# EDGAR Filing Document

**Accession Number:** 0001095222
**File Stem:** 0001104659-26-045728
**Filing Date:** 2026-4
**Character Count:** 113613
**Document Hash:** b8ccb9f42fe09c26b48216392eb37f19
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-045728.hdr.sgml**: 20260421

**ACCESSION NUMBER**: 0001104659-26-045728

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260421

**DATE AS OF CHANGE**: 20260421

**EFFECTIVENESS DATE**: 20260421

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT
- **CENTRAL INDEX KEY:** 0001095222

**ORGANIZATION NAME:**
- **EIN:** 431237031
- **STATE OF INCORPORATION:** MO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09657
- **FILM NUMBER:** 26876754

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 10207
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35202
- **BUSINESS PHONE:** 2053254300

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 10207
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35202

## Series and Classes Contracts Data

### TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT (Series ID: S000009830)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000118143 | Protective Titanium Investor Variable Universal Life |  |

*Titanium Universal Life Variable Account* 

*Financial Statements* 

*Year Ended December 31, 2025* 

*(With Report of Independent Registered Public Accounting Firm Thereon)*

 

 

**Report of Independent Registered Public Accounting Firm**

To the Board of Directors of Protective Life Insurance Company and Policy Owners of Titanium Universal Life Variable Account:

*Opinion on the Financial Statements*

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

*Basis for Opinion*

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

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Such procedures also included confirmation of securities owned as of December 31, 2025, by correspondence with the underlying mutual funds or their transfer agents; when replies were not received, we performed other appropriate auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of one or more Protective Life Insurance Company Separate Accounts since 2019.

Birmingham, Alabama<br> April 20, 2026

**Appendix**

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

Alger Balanced Portfolio, Class I-2

Alger Capital Appreciation Portfolio, Class I-2

Alger Growth & Income Portfolio, Class I-2

Alger Large Cap Growth Portfolio, Class I-2

Alger Mid Cap Growth Portfolio, Class I-2

Alger Small Cap Growth Portfolio, Class I-2

Allspring VT Discovery SMID Cap Growth Fund, Class 2

Allspring VT Index Asset Allocation Fund, Class 2

Allspring VT Opportunity Fund, Class 2

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

BNY Mellon VIF Appreciation Portfolio, Initial Shares

BNY Mellon VIF Government Money Market Portfolio

DWS CROCI U.S. VIP, Class A

DWS Equity 500 Index VIP, Class A

DWS High Income VIP, Class A

DWS Small Cap Index VIP, Class A

DWS Small Mid Cap Growth VIP, Class A

DWS Small Mid Cap Value VIP, Class A

Franklin Global Real Estate VIP Fund, Class 2

Invesco V.I. American Franchise Fund, Series I

Invesco V.I. Core Equity Fund, Series I

Invesco V.I. Discovery Mid Cap Growth Fund, Series I

Invesco V.I. Equity and Income Fund, Series I

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

Invesco V.I. Government Securities Fund, Series I

Invesco V.I. Technology Fund, Series I

MFS VIT Growth Series, Initial Class

MFS VIT II High Yield Portfolio, Initial Class

MFS VIT Investors Trust Series, Initial Class

MFS VIT Research Series, Initial Class

MFS VIT Total Return Series, Initial Class

MFS VIT Value Series, Initial Class

Templeton Foreign VIP Fund, Class 2

Templeton Global Bond VIP Fund, Class 2

The statement of changes in net assets for the period from January 1, 2024 to April 29, 2024 (date of liquidation).

Allspring VT International Equity Fund, Class 1

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Alger<br> Balanced<br> Portfolio,<br> Class I-2 | Alger Capital<br> Appreciation<br> Portfolio,<br> Class I-2 | Alger<br> Growth &<br> Income<br> Portfolio,<br> Class I-2 | Alger Large<br> Cap Growth<br> Portfolio,<br> Class I-2 | Alger Mid<br> Cap Growth<br> Portfolio,<br> Class I-2 | Alger Small<br> Cap Growth<br> Portfolio,<br> Class I-2 | Allspring<br> VT<br> Discovery<br> SMID Cap<br> Growth<br> Fund, <br> Class 2 |
| ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments at fair value <sup>(1)</sup> | $492583 | $7407077 | $1683665 | $3957105 | $3450781 | $1436664 | $2595398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Policies |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the fund manager | 32 | 227 | 51 | 677 | 204 | 556 | 524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Company | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 492615 | 7407304 | 1683716 | 3957782 | 3450985 | 1437220 | 2595922 |
| LIABILITIES: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Policies | 32 | 227 | 51 | 677 | 204 | 556 | 524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the fund manager |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Company | 5 | 124342 | 19 | 41895 | 25730 | 19 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 37 | 124569 | 70 | 42572 | 25934 | 575 | 550 |
| NET ASSETS | $492578 | $7282735 | $1683646 | $3915210 | $3425051 | $1436645 | $2595372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair value per share (NAV) | $22.56 | $128.85 | $35.12 | $103.17 | $23.82 | $18.64 | $25.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding in the Separate Account | 21834 | 57486 | 47940 | 38355 | 144869 | 77074 | 102625 |
| &nbsp;&nbsp;&nbsp;<sup>(1)</sup> Investments in mutual fund shares, at cost | $382742 | $5178289 | $1178250 | $2808925 | $3054257 | $1818719 | $2939499 |

---

 

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

(Continued)

 

See accompanying notes to financial statements.

 

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Allspring<br> VT Index<br> Asset<br> Allocation<br> Fund,<br> Class 2 | Allspring<br> VT<br> Opportunity<br> Fund,<br> Class 2 | BNY Mellon<br> Sustainable<br> U.S. Equity<br> Portfolio,<br> Inc., Initial<br> Shares | BNY Mellon<br> VIF<br> Appreciation<br> Portfolio,<br> Initial<br> Shares | BNY Mellon<br> VIF<br> Government<br> Money<br> Market<br> Portfolio | DWS<br> CROCI U.S.<br> VIP, Class A | DWS Equity<br> 500 Index<br> VIP, Class A |
| ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments at fair value <sup>(1)</sup> | $142718 | $2601177 | $882742 | $726944 | $4178812 | $54368 | $436279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Policies |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the fund manager | 26 | 127 | 8 | 8 | 236 | 1 | 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Company | 2 | - | - | - | - | - | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 142746 | 2601304 | 882750 | 726952 | 4179048 | 54369 | 436783 |
| LIABILITIES: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Policies | 26 | 127 | 8 | 8 | 236 | 1 | 494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the fund manager |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Company | - | 31 | 9 | 1313 | 18 | 1 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 26 | 158 | 17 | 1321 | 254 | 2 | 494 |
| NET ASSETS | $142720 | $2601146 | $882733 | $725631 | $4178794 | $54367 | $436289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair value per share (NAV) | $20.00 | $25.70 | $58.50 | $33.67 | $1.00 | $18.82 | $32.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding in the Separate Account | 7136 | 101213 | 15090 | 21590 | 4178812 | 2889 | 13404 |
| &nbsp;&nbsp;&nbsp;<sup>(1)</sup> Investments in mutual fund shares, at cost | $146841 | $2613126 | $693060 | $808469 | $4178812 | $41583 | $336985 |

---

 

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

(Continued)

 

See accompanying notes to financial statements.

 

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | DWS High<br> Income VIP,<br> Class A | DWS Small<br> Cap Index<br> VIP,<br> Class A | DWS Small<br> Mid Cap<br> Growth VIP,<br> Class A | DWS Small<br> Mid Cap<br> Value VIP,<br> Class A | Franklin<br> Global Real<br> Estate VIP<br> Fund,<br> Class 2 | Invesco V.I.<br> American<br> Franchise<br> Fund,<br> Series I | Invesco V.I.<br> Core Equity<br> Fund,<br> Series I |
| ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments at fair value <sup>(1)</sup> | $41467 | $932758 | $104338 | $129041 | $899673 | $4658513 | $3531594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Policies |  | 1 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the fund manager | 1 |  | 1 | 2 | 97 | 351 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Company | - | - | 8 | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 41468 | 932759 | 104347 | 129043 | 899770 | 4658864 | 3531744 |
| LIABILITIES: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Policies | 1 |  | 1 | 2 | 97 | 351 | 150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the fund manager |  | 1 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Company | - | 9 | - | 1 | 15 | 1635 | 2521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1 | 10 | 1 | 3 | 112 | 1986 | 2671 |
| NET ASSETS | $41467 | $932749 | $104346 | $129040 | $899658 | $4656878 | $3529073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair value per share (NAV) | $5.74 | $15.02 | $14.19 | $14.09 | $13.06 | $81.00 | $36.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding in the Separate Account | 7224 | 62101 | 7353 | 9158 | 68888 | 57513 | 98018 |
| &nbsp;&nbsp;&nbsp;<sup>(1)</sup> Investments in mutual fund shares, at cost | $41886 | $890569 | $112178 | $118929 | $951397 | $3811842 | $3143588 |

---

 

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

(Continued)

 

See accompanying notes to financial statements.

 

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Invesco V.I.<br> Discovery<br> Mid Cap<br> Growth<br> Fund,<br> Series I | Invesco V.I.<br> Equity and<br> Income<br> Fund,<br> Series I | Invesco V.I.<br> EQV<br> International<br> Equity Fund,<br> Series I | Invesco V.I.<br> Government<br> Securities<br> Fund,<br> Series I | Invesco V.I.<br> Technology<br> Fund,<br> Series I | MFS VIT<br> Growth<br> Series,<br> Initial<br> Class | MFS VIT II<br> High Yield<br> Portfolio,<br> Initial Class |
| ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments at fair value <sup>(1)</sup> | $28267 | $804667 | $1333034 | $154692 | $3353713 | $3069319 | $85058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Policies |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the fund manager |  | 48 | 232 | 2 | 47 | 105 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Company | - | - | - | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 28267 | 804715 | 1333266 | 154694 | 3353760 | 3069424 | 85059 |
| LIABILITIES: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Policies |  | 48 | 232 | 2 | 47 | 105 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the fund manager |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Company | 4 | 1 | 6 | 1 | 63 | 39 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 4 | 49 | 238 | 3 | 110 | 144 | 1 |
| NET ASSETS | $28263 | $804666 | $1333028 | $154691 | $3353650 | $3069280 | $85058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair value per share (NAV) | $75.21 | $18.27 | $36.11 | $10.65 | $25.69 | $67.85 | $5.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding in the Separate Account | 376 | 44043 | 36916 | 14525 | 130545 | 45237 | 16711 |
| <sup>(1)</sup> Investments in mutual fund shares, at cost | $27450 | $824877 | $1297629 | $165197 | $2975881 | $2773768 | $89113 |

---

 

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

(Continued)

 

See accompanying notes to financial statements.

