Variable Annuity-2 Series Account

Financial Statements

Year Ended December 31, 2025

(With Report of Independent Registered Public Accounting Firm Thereon)

Report of Independent Registered Public Accounting Firm

To Those Charged with Governance of Variable Annuity-2 Series Account of Empower Annuity Insurance Company of America and Contract Owners of Variable Annuity-2 Series Account:

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of the subaccounts listed in the Appendix that comprise Variable Annuity-2 Series Account (the Separate Account), as of December 31, 2025, the related statements of operations for the year or period listed in the Appendix, the statements of changes in net assets for each of the years or periods listed in the Appendix, and the related notes (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Separate Account as of December 31, 2025, the results of its operations for the year or period listed in the Appendix, and the changes in its net assets for each of the years or periods listed in the Appendix, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Separate Account’s management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Separate Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements 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. Such procedures also included confirmation of securities owned as of December 31, 2025, by correspondence with the underlying mutual funds or their transfer agents; when replies were not received, we performed other appropriate auditing procedures. 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. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of one or more Empower Annuity Insurance Company of America Separate Accounts since 2021.

Birmingham, Alabama
April 16, 2026

Appendix

Statement of assets and liabilities as of December 31, 2025, the related statement of operations for the year then ended, and statements of changes in net assets for each of the years in the two-year period then ended.

Alger Capital Appreciation Portfolio, Class I-2

Alger Large Cap Growth Portfolio, Class I-2

Alger Mid Cap Growth Portfolio, Class I-2

Alger Small Cap Growth Portfolio, Class I-2

ALPS Alerian Energy Infrastructure Portfolio, Class III

ALPS Global Opportunity Portfolio, Class III

American Funds IS Capital World Growth and Income Fund, Class 4

American Funds IS Growth Fund, Class 4

American Funds IS Growth-Income Fund, Class 4

American Funds IS International Fund, Class 4

American Funds IS New World Fund, Class 4

American Funds IS Washington Mutual Investors Fund, Class 4

BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III

BlackRock Global Allocation V.I. Fund, Class III

BlackRock High Yield V.I. Fund, Class III

BNY Mellon IP Technology Growth Portfolio, Service Shares

BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares

BNY Mellon VIF Appreciation Portfolio, Initial Shares

BNY Mellon VIF Appreciation Portfolio, Service Shares

BNY Mellon VIF Growth and Income Portfolio, Initial Shares

ClearBridge Variable Large Cap Growth Portfolio, Class II

ClearBridge Variable Mid Cap Portfolio, Class II

ClearBridge Variable Small Cap Growth Portfolio, Class II

Columbia VP Select Small Cap Value Fund, Class 2

Columbia VP Seligman Global Technology Fund, Class 1

Columbia VP Seligman Global Technology Fund, Class 2

Columbia VP Small Cap Value Fund, Class 2

Columbia VP Strategic Income Fund, Class 2

Dimensional VA Equity Allocation Portfolio, Institutional

Dimensional VA Global Bond Portfolio, Institutional

Dimensional VA Global Moderate Allocation Portfolio, Institutional

Dimensional VA International Small Portfolio, Institutional

Dimensional VA International Value Portfolio, Institutional

Dimensional VA Short-Term Fixed Portfolio, Institutional

Dimensional VA US Large Value Portfolio, Institutional

Dimensional VA US Targeted Value Portfolio, Institutional

DWS Small Mid Cap Value VIP, Class B

Eaton Vance VT Floating-Rate Income Fund, Initial Class

Empower Aggressive Profile Fund, Investor Class

Empower Bond Index Fund, Investor Class

Empower Conservative Profile Fund, Class L

Empower Conservative Profile Fund, Investor Class

Empower Core Bond Fund, Investor Class

Empower Emerging Markets Equity Fund, Investor Class

Empower Global Bond Fund, Investor Class

Empower High Yield Bond Fund, Investor Class

Empower Inflation-Protected Securities Fund, Investor Class

Empower International Growth Fund, Investor Class

Empower International Index Fund, Investor Class

Empower International Value Fund, Investor Class

Empower Large Cap Growth Fund, Investor Class

Empower Large Cap Value Fund, Investor Class

Empower Lifetime 2015 Fund, Investor Class

Empower Lifetime 2020 Fund, Investor Class

Empower Lifetime 2025 Fund, Investor Class

Empower Lifetime 2030 Fund, Investor Class

Empower Lifetime 2035 Fund, Investor Class

Empower Lifetime 2040 Fund, Investor Class

Empower Lifetime 2045 Fund, Investor Class

Empower Lifetime 2050 Fund, Investor Class

Empower Lifetime 2055 Fund, Investor Class

Empower Mid Cap Value Fund, Investor Class

Empower Moderate Profile Fund, Class L

Empower Moderate Profile Fund, Investor Class

Empower Moderately Aggressive Profile Fund, Investor Class

Empower Moderately Conservative Profile Fund, Class L

Empower Moderately Conservative Profile Fund, Investor Class

Empower Multi-Sector Bond Fund, Investor Class

Empower Real Estate Index Fund, Investor Class

Empower S&P 500 Index Fund, Investor Class

Empower S&P Mid Cap 400 Index Fund, Investor Class

Empower S&P Small Cap 600 Index Fund, Investor Class

Empower SecureFoundation Balanced Fund, Class L

Empower Short Duration Bond Fund, Investor Class

Empower Small Cap Growth Fund, Investor Class

Empower Small Cap Value Fund, Investor Class

Empower T. Rowe Price Mid Cap Growth Fund, Investor Class

Empower U.S. Government Securities Fund, Investor Class

Federated Hermes High Income Bond Fund II, Service Shares

Fidelity VIP Asset Manager 50% Portfolio, Initial Class

Fidelity VIP Balanced Portfolio, Service Class 2

Fidelity VIP Contrafund Portfolio, Initial Class

Fidelity VIP Government Money Market Portfolio, Initial Class

Fidelity VIP Growth Opportunities Portfolio, Initial Class

Fidelity VIP Growth Portfolio, Initial Class

Fidelity VIP High Income Portfolio, Initial Class

Fidelity VIP Index 500 Portfolio, Initial Class

Fidelity VIP International Capital Appreciation Portfolio, Service Class 2

Fidelity VIP Investment Grade Bond Portfolio, Initial Class

Fidelity VIP Overseas Portfolio, Initial Class

First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I

Franklin Income VIP Fund, Class 4

Goldman Sachs VIT Large Cap Value Fund, Institutional Class

Goldman Sachs VIT Strategic Growth Fund, Institutional Class

Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class

Goldman Sachs VIT U.S. Equity Insights Fund, Service Class

Invesco V.I. Core Equity Fund, Series II

Invesco V.I. Core Plus Bond Fund, Series II

Invesco V.I. EQV International Equity Fund, Series II

Invesco V.I. Global Real Estate Fund, Series II

Invesco V.I. Growth and Income Fund, Series II

Invesco V.I. International Growth Fund, Series II

Invesco V.I. Main Street Small Cap Fund, Series II

Invesco V.I. Small Cap Equity Fund, Series II

Janus Henderson VIT Balanced Portfolio, Service Shares

Janus Henderson VIT Enterprise Portfolio, Service Shares

Janus Henderson VIT Flexible Bond Portfolio, Service Shares

Janus Henderson VIT Mid Cap Value Portfolio, Service Shares

Janus Henderson VIT Overseas Portfolio, Institutional Shares

Janus Henderson VIT Overseas Portfolio, Service Shares

Lord Abbett Series Fund Developing Growth Portfolio, Class VC

LVIP American Century Inflation Protection Fund, Service Class

LVIP American Century Mid Cap Value Fund, Service Class

LVIP American Century Value Fund, Service Class

LVIP JPMorgan Small Cap Core Fund, Service Class

LVIP Nomura U.S. REIT Fund, Service Class

MFS VIT II Blended Research Core Equity Portfolio, Service Class

MFS VIT II International Growth Portfolio, Service Class

MFS VIT II Technology Portfolio, Service Class

MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class

Neuberger Berman AMT Quality Equity Portfolio, Class S

Nomura VIP Emerging Markets Series, Service Class

Nomura VIP Energy Series, Service Class

Nomura VIP Small Cap Value Series, Service Class

NVIT Fidelity Institutional AM Emerging Markets Fund, Class D

PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class

PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class

PIMCO VIT Low Duration Portfolio, Advisor Class

PIMCO VIT Real Return Portfolio, Advisor Class

PIMCO VIT Short-Term Portfolio, Advisor Class

PIMCO VIT Total Return Portfolio, Advisor Class

Putnam VT Core Equity Fund, Class IB

Putnam VT Emerging Markets Equity Fund, Class IB

Putnam VT Focused International Equity Fund, Class IB

Putnam VT Global Asset Allocation Fund, Class IB

Putnam VT Income Fund, Class IB

Putnam VT International Equity Fund, Class IB

Putnam VT International Value Fund, Class IB

Putnam VT Large Cap Growth Fund, Class IB

Putnam VT Large Cap Value Fund, Class IB

Putnam VT Mortgage Securities Fund, Class IB

Putnam VT Research Fund, Class IB

Putnam VT Small Cap Growth Fund, Class IB

Putnam VT Small Cap Value Fund, Class IB

T. Rowe Price Blue Chip Growth Portfolio, Class II

T. Rowe Price Health Sciences Portfolio, Class II

VanEck VIP Emerging Markets Fund, Initial Class

VanEck VIP Global Resources Fund, Class S

VanEck VIP Global Resources Fund, Initial Class

The statement of changes in net assets for the period from January 1, 2024 to June 14, 2024 (date of liquidation).

Empower Government Money Market Fund, Investor Class

The statement of changes in net assets for the period from January 1, 2024 to June 17, 2024 (date of liquidation).

DWS Capital Growth VIP, Class B

DWS CROCI U.S. VIP, Class B

DWS Global Small Cap VIP, Class B

Statement of operations for the period from January 1, 2025 to April 11, 2025 (date of liquidation) and the statements of changes in net assets for the period from January 1, 2025 to April 11, 2025 (date of liquidation) and the year ended December 31, 2024.

Goldman Sachs VIT Multi-Strategy Alternatives Portfolio

The statement of changes in net assets for the period from January 1, 2024 to April 26, 2024 (date of merger).

Delaware VIP International Series, Service Class

The statement of changes in net assets for the period from January 1, 2024 to October 25, 2024 (date of merger).

Empower Ariel Mid Cap Value Fund, Investor Class

Statement of assets and liabilities as of December 31, 2025, the related statement of operations for the year then ended, and the statements of changes in net assets for the year ended December 31, 2025 and for the period from April 26, 2024 (date trading commenced) to December 31, 2024.

Nomura VIP International Core Equity Series, Service Class

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Alger Capital Appreciation Portfolio, Class I-2		Alger Large Cap Growth Portfolio, Class I-2		Alger Mid Cap Growth Portfolio, Class I-2		Alger Small Cap Growth Portfolio, Class I-2		ALPS Alerian Energy Infrastructure Portfolio, Class III		ALPS Global Opportunity Portfolio, Class III		American Funds IS Capital World Growth and Income Fund, Class 4
ASSETS:
Investments at fair value ⁽¹⁾	$	2,366,300	$	1,662,973	$	1,728,107	$	293,713	$	614,936	$	650,384	$	4,091,091
Receivable from the fund manager		91		64		66		10		16		14		91
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		4		28		7		-		-
Total assets		2,366,391		1,663,037		1,728,177		293,751		614,959		650,398		4,091,182

LIABILITIES:
Payable to the Contracts		91		64		66		10		16		14		91
Payable to the Company		16		15		-		-		-		226		2,756
Total liabilities		107		79		66		10		16		240		2,847

NET ASSETS	$	2,366,284	$	1,662,958	$	1,728,111	$	293,741	$	614,943	$	650,158	$	4,088,335

ANALYSIS OF NET ASSETS
Accumulation period	$	2,366,284	$	1,662,958	$	1,728,111	$	293,741	$	614,943	$	647,613	$	4,021,751
Annuity period		-		-		-		-		-		2,545		66,584
Total net assets	$	2,366,284	$	1,662,958	$	1,728,111	$	293,741	$	614,943	$	650,158	$	4,088,335

Fair value per share (NAV)	$	128.85	$	103.17	$	23.82	$	18.64	$	12.57	$	12.38	$	17.85
Shares outstanding in the Separate Account		18,365		16,119		72,549		15,757		48,921		52,535		229,193

⁽¹⁾Investments in mutual fund shares, at cost	$	1,609,489	$	1,206,714	$	1,535,196	$	307,956	$	582,472	$	599,139	$	3,058,248

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	American Funds IS Growth Fund, Class 4		American Funds IS Growth-Income Fund, Class 4		American Funds IS International Fund, Class 4		American Funds IS New World Fund, Class 4		American Funds IS Washington Mutual Investors Fund, Class 4		BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III		BlackRock Global Allocation V.I. Fund, Class III
ASSETS:
Investments at fair value ⁽¹⁾	$	12,472,925	$	4,155,637	$	2,921,490	$	3,076,978	$	4,036,123	$	71,468	$	3,181,658
Receivable from the fund manager		171		82		69		55		82		-		83
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		13		-		-		-		-		-
Total assets		12,473,096		4,155,732		2,921,559		3,077,033		4,036,205		71,468		3,181,741

LIABILITIES:
Payable to the Contracts		171		82		69		55		82		-		83
Payable to the Company		21		-		2,771		2,752		1		-		809
Total liabilities		192		82		2,840		2,807		83		-		892

NET ASSETS	$	12,472,904	$	4,155,650	$	2,918,719	$	3,074,226	$	4,036,122	$	71,468	$	3,180,849

ANALYSIS OF NET ASSETS
Accumulation period	$	12,472,904	$	4,155,650	$	2,851,301	$	3,007,613	$	4,036,122	$	71,468	$	3,165,307
Annuity period		-		-		67,418		66,613		-		-		15,542
Total net assets	$	12,472,904	$	4,155,650	$	2,918,719	$	3,074,226	$	4,036,122	$	71,468	$	3,180,849

Fair value per share (NAV)	$	134.39	$	64.77	$	21.83	$	31.71	$	17.55	$	14.71	$	13.34
Shares outstanding in the Separate Account		92,811		64,160		133,829		97,035		229,979		4,858		238,505


⁽¹⁾Investments in mutual fund shares, at cost	$	10,590,454	$	3,712,388	$	2,567,734	$	2,534,082	$	3,160,161	$	66,236	$	3,272,430

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	BlackRock High Yield V.I. Fund, Class III		BNY Mellon IP Technology Growth Portfolio, Service Shares		BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares		BNY Mellon VIF Appreciation Portfolio, Initial Shares		BNY Mellon VIF Appreciation Portfolio, Service Shares		BNY Mellon VIF Growth and Income Portfolio, Initial Shares		ClearBridge Variable Large Cap Growth Portfolio, Class II
ASSETS:
Investments at fair value ⁽¹⁾	$	4,887,446	$	487,279	$	576,177	$	196,001	$	588,034	$	448,526	$	3,561,200
Receivable from the fund manager		67		4		22		8		14		17		85
Receivable from dividends		26,046		-		-		-		-		-		-
Receivable from the Company		-		-		-		1		-		-		-
Total assets		4,913,559		487,283		576,199		196,010		588,048		448,543		3,561,285

LIABILITIES:
Payable to the Contracts		67		4		22		8		14		17		85
Payable to the Company		448		-		20		-		2		3		6
Total liabilities		515		4		42		8		16		20		91

NET ASSETS	$	4,913,044	$	487,279	$	576,157	$	196,002	$	588,032	$	448,523	$	3,561,194

ANALYSIS OF NET ASSETS
Accumulation period	$	4,907,550	$	487,279	$	576,157	$	196,002	$	588,032	$	448,523	$	3,561,194
Annuity period		5,494		-		-		-		-		-		-
Total net assets	$	4,913,044	$	487,279	$	576,157	$	196,002	$	588,032	$	448,523	$	3,561,194

Fair value per share (NAV)	$	7.04	$	17.49	$	58.50	$	33.67	$	32.72	$	39.78	$	47.01
Shares outstanding in the Separate Account		694,239		27,860		9,849		5,821		17,972		11,275		75,754

⁽¹⁾Investments in mutual fund shares, at cost	$	4,772,931	$	469,275	$	359,591	$	205,186	$	660,876	$	345,614	$	2,792,830

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	ClearBridge Variable Mid Cap Portfolio, Class II		ClearBridge Variable Small Cap Growth Portfolio, Class II		Columbia VP Select Small Cap Value Fund, Class 2		Columbia VP Seligman Global Technology Fund, Class 1		Columbia VP Seligman Global Technology Fund, Class 2		Columbia VP Small Cap Value Fund, Class 2		Columbia VP Strategic Income Fund, Class 2
ASSETS:
Investments at fair value ⁽¹⁾	$	638,321	$	2,235,560	$	286,217	$	10,283,419	$	398,485	$	32,764	$	2,028,279
Receivable from the fund manager		10		52		11		395		15		-		26
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		1		46		6		-		-
Total assets		638,331		2,235,612		286,229		10,283,860		398,506		32,764		2,028,305

LIABILITIES:
Payable to the Contracts		10		52		11		395		15		-		26
Payable to the Company		2		2		-		-		-		-		2
Total liabilities		12		54		11		395		15		-		28

NET ASSETS	$	638,319	$	2,235,558	$	286,218	$	10,283,465	$	398,491	$	32,764	$	2,028,277

ANALYSIS OF NET ASSETS
Accumulation period	$	638,319	$	2,235,558	$	286,218	$	10,283,465	$	398,491	$	32,764	$	2,028,277
Annuity period		-		-		-		-		-		-		-
Total net assets	$	638,319	$	2,235,558	$	286,218	$	10,283,465	$	398,491	$	32,764	$	2,028,277

Fair value per share (NAV)	$	23.51	$	25.71	$	40.33	$	41.85	$	33.97	$	12.44	$	3.74
Shares outstanding in the Separate Account		27,151		86,953		7,097		245,721		11,731		2,634		542,321

⁽¹⁾Investments in mutual fund shares, at cost	$	585,491	$	2,565,048	$	217,209	$	6,221,550	$	277,934	$	37,989	$	2,049,694

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Dimensional VA Equity Allocation Portfolio, Institutional		Dimensional VA Global Bond Portfolio, Institutional		Dimensional VA Global Moderate Allocation Portfolio, Institutional		Dimensional VA International Small Portfolio, Institutional		Dimensional VA International Value Portfolio, Institutional		Dimensional VA Short-Term Fixed Portfolio, Institutional		Dimensional VA US Large Value Portfolio, Institutional
ASSETS:
Investments at fair value ⁽¹⁾	$	1,066,886	$	31,837	$	1,178,842	$	352,982	$	879,913	$	659,175	$	2,632,423
Receivable from the fund manager		16		-		20		12		28		10		70
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		-		-		-		-
Total assets		1,066,902		31,837		1,178,862		352,994		879,941		659,185		2,632,493

LIABILITIES:
Payable to the Contracts		16		-		20		12		28		10		70
Payable to the Company		1		-		1		1		518		-		517
Total liabilities		17		-		21		13		546		10		587

NET ASSETS	$	1,066,885	$	31,837	$	1,178,841	$	352,981	$	879,395	$	659,175	$	2,631,906

ANALYSIS OF NET ASSETS
Accumulation period	$	1,066,885	$	31,837	$	1,178,841	$	352,981	$	868,984	$	659,175	$	2,621,506
Annuity period		-		-		-		-		10,411		-		10,400
Total net assets	$	1,066,885	$	31,837	$	1,178,841	$	352,981	$	879,395	$	659,175	$	2,631,906

Fair value per share (NAV)	$	18.44	$	9.75	$	18.12	$	14.78	$	18.53	$	10.07	$	34.91
Shares outstanding in the Separate Account		57,857		3,265		65,058		23,882		47,486		65,459		75,406

⁽¹⁾Investments in mutual fund shares, at cost	$	671,059	$	33,655	$	1,009,528	$	288,923	$	627,357	$	667,054	$	2,259,987

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Dimensional VA US Targeted Value Portfolio, Institutional		DWS Small Mid Cap Value VIP, Class B		Eaton Vance VT Floating-Rate Income Fund, Initial Class		Empower Aggressive Profile Fund, Investor Class		Empower Bond Index Fund, Investor Class		Empower Conservative Profile Fund, Class L		Empower Conservative Profile Fund, Investor Class
ASSETS:
Investments at fair value ⁽¹⁾	$	834,565	$	355,904	$	3,220,288	$	4,450,672	$	12,002,491	$	3,795,128	$	8,182,381
Receivable from the fund manager		30		2		50		85		129		13,149		6,879
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		-		-		174		-
Total assets		834,595		355,906		3,220,338		4,450,757		12,002,620		3,808,451		8,189,260

LIABILITIES:
Payable to the Contracts		30		2		50		85		129		13,149		6,879
Payable to the Company		5		3		5,397		4,953		4,667		-		17
Total liabilities		35		5		5,447		5,038		4,796		13,149		6,896

NET ASSETS	$	834,560	$	355,901	$	3,214,891	$	4,445,719	$	11,997,824	$	3,795,302	$	8,182,364

ANALYSIS OF NET ASSETS
Accumulation period	$	834,560	$	355,901	$	3,083,459	$	4,387,537	$	11,828,402	$	3,795,302	$	8,182,364
Annuity period		-		-		131,432		58,182		169,422		-		-
Total net assets	$	834,560	$	355,901	$	3,214,891	$	4,445,719	$	11,997,824	$	3,795,302	$	8,182,364

Fair value per share (NAV)	$	22.28	$	14.12	$	8.37	$	6.04	$	13.02	$	9.66	$	7.76
Shares outstanding in the Separate Account		37,458		25,206		384,742		736,866		921,850		392,870		1,054,431


⁽¹⁾Investments in mutual fund shares, at cost	$	813,089	$	356,498	$	3,294,958	$	4,299,273	$	12,046,593	$	3,683,608	$	8,178,778

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Core Bond Fund, Investor Class		Empower Emerging Markets Equity Fund, Investor Class		Empower Global Bond Fund, Investor Class		Empower High Yield Bond Fund, Investor Class		Empower Inflation-Protected Securities Fund, Investor Class		Empower International Growth Fund, Investor Class		Empower International Index Fund, Investor Class
ASSETS:
Investments at fair value ⁽¹⁾	$	9,383,266	$	366,454	$	1,412,443	$	562,102	$	255,160	$	704,643	$	9,802,707
Receivable from the fund manager		81		4		24		13		5		20		131
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		-		2		-		2,220
Total assets		9,383,347		366,458		1,412,467		562,115		255,167		704,663		9,805,058

LIABILITIES:
Payable to the Contracts		81		4		24		13		5		20		131
Payable to the Company		20		6		176		316		-		5		-
Total liabilities		101		10		200		329		5		25		131

NET ASSETS	$	9,383,246	$	366,448	$	1,412,267	$	561,786	$	255,162	$	704,638	$	9,804,927

ANALYSIS OF NET ASSETS
Accumulation period	$	9,382,808	$	366,448	$	1,408,802	$	555,404	$	255,162	$	704,638	$	9,667,243
Annuity period		438		-		3,465		6,382		-		-		137,684
Total net assets	$	9,383,246	$	366,448	$	1,412,267	$	561,786	$	255,162	$	704,638	$	9,804,927

Fair value per share (NAV)	$	9.90	$	11.91	$	6.97	$	8.10	$	9.18	$	13.70	$	15.76
Shares outstanding in the Separate Account		947,805		30,769		202,646		69,395		27,795		51,434		621,999

⁽¹⁾Investments in mutual fund shares, at cost	$	9,798,230	$	274,405	$	1,532,564	$	538,843	$	267,514	$	716,127	$	7,710,265

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Empower International Value Fund, Investor Class		Empower Large Cap Growth Fund, Investor Class		Empower Large Cap Value Fund, Investor Class		Empower Lifetime 2015 Fund, Investor Class		Empower Lifetime 2020 Fund, Investor Class		Empower Lifetime 2025 Fund, Investor Class		Empower Lifetime 2030 Fund, Investor Class
ASSETS:
Investments at fair value ⁽¹⁾	$	4,053,880	$	6,955,186	$	3,292,861	$	917,388	$	403,458	$	1,338,727	$	1,919,181
Receivable from the fund manager		59		90		63		8		5		23		48
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		5		-		-		-		1
Total assets		4,053,939		6,955,276		3,292,929		917,396		403,463		1,338,750		1,919,230

LIABILITIES:
Payable to the Contracts		59		90		63		8		5		23		48
Payable to the Company		6		22		-		1		2		5		-
Total liabilities		65		112		63		9		7		28		48

NET ASSETS	$	4,053,874	$	6,955,164	$	3,292,866	$	917,387	$	403,456	$	1,338,722	$	1,919,182

ANALYSIS OF NET ASSETS
Accumulation period	$	4,053,874	$	6,955,164	$	3,292,866	$	917,387	$	403,456	$	1,338,722	$	1,919,182
Annuity period		-		-		-		-		-		-		-
Total net assets	$	4,053,874	$	6,955,164	$	3,292,866	$	917,387	$	403,456	$	1,338,722	$	1,919,182

Fair value per share (NAV)	$	15.87	$	10.42	$	35.42	$	13.76	$	10.84	$	14.69	$	11.35
Shares outstanding in the Separate Account		255,443		667,484		92,966		66,671		37,219		91,132		169,091

⁽¹⁾Investments in mutual fund shares, at cost	$	3,171,908	$	6,514,362	$	2,627,860	$	903,084	$	392,101	$	1,323,389	$	1,889,389

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Lifetime 2035 Fund, Investor Class		Empower Lifetime 2040 Fund, Investor Class		Empower Lifetime 2045 Fund, Investor Class		Empower Lifetime 2050 Fund, Investor Class		Empower Lifetime 2055 Fund, Investor Class		Empower Mid Cap Value Fund, Investor Class		Empower Moderate Profile Fund, Class L
ASSETS:
Investments at fair value ⁽¹⁾	$	574,035	$	447,839	$	139,229	$	663,487	$	228,910	$	2,188,862	$	72,870,535
Receivable from the fund manager		10		12		2		11		6		49		238,036
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		-		-		-		-
Total assets		574,045		447,851		139,231		663,498		228,916		2,188,911		73,108,571

LIABILITIES:
Payable to the Contracts		10		12		2		11		6		49		238,036
Payable to the Company		4		2		-		1		1		1		3,813
Total liabilities		14		14		2		12		7		50		241,849

NET ASSETS	$	574,031	$	447,837	$	139,229	$	663,486	$	228,909	$	2,188,861	$	72,866,722

ANALYSIS OF NET ASSETS
Accumulation period	$	574,031	$	447,837	$	139,229	$	663,486	$	228,909	$	2,188,861	$	72,774,086
Annuity period		-		-		-		-		-		-		92,636
Total net assets	$	574,031	$	447,837	$	139,229	$	663,486	$	228,909	$	2,188,861	$	72,866,722

Fair value per share (NAV)	$	15.11	$	11.71	$	15.76	$	12.52	$	20.88	$	14.07	$	12.10
Shares outstanding in the Separate Account		37,990		38,244		8,834		52,994		10,963		155,569		6,022,358

⁽¹⁾Investments in mutual fund shares, at cost	$	524,829	$	406,790	$	121,417	$	623,768	$	180,712	$	2,149,882	$	64,974,266

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Moderate Profile Fund, Investor Class		Empower Moderately Aggressive Profile Fund, Investor Class		Empower Moderately Conservative Profile Fund, Class L		Empower Moderately Conservative Profile Fund, Investor Class		Empower Multi-Sector Bond Fund, Investor Class		Empower Real Estate Index Fund, Investor Class		Empower S&P 500 Index Fund, Investor Class
ASSETS:
Investments at fair value ⁽¹⁾	$	41,498,076	$	10,598,192	$	10,283,320	$	14,192,710	$	4,364,490	$	2,535,142	$	89,186,758
Receivable from the fund manager		67,086		175		32,502		24,632		74		243		1,684
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		-		-		-		10,470
Total assets		41,565,162		10,598,367		10,315,822		14,217,342		4,364,564		2,535,385		89,198,912

LIABILITIES:
Payable to the Contracts		67,086		175		32,502		24,632		74		243		1,684
Payable to the Company		3,624		942		1,676		23		7		11		-
Total liabilities		70,710		1,117		34,178		24,655		81		254		1,684

NET ASSETS	$	41,494,452	$	10,597,250	$	10,281,644	$	14,192,687	$	4,364,483	$	2,535,131	$	89,197,228

ANALYSIS OF NET ASSETS
Accumulation period	$	41,382,090	$	10,454,039	$	10,267,073	$	14,192,687	$	4,364,483	$	2,535,131	$	88,002,051
Annuity period		112,362		143,211		14,571		-		-		-		1,195,177
Total net assets	$	41,494,452	$	10,597,250	$	10,281,644	$	14,192,687	$	4,364,483	$	2,535,131	$	89,197,228

Fair value per share (NAV)	$	6.56	$	7.46	$	9.91	$	8.38	$	13.54	$	12.22	$	43.96
Shares outstanding in the Separate Account		6,325,926		1,420,669		1,037,671		1,693,641		322,340		207,458		2,028,816

⁽¹⁾Investments in mutual fund shares, at cost	$	43,052,846	$	10,583,864	$	9,953,018	$	14,181,370	$	4,357,474	$	2,663,671	$	58,666,631

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Empower S&P Mid Cap 400 Index Fund, Investor Class		Empower S&P Small Cap 600 Index Fund, Investor Class		Empower SecureFoundation Balanced Fund, Class L		Empower Short Duration Bond Fund, Investor Class		Empower Small Cap Growth Fund, Investor Class		Empower Small Cap Value Fund, Investor Class		Empower T. Rowe Price Mid Cap Growth Fund, Investor Class
ASSETS:
Investments at fair value ⁽¹⁾	$	12,473,892	$	12,125,929	$	160,537,645	$	3,868,549	$	610,003	$	2,704,053	$	6,685,117
Receivable from the fund manager		213		197		505,591		48		16		52		143
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		932		-		-		-		15		-
Total assets		12,474,105		12,127,058		161,043,236		3,868,597		610,019		2,704,120		6,685,260

LIABILITIES:
Payable to the Contracts		213		197		505,591		48		16		52		143
Payable to the Company		484		-		1,230		6,813		6		-		6
Total liabilities		697		197		506,821		6,861		22		52		149

NET ASSETS	$	12,473,408	$	12,126,861	$	160,536,415	$	3,861,736	$	609,997	$	2,704,068	$	6,685,111

ANALYSIS OF NET ASSETS
Accumulation period	$	12,303,863	$	12,023,665	$	160,484,330	$	3,701,440	$	609,997	$	2,704,068	$	6,685,111
Annuity period		169,545		103,196		52,085		160,296		-		-		-
Total net assets	$	12,473,408	$	12,126,861	$	160,536,415	$	3,861,736	$	609,997	$	2,704,068	$	6,685,111

Fair value per share (NAV)	$	21.07	$	12.91	$	11.31	$	10.49	$	10.91	$	39.82	$	38.14
Shares outstanding in the Separate Account		592,021		939,266		14,194,310		368,785		55,912		67,907		175,278

⁽¹⁾Investments in mutual fund shares, at cost	$	11,152,622	$	12,294,221	$	163,072,233	$	3,790,096	$	654,050	$	2,145,412	$	5,896,332

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Empower U.S. Government Securities Fund, Investor Class		Federated Hermes High Income Bond Fund II, Service Shares		Fidelity VIP Asset Manager 50% Portfolio, Initial Class		Fidelity VIP Balanced Portfolio, Service Class 2		Fidelity VIP Contrafund Portfolio, Initial Class		Fidelity VIP Government Money Market Portfolio, Initial Class		Fidelity VIP Growth Opportunities Portfolio, Initial Class
ASSETS:
Investments at fair value ⁽¹⁾	$	1,476,493	$	245,939	$	1,030,180	$	19,949,064	$	1,420,107	$	22,840,668	$	386,004
Receivable from the fund manager		18		4		39		327		52		2,092		14
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		6,804		-		-		-
Total assets		1,476,511		245,943		1,030,219		19,956,195		1,420,159		22,842,760		386,018

LIABILITIES:
Payable to the Contracts		17		4		39		327		52		2,092		14
Payable to the Company		5,415		1		1		-		12		55,583		15
Total liabilities		5,432		5		40		327		64		57,675		29

NET ASSETS	$	1,471,079	$	245,938	$	1,030,179	$	19,955,868	$	1,420,095	$	22,785,085	$	385,989

ANALYSIS OF NET ASSETS
Accumulation period	$	1,339,205	$	245,938	$	1,030,179	$	19,830,055	$	1,420,095	$	22,587,631	$	385,989
Annuity period		131,874		-		-		125,813		-		197,454		-
Total net assets	$	1,471,079	$	245,938	$	1,030,179	$	19,955,868	$	1,420,095	$	22,785,085	$	385,989

Fair value per share (NAV)	$	11.12	$	5.75	$	17.62	$	25.45	$	59.89	$	1.00	$	99.69
Shares outstanding in the Separate Account		132,778		42,772		58,467		783,853		23,712		22,840,668		3,872

⁽¹⁾Investments in mutual fund shares, at cost	$	1,510,208	$	235,539	$	888,342	$	17,014,434	$	1,067,750	$	22,840,666	$	228,674

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Fidelity VIP Growth Portfolio, Initial Class		Fidelity VIP High Income Portfolio, Initial Class		Fidelity VIP Index 500 Portfolio, Initial Class		Fidelity VIP International Capital Appreciation Portfolio, Service Class 2		Fidelity VIP Investment Grade Bond Portfolio, Initial Class		Fidelity VIP Overseas Portfolio, Initial Class		First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I
ASSETS:
Investments at fair value ⁽¹⁾	$	4,588,867	$	124,540	$	1,572,228	$	4,817,581	$	132,646	$	135,112	$	489,895
Receivable from the fund manager		175		5		60		50		5		5		14
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		184		2		-		3		-
Total assets		4,589,042		124,545		1,572,472		4,817,633		132,651		135,120		489,909

LIABILITIES:
Payable to the Contracts		175		5		60		50		5		5		14
Payable to the Company		24		-		-		-		-		-		5
Total liabilities		199		5		60		50		5		5		19

NET ASSETS	$	4,588,843	$	124,540	$	1,572,412	$	4,817,583	$	132,646	$	135,115	$	489,890

ANALYSIS OF NET ASSETS
Accumulation period	$	4,588,843	$	124,540	$	1,572,412	$	4,817,583	$	132,646	$	135,115	$	489,890
Annuity period		-		-		-		-		-		-		-
Total net assets	$	4,588,843	$	124,540	$	1,572,412	$	4,817,583	$	132,646	$	135,115	$	489,890

Fair value per share (NAV)	$	97.72	$	4.88	$	660.13	$	26.25	$	11.36	$	27.52	$	13.17
Shares outstanding in the Separate Account		46,959		25,520		2,382		183,527		11,677		4,910		37,198

⁽¹⁾Investments in mutual fund shares, at cost	$	3,714,589	$	133,896	$	579,547	$	4,145,366	$	146,283	$	119,866	$	475,003

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Franklin Income VIP Fund, Class 4		Goldman Sachs VIT Large Cap Value Fund, Institutional Class		Goldman Sachs VIT Strategic Growth Fund, Institutional Class		Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class		Goldman Sachs VIT U.S. Equity Insights Fund, Service Class		Invesco V.I. Core Equity Fund, Series II		Invesco V.I. Core Plus Bond Fund, Series II
ASSETS:
Investments at fair value ⁽¹⁾	$	4,055,180	$	313,779	$	-	$	75,911	$	1,309,036	$	122,452	$	212,499
Receivable from the fund manager		886		12		-		3		27		3		6
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		7		-		-		40
Total assets		4,056,066		313,791		-		75,921		1,309,063		122,455		212,545

LIABILITIES:
Payable to the Contracts		886		12		-		3		27		3		6
Payable to the Company		4		-		-		-		14		5		-
Total liabilities		890		12		-		3		41		8		6

NET ASSETS	$	4,055,176	$	313,779	$	-	$	75,918	$	1,309,022	$	122,447	$	212,539

ANALYSIS OF NET ASSETS
Accumulation period	$	4,055,176	$	313,779	$	-	$	75,918	$	1,309,022	$	122,447	$	212,539
Annuity period		-		-		-		-		-		-		-
Total net assets	$	4,055,176	$	313,779	$	-	$	75,918	$	1,309,022	$	122,447	$	212,539

Fair value per share (NAV)	$	15.72	$	8.18	$	15.49	$	21.79	$	22.04	$	35.76	$	5.77
Shares outstanding in the Separate Account		257,963		38,359		-		3,484		59,394		3,424		36,828

⁽¹⁾Investments in mutual fund shares, at cost	$	3,901,458	$	357,766	$	-	$	66,074	$	1,227,170	$	100,269	$	209,092

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Invesco V.I. EQV International Equity Fund, Series II		Invesco V.I. Global Real Estate Fund, Series II		Invesco V.I. Growth and Income Fund, Series II		Invesco V.I. International Growth Fund, Series II		Invesco V.I. Main Street Small Cap Fund, Series II		Invesco V.I. Small Cap Equity Fund, Series II		Janus Henderson VIT Balanced Portfolio, Service Shares
ASSETS:
Investments at fair value ⁽¹⁾	$	416,935	$	366,485	$	2,897,083	$	374,551	$	1,640,825	$	108,275	$	14,821,431
Receivable from the fund manager		8		6		61		12		37		1		256
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		4		-		-		-		-
Total assets		416,943		366,491		2,897,148		374,563		1,640,862		108,276		14,821,687

LIABILITIES:
Payable to the Contracts		8		6		61		12		37		1		256
Payable to the Company		1		378		-		5		6		2		3
Total liabilities		9		384		61		17		43		3		259

NET ASSETS	$	416,934	$	366,107	$	2,897,087	$	374,546	$	1,640,819	$	108,273	$	14,821,428

ANALYSIS OF NET ASSETS
Accumulation period	$	416,934	$	361,652	$	2,897,087	$	374,546	$	1,640,819	$	108,273	$	14,821,428
Annuity period		-		4,455		-		-		-		-		-
Total net assets	$	416,934	$	366,107	$	2,897,087	$	374,546	$	1,640,819	$	108,273	$	14,821,428

Fair value per share (NAV)	$	35.39	$	13.80	$	21.34	$	2.07	$	27.71	$	17.83	$	59.48
Shares outstanding in the Separate Account		11,781		26,557		135,758		180,943		59,214		6,073		249,183

⁽¹⁾Investments in mutual fund shares, at cost	$	363,304	$	380,278	$	2,627,848	$	316,543	$	1,523,423	$	99,641	$	11,181,506

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Janus Henderson VIT Enterprise Portfolio, Service Shares		Janus Henderson VIT Flexible Bond Portfolio, Service Shares		Janus Henderson VIT Mid Cap Value Portfolio, Service Shares		Janus Henderson VIT Overseas Portfolio, Institutional Shares		Janus Henderson VIT Overseas Portfolio, Service Shares		Lord Abbett Series Fund Developing Growth Portfolio, Class VC		LVIP American Century Inflation Protection Fund, Service Class
ASSETS:
Investments at fair value ⁽¹⁾	$	3,669,837	$	1,362,022	$	156,876	$	97,182	$	39,490	$	258,310	$	317,272
Receivable from the fund manager		67		24		1		4		-		7		3
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		-		829		-		1
Total assets		3,669,904		1,362,046		156,877		97,186		40,319		258,317		317,276

LIABILITIES:
Payable to the Contracts		67		24		1		4		-		7		3
Payable to the Company		6		1		-		1		-		1		-
Total liabilities		73		25		1		5		-		8		3

