# EDGAR Filing Document

**Accession Number:** 0001170238
**File Stem:** 0001193125-26-189595
**Filing Date:** 2026-4
**Character Count:** 418311
**Document Hash:** 1b9d321b10ea81d118c598871060d4e5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-189595.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-189595

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**EFFECTIVENESS DATE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ANNUITY INVESTORS VARIABLE ACCOUNT C
- **CENTRAL INDEX KEY:** 0001170238

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21095
- **FILM NUMBER:** 26911252

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ANNUITY INVESTORS LIFE INSURANCE CO
- **STREET 2:** PO BOX 5423
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45201-5423
- **BUSINESS PHONE:** 5133573300

**MAIL ADDRESS:**
- **STREET 1:** C/O ANNUITY INVESTORS LIFE INSURANCE CO
- **STREET 2:** PO BOX 5423
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45201-5423

## Series and Classes Contracts Data

### ANNUITY INVESTORS VARIABLE ACCOUNT C (Series ID: S000010766)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000029745 | The Commodore Majesty  |  |
| C000029746 | The Commodore Helmsman |  |
| C000060714 | Transition20           |  |
| C000060874 | Flex(b)                |  |
| C000060934 | ContributorPlus        |  |
| C000061638 | Access100              |  |
| C000062308 | TotalGroup             |  |

Annuity Investors Variable Account C

Financial Statements

*Year ended December 31, 2025* 

*with Report of Independent Registered Public Accounting Firm* 

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**FINANCIAL STATEMENTS** 

**Year Ended December 31, 2025** 

**Contents** 

---

| | |
|:---|:---|
|  [Report of Independent Registered Public Accounting Firm](#cfins136874_1) | 1 |
|  Audited Financial Statements |  |
|  [Statements of Assets and Liabilities – as of December 31, 2025](#cfins136874_2) | 5 |
|  [Statements of Operations – For the Year Ended December 31, 2025](#cfins136874_3) | 13 |
|  [Statements of Changes in Net Assets – For the Year Ended December 31, 2025](#cfins136874_4) | 15 |
|  [Statements of Changes in Net Assets – For the Year Ended December 31, 2024](#cfins136874_5) | 17 |
|  [Notes to Financial Statements](#cfins136874_6) | 19 |

---

------

---

| | |
|:---|:---|
| ![LOGO](g136874page003.jpg) | <br> KPMG LLP<br> Suite 3400<br> 312 Walnut Street<br> Cincinnati, OH 45202 |

---

**Report of Independent Registered Public Accounting Firm** 

To the Board of Directors of Annuity Investors Life Insurance Company and Contract Owners of Annuity Investors Variable Account A:

*Opinion on the Financial Statements* 

We have audited the accompanying statements of assets and liabilities of the subaccounts listed in the Appendix that comprise Annuity Investors Variable Account A (the Subaccounts), as of December 31, 2025, the related statements of operations for the year then ended, 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 Subaccounts as of December 31, 2025, the results of their operations for the year then ended, and the changes in their 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 Subaccounts' 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 Subaccounts 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. 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 Subaccounts' auditor since 2021.

Columbus, Ohio

April 10, 2026

KPMG LLP, a Delaware limited liability partnership and a member firm of the

KPMG global organization of independent member firms affiliated with

KPMG International Limited, a private English company limited by guarantee.

------

**Appendix** 

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 each of the years in the two-year period then ended.

AB Variable Products Series Fund, Inc.

AB International Value Portfolio-Class B

AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

Invesco V.I. American Value Fund-Series I Shares

Invesco V.I. Comstock Fund-Series I Shares

Invesco V.I. Core Equity Fund-Series I Shares

Invesco V.I. Discovery Large Cap Fund-Series II Shares <sup>(1)</sup>

Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares

Invesco V.I. Diversified Dividend Fund-Series I Shares

Invesco V.I. Equity and Income Fund-Series II Shares

Invesco V.I. EQV International Equity Fund-Series II Shares

Invesco V.I. Global Fund-Series II Shares

Invesco V.I. Global Real Estate Fund-Series II Shares

Invesco V.I. Government Securities-Fund Series II Shares

Invesco V.I. Health Care Fund-Series I Shares

Invesco V.I. Main Street Fund®-Series II Shares

Invesco V.I. Main Street Mid Cap Fund®-Series II Shares

Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares

Invesco V.I. Small Cap Equity Fund-Series I Shares

ALPS Variable Investment Trust

Morningstar Balanced ETF Asset Allocation Portfolio-Class II

Morningstar Conservative ETF Asset Allocation Portfolio-Class II

Morningstar Growth ETF Asset Allocation Portfolio-Class II

------

Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II

BNY Mellon Investment Portfolios

MidCap Stock Portfolio-Service Shares

Technology Growth Portfolio-Initial Shares

BNY Mellon Stock Index Fund, Inc.-Service Shares

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.-Service Shares

BNY Mellon Variable Investment Fund

Appreciation Portfolio-Service Shares

Government Money Market Portfolio

Calamos® Advisors Trust

Calamos® Growth and Income Portfolio

Davis Variable Account Fund, Inc.

Davis Equity Portfolio

Deutsche DWS Variable Series II

DWS International Opportunities VIP-Class A <sup>(1)</sup>

DWS Small Mid Cap Value VIP-Class B

Franklin Templeton Variable Insurance Products Trust

Franklin Mutual Global Discovery VIP Fund-Class 2

Franklin Mutual Shares VIP Fund-Class 2

Franklin Small Cap Value VIP Fund-Class 2

Franklin U.S. Government Securities VIP Fund-Class 2

Templeton Foreign VIP Fund-Class 2

Templeton Global Bond VIP Fund-Class 2

Janus Aspen Series

Janus Henderson VIT Balanced Portfolio-Service Shares

Janus Henderson VIT Enterprise Portfolio-Service Shares

Janus Henderson VIT Global Research Portfolio-Service Shares

Janus Henderson VIT Overseas Portfolio-Service Shares

------

Janus Henderson VIT Research Portfolio-Service Shares

Lincoln Variable Insurance Products Trust

LVIP American Century Capital Appreciation Fund-Standard Class II

LVIP American Century Large Company Value Fund- Standard Class II

LVIP American Century Mid Cap Value Fund- Standard Class II

LVIP American Century Ultra<sup>®</sup> Fund- Standard Class II

Morgan Stanley Variable Insurance Fund, Inc.

Discovery Portfolio-Class I

Neuberger Berman Advisers Management Trust

Mid Cap Growth Portfolio-Class S

Quality Equity Portfolio-Class S (1)

PIMCO Variable Insurance Trust

PIMCO High Yield Portfolio-Administrative Class

PIMCO Real Return Portfolio-Administrative Class

PIMCO Total Return Portfolio-Administrative Class

Wilshire Variable Insurance Trust

Wilshire Global Allocation Fund

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

AIM Variable Insurance Funds (Invesco Variable Insurance Funds)

Invesco V.I. Conservative Balanced Fund-Series II Shares

Statement of changes in net assets for the period from January 1, 2024 to December 4, 2024 (liquidation date).

Morgan Stanley Variable Insurance Fund, Inc.

U.S. Real Estate Portfolio-Class I

Statement of changes in net assets for the period from January 1, 2024 to August 16, 2024 (liquidation date).

Rydex Variable Trust

Guggenheim Long Short Equity Fund

(1) See Note 1 to the financial statements for the former name of the subaccount.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF ASSETS AND LIABILITIES** 

**As of December 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | Shares | Cost | Fair<br>Value |
|  Assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in portfolio shares, at fair value (Note 2): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB Variable Products Series Fund, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | 37175.279 | $526775 | $773989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares | 296773.673 | 4406172 | 5386442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 281153.688 | 5064519 | 6022312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | 17628.443 | 536550 | 635153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares | 181671.212 | 8734828 | 10764019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | 77588.577 | 4954532 | 4919892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 12926.982 | 323685 | 351872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 87115.445 | 1512295 | 1578532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | 60723.416 | 2038982 | 2149002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | 152231.066 | 5535986 | 5525988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 204179.489 | 3101230 | 2817677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 41955.193 | 460345 | 442208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | 26892.000 | 735482 | 803802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund®-Series II Shares | 185318.205 | 3379782 | 3975075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund®-Series II Shares | 180884.707 | 1691536 | 1899289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund®-Series II Shares | 150588.536 | 3667933 | 4172808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | 213958.686 | 3771237 | 4292011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ALPS Variable Investment Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 858061.664 | 9166305 | 9653194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 103659.254 | 1120137 | 1120557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 1609100.053 | 18179649 | 21481486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 391717.954 | 4069691 | 4077784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Investment Portfolios: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | 14238.113 | 267655 | 287610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | 37790.935 | 811180 | 840092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares | 374313.608 | 21933471 | 32722496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | 33452.511 | 1311464 | 1910807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Variable Investment Fund: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | 27270.567 | 946567 | 892293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 4928187.702 | 4928187 | 4928188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos® Advisors Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos® Growth and Income Portfolio | 71020.852 | 1269010 | 1757766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Variable Account Fund, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio | 1381573.241 | 9040893 | 8662464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche DWS Variable Series II: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A | 12392.860 | 179965 | 238191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | 34078.452 | 426505 | 481188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Templeton Variable Insurance Products Trust : |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | 99816.091 | 1714607 | 1902495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 84383.298 | 1332555 | 1358571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | 95258.392 | 1161264 | 1321234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 71779.367 | 807326 | 753683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 237241.107 | 3045716 | 3848051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | 111939.370 | 1527104 | 1474242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Aspen Series: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 137475.817 | 5866512 | 8177062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | 90697.115 | 6319484 | 6652633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | 2461.902 | 117693 | 188139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | 191390.108 | 5783776 | 10147504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | 72229.587 | 2666759 | 4423340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lincoln Variable Insurance Products Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II | 156291.177 | 2271416 | 2369374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class | 300982.247 | 4974606 | 6153281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class | 267585.376 | 5302730 | 5189818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra® Fund-Service Class | 9866.532 | 258825 | 295631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | 341199.615 | 1403462 | 2490757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neuberger Berman Advisers Management Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | 13419.892 | 332995 | 322346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S | 56877.391 | 1668646 | 2435490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Variable Insurance Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 381275.968 | 2857356 | 2825255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 274638.005 | 3395505 | 3298402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 973653.622 | 10124180 | 9201027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Variable Insurance Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 97779.445 | 1789261 | 2015234 |

---

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

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)** 

**As of December 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | Units | Unit Value | Fair<br>Value |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net assets attributable to variable annuity contract holders (Note 2): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB Variable Products Series Fund, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.80% series contract | 1062.279 | $9.877365 | $10492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.75% series contract | 9.112 | 9.961399 | 91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.65% series contract | 9.119 | 10.142431 | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.55% series contract | 4229.070 | 10.326056 | 43670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.50% series contract | 781.193 | 10.424445 | 8144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.45% series contract | 1672.998 | 10.513066 | 17588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.25% series contract | 62294.293 | 10.897354 | 678843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.00% series contract | 1322.312 | 11.396032 | 15069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.80% series contract | 589.405 | 38.475524 | 22677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.75% series contract | 9.074 | 38.802488 | 352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.70% series contract | 154.510 | 77.547269 | 11982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.65% series contract \* | 9.080 | 39.507655 | 359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.65% series contract | 644.730 | 78.472322 | 50593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.55% series contract | 2493.474 | 40.222925 | 100295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.50% series contract | 1583.306 | 40.606040 | 64292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.45% series contract | 575.029 | 40.951108 | 23548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.40% series contract | 30290.921 | 83.268186 | 2522270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.25% series contract | 59806.025 | 42.447496 | 2538616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.00% series contract | 1159.238 | 44.389136 | 51458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 2.00% series contract | 3159.764 | 34.423807 | 108771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.95% series contract | 418.541 | 34.683134 | 14516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.75% series contract | 2358.736 | 35.736266 | 84292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.70% series contract | 243.979 | 36.005490 | 8785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.65% series contract | 2268.409 | 36.274732 | 82286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.55% series contract | 1063.350 | 36.819371 | 39152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.50% series contract | 1463.654 | 37.094802 | 54294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.40% series contract | 84629.591 | 37.651761 | 3186453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.25% series contract | 62779.714 | 38.502800 | 2417195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.00% series contract | 664.857 | 39.960001 | 26568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.80% series contract | 718.000 | 36.843607 | 26454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.65% series contract | 183.478 | 37.967453 | 6966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.40% series contract | 15076.313 | 39.912468 | 601733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 2.00% series contract | 862.649 | 39.928343 | 34445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.80% series contract | 1810.341 | 41.395007 | 74939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.75% series contract | 9.046 | 41.746770 | 378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.70% series contract | 76.530 | 64.529935 | 4938 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.65% series contract \* | 2987.480 | 42.505223 | 126983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.65% series contract | 106.681 | 65.299515 | 6966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.55% series contract | 8298.427 | 43.274760 | 359112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.50% series contract | 2364.258 | 43.686812 | 103287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.45% series contract | 2647.404 | 44.057931 | 116639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.40% series contract | 22531.907 | 69.290237 | 1561241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.25% series contract | 178176.128 | 45.667761 | 8136905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.00% series contract | 4987.513 | 47.756419 | 238186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 2.00% series contract | 1479.731 | 15.515289 | 22961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.80% series contract | 3183.129 | 15.696043 | 49962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.75% series contract | 16.485 | 15.741312 | 259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.70% series contract | 400.104 | 15.787031 | 6316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.65% series contract | 1220.518 | 15.832587 | 19324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.55% series contract | 9364.682 | 15.924014 | 149123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.50% series contract | 3795.188 | 15.969962 | 60609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.45% series contract | 3909.647 | 16.016019 | 62617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.40% series contract | 66201.281 | 16.062225 | 1063340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.25% series contract | 209565.564 | 16.201618 | 3395301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.00% series contract | 5480.703 | 16.435923 | 90080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.70% series contract | 135.416 | 30.973346 | 4194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.65% series contract | 194.931 | 31.204951 | 6083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.40% series contract | 10546.495 | 32.389472 | 341595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.75% series contract | 11.609 | 11.734795 | 135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.70% series contract | 21.610 | 12.392767 | 268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.65% series contract\*\*\* | 6206.549 | 12.422201 | 77099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.65% series contract | 256.196 | 11.754944 | 3012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.55% series contract | 12.528 | 11.775048 | 148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.40% series contract | 112145.706 | 12.570458 | 1409723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.25% series contract | 7434.757 | 11.835568 | 87995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.00% series contract | 12.806 | 11.886085 | 152 |

---

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

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)** 

**As of December 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | Units | Unit Value | Fair<br>Value |
|  Net assets attributable to variable annuity contract holders (Note 2) (continued): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.75% series contract | 14.390 | $15.488265 | $224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.65% series contract | 1136.416 | 15.769765 | 17921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.55% series contract | 9.559 | 16.055331 | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.50% series contract | 670.636 | 16.208238 | 10870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.25% series contract | 123946.128 | 16.943404 | 2100069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.00% series contract | 1115.510 | 17.718573 | 19765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.80% series contract | 35.190 | 30.332982 | 1067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.75% series contract | 9.088 | 30.590817 | 278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.70% series contract | 53.749 | 60.412904 | 3247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.65% series contract \* | 9.097 | 31.146668 | 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.65% series contract | 21.348 | 61.133557 | 1305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.55% series contract | 1826.787 | 31.710604 | 57929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.50% series contract | 3370.049 | 32.012763 | 107885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.40% series contract | 20544.401 | 64.869979 | 1332715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.25% series contract | 116832.040 | 33.464466 | 3909722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.00% series contract | 3187.748 | 34.995519 | 111557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 2.00% series contract | 649.454 | 10.081950 | 6547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.80% series contract | 1005.891 | 10.452450 | 10514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.75% series contract | 9.093 | 10.541239 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.65% series contract | 1871.518 | 10.732866 | 20087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.55% series contract | 9590.132 | 10.927192 | 104793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.50% series contract | 5335.500 | 11.031341 | 58858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.45% series contract | 1196.169 | 11.125170 | 13308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.25% series contract | 219026.949 | 11.531737 | 2525761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.00% series contract | 6444.158 | 12.059434 | 77713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.70% series contract | 339.144 | 11.906042 | 4038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.65% series contract | 5099.136 | 12.048060 | 61435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.40% series contract | 29468.362 | 12.784398 | 376735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares - 1.70% series contract | 101.559 | 43.586522 | 4427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares - 1.40% series contract | 17079.847 | 46.802253 | 799375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 9.085 | 39.095945 | 354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.65% series contract \* | 609.508 | 39.806455 | 24262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.65% series contract | 1329.863 | 46.318771 | 61598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 9.490 | 40.526985 | 385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 33928.302 | 48.865163 | 1657912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 51623.165 | 42.768156 | 2207828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 508.364 | 44.724279 | 22736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 2.00% series contract | 2111.728 | 23.718650 | 50087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.95% series contract | 395.515 | 23.921677 | 9461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 1605.337 | 24.798983 | 39811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract | 9.067 | 25.249736 | 229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 2606.824 | 25.706887 | 67013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.50% series contract | 1623.655 | 25.951813 | 42137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 9305.859 | 44.749858 | 416436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 46731.071 | 27.128808 | 1267758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 224.076 | 28.369841 | 6357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 9.024 | 36.754567 | 330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.70% series contract | 196.311 | 64.503900 | 12663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract \* | 97.503 | 37.422409 | 3649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract | 413.474 | 65.273367 | 26989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 419.223 | 38.099936 | 15972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.50% series contract | 920.182 | 38.462889 | 35393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 35152.813 | 69.262665 | 2434778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 40744.868 | 40.207192 | 1638237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 114.077 | 42.046459 | 4797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 2.00% series contract | 528.188 | 29.270356 | 15459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.80% series contract | 24.623 | 30.345843 | 747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.75% series contract | 11.734 | 30.603600 | 359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.70% series contract | 94.087 | 28.576018 | 2689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.65% series contract \* | 2064.051 | 31.159846 | 64316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.65% series contract | 39.952 | 28.848402 | 1153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.55% series contract | 3090.000 | 31.724101 | 98027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.50% series contract | 2784.819 | 32.026226 | 89187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.45% series contract | 1012.646 | 32.298492 | 32707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.40% series contract | 20968.776 | 30.249588 | 634297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.25% series contract | 96968.632 | 33.478649 | 3246379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.00% series contract | 3047.412 | 35.010284 | 106691 |

---

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

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)** 

**As of December 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | Units | Unit Value | Fair<br>Value |
|  Net assets attributable to variable annuity contract holders (Note 2) (continued): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ALPS Variable Investment Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 2.00% series contract | 1971.902 | $18.205387 | $35899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.80% series contract | 717.148 | 18.874174 | 13536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 153.273 | 19.034586 | 2917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.70% series contract | 20.656 | 18.955455 | 392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 18703.517 | 19.380423 | 362482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 97.959 | 19.136032 | 1875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 42042.252 | 19.731313 | 829549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 2626.784 | 20.088580 | 52768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 45046.706 | 20.064806 | 903853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 331107.516 | 20.822542 | 6894500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 25507.408 | 21.774956 | 555423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 5799.335 | 12.535011 | 72696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 400.156 | 12.762754 | 5107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 6.701 | 13.179222 | 88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 8050.758 | 12.993878 | 104611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 7767.719 | 13.229070 | 102760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 4130.771 | 13.819043 | 57083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 56721.321 | 13.712453 | 777788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 29.584 | 14.339703 | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 9.093 | 22.438044 | 205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.70% series contract | 15.737 | 21.855056 | 344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 30328.389 | 22.845720 | 692874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 11.529 | 22.063196 | 254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 59811.868 | 23.259365 | 1391186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.50% series contract | 11207.686 | 23.480882 | 263166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 20295.215 | 23.680380 | 480598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 15393.557 | 23.134172 | 356117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 744854.123 | 24.545513 | 18282827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 542.111 | 25.668425 | 13915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 2.00% series contract | 1974.140 | 14.911990 | 29438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 5312.677 | 15.591151 | 82831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 26911.795 | 15.874436 | 427210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 6.697 | 15.970890 | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 7400.071 | 16.161905 | 119599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.50% series contract | 1436.102 | 16.315840 | 23431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 18991.021 | 16.454524 | 312488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 5786.690 | 16.746146 | 96905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 175050.522 | 17.055737 | 2985616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 8.930 | 17.835867 | 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Investment Portfolios: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.75% series contract | 9.054 | 30.399014 | 276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.65% series contract \* | 9.061 | 30.951501 | 280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.65% series contract | 10.499 | 27.938976 | 293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.55% series contract | 9.460 | 31.511886 | 298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.50% series contract | 676.942 | 31.812185 | 21535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.40% series contract | 589.076 | 29.295483 | 17257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.25% series contract | 7112.920 | 33.254783 | 236539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.00% series contract | 320.099 | 34.776054 | 11132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.70% series contract | 8.143 | 83.664741 | 680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.65% series contract | 27.962 | 84.565292 | 2365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.40% series contract | 9382.425 | 89.214309 | 837047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 2.00% series contract | 3873.344 | 44.570096 | 172636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.95% series contract | 671.727 | 44.951406 | 30195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.80% series contract \*\* | 1410.987 | 46.207145 | 65198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.80% series contract | 535.946 | 68.345231 | 36629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.75% series contract | 4589.340 | 46.599845 | 213863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.70% series contract | 101.720 | 69.991928 | 7120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.65% series contract \* | 2029.598 | 47.446443 | 96297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.65% series contract | 1937.133 | 70.826577 | 137200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.55% series contract | 10005.157 | 48.305306 | 483302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.50% series contract | 5753.991 | 48.765396 | 280596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.45% series contract | 13202.421 | 49.179764 | 649292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.40% series contract | 207264.080 | 75.154808 | 15576892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.25% series contract | 283524.042 | 50.976433 | 14453044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.00% series contract | 9759.027 | 53.307812 | 520232 |

---

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

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)** 

**As of December 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | Units | Unit Value | Fair<br>Value |
|  Net assets attributable to variable annuity contract holders (Note 2) (continued): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Investment Portfolios: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.80% series contract | 338.147 | $44.087255 | $14907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.75% series contract | 9.036 | 44.461904 | 402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.70% series contract | 142.371 | 58.352320 | 8308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.65% series contract | 9.041 | 45.269798 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.55% series contract | 39.080 | 46.089210 | 1801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.40% series contract | 14689.673 | 62.657020 | 920411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.25% series contract | 18867.118 | 48.637898 | 917657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.00% series contract | 922.322 | 50.862462 | 46912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BNY Mellon Variable Investment Fund: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.80% series contract | 577.041 | 50.466877 | 29122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.70% series contract | 286.754 | 51.682685 | 14820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.65% series contract | 675.077 | 52.299252 | 35306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.40% series contract | 14650.769 | 55.495054 | 813045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 2.00% series contract | 23700.497 | 0.837093 | 19839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.80% series contract | 91.664 | 0.871455 | 80 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.75% series contract | 33470.042 | 0.881851 | 29516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.70% series contract | 50807.359 | 0.941403 | 47830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.65% series contract \* | 15946.626 | 0.896811 | 14301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.65% series contract | 73102.582 | 0.951388 | 69549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.55% series contract | 310137.431 | 0.916010 | 284089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.50% series contract | 15266.698 | 0.927337 | 14157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.45% series contract | 399.866 | 0.934450 | 374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.40% series contract | 2936830.577 | 1.011111 | 2969462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.25% series contract | 1476028.268 | 0.972089 | 1434831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.00% series contract | 43594.097 | 1.012983 | 44160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Advisors Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.75% series contract | 18.736 | 33.507650 | 628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.65% series contract \* | 291.534 | 34.116412 | 9946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.65% series contract | 936.376 | 33.146049 | 31037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.55% series contract | 1777.911 | 34.733994 | 61754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.50% series contract | 1834.755 | 35.064758 | 64335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.40% series contract | 6275.746 | 34.754884 | 218113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.25% series contract | 37412.642 | 36.654678 | 1371348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.00% series contract | 15.774 | 38.331157 | 605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Variable Account Fund, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.80% series contract | 1861.396 | 33.640794 | 62620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.75% series contract | 9.019 | 33.926681 | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.65% series contract \* | 204.362 | 34.543223 | 7059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.65% series contract | 557.427 | 32.921673 | 18351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.55% series contract | 7810.257 | 35.168608 | 274676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.50% series contract | 3686.065 | 35.503489 | 130868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.45% series contract | 4207.680 | 35.805161 | 150657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.40% series contract | 11373.295 | 34.519655 | 392602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.25% series contract | 198471.212 | 37.113526 | 7365966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.00% series contract | 6682.606 | 38.811108 | 259359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche DWS Variable Series II: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 2.00% series contract | 26.676 | 15.380491 | 410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.75% series contract | 9.113 | 16.081138 | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.65% series contract | 9.119 | 16.373442 | 149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.55% series contract | 9.521 | 16.669939 | 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.25% series contract | 13481.183 | 17.592079 | 237162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.00% series contract | 8.901 | 18.396930 | 164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.75% series contract | 9.148 | 24.509586 | 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.65% series contract | 9.154 | 24.904173 | 228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.55% series contract | 903.952 | 25.303626 | 22873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.50% series contract | 605.491 | 25.505800 | 15444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.25% series contract | 16522.695 | 26.541035 | 438529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.00% series contract | 140.849 | 27.615049 | 3890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Templeton Variable Insurance Products Trust : |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.75% series contract | 9.203 | 32.440070 | 299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.65% series contract | 1832.425 | 32.995902 | 60463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.55% series contract | 249.929 | 33.559172 | 8387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.50% series contract | 929.163 | 33.844335 | 31447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.25% series contract | 50326.253 | 35.307223 | 1776880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.00% series contract | 679.341 | 36.828770 | 25019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.75% series contract | 9.085 | 20.966606 | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.65% series contract | 309.718 | 21.347603 | 6612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.55% series contract | 2743.406 | 21.734068 | 59625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.50% series contract | 411.894 | 21.941149 | 9037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.25% series contract | 55874.482 | 22.936194 | 1281548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.00% series contract | 64.957 | 23.985334 | 1558 |

