# EDGAR Filing Document

**Accession Number:** 0001618629
**File Stem:** 0001193125-25-152948
**Filing Date:** 2025-7
**Character Count:** 1572869
**Document Hash:** 04b8fd380d198a301e6f12d36d79aea7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-152948.hdr.sgml**: 20250902

**ACCESSION NUMBER**: 0001193125-25-152948

**CONFORMED SUBMISSION TYPE**: N-4

**PUBLIC DOCUMENT COUNT**: 19

**FILED AS OF DATE**: 20250701

**DATE AS OF CHANGE**: 20250701

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nationwide Jefferson National VA Separate Account 1
- **CENTRAL INDEX KEY:** 0001618629

**ORGANIZATION NAME:**
- **EIN:** 471180302

**FILING VALUES:**
- **FORM TYPE:** N-4
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22994
- **FILM NUMBER:** 251093491

**BUSINESS ADDRESS:**
- **STREET 1:** 10350 ORMSBY PARK PLACE
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40223
- **BUSINESS PHONE:** 5025873809

**MAIL ADDRESS:**
- **STREET 1:** 10350 ORMSBY PARK PLACE
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Jefferson National Life of New York Annuity Account 1
- **DATE OF NAME CHANGE:** 20140904
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nationwide Jefferson National VA Separate Account 1
- **CENTRAL INDEX KEY:** 0001618629

**ORGANIZATION NAME:**
- **EIN:** 471180302

**FILING VALUES:**
- **FORM TYPE:** N-4
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-288440
- **FILM NUMBER:** 251093490

**BUSINESS ADDRESS:**
- **STREET 1:** 10350 ORMSBY PARK PLACE
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40223
- **BUSINESS PHONE:** 5025873809

**MAIL ADDRESS:**
- **STREET 1:** 10350 ORMSBY PARK PLACE
- **CITY:** LOUISVILLE
- **STATE:** KY
- **ZIP:** 40223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Jefferson National Life of New York Annuity Account 1
- **DATE OF NAME CHANGE:** 20140904

As filed with the Securities and Exchange Commission on July 1, 2025

**UNITED STATES** <br>**SECURITIES AND EXCHANGE COMMISSION** <br>**WASHINGTON, D.C. 20549**

**FORM N-4**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**File No. **333-______**

Pre-Effective Amendment No.

☐

Post-Effective Amendment No.

☐

and/or

**REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940**File No. **811-22994**

Amendment No. 20

☒

(Check appropriate box or boxes.)

**Nationwide Jefferson National VA Separate Account 1**

------

(Exact Name of Registrant)

**Nationwide Life Insurance Company**

------

(Name of Depositor)

**One Nationwide Plaza, Columbus, Ohio 43215**

------

(Address of Depositor's Principal Executive Offices) (Zip Code)

**(614) 249-7111**

------

Depositor's Telephone Number, including Area Code

**Denise L. Skingle, Senior Vice President and Secretary,** <br>**One Nationwide Plaza, Columbus, Ohio 43215**

------

(Name and Address of Agent for Service)

**As soon as possible after effectiveness of the registration statement**

------

Approximate Date of Proposed Public Offering

The Registrant hereby agrees to amend this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to said Section 8(a), may determine.

**Explanatory Note:** Units of interest supporting the individual flexible payment deferred variable annuity contracts issued through the Registrant, as described herein, were previously registered on Form N-4 (File Nos. 333-198590; 811-22994). Upon the merger of Jefferson National Life Insurance Company of New York, a wholly-owned subsidiary of Nationwide Life Insurance Company ("NLIC"), with and into NLIC, NLIC became the obligor of the contracts and the depositor of the Registrant, necessitating the filing of a new Registration Statement under the Securities Act of 1933 and an amendment to the Registration Statement under the Investment Company Act of 1940.

------

**Monument Advisor**<sup>®</sup> **NY**

**Individual Variable Annuity**

Issued by

**Nationwide Life Insurance Company**

through its

**Nationwide Jefferson National VA Separate Account 1**

Supplement dated July 1, 2025

to

Prospectus dated May 1, 2025

**Service Center**

Address: Nationwide Life Insurance Company, P.O. Box 183000, Columbus, OH 43218 <br>Phone Number: 1-866-667-0561 <br>Website: www.nationwideadvisory.com <br>

*This supplement updates certain information contained in the prospectus, dated May 1, 2025, for the Monument Advisor*<sup>®</sup> *NY individual variable annuity contract (the "Contract"). Please read this supplement and keep it with your prospectus for future reference.* [The prospectus, which was filed in an amended registration statement with the Securities and Exchange](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525094694/d925756d485bpos.htm)[Commission on April 25, 2025 (File No. 333- 198590)](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525094694/d925756d485bpos.htm)*,* [prospectus supplement dated and filed on May 1, 2025 as](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525108721/d807903d497.htm)[document number d807903d497.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525108721/d807903d497.htm)*,* [prospectus supplement dated and filed on May 29, 2025 as document number](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525130023/d948956d485bpos.htm)[d948956d485bpos.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525130023/d948956d485bpos.htm)*, and* [prospectus supplement dated and filed on May 30, 2025 as document number](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525131338/d908211d497.htm)[d908211d497.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525131338/d908211d497.htm)*, are hereby incorporated by reference. Capitalized terms not otherwise defined in this supplement have the meanings given to them in the prospectus.*

**Merger of Jefferson National Life Insurance Company of New York into Nationwide Life Insurance Company**

Effective July 1, 2025, Jefferson National Life Insurance Company of New York ("Jefferson National NY"), an indirect wholly-owned subsidiary of Nationwide Life Insurance Company ("Nationwide"), merged with and into Nationwide, with Nationwide as the surviving company (the "Merger"). Upon consummation of the Merger, Jefferson National NY's corporate existence ceased by operation of law. Nationwide became the legal owner of all Jefferson National NY assets and liabilities, including those related to the Contract and the Separate Account. Accordingly, as a result of the Merger, Nationwide has become the issuer of all outstanding Contracts, and the Separate Account has become a separate account of Nationwide. All new Contracts issued after the Merger will be issued by Nationwide.

Additionally, in conjunction with the Merger, the name of the Separate Account has been changed from Jefferson National Life of New York Annuity Account 1 to Nationwide Jefferson National VA Separate Account 1.

***Please note:*** The Merger did not affect the terms of any outstanding Contract or the rights or obligations thereunder, other than to change the issuing insurance company from Jefferson National NY to Nationwide. The Contracts continue to be funded by the same Separate Account. There are no income tax consequences for Contract Owners as a result of the Merger. Contract values and benefits did not change, and Contract Owners were not charged any additional fees or expenses, as a result of the Merger.

Financial statements of Nationwide and the Separate Account are included in a Statement of Additional Information supplement, dated July 1, 2025. The Statement of Additional Information may be obtained, without charge, by contacting the Service Center.

***For service or information concerning your Contract, contact Nationwide at the Service Center.*** 

**Revisions to the Prospectus**

The following describes general changes to the prospectus as a result of the Merger and otherwise updates the prospectus.

PROS-1026

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

1. All references to Jefferson National NY (including references to "Jefferson National Life Insurance Company of New York," "Jefferson National," "Company," "We," "Us," and "Our") throughout the prospectus that are not otherwise addressed below are replaced with references to Nationwide.

2. All references to the Jefferson National Service Center throughout the prospectus that are not otherwise addressed below are replaced with references to the Service Center.

3. In the section titled "Definition of Special Terms":

&nbsp;&nbsp;&nbsp;&nbsp;a) The definition of "Company" is replaced with the following: "Nationwide Life Insurance Company, also referred to as Nationwide, We, Us, and Our."

&nbsp;&nbsp;&nbsp;&nbsp;b) The special term "Jefferson National Service Center" is changed to "Service Center," and the associated definition is replaced with the following:

The department of Nationwide responsible for receiving all service and transaction requests relating to the Contract. Address: Nationwide Life Insurance Company, P.O. Box 183000, Columbus, OH 43218. Phone number: 1-866-667-0561. Fax: at 1-866-667-0563. Website: www.nationwideadvisory.com.

&nbsp;&nbsp;&nbsp;&nbsp;c) The definition of "Separate Account" is replaced with the following: "Nationwide Jefferson National VA Separate Account 1, which invests in the Investment Portfolios."

4. The section titled "Jefferson National and the Separate Account" is retitled "Nationwide Life Insurance Company and the Separate Account," and the following replaces the first paragraph thereunder:

Nationwide Life Insurance Company was organized in 1929 and is a direct subsidiary of Nationwide Financial Services, Inc. Our home office is located at One Nationwide Plaza, Columbus, OH 43215-2239. Nationwide Jefferson National VA Separate Account 1 (formerly Jefferson National Life of New York Annuity Account 1) is a separate account of Nationwide that invests in the Investment Portfolios listed in Appendix A: More Information About the Investment Portfolios. Income, gains, and losses credited to or charged against the Separate Account reflect the Separate Account's own investment experience and not the investment experience of Our other assets. The Separate Account's assets are held separately from Our general account assets and may not be used to pay any liabilities of Nationwide other than those arising from the Contract or other contracts supported by the Separate Account. The Separate Account is divided into Sub-accounts, each of which invests in shares of a single underlying mutual fund.

5. In the Treatment of Unclaimed Property subsection of "The Monument Advisor NY Variable Annuity Contract," the fourth sentence of the first paragraph is replaced with the following:

Once the state mandated period has expired, the death benefit will be escheated to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Owner last resided, as shown on Our books and records, or to Ohio, Our state of domicile.

6. Under the Legal Proceedings subsection of "Other Information," the sub-heading "Jefferson National Life Insurance Company of New York (the 'Company')" is replaced with "Nationwide Life Insurance Company," and the information thereunder is replaced with the following:

Nationwide Financial Services, Inc. (NFS) was formed in November 1996. NFS is the holding company for Nationwide Life Insurance Company (NLIC), Nationwide Life and Annuity Insurance Company (NLAIC) and other companies that comprise the life insurance and retirement savings operations of the Nationwide group of companies. This group includes Nationwide Financial Network (NFN), an affiliated distribution network that markets directly to its customer base. NFS is incorporated in Delaware and maintains its principal executive offices in Columbus, Ohio.

The Company is subject to legal and regulatory proceedings in the ordinary course of its business. These include proceedings specific to the Company and proceedings generally applicable to business practices in the industries in which the Company operates. The outcomes of these proceedings cannot be predicted due to their complexity, scope, and many uncertainties. The Company believes, however, that based on currently known information, the ultimate outcome of all pending legal and regulatory proceedings is not likely to have a material adverse effect on the Separate Account, the ability of Nationwide Investment Services Corporation to perform its contract with the Separate Account, or the ability of Nationwide to meet its obligations under the Contracts.

The various businesses conducted by the Company are subject to oversight by numerous federal and state regulatory entities, including but not limited to the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Department of Labor, the Internal Revenue Service, the Office of the Comptroller of the Currency, and state insurance authorities. Such regulatory entities may, in the normal course of business, be engaged in general or targeted inquiries, examinations and investigations of the Company and/or its affiliates. With respect to all such scrutiny directed at the Company or its affiliates, the Company is cooperating with regulators.

7. The following replaces the first paragraph under "The Separate Account" subsection of "Other Information":

PROS-1026

------

The Separate Account was originally established on June 20, 2014, by resolution of the Board of Directors of Jefferson National Life Insurance Company of New York. Effective July 1, 2025, in conjunction with a merger of Jefferson National Life Insurance Company into Nationwide, the Separate Account became a separate account of Nationwide, and was renamed Nationwide Jefferson National VA Separate Account 1. Nationwide Jefferson National VA Separate Account 1 is registered with the Securities and Exchange Commission as a unit investment trust under the Investment Company Act of 1940. Nationwide Jefferson National VA Separate Account 1 is divided into Sub-accounts. Registration under the 1940 Act does not involve the supervision by the SEC of the management or investment policies or practices of the variable account. The Separate Account is regulated by the New York Department of Financial Services. Regulation by the state, however, does not involve any supervision of the Separate Account, except to determine compliance with broad statutory criteria.

8. On the outside back cover page, the second paragraph and the SEC Contract Identifier information at the bottom of the page are replaced with the following:

The Statement of Additional Information ("SAI") dated May 1, 2025, as supplemented July 1, 2025, has been filed with the Securities and Exchange Commission and is incorporated by reference into this prospectus. The SAI is also available at <u>https://nationwide.onlineprospectus.net/NW/C000148690NW/index.php?ctype=product_sai</u>. This prospectus is available at <u>https://nationwide.onlineprospectus.net/NW/C000148690NW/index.php?ctype=product_prospectus</u>.

SEC Contract Identifier: [___]

PROS-1026

------

**Monument Advisor Select**<sup>®</sup> **NY**

**Individual Variable Annuity**

Issued by

**Nationwide Life Insurance Company**

through its

**Nationwide Jefferson National VA Separate Account 1**

Supplement dated July 1, 2025

to

Prospectus dated May 1, 2025

**Service Center**

Address: Nationwide Life Insurance Company, P.O. Box 183000, Columbus, OH 43218 <br>Phone Number: 1-866-667-0561 <br>Website: www.nationwideadvisory.com <br>

*This supplement updates certain information contained in the prospectus, dated May 1, 2025, for the Monument Advisor Select*<sup>®</sup> *NY individual variable annuity contract (the "Contract"). Please read this supplement and keep it with your prospectus for future reference.* [The prospectus, which was filed in an amended registration statement with the Securities](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525094694/d925756d485bpos.htm)[and Exchange Commission on April 25, 2025 (File No. 333- 198590)](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525094694/d925756d485bpos.htm)*,* [prospectus supplement dated and filed on May 1,](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525108721/d807903d497.htm)[2025 as document number d807903d497.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525108721/d807903d497.htm)*,* [prospectus supplement dated and filed on May 29, 2025 as document](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525130023/d948956d485bpos.htm)[number d948956d485bpos.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525130023/d948956d485bpos.htm)*,* [and prospectus supplement dated and filed on May 30, 2025 as document number](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525131343/d916944d497.htm)[d916944d497.htm](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525131343/d916944d497.htm)*, are hereby incorporated by reference. Capitalized terms not otherwise defined in this supplement have the meanings given to them in the prospectus.*

**Merger of Jefferson National Life Insurance Company of New York into Nationwide Life Insurance Company**

Effective July 1, 2025, Jefferson National Life Insurance Company of New York ("Jefferson National NY"), an indirect wholly-owned subsidiary of Nationwide Life Insurance Company ("Nationwide"), merged with and into Nationwide, with Nationwide as the surviving company (the "Merger"). Upon consummation of the Merger, Jefferson National NY's corporate existence ceased by operation of law. Nationwide became the legal owner of all Jefferson National NY assets and liabilities, including those related to the Contract and the Separate Account. Accordingly, as a result of the Merger, Nationwide has become the issuer of all outstanding Contracts, and the Separate Account has become a separate account of Nationwide. All new Contracts issued after the Merger will be issued by Nationwide.

Additionally, in conjunction with the Merger, the name of the Separate Account has been changed from Jefferson National Life of New York Annuity Account 1 to Nationwide Jefferson National VA Separate Account 1.

***Please note:*** The Merger did not affect the terms of any outstanding Contract or the rights or obligations thereunder, other than to change the issuing insurance company from Jefferson National NY to Nationwide. The Contracts continue to be funded by the same Separate Account. There are no income tax consequences for Contract Owners as a result of the Merger. Contract values and benefits did not change, and Contract Owners were not charged any additional fees or expenses, as a result of the Merger.

Financial statements of Nationwide and the Separate Account are included in a Statement of Additional Information supplement, dated July 1, 2025. The Statement of Additional Information may be obtained, without charge, by contacting the Service Center.

***For service or information concerning your Contract, contact Nationwide at the Service Center.*** 

**Revisions to the Prospectus**

The following describes general changes to the prospectus as a result of the Merger and otherwise updates the prospectus.

PROS-1027

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

1. All references to Jefferson National NY (including references to "Jefferson National Life Insurance Company of New York," "Jefferson National," "Company," "We," "Us," and "Our") throughout the prospectus that are not otherwise addressed below are replaced with references to Nationwide.

2. All references to the Jefferson National Service Center throughout the prospectus that are not otherwise addressed below are replaced with references to the Service Center.

3. In the section titled "Definition of Special Terms":

&nbsp;&nbsp;&nbsp;&nbsp;a) The definition of "Company" is replaced with the following: "Nationwide Life Insurance Company, also referred to as Nationwide, We, Us, and Our."

&nbsp;&nbsp;&nbsp;&nbsp;b) The special term "Jefferson National Service Center" is changed to "Service Center," and the associated definition is replaced with the following:

The department of Nationwide responsible for receiving all service and transaction requests relating to the Contract. Address: Nationwide Life Insurance Company, P.O. Box 183000, Columbus, OH 43218. Phone number 1-866-667-0561. Fax: at 1-866-667-0563. Website: <u>www.nationwideadvisory.com</u>.

&nbsp;&nbsp;&nbsp;&nbsp;c) The definition of "Separate Account" is replaced with the following: "Nationwide Jefferson National VA Separate Account 1, which invests in the Investment Portfolios."

4. The section titled "Jefferson National and the Separate Account" is retitled "Nationwide Life Insurance Company and the Separate Account," and the following replaces the first paragraph thereunder:

Nationwide Life Insurance Company was organized in 1929 and is a direct subsidiary of Nationwide Financial Services, Inc. Our home office is located at One Nationwide Plaza, Columbus, OH 43215-2239. Nationwide Jefferson National VA Separate Account 1 (formerly Jefferson National Life of New York Annuity Account 1) is a separate account of Nationwide that invests in the Investment Portfolios listed in Appendix A: More Information About the Investment Portfolios. Income, gains, and losses credited to or charged against the Separate Account reflect the Separate Account's own investment experience and not the investment experience of Our other assets. The Separate Account's assets are held separately from Our general account assets and may not be used to pay any liabilities of Nationwide other than those arising from the Contract or other contracts supported by the Separate Account. The Separate Account is divided into Sub-accounts, each of which invests in shares of a single underlying mutual fund.

5. In the Treatment of Unclaimed Property subsection of "The Monument Advisor Select NY Variable Annuity Contract," the fourth sentence of the first paragraph is replaced with the following:

Once the state mandated period has expired, the death benefit will be escheated to the abandoned property division or unclaimed property office of the state in which the beneficiary or the Owner last resided, as shown on Our books and records, or to Ohio, Our state of domicile.

6. Under the Legal Proceedings subsection of "Other Information," the sub-heading "Jefferson National Life Insurance Company of New York (the 'Company')" is replaced with "Nationwide Life Insurance Company," and the information thereunder is replaced with the following:

Nationwide Financial Services, Inc. (NFS) was formed in November 1996. NFS is the holding company for Nationwide Life Insurance Company (NLIC), Nationwide Life and Annuity Insurance Company (NLAIC) and other companies that comprise the life insurance and retirement savings operations of the Nationwide group of companies. This group includes Nationwide Financial Network (NFN), an affiliated distribution network that markets directly to its customer base. NFS is incorporated in Delaware and maintains its principal executive offices in Columbus, Ohio.

The Company is subject to legal and regulatory proceedings in the ordinary course of its business. These include proceedings specific to the Company and proceedings generally applicable to business practices in the industries in which the Company operates. The outcomes of these proceedings cannot be predicted due to their complexity, scope, and many uncertainties. The Company believes, however, that based on currently known information, the ultimate outcome of all pending legal and regulatory proceedings is not likely to have a material adverse effect on the Separate Account, the ability of Nationwide Investment Services Corporation to perform its contract with the Separate Account, or the ability of Nationwide to meet its obligations under the Contracts.

The various businesses conducted by the Company are subject to oversight by numerous federal and state regulatory entities, including but not limited to the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Department of Labor, the Internal Revenue Service, the Office of the Comptroller of the Currency, and state insurance authorities. Such regulatory entities may, in the normal course of business, be engaged in general or targeted inquiries, examinations and investigations of the Company and/or its affiliates. With respect to all such scrutiny directed at the Company or its affiliates, the Company is cooperating with regulators.

7. The following replaces the first paragraph under "The Separate Account" subsection of "Other Information":

PROS-1027

------

The Separate Account was originally established on June 20, 2014, by resolution of the Board of Directors of Jefferson National Life Insurance Company of New York. Effective July 1, 2025, in conjunction with a merger of Jefferson National Life Insurance Company into Nationwide, the Separate Account became a separate account of Nationwide, and was renamed Nationwide Jefferson National VA Separate Account 1. Nationwide Jefferson National VA Separate Account 1 is registered with the Securities and Exchange Commission as a unit investment trust under the Investment Company Act of 1940. Nationwide Jefferson National VA Separate Account 1 is divided into Sub-accounts. Registration under the 1940 Act does not involve the supervision by the SEC of the management or investment policies or practices of the variable account. The Separate Account is regulated by the New York Department of Financial Services. Regulation by the state, however, does not involve any supervision of the Separate Account, except to determine compliance with broad statutory criteria.

8. On the outside back cover page, the second paragraph and the SEC Contract Identifier information at the bottom of the page are replaced with the following:

The Statement of Additional Information ("SAI") dated May 1, 2025, as supplemented July 1, 2025, has been filed with the Securities and Exchange Commission and is incorporated by reference into this prospectus. The SAI is also available at <u>https://nationwide.onlineprospectus.net/NW/C000220424NW/index.php?ctype=product_sai</u>. This prospectus is available at <u>https://nationwide.onlineprospectus.net/NW/C000220424NW/index.php?ctype=product_prospectus</u>.

SEC Contract Identifier: [___]

PROS-1027

------

**Monument Advisor**<sup>®</sup> **NY**

**Monument Advisor Select**<sup>®</sup> **NY**

**Supplement dated July 1, 2025** <br>**to the following Statement of Additional Information dated May 1, 2025:**

Issued by Nationwide Life Insurance Company

through its Nationwide Jefferson National VA Separate Account 1

**Service Center**

Address: Nationwide Life Insurance Company, P.O. Box 183000, Columbus, OH 43218 <br>Phone Number: 1-866-667-0561 <br>Website: www.nationwideadvisory.com <br>

*This supplement updates certain information contained in the Statement of Additional Information ("SAI"), dated May 1, 2025, for the Monument Advisor*<sup>®</sup> *NY and Monument Advisor Select*<sup>®</sup> *NY individual variable annuity contracts (each, the "Contract"). Please read this supplement and retain it for future reference.* [The SAI, which was filed in an amended](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525094694/d925756d485bpos.htm)[registration statement with the Securities and Exchange Commission on April 25, 2025 (File No. 333- 198590), is](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525094694/d925756d485bpos.htm)[incorporated by reference](https://www.sec.gov/ix?doc=/Archives/edgar/data/1618629/000119312525094694/d925756d485bpos.htm)*. Capitalized terms not otherwise defined in this supplement have the meanings given to them in the prospectus.*

**Merger of Jefferson National Life Insurance Company of New York into Nationwide Life Insurance Company**

Effective July 1, 2025, Jefferson National Life Insurance Company of New York ("Jefferson National NY"), an indirect wholly-owned subsidiary of Nationwide Life Insurance Company ("Nationwide"), merged with and into Nationwide, with Nationwide as the surviving company (the "Merger"). Upon consummation of the Merger, Jefferson National NY's corporate existence ceased by operation of law. Nationwide became the legal owner of all Jefferson National NY assets and liabilities, including those related to the Contract and the Separate Account. Accordingly, as a result of the Merger, Nationwide has become the issuer of all outstanding Contracts, and the Separate Account has become a separate account of Nationwide. All new Contracts issued after the Merger will be issued by Nationwide.

Additionally, in conjunction with the Merger, the name of the Separate Account has been changed from Jefferson National Life of New York Annuity Account 1 to Nationwide Jefferson National VA Separate Account 1.

***Please note:*** The Merger did not affect the terms of any outstanding Contract, other than to change the issuing insurance company from Jefferson National NY to Nationwide. The Contracts continue to be funded by the same Separate Account. There are no income tax consequences for Contract Owners as a result of the Merger. Contract values and benefits did not change, and Contract Owners were not charged any additional fees or expenses, as a result of the Merger.

***For service or information concerning your Contract, contact Nationwide at the Service Center.*** 

**Revisions to the SAI**

The following describes general changes to the SAI as a result of the Merger and otherwise updates the SAI.

1. All references to Jefferson National NY (including references to "Jefferson National Life Insurance Company of New York," "Jefferson National," "Company," "we," "us," and "our") throughout the SAI that are not otherwise addressed below are replaced with references to Nationwide.

2. All references to Jefferson National Life of New York Annuity Account 1 throughout the SAI that are not otherwise addressed below are replaced with references to Nationwide Jefferson National VA Separate Account 1. On the cover page, the term "Separate Account" is redefined to mean Nationwide Jefferson National VA Separate Account 1.

3. On the cover page, the last sentence of the first paragraph is replaced with the following: "You may obtain a copy of the current prospectus on our Website, by writing to us at our Service Center at P.O. Box 183000, Columbus, OH 43218 or by calling 1-866-667-0561."

4. Under "General Information," the section titled "General Information Regarding Jefferson National Life Insurance Company of New York:" is retitled "General Information Regarding Nationwide Life Insurance Company:", and the following replaces the information thereunder:

PROS-1028

------

Nationwide is a stock life insurance company organized under the laws of the State of Ohio in March of 1929 with its Home Office at One Nationwide Plaza, Columbus, Ohio 43215. Nationwide provides life insurance, annuities and retirement products. Nationwide is admitted to do business in all states, the District of Columbia, Guam, the U.S. Virgin Islands, and Puerto Rico. Nationwide is a member of the Nationwide group of companies and all of its common stock is owned by Nationwide Financial Services, Inc. ("NFS"), a holding company. Nationwide Corporation owns all of NFS's common stock and is a holding company, as well. All of Nationwide Corporation's common stock is held by Nationwide Mutual Insurance Company (95.2%) and Nationwide Mutual Fire Insurance Company (4.8%), the ultimate controlling persons of the Nationwide group of companies.

Prior to July 1, 2025, the Contracts were issued by Jefferson National Life Insurance Company of New York, which was an indirect wholly-owned subsidiary of Nationwide since March 1, 2017. On July 1. 2025, Nationwide became the issuer of the Contracts and the depositor of the Separate Account upon a merger of Jefferson National Life Insurance Company of New York into Nationwide, with Nationwide as the surviving company.

5. Under "General Information," the section titled "Jefferson National Life of New York Annuity Account 1:" is retitled "Nationwide Jefferson National VA Separate Account 1," and the following replaces the first sentence of the first paragraph:

The Separate Account was established on June 20, 2014, under New York law by Jefferson National Life Insurance Company of New York. On July 1, 2025, upon a merger of Jefferson National Life Insurance Company of New York into Nationwide, the Separate Account became a separate account of Nationwide under Ohio law. Additionally, in conjunction with that merger, the name of the Separate Account was changed from Jefferson National Life of New York Annuity Account 1 to Nationwide Jefferson National VA Separate Account 1.

6. The section titled "Administration" is deleted. Nationwide performs the administrative services for the Contracts.

7. Under the section titled "Distribution," the first two paragraphs are replaced with the following:

The Contracts, which are offered continuously, are distributed by Nationwide Investment Services Corporation ("NISC"), One Nationwide Plaza, Columbus, Ohio 43215. NISC is a wholly-owned subsidiary of Nationwide. For Contracts issued in Michigan, all references to NISC will mean Nationwide Investment Svcs. Corporation.

No underwriting commissions were paid to NISC for each of the Separate Account's last three fiscal years. Prior to November 1, 2022, the Contracts were distributed by Jefferson National Securities Corporation ("JNSC"), 10350 Ormsby Park Place, Louisville, KY 40233. JNSC was a wholly-owned subsidiary of Jefferson National Life Insurance Company of New York. No underwriting commissions were paid to JNSC for each of the Separate Account's last three fiscal years.

8. The information under the section titled "Financial Statements" is replaced with the following:

**Independent Registered Public Accounting Firm**

The financial statements of Nationwide Jefferson National VA Separate Account 1 (formerly Jefferson National Life of New York Annuity Account 1) and the statutory financial statements and financial statement schedules of Nationwide Life Insurance Company have been included herein in reliance upon the reports of KPMG LLP, independent registered public accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

The KPMG LLP report dated March 20, 2025 of Nationwide Life Insurance Company includes explanatory language that states that the financial statements are prepared by Nationwide Life Insurance Company using statutory accounting practices prescribed or permitted by the Ohio Department of Insurance, which is a basis of accounting other than U.S. generally accepted accounting principles. Accordingly, the KPMG LLP audit report states that the financial statements are not presented fairly in accordance with U.S. generally accepted accounting principles and further states that those financial statements are presented fairly, in all material respects, in accordance with statutory accounting practices prescribed or permitted by the Ohio Department of Insurance.

The KPMG LLP report dated March 20, 2025 of Nationwide Life Insurance Company also contains an emphasis of matter paragraph that states that Nationwide Life Insurance Company's subsidiary received permission from the Ohio Department of Insurance in 2023 to account for an excess of loss reinsurance recoverable as an admitted asset. Under prescribed statutory accounting practices, the excess of loss reinsurance recoverable would not be an admitted asset. As of December 31, 2024 and 2023, that permitted accounting practice increased statutory surplus over what it would have been had that prescribed accounting practice been followed. KPMG LLP's opinions are not modified with respect to this matter.

PROS-1028

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## JEFFERSON

## NATIONAL LIFE OF

## NEW YORK

## ANNUITY ACCOUNT

## 1

## Annual Report

## To

## Contract Owners

## December 31, 2024
![LOGO](g138721dsp001.jpg)

**JEFFERSON NATIONAL LIFE INSURANCE COMPANY OF NEW YORK** 

HOME OFFICE: LOUISVILLE, KENTUCKY

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![LOGO](g1387211dsp204.jpg)

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| |
|:---|
| KPMG LLP |
| Suite 500<br> 191 West Nationwide Blvd. |
| Columbus, OH 43215-2568 |

---

**Report of Independent Registered Public Accounting Firm** 

To the Board of Directors of Jefferson National Life Insurance Company of New York and Contract Owners of Jefferson National Life of New York Annuity Account 1:

*Opinion on the Financial Statements* 

We have audited the accompanying statements of assets, liabilities and contract owners' equity of the sub-accounts listed in the Appendix that comprise the Jefferson National Life of New York Annuity Account 1 (the Separate Account), as of the date listed in the Appendix, the related statements of operations for the year or period listed in the Appendix and changes in contract owners' equity for the years or periods listed in the Appendix, and the related notes including the financial highlights in Note 6 (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of each sub-account as of the date listed in the Appendix, the results of its operations for the year or period listed in the Appendix, the changes in its contract owners' equity for the years or periods listed in the Appendix, and the financial highlights for each of the years or periods indicated in Note 6, 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, 2024, by correspondence with the transfer agent of the underlying mutual funds or by 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 not been able to determine the specific year that we began serving as the auditor of one or more Nationwide Life Insurance Company separate account investment companies, however we are aware that we have served as the auditor of one or more Nationwide Life Insurance Company separate account investment companies since at least 1981.

Columbus, Ohio

April 1, 2025

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee.

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**Appendix** 

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, the related statement of operations for the year then ended, and the statements of changes in contract owners' equity for each of the years in the two-year period then ended.

AB FUNDS

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)<sup>1</sup>

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)

ADVISOR PREFERRED

Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)

ALGER AMERICAN FUNDS

Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)

Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)

Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)

ALLSPRING GLOBAL INVESTMENTS

Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)

Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)

ALPS FUNDS

ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)

ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)

ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)

ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)

ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)

ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)

American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)

American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)

American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)

American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)

American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)

American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)

American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)

American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)

American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)

American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)

American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)

American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)

American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)

American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)

American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)

American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)

American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)

AMUNDI US

Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)

Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)

Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)

Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)

Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)

Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)

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BLACKROCK FUNDS

BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)

BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)

BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)

BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)

BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)

BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)

BNY MELLON INVESTMENT MANAGEMENT

BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)

BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)

CALVERT GROUP

Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)

COLUMBIA FUNDS MANAGEMENT COMPANY

Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)

Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)

Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)

CREDIT SUISSE ASSET MANAGEMENT

Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)

DELAWARE FUNDS BY MACQUARIE

Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)<sup>1</sup>

DIMENSIONAL FUND ADVISORS INC.

DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)

DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)

DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)

DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)

DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)

DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)

DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)

DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)

EATON VANCE FUNDS

Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)

FEDERATED HERMES, INC.

Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)

Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)

Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)

Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)

Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)

Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)

Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)

Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)

Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)

Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)

Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)

Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)

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Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)

Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)

FIRST EAGLE

First Eagle Variable Funds - Overseas Variable Fund (FEOVF)

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)

Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)

Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)

Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)

Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)

Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)

Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)

GOLDMAN SACHS ASSET MANAGEMENT GROUP

Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)

GUGGENHEIM INVESTMENTS

Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)

Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)

Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)

Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)

Rydex Variable Trust - Biotechnology Fund (RBF)

Rydex Variable Trust - Banking Fund (RBKF)

Rydex Variable Trust - Basic Materials Fund (RBMF)

Rydex Variable Trust - Electronics Fund (RELF)

Rydex Variable Trust - Energy Fund (RENF)

Rydex Variable Trust - Energy Services Fund (RESF)

Rydex Variable Trust - Financial Services Fund (RFSF)

Rydex Variable Trust - Health Care Fund (RHCF)

Rydex Variable Trust - High Yield Strategy Fund (RHYS)

Rydex Variable Trust - Internet Fund (RINF)

Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)

Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)

Rydex Variable Trust - Japan 2x Strategy Fund (RLCJ)

Rydex Variable Trust - Leisure Fund (RLF)

Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)

Rydex Variable Trust - Russell 2000(R) 1.5x Strategy Fund (RMEK)

Rydex Variable Trust - Nova Fund (RNF)

Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)

Rydex Variable Trust - Precious Metals Fund (RPMF)

Rydex Variable Trust - Real Estate Fund (RREF)

Rydex Variable Trust - Retailing Fund (RRF)

Rydex Variable Trust - Technology Fund (RTEC)

Rydex Variable Trust - Telecommunications Fund (RTEL)

Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)

Rydex Variable Trust - Transportation Fund (RTRF)

Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)

Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)

Rydex Variable Trust - Utilities Fund (RUTL)

Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)

'Rydex Variable Trust - Commodities Strategy Fund (RVCMD)

Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)

Rydex Variable Trust - Inverse Russell 2000(R) Strategy Fund (RVISC)

Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)

Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)

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Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)

Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)

Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)

Rydex Variable Trust - Global Managed Futures Fund (RVMFU)

Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)

Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)

Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)

Rydex Variable Trust - Weakening Dollar 2x Strategy Fund (RVWDL)

Guggenheim Variable Funds Trust - Series P (High Yield Series) (SBLP)

INVESCO INVESTMENTS

Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)

Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)

Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)

Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)

Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)

Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)

Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)

Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)

Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)

Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)

Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)

Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)

Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)

Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)

Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)

Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)

Invesco - Invesco V.I. Global Fund: Series II (OVGSS)

Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)

IVY INVESTMENTS

Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)<sup>1</sup>

Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)<sup>1</sup>

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)

Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)

Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)

Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)

Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)

Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)

Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)

Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)

Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)

JOHN HANCOCK FUNDS

John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)

LAZARD FUNDS

Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)

Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)

Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)

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LEGG MASON

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)1

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)

Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)

LORD ABBETT FUNDS

Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)

Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)

MFS(R) Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)

MFS(R) Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)

MFS(R) Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)

MERGER FUNDS

The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)

Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)

Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)

Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)

Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)

Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)

Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)

Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)

Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)

NEUBERGER & BERMAN MANAGEMENT, INC.

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)

Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)

Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)

NORTHERN LIGHTS

Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)

Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)

Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)

Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)

Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)

NYLI FUNDS

New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)<sup>1</sup>

PIMCO FUNDS

PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)

PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)

PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)

PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)

PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)

PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)

PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)

PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)

PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)

PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)

PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)

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PIMCO Variable Insurance Trust - CommodityRealReturn(R) Strategy Portfolio: Administrative Class (PMVRSA)

PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)

PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)

PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)

PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)

PROFUNDS

ProFunds - ProFund VP Asia 30 (PROA30)<sup>1</sup>

ProFunds - ProFund Access VP High Yield (PROAHY)<sup>1</sup>

ProFunds - ProFund VP Biotechnology (PROBIO)<sup>1</sup>

ProFunds - ProFund VP Bull (PROBL)<sup>1</sup>

ProFunds - ProFund VP Materials (PROBM)<sup>1</sup>

ProFunds - ProFund VP Banks (PROBNK)<sup>1</sup>

ProFunds - ProFund VP Consumer Staples (PROCG)<sup>1</sup>

ProFunds - ProFund VP Consumer Discretionary (PROCS)<sup>1</sup>

ProFunds - ProFund VP Emerging Markets (PROEM)<sup>1</sup>

ProFunds - ProFund VP Financials (PROFIN)<sup>1</sup>

ProFunds - ProFund VP U.S. Government Plus (PROGVP)<sup>1</sup>

ProFunds - ProFund VP Health Care (PROHC)<sup>1</sup>

ProFunds - ProFund VP Industrials (PROIND)<sup>1</sup>

ProFunds - ProFund VP International (PROINT)<sup>1</sup>

ProFunds - ProFund VP Japan (PROJP)<sup>1</sup>

ProFunds - ProFund VP Large-Cap Growth (PROLCG)<sup>1</sup>

ProFunds - ProFund VP Large-Cap Value (PROLCV)<sup>1</sup>

ProFunds - ProFund VP Mid-Cap (PROMC)<sup>1</sup>

ProFunds - ProFund VP Mid-Cap Growth (PROMCG)<sup>1</sup>

ProFunds - ProFund VP Mid-Cap Value (PROMCV)<sup>1</sup>

ProFunds - ProFund VP Nasdaq-100 (PRON)<sup>1</sup>

ProFunds - ProFund VP Internet (PRONET)<sup>1</sup>

ProFunds - ProFund VP Energy (PROOG)<sup>1</sup>

ProFunds - ProFund VP Precious Metals (PROPM)<sup>1</sup>

ProFunds - ProFund VP Real Estate (PRORE)<sup>1</sup>

ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)<sup>1</sup>

ProFunds - ProFund VP Small-Cap (PROSC)<sup>1</sup>

ProFunds - ProFund VP Small-Cap Growth (PROSCG)<sup>1</sup>

ProFunds - ProFund VP Semiconductor (PROSCN)<sup>1</sup>

ProFunds - ProFund VP Small-Cap Value (PROSCV)<sup>1</sup>

ProFunds - ProFund VP Short Emerging Markets (PROSEM)<sup>1</sup>

ProFunds - ProFund VP Short Nasdaq-100 (PROSN)<sup>1</sup>

ProFunds - ProFund VP Technology (PROTEC)<sup>1</sup>

ProFunds - ProFund VP Communication Services (PROTEL)<sup>1</sup>

ProFunds - ProFund VP UltraBull (PROUB)<sup>1</sup>

ProFunds - ProFund VP UltraNasdaq-100 (PROUN)<sup>1</sup>

ProFunds - ProFund VP UltraSmall-Cap (PROUSC)<sup>1</sup>

ProFunds - ProFund VP UltraShort Nasdaq-100 (PROUSN)<sup>1</sup>

ProFunds - ProFund VP Utilities (PROUTL)<sup>1</sup>

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)

Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)

Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)

Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)

Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)

ROYCE CAPITAL FUNDS

Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)

Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)

------

&nbsp;&nbsp;&nbsp;&nbsp;T. ROWE PRICE

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)

THIRD AVENUE FUNDS

Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)

VAN ECK ASSOCIATES CORPORATION

VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)

VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)

VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)

VANGUARD GROUP OF INVESTMENT COMPANIES

Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)

Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)

Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)

Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)

Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)

Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)

Vanguard Variable Insurance Fund - Growth Portfolio (VVG)

Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)

Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)

Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)

Vanguard Variable Insurance Fund - International Portfolio (VVI)

Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)

Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)

Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)

Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)

Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)

Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)

Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)

VIRTUS MUTUAL FUNDS

Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)

Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)

Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, the related statement of operations for the year then ended, and the statements of changes in contract owners' equity for the year ended December 31, 2024 and the period from May 4, 2023 (inception) to December 31, 2023.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, the related statement of operations for the year then ended, and the statements of changes in contract owners' equity for the year ended December 31, 2024 and the period from June 2, 2023 (inception) to December 31, 2023.

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)

------

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, the related statement of operations for the year then ended, and the statements of changes in contract owners' equity for the year ended December 31, 2024 and the period from July 18, 2023 (inception) to December 31, 2023.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, the related statement of operations for the year then ended, and the statements of changes in contract owners' equity for the year ended December 31, 2024 and the period from September 15, 2023 (inception) to December 31, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;T. ROWE PRICE

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, the related statement of operations for the year then ended, and the statements of changes in contract owners' equity for the year ended December 31, 2024 and the period from October 26, 2023 (inception) to December 31, 2023.

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, and the related statements of operations and changes in contract owners' equity for the period April 26, 2024 (inception) to December 31, 2024.

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)

Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)

Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)

Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)

Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)

Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)

Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, and the related statements of operations and changes in contract owners' equity for the period October 25, 2024 (inception) to December 31, 2024.

NEW AGE ALPHA ADVISORS, LLC

New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)

New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)

New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, and the related statements of operations and changes in contract owners' equity for the period November 14, 2024 (inception) to December 31, 2024.

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)

------

Statement of assets, liabilities and contract owners' equity as of December 31, 2024, and the related statements of operations and changes in contract owners' equity for the period December 9, 2024 (inception) to December 31, 2024.