NET ASSETS	$	3,669,831	$	1,362,021	$	156,876	$	97,181	$	40,319	$	258,309	$	317,273

ANALYSIS OF NET ASSETS
Accumulation period	$	3,669,831	$	1,362,021	$	156,876	$	97,181	$	25,021	$	258,309	$	317,273
Annuity period		-		-		-		-		15,298		-		-
Total net assets	$	3,669,831	$	1,362,021	$	156,876	$	97,181	$	40,319	$	258,309	$	317,273

Fair value per share (NAV)	$	73.35	$	11.14	$	16.78	$	55.82	$	53.02	$	33.43	$	9.04
Shares outstanding in the Separate Account		50,032		122,264		9,349		1,741		745		7,727		35,112

⁽¹⁾Investments in mutual fund shares, at cost	$	3,301,419	$	1,471,110	$	153,695	$	71,736	$	26,351	$	263,310	$	348,928

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	LVIP American Century Mid Cap Value Fund, Service Class		LVIP American Century Value Fund, Service Class		LVIP JPMorgan Small Cap Core Fund, Service Class		LVIP Nomura U.S. REIT Fund, Service Class		MFS VIT II Blended Research Core Equity Portfolio, Service Class		MFS VIT II International Growth Portfolio, Service Class		MFS VIT II Technology Portfolio, Service Class
ASSETS:
Investments at fair value ⁽¹⁾	$	3,151,820	$	4,701,293	$	306,762	$	221,440	$	3,194,650	$	258,866	$	11,922,574
Receivable from the fund manager		63		118		4		6		47		2		200
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		1		-		-		-		-		4
Total assets		3,151,883		4,701,412		306,766		221,446		3,194,697		258,868		11,922,778

LIABILITIES:
Payable to the Contracts		62		118		4		6		47		2		200
Payable to the Company		2		-		2		4		10		-		-
Total liabilities		64		118		6		10		57		2		200

NET ASSETS	$	3,151,819	$	4,701,294	$	306,760	$	221,436	$	3,194,640	$	258,866	$	11,922,578

ANALYSIS OF NET ASSETS
Accumulation period	$	3,151,819	$	4,701,294	$	306,760	$	221,436	$	3,194,640	$	258,866	$	11,922,578
Annuity period		-		-		-		-		-		-		-
Total net assets	$	3,151,819	$	4,701,294	$	306,760	$	221,436	$	3,194,640	$	258,866	$	11,922,578

Fair value per share (NAV)	$	19.40	$	12.94	$	21.61	$	13.51	$	59.70	$	17.60	$	37.96
Shares outstanding in the Separate Account		162,507		363,399		14,195		16,391		53,512		14,708		314,083

⁽¹⁾Investments in mutual fund shares, at cost	$	3,214,419	$	4,350,100	$	306,572	$	213,433	$	3,069,297	$	216,252	$	9,731,766

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class		Neuberger Berman AMT Quality Equity Portfolio, Class S		Nomura VIP Emerging Markets Series, Service Class		Nomura VIP Energy Series, Service Class		Nomura VIP International Core Equity Series, Service Class		Nomura VIP Small Cap Value Series, Service Class		NVIT Fidelity Institutional AM Emerging Markets Fund, Class D
ASSETS:
Investments at fair value ⁽¹⁾	$	975,770	$	997,792	$	1,713,296	$	1,179,009	$	83,247	$	1,217,130	$	56,452
Receivable from the fund manager		13		27		35		16		3		27		2
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		-		-		-		-
Total assets		975,783		997,819		1,713,331		1,179,025		83,250		1,217,157		56,454

LIABILITIES:
Payable to the Contracts		13		27		35		16		3		27		2
Payable to the Company		3		-		14		243		-		6		-
Total liabilities		16		27		49		259		3		33		2

NET ASSETS	$	975,767	$	997,792	$	1,713,282	$	1,178,766	$	83,247	$	1,217,124	$	56,452

ANALYSIS OF NET ASSETS
Accumulation period	$	975,767	$	997,792	$	1,713,282	$	1,175,908	$	83,247	$	1,217,124	$	56,452
Annuity period		-		-		-		2,858		-		-		-
Total net assets	$	975,767	$	997,792	$	1,713,282	$	1,178,766	$	83,247	$	1,217,124	$	56,452

Fair value per share (NAV)	$	9.19	$	42.82	$	40.01	$	5.18	$	19.44	$	39.87	$	14.62
Shares outstanding in the Separate Account		106,177		23,302		42,822		227,608		4,282		30,527		3,861

⁽¹⁾Investments in mutual fund shares, at cost	$	964,674	$	733,760	$	1,075,324	$	1,201,063	$	71,954	$	1,152,025	$	40,716

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class		PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class		PIMCO VIT Low Duration Portfolio, Advisor Class		PIMCO VIT Real Return Portfolio, Advisor Class		PIMCO VIT Short-Term Portfolio, Advisor Class		PIMCO VIT Total Return Portfolio, Advisor Class		Putnam VT Core Equity Fund, Class IB
ASSETS:
Investments at fair value ⁽¹⁾	$	1,239,078	$	507,316	$	2,932,868	$	1,361,033	$	2,329,663	$	11,504,749	$	1,708,538
Receivable from the fund manager		13		10		54		16		39		117		23
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		6		-		-		-		-		-
Total assets		1,239,091		507,332		2,932,922		1,361,049		2,329,702		11,504,866		1,708,561

LIABILITIES:
Payable to the Contracts		13		10		54		16		39		117		23
Payable to the Company		158		-		5,410		5,627		592		6,134		-
Total liabilities		171		10		5,464		5,643		631		6,251		23

NET ASSETS	$	1,238,920	$	507,322	$	2,927,458	$	1,355,406	$	2,329,071	$	11,498,615	$	1,708,538

ANALYSIS OF NET ASSETS
Accumulation period	$	1,237,030	$	507,322	$	2,795,578	$	1,219,305	$	2,321,972	$	11,358,428	$	1,708,538
Annuity period		1,890		-		131,880		136,101		7,099		140,187		-
Total net assets	$	1,238,920	$	507,322	$	2,927,458	$	1,355,406	$	2,329,071	$	11,498,615	$	1,708,538

Fair value per share (NAV)	$	6.42	$	7.48	$	9.78	$	12.01	$	10.33	$	9.45	$	23.60
Shares outstanding in the Separate Account		193,003		67,823		299,884		113,325		225,524		1,217,434		72,396

⁽¹⁾Investments in mutual fund shares, at cost	$	1,171,680	$	554,142	$	2,930,144	$	1,364,579	$	2,319,156	$	11,602,906	$	1,458,659

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Putnam VT Emerging Markets Equity Fund, Class IB		Putnam VT Focused International Equity Fund, Class IB		Putnam VT Global Asset Allocation Fund, Class IB		Putnam VT Income Fund, Class IB		Putnam VT International Equity Fund, Class IB		Putnam VT International Value Fund, Class IB		Putnam VT Large Cap Growth Fund, Class IB
ASSETS:
Investments at fair value ⁽¹⁾	$	53,103	$	502,229	$	1,172,428	$	1,452,005	$	508,977	$	325,643	$	7,918,124
Receivable from the fund manager		2		17		37		14		10		6		143
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		1		-		-		-
Total assets		53,105		502,246		1,172,465		1,452,020		508,987		325,649		7,918,267

LIABILITIES:
Payable to the Contracts		2		17		37		14		10		6		143
Payable to the Company		1		4		5		-		2		1		17
Total liabilities		3		21		42		14		12		7		160

NET ASSETS	$	53,102	$	502,225	$	1,172,423	$	1,452,006	$	508,975	$	325,642	$	7,918,107

ANALYSIS OF NET ASSETS
Accumulation period	$	53,102	$	502,225	$	1,172,423	$	1,452,006	$	508,975	$	325,642	$	7,918,107
Annuity period		-		-		-		-		-		-		-
Total net assets	$	53,102	$	502,225	$	1,172,423	$	1,452,006	$	508,975	$	325,642	$	7,918,107

Fair value per share (NAV)	$	25.60	$	19.08	$	19.88	$	8.19	$	19.81	$	15.86	$	17.58
Shares outstanding in the Separate Account		2,074		26,322		58,975		177,290		25,693		20,532		450,405

⁽¹⁾Investments in mutual fund shares, at cost	$	38,291	$	372,496	$	1,060,356	$	1,589,085	$	437,203	$	279,005	$	5,790,331

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	Putnam VT Large Cap Value Fund, Class IB		Putnam VT Mortgage Securities Fund, Class IB		Putnam VT Research Fund, Class IB		Putnam VT Small Cap Growth Fund, Class IB		Putnam VT Small Cap Value Fund, Class IB		T. Rowe Price Blue Chip Growth Portfolio, Class II		T. Rowe Price Health Sciences Portfolio, Class II
ASSETS:
Investments at fair value ⁽¹⁾	$	1,092,726	$	138,377	$	189,658	$	169,724	$	401,381	$	29,790,477	$	4,901,304
Receivable from the fund manager		31		1		6		5		7		583		106
Receivable from dividends		-		-		-		-		-		-		-
Receivable from the Company		-		-		-		-		-		1,615		-
Total assets		1,092,757		138,378		189,664		169,729		401,388		29,792,675		4,901,410

LIABILITIES:
Payable to the Contracts		31		1		6		5		7		583		106
Payable to the Company		7		-		3		6		2		-		8
Total liabilities		38		1		9		11		9		583		114

NET ASSETS	$	1,092,719	$	138,377	$	189,655	$	169,718	$	401,379	$	29,792,092	$	4,901,296

ANALYSIS OF NET ASSETS
Accumulation period	$	1,092,719	$	138,377	$	189,655	$	169,718	$	401,379	$	29,761,604	$	4,901,296
Annuity period		-		-		-		-		-		30,488		-
Total net assets	$	1,092,719	$	138,377	$	189,655	$	169,718	$	401,379	$	29,792,092	$	4,901,296

Fair value per share (NAV)	$	35.69	$	6.20	$	47.36	$	21.55	$	10.81	$	60.72	$	54.03
Shares outstanding in the Separate Account		30,617		22,319		4,005		7,876		37,131		490,620		90,714

⁽¹⁾Investments in mutual fund shares, at cost	$	772,585	$	163,978	$	140,856	$	131,190	$	381,059	$	22,571,157	$	4,880,027

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

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

	SUBACCOUNTS
	VanEck VIP Emerging Markets Fund, Initial Class		VanEck VIP Global Resources Fund, Class S		VanEck VIP Global Resources Fund, Initial Class
ASSETS:
Investments at fair value ⁽¹⁾	$	85,710	$	361,796	$	91,175
Receivable from the fund manager		3		8		4
Receivable from dividends		-		-		-
Receivable from the Company		-		-		-
Total assets		85,713		361,804		91,179

LIABILITIES:
Payable to the Contracts		3		8		4
Payable to the Company		-		3		2
Total liabilities		3		11		6

NET ASSETS	$	85,710	$	361,793	$	91,173

ANALYSIS OF NET ASSETS
Accumulation period	$	85,710	$	361,793	$	91,173
Annuity period		-		-		-
Total net assets	$	85,710	$	361,793	$	91,173

Fair value per share (NAV)	$	11.83	$	31.97	$	33.51
Shares outstanding in the Separate Account		7,245		11,317		2,721

⁽¹⁾Investments in mutual fund shares, at cost	$	73,516	$	306,007	$	83,362

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

(Concluded)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025


	SUBACCOUNTS
	Alger Capital Appreciation Portfolio, Class I-2			Alger Large Cap Growth Portfolio, Class I-2			Alger Mid Cap Growth Portfolio, Class I-2			Alger Small Cap Growth Portfolio, Class I-2			ALPS Alerian Energy Infrastructure Portfolio, Class III			ALPS Global Opportunity Portfolio, Class III			American Funds IS Capital World Growth and Income Fund, Class 4
INVESTMENT INCOME:
Dividend income	$	-		$	-		$	-		$	-		$	27,599		$	41,803		$	47,564

EXPENSES:
Mortality and expense risk		29,957			20,620			23,449			3,220			7,156			5,626			33,187
Investment advisory expenses		-			-			-			-			345			1,700			661
Total expenses		29,957			20,620			23,449			3,220			7,501			7,326			33,848

NET INVESTMENT INCOME (LOSS)		(29,957	)		(20,620	)		(23,449	)		(3,220	)		20,098			34,477			13,716

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		166,492			68,217			14,293			(25,078	)		179,776			35,220			31,347
Capital gain distributions		372,552			178,971			-			3,414			70,445			9,916			147,038

Net realized gain (loss) on investments		539,044			247,188			14,293			(21,664	)		250,221			45,136			178,385

Change in net unrealized appreciation (depreciation) on investments		90,137			151,557			236,883			36,907			(236,919	)		(76,483	)		620,150

Net realized and unrealized gain (loss) on investments		629,181			398,745			251,176			15,243			13,302			(31,347	)		798,535

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	599,224		$	378,125		$	227,727		$	12,023		$	33,400		$	3,130		$	812,251

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	American Funds IS Growth Fund, Class 4			American Funds IS Growth-Income Fund, Class 4			American Funds IS International Fund, Class 4			American Funds IS New World Fund, Class 4		American Funds IS Washington Mutual Investors Fund, Class 4		BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III			BlackRock Global Allocation V.I. Fund, Class III
INVESTMENT INCOME:
Dividend income	$	13,678		$	28,559		$	31,250		$	26,020	$	48,705	$	1,510		$	125,369

EXPENSES:
Mortality and expense risk		64,724			29,131			23,452			19,165		30,140		162			31,578
Investment advisory expenses		13,447			6,526			1,926			2,383		4,282		-			-
Total expenses		78,171			35,657			25,378			21,548		34,422		162			31,578

NET INVESTMENT INCOME (LOSS)		(64,493	)		(7,098	)		5,872			4,472		14,283		1,348			93,791

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		1,195,102			160,818			(9,643	)		98,122		234,548		(324	)		(167,591	)
Capital gain distributions		856,100			657,552			-			124,382		276,291		2,640			307,469

Net realized gain (loss) on investments		2,051,202			818,370			(9,643	)		222,504		510,839		2,316			139,878

Change in net unrealized appreciation (depreciation) on investments		(301,941	)		(197,636	)		649,866			477,477		65,046		5,700			306,863

Net realized and unrealized gain (loss) on investments		1,749,261			620,734			640,223			699,981		575,885		8,016			446,741

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,684,768		$	613,636		$	646,095		$	704,453	$	590,168	$	9,364		$	540,532

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	BlackRock High Yield V.I. Fund, Class III		BNY Mellon IP Technology Growth Portfolio, Service Shares			BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares			BNY Mellon VIF Appreciation Portfolio, Initial Shares			BNY Mellon VIF Appreciation Portfolio, Service Shares			BNY Mellon VIF Growth and Income Portfolio, Initial Shares			ClearBridge Variable Large Cap Growth Portfolio, Class II
INVESTMENT INCOME:
Dividend income	$	321,611	$	-		$	1,359		$	684		$	1,254		$	1,914		$	-

EXPENSES:
Mortality and expense risk		25,574		1,142			7,550			2,630			5,426			5,922			33,628
Investment advisory expenses		2,409		-			-			-			758			-			3,019
Total expenses		27,983		1,142			7,550			2,630			6,184			5,922			36,647

NET INVESTMENT INCOME (LOSS)		293,628		(1,142	)		(6,191	)		(1,946	)		(4,930	)		(4,008	)		(36,647	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		22,229		480			10,959			(1,255	)		(30,338	)		9,135			334,701
Capital gain distributions		10,561		205,001			43,435			27,788			117,147			33,670			247,819

Net realized gain (loss) on investments		32,790		205,481			54,394			26,533			86,809			42,805			582,520

Change in net unrealized appreciation (depreciation) on investments		81,342		(98,366	)		26,036			(9,141	)		(18,617	)		20,929			(302,544	)

Net realized and unrealized gain (loss) on investments		114,132		107,115			80,430			17,392			68,192			63,734			279,976

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	407,760	$	105,973		$	74,239		$	15,446		$	63,262		$	59,726		$	243,329

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	ClearBridge Variable Mid Cap Portfolio, Class II			ClearBridge Variable Small Cap Growth Portfolio, Class II			Columbia VP Select Small Cap Value Fund, Class 2			Columbia VP Seligman Global Technology Fund, Class 1			Columbia VP Seligman Global Technology Fund, Class 2			Columbia VP Small Cap Value Fund, Class 2			Columbia VP Strategic Income Fund, Class 2
INVESTMENT INCOME:
Dividend income	$	66		$	-		$	-		$	-		$	-		$	286		$	85,367

EXPENSES:
Mortality and expense risk		3,740			20,262			3,767			129,090			5,251			81			9,359
Investment advisory expenses		1,815			3,654			-			-			-			-			6,055
Total expenses		5,555			23,916			3,767			129,090			5,251			81			15,414

NET INVESTMENT INCOME (LOSS)		(5,489	)		(23,916	)		(3,767	)		(129,090	)		(5,251	)		205			69,953

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(2,621	)		(98,076	)		10,779			713,274			41,478			(38	)		(54,311	)
Capital gain distributions		42,868			172,821			-			839,615			41,952			4,926			-

Net realized gain (loss) on investments		40,247			74,745			10,779			1,552,889			83,430			4,888			(54,311	)

Change in net unrealized appreciation (depreciation) on investments		(14,406	)		117,859			6,045			1,396,984			42,990			(983	)		105,195

Net realized and unrealized gain (loss) on investments		25,841			192,604			16,824			2,949,873			126,420			3,905			50,884

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	20,352		$	168,688		$	13,057		$	2,820,783		$	121,169		$	4,110		$	120,837

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Dimensional VA Equity Allocation Portfolio, Institutional		Dimensional VA Global Bond Portfolio, Institutional			Dimensional VA Global Moderate Allocation Portfolio, Institutional		Dimensional VA International Small Portfolio, Institutional			Dimensional VA International Value Portfolio, Institutional		Dimensional VA Short-Term Fixed Portfolio, Institutional			Dimensional VA US Large Value Portfolio, Institutional
INVESTMENT INCOME:
Dividend income	$	20,310	$	1,291		$	28,879	$	10,811		$	33,692	$	27,328		$	48,697

EXPENSES:
Mortality and expense risk		5,292		169			11,401		3,952			8,889		3,441			26,128
Investment advisory expenses		-		-			16,343		-			162		366			3,101
Total expenses		5,292		169			27,744		3,952			9,051		3,807			29,229

NET INVESTMENT INCOME (LOSS)		15,018		1,122			1,135		6,859			24,641		23,521			19,468

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		2,183		(16	)		113,991		(24,818	)		67,415		16			224,187
Capital gain distributions		12,349		-			10,782		13,080			24,525		-			152,102

Net realized gain (loss) on investments		14,532		(16	)		124,773		(11,738	)		91,940		16			376,289

Change in net unrealized appreciation (depreciation) on investments		143,009		30			88,253		97,793			169,993		(766	)		(37,332	)

Net realized and unrealized gain (loss) on investments		157,541		14			213,026		86,055			261,933		(750	)		338,957

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	172,559	$	1,136		$	214,161	$	92,914		$	286,574	$	22,771		$	358,425

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Dimensional VA US Targeted Value Portfolio, Institutional			DWS Small Mid Cap Value VIP, Class B			Eaton Vance VT Floating-Rate Income Fund, Initial Class			Empower Aggressive Profile Fund, Investor Class			Empower Bond Index Fund, Investor Class			Empower Conservative Profile Fund, Class L		Empower Conservative Profile Fund, Investor Class
INVESTMENT INCOME:
Dividend income	$	14,488		$	1,770		$	229,022		$	79,686		$	325,503		$	78,273	$	211,378

EXPENSES:
Mortality and expense risk		10,511			794			20,994			30,993			51,466			41,841		55,663
Investment advisory expenses		319			-			1,524			703			13,228			2,830		17,658
Total expenses		10,830			794			22,518			31,696			64,694			44,671		73,321

NET INVESTMENT INCOME (LOSS)		3,658			976			206,504			47,990			260,809			33,602		138,057

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		30,463			(112	)		(30,092	)		(152,190	)		(329,642	)		23,984		46,164
Capital gain distributions		65,544			34,866			-			308,751			-			23,739		62,626

Net realized gain (loss) on investments		96,007			34,754			(30,092	)		156,561			(329,642	)		47,723		108,790

Change in net unrealized appreciation (depreciation) on investments		(32,785	)		17,407			(67,157	)		463,515			865,634			176,536		338,060

Net realized and unrealized gain (loss) on investments		63,222			52,161			(97,249	)		620,076			535,992			224,259		446,850

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	66,880		$	53,137		$	109,255		$	668,066		$	796,801		$	257,861	$	584,907

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Core Bond Fund, Investor Class			Empower Emerging Markets Equity Fund, Investor Class			Empower Global Bond Fund, Investor Class			Empower High Yield Bond Fund, Investor Class			Empower Inflation-Protected Securities Fund, Investor Class			Empower International Growth Fund, Investor Class			Empower International Index Fund, Investor Class
INVESTMENT INCOME:
Dividend income	$	252,323		$	3,633		$	42,365		$	25,203		$	8,917		$	-		$	211,171

EXPENSES:
Mortality and expense risk		25,276			1,455			9,170			5,765			1,908			7,674			45,832
Investment advisory expenses		18,166			464			705			-			746			-			13,967
Total expenses		43,442			1,919			9,875			5,765			2,654			7,674			59,799

NET INVESTMENT INCOME (LOSS)		208,881			1,714			32,490			19,438			6,263			(7,674	)		151,372

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(142,252	)		(30,272	)		(105,851	)		(26,122	)		(15,630	)		15,999			399,172
Capital gain distributions		-			-			-			-			-			34,629			106,038

Net realized gain (loss) on investments		(142,252	)		(30,272	)		(105,851	)		(26,122	)		(15,630	)		50,628			505,210

Change in net unrealized appreciation (depreciation) on investments		316,536			117,907			166,551			41,839			25,148			31,034			1,826,788

Net realized and unrealized gain (loss) on investments		174,284			87,635			60,700			15,717			9,518			81,662			2,331,998

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	383,165		$	89,349		$	93,190		$	35,155		$	15,781		$	73,988		$	2,483,370

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower International Value Fund, Investor Class		Empower Large Cap Growth Fund, Investor Class			Empower Large Cap Value Fund, Investor Class			Empower Lifetime 2015 Fund, Investor Class			Empower Lifetime 2020 Fund, Investor Class		Empower Lifetime 2025 Fund, Investor Class			Empower Lifetime 2030 Fund, Investor Class
INVESTMENT INCOME:
Dividend income	$	59,043	$	-		$	4,704		$	22,729		$	10,543	$	30,579		$	47,250

EXPENSES:
Mortality and expense risk		20,094		33,802			24,169			2,851			1,639		8,095			18,312
Investment advisory expenses		1,916		15,066			3,149			4,759			2,225		-			-
Total expenses		22,010		48,868			27,318			7,610			3,864		8,095			18,312

NET INVESTMENT INCOME (LOSS)		37,033		(48,868	)		(22,614	)		15,119			6,679		22,484			28,938

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		237,477		(64,100	)		152,772			(2,689	)		636		(5,906	)		60
Capital gain distributions		170,248		819,733			54,534			9,820			6,757		24,272			37,023

Net realized gain (loss) on investments		407,725		755,633			207,306			7,131			7,393		18,366			37,083

Change in net unrealized appreciation (depreciation) on investments		783,960		187,741			290,633			55,612			21,305		93,579			154,774

Net realized and unrealized gain (loss) on investments		1,191,685		943,374			497,939			62,743			28,698		111,945			191,857

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,228,718	$	894,506		$	475,325		$	77,862		$	35,377	$	134,429		$	220,795

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Lifetime 2035 Fund, Investor Class			Empower Lifetime 2040 Fund, Investor Class		Empower Lifetime 2045 Fund, Investor Class		Empower Lifetime 2050 Fund, Investor Class		Empower Lifetime 2055 Fund, Investor Class			Empower Mid Cap Value Fund, Investor Class		Empower Moderate Profile Fund, Class L
INVESTMENT INCOME:
Dividend income	$	10,908		$	9,563	$	2,274	$	12,897	$	2,234		$	94,381	$	664,362

EXPENSES:
Mortality and expense risk		3,544			4,208		806		3,781		2,071			17,710		876,973
Investment advisory expenses		-			-		-		-		1,099			1,769		39,009
Total expenses		3,544			4,208		806		3,781		3,170			19,479		915,982

NET INVESTMENT INCOME (LOSS)		7,364			5,355		1,468		9,116		(936	)		74,902		(251,620	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(19	)		805		571		2,316		4,787			14,772		2,364,480
Capital gain distributions		12,622			11,354		3,830		19,689		4,731			34,339		2,203,069

Net realized gain (loss) on investments		12,603			12,159		4,401		22,005		9,518			49,111		4,567,549

Change in net unrealized appreciation (depreciation) on investments		49,052			39,344		13,408		65,759		24,988			24,780		3,464,530

Net realized and unrealized gain (loss) on investments		61,655			51,503		17,809		87,764		34,506			73,891		8,032,079

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	69,019		$	56,858	$	19,277	$	96,880	$	33,570		$	148,793	$	7,780,459

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Moderate Profile Fund, Investor Class			Empower Moderately Aggressive Profile Fund, Investor Class			Empower Moderately Conservative Profile Fund, Class L		Empower Moderately Conservative Profile Fund, Investor Class			Empower Multi-Sector Bond Fund, Investor Class		Empower Real Estate Index Fund, Investor Class			Empower S&P 500 Index Fund, Investor Class
INVESTMENT INCOME:
Dividend income	$	918,076		$	214,255		$	193,551	$	323,620		$	139,451	$	39,680		$	249,207

EXPENSES:
Mortality and expense risk		432,219			69,615			119,187		131,598			27,093		11,040			420,505
Investment advisory expenses		17,800			505			2,830		11,312			1,855		4,705			55,381
Total expenses		450,019			70,120			122,017		142,910			28,948		15,745			475,886

NET INVESTMENT INCOME (LOSS)		468,057			144,135			71,534		180,710			110,503		23,935			(226,679	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(702,796	)		(161,453	)		69,715		(248,458	)		4,648		(26,389	)		6,485,588
Capital gain distributions		2,130,664			409,231			261,407		419,144			-		11,649			91,850

Net realized gain (loss) on investments		1,427,868			247,778			331,122		170,686			4,648		(14,740	)		6,577,438

Change in net unrealized appreciation (depreciation) on investments		2,413,341			945,364			526,647		946,798			166,068		50,491			6,510,118

Net realized and unrealized gain (loss) on investments		3,841,209			1,193,142			857,769		1,117,484			170,716		35,751			13,087,556

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	4,309,266		$	1,337,277		$	929,303	$	1,298,194		$	281,219	$	59,686		$	12,860,877

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower S&P Mid Cap 400 Index Fund, Investor Class			Empower S&P Small Cap 600 Index Fund, Investor Class			Empower SecureFoundation Balanced Fund, Class L			Empower Short Duration Bond Fund, Investor Class		Empower Small Cap Growth Fund, Investor Class			Empower Small Cap Value Fund, Investor Class			Empower T. Rowe Price Mid Cap Growth Fund, Investor Class
INVESTMENT INCOME:
Dividend income	$	173,822		$	265,303		$	4,972,609		$	118,553	$	2,364		$	-		$	-

EXPENSES:
Mortality and expense risk		76,191			72,864			1,896,629			22,064		6,495			18,514			58,375
Investment advisory expenses		6,575			8,947			42,964			2,416		78			2,619			7,558
Total expenses		82,766			81,811			1,939,593			24,480		6,573			21,133			65,933

NET INVESTMENT INCOME (LOSS)		91,056			183,492			3,033,016			94,073		(4,209	)		(21,133	)		(65,933	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		471,506			(451,123	)		(2,700,561	)		124,379		(38,842	)		83,927			496,172
Capital gain distributions		609,828			597,102			2,164,699			-		26,305			12,778			113,997

Net realized gain (loss) on investments		1,081,334			145,979			(535,862	)		124,379		(12,537	)		96,705			610,169

Change in net unrealized appreciation (depreciation) on investments		(509,017	)		144,975			15,751,289			37,611		51,144			(1,895	)		(440,575	)

Net realized and unrealized gain (loss) on investments		572,317			290,954			15,215,427			161,990		38,607			94,810			169,594

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	663,373		$	474,446		$	18,248,443		$	256,063	$	34,398		$	73,677		$	103,661

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower U.S. Government Securities Fund, Investor Class			Federated Hermes High Income Bond Fund II, Service Shares			Fidelity VIP Asset Manager 50% Portfolio, Initial Class		Fidelity VIP Balanced Portfolio, Service Class 2			Fidelity VIP Contrafund Portfolio, Initial Class			Fidelity VIP Government Money Market Portfolio, Initial Class		Fidelity VIP Growth Opportunities Portfolio, Initial Class
INVESTMENT INCOME:
Dividend income	$	37,860		$	15,181		$	24,820	$	314,806		$	1,853		$	1,088,764	$	-

EXPENSES:
Mortality and expense risk		5,994			1,662			14,662		135,488			18,909			159,835		4,623
Investment advisory expenses		19			-			-		65			-			6,972		-
Total expenses		6,013			1,662			14,662		135,553			18,909			166,807		4,623

NET INVESTMENT INCOME (LOSS)		31,847			13,519			10,158		179,253			(17,056	)		921,957		(4,623	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(33,171	)		(199	)		32,779		1,592,477			209,124			-		9,578
Capital gain distributions		-			-			55,679		1,377,680			219,710			-		5,711

Net realized gain (loss) on investments		(33,171	)		(199	)		88,458		2,970,157			428,834			-		15,289

Change in net unrealized appreciation (depreciation) on investments		70,331			3,898			30,057		(173,737	)		(154,989	)		-		56,415

Net realized and unrealized gain (loss) on investments		37,160			3,699			118,515		2,796,420			273,845			-		71,704

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	69,007		$	17,218		$	128,673	$	2,975,673		$	256,789		$	921,957	$	67,081

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Fidelity VIP Growth Portfolio, Initial Class			Fidelity VIP High Income Portfolio, Initial Class			Fidelity VIP Index 500 Portfolio, Initial Class			Fidelity VIP International Capital Appreciation Portfolio, Service Class 2			Fidelity VIP Investment Grade Bond Portfolio, Initial Class			Fidelity VIP Overseas Portfolio, Initial Class			First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I
INVESTMENT INCOME:
Dividend income	$	12,643		$	7,846		$	16,918		$	34,064		$	4,692		$	2,058		$	12,470

EXPENSES:
Mortality and expense risk		61,085			1,683			20,373			18,716			1,802			1,838			5,846
Investment advisory expenses		-			-			-			3,363			-			-			-
Total expenses		61,085			1,683			20,373			22,079			1,802			1,838			5,846

NET INVESTMENT INCOME (LOSS)		(48,442	)		6,163			(3,455	)		11,985			2,890			220			6,624

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		229,549			(586	)		73,845			(10,394	)		(1,554	)		10,715			14,799
Capital gain distributions		562,272			-			7,623			12,847			-			11,291			30,479

Net realized gain (loss) on investments		791,821			(586	)		81,468			2,453			(1,554	)		22,006			45,278

Change in net unrealized appreciation (depreciation) on investments		(175,409	)		4,628			145,820			614,338			5,990			(1,249	)		(30,065	)

Net realized and unrealized gain (loss) on investments		616,412			4,042			227,288			616,791			4,436			20,757			15,213

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	567,970		$	10,205		$	223,833		$	628,776		$	7,326		$	20,977		$	21,837

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Franklin Income VIP Fund, Class 4			Goldman Sachs VIT Large Cap Value Fund, Institutional Class			Goldman Sachs VIT Multi-Strategy Alternatives Portfolio			Goldman Sachs VIT Strategic Growth Fund, Institutional Class			Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class			Goldman Sachs VIT U.S. Equity Insights Fund, Service Class			Invesco V.I. Core Equity Fund, Series II
INVESTMENT INCOME:
Dividend income	$	198,680		$	3,363		$	-		$	-		$	499		$	5,976		$	478

EXPENSES:
Mortality and expense risk		41,652			4,116			848			398			897			12,574			1,689
Investment advisory expenses		1,601			-			-			-			-			85			-
Total expenses		43,253			4,116			848			398			897			12,659			1,689

NET INVESTMENT INCOME (LOSS)		155,427			(753	)		(848	)		(398	)		(398	)		(6,683	)		(1,211	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(138,758	)		(1,132	)		(9,727	)		1,694			426			48,014			(2,556	)
Capital gain distributions		42,529			41,834			-			2,468			9,448			163,250			8,750

Net realized gain (loss) on investments		(96,229	)		40,702			(9,727	)		4,162			9,874			211,264			6,194

Change in net unrealized appreciation (depreciation) on investments		385,028			(12,972	)		7,277			1,251			(31	)		(30,358	)		17,215

Net realized and unrealized gain (loss) on investments		288,799			27,730			(2,450	)		5,413			9,843			180,906			23,409

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	444,226		$	26,977		$	(3,298	)	$	5,015		$	9,445		$	174,223		$	22,198

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Invesco V.I. Core Plus Bond Fund, Series II			Invesco V.I. EQV International Equity Fund, Series II			Invesco V.I. Global Real Estate Fund, Series II			Invesco V.I. Growth and Income Fund, Series II			Invesco V.I. International Growth Fund, Series II			Invesco V.I. Main Street Small Cap Fund, Series II			Invesco V.I. Small Cap Equity Fund, Series II
INVESTMENT INCOME:
Dividend income	$	8,678		$	4,777		$	6,613		$	32,819		$	217		$	3,743		$	-

EXPENSES:
Mortality and expense risk		2,608			3,617			2,966			23,043			4,531			14,669			465
Investment advisory expenses		-			353			646			1,655			-			1,956			-
Total expenses		2,608			3,970			3,612			24,698			4,531			16,625			465

NET INVESTMENT INCOME (LOSS)		6,070			807			3,001			8,121			(4,314	)		(12,882	)		(465	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(1,898	)		(426	)		(9,515	)		(63,425	)		(15,213	)		7,825			621
Capital gain distributions		-			26,066			-			213,625			32,230			166,418			5,172

Net realized gain (loss) on investments		(1,898	)		25,640			(9,515	)		150,200			17,017			174,243			5,793

Change in net unrealized appreciation (depreciation) on investments		10,179			55,805			36,447			230,399			39,880			(44,919	)		2,217

Net realized and unrealized gain (loss) on investments		8,281			81,445			26,932			380,599			56,897			129,324			8,010

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	14,351		$	82,252		$	29,933		$	388,720		$	52,583		$	116,442		$	7,545

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Janus Henderson VIT Balanced Portfolio, Service Shares		Janus Henderson VIT Enterprise Portfolio, Service Shares			Janus Henderson VIT Flexible Bond Portfolio, Service Shares			Janus Henderson VIT Mid Cap Value Portfolio, Service Shares			Janus Henderson VIT Overseas Portfolio, Institutional Shares		Janus Henderson VIT Overseas Portfolio, Service Shares		Lord Abbett Series Fund Developing Growth Portfolio, Class VC
INVESTMENT INCOME:
Dividend income	$	241,330	$	2,608		$	59,360		$	1,032		$	1,267	$	480	$	448

EXPENSES:
Mortality and expense risk		92,548		28,670			8,729			486			1,189		129		2,418
Investment advisory expenses		7,724		4,556			3,100			-			-		-		-
Total expenses		100,272		33,226			11,829			486			1,189		129		2,418

NET INVESTMENT INCOME (LOSS)		141,058		(30,618	)		47,531			546			78		351		(1,970	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		669,753		(64,327	)		(41,603	)		22			506		550		3,095
Capital gain distributions		434,524		464,806			-			15,139			-		-		-

Net realized gain (loss) on investments		1,104,277		400,479			(41,603	)		15,161			506		550		3,095

Change in net unrealized appreciation (depreciation) on investments		629,178		(51,578	)		75,455			(6,824	)		20,373		8,000		29,316

Net realized and unrealized gain (loss) on investments		1,733,455		348,901			33,852			8,337			20,879		8,550		32,411

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,874,513	$	318,283		$	81,383		$	8,883		$	20,957	$	8,901	$	30,441

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	LVIP American Century Inflation Protection Fund, Service Class			LVIP American Century Mid Cap Value Fund, Service Class			LVIP American Century Value Fund, Service Class			LVIP JPMorgan Small Cap Core Fund, Service Class			LVIP Nomura U.S. REIT Fund, Service Class			MFS VIT II Blended Research Core Equity Portfolio, Service Class			MFS VIT II International Growth Portfolio, Service Class
INVESTMENT INCOME:
Dividend income	$	23,061		$	50,996		$	65,972		$	1,250		$	5,915		$	22,686		$	1,821

EXPENSES:
Mortality and expense risk		1,290			24,918			43,269			1,422			2,262			16,284			899
Investment advisory expenses		128			4,216			924			-			177			5,101			1,816
Total expenses		1,418			29,134			44,193			1,422			2,439			21,385			2,715

NET INVESTMENT INCOME (LOSS)		21,643			21,862			21,779			(172	)		3,476			1,301			(894	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(32,217	)		(66,794	)		(59,442	)		(4,973	)		6,385			2,442			10,197
Capital gain distributions		-			273,031			347,634			23,646			-			536,985			13,500

Net realized gain (loss) on investments		(32,217	)		206,237			288,192			18,673			6,385			539,427			23,697

Change in net unrealized appreciation (depreciation) on investments		28,024			35,948			325,121			7,051			(9,691	)		(134,283	)		24,644

Net realized and unrealized gain (loss) on investments		(4,193	)		242,185			613,313			25,724			(3,306	)		405,144			48,341

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	17,450		$	264,047		$	635,092		$	25,552		$	170		$	406,445		$	47,447

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	MFS VIT II Technology Portfolio, Service Class			MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class			Neuberger Berman AMT Quality Equity Portfolio, Class S			Nomura VIP Emerging Markets Series, Service Class		Nomura VIP Energy Series, Service Class			Nomura VIP International Core Equity Series, Service Class			Nomura VIP Small Cap Value Series, Service Class
INVESTMENT INCOME:
Dividend income	$	-		$	14,485		$	-		$	15,022	$	11,282		$	520		$	13,587

EXPENSES:
Mortality and expense risk		76,981			6,188			10,139			9,740		5,987			1,326			10,445
Investment advisory expenses		9,971			1,932			895			1,340		5,315			28			1,776
Total expenses		86,952			8,120			11,034			11,080		11,302			1,354			12,221

NET INVESTMENT INCOME (LOSS)		(86,952	)		6,365			(11,034	)		3,942		(20	)		(834	)		1,366

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		1,606,760			(174,487	)		133,526			20,308		(32,269	)		8,258			2,237
Capital gain distributions		1,581,049			191,605			53,372			2,555		-			6,372			89,775

Net realized gain (loss) on investments		3,187,809			17,118			186,898			22,863		(32,269	)		14,630			92,012

Change in net unrealized appreciation (depreciation) on investments		(1,560,928	)		62,343			(47,497	)		747,289		147,440			12,512			(12,021	)

Net realized and unrealized gain (loss) on investments		1,626,881			79,461			139,401			770,152		115,171			27,142			79,991

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,539,929		$	85,826		$	128,367		$	774,094	$	115,151		$	26,308		$	81,357

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	NVIT Fidelity Institutional AM Emerging Markets Fund, Class D			PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class			PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class			PIMCO VIT Low Duration Portfolio, Advisor Class			PIMCO VIT Real Return Portfolio, Advisor Class			PIMCO VIT Short-Term Portfolio, Advisor Class			PIMCO VIT Total Return Portfolio, Advisor Class
INVESTMENT INCOME:
Dividend income	$	153		$	33,881		$	19,610		$	124,015		$	41,438		$	112,582		$	458,420