---

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

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)** 

**As of December 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | Units | Unit Value | Fair<br>Value |
|  Net assets attributable to variable annuity contract holders (Note 2) (continued): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Templeton Variable Insurance Products Trust : |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 2.00% series contract | 1090.910 | $42.696040 | $46579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.95% series contract | 176.687 | 43.061567 | 7608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.75% series contract | 1253.349 | 44.549704 | 55836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.65% series contract | 239.476 | 45.312921 | 10851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.55% series contract | 1546.538 | 46.086361 | 71274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.50% series contract | 787.527 | 46.478064 | 36603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.25% series contract | 22279.622 | 48.486883 | 1080269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.00% series contract | 241.496 | 50.576400 | 12214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 2.00% series contract | 5122.656 | 9.782683 | 50113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.95% series contract | 417.361 | 9.866446 | 4118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.80% series contract | 342.664 | 10.142051 | 3475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.75% series contract | 7996.741 | 10.228223 | 81792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.65% series contract | 9.178 | 10.414114 | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.55% series contract | 2354.369 | 10.602662 | 24963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.50% series contract | 573.173 | 10.703619 | 6135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.45% series contract | 65.239 | 10.794620 | 704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.25% series contract | 49462.648 | 11.189028 | 553439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.00% series contract | 2465.471 | 11.700836 | 28848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 2.00% series contract | 8078.949 | 12.222554 | 98745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.95% series contract | 1316.758 | 12.327186 | 16232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.80% series contract | 58.967 | 12.671674 | 747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.75% series contract | 5740.325 | 12.779371 | 73358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.70% series contract | 6.713 | 13.090184 | 88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.65% series contract \* | 5196.931 | 13.011635 | 67621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.65% series contract | 273.694 | 13.214897 | 3617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.55% series contract | 8744.615 | 13.247223 | 115842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.50% series contract | 8203.326 | 13.373469 | 109707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.40% series contract | 27985.447 | 13.856499 | 387780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.25% series contract | 206859.943 | 13.980006 | 2891903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.00% series contract | 5637.017 | 14.619558 | 82411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 2.00% series contract | 692.413 | 10.317384 | 7143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.80% series contract | 314.844 | 10.674658 | 3361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.75% series contract | 1165.101 | 10.765406 | 12543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.65% series contract | 2316.401 | 10.949869 | 25364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.55% series contract | 1498.433 | 11.136816 | 16688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.50% series contract | 784.485 | 11.231527 | 8811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.25% series contract | 117590.804 | 11.717052 | 1377818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.00% series contract | 1842.039 | 12.222113 | 22514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Aspen Series: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.80% series contract \*\* | 23.670 | 31.567367 | 749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.80% series contract | 549.012 | 45.859365 | 25177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.75% series contract | 2815.887 | 31.835593 | 89645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.70% series contract | 4237.548 | 46.964178 | 199013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.65% series contract \* | 9.142 | 32.414056 | 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.65% series contract | 1257.652 | 47.524454 | 59769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.55% series contract | 4776.371 | 33.000834 | 157624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.50% series contract | 2284.098 | 33.315123 | 76095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.45% series contract | 50.046 | 33.598246 | 1681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.40% series contract | 43653.272 | 50.428566 | 2201372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.25% series contract | 151178.647 | 34.825527 | 5264876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.00% series contract | 2766.859 | 36.418399 | 100765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 2.00% series contract | 625.935 | 41.225683 | 25805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.80% series contract | 24.974 | 42.740104 | 1067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.75% series contract | 9.020 | 43.103327 | 389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.65% series contract \* | 3048.060 | 43.886636 | 133769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.65% series contract | 48.928 | 97.064760 | 4749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.55% series contract | 4185.073 | 44.681127 | 186994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.50% series contract | 3272.581 | 45.106840 | 147616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.40% series contract | 12102.803 | 102.996897 | 1246551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.25% series contract | 96563.451 | 47.152181 | 4553177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.00% series contract | 7149.104 | 49.309169 | 352516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares - 1.70% series contract | 57.737 | 43.901717 | 2535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares - 1.40% series contract | 3937.195 | 47.141114 | 185604 |

---

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

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)** 

**As of December 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | Units | Unit Value | Fair<br>Value |
|  Net assets attributable to variable annuity contract holders (Note 2) (continued): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Aspen Series: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 2.00% series contract | 11302.544 | $12.212520 | $138033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.95% series contract | 1977.174 | 12.317047 | 24353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.80% series contract | 2688.443 | 12.661342 | 34039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.75% series contract | 39094.802 | 12.769006 | 499202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.70% series contract | 1.358 | 31.929056 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.65% series contract \* | 112.452 | 13.001098 | 1462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.65% series contract | 400.347 | 32.272695 | 12920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.55% series contract | 22139.355 | 13.236561 | 293049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.50% series contract | 10483.178 | 13.362704 | 140084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.45% series contract | 6372.143 | 13.476344 | 85873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.40% series contract | 63596.707 | 34.047525 | 2165310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.25% series contract | 474775.785 | 13.968875 | 6632084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.00% series contract | 8286.609 | 14.608108 | 121052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 2.00% series contract | 1684.256 | 50.860180 | 85661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.95% series contract | 372.059 | 51.295435 | 19085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.75% series contract | 1383.718 | 53.176309 | 73581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.65% series contract \* | 972.677 | 54.142288 | 52663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.55% series contract | 265.529 | 55.122531 | 14637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.50% series contract | 530.237 | 55.647530 | 29506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.40% series contract | 16526.996 | 85.454418 | 1412305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.25% series contract | 46981.338 | 58.170555 | 2732931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.00% series contract | 48.842 | 60.831042 | 2971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lincoln Variable Insurance Products Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.75% series contract | 9.849 | 26.762641 | 264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.70% series contract | 347.400 | 26.923122 | 9353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.65% series contract | 902.470 | 27.083360 | 24442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.55% series contract | 401.931 | 27.406685 | 11016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.50% series contract | 495.079 | 27.569853 | 13649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.40% series contract | 45652.293 | 27.898981 | 1273652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.25% series contract | 36329.691 | 28.400108 | 1031767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.00% series contract | 178.821 | 29.252881 | 5231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 2.00% series contract | 965.454 | 25.009464 | 24145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.80% series contract | 32.933 | 25.928126 | 854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.75% series contract | 9.023 | 26.148526 | 236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.65% series contract \* | 3175.548 | 26.623625 | 84545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.65% series contract | 365.665 | 30.817148 | 11269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.50% series contract | 3467.052 | 27.363859 | 94872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.40% series contract | 18127.040 | 32.511527 | 589338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.55% series contract | 7695.100 | 27.105672 | 208581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.25% series contract | 173707.253 | 28.604668 | 4968838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.00% series contract | 5703.283 | 29.913194 | 170603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 2.00% series contract | 392.716 | 33.570850 | 13182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.80% series contract | 27.602 | 34.804024 | 961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.75% series contract | 8.995 | 35.099758 | 316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.65% series contract \* | 2729.847 | 35.737556 | 97558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.65% series contract | 356.229 | 44.829653 | 15970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.55% series contract | 4598.761 | 36.384633 | 167324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.50% series contract | 3430.995 | 36.731089 | 126024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.40% series contract | 10549.993 | 47.294320 | 498955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.25% series contract | 107502.766 | 38.396608 | 4127742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.00% series contract | 3531.139 | 40.152986 | 141786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra® Fund-Service Class - 1.65% series contract | 55.117 | 69.632787 | 3838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra® Fund-Service Class - 1.40% series contract | 3972.110 | 73.460451 | 291793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.80% series contract | 294.327 | 42.435065 | 12490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.75% series contract | 10.906 | 42.795742 | 467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.70% series contract | 0.812 | 45.826066 | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.65% series contract \* | 9.036 | 43.573575 | 394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.65% series contract | 302.563 | 46.262677 | 13997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.55% series contract | 1912.950 | 44.362430 | 84863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.50% series contract | 2206.312 | 44.785156 | 98810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.45% series contract | 201.346 | 45.165812 | 9094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.40% series contract | 2765.387 | 48.508651 | 134145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.25% series contract | 43690.744 | 46.816160 | 2045433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.00% series contract | 1859.289 | 48.958075 | 91027 |

---

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

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF ASSETS AND LIABILITIES (CONTINUED)** 

**As of December 31, 2025** 

---

| | | | |
|:---|:---|:---|:---|
|  | Units | Unit Value | Fair<br>Value |
|  Net assets attributable to variable annuity contract holders (Note 2) (continued): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Neuberger Berman Advisers Management Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S - 1.70% series contract | 613.929 | $22.553025 | $13846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S - 1.40% series contract | 13261.536 | 23.262756 | 308500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.75% series contract | 1759.624 | 20.923198 | 36818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.70% series contract | 155.308 | 20.994749 | 3261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.65% series contract | 17.669 | 21.065991 | 372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.55% series contract | 231.195 | 21.209236 | 4903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.40% series contract | 56466.677 | 21.425936 | 1209851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.25% series contract | 54510.884 | 21.644797 | 1179877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.00% series contract | 18.547 | 22.013539 | 408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Variable Insurance Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 2.00% series contract | 373.931 | 18.525702 | 6928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.80% series contract | 330.953 | 19.206206 | 6356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.75% series contract | 9.176 | 19.369432 | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.70% series contract | 189.458 | 31.356331 | 5941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.65% series contract \* | 2266.713 | 19.721288 | 44702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.65% series contract | 45.948 | 31.730379 | 1458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.55% series contract | 4919.824 | 20.078415 | 98782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.50% series contract | 3198.884 | 20.269532 | 64840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.40% series contract | 13294.078 | 33.669515 | 447605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.25% series contract | 92481.100 | 21.188694 | 1959554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.00% series contract | 8525.698 | 22.157869 | 188911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 2.00% series contract | 584.845 | 12.255069 | 7166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.80% series contract | 25.483 | 12.705207 | 324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.75% series contract | 3473.893 | 12.813200 | 44512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.70% series contract | 250.144 | 17.532705 | 4386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.65% series contract \* | 1591.604 | 13.046069 | 20764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.65% series contract | 5693.570 | 17.741867 | 101015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.55% series contract | 13756.226 | 13.282217 | 182713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.50% series contract | 2492.976 | 13.408726 | 33428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.45% series contract | 1168.448 | 13.522721 | 15801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.40% series contract | 35749.514 | 18.826186 | 673027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.25% series contract | 151468.151 | 14.016791 | 2123097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.00% series contract | 6288.022 | 14.657913 | 92169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 2.00% series contract | 11465.850 | 12.856604 | 147412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.95% series contract | 1162.372 | 12.966688 | 15072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.80% series contract | 808.566 | 13.328878 | 10777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.75% series contract | 9488.948 | 13.442189 | 127552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.70% series contract | 314.456 | 17.117979 | 5383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.65% series contract \* | 10514.043 | 13.686423 | 143900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.65% series contract | 3245.468 | 17.322233 | 56219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.55% series contract | 24377.232 | 13.934209 | 339677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.50% series contract | 9127.214 | 14.066942 | 128392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.45% series contract | 3666.683 | 14.186525 | 52017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.40% series contract | 58907.055 | 18.380900 | 1082765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.25% series contract | 468472.318 | 14.704768 | 6888777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.00% series contract | 13206.604 | 15.377432 | 203084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Variable Insurance Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.75% series contract | 3188.041 | 15.450507 | 49256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.70% series contract | 11.021 | 15.506546 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.65% series contract | 459.250 | 15.562368 | 7147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.55% series contract | 7020.636 | 15.674587 | 110046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.50% series contract | 4.691 | 15.731028 | 74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.40% series contract | 62157.517 | 15.844439 | 984851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.25% series contract | 45565.982 | 16.016155 | 729792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.00% series contract | 8211.718 | 16.305632 | 133897 |

---

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

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF OPERATIONS** 

**For the Year Ended December 31, 2025** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Dividends from<br>Investments in<br>Portfolio Shares | Mortality and<br>Expense Risk<br>Fee (Note 3) | Net<br>Investment<br>Income (Loss) | Net Realized<br>Gain (Loss) on<br>Sale of<br>Investments in<br>Portfolio Shares | Realized<br>Gain<br>Distributions | Net Change in<br>Unrealized<br>Appreciation<br>(Depreciation)<br>of Investments in<br>Portfolio Shares | Net Gain (Loss)<br>on Investments in<br>Portfolio Shares | Net Increase<br>(Decrease)<br>in Net Assets<br>from Operations |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | $16159 | $9102 | $7057 | $19342 | $0 | $204160 | $223502 | $230559 |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund | 23395 | 69088 | (45693) | 20826 | 780616 | 157098 | 958540 | 912847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 97092 | 80378 | 16714 | 186217 | 612201 | 32589 | 831007 | 847721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | 4150 | 8999 | (4849) | 1722 | 47770 | 42151 | 91643 | 86794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares | 0 | 135634 | (135634) | 172579 | 1331820 | (268186) | 1236213 | 1100579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | 0 | 65079 | (65079) | (5422) | 480456 | (264630) | 210404 | 145325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 5380 | 4782 | 598 | 487 | 25724 | 16888 | 43099 | 43697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 29143 | 22041 | 7102 | (35872) | 83615 | 101566 | 149309 | 156411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | 25312 | 26571 | (1259) | (9118) | 138124 | 158966 | 287972 | 286713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | 0 | 69314 | (69314) | (112541) | 1020393 | (164173) | 743679 | 674365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 49853 | 36189 | 13664 | (59414) | 0 | 217213 | 157799 | 171463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 12631 | 6271 | 6360 | (2534) | 0 | 19208 | 16674 | 23034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | 0 | 11447 | (11447) | 8237 | 33893 | 75071 | 117201 | 105754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | 12458 | 53179 | (40721) | (271337) | 249965 | 569931 | 548559 | 507838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | 2012 | 26223 | (24211) | 29880 | 192640 | (68794) | 153726 | 129515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | 9500 | 57646 | (48146) | 103643 | 422399 | (217486) | 308556 | 260410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | 0 | 55487 | (55487) | 4620 | 183901 | 144659 | 333180 | 277693 |
|  ALPS Variable Investment Trust: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 175276 | 124406 | 50870 | 52520 | 991155 | 96175 | 1139850 | 1190720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 29321 | 17239 | 12082 | (900) | 0 | 79603 | 78703 | 90785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 297061 | 269960 | 27101 | 421697 | 1491691 | 1228212 | 3141600 | 3168701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 89507 | 53190 | 36317 | 2641 | 314426 | 29347 | 346414 | 382731 |
|  BNY Mellon Investment Portfolios: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | 1163 | 3478 | (2315) | 1712 | 24003 | (1207) | 24508 | 22193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | 0 | 11558 | (11558) | (3537) | 367997 | (155156) | 209304 | 197746 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | 244942 | 428846 | (183904) | 2182151 | 1817629 | 810142 | 4809922 | 4626018 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | 1023 | 23612 | (22589) | 39712 | 147084 | 71435 | 258231 | 235642 |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | 1410 | 12403 | (10993) | (7087) | 131799 | (44645) | 80067 | 69074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 198082 | 68504 | 129578 | 0 | 0 | 0 | 0 | 129578 |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio | 5290 | 22271 | (16981) | 84150 | 146979 | 41480 | 272609 | 255628 |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio | 82359 | 102339 | (19980) | (413610) | 1247156 | 1022066 | 1855612 | 1835632 |
|  Deutsche DWS Variable Series II: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A | 2118 | 2904 | (786) | 5409 | 0 | 31632 | 37041 | 36255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | 2385 | 5412 | (3027) | (10926) | 46989 | 32818 | 68881 | 65854 |

---

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

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF OPERATIONS (CONTINUED)** 

**For the Year Ended December 31, 2025** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Dividends from<br>Investments in<br>Portfolio Shares | Mortality and<br>Expense Risk<br>Fee (Note 3) | Net<br>Investment<br>Income (Loss) | Net Realized<br>Gain (Loss) on<br>Sale of<br>Investments in<br>Portfolio Shares | Realized<br>Gain<br>Distributions | Net Change in<br>Unrealized<br>Appreciation<br>(Depreciation)<br>of Investments in<br>Portfolio Shares | Net<br>Gain (Loss)<br>on Investments in<br>Portfolio Shares | Net Increase<br>(Decrease)<br>in Net Assets<br>from Operations |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | $33540 | $22332 | $11208 | $(6330) | $185913 | $151223 | $330806 | $342014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 26894 | 17059 | 9835 | (44784) | 132508 | 28117 | 115841 | 125676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | 13774 | 16956 | (3182) | 25609 | 107426 | (52153) | 80882 | 77700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 26131 | 10668 | 15463 | (23402) | 0 | 47655 | 24253 | 39716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 86539 | 48665 | 37874 | 21190 | 241637 | 592638 | 855465 | 893339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | 0 | 19547 | (19547) | (74615) | 0 | 299291 | 224676 | 205129 |
|  Janus Aspen Series: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 132690 | 104758 | 27932 | 464234 | 239106 | 260022 | 963362 | 991294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | 3238 | 86837 | (83599) | 30657 | 576944 | (143116) | 464485 | 380886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | 776 | 2537 | (1761) | 13059 | 16924 | 2702 | 32685 | 30924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | 125887 | 127038 | (1151) | 587019 | 0 | 1661847 | 2248866 | 2247715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | 0 | 63902 | (63902) | 377796 | 385592 | 31749 | 795137 | 731235 |
|  Lincoln Variable Insurance Products Trust: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II | 0 | 33288 | (33288) | 51550 | 390145 | (277154) | 164541 | 131253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class | 78552 | 78620 | (68) | 218897 | 385213 | 178590 | 782700 | 782632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class | 84143 | 67182 | 16961 | (34997) | 422557 | (34892) | 352668 | 369629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class | 0 | 4682 | (4682) | 21708 | 29180 | (11962) | 38926 | 34244 |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | 12041 | 35657 | (23616) | (563908) | 0 | 912525 | 348617 | 325001 |
|  Neuberger Berman Advisers Management Trust: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | 0 | 4914 | (4914) | 6870 | 50211 | (38473) | 18608 | 13694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S | 0 | 32400 | (32400) | 148652 | 138103 | 13406 | 300161 | 267761 |
|  PIMCO Variable Insurance Trust: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 177825 | 36676 | 141149 | (27389) | 0 | 91682 | 64293 | 205442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 114595 | 45804 | 68791 | (16764) | 0 | 166635 | 149871 | 218662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 388201 | 124389 | 263812 | (256142) | 0 | 680563 | 424421 | 688233 |
|  Wilshire Variable Insurance Trust: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 60032 | 26591 | 33441 | 22987 | 58641 | 178682 | 260310 | 293751 |

---

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

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

**For the Year Ended December 31, 2025** 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Principal Transactions | Changes From Principal Transactions | Changes From Principal Transactions | Changes From Principal Transactions | | | |
|  | Net<br>Investment<br>Income (Loss) | Net Realized<br>Gain (Loss)<br>on Sale of<br>Investments in<br>Portfolio Shares | Realized<br>Gain<br>Distributions | Net Change<br>in Unrealized<br>Appreciation<br>(Depreciation)<br>of Investments in<br>Portfolio Shares | Net<br>Increase<br>(Decrease)<br>in Net<br>Assets from<br>Operations | Contract<br>Purchase<br>Payments | Contract<br>Redemptions | Net Transfers<br>To (From)<br>Subaccounts<br>and Fixed<br>Accounts | Net Increase<br>(Decrease) in<br>Net Assets<br>From Principal<br>Transactions |<br>Net<br>Increase<br>(Decrease)<br>in Net Assets |<br>Net Assets<br>Beginning<br>of Period |<br>Net Assets<br>End<br>of Period |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | $7057 $| 19342 | $0 | $204160 | $230559 | $21309 | $83479 | $(10528) | $(72698) | $157861 | $616128 | $773989 |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund | (45693) | 20826 | 780616 | 157098 | 912847 | 91714 | 811772 | (44588) | (764646) | 148201 | 5238241 | 5386442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 16714 | 186217 | 612201 | 32589 | 847721 | 84941 | 661096 | (146142) | (722297) | 125424 | 5896888 | 6022312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | (4849) | 1722 | 47770 | 42151 | 86794 | 5116 | 96998 | (548) | (92430) | (5636) | 640789 | 635153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares | (135634) | 172579 | 1331820 | (268186) | 1100579 | 191455 | 1007631 | 19909 | (796267) | 304312 | 10459707 | 10764019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | (65079) | (5422) | 480456 | (264630) | 145325 | 85115 | 479982 | 19138 | (375729) | (230404) | 5150296 | 4919892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 598 | 487 | 25724 | 16888 | 43697 | 5312 | 33685 | (4221) | (32594) | 11103 | 340769 | 351872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 7102 | (35872) | 83615 | 101566 | 156411 | 28273 | 224544 | 3055 | (193216) | (36805) | 1615337 | 1578532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | (1259) | (9118) | 138124 | 158966 | 286713 | 65291 | 234805 | 97838 | (71676) | 215037 | 1933965 | 2149002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | (69314) | (112541) | 1020393 | (164173) | 674365 | 127390 | 584568 | (36070) | (493248) | 181117 | 5344871 | 5525988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 13664 | (59414) | 0 | 217213 | 171463 | 140002 | 308373 | (10132) | (178503) | (7040) | 2824717 | 2817677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 6360 | (2534) | 0 | 19208 | 23034 | 4260 | 33501 | 21881 | (7360) | 15674 | 426534 | 442208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | (11447) | 8237 | 33893 | 75071 | 105754 | 12632 | 108441 | 3783 | (92026) | 13728 | 790074 | 803802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | (40721) | (271337) | 249965 | 569931 | 507838 | 46254 | 574950 | (126322) | (655018) | (147180) | 4122255 | 3975075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | (24211) | 29880 | 192640 | (68794) | 129515 | 28936 | 281314 | (66756) | (319134) | (189619) | 2088908 | 1899289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | (48146) | 103643 | 422399 | (217486) | 260410 | 83665 | 694983 | (125697) | (737015) | (476605) | 4649413 | 4172808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | (55487) | 4620 | 183901 | 144659 | 277693 | 119457 | 461080 | (4866) | (346489) | (68796) | 4360807 | 4292011 |
|  ALPS Variable Investment Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 50870 | 52520 | 991155 | 96175 | 1190720 | 256321 | 1391637 | 10190 | (1125126) | 65594 | 9587600 | 9653194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 12082 | (900) | 0 | 79603 | 90785 | 29616 | 455495 | 24543 | (401336) | (310551) | 1431108 | 1120557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 27101 | 421697 | 1491691 | 1228212 | 3168701 | 502327 | 2234800 | 3809 | (1728664) | 1440037 | 20041449 | 21481486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 36317 | 2641 | 314426 | 29347 | 382731 | 61463 | 304911 | 283 | (243165) | 139566 | 3938218 | 4077784 |
|  BNY Mellon Investment Portfolios: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | (2315) | 1712 | 24003 | (1207) | 22193 | 6484 | 15988 | 11601 | 2097 | 24290 | 263320 | 287610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | (11558) | (3537) | 367997 | (155156) | 197746 | 5058 | 134801 | (2238) | (131981) | 65765 | 774327 | 840092 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | (183904) | 2182151 | 1817629 | 810142 | 4626018 | 408556 | 4486351 | 133744 | (3944051) | 681967 | 32040529 | 32722496 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | (22589) | 39712 | 147084 | 71435 | 235642 | 19304 | 82652 | (10707) | (74055) | 161587 | 1749220 | 1910807 |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | (10993) | (7087) | 131799 | (44645) | 69074 | 7123 | 26885 | (3872) | (23634) | 45440 | 846853 | 892293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 129578 | 0 | 0 | 0 | 129578 | 117016 | 803916 | 79112 | (607788) | (478210) | 5406398 | 4928188 |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio | (16981) | 84150 | 146979 | 41480 | 255628 | 44787 | 159508 | (96661) | (211382) | 44246 | 1713520 | 1757766 |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio | (19980) | (413610) | 1247156 | 1022066 | 1835632 | 128891 | 919915 | (47619) | (838643) | 996989 | 7665475 | 8662464 |
|  Deutsche DWS Variable Series II - Class A: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A | (786) | 5409 | 0 | 31632 | 36255 | 4416 | 11943 | (644) | (8171) | 28084 | 210107 | 238191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | (3027) | (10926) | 46989 | 32818 | 65854 | 32937 | 27468 | 10333 | 15802 | 81656 | 399532 | 481188 |