FIDELITY INVESTMENTS

Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)<sup>1</sup>

<sup>(1)</sup> See Note 1 to the financial statements for the former name of the sub-account.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount\*,\*\*** | **Shares** | **Cost** | **Cost** | **Investments, at<br>fair value** | **Investments, at<br>fair value** | **Accounts** <br> **Receivable**  | **Accounts** <br> **Receivable**  | **Total Assets** | **Total Assets** | **Accounts** <br> **Payable**  | **Accounts** <br> **Payable**  | **Contract<br>Owners'<br>Equity** | **Contract<br>Owners'<br>Equity** | **Accumulation<br>Units** | **Accumulation<br>Units** | **Contracts in<br>Payout** | **Contract<br>Owners'<br>Equity** |
|  ABTGB | 2610 | $— | 84634 | $— | 85623 | $— |  | $— | 85623 | $— |  | $— | 85623 | $— | 85623 | $– $| 85623 |
|  ALVGIA | 15084 |  | 441021 |  | 477868 |  |  |  | 477868 |  |  |  | 477868 |  | 477868 | – | 477868 |
|  ALVIVB | 3308 |  | 45413 |  | 49819 |  |  |  | 49819 |  |  |  | 49819 |  | 49819 | – | 49819 |
|  ALVSVB | 3227 |  | 50619 |  | 58147 |  |  |  | 58147 |  |  |  | 58147 |  | 58147 | – | 58147 |
|  APTGBS | 40064 |  | 993845 |  | 1065714 |  |  |  | 1065714 |  |  |  | 1065714 |  | 1065714 | – | 1065714 |
|  ALCAI2 | 11247 |  | 1125185 |  | 1303228 |  | 1 |  | 1303229 |  |  |  | 1303229 |  | 1303229 | – | 1303229 |
|  ALCGI2 | 344 |  | 25839 |  | 30687 |  |  |  | 30687 |  |  |  | 30687 |  | 30687 | – | 30687 |
|  ALMGI2 | 8878 |  | 174617 |  | 181106 |  |  |  | 181106 |  |  |  | 181106 |  | 181106 | – | 181106 |
|  SVOF | 3849 |  | 98894 |  | 103375 |  |  |  | 103375 |  |  |  | 103375 |  | 103375 | – | 103375 |
|  AAEIP3 | 10657 |  | 144230 |  | 152186 |  |  |  | 152186 |  |  |  | 152186 |  | 152186 | – | 152186 |
|  AAGEA2 | 49214 |  | 776066 |  | 756917 |  |  |  | 756917 |  |  |  | 756917 |  | 756917 | – | 756917 |
|  ABEAA2 | 94297 |  | 1003940 |  | 1051412 |  |  |  | 1051412 |  |  |  | 1051412 |  | 1051412 | – | 1051412 |
|  ACEAA2 | 70012 |  | 701307 |  | 714118 |  | 1 |  | 714119 |  |  |  | 714119 |  | 714119 | – | 714119 |
|  AGEAA2 | 107203 |  | 1209342 |  | 1323955 |  |  |  | 1323955 |  |  |  | 1323955 |  | 1323955 | – | 1323955 |
|  AUGEA2 | 78735 |  | 821102 |  | 814124 |  |  |  | 814124 |  |  |  | 814124 |  | 814124 | – | 814124 |
|  AMVAA4 | 154716 |  | 3817642 |  | 3931333 |  |  |  | 3931333 |  |  |  | 3931333 |  | 3931333 | – | 3931333 |
|  AMVBC4 | 61183 |  | 803994 |  | 999733 |  | 1 |  | 999734 |  |  |  | 999734 |  | 999734 | – | 999734 |
|  AMVBD4 | 224594 |  | 2105043 |  | 2037068 |  |  |  | 2037068 |  | 1 |  | 2037067 |  | 2037067 | – | 2037067 |
|  AMVCB4 | 126839 |  | 1462006 |  | 1567732 |  |  |  | 1567732 |  |  |  | 1567732 |  | 1567732 | – | 1567732 |
|  AMVGB4 | 29769 |  | 326959 |  | 278934 |  |  |  | 278934 |  |  |  | 278934 |  | 278934 | – | 278934 |
|  AMVGG4 | 18694 |  | 653498 |  | 671660 |  |  |  | 671660 |  |  |  | 671660 |  | 671660 | – | 671660 |
|  AMVGI4 | 28649 |  | 1638522 |  | 1923520 |  |  |  | 1923520 |  |  |  | 1923520 |  | 1923520 | – | 1923520 |
|  AMVGR4 | 16283 |  | 1509934 |  | 1992710 |  |  |  | 1992710 |  |  |  | 1992710 |  | 1992710 | – | 1992710 |
|  AMVGS4 | 14310 |  | 250646 |  | 243416 |  |  |  | 243416 |  |  |  | 243416 |  | 243416 | – | 243416 |
|  AMVGW4 | 22865 |  | 307141 |  | 344798 |  |  |  | 344798 |  |  |  | 344798 |  | 344798 | – | 344798 |
|  AMVHI4 | 162356 |  | 1631014 |  | 1634921 |  | 1 |  | 1634922 |  |  |  | 1634922 |  | 1634922 | – | 1634922 |
|  AMVI4 | 23146 |  | 451058 |  | 404123 |  |  |  | 404123 |  |  |  | 404123 |  | 404123 | – | 404123 |
|  AMVIG4 | 91782 |  | 1028737 |  | 893958 |  |  |  | 893958 |  |  |  | 893958 |  | 893958 | – | 893958 |
|  AMVM4 | 7723 |  | 70032 |  | 68426 |  |  |  | 68426 |  |  |  | 68426 |  | 68426 | – | 68426 |
|  AMVNW4 | 130195 |  | 3409879 |  | 3398087 |  |  |  | 3398087 |  | 1 |  | 3398086 |  | 3398086 | – | 3398086 |
|  AMVUA4 | 81368 |  | 796009 |  | 768110 |  |  |  | 768110 |  |  |  | 768110 |  | 768110 | – | 768110 |
|  AVPAP2 | 28568 |  | 356681 |  | 365101 |  |  |  | 365101 |  |  |  | 365101 |  | 365101 | – | 365101 |
|  AVRBP2 | 16927 |  | 187178 |  | 197874 |  |  |  | 197874 |  |  |  | 197874 |  | 197874 | – | 197874 |
|  PIHYB2 | 109968 |  | 919618 |  | 923734 |  | 1 |  | 923735 |  |  |  | 923735 |  | 923735 | – | 923735 |
|  PIVB2 | 24924 |  | 259873 |  | 234034 |  |  |  | 234034 |  |  |  | 234034 |  | 234034 | – | 234034 |
|  PIVEI2 | 1854 |  | 26061 |  | 24690 |  |  |  | 24690 |  |  |  | 24690 |  | 24690 | – | 24690 |
|  PIVF2 | 28863 |  | 465391 |  | 542629 |  |  |  | 542629 |  |  |  | 542629 |  | 542629 | – | 542629 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount\*,\*\*** | **Shares** | **Cost** | **Investments, at<br>fair value** | **Accounts** <br> **Receivable**  | **Total Assets** | **Accounts** <br> **Payable**  | **Contract<br>Owners'<br>Equity** | **Accumulation<br>Units** | **Contracts in<br>Payout** | **Contract<br>Owners'<br>Equity** |
|  PIVMV2 | 9545 | 104373 | 107478 |  | 107478 |  | 107478 | 107478 | – | 107478 |
|  PIVSI2 | 59360 | 591551 | 524149 |  | 524149 |  | 524149 | 524149 | – | 524149 |
|  BRVED3 | 14969 | 168194 | 157479 |  | 157479 |  | 157479 | 157479 | – | 157479 |
|  BRVHY3 | 111430 | 741559 | 768865 | 4057 | 772922 |  | 772922 | 772922 | – | 772922 |
|  BRVTR3 | 73592 | 753257 | 721206 | 2433 | 723639 |  | 723639 | 723639 | – | 723639 |
|  BVLCC3 | 8735 | 191543 | 217595 |  | 217595 |  | 217595 | 217595 | – | 217595 |
|  BVLCV3 | 642 | 6410 | 6087 |  | 6087 |  | 6087 | 6087 | – | 6087 |
|  BVLFG3 | 35814 | 739221 | 800442 | 2 | 800444 |  | 800444 | 800444 | – | 800444 |
|  MLVGA3 | 94843 | 1339269 | 1222520 | 1 | 1222521 |  | 1222521 | 1222521 | – | 1222521 |
|  DSIF | 9223 | 698956 | 735632 |  | 735632 |  | 735632 | 735632 | – | 735632 |
|  DSRG | 7553 | 354694 | 419276 |  | 419276 | 1 | 419275 | 419275 | – | 419275 |
|  DVSCS | 141385 | 2576727 | 2741451 |  | 2741451 | 1 | 2741450 | 2741450 | – | 2741450 |
|  CVN1IF | 1929 | 317190 | 313406 |  | 313406 |  | 313406 | 313406 | – | 313406 |
|  CVSBF | 342975 | 891162 | 926031 | 1 | 926032 |  | 926032 | 926032 | – | 926032 |
|  CLVGT2 | 77760 | 2056534 | 2197506 |  | 2197506 |  | 2197506 | 2197506 | – | 2197506 |
|  CLVLV1 | 7156 | 246586 | 312634 |  | 312634 | 1 | 312633 | 312633 | – | 312633 |
|  CLVSI2 | 111113 | 396649 | 405563 |  | 405563 |  | 405563 | 405563 | – | 405563 |
|  CLVSV1 | 3114 | 108695 | 122455 |  | 122455 |  | 122455 | 122455 | – | 122455 |
|  CSCRS | 2991 | 54129 | 53776 |  | 53776 |  | 53776 | 53776 | – | 53776 |
|  DWVSVS | 15258 | 620019 | 614125 |  | 614125 | 1 | 614124 | 614124 | – | 614124 |
|  DFVEA | 651706 | 9609624 | 10336054 |  | 10336054 |  | 10336054 | 10336054 | – | 10336054 |
|  DFVGB | 373817 | 3828154 | 3640982 | 2 | 3640984 |  | 3640984 | 3640984 | – | 3640984 |
|  DFVGMI | 316359 | 4667967 | 5172476 |  | 5172476 | 1 | 5172475 | 5172475 | – | 5172475 |
|  DFVIS | 216819 | 2651200 | 2512937 | 1 | 2512938 |  | 2512938 | 2512938 | – | 2512938 |
|  DFVIV | 306984 | 4167439 | 4190335 |  | 4190335 | 1 | 4190334 | 4190334 | – | 4190334 |
|  DFVSTF | 486471 | 4915934 | 4898759 |  | 4898759 | 1 | 4898758 | 4898758 | – | 4898758 |
|  DFVULV | 158393 | 5042621 | 5155696 | 1 | 5155697 |  | 5155697 | 5155697 | – | 5155697 |
|  DFVUTV | 242984 | 5434434 | 5484152 | 1 | 5484153 |  | 5484153 | 5484153 | – | 5484153 |
|  ETVFR | 240070 | 2038414 | 2066999 |  | 2066999 |  | 2066999 | 2066999 | – | 2066999 |
|  FHIB | 63062 | 344421 | 358194 |  | 358194 |  | 358194 | 358194 | – | 358194 |
|  FVK2S | 40428 | 750365 | 717191 | 1 | 717192 |  | 717192 | 717192 | – | 717192 |
|  FVU2 | 114166 | 1086356 | 1163355 |  | 1163355 |  | 1163355 | 1163355 | – | 1163355 |
|  FB2 | 61543 | 1260505 | 1457959 |  | 1457959 | 1 | 1457958 | 1457958 | – | 1457958 |
|  FC2 | 70723 | 3520436 | 3925101 |  | 3925101 |  | 3925101 | 3925101 | – | 3925101 |
|  FDSCS2 | 42669 | 720868 | 801751 |  | 801751 |  | 801751 | 801751 | – | 801751 |
|  FEI2 | 20460 | 512462 | 521726 | 1 | 521727 |  | 521727 | 521727 | – | 521727 |
|  FEMS2 | 1741 | 20424 | 19968 |  | 19968 |  | 19968 | 19968 | – | 19968 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount\*,\*\*** | **Shares** | **Cost** | **Investments, at<br>fair value** | **Accounts** <br> **Receivable**  | **Total Assets** | **Accounts** <br> **Payable**  | **Contract<br>Owners'<br>Equity** | **Accumulation<br>Units** | **Contracts in<br>Payout** | **Contract<br>Owners'<br>Equity** |
|  FG2 | 27601 | 2571654 | 2559724 |  | 2559724 |  | 2559724 | 2559724 | – | 2559724 |
|  FGI2 | 11929 | 343483 | 351084 |  | 351084 | 1 | 351083 | 351083 | – | 351083 |
|  FGO2 | 20982 | 1122342 | 1685885 |  | 1685885 |  | 1685885 | 1685885 | – | 1685885 |
|  FHI2 | 19420 | 86065 | 86808 |  | 86808 | 1 | 86807 | 86807 | – | 86807 |
|  FIGBP2 | 438417 | 4724225 | 4655991 |  | 4655991 | 1 | 4655990 | 4655990 | – | 4655990 |
|  FMC2 | 20797 | 762102 | 737860 |  | 737860 |  | 737860 | 737860 | – | 737860 |
|  FNRS2 | 19856 | 500586 | 496986 |  | 496986 |  | 496986 | 496986 | – | 496986 |
|  FO2 | 16717 | 449109 | 420432 | 1 | 420433 |  | 420433 | 420433 | – | 420433 |
|  FRESS2 | 11579 | 194518 | 199970 | 2 | 199972 |  | 199972 | 199972 | – | 199972 |
|  FV2 | 25303 | 464050 | 468358 |  | 468358 |  | 468358 | 468358 | – | 468358 |
|  FVFI2 | 13201 | 154326 | 144950 |  | 144950 |  | 144950 | 144950 | – | 144950 |
|  FVFRHI | 111713 | 1121162 | 1108197 |  | 1108197 | 2 | 1108195 | 1108195 | – | 1108195 |
|  FVICA2 | 90925 | 1875012 | 2043079 |  | 2043079 |  | 2043079 | 2043079 | – | 2043079 |
|  FVSIS2 | 204922 | 2208766 | 2166028 |  | 2166028 |  | 2166028 | 2166028 | – | 2166028 |
|  FVSS2 | 54260 | 907257 | 853512 |  | 853512 |  | 853512 | 853512 | – | 853512 |
|  FEOVF | 40607 | 988703 | 950612 |  | 950612 |  | 950612 | 950612 | – | 950612 |
|  FTVGI2 | 1092 | 13637 | 12431 |  | 12431 |  | 12431 | 12431 | – | 12431 |
|  FTVGR2 | 5289 | 65535 | 64902 |  | 64902 |  | 64902 | 64902 | – | 64902 |
|  FTVIS2 | 31314 | 479500 | 449676 |  | 449676 |  | 449676 | 449676 | – | 449676 |
|  FTVMS2 | 896 | 13793 | 14693 |  | 14693 |  | 14693 | 14693 | – | 14693 |
|  FTVRD2 | 23967 | 644836 | 672992 |  | 672992 |  | 672992 | 672992 | – | 672992 |
|  FTVSI2 | 90050 | 826939 | 805945 |  | 805945 | 1 | 805944 | 805944 | – | 805944 |
|  FTVUG2 | 4539 | 46290 | 46211 |  | 46211 |  | 46211 | 46211 | – | 46211 |
|  GVMSA | 43027 | 391781 | 382078 |  | 382078 |  | 382078 | 382078 | – | 382078 |
|  GVFRB | 108264 | 2638566 | 2699024 | 1 | 2699025 |  | 2699025 | 2699025 | – | 2699025 |
|  GVR2XS | 379 | 66419 | 61127 |  | 61127 |  | 61127 | 61127 | – | 61127 |
|  GVTRBE | 198226 | 3103768 | 2830666 |  | 2830666 | 1 | 2830665 | 2830665 | – | 2830665 |
|  RBF | 313 | 24256 | 23420 |  | 23420 |  | 23420 | 23420 | – | 23420 |
|  RBKF | 261 | 31822 | 30318 |  | 30318 |  | 30318 | 30318 | – | 30318 |
|  RELF | 1495 | 382065 | 350349 |  | 350349 |  | 350349 | 350349 | – | 350349 |
|  RENF |  | 16 | 15 |  | 15 |  | 15 | 15 | – | 15 |
|  RFSF | 918 | 104022 | 105842 |  | 105842 |  | 105842 | 105842 | – | 105842 |
|  RHCF | 343 | 27755 | 27155 |  | 27155 |  | 27155 | 27155 | – | 27155 |
|  RHYS | 3516 | 280815 | 281286 |  | 281286 |  | 281286 | 281286 | – | 281286 |
|  RJNF | 64 | 6601 | 7371 |  | 7371 |  | 7371 | 7371 | – | 7371 |
|  RLF | 51 | 5656 | 6418 |  | 6418 |  | 6418 | 6418 | – | 6418 |
|  RMED | 860 | 194012 | 203573 | 1 | 203574 |  | 203574 | 203574 | – | 203574 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount\*,\*\*** | **Shares** | **Cost** | **Investments, at<br>fair value** | **Accounts** <br> **Receivable**  | **Total Assets** | **Accounts** <br> **Payable**  | **Contract<br>Owners'<br>Equity** | **Accumulation<br>Units** | **Contracts in<br>Payout** | **Contract<br>Owners'<br>Equity** |
|  ROF | 19195 | 1408579 | 1651911 | 1 | 1651912 |  | 1651912 | 1651912 | – | 1651912 |
|  RPMF | 1126 | 44579 | 45305 |  | 45305 |  | 45305 | 45305 | – | 45305 |
|  RREF | 1265 | 61436 | 47669 | 1 | 47670 |  | 47670 | 47670 | – | 47670 |
|  RTEC | 1284 | 268186 | 273216 |  | 273216 |  | 273216 | 273216 | – | 273216 |
|  RTRF | 62 | 4816 | 5612 | 1 | 5613 |  | 5613 | 5613 | – | 5613 |
|  RUGB | 25 | 476 | 455 |  | 455 |  | 455 | 455 | – | 455 |
|  RUTL | 2352 | 88316 | 88072 |  | 88072 |  | 88072 | 88072 | – | 88072 |
|  RVARS | 1772 | 47020 | 42061 |  | 42061 |  | 42061 | 42061 | – | 42061 |
|  RVCMD | 208 | 18621 | 18460 |  | 18460 |  | 18460 | 18460 | – | 18460 |
|  RVF | 2319 | 426437 | 430760 |  | 430760 | 2 | 430758 | 430758 | – | 430758 |
|  RVLCG | 3036 | 126618 | 169497 |  | 169497 |  | 169497 | 169497 | – | 169497 |
|  RVLCV | 5456 | 270193 | 329976 |  | 329976 |  | 329976 | 329976 | – | 329976 |
|  RVMCG | 14408 | 576470 | 550383 |  | 550383 |  | 550383 | 550383 | – | 550383 |
|  RVMCV | 596 | 29689 | 30136 |  | 30136 |  | 30136 | 30136 | – | 30136 |
|  RVMFU | 4342 | 77251 | 71813 |  | 71813 |  | 71813 | 71813 | – | 71813 |
|  RVSCG | 1022 | 46186 | 54021 |  | 54021 |  | 54021 | 54021 | – | 54021 |
|  RVSCV | 469 | 30714 | 39802 |  | 39802 |  | 39802 | 39802 | – | 39802 |
|  RVSDL | 179 | 9061 | 9553 |  | 9553 |  | 9553 | 9553 | – | 9553 |
|  ACC1 | 46954 | 921327 | 972882 |  | 972882 |  | 972882 | 972882 | – | 972882 |
|  AVHY1 | 7973 | 37940 | 38029 |  | 38029 |  | 38029 | 38029 | – | 38029 |
|  AVIE | 3432 | 121129 | 115026 |  | 115026 |  | 115026 | 115026 | – | 115026 |
|  IVBRA2 | 112725 | 942974 | 932239 |  | 932239 |  | 932239 | 932239 | – | 932239 |
|  IVCPBI | 604346 | 3614780 | 3444773 |  | 3444773 |  | 3444773 | 3444773 | – | 3444773 |
|  IVDDI | 15961 | 421062 | 413059 |  | 413059 |  | 413059 | 413059 | – | 413059 |
|  IVGMMI | 9582808 | 9582808 | 9582808 |  | 9582808 | 1 | 9582807 | 9582807 | – | 9582807 |
|  IVGS1 | 15410 | 156058 | 157649 | 1 | 157650 |  | 157650 | 157650 | – | 157650 |
|  IVHS | 5883 | 172842 | 158771 |  | 158771 | 1 | 158770 | 158770 | – | 158770 |
|  IVKEI1 | 63800 | 1094091 | 1113954 |  | 1113954 |  | 1113954 | 1113954 | – | 1113954 |
|  IVMCC2 | 9774 | 94052 | 104488 |  | 104488 | 2 | 104486 | 104486 | – | 104486 |
|  IVRE | 9145 | 143805 | 122457 |  | 122457 | 1 | 122456 | 122456 | – | 122456 |
|  IVT | 57677 | 1199845 | 1372721 |  | 1372721 |  | 1372721 | 1372721 | – | 1372721 |
|  OVGIS | 699 | 12093 | 13845 |  | 13845 |  | 13845 | 13845 | – | 13845 |
|  OVGSS | 1385 | 47753 | 53529 |  | 53529 | 1 | 53528 | 53528 | – | 53528 |
|  OVIGS | 41128 | 89908 | 80610 |  | 80610 |  | 80610 | 80610 | – | 80610 |
|  WRASP | 48877 | 450993 | 454070 |  | 454070 |  | 454070 | 454070 | – | 454070 |
|  WRBDP | 544255 | 2811979 | 2530785 |  | 2530785 |  | 2530785 | 2530785 | – | 2530785 |
|  WRBP | 6013 | 28651 | 37042 |  | 37042 |  | 37042 | 37042 | – | 37042 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount\*,\*\*** | **Shares** | **Cost** | **Investments, at<br>fair value** | **Accounts** <br> **Receivable**  | **Total Assets** | **Accounts** <br> **Payable**  | **Contract<br>Owners'<br>Equity** | **Accumulation<br>Units** | **Contracts in<br>Payout** | **Contract<br>Owners'<br>Equity** |
|  WRGNR | 24552 | 114795 | 109255 |  | 109255 |  | 109255 | 109255 | – | 109255 |
|  WRHIP | 8755 | 25652 | 25652 | 1 | 25653 |  | 25653 | 25653 | – | 25653 |
|  WRLTBP | 75276 | 349855 | 353800 |  | 353800 | 1 | 353799 | 353799 | – | 353799 |
|  WRMCG | 70089 | 705046 | 695982 |  | 695982 |  | 695982 | 695982 | – | 695982 |
|  WRSTP | 4426 | 109139 | 128764 |  | 128764 | 1 | 128763 | 128763 | – | 128763 |
|  WRVP | 985 | 4676 | 4609 | 1 | 4610 |  | 4610 | 4610 | – | 4610 |
|  JABIN | 73649 | 3232747 | 3772287 |  | 3772287 |  | 3772287 | 3772287 | – | 3772287 |
|  JAEI | 20165 | 1552053 | 1697487 | 1 | 1697488 |  | 1697488 | 1697488 | – | 1697488 |
|  JAFBS | 12125 | 154056 | 131804 |  | 131804 |  | 131804 | 131804 | – | 131804 |
|  JAFRIN | 30970 | 1599434 | 1777057 |  | 1777057 |  | 1777057 | 1777057 | – | 1777057 |
|  JAGRIN | 6884 | 460749 | 499794 |  | 499794 |  | 499794 | 499794 | – | 499794 |
|  JAGSEI | 131 | 1357 | 1510 |  | 1510 |  | 1510 | 1510 | – | 1510 |
|  JAIG | 22441 | 992679 | 985602 |  | 985602 |  | 985602 | 985602 | – | 985602 |
|  JARIN | 8432 | 417110 | 500833 |  | 500833 | 1 | 500832 | 500832 | – | 500832 |
|  JMCVIN | 47385 | 832193 | 881832 |  | 881832 |  | 881832 | 881832 | – | 881832 |
|  JHEVTN | 132818 | 1298678 | 1247165 |  | 1247165 |  | 1247165 | 1247165 | – | 1247165 |
|  LZREMS | 5017 | 108355 | 108613 |  | 108613 |  | 108613 | 108613 | – | 108613 |
|  LZRIES | 12669 | 113107 | 117952 |  | 117952 |  | 117952 | 117952 | – | 117952 |
|  LZRUSM | 5551 | 79429 | 80262 |  | 80262 |  | 80262 | 80262 | – | 80262 |
|  LPVCAI | 1839 | 33355 | 26681 |  | 26681 | 2 | 26679 | 26679 | – | 26679 |
|  LPVCII | 10726 | 225064 | 227390 |  | 227390 |  | 227390 | 227390 | – | 227390 |
|  LVCLGI | 16643 | 655492 | 789373 |  | 789373 |  | 789373 | 789373 | – | 789373 |
|  SBVHY | 13859 | 82260 | 83709 | 1 | 83710 |  | 83710 | 83710 | – | 83710 |
|  SBVSG2 | 46285 | 1190723 | 1178874 |  | 1178874 | 1 | 1178873 | 1178873 | – | 1178873 |
|  LACB2 | 115711 | 908487 | 972318 | 1 | 972319 |  | 972319 | 972319 | – | 972319 |
|  LACDV2 | 3497 | 91867 | 29955 |  | 29955 |  | 29955 | 29955 | – | 29955 |
|  LACI2 | 49645 | 532792 | 530405 |  | 530405 |  | 530405 | 530405 | – | 530405 |
|  LACIPS | 20954 | 192472 | 192023 |  | 192023 |  | 192023 | 192023 | – | 192023 |
|  LACLV2 | 1020 | 18531 | 19179 |  | 19179 |  | 19179 | 19179 | – | 19179 |
|  LACU2 | 25469 | 673493 | 772999 | 1 | 773000 |  | 773000 | 773000 | – | 773000 |
|  LACV2 | 351 | 4123 | 4293 |  | 4293 |  | 4293 | 4293 | – | 4293 |
|  LOVBD | 38821 | 415935 | 403742 |  | 403742 |  | 403742 | 403742 | – | 403742 |
|  LOVCDG | 32699 | 537635 | 607550 |  | 607550 |  | 607550 | 607550 | – | 607550 |
|  MEGSS | 6290 | 334292 | 421911 |  | 421911 |  | 421911 | 421911 | – | 421911 |
|  MNDSC | 17833 | 165535 | 191705 |  | 191705 |  | 191705 | 191705 | – | 191705 |
|  MVFSC | 10982 | 246668 | 230735 |  | 230735 |  | 230735 | 230735 | – | 230735 |
|  MVIGSC | 21170 | 311293 | 328563 |  | 328563 |  | 328563 | 328563 | – | 328563 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount\*,\*\*** | **Shares** | **Cost** | **Investments, at<br>fair value** | **Accounts** <br> **Receivable**  | **Total Assets** | **Accounts** <br> **Payable**  | **Contract<br>Owners'<br>Equity** | **Accumulation<br>Units** | **Contracts in<br>Payout** | **Contract<br>Owners'<br>Equity** |
|  MGRFV | 43725 | 527572 | 491036 |  | 491036 |  | 491036 | 491036 | – | 491036 |
|  DTRTFY | 160360 | 1515392 | 1286089 |  | 1286089 |  | 1286089 | 1286089 | – | 1286089 |
|  GEM2 | 3279 | 35008 | 35347 |  | 35347 |  | 35347 | 35347 | – | 35347 |
|  GIG | 21827 | 253798 | 254723 |  | 254723 |  | 254723 | 254723 | – | 254723 |
|  GVEXD | 1312942 | 11805196 | 15006923 |  | 15006923 |  | 15006923 | 15006923 | – | 15006923 |
|  GVIXY | 200695 | 2011478 | 2115330 |  | 2115330 |  | 2115330 | 2115330 | – | 2115330 |
|  MCIFD | 117717 | 2371605 | 2380244 |  | 2380244 | 1 | 2380243 | 2380243 | – | 2380243 |
|  MSBF | 23116 | 208100 | 199952 |  | 199952 |  | 199952 | 199952 | – | 199952 |
|  NVAMVX | 1631 | 26615 | 28859 |  | 28859 |  | 28859 | 28859 | – | 28859 |
|  NVBXD | 123501 | 1157180 | 1115213 |  | 1115213 |  | 1115213 | 1115213 | – | 1115213 |
|  NVFIY | 4471 | 42134 | 41173 |  | 41173 |  | 41173 | 41173 | – | 41173 |
|  NVGEY | 9779 | 158007 | 169083 |  | 169083 |  | 169083 | 169083 | – | 169083 |
|  NVLCPY | 58970 | 592338 | 577318 |  | 577318 |  | 577318 | 577318 | – | 577318 |
|  NVMIVX | 9784 | 100423 | 112618 |  | 112618 |  | 112618 | 112618 | – | 112618 |
|  NVMLG1 | 57835 | 567473 | 565623 |  | 565623 |  | 565623 | 565623 | – | 565623 |
|  NVMMV1 | 14216 | 112049 | 114868 |  | 114868 |  | 114868 | 114868 | – | 114868 |
|  NVSIXD | 458177 | 3831790 | 4022798 |  | 4022798 | 1 | 4022797 | 4022797 | – | 4022797 |
|  SAMY | 15728035 | 15728034 | 15728035 |  | 15728035 | 2 | 15728033 | 15728033 | – | 15728033 |
|  TRF | 12512 | 280514 | 287774 |  | 287774 |  | 287774 | 287774 | – | 287774 |
|  AMCG | 10007 | 314079 | 313011 |  | 313011 |  | 313011 | 313011 | – | 313011 |
|  AMRI | 380 | 6668 | 6263 |  | 6263 |  | 6263 | 6263 | – | 6263 |
|  AMTB | 43246 | 415434 | 417753 |  | 417753 | 1 | 417752 | 417752 | – | 417752 |
|  NALG | 6977 | 164520 | 170660 | 1 | 170661 |  | 170661 | 170661 | – | 170661 |
|  NAMG | 920 | 48083 | 48092 | 1 | 48093 |  | 48093 | 48093 | – | 48093 |
|  NASCV | 10008 | 439543 | 443346 |  | 443346 |  | 443346 | 443346 | – | 443346 |
|  NOTBBA | 969 | 7635 | 7255 |  | 7255 |  | 7255 | 7255 | – | 7255 |
|  NOTC2 | 8978 | 111498 | 114199 |  | 114199 |  | 114199 | 114199 | – | 114199 |
|  NOVPDI | 513 | 8310 | 8149 |  | 8149 |  | 8149 | 8149 | – | 8149 |
|  NOVPM | 299 | 7994 | 9011 |  | 9011 |  | 9011 | 9011 | – | 9011 |
|  MNCPS | 26518 | 389685 | 401046 |  | 401046 |  | 401046 | 401046 | – | 401046 |
|  PMUBAM | 3554 | 30826 | 31064 |  | 31064 |  | 31064 | 31064 | – | 31064 |
|  PMVAAA | 10171 | 91683 | 89402 |  | 89402 |  | 89402 | 89402 | – | 89402 |
|  PMVEBA | 28829 | 311055 | 306746 | 1 | 306747 |  | 306747 | 306747 | – | 306747 |
|  PMVFBA | 3171 | 23234 | 22422 |  | 22422 |  | 22422 | 22422 | – | 22422 |
|  PMVFHA | 43267 | 418179 | 432670 |  | 432670 |  | 432670 | 432670 | – | 432670 |
|  PMVGBA | 91796 | 920056 | 848195 |  | 848195 | 1 | 848194 | 848194 | – | 848194 |
|  PMVHYA | 133414 | 974981 | 965916 |  | 965916 | 1 | 965915 | 965915 | – | 965915 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount\*,\*\*** | **Shares** | **Cost** | **Investments, at<br>fair value** | **Accounts** <br> **Receivable**  | **Total Assets** | **Accounts** <br> **Payable**  | **Contract<br>Owners'<br>Equity** | **Accumulation<br>Units** | **Contracts in<br>Payout** | **Contract<br>Owners'<br>Equity** |
|  PMVID | 888022 | 9023603 | 8782533 | 1 | 8782534 |  | 8782534 | 8782534 | – | 8782534 |
|  PMVLDA | 211653 | 2124225 | 2040334 |  | 2040334 | 1 | 2040333 | 2040333 | – | 2040333 |
|  PMVLGA | 196187 | 1569258 | 1426282 |  | 1426282 | 1 | 1426281 | 1426281 | – | 1426281 |
|  PMVRRA | 71189 | 896186 | 819389 | 2 | 819391 |  | 819391 | 819391 | – | 819391 |
|  PMVRSA | 15636 | 86240 | 85217 |  | 85217 |  | 85217 | 85217 | – | 85217 |
|  PMVTRA | 531151 | 5329968 | 4801608 | 1 | 4801609 |  | 4801609 | 4801609 | – | 4801609 |
|  PVGCBA | 16642 | 143448 | 145949 | 1 | 145950 |  | 145950 | 145950 | – | 145950 |
|  PVGMAA | 17252 | 193107 | 172697 |  | 172697 |  | 172697 | 172697 | – | 172697 |
|  PVSTA | 240015 | 2459270 | 2476960 |  | 2476960 |  | 2476960 | 2476960 | – | 2476960 |
|  PROAHY | 8647 | 206033 | 215559 |  | 215559 |  | 215559 | 215559 | – | 215559 |
|  PROBIO | 799 | 36716 | 32457 |  | 32457 |  | 32457 | 32457 | – | 32457 |
|  PROBL | 23696 | 1398318 | 1385763 |  | 1385763 |  | 1385763 | 1385763 | – | 1385763 |
|  PROCG | 6858 | 245633 | 218291 |  | 218291 |  | 218291 | 218291 | – | 218291 |
|  PROEM | 1387 | 45812 | 41676 |  | 41676 |  | 41676 | 41676 | – | 41676 |
|  PROFIN | 2640 | 139677 | 140126 |  | 140126 |  | 140126 | 140126 | – | 140126 |
|  PROHC | 1663 | 117919 | 106788 |  | 106788 |  | 106788 | 106788 | – | 106788 |
|  PROIND | 5341 | 489809 | 473208 | 1 | 473209 |  | 473209 | 473209 | – | 473209 |
|  PROJP | 3102 | 225964 | 210842 |  | 210842 |  | 210842 | 210842 | – | 210842 |
|  PROLCG | 541 | 26556 | 36697 |  | 36697 |  | 36697 | 36697 | – | 36697 |
|  PROMC | 701 | 13009 | 12638 |  | 12638 | 1 | 12637 | 12637 | – | 12637 |
|  PROMCG | 1784 | 75122 | 71129 |  | 71129 |  | 71129 | 71129 | – | 71129 |
|  PRON | 5811 | 353422 | 365950 |  | 365950 |  | 365950 | 365950 | – | 365950 |
|  PRONET | 4020 | 92415 | 107223 |  | 107223 |  | 107223 | 107223 | – | 107223 |
|  PROOG | 585 | 25053 | 23935 |  | 23935 |  | 23935 | 23935 | – | 23935 |
|  PROPM | 954 | 23115 | 24968 |  | 24968 |  | 24968 | 24968 | – | 24968 |
|  PRORE | 3038 | 145142 | 142167 |  | 142167 |  | 142167 | 142167 | – | 142167 |
|  PRORRO | 721 | 21624 | 20875 | 1 | 20876 |  | 20876 | 20876 | – | 20876 |
|  PROSC | 4421 | 154310 | 163674 |  | 163674 | 1 | 163673 | 163673 | – | 163673 |
|  PROSCG | 1237 | 39226 | 38087 |  | 38087 |  | 38087 | 38087 | – | 38087 |
|  PROSCN | 16359 | 770998 | 829563 | 1 | 829564 |  | 829564 | 829564 | – | 829564 |
|  PROTEC | 3032 | 230561 | 233891 |  | 233891 |  | 233891 | 233891 | – | 233891 |
|  PROTEL | 51 | 2254 | 2559 |  | 2559 |  | 2559 | 2559 | – | 2559 |
|  PROUB | 5494 | 158322 | 232689 |  | 232689 |  | 232689 | 232689 | – | 232689 |
|  PROUN | 14240 | 625581 | 621282 |  | 621282 |  | 621282 | 621282 | – | 621282 |
|  PVEIB | 137704 | 4233727 | 4464378 |  | 4464378 | 1 | 4464377 | 4464377 | – | 4464377 |
|  PVHYB | 24806 | 140403 | 139907 |  | 139907 |  | 139907 | 139907 | – | 139907 |
|  PVIB | 857 | 8188 | 6869 |  | 6869 |  | 6869 | 6869 | – | 6869 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount\*,\*\*** | **Shares** | **Cost** | **Investments, at<br>fair value** | **Accounts** <br> **Receivable**  | **Total Assets** | **Accounts** <br> **Payable**  | **Contract<br>Owners'<br>Equity** | **Accumulation<br>Units** | **Contracts in<br>Payout** | **Contract<br>Owners'<br>Equity** |
|  PVNOB | 45361 | 2112015 | 2190925 |  | 2190925 |  | 2190925 | 2190925 | – | 2190925 |
|  ROCMC | 20381 | 183686 | 198713 | 1 | 198714 |  | 198714 | 198714 | – | 198714 |
|  ROCSC | 22617 | 211436 | 213050 |  | 213050 | 1 | 213049 | 213049 | – | 213049 |
|  TRBCG2 | 87442 | 3697941 | 4927381 | 1 | 4927382 |  | 4927382 | 4927382 | – | 4927382 |
|  TREI2 | 19374 | 548950 | 546737 |  | 546737 |  | 546737 | 546737 | – | 546737 |
|  TRHS2 | 27022 | 1489442 | 1286797 |  | 1286797 |  | 1286797 | 1286797 | – | 1286797 |
|  TRLT2 | 58370 | 276788 | 272586 |  | 272586 |  | 272586 | 272586 | – | 272586 |
|  TRMCG2 | 2173 | 61776 | 57774 |  | 57774 |  | 57774 | 57774 | – | 57774 |
|  TAVV | 14016 | 327493 | 286770 | 1 | 286771 |  | 286771 | 286771 | – | 286771 |
|  VVGGS | 9250 | 79292 | 86304 |  | 86304 |  | 86304 | 86304 | – | 86304 |
|  VWBF | 5525 | 41196 | 40223 |  | 40223 |  | 40223 | 40223 | – | 40223 |
|  VWEM | 34771 | 322923 | 318854 |  | 318854 |  | 318854 | 318854 | – | 318854 |
|  VWHA | 5670 | 163648 | 142767 | 1 | 142768 |  | 142768 | 142768 | – | 142768 |
|  VVB | 440864 | 10322723 | 10920208 |  | 10920208 |  | 10920208 | 10920208 | – | 10920208 |
|  VVCA | 40507 | 1045511 | 1009834 |  | 1009834 |  | 1009834 | 1009834 | – | 1009834 |
|  VVCG | 43278 | 1934750 | 2204559 |  | 2204559 | 2 | 2204557 | 2204557 | – | 2204557 |
|  VVDV | 188376 | 2889971 | 3136465 |  | 3136465 |  | 3136465 | 3136465 | – | 3136465 |
|  VVEI | 297354 | 7080687 | 7451698 |  | 7451698 |  | 7451698 | 7451698 | – | 7451698 |
|  VVEIX | 208079 | 12247772 | 15010846 |  | 15010846 |  | 15010846 | 15010846 | – | 15010846 |
|  VVG | 225232 | 5589134 | 7576806 |  | 7576806 |  | 7576806 | 7576806 | – | 7576806 |
|  VVGBI | 105203 | 2078296 | 1936791 |  | 1936791 |  | 1936791 | 1936791 | – | 1936791 |
|  VVHGB | 1977890 | 22521969 | 20688730 | 1 | 20688731 |  | 20688731 | 20688731 | – | 20688731 |
|  VVHYB | 447959 | 3140033 | 3314900 |  | 3314900 |  | 3314900 | 3314900 | – | 3314900 |
|  VVI | 346139 | 9828708 | 8861167 | 1 | 8861168 |  | 8861168 | 8861168 | – | 8861168 |
|  VVMA | 86922 | 2382574 | 2672855 | 1 | 2672856 |  | 2672856 | 2672856 | – | 2672856 |
|  VVMCI | 402882 | 10117291 | 10813352 | 1 | 10813353 |  | 10813353 | 10813353 | – | 10813353 |
|  VVREI | 335872 | 4090923 | 3943140 | 1 | 3943141 |  | 3943141 | 3943141 | – | 3943141 |
|  VVSCG | 46210 | 911790 | 901554 |  | 901554 |  | 901554 | 901554 | – | 901554 |
|  VVSTC | 1275349 | 13261585 | 13289135 |  | 13289135 | 1 | 13289134 | 13289134 | – | 13289134 |
|  VVTISI | 527113 | 11512566 | 11269668 |  | 11269668 |  | 11269668 | 11269668 | – | 11269668 |
|  VVTSM | 562837 | 27186694 | 31608915 | 1 | 31608916 |  | 31608916 | 31608916 | – | 31608916 |
|  VRVDIA | 3 | 33 | 32 |  | 32 |  | 32 | 32 | – | 32 |
|  VRVDRA | 28293 | 589566 | 593301 |  | 593301 |  | 593301 | 593301 | – | 593301 |
|  VRVNMA | 104474 | 895488 | 890114 |  | 890114 |  | 890114 | 890114 | – | 890114 |

---

\* Represents abbreviation of investment name. For full investment name and related abbreviation, see note 1(b).

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF ASSETS, LIABILTIES AND CONTRACT OWNERS' EQUITY** 

**DECEMBER 31, 2024** 

\*\* For all subaccounts not included herein but listed as an investment option in note 1(b), Total Assets and Contract Owners' Equity at the end of the period are $0. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2024, if applicable.

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **ABTGB** | **ABTGB** | **ALVGIA** | **ALVIVB** | **ALVSVB** | **APTGBS** | **ALCAI2** | **ALCGI2** | **ALMGI2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— |  | 6870 | 1181 | 373 | 69049 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  |  | 6870 | 1181 | 373 | 69049 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 13 | (5228) | (41) | (2489) | 25916 | 29611 | 12217 | 99605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 1948 | 41330 | 1195 | 4853 | 55621 | 221364 | (659) | (39507) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 1961 | 36102 | 1154 | 2364 | 81537 | 250975 | 11558 | 60098 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 263 | 16319 |  | 2936 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 2224 | 59291 | 2335 | 5673 | 150586 | 250975 | 11558 | 60098 |
| **Investment Activity\*:** | **SVDF** | **SVDF** | **SVOF** | **AAEIP3** | **AAGEA2** | **ABEAA2** | **ACEAA2** | **AGEAA2** | **AUGEA2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— |  | 47 | 4697 | 9452 | 18286 | 16348 | 19279 | 17908 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  |  | 47 | 4697 | 9452 | 18286 | 16348 | 19279 | 17908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 16025 | 53 | 34313 | 7326 | (2597) | 76 | 1163 | (37) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (6640) | 4480 | 6631 | (23729) | 75100 | 9192 | 84842 | 3071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 9385 | 4533 | 40944 | (16403) | 72503 | 9268 | 86005 | 3034 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 9790 | 3776 | 10948 | 9802 |  | 26531 | 5193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 9385 | 14370 | 49417 | 3997 | 100591 | 25616 | 131815 | 26135 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **AMVAA4** | **AMVAA4** | **AMVBC4** | **AMVBD4** | **AMVCB4** | **AMVGB4** | **AMVGG4** | **AMVGI4** | **AMVGR4** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 67308 | 13279 | 77550 | 41417 | 5449 | 5469 | 16311 | 3041 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 67308 | 13279 | 77550 | 41417 | 5449 | 5469 | 16311 | 3041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 21998 | 9733 | (35521) | 3841 | (1259) | (3944) | 7386 | (56920) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 151801 | 107787 | (40449) | 37594 | (12725) | 18525 | 241293 | 478898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 173799 | 117520 | (75970) | 41435 | (13984) | 14581 | 248679 | 421978 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 87536 | 6597 |  |  |  | 11217 | 69327 | 41717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 328643 | 137396 | 1580 | 82852 | (8535) | 31267 | 334317 | 466736 |
| **Investment Activity\*:** | **AMVGS4** | **AMVGS4** | **AMVGW4** | **AMVHI4** | **AMVI4** | **AMVIG4** | **AMVM4** | **AMVNW4** | **AMVUA4** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 1827 | 4760 | 94442 | 4187 | 20657 | 3014 | 37168 | 27612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 1827 | 4760 | 94442 | 4187 | 20657 | 3014 | 37168 | 27612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (56005) | 4084 | 77330 | (47870) | (7510) | (6612) | (120948) | (8858) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 47311 | 18203 | (18323) | 62594 | 3436 | (297) | 221953 | (21415) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (8694) | 22287 | 59007 | 14724 | (4074) | (6909) | 101005 | (30273) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 7906 |  |  |  |  |  | 11870 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 1039 | 27047 | 153449 | 18911 | 16583 | (3895) | 150043 | (2661) |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **AVPAP2** | **AVPAP2** | **AVRBP2** | **PIHYB2** | **PIVB2** | **PIVEI2** | **PIVF2** | **PIVMV2** | **PIVSI2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 6738 | 3139 | 35568 | 12122 | 479 | 2036 | 1783 | 22563 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 6738 | 3139 | 35568 | 12122 | 479 | 2036 | 1783 | 22563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 493 | (130) | 23660 | (39827) | 1821 | 15757 | (90) | (24292) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 35467 | 21406 | 4116 | 34903 | (4406) | 45621 | 2859 | 23830 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 35960 | 21276 | 27776 | (4924) | (2585) | 61378 | 2769 | (462) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 4813 |  |  |  | 4602 | 18847 | 6226 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 47511 | 24415 | 63344 | 7198 | 2496 | 82261 | 10778 | 22101 |
| **Investment Activity\*:** | **BRVED3** | **BRVED3** | **BRVHY3** | **BRVTR3** | **BVLCC3** | **BVLCV3** | **BVLFG3** | **MLVGA3** | **DSIF** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 3862 | 43369 | 26209 | 869 | 83 |  | 17793 | 8251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  | (1757) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 3862 | 43369 | 26209 | 869 | 83 |  | 17793 | 6494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (2727) | 1611 | (4945) | 1259 | 3 | 237656 | (11164) | 95165 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 3628 | 2576 | (13396) | 12348 | (99) | (61254) | (2134) | 5263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 901 | 4187 | (18341) | 13607 | (96) | 176402 | (13298) | 100428 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 12207 |  |  | 20368 | 868 | 62037 | 96268 | 43825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 16970 | 47556 | 7868 | 34844 | 855 | 238439 | 100763 | 150747 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **DSRG** | **DSRG** | **DVSCS** | **CVN1IF** | **CVSBF** | **CLVGT2** | **CLVLV1** | **CLVSI2** | **CLVSV1** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 965 | 15336 |  | 14026 |  |  | 18742 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 965 | 15336 |  | 14026 |  |  | 18742 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 845 | 11756 | 1495 | 2092 | (89604) | 4097 | (18452) | 58220 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 51817 | 114232 | (3784) | 91308 | 471416 | 32953 | 21325 | (17989) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 52662 | 125988 | (2289) | 93400 | 381812 | 37050 | 2873 | 40231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 1149 | 30044 |  | 14451 | 145713 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 54776 | 171368 | (2289) | 121877 | 527525 | 37050 | 21615 | 40231 |
| **Investment Activity\*:** | **CSCRS** | **CSCRS** | **DWVSVS** | **DFVEA** | **DFVGB** | **DFVGMI** | **DFVIS** | **DFVIV** | **DFVSTF** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 1647 | 2392 | 189239 | 174988 | 136454 | 79213 | 168909 | 235396 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  | (22763) | (7274) | (13370) | (5701) | (9823) | (10539) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 1647 | 2392 | 166476 | 167714 | 123084 | 73512 | 159086 | 224857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (122) | (7591) | 556565 | (11083) | 307918 | 40349 | 121174 | 2036 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 1133 | 10962 | 303754 | (13038) | 142635 | (98576) | (137076) | (15275) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 1011 | 3371 | 860319 | (24121) | 450553 | (58227) | (15902) | (13239) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 8984 | 119629 |  | 29139 | 61949 | 87174 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 2658 | 14747 | 1146424 | 143593 | 602776 | 77234 | 230358 | 211618 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **DFVULV** | **DFVULV** | **DFVUTV** | **ETVFR** | **FHIB** | **FVK2S** | **FVU2** | **FB2** | **FC2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 105065 | 79154 | 158272 | 40431 | 4303 | 26470 | 22908 | 901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  | (11780) | (13423) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 93285 | 65731 | 158272 | 40431 | 4303 | 26470 | 22908 | 901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 227123 | 170783 | 5763 | 7476 | (420) | (3641) | 7993 | 60773 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (303465) | (218191) | (15529) | (23718) | 79455 | 120513 | 103308 | 324806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (76342) | (47408) | (9766) | (16242) | 79035 | 116872 | 111301 | 385579 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 529357 | 385587 |  |  | 20067 |  | 35166 | 451613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 546300 | 403910 | 148506 | 24189 | 103405 | 143342 | 169375 | 838093 |
| **Investment Activity\*:** | **FDSCS2** | **FDSCS2** | **FEI2** | **FEMS2** | **FG2** | **FGI2** | **FGO2** | **FHI2** | **FIGBP2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 6097 | 8281 | 228 |  | 4275 |  | 5299 | 126585 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 6097 | 8281 | 228 |  | 4275 |  | 5299 | 126585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (1697) | 70573 | (1) | 135057 | 7568 | 458859 | 1369 | (62498) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 83556 | 43593 | (457) | (155400) | 482 | 145094 | 79 | (6202) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 81859 | 114166 | (458) | (20343) | 8050 | 603953 | 1448 | (68700) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 4578 | 35932 |  | 552110 | 22441 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 92534 | 158379 | (230) | 531767 | 34766 | 603953 | 6747 | 57885 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **FMC2** | **FMC2** | **FNRS2** | **FO2** | **FRESS2** | **FV2** | **FVFI2** | **FVFRHI** | **FVICA2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 2513 | 5953 | 5477 | 7875 | 11052 | 5203 | 71732 | 9427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 2513 | 5953 | 5477 | 7875 | 11052 | 5203 | 71732 | 9427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1755 | 17945 | 6413 | (3685) | 19314 | (3232) | (2150) | (7030) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (29004) | (3608) | (42492) | 7593 | (30380) | 5558 | (5131) | 73459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (27249) | 14337 | (36079) | 3908 | (11066) | 2326 | (7281) | 66429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 90501 |  | 19688 |  | 96847 | 90 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 65765 | 20290 | (10914) | 11783 | 96833 | 7619 | 64451 | 75856 |
| **Investment Activity\*:** | **FVSIS2** | **FVSIS2** | **FVSS2** | **FEOVF** | **FTVGI2** | **FTVGR2** | **FTVIS2** | **FTVMS2** | **FTVRD2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 74599 | 5485 | 16860 |  | 865 | 19080 | 288 | 6195 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 74599 | 5485 | 16860 |  | 865 | 19080 | 288 | 6195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (20825) | 6228 | 2105 | (15870) | (47415) | (657) | (27) | 332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 51829 | (59526) | (38886) | 5457 | 40970 | 7338 | 942 | 27503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 31004 | (53298) | (36781) | (10413) | (6445) | 6681 | 915 | 27835 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 89862 | 6665 |  |  | 1563 | 299 | 29474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 105603 | 42049 | (13256) | (10413) | (5580) | 27324 | 1502 | 63504 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **FTVSI2** | **FTVSI2** | **FTVUG2** | **GVMSA** | **GVFRB** | **GVR2XS** | **GVTRBE** | **RBF** | **RBKF** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 12456 | 949 | 9846 | 180691 | 286 | 99871 |  | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 12456 | 949 | 9846 | 180691 | 286 | 99871 |  | 139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (5888) | (1431) | (356) | 39917 | 26553 | (45789) | 24 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 2850 | (609) | (2203) | (55854) | (19876) | 27352 | (1688) | (1504) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (3038) | (2040) | (2559) | (15937) | 6677 | (18437) | (1664) | (1502) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  | 430 |  | 2146 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 9418 | (1091) | 7287 | 164754 | 7393 | 81434 | 482 | (1363) |
| **Investment Activity\*:** | **RELF** | **RELF** | **RENF** | **RESF** | **RFSF** | **RHCF** | **RHYS** | **RINF** | **RJNF** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— |  |  |  | 863 |  | 6151 |  | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  |  |  |  | 863 |  | 6151 |  | 306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 134118 | 1784 | 1834 | 18404 | 907 | (246) | 2830 | (235) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (51247) |  | (1127) | 1101 | (1372) | 471 | (1004) | 1260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 82871 | 1784 | 707 | 19505 | (465) | 225 | 1826 | 1025 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 11310 |  |  | 380 | 721 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 94181 | 1784 | 707 | 20748 | 256 | 6376 | 1826 | 1331 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **RLCE** | **RLCE** | **RLCJ** | **RLF** | **RMED** | **RMEK** | **RNF** | **ROF** | **RPMF** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— |  | 983 | 6 | 1223 |  |  | 2917 | 792 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  |  | 983 | 6 | 1223 |  |  | 2917 | 792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 6133 | (2198) | 1486 | (3652) | (705) | 4 | 175024 | (20320) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (5996) |  | (1805) | 28408 |  | (1) | 99017 | 17610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 137 | (2198) | (319) | 24756 | (705) | 3 | 274041 | (2710) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  | 27001 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 137 | (1215) | (313) | 25979 | (705) | 3 | 303959 | (1918) |
| **Investment Activity\*:** | **RREF** | **RREF** | **RRF** | **RTEC** | **RTEL** | **RTRF** | **RUGB** | **RUTL** | **RVARS** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 612 |  |  |  | 12 | 188 | 728 | 2126 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 612 |  |  |  | 12 | 188 | 728 | 2126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (33) | 2020 | 28546 | 1006 | 8 | (382) | (436) | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 1708 |  | 305 |  | 64 | (21) | (244) | (3726) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 1675 | 2020 | 28851 | 1006 | 72 | (403) | (680) | (3717) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 11862 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 2287 | 2020 | 40713 | 1006 | 84 | (215) | 48 | (1591) |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **RVCMD** | **RVCMD** | **RVF** | **RVLCG** | **RVLCV** | **RVLDD** | **RVMCG** | **RVMCV** | **RVMFU** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 725 |  | 97 | 4432 |  |  | 22 | 1979 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 725 |  | 97 | 4432 |  |  | 22 | 1979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (11136) | 165298 | 261 | 983 | 10419 | 2634 | 5723 | 1426 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 20772 | (53664) | 34727 | 28107 | (8177) | (27669) | (3545) | (3465) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 9636 | 111634 | 34988 | 29090 | 2242 | (25035) | 2178 | (2039) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 676 |  |  | 2 | 1384 | 1058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 10361 | 111634 | 35761 | 33522 | 2242 | (25033) | 3584 | 998 |
| **Investment Activity\*:** | **RVSCG** | **RVSCG** | **RVSCV** | **RVSDL** | **RVWDL** | **SBLP** | **ACC1** | **AVHY1** | **AVIE** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— |  |  |  |  |  | 16164 | 2113 | 2129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  |  |  |  |  |  | 16164 | 2113 | 2129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 343 | 1 | 34 | (481) | 6228 | 1949 | (946) | (165) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 2573 | 1436 | 492 |  |  | 42615 | (627) | (1490) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 2916 | 1437 | 526 | (481) | 6228 | 44564 | (1573) | (1655) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  | 65350 |  | 633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 2916 | 1437 | 526 | (481) | 6228 | 126078 | 540 | 1107 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **IVBRA2** | **IVBRA2** | **IVCPB2** | **IVCPBI** | **IVDDI** | **IVGMMI** | **IVGS1** | **IVHS** | **IVKEI1** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 57717 | 233 | 96012 | 7587 | 469970 | 4032 |  | 19590 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 57717 | 233 | 96012 | 7587 | 469970 | 4032 |  | 19590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (22670) | 2330 | (58402) | (14589) |  | (23) | 2601 | (6565) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 12 | 2107 | 24984 | 41513 |  | (1337) | (14784) | 73055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (22658) | 4437 | (33418) | 26924 |  | (1360) | (12183) | 66490 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  | 16148 |  |  |  | 42041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 35059 | 4670 | 62594 | 50659 | 469970 | 2672 | (12183) | 128121 |
| **Investment Activity\*:** | **IVMCC2** | **IVMCC2** | **IVRE** | **IVT** | **OVGIS** | **OVGSS** | **OVIGS** | **WRASP** | **WRBDP** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 125 | 3262 |  |  |  | 387 | 6039 | 68788 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 125 | 3262 |  |  |  | 387 | 6039 | 68788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (974) | (4564) | 183760 | 21 | 1124 | (4960) | 3520 | (22129) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 15060 | (2029) | 47780 | 1279 | 4048 | (3072) | 2095 | 12796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 14086 | (6593) | 231540 | 1300 | 5172 | (8032) | 5615 | (9333) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 2501 |  | 44807 | 1340 | 3175 | 6883 | 12089 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 16712 | (3331) | 276347 | 2640 | 8347 | (762) | 23743 | 59455 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **WRBP** | **WRBP** | **WRENG** | **WRGNR** | **WRHIP** | **WRLTBP** | **WRMCG** | **WRSTP** | **WRVP** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 461 |  | 6095 | 1632 | 20230 |  |  | 129 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 461 |  | 6095 | 1632 | 20230 |  |  | 129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (327) | 380 | (22526) | 16860 | 2973 | (77025) | 1046 | (799) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 4923 | 520 | (1573) | (1839) | (4221) | 68061 | 24519 | 409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 4596 | 900 | (24099) | 15021 | (1248) | (8964) | 25565 | (390) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  | 22377 | 4812 | 902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 5057 | 900 | (18004) | 16653 | 18982 | 13413 | 30377 | 641 |
| **Investment Activity\*:** | **JABIN** | **JABIN** | **JAEI** | **JAFBS** | **JAFRIN** | **JAGRIN** | **JAGSEI** | **JAIG** | **JARIN** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 69793 | 10470 | 5547 | 1775 | 4129 | 3 | 13840 | 142 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 69793 | 10470 | 5547 | 1775 | 4129 | 3 | 13840 | 142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 97720 | 52284 | (90) | (7531) | 21605 | 1 | 12245 | 18688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 285019 | 64368 | (3205) | 314318 | 35204 | 153 | (14658) | 77442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 382739 | 116652 | (3295) | 306787 | 56809 | 154 | (2413) | 96130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 54431 |  | 92644 | 18417 | 10 |  | 13501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 452532 | 181553 | 2252 | 401206 | 79355 | 167 | 11427 | 109773 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **JMCVIN** | **JMCVIN** | **JHEVTN** | **LZREMS** | **LZRIES** | **LZRUSM** | **LPVCAI** | **LPVCII** | **LVCLGI** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 5155 | 55135 | 3685 | 3487 |  | 27 | 8105 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  | (1206) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 5155 | 53929 | 3685 | 3487 |  | 27 | 8105 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 5721 | 28939 | 1306 | 17740 | (7182) | (74) | (13716) | 292050 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 16680 | (116624) | 4678 | (1951) | 16729 | (3995) | 29411 | (70791) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 22401 | (87685) | 5984 | 15789 | 9547 | (4069) | 15695 | 221259 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 23277 |  |  | 282 | 3166 | 7085 | 67558 | 52715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 50833 | (33756) | 9669 | 19558 | 12713 | 3043 | 91358 | 273974 |
| **Investment Activity\*:** | **SBVHY** | **SBVHY** | **SBVSG2** | **LACB2** | **LACDV2** | **LACI2** | **LACIPS** | **LACLV2** | **LACU2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 5314 |  | 14517 | 286 | 3602 | 6379 | 383 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 5314 |  | 14517 | 286 | 3602 | 6379 | 383 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 4 | (270384) | 4161 | 273 | 125 | 4820 | 2017 | 516 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 206 | 261733 | 63832 | (61912) | (2387) | (449) | 649 | 99506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 210 | (8651) | 67993 | (61639) | (2262) | 4371 | 2666 | 100022 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 42247 |  |  |  |  | 145 | 8503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 5524 | 33596 | 82510 | (61353) | 1340 | 10750 | 3194 | 108525 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **LACV2** | **LACV2** | **LOVBD** | **LOVCDG** | **MEGSS** | **MNDSC** | **MVFSC** | **MVIGSC** | **MGRFV** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 96 | 22458 | 3325 |  |  | 3479 | 2713 | 7989 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 96 | 22458 | 3325 |  |  | 3479 | 2713 | 7989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (1) | 35327 | 1877 | 32104 | (78836) | (1555) | 11451 | (5328) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 170 | (30227) | 71903 | 46154 | 90750 | 5461 | 7828 | 8965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 169 | 5100 | 73780 | 78258 | 11914 | 3906 | 19279 | 3637 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 39 |  | 34006 | 36666 |  | 18483 | 1065 | 5276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 304 | 27558 | 111111 | 114924 | 11914 | 25868 | 23057 | 16902 |
| **Investment Activity\*:** | **DTRTFY** | **DTRTFY** | **GEM2** | **GIG** | **GVEXD** | **GVIXY** | **MCIFD** | **MSBF** | **NVAMVX** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 122320 | 389 | 6456 | 146906 | 79343 | 28344 | 12428 | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 122320 | 389 | 6456 | 146906 | 79343 | 28344 | 12428 | 536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (11419) | 4771 | 936 | 384688 | (793) | (91248) | (26) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (67096) | 3276 | (2758) | 2017304 | (35240) | 194344 | (6467) | 1365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (78515) | 8047 | (1822) | 2401992 | (36033) | 103096 | (6493) | 1371 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  | 9064 |  | 108965 |  | 1969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 43805 | 8436 | 4634 | 2557962 | 43310 | 240405 | 5935 | 3876 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **NVBXD** | **NVBXD** | **NVFIY** | **NVGEY** | **NVLCPY** | **NVMIVX** | **NVMLG1** | **NVMMV1** | **NVNSR1** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 30808 | 1326 | 2804 | 19419 | 7020 | 1846 | 1286 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 30808 | 1326 | 2804 | 19419 | 7020 | 1846 | 1286 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (21132) | (32) | 320 | 4508 | 2734 | 21583 | (6688) | (2157) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 99 | (932) | 11034 | (22612) | (3985) | (1850) | 14419 | 2002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (21033) | (964) | 11354 | (18104) | (1251) | 19733 | 7731 | (155) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  | 17735 | 1989 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 9775 | 362 | 14158 | 1315 | 5769 | 39314 | 11006 | (155) |
| **Investment Activity\*:** | **NVSIXD** | **NVSIXD** | **SAMY** | **TRF** | **AMCG** | **AMRI** | **AMTB** | **NALG** | **NAMG** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 49737 | 620618 | 3035 |  | 44 | 23678 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 49737 | 620618 | 3035 |  | 44 | 23678 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (197902) |  | 4522 | 46303 | (40) | 1877 |  | 1633 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 451873 |  | 24270 | 8624 | 302 | (2139) | 6140 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 253971 |  | 28792 | 54927 | 262 | (262) | 6140 | 1642 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 41545 |  | 10100 | 21620 | 198 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 345253 | 620618 | 41927 | 76547 | 504 | 23416 | 6140 | 1642 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **NASCV** | **NASCV** | **NOTB2** | **NOTBBA** | **NOTC2** | **NOVPDI** | **NOVPM** | **MNCPS** | **PMUBAM** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— |  |  | 372 | 2713 | 124 |  | 9656 | 3753 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  |  |  | 372 | 2713 | 124 |  | 9656 | 3753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 10 | (52381) | (2383) | 13 | (11) |  | 15178 | 9942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 3803 | 51151 | 2333 | 2942 | 822 | 1687 | (8061) | (10906) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 3813 | (1230) | (50) | 2955 | 811 | 1687 | 7117 | (964) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  | 815 |  |  | 4376 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 3813 | (1230) | 322 | 6483 | 935 | 1687 | 21149 | 2789 |
| **Investment Activity\*:** | **PMVAAA** | **PMVAAA** | **PMVEBA** | **PMVFBA** | **PMVFHA** | **PMVGBA** | **PMVHYA** | **PMVID** | **PMVLDA** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 6185 | 14812 | 1651 | 13582 | 17825 | 53555 | 447570 | 79869 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 6185 | 14812 | 1651 | 13582 | 17825 | 53555 | 447570 | 79869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (7592) | 5677 | (6167) | (15211) | (5179) | 25930 | (82230) | (3840) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 5021 | (26105) | 1659 | 19854 | (15977) | (12534) | 40557 | 12825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (2571) | (20428) | (4508) | 4643 | (21156) | 13396 | (41673) | 8985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 3614 | (5616) | (2857) | 18225 | (3331) | 66951 | 405897 | 88854 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **PMVLGA** | **PMVLGA** | **PMVRRA** | **PMVRSA** | **PMVTRA** | **PVGCBA** | **PVGMAA** | **PVSTA** | **PROA30** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 21888 | 24536 | 2275 | 166113 | 4465 | 5983 | 100728 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 21888 | 24536 | 2275 | 166113 | 4465 | 5983 | 100728 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (4124) | (194238) | (6090) | (117621) | 177 | (4948) | 13217 | 2985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (149646) | 186946 | 7337 | 33162 | 1236 | 15947 | 3868 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (153770) | (7292) | 1247 | (84459) | 1413 | 10999 | 17085 | 2985 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | (131882) | 17244 | 3522 | 81654 | 5878 | 16982 | 117813 | 2985 |
| **Investment Activity\*:** | **PROAHY** | **PROAHY** | **PROBIO** | **PROBL** | **PROBM** | **PROBNK** | **PROCG** | **PROCS** | **PROEM** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 11230 |  | 11472 |  |  | 2095 |  | 561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 11230 |  | 11472 |  |  | 2095 |  | 561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 238 | (11593) | 90812 | 470 | 21632 | 20805 | 3183 | (7580) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 1472 | (8951) | (3953) | (558) |  | (43934) | (8307) | (4547) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 1710 | (20544) | 86859 | (88) | 21632 | (23129) | (5124) | (12127) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 17814 | 76660 |  |  | 45070 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 12940 | (2730) | 174991 | (88) | 21632 | 24036 | (5124) | (11566) |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **PROFIN** | **PROFIN** | **PROGVP** | **PROHC** | **PROIND** | **PROINT** | **PROJP** | **PROLCG** | **PROLCV** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 38 | 486 | 90 | 681 | 5130 | 9006 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 38 | 486 | 90 | 681 | 5130 | 9006 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 25695 | (4426) | (2482) | 47666 | 5167 | (10756) | 389 | 3599 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (7686) |  | (5478) | (31189) |  | (17593) | 12025 | (4967) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 18009 | (4426) | (7960) | 16477 | 5167 | (28349) | 12414 | (1368) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 1275 |  | 6487 | 48463 |  | 45970 | 611 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 19322 | (3940) | (1383) | 65621 | 10297 | 26627 | 13025 | (1368) |
| **Investment Activity\*:** | **PROMC** | **PROMC** | **PROMCG** | **PROMCV** | **PRON** | **PRONET** | **PROOG** | **PROPM** | **PRORE** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 343 |  | 19 | 1287 |  | 525 | 867 | 332 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 343 |  | 19 | 1287 |  | 525 | 867 | 332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 13242 | 1632 | 1224 | 576 | 20478 | 4331 | 237 | 266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (7675) | 4133 | (365) | 1399 | 4568 | 1620 | 658 | (2975) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 5567 | 5765 | 859 | 1975 | 25046 | 5951 | 895 | (2709) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 2818 | 328 | 37986 | 1827 | 1143 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 5910 | 8583 | 1206 | 41248 | 26873 | 7619 | 1762 | (2377) |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **PRORRO** | **PRORRO** | **PROSC** | **PROSCG** | **PROSCN** | **PROSCV** | **PROSEM** | **PROTEC** | **PROTEL** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 865 | 2070 |  |  |  | 2495 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 865 | 2070 |  |  |  | 2495 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (9715) | 255 | (681) | 241902 | (939) | (2491) | 16490 | 1412 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 1169 | 11998 | (2100) | (1706) | 885 |  | (1388) | 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (8546) | 12253 | (2781) | 240196 | (54) | (2491) | 15102 | 1717 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 9650 |  | 499 | 38567 |  |  | 17517 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 1969 | 14323 | (2282) | 278763 | (54) | 4 | 32619 | 1717 |
| **Investment Activity\*:** | **PROUB** | **PROUB** | **PROUN** | **PROUSC** | **PROUSN** | **PROUTL** | **PVEIB** | **PVHYB** | **PVIB** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 1410 | 2056 |  |  |  | 15833 | 7684 | 369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 1410 | 2056 |  |  |  | 15833 | 7684 | 369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (1612) | 192100 | 1448 | 3179 | (425) | 65215 | 12955 | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 66484 | (33439) |  |  |  | 142322 | (754) | (192) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 64872 | 158661 | 1448 | 3179 | (425) | 207537 | 12201 | (212) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  | 64443 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 66282 | 160717 | 1448 | 3179 | (425) | 287813 | 19885 | 157 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **PVNOB** | **PVNOB** | **ROCMC** | **ROCSC** | **TRBCG2** | **TREI2** | **TRHS2** | **TRLT2** | **TRMCG2** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 202 |  | 2569 |  | 8862 |  | 11850 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 202 |  | 2569 |  | 8862 |  | 11850 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 4265 | 13888 | 4255 | 131180 | (630) | (42250) | (5901) | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 64701 | (6284) | (13117) | 1057153 | 9436 | (124731) | 8429 | (4326) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 68966 | 7604 | (8862) | 1188333 | 8806 | (166981) | 2528 | (4270) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 654 | 13315 | 8685 | 210292 | 35752 | 120439 |  | 5637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 69822 | 20919 | 2392 | 1398625 | 53420 | (46542) | 14378 | 1367 |
| **Investment Activity\*:** | **TAVV** | **TAVV** | **VVGGS** | **VWBF** | **VWEM** | **VWHA** | **VVB** | **VVCA** | **VVCG** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 7776 | 2538 | 2904 | 5488 | 3988 | 189980 | 26672 | 26151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |  |  |  | (23215) | (2473) | (6276) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 7776 | 2538 | 2904 | 5488 | 3988 | 166765 | 24199 | 19875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 5134 | (10065) | 553 | (90375) | (21660) | 91705 | (3576) | 54938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (48044) | 6445 | (2875) | 93032 | 18783 | 538907 | 25152 | 171749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | (42910) | (3620) | (2322) | 2657 | (2877) | 630612 | 21576 | 226687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 23778 |  |  |  |  | 410891 | 22607 | 47800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | (11356) | (1082) | 582 | 8145 | 1111 | 1208268 | 68382 | 294362 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investment Activity\*:** | **VVDV** | **VVDV** | **VVEI** | **VVEIX** | **VVG** | **VVGBI** | **VVHGB** | **VVHYB** | **VVI** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 46452 | 170748 | 150948 | 21621 | 43037 | 491690 | 170848 | 103627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  | (7354) | (16388) | (31490) | (18048) | (4346) | (46995) | (8045) | (21449) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 39098 | 154360 | 119458 | 3573 | 38691 | 444695 | 162803 | 82178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 127544 | 122476 | 720405 | (550163) | (11892) | (291890) | 35948 | (275332) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 50995 | 211214 | 1353443 | 2539637 | 6808 | 12560 | (7787) | 615826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 178539 | 333690 | 2073848 | 1989474 | (5084) | (279330) | 28161 | 340494 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 167899 | 359947 | 431550 |  | 1602 |  |  | 274315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 385536 | 847997 | 2624856 | 1993047 | 35209 | 165365 | 190964 | 696987 |
| **Investment Activity\*:** | **VVMA** | **VVMA** | **VVMCI** | **VVREI** | **VVSCG** | **VVSTC** | **VVTISI** | **VVTSM** | **VRVDIA** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 56824 | 93755 | 85306 | 3462 | 435200 | 220018 | 262124 | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  | (6333) | (20340) | (8223) | (1792) | (31459) | (23685) | (67005) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 50491 | 73415 | 77083 | 1670 | 403741 | 196333 | 195119 | 115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1477 | 100986 | 3735 | (9216) | (116914) | 12583 | 972231 | 4043 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 139296 | 810186 | 33185 | 83116 | 282730 | 33483 | 2878677 | (4960) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 140773 | 911172 | 36920 | 73900 | 165816 | 46066 | 3850908 | (917) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 46204 | 78137 | 71965 |  |  | 37344 | 1437062 | 99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 237468 | 1062724 | 185968 | 75570 | 569557 | 279743 | 5483089 | (703) |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF OPERATIONS** 

**YEAR ENDED DECEMBER 31, 2024** 

---

| | | | |
|:---|:---|:---|:---|
| **Investment Activity\*:** | **VRVDRA** | **VRVDRA** | **VRVNMA** |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested dividends | $— | 10079 | 31161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk charges (note 2) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) |  | 10079 | 31161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (7176) | (2770) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 50090 | 3724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on investments |  | 42914 | 954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 6301 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations | $— | 59294 | 32115 |

---

\* For all subaccounts not included herein but listed as an investment option in note 1(b), there was no activity during the period. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2024, if applicable.

