						4,007,199						516						17,701
Units redeemed			(213,804,081)						(932,115)						(7,629,371)						(4,743)						(79,486)
Ending units			211,621,790						1,040,012						6,682,099						40,829						301,918

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

A64

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			Allspring VT Small Cap Growth Fund (Class 1)						Allspring VT International Equity Fund (Class 1)						AST Bond Portfolio 2022						AST Quantitative Modeling Portfolio						AST BlackRock Global Strategies Portfolio
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(139,542)					$	170,367					$	(565,485)					$	(495,441)					$	(960,745)
Capital gains distributions received			1,749,989						—						—						—						—
Net realized gain (loss) on shares redeemed			(378,205)						(711,760)						(213,162)						3,071,303						5,658,302
Net change in unrealized appreciation (depreciation) on investments			(6,746,499)						(396,618)						(566,767)						(13,054,104)						(21,804,713)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(5,514,257)						(938,011)						(1,345,414)						(10,478,242)						(17,107,156)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			16,239						28,717						—						223,563						21,210
Annuity payments			(51,746)						(30,312)						(58,897)						—						(24,638)
Surrenders, withdrawals and death benefits			(915,365)						(561,892)						(3,231,864)						(7,632,568)						(6,041,057)
Net transfers between other subaccounts
or fixed rate option			(311,227)						(315,225)						(50,531,035)						(655,225)						(22,655,773)
Miscellaneous transactions			(43,545)						42,896						557						2,312						5,324
Other charges			(11,518)						(6,635)						(30,447)						(18,480)						(555,663)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(1,317,162)						(842,451)						(53,851,686)						(8,080,398)						(29,250,597)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(6,831,419)						(1,780,462)						(55,197,100)						(18,558,640)						(46,357,753)
NET ASSETS
Beginning of period			16,147,775						7,521,593						55,275,304						55,719,954						101,480,930
End of period			$	9,316,356					$	5,741,131					$	78,204					$	37,161,314					$	55,123,177
Beginning units			344,384						352,383						4,589,641						2,578,929						6,381,407
Units issued			29,438						27,367						770,761						33,977						1,403,905
Units redeemed			(67,853)						(71,426)						(5,353,914)						(464,165)						(3,544,012)
Ending units			305,969						308,324						6,488						2,148,741						4,241,300

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

A65

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			Invesco V.I. Diversified Dividend Fund (Series I)						Columbia Variable Portfolio - U.S. Government Mortgage Fund (Class 1)						Columbia Variable Portfolio - Large Cap Growth Fund (Class 1)						Allspring VT Opportunity Fund (Class 1)						Allspring VT Opportunity Fund (Class 2)
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	80,218					$	1,655					$	(53,401)					$	(31,332)					$	(67,102)
Capital gains distributions received			1,826,522						—						—						440,600						911,365
Net realized gain (loss) on shares redeemed			306,826						(4,504)						442,733						13,189						209,571
Net change in unrealized appreciation (depreciation) on investments			(2,783,211)						(26,867)						(2,648,103)						(1,008,707)						(2,338,307)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(569,645)						(29,716)						(2,258,771)						(586,250)						(1,284,473)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			53,202						239						2,487						5,472						4,344
Annuity payments			(37,329)						(2,734)						(8,431)						—						(98,276)
Surrenders, withdrawals and death benefits			(1,520,852)						(46,993)						(398,980)						(50,345)						(286,415)
Net transfers between other subaccounts
or fixed rate option			1,052,975						(2,043)						(122,331)						(189,635)						(41,804)
Miscellaneous transactions			(686)						—						196						—						153
Other charges			(14,032)						(171)						(2,648)						(4,014)						(1,434)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(466,722)						(51,702)						(529,707)						(238,522)						(423,432)
TOTAL INCREASE (DECREASE) IN NET ASSETS			(1,036,367)						(81,418)						(2,788,478)						(824,772)						(1,707,905)
NET ASSETS
Beginning of period			15,978,281						222,976						7,204,493						2,777,108						6,052,850
End of period			$	14,941,914					$	141,558					$	4,416,015					$	1,952,336					$	4,344,945
Beginning units			646,951						19,104						158,505						72,343						161,799
Units issued			192,498						231						441						414						198
Units redeemed			(215,861)						(5,067)						(15,924)						(7,788)						(13,256)
Ending units			623,588						14,268						143,022						64,969						148,741

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

A66

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST Bond Portfolio 2023						AST MFS Growth Allocation Portfolio						AST Western Asset Emerging Markets Debt Portfolio						AST Bond Portfolio 2024						AST ClearBridge Dividend Growth Portfolio
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(761,397)					$	(2,014,774)					$	(13,501)					$	(55,680)					$	(753,429)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			415,782						16,205,701						(84,799)						(197,825)						9,500,544
Net change in unrealized appreciation (depreciation) on investments			(1,162,978)						(50,037,697)						(298,641)						12,093						(15,681,258)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(1,508,593)						(35,846,770)						(396,941)						(241,412)						(6,934,143)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			—						933,974						200						—						21,364
Annuity payments			(86,739)						(101,650)						—						—						(44,140)
Surrenders, withdrawals and death benefits			(5,808,216)						(11,233,309)						(36,571)						(628,149)						(4,846,525)
Net transfers between other subaccounts
or fixed rate option			62,567,716						(20,731,379)						199,749						993,968						(4,336,170)
Miscellaneous transactions			(1,961)						(6,800)						(20)						(60)						114
Other charges			(19,532)						(860,220)						(79)						(1,876)						(520,374)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			56,651,268						(31,999,384)						163,279						363,883						(9,725,731)
TOTAL INCREASE (DECREASE) IN NET ASSETS			55,142,675						(67,846,154)						(233,662)						122,471						(16,659,874)
NET ASSETS
Beginning of period			14,596,709						191,470,155						2,277,084						3,660,338						72,764,869
End of period			$	69,739,384					$	123,624,001					$	2,043,422					$	3,782,809					$	56,104,995
Beginning units			1,313,619						9,859,164						192,082						349,822						2,789,758
Units issued			6,955,757						1,731,696						129,558						540,887						1,113,359
Units redeemed			(1,322,405)						(3,731,161)						(115,720)						(504,113)						(1,552,733)
Ending units			6,946,971						7,859,699						205,920						386,596						2,350,384

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

A67

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			Columbia Variable Portfolio - Government Money Market Fund (Class 1)						Columbia Variable Portfolio - Income Opportunities Fund (Class 1)						AST Large-Cap Core Portfolio						AST Bond Portfolio 2025						AST Bond Portfolio 2026
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	5,396					$	5,649					$	(1,570,752)					$	(65,797)					$	(424,005)
Capital gains distributions received			—						4,646						—						—						—
Net realized gain (loss) on shares redeemed			—						(4,100)						(4,943,893)						(204,693)						(494,644)
Net change in unrealized appreciation (depreciation) on investments			—						(21,956)						(22,752,646)						(10,869)						(2,226,650)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			5,396						(15,761)						(29,267,291)						(281,359)						(3,145,299)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			2,020						71						1,050,842						—						—
Annuity payments			—						—						(149,277)						—						—
Surrenders, withdrawals and death benefits			(199,167)						(1,884)						(9,247,072)						(217,878)						(2,893,684)
Net transfers between other subaccounts
or fixed rate option			240,542						(5,921)						(21,809,434)						3,649,443						2,067,060
Miscellaneous transactions			(38)						41						(39,751)						—						(692)
Other charges			(2,092)						(44)						(749,664)						(1,201)						(15,369)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			41,265						(7,737)						(30,944,356)						3,430,364						(842,685)
TOTAL INCREASE (DECREASE) IN NET ASSETS			46,661						(23,498)						(60,211,647)						3,149,005						(3,987,984)
NET ASSETS
Beginning of period			2,829,857						147,209						170,350,121						1,139,213						25,560,293
End of period			$	2,876,518					$	123,711					$	110,138,474					$	4,288,218					$	21,572,309
Beginning units			296,491						10,461						6,174,032						93,009						2,372,208
Units issued			24,648						6						1,048,729						597,523						588,735
Units redeemed			(20,323)						(599)						(2,365,488)						(302,616)						(673,008)
Ending units			300,816						9,868						4,857,273						387,916						2,287,935

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

A68

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST Bond Portfolio 2027						NVIT Emerging Markets Fund (Class D)						AST Bond Portfolio 2028						AST Bond Portfolio 2029						AST Bond Portfolio 2030
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(850,781)					$	(177,699)					$	(1,376,754)					$	(68,897)					$	(647,581)
Capital gains distributions received			—						—						—						—						—
Net realized gain (loss) on shares redeemed			(1,951,007)						274,073						(1,752,719)						(241,267)						(918,602)
Net change in unrealized appreciation (depreciation) on investments			(4,005,397)						(5,340,646)						(9,870,370)						(128,863)						(7,678,585)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(6,807,185)						(5,244,272)						(12,999,843)						(439,027)						(9,244,768)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			—						52,072						—						—						—
Annuity payments			—						(79,332)						(310,422)						—						—
Surrenders, withdrawals and death benefits			(5,107,472)						(1,257,881)						(10,339,121)						(227,715)						(5,489,480)
Net transfers between other subaccounts
or fixed rate option			16,626,947						(806,930)						34,611,734						5,333,682						3,516,400
Miscellaneous transactions			48						118						3,134						(167)						(169)
Other charges			(16,296)						(18,725)						(27,992)						(535)						(25,159)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			11,503,227						(2,110,678)						23,937,333						5,105,265						(1,998,408)
TOTAL INCREASE (DECREASE) IN NET ASSETS			4,696,042						(7,354,950)						10,937,490						4,666,238						(11,243,176)
NET ASSETS
Beginning of period			38,850,037						21,041,346						60,975,020						—						51,992,323
End of period			$	43,546,079					$	13,686,396					$	71,912,510					$	4,666,238					$	40,749,147
Beginning units			3,610,221						1,550,335						5,445,055						—						4,328,385
Units issued			2,689,237						121,735						4,611,472						862,181						526,942
Units redeemed			(1,563,227)						(310,447)						(2,442,024)						(358,915)						(694,896)
Ending units			4,736,231						1,361,623						7,614,503						503,266						4,160,431

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

A69

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			AST Bond Portfolio 2031						MFS® International Growth Portfolio (Service Class)						MFS® Total Return Bond Series (Service Class)						MFS® Total Return Series (Service Class)						MFS® Value Series (Service Class)
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/1/2022
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	(692,690)					$	(19,542)					$	37,665					$	(9,333)					$	(22,700)
Capital gains distributions received			—						76,841						45,541						417,938						531,638
Net realized gain (loss) on shares redeemed			(1,066,151)						(520,413)						(1,039,808)						(1,458,125)						(997,637)
Net change in unrealized appreciation (depreciation) on investments			(7,969,284)						(94,763)						(38,796)						(94,899)						(750,301)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			(9,728,125)						(557,877)						(995,398)						(1,144,419)						(1,239,000)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			—						92,676						474,827						739,226						414,124
Annuity payments			—						—						—						—						—
Surrenders, withdrawals and death benefits			(7,382,922)						(1,869,963)						(5,494,136)						(8,230,218)						(10,112,609)
Net transfers between other subaccounts
or fixed rate option			19,453,176						(222,838)						1,904,405						(72,582)						1,677,862
Miscellaneous transactions			1,013						519						166						1,236						22,707
Other charges			(19,911)						—						—						—						—
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			12,051,356						(1,999,606)						(3,114,738)						(7,562,338)						(7,997,916)
TOTAL INCREASE (DECREASE) IN NET ASSETS			2,323,231						(2,557,483)						(4,110,136)						(8,706,757)						(9,236,916)
NET ASSETS
Beginning of period			35,399,563						3,151,481						6,902,401						9,494,000						12,514,377
End of period			$	37,722,794					$	593,998					$	2,792,265					$	787,243					$	3,277,461
Beginning units			3,392,311						218,499						661,442						704,017						799,316
Units issued			3,123,762						16,631						291,751						175,277						302,338
Units redeemed			(1,993,587)						(185,956)						(637,099)						(813,662)						(875,730)
Ending units			4,522,486						49,174						316,094						65,632						225,924

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

A70

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FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

STATEMENTS OF CHANGES IN NET ASSETS

For the period ended December 31, 2022

			SUBACCOUNTS
			PSF PGIM Government Money Market Portfolio (Class III)						Invesco V.I. Discovery Mid Cap Growth Fund (Series I)						AST Global Bond Portfolio						AST Bond Portfolio 2032						AST Bond Portfolio 2033
			1/1/2022						1/1/2022						1/1/2022						1/1/2022						1/3/2022*
			to						to						to						to						to
			12/31/2022						12/31/2022						12/31/2022						12/31/2022						12/31/2022
OPERATIONS
Net investment income (loss)			$	462,383					$	(139,807)					$	(1,110,970)					$	(1,033,761)					$	(2,541)
Capital gains distributions received			—						2,773,955						—						—						—
Net realized gain (loss) on shares redeemed			—						202,258						(4,009,406)						(2,633,720)						(9,337)
Net change in unrealized appreciation (depreciation) on investments			—						(7,630,668)						(7,707,828)						(13,262,992)						6,738
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM OPERATIONS			462,383						(4,794,262)						(12,828,204)						(16,930,473)						(5,140)
CONTRACT OWNER TRANSACTIONS
Contract owner net payments			38,565,009						26,148						168,946						—						—
Annuity payments			—						(121,977)						(218,005)						—						—
Surrenders, withdrawals and death benefits			(127,634,905)						(1,012,427)						(6,600,505)						(7,724,347)						(3,324)
Net transfers between other subaccounts
or fixed rate option			2,688,116						(700,488)						(12,303,151)						38,040,973						513,791
Miscellaneous transactions			(87,592)						138						1,487						1,336						—
Other charges			(3,611)						(12,126)						(343,516)						(24,170)						(64)
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CONTRACT OWNER TRANSACTIONS			(86,472,983)						(1,820,732)						(19,294,744)						30,293,792						510,403
TOTAL INCREASE (DECREASE) IN NET ASSETS			(86,010,600)						(6,614,994)						(32,122,948)						13,363,319						505,263
NET ASSETS
Beginning of period			110,216,859						15,469,173						103,216,603						52,363,082						—
End of period			$	24,206,259					$	8,854,179					$	71,093,655					$	65,726,401					$	505,263
Beginning units			11,016,778						910,262						10,542,857						5,609,454						—
Units issued			5,283,985						30,382						2,407,488						7,247,510						158,343
Units redeemed			(13,910,321)						(176,179)						(4,567,245)						(3,907,816)						(93,730)
Ending units			2,390,442						764,465						8,383,100						8,949,148						64,613

*Date subaccount became available for investment.

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

A71

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NOTES TO FINANCIAL STATEMENTS OF

FORTITUDE LIFE INSURANCE & ANNUITY COMPANY VARIABLE ACCOUNT B

December 31, 2023

Note 1:    General

Fortitude Life Insurance & Annuity Company Variable Account B (the "Account", formerly Prudential Annuities Life Assurance Corporation Variable Account B) was established under the laws of the State of Connecticut on November 25, 1987 to fund variable annuities offered by Prudential Annuities Life Assurance Corporation (“PALAC", now known as Fortitude Life Insurance & Annuity Company ("FLIAC")). Prior to April 1, 2022, PALAC was a wholly-owned subsidiary of Prudential Annuities, Inc. ("PAI") which was an indirect, wholly-owned subsidiary of Prudential Financial, Inc. (“Prudential Financial”). On April 1, 2022, PAI completed the sale of its equity interest in PALAC to Fortitude Group Holdings, LLC (“FGH”), the parent company of Fortitude Reinsurance Company, Ltd, and as a result, FLIAC became a wholly-owned subsidiary of FGH and is no longer an affiliate of Prudential Financial or any of its affiliates.

On April 1, 2022, FGH and Prudential Financial entered into an Administrative Service Agreement whereby Prudential Financial continues to administer and service the contracts noted below, including the payment of benefits and oversight of investment management.

Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from the other assets and liabilities of FLIAC. The assets of the Account will not be charged with any liabilities arising out of any other business FLIAC may conduct. However, the Account’s obligations, including insurance benefits related to the variable annuities, are the obligations of FLIAC.

On August 30, 2013, PALAC received approval from the Arizona and Connecticut Departments of Insurance to redomesticate PALAC from Connecticut to Arizona effective August 31, 2013. As a result of the redomestication and sale, FLIAC is an Arizona insurance company and its principal insurance regulatory authority is the Arizona Department of Insurance. The Account is operated in accordance with the laws of Arizona. There was no impact to the operation of the Account.

The Account is registered with the Securities and Exchange Commission (“SEC”) under the Investment Company Act of 1940, as amended, as a unit investment trust. The Account is a funding vehicle for several flexible premium deferred individual variable annuity contracts, as well as two immediate individual variable annuities issued by FLIAC (individually, a “contract” or “product” and collectively, the “contracts” or “products”). The following is a list of each contract funded through the Account.

A72

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Note 1:    General (continued)

Advanced Series Advisor Plan (“ASAP”)			Advanced Series XTra Credit Premier (“XTra Credit
Advanced Series Advisor Plan II (“ASAP II”)			Premier”)
Advanced Series Advisor Plan II Premier (“ASAP II			Advanced Series XTra Credit SIX (“XTra Credit SIX”)
Premier”)			Alliance Capital Navigator (“ACN”)
Advanced Series Advisor Plan III (“ASAP III”)			Defined Investments Annuity
Advanced Series Advisors Choice (“Choice”)			Emerald Choice
Advanced Series Advisors Choice 2000 (“Choice 2000”)			Galaxy Variable Annuity III (“Galaxy III”)
Advanced Series Advisors Income Annuity (“ASAIA”)			Harvester Variable Annuity (“Harvester Variable Annuity”)
Advanced Series Apex (“Apex”)			Harvester XTra Credit (“Harvester XTra Credit”)
Advanced Series Apex II (“Apex II”)			Imperium
Advanced Series Cornerstone ("AS Cornerstone")			LifeVest Personal Security Annuity (“PSA”)
Advanced Series Impact (“AS Impact”)			Prudential FlexGuard
Advanced Series LifeVest (“ASL”)			Prudential FlexGuard Income
Advanced Series LifeVest II (“ASL II”)			Stagecoach Apex II
Advanced Series LifeVest II Premier (ASL II Premier”)			Stagecoach ASAP III
Advanced Series LifeVest Premier (“ASL Premier”)			Stagecoach XTra Credit SIX
Advanced Series Optimum ("Optimum")			Wells Fargo Stagecoach Apex
Advanced Series Optimum Four ("Optimum Four")			Wells Fargo Stagecoach Extra Credit Variable Annuity
Advanced Series Optimum Plus ("Optimum Plus")			(“Stagecoach Extra Credit”)
Advanced Series Optimum XTra ("Optimum XTra")			Wells Fargo Stagecoach Variable Annuity (“Stagecoach”)
Advanced Series Protector (“AS Protector”)			Wells Fargo Stagecoach Variable Annuity Flex (“Stagecoach
Advanced Series Variable Immediate Annuity (“ASVIA”)			Flex”)
Advanced Series XTra Credit (“XTra Credit”)			Wells Fargo Stagecoach Variable Annuity Plus (“Stagecoach
Advanced Series XTra Credit EIGHT (“XTra Credit EIGHT”)			VA+”)
Advanced Series XTra Credit FOUR (“XTtra Credit FOUR”)
Advanced Series XTra Credit FOUR Premier (“XTra Credit
FOUR Premier")

The contracts may be used as an investment vehicle for “qualified” investments, including an Individual Retirement Account, Simplified Employee Pension Individual Retirement Account, Roth Individual Retirement Account or Tax Sheltered Annuity (403 (b)) or as an investment vehicle for “non-qualified” investments. When a contract is purchased as a “qualified” investment, it does not provide any tax advantages in addition to the preferential treatment already available under the Internal Revenue Code.