---

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

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)** 

**For the Year Ended December 31, 2025** 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Principal Transactions | Changes From Principal Transactions | Changes From Principal Transactions | Changes From Principal Transactions | | | |
|  | Net<br>Investment<br>Income (Loss) | Net Realized<br>Gain (Loss)<br>on Sale of<br>Investments in<br>Portfolio Shares | Realized<br>Gain<br>Distributions | Net Change<br>in Unrealized<br>Appreciation<br>(Depreciation)<br>of Investments in<br>Portfolio Shares | Net<br>Increase<br>(Decrease)<br>in Net<br>Assets from<br>Operations | Contract<br>Purchase<br>Payments | Contract<br>Redemptions | Net Transfers<br>To (From)<br>Subaccounts<br>and Fixed<br>Accounts | Net Increase<br>(Decrease) in<br>Net Assets<br>From Principal<br>Transactions |<br>Net<br>Increase<br>(Decrease)<br>in Net Assets |<br>Net Assets<br>Beginning<br>of Period |<br>Net Assets<br>End<br>of Period |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | $11208 | $(6330) | $185913 | $151223 | $342014 | $40971 | $73114 | $(10311) | $(42454) | $299560 | $1602935 | $1902495 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 9835 | (44784) | 132508 | 28117 | 125676 | 29640 | 182877 | (10305) | (163542) | (37866) | 1396437 | 1358571 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | (3182) | 25609 | 107426 | (52153) | 77700 | 29424 | 73979 | (32848) | (77403) | 297 | 1320937 | 1321234 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 15463 | (23402) | 0 | 47655 | 39716 | 18558 | 112304 | 11806 | (81940) | (42224) | 795907 | 753683 |
| &nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 37874 | 21190 | 241637 | 592638 | 893339 | 120911 | 559145 | 64834 | (373400) | 519939 | 3328112 | 3848051 |
| &nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | (19547) | (74615) | 0 | 299291 | 205129 | 74898 | 254488 | (24556) | (204146) | 983 | 1473259 | 1474242 |
|  Janus Aspen Series: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 27932 | 464234 | 239106 | 260022 | 991294 | 179246 | 1106919 | 31097 | (896576) | 94718 | 8082344 | 8177062 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | (83599) | 30657 | 576944 | (143116) | 380886 | 180017 | 834911 | (31541) | (686435) | (305549) | 6958182 | 6652633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | (1761) | 13059 | 16924 | 2702 | 30924 | 1185 | 20025 | 125 | (18715) | 12209 | 175930 | 188139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | (1151) | 587019 | 0 | 1661847 | 2247715 | 252437 | 1086758 | (34228) | (868549) | 1379166 | 8768338 | 10147504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | (63902) | 377796 | 385592 | 31749 | 731235 | 65824 | 1045658 | (418248) | (1398082) | (666847) | 5090187 | 4423340 |
|  Lincoln Variable Insurance Products Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II | (33288) | 51550 | 390145 | (277154) | 131253 | 54228 | 271788 | (37448) | (255008) | (123755) | 2493129 | 2369374 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class | (68) | 218897 | 385213 | 178590 | 782632 | 191844 | 620375 | (273868) | (702399) | 80233 | 6073048 | 6153281 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class | 16961 | (34997) | 422557 | (34892) | 369629 | 167224 | 529692 | (8090) | (370558) | (929) | 5190747 | 5189818 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class | (4682) | 21708 | 29180 | (11962) | 34244 | 1260 | 84528 | (6432) | (89700) | (55456) | 351087 | 295631 |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | (23616) | (563908) | 0 | 912525 | 325001 | 69582 | 484148 | (13121) | (427687) | (102686) | 2593443 | 2490757 |
|  Neuberger Berman Advisers Management Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | (4914) | 6870 | 50211 | (38473) | 13694 | 4022 | 29499 | (18) | (25495) | (11801) | 334147 | 322346 |
| &nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S | (32400) | 148652 | 138103 | 13406 | 267761 | 33658 | 372564 | (12344) | (351250) | (83489) | 2518979 | 2435490 |
|  PIMCO Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 141149 | (27389) | 0 | 91682 | 205442 | 97175 | 314072 | (43035) | (259932) | (54490) | 2879745 | 2825255 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 68791 | (16764) | 0 | 166635 | 218662 | 109933 | 519475 | 4069 | (405473) | (186811) | 3485213 | 3298402 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 263812 | (256142) | 0 | 680563 | 688233 | 337328 | 1534502 | 228543 | (968631) | (280398) | 9481425 | 9201027 |
|  Wilshire Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 33441 | 22987 | 58641 | 178682 | 293751 | 89958 | 291796 | (1059) | (202897) | 90854 | 1924380 | 2015234 |

---

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

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

**For the Year Ended December 31, 2024** 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Principal Transactions | Changes From Principal Transactions | Changes From Principal Transactions | Changes From Principal Transactions | | | |
|  | Net<br>Investment<br>Income (Loss) | Net Realized<br>Gain (Loss)<br>on Sale of<br>Investments in<br>Portfolio Shares | Realized<br>Gain<br>Distributions | Net Change<br>in Unrealized<br>Appreciation<br>(Depreciation)<br>of Investments in<br>Portfolio Shares | Net<br>Increase<br>(Decrease)<br>in Net<br>Assets from<br>Operations | Contract<br>Purchase<br>Payments | Contract<br>Redemptions | Net Transfers<br>To (From)<br>Subaccounts<br>and Fixed<br>Accounts | Net Increase<br>(Decrease) in<br>Net Assets<br>From Principal<br>Transactions |<br>Net<br>Increase<br>(Decrease)<br>in Net Assets |<br>Net Assets<br>Beginning<br>of Period |<br>Net Assets<br>End<br>of Period |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | $6569 | $6712 | $0 | $8888 | $22169 | $21533 | $49263 | $4436 | $(23294) | $(1125) | 617253 | $616128 |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund | (19720) | 19611 | 112085 | 1136204 | 1248180 | 104607 | 643787 | (56780) | (595960) | 652220 | 4586021 | 5238241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares | (128400) | 126277 | 0 | 2657383 | 2655260 | 189023 | 801214 | (111361) | (723552) | 1931708 | 8527999 | 10459707 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 17941 | 78549 | 410503 | 262652 | 769645 | 107516 | 765280 | (85539) | (743303) | 26342 | 5870546 | 5896888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares (\*) | 16146 | 20803 | 0 | (20901) | 16048 | 7586 | 37283 | (827054) | (856751) | (840703) | 840703 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | (4485) | (6062) | 48391 | 85126 | 122970 | 5788 | 57431 | 29162 | (22481) | 100489 | 540300 | 640789 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | (66307) | (44111) | 0 | 1099244 | 988826 | 89320 | 482572 | (49222) | (442474) | 546352 | 4603944 | 5150296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 835 | (147) | 13331 | 28608 | 42627 | 5113 | 84746 | (6688) | (86321) | (43694) | 384463 | 340769 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 5438 | (18854) | 61876 | 85444 | 133904 | 27105 | 175882 | 830306 | 681529 | 815433 | 799904 | 1615337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | 4892 | (16527) | 10865 | (10764) | (11534) | 76450 | 180906 | (24248) | (128704) | (140238) | 2074203 | 1933965 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | (71040) | (21930) | 314522 | 491808 | 713360 | 146757 | 467414 | (127484) | (448141) | 265219 | 5079652 | 5344871 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 32257 | (63606) | 0 | (64055) | (95404) | 156344 | 365350 | (8671) | (217677) | (313081) | 3137798 | 2824717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 3883 | (4598) | 0 | 489 | (226) | 7795 | 33210 | 2500 | (22915) | (23141) | 449675 | 426534 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | (12754) | (18068) | 0 | 63861 | 33039 | 13057 | 144189 | 18937 | (112195) | (79156) | 869230 | 790074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | (52402) | (166992) | 404489 | 567925 | 753020 | 56843 | 278273 | (30031) | (251461) | 501559 | 3620696 | 4122255 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | (24959) | (36950) | 51921 | 298223 | 288235 | 34297 | 208377 | 25727 | (148353) | 139882 | 1949026 | 2088908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | (61693) | 110601 | 165497 | 241787 | 456192 | 102722 | 339727 | 23350 | (213655) | 242537 | 4406876 | 4649413 |
| &nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | (49281) | 9823 | 191762 | 485296 | 637600 | 136399 | 366070 | 32951 | (196720) | 440880 | 3919927 | 4360807 |
|  ALPS Variable Investment Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 39698 | (24018) | 89761 | 695806 | 801247 | 231629 | 1314624 | 403511 | (679484) | 121763 | 9465837 | 9587600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 8462 | (52753) | 0 | 125097 | 80806 | 46819 | 314632 | (552006) | (819819) | (739013) | 2170121 | 1431108 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 28403 | 241924 | 405827 | 1457867 | 2134021 | 588452 | 2171245 | (228678) | (1811471) | 322550 | 19718899 | 20041449 |
| &nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 30035 | (47729) | 25149 | 262939 | 270394 | 63603 | 586109 | 210 | (522296) | (251902) | 4190120 | 3938218 |
|  BNY Mellon Investment Portfolios: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | (2332) | 11343 | 5055 | 23793 | 37859 | 5784 | 19744 | (91471) | (105431) | (67572) | 330892 | 263320 |
| &nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | (11017) | 26328 | 0 | 143374 | 158685 | 5497 | 118133 | 24387 | (88249) | 70436 | 703891 | 774327 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | (138500) | 1298605 | 1918288 | 3132729 | 6211122 | 467153 | 2631940 | (339082) | (2503869) | 3707253 | 28333276 | 32040529 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | (16759) | 86100 | 11395 | 273038 | 353774 | 20926 | 159996 | (27142) | (166212) | 187562 | 1561658 | 1749220 |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | (10674) | (2400) | 61293 | 36774 | 84993 | 7311 | 27259 | (258) | (20206) | 64787 | 782066 | 846853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 101892 | 0 | 0 | 0 | 101892 | 94332 | 509609 | 3115033 | 2699756 | 2801648 | 2604750 | 5406398 |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio | (14524) | 34993 | 23054 | 236706 | 280229 | 45373 | 115101 | 6064 | (63664) | 216565 | 1496955 | 1713520 |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio | (16430) | (262409) | 1550415 | (112063) | 1159513 | 138050 | 811451 | (24394) | (697795) | 461718 | 7203757 | 7665475 |
|  Deutsche DWS Variable Series II - Class A: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A | (102) | 3843 | 0 | 12276 | 16017 | 5597 | 11876 | 162 | (6117) | 9900 | 200207 | 210107 |
| &nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | (1897) | (3220) | 18559 | 2728 | 16170 | 23729 | 13774 | 2801 | 12756 | 28926 | 370606 | 399532 |

---

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

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**STATEMENTS OF CHANGES IN NET ASSETS (CONTINUED)** 

**For the Year Ended December 31, 2024** 

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Operations | Changes From Principal Transactions | Changes From Principal Transactions | Changes From Principal Transactions | Changes From Principal Transactions | | | |
|  | Net<br>Investment<br>Income (Loss) | Net Realized<br>Gain (Loss)<br>on Sale of<br>Investments in<br>Portfolio Shares | Realized<br>Gain<br>Distributions | Net Change<br>in Unrealized<br>Appreciation<br>(Depreciation)<br>of Investments in<br>Portfolio Shares | Net<br>Increase<br>(Decrease)<br>in Net<br>Assets from<br>Operations | Contract<br>Purchase<br>Payments | Contract<br>Redemptions | Net Transfers<br>To (From)<br>Subaccounts<br>and Fixed<br>Accounts | Net Increase<br>(Decrease) in<br>Net Assets<br>From Principal<br>Transactions |<br>Net<br>Increase<br>(Decrease)<br>in Net Assets |<br>Net Assets<br>Beginning<br>of Period |<br>Net Assets<br>End<br>of Period |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | $7232 | $(3865) | $120581 | $(67595) | $56353 | $46027 | $134104 | $(1554) | (89631) | $(33278) | 1636213 | $1602935 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 10346 | (43935) | 30222 | 143508 | 140141 | 35565 | 173248 | (21894) | (159577) | (19436) | 1415873 | 1396437 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | (5312) | 988 | 30666 | 100435 | 126777 | 32748 | 125591 | (2518) | (95361) | 31416 | 1289521 | 1320937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 13396 | (22385) | 0 | 7675 | (1314) | 21723 | 108574 | 677 | (86174) | (87488) | 883395 | 795907 |
| &nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 38951 | (2414) | 0 | (105016) | (68479) | 144445 | 312098 | 4678 | (162975) | (231454) | 3559566 | 3328112 |
| &nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | (20803) | (99482) | 0 | (93507) | (213792) | 84726 | 184544 | (34964) | (134782) | (348574) | 1821833 | 1473259 |
|  Janus Aspen Series: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 31904 | 411680 | 0 | 584214 | 1027798 | 199034 | 797641 | 83766 | (514841) | 512957 | 7569387 | 8082344 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | (46786) | 125068 | 304818 | 501876 | 884976 | 212213 | 651432 | (111164) | (550383) | 334593 | 6623589 | 6958182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | (1362) | 3375 | 5433 | 23649 | 31095 | 1186 | 4802 | (5) | (3621) | 27474 | 148456 | 175930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | (6417) | 357875 | 0 | 34154 | 385612 | 274431 | 835370 | 14208 | (546731) | (161119) | 8929457 | 8768338 |
| &nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | (67435) | 319451 | 153613 | 1019699 | 1425328 | 114618 | 590806 | (399056) | (875244) | 550084 | 4540103 | 5090187 |
|  Lincoln Variable Insurance Products Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II | (32547) | 6980 | 143684 | 378139 | 496256 | 50746 | 214300 | (43802) | (207356) | 288900 | 2204229 | 2493129 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class | 66150 | 216345 | 110725 | 144428 | 537648 | 217236 | 755745 | (29390) | (567899) | (30251) | 6103299 | 6073048 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class | 56273 | (31500) | 241609 | 86241 | 352623 | 194023 | 380378 | (20031) | (206386) | 146237 | 5044510 | 5190747 |
| &nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class | (4899) | 20416 | 30274 | 32487 | 78278 | 1560 | 59255 | 14660 | (43035) | 35243 | 315844 | 351087 |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | (27770) | (1267845) | 0 | 2062343 | 766728 | 71049 | 285658 | (99670) | (314279) | 452449 | 2140994 | 2593443 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Real Estate Portfolio - Class I (\*\*) | 32270 | (42165) | 0 | 323414 | 313519 | 44200 | 267794 | (2499533) | (2723127) | (2409608) | 2409608 | 0 |
|  Neuberger Berman Advisers Management Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | (4512) | 1400 | 20252 | 43383 | 60523 | 4169 | 8684 | (851) | (5366) | 55157 | 278990 | 334147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S | (33532) | 143093 | 114169 | 293219 | 516949 | 39185 | 336582 | (1777) | (299174) | 217775 | 2301204 | 2518979 |
|  PIMCO Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 132884 | (35305) | 0 | 59068 | 156647 | 111096 | 330974 | (19951) | (239829) | (83182) | 2962927 | 2879745 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 46419 | (32532) | 0 | 15427 | 29314 | 128742 | 415488 | (13102) | (299848) | (270534) | 3755747 | 3485213 |
| &nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 264909 | (188456) | 0 | 39756 | 116209 | 388119 | 1217671 | 86090 | (743462) | (627253) | 10108678 | 9481425 |
|  Rydex Variable Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Guggenheim Long Short Equity Fund (\*\*\*) | (2953) | 80410 | 0 | (50714) | 26743 | 3634 | 32775 | (366163) | (395304) | (368561) | 368561 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Wilshire Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 8701 | (13832) | 0 | 178687 | 173556 | 102722 | 269717 | (37769) | (204764) | (31208) | 1955588 | 1924380 |

---

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

(\*) For the period January 1, 2024 through the merger date of April 26, 2024.

(\*\*) For the period January 1, 2024 through the liquidation date of December 4, 2024.

(\*\*\*) For the period January 1, 2024 through the liquidation date of August 16, 2024.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS** 

**December 31, 2025** 

(1)  **<u>ORGANIZATION</u>** 

Annuity Investors Variable Account C (the "Account") is registered under the Investment Company Act of 1940, as amended, as a unit investment trust and follows accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services – Investment Companies. The Account was established on November 7, 2001 and commenced operations on August 1, 2002 as a segregated investment account for individual and group variable annuity contracts, which are registered under the Securities Act of 1933. The operations of the Account are included in the operations of Annuity Investors Life Insurance Company (the "Company") pursuant to the provisions of the Ohio Insurance Code. As of May 28, 2021, the Company is a direct wholly-owned subsidiary of MassMutual Ascend Life Insurance Company, which is a wholly-owned subsidiary of Glidepath Holdings, Inc., a financial services holding company wholly-owned by Massachusetts Mutual Life Insurance Company ("MassMutual"). Prior to that date, the Company was a direct wholly-owned subsidiary of Great American Financial Resources, Inc., a financial services holding company wholly-owned by American Financial Group, Inc. The Company is licensed in 48 states and the District of Columbia.

Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from the Company's other assets and liabilities. The portion of the Account's assets applicable to the variable annuity contracts is not chargeable with liabilities arising out of any other business the Company may conduct.

At December 31, 2025 and for the two year period then ended, the following investment options or funds, each representing a sub-account of the Account, were available (unless otherwise noted):

**AB Variable Products Series Fund, Inc.:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AB International Value Portfolio-Class B

**AIM Variable Insurance Funds (Invesco Variable Insurance Funds):** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. American Value Fund-Series I Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Comstock Fund-Series I Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Core Equity Fund-Series I Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Discovery Large Cap-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Diversified Dividend Fund-Series I Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Equity and Income Fund-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. EQV International Equity Fund-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Global Fund-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Global Real Estate Fund-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Government Securities Fund-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Health Care Fund-Series I Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II
Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Invesco V.I. Small Cap Equity Fund-Series I Shares

**ALPS Variable Investment Trust:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Morningstar Balanced ETF Asset Allocation Portfolio-Class II

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Morningstar Conservative ETF Asset Allocation Portfolio-Class II

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Morningstar Growth ETF Asset Allocation Portfolio-Class II

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(1)  **<u>ORGANIZATION - Continued</u>** 

**BNY Mellon Investment Portfolios:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MidCap Stock Portfolio-Service Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Technology Growth Portfolio-Initial Shares

**BNY Mellon Stock Index Fund, Inc. – Service Shares** 

**BNY Mellon Sustainable U.S. Equity Portfolio, Inc. – Service Shares** 

**BNY Mellon Variable Investment Fund:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Appreciation Portfolio-Service Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Government Money Market Portfolio

**Calamos<sup>®</sup> Advisors Trust:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Calamos<sup>®</sup> Growth and Income Portfolio

**Davis Variable Account Fund, Inc.:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Davis Equity Portfolio

**Deutsche DWS Variable Series II:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• DWS International Opportunities VIP-Class A

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• DWS Small Mid Cap Value VIP-Class B

**Franklin Templeton Variable Insurance Products Trust:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Franklin Mutual Global Discovery VIP Fund-Class 2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Franklin Mutual Shares VIP Fund-Class 2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Franklin Small Cap Value VIP Fund-Class 2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Franklin U.S. Government Securities VIP Fund-Class 2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Templeton Foreign VIP Fund-Class 2

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Templeton Global Bond VIP Fund-Class 2

**Janus Aspen Series:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Janus Henderson VIT Balanced Portfolio-Service Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Janus Henderson VIT Enterprise Portfolio-Service Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Janus Henderson VIT Global Research Portfolio-Service Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Janus Henderson VIT Overseas Portfolio-Service Shares

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Janus Henderson VIT Research Portfolio-Service Shares

**Lincoln Variable Insurance Products Trust:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• LVIP American Century Capital Appreciation Fund-Standard Class II

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• LVIP American Century Large Company Value Fund-Service Class

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• LVIP American Century Mid Cap Value Fund-Service Class

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• LVIP American Century Ultra<sup>®</sup> Fund-Service Class

**Morgan Stanley Variable Insurance Fund, Inc.:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Discovery Portfolio-Class I

**Neuberger Berman Advisers Management Trust:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mid Cap Growth Portfolio-Class S

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Quality Equity Portfolio-Class S

**PIMCO Variable Insurance Trust:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PIMCO High Yield Portfolio-Administrative Class

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PIMCO Real Return Portfolio-Administrative Class

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PIMCO Total Return Portfolio-Administrative Class

**Wilshire Variable Insurance Trust:** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wilshire Global Allocation Fund

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(1)  **<u>ORGANIZATION - Continued</u>** 

**Neuberger Berman Advisers Management Trust:** Effective on July 28, 2025, Neuberger Berman Sustainable Equity Portfolio was renamed Neuberger Berman Quality Equity Portfolio.

**Deutsche DWS Variable Series II:** Effective on May 1, 2025, DWS International Growth VIP was renamed DWS International Opportunities VIP.

**AIM Variable Insurance Funds (Invesco Variable Insurance Funds):** Effective on April 30, 2025, Invesco V.I. Capital Appreciation Fund was renamed Invesco V.I. Discovery Large Cap Fund.

**Morgan Stanley Variable Insurance Fund, Inc.:** The Morgan Stanley U.S. Real Estate Portfolio was liquidated on December 4, 2024. If variable annuity contract owners had money allocated to the Morgan Stanley U.S. Real Estate Portfolio-Class I Sub-Account on December 5, 2024, the money was transferred to the sub-account for the BNY Mellon Variable Investment Fund, Government Money Market Portfolio.

**Rydex Variable Trust:** Effective on or about August 16, 2024, Guggenheim Long Short Equity Fund liquidated.

**Davis Variable Account Fund, Inc.:** Effective June 30, 2024, Davis Value Portfolio was renamed Davis Equity Portfolio.

**AIM Variable Insurance Funds (Invesco Variable Insurance Funds)**: Effective on or about April 26, 2024, Invesco V.I. Conservative Balanced Fund was merged into Invesco V.I. Equity and Income Fund.

**American Century Variable Portfolios:** Effective on or about April 26, 2024, each fund of American Century Variable Portfolios, Inc., was reorganized into a substantially similar series and class of Lincoln Variable Insurance Products Trust as listed below. Class I shares reorganized into Standard Class II shares and Class II shares reorganized into Service Class shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• American Century VP Capital Appreciation Fund reorganized into LVIP American Century Capital Appreciation Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• American Century VP Large Company Value Fund reorganized into LVIP American Century Large Company Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• American Century VP Mid Cap Value Fund reorganized into LVIP American Century Mid Cap Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• American Century VP Ultra<sup>®</sup> Fund reorganized into LVIP
American Century Ultra<sup>®</sup> Fund

(2)  **<u>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</u>** 

**<u>Basis of Presentation</u>**

The preparation of financial statements in accordance with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Changes in circumstances could cause actual results to differ materially from those estimates.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(2)  **<u>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued</u>** 

**<u>Fair Value Measurements</u>**

Accounting standards for measuring fair value are based on inputs used in estimating fair value. The three levels of the hierarchy are as follows:

Level 1 – Quoted prices for identical assets or liabilities in active markets (markets in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis).

Level 2 – Quoted prices for similar instruments in active markets; quoted prices for identical or similar assets or liabilities in inactive markets (markets in which there are few transactions, the prices are not current, price quotations vary substantially over time or among market makers, or in which little information is released publicly); and valuations based on other significant inputs that are observable in active markets

Level 3 – Valuations derived from market valuation techniques generally consistent with those used to estimate the fair values of Level 2 financial instruments in which one or more significant inputs are unobservable. The unobservable inputs may include management's own assumptions about the assumptions market participants would use based on the best information available in the circumstances.

The investments of the Sub-Accounts are measured at fair value. All the investments are categorized as Level 1 as of December 31, 2025.

**<u>Investments</u>**

Investments are stated at fair value as determined by the closing net asset values of the respective portfolios. Net asset value is quoted by the fund company and is derived using the fair value of the underlying investments. Investment transactions are accounted for on the trade date (the date the order to buy or sell is executed). Income from dividends is recorded on the ex-dividend date. The cost of investments sold is determined on a first-in, first-out basis. The Sub-Accounts do not hold any investments that are restricted as to resale.

Net investment income (loss), net realized gains (losses) and unrealized appreciation (depreciation) on investments are allocated to the contracts on each valuation date based on each contract's pro rata share of the assets of the Account as of the beginning of the valuation date.

**<u>Federal Income Taxes</u>**

No provision for federal income taxes has been made in the accompanying financial statements as the operations of the Account are included in the total operations of the Company, which is treated as a life insurance company for federal income tax purposes under Subchapter L of the Internal Revenue Code. Net investment income (loss) and realized gains (losses) will be retained in the Account and will not be taxable until received by the contract owner or beneficiary in the form of annuity payments or other distributions.

**<u>Net Assets Attributable to Variable Annuity Contract Holders</u>**

The variable annuity contract reserves at the insurance company are comprised of net contract purchase payments less redemptions and benefits. These reserves are adjusted daily for the net investment income (loss), net realized gain (loss) and unrealized appreciation (depreciation) on investments.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(2)  **<u>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Continued</u>** 

**<u>Single Reportable Segment</u>**

The Separate Account derives revenues from variable annuity products. The Company has identified the President as the chief operating decision maker for overseeing the products and the performance of the underlying funds to evaluate the results of the business and make operational decisions. The Separate Account's products constitute as a single operating segment and therefore, a single reportable segment. Separate Accounts are structured with a limited purpose by design and their sole purpose, which records and reports the invested funds and activities and performance chosen by contract/policy holders. Investment performance of funds may vary based on the underlying fund's investment objectives specified in the fund prospectuses. The accounting policies used to measure the profit and loss of the segment are the same as those described in the summary of significant accounting policies herein.