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **ABTGB** | **ABTGB** | **ABTGB** | **ALVGIA** | **ALVGIA** | **ALVIVB** | **ALVIVB** | **ALVSVB** | **ALVSVB** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  | 30 | 6870 | 5789 | 1181 | 329 | 373 | 813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 13 | 1508 | (5228) | (3871) | (41) | (109) | (2489) | (2074) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 1948 | (3187) | 41330 | 13568 | 1195 | 6091 | 4853 | 13342 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 263 | 6439 | 16319 | 30442 |  |  | 2936 | 8547 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 2224 | 4790 | 59291 | 45928 | 2335 | 6311 | 5673 | 20628 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 37076 |  | 1 | (1) |  |  | (2) | 26890 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 13665 | (17) | 41585 | 51762 |  |  |  | (3860) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (638) | (482) | (12169) | (9705) | (965) | (725) | (38477) | (46702) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) |  | (1) | (1) |  |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 50102 | (499) | 29416 | 42055 | (965) | (725) | (38479) | (23673) |
| **Net change in contract owners' equity** |  | 52326 | 4291 | 88707 | 87983 | 1370 | 5586 | (32806) | (3045) |
| **Contract owners' equity at beginning of period** |  | 33297 | 29006 | 389161 | 301178 | 48449 | 42863 | 90953 | 93998 |
| **Contract owners' equity at end of period** | $— | 85623 | 33297 | 477868 | 389161 | 49819 | 48449 | 58147 | 90953 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Beginning units |  | 1225 | 1235 | 9950 | 8627 | 5270 | 5354 | 2439 | 2946 |
| &nbsp;&nbsp;&nbsp;&nbsp; Units purchased |  | 1770 | 2810 | 1868 | 4198 |  | 16 | 536 | 1110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Units redeemed |  | (22) | (2820) | (1007) | (2875) | (100) | (100) | (1554) | (1617) |
| &nbsp;&nbsp;&nbsp;&nbsp; Ending units |  | 2973 | 1225 | 10811 | 9950 | 5170 | 5270 | 1421 | 2439 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **APTGBS** | **APTGBS** | **APTGBS** | **ALCAI2** | **ALCAI2** | **ALCGI2** | **ALCGI2** | **ALMGI2** | **ALMGI2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 69049 | 1068 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 25916 | 8127 | 29611 | (3398) | 12217 | 1193 | 99605 | (47569) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 55621 | 24339 | 221364 | 92063 | (659) | 5507 | (39507) | 122836 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 150586 | 33534 | 250975 | 88665 | 11558 | 6700 | 60098 | 75267 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 2539 | 48849 |  | 310 |  |  | 3788 | 42541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 416678 | 326523 | 777847 | (3183) | (6620) | 21171 | (370611) | 102117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (113894) | (36925) | (12488) | (8800) | (1884) | (238) | (4794) | (3677) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  | 1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 305323 | 338447 | 765359 | (11672) | (8504) | 20933 | (371617) | 140981 |
| **Net change in contract owners' equity** |  | 455909 | 371981 | 1016334 | 76993 | 3054 | 27633 | (311519) | 216248 |
| **Contract owners' equity at beginning of period** |  | 609805 | 237824 | 286895 | 209902 | 27633 |  | 492625 | 276377 |
| **Contract owners' equity at end of period** | $— | 1065714 | 609805 | 1303229 | 286895 | 30687 | 27633 | 181106 | 492625 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 48819 | 21040 | 3043 | 3186 | 489 |  | 11537 | 7973 |
| Units purchased |  | 43240 | 61486 | 9554 | 6 | 2374 | 632 | 2603 | 9886 |
| Units redeemed |  | (23442) | (33707) | (3266) | (149) | (2483) | (143) | (10637) | (6322) |
| Ending units |  | 68617 | 48819 | 9331 | 3043 | 380 | 489 | 3503 | 11537 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **SVDF** | **SVDF** | **SVDF** | **SVOF** | **SVOF** | **AAEIP3** | **AAEIP3** | **AAGEA2** | **AAGEA2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  | 47 |  | 4697 | 3458 | 9452 | 987 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 16025 | (58922) | 53 |  | 34313 | 565 | 7326 | 469 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (6640) | 84241 | 4480 |  | 6631 | 12421 | (23729) | 4275 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 9790 |  | 3776 | 1239 | 10948 | 1231 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 9385 | 25319 | 14370 |  | 49417 | 17683 | 3997 | 6962 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | (1) | 1 |  |  | 598 | 1442 | 703266 | 47369 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (116538) | 2092 | 90000 |  | (14291) | (176038) | (6785) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1637) | (43485) | (995) |  | (769) | (7473) | (6731) | (4890) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 2 | (1) |  |  |  | (1) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (118174) | (41393) | 89005 |  | (14462) | (182070) | 689749 | 42478 |
| **Net change in contract owners' equity** |  | (108789) | (16074) | 103375 |  | 34955 | (164387) | 693746 | 49440 |
| **Contract owners' equity at beginning of period** |  | 108789 | 124863 |  |  | 117231 | 281618 | 63171 | 13731 |
| **Contract owners' equity at end of period** | $— |  | 108789 | 103375 |  | 152186 | 117231 | 756917 | 63171 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1703 | 2348 |  |  | 8381 | 22934 | 2569 | 653 |
| Units purchased |  |  | 132 | 1589 |  | 14302 | 547 | 27127 | 2134 |
| Units redeemed |  | (1703) | (777) | (17) |  | (14944) | (15100) | (2832) | (218) |
| Ending units |  |  | 1703 | 1572 |  | 7739 | 8381 | 26864 | 2569 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **ABEAA2** | **ABEAA2** | **ABEAA2** | **ACEAA2** | **ACEAA2** | **AGEAA2** | **AGEAA2** | **AUGEA2** | **AUGEA2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 18286 | 19051 | 16348 | 5398 | 19279 | 15893 | 17908 | 3416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (2597) | (1799) | 76 | (4213) | 1163 | 25 | (37) | (180) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 75100 | 57298 | 9192 | 8653 | 84842 | 61974 | 3071 | 11290 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 9802 | 22175 |  | 2724 | 26531 | 20575 | 5193 | 1589 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 100591 | 96725 | 25616 | 12562 | 131815 | 98467 | 26135 | 16115 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 283787 |  | 200000 | 158136 | 478923 | 19490 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 41435 | (1474) | 450597 | (34805) | 115367 | 52868 | 605231 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (94581) | (12133) | (1677) | (350) | (10427) | (5304) | (4172) | (1829) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  |  |  | (1) | 1 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (53146) | 270180 | 448920 | 164845 | 263076 | 526486 | 620550 | (1830) |
| **Net change in contract owners' equity** |  | 47445 | 366905 | 474536 | 177407 | 394891 | 624953 | 646685 | 14285 |
| **Contract owners' equity at beginning of period** |  | 1003967 | 637062 | 239583 | 62176 | 929064 | 304111 | 167439 | 153154 |
| **Contract owners' equity at end of period** | $— | 1051412 | 1003967 | 714119 | 239583 | 1323955 | 929064 | 814124 | 167439 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 48826 | 34954 | 16028 | 4486 | 40257 | 15189 | 9479 | 9589 |
| Units purchased |  | 1899 | 14577 | 29454 | 14070 | 11136 | 25406 | 35064 |  |
| Units redeemed |  | (4312) | (705) | (109) | (2528) | (477) | (338) | (1856) | (110) |
| Ending units |  | 46413 | 48826 | 45373 | 16028 | 50916 | 40257 | 42687 | 9479 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **AMVAA4** | **AMVAA4** | **AMVAA4** | **AMVBC4** | **AMVBC4** | **AMVBD4** | **AMVBD4** | **AMVCB4** | **AMVCB4** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 67308 | 27675 | 13279 | 10409 | 77550 | 43391 | 41417 | 18161 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 21998 | (3307) | 9733 | 1331 | (35521) | (57442) | 3841 | 544 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 151801 | 105731 | 107787 | 75472 | (40449) | 74846 | 37594 | 46854 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 87536 | 53154 | 6597 | 4628 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 328643 | 183253 | 137396 | 91840 | 1580 | 60795 | 82852 | 65559 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 414469 | 18025 | 77300 | 42316 | 144987 | 92024 | 19367 | 322447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 1833049 | (50037) | 118732 | 108891 | 547291 | (14023) | 590520 | 133040 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (108863) | (39858) | (35241) | (7801) | (49133) | (43404) | (15943) | (6488) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | (1) | 2 | (1) | (1) | (1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 2138655 | (71870) | 160790 | 143408 | 643144 | 34596 | 593943 | 449000 |
| **Net change in contract owners' equity** |  | 2467298 | 111383 | 298186 | 235248 | 644724 | 95391 | 676795 | 514559 |
| **Contract owners' equity at beginning of period** |  | 1464035 | 1352652 | 701548 | 466300 | 1392343 | 1296952 | 890937 | 376378 |
| **Contract owners' equity at end of period** | $— | 3931333 | 1464035 | 999734 | 701548 | 2037067 | 1392343 | 1567732 | 890937 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 72822 | 76717 | 26909 | 20921 | 117076 | 114206 | 65848 | 30253 |
| Units purchased |  | 108281 | 3595 | 7679 | 6765 | 108775 | 27339 | 41134 | 36554 |
| Units redeemed |  | (12690) | (7490) | (2324) | (777) | (56220) | (24469) | (1580) | (959) |
| Ending units |  | 168413 | 72822 | 32264 | 26909 | 169631 | 117076 | 105402 | 65848 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **AMVGB4** | **AMVGB4** | **AMVGB4** | **AMVGG4** | **AMVGG4** | **AMVGI4** | **AMVGI4** | **AMVGR4** | **AMVGR4** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 5449 |  | 5469 | 1206 | 16311 | 15940 | 3041 | 2489 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (1259) | (6047) | (3944) | (22304) | 7386 | (388) | (56920) | 37584 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (12725) | 22516 | 18525 | 39983 | 241293 | 233679 | 478898 | 341438 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 11217 | 12653 | 69327 | 80031 | 41717 | 79664 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (8535) | 16469 | 31267 | 31538 | 334317 | 329262 | 466736 | 461175 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 22849 | 227404 |  | 78944 | 44671 | 113491 | 129929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 45127 | 245 | 262310 | 133 | 143376 | (277913) | (6811) | 42005 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (9068) | (38849) | (13110) | (8820) | (58347) | (18875) | (133801) | (216626) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | 2 |  |  |  | (1) | 1 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 36058 | (15753) | 476604 | (8687) | 163973 | (252118) | (27120) | (44693) |
| **Net change in contract owners' equity** |  | 27523 | 716 | 507871 | 22851 | 498290 | 77144 | 439616 | 416482 |
| **Contract owners' equity at beginning of period** |  | 251411 | 250695 | 163789 | 140938 | 1425230 | 1348086 | 1553094 | 1136612 |
| **Contract owners' equity at end of period** | $— | 278934 | 251411 | 671660 | 163789 | 1923520 | 1425230 | 1992710 | 1553094 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 24866 | 26257 | 9892 | 10410 | 49726 | 59181 | 40018 | 40455 |
| Units purchased |  | 4798 | 2493 | 28471 | 4697 | 9788 | 2955 | 11236 | 7892 |
| Units redeemed |  | (1127) | (3884) | (2587) | (5215) | (5357) | (12410) | (12148) | (8329) |
| Ending units |  | 28537 | 24866 | 35776 | 9892 | 54157 | 49726 | 39106 | 40018 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **AMVGS4** | **AMVGS4** | **AMVGS4** | **AMVGW4** | **AMVGW4** | **AMVHI4** | **AMVHI4** | **AMVI4** | **AMVI4** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 1827 | 52 | 4760 | 4365 | 94442 | 100226 | 4187 | 6147 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (56005) | (10596) | 4084 | 10063 | 77330 | (2140) | (47870) | (48046) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 47311 | 37285 | 18203 | 20886 | (18323) | 31818 | 62594 | 144597 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 7906 | 2412 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 1039 | 29153 | 27047 | 35314 | 153449 | 129904 | 18911 | 102698 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 7174 | 8140 |  | 73474 | 28474 | (183) |  | (274) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 9414 | 38714 | 100744 | 23272 | (389901) | 1666386 | (134037) | (248445) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1970) | (19979) | (2736) | (4643) | (89220) | (23512) | (22627) | (20077) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 2 |  |  |  | 2 | 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 14620 | 26875 | 98008 | 92103 | (450645) | 1642692 | (156664) | (268796) |
| **Net change in contract owners' equity** |  | 15659 | 56028 | 125055 | 127417 | (297196) | 1772596 | (137753) | (166098) |
| **Contract owners' equity at beginning of period** |  | 227757 | 171729 | 219743 | 92326 | 1932118 | 159522 | 541876 | 707974 |
| **Contract owners' equity at end of period** | $— | 243416 | 227757 | 344798 | 219743 | 1634922 | 1932118 | 404123 | 541876 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 17675 | 15431 | 15290 | 7751 | 127218 | 11783 | 37724 | 56955 |
| Units purchased |  | 6029 | 4006 | 6777 | 13770 | 174856 | 302904 | 833 | 1536 |
| Units redeemed |  | (5205) | (1762) | (966) | (6231) | (203662) | (187469) | (11224) | (20767) |
| Ending units |  | 18499 | 17675 | 21101 | 15290 | 98412 | 127218 | 27333 | 37724 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **AMVIG4** | **AMVIG4** | **AMVIG4** | **AMVM4** | **AMVM4** | **AMVNW4** | **AMVNW4** | **AMVUA4** | **AMVUA4** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 20657 | 15200 | 3014 | 13660 | 37168 | 30018 | 27612 | 12830 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (7510) | (55378) | (6612) | (2448) | (120948) | (24811) | (8858) | (44942) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 3436 | 130455 | (297) | 2641 | 221953 | 350785 | (21415) | 41906 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  | 11870 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 16583 | 90277 | (3895) | 13853 | 150043 | 355992 | (2661) | 9794 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 171195 | 44135 |  | 22210 | 234931 | 128025 | 22725 | 72272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 58345 | 5851 | (315277) | 9681 | 589801 | (87339) | 325682 | 158460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (7563) | (43974) | (3114) | (10920) | (91212) | (79749) | (23906) | (13694) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (1) | (2) | 1 | (1) | (3) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 221978 | 6011 | (318393) | 20972 | 733519 | (39066) | 324500 | 217037 |
| **Net change in contract owners' equity** |  | 238561 | 96288 | (322288) | 34825 | 883562 | 316926 | 321839 | 226831 |
| **Contract owners' equity at beginning of period** |  | 655397 | 559109 | 390714 | 355889 | 2514524 | 2197598 | 446271 | 219440 |
| **Contract owners' equity at end of period** | $— | 893958 | 655397 | 68426 | 390714 | 3398086 | 2514524 | 768110 | 446271 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 56276 | 55525 | 34900 | 32905 | 152144 | 153802 | 41739 | 21062 |
| Units purchased |  | 19174 | 6059 | 225 | 8351 | 78950 | 23054 | 45330 | 36152 |
| Units redeemed |  | (1003) | (5308) | (29034) | (6356) | (37732) | (24712) | (15547) | (15475) |
| Ending units |  | 74447 | 56276 | 6091 | 34900 | 193362 | 152144 | 71522 | 41739 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **AVPAP2** | **AVPAP2** | **AVPAP2** | **AVRBP2** | **AVRBP2** | **PIHYB2** | **PIHYB2** | **PIVB2** | **PIVB2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 6738 | 5623 | 3139 | 1913 | 35568 | 17193 | 12122 | 13427 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 493 | (579) | (130) | (705) | 23660 | 34400 | (39827) | (365) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 35467 | (10329) | 21406 | (2480) | 4116 | (13497) | 34903 | 10783 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 4813 | 35854 |  | 12995 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 47511 | 30569 | 24415 | 11723 | 63344 | 38096 | 7198 | 23845 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 20851 | 37995 | 44316 | (200) | 227 | 554 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  |  |  |  |  | 837694 | (1608251) | (142268) | 35519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (7254) | (6501) | (865) | (62) | (21620) | (8584) | (26277) | (1585) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  | 1 | 1 | 180 | (2) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (7254) | (6501) | 19986 | 37934 | 860391 | (1616855) | (168320) | 34504 |
| **Net change in contract owners' equity** |  | 40257 | 24068 | 44401 | 49657 | 923735 | (1578759) | (161122) | 58349 |
| **Contract owners' equity at beginning of period** |  | 324844 | 300776 | 153473 | 103816 |  | 1578759 | 395156 | 336807 |
| **Contract owners' equity at end of period** | $— | 365101 | 324844 | 197874 | 153473 | 923735 |  | 234034 | 395156 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 19990 | 20403 | 9328 | 6924 |  | 70177 | 21879 | 19898 |
| Units purchased |  |  |  | 1274 | 3228 | 117198 | 313146 | 2091 | 2239 |
| Units redeemed |  | (389) | (413) | (51) | (824) | (83103) | (383323) | (11392) | (258) |
| Ending units |  | 19601 | 19990 | 10551 | 9328 | 34095 |  | 12578 | 21879 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PIVEI2** | **PIVEI2** | **PIVEI2** | **PIVF2** | **PIVF2** | **PIVMV2** | **PIVMV2** | **PIVSI2** | **PIVSI2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 479 | 1450 | 2036 | 1189 | 1783 | 133 | 22563 | 19366 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1821 | (2601) | 15757 | (11247) | (90) |  | (24292) | (1018) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (4406) | (2542) | 45621 | 53543 | 2859 | 333 | 23830 | 23789 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 4602 | 10544 | 18847 | 8771 | 6226 | 897 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 2496 | 6851 | 82261 | 52256 | 10778 | 1363 | 22101 | 42137 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  | 8963 | (1) | (1) | 49 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  |  | (86319) | 232101 | 27003 | 54909 | 27736 | 3136 | 2251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (33423) | (4162) | (5406) | (21450) | (3781) | (9) | (63929) | (2076) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | (1) | (1) | 1 | (3) | 1 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (33424) | (90482) | 226694 | 5554 | 60088 | 27727 | (60793) | 225 |
| **Net change in contract owners' equity** |  | (30928) | (83631) | 308955 | 57810 | 70866 | 29090 | (38692) | 42362 |
| **Contract owners' equity at beginning of period** |  | 55618 | 139249 | 233674 | 175864 | 36612 | 7522 | 562841 | 520479 |
| **Contract owners' equity at end of period** | $— | 24690 | 55618 | 542629 | 233674 | 107478 | 36612 | 524149 | 562841 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1380 | 3702 | 4281 | 4142 | 1028 | 237 | 28509 | 28493 |
| Units purchased |  |  | 32 | 4878 | 841 | 1797 | 791 | 3788 | 581 |
| Units redeemed |  | (828) | (2354) | (1032) | (702) | (98) |  | (6735) | (565) |
| Ending units |  | 552 | 1380 | 8127 | 4281 | 2727 | 1028 | 25562 | 28509 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **BRVED3** | **BRVED3** | **BRVED3** | **BRVHY3** | **BRVHY3** | **BRVTR3** | **BRVTR3** | **BVLCC3** | **BVLCC3** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 3862 | 2706 | 43369 | 43978 | 26209 | 8352 | 869 | 618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (2727) | (2113) | 1611 | (9529) | (4945) | (9156) | 1259 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 3628 | 8319 | 2576 | 51623 | (13396) | 16831 | 12348 | 14870 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 12207 | 8163 |  |  |  |  | 20368 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 16970 | 17075 | 47556 | 86072 | 7868 | 16027 | 34844 | 15668 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 23004 | 45957 | 32546 | 160396 | 159639 | 55727 | 35160 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  |  | 10451 | (48298) | 39717 | 185040 | 76658 | 8471 | 40440 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (32822) | (2317) | (4907) | (79753) | (23885) | (32196) | (4739) | (1495) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (1) | 211 | 368 | 1285 | 645 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (32821) | 31137 | (7037) | (7122) | 322836 | 204746 | 59459 | 74105 |
| **Net change in contract owners' equity** |  | (15851) | 48212 | 40519 | 78950 | 330704 | 220773 | 94303 | 89773 |
| **Contract owners' equity at beginning of period** |  | 173330 | 125118 | 732403 | 653453 | 392935 | 172162 | 123292 | 33519 |
| **Contract owners' equity at end of period** | $— | 157479 | 173330 | 772922 | 732403 | 723639 | 392935 | 217595 | 123292 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 5169 | 4178 | 40010 | 40303 | 32292 | 14914 | 2844 | 966 |
| Units purchased |  |  | 1373 | 10170 | 27236 | 28512 | 22133 | 1264 | 1915 |
| Units redeemed |  | (888) | (382) | (11031) | (27529) | (2002) | (4755) | (96) | (37) |
| Ending units |  | 4281 | 5169 | 39149 | 40010 | 58802 | 32292 | 4012 | 2844 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **BVLCV3** | **BVLCV3** | **BVLCV3** | **BVLFG3** | **BVLFG3** | **MLVGA3** | **MLVGA3** | **DSIF** | **DSIF** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 83 | 68 |  |  | 17793 | 24938 | 6494 | 6115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 3 |  | 237656 | 62732 | (11164) | (8607) | 95165 | (28580) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (99) | (223) | (61254) | 131034 | (2134) | 94531 | 5263 | 99967 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 868 | 180 | 62037 | 12162 | 96268 |  | 43825 | 19893 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 855 | 25 | 238439 | 205928 | 100763 | 110862 | 150747 | 97395 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 5288 | 143816 | (1) | 158138 | 47861 | 42288 | 1950 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  |  |  | (539590) | 919880 | 16929 | 78083 | 104077 | 174 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (78) | (1) | (51902) | (194138) | (83902) | (34826) | (99803) | (55153) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | (1) | 1 | 1 | (2) | 2 | (1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (79) | 5286 | (447675) | 725742 | 91163 | 91120 | 46561 | (53028) |
| **Net change in contract owners' equity** |  | 776 | 5311 | (209236) | 931670 | 191926 | 201982 | 197308 | 44367 |
| **Contract owners' equity at beginning of period** |  | 5311 |  | 1009680 | 78010 | 1030595 | 828613 | 538324 | 493957 |
| **Contract owners' equity at end of period** | $— | 6087 | 5311 | 800444 | 1009680 | 1222521 | 1030595 | 735632 | 538324 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 151 |  | 18223 | 2147 | 52138 | 47155 | 18141 | 20910 |
| Units purchased |  |  | 151 | 10542 | 37035 | 9905 | 8402 | 36106 | 18838 |
| Units redeemed |  | (2) |  | (17770) | (20959) | (5264) | (3419) | (34311) | (21607) |
| Ending units |  | 149 | 151 | 10995 | 18223 | 56779 | 52138 | 19936 | 18141 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **DSRG** | **DSRG** | **DSRG** | **DVSCS** | **DVSCS** | **CVN1IF** | **CVN1IF** | **CVSBF** | **CVSBF** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 965 | 1433 | 15336 | 11461 |  |  | 14026 | 9441 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 845 | (14470) | 11756 | (5276) | 1495 |  | 2092 | (329) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 51817 | 32802 | 114232 | 111740 | (3784) |  | 91308 | 78213 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 1149 | 23007 | 30044 | 59829 |  |  | 14451 | 2262 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 54776 | 42772 | 171368 | 177754 | (2289) |  | 121877 | 89587 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 20564 | 38885 |  |  | 111227 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 230508 | (174) | 1305722 | 105311 | 315734 |  | 75320 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1571) | (13172) | (124954) | (24921) | (39) |  | (12510) | (9341) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | (1) | 2 |  |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 228937 | (13346) | 1201331 | 119277 | 315695 |  | 174037 | (9341) |
| **Net change in contract owners' equity** |  | 283713 | 29426 | 1372699 | 297031 | 313406 |  | 295914 | 80246 |
| **Contract owners' equity at beginning of period** |  | 135562 | 106136 | 1368751 | 1071720 |  |  | 630118 | 549872 |
| **Contract owners' equity at end of period** | $— | 419275 | 135562 | 2741450 | 1368751 | 313406 |  | 926032 | 630118 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 2548 | 2471 | 27198 | 24573 |  |  | 32156 | 32668 |
| Units purchased |  | 3863 | 2232 | 31546 | 4403 | 38215 |  | 8366 | 5 |
| Units redeemed |  | (100) | (2155) | (8285) | (1778) | (8728) |  | (781) | (517) |
| Ending units |  | 6311 | 2548 | 50459 | 27198 | 29487 |  | 39741 | 32156 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **CLVGT2** | **CLVGT2** | **CLVGT2** | **CLVLV1** | **CLVLV1** | **CLVSI2** | **CLVSI2** | **CLVSV1** | **CLVSV1** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  |  |  | 18742 | 26668 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (89604) | 3360 | 4097 | 636 | (18452) | (22168) | 58220 | 93128 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 471416 | 565539 | 32953 | 14585 | 21325 | 62969 | (17989) | (52347) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 145713 | 99066 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 527525 | 667965 | 37050 | 15221 | 21615 | 67469 | 40231 | 40781 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 75855 | (9) |  | 1 | 1 | 2516 | 30543 | 44007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (587347) | 50070 | (18030) | (3994) | (411044) | 198104 | 7829 | (110574) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (5897) | (18950) | (2300) | (1720) | (95749) | (26704) | (224690) | (1470) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (3) |  | (1) |  | (1) | 1 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (517389) | 31108 | (20330) | (5714) | (506792) | 173915 | (186317) | (68038) |
| **Net change in contract owners' equity** |  | 10136 | 699073 | 16720 | 9507 | (485177) | 241384 | (146086) | (27257) |
| **Contract owners' equity at beginning of period** |  | 2187370 | 1488297 | 295913 | 286406 | 890740 | 649356 | 268541 | 295798 |
| **Contract owners' equity at end of period** | $— | 2197506 | 2187370 | 312633 | 295913 | 405563 | 890740 | 122455 | 268541 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 15269 | 15051 | 8233 | 8398 | 70477 | 56106 | 9312 | 11605 |
| Units purchased |  | 1571 | 668 |  | 4 | 4191 | 25526 | 2157 | 3512 |
| Units redeemed |  | (4721) | (450) | (526) | (169) | (43963) | (11155) | (7742) | (5805) |
| Ending units |  | 12119 | 15269 | 7707 | 8233 | 30705 | 70477 | 3727 | 9312 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **CSCRS** | **CSCRS** | **CSCRS** | **DWVSVS** | **DWVSVS** | **DFVEA** | **DFVEA** | **DFVGB** | **DFVGB** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 1647 | 11765 | 2392 | 1382 | 166476 | 140648 | 167714 | 91020 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (122) | (25542) | (7591) | (2953) | 556565 | 33244 | (11083) | (9914) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 1133 | 8282 | 10962 | 12056 | 303754 | 693404 | (13038) | 24606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 8984 | 9260 | 119629 | 154788 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 2658 | (5495) | 14747 | 19745 | 1146424 | 1022084 | 143593 | 105712 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 411934 | 8661 | 961344 | 291292 | 46223 | 68405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (720) | 4060 | (39612) | (5258) | 710105 | 1916001 | 1067418 | 207744 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (3053) | (4948) | (543) | (6476) | (158719) | (44138) | (90964) | (69089) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  | (3) | (1) | 1 | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (3773) | (888) | 371779 | (3076) | 1512729 | 2163156 | 1022679 | 207060 |
| **Net change in contract owners' equity** |  | (1115) | (6383) | 386526 | 16669 | 2659153 | 3185240 | 1166272 | 312772 |
| **Contract owners' equity at beginning of period** |  | 54891 | 61274 | 227598 | 210929 | 7676901 | 4491661 | 2474712 | 2161940 |
| **Contract owners' equity at end of period** | $— | 53776 | 54891 | 614124 | 227598 | 10336054 | 7676901 | 3640984 | 2474712 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 7674 | 7786 | 12456 | 12594 | 464369 | 325617 | 223392 | 204509 |
| Units purchased |  | 202 | 6507 | 20107 | 1108 | 288405 | 147754 | 105944 | 29941 |
| Units redeemed |  | (704) | (6619) | (2288) | (1246) | (208207) | (9002) | (16674) | (11058) |
| Ending units |  | 7172 | 7674 | 30275 | 12456 | 544567 | 464369 | 312662 | 223392 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **DFVGMI** | **DFVGMI** | **DFVGMI** | **DFVIS** | **DFVIS** | **DFVIV** | **DFVIV** | **DFVSTF** | **DFVSTF** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 123084 | 139667 | 73512 | 64718 | 159086 | 162365 | 224857 | 112631 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 307918 | 136715 | 40349 | 4011 | 121174 | 340307 | 2036 | (18854) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 142635 | 401142 | (98576) | 230131 | (137076) | 87070 | (15275) | 58779 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 29139 | 62403 | 61949 |  | 87174 | 34339 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 602776 | 739927 | 77234 | 298860 | 230358 | 624081 | 211618 | 152556 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 300931 | 223932 | 284038 | 148476 | 143811 | 65719 | 223302 | 243499 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (552895) | 833481 | (37703) | (147811) | 201617 | (452313) | 1124268 | 119388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (688410) | (736165) | (158321) | (79462) | (136465) | (134518) | (99126) | (619600) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | 1 | 1 |  | (1) | 1 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (940375) | 321249 | 88015 | (78797) | 208962 | (521111) | 1248444 | (256714) |
| **Net change in contract owners' equity** |  | (337599) | 1061176 | 165249 | 220063 | 439320 | 102970 | 1460062 | (104158) |
| **Contract owners' equity at beginning of period** |  | 5510074 | 4448898 | 2347689 | 2127626 | 3751014 | 3648044 | 3438696 | 3542854 |
| **Contract owners' equity at end of period** | $— | 5172475 | 5510074 | 2512938 | 2347689 | 4190334 | 3751014 | 4898758 | 3438696 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 319284 | 295016 | 148261 | 152942 | 254610 | 291117 | 318213 | 343327 |
| Units purchased |  | 79410 | 67887 | 37859 | 28762 | 70710 | 51846 | 145572 | 124535 |
| Units redeemed |  | (130389) | (43619) | (32873) | (33443) | (57885) | (88353) | (32945) | (149649) |
| Ending units |  | 268305 | 319284 | 153247 | 148261 | 267435 | 254610 | 430840 | 318213 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **DFVULV** | **DFVULV** | **DFVULV** | **DFVUTV** | **DFVUTV** | **ETVFR** | **ETVFR** | **FHIB** | **FHIB** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 93285 | 80661 | 65731 | 60592 | 158272 | 195952 | 40431 | 17042 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 227123 | 434644 | 170783 | 404554 | 5763 | (72321) | 7476 | (479) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (303465) | (79513) | (218191) | 85672 | (15529) | 122775 | (23718) | 35943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 529357 | 55784 | 385587 | 319644 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 546300 | 491576 | 403910 | 870462 | 148506 | 246406 | 24189 | 52506 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 132989 | 67267 | 76629 | 147826 | 6923 | 10443 | 21454 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 346598 | (290067) | 700422 | (52358) | (295615) | (1355340) | (277917) | 276884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (150568) | (47725) | (706901) | (126095) | (31227) | (62007) | (5271) | (9208) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 2 |  | 1 |  | (1) | 5 | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 329021 | (270525) | 70151 | (30627) | (319920) | (1406899) | (261735) | 267676 |
| **Net change in contract owners' equity** |  | 875321 | 221051 | 474061 | 839835 | (171414) | (1160493) | (237546) | 320182 |
| **Contract owners' equity at beginning of period** |  | 4280376 | 4059325 | 5010092 | 4170257 | 2238413 | 3398906 | 595740 | 275558 |
| **Contract owners' equity at end of period** | $— | 5155697 | 4280376 | 5484153 | 5010092 | 2066999 | 2238413 | 358194 | 595740 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 201030 | 210944 | 216675 | 215946 | 137158 | 231617 | 19593 | 10215 |
| Units purchased |  | 49234 | 59664 | 64798 | 44523 | 8026 | 183943 | 4931 | 11182 |
| Units redeemed |  | (36169) | (69578) | (61593) | (43794) | (27563) | (278402) | (13439) | (1804) |
| Ending units |  | 214095 | 201030 | 219880 | 216675 | 117621 | 137158 | 11085 | 19593 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **FVK2S** | **FVK2S** | **FVK2S** | **FVU2** | **FVU2** | **FB2** | **FB2** | **FC2** | **FC2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 4303 |  | 26470 | 7743 | 22908 | 14843 | 901 | 5684 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (420) | (37) | (3641) | (6) | 7993 | (28393) | 60773 | (169889) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 79455 | 79656 | 120513 | 32011 | 103308 | 168616 | 324806 | 656705 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 20067 |  |  |  | 35166 | 40978 | 451613 | 82200 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 103405 | 79619 | 143342 | 39748 | 169375 | 196044 | 838093 | 574700 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 399 | 6149 | 1 |  | 211910 |  | 483064 | 95608 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  |  |  | 613187 | 40189 | 122303 | (237096) | 268082 | (443253) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (2719) | (90) | (83979) | (106) | (16959) | (14801) | (69548) | (10586) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | 3 | (1) | 1 | (2) |  | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (2320) | 6062 | 529208 | 40084 | 317252 | (251897) | 681597 | (358231) |
| **Net change in contract owners' equity** |  | 101085 | 85681 | 672550 | 79832 | 486627 | (55853) | 1519690 | 216469 |
| **Contract owners' equity at beginning of period** |  | 616107 | 530426 | 490805 | 410973 | 971331 | 1027184 | 2405411 | 2188942 |
| **Contract owners' equity at end of period** | $— | 717192 | 616107 | 1163355 | 490805 | 1457958 | 971331 | 3925101 | 2405411 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 17340 | 17146 | 15176 | 13810 | 30123 | 38620 | 52264 | 63311 |
| Units purchased |  | 13 | 196 | 19487 | 1371 | 11168 | 1048 | 23981 | 12651 |
| Units redeemed |  | (68) | (2) | (3535) | (5) | (2188) | (9545) | (12338) | (23698) |
| Ending units |  | 17285 | 17340 | 31128 | 15176 | 39103 | 30123 | 63907 | 52264 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **FDSCS2** | **FDSCS2** | **FDSCS2** | **FEI2** | **FEI2** | **FEMS2** | **FEMS2** | **FG2** | **FG2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 6097 | 1812 | 8281 | 22229 | 228 |  |  | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (1697) | 346 | 70573 | (4128) | (1) |  | 135057 | (16135) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 83556 | 39041 | 43593 | 67799 | (457) |  | (155400) | 241937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 4578 |  | 35932 | 38144 |  |  | 552110 | 59859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 92534 | 41199 | 158379 | 124044 | (230) |  | 531767 | 285680 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 106555 | 18953 | 9887 | 99545 |  |  | 89217 | 216884 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 365514 | 51225 | (969243) | 87823 | 20250 |  | 462210 | 601491 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (33697) | (7023) | (12285) | (17773) | (52) |  | (38537) | (29306) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | 2 |  | 1 |  |  | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 438372 | 63157 | (971641) | 169596 | 20198 |  | 512891 | 789070 |
| **Net change in contract owners' equity** |  | 530906 | 104356 | (813262) | 293640 | 19968 |  | 1044658 | 1074750 |
| **Contract owners' equity at beginning of period** |  | 270845 | 166489 | 1334989 | 1041349 |  |  | 1515066 | 440316 |
| **Contract owners' equity at end of period** | $— | 801751 | 270845 | 521727 | 1334989 | 19968 |  | 2559724 | 1515066 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 7718 | 5725 | 37451 | 32245 |  |  | 23592 | 9317 |
| Units purchased |  | 14887 | 2665 | 7064 | 6308 | 1916 |  | 15630 | 16058 |
| Units redeemed |  | (3006) | (672) | (31794) | (1102) | (5) |  | (8578) | (1783) |
| Ending units |  | 19599 | 7718 | 12721 | 37451 | 1911 |  | 30644 | 23592 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **FGI2** | **FGI2** | **FGI2** | **FGO2** | **FGO2** | **FHI2** | **FHI2** | **FIGBP2** | **FIGBP2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 4275 | 1814 |  |  | 5299 | 3657 | 126585 | 85949 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 7568 | 733 | 458859 | (190277) | 1369 | 538 | (62498) | (313229) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 482 | 13149 | 145094 | 789976 | 79 | 1825 | (6202) | 417525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 22441 | 4462 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 34766 | 20158 | 603953 | 599699 | 6747 | 6020 | 57885 | 190245 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | (9858) | 94853 | 97455 |  | (136) | 783560 | 161606 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 190404 | 10357 | (1175112) | 667778 | 17294 | 9495 | 802552 | 491421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (4970) | (6561) | (41800) | (117972) | (3764) | (8832) | (425644) | (806715) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (1) | (1) |  | 2 | (1) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 185434 | (6063) | (1122060) | 647261 | 13532 | 526 | 1160467 | (153689) |
| **Net change in contract owners' equity** |  | 220200 | 14095 | (518107) | 1246960 | 20279 | 6546 | 1218352 | 36556 |
| **Contract owners' equity at beginning of period** |  | 130883 | 116788 | 2203992 | 957032 | 66528 | 59982 | 3437638 | 3401082 |
| **Contract owners' equity at end of period** | $— | 351083 | 130883 | 1685885 | 2203992 | 86807 | 66528 | 4655990 | 3437638 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 2984 | 3152 | 29293 | 18482 | 3884 | 3860 | 253913 | 266287 |
| Units purchased |  | 4549 | 2431 | 4208 | 17477 | 2172 | 3730 | 133098 | 133376 |
| Units redeemed |  | (969) | (2599) | (17330) | (6666) | (1390) | (3706) | (48186) | (145750) |
| Ending units |  | 6564 | 2984 | 16171 | 29293 | 4666 | 3884 | 338825 | 253913 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **FMC2** | **FMC2** | **FMC2** | **FNRS2** | **FNRS2** | **FO2** | **FO2** | **FRESS2** | **FRESS2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 2513 | 1080 | 5953 | 6227 | 5477 | 1138 | 7875 | 5455 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1755 | (4666) | 17945 | (32938) | 6413 | 830 | (3685) | (69659) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (29004) | 33822 | (3608) | 14964 | (42492) | 23358 | 7593 | 67612 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 90501 | 7920 |  |  | 19688 | 381 |  | 15930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 65765 | 38156 | 20290 | (11747) | (10914) | 25707 | 11783 | 19338 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 13733 | 2290 | 246344 | 17534 |  | (1) |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 356592 | 88215 | (74465) | 1030 | 284355 | (421) | (26313) | (79009) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (11047) | (3371) | (18495) | (12819) | (4170) | (2728) | (602) | (1234) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (2) | 1 | (1) | (1) | 1 | 2 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 359279 | 87132 | 153385 | 5744 | 280184 | (3149) | (26913) | (80243) |
| **Net change in contract owners' equity** |  | 425044 | 125288 | 173675 | (6003) | 269270 | 22558 | (15130) | (60905) |
| **Contract owners' equity at beginning of period** |  | 312816 | 187528 | 323311 | 329314 | 151163 | 128605 | 215102 | 276007 |
| **Contract owners' equity at end of period** | $— | 737860 | 312816 | 496986 | 323311 | 420433 | 151163 | 199972 | 215102 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 10239 | 7047 | 10902 | 11182 | 7254 | 7419 | 8919 | 12691 |
| Units purchased |  | 10869 | 4796 | 9602 | 24884 | 16220 | 73 | 494 | 7063 |
| Units redeemed |  | (496) | (1604) | (4393) | (25164) | (4224) | (238) | (1609) | (10835) |
| Ending units |  | 20612 | 10239 | 16111 | 10902 | 19250 | 7254 | 7804 | 8919 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **FV2** | **FV2** | **FV2** | **FVFI2** | **FVFI2** | **FVFRHI** | **FVFRHI** | **FVICA2** | **FVICA2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 11052 | 8452 | 5203 | 7787 | 71732 | 25070 | 9427 | 1502 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 19314 | 4341 | (3232) | (11309) | (2150) | (4332) | (7030) | (31079) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (30380) | 91658 | 5558 | 17816 | (5131) | (7834) | 73459 | 226498 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 96847 | 28617 | 90 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 96833 | 133068 | 7619 | 14294 | 64451 | 12904 | 75856 | 196921 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 43966 |  |  |  | 83765 | 6849 | 553037 | 40732 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (9215) | 86203 | (31657) | (69064) | 696062 | 263592 | 379913 | 232397 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (503063) | (5219) | (4170) | (4313) | (16553) | (2873) | (46703) | (21044) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (1) |  | 1 | (2) |  | (1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (468312) | 80983 | (35827) | (73376) | 763272 | 267568 | 886246 | 252086 |
| **Net change in contract owners' equity** |  | (371479) | 214051 | (28208) | (59082) | 827723 | 280472 | 962102 | 449007 |
| **Contract owners' equity at beginning of period** |  | 839837 | 625786 | 173158 | 232240 | 280472 |  | 1080977 | 631970 |
| **Contract owners' equity at end of period** | $— | 468358 | 839837 | 144950 | 173158 | 1108195 | 280472 | 2043079 | 1080977 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 20128 | 17918 | 13399 | 19345 | 26014 |  | 38413 | 28561 |
| Units purchased |  | 3186 | 2777 |  | 19 | 79022 | 49014 | 37673 | 14881 |
| Units redeemed |  | (13209) | (567) | (2635) | (5965) | (10306) | (23000) | (8814) | (5029) |
| Ending units |  | 10105 | 20128 | 10764 | 13399 | 94730 | 26014 | 67272 | 38413 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **FVSIS2** | **FVSIS2** | **FVSIS2** | **FVSS2** | **FVSS2** | **FEOVF** | **FEOVF** | **FTVGI2** | **FTVGI2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 74599 | 40011 | 5485 | 849 | 16860 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (20825) | (21976) | 6228 | (6828) | 2105 | (5973) | (15870) | (5737) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 51829 | 62324 | (59526) | 14342 | (38886) | 11501 | 5457 | 9768 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 89862 | 3579 | 6665 | 26467 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 105603 | 80359 | 42049 | 11942 | (13256) | 31995 | (10413) | 4031 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 186133 | 13684 | 52 |  | 545 | 81417 |  | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 1004373 | 51038 | 719479 | 8773 | 660199 | 3151 | (233790) | 77594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (88829) | (47745) | (8193) | (797) | (7476) | (62934) | (1592) | (22214) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  | 1 | (1) | (2) |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 1101677 | 16977 | 711338 | 7977 | 653267 | 21632 | (235382) | 55444 |
| **Net change in contract owners' equity** |  | 1207280 | 97336 | 753387 | 19919 | 640011 | 53627 | (245795) | 59475 |
| **Contract owners' equity at beginning of period** |  | 958748 | 861412 | 100125 | 80206 | 310601 | 256974 | 258226 | 198751 |
| **Contract owners' equity at end of period** | $— | 2166028 | 958748 | 853512 | 100125 | 950612 | 310601 | 12431 | 258226 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 61443 | 60271 | 8563 | 8273 | 11838 | 10781 | 16318 | 12922 |
| Units purchased |  | 82900 | 11765 | 61576 | 6298 | 24464 | 3949 |  | 6728 |
| Units redeemed |  | (13114) | (10593) | (3271) | (6008) | (2153) | (2892) | (15432) | (3332) |
| Ending units |  | 131229 | 61443 | 66868 | 8563 | 34149 | 11838 | 886 | 16318 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **FTVGR2** | **FTVGR2** | **FTVGR2** | **FTVIS2** | **FTVIS2** | **FTVMS2** | **FTVMS2** | **FTVRD2** | **FTVRD2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 865 | 7103 | 19080 | 17288 | 288 | 236 | 6195 | 8487 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (47415) | (2455) | (657) | (3036) | (27) | (2061) | 332 | (69293) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 40970 | 22020 | 7338 | (12232) | 942 | 1936 | 27503 | 55823 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 1563 | 20958 | 299 | 1088 | 29474 | 97403 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (5580) | 26668 | 27324 | 22978 | 1502 | 1199 | 63504 | 92420 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 28586 | 499 | 1200 | 2 | (1) | 52962 | 232 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (194387) | (968) | 71567 | 138094 |  | 403 | (1017) | (371121) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (2002) | (2945) | (3916) | (2840) | (197) | (158) | (4482) | (18262) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (1) | 1 | 1 | (1) | 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (196388) | 24672 | 68151 | 136455 | (196) | 245 | 47463 | (389151) |
| **Net change in contract owners' equity** |  | (201968) | 51340 | 95475 | 159433 | 1306 | 1444 | 110967 | (296731) |
| **Contract owners' equity at beginning of period** |  | 266870 | 215530 | 354201 | 194768 | 13387 | 11943 | 562025 | 858756 |
| **Contract owners' equity at end of period** | $— | 64902 | 266870 | 449676 | 354201 | 14693 | 13387 | 672992 | 562025 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 10427 | 9383 | 10745 | 6418 | 393 | 398 | 23039 | 39454 |
| Units purchased |  | 1547 | 1292 | 2095 | 4949 |  | 320 | 2556 | 7152 |
| Units redeemed |  | (9430) | (248) | (115) | (622) | (5) | (325) | (693) | (23567) |
| Ending units |  | 2544 | 10427 | 12725 | 10745 | 388 | 393 | 24902 | 23039 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **FTVSI2** | **FTVSI2** | **FTVSI2** | **FTVUG2** | **FTVUG2** | **GVMSA** | **GVMSA** | **GVFRB** | **GVFRB** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 12456 | 15087 | 949 | 151 | 9846 | 15260 | 180691 | 86382 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (5888) | (23015) | (1431) | (9) | (356) | (156) | 39917 | 15388 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 2850 | 30612 | (609) | 764 | (2203) | (2730) | (55854) | 106888 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 9418 | 22684 | (1091) | 906 | 7287 | 12374 | 164754 | 208658 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 334 | 50149 |  |  | 97522 | 46001 | 22952 | 3689 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 492158 | (107964) | 42570 | 24805 | 41633 | 70770 | 156872 | 1426842 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (6884) | (7052) | (26391) | (147) | (8074) | (3110) | (82933) | (94622) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | (1) |  |  | 1 |  |  | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 485607 | (64868) | 16179 | 24658 | 131082 | 113661 | 96891 | 1335907 |
| **Net change in contract owners' equity** |  | 495025 | (42184) | 15088 | 25564 | 138369 | 126035 | 261645 | 1544565 |
| **Contract owners' equity at beginning of period** |  | 310919 | 353103 | 31123 | 5559 | 243709 | 117674 | 2437380 | 892815 |
| **Contract owners' equity at end of period** | $— | 805944 | 310919 | 46211 | 31123 | 382078 | 243709 | 2699025 | 2437380 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 15205 | 18681 | 2436 | 455 | 21801 | 11319 | 170328 | 69331 |
| Units purchased |  | 24838 | 2814 | 16760 | 1993 | 12046 | 10771 | 40797 | 124021 |
| Units redeemed |  | (2153) | (6290) | (15628) | (12) | (701) | (289) | (34568) | (23024) |
| Ending units |  | 37890 | 15205 | 3568 | 2436 | 33146 | 21801 | 176557 | 170328 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **GVR2XS** | **GVR2XS** | **GVR2XS** | **GVTRBE** | **GVTRBE** | **RAF** | **RAF** | **RBF** | **RBF** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 286 | 40 | 99871 | 81411 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 26553 | (7652) | (45789) | (27367) |  | (6195) | 24 | (7737) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (19876) | 14584 | 27352 | 94326 |  | (1148) | (1688) | 7951 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 430 |  |  |  |  |  | 2146 | 235 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 7393 | 6972 | 81434 | 148370 |  | (7343) | 482 | 449 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 31377 | 177934 |  |  | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 8095 | 40630 | 639852 | (32002) |  | (27450) | (809) | 999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1547) | (416) | (226846) | (97903) |  |  | (215) | (359) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | 1 | 1 | (3) |  |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 6547 | 40215 | 444384 | 48026 |  | (27450) | (1025) | 639 |
| **Net change in contract owners' equity** |  | 13940 | 47187 | 525818 | 196396 |  | (34793) | (543) | 1088 |
| **Contract owners' equity at beginning of period** |  | 47187 |  | 2304847 | 2108451 |  | 34793 | 23963 | 22875 |
| **Contract owners' equity at end of period** | $— | 61127 | 47187 | 2830665 | 2304847 |  |  | 23420 | 23963 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 2223 |  | 152890 | 149589 |  | 58480 | 380 | 383 |
| Units purchased |  | 15133 | 11815 | 58214 | 19891 |  | 192984 | 1979 | 430 |
| Units redeemed |  | (14727) | (9592) | (28970) | (16590) |  | (251464) | (1982) | (433) |
| Ending units |  | 2629 | 2223 | 182134 | 152890 |  |  | 377 | 380 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RBKF** | **RBKF** | **RBKF** | **RBMF** | **RBMF** | **RELF** | **RELF** | **RENF** | **RENF** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 139 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 2 |  |  | (2305) | 134118 | (10404) | 1784 | (3639) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (1504) |  |  |  | (51247) | 97616 |  | (583) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  | 11310 | 5588 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (1363) |  |  | (2305) | 94181 | 92800 | 1784 | (4222) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  | 81556 |  |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 31747 |  |  | 2325 | (70099) | 15717 | (1762) | (17389) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (66) |  |  | (20) | (20246) | (14562) | (21) | (10017) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  |  | (1) | 1 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 31681 |  |  | 2305 | (8790) | 1156 | (1783) | (27406) |
| **Net change in contract owners' equity** |  | 30318 |  |  |  | 85391 | 93956 | 1 | (31628) |
| **Contract owners' equity at beginning of period** |  |  |  |  |  | 264958 | 171002 | 14 | 31642 |
| **Contract owners' equity at end of period`** | $— | 30318 |  |  |  | 350349 | 264958 | 15 | 14 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  |  |  |  |  | 3163 | 3159 | 1 | 1913 |
| Units purchased |  | 2332 |  |  | 2607 | 8667 | 609 | 6881 | 4736 |
| Units redeemed |  | (5) |  |  | (2607) | (8229) | (605) | (6881) | (6648) |
| Ending units |  | 2327 |  |  |  | 3601 | 3163 | 1 | 1 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RESF** | **RESF** | **RESF** | **RFSF** | **RFSF** | **RHCF** | **RHCF** | **RHYS** | **RHYS** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  | 863 |  |  |  | 6151 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1834 | (5573) | 18404 | (115) | 907 | 619 | (246) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (1127) | 1127 | 1101 | 719 | (1372) | (279) | 471 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 380 |  | 721 | 1118 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 707 | (4446) | 20748 | 604 | 256 | 1458 | 6376 |  |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (14765) | 19705 | 47822 | 38339 | 3489 | (30123) | 276481 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1189) | (11) | (1671) |  | (2225) | (1900) | (1571) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) |  |  |  |  | 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (15955) | 19694 | 46151 | 38339 | 1264 | (32021) | 274910 |  |
| **Net change in contract owners' equity** |  | (15248) | 15248 | 66899 | 38943 | 1520 | (30563) | 281286 |  |
| **Contract owners' equity at beginning of period** |  | 15248 |  | 38943 |  | 25635 | 56198 |  |  |
| **Contract owners' equity at end of period** | $— |  | 15248 | 105842 | 38943 | 27155 | 25635 | 281286 |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 2496 |  | 1882 |  | 518 | 1193 |  |  |
| Units purchased |  | 97174 | 29009 | 9642 | 2092 | 241 | 2405 | 22787 |  |
| Units redeemed |  | (99670) | (26513) | (7341) | (210) | (211) | (3080) | (3325) |  |
| Ending units |  |  | 2496 | 4183 | 1882 | 548 | 518 | 19462 |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RINF** | **RINF** | **RINF** | **RJNF** | **RJNF** | **RLCE** | **RLCE** | **RLCJ** | **RLCJ** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  | 306 |  |  | 160 | 983 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 2830 | (4172) | (235) | (3457) | 6133 | 938 | (2198) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (1004) | 1004 | 1260 | (650) | (5996) | 5996 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 1826 | (3168) | 1331 | (4107) | 137 | 7094 | (1215) |  |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  |  |  | 22291 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (30688) | 32779 | (6091) | 3797 | (43077) | 45462 | (21074) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (748) | (1) |  | (31) | (8174) | (1442) | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (1) |  |  |  |  | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (31435) | 32777 | (6091) | 3766 | (51251) | 44020 | 1215 |  |
| **Net change in contract owners' equity** |  | (29609) | 29609 | (4760) | (341) | (51114) | 51114 |  |  |
| **Contract owners' equity at beginning of period** |  | 29609 |  | 12131 | 12472 | 51114 |  |  |  |
| **Contract owners' equity at end of period** | $— |  | 29609 | 7371 | 12131 |  | 51114 |  |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 496 |  | 2994 | 3209 | 3571 |  |  |  |
| Units purchased |  | 4466 | 2549 | 6330 | 27769 | 567 | 4166 | 1890 |  |
| Units redeemed |  | (4962) | (2053) | (7768) | (27984) | (4138) | (595) | (1890) |  |
| Ending units |  |  | 496 | 1556 | 2994 |  | 3571 |  |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RLF** | **RLF** | **RLF** | **RMED** | **RMED** | **RMEK** | **RMEK** | **RNF** | **RNF** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 6 |  | 1223 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1486 | 5066 | (3652) | (1308) | (705) |  | 4 | (646) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (1805) | 7346 | 28408 | 22728 |  |  | (1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (313) | 12412 | 25979 | 21420 | (705) |  | 3 | (645) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 63609 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (41203) | 50611 | (16266) | 9431 | 705 |  | (20) | 862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (13774) | (20387) | (3881) | (2510) |  |  |  | (199) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) |  | 1 | (1) |  |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (54978) | 30224 | 43463 | 6920 | 705 |  | (20) | 662 |
| **Net change in contract owners' equity** |  | (55291) | 42636 | 69442 | 28340 |  |  | (17) | 17 |
| **Contract owners' equity at beginning of period** |  | 61709 | 19073 | 134132 | 105792 |  |  | 17 |  |
| **Contract owners' equity at end of period** | $— | 6418 | 61709 | 203574 | 134132 |  |  |  | 17 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1824 | 691 | 2324 | 2178 |  |  |  |  |
| Units purchased |  | 9953 | 14545 | 1091 | 216 | 684 |  |  | 1530 |
| Units redeemed |  | (11614) | (13412) | (355) | (70) | (684) |  |  | (1530) |
| Ending units |  | 163 | 1824 | 3060 | 2324 |  |  |  |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **ROF** | **ROF** | **ROF** | **RPMF** | **RPMF** | **RREF** | **RREF** | **RRF** | **RRF** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 2917 |  | 792 | 1460 | 612 | 553 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 175024 | 164199 | (20320) | (3522) | (33) | (43) | 2020 | (24779) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 99017 | 187791 | 17610 | (3021) | 1708 | 2080 |  | 34709 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 27001 |  |  |  |  | 1665 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 303959 | 351990 | (1918) | (5083) | 2287 | 4255 | 2020 | 9930 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 128184 | 2 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 114539 | 720300 | (210524) | 109883 |  |  | (2014) | (69987) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (41255) | (230319) | (126885) | (132415) | (87) | (87) | (6) | (11131) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 2 | (4) | (1) | 1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 201470 | 489979 | (337410) | (22531) | (87) | (87) | (2020) | (81118) |
| **Net change in contract owners' equity** |  | 505429 | 841969 | (339328) | (27614) | 2200 | 4168 |  | (71188) |
| **Contract owners' equity at beginning of period** |  | 1146483 | 304514 | 384633 | 412247 | 45470 | 41302 |  | 71188 |
| **Contract owners' equity at end of period** | $— | 1651912 | 1146483 | 45305 | 384633 | 47670 | 45470 |  |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 10928 | 4447 | 25170 | 28009 | 2072 | 2077 |  | 1925 |
| Units purchased |  | 10025 | 21587 | 2680 | 30935 |  |  | 730 | 586 |
| Units redeemed |  | (8245) | (15106) | (25108) | (33774) | (4) | (5) | (730) | (2511) |
| Ending units |  | 12708 | 10928 | 2742 | 25170 | 2068 | 2072 |  |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RTEC** | **RTEC** | **RTEC** | **RTEL** | **RTEL** | **RTF** | **RTF** | **RTRF** | **RTRF** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  |  |  |  |  | 12 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 28546 | 5630 | 1006 |  |  | 102 | 8 | (6386) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 305 | 9404 |  |  |  | 88 | 64 | 733 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 11862 | 916 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 40713 | 15950 | 1006 |  |  | 190 | 84 | (5653) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 19781 | (2) |  |  |  | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 176063 | 2932 | (1006) |  |  | (1703) |  | 11994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (3871) | (602) |  |  |  |  | (81) | (731) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | 3 |  |  |  |  | (1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 191974 | 2331 | (1006) |  |  | (1704) | (82) | 11264 |
| **Net change in contract owners' equity** |  | 232687 | 18281 |  |  |  | (1514) | 2 | 5611 |
| **Contract owners' equity at beginning of period** |  | 40529 | 22248 |  |  |  | 1514 | 5611 |  |
| **Contract owners' equity at end of period** | $— | 273216 | 40529 |  |  |  |  | 5613 | 5611 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 590 | 482 |  |  |  | 27 | 133 |  |
| Units purchased |  | 5487 | 1961 | 6735 |  |  | 31 |  | 3000 |
| Units redeemed |  | (2870) | (1853) | (6735) |  |  | (58) | (2) | (2867) |
| Ending units |  | 3207 | 590 |  |  |  |  | 131 | 133 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RUF** | **RUF** | **RUGB** | **RUGB** | **RUTL** | **RUTL** | **RVARS** | **RVARS** |
|  | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  | 188 | 891 | 728 | 3386 | 2126 | 1897 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (641) | (382) | (14002) | (436) | (12309) | 9 | 1172 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (511) | (21) |  | (244) | 741 | (3726) | (704) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (1152) | (215) | (13111) | 48 | (8182) | (1591) | 2365 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (11900) | 817 | 13290 | 89816 | (208540) | 756 | (24609) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  |  | (147) | (179) | (1794) | (3462) | (178) | (233) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  | 2 | 1 | 1 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (11900) | 670 | 13111 | 88024 | (212001) | 579 | (24843) |
| **Net change in contract owners' equity** |  | (13052) | 455 |  | 88072 | (220183) | (1012) | (22478) |
| **Contract owners' equity at beginning of period** |  | 13052 |  |  |  | 220183 | 43073 | 65551 |
| **Contract owners' equity at end of period** | $— |  | 455 |  | 88072 |  | 42061 | 43073 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |
| Beginning units |  | 10085 |  |  |  | 6662 | 3456 | 5489 |
| Units purchased |  |  | 13335 | 23906 | 6615 | 1736 | 61 |  |
| Units redeemed |  | (10085) | (13298) | (23906) | (4221) | (8398) | (14) | (2033) |
| Ending units |  |  | 37 |  | 2394 |  | 3503 | 3456 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RVCMD** | **RVCMD** | **RVCMD** | **RVF** | **RVF** | **RVISC** | **RVISC** | **RVLCG** | **RVLCG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 725 | 25345 |  |  |  |  | 97 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (11136) | (29164) | 165298 | 93521 |  | (2562) | 261 | 2859 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 20772 | (13702) | (53664) | 67151 |  |  | 34727 | 8154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  | 676 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 10361 | (17521) | 111634 | 160672 |  | (2562) | 35761 | 11013 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  | (2) |  |  |  | 102429 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (109107) | (29944) | (3590) | 122041 |  | 2562 |  | 22007 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (46053) | (49472) | (18137) | (27314) |  |  | (1943) | (465) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 2 |  | (1) | 1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (155158) | (79416) | (21728) | 94726 |  | 2562 | (1943) | 123971 |
| **Net change in contract owners' equity** |  | (144797) | (96937) | 89906 | 255398 |  |  | 33818 | 134984 |
| **Contract owners' equity at beginning of period** |  | 163257 | 260194 | 340852 | 85454 |  |  | 135679 | 695 |
| **Contract owners' equity at end of period** | $— | 18460 | 163257 | 430758 | 340852 |  |  | 169497 | 135679 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 46868 | 70037 | 881 | 477 |  |  | 3077 | 17 |
| Units purchased |  | 4967 | 26221 | 2885 | 4798 |  | 124376 |  | 4731 |
| Units redeemed |  | (46941) | (49390) | (2981) | (4394) |  | (124376) | (43) | (1671) |
| Ending units |  | 4894 | 46868 | 785 | 881 |  |  | 3034 | 3077 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RVLCV** | **RVLCV** | **RVLCV** | **RVLDD** | **RVLDD** | **RVMCG** | **RVMCG** | **RVMCV** | **RVMCV** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 4432 | 5016 |  | 119 |  |  | 22 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 983 | (24218) | 10419 | (83) | 2634 | (597) | 5723 | (45018) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 28107 | 50008 | (8177) | 8177 | (27669) | 3438 | (3545) | 11218 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  | 2 |  | 1384 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 33522 | 30806 | 2242 | 8213 | (25033) | 2841 | 3584 | (33800) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 230466 |  |  | 3230 |  | 27918 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  |  | (73591) | (48520) | 38628 | 553894 | (197) | (30898) | (10653) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (17009) | (39492) | (81) | (483) | (1414) | (312) | (4453) | (5477) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | 1 |  |  | 1 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (17009) | 117383 | (48600) | 38145 | 555710 | (508) | (7433) | (16129) |
| **Net change in contract owners' equity** |  | 16513 | 148189 | (46358) | 46358 | 530677 | 2333 | (3849) | (49929) |
| **Contract owners' equity at beginning of period** |  | 313463 | 165274 | 46358 |  | 19706 | 17373 | 33985 | 83914 |
| **Contract owners' equity at end of period** | $— | 329976 | 313463 |  | 46358 | 550383 | 19706 | 30136 | 33985 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 8942 | 5011 | 546 |  | 474 | 479 | 743 | 2346 |
| Units purchased |  |  | 8137 |  | 691 | 11175 | 694 | 6488 | 16909 |
| Units redeemed |  | (450) | (4206) | (546) | (145) | (252) | (699) | (6600) | (18512) |
| Ending units |  | 8492 | 8942 |  | 546 | 11397 | 474 | 631 | 743 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RVMFU** | **RVMFU** | **RVMFU** | **RVSCG** | **RVSCG** | **RVSCV** | **RVSCV** | **RVSDL** | **RVSDL** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 1979 | 14494 |  | 15 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1426 | (18203) | 343 | 10 | 1 | (1298) | 34 | (268) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (3465) | 11518 | 2573 | 5261 | 1436 | 7652 | 492 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 1058 | 9221 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 998 | 17030 | 2916 | 5286 | 1437 | 6354 | 526 | (268) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 38 | (87) |  | 15364 |  | 30729 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (15277) | (403398) | 11547 | 21348 |  | 1319 | 9028 | 327 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (822) | (20869) | (2015) | (427) | (4) | (32) | (1) | (58) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (2) | (1) | 1 | 1 | (1) |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (16063) | (424355) | 9533 | 36286 | (5) | 32016 | 9027 | 268 |
| **Net change in contract owners' equity** |  | (15065) | (407325) | 12449 | 41572 | 1432 | 38370 | 9553 |  |
| **Contract owners' equity at beginning of period** |  | 86878 | 494203 | 41572 |  | 38370 |  |  |  |
| **Contract owners' equity at end of period** | $— | 71813 | 86878 | 54021 | 41572 | 39802 | 38370 | 9553 |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 9736 | 57489 | 1190 |  | 1218 |  |  |  |
| Units purchased |  | 5844 | 13945 | 297 | 1205 |  | 1570 | 876 | 1146 |
| Units redeemed |  | (7562) | (61698) | (57) | (15) |  | (352) | (71) | (1146) |
| Ending units |  | 8018 | 9736 | 1430 | 1190 | 1218 | 1218 | 805 |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **RVWDL** | **RVWDL** | **RVWDL** | **SBLP** | **SBLP** | **ACC1** | **ACC1** | **ACGI** | **ACGI** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  |  |  | 16164 | 10212 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (481) | (166) | 6228 | 13308 | 1949 | 13240 |  | (5828) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  |  |  |  |  | 42615 | 6692 |  | 4532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  | 65350 | 62863 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (481) | (166) | 6228 | 13308 | 126078 | 93007 |  | (1296) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  | 51337 | 182263 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 528 | 211 | (6228) | (13284) | (12989) | (679954) |  | (28772) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (47) | (45) |  | (24) | (7893) | (8167) |  | (1413) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  |  | (1) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 481 | 166 | (6228) | (13308) | 30454 | (505858) |  | (30185) |
| **Net change in contract owners' equity** |  |  |  |  |  | 156532 | (412851) |  | (31481) |
| **Contract owners' equity at beginning of period** |  |  |  |  |  | 816350 | 1229201 |  | 31481 |
| **Contract owners' equity at end of period** | $— |  |  |  |  | 972882 | 816350 |  |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  |  |  |  |  | 20760 | 35122 |  | 1008 |
| Units purchased |  | 4363 | 2483 | 112519 | 181702 | 2503 | 12488 |  |  |
| Units redeemed |  | (4363) | (2483) | (112519) | (181702) | (1782) | (26850) |  | (1008) |
| Ending units |  |  |  |  |  | 21481 | 20760 |  |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **AVHY1** | **AVHY1** | **AVHY1** | **AVIE** | **AVIE** | **IVBRA2** | **IVBRA2** | **IVCPB2** | **IVCPB2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 2113 | 2354 | 2129 | 234 | 57717 |  | 233 | 1904 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (946) | 16734 | (165) | (2507) | (22670) | (19618) | 2330 | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (627) | 851 | (1490) | 22701 | 12 | 65316 | 2107 | 2523 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 633 | 88 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 540 | 19939 | 1107 | 20516 | 35059 | 45698 | 4670 | 4395 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 34948 |  | 1 | 11692 | 37590 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 2239 | (17183) |  | 1800 | 75228 | 469825 | (83519) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (2040) | (12631) | (11171) | (15839) | (124079) | (3790) | (516) | (657) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  | (1) | 1 | 1 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 199 | 5134 | (11171) | (14039) | (37158) | 503626 | (84035) | (658) |
| **Net change in contract owners' equity** |  | 739 | 25073 | (10064) | 6477 | (2099) | 549324 | (79365) | 3737 |
| **Contract owners' equity at beginning of period** |  | 37290 | 12217 | 125090 | 118613 | 934338 | 385014 | 79365 | 75628 |
| **Contract owners' equity at end of period** | $— | 38029 | 37290 | 115026 | 125090 | 932239 | 934338 |  | 79365 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1420 | 513 | 7256 | 8129 | 61176 | 26822 | 7921 | 7990 |
| Units purchased |  | 39635 | 137309 |  | 115 | 9461 | 38622 |  |  |
| Units redeemed |  | (39710) | (136402) | (625) | (988) | (11697) | (4268) | (7921) | (69) |
| Ending units |  | 1345 | 1420 | 6631 | 7256 | 58940 | 61176 |  | 7921 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **IVCPBI** | **IVCPBI** | **IVCPBI** | **IVDDI** | **IVDDI** | **IVGMMI** | **IVGMMI** | **IVGS1** | **IVGS1** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 96012 | 46767 | 7587 | 7786 | 469970 | 468817 | 4032 | 3117 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (58402) | (53016) | (14589) | (2104) |  |  | (23) | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 24984 | 117371 | 41513 | (4489) |  |  | (1337) | 4141 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 16148 | 32067 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 62594 | 111122 | 50659 | 33260 | 469970 | 468817 | 2672 | 7242 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 924952 | 67392 | 24242 | 2639 | 6278237 | 3378115 |  | 1670 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 677125 | 76210 | (71375) | (88883) | (5130965) | (5053471) | 1025 | 60000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (74523) | (257779) | (2984) | (2833) | (610935) | (1130400) | (293) | (158) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 2 |  | (1) | 2 | 2 | (2) | (1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 1527556 | (114177) | (50118) | (89075) | 536339 | (2805758) | 731 | 61513 |
| **Net change in contract owners' equity** |  | 1590150 | (3055) | 541 | (55815) | 1006309 | (2336941) | 3403 | 68755 |
| **Contract owners' equity at beginning of period** |  | 1854623 | 1857678 | 412518 | 468333 | 8576498 | 10913439 | 154247 | 85492 |
| **Contract owners' equity at end of period** | $— | 3444773 | 1854623 | 413059 | 412518 | 9582807 | 8576498 | 157650 | 154247 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 158789 | 168815 | 13567 | 16796 | 771075 | 1028871 | 10657 | 6179 |
| Units purchased |  | 159151 | 38335 | 1279 | 841 | 4074371 | 5681483 | 71 | 4489 |
| Units redeemed |  | (31760) | (48361) | (2847) | (4070) | (4024761) | (5939279) | (20) | (11) |
| Ending units |  | 286180 | 158789 | 11999 | 13567 | 820685 | 771075 | 10708 | 10657 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **IVHS** | **IVHS** | **IVHS** | **IVKEI1** | **IVKEI1** | **IVMCC2** | **IVMCC2** | **IVRE** | **IVRE** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  | 19590 | 20227 | 125 | 32 | 3262 | 2173 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 2601 | 1250 | (6565) | (1489) | (974) | (181) | (4564) | (6507) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (14784) | 669 | 73055 | 26731 | 15060 | 8755 | (2029) | 17368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 42041 | 52969 | 2501 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (12183) | 1919 | 128121 | 98438 | 16712 | 8606 | (3331) | 13034 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 88671 | 5356 | 44715 | (2) |  | 35161 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 72125 | (68243) | (40396) | 94013 | 14909 | 2953 | 93 | (5394) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1205) | (10884) | (83472) | (6358) | (17171) | (414) | (29344) | (9320) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (1) | 1 | 2 | (1) |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 159592 | (73772) | (79152) | 87655 | (2263) | 37700 | (29251) | (14715) |
| **Net change in contract owners' equity** |  | 147409 | (71853) | 48969 | 186093 | 14449 | 46306 | (32582) | (1681) |
| **Contract owners' equity at beginning of period** |  | 11361 | 83214 | 1064985 | 878892 | 90037 | 43731 | 155038 | 156719 |
| **Contract owners' equity at end of period** | $— | 158770 | 11361 | 1113954 | 1064985 | 104486 | 90037 | 122456 | 155038 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 260 | 1962 | 37111 | 33859 | 2584 | 1433 | 6878 | 7582 |
| Units purchased |  | 4960 | 153 | 2991 | 3726 | 412 | 1164 | 1193 | 111 |
| Units redeemed |  | (1732) | (1855) | (5481) | (474) | (428) | (13) | (2539) | (815) |
| Ending units |  | 3488 | 260 | 34621 | 37111 | 2568 | 2584 | 5532 | 6878 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **IVT** | **IVT** | **IVT** | **OVGIS** | **OVGIS** | **OVGSS** | **OVGSS** | **OVIGS** | **OVIGS** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  |  | 28 |  |  | 387 | 328 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 183760 | (60242) | 21 | 1182 | 1124 | (5704) | (4960) | (908) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 47780 | 239419 | 1279 | 472 | 4048 | 26171 | (3072) | 20862 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 44807 |  | 1340 | 395 | 3175 | 6186 | 6883 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 276347 | 179177 | 2640 | 2077 | 8347 | 26653 | (762) | 20282 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 66866 | (2) |  | 5190 |  | (4) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 195199 | 384674 |  | 4230 | (9019) | (11011) | (31652) | (2028) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (16542) | (8237) | (142) | (151) | (3178) | (22296) | (4216) | (1199) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | 2 | 1 |  |  | (2) | (1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 245522 | 376437 | (141) | 9269 | (12197) | (33313) | (35869) | (3226) |
| **Net change in contract owners' equity** |  | 521869 | 555614 | 2499 | 11346 | (3850) | (6660) | (36631) | 17056 |
| **Contract owners' equity at beginning of period** |  | 850852 | 295238 | 11346 |  | 57378 | 64038 | 117241 | 100185 |
| **Contract owners' equity at end of period** | $— | 1372721 | 850852 | 13845 | 11346 | 53528 | 57378 | 80610 | 117241 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 13862 | 7068 | 279 |  | 1688 | 2533 | 5338 | 5503 |
| Units purchased |  | 12438 | 10780 |  | 819 |  | 9485 | 34 | 98 |
| Units redeemed |  | (9644) | (3986) | (3) | (540) | (328) | (10330) | (1634) | (263) |