The contracts offer the option to invest in various subaccounts listed below (collectively, the “Portfolios”). Investment options vary by contract.

The corresponding subaccount names are as follows:

AST Large-Cap Growth Portfolio
AST Government Money Market Portfolio
AST Cohen & Steers Realty Portfolio
AST J.P. Morgan Tactical Preservation Portfolio
AST High Yield Portfolio
AST Small-Cap Value Portfolio
AST Mid-Cap Growth Portfolio
AST Large-Cap Value Portfolio
AST Mid-Cap Value Portfolio
AST Small-Cap Growth Portfolio
AST T. Rowe Price Natural Resources Portfolio
AST T. Rowe Price Asset Allocation Portfolio
AST International Value Portfolio*
AST MFS Global Equity Portfolio
AST J.P. Morgan International Equity Portfolio*
AST International Equity Portfolio (formerly AST International Growth Portfolio)
AST Wellington Management Hedged Equity Portfolio*
AST Capital Growth Asset Allocation Portfolio
AST Academic Strategies Asset Allocation Portfolio
AST Balanced Asset Allocation Portfolio

A73

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Note 1:    General (continued)

AST Preservation Asset Allocation Portfolio
AST J.P. Morgan Global Thematic Portfolio
AST Core Fixed Income Portfolio
Davis Value Portfolio
Columbia Variable Portfolio - Small Company Growth Fund (Class 1)
PSF International Growth Portfolio (Class I)*
ProFund VP Asia 30
ProFund VP Banks
ProFund VP Bear
ProFund VP Biotechnology
ProFund VP Materials (formerly ProFund VP Basic Materials)
ProFund VP UltraBull
ProFund VP Bull
ProFund VP Consumer Discretionary (formerly ProFund VP Consumer Services)
ProFund VP Consumer Staples (formerly ProFund VP Consumer Goods)
ProFund VP Energy (formerly ProFund VP Oil & Gas)
ProFund VP Europe 30
ProFund VP Financials
ProFund VP U.S. Government Plus
ProFund VP Health Care
ProFund Access VP High Yield Fund
ProFund VP Industrials
ProFund VP Internet
ProFund VP Japan
ProFund VP Precious Metals
ProFund VP Mid-Cap Growth
ProFund VP Mid-Cap Value
ProFund VP Pharmaceuticals
ProFund VP Real Estate
ProFund VP Rising Rates Opportunity
ProFund VP NASDAQ-100
ProFund VP Semiconductor
ProFund VP Small-Cap Growth
ProFund VP Short Mid-Cap
ProFund VP Short NASDAQ-100
ProFund VP Short Small-Cap
ProFund VP Small-Cap Value
ProFund VP Technology
ProFund VP Communication Services (formerly ProFund VP Telecommunications)
ProFund VP UltraMid-Cap
ProFund VP UltraNASDAQ-100
ProFund VP UltraSmall-Cap
ProFund VP Utilities
ProFund VP Large-Cap Growth
ProFund VP Large-Cap Value
Rydex VT Nova Fund
Rydex VT NASDAQ-100® Fund
Rydex VT Inverse S&P 500® Strategy Fund
Invesco V.I. Health Care Fund (Series I)
Invesco V.I. Technology Fund (Series I)
Allspring VT Index Asset Allocation Fund (Class 2)
Allspring VT International Equity Fund (Class 2)
Allspring VT Small Cap Growth Fund (Class 2)
AST Prudential Growth Allocation Portfolio
AST Advanced Strategies Portfolio
AST Investment Grade Bond Portfolio
AST Cohen & Steers Global Realty Portfolio*
AST Emerging Markets Equity Portfolio

A74

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Note 1:    General (continued)

Allspring VT Discovery All Cap Growth Fund (Class 2) (formerly Allspring VT Omega Growth Fund (Class 2))
Allspring VT Discovery All Cap Growth Fund (Class 1) (formerly Allspring VT Omega Growth Fund (Class 1))
Allspring VT Small Cap Growth Fund (Class 1)
Allspring VT International Equity Fund (Class 1)
AST Bond Portfolio 2022**
AST Quantitative Modeling Portfolio
AST BlackRock Global Strategies Portfolio*
Invesco V.I. Diversified Dividend Fund (Series I)
Columbia Variable Portfolio - U.S. Government Mortgage Fund (Class 1)
Columbia Variable Portfolio - Large Cap Growth Fund (Class 1)
Allspring VT Opportunity Fund (Class 1)
Allspring VT Opportunity Fund (Class 2)
AST Bond Portfolio 2023
AST MFS Growth Allocation Portfolio*
AST Western Asset Emerging Markets Debt Portfolio*
AST Bond Portfolio 2024
AST ClearBridge Dividend Growth Portfolio
Columbia Variable Portfolio - Government Money Market Fund (Class 1)
Columbia Variable Portfolio - Income Opportunities Fund (Class 1)
AST Large-Cap Core Portfolio
AST Bond Portfolio 2025
AST Bond Portfolio 2026
AST Bond Portfolio 2027
NVIT Emerging Markets Fund (Class D)
AST Bond Portfolio 2028
AST Bond Portfolio 2029
AST Bond Portfolio 2030
AST Bond Portfolio 2031
MFS® International Growth Portfolio (Service Class)
MFS® Total Return Bond Series (Service Class)
MFS® Total Return Series (Service Class)
MFS® Value Series (Service Class)
PSF PGIM Government Money Market Portfolio (Class III)
Invesco V.I. Discovery Mid Cap Growth Fund (Series I)
AST Global Bond Portfolio
AST Bond Portfolio 2032
AST Bond Portfolio 2033
AST Bond Portfolio 2034

*			Subaccount merged during the period ended December 31, 2023.
**			Subaccount liquidated during the period ended December 31, 2023.

The following table sets forth the dates at which mergers took place in the Account. The transfers from the removed subaccounts to the surviving subaccounts for the period ended December 31, 2023 are reflected in the Statements of Changes in Net Assets as net transfers between subaccounts and purchases and sales in Note 5.

Merger Date

Removed Portfolio

Surviving Portfolio

January 20, 2023

AST Cohen & Steers Global Realty Portfolio

AST Cohen & Steers Realty Portfolio

January 20, 2023

AST BlackRock Global Strategies Portfolio

AST J.P. Morgan Tactical Preservation Portfolio

February 24, 2023

AST MFS Growth Allocation Portfolio

AST Capital Growth Asset Allocation Portfolio

February 24, 2023

AST Wellington Management Hedged Equity Portfolio

AST Prudential Growth Allocation Portfolio

March 10, 2023

AST International Value Portfolio

AST International Equity Portfolio

March 10, 2023

AST J.P. Morgan International Equity Portfolio

AST International Equity Portfolio

March 10, 2023

PSF International Growth Portfolio (Class I)

AST International Equity Portfolio

March 10, 2023

AST Western Asset Emerging Markets Debt Portfolio

AST Global Bond Portfolio

A75

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Note 1:    General (continued)

New sales of certain products which invest in the Account have been discontinued. However, premium payments made by contract owners will continue to be received by the Account, subject to the rules of the products and any optional benefits, if elected.

The Portfolios are open-end management investment companies. Each subaccount of the Account indirectly bears exposure to risks which may be interrelated and include, but are not limited to, the market, credit and liquidity risks of the portfolio in which it invests. These financial statements should be read in conjunction with the financial statements and footnotes of the Portfolios. Additional information on these Portfolios is available upon request to the appropriate companies.

Note 2:    Significant Accounting Policies

The Account is an investment company and, accordingly, follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services-Investment Companies, which is part of the generally accepted accounting principles in the United States of America (“GAAP”). The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures at the date of the financial statements and the reported amounts of increases and decreases in net assets resulting from operations during the reporting period. Actual results could differ from those estimates. The most significant estimates relate to the valuation of investments in the Portfolios. Subsequent events have been evaluated through the date these financial statements were issued, and no adjustment or disclosure is required in the financial statements.

Investments - The investments in shares of the Portfolios are stated at the reported net asset value per share of the respective Portfolios, which is based on the fair value of the underlying securities in the respective Portfolios. All changes in fair value are recorded as net change in unrealized appreciation (depreciation) on investments in the Statements of Operations of the applicable subaccounts.

Security Transactions - Purchase and sale transactions are recorded as of the trade date of the security being purchased or sold. Realized gains and losses on security transactions are determined based upon the first in, first out method.

Dividend Income and Distributions Received - Dividend and capital gain distributions received are reinvested in additional shares of the Portfolios and are recorded on the ex-distribution date.

Contracts in payout (annuitization) period - Net assets allocated to contracts in the payout period are computed according to the industry standard mortality tables. The assumed investment return varies by product version; 4 percent for Stabilized, 3 percent for Guaranteed, and from 3 percent to 7 percent as elected by the annuitant for Traditional. Rates above 5 percent may be restricted in certain states. The mortality risk is fully borne by FLIAC and may result in additional amounts being transferred into the Account by FLIAC to cover greater longevity of annuitants than expected. A receivable is established for amounts due but not yet received. The amounts are included in “Contract owner net payments” on the Statements of Changes in Net Assets.

Note 3:    Fair Value Measurements

Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative fair value guidance establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in measuring fair value. The level in the fair value hierarchy within which the fair value measurement falls is determined based on the lowest level input that is significant to the fair value measurement. The levels of the fair value hierarchy are as follows:

Level 1 - Fair value is based on unadjusted quoted prices in active markets for identical assets or liabilities that the Account can access.

Level 2 - Fair value is based on significant inputs, other than Level 1 inputs, that are observable for the investment, either directly or indirectly, for substantially the full term of the investment through corroboration with observable market data. Level 2 inputs include the reported net asset value per

A76

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Note 3:    Fair Value Measurements (continued)

share of the underlying portfolio, quoted market prices in active markets for similar investments, quoted market prices in markets that are not active for identical or similar investments, and other market observable inputs.

Level 3 - Fair value is based on at least one significant unobservable input for the investment, which may require significant judgment or estimation in determining the fair value.

As of December 31, 2023, management determined that the fair value inputs for all of the Account’s investments, which consist solely of investments in open-end mutual funds registered with the SEC, were considered Level 2.

Note 4:    Taxes

FLIAC is taxed as a “life insurance company” as defined by the Internal Revenue Code. The results of operations of the Account form a part of FLIAC’s consolidated federal tax return. No federal, state or local income taxes are payable by the Account. As such, no provision for tax liability has been recorded in these financial statements. FLIAC management will review periodically the status of the policy in the event of changes in the tax law.

Note 5:    Purchases and Sales of Investments

The aggregate costs of purchases and proceeds from sales, excluding distributions received and reinvested, of investments in the Portfolios for the period ended December 31, 2023 were as follows:

			Purchases						Sales
AST Large-Cap Growth Portfolio			$	117,684,369					$	329,202,523
AST Government Money Market Portfolio			288,347,469						362,339,827
AST Cohen & Steers Realty Portfolio			37,759,115						28,040,907
AST J.P. Morgan Tactical Preservation Portfolio			308,911,113						297,794,021
AST High Yield Portfolio			38,630,381						48,015,376
AST Small-Cap Value Portfolio			36,894,630						59,025,570
AST Mid-Cap Growth Portfolio			43,422,653						66,436,104
AST Large-Cap Value Portfolio			83,905,791						164,682,790
AST Mid-Cap Value Portfolio			36,594,295						56,731,996
AST Small-Cap Growth Portfolio			39,934,493						55,355,441
AST T. Rowe Price Natural Resources Portfolio			28,974,477						34,022,229
AST T. Rowe Price Asset Allocation Portfolio			325,938,835						517,309,745
AST International Value Portfolio			2,569,448						81,414,432
AST MFS Global Equity Portfolio			23,520,024						32,213,743
AST J.P. Morgan International Equity Portfolio			4,499,567						107,015,669
AST International Equity Portfolio			221,203,390						83,389,752
AST Wellington Management Hedged Equity Portfolio			7,745,404						215,766,758
AST Capital Growth Asset Allocation Portfolio			316,725,782						538,587,916
AST Academic Strategies Asset Allocation Portfolio			237,306,801						317,227,109
AST Balanced Asset Allocation Portfolio			231,778,440						432,401,405
AST Preservation Asset Allocation Portfolio			217,978,247						313,131,684
AST J.P. Morgan Global Thematic Portfolio			87,419,086						111,517,320
AST Core Fixed Income Portfolio			302,461,289						343,179,688
Davis Value Portfolio			6,069						63,134
Columbia Variable Portfolio - Small Company Growth Fund (Class 1)			107						13,145
PSF International Growth Portfolio (Class I)			81,048						2,798,480
ProFund VP Asia 30			2,093,774						2,690,825
ProFund VP Banks			4,499,306						4,206,710
ProFund VP Bear			8,127,310						8,513,719
ProFund VP Biotechnology			1,619,583						1,963,610

A77

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Note 5:    Purchases and Sales of Investments (continued)

			Purchases						Sales
ProFund VP Materials			$	1,149,061					$	2,000,090
ProFund VP UltraBull			8,360,737						9,849,535
ProFund VP Bull			29,014,164						32,920,044
ProFund VP Consumer Discretionary			5,545,338						3,735,931
ProFund VP Consumer Staples			2,733,608						3,261,325
ProFund VP Energy			9,788,398						13,626,631
ProFund VP Europe 30			2,006,106						2,830,693
ProFund VP Financials			2,232,287						3,877,025
ProFund VP U.S. Government Plus			13,588,606						12,706,674
ProFund VP Health Care			4,316,900						7,944,660
ProFund Access VP High Yield Fund			445,852						737,885
ProFund VP Industrials			2,990,815						3,784,798
ProFund VP Internet			2,505,192						2,444,994
ProFund VP Japan			2,111,666						2,332,686
ProFund VP Precious Metals			24,361,097						24,465,127
ProFund VP Mid-Cap Growth			9,245,408						9,781,517
ProFund VP Mid-Cap Value			7,666,259						9,676,643
ProFund VP Pharmaceuticals			911,440						1,361,012
ProFund VP Real Estate			1,884,739						1,901,622
ProFund VP Rising Rates Opportunity			8,037,867						10,498,354
ProFund VP NASDAQ-100			28,652,050						27,985,332
ProFund VP Semiconductor			8,277,714						6,414,181
ProFund VP Small-Cap Growth			4,357,550						4,358,360
ProFund VP Short Mid-Cap			1,814,626						1,852,791
ProFund VP Short NASDAQ-100			9,097,755						9,833,473
ProFund VP Short Small-Cap			2,959,892						2,963,504
ProFund VP Small-Cap Value			3,656,172						4,495,615
ProFund VP Technology			6,719,674						7,160,638
ProFund VP Communication Services			2,897,478						2,214,106
ProFund VP UltraMid-Cap			4,897,104						4,339,927
ProFund VP UltraNASDAQ-100			24,158,463						13,187,067
ProFund VP UltraSmall-Cap			5,271,481						4,856,435
ProFund VP Utilities			3,200,437						7,809,817
ProFund VP Large-Cap Growth			9,942,410						8,366,357
ProFund VP Large-Cap Value			5,078,612						6,639,891
Rydex VT Nova Fund			27,039						99,180
Rydex VT NASDAQ-100® Fund			21,292						856,193
Rydex VT Inverse S&P 500® Strategy Fund			456						6,088
Invesco V.I. Health Care Fund (Series I)			628,891						3,225,863
Invesco V.I. Technology Fund (Series I)			314,107						2,470,181
Allspring VT Index Asset Allocation Fund (Class 2)			34,754						1,381,568
Allspring VT International Equity Fund (Class 2)			5,170						11,720
Allspring VT Small Cap Growth Fund (Class 2)			6,964						158,529
AST Prudential Growth Allocation Portfolio			916,871,371						844,596,499
AST Advanced Strategies Portfolio			116,347,300						224,945,883
AST Investment Grade Bond Portfolio			2,788,313,013						3,865,739,676
AST Cohen & Steers Global Realty Portfolio			886,414						17,891,487
AST Emerging Markets Equity Portfolio			25,663,315						29,289,359
Allspring VT Discovery All Cap Growth Fund (Class 2)			49,981						194,667
Allspring VT Discovery All Cap Growth Fund (Class 1)			881,114						2,020,447
Allspring VT Small Cap Growth Fund (Class 1)			726,919						1,524,944
Allspring VT International Equity Fund (Class 1)			828,210						1,042,967
AST Bond Portfolio 2022			—						78,243
AST Quantitative Modeling Portfolio			1,258,560						8,212,015

A78

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Note 5:    Purchases and Sales of Investments (continued)

			Purchases						Sales
AST BlackRock Global Strategies Portfolio			$	2,576,580					$	59,565,174
Invesco V.I. Diversified Dividend Fund (Series I)			1,552,172						2,686,871
Columbia Variable Portfolio - U.S. Government Mortgage Fund (Class 1)			131						18,056
Columbia Variable Portfolio - Large Cap Growth Fund (Class 1)			240,572						799,435
Allspring VT Opportunity Fund (Class 1)			136,043						491,547
Allspring VT Opportunity Fund (Class 2)			43,395						568,305
AST Bond Portfolio 2023			5,222,147						76,379,879
AST MFS Growth Allocation Portfolio			4,532,490						132,243,302
AST Western Asset Emerging Markets Debt Portfolio			19,470						2,131,705
AST Bond Portfolio 2024			56,845,280						22,071,146
AST ClearBridge Dividend Growth Portfolio			18,646,000						19,077,321
Columbia Variable Portfolio - Government Money Market Fund (Class 1)			143,663						460,318
Columbia Variable Portfolio - Income Opportunities Fund (Class 1)			49						14,766
AST Large-Cap Core Portfolio			22,118,094						29,294,051
AST Bond Portfolio 2025			2,307,491						3,988,865
AST Bond Portfolio 2026			4,386,964						8,218,590
AST Bond Portfolio 2027			6,669,250						12,126,551
NVIT Emerging Markets Fund (Class D)			3,286,802						2,926,512
AST Bond Portfolio 2028			529,101						15,758,507
AST Bond Portfolio 2029			619,317						2,162,297
AST Bond Portfolio 2030			5,885,051						6,634,123
AST Bond Portfolio 2031			2,831,631						9,331,728
MFS® International Growth Portfolio (Service Class)			67,203						511,049
MFS® Total Return Bond Series (Service Class)			673,815						2,845,869
MFS® Total Return Series (Service Class)			161,917						239,045
MFS® Value Series (Service Class)			724,649						1,308,733
PSF PGIM Government Money Market Portfolio (Class III)			27,857,697						28,413,061
Invesco V.I. Discovery Mid Cap Growth Fund (Series I)			221,235						1,725,992
AST Global Bond Portfolio			23,850,119						20,925,661
AST Bond Portfolio 2032			2,071,547						20,010,099
AST Bond Portfolio 2033			1,421,708						1,740,295
AST Bond Portfolio 2034			136,424						114,282

Note 6:    Related Party Transactions

The Account has extensive transactions and relationships with Prudential Financial and its affiliates, which prior to April 1, 2022 were affiliated to the Account and PALAC. After the sale to FGH on April 1, 2022, Prudential Financial is no longer affiliated to the Account and FLIAC. Due to former affiliated relationships, it is possible that the terms of these transactions are not the same as those that would result from transactions among wholly unrelated parties. Prudential Financial and its affiliates perform various services on behalf of the portfolios of The Prudential Series Fund and the Advanced Series Trust in which the Account invests and may receive fees for the services performed. These services include, among other things, investment management, subadvisory, shareholder communications, postage, transfer agency and various other record keeping, administrative and customer service functions.