(3)  **<u>DEDUCTIONS AND EXPENSES</u>** 

Although periodic annuitization payments to contract owners vary according to the investment performance of the sub-accounts, such payments are not affected by mortality or expense experience because the Company assumes the mortality and expense risks under the contracts.

The mortality risk assumed by the Company results from the life annuity payment option in the contracts, in which the Company agrees to make annuity payments regardless of how long a particular annuitant or other payee lives. The annuity payments are determined in accordance with annuity purchase rate provisions established at the time the contracts are issued. Based on the actuarial determination of expected mortality, the Company is required to fund any deficiency in the annuity payment reserves from its general account assets.

The expense risk assumed by the Company is the risk that the deductions for sales and administrative expenses may prove insufficient to cover the actual sales and administrative expenses.

Under each contract, the Company deducts a fee from the Account each day for assuming the mortality and expense risks. These fees are equal on an annual basis to a percentage of the daily value of the total investments of the Account. In connection with certain contracts in which the Company incurs reduced sales and servicing expenses, such as contracts offered to active employees of the Company or any of its subsidiaries and/or affiliates, the Company may offer enhanced contracts.

The following schedule lists aggregate mortality and expense risk fees deducted by contract type for the year ended December 31, 2025:

---

| | |
|:---|:---|
|  2.00% Series Contracts | $22180 |
|  1.95% Series Contracts | 2545 |
|  1.80% Series Contracts | 8873 |
|  1.75% Series Contracts | 29200 |
|  1.70% Series Contracts | 8024 |
|  1.65% Series Contracts | 61592 |
|  1.55% Series Contracts | 106865 |
|  1.50% Series Contracts | 36687 |
|  1.45% Series Contracts | 30855 |
|  1.40% Series Contracts | 783231 |
|  1.25% Series Contracts | 1763149 |
|  1.00% Series Contracts | 40854 |
|  | $2894055 |

---

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(3)  **<u>DEDUCTIONS AND EXPENSES - Continued</u>** 

The Company may deduct a percentage of purchase payments surrendered to cover sales expenses. The percentage ranges from 0% to a maximum of 9.0% depending on the product and based upon the number of years the purchase payment has been held.

In addition, the Company may deduct units from contracts annually and upon full surrender to cover an administrative fee ranging from $30 to $40 per contract. These fees totaled $74,783 for the year ended December 31, 2025.

(4)  **<u>OTHER</u>** 

**<u>Other Transactions with Affiliates</u>**

MM Ascend Life Investors Services, LLC ("MMALIS"), an affiliate of the Account, is the principal underwriter and performs all variable annuity sales functions on behalf of the Company. All commissions and amounts paid to MMALIS for acting as underwriter are paid by the Company.

Pursuant to an administrative services agreement between MassMutual, the Company, and affiliates of the Company, MassMutual provides administrative and support services to the Company and the Account.

**<u>Subsequent Events</u>**

Management has evaluated the impact of subsequent events on the Account through the date the financial statements were issued and has determined that there were no subsequent events requiring recognition or disclosure in the financial statements.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(5)  **<u>PURCHASES AND SALES OF INVESTMENT IN PORTFOLIO SHARES</u>** 

The aggregate cost of purchases and proceeds from sales of investments in all portfolio shares for the year or period ended December 31, 2025 are as follows:

---

| | | |
|:---|:---|:---|
|  | 2025 | 2025 |
|  | Cost of<br>Purchases | Proceeds<br>from Sales |
|  AB Variable Products Series Fund, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | $28906 | $94547 |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund | 841358 | 871081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 737624 | 831006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | 54981 | 104490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares | 1579183 | 1179264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | 535568 | 495920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 48220 | 54492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 127336 | 229835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | 292716 | 227527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | 1088275 | 630444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 132882 | 297721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 43286 | 44286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | 42810 | 112390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | 301895 | 747669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | 208172 | 358877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | 484228 | 846990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | 257763 | 475838 |
|  ALPS Variable Investment Trust: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 1375104 | 1458205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 77306 | 466560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 2037286 | 2247158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 429786 | 322208 |
|  BNY Mellon Investment Portfolios: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | 41685 | 17900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | 375072 | 150614 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | 2352489 | 4662815 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | 157844 | 107404 |
|  BNY Mellon Variable Investment Fund: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | 135501 | 38329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 359795 | 838005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Advisors Trust: |  |  |
|  Calamos<sup>®</sup> Growth and Income Portfolio | 182770 | 264154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Variable Account Fund, Inc.: |  |  |
|  Davis Equity Portfolio | 1403225 | 1014692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deutsche DWS Variable Series II: |  |  |
|  DWS International Opportunities VIP-Class A | 6567 | 15524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | 89993 | 30229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Templeton Variable Insurance Products Trust: |  |  |
|  Franklin Mutual Global Discovery VIP Fund - Class 2 | 254057 | 99390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 174448 | 195647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | 142980 | 116139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 47145 | 113622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 504594 | 598483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | 60825 | 284518 |

---

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(5)  **<u>PURCHASES AND SALES OF INVESTMENT IN PORTFOLIO SHARES - Continued</u>** 

The aggregate cost of purchases and proceeds from sales of investments in all portfolio shares for the year or period ended December 31, 2025, are as follows:

---

| | | |
|:---|:---|:---|
|  | 2025 | 2025 |
|  | Cost of<br>Purchases | Proceeds<br>from Sales |
|  Janus Aspen Series: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | $558954 | $1188492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | 672067 | 865157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | 18287 | 21839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | 255677 | 1125377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | 519292 | 1595684 |
|  Lincoln Variable Insurance Products Trust: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II | 445310 | 343462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class | 585610 | 902864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class | 637061 | 568101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class | 31917 | 97119 |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | 70250 | 521553 |
|  Neuberger Berman Advisers Management Trust: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | 52447 | 32645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S | 162302 | 407849 |
|  PIMCO Variable Insurance Trust: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 232581 | 351364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 179922 | 516604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 824605 | 1529424 |
|  Wilshire Variable Insurance Trust: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 185407 | 296222 |

