# EDGAR Filing Document

**Accession Number:** 0000859607
**File Stem:** 0001164098-26-000807
**Filing Date:** 2026-4
**Character Count:** 416689
**Document Hash:** bc854032892a4668d00180354f981340
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001164098-26-000807.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001164098-26-000807

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**EFFECTIVENESS DATE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SEPARATE ACCOUNT VA B
- **CENTRAL INDEX KEY:** 0000859607

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06032
- **FILM NUMBER:** 26895834

**BUSINESS ADDRESS:**
- **STREET 1:** 6400 C STREET SW
- **CITY:** CEDAR RAPIDS
- **STATE:** IA
- **ZIP:** 52499
- **BUSINESS PHONE:** 319-355-8366

**MAIL ADDRESS:**
- **STREET 1:** 6400 C STREET SW
- **CITY:** CEDAR RAPIDS
- **STATE:** IA
- **ZIP:** 52499

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PFL ENDEAVOR VARIABLE ANNUITY ACCOUNT /NEW/
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NN ENDEAVOR VARIABLE ANNUITY ACCOUNT
- **DATE OF NAME CHANGE:** 19910331

## Series and Classes Contracts Data

### SEPARATE ACCOUNT VA B (Series ID: S000006417)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000017603 | Transamerica Landmark Variable Annuity      |  |
| C000017604 | Transamerica Freedom Variable Annuity       |  |
| C000017605 | Members Landmark Variable Annuity           |  |
| C000124123 | Transamerica Variable Annuity Series        |  |
| C000125095 | Transamerica Axiom II                       |  |
| C000125106 | Transamerica Principium III                 |  |
| C000125107 | Transamerica Advisor Elite II               |  |
| C000125108 | Transamerica Income Elite II                |  |
| C000125286 | Transamerica Retirement Income Plus         |  |
| C000127795 | Members Variable Annuity Series             |  |
| C000127970 | Transamerica Extra Variable Annuity         |  |
| C000127971 | Members Extra Variable Annuity              |  |
| C000127972 | Transamerica Liberty Variable Annuity       |  |
| C000127973 | Members Liberty Variable Annuity            |  |
| C000127974 | Transamerica Principium II Variable Annuity |  |
| C000127975 | Transamerica Axiom Variable Annuity         |  |
| C000127976 | Income Elite Variable Annuity               |  |
| C000127977 | Transamerica Advisor Elite Variable Annuity |  |
| C000128470 | Members Freedom Variable Annuity            |  |
| C000128575 | Partners Variable Annuity Series            |  |
| C000130280 | Transamerica Variable Annuity O-Share       |  |
| C000178598 | Transamerica Variable Annuity I-Share       |  |
| C000180728 | Transamerica Inspire Variable Annuity       |  |
| C000216251 | Transamerica Advisory Annuity               |  |
| C000216269 | Transamerica B-Share                        |  |
| C000216271 | Axiom III                                   |  |
| C000216272 | Principium IV                               |  |
| C000216274 | Transamerica I-Share II                     |  |

**FINANCIAL STATEMENTS** 

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Years Ended December 31, 2025 and 2024** 

---

| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Financial Statements** |
| **Years Ended December 31, 2025 and 2024** |

---

---

| | |
|:---|:---|
| [Report of Independent Registered Public Accounting Firm](#tocAnchor0) | 3 |
| [Statement of Assets and Liabilities](#tocAnchor1) | 4 |
| [Statements of Operations and Changes in Net Assets](#tocAnchor2) | 13 |
| [Notes to Financial Statements](#tocAnchor3) | 51 |

---

![](ey_logo.gif)

### Report of Independent Registered Public Accounting Firm
To the Board of Directors of Transamerica Life Insurance Company and

Contract Owners of Separate Account VA B

#### Opinion on the Financial Statements
We have audited the accompanying statements of assets and liabilities of each of the subaccounts listed in the table below that comprise Separate Account VA B (the Separate Account), as of December 31, 2025, the related statements of operations and changes in net assets for each of the periods indicated in the table below, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each subaccount as of December 31, 2025, the results of its operations and changes in its net assets for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

---

| | |
|:---|:---|
| Subaccounts | Subaccounts |
| AB Balanced Hedged Allocation Class B Shares (1) | TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class (1) |
| AB Large Cap Growth Class B Shares (1) | TA BlackRock iShares Edge 100 Service Class (1) |
| AB Relative Value Class B Shares (1) | TA BlackRock iShares Edge 40 Initial Class (1) |
| American Funds - Asset Allocation Class 2 Shares (1) | TA BlackRock iShares Edge 40 Service Class (1) |
| American Funds - Asset Allocation Class 4 Shares (1) | TA BlackRock iShares Edge 50 Service Class (1) |
| American Funds - Growth Class 2 Shares (1) | TA BlackRock iShares Edge 75 Service Class (1) |
| American Funds - Growth Class 4 Shares (1) | TA BlackRock iShares Tactical - Balanced Service Class (1) |
| American Funds - Growth-Income Class 2 Shares (1) | TA BlackRock iShares Tactical - Conservative Service Class (1) |
| American Funds - Growth-Income Class 4 Shares (1) | TA BlackRock iShares Tactical - Growth Service Class (1) |
| American Funds - International Class 2 Shares (1) | TA BlackRock Real Estate Securities Initial Class (1) |
| American Funds - International Class 4 Shares (1) | TA BlackRock Real Estate Securities Service Class (1) |
| American Funds - New World Class 4 Shares (1) | TA BlackRock Tactical Allocation Service Class (1) |
| American Funds - The Bond Fund of America Class 2 Shares (1) | TA Goldman Sachs 70/30 Service Class (1) |
| American Funds - The Bond Fund of America Class 4 Shares (1) | TA Goldman Sachs Managed Risk - Balanced ETF Service Class (1) |
| BlackRock Basic Value V.I. Class I Shares (1) | TA Goldman Sachs Managed Risk - Conservative ETF Service Class (1) |
| BlackRock Global Allocation V.I. Class I Shares (1) | TA Goldman Sachs Managed Risk - Growth ETF Service Class (1) |
| BlackRock High Yield V.I. Class I Shares (1) | TA Great Lakes Advisors Large Cap Value Service Class (1) |
| Dimensional VA Equity Allocation (1) | TA International Focus Initial Class (1) |
| Columbia – Acorn (1) | TA International Focus Service Class (1) |
| Columbia - Acorn International (1) | TA Janus Balanced Service Class (1) |
| Dimensional VA Global Bond (1) | TA Janus Mid-Cap Growth Initial Class (1) |
| Dimensional VA Global Moderate Allocation (1) | TA Janus Mid-Cap Growth Service Class (1) |
| Dimensional VA International Small (1) | TA JPMorgan Asset Allocation - Conservative Initial Class (1) |
| Dimensional VA International Value (1) | TA JPMorgan Asset Allocation - Conservative Service Class (1) |
| Dimensional VA Short-Term Fixed (1) | TA JPMorgan Asset Allocation - Moderate Initial Class (1) |
| Dimensional VA U.S. Large Value (1) | TA JPMorgan Asset Allocation - Moderate Service Class (1) |
| Dimensional VA U.S. Targeted Value (1) | TA JPMorgan Asset Allocation - Moderate Growth Initial Class (1) |
| Fidelity® VIP Balanced Service Class 2 (1) | TA JPMorgan Asset Allocation - Moderate Growth Service Class (1) |
| Fidelity® VIP Consumer Staples Initial Class (1) | TA JPMorgan Diversified Equity Allocation Initial Class (1) |
| Fidelity® VIP Contrafund® Initial Class (1) | TA JPMorgan Diversified Equity Allocation Service Class (1) |
| Fidelity® VIP Contrafund® Service Class 2 (1) | TA JPMorgan Enhanced Index Initial Class (1) |
| Fidelity® VIP Energy Service Class 2 (1) | TA JPMorgan Enhanced Index Service Class (1) |
| Fidelity® VIP Equity-Income Initial Class (1) | TA JPMorgan International Moderate Growth Initial Class (1) |
| Fidelity® VIP Equity-Income Service Class 2 (1) | TA JPMorgan International Moderate Growth Service Class (1) |
| Fidelity® VIP Growth Initial Class (1) | TA JPMorgan Tactical Allocation Service Class (1) |
| Fidelity® VIP Growth Service Class 2 (1) | TA Madison Diversified Income Service Class (1) |
| Fidelity® VIP Growth Opportunities Service Class 2 (1) | TA Market Participation Strategy Service Class (1) |
| Fidelity® VIP Health Care Service Class 2 (1) | TA Morgan Stanley Global Allocation Service Class (1) |
| Fidelity® VIP Mid Cap Initial Class (1) | TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class (1) |
| Fidelity® VIP Mid Cap Service Class 2 (1) | TA MSCI EAFE Index Service Class (1) |
| Fidelity® VIP Technology Initial Class (1) | TA Multi-Managed Balanced Initial Class (1) |
| Fidelity® VIP Utilities Initial Class (1) | TA Multi-Managed Balanced Service Class (1) |
| Fidelity® VIP Value Strategies Initial Class (1) | TA PineBridge Inflation Opportunities Service Class (1) |
| Fidelity® VIP Value Strategies Service Class 2 (1) | TA ProFunds UltraBear Service Class (OAM) (1) |
| Franklin Allocation Class 4 Shares (1) | TA S&P 500 Index Initial Class (1) |
| Franklin Income Class 2 Shares (1) | TA S&P 500 Index Service Class (1) |
| Franklin Mutual Shares Class 2 Shares (1) | TA Small/Mid Cap Value Initial Class (1) |
| Franklin Templeton Foreign Class 2 Shares (1) | TA Small/Mid Cap Value Service Class (1) |
| Invesco V.I. American Franchise Series II Shares (1) | TA T. Rowe Price Small Cap Initial Class (1) |
| Janus Henderson - Enterprise Service Shares (1) | TA T. Rowe Price Small Cap Service Class (1) |
| Janus Henderson - Global Research Service Shares (1) | TA TSW International Equity Initial Class (1) |
| Janus Henderson - Mid Cap Value Service Shares (1) | TA TSW International Equity Service Class (1) |
| MFS® New Discovery Service Class (1) | TA TSW Mid Cap Value Opportunities Service Class (1) |
| MFS® Total Return Service Class (1) | TA WMC US Growth Initial Class (1) |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares (1) | TA WMC US Growth Service Class (1) |
| Putnam VT International Value Class IB Shares (2) | Vanguard® Balanced (1) |
| State Street Total Return V.I.S. Class 3 Shares (1) | Vanguard® Capital Growth (1) |
| TA 60/40 Allocation Service Class (1) | Vanguard® Conservative Allocation (1) |
| TA Aegon Bond Initial Class (1) | Vanguard® Diversified Value (1) |
| TA Aegon Bond Service Class (1) | Vanguard® Equity Income (1) |
| TA Aegon Core Bond Service Class (1) | Vanguard® Equity Index (1) |
| TA Aegon High Yield Bond Initial Class (1) | Vanguard® Global Bond Index (1) |
| TA Aegon High Yield Bond Service Class (1) | Vanguard® Growth (1) |
| TA Aegon Sustainable Equity Income Initial Class (1) | Vanguard® High Yield Bond (1) |
| TA Aegon Sustainable Equity Income Service Class (1) | Vanguard® International (1) |
| TA Aegon U.S. Government Securities Initial Class (1) | Vanguard® Mid-Cap Index (1) |
| TA Aegon U.S. Government Securities Service Class (1) | Vanguard® Moderate Allocation (1) |
| TA American Funds Managed Risk - Balanced Service Class (1) | Vanguard® Money Market (1) |
| TA BlackRock Government Money Market Initial Class (1) | Vanguard® Real Estate Index (1) |
| TA BlackRock Government Money Market Service Class (1) | Vanguard® Short-Term Investment Grade (1) |
| TA BlackRock iShares Active Asset Allocation - Conservative Service Class (1) | Vanguard® Total Bond Market Index (1) |
| TA BlackRock iShares Active Asset Allocation - Moderate Service Class (1) | Vanguard® Total International Stock Market Index (1) |
| TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class (1) | Vanguard® Total Stock Market Index (1) |
| TA BlackRock iShares Dynamic Allocation - Balanced Service Class (1) | Voya Global Perspectives Class S Shares (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Statements of operations and changes in net assets for the years ended December 31, 2025 and 2024<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Statements of operations and change in net assets for the period October 20, 2025 through December 31, 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Statements of operations and changes in net assets for the years ended December 31, 2025 and 2024<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Statements of operations and change in net assets for the period October 20, 2025 through December 31, 2025 |

---

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

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of December 31, 2025, by correspondence with the fund companies or their transfer agents, as applicable. 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/ Ernst & Young LLP

We have served as the auditor of the Separate Account since 2024.

Chicago, IL

April 24, 2026

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Number of Shares** | **Cost** | **Assets at Market Value** | **Due (to)/from General Account** | **Net Assets** | **Units Outstanding** | **Range of Unit Values** | **Range of Unit Values** |
| AB Balanced Hedged Allocation Class B Shares | 6205920.062 | $58877511 | $61004194 | $83 | $61004277 | 12593517 | $2.022542 | $21.303571 |
| AB Large Cap Growth Class B Shares | 333159.813 | 20938927 | 27145862 | (184) | 27145678 | 4666023 | 5.181282 | 37.573255 |
| AB Relative Value Class B Shares | 7973922.093 | 231715712 | 245995497 | (83) | 245995414 | 36564982 | 2.465914 | 33.398282 |
| American Funds - Asset Allocation Class 2 Shares | 23253984.858 | 557351209 | 629020290 | (53) | 629020237 | 83794050 | 2.901767 | 28.327959 |
| American Funds - Asset Allocation Class 4 Shares | 3529808.353 | 85953576 | 94492970 | 3 | 94492973 | 5647346 | 16.003760 | 17.722624 |
| American Funds - Growth Class 2 Shares | 7372718.998 | 728544654 | 1023333397 | (219) | 1023333178 | 29598105 | 6.457847 | 66.701992 |
| American Funds - Growth Class 4 Shares | 4376485.050 | 475141755 | 588155826 | 62 | 588155888 | 22659871 | 24.843286 | 27.510790 |
| American Funds - Growth-Income Class 2 Shares | 9642554.581 | 526567820 | 639108518 | 281 | 639108799 | 25919298 | 4.696852 | 45.920483 |
| American Funds - Growth-Income Class 4 Shares | 3747032.771 | 221990261 | 242695313 | (1) | 242695312 | 10995381 | 21.106891 | 23.373490 |
| American Funds - International Class 2 Shares | 9124786.353 | 173377014 | 202752753 | (205) | 202752548 | 23782487 | 1.571628 | 19.182486 |
| American Funds - International Class 4 Shares | 2580364.672 | 47818538 | 56329361 | 11 | 56329372 | 3708223 | 14.529353 | 16.090341 |
| American Funds - New World Class 4 Shares | 1000049.974 | 26965173 | 31711585 | (2) | 31711583 | 1855255 | 16.344162 | 18.099760 |
| American Funds - The Bond Fund of America Class 2 Shares | 20214406.861 | 210147015 | 189408992 | (10) | 189408982 | 43745813 | 0.998183 | 11.902895 |
| American Funds - The Bond Fund of America Class 4 Shares | 4616445.722 | 43191762 | 42979110 | 1 | 42979111 | 4504835 | 9.132508 | 10.113976 |
| BlackRock Basic Value V.I. Class I Shares | 1413363.331 | 18715248 | 19659884 | (108) | 19659776 | 3529431 | 3.948061 | 18.407759 |
| BlackRock Global Allocation V.I. Class I Shares | 461578.112 | 7930781 | 8142238 | (29) | 8142209 | 2578765 | 2.777652 | 15.715026 |
| BlackRock High Yield V.I. Class I Shares | 350493.690 | 2501467 | 2467476 | 13310 | 2480786 | 738807 | 2.648121 | 12.935329 |
| Columbia - Acorn |  |  |  |  |  |  | 3.332842 | 27.820354 |
| Columbia - Acorn International | 14494.964 | 333035 | 296277 | 4 | 296281 | 110003 | 1.632209 | 15.290155 |
| Dimensional VA Equity Allocation | 181102.316 | 2649518 | 3339527 | (2) | 3339525 | 169657 | 19.497199 | 19.733657 |
| Dimensional VA Global Bond | 528922.729 | 5244154 | 5156997 | (3) | 5156994 | 515118 | 9.368577 | 10.699317 |
| Dimensional VA Global Moderate Allocation | 182694.620 | 3183131 | 3310427 | 1 | 3310428 | 201196 | 16.258026 | 16.455238 |
| Dimensional VA International Small | 104317.476 | 1291496 | 1541812 |  | 1541812 | 92280 | 16.522644 | 16.723056 |
| Dimensional VA International Value | 138934.887 | 1979954 | 2574463 | (2) | 2574461 | 127351 | 19.993539 | 20.235978 |
| Dimensional VA Short-Term Fixed | 308043.279 | 3156179 | 3101996 | 1 | 3101997 | 275210 | 11.146155 | 11.281478 |
| Dimensional VA U.S. Large Value | 98229.130 | 3300197 | 3429179 |  | 3429179 | 200566 | 16.925122 | 17.130431 |
| Dimensional VA U.S. Targeted Value | 110559.347 | 2505338 | 2463262 |  | 2463262 | 127481 | 19.113624 | 19.345420 |
| Fidelity® VIP Balanced Service Class 2 | 18965529.202 | 400033586 | 482672718 | (255) | 482672463 | 61586504 | 2.860329 | 32.854436 |
| Fidelity® VIP Consumer Staples Initial Class | 461080.325 | 8665663 | 8036630 | (3) | 8036627 | 594888 | 12.855204 | 14.236072 |
| Fidelity® VIP Contrafund® Initial Class | 2123.717 | 100340 | 127189 | 54 | 127243 | 11994 | 5.744778 | 54.225621 |
| Fidelity® VIP Contrafund® Service Class 2 | 19485469.889 | 936116170 | 1107943818 | 81 | 1107943899 | 69030739 | 4.497819 | 53.213164 |

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*See accompanying notes*

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Number of Shares** | **Cost** | **Assets at Market Value** | **Due (to)/from General Account** | **Net Assets** | **Units Outstanding** | **Range of Unit Values** | **Range of Unit Values** |
| Fidelity® VIP Energy Service Class 2 | 894158.396 | $23189003 | $24231693 | $- | $24231693 | 824044 | $28.142014 | $31.163081 |
| Fidelity® VIP Equity-Income Initial Class | 2264.986 | 51888 | 66659 | (5) | 66654 | 17740 | 3.366339 | 21.943693 |
| Fidelity® VIP Equity-Income Service Class 2 | 1114681.870 | 25609008 | 31356001 | 15 | 31356016 | 7913937 | 2.527177 | 21.952402 |
| Fidelity® VIP Growth Initial Class | 415.858 | 34357 | 40638 | 60 | 40698 | 5452 | 7.206631 | 45.586266 |
| Fidelity® VIP Growth Service Class 2 | 426698.418 | 37548839 | 39631749 | 110 | 39631859 | 6132835 | 5.416056 | 42.750063 |
| Fidelity® VIP Growth Opportunities Service Class 2 | 38330.115 | 1924813 | 3695023 | 117 | 3695140 | 405505 | 6.772293 | 53.157579 |
| Fidelity® VIP Health Care Service Class 2 | 744744.491 | 25256262 | 28158789 | 12 | 28158801 | 2093750 | 12.825813 | 14.203878 |
| Fidelity® VIP Mid Cap Initial Class | 1333.431 | 49822 | 50017 | 1 | 50018 | 6377 | 3.247020 | 33.020826 |
| Fidelity® VIP Mid Cap Service Class 2 | 11004634.105 | 385437423 | 387032981 | (493) | 387032488 | 35265325 | 2.875144 | 32.396161 |
| Fidelity® VIP Technology Initial Class | 3427571.105 | 130605142 | 162946730 | 15 | 162946745 | 5133927 | 30.386014 | 33.648162 |
| Fidelity® VIP Utilities Initial Class | 634214.609 | 15105658 | 16495922 | (3) | 16495919 | 864041 | 18.216237 | 20.172850 |
| Fidelity® VIP Value Strategies Initial Class | 23745.715 | 374727 | 378269 | (4) | 378265 | 33409 | 3.458734 | 31.653324 |
| Fidelity® VIP Value Strategies Service Class 2 | 14472226.351 | 229010747 | 234015900 | 120 | 234016020 | 26709378 | 0.703696 | 31.052664 |
| Franklin Allocation Class 4 Shares | 6749016.070 | 34306227 | 39009313 | (337) | 39008976 | 13527847 | 2.002729 | 15.551191 |
| Franklin Income Class 2 Shares | 1971914.778 | 28657377 | 29894228 | (20) | 29894208 | 14259275 | 1.720851 | 15.849825 |
| Franklin Mutual Shares Class 2 Shares | 503312.576 | 8128424 | 8103332 | 77 | 8103409 | 3980985 | 1.712789 | 15.795100 |
| Franklin Templeton Foreign Class 2 Shares | 737612.029 | 10170835 | 11964067 | 394 | 11964461 | 8704341 | 1.179899 | 14.582863 |
| Invesco V.I. American Franchise Series II Shares | 88515.399 | 4984721 | 6368683 | 162 | 6368845 | 1299710 | 4.288743 | 33.676098 |
| Janus Henderson - Enterprise Service Shares | 190617.882 | 13021040 | 13981822 | (301) | 13981521 | 3029789 | 3.034907 | 25.516739 |
| Janus Henderson - Global Research Service Shares | 268325.131 | 13902786 | 20505407 | (62) | 20505345 | 6822924 | 2.271310 | 28.605655 |
| Janus Henderson - Mid Cap Value Service Shares | 163326.536 | 2538516 | 2740619 | (28) | 2740591 | 712233 | 2.393457 | 16.703304 |
| MFS® New Discovery Service Class | 1863968.158 | 25085314 | 22554015 | 172 | 22554187 | 5037195 | 2.742501 | 21.954799 |
| MFS® Total Return Service Class | 1103004.165 | 25332660 | 24972014 | 87 | 24972101 | 8859440 | 1.961902 | 16.660402 |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | 265.221 | 2718 | 3878 | (1) | 3877 | 251 | 13.122306 | 15.958058 |
| Putnam VT International Value Class IB Shares | 17026.550 | 267209 | 270041 | (1) | 270040 | 25779 | 10.457125 | 10.495769 |
| State Street Total Return V.I.S. Class 3 Shares | 2370611.339 | 36726792 | 40205568 | 24 | 40205592 | 9277234 | 1.819874 | 20.565922 |
| TA 60/40 Allocation Service Class | 4783473.521 | 60615618 | 70747573 | 54 | 70747627 | 8546193 | 1.636652 | 18.761463 |
| TA Aegon Bond Initial Class | 11118390.111 | 119124868 | 105624706 | 148 | 105624854 | 66477958 | 1.079213 | 10.706424 |
| TA Aegon Bond Service Class | 38689854.608 | 422742712 | 363684633 | (121) | 363684512 | 130152497 | 1.040346 | 11.629030 |
| TA Aegon Core Bond Service Class | 16820250.374 | 222072670 | 201506599 | (48) | 201506551 | 35853779 | 0.980257 | 11.859371 |

---

*See accompanying notes*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Number of Shares** | **Cost** | **Assets at Market Value** | **Due (to)/from General Account** | **Net Assets** | **Units Outstanding** | **Range of Unit Values** | **Range of Unit Values** |
| TA Aegon High Yield Bond Initial Class | 6288161.238 | 44986792 | 44331537 | 12 | 44331549 | 15520058 | 1.561270 | 16.905282 |
| TA Aegon High Yield Bond Service Class | 14800357.008 | $107798979 | $107006581 | $(26) | $107006555 | 14537501 | $1.747637 | $16.479945 |
| TA Aegon Sustainable Equity Income Initial Class | 7945162.062 | 151314684 | 180037372 | 19 | 180037391 | 50859174 | 1.677469 | 24.396018 |
| TA Aegon Sustainable Equity Income Service Class | 4638174.043 | 84714312 | 105379314 | 135 | 105379449 | 16234031 | 1.763589 | 23.746206 |
| TA Aegon U.S. Government Securities Initial Class | 4701737.555 | 45204458 | 42174586 | 6 | 42174592 | 29312880 | 0.916222 | 10.080771 |
| TA Aegon U.S. Government Securities Service Class | 11484132.886 | 112031223 | 107606325 | (107) | 107606218 | 35371915 | 0.926287 | 10.658421 |
| TA American Funds Managed Risk - Balanced Service Class | 60311339.173 | 676224127 | 743638812 | (1021) | 743637791 | 44634119 | 14.414881 | 18.655299 |
| TA BlackRock Government Money Market Initial Class | 103860472.133 | 103860468 | 103860472 | (574) | 103859898 | 97912403 | 0.799281 | 10.823810 |
| TA BlackRock Government Money Market Service Class | 411364148.528 | 411364144 | 411364149 | (3859) | 411360290 | 116351568 | 0.779954 | 11.469309 |
| TA BlackRock iShares Active Asset Allocation - Conservative Service Class | 17008580.930 | 169029675 | 168044780 | (189) | 168044591 | 49004636 | 1.178681 | 15.113141 |
| TA BlackRock iShares Active Asset Allocation - Moderate Service Class | 66506832.946 | 705584312 | 750862144 | 63 | 750862207 | 149806710 | 1.279186 | 15.900755 |
| TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | 21712786.821 | 232883274 | 269021429 | (373) | 269021056 | 68577192 | 1.277067 | 16.412737 |
| TA BlackRock iShares Dynamic Allocation - Balanced Service Class | 47492581.964 | 548112266 | 569436058 | 13 | 569436071 | 84544995 | 1.230058 | 16.082334 |
| TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | 18509005.739 | 226951661 | 258570810 | (286) | 258570524 | 39038641 | 1.508157 | 18.543579 |
| TA BlackRock iShares Edge 100 Service Class | 4472450.668 | 63430127 | 73929610 | 12 | 73929622 | 3151537 | 18.911459 | 25.748664 |
| TA BlackRock iShares Edge 40 Initial Class | 1564380.415 | 14459568 | 14423587 | 229 | 14423816 | 6630715 | 1.562414 | 14.133986 |
| TA BlackRock iShares Edge 40 Service Class | 17836426.416 | 163200518 | 163203302 | (69) | 163203233 | 47653095 | 1.233072 | 16.355479 |
| TA BlackRock iShares Edge 50 Service Class | 26498658.291 | 340581637 | 370981216 | 86 | 370981302 | 23621150 | 13.381238 | 17.225428 |
| TA BlackRock iShares Edge 75 Service Class | 8396835.780 | 119965877 | 132921910 | 95 | 132922005 | 6982051 | 16.010673 | 21.038895 |
| TA BlackRock iShares Tactical - Balanced Service Class | 25754426.121 | 286543571 | 282268510 | (197) | 282268313 | 58331392 | 1.291871 | 17.797231 |
| TA BlackRock iShares Tactical - Conservative Service Class | 12470037.294 | 137663359 | 129813088 | (481) | 129812607 | 25429085 | 1.159675 | 16.292568 |
| TA BlackRock iShares Tactical - Growth Service Class | 16595445.338 | 176575740 | 192507166 | 267 | 192507433 | 27578332 | 1.458910 | 20.992426 |
| TA BlackRock Real Estate Securities Initial Class | 2157070.920 | 22729405 | 22368825 | 178 | 22369003 | 7353569 | 1.180818 | 14.170976 |
| TA BlackRock Real Estate Securities Service Class | 5390294.090 | 59664931 | 60317391 | (148) | 60317243 | 12111319 | 1.113737 | 13.830821 |
| TA BlackRock Tactical Allocation Service Class | 41883907.938 | 618847217 | 682707699 | 277 | 682707976 | 142882040 | 1.689851 | 20.893664 |
| TA Goldman Sachs 70/30 Service Class | 822911.477 | 10712861 | 12261381 | (1) | 12261380 | 717972 | 16.308480 | 18.060055 |
| TA Goldman Sachs Managed Risk - Balanced ETF Service Class | 259793183.477 | 3035997932 | 3224033407 | (236) | 3224033171 | 505482219 | 1.362323 | 18.223874 |
| TA Goldman Sachs Managed Risk - Conservative ETF Service Class | 28848770.879 | 345221869 | 343588861 | (833) | 343588028 | 88725901 | 1.273260 | 16.094062 |

---

*See accompanying notes*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Number of Shares** | **Cost** | **Assets at Market Value** | **Due (to)/from General Account** | **Net Assets** | **Units Outstanding** | **Range of Unit Values** | **Range of Unit Values** |
| TA Goldman Sachs Managed Risk - Growth ETF Service Class | 125944044.991 | 1299526999 | 1481101969 | (341) | 1481101628 | 304451735 | 1.742675 | 22.412325 |
| TA Great Lakes Advisors Large Cap Value Service Class | 4685618.599 | 59660136 | 75766453 | (21) | 75766432 | 5699433 | 1.780382 | 20.408781 |
| TA International Focus Initial Class | 6957468.773 | $57266731 | $53155061 | $(55) | $53155006 | 25936901 | $1.535837 | $17.096546 |
| TA International Focus Service Class | 10316027.537 | 84957981 | 76544924 | (172) | 76544752 | 10472945 | 1.305358 | 16.667682 |
| TA Janus Balanced Service Class | 42516436.221 | 700504847 | 728731717 | 218 | 728731935 | 81530981 | 2.215573 | 28.131621 |
| TA Janus Mid-Cap Growth Initial Class | 2064517.329 | 71089267 | 65176812 | (40) | 65176772 | 18708161 | 2.801415 | 32.138619 |
| TA Janus Mid-Cap Growth Service Class | 6652569.540 | 208046255 | 186538050 | 139 | 186538189 | 11160712 | 2.701069 | 31.307502 |
| TA JPMorgan Asset Allocation - Conservative Initial Class | 10699676.391 | 102332043 | 101539929 | (3) | 101539926 | 47321900 | 1.538791 | 13.710076 |
| TA JPMorgan Asset Allocation - Conservative Service Class | 53605352.162 | 515925054 | 501210043 | (117) | 501209926 | 135727067 | 1.336682 | 16.050136 |
| TA JPMorgan Asset Allocation - Moderate Initial Class | 21198475.690 | 236081221 | 250142013 | 39 | 250142052 | 97606246 | 1.810042 | 15.502884 |
| TA JPMorgan Asset Allocation - Moderate Service Class | 336251759.176 | 3734149857 | 3887070336 | 18 | 3887070354 | 646292689 | 1.562157 | 18.766578 |
| TA JPMorgan Asset Allocation - Moderate Growth Initial Class | 29440007.530 | 330013765 | 358579292 | (90) | 358579202 | 115210587 | 2.174645 | 18.179957 |
| TA JPMorgan Asset Allocation - Moderate Growth Service Class | 165798116.266 | 1809616537 | 1972997584 | (140) | 1972997444 | 451491732 | 1.786313 | 22.838353 |
| TA JPMorgan Diversified Equity Allocation Initial Class | 18794798.798 | 212230797 | 251474408 | 265 | 251474673 | 60227351 | 2.863475 | 24.220208 |
| TA JPMorgan Diversified Equity Allocation Service Class | 18171533.526 | 198193363 | 238592235 | (147) | 238592088 | 26764774 | 2.302130 | 31.718567 |
| TA JPMorgan Enhanced Index Initial Class | 5782757.924 | 138323500 | 169030014 | (53) | 169029961 | 24314141 | 4.495002 | 50.067165 |
| TA JPMorgan Enhanced Index Service Class | 5192780.396 | 131601417 | 150434848 | 22 | 150434870 | 5422257 | 4.118832 | 48.788885 |
| TA JPMorgan International Moderate Growth Initial Class |  |  |  |  |  |  | 1.919061 | 15.314592 |
| TA JPMorgan International Moderate Growth Service Class | 29136459.693 | 275824111 | 300105535 | (103) | 300105432 | 110374473 | 1.212138 | 17.139437 |
| TA JPMorgan Tactical Allocation Service Class | 52390968.401 | 780121939 | 742380022 | (95) | 742379927 | 119783509 | 1.294643 | 15.636929 |
| TA Madison Diversified Income Service Class | 8794154.904 | 108405034 | 101660431 | 160 | 101660591 | 19822636 | 1.510681 | 16.476858 |
| TA Market Participation Strategy Service Class | 21665309.315 | 238196638 | 256950568 | (115) | 256950453 | 33676487 | 1.986413 | 24.301119 |
| TA Morgan Stanley Global Allocation Service Class | 46116389.846 | 636876267 | 661770194 | (22) | 661770172 | 164520778 | 1.730639 | 20.364133 |
| TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | 25685969.563 | 204989282 | 178260629 | (296) | 178260333 | 14364112 | 10.940005 | 13.936988 |
| TA MSCI EAFE Index Service Class | 6397266.126 | 81410733 | 103891602 | (3) | 103891599 | 6223807 | 14.982515 | 18.237624 |
| TA Multi-Managed Balanced Initial Class | 5855577.521 | 92883031 | 94274798 | (131) | 94274667 | 20665299 | 3.025101 | 20.879770 |
| TA Multi-Managed Balanced Service Class | 56509372.746 | 851318668 | 875330184 | 147 | 875330331 | 82996121 | 2.295235 | 28.877748 |
| TA PineBridge Inflation Opportunities Service Class | 7914598.788 | 82906417 | 78512820 | 16 | 78512836 | 30924621 | 0.970175 | 11.705653 |
| TA ProFunds UltraBear Service Class (OAM) | 2219661.888 | 12329152 | 8878648 | (85) | 8878563 | 1340128 | 6.580266 | 6.719072 |
| TA S&P 500 Index Initial Class | 685665.990 | 16395022 | 19466057 |  | 19466057 | 1801364 | 1.677234 | 17.288528 |

---

*See accompanying notes*

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Number of Shares** | **Cost** | **Assets at Market Value** | **Due (to)/from General Account** | **Net Assets** | **Units Outstanding** | **Range of Unit Values** | **Range of Unit Values** |
| TA S&P 500 Index Service Class | 32180008.022 | 652733226 | 905867226 | 192 | 905867418 | 31979561 | 25.427121 | 30.949459 |
| TA Small/Mid Cap Value Initial Class | 4319073.165 | 82256725 | 83444494 | 62 | 83444556 | 8578949 | 2.951685 | 30.357712 |
| TA Small/Mid Cap Value Service Class | 9892646.189 | $183758742 | $181431131 | $57 | $181431188 | 13964519 | $2.844925 | $29.564740 |
| TA T. Rowe Price Small Cap Initial Class | 8721179.552 | 111568108 | 101340106 | 68 | 101340174 | 20049814 | 3.617374 | 36.250439 |
| TA T. Rowe Price Small Cap Service Class | 37253255.104 | 390097591 | 357258716 | 22 | 357258738 | 17959130 | 3.489608 | 35.327965 |
| TA TSW International Equity Initial Class | 4174680.541 | 58528107 | 74392807 | (106) | 74392701 | 24344780 | 1.690016 | 21.350832 |
| TA TSW International Equity Service Class | 3682280.163 | 53741514 | 64808131 | (8) | 64808123 | 6988010 | 1.402835 | 20.784459 |
| TA TSW Mid Cap Value Opportunities Service Class | 20261412.519 | 266418647 | 204235038 | (175) | 204234863 | 20072747 | 2.140673 | 28.283777 |
| TA WMC US Growth Initial Class | 18134969.468 | 630456888 | 759129822 | 355 | 759130177 | 124073301 | 4.820971 | 62.065672 |
| TA WMC US Growth Service Class | 23336816.111 | 749866940 | 906168570 | 131 | 906168701 | 31876502 | 4.474892 | 60.458606 |
| Vanguard® Balanced | 2714070.918 | 62679003 | 68964542 | (9) | 68964533 | 4359547 | 14.895691 | 17.010898 |
| Vanguard® Capital Growth | 105106.398 | 4953894 | 6497678 | 8 | 6497686 | 292855 | 21.953468 | 22.219752 |
| Vanguard® Conservative Allocation | 1118560.076 | 28102729 | 29597100 | 2 | 29597102 | 2357472 | 11.858895 | 13.543243 |
| Vanguard® Diversified Value | 225690.054 | 3454791 | 3942805 | (1) | 3942804 | 192208 | 20.291878 | 20.537957 |
| Vanguard® Equity Income | 199782.079 | 4903724 | 5238286 |  | 5238286 | 284729 | 18.183767 | 18.404335 |
| Vanguard® Equity Index | 282309.978 | 16124560 | 23138126 |  | 23138126 | 508097 | 5.596682 | 50.368705 |
| Vanguard® Global Bond Index | 88248.928 | 1693245 | 1661727 | (1) | 1661726 | 161946 | 10.161495 | 10.284791 |
| Vanguard® Growth | 467789.772 | 14176929 | 17158529 | 3 | 17158532 | 710544 | 23.875597 | 24.165176 |
| Vanguard® High Yield Bond | 530108.103 | 3769856 | 4002316 | (2) | 4002314 | 315687 | 12.527486 | 12.679470 |
| Vanguard® International | 375980.666 | 9728579 | 10749287 | (5) | 10749282 | 462077 | 2.533202 | 27.895141 |
| Vanguard® Mid-Cap Index | 1944173.387 | 48522322 | 54359088 | (17) | 54359071 | 1719004 | 3.719332 | 34.899932 |
| Vanguard® Moderate Allocation | 1179891.306 | 34792305 | 39266783 | (10) | 39266773 | 2706005 | 13.469850 | 15.382688 |
| Vanguard® Money Market | 12138626.770 | 12138627 | 12138627 | (55) | 12138572 | 1050423 | 11.426152 | 11.564880 |
| Vanguard® Real Estate Index | 946682.816 | 11619255 | 10953120 | 8 | 10953128 | 625218 | 2.109847 | 18.404179 |
| Vanguard® Short-Term Investment Grade | 1866248.718 | 19026808 | 19912874 | 19 | 19912893 | 1730690 | 1.245187 | 12.815922 |
| Vanguard® Total Bond Market Index | 2049796.240 | 21733531 | 22137799 | 10 | 22137809 | 1941406 | 1.193834 | 11.686815 |
| Vanguard® Total International Stock Market Index | 424698.594 | 8906027 | 11407404 | 7 | 11407411 | 709977 | 15.892862 | 16.085656 |
| Vanguard® Total Stock Market Index | 487482.920 | 24238035 | 29702334 | 16 | 29702350 | 1359962 | 21.630698 | 21.893048 |
| Voya Global Perspectives Class S Shares | 155.461 | 1345 | 1466 |  | 1466 | 100 | 13.377748 | 14.841159 |

---

*See accompanying notes*

---

| | | | |
|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Net Assets Representing: Accumulation Units** | **Net Assets Representing: Contracts in Payout (Annuitization) Period** | **Total Net Assets** |
| AB Balanced Hedged Allocation Class B Shares | $60847653 | $156624 | $61004277 |
| AB Large Cap Growth Class B Shares | 26944500 | 201178 | 27145678 |
| AB Relative Value Class B Shares | 238826194 | 7169220 | 245995414 |
| American Funds - Asset Allocation Class 2 Shares | 628676427 | 343810 | 629020237 |
| American Funds - Asset Allocation Class 4 Shares | 94492973 |  | 94492973 |
| American Funds - Growth Class 2 Shares | 1022991143 | 342035 | 1023333178 |
| American Funds - Growth Class 4 Shares | 588155888 |  | 588155888 |
| American Funds - Growth-Income Class 2 Shares | 638972087 | 136712 | 639108799 |
| American Funds - Growth-Income Class 4 Shares | 242695312 |  | 242695312 |
| American Funds - International Class 2 Shares | 202738050 | 14498 | 202752548 |
| American Funds - International Class 4 Shares | 56329372 |  | 56329372 |
| American Funds - New World Class 4 Shares | 31711583 |  | 31711583 |
| American Funds - The Bond Fund of America Class 2 Shares | 189316065 | 92917 | 189408982 |
| American Funds - The Bond Fund of America Class 4 Shares | 42979111 |  | 42979111 |
| BlackRock Basic Value V.I. Class I Shares | 17708527 | 1951249 | 19659776 |
| BlackRock Global Allocation V.I. Class I Shares | 7716527 | 425682 | 8142209 |
| BlackRock High Yield V.I. Class I Shares | 2336650 | 144136 | 2480786 |
| Columbia - Acorn |  |  |  |
| Columbia - Acorn International | 296281 |  | 296281 |
| Dimensional VA Equity Allocation | 3339525 |  | 3339525 |
| Dimensional VA Global Bond | 5156994 |  | 5156994 |
| Dimensional VA Global Moderate Allocation | 3310428 |  | 3310428 |
| Dimensional VA International Small | 1541812 |  | 1541812 |
| Dimensional VA International Value | 2574461 |  | 2574461 |
| Dimensional VA Short-Term Fixed | 3101997 |  | 3101997 |
| Dimensional VA U.S. Large Value | 3429179 |  | 3429179 |
| Dimensional VA U.S. Targeted Value | 2463262 |  | 2463262 |
| Fidelity® VIP Balanced Service Class 2 | 482269284 | 403179 | 482672463 |
| Fidelity® VIP Consumer Staples Initial Class | 8036627 |  | 8036627 |
| Fidelity® VIP Contrafund® Initial Class | 127243 |  | 127243 |
| Fidelity® VIP Contrafund® Service Class 2 | 1085135422 | 22808477 | 1107943899 |
| Fidelity® VIP Energy Service Class 2 | 24231693 |  | 24231693 |
| Fidelity® VIP Equity-Income Initial Class | 66654 |  | 66654 |
| Fidelity® VIP Equity-Income Service Class 2 | 31009862 | 346154 | 31356016 |
| Fidelity® VIP Growth Initial Class | 40698 |  | 40698 |
| Fidelity® VIP Growth Service Class 2 | 39040730 | 591129 | 39631859 |
| Fidelity® VIP Growth Opportunities Service Class 2 | 3427078 | 268062 | 3695140 |
| Fidelity® VIP Health Care Service Class 2 | 28158801 |  | 28158801 |
| Fidelity® VIP Mid Cap Initial Class | 50018 |  | 50018 |
| Fidelity® VIP Mid Cap Service Class 2 | 380531628 | 6500860 | 387032488 |
| Fidelity® VIP Technology Initial Class | 162946745 |  | 162946745 |

---

*See accompanying notes.*

---

| | | | |
|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Net Assets Representing: Accumulation Units** | **Net Assets Representing: Contracts in Payout (Annuitization) Period** | **Total Net Assets** |
| Fidelity® VIP Utilities Initial Class | $16495919 | $- | $16495919 |
| Fidelity® VIP Value Strategies Initial Class | 322332 | 55933 | 378265 |
| Fidelity® VIP Value Strategies Service Class 2 | 228640248 | 5375772 | 234016020 |
| Franklin Allocation Class 4 Shares | 39008976 |  | 39008976 |
| Franklin Income Class 2 Shares | 29660692 | 233516 | 29894208 |
| Franklin Mutual Shares Class 2 Shares | 8088540 | 14869 | 8103409 |
| Franklin Templeton Foreign Class 2 Shares | 11834319 | 130142 | 11964461 |
| Invesco V.I. American Franchise Series II Shares | 6354042 | 14803 | 6368845 |
| Janus Henderson - Enterprise Service Shares | 13729952 | 251569 | 13981521 |
| Janus Henderson - Global Research Service Shares | 20219338 | 286007 | 20505345 |
| Janus Henderson - Mid Cap Value Service Shares | 2732409 | 8182 | 2740591 |
| MFS® New Discovery Service Class | 22303999 | 250188 | 22554187 |
| MFS® Total Return Service Class | 24792299 | 179802 | 24972101 |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | 3877 |  | 3877 |
| Putnam VT International Value Class IB Shares | 270040 |  | 270040 |
| State Street Total Return V.I.S. Class 3 Shares | 40189410 | 16182 | 40205592 |
| TA 60/40 Allocation Service Class | 70747627 |  | 70747627 |
| TA Aegon Bond Initial Class | 93088976 | 12535878 | 105624854 |
| TA Aegon Bond Service Class | 363263791 | 420721 | 363684512 |
| TA Aegon Core Bond Service Class | 201487096 | 19455 | 201506551 |
| TA Aegon High Yield Bond Initial Class | 42048998 | 2282551 | 44331549 |
| TA Aegon High Yield Bond Service Class | 106994222 | 12333 | 107006555 |
| TA Aegon Sustainable Equity Income Initial Class | 173693650 | 6343741 | 180037391 |
| TA Aegon Sustainable Equity Income Service Class | 105269831 | 109618 | 105379449 |
| TA Aegon U.S. Government Securities Initial Class | 34397380 | 7777212 | 42174592 |
| TA Aegon U.S. Government Securities Service Class | 107128951 | 477267 | 107606218 |
| TA American Funds Managed Risk - Balanced Service Class | 743637791 |  | 743637791 |
| TA BlackRock Government Money Market Initial Class | 78001414 | 25858484 | 103859898 |
| TA BlackRock Government Money Market Service Class | 410959753 | 400537 | 411360290 |
| TA BlackRock iShares Active Asset Allocation - Conservative Service Class | 167755216 | 289375 | 168044591 |
| TA BlackRock iShares Active Asset Allocation - Moderate Service Class | 750387959 | 474248 | 750862207 |
| TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | 268664833 | 356223 | 269021056 |
| TA BlackRock iShares Dynamic Allocation - Balanced Service Class | 569009155 | 426916 | 569436071 |
| TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | 258552923 | 17601 | 258570524 |
| TA BlackRock iShares Edge 100 Service Class | 73929622 |  | 73929622 |
| TA BlackRock iShares Edge 40 Initial Class | 13263582 | 1160234 | 14423816 |
| TA BlackRock iShares Edge 40 Service Class | 162882085 | 321148 | 163203233 |
| TA BlackRock iShares Edge 50 Service Class | 370981302 |  | 370981302 |
| TA BlackRock iShares Edge 75 Service Class | 132922005 |  | 132922005 |
| TA BlackRock iShares Tactical - Balanced Service Class | 282117424 | 150889 | 282268313 |
| TA BlackRock iShares Tactical - Conservative Service Class | 129627115 | 185492 | 129812607 |

