0001048606 2026-08-10 2026-08-10 0001048606 cik0001048606:CalamosUSEquityAutocallableVIPFundClassIIMember 2026-08-10 2026-08-10 pure 2026-08-10 N-4 N-4 Lincoln Life Variable Annuity Account N <div> <span style="font-family: Arial; font-size: 10.0pt;">The changes described in this Supplement affect: </span> </div><div style="font-size: 10pt;">  </div><div style="margin-left: 18.0pt; font-size: 10pt;"> <div style="float: left; text-align: right;"> <span style="min-width: 18pt; display: inline-block; text-align: left;">●</span> </div> <div style="margin-left: 18.0pt;"> <span style="font-family: Arial;">Appendix A – Investment Options Available Under The Contract; and</span> </div> </div><div style="margin-left: 18.0pt; font-size: 10pt; clear: both;"> <div style="float: left; text-align: right;"> <span style="min-width: 18pt; display: inline-block; text-align: left;">●</span> </div> <div style="margin-left: 18.0pt;"> <span style="font-family: Arial;">Appendix B – Investment Requirements. </span> </div> </div><div style="font-size: 10pt; clear: both;">  </div><div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold; text-decoration: underline;">Appendix A – Investment Options Available Under The Contract:</span> </div><div style="font-size: 10pt;">  </div><div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold;">Addition of a New Investment Option: </span><span style="font-family: Arial; font-size: 10.0pt;">On or about August 17, 2026, the following fund will be added as an investment option under your Contract: </span> </div><div style="font-size: 11pt;">  </div><table style="border-spacing : 0px; border-collapse : collapse; margin-left : auto; margin-right : auto; "> <tr style="height: 0px; font-size: 0px;"> <td style="width: 157.5pt;"> </td> <td style="width: 157.5pt;"> </td> <td style="width: 54pt;"> </td> <td style="width: 58.5pt;"> </td> <td style="width: 49.5pt;"> </td> <td style="width: 54pt;"> </td> </tr> <tr style="vertical-align: top;"> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; width: 157.5pt; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Investment Objective</span> </td> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; width: 157.5pt; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Fund and Adviser/Sub-adviser</span> </td> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; width: 54pt; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Current Expenses</span> </td> <td colspan="3" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Average Annual Total Returns (as of 12/31/2025)</span> </td> </tr> <tr style="vertical-align: top; height: 21.55pt;"> <td style="padding: 0px 5.4pt 0px 5px; width: 58.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 1 Year </td> <td style="padding: 0px 5.4pt 0px 5px; width: 49.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 5 Year </td> <td style="padding: 0px 5.4pt 0px 5px; width: 54pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 10 Year </td> </tr> <tr style="vertical-align: top; height: 21.55pt;"> <td style="padding: 0px 5.4pt 0px 5px; width: 157.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle;"> <div> <span style="font-family: Arial; font-size: 10.0pt;">To generate high income while providing reduced downside risk through exposure to the MerQube US Large-Cap Vol Advantage Autocallable VIP Index (the “Autocallable Index”).</span> </div> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 157.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">Calamos U.S. Equity Autocallable VIP Fund – Class II</span> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 54pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">1.16%*</span> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 58.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">N/A</span> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 49.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">N/A</span> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 54pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">N/A</span> </td> </tr> </table><div style="font-size: 10pt;">  </div><div> <span style="font-family: Arial; font-size: 8.0pt;">*This fund is subject to an expense reimbursement or fee waiver arrangement. As a result, the fund’s annual expenses reflect temporary expense reductions. </span> </div><div style="font-size: 10pt;">  </div><div> <span style="font-family: Arial; font-size: 10.0pt;">For more complete information about the fund, including its principal investment strategies and principal risks, please refer to the underlying fund prospectus. </span> </div><div style="font-size: 10pt;">  </div><div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold; text-decoration: underline;">Appendix B – Investment Requirements:</span> </div><div style="font-size: 10pt;">  </div><div> <span style="font-family: Arial; font-size: 10pt;">If you have elected a Living Benefit Rider, you may be subject to the Investment Requirements outlined in the Prospectus, according to which Living Benefit Rider you own and when you elected that Living Benefit Rider. Please refer to your Prospectus to determine if you are subject to Investment Requirements. The change outlined below is effective for August 17, 2026, and is in addition