---

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(6)  **<u>CHANGES IN UNITS OUTSTANDING</u>** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Units<br>Outstanding<br>1/1/2025** | **Units<br>Purchased** | **Units<br>Redeemed** | **Units<br>Outstanding<br>12/31/2025** |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.80% series contract | 1022.969 | 39.310 | 0.000 | 1062.279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.75% series contract | 9.141 | 0.000 | 0.029 | 9.112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.65% series contract | 9.147 | 0.000 | 0.028 | 9.119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.55% series contract | 5280.784 | 120.814 | 1172.528 | 4229.070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.50% series contract | 1120.351 | 17.408 | 356.566 | 781.193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.45% series contract | 1747.366 | 16.837 | 91.205 | 1672.998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.25% series contract | 68486.658 | 1829.748 | 8022.113 | 62294.293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.00% series contract | 1590.845 | 22.309 | 290.842 | 1322.312 |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.80% series contract | 577.651 | 11.754 | 0.000 | 589.405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.75% series contract | 9.102 | 0.000 | 0.028 | 9.074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.70% series contract | 303.952 | 0.000 | 149.442 | 154.510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.65% series contract \* | 9.107 | 0.000 | 0.027 | 9.080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.65% series contract | 1312.892 | 41.886 | 710.048 | 644.730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.55% series contract | 2872.050 | 48.308 | 426.884 | 2493.474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.50% series contract | 1740.990 | 20.184 | 177.868 | 1583.306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.45% series contract | 573.692 | 3.241 | 1.904 | 575.029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.40% series contract | 37064.872 | 307.915 | 7081.866 | 30290.921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.25% series contract | 64807.114 | 1546.354 | 6547.443 | 59806.025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.00% series contract | 1283.887 | 10.782 | 135.431 | 1159.238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 2.00% series contract | 3879.210 | 74.585 | 794.031 | 3159.764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.95% series contract | 415.691 | 2.850 | 0.000 | 418.541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.75% series contract | 3157.347 | 0.000 | 798.611 | 2358.736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.70% series contract | 458.406 | 0.000 | 214.427 | 243.979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.65% series contract | 3732.326 | 0.545 | 1464.462 | 2268.409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.55% series contract | 1082.910 | 0.000 | 19.560 | 1063.350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.50% series contract | 1449.451 | 14.451 | 0.248 | 1463.654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.40% series contract | 88414.141 | 1097.784 | 4882.334 | 84629.591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.25% series contract | 77164.491 | 823.338 | 15208.115 | 62779.714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.00% series contract | 629.546 | 35.546 | 0.235 | 664.857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.80% series contract | 747.229 | 0.000 | 29.229 | 718.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.70% series contract | 6.505 | 0.000 | 6.505 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.65% series contract | 201.378 | 7.315 | 25.215 | 183.478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.40% series contract | 17498.855 | 138.298 | 2560.840 | 15076.313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 2.00% series contract | 915.455 | 0.000 | 52.806 | 862.649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.80% series contract | 1788.395 | 22.073 | 0.127 | 1810.341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.75% series contract | 30.535 | 0.000 | 21.489 | 9.046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.70% series contract | 76.608 | 0.000 | 0.078 | 76.530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.65% series contract \* | 2976.111 | 11.396 | 0.027 | 2987.480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.65% series contract | 113.425 | 17.780 | 24.524 | 106.681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.55% series contract | 9304.035 | 371.479 | 1377.087 | 8298.427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.50% series contract | 2858.035 | 40.929 | 534.706 | 2364.258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.45% series contract | 2778.191 | 10.425 | 141.212 | 2647.404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.40% series contract | 24506.646 | 529.544 | 2504.283 | 22531.907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.25% series contract | 188721.685 | 6429.388 | 16974.945 | 178176.128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares - 1.00% series contract | 8414.320 | 83.400 | 3510.207 | 4987.513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 2.00% series contract | 1570.312 | 0.000 | 90.581 | 1479.731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.80% series contract | 3206.746 | 37.224 | 60.841 | 3183.129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.75% series contract | 55.162 | 0.000 | 38.677 | 16.485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.70% series contract | 400.358 | 0.000 | 0.254 | 400.104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.65% series contract | 1220.568 | 0.000 | 0.050 | 1220.518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.55% series contract | 10368.489 | 839.089 | 1842.896 | 9364.682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.50% series contract | 4611.191 | 98.728 | 914.731 | 3795.188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.45% series contract | 4074.348 | 22.517 | 187.218 | 3909.647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.40% series contract | 69126.795 | 746.280 | 3671.794 | 66201.281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.25% series contract | 227775.354 | 4570.849 | 22780.639 | 209565.564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares - 1.00% series contract | 6557.568 | 48.600 | 1125.465 | 5480.703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.70% series contract | 132.579 | 2.891 | 0.054 | 135.416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.65% series contract | 180.587 | 20.629 | 6.285 | 194.931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.40% series contract | 11704.983 | 606.648 | 1765.136 | 10546.495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.75% series contract | 11.645 | 0.000 | 0.036 | 11.609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.70% series contract | 29.943 | 0.000 | 8.333 | 21.610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.65% series contract\*\*\* | 6432.988 | 238.547 | 464.986 | 6206.549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.65% series contract | 273.216 | 0.000 | 17.020 | 256.196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.55% series contract | 12.564 | 0.000 | 0.036 | 12.528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.40% series contract | 125779.680 | 1981.396 | 15615.370 | 112145.706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.25% series contract | 10732.513 | 105.441 | 3403.197 | 7434.757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.00% series contract | 12.854 | 0.000 | 0.048 | 12.806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.75% series contract | 17.279 | 0.000 | 2.889 | 14.390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.65% series contract | 1136.444 | 0.000 | 0.028 | 1136.416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.55% series contract | 9.586 | 0.000 | 0.027 | 9.559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.50% series contract | 641.374 | 29.480 | 0.218 | 670.636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.25% series contract | 128069.497 | 8969.041 | 13092.410 | 123946.128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares - 1.00% series contract | 1187.130 | 35.339 | 106.959 | 1115.510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.80% series contract | 39.702 | 91.334 | 95.846 | 35.190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.75% series contract | 9.116 | 0.000 | 0.028 | 9.088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.70% series contract | 53.749 | 0.000 | 0.000 | 53.749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.65% series contract \* | 283.983 | 17.143 | 292.029 | 9.097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.65% series contract | 10.725 | 10.690 | 0.067 | 21.348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.55% series contract | 1811.880 | 82.947 | 68.040 | 1826.787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.50% series contract | 3394.647 | 100.128 | 124.726 | 3370.049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.40% series contract | 22286.990 | 254.395 | 1996.984 | 20544.401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.25% series contract | 129440.978 | 2994.725 | 15603.663 | 116832.040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.00% series contract | 3151.194 | 185.949 | 149.395 | 3187.748 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(6)  **<u>CHANGES IN UNITS OUTSTANDING-Continued</u>** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Units<br>Outstanding<br>1/1/2025** | **Units<br>Purchased** | **Units<br>Redeemed** | **Units<br>Outstanding<br>12/31/2025** |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 2.00% series contract | 689.210 | 0.000 | 39.756 | 649.454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.80% series contract | 987.377 | 168.719 | 150.205 | 1005.891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.75% series contract | 20.590 | 0.000 | 11.497 | 9.093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.65% series contract | 2319.322 | 6.662 | 454.466 | 1871.518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.55% series contract | 9675.689 | 465.070 | 550.627 | 9590.132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.50% series contract | 5424.539 | 193.572 | 282.611 | 5335.500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.45% series contract | 1244.245 | 10.600 | 58.676 | 1196.169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.25% series contract | 234277.857 | 8291.047 | 23541.955 | 219026.949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.00% series contract | 6449.031 | 479.202 | 484.075 | 6444.158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.70% series contract | 340.462 | 4.289 | 5.607 | 339.144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.65% series contract | 5250.782 | 48.569 | 200.215 | 5099.136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.40% series contract | 29905.436 | 2589.248 | 3026.322 | 29468.362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares - 1.70% series contract | 100.327 | 1.231 | -0.001 | 101.559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares - 1.40% series contract | 19102.346 | 375.574 | 2398.073 | 17079.847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 9.113 | 0.000 | 0.028 | 9.085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.65% series contract \* | 609.535 | 0.000 | 0.027 | 609.508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.65% series contract | 1268.320 | 61.543 | 0.000 | 1329.863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 9.517 | 0.000 | 0.027 | 9.490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 38790.335 | 319.405 | 5181.438 | 33928.302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 63214.523 | 1267.024 | 12858.382 | 51623.165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 479.316 | 29.189 | 0.141 | 508.364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 2.00% series contract | 2501.360 | 62.411 | 452.043 | 2111.728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.95% series contract | 392.704 | 2.811 | 0.000 | 395.515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 2115.963 | 55.825 | 566.451 | 1605.337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract \* | 9.094 | 0.000 | 0.027 | 9.067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 3039.326 | 41.629 | 474.131 | 2606.824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.50% series contract | 1604.460 | 19.606 | 0.411 | 1623.655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 10462.091 | 82.160 | 1238.392 | 9305.859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 56276.967 | 753.785 | 10299.681 | 46731.071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 345.928 | 0.000 | 121.852 | 224.076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 9.052 | 0.000 | 0.028 | 9.024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.70% series contract | 436.208 | 2.264 | 242.161 | 196.311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract \* | 103.679 | 0.000 | 6.176 | 97.503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract | 363.895 | 51.254 | 1.675 | 413.474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 436.610 | 0.000 | 17.387 | 419.223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.50% series contract | 943.011 | 18.593 | 41.422 | 920.182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 40886.338 | 646.423 | 6379.948 | 35152.813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 50538.865 | 1217.516 | 11011.513 | 40744.868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 28.200 | 85.970 | 0.093 | 114.077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 2.00% series contract | 560.521 | 0.000 | 32.333 | 528.188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.80% series contract | 26.096 | 61.619 | 63.092 | 24.623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.75% series contract | 12.943 | 0.000 | 1.209 | 11.734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.70% series contract | 592.516 | 3.141 | 501.570 | 94.087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.65% series contract \* | 2281.378 | 32.867 | 250.194 | 2064.051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.65% series contract | 18.327 | 21.625 | 0.000 | 39.952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.55% series contract | 3013.569 | 110.835 | 34.404 | 3090.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.50% series contract | 2762.680 | 100.545 | 78.406 | 2784.819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.45% series contract | 993.126 | 19.519 | -0.001 | 1012.646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.40% series contract | 21794.785 | 327.129 | 1153.138 | 20968.776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.25% series contract | 106336.138 | 2868.721 | 12236.227 | 96968.632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.00% series contract | 3126.422 | 134.594 | 213.604 | 3047.412 |
|  ALPS Variable Investment Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 2.00% series contract | 1971.902 | 0.000 | 0.000 | 1971.902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.80% series contract | 717.148 | 0.000 | 0.000 | 717.148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 274.941 | 0.000 | 121.668 | 153.273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.70% series contract | 20.656 | 0.000 | 0.000 | 20.656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 33103.970 | 0.000 | 14400.453 | 18703.517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 120.291 | 0.000 | 22.332 | 97.959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 43488.829 | 70.430 | 1517.007 | 42042.252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 2591.180 | 81.400 | 45.796 | 2626.784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 49457.844 | 2391.898 | 6803.036 | 45046.706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 370875.510 | 10404.593 | 50172.587 | 331107.516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 24827.275 | 1295.927 | 615.794 | 25507.408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 7567.389 | 0.000 | 1768.054 | 5799.335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 1111.369 | 0.000 | 711.213 | 400.156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 1888.009 | 0.000 | 1881.308 | 6.701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 9439.371 | 193.025 | 1581.638 | 8050.758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 8141.258 | 182.424 | 555.963 | 7767.719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 3124.676 | 1006.198 | 0.103 | 4130.771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 82315.325 | 2712.583 | 28306.587 | 56721.321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 29.705 | 0.000 | 0.121 | 29.584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 9.121 | 0.000 | 0.028 | 9.093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.70% series contract | 15.737 | 0.000 | 0.000 | 15.737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 32570.506 | 0.000 | 2242.117 | 30328.389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 1229.166 | 13.900 | 1231.537 | 11.529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 87437.564 | 957.473 | 28583.169 | 59811.868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.50% series contract | 9988.020 | 1220.975 | 1.309 | 11207.686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 25597.385 | 190.861 | 5493.031 | 20295.215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 15746.543 | 2973.356 | 3326.342 | 15393.557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 786284.664 | 14261.530 | 55692.071 | 744854.123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 542.601 | 0.000 | 0.490 | 542.111 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(6)  **<u>CHANGES IN UNITS OUTSTANDING-Continued</u>** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Units<br>Outstanding<br>1/1/2025** | **Units<br>Purchased** | **Units<br>Redeemed** | **Units<br>Outstanding<br>12/31/2025** |
|  ALPS Variable Investment Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 2.00% series contract | 1974.140 | 0.000 | 0.000 | 1974.140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 5865.543 | 114.277 | 667.144 | 5312.676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 28641.407 | 69.858 | 1799.470 | 26911.795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 6.804 | 0.000 | 0.107 | 6.697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 7355.524 | 137.277 | 92.730 | 7400.071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.50% series contract | 1463.445 | 6.489 | 33.832 | 1436.102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 19241.586 | 137.054 | 387.619 | 18991.021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 5886.343 | 0.000 | 99.653 | 5786.690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 187779.254 | 2750.822 | 15479.554 | 175050.522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 230.023 | 0.000 | 221.093 | 8.930 |
|  BNY Mellon Investment Portfolios: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.75% series contract | 9.083 | 0.000 | 0.029 | 9.054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.65% series contract \* | 9.089 | 0.000 | 0.028 | 9.061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.65% series contract | 10.326 | 0.305 | 0.132 | 10.499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.55% series contract | 27.412 | 0.000 | 17.952 | 9.460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.50% series contract | 676.942 | 0.000 | 0.000 | 676.942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.40% series contract | 589.178 | 0.000 | 0.102 | 589.076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.25% series contract | 7067.536 | 553.680 | 508.296 | 7112.920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.00% series contract | 286.160 | 34.463 | 0.524 | 320.099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.70% series contract | 8.143 | 0.000 | 0.000 | 8.143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.65% series contract | 30.191 | 0.000 | 2.229 | 27.962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.40% series contract | 10931.758 | 134.393 | 1683.726 | 9382.425 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 2.00% series contract | 4842.119 | 100.128 | 1068.903 | 3873.344 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.95% series contract | 667.471 | 4.255 | -0.001 | 671.727 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.80% series contract \*\* | 1392.132 | 63.117 | 44.262 | 1410.987 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.80% series contract | 557.739 | 0.000 | 21.793 | 535.946 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.75% series contract | 5649.668 | 99.509 | 1159.837 | 4589.340 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.70% series contract | 234.280 | 0.000 | 132.560 | 101.720 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.65% series contract \* | 2126.502 | 14.784 | 111.688 | 2029.598 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.65% series contract | 1927.902 | 12.373 | 3.142 | 1937.133 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.55% series contract | 13066.887 | 224.864 | 3286.594 | 10005.157 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.50% series contract | 6434.539 | 76.588 | 757.136 | 5753.991 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.45% series contract | 13473.127 | 67.384 | 338.090 | 13202.421 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.40% series contract | 227832.924 | 3061.428 | 23630.272 | 207264.080 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.25% series contract | 330957.147 | 6439.449 | 53872.554 | 283524.042 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.00% series contract | 11149.680 | 144.279 | 1534.932 | 9759.027 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.80% series contract | 338.147 | 0.000 | 0.000 | 338.147 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.75% series contract | 9.064 | 0.000 | 0.028 | 9.036 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.70% series contract | 142.371 | 0.000 | 0.000 | 142.371 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.65% series contract | 9.069 | 0.000 | 0.028 | 9.041 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.55% series contract | 39.216 | 0.000 | 0.136 | 39.080 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.40% series contract | 14982.971 | 93.129 | 386.427 | 14689.673 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.25% series contract | 20064.177 | 288.580 | 1485.639 | 18867.118 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.00% series contract | 1105.003 | 35.993 | 218.674 | 922.322 |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.80% series contract | 600.525 | 0.000 | 23.484 | 577.041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.70% series contract | 281.786 | 5.050 | 0.082 | 286.754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.65% series contract | 687.481 | 10.851 | 23.255 | 675.077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.40% series contract | 15057.568 | 128.651 | 535.450 | 14650.769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 2.00% series contract | 29814.239 | 847.644 | 6961.386 | 23700.497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.80% series contract | 92.033 | 0.000 | 0.369 | 91.664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.75% series contract | 35640.841 | 14707.629 | 16878.428 | 33470.042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.70% series contract | 50199.169 | 836.605 | 228.415 | 50807.359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.65% series contract \* | 15947.317 | 0.000 | 0.691 | 15946.626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.65% series contract | 73961.208 | 1279.589 | 2138.215 | 73102.582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.55% series contract | 289420.577 | 26609.354 | 5892.500 | 310137.431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.50% series contract | 14788.359 | 1214.098 | 735.759 | 15266.698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.45% series contract | 413.980 | 0.000 | 14.114 | 399.866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.40% series contract | 3568665.640 | 80225.300 | 712060.363 | 2936830.577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.25% series contract | 1465095.874 | 107006.456 | 96074.062 | 1476028.268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.00% series contract | 43773.420 | 1978.460 | 2157.783 | 43594.097 |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.75% series contract | 24.206 | 0.000 | 5.470 | 18.736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.65% series contract \* | 304.848 | 0.000 | 13.314 | 291.534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.65% series contract | 864.293 | 99.568 | 27.485 | 936.376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.55% series contract | 1823.027 | 0.000 | 45.116 | 1777.911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.50% series contract | 1664.821 | 169.933 | -0.001 | 1834.755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.40% series contract | 6807.812 | 67.229 | 599.295 | 6275.746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.25% series contract | 41042.862 | 1039.893 | 4670.113 | 37412.642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.00% series contract | 2172.152 | 0.000 | 2156.378 | 15.774 |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.80% series contract | 1825.018 | 36.546 | 0.168 | 1861.396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.75% series contract | 47.163 | 0.000 | 38.144 | 9.019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.65% series contract \* | 217.964 | 0.000 | 13.602 | 204.362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.65% series contract | 532.819 | 48.979 | 24.371 | 557.427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.55% series contract | 9850.101 | 153.422 | 2193.266 | 7810.257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.50% series contract | 4422.377 | 71.184 | 807.496 | 3686.065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.45% series contract | 4384.538 | 19.702 | 196.560 | 4207.680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.40% series contract | 13756.414 | 156.106 | 2539.225 | 11373.295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.25% series contract | 218438.622 | 3676.071 | 23643.481 | 198471.212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.00% series contract | 7714.636 | 86.370 | 1118.400 | 6682.606 |
|  Deutsche DWS Variable Series II: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 2.00% series contract | 28.215 | 0.000 | 1.539 | 26.676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.75% series contract | 9.141 | 0.000 | 0.028 | 9.113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.65% series contract | 9.146 | 0.000 | 0.027 | 9.119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.55% series contract | 9.548 | 0.000 | 0.027 | 9.521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.25% series contract | 13965.237 | 308.348 | 792.402 | 13481.183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A - 1.00% series contract | 8.934 | 0.000 | 0.033 | 8.901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.75% series contract | 9.176 | 0.000 | 0.028 | 9.148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.65% series contract | 9.182 | 0.000 | 0.028 | 9.154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.55% series contract | 1036.924 | 0.000 | 132.972 | 903.952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.50% series contract | 576.667 | 28.895 | 0.071 | 605.491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.25% series contract | 15679.905 | 1836.008 | 993.218 | 16522.695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.00% series contract | 264.158 | 0.000 | 123.309 | 140.849 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(6)  **<u>CHANGES IN UNITS OUTSTANDING-Continued</u>** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Units<br>Outstanding<br>1/1/2025** | **Units<br>Purchased** | **Units<br>Redeemed** | **Units<br>Outstanding<br>12/31/2025** |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.75% series contract | 9.232 | 0.000 | 0.029 | 9.203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.65% series contract | 1816.602 | 15.981 | 0.158 | 1832.425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.55% series contract | 250.070 | 0.000 | 0.141 | 249.929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.50% series contract | 861.257 | 68.303 | 0.397 | 929.163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.25% series contract | 51661.348 | 1341.616 | 2676.711 | 50326.253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.00% series contract | 821.985 | 17.705 | 160.349 | 679.341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.75% series contract | 9.113 | 0.000 | 0.028 | 9.085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.65% series contract | 323.176 | 0.000 | 13.458 | 309.718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.55% series contract | 2990.288 | 49.230 | 296.112 | 2743.406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.50% series contract | 412.485 | 0.000 | 0.591 | 411.894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.25% series contract | 63431.484 | 1087.355 | 8644.357 | 55874.482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.00% series contract | 65.173 | 0.000 | 0.216 | 64.957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 2.00% series contract | 1330.545 | 35.346 | 274.981 | 1090.910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.95% series contract | 175.325 | 1.362 | 0.000 | 176.687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.75% series contract | 1523.263 | 63.910 | 333.824 | 1253.349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.65% series contract | 239.504 | 0.000 | 0.028 | 239.476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.55% series contract | 1558.603 | 0.000 | 12.065 | 1546.538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.50% series contract | 786.289 | 1.621 | 0.383 | 787.527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.25% series contract | 23493.070 | 600.940 | 1814.388 | 22279.622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.00% series contract | 248.410 | 18.312 | 25.226 | 241.496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 2.00% series contract | 6466.294 | 146.989 | 1490.627 | 5122.656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.95% series contract | 413.640 | 3.720 | -0.001 | 417.361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.80% series contract | 342.729 | 0.000 | 0.065 | 342.664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.75% series contract | 8931.364 | 262.462 | 1197.085 | 7996.741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.65% series contract | 9.206 | 0.000 | 0.028 | 9.178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.55% series contract | 2256.903 | 1020.829 | 923.363 | 2354.369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.50% series contract | 573.688 | 0.000 | 0.515 | 573.173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.45% series contract | 67.542 | 0.000 | 2.303 | 65.239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.25% series contract | 54945.071 | 1231.431 | 6713.854 | 49462.648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.00% series contract | 2539.201 | 66.722 | 140.452 | 2465.471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 2.00% series contract | 9770.770 | 217.839 | 1909.660 | 8078.949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.95% series contract | 1306.937 | 9.821 | 0.000 | 1316.758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.80% series contract | 74.730 | 148.437 | 164.200 | 58.967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.75% series contract | 7557.963 | 213.525 | 2031.163 | 5740.325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.70% series contract | 6.713 | 0.000 | 0.000 | 6.713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.65% series contract \* | 5936.030 | 0.000 | 739.099 | 5196.931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.65% series contract | 260.725 | 45.011 | 32.042 | 273.694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.55% series contract | 8845.033 | 167.673 | 268.091 | 8744.615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.50% series contract | 8541.492 | 72.779 | 410.945 | 8203.326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.40% series contract | 34688.194 | 1050.437 | 7753.184 | 27985.447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.25% series contract | 224348.906 | 16352.771 | 33841.734 | 206859.943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.00% series contract | 5520.873 | 340.006 | 223.862 | 5637.017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 2.00% series contract | 1158.163 | 0.000 | 465.750 | 692.413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.80% series contract | 320.257 | 95.927 | 101.340 | 314.844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.75% series contract | 1137.952 | 214.309 | 187.160 | 1165.101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.65% series contract | 2274.517 | 42.040 | 0.156 | 2316.401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.55% series contract | 1550.295 | 40.506 | 92.368 | 1498.433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.50% series contract | 700.958 | 83.607 | 0.080 | 784.485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.25% series contract | 134786.516 | 5903.103 | 23098.815 | 117590.804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.00% series contract | 2164.729 | 159.045 | 481.735 | 1842.039 |
|  Janus Aspen Series: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.80% series contract \*\* | 26.660 | 58.269 | 61.259 | 23.670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.80% series contract | 571.396 | 0.000 | 22.384 | 549.012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.75% series contract | 3139.972 | 55.928 | 380.013 | 2815.887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.70% series contract | 4382.596 | 3.058 | 148.106 | 4237.548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.65% series contract \* | 9.170 | 0.000 | 0.028 | 9.142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.65% series contract | 1328.852 | 0.000 | 71.200 | 1257.652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.55% series contract | 5125.997 | 0.000 | 349.626 | 4776.371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.50% series contract | 2252.130 | 127.122 | 95.154 | 2284.098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.45% series contract | 54.058 | 0.000 | 4.012 | 50.046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.40% series contract | 46322.424 | 619.032 | 3288.184 | 43653.272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.25% series contract | 174667.243 | 6754.918 | 30243.514 | 151178.647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.00% series contract | 2672.010 | 102.184 | 7.335 | 2766.859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 2.00% series contract | 664.251 | 0.000 | 38.316 | 625.935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.80% series contract | 26.315 | 61.470 | 62.811 | 24.974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.75% series contract | 9.048 | 0.000 | 0.028 | 9.020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.65% series contract \* | 3274.360 | 21.280 | 247.580 | 3048.060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.65% series contract | 36.424 | 14.005 | 1.501 | 48.928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.55% series contract | 4098.637 | 100.563 | 14.127 | 4185.073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.50% series contract | 3292.674 | 75.837 | 95.930 | 3272.581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.40% series contract | 14678.348 | 343.133 | 2918.678 | 12102.803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.25% series contract | 106058.032 | 2278.463 | 11773.044 | 96563.451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.00% series contract | 7241.105 | 252.604 | 344.605 | 7149.104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares - 1.70% series contract | 57.825 | 0.000 | 0.088 | 57.737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares - 1.40% series contract | 4383.803 | 26.929 | 473.537 | 3937.195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 2.00% series contract | 13834.257 | 351.704 | 2883.417 | 11302.544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.95% series contract | 1962.306 | 14.868 | 0.000 | 1977.174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.80% series contract | 2594.334 | 94.318 | 0.209 | 2688.443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.75% series contract | 41939.866 | 333.246 | 3178.310 | 39094.802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.70% series contract | 1.358 | 0.000 | 0.000 | 1.358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.65% series contract \* | 112.663 | 0.000 | 0.211 | 112.452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.65% series contract | 357.848 | 50.503 | 8.004 | 400.347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.55% series contract | 24049.465 | 2313.006 | 4223.116 | 22139.355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.50% series contract | 11272.568 | 432.735 | 1222.125 | 10483.178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.45% series contract | 6584.460 | 54.338 | 266.655 | 6372.143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.40% series contract | 74617.064 | 2183.484 | 13203.841 | 63596.707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.25% series contract | 508751.574 | 9934.926 | 43910.715 | 474775.785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.00% series contract | 9890.624 | 77.058 | 1681.073 | 8286.609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 2.00% series contract | 1973.361 | 36.500 | 325.605 | 1684.256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.95% series contract | 370.075 | 1.984 | 0.000 | 372.059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.75% series contract | 1840.308 | 36.865 | 493.455 | 1383.718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.65% series contract \* | 988.009 | 0.000 | 15.332 | 972.677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.65% series contract | 316.906 | 0.000 | 316.906 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.55% series contract | 481.571 | 0.000 | 216.042 | 265.529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.50% series contract | 532.139 | 2.024 | 3.926 | 530.237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.40% series contract | 18566.465 | 297.834 | 2337.303 | 16526.996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.25% series contract | 68361.760 | 3220.434 | 24600.856 | 46981.338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.00% series contract | 268.411 | 0.547 | 220.116 | 48.842 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(6)  **<u>CHANGES IN UNITS OUTSTANDING-Continued</u>** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Units<br>Outstanding<br>1/1/2025** | **Units<br>Purchased** | **Units<br>Redeemed** | **Units<br>Outstanding<br>12/31/2025** |
|  Lincoln Variable Insurance Products Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.75% series contract | 9.880 | 0.000 | 0.031 | 9.849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.70% series contract | 345.500 | 1.900 | 0.000 | 347.400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.65% series contract | 929.104 | 0.000 | 26.634 | 902.470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.55% series contract | 651.005 | 0.000 | 249.074 | 401.931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.50% series contract | 562.751 | 0.000 | 67.672 | 495.079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.40% series contract | 50387.149 | 792.128 | 5526.984 | 45652.293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.25% series contract | 39693.056 | 1783.039 | 5146.404 | 36329.691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II - 1.00% series contract | 817.984 | 9.854 | 649.017 | 178.821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 2.00% series contract | 1024.554 | 0.000 | 59.100 | 965.454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.80% series contract | 37.227 | 82.989 | 87.283 | 32.933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.75% series contract | 9.051 | 0.000 | 0.028 | 9.023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.70% series contract | 1041.044 | 6.564 | 1047.608 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.65% series contract \* | 3447.665 | 30.419 | 302.536 | 3175.548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.65% series contract | 334.462 | 31.203 | 0.000 | 365.665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.55% series contract | 7633.300 | 126.510 | 64.710 | 7695.100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.50% series contract | 3489.590 | 90.911 | 113.449 | 3467.052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.40% series contract | 22556.432 | 418.425 | 4847.817 | 18127.040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.25% series contract | 193853.327 | 5454.556 | 25600.630 | 173707.253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class - 1.00% series contract | 5569.274 | 305.596 | 171.587 | 5703.283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 2.00% series contract | 416.755 | 0.000 | 24.039 | 392.716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.80% series contract | 29.468 | 67.924 | 69.790 | 27.602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.75% series contract | 9.023 | 0.000 | 0.028 | 8.995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.70% series contract | 325.067 | 2.049 | 327.116 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.65% series contract \* | 3011.681 | 27.687 | 309.521 | 2729.847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.65% series contract | 333.170 | 23.060 | 0.001 | 356.229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.55% series contract | 4609.141 | 127.480 | 137.860 | 4598.761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.50% series contract | 3414.958 | 95.624 | 79.587 | 3430.995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class- 1.40% series contract | 11633.917 | 211.136 | 1295.060 | 10549.993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.25% series contract | 115653.996 | 4151.097 | 12302.327 | 107502.766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.00% series contract | 3490.821 | 173.712 | 133.394 | 3531.139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class - 1.70% series contract | 443.584 | 2.797 | 446.381 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class - 1.65% series contract | 59.510 | 0.000 | 4.393 | 55.117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class - 1.40% series contract | 4835.842 | 54.087 | 917.819 | 3972.110 |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.80% series contract | 294.327 | 0.000 | 0.000 | 294.327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.75% series contract | 11.878 | 0.000 | 0.972 | 10.906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.70% series contract | 0.812 | 0.000 | 0.000 | 0.812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.65% series contract \* | 9.063 | 0.000 | 0.027 | 9.036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.65% series contract | 512.913 | 0.000 | 210.350 | 302.563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.55% series contract | 1930.683 | 0.000 | 17.733 | 1912.950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.50% series contract | 2116.111 | 94.196 | 3.995 | 2206.312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.45% series contract | 259.028 | 0.000 | 57.682 | 201.346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.40% series contract | 3447.597 | 86.814 | 769.024 | 2765.387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.25% series contract | 51160.966 | 1586.723 | 9056.945 | 43690.744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.00% series contract | 1854.539 | 5.771 | 1.021 | 1859.289 |
|  Neuberger Berman Advisers Management Trust : |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S - 1.70% series contract | 1451.346 | 10.973 | 848.390 | 613.929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S - 1.40% series contract | 13492.536 | 163.411 | 394.411 | 13261.536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.75% series contract | 1723.706 | 37.185 | 1.267 | 1759.624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.70% series contract | 155.308 | 0.000 | 0.000 | 155.308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.65% series contract | 17.723 | 0.000 | 0.054 | 17.669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.55% series contract | 465.073 | 0.000 | 233.878 | 231.195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.40% series contract | 69640.059 | 714.998 | 13888.380 | 56466.677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.25% series contract | 59001.458 | 1098.243 | 5588.817 | 54510.884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S - 1.00% series contract | 18.616 | 0.000 | 0.069 | 18.547 |
|  PIMCO Variable Insurance Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 2.00% series contract | 396.821 | 0.000 | 22.890 | 373.931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.80% series contract | 332.875 | 67.603 | 69.525 | 330.953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.75% series contract | 9.205 | 0.000 | 0.029 | 9.176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.70% series contract | 192.236 | 1.657 | 4.435 | 189.458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.65% series contract \* | 2595.819 | 6.528 | 335.634 | 2266.713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.65% series contract | 19.806 | 26.143 | 0.001 | 45.948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.55% series contract | 6052.835 | 190.632 | 1323.643 | 4919.824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.50% series contract | 3182.030 | 76.916 | 60.062 | 3198.884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.40% series contract | 14753.322 | 373.985 | 1833.229 | 13294.078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.25% series contract | 101396.362 | 2920.885 | 11836.147 | 92481.100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.00% series contract | 8809.476 | 239.066 | 522.844 | 8525.698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 2.00% series contract | 961.138 | 0.000 | 376.293 | 584.845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.80% series contract | 25.587 | 0.000 | 0.104 | 25.483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.75% series contract | 3545.972 | 141.887 | 213.966 | 3473.893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.70% series contract | 252.243 | 2.909 | 5.008 | 250.144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.65% series contract \* | 1899.357 | 15.229 | 322.982 | 1591.604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.65% series contract | 5821.570 | 0.000 | 128.000 | 5693.570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.55% series contract | 16194.036 | 552.174 | 2989.984 | 13756.226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.50% series contract | 2673.824 | 78.382 | 259.230 | 2492.976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.45% series contract | 1161.564 | 14.487 | 7.603 | 1168.448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.40% series contract | 43422.137 | 1086.195 | 8758.818 | 35749.514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.25% series contract | 166440.204 | 5149.871 | 20121.924 | 151468.151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.00% series contract | 7012.726 | 148.593 | 873.297 | 6288.022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 2.00% series contract | 14244.208 | 358.636 | 3136.994 | 11465.850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.95% series contract | 1152.363 | 10.009 | 0.000 | 1162.372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.80% series contract | 797.895 | 254.513 | 243.842 | 808.566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.75% series contract | 12039.402 | 271.234 | 2821.688 | 9488.948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.70% series contract | 457.431 | 7.561 | 150.536 | 314.456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.65% series contract \* | 10960.705 | 53.664 | 500.326 | 10514.043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.65% series contract | 3209.188 | 109.618 | 73.338 | 3245.468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.55% series contract | 26692.012 | 1481.342 | 3796.122 | 24377.232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.50% series contract | 9679.178 | 331.772 | 883.736 | 9127.214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.45% series contract | 3670.518 | 44.862 | 48.697 | 3666.683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.40% series contract | 67424.342 | 2062.540 | 10579.827 | 58907.055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.25% series contract | 510024.581 | 32249.736 | 73801.999 | 468472.318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.00% series contract | 20060.431 | 615.665 | 7469.492 | 13206.604 |