The Prudential Series Fund has entered into a management agreement with PGIM Investments LLC ("PGIM Investments"), and the Advanced Series Trust has entered into a management agreement with PGIM Investments and AST Investment Services, Inc., both indirect, wholly-owned subsidiaries of Prudential Financial (together, the “Investment Managers”). Pursuant to these agreements, the Investment Managers have responsibility for all investment advisory services and supervise the subadvisers’ performance of such services with respect to each portfolio of The Prudential Series Fund and the Advanced Series Trust. The Investment Managers have entered into subadvisory agreements with several subadvisers, including PGIM, Inc., PGIM Limited, Jennison Associates LLC, and PGIM

A79

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Note 6:    Related Party Transactions (continued)

Quantitative Solutions LLC, each of which are indirect, wholly-owned subsidiaries of Prudential Financial.

The Prudential Series Fund has a distribution agreement with Prudential Investment Management Services LLC (“PIMS”), an indirect, wholly-owned subsidiary of Prudential Financial, which acts as the distributor of the Class I and Class II shares of the portfolios of The Prudential Series Fund. No distribution or service (12b-1) fees are paid to PIMS as distributor of the Class I shares of the portfolios of The Prudential Series Fund, which is the class of shares owned by the Account.

The Advanced Series Trust has a distribution agreement with Prudential Annuities Distributors, Inc. (“PAD”), an indirect, wholly-owned subsidiary of Prudential Financial, which acts as the distributor of the shares of each portfolio of the Advanced Series Trust. Distribution and service fees are paid to PAD by most portfolios of the Advanced Series Trust.

Prudential Mutual Fund Services LLC, an affiliate of the Investment Managers and an indirect, wholly-owned subsidiary of Prudential Financial, serves as the transfer agent of each portfolio of The Prudential Series Fund and the Advanced Series Trust.

The Account indirectly bears the expenses of the underlying portfolios of The Prudential Series Fund and the Advanced Series Trust in which it invests, including the related party expenses disclosed above.

Note 7:    Financial Highlights

FLIAC sells a number of variable annuity products that are funded through the Account. These products have unique combinations of features and fees that are charged against the contract owner’s account balance. Differences in the fee structures result in a variety of unit values, expense ratios and total returns.

In the table below, the units, the net assets, the investment income ratio, and the ranges of lowest to highest unit values, expense ratios, and total returns are presented for the products offered by FLIAC and funded through the Account. Only product designs within each subaccount that had units outstanding during the respective periods were considered when determining the ranges. The summary may not reflect the minimum and maximum contract charges as contract owners may not have selected all available contract options offered by FLIAC.

A80

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Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			AST Large-Cap Growth Portfolio
December 31, 2023			20,427						$	31.56		to			$	97.90					$	1,419,703					0.00		%				0.65		%	to			3.05		%				39.27		%	to			42.70		%
December 31, 2022			23,871						$	22.48		to			$	68.61					$	1,162,023					0.00		%				0.65		%	to			3.05		%				-35.24		%	to			-33.64		%
December 31, 2021			8,933						$	34.43		to			$	103.39					$	666,219					0.00		%				0.65		%	to			3.05		%				13.54		%	to			16.35		%
December 31, 2020			10,280						$	30.07		to			$	88.86					$	661,552					0.00		%				0.65		%	to			3.05		%				35.54		%	to			38.90		%
December 31, 2019			13,441						$	22.01		to			$	63.97					$	606,032					0.00		%				0.65		%	to			3.05		%				24.32		%	to			27.40		%
			AST Government Money Market Portfolio
December 31, 2023			39,949						$	7.50		to			$	15.53					$	462,648					4.52		%				0.65		%	to			2.75		%				1.75		%	to			3.94		%
December 31, 2022			45,383						$	6.87		to			$	14.94					$	514,774					1.24		%				0.65		%	to			3.05		%				-1.85		%	to			0.57		%
December 31, 2021			39,976						$	7.00		to			$	14.86					$	453,953					0.00		%	(1)			0.65		%	to			3.05		%				-3.05		%	to			-0.65		%
December 31, 2020			42,691						$	7.23		to			$	14.95					$	490,379					0.20		%				0.65		%	to			3.05		%				-2.83		%	to			-0.43		%
December 31, 2019			39,170						$	7.44		to			$	15.02					$	454,830					1.68		%				0.65		%	to			3.05		%				-1.41		%	to			1.03		%
			AST Cohen & Steers Realty Portfolio
December 31, 2023			1,541						$	24.47		to			$	71.39					$	92,965					0.00		%				0.65		%	to			3.05		%				8.67		%	to			11.36		%
December 31, 2022			1,372						$	22.45		to			$	64.11					$	74,354					0.00		%				0.65		%	to			2.75		%				-27.41		%	to			-25.85		%
December 31, 2021			1,819						$	30.93		to			$	86.46					$	132,648					0.00		%				0.65		%	to			2.75		%				38.92		%	to			41.92		%
December 31, 2020			2,139						$	22.26		to			$	60.92					$	110,379					0.00		%				0.65		%	to			2.75		%				-5.51		%	to			-3.47		%
December 31, 2019			2,450						$	23.56		to			$	63.11					$	129,946					0.00		%				0.65		%	to			2.75		%				27.61		%	to			30.36		%
			AST J.P. Morgan Tactical Preservation Portfolio
December 31, 2023			27,196						$	12.62		to			$	40.78					$	693,578					0.00		%				0.65		%	to			3.05		%				7.00		%	to			9.64		%
December 31, 2022			26,684						$	11.77		to			$	37.19					$	623,092					0.00		%				0.65		%	to			3.05		%				-18.29		%	to			-16.27		%
December 31, 2021			40,802						$	14.38		to			$	44.42					$	1,142,547					0.00		%				0.65		%	to			3.05		%				4.66		%	to			7.25		%
December 31, 2020			26,192						$	13.71		to			$	41.42					$	680,844					0.00		%				0.65		%	to			3.05		%				7.96		%	to			10.63		%
December 31, 2019			29,386						$	12.67		to			$	37.44					$	686,631					0.00		%				0.65		%	to			3.05		%				11.11		%	to			13.86		%
			AST High Yield Portfolio
December 31, 2023			3,154						$	14.28		to			$	37.85					$	91,908					0.00		%				0.65		%	to			2.75		%				7.52		%	to			9.84		%
December 31, 2022			3,491						$	13.28		to			$	34.46					$	92,827					0.00		%				0.65		%	to			2.75		%				-13.94		%	to			-12.09		%
December 31, 2021			4,604						$	15.43		to			$	39.20					$	138,421					0.00		%				0.65		%	to			2.75		%				3.41		%	to			5.64		%
December 31, 2020			5,073						$	14.92		to			$	37.10					$	145,034					0.00		%				0.65		%	to			3.05		%				-0.49		%	to			1.97		%
December 31, 2019			5,969						$	14.95		to			$	36.39					$	166,925					0.00		%				0.65		%	to			3.05		%				11.78		%	to			14.55		%
			AST Small-Cap Value Portfolio
December 31, 2023			5,106						$	22.96		to			$	69.52					$	262,235					0.00		%				0.65		%	to			3.05		%				10.29		%	to			13.01		%
December 31, 2022			5,519						$	20.75		to			$	61.52					$	252,150					0.00		%				0.65		%	to			3.05		%				-15.96		%	to			-13.89		%
December 31, 2021			4,078						$	24.62		to			$	71.43					$	210,261					0.00		%				0.65		%	to			3.05		%				27.51		%	to			30.67		%
December 31, 2020			5,019						$	19.25		to			$	54.67					$	198,436					0.00		%				0.65		%	to			3.05		%				-2.21		%	to			0.21		%
December 31, 2019			5,273						$	19.62		to			$	54.56					$	209,773					0.00		%				0.65		%	to			3.05		%				18.26		%	to			21.19		%
			AST Mid-Cap Growth Portfolio
December 31, 2023			15,215						$	13.27		to			$	60.38					$	311,684					0.00		%				0.65		%	to			3.05		%				18.23		%	to			21.15		%
December 31, 2022			16,393						$	11.13		to			$	49.97					$	276,989					0.00		%				0.65		%	to			3.05		%				-33.04		%	to			-31.38		%
December 31, 2021			19,046						$	16.49		to			$	73.00					$	480,306					0.00		%				0.65		%	to			3.05		%				7.12		%	to			9.77		%
December 31, 2020			21,709						$	15.27		to			$	66.67					$	503,597					0.00		%				0.65		%	to			3.05		%				30.73		%	to			33.96		%
December 31, 2019			25,435						$	11.58		to			$	49.89					$	455,112					0.00		%				0.65		%	to			3.05		%				26.19		%	to			29.31		%

A81

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Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			AST Large-Cap Value Portfolio
December 31, 2023			18,580						$	21.71		to			$	75.12					$	764,191					0.00		%				0.65		%	to			3.05		%				6.41		%	to			9.04		%
December 31, 2022			20,469						$	20.34		to			$	68.89					$	776,641					0.00		%				0.65		%	to			3.05		%				-1.39		%	to			1.04		%
December 31, 2021			6,928						$	20.57		to			$	68.18					$	261,525					0.00		%				0.65		%	to			2.75		%				25.66		%	to			28.37		%
December 31, 2020			8,090						$	16.37		to			$	53.11					$	240,505					0.00		%				0.65		%	to			3.05		%				-2.79		%	to			-0.38		%
December 31, 2019			8,593						$	16.78		to			$	53.31					$	257,162					0.00		%				0.65		%	to			3.05		%				25.57		%	to			28.68		%
			AST Mid-Cap Value Portfolio
December 31, 2023			3,771						$	24.13		to			$	107.35					$	261,345					0.00		%				0.65		%	to			3.05		%				8.67		%	to			11.35		%
December 31, 2022			4,008						$	22.14		to			$	96.40					$	253,109					0.00		%				0.65		%	to			3.05		%				-10.58		%	to			-8.37		%
December 31, 2021			5,386						$	24.68		to			$	105.21					$	362,532					0.00		%				0.65		%	to			3.05		%				29.56		%	to			32.76		%
December 31, 2020			5,293						$	18.99		to			$	79.25					$	271,242					0.00		%				0.65		%	to			3.05		%				-4.78		%	to			-2.42		%
December 31, 2019			5,810						$	19.89		to			$	81.21					$	302,162					0.00		%				0.65		%	to			3.05		%				17.32		%	to			20.23		%
			AST Small-Cap Growth Portfolio
December 31, 2023			4,840						$	28.68		to			$	79.42					$	257,185					0.00		%				0.65		%	to			3.05		%				13.54		%	to			16.34		%
December 31, 2022			5,086						$	25.12		to			$	68.27					$	234,225					0.00		%				0.65		%	to			3.05		%				-29.78		%	to			-28.04		%
December 31, 2021			2,862						$	35.57		to			$	94.88					$	181,218					0.00		%				0.65		%	to			2.75		%				1.66		%	to			3.86		%
December 31, 2020			3,188						$	34.90		to			$	91.35					$	195,652					0.00		%				0.65		%	to			3.05		%				43.87		%	to			47.42		%
December 31, 2019			3,946						$	24.12		to			$	61.97					$	159,837					0.00		%				0.65		%	to			3.05		%				26.15		%	to			29.27		%
			AST T. Rowe Price Natural Resources Portfolio
December 31, 2023			1,587						$	13.53		to			$	74.64					$	73,314					0.00		%				0.65		%	to			2.75		%				-1.43		%	to			0.69		%
December 31, 2022			1,663						$	13.72		to			$	74.13					$	77,349					0.00		%				0.65		%	to			2.75		%				3.18		%	to			5.40		%
December 31, 2021			2,928						$	13.30		to			$	70.33					$	121,127					0.00		%				0.65		%	to			2.75		%				20.40		%	to			22.99		%
December 31, 2020			3,430						$	11.05		to			$	57.18					$	115,483					0.00		%				0.65		%	to			3.05		%				-5.21		%	to			-2.86		%
December 31, 2019			3,451						$	11.62		to			$	58.86					$	115,905					0.00		%				0.65		%	to			3.05		%				13.30		%	to			16.11		%
			AST T. Rowe Price Asset Allocation Portfolio
December 31, 2023			59,164						$	17.59		to			$	66.11					$	2,239,747					0.00		%				0.65		%	to			3.05		%				13.31		%	to			16.11		%
December 31, 2022			64,240						$	15.49		to			$	56.94					$	2,101,550					0.00		%				0.65		%	to			3.05		%				-18.90		%	to			-16.89		%
December 31, 2021			83,497						$	19.07		to			$	68.51					$	3,269,883					0.00		%				0.65		%	to			3.05		%				8.98		%	to			11.68		%
December 31, 2020			65,855						$	17.46		to			$	61.34					$	2,342,097					0.00		%				0.65		%	to			3.05		%				9.10		%	to			11.80		%
December 31, 2019			74,975						$	15.97		to			$	54.87					$	2,326,847					0.00		%				0.65		%	to			3.05		%				17.16		%	to			20.06		%
			AST International Value Portfolio (merged March 10, 2023)
December 31, 2023			—						$	8.99		to			$	26.94					$	—					0.00		%				0.65		%	to			3.05		%				6.48		%	to			6.98		%
December 31, 2022			4,222						$	8.43		to			$	25.20					$	73,552					0.00		%				0.65		%	to			3.05		%				-12.84		%	to			-10.69		%
December 31, 2021			5,219						$	9.60		to			$	28.28					$	103,998					0.00		%				0.65		%	to			3.05		%				4.36		%	to			6.94		%
December 31, 2020			5,607						$	9.12		to			$	26.51					$	104,580					0.00		%				0.65		%	to			3.05		%				-3.64		%	to			-1.25		%
December 31, 2019			5,672						$	9.39		to			$	26.92					$	109,332					0.00		%				0.65		%	to			3.05		%				16.36		%	to			19.24		%
			AST MFS Global Equity Portfolio
December 31, 2023			3,086						$	25.13		to			$	52.91					$	129,280					0.00		%				0.65		%	to			2.75		%				10.89		%	to			13.28		%
December 31, 2022			3,281						$	22.66		to			$	46.83					$	121,930					0.00		%				0.65		%	to			2.75		%				-20.21		%	to			-18.49		%
December 31, 2021			4,396						$	28.41		to			$	57.59					$	200,725					0.00		%				0.65		%	to			2.75		%				13.64		%	to			16.09		%
December 31, 2020			5,093						$	25.00		to			$	49.74					$	201,229					0.00		%				0.65		%	to			3.05		%				10.70		%	to			13.44		%
December 31, 2019			5,958						$	22.51		to			$	43.96					$	207,483					0.00		%				0.65		%	to			3.05		%				25.99		%	to			29.11		%
			AST J.P. Morgan International Equity Portfolio (merged March 10, 2023)
December 31, 2023			—						$	11.16		to			$	48.25					$	—					0.00		%				0.65		%	to			2.75		%				3.88		%	to			4.30		%
December 31, 2022			3,493						$	10.74		to			$	46.33					$	98,092					0.00		%				0.65		%	to			2.75		%				-22.52		%	to			-20.85		%
December 31, 2021			4,637						$	13.79		to			$	58.98					$	160,942					0.00		%				0.65		%	to			2.75		%				8.02		%	to			10.35		%
December 31, 2020			5,123						$	12.70		to			$	53.86					$	162,362					0.00		%				0.65		%	to			3.05		%				9.63		%	to			12.34		%
December 31, 2019			5,791						$	11.49		to			$	48.30					$	160,499					0.00		%				0.65		%	to			3.05		%				23.34		%	to			26.40		%
			AST International Equity Portfolio
December 31, 2023			11,668						$	16.92		to			$	42.86					$	405,075					0.00		%				0.65		%	to			3.05		%				14.17		%	to			16.99		%
December 31, 2022			7,179						$	14.77		to			$	36.63					$	211,437					0.00		%				0.65		%	to			3.05		%				-30.86		%	to			-29.15		%
December 31, 2021			7,976						$	21.30		to			$	51.70					$	335,133					0.00		%				0.65		%	to			3.05		%				9.07		%	to			11.77		%
December 31, 2020			8,999						$	19.47		to			$	46.26					$	341,079					0.00		%				0.65		%	to			3.05		%				27.32		%	to			30.47		%
December 31, 2019			10,913						$	15.24		to			$	35.46					$	317,475					0.00		%				0.65		%	to			3.05		%				28.08		%	to			31.25		%