---

*See accompanying notes.*

---

| | | | |
|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Net Assets Representing: Accumulation Units** | **Net Assets Representing: Contracts in Payout (Annuitization) Period** | **Total Net Assets** |
| TA BlackRock iShares Tactical - Growth Service Class | $192421745 | $85688 | $192507433 |
| TA BlackRock Real Estate Securities Initial Class | 21235611 | 1133392 | 22369003 |
| TA BlackRock Real Estate Securities Service Class | 60237918 | 79325 | 60317243 |
| TA BlackRock Tactical Allocation Service Class | 674830540 | 7877436 | 682707976 |
| TA Goldman Sachs 70/30 Service Class | 12261380 |  | 12261380 |
| TA Goldman Sachs Managed Risk - Balanced ETF Service Class | 3220158680 | 3874491 | 3224033171 |
| TA Goldman Sachs Managed Risk - Conservative ETF Service Class | 340933694 | 2654334 | 343588028 |
| TA Goldman Sachs Managed Risk - Growth ETF Service Class | 1477553095 | 3548533 | 1481101628 |
| TA Great Lakes Advisors Large Cap Value Service Class | 75766432 |  | 75766432 |
| TA International Focus Initial Class | 50741364 | 2413642 | 53155006 |
| TA International Focus Service Class | 76530362 | 14390 | 76544752 |
| TA Janus Balanced Service Class | 728643342 | 88593 | 728731935 |
| TA Janus Mid-Cap Growth Initial Class | 61531129 | 3645643 | 65176772 |
| TA Janus Mid-Cap Growth Service Class | 186510909 | 27280 | 186538189 |
| TA JPMorgan Asset Allocation - Conservative Initial Class | 86886501 | 14653425 | 101539926 |
| TA JPMorgan Asset Allocation - Conservative Service Class | 499668476 | 1541450 | 501209926 |
| TA JPMorgan Asset Allocation - Moderate Initial Class | 213320555 | 36821497 | 250142052 |
| TA JPMorgan Asset Allocation - Moderate Service Class | 3883119818 | 3950536 | 3887070354 |
| TA JPMorgan Asset Allocation - Moderate Growth Initial Class | 330811615 | 27767587 | 358579202 |
| TA JPMorgan Asset Allocation - Moderate Growth Service Class | 1969720292 | 3277152 | 1972997444 |
| TA JPMorgan Diversified Equity Allocation Initial Class | 230365192 | 21109481 | 251474673 |
| TA JPMorgan Diversified Equity Allocation Service Class | 238590174 | 1914 | 238592088 |
| TA JPMorgan Enhanced Index Initial Class | 154712713 | 14317248 | 169029961 |
| TA JPMorgan Enhanced Index Service Class | 150434870 |  | 150434870 |
| TA JPMorgan International Moderate Growth Initial Class |  |  |  |
| TA JPMorgan International Moderate Growth Service Class | 299042498 | 1062934 | 300105432 |
| TA JPMorgan Tactical Allocation Service Class | 742102044 | 277883 | 742379927 |
| TA Madison Diversified Income Service Class | 101640837 | 19754 | 101660591 |
| TA Market Participation Strategy Service Class | 256753786 | 196667 | 256950453 |
| TA Morgan Stanley Global Allocation Service Class | 658901815 | 2868357 | 661770172 |
| TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | 178260333 |  | 178260333 |
| TA MSCI EAFE Index Service Class | 103891599 |  | 103891599 |
| TA Multi-Managed Balanced Initial Class | 87271519 | 7003148 | 94274667 |
| TA Multi-Managed Balanced Service Class | 874974354 | 355977 | 875330331 |
| TA PineBridge Inflation Opportunities Service Class | 78396549 | 116287 | 78512836 |
| TA ProFunds UltraBear Service Class (OAM) | 8878563 |  | 8878563 |
| TA S&P 500 Index Initial Class | 19466057 |  | 19466057 |
| TA S&P 500 Index Service Class | 905867418 |  | 905867418 |
| TA Small/Mid Cap Value Initial Class | 80312723 | 3131833 | 83444556 |
| TA Small/Mid Cap Value Service Class | 181423767 | 7421 | 181431188 |
| TA T. Rowe Price Small Cap Initial Class | 95837818 | 5502356 | 101340174 |

---

*See accompanying notes.*

---

| | | | |
|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** | **Statements of Assets and Liabilities** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **Subaccount** | **Net Assets Representing: Accumulation Units** | **Net Assets Representing: Contracts in Payout (Annuitization) Period** | **Total Net Assets** |
| TA T. Rowe Price Small Cap Service Class | $357121571 | $137167 | $357258738 |
| TA TSW International Equity Initial Class | 69830185 | 4562516 | 74392701 |
| TA TSW International Equity Service Class | 64753395 | 54728 | 64808123 |
| TA TSW Mid Cap Value Opportunities Service Class | 202493997 | 1740866 | 204234863 |
| TA WMC US Growth Initial Class | 696517914 | 62612263 | 759130177 |
| TA WMC US Growth Service Class | 905582258 | 586443 | 906168701 |
| Vanguard® Balanced | 68964533 |  | 68964533 |
| Vanguard® Capital Growth | 6497686 |  | 6497686 |
| Vanguard® Conservative Allocation | 29597102 |  | 29597102 |
| Vanguard® Diversified Value | 3942804 |  | 3942804 |
| Vanguard® Equity Income | 5238286 |  | 5238286 |
| Vanguard® Equity Index | 23031933 | 106193 | 23138126 |
| Vanguard® Global Bond Index | 1661726 |  | 1661726 |
| Vanguard® Growth | 17158532 |  | 17158532 |
| Vanguard® High Yield Bond | 4002314 |  | 4002314 |
| Vanguard® International | 10749282 |  | 10749282 |
| Vanguard® Mid-Cap Index | 54359071 |  | 54359071 |
| Vanguard® Moderate Allocation | 39266773 |  | 39266773 |
| Vanguard® Money Market | 12138572 |  | 12138572 |
| Vanguard® Real Estate Index | 10940653 | 12475 | 10953128 |
| Vanguard® Short-Term Investment Grade | 19842048 | 70845 | 19912893 |
| Vanguard® Total Bond Market Index | 22137809 |  | 22137809 |
| Vanguard® Total International Stock Market Index | 11407411 |  | 11407411 |
| Vanguard® Total Stock Market Index | 29702350 |  | 29702350 |
| Voya Global Perspectives Class S Shares | 1466 |  | 1466 |