 

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF ASSETS AND LIABILITIES

AS OF DECEMBER 31, 2025

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | MFS VIT<br> Investors<br> Trust Series,<br> Initial<br> Class | MFS VIT<br> Research<br> Series,<br> Initial<br> Class | MFS VIT<br> Total<br> Return<br> Series,<br> Initial<br> Class | MFS VIT<br> Value Series,<br> Initial<br> Class | Templeton<br> Foreign VIP<br> Fund,<br> Class 2 | Templeton<br> Global Bond<br> VIP Fund,<br> Class 2 |
| ASSETS: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investments at fair value <sup>(1)</sup> | $412310 | $519019 | $1371729 | $81837 | $663588 | $170238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Policies |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the fund manager | 4 | 22 | 23 | 1 | 17 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Receivable from the Company | - | - | - | 1 | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 412314 | 519041 | 1371752 | 81839 | 663605 | 170240 |
| LIABILITIES: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Policies | 4 | 22 | 23 | 1 | 17 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the fund manager |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payable to the Company | 1282 | 11 | 9 | - | 7 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 1286 | 33 | 32 | 1 | 24 | 3 |
| NET ASSETS | $411028 | $519008 | $1371720 | $81838 | $663581 | $170237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fair value per share (NAV) | $26.16 | $30.49 | $23.33 | $22.26 | $16.22 | $13.17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares outstanding in the Separate Account | 15761 | 17023 | 58797 | 3677 | 40912 | 12926 |
| &nbsp;&nbsp;&nbsp;<sup>(1)</sup> Investments in mutual fund shares, at cost | $503599 | $525106 | $1395705 | $75651 | $557218 | $185633 |

---

 

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

(Concluded)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Alger<br> Balanced<br> Portfolio,<br> Class I-2 | Alger Capital<br> Appreciation<br> Portfolio,<br> Class I-2 | Alger Growth <br> & Income<br> Portfolio,<br> Class I-2 | Alger Large<br> Cap Growth<br> Portfolio,<br> Class I-2 | Alger Mid Cap<br> Growth<br> Portfolio,<br> Class I-2 | Alger Small<br> Cap Growth<br> Portfolio,<br> Class I-2 | Allspring VT<br> Discovery<br> SMID Cap<br> Growth Fund,<br> Class 2 |
| INVESTMENT INCOME: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | $13139 | $- | $24650 | $- | $- | $- | $- |
| EXPENSES: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risk | 2336 | 26572 | 5904 | 14111 | 13979 | 5738 | 9603 |
| NET INVESTMENT INCOME (LOSS) | 10803 | (26572) | 18746 | (14111) | (13979) | (5738) | (9603) |
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on redemption of investments | 18919 | 171738 | 77762 | 118821 | 12912 | (41633) | (16061) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain distributions | 47467 | 1166258 | 187099 | 426074 | - | 16668 | 18120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 66386 | 1337996 | 264861 | 544895 | 12912 | (24965) | 2059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | (7201) | 557351 | 10504 | 415229 | 502176 | 108185 | 133097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 59185 | 1895347 | 275365 | 960124 | 515088 | 83220 | 135156 |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $69988 | $1868775 | $294111 | $946013 | $501109 | $77482 | $125553 |

---

 

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Allspring VT<br> Index Asset<br> Allocation<br> Fund,<br> Class 2 | Allspring VT<br> Opportunity<br> Fund,<br> Class 2 | BNY Mellon<br> Sustainable<br> U.S. Equity<br> Portfolio,<br> Inc., Initial<br> Shares | BNY Mellon<br> VIF<br> Appreciation<br> Portfolio,<br> Initial <br> Shares | BNY Mellon<br> VIF<br> Government<br> Money<br> Market<br> Portfolio | DWS CROCI<br> U.S. VIP,<br> Class A | DWS Equity<br> 500 Index<br> VIP, Class A |
| INVESTMENT INCOME: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | $1708 | $1289 | $2188 | $2739 | $162417 | $637 | $4553 |
| EXPENSES: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risk | 682 | 10141 | 2672 | 3153 | 17720 | 246 | 1769 |
| NET INVESTMENT INCOME (LOSS) | 1026 | (8852) | (484) | (414) | 144697 | 391 | 2784 |
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on redemption of investments | (607) | 1409 | 6738 | (13242) |  | 2600 | 16775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain distributions | 11693 | 259642 | 69908 | 114361 | - | 4127 | 37670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 11086 | 261051 | 76646 | 101119 | - | 6727 | 54445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | 2131 | (97844) | 41397 | (30788) | - | 579 | 10368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 13217 | 163207 | 118043 | 70331 | - | 7306 | 64813 |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $14243 | $154355 | $117559 | $69917 | $144697 | $7697 | $67597 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | DWS High<br> Income VIP,<br> Class A | DWS Small<br> Cap Index<br> VIP,<br> Class A | DWS Small<br> Mid Cap<br> Growth VIP,<br> Class A | DWS Small<br> Mid Cap Value<br> VIP,<br> Class A | Franklin<br> Global Real<br> Estate VIP<br> Fund, Class 2 | Invesco V.I.<br> American<br> Franchise<br> Fund,<br> Series I | Invesco V.I.<br> Core Equity<br> Fund,<br> Series I |
| INVESTMENT INCOME: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | $2672 | $11703 | $- | $1116 | $11670 | $- | $21733 |
| EXPENSES: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risk | 126 | 3912 | 460 | 503 | 4135 | 16732 | 11785 |
| NET INVESTMENT INCOME (LOSS) | 2546 | 7791 | (460) | 613 | 7535 | (16732) | 9948 |
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on redemption of investments | (129) | 44 | (1865) | (124) | (8451) | 89040 | 20394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain distributions | - | 49979 | 7373 | 12611 | - | 422968 | 250185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | (129) | 50023 | 5508 | 12487 | (8451) | 512008 | 270579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | 868 | 48212 | 2523 | 6317 | 60025 | (16971) | 201881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 739 | 98235 | 8031 | 18804 | 51574 | 495037 | 472460 |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $3285 | $106026 | $7571 | $19417 | $59109 | $478305 | $482408 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Invesco V.I.<br> Discovery<br> Mid Cap<br> Growth Fund,<br> Series I | Invesco V.I.<br> Equity and<br> Income Fund,<br> Series I | Invesco V.I.<br> EQV<br> International<br> Equity Fund,<br> Series I | Invesco V.I.<br> Government<br> Securities<br> Fund,<br> Series I | Invesco V.I.<br> Technology<br> Fund,<br> Series I | MFS VIT<br> Growth Series,<br> Initial Class | MFS VIT II<br> High Yield<br> Portfolio,<br> Initial Class |
| INVESTMENT INCOME: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | $- | $16054 | $18237 | $4677 | $- | $- | $5601 |
| EXPENSES: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risk | 135 | 3110 | 5280 | 647 | 10905 | 10925 | 530 |
| NET INVESTMENT INCOME (LOSS) | (135) | 12944 | 12957 | 4030 | (10905) | (10925) | 5071 |
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on redemption of investments | 72 | (5061) | (96) | (1497) | 26009 | 19402 | (972) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain distributions | 2334 | 40780 | 80942 | - | 357556 | 524333 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 2406 | 35719 | 80846 | (1497) | 383565 | 543735 | (972) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | (1089) | 38716 | 91922 | 7512 | 197524 | (206046) | 5205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 1317 | 74435 | 172768 | 6015 | 581089 | 337689 | 4233 |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $1182 | $87379 | $185725 | $10045 | $570184 | $326764 | $9304 |

---

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

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

(Continued)

See accompanying notes to financial statements. 

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF OPERATIONS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | MFS VIT<br> Investors<br> Trust Series,<br> Initial Class | MFS VIT<br> Research<br> Series,<br> Initial Class | MFS VIT<br> Total Return<br> Series, <br> Initial Class | MFS VIT<br> Value Series,<br> Initial Class | Templeton<br> Foreign VIP<br> Fund, Class 2 | Templeton<br> Global Bond<br> VIP <br> Fund, Class 2 |
| INVESTMENT INCOME: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | $6264 | $4798 | $35653 | $1283 | $14928 | $- |
| EXPENSES: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortality and expense risk | 1247 | 1970 | 5302 | 327 | 2985 | 785 |
| NET INVESTMENT INCOME (LOSS) | 5017 | 2828 | 30351 | 956 | 11943 | (785) |
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on redemption of investments | 228 | 7493 | (2745) | 645 | 10846 | (2867) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital gain distributions | 160307 | 117568 | 95069 | 5969 | 41683 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 160535 | 125061 | 92324 | 6614 | 52529 | (2867) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | (117079) | (71028) | 9407 | 1845 | 94906 | 27235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gain (loss) on investments | 43456 | 54033 | 101731 | 8459 | 147435 | 24368 |
| NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $48473 | $56861 | $132082 | $9415 | $159378 | $23583 |