|  Wilshire Variable Insurance Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.75% series contract | 3543.925 | 0.000 | 355.884 | 3188.041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.70% series contract | 11.021 | 0.000 | 0.000 | 11.021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.65% series contract | 477.522 | 4.603 | 22.875 | 459.250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.55% series contract | 7020.746 | 0.000 | 0.110 | 7020.636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.50% series contract | 5.095 | 0.000 | 0.404 | 4.691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.40% series contract | 61680.508 | 2374.122 | 1897.113 | 62157.517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.25% series contract | 60228.457 | 2459.569 | 17122.044 | 45565.982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.00% series contract | 7128.291 | 1178.434 | 95.007 | 8211.718 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(6)  **<u>CHANGES IN UNITS OUTSTANDING</u>** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Units<br>Outstanding<br>1/1/2024 | Units<br>Purchased | Units<br>Redeemed | Units<br>Outstanding<br>12/31/2024 |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.80% series contract | 976.416 | 46.553 | 0.000 | 1022.969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.75% series contract | 9.171 | 0.000 | 0.030 | 9.141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.65% series contract | 9.177 | 0.000 | 0.030 | 9.147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.55% series contract | 4862.923 | 506.130 | 88.269 | 5280.784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.50% series contract | 1114.121 | 32.358 | 26.128 | 1120.351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.45% series contract | 2154.004 | 27.435 | 434.073 | 1747.366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.25% series contract | 71444.244 | 2957.193 | 5914.779 | 68486.658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B - 1.00% series contract | 1564.804 | 26.748 | 0.707 | 1590.845 |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.80% series contract | 1485.157 | 13.678 | 921.184 | 577.651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.75% series contract | 9.132 | 0.000 | 0.030 | 9.102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.70% series contract | 303.952 | 0.000 | 0.000 | 303.952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.65% series contract \* | 3794.099 | 0.001 | 3784.993 | 9.107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.65% series contract | 3756.066 | 58.467 | 2501.641 | 1312.892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.55% series contract | 3180.210 | 108.768 | 416.928 | 2872.050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.50% series contract | 2538.482 | 24.060 | 821.552 | 1740.990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.45% series contract | 858.682 | 6.012 | 291.002 | 573.692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.40% series contract | 39671.027 | 582.622 | 3188.777 | 37064.872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.25% series contract | 68061.547 | 4197.251 | 7451.684 | 64807.114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares Fund - 1.00% series contract | 1271.027 | 13.174 | 0.314 | 1283.887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 2.00% series contract | 964.743 | 0.000 | 49.288 | 915.455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.80% series contract | 2046.017 | 24.897 | 282.519 | 1788.395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.75% series contract | 30.690 | 0.000 | 0.155 | 30.535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.70% series contract | 76.690 | 0.000 | 0.082 | 76.608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.65% series contract \* | 5764.650 | 13.455 | 2801.994 | 2976.111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.65% series contract | 965.942 | 4.221 | 856.738 | 113.425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.55% series contract | 9900.778 | 226.015 | 822.758 | 9304.035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.50% series contract | 2857.754 | 51.944 | 51.663 | 2858.035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.45% series contract | 3405.698 | 15.496 | 643.003 | 2778.191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.40% series contract | 24670.404 | 992.719 | 1156.477 | 24506.646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.25% series contract | 202583.982 | 4682.735 | 18545.032 | 188721.685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares - 1.00% series contract | 8583.618 | 89.388 | 258.686 | 8414.320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 2.00% series contract | 3948.698 | 87.077 | 156.565 | 3879.210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.95% series contract | 411.886 | 3.805 | 0.000 | 415.691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.75% series contract | 3403.011 | 1.375 | 247.039 | 3157.347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.70% series contract | 458.406 | 0.000 | 0.000 | 458.406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.65% series contract | 14681.518 | 6.703 | 10955.895 | 3732.326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.55% series contract | 1207.518 | 0.000 | 124.608 | 1082.910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.50% series contract | 1438.377 | 15.832 | 4.758 | 1449.451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.40% series contract | 95726.626 | 1602.587 | 8915.072 | 88414.141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.25% series contract | 82514.297 | 4587.507 | 9937.313 | 77164.491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares - 1.00% series contract | 588.696 | 41.114 | 0.264 | 629.546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares - 1.75% series contract | 9.176 | 0.000 | 9.176 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares - 1.70% series contract | 16.935 | 0.000 | 16.935 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares - 1.65% series contract \* | 223.621 | 0.000 | 223.621 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares - 1.65% series contract | 3652.982 | 58.900 | 3711.882 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares - 1.55% series contract | 9.582 | 0.000 | 9.582 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares - 1.40% series contract | 33620.709 | 285.577 | 33906.286 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares - 1.25% series contract | 8188.013 | 27.730 | 8215.743 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares - 1.00% series contract | 8.974 | 0.000 | 8.974 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.80% series contract | 774.845 | 0.000 | 27.616 | 747.229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.70% series contract | 6.505 | 0.000 | 0.000 | 6.505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.65% series contract | 296.886 | 0.000 | 95.508 | 201.378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares - 1.40% series contract | 18190.497 | 1007.902 | 1699.544 | 17498.855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -2.00% series contract | 1654.858 | 0.000 | 84.546 | 1570.312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.80% series contract | 3224.681 | 39.583 | 57.518 | 3206.746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.75% series contract | 55.444 | 0.000 | 0.282 | 55.162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.70% series contract | 400.625 | 0.000 | 0.267 | 400.358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.65% series contract | 1365.906 | 0.000 | 145.338 | 1220.568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.55% series contract | 10628.216 | 196.016 | 455.743 | 10368.489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.50% series contract | 5109.868 | 116.382 | 615.059 | 4611.191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.45% series contract | 4896.923 | 30.492 | 853.067 | 4074.348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.40% series contract | 75392.318 | 855.136 | 7120.659 | 69126.795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.25% series contract | 248496.268 | 3884.222 | 24605.136 | 227775.354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares -1.00% series contract | 8381.572 | 53.290 | 1877.294 | 6557.568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.70% series contract | 127.862 | 4.774 | 0.057 | 132.579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.65% series contract | 1951.324 | 24.579 | 1795.316 | 180.587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares - 1.40% series contract | 13107.200 | 251.560 | 1653.777 | 11704.983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.75% series contract | 0.000 | 11.683 | 0.038 | 11.645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.70% series contract | 0.000 | 29.943 | 0.000 | 29.943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.65% series contract\*\*\* | 297.136 | 6554.822 | 418.970 | 6432.988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.65% series contract | 0.000 | 289.390 | 16.174 | 273.216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.55% series contract | 0.000 | 12.602 | 0.038 | 12.564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.40% series contract | 77592.845 | 62738.710 | 14551.875 | 125779.680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.25% series contract | 0.000 | 10863.485 | 130.972 | 10732.513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares - 1.00% series contract | 0.000 | 12.905 | 0.051 | 12.854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares -1.75% series contract | 22.322 | 0.001 | 5.044 | 17.279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares -1.65% series contract | 1136.473 | 0.000 | 0.029 | 1136.444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares -1.55% series contract | 9.615 | 0.000 | 0.029 | 9.586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares -1.50% series contract | 614.785 | 26.855 | 0.266 | 641.374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares -1.25% series contract | 135875.676 | 12001.202 | 19807.381 | 128069.497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares -1.00% series contract | 1590.699 | 54.504 | 458.073 | 1187.130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.80% series contract | 297.875 | 91.398 | 349.571 | 39.702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.75% series contract | 9.147 | 0.000 | 0.031 | 9.116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.70% series contract | 53.749 | 0.000 | 0.000 | 53.749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.65% series contract \* | 3444.135 | 13.173 | 3173.325 | 283.983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.65% series contract | 21.555 | 12.474 | 23.304 | 10.725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.55% series contract | 2462.933 | 62.080 | 713.133 | 1811.880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.50% series contract | 3341.137 | 240.241 | 186.731 | 3394.647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.40% series contract | 25199.571 | 362.789 | 3275.370 | 22286.990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.25% series contract | 135688.918 | 3274.527 | 9522.467 | 129440.978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares - 1.00% series contract | 3073.469 | 230.072 | 152.347 | 3151.194 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(6) **CHANGES IN UNITS OUTSTANDING-Continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Units<br>Outstanding<br>1/1/2024 | Units<br>Purchased | Units<br>Redeemed | Units<br>Outstanding<br>12/31/2024 |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 2.00% series contract | 726.319 | 0.000 | 37.109 | 689.210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.80% series contract | 1263.299 | 175.764 | 451.686 | 987.377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.75% series contract | 20.687 | 0.000 | 0.097 | 20.590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.65% series contract | 2293.396 | 74.648 | 48.722 | 2319.322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.55% series contract | 9857.549 | 791.741 | 973.601 | 9675.689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.50% series contract | 5118.464 | 584.112 | 278.037 | 5424.539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.45% series contract | 1509.278 | 15.210 | 280.243 | 1244.245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.25% series contract | 253244.054 | 13069.854 | 32036.051 | 234277.857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares - 1.00% series contract | 6234.714 | 523.155 | 308.838 | 6449.031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.70% series contract | 336.039 | 4.423 | 0.000 | 340.462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.65% series contract | 6436.819 | 89.645 | 1275.682 | 5250.782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares - 1.40% series contract | 30696.636 | 812.504 | 1603.704 | 29905.436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares - 1.70% series contract | 99.100 | 1.228 | 0.001 | 100.327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares - 1.65% series contract | 1561.252 | 0.000 | 1561.252 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares - 1.40% series contract | 20117.303 | 718.969 | 1733.926 | 19102.346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 9.143 | 0.000 | 0.030 | 9.113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.65% series contract \* | 609.565 | 0.000 | 0.030 | 609.535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.65% series contract | 1197.338 | 70.982 | 0.000 | 1268.320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 9.546 | 0.000 | 0.029 | 9.517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 41033.329 | 409.849 | 2652.843 | 38790.335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 68393.717 | 4020.859 | 9200.053 | 63214.523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 453.793 | 25.682 | 0.159 | 479.316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 2.00% series contract | 2528.625 | 75.496 | 102.761 | 2501.360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.95% series contract | 389.057 | 3.647 | 0.000 | 392.704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.80% series contract | 240.971 | 0.000 | 240.971 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 2173.294 | 62.444 | 119.775 | 2115.963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract \* | 9.124 | 0.000 | 0.030 | 9.094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract | 805.395 | 0.000 | 805.395 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 2972.859 | 66.496 | 0.029 | 3039.326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.50% series contract | 1582.987 | 21.637 | 0.164 | 1604.460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 11195.501 | 96.448 | 829.858 | 10462.091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 59477.157 | 5112.419 | 8312.609 | 56276.967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 675.099 | 5.524 | 334.695 | 345.928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.80% series contract | 1562.699 | 0.000 | 1562.699 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.75% series contract | 9.081 | 0.000 | 0.029 | 9.052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.70% series contract | 438.090 | 4.064 | 5.946 | 436.208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract \* | 109.551 | 0.000 | 5.872 | 103.679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.65% series contract | 365.942 | 64.230 | 66.277 | 363.895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.55% series contract | 454.504 | 0.000 | 17.894 | 436.610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.50% series contract | 1696.372 | 18.236 | 771.597 | 943.011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.40% series contract | 42170.203 | 992.386 | 2276.251 | 40886.338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.25% series contract | 51988.587 | 7252.530 | 8702.252 | 50538.865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares - 1.00% series contract | 476.821 | 89.642 | 538.263 | 28.200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 2.00% series contract | 590.699 | 0.000 | 30.178 | 560.521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.80% series contract | 29.851 | 63.857 | 67.612 | 26.096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.75% series contract | 16.179 | 0.001 | 3.237 | 12.943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.70% series contract | 607.983 | 0.000 | 15.467 | 592.516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.65% series contract \* | 2283.656 | 21.272 | 23.550 | 2281.378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.65% series contract | 40.294 | 25.807 | 47.774 | 18.327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.55% series contract | 3337.939 | 70.816 | 395.186 | 3013.569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.50% series contract | 2706.889 | 185.761 | 129.970 | 2762.680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.45% series contract | 971.490 | 21.636 | 0.000 | 993.126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.40% series contract | 24846.605 | 663.671 | 3715.491 | 21794.785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.25% series contract | 109705.400 | 5967.112 | 9336.374 | 106336.138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares - 1.00% series contract | 3317.857 | 162.019 | 353.454 | 3126.422 |
|  ALPS Variable Investment Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 2.00% series contract | 1971.902 | 0.000 | 0.000 | 1971.902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.80% series contract | 717.148 | 0.000 | 0.000 | 717.148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 289.252 | 0.000 | 14.311 | 274.941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.70% series contract | 20.656 | 0.000 | 0.000 | 20.656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 33564.268 | 0.000 | 460.298 | 33103.970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 1032.107 | 0.000 | 911.816 | 120.291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 55609.848 | 102.694 | 12223.713 | 43488.829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 11110.106 | 67.741 | 8586.667 | 2591.180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 52101.675 | 2063.405 | 4707.236 | 49457.844 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 399488.360 | 15710.715 | 44323.565 | 370875.510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 11454.759 | 14609.671 | 1237.155 | 24827.275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II -1.75% series contract | 7786.837 | 0.000 | 219.448 | 7567.389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II -1.65% series contract \* | 1177.658 | 0.000 | 66.289 | 1111.369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II -1.65% series contract | 1810.905 | 92.778 | 15.674 | 1888.009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II -1.55% series contract | 9252.271 | 253.302 | 66.202 | 9439.371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II -1.45% series contract | 8537.457 | 124.071 | 520.270 | 8141.258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II -1.40% series contract | 2966.762 | 158.030 | 0.116 | 3124.676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II -1.25% series contract | 127162.455 | 2008.116 | 46855.246 | 82315.325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II -1.00% series contract | 18755.447 | 1314.189 | 20039.931 | 29.705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 9.151 | 0.000 | 0.030 | 9.121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.70% series contract | 15.737 | 0.000 | 0.000 | 15.737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 38691.756 | 0.000 | 6121.250 | 32570.506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 1301.410 | 0.000 | 72.244 | 1229.166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 99190.084 | 2224.623 | 13977.143 | 87437.564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.50% series contract | 16990.637 | 1497.433 | 8500.050 | 9988.020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 27295.088 | 98.663 | 1796.366 | 25597.385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 15126.763 | 872.951 | 253.171 | 15746.543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 850411.511 | 25878.659 | 90005.506 | 786284.664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 1058.091 | 0.000 | 515.490 | 542.601 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(6) **CHANGES IN UNITS OUTSTANDING-Continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Units<br>Outstanding<br>1/1/2024 | Units Purchased | Units<br>Redeemed | Units<br>Outstanding<br>12/31/2024 |
|  ALPS Variable Investment Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 2.00% series contract | 1974.140 | 0.000 | 0.000 | 1974.140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.75% series contract | 6389.964 | 146.591 | 671.012 | 5865.543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract \* | 29641.669 | 68.455 | 1068.717 | 28641.407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.65% series contract | 6.921 | 0.000 | 0.117 | 6.804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.55% series contract | 7186.454 | 265.855 | 96.785 | 7355.524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.50% series contract | 1540.293 | 6.926 | 83.774 | 1463.445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.45% series contract | 19515.589 | 98.684 | 372.687 | 19241.586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.40% series contract | 16910.441 | 0.002 | 11024.100 | 5886.343 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.25% series contract | 209113.237 | 3027.934 | 24361.917 | 187779.254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II - 1.00% series contract | 399.084 | 0.071 | 169.132 | 230.023 |
|  BNY Mellon Investment Portfolios: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.75% series contract | 9.112 | 0.000 | 0.029 | 9.083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.65% series contract \* | 3332.544 | 0.000 | 3323.455 | 9.089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.65% series contract | 10.338 | 0.233 | 0.245 | 10.326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.55% series contract | 27.441 | 0.000 | 0.029 | 27.412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.50% series contract | 676.942 | 0.000 | 0.000 | 676.942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.40% series contract | 432.312 | 222.551 | 65.685 | 589.178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.25% series contract | 7501.880 | 156.077 | 590.421 | 7067.536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares - 1.00% series contract | 252.673 | 34.161 | 0.674 | 286.160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.70% series contract | 8.143 | 0.000 | 0.000 | 8.143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.65% series contract | 1745.479 | 0.000 | 1715.288 | 30.191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares - 1.40% series contract | 10689.283 | 613.881 | 371.406 | 10931.758 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 2.00% series contract | 4904.908 | 124.415 | 187.204 | 4842.119 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.95% series contract | 661.678 | 5.793 | 0.000 | 667.471 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.80% series contract \*\* | 1371.706 | 69.114 | 48.688 | 1392.132 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.80% series contract | 578.328 | 0.000 | 20.589 | 557.739 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.75% series contract | 5780.736 | 115.266 | 246.334 | 5649.668 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.70% series contract | 234.280 | 0.000 | 0.000 | 234.280 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.65% series contract \* | 2142.207 | 13.864 | 29.569 | 2126.502 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.65% series contract | 1961.386 | 15.332 | 48.816 | 1927.902 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.55% series contract | 12607.258 | 1191.938 | 732.309 | 13066.887 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.50% series contract | 6422.957 | 140.217 | 128.635 | 6434.539 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.45% series contract | 12839.584 | 1411.835 | 778.292 | 13473.127 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.40% series contract | 240806.753 | 3111.284 | 16085.113 | 227832.924 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.25% series contract | 373649.015 | 4613.227 | 47305.095 | 330957.147 |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares - 1.00% series contract | 11788.599 | 622.895 | 1261.814 | 11149.680 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.80% series contract | 338.147 | 0.000 | 0.000 | 338.147 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.75% series contract | 9.094 | 0.000 | 0.030 | 9.064 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.70% series contract | 142.371 | 0.000 | 0.000 | 142.371 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.65% series contract | 9.098 | 0.000 | 0.029 | 9.069 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.55% series contract | 99.977 | 0.000 | 60.761 | 39.216 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.40% series contract | 15292.827 | 102.976 | 412.832 | 14982.971 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.25% series contract | 24085.422 | 455.623 | 4476.868 | 20064.177 |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares - 1.00% series contract | 647.490 | 457.644 | 0.131 | 1105.003 |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.80% series contract | 622.711 | 0.000 | 22.186 | 600.525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.70% series contract | 273.833 | 8.041 | 0.088 | 281.786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.65% series contract | 721.809 | 10.148 | 44.476 | 687.481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares - 1.40% series contract | 15405.624 | 130.211 | 478.267 | 15057.568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 2.00% series contract | 30325.001 | 979.854 | 1490.616 | 29814.239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.80% series contract | 92.472 | 0.000 | 0.439 | 92.033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.75% series contract | 37614.758 | 492.276 | 2466.193 | 35640.841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.70% series contract | 11580.089 | 38620.001 | 0.921 | 50199.169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.65% series contract \* | 15948.053 | 0.000 | 0.736 | 15947.317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.65% series contract | 97063.552 | 10495.316 | 33597.660 | 73961.208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.55% series contract | 111230.226 | 188055.976 | 9865.625 | 289420.577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.50% series contract | 181806.429 | 2214.395 | 169232.465 | 14788.359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.45% series contract | 414.617 | 0.000 | 0.637 | 413.980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.40% series contract | 1018235.357 | 2783639.403 | 233209.120 | 3568665.640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.25% series contract | 1271573.646 | 429145.427 | 235623.199 | 1465095.874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio - 1.00% series contract | 54841.183 | 2464.306 | 13532.069 | 43773.420 |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.75% series contract | 37.507 | 0.000 | 13.301 | 24.206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.65% series contract \* | 317.519 | 0.000 | 12.671 | 304.848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.65% series contract | 642.227 | 368.015 | 145.949 | 864.293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.55% series contract | 1869.066 | 0.000 | 46.039 | 1823.027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.50% series contract | 1471.833 | 192.993 | 0.005 | 1664.821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.40% series contract | 8120.361 | 96.460 | 1409.009 | 6807.812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.25% series contract | 42506.298 | 1140.814 | 2604.250 | 41042.862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio - 1.00% series contract | 2172.195 | 0.000 | 0.043 | 2172.152 |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.80% series contract | 1784.343 | 40.870 | 0.195 | 1825.018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.75% series contract | 47.416 | 0.000 | 0.253 | 47.163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.65% series contract \* | 230.891 | 0.000 | 12.927 | 217.964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.65% series contract | 1033.967 | 68.750 | 569.898 | 532.819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.55% series contract | 10337.093 | 276.764 | 763.756 | 9850.101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.50% series contract | 4394.338 | 92.665 | 64.626 | 4422.377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.45% series contract | 5245.168 | 28.731 | 889.361 | 4384.538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.40% series contract | 15222.988 | 282.111 | 1748.685 | 13756.414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.25% series contract | 239672.669 | 2938.588 | 24172.635 | 218438.622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio - 1.00% series contract | 8117.125 | 99.149 | 501.638 | 7714.636 |
|  Deutsche DWS Variable Series II: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A - 2.00% series contract | 33.176 | 0.000 | 4.961 | 28.215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A - 1.75% series contract | 9.172 | 0.000 | 0.031 | 9.141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A - 1.65% series contract | 9.176 | 0.000 | 0.030 | 9.146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A - 1.55% series contract | 9.577 | 0.000 | 0.029 | 9.548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A - 1.25% series contract | 14367.054 | 437.715 | 839.532 | 13965.237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A - 1.00% series contract | 8.969 | 0.000 | 0.035 | 8.934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.75% series contract | 9.207 | 0.000 | 0.031 | 9.176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.65% series contract | 9.212 | 0.000 | 0.030 | 9.182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.55% series contract | 1348.524 | 99.221 | 410.821 | 1036.924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.50% series contract | 553.989 | 28.677 | 5.999 | 576.667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.25% series contract | 14855.087 | 1022.748 | 197.930 | 15679.905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B - 1.00% series contract | 264.518 | 0.000 | 0.360 | 264.158 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(6) **CHANGES IN UNITS OUTSTANDING-Continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Units<br>Outstanding<br>1/1/2024 | Units<br>Purchased | Units<br>Redeemed | Units<br>Outstanding<br>12/31/2024 |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.80% series contract | 190.929 | 0.000 | 190.929 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.75% series contract | 54.796 | 0.000 | 45.564 | 9.232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.65% series contract | 1798.382 | 18.388 | 0.168 | 1816.602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.55% series contract | 250.325 | 0.000 | 0.255 | 250.070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.50% series contract | 1502.490 | 76.128 | 717.361 | 861.257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.25% series contract | 53704.222 | 1553.838 | 3596.712 | 51661.348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 - 1.00% series contract | 978.555 | 58.588 | 215.158 | 821.985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.75% series contract | 9.144 | 0.000 | 0.031 | 9.113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.65% series contract | 335.986 | 0.000 | 12.810 | 323.176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.55% series contract | 2912.722 | 77.598 | 0.032 | 2990.288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.50% series contract | 410.658 | 2.473 | 0.646 | 412.485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.25% series contract | 71126.125 | 1549.335 | 9243.976 | 63431.484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 - 1.00% series contract | 65.420 | 0.000 | 0.247 | 65.173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 2.00% series contract | 1343.361 | 40.871 | 53.687 | 1330.545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.95% series contract | 173.625 | 1.700 | 0.000 | 175.325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.75% series contract | 1607.258 | 47.627 | 131.622 | 1523.263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.65% series contract | 239.534 | 0.000 | 0.030 | 239.504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.55% series contract | 1558.931 | 0.000 | 0.328 | 1558.603 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.50% series contract | 948.211 | 1.589 | 163.511 | 786.289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.25% series contract | 25466.259 | 745.055 | 2718.244 | 23493.070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 - 1.00% series contract | 230.047 | 18.859 | 0.496 | 248.410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 2.00% series contract | 6559.058 | 157.516 | 250.280 | 6466.294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.95% series contract | 408.970 | 4.670 | 0.000 | 413.640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.80% series contract | 573.243 | 0.000 | 230.514 | 342.729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.75% series contract | 9165.052 | 344.006 | 577.694 | 8931.364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.65% series contract | 9.236 | 0.000 | 0.030 | 9.206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.55% series contract | 2256.933 | 0.000 | 0.030 | 2256.903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.50% series contract | 572.033 | 2.225 | 0.570 | 573.688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.45% series contract | 67.646 | 0.000 | 0.104 | 67.542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.25% series contract | 61700.543 | 1462.747 | 8218.219 | 54945.071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 - 1.00% series contract | 3464.041 | 74.474 | 999.314 | 2539.201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 2.00% series contract | 9907.969 | 243.671 | 380.870 | 9770.770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.95% series contract | 1293.959 | 12.978 | 0.000 | 1306.937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.80% series contract | 3052.666 | 164.286 | 3142.222 | 74.730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.75% series contract | 7785.490 | 234.180 | 461.707 | 7557.963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.70% series contract | 6.713 | 0.000 | 0.000 | 6.713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.65% series contract \* | 5867.473 | 81.643 | 13.086 | 5936.030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.65% series contract | 273.974 | 79.760 | 93.009 | 260.725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.55% series contract | 9234.660 | 331.294 | 720.921 | 8845.033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.50% series contract | 7991.135 | 699.545 | 149.188 | 8541.492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.40% series contract | 35884.098 | 1439.470 | 2635.374 | 34688.194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.25% series contract | 234142.806 | 17796.419 | 27590.319 | 224348.906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 - 1.00% series contract | 5311.962 | 402.762 | 193.851 | 5520.873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 2.00% series contract | 1198.741 | 0.000 | 40.578 | 1158.163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.80% series contract | 506.527 | 105.193 | 291.463 | 320.257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.75% series contract | 1292.774 | 217.486 | 372.308 | 1137.952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.65% series contract | 2230.135 | 44.547 | 0.165 | 2274.517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.55% series contract | 1733.943 | 149.989 | 333.637 | 1550.295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.50% series contract | 615.984 | 85.177 | 0.203 | 700.958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.25% series contract | 146318.842 | 10049.408 | 21581.734 | 134786.516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 - 1.00% series contract | 2017.377 | 200.522 | 53.170 | 2164.729 |
|  Janus Aspen Series: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.80% series contract \*\* | 480.535 | 62.572 | 516.447 | 26.660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.80% series contract | 592.546 | 0.000 | 21.150 | 571.396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.75% series contract | 3786.318 | 0.002 | 646.348 | 3139.972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.70% series contract | 4514.472 | 4.401 | 136.277 | 4382.596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.65% series contract \* | 6406.951 | 0.000 | 6397.781 | 9.170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.65% series contract | 1447.466 | 0.000 | 118.614 | 1328.852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.55% series contract | 5524.273 | 251.454 | 649.730 | 5125.997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.50% series contract | 3682.435 | 140.004 | 1570.309 | 2252.130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.45% series contract | 59.378 | 0.000 | 5.320 | 54.058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.40% series contract | 52562.884 | 1116.227 | 7356.687 | 46322.424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.25% series contract | 173382.811 | 14299.763 | 13015.331 | 174667.243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares - 1.00% series contract | 2626.749 | 138.990 | 93.729 | 2672.010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 2.00% series contract | 700.014 | 0.000 | 35.763 | 664.251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.80% series contract | 29.415 | 63.219 | 66.319 | 26.315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.75% series contract | 9.078 | 0.000 | 0.030 | 9.048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.65% series contract \* | 3276.050 | 17.490 | 19.180 | 3274.360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.65% series contract | 50.958 | 15.361 | 29.895 | 36.424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.55% series contract | 4490.983 | 78.186 | 470.532 | 4098.637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.50% series contract | 3221.564 | 186.841 | 115.731 | 3292.674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.40% series contract | 15525.999 | 545.333 | 1392.984 | 14678.348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.25% series contract | 116637.037 | 2879.833 | 13458.838 | 106058.032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares - 1.00% series contract | 7492.055 | 294.531 | 545.481 | 7241.105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares -1.70% series contract | 57.918 | 0.000 | 0.093 | 57.825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares -1.40% series contract | 4496.658 | 31.595 | 144.450 | 4383.803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 2.00% series contract | 13968.993 | 420.230 | 554.966 | 13834.257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.95% series contract | 1942.513 | 19.792 | -0.001 | 1962.306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.80% series contract | 2490.515 | 104.063 | 0.244 | 2594.334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.75% series contract | 42269.530 | 369.237 | 698.901 | 41939.866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.70% series contract | 1.358 | 0.000 | 0.000 | 1.358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.65% series contract \* | 112.885 | 0.000 | 0.222 | 112.663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.65% series contract | 596.884 | 68.225 | 307.261 | 357.848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.55% series contract | 23057.254 | 1372.668 | 380.457 | 24049.465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.50% series contract | 13056.316 | 502.144 | 2285.892 | 11272.568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.45% series contract | 7682.425 | 77.066 | 1175.031 | 6584.460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.40% series contract | 76938.455 | 2654.656 | 4976.047 | 74617.064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.25% series contract | 547736.252 | 13526.763 | 52511.441 | 508751.574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares - 1.00% series contract | 10916.891 | 86.900 | 1113.167 | 9890.624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 2.00% series contract | 2004.891 | 46.520 | 78.050 | 1973.361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.95% series contract | 367.311 | 2.763 | -0.001 | 370.075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.75% series contract | 1907.038 | 44.425 | 111.155 | 1840.308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.65% series contract \* | 3481.200 | 0.000 | 2493.191 | 988.009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.65% series contract | 622.400 | 0.000 | 305.494 | 316.906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.55% series contract | 9.544 | 478.319 | 6.292 | 481.571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.50% series contract | 564.015 | 2.355 | 34.231 | 532.139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.40% series contract | 18339.337 | 712.062 | 484.934 | 18566.465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.25% series contract | 85257.737 | 2299.070 | 19195.047 | 68361.760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares - 1.00% series contract | 436.620 | 0.247 | 168.456 | 268.411 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(6) **CHANGES IN UNITS OUTSTANDING-Continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Units<br>Outstanding<br>1/1/2024 | Units<br>Purchased | Units<br>Redeemed | Units<br>Outstanding<br>12/31/2024 |
|  Lincoln Variable Insurance Products Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II -1.75% series contract | 82.170 | 0.000 | 72.290 | 9.880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II -1.70% series contract | 343.351 | 2.149 | 0.000 | 345.500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II -1.65% series contract | 7054.104 | 0.000 | 6125.000 | 929.104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II -1.55% series contract | 651.310 | 0.000 | 0.305 | 651.005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II -1.50% series contract | 563.012 | 0.000 | 0.261 | 562.751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II -1.40% series contract | 50996.931 | 1757.705 | 2367.487 | 50387.149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II -1.25% series contract | 41644.649 | 2629.991 | 4581.584 | 39693.056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II -1.00% series contract | 654.492 | 163.532 | 0.040 | 817.984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -2.00% series contract | 1079.716 | 0.000 | 55.162 | 1024.554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.80% series contract | 2069.920 | 88.715 | 2121.408 | 37.227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.75% series contract | 9.081 | 0.000 | 0.030 | 9.051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.70% series contract | 949.202 | 114.707 | 22.865 | 1041.044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.65% series contract \* | 3428.714 | 29.000 | 10.049 | 3447.665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.65% series contract | 364.094 | 36.744 | 66.376 | 334.462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.55% series contract | 7985.632 | 111.548 | 463.880 | 7633.300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.50% series contract | 3387.364 | 242.364 | 140.138 | 3489.590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.40% series contract | 25740.056 | 755.950 | 3939.574 | 22556.432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.25% series contract | 211650.564 | 6270.329 | 24067.566 | 193853.327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class -1.00% series contract | 5361.763 | 366.406 | 158.895 | 5569.274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 2.00% series contract | 439.194 | 0.000 | 22.439 | 416.755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.80% series contract | 785.565 | 70.715 | 826.812 | 29.468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.75% series contract | 9.053 | 0.000 | 0.030 | 9.023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.70% series contract | 293.341 | 38.793 | 7.067 | 325.067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.65% series contract \* | 3000.396 | 29.215 | 17.930 | 3011.681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.65% series contract | 354.242 | 26.499 | 47.571 | 333.170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.55% series contract | 5094.641 | 171.642 | 657.142 | 4609.141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.50% series contract | 3287.758 | 235.463 | 108.263 | 3414.958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class- 1.40% series contract | 12703.353 | 446.420 | 1515.856 | 11633.917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.25% series contract | 119258.064 | 4285.878 | 7889.946 | 115653.996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class - 1.00% series contract | 3493.781 | 198.527 | 201.487 | 3490.821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class - 1.70% series contract | 518.931 | 0.000 | 75.347 | 443.584 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class - 1.65% series contract | 63.970 | 0.000 | 4.460 | 59.510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class - 1.40% series contract | 5506.441 | 438.545 | 1109.144 | 4835.842 |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.80% series contract | 294.327 | 0.000 | 0.000 | 294.327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.75% series contract | 16.063 | 0.001 | 4.186 | 11.878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.70% series contract | 0.812 | 0.000 | 0.000 | 0.812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.65% series contract \* | 9.093 | 0.000 | 0.030 | 9.063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.65% series contract | 1664.363 | 0.000 | 1151.450 | 512.913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.55% series contract | 2003.664 | 0.000 | 72.981 | 1930.683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.50% series contract | 2914.677 | 135.790 | 934.356 | 2116.111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.45% series contract | 261.880 | 0.000 | 2.852 | 259.028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.40% series contract | 3866.471 | 200.954 | 619.828 | 3447.597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.25% series contract | 58460.270 | 1738.937 | 9038.241 | 51160.966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I - 1.00% series contract | 1733.338 | 122.058 | 0.857 | 1854.539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Real Estate Portfolio - Class I - 1.70% series contract | 808.785 | 7.295 | 816.080 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Real Estate Portfolio - Class I - 1.65% series contract | 947.498 | 72.054 | 1019.552 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Real Estate Portfolio - Class I - 1.40% series contract | 65564.074 | 916.260 | 66480.334 | 0.000 |
|  Neuberger Berman Advisers Management Trust : |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S - 1.70% series contract | 1493.928 | 11.898 | 54.480 | 1451.346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S - 1.40% series contract | 13725.892 | 187.133 | 420.489 | 13492.536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S - 1.75% series contract | 1647.393 | 77.652 | 1.339 | 1723.706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S - 1.70% series contract | 155.308 | 0.000 | 0.000 | 155.308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S - 1.65% series contract | 5827.016 | 0.000 | 5809.293 | 17.723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S - 1.55% series contract | 1008.207 | 117.936 | 661.070 | 465.073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S - 1.40% series contract | 78648.089 | 1276.276 | 10284.306 | 69640.059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S - 1.25% series contract | 61019.648 | 6549.248 | 8567.438 | 59001.458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S - 1.00% series contract | 18.691 | 0.000 | 0.075 | 18.616 |
|  PIMCO Variable Insurance Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 2.00% series contract | 418.186 | 0.000 | 21.365 | 396.821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.80% series contract | 546.358 | 70.191 | 283.674 | 332.875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.75% series contract | 9.234 | 0.001 | 0.030 | 9.205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.70% series contract | 190.479 | 1.757 | 0.000 | 192.236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.65% series contract \* | 2582.030 | 28.270 | 14.481 | 2595.819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.65% series contract | 39.302 | 30.014 | 49.510 | 19.806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.55% series contract | 6207.983 | 274.775 | 429.923 | 6052.835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.50% series contract | 2984.401 | 296.290 | 98.661 | 3182.030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.40% series contract | 17490.496 | 379.337 | 3116.511 | 14753.322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.25% series contract | 109498.530 | 6129.447 | 14231.615 | 101396.362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class - 1.00% series contract | 8696.574 | 316.555 | 203.653 | 8809.476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 2.00% series contract | 1000.955 | 0.002 | 39.819 | 961.138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.80% series contract | 1593.484 | 0.000 | 1567.897 | 25.587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.75% series contract | 3626.262 | 204.634 | 284.924 | 3545.972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.70% series contract | 249.225 | 3.017 | -0.001 | 252.243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.65% series contract \* | 1866.157 | 38.923 | 5.723 | 1899.357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.65% series contract | 6925.893 | 0.000 | 1104.323 | 5821.570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.55% series contract | 15908.880 | 632.007 | 346.851 | 16194.036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.50% series contract | 2452.297 | 245.785 | 24.258 | 2673.824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.45% series contract | 1150.648 | 15.077 | 4.161 | 1161.564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.40% series contract | 44773.592 | 1637.441 | 2988.896 | 43422.137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.25% series contract | 184477.509 | 6143.663 | 24180.968 | 166440.204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class - 1.00% series contract | 7499.119 | 190.300 | 676.693 | 7012.726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 2.00% series contract | 14404.619 | 388.951 | 549.362 | 14244.208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.95% series contract | 1139.621 | 12.744 | 0.002 | 1152.363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.80% series contract | 2847.345 | 258.794 | 2308.244 | 797.895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.75% series contract | 13018.330 | 282.980 | 1261.908 | 12039.402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.70% series contract | 449.519 | 7.995 | 0.083 | 457.431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.65% series contract \* | 10890.564 | 81.981 | 11.840 | 10960.705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.65% series contract | 3195.787 | 156.013 | 142.612 | 3209.188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.55% series contract | 26097.765 | 1763.526 | 1169.279 | 26692.012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.50% series contract | 9855.226 | 653.909 | 829.957 | 9679.178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.45% series contract | 3771.883 | 49.570 | 150.935 | 3670.518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.40% series contract | 75037.109 | 2859.060 | 10471.827 | 67424.342 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.25% series contract | 552003.960 | 20303.274 | 62282.653 | 510024.581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class - 1.00% series contract | 20659.264 | 759.647 | 1358.480 | 20060.431 |
|  Rydex Variable Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guggenheim Long Short Equity Fund - 1.70% series contract | 179.394 | 1.884 | 181.278 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guggenheim Long Short Equity Fund - 1.65% series contract | 209.245 | 0.000 | 209.245 | 0.000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guggenheim Long Short Equity Fund - 1.40% series contract | 17991.618 | 636.654 | 18628.272 | 0.000 |
|  Wilshire Variable Insurance Trust: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.75% series contract | 3693.621 | 29.879 | 179.575 | 3543.925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.70% series contract | 11.021 | 0.000 | 0.000 | 11.021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.65% series contract | 484.388 | 13.887 | 20.753 | 477.522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.55% series contract | 7020.865 | 0.000 | 0.119 | 7020.746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.50% series contract | 5.531 | 0.000 | 0.436 | 5.095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.40% series contract | 64310.615 | 3482.842 | 6112.949 | 61680.508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.25% series contract | 71874.803 | 2995.416 | 14641.762 | 60228.457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund - 1.00% series contract | 8405.413 | 934.211 | 2211.333 | 7128.291 |