EXPENSES:
Mortality and expense risk		690			4,984			4,247			22,387			5,622			15,399			41,505
Investment advisory expenses		-			2,193			-			3,012			174			936			12,596
Total expenses		690			7,177			4,247			25,399			5,796			16,335			54,101

NET INVESTMENT INCOME (LOSS)		(537	)		26,704			15,363			98,616			35,642			96,247			404,319

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		432			(71,290	)		(82,654	)		(9,307	)		(11,073	)		34,285			(334,517	)
Capital gain distributions		-			-			-			-			-			-			-

Net realized gain (loss) on investments		432			(71,290	)		(82,654	)		(9,307	)		(11,073	)		34,285			(334,517	)

Change in net unrealized appreciation (depreciation) on investments		14,602			251,418			27,922			55,179			66,149			(31,775	)		831,067

Net realized and unrealized gain (loss) on investments		15,034			180,128			(54,732	)		45,872			55,076			2,510			496,550

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	14,497		$	206,832		$	(39,369	)	$	144,488		$	90,718		$	98,757		$	900,869

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Putnam VT Core Equity Fund, Class IB			Putnam VT Emerging Markets Equity Fund, Class IB			Putnam VT Focused International Equity Fund, Class IB		Putnam VT Global Asset Allocation Fund, Class IB			Putnam VT Income Fund, Class IB			Putnam VT International Equity Fund, Class IB			Putnam VT International Value Fund, Class IB
INVESTMENT INCOME:
Dividend income	$	6,308		$	297		$	18,535	$	25,573		$	66,686		$	36		$	1,734

EXPENSES:
Mortality and expense risk		7,879			551			6,481		12,992			5,337			3,165			1,632
Investment advisory expenses		4,877			-			-		-			2,141			142			-
Total expenses		12,756			551			6,481		12,992			7,478			3,307			1,632

NET INVESTMENT INCOME (LOSS)		(6,448	)		(254	)		12,054		12,581			59,208			(3,271	)		102

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		55,304			96			32,285		6,503			(54,807	)		20,355			10,954
Capital gain distributions		132,199			-			-		137,937			-			19,811			1,216

Net realized gain (loss) on investments		187,503			96			32,285		144,440			(54,807	)		40,166			12,170

Change in net unrealized appreciation (depreciation) on investments		59,458			13,203			120,106		(17,602	)		85,318			63,795			32,221

Net realized and unrealized gain (loss) on investments		246,961			13,299			152,391		126,838			30,511			103,961			44,391

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	240,513		$	13,045		$	164,445	$	139,419		$	89,719		$	100,690		$	44,493

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Putnam VT Large Cap Growth Fund, Class IB			Putnam VT Large Cap Value Fund, Class IB		Putnam VT Mortgage Securities Fund, Class IB			Putnam VT Research Fund, Class IB			Putnam VT Small Cap Growth Fund, Class IB			Putnam VT Small Cap Value Fund, Class IB			T. Rowe Price Blue Chip Growth Portfolio, Class II
INVESTMENT INCOME:
Dividend income	$	-		$	13,838	$	10,221		$	3,231		$	851		$	3,033		$	-

EXPENSES:
Mortality and expense risk		54,750			10,353		361			4,002			1,950			3,024			212,223
Investment advisory expenses		12,079			271		386			-			-			422			12,811
Total expenses		66,829			10,624		747			4,002			1,950			3,446			225,034

NET INVESTMENT INCOME (LOSS)		(66,829	)		3,214		9,474			(771	)		(1,099	)		(413	)		(225,034	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		607,053			7,025		(2,422	)		162,069			11,392			322			2,913,553
Capital gain distributions		765,206			66,196		-			34,574			14,779			41,504			2,661,645

Net realized gain (loss) on investments		1,372,259			73,221		(2,422	)		196,643			26,171			41,826			5,575,198

Change in net unrealized appreciation (depreciation) on investments		(280,844	)		100,019		2,422			(133,965	)		(23,004	)		(18,133	)		(640,150	)

Net realized and unrealized gain (loss) on investments		1,091,415			173,240		-			62,678			3,167			23,693			4,935,048

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	1,024,586		$	176,454	$	9,474		$	61,907		$	2,068		$	23,280		$	4,710,014

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	T. Rowe Price Health Sciences Portfolio, Class II			VanEck VIP Emerging Markets Fund, Initial Class			VanEck VIP Global Resources Fund, Class S			VanEck VIP Global Resources Fund, Initial Class
INVESTMENT INCOME:
Dividend income	$	-		$	436		$	7,281		$	425

EXPENSES:
Mortality and expense risk		41,008			840			2,677			766
Investment advisory expenses		3,598			-			662			-
Total expenses		44,606			840			3,339			766

NET INVESTMENT INCOME (LOSS)		(44,606	)		(404	)		3,942			(341	)

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on redemption of investments		(227,362	)		421			(7,632	)		(89	)
Capital gain distributions		179,451			-			-			-

Net realized gain (loss) on investments		(47,911	)		421			(7,632	)		(89	)

Change in net unrealized appreciation (depreciation) on investments		816,258			14,066			108,882			14,775

Net realized and unrealized gain (loss) on investments		768,347			14,487			101,250			14,686

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$	723,741		$	14,083		$	105,192		$	14,345

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Concluded)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Alger Capital Appreciation Portfolio, Class I-2			Alger Large Cap Growth Portfolio, Class I-2			Alger Mid Cap Growth Portfolio, Class I-2			Alger Small Cap Growth Portfolio, Class I-2			ALPS Alerian Energy Infrastructure Portfolio, Class III			ALPS Global Opportunity Portfolio, Class III			American Funds IS Capital World Growth and Income Fund, Class 4
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(29,957	)	$	(20,620	)	$	(23,449	)	$	(3,220	)	$	20,098		$	34,477		$	13,716
Net realized gain (loss) on investments		539,044			247,188			14,293			(21,664	)		250,221			45,136			178,385
Change in net unrealized appreciation (depreciation) on investments		90,137			151,557			236,883			36,907			(236,919	)		(76,483	)		620,150

Net increase (decrease) in net assets resulting from operations		599,224			378,125			227,727			12,023			33,400			3,130			812,251

CONTRACT TRANSACTIONS:
Contract owners’ net payments		3,400			6,400			-			1,000			-			240			980
Contract maintenance charges		(207	)		(234	)		(140	)		(58	)		-			-			-
Contract owners’ benefits		(202,329	)		(75,167	)		(154,717	)		(7,816	)		(295,895	)		(128,922	)		(452,866	)
Net transfers (to) from the Company and/or Subaccounts		(76,004	)		(75,972	)		(10,878	)		(5,877	)		(83,701	)		2,004			(111,666	)

Increase (decrease) in net assets resulting from Contract transactions		(275,140	)		(144,973	)		(165,735	)		(12,751	)		(379,596	)		(126,678	)		(563,552	)

Total increase (decrease) in net assets		324,084			233,152			61,992			(728	)		(346,196	)		(123,548	)		248,699

NET ASSETS:
Beginning of period		2,042,200			1,429,806			1,666,119			294,469			961,139			773,706			3,839,636

End of period	$	2,366,284		$	1,662,958		$	1,728,111		$	293,741		$	614,943		$	650,158		$	4,088,335

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	American Funds IS Growth Fund, Class 4			American Funds IS Growth-Income Fund, Class 4			American Funds IS International Fund, Class 4			American Funds IS New World Fund, Class 4			American Funds IS Washington Mutual Investors Fund, Class 4			BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III		BlackRock Global Allocation V.I. Fund, Class III
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(64,493	)	$	(7,098	)	$	5,872		$	4,472		$	14,283		$	1,348	$	93,791
Net realized gain (loss) on investments		2,051,202			818,370			(9,643	)		222,504			510,839			2,316		139,878
Change in net unrealized appreciation (depreciation) on investments		(301,941	)		(197,636	)		649,866			477,477			65,046			5,700		306,863

Net increase (decrease) in net assets resulting from operations		1,684,768			613,636			646,095			704,453			590,168			9,364		540,532

CONTRACT TRANSACTIONS:
Contract owners’ net payments		10,000			-			-			8,978			-			-		21,474
Contract maintenance charges		-			-			-			-			-			-		-
Contract owners’ benefits		(1,912,812	)		(454,256	)		(372,303	)		(443,386	)		(474,962	)		-		(756,013	)
Net transfers (to) from the Company and/or Subaccounts		1,343,175			94,180			(118,727	)		(68,106	)		26,334			55,850		(66,987	)

Increase (decrease) in net assets resulting from Contract transactions		(559,637	)		(360,076	)		(491,030	)		(502,514	)		(448,628	)		55,850		(801,526	)

Total increase (decrease) in net assets		1,125,131			253,560			155,065			201,939			141,540			65,214		(260,994	)

NET ASSETS:
Beginning of period		11,347,773			3,902,090			2,763,654			2,872,287			3,894,582			6,254		3,441,843

End of period	$	12,472,904		$	4,155,650		$	2,918,719		$	3,074,226		$	4,036,122		$	71,468	$	3,180,849

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	BlackRock High Yield V.I. Fund, Class III			BNY Mellon IP Technology Growth Portfolio, Service Shares			BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares			BNY Mellon VIF Appreciation Portfolio, Initial Shares			BNY Mellon VIF Appreciation Portfolio, Service Shares			BNY Mellon VIF Growth and Income Portfolio, Initial Shares			ClearBridge Variable Large Cap Growth Portfolio, Class II
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	293,628		$	(1,142	)	$	(6,191	)	$	(1,946	)	$	(4,930	)	$	(4,008	)	$	(36,647	)
Net realized gain (loss) on investments		32,790			205,481			54,394			26,533			86,809			42,805			582,520
Change in net unrealized appreciation (depreciation) on investments		81,342			(98,366	)		26,036			(9,141	)		(18,617	)		20,929			(302,544	)

Net increase (decrease) in net assets resulting from operations		407,760			105,973			74,239			15,446			63,262			59,726			243,329

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			-			-			-			2,030
Contract maintenance charges		-			-			(22	)		(23	)		-			(94	)		-
Contract owners’ benefits		(1,658,811	)		(7,632	)		(12,230	)		(8,099	)		(12,453	)		(32,142	)		(588,044	)
Net transfers (to) from the Company and/or Subaccounts		519,678			(1	)		(6,318	)		16			(216,329	)		(9	)		(350,388	)

Increase (decrease) in net assets resulting from Contract transactions		(1,139,133	)		(7,633	)		(18,570	)		(8,106	)		(228,782	)		(32,245	)		(936,402	)

Total increase (decrease) in net assets		(731,373	)		98,340			55,669			7,340			(165,520	)		27,481			(693,073	)

NET ASSETS:
Beginning of period		5,644,417			388,939			520,488			188,662			753,552			421,042			4,254,267

End of period	$	4,913,044		$	487,279		$	576,157		$	196,002		$	588,032		$	448,523		$	3,561,194

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	ClearBridge Variable Mid Cap Portfolio, Class II			ClearBridge Variable Small Cap Growth Portfolio, Class II			Columbia VP Select Small Cap Value Fund, Class 2			Columbia VP Seligman Global Technology Fund, Class 1			Columbia VP Seligman Global Technology Fund, Class 2			Columbia VP Small Cap Value Fund, Class 2			Columbia VP Strategic Income Fund, Class 2
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(5,489	)	$	(23,916	)	$	(3,767	)	$	(129,090	)	$	(5,251	)	$	205		$	69,953
Net realized gain (loss) on investments		40,247			74,745			10,779			1,552,889			83,430			4,888			(54,311	)
Change in net unrealized appreciation (depreciation) on investments		(14,406	)		117,859			6,045			1,396,984			42,990			(983	)		105,195

Net increase (decrease) in net assets resulting from operations		20,352			168,688			13,057			2,820,783			121,169			4,110			120,837

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			2,510			335			1,000			-			-			-
Contract maintenance charges		-			-			(35	)		(678	)		-			-			-
Contract owners’ benefits		(60,264	)		(368,175	)		(13,608	)		(1,051,916	)		(12,509	)		-			(209,340	)
Net transfers (to) from the Company and/or Subaccounts		(13,114	)		(78,365	)		8,743			(282,578	)		(76,582	)		1			120,023

Increase (decrease) in net assets resulting from Contract transactions		(73,378	)		(444,030	)		(4,565	)		(1,334,172	)		(89,091	)		1			(89,317	)

Total increase (decrease) in net assets		(53,026	)		(275,342	)		8,492			1,486,611			32,078			4,111			31,520

NET ASSETS:
Beginning of period		691,345			2,510,900			277,726			8,796,854			366,413			28,653			1,996,757

End of period	$	638,319		$	2,235,558		$	286,218		$	10,283,465		$	398,491		$	32,764		$	2,028,277

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Dimensional VA Equity Allocation Portfolio, Institutional			Dimensional VA Global Bond Portfolio, Institutional			Dimensional VA Global Moderate Allocation Portfolio, Institutional			Dimensional VA International Small Portfolio, Institutional			Dimensional VA International Value Portfolio, Institutional			Dimensional VA Short-Term Fixed Portfolio, Institutional			Dimensional VA US Large Value Portfolio, Institutional
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	15,018		$	1,122		$	1,135		$	6,859		$	24,641		$	23,521		$	19,468
Net realized gain (loss) on investments		14,532			(16	)		124,773			(11,738	)		91,940			16			376,289
Change in net unrealized appreciation (depreciation) on investments		143,009			30			88,253			97,793			169,993			(766	)		(37,332	)

Net increase (decrease) in net assets resulting from operations		172,559			1,136			214,161			92,914			286,574			22,771			358,425

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			-			120			-			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(293	)		-			(38,220	)		(195,891	)		(366,620	)		(1,153	)		(791,529	)
Net transfers (to) from the Company and/or Subaccounts		(813	)		973			(969,071	)		(39,121	)		(30,129	)		110,791			96,823

Increase (decrease) in net assets resulting from Contract transactions		(1,106	)		973			(1,007,291	)		(235,012	)		(396,629	)		109,638			(694,706	)

Total increase (decrease) in net assets		171,453			2,109			(793,130	)		(142,098	)		(110,055	)		132,409			(336,281	)

NET ASSETS:
Beginning of period		895,432			29,728			1,971,971			495,079			989,450			526,766			2,968,187

End of period	$	1,066,885		$	31,837		$	1,178,841		$	352,981		$	879,395		$	659,175		$	2,631,906

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Dimensional VA US Targeted Value Portfolio, Institutional			DWS Small Mid Cap Value VIP, Class B			Eaton Vance VT Floating-Rate Income Fund, Initial Class			Empower Aggressive Profile Fund, Investor Class			Empower Bond Index Fund, Investor Class			Empower Conservative Profile Fund, Class L			Empower Conservative Profile Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	3,658		$	976		$	206,504		$	47,990		$	260,809		$	33,602		$	138,057
Net realized gain (loss) on investments		96,007			34,754			(30,092	)		156,561			(329,642	)		47,723			108,790
Change in net unrealized appreciation (depreciation) on investments		(32,785	)		17,407			(67,157	)		463,515			865,634			176,536			338,060

Net increase (decrease) in net assets resulting from operations		66,880			53,137			109,255			668,066			796,801			257,861			584,907

CONTRACT TRANSACTIONS:
Contract owners’ net payments		60			-			38,570			480			28,982			-			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(365,836	)		-			(917,705	)		(586,089	)		(2,119,937	)		(1,227,658	)		(591,004	)
Net transfers (to) from the Company and/or Subaccounts		28,885			(3	)		(55,583	)		(271,531	)		(968,933	)		1,100,284			(81,213	)

Increase (decrease) in net assets resulting from Contract transactions		(336,891	)		(3	)		(934,718	)		(857,140	)		(3,059,888	)		(127,374	)		(672,217	)

Total increase (decrease) in net assets		(270,011	)		53,134			(825,463	)		(189,074	)		(2,263,087	)		130,487			(87,310	)

NET ASSETS:
Beginning of period		1,104,571			302,767			4,040,354			4,634,793			14,260,911			3,664,815			8,269,674

End of period	$	834,560		$	355,901		$	3,214,891		$	4,445,719		$	11,997,824		$	3,795,302		$	8,182,364

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Core Bond Fund, Investor Class			Empower Emerging Markets Equity Fund, Investor Class			Empower Global Bond Fund, Investor Class			Empower High Yield Bond Fund, Investor Class			Empower Inflation-Protected Securities Fund, Investor Class			Empower International Growth Fund, Investor Class			Empower International Index Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	208,881		$	1,714		$	32,490		$	19,438		$	6,263		$	(7,674	)	$	151,372
Net realized gain (loss) on investments		(142,252	)		(30,272	)		(105,851	)		(26,122	)		(15,630	)		50,628			505,210
Change in net unrealized appreciation (depreciation) on investments		316,536			117,907			166,551			41,839			25,148			31,034			1,826,788

Net increase (decrease) in net assets resulting from operations		383,165			89,349			93,190			35,155			15,781			73,988			2,483,370

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			51,106			-			-			1,200			11,521
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(507,862	)		(184,192	)		(344,818	)		(319,374	)		(82,316	)		(125,184	)		(835,314	)
Net transfers (to) from the Company and/or Subaccounts		3,327,402			(40,909	)		(110,945	)		(25,757	)		(14,459	)		(13,060	)		(2,319,130	)

Increase (decrease) in net assets resulting from Contract transactions		2,819,540			(225,101	)		(404,657	)		(345,131	)		(96,775	)		(137,044	)		(3,142,923	)

Total increase (decrease) in net assets		3,202,705			(135,752	)		(311,467	)		(309,976	)		(80,994	)		(63,056	)		(659,553	)

NET ASSETS:
Beginning of period		6,180,541			502,200			1,723,734			871,762			336,156			767,694			10,464,480

End of period	$	9,383,246		$	366,448		$	1,412,267		$	561,786		$	255,162		$	704,638		$	9,804,927

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower International Value Fund, Investor Class			Empower Large Cap Growth Fund, Investor Class			Empower Large Cap Value Fund, Investor Class			Empower Lifetime 2015 Fund, Investor Class			Empower Lifetime 2020 Fund, Investor Class			Empower Lifetime 2025 Fund, Investor Class			Empower Lifetime 2030 Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	37,033		$	(48,868	)	$	(22,614	)	$	15,119		$	6,679		$	22,484		$	28,938
Net realized gain (loss) on investments		407,725			755,633			207,306			7,131			7,393			18,366			37,083
Change in net unrealized appreciation (depreciation) on investments		783,960			187,741			290,633			55,612			21,305			93,579			154,774

Net increase (decrease) in net assets resulting from operations		1,228,718			894,506			475,325			77,862			35,377			134,429			220,795

CONTRACT TRANSACTIONS:
Contract owners’ net payments		17,215			-			2,840			-			-			-			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(374,582	)		(595,242	)		(607,235	)		(34,000	)		(11,446	)		(40,000	)		(168,797	)
Net transfers (to) from the Company and/or Subaccounts		(117,895	)		2,992			(96,875	)		(27	)		174			499			1

Increase (decrease) in net assets resulting from Contract transactions		(475,262	)		(592,250	)		(701,270	)		(34,027	)		(11,272	)		(39,501	)		(168,796	)

Total increase (decrease) in net assets		753,456			302,256			(225,945	)		43,835			24,105			94,928			51,999

NET ASSETS:
Beginning of period		3,300,418			6,652,908			3,518,811			873,552			379,351			1,243,794			1,867,183

End of period	$	4,053,874		$	6,955,164		$	3,292,866		$	917,387		$	403,456		$	1,338,722		$	1,919,182

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Lifetime 2035 Fund, Investor Class			Empower Lifetime 2040 Fund, Investor Class			Empower Lifetime 2045 Fund, Investor Class			Empower Lifetime 2050 Fund, Investor Class			Empower Lifetime 2055 Fund, Investor Class			Empower Mid Cap Value Fund, Investor Class			Empower Moderate Profile Fund, Class L
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	7,364		$	5,355		$	1,468		$	9,116		$	(936	)	$	74,902		$	(251,620	)
Net realized gain (loss) on investments		12,603			12,159			4,401			22,005			9,518			49,111			4,567,549
Change in net unrealized appreciation (depreciation) on investments		49,052			39,344			13,408			65,759			24,988			24,780			3,464,530

Net increase (decrease) in net assets resulting from operations		69,019			56,858			19,277			96,880			33,570			148,793			7,780,459

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			-			-			-			3,000
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(2,466	)		(789	)		(9,897	)		(26,747	)		(20,290	)		(285,301	)		(17,286,510	)
Net transfers (to) from the Company and/or Subaccounts		(3,397	)		(719	)		-			(674	)		(885	)		125,962			(3,124,572	)

Increase (decrease) in net assets resulting from Contract transactions		(5,863	)		(1,508	)		(9,897	)		(27,421	)		(21,175	)		(159,339	)		(20,408,082	)

Total increase (decrease) in net assets		63,156			55,350			9,380			69,459			12,395			(10,546	)		(12,627,623	)

NET ASSETS:
Beginning of period		510,875			392,487			129,849			594,027			216,514			2,199,407			85,494,345

End of period	$	574,031		$	447,837		$	139,229		$	663,486		$	228,909		$	2,188,861		$	72,866,722

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower Moderate Profile Fund, Investor Class			Empower Moderately Aggressive Profile Fund, Investor Class			Empower Moderately Conservative Profile Fund, Class L			Empower Moderately Conservative Profile Fund, Investor Class			Empower Multi-Sector Bond Fund, Investor Class			Empower Real Estate Index Fund, Investor Class			Empower S&P 500 Index Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	468,057		$	144,135		$	71,534		$	180,710		$	110,503		$	23,935		$	(226,679	)
Net realized gain (loss) on investments		1,427,868			247,778			331,122			170,686			4,648			(14,740	)		6,577,438
Change in net unrealized appreciation (depreciation) on investments		2,413,341			945,364			526,647			946,798			166,068			50,491			6,510,118

Net increase (decrease) in net assets resulting from operations		4,309,266			1,337,277			929,303			1,298,194			281,219			59,686			12,860,877

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			-			900			11,521			17,821
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(6,223,573	)		(1,016,282	)		(3,299,700	)		(2,675,211	)		(443,077	)		(227,044	)		(8,435,005	)
Net transfers (to) from the Company and/or Subaccounts		(1,115,797	)		(545,656	)		428,827			(455,244	)		611,591			10,634			(2,017,772	)

Increase (decrease) in net assets resulting from Contract transactions		(7,339,370	)		(1,561,938	)		(2,870,873	)		(3,130,455	)		169,414			(204,889	)		(10,434,956	)

Total increase (decrease) in net assets		(3,030,104	)		(224,661	)		(1,941,570	)		(1,832,261	)		450,633			(145,203	)		2,425,921

NET ASSETS:
Beginning of period		44,524,556			10,821,911			12,223,214			16,024,948			3,913,850			2,680,334			86,771,307

End of period	$	41,494,452		$	10,597,250		$	10,281,644		$	14,192,687		$	4,364,483		$	2,535,131		$	89,197,228

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower S&P Mid Cap 400 Index Fund, Investor Class			Empower S&P Small Cap 600 Index Fund, Investor Class			Empower SecureFoundation Balanced Fund, Class L			Empower Short Duration Bond Fund, Investor Class			Empower Small Cap Growth Fund, Investor Class			Empower Small Cap Value Fund, Investor Class			Empower T. Rowe Price Mid Cap Growth Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	91,056		$	183,492		$	3,033,016		$	94,073		$	(4,209	)	$	(21,133	)	$	(65,933	)
Net realized gain (loss) on investments		1,081,334			145,979			(535,862	)		124,379			(12,537	)		96,705			610,169
Change in net unrealized appreciation (depreciation) on investments		(509,017	)		144,975			15,751,289			37,611			51,144			(1,895	)		(440,575	)

Net increase (decrease) in net assets resulting from operations		663,373			474,446			18,248,443			256,063			34,398			73,677			103,661

CONTRACT TRANSACTIONS:
Contract owners’ net payments		11,701			11,941			8,000			-			-			1,200			820
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(1,144,228	)		(1,283,921	)		(31,020,103	)		(1,061,615	)		(104,573	)		(166,109	)		(1,245,498	)
Net transfers (to) from the Company and/or Subaccounts		112,067			(574,606	)		(7,998,805	)		(1,390,361	)		(54,173	)		(156,481	)		(568,722	)

Increase (decrease) in net assets resulting from Contract transactions		(1,020,460	)		(1,846,586	)		(39,010,908	)		(2,451,976	)		(158,746	)		(321,390	)		(1,813,400	)

Total increase (decrease) in net assets		(357,087	)		(1,372,140	)		(20,762,465	)		(2,195,913	)		(124,348	)		(247,713	)		(1,709,739	)

NET ASSETS:
Beginning of period		12,830,495			13,499,001			181,298,880			6,057,649			734,345			2,951,781			8,394,850

End of period	$	12,473,408		$	12,126,861		$	160,536,415		$	3,861,736		$	609,997		$	2,704,068		$	6,685,111

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Empower U.S. Government Securities Fund, Investor Class			Federated Hermes High Income Bond Fund II, Service Shares			Fidelity VIP Asset Manager 50% Portfolio, Initial Class			Fidelity VIP Balanced Portfolio, Service Class 2			Fidelity VIP Contrafund Portfolio, Initial Class			Fidelity VIP Government Money Market Portfolio, Initial Class			Fidelity VIP Growth Opportunities Portfolio, Initial Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	31,847		$	13,519		$	10,158		$	179,253		$	(17,056	)	$	921,957		$	(4,623	)
Net realized gain (loss) on investments		(33,171	)		(199	)		88,458			2,970,157			428,834			-			15,289
Change in net unrealized appreciation (depreciation) on investments		70,331			3,898			30,057			(173,737	)		(154,989	)		-			56,415

Net increase (decrease) in net assets resulting from operations		69,007			17,218			128,673			2,975,673			256,789			921,957			67,081

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			51,666			503			-			3,735			14,000			-
Contract maintenance charges		-			-			(227	)		-			(254	)		(146	)		(36	)
Contract owners’ benefits		(99,307	)		(31,365	)		(286,327	)		(1,922,524	)		(188,133	)		(35,399,048	)		(18,112	)
Net transfers (to) from the Company and/or Subaccounts		289,352			(75,363	)		(50	)		(7,414,466	)		(149,539	)		26,396,540			(12,185	)

Increase (decrease) in net assets resulting from Contract transactions		190,045			(55,062	)		(286,101	)		(9,336,990	)		(334,191	)		(8,988,654	)		(30,333	)

Total increase (decrease) in net assets		259,052			(37,844	)		(157,428	)		(6,361,317	)		(77,402	)		(8,066,697	)		36,748

NET ASSETS:
Beginning of period		1,212,027			283,782			1,187,607			26,317,185			1,497,497			30,851,782			349,241

End of period	$	1,471,079		$	245,938		$	1,030,179		$	19,955,868		$	1,420,095		$	22,785,085		$	385,989

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Fidelity VIP Growth Portfolio, Initial Class			Fidelity VIP High Income Portfolio, Initial Class			Fidelity VIP Index 500 Portfolio, Initial Class			Fidelity VIP International Capital Appreciation Portfolio, Service Class 2			Fidelity VIP Investment Grade Bond Portfolio, Initial Class			Fidelity VIP Overseas Portfolio, Initial Class			First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(48,442	)	$	6,163		$	(3,455	)	$	11,985		$	2,890		$	220		$	6,624
Net realized gain (loss) on investments		791,821			(586	)		81,468			2,453			(1,554	)		22,006			45,278
Change in net unrealized appreciation (depreciation) on investments		(175,409	)		4,628			145,820			614,338			5,990			(1,249	)		(30,065	)

Net increase (decrease) in net assets resulting from operations		567,970			10,205			223,833			628,776			7,326			20,977			21,837

CONTRACT TRANSACTIONS:
Contract owners’ net payments		1,600			-			-			-			1,503			-			-
Contract maintenance charges		(377	)		(17	)		(83	)		-			(61	)		(18	)		-
Contract owners’ benefits		(162,665	)		(3,526	)		(46,768	)		(251,048	)		(6,543	)		(10,907	)		(126,438	)
Net transfers (to) from the Company and/or Subaccounts		(205,147	)		1			(35,971	)		2,081,090			-			45,139			(2,323	)

Increase (decrease) in net assets resulting from Contract transactions		(366,589	)		(3,542	)		(82,822	)		1,830,042			(5,101	)		34,214			(128,761	)

Total increase (decrease) in net assets		201,381			6,663			141,011			2,458,818			2,225			55,191			(106,924	)

NET ASSETS:
Beginning of period		4,387,462			117,877			1,431,401			2,358,765			130,421			79,924			596,814

End of period	$	4,588,843		$	124,540		$	1,572,412		$	4,817,583		$	132,646		$	135,115		$	489,890

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Franklin Income VIP Fund, Class 4			Goldman Sachs VIT Large Cap Value Fund, Institutional Class			Goldman Sachs VIT Multi-Strategy Alternatives Portfolio			Goldman Sachs VIT Strategic Growth Fund, Institutional Class			Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class			Goldman Sachs VIT U.S. Equity Insights Fund, Service Class			Invesco V.I. Core Equity Fund, Series II
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	155,427		$	(753	)	$	(848	)	$	(398	)	$	(398	)	$	(6,683	)	$	(1,211	)
Net realized gain (loss) on investments		(96,229	)		40,702			(9,727	)		4,162			9,874			211,264			6,194
Change in net unrealized appreciation (depreciation) on investments		385,028			(12,972	)		7,277			1,251			(31	)		(30,358	)		17,215

Net increase (decrease) in net assets resulting from operations		444,226			26,977			(3,298	)		5,015			9,445			174,223			22,198

CONTRACT TRANSACTIONS:
Contract owners’ net payments		46,847			1,000			-			-			1,000			6,000			-
Contract maintenance charges		-			(30	)		-			-			(8	)		-			-
Contract owners’ benefits		(897,407	)		(1,618	)		(4,407	)		(605	)		(1,030	)		(576,368	)		(155,247	)
Net transfers (to) from the Company and/or Subaccounts		12,913			-			(319,276	)		(33,142	)		10			(426,202	)		(4	)

Increase (decrease) in net assets resulting from Contract transactions		(837,647	)		(648	)		(323,683	)		(33,747	)		(28	)		(996,570	)		(155,251	)

Total increase (decrease) in net assets		(393,421	)		26,329			(326,981	)		(28,732	)		9,417			(822,347	)		(133,053	)

NET ASSETS:
Beginning of period		4,448,597			287,450			326,981			28,732			66,501			2,131,369			255,500

End of period	$	4,055,176		$	313,779		$	-		$	-		$	75,918		$	1,309,022		$	122,447

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Invesco V.I. Core Plus Bond Fund, Series II			Invesco V.I. EQV International Equity Fund, Series II			Invesco V.I. Global Real Estate Fund, Series II			Invesco V.I. Growth and Income Fund, Series II			Invesco V.I. International Growth Fund, Series II			Invesco V.I. Main Street Small Cap Fund, Series II			Invesco V.I. Small Cap Equity Fund, Series II
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	6,070		$	807		$	3,001		$	8,121		$	(4,314	)	$	(12,882	)	$	(465	)
Net realized gain (loss) on investments		(1,898	)		25,640			(9,515	)		150,200			17,017			174,243			5,793
Change in net unrealized appreciation (depreciation) on investments		10,179			55,805			36,447			230,399			39,880			(44,919	)		2,217

Net increase (decrease) in net assets resulting from operations		14,351			82,252			29,933			388,720			52,583			116,442			7,545

CONTRACT TRANSACTIONS:
Contract owners’ net payments		1,200			-			8,518			-			-			750			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(107,164	)		(116,641	)		(106,675	)		(548,205	)		(82,197	)		(361,770	)		(2,153	)
Net transfers (to) from the Company and/or Subaccounts		(22,043	)		(171,484	)		(69,807	)		(520,710	)		(316	)		19,862			(3	)

Increase (decrease) in net assets resulting from Contract transactions		(128,007	)		(288,125	)		(167,964	)		(1,068,915	)		(82,513	)		(341,158	)		(2,156	)

Total increase (decrease) in net assets		(113,656	)		(205,873	)		(138,031	)		(680,195	)		(29,930	)		(224,716	)		5,389

NET ASSETS:
Beginning of period		326,195			622,807			504,138			3,577,282			404,476			1,865,535			102,884

End of period	$	212,539		$	416,934		$	366,107		$	2,897,087		$	374,546		$	1,640,819		$	108,273

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Janus Henderson VIT Balanced Portfolio, Service Shares			Janus Henderson VIT Enterprise Portfolio, Service Shares			Janus Henderson VIT Flexible Bond Portfolio, Service Shares			Janus Henderson VIT Mid Cap Value Portfolio, Service Shares			Janus Henderson VIT Overseas Portfolio, Institutional Shares			Janus Henderson VIT Overseas Portfolio, Service Shares			Lord Abbett Series Fund Developing Growth Portfolio, Class VC
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	141,058		$	(30,618	)	$	47,531		$	546		$	78		$	351		$	(1,970	)
Net realized gain (loss) on investments		1,104,277			400,479			(41,603	)		15,161			506			550			3,095
Change in net unrealized appreciation (depreciation) on investments		629,178			(51,578	)		75,455			(6,824	)		20,373			8,000			29,316

Net increase (decrease) in net assets resulting from operations		1,874,513			318,283			81,383			8,883			20,957			8,901			30,441

CONTRACT TRANSACTIONS:
Contract owners’ net payments		5,000			1,344			-			-			1,000			-			-
Contract maintenance charges		-			-			(20	)		-			(13	)		-			-
Contract owners’ benefits		(1,528,551	)		(729,821	)		(129,330	)		(4,079	)		(1,597	)		(2,080	)		(13,790	)
Net transfers (to) from the Company and/or Subaccounts		(736,438	)		(1,500,494	)		3,560			(1	)		(2	)		436			(59	)

Increase (decrease) in net assets resulting from Contract transactions		(2,259,989	)		(2,228,971	)		(125,790	)		(4,080	)		(612	)		(1,644	)		(13,849	)

Total increase (decrease) in net assets		(385,476	)		(1,910,688	)		(44,407	)		4,803			20,345			7,257			16,592

NET ASSETS:
Beginning of period		15,206,904			5,580,519			1,406,428			152,073			76,836			33,062			241,717

End of period	$	14,821,428		$	3,669,831		$	1,362,021		$	156,876		$	97,181		$	40,319		$	258,309

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	LVIP American Century Inflation Protection Fund, Service Class			LVIP American Century Mid Cap Value Fund, Service Class			LVIP American Century Value Fund, Service Class			LVIP JPMorgan Small Cap Core Fund, Service Class			LVIP Nomura U.S. REIT Fund, Service Class			MFS VIT II Blended Research Core Equity Portfolio, Service Class			MFS VIT II International Growth Portfolio, Service Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	21,643		$	21,862		$	21,779		$	(172	)	$	3,476		$	1,301		$	(894	)
Net realized gain (loss) on investments		(32,217	)		206,237			288,192			18,673			6,385			539,427			23,697
Change in net unrealized appreciation (depreciation) on investments		28,024			35,948			325,121			7,051			(9,691	)		(134,283	)		24,644

Net increase (decrease) in net assets resulting from operations		17,450			264,047			635,092			25,552			170			406,445			47,447

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			17,355			21,294			-			-			25,553			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(245,299	)		(389,980	)		(765,784	)		(2,282	)		(23,007	)		(130,886	)		(26,295	)
Net transfers (to) from the Company and/or Subaccounts		(11,557	)		(289,897	)		(202,720	)		(14,379	)		(48,796	)		(65,880	)		(22,302	)

Increase (decrease) in net assets resulting from Contract transactions		(256,856	)		(662,522	)		(947,210	)		(16,661	)		(71,803	)		(171,213	)		(48,597	)

Total increase (decrease) in net assets		(239,406	)		(398,475	)		(312,118	)		8,891			(71,633	)		235,232			(1,150	)

NET ASSETS:
Beginning of period		556,679			3,550,294			5,013,412			297,869			293,069			2,959,408			260,016

End of period	$	317,273		$	3,151,819		$	4,701,294		$	306,760		$	221,436		$	3,194,640		$	258,866

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	MFS VIT II Technology Portfolio, Service Class			MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class			Neuberger Berman AMT Quality Equity Portfolio, Class S			Nomura VIP Emerging Markets Series, Service Class			Nomura VIP Energy Series, Service Class			Nomura VIP International Core Equity Series, Service Class			Nomura VIP Small Cap Value Series, Service Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(86,952	)	$	6,365		$	(11,034	)	$	3,942		$	(20	)	$	(834	)	$	1,366
Net realized gain (loss) on investments		3,187,809			17,118			186,898			22,863			(32,269	)		14,630			92,012
Change in net unrealized appreciation (depreciation) on investments		(1,560,928	)		62,343			(47,497	)		747,289			147,440			12,512			(12,021	)

Net increase (decrease) in net assets resulting from operations		1,539,929			85,826			128,367			774,094			115,151			26,308			81,357

CONTRACT TRANSACTIONS:
Contract owners’ net payments		28,100			17,035			-			240			-			-			96
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(2,624,513	)		(145,019	)		(46,468	)		(176,713	)		(92,304	)		(68,321	)		(167,598	)
Net transfers (to) from the Company and/or Subaccounts		(113,843	)		(964,340	)		(231,184	)		(12,620	)		(84,155	)		(481	)		(152,443	)

Increase (decrease) in net assets resulting from Contract transactions		(2,710,256	)		(1,092,324	)		(277,652	)		(189,093	)		(176,459	)		(68,802	)		(319,945	)

Total increase (decrease) in net assets		(1,170,327	)		(1,006,498	)		(149,285	)		585,001			(61,308	)		(42,494	)		(238,588	)

NET ASSETS:
Beginning of period		13,092,905			1,982,265			1,147,077			1,128,281			1,240,074			125,741			1,455,712

End of period	$	11,922,578		$	975,767		$	997,792		$	1,713,282		$	1,178,766		$	83,247		$	1,217,124

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	NVIT Fidelity Institutional AM Emerging Markets Fund, Class D			PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class			PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class			PIMCO VIT Low Duration Portfolio, Advisor Class			PIMCO VIT Real Return Portfolio, Advisor Class			PIMCO VIT Short-Term Portfolio, Advisor Class			PIMCO VIT Total Return Portfolio, Advisor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(537	)	$	26,704		$	15,363		$	98,616		$	35,642		$	96,247		$	404,319
Net realized gain (loss) on investments		432			(71,290	)		(82,654	)		(9,307	)		(11,073	)		34,285			(334,517	)
Change in net unrealized appreciation (depreciation) on investments		14,602			251,418			27,922			55,179			66,149			(31,775	)		831,067

Net increase (decrease) in net assets resulting from operations		14,497			206,832			(39,369	)		144,488			90,718			98,757			900,869

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			-			-			-			23,442
Contract maintenance charges		(12	)		-			-			-			-			-			-
Contract owners’ benefits		(2,916	)		(107,433	)		(125,279	)		(380,655	)		(100,155	)		(238,529	)		(2,191,660	)
Net transfers (to) from the Company and/or Subaccounts		(117	)		(91,197	)		67,733			12,998			36,038			(1,147,593	)		1,158,117

Increase (decrease) in net assets resulting from Contract transactions		(3,045	)		(198,630	)		(57,546	)		(367,657	)		(64,117	)		(1,386,122	)		(1,010,101	)

Total increase (decrease) in net assets		11,452			8,202			(96,915	)		(223,169	)		26,601			(1,287,365	)		(109,232	)