A82

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			AST Wellington Management Hedged Equity Portfolio (merged February 24, 2023)
December 31, 2023			—						$	13.91		to			$	26.77					$	—					0.00		%				0.65		%	to			3.05		%				0.36		%	to			0.74		%
December 31, 2022			11,502						$	13.21		to			$	26.59					$	206,274					0.00		%				0.65		%	to			3.05		%				-10.50		%	to			-8.28		%
December 31, 2021			14,489						$	14.73		to			$	29.11					$	287,382					0.00		%				0.65		%	to			3.05		%				8.64		%	to			11.33		%
December 31, 2020			16,037						$	13.53		to			$	26.25					$	288,081					0.00		%				0.65		%	to			3.05		%				3.41		%	to			5.97		%
December 31, 2019			18,448						$	13.06		to			$	24.88					$	312,256					0.00		%				0.65		%	to			3.05		%				16.88		%	to			19.77		%
			AST Capital Growth Asset Allocation Portfolio
December 31, 2023			132,345						$	17.99		to			$	33.37					$	3,301,240					0.00		%				0.65		%	to			3.05		%				14.50		%	to			17.33		%
December 31, 2022			140,206						$	15.68		to			$	28.56					$	2,999,888					0.00		%				0.65		%	to			3.05		%				-19.43		%	to			-17.44		%
December 31, 2021			167,294						$	19.42		to			$	34.73					$	4,367,171					0.00		%				0.65		%	to			3.05		%				13.41		%	to			16.22		%
December 31, 2020			185,227						$	17.09		to			$	30.01					$	4,190,715					0.00		%				0.65		%	to			3.05		%				9.96		%	to			12.68		%
December 31, 2019			207,220						$	15.51		to			$	26.74					$	4,167,401					0.00		%				0.65		%	to			3.05		%				18.52		%	to			21.45		%
			AST Academic Strategies Asset Allocation Portfolio
December 31, 2023			54,708						$	11.41		to			$	20.53					$	854,987					0.00		%				0.65		%	to			3.05		%				6.86		%	to			9.50		%
December 31, 2022			59,781						$	10.66		to			$	18.82					$	855,752					0.00		%				0.65		%	to			3.05		%				-16.08		%	to			-14.01		%
December 31, 2021			87,954						$	12.67		to			$	21.97					$	1,488,909					0.00		%				0.65		%	to			3.05		%				9.01		%	to			11.71		%
December 31, 2020			97,686						$	11.60		to			$	19.75					$	1,489,398					0.00		%				0.65		%	to			3.05		%				1.04		%	to			3.54		%
December 31, 2019			107,878						$	11.46		to			$	19.15					$	1,589,555					0.00		%				0.65		%	to			3.05		%				12.52		%	to			15.30		%
			AST Balanced Asset Allocation Portfolio
December 31, 2023			91,293						$	16.05		to			$	27.86					$	2,065,664					0.00		%				0.65		%	to			3.05		%				12.25		%	to			15.01		%
December 31, 2022			100,027						$	14.27		to			$	24.32					$	1,977,790					0.00		%				0.65		%	to			3.05		%				-18.81		%	to			-16.80		%
December 31, 2021			98,657						$	17.53		to			$	29.36					$	2,349,635					0.00		%				0.65		%	to			3.05		%				9.40		%	to			12.11		%
December 31, 2020			109,846						$	15.99		to			$	26.29					$	2,347,786					0.00		%				0.65		%	to			3.05		%				8.36		%	to			11.04		%
December 31, 2019			123,491						$	14.73		to			$	23.77					$	2,377,595					0.00		%				0.65		%	to			3.05		%				15.78		%	to			18.64		%
			AST Preservation Asset Allocation Portfolio
December 31, 2023			46,769						$	12.98		to			$	20.46					$	838,110					0.00		%				0.65		%	to			3.05		%				8.38		%	to			11.05		%
December 31, 2022			52,058						$	11.96		to			$	18.42					$	844,494					0.00		%				0.65		%	to			3.05		%				-18.19		%	to			-16.17		%
December 31, 2021			72,797						$	14.58		to			$	22.05					$	1,424,281					0.00		%				0.65		%	to			3.05		%				3.00		%	to			5.55		%
December 31, 2020			82,395						$	14.13		to			$	20.97					$	1,538,226					0.00		%				0.65		%	to			3.05		%				5.76		%	to			8.37		%
December 31, 2019			89,864						$	13.33		to			$	19.43					$	1,549,414					0.00		%				0.65		%	to			3.05		%				11.24		%	to			13.99		%
			AST J.P. Morgan Global Thematic Portfolio
December 31, 2023			19,350						$	14.73		to			$	27.40					$	375,647					0.00		%				0.65		%	to			2.75		%				10.76		%	to			13.14		%
December 31, 2022			20,610						$	13.30		to			$	24.32					$	355,140					0.00		%				0.65		%	to			2.75		%				-19.26		%	to			-17.52		%
December 31, 2021			27,020						$	16.47		to			$	29.60					$	567,184					0.00		%				0.65		%	to			2.75		%				9.32		%	to			11.68		%
December 31, 2020			29,412						$	15.06		to			$	26.61					$	556,139					0.00		%				0.65		%	to			3.05		%				9.71		%	to			12.42		%
December 31, 2019			33,093						$	13.69		to			$	23.77					$	554,197					0.00		%				0.65		%	to			3.05		%				15.79		%	to			18.65		%
			AST Core Fixed Income Portfolio
December 31, 2023			98,671						$	10.27		to			$	14.49					$	1,290,864					0.00		%				0.65		%	to			3.05		%				3.12		%	to			5.66		%
December 31, 2022			101,389						$	9.93		to			$	13.71					$	1,260,482					0.00		%				0.65		%	to			3.05		%				-18.84		%	to			-16.83		%
December 31, 2021			42,949						$	12.20		to			$	16.49					$	648,118					0.00		%				0.65		%	to			3.05		%				-5.22		%	to			-2.87		%
December 31, 2020			42,790						$	12.83		to			$	16.98					$	668,453					0.00		%				0.65		%	to			3.05		%				4.81		%	to			7.41		%
December 31, 2019			45,586						$	12.20		to			$	15.81					$	662,452					0.00		%				0.65		%	to			3.05		%				8.88		%	to			11.57		%
			Davis Value Portfolio
December 31, 2023			28						$	30.74		to			$	40.45					$	874					1.36		%				1.40		%	to			1.65		%				30.45		%	to			30.78		%
December 31, 2022			30						$	23.50		to			$	31.01					$	708					1.19		%				1.40		%	to			1.65		%				-21.45		%	to			-21.25		%
December 31, 2021			35						$	29.85		to			$	39.48					$	1,048					0.59		%				1.40		%	to			1.65		%				15.91		%	to			16.20		%
December 31, 2020			36						$	25.68		to			$	34.06					$	943					0.72		%				1.40		%	to			1.65		%				9.88		%	to			10.16		%
December 31, 2019			40						$	23.32		to			$	31.00					$	947					1.62		%				1.40		%	to			1.65		%				29.00		%	to			29.33		%
			Columbia Variable Portfolio - Small Company Growth Fund (Class 1)
December 31, 2023			6						$	68.63		to			$	68.63					$	383					0.00		%				1.00		%	to			1.00		%				25.37		%	to			25.37		%
December 31, 2022			6						$	54.74		to			$	54.74					$	313					0.00		%				1.00		%	to			1.00		%				-36.41		%	to			-36.41		%
December 31, 2021			6						$	86.09		to			$	86.09					$	552					0.00		%				1.00		%	to			1.00		%				-3.87		%	to			-3.87		%
December 31, 2020			7						$	89.56		to			$	89.56					$	645					0.00		%				1.00		%	to			1.00		%				69.42		%	to			69.42		%
December 31, 2019			9						$	52.86		to			$	52.86					$	488					0.00		%				1.00		%	to			1.00		%				39.29		%	to			39.29		%

A83

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			PSF International Growth Portfolio (Class I) (merged March 10, 2023)
December 31, 2023			—						$	15.68		to			$	24.62					$	—					0.00		%				0.65		%	to			2.75		%				3.86		%	to			4.29		%
December 31, 2022			124						$	15.10		to			$	24.45					$	2,601					0.00		%				0.65		%	to			2.75		%				-30.89		%	to			-29.40		%
December 31, 2021			139						$	21.84		to			$	36.75					$	4,148					0.00		%				0.65		%	to			2.75		%				9.39		%	to			11.75		%
December 31, 2020			172						$	19.97		to			$	33.02					$	4,636					0.00		%				0.65		%	to			2.75		%				28.48		%	to			31.25		%
December 31, 2019			224						$	15.54		to			$	25.26					$	4,635					0.00		%				0.65		%	to			2.75		%				28.74		%	to			31.52		%
			ProFund VP Asia 30
December 31, 2023			167						$	11.64		to			$	29.46					$	3,631					0.11		%				0.65		%	to			2.50		%				1.71		%	to			3.64		%
December 31, 2022			194						$	11.44		to			$	28.50					$	4,067					0.49		%				0.65		%	to			2.50		%				-26.31		%	to			-24.92		%
December 31, 2021			196						$	15.52		to			$	38.05					$	5,589					0.00		%				0.65		%	to			2.50		%				-20.56		%	to			-19.05		%
December 31, 2020			236						$	19.53		to			$	47.12					$	8,409					1.08		%				0.65		%	to			2.50		%				32.16		%	to			34.67		%
December 31, 2019			285						$	14.77		to			$	35.08					$	7,613					0.23		%				0.65		%	to			2.50		%				23.15		%	to			25.48		%
			ProFund VP Banks
December 31, 2023			278						$	7.72		to			$	23.80					$	3,049					1.38		%				0.65		%	to			2.50		%				7.64		%	to			9.67		%
December 31, 2022			251						$	7.18		to			$	22.01					$	2,537					0.82		%				0.65		%	to			2.50		%				-21.88		%	to			-20.40		%
December 31, 2021			363						$	9.19		to			$	28.04					$	4,479					0.87		%				0.65		%	to			2.50		%				30.74		%	to			33.22		%
December 31, 2020			301						$	7.03		to			$	11.38					$	2,781					2.21		%				0.65		%	to			2.50		%				-17.34		%	to			-15.77		%
December 31, 2019			435						$	8.50		to			$	13.55					$	4,787					1.00		%				0.65		%	to			2.50		%				33.02		%	to			35.54		%
			ProFund VP Bear
December 31, 2023			1,385						$	0.48		to			$	0.91					$	1,060					0.23		%				0.65		%	to			2.50		%				-17.37		%	to			-15.82		%
December 31, 2022			1,981						$	0.58		to			$	1.08					$	1,684					0.00		%				0.65		%	to			2.50		%				14.20		%	to			16.35		%
December 31, 2021			1,506						$	0.50		to			$	0.93					$	1,183					0.00		%				0.65		%	to			2.45		%				-26.48		%	to			-25.12		%
December 31, 2020			1,343						$	0.68		to			$	1.24					$	1,379					0.50		%				0.65		%	to			2.45		%				-27.44		%	to			-26.10		%
December 31, 2019			1,794						$	0.94		to			$	1.67					$	2,483					0.08		%				0.65		%	to			2.45		%				-24.84		%	to			-23.45		%
			ProFund VP Biotechnology
December 31, 2023			139						$	38.13		to			$	81.23					$	5,924					0.00		%				0.65		%	to			1.90		%				8.06		%	to			9.43		%
December 31, 2022			149						$	35.11		to			$	74.41					$	5,790					0.00		%				0.65		%	to			1.90		%				-9.46		%	to			-8.31		%
December 31, 2021			172						$	38.58		to			$	81.36					$	7,371					0.00		%				0.65		%	to			1.90		%				13.54		%	to			14.98		%
December 31, 2020			207						$	33.81		to			$	70.94					$	7,723					0.02		%				0.65		%	to			1.90		%				13.18		%	to			14.63		%
December 31, 2019			235						$	29.72		to			$	62.04					$	7,708					0.00		%				0.65		%	to			1.65		%				14.54		%	to			15.70		%
			ProFund VP Materials
December 31, 2023			137						$	18.01		to			$	39.09					$	4,223					0.46		%				0.65		%	to			2.65		%				9.41		%	to			11.65		%
December 31, 2022			166						$	16.46		to			$	35.10					$	4,584					0.19		%				0.65		%	to			2.65		%				-11.54		%	to			-9.73		%
December 31, 2021			169						$	18.61		to			$	38.98					$	5,247					0.31		%				0.65		%	to			2.65		%				22.30		%	to			24.81		%
December 31, 2020			191						$	15.21		to			$	31.31					$	4,775					0.66		%				0.65		%	to			2.65		%				13.40		%	to			15.73		%
December 31, 2019			220						$	13.42		to			$	27.12					$	4,824					0.35		%				0.65		%	to			2.65		%				14.60		%	to			16.95		%
			ProFund VP UltraBull
December 31, 2023			138						$	43.06		to			$	97.94					$	6,629					0.00		%				0.65		%	to			1.65		%				42.85		%	to			44.29		%
December 31, 2022			173						$	30.07		to			$	68.05					$	5,844					0.00		%				0.65		%	to			1.65		%				-40.12		%	to			-39.52		%
December 31, 2021			204						$	50.09		to			$	112.79					$	11,515					0.00		%				0.65		%	to			1.90		%				55.14		%	to			57.11		%
December 31, 2020			241						$	32.12		to			$	71.97					$	8,708					0.82		%				0.65		%	to			1.90		%				17.55		%	to			19.05		%
December 31, 2019			299						$	27.19		to			$	60.60					$	9,039					0.27		%				0.65		%	to			1.90		%				57.13		%	to			59.13		%
			ProFund VP Bull
December 31, 2023			393						$	29.11		to			$	43.99					$	13,517					0.00		%				0.65		%	to			2.40		%				20.78		%	to			22.94		%
December 31, 2022			516						$	24.07		to			$	35.87					$	14,436					0.00		%				0.65		%	to			2.40		%				-21.66		%	to			-20.26		%
December 31, 2021			520						$	30.67		to			$	45.10					$	18,550					0.00		%				0.65		%	to			2.40		%				23.30		%	to			25.51		%
December 31, 2020			563						$	24.84		to			$	36.02					$	16,209					0.08		%				0.65		%	to			2.45		%				13.19		%	to			15.28		%
December 31, 2019			734						$	21.01		to			$	31.33					$	18,447					0.23		%				0.65		%	to			2.50		%				25.66		%	to			28.04		%
			ProFund VP Consumer Discretionary
December 31, 2023			228						$	28.08		to			$	51.31					$	7,582					0.00		%				0.65		%	to			2.65		%				28.57		%	to			31.20		%
December 31, 2022			166						$	21.84		to			$	36.27					$	4,296					0.00		%				0.65		%	to			2.65		%				-33.34		%	to			-31.98		%
December 31, 2021			272						$	32.77		to			$	58.43					$	10,419					0.00		%				0.65		%	to			2.65		%				7.31		%	to			9.51		%
December 31, 2020			301						$	30.53		to			$	53.79					$	10,600					0.00		%				0.65		%	to			2.65		%				24.95		%	to			27.51		%
December 31, 2019			350						$	24.44		to			$	42.53					$	9,798					0.00		%				0.65		%	to			2.65		%				21.34		%	to			23.83		%

A84

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			ProFund VP Consumer Staples
December 31, 2023			211						$	20.62		to			$	36.93					$	5,929					0.21		%				0.65		%	to			2.75		%				1.07		%	to			3.25		%
December 31, 2022			226						$	20.40		to			$	35.85					$	6,239					0.05		%				0.65		%	to			2.75		%				-26.76		%	to			-25.19		%
December 31, 2021			325						$	27.85		to			$	48.04					$	12,044					0.41		%				0.65		%	to			2.75		%				16.36		%	to			18.87		%
December 31, 2020			359						$	23.94		to			$	40.52					$	11,312					0.82		%				0.65		%	to			2.75		%				27.45		%	to			30.20		%
December 31, 2019			315						$	18.78		to			$	31.20					$	7,739					1.46		%				0.65		%	to			2.75		%				23.08		%	to			25.74		%
			ProFund VP Energy
December 31, 2023			377						$	14.23		to			$	34.25					$	9,474					2.29		%				0.65		%	to			2.50		%				-4.93		%	to			-3.13		%
December 31, 2022			522						$	14.96		to			$	35.45					$	13,679					1.33		%				0.65		%	to			2.50		%				55.46		%	to			58.40		%
December 31, 2021			521						$	9.62		to			$	22.44					$	8,803					1.92		%				0.65		%	to			2.50		%				48.14		%	to			50.94		%
December 31, 2020			474						$	6.49		to			$	14.90					$	5,380					2.51		%				0.65		%	to			2.45		%				-36.07		%	to			-34.89		%
December 31, 2019			455						$	10.15		to			$	22.94					$	7,962					1.38		%				0.65		%	to			2.50		%				5.80		%	to			7.81		%
			ProFund VP Europe 30
December 31, 2023			306						$	11.58		to			$	23.70					$	4,760					2.18		%				0.65		%	to			2.25		%				14.83		%	to			16.71		%
December 31, 2022			363						$	9.98		to			$	20.36					$	4,838					1.19		%				0.65		%	to			2.40		%				-9.97		%	to			-8.36		%
December 31, 2021			495						$	10.96		to			$	22.27					$	7,200					0.91		%				0.65		%	to			2.40		%				21.54		%	to			23.72		%
December 31, 2020			562						$	8.91		to			$	18.05					$	6,657					2.80		%				0.65		%	to			2.50		%				-11.50		%	to			-9.82		%
December 31, 2019			660						$	9.94		to			$	20.06					$	8,786					2.49		%				0.65		%	to			2.50		%				14.84		%	to			17.02		%
			ProFund VP Financials
December 31, 2023			464						$	11.86		to			$	36.27					$	8,228					0.46		%				0.65		%	to			2.75		%				10.76		%	to			13.15		%
December 31, 2022			569						$	10.71		to			$	32.32					$	8,877					0.09		%				0.65		%	to			2.75		%				-17.47		%	to			-15.69		%
December 31, 2021			741						$	12.97		to			$	38.64					$	14,051					0.38		%				0.65		%	to			2.75		%				26.53		%	to			29.26		%
December 31, 2020			774						$	10.25		to			$	30.14					$	11,401					0.69		%				0.65		%	to			2.75		%				-4.47		%	to			-2.41		%
December 31, 2019			967						$	10.73		to			$	31.13					$	14,659					0.51		%				0.65		%	to			2.75		%				26.69		%	to			29.42		%
			ProFund VP U.S. Government Plus
December 31, 2023			242						$	8.84		to			$	16.40					$	3,362					3.90		%				0.65		%	to			2.25		%				-2.20		%	to			-0.61		%
December 31, 2022			190						$	9.02		to			$	16.50					$	2,697					0.00		%				0.65		%	to			2.25		%				-43.01		%	to			-42.08		%
December 31, 2021			221						$	15.79		to			$	28.48					$	5,393					0.00		%				0.65		%	to			2.50		%				-9.41		%	to			-7.69		%
December 31, 2020			283						$	16.54		to			$	30.85					$	7,411					0.04		%				0.65		%	to			2.50		%				17.67		%	to			19.91		%
December 31, 2019			320						$	14.05		to			$	25.73					$	7,072					0.84		%				0.65		%	to			2.50		%				15.27		%	to			17.45		%
			ProFund VP Health Care
December 31, 2023			526						$	31.56		to			$	48.16					$	18,416					0.00		%				0.65		%	to			2.50		%				-1.69		%	to			0.17		%
December 31, 2022			620						$	31.75		to			$	48.47					$	21,999					0.00		%				0.65		%	to			2.50		%				-8.37		%	to			-6.63		%
December 31, 2021			785						$	33.65		to			$	52.33					$	29,954					0.04		%				0.65		%	to			2.65		%				18.32		%	to			20.75		%
December 31, 2020			915						$	28.44		to			$	43.69					$	29,206					0.00		%				0.65		%	to			2.65		%				11.40		%	to			13.69		%
December 31, 2019			985						$	25.34		to			$	38.74					$	27,838					0.00		%				0.65		%	to			2.65		%				16.21		%	to			18.60		%
			ProFund Access VP High Yield Fund
December 31, 2023			98						$	20.12		to			$	24.31					$	2,152					5.20		%				0.65		%	to			1.65		%				8.61		%	to			9.71		%
December 31, 2022			111						$	18.53		to			$	22.15					$	2,229					3.00		%				0.65		%	to			1.65		%				-9.48		%	to			-8.56		%
December 31, 2021			158						$	20.47		to			$	24.23					$	3,463					2.36		%				0.65		%	to			1.65		%				-1.38		%	to			-0.38		%
December 31, 2020			212						$	20.76		to			$	24.32					$	4,682					5.45		%				0.65		%	to			1.65		%				-1.71		%	to			-0.71		%
December 31, 2019			378						$	21.12		to			$	24.50					$	8,455					4.65		%				0.65		%	to			1.65		%				10.58		%	to			11.70		%
			ProFund VP Industrials
December 31, 2023			166						$	32.06		to			$	50.22					$	6,075					0.00		%				0.65		%	to			2.45		%				13.46		%	to			15.54		%
December 31, 2022			190						$	28.20		to			$	43.57					$	6,023					0.00		%				0.65		%	to			2.45		%				-17.67		%	to			-16.15		%
December 31, 2021			271						$	34.18		to			$	52.10					$	10,210					0.00		%				0.65		%	to			2.45		%				13.55		%	to			15.65		%
December 31, 2020			259						$	30.04		to			$	45.16					$	8,487					0.18		%				0.65		%	to			2.45		%				13.90		%	to			16.00		%
December 31, 2019			303						$	26.32		to			$	39.03					$	8,638					0.00		%				0.65		%	to			2.45		%				27.30		%	to			29.65		%
			ProFund VP Internet
December 31, 2023			52						$	97.14		to			$	127.13					$	5,569					0.00		%				0.65		%	to			1.65		%				47.39		%	to			48.88		%
December 31, 2022			50						$	65.91		to			$	85.60					$	3,651					0.00		%				0.65		%	to			1.65		%				-47.02		%	to			-46.48		%
December 31, 2021			62						$	124.40		to			$	160.35					$	8,382					0.00		%				0.65		%	to			1.65		%				3.56		%	to			4.62		%
December 31, 2020			68						$	120.12		to			$	153.66					$	8,931					0.00		%				0.65		%	to			1.65		%				48.34		%	to			49.84		%
December 31, 2019			72						$	80.98		to			$	102.81					$	6,305					0.00		%				0.65		%	to			1.65		%				16.08		%	to			17.26		%