---

*See accompanying notes.*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | AB Balanced Hedged Allocation Class B Shares | AB Large Cap Growth Class B Shares | AB Relative Value Class B Shares | American Funds - Asset Allocation Class 2 Shares |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$67924719** | **$25855468** | **$252527102** | **$655500152** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1152246 |  | 3273828 | 13782874 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1020730 | 414717 | 3743284 | 10870240 |
| Net Investment Income (Loss) | 131516 | (414717) | (469456) | 2912634 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 1327235 | 1235892 | 9211829 | 28446610 |
| Realized Gain (Loss) on Investments | (2068294) | 1653050 | 3812408 | 13056630 |
| Net Realized Capital Gains (Losses) on Investments | (741059) | 2888942 | 13024237 | 41503240 |
| Net Change in Unrealized Appreciation (Depreciation) | 5081731 | 3215651 | 15163906 | 45316755 |
| Net Gain (Loss) on Investment | 4340672 | 6104593 | 28188143 | 86819995 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 4472188 | 5689876 | 27718687 | 89732629 |
| Increase (Decrease) in Net Assets from Contract Transactions | (9849610) | (3727049) | (27715375) | (102120502) |
| Total Increase (Decrease) in Net Assets | (5377422) | 1962827 | 3312 | (12387873) |
| **Net Assets as of December 31, 2024:** | **$62547297** | **$27818295** | **$252530414** | **$643112279** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1155097 |  | 2202586 | 12389341 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 947093 | 404088 | 3511265 | 10394104 |
| Net Investment Income (Loss) | 208004 | (404088) | (1308679) | 1995237 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 3201498 | 2601794 | 20567689 | 45109783 |
| Realized Gain (Loss) on Investments | (1313555) | 1622957 | 3596143 | 15718246 |
| Net Realized Capital Gains (Losses) on Investments | 1887943 | 4224751 | 24163832 | 60828029 |
| Net Change in Unrealized Appreciation (Depreciation) | 6825168 | (968852) | (2428072) | 19617499 |
| Net Gain (Loss) on Investment | 8713111 | 3255899 | 21735760 | 80445528 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 8921115 | 2851811 | 20427081 | 82440765 |
| Increase (Decrease) in Net Assets from Contract Transactions | (10464135) | (3524428) | (26962081) | (96532807) |
| Total Increase (Decrease) in Net Assets | (1543020) | (672617) | (6535000) | (14092042) |
| **Net Assets as of December 31, 2025:** | **$61004277** | **$27145678** | **$245995414** | **$629020237** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | American Funds - Asset Allocation Class 4 Shares | American Funds - Growth Class 2 Shares | American Funds - Growth Class 4 Shares | American Funds - Growth-Income Class 2 Shares |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$51793639** | **$905289115** | **$173243164** | **$623307981** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1304157 | 3180453 | 436191 | 6987217 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 878183 | 15479177 | 3490525 | 10378449 |
| Net Investment Income (Loss) | 425974 | (12298724) | (3054334) | (3391232) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 2616142 | 22256984 | 5664199 | 29719566 |
| Realized Gain (Loss) on Investments | (464211) | 60256208 | (1378724) | 35891580 |
| Net Realized Capital Gains (Losses) on Investments | 2151931 | 82513192 | 4285475 | 65611146 |
| Net Change in Unrealized Appreciation (Depreciation) | 5498105 | 178367718 | 63002585 | 68552976 |
| Net Gain (Loss) on Investment | 7650036 | 260880910 | 67288060 | 134164122 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 8076010 | 248582186 | 64233726 | 130772890 |
| Increase (Decrease) in Net Assets from Contract Transactions | 10806792 | (145371781) | 119884003 | (104253033) |
| Total Increase (Decrease) in Net Assets | 18882802 | 103210405 | 184117729 | 26519857 |
| **Net Assets as of December 31, 2024:** | **$70676441** | **$1008499520** | **$357360893** | **$649827838** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1589290 | 1554682 | 562425 | 5659605 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1143227 | 15985471 | 6163477 | 10070204 |
| Net Investment Income (Loss) | 446063 | (14430789) | (5601052) | (4410599) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 5560901 | 79449782 | 35202494 | 107504475 |
| Realized Gain (Loss) on Investments | (211621) | 77910703 | 3175214 | 37656048 |
| Net Realized Capital Gains (Losses) on Investments | 5349280 | 157360485 | 38377708 | 145160523 |
| Net Change in Unrealized Appreciation (Depreciation) | 4895515 | 26093140 | 46338034 | (44851413) |
| Net Gain (Loss) on Investment | 10244795 | 183453625 | 84715742 | 100309110 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 10690858 | 169022836 | 79114690 | 95898511 |
| Increase (Decrease) in Net Assets from Contract Transactions | 13125674 | (154189178) | 151680305 | (106617550) |
| Total Increase (Decrease) in Net Assets | 23816532 | 14833658 | 230794995 | (10719039) |
| **Net Assets as of December 31, 2025:** | **$94492973** | **$1023333178** | **$588155888** | **$639108799** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | American Funds - Growth-Income Class 4 Shares | American Funds - International Class 2 Shares | American Funds - International Class 4 Shares | American Funds - New World Class 4 Shares |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$88521439** | **$202507533** | **$24678048** | **$13127105** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1345720 | 2316803 | 338257 | 218816 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1669500 | 3211209 | 402979 | 228462 |
| Net Investment Income (Loss) | (323780) | (894406) | (64722) | (9646) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 5383686 |  |  | 76727 |
| Realized Gain (Loss) on Investments | 405245 | (2362266) | (785380) | (218272) |
| Net Realized Capital Gains (Losses) on Investments | 5788931 | (2362266) | (785380) | (141545) |
| Net Change in Unrealized Appreciation (Depreciation) | 17739434 | 7499803 | 782692 | 748658 |
| Net Gain (Loss) on Investment | 23528365 | 5137537 | (2688) | 607113 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 23204585 | 4243131 | (67410) | 597467 |
| Increase (Decrease) in Net Assets from Contract Transactions | 55254934 | (23503302) | 9964708 | 5843031 |
| Total Increase (Decrease) in Net Assets | 78459519 | (19260171) | 9897298 | 6440498 |
| **Net Assets as of December 31, 2024:** | **$166980958** | **$183247362** | **$34575346** | **$19567603** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1604039 | 2506971 | 593091 | 258788 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 2677398 | 3024062 | 589245 | 331280 |
| Net Investment Income (Loss) | (1073359) | (517091) | 3846 | (72492) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 32916017 |  |  | 947380 |
| Realized Gain (Loss) on Investments | 949789 | 822158 | (745988) | 34154 |
| Net Realized Capital Gains (Losses) on Investments | 33865806 | 822158 | (745988) | 981534 |
| Net Change in Unrealized Appreciation (Depreciation) | (1829139) | 42359397 | 10692654 | 4699112 |
| Net Gain (Loss) on Investment | 32036667 | 43181555 | 9946666 | 5680646 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 30963308 | 42664464 | 9950512 | 5608154 |
| Increase (Decrease) in Net Assets from Contract Transactions | 44751046 | (23159278) | 11803514 | 6535826 |
| Total Increase (Decrease) in Net Assets | 75714354 | 19505186 | 21754026 | 12143980 |
| **Net Assets as of December 31, 2025:** | **$242695312** | **$202752548** | **$56329372** | **$31711583** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | American Funds - The Bond Fund of America Class 2 Shares | American Funds - The Bond Fund of America Class 4 Shares | BlackRock Basic Value V.I. Class I Shares | BlackRock Global Allocation V.I. Class I Shares |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$205754769** | **$23472254** | **$18096054** | **$7932144** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 8155782 | 1360854 | 373653 | 103774 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 3223608 | 406968 | 285543 | 122400 |
| Net Investment Income (Loss) | 4932174 | 953886 | 88110 | (18626) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  | 1342954 | 486385 |
| Realized Gain (Loss) on Investments | (5530333) | (946978) | (72740) | 88686 |
| Net Realized Capital Gains (Losses) on Investments | (5530333) | (946978) | 1270214 | 575071 |
| Net Change in Unrealized Appreciation (Depreciation) | (348713) | 61459 | 190070 | 25510 |
| Net Gain (Loss) on Investment | (5879046) | (885519) | 1460284 | 600581 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (946872) | 68367 | 1548394 | 581955 |
| Increase (Decrease) in Net Assets from Contract Transactions | (9447545) | 11526669 | (1611545) | (787173) |
| Total Increase (Decrease) in Net Assets | (10394417) | 11595036 | (63151) | (205218) |
| **Net Assets as of December 31, 2024:** | **$195360352** | **$35067290** | **$18032903** | **$7726926** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 8106503 | 1636108 | 379678 | 265520 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 3092990 | 506705 | 281886 | 119474 |
| Net Investment Income (Loss) | 5013513 | 1129403 | 97792 | 146046 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  | 2297364 | 611996 |
| Realized Gain (Loss) on Investments | (6983758) | (469281) | (24533) | 88261 |
| Net Realized Capital Gains (Losses) on Investments | (6983758) | (469281) | 2272831 | 700257 |
| Net Change in Unrealized Appreciation (Depreciation) | 12461355 | 1423374 | 1387570 | 448790 |
| Net Gain (Loss) on Investment | 5477597 | 954093 | 3660401 | 1149047 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 10491110 | 2083496 | 3758193 | 1295093 |
| Increase (Decrease) in Net Assets from Contract Transactions | (16442480) | 5828325 | (2131320) | (879810) |
| Total Increase (Decrease) in Net Assets | (5951370) | 7911821 | 1626873 | 415283 |
| **Net Assets as of December 31, 2025:** | **$189408982** | **$42979111** | **$19659776** | **$8142209** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BlackRock High Yield V.I. Class I Shares | Columbia - Acorn | Columbia - Acorn International | Dimensional VA Equity Allocation |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$2614880** | **$-** | **$169801** | **$1729713** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 180972 |  | 2155 | 38446 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 38973 |  | 789 | 6391 |
| Net Investment Income (Loss) | 141999 |  | 1366 | 32055 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  | 24304 |
| Realized Gain (Loss) on Investments | (16226) |  | (6530) | 5895 |
| Net Realized Capital Gains (Losses) on Investments | (16226) |  | (6530) | 30199 |
| Net Change in Unrealized Appreciation (Depreciation) | 43062 |  | (8934) | 194546 |
| Net Gain (Loss) on Investment | 26836 |  | (15464) | 224745 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 168835 |  | (14098) | 256800 |
| Increase (Decrease) in Net Assets from Contract Transactions | (213715) |  | (12535) | 132636 |
| Total Increase (Decrease) in Net Assets | (44880) |  | (26633) | 389436 |
| **Net Assets as of December 31, 2024:** | **$2570000** | **$-** | **$143168** | **$2119149** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 171602 |  | 2687 | 63565 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 38170 |  | 1020 | 8062 |
| Net Investment Income (Loss) | 133432 |  | 1667 | 55503 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 5350 |  | 712 | 38647 |
| Realized Gain (Loss) on Investments | (23870) |  | (5636) | 8458 |
| Net Realized Capital Gains (Losses) on Investments | (18520) |  | (4924) | 47105 |
| Net Change in Unrealized Appreciation (Depreciation) | 70228 |  | 13242 | 365812 |
| Net Gain (Loss) on Investment | 51708 |  | 8318 | 412917 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 185140 |  | 9985 | 468420 |
| Increase (Decrease) in Net Assets from Contract Transactions | (274354) |  | 143128 | 751956 |
| Total Increase (Decrease) in Net Assets | (89214) |  | 153113 | 1220376 |
| **Net Assets as of December 31, 2025:** | **$2480786** | **$-** | **$296281** | **$3339525** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Dimensional VA Global Bond | Dimensional VA Global Moderate Allocation | Dimensional VA International Small | Dimensional VA International Value |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$2909169** | **$712676** | **$859817** | **$1103871** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 155360 | 36785 | 33744 | 65371 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 36766 | 3093 | 2560 | 3909 |
| Net Investment Income (Loss) | 118594 | 33692 | 31184 | 61462 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 7855 | 26390 | 33738 |
| Realized Gain (Loss) on Investments | (30411) | 2084 | (3947) | 5743 |
| Net Realized Capital Gains (Losses) on Investments | (30411) | 9939 | 22443 | 39481 |
| Net Change in Unrealized Appreciation (Depreciation) | 34578 | 68989 | (26217) | (28616) |
| Net Gain (Loss) on Investment | 4167 | 78928 | (3774) | 10865 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 122761 | 112620 | 27410 | 72327 |
| Increase (Decrease) in Net Assets from Contract Transactions | 205953 | 637262 | 101518 | 478291 |
| Total Increase (Decrease) in Net Assets | 328714 | 749882 | 128928 | 550618 |
| **Net Assets as of December 31, 2024:** | **$3237883** | **$1462558** | **$988745** | **$1654489** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 211461 | 80635 | 46516 | 98272 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 55081 | 5669 | 3567 | 6081 |
| Net Investment Income (Loss) | 156380 | 74966 | 42949 | 92191 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 30104 | 56280 | 71534 |
| Realized Gain (Loss) on Investments | (21080) | 126513 | (4004) | 40619 |
| Net Realized Capital Gains (Losses) on Investments | (21080) | 156617 | 52276 | 112153 |
| Net Change in Unrealized Appreciation (Depreciation) | (10369) | 9999 | 288099 | 579224 |
| Net Gain (Loss) on Investment | (31449) | 166616 | 340375 | 691377 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 124931 | 241582 | 383324 | 783568 |
| Increase (Decrease) in Net Assets from Contract Transactions | 1794180 | 1606288 | 169743 | 136404 |
| Total Increase (Decrease) in Net Assets | 1919111 | 1847870 | 553067 | 919972 |
| **Net Assets as of December 31, 2025:** | **$5156994** | **$3310428** | **$1541812** | **$2574461** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Dimensional VA Short-Term Fixed | Dimensional VA U.S. Large Value | Dimensional VA U.S. Targeted Value | Fidelity® VIP Balanced Service Class 2 |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$1532735** | **$1594443** | **$1311280** | **$474442207** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 127737 | 54108 | 23151 | 8196462 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 5980 | 7389 | 4205 | 6729059 |
| Net Investment Income (Loss) | 121757 | 46719 | 18946 | 1467403 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 272615 | 112779 | 16233754 |
| Realized Gain (Loss) on Investments | 14043 | 26502 | (2764) | 19171814 |
| Net Realized Capital Gains (Losses) on Investments | 14043 | 299117 | 110015 | 35405568 |
| Net Change in Unrealized Appreciation (Depreciation) | (34350) | (105891) | (15013) | 27069570 |
| Net Gain (Loss) on Investment | (20307) | 193226 | 95002 | 62475138 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 101450 | 239945 | 113948 | 63942541 |
| Increase (Decrease) in Net Assets from Contract Transactions | 1044772 | 850564 | 326185 | (50160822) |
| Total Increase (Decrease) in Net Assets | 1146222 | 1090509 | 440133 | 13781719 |
| **Net Assets as of December 31, 2024:** | **$2678957** | **$2684952** | **$1751413** | **$488223926** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 145278 | 61532 | 42735 | 7361987 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 9773 | 9567 | 5495 | 6537641 |
| Net Investment Income (Loss) | 135505 | 51965 | 37240 | 824346 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 192192 | 193341 | 25245139 |
| Realized Gain (Loss) on Investments | 6140 | 18870 | (9735) | 21483379 |
| Net Realized Capital Gains (Losses) on Investments | 6140 | 211062 | 183606 | 46728518 |
| Net Change in Unrealized Appreciation (Depreciation) | (6871) | 186613 | (41568) | 11880760 |
| Net Gain (Loss) on Investment | (731) | 397675 | 142038 | 58609278 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 134774 | 449640 | 179278 | 59433624 |
| Increase (Decrease) in Net Assets from Contract Transactions | 288266 | 294587 | 532571 | (64985087) |
| Total Increase (Decrease) in Net Assets | 423040 | 744227 | 711849 | (5551463) |
| **Net Assets as of December 31, 2025:** | **$3101997** | **$3429179** | **$2463262** | **$482672463** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fidelity® VIP Consumer Staples Initial Class | Fidelity® VIP Contrafund® Initial Class | Fidelity® VIP Contrafund® Service Class 2 | Fidelity® VIP Energy Service Class 2 |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$5142722** | **$95817** | **$818065180** | **$17617012** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 135577 | 194 | 311154 | 454172 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 97227 | 701 | 13146034 | 312773 |
| Net Investment Income (Loss) | 38350 | (507) | (12834880) | 141399 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 133134 | 12139 | 116396831 |  |
| Realized Gain (Loss) on Investments | 35140 | 2271 | 65312615 | 701250 |
| Net Realized Capital Gains (Losses) on Investments | 168274 | 14410 | 181709446 | 701250 |
| Net Change in Unrealized Appreciation (Depreciation) | 13863 | 14689 | 82676713 | (562509) |
| Net Gain (Loss) on Investment | 182137 | 29099 | 264386159 | 138741 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 220487 | 28592 | 251551279 | 280140 |
| Increase (Decrease) in Net Assets from Contract Transactions | 999518 | (16315) | (71556173) | 4478112 |
| Total Increase (Decrease) in Net Assets | 1220005 | 12277 | 179995106 | 4758252 |
| **Net Assets as of December 31, 2024:** | **$6362727** | **$108094** | **$998060286** | **$22375264** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 154874 | 166 |  | 443648 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 115882 | 773 | 14138641 | 337020 |
| Net Investment Income (Loss) | 38992 | (607) | (14138641) | 106628 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 382330 | 18856 | 173795120 |  |
| Realized Gain (Loss) on Investments | (138348) | 1556 | 71481958 | 400364 |
| Net Realized Capital Gains (Losses) on Investments | 243982 | 20412 | 245277078 | 400364 |
| Net Change in Unrealized Appreciation (Depreciation) | (612320) | 2123 | (44533285) | 1447108 |
| Net Gain (Loss) on Investment | (368338) | 22535 | 200743793 | 1847472 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (329346) | 21928 | 186605152 | 1954100 |
| Increase (Decrease) in Net Assets from Contract Transactions | 2003246 | (2779) | (76721539) | (97671) |
| Total Increase (Decrease) in Net Assets | 1673900 | 19149 | 109883613 | 1856429 |
| **Net Assets as of December 31, 2025:** | **$8036627** | **$127243** | **$1107943899** | **$24231693** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fidelity® VIP Equity-Income Initial Class | Fidelity® VIP Equity-Income Service Class 2 | Fidelity® VIP Growth Initial Class | Fidelity® VIP Growth Service Class 2 |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$53451** | **$30367510** | **$31107** | **$34909236** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1030 | 487594 |  |  |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 410 | 477125 | 277 | 587950 |
| Net Investment Income (Loss) | 620 | 10469 | (277) | (587950) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 3357 | 1839936 | 7948 | 8678782 |
| Realized Gain (Loss) on Investments | 755 | 948251 | 1161 | 2010828 |
| Net Realized Capital Gains (Losses) on Investments | 4112 | 2788187 | 9109 | 10689610 |
| Net Change in Unrealized Appreciation (Depreciation) | 2931 | 1134125 | 112 | (760132) |
| Net Gain (Loss) on Investment | 7043 | 3922312 | 9221 | 9929478 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 7663 | 3932781 | 8944 | 9341528 |
| Increase (Decrease) in Net Assets from Contract Transactions | (2294) | (3765319) | (2032) | (2917018) |
| Total Increase (Decrease) in Net Assets | 5369 | 167462 | 6912 | 6424510 |
| **Net Assets as of December 31, 2024:** | **$58820** | **$30534972** | **$38019** | **$41333746** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1131 | 492286 | 112 | 19097 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 436 | 468077 | 293 | 593334 |
| Net Investment Income (Loss) | 695 | 24209 | (181) | (574237) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 3490 | 1752358 | 4968 | 5166594 |
| Realized Gain (Loss) on Investments | 879 | 1496370 | 1210 | 2517324 |
| Net Realized Capital Gains (Losses) on Investments | 4369 | 3248728 | 6178 | 7683918 |
| Net Change in Unrealized Appreciation (Depreciation) | 5344 | 1593107 | (925) | (2285801) |
| Net Gain (Loss) on Investment | 9713 | 4841835 | 5253 | 5398117 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 10408 | 4866044 | 5072 | 4823880 |
| Increase (Decrease) in Net Assets from Contract Transactions | (2574) | (4045000) | (2393) | (6525767) |
| Total Increase (Decrease) in Net Assets | 7834 | 821044 | 2679 | (1701887) |
| **Net Assets as of December 31, 2025:** | **$66654** | **$31356016** | **$40698** | **$39631859** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fidelity® VIP Growth Opportunities Service Class 2 | Fidelity® VIP Health Care Service Class 2 | Fidelity® VIP Mid Cap Initial Class | Fidelity® VIP Mid Cap Service Class 2 |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$2839309** | **$16350368** | **$57825** | **$340699765** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  |  | 365 | 1273815 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 49633 | 290575 | 419 | 5203672 |
| Net Investment Income (Loss) | (49633) | (290575) | (54) | (3929857) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  | 8451 | 49297151 |
| Realized Gain (Loss) on Investments | 332924 | (52324) | 703 | 9235169 |
| Net Realized Capital Gains (Losses) on Investments | 332924 | (52324) | 9154 | 58532320 |
| Net Change in Unrealized Appreciation (Depreciation) | 697664 | 757567 | 460 | (2744550) |
| Net Gain (Loss) on Investment | 1030588 | 705243 | 9614 | 55787770 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 980955 | 414668 | 9560 | 51857913 |
| Increase (Decrease) in Net Assets from Contract Transactions | (526022) | 4903067 | 2991 | (17217945) |
| Total Increase (Decrease) in Net Assets | 454933 | 5317735 | 12551 | 34639968 |
| **Net Assets as of December 31, 2024:** | **$3294242** | **$21668103** | **$70376** | **$375339733** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  | 43817 | 205 | 908842 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 52488 | 356268 | 436 | 5194537 |
| Net Investment Income (Loss) | (52488) | (312451) | (231) | (4285695) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 48449 | 1560758 | 6391 | 44216555 |
| Realized Gain (Loss) on Investments | 180315 | (68077) | 3656 | 3995280 |
| Net Realized Capital Gains (Losses) on Investments | 228764 | 1492681 | 10047 | 48211835 |
| Net Change in Unrealized Appreciation (Depreciation) | 451685 | 2162794 | (2622) | (8684664) |
| Net Gain (Loss) on Investment | 680449 | 3655475 | 7425 | 39527171 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 627961 | 3343024 | 7194 | 35241476 |
| Increase (Decrease) in Net Assets from Contract Transactions | (227063) | 3147674 | (27552) | (23548721) |
| Total Increase (Decrease) in Net Assets | 400898 | 6490698 | (20358) | 11692755 |
| **Net Assets as of December 31, 2025:** | **$3695140** | **$28158801** | **$50018** | **$387032488** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Fidelity® VIP Technology Initial Class | Fidelity® VIP Utilities Initial Class | Fidelity® VIP Value Strategies Initial Class | Fidelity® VIP Value Strategies Service Class 2 |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$43654201** | **$5546884** | **$507495** | **$241899996** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  | 162401 | 4559 | 1892208 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1245647 | 122924 | 3333 | 3429119 |
| Net Investment Income (Loss) | (1245647) | 39477 | 1226 | (1536911) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 2663299 | 348039 | 63130 | 33750491 |
| Realized Gain (Loss) on Investments | 3699462 | 115318 | 30217 | 8449711 |
| Net Realized Capital Gains (Losses) on Investments | 6362761 | 463357 | 93347 | 42200202 |
| Net Change in Unrealized Appreciation (Depreciation) | 13938097 | 1082555 | (48677) | (22574048) |
| Net Gain (Loss) on Investment | 20300858 | 1545912 | 44670 | 19626154 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 19055211 | 1585389 | 45896 | 18089243 |
| Increase (Decrease) in Net Assets from Contract Transactions | 37858345 | 2641583 | (112399) | (18936944) |
| Total Increase (Decrease) in Net Assets | 56913556 | 4226972 | (66503) | (847701) |
| **Net Assets as of December 31, 2024:** | **$100567757** | **$9773856** | **$440992** | **$241052295** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  | 269367 | 4019 | 1795932 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 2176285 | 216821 | 2597 | 3148307 |
| Net Investment Income (Loss) | (2176285) | 52546 | 1422 | (1352375) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 8555499 | 526469 | 15848 | 9195915 |
| Realized Gain (Loss) on Investments | 6761146 | 403430 | 7988 | 1739707 |
| Net Realized Capital Gains (Losses) on Investments | 15316645 | 929899 | 23836 | 10935622 |
| Net Change in Unrealized Appreciation (Depreciation) | 13097617 | 388151 | 657 | 3872612 |
| Net Gain (Loss) on Investment | 28414262 | 1318050 | 24493 | 14808234 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 26237977 | 1370596 | 25915 | 13455859 |
| Increase (Decrease) in Net Assets from Contract Transactions | 36141011 | 5351467 | (88642) | (20492134) |
| Total Increase (Decrease) in Net Assets | 62378988 | 6722063 | (62727) | (7036275) |
| **Net Assets as of December 31, 2025:** | **$162946745** | **$16495919** | **$378265** | **$234016020** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Franklin Allocation Class 4 Shares | Franklin Income Class 2 Shares | Franklin Mutual Shares Class 2 Shares | Franklin Templeton Foreign Class 2 Shares |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$46977467** | **$34524329** | **$8898993** | **$12776212** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 859193 | 1726540 | 171881 | 293011 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 760789 | 493681 | 132522 | 186897 |
| Net Investment Income (Loss) | 98404 | 1232859 | 39359 | 106114 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 141457 | 178742 |  |
| Realized Gain (Loss) on Investments | (2618975) | (387054) | (238549) | 30857 |
| Net Realized Capital Gains (Losses) on Investments | (2618975) | (245597) | (59807) | 30857 |
| Net Change in Unrealized Appreciation (Depreciation) | 5729316 | 843264 | 841089 | (383553) |
| Net Gain (Loss) on Investment | 3110341 | 597667 | 781282 | (352696) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 3208745 | 1830526 | 820641 | (246582) |
| Increase (Decrease) in Net Assets from Contract Transactions | (7680357) | (4890738) | (1276233) | (1750691) |
| Total Increase (Decrease) in Net Assets | (4471612) | (3060212) | (455592) | (1997273) |
| **Net Assets as of December 31, 2024:** | **$42505855** | **$31464117** | **$8443401** | **$10778939** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 730830 | 1559733 | 163067 | 269455 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 683207 | 453496 | 122391 | 176362 |
| Net Investment Income (Loss) | 47623 | 1106237 | 40676 | 93093 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 1631034 | 327850 | 803435 | 752378 |
| Realized Gain (Loss) on Investments | (1575313) | (221391) | (166495) | 96072 |
| Net Realized Capital Gains (Losses) on Investments | 55721 | 106459 | 636940 | 848450 |
| Net Change in Unrealized Appreciation (Depreciation) | 4068256 | 1935002 | 93890 | 1811150 |
| Net Gain (Loss) on Investment | 4123977 | 2041461 | 730830 | 2659600 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 4171600 | 3147698 | 771506 | 2752693 |
| Increase (Decrease) in Net Assets from Contract Transactions | (7668479) | (4717607) | (1111498) | (1567171) |
| Total Increase (Decrease) in Net Assets | (3496879) | (1569909) | (339992) | 1185522 |
| **Net Assets as of December 31, 2025:** | **$39008976** | **$29894208** | **$8103409** | **$11964461** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Invesco V.I. American Franchise Series II Shares | Janus Henderson - Enterprise Service Shares | Janus Henderson - Global Research Service Shares | Janus Henderson - Mid Cap Value Service Shares |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$5380977** | **$17081165** | **$18716834** | **$2587633** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  | 107278 | 119691 | 23025 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 91124 | 253402 | 302052 | 39936 |
| Net Investment Income (Loss) | (91124) | (146124) | (182361) | (16911) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 758553 | 670446 | 145565 |
| Realized Gain (Loss) on Investments | 105654 | 861551 | 1834868 | 19281 |
| Net Realized Capital Gains (Losses) on Investments | 105654 | 1620104 | 2505314 | 164846 |
| Net Change in Unrealized Appreciation (Depreciation) | 1659554 | 700633 | 1548912 | 137738 |
| Net Gain (Loss) on Investment | 1765208 | 2320737 | 4054226 | 302584 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1674084 | 2174613 | 3871865 | 285673 |
| Increase (Decrease) in Net Assets from Contract Transactions | (596188) | (3699709) | (2322192) | (83306) |
| Total Increase (Decrease) in Net Assets | 1077896 | (1525096) | 1549673 | 202367 |
| **Net Assets as of December 31, 2024:** | **$6458873** | **$15556069** | **$20266507** | **$2790000** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  | 26329 | 118774 | 39271 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 93228 | 219146 | 301917 | 39535 |
| Net Investment Income (Loss) | (93228) | (192817) | (183143) | (264) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 647339 | 1253913 | 1798069 | 254662 |
| Realized Gain (Loss) on Investments | 150173 | 323458 | 2092750 | 16633 |
| Net Realized Capital Gains (Losses) on Investments | 797512 | 1577371 | 3890819 | 271295 |
| Net Change in Unrealized Appreciation (Depreciation) | (129523) | (588534) | (195950) | (143252) |
| Net Gain (Loss) on Investment | 667989 | 988837 | 3694869 | 128043 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 574761 | 796020 | 3511726 | 127779 |
| Increase (Decrease) in Net Assets from Contract Transactions | (664789) | (2370568) | (3272888) | (177188) |
| Total Increase (Decrease) in Net Assets | (90028) | (1574548) | 238838 | (49409) |
| **Net Assets as of December 31, 2025:** | **$6368845** | **$13981521** | **$20505345** | **$2740591** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | MFS® New Discovery Service Class | MFS® Total Return Service Class | NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | Putnam VT International Value Class IB Shares |
|  | Subaccount | Subaccount | Subaccount | Subaccount<sup>(1)</sup> |
| **Net Assets as of December 31, 2023:** | **$26715569** | **$27972116** | **$2828** | **$-** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  | 627476 | 40 |  |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 384964 | 405914 | 19 |  |
| Net Investment Income (Loss) | (384964) | 221562 | 21 |  |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 1345927 |  |  |
| Realized Gain (Loss) on Investments | (3258504) | 228490 | 5 |  |
| Net Realized Capital Gains (Losses) on Investments | (3258504) | 1574417 | 5 |  |
| Net Change in Unrealized Appreciation (Depreciation) | 4899680 | (193959) | 124 |  |
| Net Gain (Loss) on Investment | 1641176 | 1380458 | 129 |  |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1256212 | 1602020 | 150 |  |
| Increase (Decrease) in Net Assets from Contract Transactions | (4370935) | (3838916) | (54) |  |
| Total Increase (Decrease) in Net Assets | (3114723) | (2236896) | 96 |  |
| **Net Assets as of December 31, 2024:** | **$23600846** | **$25735220** | **$2924** | **$-** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  | 627343 | 10 |  |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 336017 | 370537 | 22 | 116 |
| Net Investment Income (Loss) | (336017) | 256806 | (12) | (116) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 1845676 |  |  |
| Realized Gain (Loss) on Investments | (2060752) | 135324 | 13 | 6 |
| Net Realized Capital Gains (Losses) on Investments | (2060752) | 1981000 | 13 | 6 |
| Net Change in Unrealized Appreciation (Depreciation) | 4696712 | (14795) | 1006 | 2834 |
| Net Gain (Loss) on Investment | 2635960 | 1966205 | 1019 | 2840 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 2299943 | 2223011 | 1007 | 2724 |
| Increase (Decrease) in Net Assets from Contract Transactions | (3346602) | (2986130) | (54) | 267316 |
| Total Increase (Decrease) in Net Assets | (1046659) | (763119) | 953 | 270040 |
| **Net Assets as of December 31, 2025:** | **$22554187** | **$24972101** | **$3877** | **$270040** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | State Street Total Return V.I.S. Class 3 Shares | TA 60/40 Allocation Service Class | TA Aegon Bond Initial Class | TA Aegon Bond Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$38814247** | **$66957043** | **$107006368** | **$447343314** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1629240 | 1011919 | 4421956 | 16501586 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 601389 | 827940 | 1678426 | 5619211 |
| Net Investment Income (Loss) | 1027851 | 183979 | 2743530 | 10882375 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 7906 | 807633 |  |  |
| Realized Gain (Loss) on Investments | (466447) | 2345680 | (2700129) | (14019706) |
| Net Realized Capital Gains (Losses) on Investments | (458541) | 3153313 | (2700129) | (14019706) |
| Net Change in Unrealized Appreciation (Depreciation) | 2875795 | 3969660 | 463357 | 5407137 |
| Net Gain (Loss) on Investment | 2417254 | 7122973 | (2236772) | (8612569) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 3445105 | 7306952 | 506758 | 2269806 |
| Increase (Decrease) in Net Assets from Contract Transactions | (4246853) | (6419928) | (2068509) | (51818644) |
| Total Increase (Decrease) in Net Assets | (801748) | 887024 | (1561751) | (49548838) |
| **Net Assets as of December 31, 2024:** | **$38012499** | **$67844067** | **$105444617** | **$397794476** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 859245 | 1446299 | 6839854 | 23462058 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 589743 | 802164 | 1674661 | 5031531 |
| Net Investment Income (Loss) | 269502 | 644135 | 5165193 | 18430527 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 1676116 | 3798707 |  |  |
| Realized Gain (Loss) on Investments | 647382 | 2516108 | (3367148) | (13398758) |
| Net Realized Capital Gains (Losses) on Investments | 2323498 | 6314815 | (3367148) | (13398758) |
| Net Change in Unrealized Appreciation (Depreciation) | 2350398 | 1661924 | 3786919 | 14899820 |
| Net Gain (Loss) on Investment | 4673896 | 7976739 | 419771 | 1501062 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 4943398 | 8620874 | 5584964 | 19931589 |
| Increase (Decrease) in Net Assets from Contract Transactions | (2750305) | (5717314) | (5404727) | (54041553) |
| Total Increase (Decrease) in Net Assets | 2193093 | 2903560 | 180237 | (34109964) |
| **Net Assets as of December 31, 2025:** | **$40205592** | **$70747627** | **$105624854** | **$363684512** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA Aegon Core Bond Service Class | TA Aegon High Yield Bond Initial Class | TA Aegon High Yield Bond Service Class | TA Aegon Sustainable Equity Income Initial Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$228615006** | **$45902229** | **$113332925** | **$180433120** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 10658796 | 2321305 | 5132267 | 3912614 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 2784695 | 691718 | 1487289 | 2827966 |
| Net Investment Income (Loss) | 7874101 | 1629587 | 3644978 | 1084648 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  |  |
| Realized Gain (Loss) on Investments | (5917544) | (625776) | (1791257) | (107327) |
| Net Realized Capital Gains (Losses) on Investments | (5917544) | (625776) | (1791257) | (107327) |
| Net Change in Unrealized Appreciation (Depreciation) | (2118193) | 1587481 | 4197107 | 25682875 |
| Net Gain (Loss) on Investment | (8035737) | 961705 | 2405850 | 25575548 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (161636) | 2591292 | 6050828 | 26660196 |
| Increase (Decrease) in Net Assets from Contract Transactions | (14746176) | (2424642) | (11077773) | (20485299) |
| Total Increase (Decrease) in Net Assets | (14907812) | 166650 | (5026945) | 6174897 |
| **Net Assets as of December 31, 2024:** | **$213707194** | **$46068879** | **$108305980** | **$186608017** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 4413939 | 3078934 | 6917124 | 3103145 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 2568231 | 667510 | 1427879 | 2716097 |
| Net Investment Income (Loss) | 1845708 | 2411424 | 5489245 | 387048 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  | 1772411 |
| Realized Gain (Loss) on Investments | (7915698) | (504197) | (926431) | (363772) |
| Net Realized Capital Gains (Losses) on Investments | (7915698) | (504197) | (926431) | 1408639 |
| Net Change in Unrealized Appreciation (Depreciation) | 17028112 | 1040940 | 2400631 | 14924975 |
| Net Gain (Loss) on Investment | 9112414 | 536743 | 1474200 | 16333614 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 10958122 | 2948167 | 6963445 | 16720662 |
| Increase (Decrease) in Net Assets from Contract Transactions | (23158765) | (4685497) | (8262870) | (23291288) |
| Total Increase (Decrease) in Net Assets | (12200643) | (1737330) | (1299425) | (6570626) |
| **Net Assets as of December 31, 2025:** | **$201506551** | **$44331549** | **$107006555** | **$180037391** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA Aegon Sustainable Equity Income Service Class | TA Aegon U.S. Government Securities Initial Class | TA Aegon U.S. Government Securities Service Class | TA American Funds Managed Risk - Balanced Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$104927601** | **$47656473** | **$205897859** | **$820781783** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1967289 | 1659428 | 5141146 | 13001994 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1500005 | 745481 | 2362748 | 10814625 |
| Net Investment Income (Loss) | 467284 | 913947 | 2778398 | 2187369 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  | 12307443 |
| Realized Gain (Loss) on Investments | (690432) | (2909695) | (8863664) | 7336366 |
| Net Realized Capital Gains (Losses) on Investments | (690432) | (2909695) | (8863664) | 19643809 |
| Net Change in Unrealized Appreciation (Depreciation) | 15399743 | 1291504 | 4125544 | 78785680 |
| Net Gain (Loss) on Investment | 14709311 | (1618191) | (4738120) | 98429489 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 15176595 | (704244) | (1959722) | 100616858 |
| Increase (Decrease) in Net Assets from Contract Transactions | (13421992) | (2017843) | (61500440) | (117002170) |
| Total Increase (Decrease) in Net Assets | 1754603 | (2722087) | (63460162) | (16385312) |
| **Net Assets as of December 31, 2024:** | **$106682204** | **$44934386** | **$142437697** | **$804396471** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1542650 | 1694925 | 4183593 | 12274380 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1452269 | 721710 | 1730582 | 9950134 |
| Net Investment Income (Loss) | 90381 | 973215 | 2453011 | 2324246 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 1041360 |  |  | 42972354 |
| Realized Gain (Loss) on Investments | 1455040 | (1961727) | (5409692) | 8658280 |
| Net Realized Capital Gains (Losses) on Investments | 2496400 | (1961727) | (5409692) | 51630634 |
| Net Change in Unrealized Appreciation (Depreciation) | 7037196 | 2762214 | 8149222 | 18624620 |
| Net Gain (Loss) on Investment | 9533596 | 800487 | 2739530 | 70255254 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 9623977 | 1773702 | 5192541 | 72579500 |
| Increase (Decrease) in Net Assets from Contract Transactions | (10926732) | (4533496) | (40024020) | (133338180) |
| Total Increase (Decrease) in Net Assets | (1302755) | (2759794) | (34831479) | (60758680) |
| **Net Assets as of December 31, 2025:** | **$105379449** | **$42174592** | **$107606218** | **$743637791** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | |
|:---|:---|:---|:---|
|  | TA BlackRock Government Money Market Initial Class | TA BlackRock Government Money Market Service Class | TA BlackRock iShares Active Asset Allocation - Conservative Service Class |
|  | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$114069224** | **$581963174** | **$204995116** |
| Investment Income: |  |  |  |
| Reinvested Dividends | 5432043 | 25081369 | 4339794 |
| Investment Expense: |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1813650 | 6992622 | 2498644 |
| Net Investment Income (Loss) | 3618393 | 18088747 | 1841150 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |
| Capital Gain Distributions |  |  |  |
| Realized Gain (Loss) on Investments |  |  | (5237153) |
| Net Realized Capital Gains (Losses) on Investments |  |  | (5237153) |
| Net Change in Unrealized Appreciation (Depreciation) |  |  | 13387066 |
| Net Gain (Loss) on Investment |  |  | 8149913 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 3618393 | 18088747 | 9991063 |
| Increase (Decrease) in Net Assets from Contract Transactions | (12589980) | (114821984) | (30865936) |
| Total Increase (Decrease) in Net Assets | (8971587) | (96733237) | (20874873) |
| **Net Assets as of December 31, 2024:** | **$105097637** | **$485229937** | **$184120243** |
| Investment Income: |  |  |  |
| Reinvested Dividends | 4059166 | 17140372 | 4368640 |
| Investment Expense: |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1726182 | 5914457 | 2186610 |
| Net Investment Income (Loss) | 2332984 | 11225915 | 2182030 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |
| Capital Gain Distributions |  |  |  |
| Realized Gain (Loss) on Investments |  |  | (3082245) |
| Net Realized Capital Gains (Losses) on Investments |  |  | (3082245) |
| Net Change in Unrealized Appreciation (Depreciation) |  |  | 12978873 |
| Net Gain (Loss) on Investment |  |  | 9896628 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 2332984 | 11225915 | 12078658 |
| Increase (Decrease) in Net Assets from Contract Transactions | (3570723) | (85095562) | (28154310) |
| Total Increase (Decrease) in Net Assets | (1237739) | (73869647) | (16075652) |
| **Net Assets as of December 31, 2025:** | **$103859898** | **$411360290** | **$168044591** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | |
|:---|:---|:---|:---|
|  | TA BlackRock iShares Active Asset Allocation - Moderate Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | TA BlackRock iShares Dynamic Allocation - Balanced Service Class |
|  | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$869676856** | **$305012048** | **$674821416** |
| Investment Income: |  |  |  |
| Reinvested Dividends | 15484201 | 4724959 | 12808522 |
| Investment Expense: |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 11133169 | 4118276 | 8568108 |
| Net Investment Income (Loss) | 4351032 | 606683 | 4240414 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |
| Capital Gain Distributions |  |  |  |
| Realized Gain (Loss) on Investments | (15403827) | 2297530 | (7457067) |
| Net Realized Capital Gains (Losses) on Investments | (15403827) | 2297530 | (7457067) |
| Net Change in Unrealized Appreciation (Depreciation) | 74733251 | 29105194 | 50653731 |
| Net Gain (Loss) on Investment | 59329424 | 31402724 | 43196664 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 63680456 | 32009407 | 47437078 |
| Increase (Decrease) in Net Assets from Contract Transactions | (112687699) | (45881187) | (99023866) |
| Total Increase (Decrease) in Net Assets | (49007243) | (13871780) | (51586788) |
| **Net Assets as of December 31, 2024:** | **$820669613** | **$291140268** | **$623234628** |
| Investment Income: |  |  |  |
| Reinvested Dividends | 16851923 | 4833236 | 13767816 |
| Investment Expense: |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 10036742 | 3671757 | 7624875 |
| Net Investment Income (Loss) | 6815181 | 1161479 | 6142941 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |
| Capital Gain Distributions |  |  |  |
| Realized Gain (Loss) on Investments | (4457887) | 5685469 | (1353488) |
| Net Realized Capital Gains (Losses) on Investments | (4457887) | 5685469 | (1353488) |
| Net Change in Unrealized Appreciation (Depreciation) | 57397808 | 16840404 | 40448513 |
| Net Gain (Loss) on Investment | 52939921 | 22525873 | 39095025 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 59755102 | 23687352 | 45237966 |
| Increase (Decrease) in Net Assets from Contract Transactions | (129562508) | (45806564) | (99036523) |
| Total Increase (Decrease) in Net Assets | (69807406) | (22119212) | (53798557) |
| **Net Assets as of December 31, 2025:** | **$750862207** | **$269021056** | **$569436071** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | TA BlackRock iShares Edge 100 Service Class | TA BlackRock iShares Edge 40 Initial Class | TA BlackRock iShares Edge 40 Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$302181696** | **$61143111** | **$14792197** | **$190887402** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 4824690 | 915057 | 398259 | 4458344 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 4048086 | 777725 | 227923 | 2464581 |
| Net Investment Income (Loss) | 776604 | 137332 | 170336 | 1993763 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 1398865 | 222134 | 2759641 |
| Realized Gain (Loss) on Investments | 1886089 | 297538 | (166170) | (2078164) |
| Net Realized Capital Gains (Losses) on Investments | 1886089 | 1696403 | 55964 | 681477 |
| Net Change in Unrealized Appreciation (Depreciation) | 28984573 | 6415197 | 528111 | 6657863 |
| Net Gain (Loss) on Investment | 30870662 | 8111600 | 584075 | 7339340 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 31647266 | 8248932 | 754411 | 9333103 |
| Increase (Decrease) in Net Assets from Contract Transactions | (48576666) | (1095738) | (1558131) | (28308549) |
| Total Increase (Decrease) in Net Assets | (16929400) | 7153194 | (803720) | (18975446) |
| **Net Assets as of December 31, 2024:** | **$285252296** | **$68296305** | **$13988477** | **$171911956** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 5139984 | 1014336 | 441428 | 4672260 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 3581211 | 822713 | 219695 | 2242388 |
| Net Investment Income (Loss) | 1558773 | 191623 | 221733 | 2429872 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  | 3012768 | 512353 | 5964438 |
| Realized Gain (Loss) on Investments | 5204714 | 1288080 | (44116) | (1543855) |
| Net Realized Capital Gains (Losses) on Investments | 5204714 | 4300848 | 468237 | 4420583 |
| Net Change in Unrealized Appreciation (Depreciation) | 15660096 | 6647431 | 662799 | 9062670 |
| Net Gain (Loss) on Investment | 20864810 | 10948279 | 1131036 | 13483253 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 22423583 | 11139902 | 1352769 | 15913125 |
| Increase (Decrease) in Net Assets from Contract Transactions | (49105355) | (5506585) | (917430) | (24621848) |
| Total Increase (Decrease) in Net Assets | (26681772) | 5633317 | 435339 | (8708723) |
| **Net Assets as of December 31, 2025:** | **$258570524** | **$73929622** | **$14423816** | **$163203233** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA BlackRock iShares Edge 50 Service Class | TA BlackRock iShares Edge 75 Service Class | TA BlackRock iShares Tactical - Balanced Service Class | TA BlackRock iShares Tactical - Conservative Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$399153677** | **$134912823** | **$333250811** | **$161481375** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 8462547 | 2512493 | 11407153 | 5487206 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 4619619 | 1692389 | 4326040 | 2042452 |
| Net Investment Income (Loss) | 3842928 | 820104 | 7081113 | 3444754 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 5604875 | 3751930 |  |  |
| Realized Gain (Loss) on Investments | 6829272 | 2534680 | (10115524) | (5997278) |
| Net Realized Capital Gains (Losses) on Investments | 12434147 | 6286610 | (10115524) | (5997278) |
| Net Change in Unrealized Appreciation (Depreciation) | 9176877 | 5769556 | 25683095 | 9841125 |
| Net Gain (Loss) on Investment | 21611024 | 12056166 | 15567571 | 3843847 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 25453952 | 12876270 | 22648684 | 7288601 |
| Increase (Decrease) in Net Assets from Contract Transactions | (48867664) | (16252956) | (54981244) | (26500132) |
| Total Increase (Decrease) in Net Assets | (23413712) | (3376686) | (32332560) | (19211531) |
| **Net Assets as of December 31, 2024:** | **$375739965** | **$131536137** | **$300918251** | **$142269844** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 9035561 | 2534547 | 9274563 | 4457426 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 4374084 | 1642510 | 3884957 | 1791017 |
| Net Investment Income (Loss) | 4661477 | 892037 | 5389606 | 2666409 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 12223341 | 6239698 |  |  |
| Realized Gain (Loss) on Investments | 7285237 | 3359083 | (6971681) | (3972427) |
| Net Realized Capital Gains (Losses) on Investments | 19508578 | 9598781 | (6971681) | (3972427) |
| Net Change in Unrealized Appreciation (Depreciation) | 15382004 | 6810596 | 32890598 | 13125616 |
| Net Gain (Loss) on Investment | 34890582 | 16409377 | 25918917 | 9153189 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 39552059 | 17301414 | 31308523 | 11819598 |
| Increase (Decrease) in Net Assets from Contract Transactions | (44310722) | (15915546) | (49958461) | (24276835) |
| Total Increase (Decrease) in Net Assets | (4758663) | 1385868 | (18649938) | (12457237) |
| **Net Assets as of December 31, 2025:** | **$370981302** | **$132922005** | **$282268313** | **$129812607** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA BlackRock iShares Tactical - Growth Service Class | TA BlackRock Real Estate Securities Initial Class | TA BlackRock Real Estate Securities Service Class | TA BlackRock Tactical Allocation Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$216586241** | **$23618963** | **$65908004** | **$821349625** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 7597682 | 499005 | 1116325 | 11985078 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 2916210 | 347438 | 862483 | 11063829 |
| Net Investment Income (Loss) | 4681472 | 151567 | 253842 | 921249 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  |  |
| Realized Gain (Loss) on Investments | (6726142) | (716634) | (2275109) | (8881823) |
| Net Realized Capital Gains (Losses) on Investments | (6726142) | (716634) | (2275109) | (8881823) |
| Net Change in Unrealized Appreciation (Depreciation) | 22874924 | 532361 | 1911682 | 91870231 |
| Net Gain (Loss) on Investment | 16148782 | (184273) | (363427) | 82988408 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 20830254 | (32706) | (109585) | 83909657 |
| Increase (Decrease) in Net Assets from Contract Transactions | (35259688) | (1446939) | (5305301) | (152673261) |
| Total Increase (Decrease) in Net Assets | (14429434) | (1479645) | (5414886) | (68763604) |
| **Net Assets as of December 31, 2024:** | **$202156807** | **$22139318** | **$60493118** | **$752586021** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 5775222 | 406075 | 854247 | 14292757 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 2658384 | 335839 | 812446 | 9785316 |
| Net Investment Income (Loss) | 3116838 | 70236 | 41801 | 4507441 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  |  |
| Realized Gain (Loss) on Investments | (2592525) | (379064) | (1212258) | 1730307 |
| Net Realized Capital Gains (Losses) on Investments | (2592525) | (379064) | (1212258) | 1730307 |
| Net Change in Unrealized Appreciation (Depreciation) | 25099088 | 1980103 | 5677057 | 61959813 |
| Net Gain (Loss) on Investment | 22506563 | 1601039 | 4464799 | 63690120 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 25623401 | 1671275 | 4506600 | 68197561 |
| Increase (Decrease) in Net Assets from Contract Transactions | (35272775) | (1441590) | (4682475) | (138075606) |
| Total Increase (Decrease) in Net Assets | (9649374) | 229685 | (175875) | (69878045) |
| **Net Assets as of December 31, 2025:** | **$192507433** | **$22369003** | **$60317243** | **$682707976** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA Goldman Sachs 70/30 Service Class | TA Goldman Sachs Managed Risk - Balanced ETF Service Class | TA Goldman Sachs Managed Risk - Conservative ETF Service Class | TA Goldman Sachs Managed Risk - Growth ETF Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$4086431** | **$3804945152** | **$417072948** | **$1719739409** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 65676 | 80071661 | 9589545 | 30328607 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 60956 | 45939508 | 4976196 | 22385723 |
| Net Investment Income (Loss) | 4720 | 34132153 | 4613349 | 7942884 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 92097 | 42730693 | 15127490 | 20394381 |
| Realized Gain (Loss) on Investments | (5710) | 15036899 | (2986926) | 49512240 |
| Net Realized Capital Gains (Losses) on Investments | 86387 | 57767592 | 12140564 | 69906621 |
| Net Change in Unrealized Appreciation (Depreciation) | 407880 | 185071643 | 4028523 | 111911006 |
| Net Gain (Loss) on Investment | 494267 | 242839235 | 16169087 | 181817627 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 498987 | 276971388 | 20782436 | 189760511 |
| Increase (Decrease) in Net Assets from Contract Transactions | 1688230 | (594290051) | (66689287) | (299619064) |
| Total Increase (Decrease) in Net Assets | 2187217 | (317318663) | (45906851) | (109858553) |
| **Net Assets as of December 31, 2024:** | **$6273648** | **$3487626489** | **$371166097** | **$1609880856** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 115837 | 83128145 | 9797376 | 28937627 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 121224 | 41166516 | 4454124 | 19990270 |
| Net Investment Income (Loss) | (5387) | 41961629 | 5343252 | 8947357 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 241686 | 136667429 | 3946532 | 91904105 |
| Realized Gain (Loss) on Investments | 204978 | 29822159 | (3365498) | 52925795 |
| Net Realized Capital Gains (Losses) on Investments | 446664 | 166489588 | 581034 | 144829900 |
| Net Change in Unrealized Appreciation (Depreciation) | 1210175 | 87560143 | 23407713 | (141731) |
| Net Gain (Loss) on Investment | 1656839 | 254049731 | 23988747 | 144688169 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1651452 | 296011360 | 29331999 | 153635526 |
| Increase (Decrease) in Net Assets from Contract Transactions | 4336280 | (559604678) | (56910068) | (282414754) |
| Total Increase (Decrease) in Net Assets | 5987732 | (263593318) | (27578069) | (128779228) |
| **Net Assets as of December 31, 2025:** | **$12261380** | **$3224033171** | **$343588028** | **$1481101628** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA Great Lakes Advisors Large Cap Value Service Class | TA International Focus Initial Class | TA International Focus Service Class | TA Janus Balanced Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$53852977** | **$58522612** | **$87960039** | **$829945620** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 539350 | 1359571 | 1854701 | 13984003 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 763878 | 889376 | 1166218 | 11216755 |
| Net Investment Income (Loss) | (224528) | 470195 | 688483 | 2767248 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 2722542 | 1872227 | 2857242 | 19039404 |
| Realized Gain (Loss) on Investments | 1503177 | (275704) | 678527 | 29575451 |
| Net Realized Capital Gains (Losses) on Investments | 4225719 | 1596523 | 3535769 | 48614855 |
| Net Change in Unrealized Appreciation (Depreciation) | 4351041 | (3293551) | (6184578) | 52625926 |
| Net Gain (Loss) on Investment | 8576760 | (1697028) | (2648809) | 101240781 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 8352232 | (1226833) | (1960326) | 104008029 |
| Increase (Decrease) in Net Assets from Contract Transactions | 1437320 | (3641707) | (5070943) | (141386089) |
| Total Increase (Decrease) in Net Assets | 9789552 | (4868540) | (7031269) | (37378060) |
| **Net Assets as of December 31, 2024:** | **$63642529** | **$53654072** | **$80928770** | **$792567560** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 552142 | 959060 | 1196025 | 14020360 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 837272 | 834296 | 1070386 | 10161608 |
| Net Investment Income (Loss) | (285130) | 124764 | 125639 | 3858752 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 1484649 | 5676852 | 8372174 | 91742776 |
| Realized Gain (Loss) on Investments | 2703402 | (640768) | (91812) | 20026915 |
| Net Realized Capital Gains (Losses) on Investments | 4188051 | 5036084 | 8280362 | 111769691 |
| Net Change in Unrealized Appreciation (Depreciation) | 9785307 | (2517267) | (4353627) | (31242490) |
| Net Gain (Loss) on Investment | 13973358 | 2518817 | 3926735 | 80527201 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 13688228 | 2643581 | 4052374 | 84385953 |
| Increase (Decrease) in Net Assets from Contract Transactions | (1564325) | (3142647) | (8436392) | (148221578) |
| Total Increase (Decrease) in Net Assets | 12123903 | (499066) | (4384018) | (63835625) |
| **Net Assets as of December 31, 2025:** | **$75766432** | **$53155006** | **$76544752** | **$728731935** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA Janus Mid-Cap Growth Initial Class | TA Janus Mid-Cap Growth Service Class | TA JPMorgan Asset Allocation - Conservative Initial Class | TA JPMorgan Asset Allocation - Conservative Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$65869315** | **$174973421** | **$106961227** | **$613717801** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 85188 |  | 2124658 | 10262375 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1002955 | 2433811 | 1690568 | 7766154 |
| Net Investment Income (Loss) | (917767) | (2433811) | 434090 | 2496221 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 3809565 | 12065214 |  |  |
| Realized Gain (Loss) on Investments | (453620) | (6081884) | (3547912) | (20264359) |
| Net Realized Capital Gains (Losses) on Investments | 3355945 | 5983330 | (3547912) | (20264359) |
| Net Change in Unrealized Appreciation (Depreciation) | 5448917 | 18239988 | 7315849 | 41764291 |
| Net Gain (Loss) on Investment | 8804862 | 24223318 | 3767937 | 21499932 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 7887095 | 21789507 | 4202027 | 23996153 |
| Increase (Decrease) in Net Assets from Contract Transactions | (9270549) | (10049634) | (8613787) | (92187139) |
| Total Increase (Decrease) in Net Assets | (1383454) | 11739873 | (4411760) | (68190986) |
| **Net Assets as of December 31, 2024:** | **$64485861** | **$186713294** | **$102549467** | **$545526815** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 5758 |  | 4002009 | 19254697 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 987652 | 2387494 | 1631044 | 6860798 |
| Net Investment Income (Loss) | (981894) | (2387494) | 2370965 | 12393899 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 7527872 | 23421001 |  |  |
| Realized Gain (Loss) on Investments | (1098396) | (4973804) | (2372862) | (15425871) |
| Net Realized Capital Gains (Losses) on Investments | 6429476 | 18447197 | (2372862) | (15425871) |
| Net Change in Unrealized Appreciation (Depreciation) | (1397130) | (4573608) | 8556090 | 47004558 |
| Net Gain (Loss) on Investment | 5032346 | 13873589 | 6183228 | 31578687 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 4050452 | 11486095 | 8554193 | 43972586 |
| Increase (Decrease) in Net Assets from Contract Transactions | (3359541) | (11661200) | (9563734) | (88289475) |
| Total Increase (Decrease) in Net Assets | 690911 | (175105) | (1009541) | (44316889) |
| **Net Assets as of December 31, 2025:** | **$65176772** | **$186538189** | **$101539926** | **$501209926** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA JPMorgan Asset Allocation - Moderate Initial Class | TA JPMorgan Asset Allocation - Moderate Service Class | TA JPMorgan Asset Allocation - Moderate Growth Initial Class | TA JPMorgan Asset Allocation - Moderate Growth Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$251588954** | **$4423308426** | **$366205798** | **$2308388180** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 4004409 | 57871142 | 4452540 | 21700737 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 4044944 | 54778429 | 5751147 | 31994054 |
| Net Investment Income (Loss) | (40535) | 3092713 | (1298607) | (10293317) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  |  |
| Realized Gain (Loss) on Investments | (3197697) | (68935057) | (7249792) | (66329814) |
| Net Realized Capital Gains (Losses) on Investments | (3197697) | (68935057) | (7249792) | (66329814) |
| Net Change in Unrealized Appreciation (Depreciation) | 18759655 | 335550516 | 41559658 | 276774353 |
| Net Gain (Loss) on Investment | 15561958 | 266615459 | 34309866 | 210444539 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 15521423 | 269708172 | 33011259 | 200151222 |
| Increase (Decrease) in Net Assets from Contract Transactions | (19830646) | (579894295) | (40669838) | (379826336) |
| Total Increase (Decrease) in Net Assets | (4309223) | (310186123) | (7658579) | (179675114) |
| **Net Assets as of December 31, 2024:** | **$247279731** | **$4113122303** | **$358547219** | **$2128713066** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 8135705 | 121420797 | 9544844 | 49564885 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 3962088 | 49815546 | 5507900 | 28566359 |
| Net Investment Income (Loss) | 4173617 | 71605251 | 4036944 | 20998526 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  |  |
| Realized Gain (Loss) on Investments | (1508065) | (30594901) | (3666760) | (44169549) |
| Net Realized Capital Gains (Losses) on Investments | (1508065) | (30594901) | (3666760) | (44169549) |
| Net Change in Unrealized Appreciation (Depreciation) | 21002434 | 339878110 | 37751888 | 237174560 |
| Net Gain (Loss) on Investment | 19494369 | 309283209 | 34085128 | 193005011 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 23667986 | 380888460 | 38122072 | 214003537 |
| Increase (Decrease) in Net Assets from Contract Transactions | (20805665) | (606940409) | (38090089) | (369719159) |
| Total Increase (Decrease) in Net Assets | 2862321 | (226051949) | 31983 | (155715622) |
| **Net Assets as of December 31, 2025:** | **$250142052** | **$3887070354** | **$358579202** | **$1972997444** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA JPMorgan Diversified Equity Allocation Initial Class | TA JPMorgan Diversified Equity Allocation Service Class | TA JPMorgan Enhanced Index Initial Class | TA JPMorgan Enhanced Index Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$225809768** | **$217776216** | **$136224374** | **$113074541** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 3173397 | 2607769 | 1000548 | 611166 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 3714855 | 3119240 | 2336705 | 1709922 |
| Net Investment Income (Loss) | (541458) | (511471) | (1336157) | (1098756) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 4425570 | 4348962 | 4931195 | 4222050 |
| Realized Gain (Loss) on Investments | (1749628) | (2977051) | 5557428 | 5136947 |
| Net Realized Capital Gains (Losses) on Investments | 2675942 | 1371911 | 10488623 | 9358997 |
| Net Change in Unrealized Appreciation (Depreciation) | 29821203 | 30200897 | 20832265 | 16798309 |
| Net Gain (Loss) on Investment | 32497145 | 31572808 | 31320888 | 26157306 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 31955687 | 31061337 | 29984731 | 25058550 |
| Increase (Decrease) in Net Assets from Contract Transactions | (18111509) | (17280571) | (11210858) | 1286758 |
| Total Increase (Decrease) in Net Assets | 13844178 | 13780766 | 18773873 | 26345308 |
| **Net Assets as of December 31, 2024:** | **$239653946** | **$231556982** | **$154998247** | **$139419849** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 3532484 | 2849318 | 1117602 | 709001 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 3758370 | 3076303 | 2445432 | 1850730 |
| Net Investment Income (Loss) | (225886) | (226985) | (1327830) | (1141729) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 6718720 | 6515085 | 18727970 | 17309420 |
| Realized Gain (Loss) on Investments | (88723) | 2529597 | 4186925 | 8133213 |
| Net Realized Capital Gains (Losses) on Investments | 6629997 | 9044682 | 22914895 | 25442633 |
| Net Change in Unrealized Appreciation (Depreciation) | 32691159 | 28374375 | 292598 | (4935879) |
| Net Gain (Loss) on Investment | 39321156 | 37419057 | 23207493 | 20506754 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 39095270 | 37192072 | 21879663 | 19365025 |
| Increase (Decrease) in Net Assets from Contract Transactions | (27274543) | (30156966) | (7847949) | (8350004) |
| Total Increase (Decrease) in Net Assets | 11820727 | 7035106 | 14031714 | 11015021 |
| **Net Assets as of December 31, 2025:** | **$251474673** | **$238592088** | **$169029961** | **$150434870** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA JPMorgan International Moderate Growth Initial Class | TA JPMorgan International Moderate Growth Service Class | TA JPMorgan Tactical Allocation Service Class | TA Madison Diversified Income Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$109080** | **$353188989** | **$905816088** | **$123863084** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 2746 | 6983489 | 20013621 | 2884866 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 510 | 4725308 | 10446490 | 1522417 |
| Net Investment Income (Loss) | 2236 | 2258181 | 9567131 | 1362449 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  |  |
| Realized Gain (Loss) on Investments | 59 | (4037184) | (10788489) | (4275485) |
| Net Realized Capital Gains (Losses) on Investments | 59 | (4037184) | (10788489) | (4275485) |
| Net Change in Unrealized Appreciation (Depreciation) | (589) | 4325589 | 25843329 | 5363563 |
| Net Gain (Loss) on Investment | (530) | 288405 | 15054840 | 1088078 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1706 | 2546586 | 24621971 | 2450527 |
| Increase (Decrease) in Net Assets from Contract Transactions | 1813 | (50925782) | (124313901) | (18205139) |
| Total Increase (Decrease) in Net Assets | 3519 | (48379196) | (99691930) | (15754612) |
| **Net Assets as of December 31, 2024:** | **$112599** | **$304809793** | **$806124158** | **$108108472** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  | 9370565 | 21778398 | 2849131 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 121 | 4270192 | 9274843 | 1374525 |
| Net Investment Income (Loss) | (121) | 5100373 | 12503555 | 1474606 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  |  |
| Realized Gain (Loss) on Investments | 6492 | (2329982) | (9222684) | (3232912) |
| Net Realized Capital Gains (Losses) on Investments | 6492 | (2329982) | (9222684) | (3232912) |
| Net Change in Unrealized Appreciation (Depreciation) | 409 | 42550778 | 52600836 | 7723626 |
| Net Gain (Loss) on Investment | 6901 | 40220796 | 43378152 | 4490714 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 6780 | 45321169 | 55881707 | 5965320 |
| Increase (Decrease) in Net Assets from Contract Transactions | (119379) | (50025530) | (119625938) | (12413201) |
| Total Increase (Decrease) in Net Assets | (112599) | (4704361) | (63744231) | (6447881) |
| **Net Assets as of December 31, 2025:** | **$-** | **$300105432** | **$742379927** | **$101660591** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA Market Participation Strategy Service Class | TA Morgan Stanley Global Allocation Service Class | TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | TA MSCI EAFE Index Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$301574446** | **$774704522** | **$207865302** | **$63337424** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 4459156 | 33598918 |  | 1692815 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 4098208 | 10184604 | 2579700 | 960714 |
| Net Investment Income (Loss) | 360948 | 23414314 | (2579700) | 732101 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions |  |  |  |  |
| Realized Gain (Loss) on Investments | (6862982) | (6583876) | (12989977) | 1406854 |
| Net Realized Capital Gains (Losses) on Investments | (6862982) | (6583876) | (12989977) | 1406854 |
| Net Change in Unrealized Appreciation (Depreciation) | 44049838 | 23293921 | 23158088 | (1428939) |
| Net Gain (Loss) on Investment | 37186856 | 16710045 | 10168111 | (22085) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 37547804 | 40124359 | 7588411 | 710016 |
| Increase (Decrease) in Net Assets from Contract Transactions | (55874501) | (126425465) | (27285507) | 10486466 |
| Total Increase (Decrease) in Net Assets | (18326697) | (86301106) | (19697096) | 11196482 |
| **Net Assets as of December 31, 2024:** | **$283247749** | **$688403416** | **$188168206** | **$74533906** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 3307998 | 40216583 | 20621222 | 1863356 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 3649645 | 9255220 | 2342280 | 1202427 |
| Net Investment Income (Loss) | (341647) | 30961363 | 18278942 | 660929 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 9415926 |  |  |  |
| Realized Gain (Loss) on Investments | (664780) | 664011 | (14122729) | 3876000 |
| Net Realized Capital Gains (Losses) on Investments | 8751146 | 664011 | (14122729) | 3876000 |
| Net Change in Unrealized Appreciation (Depreciation) | 13112033 | 67826451 | 17681967 | 17410039 |
| Net Gain (Loss) on Investment | 21863179 | 68490462 | 3559238 | 21286039 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 21521532 | 99451825 | 21838180 | 21946968 |
| Increase (Decrease) in Net Assets from Contract Transactions | (47818828) | (126085069) | (31746053) | 7410725 |
| Total Increase (Decrease) in Net Assets | (26297296) | (26633244) | (9907873) | 29357693 |
| **Net Assets as of December 31, 2025:** | **$256950453** | **$661770172** | **$178260333** | **$103891599** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA Multi-Managed Balanced Initial Class | TA Multi-Managed Balanced Service Class | TA PineBridge Inflation Opportunities Service Class | TA ProFunds UltraBear Service Class (OAM) |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$89828718** | **$1057526501** | **$112871493** | **$-** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1804022 | 17460022 | 3328168 | 343149 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1422485 | 13332613 | 1375732 | 71600 |
| Net Investment Income (Loss) | 381537 | 4127409 | 1952436 | 271549 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 3932012 | 43790466 |  |  |
| Realized Gain (Loss) on Investments | 1229470 | 32432732 | (1596953) | (327555) |
| Net Realized Capital Gains (Losses) on Investments | 5161482 | 76223198 | (1596953) | (327555) |
| Net Change in Unrealized Appreciation (Depreciation) | 5925327 | 48983135 | 64153 | (999201) |
| Net Gain (Loss) on Investment | 11086809 | 125206333 | (1532800) | (1326756) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 11468346 | 129333742 | 419636 | (1055207) |
| Increase (Decrease) in Net Assets from Contract Transactions | (8994868) | (220713065) | (22673578) | 11307624 |
| Total Increase (Decrease) in Net Assets | 2473478 | (91379323) | (22253942) | 10252417 |
| **Net Assets as of December 31, 2024:** | **$92302196** | **$966147178** | **$90617551** | **$10252417** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 1943905 | 16949612 | 2759752 | 241505 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1425833 | 11731386 | 1146734 | 146599 |
| Net Investment Income (Loss) | 518072 | 5218226 | 1613018 | 94906 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 11512650 | 115644420 |  |  |
| Realized Gain (Loss) on Investments | 1363629 | 18554561 | (1703521) | (1049069) |
| Net Realized Capital Gains (Losses) on Investments | 12876279 | 134198981 | (1703521) | (1049069) |
| Net Change in Unrealized Appreciation (Depreciation) | (3456968) | (42993857) | 3412322 | (2451304) |
| Net Gain (Loss) on Investment | 9419311 | 91205124 | 1708801 | (3500373) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 9937383 | 96423350 | 3321819 | (3405467) |
| Increase (Decrease) in Net Assets from Contract Transactions | (7964912) | (187240197) | (15426534) | 2031613 |
| Total Increase (Decrease) in Net Assets | 1972471 | (90816847) | (12104715) | (1373854) |
| **Net Assets as of December 31, 2025:** | **$94274667** | **$875330331** | **$78512836** | **$8878563** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA S&P 500 Index Initial Class | TA S&P 500 Index Service Class | TA Small/Mid Cap Value Initial Class | TA Small/Mid Cap Value Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$1726833** | **$490582631** | **$88584896** | **$177182928** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 62759 | 4737646 | 815488 | 1359602 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 15972 | 8313950 | 1280857 | 2402079 |
| Net Investment Income (Loss) | 46787 | (3576304) | (465369) | (1042477) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 125929 | 11565351 | 2729030 | 5967039 |
| Realized Gain (Loss) on Investments | 101342 | 26278019 | 359162 | 1335821 |
| Net Realized Capital Gains (Losses) on Investments | 227271 | 37843370 | 3088192 | 7302860 |
| Net Change in Unrealized Appreciation (Depreciation) | 680024 | 84562101 | 3608294 | 6199076 |
| Net Gain (Loss) on Investment | 907295 | 122405471 | 6696486 | 13501936 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 954082 | 118829167 | 6231117 | 12459459 |
| Increase (Decrease) in Net Assets from Contract Transactions | 10285318 | 114074186 | (10160543) | (8813166) |
| Total Increase (Decrease) in Net Assets | 11239400 | 232903353 | (3929426) | 3646293 |
| **Net Assets as of December 31, 2024:** | **$12966233** | **$723485984** | **$84655470** | **$180829221** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 151602 | 5795542 | 1021041 | 1870233 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 45005 | 10890828 | 1189541 | 2312461 |
| Net Investment Income (Loss) | 106597 | (5095286) | (168500) | (442228) |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 85369 | 4111555 | 8553016 | 19514400 |
| Realized Gain (Loss) on Investments | 372537 | 47561555 | 40222 | 2194169 |
| Net Realized Capital Gains (Losses) on Investments | 457906 | 51673110 | 8593238 | 21708569 |
| Net Change in Unrealized Appreciation (Depreciation) | 2188638 | 75058049 | (1980454) | (7398780) |
| Net Gain (Loss) on Investment | 2646544 | 126731159 | 6612784 | 14309789 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 2753141 | 121635873 | 6444284 | 13867561 |
| Increase (Decrease) in Net Assets from Contract Transactions | 3746683 | 60745561 | (7655198) | (13265594) |
| Total Increase (Decrease) in Net Assets | 6499824 | 182381434 | (1210914) | 601967 |
| **Net Assets as of December 31, 2025:** | **$19466057** | **$905867418** | **$83444556** | **$181431188** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA T. Rowe Price Small Cap Initial Class | TA T. Rowe Price Small Cap Service Class | TA TSW International Equity Initial Class | TA TSW International Equity Service Class |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$104976029** | **$329615518** | **$67677253** | **$52560455** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  |  | 1922400 | 1438250 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1630721 | 4585561 | 1000429 | 698714 |
| Net Investment Income (Loss) | (1630721) | (4585561) | 921971 | 739536 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 3782213 | 14455337 |  |  |
| Realized Gain (Loss) on Investments | (4617580) | (22279664) | 969839 | 1494874 |
| Net Realized Capital Gains (Losses) on Investments | (835367) | (7824327) | 969839 | 1494874 |
| Net Change in Unrealized Appreciation (Depreciation) | 13846074 | 48469270 | (654582) | (1256653) |
| Net Gain (Loss) on Investment | 13010707 | 40644943 | 315257 | 238221 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 11379986 | 36059382 | 1237228 | 977757 |
| Increase (Decrease) in Net Assets from Contract Transactions | (12932916) | (16914439) | (5745219) | (3199530) |
| Total Increase (Decrease) in Net Assets | (1552930) | 19144943 | (4507991) | (2221773) |
| **Net Assets as of December 31, 2024:** | **$103423099** | **$348760461** | **$63169262** | **$50338682** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends |  |  | 1549340 | 1239604 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 1495452 | 4489135 | 1041731 | 759421 |
| Net Investment Income (Loss) | (1495452) | (4489135) | 507609 | 480183 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 15323341 | 63693811 | 3337071 | 2950349 |
| Realized Gain (Loss) on Investments | (4404027) | (24074467) | 1838850 | 3011338 |
| Net Realized Capital Gains (Losses) on Investments | 10919314 | 39619344 | 5175921 | 5961687 |
| Net Change in Unrealized Appreciation (Depreciation) | (1371448) | (6283177) | 12182137 | 8523593 |
| Net Gain (Loss) on Investment | 9547866 | 33336167 | 17358058 | 14485280 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 8052414 | 28847032 | 17865667 | 14965463 |
| Increase (Decrease) in Net Assets from Contract Transactions | (10135339) | (20348755) | (6642228) | (496022) |
| Total Increase (Decrease) in Net Assets | (2082925) | 8498277 | 11223439 | 14469441 |
| **Net Assets as of December 31, 2025:** | **$101340174** | **$357258738** | **$74392701** | **$64808123** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | TA TSW Mid Cap Value Opportunities Service Class | TA WMC US Growth Initial Class | TA WMC US Growth Service Class | Vanguard® Balanced |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$220560051** | **$647727797** | **$743992798** | **$36028930** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 2681831 | 78663 |  | 896170 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 2959991 | 10924346 | 10913481 | 633914 |
| Net Investment Income (Loss) | (278160) | (10845683) | (10913481) | 262256 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 35950484 | 64061504 | 79179709 | 1938245 |
| Realized Gain (Loss) on Investments | (2692722) | 19897542 | 14955090 | (665692) |
| Net Realized Capital Gains (Losses) on Investments | 33257762 | 83959046 | 94134799 | 1272553 |
| Net Change in Unrealized Appreciation (Depreciation) | (18661826) | 94710257 | 111729173 | 3307806 |
| Net Gain (Loss) on Investment | 14595936 | 178669303 | 205863972 | 4580359 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 14317776 | 167823620 | 194950491 | 4842615 |
| Increase (Decrease) in Net Assets from Contract Transactions | (24161336) | (77606199) | (70491881) | 5221085 |
| Total Increase (Decrease) in Net Assets | (9843560) | 90217421 | 124458610 | 10063700 |
| **Net Assets as of December 31, 2024:** | **$210716491** | **$737945218** | **$868451408** | **$46092630** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 2107465 |  |  | 1078060 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 2734324 | 11124166 | 11220334 | 865011 |
| Net Investment Income (Loss) | (626859) | (11124166) | (11220334) | 213049 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 54493019 | 117155746 | 147429315 | 4617649 |
| Realized Gain (Loss) on Investments | (9023863) | 17148724 | 23691512 | (318666) |
| Net Realized Capital Gains (Losses) on Investments | 45469156 | 134304470 | 171120827 | 4298983 |
| Net Change in Unrealized Appreciation (Depreciation) | (29291874) | (14857423) | (31209380) | 3174791 |
| Net Gain (Loss) on Investment | 16177282 | 119447047 | 139911447 | 7473774 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 15550423 | 108322881 | 128691113 | 7686823 |
| Increase (Decrease) in Net Assets from Contract Transactions | (22032051) | (87137922) | (90973820) | 15185080 |
| Total Increase (Decrease) in Net Assets | (6481628) | 21184959 | 37717293 | 22871903 |
| **Net Assets as of December 31, 2025:** | **$204234863** | **$759130177** | **$906168701** | **$68964533** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Vanguard® Capital Growth | Vanguard® Conservative Allocation | Vanguard® Diversified Value | Vanguard® Equity Income |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$3486754** | **$12627161** | **$2720876** | **$2822945** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 42280 | 362746 | 47573 | 79181 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 11846 | 205123 | 9050 | 8860 |
| Net Investment Income (Loss) | 30434 | 157623 | 38523 | 70321 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 77282 | 307466 | 171950 | 166917 |
| Realized Gain (Loss) on Investments | 18363 | (108813) | 7671 | (74521) |
| Net Realized Capital Gains (Losses) on Investments | 95645 | 198653 | 179621 | 92396 |
| Net Change in Unrealized Appreciation (Depreciation) | 327943 | 454509 | 188562 | 215429 |
| Net Gain (Loss) on Investment | 423588 | 653162 | 368183 | 307825 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 454022 | 810785 | 406706 | 378146 |
| Increase (Decrease) in Net Assets from Contract Transactions | 247441 | 2633422 | (32002) | 1201499 |
| Total Increase (Decrease) in Net Assets | 701463 | 3444207 | 374704 | 1579645 |
| **Net Assets as of December 31, 2024:** | **$4188217** | **$16071368** | **$3095580** | **$4402590** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 54080 | 630820 | 49392 | 112111 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 16453 | 391932 | 9706 | 13113 |
| Net Investment Income (Loss) | 37627 | 238888 | 39686 | 98998 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 232369 | 738960 | 258275 | 340794 |
| Realized Gain (Loss) on Investments | 313751 | (99112) | (17191) | 180901 |
| Net Realized Capital Gains (Losses) on Investments | 546120 | 639848 | 241084 | 521695 |
| Net Change in Unrealized Appreciation (Depreciation) | 950574 | 1748186 | 251586 | 114041 |
| Net Gain (Loss) on Investment | 1496694 | 2388034 | 492670 | 635736 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1534321 | 2626922 | 532356 | 734734 |
| Increase (Decrease) in Net Assets from Contract Transactions | 775148 | 10898812 | 314868 | 100962 |
| Total Increase (Decrease) in Net Assets | 2309469 | 13525734 | 847224 | 835696 |
| **Net Assets as of December 31, 2025:** | **$6497686** | **$29597102** | **$3942804** | **$5238286** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Vanguard® Equity Index | Vanguard® Global Bond Index | Vanguard® Growth | Vanguard® High Yield Bond |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$17100972** | **$1058304** | **$4920201** | **$2133574** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 244391 | 31168 | 15715 | 122085 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 67615 | 3437 | 21574 | 7640 |
| Net Investment Income (Loss) | 176776 | 27731 | (5859) | 114445 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 698698 | 1160 |  |  |
| Realized Gain (Loss) on Investments | 325343 | (7783) | 36169 | (29635) |
| Net Realized Capital Gains (Losses) on Investments | 1024041 | (6623) | 36169 | (29635) |
| Net Change in Unrealized Appreciation (Depreciation) | 2881847 | (573) | 1785673 | 79584 |
| Net Gain (Loss) on Investment | 3905888 | (7196) | 1821842 | 49949 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 4082664 | 20535 | 1815983 | 164394 |
| Increase (Decrease) in Net Assets from Contract Transactions | (1416922) | 107611 | 8923116 | 1343545 |
| Total Increase (Decrease) in Net Assets | 2665742 | 128146 | 10739099 | 1507939 |
| **Net Assets as of December 31, 2024:** | **$19766714** | **$1186450** | **$15659300** | **$3641513** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 218118 | 42725 | 33957 | 250999 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 73370 | 4368 | 45376 | 10859 |
| Net Investment Income (Loss) | 144748 | 38357 | (11419) | 240140 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 420275 | 2605 | 919000 |  |
| Realized Gain (Loss) on Investments | 440463 | (4188) | 69443 | 16679 |
| Net Realized Capital Gains (Losses) on Investments | 860738 | (1583) | 988443 | 16679 |
| Net Change in Unrealized Appreciation (Depreciation) | 2372132 | 39397 | 1478183 | 85297 |
| Net Gain (Loss) on Investment | 3232870 | 37814 | 2466626 | 101976 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 3377618 | 76171 | 2455207 | 342116 |
| Increase (Decrease) in Net Assets from Contract Transactions | (6206) | 399105 | (955975) | 18685 |
| Total Increase (Decrease) in Net Assets | 3371412 | 475276 | 1499232 | 360801 |
| **Net Assets as of December 31, 2025:** | **$23138126** | **$1661726** | **$17158532** | **$4002314** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Vanguard® International | Vanguard® Mid-Cap Index | Vanguard® Moderate Allocation | Vanguard® Money Market |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$7666543** | **$24221625** | **$25875445** | **$7964434** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 95837 | 381557 | 668682 | 501651 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 42558 | 451643 | 370302 | 27438 |
| Net Investment Income (Loss) | 53279 | (70086) | 298380 | 474213 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 253694 | 317994 | 543712 |  |
| Realized Gain (Loss) on Investments | (730478) | 53099 | (179180) |  |
| Net Realized Capital Gains (Losses) on Investments | (476784) | 371093 | 364532 |  |
| Net Change in Unrealized Appreciation (Depreciation) | 1062068 | 3480206 | 1857850 |  |
| Net Gain (Loss) on Investment | 585284 | 3851299 | 2222382 |  |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 638563 | 3781213 | 2520762 | 474213 |
| Increase (Decrease) in Net Assets from Contract Transactions | 162786 | 11630365 | 2088050 | 1516833 |
| Total Increase (Decrease) in Net Assets | 801349 | 15411578 | 4608812 | 1991046 |
| **Net Assets as of December 31, 2024:** | **$8467892** | **$39633203** | **$30484257** | **$9955480** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 81020 | 533668 | 789425 | 407475 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 48518 | 702577 | 445940 | 28170 |
| Net Investment Income (Loss) | 32502 | (168909) | 343485 | 379305 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 546059 | 2126067 | 1326164 |  |
| Realized Gain (Loss) on Investments | (206648) | 115317 | (57572) |  |
| Net Realized Capital Gains (Losses) on Investments | 339411 | 2241384 | 1268592 |  |
| Net Change in Unrealized Appreciation (Depreciation) | 1303215 | 2235791 | 3255924 |  |
| Net Gain (Loss) on Investment | 1642626 | 4477175 | 4524516 |  |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1675128 | 4308266 | 4868001 | 379305 |
| Increase (Decrease) in Net Assets from Contract Transactions | 606262 | 10417602 | 3914515 | 1803787 |
| Total Increase (Decrease) in Net Assets | 2281390 | 14725868 | 8782516 | 2183092 |
| **Net Assets as of December 31, 2025:** | **$10749282** | **$54359071** | **$39266773** | **$12138572** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Vanguard® Real Estate Index | Vanguard® Short-Term Investment Grade | Vanguard® Total Bond Market Index | Vanguard® Total International Stock Market Index |
|  | Subaccount | Subaccount | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$3659996** | **$13617413** | **$13658790** | **$6422574** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 115147 | 511024 | 409591 | 222125 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 18427 | 62775 | 66264 | 22019 |
| Net Investment Income (Loss) | 96720 | 448249 | 343327 | 200106 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 97140 |  |  | 37702 |
| Realized Gain (Loss) on Investments | (212228) | (77931) | (576194) | (140050) |
| Net Realized Capital Gains (Losses) on Investments | (115088) | (77931) | (576194) | (102348) |
| Net Change in Unrealized Appreciation (Depreciation) | (281436) | 261829 | 323950 | 214897 |
| Net Gain (Loss) on Investment | (396524) | 183898 | (252244) | 112549 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | (299804) | 632147 | 91083 | 312655 |
| Increase (Decrease) in Net Assets from Contract Transactions | 6848365 | 1664093 | 3880669 | 1290849 |
| Total Increase (Decrease) in Net Assets | 6548561 | 2296240 | 3971752 | 1603504 |
| **Net Assets as of December 31, 2024:** | **$10208557** | **$15913653** | **$17630542** | **$8026078** |
| Investment Income: |  |  |  |  |
| Reinvested Dividends | 276863 | 723357 | 675077 | 255690 |
| Investment Expense: |  |  |  |  |
| Mortality and Expense Risk and Administrative Charges | 35448 | 75833 | 81510 | 27999 |
| Net Investment Income (Loss) | 241415 | 647524 | 593567 | 227691 |
| Increase (Decrease) in Net Assets from Operations: |  |  |  |  |
| Capital Gain Distributions | 177277 |  |  | 155871 |
| Realized Gain (Loss) on Investments | (108786) | (16276) | (254254) | (7771) |
| Net Realized Capital Gains (Losses) on Investments | 68491 | (16276) | (254254) | 148100 |
| Net Change in Unrealized Appreciation (Depreciation) | (19644) | 495632 | 898064 | 2256575 |
| Net Gain (Loss) on Investment | 48847 | 479356 | 643810 | 2404675 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 290262 | 1126880 | 1237377 | 2632366 |
| Increase (Decrease) in Net Assets from Contract Transactions | 454309 | 2872360 | 3269890 | 748967 |
| Total Increase (Decrease) in Net Assets | 744571 | 3999240 | 4507267 | 3381333 |
| **Net Assets as of December 31, 2025:** | **$10953128** | **$19912893** | **$22137809** | **$11407411** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

#### Transamerica Life Insurance Company

#### Separate Account VA B

#### Statements of Operations and Changes in Net Assets

#### Years Ended December 31, 2025 and 2024

---

| | | |
|:---|:---|:---|
|  | Vanguard® Total Stock Market Index | Voya Global Perspectives Class S Shares |
|  | Subaccount | Subaccount |
| **Net Assets as of December 31, 2023:** | **$17497907** | **$15362** |
| Investment Income: |  |  |
| Reinvested Dividends | 269836 | 511 |
| Investment Expense: |  |  |
| Mortality and Expense Risk and Administrative Charges | 67189 | 188 |
| Net Investment Income (Loss) | 202647 | 323 |
| Increase (Decrease) in Net Assets from Operations: |  |  |
| Capital Gain Distributions | 1479344 |  |
| Realized Gain (Loss) on Investments | 119354 | (2591) |
| Net Realized Capital Gains (Losses) on Investments | 1598698 | (2591) |
| Net Change in Unrealized Appreciation (Depreciation) | 2680386 | 3521 |
| Net Gain (Loss) on Investment | 4279084 | 930 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 4481731 | 1253 |
| Increase (Decrease) in Net Assets from Contract Transactions | 1515914 | (15266) |
| Total Increase (Decrease) in Net Assets | 5997645 | (14013) |
| **Net Assets as of December 31, 2024:** | **$23495552** | **$1349** |
| Investment Income: |  |  |
| Reinvested Dividends | 294971 | 77 |
| Investment Expense: |  |  |
| Mortality and Expense Risk and Administrative Charges | 81350 | 18 |
| Net Investment Income (Loss) | 213621 | 59 |
| Increase (Decrease) in Net Assets from Operations: |  |  |
| Capital Gain Distributions | 1376993 |  |
| Realized Gain (Loss) on Investments | 132820 | 5 |
| Net Realized Capital Gains (Losses) on Investments | 1509813 | 5 |
| Net Change in Unrealized Appreciation (Depreciation) | 2491109 | 105 |
| Net Gain (Loss) on Investment | 4000922 | 110 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 4214543 | 169 |
| Increase (Decrease) in Net Assets from Contract Transactions | 1992255 | (52) |
| Total Increase (Decrease) in Net Assets | 6206798 | 117 |
| **Net Assets as of December 31, 2025:** | **$29702350** | **$1466** |