NET ASSETS:
Beginning of period		45,000			1,230,718			604,237			3,150,627			1,328,805			3,616,436			11,607,847

End of period	$	56,452		$	1,238,920		$	507,322		$	2,927,458		$	1,355,406		$	2,329,071		$	11,498,615

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Putnam VT Core Equity Fund, Class IB			Putnam VT Emerging Markets Equity Fund, Class IB			Putnam VT Focused International Equity Fund, Class IB			Putnam VT Global Asset Allocation Fund, Class IB			Putnam VT Income Fund, Class IB			Putnam VT International Equity Fund, Class IB			Putnam VT International Value Fund, Class IB
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(6,448	)	$	(254	)	$	12,054		$	12,581		$	59,208		$	(3,271	)	$	102
Net realized gain (loss) on investments		187,503			96			32,285			144,440			(54,807	)		40,166			12,170
Change in net unrealized appreciation (depreciation) on investments		59,458			13,203			120,106			(17,602	)		85,318			63,795			32,221

Net increase (decrease) in net assets resulting from operations		240,513			13,045			164,445			139,419			89,719			100,690			44,493

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			-			72,881			-			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(148,210	)		-			(117,576	)		(125,157	)		(164,748	)		(201,109	)		(40,781	)
Net transfers (to) from the Company and/or Subaccounts		(51,636	)		(1	)		(56,496	)		(6	)		6,109			332,887			215,687

Increase (decrease) in net assets resulting from Contract transactions		(199,846	)		(1	)		(174,072	)		(125,163	)		(85,758	)		131,778			174,906

Total increase (decrease) in net assets		40,667			13,044			(9,627	)		14,256			3,961			232,468			219,399

NET ASSETS:
Beginning of period		1,667,871			40,058			511,852			1,158,167			1,448,045			276,507			106,243

End of period	$	1,708,538		$	53,102		$	502,225		$	1,172,423		$	1,452,006		$	508,975		$	325,642

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	Putnam VT Large Cap Growth Fund, Class IB			Putnam VT Large Cap Value Fund, Class IB			Putnam VT Mortgage Securities Fund, Class IB			Putnam VT Research Fund, Class IB			Putnam VT Small Cap Growth Fund, Class IB			Putnam VT Small Cap Value Fund, Class IB			T. Rowe Price Blue Chip Growth Portfolio, Class II
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(66,829	)	$	3,214		$	9,474		$	(771	)	$	(1,099	)	$	(413	)	$	(225,034	)
Net realized gain (loss) on investments		1,372,259			73,221			(2,422	)		196,643			26,171			41,826			5,575,198
Change in net unrealized appreciation (depreciation) on investments		(280,844	)		100,019			2,422			(133,965	)		(23,004	)		(18,133	)		(640,150	)

Net increase (decrease) in net assets resulting from operations		1,024,586			176,454			9,474			61,907			2,068			23,280			4,710,014

CONTRACT TRANSACTIONS:
Contract owners’ net payments		3,630			-			-			-			-			-			48,732
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(1,572,811	)		(12,138	)		(3,979	)		(427,302	)		(122,006	)		(154,878	)		(4,183,372	)
Net transfers (to) from the Company and/or Subaccounts		(364,353	)		(7	)		24,044			425			(7	)		(33,324	)		(1,803,229	)

Increase (decrease) in net assets resulting from Contract transactions		(1,933,534	)		(12,145	)		20,065			(426,877	)		(122,013	)		(188,202	)		(5,937,869	)

Total increase (decrease) in net assets		(908,948	)		164,309			29,539			(364,970	)		(119,945	)		(164,922	)		(1,227,855	)

NET ASSETS:
Beginning of period		8,827,055			928,410			108,838			554,625			289,663			566,301			31,019,947

End of period	$	7,918,107		$	1,092,719		$	138,377		$	189,655		$	169,718		$	401,379		$	29,792,092

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS
FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

	SUBACCOUNTS
	T. Rowe Price Health Sciences Portfolio, Class II			VanEck VIP Emerging Markets Fund, Initial Class			VanEck VIP Global Resources Fund, Class S			VanEck VIP Global Resources Fund, Initial Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(44,606	)	$	(404	)	$	3,942		$	(341	)
Net realized gain (loss) on investments		(47,911	)		421			(7,632	)		(89	)
Change in net unrealized appreciation (depreciation) on investments		816,258			14,066			108,882			14,775

Net increase (decrease) in net assets resulting from operations		723,741			14,083			105,192			14,345

CONTRACT TRANSACTIONS:
Contract owners’ net payments		1,000			-			-			-
Contract maintenance charges		-			(6	)		-			(4	)
Contract owners’ benefits		(1,134,510	)		(1,840	)		(82,184	)		(2,331	)
Net transfers (to) from the Company and/or Subaccounts		(629,388	)		29,221			(48,105	)		19,615

Increase (decrease) in net assets resulting from Contract transactions		(1,762,898	)		27,375			(130,289	)		17,280

Total increase (decrease) in net assets		(1,039,157	)		41,458			(25,097	)		31,625

NET ASSETS:
Beginning of period		5,940,453			44,252			386,890			59,548

End of period	$	4,901,296		$	85,710		$	361,793		$	91,173

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Alger Capital Appreciation Portfolio, Class I-2			Alger Large Cap Growth Portfolio, Class I-2			Alger Mid Cap Growth Portfolio, Class I-2			Alger Small Cap Growth Portfolio, Class I-2			ALPS Alerian Energy Infrastructure Portfolio, Class III			ALPS Global Opportunity Portfolio, Class III			American Funds IS Capital World Growth and Income Fund, Class 4
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(25,087	)	$	(18,607	)	$	(21,326	)	$	(1,926	)	$	25,710		$	59,295		$	12,633
Net realized gain (loss) on investments		80,514			70,869			6,079			(60,390	)		146,770			29,111			90,742
Change in net unrealized appreciation (depreciation) on investments		616,779			405,017			285,109			76,195			149,104			56,791			541,477

Net increase (decrease) in net assets resulting from operations		672,206			457,279			269,862			13,879			321,584			145,197			644,852

CONTRACT TRANSACTIONS:
Contract owners’ net payments		3,338			6,400			-			938			-			1,100			1,140
Contract maintenance charges		(285	)		(289	)		(164	)		(64	)		-			-			-
Contract owners’ benefits		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(153,548	)		(270,689	)		(70,641	)		(33,080	)		(372,912	)		(263,719	)		(2,906,669	)

Increase (decrease) in net assets resulting from Contract transactions		(150,495	)		(264,578	)		(70,805	)		(32,206	)		(372,912	)		(262,619	)		(2,905,529	)

Total increase (decrease) in net assets		521,711			192,701			199,057			(18,327	)		(51,328	)		(117,422	)		(2,260,677	)

NET ASSETS:
Beginning of period		1,520,489			1,237,105			1,467,062			312,796			1,012,467			891,128			6,100,313

End of period	$	2,042,200		$	1,429,806		$	1,666,119		$	294,469		$	961,139		$	773,706		$	3,839,636

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	American Funds IS Growth Fund, Class 4			American Funds IS Growth-Income Fund, Class 4			American Funds IS International Fund, Class 4			American Funds IS New World Fund, Class 4			American Funds IS Washington Mutual Investors Fund, Class 4			BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III			BlackRock Global Allocation V.I. Fund, Class III
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(73,789	)	$	(7,543	)	$	1,722		$	11,727		$	16,798		$	117		$	10,069
Net realized gain (loss) on investments		947,865			1,171,760			(99,002	)		68,050			287,527			1,828			171,287
Change in net unrealized appreciation (depreciation) on investments		1,882,947			(135,412	)		179,875			88,994			441,028			(332	)		139,501

Net increase (decrease) in net assets resulting from operations		2,757,023			1,028,805			82,595			168,771			745,353			1,613			320,857

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			1,500			545			-			-			150
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(8,552	)		-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(1,855,621	)		(3,353,614	)		(686,540	)		(469,542	)		(1,951,911	)		(5,402	)		(1,373,070	)

Increase (decrease) in net assets resulting from Contract transactions		(1,864,173	)		(3,353,614	)		(685,040	)		(468,997	)		(1,951,911	)		(5,402	)		(1,372,920	)

Total increase (decrease) in net assets		892,850			(2,324,809	)		(602,445	)		(300,226	)		(1,206,558	)		(3,789	)		(1,052,063	)

NET ASSETS:
Beginning of period		10,454,923			6,226,899			3,366,099			3,172,513			5,101,140			10,043			4,493,906

End of period	$	11,347,773		$	3,902,090		$	2,763,654		$	2,872,287		$	3,894,582		$	6,254		$	3,441,843

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	BlackRock High Yield V.I. Fund, Class III			BNY Mellon IP Technology Growth Portfolio, Service Shares			BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares			BNY Mellon VIF Appreciation Portfolio, Initial Shares			BNY Mellon VIF Appreciation Portfolio, Service Shares			BNY Mellon VIF Growth and Income Portfolio, Initial Shares			ClearBridge Variable Large Cap Growth Portfolio, Class II
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	354,602		$	(1,165	)	$	(4,380	)	$	(2,000	)	$	(5,230	)	$	(3,575	)	$	(49,564	)
Net realized gain (loss) on investments		(142,485	)		80,727			14,915			5,869			48,949			36,652			1,355,766
Change in net unrealized appreciation (depreciation) on investments		189,020			24,588			90,531			19,594			38,128			43,809			(23,211	)

Net increase (decrease) in net assets resulting from operations		401,137			104,150			101,066			23,463			81,847			76,886			1,282,991

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			-			-			-			2,015
Contract maintenance charges		-			-			(30	)		(57	)		-			(114	)		-
Contract owners’ benefits		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(565,464	)		(234,444	)		(24,744	)		(125,218	)		(46,773	)		(61,856	)		(3,106,516	)

Increase (decrease) in net assets resulting from Contract transactions		(565,464	)		(234,444	)		(24,774	)		(125,275	)		(46,773	)		(61,970	)		(3,104,501	)

Total increase (decrease) in net assets		(164,327	)		(130,294	)		76,292			(101,812	)		35,074			14,916			(1,821,510	)

NET ASSETS:
Beginning of period		5,808,744			519,233			444,196			290,474			718,478			406,126			6,075,777

End of period	$	5,644,417		$	388,939		$	520,488		$	188,662		$	753,552		$	421,042		$	4,254,267

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	ClearBridge Variable Mid Cap Portfolio, Class II			ClearBridge Variable Small Cap Growth Portfolio, Class II			Columbia VP Select Small Cap Value Fund, Class 2			Columbia VP Seligman Global Technology Fund, Class 1			Columbia VP Seligman Global Technology Fund, Class 2			Columbia VP Small Cap Value Fund, Class 2		Columbia VP Strategic Income Fund, Class 2
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(4,571	)	$	(32,120	)	$	(4,358	)	$	(113,584	)	$	(4,520	)	$	73	$	75,408
Net realized gain (loss) on investments		53,288			(115,114	)		106,937			765,784			33,373			1,193		(87,745	)
Change in net unrealized appreciation (depreciation) on investments		10,920			212,935			(67,177	)		1,165,690			44,032			947		92,909

Net increase (decrease) in net assets resulting from operations		59,637			65,701			35,402			1,817,890			72,885			2,213		80,572

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			5,098			305			938			-			-		-
Contract maintenance charges		-			-			(50	)		(869	)		-			-		-
Contract owners’ benefits		-			(1,126	)		-			(16,170	)		-			-		-
Net transfers (to) from the Company and/or Subaccounts		(337,053	)		(1,860,481	)		(105,880	)		(506,573	)		10,102			-		(497,749	)


Increase (decrease) in net assets resulting from Contract transactions		(337,053	)		(1,856,509	)		(105,625	)		(522,674	)		10,102			-		(497,749	)

Total increase (decrease) in net assets		(277,416	)		(1,790,808	)		(70,223	)		1,295,216			82,987			2,213		(417,177	)

NET ASSETS:
Beginning of period		968,761			4,301,708			347,949			7,501,638			283,426			26,440		2,413,934

End of period	$	691,345		$	2,510,900		$	277,726		$	8,796,854		$	366,413		$	28,653	$	1,996,757

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Delaware VIP International Series, Service Class			Dimensional VA Equity Allocation Portfolio, Institutional		Dimensional VA Global Bond Portfolio, Institutional			Dimensional VA Global Moderate Allocation Portfolio, Institutional		Dimensional VA International Small Portfolio, Institutional			Dimensional VA International Value Portfolio, Institutional			Dimensional VA Short-Term Fixed Portfolio, Institutional
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	2,959		$	11,662	$	1,122		$	36,771	$	11,535		$	29,317		$	23,187
Net realized gain (loss) on investments		(21,200	)		12,012		(2,622	)		15,225		6,190			71,408			476
Change in net unrealized appreciation (depreciation) on investments		20,807			89,381		4,138			47,518		5,013			(30,379	)		(6,571	)

Net increase (decrease) in net assets resulting from operations		2,566			113,055		2,638			99,514		22,738			70,346			17,092

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-		-			-		-			120			-
Contract maintenance charges		-			-		-			-		-			-			-
Contract owners’ benefits		-			-		-			-		-			-			-
Net transfers (to) from the Company and/or Subaccounts		(209,033	)		1,245		(42,886	)		1,545,768		(281,718	)		(306,950	)		475,379

Increase (decrease) in net assets resulting from Contract transactions		(209,033	)		1,245		(42,886	)		1,545,768		(281,718	)		(306,830	)		475,379

Total increase (decrease) in net assets		(206,467	)		114,300		(40,248	)		1,645,282		(258,980	)		(236,484	)		492,471

NET ASSETS:
Beginning of period		206,467			781,132		69,976			326,689		754,059			1,225,934			34,295

End of period	$	-		$	895,432	$	29,728		$	1,971,971	$	495,079		$	989,450		$	526,766

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Dimensional VA US Large Value Portfolio, Institutional			Dimensional VA US Targeted Value Portfolio, Institutional			DWS Capital Growth VIP, Class B			DWS CROCI U.S. VIP, Class B			DWS Global Small Cap VIP, Class B			DWS Small Mid Cap Value VIP, Class B			Eaton Vance VT Floating-Rate Income Fund, Initial Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	26,804		$	(3,143	)	$	(3,137	)	$	481		$	281		$	1,655		$	329,713
Net realized gain (loss) on investments		536,685			380,482			465,979			4,501			(8,571	)		14,198			(59,997	)
Change in net unrealized appreciation (depreciation) on investments		(183,468	)		(318,220	)		(261,898	)		(668	)		8,081			(56	)		37,748

Net increase (decrease) in net assets resulting from operations		380,021			59,119			200,944			4,314			(209	)		15,797			307,464

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			60			-			-			-			-			200
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		-			-			-			-			-			-			(2,133	)
Net transfers (to) from the Company and/or Subaccounts		(666,679	)		(1,235,608	)		(1,636,295	)		(53,562	)		(29,690	)		(1,892	)		(1,450,419	)

Increase (decrease) in net assets resulting from Contract transactions		(666,679	)		(1,235,548	)		(1,636,295	)		(53,562	)		(29,690	)		(1,892	)		(1,452,352	)

Total increase (decrease) in net assets		(286,658	)		(1,176,429	)		(1,435,351	)		(49,248	)		(29,899	)		13,905			(1,144,888	)

NET ASSETS:
Beginning of period		3,254,845			2,281,000			1,435,351			49,248			29,899			288,862			5,185,242

End of period	$	2,968,187		$	1,104,571		$	-		$	-		$	-		$	302,767		$	4,040,354

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Empower Aggressive Profile Fund, Investor Class			Empower Ariel Mid Cap Value Fund, Investor Class			Empower Bond Index Fund, Investor Class			Empower Conservative Profile Fund, Class L			Empower Conservative Profile Fund, Investor Class			Empower Core Bond Fund, Investor Class			Empower Emerging Markets Equity Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	104,323		$	3,225		$	259,956		$	26,515		$	178,996		$	153,260		$	3,999
Net realized gain (loss) on investments		17,715			(271,077	)		(276,643	)		13,027			(46,300	)		(211,526	)		(45,230	)
Change in net unrealized appreciation (depreciation) on investments		413,959			308,824			67,519			150,182			218,945			144,006			97,443

Net increase (decrease) in net assets resulting from operations		535,997			40,972			50,832			189,724			351,641			85,740			56,212

CONTRACT TRANSACTIONS:
Contract owners’ net payments		22,900			80			150			89,018			22,500			-			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		-			-			-			-			(145,375	)		-			-
Net transfers (to) from the Company and/or Subaccounts		(1,454,271	)		(1,216,884	)		(1,631,131	)		(2,865,216	)		(48,276	)		(609,322	)		(222,614	)

Increase (decrease) in net assets resulting from Contract transactions		(1,431,371	)		(1,216,804	)		(1,630,981	)		(2,776,198	)		(171,151	)		(609,322	)		(222,614	)

Total increase (decrease) in net assets		(895,374	)		(1,175,832	)		(1,580,149	)		(2,586,474	)		180,490			(523,582	)		(166,402	)

NET ASSETS:
Beginning of period		5,530,167			1,175,832			15,841,060			6,251,289			8,089,184			6,704,123			668,602

End of period	$	4,634,793		$	-		$	14,260,911		$	3,664,815		$	8,269,674		$	6,180,541		$	502,200

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Empower Global Bond Fund, Investor Class			Empower Government Money Market Fund, Investor Class			Empower High Yield Bond Fund, Investor Class			Empower Inflation-Protected Securities Fund, Investor Class			Empower International Growth Fund, Investor Class			Empower International Index Fund, Investor Class			Empower International Value Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	28,802		$	796,681		$	26,174		$	8,151		$	(839	)	$	148,151		$	31,932
Net realized gain (loss) on investments		(234,737	)		-			(11,473	)		(23,760	)		55,688			292,446			147,074
Change in net unrealized appreciation (depreciation) on investments		168,100			-			43,202			20,352			(13,513	)		(175,985	)		(18,227	)

Net increase (decrease) in net assets resulting from operations		(37,835	)		796,681			57,903			4,743			41,336			264,612			160,779

CONTRACT TRANSACTIONS:
Contract owners’ net payments		22,500			1,059,998			-			-			1,200			20,040			150
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		-			(3,883,680	)		-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(892,345	)		(43,686,304	)		(190,620	)		(153,392	)		(504,872	)		(1,137,287	)		(669,007	)

Increase (decrease) in net assets resulting from Contract transactions		(869,845	)		(46,509,986	)		(190,620	)		(153,392	)		(503,672	)		(1,117,247	)		(668,857	)

Total increase (decrease) in net assets		(907,680	)		(45,713,305	)		(132,717	)		(148,649	)		(462,336	)		(852,635	)		(508,078	)

NET ASSETS:
Beginning of period		2,631,414			45,713,305			1,004,479			484,805			1,230,030			11,317,115			3,808,496

End of period	$	1,723,734		$	-		$	871,762		$	336,156		$	767,694		$	10,464,480		$	3,300,418

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Empower Large Cap Growth Fund, Investor Class			Empower Large Cap Value Fund, Investor Class			Empower Lifetime 2015 Fund, Investor Class			Empower Lifetime 2020 Fund, Investor Class			Empower Lifetime 2025 Fund, Investor Class			Empower Lifetime 2030 Fund, Investor Class			Empower Lifetime 2035 Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(54,561	)	$	(29,026	)	$	13,928		$	1,885		$	13,418		$	33,866		$	5,465
Net realized gain (loss) on investments		643,949			599,281			13,400			(50,731	)		(24,328	)		33,777			970
Change in net unrealized appreciation (depreciation) on investments		864,934			(85,731	)		23,063			93,921			177,198			63,381			93,015

Net increase (decrease) in net assets resulting from operations		1,454,322			484,524			50,391			45,075			166,288			131,024			99,450

CONTRACT TRANSACTIONS:
Contract owners’ net payments		80			2,990			-			-			-			-			800
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(1,174	)		-			(46,928	)		-			(220,579	)		-			-
Net transfers (to) from the Company and/or Subaccounts		(1,070,405	)		(531,773	)		(78,095	)		(878,277	)		(1,713,158	)		(202,462	)		(1,538,475	)

Increase (decrease) in net assets resulting from Contract transactions		(1,071,499	)		(528,783	)		(125,023	)		(878,277	)		(1,933,737	)		(202,462	)		(1,537,675	)

Total increase (decrease) in net assets		382,823			(44,259	)		(74,632	)		(833,202	)		(1,767,449	)		(71,438	)		(1,438,225	)

NET ASSETS:
Beginning of period		6,270,085			3,563,070			948,184			1,212,553			3,011,243			1,938,621			1,949,100

End of period	$	6,652,908		$	3,518,811		$	873,552		$	379,351		$	1,243,794		$	1,867,183		$	510,875

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Empower Lifetime 2040 Fund, Investor Class		Empower Lifetime 2045 Fund, Investor Class			Empower Lifetime 2050 Fund, Investor Class			Empower Lifetime 2055 Fund, Investor Class			Empower Mid Cap Value Fund, Investor Class			Empower Moderate Profile Fund, Class L			Empower Moderate Profile Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	5,960	$	751		$	10,372		$	(1,857	)	$	142,358		$	(151,767	)	$	819,099
Net realized gain (loss) on investments		7,429		7,611			29,091			23,003			60,624			5,099,120			662,316
Change in net unrealized appreciation (depreciation) on investments		23,891		17,086			19,871			14,607			(15,643	)		1,832,480			1,913,122

Net increase (decrease) in net assets resulting from operations		37,280		25,448			59,334			35,753			187,339			6,779,833			3,394,537

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-		-			-			-			-			47,642			300,000
Contract maintenance charges		-		-			-			-			-			-			-
Contract owners’ benefits		-		-			-			-			-			(95,292	)		(457,878	)
Net transfers (to) from the Company and/or Subaccounts		179,710		(239,890	)		(15,131	)		(258,236	)		494,090			(36,630,241	)		(12,780,754	)

Increase (decrease) in net assets resulting from Contract transactions		179,710		(239,890	)		(15,131	)		(258,236	)		494,090			(36,677,891	)		(12,938,632	)

Total increase (decrease) in net assets		216,990		(214,442	)		44,203			(222,483	)		681,429			(29,898,058	)		(9,544,095	)

NET ASSETS:
Beginning of period		175,497		344,291			549,824			438,997			1,517,978			115,392,403			54,068,651

End of period	$	392,487	$	129,849		$	594,027		$	216,514		$	2,199,407		$	85,494,345		$	44,524,556

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Empower Moderately Aggressive Profile Fund, Investor Class			Empower Moderately Conservative Profile Fund, Class L			Empower Moderately Conservative Profile Fund, Investor Class			Empower Multi-Sector Bond Fund, Investor Class			Empower Real Estate Index Fund, Investor Class			Empower S&P 500 Index Fund, Investor Class			Empower S&P Mid Cap 400 Index Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	244,885		$	89,224		$	302,370		$	104,499		$	50,123		$	(60,070	)	$	36,519
Net realized gain (loss) on investments		(142,914	)		177,282			93,522			(38,224	)		16,418			8,793,200			1,490,536
Change in net unrealized appreciation (depreciation) on investments		837,860			531,200			572,156			110,042			105,948			9,235,612			147,920

Net increase (decrease) in net assets resulting from operations		939,831			797,706			968,048			176,317			172,489			17,968,742			1,674,975

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			984			-			278,580			17,855
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		-			-			(1,382	)		-			-			(257,578	)		-
Net transfers (to) from the Company and/or Subaccounts		(3,138,375	)		(5,297,123	)		(2,410,633	)		(1,090,935	)		(712,438	)		(15,550,191	)		(5,169,660	)

Increase (decrease) in net assets resulting from Contract transactions		(3,138,375	)		(5,297,123	)		(2,412,015	)		(1,089,951	)		(712,438	)		(15,529,189	)		(5,151,805	)

Total increase (decrease) in net assets		(2,198,544	)		(4,499,417	)		(1,443,967	)		(913,634	)		(539,949	)		2,439,553			(3,476,830	)

NET ASSETS:
Beginning of period		13,020,455			16,722,631			17,468,915			4,827,484			3,220,283			84,331,754			16,307,325

End of period	$	10,821,911		$	12,223,214		$	16,024,948		$	3,913,850		$	2,680,334		$	86,771,307		$	12,830,495

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Empower S&P Small Cap 600 Index Fund, Investor Class			Empower SecureFoundation Balanced Fund, Class L			Empower Short Duration Bond Fund, Investor Class			Empower Small Cap Growth Fund, Investor Class			Empower Small Cap Value Fund, Investor Class			Empower T. Rowe Price Mid Cap Growth Fund, Investor Class			Empower U.S. Government Securities Fund, Investor Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(1,506	)	$	2,132,036		$	224,302		$	(7,027	)	$	(24,212	)	$	(89,561	)	$	23,871
Net realized gain (loss) on investments		463,911			8,031,295			(25,072	)		54,704			220,632			1,242,062			(100,396	)
Change in net unrealized appreciation (depreciation) on investments		394,267			3,390,604			34,249			38,818			369			(366,895	)		75,930

Net increase (decrease) in net assets resulting from operations		856,672			13,553,935			233,479			86,495			196,789			785,606			(595	)

CONTRACT TRANSACTIONS:
Contract owners’ net payments		67,875			10,000			-			-			1,200			48,385			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		(1,395	)		(402,490	)		-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(4,403,627	)		(55,291,227	)		(2,555,609	)		(2,406,550	)		(220,032	)		(3,116,974	)		(583,064	)

Increase (decrease) in net assets resulting from Contract transactions		(4,337,147	)		(55,683,717	)		(2,555,609	)		(2,406,550	)		(218,832	)		(3,068,589	)		(583,064	)

Total increase (decrease) in net assets		(3,480,475	)		(42,129,782	)		(2,322,130	)		(2,320,055	)		(22,043	)		(2,282,983	)		(583,659	)

NET ASSETS:
Beginning of period		16,979,476			223,428,662			8,379,779			3,054,400			2,973,824			10,677,833			1,795,686

End of period	$	13,499,001		$	181,298,880		$	6,057,649		$	734,345		$	2,951,781		$	8,394,850		$	1,212,027

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Federated Hermes High Income Bond Fund II, Service Shares			Fidelity VIP Asset Manager 50% Portfolio, Initial Class			Fidelity VIP Balanced Portfolio, Service Class 2			Fidelity VIP Contrafund Portfolio, Initial Class			Fidelity VIP Government Money Market Portfolio, Initial Class			Fidelity VIP Growth Opportunities Portfolio, Initial Class			Fidelity VIP Growth Portfolio, Initial Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	28,243		$	12,275		$	343,834		$	(16,887	)	$	751,052		$	(4,084	)	$	(57,601	)
Net realized gain (loss) on investments		(49,046	)		22,178			4,034,480			387,550			14			(3,416	)		1,158,452
Change in net unrealized appreciation (depreciation) on investments		45,273			48,681			533,357			43,145			(14	)		104,632			(95,618	)

Net increase (decrease) in net assets resulting from operations		24,470			83,134			4,911,671			413,808			751,052			97,132			1,005,233

CONTRACT TRANSACTIONS:
Contract owners’ net payments		693			458			70,000			3,643			3,000			-			1,600
Contract maintenance charges		-			(242	)		-			(304	)		(308	)		(56	)		(463	)
Contract owners’ benefits		-			-			-			-			(9,084,395	)		-			-
Net transfers (to) from the Company and/or Subaccounts		(412,508	)		(94,037	)		(14,099,770	)		(354,492	)		38,516,686			(17,018	)		(246,085	)

Increase (decrease) in net assets resulting from Contract transactions		(411,815	)		(93,821	)		(14,029,770	)		(351,153	)		29,434,983			(17,074	)		(244,948	)

Total increase (decrease) in net assets		(387,345	)		(10,687	)		(9,118,099	)		62,655			30,186,035			80,058			760,285

NET ASSETS:
Beginning of period		671,127			1,198,294			35,435,284			1,434,842			665,747			269,183			3,627,177

End of period	$	283,782		$	1,187,607		$	26,317,185		$	1,497,497		$	30,851,782		$	349,241		$	4,387,462

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Fidelity VIP High Income Portfolio, Initial Class			Fidelity VIP Index 500 Portfolio, Initial Class			Fidelity VIP International Capital Appreciation Portfolio, Service Class 2			Fidelity VIP Investment Grade Bond Portfolio, Initial Class			Fidelity VIP Overseas Portfolio, Initial Class			First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I			Franklin Income VIP Fund, Class 4
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	5,302		$	(1,861	)	$	(6,607	)	$	2,767		$	220		$	7,418		$	186,243
Net realized gain (loss) on investments		(1,408	)		279,805			24,703			(3,860	)		4,881			(10,242	)		(196,368	)
Change in net unrealized appreciation (depreciation) on investments		4,481			22,668			157,713			1,664			(2,199	)		37,092			294,969

Net increase (decrease) in net assets resulting from operations		8,375			300,612			175,809			571			2,902			34,268			284,844

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			80			1,395			-			-			-
Contract maintenance charges		(16	)		(122	)		-			(64	)		(20	)		-			-
Contract owners’ benefits		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(8,843	)		(402,031	)		(529,516	)		(5,276	)		(2,082	)		(454,726	)		(1,487,212	)

Increase (decrease) in net assets resulting from Contract transactions		(8,859	)		(402,153	)		(529,436	)		(3,945	)		(2,102	)		(454,726	)		(1,487,212	)

Total increase (decrease) in net assets		(484	)		(101,541	)		(353,627	)		(3,374	)		800			(420,458	)		(1,202,368	)

NET ASSETS:
Beginning of period		118,361			1,532,942			2,712,392			133,795			79,124			1,017,272			5,650,965

End of period	$	117,877		$	1,431,401		$	2,358,765		$	130,421		$	79,924		$	596,814		$	4,448,597

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Goldman Sachs VIT Large Cap Value Fund, Institutional Class			Goldman Sachs VIT Multi-Strategy Alternatives Portfolio			Goldman Sachs VIT Strategic Growth Fund, Institutional Class			Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class			Goldman Sachs VIT U.S. Equity Insights Fund, Service Class			Invesco V.I. Core Equity Fund, Series II			Invesco V.I. Core Plus Bond Fund, Series II
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	422		$	3,208		$	(17	)	$	(390	)	$	(10,212	)	$	(1,005	)	$	8,338
Net realized gain (loss) on investments		32,067			910			-			9,128			488,249			19,807			(10,409	)
Change in net unrealized appreciation (depreciation) on investments		7,594			10,074			(1,251	)		5,289			75,277			30,946			11,684

Net increase (decrease) in net assets resulting from operations		40,083			14,192			(1,268	)		14,027			553,314			49,748			9,613

CONTRACT TRANSACTIONS:
Contract owners’ net payments		938			-			-			938			-			-			1,200
Contract maintenance charges		(30	)		-			-			(8	)		-			-			-
Contract owners’ benefits		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(4,591	)		(330,100	)		30,000			(834	)		(732,221	)		(1,003	)		(645,276	)

Increase (decrease) in net assets resulting from Contract transactions		(3,683	)		(330,100	)		30,000			96			(732,221	)		(1,003	)		(644,076	)

Total increase (decrease) in net assets		36,400			(315,908	)		28,732			14,123			(178,907	)		48,745			(634,463	)

NET ASSETS:
Beginning of period		251,050			642,889			-			52,378			2,310,276			206,755			960,658

End of period	$	287,450		$	326,981		$	28,732		$	66,501		$	2,131,369		$	255,500		$	326,195

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Invesco V.I. EQV International Equity Fund, Series II			Invesco V.I. Global Real Estate Fund, Series II			Invesco V.I. Growth and Income Fund, Series II			Invesco V.I. International Growth Fund, Series II			Invesco V.I. Main Street Small Cap Fund, Series II			Invesco V.I. Small Cap Equity Fund, Series II			Janus Henderson VIT Balanced Portfolio, Service Shares
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	4,249		$	7,347		$	7,909		$	(5,454	)	$	(20,966	)	$	(621	)	$	149,362
Net realized gain (loss) on investments		(37,991	)		(69,136	)		252,761			(69,280	)		165,341			1,940			1,703,679
Change in net unrealized appreciation (depreciation) on investments		29,350			42,684			337,696			74,360			77,081			16,224			417,631

Net increase (decrease) in net assets resulting from operations		(4,392	)		(19,105	)		598,366			(374	)		221,456			17,543			2,270,672

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			11,250			35,000			-			1,525			-			132,490
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		-			-			-			-			-			-			(17,443	)
Net transfers (to) from the Company and/or Subaccounts		(324,078	)		(313,270	)		(1,605,653	)		(478,439	)		(649,293	)		(41,207	)		(6,065,955	)

Increase (decrease) in net assets resulting from Contract transactions		(324,078	)		(302,020	)		(1,570,653	)		(478,439	)		(647,768	)		(41,207	)		(5,950,908	)

Total increase (decrease) in net assets		(328,470	)		(321,125	)		(972,287	)		(478,813	)		(426,312	)		(23,664	)		(3,680,236	)

NET ASSETS:
Beginning of period		951,277			825,263			4,549,569			883,289			2,291,847			126,548			18,887,140

End of period	$	622,807		$	504,138		$	3,577,282		$	404,476		$	1,865,535		$	102,884		$	15,206,904

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Janus Henderson VIT Enterprise Portfolio, Service Shares			Janus Henderson VIT Flexible Bond Portfolio, Service Shares			Janus Henderson VIT Mid Cap Value Portfolio, Service Shares			Janus Henderson VIT Overseas Portfolio, Institutional Shares			Janus Henderson VIT Overseas Portfolio, Service Shares			Lord Abbett Series Fund Developing Growth Portfolio, Class VC			LVIP American Century Inflation Protection Fund, Service Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	(4,834	)	$	46,898		$	744		$	(31	)	$	315		$	(2,061	)	$	19,166
Net realized gain (loss) on investments		204,031			(111,958	)		9,310			6,948			366			(2,707	)		(78,921	)
Change in net unrealized appreciation (depreciation) on investments		663,468			62,799			8,260			(3,165	)		1,059			47,989			63,055

Net increase (decrease) in net assets resulting from operations		862,665			(2,261	)		18,314			3,752			1,740			43,221			3,300

CONTRACT TRANSACTIONS:
Contract owners’ net payments		1,320			-			-			938			-			-			-
Contract maintenance charges		-			(20	)		-			(13	)		-			-			-
Contract owners’ benefits		(4,821	)		-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(2,321,707	)		(583,183	)		(13,708	)		(15,614	)		(131	)		(17,250	)		(362,329	)

Increase (decrease) in net assets resulting from Contract transactions		(2,325,208	)		(583,203	)		(13,708	)		(14,689	)		(131	)		(17,250	)		(362,329	)

Total increase (decrease) in net assets		(1,462,543	)		(585,464	)		4,606			(10,937	)		1,609			25,971			(359,029	)

NET ASSETS:
Beginning of period		7,043,062			1,991,892			147,467			87,773			31,453			215,746			915,708

End of period	$	5,580,519		$	1,406,428		$	152,073		$	76,836		$	33,062		$	241,717		$	556,679

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	LVIP American Century Mid Cap Value Fund, Service Class			LVIP American Century Value Fund, Service Class			LVIP JPMorgan Small Cap Core Fund, Service Class			LVIP Nomura U.S. REIT Fund, Service Class			MFS VIT II Blended Research Core Equity Portfolio, Service Class			MFS VIT II International Growth Portfolio, Service Class			MFS VIT II Technology Portfolio, Service Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	53,922		$	105,139		$	(1,431	)	$	3,069		$	7,258		$	(803	)	$	(104,285	)
Net realized gain (loss) on investments		2,179			883,641			(6,780	)		36,071			521,057			(3,776	)		896,818
Change in net unrealized appreciation (depreciation) on investments		255,525			(344,673	)		41,436			(3,017	)		170,077			25,831			3,019,449

Net increase (decrease) in net assets resulting from operations		311,626			644,107			33,225			36,123			698,392			21,252			3,811,982

CONTRACT TRANSACTIONS:
Contract owners’ net payments		396			5,000			-			-			-			-			13,020
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		-			(1,536	)		-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(1,772,125	)		(6,045,704	)		(85,091	)		(694,720	)		(485,406	)		(98,524	)		(1,681,928	)

Increase (decrease) in net assets resulting from Contract transactions		(1,771,729	)		(6,042,240	)		(85,091	)		(694,720	)		(485,406	)		(98,524	)		(1,668,908	)

Total increase (decrease) in net assets		(1,460,103	)		(5,398,133	)		(51,866	)		(658,597	)		212,986			(77,272	)		2,143,074

NET ASSETS:
Beginning of period		5,010,397			10,411,545			349,735			951,666			2,746,422			337,288			10,949,831

End of period	$	3,550,294		$	5,013,412		$	297,869		$	293,069		$	2,959,408		$	260,016		$	13,092,905

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class			Neuberger Berman AMT Quality Equity Portfolio, Class S			Nomura VIP Emerging Markets Series, Service Class			Nomura VIP Energy Series, Service Class			Nomura VIP International Core Equity Series, Service Class			Nomura VIP Small Cap Value Series, Service Class			NVIT Fidelity Institutional AM Emerging Markets Fund, Class D
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	4,956		$	(11,958	)	$	19,422		$	30,490		$	972		$	2,097		$	(25	)
Net realized gain (loss) on investments		(47,498	)		156,323			23,051			(29,274	)		903			108,225			138
Change in net unrealized appreciation (depreciation) on investments		125,642			130,159			41,796			(86,838	)		(1,219	)		52,703			1,957

Net increase (decrease) in net assets resulting from operations		83,100			274,524			84,269			(85,622	)		656			163,025			2,070

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			22,700			20,000			-			80			-
Contract maintenance charges		-			-			-			-			-			-			(12	)
Contract owners’ benefits		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(323,092	)		(463,918	)		(990,058	)		(320,400	)		125,085			(514,616	)		(1,788	)

Increase (decrease) in net assets resulting from Contract transactions		(323,092	)		(463,918	)		(967,358	)		(300,400	)		125,085			(514,536	)		(1,800	)

Total increase (decrease) in net assets		(239,992	)		(189,394	)		(883,089	)		(386,022	)		125,741			(351,511	)		270

NET ASSETS:
Beginning of period		2,222,257			1,336,471			2,011,370			1,626,096			-			1,807,223			44,730

End of period	$	1,982,265		$	1,147,077		$	1,128,281		$	1,240,074		$	125,741		$	1,455,712		$	45,000

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class			PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class			PIMCO VIT Low Duration Portfolio, Advisor Class			PIMCO VIT Real Return Portfolio, Advisor Class			PIMCO VIT Short-Term Portfolio, Advisor Class			PIMCO VIT Total Return Portfolio, Advisor Class			Putnam VT Core Equity Fund, Class IB
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	18,515		$	12,811		$	108,742		$	29,677		$	155,033		$	379,849		$	(3,199	)
Net realized gain (loss) on investments		(610,901	)		(42,997	)		(86,528	)		(79,450	)		6,735			(459,245	)		142,110
Change in net unrealized appreciation (depreciation) on investments		655,660			(29,327	)		97,142			77,809			27,779			308,001			230,470

Net increase (decrease) in net assets resulting from operations		63,274			(59,513	)		119,356			28,036			189,547			228,605			369,381

CONTRACT TRANSACTIONS:
Contract owners’ net payments		13,750			-			-			-			-			495			-
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		-			-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		(1,976,921	)		(393,095	)		(1,141,481	)		(124,458	)		(976,994	)		3,174,588			(81,951	)

Increase (decrease) in net assets resulting from Contract transactions		(1,963,171	)		(393,095	)		(1,141,481	)		(124,458	)		(976,994	)		3,175,083			(81,951	)

Total increase (decrease) in net assets		(1,899,897	)		(452,608	)		(1,022,125	)		(96,422	)		(787,447	)		3,403,688			287,430

NET ASSETS:
Beginning of period		3,130,615			1,056,845			4,172,752			1,425,227			4,403,883			8,204,159			1,380,441

End of period	$	1,230,718		$	604,237		$	3,150,627		$	1,328,805		$	3,616,436		$	11,607,847		$	1,667,871

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Putnam VT Emerging Markets Equity Fund, Class IB		Putnam VT Focused International Equity Fund, Class IB			Putnam VT Global Asset Allocation Fund, Class IB			Putnam VT Income Fund, Class IB			Putnam VT International Equity Fund, Class IB			Putnam VT International Value Fund, Class IB			Putnam VT Large Cap Growth Fund, Class IB
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	63	$	2,695		$	11,415		$	106,490		$	3,720		$	3,016		$	(74,460	)
Net realized gain (loss) on investments		8		(76,733	)		39,015			(417,675	)		(2,943	)		14,486			778,745
Change in net unrealized appreciation (depreciation) on investments		4,905		88,058			121,609			349,705			5,823			(9,759	)		1,609,905

Net increase (decrease) in net assets resulting from operations		4,976		14,020			172,039			38,520			6,600			7,743			2,314,190

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-		-			-			594			-			-			26,025
Contract maintenance charges		-		-			-			-			-			-			-
Contract owners’ benefits		-		-			-			-			-			-			-
Net transfers (to) from the Company and/or Subaccounts		-		(257,073	)		(221,404	)		(849,684	)		(45,104	)		(96,354	)		(1,035,330	)

Increase (decrease) in net assets resulting from Contract transactions		-		(257,073	)		(221,404	)		(849,090	)		(45,104	)		(96,354	)		(1,009,305	)

Total increase (decrease) in net assets		4,976		(243,053	)		(49,365	)		(810,570	)		(38,504	)		(88,611	)		1,304,885

NET ASSETS:
Beginning of period		35,082		754,905			1,207,532			2,258,615			315,011			194,854			7,522,170

End of period	$	40,058	$	511,852		$	1,158,167		$	1,448,045		$	276,507		$	106,243		$	8,827,055

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	Putnam VT Large Cap Value Fund, Class IB			Putnam VT Mortgage Securities Fund, Class IB			Putnam VT Research Fund, Class IB			Putnam VT Small Cap Growth Fund, Class IB			Putnam VT Small Cap Value Fund, Class IB			T. Rowe Price Blue Chip Growth Portfolio, Class II			T. Rowe Price Health Sciences Portfolio, Class II
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	1,123		$	6,395		$	(2,710	)	$	(3,707	)	$	577		$	(263,581	)	$	(70,136	)
Net realized gain (loss) on investments		79,934			(1,639	)		46,782			25,205			(227	)		5,627,637			1,270,552
Change in net unrealized appreciation (depreciation) on investments		77,524			(431	)		74,577			49,546			26,822			4,033,281			(983,780	)

Net increase (decrease) in net assets resulting from operations		158,581			4,325			118,649			71,044			27,172			9,397,337			216,636

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			-			-			-			-			15,080			6,005
Contract maintenance charges		-			-			-			-			-			-			-
Contract owners’ benefits		-			-			-			-			-			(5,204	)		(3,654	)
Net transfers (to) from the Company and/or Subaccounts		(129,837	)		(1,588	)		(130,839	)		(107,793	)		(127,429	)		(10,735,720	)		(3,312,002	)

Increase (decrease) in net assets resulting from Contract transactions		(129,837	)		(1,588	)		(130,839	)		(107,793	)		(127,429	)		(10,725,844	)		(3,309,651	)

Total increase (decrease) in net assets		28,744			2,737			(12,190	)		(36,749	)		(100,257	)		(1,328,507	)		(3,093,015	)

NET ASSETS:
Beginning of period		899,666			106,101			566,815			326,412			666,558			32,348,454			9,033,468

End of period	$	928,410		$	108,838		$	554,625		$	289,663		$	566,301		$	31,019,947		$	5,940,453

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Continued)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

	SUBACCOUNTS
	VanEck VIP Emerging Markets Fund, Initial Class			VanEck VIP Global Resources Fund, Class S			VanEck VIP Global Resources Fund, Initial Class
INCREASE (DECREASE) IN NET ASSETS:

OPERATIONS:
Net investment income (loss)	$	412		$	6,890		$	2,121
Net realized gain (loss) on investments		(10,225	)		4,271			27,963
Change in net unrealized appreciation (depreciation) on investments		11,375			(39,118	)		(29,720	)

Net increase (decrease) in net assets resulting from operations		1,562			(27,957	)		364

CONTRACT TRANSACTIONS:
Contract owners’ net payments		-			11,250			-
Contract maintenance charges		(6	)		-			(4	)
Contract owners’ benefits		-			-			-
Net transfers (to) from the Company and/or Subaccounts		(35,866	)		(688,359	)		(145,646	)

Increase (decrease) in net assets resulting from Contract transactions		(35,872	)		(677,109	)		(145,650	)

Total increase (decrease) in net assets		(34,310	)		(705,066	)		(145,286	)

NET ASSETS:
Beginning of period		78,562			1,091,956			204,834

End of period	$	44,252		$	386,890		$	59,548

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

Note 2: See note 1, Organization, for periods presented, if applicable.