| Ending units |  | 16656 | 13862 | 276 | 279 | 1360 | 1688 | 3738 | 5338 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **WRASP** | **WRASP** | **WRASP** | **WRBDP** | **WRBDP** | **WRBP** | **WRBP** | **WRENG** | **WRENG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 6039 | 758 | 68788 | 36886 | 461 | 230 |  | 368 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 3520 | (14) | (22129) | (4931) | (327) | (428) | 380 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 2095 | 2995 | 12796 | 65716 | 4923 | 4738 | 520 | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 12089 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 23743 | 3739 | 59455 | 97671 | 5057 | 4540 | 900 | 458 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 26880 |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 397814 | 17415 | 1009011 | 70173 |  |  | (12206) | 289 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (4774) | (49) | (44869) | (17644) | (673) | (554) | (15) | (31) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | 1 |  |  |  |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 393040 | 17366 | 991023 | 52529 | (673) | (554) | (12221) | 259 |
| **Net change in contract owners' equity** |  | 416783 | 21105 | 1050478 | 150200 | 4384 | 3986 | (11321) | 717 |
| **Contract owners' equity at beginning of period** |  | 37287 | 16182 | 1480307 | 1330107 | 32658 | 28672 | 11321 | 10604 |
| **Contract owners' equity at end of period** | $— | 454070 | 37287 | 2530785 | 1480307 | 37042 | 32658 |  | 11321 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1769 | 875 | 102537 | 98742 | 1049 | 1068 | 968 | 943 |
| Units purchased |  | 18616 | 901 | 75095 | 5077 |  |  |  | 227 |
| Units redeemed |  | (1229) | (7) | (6518) | (1282) | (20) | (19) | (968) | (202) |
| Ending units |  | 19156 | 1769 | 171114 | 102537 | 1029 | 1049 |  | 968 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **WRGNR** | **WRGNR** | **WRGNR** | **WRHIP** | **WRHIP** | **WRLTBP** | **WRLTBP** | **WRMCG** | **WRMCG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 6095 | 6313 | 1632 | 103808 | 20230 | 5865 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (22526) | (10280) | 16860 | (65149) | 2973 | (13605) | (77025) | (87229) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (1573) | 2278 | (1839) | 592 | (4221) | 23680 | 68061 | 134421 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  | 22377 | 53504 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (18004) | (1689) | 16653 | 39251 | 18982 | 15940 | 13413 | 100696 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 835 |  | (1) | 63609 | (1) | 86341 | 47790 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (292975) | 102142 | (15132) | 18716 | (79061) | 10018 | (65002) | 167778 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1072) | (6832) | (528) | (68461) | (4713) | (3367) | (11058) | (16875) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | 1 | 1 |  | 2 | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (294047) | 96145 | (15659) | (49745) | (20165) | 6652 | 10282 | 198693 |
| **Net change in contract owners' equity** |  | (312051) | 94456 | 994 | (10494) | (1183) | 22592 | 23695 | 299389 |
| **Contract owners' equity at beginning of period** |  | 421306 | 326850 | 24659 | 35153 | 354982 | 332390 | 672287 | 372898 |
| **Contract owners' equity at end of period** | $— | 109255 | 421306 | 25653 | 24659 | 353799 | 354982 | 695982 | 672287 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 45716 | 36029 | 1054 | 1679 | 31047 | 30477 | 12270 | 8141 |
| Units purchased |  | 2148 | 26700 | 178902 | 210054 | 7619 | 20252 | 2277 | 6264 |
| Units redeemed |  | (35939) | (17013) | (178924) | (210679) | (9008) | (19682) | (2119) | (2135) |
| Ending units |  | 11925 | 45716 | 1032 | 1054 | 29658 | 31047 | 12428 | 12270 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **WRSTP** | **WRSTP** | **WRSTP** | **WRVP** | **WRVP** | **JABIN** | **JABIN** | **JAEI** | **JAEI** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  | 129 | 297 | 69793 | 62456 | 10470 | 1861 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1046 | (15092) | (799) | (2642) | 97720 | 5435 | 52284 | (19136) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 24519 | 29847 | 409 | 663 | 285019 | 354533 | 64368 | 123133 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 4812 | 3332 | 902 | 2876 |  |  | 54431 | 70618 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 30377 | 18087 | 641 | 1194 | 452532 | 422424 | 181553 | 176476 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  | 625590 | 27024 | 303273 | 183 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 42899 | (6203) |  | (5257) | (294426) | (13778) | 77727 | 134551 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1228) | (884) | (6412) | (8932) | (161868) | (33892) | (51203) | (37103) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (1) |  |  | 1 | (2) |  | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 41671 | (7088) | (6412) | (14189) | 169297 | (20648) | 329797 | 97628 |
| **Net change in contract owners' equity** |  | 72048 | 10999 | (5771) | (12995) | 621829 | 401776 | 511350 | 274104 |
| **Contract owners' equity at beginning of period** |  | 56715 | 45716 | 10381 | 23376 | 3150458 | 2748682 | 1186138 | 912034 |
| **Contract owners' equity at end of period** | $— | 128763 | 56715 | 4610 | 10381 | 3772287 | 3150458 | 1697488 | 1186138 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 890 | 997 | 270 | 658 | 87358 | 87965 | 18743 | 17016 |
| Units purchased |  | 1256 | 186 |  |  | 17753 | 1255 | 10549 | 3764 |
| Units redeemed |  | (599) | (293) | (157) | (388) | (14490) | (1862) | (6090) | (2037) |
| Ending units |  | 1547 | 890 | 113 | 270 | 90621 | 87358 | 23202 | 18743 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **JAFBS** | **JAFBS** | **JAFBS** | **JAFRIN** | **JAFRIN** | **JAGRIN** | **JAGRIN** | **JAGSEI** | **JAGSEI** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 5547 | 4070 | 1775 | 2609 | 4129 | 804 | 3 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (90) | (44) | (7531) | (72062) | 21605 | (140) | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (3205) | 1771 | 314318 | 609208 | 35204 | 16328 | 153 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 92644 |  | 18417 | 2244 | 10 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 2252 | 5797 | 401206 | 539755 | 79355 | 19236 | 167 |  |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | (1) | 22319 |  | 79803 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 14882 | 1556 |  | (472466) | 244889 | 23391 | 1357 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (603) | (281) | (87464) | (33721) | (10021) | (4278) | (15) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | 2 |  |  |  |  | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 14279 | 1276 | (65145) | (506187) | 314671 | 19113 | 1343 |  |
| **Net change in contract owners' equity** |  | 16531 | 7073 | 336061 | 33568 | 394026 | 38349 | 1510 |  |
| **Contract owners' equity at beginning of period** |  | 115273 | 108200 | 1440996 | 1407428 | 105768 | 67419 |  |  |
| **Contract owners' equity at end of period** | $— | 131804 | 115273 | 1777057 | 1440996 | 499794 | 105768 | 1510 |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 9389 | 9279 | 23445 | 32050 | 3100 | 2505 |  |  |
| Units purchased |  | 1223 | 136 | 928 | 1862 | 12035 | 950 | 123 |  |
| Units redeemed |  | (49) | (26) | (1867) | (10467) | (3281) | (355) | (2) |  |
| Ending units |  | 10563 | 9389 | 22506 | 23445 | 11854 | 3100 | 121 |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **JAIG** | **JAIG** | **JAIG** | **JARIN** | **JARIN** | **JMCVIN** | **JMCVIN** | **JHEVTN** | **JHEVTN** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 13840 | 9704 | 142 | 248 | 5155 | 4931 | 53929 | 15091 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 12245 | 15652 | 18688 | 183 | 5721 | (24354) | 28939 | 1507 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (14658) | 14832 | 77442 | 60535 | 16680 | 53278 | (116624) | 105074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 13501 |  | 23277 | 13141 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 11427 | 40188 | 109773 | 60966 | 50833 | 46996 | (33756) | 121672 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 1 |  | 25858 | 1 | 599 | 1518 | 104703 | 97398 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 705152 | 149017 | 171141 |  | 416669 | (145395) | 46184 | 255308 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (60418) | (125472) | (7227) | (1642) | (11815) | (21552) | (22552) | (31038) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (2) | 1 |  | (2) | (1) |  | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 644733 | 23546 | 189772 | (1643) | 405452 | (165429) | 128334 | 321667 |
| **Net change in contract owners' equity** |  | 656160 | 63734 | 299545 | 59323 | 456285 | (118433) | 94578 | 443339 |
| **Contract owners' equity at beginning of period** |  | 329442 | 265708 | 201287 | 141964 | 425547 | 543980 | 1152587 | 709248 |
| **Contract owners' equity at end of period** | $— | 985602 | 329442 | 500832 | 201287 | 881832 | 425547 | 1247165 | 1152587 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 16183 | 14472 | 3731 | 3768 | 13961 | 19881 | 70643 | 50007 |
|  Units purchased |  | 35215 | 33548 | 4745 |  | 12618 | 2510 | 26293 | 40790 |
|  Units redeemed |  | (5652) | (31837) | (1615) | (37) | (1000) | (8430) | (18506) | (20154) |
|  Ending units |  | 45746 | 16183 | 6861 | 3731 | 25579 | 13961 | 78430 | 70643 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **LZREMS** | **LZREMS** | **LZREMS** | **LZRIES** | **LZRIES** | **LZRUSM** | **LZRUSM** | **LPVCAI** | **LPVCAI** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 3685 | 5972 | 3487 | 2811 |  |  | 27 | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1306 | (1623) | 17740 | (2779) | (7182) | (2922) | (74) | (32287) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 4678 | 20481 | (1951) | 34692 | 16729 | 18765 | (3995) | 35260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 282 |  | 3166 |  | 7085 | 2169 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 9669 | 24830 | 19558 | 34724 | 12713 | 15843 | 3043 | 5207 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 93567 |  | 24 | 61 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (26809) | (12904) | (211377) | (11937) | (87656) | 3091 |  | (27910) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1110) | (3617) | (9842) | (16991) | (14354) | (12135) | (168) | (1337) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | (1) | (1) | 2 | (1) | (2) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (27919) | (16521) | (127653) | (28929) | (101984) | (8984) | (170) | (29246) |
| **Net change in contract owners' equity** |  | (18250) | 8309 | (108095) | 5795 | (89271) | 6859 | 2873 | (24039) |
| **Contract owners' equity at beginning of period** |  | 126863 | 118554 | 226047 | 220252 | 169533 | 162674 | 23806 | 47845 |
| **Contract owners' equity at end of period** | $— | 108613 | 126863 | 117952 | 226047 | 80262 | 169533 | 26679 | 23806 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 4071 | 4651 | 9793 | 11057 | 4499 | 4749 | 720 | 1799 |
|  Units purchased |  |  |  | 4056 | 1564 | 182 | 96 |  |  |
|  Units redeemed |  | (827) | (580) | (9011) | (2828) | (2764) | (346) | (5) | (1079) |
|  Ending units |  | 3244 | 4071 | 4838 | 9793 | 1917 | 4499 | 715 | 720 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **LPVCII** | **LPVCII** | **LPVCII** | **LVCLGI** | **LVCLGI** | **SBVHY** | **SBVHY** | **SBVSG2** | **SBVSG2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 8105 | 9995 |  |  | 5314 | 4201 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (13716) | (5222) | 292050 | 2729 | 4 | 1011 | (270384) | (17816) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 29411 | (8032) | (70791) | 234169 | 206 | 5312 | 261733 | 131912 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 67558 | 67658 | 52715 | 6641 |  |  | 42247 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 91358 | 64399 | 273974 | 243539 | 5524 | 10524 | 33596 | 114096 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 13281 |  | 221678 | 10401 |  | 10311 | 173702 | 45103 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 59019 | (33085) | (162525) | 155047 |  | (2863) | (496174) | 270857 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (426477) | (3159) | (468474) | (4771) | (103) | (98) | (38668) | (30725) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | (1) | 2 | 1 | 1 | 1 | 1 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (354178) | (36245) | (409319) | 160678 | (102) | 7351 | (361139) | 285234 |
| **Net change in contract owners' equity** |  | (262820) | 28154 | (135345) | 404217 | 5422 | 17875 | (327543) | 399330 |
| **Contract owners' equity at beginning of period** |  | 490210 | 462056 | 924718 | 520501 | 78288 | 60413 | 1506416 | 1107086 |
| **Contract owners' equity at end of period** | $— | 227390 | 490210 | 789373 | 924718 | 83710 | 78288 | 1178873 | 1506416 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 13042 | 14038 | 16432 | 13321 | 3169 | 2696 | 48770 | 38753 |
|  Units purchased |  | 3215 | 1954 | 4769 | 3473 |  | 42890 | 8854 | 12349 |
|  Units redeemed |  | (11079) | (2950) | (10232) | (362) | (4) | (42417) | (21009) | (2332) |
|  Ending units |  | 5178 | 13042 | 10969 | 16432 | 3165 | 3169 | 36615 | 48770 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **LACB2** | **LACB2** | **LACB2** | **LACDV2** | **LACDV2** | **LACI2** | **LACI2** | **LACIPS** | **LACIPS** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 14517 |  | 286 |  | 3602 |  | 6379 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 4161 |  | 273 |  | 125 |  | 4820 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 63832 |  | (61912) |  | (2387) |  | (449) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 82510 |  | (61353) |  | 1340 |  | 10750 |  |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 1 |  | 7608 |  | (1521) |  | 2103 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 976809 |  | 84190 |  | 531037 |  | 261845 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (87000) |  | (490) |  | (451) |  | (82675) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 889809 |  | 91308 |  | 529065 |  | 181273 |  |
| **Net change in contract owners' equity** |  | 972319 |  | 29955 |  | 530405 |  | 192023 |  |
| **Contract owners' equity at beginning of period** |  |  |  |  |  |  |  |  |  |
| **Contract owners' equity at end of period** | $— | 972319 |  | 29955 |  | 530405 |  | 192023 |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  |  |  |  |  |  |  |  |  |
|  Units purchased |  | 97713 |  | 20807 |  | 53500 |  | 34746 |  |
|  Units redeemed |  | (8316) |  | (17997) |  | (579) |  | (16157) |  |
|  Ending units |  | 89397 |  | 2810 |  | 52921 |  | 18589 |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **LACLV2** | **LACLV2** | **LACLV2** | **LACU2** | **LACU2** | **LACV2** | **LACV2** | **LOVBD** | **LOVBD** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 383 |  |  |  | 96 |  | 22458 | 39110 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 2017 |  | 516 |  | (1) |  | 35327 | (37995) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 649 |  | 99506 |  | 170 |  | (30227) | 57460 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 145 |  | 8503 |  | 39 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 3194 |  | 108525 |  | 304 |  | 27558 | 58575 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  | 6918 |  | 34651 | 3615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 16288 |  | 668745 |  | (2877) |  | (421080) | (221190) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (302) |  | (4271) |  | (53) |  | (15536) | (143640) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) |  | 1 |  | 1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 15985 |  | 664475 |  | 3989 |  | (401965) | (361215) |
| **Net change in contract owners' equity** |  | 19179 |  | 773000 |  | 4293 |  | (374407) | (302640) |
| **Contract owners' equity at beginning of period** |  |  |  |  |  |  |  | 778149 | 1080789 |
| **Contract owners' equity at end of period** | $— | 19179 |  | 773000 |  | 4293 |  | 403742 | 778149 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  |  |  |  |  |  |  | 35029 | 51841 |
|  Units purchased |  | 4012 |  | 65105 |  | 1962 |  | 96848 | 140951 |
|  Units redeemed |  | (2212) |  | (376) |  | (1559) |  | (114846) | (157763) |
|  Ending units |  | 1800 |  | 64729 |  | 403 |  | 17031 | 35029 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **LOVCDG** | **LOVCDG** | **LOVCDG** | **MEGSS** | **MEGSS** | **MNDSC** | **MNDSC** | **MVFSC** | **MVFSC** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 3325 | 3734 |  |  |  |  | 3479 | 2930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1877 | (50) | 32104 | (911) | (78836) | (117920) | (1555) | (344) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 71903 | 37639 | 46154 | 63790 | 90750 | 176930 | 5461 | (1613) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 34006 | 26074 | 36666 | 26537 |  |  | 18483 | 14688 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 111111 | 67397 | 114924 | 89416 | 11914 | 59010 | 25868 | 15661 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 16751 |  | 8998 | (1) | 26952 | 23708 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 2206 | 12757 | (17980) | 35413 | (242859) | (58578) | (15091) | 5898 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (3726) | (2295) | (38753) | (3230) | (6185) | (32239) | (6440) | (2664) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | 1 | (1) | 1 | 1 | (1) | 1 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 15232 | 10463 | (47736) | 32183 | (222091) | (67110) | (21530) | 3232 |
| **Net change in contract owners' equity** |  | 126343 | 77860 | 67188 | 121599 | (210177) | (8100) | 4338 | 18893 |
| **Contract owners' equity at beginning of period** |  | 481207 | 403347 | 354723 | 233124 | 401882 | 409982 | 226397 | 207504 |
| **Contract owners' equity at end of period** | $— | 607550 | 481207 | 421911 | 354723 | 191705 | 401882 | 230735 | 226397 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 9591 | 9351 | 12680 | 11293 | 30057 | 35033 | 11669 | 11512 |
|  Units purchased |  | 497 | 298 | 3877 | 1617 | 3044 | 2596 |  | 311 |
|  Units redeemed |  | (174) | (58) | (5057) | (230) | (19630) | (7572) | (989) | (154) |
|  Ending units |  | 9914 | 9591 | 11500 | 12680 | 13471 | 30057 | 10680 | 11669 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **MVIGSC** | **MVIGSC** | **MVIGSC** | **MGRFV** | **MGRFV** | **DTRTFY** | **DTRTFY** | **GEM2** | **GEM2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 2713 | 2528 | 7989 | 9395 | 122320 | 35246 | 389 | 1154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 11451 | 109 | (5328) | 1080 | (11419) | (20703) | 4771 | (2694) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 7828 | 6452 | 8965 | (23657) | (67096) | 42439 | 3276 | 672 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 1065 | 8868 | 5276 | 36734 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 23057 | 17957 | 16902 | 23552 | 43805 | 56982 | 8436 | (868) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 86048 | 150334 |  |  | 10515 | 7000 |  | 5190 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (120711) | 105880 | 14500 | (12095) | 199801 | 60159 | (63328) | 19886 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (3980) | (1087) | (88956) | (36483) | (21168) | (60697) | (2374) | (1659) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | 1 | (1) |  | 1 | (1) | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (38644) | 255128 | (74457) | (48578) | 189149 | 6461 | (65701) | 23418 |
| **Net change in contract owners' equity** |  | (15587) | 273085 | (57555) | (25026) | 232954 | 63443 | (57265) | 22550 |
| **Contract owners' equity at beginning of period** |  | 344150 | 71065 | 548591 | 573617 | 1053135 | 989692 | 92612 | 70062 |
| **Contract owners' equity at end of period** | $— | 328563 | 344150 | 491036 | 548591 | 1286089 | 1053135 | 35347 | 92612 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 30562 | 7219 | 36001 | 39278 | 103135 | 102700 | 9829 | 7723 |
|  Units purchased |  | 8414 | 23444 | 1504 | 4272 | 26220 | 15487 | 2151 | 12097 |
|  Units redeemed |  | (12149) | (101) | (6352) | (7549) | (7819) | (15052) | (8441) | (9991) |
|  Ending units |  | 26827 | 30562 | 31153 | 36001 | 121536 | 103135 | 3539 | 9829 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **GIG** | **GIG** | **GIG** | **GVEXD** | **GVEXD** | **GVIXY** | **GVIXY** | **MCIFD** | **MCIFD** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 6456 | 1179 | 146906 | 110829 | 79343 | 36239 | 28344 | 18994 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 936 | 45 | 384688 | (3452601) | (793) | 51926 | (91248) | (10231) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (2758) | 3682 | 2017304 | 5135247 | (35240) | 217846 | 194344 | 118564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 9064 | 10451 |  |  | 108965 | 68405 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 4634 | 4906 | 2557962 | 1803926 | 43310 | 306011 | 240405 | 195732 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 190439 |  | 984428 | 721289 | 205291 | 230395 | 462767 | 192942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 8984 | 52417 | 2488197 | (208915) | 241791 | (780431) | 165503 | 174422 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (5281) | (1377) | (129700) | (243013) | (20189) | (80438) | (98878) | (35113) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | 1 | (1) | (1) |  | (1) | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 194142 | 51041 | 3342924 | 269360 | 426893 | (630475) | 529391 | 332251 |
| **Net change in contract owners' equity** |  | 198776 | 55947 | 5900886 | 2073286 | 470203 | (324464) | 769796 | 527983 |
| **Contract owners' equity at beginning of period** |  | 55947 |  | 9106037 | 7032751 | 1645127 | 1969591 | 1610447 | 1082464 |
| **Contract owners' equity at end of period** | $— | 254723 | 55947 | 15006923 | 9106037 | 2115330 | 1645127 | 2380243 | 1610447 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 5053 |  | 303558 | 295097 | 111526 | 157037 | 69315 | 54109 |
|  Units purchased |  | 16076 | 5185 | 153796 | 151247 | 36225 | 33232 | 36340 | 21710 |
|  Units redeemed |  | (461) | (132) | (56746) | (142786) | (8865) | (78743) | (15514) | (6504) |
|  Ending units |  | 20668 | 5053 | 400608 | 303558 | 138886 | 111526 | 90141 | 69315 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **MSBF** | **MSBF** | **MSBF** | **NVAMVX** | **NVAMVX** | **NVBXD** | **NVBXD** | **NVFIY** | **NVFIY** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 12428 | 1482 | 536 | 457 | 30808 | 21810 | 1326 | 937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (26) | (28) | 6 | 1 | (21132) | (7688) | (32) | (22) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (6467) | (1680) | 1365 | 879 | 99 | 23670 | (932) | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 1448 | 1969 | 1327 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 5935 | 1222 | 3876 | 2664 | 9775 | 37792 | 362 | 886 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  | 1 | 44136 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 168984 | 26527 |  | 22404 | 390874 | 231652 | 10954 | 32519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1902) | (814) | (51) | (33) | (84378) | (25835) | (1816) | (1732) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | (1) |  | (1) | (1) | (1) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 167082 | 25713 | (52) | 22371 | 306496 | 249952 | 9137 | 30788 |
| **Net change in contract owners' equity** |  | 173017 | 26935 | 3824 | 25035 | 316271 | 287744 | 9499 | 31674 |
| **Contract owners' equity at beginning of period** |  | 26935 |  | 25035 |  | 798942 | 511198 | 31674 |  |
| **Contract owners' equity at end of period** | $— | 199952 | 26935 | 28859 | 25035 | 1115213 | 798942 | 41173 | 31674 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 2527 |  | 2323 |  | 69831 | 47048 | 3104 |  |
|  Units purchased |  | 14641 | 2605 |  | 2326 | 42340 | 31634 | 1058 | 3281 |
|  Units redeemed |  | (168) | (78) | (4) | (3) | (15795) | (8851) | (181) | (177) |
|  Ending units |  | 17000 | 2527 | 2319 | 2323 | 96376 | 69831 | 3981 | 3104 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **NVGEY** | **NVGEY** | **NVGEY** | **NVLCPY** | **NVLCPY** | **NVMIVX** | **NVMIVX** | **NVMLG1** | **NVMLG1** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 2804 | 1304 | 19419 | 2021 | 7020 | 3229 | 1846 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 320 | (2344) | 4508 | 1 | 2734 | (38) | 21583 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 11034 | 15197 | (22612) | 7592 | (3985) | 13685 | (1850) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  | 17735 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 14158 | 14157 | 1315 | 9614 | 5769 | 16876 | 39314 |  |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 114731 | 54247 |  |  | 178382 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 83213 | (16425) | 228243 | 170912 | (19284) | 4009 | 369998 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (4108) | (3492) | (1731) | (14) | (882) | (588) | (22071) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  | 1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 79105 | (19917) | 341243 | 225146 | (20166) | 3421 | 526309 |  |
| **Net change in contract owners' equity** |  | 93263 | (5760) | 342558 | 234760 | (14397) | 20297 | 565623 |  |
| **Contract owners' equity at beginning of period** |  | 75820 | 81580 | 234760 |  | 127015 | 106718 |  |  |
| **Contract owners' equity at end of period** | $— | 169083 | 75820 | 577318 | 234760 | 112618 | 127015 | 565623 |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 4844 | 6305 | 22495 |  | 8953 | 8702 |  |  |
|  Units purchased |  | 5370 |  | 48818 | 22496 | 28 | 598 | 64358 |  |
|  Units redeemed |  | (916) | (1461) | (17156) | (1) | (1380) | (347) | (27690) |  |
|  Ending units |  | 9298 | 4844 | 54157 | 22495 | 7601 | 8953 | 36668 |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **NVMMV1** | **NVMMV1** | **NVMMV1** | **NVNSR1** | **NVNSR1** | **NVSIXD** | **NVSIXD** | **SAMY** | **SAMY** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 1286 | 2451 |  | 81 | 49737 | 31808 | 620618 | 332273 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (6688) | (3450) | (2157) | (28) | (197902) | (37786) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 14419 | (7795) | 2002 | 1680 | 451873 | 391590 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 1989 | 22272 |  | 2829 | 41545 | 13879 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 11006 | 13478 | (155) | 4562 | 345253 | 399491 | 620618 | 332274 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 87 | 210 |  |  | 486930 | 62905 | 51001861 | 13869323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (53564) | (4693) | (26468) |  | 1008231 | (398602) | (42846187) | (12351934) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (519) | (869) |  | (201) | (384314) | (87831) | (1965182) | (696652) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | 1 | 1 | (1) | (2) |  | 1 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (53995) | (5351) | (26467) | (202) | 1110845 | (423528) | 6190493 | 820734 |
| **Net change in contract owners' equity** |  | (42989) | 8127 | (26622) | 4360 | 1456098 | (24037) | 6811111 | 1153008 |
| **Contract owners' equity at beginning of period** |  | 157857 | 149730 | 26622 | 22262 | 2566699 | 2590736 | 8916922 | 7763914 |
| **Contract owners' equity at end of period** | $— | 114868 | 157857 |  | 26622 | 4022797 | 2566699 | 15728033 | 8916922 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 10378 | 10712 | 1511 | 1523 | 133029 | 156563 | 825774 | 754253 |
|  Units purchased |  | 95 | 792 |  |  | 101022 | 25824 | 5279332 | 1918929 |
|  Units redeemed |  | (3515) | (1126) | (1511) | (12) | (46807) | (49358) | (4718463) | (1847408) |
|  Ending units |  | 6958 | 10378 |  | 1511 | 187244 | 133029 | 1386643 | 825774 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **TRF** | **TRF** | **TRF** | **AMCG** | **AMCG** | **AMRI** | **AMRI** | **AMTB** | **AMTB** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 3035 | 4805 |  |  | 44 | 51 | 23678 | 15795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 4522 | (1415) | 46303 | 362 | (40) | (18) | 1877 | (15163) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 24270 | (16516) | 8624 | 51089 | 302 | 226 | (2139) | 28068 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 10100 | 34291 | 21620 |  | 198 | 259 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 41927 | 21165 | 76547 | 51451 | 504 | 518 | 23416 | 28700 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 2114 |  |  | 6311 | 399 | 960 | 69659 | 58600 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (84047) | 284179 | 272635 | 33 |  |  | (71926) | (264524) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (7394) | (2699) | (374353) | (3432) | (64) | (51) | (20500) | (13886) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) |  |  |  | (1) | 1 | (2) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (89328) | 281480 | (101718) | 2912 | 334 | 910 | (22769) | (219812) |
| **Net change in contract owners' equity** |  | (47401) | 302645 | (25171) | 54363 | 838 | 1428 | 647 | (191112) |
| **Contract owners' equity at beginning of period** |  | 335175 | 32530 | 338182 | 283819 | 5425 | 3997 | 417105 | 608217 |
| **Contract owners' equity at end of period** | $— | 287774 | 335175 | 313011 | 338182 | 6263 | 5425 | 417752 | 417105 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 19502 | 2049 | 5825 | 5776 | 150 | 123 | 30686 | 47387 |
|  Units purchased |  | 2769 | 20189 | 3697 | 139 | 13 | 29 | 5814 | 8531 |
|  Units redeemed |  | (7539) | (2736) | (5175) | (90) | (3) | (2) | (7532) | (25232) |
|  Ending units |  | 14732 | 19502 | 4347 | 5825 | 160 | 150 | 28968 | 30686 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **NALG** | **NALG** | **NALG** | **NAMG** | **NAMG** | **NASCV** | **NASCV** | **NOTB2** | **NOTB2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  |  |  |  |  |  | 314 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  |  |  | 1633 |  | 10 |  | (52381) | (24253) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 6140 |  | 9 |  | 3803 |  | 51151 | 33594 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  | 537 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 6140 |  | 1642 |  | 3813 |  | (1230) | 10192 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | (1) |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 164529 |  | 48312 |  | 439624 |  | (106367) | 929 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (8) |  | (1862) |  | (92) |  | (12070) | (14245) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 |  | 1 |  | 1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 164521 |  | 46451 |  | 439533 |  | (118437) | (13316) |
| **Net change in contract owners' equity** |  | 170661 |  | 48093 |  | 443346 |  | (119667) | (3124) |
| **Contract owners' equity at beginning of period** |  |  |  |  |  |  |  | 119667 | 122791 |
| **Contract owners' equity at end of period** | $— | 170661 |  | 48093 |  | 443346 |  |  | 119667 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  |  |  |  |  |  |  | 7378 | 8255 |
|  Units purchased |  | 16453 |  | 35491 |  | 43973 |  |  | 125 |
|  Units redeemed |  | (1) |  | (30683) |  | (19) |  | (7378) | (1002) |
|  Ending units |  | 16452 |  | 4808 |  | 43954 |  |  | 7378 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **NOTBBA** | **NOTBBA** | **NOTBBA** | **NOTC2** | **NOTC2** | **NOVPDI** | **NOVPDI** | **NOVPM** | **NOVPM** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 372 | 137 | 2713 | 3059 | 124 | 125 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (2383) |  | 13 | (592) | (11) | (21) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 2333 | (33) | 2942 | 6432 | 822 | (229) | 1687 | 1211 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 815 | 3759 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 322 | 104 | 6483 | 12658 | 935 | (125) | 1687 | 1211 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  |  |  | 2 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 11 |  |  | (44395) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  |  |  | (691) | (927) | (174) | (130) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  |  | 1 |  | (3) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 11 |  | (691) | (45322) | (173) | (130) | (1) | 1 |
| **Net change in contract owners' equity** |  | 333 | 104 | 5792 | (32664) | 762 | (255) | 1686 | 1212 |
| **Contract owners' equity at beginning of period** |  | 6922 | 6818 | 108407 | 141071 | 7387 | 7642 | 7325 | 6113 |
| **Contract owners' equity at end of period** | $— | 7255 | 6922 | 114199 | 108407 | 8149 | 7387 | 9011 | 7325 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 721 | 721 | 6870 | 9761 | 466 | 474 | 304 | 304 |
|  Units purchased |  | 5584 |  |  |  |  | 2 |  |  |
|  Units redeemed |  | (5584) |  | (43) | (2891) | (10) | (10) |  |  |
|  Ending units |  | 721 | 721 | 6827 | 6870 | 456 | 466 | 304 | 304 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **MNCPS** | **MNCPS** | **MNCPS** | **PMUBAM** | **PMUBAM** | **PMVAAA** | **PMVAAA** | **PMVEBA** | **PMVEBA** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 9656 | 10677 | 3753 | 13140 | 6185 | 2721 | 14812 | 23542 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 15178 | (68756) | 9942 | (2383) | (7592) | (2710) | 5677 | 58860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (8061) | 106844 | (10906) | 13787 | 5021 | 6240 | (26105) | (540) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 4376 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 21149 | 48765 | 2789 | 24544 | 3614 | 6251 | (5616) | 81862 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 2219 | 5045 | 2 | 2679 |  |  | 3814 | 8337 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 100669 | (260101) | (351633) | 31955 | (12067) | 29423 | 44915 | (349508) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (27786) | (53111) | (1643) | (11439) | (1607) | (1583) | (12092) | (50953) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | 2 |  | (1) |  | (1) | 1 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 75101 | (308165) | (353274) | 23194 | (13674) | 27839 | 36638 | (392122) |
| **Net change in contract owners' equity** |  | 96250 | (259400) | (350485) | 47738 | (10060) | 34090 | 31022 | (310260) |
| **Contract owners' equity at beginning of period** |  | 304796 | 564196 | 381549 | 333811 | 99462 | 65372 | 275725 | 585985 |
| **Contract owners' equity at end of period** | $— | 401046 | 304796 | 31064 | 381549 | 89402 | 99462 | 306747 | 275725 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
|  Beginning units |  | 17259 | 34689 | 28735 | 26922 | 4338 | 3083 | 12545 | 29619 |
|  Units purchased |  | 15899 | 9048 | 1137 | 5301 | 1130 | 1895 | 197789 | 285806 |
|  Units redeemed |  | (12203) | (26478) | (27657) | (3488) | (1710) | (640) | (197355) | (302880) |
|  Ending units |  | 20955 | 17259 | 2215 | 28735 | 3758 | 4338 | 12979 | 12545 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PMVFBA** | **PMVFBA** | **PMVFBA** | **PMVFHA** | **PMVFHA** | **PMVGBA** | **PMVGBA** | **PMVHYA** | **PMVHYA** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 1651 | 2341 | 13582 | 11095 | 17825 | 9746 | 53555 | 30826 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (6167) | (444) | (15211) | (573) | (5179) | (8950) | 25930 | 39702 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 1659 | 3823 | 19854 | 18313 | (15977) | 17288 | (12534) | 9552 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  | 11285 |  | 4727 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (2857) | 5720 | 18225 | 40120 | (3331) | 22811 | 66951 | 80080 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | (1) |  | 118484 | 150 | 332180 | 26899 | 44183 | 5307 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (76340) | 6274 | (155360) | 121333 | 102484 | 12740 | 35443 | 387266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (2143) | (936) | (89469) | (3408) | (17643) | (47843) | (14563) | (99305) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | 1 | (2) |  |  | 1 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (78484) | 5338 | (126344) | 118073 | 417021 | (8204) | 65064 | 293267 |
| **Net change in contract owners' equity** |  | (81341) | 11058 | (108119) | 158193 | 413690 | 14607 | 132015 | 373347 |
| **Contract owners' equity at beginning of period** |  | 103763 | 92705 | 540789 | 382596 | 434504 | 419897 | 833900 | 460553 |
| **Contract owners' equity at end of period** | $— | 22422 | 103763 | 432670 | 540789 | 848194 | 434504 | 965915 | 833900 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 8076 | 7663 | 25683 | 19807 | 25434 | 25870 | 32923 | 20402 |
| Units purchased |  | 191 | 516 | 10440 | 6093 | 25534 | 2594 | 85977 | 159524 |
| Units redeemed |  | (6460) | (103) | (16639) | (217) | (1068) | (3030) | (83221) | (147003) |
| Ending units |  | 1807 | 8076 | 19484 | 25683 | 49900 | 25434 | 35679 | 32923 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PMVID** | **PMVID** | **PMVID** | **PMVLDA** | **PMVLDA** | **PMVLGA** | **PMVLGA** | **PMVRRA** | **PMVRRA** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 447570 | 293801 | 79869 | 67588 | 21888 | 11047 | 24536 | 52844 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (82230) | (11881) | (3840) | (18162) | (4124) | (38785) | (194238) | (10181) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 40557 | 176728 | 12825 | 43073 | (149646) | 61309 | 186946 | 20003 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 405897 | 458648 | 88854 | 92499 | (131882) | 33571 | 17244 | 62666 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 882778 | 240542 | 67591 | (183) | 3360 | 16096 | 6183 | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 1240309 | 854212 | 1720 | 48858 | 1285821 | (114778) | (936203) | 8275 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (248352) | (88482) | (32766) | (144161) | (148222) | (147835) | (58295) | (9163) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | 2 | 1 |  | (2) | (2) | 2 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 1874734 | 1006274 | 36546 | (95486) | 1140957 | (246519) | (988313) | (915) |
| **Net change in contract owners' equity** |  | 2280631 | 1464922 | 125400 | (2987) | 1009075 | (212948) | (971069) | 61751 |
| **Contract owners' equity at beginning of period** |  | 6501903 | 5036981 | 1914933 | 1917920 | 417206 | 630154 | 1790460 | 1728709 |
| **Contract owners' equity at end of period** | $— | 8782534 | 6501903 | 2040333 | 1914933 | 1426281 | 417206 | 819391 | 1790460 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 482526 | 404595 | 127523 | 134060 | 21430 | 33657 | 97318 | 97410 |
| Units purchased |  | 227130 | 90081 | 6602 | 14286 | 98027 | 22968 | 5416 | 3092 |
| Units redeemed |  | (91335) | (12150) | (4100) | (20823) | (41507) | (35195) | (59125) | (3184) |
| Ending units |  | 618321 | 482526 | 130025 | 127523 | 77950 | 21430 | 43609 | 97318 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PMVRSA** | **PMVRSA** | **PMVRSA** | **PMVTRA** | **PMVTRA** | **PVGCBA** | **PVGCBA** | **PVGMAA** | **PVGMAA** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 2275 | 12864 | 166113 | 120227 | 4465 | 263 | 5983 | 3385 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (6090) | (24275) | (117621) | (95936) | 177 | 1 | (4948) | (611) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 7337 | 5107 | 33162 | 174969 | 1236 | 1271 | 15947 | 14521 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 3522 | (6304) | 81654 | 199260 | 5878 | 1535 | 16982 | 17295 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 4572 | 91471 | 58459 | 116745 | 25362 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 11568 | 15839 | 1070026 | 276141 |  |  | (45) | 20159 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (3008) | (7907) | (53690) | (246577) | (4489) | (58) | (1609) | (1380) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | 2 | 1 | (3) | 1 | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 8560 | 12506 | 1107808 | 88020 | 112257 | 25303 | (1654) | 18779 |
| **Net change in contract owners' equity** |  | 12082 | 6202 | 1189462 | 287280 | 118135 | 26838 | 15328 | 36074 |
| **Contract owners' equity at beginning of period** |  | 73135 | 66933 | 3612147 | 3324867 | 27815 | 977 | 157369 | 121295 |
| **Contract owners' equity at end of period** | $— | 85217 | 73135 | 4801609 | 3612147 | 145950 | 27815 | 172697 | 157369 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 8133 | 6859 | 185430 | 180794 | 2349 | 89 | 9377 | 8169 |
| Units purchased |  | 12434 | 7904 | 77581 | 34128 | 9925 | 2265 | 825 | 1297 |
| Units redeemed |  | (11469) | (6630) | (22606) | (29492) | (373) | (5) | (915) | (89) |
| Ending units |  | 9098 | 8133 | 240405 | 185430 | 11901 | 2349 | 9287 | 9377 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PVSTA** | **PVSTA** | **PVSTA** | **PROA30** | **PROA30** | **PROAHY** | **PROAHY** | **PROBIO** | **PROBIO** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 100728 | 54306 |  |  | 11230 | 10340 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 13217 | (3381) | 2985 | (582) | 238 | (12231) | (11593) | (22930) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 3868 | 18148 |  |  | 1472 | 10088 | (8951) | 12969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  | 17814 | 7124 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 117813 | 69073 | 2985 | (582) | 12940 | 8197 | (2730) | (2837) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 132452 | 42215 |  |  |  |  | 22291 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 983567 | 170308 | (2933) | 582 |  | (12389) | (25587) | 12786 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (219901) | (37525) | (51) |  | (5784) | (2884) | (5832) | (17407) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | (1) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 896118 | 174998 | (2985) | 582 | (5784) | (15273) | (9128) | (4621) |
| **Net change in contract owners' equity** |  | 1013931 | 244071 |  |  | 7156 | (7076) | (11858) | (7458) |
| **Contract owners' equity at beginning of period** |  | 1463029 | 1218958 |  |  | 208403 | 215479 | 44315 | 51773 |
| **Contract owners' equity at end of period** | $— | 2476960 | 1463029 |  |  | 215559 | 208403 | 32457 | 44315 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 96160 | 84838 |  |  | 11026 | 12589 | 854 | 1099 |
| Units purchased |  | 123703 | 48401 | 3420 | 8078 |  | 22472 | 4358 | 3958 |
| Units redeemed |  | (66353) | (37079) | (3420) | (8078) | (298) | (24035) | (4585) | (4203) |
| Ending units |  | 153510 | 96160 |  |  | 10728 | 11026 | 627 | 854 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROBL** | **PROBL** | **PROBL** | **PROBM** | **PROBM** | **PROBNK** | **PROBNK** | **PROCG** | **PROCG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 11472 |  |  | 41 |  | 351 | 2095 | 351 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 90812 | (28673) | 470 | 20 | 21632 | (2532) | 20805 | (62253) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (3953) | (8603) | (558) | 558 |  | 1882 | (43934) | 50146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 76660 | 223655 |  |  |  |  | 45070 | 26793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 174991 | 186379 | (88) | 619 | 21632 | (299) | 24036 | 15037 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  |  |  | 83590 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (164570) | 1240235 |  | 8651 | (21037) | (27899) | (144073) | 93944 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (27727) | (23547) | (8228) | (955) | (594) | (100) | (12468) | (18511) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | 1 | 1 |  | (1) | 1 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (192296) | 1216689 | (8227) | 7696 | (21632) | (27998) | (72951) | 75432 |
| **Net change in contract owners' equity** |  | (17305) | 1403068 | (8315) | 8315 |  | (28297) | (48915) | 90469 |
| **Contract owners' equity at beginning of period** |  | 1403068 |  | 8315 |  |  | 28297 | 267206 | 176737 |
| **Contract owners' equity at end of period** | $— | 1385763 | 1403068 |  | 8315 |  |  | 218291 | 267206 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 35039 |  | 344 |  |  | 1201 | 8770 | 6028 |
| Units purchased |  | 77090 | 138784 | 343 | 385 | 22797 | 130 | 4357 | 16875 |
| Units redeemed |  | (83877) | (103745) | (687) | (41) | (22797) | (1331) | (6635) | (14133) |
| Ending units |  | 28252 | 35039 |  | 344 |  |  | 6492 | 8770 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROCS** | **PROCS** | **PROCS** | **PROEM** | **PROEM** | **PROFIN** | **PROFIN** | **PROGVP** | **PROGVP** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  | 561 | 712 | 38 | 206 | 486 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 3183 |  | (7580) | (13764) | 25695 | (4212) | (4426) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (8307) | 8307 | (4547) | 4763 | (7686) | 10352 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  | 1275 | 1864 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (5124) | 8307 | (11566) | (8289) | 19322 | 8210 | (3940) |  |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 3788 |  |  |  | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (169452) | 167342 | 15916 | 34667 | 33363 | 3913 | 5155 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1065) | (8) | (1115) | (2300) | (1174) | (1107) | (1216) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | (1) |  | (1) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (170517) | 167334 | 18588 | 32367 | 32188 | 2806 | 3940 |  |
| **Net change in contract owners' equity** |  | (175641) | 175641 | 7022 | 24078 | 51510 | 11016 |  |  |
| **Contract owners' equity at beginning of period** |  | 175641 |  | 34654 | 10576 | 88616 | 77600 |  |  |
| **Contract owners' equity at end of period** | $— |  | 175641 | 41676 | 34654 | 140126 | 88616 |  |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 4030 |  | 3129 | 1101 | 2893 | 2885 |  |  |
| Units purchased |  | 1659 | 4030 | 25065 | 11144 | 5576 | 1387 | 10842 |  |
| Units redeemed |  | (5689) |  | (24705) | (9116) | (4907) | (1379) | (10842) |  |
| Ending units |  |  | 4030 | 3489 | 3129 | 3562 | 2893 |  |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROHC** | **PROHC** | **PROHC** | **PROIND** | **PROIND** | **PROINT** | **PROINT** | **PROJP** | **PROJP** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 90 |  | 681 |  | 5130 |  | 9006 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (2482) | (3773) | 47666 | 4328 | 5167 |  | (10756) | 5376 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (5478) | (4313) | (31189) | 15000 |  |  | (17593) | 9982 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 6487 | 6717 | 48463 | 18363 |  |  | 45970 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (1383) | (1369) | 65621 | 37691 | 10297 |  | 26627 | 15358 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  | 22733 |  | (7882) |  | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 49815 | (103662) | 91168 | 182630 | (1971) |  | 132089 | 4264 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (814) | (2334) | (14238) | (2598) | (445) |  | (2386) | (1954) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (1) | 1 |  | 1 |  | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 49001 | (105997) | 99664 | 180032 | (10297) |  | 129703 | 2310 |
| **Net change in contract owners' equity** |  | 47618 | (107366) | 165285 | 217723 |  |  | 156330 | 17668 |
| **Contract owners' equity at beginning of period** |  | 59170 | 166536 | 307924 | 90201 |  |  | 54512 | 36844 |
| **Contract owners' equity at end of period** | $— | 106788 | 59170 | 473209 | 307924 |  |  | 210842 | 54512 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1292 | 3666 | 8155 | 2778 |  |  | 2007 | 1825 |
| Units purchased |  | 4575 | 145 | 31500 | 7720 | 17885 |  | 10316 | 14676 |
| Units redeemed |  | (3554) | (2519) | (28802) | (2343) | (17885) |  | (5970) | (14494) |
| Ending units |  | 2313 | 1292 | 10853 | 8155 |  |  | 6353 | 2007 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROLCG** | **PROLCG** | **PROLCG** | **PROLCV** | **PROLCV** | **PROMC** | **PROMC** | **PROMCG** | **PROMCG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  |  | 44 | 343 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 389 | (53) | 3599 | (6) | 13242 | (11460) | 1632 | (102) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 12025 | (1600) | (4967) | 4967 | (7675) | 20133 | 4133 | 8260 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 611 | 5629 |  | 621 |  |  | 2818 | 322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 13025 | 3976 | (1368) | 5626 | 5910 | 8673 | 8583 | 8480 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (33271) | 51191 | (397502) | 403646 | (1564) | (9972) | 528 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (2548) | (1366) | (9378) | (1024) | (67334) | (593) | (801) | (345) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  |  |  |  |  | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (35819) | 49825 | (406880) | 402622 | (68898) | (10565) | (272) | (345) |
| **Net change in contract owners' equity** |  | (22794) | 53801 | (408248) | 408248 | (62988) | (1892) | 8311 | 8135 |
| **Contract owners' equity at beginning of period** |  | 59491 | 5690 | 408248 |  | 75625 | 77517 | 62818 | 54683 |
| **Contract owners' equity at end of period** | $— | 36697 | 59491 |  | 408248 | 12637 | 75625 | 71129 | 62818 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1230 | 150 | 12058 |  | 2449 | 2858 | 1872 | 1883 |
| Units purchased |  |  | 1110 | 263 | 12091 | 2989 | 1361 | 1606 |  |
| Units redeemed |  | (663) | (30) | (12321) | (33) | (5070) | (1770) | (1617) | (11) |
| Ending units |  | 567 | 1230 |  | 12058 | 368 | 2449 | 1861 | 1872 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROMCV** | **PROMCV** | **PROMCV** | **PRON** | **PRON** | **PRONET** | **PRONET** | **PROOG** | **PROOG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 19 | 20 | 1287 |  |  |  | 525 | 1080 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1224 | (1134) | 576 | 20911 | 20478 | (15893) | 4331 | (503) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (365) | 1191 | 1399 | 10616 | 4568 | 41118 | 1620 | (3254) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 328 | 410 | 37986 | 516 | 1827 | 22148 | 1143 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 1206 | 487 | 41248 | 32043 | 26873 | 47373 | 7619 | (2677) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  | (1) |  |  | 10426 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (8316) | 368 | 179703 | (26804) | (61536) | 47964 | (75760) | 24067 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (68) | (78) | (11041) | (2892) | (1296) | (8415) | (1581) | (1255) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 |  | 1 | 1 | 1 | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (8383) | 290 | 168663 | (29696) | (62831) | 39548 | (66915) | 22812 |
| **Net change in contract owners' equity** |  | (7177) | 777 | 209911 | 2347 | (35958) | 86921 | (59296) | 20135 |
| **Contract owners' equity at beginning of period** |  | 7177 | 6400 | 156039 | 153692 | 143181 | 56260 | 83231 | 63096 |
| **Contract owners' equity at end of period** | $— |  | 7177 | 365950 | 156039 | 107223 | 143181 | 23935 | 83231 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 223 | 226 | 2113 | 3167 | 2934 | 1727 | 5137 | 3797 |
| Units purchased |  | 8 | 802 | 10089 | 19465 | 5149 | 10709 | 38406 | 4717 |
| Units redeemed |  | (231) | (805) | (8188) | (20519) | (6384) | (9502) | (42119) | (3377) |
| Ending units |  |  | 223 | 4014 | 2113 | 1699 | 2934 | 1424 | 5137 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROPM** | **PROPM** | **PROPM** | **PRORE** | **PRORE** | **PRORRO** | **PRORRO** | **PROSC** | **PROSC** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 867 |  | 332 |  | 865 | 21 | 2070 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 237 | (5543) | 266 |  | (9715) | (5824) | 255 | 99 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 658 | 4214 | (2975) |  | 1169 | 597 | 11998 | 14295 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  | 9650 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 1762 | (1329) | (2377) |  | 1969 | (5206) | 14323 | 14394 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  |  | 14048 | 145287 |  | 9376 | (42534) | 40028 | 15054 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (1073) | (1683) | (743) |  | (138) | (166) | (1130) | (723) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (1) |  |  |  | (1) |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (1073) | 12364 | 144544 |  | 9238 | (42701) | 38898 | 14332 |
| **Net change in contract owners' equity** |  | 689 | 11035 | 142167 |  | 11207 | (47907) | 53221 | 28726 |
| **Contract owners' equity at beginning of period** |  | 24279 | 13244 |  |  | 9669 | 57576 | 110452 | 81726 |
| **Contract owners' equity at end of period** | $— | 24968 | 24279 | 142167 |  | 20876 | 9669 | 163673 | 110452 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 4232 | 2343 |  |  | 2756 | 16698 | 4166 | 3542 |
| Units purchased |  |  | 31265 | 6099 |  | 5038 | 29386 | 1585 | 766 |
| Units redeemed |  | (148) | (29376) | (244) |  | (2794) | (43328) | (111) | (142) |
| Ending units |  | 4084 | 4232 | 5855 |  | 5000 | 2756 | 5640 | 4166 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROSCG** | **PROSCG** | **PROSCG** | **PROSCN** | **PROSCN** | **PROSCV** | **PROSCV** | **PROSEM** | **PROSEM** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  |  |  |  | 1 | 2495 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (681) | 28 | 241902 | 94409 | (939) | (64) | (2491) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (2100) | 716 | (1706) | 90246 | 885 | 345 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 499 | 281 | 38567 | 2549 |  | 167 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (2282) | 1025 | 278763 | 187204 | (54) | 449 | 4 |  |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 28605 |  | 80092 | (2) | (147) |  | 44336 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 5423 | 3420 | 70522 | 190849 | (1137) |  | (44286) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (3729) | (475) | (32332) | (29794) | (2517) | (178) | (54) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) | (1) | (1) | 3 |  | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 30298 | 2944 | 118281 | 161056 | (3801) | (179) | (4) |  |
| **Net change in contract owners' equity** |  | 28016 | 3969 | 397044 | 348260 | (3855) | 270 |  |  |
| **Contract owners' equity at beginning of period** |  | 10071 | 6102 | 432520 | 84260 | 3855 | 3585 |  |  |
| **Contract owners' equity at end of period** | $— | 38087 | 10071 | 829564 | 432520 |  | 3855 |  |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 281 | 196 | 4204 | 1586 | 129 | 136 |  |  |
| Units purchased |  | 6855 | 100 | 7870 | 10452 | 2375 |  | 12065 |  |
| Units redeemed |  | (6149) | (15) | (7351) | (7834) | (2504) | (7) | (12065) |  |
| Ending units |  | 987 | 281 | 4723 | 4204 |  | 129 |  |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROSN** | **PROSN** | **PROTEC** | **PROTEC** | **PROTEL** | **PROTEL** | **PROUB** | **PROUB** |
|  | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  |  |  |  |  | 1410 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (10589) | 16490 | (1959) | 1412 | (186) | (1612) | (6200) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (7) | (1388) | 15801 | 305 |  | 66484 | 52241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 10 | 17517 | 3375 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (10586) | 32619 | 17217 | 1717 | (186) | 66282 | 46041 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 19682 |  |  |  | 63609 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 5110 | 122914 | 32737 | 1065 | 186 | (30694) | (11530) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (529) | (15121) | (1803) | (223) |  | (4214) | (2598) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (1) |  |  |  | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 4581 | 127474 | 30934 | 842 | 186 | 28702 | (14128) |
| **Net change in contract owners' equity** |  | (6005) | 160093 | 48151 | 2559 |  | 94984 | 31913 |
| **Contract owners' equity at beginning of period** |  | 6005 | 73798 | 25647 |  |  | 137705 | 105792 |
| **Contract owners' equity at end of period** | $— |  | 233891 | 73798 | 2559 |  | 232689 | 137705 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |
| Beginning units |  | 7127 | 978 | 537 |  |  | 1349 | 1505 |
| Units purchased |  | 1116025 | 4383 | 2885 | 3238 | 1543 | 556 | 39 |
| Units redeemed |  | (1123152) | (2773) | (2444) | (3146) | (1543) | (300) | (195) |
| Ending units |  |  | 2588 | 978 | 92 |  | 1605 | 1349 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PROUN** | **PROUN** | **PROUN** | **PROUSC** | **PROUSC** | **PROUSN** | **PROUSN** | **PROUTL** | **PROUTL** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 2056 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 192100 | 207442 | 1448 |  | 3179 | (28177) | (425) | 2509 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (33439) | 28009 |  |  |  |  |  | (2978) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 160717 | 235451 | 1448 |  | 3179 | (28177) | (425) | (469) |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 152463 | (1) |  |  | (4) | (3) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (24794) | (180631) | (1066) |  | (3175) | 28879 | 4948 | (36280) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (9822) | (5423) | (382) |  |  | (700) | (4523) | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) |  |  |  |  | 1 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 117846 | (186055) | (1448) |  | (3179) | 28177 | 425 | (36313) |
| **Net change in contract owners' equity** |  | 278563 | 49396 |  |  |  |  |  | (36782) |
| **Contract owners' equity at beginning of period** |  | 342719 | 293323 |  |  |  |  |  | 36782 |
| **Contract owners' equity at end of period** | $— | 621282 | 342719 |  |  |  |  |  |  |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1117 | 2059 |  |  |  |  |  | 1222 |
| Units purchased |  | 18543 | 35945 | 1428 |  | 41785619 | 58808336 | 22555 | 1 |
| Units redeemed |  | (18228) | (36887) | (1428) |  | (41785619) | (58808336) | (22555) | (1223) |
| Ending units |  | 1432 | 1117 |  |  |  |  |  |  |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PVDIB** | **PVDIB** | **PVEIB** | **PVEIB** | **PVHYB** | **PVHYB** | **PVIB** | **PVIB** |
|  | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— |  | 15833 | 21556 | 7684 | 417 | 369 | 373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (4203) | 65215 | 4486 | 12955 | 13395 | (20) | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 4205 | 142322 | 83416 | (754) | 171 | (192) | (47) |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  | 64443 | 60426 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 2 | 287813 | 169884 | 19885 | 13983 | 157 | 305 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 1170016 | 6037 |  |  |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (19781) | 1807739 | 187620 | 112907 | (13048) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (241) | (68123) | (50926) | (1309) | (93) | (63) | (68) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (1) |  | (1) |  |  | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (20022) | 2909631 | 142731 | 111597 | (13141) | (63) | (69) |
| **Net change in contract owners' equity** |  | (20020) | 3197444 | 312615 | 131482 | 842 | 94 | 236 |
| **Contract owners' equity at beginning of period** |  | 20020 | 1266933 | 954318 | 8425 | 7583 | 6775 | 6539 |
| **Contract owners' equity at end of period** | $— |  | 4464377 | 1266933 | 139907 | 8425 | 6869 | 6775 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |
| Beginning units |  | 1561 | 28179 | 24551 | 458 | 462 | 494 | 499 |
| Units purchased |  |  | 65657 | 5190 | 118796 | 167745 |  |  |
| Units redeemed |  | (1561) | (10493) | (1562) | (112209) | (167749) | (4) | (5) |
| Ending units |  |  | 83343 | 28179 | 7045 | 458 | 490 | 494 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **PVNOB** | **PVNOB** | **PVNOB** | **ROCMC** | **ROCMC** | **ROCSC** | **ROCSC** | **TRBCG2** | **TRBCG2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 202 | 653 |  |  | 2569 | 1731 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 4265 | 3165 | 13888 | (9765) | 4255 | (4638) | 131180 | 24821 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 64701 | 18840 | (6284) | 43254 | (13117) | 28827 | 1057153 | 1194099 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 654 | 4006 | 13315 |  | 8685 | 17975 | 210292 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 69822 | 26664 | 20919 | 33489 | 2392 | 43895 | 1398625 | 1218920 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 988848 |  |  | (1) | 599 | 13125 | 129857 | (320) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 1060680 | (57227) | (53136) | 53842 | (11911) | (7957) | 22475 | 870547 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (11090) | (2831) | (1094) | (3504) | (20068) | (17936) | (595661) | (311526) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (1) |  |  | 1 | (1) | (1) | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 2038437 | (60058) | (54230) | 50338 | (31381) | (12769) | (443330) | 558701 |
| **Net change in contract owners' equity** |  | 2108259 | (33394) | (33311) | 83827 | (28989) | 31126 | 955295 | 1777621 |
| **Contract owners' equity at beginning of period** |  | 82666 | 116060 | 232025 | 148198 | 242038 | 210912 | 3972087 | 2194466 |
| **Contract owners' equity at end of period** | $— | 2190925 | 82666 | 198714 | 232025 | 213049 | 242038 | 4927382 | 3972087 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 4901 | 8678 | 6575 | 4988 | 6322 | 6938 | 67379 | 55449 |
| Units purchased |  | 101341 | 2369 | 1010 | 6204 | 1233 | 3288 | 13181 | 30954 |
| Units redeemed |  | (647) | (6146) | (2631) | (4617) | (2173) | (3904) | (18724) | (19024) |
| Ending units |  | 105595 | 4901 | 4954 | 6575 | 5382 | 6322 | 61836 | 67379 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **TREI2** | **TREI2** | **TREI2** | **TRHS2** | **TRHS2** | **TRLT2** | **TRLT2** | **TRMCG2** | **TRMCG2** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 8862 | 9936 |  |  | 11850 | 10910 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (630) | (20715) | (42250) | (12692) | (5901) | (7210) | 56 | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 9436 | 42687 | (124731) | 888 | 8429 | 12295 | (4326) | 324 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 35752 | 18544 | 120439 | 43184 |  |  | 5637 | 1416 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 53420 | 50452 | (46542) | 31380 | 14378 | 15995 | 1367 | 1711 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 69536 | 1992 | 69908 | 2010 | 1 | 1 | 35756 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (9956) | (137486) | 418316 | (157086) | (41292) | 11885 |  | 21348 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (19267) | (9327) | (322569) | (33534) | (26575) | (49953) | (1996) | (413) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  | (3) |  | 1 | (1) | (1) | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 40313 | (144824) | 165655 | (188609) | (67867) | (38068) | 33761 | 20935 |
| **Net change in contract owners' equity** |  | 93733 | (94372) | 119113 | (157229) | (53489) | (22073) | 35128 | 22646 |
| **Contract owners' equity at beginning of period** |  | 453004 | 547376 | 1167684 | 1324913 | 326075 | 348148 | 22646 |  |
| **Contract owners' equity at end of period** | $— | 546737 | 453004 | 1286797 | 1167684 | 272586 | 326075 | 57774 | 22646 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 13939 | 18411 | 13899 | 16194 | 24333 | 27194 | 2013 |  |
| Units purchased |  | 2084 | 2358 | 9216 | 977 | 2508 | 7584 | 2871 | 2056 |
| Units redeemed |  | (919) | (6830) | (8013) | (3272) | (7413) | (10445) | (174) | (43) |
| Ending units |  | 15104 | 13939 | 15102 | 13899 | 19428 | 24333 | 4710 | 2013 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **TAVV** | **TAVV** | **TAVV** | **VVGGS** | **VVGGS** | **VWBF** | **VWBF** | **VWEM** | **VWEM** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 7776 | 3860 | 2538 |  | 2904 | 2052 | 5488 | 16505 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 5134 | 24096 | (10065) | (11795) | 553 | (1475) | (90375) | (77560) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | (48044) | 3395 | 6445 | 8790 | (2875) | 4664 | 93032 | 100635 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 23778 | 10739 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | (11356) | 42090 | (1082) | (3005) | 582 | 5241 | 8145 | 39580 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 16751 |  |  |  |  |  |  | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 84555 | 11333 | 13220 | 43594 | (11837) | 245 | (130706) | 13564 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (18827) | (12252) | (2531) | (1299) | (224) | (546) | (6204) | (30922) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | (90) |  | 1 |  |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 82479 | (919) | 10599 | 42295 | (12060) | (301) | (136910) | (17359) |
| **Net change in contract owners' equity** |  | 71123 | 41171 | 9517 | 39290 | (11478) | 4940 | (128765) | 22221 |
| **Contract owners' equity at beginning of period** |  | 215648 | 174477 | 76787 | 37497 | 51701 | 46761 | 447619 | 425398 |
| **Contract owners' equity at end of period** | $— | 286771 | 215648 | 86304 | 76787 | 40223 | 51701 | 318854 | 447619 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 7991 | 7811 | 6392 | 3446 | 3088 | 3111 | 15707 | 16387 |
| Units purchased |  | 8459 | 28021 | 6097 | 19740 | 2359 | 3759 | 760 | 5024 |
| Units redeemed |  | (5577) | (27841) | (6210) | (16794) | (3110) | (3782) | (5412) | (5704) |
| Ending units |  | 10873 | 7991 | 6279 | 6392 | 2337 | 3088 | 11055 | 15707 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **VWHA** | **VWHA** | **VWHA** | **VVB** | **VVB** | **VVCA** | **VVCA** | **VVCG** | **VVCG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 3988 | 11047 | 166765 | 117004 | 24199 | 8478 | 19875 | 18024 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (21660) | 1818 | 91705 | (22403) | (3576) | (19573) | 54938 | 66628 |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 18783 | (27266) | 538907 | 575125 | 25152 | 64212 | 171749 | 316243 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 410891 | 260010 | 22607 | 12602 | 47800 | 111505 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 1111 | (14401) | 1208268 | 929736 | 68382 | 65719 | 294362 | 512400 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 10849 | 1860637 | 442474 | 9605 | 322008 | 22627 | 93 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | (79093) | 3153 | 1048066 | 239311 | 29281 | 96780 | 237838 | (353697) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (87744) | (92580) | (914226) | (206354) | (22194) | (93959) | (454097) | (17681) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (1) |  | 3 | 1 |  | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | (166836) | (78579) | 1994477 | 475434 | 16693 | 324829 | (193633) | (371285) |
| **Net change in contract owners' equity** |  | (165725) | (92980) | 3202745 | 1405170 | 85075 | 390548 | 100729 | 141115 |
| **Contract owners' equity at beginning of period** |  | 308493 | 401473 | 7717463 | 6312293 | 924759 | 534211 | 2103828 | 1962713 |
| **Contract owners' equity at end of period** | $— | 142768 | 308493 | 10920208 | 7717463 | 1009834 | 924759 | 2204557 | 2103828 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 12257 | 15380 | 369944 | 345072 | 76947 | 49886 | 64238 | 76507 |
| Units purchased |  |  | 571 | 141490 | 46713 | 3186 | 35344 | 17002 | 2692 |
| Units redeemed |  | (6419) | (3694) | (54313) | (21841) | (1766) | (8283) | (21737) | (14961) |
| Ending units |  | 5838 | 12257 | 457121 | 369944 | 78367 | 76947 | 59503 | 64238 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **VVDV** | **VVDV** | **VVDV** | **VVEI** | **VVEI** | **VVEIX** | **VVEIX** | **VVG** | **VVG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 39098 | 16536 | 154360 | 122508 | 119458 | 103826 | 3573 | (1143) |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 127544 | 61626 | 122476 | 23305 | 720405 | 332094 | (550163) | (231531) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 50995 | 156162 | 211214 | 30942 | 1353443 | 1445723 | 2539637 | 1989685 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 167899 | 78330 | 359947 | 265789 | 431550 | 281634 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 385536 | 312654 | 847997 | 442544 | 2624856 | 2163277 | 1993047 | 1757011 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 93842 | 19107 | 455277 | 504569 | 617120 | 130668 | 394068 | 247149 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 659131 | 438435 | 789612 | 479978 | 2032993 | 332519 | (1275917) | 729074 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (87717) | (82253) | (636108) | (487185) | (888066) | (273312) | (313754) | (225368) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (1) | 3 | (5) |  | 3 | (1) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 665257 | 375288 | 608784 | 497357 | 1762047 | 189878 | (1195604) | 750858 |
| **Net change in contract owners' equity** |  | 1050793 | 687942 | 1456781 | 939901 | 4386903 | 2353155 | 797443 | 2507869 |
| **Contract owners' equity at beginning of period** |  | 2085672 | 1397730 | 5994917 | 5055016 | 10623943 | 8270788 | 6779363 | 4271494 |
| **Contract owners' equity at end of period** | $— | 3136465 | 2085672 | 7451698 | 5994917 | 15010846 | 10623943 | 7576806 | 6779363 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 87808 | 70512 | 247033 | 224610 | 353816 | 346514 | 206012 | 181446 |
| Units purchased |  | 42214 | 27615 | 73037 | 61861 | 107598 | 61080 | 47362 | 52972 |
| Units redeemed |  | (14797) | (10319) | (52669) | (39438) | (59965) | (53778) | (79999) | (28406) |
| Ending units |  | 115225 | 87808 | 267401 | 247033 | 401449 | 353816 | 173375 | 206012 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **VVGBI** | **VVGBI** | **VVGBI** | **VVHGB** | **VVHGB** | **VVHYB** | **VVHYB** | **VVI** | **VVI** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 38691 | 25796 | 444695 | 331875 | 162803 | 147073 | 82178 | 92296 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (11892) | (53065) | (291890) | (131712) | 35948 | (262527) | (275332) | (42571) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 6808 | 110144 | 12560 | 623823 | (7787) | 465475 | 615826 | 715956 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 1602 | 2575 |  |  |  |  | 274315 | 241793 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 35209 | 85450 | 165365 | 823986 | 190964 | 350021 | 696987 | 1007474 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 222534 | 83793 | 583275 | 522808 | 198637 | 103278 | 884949 | 316706 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 256777 | (84886) | 4242681 | 1296839 | (121583) | (6445) | (861785) | 812266 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (59812) | (82475) | (1181469) | (646765) | (230881) | (154929) | (485727) | (193754) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  |  |  | (1) | 3 |  |  | 2 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 419499 | (83568) | 3644486 | 1172885 | (153827) | (58096) | (462561) | 935216 |
| **Net change in contract owners' equity** |  | 454708 | 1882 | 3809851 | 1996871 | 37137 | 291925 | 234426 | 1942690 |
| **Contract owners' equity at beginning of period** |  | 1482083 | 1480201 | 16878880 | 14882009 | 3277763 | 2985838 | 8626742 | 6684052 |
| **Contract owners' equity at end of period** | $— | 1936791 | 1482083 | 20688731 | 16878880 | 3314900 | 3277763 | 8861168 | 8626742 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 147098 | 156096 | 1463258 | 1358711 | 220086 | 223316 | 454997 | 403186 |
| Units purchased |  | 51842 | 23228 | 536944 | 234352 | 43872 | 167445 | 89462 | 91422 |
| Units redeemed |  | (10070) | (32226) | (224229) | (129805) | (54336) | (170675) | (114656) | (39611) |
| Ending units |  | 188870 | 147098 | 1775973 | 1463258 | 209622 | 220086 | 429803 | 454997 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **VVMA** | **VVMA** | **VVMA** | **VVMCI** | **VVMCI** | **VVREI** | **VVREI** | **VVSCG** | **VVSCG** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 50491 | 16627 | 73415 | 68078 | 77083 | 44290 | 1670 | 924 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | 1477 | (8794) | 100986 | 2464 | 3735 | (3246) | (9216) | (16159) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 139296 | 175086 | 810186 | 682381 | 33185 | 136154 | 83116 | 115818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 46204 | 31886 | 78137 | 103221 | 71965 | 93699 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 237468 | 214805 | 1062724 | 856144 | 185968 | 270897 | 75570 | 100583 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  |  | 1299892 | 618706 | 264104 | 617390 | 273716 | 86213 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 129354 | 16892 | 3382727 | (369711) | 630190 | 242414 | 133791 | 13648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (20477) | (48831) | (322391) | (227122) | (121823) | (87407) | (10248) | (25672) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | 1 | 2 | (5) |  | (1) | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 108878 | 1267954 | 3679044 | (332734) | 1125757 | 428722 | 209757 | (12011) |
| **Net change in contract owners' equity** |  | 346346 | 1482759 | 4741768 | 523410 | 1311725 | 699619 | 285327 | 88572 |
| **Contract owners' equity at beginning of period** |  | 2326510 | 843751 | 6071585 | 5548175 | 2631416 | 1931797 | 616227 | 527655 |
| **Contract owners' equity at end of period** | $— | 2672856 | 2326510 | 10813353 | 6071585 | 3943141 | 2631416 | 901554 | 616227 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 178899 | 74783 | 255301 | 269551 | 134004 | 109611 | 29536 | 30184 |
| Units purchased |  | 9347 | 108095 | 171761 | 35524 | 76069 | 40521 | 10567 | 1813 |
| Units redeemed |  | (1478) | (3979) | (30949) | (49774) | (17881) | (16128) | (1209) | (2461) |
| Ending units |  | 186768 | 178899 | 396113 | 255301 | 192192 | 134004 | 38894 | 29536 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **VVSTC** | **VVSTC** | **VVSTC** | **VVTISI** | **VVTISI** | **VVTSM** | **VVTSM** | **VRVDIA** | **VRVDIA** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 403741 | 205517 | 196333 | 140838 | 195119 | 133043 | 115 | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (116914) | (63029) | 12583 | 9335 | 972231 | 90761 | 4043 | (273) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 282730 | 520264 | 33483 | 617115 | 2878677 | 2622727 | (4960) | 4960 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  |  |  | 37344 | 65267 | 1437062 | 846622 | 99 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 569557 | 662752 | 279743 | 832555 | 5483089 | 3693153 | (703) | 4758 |
|  **Equity transactions:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners (note 4) |  | 513399 | 762569 | 1510542 | 204268 | 4301403 | 748437 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 565904 | 415862 | 2940318 | 865432 | 4072190 | 2721571 | (70825) | 67805 |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (586517) | (449208) | (320749) | (58988) | (2075414) | (522460) | (462) | (541) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | 1 | (1) | 2 | (1) | 1 | (1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 492787 | 729222 | 4130113 | 1010711 | 6298180 | 2947547 | (71287) | 67264 |
| **Net change in contract owners' equity** |  | 1062344 | 1391974 | 4409856 | 1843266 | 11781269 | 6640700 | (71990) | 72022 |
| **Contract owners' equity at beginning of period** |  | 12226790 | 10834816 | 6859812 | 5016546 | 19827647 | 13186947 | 72022 |  |
| **Contract owners' equity at end of period** | $— | 13289134 | 12226790 | 11269668 | 6859812 | 31608916 | 19827647 | 32 | 72022 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |  |  |  |  |
| Beginning units |  | 1035730 | 971905 | 549758 | 463364 | 696048 | 581608 | 4528 |  |
| Units purchased |  | 247577 | 177896 | 358916 | 112758 | 333378 | 153161 | 353 | 12494 |
| Units redeemed |  | (207401) | (114071) | (46808) | (26364) | (130235) | (38721) | (4879) | (7966) |
| Ending units |  | 1075906 | 1035730 | 861866 | 549758 | 899191 | 696048 | 2 | 4528 |