A85

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			ProFund VP Japan
December 31, 2023			188						$	17.30		to			$	29.70					$	3,695					0.00		%				0.65		%	to			2.45		%				31.23		%	to			33.64		%
December 31, 2022			198						$	13.16		to			$	22.28					$	2,908					0.00		%				0.65		%	to			2.45		%				-12.13		%	to			-10.51		%
December 31, 2021			251						$	14.94		to			$	24.96					$	4,162					0.00		%				0.65		%	to			2.45		%				1.35		%	to			3.22		%
December 31, 2020			294						$	14.08		to			$	24.24					$	4,840					0.29		%				0.65		%	to			2.50		%				13.04		%	to			15.18		%
December 31, 2019			337						$	12.46		to			$	21.10					$	4,864					0.13		%				0.65		%	to			2.50		%				17.00		%	to			19.22		%
			ProFund VP Precious Metals
December 31, 2023			1,092						$	5.94		to			$	11.24					$	10,184					0.00		%				0.65		%	to			2.50		%				-1.05		%	to			0.82		%
December 31, 2022			1,115						$	6.00		to			$	11.18					$	10,307					0.00		%				0.65		%	to			2.50		%				-13.24		%	to			-11.60		%
December 31, 2021			1,227						$	6.91		to			$	12.68					$	12,797					0.00		%				0.65		%	to			2.50		%				-11.21		%	to			-9.53		%
December 31, 2020			1,436						$	7.78		to			$	14.05					$	16,625					0.24		%				0.65		%	to			2.50		%				21.00		%	to			23.30		%
December 31, 2019			1,565						$	6.42		to			$	11.42					$	14,858					0.04		%				0.65		%	to			2.50		%				42.33		%	to			45.03		%
			ProFund VP Mid-Cap Growth
December 31, 2023			328						$	28.42		to			$	47.90					$	11,363					0.00		%				0.65		%	to			2.50		%				12.68		%	to			14.81		%
December 31, 2022			344						$	25.22		to			$	41.82					$	10,429					0.00		%				0.65		%	to			2.50		%				-22.33		%	to			-20.86		%
December 31, 2021			470						$	32.47		to			$	52.98					$	18,327					0.00		%				0.65		%	to			2.50		%				14.04		%	to			16.21		%
December 31, 2020			482						$	28.47		to			$	45.71					$	16,375					0.00		%				0.65		%	to			2.50		%				17.88		%	to			20.11		%
December 31, 2019			686						$	24.15		to			$	38.15					$	19,404					0.00		%				0.65		%	to			2.50		%				21.14		%	to			23.43		%
			ProFund VP Mid-Cap Value
December 31, 2023			265						$	28.19		to			$	49.17					$	9,311					0.29		%				0.65		%	to			2.50		%				10.62		%	to			12.72		%
December 31, 2022			328						$	25.48		to			$	43.73					$	10,225					0.14		%				0.65		%	to			2.50		%				-10.74		%	to			-9.05		%
December 31, 2021			387						$	28.55		to			$	48.20					$	13,478					0.28		%				0.65		%	to			2.50		%				25.32		%	to			27.70		%
December 31, 2020			389						$	22.78		to			$	37.84					$	10,696					0.42		%				0.65		%	to			2.50		%				-0.26		%	to			1.63		%
December 31, 2019			563						$	22.84		to			$	37.33					$	15,177					0.19		%				0.65		%	to			2.50		%				20.98		%	to			23.28		%
			ProFund VP Pharmaceuticals
December 31, 2023			78						$	16.23		to			$	26.47					$	1,436					0.53		%				0.65		%	to			2.50		%				-7.85		%	to			-6.11		%
December 31, 2022			102						$	17.46		to			$	28.59					$	2,019					0.08		%				0.65		%	to			2.50		%				-8.47		%	to			-6.74		%
December 31, 2021			120						$	18.91		to			$	31.10					$	2,571					0.27		%				0.65		%	to			2.45		%				8.48		%	to			10.48		%
December 31, 2020			134						$	17.30		to			$	28.55					$	2,584					0.11		%				0.65		%	to			2.45		%				9.76		%	to			11.78		%
December 31, 2019			156						$	15.63		to			$	25.90					$	2,723					0.80		%				0.65		%	to			2.45		%				11.25		%	to			13.30		%
			ProFund VP Real Estate
December 31, 2023			147						$	14.73		to			$	36.91					$	4,548					1.17		%				0.65		%	to			2.75		%				6.72		%	to			9.02		%
December 31, 2022			146						$	13.80		to			$	33.85					$	4,165					0.71		%				0.65		%	to			2.75		%				-28.58		%	to			-27.03		%
December 31, 2021			195						$	19.32		to			$	46.40					$	7,641					0.03		%				0.65		%	to			2.75		%				33.31		%	to			36.19		%
December 31, 2020			214						$	14.50		to			$	34.07					$	6,124					1.58		%				0.65		%	to			2.75		%				-8.87		%	to			-6.90		%
December 31, 2019			273						$	15.91		to			$	36.59					$	8,492					1.66		%				0.65		%	to			2.75		%				23.27		%	to			25.93		%
			ProFund VP Rising Rates Opportunity
December 31, 2023			1,276						$	1.26		to			$	2.54					$	1,826					0.17		%				0.65		%	to			2.65		%				-0.93		%	to			1.08		%
December 31, 2022			3,154						$	1.26		to			$	2.55					$	4,339					0.00		%				0.65		%	to			2.65		%				54.29		%	to			57.44		%
December 31, 2021			2,141						$	0.81		to			$	1.64					$	1,875					0.00		%				0.65		%	to			2.65		%				-2.72		%	to			-0.72		%
December 31, 2020			1,191						$	0.82		to			$	1.68					$	1,079					0.82		%				0.65		%	to			2.65		%				-28.65		%	to			-27.17		%
December 31, 2019			1,391						$	1.14		to			$	2.33					$	1,758					0.15		%				0.65		%	to			2.65		%				-19.60		%	to			-17.95		%
			ProFund VP NASDAQ-100
December 31, 2023			540						$	35.56		to			$	106.19					$	25,325					0.00		%				0.65		%	to			2.50		%				48.39		%	to			51.19		%
December 31, 2022			524						$	23.70		to			$	70.41					$	16,113					0.00		%				0.65		%	to			2.50		%				-35.56		%	to			-34.34		%
December 31, 2021			731						$	36.36		to			$	107.51					$	34,899					0.00		%				0.65		%	to			2.50		%				21.69		%	to			23.99		%
December 31, 2020			910						$	29.55		to			$	86.92					$	35,256					0.00		%				0.65		%	to			2.50		%				41.93		%	to			44.62		%
December 31, 2019			819						$	20.59		to			$	60.26					$	21,894					0.00		%				0.65		%	to			2.50		%				33.29		%	to			35.81		%
			ProFund VP Semiconductor
December 31, 2023			156						$	50.76		to			$	100.06					$	8,549					0.00		%				0.65		%	to			1.65		%				90.49		%	to			92.41		%
December 31, 2022			101						$	26.65		to			$	52.13					$	2,914					0.00		%				0.65		%	to			1.65		%				-38.53		%	to			-37.91		%
December 31, 2021			147						$	43.35		to			$	84.18					$	7,132					0.00		%				0.65		%	to			1.65		%				46.04		%	to			47.52		%
December 31, 2020			126						$	29.68		to			$	57.20					$	4,109					0.33		%				0.65		%	to			1.65		%				42.46		%	to			43.91		%
December 31, 2019			145						$	20.84		to			$	24.92					$	3,315					0.28		%				0.65		%	to			1.65		%				47.30		%	to			48.80		%

A86

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			ProFund VP Small-Cap Growth
December 31, 2023			261						$	24.01		to			$	53.60					$	10,132					0.00		%				0.65		%	to			2.75		%				12.04		%	to			14.45		%
December 31, 2022			256						$	21.43		to			$	46.96					$	8,779					0.00		%				0.65		%	to			2.75		%				-24.54		%	to			-22.92		%
December 31, 2021			370						$	28.40		to			$	61.07					$	16,536					0.00		%				0.65		%	to			2.75		%				17.32		%	to			19.86		%
December 31, 2020			399						$	24.20		to			$	51.08					$	15,016					0.00		%				0.65		%	to			2.75		%				14.16		%	to			16.63		%
December 31, 2019			414						$	21.20		to			$	43.91					$	13,550					0.00		%				0.65		%	to			2.75		%				15.84		%	to			18.34		%
			ProFund VP Short Mid-Cap
December 31, 2023			72						$	0.58		to			$	0.70					$	47					0.50		%				0.65		%	to			1.65		%				-10.85		%	to			-9.94		%
December 31, 2022			131						$	0.64		to			$	0.77					$	93					0.00		%				0.65		%	to			1.65		%				7.58		%	to			8.66		%
December 31, 2021			61						$	0.60		to			$	0.71					$	42					0.00		%				0.65		%	to			1.65		%				-25.33		%	to			-24.56		%
December 31, 2020			56						$	0.80		to			$	0.94					$	51					0.35		%				0.65		%	to			1.65		%				-27.86		%	to			-27.12		%
December 31, 2019			28						$	1.11		to			$	1.30					$	35					0.36		%				0.65		%	to			1.65		%				-22.47		%	to			-21.68		%
			ProFund VP Short NASDAQ-100
December 31, 2023			4,939						$	0.15		to			$	0.28					$	890					0.00		%				0.65		%	to			2.50		%				-34.08		%	to			-32.81		%
December 31, 2022			7,788						$	0.22		to			$	0.42					$	2,124					0.00		%				0.65		%	to			2.50		%				31.70		%	to			34.15		%
December 31, 2021			2,598						$	0.17		to			$	0.32					$	545					0.00		%				0.65		%	to			2.25		%				-26.82		%	to			-25.60		%
December 31, 2020			920						$	0.23		to			$	0.34					$	264					0.16		%				0.65		%	to			2.25		%				-44.06		%	to			-43.15		%
December 31, 2019			881						$	0.41		to			$	0.60					$	433					0.12		%				0.65		%	to			2.25		%				-29.67		%	to			-28.53		%
			ProFund VP Short Small-Cap
December 31, 2023			416						$	0.58		to			$	0.70					$	263					0.19		%				0.65		%	to			1.65		%				-12.35		%	to			-11.45		%
December 31, 2022			493						$	0.66		to			$	0.79					$	346					0.00		%				0.65		%	to			1.65		%				15.88		%	to			17.05		%
December 31, 2021			345						$	0.57		to			$	0.67					$	208					0.00		%				0.65		%	to			1.65		%				-20.39		%	to			-19.58		%
December 31, 2020			104						$	0.71		to			$	0.84					$	81					0.28		%				0.65		%	to			1.65		%				-33.09		%	to			-32.41		%
December 31, 2019			88						$	1.06		to			$	1.24					$	103					0.05		%				0.65		%	to			1.65		%				-22.10		%	to			-21.30		%
			ProFund VP Small-Cap Value
December 31, 2023			252						$	19.70		to			$	44.60					$	7,493					0.02		%				0.65		%	to			2.75		%				9.84		%	to			12.20		%
December 31, 2022			281						$	17.94		to			$	39.85					$	7,482					0.00		%	(1)			0.65		%	to			2.75		%				-14.82		%	to			-12.98		%
December 31, 2021			381						$	21.06		to			$	45.91					$	11,759					0.09		%				0.65		%	to			2.75		%				25.03		%	to			27.72		%
December 31, 2020			412						$	16.84		to			$	36.03					$	9,928					0.03		%				0.65		%	to			2.75		%				-1.72		%	to			0.40		%
December 31, 2019			360						$	17.14		to			$	35.98					$	8,899					0.00		%				0.65		%	to			2.75		%				19.19		%	to			21.77		%
			ProFund VP Technology
December 31, 2023			230						$	32.76		to			$	98.00					$	8,818					0.00		%				0.65		%	to			1.65		%				55.35		%	to			56.93		%
December 31, 2022			240						$	21.03		to			$	62.61					$	5,861					0.00		%				0.65		%	to			1.65		%				-36.78		%	to			-36.14		%
December 31, 2021			347						$	33.19		to			$	98.29					$	13,299					0.00		%				0.65		%	to			1.65		%				32.73		%	to			34.08		%
December 31, 2020			414						$	24.94		to			$	73.49					$	11,748					0.00		%				0.65		%	to			1.65		%				42.42		%	to			43.86		%
December 31, 2019			458						$	17.47		to			$	51.21					$	9,172					0.00		%				0.65		%	to			1.65		%				42.79		%	to			44.24		%
			ProFund VP Communication Services
December 31, 2023			275						$	8.47		to			$	22.14					$	3,300					0.98		%				0.65		%	to			2.75		%				28.21		%	to			30.96		%
December 31, 2022			207						$	6.52		to			$	16.65					$	1,924					1.91		%				0.65		%	to			2.75		%				-23.38		%	to			-21.73		%
December 31, 2021			307						$	8.39		to			$	21.32					$	3,770					1.11		%				0.65		%	to			2.75		%				15.16		%	to			17.64		%
December 31, 2020			333						$	7.18		to			$	18.17					$	3,519					0.95		%				0.65		%	to			2.75		%				0.31		%	to			2.48		%
December 31, 2019			337						$	7.06		to			$	17.77					$	3,497					3.09		%				0.65		%	to			2.75		%				11.61		%	to			14.02		%
			ProFund VP UltraMid-Cap
December 31, 2023			126						$	47.93		to			$	99.60					$	7,010					0.00		%				0.65		%	to			2.50		%				19.16		%	to			21.42		%
December 31, 2022			115						$	40.22		to			$	82.24					$	5,442					0.00		%				0.65		%	to			2.50		%				-33.86		%	to			-32.61		%
December 31, 2021			142						$	60.82		to			$	122.34					$	10,093					0.00		%				0.65		%	to			2.50		%				43.00		%	to			45.72		%
December 31, 2020			165						$	42.44		to			$	84.17					$	8,386					0.24		%				0.65		%	to			2.45		%				2.64		%	to			4.54		%
December 31, 2019			209						$	41.01		to			$	80.72					$	10,301					0.00		%				0.65		%	to			2.45		%				44.17		%	to			46.83		%
			ProFund VP UltraNASDAQ-100
December 31, 2023			1,864						$	27.32		to			$	452.88					$	64,198					0.00		%				0.65		%	to			1.65		%				111.93		%	to			114.07		%
December 31, 2022			1,332						$	12.86		to			$	212.09					$	20,529					0.00		%				0.65		%	to			1.65		%				-61.58		%	to			-61.18		%
December 31, 2021			2,195						$	33.38		to			$	547.78					$	89,893					0.00		%				0.65		%	to			1.65		%				50.00		%	to			51.52		%
December 31, 2020			2,579						$	22.20		to			$	362.44					$	73,099					0.00		%				0.65		%	to			1.65		%				83.22		%	to			85.08		%
December 31, 2019			2,456						$	12.09		to			$	196.32					$	37,197					0.00		%				0.65		%	to			1.65		%				76.70		%	to			78.50		%