(Concluded)

See accompanying notes to financial statements.

VARIABLE ANNUITY-2 SERIES ACCOUNT

NOTES TO FINANCIAL STATEMENTS
YEAR ENDED DECEMBER 31, 2025

ORGANIZATION

Effective August 1, 2022, Great West Life & Annuity Insurance Company is now known as Empower Annuity Insurance Company of America (the Company). The Variable Annuity-2 Series Account (the Separate Account), a separate account of the Company is registered as a unit investment trust under the Investment Company Act of 1940, as amended, and exists in accordance with regulations of the Colorado Division of Insurance. It was established to receive and invest premium payments under individual variable annuity Contracts issued by the Company.

Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the Company’s other assets and liabilities. The portion of the Separate Account’s assets applicable to the variable annuity contracts (the “Contracts”) is not chargeable with liabilities arising out of any other business the Company may conduct.

The Separate Account is a funding vehicle for individual variable annuity Contracts; it consists of a number of subaccounts (the “Subaccounts”), also commonly referred to as investment divisions or funds, each of which is treated as an individual accounting entity for financial reporting purposes. The Separate Account’s value at any time is allocated among Contract owners based on the number and value of their accumulation units representing their interest in the Subaccounts of the Separate Account; all of the investible assets of the Separate Account are invested in the corresponding mutual funds.

The Separate Account has identified the Chief Product Officer – Retirement Division as the chief operating decision maker (“CODM”). The Separate Account is comprised of multiple Subaccounts, each of which constitutes an operating segment. The CODM uses significant performance measures of the Subaccounts, such as the total return ratio, investment income ratio, and expense ratio to make operational decisions for the Separate Account. Segment assets are reflected on the Statements of Assets and Liabilities as Total assets, and significant segment expenses are listed on the Statements of Operations.

Contract owners’ net payments are allocated to the Subaccounts in accordance with Contract owner instructions and are recorded as Contract owners’ net payments in the Statements of Changes in Net Assets. Such amounts are used to provide account funds to pay Contract values under the Contracts.

The following is a list of the variable annuity products funded by the Separate Account:

Smart Track

Smart Track Advisor

Smart Track II

Smart Track II- 5 Year

Varifund

Varifund Advisor

Varifund Plus

For the years or periods ended December 31, 2025 and 2024, the Separate Account offered up to 159 available Subaccount investment options, as follows:

Alger Capital Appreciation Portfolio, Class I-2

Alger Large Cap Growth Portfolio, Class I-2

Alger Mid Cap Growth Portfolio, Class I-2

Alger Small Cap Growth Portfolio, Class I-2

ALPS Alerian Energy Infrastructure Portfolio, Class III

ALPS Global Opportunity Portfolio, Class III

American Funds IS Capital World Growth and Income Fund, Class 4

American Funds IS Growth Fund, Class 4

American Funds IS Growth-Income Fund, Class 4

American Funds IS International Fund, Class 4

American Funds IS New World Fund, Class 4

American Funds IS Washington Mutual Investors Fund, Class 4

BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III

BlackRock Global Allocation V.I. Fund, Class III

BlackRock High Yield V.I. Fund, Class III

BNY Mellon IP Technology Growth Portfolio, Service Shares

BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares

BNY Mellon VIF Appreciation Portfolio, Initial Shares

BNY Mellon VIF Appreciation Portfolio, Service Shares

BNY Mellon VIF Growth and Income Portfolio, Initial Shares

ClearBridge Variable Large Cap Growth Portfolio, Class II

ClearBridge Variable Mid Cap Portfolio, Class II

ClearBridge Variable Small Cap Growth Portfolio, Class II

Columbia VP Select Small Cap Value Fund, Class 2

Columbia VP Seligman Global Technology Fund, Class 1

Columbia VP Seligman Global Technology Fund, Class 2

Columbia VP Small Cap Value Fund, Class 2

Columbia VP Strategic Income Fund, Class 2

Delaware VIP International Series, Service Class^(a)

Dimensional VA Equity Allocation Portfolio, Institutional

Dimensional VA Global Bond Portfolio, Institutional

Dimensional VA Global Moderate Allocation Portfolio, Institutional

Dimensional VA International Small Portfolio, Institutional

Dimensional VA International Value Portfolio, Institutional

Dimensional VA Short-Term Fixed Portfolio, Institutional

Dimensional VA US Large Value Portfolio, Institutional

Dimensional VA US Targeted Value Portfolio, Institutional

DWS Capital Growth VIP, Class B^(a)

DWS CROCI U.S. VIP, Class B^(a)

DWS Global Small Cap VIP, Class B^(a)

DWS Small Mid Cap Value VIP, Class B

Eaton Vance VT Floating-Rate Income Fund, Initial Class

Empower Aggressive Profile Fund, Investor Class

Empower Ariel Mid Cap Value Fund, Investor Class^(a)

Empower Bond Index Fund, Investor Class

Empower Conservative Profile Fund, Class L

Empower Conservative Profile Fund, Investor Class

Empower Core Bond Fund, Investor Class

Empower Emerging Markets Equity Fund, Investor Class

Empower Global Bond Fund, Investor Class

Empower Government Money Market Fund, Investor Class^(a)

Empower High Yield Bond Fund, Investor Class

Empower Inflation-Protected Securities Fund, Investor Class

Empower International Growth Fund, Investor Class

Empower International Index Fund, Investor Class

Empower International Value Fund, Investor Class

Empower Large Cap Growth Fund, Investor Class

Empower Large Cap Value Fund, Investor Class

Empower Lifetime 2015 Fund, Investor Class

Empower Lifetime 2020 Fund, Investor Class

Empower Lifetime 2025 Fund, Investor Class

Empower Lifetime 2030 Fund, Investor Class

Empower Lifetime 2035 Fund, Investor Class

Empower Lifetime 2040 Fund, Investor Class

Empower Lifetime 2045 Fund, Investor Class

Empower Lifetime 2050 Fund, Investor Class

Empower Lifetime 2055 Fund, Investor Class

Empower Mid Cap Value Fund, Investor Class

Empower Moderate Profile Fund, Class L

Empower Moderate Profile Fund, Investor Class

Empower Moderately Aggressive Profile Fund, Investor Class

Empower Moderately Conservative Profile Fund, Class L

Empower Moderately Conservative Profile Fund, Investor Class

Empower Multi-Sector Bond Fund, Investor Class

Empower Real Estate Index Fund, Investor Class

Empower S&P 500 Index Fund, Investor Class

Empower S&P Mid Cap 400 Index Fund, Investor Class

Empower S&P Small Cap 600 Index Fund, Investor Class

Empower SecureFoundation Balanced Fund, Class L

Empower Short Duration Bond Fund, Investor Class

Empower Small Cap Growth Fund, Investor Class

Empower Small Cap Value Fund, Investor Class

Empower T. Rowe Price Mid Cap Growth Fund, Investor Class

Empower U.S. Government Securities Fund, Investor Class

Federated Hermes High Income Bond Fund II, Service Shares

Fidelity VIP Asset Manager 50% Portfolio, Initial Class^(a)

Fidelity VIP Balanced Portfolio, Service Class 2

Fidelity VIP Contrafund Portfolio, Initial Class

Fidelity VIP Government Money Market Portfolio, Initial Class

Fidelity VIP Growth Opportunities Portfolio, Initial Class

Fidelity VIP Growth Portfolio, Initial Class

Fidelity VIP High Income Portfolio, Initial Class

Fidelity VIP Index 500 Portfolio, Initial Class

Fidelity VIP International Capital Appreciation Portfolio, Service Class 2

Fidelity VIP Investment Grade Bond Portfolio, Initial Class

Fidelity VIP Overseas Portfolio, Initial Class

First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I

Franklin Income VIP Fund, Class 4

Goldman Sachs VIT Large Cap Value Fund, Institutional Class

Goldman Sachs VIT Multi-Strategy Alternatives Portfolio^(a)

Goldman Sachs VIT Strategic Growth Fund, Institutional Class

Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class

Goldman Sachs VIT U.S. Equity Insights Fund, Service Class

Invesco V.I. Core Equity Fund, Series II

Invesco V.I. Core Plus Bond Fund, Series II

Invesco V.I. EQV International Equity Fund, Series II

Invesco V.I. Global Real Estate Fund, Series II

Invesco V.I. Growth and Income Fund, Series II

Invesco V.I. International Growth Fund, Series II

Invesco V.I. Main Street Small Cap Fund, Series II

Invesco V.I. Small Cap Equity Fund, Series II

Janus Henderson VIT Balanced Portfolio, Service Shares

Janus Henderson VIT Enterprise Portfolio, Service Shares

Janus Henderson VIT Flexible Bond Portfolio, Service Shares

Janus Henderson VIT Mid Cap Value Portfolio, Service Shares

Janus Henderson VIT Overseas Portfolio, Institutional Shares

Janus Henderson VIT Overseas Portfolio, Service Shares

Lazard Retirement US Small Cap Equity Select Portfolio, Service Shares *

Lord Abbett Series Fund Developing Growth Portfolio, Class VC

LVIP American Century Inflation Protection Fund, Service Class^(a)

LVIP American Century Mid Cap Value Fund, Service Class^(a)

LVIP American Century Value Fund, Service Class^(a)

LVIP JPMorgan Small Cap Core Fund, Service Class

LVIP Nomura U.S. REIT Fund, Service Class^(a)

MFS VIT II Blended Research Core Equity Portfolio, Service Class

MFS VIT II International Growth Portfolio, Service Class

MFS VIT II Technology Portfolio, Service Class

MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class

Morgan Stanley VIF Discovery Portfolio, Class II *

Neuberger Berman AMT Quality Equity Portfolio, Class S^(a)

Nomura VIP Emerging Markets Series, Service Class^(a)

Nomura VIP Energy Series, Service Class^(a)

Nomura VIP International Core Equity Series, Service Class^(a)

Nomura VIP Small Cap Value Series, Service Class^(a)

NVIT Fidelity Institutional AM Emerging Markets Fund, Class D^(a)

PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class

PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class

PIMCO VIT Low Duration Portfolio, Advisor Class

PIMCO VIT Real Return Portfolio, Advisor Class

PIMCO VIT Short-Term Portfolio, Advisor Class

PIMCO VIT Total Return Portfolio, Advisor Class

Putnam VT Core Equity Fund, Class IB

Putnam VT Emerging Markets Equity Fund, Class IB

Putnam VT Focused International Equity Fund, Class IB

Putnam VT Global Asset Allocation Fund, Class IB

Putnam VT Income Fund, Class IB

Putnam VT International Equity Fund, Class IB

Putnam VT International Value Fund, Class IB

Putnam VT Large Cap Growth Fund, Class IB

Putnam VT Large Cap Value Fund, Class IB

Putnam VT Mortgage Securities Fund, Class IB

Putnam VT Research Fund, Class IB

Putnam VT Small Cap Growth Fund, Class IB

Putnam VT Small Cap Value Fund, Class IB

T. Rowe Price Blue Chip Growth Portfolio, Class II

T. Rowe Price Health Sciences Portfolio, Class II

VanEck VIP Emerging Markets Fund, Initial Class

VanEck VIP Global Resources Fund, Class S

VanEck VIP Global Resources Fund, Initial Class

* Contract owners held no investments in this Subaccount during 2025 or 2024. As such, no financial statements or notes are presented for this Subaccount

^(a) See Subaccount Changes table below

Subaccount Changes: Liquidations

During 2025 and 2024, the following Subaccounts were liquidated:

Subaccount Name	Date of Liquidation
DWS Capital Growth VIP, Class B	June 17, 2024
DWS CROCI U.S. VIP, Class B	June 17, 2024
DWS Global Small Cap VIP, Class B	June 17, 2024
Empower Government Money Market Fund, Investor Class	June 14, 2024
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio	April 11, 2025

Subaccount Changes: Mergers

During 2024, the following Subaccounts were merged:

Original Subaccount	Merged Into	Date of Merger
Delaware VIP International Series, Service Class	Delaware Ivy VIP International Core Equity Series, Service Class	April 26, 2024
Empower Ariel Mid Cap Value Fund, Investor Class	Empower Mid Cap Value Fund, Investor Class	October 25, 2024

Subaccount Changes: Subaccounts Reorganizations

During 2024, the following Subaccounts were reorganized:

Previous Name	New Name	Date of Reorganization
American Century Investments VP Inflation Protection Fund, Class II	LVIP American Century Inflation Protection Fund, Service Class	April 26, 2024
American Century Investments VP Mid Cap Value Fund, Class II	LVIP American Century Mid Cap Value Fund, Service Class	April 26, 2024
American Century Investments VP Value Fund, Class I	LVIP American Century Value Fund, Service Class	April 26, 2024

Subaccount Changes: Name Changes

During 2025 and 2024, the following Subaccounts changed their names:

Previous Name	New Name	Date of Change
Fidelity VIP Asset Manager Portfolio, Initial Class	Fidelity VIP Asset Manager 50% Portfolio, Initial Class	April 30, 2025
LVIP Delaware US REIT Fund, Service Class	LVIP Macquarie US REIT Fund, Service Class	May 1, 2024
LVIP Macquarie US REIT Fund, Service Class	LVIP Nomura U.S. REIT Fund, Service Class	December 1, 2025
Delaware VIP Emerging Markets, Service Class	Macquarie VIP Emerging Markets, Service Class	May 1, 2024
Delaware Ivy VIP Energy, Class II	Macquarie VIP Energy, Service Class	May 1, 2024
Delaware Ivy VIP International Core Equity Series, Service Class	Macquarie VIP International Core Equity Series, Service Class	May 1, 2024
Delaware VIP Small Cap Value Series, Service Class	Macquarie VIP Small Cap Value Series, Service Class	May 1, 2024
Neuberger Berman AMT Sustainable Equity Portfolio, Class S	Neuberger Berman AMT Quality Equity Portfolio, Class S	July 28, 2025
Macquarie VIP Emerging Markets Series, Service Class	Nomura VIP Emerging Markets Series, Service Class	December 1, 2025
Macquarie VIP Energy Series, Service Class	Nomura VIP Energy Series, Service Class	December 1, 2025
Macquarie VIP International Core Equity Series, Service Class	Nomura VIP International Core Equity Series, Service Class	December 1, 2025
Macquarie VIP Small Cap Value Series, Service Class	Nomura VIP Small Cap Value Series, Service Class	December 1, 2025
NVIT Emerging Markets Fund, Class D	NVIT Fidelity Institutional AM Emerging Markets Fund, Class D	March 3, 2025

Subaccount Changes: Trading Commencements

During 2024, the following Subaccounts commenced trading:

Subaccount Name	Date Trading Commenced
Nomura VIP International Core Equity Series, Service Class	April 26, 2024

The financial statements are presented based on the periods noted in the above Subaccount Changes tables which may result in the exclusion from certain financial statements.

Each product within the Separate Account is unique; as such, all Subaccounts available for investment within the Separate Account may not be available for investment under each product.

The Separate Account is an investment company and, therefore, applies specialized accounting guidance in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 “Financial Services — Investment Companies”.

100

SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies of the Separate Account.

Investment valuation

Investments are made and measured in shares and are presented net of management fees and other operating expenses incurred by the Subaccounts. The investments are valued at the net asset values of the mutual funds, which value their investment securities at fair value. Transactions with the mutual funds are recognized on the trade date.

The Separate Account classifies its valuations into three levels based upon the observability of inputs to the valuation of the Separate Account’s investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

Level 1 – Unadjusted quoted prices for identical securities in active markets.

Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.

Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect the reporting entity’s own assumptions and would be based on the best information available under the circumstances.

The Separate Account determines the fair values of certain financial assets based on quoted market prices. All of the investments in the Subaccounts of the Separate Account are classified as Level 1 in the fair value hierarchy and consist of open-ended mutual funds. Participants may, without restriction, transact at the daily net asset value (“NAV”) of the mutual funds. The NAV represents the daily per share value based on the fair value of the underlying portfolio of investments of the respective Subaccounts.

Receivable from dividends

Receivable from dividends include dividends declared by the fund managers that have not yet been reinvested in accordance with the Subaccounts’ designated reinvestment dates.

Receivables and payables from (to) the Contracts and the fund manager

Receivables and payables from (to) the Contracts and the fund manager include trading activity initiated at the Contract level from the last business day of the year that has not yet been settled with the fund manager.

Receivables and payables from (to) the Company

Receivables and payables from (to) the Company include accruals for the variance between investments and reserves applicable to the Subaccount.

Contracts in the annuity payout period

Net assets allocated to Contracts in the annuity period are computed according to the Annuity 2000 Mortality Table with an assumed investment return of 5%. The mortality risk is fully borne by the Company and may result in additional amounts being transferred into the Separate Account by the Company to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to the Company for the calculated or excess differential. Any adjustments to these amounts are reflected in net transfers (to) from the Company and/or Subaccounts on the Statements of Changes in Net Assets of the applicable Subaccounts.

101

Dividend income and capital gain distributions

Dividend income and capital gain distributions are recorded on the ex-dividend date and are reinvested in additional shares of the mutual funds. Ordinary dividend and capital gain distributions are recognized within net investment income and net realized gains, respectively, as recorded in the financial statements of the Subaccounts.

Net realized gains and losses

Net realized gains and losses on investments include gains and losses on redemptions of the Subaccounts’ shares (determined for each product using the first-in-first-out (FIFO) basis) and capital gain distributions from the mutual funds.

Net transfers (to) from the Company and/or Subaccounts

Net transfers (to) from the Company and/or Subaccounts include transfers between the Subaccounts of the Separate Account as well as transfers between the Separate Account and the Company.

Federal income taxes

The results of the operations of the Separate Account are included in the federal income tax return of the Company. Under the provisions of the Contracts, the Company has the right to charge the Separate Account for federal income tax attributable to the Separate Account. No charge has been made against the Separate Account for such tax during the year ended December 31, 2025. Management will periodically review the application of this policy in the event of changes in tax law. Accordingly, a change may be made in future years to consider charges for any federal income taxes that would be attributable to the Contracts.

Use of estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that could affect the reported amounts of assets and liabilities, as well as the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from the estimates reported in the accompanying financial statements.

Risks and uncertainties

The Separate Account provides for various investment options in any combination of Subaccounts, each of which bears exposure to the market, credit, and liquidity risks of the underlying portfolio in which it invests. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is at least reasonably possible that changes in risks in the near term could materially affect investment balances, the amounts reported in the statements of assets and liabilities, of operations and of changes in net assets. Accordingly, these financial statements should be read in conjunction with the financial statements and notes of the underlying Subaccounts identified in note 1, Organization.

102

PURCHASES AND SALES OF INVESTMENTS

The cost of purchases and proceeds from sales of investments for the year or period ended (as designated in note 1, Organization, if applicable) December 31, 2025 were as follows:

Subaccount	Purchases		Sales
Alger Capital Appreciation Portfolio, Class I-2	$	375,545	$	308,074
Alger Large Cap Growth Portfolio, Class I-2		215,050		201,659
Alger Mid Cap Growth Portfolio, Class I-2		65,988		255,176
Alger Small Cap Growth Portfolio, Class I-2		23,991		36,575
ALPS Alerian Energy Infrastructure Portfolio, Class III		219,039		508,098
ALPS Global Opportunity Portfolio, Class III		67,914		149,972
American Funds IS Capital World Growth and Income Fund, Class 4		389,186		790,819
American Funds IS Growth Fund, Class 4		8,301,646		8,069,655
American Funds IS Growth-Income Fund, Class 4		1,587,153		1,296,788
American Funds IS International Fund, Class 4		112,634		596,563
American Funds IS New World Fund, Class 4		230,434		602,913
American Funds IS Washington Mutual Investors Fund, Class 4		950,310		1,108,364
BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III		66,387		6,549
BlackRock Global Allocation V.I. Fund, Class III		501,223		900,750
BlackRock High Yield V.I. Fund, Class III		2,523,667		3,352,502
BNY Mellon IP Technology Growth Portfolio, Service Shares		205,002		8,774
BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares		44,795		26,076
BNY Mellon VIF Appreciation Portfolio, Initial Shares		29,374		11,638
BNY Mellon VIF Appreciation Portfolio, Service Shares		118,402		234,965
BNY Mellon VIF Growth and Income Portfolio, Initial Shares		35,584		38,165
ClearBridge Variable Large Cap Growth Portfolio, Class II		285,128		1,010,351
ClearBridge Variable Mid Cap Portfolio, Class II		42,934		78,932
ClearBridge Variable Small Cap Growth Portfolio, Class II		217,945		513,068
Columbia VP Select Small Cap Value Fund, Class 2		9,079		17,412
Columbia VP Seligman Global Technology Fund, Class 1		843,998		1,467,691
Columbia VP Seligman Global Technology Fund, Class 2		44,355		96,751
Columbia VP Small Cap Value Fund, Class 2		5,212		81
Columbia VP Strategic Income Fund, Class 2		440,387		459,748
Dimensional VA Equity Allocation Portfolio, Institutional		32,774		6,512
Dimensional VA Global Bond Portfolio, Institutional		2,329		233
Dimensional VA Global Moderate Allocation Portfolio, Institutional		39,661		1,035,034
Dimensional VA International Small Portfolio, Institutional		55,978		271,050
Dimensional VA International Value Portfolio, Institutional		75,023		422,007
Dimensional VA Short-Term Fixed Portfolio, Institutional		139,679		6,520
Dimensional VA US Large Value Portfolio, Institutional		379,594		902,262
Dimensional VA US Targeted Value Portfolio, Institutional		185,561		453,244
DWS Small Mid Cap Value VIP, Class B		36,636		794
Eaton Vance VT Floating-Rate Income Fund, Initial Class		374,462		1,100,543
Empower Aggressive Profile Fund, Investor Class		518,147		1,013,594
Empower Bond Index Fund, Investor Class		1,921,555		4,718,115
Empower Conservative Profile Fund, Class L		1,807,708		1,877,916
Empower Conservative Profile Fund, Investor Class		1,405,081		1,876,598
Empower Core Bond Fund, Investor Class		4,005,718		977,288
Empower Emerging Markets Equity Fund, Investor Class		24,724		248,105
Empower Global Bond Fund, Investor Class		117,324		489,333

103

Subaccount	Purchases		Sales
Empower High Yield Bond Fund, Investor Class	$	1,293,162	$	1,618,928
Empower Inflation-Protected Securities Fund, Investor Class		10,170		100,684
Empower International Growth Fund, Investor Class		39,578		149,661
Empower International Index Fund, Investor Class		622,582		3,507,647
Empower International Value Fund, Investor Class		865,147		1,133,122
Empower Large Cap Growth Fund, Investor Class		2,012,456		1,833,820
Empower Large Cap Value Fund, Investor Class		94,111		763,466
Empower Lifetime 2015 Fund, Investor Class		66,002		75,089
Empower Lifetime 2020 Fund, Investor Class		17,518		15,352
Empower Lifetime 2025 Fund, Investor Class		55,914		48,654
Empower Lifetime 2030 Fund, Investor Class		84,272		187,109
Empower Lifetime 2035 Fund, Investor Class		23,873		9,745
Empower Lifetime 2040 Fund, Investor Class		20,963		5,761
Empower Lifetime 2045 Fund, Investor Class		6,104		10,704
Empower Lifetime 2050 Fund, Investor Class		36,432		35,047
Empower Lifetime 2055 Fund, Investor Class		6,966		24,345
Empower Mid Cap Value Fund, Investor Class		313,927		364,025
Empower Moderate Profile Fund, Class L		4,093,448		22,548,007
Empower Moderate Profile Fund, Investor Class		3,059,509		7,798,408
Empower Moderately Aggressive Profile Fund, Investor Class		1,353,001		2,366,757
Empower Moderately Conservative Profile Fund, Class L		2,338,853		4,877,057
Empower Moderately Conservative Profile Fund, Investor Class		793,396		3,323,974
Empower Multi-Sector Bond Fund, Investor Class		951,644		671,720
Empower Real Estate Index Fund, Investor Class		221,147		390,441
Empower S&P 500 Index Fund, Investor Class		5,511,860		16,082,070
Empower S&P Mid Cap 400 Index Fund, Investor Class		1,796,548		2,114,790
Empower S&P Small Cap 600 Index Fund, Investor Class		1,364,263		2,429,989
Empower SecureFoundation Balanced Fund, Class L		8,931,237		42,749,980
Empower Short Duration Bond Fund, Investor Class		371,413		2,727,563
Empower Small Cap Growth Fund, Investor Class		59,751		196,396
Empower Small Cap Value Fund, Investor Class		154,052		483,812
Empower T. Rowe Price Mid Cap Growth Fund, Investor Class		233,008		1,998,339
Empower U.S. Government Securities Fund, Investor Class		538,185		314,102
Federated Hermes High Income Bond Fund II, Service Shares		104,391		145,934
Fidelity VIP Asset Manager 50% Portfolio, Initial Class		91,601		311,862
Fidelity VIP Balanced Portfolio, Service Class 2		1,965,784		9,744,227
Fidelity VIP Contrafund Portfolio, Initial Class		261,729		393,254
Fidelity VIP Government Money Market Portfolio, Initial Class		35,462,726		43,526,763
Fidelity VIP Growth Opportunities Portfolio, Initial Class		5,711		34,933
Fidelity VIP Growth Portfolio, Initial Class		576,515		429,251
Fidelity VIP High Income Portfolio, Initial Class		7,846		5,225
Fidelity VIP Index 500 Portfolio, Initial Class		25,735		104,725
Fidelity VIP International Capital Appreciation Portfolio, Service Class 2		2,667,336		812,464
Fidelity VIP Investment Grade Bond Portfolio, Initial Class		6,508		8,719
Fidelity VIP Overseas Portfolio, Initial Class		72,743		27,024
First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I		61,351		153,005
Franklin Income VIP Fund, Class 4		454,311		1,093,999
Goldman Sachs VIT Large Cap Value Fund, Institutional Class		46,197		5,763
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio		8		324,539

104

Subaccount	Purchases		Sales
Goldman Sachs VIT Strategic Growth Fund, Institutional Class	$	2,468	$	34,145
Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class		10,947		1,935
Goldman Sachs VIT U.S. Equity Insights Fund, Service Class		573,068		1,413,058
Invesco V.I. Core Equity Fund, Series II		9,229		156,936
Invesco V.I. Core Plus Bond Fund, Series II		10,865		132,842
Invesco V.I. EQV International Equity Fund, Series II		33,725		294,976
Invesco V.I. Global Real Estate Fund, Series II		39,888		204,473
Invesco V.I. Growth and Income Fund, Series II		250,813		1,097,986
Invesco V.I. International Growth Fund, Series II		32,447		87,039
Invesco V.I. Main Street Small Cap Fund, Series II		220,285		407,901
Invesco V.I. Small Cap Equity Fund, Series II		5,172		2,618
Janus Henderson VIT Balanced Portfolio, Service Shares		762,457		2,446,861
Janus Henderson VIT Enterprise Portfolio, Service Shares		564,789		2,359,567
Janus Henderson VIT Flexible Bond Portfolio, Service Shares		155,263		233,522
Janus Henderson VIT Mid Cap Value Portfolio, Service Shares		16,171		4,565
Janus Henderson VIT Overseas Portfolio, Institutional Shares		2,326		2,857
Janus Henderson VIT Overseas Portfolio, Service Shares		480		2,209
Lord Abbett Series Fund Developing Growth Portfolio, Class VC		448		16,266
LVIP American Century Inflation Protection Fund, Service Class		28,095		263,309
LVIP American Century Mid Cap Value Fund, Service Class		387,287		754,915
LVIP American Century Value Fund, Service Class		435,757		1,013,553
LVIP JPMorgan Small Cap Core Fund, Service Class		34,353		27,541
LVIP Nomura U.S. REIT Fund, Service Class		5,915		74,239
MFS VIT II Blended Research Core Equity Portfolio, Service Class		658,595		291,513
MFS VIT II International Growth Portfolio, Service Class		27,977		63,968
MFS VIT II Technology Portfolio, Service Class		6,533,244		7,749,407
MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class		279,853		1,174,204
Neuberger Berman AMT Quality Equity Portfolio, Class S		111,782		347,096
Nomura VIP Emerging Markets Series, Service Class		57,573		240,156
Nomura VIP Energy Series, Service Class		29,760		205,996
Nomura VIP International Core Equity Series, Service Class		17,611		80,875
Nomura VIP Small Cap Value Series, Service Class		139,839		368,637
NVIT Fidelity Institutional AM Emerging Markets Fund, Class D		153		3,734
PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class		49,846		221,613
PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class		1,283,104		1,325,293
PIMCO VIT Low Duration Portfolio, Advisor Class		375,776		642,666
PIMCO VIT Real Return Portfolio, Advisor Class		214,127		240,213
PIMCO VIT Short-Term Portfolio, Advisor Class		1,506,587		2,795,869
PIMCO VIT Total Return Portfolio, Advisor Class		2,537,899		3,140,771
Putnam VT Core Equity Fund, Class IB		167,047		241,142
Putnam VT Emerging Markets Equity Fund, Class IB		297		551
Putnam VT Focused International Equity Fund, Class IB		19,502		181,515
Putnam VT Global Asset Allocation Fund, Class IB		163,510		138,150
Putnam VT Income Fund, Class IB		209,737		236,288
Putnam VT International Equity Fund, Class IB		357,500		209,180
Putnam VT International Value Fund, Class IB		210,417		34,192
Putnam VT Large Cap Growth Fund, Class IB		1,031,468		2,266,607
Putnam VT Large Cap Value Fund, Class IB		80,034		22,761
Putnam VT Mortgage Securities Fund, Class IB		35,372		5,833

105

Subaccount	Purchases		Sales
Putnam VT Research Fund, Class IB	$	82,562	$	475,633
Putnam VT Small Cap Growth Fund, Class IB		15,630		123,956
Putnam VT Small Cap Value Fund, Class IB		58,247		205,356
T. Rowe Price Blue Chip Growth Portfolio, Class II		3,215,717		6,717,757
T. Rowe Price Health Sciences Portfolio, Class II		293,612		1,921,656
VanEck VIP Emerging Markets Fund, Initial Class		29,657		2,686
VanEck VIP Global Resources Fund, Class S		29,421		155,766
VanEck VIP Global Resources Fund, Initial Class		69,730		52,789

106

CHANGES IN UNITS OUTSTANDING

The changes in units outstanding for the years or periods ended (as designated in note 1, Organization, if applicable) December 31, 2025 and 2024 were as follows:

	2025								2024
Subaccount	Units Issued			Units Redeemed		Net Increase (Decrease)			Units Issued			Units Redeemed		Net Increase (Decrease)
Alger Capital Appreciation Portfolio, Class I-2		8			686		(678	)		196			714		(518	)
Alger Large Cap Growth Portfolio, Class I-2		110			517		(407	)		23			990		(967	)
Alger Mid Cap Growth Portfolio, Class I-2		356			1,372		(1,016	)		577			1,102		(525	)
Alger Small Cap Growth Portfolio, Class I-2		121			205		(84	)		643			2,387		(1,744	)
ALPS Alerian Energy Infrastructure Portfolio, Class III		5,995			23,758		(17,763	)		2,981			25,806		(22,825	)
ALPS Global Opportunity Portfolio, Class III		770			7,238		(6,468	)		4,290			18,062		(13,772	)
American Funds IS Capital World Growth and Income Fund, Class 4		9,757			40,600		(30,843	)		1,903			174,984		(173,081	)
American Funds IS Growth Fund, Class 4		242,306			278,327		(36,021	)		138,881			230,325		(91,444	)
American Funds IS Growth-Income Fund, Class 4		40,036			57,217		(17,181	)		83,757			268,310		(184,553	)
American Funds IS International Fund, Class 4		5,519			39,402		(33,883	)		3,262			57,118		(53,856	)
American Funds IS New World Fund, Class 4		4,086			30,903		(26,817	)		6,062			35,431		(29,369	)
American Funds IS Washington Mutual Investors Fund, Class 4		30,681			53,077		(22,396	)		7,077			120,939		(113,862	)
BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III		4,171			420		3,751			4,470			4,799		(329	)
BlackRock Global Allocation V.I. Fund, Class III		4,135			56,615		(52,480	)		22,050			116,701		(94,651	)
BlackRock High Yield V.I. Fund, Class III		148,508			227,353		(78,845	)		207,308			252,776		(45,468	)
BNY Mellon IP Technology Growth Portfolio, Service Shares		0	*		112		(112	)		-			4,245		(4,245	)
BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares		-			128		(128	)		-			207		(207	)
BNY Mellon VIF Appreciation Portfolio, Initial Shares		5			56		(51	)		-			840		(840	)
BNY Mellon VIF Appreciation Portfolio, Service Shares		0	*		5,449		(5,449	)		-			1,428		(1,428	)
BNY Mellon VIF Growth and Income Portfolio, Initial Shares		-			216		(216	)		87			567		(480	)
ClearBridge Variable Large Cap Growth Portfolio, Class II		1,307			35,617		(34,310	)		12,885			136,631		(123,746	)
ClearBridge Variable Mid Cap Portfolio, Class II		-			4,781		(4,781	)		-			23,391		(23,391	)
ClearBridge Variable Small Cap Growth Portfolio, Class II		2,163			26,007		(23,844	)		4,530			106,867		(102,337	)
Columbia VP Select Small Cap Value Fund, Class 2		336			523		(187	)		2,790			7,091		(4,301	)
Columbia VP Seligman Global Technology Fund, Class 1		50			12,512		(12,462	)		671			7,664		(6,993	)
Columbia VP Seligman Global Technology Fund, Class 2		13			377		(364	)		190			120		70
Columbia VP Small Cap Value Fund, Class 2		-			-		-			-			-		-
Columbia VP Strategic Income Fund, Class 2		28,729			37,178		(8,449	)		11,476			57,185		(45,709	)
Delaware VIP International Series, Service Class		-			-		-			0	*		21,147		(21,147	)
Dimensional VA Equity Allocation Portfolio, Institutional		5			57		(52	)		99			33		66
Dimensional VA Global Bond Portfolio, Institutional		97			6		91			237			4,396		(4,159	)
Dimensional VA Global Moderate Allocation Portfolio, Institutional		-			57,139		(57,139	)		99,720			1,956		97,764