---

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1** 

**STATEMENTS OF CHANGES IN CONTRACT OWNERS' EQUITY** 

**YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **VRVDRA** | **VRVDRA** | **VRVDRA** | **VRVNMA** | **VRVNMA** |
|  | **2024** | **2024** | **2023** | **2024** | **2023** |
|  **Investment activity\*:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | $— | 10079 | 7491 | 31161 | 26251 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) on investments |  | (7176) | (15487) | (2770) | (11637) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized gain (loss) on investments |  | 50090 | 44719 | 3724 | 32634 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reinvested capital gains |  | 6301 | 3502 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net increase (decrease) in contract owners' equity resulting from operations |  | 59294 | 40225 | 32115 | 47248 |
|  **Equity transactions:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchase payments received from contract owners<br>(note 4) |  | 13401 | 5352 | 337913 | 26818 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers between funds |  | 186666 | (38504) | (26341) | (55347) |
| &nbsp;&nbsp;&nbsp;&nbsp; Redemptions (notes 2, 3, and 4) |  | (26771) | (17521) | (32230) | (5447) |
| &nbsp;&nbsp;&nbsp;&nbsp; Adjustments to maintain reserves |  | (2) | 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net equity transactions |  | 173294 | (50672) | 279342 | (33976) |
| **Net change in contract owners' equity** |  | 232588 | (10447) | 311457 | 13272 |
| **Contract owners' equity at beginning of period** |  | 360713 | 371160 | 578657 | 565385 |
| **Contract owners' equity at end of period** | $— | 593301 | 360713 | 890114 | 578657 |
|  **CHANGE IN UNITS:** |  |  |  |  |  |
| Beginning units |  | 13334 | 15233 | 36672 | 38943 |
| Units purchased |  | 9204 | 801 | 22856 | 4115 |
| Units redeemed |  | (2766) | (2700) | (6266) | (6386) |
| Ending units |  | 19772 | 13334 | 53262 | 36672 |

---

\* For all subaccounts not included herein but listed as an investment option in note 1(b), there was no activity during the two-year period. See note 1(b) for all investments available for which no contract owners were invested at December 31, 2024, if applicable.

See accompanying notes to financial statements.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

**(1) Background and Summary of Significant Accounting Policies** 

*(a) Organization and Nature of Operations* 

The Jefferson National Life of New York Annuity Account 1 (the Separate Account) was established pursuant to a resolution of the Board of Directors of Jefferson National Life Insurance Company of New York (the Company) on June 20, 2014. The Separate Account is registered as a unit investment trust under the Investment Company Act of 1940. The Separate Account is an Investment Company and follows accounting and reporting guidance under Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 946, *Financial Services – Investment Companies*. The Company offers tax qualified and non-tax qualified Individual Deferred Variable Annuity Contracts through the Separate Account. The Separate Account offers an interest-only variable annuity product.

*(b) The Contracts* 

The Separate Account offers variable annuity insurance benefits intended to serve the long-term saving needs of investors. The primary distribution for the contracts is through the brokerage community; however, other distributors are utilized. Contract features are described in the applicable prospectus.

A contract owner may choose from among a number of different underlying mutual fund options. The underlying mutual fund options are not available to the general public directly. The underlying mutual funds are available as investment options in variable life insurance policies or variable annuity contracts issued by life insurance companies or, in some cases, through participation in certain qualified pension or retirement plans.

Some of the underlying mutual funds have been established by investment advisers which manage publicly traded mutual funds having similar names and investment objectives. While some of the underlying mutual funds may be similar to, and may in fact be modeled after, publicly traded mutual funds, the underlying mutual funds are not otherwise directly related to any publicly traded mutual fund. Consequently, the investment performance of publicly traded mutual funds and any corresponding underlying mutual funds may differ substantially.

With certain exceptions, contract owners in either the accumulation or payout phase may invest in any of the following:

AB FUNDS

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Dynamic Asset Allocation Portfolio: Class B (ALVDAB)\*

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)

AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)

ADVISOR PREFERRED

Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)

ALGER AMERICAN FUNDS

Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)

Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)

Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)

ALLSPRING GLOBAL INVESTMENTS

Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)\*

Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)

ALPS FUNDS

ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)

ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)

ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)

ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)

ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)

ALPS Variable Investment Trust - ALPS Global Opportunity Portfolio: Class III (ARLPE3)\*

ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)

AMERICAN FUNDS GROUP (THE)

American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)

American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)

American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)

American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)

American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)

American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)

American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)

American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)

American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)

American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)

American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)

American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)

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American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)

American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)

American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)

American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)

American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)

American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)

AMUNDI US

Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)

Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)

Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)

Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)

Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)

Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)

BLACKROCK FUNDS

BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)

BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)

BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)

BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)

BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)

BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)

BNY MELLON INVESTMENT MANAGEMENT

BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)

BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)

BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)

CALVERT GROUP

Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)

Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)

COLUMBIA FUNDS MANAGEMENT COMPANY

Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)

Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)

Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)

CREDIT SUISSE ASSET MANAGEMENT

Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)

DELAWARE FUNDS BY MACQUARIE

Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)

DIMENSIONAL FUND ADVISORS INC.

DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)

DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)

DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)

DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)

DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)

DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)

DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)

DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)

EATON VANCE FUNDS

Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)

FEDERATED HERMES, INC.

Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)

Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)

Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)

FIDELITY INVESTMENTS

Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)

Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)

Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)

Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)

Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)

Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)

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Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)

Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)

Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)

Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)

Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)

Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)

Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)

Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)

Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)

Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)

Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)

Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)

Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)

Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)

FIRST EAGLE

First Eagle Variable Funds - Overseas Variable Fund (FEOVF)

FRANKLIN TEMPLETON DISTRIBUTORS, INC.

Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)

Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)

Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)

Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)

Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)

Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)

Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)

GOLDMAN SACHS ASSET MANAGEMENT GROUP

Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)

GUGGENHEIM INVESTMENTS

Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)

Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)

Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)

Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)\*

Rydex Variable Trust - Biotechnology Fund (RBF)

Rydex Variable Trust - Banking Fund (RBKF)

Rydex Variable Trust - Basic Materials Fund (RBMF)\*

Rydex Variable Trust - Consumer Products Fund (RCPF)\*

Rydex Variable Trust - Electronics Fund (RELF)

Rydex Variable Trust - Energy Fund (RENF)

Rydex Variable Trust - Energy Services Fund (RESF)\*

Rydex Variable Trust - Financial Services Fund (RFSF)

Rydex Variable Trust - Health Care Fund (RHCF)

Rydex Variable Trust - High Yield Strategy Fund (RHYS)

Rydex Variable Trust - Internet Fund (RINF)\*

Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)

Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)\*

Rydex Variable Trust - Japan 2x Strategy Fund (RLCJ)\*

Rydex Variable Trust - Leisure Fund (RLF)

Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)

Rydex Variable Trust - Russell 2000(R) 1.5x Strategy Fund (RMEK)\*

Rydex Variable Trust - Nova Fund (RNF)\*

Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)

Rydex Variable Trust - Precious Metals Fund (RPMF)

Rydex Variable Trust - Real Estate Fund (RREF)

Rydex Variable Trust - Retailing Fund (RRF)\*

Rydex Variable Trust - Technology Fund (RTEC)

Rydex Variable Trust - Telecommunications Fund (RTEL)\*

Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)\*

Rydex Variable Trust - Transportation Fund (RTRF)

Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)\*

Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)

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Rydex Variable Trust - Utilities Fund (RUTL)

Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)

Rydex Variable Trust - Commodities Strategy Fund (RVCMD)

Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)

Rydex Variable Trust - Inverse Dow 2x Strategy Fund (RVIDD)\*

Rydex Variable Trust - Inverse Mid-Cap Strategy Fund (RVIMC)\*

Rydex Variable Trust - Inverse Russell 2000(R) Strategy Fund (RVISC)\*

Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)

Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)

Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)\*

Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)

Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)

Rydex Variable Trust - Global Managed Futures Fund (RVMFU)

Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)

Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)

Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)

Rydex Variable Trust - Weakening Dollar 2x Strategy Fund (RVWDL)\*

Guggenheim Variable Funds Trust - Series P (High Yield Series) (SBLP)\*

INVESCO INVESTMENTS

Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)

Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)\*

Invesco - Invesco V.I. Core Equity Fund: Series I Shares (AVGI)\*

Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)

Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)

Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)

Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)\*

Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)

Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)

Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)

Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)

Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)

Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)

Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)

Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)

Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)

Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)

Invesco - Invesco V.I. Global Fund: Series II (OVGSS)

Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)

Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)\*

IVY INVESTMENTS

Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)

Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)

Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)

Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)\*

Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)

Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)

Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)

Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)

Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)

Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)

JANUS HENDERSON INVESTORS

Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)

Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)

Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)

Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)

Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)

Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)

Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)

Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)

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Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)

JOHN HANCOCK FUNDS

John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)

LAZARD FUNDS

Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)

Lazard Retirement Series, Inc. - Lazard Retirement Global Dynamic Multi-Asset Portfolio: Service Shares (LZRGDM)\*

Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)

Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)

LEGG MASON

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)

Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)

LINCOLN FUNDS

Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)

Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)

Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)

Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)

Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)

Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)

Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)

LORD ABBETT FUNDS

Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)

Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)

Lord Abbett Series Fund, Inc. - Growth and Income Portfolio: Class VC (LOVGI)\*

MASSACHUSETTS FINANCIAL SERVICES CO.

MFS(R) Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)

MFS(R) Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)

MFS(R) Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)

MFS(R) Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)

MERGER FUNDS

The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)

NATIONWIDE FUNDS

Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)

Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)

Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)

Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)

Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)

Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)

Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)

Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)

Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Capital Appreciation Fund: Class P (NVDCAP)\*

Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)

Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)

Nationwide Variable Insurance Trust - NVIT Investor Destinations Moderate Fund: Class P (NVIDMP)\*

Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)

Nationwide Variable Insurance Trust - NVIT NS Partners International Focused Growth Fund: Class II (NVMIG6)\*

Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)

Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)

Nationwide Variable Insurance Trust - NVIT Allspring Discovery Fund: Class II (NVMMG2)\*

Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)

Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)\*

Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)

Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)

Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)

NEUBERGER & BERMAN MANAGEMENT, INC.

Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)

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Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)

Neuberger Berman Advisers Management Trust - Sustainable Equity Portfolio: Class I Shares (AMSRS)\*

Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)

NEW AGE ALPHA ADVISORS, LLC

New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)

New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)

New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)

NORTHERN LIGHTS

Northern Lights Variable Trust - TOPS Aggressive Growth ETF Portfolio: Class 2 (NOTAG2)\*

Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)\*

Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)

Northern Lights Variable Trust - TOPS Balanced ETF Portfolio: Class 2 (NOTBE2)\*

Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)

Northern Lights Variable Trust - TOPS Managed Risk Growth ETF Portfolio: Class 2 (NOTG2)\*

Northern Lights Variable Trust - TOPS Growth ETF Portfolio: Class 2 (NOTGR2)\*

Northern Lights Variable Trust - TOPS Moderate Growth ETF Portfolio: Class 2 (NOTMD2)\*

Northern Lights Variable Trust - TOPS Managed Risk Moderate Growth ETF Portfolio: Class 2 (NOTMG2)\*

Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)

Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)

NYLI FUNDS

New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)

PIMCO FUNDS

PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)

PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)

PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)

PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)

PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)

PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)

PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)

PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)

PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)

PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)

PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)

PIMCO Variable Insurance Trust - CommodityRealReturn(R) Strategy Portfolio: Administrative Class (PMVRSA)

PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)

PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)

PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)

PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)

PROFUNDS

ProFunds - ProFund VP Asia 30 (PROA30)\*

ProFunds - ProFund Access VP High Yield (PROAHY)

ProFunds - ProFund VP Biotechnology (PROBIO)

ProFunds - ProFund VP Bull (PROBL)

ProFunds - ProFund VP Materials (PROBM)\*

ProFunds - ProFund VP Banks (PROBNK)\*

ProFunds - ProFund VP Bear (PROBR)\*

ProFunds - ProFund VP Consumer Staples (PROCG)

ProFunds - ProFund VP Consumer Discretionary (PROCS)\*

ProFunds - ProFund VP Europe 30 (PROE30)\*

ProFunds - ProFund VP Emerging Markets (PROEM)

ProFunds - ProFund VP Financials (PROFIN)

ProFunds - ProFund VP Falling U.S. Dollar (PROFUD)\*

ProFunds - ProFund VP Government Money Market (PROGMM)\*

ProFunds - ProFund VP U.S. Government Plus (PROGVP)\*

ProFunds - ProFund VP Health Care (PROHC)

ProFunds - ProFund VP Industrials (PROIND)

ProFunds - ProFund VP International (PROINT)\*

ProFunds - ProFund VP Japan (PROJP)

ProFunds - ProFund VP Large-Cap Growth (PROLCG)

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ProFunds - ProFund VP Large-Cap Value (PROLCV)\*

ProFunds - ProFund VP Mid-Cap (PROMC)

ProFunds - ProFund VP Mid-Cap Growth (PROMCG)

ProFunds - ProFund VP Mid-Cap Value (PROMCV)\*

ProFunds - ProFund VP Nasdaq-100 (PRON)

ProFunds - ProFund VP Internet (PRONET)

ProFunds - ProFund VP Energy (PROOG)

ProFunds - ProFund VP Pharmaceuticals (PROPHR)\*

ProFunds - ProFund VP Precious Metals (PROPM)

ProFunds - ProFund VP Real Estate (PRORE)

ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)

ProFunds - ProFund VP Small-Cap (PROSC)

ProFunds - ProFund VP Small-Cap Growth (PROSCG)

ProFunds - ProFund VP Semiconductor (PROSCN)

ProFunds - ProFund VP Small-Cap Value (PROSCV)\*

ProFunds - ProFund VP Short Emerging Markets (PROSEM)\*

ProFunds - ProFund VP Short International (PROSIN)\*

ProFunds - ProFund VP Short Mid-Cap (PROSMC)\*

ProFunds - ProFund VP Short Nasdaq-100 (PROSN)\*

ProFunds - ProFund VP Short Small-Cap (PROSSC)\*

ProFunds - ProFund VP Technology (PROTEC)

ProFunds - ProFund VP Communication Services (PROTEL)

ProFunds - ProFund VP UltraBull (PROUB)

ProFunds - ProFund VP UltraMid-Cap (PROUMC)\*

ProFunds - ProFund VP UltraNasdaq-100 (PROUN)

ProFunds - ProFund VP UltraSmall-Cap (PROUSC)\*

ProFunds - ProFund VP UltraShort Nasdaq-100 (PROUSN)\*

ProFunds - ProFund VP Utilities (PROUTL)\*

PUTNAM INVESTMENTS

Putnam Variable Trust - Putnam VT Mortgage Securities Fund: Class IB (PVAGIB)\*

Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)\*

Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)

Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)

Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)

Putnam Variable Trust - Putnam VT International Value Fund: Class IB (PVIGIB)\*

Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)

ROYCE CAPITAL FUNDS

Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)

Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)

T. ROWE PRICE

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)

THIRD AVENUE FUNDS

Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)

VAN ECK ASSOCIATES CORPORATION

VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)

VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)

VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)

VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA) VANGUARD GROUP OF INVESTMENT COMPANIES

Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)

Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)

Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)

Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)

Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)

Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

Vanguard Variable Insurance Fund - Growth Portfolio (VVG)

Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)

Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)

Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)

Vanguard Variable Insurance Fund - International Portfolio (VVI)

Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)

Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)

Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)

Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)

Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)

Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)

Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)

VIRTUS MUTUAL FUNDS

Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)

Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)

Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)

\* At December 31, 2024, contract owners were not invested in this fund.

Unless listed below, the financial statements presented are as of December 31, 2024 and for each of the years in the two-year period ended December 31, 2024. For the subaccounts listed below with inception dates in 2024, the financial statements are as of December 31, 2024 and for the period from the inception date to December 31, 2024. For the subaccounts listed below with inception dates in 2023, the prior year financial statements reflect the period from inception date to December 31, 2023.

---

| | | |
|:---|:---|:---|
|  | **Inception Date** | **Liquidation Date** |
| Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX) | 5/4/2023 |  |
| Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI) | 6/2/2023 |  |
| Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG) | 6/2/2023 |  |
| Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF) | 7/18/2023 |  |
| T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2) | 9/15/2023 |  |
| Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY) | 10/26/2023 |  |
| Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2) | 4/26/2024 |  |
| Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2) | 4/26/2024 |  |
| Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2) | 4/26/2024 |  |
| Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS) | 4/26/2024 |  |
| Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2) | 4/26/2024 |  |
| Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2) | 4/26/2024 |  |
| Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2) | 4/26/2024 |  |
| New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG) | 10/25/2024 |  |
| New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG) | 10/25/2024 |  |
| New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV) | 10/25/2024 |  |
| Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2) | 11/14/2024 |  |
| Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF) | 12/9/2024 |  |
| AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable International Thematic Portfolio: Class B (ABIGB) |  | 4/15/2024 |
| Nationwide Variable Insurance Trust - NVIT J.P. Morgan Mozaic(SM) Multi-Asset Fund: Class Y (NJMMAY) |  | 4/15/2024 |
| Neuberger Berman Advisers Management Trust - U.S. Equity Index PutWrite Strategy Portfolio: Class S Shares (NBARMS) |  | 5/7/2024 |
| Two Roads Shared Trust - Redwood Managed Volatility Portfolio: Class I (RWMVI) |  | 6/21/2024 |
| Two Roads Shared Trust - Redwood Managed Volatility Portfolio: Class N (RWMVN) |  | 6/21/2024 |
| Rydex Variable Trust - Guggenheim Long Short Equity Fund (RSRF) |  | 8/20/2024 |

---

The following underlying mutual fund mergers occurred. The subaccounts associated with the underlying mutual funds are no longer available as of December 31, 2024.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | |
|:---|:---|:---|
| **Acquired Underlying Mutual Fund** | **Acquiring Underlying Mutual Fund** | **Effective Date** |
| American Century Variable Portfolios, Inc. - American Century VP Balanced Fund: Class I (ACVB) | Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2) | 4/26/2024 |
| American Century Variable Portfolios, Inc. - American Century VP International Fund: Class I (ACVI) | Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2) | 4/26/2024 |
| American Century Variable Portfolios, Inc. - American Century VP Disciplined Core Value Fund: Class I (ACVIG) | Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2) | 4/26/2024 |
| American Century Variable Portfolios II, Inc. - American Century VP Inflation Protection Fund: Class II (ACVIP2) | Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS) | 4/26/2024 |
| American Century Variable Portfolios, Inc. - American Century VP Large Company Value Fund: Class I (ACVLVI) | Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2) | 4/26/2024 |
| American Century Variable Portfolios, Inc. - American Century VP Ultra(R) Fund: Class I (ACVU1) | Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2) | 4/26/2024 |
| American Century Variable Portfolios, Inc. - American Century VP Value Fund: Class I (ACVV) | Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2) | 4/26/2024 |
| Guggenheim Variable Funds Trust - Series J (StylePlus Mid Growth Series) (SBLJ) | New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG) | 10/25/2024 |
| Guggenheim Variable Funds Trust - Series Q (Small Cap Value Series) (SBLQ) | New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV) | 10/25/2024 |
| Guggenheim Variable Funds Trust - Series Y (StylePlus - Large Growth Series) (SBLY) | New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG) | 10/25/2024 |

---

For the one-year period ended December 31, 2024, the following subaccount name changes occurred:

---

| | | | |
|:---|:---|:---|:---|
| **<u>Subaccount</u>**<br> **<u>Abbreviation</u>** | **<u>Current Legal Name</u>** | **<u>Prior Legal Name</u>** | **<u>Effective Date</u>** |
| ABTGB | AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B | AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Growth Portfolio: Class B | 5/1/2024 |
| CVN1IF | Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F | Calvert Variable Products, Inc. - Calvert VP Nasdaq 100 Index Portfolio: Class F | 5/1/2024 |
| DWVSVS | Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class | Delaware VIP Trust - Delaware VIP Small Cap Value Series: Service Class | 5/1/2024 |
| WRASP | Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Asset Strategy: Class II | 5/1/2024 |
| WRBDP | Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Corporate Bond: Class II | 5/1/2024 |
| WRBP | Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Balanced: Class II | 5/1/2024 |
| WRENG | Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Energy: Class II | 5/1/2024 |
| WRGNR | Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Natural Resources: Class II | 5/1/2024 |
| WRHIP | Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy High Income: Class II | 5/1/2024 |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | |
|:---|:---|:---|:---|
| WRLTBP | Ivy Variable Insurance Portfolios - Macquarie VIP Limited- Term Bond Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Limited- Term Bond: Class II | 5/1/2024 |
| WRMCG | Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Mid Cap Growth: Class II | 5/1/2024 |
| WRSTP | Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Science and Technology: Class II | 5/1/2024 |
| WRVP | Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class | Ivy Variable Insurance Portfolios - Delaware Ivy Value: Class II | 5/1/2024 |
| LPVCAI | Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I | Legg Mason Partners Variable Equity Trust - ClearBridge Variable Aggressive Growth Portfolio: Class I | 5/1/2024 |
| MNCPS | New York Life Investments VP Funds Trust – NYLI VP MacKay Convertible Portfolio: Service Class | MainStay VP Funds Trust – MainStay VP MacKay Convertible Portfolio: Service Class | 8/12/2024 |
| PROA30 | ProFunds - ProFund VP Asia 30 | ProFund VP Asia 30 | 5/1/2024 |
| PROAHY | ProFunds - ProFund Access VP High Yield | ProFund Access VP High Yield Fund | 5/1/2024 |
| PROBIO | ProFunds - ProFund VP Biotechnology | ProFund VP Biotechnology | 5/1/2024 |
| PROBL | ProFunds - ProFund VP Bull | ProFund VP Bull | 5/1/2024 |
| PROBM | ProFunds – ProFund VP Materials | ProFund VP Materials | 5/1/2024 |
| PROBNK | ProFunds - ProFund VP Banks | ProFund VP Banks | 5/1/2024 |
| PROBR | ProFunds - ProFund VP Bear | ProFund VP Bear | 5/1/2024 |
| PROCG | ProFunds - ProFund VP Consumer Staples | ProFund VP Consumer Staples | 5/1/2024 |
| PROCS | ProFunds - ProFund VP Consumer Discretionary | ProFund VP Consumer Discretionary | 5/1/2024 |
| PROE30 | ProFunds - ProFund VP Europe 30 | ProFund VP Europe 30 | 5/1/2024 |
| PROEM | ProFunds - ProFund VP Emerging Markets | ProFund VP Emerging Markets | 5/1/2024 |
| PROFIN | ProFunds - ProFund VP Financials | ProFund VP Financials | 5/1/2024 |
| PROFUD | ProFunds - ProFund VP Falling U.S. Dollar | ProFund VP Falling US Dollar | 5/1/2024 |
| PROGMM | ProFunds - ProFund VP Government Money Market | ProFund VP Government Money Market | 5/1/2024 |
| PROGVP | ProFunds - ProFund VP U.S. Government Plus | ProFund VP U.S. Government Plus | 5/1/2024 |
| PROHC | ProFunds - ProFund VP Health Care | ProFund VP Health Care | 5/1/2024 |
| PROIND | ProFunds - ProFund VP Industrials | ProFund VP Industrials | 5/1/2024 |
| PROINT | ProFunds - ProFund VP International | ProFund VP International | 5/1/2024 |
| PROJP | ProFunds - ProFund VP Japan | ProFund VP Japan | 5/1/2024 |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | |
|:---|:---|:---|:---|
| PROLCG | ProFunds - ProFund VP Large-Cap Growth | ProFund VP Large-Cap Growth | 5/1/2024 |
| PROLCV | ProFunds - ProFund VP Large-Cap Value | ProFund VP Large-Cap Value | 5/1/2024 |
| PROMC | ProFunds - ProFund VP Mid-Cap | ProFund VP Mid-Cap | 5/1/2024 |
| PROMCG | ProFunds - ProFund VP Mid-Cap Growth | ProFund VP Mid-Cap Growth | 5/1/2024 |
| PROMCV | ProFunds - ProFund VP Mid-Cap Value | ProFund VP Mid-Cap Value | 5/1/2024 |
| PRON | ProFunds - ProFund VP Nasdaq-100 | ProFund VP NASDAQ-100 | 5/1/2024 |
| PRONET | ProFunds - ProFund VP Internet | ProFund VP Internet | 5/1/2024 |
| PROOG | ProFunds - ProFund VP Energy | ProFund VP Energy | 5/1/2024 |
| PROPHR | ProFunds - ProFund VP Pharmaceuticals | ProFund VP Pharmaceuticals | 5/1/2024 |
| PROPM | ProFunds - ProFund VP Precious Metals | ProFund VP Precious Metals | 5/1/2024 |
| PRORE | ProFunds - ProFund VP Real Estate | ProFund VP Real Estate | 5/1/2024 |
| PRORRO | ProFunds - ProFund VP Rising Rates Opportunity | ProFund VP Rising Rates Opportunity | 5/1/2024 |
| PROSC | ProFunds - ProFund VP Small-Cap | ProFund VP Small-Cap | 5/1/2024 |
| PROSCG | ProFunds - ProFund VP Small-Cap Growth | ProFund VP Small-Cap Growth | 5/1/2024 |
| PROSCN | ProFunds - ProFund VP Semiconductor | ProFund VP Semiconductor | 5/1/2024 |
| PROSCV | ProFunds - ProFund VP Small-Cap Value | ProFund VP Small-Cap Value | 5/1/2024 |
| PROSEM | ProFunds - ProFund VP Short Emerging Markets | ProFund VP Short Emerging Markets | 5/1/2024 |
| PROSIN | ProFunds - ProFund VP Short International | ProFund VP Short International | 5/1/2024 |
| PROSMC | ProFunds - ProFund VP Short Mid-Cap | ProFund VP Short Mid-Cap | 5/1/2024 |
| PROSN | ProFunds - ProFund VP Short Nasdaq-100 | ProFund VP Short NASDAQ-100 | 5/1/2024 |
| PROSSC | ProFunds - ProFund VP Short Small-Cap | ProFund VP Short Small-Cap | 5/1/2024 |
| PROTEC | ProFunds - ProFund VP Technology | ProFund VP Technology | 5/1/2024 |
| PROTEL | ProFunds - ProFund VP Communication Services | ProFund VP Communication Sevices | 5/1/2024 |
| PROUB | ProFunds - ProFund VP UltraBull | ProFund VP UltraBull | 5/1/2024 |
| PROUMC | ProFunds - ProFund VP UltraMid-Cap | ProFund VP UltraMid-Cap | 5/1/2024 |
| PROUN | ProFunds - ProFund VP UltraNasdaq-100 | ProFund VP UltraNASDAQ-100 | 5/1/2024 |
| PROUSC | ProFunds - ProFund VP UltraSmall-Cap | ProFund VP UltraSmall-Cap | 5/1/2024 |
| PROUSN | ProFunds - ProFund VP UltraShort Nasdaq-100 | ProFund VP UltraShort NASDAQ-100 | 5/1/2024 |
| PROUTL | ProFunds - ProFund VP Utilities | ProFund VP Utilities | 5/1/2024 |

---

The contract owners' equity is affected by the investment results of each fund, equity transactions by contract owners and certain contract expenses (see note 2). The accompanying financial statements include only contract owners' purchase payments pertaining to the variable portions of their contracts and exclude any purchase payments for fixed dollar benefits, the latter being included in the accounts of the Company.

A purchase payment could be presented as a negative equity transaction in the Statements of Changes in Contract Owners' Equity if a prior period purchase payment is refunded to a contract owner due to a contract cancellation during the free look period, and/or if a gain is realized by the contract owner during the free look period.

The Company allocates purchase payments to subaccounts and/or the fixed account as instructed by the contract owner. Shares of the subaccounts are purchased at Net Asset Value, then converted into accumulation units. Certain transactions may be subject to conditions imposed by the underlying mutual funds, as well as those set forth in the contract.

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

*(c) Security Valuation, Transactions and Related Investment Income* 

Investments in underlying mutual funds are valued at the closing Net Asset Value per share at December 31, 2024 of such funds. The cost of investments sold is determined on a first in - first out basis. Investment transactions are accounted for on the trade date (date the order to buy or sell is executed), and dividends and capital gain distributions are accrued as of the ex-dividend date and are reinvested in the underlying mutual funds.

*(d) Federal Income Taxes* 

Operations of the Separate Account form a part of, and are taxed with, operations of the Company which is taxed as a life insurance company under the Internal Revenue Code. The Company does not provide for income taxes within the Separate Account. Taxes are generally the responsibility of the contract owner upon termination or withdrawal.

*(e) Use of Estimates in the Preparation of Financial Statements* 

The preparation of financial statements in conformity with U.S. generally accepted accounting principles may require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, if any, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

*(f) Calculation of Annuity Reserves* 

At each financial reporting date, the Separate Account financial statements include an aggregate amount of net assets allocated to future contract benefits for the contracts in the payout (annuitization) period. The payout (annuitization) period begins when amounts accumulated under the contract (the contract value) are applied according to the payment method selected by the contract owner.

Annuity reserves are computed for contracts in the variable payout stage according to industry standard mortality tables. The assumed investment return is 3.5% unless the annuitant elects otherwise, in which case the rate may vary from 3.5% to 6%, as regulated by the laws of the respective states. The mortality risk is fully borne by the Company and may result in additional amounts being transferred into the Separate Account by the Company to cover greater longevity of annuitants than expected. Conversely, if reserves exceed amounts required, transfers may be made to the Company.

*(g) Adjustments to Maintain reserves (ATM)* 

Adjustments to Maintain reserves primarily represent timing related adjustments absorbed by the general account in order to maintain appropriate contract owner account balances.

*(h) Segment Disclosures* 

In this reporting period, each subaccount within the Separate Account adopted FASB Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the financial position or the results of operations for the subaccounts of the Separate Account. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The subaccounts have acted as single reportable segments and the CODM is Product Development. The CODM assesses subaccount performance including investment results reflected in the net increase (decrease) in contract owners' equity resulting from operations as reported in the Statements of Operations as well as investment income ratios, and total return, within the financial highlights of the notes to the financial statements.

*(i) Subsequent Events* 

The Company evaluated subsequent events through the date the financial statements were issued, and no subsequent events have occurred requiring accrual or disclosure.

**(2) Expenses** 

The Company deducts a monthly subscription charge of $20 to issue and administer each Monument Advisor NY and Monument Advisor Select NY contract. These fees were $192,822 and $163,956 for the years ended December 31, 2024 and 2023, respectively. This charge is recorded as a redemption in the accompanying Statements of Changes in Contract Owners' Equity.

The Company deducts a total daily charge from certain low-cost investments of Monument Advisor NY and Monument Advisor Select NY, which is between 0.05% and 0.25% of the daily total net assets depending on the investment option. This fee is charged on the low-cost investments that do not provide the Company with the amount of revenue it requires to meet its revenue targets. These fees were $442,552 and $351,069 for the year ended

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

December 31, 2024 and 2023, respectively. This charge is recorded as a redemption in the accompanying Statements of Changes in Contract Owners' Equity.

Pursuant to an agreement between the Separate Account and the Company (which may be terminated by the Company at any time), the Company provides sales and administrative services to the Separate Account.

**(3) Annuity Benefits** 

Annuity benefit proceeds result in a redemption of the policy value from the Separate Account and payment of those proceeds, less any outstanding policy loans (and policy charges), to the legal beneficiary. For last survivor flexible premium policies, the proceeds are payable on the death of the last surviving insured. In the event that the guaranteed death benefit exceeds the policy value on the date of death, the excess is paid by the Company's general account.

**(4) Related Party Transactions** 

The Company performs various services on behalf of the mutual fund companies in which the Separate Account invests and may receive fees for the services performed. These services include, among other things, shareholder communications, postage, fund transfer agency and various other record keeping and customer service functions. These fees are paid to an affiliate of the Company.

**(5) Fair Value Measurement** 

FASB ASC 820, *Fair Value Measurements and Disclosures*, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, the Separate Account generally uses the market approach as the valuation technique due to the nature of the mutual fund investments offered in the Separate Account. This technique maximizes the use of observable inputs and minimizes the use of unobservable inputs.

In accordance with FASB ASC 820, the Separate Account categorized its financial instruments into a three-level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument in its entirety.

The Separate Account categorizes financial assets recorded at fair value as follows:

• Level 1 – Unadjusted quoted prices accessible in active markets and mutual funds where the value per share (unit) is determined and published and is the basis for current transactions for identical assets or liabilities at the measurement date.

• Level 2 – Unadjusted quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or inputs (other than quoted prices) that are observable or that are derived principally from or corroborated by observable market data through correlation or other means. Primary inputs to this valuation technique may include comparative trades, bid/asks, interest rate movements, U.S. Treasury rates, Secured Overnight Financing Rate, prime rates, cash flows, maturity dates, callability, estimated prepayments and/or underlying collateral values.

• Level 3 – Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management's best estimate about the assumptions market participants would use at the measurement date in pricing the asset or liability. Consideration is given to the risk inherent in both the method of valuation and the valuation inputs.

The investments used by all subaccounts are mutual funds and are valued using daily Net Asset Values (NAVs), which are deemed to approximate fair values. As such, all funds are classified as Level 1 investments.