to the existing Investment Requirements in your Prospectus. All other provisions of Investment Requirements remain unchanged. </span> </div><div style="font-size: 10pt;">  </div><div> <span style="font-family: Arial; font-size: 10.0pt;">The Calamos U.S. Equity Autocallable VIP Fund is not available under any Investment Requirements described in the Prospectus. </span> </div> <div> <span style="font-family: Arial; font-size: 10.0pt;">The changes described in this Supplement affect: </span> </div><div style="float: left; text-align: right;"> <span style="min-width: 18pt; display: inline-block; text-align: left;">●</span> </div><div style="margin-left: 18.0pt;"> <span style="font-family: Arial;">Appendix A – Investment Options Available Under The Contract; and</span> </div><div style="float: left; text-align: right;"> <span style="min-width: 18pt; display: inline-block; text-align: left;">●</span> </div><div style="margin-left: 18.0pt;"> <span style="font-family: Arial;">Appendix B – Investment Requirements. </span> </div><div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold; text-decoration: underline;">Appendix A – Investment Options Available Under The Contract:</span> </div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold;">Addition of a New Investment Option: </span>On or about August 17, 2026, the following fund will be added as an investment option under your Contract <table style="border-spacing : 0px; border-collapse : collapse; margin-left : auto; margin-right : auto; "> <tr style="height: 0px; font-size: 0px;"> <td style="width: 157.5pt;"> </td> <td style="width: 157.5pt;"> </td> <td style="width: 54pt;"> </td> <td style="width: 58.5pt;"> </td> <td style="width: 49.5pt;"> </td> <td style="width: 54pt;"> </td> </tr> <tr style="vertical-align: top;"> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; width: 157.5pt; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Investment Objective</span> </td> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; width: 157.5pt; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Fund and Adviser/Sub-adviser</span> </td> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; width: 54pt; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Current Expenses</span> </td> <td colspan="3" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Average Annual Total Returns (as of 12/31/2025)</span> </td> </tr> <tr style="vertical-align: top; height: 21.55pt;"> <td style="padding: 0px 5.4pt 0px 5px; width: 58.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 1 Year </td> <td style="padding: 0px 5.4pt 0px 5px; width: 49.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 5 Year </td> <td style="padding: 0px 5.4pt 0px 5px; width: 54pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 10 Year </td> </tr> <tr style="vertical-align: top; height: 21.55pt;"> <td style="padding: 0px 5.4pt 0px 5px; width: 157.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle;"> <div> <span style="font-family: Arial; font-size: 10.0pt;">To generate high income while providing reduced downside risk through exposure to the MerQube US Large-Cap Vol Advantage Autocallable VIP Index (the “Autocallable Index”).</span> </div> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 157.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">Calamos U.S. Equity Autocallable VIP Fund – Class II</span> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 54pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">1.16%*</span> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 58.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">N/A</span> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 49.5pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">N/A</span> </td> <td style="padding: 0px 5.4pt 0px 5px; width: 54pt; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">N/A</span> </td> </tr> </table> <span style="font-family: Arial; font-size: 10.0pt;">To generate high income while providing reduced downside risk through exposure to the MerQube US Large-Cap Vol Advantage Autocallable VIP Index (the “Autocallable Index”).</span> <span style="font-family: Arial; font-size: 10.0pt;">Calamos U.S. Equity Autocallable VIP Fund – Class II</span> 0.0116 This fund is subject to an expense reimbursement or fee waiver arrangement. As a result, the fund’s annual expenses reflect temporary expense reductions <div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold; text-decoration: underline;">Appendix B – Investment Requirements:</span> </div><div> <span style="font-family: Arial; font-size: 10pt;">If you have elected a Living Benefit Rider, you may be subject to the Investment Requirements outlined in the Prospectus, according to which Living Benefit Rider you own and when you elected that Living Benefit Rider. Please refer to your Prospectus to determine if you are subject to Investment Requirements. The change outlined below is effective for August 17, 2026, and is in addition to the existing Investment Requirements in your Prospectus. All other provisions of Investment Requirements remain unchanged. </span> </div> The Calamos U.S. Equity Autocallable VIP Fund is not available under any Investment Requirements described in the Prospectus 0001048606 false