107

	2025								2024
Subaccount	Units Issued			Units Redeemed		Net Increase (Decrease)			Units Issued			Units Redeemed		Net Increase (Decrease)
Dimensional VA International Small Portfolio, Institutional		2,885			22,418		(19,533	)		2,898			26,771		(23,873	)
Dimensional VA International Value Portfolio, Institutional		937			28,700		(27,763	)		670			24,235		(23,565	)
Dimensional VA Short-Term Fixed Portfolio, Institutional		10,234			280		9,954			47,225			2,204		45,021
Dimensional VA US Large Value Portfolio, Institutional		9,994			51,439		(41,445	)		6,144			48,296		(42,152	)
Dimensional VA US Targeted Value Portfolio, Institutional		6,355			24,492		(18,137	)		1,643			79,832		(78,189	)
DWS Capital Growth VIP, Class B		-			-		-			0	*		34,254		(34,254	)
DWS CROCI U.S. VIP, Class B		-			-		-			0	*		2,647		(2,647	)
DWS Global Small Cap VIP, Class B		-			-		-			0	*		1,551		(1,551	)
DWS Small Mid Cap Value VIP, Class B		-			-		-			-			84		(84	)
Eaton Vance VT Floating-Rate Income Fund, Initial Class		10,502			81,508		(71,006	)		50,244			166,364		(116,120	)
Empower Aggressive Profile Fund, Investor Class		6,800			53,458		(46,658	)		7,029			93,370		(86,341	)
Empower Ariel Mid Cap Value Fund, Investor Class		-			-		-			1,135			70,105		(68,970	)
Empower Bond Index Fund, Investor Class		150,302			437,380		(287,078	)		129,165			299,144		(169,979	)
Empower Conservative Profile Fund, Class L		142,257			151,498		(9,241	)		174,167			406,312		(232,145	)
Empower Conservative Profile Fund, Investor Class		92,618			146,420		(53,802	)		132,098			151,300		(19,202	)
Empower Core Bond Fund, Investor Class		329,902			85,112		244,790			96,110			151,667		(55,557	)
Empower Emerging Markets Equity Fund, Investor Class		1,828			23,209		(21,381	)		2,517			24,566		(22,049	)
Empower Global Bond Fund, Investor Class		7,774			53,159		(45,385	)		26,584			135,403		(108,819	)
Empower Government Money Market Fund, Investor Class		-			-		-			1,388,503			5,783,795		(4,395,292	)
Empower High Yield Bond Fund, Investor Class		90,749			115,928		(25,179	)		11,933			27,849		(15,916	)
Empower Inflation-Protected Securities Fund, Investor Class		108			8,839		(8,731	)		1,599			15,966		(14,367	)
Empower International Growth Fund, Investor Class		314			10,125		(9,811	)		2,468			37,390		(34,922	)
Empower International Index Fund, Investor Class		14,207			205,464		(191,257	)		73,989			160,316		(86,327	)
Empower International Value Fund, Investor Class		32,974			55,273		(22,299	)		6,523			47,925		(41,402	)
Empower Large Cap Growth Fund, Investor Class		33,425			47,952		(14,527	)		35,222			67,486		(32,264	)
Empower Large Cap Value Fund, Investor Class		2,064			43,271		(41,207	)		62,248			97,394		(35,146	)
Empower Lifetime 2015 Fund, Investor Class		2,268			4,851		(2,583	)		2,416			11,374		(8,958	)
Empower Lifetime 2020 Fund, Investor Class		13			912		(899	)		1,247			61,551		(60,304	)
Empower Lifetime 2025 Fund, Investor Class		60			2,508		(2,448	)		66			123,551		(123,485	)
Empower Lifetime 2030 Fund, Investor Class		-			9,316		(9,316	)		-			12,546		(12,546	)
Empower Lifetime 2035 Fund, Investor Class		18			339		(321	)		55			86,499		(86,444	)
Empower Lifetime 2040 Fund, Investor Class		2			81		(79	)		16,539			5,505		11,034
Empower Lifetime 2045 Fund, Investor Class		0	*		532		(532	)		-			13,256		(13,256	)
Empower Lifetime 2050 Fund, Investor Class		201			1,516		(1,315	)		2,146			2,866		(720	)
Empower Lifetime 2055 Fund, Investor Class		-			1,092		(1,092	)		-			14,353		(14,353	)
Empower Mid Cap Value Fund, Investor Class		9,172			17,716		(8,544	)		48,509			24,719		23,790

108

	2025								2024
Subaccount	Units Issued			Units Redeemed		Net Increase (Decrease)			Units Issued		Units Redeemed		Net Increase (Decrease)
Empower Moderate Profile Fund, Class L		82,853			1,466,681		(1,383,828	)		107,927		2,751,372		(2,643,445	)
Empower Moderate Profile Fund, Investor Class		711			489,915		(489,204	)		36,345		949,302		(912,957	)
Empower Moderately Aggressive Profile Fund, Investor Class		42,431			136,085		(93,654	)		8		216,825		(216,817	)
Empower Moderately Conservative Profile Fund, Class L		138,789			347,691		(208,902	)		33,850		445,183		(411,333	)
Empower Moderately Conservative Profile Fund, Investor Class		3,719			223,845		(220,126	)		73,234		256,808		(183,574	)
Empower Multi-Sector Bond Fund, Investor Class		50,214			48,718		1,496			30,245		122,233		(91,988	)
Empower Real Estate Index Fund, Investor Class		10,787			27,056		(16,269	)		6,657		61,672		(55,015	)
Empower S&P 500 Index Fund, Investor Class		159,848			502,208		(342,360	)		289,722		860,002		(570,280	)
Empower S&P Mid Cap 400 Index Fund, Investor Class		40,680			91,930		(51,250	)		17,249		283,828		(266,579	)
Empower S&P Small Cap 600 Index Fund, Investor Class		27,914			123,623		(95,709	)		54,654		294,943		(240,289	)
Empower SecureFoundation Balanced Fund, Class L		109,652			2,493,675		(2,384,023	)		169,377		3,826,245		(3,656,868	)
Empower Short Duration Bond Fund, Investor Class		21,099			225,013		(203,914	)		46,407		279,134		(232,727	)
Empower Small Cap Growth Fund, Investor Class		1,255			8,612		(7,357	)		3,514		122,693		(119,179	)
Empower Small Cap Value Fund, Investor Class		4,721			26,588		(21,867	)		18,261		27,770		(9,509	)
Empower T. Rowe Price Mid Cap Growth Fund, Investor Class		4,246			82,989		(78,743	)		16,576		160,132		(143,556	)
Empower U.S. Government Securities Fund, Investor Class		45,815			29,201		16,614			17,941		78,062		(60,121	)
Federated Hermes High Income Bond Fund II, Service Shares		6,891			11,449		(4,558	)		6,826		41,089		(34,263	)
Fidelity VIP Asset Manager 50% Portfolio, Initial Class		155			3,967		(3,812	)		6		1,350		(1,344	)
Fidelity VIP Balanced Portfolio, Service Class 2		12,661			446,510		(433,849	)		57,791		772,060		(714,269	)
Fidelity VIP Contrafund Portfolio, Initial Class		190			1,660		(1,470	)		353		2,270		(1,917	)
Fidelity VIP Government Money Market Portfolio, Initial Class		3,263,659			4,125,482		(861,823	)		4,891,137		1,935,298		2,955,839
Fidelity VIP Growth Opportunities Portfolio, Initial Class		-			181		(181	)		74		201		(127	)
Fidelity VIP Growth Portfolio, Initial Class		4			843		(839	)		365		1,061		(696	)
Fidelity VIP High Income Portfolio, Initial Class		-			50		(50	)		-		130		(130	)
Fidelity VIP Index 500 Portfolio, Initial Class		1			98		(97	)		13		579		(566	)
Fidelity VIP International Capital Appreciation Portfolio, Service Class 2		135,241			42,803		92,438			22,156		54,594		(32,438	)
Fidelity VIP Investment Grade Bond Portfolio, Initial Class		53			204		(151	)		546		664		(118	)
Fidelity VIP Overseas Portfolio, Initial Class		957			381		576			-		38		(38	)
First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I		1,234			10,132		(8,898	)		-		32,971		(32,971	)
Franklin Income VIP Fund, Class 4		13,027			67,753		(54,726	)		2,081		105,288		(103,207	)
Goldman Sachs VIT Large Cap Value Fund, Institutional Class		27			44		(17	)		907		979		(72	)
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio		1			30,716		(30,715	)		-		31,405		(31,405	)
Goldman Sachs VIT Strategic Growth Fund, Institutional Class		0	*		435		(435	)		435		-		435
Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class		18			19		(1	)		20		18		2
Goldman Sachs VIT U.S. Equity Insights Fund, Service Class		13,263			49,026		(35,763	)		32,176		62,031		(29,855	)
Invesco V.I. Core Equity Fund, Series II		-			6,161		(6,161	)		-		32		(32	)

109

	2025								2024
Subaccount	Units Issued			Units Redeemed		Net Increase (Decrease)			Units Issued		Units Redeemed		Net Increase (Decrease)
Invesco V.I. Core Plus Bond Fund, Series II		210			12,701		(12,491	)		5,521		70,253		(64,732	)
Invesco V.I. EQV International Equity Fund, Series II		218			16,760		(16,542	)		14		25,441		(25,427	)
Invesco V.I. Global Real Estate Fund, Series II		2,870			17,359		(14,489	)		1,884		31,397		(29,513	)
Invesco V.I. Growth and Income Fund, Series II		127			44,131		(44,004	)		4,149		87,018		(82,869	)
Invesco V.I. International Growth Fund, Series II		-			6,279		(6,279	)		51		37,233		(37,182	)
Invesco V.I. Main Street Small Cap Fund, Series II		2,268			19,675		(17,407	)		2,486		37,306		(34,820	)
Invesco V.I. Small Cap Equity Fund, Series II		-			114		(114	)		-		2,543		(2,543	)
Janus Henderson VIT Balanced Portfolio, Service Shares		3,901			113,081		(109,180	)		28,159		335,815		(307,656	)
Janus Henderson VIT Enterprise Portfolio, Service Shares		3,748			83,599		(79,851	)		6,440		100,370		(93,930	)
Janus Henderson VIT Flexible Bond Portfolio, Service Shares		8,395			19,564		(11,169	)		14,968		74,457		(59,489	)
Janus Henderson VIT Mid Cap Value Portfolio, Service Shares		-			137		(137	)		-		471		(471	)
Janus Henderson VIT Overseas Portfolio, Institutional Shares		33			47		(14	)		418		893		(475	)
Janus Henderson VIT Overseas Portfolio, Service Shares		-			104		(104	)		-		107		(107	)
Lord Abbett Series Fund Developing Growth Portfolio, Class VC		-			774		(774	)		-		936		(936	)
LVIP American Century Inflation Protection Fund, Service Class		413			23,066		(22,653	)		13,426		47,963		(34,537	)
LVIP American Century Mid Cap Value Fund, Service Class		3,022			30,037		(27,015	)		6,084		103,239		(97,155	)
LVIP American Century Value Fund, Service Class		1,147			48,715		(47,568	)		2,988		333,774		(330,786	)
LVIP JPMorgan Small Cap Core Fund, Service Class		691			1,893		(1,202	)		11,630		18,554		(6,924	)
LVIP Nomura U.S. REIT Fund, Service Class		0	*		3,832		(3,832	)		1,375		54,733		(53,358	)
MFS VIT II Blended Research Core Equity Portfolio, Service Class		3,143			9,943		(6,800	)		38,481		55,219		(16,738	)
MFS VIT II International Growth Portfolio, Service Class		896			4,139		(3,243	)		710		8,337		(7,627	)
MFS VIT II Technology Portfolio, Service Class		119,534			185,790		(66,256	)		71,197		111,950		(40,753	)
MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class		4,446			65,563		(61,117	)		1,629		22,039		(20,410	)
Neuberger Berman AMT Quality Equity Portfolio, Class S		1,291			7,940		(6,649	)		-		17,541		(17,541	)
Nomura VIP Emerging Markets Series, Service Class		1,737			14,407		(12,670	)		6,803		79,185		(72,382	)
Nomura VIP Energy Series, Service Class		2,287			24,641		(22,354	)		7,907		41,596		(33,689	)
Nomura VIP International Core Equity Series, Service Class		980			6,785		(5,805	)		18,640		6,032		12,608
Nomura VIP Small Cap Value Series, Service Class		1,630			15,905		(14,275	)		3,477		32,845		(29,368	)
NVIT Fidelity Institutional AM Emerging Markets Fund, Class D		-			269		(269	)		-		166		(166	)
PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class		1,302			20,754		(19,452	)		7,337		160,543		(153,206	)
PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class		129,590			144,595		(15,005	)		38,544		85,361		(46,817	)
PIMCO VIT Low Duration Portfolio, Advisor Class		22,506			57,043		(34,537	)		75,582		190,992		(115,410	)
PIMCO VIT Real Return Portfolio, Advisor Class		13,727			19,444		(5,717	)		41,067		54,147		(13,080	)
PIMCO VIT Short-Term Portfolio, Advisor Class		115,797			230,990		(115,193	)		120,034		209,145		(89,111	)
PIMCO VIT Total Return Portfolio, Advisor Class		174,829			273,980		(99,151	)		509,833		219,968		289,865
Putnam VT Core Equity Fund, Class IB		1,052			7,359		(6,307	)		6,038		8,748		(2,710	)

110

	2025							2024
Subaccount	Units Issued		Units Redeemed		Net Increase (Decrease)			Units Issued			Units Redeemed		Net Increase (Decrease)
Putnam VT Emerging Markets Equity Fund, Class IB		-		-		-			-			-		-
Putnam VT Focused International Equity Fund, Class IB		45		9,370		(9,325	)		-			17,593		(17,593	)
Putnam VT Global Asset Allocation Fund, Class IB		-		7,192		(7,192	)		5,564			19,114		(13,550	)
Putnam VT Income Fund, Class IB		12,720		22,219		(9,499	)		28,166			113,760		(85,594	)
Putnam VT International Equity Fund, Class IB		16,035		9,889		6,146			1,317			4,798		(3,481	)
Putnam VT International Value Fund, Class IB		9,803		1,641		8,162			834			7,058		(6,224	)
Putnam VT Large Cap Growth Fund, Class IB		7,046		54,625		(47,579	)		8,753			38,193		(29,440	)
Putnam VT Large Cap Value Fund, Class IB		-		490		(490	)		0	*		5,761		(5,761	)
Putnam VT Mortgage Securities Fund, Class IB		2,263		489		1,774			164			346		(182	)
Putnam VT Research Fund, Class IB		1,552		14,711		(13,159	)		477			5,850		(5,373	)
Putnam VT Small Cap Growth Fund, Class IB		-		5,816		(5,816	)		-			4,780		(4,780	)
Putnam VT Small Cap Value Fund, Class IB		720		10,341		(9,621	)		5,444			12,695		(7,251	)
T. Rowe Price Blue Chip Growth Portfolio, Class II		13,562		188,871		(175,309	)		38,119			418,987		(380,868	)
T. Rowe Price Health Sciences Portfolio, Class II		5,553		90,673		(85,120	)		16,662			176,268		(159,606	)
VanEck VIP Emerging Markets Fund, Initial Class		786		48		738			316			1,429		(1,113	)
VanEck VIP Global Resources Fund, Class S		1,760		13,159		(11,399	)		2,437			65,323		(62,886	)
VanEck VIP Global Resources Fund, Initial Class		1,389		1,181		208			-			3,470		(3,470	)

* The Subaccount has units that round to less than one.

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

111

EXPENSES AND RELATED PARTY TRANSACTIONS

The fees and charges below are the current expenses deducted by the Subaccount from either the net unit value or from the Contract as a redemption of units. Fees and charges may vary based on factors such as the product purchased, optional benefits chosen, benefit base, asset base, net amount at risk, death benefit option elected, a Contract’s total asset value, age of Contract, surrender amount, if a surrender is requested during the period specified, Subaccounts selected, transaction amount, and/or transaction frequency. The fees and charges are recorded, as applicable, to the respective Subaccount in the Separate Account. Redemption of units deductions are made to the individual Contracts in accordance with the terms which govern each annuity, as set forth in the Contract.

The minimum and maximum Contract expenses offered by the Company may not directly equate to the minimum and maximum expense ratios by Subaccount in the Financial Highlights footnote as Contract owners across all products offered may not have invested in all available products during the current year.

		Expense Type			Range
		Contract Maintenance Charge
		This charge is assessed to reimburse the Company for expenses incurred in the administration of the Contract and the Separate Account. If applicable, the charge is deducted annually, assessed through a redemption of units, and recorded as Contract maintenance charges in the Statements of Changes in Net Assets.			$0 - $30 annually

		Fund Facilitation Fee
		The Company deducts a fund facilitation fee from certain Subaccount assets open in select products. The fee is deducted daily, assessed through a reduction of net unit values, and recorded as mortality and expense risk within the Statements of Operations.			0.35% of the average daily net assets of the Subaccounts

		Mortality and Expense Risk Fee
		This fee is assessed to reimburse the Company for assuming mortality and expense risks. The fee is deducted daily, assessed through a reduction of net unit values, and recorded as mortality and expense risk in the Statements of Operations.			a daily fee amounting to a per annum aggregate of 0.20% - 1.40% of the average daily net assets of the Subaccounts

		Deductions for Premium Taxes
		This deduction is to comply with any applicable state premium and/or retaliatory taxes. The mandated amount is deducted from the payment when it is received which in turn reduces Contract owners’ net payments on the Statements of Changes in Net Assets.			0.0% - 3.5% of each payment, if applicable

		Surrender Charge (Contingent Deferred Sales Charge)
		This charge is assessed to reimburse the Company for some of the costs of distributing the Policies. The charge is a percent of the amount withdrawn or surrendered based on the number of full years which have elapsed between the date the Contract was issued and the surrender date, assessed through a redemption of units, and recorded as Contract maintenance charges within the Statements of Changes in Net Assets.			0.0% - 6.0% of withdrawn or surrendered amount

112

		Expense Type			Range
		Transfer Charge
		This charge is assessed to reimburse the Company for costs incurred when transferring funds. The charge is deducted upon transfer, assessed through a redemption of units, and recorded as Contract owners’ benefits within the Statements of Changes in Net Assets.			$15 - $25 per transfer, after the first 12 transfers in any calendar year

		Charge for Optional Benefits (Guaranteed Lifetime Withdrawal Benefit)
		This charge, if applicable, is assessed to reimburse the Company for costs and risks stemming from optional benefits elected by the Contract owner. The charge is deducted quarterly, assessed through a redemption of units, and recorded as Contract maintenance charges within the Statements of Changes in Net Assets.			0.65% - 2.25% of net asset base

		Expenses of the Portfolio
		This fee, if applicable, is assessed to provide compensation for administrative services performed in connection with the subaccounts. Such compensation is assessed against the value of the assets invested in the relevant subaccounts and is recorded as Investment advisory expenses in the Statements of Operations.			0.00% - 0.35% annually

113

FINANCIAL HIGHLIGHTS

The Company sells a number of variable annuity products that are funded by the Separate Account. These products have unique combinations of features and expenses that are charged against the Contract owner’s account. Differences in the expense structures result in a variety of unit values, expense ratios and total returns. The following tables were developed by determining which products offered by the Company and funded by the Separate Account have the highest and lowest expense ratios. The summaries may not reflect or directly equate to the minimum and maximum Contract expenses offered by the Company, as Contract owners may not have selected all available and applicable Contract options for or during the periods presented.

A summary of the units outstanding, unit fair values, net assets for variable annuity Contracts, investment income ratios, the expense ratios, excluding expenses of the underlying Subaccounts, and total returns for each of the five years or periods ended December 31, 2025 is as follows:

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Alger Capital Appreciation Portfolio, Class I-2
2025		5	$	478.99	$	457.23	$	2,366		0.00	%		1.25	%		1.40	%		31.22	%		31.02	%
2024		6		365.03		348.96		2,042		0.00	%		1.25	%		1.40	%		46.29	%		46.06	%
2023		6		249.53		238.91		1,520		0.00	%		1.25	%		1.40	%		41.36	%		41.15	%
2022		7		176.52		169.26		1,157		0.00	%		1.25	%		1.40	%		(32.10	)%		(39.89	)%
2021		9		281.58		259.96		2,376		0.00	%		1.25	%		1.55	%		22.33	%		8.61	%
Alger Large Cap Growth Portfolio, Class I-2
2025		4		440.78		417.01		1,663		0.00	%		1.25	%		1.40	%		28.65	%		28.46	%
2024		4		342.61		324.62		1,430		0.00	%		1.25	%		1.40	%		41.10	%		40.89	%
2023		5		242.81		230.40		1,237		0.00	%		1.25	%		1.40	%		31.03	%		30.83	%
2022		7		185.31		167.49		1,154		0.00	%		1.25	%		1.55	%		(33.17	)%		(45.24	)%
2021		7		305.88		277.29		2,051		0.00	%		1.25	%		1.55	%		21.48	%		0.13	%
Alger Mid Cap Growth Portfolio, Class I-2
2025		9		194.30		184.95		1,728		0.00	%		1.25	%		1.40	%		15.32	%		15.14	%
2024		10		168.49		160.63		1,666		0.00	%		1.25	%		1.40	%		19.56	%		19.38	%
2023		11		140.93		134.56		1,467		0.00	%		1.25	%		1.40	%		21.65	%		21.47	%
2022		12		115.85		110.78		1,284		0.00	%		1.25	%		1.40	%		(31.21	)%		(39.64	)%
2021		12		183.51		168.41		2,194		0.00	%		1.25	%		1.55	%		7.30	%		(5.56	)%

114

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Alger Small Cap Growth Portfolio, Class I-2
2025		4	$	32.79	$	167.60	$	294		0.00	%		0.25	%		1.40	%		5.65	%		4.44	%
2024		4		31.03		160.47		294		0.42	%		0.25	%		1.40	%		7.86	%		6.62	%
2023		6		28.77		150.51		313		0.00	%		0.25	%		1.40	%		16.20	%		14.88	%
2022		7		24.76		131.02		306		0.00	%		0.25	%		1.40	%		7.98	%		(41.85	)%
2021		9		225.30		22.93		571		0.00	%		0.25	%		1.55	%		(2.64	)%		(46.35	)%
ALPS Alerian Energy Infrastructure Portfolio, Class III
2025		29		19.28		21.41		615		3.59	%		0.20	%		1.20	%		4.45	%		3.41	%
2024		47		18.46		20.70		961		3.68	%		0.20	%		1.20	%		40.32	%		38.91	%
2023		70		13.15		14.90		1,012		2.39	%		0.20	%		1.20	%		13.68	%		12.55	%
2022		120		11.57		13.24		1,536		4.65	%		0.20	%		1.20	%		18.32	%		9.79	%
2021		105		12.06		9.78		1,181		2.08	%		0.20	%		1.20	%		43.74	%		36.02	%
ALPS Global Opportunity Portfolio, Class III
2025		31		22.26		19.65		650		5.92	%		0.20	%		1.20	%		1.16	%		0.15	%
2024		38		22.01		19.62		774		7.49	%		0.20	%		1.20	%		17.77	%		16.59	%
2023		52		18.69		16.83		891		0.00	%		0.20	%		1.20	%		28.54	%		27.27	%
2022		104		14.54		13.22		1,392		10.13	%		0.20	%		1.20	%		(22.76	)%		(35.69	)%
2021		147		20.56		18.82		2,791		4.39	%		0.20	%		1.20	%		24.15	%		13.58	%
American Funds IS Capital World Growth and Income Fund, Class 4
2025		186		23.22		21.29		4,088		1.21	%		0.20	%		1.20	%		24.21	%		22.98	%
2024		217		18.69		17.31		3,840		1.25	%		0.20	%		1.20	%		13.47	%		12.33	%
2023		390		16.48		15.41		6,100		1.64	%		0.20	%		1.20	%		20.41	%		19.22	%
2022		497		13.68		12.93		6,474		2.13	%		0.20	%		1.20	%		(13.78	)%		(22.26	)%
2021		549		16.63		15.87		8,776		1.45	%		0.20	%		1.20	%		18.53	%		9.00	%
American Funds IS Growth Fund, Class 4
2025		373		34.21		31.69		12,473		0.12	%		0.20	%		1.20	%		19.69	%		18.50	%
2024		409		28.58		26.74		11,348		0.17	%		0.20	%		1.20	%		31.03	%		29.72	%
2023		501		21.81		20.61		10,455		0.17	%		0.20	%		1.20	%		37.86	%		36.50	%
2022		638		15.82		15.10		9,706		0.10	%		0.20	%		1.20	%		(27.65	)%		(33.44	)%
2021		698		22.69		21.87		15,365		0.06	%		0.20	%		1.20	%		24.74	%		17.08	%

115

	As of December 31									For the period ended December 31
Subaccount	Units (000’s)			Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
				Low		High							Low			High			Low			High
American Funds IS Growth-Income Fund, Class 4
2025		171		$	25.28	$	23.41	$	4,156		0.73	%		0.20	%		1.20	%		17.53	%		16.37	%
2024		188			21.51		20.12		3,902		0.80	%		0.20	%		1.20	%		23.67	%		22.43	%
2023		373			17.39		16.43		6,227		1.08	%		0.20	%		1.20	%		25.57	%		24.33	%
2022		523			13.85		13.22		6,975		1.05	%		0.20	%		1.20	%		(13.77	)%		(20.67	)%
2021		584			16.66		16.06		9,445		0.94	%		0.20	%		1.20	%		26.88	%		19.14	%
American Funds IS International Fund, Class 4
2025		185			18.25		15.05		2,919		1.10	%		0.20	%		1.20	%		26.15	%		24.90	%
2024		219			14.47		12.05		2,764		0.95	%		0.20	%		1.20	%		2.72	%		1.70	%
2023		273			14.09		11.85		3,366		1.00	%		0.20	%		1.20	%		15.33	%		14.18	%
2022		376			12.21		10.38		4,030		1.45	%		0.20	%		1.20	%		(6.34	)%		(33.04	)%
2021		440			15.50		13.04		6,005		2.26	%		0.20	%		1.20	%		13.14	%		(17.47	)%
American Funds IS New World Fund, Class 4
2025		143			22.09		20.60		3,074		0.88	%		0.20	%		1.20	%		27.67	%		26.40	%
2024		170			17.31		16.29		2,872		1.14	%		0.20	%		1.20	%		6.12	%		5.06	%
2023		199			16.31		15.51		3,173		1.08	%		0.20	%		1.20	%		15.44	%		14.29	%
2022		290			14.13		13.57		4,001		1.08	%		0.20	%		1.20	%		(20.00	)%		(27.24	)%
2021		317			18.65		17.66		5,676		0.64	%		0.20	%		1.20	%		9.13	%		1.26	%
American Funds IS Washington Mutual Investors Fund, Class 4
2025		183			22.98		21.29		4,036		1.21	%		0.20	%		1.20	%		16.66	%		15.50	%
2024		206			19.70		18.43		3,895		1.28	%		0.20	%		1.20	%		18.61	%		17.43	%
2023		319			16.61		15.69		5,101		1.34	%		0.20	%		1.20	%		16.74	%		15.58	%
2022		683			14.23		13.58		9,544		2.47	%		0.20	%		1.20	%		(5.47	)%		(13.02	)%
2021		318			15.61		15.05		4,843		1.26	%		0.20	%		1.20	%		30.74	%		22.66	%
BlackRock 60/40 Target Allocation ETF V.I. Fund, Class III
2025		4			17.19		17.13		71		2.32	%		0.20	%		0.25	%		14.69	%		15.08	%
2024		0	*		14.89		14.89		6		2.44	%		0.25	%		0.25	%		11.08	%		11.08	%
2023		1			13.40		13.40		10		2.47	%		0.25	%		0.25	%		0.43	%		0.43	%
2022		1			11.25		11.25		14		0.23	%		1.20	%		1.20	%		(16.02	)%		(18.28	)%
2021		2			13.77		13.40		30		0.79	%		0.20	%		1.20	%		13.33	%		8.59	%

116

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
BlackRock Global Allocation V.I. Fund, Class III
2025		180	$	19.19	$	17.64	$	3,181		3.87	%		0.20	%		1.20	%		19.27	%		18.09	%
2024		233		16.09		14.94		3,442		1.27	%		0.20	%		1.20	%		8.71	%		7.62	%
2023		327		14.80		13.88		4,494		1.90	%		0.20	%		1.20	%		12.27	%		11.15	%
2022		574		13.18		12.49		7,048		0.00	%		0.20	%		1.20	%		(9.40	)%		(22.86	)%
2021		783		16.19		14.55		11,558		0.82	%		0.20	%		1.20	%		13.06	%		(1.82	)%
BlackRock High Yield V.I. Fund, Class III
2025		317		15.70		14.90		4,913		6.50	%		0.20	%		1.20	%		8.86	%		7.78	%
2024		396		14.42		13.82		5,644		6.72	%		0.20	%		1.20	%		7.64	%		6.56	%
2023		441		13.40		12.97		5,809		6.28	%		0.20	%		1.20	%		12.70	%		11.58	%
2022		740		11.89		11.62		8,677		5.04	%		0.20	%		1.20	%		(9.60	)%		(17.80	)%
2021		897		14.14		13.15		11,875		4.27	%		0.20	%		1.20	%		11.69	%		3.71	%
BNY Mellon IP Technology Growth Portfolio, Service Shares
2025		6		78.28		50.47		487		0.00	%		0.25	%		1.00	%		27.55	%		26.60	%
2024		6		61.37		39.87		389		0.00	%		0.25	%		1.00	%		25.07	%		24.13	%
2023		11		49.07		32.12		519		0.00	%		0.25	%		1.00	%		58.61	%		57.43	%
2022		12		30.94		20.03		356		0.00	%		0.25	%		1.20	%		(4.42	)%		(65.46	)%
2021		16		57.99		32.37		863		0.00	%		0.25	%		1.20	%		70.31	%		(37.28	)%
BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares
2025		4		153.59		146.32		576		0.25	%		1.25	%		1.40	%		14.53	%		14.36	%
2024		4		134.11		127.94		520		0.53	%		1.25	%		1.40	%		23.33	%		23.14	%
2023		4		108.74		103.90		444		0.72	%		1.25	%		1.40	%		22.29	%		22.11	%
2022		4		88.92		85.09		374		0.52	%		1.25	%		1.40	%		(13.42	)%		(27.11	)%
2021		4		116.74		102.70		495		0.74	%		1.25	%		1.55	%		30.68	%		10.34	%
BNY Mellon VIF Appreciation Portfolio, Initial Shares
2025		1		183.18		173.80		196		0.36	%		1.25	%		1.40	%		8.71	%		8.54	%
2024		1		168.51		160.12		189		0.40	%		1.25	%		1.40	%		11.40	%		11.23	%
2023		2		151.27		143.95		290		0.72	%		1.25	%		1.40	%		19.47	%		19.29	%
2022		2		126.61		120.67		248		0.64	%		1.25	%		1.40	%		(11.44	)%		(22.88	)%
2021		3		156.47		142.97		381		0.44	%		1.25	%		1.55	%		31.34	%		14.72	%

117

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
BNY Mellon VIF Appreciation Portfolio, Service Shares
2025		17	$	43.96	$	32.15	$	588		0.18	%		0.25	%		1.00	%		9.51	%		8.69	%
2024		23		40.14		29.14		754		0.18	%		0.25	%		1.20	%		12.20	%		11.99	%
2023		24		35.78		26.02		718		0.48	%		0.25	%		1.20	%		20.37	%		19.23	%
2022		25		29.72		21.83		625		0.43	%		0.25	%		1.20	%		25.52	%		(40.12	)%
2021		26		36.45		23.68		792		0.20	%		0.25	%		1.20	%		68.98	%		(17.86	)%
BNY Mellon VIF Growth and Income Portfolio, Initial Shares
2025		3		169.31		169.31		449		0.45	%		1.40	%		1.40	%		15.21	%		15.21	%
2024		3		146.95		146.95		421		0.54	%		1.40	%		1.40	%		21.01	%		21.01	%
2023		3		121.44		121.44		406		0.66	%		1.40	%		1.40	%		24.93	%		24.93	%
2022		3		101.49		97.21		289		0.77	%		1.25	%		1.40	%		(4.00	)%		(19.43	)%
2021		4		120.64		105.72		412		0.47	%		1.25	%		1.55	%		29.15	%		8.72	%
ClearBridge Variable Large Cap Growth Portfolio, Class II
2025		120		31.56		28.93		3,561		0.00	%		0.20	%		1.20	%		8.14	%		7.06	%
2024		154		29.18		27.03		4,254		0.00	%		0.20	%		1.20	%		27.31	%		26.03	%
2023		278		22.92		21.44		6,076		0.00	%		0.20	%		1.20	%		43.38	%		41.96	%
2022		309		15.99		15.11		4,702		0.00	%		0.20	%		1.20	%		(29.32	)%		(36.26	)%
2021		363		23.70		22.62		8,280		0.00	%		0.20	%		1.20	%		25.93	%		15.82	%
ClearBridge Variable Mid Cap Portfolio, Class II
2025		38		17.06		15.91		638		0.01	%		0.40	%		1.20	%		3.66	%		2.84	%
2024		43		16.46		15.48		691		0.33	%		0.40	%		1.20	%		9.29	%		8.41	%
2023		66		15.06		14.27		969		0.02	%		0.40	%		1.20	%		12.17	%		11.28	%
2022		78		13.42		12.83		1,024		0.09	%		0.40	%		1.20	%		(22.99	)%		(29.75	)%
2021		83		18.26		17.43		1,473		0.03	%		0.20	%		1.20	%		32.90	%		23.18	%
ClearBridge Variable Small Cap Growth Portfolio, Class II
2025		109		22.24		19.74		2,236		0.00	%		0.20	%		1.20	%		8.75	%		7.67	%
2024		132		20.45		18.33		2,511		0.00	%		0.20	%		1.20	%		4.03	%		2.98	%
2023		235		19.66		17.80		4,302		0.00	%		0.20	%		1.20	%		7.91	%		6.84	%
2022		287		18.22		16.66		4,874		0.00	%		0.20	%		1.20	%		(23.28	)%		(35.69	)%
2021		342		25.91		23.75		8,273		0.00	%		0.20	%		1.20	%		18.20	%		3.49	%

118

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Columbia VP Select Small Cap Value Fund, Class 2
2025		10	$	27.97	$	27.36	$	286		0.00	%		1.25	%		1.40	%		4.98	%		4.82	%
2024		11		26.65		26.10		278		0.00	%		1.25	%		1.40	%		12.24	%		12.07	%
2023		15		23.74		23.29		348		0.00	%		1.25	%		1.40	%		11.45	%		11.28	%
2022		14		21.30		20.93		297		0.00	%		1.25	%		1.40	%		(13.23	)%		(17.44	)%
2021		15		25.35		24.55		381		0.00	%		1.25	%		1.55	%		30.87	%		24.87	%
Columbia VP Seligman Global Technology Fund, Class 1
2025		91		114.82		112.30		10,283		0.00	%		1.25	%		1.40	%		33.06	%		32.86	%
2024		104		86.30		84.53		8,797		0.00	%		1.25	%		1.40	%		25.33	%		25.14	%
2023		111		68.86		67.55		7,502		0.00	%		1.25	%		1.40	%		43.49	%		43.27	%
2022		121		47.99		47.15		5,713		0.00	%		1.25	%		1.40	%		(30.35	)%		(33.76	)%
2021		129		71.17		68.90		9,028		0.40	%		1.25	%		1.55	%		39.33	%		32.93	%
Columbia VP Seligman Global Technology Fund, Class 2
2025		2		248.62		239.22		398		0.00	%		1.25	%		1.40	%		32.70	%		32.50	%
2024		2		187.35		180.54		366		0.00	%		1.25	%		1.40	%		25.00	%		24.81	%
2023		2		149.88		144.65		283		0.00	%		1.25	%		1.40	%		43.08	%		42.86	%
2022		2		104.75		101.25		160		0.00	%		1.25	%		1.40	%		(28.14	)%		(34.96	)%
2021		2		155.66		145.77		248		0.29	%		1.25	%		1.55	%		41.28	%		28.26	%
Columbia VP Small Cap Value Fund, Class 2
2025		1		39.49		25.88		33		0.98	%		0.25	%		1.00	%		14.38	%		13.52	%
2024		1		34.53		22.80		29		0.55	%		0.25	%		1.00	%		8.40	%		7.59	%
2023		1		31.85		21.19		26		0.43	%		0.25	%		1.00	%		21.36	%		20.46	%
2022		1		26.24		17.59		22		0.49	%		0.25	%		1.00	%		36.61	%		(39.14	)%
2021		1		28.90		19.21		24		0.51	%		0.25	%		1.20	%		88.77	%		(14.58	)%
Columbia VP Strategic Income Fund, Class 2
2025		163		12.71		11.77		2,028		4.32	%		0.20	%		1.20	%		6.95	%		5.89	%
2024		171		11.88		11.11		1,997		4.23	%		0.20	%		1.20	%		4.30	%		3.25	%
2023		217		11.39		10.76		2,414		3.34	%		0.20	%		1.20	%		8.98	%		7.90	%
2022		278		10.45		9.98		2,845		2.77	%		0.20	%		1.20	%		(8.39	)%		(15.74	)%
2021		323		11.84		11.41		3,757		5.22	%		0.20	%		1.20	%		4.23	%		(2.23	)%

119

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Delaware VIP International Series, Service Class
2024		-	$	-	$	-	$	-		1.89	%		1.20	%		1.20	%		1.48	%		1.48	%
2023		21		9.76		9.76		206		1.24	%		1.20	%		1.20	%		11.93	%		11.93	%
2022		40		8.72		8.72		348		1.29	%		1.20	%		1.20	%		(18.55	)%		(19.38	)%
2021		44		10.82		10.71		476		0.95	%		0.20	%		1.20	%		6.39	%		5.31	%
Dimensional VA Equity Allocation Portfolio, Institutional
2025		44		24.15		23.81		1,067		2.11	%		0.55	%		0.75	%		19.29	%		19.05	%
2024		44		20.24		20.00		895		1.92	%		0.55	%		0.75	%		14.46	%		5.47	%
2023		44		17.69		17.69		781		2.22	%		0.55	%		0.55	%		19.49	%		19.49	%
2022		44		14.80		14.80		654		1.80	%		0.55	%		0.55	%		(13.65	)%		(14.15	)%
2021		44		17.24		17.14		762		2.16	%		0.55	%		0.75	%		23.67	%		22.96	%
Dimensional VA Global Bond Portfolio, Institutional
2025		3		10.88		10.88		32		4.21	%		0.55	%		0.55	%		3.78	%		3.78	%
2024		3		10.49		10.49		30		2.59	%		0.55	%		0.55	%		4.80	%		4.80	%
2023		7		10.00		10.00		70		3.98	%		0.55	%		0.55	%		4.48	%		4.48	%
2022		7		9.58		9.58		67		1.53	%		0.55	%		0.55	%		(6.30	)%		(6.85	)%
2021		8		10.28		10.22		77		0.75	%		0.55	%		0.75	%		(1.15	)%		(2.20	)%
Dimensional VA Global Moderate Allocation Portfolio, Institutional
2025		63		18.94		18.67		1,179		1.68	%		0.55	%		0.75	%		14.05	%		13.83	%
2024		120		16.60		16.41		1,972		4.16	%		0.55	%		0.75	%		11.37	%		5.70	%
2023		22		14.91		14.91		327		2.72	%		0.55	%		0.55	%		14.10	%		14.10	%
2022		22		13.07		13.07		286		1.47	%		0.55	%		0.55	%		(10.93	)%		(11.47	)%
2021		22		14.76		14.67		323		1.48	%		0.55	%		0.75	%		13.63	%		12.93	%
Dimensional VA International Small Portfolio, Institutional
2025		23		16.66		14.71		353		3.32	%		0.55	%		1.55	%		36.24	%		34.88	%
2024		43		12.23		10.91		495		2.79	%		0.55	%		1.55	%		3.24	%		2.21	%
2023		67		11.84		10.67		754		2.88	%		0.55	%		1.55	%		13.49	%		12.36	%
2022		87		10.44		9.50		871		2.53	%		0.55	%		1.55	%		(10.88	)%		(25.47	)%
2021		94		12.74		11.71		1,156		2.59	%		0.55	%		1.55	%		22.74	%		4.74	%