The cost of purchases and proceeds from sales of investments for the year ended December 31, 2024 are as follows:

---

| | | |
|:---|:---|:---|
| **Subaccount**<br> **Abbreviation\***  | **Purchases of** <br> **Investments** | **Sales of**<br> **Investments**  |
| &nbsp;&nbsp; ABTGB | $50945 | $579 |
| &nbsp;&nbsp; ALVGIA | 96016 | 43411 |
| &nbsp;&nbsp; ALVIVB | 1181 | 965 |
| &nbsp;&nbsp; ALVSVB | 3308 | 38479 |
| &nbsp;&nbsp; APTGBS | 590223 | 215850 |
| &nbsp;&nbsp; ALCAI2 | 1106065 | 340707 |
| &nbsp;&nbsp; ALCGI2 | 150430 | 158934 |
| &nbsp;&nbsp; ALMGI2 | 135247 | 506864 |
| &nbsp;&nbsp; SVDF |  | 118175 |
| &nbsp;&nbsp; SVOF | 99836 | 995 |
| &nbsp;&nbsp; AAEIP3 | 247385 | 253373 |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; AAGEA2 | 782621 | 72471.0 |
| &nbsp;&nbsp; ABEAA2 | 68554 | 93612.0 |
| &nbsp;&nbsp; ACEAA2 | 466945 | 1677.0 |
| &nbsp;&nbsp; AGEAA2 | 320525 | 11639.0 |
| &nbsp;&nbsp; AUGEA2 | 647611 | 3962.0 |
| &nbsp;&nbsp; AMVAA4 | 2579070 | 285571.0 |
| &nbsp;&nbsp; AMVBC4 | 222160 | 41493.0 |
| &nbsp;&nbsp; AMVBD4 | 975049 | 254354.0 |
| &nbsp;&nbsp; AMVCB4 | 657614 | 22253.0 |
| &nbsp;&nbsp; AMVGB4 | 50576 | 9068.0 |
| &nbsp;&nbsp; AMVGG4 | 538591 | 45300.0 |
| &nbsp;&nbsp; AMVGI4 | 383096 | 133484.0 |
| &nbsp;&nbsp; AMVGR4 | 485147 | 467510.0 |
| &nbsp;&nbsp; AMVGS4 | 87061 | 62709.0 |
| &nbsp;&nbsp; AMVGW4 | 117877 | 15110.0 |
| &nbsp;&nbsp; AMVHI4 | 2771139 | 3127343.0 |
| &nbsp;&nbsp; AMVI4 | 5644 | 158121.0 |
| &nbsp;&nbsp; AMVIG4 | 251213 | 8580.0 |
| &nbsp;&nbsp; AMVM4 | 4730 | 320109.0 |
| &nbsp;&nbsp; AMVNW4 | 1339014 | 556457.0 |
| &nbsp;&nbsp; AMVUA4 | 496226 | 144114.0 |
| &nbsp;&nbsp; AVPAP2 | 11551 | 7254.0 |
| &nbsp;&nbsp; AVRBP2 | 23990 | 865.0 |
| &nbsp;&nbsp; PIHYB2 | 3060295 | 2164337.0 |
| &nbsp;&nbsp; PIVB2 | 43248 | 199445.0 |
| &nbsp;&nbsp; PIVEI2 | 5081 | 33423.0 |
| &nbsp;&nbsp; PIVF2 | 319073 | 71495.0 |
| &nbsp;&nbsp; PIVMV2 | 71704 | 3604.0 |
| &nbsp;&nbsp; PIVSI2 | 97813 | 136043.0 |
| &nbsp;&nbsp; BRVED3 | 16069 | 32821.0 |
| &nbsp;&nbsp; BRVHY3 | 239256 | 203134.0 |
| &nbsp;&nbsp; BRVTR3 | 373001 | 25241.0 |
| &nbsp;&nbsp; BVLCC3 | 85435 | 4739.0 |
| &nbsp;&nbsp; BVLCV3 | 950 | 78.0 |
| &nbsp;&nbsp; BVLFG3 | 696695 | 1082334.0 |
| &nbsp;&nbsp; MLVGA3 | 312566 | 107341.0 |
| &nbsp;&nbsp; DSIF | 1294557 | 1197677.0 |
| &nbsp;&nbsp; DSRG | 237062 | 6010.0 |
| &nbsp;&nbsp; DVSCS | 1599318 | 352606.0 |
| &nbsp;&nbsp; CVN1IF | 411873 | 96178.0 |
| &nbsp;&nbsp; CVSBF | 219694 | 17181.0 |
| &nbsp;&nbsp; CLVGT2 | 397445 | 769122.0 |
| &nbsp;&nbsp; CLVLV1 |  | 20330.0 |
| &nbsp;&nbsp; CLVSI2 | 73582 | 561632.0 |
| &nbsp;&nbsp; CLVSV1 | 65107 | 251425.0 |
| &nbsp;&nbsp; CSCRS | 3082 | 5207.0 |
| &nbsp;&nbsp; DWVSVS | 426603 | 43448.0 |
| &nbsp;&nbsp; DFVEA | 5450433 | 3651598.0 |
| &nbsp;&nbsp; DFVGB | 1366944 | 176553.0 |
| &nbsp;&nbsp; DFVGMI | 1538982 | 2327133.0 |
| &nbsp;&nbsp; DFVIS | 645477 | 422002.0 |
| &nbsp;&nbsp; DFVIV | 1194519 | 739296.0 |
| &nbsp;&nbsp; DFVSTF | 1802438 | 329138.0 |
| &nbsp;&nbsp; DFVULV | 1625110 | 673447.0 |
| &nbsp;&nbsp; DFVUTV | 1850443 | 1328975.0 |
| &nbsp;&nbsp; ETVFR | 295405 | 457052.0 |
| &nbsp;&nbsp; FHIB | 191521 | 412825.0 |
| &nbsp;&nbsp; FVK2S | 24850 | 2799.0 |
| &nbsp;&nbsp; FVU2 | 682841 | 127162.0 |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; FB2 | 453000 | 77672.0 |
| &nbsp;&nbsp; FC2 | 1727903 | 593792.0 |
| &nbsp;&nbsp; FDSCS2 | 537792 | 88744.0 |
| &nbsp;&nbsp; FEI2 | 316379 | 1243807.0 |
| &nbsp;&nbsp; FEMS2 | 20477 | 52.0 |
| &nbsp;&nbsp; FG2 | 1700460 | 635460.0 |
| &nbsp;&nbsp; FGI2 | 259439 | 47290.0 |
| &nbsp;&nbsp; FGO2 | 367953 | 1490012.0 |
| &nbsp;&nbsp; FHI2 | 43457 | 24627.0 |
| &nbsp;&nbsp; FIGBP2 | 1872632 | 585580.0 |
| &nbsp;&nbsp; FMC2 | 469514 | 17222.0 |
| &nbsp;&nbsp; FNRS2 | 293503 | 134165.0 |
| &nbsp;&nbsp; FO2 | 392950 | 87600.0 |
| &nbsp;&nbsp; FRESS2 | 19664 | 38703.0 |
| &nbsp;&nbsp; FV2 | 247013 | 607425.0 |
| &nbsp;&nbsp; FVFI2 | 5293 | 35827.0 |
| &nbsp;&nbsp; FVFRHI | 941976 | 106970.0 |
| &nbsp;&nbsp; FVICA2 | 1084651 | 188976.0 |
| &nbsp;&nbsp; FVSIS2 | 1376197 | 199921.0 |
| &nbsp;&nbsp; FVSS2 | 843301 | 36617.0 |
| &nbsp;&nbsp; FEOVF | 735444 | 58652.0 |
| &nbsp;&nbsp; FTVGI2 |  | 235382.0 |
| &nbsp;&nbsp; FTVGR2 | 41625 | 237149.0 |
| &nbsp;&nbsp; FTVIS2 | 92403 | 3610.0 |
| &nbsp;&nbsp; FTVMS2 | 589 | 197.0 |
| &nbsp;&nbsp; FTVRD2 | 100968 | 17837.0 |
| &nbsp;&nbsp; FTVSI2 | 540511 | 42449.0 |
| &nbsp;&nbsp; FTVUG2 | 219262 | 202134.0 |
| &nbsp;&nbsp; GVMSA | 149001 | 8073.0 |
| &nbsp;&nbsp; GVFRB | 743496 | 465915.0 |
| &nbsp;&nbsp; GVR2XS | 341647 | 334383.0 |
| &nbsp;&nbsp; GVTRBE | 823075 | 278820.0 |
| &nbsp;&nbsp; RBF | 135012 | 133891.0 |
| &nbsp;&nbsp; RBKF | 31886 | 66.0 |
| &nbsp;&nbsp; RELF | 826762 | 824241.0 |
| &nbsp;&nbsp; RENF | 122357 | 124140.0 |
| &nbsp;&nbsp; RESF | 540197 | 556151.0 |
| &nbsp;&nbsp; RFSF | 218266 | 170872.0 |
| &nbsp;&nbsp; RHCF | 12816 | 10831.0 |
| &nbsp;&nbsp; RHYS | 327757 | 46696.0 |
| &nbsp;&nbsp; RINF | 264117 | 295553.0 |
| &nbsp;&nbsp; RJNF | 27632 | 33417.0 |
| &nbsp;&nbsp; RLCE |  | 51251.0 |
| &nbsp;&nbsp; RLCJ | 52241 | 50043.0 |
| &nbsp;&nbsp; RLF | 335442 | 390414.0 |
| &nbsp;&nbsp; RMED | 66938 | 22254.0 |
| &nbsp;&nbsp; RMEK | 30177 | 29472.0 |
| &nbsp;&nbsp; RNF |  | 19.0 |
| &nbsp;&nbsp; ROF | 1132893 | 901507.0 |
| &nbsp;&nbsp; RPMF | 43073 | 379691.0 |
| &nbsp;&nbsp; RREF | 612 | 87.0 |
| &nbsp;&nbsp; RRF | 32195 | 34215.0 |
| &nbsp;&nbsp; RTEC | 436004 | 232168.0 |
| &nbsp;&nbsp; RTEL | 102876 | 103882.0 |
| &nbsp;&nbsp; RTRF | 12 | 81.0 |
| &nbsp;&nbsp; RUGB | 167212 | 166354.0 |
| &nbsp;&nbsp; RUTL | 201707 | 112956.0 |
| &nbsp;&nbsp; RVARS | 2882 | 177.0 |
| &nbsp;&nbsp; RVCMD | 18889 | 173323.0 |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; RVF | 1350480 | 1372208.0 |
| &nbsp;&nbsp; RVLCG | 773 | 1943.0 |
| &nbsp;&nbsp; RVLCV | 4432 | 17009.0 |
| &nbsp;&nbsp; RVLDD |  | 48601.0 |
| &nbsp;&nbsp; RVMCG | 568004 | 12292.0 |
| &nbsp;&nbsp; RVMCV | 237130 | 243156.0 |
| &nbsp;&nbsp; RVMFU | 56719 | 69745.0 |
| &nbsp;&nbsp; RVSCG | 11547 | 2014.0 |
| &nbsp;&nbsp; RVSCV |  | 4.0 |
| &nbsp;&nbsp; RVSDL | 9858 | 831.0 |
| &nbsp;&nbsp; RVWDL | 22425 | 21943.0 |
| &nbsp;&nbsp; SBLP | 2138678 | 2144906.0 |
| &nbsp;&nbsp; ACC1 | 187958 | 75990.0 |
| &nbsp;&nbsp; AVHY1 | 1058210 | 1055899.0 |
| &nbsp;&nbsp; AVIE | 2762 | 11171.0 |
| &nbsp;&nbsp; IVBRA2 | 197421 | 176863.0 |
| &nbsp;&nbsp; IVCPB2 | 233 | 84035.0 |
| &nbsp;&nbsp; IVCPBI | 1938265 | 314699.0 |
| &nbsp;&nbsp; IVDDI | 63266 | 89647.0 |
| &nbsp;&nbsp; IVGMMI | 37109350 | 36103042.0 |
| &nbsp;&nbsp; IVGS1 | 5056 | 293.0 |
| &nbsp;&nbsp; IVHS | 242034 | 82442.0 |
| &nbsp;&nbsp; IVKEI1 | 151250 | 168772.0 |
| &nbsp;&nbsp; IVMCC2 | 17535 | 17172.0 |
| &nbsp;&nbsp; IVRE | 4577 | 30566.0 |
| &nbsp;&nbsp; IVT | 946954 | 656624.0 |
| &nbsp;&nbsp; OVGIS | 1340 | 142.0 |
| &nbsp;&nbsp; OVGSS | 3175 | 12197.0 |
| &nbsp;&nbsp; OVIGS | 7955 | 36554.0 |
| &nbsp;&nbsp; WRASP | 440041 | 28873.0 |
| &nbsp;&nbsp; WRBDP | 1155873 | 96064.0 |
| &nbsp;&nbsp; WRBP | 461 | 673.0 |
| &nbsp;&nbsp; WRENG |  | 12222.0 |
| &nbsp;&nbsp; WRGNR | 25499 | 313451.0 |
| &nbsp;&nbsp; WRHIP | 4279454 | 4293482.0 |
| &nbsp;&nbsp; WRLTBP | 106315 | 106249.0 |
| &nbsp;&nbsp; WRMCG | 147939 | 115282.0 |
| &nbsp;&nbsp; WRSTP | 94544 | 48061.0 |
| &nbsp;&nbsp; WRVP | 1031 | 6413.0 |
| &nbsp;&nbsp; JABIN | 737835 | 498746.0 |
| &nbsp;&nbsp; JAEI | 783103 | 388405.0 |
| &nbsp;&nbsp; JAFBS | 20429 | 603.0 |
| &nbsp;&nbsp; JAFRIN | 112256 | 82982.0 |
| &nbsp;&nbsp; JAGRIN | 469449 | 132232.0 |
| &nbsp;&nbsp; JAGSEI | 1370 | 15.0 |
| &nbsp;&nbsp; JAIG | 775024 | 116450.0 |
| &nbsp;&nbsp; JARIN | 307951 | 104535.0 |
| &nbsp;&nbsp; JMCVIN | 468492 | 34607.0 |
| &nbsp;&nbsp; JHEVTN | 472503 | 290241.0 |
| &nbsp;&nbsp; LZREMS | 3685 | 27919.0 |
| &nbsp;&nbsp; LZRIES | 90867 | 214751.0 |
| &nbsp;&nbsp; LZRUSM | 10364 | 109183.0 |
| &nbsp;&nbsp; LPVCAI | 7112 | 169.0 |
| &nbsp;&nbsp; LPVCII | 195676 | 474191.0 |
| &nbsp;&nbsp; LVCLGI | 344207 | 700812.0 |
| &nbsp;&nbsp; SBVHY | 5314 | 102.0 |
| &nbsp;&nbsp; SBVSG2 | 307906 | 626799.0 |
| &nbsp;&nbsp; LACB2 | 991324 | 86999.0 |
| &nbsp;&nbsp; LACDV2 | 183922 | 92328.0 |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; LACI2 | 536194 | 3527 |
| &nbsp;&nbsp; LACIPS | 354060 | 166408 |
| &nbsp;&nbsp; LACLV2 | 40650 | 24137 |
| &nbsp;&nbsp; LACU2 | 677248 | 4271 |
| &nbsp;&nbsp; LACV2 | 19684 | 15560 |
| &nbsp;&nbsp; LOVBD | 2225477 | 2604985 |
| &nbsp;&nbsp; LOVCDG | 63171 | 10609 |
| &nbsp;&nbsp; MEGSS | 132303 | 143372 |
| &nbsp;&nbsp; MNDSC | 42583 | 264675 |
| &nbsp;&nbsp; MVFSC | 21963 | 21531 |
| &nbsp;&nbsp; MVIGSC | 104736 | 139601 |
| &nbsp;&nbsp; MGRFV | 36611 | 97803 |
| &nbsp;&nbsp; DTRTFY | 382930 | 71463 |
| &nbsp;&nbsp; GEM2 | 22230 | 87542 |
| &nbsp;&nbsp; GIG | 206299 | 5701 |
| &nbsp;&nbsp; GVEXD | 4982159 | 1483265 |
| &nbsp;&nbsp; GVIXY | 642018 | 135783 |
| &nbsp;&nbsp; MCIFD | 1003448 | 336747 |
| &nbsp;&nbsp; MSBF | 181412 | 1901 |
| &nbsp;&nbsp; NVAMVX | 2504 | 51 |
| &nbsp;&nbsp; NVBXD | 450926 | 113621 |
| &nbsp;&nbsp; NVFIY | 12279 | 1816 |
| &nbsp;&nbsp; NVGEY | 90025 | 8117 |
| &nbsp;&nbsp; NVLCPY | 537142 | 176480 |
| &nbsp;&nbsp; NVMIVX | 7429 | 20575 |
| &nbsp;&nbsp; NVMLG1 | 920427 | 374536 |
| &nbsp;&nbsp; NVMMV1 | 4875 | 55595 |
| &nbsp;&nbsp; NVNSR1 |  | 26468 |
| &nbsp;&nbsp; NVSIXD | 1979489 | 777361 |
| &nbsp;&nbsp; SAMY | 47597066 | 40785955 |
| &nbsp;&nbsp; TRF | 55225 | 131418 |
| &nbsp;&nbsp; AMCG | 296118 | 376216 |
| &nbsp;&nbsp; AMRI | 722 | 146 |
| &nbsp;&nbsp; AMTB | 104867 | 103957 |
| &nbsp;&nbsp; NALG | 164528 | 8 |
| &nbsp;&nbsp; NAMG | 354909 | 308459 |
| &nbsp;&nbsp; NASCV | 439726 | 194 |
| &nbsp;&nbsp; NOTB2 |  | 118437 |
| &nbsp;&nbsp; NOTBBA | 56496 | 56114 |
| &nbsp;&nbsp; NOTC2 | 3528 | 691 |
| &nbsp;&nbsp; NOVPDI | 124 | 174 |
| &nbsp;&nbsp; NOVPM | 2 |  |
| &nbsp;&nbsp; MNCPS | 293314 | 204180 |
| &nbsp;&nbsp; PMUBAM | 19593 | 369113 |
| &nbsp;&nbsp; PMVAAA | 32404 | 39894 |
| &nbsp;&nbsp; PMVEBA | 4529783 | 4478335 |
| &nbsp;&nbsp; PMVFBA | 4072 | 80905 |
| &nbsp;&nbsp; PMVFHA | 161589 | 274353 |
| &nbsp;&nbsp; PMVGBA | 453038 | 18191 |
| &nbsp;&nbsp; PMVHYA | 2299962 | 2181343 |
| &nbsp;&nbsp; PMVID | 3351204 | 1028899 |
| &nbsp;&nbsp; PMVLDA | 177816 | 61402 |
| &nbsp;&nbsp; PMVLGA | 1902091 | 739245 |
| &nbsp;&nbsp; PMVRRA | 51859 | 1015639 |
| &nbsp;&nbsp; PMVRSA | 118329 | 107493 |
| &nbsp;&nbsp; PMVTRA | 1688262 | 414342 |
| &nbsp;&nbsp; PVGCBA | 121210 | 4490 |
| &nbsp;&nbsp; PVGMAA | 20557 | 16227 |
| &nbsp;&nbsp; PVSTA | 1678278 | 681432 |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; PROA30 | 39452 | 42437.0 |
| &nbsp;&nbsp; PROAHY | 11230 | 5784.0 |
| &nbsp;&nbsp; PROBIO | 258396 | 249710.0 |
| &nbsp;&nbsp; PROBL | 3750266 | 3854430.0 |
| &nbsp;&nbsp; PROBM |  | 8228.0 |
| &nbsp;&nbsp; PROBNK | 426906 | 448537.0 |
| &nbsp;&nbsp; PROCG | 186689 | 212474.0 |
| &nbsp;&nbsp; PROCS | 85251 | 255768.0 |
| &nbsp;&nbsp; PROEM | 310762 | 291613.0 |
| &nbsp;&nbsp; PROFIN | 214537 | 181036.0 |
| &nbsp;&nbsp; PROGVP | 136051 | 131625.0 |
| &nbsp;&nbsp; PROHC | 227068 | 171490.0 |
| &nbsp;&nbsp; PROIND | 853888 | 705081.0 |
| &nbsp;&nbsp; PROINT | 299231 | 304399.0 |
| &nbsp;&nbsp; PROJP | 374565 | 189887.0 |
| &nbsp;&nbsp; PROLCG | 611 | 35819.0 |
| &nbsp;&nbsp; PROLCV |  | 406880.0 |
| &nbsp;&nbsp; PROMC | 32617 | 101171.0 |
| &nbsp;&nbsp; PROMCG | 69536 | 66991.0 |
| &nbsp;&nbsp; PROMCV | 588 | 8624.0 |
| &nbsp;&nbsp; PRON | 806132 | 598196.0 |
| &nbsp;&nbsp; PRONET | 272404 | 333408.0 |
| &nbsp;&nbsp; PROOG | 375897 | 441144.0 |
| &nbsp;&nbsp; PROPM | 867 | 1073.0 |
| &nbsp;&nbsp; PRORE | 151171 | 6295.0 |
| &nbsp;&nbsp; PRORRO | 30397 | 10644.0 |
| &nbsp;&nbsp; PROSC | 44074 | 3105.0 |
| &nbsp;&nbsp; PROSCG | 273707 | 242909.0 |
| &nbsp;&nbsp; PROSCN | 1085776 | 928927.0 |
| &nbsp;&nbsp; PROSCV | 73524 | 77324.0 |
| &nbsp;&nbsp; PROSEM | 46831 | 44340.0 |
| &nbsp;&nbsp; PROTEC | 330470 | 185479.0 |
| &nbsp;&nbsp; PROTEL | 79316 | 78473.0 |
| &nbsp;&nbsp; PROUB | 65020 | 34907.0 |
| &nbsp;&nbsp; PROUN | 6339128 | 6219226.0 |
| &nbsp;&nbsp; PROUSC | 60273 | 61721.0 |
| &nbsp;&nbsp; PROUSN | 865584 | 868764.0 |
| &nbsp;&nbsp; PROUTL | 500848 | 500423.0 |
| &nbsp;&nbsp; PVEIB | 3470373 | 480466.0 |
| &nbsp;&nbsp; PVHYB | 2299512 | 2180231.0 |
| &nbsp;&nbsp; PVIB | 369 | 63.0 |
| &nbsp;&nbsp; PVNOB | 2052235 | 12941.0 |
| &nbsp;&nbsp; ROCMC | 54040 | 94955.0 |
| &nbsp;&nbsp; ROCSC | 51656 | 71783.0 |
| &nbsp;&nbsp; TRBCG2 | 1037375 | 1270413.0 |
| &nbsp;&nbsp; TREI2 | 116219 | 31291.0 |
| &nbsp;&nbsp; TRHS2 | 981012 | 694918.0 |
| &nbsp;&nbsp; TRLT2 | 45860 | 101875.0 |
| &nbsp;&nbsp; TRMCG2 | 41393 | 1995.0 |
| &nbsp;&nbsp; TAVV | 255970 | 141937.0 |
| &nbsp;&nbsp; VVGGS | 76954 | 63817.0 |
| &nbsp;&nbsp; VWBF | 21035 | 30191.0 |
| &nbsp;&nbsp; VWEM | 28138 | 159560.0 |
| &nbsp;&nbsp; VWHA | 3988 | 166837.0 |
| &nbsp;&nbsp; VVB | 3604300 | 1032167.0 |
| &nbsp;&nbsp; VVCA | 88195 | 24697.0 |
| &nbsp;&nbsp; VVCG | 670677 | 796635.0 |
| &nbsp;&nbsp; VVDV | 1232887 | 360634.0 |
| &nbsp;&nbsp; VVEI | 2163777 | 1040687.0 |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; VVEIX | 4098630.0 | 1785575.0 |
| &nbsp;&nbsp; VVG | 1518589.0 | 2710621.0 |
| &nbsp;&nbsp; VVGBI | 530639.0 | 70847.0 |
| &nbsp;&nbsp; VVHGB | 5892810.0 | 1803628.0 |
| &nbsp;&nbsp; VVHYB | 725048.0 | 716072.0 |
| &nbsp;&nbsp; VVI | 1924609.0 | 2030679.0 |
| &nbsp;&nbsp; VVMA | 232262.0 | 26689.0 |
| &nbsp;&nbsp; VVMCI | 4251955.0 | 421361.0 |
| &nbsp;&nbsp; VVREI | 1572914.0 | 298109.0 |
| &nbsp;&nbsp; VVSCG | 239745.0 | 28319.0 |
| &nbsp;&nbsp; VVSTC | 3052097.0 | 2155570.0 |
| &nbsp;&nbsp; VVTISI | 4881158.0 | 517369.0 |
| &nbsp;&nbsp; VVTSM | 11561884.0 | 3631523.0 |
| &nbsp;&nbsp; VRVDIA | 5482.0 | 76554.0 |
| &nbsp;&nbsp; VRVDRA | 265904.0 | 76229.0 |
| &nbsp;&nbsp; VRVNMA | 374111.0 | 63607.0 |

---

\* Represents abbreviation of investment name. For full investment name and related abbreviation, see note 1(b).