---

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

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

(Concluded)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Alger<br> Balanced<br> Portfolio,<br> Class I-2 | Alger Capital<br> Appreciation<br> Portfolio,<br> Class I-2 | Alger<br> Growth &<br> Income<br> Portfolio,<br> Class I-2 | Alger Large<br> Cap Growth<br> Portfolio,<br> Class I-2 | Alger Mid<br> Cap Growth<br> Portfolio,<br> Class I-2 | Alger Small<br> Cap Growth<br> Portfolio,<br> Class I-2 | Allspring<br> VT<br> Discovery<br> SMID Cap<br> Growth<br> Fund,<br> Class 2 |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $10803 | $(26572) | $18746 | $(14111) | $(13979) | $(5738) | $(9603) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 66386 | 1337996 | 264861 | 544895 | 12912 | (24965) | 2059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | (7201) | 557351 | 10504 | 415229 | 502176 | 108185 | 133097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 69988 | 1868775 | 294111 | 946013 | 501109 | 77482 | 125553 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 12881 | 101587 | 55597 | 69538 | 113460 | 50049 | 68345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (11147) | (135644) | (68610) | (95964) | (118118) | (46427) | (79634) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (38730) | (135221) | (79657) | (81097) | (92772) | (42981) | (57854) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | (3281) | (295191) | (53748) | (241466) | (109964) | 43884 | 43483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | (40277) | (464469) | (146418) | (348989) | (207394) | 4525 | (25660) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 29711 | 1404306 | 147693 | 597024 | 293715 | 82007 | 99893 |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 462867 | 5878429 | 1535953 | 3318186 | 3131336 | 1354638 | 2495479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $492578 | $7282735 | $1683646 | $3915210 | $3425051 | $1436645 | $2595372 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Allspring VT<br> Index Asset<br> Allocation<br> Fund,<br> Class 2 | Allspring VT<br> Opportunity<br> Fund,<br> Class 2 | BNY Mellon<br> Sustainable<br> U.S. Equity<br> Portfolio,<br> Inc., Initial Shares | BNY Mellon<br> VIF<br> Appreciation<br> Portfolio,<br> Initial Shares | BNY Mellon<br> VIF<br> Government<br> Money<br> Market<br> Portfolio | DWS CROCI<br> U.S. VIP,<br> Class A | DWS Equity<br> 500 Index<br> VIP,<br> Class A |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $1026 | $(8852) | $(484) | $(414) | $144697 | $391 | $2784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 11086 | 261051 | 76646 | 101119 |  | 6727 | 54445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | 2131 | (97844) | 41397 | (30788) | - | 579 | 10368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 14243 | 154355 | 117559 | 69917 | 144697 | 7697 | 67597 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 4548 | 77544 | 17069 | 24006 | 284766 | 4027 | 36384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (8122) | (87649) | (21187) | (31895) | (279655) | (3235) | (31602) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (3103) | (44508) | (56311) | (38157) | (317571) | (9442) | (56779) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | 5382 | 38025 | 7199 | 3109 | 39184 | 1678 | 9939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | (1295) | (16588) | (53230) | (42937) | (273276) | (6972) | (42058) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 12948 | 137767 | 64329 | 26980 | (128579) | 725 | 25539 |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 129772 | 2463379 | 818404 | 698651 | 4307373 | 53642 | 410750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $142720 | $2601146 | $882733 | $725631 | $4178794 | $54367 | $436289 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | DWS High<br> Income VIP,<br> Class A | DWS Small<br> Cap Index<br> VIP,<br> Class A | DWS Small<br> Mid Cap<br> Growth VIP,<br> Class A | DWS Small<br> Mid Cap Value<br> VIP,<br> Class A | Franklin<br> Global Real<br> Estate VIP<br> Fund,<br> Class 2 | Invesco V.I.<br> American<br> Franchise<br> Fund,<br> Series I | Invesco V.I.<br> Core Equity<br> Fund,<br> Series I |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $2546 | $7791 | $(460) | $613 | $7535 | $(16732) | $9948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | (129) | 50023 | 5508 | 12487 | (8451) | 512008 | 270579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | 868 | 48212 | 2523 | 6317 | 60025 | (16971) | 201881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 3285 | 106026 | 7571 | 19417 | 59109 | 478305 | 482408 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 3230 | 31240 | 2493 | 5724 | 45692 | 120664 | 103614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (3161) | (35086) | (5351) | (5618) | (29196) | (148911) | (105825) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (2076) | (20458) | (4689) |  | (31861) | (221336) | (95341) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | 936 | (4063) | 1949 | 873 | 34888 | (46224) | (28389) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | (1071) | (28367) | (5598) | 979 | 19523 | (295807) | (125941) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 2214 | 77659 | 1973 | 20396 | 78632 | 182498 | 356467 |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 39253 | 855090 | 102373 | 108644 | 821026 | 4474380 | 3172606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $41467 | $932749 | $104346 | $129040 | $899658 | $4656878 | $3529073 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Invesco V.I.<br> Discovery<br> Mid Cap<br> Growth Fund,<br> Series I | Invesco V.I.<br> Equity and<br> Income Fund,<br> Series I | Invesco V.I.<br> EQV<br> International<br> Equity Fund,<br> Series I | Invesco V.I.<br> Government<br> Securities<br> Fund,<br> Series I | Invesco V.I.<br> Technology<br> Fund,<br> Series I | MFS VIT<br> Growth Series,<br> Initial Class | MFS VIT II<br> High Yield<br> Portfolio,<br> Initial Class |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $(135) | $12944 | $12957 | $4030 | $(10905) | $(10925) | $5071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 2406 | 35719 | 80846 | (1497) | 383565 | 543735 | (972) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | (1089) | 38716 | 91922 | 7512 | 197524 | (206046) | 5205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 1182 | 87379 | 185725 | 10045 | 570184 | 326764 | 9304 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 1230 | 26942 | 51531 | 5636 | 76872 | 51555 | 4085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (622) | (30524) | (47541) | (3650) | (94706) | (70347) | (3796) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits |  | (44078) | (47766) | (10643) | (165096) | (46563) | (65088) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | (363) | 16380 | 21285 | 5416 | (78302) | (12370) | (71912) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | 245 | (31280) | (22491) | (3241) | (261232) | (77725) | (136711) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 1427 | 56099 | 163234 | 6804 | 308952 | 249039 | (127407) |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 26836 | 748567 | 1169794 | 147887 | 3044698 | 2820241 | 212465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $28263 | $804666 | $1333028 | $154691 | $3353650 | $3069280 | $85058 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2025

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | MFS VIT<br> Investors<br> Trust Series,<br> Initial Class | MFS VIT<br> Research<br> Series,<br> Initial Class | MFS VIT<br> Total<br> Return<br> Series,<br> Initial Class | MFS VIT<br> Value Series,<br> Initial Class | Templeton<br> Foreign VIP<br> Fund,<br> Class 2 | Templeton<br> Global Bond<br> VIP Fund,<br> Class 2 |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $5017 | $2828 | $30351 | $956 | $11943 | $(785) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 160535 | 125061 | 92324 | 6614 | 52529 | (2867) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | (117079) | (71028) | 9407 | 1845 | 94906 | 27235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 48473 | 56861 | 132082 | 9415 | 159378 | 23583 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 9810 | 12990 | 56714 | 2143 | 24490 | 10615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (13096) | (14455) | (58481) | (2149) | (25844) | (9408) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (5240) | (29633) | (41583) | (3789) | (35625) | (15650) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | (439) | (18957) | 39123 | (764) | (23904) | 8692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | (8965) | (50055) | (4227) | (4559) | (60883) | (5751) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 39508 | 6806 | 127855 | 4856 | 98495 | 17832 |
| NET ASSETS: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 371520 | 512202 | 1243865 | 76982 | 565086 | 152405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $411028 | $519008 | $1371720 | $81838 | $663581 | $170237 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Alger<br> Balanced<br> Portfolio,<br> Class I-2 | Alger Capital<br> Appreciation<br> Portfolio,<br> Class I-2 | Alger Growth <br> & Income<br> Portfolio,<br> Class I-2 | Alger Large<br> Cap Growth<br> Portfolio,<br> Class I-2 | Alger Mid Cap<br> Growth<br> Portfolio,<br> Class I-2 | Alger Small<br> Cap Growth<br> Portfolio,<br> Class I-2 | Allspring VT<br> Discovery<br> SMID Cap<br> Growth Fund,<br> Class 2 |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $(2149) | $(21425) | $3224 | $(11986) | $(12988) | $(659) | $(9393) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 4926 | 66852 | 99469 | 26951 | (39488) | (40674) | (95406) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | 63028 | 1973735 | 202902 | 1048695 | 614349 | 140048 | 501950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 65805 | 2019162 | 305595 | 1063660 | 561873 | 98715 | 397151 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 13811 | 103350 | 59680 | 72850 | 118511 | 51564 | 72024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (11040) | (125266) | (72444) | (91227) | (115742) | (47343) | (83005) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (5886) | (228204) | (216917) | (72352) | (206871) | (53177) | (125969) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | (3431) | (256571) | (13886) | (267379) | (51422) | 10556 | (53942) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | (6546) | (506691) | (243567) | (358108) | (255524) | (38400) | (190892) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 59259 | 1512471 | 62028 | 705552 | 306349 | 60315 | 206259 |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 403608 | 4365958 | 1473925 | 2612634 | 2824987 | 1294323 | 2289220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $462867 | $5878429 | $1535953 | $3318186 | $3131336 | $1354638 | $2495479 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Allspring VT<br> Index Asset<br> Allocation<br> Fund, Class 2 | Allspring VT<br> International<br> Equity <br> Fund, Class 1 | Allspring VT<br> Opportunity<br> Fund, Class 2 | BNY Mellon<br> Sustainable<br> U.S. Equity<br> Portfolio, Inc., <br> Initial Shares | BNY <br> Mellon VIF<br> Appreciation<br> Portfolio,<br> Initial Shares | BNY <br> Mellon VIF<br> Government<br> Money<br> Market<br> Portfolio | DWS CROCI <br> U.S. VIP,<br> Class A |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $1013 | $7190 | $(8742) | $1555 | $10 | $167284 | $521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 7274 | (104158) | 243555 | 14592 | 40631 |  | 925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | 8098 | 100741 | 87620 | 147089 | 43444 | - | 6593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 16385 | 3773 | 322433 | 163236 | 84085 | 167284 | 8039 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 4705 | 5815 | 80550 | 17700 | 26373 | 294315 | 3987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (7727) | (4403) | (90948) | (21807) | (31693) | (284999) | (3350) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (848) | (1449) | (111272) | (32040) | (73328) | (147980) | (1235) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | 4915 | (346726) | (11781) | (6481) | (2832) | 762542 | (1407) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | 1045 | (346763) | (133451) | (42628) | (81480) | 623878 | (2005) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 17430 | (342990) | 188982 | 120608 | 2605 | 791162 | 6034 |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 112342 | 342990 | 2274397 | 697796 | 696046 | 3516211 | 47608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $129772 | $- | $2463379 | $818404 | $698651 | $4307373 | $53642 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | DWS Equity<br> 500 Index<br> VIP, Class A | DWS High<br> Income VIP,<br> Class A | DWS Small<br> Cap Index<br> VIP, Class A | DWS Small<br> Mid Cap<br> Growth VIP,<br> Class A | DWS Small<br> Mid Cap <br> Value VIP,<br> Class A | Franklin<br> Global Real<br> Estate VIP<br> Fund, Class 2 | Invesco V.I.<br> American<br> Franchise<br> Fund, Series I |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $2851 | $2041 | $5913 | $(467) | $918 | $11460 | $(15521) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 29148 | (109) | 22283 | 382 | 5857 | (8915) | 36770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | 46551 | 532 | 58184 | 4781 | (675) | (5623) | 1175782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 78550 | 2464 | 86380 | 4696 | 6100 | (3078) | 1197031 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 33677 | 2782 | 32235 | 2984 | 5891 | 46663 | 128383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (30827) | (2984) | (35660) | (5568) | (5524) | (30424) | (151202) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (275) |  | (16966) |  | (7051) | (41509) | (203312) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | 11056 | 585 | (4469) | (10) | (15098) | 18730 | (139836) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | 13631 | 383 | (24860) | (2594) | (21782) | (6540) | (365967) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 92181 | 2847 | 61520 | 2102 | (15682) | (9618) | 831064 |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 318569 | 36406 | 793570 | 100271 | 124326 | 830644 | 3643316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $410750 | $39253 | $855090 | $102373 | $108644 | $821026 | $4474380 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | Invesco V.I.<br> Core Equity<br> Fund, Series I | Invesco V.I.<br> Discovery<br> Mid Cap<br> Growth<br> Fund, Series I | Invesco V.I.<br> Equity and<br> Income <br> Fund, Series I | Invesco V.I.<br> EQV<br> International<br> Equity<br> Fund, Series I | Invesco V.I.<br> Government<br> Securities<br> Fund, Series I | Invesco V.I.<br> Technology<br> Fund, Series I | MFS VIT<br> Growth Series,<br> Initial Class |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $10234 | $(172) | $10331 | $15937 | $3164 | $(10152) | $(10153) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | 256947 | 747 | 25488 | 10092 | (476) | 119931 | 262505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | 390856 | 7632 | 42745 | (23756) | (767) | 726867 | 456561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 658037 | 8207 | 78564 | 2273 | 1921 | 836646 | 708913 |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 106709 | 1477 | 27821 | 53116 | 5691 | 80183 | 53418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (107675) | (754) | (30354) | (47590) | (3525) | (94458) | (69720) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (156995) | (18774) | (13243) | (33942) | (1027) | (224850) | (222074) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | (8745) | (438) | 12946 | 48271 | 6454 | (167650) | (4330) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | (166706) | (18489) | (2830) | 19855 | 7593 | (406775) | (242706) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 491331 | (10282) | 75734 | 22128 | 9514 | 429871 | 466207 |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 2681275 | 37118 | 672833 | 1147666 | 138373 | 2614827 | 2354034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $3172606 | $26836 | $748567 | $1169794 | $147887 | $3044698 | $2820241 |

---

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

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

(Continued)

See accompanying notes to financial statements.

**TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT**

STATEMENTS OF CHANGES IN NET ASSETS

FOR THE YEAR OR PERIOD ENDED DECEMBER 31, 2024

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS | SUBACCOUNTS |
|  | MFS VIT II<br> High Yield<br> Portfolio,<br> Initial Class | MFS VIT<br> Investors<br> Trust Series,<br> Initial Class | MFS VIT<br> Research<br> Series, <br> Initial Class | MFS VIT<br> Total Return<br> Series, <br> Initial Class | MFS VIT<br> Value Series,<br> Initial Class | Templeton<br> Foreign VIP<br> Fund, Class 2 | Templeton<br> Global Bond<br> VIP Fund,<br> Class 2 |
| INCREASE (DECREASE) IN NET ASSETS: |  |  |  |  |  |  |  |
| OPERATIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $11929 | $1211 | $959 | $25626 | $920 | $11284 | $(789) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized gain (loss) on investments | (944) | 30250 | 33195 | 60817 | 6412 | 1932 | (4823) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in net unrealized appreciation (depreciation) on investments | (1722) | 28465 | 48681 | (388) | 1173 | (21344) | (14767) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in net assets resulting from operations | 9263 | 59926 | 82835 | 86055 | 8505 | (8128) | (20379) |
| POLICY TRANSACTIONS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' net payments | 4407 | 9231 | 14357 | 58302 | 2402 | 25722 | 11463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy maintenance charges | (4080) | (12775) | (15409) | (58318) | (2331) | (24223) | (9540) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Policy owners' benefits | (6107) | (15810) | (26116) | (59796) |  | (11210) | (15299) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net transfers (to) from the Company and/or Subaccounts | 134196 | 14454 | (14469) | 22707 | (9651) | 29190 | 15890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in net assets resulting from Policy transactions | 128416 | (4900) | (41637) | (37105) | (9580) | 19479 | 2514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total increase (decrease) in net assets | 137679 | 55026 | 41198 | 48950 | (1075) | 11351 | (17865) |
| NET ASSETS: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of period | 74786 | 316494 | 471004 | 1194915 | 78057 | 553735 | 170270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | $212465 | $371520 | $512202 | $1243865 | $76982 | $565086 | $152405 |

---

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

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

(Concluded)

See accompanying notes to financial statements.

TITANIUM UNIVERSAL LIFE VARIABLE ACCOUNT

NOTES TO FINANCIAL STATEMENTS<br> YEAR ENDED DECEMBER 31, 2025

1. ORGANIZATION

The Titanium Universal Life Variable Account (the "Separate Account"), a segregated unit investment trust registered under the Investment Company Act of 1940, as amended, was established by United Investors Life Insurance Company, and exists in accordance with the regulations of the Alabama Department of Insurance. United Investors Life Insurance Company was a wholly owned subsidiary of Torchmark Corporation and was acquired by Protective Life Insurance Company (the "Company"). Protective Life Insurance Company is a wholly owned subsidiary of Protective Life Corporation ("PLC"). PLC is a wholly owned subsidiary of Dai-ichi Life International Holding, LLC, a *godo kaisha* organized under the laws of Japan.

Under applicable insurance law, the assets and liabilities of the Separate Account are clearly identified and distinguished from the Company's other assets and liabilities. The portion of the Separate Account's assets applicable to the variable life policies (the "Policies") is not chargeable with liabilities arising out of any other business the Company may conduct.

The Separate Account is a funding vehicle for individual variable life insurance Policies; it consists of a number of Subaccounts (the "Subaccounts"), also commonly referred to as investment divisions or funds, each of which is treated as an individual accounting entity for financial reporting purposes. The Separate Account's value at any time is allocated among Policy owners based on the number and value of their units representing their interest in the Subaccounts of the Separate Account; all of the investible assets of the Separate Account are invested in the corresponding mutual funds.

The Separate Account has identified the Chief Product Officer – Protection Division as the chief operating decision maker ("CODM"). The Separate Account is comprised of multiple Subaccounts, each of which constitutes an operating segment. The CODM uses significant performance measures of the Subaccounts, such as the total return ratio, investment income ratio, and expense ratio to make operational decisions for the Separate Account. Segment assets are reflected on the Statements of Assets and Liabilities as Total assets, and significant segment expenses are listed on the Statements of Operations.

Policy owners may allocate some or all of the applicable net payments or transfer some or all of the Policy value to the Company's guaranteed account, which is not included in these financial statements. The assets of the Company support its insurance and annuity obligations and are subject to the Company's general liabilities from business operations.

Policy owners' net payments are allocated to the Subaccounts in accordance with Policy owner instructions and are recorded as Policy owners' net payments in the Statements of Changes in Net Assets. Such amounts are used to provide account funds to pay Policy values under the Policies. New Policies are no longer being sold under the products in the Separate Account, but owners of existing Policies may make additional deposits.

The following is the variable life insurance product funded by the Separate Account:

Titanium Variable Universal Life

For the years or periods ended December 31, 2025 and 2024, the Separate Account offered up to 35 available Subaccount investment options, as follows:

Alger Balanced Portfolio, Class I-2

Alger Capital Appreciation Portfolio, Class I-2

Alger Growth & Income Portfolio, Class I-2

Alger Large Cap Growth Portfolio, Class I-2

Alger Mid Cap Growth Portfolio, Class I-2

Alger Small Cap Growth Portfolio, Class I-2

Allspring VT Discovery SMID Cap Growth Fund, Class 2

Allspring VT Index Asset Allocation Fund, Class 2

Allspring VT International Equity Fund, Class 1<sup>(a)</sup>

Allspring VT Opportunity Fund, Class 2

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

BNY Mellon VIF Appreciation Portfolio, Initial Shares

BNY Mellon VIF Government Money Market Portfolio

DWS CROCI U.S. VIP, Class A

DWS Equity 500 Index VIP, Class A

DWS High Income VIP, Class A

DWS Small Cap Index VIP, Class A

DWS Small Mid Cap Growth VIP, Class A

DWS Small Mid Cap Value VIP, Class A

Franklin Global Real Estate VIP Fund, Class 2

Invesco V.I. American Franchise Fund, Series I

Invesco V.I. Core Equity Fund, Series I

Invesco V.I. Discovery Mid Cap Growth Fund, Series I

Invesco V.I. Equity and Income Fund, Series I

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

Invesco V.I. Government Securities Fund, Series I

Invesco V.I. Technology Fund, Series I

MFS VIT Growth Series, Initial Class

MFS VIT II High Yield Portfolio, Initial Class

MFS VIT Investors Trust Series, Initial Class

MFS VIT Research Series, Initial Class

MFS VIT Total Return Series, Initial Class

MFS VIT Value Series, Initial Class

Templeton Foreign VIP Fund, Class 2

Templeton Global Bond VIP Fund, Class 2

<sup>(a)</sup> See Subaccount Change table below

---

| | |
|:---|:---|
| Subaccount Change: Liquidation |  |
| During 2024, the following Subaccount was liquidated: |  |
| Subaccount Name | Date of Liquidation |
| Allspring VT International Equity Fund, Class 1 | April 29, 2024 |

---

The financial statements are presented based on the period noted in the above Subaccount Changes table which may result in the exclusion from certain financial statements.

The Separate Account is an investment company and, therefore, applies specialized accounting guidance in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 "Financial Services — Investment Companies".

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of the significant accounting policies of the Separate Account.

<u>Investment valuation</u>

Investments are made and measured in shares and are presented net of management fees and other operating expenses incurred by the Subaccounts. The investments are valued at the net asset values of the mutual funds, which value their investment securities at fair value. Transactions with the mutual funds are recognized on the trade date.

The Separate Account classifies its valuations into three levels based upon the observability of inputs to the valuation of the Separate Account's investments. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels:

Level 1 – Unadjusted quoted prices for identical securities in active markets.

Level 2 – Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly. These may include quoted prices for similar assets in active markets.

Level 3 – Unobservable inputs to the extent observable inputs are not available and may include prices obtained from single broker quotes. Unobservable inputs reflect the reporting entity's own assumptions and would be based on the best information available under the circumstances.

The Separate Account determines the fair values of certain financial assets based on quoted market prices. All of the investments in the Subaccounts of the Separate Account are classified as Level 1 in the fair value hierarchy and consist of open-ended mutual funds. Participants may, without restriction, transact at the daily net asset value ("NAV") of the mutual funds. The NAV represents the daily per share value based on the fair value of the underlying portfolio of investments of the respective Subaccounts.

<u>Receivables and payables from (to) the Policies and the fund manager</u>

Receivables and payables from (to) the Policies and the fund manager include trading activity initiated at the Policy level from the last business day of the year that has not yet been settled with the fund manager.

<u>Receivable from dividends</u>

Receivable from dividends include dividends declared by the fund managers that have not yet been reinvested in accordance with the Subaccounts' designated reinvestment dates.

<u>Receivables and payables from (to) the Company</u>

Receivables and payables from (to) the Company include accruals for the variance between investments and reserves applicable to the Subaccount.

<u>Dividend income and capital gain distributions</u>

Dividend income and capital gain distributions are recorded on the ex-dividend date and are reinvested in additional shares of the mutual funds. Ordinary dividend and capital gain distributions are recognized within net investment income and net realized gains, respectively, as recorded in the financial statements of the Subaccounts.

<u>Net realized gains and losses</u>

Net realized gains and losses on investments include gains and losses on redemptions of the Subaccounts' shares (determined for each product using a weighted average cost basis) and capital gain distributions from the mutual funds.

<u>Net transfers (to) from the Company and/or Subaccounts</u>

Net transfers (to) from the Company and Subaccounts include transfers between the Subaccounts of the Separate Account as well as transfers between the Separate Account and the Company.

<u>Federal income taxes</u>

The results of the operations of the Separate Account are included in the federal income tax return of the Company. Under the provisions of the Policies, the Company has the right to charge the Separate Account for federal income tax attributable to the Separate Account. No charge has been made against the Separate Account for such tax during the year ended December 31, 2025. Management will periodically review the application of this policy in the event of changes in tax law. Accordingly, a change may be made in future years to consider charges for any federal income taxes that would be attributable to the Policies.

<u>Use of estimates</u>

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) requires management to make estimates and assumptions that could affect the reported amounts of assets and liabilities, as well as the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from the estimates reported in the accompanying financial statements.