A87

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			ProFund VP UltraSmall-Cap
December 31, 2023			163						$	23.67		to			$	55.29					$	4,305					0.00		%				0.65		%	to			1.65		%				20.41		%	to			21.64		%
December 31, 2022			143						$	19.61		to			$	45.57					$	3,167					0.00		%				0.65		%	to			1.65		%				-44.61		%	to			-44.05		%
December 31, 2021			186						$	35.31		to			$	81.66					$	7,316					0.00		%				0.65		%	to			1.65		%				21.27		%	to			22.50		%
December 31, 2020			193						$	29.05		to			$	66.83					$	6,274					0.13		%				0.65		%	to			1.65		%				14.47		%	to			15.63		%
December 31, 2019			225						$	25.31		to			$	57.94					$	6,302					0.00		%				0.65		%	to			1.65		%				44.90		%	to			46.37		%
			ProFund VP Utilities
December 31, 2023			391						$	18.75		to			$	42.56					$	10,225					1.32		%				0.65		%	to			2.75		%				-11.10		%	to			-9.18		%
December 31, 2022			558						$	21.09		to			$	46.98					$	16,102					1.03		%				0.65		%	to			2.75		%				-2.99		%	to			-0.90		%
December 31, 2021			545						$	21.74		to			$	47.52					$	15,808					1.50		%				0.65		%	to			2.75		%				12.24		%	to			14.66		%
December 31, 2020			658						$	19.37		to			$	41.55					$	16,954					1.57		%				0.65		%	to			2.75		%				-5.08		%	to			-3.03		%
December 31, 2019			768						$	20.41		to			$	42.96					$	20,591					1.55		%				0.65		%	to			2.75		%				19.50		%	to			22.08		%
			ProFund VP Large-Cap Growth
December 31, 2023			400						$	31.91		to			$	55.52					$	16,042					0.00		%				0.65		%	to			2.50		%				24.68		%	to			27.04		%
December 31, 2022			351						$	25.59		to			$	43.88					$	11,187					0.00		%				0.65		%	to			2.50		%				-32.37		%	to			-31.09		%
December 31, 2021			455						$	37.84		to			$	63.94					$	21,195					0.00		%				0.65		%	to			2.50		%				26.62		%	to			29.02		%
December 31, 2020			503						$	29.89		to			$	49.76					$	18,325					0.00		%				0.65		%	to			2.50		%				27.66		%	to			30.08		%
December 31, 2019			640						$	23.41		to			$	38.41					$	18,095					0.00		%				0.65		%	to			2.50		%				25.67		%	to			28.05		%
			ProFund VP Large-Cap Value
December 31, 2023			398						$	20.47		to			$	38.16					$	10,294					0.48		%				0.65		%	to			2.50		%				17.10		%	to			19.31		%
December 31, 2022			465						$	17.48		to			$	32.25					$	10,117					0.48		%				0.65		%	to			2.50		%				-9.15		%	to			-7.43		%
December 31, 2021			438						$	19.24		to			$	32.50					$	10,424					0.99		%				0.65		%	to			2.50		%				19.85		%	to			22.13		%
December 31, 2020			537						$	16.05		to			$	26.99					$	10,559					1.14		%				0.65		%	to			2.50		%				-2.56		%	to			-0.71		%
December 31, 2019			658						$	16.48		to			$	29.43					$	13,042					0.94		%				0.65		%	to			2.50		%				26.53		%	to			28.93		%
			Rydex VT Nova Fund
December 31, 2023			46						$	30.22		to			$	33.39					$	1,383					0.00		%				1.00		%	to			1.40		%				33.19		%	to			33.73		%
December 31, 2022			48						$	22.69		to			$	24.97					$	1,090					0.41		%				1.00		%	to			1.40		%				-31.24		%	to			-30.96		%
December 31, 2021			53						$	33.00		to			$	36.17					$	1,756					0.35		%				1.00		%	to			1.40		%				40.20		%	to			40.76		%
December 31, 2020			58						$	23.54		to			$	25.70					$	1,369					0.91		%				1.00		%	to			1.40		%				18.35		%	to			18.83		%
December 31, 2019			68						$	19.89		to			$	23.26					$	1,343					1.11		%				0.65		%	to			1.40		%				43.01		%	to			44.10		%
			Rydex VT NASDAQ-100® Fund
December 31, 2023			223						$	43.75		to			$	96.87					$	9,806					0.00		%				0.65		%	to			1.65		%				50.70		%	to			52.23		%
December 31, 2022			243						$	28.96		to			$	64.28					$	7,053					0.00		%				0.65		%	to			1.65		%				-35.23		%	to			-34.57		%
December 31, 2021			271						$	44.59		to			$	99.24					$	12,096					0.00		%				0.65		%	to			1.65		%				23.47		%	to			24.73		%
December 31, 2020			317						$	36.02		to			$	80.37					$	11,444					0.29		%				0.65		%	to			1.65		%				42.57		%	to			44.02		%
December 31, 2019			362						$	25.20		to			$	56.37					$	9,143					0.13		%				0.65		%	to			1.65		%				34.60		%	to			35.97		%
			Rydex VT Inverse S&P 500® Strategy Fund
December 31, 2023			8						$	0.85		to			$	0.94					$	7					2.92		%				1.00		%	to			1.40		%				-16.14		%	to			-15.80		%
December 31, 2022			14						$	1.01		to			$	1.11					$	14					0.00		%				1.00		%	to			1.40		%				14.97		%	to			15.42		%
December 31, 2021			14						$	0.88		to			$	0.96					$	13					0.00		%				1.00		%	to			1.40		%				-25.50		%	to			-25.20		%
December 31, 2020			11						$	1.18		to			$	1.29					$	13					0.69		%				1.00		%	to			1.40		%				-26.07		%	to			-25.77		%
December 31, 2019			9						$	1.60		to			$	1.74					$	15					0.84		%				1.00		%	to			1.40		%				-23.99		%	to			-23.68		%
			Invesco V.I. Health Care Fund (Series I)
December 31, 2023			420						$	26.48		to			$	48.24					$	17,162					0.00		%				0.65		%	to			2.65		%				0.30		%	to			2.35		%
December 31, 2022			480						$	26.40		to			$	47.13					$	19,307					0.00		%				0.65		%	to			2.65		%				-15.61		%	to			-13.88		%
December 31, 2021			543						$	31.28		to			$	54.73					$	25,409					0.20		%				0.65		%	to			2.65		%				9.32		%	to			11.57		%
December 31, 2020			610						$	28.61		to			$	49.05					$	25,813					0.30		%				0.65		%	to			2.65		%				11.43		%	to			13.72		%
December 31, 2019			734						$	25.68		to			$	43.14					$	27,310					0.04		%				0.65		%	to			2.65		%				28.99		%	to			31.64		%
			Invesco V.I. Technology Fund (Series I)
December 31, 2023			810						$	14.13		to			$	63.77					$	18,043					0.00		%				0.65		%	to			1.75		%				44.38		%	to			45.99		%
December 31, 2022			912						$	9.74		to			$	43.79					$	14,015					0.00		%				0.65		%	to			1.75		%				-41.00		%	to			-40.34		%
December 31, 2021			1,010						$	16.43		to			$	73.59					$	26,487					0.00		%				0.65		%	to			1.75		%				12.41		%	to			13.67		%
December 31, 2020			1,159						$	14.54		to			$	64.90					$	27,009					0.00		%				0.65		%	to			1.75		%				43.56		%	to			45.17		%
December 31, 2019			1,292						$	10.08		to			$	27.81					$	20,903					0.00		%				0.65		%	to			1.75		%				33.50		%	to			35.00		%

A88

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			Allspring VT Index Asset Allocation Fund (Class 2)
December 31, 2023			219						$	34.49		to			$	64.60					$	14,159					0.96		%				1.40		%	to			1.65		%				14.78		%	to			15.07		%
December 31, 2022			239						$	30.05		to			$	56.14					$	13,388					0.63		%				1.40		%	to			1.65		%				-18.39		%	to			-18.18		%
December 31, 2021			268						$	36.82		to			$	68.61					$	18,374					0.58		%				1.40		%	to			1.65		%				14.08		%	to			14.37		%
December 31, 2020			295						$	32.28		to			$	59.99					$	17,652					0.82		%				1.40		%	to			1.65		%				14.67		%	to			14.96		%
December 31, 2019			323						$	28.15		to			$	52.19					$	16,818					1.08		%				1.40		%	to			1.65		%				18.17		%	to			18.47		%
			Allspring VT International Equity Fund (Class 2)
December 31, 2023			17						$	10.47		to			$	17.42					$	194					1.45		%				1.40		%	to			1.90		%				13.37		%	to			13.95		%
December 31, 2022			18						$	9.19		to			$	15.33					$	174					3.65		%				1.40		%	to			1.90		%				-13.56		%	to			-13.12		%
December 31, 2021			19						$	10.58		to			$	17.69					$	210					1.09		%				1.40		%	to			1.90		%				4.84		%	to			5.37		%
December 31, 2020			20						$	10.04		to			$	16.83					$	213					2.56		%				1.40		%	to			1.90		%				2.94		%	to			3.46		%
December 31, 2019			22						$	9.70		to			$	16.31					$	223					3.57		%				1.40		%	to			1.90		%				13.29		%	to			13.87		%
			Allspring VT Small Cap Growth Fund (Class 2)
December 31, 2023			27						$	33.91		to			$	54.79					$	911					0.00		%				1.40		%	to			1.65		%				2.39		%	to			2.65		%
December 31, 2022			31						$	33.04		to			$	53.51					$	1,027					0.00		%				1.40		%	to			1.65		%				-35.50		%	to			-35.34		%
December 31, 2021			35						$	51.09		to			$	82.96					$	1,777					0.00		%				1.40		%	to			1.65		%				5.86		%	to			6.13		%
December 31, 2020			40						$	48.14		to			$	78.37					$	1,946					0.00		%				1.40		%	to			1.65		%				55.18		%	to			55.58		%
December 31, 2019			42						$	30.94		to			$	50.50					$	1,305					0.00		%				1.40		%	to			1.65		%				22.77		%	to			23.08		%
			AST Prudential Growth Allocation Portfolio
December 31, 2023			138,759						$	14.02		to			$	28.35					$	2,684,318					0.00		%				0.65		%	to			3.05		%				14.47		%	to			17.29		%
December 31, 2022			133,485						$	12.22		to			$	24.27					$	2,210,442					0.00		%				0.65		%	to			3.05		%				-20.79		%	to			-18.83		%
December 31, 2021			193,479						$	15.40		to			$	30.02					$	3,982,816					0.00		%				0.65		%	to			3.05		%				13.14		%	to			15.94		%
December 31, 2020			214,233						$	13.58		to			$	26.00					$	3,823,995					0.00		%				0.65		%	to			3.05		%				2.63		%	to			5.17		%
December 31, 2019			242,580						$	13.21		to			$	24.82					$	4,098,141					0.00		%				0.65		%	to			3.05		%				15.54		%	to			18.40		%
			AST Advanced Strategies Portfolio
December 31, 2023			44,733						$	16.70		to			$	30.04					$	1,033,799					0.00		%				0.65		%	to			3.05		%				11.00		%	to			13.74		%
December 31, 2022			49,369						$	15.02		to			$	26.52					$	1,008,311					0.00		%				0.65		%	to			3.05		%				-19.16		%	to			-17.16		%
December 31, 2021			61,573						$	18.54		to			$	32.14					$	1,530,769					0.00		%				0.65		%	to			3.05		%				10.36		%	to			13.09		%
December 31, 2020			68,669						$	16.76		to			$	28.53					$	1,519,030					0.00		%				0.65		%	to			3.05		%				7.31		%	to			9.96		%
December 31, 2019			77,642						$	15.59		to			$	26.05					$	1,564,074					0.00		%				0.65		%	to			3.05		%				18.14		%	to			21.07		%
			AST Investment Grade Bond Portfolio
December 31, 2023			155,507						$	13.74		to			$	19.65					$	2,714,068					0.00		%				0.65		%	to			2.45		%				3.88		%	to			5.80		%
December 31, 2022			211,622						$	13.22		to			$	18.57					$	3,529,367					0.00		%				0.65		%	to			2.45		%				-15.93		%	to			-14.38		%
December 31, 2021			34,563						$	15.73		to			$	21.69					$	675,550					0.00		%				0.65		%	to			2.45		%				-4.56		%	to			-2.80		%
December 31, 2020			42,948						$	16.48		to			$	22.32					$	870,340					0.00		%				0.65		%	to			2.45		%				13.61		%	to			15.71		%
December 31, 2019			67,176						$	14.51		to			$	19.29					$	1,180,706					0.00		%				0.65		%	to			2.45		%				8.51		%	to			10.51		%
			AST Cohen & Steers Global Realty Portfolio (merged January 20, 2023)
December 31, 2023			—						$	13.17		to			$	27.32					$	—					0.00		%				0.65		%	to			3.05		%				5.92		%	to			6.07		%
December 31, 2022			1,040						$	11.98		to			$	25.76					$	16,015					0.00		%				0.65		%	to			3.05		%				-27.71		%	to			-25.92		%
December 31, 2021			1,483						$	16.38		to			$	34.91					$	31,097					0.00		%				0.65		%	to			2.65		%				23.54		%	to			26.07		%
December 31, 2020			1,727						$	13.26		to			$	27.81					$	28,856					0.00		%				0.65		%	to			2.65		%				-5.52		%	to			-3.58		%
December 31, 2019			1,862						$	14.03		to			$	28.95					$	31,937					0.00		%				0.65		%	to			2.65		%				21.81		%	to			24.31		%
			AST Emerging Markets Equity Portfolio
December 31, 2023			6,278						$	7.16		to			$	14.91					$	58,772					0.00		%				0.65		%	to			2.65		%				9.35		%	to			11.59		%
December 31, 2022			6,682						$	6.55		to			$	13.41					$	56,114					0.00		%				0.65		%	to			2.65		%				-23.79		%	to			-22.22		%
December 31, 2021			10,304						$	8.59		to			$	17.32					$	112,133					0.00		%				0.65		%	to			2.65		%				-2.46		%	to			-0.46		%
December 31, 2020			10,361						$	8.81		to			$	17.47					$	113,560					0.00		%				0.65		%	to			3.05		%				0.89		%	to			3.38		%
December 31, 2019			9,956						$	8.70		to			$	16.96					$	105,002					0.00		%				0.65		%	to			3.05		%				9.89		%	to			12.61		%
			Allspring VT Discovery All Cap Growth Fund (Class 2)
December 31, 2023			38						$	42.15		to			$	43.61					$	1,634					0.00		%				1.40		%	to			1.65		%				30.98		%	to			31.31		%
December 31, 2022			41						$	32.18		to			$	33.21					$	1,355					0.00		%				1.40		%	to			1.65		%				-38.24		%	to			-38.08		%
December 31, 2021			45						$	50.01		to			$	53.64					$	2,414					0.00		%				1.40		%	to			2.00		%				12.67		%	to			13.36		%
December 31, 2020			53						$	44.39		to			$	47.31					$	2,487					0.00		%				1.40		%	to			2.00		%				40.32		%	to			41.18		%
December 31, 2019			74						$	31.63		to			$	33.51					$	2,489					0.00		%				1.40		%	to			2.00		%				34.31		%	to			35.13		%

A89

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			Allspring VT Discovery All Cap Growth Fund (Class 1)
December 31, 2023			279						$	37.72		to			$	81.80					$	12,639					0.00		%				0.65		%	to			2.65		%				29.97		%	to			32.63		%
December 31, 2022			302						$	28.65		to			$	61.83					$	10,465					0.00		%				0.65		%	to			2.75		%				-38.78		%	to			-37.45		%
December 31, 2021			364						$	46.16		to			$	99.11					$	20,626					0.00		%				0.65		%	to			2.75		%				12.10		%	to			14.52		%
December 31, 2020			414						$	40.61		to			$	86.76					$	20,768					0.00		%				0.65		%	to			2.75		%				39.47		%	to			42.48		%
December 31, 2019			488						$	28.72		to			$	61.05					$	17,421					0.00		%				0.65		%	to			2.75		%				33.62		%	to			36.50		%
			Allspring VT Small Cap Growth Fund (Class 1)
December 31, 2023			284						$	26.54		to			$	34.19					$	8,901					0.00		%				0.65		%	to			2.50		%				1.75		%	to			3.68		%
December 31, 2022			306						$	26.09		to			$	32.97					$	9,316					0.00		%				0.65		%	to			2.50		%				-35.94		%	to			-34.73		%
December 31, 2021			344						$	40.72		to			$	50.51					$	16,148					0.00		%				0.65		%	to			2.50		%				5.23		%	to			7.23		%
December 31, 2020			420						$	38.70		to			$	47.11					$	18,548					0.00		%				0.65		%	to			2.50		%				54.15		%	to			57.07		%
December 31, 2019			451						$	25.11		to			$	29.99					$	12,734					0.00		%				0.65		%	to			2.50		%				22.18		%	to			24.50		%
			Allspring VT International Equity Fund (Class 1)
December 31, 2023			299						$	12.21		to			$	23.49					$	6,410					1.75		%				0.65		%	to			2.75		%				12.63		%	to			15.05		%
December 31, 2022			308						$	10.84		to			$	20.41					$	5,741					4.02		%				0.65		%	to			2.75		%				-13.91		%	to			-12.06		%
December 31, 2021			352						$	12.59		to			$	23.21					$	7,522					1.36		%				0.65		%	to			2.75		%				4.43		%	to			6.69		%
December 31, 2020			404						$	12.06		to			$	21.76					$	8,135					2.91		%				0.65		%	to			2.75		%				2.00		%	to			4.21		%
December 31, 2019			489						$	11.82		to			$	20.88					$	9,518					4.16		%				0.65		%	to			2.75		%				12.33		%	to			14.75		%
			AST Bond Portfolio 2022 (liquidated January 3, 2023)
December 31, 2023			—						$	11.34		to			$	12.81					$	—					0.00		%				1.25		%	to			2.25		%				0.02		%	to			0.03		%
December 31, 2022			6						$	10.27		to			$	13.20					$	78					0.00		%				1.00		%	to			3.05		%				-3.69		%	to			-1.66		%
December 31, 2021			4,590						$	10.66		to			$	13.42					$	55,275					0.00		%				1.00		%	to			3.05		%				-3.95		%	to			-1.92		%
December 31, 2020			1,397						$	11.10		to			$	13.68					$	17,609					0.00		%				1.00		%	to			3.05		%				1.80		%	to			3.96		%
December 31, 2019			1,830						$	10.90		to			$	13.16					$	22,267					0.00		%				1.00		%	to			3.05		%				2.66		%	to			4.83		%
			AST Quantitative Modeling Portfolio
December 31, 2023			1,802						$	16.35		to			$	21.42					$	36,051					0.00		%				0.65		%	to			2.75		%				14.26		%	to			16.71		%
December 31, 2022			2,149						$	14.31		to			$	18.36					$	37,161					0.00		%				0.65		%	to			2.75		%				-20.98		%	to			-19.28		%
December 31, 2021			2,579						$	18.11		to			$	22.74					$	55,720					0.00		%				0.65		%	to			2.75		%				12.27		%	to			14.69		%
December 31, 2020			3,353						$	16.13		to			$	19.83					$	63,752					0.00		%				0.65		%	to			2.75		%				8.51		%	to			10.85		%
December 31, 2019			5,311						$	14.86		to			$	17.89					$	91,510					0.00		%				0.65		%	to			2.75		%				17.87		%	to			20.42		%
			AST BlackRock Global Strategies Portfolio (merged January 20, 2023)
December 31, 2023			—						$	11.37		to			$	14.60					$	—					0.00		%				0.65		%	to			2.75		%				3.22		%	to			3.34		%
December 31, 2022			4,241						$	11.01		to			$	14.13					$	55,123					0.00		%				0.65		%	to			2.75		%				-19.25		%	to			-17.51		%
December 31, 2021			6,381						$	13.64		to			$	17.13					$	101,481					0.00		%				0.65		%	to			2.75		%				8.61		%	to			10.95		%
December 31, 2020			6,822						$	12.19		to			$	15.44					$	98,326					0.00		%				0.65		%	to			3.05		%				1.54		%	to			4.06		%
December 31, 2019			7,572						$	12.00		to			$	14.84					$	105,246					0.00		%				0.65		%	to			3.05		%				14.03		%	to			16.86		%
			Invesco V.I. Diversified Dividend Fund (Series I)
December 31, 2023			585						$	21.36		to			$	27.99					$	15,074					2.01		%				0.65		%	to			2.75		%				6.06		%	to			8.34		%
December 31, 2022			624						$	20.14		to			$	25.84					$	14,942					1.81		%				0.65		%	to			2.75		%				-4.38		%	to			-2.32		%
December 31, 2021			647						$	21.06		to			$	26.45					$	15,978					2.08		%				0.65		%	to			2.75		%				15.63		%	to			18.12		%
December 31, 2020			774						$	18.21		to			$	22.39					$	16,298					3.05		%				0.65		%	to			2.75		%				-2.61		%	to			-0.51		%
December 31, 2019			924						$	18.70		to			$	22.51					$	19,684					2.74		%				0.65		%	to			2.75		%				21.65		%	to			24.28		%
			Columbia Variable Portfolio - U.S. Government Mortgage Fund (Class 1)
December 31, 2023			13						$	10.38		to			$	10.38					$	131					2.79		%				1.00		%	to			1.00		%				4.65		%	to			4.65		%
December 31, 2022			14						$	9.92		to			$	9.92					$	142					1.98		%				1.00		%	to			1.00		%				-15.00		%	to			-15.00		%
December 31, 2021			19						$	11.67		to			$	11.67					$	223					1.98		%				1.00		%	to			1.00		%				-1.94		%	to			-1.94		%
December 31, 2020			28						$	11.90		to			$	11.90					$	328					2.62		%				1.00		%	to			1.00		%				4.04		%	to			4.04		%
December 31, 2019			28						$	11.44		to			$	11.44					$	318					2.75		%				1.00		%	to			1.00		%				5.67		%	to			5.67		%
			Columbia Variable Portfolio - Large Cap Growth Fund (Class 1)
December 31, 2023			130						$	43.76		to			$	43.76					$	5,678					0.00		%				1.00		%	to			1.00		%				41.74		%	to			41.74		%
December 31, 2022			143						$	30.88		to			$	30.88					$	4,416					0.00		%				1.00		%	to			1.00		%				-32.07		%	to			-32.07		%
December 31, 2021			159						$	45.45		to			$	45.45					$	7,204					0.00		%				1.00		%	to			1.00		%				27.45		%	to			27.45		%
December 31, 2020			172						$	35.66		to			$	35.66					$	6,127					0.00		%				1.00		%	to			1.00		%				33.39		%	to			33.39		%
December 31, 2019			195						$	26.74		to			$	26.74					$	5,211					0.00		%				1.00		%	to			1.00		%				34.54		%	to			34.54		%