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

**(6) Financial Highlights** 

The Company offers several variable annuity products through the Separate Account that have unique combinations of features and fees that are assessed to the contract owner. Differences in fee structures result in a variety of contract expense rates, unit fair values and total returns. The following tabular presentation is a summary of units, unit fair values, contract owners' equity outstanding and contract expense rates for variable annuity contracts as of December 31, 2024, and the investment income ratio and total return for each of the periods in the five-year period ended December 31, 2024. The information is presented as value or a range of minimum to maximum values based upon product grouping. The range is determined by identifying the lowest and the highest contract expense rate, unit fair value, and total return for contracts with units outstanding as of the balance sheet date. Accordingly, some individual contract amounts may not be within the ranges presented. Total return and investment income ratio for periods with no ending Contract Owners' Equity were considered to be irrelevant, and therefore are not presented. Contract Owners' Equity presented below may not agree to the Contract Owners' Equity presented in the Statements of Changes in Contract Owners' Equity due to reserves for annuity contracts in payout.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Portfolio: Class B (ABTGB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2973 | $28.80 | $85623 | 0.00% | 5.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1225 | 27.18 | 33297 | 0.05% | 15.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1235 | 23.49 | 29006 | 0.00% | -27.17% |
|  **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Relative Value Portfolio: Class A (ALVGIA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10811 | 44.20 | 477868 | 1.43% | 13.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9950 | 39.11 | 389161 | 1.60% | 12.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8627 | 34.91 | 301178 | 1.40% | -4.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 8824 | 36.44 | 321553 | 0.80% | 28.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6665 | 28.43 | 189508 | 1.58% | 2.72% |
|  **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS International Value Portfolio: Class B (ALVIVB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 5170 | 9.64 | 49819 | 2.33% | 4.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 5270 | 9.19 | 48449 | 0.70% | 14.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 5354 | 8.01 | 42863 | 4.19% | -13.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 5423 | 9.29 | 50364 | 1.68% | 10.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5725 | 8.38 | 47964 | 0.78% | 2.21% |
|  **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)** | **AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Discovery Value Portfolio: Class B (ALVSVB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1421 | 40.92 | 58147 | 0.60% | 9.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2439 | 37.29 | 90953 | 0.79% | 16.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2946 | 31.91 | 93998 | 0.89% | -15.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6334 | 37.91 | 240092 | 0.66% | 35.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 8034 | 27.95 | 224589 | 0.69% | 3.05% |
|  **Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)** | **Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)** | **Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)** | **Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)** | **Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)** | **Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)** | **Advisors Preferred Trust - Gold Bullion Strategy Portfolio (APTGBS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 68617 | 15.53 | 1065714 | 8.60% | 24.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 48819 | 12.49 | 609805 | 0.36% | 10.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 21040 | 11.30 | 237824 | 0.00% | -5.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 33669 | 11.91 | 400849 | 11.14% | -5.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 43774 | 12.65 | 553678 | 6.88% | 19.69% |
|  **Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)** | **Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)** | **Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)** | **Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)** | **Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)** | **Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)** | **Alger Capital Appreciation Portfolio - Class I2 Shares (ALCAI2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 9331 | 139.67 | 1303229 | 0.00% | 48.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3043 | 94.29 | 286895 | 0.00% | 43.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3186 | 65.88 | 209902 | 0.00% | -36.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 5386 | 103.78 | 558904 | 0.00% | 19.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6124 | 87.12 | 533493 | 0.00% | 41.75% |
|  **Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)** | **Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)** | **Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)** | **Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)** | **Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)** | **Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)** | **Alger Large Cap Growth Portfolio: Class I-2 Shares (ALCGI2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 380 | 80.78 | 30687 | 0.00% | 42.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 489 | 56.53 | 27633 | 0.00% | 32.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 14430 | 62.11 | 896212 | 0.16% | 67.03% |
|  **Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)** | **Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)** | **Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)** | **Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)** | **Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)** | **Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)** | **Alger Mid Cap Growth Portfolio: Class I-2 Shares (ALMGI2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3503 | 51.70 | 181106 | 0.00% | 21.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 11537 | 42.70 | 492625 | 0.00% | 23.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7973 | 34.67 | 276377 | 0.00% | -36.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7065 | 54.23 | 383102 | 0.00% | 4.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 9416 | 52.04 | 490001 | 0.00% | 64.63% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)** | **Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)** | **Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)** | **Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)** | **Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)** | **Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)** | **Allspring Variable Trust - VT Discovery SMID Cap Growth Fund: Class 2 (SVDF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1703 | 63.88 | 108789 | 0.00% | 20.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2348 | 53.17 | 124863 | 0.00% | -37.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3660 | 85.55 | 313121 | 0.00% | -5.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3460 | 90.09 | 311723 | 0.00% | 62.65% |
|  **Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)** | **Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)** | **Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)** | **Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)** | **Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)** | **Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)** | **Allspring Variable Trust - VT Opportunity Fund: Class 2 (SVOF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1572 | 65.74 | 103375 | 0.05% | 15.05% |
|  **ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)** | **ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)** | **ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)** | **ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)** | **ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)** | **ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)** | **ALPS Variable Investment Trust - ALPS/Alerian Energy Infrastructure Portfolio: Class III (AAEIP3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 7739 | 19.67 | 152186 | 3.00% | 40.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8381 | 13.99 | 117231 | 2.87% | 13.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 22934 | 12.28 | 281618 | 4.86% | 17.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10282 | 10.47 | 107618 | 2.35% | 37.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 20156 | 7.60 | 153127 | 1.98% | -25.12% |
|  **ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)** | **ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)** | **ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)** | **ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)** | **ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)** | **ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)** | **ALPS Variable Investment Trust - Morningstar Aggressive Growth ETF Asset Allocation Portfolio: Class II (AAGEA2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 26864 | 28.18 | 756917 | 4.97% | 14.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2569 | 24.59 | 63171 | 4.22% | 16.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 653 | 21.04 | 13731 | 1.30% | -13.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 876 | 24.23 | 21217 | 1.01% | 18.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1088 | 20.48 | 22281 | 1.90% | 9.96% |
|  **ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)** | **ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)** | **ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)** | **ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)** | **ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)** | **ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)** | **ALPS Variable Investment Trust - Morningstar Balanced ETF Asset Allocation Portfolio: Class II (ABEAA2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 46413 | 22.65 | 1051412 | 1.75% | 10.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 48826 | 20.56 | 1003967 | 2.72% | 12.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 34954 | 18.23 | 637062 | 1.71% | -12.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 35288 | 20.92 | 738268 | 1.34% | 10.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 21966 | 18.88 | 414795 | 2.29% | 9.12% |
|  **ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)** | **ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)** | **ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)** | **ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)** | **ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)** | **ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)** | **ALPS Variable Investment Trust - Morningstar Conservative ETF Asset Allocation Portfolio: Class II (ACEAA2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 45373 | 15.74 | 714119 | 3.25% | 5.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 16028 | 14.95 | 239583 | 7.37% | 7.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 4486 | 13.86 | 62176 | 2.64% | -11.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1949 | 15.72 | 30634 | 1.42% | 2.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1957 | 15.37 | 30076 | 7.92% | 6.49% |
|  **ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)** | **ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)** | **ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)** | **ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)** | **ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)** | **ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)** | **ALPS Variable Investment Trust - Morningstar Growth ETF Asset Allocation Portfolio: Class II (AGEAA2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 50916 | 26.00 | 1323955 | 1.66% | 12.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 40257 | 23.08 | 929064 | 2.63% | 15.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 15189 | 20.02 | 304111 | 1.61% | -13.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 15237 | 23.08 | 351672 | 1.25% | 14.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 15283 | 20.09 | 307037 | 2.12% | 10.01% |
|  **ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)** | **ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)** | **ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)** | **ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)** | **ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)** | **ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)** | **ALPS Variable Investment Trust - Morningstar Income and Growth ETF Asset Allocation Portfolio: Class II (AUGEA2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 42687 | 19.07 | 814124 | 3.84% | 7.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9479 | 17.66 | 167439 | 2.15% | 10.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 9589 | 15.97 | 153154 | 1.75% | -12.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 9700 | 18.26 | 177141 | 1.43% | 6.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 9811 | 17.15 | 168288 | 1.22% | 8.43% |
|  **American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)** | **American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)** | **American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)** | **American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)** | **American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)** | **American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)** | **American Funds Insurance Series(R) - Asset Allocation Fund: Class 4 (AMVAA4)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 168413 | 23.34 | 3931333 | 2.72% | 16.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 72822 | 20.10 | 1464035 | 2.02% | 14.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 76717 | 17.63 | 1352652 | 1.73% | -13.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 73513 | 20.42 | 1501271 | 1.47% | 14.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 62804 | 17.78 | 1116818 | 1.52% | 12.16% |
|  **American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)** | **American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)** | **American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)** | **American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)** | **American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)** | **American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)** | **American Funds Insurance Series(R) - Washington Mutual Investors Fund: Class 4 (AMVBC4)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 32264 | 30.99 | 999734 | 1.58% | 18.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 26909 | 26.07 | 701548 | 1.97% | 16.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 20921 | 22.29 | 466300 | 1.78% | -8.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10360 | 24.41 | 252869 | 1.76% | 27.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5376 | 19.14 | 102908 | 1.33% | 8.47% |
|  **American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)** | **American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)** | **American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)** | **American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)** | **American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)** | **American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)** | **American Funds Insurance Series(R) - The Bond Fund of America: Class 4 (AMVBD4)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 169631 | 12.01 | 2037067 | 4.94% | 0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 117076 | 11.89 | 1392343 | 3.30% | 4.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 114206 | 11.36 | 1296952 | 2.69% | -12.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 57105 | 13.02 | 743256 | 1.46% | -0.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 30670 | 13.09 | 401545 | 2.33% | 9.38% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)** | **American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)** | **American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)** | **American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)** | **American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)** | **American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)** | **American Funds Insurance Series(R) - Capital Income Builder(R): Class 4 (AMVCB4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 105402 | 14.87 | 1567732 | 3.65% | 9.93% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 65848 | 13.53 | 890937 | 3.19% | 8.76% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 30253 | 12.44 | 376378 | 2.69% | -7.37% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 23646 | 13.43 | 317595 | 2.51% | 14.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 22539 | 11.71 | 263977 | 2.67% | 4.11% |  |
|  **American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)** | **American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)** | **American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)** | **American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)** | **American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)** | **American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)** | **American Funds Insurance Series(R) - Capital World Bond Fund: Class 4 (AMVGB4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 28537 | 9.77 | 278934 | 1.98% | -3.32% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 24866 | 10.11 | 251411 | 0.00% | 5.89% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 26257 | 9.55 | 250695 | 0.21% | -17.84% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 25219 | 11.62 | 293078 | 1.75% | -5.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 15351 | 12.26 | 188137 | 0.98% | 9.62% |  |
|  **American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)** | **American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)** | **American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)** | **American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)** | **American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)** | **American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)** | **American Funds Insurance Series(R) - Global Growth Fund: Class 4 (AMVGG4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 35776 | 18.77 | 671660 | 1.52% | 13.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9892 | 16.56 | 163789 | 0.70% | 22.29% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 10410 | 13.54 | 140938 | 0.48% | -24.92% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10459 | 18.03 | 188609 | 0.17% | 16.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1687 | 15.53 | 26194 | 0.16% | 30.17% |  |
|  **American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)** | **American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)** | **American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)** | **American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)** | **American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)** | **American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)** | **American Funds Insurance Series(R) - Growth-Income Fund: Class 4 (AMVGI4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 54157 | 35.52 | 1923520 | 1.00% | 23.92% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 49726 | 28.66 | 1425230 | 1.14% | 25.82% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 59181 | 22.78 | 1348086 | 1.23% | -16.71% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 43986 | 27.35 | 1202912 | 1.09% | 23.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 24442 | 22.09 | 539936 | 1.18% | 13.25% |  |
|  **American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)** | **American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)** | **American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)** | **American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)** | **American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)** | **American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)** | **American Funds Insurance Series(R) - Growth Fund: Class 4 (AMVGR4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 39106 | 50.96 | 1992710 | 0.17% | 31.30% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 40018 | 38.81 | 1553094 | 0.18% | 38.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 40455 | 28.10 | 1136612 | 0.11% | -30.11% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 38692 | 40.20 | 1555505 | 0.06% | 21.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 30559 | 33.04 | 1009610 | 0.20% | 51.71% |  |
|  **American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)** | **American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)** | **American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)** | **American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)** | **American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)** | **American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)** | **American Funds Insurance Series(R) - Global Small Capitalization Fund: Class 4 (AMVGS4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 18499 | 13.16 | 243416 | 0.83% | 2.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 17675 | 12.89 | 227757 | 0.03% | 15.79% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 15431 | 11.13 | 171729 | 0.00% | -29.69% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6845 | 15.83 | 108340 | 0.00% | 6.43% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2504 | 14.87 | 37239 | 0.13% | 29.39% |  |
|  **American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)** | **American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)** | **American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)** | **American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)** | **American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)** | **American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)** | **American Funds Insurance Series(R) - Capital World Growth and Income Fund: Class 4 (AMVGW4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 21101 | 16.34 | 344798 | 1.91% | 13.70% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 15290 | 14.37 | 219743 | 2.65% | 20.65% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7751 | 11.91 | 92326 | 3.64% | -17.57% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1975 | 14.45 | 28544 | 1.14% | 14.46% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1071 | 12.63 | 13522 | 1.13% | 8.55% | \*\*\*\* |
|  **American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)** | **American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)** | **American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)** | **American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)** | **American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)** | **American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)** | **American Funds Insurance Series(R) - American High-Income Trust Fund: Class 4 (AMVHI4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 98412 | 16.61 | 1634922 | 5.28% | 9.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 127218 | 15.19 | 1932118 | 16.63% | 12.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 11783 | 13.54 | 159522 | 3.85% | -9.53% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 5908 | 14.96 | 88413 | 1.25% | 8.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 13118 | 13.83 | 181462 | 5.89% | 7.74% |  |
|  **American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)** | **American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)** | **American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)** | **American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)** | **American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)** | **American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)** | **American Funds Insurance Series(R) - International Fund: Class 4 (AMVI4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 27333 | 14.79 | 404123 | 0.94% | 2.93% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 37724 | 14.36 | 541876 | 0.93% | 15.56% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 56955 | 12.43 | 707974 | 1.49% | -21.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 60848 | 15.74 | 957679 | 2.69% | -1.71% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 36698 | 16.01 | 587650 | 0.42% | 13.66% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)** | **American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)** | **American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)** | **American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)** | **American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)** | **American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)** | **American Funds Insurance Series(R) - International Growth and Income Fund: Class 4 (AMVIG4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 74447 | 12.01 | 893958 | 2.60% | 3.11% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 56276 | 11.65 | 655397 | 2.48% | 15.66% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 55525 | 10.07 | 559109 | 3.28% | -15.52% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 20462 | 11.92 | 243898 | 5.98% | 5.09% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1016 | 11.34 | 11524 | 0.83% | 5.73% |  |
|  **American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)** | **American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)** | **American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)** | **American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)** | **American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)** | **American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)** | **American Funds Insurance Series(R) - American Funds Mortgage Fund: Class 4 (AMVM4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6091 | 11.23 | 68426 | 2.42% | 0.35% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 34900 | 11.20 | 390714 | 3.77% | 3.51% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 32905 | 10.82 | 355889 | 1.59% | -10.16% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2826 | 12.04 | 34025 | 0.25% | -0.78% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2975 | 12.13 | 36098 | 0.69% | 6.38% |  |
|  **American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)** | **American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)** | **American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)** | **American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)** | **American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)** | **American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)** | **American Funds Insurance Series(R) - New World Fund: Class 4 (AMVNW4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 193362 | 17.57 | 3398086 | 1.26% | 6.33% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 152144 | 16.53 | 2514524 | 1.26% | 15.67% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 153802 | 14.29 | 2197598 | 1.17% | -22.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 119126 | 18.38 | 2189296 | 0.72% | 4.63% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 80097 | 17.56 | 1406887 | 0.03% | 23.29% |  |
|  **American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)** | **American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)** | **American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)** | **American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)** | **American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)** | **American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)** | **American Funds Insurance Series(R) - U.S. Government Securities Fund: Class 4 (AMVUA4)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 71522 | 10.74 | 768110 | 5.17% | 0.44% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 41739 | 10.69 | 446271 | 4.18% | 2.62% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 21062 | 10.42 | 219440 | 3.07% | -11.20% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 33408 | 11.73 | 391959 | 0.96% | -0.88% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 38876 | 11.84 | 460134 | 2.10% | 9.48% |  |
|  **American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)** | **American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)** | **American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)** | **American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)** | **American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)** | **American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)** | **American Funds Insurance Series(R) - Managed Risk Asset Allocation Fund: Class P2 (AVPAP2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 19601 | 18.63 | 365101 | 1.92% | 14.63% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 19990 | 16.25 | 324844 | 1.83% | 10.23% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 20403 | 14.74 | 300776 | 2.21% | -13.97% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 20892 | 17.14 | 358002 | 1.36% | 12.50% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 21333 | 15.23 | 324923 | 1.57% | 5.88% |  |
|  **American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)** | **American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)** | **American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)** | **American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)** | **American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)** | **American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)** | **American Funds Insurance Series(R) - Managed Risk Washington Mutual Investors Fund: Class P2 (AVRBP2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10551 | 18.75 | 197874 | 1.66% | 13.99% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9328 | 16.45 | 153473 | 1.79% | 9.73% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 6924 | 14.99 | 103816 | 4.57% | -9.16% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3924 | 16.51 | 64763 | 1.58% | 17.11% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4574 | 14.09 | 64466 | 1.94% | -1.25% |  |
|  **Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)** | **Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)** | **Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)** | **Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)** | **Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)** | **Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)** | **Pioneer Variable Contracts Trust - Pioneer High Yield VCT Portfolio: Class II (PIHYB2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 34095 | 27.09 | 923735 | 5.60% | 8.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 70177 | 22.50 | 1578759 | 5.04% | -11.44% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 4348 | 25.40 | 110452 | 1.89% | 5.45% | \*\*\*\* |
|  **Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)** | **Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)** | **Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)** | **Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)** | **Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)** | **Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)** | **Pioneer Variable Contracts Trust - Pioneer Bond VCT Portfolio: Class II (PIVB2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 12578 | 18.61 | 234034 | 4.15% | 3.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 21879 | 18.06 | 395156 | 3.74% | 6.70% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 19898 | 16.93 | 336807 | 2.18% | -14.46% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 20012 | 19.79 | 395993 | 2.02% | 0.22% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 34981 | 19.75 | 690709 | 2.80% | 8.42% |  |
|  **Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)** | **Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)** | **Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)** | **Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)** | **Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)** | **Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)** | **Pioneer Variable Contracts Trust - Pioneer Equity Income VCT Portfolio: Class II (PIVEI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 552 | 44.74 | 24690 | 1.80% | 10.97% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1380 | 40.31 | 55618 | 1.50% | 7.17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3702 | 37.61 | 139249 | 1.69% | -7.94% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1470 | 40.86 | 60069 | 1.19% | 25.33% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1030 | 32.60 | 33580 | 2.49% | -0.26% |  |
|  **Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)** | **Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)** | **Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)** | **Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)** | **Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)** | **Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)** | **Pioneer Variable Contracts Trust - Pioneer Fund VCT Portfolio: Class II (PIVF2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 8127 | 66.77 | 542629 | 0.44% | 22.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4281 | 54.59 | 233674 | 0.60% | 28.58% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 4142 | 42.45 | 175864 | 0.60% | -19.68% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)** | **Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)** | **Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)** | **Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)** | **Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)** | **Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)** | **Pioneer Variable Contracts Trust - Pioneer Mid Cap Value VCT Portfolio: Class II (PIVMV2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2727 | 39.41 | 107478 | 1.76% | 10.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1028 | 35.62 | 36612 | 1.49% | 12.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 237 | 31.74 | 7522 | 1.57% | -5.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 237 | 33.73 | 7996 | 0.74% | 29.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 237 | 26.07 | 6179 | 0.96% | 1.87% |
|  **Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)** | **Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)** | **Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)** | **Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)** | **Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)** | **Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)** | **Pioneer Variable Contracts Trust - Pioneer Strategic Income VCT Portfolio: Class II (PIVSI2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 25562 | 20.51 | 524149 | 4.02% | 3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 28509 | 19.74 | 562841 | 3.62% | 8.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 28493 | 18.27 | 520479 | 2.90% | -12.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 28611 | 20.96 | 599633 | 2.96% | 1.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4251 | 20.60 | 87579 | 3.26% | 7.37% |
|  **BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Equity Dividend V.I. Fund: Class III (BRVED3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4281 | 36.79 | 157479 | 2.21% | 9.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 5169 | 33.53 | 173330 | 1.86% | 11.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 4178 | 29.94 | 125118 | 1.01% | -4.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6988 | 31.23 | 218205 | 1.29% | 20.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 8260 | 25.96 | 214405 | 2.11% | 3.57% |
|  **BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund: Class III (BRVHY3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 39149 | 19.74 | 772922 | 6.66% | 7.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 40010 | 18.31 | 732403 | 6.24% | 12.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 40303 | 16.21 | 653453 | 5.22% | -10.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 67028 | 18.13 | 1215005 | 4.21% | 5.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 63085 | 17.23 | 1086877 | 4.96% | 7.04% |
|  **BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)** | **BlackRock Variable Series Funds II, Inc. - BlackRock Total Return V.I. Fund: Class III (BRVTR3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 58802 | 12.31 | 723639 | 3.96% | 1.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 32292 | 12.17 | 392935 | 3.37% | 5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 14914 | 11.54 | 172162 | 1.83% | -14.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 53853 | 13.47 | 725141 | 1.48% | -1.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 71816 | 13.70 | 983680 | 1.79% | 8.55% |
|  **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Core V.I. Fund: Class III (BVLCC3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4012 | 54.23 | 217595 | 0.50% | 25.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2844 | 43.35 | 123292 | 0.85% | 24.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 966 | 34.71 | 33519 | 0.41% | -20.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2207 | 43.47 | 95914 | 0.06% | 28.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1493 | 33.94 | 50676 | 1.10% | 19.50% |
|  **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Advantage Large Cap Value V.I. Fund: Class III (BVLCV3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 149 | 40.96 | 6087 | 1.41% | 16.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 151 | 35.27 | 5311 | 1.29% | 13.37% |
|  **BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Large Cap Focus Growth V.I. Fund: Class III (BVLFG3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10995 | 72.80 | 800444 | 0.00% | 31.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 18223 | 55.41 | 1009680 | 0.00% | 52.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2147 | 36.34 | 78010 | 0.00% | -38.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2502 | 58.85 | 147276 | 0.00% | 17.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2524 | 49.97 | 126119 | 0.00% | 43.43% |
|  **BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)** | **BlackRock Variable Series Funds, Inc. - BlackRock Global Allocation V.I. Fund: Class III (MLVGA3)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 56779 | 21.53 | 1222521 | 1.49% | 8.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 52138 | 19.77 | 1030595 | 2.61% | 12.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 47155 | 17.57 | 828613 | 0.00% | -16.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 45771 | 20.94 | 958315 | 0.82% | 6.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 42986 | 19.68 | 845754 | 1.42% | 20.71% |
|  **BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)** | **BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)** | **BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)** | **BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)** | **BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)** | **BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)** | **BNY Mellon Stock Index Fund, Inc.: Initial Shares (DSIF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 19936 | 36.90 | 735632 | 1.17% | 24.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 18141 | 29.67 | 538324 | 1.36% | 25.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 20910 | 23.62 | 493957 | 1.38% | -18.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 15642 | 28.99 | 453505 | 1.18% | 28.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 9127 | 22.64 | 206590 | 1.43% | 17.71% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)** | **BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)** | **BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)** | **BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)** | **BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)** | **BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)** | **BNY Mellon Sustainable U.S. Equity Portfolio, Inc.: Initial Shares (DSRG)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6311 | 66.43 | 419275 | 0.31% | 24.89% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2548 | 53.19 | 135562 | 0.70% | 23.82% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2471 | 42.96 | 106136 | 0.67% | -22.87% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1295 | 55.70 | 72147 | 0.76% | 27.00% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1367 | 43.86 | 59955 | 0.82% | 24.14% |  |
|  **BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)** | **BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)** | **BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)** | **BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)** | **BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)** | **BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)** | **BNY Mellon Investment Portfolios - Small Cap Stock Index Portfolio: Service Shares (DVSCS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 50459 | 54.33 | 2741450 | 0.77% | 7.96% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 27198 | 50.33 | 1368751 | 1.01% | 15.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 24573 | 43.61 | 1071720 | 0.92% | -16.65% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 27392 | 52.33 | 1433331 | 0.65% | 26.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 29223 | 41.48 | 1212220 | 1.18% | 10.64% |  |
|  **Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)** | **Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)** | **Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)** | **Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)** | **Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)** | **Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)** | **Calvert Variable Trust, Inc. - CVT Nasdaq 100 Index Portfolio: Class F (CVN1IF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 29487 | 10.63 | 313406 | 0.00% | 6.29% | \*\*\*\* |
|  **Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)** | **Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)** | **Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)** | **Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)** | **Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)** | **Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)** | **Calvert Variable Series, Inc. - Calvert VP SRI Balanced Portfolio: Class F (CVSBF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 39741 | 23.30 | 926032 | 1.88% | 18.91% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 32156 | 19.60 | 630118 | 1.62% | 16.42% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 32668 | 16.83 | 549872 | 1.25% | -15.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 31504 | 19.91 | 627295 | 0.93% | 14.72% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4324 | 17.36 | 75050 | 0.59% | 14.76% |  |
|  **Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)** | **Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)** | **Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)** | **Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)** | **Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)** | **Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)** | **Columbia Funds Variable Insurance Trust II - Columbia Variable Portfolio - Seligman Global Technology: Class 2 (CLVGT2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 12119 | 181.33 | 2197506 | 0.00% | 26.58% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 15269 | 143.25 | 2187370 | 0.00% | 44.87% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 15051 | 98.89 | 1488297 | 0.00% | -31.86% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 16134 | 145.12 | 2341295 | 0.21% | 38.69% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5613 | 104.64 | 587342 | 0.00% | 45.80% |  |
|  **Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)** | **Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)** | **Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)** | **Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)** | **Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)** | **Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)** | **Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Select Large Cap Value Fund: Class 1 (CLVLV1)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 7707 | 40.57 | 312633 | 0.00% | 12.86% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8233 | 35.94 | 295913 | 0.00% | 5.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8398 | 34.10 | 286406 | 0.00% | -1.84% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 4064 | 34.74 | 141194 | 0.00% | 26.29% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 10196 | 27.51 | 280509 | 0.00% | 7.08% |  |
|  **Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)** | **Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)** | **Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)** | **Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)** | **Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)** | **Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)** | **Columbia Funds Variable Insurance Trust - Columbia Variable Portfolio - Strategic Income Fund: Class 2 (CLVSI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 30705 | 13.21 | 405563 | 3.72% | 4.51% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 70477 | 12.64 | 890740 | 3.73% | 9.20% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 56106 | 11.57 | 649356 | 2.31% | -11.52% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 48241 | 13.08 | 630996 | 5.22% | 1.63% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 33591 | 12.87 | 432336 | 3.53% | 6.62% |  |
|  **Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)** | **Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)** | **Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)** | **Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)** | **Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)** | **Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)** | **Columbia Funds Variable Trust II - Columbia Variable Portfolio - Select Small Cap Value Fund: Class 1 (CLVSV1)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3727 | 32.86 | 122455 | 0.00% | 13.93% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9312 | 28.84 | 268541 | 0.00% | 13.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 11605 | 25.49 | 295798 | 0.00% | -14.71% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 11385 | 29.88 | 340219 | 0.00% | 30.93% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 7789 | 22.82 | 177774 | 0.00% | 9.19% |  |
|  **Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)** | **Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)** | **Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)** | **Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)** | **Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)** | **Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)** | **Credit Suisse Trust - Commodity Return Strategy Portfolio: Class 1 (CSCRS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 7172 | 7.50 | 53776 | 3.01% | 4.83% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 7674 | 7.15 | 54891 | 18.53% | -9.11% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7786 | 7.87 | 61274 | 17.49% | 16.03% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10555 | 6.78 | 71596 | 7.17% | 27.90% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4383 | 5.30 | 23244 | 5.64% | -1.48% |  |
|  **Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)** | **Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)** | **Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)** | **Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)** | **Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)** | **Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)** | **Delaware VIP Trust - Macquarie VIP Small Cap Value Series: Service Class (DWVSVS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 30275 | 20.29 | 614124 | 1.02% | 11.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 12456 | 18.27 | 227598 | 0.65% | 9.10% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 12594 | 16.75 | 210929 | 0.63% | -12.36% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 14164 | 19.11 | 270675 | 0.81% | 34.01% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 21855 | 14.26 | 311638 | 1.10% | -2.18% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)** | **DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)** | **DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)** | **DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)** | **DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)** | **DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)** | **DFA Investment Dimensions Group Inc. - VA Equity Allocation Portfolio: Institutional Class (DFVEA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 544567 | 18.98 | 10336054 | 2.09% | 14.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 464369 | 16.53 | 7676901 | 2.65% | 19.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 325617 | 13.79 | 4491661 | 1.98% | -13.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 276735 | 16.02 | 4433451 | 2.66% | 24.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 120707 | 12.91 | 1558704 | 2.46% | 11.88% |
|  **DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)** | **DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)** | **DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)** | **DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)** | **DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)** | **DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)** | **DFA Investment Dimensions Group Inc. - VA Global Bond Portfolio (DFVGB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 312662 | 11.65 | 3640984 | 6.04% | 5.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 223392 | 11.08 | 2474712 | 4.30% | 4.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 204509 | 10.57 | 2161940 | 1.64% | -6.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 207961 | 11.31 | 2352959 | 0.78% | -1.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 124195 | 11.46 | 1423516 | 0.03% | 1.21% |
|  **DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)** | **DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)** | **DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)** | **DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)** | **DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)** | **DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)** | **DFA Investment Dimensions Group Inc. - VA Global Moderate Allocation Portfolio: Institutional Class (DFVGMI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 268305 | 19.28 | 5172475 | 2.57% | 11.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 319284 | 17.26 | 5510074 | 2.79% | 14.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 295016 | 15.08 | 4448898 | 1.81% | -11.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 172997 | 16.98 | 2937185 | 1.52% | 13.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 158236 | 14.90 | 2358318 | 1.20% | 11.01% |
|  **DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)** | **DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)** | **DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)** | **DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)** | **DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)** | **DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)** | **DFA Investment Dimensions Group Inc. - VA International Small Portfolio (DFVIS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 153247 | 16.40 | 2512938 | 3.49% | 3.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 148261 | 15.83 | 2347689 | 3.11% | 13.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 152942 | 13.91 | 2127626 | 2.71% | -17.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 125377 | 16.93 | 2123116 | 2.77% | 14.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 103303 | 14.82 | 1530738 | 2.35% | 9.14% |
|  **DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)** | **DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)** | **DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)** | **DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)** | **DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)** | **DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)** | **DFA Investment Dimensions Group Inc. - VA International Value Portfolio (DFVIV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 267435 | 15.67 | 4190334 | 4.32% | 6.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 254610 | 14.73 | 3751014 | 4.42% | 17.57% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 291117 | 12.53 | 3648044 | 3.52% | -3.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 352429 | 13.01 | 4585929 | 4.37% | 17.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 316208 | 11.04 | 3492304 | 2.81% | -2.01% |
|  **DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)** | **DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)** | **DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)** | **DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)** | **DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)** | **DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)** | **DFA Investment Dimensions Group Inc. - VA Short-Term Fixed Portfolio (DFVSTF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 430840 | 11.37 | 4898758 | 5.61% | 5.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 318213 | 10.81 | 3438696 | 3.64% | 4.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 343327 | 10.32 | 3542854 | 1.57% | -1.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 260749 | 10.47 | 2729001 | 0.01% | -0.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 231592 | 10.51 | 2434534 | 0.76% | 0.35% |
|  **DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Large Value Portfolio (DFVULV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 214095 | 24.08 | 5155697 | 2.24% | 13.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 201030 | 21.29 | 4280376 | 2.10% | 10.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 210944 | 19.24 | 4059325 | 2.16% | -5.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 215169 | 20.28 | 4363854 | 1.80% | 26.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 219805 | 16.00 | 3517921 | 2.41% | -1.62% |
|  **DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)** | **DFA Investment Dimensions Group Inc. - VA U.S. Targeted Value Portfolio (DFVUTV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 219880 | 24.94 | 5484153 | 1.48% | 7.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 216675 | 23.12 | 5010092 | 1.59% | 19.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 215946 | 19.31 | 4170257 | 1.42% | -4.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 181117 | 20.21 | 3660641 | 1.61% | 39.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 137718 | 14.51 | 1997734 | 2.32% | 3.72% |
|  **Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)** | **Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)** | **Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)** | **Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)** | **Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)** | **Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)** | **Eaton Vance Variable Trust - Eaton Vance VT Floating-Rate Income Fund: Initial Class (ETVFR)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 117621 | 17.57 | 2066999 | 7.90% | 7.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 137158 | 16.32 | 2238413 | 8.17% | 11.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 231617 | 14.67 | 3398906 | 4.80% | -2.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 131675 | 15.09 | 1986670 | 2.86% | 3.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 33482 | 14.56 | 487491 | 3.59% | 2.00% |
|  **Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)** | **Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)** | **Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)** | **Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)** | **Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)** | **Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)** | **Federated Hermes Insurance Series - Federated Hermes High Income Bond Fund II: Primary Shares (FHIB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 11085 | 32.31 | 358194 | 8.27% | 6.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 19593 | 30.41 | 595740 | 4.36% | 12.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 10215 | 26.98 | 275558 | 6.00% | -11.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 13330 | 30.58 | 407615 | 4.50% | 4.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 14556 | 29.16 | 424511 | 5.41% | 5.59% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)** | **Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)** | **Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)** | **Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)** | **Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)** | **Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)** | **Federated Hermes Insurance Series - Federated Hermes Kaufmann Fund II: Service Shares (FVK2S)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 17285 | 41.49 | 717192 | 0.63% | 16.78% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 17340 | 35.53 | 616107 | 0.00% | 14.86% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 17146 | 30.94 | 530426 | 0.00% | -30.26% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 19929 | 44.36 | 883970 | 0.00% | 2.26% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 20413 | 43.37 | 885391 | 0.00% | 28.48% |  |
|  **Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)** | **Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)** | **Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)** | **Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)** | **Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)** | **Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)** | **Federated Hermes Insurance Series - Federated Hermes Managed Volatility Fund II: Primary Shares (FVU2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 31128 | 37.37 | 1163355 | 2.49% | 15.56% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 15176 | 32.34 | 490805 | 1.78% | 8.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 13810 | 29.76 | 410973 | 1.90% | -13.75% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 14417 | 34.50 | 497439 | 1.70% | 18.51% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 13656 | 29.11 | 397591 | 1.94% | 0.93% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)** | **Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)** | **Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)** | **Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)** | **Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)** | **Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)** | **Fidelity Variable Insurance Products Fund - VIP Balanced Portfolio: Service Class 2 (FB2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 39103 | 37.28 | 1457958 | 1.90% | 15.63% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 30123 | 32.25 | 971331 | 1.48% | 21.23% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 38620 | 26.60 | 1027184 | 1.05% | -18.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 64096 | 32.51 | 2083756 | 0.81% | 17.99% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 43376 | 27.55 | 1195141 | 1.21% | 22.13% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)** | **Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)** | **Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)** | **Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)** | **Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)** | **Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)** | **Fidelity Variable Insurance Products Fund - VIP Contrafund(R) Portfolio: Service Class 2 (FC2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 63907 | 61.42 | 3925101 | 0.03% | 33.45% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 52264 | 46.02 | 2405411 | 0.28% | 33.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 63311 | 34.57 | 2188942 | 0.28% | -26.49% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 58846 | 47.03 | 2767667 | 0.03% | 27.51% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 82544 | 36.89 | 3044649 | 0.06% | 30.23% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)** | **Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)** | **Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)** | **Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)** | **Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)** | **Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)** | **Fidelity Variable Insurance Products Fund - VIP Disciplined Small Cap Portfolio: Service Class 2 (FDSCS2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 19599 | 40.91 | 801751 | 0.93% | 16.57% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 7718 | 35.09 | 270845 | 0.95% | 20.67% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 5725 | 29.08 | 166489 | 0.60% | -18.45% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 5191 | 35.66 | 185127 | 0.19% | 20.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3324 | 29.62 | 98462 | 0.66% | 18.12% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)** | **Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)** | **Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)** | **Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)** | **Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)** | **Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)** | **Fidelity Variable Insurance Products Fund - VIP Equity-Income Portfolio: Service Class 2 (FEI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 12721 | 41.01 | 521727 | 1.02% | 15.06% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 37451 | 35.65 | 1334989 | 1.91% | 10.38% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 32245 | 32.29 | 1041349 | 2.04% | -5.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 16141 | 34.08 | 550139 | 1.46% | 24.60% |  |
|  **Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)** | **Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)** | **Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)** | **Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)** | **Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)** | **Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)** | **Fidelity Variable Insurance Products - Emerging Markets Portfolio: Service Class 2 (FEMS2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1911 | 10.45 | 19968 | 1.15% | 4.48% | \*\*\*\* |
|  **Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Portfolio: Service Class 2 (FG2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 30644 | 83.53 | 2559724 | 0.00% | 30.07% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 23592 | 64.22 | 1515066 | 0.00% | 35.89% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 9317 | 47.26 | 440316 | 0.28% | -24.64% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 46534 | 62.71 | 2918311 | 0.00% | 22.90% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 24757 | 51.03 | 1263276 | 0.03% | 43.55% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)** | **Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)** | **Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)** | **Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)** | **Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)** | **Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)** | **Fidelity Variable Insurance Products Fund - VIP Growth & Income Portfolio: Service Class 2 (FGI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6564 | 53.49 | 351083 | 2.08% | 21.96% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2984 | 43.86 | 130883 | 2.03% | 18.37% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3152 | 37.05 | 116788 | 1.87% | -5.17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2300 | 39.07 | 89873 | 2.77% | 25.64% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2218 | 31.10 | 68979 | 1.48% | 7.59% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)** | **Fidelity Variable Insurance Products Fund - VIP Growth Opportunities Portfolio: Service Class 2 (FGO2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 16171 | 104.25 | 1685885 | 0.00% | 38.56% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 29293 | 75.24 | 2203992 | 0.00% | 45.30% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 18482 | 51.78 | 957032 | 0.00% | -38.32% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 24514 | 83.95 | 2057865 | 0.00% | 11.67% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 35957 | 75.18 | 2703069 | 0.00% | 68.23% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)** | **Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)** | **Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)** | **Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)** | **Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)** | **Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)** | **Fidelity Variable Insurance Products Fund - VIP High Income Portfolio: Service Class 2 (FHI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4666 | 18.61 | 86807 | 6.64% | 8.62% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3884 | 17.13 | 66528 | 5.54% | 10.24% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3860 | 15.54 | 59982 | 4.52% | -11.67% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2367 | 17.59 | 41632 | 2.77% | 4.29% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 23173 | 16.87 | 390891 | 2.78% | 2.42% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)** | **Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)** | **Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)** | **Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)** | **Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)** | **Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)** | **Fidelity Variable Insurance Products Fund - VIP Investment Grade Bond Portfolio: Service Class 2 (FIGBP2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 338825 | 13.74 | 4655990 | 3.47% | 1.50% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 253913 | 13.54 | 3437638 | 2.40% | 6.00% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 266287 | 12.77 | 3401082 | 3.25% | -13.21% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 128681 | 14.72 | 1893748 | 1.92% | -0.90% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 142568 | 14.85 | 2117078 | 1.89% | 9.16% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)** | **Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)** | **Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)** | **Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)** | **Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)** | **Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)** | **Fidelity Variable Insurance Products Fund - VIP Mid Cap Portfolio: Service Class 2 (FMC2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 20612 | 35.80 | 737860 | 0.48% | 17.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 10239 | 30.55 | 312816 | 0.43% | 14.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7047 | 26.61 | 187528 | 0.28% | -14.97% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6133 | 31.30 | 191931 | 0.34% | 25.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6712 | 24.98 | 167634 | 0.41% | 17.87% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)** | **Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)** | **Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)** | **Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)** | **Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)** | **Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)** | **Fidelity Variable Insurance Products Fund - VIP Energy Portfolio: Service Class 2 (FNRS2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 16111 | 30.85 | 496986 | 2.03% | 4.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 10902 | 29.66 | 323311 | 2.59% | 0.70% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 11182 | 29.45 | 329314 | 2.06% | 62.87% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 5044 | 18.08 | 91204 | 2.49% | 54.83% | \*\*\*\* |
|  **Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)** | **Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)** | **Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)** | **Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)** | **Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)** | **Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)** | **Fidelity Variable Insurance Products Fund - VIP Overseas Portfolio: Service Class 2 (FO2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 19250 | 21.84 | 420433 | 1.98% | 4.81% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 7254 | 20.84 | 151163 | 0.82% | 20.22% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7419 | 17.33 | 128605 | 0.62% | -24.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10493 | 23.01 | 241487 | 0.33% | 19.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 12493 | 19.28 | 240828 | 0.23% | 15.33% |  |
|  **Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)** | **Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)** | **Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)** | **Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)** | **Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)** | **Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)** | **Fidelity Variable Insurance Products - VIP Real Estate Portfolio: Service Class 2 (FRESS2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 7804 | 25.62 | 199972 | 3.98% | 6.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8919 | 24.12 | 215102 | 1.97% | 10.89% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 12691 | 21.75 | 276007 | 1.26% | -27.69% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6980 | 30.08 | 209940 | 1.50% | 38.64% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1586 | 21.69 | 34407 | 2.87% | -6.79% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)** | **Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)** | **Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)** | **Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)** | **Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)** | **Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)** | **Fidelity Variable Insurance Products Fund - VIP Value Portfolio: Service Class 2 (FV2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10105 | 46.35 | 468358 | 1.19% | 11.08% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 20128 | 41.73 | 839837 | 1.24% | 19.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 17918 | 34.93 | 625786 | 1.16% | -4.29% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 17388 | 36.49 | 634512 | 1.76% | 29.72% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 10881 | 28.13 | 306091 | 1.43% | 6.02% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)** | **Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)** | **Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)** | **Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)** | **Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)** | **Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)** | **Fidelity Variable Insurance Products Fund - VIP Freedom Income Portfolio: Service Class 2 (FVFI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10764 | 13.47 | 144950 | 3.16% | 4.20% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 13399 | 12.92 | 173158 | 3.74% | 7.65% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 19345 | 12.01 | 232240 | 1.89% | -12.26% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 14772 | 13.68 | 202122 | 1.01% | 3.03% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 10683 | 13.28 | 141877 | 0.96% | 10.29% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)** | **Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)** | **Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)** | **Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)** | **Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)** | **Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)** | **Fidelity Variable Insurance Products Fund - VIP Floating Rate High Income Portfolio: Initial Class (FVFRHI)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 94730 | 11.70 | 1108195 | 8.95% | 8.50% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 26014 | 10.78 | 280472 | 12.80% | 7.82% | \*\*\*\* |
|  **Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)** | **Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)** | **Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)** | **Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)** | **Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)** | **Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)** | **Fidelity Variable Insurance Products Fund - VIP International Capital Appreciation Portfolio: Service Class 2 (FVICA2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 67272 | 30.37 | 2043079 | 0.67% | 7.92% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 38413 | 28.14 | 1080977 | 0.17% | 27.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 28561 | 22.13 | 631970 | 0.09% | -26.57% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 22127 | 30.13 | 666797 | 0.00% | 12.11% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 15925 | 26.88 | 428051 | 0.13% | 21.91% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)** | **Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)** | **Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)** | **Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)** | **Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)** | **Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)** | **Fidelity Variable Insurance Products Fund - VIP Strategic Income Portfolio: Service Class 2 (FVSIS2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 131229 | 16.51 | 2166028 | 4.07% | 5.78% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 61443 | 15.60 | 958748 | 4.51% | 9.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 60271 | 14.29 | 861412 | 3.28% | -11.52% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 67499 | 16.15 | 1090303 | 4.07% | 3.53% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 21437 | 15.60 | 334456 | 2.63% | 7.16% |  |
|  **Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)** | **Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)** | **Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)** | **Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)** | **Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)** | **Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)** | **Fidelity Variable Insurance Products Fund - VIP Value Strategies Portfolio: Service Class 2 (FVSS2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 66868 | 12.76 | 853512 | 0.99% | 9.16% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8563 | 11.69 | 100125 | 1.04% | 20.61% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8273 | 9.70 | 80206 | 0.82% | -3.05% | \*\*\*\* |
|  **First Eagle Variable Funds - Overseas Variable Fund (FEOVF)** | **First Eagle Variable Funds - Overseas Variable Fund (FEOVF)** | **First Eagle Variable Funds - Overseas Variable Fund (FEOVF)** | **First Eagle Variable Funds - Overseas Variable Fund (FEOVF)** | **First Eagle Variable Funds - Overseas Variable Fund (FEOVF)** | **First Eagle Variable Funds - Overseas Variable Fund (FEOVF)** | **First Eagle Variable Funds - Overseas Variable Fund (FEOVF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 34149 | 27.84 | 950612 | 3.03% | 6.10% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 11838 | 26.24 | 310601 | 0.00% | 10.08% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 10781 | 23.84 | 256974 | 3.41% | -8.17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7840 | 25.96 | 203477 | 0.95% | 4.44% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5445 | 24.85 | 135316 | 2.75% | 6.85% |  |
|  **Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)** | **Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)** | **Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)** | **Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)** | **Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)** | **Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)** | **Franklin Templeton Variable Insurance Products Trust - Templeton Global Bond VIP Fund: Class 2 (FTVGI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 886 | 14.03 | 12431 | 0.00% | -11.37% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 16318 | 15.82 | 258226 | 0.00% | 2.88% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 12922 | 15.38 | 198751 | 0.00% | -4.95% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 30943 | 16.18 | 500734 | 0.00% | -4.99% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 38603 | 17.03 | 657514 | 8.28% | -5.28% |  |
|  **Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Global Real Estate VIP Fund: Class 2 (FTVGR2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2544 | 25.51 | 64902 | 0.65% | -0.32% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 10427 | 25.59 | 266870 | 2.97% | 11.43% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 9383 | 22.97 | 215530 | 2.33% | -26.06% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 8503 | 31.06 | 264157 | 0.16% | 26.79% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 306 | 24.50 | 7497 | 3.69% | -5.39% |  |
|  **Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Income VIP Fund: Class 2 (FTVIS2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 12725 | 35.34 | 449676 | 4.73% | 7.20% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 10745 | 32.96 | 354201 | 5.76% | 8.62% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 6418 | 30.35 | 194768 | 4.20% | -5.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 9245 | 32.10 | 296795 | 5.79% | 16.75% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4795 | 27.50 | 131846 | 4.66% | 0.69% |  |
|  **Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Mutual Shares VIP Fund: Class 2 (FTVMS2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 388 | 37.91 | 14693 | 2.01% | 11.27% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 393 | 34.07 | 13387 | 1.79% | 13.46% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 398 | 30.03 | 11943 | 1.86% | -7.43% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 425 | 32.44 | 13793 | 2.92% | 19.17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 430 | 27.22 | 11705 | 2.02% | -5.04% |  |
|  **Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Rising Dividends VIP Fund: Class 2 (FTVRD2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 24902 | 27.03 | 672992 | 0.98% | 10.79% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 23039 | 24.39 | 562025 | 1.06% | 12.08% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 39454 | 21.77 | 858756 | 0.74% | -10.57% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 23750 | 24.34 | 578029 | 0.96% | 26.79% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 9796 | 19.20 | 188044 | 0.93% | 15.97% |  |
|  **Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin Strategic Income VIP Fund: Class 2 (FTVSI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 37890 | 21.27 | 805944 | 2.66% | 4.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 15205 | 20.45 | 310919 | 4.72% | 8.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 18681 | 18.90 | 353103 | 4.30% | -10.75% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 26101 | 21.18 | 552789 | 2.85% | 2.11% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 21016 | 20.74 | 435903 | 4.97% | 3.43% |  |
|  **Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)** | **Franklin Templeton Variable Insurance Products Trust - Franklin U.S. Government Securities VIP Fund: Class 2 (FTVUG2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3568 | 12.95 | 46211 | 1.34% | 1.37% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2436 | 12.78 | 31123 | 0.92% | 4.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 455 | 12.23 | 5559 | 3.24% | -9.75% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3219 | 13.55 | 43629 | 2.44% | -1.83% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3241 | 13.80 | 44739 | 3.25% | 3.83% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)** | **Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)** | **Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)** | **Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)** | **Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)** | **Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)** | **Goldman Sachs Variable Insurance Trust - Goldman Sachs Multi-Strategy Alternatives Portfolio: Advisor Shares (GVMSA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 33146 | 11.53 | 382078 | 3.10% | 3.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 21801 | 11.18 | 243709 | 10.34% | 7.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 11319 | 10.40 | 117674 | 8.69% | -6.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3601 | 11.13 | 40089 | 1.23% | 4.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5607 | 10.64 | 59639 | 1.80% | 6.58% |
|  **Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)** | **Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)** | **Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)** | **Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)** | **Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)** | **Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)** | **Guggenheim Variable Funds Trust - Series F (Floating Rate Strategies Series) (GVFRB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 176557 | 15.29 | 2699025 | 7.32% | 6.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 170328 | 14.31 | 2437380 | 4.28% | 11.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 69331 | 12.88 | 892815 | 1.15% | -0.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 149677 | 12.99 | 1944036 | 2.54% | 2.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 167958 | 12.67 | 2128260 | 8.06% | 0.01% |
|  **Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)** | **Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)** | **Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)** | **Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)** | **Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)** | **Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)** | **Rydex Variable Trust - Russell 2000(R) 2X Strategy Fund (GVR2XS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2629 | 23.25 | 61127 | 0.48% | 9.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2223 | 21.22 | 47187 | 0.11% | 22.00% |
|  **Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)** | **Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)** | **Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)** | **Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)** | **Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)** | **Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)** | **Guggenheim Variable Funds Trust - Series E (Total Return Bond) (GVTRBE)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 182134 | 15.54 | 2830665 | 3.82% | 3.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 152890 | 15.08 | 2304847 | 3.75% | 6.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 149589 | 14.09 | 2108451 | 2.89% | -16.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 137412 | 16.81 | 2309751 | 1.68% | -0.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 122272 | 16.88 | 2064192 | 1.80% | 14.21% |
|  **Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)** | **Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)** | **Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)** | **Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)** | **Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)** | **Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)** | **Rydex Variable Trust - Inverse NASDAQ-100(R) Strategy Fund (RAF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 58480 | 0.59 | 34793 | 0.00% | 34.84% |
|  **Rydex Variable Trust - Biotechnology Fund (RBF)** | **Rydex Variable Trust - Biotechnology Fund (RBF)** | **Rydex Variable Trust - Biotechnology Fund (RBF)** | **Rydex Variable Trust - Biotechnology Fund (RBF)** | **Rydex Variable Trust - Biotechnology Fund (RBF)** | **Rydex Variable Trust - Biotechnology Fund (RBF)** | **Rydex Variable Trust - Biotechnology Fund (RBF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 377 | 62.17 | 23420 | 0.00% | -1.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 380 | 63.05 | 23963 | 0.00% | 5.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 383 | 59.74 | 22875 | 0.00% | -13.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1802 | 68.92 | 124164 | 0.00% | 1.42% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1057 | 67.95 | 71825 | 0.00% | 21.31% |
|  **Rydex Variable Trust - Banking Fund (RBKF)** | **Rydex Variable Trust - Banking Fund (RBKF)** | **Rydex Variable Trust - Banking Fund (RBKF)** | **Rydex Variable Trust - Banking Fund (RBKF)** | **Rydex Variable Trust - Banking Fund (RBKF)** | **Rydex Variable Trust - Banking Fund (RBKF)** | **Rydex Variable Trust - Banking Fund (RBKF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2327 | 13.03 | 30318 | 3.23% | 23.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1561 | 9.28 | 14482 | 0.00% | -8.46% |
|  **Rydex Variable Trust - Basic Materials Fund (RBMF)** | **Rydex Variable Trust - Basic Materials Fund (RBMF)** | **Rydex Variable Trust - Basic Materials Fund (RBMF)** | **Rydex Variable Trust - Basic Materials Fund (RBMF)** | **Rydex Variable Trust - Basic Materials Fund (RBMF)** | **Rydex Variable Trust - Basic Materials Fund (RBMF)** | **Rydex Variable Trust - Basic Materials Fund (RBMF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3658 | 35.20 | 128757 | 0.39% | 22.94% |
|  **Rydex Variable Trust - Electronics Fund (RELF)** | **Rydex Variable Trust - Electronics Fund (RELF)** | **Rydex Variable Trust - Electronics Fund (RELF)** | **Rydex Variable Trust - Electronics Fund (RELF)** | **Rydex Variable Trust - Electronics Fund (RELF)** | **Rydex Variable Trust - Electronics Fund (RELF)** | **Rydex Variable Trust - Electronics Fund (RELF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3601 | 97.28 | 350349 | 0.00% | 16.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3163 | 83.77 | 264958 | 0.00% | 54.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3159 | 54.13 | 171002 | 0.00% | -32.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7126 | 80.43 | 573144 | 0.00% | 38.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5131 | 58.18 | 298510 | 0.00% | 55.96% |
|  **Rydex Variable Trust - Energy Fund (RENF)** | **Rydex Variable Trust - Energy Fund (RENF)** | **Rydex Variable Trust - Energy Fund (RENF)** | **Rydex Variable Trust - Energy Fund (RENF)** | **Rydex Variable Trust - Energy Fund (RENF)** | **Rydex Variable Trust - Energy Fund (RENF)** | **Rydex Variable Trust - Energy Fund (RENF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1 | 16.82 | 15 | 0.02% | 0.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1 | 16.81 | 14 | 0.00% | 1.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1913 | 16.54 | 31642 | 0.00% | 48.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 46 | 7.41 | 341 | 0.85% | -34.17% |
|  **Rydex Variable Trust - Energy Services Fund (RESF)** | **Rydex Variable Trust - Energy Services Fund (RESF)** | **Rydex Variable Trust - Energy Services Fund (RESF)** | **Rydex Variable Trust - Energy Services Fund (RESF)** | **Rydex Variable Trust - Energy Services Fund (RESF)** | **Rydex Variable Trust - Energy Services Fund (RESF)** | **Rydex Variable Trust - Energy Services Fund (RESF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2496 | 6.11 | 15248 | 0.00% | 4.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2404 | 3.49 | 8393 | 0.87% | -37.33% |
|  **Rydex Variable Trust - Financial Services Fund (RFSF)** | **Rydex Variable Trust - Financial Services Fund (RFSF)** | **Rydex Variable Trust - Financial Services Fund (RFSF)** | **Rydex Variable Trust - Financial Services Fund (RFSF)** | **Rydex Variable Trust - Financial Services Fund (RFSF)** | **Rydex Variable Trust - Financial Services Fund (RFSF)** | **Rydex Variable Trust - Financial Services Fund (RFSF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4183 | 25.30 | 105842 | 0.82% | 22.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1882 | 20.70 | 38943 | 0.00% | 13.90% |
|  **Rydex Variable Trust - Health Care Fund (RHCF)** | **Rydex Variable Trust - Health Care Fund (RHCF)** | **Rydex Variable Trust - Health Care Fund (RHCF)** | **Rydex Variable Trust - Health Care Fund (RHCF)** | **Rydex Variable Trust - Health Care Fund (RHCF)** | **Rydex Variable Trust - Health Care Fund (RHCF)** | **Rydex Variable Trust - Health Care Fund (RHCF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 548 | 49.53 | 27155 | 0.00% | 0.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 518 | 49.46 | 25635 | 0.00% | 5.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1193 | 47.09 | 56198 | 0.00% | -12.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 706 | 53.52 | 37763 | 0.00% | 18.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1662 | 45.03 | 74847 | 0.00% | 18.68% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Rydex Variable Trust - High Yield Strategy Fund (RHYS)** | **Rydex Variable Trust - High Yield Strategy Fund (RHYS)** | **Rydex Variable Trust - High Yield Strategy Fund (RHYS)** | **Rydex Variable Trust - High Yield Strategy Fund (RHYS)** | **Rydex Variable Trust - High Yield Strategy Fund (RHYS)** | **Rydex Variable Trust - High Yield Strategy Fund (RHYS)** | **Rydex Variable Trust - High Yield Strategy Fund (RHYS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 19462 | 14.45 | 281286 | 4.87% | 6.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 12234 | 13.36 | 163394 | 0.00% | -0.47% | \*\*\*\* |
|  **Rydex Variable Trust - Internet Fund (RINF)** | **Rydex Variable Trust - Internet Fund (RINF)** | **Rydex Variable Trust - Internet Fund (RINF)** | **Rydex Variable Trust - Internet Fund (RINF)** | **Rydex Variable Trust - Internet Fund (RINF)** | **Rydex Variable Trust - Internet Fund (RINF)** | **Rydex Variable Trust - Internet Fund (RINF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 496 | 59.71 | 29609 | 0.00% | 47.38% |  |
|  **Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)** | **Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)** | **Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)** | **Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)** | **Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)** | **Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)** | **Rydex Variable Trust - Inverse Government Long Bond Strategy Fund (RJNF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1556 | 4.74 | 7371 | 4.21% | 16.91% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2994 | 4.05 | 12131 | 0.00% | 4.23% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3209 | 3.89 | 12472 | 0.00% | 46.21% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2624 | 2.66 | 6977 | 0.00% | 0.97% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3182 | 2.63 | 8379 | 0.50% | -21.09% |  |
|  **Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)** | **Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)** | **Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)** | **Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)** | **Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)** | **Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)** | **Rydex Variable Trust - Europe 1.25x Strategy Fund (RLCE)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3571 | 14.31 | 51114 | 0.33% | 20.09% |  |
|  **Rydex Variable Trust - Leisure Fund (RLF)** | **Rydex Variable Trust - Leisure Fund (RLF)** | **Rydex Variable Trust - Leisure Fund (RLF)** | **Rydex Variable Trust - Leisure Fund (RLF)** | **Rydex Variable Trust - Leisure Fund (RLF)** | **Rydex Variable Trust - Leisure Fund (RLF)** | **Rydex Variable Trust - Leisure Fund (RLF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 163 | 39.41 | 6418 | 0.02% | 16.50% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1824 | 33.83 | 61709 | 0.00% | 22.49% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 691 | 27.62 | 19073 | 0.00% | -27.56% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2523 | 38.13 | 96178 | 0.00% | 0.92% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 445 | 37.78 | 16811 | 0.00% | 21.01% |  |
|  **Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)** | **Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)** | **Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)** | **Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)** | **Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)** | **Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)** | **Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund (RMED)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3060 | 66.53 | 203574 | 0.64% | 15.26% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2324 | 57.72 | 134132 | 0.00% | 18.84% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2178 | 48.57 | 105792 | 0.00% | -23.20% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2402 | 63.24 | 151912 | 0.00% | 35.25% |  |
|  **Rydex Variable Trust - Nova Fund (RNF)** | **Rydex Variable Trust - Nova Fund (RNF)** | **Rydex Variable Trust - Nova Fund (RNF)** | **Rydex Variable Trust - Nova Fund (RNF)** | **Rydex Variable Trust - Nova Fund (RNF)** | **Rydex Variable Trust - Nova Fund (RNF)** | **Rydex Variable Trust - Nova Fund (RNF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% |  | 67.10 | 17 | 0.00% | 35.07% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3886 | 71.24 | 276865 | 0.35% | 42.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3955 | 50.10 | 198160 | 0.88% | 20.03% |  |
|  **Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)** | **Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)** | **Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)** | **Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)** | **Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)** | **Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)** | **Rydex Variable Trust - NASDAQ-100(R) Fund (ROF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 12708 | 129.99 | 1651912 | 0.21% | 23.91% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 10928 | 104.91 | 1146483 | 0.00% | 53.22% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 4447 | 68.47 | 304514 | 0.00% | -34.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 32788 | 103.96 | 3408804 | 0.00% | 25.54% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 7256 | 82.81 | 600885 | 0.46% | 44.96% |  |
|  **Rydex Variable Trust - Precious Metals Fund (RPMF)** | **Rydex Variable Trust - Precious Metals Fund (RPMF)** | **Rydex Variable Trust - Precious Metals Fund (RPMF)** | **Rydex Variable Trust - Precious Metals Fund (RPMF)** | **Rydex Variable Trust - Precious Metals Fund (RPMF)** | **Rydex Variable Trust - Precious Metals Fund (RPMF)** | **Rydex Variable Trust - Precious Metals Fund (RPMF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2742 | 16.52 | 45305 | 0.77% | 8.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 25170 | 15.28 | 384633 | 0.30% | 3.83% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 28009 | 14.72 | 412247 | 0.51% | -11.08% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 12728 | 16.55 | 210681 | 3.38% | -9.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 10090 | 18.23 | 183927 | 13.72% | 34.30% |  |
|  **Rydex Variable Trust - Real Estate Fund (RREF)** | **Rydex Variable Trust - Real Estate Fund (RREF)** | **Rydex Variable Trust - Real Estate Fund (RREF)** | **Rydex Variable Trust - Real Estate Fund (RREF)** | **Rydex Variable Trust - Real Estate Fund (RREF)** | **Rydex Variable Trust - Real Estate Fund (RREF)** | **Rydex Variable Trust - Real Estate Fund (RREF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2068 | 23.05 | 47670 | 1.32% | 5.03% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2072 | 21.94 | 45470 | 1.33% | 10.32% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2077 | 19.89 | 41302 | 0.41% | -27.40% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 37039 | 27.39 | 1014666 | 0.54% | 34.07% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2084 | 20.43 | 42582 | 2.92% | -5.82% |  |
|  **Rydex Variable Trust - Retailing Fund (RRF)** | **Rydex Variable Trust - Retailing Fund (RRF)** | **Rydex Variable Trust - Retailing Fund (RRF)** | **Rydex Variable Trust - Retailing Fund (RRF)** | **Rydex Variable Trust - Retailing Fund (RRF)** | **Rydex Variable Trust - Retailing Fund (RRF)** | **Rydex Variable Trust - Retailing Fund (RRF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1925 | 36.97 | 71188 | 0.00% | -26.52% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1953 | 50.32 | 98254 | 0.00% | 11.75% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 315 | 45.03 | 14184 | 0.00% | 43.67% |  |
|  **Rydex Variable Trust - Technology Fund (RTEC)** | **Rydex Variable Trust - Technology Fund (RTEC)** | **Rydex Variable Trust - Technology Fund (RTEC)** | **Rydex Variable Trust - Technology Fund (RTEC)** | **Rydex Variable Trust - Technology Fund (RTEC)** | **Rydex Variable Trust - Technology Fund (RTEC)** | **Rydex Variable Trust - Technology Fund (RTEC)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3207 | 85.19 | 273216 | 0.00% | 23.97% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 590 | 68.72 | 40529 | 0.00% | 49.01% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 482 | 46.12 | 22248 | 0.00% | -36.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2909 | 72.34 | 210482 | 0.00% | 20.50% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 10362 | 60.04 | 622088 | 0.00% | 49.25% |  |
|  **Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)** | **Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)** | **Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)** | **Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)** | **Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)** | **Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)** | **Rydex Variable Trust - S&P 500 2x Strategy Fund (RTF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 27 | 57.07 | 1514 | 0.00% | -39.77% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 152 | 94.75 | 14385 | 0.00% | 58.29% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Rydex Variable Trust - Transportation Fund (RTRF)** | **Rydex Variable Trust - Transportation Fund (RTRF)** | **Rydex Variable Trust - Transportation Fund (RTRF)** | **Rydex Variable Trust - Transportation Fund (RTRF)** | **Rydex Variable Trust - Transportation Fund (RTRF)** | **Rydex Variable Trust - Transportation Fund (RTRF)** | **Rydex Variable Trust - Transportation Fund (RTRF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 131 | 42.92 | 5613 | 0.22% | 1.56% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 133 | 42.26 | 5611 | 0.00% | 24.48% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1545 | 52.25 | 80735 | 0.00% | 22.17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1413 | 42.77 | 60431 | 0.00% | 40.62% |  |
|  **Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)** | **Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)** | **Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)** | **Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)** | **Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)** | **Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)** | **Rydex Variable Trust - Inverse S&P 500 Strategy Fund (RUF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 10085 | 1.29 | 13052 | 0.00% | 16.59% |  |
|  **Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)** | **Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)** | **Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)** | **Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)** | **Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)** | **Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)** | **Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund (RUGB)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 37 | 12.43 | 455 | 3.38% | -12.46% |  |
|  **Rydex Variable Trust - Utilities Fund (RUTL)** | **Rydex Variable Trust - Utilities Fund (RUTL)** | **Rydex Variable Trust - Utilities Fund (RUTL)** | **Rydex Variable Trust - Utilities Fund (RUTL)** | **Rydex Variable Trust - Utilities Fund (RUTL)** | **Rydex Variable Trust - Utilities Fund (RUTL)** | **Rydex Variable Trust - Utilities Fund (RUTL)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2394 | 36.79 | 88072 | 1.94% | 19.86% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 6662 | 33.05 | 220183 | 0.26% | 1.04% |  |
|  **Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)** | **Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)** | **Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)** | **Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)** | **Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)** | **Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)** | **Rydex Variable Trust - Multi-Hedge Strategies Fund (RVARS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3503 | 12.01 | 42061 | 4.87% | -3.66% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3456 | 12.46 | 43073 | 3.40% | 4.37% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 5489 | 11.94 | 65551 | 1.43% | -3.40% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3482 | 12.36 | 43045 | 0.00% | 8.10% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5373 | 11.44 | 61443 | 1.30% | 7.39% |  |
|  **Rydex Variable Trust - Commodities Strategy Fund (RVCMD)** | **Rydex Variable Trust - Commodities Strategy Fund (RVCMD)** | **Rydex Variable Trust - Commodities Strategy Fund (RVCMD)** | **Rydex Variable Trust - Commodities Strategy Fund (RVCMD)** | **Rydex Variable Trust - Commodities Strategy Fund (RVCMD)** | **Rydex Variable Trust - Commodities Strategy Fund (RVCMD)** | **Rydex Variable Trust - Commodities Strategy Fund (RVCMD)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4894 | 3.77 | 18460 | 1.64% | 8.29% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 46868 | 3.48 | 163257 | 10.88% | -6.24% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 70037 | 3.72 | 260194 | 5.36% | 22.88% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 34928 | 3.02 | 105598 | 0.00% | 39.54% | \*\*\*\* |
|  **Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)** | **Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)** | **Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)** | **Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)** | **Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)** | **Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)** | **Rydex Variable Trust - NASDAQ-100(R) 2x Strategy Fund (RVF)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 785 | 549.01 | 430758 | 0.00% | 41.90% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 881 | 386.90 | 340852 | 0.00% | 116.13% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 477 | 179.01 | 85454 | 0.00% | -61.04% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 896 | 459.49 | 411753 | 0.00% | 53.45% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4519 | 299.44 | 1353172 | 0.27% | 86.87% |  |
|  **Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)** | **Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)** | **Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)** | **Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)** | **Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)** | **Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)** | **Rydex Variable Trust - S&P 500 Pure Growth Fund (RVLCG)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3034 | 55.86 | 169497 | 0.06% | 26.67% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3077 | 44.10 | 135679 | 0.00% | 6.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 17 | 41.42 | 695 | 0.00% | -28.35% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7236 | 57.81 | 418348 | 0.00% | 27.59% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1636 | 45.31 | 74131 | 0.00% | 27.32% |  |
|  **Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)** | **Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)** | **Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)** | **Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)** | **Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)** | **Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)** | **Rydex Variable Trust - S&P 500 Pure Value Fund (RVLCV)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 8492 | 38.86 | 329976 | 1.36% | 10.84% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8942 | 35.05 | 313463 | 1.73% | 6.29% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 5011 | 32.98 | 165274 | 0.15% | -2.55% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 4261 | 33.84 | 144192 | 0.32% | 32.32% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5006 | 25.58 | 128041 | 0.49% | -10.56% |  |
|  **Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)** | **Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)** | **Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)** | **Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)** | **Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)** | **Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)** | **Rydex Variable Trust - Dow 2x Strategy Fund (RVLDD)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 546 | 84.95 | 46358 | 0.31% | 23.57% |  |
|  **Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)** | **Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)** | **Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)** | **Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)** | **Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)** | **Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)** | **Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund (RVMCG)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 11397 | 48.29 | 550383 | 0.00% | 16.15% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 474 | 41.58 | 19706 | 0.00% | 14.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 479 | 36.25 | 17373 | 0.00% | -22.62% |  |
|  **Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)** | **Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)** | **Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)** | **Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)** | **Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)** | **Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)** | **Rydex Variable Trust - S&P MidCap 400 Pure Value Fund (RVMCV)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 631 | 47.74 | 30136 | 0.04% | 4.42% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 743 | 45.72 | 33985 | 0.00% | 27.83% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2346 | 35.77 | 83914 | 0.12% | -5.22% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 19587 | 28.75 | 563138 | 0.00% | 7.42% |  |
|  **Rydex Variable Trust - Global Managed Futures Fund (RVMFU)** | **Rydex Variable Trust - Global Managed Futures Fund (RVMFU)** | **Rydex Variable Trust - Global Managed Futures Fund (RVMFU)** | **Rydex Variable Trust - Global Managed Futures Fund (RVMFU)** | **Rydex Variable Trust - Global Managed Futures Fund (RVMFU)** | **Rydex Variable Trust - Global Managed Futures Fund (RVMFU)** | **Rydex Variable Trust - Global Managed Futures Fund (RVMFU)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 8018 | 8.96 | 71813 | 2.38% | 0.37% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9736 | 8.92 | 86878 | 4.90% | 3.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 57489 | 8.60 | 494203 | 2.24% | 11.28% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 13860 | 7.72 | 107063 | 0.00% | 0.94% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 10535 | 7.65 | 80623 | 3.75% | 2.60% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund (RVSCG)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1430 | 37.79 | 54021 | 0.00% | 8.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1190 | 34.93 | 41572 | 0.06% | 17.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6897 | 35.59 | 245489 | 0.00% | 15.76% |  |
|  **Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)** | **Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund (RVSCV)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1218 | 32.68 | 39802 | 0.00% | 3.74% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1218 | 31.50 | 38370 | 0.00% | 21.06% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 409 | 28.35 | 11603 | 0.00% | 43.41% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 12940 | 19.77 | 255847 | 0.00% | -5.97% |  |
|  **Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)** | **Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)** | **Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)** | **Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)** | **Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)** | **Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)** | **Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund (RVSDL)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 805 | 11.86 | 9553 | 0.00% | 21.01% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 457 | 8.37 | 3825 | 0.00% | 11.10% |  |
|  **Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)** | **Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)** | **Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)** | **Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)** | **Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)** | **Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)** | **Invesco - Invesco V.I. Comstock Fund: Series I Shares (ACC1)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 21481 | 45.29 | 972882 | 1.76% | 15.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 20760 | 39.32 | 816350 | 1.48% | 12.36% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 35122 | 35.00 | 1229201 | 2.12% | 1.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 13197 | 34.61 | 456742 | 1.24% | 33.36% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 12418 | 25.95 | 322265 | 0.00% | -0.85% | \*\*\*\* |
|  **Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)** | **Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)** | **Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)** | **Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)** | **Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)** | **Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)** | **Invesco - Invesco V.I. Growth and Income Fund: Series I Shares (ACGI)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1008 | 31.24 | 31481 | 1.64% | -5.75% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1089 | 33.15 | 36093 | 1.51% | 28.51% | \*\*\*\* |
|  **Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)** | **Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)** | **Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)** | **Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)** | **Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)** | **Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)** | **Invesco - Invesco V.I. High Yield Fund: Series I Shares (AVHY1)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1345 | 28.28 | 38029 | 4.64% | 7.73% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1420 | 26.25 | 37290 | 3.51% | 10.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 513 | 23.83 | 12217 | 0.75% | -9.55% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 4194 | 26.35 | 110487 | 0.00% | 4.38% |  |
|  **Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)** | **Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)** | **Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)** | **Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)** | **Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)** | **Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)** | **Invesco - Invesco V.I. EQV International Equity Fund: Series I Shares (AVIE)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6631 | 17.35 | 115026 | 1.71% | 0.62% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 7256 | 17.24 | 125090 | 0.19% | 18.15% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8129 | 14.59 | 118613 | 1.80% | -18.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6428 | 17.86 | 114813 | 1.23% | 5.89% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6664 | 16.87 | 112409 | 2.72% | 14.00% |  |
|  **Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)** | **Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)** | **Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)** | **Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)** | **Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)** | **Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)** | **Invesco - Invesco V.I. Balanced-Risk Allocation Fund: Series II Shares (IVBRA2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 58940 | 15.82 | 932239 | 5.83% | 3.56% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 61176 | 15.27 | 934338 | 0.00% | 6.40% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 26822 | 14.35 | 385014 | 10.40% | -14.52% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 18369 | 16.79 | 308453 | 3.09% | 9.26% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 24466 | 15.37 | 376011 | 7.86% | 9.99% |  |
|  **Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series II Shares (IVCPB2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 7921 | 10.02 | 79365 | 2.49% | 5.85% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7990 | 9.47 | 75628 | 0.18% | -5.35% | \*\*\*\* |
|  **Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)** | **Invesco - Invesco V.I. Core Plus Bond Fund: Series I Shares (IVCPBI)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 286180 | 12.04 | 3444773 | 4.15% | 3.06% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 158789 | 11.68 | 1854623 | 2.65% | 6.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 168815 | 11.00 | 1857678 | 0.63% | -14.54% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 127110 | 12.88 | 1636632 | 1.97% | -0.66% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 78080 | 12.96 | 1011966 | 2.44% | 9.72% |  |
|  **Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)** | **Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)** | **Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)** | **Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)** | **Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)** | **Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)** | **Invesco - Invesco V.I. Diversified Dividend Fund: Series I Shares (IVDDI)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 11999 | 34.42 | 413059 | 1.88% | 13.22% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 13567 | 30.40 | 412518 | 1.70% | 9.04% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 16796 | 27.88 | 468333 | 2.24% | -1.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7752 | 28.36 | 219832 | 2.24% | 18.89% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 8096 | 23.85 | 193111 | 3.00% | 0.14% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)** | **Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)** | **Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)** | **Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)** | **Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)** | **Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)** | **Invesco - Invesco V.I. Government Money Market Fund: Series I Shares (IVGMMI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 820685 | 11.68 | 9582807 | 4.85% | 4.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 771075 | 11.12 | 8576498 | 4.73% | 4.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1028871 | 10.61 | 10913439 | 1.45% | 1.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 740319 | 10.46 | 7740164 | 0.01% | 0.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 438592 | 10.45 | 4585262 | 0.26% | 0.29% |
|  **Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)** | **Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)** | **Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)** | **Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)** | **Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)** | **Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)** | **Invesco - Invesco V.I. Government Securities Fund: Series I Shares (IVGS1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10708 | 14.72 | 157650 | 2.59% | 1.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 10657 | 14.47 | 154247 | 3.11% | 4.62% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 6179 | 13.83 | 85492 | 1.22% | -10.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 289 | 15.42 | 4451 | 2.74% | -2.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 247 | 15.78 | 3898 | 2.43% | 6.27% |