120

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Dimensional VA International Value Portfolio, Institutional
2025		48	$	19.82	$	17.40	$	879		4.16	%		0.55	%		1.55	%		44.84	%		43.40	%
2024		76		13.69		12.13		989		3.55	%		0.55	%		1.55	%		6.03	%		4.97	%
2023		99		12.91		11.56		1,226		4.55	%		0.55	%		1.55	%		17.21	%		16.05	%
2022		118		11.01		9.96		1,236		3.85	%		0.55	%		1.55	%		5.07	%		(13.18	)%
2021		125		11.47		10.48		1,365		3.96	%		0.55	%		1.55	%		27.30	%		7.38	%
Dimensional VA Short-Term Fixed Portfolio, Institutional
2025		58		11.31		11.31		659		4.37	%		0.55	%		0.55	%		3.76	%		3.76	%
2024		48		10.90		10.90		527		6.77	%		0.55	%		0.55	%		4.90	%		4.90	%
2023		3		10.39		10.39		34		3.86	%		0.55	%		0.55	%		4.41	%		4.41	%
2022		3		9.95		9.95		33		0.53	%		0.55	%		0.55	%		(1.06	)%		(1.74	)%
2021		9		10.13		10.06		94		0.01	%		0.55	%		0.75	%		(0.30	)%		(1.37	)%
Dimensional VA US Large Value Portfolio, Institutional
2025		142		19.76		16.95		2,632		1.84	%		0.55	%		1.55	%		15.19	%		14.05	%
2024		183		17.15		14.86		2,968		1.87	%		0.55	%		1.55	%		12.76	%		11.63	%
2023		225		15.21		13.32		3,255		2.02	%		0.55	%		1.55	%		10.32	%		9.22	%
2022		272		13.79		12.19		3,563		2.18	%		0.55	%		1.55	%		5.92	%		(16.38	)%
2021		298		14.58		13.02		4,155		1.75	%		0.55	%		1.55	%		40.06	%		12.82	%
Dimensional VA US Targeted Value Portfolio, Institutional
2025		45		20.24		17.92		835		1.72	%		0.55	%		1.55	%		8.35	%		7.27	%
2024		63		18.68		16.70		1,105		1.01	%		0.55	%		1.55	%		7.54	%		6.47	%
2023		142		17.37		15.69		2,281		1.42	%		0.55	%		1.55	%		19.38	%		18.19	%
2022		171		14.55		13.27		2,327		1.29	%		0.55	%		1.55	%		3.41	%		(13.07	)%
2021		175		15.27		14.07		2,521		1.43	%		0.55	%		1.55	%		49.27	%		28.03	%
DWS Capital Growth VIP, Class B
2024		-		-		-		-		0.00	%		0.20	%		1.20	%		17.41	%		16.86	%
2023		34		27.04		25.27		1,435		0.00	%		0.20	%		1.20	%		37.90	%		36.53	%
2022		62		19.61		24.24		1,924		0.00	%		0.20	%		1.20	%		(27.68	)%		(55.14	)%
2021		65		54.02		27.11		2,888		0.00	%		0.20	%		1.20	%		84.12	%		16.50	%

121

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
DWS CROCI U.S. VIP, Class B
2024		-	$	-	$	-	$	-		1.22	%		0.25	%		1.00	%		9.81	%		9.43	%
2023		3		21.75		15.18		49		1.39	%		0.25	%		1.00	%		20.07	%		19.18	%
2022		3		18.11		12.74		43		1.59	%		0.25	%		1.00	%		20.68	%		(40.85	)%
2021		3		21.53		15.01		60		1.64	%		0.25	%		1.20	%		78.97	%		(12.22	)%
DWS Global Small Cap VIP, Class B
2024		-		-		-		-		1.16	%		0.25	%		1.20	%		(0.40	)%		(0.84	)%
2023		2		20.99		12.33		30		0.60	%		0.25	%		1.20	%		23.89	%		22.72	%
2022		2		16.94		10.05		24		0.25	%		0.25	%		1.20	%		26.25	%		(55.17	)%
2021		2		22.41		13.42		34		0.07	%		0.20	%		1.20	%		89.27	%		(31.53	)%
DWS Small Mid Cap Value VIP, Class B
2025		12		29.52		19.59		356		0.56	%		0.25	%		1.00	%		17.55	%		16.67	%
2024		12		25.11		16.79		303		0.81	%		0.25	%		1.00	%		5.53	%		4.73	%
2023		12		23.79		16.03		289		0.80	%		0.25	%		1.00	%		14.30	%		13.45	%
2022		12		20.82		14.13		257		0.46	%		0.25	%		1.00	%		24.36	%		(43.23	)%
2021		12		24.89		16.74		307		0.86	%		0.25	%		1.20	%		88.28	%		(12.72	)%
Eaton Vance VT Floating-Rate Income Fund, Initial Class
2025		234		13.91		13.26		3,215		6.74	%		0.20	%		1.20	%		3.75	%		2.71	%
2024		305		13.41		12.91		4,040		7.91	%		0.20	%		1.20	%		7.46	%		6.39	%
2023		422		12.48		12.14		5,185		8.18	%		0.20	%		1.20	%		10.99	%		9.89	%
2022		802		11.24		11.05		8,946		4.63	%		0.20	%		1.20	%		(2.00	)%		(8.94	)%
2021		786		12.13		11.47		9,089		2.87	%		0.20	%		1.20	%		8.01	%		2.41	%
Empower Aggressive Profile Fund, Investor Class
2025		213		21.86		20.04		4,446		1.82	%		0.20	%		1.20	%		17.19	%		16.02	%
2024		259		18.65		17.27		4,635		2.90	%		0.20	%		1.20	%		11.72	%		10.60	%
2023		346		16.69		15.62		5,530		2.83	%		0.20	%		1.20	%		16.71	%		15.55	%
2022		489		14.30		13.52		6,718		1.53	%		0.20	%		1.20	%		(11.26	)%		(20.03	)%
2021		538		16.90		16.12		8,772		5.36	%		0.20	%		1.20	%		23.72	%		13.76	%

122

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower Ariel Mid Cap Value Fund, Investor Class
2024		-	$	-	$	-	$	-		6.05	%		0.20	%		1.20	%		6.13	%		5.26	%
2023		69		15.97		14.90		1,176		2.39	%		0.20	%		1.20	%		10.23	%		9.13	%
2022		85		14.49		13.65		1,302		4.88	%		0.20	%		1.20	%		(8.72	)%		(57.62	)%
2021		110		32.21		15.87		1,910		2.26	%		0.20	%		1.20	%		153.02	%		19.86	%
Empower Bond Index Fund, Investor Class
2025		1,084		11.11		10.22		11,998		2.44	%		0.20	%		1.20	%		6.40	%		5.35	%
2024		1,371		10.44		9.70		14,261		2.25	%		0.20	%		1.20	%		0.62	%		(0.39	)%
2023		1,541		10.37		9.74		15,841		2.05	%		0.20	%		1.20	%		4.81	%		3.77	%
2022		1,516		9.90		9.38		14,866		1.15	%		0.20	%		1.20	%		(10.01	)%		(24.40	)%
2021		1,771		12.41		11.00		20,202		0.80	%		0.20	%		1.20	%		6.07	%		(6.78	)%
Empower Conservative Profile Fund, Class L
2025		295		13.83		12.68		3,795		1.96	%		0.20	%		1.20	%		7.77	%		6.70	%
2024		305		12.44		11.89		3,665		1.64	%		0.20	%		1.20	%		1.39	%		3.54	%
2023		537		12.27		11.48		6,251		1.99	%		0.20	%		1.20	%		7.82	%		6.75	%
2022		630		11.38		10.76		6,853		1.08	%		0.20	%		1.20	%		(6.08	)%		(15.31	)%
2021		718		12.70		12.12		8,766		1.52	%		0.20	%		1.20	%		9.86	%		1.08	%
Empower Conservative Profile Fund, Investor Class
2025		603		14.12		12.94		8,182		2.56	%		0.20	%		1.20	%		7.97	%		6.90	%
2024		657		13.08		12.11		8,270		2.98	%		0.20	%		1.20	%		4.88	%		3.83	%
2023		676		12.47		11.66		8,089		2.88	%		0.20	%		1.20	%		8.03	%		6.96	%
2022		763		11.54		10.90		8,495		1.59	%		0.20	%		1.20	%		(5.79	)%		(15.08	)%
2021		1,193		12.84		12.25		14,827		2.39	%		0.20	%		1.20	%		10.12	%		1.24	%
Empower Core Bond Fund, Investor Class
2025		806		11.49		10.69		9,383		3.54	%		0.20	%		1.20	%		6.54	%		5.48	%
2024		561		10.79		10.14		6,181		2.89	%		0.20	%		1.20	%		1.32	%		0.31	%
2023		617		10.65		10.11		6,704		2.24	%		0.20	%		1.20	%		5.99	%		4.94	%
2022		684		10.05		9.63		6,984		1.12	%		0.20	%		1.20	%		(12.04	)%		(26.55	)%
2021		806		13.11		11.42		9,636		0.79	%		0.20	%		1.20	%		11.57	%		(4.91	)%

123

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower Emerging Markets Equity Fund, Investor Class
2025		27	$	14.02	$	12.99	$	366		1.07	%		0.20	%		1.20	%		32.52	%		31.20	%
2024		48		10.58		9.90		502		1.18	%		0.20	%		1.20	%		9.63	%		8.53	%
2023		70		9.65		9.12		669		1.92	%		0.20	%		1.20	%		9.45	%		8.37	%
2022		91		8.82		8.42		789		1.20	%		0.20	%		1.20	%		(19.60	)%		(26.03	)%
2021		86		11.38		10.97		962		1.34	%		0.20	%		1.20	%		(2.07	)%		(8.05	)%
Empower Global Bond Fund, Investor Class
2025		147		9.79		8.61		1,412		2.92	%		0.20	%		1.20	%		7.32	%		6.25	%
2024		193		9.13		8.10		1,724		2.12	%		0.20	%		1.20	%		(1.07	)%		(2.06	)%
2023		302		9.23		8.27		2,631		0.87	%		0.20	%		1.20	%		4.92	%		3.88	%
2022		388		8.79		7.96		3,232		0.76	%		0.20	%		1.20	%		(5.97	)%		(31.01	)%
2021		440		11.54		9.35		4,333		0.07	%		0.20	%		1.20	%		13.03	%		(15.46	)%
Empower Government Money Market Fund, Investor Class
2024		-		-		-		-		2.26	%		0.20	%		1.20	%		2.18	%		1.72	%
2023		4,395		10.84		9.93		45,713		4.44	%		0.20	%		1.20	%		4.33	%		3.30	%
2022		5,312		10.39		9.62		53,115		1.28	%		0.20	%		1.20	%		10.30	%		(6.55	)%
2021		4,098		10.29		9.42		40,446		0.01	%		0.20	%		1.20	%		5.76	%		(8.63	)%
Empower High Yield Bond Fund, Investor Class
2025		36		15.20		14.65		562		3.42	%		0.20	%		1.20	%		8.74	%		7.66	%
2024		61		13.97		13.61		872		3.83	%		0.20	%		1.20	%		7.42	%		6.35	%
2023		77		13.01		12.79		1,004		5.16	%		0.20	%		1.20	%		10.91	%		9.81	%
2022		117		11.73		11.65		1,385		3.09	%		0.20	%		1.20	%		(11.08	)%		(35.63	)%
2021		139		18.10		13.19		1,873		3.04	%		0.20	%		1.20	%		38.70	%		2.41	%
Empower Inflation-Protected Securities Fund, Investor Class
2025		21		12.30		11.40		255		3.23	%		0.20	%		1.20	%		6.53	%		5.47	%
2024		30		11.55		10.80		336		3.24	%		0.20	%		1.20	%		2.59	%		1.57	%
2023		45		11.26		10.64		485		3.98	%		0.20	%		1.20	%		4.55	%		3.51	%
2022		59		10.77		10.28		621		4.97	%		0.20	%		1.20	%		(5.71	)%		(13.27	)%
2021		62		11.85		11.42		713		2.33	%		0.20	%		1.20	%		7.43	%		0.79	%

124

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower International Growth Fund, Investor Class
2025		46	$	17.77	$	14.42	$	705		0.00	%		0.20	%		1.20	%		11.33	%		10.22	%
2024		56		15.97		14.62		768		0.97	%		0.20	%		1.20	%		3.85	%		9.25	%
2023		91		15.37		13.38		1,230		0.00	%		0.20	%		1.20	%		16.31	%		15.16	%
2022		149		13.22		11.62		1,707		0.00	%		0.20	%		1.20	%		(17.70	)%		(54.43	)%
2021		185		25.50		16.06		3,059		0.13	%		0.20	%		1.20	%		58.19	%		(10.63	)%
Empower International Index Fund, Investor Class
2025		474		20.55		16.85		9,805		2.26	%		0.20	%		1.20	%		30.66	%		29.36	%
2024		666		15.73		13.03		10,464		1.92	%		0.20	%		1.20	%		2.71	%		1.69	%
2023		752		15.32		12.81		11,317		2.13	%		0.20	%		1.20	%		17.28	%		16.12	%
2022		949		13.06		11.03		11,992		1.56	%		0.20	%		1.20	%		(0.31	)%		(45.25	)%
2021		1,129		20.15		13.10		16,726		2.16	%		0.20	%		1.20	%		64.89	%		(5.69	)%
Empower International Value Fund, Investor Class
2025		163		22.86		20.72		4,054		1.55	%		0.20	%		1.20	%		38.82	%		37.45	%
2024		185		16.47		17.82		3,300		1.54	%		0.20	%		1.20	%		5.25	%		10.53	%
2023		227		15.65		16.12		3,808		1.35	%		0.20	%		1.20	%		17.79	%		16.62	%
2022		281		13.28		13.83		3,924		1.11	%		0.20	%		1.20	%		(10.25	)%		(40.46	)%
2021		320		23.22		14.80		5,242		1.58	%		0.20	%		1.20	%		54.18	%		4.30	%
Empower Large Cap Growth Fund, Investor Class
2025		161		43.67		41.00		6,955		0.00	%		0.20	%		1.20	%		13.75	%		12.62	%
2024		176		38.39		36.41		6,653		0.00	%		0.20	%		1.20	%		25.19	%		23.94	%
2023		208		30.67		29.38		6,270		0.10	%		0.20	%		1.20	%		33.31	%		31.99	%
2022		248		23.00		22.26		5,618		0.36	%		0.20	%		1.20	%		(21.52	)%		(28.07	)%
2021		266		30.94		29.31		7,874		0.86	%		0.20	%		1.20	%		26.03	%		17.85	%
Empower Large Cap Value Fund, Investor Class
2025		169		20.14		18.93		3,293		0.14	%		0.20	%		1.20	%		16.69	%		15.53	%
2024		210		17.26		16.39		3,519		0.07	%		0.20	%		1.20	%		15.15	%		13.99	%
2023		245		14.99		14.38		3,563		0.03	%		0.20	%		1.20	%		12.05	%		10.94	%
2022		448		13.38		12.96		5,871		0.05	%		0.20	%		1.20	%		(1.64	)%		(6.77	)%
2021		442		13.90		13.60		6,042		0.37	%		0.20	%		1.20	%		27.29	%		23.08	%

125

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower Lifetime 2015 Fund, Investor Class
2025		55	$	16.99	$	16.12	$	917		2.58	%		0.25	%		0.40	%		9.87	%		9.71	%
2024		58		14.53		14.39		874		2.45	%		0.20	%		1.20	%		3.36	%		6.26	%
2023		67		14.06		13.54		948		2.80	%		0.20	%		1.20	%		10.11	%		9.02	%
2022		81		12.77		12.42		1,047		1.85	%		0.20	%		1.20	%		(10.89	)%		(17.85	)%
2021		112		15.12		14.33		1,645		2.13	%		0.20	%		1.20	%		13.09	%		6.38	%
Empower Lifetime 2020 Fund, Investor Class
2025		24		16.98		16.14		403		2.73	%		0.20	%		1.20	%		10.47	%		9.37	%
2024		25		15.37		14.76		379		1.42	%		0.20	%		1.20	%		6.73	%		5.67	%
2023		85		14.40		13.97		1,213		2.22	%		0.20	%		1.20	%		10.75	%		9.65	%
2022		191		13.01		12.74		2,446		1.86	%		0.20	%		1.20	%		(12.18	)%		(18.50	)%
2021		263		15.63		14.81		3,900		2.28	%		0.20	%		1.20	%		13.84	%		7.79	%
Empower Lifetime 2025 Fund, Investor Class
2025		76		17.83		16.95		1,339		2.38	%		0.20	%		1.20	%		11.48	%		10.37	%
2024		78		15.99		15.36		1,244		1.36	%		0.20	%		1.20	%		7.11	%		6.04	%
2023		202		14.93		14.48		3,011		2.08	%		0.20	%		1.20	%		11.69	%		10.58	%
2022		334		13.37		13.10		4,456		1.62	%		0.20	%		1.20	%		(13.09	)%		(19.35	)%
2021		378		16.24		15.38		5,890		2.11	%		0.20	%		1.20	%		14.93	%		8.77	%
Empower Lifetime 2030 Fund, Investor Class
2025		104		18.91		18.20		1,919		2.41	%		0.20	%		1.20	%		12.75	%		11.62	%
2024		114		16.78		16.30		1,867		2.72	%		0.20	%		1.20	%		7.85	%		6.77	%
2023		126		15.56		15.27		1,939		2.35	%		0.20	%		1.20	%		12.84	%		11.72	%
2022		164		13.79		13.67		2,249		1.79	%		0.20	%		1.20	%		(13.95	)%		(20.04	)%
2021		183		17.09		16.02		2,970		2.48	%		0.20	%		1.20	%		16.34	%		10.25	%
Empower Lifetime 2035 Fund, Investor Class
2025		28		20.27		19.45		574		2.03	%		0.20	%		1.20	%		14.12	%		12.99	%
2024		28		17.77		17.21		511		0.96	%		0.20	%		1.20	%		8.98	%		7.88	%
2023		115		16.30		15.95		1,949		1.99	%		0.20	%		1.20	%		14.17	%		13.04	%
2022		122		14.28		14.11		1,811		1.39	%		0.20	%		1.20	%		(14.95	)%		(21.03	)%
2021		141		17.87		16.79		2,470		2.17	%		0.20	%		1.20	%		18.34	%		12.16	%

126

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower Lifetime 2040 Fund, Investor Class
2025		21	$	21.41	$	20.79	$	448		2.29	%		0.20	%		1.20	%		15.45	%		14.30	%
2024		22		18.55		18.19		392		2.51	%		0.20	%		1.20	%		9.96	%		8.86	%
2023		10		16.87		16.71		175		1.86	%		0.20	%		1.20	%		15.50	%		14.35	%
2022		16		14.60		14.61		237		1.62	%		0.20	%		1.20	%		(15.63	)%		(21.62	)%
2021		17		18.64		17.31		307		3.17	%		0.20	%		1.20	%		20.03	%		13.73	%
Empower Lifetime 2045 Fund, Investor Class
2025		6		23.38		18.55		139		1.72	%		0.25	%		1.20	%		16.42	%		0.29	%
2024		7		20.09		18.50		130		1.22	%		0.25	%		1.20	%		10.54	%		9.49	%
2023		20		18.17		16.89		344		0.92	%		0.25	%		1.20	%		16.44	%		15.34	%
2022		72		14.77		14.65		1,067		1.36	%		0.20	%		1.20	%		(16.14	)%		(22.14	)%
2021		71		18.81		17.61		1,264		2.22	%		0.20	%		1.20	%		21.04	%		14.65	%
Empower Lifetime 2050 Fund, Investor Class
2025		30		22.43		21.79		663		2.05	%		0.20	%		1.20	%		17.02	%		15.86	%
2024		31		19.16		18.80		594		2.39	%		0.20	%		1.20	%		10.92	%		9.81	%
2023		32		17.28		17.12		550		2.19	%		0.20	%		1.20	%		16.82	%		15.66	%
2022		34		14.79		14.81		506		1.51	%		0.20	%		1.20	%		(16.30	)%		(22.24	)%
2021		41		19.04		17.67		732		3.17	%		0.20	%		1.20	%		21.12	%		14.81	%
Empower Lifetime 2055 Fund, Investor Class
2025		11		22.01		21.55		229		1.01	%		0.40	%		1.20	%		17.24	%		16.30	%
2024		12		18.77		18.53		217		0.79	%		0.40	%		1.20	%		10.65	%		9.76	%
2023		26		16.97		16.88		439		1.15	%		0.40	%		1.20	%		16.59	%		15.66	%
2022		53		14.55		14.59		767		0.96	%		0.40	%		1.20	%		(17.46	)%		(22.42	)%
2021		59		18.81		17.63		1,056		1.12	%		0.20	%		1.20	%		21.04	%		14.70	%
Empower Mid Cap Value Fund, Investor Class
2025		106		20.05		20.42		2,189		4.34	%		0.20	%		1.20	%		8.11	%		7.03	%
2024		115		18.55		19.08		2,199		10.02	%		0.20	%		1.20	%		15.45	%		14.29	%
2023		91		16.07		16.69		1,518		0.40	%		0.20	%		1.20	%		14.92	%		13.78	%
2022		151		13.98		14.67		2,213		0.61	%		0.20	%		1.20	%		(11.06	)%		(17.63	)%
2021		172		17.81		15.72		2,885		16.08	%		0.20	%		1.20	%		34.62	%		28.64	%

127

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower Moderate Profile Fund, Class L
2025		4,650	$	16.95	$	15.54	$	72,867		0.84	%		0.20	%		1.20	%		11.48	%		10.37	%
2024		6,034		15.20		14.08		85,494		1.02	%		0.20	%		1.20	%		7.40	%		6.33	%
2023		8,677		14.16		13.24		115,392		1.83	%		0.20	%		1.20	%		11.42	%		10.31	%
2022		10,996		12.71		12.00		132,411		1.77	%		0.20	%		1.20	%		(8.13	)%		(17.15	)%
2021		11,895		14.49		13.83		164,924		1.92	%		0.20	%		1.20	%		15.46	%		6.22	%
Empower Moderate Profile Fund, Investor Class
2025		2,574		17.32		15.88		41,494		2.18	%		0.20	%		1.20	%		11.74	%		10.63	%
2024		3,063		15.50		14.36		44,525		2.76	%		0.20	%		1.20	%		7.73	%		6.65	%
2023		3,976		14.39		13.46		54,069		3.26	%		0.20	%		1.20	%		11.71	%		10.60	%
2022		5,289		12.88		12.17		64,814		2.18	%		0.20	%		1.20	%		(7.98	)%		(17.03	)%
2021		6,344		14.67		14.00		89,306		3.33	%		0.20	%		1.20	%		15.97	%		6.63	%
Empower Moderately Aggressive Profile Fund, Investor Class
2025		585		18.76		17.20		10,597		1.97	%		0.20	%		1.20	%		13.57	%		12.44	%
2024		679		16.52		15.30		10,822		2.84	%		0.20	%		1.20	%		9.12	%		8.03	%
2023		896		15.14		14.16		13,020		2.15	%		0.20	%		1.20	%		13.38	%		12.25	%
2022		1,067		13.35		12.62		13,736		1.49	%		0.20	%		1.20	%		(9.10	)%		(18.07	)%
2021		1,251		15.40		14.69		18,673		4.39	%		0.20	%		1.20	%		18.28	%		8.81	%
Empower Moderately Conservative Profile Fund, Class L
2025		728		15.26		13.99		10,282		1.74	%		0.20	%		1.20	%		9.52	%		8.43	%
2024		937		13.94		12.91		12,223		1.71	%		0.20	%		1.20	%		6.06	%		5.00	%
2023		1,348		13.14		12.29		16,723		2.21	%		0.20	%		1.20	%		9.40	%		8.31	%
2022		1,642		12.01		11.35		18,775		1.17	%		0.20	%		1.20	%		(6.97	)%		(16.07	)%
2021		1,754		13.52		12.91		22,777		2.28	%		0.20	%		1.20	%		12.67	%		3.69	%
Empower Moderately Conservative Profile Fund, Investor Class
2025		966		15.60		14.30		14,193		2.13	%		0.20	%		1.20	%		9.81	%		8.72	%
2024		1,186		14.21		13.16		16,025		2.66	%		0.20	%		1.20	%		6.23	%		5.17	%
2023		1,370		13.37		12.51		17,469		2.96	%		0.20	%		1.20	%		9.68	%		8.59	%
2022		1,712		12.19		11.52		19,991		1.68	%		0.20	%		1.20	%		(6.71	)%		(15.91	)%
2021		1,942		13.70		13.07		25,655		3.02	%		0.20	%		1.20	%		13.04	%		3.90	%

128

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower Multi-Sector Bond Fund, Investor Class
2025		298	$	13.50	$	12.83	$	4,364		3.45	%		0.20	%		1.20	%		7.77	%		6.70	%
2024		296		12.52		12.02		3,914		3.24	%		0.20	%		1.20	%		4.93	%		3.88	%
2023		388		11.93		11.57		4,827		2.95	%		0.20	%		1.20	%		7.67	%		6.60	%
2022		539		11.08		10.86		6,207		2.20	%		0.20	%		1.20	%		(10.61	)%		(34.21	)%
2021		653		16.50		12.40		8,480		2.34	%		0.20	%		1.20	%		32.64	%		(0.40	)%
Empower Real Estate Index Fund, Investor Class
2025		172		13.92		16.54		2,535		1.57	%		0.20	%		1.20	%		2.95	%		1.93	%
2024		189		13.52		16.23		2,680		2.43	%		0.20	%		1.20	%		7.33	%		6.25	%
2023		244		12.60		15.28		3,220		1.65	%		0.20	%		1.20	%		13.08	%		11.96	%
2022		380		11.14		13.64		4,469		1.60	%		0.20	%		1.20	%		(25.79	)%		(28.60	)%
2021		496		19.11		15.01		7,932		0.62	%		0.20	%		1.20	%		45.21	%		42.55	%
Empower S&P 500 Index Fund, Investor Class
2025		2,420		33.36		39.51		89,197		0.29	%		0.20	%		1.20	%		17.07	%		15.90	%
2024		2,763		28.50		34.09		86,771		0.53	%		0.20	%		1.20	%		24.08	%		22.84	%
2023		3,333		22.97		27.75		84,332		0.44	%		0.20	%		1.20	%		25.36	%		24.12	%
2022		4,244		18.32		22.36		85,278		0.36	%		0.20	%		1.20	%		(17.88	)%		(46.66	)%
2021		5,130		41.92		22.31		126,282		0.37	%		0.20	%		1.20	%		91.07	%		26.62	%
Empower S&P Mid Cap 400 Index Fund, Investor Class
2025		522		21.43		25.02		12,473		1.44	%		0.20	%		1.20	%		6.72	%		5.66	%
2024		573		20.08		23.68		12,830		0.98	%		0.20	%		1.20	%		13.04	%		11.91	%
2023		839		17.76		21.16		16,307		0.44	%		0.20	%		1.20	%		15.53	%		14.38	%
2022		1,204		15.38		18.50		20,215		0.42	%		0.20	%		1.20	%		(12.84	)%		(45.78	)%
2021		1,467		34.12		17.64		28,567		1.39	%		0.20	%		1.20	%		92.99	%		22.50	%
Empower S&P Small Cap 600 Index Fund, Investor Class
2025		555		18.91		19.81		12,127		2.20	%		0.20	%		1.20	%		5.34	%		4.30	%
2024		651		17.95		18.99		13,499		0.72	%		0.20	%		1.20	%		7.72	%		6.65	%
2023		891		16.66		17.81		16,979		0.53	%		0.20	%		1.20	%		15.24	%		14.09	%
2022		1,275		14.46		15.61		21,322		0.46	%		0.20	%		1.20	%		(15.82	)%		(55.81	)%
2021		1,626		35.32		17.18		32,282		2.04	%		0.20	%		1.20	%		103.46	%		24.40	%

129

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower SecureFoundation Balanced Fund, Class L
2025		9,206	$	18.06	$	17.67	$	160,536		2.92	%		0.20	%		1.20	%		12.44	%		11.32	%
2024		11,590		16.06		16.94		181,299		2.20	%		0.20	%		1.20	%		7.67	%		8.62	%
2023		15,247		14.92		15.60		223,429		2.19	%		0.20	%		1.20	%		12.67	%		11.55	%
2022		18,857		13.24		13.98		247,533		1.59	%		0.20	%		1.20	%		(12.73	)%		(37.30	)%
2021		21,444		22.30		15.17		333,517		2.00	%		0.20	%		1.20	%		47.00	%		7.74	%
Empower Short Duration Bond Fund, Investor Class
2025		315		12.34		11.24		3,862		2.23	%		0.20	%		1.20	%		5.08	%		4.04	%
2024		519		11.74		10.81		6,058		3.87	%		0.20	%		1.20	%		4.03	%		2.99	%
2023		752		11.29		10.49		8,380		2.31	%		0.20	%		1.20	%		5.46	%		4.41	%
2022		631		10.70		10.05		6,643		1.48	%		0.20	%		1.20	%		0.88	%		(16.86	)%
2021		672		12.09		10.61		7,412		1.00	%		0.20	%		1.20	%		12.47	%		(5.52	)%
Empower Small Cap Growth Fund, Investor Class
2025		25		23.62		23.81		610		0.37	%		0.20	%		1.20	%		7.60	%		6.53	%
2024		32		21.95		22.36		734		0.26	%		0.20	%		1.20	%		10.27	%		9.17	%
2023		152		19.91		20.48		3,054		0.00	%		0.20	%		1.20	%		15.53	%		14.38	%
2022		61		17.23		17.90		1,093		0.52	%		0.20	%		1.20	%		(24.76	)%		(30.12	)%
2021		75		25.62		22.90		1,831		6.09	%		0.20	%		1.20	%		18.61	%		12.42	%
Empower Small Cap Value Fund, Investor Class
2025		139		18.13		18.92		2,704		0.00	%		0.20	%		1.20	%		3.87	%		2.84	%
2024		161		17.45		20.32		2,952		0.00	%		0.20	%		1.20	%		7.99	%		6.91	%
2023		170		16.16		19.29		2,974		0.05	%		0.20	%		1.20	%		17.58	%		16.41	%
2022		220		13.74		16.57		3,287		0.05	%		0.20	%		1.20	%		(9.28	)%		(43.88	)%
2021		262		29.53		15.15		4,327		3.59	%		0.20	%		1.20	%		104.50	%		29.05	%
Empower T. Rowe Price Mid Cap Growth Fund, Investor Class
2025		285		23.22		21.48		6,685		0.00	%		0.20	%		1.20	%		2.78	%		1.76	%
2024		364		22.59		26.68		8,395		0.00	%		0.20	%		1.20	%		8.83	%		7.74	%
2023		508		20.76		24.94		10,678		0.00	%		0.20	%		1.20	%		19.68	%		18.49	%
2022		708		17.35		21.05		12,610		0.02	%		0.20	%		1.20	%		(19.99	)%		(51.08	)%
2021		867		43.03		21.68		20,156		0.18	%		0.20	%		1.20	%		76.93	%		10.39	%

130

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Empower U.S. Government Securities Fund, Investor Class
2025		135	$	10.94	$	10.00	$	1,471		3.19	%		0.20	%		1.20	%		6.39	%		5.33	%
2024		119		10.28		9.50		1,212		2.29	%		0.20	%		1.20	%		0.55	%		(0.45	)%
2023		179		10.22		9.54		1,796		2.40	%		0.20	%		1.20	%		4.24	%		3.20	%
2022		258		9.81		9.24		2,467		1.37	%		0.20	%		1.20	%		(7.83	)%		(22.85	)%
2021		269		11.98		10.64		2,949		0.62	%		0.20	%		1.20	%		8.91	%		(7.07	)%
Federated Hermes High Income Bond Fund II, Service Shares
2025		18		13.93		12.77		246		6.26	%		0.20	%		1.20	%		7.97	%		6.89	%
2024		23		12.90		11.94		284		6.20	%		0.20	%		1.20	%		5.64	%		4.58	%
2023		57		12.21		11.42		671		5.30	%		0.20	%		1.20	%		12.25	%		11.13	%
2022		66		10.88		10.28		698		5.59	%		0.20	%		1.20	%		(7.90	)%		(16.92	)%
2021		86		12.37		11.81		1,040		4.60	%		0.20	%		1.20	%		8.13	%		(0.51	)%
Fidelity VIP Asset Manager 50% Portfolio, Initial Class
2025		13		83.64		79.19		1,030		2.33	%		1.25	%		1.40	%		13.56	%		13.39	%
2024		17		73.65		69.84		1,188		2.38	%		1.25	%		1.40	%		7.14	%		6.98	%
2023		18		68.74		65.29		1,198		2.37	%		1.25	%		1.40	%		11.54	%		11.38	%
2022		19		61.63		58.62		1,108		2.02	%		1.25	%		1.40	%		(6.30	)%		(20.10	)%
2021		21		73.36		65.77		1,494		1.58	%		1.25	%		1.55	%		13.79	%		(2.68	)%
Fidelity VIP Balanced Portfolio, Service Class 2
2025		857		24.12		22.12		19,956		1.36	%		0.20	%		1.20	%		14.73	%		13.59	%
2024		1,291		21.02		19.47		26,317		1.62	%		0.20	%		1.20	%		15.40	%		14.24	%
2023		2,005		18.22		17.04		35,435		1.48	%		0.20	%		1.20	%		20.99	%		19.79	%
2022		2,488		15.06		14.23		36,458		1.03	%		0.20	%		1.20	%		(14.45	)%		(22.85	)%
2021		2,854		18.44		17.60		51,465		0.74	%		0.20	%		1.20	%		22.12	%		12.39	%
Fidelity VIP Contrafund Portfolio, Initial Class
2025		6		258.91		247.16		1,420		0.13	%		1.25	%		1.40	%		19.97	%		19.79	%
2024		7		215.81		206.32		1,497		0.18	%		1.25	%		1.40	%		32.12	%		31.92	%
2023		9		163.34		156.39		1,435		0.49	%		1.25	%		1.40	%		31.80	%		31.60	%
2022		9		123.93		118.84		1,144		0.50	%		1.25	%		1.40	%		(21.02	)%		(30.22	)%
2021		10		170.30		156.91		1,649		0.06	%		1.25	%		1.55	%		31.26	%		16.32	%

131

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Fidelity VIP Government Money Market Portfolio, Initial Class
2025		2,139	$	10.70	$	15.71	$	22,785		4.07	%		0.20	%		1.40	%		3.93	%		2.69	%
2024		3,001		10.30		15.30		30,852		4.81	%		0.20	%		1.40	%		2.77	%		3.64	%
2023		45		15.39		14.76		666		4.81	%		1.25	%		1.40	%		3.59	%		3.44	%
2022		39		14.85		14.27		564		1.52	%		1.25	%		1.40	%		21.74	%		(3.77	)%
2021		35		14.83		12.20		505		0.01	%		1.25	%		1.55	%		2.49	%		(18.72	)%
Fidelity VIP Growth Opportunities Portfolio, Initial Class
2025		2		195.95		187.05		386		0.00	%		1.25	%		1.40	%		20.43	%		20.25	%
2024		2		162.70		155.54		349		0.00	%		1.25	%		1.40	%		37.16	%		36.95	%
2023		2		118.63		113.58		269		0.00	%		1.25	%		1.40	%		43.85	%		43.63	%
2022		4		82.47		79.08		290		0.00	%		1.25	%		1.40	%		(33.91	)%		(41.43	)%
2021		6		135.01		124.77		795		0.00	%		1.25	%		1.55	%		14.95	%		2.17	%
Fidelity VIP Growth Portfolio, Initial Class
2025		10		473.23		446.13		4,589		0.29	%		1.25	%		1.40	%		13.47	%		13.30	%
2024		11		417.04		393.75		4,387		0.00	%		1.25	%		1.40	%		28.76	%		28.57	%
2023		12		323.88		306.26		3,627		0.13	%		1.25	%		1.40	%		34.55	%		34.35	%
2022		13		240.72		227.96		2,883		0.62	%		1.25	%		1.40	%		(16.60	)%		(29.35	)%
2021		13		322.65		288.63		3,978		0.00	%		1.25	%		1.55	%		28.11	%		8.86	%
Fidelity VIP High Income Portfolio, Initial Class
2025		2		75.11		75.11		125		6.53	%		1.40	%		1.40	%		8.83	%		8.83	%
2024		2		69.58		69.02		118		5.92	%		1.25	%		1.40	%		2.27	%		7.45	%
2023		2		68.03		64.23		118		4.97	%		1.25	%		1.40	%		9.11	%		8.95	%
2022		2		62.36		53.38		135		5.03	%		1.25	%		1.55	%		1.94	%		(25.07	)%
2021		2		71.24		61.17		163		5.15	%		1.25	%		1.55	%		19.73	%		(11.46	)%
Fidelity VIP Index 500 Portfolio, Initial Class
2025		2		985.60		937.47		1,572		1.15	%		1.25	%		1.40	%		16.31	%		16.14	%
2024		2		847.36		807.19		1,431		1.26	%		1.25	%		1.40	%		23.34	%		23.15	%
2023		2		687.02		655.44		1,533		1.42	%		1.25	%		1.40	%		24.63	%		24.45	%
2022		3		551.24		478.36		1,498		1.44	%		1.25	%		1.55	%		(7.20	)%		(29.91	)%
2021		3		682.46		594.01		1,968		1.26	%		1.25	%		1.55	%		45.45	%		10.52	%

132

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Fidelity VIP International Capital Appreciation Portfolio, Service Class 2
2025		224	$	21.84	$	20.03	$	4,818		0.74	%		0.20	%		1.20	%		18.12	%		16.95	%
2024		132		18.49		17.12		2,359		0.57	%		0.20	%		1.20	%		7.71	%		6.63	%
2023		164		17.17		16.06		2,712		0.14	%		0.20	%		1.20	%		26.93	%		25.67	%
2022		213		13.53		12.78		2,775		0.08	%		0.20	%		1.20	%		(23.19	)%		(30.77	)%
2021		276		18.46		17.61		4,945		0.00	%		0.20	%		1.20	%		16.10	%		6.73	%
Fidelity VIP Investment Grade Bond Portfolio, Initial Class
2025		4		37.00		35.28		133		3.58	%		1.25	%		1.40	%		5.89	%		5.73	%
2024		4		34.94		33.37		130		3.46	%		1.25	%		1.40	%		0.52	%		0.37	%
2023		4		34.76		33.24		134		2.24	%		1.25	%		1.40	%		4.89	%		4.73	%
2022		6		33.14		31.74		201		2.23	%		1.25	%		1.40	%		(10.38	)%		(19.74	)%
2021		7		39.55		36.98		245		2.03	%		1.25	%		1.55	%		4.82	%		(5.86	)%
Fidelity VIP Overseas Portfolio, Initial Class
2025		2		68.57		64.67		135		1.48	%		1.25	%		1.40	%		18.90	%		18.72	%
2024		1		57.67		54.47		80		1.64	%		1.25	%		1.40	%		3.74	%		3.58	%
2023		1		55.59		52.59		79		0.92	%		1.25	%		1.40	%		19.01	%		18.84	%
2022		2		46.71		44.25		87		1.04	%		1.25	%		1.40	%		(16.86	)%		(29.34	)%
2021		2		62.63		56.18		136		0.54	%		1.25	%		1.55	%		24.39	%		6.04	%
First Trust/Dow Jones Dividend & Income Allocation Portfolio, Class I
2025		33		16.14		14.80		490		2.31	%		0.20	%		1.20	%		5.09	%		4.05	%
2024		42		15.36		14.23		597		2.17	%		0.20	%		1.20	%		5.80	%		4.74	%
2023		75		14.52		13.58		1,017		1.80	%		0.20	%		1.20	%		10.29	%		9.19	%
2022		189		13.16		12.44		2,351		1.34	%		0.20	%		1.20	%		(8.20	)%		(17.18	)%
2021		234		15.02		14.34		3,355		0.95	%		0.20	%		1.20	%		16.16	%		6.94	%
Franklin Income VIP Fund, Class 4
2025		243		17.27		16.47		4,055		4.76	%		0.20	%		1.20	%		12.21	%		11.09	%
2024		298		15.39		14.83		4,449		4.80	%		0.20	%		1.20	%		6.86	%		5.79	%
2023		401		14.40		14.02		5,651		4.76	%		0.20	%		1.20	%		8.33	%		7.26	%
2022		793		13.29		13.07		10,388		4.99	%		0.20	%		1.20	%		(4.03	)%		(9.37	)%
2021		720		14.42		13.85		10,111		4.50	%		0.20	%		1.20	%		18.59	%		14.27	%