---

*See Accompanying Notes.*

*(1)See Footnote 1*

---

| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |

---

---

| | |
|:---|:---|
| **1. Organization** | **1. Organization** |
| Separate Account VA B (the Separate Account) is a segregated investment account of Transamerica Life Insurance Company (TLIC), an indirect wholly owned subsidiary of Aegon Ltd., a holding company organized under the laws of the Bermuda. | Separate Account VA B (the Separate Account) is a segregated investment account of Transamerica Life Insurance Company (TLIC), an indirect wholly owned subsidiary of Aegon Ltd., a holding company organized under the laws of the Bermuda. |
| The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940. TLIC and the Separate Account are regulated by the Securities and Exchange Commission. The assets and liabilities of the Separate Account are clearly identified and distinguished from TLIC's other assets and liabilities. The Separate Account consists of multiple investment subaccounts. Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund. Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended. Activity in these specified investment subaccounts is available to contract owners of Transamerica Variable Annuity Series, MEMBERS® Variable Annuity Series, Partners Variable Annuity Series, Transamerica Landmark℠ Variable Annuity, MEMBERS® Landmark℠ Variable Annuity, Transamerica Freedom℠ Variable Annuity, MEMBERS® Freedom℠ Variable Annuity, Transamerica Advisor Elite II, Transamerica Income Elite℠ II, Transamerica Axiom℠ II, Transamerica Principium℠ III, Transamerica Retirement Income Plus, Transamerica Variable Annuity O-Share, Transamerica ABC Variable Annuity Series, Transamerica 123 Variable Annuity, Transamerica Extra℠ Variable Annuity, MEMBERS® Extra℠ Variable Annuity, Transamerica Liberty℠ Variable Annuity, MEMBERS® Liberty℠ Variable Annuity, Transamerica Advisor Elite℠ Variable Annuity, Income Elite℠ Variable Annuity, Transamerica Axiom℠ Variable Annuity, Transamerica Principium℠ II Variable Annuity, Transamerica I-Share Variable Annuity, Transamerica Inspire℠ Variable Annuity, Transamerica Advisory Annuity, Transamerica Axiom℠ III Variable Annuity, Transamerica I-Share II Variable Annuity, and Transamerica Principium IV℠ Variable Annuity. | The Separate Account is registered with the Securities and Exchange Commission as a Unit Investment Trust pursuant to provisions of the Investment Company Act of 1940. TLIC and the Separate Account are regulated by the Securities and Exchange Commission. The assets and liabilities of the Separate Account are clearly identified and distinguished from TLIC's other assets and liabilities. The Separate Account consists of multiple investment subaccounts. Each subaccount invests exclusively in the corresponding portfolio of a Mutual Fund. Each Mutual Fund is registered as an open-end management investment company under the Investment Company Act of 1940, as amended. Activity in these specified investment subaccounts is available to contract owners of Transamerica Variable Annuity Series, MEMBERS® Variable Annuity Series, Partners Variable Annuity Series, Transamerica Landmark℠ Variable Annuity, MEMBERS® Landmark℠ Variable Annuity, Transamerica Freedom℠ Variable Annuity, MEMBERS® Freedom℠ Variable Annuity, Transamerica Advisor Elite II, Transamerica Income Elite℠ II, Transamerica Axiom℠ II, Transamerica Principium℠ III, Transamerica Retirement Income Plus, Transamerica Variable Annuity O-Share, Transamerica ABC Variable Annuity Series, Transamerica 123 Variable Annuity, Transamerica Extra℠ Variable Annuity, MEMBERS® Extra℠ Variable Annuity, Transamerica Liberty℠ Variable Annuity, MEMBERS® Liberty℠ Variable Annuity, Transamerica Advisor Elite℠ Variable Annuity, Income Elite℠ Variable Annuity, Transamerica Axiom℠ Variable Annuity, Transamerica Principium℠ II Variable Annuity, Transamerica I-Share Variable Annuity, Transamerica Inspire℠ Variable Annuity, Transamerica Advisory Annuity, Transamerica Axiom℠ III Variable Annuity, Transamerica I-Share II Variable Annuity, and Transamerica Principium IV℠ Variable Annuity. |
| The TA ProFunds UltraBear Service Class (OAM) is included in the subaccount listing only to facilitate a contract owner purchase option. | The TA ProFunds UltraBear Service Class (OAM) is included in the subaccount listing only to facilitate a contract owner purchase option. |
| **Subaccount Investment by Mutual Fund:** | **Subaccount Investment by Mutual Fund:** |
| **<u>Subaccount</u>** | **<u>Mutual Fund</u>** |
| AB Variable Products Series Fund, Inc. | AB Variable Products Series Fund, Inc. |
| AB Balanced Hedged Allocation Class B Shares | AB Balanced Hedged Allocation Portfolio Class B Shares |
| AB Large Cap Growth Class B Shares | AB Large Cap Growth Portfolio Class B Shares |
| AB Relative Value Class B Shares | AB Relative Value Class Portfolio B Shares |
| American Funds Insurance Series® | American Funds Insurance Series® |
| American Funds - Asset Allocation Class 2 Shares | American Funds - Asset Allocation Fund Class 2 Shares |
| American Funds - Asset Allocation Class 4 Shares | American Funds - Asset Allocation Fund Class 4 Shares |
| American Funds - Growth Class 2 Shares | American Funds - Growth Fund Class 2 Shares |
| American Funds - Growth Class 4 Shares | American Funds - Growth Fund Class 4 Shares |
| American Funds - Growth-Income Class 2 Shares | American Funds - Growth-Income Fund Class 2 Shares |
| American Funds - Growth-Income Class 4 Shares | American Funds - Growth-Income Fund Class 4 Shares |
| American Funds - International Class 2 Shares | American Funds - International Fund Class 2 Shares |
| American Funds - International Class 4 Shares | American Funds - International Fund Class 4 Shares |
| American Funds - New World Class 4 Shares | American Funds - New World Fund Class 4 Shares |
| American Funds - The Bond Fund of America Class 2 Shares | American Funds - The Bond Fund of America Class 2 Shares |
| American Funds - The Bond Fund of America Class 4 Shares | American Funds - The Bond Fund of America Class 4 Shares |
| BlackRock Variable Series Funds, Inc. | BlackRock Variable Series Funds, Inc. |
| BlackRock Basic Value V.I. Class I Shares | BlackRock Basic Value V.I. Fund Class I Shares |
| BlackRock Global Allocation V.I. Class I Shares | BlackRock Global Allocation V.I. Fund Class I Shares |
| BlackRock High Yield V.I. Class I Shares | BlackRock High Yield V.I. Fund Class I Shares |

---

---

| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |

---

---

| | |
|:---|:---|
| **1. Organization (continued)** | **1. Organization (continued)** |
| **Subaccount Investment by Mutual Fund:** | **Subaccount Investment by Mutual Fund:** |
| **<u>Subaccount</u>** | **<u>Mutual Fund</u>** |
| Columbia Funds Variable Series Trust | Columbia Funds Variable Series Trust |
| Columbia - Acorn | Columbia - Acorn Fund |
| Columbia - Acorn International | Columbia - Acorn International Fund |
| DFA Investment Dimensions Group Inc. | DFA Investment Dimensions Group Inc. |
| Dimensional VA Equity Allocation | Dimensional VA Equity Allocation Portfolio |
| Dimensional VA Global Bond | Dimensional VA Global Bond Portfolio |
| Dimensional VA Global Moderate Allocation | Dimensional VA Global Moderate Allocation Portfolio |
| Dimensional VA International Small | Dimensional VA International Small Portfolio |
| Dimensional VA International Value | Dimensional VA International Value Portfolio |
| Dimensional VA Short-Term Fixed | Dimensional VA Short-Term Fixed Portfolio |
| Dimensional VA U.S. Large Value | Dimensional VA U.S. Large Value Portfolio |
| Dimensional VA U.S. Targeted Value | Dimensional VA U.S. Targeted Value Portfolio |
| Fidelity® Variable Insurance Products Fund | Fidelity® Variable Insurance Products Fund |
| Fidelity® VIP Balanced Service Class 2 | Fidelity® VIP Balanced Service Portfolio Class 2 |
| Fidelity® VIP Consumer Staples Initial Class | Fidelity® VIP Consumer Staples Portfolio Initial Class |
| Fidelity® VIP Contrafund® Initial Class | Fidelity® VIP Contrafund® Portfolio Initial Class |
| Fidelity® VIP Contrafund® Service Class 2 | Fidelity® VIP Contrafund® Portfolio Service Class 2 |
| Fidelity® VIP Energy Service Class 2 | Fidelity® VIP Energy Portfolio Service Class 2 |
| Fidelity® VIP Equity-Income Initial Class | Fidelity® VIP Equity-Income Portfolio Initial Class |
| Fidelity® VIP Equity-Income Service Class 2 | Fidelity® VIP Equity-Income Portfolio Service Class 2 |
| Fidelity® VIP Growth Initial Class | Fidelity® VIP Growth Portfolio Initial Class |
| Fidelity® VIP Growth Service Class 2 | Fidelity® VIP Growth Portfolio Service Class 2 |
| Fidelity® VIP Growth Opportunities Service Class 2 | Fidelity® VIP Growth Opportunities Portfolio Service Class 2 |
| Fidelity® VIP Health Care Service Class 2 | Fidelity® VIP Health Care Portfolio Service Class 2 |
| Fidelity® VIP Mid Cap Initial Class | Fidelity® VIP Mid Cap Portfolio Initial Class |
| Fidelity® VIP Mid Cap Service Class 2 | Fidelity® VIP Mid Cap Portfolio Service Class 2 |
| Fidelity® VIP Technology Initial Class | Fidelity® VIP Technology Portfolio Initial Class |
| Fidelity® VIP Utilities Initial Class | Fidelity® VIP Utilities Portfolio Initial Class |
| Fidelity® VIP Value Strategies Initial Class | Fidelity® VIP Value Strategies Portfolio Initial Class |
| Fidelity® VIP Value Strategies Service Class 2 | Fidelity® VIP Value Strategies Portfolio Service Class 2 |
| Franklin Templeton Variable Insurance Products Trust | Franklin Templeton Variable Insurance Products Trust |
| Franklin Allocation Class 4 Shares | Franklin Allocation Fund Class 4 Shares |
| Franklin Income Class 2 Shares | Franklin Income Class Fund 2 Shares |
| Franklin Mutual Shares Class 2 Shares | Franklin Mutual Shares Fund Class 2 Shares |
| Franklin Templeton Foreign Class 2 Shares | Franklin Templeton Foreign Fund Class 2 Shares |
| AIM Variable Insurance Funds (Invesco Variable Insurance Funds) | AIM Variable Insurance Funds (Invesco Variable Insurance Funds) |
| Invesco V.I. American Franchise Series II Shares | Invesco V.I. American Franchise Fund Series II Shares |
| Janus Aspen Series | Janus Aspen Series |
| Janus Henderson - Enterprise Service Shares | Janus Henderson - Enterprise Portfolio Service Shares |
| Janus Henderson - Global Research Service Shares | Janus Henderson - Global Research Portfolio Service Shares |
| Janus Henderson - Mid Cap Value Service Shares | Janus Henderson - Mid Cap Value Portfolio Service Shares |
| MFS® Variable Insurance Trust | MFS® Variable Insurance Trust |
| MFS® New Discovery Service Class | MFS® New Discovery Series Service Class |

---

---

| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |

---

---

| | | | |
|:---|:---|:---|:---|
| **1. Organization (continued)** | **1. Organization (continued)** | **1. Organization (continued)** | **1. Organization (continued)** |
| **Subaccount Investment by Mutual Fund:** | **Subaccount Investment by Mutual Fund:** | **Subaccount Investment by Mutual Fund:** | **Subaccount Investment by Mutual Fund:** |
| **<u>Subaccount</u>** | **<u>Mutual Fund</u>** | **<u>Mutual Fund</u>** | **<u>Mutual Fund</u>** |
| MFS® Variable Insurance Trust |  | MFS® Variable Insurance Trust | MFS® Variable Insurance Trust |
| MFS® Total Return Service Class |  |  | MFS® Total Return Series Service Class |
| Nationwide Variable Insurance Trust |  | Nationwide Variable Insurance Trust | Nationwide Variable Insurance Trust |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares |  |  | NVIT Fidelity Institutional AM® Emerging Markets Fund Class D Shares |
| Putnam Variable Trust |  | Putnam Variable Trust | Putnam Variable Trust |
| Putnam VT International Value Class IB Shares |  |  | Putnam VT International Value Fund Class IB Shares |
| State Street Variable Insurance Series Funds, Inc. |  | State Street Variable Insurance Series Funds, Inc. | State Street Variable Insurance Series Funds, Inc. |
| State Street Total Return V.I.S. Class 3 Shares |  |  | State Street Total Return V.I.S. Fund Class 3 Shares |
| Transamerica Series Trust |  | Transamerica Series Trust | Transamerica Series Trust |
| TA 60/40 Allocation Service Class |  |  | Transamerica 60/40 Allocation VP Service Class |
| TA Aegon Bond Initial Class |  |  | Transamerica Aegon Bond VP Initial Class |
| TA Aegon Bond Service Class |  |  | Transamerica Aegon Bond VP Service Class |
| TA Aegon Core Bond Service Class |  |  | Transamerica Aegon Core Bond VP Service Class |
| TA Aegon High Yield Bond Initial Class |  |  | Transamerica Aegon High Yield Bond VP Initial Class |
| TA Aegon High Yield Bond Service Class |  |  | Transamerica Aegon High Yield Bond VP Service Class |
| TA Aegon Sustainable Equity Income Initial Class |  |  | Transamerica Aegon Sustainable Equity Income VP Initial Class |
| TA Aegon Sustainable Equity Income Service Class |  |  | Transamerica Aegon Sustainable Equity Income VP Service Class |
| TA Aegon U.S. Government Securities Initial Class |  |  | Transamerica Aegon U.S. Government Securities VP Initial Class |
| TA Aegon U.S. Government Securities Service Class |  |  | Transamerica Aegon U.S. Government Securities VP Service Class |
| TA American Funds Managed Risk - Balanced Service Class | TA American Funds Managed Risk - Balanced Service Class | TA American Funds Managed Risk - Balanced Service Class | Transamerica American Funds Managed Risk - Balanced VP Service Class |
| TA BlackRock Government Money Market Initial Class |  |  | Transamerica BlackRock Government Money Market VP Initial Class |
| TA BlackRock Government Money Market Service Class | TA BlackRock Government Money Market Service Class |  | Transamerica BlackRock Government Money Market VP Service Class |
| TA BlackRock iShares Active Asset Allocation - Conservative Service Class |  |  | Transamerica BlackRock iShares Active Asset Allocation - Conservative VP Service Class |
| TA BlackRock iShares Active Asset Allocation - Moderate Service Class |  |  | Transamerica BlackRock iShares Active Asset Allocation - Moderate VP Service Class |
| TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class |  |  | Transamerica BlackRock iShares Active Asset Allocation - Moderate Growth VP Service Class |
| TA BlackRock iShares Dynamic Allocation - Balanced Service Class |  |  | Transamerica BlackRock iShares Dynamic Allocation - Balanced VP Service Class |
| TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class |  |  | Transamerica BlackRock iShares Dynamic Allocation - Moderate Growth VP Service Class |
| TA BlackRock iShares Edge 100 Service Class |  |  | Transamerica BlackRock iShares Edge 100 VP Service Class |
| TA BlackRock iShares Edge 40 Initial Class |  |  | Transamerica BlackRock iShares Edge 40 VP Initial Class |
| TA BlackRock iShares Edge 40 Service Class |  |  | Transamerica BlackRock iShares Edge 40 VP Service Class |
| TA BlackRock iShares Edge 50 Service Class |  |  | Transamerica BlackRock iShares Edge 50 VP Service Class |
| TA BlackRock iShares Edge 75 Service Class |  |  | Transamerica BlackRock iShares Edge 75 VP Service Class |
| TA BlackRock iShares Tactical - Balanced Service Class |  |  | Transamerica BlackRock iShares Tactical - Balanced VP Service Class |
| TA BlackRock iShares Tactical - Conservative Service Class | TA BlackRock iShares Tactical - Conservative Service Class | TA BlackRock iShares Tactical - Conservative Service Class | Transamerica BlackRock iShares Tactical - Conservative VP Service Class |

---

---

| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |

---

---

| | | |
|:---|:---|:---|
| **1. Organization (continued)** | **1. Organization (continued)** | **1. Organization (continued)** |
| **Subaccount Investment by Mutual Fund:** | **Subaccount Investment by Mutual Fund:** | **Subaccount Investment by Mutual Fund:** |
| **<u>Subaccount</u>** | **<u>Mutual Fund</u>** | **<u>Mutual Fund</u>** |
| Transamerica Series Trust | Transamerica Series Trust | Transamerica Series Trust |
| TA BlackRock iShares Tactical - Growth Service Class |  | Transamerica BlackRock iShares Tactical - Growth VP Service Class |
| TA BlackRock Real Estate Securities Initial Class |  | Transamerica BlackRock Real Estate Securities VP Initial Class |
| TA BlackRock Real Estate Securities Service Class |  | Transamerica BlackRock Real Estate Securities VP Service Class |
| TA BlackRock Tactical Allocation Service Class |  | Transamerica BlackRock Tactical Allocation VP Service Class |
| TA Goldman Sachs 70/30 Service Class |  | Transamerica Goldman Sachs 70/30 VP Service Class |
| TA Goldman Sachs Managed Risk - Balanced ETF Service Class | TA Goldman Sachs Managed Risk - Balanced ETF Service Class | Transamerica Goldman Sachs Managed Risk - Balanced ETF VP Service Class |
| TA Goldman Sachs Managed Risk - Conservative ETF Service Class |  | Transamerica Goldman Sachs Managed Risk - Conservative ETF VP Service Class |
| TA Goldman Sachs Managed Risk - Growth ETF Service Class | TA Goldman Sachs Managed Risk - Growth ETF Service Class | Transamerica Goldman Sachs Managed Risk - Growth ETF VP Service Class |
| TA Great Lakes Advisors Large Cap Value Service Class |  | Transamerica Great Lakes Advisors Large Cap Value VP Service Class |
| TA International Focus Initial Class |  | Transamerica International Focus VP Initial Class |
| TA International Focus Service Class |  | Transamerica International Focus VP Service Class |
| TA Janus Balanced Service Class |  | Transamerica Janus Balanced VP Service Class |
| TA Janus Mid-Cap Growth Initial Class |  | Transamerica Janus Mid-Cap Growth VP Initial Class |
| TA Janus Mid-Cap Growth Service Class |  | Transamerica Janus Mid-Cap Growth VP Service Class |
| TA JPMorgan Asset Allocation - Conservative Initial Class |  | Transamerica JPMorgan Asset Allocation - Conservative VP Initial Class |
| TA JPMorgan Asset Allocation - Conservative Service Class | TA JPMorgan Asset Allocation - Conservative Service Class | Transamerica JPMorgan Asset Allocation - Conservative VP Service Class |
| TA JPMorgan Asset Allocation - Moderate Initial Class |  | Transamerica JPMorgan Asset Allocation - Moderate VP Initial Class |
| TA JPMorgan Asset Allocation - Moderate Service Class |  | Transamerica JPMorgan Asset Allocation - Moderate VP Service Class |
| TA JPMorgan Asset Allocation - Moderate Growth Initial Class | TA JPMorgan Asset Allocation - Moderate Growth Initial Class | Transamerica JPMorgan Asset Allocation - Moderate Growth VP Initial Class |
| TA JPMorgan Asset Allocation - Moderate Growth Service Class | TA JPMorgan Asset Allocation - Moderate Growth Service Class | Transamerica JPMorgan Asset Allocation - Moderate Growth VP Service Class |
| TA JPMorgan Diversified Equity Allocation Initial Class |  | Transamerica JPMorgan Diversified Equity Allocation VP Initial Class |
| TA JPMorgan Diversified Equity Allocation Service Class |  | Transamerica JPMorgan Diversified Equity Allocation VP Service Class |
| TA JPMorgan Enhanced Index Initial Class |  | Transamerica JPMorgan Enhanced Index VP Initial Class |
| TA JPMorgan Enhanced Index Service Class |  | Transamerica JPMorgan Enhanced Index VP Service Class |
| TA JPMorgan International Moderate Growth Initial Class | TA JPMorgan International Moderate Growth Initial Class | Transamerica JPMorgan International Moderate Growth VP Initial Class |
| TA JPMorgan International Moderate Growth Service Class | TA JPMorgan International Moderate Growth Service Class | Transamerica JPMorgan International Moderate Growth VP Service Class |
| TA JPMorgan Tactical Allocation Service Class |  | Transamerica JPMorgan Tactical Allocation VP Service Class |
| TA Madison Diversified Income Service Class |  | Transamerica Madison Diversified Income VP Service Class |
| TA Market Participation Strategy Service Class |  | Transamerica Market Participation Strategy VP Service Class |
| TA Morgan Stanley Global Allocation Service Class |  | Transamerica Morgan Stanley Global Allocation VP Service Class |
| TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class |  | Transamerica Morgan Stanley Global Allocation Managed Risk - Balanced VP Service Class |

---

---

| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |

---

---

| | |
|:---|:---|
| **1. Organization (continued)** | **1. Organization (continued)** |
| **Subaccount Investment by Mutual Fund:** | **Subaccount Investment by Mutual Fund:** |
| **<u>Subaccount</u>** | **<u>Mutual Fund</u>** |
| Transamerica Series Trust | Transamerica Series Trust |
| TA MSCI EAFE Index Service Class | Transamerica MSCI EAFE Index VP Service Class |
| TA Multi-Managed Balanced Initial Class | Transamerica Multi-Managed Balanced VP Initial Class |
| TA Multi-Managed Balanced Service Class | Transamerica Multi-Managed Balanced VP Service Class |
| TA PineBridge Inflation Opportunities Service Class | Transamerica PineBridge Inflation Opportunities VP Service Class |
| TA ProFunds UltraBear Service Class (OAM) | Transamerica ProFunds UltraBear VP Service Class (OAM) |
| TA S&P 500 Index Initial Class | Transamerica S&P 500 Index VP Initial Class |
| TA S&P 500 Index Service Class | Transamerica S&P 500 Index VP Service Class |
| TA Small/Mid Cap Value Initial Class | Transamerica Small/Mid Cap Value VP Initial Class |
| TA Small/Mid Cap Value Service Class | Transamerica Small/Mid Cap Value VP Service Class |
| TA T. Rowe Price Small Cap Initial Class | Transamerica T. Rowe Price Small Cap VP Initial Class |
| TA T. Rowe Price Small Cap Service Class | Transamerica T. Rowe Price Small Cap VP Service Class |
| TA TSW International Equity Initial Class | Transamerica TSW International Equity VP Initial Class |
| TA TSW International Equity Service Class | Transamerica TSW International Equity VP Service Class |
| TA TSW Mid Cap Value Opportunities Service Class | Transamerica TSW Mid Cap Value Opportunities VP Service Class |
| TA WMC US Growth Initial Class | Transamerica WMC US Growth VP Initial Class |
| TA WMC US Growth Service Class | Transamerica WMC US Growth VP Service Class |
| Vanguard® Variable Insurance Fund | Vanguard® Variable Insurance Fund |
| Vanguard® Balanced | Vanguard® Balanced Portfolio |
| Vanguard® Capital Growth | Vanguard® Capital Growth Portfolio |
| Vanguard® Conservative Allocation | Vanguard® Conservative Allocation Portfolio |
| Vanguard® Diversified Value | Vanguard® Diversified Value Portfolio |
| Vanguard® Equity Income | Vanguard® Equity Income Portfolio |
| Vanguard® Equity Index | Vanguard® Equity Index Portfolio |
| Vanguard® Global Bond Index | Vanguard® Global Bond Index Portfolio |
| Vanguard® Growth | Vanguard® Growth Portfolio |
| Vanguard® High Yield Bond | Vanguard® High Yield Bond Portfolio |
| Vanguard® International | Vanguard® International Portfolio |
| Vanguard® Mid-Cap Index | Vanguard® Mid-Cap Index Portfolio |
| Vanguard® Moderate Allocation | Vanguard® Moderate Allocation Portfolio |
| Vanguard® Money Market | Vanguard® Money Market Portfolio |
| Vanguard® Real Estate Index | Vanguard® Real Estate Index Portfolio |
| Vanguard® Short-Term Investment Grade | Vanguard® Short-Term Investment Grade Portfolio |
| Vanguard® Total Bond Market Index | Vanguard® Total Bond Market Index Portfolio |
| Vanguard® Total International Stock Market Index | Vanguard® Total International Stock Market Index Portfolio |
| Vanguard® Total Stock Market Index | Vanguard® Total Stock Market Index Portfolio |
| Voya Investors Trust | Voya Investors Trust |
| Voya Global Perspectives Class S Shares | Voya Global Perspectives Portfolio Class S Shares |
| Voya Large Cap Value Class S Shares | Voya Large Cap Value Portfolio Class S Shares |

---

---

| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |

---

---

| | |
|:---|:---|
| **1. Organization (continued)** | **1. Organization (continued)** |
| Each period reported on reflects a full twelve month period except as follows: | Each period reported on reflects a full twelve month period except as follows: |
| **<u>Subaccount</u>** | **<u>Inception Date</u>** |
| Putnam VT International Value Class IB Shares | October 20, 2025 |
| TA S&P 500 Index Initial Class | May 2, 2022 |
| The following subaccount name changes were made effective during the fiscal year ended December 31, 2025: | The following subaccount name changes were made effective during the fiscal year ended December 31, 2025: |
| **<u>Subaccount</u>** | **<u>Formerly</u>** |
| Columbia - Acorn | Wanger Acorn |
| Columbia - Acorn International | Wanger International |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | NVIT Emerging Markets Class D Shares |
| TA JPMorgan Diversified Equity Allocation Initial Class | TA JPMorgan Asset Allocation - Growth Initial Class |
| TA JPMorgan Diversified Equity Allocation Service Class | TA JPMorgan Asset Allocation - Growth Service Class |

---

---

| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |
| **2. Summary of Significant Accounting Policies** |
| The financial statements included herein have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for variable annuity separate accounts registered as unit investment trusts. The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions regarding matters that affect the reported amount of assets and liabilities. Actual results could differ from those estimates. |
| **Investments** |
| Net purchase payments received by the Separate Account are invested in the portfolios of the Mutual Funds as selected by the contract owner. Investments are stated at the closing net asset values per share on December 31, 2025. |
| Realized capital gains and losses from sales of shares in the Separate Account are determined on the first-in, first-out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed) and dividend income is recorded on the ex-dividend date. Unrealized gains or losses from investments in the Mutual Funds are included in the Statements of Operations and Changes in Net Assets. |
| **Dividend Income** |
| Dividends received from the Mutual Fund investments are reinvested to purchase additional mutual fund shares. |
| **Fair Value Measurements and Fair Value Hierarchy** |
| The Accounting Standards Codification™ (ASC) 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the nature of inputs used to measure fair value and enhances disclosure requirements for fair value measurements. |
| The Separate Account has categorized its financial instruments into a three level hierarchy which is based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument. |
| Financial assets and liabilities recorded at fair value on the Statements of Assets and Liabilities are categorized as follows: |
| Level 1. Unadjusted quoted prices for identical assets or liabilities in an active market. |
| Level 2. Quoted prices in markets that are not active or inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following: |
| a) Quoted prices for similar assets or liabilities in active markets |
| b) Quoted prices for identical or similar assets or liabilities in non-active markets |
| c) Inputs other than quoted market prices that are observable |
| d) Inputs that are derived principally from or corroborated by observable market data through correlation or other means. |
| Level 3. Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. They reflect management's own assumptions about the assumptions a market participant would use in pricing the asset or liability. |
| All investments in the Mutual Funds included in the Statements of Assets and Liabilities are stated at fair value and are based upon published closing NAV per share and therefore are considered Level 1. |
| There were no transfers between Level 1, Level 2 and Level 3 during the year ended December 31, 2025. |

---

---

| | | |
|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **3. Investments** |  |  |
| The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2025 were as follows: | The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2025 were as follows: | The aggregate cost of purchases and proceeds from sales of investments for the period ended December 31, 2025 were as follows: |
| **Subaccount** | **Purchases** | **Sales** |
| AB Balanced Hedged Allocation Class B Shares | $9377772 | $16432408 |
| AB Large Cap Growth Class B Shares | 3063048 | 4389753 |
| AB Relative Value Class B Shares | 35814463 | 43517513 |
| American Funds - Asset Allocation Class 2 Shares | 80156468 | 129584299 |
| American Funds - Asset Allocation Class 4 Shares | 23893599 | 4760995 |
| American Funds - Growth Class 2 Shares | 111392109 | 200562284 |
| American Funds - Growth Class 4 Shares | 208992381 | 27710773 |
| American Funds - Growth-Income Class 2 Shares | 132037861 | 135561474 |
| American Funds - Growth-Income Class 4 Shares | 93350187 | 16756465 |
| American Funds - International Class 2 Shares | 11513905 | 35190295 |
| American Funds - International Class 4 Shares | 16223982 | 4416646 |
| American Funds - New World Class 4 Shares | 10829326 | 3418611 |
| American Funds - The Bond Fund of America Class 2 Shares | 26217873 | 37646752 |
| American Funds - The Bond Fund of America Class 4 Shares | 14899340 | 7941617 |
| BlackRock Basic Value V.I. Class I Shares | 3244820 | 2980962 |
| BlackRock Global Allocation V.I. Class I Shares | 1325944 | 1447698 |
| BlackRock High Yield V.I. Class I Shares | 448159 | 582883 |
| Columbia - Acorn |  |  |
| Columbia - Acorn International | 160066 | 14561 |
| Dimensional VA Equity Allocation | 893736 | 47630 |
| Dimensional VA Global Bond | 2818911 | 868351 |
| Dimensional VA Global Moderate Allocation | 2476650 | 765294 |
| Dimensional VA International Small | 390042 | 121070 |
| Dimensional VA International Value | 497633 | 197502 |
| Dimensional VA Short-Term Fixed | 1263367 | 839597 |
| Dimensional VA U.S. Large Value | 995441 | 456697 |
| Dimensional VA U.S. Targeted Value | 920168 | 157014 |
| Fidelity® VIP Balanced Service Class 2 | 52112827 | 91028282 |
| Fidelity® VIP Consumer Staples Initial Class | 4069753 | 1645179 |
| Fidelity® VIP Contrafund® Initial Class | 19091 | 3627 |
| Fidelity® VIP Contrafund® Service Class 2 | 264508458 | 181573590 |
| Fidelity® VIP Energy Service Class 2 | 8224947 | 8215992 |
| Fidelity® VIP Equity-Income Initial Class | 4622 | 3010 |
| Fidelity® VIP Equity-Income Service Class 2 | 2899851 | 5168302 |
| Fidelity® VIP Growth Initial Class | 5080 | 2691 |
| Fidelity® VIP Growth Service Class 2 | 5603179 | 7536600 |

---

---

| | | |
|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **3. Investments (continued)** |  |  |
| **Subaccount** | **Purchases** | **Sales** |
| Fidelity® VIP Growth Opportunities Service Class 2 | 72901 | 304029 |
| Fidelity® VIP Health Care Service Class 2 | $8204761 | $3808792 |
| Fidelity® VIP Mid Cap Initial Class | 16232 | 37625 |
| Fidelity® VIP Mid Cap Service Class 2 | 74593609 | 58211497 |
| Fidelity® VIP Technology Initial Class | 65732548 | 23212308 |
| Fidelity® VIP Utilities Initial Class | 8181433 | 2250946 |
| Fidelity® VIP Value Strategies Initial Class | 19927 | 91298 |
| Fidelity® VIP Value Strategies Service Class 2 | 29487920 | 42136530 |
| Franklin Allocation Class 4 Shares | 2414902 | 8404627 |
| Franklin Income Class 2 Shares | 2216614 | 5500150 |
| Franklin Mutual Shares Class 2 Shares | 968777 | 1236166 |
| Franklin Templeton Foreign Class 2 Shares | 1066084 | 1787877 |
| Invesco V.I. American Franchise Series II Shares | 656271 | 766965 |
| Janus Henderson - Enterprise Service Shares | 1330573 | 2640016 |
| Janus Henderson - Global Research Service Shares | 2058667 | 3716623 |
| Janus Henderson - Mid Cap Value Service Shares | 297918 | 220706 |
| MFS® New Discovery Service Class | 79848 | 3762494 |
| MFS® Total Return Service Class | 2549955 | 3433619 |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | 11 | 77 |
| Putnam VT International Value Class IB Shares | 267554 | 351 |
| State Street Total Return V.I.S. Class 3 Shares | 8055191 | 8859902 |
| TA 60/40 Allocation Service Class | 12294929 | 13569411 |
| TA Aegon Bond Initial Class | 16658981 | 16898480 |
| TA Aegon Bond Service Class | 37516136 | 73127374 |
| TA Aegon Core Bond Service Class | 20169302 | 41482329 |
| TA Aegon High Yield Bond Initial Class | 5163179 | 7437260 |
| TA Aegon High Yield Bond Service Class | 16686926 | 19460540 |
| TA Aegon Sustainable Equity Income Initial Class | 6519167 | 27650840 |
| TA Aegon Sustainable Equity Income Service Class | 10950391 | 20745347 |
| TA Aegon U.S. Government Securities Initial Class | 5499469 | 9059643 |
| TA Aegon U.S. Government Securities Service Class | 54334343 | 91905452 |
| TA American Funds Managed Risk - Balanced Service Class | 61873487 | 149914986 |
| TA BlackRock Government Money Market Initial Class | 39752177 | 40989856 |
| TA BlackRock Government Money Market Service Class | 291355327 | 365231107 |
| TA BlackRock iShares Active Asset Allocation - Conservative Service Class | 7986661 | 33958834 |
| TA BlackRock iShares Active Asset Allocation - Moderate Service Class | 25180721 | 147927949 |

---

---

| | | |
|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **3. Investments (continued)** |  |  |
| **Subaccount** | **Purchases** | **Sales** |
| TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | 10155209 | 54800176 |
| TA BlackRock iShares Dynamic Allocation - Balanced Service Class | 19203021 | 112096773 |
| TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | $8880845 | $56427425 |
| TA BlackRock iShares Edge 100 Service Class | 12234157 | 14536346 |
| TA BlackRock iShares Edge 40 Initial Class | 1629438 | 1812821 |
| TA BlackRock iShares Edge 40 Service Class | 14370116 | 30597714 |
| TA BlackRock iShares Edge 50 Service Class | 31548713 | 58974597 |
| TA BlackRock iShares Edge 75 Service Class | 16501770 | 25285606 |
| TA BlackRock iShares Tactical - Balanced Service Class | 12588131 | 57156908 |
| TA BlackRock iShares Tactical - Conservative Service Class | 6669751 | 28280123 |
| TA BlackRock iShares Tactical - Growth Service Class | 14086770 | 46242745 |
| TA BlackRock Real Estate Securities Initial Class | 1517893 | 2889246 |
| TA BlackRock Real Estate Securities Service Class | 5673363 | 10314052 |
| TA BlackRock Tactical Allocation Service Class | 20933793 | 154501745 |
| TA Goldman Sachs 70/30 Service Class | 6456595 | 1884015 |
| TA Goldman Sachs Managed Risk - Balanced ETF Service Class | 231446361 | 612421815 |
| TA Goldman Sachs Managed Risk - Conservative ETF Service Class | 23986431 | 71606544 |
| TA Goldman Sachs Managed Risk - Growth ETF Service Class | 141435509 | 322998805 |
| TA Great Lakes Advisors Large Cap Value Service Class | 14123074 | 14487876 |
| TA International Focus Initial Class | 10402876 | 7744004 |
| TA International Focus Service Class | 17531828 | 17470404 |
| TA Janus Balanced Service Class | 121729216 | 174349593 |
| TA Janus Mid-Cap Growth Initial Class | 11866495 | 8679991 |
| TA Janus Mid-Cap Growth Service Class | 36243453 | 26871189 |
| TA JPMorgan Asset Allocation - Conservative Initial Class | 10950838 | 18143479 |
| TA JPMorgan Asset Allocation - Conservative Service Class | 30793786 | 106689278 |
| TA JPMorgan Asset Allocation - Moderate Initial Class | 23298787 | 39930917 |
| TA JPMorgan Asset Allocation - Moderate Service Class | 137856390 | 673191365 |
| TA JPMorgan Asset Allocation - Moderate Growth Initial Class | 16333053 | 50386188 |
| TA JPMorgan Asset Allocation - Moderate Growth Service Class | 61279670 | 410000353 |
| TA JPMorgan Diversified Equity Allocation Initial Class | 17224419 | 38006246 |
| TA JPMorgan Diversified Equity Allocation Service Class | 20576707 | 44445549 |
| TA JPMorgan Enhanced Index Initial Class | 25832409 | 16280130 |
| TA JPMorgan Enhanced Index Service Class | 44768633 | 36950932 |
| TA JPMorgan International Moderate Growth Initial Class | 2 | 119501 |
| TA JPMorgan International Moderate Growth Service Class | 17604411 | 62529483 |

---

---

| | | |
|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **3. Investments (continued)** |  |  |
| **Subaccount** | **Purchases** | **Sales** |
| TA JPMorgan Tactical Allocation Service Class | 25477877 | 132600331 |
| TA Madison Diversified Income Service Class | 9452852 | 20391543 |
| TA Market Participation Strategy Service Class | 15702587 | 54447127 |
| TA Morgan Stanley Global Allocation Service Class | $49386021 | $144509691 |
| TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | 23549348 | 37016290 |
| TA MSCI EAFE Index Service Class | 25370978 | 17299319 |
| TA Multi-Managed Balanced Initial Class | 20227353 | 16161575 |
| TA Multi-Managed Balanced Service Class | 148262924 | 214640479 |
| TA PineBridge Inflation Opportunities Service Class | 6021030 | 19834393 |
| TA ProFunds UltraBear Service Class (OAM) | 5427456 | 4257404 |
| TA S&P 500 Index Initial Class | 5098249 | 1159597 |
| TA S&P 500 Index Service Class | 171878104 | 112116353 |
| TA Small/Mid Cap Value Initial Class | 10204849 | 9475541 |
| TA Small/Mid Cap Value Service Class | 35636239 | 29829675 |
| TA T. Rowe Price Small Cap Initial Class | 17802631 | 14110078 |
| TA T. Rowe Price Small Cap Service Class | 92531437 | 53675494 |
| TA TSW International Equity Initial Class | 8757812 | 11555270 |
| TA TSW International Equity Service Class | 16958886 | 14024370 |
| TA TSW Mid Cap Value Opportunities Service Class | 64391132 | 32557065 |
| TA WMC US Growth Initial Class | 127723226 | 108829835 |
| TA WMC US Growth Service Class | 203784391 | 158549191 |
| Vanguard® Balanced | 23519778 | 3504000 |
| Vanguard® Capital Growth | 2333844 | 1288703 |
| Vanguard® Conservative Allocation | 13895204 | 2018542 |
| Vanguard® Diversified Value | 1008433 | 395604 |
| Vanguard® Equity Income | 2472478 | 1931723 |
| Vanguard® Equity Index | 2580994 | 2022174 |
| Vanguard® Global Bond Index | 469485 | 29419 |
| Vanguard® Growth | 2391195 | 2439591 |
| Vanguard® High Yield Bond | 866691 | 607866 |
| Vanguard® International | 3056799 | 1871978 |
| Vanguard® Mid-Cap Index | 16876850 | 4502086 |
| Vanguard® Moderate Allocation | 11617271 | 6033110 |
| Vanguard® Money Market | 6900673 | 4717535 |
| Vanguard® Real Estate Index | 1722714 | 849716 |
| Vanguard® Short-Term Investment Grade | 5432823 | 1912937 |