<u>Risks and uncertainties</u>

The Separate Account provides for various investment options in any combination of Subaccounts, each of which bears exposure to the market, credit, and liquidity risks of the underlying portfolio in which it invests. Due to the level of risk associated with certain investments and the level of uncertainty related to changes in the value of investments, it is at least reasonably possible that changes in risks in the near term could materially affect investment balances, the amounts reported in the statements of assets and liabilities, of operations and of changes in net assets. Accordingly, these financial statements should be read in conjunction with the financial statements and notes of the underlying Subaccounts identified in note 1, Organization.

3. PURCHASES AND SALES OF INVESTMENTS <br>The cost of purchases and proceeds from sales of investments for the year or period ended (as designated in note 1, Organization, if applicable) December 31, 2025 were as follows:

---

| | | |
|:---|:---|:---|
| Subaccount | Purchases | Sales |
| Alger Balanced Portfolio, Class I-2 | $87259 | $69265 |
| Alger Capital Appreciation Portfolio, Class I-2 | 1204036 | 498527 |
| Alger Growth & Income Portfolio, Class I-2 | 248698 | 199287 |
| Alger Large Cap Growth Portfolio, Class I-2 | 463256 | 390704 |
| Alger Mid Cap Growth Portfolio, Class I-2 | 57596 | 275385 |
| Alger Small Cap Growth Portfolio, Class I-2 | 109715 | 94260 |
| Allspring VT Discovery SMID Cap Growth Fund, Class 2 | 153345 | 170486 |
| Allspring VT Index Asset Allocation Fund, Class 2 | 22751 | 11328 |
| Allspring VT Opportunity Fund, Class 2 | 347264 | 113060 |
| BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares | 111794 | 95596 |
| BNY Mellon VIF Appreciation Portfolio, Initial Shares | 197360 | 126236 |
| BNY Mellon VIF Government Money Market Portfolio | 698992 | 831780 |
| DWS CROCI U.S. VIP, Class A | 9479 | 11932 |
| DWS Equity 500 Index VIP, Class A | 89110 | 90730 |
| DWS High Income VIP, Class A | 7161 | 5686 |
| DWS Small Cap Index VIP, Class A | 102706 | 73302 |
| DWS Small Mid Cap Growth VIP, Class A | 13950 | 12640 |
| DWS Small Mid Cap Value VIP, Class A | 18949 | 4745 |
| Franklin Global Real Estate VIP Fund, Class 2 | 102857 | 75798 |
| Invesco V.I. American Franchise Fund, Series I | 533996 | 423401 |
| Invesco V.I. Core Equity Fund, Series I | 367370 | 248788 |
| Invesco V.I. Discovery Mid Cap Growth Fund, Series I | 3483 | 1036 |
| Invesco V.I. Equity and Income Fund, Series I | 100937 | 78494 |
| Invesco V.I. EQV International Equity Fund, Series I | 169253 | 97846 |
| Invesco V.I. Government Securities Fund, Series I | 19166 | 18378 |
| Invesco V.I. Technology Fund, Series I | 434219 | 348791 |
| MFS VIT Growth Series, Initial Class | 565199 | 129509 |
| MFS VIT II High Yield Portfolio, Initial Class | 22213 | 153854 |
| MFS VIT Investors Trust Series, Initial Class | 173471 | 16972 |
| MFS VIT Research Series, Initial Class | 133891 | 63551 |
| MFS VIT Total Return Series, Initial Class | 207444 | 92156 |
| MFS VIT Value Series, Initial Class | 8927 | 6563 |
| Templeton Foreign VIP Fund, Class 2 | 86799 | 94053 |
| Templeton Global Bond VIP Fund, Class 2 | 15698 | 22233 |

---

4. CHANGES IN UNITS OUTSTANDING

The changes in units outstanding for the years or periods ended (as designated in note 1, Organization, if applicable) December 31, 2025 and 2024 were as follows:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | 2025 | 2025 | 2025 | 2024 | 2024 | 2024 |
| Subaccount | Units <br> Issued | Units<br> Redeemed | Net<br> Increase<br> (Decrease) | Units <br> Issued | Units<br> Redeemed | Net<br> Increase<br> (Decrease) |
| Alger Balanced Portfolio, Class I-2 | 694 | 1711 | (1017) | 370 | 597 | (227) |
| Alger Capital Appreciation Portfolio, Class I-2 | 739 | 13255 | (12516) | 1217 | 20786 | (19569) |
| Alger Growth & Income Portfolio, Class I-2 | 1105 | 5297 | (4192) | 1421 | 8389 | (6968) |
| Alger Large Cap Growth Portfolio, Class I-2 | 1148 | 11430 | (10282) | 727 | 17320 | (16593) |
| Alger Mid Cap Growth Portfolio, Class I-2 | 2186 | 8506 | (6320) | 2859 | 11972 | (9113) |
| Alger Small Cap Growth Portfolio, Class I-2 | 5266 | 6263 | (997) | 3395 | 4833 | (1438) |
| Allspring VT Discovery SMID Cap Growth Fund, Class 2 | 7812 | 6065 | 1747 | 5274 | 20110 | (14836) |
| Allspring VT Index Asset Allocation Fund, Class 2 | 255 | 289 | (34) | 232 | 196 | 36 |
| Allspring VT International Equity Fund, Class 1 |  |  |  | 464 | 19761 | (19297) |
| Allspring VT Opportunity Fund, Class 2 | 2898 | 2781 | 117 | 1936 | 6291 | (4355) |
| BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares | 1328 | 3876 | (2548) | 432 | 1984 | (1552) |
| BNY Mellon VIF Appreciation Portfolio, Initial Shares | 2066 | 2876 | (810) | 1022 | 4535 | (3513) |
| BNY Mellon VIF Government Money Market Portfolio | 43068 | 67575 | (24507) | 92586 | 37806 | 54780 |
| DWS CROCI U.S. VIP, Class A | 169 | 588 | (419) | 116 | 194 | (78) |
| DWS Equity 500 Index VIP, Class A | 678 | 1937 | (1259) | 859 | 745 | 114 |
| DWS High Income VIP, Class A | 238 | 262 | (24) | 166 | 132 | 34 |
| DWS Small Cap Index VIP, Class A | 1333 | 1776 | (443) | 921 | 1336 | (415) |
| DWS Small Mid Cap Growth VIP, Class A | 246 | 566 | (320) | 130 | 361 | (231) |
| DWS Small Mid Cap Value VIP, Class A | 174 | 171 | 3 | 191 | 1211 | (1020) |
| Franklin Global Real Estate VIP Fund, Class 2 | 4696 | 3884 | 812 | 4370 | 4396 | (26) |
| Invesco V.I. American Franchise Fund, Series I | 3882 | 15223 | (11341) | 1917 | 18570 | (16653) |
| Invesco V.I. Core Equity Fund, Series I | 3801 | 9404 | (5603) | 3805 | 12372 | (8567) |
| Invesco V.I. Discovery Mid Cap Growth Fund, Series I | 67 | 51 | 16 | 87 | 1189 | (1102) |
| Invesco V.I. Equity and Income Fund, Series I | 3386 | 5987 | (2601) | 2500 | 2734 | (234) |
| Invesco V.I. EQV International Equity Fund, Series I | 3553 | 5265 | (1712) | 5522 | 3937 | 1585 |
| Invesco V.I. Government Securities Fund, Series I | 996 | 1253 | (257) | 822 | 283 | 539 |
| Invesco V.I. Technology Fund, Series I | 3596 | 17796 | (14200) | 2602 | 27078 | (24476) |
| MFS VIT Growth Series, Initial Class | 1711 | 4716 | (3005) | 1751 | 10938 | (9187) |
| MFS VIT II High Yield Portfolio, Initial Class | 1067 | 12199 | (11132) | 11669 | 596 | 11073 |
| MFS VIT Investors Trust Series, Initial Class | 254 | 515 | (261) | 646 | 1022 | (376) |
| MFS VIT Research Series, Initial Class | 455 | 1554 | (1099) | 555 | 2280 | (1725) |
| MFS VIT Total Return Series, Initial Class | 3450 | 3944 | (494) | 2853 | 3458 | (605) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | 2025 | 2025 | 2025 | 2024 | 2024 | 2024 |
| Subaccount | Units <br> Issued | Units<br> Redeemed | Net<br> Increase<br> (Decrease) | Units <br> Issued | Units<br> Redeemed | Net<br> Increase<br> (Decrease) |
| MFS VIT Value Series, Initial Class | 52 | 157 | (105) | 251 | 868 | (617) |
| Templeton Foreign VIP Fund, Class 2 | 1515 | 4041 | (2526) | 2280 | 1293 | 987 |
| Templeton Global Bond VIP Fund, Class 2 | 857 | 1218 | (361) | 1359 | 1367 | (8) |

---

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

5. EXPENSES AND RELATED PARTY TRANSACTIONS

The fees and charges below are the current expenses deducted by Subaccount from either the net unit value or from the Policy as a redemption of units. Fees and charges may vary based on factors such as face amount, gender, age at issue of the insured, age at issue of the joint insured, insurance rate classification and smoking status, death benefit option selected, insured's age at time of face increase, and/or age of the Policy. The fees and charges are recorded, as applicable, to the respective Subaccount in the Separate Account. Redemption of units deductions are made to the individual Policies in accordance with the terms which govern each life insurance policy, as set forth in the Policy.