133

	As of December 31									For the period ended December 31
Subaccount	Units (000’s)			Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
				Low		High							Low			High			Low			High
Goldman Sachs VIT Large Cap Value Fund, Institutional Class
2025		8		$	39.45	$	37.83	$	314		1.13	%		1.25	%		1.40	%		9.51	%		9.34	%
2024		8			36.03		34.60		287		1.54	%		1.25	%		1.40	%		15.63	%		15.46	%
2023		8			31.16		29.97		251		1.78	%		1.25	%		1.40	%		11.61	%		11.45	%
2022		8			27.91		26.89		229		1.35	%		1.25	%		1.40	%		(0.63	)%		(10.94	)%
2021		9			30.19		28.09		252		1.30	%		1.25	%		1.55	%		26.90	%		14.09	%
Goldman Sachs VIT Multi-Strategy Alternatives Portfolio
2025		-			-		-		-		0.00	%		0.20	%		1.20	%		(0.84	)%		(1.11	)%
2024		31			12.06		10.32		327		1.60	%		0.20	%		1.20	%		2.91	%		1.88	%
2023		62			11.72		10.13		643		4.15	%		0.20	%		1.20	%		7.32	%		6.25	%
2022		128			10.92		9.53		1,235		3.23	%		0.20	%		1.20	%		5.70	%		(18.67	)%
2021		139			11.72		10.33		1,451		1.30	%		0.20	%		1.20	%		16.85	%		(7.93	)%
Goldman Sachs VIT Strategic Growth Fund, Institutional Class
2024		0	*		66.00		66.00		29		0.00	%		1.40	%		1.40	%		(4.23	)%		(4.23	)%
2023		-			-		-		-		0.00	%		1.25	%		1.55	%		40.18	%		39.77	%
2022		0	*		-		-		-		0.00	%		1.25	%		1.55	%		(33.35	)%		(33.55	)%
2021		-			56.25		52.39		4		0.00	%		1.25	%		1.55	%		24.58	%		16.04	%
Goldman Sachs VIT U.S. Equity Insights Fund, Institutional Class
2025		1			65.39		62.68		76		0.73	%		1.25	%		1.40	%		14.31	%		14.14	%
2024		1			57.20		54.92		67		0.67	%		1.25	%		1.40	%		26.72	%		26.53	%
2023		1			45.14		43.40		52		0.71	%		1.25	%		1.40	%		22.27	%		22.09	%
2022		1			36.92		35.55		43		0.79	%		1.25	%		1.40	%		(14.80	)%		(23.66	)%
2021		1			46.57		43.33		57		0.83	%		1.25	%		1.55	%		32.30	%		18.91	%
Goldman Sachs VIT U.S. Equity Insights Fund, Service Class
2025		42			31.53		31.07		1,309		0.39	%		0.20	%		1.20	%		15.26	%		14.11	%
2024		77			27.36		27.23		2,131		0.41	%		0.20	%		1.20	%		27.75	%		26.47	%
2023		107			21.41		21.53		2,310		0.40	%		0.20	%		1.20	%		23.34	%		22.12	%
2022		144			17.36		17.63		2,527		0.57	%		0.20	%		1.20	%		(19.25	)%		(25.01	)%
2021		185			23.51		21.50		4,096		0.58	%		0.20	%		1.20	%		34.65	%		27.52	%

134

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Invesco V.I. Core Equity Fund, Series II
2025		4	$	41.40	$	27.59	$	122		0.25	%		0.25	%		1.00	%		15.60	%		14.73	%
2024		10		35.82		24.05		256		0.50	%		0.25	%		1.00	%		24.97	%		24.04	%
2023		10		28.66		19.39		207		0.49	%		0.25	%		1.00	%		22.78	%		21.86	%
2022		10		23.34		15.91		170		0.63	%		0.25	%		1.00	%		(20.96	)%		(10.32	)%
2021		10		29.53		17.74		218		0.41	%		0.25	%		1.20	%		86.31	%		(23.67	)%
Invesco V.I. Core Plus Bond Fund, Series II
2025		20		10.97		10.63		213		3.27	%		0.20	%		1.20	%		6.75	%		5.74	%
2024		32		10.27		10.05		326		2.43	%		0.20	%		1.00	%		2.52	%		1.70	%
2023		97		10.02		9.89		961		2.08	%		0.20	%		1.00	%		5.64	%		4.80	%
2022		152		9.49		9.43		1,433		0.83	%		0.20	%		1.00	%		(5.15	)%		(5.66	)%
Invesco V.I. EQV International Equity Fund, Series II
2025		24		17.64		14.50		417		0.88	%		0.20	%		1.20	%		16.00	%		14.84	%
2024		41		15.21		12.62		623		1.40	%		0.20	%		1.20	%		0.14	%		(0.86	)%
2023		66		15.18		12.73		951		0.00	%		0.20	%		1.20	%		17.63	%		16.46	%
2022		104		12.91		10.93		1,227		1.38	%		0.20	%		1.20	%		(4.95	)%		(46.72	)%
2021		119		20.52		13.58		1,759		1.06	%		0.20	%		1.20	%		49.02	%		(9.83	)%
Invesco V.I. Global Real Estate Fund, Series II
2025		30		11.97		10.65		366		1.50	%		0.20	%		1.20	%		7.40	%		6.33	%
2024		44		11.15		11.67		504		2.17	%		0.20	%		1.20	%		(2.31	)%		4.59	%
2023		74		11.41		11.16		825		1.10	%		0.20	%		1.20	%		8.61	%		7.53	%
2022		103		10.51		10.38		1,090		2.46	%		0.20	%		1.20	%		(19.37	)%		(50.04	)%
2021		124		20.77		13.03		1,759		2.65	%		0.20	%		1.20	%		83.48	%		16.03	%
Invesco V.I. Growth and Income Fund, Series II
2025		110		22.24		22.06		2,897		1.07	%		0.20	%		1.20	%		15.07	%		13.92	%
2024		154		19.33		19.36		3,577		1.09	%		0.20	%		1.20	%		15.49	%		14.33	%
2023		237		16.73		16.94		4,550		1.15	%		0.20	%		1.20	%		12.18	%		11.07	%
2022		358		14.92		18.07		6,002		1.34	%		0.20	%		1.20	%		(5.23	)%		(39.23	)%
2021		344		29.74		15.74		6,069		1.38	%		0.20	%		1.20	%		129.48	%		26.63	%

135

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Invesco V.I. International Growth Fund, Series II
2025		27	$	15.04	$	13.85	$	375		0.06	%		0.25	%		1.20	%		15.24	%		14.15	%
2024		33		13.74		12.13		404		0.27	%		0.20	%		1.20	%		2.75	%		(2.99	)%
2023		70		13.37		12.51		883		0.21	%		0.20	%		1.20	%		20.40	%		19.20	%
2022		137		11.10		10.49		1,435		0.00	%		0.20	%		1.20	%		(23.84	)%		(31.33	)%
2021		155		15.28		14.58		2,260		0.00	%		0.20	%		1.20	%		14.03	%		4.89	%
Invesco V.I. Main Street Small Cap Fund, Series II
2025		74		22.26		21.09		1,641		0.22	%		0.20	%		1.20	%		8.22	%		7.15	%
2024		91		20.57		19.69		1,866		0.00	%		0.20	%		1.20	%		12.18	%		11.06	%
2023		126		18.34		17.73		2,292		0.77	%		0.20	%		1.20	%		17.58	%		16.42	%
2022		207		15.60		15.23		3,191		0.24	%		0.20	%		1.20	%		(15.01	)%		(34.28	)%
2021		252		23.17		18.35		4,685		0.18	%		0.20	%		1.20	%		29.88	%		20.33	%
Invesco V.I. Small Cap Equity Fund, Series II
2025		4		34.61		18.95		108		0.00	%		0.25	%		1.20	%		7.57	%		6.55	%
2024		4		32.18		17.79		103		0.00	%		0.25	%		1.20	%		17.56	%		16.44	%
2023		6		27.37		15.27		127		0.00	%		0.25	%		1.20	%		15.97	%		14.87	%
2022		15		23.60		13.30		239		0.00	%		0.25	%		1.20	%		39.00	%		(55.46	)%
2021		19		29.85		16.98		368		0.00	%		0.20	%		1.20	%		108.60	%		(31.86	)%
Janus Henderson VIT Balanced Portfolio, Service Shares
2025		600		24.11		24.96		14,821		1.67	%		0.20	%		1.20	%		14.59	%		13.45	%
2024		709		21.04		22.00		15,207		1.67	%		0.20	%		1.20	%		14.92	%		13.77	%
2023		1,017		18.31		19.34		18,887		1.51	%		0.20	%		1.20	%		14.90	%		13.77	%
2022		1,914		15.93		17.00		33,260		0.92	%		0.20	%		1.20	%		(13.26	)%		(40.87	)%
2021		2,466		28.75		18.37		50,455		0.67	%		0.20	%		1.20	%		60.97	%		11.94	%
Janus Henderson VIT Enterprise Portfolio, Service Shares
2025		129		28.47		27.78		3,670		0.05	%		0.20	%		1.20	%		7.20	%		6.13	%
2024		209		26.56		26.17		5,581		0.61	%		0.20	%		1.20	%		15.09	%		13.94	%
2023		303		23.08		22.97		7,043		0.08	%		0.20	%		1.20	%		17.54	%		16.37	%
2022		434		19.63		19.85		8,634		0.08	%		0.20	%		1.20	%		(15.48	)%		(22.23	)%
2021		516		25.53		23.23		12,321		0.24	%		0.20	%		1.20	%		22.68	%		15.17	%

136

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Janus Henderson VIT Flexible Bond Portfolio, Service Shares
2025		115	$	11.79	$	23.45	$	1,362		4.46	%		0.20	%		1.40	%		7.01	%		5.73	%
2024		126		11.02		22.18		1,406		3.92	%		0.20	%		1.40	%		1.42	%		0.21	%
2023		186		10.87		22.13		1,992		3.42	%		0.20	%		1.40	%		5.08	%		3.83	%
2022		232		10.34		21.31		2,356		1.89	%		0.20	%		1.40	%		(9.77	)%		(17.83	)%
2021		293		25.94		11.46		3,455		1.64	%		0.20	%		1.55	%		0.78	%		(5.99	)%
Janus Henderson VIT Mid Cap Value Portfolio, Service Shares
2025		5		30.94		21.49		157		0.68	%		0.25	%		1.00	%		6.03	%		5.24	%
2024		5		29.18		20.42		152		0.83	%		0.25	%		1.00	%		12.52	%		11.67	%
2023		6		25.93		18.28		147		0.97	%		0.25	%		1.00	%		10.83	%		10.00	%
2022		6		23.40		16.62		136		1.18	%		0.25	%		1.00	%		33.47	%		(33.22	)%
2021		8		24.89		17.53		184		0.31	%		0.25	%		1.20	%		67.61	%		(16.12	)%
Janus Henderson VIT Overseas Portfolio, Institutional Shares
2025		2		41.44		39.70		97		1.45	%		1.25	%		1.40	%		27.27	%		27.08	%
2024		2		32.56		31.24		77		1.33	%		1.25	%		1.40	%		4.51	%		4.36	%
2023		3		31.15		29.94		88		1.51	%		1.25	%		1.40	%		9.50	%		9.34	%
2022		2		28.45		27.38		67		1.75	%		1.25	%		1.40	%		(2.71	)%		(13.14	)%
2021		3		31.52		29.24		78		1.14	%		1.25	%		1.55	%		16.22	%		4.06	%
Janus Henderson VIT Overseas Portfolio, Service Shares
2025		2		23.35		17.08		40		1.33	%		0.25	%		1.00	%		28.26	%		27.30	%
2024		2		18.21		13.42		33		1.29	%		0.25	%		1.00	%		5.31	%		4.52	%
2023		2		17.29		12.84		31		1.42	%		0.25	%		1.00	%		10.31	%		9.49	%
2022		2		15.67		11.72		31		1.23	%		0.25	%		1.00	%		22.63	%		(31.95	)%
2021		6		17.23		12.78		86		1.03	%		0.25	%		1.20	%		50.88	%		(16.20	)%
Lord Abbett Series Fund Developing Growth Portfolio, Class VC
2025		12		28.14		20.47		258		0.19	%		0.45	%		1.20	%		14.08	%		13.23	%
2024		13		24.67		18.08		242		0.16	%		0.45	%		1.20	%		21.63	%		20.71	%
2023		13		20.28		14.97		216		0.00	%		0.45	%		1.20	%		7.69	%		6.89	%
2022		25		18.84		17.65		365		0.00	%		0.45	%		1.20	%		(14.97	)%		(41.17	)%
2021		29		30.01		22.15		690		0.00	%		0.20	%		1.20	%		3.34	%		(27.45	)%

137

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
LVIP American Century Inflation Protection Fund, Service Class
2025		26	$	12.17	$	11.23	$	317		7.01	%		0.20	%		1.20	%		6.12	%		5.06	%
2024		49		11.47		10.69		557		3.66	%		0.20	%		1.20	%		1.34	%		0.32	%
2023		83		11.32		10.66		916		3.08	%		0.20	%		1.20	%		3.19	%		2.17	%
2022		136		10.97		10.43		1,448		4.75	%		0.20	%		1.20	%		(8.12	)%		(18.45	)%
2021		154		12.79		11.94		1,906		3.20	%		0.20	%		1.20	%		10.54	%		0.17	%
LVIP American Century Mid Cap Value Fund, Service Class
2025		144		18.88		20.17		3,152		1.49	%		0.20	%		1.20	%		8.61	%		7.53	%
2024		171		17.38		22.83		3,550		2.18	%		0.20	%		1.20	%		8.31	%		8.22	%
2023		268		16.05		21.09		5,010		2.10	%		0.20	%		1.20	%		5.82	%		4.77	%
2022		470		15.17		20.14		8,077		2.09	%		0.20	%		1.20	%		(0.61	)%		(36.46	)%
2021		530		31.69		15.26		9,431		1.02	%		0.20	%		1.20	%		86.41	%		21.59	%
LVIP American Century Value Fund, Service Class
2025		214		21.31		21.98		4,701		1.42	%		0.20	%		1.20	%		15.62	%		14.47	%
2024		262		18.43		19.20		5,013		2.50	%		0.20	%		1.20	%		9.07	%		7.98	%
2023		593		16.89		17.78		10,412		2.16	%		0.20	%		1.20	%		8.80	%		7.72	%
2022		738		15.53		16.51		12,137		1.93	%		0.20	%		1.20	%		1.09	%		(5.73	)%
2021		780		17.51		15.36		12,903		1.61	%		0.20	%		1.20	%		29.13	%		22.78	%
LVIP JPMorgan Small Cap Core Fund, Service Class
2025		19		15.56		14.95		307		0.44	%		0.20	%		1.20	%		5.84	%		8.69	%
2024		21		14.71		13.76		298		0.35	%		0.20	%		1.20	%		11.21	%		10.10	%
2023		28		13.22		12.49		350		0.93	%		0.20	%		1.20	%		12.58	%		11.46	%
2022		31		11.75		11.21		355		0.08	%		0.20	%		1.20	%		(16.70	)%		(23.38	)%
2021		40		14.63		14.10		571		0.26	%		0.20	%		1.20	%		24.09	%		19.59	%
LVIP Nomura U.S. REIT Fund, Service Class
2025		16		13.42		13.29		221		2.24	%		0.20	%		1.20	%		0.52	%		(0.48	)%
2024		19		13.35		13.35		293		1.60	%		0.20	%		1.20	%		7.33	%		6.26	%
2023		73		12.44		12.57		952		2.76	%		0.20	%		1.20	%		12.02	%		10.91	%
2022		100		11.10		11.33		1,170		2.45	%		0.20	%		1.20	%		(24.92	)%		(54.38	)%
2021		143		24.84		14.79		2,264		2.37	%		0.20	%		1.20	%		90.34	%		40.86	%

138

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
MFS VIT II Blended Research Core Equity Portfolio, Service Class
2025		100	$	32.48	$	31.19	$	3,195		0.76	%		0.20	%		1.20	%		15.59	%		14.44	%
2024		107		28.10		27.25		2,959		0.91	%		0.20	%		1.20	%		24.93	%		23.68	%
2023		123		22.49		22.04		2,746		0.98	%		0.20	%		1.20	%		27.95	%		26.68	%
2022		167		17.58		17.40		2,919		0.87	%		0.20	%		1.20	%		(15.52	)%		(21.57	)%
2021		169		22.18		20.81		3,543		0.91	%		0.20	%		1.20	%		34.75	%		27.59	%
MFS VIT II International Growth Portfolio, Service Class
2025		15		17.29		16.17		259		0.70	%		0.20	%		1.20	%		20.57	%		19.37	%
2024		18		14.34		13.55		260		0.75	%		0.20	%		1.20	%		8.54	%		7.46	%
2023		26		13.21		12.61		337		0.95	%		0.20	%		1.20	%		14.17	%		13.03	%
2022		22		11.57		11.15		250		0.40	%		0.20	%		1.20	%		(13.07	)%		(18.41	)%
2021		20		13.67		13.31		272		0.44	%		0.20	%		1.20	%		10.60	%		5.89	%
MFS VIT II Technology Portfolio, Service Class
2025		243		48.83		48.51		11,923		0.00	%		0.20	%		1.20	%		16.04	%		14.89	%
2024		310		42.08		42.22		13,093		0.00	%		0.20	%		1.20	%		36.17	%		34.81	%
2023		350		30.90		31.32		10,950		0.00	%		0.20	%		1.20	%		53.51	%		51.99	%
2022		521		20.13		20.60		10,687		0.00	%		0.20	%		1.20	%		(35.33	)%		(39.95	)%
2021		643		34.31		31.13		20,764		0.00	%		0.20	%		1.20	%		18.27	%		12.06	%
MFS VIT III Blended Research Small Cap Equity Portfolio, Service Class
2025		55		18.28		16.76		976		0.90	%		0.20	%		1.20	%		5.28	%		4.23	%
2024		116		17.36		16.08		1,982		0.76	%		0.20	%		1.20	%		4.44	%		3.39	%
2023		136		16.63		15.55		2,222		0.54	%		0.20	%		1.20	%		18.43	%		17.26	%
2022		172		14.04		13.26		2,357		0.50	%		0.20	%		1.20	%		(14.81	)%		(23.19	)%
2021		175		17.27		16.48		2,965		0.68	%		0.20	%		1.20	%		33.67	%		22.99	%
Neuberger Berman AMT Quality Equity Portfolio, Class S
2025		32		29.51		28.18		998		0.00	%		0.20	%		1.20	%		13.21	%		12.08	%
2024		39		26.07		25.14		1,147		0.00	%		0.20	%		1.20	%		25.27	%		24.02	%
2023		56		20.81		20.27		1,336		0.07	%		0.20	%		1.20	%		26.31	%		25.06	%
2022		89		16.47		16.21		1,598		0.12	%		0.20	%		1.20	%		(18.00	)%		(55.07	)%
2021		91		36.08		20.09		2,030		0.18	%		0.20	%		1.20	%		117.74	%		(31.60	)%

139

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Nomura VIP Emerging Markets Series, Service Class
2025		69	$	26.49	$	23.54	$	1,713		1.19	%		0.20	%		1.20	%		80.41	%		78.62	%
2024		81		14.68		13.18		1,128		2.22	%		0.20	%		1.20	%		4.56	%		3.51	%
2023		154		14.04		12.73		2,011		1.32	%		0.20	%		1.20	%		13.22	%		12.10	%
2022		202		12.40		11.36		2,352		3.99	%		0.20	%		1.20	%		(8.81	)%		(38.90	)%
2021		268		18.59		13.60		4,355		0.06	%		0.20	%		1.20	%		11.72	%		(23.64	)%
Nomura VIP Energy Series, Service Class
2025		133		8.67		9.44		1,179		0.98	%		0.20	%		1.20	%		11.66	%		10.55	%
2024		155		7.76		8.54		1,240		3.04	%		0.20	%		1.20	%		(5.79	)%		(6.73	)%
2023		189		8.24		9.16		1,626		2.52	%		0.20	%		1.20	%		3.81	%		2.78	%
2022		333		7.94		8.91		2,856		2.85	%		0.20	%		1.20	%		51.80	%		40.78	%
2021		286		6.33		5.23		1,620		1.94	%		0.20	%		1.20	%		48.24	%		40.21	%
Nomura VIP International Core Equity Series, Service Class
2025		7		12.14		12.24		83		0.45	%		0.25	%		1.20	%		11.01	%		22.69	%
2024		13		9.97		9.97		126		1.41	%		1.20	%		1.20	%		(0.27	)%		(0.27	)%
Nomura VIP Small Cap Value Series, Service Class
2025		62		17.47		19.00		1,217		1.01	%		0.20	%		1.20	%		7.61	%		6.54	%
2024		76		16.24		17.83		1,456		1.03	%		0.20	%		1.20	%		10.80	%		9.69	%
2023		106		14.65		16.25		1,807		0.68	%		0.20	%		1.20	%		8.88	%		7.80	%
2022		188		13.46		15.08		2,891		0.54	%		0.20	%		1.20	%		(11.63	)%		(48.17	)%
2021		245		29.09		15.23		4,356		0.62	%		0.20	%		1.20	%		121.22	%		32.43	%
NVIT Fidelity Institutional AM Emerging Markets Fund, Class D
2025		4		14.11		14.11		56		0.31	%		1.40	%		1.40	%		33.88	%		33.88	%
2024		4		10.54		10.54		45		1.35	%		1.40	%		1.40	%		4.50	%		4.50	%
2023		4		10.08		10.08		45		1.43	%		1.40	%		1.40	%		2.36	%		2.36	%
2022		5		9.85		9.85		45		0.16	%		1.40	%		1.40	%		(25.43	)%		(26.65	)%
2021		5		13.43		13.21		72		0.90	%		1.25	%		1.55	%		(8.14	)%		(10.20	)%

140

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
PIMCO VIT CommodityRealReturn Strategy Portfolio, Advisor Class
2025		89	$	15.92	$	12.90	$	1,239		2.71	%		0.20	%		1.20	%		18.42	%		17.25	%
2024		109		13.45		11.00		1,231		1.58	%		0.20	%		1.20	%		3.76	%		5.00	%
2023		262		12.96		10.71		3,131		14.12	%		0.20	%		1.20	%		(8.12	)%		(9.03	)%
2022		200		14.10		11.78		2,418		20.46	%		0.20	%		1.20	%		84.14	%		(9.48	)%
2021		156		13.01		7.66		1,678		4.06	%		0.20	%		1.20	%		56.00	%		(21.76	)%
PIMCO VIT Long-Term U.S. Government Portfolio, Advisor Class
2025		57		9.69		8.28		507		3.22	%		0.20	%		1.20	%		5.97	%		4.92	%
2024		72		9.14		7.90		604		2.60	%		0.20	%		1.20	%		(6.29	)%		(7.23	)%
2023		119		9.76		8.51		1,057		2.25	%		0.20	%		1.20	%		3.68	%		2.65	%
2022		231		9.41		8.29		1,920		1.98	%		0.20	%		1.20	%		(20.31	)%		(37.52	)%
2021		76		13.27		11.81		924		1.49	%		0.20	%		1.20	%		5.57	%		(15.52	)%
PIMCO VIT Low Duration Portfolio, Advisor Class
2025		265		11.46		10.35		2,927		3.85	%		0.20	%		1.20	%		5.21	%		4.16	%
2024		299		10.90		9.94		3,151		3.89	%		0.20	%		1.20	%		4.18	%		3.14	%
2023		415		10.46		9.64		4,173		3.52	%		0.20	%		1.20	%		4.66	%		3.62	%
2022		364		9.99		9.30		3,558		1.50	%		0.20	%		1.20	%		0.23	%		(17.49	)%
2021		417		11.27		9.97		4,356		0.41	%		0.20	%		1.20	%		10.27	%		(7.43	)%
PIMCO VIT Real Return Portfolio, Advisor Class
2025		108		12.70		11.62		1,355		3.19	%		0.20	%		1.20	%		7.53	%		6.46	%
2024		114		11.81		11.07		1,329		2.55	%		0.20	%		1.20	%		1.83	%		3.48	%
2023		127		11.60		10.83		1,425		2.86	%		0.20	%		1.20	%		3.36	%		2.33	%
2022		189		11.22		10.58		2,056		6.42	%		0.20	%		1.20	%		(6.67	)%		(18.36	)%
2021		471		12.96		12.02		5,766		4.96	%		0.20	%		1.20	%		11.05	%		(0.91	)%
PIMCO VIT Short-Term Portfolio, Advisor Class
2025		193		12.48		11.54		2,329		4.38	%		0.20	%		1.20	%		4.36	%		3.32	%
2024		308		11.96		11.17		3,616		4.92	%		0.20	%		1.20	%		5.73	%		4.68	%
2023		397		11.31		10.67		4,404		4.33	%		0.20	%		1.20	%		5.59	%		4.54	%
2022		613		10.71		10.21		6,448		1.47	%		0.20	%		1.20	%		3.38	%		(6.66	)%
2021		728		10.94		10.36		7,734		1.01	%		0.20	%		1.20	%		4.19	%		(4.07	)%

141

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
PIMCO VIT Total Return Portfolio, Advisor Class
2025		952	$	11.97	$	10.96	$	11,499		4.01	%		0.20	%		1.20	%		8.56	%		7.48	%
2024		1,051		11.02		10.20		11,608		3.97	%		0.20	%		1.20	%		2.23	%		1.20	%
2023		761		10.78		10.08		8,204		3.46	%		0.20	%		1.20	%		5.62	%		4.57	%
2022		892		10.21		9.64		9,070		2.49	%		0.20	%		1.20	%		(10.36	)%		(28.49	)%
2021		1,054		13.48		11.39		12,554		1.72	%		0.20	%		1.20	%		15.31	%		(6.18	)%
Putnam VT Core Equity Fund, Class IB
2025		48		36.08		34.16		1,709		0.40	%		0.20	%		1.20	%		16.57	%		15.41	%
2024		54		30.95		29.60		1,668		0.62	%		0.20	%		1.20	%		26.70	%		25.44	%
2023		57		24.43		23.60		1,380		0.52	%		0.20	%		1.20	%		27.83	%		26.56	%
2022		74		19.11		18.65		1,395		0.89	%		0.20	%		1.20	%		(14.69	)%		(22.57	)%
2021		32		24.08		22.40		726		0.51	%		0.20	%		1.20	%		39.11	%		28.81	%
Putnam VT Emerging Markets Equity Fund, Class IB
2025		3		17.13		16.11		53		0.64	%		1.00	%		1.20	%		32.82	%		32.56	%
2024		3		12.90		12.15		40		1.37	%		1.00	%		1.20	%		14.41	%		14.18	%
2023		3		11.28		10.64		35		0.66	%		1.00	%		1.20	%		10.48	%		10.26	%
2022		8		15.36		9.65		100		0.00	%		0.25	%		1.20	%		14.05	%		(54.56	)%
2021		8		21.24		13.47		140		0.47	%		0.20	%		1.20	%		49.26	%		(39.38	)%
Putnam VT Focused International Equity Fund, Class IB
2025		25		21.85		19.77		502		3.40	%		0.25	%		1.20	%		36.10	%		34.81	%
2024		35		16.05		14.66		512		1.63	%		0.25	%		1.20	%		3.04	%		2.06	%
2023		52		15.58		14.37		755		0.76	%		0.25	%		1.20	%		11.98	%		17.83	%
2022		82		13.23		13.02		1,005		1.82	%		1.00	%		1.20	%		(12.26	)%		(25.43	)%
2021		99		17.46		15.08		1,502		0.76	%		0.20	%		1.20	%		20.58	%		(2.96	)%
Putnam VT Global Asset Allocation Fund, Class IB
2025		61		20.68		19.72		1,172		2.23	%		0.20	%		1.20	%		14.15	%		13.02	%
2024		68		18.11		17.45		1,158		2.08	%		0.20	%		1.20	%		16.12	%		14.96	%
2023		82		15.60		15.18		1,208		1.93	%		0.20	%		1.20	%		17.25	%		16.09	%
2022		183		13.30		13.08		2,311		1.40	%		0.20	%		1.20	%		(12.48	)%		(19.39	)%
2021		275		16.22		15.20		4,195		0.69	%		0.20	%		1.20	%		15.86	%		8.88	%

142

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Putnam VT Income Fund, Class IB
2025		128	$	11.62	$	10.42	$	1,452		4.77	%		0.20	%		1.20	%		7.04	%		5.97	%
2024		138		10.85		9.83		1,448		6.56	%		0.20	%		1.20	%		2.12	%		1.09	%
2023		223		10.63		9.72		2,259		5.82	%		0.20	%		1.20	%		4.49	%		3.45	%
2022		267		10.17		9.40		2,578		5.59	%		0.20	%		1.20	%		(7.87	)%		(20.48	)%
2021		288		11.82		11.04		3,262		1.50	%		0.20	%		1.20	%		0.94	%		(11.11	)%
Putnam VT International Equity Fund, Class IB
2025		27		21.98		17.47		509		0.01	%		0.20	%		1.20	%		37.41	%		36.04	%
2024		20		16.00		12.84		277		2.21	%		0.20	%		1.20	%		2.77	%		1.74	%
2023		24		15.57		12.62		315		0.04	%		0.20	%		1.20	%		18.27	%		17.10	%
2022		53		13.16		10.78		577		1.64	%		0.20	%		1.20	%		2.92	%		(30.38	)%
2021		80		15.48		12.79		1,046		0.72	%		0.20	%		1.20	%		30.08	%		(10.25	)%
Putnam VT International Value Fund, Class IB
2025		15		22.71		20.59		326		1.09	%		0.20	%		1.20	%		3.71	%		33.07	%
2024		7		17.08		15.47		106		3.20	%		0.25	%		1.20	%		6.72	%		3.95	%
2023		13		16.01		14.88		195		2.58	%		0.25	%		1.20	%		18.38	%		17.27	%
2022		18		13.52		12.69		233		2.30	%		0.25	%		1.20	%		(1.87	)%		(13.14	)%
2021		27		14.61		13.78		381		1.61	%		0.20	%		1.20	%		20.45	%		8.59	%
Putnam VT Large Cap Growth Fund, Class IB
2025		175		46.90		43.09		7,918		0.00	%		0.20	%		1.20	%		14.11	%		12.97	%
2024		223		41.10		38.14		8,827		0.00	%		0.20	%		1.20	%		33.14	%		31.81	%
2023		252		30.87		30.24		7,522		0.00	%		0.20	%		1.20	%		44.19	%		42.76	%
2022		290		21.41		21.18		6,003		0.00	%		0.20	%		1.20	%		(27.47	)%		(33.45	)%
2021		353		31.83		29.52		10,670		0.00	%		0.20	%		1.20	%		25.07	%		17.05	%
Putnam VT Large Cap Value Fund, Class IB
2025		41		28.75		26.47		1,093		1.39	%		0.25	%		1.20	%		20.05	%		18.91	%
2024		41		23.95		22.26		928		1.14	%		0.25	%		1.20	%		18.84	%		17.71	%
2023		47		20.15		18.91		900		2.19	%		0.25	%		1.20	%		15.38	%		14.29	%
2022		75		17.46		16.55		1,249		1.46	%		0.25	%		1.20	%		1.01	%		(8.68	)%
2021		76		18.12		17.29		1,328		1.18	%		0.20	%		1.20	%		31.88	%		21.50	%

143

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
Putnam VT Mortgage Securities Fund, Class IB
2025		12	$	11.51	$	10.28	$	138		8.41	%		0.20	%		1.20	%		8.87	%		7.79	%
2024		10		10.57		9.53		109		6.58	%		0.20	%		1.20	%		4.55	%		3.50	%
2023		10		10.11		9.21		106		16.58	%		0.20	%		1.20	%		5.06	%		4.02	%
2022		15		9.63		8.85		143		11.56	%		0.20	%		1.20	%		(3.44	)%		(20.44	)%
2021		26		11.13		9.97		269		0.00	%		0.20	%		1.20	%		4.12	%		(10.74	)%
Putnam VT Research Fund, Class IB
2025		6		35.38		33.70		190		0.71	%		0.20	%		1.20	%		14.59	%		16.47	%
2024		19		30.88		28.93		555		0.39	%		0.20	%		1.20	%		26.02	%		24.76	%
2023		24		24.50		23.19		567		0.84	%		0.20	%		1.20	%		28.60	%		27.33	%
2022		29		19.05		18.21		536		0.57	%		0.20	%		1.20	%		(14.53	)%		(24.04	)%
2021		33		23.98		22.29		750		0.09	%		0.20	%		1.20	%		26.61	%		19.65	%
Putnam VT Small Cap Growth Fund, Class IB
2025		6		42.17		24.06		170		0.44	%		0.25	%		1.20	%		8.53	%		7.51	%
2024		12		38.85		22.38		290		0.00	%		0.25	%		1.20	%		23.02	%		21.85	%
2023		17		31.58		18.37		326		0.00	%		0.25	%		1.20	%		22.84	%		21.68	%
2022		26		15.30		15.10		413		0.00	%		0.20	%		1.20	%		(27.74	)%		(58.01	)%
2021		28		35.95		21.17		614		0.00	%		0.20	%		1.20	%		89.81	%		12.55	%
Putnam VT Small Cap Value Fund, Class IB
2025		21		18.46		19.41		401		0.67	%		0.20	%		1.20	%		5.06	%		4.02	%
2024		31		17.57		18.66		566		0.96	%		0.20	%		1.20	%		5.98	%		4.92	%
2023		38		16.57		17.79		667		0.18	%		0.20	%		1.20	%		23.51	%		22.28	%
2022		72		13.42		14.55		1,033		0.17	%		0.20	%		1.20	%		(12.29	)%		(20.52	)%
2021		113		18.30		15.30		1,846		0.63	%		0.20	%		1.20	%		49.51	%		38.21	%
T. Rowe Price Blue Chip Growth Portfolio, Class II
2025		755		40.38		36.40		29,792		0.00	%		0.20	%		1.20	%		18.20	%		17.02	%
2024		930		34.16		36.47		31,020		0.00	%		0.20	%		1.20	%		34.90	%		33.55	%
2023		1,311		25.33		28.67		32,348		0.00	%		0.20	%		1.20	%		48.66	%		47.19	%
2022		1,786		17.04		19.48		29,645		0.00	%		0.20	%		1.20	%		(34.75	)%		(43.64	)%
2021		2,178		34.56		26.11		59,314		0.00	%		0.20	%		1.20	%		24.68	%		9.84	%

144

	As of December 31								For the period ended December 31
Subaccount	Units (000’s)		Unit Fair Value Corresponding to the Lowest and Highest Expense Ratios				Net Assets (000’s)		Investment Income Ratio ^(a)			Expense Ratios^(b)						Total Return ^(c) Corresponding to the Lowest and Highest Expense Ratios
			Low		High							Low			High			Low			High
T. Rowe Price Health Sciences Portfolio, Class II
2025		197	$	25.34	$	22.19	$	4,901		0.00	%		0.20	%		1.20	%		17.57	%		16.40	%
2024		282		21.56		19.06		5,940		0.00	%		0.20	%		1.20	%		1.21	%		0.20	%
2023		442		21.30		19.02		9,033		0.00	%		0.20	%		1.20	%		2.48	%		1.46	%
2022		676		20.78		26.77		13,303		0.00	%		0.20	%		1.20	%		(4.36	)%		(54.45	)%
2021		755		58.77		21.73		17,122		0.00	%		0.20	%		1.20	%		111.17	%		2.60	%
VanEck VIP Emerging Markets Fund, Initial Class
2025		2		39.32		39.32		86		0.73	%		1.40	%		1.40	%		28.12	%		28.12	%
2024		1		30.69		30.69		44		1.91	%		1.40	%		1.40	%		(0.21	)%		(0.21	)%
2023		3		30.75		30.75		79		3.90	%		1.40	%		1.40	%		8.25	%		8.25	%
2022		1		28.41		28.41		30		0.28	%		1.40	%		1.40	%		(22.47	)%		(28.30	)%
2021		1		39.62		36.64		46		0.93	%		1.25	%		1.55	%		(9.61	)%		(16.40	)%
VanEck VIP Global Resources Fund, Class S
2025		26		14.87		13.72		362		2.08	%		0.20	%		1.20	%		35.90	%		34.55	%
2024		38		10.94		10.20		387		1.96	%		0.20	%		1.20	%		(3.28	)%		4.72	%
2023		100		11.32		10.65		1,092		2.53	%		0.20	%		1.20	%		(4.03	)%		(4.98	)%
2022		130		11.79		11.21		1,468		1.52	%		0.20	%		1.20	%		57.43	%		2.54	%
2021		100		10.93		7.49		1,011		0.32	%		0.20	%		1.20	%		22.12	%		(18.85	)%
VanEck VIP Global Resources Fund, Initial Class
2025		2		53.02		53.02		91		0.78	%		1.40	%		1.40	%		34.59	%		34.59	%
2024		2		39.40		39.40		60		2.81	%		1.40	%		1.40	%		(4.19	)%		(4.19	)%
2023		5		41.12		41.12		205		2.66	%		1.40	%		1.40	%		(4.92	)%		(4.92	)%
2022		7		45.47		43.25		294		2.07	%		1.25	%		1.40	%		17.95	%		1.81	%
2021		3		42.48		38.55		132		0.46	%		1.25	%		1.55	%		23.13	%		11.74	%

* The Subaccount has units and/or dollars that round to less than one thousand.

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^(a)These ratios represent the dividends received by the Subaccount, excluding distributions of capital gains, divided by the daily average net assets. These ratios exclude expenses, such as mortality and expense risk fees, 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 mutual fund in which the Subaccounts invest.

^(b)These ratios represent the annualized Contract expenses of the respective Subaccounts of the Separate Account, consisting primarily of mortality and expense risk fees and excluding investment advisory expenses, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to Contract owner accounts through the redemption of units and expenses of the underlying mutual fund are excluded.

^(c)These amounts represent the total return for the periods indicated, include changes in the value of the underlying mutual fund, and reflect deductions for all items included in the expense ratio. These amounts are not annualized and represent each Subaccount’s total return for the periods during which the Subaccount held investment balances. The total return does not include any expenses addressed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented.

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SUBSEQUENT EVENTS

The Separate Account has evaluated the effects of events subsequent to December 31, 2025, and through April 16, 2026, the date at which the financial statements were available to be issued. All accounting and disclosure requirements related to subsequent events are included in our financial statements.

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