A90

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			Allspring VT Opportunity Fund (Class 1)
December 31, 2023			55						$	37.58		to			$	37.58					$	2,063					0.00		%				1.40		%	to			1.40		%				25.06		%	to			25.06		%
December 31, 2022			65						$	30.05		to			$	30.05					$	1,952					0.00		%				1.40		%	to			1.40		%				-21.72		%	to			-21.72		%
December 31, 2021			72						$	38.39		to			$	38.39					$	2,777					0.24		%				1.40		%	to			1.40		%				23.31		%	to			23.31		%
December 31, 2020			83						$	30.40		to			$	31.13					$	2,588					0.70		%				1.40		%	to			1.65		%				19.32		%	to			19.63		%
December 31, 2019			95						$	25.48		to			$	26.02					$	2,467					0.56		%				1.40		%	to			1.65		%				29.64		%	to			29.96		%
			Allspring VT Opportunity Fund (Class 2)
December 31, 2023			135						$	36.44		to			$	36.44					$	4,910					0.00		%				1.40		%	to			1.40		%				24.73		%	to			24.73		%
December 31, 2022			149						$	29.21		to			$	29.21					$	4,345					0.00		%				1.40		%	to			1.40		%				-21.91		%	to			-21.91		%
December 31, 2021			162						$	37.41		to			$	37.41					$	6,053					0.04		%				1.40		%	to			1.40		%				23.03		%	to			23.03		%
December 31, 2020			173						$	30.41		to			$	30.41					$	5,255					0.44		%				1.40		%	to			1.40		%				19.31		%	to			19.31		%
December 31, 2019			184						$	25.49		to			$	25.49					$	4,682					0.28		%				1.40		%	to			1.40		%				29.63		%	to			29.63		%
			AST Bond Portfolio 2023
December 31, 2023			26						$	8.95		to			$	11.51					$	273					0.00		%				1.00		%	to			3.05		%				2.82		%	to			4.99		%
December 31, 2022			6,947						$	8.71		to			$	10.96					$	69,739					0.00		%				1.00		%	to			3.05		%				-6.63		%	to			-4.66		%
December 31, 2021			1,314						$	9.62		to			$	11.49					$	14,597					0.00		%				1.00		%	to			2.75		%				-4.41		%	to			-2.68		%
December 31, 2020			1,622						$	10.06		to			$	11.81					$	18,541					0.00		%				1.00		%	to			2.75		%				3.84		%	to			5.71		%
December 31, 2019			2,080						$	9.45		to			$	11.17					$	22,614					0.00		%				1.00		%	to			3.05		%				3.26		%	to			5.44		%
			AST MFS Growth Allocation Portfolio (merged February 24, 2023)
December 31, 2023			—						$	13.50		to			$	17.60					$	—					0.00		%				0.65		%	to			3.05		%				2.82		%	to			3.21		%
December 31, 2022			7,860						$	13.13		to			$	17.05					$	123,624					0.00		%				0.65		%	to			3.05		%				-20.38		%	to			-18.41		%
December 31, 2021			9,859						$	16.49		to			$	20.90					$	191,470					0.00		%				0.65		%	to			3.05		%				11.34		%	to			14.09		%
December 31, 2020			10,350						$	14.81		to			$	18.32					$	177,604					0.00		%				0.65		%	to			3.05		%				6.52		%	to			9.16		%
December 31, 2019			10,054						$	13.91		to			$	16.78					$	159,067					0.00		%				0.65		%	to			3.05		%				19.02		%	to			21.96		%
			AST Western Asset Emerging Markets Debt Portfolio (merged March 10, 2023)
December 31, 2023			—						$	9.21		to			$	10.36					$	—					0.00		%				0.65		%	to			1.75		%				3.62		%	to			3.84		%
December 31, 2022			206						$	8.88		to			$	9.97					$	2,043					0.00		%				0.65		%	to			1.75		%				-17.65		%	to			-16.73		%
December 31, 2021			192						$	10.79		to			$	11.98					$	2,277					0.00		%				0.65		%	to			1.75		%				-4.74		%	to			-3.68		%
December 31, 2020			292						$	11.33		to			$	12.43					$	3,549					0.00		%				0.65		%	to			1.75		%				5.57		%	to			6.75		%
December 31, 2019			302						$	10.73		to			$	11.65					$	3,450					0.00		%				0.65		%	to			1.75		%				12.84		%	to			14.10		%
			AST Bond Portfolio 2024
December 31, 2023			4,054						$	8.69		to			$	10.94					$	40,432					0.00		%				1.00		%	to			3.05		%				2.49		%	to			4.66		%
December 31, 2022			387						$	8.84		to			$	10.46					$	3,783					0.00		%				1.00		%	to			2.65		%				-9.09		%	to			-7.56		%
December 31, 2021			350						$	9.63		to			$	11.31					$	3,660					0.00		%				1.00		%	to			2.75		%				-5.05		%	to			-3.34		%
December 31, 2020			654						$	9.90		to			$	11.70					$	7,133					0.00		%				1.00		%	to			3.05		%				5.34		%	to			7.57		%
December 31, 2019			1,666						$	9.40		to			$	10.88					$	17,060					0.00		%				1.00		%	to			3.05		%				4.67		%	to			6.88		%
			AST ClearBridge Dividend Growth Portfolio
December 31, 2023			2,354						$	22.77		to			$	28.71					$	63,381					0.00		%				0.65		%	to			2.75		%				11.19		%	to			13.58		%
December 31, 2022			2,350						$	20.48		to			$	25.27					$	56,105					0.00		%				0.65		%	to			2.75		%				-10.08		%	to			-8.15		%
December 31, 2021			2,790						$	22.77		to			$	27.51					$	72,765					0.00		%				0.65		%	to			2.75		%				23.04		%	to			25.70		%
December 31, 2020			3,037						$	18.51		to			$	21.89					$	63,514					0.00		%				0.65		%	to			2.75		%				1.85		%	to			4.05		%
December 31, 2019			3,183						$	17.79		to			$	21.04					$	63,987					0.00		%				0.65		%	to			3.05		%				27.04		%	to			30.18		%
			Columbia Variable Portfolio - Government Money Market Fund (Class 1)
December 31, 2023			271						$	9.65		to			$	9.92					$	2,686					4.63		%				1.00		%	to			1.25		%				3.42		%	to			3.68		%
December 31, 2022			301						$	9.33		to			$	9.56					$	2,877					1.19		%				1.00		%	to			1.25		%				-0.06		%	to			0.20		%
December 31, 2021			296						$	9.34		to			$	9.55					$	2,830					0.01		%				1.00		%	to			1.25		%				-1.24		%	to			-0.99		%
December 31, 2020			372						$	9.45		to			$	9.64					$	3,583					0.09		%				1.00		%	to			1.25		%				-0.98		%	to			-0.73		%
December 31, 2019			77						$	9.55		to			$	9.71					$	749					1.86		%				1.00		%	to			1.25		%				0.58		%	to			0.83		%
			Columbia Variable Portfolio - Income Opportunities Fund (Class 1)
December 31, 2023			9						$	13.85		to			$	13.85					$	123					5.17		%				1.00		%	to			1.00		%				10.45		%	to			10.45		%
December 31, 2022			10						$	12.54		to			$	12.54					$	124					5.36		%				1.00		%	to			1.00		%				-10.91		%	to			-10.91		%
December 31, 2021			10						$	14.07		to			$	14.07					$	147					9.10		%				1.00		%	to			1.00		%				3.45		%	to			3.45		%
December 31, 2020			11						$	13.60		to			$	13.60					$	148					4.75		%				1.00		%	to			1.00		%				4.84		%	to			4.84		%
December 31, 2019			13						$	12.97		to			$	12.97					$	165					5.11		%				1.00		%	to			1.00		%				15.30		%	to			15.30		%

A91

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			AST Large-Cap Core Portfolio
December 31, 2023			4,607						$	23.31		to			$	29.28					$	127,099					0.00		%				0.65		%	to			2.75		%				19.73		%	to			22.30		%
December 31, 2022			4,857						$	19.47		to			$	23.94					$	110,138					0.00		%				0.65		%	to			2.75		%				-19.27		%	to			-17.53		%
December 31, 2021			6,174						$	24.12		to			$	29.03					$	170,350					0.00		%				0.65		%	to			2.75		%				24.33		%	to			27.01		%
December 31, 2020			289						$	19.86		to			$	22.86					$	6,307					0.00		%				0.65		%	to			2.45		%				8.42		%	to			10.42		%
December 31, 2019			153						$	18.07		to			$	20.70					$	3,013					0.00		%				0.65		%	to			2.65		%				21.87		%	to			24.38		%
			AST Bond Portfolio 2025
December 31, 2023			250						$	10.45		to			$	12.49					$	2,830					0.00		%				1.00		%	to			2.75		%				2.92		%	to			4.77		%
December 31, 2022			388						$	10.15		to			$	11.92					$	4,288					0.00		%				1.00		%	to			2.75		%				-11.25		%	to			-9.65		%
December 31, 2021			93						$	11.16		to			$	13.20					$	1,139					0.00		%				1.00		%	to			3.05		%				-5.82		%	to			-3.82		%
December 31, 2020			479						$	11.85		to			$	13.72					$	6,126					0.00		%				1.00		%	to			3.05		%				7.95		%	to			10.23		%
December 31, 2019			2,157						$	10.98		to			$	12.45					$	25,283					0.00		%				1.00		%	to			3.05		%				5.40		%	to			7.63		%
			AST Bond Portfolio 2026
December 31, 2023			1,901						$	8.78		to			$	10.60					$	18,838					0.00		%				1.00		%	to			3.05		%				2.71		%	to			4.88		%
December 31, 2022			2,288						$	8.55		to			$	10.10					$	21,572					0.00		%				1.00		%	to			3.05		%				-13.40		%	to			-11.58		%
December 31, 2021			2,372						$	9.87		to			$	11.43					$	25,560					0.00		%				1.00		%	to			3.05		%				-6.78		%	to			-4.80		%
December 31, 2020			3,635						$	10.59		to			$	12.00					$	41,514					0.00		%				1.00		%	to			3.05		%				7.30		%	to			9.57		%
December 31, 2019			7,987						$	9.87		to			$	10.96					$	84,521					0.00		%				1.00		%	to			3.05		%				6.67		%	to			8.93		%
			AST Bond Portfolio 2027
December 31, 2023			4,227						$	8.67		to			$	10.24					$	40,314					0.00		%				1.00		%	to			3.05		%				2.30		%	to			4.46		%
December 31, 2022			4,736						$	8.47		to			$	9.81					$	43,546					0.00		%				1.00		%	to			3.05		%				-15.36		%	to			-13.57		%
December 31, 2021			3,610						$	10.01		to			$	11.34					$	38,850					0.00		%				1.00		%	to			3.05		%				-7.50		%	to			-5.55		%
December 31, 2020			4,852						$	10.82		to			$	12.01					$	55,824					0.00		%				1.00		%	to			3.05		%				8.46		%	to			10.75		%
December 31, 2019			5,790						$	9.97		to			$	10.85					$	61,041					0.00		%				1.00		%	to			3.05		%				7.31		%	to			9.58		%
			NVIT Emerging Markets Fund (Class D)
December 31, 2023			1,413						$	9.01		to			$	10.79					$	14,501					1.41		%				0.65		%	to			3.05		%				0.65		%	to			3.13		%
December 31, 2022			1,362						$	8.95		to			$	10.47					$	13,686					0.16		%				0.65		%	to			3.05		%				-27.28		%	to			-25.48		%
December 31, 2021			1,550						$	12.51		to			$	14.04					$	21,041					0.93		%				0.65		%	to			2.75		%				-10.13		%	to			-8.19		%
December 31, 2020			1,824						$	13.92		to			$	15.30					$	27,146					1.59		%				0.65		%	to			2.75		%				9.82		%	to			12.19		%
December 31, 2019			2,230						$	12.68		to			$	13.63					$	29,747					2.05		%				0.65		%	to			2.75		%				19.21		%	to			21.79		%
			AST Bond Portfolio 2028
December 31, 2023			6,127						$	8.94		to			$	10.35					$	60,054					0.00		%				1.00		%	to			3.05		%				2.30		%	to			4.46		%
December 31, 2022			7,615						$	8.74		to			$	9.90					$	71,913					0.00		%				1.00		%	to			3.05		%				-16.67		%	to			-14.91		%
December 31, 2021			5,445						$	10.48		to			$	11.64					$	60,975					0.00		%				1.00		%	to			3.05		%				-7.37		%	to			-5.41		%
December 31, 2020			6						$	11.50		to			$	12.30					$	71					0.00		%				1.00		%	to			2.65		%				11.64		%	to			13.54		%
December 31, 2019			1,044						$	10.18		to			$	10.84					$	11,171					0.00		%				1.00		%	to			3.05		%				8.19		%	to			10.47		%
			AST Bond Portfolio 2029
December 31, 2023			350						$	9.36		to			$	10.25					$	3,349					0.00		%				1.00		%	to			2.50		%				2.99		%	to			4.57		%
December 31, 2022			503						$	9.01		to			$	9.80					$	4,666					0.00		%				1.00		%	to			2.65		%				-18.20		%	to			-16.81		%
December 31, 2021			—						$	10.82		to			$	11.79					$	—					0.00		%				1.00		%	to			3.10		%				-7.47		%	to			-5.47		%	(2)
December 31, 2020			—						$	11.71		to			$	12.47					$	—					0.00		%				1.00		%	to			3.05		%				12.75		%	to			15.13		%
December 31, 2019			2,379						$	10.38		to			$	10.83					$	25,528					0.00		%				1.00		%	to			3.05		%				8.87		%	to			11.17		%
			AST Bond Portfolio 2030 (available January 2, 2019)
December 31, 2023			4,175						$	9.39		to			$	10.42					$	42,281					0.00		%				1.00		%	to			3.05		%				2.18		%	to			4.33		%
December 31, 2022			4,160						$	9.19		to			$	9.99					$	40,749					0.00		%				1.00		%	to			3.05		%				-19.66		%	to			-17.96		%
December 31, 2021			4,328						$	11.44		to			$	12.18					$	51,992					0.00		%				1.00		%	to			3.05		%				-7.12		%	to			-5.16		%
December 31, 2020			6,897						$	12.31		to			$	12.84					$	87,755					0.00		%				1.00		%	to			3.05		%				11.02		%	to			13.37		%
December 31, 2019			1,454						$	11.13		to			$	11.33					$	16,373					0.00		%				1.00		%	to			2.75		%				11.25		%	to			13.26		%
			AST Bond Portfolio 2031 (available January 2, 2020)
December 31, 2023			3,812						$	8.16		to			$	8.87					$	32,975					0.00		%				1.00		%	to			3.05		%				2.16		%	to			4.31		%
December 31, 2022			4,522						$	7.98		to			$	8.50					$	37,723					0.00		%				1.00		%	to			3.05		%				-21.21		%	to			-19.55		%
December 31, 2021			3,392						$	10.13		to			$	10.57					$	35,400					0.00		%				1.00		%	to			3.05		%				-7.68		%	to			-5.72		%
December 31, 2020			6,403						$	10.97		to			$	11.21					$	71,411					0.00		%				1.00		%	to			3.05		%				9.77		%	to			12.08		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%

A92

---

Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			MFS® International Growth Portfolio (Service Class) (available May 18, 2020)
December 31, 2023			16						$	13.63		to			$	13.68					$	216					0.51		%				1.20		%	to			1.30		%				12.91		%	to			13.03		%
December 31, 2022			49						$	12.07		to			$	12.10					$	594					0.27		%				1.20		%	to			1.30		%				-16.28		%	to			-16.20		%
December 31, 2021			218						$	14.42		to			$	14.44					$	3,151					0.46		%				1.20		%	to			1.30		%				7.58		%	to			7.68		%
December 31, 2020			40						$	13.40		to			$	13.41					$	539					0.68		%				1.20		%	to			1.30		%				29.95		%	to			30.03		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
			MFS® Total Return Bond Series (Service Class) (available May 18, 2020)
December 31, 2023			69						$	9.34		to			$	9.34					$	649					3.09		%				1.30		%	to			1.30		%				5.74		%	to			5.74		%
December 31, 2022			316						$	8.83		to			$	8.86					$	2,792					2.11		%				1.20		%	to			1.30		%				-15.30		%	to			-15.21		%
December 31, 2021			661						$	10.43		to			$	10.45					$	6,902					3.05		%				1.20		%	to			1.30		%				-2.35		%	to			-2.25		%
December 31, 2020			179						$	10.68		to			$	10.69					$	1,912					1.99		%				1.20		%	to			1.30		%				6.90		%	to			6.96		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
			MFS® Total Return Series (Service Class) (available May 18, 2020)
December 31, 2023			60						$	13.05		to			$	13.05					$	782					1.78		%				1.30		%	to			1.30		%				8.79		%	to			8.79		%
December 31, 2022			66						$	11.99		to			$	12.03					$	787					1.14		%				1.20		%	to			1.30		%				-11.01		%	to			-10.92		%
December 31, 2021			704						$	13.48		to			$	13.50					$	9,494					1.65		%				1.20		%	to			1.30		%				12.36		%	to			12.47		%
December 31, 2020			99						$	12.00		to			$	12.00					$	1,185					1.77		%				1.20		%	to			1.30		%				17.38		%	to			17.45		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
			MFS® Value Series (Service Class) (available May 18, 2020)
December 31, 2023			186						$	15.40		to			$	15.46					$	2,872					1.28		%				1.20		%	to			1.30		%				6.24		%	to			6.35		%
December 31, 2022			226						$	14.50		to			$	14.54					$	3,277					1.05		%				1.20		%	to			1.30		%				-7.36		%	to			-7.27		%
December 31, 2021			799						$	15.65		to			$	15.68					$	12,514					1.21		%				1.20		%	to			1.30		%				23.53		%	to			23.66		%
December 31, 2020			57						$	12.67		to			$	12.68					$	727					0.78		%				1.20		%	to			1.30		%				21.73		%	to			21.80		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
			PSF PGIM Government Money Market Portfolio (Class III) (available May 18, 2020)
December 31, 2023			2,333						$	10.25		to			$	10.59					$	24,712					4.53		%				0.00		%	to			1.30		%				3.26		%	to			4.62		%
December 31, 2022			2,390						$	9.92		to			$	10.13					$	24,206					0.64		%				0.00		%	to			1.30		%				-0.10		%	to			1.22		%
December 31, 2021			11,017						$	9.93		to			$	10.00					$	110,217					0.04		%				0.00		%	to			1.30		%				-0.67		%	to			0.04		%
December 31, 2020			6,560						$	10.00		to			$	10.00					$	65,602					0.00		%	(1)			0.00		%	to			0.00		%				0.00		%	to			0.00		%	(1)
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
			Invesco V.I. Discovery Mid Cap Growth Fund (Series I) (available April 30, 2020)
December 31, 2023			648						$	12.36		to			$	13.25					$	8,383					0.00		%				0.65		%	to			2.50		%				10.33		%	to			12.42		%
December 31, 2022			764						$	11.21		to			$	11.78					$	8,854					0.00		%				0.65		%	to			2.50		%				-32.71		%	to			-31.43		%
December 31, 2021			910						$	16.65		to			$	17.18					$	15,469					0.00		%				0.65		%	to			2.50		%				16.12		%	to			18.32		%
December 31, 2020			1,095						$	14.34		to			$	14.52					$	15,832					0.00		%				0.65		%	to			2.50		%				45.78		%	to			47.62		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
			AST Global Bond Portfolio (available November 13, 2020)
December 31, 2023			8,800						$	8.50		to			$	9.09					$	78,304					0.00		%				0.65		%	to			2.75		%				3.37		%	to			5.60		%
December 31, 2022			8,383						$	8.23		to			$	8.61					$	71,094					0.00		%				0.65		%	to			2.75		%				-14.60		%	to			-12.76		%
December 31, 2021			10,543						$	9.63		to			$	9.87					$	103,217					0.00		%				0.65		%	to			2.75		%				-4.17		%	to			-2.10		%
December 31, 2020			10,803						$	10.05		to			$	10.08					$	108,803					0.00		%				0.65		%	to			2.75		%				0.53		%	to			0.81		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
			AST Bond Portfolio 2032 (available January 4, 2021)
December 31, 2023			6,649						$	7.25		to			$	7.71					$	50,604					0.00		%				1.00		%	to			3.05		%				1.96		%	to			4.11		%
December 31, 2022			8,949						$	7.11		to			$	7.41					$	65,726					0.00		%				1.00		%	to			3.05		%				-22.60		%	to			-20.97		%
December 31, 2021			5,609						$	9.18		to			$	9.38					$	52,363					0.00		%				1.00		%	to			3.05		%				-8.16		%	to			-6.24		%
December 31, 2020			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
			AST Bond Portfolio 2033 (available January 3, 2022)
December 31, 2023			30						$	7.89		to			$	8.11					$	243					0.00		%				1.25		%	to			2.65		%				1.89		%	to			3.35		%
December 31, 2022			65						$	7.74		to			$	7.85					$	505					0.00		%				1.25		%	to			2.60		%				-22.55		%	to			-21.48		%
December 31, 2021			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
December 31, 2020			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%