---

| | |
|:---|:---|
| **Expense Type** | **Range** |
| **Mortality and Expense Risk Fee** |  |
| This fee is assessed to reimburse the Company for assuming mortality and expense risks. The fee is deducted daily, assessed through a reduction of net unit values, and recorded as Mortality and expense risk in the Statements of Operations. | a daily fee amounting to a per annum aggregate of 0.00% - 0.75% of the average daily net assets of the Subaccounts |
| **Administrative Charge** |  |
| This charge is assessed to reimburse the Company for expenses incurred in the administration of the Policy and the Separate Account. The charge is deducted monthly, assessed through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets, if applicable. | $6 - $30 per month |
| **Surrender Charge** |  |
| This charge is assessed to reimburse the Company for some of the costs of distributing the Policies. The charge is a percent of the Policy's face and based on the number of full years which have elapsed between the date the Policy was issued and the surrender date, assessed through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets. | $0 - $4 per $1,000 of the Policy's face amount, plus 0% - 46% of premiums paid up to one target premium, plus 0% - 44% of premiums paid above one target premium and up to two target premiums, plus 0% - 5% of premium paid above two target premiums |
| **Withdrawal Charge** |  |
| This charge is assessed to reimburse the Company for costs incurred from withdrawals. The charge is deducted upon withdrawal, assessed through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets. | $25 per withdrawal or 2.00% of the amount withdrawn, whichever is less, after the first partial withdrawal in the same Policy year |

---

---

| | |
|:---|:---|
| **Expense Type** | **Range** |
| **Charge for Optional Benefits** |  |
| This charge is assessed to reimburse the Company for costs and risks stemming from optional living and/or death benefits elected by the Policy owner. The charge is deducted monthly, assessed through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets. | $0.03 - $83.33 per $1,000 of rider coverage<br> $0.005 - $0.01 per $1,000 of base face amount <br> $0.02 - $0.30 per $1.00 of monthly deductions for other benefits <br> $0.02 - $0.13 per $1.00 of specified premium to be waived |
| **Cost of Insurance Charge (COI)** |  |
| This charge is assessed to reimburse the Company for the cost of providing the death benefit. The charge is assessed on the Policy's monthly anniversary day, assessed through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets. | $0.02 - $83.33 per $1,000 of net amount at risk per month |
| **Premium Expense Charge** |  |
| This charge is assessed to reimburse the Company for expenses incurred associated with the sales and distribution of the Policies. The charge is assessed on each premium payment received until premiums paid equal 10 times the target premium for the Policy, deducted through a redemption of units, and recorded as Policy maintenance charges within the Statements of Changes in Net Assets. | 0.00% - 4.00% of each premium received |
| **Loan Interest Rate Spread** |  |
| The loan interest rate spread is the difference between the amount of interest charged on outstanding loan balances and the amount of interest credited to amounts held in the guaranteed account that secures the loans. The charge is deducted annually, assessed through a redemption of units, and recorded as Policy owners' benefits within the Statements of Changes in Net Assets. | 0.0% - 0.75% of the loan balance |
| **Transfer Charge** |  |
| This charge is assessed to reimburse the Company for costs incurred when transferring funds. The charge is deducted upon transfer, assessed through a redemption of units, and recorded as Policy owners' benefits within the Statements of Changes in Net Assets. | $25 per transfer, after the first 12 transfers in any Policy year |

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The Company offers a loan privilege to certain Policy owners. Such Policy owners may obtain loans using the Policy's value as the only security for the loan. Loans are subject to provisions of The Internal Revenue Code of 1986, as amended.

6. FINANCIAL HIGHLIGHTS

The Company sells a variable life product that is funded by the Separate Account. This product has a unique combination of features and expenses that are charged against the Policy owner's account. Differences in the expense structures result in a variety of unit values, expense ratios and total returns. The following tables were developed by determining which products offered by the Company and funded by the Separate Account have the highest and lowest expense ratios. The summaries may not reflect or directly equate to the minimum and maximum Policy expenses offered by the Company, as Policy owners may not have selected all available and applicable Policy options for or during the periods presented.

A summary of the units outstanding, unit fair values, net assets for variable life Policies, investment income ratios, the expense ratios, excluding expenses of the underlying Subaccounts, and total returns for each of the five years or periods ended December 31, 2025 is as follows:

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | As of December 31 | As of December 31 | As of December 31 | As of December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 |
| Subaccount | Units <br> (000's) | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Net Assets<br> (000's) | Investment<br> Income<br> Ratio <sup>(a)</sup> | Expense Ratios <sup>(b)</sup> | Expense Ratios <sup>(b)</sup> | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios |
|  |  | Low | High |  |  | Low | High | Low | High |
| Alger Balanced Portfolio, Class I-2 | Alger Balanced Portfolio, Class I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 12 | $18.53 | $42.97 | $493 | 2.75% | 0.25% | 0.50% | 15.86% | 15.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 13 | 15.99 | 37.18 | 463 | 0.00% | 0.25% | 0.50% | 16.77% | 16.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 13 | 13.70 | 31.92 | 404 | 1.48% | 0.25% | 0.50% | 17.14% | 16.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 13 | 11.69 | 27.32 | 346 | 1.13% | 0.25% | 0.50% | (11.53)% | (11.75)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 14 | 13.22 | 30.96 | 428 | 0.90% | 0.25% | 0.50% | 18.53% | 18.82% |
| Alger Capital Appreciation Portfolio, Class I-2 | Alger Capital Appreciation Portfolio, Class I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 151 | 25.40 | 101.60 | 7283 | 0.00% | 0.25% | 0.75% | 32.54% | 31.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 164 | 19.17 | 77.04 | 5878 | 0.00% | 0.25% | 0.75% | 47.76% | 47.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 183 | 12.97 | 52.40 | 4366 | 0.00% | 0.25% | 0.75% | 42.77% | 42.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 190 | 9.08 | 36.88 | 3177 | 0.00% | 0.25% | 0.75% | (36.68)% | (36.99)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 173 | 14.35 | 60.24 | 5027 | 0.00% | 0.25% | 0.75% | 18.24% | 18.83% |
| Alger Growth & Income Portfolio, Class I-2 | Alger Growth & Income Portfolio, Class I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 50 | 24.07 | 54.63 | 1684 | 1.58% | 0.25% | 0.75% | 20.52% | 19.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 54 | 19.97 | 45.55 | 1536 | 0.60% | 0.25% | 0.75% | 22.36% | 21.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 61 | 16.32 | 37.42 | 1474 | 1.39% | 0.25% | 0.75% | 23.62% | 23.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 68 | 13.20 | 30.42 | 1321 | 1.33% | 0.25% | 0.75% | (15.19)% | (15.61)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 63 | 15.57 | 37.09 | 1715 | 1.18% | 0.25% | 0.75% | 30.68% | 31.33% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | As of December 31 | As of December 31 | As of December 31 | As of December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 |
| Subaccount | Units <br> (000's) | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Net Assets<br> (000's) | Investment<br> Income<br> Ratio <sup>(a)</sup> | Expense Ratios <sup>(b)</sup> | Expense Ratios <sup>(b)</sup> | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios |
|  |  | Low | High |  |  | Low | High | Low | High |
| Alger Large Cap Growth Portfolio, Class I-2 | Alger Large Cap Growth Portfolio, Class I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 111 | $22.02 | $61.63 | $3915 | 0.00% | 0.25% | 0.75% | 29.94% | 29.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 121 | 16.94 | 47.66 | 3318 | 0.00% | 0.25% | 0.75% | 42.53% | 41.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 138 | 11.89 | 33.61 | 2613 | 0.00% | 0.25% | 0.75% | 32.34% | 31.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 144 | 8.98 | 25.52 | 2072 | 0.00% | 0.25% | 0.75% | (38.81)% | (39.11)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 118 | 14.68 | 43.13 | 3331 | 0.00% | 0.25% | 0.75% | 11.01% | 11.56% |
| Alger Mid Cap Growth Portfolio, Class I-2 | Alger Mid Cap Growth Portfolio, Class I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 108 | 16.13 | 52.38 | 3425 | 0.00% | 0.25% | 0.75% | 16.47% | 15.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 115 | 13.85 | 45.19 | 3131 | 0.00% | 0.25% | 0.75% | 20.76% | 20.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 124 | 11.47 | 37.61 | 2825 | 0.00% | 0.25% | 0.75% | 22.87% | 22.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 129 | 9.33 | 30.76 | 2370 | 0.00% | 0.25% | 0.75% | (36.23)% | (36.55)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 109 | 14.63 | 49.89 | 3581 | 0.00% | 0.25% | 0.75% | 3.43% | 3.94% |
| Alger Small Cap Growth Portfolio, Class I-2 | Alger Small Cap Growth Portfolio, Class I-2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 69 | 9.87 | 32.59 | 1437 | 0.00% | 0.25% | 0.75% | 5.65% | 5.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 70 | 9.34 | 31.00 | 1355 | 0.39% | 0.25% | 0.75% | 7.86% | 7.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 71 | 8.66 | 28.89 | 1294 | 0.00% | 0.25% | 0.75% | 16.20% | 15.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 71 | 7.45 | 24.99 | 1106 | 0.00% | 0.25% | 0.75% | (38.17)% | (38.47)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 58 | 12.05 | 41.79 | 1727 | 0.00% | 0.25% | 0.75% | (6.76)% | (6.29)% |
| Allspring VT Discovery SMID Cap Growth Fund, Class 2 | Allspring VT Discovery SMID Cap Growth Fund, Class 2 | Allspring VT Discovery SMID Cap Growth Fund, Class 2 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 135 | 12.50 | 37.73 | 2595 | 0.00% | 0.25% | 0.75% | 5.12% | 4.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 133 | 11.89 | 36.07 | 2495 | 0.00% | 0.25% | 0.75% | 17.84% | 17.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 148 | 10.09 | 30.76 | 2289 | 0.00% | 0.25% | 0.75% | 19.84% | 19.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 148 | 8.42 | 25.80 | 1916 | 0.00% | 0.25% | 0.75% | (38.00)% | (38.31)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 129 | 13.58 | 43.03 | 3031 | 0.00% | 0.25% | 0.75% | (5.75)% | (5.28)% |
| Allspring VT Index Asset Allocation Fund, Class 2 | Allspring VT Index Asset Allocation Fund, Class 2 | Allspring VT Index Asset Allocation Fund, Class 2 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 4 | 15.86 | 39.69 | 143 | 1.24% | 0.25% | 0.50% | 11.20% | 10.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 4 | 14.26 | 35.78 | 130 | 1.32% | 0.25% | 0.50% | 14.58% | 14.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 4 | 12.45 | 31.30 | 112 | 0.96% | 0.25% | 0.50% | 16.41% | 16.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 4 | 10.69 | 26.96 | 106 | 0.60% | 0.25% | 0.50% | (17.23)% | (17.44)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 4 | 12.92 | 32.65 | 131 | 0.16% | 0.25% | 0.50% | 15.42% | 15.71% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | As of December 31 | As of December 31 | As of December 31 | As of December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 |
| Subaccount | Units <br> (000's) | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Net Assets<br> (000's) | Investment<br> Income<br> Ratio <sup>(a)</sup> | Expense Ratios <sup>(b)</sup> | Expense Ratios <sup>(b)</sup> | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios |
|  |  | Low | High |  |  | Low | High | Low | High |
| Allspring VT International Equity Fund, Class 1 | Allspring VT International Equity Fund, Class 1 | Allspring VT International Equity Fund, Class 1 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 |  | $13.77 | $18.46 | $- | 2.18% | 0.25% | 0.75% | 1.14% | 0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 19 | 13.62 | 18.28 | 343 | 1.77% | 0.25% | 0.75% | 15.52% | 14.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 21 | 11.79 | 15.91 | 326 | 3.89% | 0.25% | 0.75% | (11.70)% | (12.14)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 23 | 13.35 | 18.63 | 404 | 1.33% | 0.25% | 0.75% | 6.59% | 7.12% |
| Allspring VT Opportunity Fund, Class 2 | Allspring VT Opportunity Fund, Class 2 | Allspring VT Opportunity Fund, Class 2 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 76 | 19.05 | 63.14 | 2601 | 0.05% | 0.25% | 0.75% | 6.45% | 5.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 76 | 17.90 | 59.61 | 2463 | 0.05% | 0.25% | 0.75% | 14.76% | 14.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 80 | 15.60 | 52.20 | 2274 | 0.00% | 0.25% | 0.75% | 26.18% | 25.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 85 | 12.36 | 41.58 | 1916 | 0.00% | 0.25% | 0.75% | (21.00)% | (21.40)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 76 | 15.65 | 54.43 | 2624 | 0.04% | 0.25% | 0.75% | 23.85% | 24.47% |
| BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares | BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares | BNY Mellon Sustainable U.S. Equity Portfolio, Inc., Initial Shares |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 36 | 20.71 | 42.98 | 883 | 0.26% | 0.25% | 0.50% | 15.68% | 15.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 39 | 17.90 | 37.25 | 818 | 0.53% | 0.25% | 0.50% | 24.58% | 24.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 40 | 14.37 | 29.97 | 698 | 0.73% | 0.25% | 0.50% | 23.51% | 23.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 42 | 11.64 | 24.33 | 586 | 0.49% | 0.25% | 0.50% | (23.06)% | (23.26)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 37 | 15.12 | 31.70 | 782 | 0.76% | 0.25% | 0.50% | 26.37% | 26.68% |
| BNY Mellon VIF Appreciation Portfolio, Initial Shares | BNY Mellon VIF Appreciation Portfolio, Initial Shares | BNY Mellon VIF Appreciation Portfolio, Initial Shares |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 22 | 18.40 | 53.36 | 726 | 0.37% | 0.25% | 0.75% | 9.80% | 9.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 23 | 16.76 | 48.84 | 699 | 0.42% | 0.25% | 0.75% | 12.52% | 11.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 26 | 14.90 | 43.62 | 696 | 0.71% | 0.25% | 0.75% | 20.67% | 20.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 29 | 12.34 | 36.33 | 640 | 0.62% | 0.25% | 0.75% | (18.27)% | (18.67)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 28 | 15.10 | 45.97 | 848 | 0.45% | 0.25% | 0.75% | 26.18% | 26.81% |
| BNY Mellon VIF Government Money Market Portfolio | BNY Mellon VIF Government Money Market Portfolio | BNY Mellon VIF Government Money Market Portfolio |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 333 | 11.38 | 12.67 | 4179 | 3.86% | 0.25% | 0.75% | 3.67% | 3.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 357 | 10.97 | 12.28 | 4307 | 4.62% | 0.25% | 0.75% | 4.47% | 3.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 303 | 10.50 | 11.82 | 3516 | 4.53% | 0.25% | 0.75% | 4.36% | 3.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 319 | 10.07 | 11.38 | 3113 | 1.28% | 0.25% | 0.75% | 1.01% | 0.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 377 | 9.96 | 11.65 | 4116 | 0.01% | 0.25% | 0.75% | (0.73)% | (0.24)% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | As of December 31 | As of December 31 | As of December 31 | As of December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 |
| Subaccount | Units <br> (000's) | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Net Assets<br> (000's) | Investment<br> Income<br> Ratio <sup>(a)</sup> | Expense Ratios <sup>(b)</sup> | Expense Ratios <sup>(b)</sup> | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios |
|  |  | Low | High |  |  | Low | High | Low | High |
| DWS CROCI U.S. VIP, Class A |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 2 | $32.51 | $32.51 | $54 | 1.27% | 0.50% | 0.50% | 16.61% | 16.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 2 | 17.26 | 27.88 | 54 | 1.48% | 0.25% | 0.50% | 17.47% | 17.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 2 | 14.70 | 23.79 | 48 | 1.70% | 0.25% | 0.50% | 20.46% | 20.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 2 | 12.20 | 19.80 | 43 | 1.78% | 0.25% | 0.50% | (15.61)% | (15.82)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 2 | 14.46 | 23.52 | 58 | 3.30% | 0.50% | 0.50% | 26.06% | 26.06% |
| DWS Equity 500 Index VIP, Class A | DWS Equity 500 Index VIP, Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 10 | 22.97 | 79.56 | 436 | 1.08% | 0.25% | 0.75% | 17.34% | 16.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 11 | 19.57 | 68.14 | 411 | 1.18% | 0.25% | 0.75% | 24.31% | 23.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 11 | 15.75 | 55.09 | 319 | 1.36% | 0.25% | 0.75% | 25.69% | 25.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 11 | 12.53 | 44.05 | 265 | 1.23% | 0.25% | 0.75% | (18.54)% | (18.95)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 11 | 15.38 | 55.92 | 339 | 1.61% | 0.25% | 0.75% | 27.44% | 28.08% |
| DWS High Income VIP, Class A | DWS High Income VIP, Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 3 | 13.23 | 26.89 | 41 | 6.73% | 0.25% | 0.50% | 8.67% | 8.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 3 | 12.17 | 24.81 | 39 | 5.77% | 0.25% | 0.50% | 6.87% | 6.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 3 | 11.39 | 23.27 | 36 | 5.21% | 0.25% | 0.50% | 11.06% | 10.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 3 | 10.26 | 21.01 | 33 | 5.00% | 0.25% | 0.50% | (9.11)% | (9.33)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 2 | 11.29 | 23.17 | 36 | 5.03% | 0.50% | 0.50% | 3.49% | 3.49% |
| DWS Small Cap Index VIP, Class A | DWS Small Cap Index VIP, Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 23 | 18.36 | 56.57 | 933 | 1.35% | 0.25% | 0.75% | 12.35% | 11.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 23 | 16.34 | 50.60 | 855 | 1.16% | 0.25% | 0.75% | 10.87% | 10.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 24 | 14.74 | 45.87 | 794 | 1.10% | 0.25% | 0.75% | 16.47% | 15.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 23 | 12.66 | 39.58 | 682 | 0.88% | 0.25% | 0.75% | (20.83)% | (21.23)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 22 | 15.99 | 51.70 | 925 | 0.90% | 0.25% | 0.75% | 13.65% | 14.22% |
| DWS Small Mid Cap Growth VIP, Class A | DWS Small Mid Cap Growth VIP, Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 4 | 14.81 | 30.15 | 104 | 0.00% | 0.25% | 0.75% | 7.84% | 7.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 4 | 13.73 | 28.10 | 102 | 0.00% | 0.25% | 0.75% | 4.89% | 4.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 5 | 13.09 | 26.92 | 100 | 0.02% | 0.25% | 0.75% | 18.53% | 17.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 5 | 11.05 | 22.83 | 98 | 0.00% | 0.25% | 0.75% | (28.20)% | (28.55)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 5 | 15.38 | 32.88 | 139 | 0.04% | 0.25% | 0.75% | 12.99% | 13.56% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | As of December 31 | As of December 31 | As of December 31 | As of December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 |
| Subaccount | Units <br> (000's) | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Net Assets<br> (000's) | Investment<br> Income<br> Ratio <sup>(a)</sup> | Expense Ratios <sup>(b)</sup> | Expense Ratios <sup>(b)</sup> | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios |
|  |  | Low | High |  |  | Low | High | Low | High |