---

---

| | | |
|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| **3. Investments (continued)** |  |  |
| **Subaccount** | **Purchases** | **Sales** |
| Vanguard® Total Bond Market Index | 6193668 | 2330216 |
| Vanguard® Total International Stock Market Index | 2016844 | 884320 |
| Vanguard® Total Stock Market Index | 5349994 | 1767137 |
| Voya Global Perspectives Class S Shares | 77 | 70 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Units** |  |  |  |  |  |  |
| The change in units outstanding were as follows: |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** |
| AB Balanced Hedged Allocation Class B Shares | 445909 | (2957661) | (2511752) | 356934 | (3268638) | (2911704) |
| AB Large Cap Growth Class B Shares | 85544 | (721014) | (635470) | 16313 | (776973) | (760660) |
| AB Relative Value Class B Shares | 1440539 | (5936096) | (4495557) | 1230229 | (5996380) | (4766151) |
| American Funds - Asset Allocation Class 2 Shares | 1767856 | (17759053) | (15991197) | 2004970 | (19716495) | (17711525) |
| American Funds - Asset Allocation Class 4 Shares | 1088425 | (256686) | 831739 | 1036892 | (259969) | 776923 |
| American Funds - Growth Class 2 Shares | 1404804 | (6097924) | (4693120) | 1041547 | (6816684) | (5775137) |
| American Funds - Growth Class 4 Shares | 7454470 | (1087170) | 6367300 | 6792578 | (731213) | 6061365 |
| American Funds - Growth-Income Class 2 Shares | 951269 | (6461613) | (5510344) | 911269 | (6596473) | (5685204) |
| American Funds - Growth-Income Class 4 Shares | 2967008 | (760933) | 2206075 | 3484185 | (392478) | 3091707 |
| American Funds - International Class 2 Shares | 1512192 | (5220476) | (3708284) | 1651294 | (5091188) | (3439894) |
| American Funds - International Class 4 Shares | 1166351 | (296340) | 870011 | 971081 | (188957) | 782124 |
| American Funds - New World Class 4 Shares | 616732 | (205823) | 410909 | 501359 | (73318) | 428041 |
| American Funds - The Bond Fund of America Class 2 Shares | 5963370 | (11222308) | (5258938) | 4516472 | (7992950) | (3476478) |
| American Funds - The Bond Fund of America Class 4 Shares | 1442028 | (814272) | 627756 | 1933015 | (640061) | 1292954 |
| BlackRock Basic Value V.I. Class I Shares | 135082 | (540780) | (405698) | 159712 | (499414) | (339702) |
| BlackRock Global Allocation V.I. Class I Shares | 185052 | (430858) | (245806) | 55943 | (331492) | (275549) |
| BlackRock High Yield V.I. Class I Shares | 81423 | (165400) | (83977) | 65767 | (134734) | (68967) |
| Columbia - Acorn |  |  |  |  |  |  |
| Columbia - Acorn International | 91948 | (2711) | 89237 | 7 | (1604) | (1597) |
| Dimensional VA Equity Allocation | 43045 | (2203) | 40842 | 11624 | (3451) | 8173 |
| Dimensional VA Global Bond | 267941 | (82251) | 185690 | 103952 | (82449) | 21503 |
| Dimensional VA Global Moderate Allocation | 150832 | (51309) | 99523 | 48945 | (2610) | 46335 |
| Dimensional VA International Small | 19551 | (8102) | 11449 | 9927 | (1838) | 8089 |
| Dimensional VA International Value | 19463 | (10941) | 8522 | 41144 | (6603) | 34541 |
| Dimensional VA Short-Term Fixed | 102160 | (74302) | 27858 | 163572 | (65150) | 98422 |
| Dimensional VA U.S. Large Value | 48872 | (29747) | 19125 | 74430 | (14891) | 59539 |
| Dimensional VA U.S. Targeted Value | 38149 | (9152) | 28997 | 26607 | (7609) | 18998 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Units (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** |
| Fidelity® VIP Balanced Service Class 2 | 1553437 | (12189702) | (10636265) | 3132991 | (13270353) | (10137362) |
| Fidelity® VIP Consumer Staples Initial Class | 260398 | (114879) | 145519 | 182002 | (110115) | 71887 |
| Fidelity® VIP Contrafund® Initial Class | 2 | (549) | (547) | 2 | (898) | (896) |
| Fidelity® VIP Contrafund® Service Class 2 | 4408907 | (12185598) | (7776691) | 5250561 | (13755264) | (8504703) |
| Fidelity® VIP Energy Service Class 2 | 286379 | (289685) | (3306) | 384879 | (225219) | 159660 |
| Fidelity® VIP Equity-Income Initial Class |  | (751) | (751) |  | (745) | (745) |
| Fidelity® VIP Equity-Income Service Class 2 | 172232 | (1297890) | (1125658) | 10151 | (1149016) | (1138865) |
| Fidelity® VIP Growth Initial Class |  | (354) | (354) |  | (340) | (340) |
| Fidelity® VIP Growth Service Class 2 | 77299 | (1172915) | (1095616) | 308209 | (876936) | (568727) |
| Fidelity® VIP Growth Opportunities Service Class 2 | 3069 | (30659) | (27590) | 4276 | (83560) | (79284) |
| Fidelity® VIP Health Care Service Class 2 | 569719 | (288668) | 281051 | 603683 | (205268) | 398415 |
| Fidelity® VIP Mid Cap Initial Class | 653 | (1802) | (1149) | 252 | (908) | (656) |
| Fidelity® VIP Mid Cap Service Class 2 | 2332648 | (6182627) | (3849979) | 2384057 | (5623151) | (3239094) |
| Fidelity® VIP Technology Initial Class | 2147645 | (838163) | 1309482 | 2153647 | (541445) | 1612202 |
| Fidelity® VIP Utilities Initial Class | 407067 | (117801) | 289266 | 304661 | (143794) | 160867 |
| Fidelity® VIP Value Strategies Initial Class | 12 | (11220) | (11208) | 231 | (24598) | (24367) |
| Fidelity® VIP Value Strategies Service Class 2 | 1819299 | (5051978) | (3232679) | 2079295 | (4952342) | (2873047) |
| Franklin Allocation Class 4 Shares | 19537 | (2779289) | (2759752) | 19607 | (2981647) | (2962040) |
| Franklin Income Class 2 Shares | 163168 | (2505434) | (2342266) | 29905 | (2649197) | (2619292) |
| Franklin Mutual Shares Class 2 Shares | 1045 | (568170) | (567125) | 14924 | (704655) | (689731) |
| Franklin Templeton Foreign Class 2 Shares | 41430 | (1312803) | (1271373) | 45488 | (1581180) | (1535692) |
| Invesco V.I. American Franchise Series II Shares | 2042 | (149557) | (147515) | 1000 | (152148) | (151148) |
| Janus Henderson - Enterprise Service Shares | 9883 | (561179) | (551296) | 15507 | (944975) | (929468) |
| Janus Henderson - Global Research Service Shares | 65351 | (1267336) | (1201985) | 293238 | (1241648) | (948410) |
| Janus Henderson - Mid Cap Value Service Shares | 1037 | (48812) | (47775) | 655 | (24524) | (23869) |
| MFS® New Discovery Service Class | 21549 | (827756) | (806207) | 28390 | (1114848) | (1086458) |
| MFS® Total Return Service Class | 29340 | (1146723) | (1117383) | 36072 | (1532345) | (1496273) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Units (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares |  | (4) | (4) |  | (5) | (5) |
| Putnam VT International Value Class IB Shares | 25793 | (14) | 25779 |  |  |  |
| State Street Total Return V.I.S. Class 3 Shares | 397167 | (1932843) | (1535676) | 301367 | (2206088) | (1904721) |
| TA 60/40 Allocation Service Class | 1463436 | (1587772) | (124336) | 967977 | (1943855) | (975878) |
| TA Aegon Bond Initial Class | 6763485 | (9990294) | (3226809) | 7190139 | (8555136) | (1364997) |
| TA Aegon Bond Service Class | 3641005 | (25864353) | (22223348) | 3484904 | (26183667) | (22698763) |
| TA Aegon Core Bond Service Class | 2165150 | (8735294) | (6570144) | 4692372 | (8874545) | (4182173) |
| TA Aegon High Yield Bond Initial Class | 762832 | (2466425) | (1703593) | 1359352 | (2393643) | (1034291) |
| TA Aegon High Yield Bond Service Class | 1078337 | (2983005) | (1904668) | 1046938 | (3457515) | (2410577) |
| TA Aegon Sustainable Equity Income Initial Class | 528230 | (7447209) | (6918979) | 356564 | (7194074) | (6837510) |
| TA Aegon Sustainable Equity Income Service Class | 943283 | (3684125) | (2740842) | 412146 | (3480362) | (3068216) |
| TA Aegon U.S. Government Securities Initial Class | 2904096 | (5840974) | (2936878) | 7178144 | (8319719) | (1141575) |
| TA Aegon U.S. Government Securities Service Class | 10288173 | (20449366) | (10161193) | 7402100 | (22497410) | (15095310) |
| TA American Funds Managed Risk - Balanced Service Class | 443637 | (8943177) | (8499540) | 900679 | (8975753) | (8075074) |
| TA BlackRock Government Money Market Initial Class | 34864082 | (35507921) | (643839) | 24716118 | (34319043) | (9602925) |
| TA BlackRock Government Money Market Service Class | 59353025 | (84167726) | (24814701) | 61175553 | (100182803) | (39007250) |
| TA BlackRock iShares Active Asset Allocation - Conservative Service Class | 1190714 | (10098794) | (8908080) | 1708532 | (12381874) | (10673342) |
| TA BlackRock iShares Active Asset Allocation - Moderate Service Class | 1926800 | (29371442) | (27444642) | 3102521 | (30207370) | (27104849) |
| TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | 956149 | (13472648) | (12516499) | 1400171 | (14847404) | (13447233) |
| TA BlackRock iShares Dynamic Allocation - Balanced Service Class | 751517 | (16542167) | (15790650) | 1449770 | (19517578) | (18067808) |
| TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | 740130 | (8091923) | (7351793) | 881449 | (9105708) | (8224259) |
| TA BlackRock iShares Edge 100 Service Class | 366387 | (623328) | (256941) | 403316 | (462806) | (59490) |
| TA BlackRock iShares Edge 40 Initial Class | 348470 | (800107) | (451637) | 533083 | (1319597) | (786514) |
| TA BlackRock iShares Edge 40 Service Class | 425005 | (8464519) | (8039514) | 685050 | (10031036) | (9345986) |
| TA BlackRock iShares Edge 50 Service Class | 706333 | (3652439) | (2946106) | 596166 | (4096985) | (3500819) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Units (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** |
| TA BlackRock iShares Edge 75 Service Class | 435557 | (1336208) | (900651) | 593054 | (1607343) | (1014289) |
| TA BlackRock iShares Tactical - Balanced Service Class | 760818 | (11776961) | (11016143) | 463317 | (13376036) | (12912719) |
| TA BlackRock iShares Tactical - Conservative Service Class | 919194 | (5637761) | (4718567) | 917480 | (6680826) | (5763346) |
| TA BlackRock iShares Tactical - Growth Service Class | 2234998 | (7488886) | (5253888) | 1629449 | (7751474) | (6122025) |
| TA BlackRock Real Estate Securities Initial Class | 392144 | (896682) | (504538) | 324407 | (900860) | (576453) |
| TA BlackRock Real Estate Securities Service Class | 704064 | (2216227) | (1512163) | 951846 | (2802865) | (1851019) |
| TA BlackRock Tactical Allocation Service Class | 2045456 | (31016355) | (28970899) | 1730228 | (35186990) | (33456762) |
| TA Goldman Sachs 70/30 Service Class | 403783 | (112987) | 290796 | 134905 | (16026) | 118879 |
| TA Goldman Sachs Managed Risk - Balanced ETF Service Class | 2657731 | (94530923) | (91873192) | 3250203 | (111231026) | (107980823) |
| TA Goldman Sachs Managed Risk - Conservative ETF Service Class | 3822154 | (19711689) | (15889535) | 2424504 | (21569102) | (19144598) |
| TA Goldman Sachs Managed Risk - Growth ETF Service Class | 4392982 | (64278564) | (59885582) | 4491502 | (71901224) | (67409722) |
| TA Great Lakes Advisors Large Cap Value Service Class | 886954 | (1468004) | (581050) | 1290567 | (1240716) | 49851 |
| TA International Focus Initial Class | 1915865 | (3339845) | (1423980) | 1583493 | (3278357) | (1694864) |
| TA International Focus Service Class | 929883 | (2608612) | (1678729) | 642646 | (2123346) | (1480700) |
| TA Janus Balanced Service Class | 1855120 | (19570160) | (17715040) | 2856501 | (21934689) | (19078188) |
| TA Janus Mid-Cap Growth Initial Class | 1275701 | (2337009) | (1061308) | 668536 | (3550517) | (2881981) |
| TA Janus Mid-Cap Growth Service Class | 586918 | (2154868) | (1567950) | 873481 | (2222460) | (1348979) |
| TA JPMorgan Asset Allocation - Conservative Initial Class | 3528144 | (8222657) | (4694513) | 4517544 | (8988769) | (4471225) |
| TA JPMorgan Asset Allocation - Conservative Service Class | 2567205 | (29892494) | (27325289) | 4264318 | (32996464) | (28732146) |
| TA JPMorgan Asset Allocation - Moderate Initial Class | 6643326 | (15131345) | (8488019) | 7234456 | (15604564) | (8370108) |
| TA JPMorgan Asset Allocation - Moderate Service Class | 3770460 | (119698026) | (115927566) | 4329023 | (132491393) | (128162370) |
| TA JPMorgan Asset Allocation - Moderate Growth Initial Class | 2436966 | (15596569) | (13159603) | 3640639 | (18461308) | (14820669) |
| TA JPMorgan Asset Allocation - Moderate Growth Service Class | 2337411 | (86366048) | (84028637) | 2949382 | (96172583) | (93223201) |
| TA JPMorgan Diversified Equity Allocation Initial Class | 1994029 | (9128425) | (7134396) | 2366575 | (7748016) | (5381441) |
| TA JPMorgan Diversified Equity Allocation Service Class | 963625 | (6718150) | (5754525) | 1865509 | (4875951) | (3010442) |
| TA JPMorgan Enhanced Index Initial Class | 1050710 | (2339029) | (1288319) | 1987029 | (3654637) | (1667608) |
| TA JPMorgan Enhanced Index Service Class | 805263 | (1380098) | (574835) | 751404 | (1153316) | (401912) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Units (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** |
| TA JPMorgan International Moderate Growth Initial Class |  | (68935) | (68935) | 1556 | (452) | 1104 |
| TA JPMorgan International Moderate Growth Service Class | 2765913 | (22400785) | (19634872) | 2223773 | (22606966) | (20383193) |
| TA JPMorgan Tactical Allocation Service Class | 718085 | (23076072) | (22357987) | 969363 | (25405973) | (24436610) |
| TA Madison Diversified Income Service Class | 774896 | (3772355) | (2997459) | 787362 | (4957720) | (4170358) |
| TA Market Participation Strategy Service Class | 369011 | (6546059) | (6177048) | 895009 | (8766872) | (7871863) |
| TA Morgan Stanley Global Allocation Service Class | 2102748 | (34495053) | (32392305) | 1704711 | (37657436) | (35952725) |
| TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | 250060 | (2968600) | (2718540) | 203029 | (2702985) | (2499956) |
| TA MSCI EAFE Index Service Class | 1574365 | (1114524) | 459841 | 1346153 | (565217) | 780936 |
| TA Multi-Managed Balanced Initial Class | 1687476 | (3562929) | (1875453) | 881150 | (3154834) | (2273684) |
| TA Multi-Managed Balanced Service Class | 1675568 | (18963878) | (17288310) | 2004937 | (22464093) | (20459156) |
| TA PineBridge Inflation Opportunities Service Class | 1026918 | (7243931) | (6217013) | 956117 | (9514024) | (8557907) |
| TA ProFunds UltraBear Service Class (OAM) | 642583 | (50386229) | (49743646) | 1544475 | 49539299 | 51083774 |
| TA S&P 500 Index Initial Class | 996551 | (78405) | 918146 | 761075 | (24284) | 736791 |
| TA S&P 500 Index Service Class | 6458492 | (4045655) | 2412837 | 8045859 | (3117051) | 4928808 |
| TA Small/Mid Cap Value Initial Class | 115346 | (955644) | (840298) | 110852 | (1183992) | (1073140) |
| TA Small/Mid Cap Value Service Class | 738510 | (2555515) | (1817005) | 826663 | (2702208) | (1875545) |
| TA T. Rowe Price Small Cap Initial Class | 555692 | (2782392) | (2226700) | 640093 | (3534797) | (2894704) |
| TA T. Rowe Price Small Cap Service Class | 1202954 | (3465969) | (2263015) | 1564049 | (3533538) | (1969489) |
| TA TSW International Equity Initial Class | 1547432 | (3917968) | (2370536) | 1690104 | (3992012) | (2301908) |
| TA TSW International Equity Service Class | 1329970 | (1598927) | (268957) | 696138 | (1393486) | (697348) |
| TA TSW Mid Cap Value Opportunities Service Class | 591461 | (3309561) | (2718100) | 751915 | (4004859) | (3252944) |
| TA WMC US Growth Initial Class | 1940921 | (17884210) | (15943289) | 2676403 | (19108696) | (16432293) |
| TA WMC US Growth Service Class | 1519577 | (6566758) | (5047181) | 1920358 | (6560279) | (4639921) |
| Vanguard® Balanced | 1206533 | (193829) | 1012704 | 722534 | (331547) | 390987 |
| Vanguard® Capital Growth | 114635 | (64623) | 50012 | 56029 | (41755) | 14274 |
| Vanguard® Conservative Allocation | 1087655 | (138806) | 948849 | 285403 | (50267) | 235136 |
| Vanguard® Diversified Value | 37605 | (21179) | 16426 | 31258 | (32472) | (1214) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Units (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** | **Units Purchased** | **Units Redeemed and Transferred to/from** | **Net Increase (Decrease)** |
| Vanguard® Equity Income | 115539 | (109577) | 5962 | 123695 | (50132) | 73563 |
| Vanguard® Equity Index | 42067 | (105266) | (63199) | 45688 | (127202) | (81514) |
| Vanguard® Global Bond Index | 42690 | (2542) | 40148 | 16127 | (4860) | 11267 |
| Vanguard® Growth | 65111 | (110362) | (45251) | 485479 | (45191) | 440288 |
| Vanguard® High Yield Bond | 51243 | (48314) | 2929 | 146174 | (27957) | 118217 |
| Vanguard® International | 91886 | (97206) | (5320) | 70101 | (113124) | (43023) |
| Vanguard® Mid-Cap Index | 484975 | (142951) | 342024 | 525471 | (108996) | 416475 |
| Vanguard® Moderate Allocation | 717967 | (420444) | 297523 | 544187 | (354962) | 189225 |
| Vanguard® Money Market | 569811 | (414179) | 155632 | 547760 | (403775) | 143985 |
| Vanguard® Real Estate Index | 83311 | (52873) | 30438 | 407955 | (55579) | 352376 |
| Vanguard® Short-Term Investment Grade | 460616 | (187521) | 273095 | 282791 | (194620) | 88171 |
| Vanguard® Total Bond Market Index | 494101 | (235154) | 258947 | 680370 | (322474) | 357896 |
| Vanguard® Total International Stock Market Index | 115035 | (62842) | 52193 | 212499 | (106095) | 106404 |
| Vanguard® Total Stock Market Index | 189489 | (83797) | 105692 | 301935 | (199535) | 102400 |
| Voya Global Perspectives Class S Shares |  | (4) | (4) | 79 | (1220) | (1141) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Unit Dollars (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** |
| AB Balanced Hedged Allocation Class B Shares | $5060424 | $(15524559) | $(10464135) | $2850329 | $(12699939) | $(9849610) |
| AB Large Cap Growth Class B Shares | 462183 | (3986611) | (3524428) | 70461 | (3797510) | (3727049) |
| AB Relative Value Class B Shares | 13532674 | (40494755) | (26962081) | 13568058 | (41283433) | (27715375) |
| American Funds - Asset Allocation Class 2 Shares | 23210115 | (119742922) | (96532807) | 12243215 | (114363717) | (102120502) |
| American Funds - Asset Allocation Class 4 Shares | 17091120 | (3965446) | 13125674 | 14443582 | (3636790) | 10806792 |
| American Funds - Growth Class 2 Shares | 31729792 | (185918970) | (154189178) | 21808276 | (167180057) | (145371781) |
| American Funds - Growth Class 4 Shares | 177352534 | (25672229) | 151680305 | 134205414 | (14321411) | 119884003 |
| American Funds - Growth-Income Class 2 Shares | 19577022 | (126194572) | (106617550) | 21278602 | (125531635) | (104253033) |
| American Funds - Growth-Income Class 4 Shares | 60356610 | (15605564) | 44751046 | 62228229 | (6973295) | 55254934 |
| American Funds - International Class 2 Shares | 9548312 | (32707590) | (23159278) | 10408033 | (33911335) | (23503302) |
| American Funds - International Class 4 Shares | 15881680 | (4078166) | 11803514 | 12364584 | (2399876) | 9964708 |
| American Funds - New World Class 4 Shares | 9728313 | (3192487) | 6535826 | 6850684 | (1007653) | 5843031 |
| American Funds - The Bond Fund of America Class 2 Shares | 18670733 | (35113213) | (16442480) | 20914055 | (30361600) | (9447545) |
| American Funds - The Bond Fund of America Class 4 Shares | 13442129 | (7613804) | 5828325 | 17395789 | (5869120) | 11526669 |
| BlackRock Basic Value V.I. Class I Shares | 570991 | (2702311) | (2131320) | 634659 | (2246204) | (1611545) |
| BlackRock Global Allocation V.I. Class I Shares | 450090 | (1329900) | (879810) | 154222 | (941395) | (787173) |
| BlackRock High Yield V.I. Class I Shares | 271072 | (545426) | (274354) | 198748 | (412463) | (213715) |
| Columbia - Acorn |  |  |  |  |  |  |
| Columbia - Acorn International | 156692 | (13564) | 143128 | 94 | (12629) | (12535) |
| Dimensional VA Equity Allocation | 792129 | (40173) | 751956 | 188953 | (56317) | 132636 |
| Dimensional VA Global Bond | 2616664 | (822484) | 1794180 | 987122 | (781169) | 205953 |
| Dimensional VA Global Moderate Allocation | 2366244 | (759956) | 1606288 | 674180 | (36918) | 637262 |
| Dimensional VA International Small | 287685 | (117942) | 169743 | 124053 | (22535) | 101518 |
| Dimensional VA International Value | 328374 | (191970) | 136404 | 572220 | (93929) | 478291 |
| Dimensional VA Short-Term Fixed | 1119660 | (831394) | 288266 | 1733321 | (688549) | 1044772 |
| Dimensional VA U.S. Large Value | 742781 | (448194) | 294587 | 1067190 | (216626) | 850564 |
| Dimensional VA U.S. Targeted Value | 685028 | (152457) | 532571 | 456872 | (130687) | 326185 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Unit Dollars (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** |
| Fidelity® VIP Balanced Service Class 2 | 20037565 | (85022652) | (64985087) | 29908480 | (80069302) | (50160822) |
| Fidelity® VIP Consumer Staples Initial Class | $3584432 | $(1581186) | $2003246 | $2564561 | $(1565043) | $999518 |
| Fidelity® VIP Contrafund® Initial Class | 94 | (2873) | (2779) | 94 | (16409) | (16315) |
| Fidelity® VIP Contrafund® Service Class 2 | 92459990 | (169181529) | (76721539) | 85715803 | (157271976) | (71556173) |
| Fidelity® VIP Energy Service Class 2 | 7921446 | (8019117) | (97671) | 10902372 | (6424260) | 4478112 |
| Fidelity® VIP Equity-Income Initial Class |  | (2574) | (2574) |  | (2294) | (2294) |
| Fidelity® VIP Equity-Income Service Class 2 | 659289 | (4704289) | (4045000) | 29583 | (3794902) | (3765319) |
| Fidelity® VIP Growth Initial Class |  | (2393) | (2393) |  | (2032) | (2032) |
| Fidelity® VIP Growth Service Class 2 | 420379 | (6946146) | (6525767) | 1649277 | (4566295) | (2917018) |
| Fidelity® VIP Growth Opportunities Service Class 2 | 24752 | (251815) | (227063) | 32727 | (558749) | (526022) |
| Fidelity® VIP Health Care Service Class 2 | 6764102 | (3616428) | 3147674 | 7451806 | (2548739) | 4903067 |
| Fidelity® VIP Mid Cap Initial Class | 9662 | (37214) | (27552) | 6299 | (3308) | 2991 |
| Fidelity® VIP Mid Cap Service Class 2 | 30295722 | (53844443) | (23548721) | 34203827 | (51421772) | (17217945) |
| Fidelity® VIP Technology Initial Class | 58300084 | (22159073) | 36141011 | 50598952 | (12740607) | 37858345 |
| Fidelity® VIP Utilities Initial Class | 7479798 | (2128331) | 5351467 | 4838280 | (2196697) | 2641583 |
| Fidelity® VIP Value Strategies Initial Class | 120 | (88762) | (88642) | 892 | (113291) | (112399) |
| Fidelity® VIP Value Strategies Service Class 2 | 19158880 | (39651014) | (20492134) | 21282762 | (40219706) | (18936944) |
| Franklin Allocation Class 4 Shares | 54848 | (7723327) | (7668479) | 56975 | (7737332) | (7680357) |
| Franklin Income Class 2 Shares | 326922 | (5044529) | (4717607) | 53757 | (4944495) | (4890738) |
| Franklin Mutual Shares Class 2 Shares | 2296 | (1113794) | (1111498) | 31713 | (1307946) | (1276233) |
| Franklin Templeton Foreign Class 2 Shares | 44407 | (1611578) | (1567171) | 51734 | (1802425) | (1750691) |
| Invesco V.I. American Franchise Series II Shares | 9175 | (673964) | (664789) | 3680 | (599868) | (596188) |
| Janus Henderson - Enterprise Service Shares | 50566 | (2421134) | (2370568) | 77797 | (3777506) | (3699709) |
| Janus Henderson - Global Research Service Shares | 143217 | (3416105) | (3272888) | 610064 | (2932256) | (2322192) |
| Janus Henderson - Mid Cap Value Service Shares | 3997 | (181185) | (177188) | 2197 | (85503) | (83306) |
| MFS® New Discovery Service Class | 80587 | (3427189) | (3346602) | 115624 | (4486559) | (4370935) |
| MFS® Total Return Service Class | 77981 | (3064111) | (2986130) | 90470 | (3929386) | (3838916) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Unit Dollars (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares |  | (54) | (54) |  | (54) | (54) |
| Putnam VT International Value Class IB Shares | 267463 | (147) | 267316 |  |  |  |
| State Street Total Return V.I.S. Class 3 Shares | $5542875 | $(8293180) | $(2750305) | $2345132 | $(6591985) | $(4246853) |
| TA 60/40 Allocation Service Class | 7089333 | (12806647) | (5717314) | 6432389 | (12852317) | (6419928) |
| TA Aegon Bond Initial Class | 10042793 | (15447520) | (5404727) | 10552502 | (12621011) | (2068509) |
| TA Aegon Bond Service Class | 14622296 | (68663849) | (54041553) | 16215859 | (68034503) | (51818644) |
| TA Aegon Core Bond Service Class | 16375366 | (39534131) | (23158765) | 20996048 | (35742224) | (14746176) |
| TA Aegon High Yield Bond Initial Class | 2126699 | (6812196) | (4685497) | 3704722 | (6129364) | (2424642) |
| TA Aegon High Yield Bond Service Class | 10074786 | (18337656) | (8262870) | 8073697 | (19151470) | (11077773) |
| TA Aegon Sustainable Equity Income Initial Class | 1694305 | (24985593) | (23291288) | 1530300 | (22015599) | (20485299) |
| TA Aegon Sustainable Equity Income Service Class | 8565879 | (19492611) | (10926732) | 4362307 | (17784299) | (13421992) |
| TA Aegon U.S. Government Securities Initial Class | 3847453 | (8380949) | (4533496) | 9547096 | (11564939) | (2017843) |
| TA Aegon U.S. Government Securities Service Class | 50325384 | (90349404) | (40024020) | 34494402 | (95994842) | (61500440) |
| TA American Funds Managed Risk - Balanced Service Class | 6923642 | (140261822) | (133338180) | 12824939 | (129827109) | (117002170) |
| TA BlackRock Government Money Market Initial Class | 35826783 | (39397506) | (3570723) | 24831282 | (37421262) | (12589980) |
| TA BlackRock Government Money Market Service Class | 275070618 | (360166180) | (85095562) | 241549412 | (356371396) | (114821984) |
| TA BlackRock iShares Active Asset Allocation - Conservative Service Class | 3677912 | (31832222) | (28154310) | 5943450 | (36809386) | (30865936) |
| TA BlackRock iShares Active Asset Allocation - Moderate Service Class | 8547090 | (138109598) | (129562508) | 17702685 | (130390384) | (112687699) |
| TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | 5495348 | (51301912) | (45806564) | 10138289 | (56019476) | (45881187) |
| TA BlackRock iShares Dynamic Allocation - Balanced Service Class | 5584560 | (104621083) | (99036523) | 9237411 | (108261277) | (99023866) |
| TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | 3902754 | (53008109) | (49105355) | 5193821 | (53770487) | (48576666) |
| TA BlackRock iShares Edge 100 Service Class | 8290009 | (13796594) | (5506585) | 7826983 | (8922721) | (1095738) |
| TA BlackRock iShares Edge 40 Initial Class | 681149 | (1598579) | (917430) | 1050617 | (2608748) | (1558131) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Unit Dollars (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** |
| TA BlackRock iShares Edge 40 Service Class | 3825052 | (28446900) | (24621848) | 2775849 | (31084398) | (28308549) |
| TA BlackRock iShares Edge 50 Service Class | 10484501 | (54795223) | (44310722) | 8265107 | (57132771) | (48867664) |
| TA BlackRock iShares Edge 75 Service Class | 7792300 | (23707846) | (15915546) | 9809519 | (26062475) | (16252956) |
| TA BlackRock iShares Tactical - Balanced Service Class | 3385597 | (53344058) | (49958461) | 1854422 | (56835666) | (54981244) |
| TA BlackRock iShares Tactical - Conservative Service Class | $2260972 | $(26537807) | $(24276835) | $2858304 | $(29358436) | $(26500132) |
| TA BlackRock iShares Tactical - Growth Service Class | 8376911 | (43649686) | (35272775) | 8648368 | (43908056) | (35259688) |
| TA BlackRock Real Estate Securities Initial Class | 1140912 | (2582502) | (1441590) | 976074 | (2423013) | (1446939) |
| TA BlackRock Real Estate Securities Service Class | 5016948 | (9699423) | (4682475) | 5742193 | (11047494) | (5305301) |
| TA BlackRock Tactical Allocation Service Class | 6842820 | (144918426) | (138075606) | 5958758 | (158632019) | (152673261) |
| TA Goldman Sachs 70/30 Service Class | 6107665 | (1771385) | 4336280 | 1915379 | (227149) | 1688230 |
| TA Goldman Sachs Managed Risk - Balanced ETF Service Class | 12129379 | (571734057) | (559604678) | 18566926 | (612856977) | (594290051) |
| TA Goldman Sachs Managed Risk - Conservative ETF Service Class | 10364363 | (67274431) | (56910068) | 7204618 | (73893905) | (66689287) |
| TA Goldman Sachs Managed Risk - Growth ETF Service Class | 21237395 | (303652149) | (282414754) | 21614503 | (321233567) | (299619064) |
| TA Great Lakes Advisors Large Cap Value Service Class | 12164945 | (13729270) | (1564325) | 11678529 | (10241209) | 1437320 |
| TA International Focus Initial Class | 3899079 | (7041726) | (3142647) | 3247999 | (6889706) | (3641707) |
| TA International Focus Service Class | 8217390 | (16653782) | (8436392) | 6526976 | (11597919) | (5070943) |
| TA Janus Balanced Service Class | 16423277 | (164644855) | (148221578) | 28097875 | (169483964) | (141386089) |
| TA Janus Mid-Cap Growth Initial Class | 4377198 | (7736739) | (3359541) | 2156947 | (11427496) | (9270549) |
| TA Janus Mid-Cap Growth Service Class | 13364419 | (25025619) | (11661200) | 17078111 | (27127745) | (10049634) |
| TA JPMorgan Asset Allocation - Conservative Initial Class | 7000234 | (16563968) | (9563734) | 8803661 | (17417448) | (8613787) |
| TA JPMorgan Asset Allocation - Conservative Service Class | 11737280 | (100026755) | (88289475) | 10274685 | (102461824) | (92187139) |
| TA JPMorgan Asset Allocation - Moderate Initial Class | 15345296 | (36150961) | (20805665) | 15779230 | (35609876) | (19830646) |
| TA JPMorgan Asset Allocation - Moderate Service Class | 17193681 | (624134090) | (606940409) | 26215242 | (606109537) | (579894295) |
| TA JPMorgan Asset Allocation - Moderate Growth Initial Class | 6928963 | (45019052) | (38090089) | 9573987 | (50243825) | (40669838) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Unit Dollars (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** |
| TA JPMorgan Asset Allocation - Moderate Growth Service Class | 12151953 | (381871112) | (369719159) | 18757808 | (398584144) | (379826336) |
| TA JPMorgan Diversified Equity Allocation Initial Class | 7152675 | (34427218) | (27274543) | 8146427 | (26257936) | (18111509) |
| TA JPMorgan Diversified Equity Allocation Service Class | 11408804 | (41565770) | (30156966) | 15915498 | (33196069) | (17280571) |
| TA JPMorgan Enhanced Index Initial Class | 6120783 | (13968732) | (7847949) | 9200633 | (20411491) | (11210858) |
| TA JPMorgan Enhanced Index Service Class | 27049612 | (35399616) | (8350004) | 23983174 | (22696416) | 1286758 |
| TA JPMorgan International Moderate Growth Initial Class | $- | $(119379) | $(119379) | $2583 | $(770) | $1813 |
| TA JPMorgan International Moderate Growth Service Class | 8431689 | (58457219) | (50025530) | 5734934 | (56660716) | (50925782) |
| TA JPMorgan Tactical Allocation Service Class | 3949557 | (123575495) | (119625938) | 5040627 | (129354528) | (124313901) |
| TA Madison Diversified Income Service Class | 6689667 | (19102868) | (12413201) | 4615504 | (22820643) | (18205139) |
| TA Market Participation Strategy Service Class | 3064327 | (50883155) | (47818828) | 5893998 | (61768499) | (55874501) |
| TA Morgan Stanley Global Allocation Service Class | 9490513 | (135575582) | (126085069) | 7532493 | (133957958) | (126425465) |
| TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | 3002482 | (34748535) | (31746053) | 2215484 | (29500991) | (27285507) |
| TA MSCI EAFE Index Service Class | 23842337 | (16431612) | 7410725 | 18045572 | (7559106) | 10486466 |
| TA Multi-Managed Balanced Initial Class | 6824639 | (14789551) | (7964912) | 3207077 | (12201945) | (8994868) |
| TA Multi-Managed Balanced Service Class | 16041153 | (203281350) | (187240197) | 20357874 | (241070939) | (220713065) |
| TA PineBridge Inflation Opportunities Service Class | 3387202 | (18813736) | (15426534) | 3497890 | (26171468) | (22673578) |
| TA ProFunds UltraBear Service Class (OAM) | 5211347 | (3179734) | 2031613 | 15364044 | (4056420) | 11307624 |
| TA S&P 500 Index Initial Class | 4871398 | (1124715) | 3746683 | 10608839 | (323521) | 10285318 |
| TA S&P 500 Index Service Class | 165941389 | (105195828) | 60745561 | 184026345 | (69952159) | 114074186 |
| TA Small/Mid Cap Value Initial Class | 660876 | (8316074) | (7655198) | 1078688 | (11239231) | (10160543) |
| TA Small/Mid Cap Value Service Class | 14840102 | (28105696) | (13265594) | 16501029 | (25314195) | (8813166) |
| TA T. Rowe Price Small Cap Initial Class | 2621137 | (12756476) | (10135339) | 3005966 | (15938882) | (12932916) |
| TA T. Rowe Price Small Cap Service Class | 30039099 | (50387854) | (20348755) | 36718130 | (53632569) | (16914439) |
| TA TSW International Equity Initial Class | 3944427 | (10586655) | (6642228) | 3627371 | (9372590) | (5745219) |
| TA TSW International Equity Service Class | 12922647 | (13418669) | (496022) | 7123421 | (10322951) | (3199530) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** | **Transamerica Life Insurance Company** |
| **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** | **Separate Account VA B** |
| **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4. Change in Unit Dollars (continued)** |  |  |  |  |  |  |
|  | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2025** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** | **Year Ended December 31, 2024** |
| **Subaccount** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** | **Units Purchased in Dollars** | **Units Redeemed and Transferred to/from in Dollars** | **Dollar Net Increase (Decrease)** |
| TA TSW Mid Cap Value Opportunities Service Class | 8422501 | (30454552) | (22032051) | 9694293 | (33855629) | (24161336) |
| TA WMC US Growth Initial Class | 11109566 | (98247488) | (87137922) | 13154486 | (90760685) | (77606199) |
| TA WMC US Growth Service Class | 57535108 | (148508928) | (90973820) | 59701630 | (130193511) | (70491881) |
| Vanguard® Balanced | 18037290 | (2852210) | 15185080 | 9561587 | (4340502) | 5221085 |
| Vanguard® Capital Growth | 2050655 | (1275507) | 775148 | 954704 | (707263) | 247441 |
| Vanguard® Conservative Allocation | 12579922 | (1681110) | 10898812 | 3195593 | (562171) | 2633422 |
| Vanguard® Diversified Value | 703089 | (388221) | 314868 | 530788 | (562790) | (32002) |
| Vanguard® Equity Income | $2022322 | $(1921360) | $100962 | $1924506 | $(723007) | $1201499 |
| Vanguard® Equity Index | 1952333 | (1958539) | (6206) | 1765502 | (3182424) | (1416922) |
| Vanguard® Global Bond Index | 424646 | (25541) | 399105 | 154912 | (47301) | 107611 |
| Vanguard® Growth | 1451951 | (2407926) | (955975) | 9768568 | (845452) | 8923116 |
| Vanguard® High Yield Bond | 617890 | (599205) | 18685 | 1663393 | (319848) | 1343545 |
| Vanguard® International | 2434412 | (1828150) | 606262 | 1562026 | (1399240) | 162786 |
| Vanguard® Mid-Cap Index | 14645775 | (4228173) | 10417602 | 14511848 | (2881483) | 11630365 |
| Vanguard® Moderate Allocation | 9589048 | (5674533) | 3914515 | 6468230 | (4380180) | 2088050 |
| Vanguard® Money Market | 6499355 | (4695568) | 1803787 | 5915771 | (4398938) | 1516833 |
| Vanguard® Real Estate Index | 1276987 | (822678) | 454309 | 7728711 | (880346) | 6848365 |
| Vanguard® Short-Term Investment Grade | 4721891 | (1849531) | 2872360 | 3292050 | (1627957) | 1664093 |
| Vanguard® Total Bond Market Index | 5537944 | (2268054) | 3269890 | 7390719 | (3510050) | 3880669 |
| Vanguard® Total International Stock Market Index | 1610962 | (861995) | 748967 | 2600170 | (1309321) | 1290849 |
| Vanguard® Total Stock Market Index | 3694068 | (1701813) | 1992255 | 5027727 | (3511813) | 1515914 |
| Voya Global Perspectives Class S Shares |  | (52) | (52) | 990 | (16256) | (15266) |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
| | |  | |  | | | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
| | |  | |  | | | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
| | |  | |  | | | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| <br>**Subaccount** | <br>**Units** | | **Unit Fair Value**<br>**Corresponding to**<br>**Lowest to Highest**<br>**Expense Ratio** | | <br>**Net**<br>**Assets** | <br>**Investment**<br>**Income**<br>**Ratio\*** | **Highest** | **Highest** | **Highest** | | **Expense Ratio** | |
| AB Balanced Hedged Allocation Class B Shares | AB Balanced Hedged Allocation Class B Shares | AB Balanced Hedged Allocation Class B Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 12593517 | $21.30 | to | $14.25 | $61004277 | 1.88% | 0.40% | to | 2.85% | 16.89% | to | 14.11% |
| 12/31/2024 | 15105269 | 18.22 | to | 12.49 | 62547297 | 1.75 | 0.40 | to | 2.85 | 8.14 | to | 5.55 |
| 12/31/2023 | 18016973 | 16.85 | to | 11.83 | 67924719 | 0.91 | 0.40 | to | 2.85 | 12.21 | to | 9.55 |
| 12/31/2022 | 20382589 | 15.02 | to | 10.80 | 68221047 | 3.03 | 0.40 | to | 2.85 | (19.49) | to | (21.41) |
| 12/31/2021 | 23075361 | 18.65 | to | 13.74 | 97949715 | 0.26 | 0.40 | to | 2.85 | 12.91 | to | 10.22 |
| AB Large Cap Growth Class B Shares | AB Large Cap Growth Class B Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 4666023 | 8.82 | to | 32.76 | 27145678 |  | 0.30 | to | 2.80 | 12.51 | to | 9.78 |
| 12/31/2024 | 5301493 | 7.84 | to | 29.84 | 27818295 |  | 0.30 | to | 2.80 | 24.58 | to | 21.53 |
| 12/31/2023 | 6062153 | 6.29 | to | 24.55 | 25855468 |  | 0.30 | to | 2.80 | 34.38 | to | 31.13 |
| 12/31/2022 | 6694830 | 4.68 | to | 18.72 | 21598227 |  | 0.30 | to | 2.80 | (28.90) | to | (30.63) |
| 12/31/2021 | 7676319 | 6.59 | to | 26.99 | 35215505 |  | 0.30 | to | 2.80 | 28.27 | to | 25.15 |
| AB Relative Value Class B Shares | AB Relative Value Class B Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 36564982 | 4.71 | to | 18.51 | 245995414 | 0.89 | 0.30 | to | 2.80 | 9.87 | to | 7.20 |
| 12/31/2024 | 41060539 | 4.28 | to | 17.27 | 252530414 | 1.25 | 0.30 | to | 2.80 | 12.43 | to | 9.68 |
| 12/31/2023 | 45826690 | 3.81 | to | 15.75 | 252527102 | 1.27 | 0.30 | to | 2.80 | 11.39 | to | 8.69 |
| 12/31/2022 | 52215761 | 3.42 | to | 14.49 | 253718317 | 1.10 | 0.30 | to | 2.80 | (4.70) | to | (7.02) |
| 12/31/2021 | 53868536 | 3.59 | to | 15.58 | 277963317 | 0.65 | 0.30 | to | 2.80 | 27.45 | to | 24.36 |
| American Funds - Asset Allocation Class 2 Shares | American Funds - Asset Allocation Class 2 Shares | American Funds - Asset Allocation Class 2 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 83794050 | 28.33 | to | 17.76 | 629020237 | 1.95 | 0.60 | to | 2.95 | 15.16 | to | 12.53 |
| 12/31/2024 | 99785247 | 24.60 | to | 15.78 | 643112279 | 2.09 | 0.60 | to | 2.95 | 15.74 | to | 13.08 |
| 12/31/2023 | 117496772 | 21.25 | to | 13.95 | 655500152 | 2.17 | 0.60 | to | 2.95 | 13.59 | to | 11.00 |
| 12/31/2022 | 133628079 | 18.71 | to | 12.57 | 658825848 | 1.84 | 0.60 | to | 2.95 | (13.92) | to | (15.88) |
| 12/31/2021 | 152575336 | 21.74 | to | 14.94 | 871352808 | 1.50 | 0.60 | to | 2.95 | 14.41 | to | 11.80 |
| American Funds - Asset Allocation Class 4 Shares | American Funds - Asset Allocation Class 4 Shares | American Funds - Asset Allocation Class 4 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 5647346 | 17.72 | to | 16.00 | 94492973 | 1.97 | 0.40 | to | 2.20 | 15.13 | to | 13.08 |
| 12/31/2024 | 4815607 | 15.39 | to | 14.15 | 70676441 | 2.12 | 0.40 | to | 2.20 | 15.64 | to | 13.57 |
| 12/31/2023 | 4038684 | 13.31 | to | 12.46 | 51793639 | 2.37 | 0.40 | to | 2.20 | 13.57 | to | 11.55 |
| 12/31/2022 | 2607001 | 11.72 | to | 11.17 | 29772601 | 1.92 | 0.40 | to | 2.20 | (14.01) | to | (15.54) |
| 12/31/2020<sup>(1)</sup> | 1727718 | 13.63 | to | 13.23 | 23155040 | 2.13 | 0.40 | to | 2.20 | 14.38 | to | 12.34 |
| American Funds - Growth Class 2 Shares | American Funds - Growth Class 2 Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 29598105 | 66.70 | to | 36.19 | 1023333178 | 0.16 | 0.60 | to | 2.95 | 19.51 | to | 16.79 |
| 12/31/2024 | 34291225 | 55.81 | to | 30.99 | 1008499520 | 0.33 | 0.60 | to | 2.95 | 30.83 | to | 27.84 |
| 12/31/2023 | 40066362 | 42.66 | to | 24.24 | 905289115 | 0.36 | 0.60 | to | 2.95 | 37.66 | to | 34.53 |
| 12/31/2022 | 44785334 | 30.99 | to | 18.02 | 739271958 | 0.32 | 0.60 | to | 2.95 | (30.36) | to | (31.94) |
| 12/31/2021 | 49147881 | 44.50 | to | 26.48 | 1149580633 | 0.22 | 0.60 | to | 2.95 | 21.26 | to | 18.50 |
| American Funds - Growth Class 4 Shares | American Funds - Growth Class 4 Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 22659871 | 27.51 | to | 24.84 | 588155888 | 0.12 | 0.33 | to | 2.13 | 19.53 | to | 17.40 |
| 12/31/2024 | 16292571 | 23.02 | to | 21.16 | 357360893 | 0.17 | 0.33 | to | 2.13 | 30.86 | to | 28.52 |
| 12/31/2023 | 10231206 | 17.59 | to | 16.47 | 173243164 | 0.18 | 0.33 | to | 2.13 | 37.68 | to | 35.24 |
| 12/31/2022 | 6068608 | 12.77 | to | 12.18 | 75410935 | 0.11 | 0.33 | to | 2.13 | (30.34) | to | (31.59) |
| 12/31/2021 | 3929006 | 18.34 | to | 17.80 | 70825649 | 0.06 | 0.33 | to | 2.13 | 21.28 | to | 19.12 |
| American Funds - Growth-Income Class 2 Shares | American Funds - Growth-Income Class 2 Shares | American Funds - Growth-Income Class 2 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 25919298 | 45.92 | to | 25.13 | 639108799 | 0.89 | 0.60 | to | 2.95 | 17.36 | to | 14.68 |
| 12/31/2024 | 31429642 | 39.13 | to | 21.91 | 649827838 | 1.07 | 0.60 | to | 2.95 | 23.48 | to | 20.65 |
| 12/31/2023 | 37114846 | 31.69 | to | 18.16 | 623307981 | 1.35 | 0.60 | to | 2.95 | 25.39 | to | 22.54 |
| 12/31/2022 | 42147647 | 25.27 | to | 14.82 | 565155508 | 1.26 | 0.60 | to | 2.95 | (16.99) | to | (18.88) |
| 12/31/2021 | 46521780 | 30.45 | to | 18.27 | 754565140 | 1.11 | 0.60 | to | 2.95 | 23.35 | to | 20.54 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| American Funds - Growth-Income Class 4 Shares | American Funds - Growth-Income Class 4 Shares | American Funds - Growth-Income Class 4 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 10995381 | $23.37 | to | $21.11 | $242695312 | 0.80% | 0.33% | to | 2.13% | 17.38% | to | 15.29% |
| 12/31/2024 | 8789306 | 19.91 | to | 18.31 | 166980958 | 1.08 | 0.33 | to | 2.13 | 23.51 | to | 21.29 |
| 12/31/2023 | 5697599 | 16.12 | to | 15.09 | 88521439 | 1.37 | 0.33 | to | 2.13 | 25.41 | to | 23.18 |
| 12/31/2022 | 3580600 | 12.86 | to | 12.25 | 44815167 | 1.23 | 0.33 | to | 2.13 | (16.98) | to | (18.46) |
| 12/31/2021 | 2239175 | 15.48 | to | 15.03 | 34083630 | 1.32 | 0.33 | to | 2.13 | 23.39 | to | 21.19 |
| American Funds - International Class 2 Shares | American Funds - International Class 2 Shares | American Funds - International Class 2 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 23782487 | 19.18 | to | 14.62 | 202752548 | 1.31 | 0.60 | to | 2.95 | 26.01 | to | 23.14 |
| 12/31/2024 | 27490771 | 15.22 | to | 11.88 | 183247362 | 1.15 | 0.60 | to | 2.95 | 2.54 | to | 0.19 |
| 12/31/2023 | 30930665 | 14.85 | to | 11.85 | 202507533 | 1.29 | 0.60 | to | 2.95 | 15.15 | to | 12.53 |
| 12/31/2022 | 33890694 | 12.89 | to | 10.53 | 190941815 | 1.71 | 0.60 | to | 2.95 | (21.26) | to | (23.05) |
| 12/31/2021 | 37028497 | 16.37 | to | 13.69 | 262247784 | 2.38 | 0.60 | to | 2.95 | (2.09) | to | (4.32) |
| American Funds - International Class 4 Shares | American Funds - International Class 4 Shares | American Funds - International Class 4 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 3708223 | 16.09 | to | 14.53 | 56329372 | 1.35 | 0.33 | to | 2.13 | 25.99 | to | 23.74 |
| 12/31/2024 | 2838212 | 12.77 | to | 11.74 | 34575346 | 1.12 | 0.33 | to | 2.13 | 2.59 | to | 0.75 |
| 12/31/2023 | 2056088 | 12.45 | to | 11.65 | 24678048 | 1.22 | 0.33 | to | 2.13 | 15.18 | to | 13.13 |
| 12/31/2022 | 1534693 | 10.81 | to | 10.30 | 16159481 | 1.66 | 0.33 | to | 2.13 | (21.28) | to | (22.68) |
| 12/31/2021 | 1178588 | 13.73 | to | 13.32 | 15918386 | 3.82 | 0.33 | to | 2.13 | (2.04) | to | (3.78) |
| American Funds - New World Class 4 Shares | American Funds - New World Class 4 Shares | American Funds - New World Class 4 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 1855255 | 18.10 | to | 16.34 | 31711583 | 1.06 | 0.35 | to | 2.15 | 27.48 | to | 25.21 |
| 12/31/2024 | 1444346 | 14.20 | to | 13.05 | 19567603 | 1.30 | 0.35 | to | 2.15 | 5.96 | to | 4.06 |
| 12/31/2023 | 1016305 | 13.40 | to | 12.54 | 13127105 | 1.44 | 0.35 | to | 2.15 | 15.27 | to | 13.22 |
| 12/31/2022 | 648308 | 11.63 | to | 11.08 | 7346732 | 1.15 | 0.35 | to | 2.15 | (22.52) | to | (23.90) |
| 12/31/2021 | 511234 | 15.00 | to | 14.56 | 7543125 | 0.98 | 0.35 | to | 2.15 | 4.26 | to | 2.40 |
| American Funds - The Bond Fund of America Class 2 Shares | American Funds - The Bond Fund of America Class 2 Shares | American Funds - The Bond Fund of America Class 2 Shares | American Funds - The Bond Fund of America Class 2 Shares | American Funds - The Bond Fund of America Class 2 Shares |  |  |  |  |  |  |  |  |
| 12/31/2025 | 43745813 | 11.90 | to | 9.49 | 189408982 | 4.18 | 0.60 | to | 2.95 | 6.62 | to | 4.19 |
| 12/31/2024 | 49004751 | 11.16 | to | 9.11 | 195360352 | 4.07 | 0.60 | to | 2.95 | 0.55 | to | (1.76) |