---

\* Unit value commencement date May 1, 2008

\*\* Unit value commencement date May 1, 2009

\*\*\* Unit value commencement date April 30, 2021

Contracts that do not have specific footnotes commenced at the establishment of the fund.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS – CONTINUED** 

(7)  **<u>UNIT VALUES AND FINANCIAL HIGHLIGHTS</u>** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | At December 31, 2025 | At December 31, 2025 | At December 31, 2025 | At December 31, 2025 | Year Ended December 31, 2025 | Year Ended December 31, 2025 | Year Ended December 31, 2025 | Year Ended December 31, 2025 | Year Ended December 31, 2025 |
| Subaccount | Units<br>(000s) | Unit Value<br>Range | Unit Value<br>Range | Net Assets<br>(000s) | Investment<br>Income Ratio (1) | Expenses Ratio<br>Range (2) | Expenses Ratio<br>Range (2) | Total Return<br>Range (3) | Total Return<br>Range (3) |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | 71 | $9.877365 | $11.396032 | $774 | 2.32% | 1.00% | 1.80% | 38.73% | 39.86% |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares | 97 | 38.475524 | 44.389136 | 5386 | 0.44% | 1.00% | 1.80% | 18.83% | 19.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 159 | 34.423807 | 39.960001 | 6022 | 1.63% | 1.00% | 2.00% | 15.10% | 16.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | 16 | 36.843607 | 39.912468 | 635 | 0.65% | 1.40% | 1.80% | 14.08% | 14.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Large Cap Fund-Series II Shares | 225 | 39.928343 | 47.756419 | 10764 | 0.00% | 1.00% | 2.00% | 10.28% | 11.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | 305 | 15.515289 | 16.435923 | 4920 | 0.00% | 1.00% | 2.00% | 2.44% | 3.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 11 | 30.973346 | 32.389472 | 352 | 1.55% | 1.40% | 1.70% | 13.77% | 14.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 126 | 11.734795 | 11.886085 | 1579 | 1.82% | 1.00% | 1.75% | 10.55% | 11.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | 127 | 15.488265 | 17.718573 | 2149 | 1.24% | 1.00% | 1.75% | 14.20% | 15.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | 146 | 30.332982 | 34.995519 | 5526 | 0.00% | 1.00% | 1.80% | 12.94% | 13.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 245 | 10.081950 | 12.059434 | 2818 | 1.77% | 1.00% | 2.00% | 5.46% | 6.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 35 | 11.906042 | 12.784398 | 442 | 2.91% | 1.40% | 1.70% | 5.14% | 5.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | 17 | 43.586522 | 46.802253 | 804 | 0.00% | 1.40% | 1.70% | 13.37% | 13.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | 88 | 39.095945 | 44.724279 | 3975 | 0.31% | 1.00% | 1.75% | 13.62% | 14.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | 65 | 23.718650 | 28.369841 | 1899 | 0.10% | 1.00% | 2.00% | 6.79% | 7.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | 78 | 36.754567 | 42.046459 | 4173 | 0.22% | 1.00% | 1.75% | 6.54% | 7.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | 131 | 29.270356 | 35.010284 | 4292 | 0.00% | 1.00% | 2.00% | 5.89% | 6.97% |
|  ALPS Variable Investment Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 468 | 18.205387 | 21.774956 | 9653 | 1.82% | 1.00% | 2.00% | 12.52% | 13.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 83 | 12.535011 | 14.339703 | 1121 | 2.30% | 1.00% | 1.75% | 6.92% | 7.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 882 | 22.438044 | 25.668425 | 21481 | 1.43% | 1.00% | 1.75% | 15.85% | 16.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 243 | 14.911990 | 17.835867 | 4078 | 2.23% | 1.00% | 2.00% | 9.47% | 10.59% |
|  BNY Mellon Investment Portfolios: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | 9 | 30.399014 | 34.776054 | 288 | 0.42% | 1.00% | 1.75% | 7.89% | 8.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | 9 | 83.664741 | 89.214309 | 840 | 0.00% | 1.40% | 1.70% | 25.99% | 26.37% |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | 545 | 44.570096 | 53.307812 | 32723 | 0.76% | 1.00% | 2.00% | 14.90% | 16.07% |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | 35 | 44.087255 | 50.862462 | 1911 | 0.06% | 1.00% | 1.80% | 13.59% | 14.52% |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | 16 | 50.466877 | 55.495054 | 892 | 0.16% | 1.40% | 1.80% | 7.81% | 8.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 4979 | 0.837093 | 1.012983 | 4928 | 3.83% | 1.00% | 2.00% | 2.26% | 2.89% |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio | 49 | 33.507650 | 38.331157 | 1758 | 0.30% | 1.00% | 1.75% | 15.34% | 16.22% |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio | 235 | 33.640794 | 38.811108 | 8662 | 1.01% | 1.00% | 1.80% | 24.96% | 25.97% |
|  Deutsche DWS Variable Series II: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Opportunities VIP-Class A | 14 | 15.380491 | 18.396930 | 238 | 0.94% | 1.00% | 2.00% | 16.54% | 17.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | 18 | 24.509586 | 27.615049 | 481 | 0.54% | 1.00% | 1.75% | 15.79% | 16.67% |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | 54 | 32.440070 | 36.828770 | 1902 | 1.91% | 1.00% | 1.75% | 21.18% | 22.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 59 | 20.966606 | 23.985334 | 1359 | 1.95% | 1.00% | 1.75% | 9.57% | 10.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | 28 | 42.696040 | 50.576400 | 1321 | 1.04% | 1.00% | 2.00% | 5.50% | 6.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 69 | 9.782683 | 11.700836 | 754 | 3.37% | 1.00% | 2.00% | 4.56% | 5.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 278 | 12.222554 | 14.619558 | 3848 | 2.41% | 1.00% | 2.00% | 26.61% | 27.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | 126 | 10.317384 | 12.222113 | 1474 | 0.00% | 1.00% | 2.00% | 13.42% | 14.57% |
|  Janus Aspen Series: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 214 | 31.567367 | 36.418399 | 8177 | 1.63% | 1.00% | 1.80% | 12.76% | 13.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | 127 | 41.225683 | 49.309169 | 6653 | 0.05% | 1.00% | 2.00% | 5.27% | 6.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | 4 | 43.901717 | 47.141114 | 188 | 0.43% | 1.40% | 1.70% | 18.55% | 18.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | 641 | 12.212520 | 14.608108 | 10148 | 1.33% | 1.00% | 2.00% | 26.01% | 27.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | 69 | 50.860180 | 60.831042 | 4423 | 0.00% | 1.00% | 2.00% | 15.74% | 16.92% |
|  Lincoln Variable Insurance Products Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II | 84 | 26.762641 | 29.252881 | 2369 | 0.00% | 1.00% | 1.75% | 4.85% | 5.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class | 213 | 25.009464 | 29.913194 | 6153 | 1.28% | 1.00% | 2.00% | 12.92% | 14.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class | 133 | 33.570850 | 40.152986 | 5190 | 1.62% | 1.00% | 2.00% | 6.65% | 7.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class | 4 | 69.632787 | 73.460451 | 296 | 0.00% | 1.40% | 1.65% | 10.82% | 11.10% |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | 53 | 42.435065 | 48.958075 | 2491 | 0.47% | 1.00% | 1.80% | 10.55% | 11.45% |
|  Neuberger Berman Advisers Management Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | 14 | 22.553025 | 23.262756 | 322 | 0.00% | 1.40% | 1.70% | 3.44% | 3.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Quality Equity Portfolio-Class S | 113 | 20.923198 | 22.013539 | 2435 | 0.00% | 1.00% | 1.75% | 11.45% | 12.30% |
|  PIMCO Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 126 | 18.525702 | 22.157869 | 2825 | 6.23% | 1.00% | 2.00% | 6.81% | 7.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 223 | 12.255069 | 14.657913 | 3298 | 3.38% | 1.00% | 2.00% | 5.71% | 6.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 615 | 12.856604 | 15.377432 | 9201 | 4.16% | 1.00% | 2.00% | 6.74% | 7.83% |
|  Wilshire Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 127 | 15.450507 | 16.305632 | 2015 | 3.05% | 1.00% | 1.75% | 15.42% | 16.30% |

---

(1) These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount
from the underlying mutual fund, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. For subaccounts that commenced during the period
indicated, average net assets have been calculated from the date operations commenced through the end of the reporting period. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the
underlying fund in which the subaccounts invest.

(2) These ratios represent the annualized contract expenses of the separate account, consisting primarily of
mortality and expense risk charges, for the period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of
the underlying fund are excluded.

(3) These amounts represent the total return for the periods indicated, including changes in the value of the
underlying fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. The total return is calculated for each period indicated or from the effective date
through the end of the reporting period. As the total return is presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some individual contract total returns are
not within the ranges presented.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(7)  **<u>UNIT VALUES AND FINANCIAL HIGHLIGHTS</u>** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | At December 31, 2024 | At December 31, 2024 | At December 31, 2024 | At December 31, 2024 | Year Ended December 31, 2024 | Year Ended December 31, 2024 | Year Ended December 31, 2024 | Year Ended December 31, 2024 | Year Ended December 31, 2024 |
| Subaccount | Units<br>(000s) | Unit Value<br>Range | Unit Value<br>Range | Net Assets<br>(000s) | Investment<br>Income Ratio (1) | Expenses Ratio<br>Range (2) | Expenses Ratio<br>Range (2) | Total Return<br>Range (3) | Total Return<br>Range (3) |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | 79 | $7.119610 | $8.147968 | $616 | 2.40% | 1.00% | 1.80% | 2.91% | 3.75% |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares | 111 | 32.379567 | 37.054660 | 5238 | 0.98% | 1.00% | 1.80% | 28.05% | 29.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares | 242 | 36.204933 | 42.865878 | 10460 | 0.00% | 1.00% | 2.00% | 31.13% | 32.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 180 | 29.908503 | 34.367985 | 5897 | 1.73% | 1.00% | 2.00% | 12.86% | 14.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | 18 | 32.296720 | 34.845122 | 641 | 0.68% | 1.40% | 1.80% | 23.33% | 23.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | 329 | 15.145314 | 15.881975 | 5150 | 0.00% | 1.00% | 2.00% | 21.42% | 22.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 12 | 27.223678 | 28.381899 | 341 | 1.73% | 1.40% | 1.70% | 11.28% | 11.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 143 | 10.615075 | 10.670509 | 1615 | 2.10% | 1.00% | 1.75% | 9.99% | 10.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | 131 | 13.562838 | 15.398359 | 1934 | 1.57% | 1.00% | 1.75% | -1.43% | -0.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | 160 | 26.856611 | 30.734605 | 5345 | 0.00% | 1.00% | 1.80% | 13.68% | 14.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 261 | 9.560072 | 11.319692 | 2825 | 2.37% | 1.00% | 2.00% | -4.08% | -3.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 35 | 11.324337 | 12.122830 | 427 | 2.36% | 1.40% | 1.70% | -0.27% | 0.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | 19 | 38.446940 | 41.158105 | 790 | 0.00% | 1.40% | 1.70% | 2.38% | 2.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | 104 | 34.410138 | 39.065844 | 4122 | 0.00% | 1.00% | 1.75% | 21.22% | 22.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | 77 | 22.211298 | 26.298616 | 2089 | 0.13% | 1.00% | 2.00% | 14.44% | 15.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | 94 | 34.497541 | 39.165523 | 4649 | 0.00% | 1.00% | 1.75% | 10.42% | 11.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | 142 | 27.643104 | 32.730033 | 4361 | 0.13% | 1.00% | 2.00% | 15.71% | 16.90% |
|  ALPS Variable Investment Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 527 | 16.179698 | 19.156696 | 9588 | 1.76% | 1.00% | 2.00% | 7.95% | 9.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 114 | 11.723712 | 13.310005 | 1431 | 1.84% | 1.00% | 1.75% | 3.44% | 4.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 959 | 19.368408 | 21.989091 | 20041 | 1.48% | 1.00% | 1.75% | 10.68% | 11.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 258 | 13.621937 | 16.128340 | 3938 | 2.13% | 1.00% | 2.00% | 5.79% | 6.88% |
|  BNY Mellon Investment Portfolios: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | 9 | 28.175272 | 31.987980 | 263 | 0.72% | 1.00% | 1.75% | 10.35% | 11.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | 11 | 66.408055 | 70.598030 | 774 | 0.00% | 1.40% | 1.70% | 23.59% | 23.97% |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | 620 | 38.792001 | 45.928596 | 32041 | 0.93% | 1.00% | 2.00% | 21.84% | 23.09% |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | 37 | 38.811314 | 44.414144 | 1749 | 0.40% | 1.00% | 1.80% | 22.32% | 23.32% |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | 17 | 46.811068 | 51.266445 | 847 | 0.19% | 1.40% | 1.80% | 10.44% | 10.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 5588 | 0.818617 | 0.984532 | 5406 | 3.41% | 1.00% | 2.00% | 3.29% | 3.84% |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio | 55 | 29.050242 | 32.980494 | 1714 | 0.38% | 1.00% | 1.75% | 18.95% | 19.86% |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Equity Portfolio | 261 | 26.922299 | 30.809344 | 7665 | 1.12% | 1.00% | 1.80% | 15.91% | 16.87% |
|  Deutsche DWS Variable Series II: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A | 14 | 13.197353 | 15.626221 | 210 | 1.26% | 1.00% | 2.00% | 7.16% | 8.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | 18 | 21.167963 | 23.669433 | 400 | 0.81% | 1.00% | 1.75% | 3.93% | 4.73% |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | 55 | 26.769822 | 30.161279 | 1603 | 1.77% | 1.00% | 1.75% | 2.81% | 3.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 67 | 19.135890 | 21.725222 | 1396 | 2.07% | 1.00% | 1.75% | 9.31% | 10.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | 29 | 40.469510 | 47.454722 | 1321 | 0.95% | 1.00% | 2.00% | 9.45% | 10.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 77 | 9.356079 | 11.077530 | 796 | 2.97% | 1.00% | 2.00% | -0.68% | 0.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 307 | 9.653504 | 11.430123 | 3328 | 2.52% | 1.00% | 2.00% | -3.00% | -2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | 144 | 9.096914 | 10.667503 | 1473 | 0.00% | 1.00% | 2.00% | -13.16% | -12.26% |
|  Janus Aspen Series: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 241 | 27.996156 | 32.037562 | 8082 | 1.79% | 1.00% | 1.80% | 13.06% | 13.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | 139 | 39.163111 | 46.369099 | 6958 | 0.64% | 1.00% | 2.00% | 13.00% | 14.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | 4 | 37.031634 | 39.643341 | 176 | 0.62% | 1.40% | 1.70% | 21.15% | 21.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | 696 | 9.691754 | 11.475866 | 8768 | 1.34% | 1.00% | 2.00% | 3.45% | 4.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | 94 | 43.945337 | 52.029991 | 5090 | 0.00% | 1.00% | 2.00% | 32.24% | 33.60% |
|  Lincoln Variable Insurance Products Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Capital Appreciation Fund-Standard Class II | 93 | 25.524438 | 27.688146 | 2493 | 0.00% | 1.00% | 1.75% | 22.78% | 23.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Large Company Value Fund-Service Class | 239 | 22.147019 | 26.222007 | 6073 | 2.41% | 1.00% | 2.00% | 8.29% | 9.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Mid Cap Value Fund-Service Class | 143 | 31.476125 | 37.267301 | 5191 | 2.41% | 1.00% | 2.00% | 6.34% | 7.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LVIP American Century Ultra<sup>®</sup> Fund-Service Class | 5 | 62.198667 | 66.122420 | 351 | 0.00% | 1.40% | 1.70% | 26.42% | 26.80% |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | 62 | 38.384100 | 43.926810 | 2593 | 0.00% | 1.00% | 1.80% | 39.26% | 40.40% |
|  Neuberger Berman Advisers Management Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | 15 | 21.802337 | 22.420136 | 334 | 0.00% | 1.40% | 1.70% | 21.64% | 22.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S | 131 | 18.773840 | 19.602573 | 2519 | 0.00% | 1.00% | 1.75% | 23.31% | 24.26% |
|  PIMCO Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 138 | 17.344912 | 20.536054 | 2880 | 5.86% | 1.00% | 2.00% | 4.75% | 5.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 249 | 11.592743 | 13.725657 | 3485 | 2.62% | 1.00% | 2.00% | 0.08% | 1.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 680 | 12.045072 | 14.261248 | 9481 | 4.03% | 1.00% | 2.00% | 0.47% | 1.50% |
|  Wilshire Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 140 | 13.385970 | 14.019863 | 1924 | 1.78% | 1.00% | 1.75% | 9.01% | 9.85% |

---

(1) These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount
from the underlying mutual fund, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. For subaccounts that commenced during the period
indicated, average net assets have been calculated from the date operations commenced through the end of the reporting period. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the
underlying fund in which the subaccounts invest.

(2) These ratios represent the annualized contract expenses of the separate account, consisting primarily of
mortality and expense risk charges, for the period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of
the underlying fund are excluded.

(3) These amounts represent the total return for the periods indicated, including changes in the value of the
underlying fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. The total return is calculated for each period indicated or from the effective date
through the end of the reporting period. As the total return is presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some individual contract total returns are
not within the ranges presented.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(7)  **<u>UNIT VALUES AND FINANCIAL HIGHLIGHTS</u>** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | At December 31, 2023 | At December 31, 2023 | At December 31, 2023 | At December 31, 2023 | Year Ended December 31, 2023 | Year Ended December 31, 2023 | Year Ended December 31, 2023 | Year Ended December 31, 2023 | Year Ended December 31, 2023 |
| Subaccount | Units<br>(000s) | Unit Value<br>Range | Unit Value<br>Range | Net Assets<br>(000s) | Investment<br>Income Ratio (1) | Expenses Ratio<br>Range (2) | Expenses Ratio<br>Range (2) | Total Return<br>Range (3) | Total Return<br>Range (3) |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | 82 | $6.918511 | $7.853301 | $617 | 0.70% | 1.00% | 1.80% | 12.77% | 13.69% |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares | 125 | 25.287285 | 28.702701 | 4586 | 0.61% | 1.00% | 1.80% | 13.53% | 14.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares | 262 | 27.610078 | 32.356946 | 8528 | 0.00% | 1.00% | 2.00% | 32.34% | 33.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 204 | 26.501593 | 30.142997 | 5871 | 1.73% | 1.00% | 2.00% | 10.12% | 11.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares | 46 | 12.524258 | 14.110282 | 841 | 1.69% | 1.00% | 1.75% | 10.35% | 11.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | 19 | 26.187344 | 28.138244 | 540 | 0.75% | 1.40% | 1.80% | 21.15% | 21.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | 360 | 12.473189 | 12.946661 | 4604 | 0.00% | 1.00% | 2.00% | 10.60% | 11.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 15 | 24.465096 | 25.427804 | 384 | 1.93% | 1.40% | 1.70% | 7.20% | 7.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 78 | 10.200633 | 10.269934 | 800 | 1.69% | 1.40% | 1.65% | 8.42% | 8.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | 139 | 13.758963 | 15.501638 | 2074 | 0.00% | 1.00% | 1.75% | 15.81% | 16.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | 174 | 23.624043 | 26.815063 | 5080 | 0.00% | 1.00% | 1.80% | 32.04% | 33.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 280 | 9.967006 | 11.681273 | 3138 | 1.18% | 1.00% | 2.00% | 6.65% | 7.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 37 | 11.354457 | 12.117823 | 450 | 1.79% | 1.40% | 1.70% | 2.69% | 3.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | 22 | 37.552160 | 40.077022 | 869 | 0.00% | 1.40% | 1.70% | 1.28% | 1.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | 112 | 28.387240 | 31.981930 | 3621 | 0.47% | 1.00% | 1.75% | 20.69% | 21.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | 82 | 19.408728 | 22.746287 | 1949 | 0.03% | 1.00% | 2.00% | 11.87% | 13.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | 99 | 31.009530 | 35.197752 | 4407 | 0.90% | 1.00% | 1.80% | 15.70% | 16.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | 148 | 23.889880 | 27.998049 | 3920 | 0.00% | 1.00% | 2.00% | 14.25% | 15.41% |
|  ALPS Variable Investment Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 567 | 14.988171 | 17.565198 | 9466 | 1.92% | 1.00% | 2.00% | 10.57% | 11.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 177 | 11.334312 | 12.769605 | 2170 | 2.21% | 1.00% | 1.75% | 5.96% | 6.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 1050 | 17.498836 | 19.714806 | 19719 | 1.78% | 1.00% | 1.75% | 13.26% | 14.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 293 | 12.876586 | 15.090568 | 4190 | 2.00% | 1.00% | 2.00% | 8.39% | 9.49% |
|  American Century Variable Portfolios, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Capital Appreciation Fund-Class I | 102 | 20.789542 | 22.379617 | 2204 | 0.00% | 1.00% | 1.75% | 18.58% | 19.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Large Company Value Fund-Class II | 262 | 20.451607 | 23.968038 | 6103 | 2.38% | 1.00% | 2.00% | 1.71% | 2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Mid Cap Value Fund-Class II | 149 | 29.600560 | 34.689739 | 5045 | 2.12% | 1.00% | 2.00% | 3.91% | 4.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Ultra<sup>®</sup> Fund-Class II | 6 | 49.201395 | 52.145012 | 316 | 0.00% | 1.40% | 1.70% | 40.84% | 41.27% |
|  BNY Mellon Investment Portfolios: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | 12 | 25.532521 | 28.766182 | 331 | 0.49% | 1.00% | 1.75% | 15.93% | 16.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | 12 | 53.734100 | 56.949407 | 704 | 0.00% | 1.40% | 1.70% | 56.72% | 57.20% |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | 676 | 31.838606 | 37.312198 | 28333 | 1.16% | 1.00% | 2.00% | 23.10% | 24.35% |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | 41 | 31.730280 | 36.015169 | 1562 | 0.55% | 1.00% | 1.80% | 21.29% | 22.28% |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | 17 | 42.385553 | 46.229992 | 782 | 0.49% | 1.40% | 1.80% | 18.50% | 18.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 2831 | 0.792277 | 0.948147 | 2605 | 4.62% | 1.00% | 2.00% | 3.23% | 3.82% |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio | 57 | 24.422878 | 27.515338 | 1497 | 0.54% | 1.00% | 1.75% | 18.02% | 18.92% |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Value Portfolio | 286 | 23.226251 | 26.363166 | 7204 | 1.34% | 1.00% | 1.80% | 30.25% | 31.31% |
|  Deutsche DWS Variable Series II: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A | 14 | 12.315497 | 14.433537 | 200 | 0.62% | 1.00% | 2.00% | 13.73% | 14.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | 17 | 20.368150 | 22.601097 | 371 | 0.80% | 1.00% | 1.75% | 12.59% | 13.44% |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | 58 | 25.844993 | 29.112643 | 1636 | 2.41% | 1.00% | 1.80% | 18.15% | 19.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 75 | 17.506402 | 19.723425 | 1416 | 1.77% | 1.00% | 1.75% | 11.48% | 12.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | 32 | 36.974390 | 42.914753 | 1290 | 0.50% | 1.00% | 2.00% | 10.50% | 11.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 85 | 9.419767 | 11.039306 | 883 | 2.99% | 1.00% | 2.00% | 2.38% | 3.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 321 | 9.951557 | 11.662974 | 3560 | 3.43% | 1.00% | 2.00% | 18.35% | 19.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | 156 | 10.475390 | 12.158749 | 1822 | 0.00% | 1.00% | 2.00% | 0.83% | 1.86% |
|  Janus Aspen Series: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 255 | 24.762868 | 28.106688 | 7569 | 1.71% | 1.00% | 1.80% | 13.07% | 13.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | 151 | 34.658704 | 40.618012 | 6624 | 0.09% | 1.00% | 2.00% | 15.43% | 16.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | 5 | 30.565550 | 32.620995 | 148 | 0.79% | 1.40% | 1.70% | 24.33% | 24.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | 741 | 9.368672 | 10.980324 | 8929 | 1.40% | 1.00% | 2.00% | 8.38% | 9.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | 113 | 33.231800 | 38.944970 | 4540 | 0.06% | 1.00% | 2.00% | 39.97% | 41.39% |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | 71 | 27.562985 | 31.286366 | 2141 | 0.00% | 1.00% | 1.80% | 41.75% | 42.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Real Estate Portfolio - Class I | 67 | 33.588452 | 35.846919 | 2410 | 2.26% | 1.40% | 1.70% | 12.58% | 12.92% |
|  Neuberger Berman Advisers Management Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | 15 | 17.923572 | 18.374989 | 279 | 0.00% | 1.40% | 1.70% | 15.96% | 16.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S | 148 | 15.225229 | 15.775914 | 2301 | 0.08% | 1.00% | 1.75% | 24.36% | 25.31% |
|  PIMCO Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 149 | 16.558631 | 19.405437 | 2963 | 5.68% | 1.00% | 2.00% | 10.01% | 11.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 272 | 11.584008 | 13.575597 | 3756 | 2.91% | 1.00% | 2.00% | 1.60% | 2.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 733 | 11.988831 | 14.050047 | 10109 | 3.52% | 1.00% | 2.00% | 3.83% | 4.88% |
|  Rydex Variable Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guggenheim Long Short Equity Fund | 18 | 18.811680 | 20.076410 | 369 | 0.26% | 1.40% | 1.70% | 10.84% | 11.18% |
|  Wilshire Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 156 | 12.279286 | 12.762530 | 1956 | 1.31% | 1.00% | 1.75% | 14.41% | 15.28% |

---

(1) These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount
from the underlying mutual fund, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. For subaccounts that commenced during the period
indicated, average net assets have been calculated from the date operations commenced through the end of the reporting period. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the
underlying fund in which the subaccounts invest.