| DWS Small Mid Cap Value VIP, Class A | DWS Small Mid Cap Value VIP, Class A |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 4 | $20.65 | $36.57 | $129 | 0.98% | 0.25% | 0.50% | 17.92% | 17.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 4 | 17.51 | 31.09 | 109 | 1.23% | 0.25% | 0.50% | 5.94% | 5.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 5 | 16.53 | 29.42 | 124 | 1.16% | 0.25% | 0.50% | 14.66% | 14.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 5 | 14.42 | 25.72 | 99 | 0.81% | 0.25% | 0.50% | (16.01)% | (16.22)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 5 | 17.16 | 30.70 | 120 | 1.68% | 0.25% | 0.50% | 29.85% | 30.17% |
| Franklin Global Real Estate VIP Fund, Class 2 | Franklin Global Real Estate VIP Fund, Class 2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 45 | 12.66 | 20.11 | 900 | 1.36% | 0.25% | 0.75% | 7.66% | 7.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 44 | 11.76 | 18.77 | 821 | 1.85% | 0.25% | 0.75% | (0.57)% | (1.06)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 44 | 11.83 | 18.97 | 831 | 2.84% | 0.25% | 0.75% | 11.15% | 10.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 44 | 10.64 | 17.16 | 741 | 2.20% | 0.25% | 0.75% | (26.24)% | (26.61)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 47 | 14.43 | 24.06 | 1090 | 0.95% | 0.25% | 0.75% | 25.85% | 26.47% |
| Invesco V.I. American Franchise Fund, Series I | Invesco V.I. American Franchise Fund, Series I | Invesco V.I. American Franchise Fund, Series I |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 170 | 19.98 | 42.39 | 4657 | 0.00% | 0.25% | 0.75% | 11.39% | 10.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 181 | 17.94 | 38.25 | 4474 | 0.00% | 0.25% | 0.75% | 34.55% | 33.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 198 | 13.33 | 28.57 | 3643 | 0.00% | 0.25% | 0.75% | 40.58% | 39.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 210 | 9.48 | 20.42 | 2733 | 0.00% | 0.25% | 0.75% | (31.28)% | (31.63)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 203 | 13.80 | 30.74 | 4098 | 0.00% | 0.25% | 0.75% | 11.09% | 11.65% |
| Invesco V.I. Core Equity Fund, Series I | Invesco V.I. Core Equity Fund, Series I |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 130 | 21.42 | 41.16 | 3529 | 0.66% | 0.25% | 0.50% | 15.88% | 15.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 136 | 18.48 | 35.61 | 3173 | 0.70% | 0.25% | 0.50% | 25.29% | 24.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 145 | 14.75 | 28.49 | 2681 | 0.73% | 0.25% | 0.50% | 23.06% | 22.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 152 | 11.99 | 23.21 | 2310 | 0.85% | 0.25% | 0.50% | (20.74)% | (20.94)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 154 | 15.13 | 29.36 | 3160 | 0.67% | 0.25% | 0.50% | 27.10% | 27.42% |
| Invesco V.I. Discovery Mid Cap Growth Fund, Series I | Invesco V.I. Discovery Mid Cap Growth Fund, Series I | Invesco V.I. Discovery Mid Cap Growth Fund, Series I |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 2 | 18.03 | 18.03 | 28 | 0.00% | 0.50% | 0.50% | 4.27% | 4.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 2 | 17.29 | 17.29 | 27 | 0.00% | 0.50% | 0.50% | 23.65% | 23.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 3 | 13.98 | 13.98 | 37 | 0.00% | 0.00% | 0.00% | 13.15% | 13.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 3 | 12.36 | 12.36 | 35 | 0.00% | 0.00% | 0.00% | (30.98)% | (30.98)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 3 | 17.91 | 17.91 | 49 | 0.00% | 0.00% | 0.00% | 19.10% | 19.10% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | As of December 31 | As of December 31 | As of December 31 | As of December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 |
| Subaccount | Units <br> (000's) | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Net Assets<br> (000's) | Investment<br> Income<br> Ratio <sup>(a)</sup> | Expense Ratios <sup>(b)</sup> | Expense Ratios <sup>(b)</sup> | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios |
|  |  | Low | High |  |  | Low | High | Low | High |
| Invesco V.I. Equity and Income Fund, Series I | Invesco V.I. Equity and Income Fund, Series I |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 58 | $13.94 | $13.91 | $805 | 2.12% | 0.25% | 0.75% | 12.52% | 11.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 60 | 12.39 | 12.42 | 749 | 1.83% | 0.25% | 0.75% | 11.84% | 11.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 60 | 11.16 | 11.08 | 673 | 2.01% | 0.00% | 0.25% | 10.56% | 10.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 62 | 10.09 | 10.05 | 629 | 1.67% | 0.00% | 0.25% | (7.51)% | (7.74)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 71 | 10.91 | 10.89 | 774 | 2.03% | 0.00% | 0.25% | 5.74% | 5.57% |
| Invesco V.I. EQV International Equity Fund, Series I | Invesco V.I. EQV International Equity Fund, Series I | Invesco V.I. EQV International Equity Fund, Series I |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 61 | 14.27 | 27.98 | 1333 | 1.45% | 0.25% | 0.75% | 16.21% | 15.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 63 | 12.28 | 24.20 | 1170 | 1.77% | 0.25% | 0.75% | 0.37% | (0.13)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 61 | 12.24 | 24.23 | 1148 | 0.20% | 0.25% | 0.75% | 17.85% | 17.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 66 | 10.39 | 20.66 | 1042 | 1.60% | 0.25% | 0.75% | (18.51)% | (18.91)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 65 | 12.74 | 26.22 | 1331 | 1.32% | 0.25% | 0.75% | 5.10% | 5.62% |
| Invesco V.I. Government Securities Fund, Series I | Invesco V.I. Government Securities Fund, Series I | Invesco V.I. Government Securities Fund, Series I |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 11 | 9.99 | 15.86 | 155 | 3.10% | 0.25% | 0.50% | 7.10% | 6.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 12 | 9.32 | 14.85 | 148 | 2.63% | 0.25% | 0.50% | 1.46% | 1.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 11 | 9.19 | 14.67 | 138 | 2.12% | 0.25% | 0.50% | 4.36% | 4.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 11 | 8.80 | 14.09 | 126 | 1.96% | 0.25% | 0.50% | (10.52)% | (10.74)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 11 | 9.84 | 15.79 | 142 | 3.09% | 0.25% | 0.50% | (2.75)% | (2.51)% |
| Invesco V.I. Technology Fund, Series I | Invesco V.I. Technology Fund, Series I | Invesco V.I. Technology Fund, Series I |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 152 | 19.65 | 25.40 | 3354 | 0.00% | 0.25% | 0.75% | 20.17% | 19.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 167 | 16.35 | 21.24 | 3045 | 0.00% | 0.25% | 0.75% | 33.93% | 33.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 191 | 12.21 | 15.94 | 2615 | 0.00% | 0.25% | 0.75% | 46.58% | 45.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 199 | 8.33 | 10.93 | 1852 | 0.00% | 0.25% | 0.75% | (40.10)% | (40.40)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 194 | 13.91 | 18.87 | 3145 | 0.00% | 0.25% | 0.75% | 13.56% | 14.13% |
| MFS VIT Growth Series, Initial Class | MFS VIT Growth Series, Initial Class | MFS VIT Growth Series, Initial Class |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 106 | 19.39 | 55.79 | 3069 | 0.00% | 0.25% | 0.75% | 11.91% | 11.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 109 | 17.33 | 50.09 | 2820 | 0.00% | 0.25% | 0.75% | 31.14% | 30.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 118 | 13.21 | 38.39 | 2354 | 0.00% | 0.25% | 0.75% | 35.52% | 34.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 124 | 9.75 | 28.47 | 1808 | 0.00% | 0.25% | 0.75% | (31.81)% | (32.14)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 119 | 14.30 | 43.18 | 2761 | 0.00% | 0.25% | 0.75% | 22.61% | 23.22% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | As of December 31 | As of December 31 | As of December 31 | As of December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 |
| Subaccount | Units <br> (000's) | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Net Assets<br> (000's) | Investment<br> Income<br> Ratio <sup>(a)</sup> | Expense Ratios <sup>(b)</sup> | Expense Ratios <sup>(b)</sup> | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios |
|  |  | Low | High |  |  | Low | High | Low | High |
| MFS VIT II High Yield Portfolio, Initial Class | MFS VIT II High Yield Portfolio, Initial Class | MFS VIT II High Yield Portfolio, Initial Class |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 5 | $12.85 | $16.01 | $85 | 4.21% | 0.25% | 0.75% | 8.37% | 7.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 16 | 11.86 | 14.84 | 212 | 8.98% | 0.25% | 0.75% | 6.66% | 6.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 5 | 11.12 | 13.99 | 75 | 5.80% | 0.25% | 0.75% | 12.13% | 11.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 5 | 9.91 | 12.54 | 5 | 9.62% | 0.25% | 0.75% | (10.74)% | (11.18)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 5 | 14.41 | 14.41 | 74 | 4.86% | 0.50% | 0.75% | 2.72% | 2.97% |
| MFS VIT Investors Trust Series, Initial Class | MFS VIT Investors Trust Series, Initial Class | MFS VIT Investors Trust Series, Initial Class |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 17 | 20.00 | 55.62 | 411 | 1.62% | 0.25% | 0.50% | 13.29% | 13.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 17 | 17.65 | 49.22 | 372 | 0.67% | 0.25% | 0.50% | 19.22% | 18.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 17 | 14.81 | 41.39 | 316 | 0.73% | 0.25% | 0.50% | 18.68% | 18.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 18 | 12.48 | 34.96 | 334 | 0.58% | 0.25% | 0.50% | (16.70)% | (16.90)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 11 | 14.98 | 42.07 | 355 | 0.64% | 0.25% | 0.50% | 26.18% | 26.50% |
| MFS VIT Research Series, Initial Class | MFS VIT Research Series, Initial Class | MFS VIT Research Series, Initial Class |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 17 | 19.73 | 51.43 | 519 | 0.95% | 0.25% | 0.75% | 12.57% | 12.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 18 | 17.53 | 45.92 | 512 | 0.59% | 0.25% | 0.75% | 18.57% | 17.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 20 | 14.79 | 38.92 | 471 | 0.52% | 0.25% | 0.75% | 22.11% | 21.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 20 | 12.11 | 32.03 | 393 | 0.43% | 0.25% | 0.75% | (17.42)% | (17.83)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 23 | 14.66 | 40.11 | 561 | 0.54% | 0.25% | 0.75% | 23.87% | 24.49% |
| MFS VIT Total Return Series, Initial Class | MFS VIT Total Return Series, Initial Class | MFS VIT Total Return Series, Initial Class |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 53 | 15.33 | 42.31 | 1372 | 2.75% | 0.25% | 0.75% | 10.89% | 10.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 53 | 13.82 | 38.35 | 1244 | 2.49% | 0.25% | 0.75% | 7.48% | 6.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 54 | 12.86 | 35.86 | 1195 | 2.04% | 0.25% | 0.75% | 10.17% | 9.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 58 | 11.67 | 32.71 | 1157 | 1.63% | 0.25% | 0.75% | (9.81)% | (10.25)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 56 | 12.94 | 37.51 | 1442 | 1.86% | 0.25% | 0.75% | 13.27% | 13.83% |
| MFS VIT Value Series, Initial Class | MFS VIT Value Series, Initial Class | MFS VIT Value Series, Initial Class |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 3 | 18.88 | 47.12 | 82 | 1.62% | 0.25% | 0.50% | 12.73% | 12.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 3 | 16.75 | 41.90 | 77 | 1.53% | 0.25% | 0.50% | 11.33% | 11.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 3 | 15.04 | 37.73 | 78 | 1.66% | 0.25% | 0.50% | 7.66% | 7.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 3 | 13.97 | 35.13 | 65 | 1.47% | 0.25% | 0.50% | (6.14)% | (6.37)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 2 | 14.89 | 37.52 | 58 | 1.33% | 0.25% | 0.50% | 24.83% | 25.14% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | As of December 31 | As of December 31 | As of December 31 | As of December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 | For the period ended December 31 |
| Subaccount | Units <br> (000's) | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Unit Fair Value<br> Corresponding to the<br> Lowest and Highest <br> Expense Ratios | Net Assets<br> (000's) | Investment<br> Income<br> Ratio <sup>(a)</sup> | Expense Ratios <sup>(b)</sup> | Expense Ratios <sup>(b)</sup> | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios | Total Return <sup>(c)</sup> Corresponding to the<br> Lowest and Highest<br> Expense Ratios |
|  |  | Low | High |  |  | Low | High | Low | High |
| Templeton Foreign VIP Fund, Class 2 | Templeton Foreign VIP Fund, Class 2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 28 | $17.49 | $24.24 | $664 | 2.33% | 0.25% | 0.75% | 28.87% | 28.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 30 | 13.57 | 18.90 | 565 | 2.41% | 0.25% | 0.75% | (1.25)% | (1.74)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 29 | 13.75 | 19.23 | 554 | 3.15% | 0.25% | 0.75% | 20.46% | 19.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 32 | 11.41 | 16.05 | 498 | 2.93% | 0.25% | 0.75% | (7.84)% | (8.29)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 36 | 12.38 | 18.01 | 632 | 1.93% | 0.25% | 0.75% | 3.38% | 3.90% |
| Templeton Global Bond VIP Fund, Class 2 | Templeton Global Bond VIP Fund, Class 2 |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 | 10 | 9.38 | 20.84 | 170 | 0.00% | 0.25% | 0.50% | 15.44% | 15.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;2024 | 10 | 8.12 | 17.46 | 152 | 0.00% | 0.25% | 0.75% | (11.59)% | (12.03)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2023 | 10 | 9.19 | 19.85 | 170 | 0.00% | 0.25% | 0.75% | 2.63% | 2.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;2022 | 10 | 8.96 | 19.43 | 172 | 0.00% | 0.25% | 0.75% | (5.19)% | (5.66)% |
| &nbsp;&nbsp;&nbsp;&nbsp;2021 | 11 | 9.45 | 21.20 | 203 | 0.00% | 0.25% | 0.75% | (5.70)% | (5.23)% |

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<sup>(a)</sup> These ratios represent the dividends received by the Subaccount, excluding distributions of capital gains, divided by the daily average net assets. These ratios exclude expenses, such as mortality and expense risk fees, that result in direct reductions in the unit values. The recognition of investment income by the Subaccount is affected by the timing of the declaration of dividends by the underlying mutual fund in which the Subaccounts invest.

<sup>(b)</sup> These ratios represent the annualized Policy expenses of the respective Subaccounts of the Separate Account, consisting primarily of mortality and expense risk fees, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to Policy owner accounts through the redemption of units and expenses of the underlying mutual fund are excluded.

<sup>(c)</sup> These amounts represent the total return for the periods indicated, include changes in the value of the underlying mutual fund, and reflect deductions for all items included in the expense ratio. These amounts are not annualized and represent each Subaccount's total return for the periods during which the Subaccount held investment balances. The total return does not include any expenses addressed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented.

7. SUBSEQUENT EVENTS

The Separate Account has evaluated the effects of events subsequent to December 31, 2025, and through April 20, 2026, the date at which the financial statements were available to be issued. All accounting and disclosure requirements related to subsequent events are included in our financial statements.