| 12/31/2023 | 52481229 | 11.10 | to | 9.27 | 205754769 | 3.44 | 0.60 | to | 2.95 | 4.39 | to | 2.02 |
| 12/31/2022 | 54788400 | 10.64 | to | 9.09 | 205927941 | 2.83 | 0.60 | to | 2.95 | (13.10) | to | (15.08) |
| 12/31/2021 | 62790605 | 12.24 | to | 10.70 | 267700388 | 1.38 | 0.60 | to | 2.95 | (0.90) | to | (3.16) |
| American Funds - The Bond Fund of America Class 4 Shares | American Funds - The Bond Fund of America Class 4 Shares | American Funds - The Bond Fund of America Class 4 Shares | American Funds - The Bond Fund of America Class 4 Shares | American Funds - The Bond Fund of America Class 4 Shares |  |  |  |  |  |  |  |  |
| 12/31/2025 | 4504835 | 10.11 | to | 9.13 | 42979111 | 4.27 | 0.31 | to | 2.11 | 6.65 | to | 4.75 |
| 12/31/2024 | 3877079 | 9.48 | to | 8.72 | 35067290 | 4.43 | 0.31 | to | 2.11 | 0.66 | to | (1.14) |
| 12/31/2023 | 2584125 | 9.42 | to | 8.82 | 23472254 | 3.86 | 0.31 | to | 2.11 | 4.40 | to | 2.54 |
| 12/31/2022 | 1480104 | 9.02 | to | 8.60 | 12995937 | 2.87 | 0.31 | to | 2.11 | (13.02) | to | (14.57) |
| 12/31/2021 | 1220373 | 10.37 | to | 10.07 | 12442489 | 1.60 | 0.31 | to | 2.11 | (0.89) | to | (2.66) |
| BlackRock Basic Value V.I. Class I Shares | BlackRock Basic Value V.I. Class I Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 3529431 | 4.68 | to | 18.41 | 19659776 | 2.07 | 1.25 | to | 2.65 | 22.85 | to | 21.18 |
| 12/31/2024 | 3935129 | 3.81 | to | 15.19 | 18032903 | 2.01 | 1.25 | to | 2.65 | 9.00 | to | 7.51 |
| 12/31/2023 | 4274831 | 3.49 | to | 14.13 | 18096054 | 1.77 | 1.25 | to | 2.65 | 15.17 | to | 13.61 |
| 12/31/2022 | 4611591 | 3.03 | to | 12.44 | 16931268 | 1.42 | 1.25 | to | 2.65 | (6.09) | to | (7.37) |
| 12/31/2021 | 5019930 | 3.23 | to | 13.43 | 19580580 | 1.17 | 1.25 | to | 2.65 | 20.17 | to | 18.54 |
| BlackRock Global Allocation V.I. Class I Shares | BlackRock Global Allocation V.I. Class I Shares | BlackRock Global Allocation V.I. Class I Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 2578765 | 4.74 | to | 15.72 | 8142209 | 3.40 | 1.25 | to | 2.65 | 18.32 | to | 16.71 |
| 12/31/2024 | 2824571 | 4.01 | to | 13.47 | 7726926 | 1.31 | 1.25 | to | 2.65 | 7.88 | to | 6.40 |
| 12/31/2023 | 3100120 | 3.72 | to | 12.66 | 7932144 | 2.13 | 1.25 | to | 2.65 | 11.44 | to | 9.92 |
| 12/31/2022 | 3447241 | 3.33 | to | 11.51 | 7994086 |  | 1.25 | to | 2.65 | (16.90) | to | (18.03) |
| 12/31/2021 | 3779531 | 4.01 | to | 14.05 | 10653267 | 0.89 | 1.25 | to | 2.65 | 5.36 | to | 3.92 |
| BlackRock High Yield V.I. Class I Shares | BlackRock High Yield V.I. Class I Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 738807 | 3.57 | to | 12.94 | 2480786 | 6.74 | 1.25 | to | 2.65 | 7.84 | to | 6.37 |
| 12/31/2024 | 822784 | 3.31 | to | 12.16 | 2570000 | 6.95 | 1.25 | to | 2.65 | 6.92 | to | 5.46 |
| 12/31/2023 | 891751 | 3.09 | to | 11.53 | 2614880 | 6.56 | 1.25 | to | 2.65 | 11.80 | to | 10.28 |
| 12/31/2022 | 937485 | 2.77 | to | 10.46 | 2463283 | 5.31 | 1.25 | to | 2.65 | (11.45) | to | (12.65) |
| 12/31/2021 | 1009939 | 3.12 | to | 11.97 | 3009551 | 4.52 | 1.25 | to | 2.65 | 4.02 | to | 2.61 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| Columbia - Acorn |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 |  | $3.64 | to | $15.88 | $- | -% | 0.30% | to | 2.50% | 4.16% | to | 1.92% |
| 12/31/2024 |  | 3.50 | to | 15.59 |  |  | 0.30 | to | 2.50 | 13.84 | to | 11.38 |
| 12/31/2023 |  | 3.07 | to | 13.99 |  |  | 0.30 | to | 2.50 | 21.37 | to | 18.78 |
| 12/31/2022 |  | 2.53 | to | 11.78 |  |  | 0.30 | to | 2.50 | (33.66) | to | (35.09) |
| 12/31/2021 |  | 3.82 | to | 18.15 |  |  | 0.30 | to | 2.50 | 8.57 | to | 6.24 |
| Columbia - Acorn International | Columbia - Acorn International |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 110003 | 1.90 | to | 12.27 | 296281 | 1.47 | 0.30 | to | 2.50 | 12.42 | to | 10.01 |
| 12/31/2024 | 20766 | 1.69 | to | 11.15 | 143168 | 1.39 | 0.30 | to | 2.50 | (8.52) | to | (10.50) |
| 12/31/2023 | 22363 | 1.85 | to | 12.46 | 169801 | 0.31 | 0.30 | to | 2.50 | 16.60 | to | 14.11 |
| 12/31/2022 | 23884 | 1.59 | to | 10.92 | 156056 | 0.93 | 0.30 | to | 2.50 | (34.04) | to | (35.46) |
| 12/31/2021 | 32978 | 2.41 | to | 16.92 | 287903 | 0.56 | 0.30 | to | 2.50 | 18.45 | to | 15.91 |
| Dimensional VA Equity Allocation | Dimensional VA Equity Allocation |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 169657 | 19.73 | to | 19.50 | 3339525 | 2.51 | 0.27 | to | 0.47 | 19.62 | to | 19.38 |
| 12/31/2024 | 128815 | 16.50 | to | 16.33 | 2119149 | 1.98 | 0.27 | to | 0.47 | 14.79 | to | 14.56 |
| 12/31/2023 | 120642 | 14.37 | to | 14.26 | 1729713 | 2.40 | 0.27 | to | 0.47 | 19.82 | to | 19.58 |
| 12/31/2022 | 101956 | 11.99 | to | 11.92 | 1220469 | 1.92 | 0.27 | to | 0.47 | (13.91) | to | (14.09) |
| 12/31/2021 | 61903 | 13.93 | to | 13.88 | 860593 | 2.53 | 0.27 | to | 0.47 | 24.04 | to | 23.79 |
| Dimensional VA Global Bond | Dimensional VA Global Bond |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 515118 | 10.70 | to | 9.37 | 5156994 | 4.96 | 0.27 | to | 2.60 | 4.07 | to | 1.67 |
| 12/31/2024 | 329428 | 10.28 | to | 9.21 | 3237883 | 5.11 | 0.27 | to | 2.60 | 5.10 | to | 2.67 |
| 12/31/2023 | 307925 | 9.78 | to | 8.98 | 2909169 | 5.08 | 0.27 | to | 2.60 | 4.77 | to | 2.36 |
| 12/31/2022 | 217471 | 9.34 | to | 8.77 | 1982769 | 1.85 | 0.27 | to | 2.60 | (6.59) | to | (8.73) |
| 12/31/2021 | 132281 | 9.99 | to | 9.61 | 1299932 | 1.55 | 0.27 | to | 2.60 | (1.31) | to | (3.58) |
| Dimensional VA Global Moderate Allocation | Dimensional VA Global Moderate Allocation | Dimensional VA Global Moderate Allocation |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 201196 | 16.46 | to | 16.26 | 3310428 | 3.84 | 0.27 | to | 0.47 | 14.37 | to | 14.15 |
| 12/31/2024 | 101673 | 14.39 | to | 14.24 | 1462558 | 3.26 | 0.27 | to | 0.47 | 11.69 | to | 11.46 |
| 12/31/2023 | 55338 | 12.88 | to | 12.78 | 712676 | 2.88 | 0.27 | to | 0.47 | 14.42 | to | 14.19 |
| 12/31/2022 | 47075 | 11.26 | to | 11.19 | 529889 | 3.35 | 0.27 | to | 0.47 | (11.20) | to | (11.37) |
| 12/31/2021 | 6725 | 12.68 | to | 12.63 | 85165 | 0.45 | 0.27 | to | 0.47 | 13.90 | to | 13.67 |
| Dimensional VA International Small | Dimensional VA International Small |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 92280 | 16.72 | to | 16.52 | 1541812 | 3.68 | 0.27 | to | 0.47 | 36.62 | to | 36.35 |
| 12/31/2024 | 80831 | 12.24 | to | 12.12 | 988745 | 3.66 | 0.27 | to | 0.47 | 3.54 | to | 3.33 |
| 12/31/2023 | 72742 | 11.82 | to | 11.73 | 859817 | 3.30 | 0.27 | to | 0.47 | 13.80 | to | 13.58 |
| 12/31/2022 | 64378 | 10.39 | to | 10.33 | 668692 | 3.28 | 0.27 | to | 0.47 | (17.87) | to | (18.03) |
| 12/31/2021 | 29546 | 12.65 | to | 12.60 | 373647 | 2.70 | 0.27 | to | 0.47 | 14.26 | to | 14.03 |
| Dimensional VA International Value | Dimensional VA International Value |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 127351 | 20.24 | to | 19.99 | 2574461 | 4.55 | 0.27 | to | 0.47 | 45.25 | to | 44.96 |
| 12/31/2024 | 118829 | 13.93 | to | 13.79 | 1654489 | 4.69 | 0.27 | to | 0.47 | 6.33 | to | 6.12 |
| 12/31/2023 | 84288 | 13.10 | to | 13.00 | 1103871 | 5.26 | 0.27 | to | 0.47 | 17.54 | to | 17.31 |
| 12/31/2022 | 67116 | 11.15 | to | 11.08 | 747852 | 4.36 | 0.27 | to | 0.47 | (3.72) | to | (3.91) |
| 12/31/2021 | 30790 | 11.58 | to | 11.53 | 356360 | 6.25 | 0.27 | to | 0.47 | 17.80 | to | 17.56 |
| Dimensional VA Short-Term Fixed | Dimensional VA Short-Term Fixed |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 275210 | 11.28 | to | 11.15 | 3101997 | 4.25 | 0.27 | to | 0.47 | 4.05 | to | 3.84 |
| 12/31/2024 | 247352 | 10.84 | to | 10.73 | 2678957 | 6.25 | 0.27 | to | 0.47 | 5.20 | to | 4.99 |
| 12/31/2023 | 148930 | 10.31 | to | 10.22 | 1532735 | 4.49 | 0.27 | to | 0.47 | 4.70 | to | 4.49 |
| 12/31/2022 | 102470 | 9.84 | to | 9.78 | 1007153 | 1.46 | 0.27 | to | 0.47 | (1.42) | to | (1.62) |
| 12/31/2021 | 78002 | 9.99 | to | 9.95 | 778117 | 0.01 | 0.27 | to | 0.47 | (0.46) | to | (0.66) |
| Dimensional VA U.S. Large Value | Dimensional VA U.S. Large Value |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 200566 | 17.13 | to | 16.93 | 3429179 | 1.97 | 0.27 | to | 0.47 | 15.51 | to | 15.28 |
| 12/31/2024 | 181441 | 14.83 | to | 14.68 | 2684952 | 2.34 | 0.27 | to | 0.47 | 13.08 | to | 12.85 |
| 12/31/2023 | 121902 | 13.11 | to | 13.01 | 1594443 | 2.51 | 0.27 | to | 0.47 | 10.62 | to | 10.40 |
| 12/31/2022 | 101597 | 11.86 | to | 11.78 | 1201596 | 2.74 | 0.27 | to | 0.47 | (5.13) | to | (5.32) |
| 12/31/2021 | 52319 | 12.50 | to | 12.45 | 653107 | 2.32 | 0.27 | to | 0.47 | 26.69 | to | 26.44 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| Dimensional VA U.S. Targeted Value | Dimensional VA U.S. Targeted Value |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 127481 | $19.35 | to | $19.11 | $2463262 | 2.22% | 0.27% | to | 0.47% | 8.65% | to | 8.43% |
| 12/31/2024 | 98484 | 17.81 | to | 17.63 | 1751413 | 1.59 | 0.27 | to | 0.47 | 7.84 | to | 7.63 |
| 12/31/2023 | 79486 | 16.51 | to | 16.38 | 1311280 | 1.52 | 0.27 | to | 0.47 | 19.71 | to | 19.47 |
| 12/31/2022 | 76895 | 13.79 | to | 13.71 | 1060221 | 1.84 | 0.27 | to | 0.47 | (4.47) | to | (4.66) |
| 12/31/2021 | 35853 | 14.44 | to | 14.38 | 517428 | 2.01 | 0.27 | to | 0.47 | 39.30 | to | 39.03 |
| Fidelity® VIP Balanced Service Class 2 | Fidelity® VIP Balanced Service Class 2 |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 61586504 | 4.23 | to | 20.55 | 482672463 | 1.55 | 0.30 | to | 2.65 | 14.61 | to | 11.99 |
| 12/31/2024 | 72222769 | 3.69 | to | 18.35 | 488223926 | 1.68 | 0.30 | to | 2.65 | 15.28 | to | 12.63 |
| 12/31/2023 | 82360131 | 3.20 | to | 16.29 | 474442207 | 1.54 | 0.30 | to | 2.65 | 20.87 | to | 18.11 |
| 12/31/2022 | 90884668 | 2.65 | to | 13.79 | 426076806 | 1.04 | 0.30 | to | 2.65 | (18.43) | to | (20.30) |
| 12/31/2021 | 103061636 | 3.25 | to | 17.31 | 585801138 | 0.73 | 0.30 | to | 2.65 | 17.64 | to | 14.95 |
| Fidelity® VIP Consumer Staples Initial Class | Fidelity® VIP Consumer Staples Initial Class | Fidelity® VIP Consumer Staples Initial Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 594888 | 14.24 | to | 12.86 | 8036627 | 2.16 | 0.70 | to | 2.50 | (3.66) | to | (5.38) |
| 12/31/2024 | 449369 | 14.78 | to | 13.59 | 6362727 | 2.26 | 0.70 | to | 2.50 | 4.83 | to | 2.95 |
| 12/31/2023 | 377482 | 14.10 | to | 13.20 | 5142722 | 2.12 | 0.70 | to | 2.50 | 2.42 | to | 0.60 |
| 12/31/2022 | 255802 | 13.76 | to | 13.12 | 3426928 | 2.02 | 0.70 | to | 2.50 | (1.31) | to | (3.06) |
| 12/31/2021 | 123456 | 13.95 | to | 13.53 | 1692428 | 2.98 | 0.70 | to | 2.50 | 13.44 | to | 11.42 |
| Fidelity® VIP Contrafund® Initial Class | Fidelity® VIP Contrafund® Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 11994 | 7.02 | to | 30.95 | 127243 | 0.14 | 0.30 | to | 2.70 | 21.12 | to | 18.29 |
| 12/31/2024 | 12541 | 5.79 | to | 26.17 | 108094 | 0.19 | 0.30 | to | 2.70 | 33.39 | to | 30.26 |
| 12/31/2023 | 13437 | 4.34 | to | 20.09 | 95817 | 0.47 | 0.30 | to | 2.70 | 33.05 | to | 29.96 |
| 12/31/2022 | 17526 | 3.27 | to | 15.46 | 97922 | 0.43 | 0.30 | to | 2.70 | (26.53) | to | (28.25) |
| 12/31/2021 | 26578 | 4.44 | to | 21.54 | 239522 | 0.05 | 0.30 | to | 2.70 | 27.45 | to | 24.48 |
| Fidelity® VIP Contrafund® Service Class 2 | Fidelity® VIP Contrafund® Service Class 2 | Fidelity® VIP Contrafund® Service Class 2 |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 69030739 | 8.25 | to | 30.16 | 1107943899 |  | 0.30 | to | 2.80 | 20.83 | to | 17.90 |
| 12/31/2024 | 76807430 | 6.83 | to | 25.58 | 998060286 | 0.03 | 0.30 | to | 2.80 | 33.05 | to | 29.80 |
| 12/31/2023 | 85312133 | 5.13 | to | 19.71 | 818065180 | 0.26 | 0.30 | to | 2.80 | 32.72 | to | 29.50 |
| 12/31/2022 | 91926554 | 3.87 | to | 15.22 | 664973940 | 0.26 | 0.30 | to | 2.80 | (26.71) | to | (28.49) |
| 12/31/2021 | 100491552 | 5.28 | to | 21.28 | 994100891 | 0.03 | 0.30 | to | 2.80 | 27.13 | to | 24.04 |
| Fidelity® VIP Energy Service Class 2 | Fidelity® VIP Energy Service Class 2 |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 824044 | 31.16 | to | 28.14 | 24231693 | 2.01 | 0.50 | to | 2.30 | 9.79 | to | 7.83 |
| 12/31/2024 | 827350 | 28.38 | to | 26.10 | 22375264 | 2.25 | 0.50 | to | 2.30 | 3.50 | to | 1.64 |
| 12/31/2023 | 667690 | 27.42 | to | 25.68 | 17617012 | 2.45 | 0.50 | to | 2.30 | 0.20 | to | (1.58) |
| 12/31/2022 | 505201 | 27.37 | to | 26.09 | 13435529 | 2.46 | 0.50 | to | 2.30 | 62.06 | to | 59.18 |
| 12/31/2021 | 226711 | 16.89 | to | 16.39 | 3760207 | 3.53 | 0.50 | to | 2.30 | 54.06 | to | 51.32 |
| Fidelity® VIP Equity-Income Initial Class | Fidelity® VIP Equity-Income Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 17740 | 3.69 | to | 19.66 | 66654 | 1.82 | 0.30 | to | 2.70 | 18.66 | to | 15.89 |
| 12/31/2024 | 18491 | 3.11 | to | 16.96 | 58820 | 1.78 | 0.30 | to | 2.70 | 15.00 | to | 12.30 |
| 12/31/2023 | 19236 | 2.70 | to | 15.10 | 53451 | 1.94 | 0.30 | to | 2.70 | 10.32 | to | 7.75 |
| 12/31/2022 | 20012 | 2.45 | to | 14.02 | 50635 | 1.88 | 0.30 | to | 2.70 | (5.24) | to | (7.45) |
| 12/31/2021 | 21037 | 2.59 | to | 15.15 | 56446 | 1.91 | 0.30 | to | 2.70 | 24.52 | to | 21.61 |
| Fidelity® VIP Equity-Income Service Class 2 | Fidelity® VIP Equity-Income Service Class 2 | Fidelity® VIP Equity-Income Service Class 2 |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 7913937 | 4.59 | to | 19.14 | 31356016 | 1.59 | 0.30 | to | 2.80 | 18.39 | to | 15.51 |
| 12/31/2024 | 9039595 | 3.88 | to | 16.57 | 30534972 | 1.55 | 0.30 | to | 2.80 | 14.71 | to | 11.91 |
| 12/31/2023 | 10178460 | 3.38 | to | 14.81 | 30367510 | 1.70 | 0.30 | to | 2.80 | 10.05 | to | 7.38 |
| 12/31/2022 | 11579284 | 3.07 | to | 13.79 | 31755838 | 1.66 | 0.30 | to | 2.80 | (5.53) | to | (7.82) |
| 12/31/2021 | 13003796 | 3.25 | to | 14.96 | 38235541 | 1.55 | 0.30 | to | 2.80 | 24.23 | to | 21.21 |
| Fidelity® VIP Growth Initial Class | Fidelity® VIP Growth Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 5452 | 8.91 | to | 38.20 | 40698 | 0.29 | 0.30 | to | 2.70 | 14.56 | to | 11.88 |
| 12/31/2024 | 5806 | 7.78 | to | 34.15 | 38019 |  | 0.30 | to | 2.70 | 30.00 | to | 26.95 |
| 12/31/2023 | 6146 | 5.98 | to | 26.90 | 31107 | 0.13 | 0.30 | to | 2.70 | 35.83 | to | 32.67 |
| 12/31/2022 | 6487 | 4.40 | to | 20.27 | 24291 | 0.62 | 0.30 | to | 2.70 | (24.68) | to | (26.44) |
| 12/31/2021 | 6995 | 5.85 | to | 27.56 | 34948 |  | 0.30 | to | 2.70 | 22.85 | to | 19.98 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| Fidelity® VIP Growth Service Class 2 | Fidelity® VIP Growth Service Class 2 |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 6132835 | $9.79 | to | $37.27 | $39631859 | 0.05% | 0.30% | to | 2.80% | 14.27% | to | 11.49% |
| 12/31/2024 | 7228451 | 8.57 | to | 33.43 | 41333746 |  | 0.30 | to | 2.80 | 29.68 | to | 26.51 |
| 12/31/2023 | 7797178 | 6.61 | to | 26.42 | 34909236 |  | 0.30 | to | 2.80 | 35.48 | to | 32.20 |
| 12/31/2022 | 8996136 | 4.88 | to | 19.99 | 30132579 | 0.36 | 0.30 | to | 2.80 | (24.87) | to | (26.69) |
| 12/31/2021 | 10219740 | 6.49 | to | 27.27 | 46107542 |  | 0.30 | to | 2.80 | 22.54 | to | 19.56 |
| Fidelity® VIP Growth Opportunities Service Class 2 | Fidelity® VIP Growth Opportunities Service Class 2 | Fidelity® VIP Growth Opportunities Service Class 2 |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 405505 | 53.16 | to | 46.35 | 3695140 |  | 1.25 | to | 2.80 | 20.13 | to | 18.32 |
| 12/31/2024 | 433095 | 44.25 | to | 39.17 | 3294242 |  | 1.25 | to | 2.80 | 36.84 | to | 34.77 |
| 12/31/2023 | 512379 | 32.34 | to | 29.06 | 2839309 |  | 1.25 | to | 2.80 | 43.52 | to | 41.36 |
| 12/31/2022 | 566491 | 22.53 | to | 20.56 | 2200748 |  | 1.25 | to | 2.80 | (39.08) | to | (40.00) |
| 12/31/2021 | 597638 | 36.98 | to | 34.27 | 3820317 |  | 1.25 | to | 2.80 | 10.29 | to | 8.63 |
| Fidelity® VIP Health Care Service Class 2 | Fidelity® VIP Health Care Service Class 2 |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 2093750 | 14.20 | to | 12.83 | 28158801 | 0.18 | 0.50 | to | 2.30 | 13.53 | to | 11.50 |
| 12/31/2024 | 1812699 | 12.51 | to | 11.50 | 21668103 |  | 0.50 | to | 2.30 | 4.33 | to | 2.46 |
| 12/31/2023 | 1414284 | 11.99 | to | 11.23 | 16350368 |  | 0.50 | to | 2.30 | 3.49 | to | 1.65 |
| 12/31/2022 | 798771 | 11.59 | to | 11.04 | 9004288 |  | 0.50 | to | 2.30 | (13.05) | to | (14.60) |
| 12/31/2021 | 563662 | 13.33 | to | 12.93 | 7381141 | 0.02 | 0.50 | to | 2.30 | 10.89 | to | 8.91 |
| Fidelity® VIP Mid Cap Initial Class | Fidelity® VIP Mid Cap Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 6377 | 4.45 | to | 18.75 | 50018 | 0.31 | 0.30 | to | 2.70 | 11.42 | to | 8.82 |
| 12/31/2024 | 7526 | 4.00 | to | 17.23 | 70376 | 0.57 | 0.30 | to | 2.70 | 17.14 | to | 14.39 |
| 12/31/2023 | 8182 | 3.41 | to | 15.06 | 57825 | 0.61 | 0.30 | to | 2.70 | 14.73 | to | 12.06 |
| 12/31/2022 | 10501 | 2.97 | to | 13.44 | 53442 | 0.45 | 0.30 | to | 2.70 | (15.00) | to | (16.98) |
| 12/31/2021 | 15709 | 3.50 | to | 16.19 | 76481 | 0.61 | 0.30 | to | 2.70 | 25.23 | to | 22.30 |
| Fidelity® VIP Mid Cap Service Class 2 | Fidelity® VIP Mid Cap Service Class 2 |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 35265325 | 5.39 | to | 18.35 | 387032488 | 0.25 | 0.30 | to | 2.80 | 11.15 | to | 8.45 |
| 12/31/2024 | 39115304 | 4.85 | to | 16.92 | 375339733 | 0.35 | 0.30 | to | 2.80 | 16.82 | to | 13.97 |
| 12/31/2023 | 42354398 | 4.15 | to | 14.84 | 340699765 | 0.39 | 0.30 | to | 2.80 | 14.46 | to | 11.68 |
| 12/31/2022 | 45613090 | 3.63 | to | 13.29 | 316552322 | 0.26 | 0.30 | to | 2.80 | (15.22) | to | (17.28) |
| 12/31/2021 | 51504031 | 4.28 | to | 16.07 | 429576602 | 0.34 | 0.30 | to | 2.80 | 24.93 | to | 21.89 |
| Fidelity® VIP Technology Initial Class | Fidelity® VIP Technology Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 5133927 | 33.65 | to | 30.39 | 162946745 |  | 0.70 | to | 2.50 | 21.91 | to | 19.74 |
| 12/31/2024 | 3824445 | 27.60 | to | 25.38 | 100567757 |  | 0.70 | to | 2.50 | 34.64 | to | 32.23 |
| 12/31/2023 | 2212243 | 20.50 | to | 19.19 | 43654201 | 0.16 | 0.70 | to | 2.50 | 57.22 | to | 54.43 |
| 12/31/2022 | 1156410 | 13.04 | to | 12.43 | 14669451 |  | 0.70 | to | 2.50 | (36.30) | to | (37.44) |
| 12/31/2021 | 817742 | 20.47 | to | 19.87 | 16455465 |  | 0.70 | to | 2.50 | 27.27 | to | 25.00 |
| Fidelity® VIP Utilities Initial Class | Fidelity® VIP Utilities Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 864041 | 20.17 | to | 18.22 | 16495919 | 2.08 | 0.70 | to | 2.50 | 13.31 | to | 11.29 |
| 12/31/2024 | 574775 | 17.80 | to | 16.37 | 9773856 | 2.24 | 0.70 | to | 2.50 | 28.10 | to | 25.80 |
| 12/31/2023 | 413908 | 13.90 | to | 13.01 | 5546884 | 2.43 | 0.70 | to | 2.50 | (1.72) | to | (3.47) |
| 12/31/2022 | 295507 | 14.14 | to | 13.48 | 4063657 | 2.07 | 0.70 | to | 2.50 | 4.69 | to | 2.83 |
| 12/31/2021 | 85074 | 13.51 | to | 13.11 | 1130117 | 3.31 | 0.70 | to | 2.50 | 16.68 | to | 14.60 |
| Fidelity® VIP Value Strategies Initial Class | Fidelity® VIP Value Strategies Initial Class | Fidelity® VIP Value Strategies Initial Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 33409 | 3.80 | to | 19.91 | 378265 | 1.01 | 0.30 | to | 2.50 | 7.66 | to | 5.35 |
| 12/31/2024 | 44617 | 3.53 | to | 18.90 | 440992 | 0.92 | 0.30 | to | 2.50 | 9.07 | to | 6.72 |
| 12/31/2023 | 68984 | 3.23 | to | 17.71 | 507495 | 1.20 | 0.30 | to | 2.50 | 20.49 | to | 17.91 |
| 12/31/2022 | 51589 | 2.68 | to | 15.02 | 384531 | 1.10 | 0.30 | to | 2.50 | (7.30) | to | (9.29) |
| 12/31/2021 | 60020 | 2.90 | to | 16.56 | 445753 | 1.64 | 0.30 | to | 2.50 | 33.20 | to | 30.34 |
| Fidelity® VIP Value Strategies Service Class 2 | Fidelity® VIP Value Strategies Service Class 2 | Fidelity® VIP Value Strategies Service Class 2 |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 26709378 | 4.89 | to | 19.21 | 234016020 | 0.79 | 0.30 | to | 2.80 | 7.38 | to | 4.77 |
| 12/31/2024 | 29942057 | 4.55 | to | 18.34 | 241052295 | 0.77 | 0.30 | to | 2.80 | 8.83 | to | 6.17 |
| 12/31/2023 | 32815104 | 4.18 | to | 17.27 | 241899996 | 0.89 | 0.30 | to | 2.80 | 20.25 | to | 17.33 |
| 12/31/2022 | 37320508 | 3.48 | to | 14.72 | 229047613 | 0.88 | 0.30 | to | 2.80 | (7.63) | to | (9.87) |
| 12/31/2021 | 37651512 | 3.77 | to | 16.33 | 243543351 | 1.24 | 0.30 | to | 2.80 | 32.94 | to | 29.71 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| Franklin Allocation Class 4 Shares | Franklin Allocation Class 4 Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 13527847 | $2.27 | to | $13.74 | $39008976 | 1.78% | 0.60% | to | 2.80% | 11.86% | to | 9.46% |
| 12/31/2024 | 16287599 | 2.03 | to | 12.55 | 42505855 | 1.89 | 0.60 | to | 2.80 | 8.23 | to | 5.91 |
| 12/31/2023 | 19249639 | 1.87 | to | 11.85 | 46977467 | 1.31 | 0.60 | to | 2.80 | 13.94 | to | 11.51 |
| 12/31/2022 | 22038394 | 1.64 | to | 10.63 | 47702927 | 1.50 | 0.60 | to | 2.80 | (16.69) | to | (18.47) |
| 12/31/2021 | 24994155 | 1.97 | to | 13.04 | 65635756 | 1.59 | 0.60 | to | 2.80 | 10.87 | to | 8.50 |
| Franklin Income Class 2 Shares | Franklin Income Class 2 Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 14259275 | 2.26 | to | 13.82 | 29894208 | 5.11 | 1.00 | to | 2.80 | 11.44 | to | 9.49 |
| 12/31/2024 | 16601541 | 2.03 | to | 12.62 | 31464117 | 5.20 | 1.00 | to | 2.80 | 6.14 | to | 4.27 |
| 12/31/2023 | 19220833 | 1.91 | to | 12.10 | 34524329 | 5.19 | 1.00 | to | 2.80 | 7.55 | to | 5.67 |
| 12/31/2022 | 22392372 | 1.78 | to | 11.45 | 37594864 | 4.85 | 1.00 | to | 2.80 | (6.41) | to | (8.04) |
| 12/31/2021 | 25879319 | 1.90 | to | 12.46 | 46639026 | 4.76 | 1.00 | to | 2.80 | 15.60 | to | 13.58 |
| Franklin Mutual Shares Class 2 Shares | Franklin Mutual Shares Class 2 Shares |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 3980985 | 2.17 | to | 13.77 | 8103409 | 1.99 | 1.00 | to | 2.80 | 10.42 | to | 8.48 |
| 12/31/2024 | 4548110 | 1.97 | to | 12.69 | 8443401 | 1.94 | 1.00 | to | 2.80 | 10.16 | to | 8.22 |
| 12/31/2023 | 5237841 | 1.79 | to | 11.73 | 8898993 | 1.87 | 1.00 | to | 2.80 | 12.34 | to | 10.38 |
| 12/31/2022 | 5920823 | 1.59 | to | 10.63 | 9000977 | 1.83 | 1.00 | to | 2.80 | (8.35) | to | (9.95) |
| 12/31/2021 | 6532283 | 1.74 | to | 11.80 | 10894622 | 2.81 | 1.00 | to | 2.80 | 17.99 | to | 15.92 |
| Franklin Templeton Foreign Class 2 Shares | Franklin Templeton Foreign Class 2 Shares | Franklin Templeton Foreign Class 2 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 8704341 | 1.50 | to | 12.71 | 11964461 | 2.34 | 1.00 | to | 2.80 | 27.92 | to | 25.68 |
| 12/31/2024 | 9975714 | 1.17 | to | 10.12 | 10778939 | 2.41 | 1.00 | to | 2.80 | (1.98) | to | (3.71) |
| 12/31/2023 | 11511406 | 1.20 | to | 10.51 | 12776212 | 3.24 | 1.00 | to | 2.80 | 19.57 | to | 17.48 |
| 12/31/2022 | 13094418 | 1.00 | to | 8.94 | 12216487 | 3.06 | 1.00 | to | 2.80 | (8.52) | to | (10.12) |
| 12/31/2021 | 14680216 | 1.09 | to | 9.95 | 15047838 | 1.88 | 1.00 | to | 2.80 | 3.13 | to | 1.32 |
| Invesco V.I. American Franchise Series II Shares | Invesco V.I. American Franchise Series II Shares | Invesco V.I. American Franchise Series II Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 1299710 | 5.77 | to | 29.36 | 6368845 |  | 0.30 | to | 2.80 | 11.05 | to | 8.35 |
| 12/31/2024 | 1447225 | 5.20 | to | 27.10 | 6458873 |  | 0.30 | to | 2.80 | 34.16 | to | 30.88 |
| 12/31/2023 | 1598373 | 3.87 | to | 20.70 | 5380977 |  | 0.30 | to | 2.80 | 40.18 | to | 36.78 |
| 12/31/2022 | 1850551 | 2.76 | to | 15.14 | 4496437 |  | 0.30 | to | 2.80 | (31.50) | to | (33.17) |
| 12/31/2021 | 2156185 | 4.03 | to | 22.65 | 7746979 |  | 0.30 | to | 2.80 | 11.31 | to | 8.61 |
| Janus Henderson - Enterprise Service Shares | Janus Henderson - Enterprise Service Shares | Janus Henderson - Enterprise Service Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 3029789 | 7.94 | to | 22.25 | 13981521 | 0.18 | 0.30 | to | 2.80 | 7.09 | to | 4.49 |
| 12/31/2024 | 3581085 | 7.42 | to | 21.29 | 15556069 | 0.64 | 0.30 | to | 2.80 | 14.98 | to | 12.16 |
| 12/31/2023 | 4510553 | 6.45 | to | 18.98 | 17081165 | 0.09 | 0.30 | to | 2.80 | 17.42 | to | 14.58 |
| 12/31/2022 | 4884256 | 5.49 | to | 16.57 | 15959583 | 0.27 | 0.30 | to | 2.80 | (16.40) | to | (18.43) |
| 12/31/2021 | 5365361 | 6.57 | to | 20.31 | 21479782 | 0.25 | 0.30 | to | 2.80 | 16.19 | to | 13.37 |
| Janus Henderson - Global Research Service Shares | Janus Henderson - Global Research Service Shares | Janus Henderson - Global Research Service Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 6822924 | 4.99 | to | 24.94 | 20505345 | 0.59 | 0.30 | to | 2.80 | 20.24 | to | 17.32 |
| 12/31/2024 | 8024909 | 4.15 | to | 21.26 | 20266507 | 0.59 | 0.30 | to | 2.80 | 22.90 | to | 19.89 |
| 12/31/2023 | 8973319 | 3.38 | to | 17.73 | 18716834 | 0.77 | 0.30 | to | 2.80 | 26.09 | to | 23.04 |
| 12/31/2022 | 9960358 | 2.68 | to | 14.41 | 16749220 | 1.47 | 0.30 | to | 2.80 | (19.85) | to | (21.80) |
| 12/31/2021 | 11113961 | 3.34 | to | 18.43 | 23620614 | 0.35 | 0.30 | to | 2.80 | 17.44 | to | 14.59 |
| Janus Henderson - Mid Cap Value Service Shares | Janus Henderson - Mid Cap Value Service Shares | Janus Henderson - Mid Cap Value Service Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 712233 | 16.70 | to | 14.56 | 2740591 | 1.43 | 1.25 | to | 2.80 | 4.98 | to | 3.40 |
| 12/31/2024 | 760008 | 15.91 | to | 14.08 | 2790000 | 0.84 | 1.25 | to | 2.80 | 11.40 | to | 9.71 |
| 12/31/2023 | 783877 | 14.28 | to | 12.84 | 2587633 | 0.95 | 1.25 | to | 2.80 | 9.74 | to | 8.09 |
| 12/31/2022 | 838877 | 13.01 | to | 11.88 | 2531498 | 1.16 | 1.25 | to | 2.80 | (6.94) | to | (8.34) |
| 12/31/2021 | 888292 | 13.98 | to | 12.96 | 2883923 | 0.28 | 1.25 | to | 2.80 | 17.95 | to | 16.17 |
| MFS® New Discovery Service Class | MFS® New Discovery Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 5037195 | 5.51 | to | 19.14 | 22554187 |  | 0.30 | to | 2.80 | 12.22 | to | 9.49 |
| 12/31/2024 | 5843402 | 4.91 | to | 17.48 | 23600846 |  | 0.30 | to | 2.80 | 6.12 | to | 3.52 |
| 12/31/2023 | 6929860 | 4.63 | to | 16.89 | 26715569 |  | 0.30 | to | 2.80 | 13.91 | to | 11.15 |
| 12/31/2022 | 7760463 | 4.06 | to | 15.19 | 26589500 |  | 0.30 | to | 2.80 | (30.20) | to | (31.90) |
| 12/31/2021 | 8859603 | 5.82 | to | 22.31 | 43959107 |  | 0.30 | to | 2.80 | 1.27 | to | (1.20) |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| MFS® Total Return Service Class | MFS® Total Return Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 8859440 | $3.21 | to | $14.52 | $24972101 | 2.50% | 0.30% | to | 2.80% | 10.58% | to | 7.89% |
| 12/31/2024 | 9976823 | 2.90 | to | 13.46 | 25735220 | 2.30 | 0.30 | to | 2.80 | 7.14 | to | 4.52 |
| 12/31/2023 | 11473096 | 2.71 | to | 12.88 | 27972116 | 1.81 | 0.30 | to | 2.80 | 9.89 | to | 7.22 |
| 12/31/2022 | 12855978 | 2.46 | to | 12.01 | 28899652 | 1.47 | 0.30 | to | 2.80 | (10.11) | to | (12.29) |
| 12/31/2021 | 14508866 | 2.74 | to | 13.70 | 36749509 | 1.61 | 0.30 | to | 2.80 | 13.50 | to | 10.74 |
| NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | NVIT Fidelity Institutional AM® Emerging Markets Class D Shares | NVIT Fidelity Institutional AM® Emerging Markets Class D Shares |  |  |  |  |  |  |  |
| 12/31/2025 | 251 | 15.96 | to | 13.12 | 3877 | 0.32 | 0.30 | to | 2.50 | 35.36 | to | 32.46 |
| 12/31/2024 | 255 | 11.79 | to | 9.91 | 2924 | 1.35 | 0.30 | to | 2.50 | 5.67 | to | 3.39 |
| 12/31/2023 | 260 | 11.16 | to | 9.58 | 2828 | 1.42 | 0.30 | to | 2.50 | 3.49 | to | 1.28 |
| 12/31/2022 | 623 | 10.78 | to | 9.46 | 6615 | 0.09 | 0.30 | to | 2.50 | (25.22) | to | (26.82) |
| 12/31/2021 | 1346 | 14.42 | to | 12.93 | 19211 | 0.98 | 0.30 | to | 2.50 | (7.87) | to | (9.84) |
| Putnam VT International Value Class IB Shares | Putnam VT International Value Class IB Shares | Putnam VT International Value Class IB Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025<sup>(1)</sup> | 25779 | 10.50 | to | 10.46 | 270040 |  | 0.35 | to | 2.15 |  | to |  |
| State Street Total Return V.I.S. Class 3 Shares | State Street Total Return V.I.S. Class 3 Shares | State Street Total Return V.I.S. Class 3 Shares |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 9277234 | 20.57 | to | 14.26 | 40205592 | 2.24 | 0.40 | to | 2.85 | 15.02 | to | 12.28 |
| 12/31/2024 | 10812910 | 17.88 | to | 12.70 | 38012499 | 4.22 | 0.40 | to | 2.85 | 10.61 | to | 7.96 |
| 12/31/2023 | 12717631 | 16.16 | to | 11.77 | 38814247 | 1.95 | 0.40 | to | 2.85 | 14.75 | to | 12.02 |
| 12/31/2022 | 14405589 | 14.09 | to | 10.50 | 38543371 | 0.38 | 0.40 | to | 2.85 | (17.05) | to | (19.02) |
| 12/31/2021 | 16476801 | 16.98 | to | 12.97 | 54877619 | 1.86 | 0.40 | to | 2.85 | 12.75 | to | 10.07 |
| TA 60/40 Allocation Service Class | TA 60/40 Allocation Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 8546193 | 18.76 | to | 15.76 | 70747627 | 2.12 | 0.20 | to | 2.50 | 14.67 | to | 12.10 |
| 12/31/2024 | 8670529 | 16.36 | to | 14.06 | 67844067 | 1.45 | 0.20 | to | 2.50 | 12.11 | to | 9.58 |
| 12/31/2023 | 9646407 | 14.59 | to | 12.83 | 66957043 | 1.31 | 0.20 | to | 2.50 | 15.72 | to | 13.13 |
| 12/31/2022 | 7791804 | 12.61 | to | 11.34 | 45596897 | 1.05 | 0.20 | to | 2.50 | (13.97) | to | (15.90) |
| 12/31/2021 | 7268881 | 14.66 | to | 13.49 | 52314019 | 0.89 | 0.20 | to | 2.50 | 13.06 | to | 10.53 |
| TA Aegon Bond Initial Class | TA Aegon Bond Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 66477958 | 1.86 | to | 9.41 | 105624854 | 6.48 | 0.30 | to | 2.80 | 6.81 | to | 4.21 |
| 12/31/2024 | 69704767 | 1.74 | to | 9.03 | 105444617 | 4.18 | 0.30 | to | 2.80 | 1.83 | to | (0.66) |
| 12/31/2023 | 71069764 | 1.71 | to | 9.09 | 107006368 | 0.93 | 0.30 | to | 2.80 | 6.13 | to | 3.56 |
| 12/31/2022 | 74748097 | 1.61 | to | 8.77 | 107584148 | 2.62 | 0.30 | to | 2.80 | (15.09) | to | (17.15) |
| 12/31/2021 | 83873456 | 1.89 | to | 10.59 | 143870348 | 1.54 | 0.30 | to | 2.80 | (1.17) | to | (3.57) |
| TA Aegon Bond Service Class | TA Aegon Bond Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 130152497 | 11.63 | to | 9.32 | 363684512 | 6.17 | 0.20 | to | 2.65 | 6.57 | to | 4.02 |
| 12/31/2024 | 152375845 | 10.91 | to | 8.96 | 397794476 | 3.91 | 0.20 | to | 2.65 | 1.67 | to | (0.77) |
| 12/31/2023 | 175074608 | 10.73 | to | 9.03 | 447343314 | 0.63 | 0.20 | to | 2.65 | 5.97 | to | 3.45 |
| 12/31/2022 | 200050355 | 10.13 | to | 8.73 | 480120989 | 2.33 | 0.20 | to | 2.65 | (15.25) | to | (17.27) |
| 12/31/2021 | 232991473 | 11.95 | to | 10.55 | 663798024 | 1.26 | 0.20 | to | 2.65 | (1.27) | to | (3.62) |
| TA Aegon Core Bond Service Class | TA Aegon Core Bond Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 35853779 | 11.86 | to | 9.34 | 201506551 | 2.12 | 0.20 | to | 2.65 | 6.52 | to | 3.97 |
| 12/31/2024 | 42423923 | 11.13 | to | 8.98 | 213707194 | 4.79 | 0.20 | to | 2.65 | 0.97 | to | (1.45) |
| 12/31/2023 | 46606096 | 11.03 | to | 9.11 | 228615006 | 2.24 | 0.20 | to | 2.65 | 5.57 | to | 3.06 |
| 12/31/2022 | 51645075 | 10.44 | to | 8.84 | 232049154 | 2.34 | 0.20 | to | 2.65 | (13.17) | to | (15.24) |
| 12/31/2021 | 59035305 | 12.03 | to | 10.43 | 305664647 | 2.37 | 0.20 | to | 2.65 | (1.46) | to | (3.82) |
| TA Aegon High Yield Bond Initial Class | TA Aegon High Yield Bond Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 15520058 | 3.04 | to | 12.07 | 44331549 | 6.92 | 0.30 | to | 2.80 | 8.14 | to | 5.51 |
| 12/31/2024 | 17223651 | 2.82 | to | 11.44 | 46068879 | 5.05 | 0.30 | to | 2.80 | 7.11 | to | 4.49 |
| 12/31/2023 | 18257942 | 2.63 | to | 10.94 | 45902229 | 4.55 | 0.30 | to | 2.80 | 10.78 | to | 8.09 |
| 12/31/2022 | 19518643 | 2.37 | to | 10.13 | 44804760 | 5.80 | 0.30 | to | 2.80 | (11.39) | to | (13.54) |
| 12/31/2021 | 22080227 | 2.68 | to | 11.71 | 57983166 | 5.25 | 0.30 | to | 2.80 | 6.03 | to | 3.45 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| TA Aegon High Yield Bond Service Class | TA Aegon High Yield Bond Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 14537501 | $16.48 | to | $11.95 | $107006555 | 6.49% | 0.20% | to | 2.65% | 8.05% | to | 5.47% |
| 12/31/2024 | 16442169 | 15.25 | to | 11.33 | 108305980 | 4.67 | 0.20 | to | 2.65 | 6.93 | to | 4.36 |
| 12/31/2023 | 18852746 | 14.26 | to | 10.86 | 113332925 | 4.19 | 0.20 | to | 2.65 | 10.65 | to | 8.02 |
| 12/31/2022 | 21416206 | 12.89 | to | 10.05 | 111804855 | 5.41 | 0.20 | to | 2.65 | (11.63) | to | (13.74) |
| 12/31/2021 | 25397221 | 14.59 | to | 11.65 | 150400166 | 4.93 | 0.20 | to | 2.65 | 6.04 | to | 3.51 |
| TA Aegon Sustainable Equity Income Initial Class | TA Aegon Sustainable Equity Income Initial Class | TA Aegon Sustainable Equity Income Initial Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 50859174 | 3.21 | to | 13.66 | 180037391 | 1.70 | 0.30 | to | 2.80 | 10.92 | to | 8.23 |
| 12/31/2024 | 57778153 | 2.90 | to | 12.62 | 186608017 | 2.07 | 0.30 | to | 2.80 | 16.58 | to | 13.73 |
| 12/31/2023 | 64615663 | 2.48 | to | 11.10 | 180433120 | 2.18 | 0.30 | to | 2.80 | 5.96 | to | 3.39 |
| 12/31/2022 | 73304123 | 2.34 | to | 10.74 | 195736594 | 2.16 | 0.30 | to | 2.80 | (11.89) | to | (14.03) |
| 12/31/2021 | 81614682 | 2.66 | to | 12.49 | 249624211 | 2.13 | 0.30 | to | 2.80 | 22.06 | to | 19.09 |
| TA Aegon Sustainable Equity Income Service Class | TA Aegon Sustainable Equity Income Service Class | TA Aegon Sustainable Equity Income Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 16234031 | 23.75 | to | 13.53 | 105379449 | 1.45 | 0.20 | to | 2.65 | 10.77 | to | 8.12 |
| 12/31/2024 | 18974873 | 21.44 | to | 12.51 | 106682204 | 1.81 | 0.20 | to | 2.65 | 16.37 | to | 13.57 |
| 12/31/2023 | 22043089 | 18.42 | to | 11.02 | 104927601 | 1.89 | 0.20 | to | 2.65 | 5.79 | to | 3.28 |
| 12/31/2022 | 25235399 | 17.41 | to | 10.67 | 112408344 | 1.85 | 0.20 | to | 2.65 | (12.02) | to | (14.11) |
| 12/31/2021 | 28772083 | 19.79 | to | 12.42 | 148018510 | 1.87 | 0.20 | to | 2.65 | 21.88 | to | 18.97 |
| TA Aegon U.S. Government Securities Initial Class | TA Aegon U.S. Government Securities Initial Class | TA Aegon U.S. Government Securities Initial Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 29312880 | 1.58 | to | 8.79 | 42174592 | 3.88 | 0.30 | to | 2.80 | 5.53 | to | 2.97 |
| 12/31/2024 | 32249758 | 1.49 | to | 8.54 | 44934386 | 3.64 | 0.30 | to | 2.80 | 0.03 | to | (2.42) |
| 12/31/2023 | 33391333 | 1.49 | to | 8.75 | 47656473 | 1.76 | 0.30 | to | 2.80 | 3.69 | to | 1.17 |
| 12/31/2022 | 34781353 | 1.44 | to | 8.65 | 49287955 | 1.06 | 0.30 | to | 2.80 | (13.29) | to | (15.39) |
| 12/31/2021 | 38359008 | 1.66 | to | 10.22 | 63545934 | 2.10 | 0.30 | to | 2.80 | (2.68) | to | (5.05) |
| TA Aegon U.S. Government Securities Service Class | TA Aegon U.S. Government Securities Service Class | TA Aegon U.S. Government Securities Service Class | TA Aegon U.S. Government Securities Service Class |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 35371915 | 10.66 | to | 8.60 | 107606218 | 3.25 | 0.20 | to | 2.80 | 5.35 | to | 2.69 |
| 12/31/2024 | 45533108 | 10.12 | to | 8.37 | 142437697 | 2.98 | 0.20 | to | 2.80 | (0.04) | to | (2.58) |
| 12/31/2023 | 60628418 | 10.12 | to | 8.60 | 205897859 | 1.39 | 0.20 | to | 2.80 | 3.48 | to | 0.87 |
| 12/31/2022 | 76151628 | 9.78 | to | 8.52 | 258621629 | 0.82 | 0.20 | to | 2.80 | (13.47) | to | (15.65) |
| 12/31/2021 | 61071608 | 11.30 | to | 10.10 | 193536432 | 1.59 | 0.20 | to | 2.80 | (2.73) | to | (5.19) |
| TA American Funds Managed Risk - Balanced Service Class | TA American Funds Managed Risk - Balanced Service Class | TA American Funds Managed Risk - Balanced Service Class | TA American Funds Managed Risk - Balanced Service Class | TA American Funds Managed Risk - Balanced Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 44634119 | 18.66 | to | 14.41 | 743637791 | 1.60 | 0.20 | to | 2.50 | 11.26 | to | 8.77 |
| 12/31/2024 | 53133659 | 16.77 | to | 13.25 | 804396471 | 1.57 | 0.20 | to | 2.50 | 14.14 | to | 11.56 |
| 12/31/2023 | 61208733 | 14.69 | to | 11.88 | 820781783 | 2.17 | 0.20 | to | 2.50 | 10.17 | to | 7.70 |
| 12/31/2022 | 67478151 | 13.33 | to | 11.03 | 830364161 | 1.50 | 0.20 | to | 2.50 | (11.60) | to | (13.58) |
| 12/31/2021 | 72975601 | 15.08 | to | 12.76 | 1026960363 | 0.88 | 0.20 | to | 2.50 | 12.85 | to | 10.32 |
| TA BlackRock Government Money Market Initial Class | TA BlackRock Government Money Market Initial Class | TA BlackRock Government Money Market Initial Class | TA BlackRock Government Money Market Initial Class |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 97912403 | 1.30 | to | 9.43 | 103859898 | 4.00 | 0.30 | to | 2.80 | 3.76 | to | 1.23 |
| 12/31/2024 | 98556242 | 1.25 | to | 9.32 | 105097637 | 4.94 | 0.30 | to | 2.80 | 4.72 | to | 2.16 |
| 12/31/2023 | 108159167 | 1.20 | to | 9.12 | 114069224 | 4.75 | 0.30 | to | 2.80 | 4.55 | to | 2.01 |
| 12/31/2022 | 110925053 | 1.14 | to | 8.94 | 114067668 | 1.44 | 0.30 | to | 2.80 | 1.10 | to | (1.35) |
| 12/31/2021 | 98643567 | 1.13 | to | 9.06 | 101398175 |  | 0.30 | to | 2.80 | (0.29) | to | (2.72) |
| TA BlackRock Government Money Market Service Class | TA BlackRock Government Money Market Service Class | TA BlackRock Government Money Market Service Class | TA BlackRock Government Money Market Service Class | TA BlackRock Government Money Market Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 116351568 | 11.47 | to | 9.37 | 411360290 | 3.75 | 0.20 | to | 2.65 | 3.60 | to | 1.13 |
| 12/31/2024 | 141166269 | 11.07 | to | 9.27 | 485229937 | 4.69 | 0.20 | to | 2.65 | 4.57 | to | 2.06 |
| 12/31/2023 | 180173519 | 10.59 | to | 9.08 | 581963174 | 4.56 | 0.20 | to | 2.65 | 4.45 | to | 1.97 |
| 12/31/2022 | 210945755 | 10.14 | to | 8.91 | 621847346 | 1.47 | 0.20 | to | 2.65 | 1.20 | to | (1.21) |
| 12/31/2021 | 172118709 | 10.02 | to | 9.02 | 503096558 |  | 0.20 | to | 2.65 | (0.20) | to | (2.58) |
| TA BlackRock iShares Active Asset Allocation - Conservative Service Class | TA BlackRock iShares Active Asset Allocation - Conservative Service Class | TA BlackRock iShares Active Asset Allocation - Conservative Service Class | TA BlackRock iShares Active Asset Allocation - Conservative Service Class | TA BlackRock iShares Active Asset Allocation - Conservative Service Class | TA BlackRock iShares Active Asset Allocation - Conservative Service Class |  |  |  |  |  |  |  |
| 12/31/2025 | 49004636 | 15.11 | to | 11.58 | 168044591 | 2.52 | 0.20 | to | 2.65 | 8.44 | to | 5.85 |
| 12/31/2024 | 57912716 | 13.94 | to | 10.94 | 184120243 | 2.21 | 0.20 | to | 2.65 | 6.26 | to | 3.71 |
| 12/31/2023 | 68586058 | 13.12 | to | 10.55 | 204995116 | 1.46 | 0.20 | to | 2.65 | 9.74 | to | 7.13 |
| 12/31/2022 | 80502058 | 11.95 | to | 9.85 | 217092082 | 1.27 | 0.20 | to | 2.65 | (15.46) | to | (17.47) |
| 12/31/2021 | 91220744 | 14.14 | to | 11.93 | 295146037 | 1.07 | 0.20 | to | 2.65 | 5.53 | to | 3.01 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| TA BlackRock iShares Active Asset Allocation - Moderate Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Service Class |  |  |  |  |  |  |  |
| 12/31/2025 | 149806710 | $15.90 | to | $12.17 | $750862207 | 2.17% | 0.20% | to | 2.65% | 9.28% | to | 6.67% |
| 12/31/2024 | 177251352 | 14.55 | to | 11.41 | 820669613 | 1.81 | 0.20 | to | 2.65 | 8.84 | to | 6.23 |
| 12/31/2023 | 204356201 | 13.37 | to | 10.74 | 869676856 | 1.48 | 0.20 | to | 2.65 | 13.14 | to | 10.45 |
| 12/31/2022 | 229368862 | 11.82 | to | 9.72 | 854204011 | 1.30 | 0.20 | to | 2.65 | (17.30) | to | (19.27) |
| 12/31/2021 | 258985643 | 14.29 | to | 12.05 | 1170053110 | 0.87 | 0.20 | to | 2.65 | 8.11 | to | 5.53 |
| TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class | TA BlackRock iShares Active Asset Allocation - Moderate Growth Service Class |  |  |  |  |  |  |  |
| 12/31/2025 | 68577192 | 16.41 | to | 12.49 | 269021056 | 1.77 | 0.20 | to | 2.65 | 10.42 | to | 7.78 |
| 12/31/2024 | 81093691 | 14.86 | to | 11.59 | 291140268 | 1.55 | 0.20 | to | 2.65 | 12.28 | to | 9.59 |
| 12/31/2023 | 94540924 | 13.24 | to | 10.58 | 305012048 | 1.38 | 0.20 | to | 2.65 | 17.39 | to | 14.59 |
| 12/31/2022 | 105711572 | 11.28 | to | 9.23 | 291832011 | 1.27 | 0.20 | to | 2.65 | (18.48) | to | (20.42) |
| 12/31/2021 | 124534990 | 13.83 | to | 11.60 | 415067378 | 0.53 | 0.20 | to | 2.65 | 7.41 | to | 4.84 |
| TA BlackRock iShares Dynamic Allocation - Balanced Service Class | TA BlackRock iShares Dynamic Allocation - Balanced Service Class | TA BlackRock iShares Dynamic Allocation - Balanced Service Class | TA BlackRock iShares Dynamic Allocation - Balanced Service Class | TA BlackRock iShares Dynamic Allocation - Balanced Service Class | TA BlackRock iShares Dynamic Allocation - Balanced Service Class |  |  |  |  |  |  |  |
| 12/31/2025 | 84544995 | 16.08 | to | 1.23 | 569436071 | 2.33 | 0.20 | to | 2.50 | 9.20 | to | 6.72 |
| 12/31/2024 | 100335645 | 14.73 | to | 1.15 | 623234628 | 1.94 | 0.20 | to | 2.50 | 8.53 | to | 6.05 |
| 12/31/2023 | 118403453 | 13.57 | to | 1.09 | 674821416 | 1.39 | 0.20 | to | 2.50 | 12.43 | to | 9.89 |
| 12/31/2022 | 137331317 | 12.07 | to | 0.99 | 695481133 | 1.14 | 0.20 | to | 2.50 | (16.06) | to | (17.96) |
| 12/31/2021 | 152615380 | 14.38 | to | 1.20 | 935484103 | 0.56 | 0.20 | to | 2.50 | 8.95 | to | 6.47 |
| TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class | TA BlackRock iShares Dynamic Allocation - Moderate Growth Service Class |  |  |  |  |  |  |  |
| 12/31/2025 | 39038641 | 18.54 | to | 1.51 | 258570524 | 1.92 | 0.20 | to | 2.50 | 10.13 | to | 7.63 |
| 12/31/2024 | 46390434 | 16.84 | to | 1.40 | 285252296 | 1.61 | 0.20 | to | 2.50 | 12.29 | to | 9.72 |
| 12/31/2023 | 54614693 | 15.00 | to | 1.28 | 302181696 | 1.28 | 0.20 | to | 2.50 | 17.04 | to | 14.39 |
| 12/31/2022 | 60523858 | 12.81 | to | 1.12 | 293945929 | 1.12 | 0.20 | to | 2.50 | (17.08) | to | (18.97) |
| 12/31/2021 | 68867990 | 15.45 | to | 1.38 | 405229493 | 0.28 | 0.20 | to | 2.50 | 14.18 | to | 11.58 |
| TA BlackRock iShares Edge 100 Service Class | TA BlackRock iShares Edge 100 Service Class | TA BlackRock iShares Edge 100 Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 3151537 | 25.75 | to | 18.91 | 73929622 | 1.44 | 0.20 | to | 2.50 | 18.30 | to | 15.65 |
| 12/31/2024 | 3408478 | 21.77 | to | 16.35 | 68296305 | 1.38 | 0.20 | to | 2.50 | 14.76 | to | 12.17 |
| 12/31/2023 | 3467968 | 18.97 | to | 14.58 | 61143111 | 1.93 | 0.20 | to | 2.50 | 14.25 | to | 11.69 |
| 12/31/2022 | 3599875 | 16.60 | to | 13.05 | 56132454 | 1.22 | 0.20 | to | 2.50 | (15.92) | to | (17.81) |
| 12/31/2021 | 3811159 | 19.75 | to | 15.88 | 71242476 | 0.94 | 0.20 | to | 2.50 | 18.12 | to | 15.47 |
| TA BlackRock iShares Edge 40 Initial Class | TA BlackRock iShares Edge 40 Initial Class | TA BlackRock iShares Edge 40 Initial Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 6630715 | 2.27 | to | 12.32 | 14423816 | 3.09 | 0.30 | to | 2.80 | 11.31 | to | 8.60 |
| 12/31/2024 | 7082352 | 2.04 | to | 11.35 | 13988477 | 2.70 | 0.30 | to | 2.80 | 6.39 | to | 3.79 |
| 12/31/2023 | 7868866 | 1.91 | to | 10.93 | 14792197 | 2.28 | 0.30 | to | 2.80 | 9.12 | to | 6.48 |
| 12/31/2022 | 8499495 | 1.75 | to | 10.27 | 14849485 | 1.88 | 0.30 | to | 2.80 | (14.50) | to | (16.57) |
| 12/31/2021 | 9030676 | 2.05 | to | 12.31 | 18704737 | 1.78 | 0.30 | to | 2.80 | 5.77 | to | 3.20 |
| TA BlackRock iShares Edge 40 Service Class | TA BlackRock iShares Edge 40 Service Class | TA BlackRock iShares Edge 40 Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 47653095 | 16.36 | to | 12.22 | 163203233 | 2.78 | 0.20 | to | 2.65 | 11.20 | to | 8.55 |
| 12/31/2024 | 55692609 | 14.71 | to | 11.26 | 171911956 | 2.43 | 0.20 | to | 2.65 | 6.26 | to | 3.71 |
| 12/31/2023 | 65038595 | 13.84 | to | 10.86 | 190887402 | 1.99 | 0.20 | to | 2.65 | 8.85 | to | 6.26 |
| 12/31/2022 | 76741941 | 12.72 | to | 10.22 | 202646475 | 1.56 | 0.20 | to | 2.65 | (14.61) | to | (16.64) |
| 12/31/2021 | 90734264 | 14.89 | to | 12.26 | 278799836 | 1.52 | 0.20 | to | 2.65 | 5.56 | to | 3.04 |
| TA BlackRock iShares Edge 50 Service Class | TA BlackRock iShares Edge 50 Service Class | TA BlackRock iShares Edge 50 Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 23621150 | 17.23 | to | 13.38 | 370981302 | 2.40 | 0.20 | to | 2.50 | 12.13 | to | 9.61 |
| 12/31/2024 | 26567256 | 15.36 | to | 12.21 | 375739965 | 2.14 | 0.20 | to | 2.50 | 7.58 | to | 5.15 |
| 12/31/2023 | 30068075 | 14.28 | to | 11.61 | 399153677 | 1.73 | 0.20 | to | 2.50 | 9.57 | to | 7.12 |
| 12/31/2022 | 32927778 | 13.03 | to | 10.84 | 402867449 | 1.31 | 0.20 | to | 2.50 | (14.65) | to | (16.57) |
| 12/31/2021 | 34207740 | 15.27 | to | 12.99 | 495078284 | 1.13 | 0.20 | to | 2.50 | 7.53 | to | 5.11 |