A93

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Note 7:    Financial Highlights (continued)

			At the year ended																								For the year ended
			Units (000s)						Unit Value Lowest — Highest												Net Assets (000s)						Investment Income Ratio*						Expense Ratio** Lowest — Highest												Total Return*** Lowest — Highest
			AST Bond Portfolio 2034 (available January 3, 2023)
December 31, 2023			3						$	10.09		to			$	10.27					$	28					0.00		%				1.00		%	to			2.75		%				0.89		%	to			2.68		%
December 31, 2022			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
December 31, 2021			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
December 31, 2020			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%
December 31, 2019			—						$	—		to			$	—					$	—					0.00		%				0.00		%	to			0.00		%				0.00		%	to			0.00		%

*			These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying Portfolios, net of management fees assessed by the fund manager, divided by the average daily net assets. These ratios exclude those expenses, such as mortality and expense risk and administration charges, that result in direct reductions in the unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying Portfolios in which the subaccount invests.
**			These amounts represent the annualized contract expenses of the Account, consisting primarily of mortality and expense risk and administration charges, for each period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Portfolios are excluded.
***			These amounts represent the total returns for the periods indicated, including changes in the value of the underlying Portfolios, and reflect deductions for all items included in the expense ratio. The total return does not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Product designs within a subaccount which were offered less than one year are included in the range of total returns for that period, and their respective total returns may not correspond to the total returns of a product offering with a comparable expense ratio that was presented for the full period. Contract owners may experience different total returns based on their investment options. Subaccounts with a date notation indicate the effective date of that subaccount in the Account. Total returns for periods less than one year are not annualized. The total return is calculated for each of the five years in the period ended December 31, 2023 or for the periods indicated within.
(1)			Amount is less than 0.01%.
(2)			Total return reflects the return had there been contract owners in the subaccount during the period.

Note 8:    Charges and Expenses

The following represents the various charges and expenses of the Account. These charges and expenses were paid to PALAC prior to April 1, 2022 and to FLIAC thereafter.

Each contract funded through the Account is subject to specific fees and charges, some of which are deducted as an asset-based charge by the Account, while others are deducted either annually or at the time that certain transactions are made.

Insurance Charge - The insurance charge is the combination of the mortality and expense risk charges and the administrative charge. The insurance charge is expressed as an annual charge; however the daily equivalent is deducted on a daily basis from the net assets of each subaccount. This charge is assessed through a reduction in unit values.

Distribution Charge - The distribution charge is deducted by the Account on certain contracts for a specified period of time. The distribution charge is intended to compensate FLIAC for a portion of the acquisition expenses under the annuity, including promotion and distribution of the annuity. The distribution charge is expressed as an annual charge; however, the daily equivalent is deducted on a daily basis from the net assets of each subaccount. This charge is assessed through a reduction in unit values.

Annual Maintenance Fee - An annual maintenance fee of up to $35 is deducted at the end of each annuity year and upon surrender of the annuity. The annual maintenance fee on certain contracts may

A94

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Note 8:    Charges and Expenses (continued)

be less than $35, may be zero or, under certain circumstances, may be waived based on the account value of the annuity on the anniversary date when the charge is deducted. This charge is assessed through the redemption of units.

Transfer Fees - Transfer fees are charged at a rate of $10 for each transfer after the 20th transfer in each annuity year, as set forth in the respective prospectuses. These charges are assessed through the redemption of units.

Contingent Deferred Sales Charges - Contingent deferred sales charges from 0% to 9% may apply to certain withdrawals from the annuities and upon surrender of the annuity. When applicable, contingent deferred sales charges will apply for a maximum number of years depending on the type of contract. The maximum number of years may be based on the number of years since each purchase payment is applied or from the issue date of the annuity. Certain annuities do not deduct a contingent deferred sales charge upon surrender or withdrawal. Refer to the prospectus for the contract for a complete description of the contingent deferred sales charge, as well as for any exceptions to the provision that may apply to certain withdrawals during each annuity year. These charges are assessed through the redemption of units.

Premium Taxes - Some states and municipalities impose premium taxes, which currently range up to 3.5% on variable immediate annuity contracts. Depending on the product, these charges are deducted before the net amount is allocated to the investment options in the Account or are assessed through the redemption of units at annuitization.

Optional Benefit Charges - Prior to November 18, 2002, PALAC offered certain optional benefits as riders to the various contracts where the annual charge to purchase the rider was deducted from the annuity on an annual basis in arrears. Charges on these benefits will continue to be deducted in the same manner. Effective as of November 18, 2002, PALAC, and now FLIAC, due to the sale, offers riders for optional benefits whose annual charge is deducted on a daily basis from the net assets of each subaccount. The daily charge for the optional benefits is deducted in the same manner as the insurance charge and the distribution charge (if applicable). These charges are assessed through a reduction in unit values.

The following are the base and maximum combined insurance, distribution (when applicable), and optional benefit charges of the respective contracts.

A95

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Note 8:    Charges and Expenses (continued)

Products			Base			Maximum
ACN			1.40		%	1.65		%
Apex			1.40		%	2.15		%
Apex II			1.65		%	3.05		%
AS Cornerstone			1.15		%	2.55		%
AS Impact			1.00		%	1.50		%
AS Protector			1.40		%	1.65		%
ASAIA			1.25		%	2.25		%
ASAP			1.40		%	1.65		%
ASAP II			1.40		%	2.15		%
ASAP II Premier			1.40		%	1.65		%
ASAP III			0.65		%	2.60		%
ASL			1.40		%	2.15		%
ASL II			1.65		%	3.05		%
ASL II Premier			1.65		%	2.25		%
ASL Premier			1.40		%	1.65		%
ASVIA			1.25		%	1.25		%
Choice			0.90		%	0.90		%
Choice 2000			0.65		%	2.05		%
Defined Investments Annuity			1.00		%	1.75		%
Emerald Choice			1.40		%	2.15		%
Galaxy III			1.00		%	1.25		%
Harvester Variable Annuity			1.40		%	1.65		%
Harvester XTra Credit			1.40		%	1.65		%
Imperium			1.40		%	2.15		%
Optimum			0.65		%	2.65		%
Optimum Four			1.65		%	3.05		%
Optimum Plus			0.65		%	3.05		%
Optimum XTra			1.75		%	3.10		%
Prudential FlexGuard			1.20		%	1.30		%
Prudential FlexGuard Income			1.20		%	1.30		%
PSA			1.40		%	1.40		%
Stagecoach			1.40		%	2.15		%
Stagecoach Apex II			1.65		%	3.00		%
Stagecoach ASAP III			1.25		%	2.60		%
Stagecoach Extra Credit			1.40		%	2.15		%
Stagecoach Flex			1.40		%	2.15		%
Stagecoach VA+			1.40		%	2.15		%
Stagecoach XTra Credit SIX			1.65		%	3.00		%
Wells Fargo Stagecoach Apex			1.40		%	2.15		%
XTra Credit			1.40		%	2.15		%
XTra Credit EIGHT			1.75		%	3.10		%
XTra Credit FOUR			1.40		%	2.15		%
XTra Credit FOUR Premier			1.40		%	1.65		%
XTra Credit Premier			1.40		%	1.65		%
XTra Credit SIX			0.65		%	3.05		%

A96

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Note 9:    Other

Accumulation units are the basic valuation units used to calculate a contract owner's interest allocated to the variable account before the annuitization date.

Contract owner net payments represent contract owner contributions, net of applicable deductions, charges, and state premium taxes, including amounts transferred to individual subaccounts by the general account to cover greater longevity of annuitants for contracts in payout and remittance of remediation credits to contract owners.

Annuity payments represent periodic payments distributed under the terms of the contract.

Surrenders, withdrawals and death benefits are payments to contract owners and beneficiaries made under the terms of the contracts, including amounts that contract owners have requested to be withdrawn or paid to them.

Net transfers between other subaccounts or fixed rate option are amounts that contract owners have directed to be moved among subaccounts, including permitted transfers to and from the guaranteed interest account and market value adjustment account.

Miscellaneous transactions primarily represent timing related adjustments on contract owner transactions, such as premiums, surrenders, transfers, etc. which are funded by the general account in order to maintain appropriate contract owner account balances.

Other charges are contract level charges assessed through the redemption of units as described in Note 8, Charges and Expenses.

A97

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Report of Independent Registered Public Accounting Firm

To the Board of Directors of Fortitude Life Insurance & Annuity Company and the Contract Owners of Fortitude Life Insurance & Annuity Company Variable Account B

Opinions on the Financial Statements

We have audited the accompanying statements of net assets of each of the subaccounts of Fortitude Life Insurance & Annuity Company Variable Account B in the table below as of the dates indicated in the table below, and the related statements of operations and of changes in net assets for each of the periods indicated in the table below, 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 Fortitude Life Insurance & Annuity Company Variable Account B as of the dates indicated in the table below, and the results of each of their operations and the changes in each of their net assets for the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.

AST Large-Cap Growth Portfolio (1)			ProFund VP Communication Services (1)
AST Government Money Market Portfolio (1)			ProFund VP UltraMid-Cap (1)
AST Cohen & Steers Realty Portfolio (1)			ProFund VP UltraNASDAQ-100 (1)
AST J.P. Morgan Tactical Preservation Portfolio (1)			ProFund VP UltraSmall-Cap (1)
AST High Yield Portfolio (1)			ProFund VP Utilities (1)
AST Small-Cap Value Portfolio (1)			ProFund VP Large-Cap Growth (1)
AST Mid-Cap Growth Portfolio (1)			ProFund VP Large-Cap Value (1)
AST Large-Cap Value Portfolio (1)			Rydex VT Nova Fund (1)
AST Mid-Cap Value Portfolio (1)			Rydex VT NASDAQ-100® Fund (1)
AST Small-Cap Growth Portfolio (1)			Rydex VT Inverse S&P 500® Strategy Fund (1)
AST T. Rowe Price Natural Resources Portfolio (1)			Invesco V.I. Health Care Fund (Series I) (1)
AST T. Rowe Price Asset Allocation Portfolio (1)			Invesco V.I. Technology Fund (Series I) (1)
AST International Value Portfolio (2)			Allspring VT Index Asset Allocation Fund (Class 2) (1)
AST MFS Global Equity Portfolio (1)			Allspring VT International Equity Fund (Class 2) (1)
AST J.P. Morgan International Equity Portfolio (2)			Allspring VT Small Cap Growth Fund (Class 2) (1)
AST International Equity Portfolio (1)			AST Prudential Growth Allocation Portfolio (1)
AST Wellington Management Hedged Equity Portfolio (3)			AST Advanced Strategies Portfolio (1)
AST Capital Growth Asset Allocation Portfolio (1)			AST Investment Grade Bond Portfolio (1)
AST Academic Strategies Asset Allocation Portfolio (1)			AST Cohen & Steers Global Realty Portfolio (4)
AST Balanced Asset Allocation Portfolio (1)			AST Emerging Markets Equity Portfolio (1)
AST Preservation Asset Allocation Portfolio (1)			Allspring VT Discovery All Cap Growth Fund (Class 2) (1)
AST J.P. Morgan Global Thematic Portfolio (1)			Allspring VT Discovery All Cap Growth Fund (Class 1) (1)
AST Core Fixed Income Portfolio (1)			Allspring VT Small Cap Growth Fund (Class 1) (1)
Davis Value Portfolio (1)			Allspring VT International Equity Fund (Class 1) (1)
Columbia Variable Portfolio - Small Company Growth Fund (Class 1) (1)			AST Bond Portfolio 2022 (5)
PSF International Growth Portfolio (Class I) (2)			AST Quantitative Modeling Portfolio (1)
ProFund VP Asia 30 (1)			AST BlackRock Global Strategies Portfolio (4)
ProFund VP Banks (1)			Invesco V.I. Diversified Dividend Fund (Series I) (1)
ProFund VP Bear (1)			Columbia Variable Portfolio - U.S. Government Mortgage Fund (Class 1) (1)
ProFund VP Biotechnology (1)			Columbia Variable Portfolio - Large Cap Growth Fund (Class 1) (1)
ProFund VP Materials (1)			Allspring VT Opportunity Fund (Class 1) (1)
ProFund VP UltraBull (1)			Allspring VT Opportunity Fund (Class 2) (1)

A98

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ProFund VP Bull (1)			AST Bond Portfolio 2023 (1)
ProFund VP Consumer Discretionary (1)			AST MFS Growth Allocation Portfolio (3)
ProFund VP Consumer Staples (1)			AST Western Asset Emerging Markets Debt Portfolio (2)
ProFund VP Energy (1)			AST Bond Portfolio 2024 (1)
ProFund VP Europe 30 (1)			AST ClearBridge Dividend Growth Portfolio (1)
ProFund VP Financials (1)			Columbia Variable Portfolio - Government Money Market Fund (Class 1) (1)
ProFund VP U.S. Government Plus (1)			Columbia Variable Portfolio - Income Opportunities Fund (Class 1) (1)
ProFund VP Health Care (1)			AST Large-Cap Core Portfolio (1)
ProFund Access VP High Yield Fund (1)			AST Bond Portfolio 2025 (1)
ProFund VP Industrials (1)			AST Bond Portfolio 2026 (1)
ProFund VP Internet (1)			AST Bond Portfolio 2027 (1)
ProFund VP Japan (1)			NVIT Emerging Markets Fund (Class D) (1)
ProFund VP Precious Metals (1)			AST Bond Portfolio 2028 (1)
ProFund VP Mid-Cap Growth (1)			AST Bond Portfolio 2029 (1)
ProFund VP Mid-Cap Value (1)			AST Bond Portfolio 2030 (1)
ProFund VP Pharmaceuticals (1)			AST Bond Portfolio 2031 (1)
ProFund VP Real Estate (1)			MFS® International Growth Portfolio (Service Class) (1)
ProFund VP Rising Rates Opportunity (1)			MFS® Total Return Bond Series (Service Class) (1)
ProFund VP NASDAQ-100 (1)			MFS® Total Return Series (Service Class) (1)
ProFund VP Semiconductor (1)			MFS® Value Series (Service Class) (1)
ProFund VP Small-Cap Growth (1)			PSF PGIM Government Money Market Portfolio (Class III) (1)
ProFund VP Short Mid-Cap (1)			Invesco V.I. Discovery Mid Cap Growth Fund (Series I) (1)
ProFund VP Short NASDAQ-100 (1)			AST Global Bond Portfolio (1)
ProFund VP Short Small-Cap (1)			AST Bond Portfolio 2032 (1)
ProFund VP Small-Cap Value (1)			AST Bond Portfolio 2033 (6)
ProFund VP Technology (1)			AST Bond Portfolio 2034 (7)
(1)Statement of net assets as of December 31, 2023, statement of operations for the period ended December 31, 2023 and statement of changes in net assets for the periods ended December 31, 2023 and 2022.
(2)Statement of net assets as of March 10, 2023 (date of merger), statement of operations for the period January 1, 2023 to March 10, 2023 and statement of changes in net assets for the period January 1, 2023 to March 10, 2023 and for the period ended December 31, 2022.
(3)Statement of net assets as of February 24, 2023 (date of merger), statement of operations for the period January 1, 2023 to February 24, 2023 and statement of changes in net assets for the period January 1, 2023 to February 24, 2023 and for the period ended December 31, 2022.
(4)Statement of net assets as of January 20, 2023 (date of merger), statement of operations for the period January 1, 2023 to January 20, 2023 and statement of changes in net assets for the period January 1, 2023 to January 20, 2023 and for the period ended December 31, 2022.
(5)Statement of net assets as of January 3, 2023 (date of liquidation), statement of operations for the period January 1, 2023 to January 3, 2023 and statement of changes in net assets for the period January 1, 2023 to January 3, 2023 and for the period ended December 31, 2022.
(6)Statement of net assets as of December 31, 2023, statement of operations for the period ended December 31, 2023, and statement of changes in net assets for the period ended December 31, 2023 and for the period January 3, 2022 (commencement of operations) to December 31, 2022.
(7)Statement of net assets as of December 31, 2023, statement of operations and statement of changes in net assets for the period January 3, 2023 (commencement of operations) to December 31, 2023.

A99

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Basis for Opinions

These financial statements are the responsibility of Fortitude Life Insurance & Annuity Company management. Our responsibility is to express an opinion on the financial statements of each of the subaccounts of Fortitude Life Insurance & Annuity Company Variable Account B 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 Fortitude Life Insurance & Annuity Company Variable Account B 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 transfer agents of the investee mutual funds. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

New York, New York

April 25, 2024

We have served as the auditor of one or more of the subaccounts of Fortitude Life Insurance & Annuity Company Variable Account B since 2003.

A100