(2) These ratios represent the annualized contract expenses of the separate account, consisting primarily of
mortality and expense risk charges, for the period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of
the underlying fund are excluded.

(3) These amounts represent the total return for the periods indicated, including changes in the value of the
underlying fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. The total return is calculated for each period indicated or from the effective date
through the end of the reporting period. As the total return is presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some individual contract total returns are
not within the ranges presented.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(7)  **<u>UNIT VALUES AND FINANCIAL HIGHLIGHTS</u>** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | At December 31, 2022 | At December 31, 2022 | At December 31, 2022 | At December 31, 2022 | Year Ended December 31, 2022 | Year Ended December 31, 2022 | Year Ended December 31, 2022 | Year Ended December 31, 2022 | Year Ended December 31, 2022 |
| Subaccount | Units<br>(000s) | Unit Value<br>Range | Unit Value<br>Range | Net Assets<br>(000s) | Investment<br>Income Ratio (1) | Expenses Ratio<br>Range (2) | Expenses Ratio<br>Range (2) | Total Return<br>Range (3) | Total Return<br>Range (3) |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | 88 | $6.135004 | $6.907831 | $586 | 3.86% | 1.00% | 1.80% | -15.34% | -14.66% |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares | 140 | 22.274637 | 25.079484 | 4417 | 0.71% | 1.00% | 1.80% | -4.36% | -3.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares | 286 | 20.863336 | 24.204267 | 6969 | 0.00% | 1.00% | 2.00% | -32.34% | -31.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 245 | 24.066604 | 27.097752 | 6328 | 1.49% | 1.00% | 2.00% | -0.89% | 0.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares | 50 | 11.349898 | 12.690583 | 817 | 1.08% | 1.00% | 1.75% | -18.47% | -17.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | 20 | 21.615504 | 23.131993 | 463 | 0.89% | 1.40% | 1.80% | -21.97% | -21.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | 390 | 11.277729 | 11.587971 | 4480 | 0.00% | 1.00% | 2.00% | -32.51% | -31.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 16 | 22.822458 | 23.648650 | 386 | 1.83% | 1.40% | 1.70% | -3.35% | -3.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares | 84 | 9.408113 | 9.448103 | 798 | 1.42% | 1.40% | 1.65% | -9.23% | -9.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. EQV International Equity Fund-Series II Shares | 157 | 11.880609 | 13.284269 | 2012 | 1.35% | 1.00% | 1.75% | -19.93% | -19.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | 198 | 17.892158 | 20.145441 | 4356 | 0.00% | 1.00% | 1.80% | -33.16% | -32.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 291 | 9.345157 | 10.842122 | 3027 | 2.41% | 1.00% | 2.00% | -26.64% | -25.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 38 | 11.057105 | 11.764707 | 441 | 1.97% | 1.40% | 1.70% | -12.09% | -11.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | 22 | 37.079320 | 39.452450 | 878 | 0.00% | 1.40% | 1.70% | -14.79% | -14.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | 131 | 23.521450 | 26.299887 | 3485 | 1.02% | 1.00% | 1.75% | -21.70% | -21.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | 109 | 17.349543 | 20.128228 | 2284 | 0.06% | 1.00% | 2.00% | -16.16% | -15.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | 107 | 26.800618 | 30.175323 | 4037 | 0.23% | 1.00% | 1.80% | -17.55% | -16.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | 160 | 20.910032 | 24.258974 | 3674 | 0.00% | 1.00% | 2.00% | -22.09% | -21.30% |
|  ALPS Variable Investment Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 621 | 13.555151 | 15.725782 | 9311 | 1.55% | 1.00% | 2.00% | -14.62% | -13.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 201 | 10.696709 | 11.960183 | 2307 | 1.48% | 1.00% | 1.75% | -13.36% | -12.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 1105 | 15.450579 | 17.275678 | 18218 | 1.46% | 1.00% | 1.75% | -14.77% | -14.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 332 | 11.879984 | 13.782348 | 4360 | 1.62% | 1.00% | 2.00% | -14.29% | -13.41% |
|  American Century Variable Portfolios, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Capital Appreciation Fund-Class I | 105 | 17.531454 | 18.729844 | 1911 | 0.00% | 1.00% | 1.75% | -29.37% | -28.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Large Company Value Fund-Class II | 281 | 20.108331 | 23.328312 | 6376 | 1.88% | 1.00% | 2.00% | -2.44% | -1.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Mid Cap Value Fund-Class II | 158 | 28.486481 | 33.047751 | 5135 | 2.07% | 1.00% | 2.00% | -3.35% | -2.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Ultra<sup>®</sup> Fund-Class II | 6 | 34.933617 | 36.911558 | 232 | 0.00% | 1.40% | 1.70% | -33.61% | -33.41% |
|  BNY Mellon Investment Portfolios: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | 14 | 22.024431 | 24.626360 | 320 | 0.43% | 1.00% | 1.75% | -15.78% | -15.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | 14 | 34.286293 | 36.227969 | 500 | 0.00% | 1.40% | 1.70% | -47.30% | -47.14% |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | 764 | 25.864482 | 30.005911 | 25554 | 1.03% | 1.00% | 2.00% | -20.15% | -19.34% |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | 47 | 26.160545 | 29.454179 | 1477 | 0.30% | 1.00% | 1.80% | -24.45% | -23.83% |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | 17 | 35.767827 | 38.854406 | 667 | 0.38% | 1.40% | 1.80% | -19.72% | -19.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 1879 | 0.767354 | 0.913269 | 1679 | 1.39% | 1.00% | 2.00% | -0.97% | 0.27% |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio | 79 | 20.693170 | 23.137323 | 1737 | 0.63% | 1.00% | 1.75% | -20.48% | -19.88% |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Value Portfolio | 309 | 17.832030 | 20.077463 | 5936 | 1.19% | 1.00% | 1.80% | -21.57% | -20.93% |
|  Deutsche DWS Variable Series II: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A | 33 | 10.829031 | 12.563596 | 380 | 1.02% | 1.00% | 2.00% | -29.94% | -29.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | 19 | 18.090944 | 19.922564 | 355 | 0.43% | 1.00% | 1.75% | -17.60% | -16.98% |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | 64 | 21.874482 | 24.441700 | 1516 | 1.33% | 1.00% | 1.80% | -6.46% | -5.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 86 | 15.703145 | 17.558168 | 1443 | 1.75% | 1.00% | 1.75% | -9.05% | -8.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | 43 | 33.462072 | 38.446837 | 1557 | 0.92% | 1.00% | 2.00% | -11.86% | -10.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 108 | 9.200631 | 10.673826 | 1082 | 2.44% | 1.00% | 2.00% | -11.55% | -10.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 419 | 8.408643 | 9.755483 | 3870 | 2.77% | 1.00% | 2.00% | -9.45% | -8.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | 210 | 10.388929 | 11.936867 | 2386 | 0.00% | 1.00% | 2.00% | -6.85% | -5.90% |
|  Janus Aspen Series: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 311 | 21.900829 | 24.657933 | 8084 | 0.91% | 1.00% | 1.80% | -18.12% | -17.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | 175 | 30.026410 | 34.834865 | 6541 | 0.07% | 1.00% | 2.00% | -17.82% | -16.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | 5 | 24.584756 | 26.158542 | 139 | 0.83% | 1.40% | 1.70% | -20.98% | -20.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | 874 | 8.644327 | 10.029309 | 9468 | 1.52% | 1.00% | 2.00% | -10.66% | -9.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | 141 | 23.742768 | 27.544688 | 3977 | 0.52% | 1.00% | 2.00% | -31.46% | -30.76% |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Core Plus Fixed Income Portfolio - Class I | 55 | 11.872810 | 13.275086 | 739 | 4.09% | 1.00% | 1.75% | -15.83% | -15.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | 83 | 19.444238 | 21.893355 | 1741 | 0.00% | 1.00% | 1.80% | -63.63% | -63.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Real Estate Portfolio - Class I | 71 | 29.836344 | 31.746040 | 2236 | 1.18% | 1.40% | 1.70% | -28.29% | -28.07% |
|  Neuberger Berman Advisers Management Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | 19 | 15.456179 | 15.797472 | 300 | 0.00% | 1.40% | 1.70% | -30.04% | -29.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S | 152 | 12.242791 | 12.589835 | 1892 | 0.10% | 1.00% | 1.75% | -20.08% | -19.47% |
|  PIMCO Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 163 | 15.051856 | 17.461919 | 2926 | 4.79% | 1.00% | 2.00% | -12.09% | -11.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 318 | 11.401227 | 13.226732 | 4249 | 6.99% | 1.00% | 2.00% | -13.67% | -12.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 857 | 11.547049 | 13.395946 | 11215 | 2.56% | 1.00% | 2.00% | -16.02% | -15.16% |
|  Rydex Variable Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guggenheim Long Short Equity Fund | 20 | 16.971507 | 18.057610 | 366 | 0.45% | 1.40% | 1.70% | -15.84% | -15.58% |
|  Wilshire Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 161 | 10.733087 | 11.071213 | 1760 | 3.22% | 1.00% | 1.75% | -19.26% | -18.65% |

---

(1) These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount
from the underlying mutual fund, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. For subaccounts that commenced during the period
indicated, average net assets have been calculated from the date operations commenced through the end of the reporting period. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the
underlying fund in which the subaccounts invest.

(2) These ratios represent the annualized contract expenses of the separate account, consisting primarily of
mortality and expense risk charges, for the period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of
the underlying fund are excluded.

(3) These amounts represent the total return for the periods indicated, including changes in the value of the
underlying fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. The total return is calculated for each period indicated or from the effective date
through the end of the reporting period. As the total return is presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some individual contract total returns are
not within the ranges presented.

------

**ANNUITY INVESTORS VARIABLE ACCOUNT C** 

**NOTES TO FINANCIAL STATEMENTS - CONTINUED** 

(7)  **<u>UNIT VALUES AND FINANCIAL HIGHLIGHTS</u>** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | At December 31, 2021 | At December 31, 2021 | At December 31, 2021 | At December 31, 2021 | Year Ended December 31, 2021 | Year Ended December 31, 2021 | Year Ended December 31, 2021 | Year Ended December 31, 2021 | Year Ended December 31, 2021 |
| Subaccount | Units<br>(000s) | Unit Value<br>Range | Unit Value<br>Range | Net Assets<br>(000s) | Investment<br>Income Ratio (1) | Expenses Ratio<br>Range (2) | Expenses Ratio<br>Range (2) | Total Return<br>Range (3) | Total Return<br>Range (3) |
|  AB Variable Products Series Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AB International Value Portfolio - Class B | 88 | $7.247053 | $8.094073 | $689 | 1.73% | 1.00% | 1.80% | 8.86% | 9.75% |
|  AIM Variable Insurance Funds (Invesco Variable Insurance Funds): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. American Value Fund-Series I Shares | 151 | 23.290671 | 26.011874 | 4919 | 0.46% | 1.00% | 1.80% | 25.65% | 26.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Capital Appreciation Fund-Series II Shares | 305 | 30.836560 | 35.413338 | 10910 | 0.00% | 1.00% | 2.00% | 19.84% | 21.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Comstock Fund-Series I Shares | 292 | 24.283788 | 27.066638 | 7537 | 1.84% | 1.00% | 2.00% | 30.70% | 32.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Conservative Balanced Fund-Series II Shares | 53 | 13.921038 | 15.447649 | 1049 | 1.24% | 1.00% | 1.75% | 8.37% | 9.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Core Equity Fund-Series I Shares | 20 | 27.703114 | 29.526635 | 603 | 0.65% | 1.40% | 1.80% | 25.44% | 25.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Discovery Mid Cap Growth Fund-Series II Shares | 428 | 16.709632 | 16.995878 | 7232 | 0.00% | 1.00% | 2.00% | 16.42% | 17.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Diversified Dividend Fund-Series I Shares | 17 | 23.612743 | 24.393330 | 416 | 2.14% | 1.40% | 1.70% | 16.87% | 17.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Equity and Income Fund-Series II Shares (\*) | 84 | 10.365212 | 10.382945 | 876 | 3.27% | 1.40% | 1.65% | 0.00% | 0.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Fund-Series II Shares | 209 | 26.768901 | 29.896553 | 6907 | 0.00% | 1.00% | 1.80% | 13.10% | 14.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Global Real Estate Fund-Series II Shares | 304 | 12.738438 | 14.629664 | 4285 | 2.60% | 1.00% | 2.00% | 22.94% | 24.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Government Securities Fund-Series II Shares | 29 | 12.578429 | 13.342786 | 377 | 1.96% | 1.40% | 1.70% | -4.09% | -3.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Health Care Fund-Series I Shares | 22 | 43.513718 | 46.158106 | 1029 | 0.21% | 1.40% | 1.70% | 10.39% | 10.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. International Growth Fund-Series II Shares | 166 | 14.837703 | 16.465113 | 2645 | 1.11% | 1.00% | 1.75% | 3.76% | 4.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Fund<sup>®</sup>-Series II Shares | 145 | 30.040932 | 33.335235 | 4920 | 0.50% | 1.00% | 1.75% | 25.01% | 25.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Mid Cap Fund<sup>®</sup>-Series II Shares | 143 | 20.694113 | 23.766197 | 3526 | 0.26% | 1.00% | 2.00% | 20.41% | 21.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Main Street Small Cap Fund<sup>®</sup>-Series II Shares | 120 | 32.505902 | 36.303599 | 5423 | 0.18% | 1.00% | 1.80% | 20.06% | 21.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Invesco V.I. Small Cap Equity Fund-Series I Shares | 168 | 26.840311 | 30.824739 | 4919 | 0.17% | 1.00% | 2.00% | 17.99% | 19.20% |
|  ALPS Variable Investment Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Balanced ETF Asset Allocation Portfolio-Class II | 685 | 15.876998 | 18.233610 | 11936 | 1.33% | 1.00% | 2.00% | 8.57% | 9.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Conservative ETF Asset Allocation Portfolio-Class II | 193 | 12.346064 | 13.699916 | 2542 | 1.36% | 1.00% | 1.75% | 0.49% | 1.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Growth ETF Asset Allocation Portfolio-Class II | 1226 | 18.127648 | 20.115594 | 23559 | 1.24% | 1.00% | 1.75% | 12.87% | 13.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morningstar Income and Growth ETF Asset Allocation Portfolio-Class II | 356 | 13.860016 | 15.917243 | 5410 | 1.39% | 1.00% | 2.00% | 4.34% | 5.40% |
|  American Century Variable Portfolios, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Capital Appreciation Fund-Class I | 116 | 24.820804 | 26.316589 | 2969 | 0.00% | 1.00% | 1.75% | 9.21% | 10.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Large Company Value Fund-Class II | 312 | 20.611916 | 23.671515 | 7201 | 1.27% | 1.00% | 2.00% | 19.10% | 20.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Mid Cap Value Fund-Class II | 169 | 29.474824 | 33.849605 | 5632 | 1.06% | 1.00% | 2.00% | 20.56% | 21.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VP Ultra<sup>®</sup> Fund-Class II | 6 | 52.617961 | 55.428294 | 354 | 0.00% | 1.40% | 1.70% | 20.90% | 21.27% |
|  BNY Mellon Investment Portfolios: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MidCap Stock Portfolio-Service Shares | 14 | 26.151473 | 29.019668 | 389 | 0.46% | 1.00% | 1.75% | 23.36% | 24.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Technology Growth Portfolio-Initial Shares | 14 | 65.057933 | 68.533139 | 987 | 0.00% | 1.40% | 1.70% | 11.01% | 11.35% |
|  BNY Mellon Stock Index Fund, Inc. - Service Shares | 826 | 32.391693 | 37.199111 | 34367 | 0.82% | 1.00% | 2.00% | 25.56% | 26.84% |
|  BNY Mellon Sustainable U.S. Equity Portfolio, Inc. - Service Shares | 59 | 34.625219 | 38.669871 | 2391 | 0.60% | 1.00% | 1.80% | 24.40% | 25.42% |
|  BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Appreciation Portfolio-Service Shares | 21 | 44.555706 | 48.204657 | 985 | 0.20% | 1.40% | 1.80% | 24.49% | 25.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Market Portfolio | 1369 | 0.774872 | 0.910845 | 1234 | 0.01% | 1.00% | 2.00% | -2.53% | -1.10% |
|  Calamos<sup>®</sup> Advisors Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Calamos<sup>®</sup> Growth and Income Portfolio | 88 | 26.023913 | 28.877506 | 2435 | 0.37% | 1.00% | 1.75% | 19.27% | 20.18% |
|  Davis Variable Account Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Davis Value Portfolio | 326 | 22.735159 | 25.391387 | 7957 | 0.62% | 1.00% | 1.80% | 15.73% | 16.67% |
|  Deutsche DWS Variable Series II: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS International Growth VIP-Class A | 37 | 15.456971 | 17.751720 | 608 | 0.34% | 1.00% | 2.00% | 5.95% | 7.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DWS Small Mid Cap Value VIP-Class B | 18 | 21.956082 | 23.996019 | 424 | 0.94% | 1.00% | 1.75% | 27.77% | 28.74% |
|  Franklin Templeton Variable Insurance Products Trust : |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Global Discovery VIP Fund - Class 2 | 71 | 23.384920 | 25.918622 | 1766 | 2.76% | 1.00% | 1.80% | 16.99% | 17.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Mutual Shares VIP Fund - Class 2 | 95 | 17.265205 | 19.158702 | 1762 | 3.02% | 1.00% | 1.75% | 17.08% | 17.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin Small Cap Value VIP Fund - Class 2 | 53 | 37.964856 | 43.180373 | 2173 | 1.10% | 1.00% | 2.00% | 22.86% | 24.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Franklin U.S. Government Securities VIP Fund - Class 2 | 123 | 10.402512 | 11.946443 | 1386 | 2.46% | 1.00% | 2.00% | -3.79% | -2.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Foreign VIP Fund - Class 2 | 437 | 9.286352 | 10.665058 | 4417 | 1.93% | 1.00% | 2.00% | 2.08% | 3.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Templeton Global Bond VIP Fund - Class 2 | 252 | 11.152596 | 12.685092 | 3044 | 0.00% | 1.00% | 2.00% | -6.89% | -5.94% |
|  Janus Aspen Series: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Balanced Portfolio-Service Shares | 341 | 26.746223 | 29.870306 | 10712 | 0.66% | 1.00% | 1.80% | 14.81% | 15.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Enterprise Portfolio-Service Shares | 191 | 36.539533 | 41.963239 | 8677 | 0.25% | 1.00% | 2.00% | 14.21% | 15.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Global Research Portfolio-Service Shares | 6 | 31.110194 | 33.001188 | 188 | 0.37% | 1.40% | 1.70% | 15.79% | 16.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Overseas Portfolio-Service Shares | 1074 | 9.675465 | 11.112335 | 12690 | 1.05% | 1.00% | 2.00% | 11.02% | 12.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Janus Henderson VIT Research Portfolio-Service Shares | 133 | 34.641572 | 39.782908 | 5426 | 0.02% | 1.00% | 2.00% | 17.65% | 18.85% |
|  Morgan Stanley Variable Insurance Fund, Inc.: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Core Plus Fixed Income Portfolio - Class I | 53 | 14.105368 | 15.651992 | 842 | 3.93% | 1.00% | 1.75% | -2.07% | -1.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Discovery Portfolio - Class I | 90 | 53.463860 | 59.710124 | 5218 | 0.00% | 1.00% | 1.80% | -12.66% | -11.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Real Estate Portfolio - Class I | 73 | 41.608871 | 44.137519 | 3205 | 2.06% | 1.40% | 1.70% | 37.43% | 37.85% |
|  Neuberger Berman Advisers Management Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Growth Portfolio-Class S | 19 | 22.091585 | 22.510792 | 433 | 0.00% | 1.40% | 1.70% | 10.81% | 11.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sustainable Equity Portfolio-Class S | 188 | 15.317905 | 15.632908 | 2912 | 0.17% | 1.00% | 1.75% | 21.01% | 21.93% |
|  PIMCO Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO High Yield Portfolio - Administrative Class | 185 | 17.121724 | 19.662878 | 3724 | 4.48% | 1.00% | 2.00% | 1.56% | 2.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Real Return Portfolio - Administrative Class | 352 | 13.206413 | 15.166447 | 5406 | 4.85% | 1.00% | 2.00% | 3.50% | 4.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PIMCO Total Return Portfolio - Administrative Class | 909 | 13.749652 | 15.790315 | 14085 | 1.81% | 1.00% | 2.00% | -3.24% | -2.25% |
|  Rydex Variable Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Guggenheim Long Short Equity Fund | 21 | 20.165782 | 21.391218 | 445 | 0.68% | 1.40% | 1.70% | 21.70% | 22.07% |
|  Wilshire Variable Insurance Trust: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wilshire Global Allocation Fund | 177 | 13.293686 | 13.608700 | 2391 | 1.14% | 1.00% | 1.75% | 9.89% | 10.72% |

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(1) These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount
from the underlying mutual fund, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that result in direct reductions in the unit values. For subaccounts that commenced during the period
indicated, average net assets have been calculated from the date operations commenced through the end of the reporting period. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the
underlying fund in which the subaccounts invest.

(2) These ratios represent the annualized contract expenses of the separate account, consisting primarily of
mortality and expense risk charges, for the period indicated. The ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of
the underlying fund are excluded.

(3) These amounts represent the total return for the periods indicated, including changes in the value of the
underlying fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. The total return is calculated for each period indicated or from the effective date
through the end of the reporting period. As the total return is presented as a range of minimum to maximum values, based on the product grouping representing the minimum and maximum expense ratio amounts, some individual contract total returns are
not within the ranges presented.

(\*) Period from April 30, 2021 (commencement of operations) to December 31, 2021.