| TA BlackRock iShares Edge 75 Service Class | TA BlackRock iShares Edge 75 Service Class | TA BlackRock iShares Edge 75 Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 6982051 | 21.04 | to | 16.01 | 132922005 | 1.92 | 0.20 | to | 2.50 | 15.24 | to | 12.66 |
| 12/31/2024 | 7882702 | 18.26 | to | 14.21 | 131536137 | 1.86 | 0.20 | to | 2.50 | 11.17 | to | 8.66 |
| 12/31/2023 | 8896991 | 16.42 | to | 13.08 | 134912823 | 1.77 | 0.20 | to | 2.50 | 11.87 | to | 9.36 |
| 12/31/2022 | 10313033 | 14.68 | to | 11.96 | 141227812 | 1.34 | 0.20 | to | 2.50 | (15.23) | to | (17.13) |
| 12/31/2021 | 11154353 | 17.32 | to | 14.43 | 182158515 | 1.06 | 0.20 | to | 2.50 | 12.71 | to | 10.18 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| TA BlackRock iShares Tactical - Balanced Service Class | TA BlackRock iShares Tactical - Balanced Service Class | TA BlackRock iShares Tactical - Balanced Service Class | TA BlackRock iShares Tactical - Balanced Service Class |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 58331392 | $17.80 | to | $12.47 | $282268313 | 3.21% | 0.20% | to | 2.65% | 12.77% | to | 10.08% |
| 12/31/2024 | 69347535 | 15.78 | to | 11.33 | 300918251 | 3.56 | 0.20 | to | 2.65 | 8.47 | to | 5.87 |
| 12/31/2023 | 82260254 | 14.55 | to | 10.70 | 333250811 | 1.04 | 0.20 | to | 2.65 | 10.43 | to | 7.81 |
| 12/31/2022 | 92944316 | 13.17 | to | 9.93 | 345342124 | 0.55 | 0.20 | to | 2.65 | (19.81) | to | (21.73) |
| 12/31/2021 | 105269645 | 16.43 | to | 12.68 | 489372576 |  | 0.20 | to | 2.65 | 6.18 | to | 3.64 |
| TA BlackRock iShares Tactical - Conservative Service Class | TA BlackRock iShares Tactical - Conservative Service Class | TA BlackRock iShares Tactical - Conservative Service Class | TA BlackRock iShares Tactical - Conservative Service Class | TA BlackRock iShares Tactical - Conservative Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 25429085 | 16.29 | to | 11.62 | 129812607 | 3.31 | 0.20 | to | 2.65 | 10.43 | to | 7.80 |
| 12/31/2024 | 30147652 | 14.75 | to | 10.77 | 142269844 | 3.58 | 0.20 | to | 2.65 | 6.00 | to | 3.46 |
| 12/31/2023 | 35910998 | 13.92 | to | 10.41 | 161481375 | 1.22 | 0.20 | to | 2.65 | 7.02 | to | 4.47 |
| 12/31/2022 | 41071795 | 13.00 | to | 9.97 | 171599206 | 1.06 | 0.20 | to | 2.65 | (17.46) | to | (19.42) |
| 12/31/2021 | 47693615 | 15.75 | to | 12.37 | 238609962 | 1.01 | 0.20 | to | 2.65 | 4.00 | to | 1.52 |
| TA BlackRock iShares Tactical - Growth Service Class | TA BlackRock iShares Tactical - Growth Service Class | TA BlackRock iShares Tactical - Growth Service Class | TA BlackRock iShares Tactical - Growth Service Class |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 27578332 | 20.99 | to | 14.57 | 192507433 | 2.95 | 0.20 | to | 2.65 | 15.35 | to | 12.60 |
| 12/31/2024 | 32832220 | 18.20 | to | 12.94 | 202156807 | 3.57 | 0.20 | to | 2.65 | 11.43 | to | 8.76 |
| 12/31/2023 | 38954245 | 16.33 | to | 11.90 | 216586241 | 0.87 | 0.20 | to | 2.65 | 13.71 | to | 11.01 |
| 12/31/2022 | 44175615 | 14.36 | to | 10.72 | 219792873 |  | 0.20 | to | 2.65 | (18.19) | to | (20.14) |
| 12/31/2021 | 52380478 | 17.56 | to | 13.42 | 316811089 |  | 0.20 | to | 2.65 | 8.99 | to | 6.39 |
| TA BlackRock Real Estate Securities Initial Class | TA BlackRock Real Estate Securities Initial Class | TA BlackRock Real Estate Securities Initial Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 7353569 | 2.28 | to | 11.25 | 22369003 | 1.82 | 0.30 | to | 2.80 | 9.19 | to | 6.53 |
| 12/31/2024 | 7858107 | 2.08 | to | 10.56 | 22139318 | 2.17 | 0.30 | to | 2.80 | 0.95 | to | (1.52) |
| 12/31/2023 | 8434560 | 2.07 | to | 10.73 | 23618963 | 5.92 | 0.30 | to | 2.80 | 12.99 | to | 10.25 |
| 12/31/2022 | 9219510 | 1.83 | to | 9.73 | 23221304 | 3.36 | 0.30 | to | 2.80 | (28.40) | to | (30.15) |
| 12/31/2021 | 10592715 | 2.55 | to | 13.93 | 37581657 | 2.57 | 0.30 | to | 2.80 | 25.85 | to | 22.79 |
| TA BlackRock Real Estate Securities Service Class | TA BlackRock Real Estate Securities Service Class | TA BlackRock Real Estate Securities Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 12111319 | 13.83 | to | 11.18 | 60317243 | 1.42 | 0.20 | to | 2.65 | 9.10 | to | 6.50 |
| 12/31/2024 | 13623482 | 12.68 | to | 10.49 | 60493118 | 1.76 | 0.20 | to | 2.65 | 0.82 | to | (1.60) |
| 12/31/2023 | 15474501 | 12.57 | to | 10.66 | 65908004 | 5.28 | 0.20 | to | 2.65 | 12.92 | to | 10.23 |
| 12/31/2022 | 17147274 | 11.13 | to | 9.67 | 63353865 | 2.90 | 0.20 | to | 2.65 | (28.53) | to | (30.23) |
| 12/31/2021 | 18935860 | 15.58 | to | 13.87 | 96045926 | 2.14 | 0.20 | to | 2.65 | 25.60 | to | 22.60 |
| TA BlackRock Tactical Allocation Service Class | TA BlackRock Tactical Allocation Service Class | TA BlackRock Tactical Allocation Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 142882040 | 20.89 | to | 14.35 | 682707976 | 2.02 | 0.20 | to | 2.80 | 11.50 | to | 8.68 |
| 12/31/2024 | 171852939 | 18.74 | to | 13.21 | 752586021 | 1.50 | 0.20 | to | 2.80 | 12.26 | to | 9.40 |
| 12/31/2023 | 205309701 | 16.69 | to | 12.07 | 821349625 | 2.45 | 0.20 | to | 2.80 | 14.65 | to | 11.76 |
| 12/31/2022 | 235861929 | 14.56 | to | 10.80 | 838532604 | 3.63 | 0.20 | to | 2.80 | (16.38) | to | (18.49) |
| 12/31/2021 | 270119713 | 17.41 | to | 13.25 | 1153148970 | 2.45 | 0.20 | to | 2.80 | 7.42 | to | 4.70 |
| TA Goldman Sachs 70/30 Service Class | TA Goldman Sachs 70/30 Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 717972 | 18.06 | to | 16.31 | 12261380 | 1.13 | 0.20 | to | 2.00 | 17.53 | to | 15.44 |
| 12/31/2024 | 427176 | 15.37 | to | 14.13 | 6273648 | 1.26 | 0.20 | to | 2.00 | 11.93 | to | 9.92 |
| 12/31/2023 | 308297 | 13.73 | to | 12.85 | 4086431 | 1.58 | 0.20 | to | 2.00 | 16.02 | to | 13.95 |
| 12/31/2022 | 194145 | 11.83 | to | 11.28 | 2239896 | 1.96 | 0.20 | to | 2.00 | (17.27) | to | (18.74) |
| 12/31/2021 | 129421 | 14.30 | to | 13.88 | 1822679 | 1.07 | 0.20 | to | 2.00 | 12.86 | to | 10.85 |
| TA Goldman Sachs Managed Risk - Balanced ETF Service Class | TA Goldman Sachs Managed Risk - Balanced ETF Service Class | TA Goldman Sachs Managed Risk - Balanced ETF Service Class | TA Goldman Sachs Managed Risk - Balanced ETF Service Class | TA Goldman Sachs Managed Risk - Balanced ETF Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 505482219 | 18.22 | to | 13.03 | 3224033171 | 2.51 | 0.20 | to | 2.80 | 10.55 | to | 7.75 |
| 12/31/2024 | 597355411 | 16.48 | to | 12.09 | 3487626489 | 2.18 | 0.20 | to | 2.80 | 8.85 | to | 6.09 |
| 12/31/2023 | 705336234 | 15.14 | to | 11.40 | 3804945152 | 1.47 | 0.20 | to | 2.80 | 12.97 | to | 10.12 |
| 12/31/2022 | 807220285 | 13.40 | to | 10.35 | 3853036450 | 1.49 | 0.20 | to | 2.80 | (14.43) | to | (16.60) |
| 12/31/2021 | 911778849 | 15.67 | to | 12.41 | 5086400083 | 1.13 | 0.20 | to | 2.80 | 9.14 | to | 6.38 |
| TA Goldman Sachs Managed Risk - Conservative ETF Service Class | TA Goldman Sachs Managed Risk - Conservative ETF Service Class | TA Goldman Sachs Managed Risk - Conservative ETF Service Class | TA Goldman Sachs Managed Risk - Conservative ETF Service Class | TA Goldman Sachs Managed Risk - Conservative ETF Service Class | TA Goldman Sachs Managed Risk - Conservative ETF Service Class |  |  |  |  |  |  |  |
| 12/31/2025 | 88725901 | 16.09 | to | 11.57 | 343588028 | 2.77 | 0.20 | to | 2.80 | 9.85 | to | 7.07 |
| 12/31/2024 | 104615436 | 14.65 | to | 10.81 | 371166097 | 2.43 | 0.20 | to | 2.80 | 6.48 | to | 3.77 |
| 12/31/2023 | 123760034 | 13.76 | to | 10.42 | 417072948 | 1.76 | 0.20 | to | 2.80 | 10.37 | to | 7.59 |
| 12/31/2022 | 142276449 | 12.47 | to | 9.68 | 437958614 | 1.60 | 0.20 | to | 2.80 | (12.00) | to | (14.23) |
| 12/31/2021 | 163346521 | 14.17 | to | 11.29 | 576424580 | 1.56 | 0.20 | to | 2.80 | 2.55 | to | (0.04) |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| TA Goldman Sachs Managed Risk - Growth ETF Service Class | TA Goldman Sachs Managed Risk - Growth ETF Service Class | TA Goldman Sachs Managed Risk - Growth ETF Service Class | TA Goldman Sachs Managed Risk - Growth ETF Service Class | TA Goldman Sachs Managed Risk - Growth ETF Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 304451735 | $22.41 | to | $15.49 | $1481101628 | 1.90% | 0.20% | to | 2.80% | 12.05% | to | 9.22% |
| 12/31/2024 | 364337317 | 20.00 | to | 14.18 | 1609880856 | 1.79 | 0.20 | to | 2.80 | 13.00 | to | 10.13 |
| 12/31/2023 | 431747039 | 17.70 | to | 12.88 | 1719739409 | 1.43 | 0.20 | to | 2.80 | 17.44 | to | 14.48 |
| 12/31/2022 | 492920874 | 15.07 | to | 11.25 | 1689317039 | 1.40 | 0.20 | to | 2.80 | (14.69) | to | (16.84) |
| 12/31/2021 | 554160883 | 17.67 | to | 13.53 | 2218534421 | 0.88 | 0.20 | to | 2.80 | 13.82 | to | 10.94 |
| TA Great Lakes Advisors Large Cap Value Service Class | TA Great Lakes Advisors Large Cap Value Service Class | TA Great Lakes Advisors Large Cap Value Service Class | TA Great Lakes Advisors Large Cap Value Service Class |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 5699433 | 20.41 | to | 17.15 | 75766432 | 0.81 | 0.20 | to | 2.50 | 23.40 | to | 20.64 |
| 12/31/2024 | 6280483 | 16.54 | to | 14.21 | 63642529 | 0.89 | 0.20 | to | 2.50 | 16.59 | to | 13.96 |
| 12/31/2023 | 6230632 | 14.19 | to | 12.47 | 53852977 | 0.88 | 0.20 | to | 2.50 | 12.56 | to | 10.04 |
| 12/31/2022 | 7406148 | 12.60 | to | 11.34 | 51430920 | 0.29 | 0.20 | to | 2.50 | (7.57) | to | (9.64) |
| 12/31/2021 | 5761773 | 13.63 | to | 12.54 | 43772055 | 0.77 | 0.20 | to | 2.50 | 30.30 | to | 27.38 |
| TA International Focus Initial Class | TA International Focus Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 25936901 | 2.65 | to | 13.30 | 53155006 | 1.72 | 0.30 | to | 2.80 | 6.16 | to | 3.57 |
| 12/31/2024 | 27360881 | 2.50 | to | 12.84 | 53654072 | 2.30 | 0.30 | to | 2.80 | (1.35) | to | (3.76) |
| 12/31/2023 | 29055745 | 2.54 | to | 13.34 | 58522612 | 1.99 | 0.30 | to | 2.80 | 12.20 | to | 9.48 |
| 12/31/2022 | 31212746 | 2.26 | to | 12.19 | 56973368 | 2.97 | 0.30 | to | 2.80 | (20.28) | to | (22.22) |
| 12/31/2021 | 34020753 | 2.83 | to | 15.67 | 78746427 | 1.24 | 0.30 | to | 2.80 | 10.49 | to | 7.80 |
| TA International Focus Service Class | TA International Focus Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 10472945 | 16.67 | to | 13.17 | 76544752 | 1.47 | 0.20 | to | 2.65 | 6.02 | to | 3.49 |
| 12/31/2024 | 12151674 | 15.72 | to | 12.72 | 80928770 | 2.11 | 0.20 | to | 2.65 | (1.52) | to | (3.89) |
| 12/31/2023 | 13632374 | 15.96 | to | 13.24 | 87960039 | 1.75 | 0.20 | to | 2.65 | 12.05 | to | 9.38 |
| 12/31/2022 | 15318384 | 14.25 | to | 12.10 | 88745241 | 2.75 | 0.20 | to | 2.65 | (20.45) | to | (22.35) |
| 12/31/2021 | 16691452 | 17.91 | to | 15.59 | 123852336 | 1.04 | 0.20 | to | 2.65 | 10.41 | to | 7.77 |
| TA Janus Balanced Service Class | TA Janus Balanced Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 81530981 | 28.13 | to | 18.34 | 728731935 | 1.86 | 0.20 | to | 2.65 | 13.24 | to | 10.54 |
| 12/31/2024 | 99246021 | 24.84 | to | 16.60 | 792567560 | 1.69 | 0.20 | to | 2.65 | 14.62 | to | 11.87 |
| 12/31/2023 | 118324209 | 21.67 | to | 14.83 | 829945620 | 1.13 | 0.20 | to | 2.65 | 14.79 | to | 12.05 |
| 12/31/2022 | 132159399 | 18.88 | to | 13.24 | 820625445 | 0.83 | 0.20 | to | 2.65 | (16.93) | to | (18.91) |
| 12/31/2021 | 153039404 | 22.73 | to | 16.33 | 1132349414 | 1.12 | 0.20 | to | 2.65 | 15.21 | to | 12.46 |
| TA Janus Mid-Cap Growth Initial Class | TA Janus Mid-Cap Growth Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 18708161 | 5.83 | to | 22.55 | 65176772 | 0.01 | 0.30 | to | 2.80 | 7.79 | to | 5.17 |
| 12/31/2024 | 19769469 | 5.41 | to | 21.44 | 64485861 | 0.13 | 0.30 | to | 2.80 | 14.04 | to | 11.25 |
| 12/31/2023 | 22651450 | 4.74 | to | 19.27 | 65869315 |  | 0.30 | to | 2.80 | 16.69 | to | 13.87 |
| 12/31/2022 | 24063853 | 4.06 | to | 16.92 | 60568907 |  | 0.30 | to | 2.80 | (16.96) | to | (18.98) |
| 12/31/2021 | 26868733 | 4.89 | to | 20.89 | 82603363 | 0.27 | 0.30 | to | 2.80 | 16.95 | to | 14.10 |
| TA Janus Mid-Cap Growth Service Class | TA Janus Mid-Cap Growth Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 11160712 | 31.31 | to | 22.34 | 186538189 |  | 0.20 | to | 2.65 | 7.63 | to | 5.07 |
| 12/31/2024 | 12728662 | 29.09 | to | 21.26 | 186713294 |  | 0.20 | to | 2.65 | 13.84 | to | 11.11 |
| 12/31/2023 | 14077641 | 25.55 | to | 19.14 | 174973421 |  | 0.20 | to | 2.65 | 16.57 | to | 13.80 |
| 12/31/2022 | 15395879 | 21.92 | to | 16.82 | 157131166 |  | 0.20 | to | 2.65 | (17.10) | to | (19.08) |
| 12/31/2021 | 17742369 | 26.44 | to | 20.78 | 217859738 | 0.10 | 0.20 | to | 2.65 | 16.76 | to | 13.97 |
| TA JPMorgan Asset Allocation - Conservative Initial Class | TA JPMorgan Asset Allocation - Conservative Initial Class | TA JPMorgan Asset Allocation - Conservative Initial Class | TA JPMorgan Asset Allocation - Conservative Initial Class | TA JPMorgan Asset Allocation - Conservative Initial Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 47321900 | 2.34 | to | 12.04 | 101539926 | 3.95 | 0.30 | to | 2.80 | 10.30 | to | 7.61 |
| 12/31/2024 | 52016413 | 2.12 | to | 11.19 | 102549467 | 2.02 | 0.30 | to | 2.80 | 5.40 | to | 2.82 |
| 12/31/2023 | 56487638 | 2.01 | to | 10.88 | 106961227 | 2.29 | 0.30 | to | 2.80 | 6.73 | to | 4.14 |
| 12/31/2022 | 61620368 | 1.89 | to | 10.45 | 110777412 | 5.55 | 0.30 | to | 2.80 | (15.61) | to | (17.66) |
| 12/31/2021 | 68625564 | 2.24 | to | 12.69 | 148147123 | 2.49 | 0.30 | to | 2.80 | 5.58 | to | 3.02 |
| TA JPMorgan Asset Allocation - Conservative Service Class | TA JPMorgan Asset Allocation - Conservative Service Class | TA JPMorgan Asset Allocation - Conservative Service Class | TA JPMorgan Asset Allocation - Conservative Service Class | TA JPMorgan Asset Allocation - Conservative Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 135727067 | 16.05 | to | 11.93 | 501209926 | 3.71 | 0.20 | to | 2.65 | 10.13 | to | 7.51 |
| 12/31/2024 | 163052356 | 14.57 | to | 11.10 | 545526815 | 1.76 | 0.20 | to | 2.65 | 5.31 | to | 2.78 |
| 12/31/2023 | 191784502 | 13.84 | to | 10.80 | 613717801 | 1.97 | 0.20 | to | 2.65 | 6.62 | to | 4.08 |
| 12/31/2022 | 224397985 | 12.98 | to | 10.37 | 674855947 | 5.30 | 0.20 | to | 2.65 | (15.77) | to | (17.78) |
| 12/31/2021 | 261747697 | 15.41 | to | 12.62 | 927848971 | 2.18 | 0.20 | to | 2.65 | 5.42 | to | 2.90 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| TA JPMorgan Asset Allocation - Moderate Initial Class | TA JPMorgan Asset Allocation - Moderate Initial Class | TA JPMorgan Asset Allocation - Moderate Initial Class | TA JPMorgan Asset Allocation - Moderate Initial Class |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 97606246 | $2.79 | to | $13.62 | $250142052 | 3.31% | 0.30% | to | 2.80% | 11.56% | to | 8.85% |
| 12/31/2024 | 106094265 | 2.50 | to | 12.51 | 247279731 | 1.59 | 0.30 | to | 2.80 | 7.70 | to | 5.06 |
| 12/31/2023 | 114464373 | 2.32 | to | 11.91 | 251588954 | 2.09 | 0.30 | to | 2.80 | 8.78 | to | 6.14 |
| 12/31/2022 | 122274778 | 2.14 | to | 11.22 | 250311461 | 5.23 | 0.30 | to | 2.80 | (16.33) | to | (18.36) |
| 12/31/2021 | 136563569 | 2.55 | to | 13.74 | 338721084 | 1.91 | 0.30 | to | 2.80 | 8.85 | to | 6.21 |
| TA JPMorgan Asset Allocation - Moderate Service Class | TA JPMorgan Asset Allocation - Moderate Service Class | TA JPMorgan Asset Allocation - Moderate Service Class | TA JPMorgan Asset Allocation - Moderate Service Class | TA JPMorgan Asset Allocation - Moderate Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 646292689 | 18.77 | to | 13.48 | 3887070354 | 3.06 | 0.20 | to | 2.65 | 11.31 | to | 8.66 |
| 12/31/2024 | 762220255 | 16.86 | to | 12.41 | 4113122303 | 1.34 | 0.20 | to | 2.65 | 7.48 | to | 4.90 |
| 12/31/2023 | 890382625 | 15.69 | to | 11.83 | 4423308426 | 1.83 | 0.20 | to | 2.65 | 8.64 | to | 6.05 |
| 12/31/2022 | 1012694240 | 14.44 | to | 11.15 | 4582904477 | 5.06 | 0.20 | to | 2.65 | (16.42) | to | (18.41) |
| 12/31/2021 | 1144562296 | 17.27 | to | 13.67 | 6100877248 | 1.70 | 0.20 | to | 2.65 | 8.71 | to | 6.12 |
| TA JPMorgan Asset Allocation - Moderate Growth Initial Class | TA JPMorgan Asset Allocation - Moderate Growth Initial Class | TA JPMorgan Asset Allocation - Moderate Growth Initial Class | TA JPMorgan Asset Allocation - Moderate Growth Initial Class | TA JPMorgan Asset Allocation - Moderate Growth Initial Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 115210587 | 3.29 | to | 15.85 | 358579202 | 2.70 | 0.30 | to | 2.80 | 12.79 | to | 10.05 |
| 12/31/2024 | 128370190 | 2.91 | to | 14.40 | 358547219 | 1.21 | 0.30 | to | 2.80 | 10.71 | to | 8.01 |
| 12/31/2023 | 143190859 | 2.63 | to | 13.33 | 366205798 | 1.97 | 0.30 | to | 2.80 | 11.88 | to | 9.17 |
| 12/31/2022 | 156859849 | 2.35 | to | 12.21 | 362843518 | 5.31 | 0.30 | to | 2.80 | (17.60) | to | (19.60) |
| 12/31/2021 | 171255655 | 2.85 | to | 15.19 | 487440782 | 2.18 | 0.30 | to | 2.80 | 13.61 | to | 10.84 |
| TA JPMorgan Asset Allocation - Moderate Growth Service Class | TA JPMorgan Asset Allocation - Moderate Growth Service Class | TA JPMorgan Asset Allocation - Moderate Growth Service Class | TA JPMorgan Asset Allocation - Moderate Growth Service Class | TA JPMorgan Asset Allocation - Moderate Growth Service Class | TA JPMorgan Asset Allocation - Moderate Growth Service Class |  |  |  |  |  |  |  |
| 12/31/2025 | 451491732 | 22.84 | to | 15.70 | 1972997444 | 2.45 | 0.20 | to | 2.65 | 12.62 | to | 9.93 |
| 12/31/2024 | 535520369 | 20.28 | to | 14.28 | 2128713066 | 0.96 | 0.20 | to | 2.65 | 10.48 | to | 7.83 |
| 12/31/2023 | 628743570 | 18.36 | to | 13.24 | 2308388180 | 1.72 | 0.20 | to | 2.65 | 11.71 | to | 9.05 |
| 12/31/2022 | 725895241 | 16.43 | to | 12.14 | 2406528834 | 5.11 | 0.20 | to | 2.65 | (17.69) | to | (19.65) |
| 12/31/2021 | 822991778 | 19.96 | to | 15.11 | 3313249689 | 1.94 | 0.20 | to | 2.65 | 13.48 | to | 10.77 |
| TA JPMorgan Diversified Equity Allocation Initial Class | TA JPMorgan Diversified Equity Allocation Initial Class | TA JPMorgan Diversified Equity Allocation Initial Class | TA JPMorgan Diversified Equity Allocation Initial Class |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 60227351 | 4.34 | to | 21.12 | 251474673 | 1.46 | 0.30 | to | 2.80 | 19.10 | to | 16.20 |
| 12/31/2024 | 67361747 | 3.64 | to | 18.17 | 239653946 | 1.33 | 0.30 | to | 2.80 | 16.02 | to | 13.19 |
| 12/31/2023 | 72743188 | 3.14 | to | 16.05 | 225809768 | 1.72 | 0.30 | to | 2.80 | 19.98 | to | 17.07 |
| 12/31/2022 | 77321212 | 2.62 | to | 13.71 | 202466102 | 5.94 | 0.30 | to | 2.80 | (22.80) | to | (24.67) |
| 12/31/2021 | 84810742 | 3.39 | to | 18.21 | 291759374 | 1.69 | 0.30 | to | 2.80 | 19.28 | to | 16.38 |
| TA JPMorgan Diversified Equity Allocation Service Class | TA JPMorgan Diversified Equity Allocation Service Class | TA JPMorgan Diversified Equity Allocation Service Class | TA JPMorgan Diversified Equity Allocation Service Class | TA JPMorgan Diversified Equity Allocation Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 26764774 | 31.72 | to | 20.90 | 238592088 | 1.24 | 0.20 | to | 2.65 | 18.82 | to | 15.99 |
| 12/31/2024 | 32519299 | 26.69 | to | 18.02 | 231556982 | 1.13 | 0.20 | to | 2.65 | 15.86 | to | 13.08 |
| 12/31/2023 | 35529741 | 23.04 | to | 15.94 | 217776216 | 1.49 | 0.20 | to | 2.65 | 19.76 | to | 16.92 |
| 12/31/2022 | 39068035 | 19.24 | to | 13.63 | 198045724 | 5.78 | 0.20 | to | 2.65 | (22.89) | to | (24.73) |
| 12/31/2021 | 43761584 | 24.95 | to | 18.11 | 277338674 | 1.48 | 0.20 | to | 2.65 | 19.11 | to | 16.27 |
| TA JPMorgan Enhanced Index Initial Class | TA JPMorgan Enhanced Index Initial Class | TA JPMorgan Enhanced Index Initial Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 24314141 | 7.44 | to | 27.04 | 169029961 | 0.70 | 0.30 | to | 2.80 | 15.87 | to | 13.05 |
| 12/31/2024 | 25602460 | 6.42 | to | 23.92 | 154998247 | 0.66 | 0.30 | to | 2.80 | 23.86 | to | 20.83 |
| 12/31/2023 | 27270068 | 5.19 | to | 19.79 | 136224374 | 0.81 | 0.30 | to | 2.80 | 27.28 | to | 24.20 |
| 12/31/2022 | 28882906 | 4.07 | to | 15.94 | 114567030 | 0.67 | 0.30 | to | 2.80 | (18.59) | to | (20.57) |
| 12/31/2021 | 30932676 | 5.00 | to | 20.07 | 152720740 | 0.78 | 0.30 | to | 2.80 | 29.73 | to | 26.58 |
| TA JPMorgan Enhanced Index Service Class | TA JPMorgan Enhanced Index Service Class | TA JPMorgan Enhanced Index Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 5422257 | 48.79 | to | 26.78 | 150434870 | 0.50 | 0.20 | to | 2.65 | 15.67 | to | 12.91 |
| 12/31/2024 | 5997092 | 42.18 | to | 23.72 | 139419849 | 0.47 | 0.20 | to | 2.65 | 23.65 | to | 20.69 |
| 12/31/2023 | 6399004 | 34.11 | to | 19.65 | 113074541 | 0.60 | 0.20 | to | 2.65 | 27.14 | to | 24.11 |
| 12/31/2022 | 6768853 | 26.83 | to | 15.83 | 90422301 | 0.40 | 0.20 | to | 2.65 | (18.71) | to | (20.65) |
| 12/31/2021 | 7586839 | 33.01 | to | 19.95 | 120395636 | 0.59 | 0.20 | to | 2.65 | 29.53 | to | 26.44 |
| TA JPMorgan International Moderate Growth Initial Class | TA JPMorgan International Moderate Growth Initial Class | TA JPMorgan International Moderate Growth Initial Class | TA JPMorgan International Moderate Growth Initial Class | TA JPMorgan International Moderate Growth Initial Class |  |  |  |  |  |  |  |  |
| 12/31/2025 |  | 1.98 | to | 13.72 |  |  | 0.30 | to | 2.50 | 17.66 | to | 15.14 |
| 12/31/2024 | 68935 | 1.68 | to | 11.91 | 112599 | 2.43 | 0.30 | to | 2.50 | 1.73 | to | (0.47) |
| 12/31/2023 | 67831 | 1.65 | to | 11.97 | 109080 | 1.63 | 0.30 | to | 2.50 | 8.84 | to | 6.51 |
| 12/31/2022 | 68775 | 1.52 | to | 11.24 | 101768 | 5.18 | 0.30 | to | 2.50 | (17.53) | to | (19.30) |
| 12/31/2021 | 68180 | 1.84 | to | 13.92 | 122510 | 1.52 | 0.30 | to | 2.50 | 8.92 | to | 6.59 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| TA JPMorgan International Moderate Growth Service Class | TA JPMorgan International Moderate Growth Service Class | TA JPMorgan International Moderate Growth Service Class | TA JPMorgan International Moderate Growth Service Class | TA JPMorgan International Moderate Growth Service Class |  |  |  |  |  |  |  |  |
| 12/31/2025 | 110374473 | $17.14 | to | $13.22 | $300105432 | 3.08% | 0.20% | to | 2.80% | 17.43% | to | 14.46% |
| 12/31/2024 | 130009345 | 14.60 | to | 11.55 | 304809793 | 2.09 | 0.20 | to | 2.80 | 1.69 | to | (0.90) |
| 12/31/2023 | 150392538 | 14.35 | to | 11.66 | 353188989 | 1.33 | 0.20 | to | 2.80 | 8.48 | to | 5.75 |
| 12/31/2022 | 173451373 | 13.23 | to | 11.02 | 377974105 | 4.74 | 0.20 | to | 2.80 | (17.59) | to | (19.67) |
| 12/31/2021 | 197465613 | 16.05 | to | 13.72 | 526796115 | 1.29 | 0.20 | to | 2.80 | 8.79 | to | 6.04 |
| TA JPMorgan Tactical Allocation Service Class | TA JPMorgan Tactical Allocation Service Class | TA JPMorgan Tactical Allocation Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 119783509 | 15.64 | to | 11.39 | 742379927 | 2.82 | 0.20 | to | 2.65 | 8.61 | to | 6.02 |
| 12/31/2024 | 142141496 | 14.40 | to | 10.74 | 806124158 | 2.32 | 0.20 | to | 2.65 | 3.87 | to | 1.38 |
| 12/31/2023 | 166578106 | 13.86 | to | 10.59 | 905816088 | 1.52 | 0.20 | to | 2.65 | 8.35 | to | 5.77 |
| 12/31/2022 | 189154578 | 12.79 | to | 10.02 | 943736725 | 1.52 | 0.20 | to | 2.65 | (15.20) | to | (17.22) |
| 12/31/2021 | 213240216 | 15.08 | to | 12.10 | 1248715111 | 1.51 | 0.20 | to | 2.65 | 4.42 | to | 1.93 |
| TA Madison Diversified Income Service Class | TA Madison Diversified Income Service Class | TA Madison Diversified Income Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 19822636 | 16.48 | to | 11.84 | 101660591 | 2.70 | 0.20 | to | 2.50 | 7.00 | to | 4.60 |
| 12/31/2024 | 22820095 | 15.40 | to | 11.32 | 108108472 | 2.49 | 0.20 | to | 2.50 | 3.26 | to | 0.93 |
| 12/31/2023 | 26990453 | 14.91 | to | 11.22 | 123863084 | 1.97 | 0.20 | to | 2.50 | 3.76 | to | 1.44 |
| 12/31/2022 | 32160966 | 14.37 | to | 11.06 | 137324787 | 1.64 | 0.20 | to | 2.50 | (10.56) | to | (12.57) |
| 12/31/2021 | 35589407 | 16.07 | to | 12.65 | 169105407 | 1.50 | 0.20 | to | 2.50 | 7.65 | to | 5.24 |
| TA Market Participation Strategy Service Class | TA Market Participation Strategy Service Class | TA Market Participation Strategy Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 33676487 | 24.30 | to | 16.68 | 256950453 | 1.24 | 0.20 | to | 2.50 | 9.80 | to | 7.34 |
| 12/31/2024 | 39853535 | 22.13 | to | 15.54 | 283247749 | 1.50 | 0.20 | to | 2.50 | 14.70 | to | 12.12 |
| 12/31/2023 | 47725398 | 19.29 | to | 13.86 | 301574446 | 0.40 | 0.20 | to | 2.50 | 11.33 | to | 8.84 |
| 12/31/2022 | 53929847 | 17.33 | to | 12.74 | 312480977 | 0.03 | 0.20 | to | 2.50 | (15.47) | to | (17.37) |
| 12/31/2021 | 61507455 | 20.50 | to | 15.41 | 426246408 | 0.49 | 0.20 | to | 2.50 | 14.22 | to | 11.66 |
| TA Morgan Stanley Global Allocation Service Class | TA Morgan Stanley Global Allocation Service Class | TA Morgan Stanley Global Allocation Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 164520778 | 20.36 | to | 14.62 | 661770172 | 5.96 | 0.20 | to | 2.65 | 17.28 | to | 14.48 |
| 12/31/2024 | 196913083 | 17.36 | to | 12.77 | 688403416 | 4.55 | 0.20 | to | 2.65 | 6.65 | to | 4.09 |
| 12/31/2023 | 232865808 | 16.28 | to | 12.27 | 774704522 |  | 0.20 | to | 2.65 | 13.46 | to | 10.76 |
| 12/31/2022 | 270061762 | 14.35 | to | 11.08 | 801306383 | 0.08 | 0.20 | to | 2.65 | (17.93) | to | (19.88) |
| 12/31/2021 | 308465105 | 17.48 | to | 13.83 | 1114949967 | 0.48 | 0.20 | to | 2.65 | 7.96 | to | 5.39 |
| TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class | TA Morgan Stanley Global Allocation Managed Risk - Balanced Service Class |  |  |  |  |  |  |  |
| 12/31/2025 | 14364112 | 13.94 | to | 11.56 | 178260333 | 11.32 | 0.20 | to | 2.50 | 13.99 | to | 11.43 |
| 12/31/2024 | 17082652 | 12.23 | to | 10.37 | 188168206 |  | 0.20 | to | 2.50 | 4.85 | to | 2.48 |
| 12/31/2023 | 19582608 | 11.66 | to | 10.12 | 207865302 | 18.86 | 0.20 | to | 2.50 | 8.79 | to | 6.35 |
| 12/31/2022 | 21608676 | 10.72 | to | 9.52 | 213130058 | 15.04 | 0.20 | to | 2.50 | (16.39) | to | (18.27) |
| 12/31/2021 | 23764763 | 12.82 | to | 11.64 | 283342932 | 5.17 | 0.20 | to | 2.50 | 6.96 | to | 4.57 |
| TA MSCI EAFE Index Service Class | TA MSCI EAFE Index Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 6223807 | 18.24 | to | 14.98 | 103891599 | 2.11 | 0.35 | to | 2.65 | 30.47 | to | 27.55 |
| 12/31/2024 | 5763966 | 13.98 | to | 11.75 | 74533906 | 2.41 | 0.35 | to | 2.65 | 2.79 | to | 0.47 |
| 12/31/2023 | 4983030 | 13.60 | to | 11.69 | 63337424 | 2.32 | 0.35 | to | 2.65 | 17.05 | to | 14.43 |
| 12/31/2022 | 4899054 | 11.62 | to | 10.22 | 53843555 | 2.93 | 0.35 | to | 2.65 | (14.75) | to | (16.65) |
| 12/31/2021 | 4875589 | 13.63 | to | 12.26 | 63434579 | 1.48 | 0.35 | to | 2.65 | 10.56 | to | 8.09 |
| TA Multi-Managed Balanced Initial Class | TA Multi-Managed Balanced Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 20665299 | 4.94 | to | 18.20 | 94274667 | 2.09 | 0.30 | to | 2.80 | 12.72 | to | 9.98 |
| 12/31/2024 | 22540752 | 4.38 | to | 16.55 | 92302196 | 1.94 | 0.30 | to | 2.80 | 14.59 | to | 11.79 |
| 12/31/2023 | 24814436 | 3.82 | to | 14.81 | 89828718 | 1.61 | 0.30 | to | 2.80 | 18.37 | to | 15.50 |
| 12/31/2022 | 25346787 | 3.23 | to | 12.82 | 78313346 | 1.17 | 0.30 | to | 2.80 | (16.53) | to | (18.56) |
| 12/31/2021 | 27725298 | 3.87 | to | 15.74 | 103782711 | 1.15 | 0.30 | to | 2.80 | 16.69 | to | 13.85 |
| TA Multi-Managed Balanced Service Class | TA Multi-Managed Balanced Service Class | TA Multi-Managed Balanced Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 82996121 | 28.88 | to | 18.03 | 875330331 | 1.86 | 0.20 | to | 2.65 | 12.50 | to | 9.82 |
| 12/31/2024 | 100284431 | 25.67 | to | 16.42 | 966147178 | 1.69 | 0.20 | to | 2.65 | 14.41 | to | 11.67 |
| 12/31/2023 | 120743587 | 22.44 | to | 14.70 | 1057526501 | 1.33 | 0.20 | to | 2.65 | 18.20 | to | 15.39 |
| 12/31/2022 | 140779682 | 18.98 | to | 12.74 | 1047886498 | 0.91 | 0.20 | to | 2.65 | (16.66) | to | (18.64) |
| 12/31/2021 | 157878316 | 22.77 | to | 15.66 | 1423573591 | 0.95 | 0.20 | to | 2.65 | 16.56 | to | 13.78 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| TA PineBridge Inflation Opportunities Service Class | TA PineBridge Inflation Opportunities Service Class | TA PineBridge Inflation Opportunities Service Class | TA PineBridge Inflation Opportunities Service Class |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 30924621 | $11.35 | to | $9.99 | $78512836 | 3.27% | 0.20% | to | 2.65% | 5.14% | to | 2.63% |
| 12/31/2024 | 37141634 | 10.79 | to | 9.73 | 90617551 | 3.32 | 0.20 | to | 2.65 | 1.62 | to | (0.82) |
| 12/31/2023 | 45699541 | 10.62 | to | 9.81 | 112871493 | 5.27 | 0.20 | to | 2.65 | 5.23 | to | 2.73 |
| 12/31/2022 | 53228378 | 10.09 | to | 9.55 | 131701424 | 3.75 | 0.20 | to | 2.65 | (10.73) | to | (12.86) |
| 12/31/2021 | 58881898 | 11.31 | to | 10.96 | 150647481 | 1.17 | 0.20 | to | 2.65 | 3.65 | to | 1.18 |
| TA ProFunds UltraBear Service Class (OAM) | TA ProFunds UltraBear Service Class (OAM) | TA ProFunds UltraBear Service Class (OAM) |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 1340128 | 6.72 | to | 6.58 | 8878563 | 2.45 | 0.45 | to | 2.00 | (27.93) | to | (29.03) |
| 12/31/2024 | 51083774 | 9.32 | to | 9.27 | 10252417 | 2.57 | 0.45 | to | 2.00 |  | to |  |
| TA S&P 500 Index Initial Class | TA S&P 500 Index Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 1801364 | 17.29 | to | 15.89 | 19466057 | 0.95 | 0.17 | to | 2.50 | 17.45 | to | 14.78 |
| 12/31/2024 | 883218 | 14.72 | to | 13.84 | 12966233 | 1.06 | 0.17 | to | 2.50 | 24.61 | to | 21.76 |
| 12/31/2023 | 146427 | 11.81 | to | 11.37 | 1726833 | 1.05 | 0.17 | to | 2.50 | 25.88 | to | 23.02 |
| 12/31/2022<sup>(1)</sup> | 66738 | 9.38 | to | 9.24 | 625896 | 1.24 | 0.17 | to | 2.50 |  | to |  |
| TA S&P 500 Index Service Class | TA S&P 500 Index Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 31979561 | 30.95 | to | 25.43 | 905867418 | 0.73 | 0.35 | to | 2.65 | 16.96 | to | 14.34 |
| 12/31/2024 | 29566724 | 26.46 | to | 22.24 | 723485984 | 0.78 | 0.35 | to | 2.65 | 24.11 | to | 21.31 |
| 12/31/2023 | 24637916 | 21.32 | to | 18.33 | 490582631 | 0.97 | 0.35 | to | 2.65 | 25.30 | to | 22.50 |
| 12/31/2022 | 22165992 | 17.02 | to | 14.96 | 356036035 | 0.95 | 0.35 | to | 2.65 | (18.72) | to | (20.54) |
| 12/31/2021 | 22144759 | 20.94 | to | 18.83 | 442108663 | 0.82 | 0.35 | to | 2.65 | 27.69 | to | 24.83 |
| TA Small/Mid Cap Value Initial Class | TA Small/Mid Cap Value Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 8578949 | 4.81 | to | 16.16 | 83444556 | 1.24 | 0.30 | to | 2.80 | 9.48 | to | 6.82 |
| 12/31/2024 | 9419247 | 4.39 | to | 15.13 | 84655470 | 0.93 | 0.30 | to | 2.80 | 8.53 | to | 5.88 |
| 12/31/2023 | 10492387 | 4.05 | to | 14.29 | 88584896 | 1.05 | 0.30 | to | 2.80 | 12.06 | to | 9.34 |
| 12/31/2022 | 11601332 | 3.61 | to | 13.07 | 88179355 | 0.59 | 0.30 | to | 2.80 | (8.58) | to | (10.80) |
| 12/31/2021 | 13197822 | 3.95 | to | 14.65 | 109376817 | 0.65 | 0.30 | to | 2.80 | 27.74 | to | 24.64 |
| TA Small/Mid Cap Value Service Class | TA Small/Mid Cap Value Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 13964519 | 29.56 | to | 16.01 | 181431188 | 1.05 | 0.20 | to | 2.65 | 9.29 | to | 6.69 |
| 12/31/2024 | 15781524 | 27.05 | to | 15.00 | 180829221 | 0.75 | 0.20 | to | 2.65 | 8.34 | to | 5.75 |
| 12/31/2023 | 17657069 | 24.97 | to | 14.19 | 177182928 | 0.83 | 0.20 | to | 2.65 | 11.93 | to | 9.26 |
| 12/31/2022 | 19264915 | 22.31 | to | 12.98 | 166821675 | 0.33 | 0.20 | to | 2.65 | (8.71) | to | (10.89) |
| 12/31/2021 | 21985473 | 24.44 | to | 14.57 | 206377951 | 0.50 | 0.20 | to | 2.65 | 27.56 | to | 24.52 |
| TA T. Rowe Price Small Cap Initial Class | TA T. Rowe Price Small Cap Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 20049814 | 6.58 | to | 18.71 | 101340174 |  | 0.30 | to | 2.80 | 9.94 | to | 7.27 |
| 12/31/2024 | 22276514 | 5.99 | to | 17.44 | 103423099 |  | 0.30 | to | 2.80 | 12.44 | to | 9.69 |
| 12/31/2023 | 25171218 | 5.32 | to | 15.90 | 104976029 |  | 0.30 | to | 2.80 | 20.84 | to | 17.91 |
| 12/31/2022 | 26666444 | 4.41 | to | 13.49 | 93280357 |  | 0.30 | to | 2.80 | (22.62) | to | (24.50) |
| 12/31/2021 | 29162918 | 5.69 | to | 17.86 | 134105176 |  | 0.30 | to | 2.80 | 11.04 | to | 8.34 |
| TA T. Rowe Price Small Cap Service Class | TA T. Rowe Price Small Cap Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 17959130 | 35.33 | to | 18.53 | 357258738 |  | 0.20 | to | 2.65 | 9.72 | to | 7.10 |
| 12/31/2024 | 20222145 | 32.20 | to | 17.31 | 348760461 |  | 0.20 | to | 2.65 | 12.38 | to | 9.69 |
| 12/31/2023 | 22191634 | 28.65 | to | 15.78 | 329615518 |  | 0.20 | to | 2.65 | 20.64 | to | 17.77 |
| 12/31/2022 | 24202320 | 23.75 | to | 13.40 | 290913475 |  | 0.20 | to | 2.65 | (22.75) | to | (24.60) |
| 12/31/2021 | 26971176 | 30.75 | to | 17.77 | 416959652 |  | 0.20 | to | 2.65 | 10.86 | to | 8.21 |
| TA TSW International Equity Initial Class | TA TSW International Equity Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 24344780 | 2.97 | to | 15.99 | 74392701 | 2.24 | 0.30 | to | 2.80 | 31.47 | to | 28.27 |
| 12/31/2024 | 26715316 | 2.26 | to | 12.47 | 63169262 | 2.91 | 0.30 | to | 2.80 | 3.07 | to | 0.55 |
| 12/31/2023 | 29017224 | 2.19 | to | 12.40 | 67677253 | 1.09 | 0.30 | to | 2.80 | 15.13 | to | 12.34 |
| 12/31/2022 | 30412058 | 1.90 | to | 11.04 | 62144473 | 3.35 | 0.30 | to | 2.80 | (14.66) | to | (16.73) |
| 12/31/2021 | 32805628 | 2.23 | to | 13.25 | 79450845 | 1.82 | 0.30 | to | 2.80 | 13.07 | to | 10.32 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| TA TSW International Equity Service Class | TA TSW International Equity Service Class | TA TSW International Equity Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 6988010 | $20.78 | to | $15.83 | $64808123 | 2.12% | 0.20% | to | 2.65% | 31.16% | to | 28.03% |
| 12/31/2024 | 7256967 | 15.85 | to | 12.36 | 50338682 | 2.73 | 0.20 | to | 2.65 | 2.91 | to | 0.44 |
| 12/31/2023 | 7954315 | 15.40 | to | 12.31 | 52560455 | 0.84 | 0.20 | to | 2.65 | 15.03 | to | 12.29 |
| 12/31/2022 | 8682343 | 13.39 | to | 10.96 | 48319769 | 3.08 | 0.20 | to | 2.65 | (14.81) | to | (16.84) |
| 12/31/2021 | 9840797 | 15.71 | to | 13.18 | 61790900 | 1.67 | 0.20 | to | 2.65 | 12.98 | to | 10.28 |
| TA TSW Mid Cap Value Opportunities Service Class | TA TSW Mid Cap Value Opportunities Service Class | TA TSW Mid Cap Value Opportunities Service Class |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 20072747 | 28.28 | to | 15.03 | 204234863 | 1.03 | 0.20 | to | 2.80 | 9.14 | to | 6.38 |
| 12/31/2024 | 22790847 | 25.91 | to | 14.12 | 210716491 | 1.22 | 0.20 | to | 2.80 | 7.87 | to | 5.13 |
| 12/31/2023 | 26043791 | 24.02 | to | 13.44 | 220560051 | 1.25 | 0.20 | to | 2.80 | 10.35 | to | 7.57 |
| 12/31/2022 | 30030034 | 21.77 | to | 12.49 | 224237611 | 0.55 | 0.20 | to | 2.80 | (8.61) | to | (10.92) |
| 12/31/2021 | 32677232 | 23.82 | to | 14.02 | 275957681 | 0.61 | 0.20 | to | 2.80 | 28.59 | to | 25.34 |
| TA WMC US Growth Initial Class | TA WMC US Growth Initial Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 124073301 | 8.20 | to | 34.12 | 759130177 |  | 0.30 | to | 2.80 | 17.41 | to | 14.55 |
| 12/31/2024 | 140016590 | 6.98 | to | 29.78 | 737945218 | 0.01 | 0.30 | to | 2.80 | 28.61 | to | 25.46 |
| 12/31/2023 | 156448883 | 5.43 | to | 23.74 | 647727797 | 0.04 | 0.30 | to | 2.80 | 41.66 | to | 38.23 |
| 12/31/2022 | 112484165 | 3.83 | to | 17.17 | 332806510 |  | 0.30 | to | 2.80 | (31.55) | to | (33.22) |
| 12/31/2021 | 126944457 | 5.60 | to | 25.72 | 555926199 | 0.08 | 0.30 | to | 2.80 | 20.30 | to | 17.38 |
| TA WMC US Growth Service Class | TA WMC US Growth Service Class |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 31876502 | 60.46 | to | 33.80 | 906168701 |  | 0.20 | to | 2.65 | 17.23 | to | 14.44 |
| 12/31/2024 | 36923683 | 51.57 | to | 29.54 | 868451408 |  | 0.20 | to | 2.65 | 28.44 | to | 25.35 |
| 12/31/2023 | 41563604 | 40.15 | to | 23.56 | 743992798 |  | 0.20 | to | 2.65 | 41.44 | to | 38.08 |
| 12/31/2022 | 21824681 | 28.39 | to | 17.07 | 224156846 |  | 0.20 | to | 2.65 | (31.65) | to | (33.28) |
| 12/31/2021 | 24329498 | 41.54 | to | 25.58 | 356189502 |  | 0.20 | to | 2.65 | 20.13 | to | 17.26 |
| Vanguard® Balanced |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 4359547 | 17.01 | to | 14.90 | 68964533 | 1.96 | 0.27 | to | 2.60 | 16.15 | to | 13.48 |
| 12/31/2024 | 3346843 | 14.65 | to | 13.13 | 46092630 | 2.21 | 0.27 | to | 2.60 | 14.49 | to | 11.84 |
| 12/31/2023 | 2955856 | 12.79 | to | 11.74 | 36028930 | 1.90 | 0.27 | to | 2.60 | 14.02 | to | 11.40 |
| 12/31/2022 | 2042105 | 11.22 | to | 10.54 | 22168437 | 1.74 | 0.27 | to | 2.60 | (14.53) | to | (16.50) |
| 12/31/2021 | 1267393 | 13.13 | to | 12.62 | 16289938 | 1.02 | 0.27 | to | 2.60 | 18.69 | to | 15.96 |
| Vanguard® Capital Growth | Vanguard® Capital Growth |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 292855 | 22.22 | to | 21.95 | 6497686 | 0.97 | 0.27 | to | 0.47 | 28.63 | to | 28.37 |
| 12/31/2024 | 242843 | 17.27 | to | 17.10 | 4188217 | 1.07 | 0.27 | to | 0.47 | 13.10 | to | 12.88 |
| 12/31/2023 | 228569 | 15.27 | to | 15.15 | 3486754 | 0.99 | 0.27 | to | 0.47 | 27.64 | to | 27.38 |
| 12/31/2022 | 197024 | 11.97 | to | 11.89 | 2355791 | 0.79 | 0.27 | to | 0.47 | (15.71) | to | (15.88) |
| 12/31/2021 | 117412 | 14.20 | to | 14.14 | 1665830 | 0.50 | 0.27 | to | 0.47 | 21.21 | to | 20.97 |
| Vanguard® Conservative Allocation | Vanguard® Conservative Allocation |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 2357472 | 13.54 | to | 11.86 | 29597102 | 2.51 | 0.27 | to | 2.60 | 12.43 | to | 9.84 |
| 12/31/2024 | 1408623 | 12.05 | to | 10.80 | 16071368 | 2.51 | 0.27 | to | 2.60 | 7.20 | to | 4.72 |
| 12/31/2023 | 1173487 | 11.24 | to | 10.31 | 12627161 | 1.79 | 0.27 | to | 2.60 | 12.21 | to | 9.63 |
| 12/31/2022 | 975225 | 10.01 | to | 9.40 | 9474948 | 2.02 | 0.27 | to | 2.60 | (15.13) | to | (17.08) |
| 12/31/2021 | 665743 | 11.80 | to | 11.34 | 7733391 | 0.96 | 0.27 | to | 2.60 | 5.70 | to | 3.27 |
| Vanguard® Diversified Value | Vanguard® Diversified Value |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 192208 | 20.54 | to | 20.29 | 3942804 | 1.47 | 0.27 | to | 0.47 | 16.51 | to | 16.28 |
| 12/31/2024 | 175782 | 17.63 | to | 17.45 | 3095580 | 1.52 | 0.27 | to | 0.47 | 14.58 | to | 14.35 |
| 12/31/2023 | 176996 | 15.38 | to | 15.26 | 2720876 | 1.22 | 0.27 | to | 0.47 | 19.80 | to | 19.56 |
| 12/31/2022 | 132810 | 12.84 | to | 12.76 | 1704817 | 1.01 | 0.27 | to | 0.47 | (11.73) | to | (11.90) |
| 12/31/2021 | 96561 | 14.55 | to | 14.49 | 1404212 | 0.37 | 0.27 | to | 0.47 | 30.11 | to | 29.85 |
| Vanguard® Equity Income | Vanguard® Equity Income |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 284729 | 18.40 | to | 18.18 | 5238286 | 2.38 | 0.27 | to | 0.47 | 16.48 | to | 16.25 |
| 12/31/2024 | 278767 | 15.80 | to | 15.64 | 4402590 | 2.50 | 0.27 | to | 0.47 | 14.81 | to | 14.58 |
| 12/31/2023 | 205204 | 13.76 | to | 13.65 | 2822945 | 2.61 | 0.27 | to | 0.47 | 7.81 | to | 7.59 |
| 12/31/2022 | 169912 | 12.77 | to | 12.69 | 2168634 | 2.26 | 0.27 | to | 0.47 | (0.93) | to | (1.13) |
| 12/31/2021 | 70548 | 12.89 | to | 12.83 | 908814 | 1.01 | 0.27 | to | 0.47 | 24.99 | to | 24.74 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| Vanguard® Equity Index |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 508097 | $50.37 | to | $27.73 | $23138126 | 1.05% | 0.27% | to | 2.50% | 17.38% | to | 14.83% |
| 12/31/2024 | 571296 | 42.91 | to | 24.15 | 19766714 | 1.29 | 0.27 | to | 2.50 | 24.50 | to | 21.78 |
| 12/31/2023 | 652810 | 34.46 | to | 19.83 | 17100972 | 1.32 | 0.27 | to | 2.50 | 25.78 | to | 23.05 |
| 12/31/2022 | 632828 | 27.40 | to | 16.11 | 12705695 | 1.08 | 0.27 | to | 2.50 | (18.45) | to | (20.22) |
| 12/31/2021 | 829466 | 33.60 | to | 20.20 | 9934344 | 0.97 | 0.27 | to | 2.50 | 28.20 | to | 25.42 |
| Vanguard® Global Bond Index | Vanguard® Global Bond Index |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 161946 | 10.28 | to | 10.16 | 1661726 | 2.92 | 0.27 | to | 0.47 | 5.41 | to | 5.20 |
| 12/31/2024 | 121798 | 9.76 | to | 9.66 | 1186450 | 2.77 | 0.27 | to | 0.47 | 1.76 | to | 1.55 |
| 12/31/2023 | 110531 | 9.59 | to | 9.51 | 1058304 | 1.86 | 0.27 | to | 0.47 | 6.23 | to | 6.02 |
| 12/31/2022 | 87809 | 9.03 | to | 8.97 | 792449 | 2.85 | 0.27 | to | 0.47 | (13.36) | to | (13.53) |
| 12/31/2021 | 30326 | 10.42 | to | 10.38 | 315941 | 0.99 | 0.27 | to | 0.47 | (2.11) | to | (2.30) |
| Vanguard® Growth |  |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 710544 | 24.17 | to | 23.88 | 17158532 | 0.21 | 0.27 | to | 0.47 | 16.57 | to | 16.34 |
| 12/31/2024 | 755795 | 20.73 | to | 20.52 | 15659300 | 0.21 | 0.27 | to | 0.47 | 32.77 | to | 32.51 |
| 12/31/2023 | 315507 | 15.61 | to | 15.49 | 4920201 | 0.23 | 0.27 | to | 0.47 | 39.76 | to | 39.48 |
| 12/31/2022 | 284871 | 11.17 | to | 11.10 | 3179060 |  | 0.27 | to | 0.47 | (33.54) | to | (33.68) |
| 12/31/2021 | 207643 | 16.81 | to | 16.74 | 3489927 | 0.01 | 0.27 | to | 0.47 | 17.54 | to | 17.31 |
| Vanguard® High Yield Bond | Vanguard® High Yield Bond |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 315687 | 12.68 | to | 12.53 | 4002314 | 6.28 | 0.27 | to | 0.47 | 8.89 | to | 8.67 |
| 12/31/2024 | 312758 | 11.64 | to | 11.53 | 3641513 | 4.36 | 0.27 | to | 0.47 | 6.16 | to | 5.95 |
| 12/31/2023 | 194541 | 10.97 | to | 10.88 | 2133574 | 4.16 | 0.27 | to | 0.47 | 11.37 | to | 11.14 |
| 12/31/2022 | 124966 | 9.85 | to | 9.79 | 1230611 | 4.77 | 0.27 | to | 0.47 | (9.61) | to | (9.79) |
| 12/31/2021 | 50792 | 10.90 | to | 10.85 | 553263 | 1.14 | 0.27 | to | 0.47 | 3.40 | to | 3.19 |
| Vanguard® International | Vanguard® International |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 462077 | 27.90 | to | 20.58 | 10749282 | 0.82 | 0.27 | to | 2.70 | 19.64 | to | 16.82 |
| 12/31/2024 | 467397 | 23.32 | to | 17.62 | 8467892 | 1.16 | 0.27 | to | 2.70 | 8.72 | to | 6.13 |
| 12/31/2023 | 510420 | 21.45 | to | 16.60 | 7666543 | 1.47 | 0.27 | to | 2.70 | 14.35 | to | 11.65 |
| 12/31/2022 | 486799 | 18.76 | to | 14.87 | 5871484 | 1.34 | 0.27 | to | 2.70 | (30.31) | to | (31.96) |
| 12/31/2021 | 469378 | 26.91 | to | 21.85 | 7109922 | 0.21 | 0.27 | to | 2.70 | (1.81) | to | (4.13) |
| Vanguard® Mid-Cap Index | Vanguard® Mid-Cap Index |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 1719004 | 34.90 | to | 19.30 | 54359071 | 1.15 | 0.27 | to | 2.70 | 11.24 | to | 8.61 |
| 12/31/2024 | 1376980 | 31.37 | to | 17.77 | 39633203 | 1.22 | 0.27 | to | 2.70 | 14.76 | to | 12.03 |
| 12/31/2023 | 960505 | 27.34 | to | 15.86 | 24221625 | 1.26 | 0.27 | to | 2.70 | 15.52 | to | 12.79 |
| 12/31/2022 | 684979 | 23.67 | to | 14.06 | 14987533 | 1.05 | 0.27 | to | 2.70 | (19.04) | to | (20.95) |
| 12/31/2021 | 525414 | 29.23 | to | 17.79 | 12811995 | 0.68 | 0.27 | to | 2.70 | 24.02 | to | 21.09 |
| Vanguard® Moderate Allocation | Vanguard® Moderate Allocation |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 2706005 | 15.38 | to | 13.47 | 39266773 | 2.25 | 0.27 | to | 2.60 | 15.87 | to | 13.21 |
| 12/31/2024 | 2408482 | 13.28 | to | 11.90 | 30484257 | 2.28 | 0.27 | to | 2.60 | 10.02 | to | 7.48 |
| 12/31/2023 | 2219257 | 12.07 | to | 11.07 | 25875445 | 1.89 | 0.27 | to | 2.60 | 15.24 | to | 12.59 |
| 12/31/2022 | 1822015 | 10.47 | to | 9.83 | 18671605 | 2.11 | 0.27 | to | 2.60 | (16.15) | to | (18.08) |
| 12/31/2021 | 1237813 | 12.49 | to | 12.00 | 15250760 | 0.91 | 0.27 | to | 2.60 | 9.78 | to | 7.25 |
| Vanguard® Money Market | Vanguard® Money Market |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 1050423 | 11.56 | to | 11.43 | 12138572 | 4.09 | 0.27 | to | 0.47 | 3.90 | to | 3.70 |
| 12/31/2024 | 894791 | 11.13 | to | 11.02 | 9955480 | 5.06 | 0.27 | to | 0.47 | 4.91 | to | 4.70 |
| 12/31/2023 | 750806 | 10.61 | to | 10.52 | 7964434 | 4.96 | 0.27 | to | 0.47 | 4.77 | to | 4.56 |
| 12/31/2022 | 494571 | 10.13 | to | 10.07 | 5005978 | 1.40 | 0.27 | to | 0.47 | 1.24 | to | 1.03 |
| 12/31/2021 | 460735 | 10.00 | to | 9.96 | 4608533 | 0.01 | 0.27 | to | 0.47 | (0.25) | to | (0.45) |
| Vanguard® Real Estate Index | Vanguard® Real Estate Index |  |  |  |  |  |  |  |  |  |  |  |
| 12/31/2025 | 625218 | 18.40 | to | 11.90 | 10953128 | 2.61 | 0.27 | to | 2.50 | 2.83 | to | 0.60 |
| 12/31/2024 | 594780 | 17.90 | to | 11.83 | 10208557 | 2.65 | 0.27 | to | 2.50 | 4.46 | to | 2.17 |
| 12/31/2023 | 242404 | 17.13 | to | 11.58 | 3659996 | 2.48 | 0.27 | to | 2.50 | 11.40 | to | 8.98 |
| 12/31/2022 | 252079 | 15.38 | to | 10.63 | 3401801 | 1.77 | 0.27 | to | 2.50 | (26.50) | to | (28.09) |
| 12/31/2021 | 179084 | 20.92 | to | 14.78 | 2851570 | 1.61 | 0.27 | to | 2.50 | 39.83 | to | 36.79 |

---

**Transamerica Life Insurance Company** 

**Separate Account VA B** 

**Notes to Financial Statements** 

**December 31, 2025** 

**5.** **Financial Highlights (continued)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** | **For the Year Ended December 31** |
|  |  |  |  | **Unit Fair Value** |  |  |  | **Expense** | **Expense** | **Expense** | **Total Return\*\*\*** | **Total Return\*\*\*** | **Total Return\*\*\*** |
|  |  |  |  | **Corresponding to** |  |  | **Investment** | **Ratio\*\*** | **Ratio\*\*** | **Ratio\*\*** |  | **Corresponding to** |  |
|  |  |  |  | **Lowest to Highest** |  | **Net** | **Income** | **Lowest to** | **Lowest to** | **Lowest to** |  | **Lowest to Highest** |  |
| **Subaccount** | **Subaccount** | **Units** | | **Expense Ratio** | | **Assets** | **Ratio\*** | **Highest** | **Highest** | **Highest** |  | **Expense Ratio** |  |
| Vanguard® Short-Term Investment Grade | Vanguard® Short-Term Investment Grade | Vanguard® Short-Term Investment Grade | Vanguard® Short-Term Investment Grade |  |  |  |  |  |  |  |  |  |  |
|  | 12/31/2025 | 1730690 | $12.82 | to | $10.10 | $19912893 | 3.97% | 0.27% | to | 2.70% | 6.57% | to | 4.04% |
|  | 12/31/2024 | 1457595 | 12.03 | to | 9.71 | 15913653 | 3.50 | 0.27 | to | 2.70 | 4.61 | to | 2.12 |
|  | 12/31/2023 | 1369424 | 11.50 | to | 9.50 | 13617413 | 1.78 | 0.27 | to | 2.70 | 5.87 | to | 3.37 |
|  | 12/31/2022 | 938005 | 10.86 | to | 9.19 | 8419841 | 1.68 | 0.27 | to | 2.70 | (5.98) | to | (8.20) |
|  | 12/31/2021 | 861637 | 11.55 | to | 10.02 | 7632207 | 1.80 | 0.27 | to | 2.70 | (0.72) | to | (3.07) |
| Vanguard® Total Bond Market Index | Vanguard® Total Bond Market Index | Vanguard® Total Bond Market Index |  |  |  |  |  |  |  |  |  |  |  |
|  | 12/31/2025 | 1941406 | 11.69 | to | 9.26 | 22137809 | 3.37 | 0.27 | to | 2.70 | 6.65 | to | 4.13 |
|  | 12/31/2024 | 1682459 | 10.96 | to | 8.90 | 17630542 | 2.59 | 0.27 | to | 2.70 | 0.97 | to | (1.43) |
|  | 12/31/2023 | 1324563 | 10.85 | to | 9.03 | 13658790 | 2.43 | 0.27 | to | 2.70 | 5.29 | to | 2.81 |
|  | 12/31/2022 | 1216852 | 10.31 | to | 8.78 | 11337994 | 2.10 | 0.27 | to | 2.70 | (13.45) | to | (15.49) |
|  | 12/31/2021 | 1159191 | 11.91 | to | 10.39 | 11292522 | 1.64 | 0.27 | to | 2.70 | (1.98) | to | (4.30) |
| Vanguard® Total International Stock Market Index | Vanguard® Total International Stock Market Index | Vanguard® Total International Stock Market Index | Vanguard® Total International Stock Market Index |  |  |  |  |  |  |  |  |  |  |
|  | 12/31/2025 | 709977 | 16.09 | to | 15.89 | 11407411 | 2.64 | 0.27 | to | 0.47 | 31.69 | to | 31.42 |
|  | 12/31/2024 | 657784 | 12.22 | to | 12.09 | 8026078 | 2.96 | 0.27 | to | 0.47 | 4.77 | to | 4.56 |
|  | 12/31/2023 | 551380 | 11.66 | to | 11.57 | 6422574 | 2.78 | 0.27 | to | 0.47 | 15.23 | to | 15.00 |
|  | 12/31/2022 | 503602 | 10.12 | to | 10.06 | 5091921 | 2.94 | 0.27 | to | 0.47 | (16.24) | to | (16.41) |
|  | 12/31/2021 | 240815 | 12.08 | to | 12.03 | 2908503 | 1.25 | 0.27 | to | 0.47 | 8.24 | to | 8.02 |
| Vanguard® Total Stock Market Index | Vanguard® Total Stock Market Index | Vanguard® Total Stock Market Index |  |  |  |  |  |  |  |  |  |  |  |
|  | 12/31/2025 | 1359962 | 21.89 | to | 21.63 | 29702350 | 1.12 | 0.27 | to | 0.47 | 16.62 | to | 16.38 |
|  | 12/31/2024 | 1254270 | 18.77 | to | 18.59 | 23495552 | 1.25 | 0.27 | to | 0.47 | 23.38 | to | 23.13 |
|  | 12/31/2023 | 1151870 | 15.22 | to | 15.09 | 17497907 | 1.06 | 0.27 | to | 0.47 | 25.61 | to | 25.36 |
|  | 12/31/2022 | 829114 | 12.11 | to | 12.04 | 10036777 | 1.30 | 0.27 | to | 0.47 | (19.81) | to | (19.97) |
|  | 12/31/2021 | 647860 | 15.11 | to | 15.04 | 9784565 | 0.39 | 0.27 | to | 0.47 | 25.30 | to | 25.05 |
| Voya Global Perspectives Class S Shares | Voya Global Perspectives Class S Shares | Voya Global Perspectives Class S Shares |  |  |  |  |  |  |  |  |  |  |  |
|  | 12/31/2025 | 100 | 14.65 | to | 13.38 | 1466 | 5.41 | 1.29 | to | 2.14 | 12.56 | to | 11.61 |
|  | 12/31/2024 | 104 | 13.01 | to | 11.99 | 1349 | 3.53 | 1.29 | to | 2.14 | 5.50 | to | 4.60 |
|  | 12/31/2023 | 1245 | 12.33 | to | 11.46 | 15362 | 4.94 | 1.29 | to | 2.14 | 8.87 | to | 7.95 |
|  | 12/31/2022 | 2207 | 11.33 | to | 10.62 | 25002 | 3.07 | 1.29 | to | 2.14 | (18.71) | to | (19.40) |
|  | 12/31/2021 | 2380 | 13.94 | to | 13.17 | 33169 | 3.35 | 1.29 | to | 2.14 | 4.48 | to | 3.60 |
| *<sup>(1)</sup>* | *See Footnote 1* | *See Footnote 1* |  |  |  |  |  |  |  |  |  |  |  |
| \* | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. | These amounts represent the dividends, excluding distributions of capital gains, received by the subaccount from the Mutual Fund, net of management fees assessed by the fund manager, divided by the average net assets. These ratios exclude those expenses, such as mortality and expense charges, that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the Mutual Fund in which the subaccounts invest. |
| \*\* | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. | These amounts represent the annualized contract expenses of the subaccount, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the Mutual Fund have been excluded. |
| \*\*\* | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. | These amounts represent the total return for the periods indicated, including changes in the value of the Mutual Fund, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the variable account. The total return is calculated for each period indicated or from the effective date through the end of the reporting period. Total returns reflect a full twelve month period and total returns for subaccounts opened during the year have not been disclosed as they may not be indicative of a full year return. Expense ratios not in effect for the full twelve months are not reflected in the total return as they may not be indicative of a full year return. |

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| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |

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| | |
|:---|:---|
| **6. Administrative and Mortality and Expense Risk Charges** | **6. Administrative and Mortality and Expense Risk Charges** |
| TLIC deducts a daily administrative charge equal to an annual rate of 0.15% of the daily net assets value of each subaccount for administrative expenses. TLIC also deducts an annual charge during the accumulation phase, not to exceed $50, proportionately from the subaccounts' unit values. An annual charge ranging from 0.05% to 2.65% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC's assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the Mutual Fund. Charges for administrative and mortality and expense risk are an expense of the subaccount. Charges reflected above are those currently assessed and may be subject to change. Contract owners should see their actual policy and any related attachments to determine their specific charges. | TLIC deducts a daily administrative charge equal to an annual rate of 0.15% of the daily net assets value of each subaccount for administrative expenses. TLIC also deducts an annual charge during the accumulation phase, not to exceed $50, proportionately from the subaccounts' unit values. An annual charge ranging from 0.05% to 2.65% is deducted (based on the death benefit selected) from the unit values of the subaccounts of the Separate Account for TLIC's assumption of certain mortality and expense risks incurred in connection with the contract. The charge is assessed daily based on the net asset value of the Mutual Fund. Charges for administrative and mortality and expense risk are an expense of the subaccount. Charges reflected above are those currently assessed and may be subject to change. Contract owners should see their actual policy and any related attachments to determine their specific charges. |
| In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees that is based on their actual policy: | In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees that is based on their actual policy: |
|  | **Additional Fund** |
| **<u>Subaccount</u>** | **<u>Facilitation Fee Assessed</u>** |
| AB Balanced Hedged Allocation Class B Shares | 0.20% |
| AB Relative Value Class B Shares | 0.20% |
| American Funds - Asset Allocation Class 2 Shares | 0.30% - 0.40% |
| American Funds - Asset Allocation Class 4 Shares | 0.20% |
| American Funds - Growth Class 2 Shares | 0.30% - 0.40% |
| American Funds - Growth Class 4 Shares | 0.13% |
| American Funds - Growth-Income Class 2 Shares | 0.30% - 0.40% |
| American Funds - Growth-Income Class 4 Shares | 0.13% |
| American Funds - International Class 2 Shares | 0.30% - 0.40% |
| American Funds - International Class 4 Shares | 0.13% |
| American Funds - New World Class 4 Shares | 0.15% |
| American Funds - The Bond Fund of America Class 2 Shares | 0.30% - 0.40% |
| American Funds - The Bond Fund of America Class 4 Shares | 0.11% |
| Columbia - Acorn | 0.30% |
| Columbia - Acorn International | 0.30% |
| DFA VA Global Bond | 0.60% |
| Fidelity® VIP Balanced Service Class 2 | 0.20% |
| Fidelity® VIP Consumer Staples Initial Class | 0.50% |
| Fidelity® VIP Contrafund® Initial Class | 0.20% |
| Fidelity® VIP Contrafund® Service Class 2 | 0.20% |
| Fidelity® VIP Energy Service Class 2 | 0.30% |
| Fidelity® VIP Equity-Income Initial Class | 0.20% |
| Fidelity® VIP Growth Initial Class | 0.20% |
| Fidelity® VIP Health Care Service Class 2 | 0.30% |
| Fidelity® VIP Mid Cap Initial Class | 0.20% |
| Fidelity® VIP Mid Cap Service Class 2 | 0.20% |
| Fidelity® VIP Technology Initial Class | 0.50% |
| Fidelity® VIP Utilities Initial Class | 0.50% |
| Fidelity® VIP Value Strategies Initial Class | 0.20% |
| Fidelity® VIP Value Strategies Service Class 2 | 0.20% |
| Franklin Allocation Class 4 Shares | 0.15% |
| State Street Total Return V.I.S. Class 3 Shares | 0.20% |
| TA MSCI EAFE Index Service Class | 0.15% |
| TA S&P 500 Index Service Class | 0.15% |
| Vanguard® Balanced | 0.60% |
| Vanguard® Conservative Allocation | 0.60% |
| Vanguard® Equity Index | 0.20% - 0.60% |

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| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |

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| | |
|:---|:---|
| **6. Administrative and Mortality and Expense Risk Charges (continued)** | **6. Administrative and Mortality and Expense Risk Charges (continued)** |
| In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees that is based on their actual policy (continued): | In addition to M&E, the following subaccounts are assessed a daily charge for fund facilitation fees that is based on their actual policy (continued): |
|  | **Additional Fund** |
| **<u>Subaccount</u>** | **<u>Facilitation Fee Assessed</u>** |
| Vanguard® International | 0.20% - 0.60% |
| Vanguard® Mid-Cap Index | 0.20% - 0.60% |
| Vanguard® Moderate Allocation | 0.60% |
| Vanguard® Real Estate Index | 0.20% - 0.60% |
| Vanguard® Short-Term Investment Grade | 0.20% - 0.60% |
| Vanguard® Total Bond Market Index | 0.20% - 0.60% |
| Voya Global Perspectives Class S Shares | 0.14% |

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| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |
| **7. Income Tax** |
| Operations of the Separate Account form a part of TLIC, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code of 1986, as amended (the Code). The operations of the Separate Account are accounted for separately from other operations of TLIC for purposes of federal income taxation. The Separate Account is not separately taxable as a regulated investment company under Subchapter M of the Code and is not otherwise taxable as an entity separate from TLIC. Under existing federal income tax laws, the income of the Separate Account is not taxable to TLIC, as long as earnings are credited under the variable annuity contracts. |
| **8. Subsequent Events** |
| The Separate Account has evaluated the financial statements for subsequent events through the date which the financial statements were issued. During this period, there were no subsequent events requiring recognition in the financial statements. |
| **9. Related Parties** |
| Transamerica Capital, Inc. (TCI), a wholesaling broker-dealer, is an affiliated entity of TLIC and an indirect wholly owned subsidiary of Aegon Ltd. TCI distributes TLIC's products through broker-dealers and other financial intermediaries. |
| The subaccounts invest in the mutual funds listed in Footnote 1. These investments include funds managed by Transamerica Asset Management, Inc. (TAM). Transamerica Fund Services, Inc. (TFS) serves as a transfer agent to TAM, and Aegon USA Asset Management Holding, LLC (AAM) serves as a sub-advisor for certain funds managed by TAM. TAM, TFS and AAM are affiliated entities of TLIC and indirect wholly owned subsidiaries of Aegon Ltd. Funds managed by TAM are identified by their fund name, which includes reference to Aegon, Transamerica or both. The Separate Account pays management fees to the related funds as detailed in the fund prospectus. |
| No charges other than those disclosed in Footnote 6 are deducted for the service rendered by related parties. |
| Contract owners may transfer funds between available subaccount options within the Separate Account. These transfers are performed at unit value at the time of the transfer. |

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| |
|:---|
| **Transamerica Life Insurance Company** |
| **Separate Account VA B** |
| **Notes to Financial Statements** |
| **December 31, 2025** |
| **10. Segment Reporting** |
| Each fund of the Separate Account constitutes a single operating segment and therefore, a single reportable segment because the Chief Operating Decision Maker (CODM) manages the activities of the Separate Account using information of each fund. The Separate Account is engaged in a single line of business as a registered unit investment trust. The Separate Account is a funding vehicle for individual variable annuity contracts with the assets owned by TLIC to support the liabilities of the applicable insurance contracts. The subaccounts have identified the President and Chief Operating Officer as the CODM as the Separate Account does not have employees and is not a separate legal entity. |
| The CODM uses increase (decrease) in net assets from operations as their performance measure in order to make operational decisions while monitoring the net assets of each of the funds within the Separate Account. The Accounting policies used to measure profit and loss of the segments are the same as those described in the Summary of Significant Accounting Policies (see note 2). The measure of segment assets is reported on the balance sheet as total consolidated assets. Refer to the Statements of Operations and Changes in Net Assets for each fund's operating segment and related footnotes for significant expenses principle and the existing segment requirements as of December 31, 2025 and for the year ended December 31, 2025 and December 31, 2024. |

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