|  **Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)** | **Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)** | **Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)** | **Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)** | **Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)** | **Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)** | **Invesco - Invesco V.I. Health Care Fund: Series I Shares (IVHS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3488 | 45.52 | 158770 | 0.00% | 4.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 260 | 43.70 | 11361 | 0.00% | 3.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1962 | 42.42 | 83214 | 0.00% | -13.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2900 | 48.94 | 141921 | 0.20% | 12.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2317 | 43.58 | 100971 | 0.32% | 14.46% |
|  **Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)** | **Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)** | **Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)** | **Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)** | **Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)** | **Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)** | **Invesco - Invesco V.I. Equity and Income Fund: Series I Shares (IVKEI1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 34621 | 32.18 | 1113954 | 1.77% | 12.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 37111 | 28.70 | 1064985 | 2.16% | 10.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 33859 | 25.96 | 878892 | 1.74% | -7.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 34382 | 28.07 | 964922 | 1.94% | 18.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 33820 | 23.65 | 799960 | 2.69% | 9.95% |
|  **Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)** | **Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)** | **Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)** | **Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)** | **Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)** | **Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)** | **Invesco - Invesco V.I. Main Street Mid Cap Fund: Series II Shares (IVMCC2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2568 | 40.69 | 104486 | 0.12% | 16.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2584 | 34.84 | 90037 | 0.05% | 14.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1433 | 30.53 | 43731 | 0.07% | -14.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 766 | 35.68 | 27324 | 0.26% | 22.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 770 | 29.04 | 22363 | 0.50% | 8.94% |
|  **Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)** | **Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)** | **Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)** | **Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)** | **Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)** | **Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)** | **Invesco - Invesco V.I. Global Real Estate Fund: Series I Shares (IVRE)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 5532 | 22.13 | 122456 | 2.50% | -1.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 6878 | 22.54 | 155038 | 1.43% | 9.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7582 | 20.67 | 156719 | 2.58% | -24.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 9179 | 27.54 | 252748 | 2.16% | 25.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 12115 | 21.90 | 265373 | 5.24% | -12.32% |
|  **Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)** | **Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)** | **Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)** | **Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)** | **Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)** | **Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)** | **Invesco - Invesco V.I. Technology Fund: Series I Shares (IVT)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 16656 | 82.41 | 1372721 | 0.00% | 34.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 13862 | 61.38 | 850852 | 0.00% | 46.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7068 | 41.77 | 295238 | 0.00% | -39.95% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6394 | 69.56 | 444780 | 0.00% | 14.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 7270 | 60.80 | 442004 | 0.00% | 46.11% |
|  **Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)** | **Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)** | **Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)** | **Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)** | **Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)** | **Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)** | **Invesco - Invesco V.I. Main Street Fund: Series II (OVGIS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 276 | 50.13 | 13845 | 0.00% | 23.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 279 | 40.62 | 11346 | 0.32% | 22.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1404 | 41.50 | 58274 | 0.50% | 27.23% |
|  **Invesco - Invesco V.I. Global Fund: Series II (OVGSS)** | **Invesco - Invesco V.I. Global Fund: Series II (OVGSS)** | **Invesco - Invesco V.I. Global Fund: Series II (OVGSS)** | **Invesco - Invesco V.I. Global Fund: Series II (OVGSS)** | **Invesco - Invesco V.I. Global Fund: Series II (OVGSS)** | **Invesco - Invesco V.I. Global Fund: Series II (OVGSS)** | **Invesco - Invesco V.I. Global Fund: Series II (OVGSS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1360 | 39.36 | 53528 | 0.00% | 15.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1688 | 33.99 | 57378 | 0.00% | 34.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2533 | 25.28 | 64038 | 0.00% | -31.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6329 | 37.15 | 235105 | 0.00% | 15.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6582 | 32.25 | 212302 | 0.41% | 27.34% |
|  **Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)** | **Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)** | **Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)** | **Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)** | **Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)** | **Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)** | **Invesco Oppenheimer V.I. International Growth Fund: Series II (OVIGS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3738 | 21.56 | 80610 | 0.36% | -1.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 5338 | 21.96 | 117241 | 0.31% | 20.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 5503 | 18.21 | 100185 | 0.00% | -27.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 4431 | 25.00 | 110757 | 0.00% | 10.12% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5713 | 22.70 | 129680 | 0.70% | 21.04% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)** | **Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)** | **Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)** | **Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)** | **Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)** | **Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)** | **Invesco - Invesco V.I. Global Strategic Income Fund: Series II (OVSBS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 9705 | 13.86 | 134468 | 4.43% | 2.99% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Asset Strategy Series: Service Class (WRASP)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 19156 | 23.70 | 454070 | 2.17% | 12.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1769 | 21.08 | 37287 | 2.63% | 13.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 875 | 18.50 | 16182 | 2.12% | -14.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 271 | 21.70 | 5884 | 1.42% | 10.44% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Corporate Bond Series: Service Class (WRBDP)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 171114 | 14.79 | 2530785 | 3.09% | 2.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 102537 | 14.44 | 1480307 | 2.68% | 7.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 98742 | 13.47 | 1330107 | 2.46% | -15.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 94884 | 16.00 | 1517792 | 2.04% | -0.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 93121 | 16.13 | 1502294 | 1.83% | 10.97% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Balanced Series: Service Class (WRBP)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1029 | 35.99 | 37042 | 1.30% | 15.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1049 | 31.14 | 32658 | 0.76% | 16.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1068 | 26.84 | 28672 | 1.26% | -16.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2512 | 31.97 | 80307 | 0.90% | 15.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4210 | 27.57 | 116063 | 0.00% | 14.11% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Energy Series: Service Class (WRENG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 968 | 11.69 | 11321 | 3.39% | 4.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 943 | 11.24 | 10604 | 4.48% | 50.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 308 | 5.26 | 1620 | 0.88% | -36.83% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Natural Resources Series: Service Class (WRGNR)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 11925 | 9.16 | 109255 | 3.80% | -0.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 45716 | 9.22 | 421306 | 1.82% | 1.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 36029 | 9.07 | 326850 | 2.16% | 17.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 9424 | 7.70 | 72587 | 1.67% | 26.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 7967 | 6.08 | 48443 | 2.29% | -11.99% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP High Income Series: Service Class (WRHIP)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1032 | 24.85 | 25653 | 1.91% | 6.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1054 | 23.40 | 24659 | 10.95% | 11.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1679 | 20.94 | 35153 | 2.92% | -10.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6131 | 23.52 | 144205 | 7.11% | 6.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 20790 | 22.18 | 461062 | 71.26% | 6.03% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Limited-Term Bond Series: Service Class (WRLTBP)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 29658 | 11.93 | 353799 | 4.71% | 4.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 31047 | 11.43 | 354982 | 1.69% | 4.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 30477 | 10.91 | 332390 | 1.06% | -4.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 19446 | 11.40 | 221612 | 0.97% | -0.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2915 | 11.45 | 33383 | 2.58% | 4.14% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Mid Cap Growth Series: Service Class (WRMCG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 12428 | 56.00 | 695982 | 0.00% | 2.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 12270 | 54.79 | 672287 | 0.00% | 19.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8141 | 45.81 | 372898 | 0.00% | -30.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7147 | 66.19 | 473047 | 0.00% | 16.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1581 | 56.89 | 89935 | 0.00% | 49.00% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Science and Technology Series: Service Class (WRSTP)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1547 | 83.24 | 128763 | 0.00% | 30.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 890 | 63.74 | 56715 | 0.00% | 39.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 997 | 45.84 | 45716 | 0.00% | -31.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1049 | 67.25 | 70525 | 0.00% | 15.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6290 | 58.39 | 367287 | 0.00% | 35.36% |
|  **Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)** | **Ivy Variable Insurance Portfolios - Macquarie VIP Value Series: Service Class (WRVP)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 113 | 40.98 | 4610 | 1.69% | 6.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 270 | 38.49 | 10381 | 1.73% | 8.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 658 | 35.52 | 23376 | 1.37% | -5.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 942 | 37.39 | 35200 | 1.91% | 31.18% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1204 | 28.50 | 34316 | 1.98% | 1.98% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)** | **Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)** | **Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)** | **Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)** | **Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)** | **Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)** | **Janus Aspen Series - Janus Henderson Balanced Portfolio: Institutional Shares (JABIN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 90621 | 41.63 | 3772287 | 2.13% | 15.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 87358 | 36.06 | 3150458 | 2.13% | 15.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 87965 | 31.25 | 2748682 | 1.30% | -16.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 93533 | 37.38 | 3496076 | 0.92% | 17.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 82731 | 31.89 | 2638596 | 2.40% | 14.31% |
|  **Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)** | **Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)** | **Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)** | **Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)** | **Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)** | **Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)** | **Janus Aspen Series - Janus Henderson Enterprise Portfolio: Institutional Shares (JAEI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 23202 | 73.16 | 1697488 | 0.79% | 15.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 18743 | 63.28 | 1186138 | 0.17% | 18.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 17016 | 53.60 | 912034 | 0.18% | -15.94% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 14022 | 63.76 | 894099 | 0.31% | 16.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 15825 | 54.58 | 863675 | 0.11% | 19.47% |
|  **Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)** | **Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)** | **Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)** | **Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)** | **Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)** | **Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)** | **Janus Aspen Series - Janus Henderson Flexible Bond Portfolio: Service Shares (JAFBS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10563 | 12.48 | 131804 | 4.26% | 1.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9389 | 12.28 | 115273 | 3.67% | 5.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 9279 | 11.66 | 108200 | 2.04% | -13.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 9269 | 13.54 | 125536 | 1.48% | -1.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 15356 | 13.70 | 210312 | 2.56% | 10.25% |
|  **Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)** | **Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)** | **Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)** | **Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)** | **Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)** | **Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)** | **Janus Aspen Series - Janus Henderson Forty Portfolio: Institutional Shares (JAFRIN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 22506 | 78.96 | 1777057 | 0.11% | 28.47% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 23445 | 61.46 | 1440996 | 0.16% | 39.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 32050 | 43.91 | 1407428 | 0.19% | -33.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 37200 | 66.09 | 2458457 | 0.00% | 22.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 26514 | 53.77 | 1425779 | 0.67% | 39.40% |
|  **Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)** | **Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)** | **Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)** | **Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)** | **Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)** | **Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)** | **Janus Aspen Series - Janus Henderson Global Research Portfolio: Institutional Shares (JAGRIN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 11854 | 42.16 | 499794 | 0.87% | 23.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3100 | 34.12 | 105768 | 0.93% | 26.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2505 | 26.91 | 67419 | 1.02% | -19.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2735 | 33.39 | 91322 | 0.52% | 18.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2741 | 28.28 | 77505 | 0.80% | 20.06% |
|  **Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)** | **Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)** | **Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)** | **Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)** | **Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)** | **Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)** | **Janus Aspen Series - Janus Henderson Global Sustainable Equity Portfolio: Institutional Shares (JAGSEI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 121 | 12.44 | 1510 | 0.22% | 11.06% |
|  **Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)** | **Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)** | **Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)** | **Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)** | **Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)** | **Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)** | **Janus Aspen Series - Janus Henderson Overseas Portfolio: Institutional Shares (JAIG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 45746 | 21.55 | 985602 | 1.74% | 5.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 16183 | 20.36 | 329442 | 1.42% | 10.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 14472 | 18.36 | 265708 | 1.80% | -8.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 8192 | 20.09 | 164564 | 1.06% | 13.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4631 | 17.69 | 81907 | 1.28% | 16.30% |
|  **Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)** | **Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)** | **Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)** | **Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)** | **Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)** | **Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)** | **Janus Aspen Series - Janus Henderson Research Portfolio: Institutional Shares (JARIN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6861 | 73.00 | 500832 | 0.03% | 35.31% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3731 | 53.95 | 201287 | 0.14% | 43.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3768 | 37.68 | 141964 | 0.16% | -29.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3946 | 53.74 | 212058 | 0.09% | 20.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1310 | 44.66 | 58509 | 0.54% | 32.95% |
|  **Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)** | **Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)** | **Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)** | **Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)** | **Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)** | **Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)** | **Janus Aspen Series - Janus Henderson Mid Cap Value Portfolio: Institutional Shares (JMCVIN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 25579 | 34.48 | 881832 | 1.04% | 13.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 13961 | 30.48 | 425547 | 1.06% | 11.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 19881 | 27.36 | 543980 | 1.57% | -5.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 12816 | 28.97 | 371328 | 0.46% | 19.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 12117 | 24.20 | 293228 | 1.29% | -0.92% |
|  **John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)** | **John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)** | **John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)** | **John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)** | **John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)** | **John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)** | **John Hancock Variable Insurance Trust - Emerging Markets Value Trust: Series NAV (JHEVTN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.10% | 78430 | 15.90 | 1247165 | 4.59% | -2.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.10% | 70643 | 16.32 | 1152587 | 1.83% | 15.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.10% | 50007 | 14.18 | 709248 | 3.75% | -11.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.10% | 45867 | 16.07 | 736882 | 2.55% | 11.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.10% | 42910 | 14.46 | 620305 | 2.50% | 3.62% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)** | **Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)** | **Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)** | **Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)** | **Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)** | **Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)** | **Lazard Retirement Series, Inc. - Lazard Retirement Emerging Markets Equity Portfolio: Service Shares (LZREMS)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3244 | 33.48 | 108613 | 3.11% | 7.43% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4071 | 31.16 | 126863 | 4.82% | 22.27% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 4651 | 25.49 | 118554 | 2.86% | -15.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7772 | 30.03 | 233378 | 1.69% | 5.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 9460 | 28.47 | 269325 | 2.28% | -1.27% |  |
|  **Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)** | **Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)** | **Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)** | **Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)** | **Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)** | **Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)** | **Lazard Retirement Series, Inc. - Lazard Retirement International Equity Portfolio: Service Shares (LZRIES)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4838 | 24.38 | 117952 | 1.94% | 5.63% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9793 | 23.08 | 226047 | 1.25% | 15.88% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 11057 | 19.92 | 220252 | 3.80% | -15.01% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10356 | 23.44 | 242726 | 0.95% | 5.83% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 10370 | 22.15 | 229648 | 1.66% | 8.24% |  |
|  **Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)** | **Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)** | **Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)** | **Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)** | **Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)** | **Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)** | **Lazard Retirement Series, Inc. - Lazard Retirement US Small Cap Equity Select Portfolio: Service Shares (LZRUSM)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1917 | 41.87 | 80262 | 0.00% | 11.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4499 | 37.68 | 169533 | 0.00% | 10.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 4749 | 34.25 | 162674 | 0.00% | -15.52% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 4760 | 40.54 | 192976 | 0.05% | 19.87% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5420 | 33.82 | 183312 | 0.19% | 6.76% |  |
|  **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Growth Portfolio: Class I (LPVCAI)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 715 | 37.32 | 26679 | 0.11% | 12.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 720 | 33.08 | 23806 | 0.24% | 24.42% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1799 | 26.59 | 47845 | 0.45% | -26.41% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1637 | 36.13 | 59154 | 0.10% | 10.30% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 722 | 32.76 | 23652 | 0.84% | 18.02% |  |
|  **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I (LPVCII)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 5178 | 43.92 | 227390 | 1.35% | 16.85% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 13042 | 37.59 | 490210 | 2.18% | 14.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 14038 | 32.91 | 462056 | 1.50% | -8.10% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10104 | 35.82 | 361894 | 1.56% | 26.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 9965 | 28.25 | 281477 | 2.16% | 7.67% |  |
|  **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Large Cap Growth Portfolio: Class I (LVCLGI)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10969 | 71.97 | 789373 | 0.00% | 27.89% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 16432 | 56.27 | 924718 | 0.00% | 44.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 13321 | 39.07 | 520501 | 0.00% | -32.24% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 13854 | 57.67 | 798915 | 0.00% | 21.94% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 14137 | 47.29 | 668563 | 0.02% | 30.74% |  |
|  **Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)** | **Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)** | **Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)** | **Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)** | **Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)** | **Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)** | **Western Asset Variable Global High Yield Bond Portfolio: Class I (SBVHY)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3165 | 26.45 | 83710 | 6.59% | 7.06% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3169 | 24.70 | 78288 | 5.62% | 10.26% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2696 | 22.41 | 60413 | 5.10% | -13.72% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2903 | 25.97 | 75384 | 3.63% | 1.33% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2977 | 25.63 | 76298 | 1.70% | 7.32% |  |
|  **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)** | **Legg Mason Partners Variable Equity Trust - ClearBridge Variable Small Cap Growth Portfolio: Class II (SBVSG2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 36615 | 32.20 | 1178873 | 0.00% | 4.23% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 48770 | 30.89 | 1506416 | 0.00% | 8.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 38753 | 28.57 | 1107086 | 0.00% | -29.01% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 43475 | 40.24 | 1749483 | 0.00% | 12.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 37979 | 35.83 | 1360769 | 0.00% | 42.91% |  |
|  **Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Balanced Fund: Standard Class II (LACB2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 89397 | 10.88 | 972319 | 1.49% | 8.76% | \*\*\*\* |
|  **Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Disciplined Core Value Fund: Standard Class II (LACDV2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2810 | 10.66 | 29955 | 0.45% | 6.58% | \*\*\*\* |
|  **Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century International Fund: Standard Class II (LACI2)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 52921 | 10.02 | 530405 | 0.66% | 0.23% | \*\*\*\* |
|  **Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Inflation Protection Fund: Service Class (LACIPS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 18589 | 10.33 | 192023 | 2.40% | 3.30% | \*\*\*\* |
|  **Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Large Company Value Fund: Standard Class II (LACLV2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1800 | 10.65 | 19179 | 1.04% | 6.53% | \*\*\*\* |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Ultra(R) Fund: Standard Class II (LACU2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 64729 | 11.94 | 773000 | 0.00% | 19.42% | \*\*\*\* |
|  **Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)** | **Lincoln Variable Insurance Products Trust - LVIP American Century Value Fund: Standard Class II (LACV2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 403 | 10.66 | 4293 | 1.77% | 6.62% | \*\*\*\* |
|  **Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)** | **Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)** | **Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)** | **Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)** | **Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)** | **Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)** | **Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)** | **Lord Abbett Series Fund, Inc. - Bond Debenture Portfolio: Class VC (LOVBD)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 17031 | 23.71 | 403742 | 3.83% | 6.72% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 35029 | 22.21 | 778149 | 4.64% | 6.55% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 51841 | 20.85 | 1080789 | 4.95% | -12.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 32660 | 23.91 | 780865 | 1.28% | 3.28% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 120747 | 23.15 | 2795339 | 11.29% | 7.30% |  |
|  **Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)** | **Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)** | **Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)** | **Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)** | **Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)** | **Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)** | **Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)** | **Lord Abbett Series Fund, Inc. - Dividend Growth Portfolio: Class VC (LOVCDG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 9914 | 61.28 | 607550 | 0.58% | 22.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9591 | 50.17 | 481207 | 0.86% | 16.33% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 9351 | 43.13 | 403347 | 0.94% | -13.55% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10071 | 49.89 | 502452 | 0.74% | 25.62% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 9964 | 39.72 | 395739 | 1.06% | 15.42% |  |
|  **MFS(R)Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)** | **MFS(R)Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)** | **MFS(R)Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)** | **MFS(R)Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)** | **MFS(R)Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)** | **MFS(R)Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)** | **MFS(R)Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)** | **MFS(R)Variable Insurance Trust - MFS Growth Series: Service Class (MEGSS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 11500 | 36.69 | 421911 | 0.00% | 31.15% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 12680 | 27.97 | 354723 | 0.00% | 35.51% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 11293 | 20.64 | 233124 | 0.00% | -31.81% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 14903 | 30.27 | 451150 | 0.00% | 23.24% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 17141 | 24.56 | 421051 | 0.00% | 31.54% |  |
|  **MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)** | **MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)** | **MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)** | **MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)** | **MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)** | **MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)** | **MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)** | **MFS(R)Variable Insurance Trust - MFS New Discovery Series: Service Class (MNDSC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 13471 | 14.23 | 191705 | 0.00% | 6.44% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 30057 | 13.37 | 401882 | 0.00% | 14.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 35033 | 11.70 | 409982 | 0.00% | -29.99% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 19212 | 16.72 | 321170 | 0.00% | 1.57% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3835 | 16.46 | 63117 | 0.00% | 64.58% | \*\*\*\* |
|  **MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)** | **MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)** | **MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)** | **MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)** | **MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)** | **MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)** | **MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)** | **MFS(R)Variable Insurance Trust - MFS Value Series: Service Class (MVFSC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10680 | 21.60 | 230735 | 1.45% | 11.35% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 11669 | 19.40 | 226397 | 1.41% | 7.63% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 11512 | 18.03 | 207504 | 1.30% | -6.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 8225 | 19.21 | 157965 | 0.79% | 25.16% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 24003 | 15.34 | 368319 | 1.00% | 3.22% |  |
|  **MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)** | **MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)** | **MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)** | **MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)** | **MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)** | **MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)** | **MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)** | **MFS(R)Variable Insurance Trust II - MFS International Growth Portfolio: Service Class (MVIGSC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 26827 | 12.25 | 328563 | 0.86% | 8.76% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 30562 | 11.26 | 344150 | 1.25% | 14.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7219 | 9.84 | 71065 | 0.00% | -1.56% | \*\*\*\* |
|  **The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)** | **The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)** | **The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)** | **The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)** | **The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)** | **The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)** | **The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)** | **The Merger Fund VL - The Merger Fund VL: Class I (MGRFV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 31153 | 15.76 | 491036 | 1.54% | 3.44% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 36001 | 15.24 | 548591 | 1.66% | 4.34% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 39278 | 14.60 | 573617 | 1.35% | 0.88% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 54751 | 14.48 | 792619 | 0.00% | 1.08% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 32198 | 14.32 | 461133 | 0.00% | 7.38% |  |
|  **Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)** | **Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)** | **Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)** | **Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)** | **Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)** | **Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)** | **Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)** | **Nationwide Variable Insurance Trust - NVIT DoubleLine Total Return Tactical Fund: Class Y (DTRTFY)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 121536 | 10.58 | 1286089 | 10.27% | 3.63% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 103135 | 10.21 | 1053135 | 3.55% | 5.96% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 102700 | 9.64 | 989692 | 2.84% | -13.05% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 136489 | 11.08 | 1512773 | 2.47% | -0.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 141016 | 11.11 | 1566865 | 2.75% | 3.83% |  |
|  **Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)** | **Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)** | **Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)** | **Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)** | **Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)** | **Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)** | **Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)** | **Nationwide Variable Insurance Trust - NVIT Emerging Markets Fund: Class II (GEM2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3539 | 9.99 | 35347 | 0.61% | 6.00% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9829 | 9.42 | 92612 | 1.35% | 3.86% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7723 | 9.07 | 70062 | 0.77% | -9.28% | \*\*\*\* |
|  **Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)** | **Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)** | **Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)** | **Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)** | **Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)** | **Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)** | **Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)** | **Nationwide Variable Insurance Trust - NVIT International Equity Fund: Class I (GIG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 20668 | 12.32 | 254723 | 4.16% | 11.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 5053 | 11.07 | 55947 | 4.07% | 10.73% | \*\*\*\* |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)** | **Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)** | **Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)** | **Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)** | **Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)** | **Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)** | **Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)** | **Nationwide Variable Insurance Trust - NVIT S&P 500 Index Fund: Class Y (GVEXD)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 400608 | 37.46 | 15006923 | 1.21% | 24.88% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 303558 | 30.00 | 9106037 | 1.48% | 25.87% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 295097 | 23.83 | 7032751 | 1.35% | -18.40% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 239147 | 29.21 | 6984774 | 2.59% | 28.17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 157921 | 22.79 | 3598528 | 2.29% | 17.94% |  |
|  **Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)** | **Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)** | **Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)** | **Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)** | **Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)** | **Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)** | **Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)** | **Nationwide Variable Insurance Trust - NVIT International Index Fund: Class Y (GVIXY)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 138886 | 15.23 | 2115330 | 4.07% | 3.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 111526 | 14.75 | 1645127 | 2.40% | 17.61% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 157037 | 12.54 | 1969591 | 4.76% | -14.36% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 109077 | 14.64 | 1597394 | 2.63% | 10.71% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 133893 | 13.23 | 1771171 | 2.45% | 7.39% |  |
|  **Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)** | **Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)** | **Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)** | **Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)** | **Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)** | **Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)** | **Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)** | **Nationwide Variable Insurance Trust - NVIT Mid Cap Index Fund: Class Y (MCIFD)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 90141 | 26.41 | 2380243 | 1.41% | 13.65% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 69315 | 23.23 | 1610447 | 1.62% | 16.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 54109 | 20.01 | 1082464 | 1.26% | -13.49% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 61169 | 23.12 | 1414503 | 1.70% | 24.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 40344 | 18.63 | 751618 | 1.39% | 13.00% |  |
|  **Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)** | **Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)** | **Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)** | **Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)** | **Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)** | **Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)** | **Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)** | **Nationwide Variable Insurance Trust - NVIT Amundi Multi Sector Bond Fund: Class I (MSBF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 17000 | 11.76 | 199952 | 18.26% | 10.34% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2527 | 10.66 | 26935 | 5.57% | 6.59% | \*\*\*\* |
|  **Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Dynamic U.S. Equity Income: Class X (NVAMVX)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2319 | 12.45 | 28859 | 1.94% | 15.49% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2323 | 10.78 | 25035 | 1.93% | 7.76% | \*\*\*\* |
|  **Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)** | **Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)** | **Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)** | **Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)** | **Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)** | **Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)** | **Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)** | **Nationwide Variable Insurance Trust - NVIT Bond Index Fund: Class Y (NVBXD)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 96376 | 11.57 | 1115213 | 3.27% | 1.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 69831 | 11.44 | 798942 | 3.63% | 5.30% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 47048 | 10.87 | 511198 | 2.74% | -13.45% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 23495 | 12.55 | 294949 | 1.98% | -2.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 25314 | 12.83 | 324855 | 2.21% | 7.07% |  |
|  **Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)** | **Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)** | **Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)** | **Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)** | **Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)** | **Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)** | **Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)** | **Nationwide Variable Insurance Trust - NVIT iShares Fixed Income ETF Fund: Class Y (NVFIY)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3981 | 10.34 | 41173 | 4.15% | 1.36% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3104 | 10.20 | 31674 | 3.06% | 5.68% |  |
|  **Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)** | **Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)** | **Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)** | **Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)** | **Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)** | **Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)** | **Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)** | **Nationwide Variable Insurance Trust - NVIT iShares Global Equity ETF Fund: Class Y (NVGEY)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 9298 | 18.18 | 169083 | 2.48% | 16.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4844 | 15.65 | 75820 | 1.83% | 20.95% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 6305 | 12.94 | 81580 | 2.31% | -16.17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 5629 | 15.44 | 86887 | 3.66% | 22.11% | \*\*\*\* |
|  **Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)** | **Nationwide Variable Insurance Trust - NVIT BNY Mellon Core Plus Bond Fund: Class Y (NVLCPY)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 54157 | 10.66 | 577318 | 8.29% | 2.15% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 22495 | 10.44 | 234760 | 1.89% | 4.36% | \*\*\*\* |
|  **Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)** | **Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)** | **Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)** | **Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)** | **Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)** | **Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)** | **Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)** | **Nationwide Variable Insurance Trust - NVIT Columbia Overseas Value Fund: Class X (NVMIVX)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 7601 | 14.82 | 112618 | 5.88% | 4.44% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8953 | 14.19 | 127015 | 2.79% | 15.67% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8702 | 12.26 | 106718 | 8.81% | -5.86% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 709 | 13.03 | 9235 | 0.47% | 10.58% | \*\*\*\* |
|  **Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)** | **Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)** | **Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)** | **Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)** | **Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)** | **Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)** | **Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)** | **Nationwide Variable Insurance Trust - NVIT Jacobs Levy Large Cap Growth Fund: Class I (NVMLG1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 36668 | 15.43 | 565623 | 0.69% | 26.06% |  |
|  **Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)** | **Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)** | **Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)** | **Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)** | **Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)** | **Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)** | **Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)** | **Nationwide Variable Insurance Trust - NVIT Victory Mid Cap Value Fund: Class I (NVMMV1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6958 | 16.51 | 114868 | 0.96% | 8.54% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 10378 | 15.21 | 157857 | 1.62% | 8.82% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 10712 | 13.98 | 149730 | 1.54% | -2.59% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10013 | 14.35 | 143689 | 0.77% | 24.20% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 18749 | 11.55 | 216625 | 2.24% | -1.07% |  |
|  **Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)** | **Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)** | **Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)** | **Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)** | **Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)** | **Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)** | **Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)** | **Nationwide Variable Insurance Trust - NVIT Calvert Equity Fund: Class I (NVNSR1)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1511 | 17.62 | 26622 | 0.34% | 20.59% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1523 | 14.61 | 22262 | 0.53% | -22.92% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)** | **Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)** | **Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)** | **Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)** | **Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)** | **Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)** | **Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)** | **Nationwide Variable Insurance Trust - NVIT Small Cap Index Fund: Class Y (NVSIXD)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 187244 | 21.48 | 4022797 | 1.48% | 11.35% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 133029 | 19.29 | 2566699 | 1.37% | 16.60% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 156563 | 16.55 | 2590736 | 1.21% | -20.66% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 126330 | 20.86 | 2634734 | 1.18% | 14.26% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 85160 | 18.25 | 1554446 | 1.52% | 19.42% |  |
|  **Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)** | **Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)** | **Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)** | **Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)** | **Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)** | **Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)** | **Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)** | **Nationwide Variable Insurance Trust - NVIT Government Money Market Fund: Class Y (SAMY)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1386643 | 11.34 | 15728033 | 4.90% | 5.04% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 825774 | 10.80 | 8916922 | 4.82% | 4.90% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 754253 | 10.29 | 7763914 | 1.57% | 1.40% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 638734 | 10.15 | 6483891 | 0.00% | 0.00% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 773607 | 10.15 | 7853007 | 0.12% | 0.29% |  |
|  **Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)** | **Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)** | **Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)** | **Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)** | **Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)** | **Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)** | **Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)** | **Nationwide Variable Insurance Trust - NVIT AQR Large Cap Defensive Style Fund: Class I (TRF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 14732 | 19.53 | 287774 | 0.94% | 13.66% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 19502 | 17.19 | 335175 | 1.75% | 8.27% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2049 | 15.87 | 32530 | 2.40% | -8.44% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 640 | 17.34 | 11090 | 1.07% | 21.88% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 287 | 14.22 | 4082 | 0.00% | 10.35% | \*\*\*\* |
|  **Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)** | **Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)** | **Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)** | **Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)** | **Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)** | **Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)** | **Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)** | **Neuberger Berman Advisers Management Trust - Mid-Cap Growth Portfolio: Class I Shares (AMCG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4347 | 72.00 | 313011 | 0.00% | 24.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 5825 | 58.06 | 338182 | 0.00% | 18.15% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 5776 | 49.14 | 283819 | 0.00% | -28.73% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7612 | 68.95 | 524874 | 0.00% | 12.99% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 7650 | 61.03 | 466844 | 0.00% | 39.98% |  |
|  **Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)** | **Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)** | **Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)** | **Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)** | **Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)** | **Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)** | **Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)** | **Neuberger Berman Advisers Management Trust - Mid Cap Intrinsic Value Portfolio: Class I Shares (AMRI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 160 | 39.26 | 6263 | 0.73% | 8.82% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 150 | 36.08 | 5425 | 1.12% | 11.00% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 123 | 32.50 | 3997 | 0.04% | -9.75% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2174 | 36.02 | 78304 | 0.62% | 32.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2151 | 27.12 | 58341 | 0.95% | -2.62% |  |
|  **Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)** | **Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)** | **Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)** | **Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)** | **Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)** | **Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)** | **Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)** | **Neuberger Berman Advisers Management Trust - Short Duration Bond Portfolio: Class I Shares (AMTB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 28968 | 14.42 | 417752 | 6.00% | 6.10% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 30686 | 13.59 | 417105 | 3.18% | 5.90% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 47387 | 12.84 | 608217 | 2.49% | -5.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 44659 | 13.54 | 604563 | 3.65% | 0.74% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5233 | 13.44 | 70319 | 1.65% | 3.46% |  |
|  **New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)** | **New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)** | **New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)** | **New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)** | **New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)** | **New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)** | **New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)** | **New Age Alpha Variable Funds Trust - NAA Large Growth Series (NALG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 16452 | 10.37 | 170661 | 0.00% | 3.73% | \*\*\*\* |
|  **New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)** | **New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)** | **New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)** | **New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)** | **New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)** | **New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)** | **New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)** | **New Age Alpha Variable Funds Trust - NAA Mid Growth Series (NAMG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4808 | 10.00 | 48093 | 0.00% | 0.02% | \*\*\*\* |
|  **New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)** | **New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)** | **New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)** | **New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)** | **New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)** | **New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)** | **New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)** | **New Age Alpha Variable Funds Trust - NAA Small Cap Value Series (NASCV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 43954 | 10.09 | 443346 | 0.00% | 0.87% | \*\*\*\* |
|  **Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)** | **Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)** | **Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)** | **Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)** | **Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)** | **Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)** | **Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)** | **Northern Lights Variable Trust - TOPS Managed Risk Balanced ETF Portfolio: Class 2 (NOTB2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 7378 | 16.22 | 119667 | 0.27% | 9.03% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8255 | 14.88 | 122791 | 18.24% | -11.85% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 8679 | 16.87 | 146460 | 1.06% | 8.57% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 13582 | 15.54 | 211096 | 2.34% | 5.90% | \*\*\*\* |
|  **Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)** | **Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)** | **Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)** | **Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)** | **Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)** | **Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)** | **Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)** | **Northern Lights Variable Trust - BTS Tactical Fixed Income VIT Fund: Class 2 (NOTBBA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 721 | 10.06 | 7255 | 3.78% | 4.81% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 721 | 9.60 | 6922 | 2.02% | 1.53% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 721 | 9.46 | 6818 | 1.82% | -13.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 721 | 10.88 | 7848 | 0.35% | -2.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 721 | 11.15 | 8039 | 2.29% | 2.42% |  |
|  **Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)** | **Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)** | **Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)** | **Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)** | **Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)** | **Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)** | **Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)** | **Northern Lights Variable Trust - TOPS Conservative ETF Portfolio: Class 2 (NOTC2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6827 | 16.73 | 114199 | 2.42% | 6.00% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 6870 | 15.78 | 108407 | 2.13% | 9.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 9761 | 14.45 | 141071 | 1.83% | -8.85% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)** | **Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)** | **Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)** | **Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)** | **Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)** | **Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)** | **Northern Lights Variable Trust - Donoghue Forlines Dividend VIT Fund: Class 1 (NOVPDI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 456 | 17.89 | 8149 | 1.56% | 12.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 466 | 15.86 | 7387 | 1.72% | -1.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 474 | 16.12 | 7642 | 1.70% | -10.35% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 481 | 17.98 | 8647 | 1.26% | 30.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 490 | 13.80 | 6761 | 2.16% | -7.25% |
|  **Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)** | **Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)** | **Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)** | **Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)** | **Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)** | **Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)** | **Northern Lights Variable Trust - Donoghue Forlines Momentum VIT Fund: Class 1 (NOVPM)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 304 | 29.69 | 9011 | 0.00% | 23.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 304 | 24.13 | 7325 | 0.00% | 19.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 304 | 20.14 | 6113 | 0.00% | -22.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 304 | 26.01 | 7894 | 0.00% | 29.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 304 | 20.06 | 6098 | 0.18% | -1.20% |
|  **New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)** | **New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)** | **New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)** | **New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)** | **New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)** | **New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)** | **New York Life Investments VP Funds Trust - NYLI VP MacKay Convertible Portfolio: Service Class (MNCPS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 20955 | 19.14 | 401046 | 3.06% | 8.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 17259 | 17.66 | 304796 | 1.78% | 8.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 34689 | 16.26 | 564196 | 2.69% | -12.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 51028 | 18.67 | 952762 | 1.02% | 8.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 71961 | 17.13 | 1232931 | 0.45% | 35.70% |
|  **PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)** | **PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)** | **PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)** | **PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)** | **PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)** | **PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)** | **PIMCO Variable Insurance Trust - Dynamic Bond Portfolio: Administrative Class (PMUBAM)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2215 | 14.02 | 31064 | 4.45% | 5.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 28735 | 13.28 | 381549 | 3.71% | 7.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 26922 | 12.40 | 333811 | 2.91% | -6.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1147 | 13.24 | 15188 | 2.08% | 1.29% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1349 | 13.07 | 17635 | 4.84% | 4.81% |
|  **PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)** | **PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)** | **PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)** | **PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)** | **PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)** | **PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)** | **PIMCO Variable Insurance Trust - All Asset Portfolio: Administrative Class (PMVAAA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3758 | 23.79 | 89402 | 6.65% | 3.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4338 | 22.93 | 99462 | 3.32% | 8.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3083 | 21.20 | 65372 | 8.04% | -11.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2164 | 24.05 | 52051 | 11.21% | 16.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2025 | 20.69 | 41905 | 5.02% | 8.01% |
|  **PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)** | **PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)** | **PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)** | **PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)** | **PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)** | **PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)** | **PIMCO Variable Insurance Trust - Emerging Markets Bond Portfolio: Administrative Class (PMVEBA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 12979 | 23.63 | 306747 | 6.50% | 7.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 12545 | 21.98 | 275725 | 5.78% | 11.10% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 29619 | 19.78 | 585985 | 4.84% | -15.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 51815 | 23.47 | 1216185 | 4.43% | -2.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 13712 | 24.09 | 330306 | 5.26% | 6.71% |
|  **PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (unhedged): Administrative Class (PMVFBA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1807 | 12.41 | 22422 | 3.15% | -3.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8076 | 12.85 | 103763 | 2.52% | 6.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7663 | 12.10 | 92705 | 1.79% | -18.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1157 | 14.93 | 17272 | 5.85% | -7.52% |
|  **PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)** | **PIMCO Variable Insurance Trust - International Bond Portfolio (U.S. Dollar-Hedged): Administrative Class (PMVFHA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 19484 | 22.21 | 432670 | 3.52% | 5.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 25683 | 21.06 | 540789 | 2.59% | 9.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 19807 | 19.32 | 382596 | 1.50% | -10.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 28378 | 21.50 | 610114 | 1.55% | -1.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 25207 | 21.93 | 552754 | 6.02% | 5.56% |
|  **PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)** | **PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)** | **PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)** | **PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)** | **PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)** | **PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)** | **PIMCO Variable Insurance Trust - Global Bond Opportunities Portfolio (Unhedged): Administrative Class (PMVGBA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 49900 | 17.00 | 848194 | 3.57% | -0.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 25434 | 17.08 | 434504 | 2.25% | 5.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 25870 | 16.23 | 419897 | 1.50% | -11.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 21611 | 18.24 | 394145 | 4.72% | -4.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 7475 | 19.03 | 142243 | 2.39% | 10.12% |
|  **PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)** | **PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)** | **PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)** | **PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)** | **PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)** | **PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)** | **PIMCO Variable Insurance Trust - High Yield Portfolio: Administrative Class (PMVHYA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 35679 | 27.07 | 965915 | 5.85% | 6.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 32923 | 25.33 | 833900 | 5.59% | 12.20% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 20402 | 22.57 | 460553 | 4.96% | -10.28% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 26431 | 25.16 | 665037 | 4.45% | 3.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 16783 | 24.28 | 407484 | 4.84% | 5.75% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)** | **PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)** | **PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)** | **PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)** | **PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)** | **PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)** | **PIMCO Variable Insurance Trust - Income Portfolio: Administrative Class (PMVID)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 618321 | 14.20 | 8782534 | 5.87% | 5.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 482526 | 13.47 | 6501903 | 5.29% | 8.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 404595 | 12.45 | 5036981 | 3.76% | -7.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 332533 | 13.50 | 4488930 | 2.88% | 2.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 292327 | 13.24 | 3868988 | 4.64% | 6.51% |
|  **PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)** | **PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)** | **PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)** | **PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)** | **PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)** | **PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)** | **PIMCO Variable Insurance Trust - Low Duration Portfolio: Administrative Class (PMVLDA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 130025 | 15.69 | 2040333 | 3.99% | 4.50% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 127523 | 15.02 | 1914933 | 3.59% | 4.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 134060 | 14.31 | 1917920 | 1.71% | -5.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 107753 | 15.18 | 1635456 | 0.53% | -0.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 95025 | 15.32 | 1455767 | 1.15% | 2.99% |
|  **PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)** | **PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)** | **PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)** | **PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)** | **PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)** | **PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)** | **PIMCO Variable Insurance Trust - Long-Term U.S. Government Portfolio: Administrative Class (PMVLGA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 77950 | 18.30 | 1426281 | 2.74% | -6.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 21430 | 19.47 | 417206 | 2.38% | 3.98% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 33657 | 18.72 | 630154 | 2.03% | -28.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 29577 | 26.32 | 778577 | 1.54% | -4.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 18377 | 27.65 | 508048 | 1.58% | 17.39% |
|  **PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)** | **PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)** | **PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)** | **PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)** | **PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)** | **PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)** | **PIMCO Variable Insurance Trust - Real Return Portfolio: Administrative Class (PMVRRA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 43609 | 18.79 | 819391 | 2.54% | 2.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 97318 | 18.40 | 1790460 | 3.00% | 3.67% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 97410 | 17.75 | 1728709 | 6.85% | -11.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 89247 | 20.14 | 1797859 | 4.89% | 5.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 71647 | 19.08 | 1366949 | 1.38% | 11.71% |
|  **PIMCO Variable Insurance Trust - CommodityRealReturn(R)Strategy Portfolio: Administrative Class (PMVRSA)** | **PIMCO Variable Insurance Trust - CommodityRealReturn(R)Strategy Portfolio: Administrative Class (PMVRSA)** | **PIMCO Variable Insurance Trust - CommodityRealReturn(R)Strategy Portfolio: Administrative Class (PMVRSA)** | **PIMCO Variable Insurance Trust - CommodityRealReturn(R)Strategy Portfolio: Administrative Class (PMVRSA)** | **PIMCO Variable Insurance Trust - CommodityRealReturn(R)Strategy Portfolio: Administrative Class (PMVRSA)** | **PIMCO Variable Insurance Trust - CommodityRealReturn(R)Strategy Portfolio: Administrative Class (PMVRSA)** | **PIMCO Variable Insurance Trust - CommodityRealReturn(R)Strategy Portfolio: Administrative Class (PMVRSA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 9098 | 9.37 | 85217 | 2.30% | 4.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8133 | 8.99 | 73135 | 16.10% | -7.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 6859 | 9.76 | 66933 | 19.88% | 8.61% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 6932 | 8.98 | 62282 | 4.66% | 33.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3529 | 6.74 | 23779 | 6.66% | 1.35% |
|  **PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)** | **PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)** | **PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)** | **PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)** | **PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)** | **PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)** | **PIMCO Variable Insurance Trust - Total Return Portfolio: Administrative Class (PMVTRA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 240405 | 19.97 | 4801609 | 4.04% | 2.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 185430 | 19.48 | 3612147 | 3.56% | 5.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 180794 | 18.39 | 3324867 | 2.61% | -14.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 180284 | 21.46 | 3868711 | 1.83% | -1.27% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 212965 | 21.73 | 4628614 | 2.09% | 8.65% |
|  **PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)** | **PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)** | **PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)** | **PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)** | **PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)** | **PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)** | **PIMCO Variable Insurance Trust - Global Core Bond (Hedged) Portfolio: Administrative Class (PVGCBA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 11901 | 12.26 | 145950 | 4.02% | 3.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2349 | 11.84 | 27815 | 2.40% | 7.97% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 89 | 10.97 | 977 | 1.77% | -11.54% |
|  **PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)** | **PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)** | **PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)** | **PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)** | **PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)** | **PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)** | **PIMCO Variable Insurance Trust - Global Managed Asset Allocation Portfolio: Administrative Class (PVGMAA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 9287 | 18.60 | 172697 | 3.57% | 10.81% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 9377 | 16.78 | 157369 | 2.39% | 13.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8169 | 14.85 | 121295 | 2.07% | -18.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 8250 | 18.19 | 150042 | 0.04% | 12.63% |
|  **PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)** | **PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)** | **PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)** | **PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)** | **PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)** | **PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)** | **PIMCO Variable Insurance Trust - Short-Term Portfolio: Administrative Class (PVSTA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 153510 | 16.14 | 2476960 | 4.99% | 6.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 96160 | 15.21 | 1463029 | 4.49% | 5.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 84838 | 14.37 | 1218958 | 1.80% | -0.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 67223 | 14.39 | 967338 | 1.32% | -0.06% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 70484 | 14.40 | 1014824 | 1.25% | 2.24% |
|  **ProFunds - ProFund VP Asia 30 (PROA30)** | **ProFunds - ProFund VP Asia 30 (PROA30)** | **ProFunds - ProFund VP Asia 30 (PROA30)** | **ProFunds - ProFund VP Asia 30 (PROA30)** | **ProFunds - ProFund VP Asia 30 (PROA30)** | **ProFunds - ProFund VP Asia 30 (PROA30)** | **ProFunds - ProFund VP Asia 30 (PROA30)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 750 | 14.83 | 11119 | 0.00% | -18.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1108 | 18.20 | 20170 | 0.11% | 35.55% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **ProFunds - ProFund Access VP High Yield (PROAHY)** | **ProFunds - ProFund Access VP High Yield (PROAHY)** | **ProFunds - ProFund Access VP High Yield (PROAHY)** | **ProFunds - ProFund Access VP High Yield (PROAHY)** | **ProFunds - ProFund Access VP High Yield (PROAHY)** | **ProFunds - ProFund Access VP High Yield (PROAHY)** | **ProFunds - ProFund Access VP High Yield (PROAHY)** | **ProFunds - ProFund Access VP High Yield (PROAHY)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10728 | 20.09 | 215559 | 5.30% | 6.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 11026 | 18.90 | 208403 | 5.01% | 10.43% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 12589 | 17.12 | 215479 | 6.20% | -7.97% |  |
|  **ProFunds - ProFund VP Biotechnology (PROBIO)** | **ProFunds - ProFund VP Biotechnology (PROBIO)** | **ProFunds - ProFund VP Biotechnology (PROBIO)** | **ProFunds - ProFund VP Biotechnology (PROBIO)** | **ProFunds - ProFund VP Biotechnology (PROBIO)** | **ProFunds - ProFund VP Biotechnology (PROBIO)** | **ProFunds - ProFund VP Biotechnology (PROBIO)** | **ProFunds - ProFund VP Biotechnology (PROBIO)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 627 | 51.79 | 32457 | 0.00% | -0.15% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 854 | 51.87 | 44315 | 0.00% | 10.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1099 | 47.09 | 51773 | 0.00% | -7.71% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2315 | 51.02 | 118117 | 0.00% | 15.73% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 886 | 44.09 | 39062 | 0.02% | 15.38% |  |
|  **ProFunds - ProFund VP Bull (PROBL)** | **ProFunds - ProFund VP Bull (PROBL)** | **ProFunds - ProFund VP Bull (PROBL)** | **ProFunds - ProFund VP Bull (PROBL)** | **ProFunds - ProFund VP Bull (PROBL)** | **ProFunds - ProFund VP Bull (PROBL)** | **ProFunds - ProFund VP Bull (PROBL)** | **ProFunds - ProFund VP Bull (PROBL)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 28252 | 49.05 | 1385763 | 0.98% | 22.49% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 35039 | 40.04 | 1403068 | 0.00% | 23.74% |  |
|  **ProFunds - ProFund VP Materials (PROBM)** | **ProFunds - ProFund VP Materials (PROBM)** | **ProFunds - ProFund VP Materials (PROBM)** | **ProFunds - ProFund VP Materials (PROBM)** | **ProFunds - ProFund VP Materials (PROBM)** | **ProFunds - ProFund VP Materials (PROBM)** | **ProFunds - ProFund VP Materials (PROBM)** | **ProFunds - ProFund VP Materials (PROBM)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 344 | 24.19 | 8315 | 0.49% | 12.38% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 162 | 23.69 | 3835 | 0.26% | 25.63% |  |
|  **ProFunds - ProFund VP Banks (PROBNK)** | **ProFunds - ProFund VP Banks (PROBNK)** | **ProFunds - ProFund VP Banks (PROBNK)** | **ProFunds - ProFund VP Banks (PROBNK)** | **ProFunds - ProFund VP Banks (PROBNK)** | **ProFunds - ProFund VP Banks (PROBNK)** | **ProFunds - ProFund VP Banks (PROBNK)** | **ProFunds - ProFund VP Banks (PROBNK)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1201 | 23.57 | 28297 | 0.86% | -19.88% |  |
|  **ProFunds - ProFund VP Consumer Staples (PROCG)** | **ProFunds - ProFund VP Consumer Staples (PROCG)** | **ProFunds - ProFund VP Consumer Staples (PROCG)** | **ProFunds - ProFund VP Consumer Staples (PROCG)** | **ProFunds - ProFund VP Consumer Staples (PROCG)** | **ProFunds - ProFund VP Consumer Staples (PROCG)** | **ProFunds - ProFund VP Consumer Staples (PROCG)** | **ProFunds - ProFund VP Consumer Staples (PROCG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6492 | 33.62 | 218291 | 0.88% | 10.36% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8770 | 30.47 | 267206 | 0.14% | 3.92% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 6028 | 29.32 | 176737 | 0.05% | -24.70% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2622 | 38.93 | 102079 | 0.41% | 19.65% | \*\*\*\* |
|  **ProFunds - ProFund VP Consumer Discretionary (PROCS)** | **ProFunds - ProFund VP Consumer Discretionary (PROCS)** | **ProFunds - ProFund VP Consumer Discretionary (PROCS)** | **ProFunds - ProFund VP Consumer Discretionary (PROCS)** | **ProFunds - ProFund VP Consumer Discretionary (PROCS)** | **ProFunds - ProFund VP Consumer Discretionary (PROCS)** | **ProFunds - ProFund VP Consumer Discretionary (PROCS)** | **ProFunds - ProFund VP Consumer Discretionary (PROCS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4030 | 43.58 | 175641 | 0.00% | 32.05% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3942 | 48.20 | 189989 | 0.00% | 10.23% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2313 | 43.73 | 101143 | 0.00% | 28.34% |  |
|  **ProFunds - ProFund VP Europe 30 (PROE30)** | **ProFunds - ProFund VP Europe 30 (PROE30)** | **ProFunds - ProFund VP Europe 30 (PROE30)** | **ProFunds - ProFund VP Europe 30 (PROE30)** | **ProFunds - ProFund VP Europe 30 (PROE30)** | **ProFunds - ProFund VP Europe 30 (PROE30)** | **ProFunds - ProFund VP Europe 30 (PROE30)** | **ProFunds - ProFund VP Europe 30 (PROE30)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 786 | 16.55 | 13016 | 0.00% | 24.53% |  |
|  **ProFunds - ProFund VP Emerging Markets (PROEM)** | **ProFunds - ProFund VP Emerging Markets (PROEM)** | **ProFunds - ProFund VP Emerging Markets (PROEM)** | **ProFunds - ProFund VP Emerging Markets (PROEM)** | **ProFunds - ProFund VP Emerging Markets (PROEM)** | **ProFunds - ProFund VP Emerging Markets (PROEM)** | **ProFunds - ProFund VP Emerging Markets (PROEM)** | **ProFunds - ProFund VP Emerging Markets (PROEM)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3489 | 11.95 | 41676 | 0.73% | 7.85% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3129 | 11.08 | 34654 | 1.42% | 15.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1101 | 9.61 | 10576 | 0.32% | -16.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7608 | 11.46 | 87197 | 0.00% | -18.01% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1322 | 13.98 | 18481 | 0.57% | 26.72% |  |
|  **ProFunds - ProFund VP Financials (PROFIN)** | **ProFunds - ProFund VP Financials (PROFIN)** | **ProFunds - ProFund VP Financials (PROFIN)** | **ProFunds - ProFund VP Financials (PROFIN)** | **ProFunds - ProFund VP Financials (PROFIN)** | **ProFunds - ProFund VP Financials (PROFIN)** | **ProFunds - ProFund VP Financials (PROFIN)** | **ProFunds - ProFund VP Financials (PROFIN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 3562 | 39.34 | 140126 | 0.04% | 28.45% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2893 | 30.63 | 88616 | 0.33% | 13.88% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2885 | 26.89 | 77600 | 0.10% | -15.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1257 | 31.69 | 39838 | 0.00% | 30.10% |  |
|  **ProFunds - ProFund VP Government Money Market (PROGMM)** | **ProFunds - ProFund VP Government Money Market (PROGMM)** | **ProFunds - ProFund VP Government Money Market (PROGMM)** | **ProFunds - ProFund VP Government Money Market (PROGMM)** | **ProFunds - ProFund VP Government Money Market (PROGMM)** | **ProFunds - ProFund VP Government Money Market (PROGMM)** | **ProFunds - ProFund VP Government Money Market (PROGMM)** | **ProFunds - ProFund VP Government Money Market (PROGMM)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 43 | 10.14 | 436 | 0.07% | 0.04% |  |
|  **ProFunds - ProFund VP Health Care (PROHC)** | **ProFunds - ProFund VP Health Care (PROHC)** | **ProFunds - ProFund VP Health Care (PROHC)** | **ProFunds - ProFund VP Health Care (PROHC)** | **ProFunds - ProFund VP Health Care (PROHC)** | **ProFunds - ProFund VP Health Care (PROHC)** | **ProFunds - ProFund VP Health Care (PROHC)** | **ProFunds - ProFund VP Health Care (PROHC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2313 | 46.17 | 106788 | 0.10% | 0.82% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1292 | 45.80 | 59170 | 0.00% | 0.82% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3666 | 45.42 | 166536 | 0.00% | -6.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 571 | 48.34 | 27583 | 0.03% | 21.54% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 472 | 39.77 | 18772 | 0.00% | 14.44% |  |
|  **ProFunds - ProFund VP Industrials (PROIND)** | **ProFunds - ProFund VP Industrials (PROIND)** | **ProFunds - ProFund VP Industrials (PROIND)** | **ProFunds - ProFund VP Industrials (PROIND)** | **ProFunds - ProFund VP Industrials (PROIND)** | **ProFunds - ProFund VP Industrials (PROIND)** | **ProFunds - ProFund VP Industrials (PROIND)** | **ProFunds - ProFund VP Industrials (PROIND)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10853 | 43.60 | 473209 | 0.16% | 15.47% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 8155 | 37.76 | 307924 | 0.00% | 16.30% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2778 | 32.47 | 90201 | 0.00% | -15.60% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1800 | 38.47 | 69257 | 0.00% | 16.40% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 755 | 33.05 | 24954 | 0.19% | 16.76% |  |
|  **ProFunds - ProFund VP Japan (PROJP)** | **ProFunds - ProFund VP Japan (PROJP)** | **ProFunds - ProFund VP Japan (PROJP)** | **ProFunds - ProFund VP Japan (PROJP)** | **ProFunds - ProFund VP Japan (PROJP)** | **ProFunds - ProFund VP Japan (PROJP)** | **ProFunds - ProFund VP Japan (PROJP)** | **ProFunds - ProFund VP Japan (PROJP)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6353 | 33.19 | 210842 | 4.24% | 22.22% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2007 | 27.16 | 54512 | 0.00% | 34.51% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1825 | 20.19 | 36844 | 0.00% | -9.92% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3253 | 22.41 | 72918 | 0.00% | 3.89% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1468 | 21.57 | 31671 | 0.14% | 15.93% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **ProFunds - ProFund VP Large-Cap Growth (PROLCG)** | **ProFunds - ProFund VP Large-Cap Growth (PROLCG)** | **ProFunds - ProFund VP Large-Cap Growth (PROLCG)** | **ProFunds - ProFund VP Large-Cap Growth (PROLCG)** | **ProFunds - ProFund VP Large-Cap Growth (PROLCG)** | **ProFunds - ProFund VP Large-Cap Growth (PROLCG)** | **ProFunds - ProFund VP Large-Cap Growth (PROLCG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 567 | 64.73 | 36697 | 0.00% | 33.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1230 | 48.38 | 59491 | 0.00% | 27.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 150 | 37.84 | 5690 | 0.00% | -30.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 17681 | 54.56 | 964588 | 0.00% | 29.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 13824 | 42.01 | 580747 | 0.00% | 30.93% |
|  **ProFunds - ProFund VP Large-Cap Value (PROLCV)** | **ProFunds - ProFund VP Large-Cap Value (PROLCV)** | **ProFunds - ProFund VP Large-Cap Value (PROLCV)** | **ProFunds - ProFund VP Large-Cap Value (PROLCV)** | **ProFunds - ProFund VP Large-Cap Value (PROLCV)** | **ProFunds - ProFund VP Large-Cap Value (PROLCV)** | **ProFunds - ProFund VP Large-Cap Value (PROLCV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 12058 | 33.86 | 408248 | 0.15% | 20.09% |
|  **ProFunds - ProFund VP Mid-Cap (PROMC)** | **ProFunds - ProFund VP Mid-Cap (PROMC)** | **ProFunds - ProFund VP Mid-Cap (PROMC)** | **ProFunds - ProFund VP Mid-Cap (PROMC)** | **ProFunds - ProFund VP Mid-Cap (PROMC)** | **ProFunds - ProFund VP Mid-Cap (PROMC)** | **ProFunds - ProFund VP Mid-Cap (PROMC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 368 | 34.32 | 12637 | 1.40% | 11.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2449 | 30.88 | 75625 | 0.00% | 13.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2858 | 27.13 | 77517 | 0.00% | -14.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2484 | 31.88 | 79182 | 0.00% | 22.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2504 | 26.09 | 65324 | 0.95% | 10.76% |
|  **ProFunds - ProFund VP Mid-Cap Growth (PROMCG)** | **ProFunds - ProFund VP Mid-Cap Growth (PROMCG)** | **ProFunds - ProFund VP Mid-Cap Growth (PROMCG)** | **ProFunds - ProFund VP Mid-Cap Growth (PROMCG)** | **ProFunds - ProFund VP Mid-Cap Growth (PROMCG)** | **ProFunds - ProFund VP Mid-Cap Growth (PROMCG)** | **ProFunds - ProFund VP Mid-Cap Growth (PROMCG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1861 | 38.23 | 71129 | 0.00% | 13.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1872 | 33.56 | 62818 | 0.00% | 15.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1883 | 29.04 | 54683 | 0.00% | -20.34% |
|  **ProFunds - ProFund VP Mid-Cap Value (PROMCV)** | **ProFunds - ProFund VP Mid-Cap Value (PROMCV)** | **ProFunds - ProFund VP Mid-Cap Value (PROMCV)** | **ProFunds - ProFund VP Mid-Cap Value (PROMCV)** | **ProFunds - ProFund VP Mid-Cap Value (PROMCV)** | **ProFunds - ProFund VP Mid-Cap Value (PROMCV)** | **ProFunds - ProFund VP Mid-Cap Value (PROMCV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 223 | 32.19 | 7177 | 0.29% | 13.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 226 | 28.37 | 6400 | 0.12% | -8.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 148 | 30.99 | 4581 | 0.03% | 28.53% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 4368 | 24.11 | 105316 | 0.41% | 2.30% |
|  **ProFunds - ProFund VP Nasdaq-100 (PRON)** | **ProFunds - ProFund VP Nasdaq-100 (PRON)** | **ProFunds - ProFund VP Nasdaq-100 (PRON)** | **ProFunds - ProFund VP Nasdaq-100 (PRON)** | **ProFunds - ProFund VP Nasdaq-100 (PRON)** | **ProFunds - ProFund VP Nasdaq-100 (PRON)** | **ProFunds - ProFund VP Nasdaq-100 (PRON)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4014 | 91.17 | 365950 | 0.47% | 23.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2113 | 73.86 | 156039 | 0.00% | 52.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3167 | 48.54 | 153692 | 0.00% | -33.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 312 | 73.44 | 22920 | 0.00% | 24.80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3035 | 58.84 | 178594 | 0.00% | 45.57% |
|  **ProFunds - ProFund VP Internet (PRONET)** | **ProFunds - ProFund VP Internet (PRONET)** | **ProFunds - ProFund VP Internet (PRONET)** | **ProFunds - ProFund VP Internet (PRONET)** | **ProFunds - ProFund VP Internet (PRONET)** | **ProFunds - ProFund VP Internet (PRONET)** | **ProFunds - ProFund VP Internet (PRONET)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1699 | 63.12 | 107223 | 0.00% | 29.34% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2934 | 48.80 | 143181 | 0.00% | 49.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1727 | 32.57 | 56260 | 0.00% | -46.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 5832 | 60.45 | 352586 | 0.00% | 5.30% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6421 | 57.41 | 368633 | 0.00% | 50.82% |
|  **ProFunds - ProFund VP Energy (PROOG)** | **ProFunds - ProFund VP Energy (PROOG)** | **ProFunds - ProFund VP Energy (PROOG)** | **ProFunds - ProFund VP Energy (PROOG)** | **ProFunds - ProFund VP Energy (PROOG)** | **ProFunds - ProFund VP Energy (PROOG)** | **ProFunds - ProFund VP Energy (PROOG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1424 | 16.81 | 23935 | 1.62% | 3.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 5137 | 16.20 | 83231 | 1.96% | -2.49% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3797 | 16.62 | 63096 | 0.67% | 59.43% |
|  **ProFunds - ProFund VP Precious Metals (PROPM)** | **ProFunds - ProFund VP Precious Metals (PROPM)** | **ProFunds - ProFund VP Precious Metals (PROPM)** | **ProFunds - ProFund VP Precious Metals (PROPM)** | **ProFunds - ProFund VP Precious Metals (PROPM)** | **ProFunds - ProFund VP Precious Metals (PROPM)** | **ProFunds - ProFund VP Precious Metals (PROPM)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4084 | 6.11 | 24968 | 3.28% | 6.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4232 | 5.74 | 24279 | 0.00% | 1.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2343 | 5.65 | 13244 | 0.00% | -11.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 5512 | 6.35 | 35016 | 0.00% | -8.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5114 | 6.98 | 35679 | 0.03% | 24.10% |
|  **ProFunds - ProFund VP Real Estate (PRORE)** | **ProFunds - ProFund VP Real Estate (PRORE)** | **ProFunds - ProFund VP Real Estate (PRORE)** | **ProFunds - ProFund VP Real Estate (PRORE)** | **ProFunds - ProFund VP Real Estate (PRORE)** | **ProFunds - ProFund VP Real Estate (PRORE)** | **ProFunds - ProFund VP Real Estate (PRORE)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 5855 | 24.28 | 142167 | 0.53% | 3.55% |
|  **ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)** | **ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)** | **ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)** | **ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)** | **ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)** | **ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)** | **ProFunds - ProFund VP Rising Rates Opportunity (PRORRO)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 5000 | 4.18 | 20876 | 5.11% | 19.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2756 | 3.51 | 9669 | 0.12% | 1.75% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 16698 | 3.45 | 57576 | 0.00% | 58.47% |
|  **ProFunds - ProFund VP Small-Cap (PROSC)** | **ProFunds - ProFund VP Small-Cap (PROSC)** | **ProFunds - ProFund VP Small-Cap (PROSC)** | **ProFunds - ProFund VP Small-Cap (PROSC)** | **ProFunds - ProFund VP Small-Cap (PROSC)** | **ProFunds - ProFund VP Small-Cap (PROSC)** | **ProFunds - ProFund VP Small-Cap (PROSC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 5640 | 29.02 | 163673 | 1.39% | 9.46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4166 | 26.51 | 110452 | 0.00% | 14.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3542 | 23.07 | 81726 | 0.00% | -21.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 3395 | 29.52 | 100224 | 0.00% | 12.88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 1818 | 26.15 | 47548 | 0.06% | 17.06% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **ProFunds - ProFund VP Small-Cap Growth (PROSCG)** | **ProFunds - ProFund VP Small-Cap Growth (PROSCG)** | **ProFunds - ProFund VP Small-Cap Growth (PROSCG)** | **ProFunds - ProFund VP Small-Cap Growth (PROSCG)** | **ProFunds - ProFund VP Small-Cap Growth (PROSCG)** | **ProFunds - ProFund VP Small-Cap Growth (PROSCG)** | **ProFunds - ProFund VP Small-Cap Growth (PROSCG)** | **ProFunds - ProFund VP Small-Cap Growth (PROSCG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 987 | 38.59 | 38087 | 0.00% | 7.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 281 | 35.80 | 10071 | 0.00% | 15.19% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 196 | 31.08 | 6102 | 0.00% | -22.41% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 138 | 40.06 | 5539 | 0.00% | 20.64% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 546 | 33.20 | 18128 | 0.00% | 17.39% |  |
|  **ProFunds - ProFund VP Semiconductor (PROSCN)** | **ProFunds - ProFund VP Semiconductor (PROSCN)** | **ProFunds - ProFund VP Semiconductor (PROSCN)** | **ProFunds - ProFund VP Semiconductor (PROSCN)** | **ProFunds - ProFund VP Semiconductor (PROSCN)** | **ProFunds - ProFund VP Semiconductor (PROSCN)** | **ProFunds - ProFund VP Semiconductor (PROSCN)** | **ProFunds - ProFund VP Semiconductor (PROSCN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4723 | 175.64 | 829564 | 0.00% | 70.73% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4204 | 102.87 | 432520 | 0.00% | 93.66% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1586 | 53.12 | 84260 | 0.00% | -37.50% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2106 | 85.00 | 179006 | 0.00% | 48.49% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2512 | 57.24 | 143789 | 0.35% | 44.85% |  |
|  **ProFunds - ProFund VP Small-Cap Value (PROSCV)** | **ProFunds - ProFund VP Small-Cap Value (PROSCV)** | **ProFunds - ProFund VP Small-Cap Value (PROSCV)** | **ProFunds - ProFund VP Small-Cap Value (PROSCV)** | **ProFunds - ProFund VP Small-Cap Value (PROSCV)** | **ProFunds - ProFund VP Small-Cap Value (PROSCV)** | **ProFunds - ProFund VP Small-Cap Value (PROSCV)** | **ProFunds - ProFund VP Small-Cap Value (PROSCV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 129 | 29.78 | 3855 | 0.02% | 12.94% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 136 | 26.37 | 3585 | 0.00% | -12.41% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 692 | 23.42 | 16204 | 0.03% | 1.06% |  |
|  **ProFunds - ProFund VP Short Nasdaq-100 (PROSN)** | **ProFunds - ProFund VP Short Nasdaq-100 (PROSN)** | **ProFunds - ProFund VP Short Nasdaq-100 (PROSN)** | **ProFunds - ProFund VP Short Nasdaq-100 (PROSN)** | **ProFunds - ProFund VP Short Nasdaq-100 (PROSN)** | **ProFunds - ProFund VP Short Nasdaq-100 (PROSN)** | **ProFunds - ProFund VP Short Nasdaq-100 (PROSN)** | **ProFunds - ProFund VP Short Nasdaq-100 (PROSN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7127 | 0.84 | 6005 | 0.00% | 35.06% |  |
|  **ProFunds - ProFund VP Technology (PROTEC)** | **ProFunds - ProFund VP Technology (PROTEC)** | **ProFunds - ProFund VP Technology (PROTEC)** | **ProFunds - ProFund VP Technology (PROTEC)** | **ProFunds - ProFund VP Technology (PROTEC)** | **ProFunds - ProFund VP Technology (PROTEC)** | **ProFunds - ProFund VP Technology (PROTEC)** | **ProFunds - ProFund VP Technology (PROTEC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2588 | 90.37 | 233891 | 0.00% | 19.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 978 | 75.44 | 73798 | 0.00% | 57.95% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 537 | 47.76 | 25647 | 0.00% | -35.72% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 316 | 74.30 | 23487 | 0.00% | 34.96% |  |
|  **ProFunds - ProFund VP Communication Services (PROTEL)** | **ProFunds - ProFund VP Communication Services (PROTEL)** | **ProFunds - ProFund VP Communication Services (PROTEL)** | **ProFunds - ProFund VP Communication Services (PROTEL)** | **ProFunds - ProFund VP Communication Services (PROTEL)** | **ProFunds - ProFund VP Communication Services (PROTEL)** | **ProFunds - ProFund VP Communication Services (PROTEL)** | **ProFunds - ProFund VP Communication Services (PROTEL)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 92 | 27.95 | 2559 | 0.00% | 32.64% |  |
|  **ProFunds - ProFund VP UltraBull (PROUB)** | **ProFunds - ProFund VP UltraBull (PROUB)** | **ProFunds - ProFund VP UltraBull (PROUB)** | **ProFunds - ProFund VP UltraBull (PROUB)** | **ProFunds - ProFund VP UltraBull (PROUB)** | **ProFunds - ProFund VP UltraBull (PROUB)** | **ProFunds - ProFund VP UltraBull (PROUB)** | **ProFunds - ProFund VP UltraBull (PROUB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1605 | 145.01 | 232689 | 0.69% | 42.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1349 | 102.11 | 137705 | 0.00% | 45.23% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1505 | 70.30 | 105792 | 0.00% | -39.12% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1311 | 115.48 | 151436 | 0.00% | 58.14% | \*\*\*\* |
|  **ProFunds - ProFund VP UltraMid-Cap (PROUMC)** | **ProFunds - ProFund VP UltraMid-Cap (PROUMC)** | **ProFunds - ProFund VP UltraMid-Cap (PROUMC)** | **ProFunds - ProFund VP UltraMid-Cap (PROUMC)** | **ProFunds - ProFund VP UltraMid-Cap (PROUMC)** | **ProFunds - ProFund VP UltraMid-Cap (PROUMC)** | **ProFunds - ProFund VP UltraMid-Cap (PROUMC)** | **ProFunds - ProFund VP UltraMid-Cap (PROUMC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 7 | 71.57 | 510 | 0.00% | 46.67% |  |
|  **ProFunds - ProFund VP UltraNasdaq-100 (PROUN)** | **ProFunds - ProFund VP UltraNasdaq-100 (PROUN)** | **ProFunds - ProFund VP UltraNasdaq-100 (PROUN)** | **ProFunds - ProFund VP UltraNasdaq-100 (PROUN)** | **ProFunds - ProFund VP UltraNasdaq-100 (PROUN)** | **ProFunds - ProFund VP UltraNasdaq-100 (PROUN)** | **ProFunds - ProFund VP UltraNasdaq-100 (PROUN)** | **ProFunds - ProFund VP UltraNasdaq-100 (PROUN)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 1432 | 433.99 | 621282 | 0.42% | 41.41% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 1117 | 306.90 | 342719 | 0.00% | 115.46% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 2059 | 142.44 | 293323 | 0.00% | -60.93% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 499 | 364.57 | 182100 | 0.00% | 52.51% |  |
|  **ProFunds - ProFund VP UltraSmall-Cap (PROUSC)** | **ProFunds - ProFund VP UltraSmall-Cap (PROUSC)** | **ProFunds - ProFund VP UltraSmall-Cap (PROUSC)** | **ProFunds - ProFund VP UltraSmall-Cap (PROUSC)** | **ProFunds - ProFund VP UltraSmall-Cap (PROUSC)** | **ProFunds - ProFund VP UltraSmall-Cap (PROUSC)** | **ProFunds - ProFund VP UltraSmall-Cap (PROUSC)** | **ProFunds - ProFund VP UltraSmall-Cap (PROUSC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 8 | 55.44 | 468 | 0.00% | 23.30% |  |
|  **ProFunds - ProFund VP Utilities (PROUTL)** | **ProFunds - ProFund VP Utilities (PROUTL)** | **ProFunds - ProFund VP Utilities (PROUTL)** | **ProFunds - ProFund VP Utilities (PROUTL)** | **ProFunds - ProFund VP Utilities (PROUTL)** | **ProFunds - ProFund VP Utilities (PROUTL)** | **ProFunds - ProFund VP Utilities (PROUTL)** | **ProFunds - ProFund VP Utilities (PROUTL)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1222 | 30.09 | 36782 | 0.00% | -0.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 734 | 26.14 | 19184 | 1.55% | -2.40% |  |
|  **Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)** | **Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)** | **Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)** | **Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)** | **Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)** | **Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)** | **Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)** | **Putnam Variable Trust - Putnam VT Diversified Income Fund: Class IB (PVDIB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 1561 | 12.83 | 20020 | 8.02% | -2.35% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2686 | 13.14 | 35285 | 0.65% | -6.95% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2793 | 14.12 | 39429 | 7.98% | -0.90% |  |
|  **Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)** | **Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)** | **Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)** | **Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)** | **Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)** | **Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)** | **Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)** | **Putnam Variable Trust - Putnam VT Large Cap Value Fund: Class IB (PVEIB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 83343 | 53.57 | 4464377 | 0.62% | 19.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 28179 | 44.96 | 1266933 | 1.94% | 15.67% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 24551 | 38.87 | 954318 | 1.15% | -3.13% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 16587 | 40.13 | 665608 | 1.19% | 27.30% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 22043 | 31.52 | 694820 | 1.90% | 5.80% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)** | **Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)** | **Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)** | **Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)** | **Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)** | **Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)** | **Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)** | **Putnam Variable Trust - Putnam VT High Yield Fund: Class IB (PVHYB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 7045 | 19.86 | 139907 | 4.42% | 7.86% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 458 | 18.41 | 8425 | 0.66% | 12.13% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 462 | 16.42 | 7583 | 7.11% | -11.60% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 22260 | 18.57 | 413464 | 3.90% | 4.97% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 6032 | 17.69 | 106731 | 0.00% | 5.21% |  |
|  **Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)** | **Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)** | **Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)** | **Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)** | **Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)** | **Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)** | **Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)** | **Putnam Variable Trust - Putnam VT Income Fund: Class IB (PVIB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 490 | 14.02 | 6869 | 5.39% | 2.32% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 494 | 13.71 | 6775 | 5.69% | 4.69% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 499 | 13.09 | 6539 | 7.98% | -13.81% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 5689 | 15.19 | 86413 | 1.79% | -4.59% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 36216 | 15.92 | 576493 | 4.39% | 5.73% |  |
|  **Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)** | **Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)** | **Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)** | **Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)** | **Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)** | **Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)** | **Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)** | **Putnam Variable Trust - Putnam VT Sustainable Leaders Fund: Class IB (PVNOB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 105595 | 20.75 | 2190925 | 0.02% | 23.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4901 | 16.87 | 82666 | 0.63% | 26.11% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 8678 | 13.37 | 116060 | 0.26% | -22.91% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1515 | 17.35 | 26282 | 0.02% | 23.53% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 237 | 14.04 | 3328 | 0.00% | 40.44% | \*\*\*\* |
|  **Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)** | **Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)** | **Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)** | **Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)** | **Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)** | **Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)** | **Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)** | **Royce Capital Fund - Royce Micro-Cap Portfolio: Investment Class (ROCMC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4954 | 40.11 | 198714 | 0.00% | 13.67% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 6575 | 35.29 | 232025 | 0.00% | 18.78% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 4988 | 29.71 | 148198 | 0.00% | -22.43% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 4411 | 38.30 | 168935 | 0.00% | 29.98% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5109 | 29.47 | 150554 | 0.00% | 23.79% |  |
|  **Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)** | **Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)** | **Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)** | **Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)** | **Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)** | **Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)** | **Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)** | **Royce Capital Fund - Royce Small-Cap Portfolio: Investment Class (ROCSC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 5382 | 39.59 | 213049 | 1.25% | 3.40% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 6322 | 38.28 | 242038 | 0.89% | 25.93% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 6938 | 30.40 | 210912 | 0.35% | -9.20% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 11490 | 33.48 | 384691 | 1.69% | 28.82% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3827 | 25.99 | 99465 | 0.78% | -7.15% |  |
| **T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Blue Chip Growth Portfolio: II (TRBCG2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 61836 | 79.69 | 4927382 | 0.00% | 35.17% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 67379 | 58.95 | 3972087 | 0.00% | 48.96% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 55449 | 39.58 | 2194466 | 0.00% | -38.66% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 66970 | 64.52 | 4321090 | 0.00% | 17.33% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 66003 | 54.99 | 3629654 | 0.00% | 33.92% |  |
| **T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Equity Income Portfolio: II (TREI2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 15104 | 36.20 | 546737 | 1.67% | 11.38% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 13939 | 32.50 | 453004 | 1.89% | 9.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 18411 | 29.73 | 547376 | 1.67% | -3.59% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 13515 | 30.84 | 416749 | 1.56% | 25.22% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3814 | 24.63 | 93926 | 2.20% | 0.96% |  |
| **T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Health Sciences Portfolio: II (TRHS2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 15102 | 85.20 | 1286797 | 0.00% | 1.42% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 13899 | 84.01 | 1167684 | 0.00% | 2.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 16194 | 81.82 | 1324913 | 0.00% | -12.69% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 12850 | 93.70 | 1204147 | 0.00% | 12.83% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 11248 | 83.05 | 934142 | 0.00% | 29.27% |  |
| **T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)** | **T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)** | **T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)** | **T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)** | **T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)** | **T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)** | **T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)** | **T. Rowe Price Fixed Income Series, Inc. - T. Rowe Price Limited Term Bond Portfolio: II (TRLT2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 19428 | 14.03 | 272586 | 3.96% | 4.70% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 24333 | 13.40 | 326075 | 3.02% | 4.68% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 27194 | 12.80 | 348148 | 1.65% | -4.78% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 33643 | 13.45 | 452333 | 1.07% | -0.13% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 26787 | 13.46 | 360611 | 1.78% | 4.46% |  |
| **T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)** | **T. Rowe Price Equity Series, Inc. - T. Rowe Price Mid-Cap Growth Portfolio: II (TRMCG2)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 4710 | 12.27 | 57774 | 0.00% | 9.04% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 2013 | 11.25 | 22646 | 0.00% | 12.50% | \*\*\*\* |
|  **Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)** | **Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)** | **Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)** | **Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)** | **Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)** | **Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)** | **Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)** | **Third Avenue Variable Series Trust - Third Avenue Value Portfolio (TAVV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 10873 | 26.37 | 286771 | 2.92% | -2.27% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 7991 | 26.99 | 215648 | 1.04% | 20.81% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 7811 | 22.34 | 174477 | 0.67% | 16.11% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)** | **VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)** | **VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)** | **VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)** | **VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)** | **VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)** | **VanEck VIP Trust - VanEck VIP Global Gold Fund: Class S (VVGGS)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 6279 | 13.75 | 86304 | 3.01% | 14.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 6392 | 12.01 | 76787 | 0.00% | 10.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3446 | 10.88 | 37497 | 0.00% | -13.36% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 2751 | 12.56 | 34547 | 4.08% | -14.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 2107 | 14.60 | 30772 | 4.57% | 38.62% |
|  **VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Bond Fund: Initial Class (VWBF)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2337 | 17.21 | 40223 | 8.36% | 2.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 3088 | 16.74 | 51701 | 3.87% | 11.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 3111 | 15.03 | 46761 | 5.99% | -6.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 1314 | 16.15 | 21213 | 2.32% | -4.05% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 455 | 16.83 | 7658 | 6.05% | 8.92% |
|  **VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)** | **VanEck VIP Trust - VanEck VIP Emerging Markets Fund: Initial Class (VWEM)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 11055 | 28.84 | 318854 | 1.55% | 1.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 15707 | 28.50 | 447619 | 3.77% | 9.77% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 16387 | 25.96 | 425398 | 0.31% | -24.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 15309 | 34.33 | 525515 | 0.93% | -11.87% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 14944 | 38.95 | 582066 | 2.11% | 17.25% |
|  **VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)** | **VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)** | **VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)** | **VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)** | **VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)** | **VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)** | **VanEck VIP Trust - VanEck VIP Global Resources Fund: Initial Class (VWHA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 5838 | 24.46 | 142768 | 2.29% | -2.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 12257 | 25.17 | 308493 | 2.85% | -3.58% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 15380 | 26.10 | 401473 | 2.38% | 8.39% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 4126 | 24.08 | 99354 | 0.44% | 18.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 3830 | 20.25 | 77562 | 0.42% | 19.11% |
|  **Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)** | **Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)** | **Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)** | **Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)** | **Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)** | **Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)** | **Vanguard Variable Insurance Fund - Balanced Portfolio (VVB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 457121 | 23.89 | 10920208 | 2.05% | 14.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 369944 | 20.86 | 7717463 | 1.95% | 14.04% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 345072 | 18.29 | 6312293 | 1.87% | -14.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 284312 | 21.40 | 6083958 | 1.69% | 18.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 249204 | 18.02 | 4491866 | 2.50% | 10.40% |
|  **Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)** | **Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)** | **Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)** | **Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)** | **Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)** | **Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)** | **Vanguard Variable Insurance Fund - Conservative Allocation Portfolio (VVCA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 78367 | 12.89 | 1009834 | 2.71% | 7.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 76947 | 12.02 | 924759 | 1.93% | 12.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 49886 | 10.71 | 534211 | 3.63% | -15.11% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 93400 | 12.61 | 1178199 | 1.32% | 5.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 43888 | 11.93 | 523652 | 0.85% | 11.45% |
|  **Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)** | **Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)** | **Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)** | **Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)** | **Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)** | **Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)** | **Vanguard Variable Insurance Fund - Capital Growth Portfolio (VVCG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 59503 | 37.05 | 2204557 | 1.05% | 13.13% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 64238 | 32.75 | 2103828 | 1.13% | 27.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 76507 | 25.65 | 1962713 | 0.80% | -15.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 70742 | 30.43 | 2152683 | 0.65% | 21.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 65756 | 25.10 | 1650446 | 1.30% | 17.18% |
|  **Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)** | **Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)** | **Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)** | **Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)** | **Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)** | **Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)** | **Vanguard Variable Insurance Fund - Diversified Value Portfolio (VVDV)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 115225 | 27.22 | 3136465 | 1.58% | 14.60% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 87808 | 23.75 | 2085672 | 1.26% | 19.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 70512 | 19.82 | 1397730 | 1.19% | -11.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 76240 | 22.45 | 1711707 | 0.95% | 30.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 58697 | 17.25 | 1012630 | 1.31% | 11.50% |
|  **Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)** | **Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)** | **Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)** | **Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)** | **Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)** | **Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)** | **Vanguard Variable Insurance Fund - Equity Income Portfolio (VVEI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 267401 | 27.87 | 7451698 | 2.62% | 14.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 247033 | 24.27 | 5994917 | 2.52% | 7.83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 224610 | 22.51 | 5055016 | 2.39% | -0.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 160738 | 22.71 | 3650722 | 1.83% | 25.01% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 134596 | 18.17 | 2445307 | 2.66% | 2.99% |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |  |
|  **Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)** | **Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)** | **Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)** | **Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)** | **Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)** | **Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)** | **Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)** | **Vanguard Variable Insurance Fund - Equity Index Portfolio (VVEIX)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 401449 | 37.39 | 15010846 | 1.20% | 24.53% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 353816 | 30.03 | 10623943 | 1.36% | 25.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 346514 | 23.87 | 8270788 | 1.29% | -18.43% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 307749 | 29.26 | 9005529 | 1.10% | 28.23% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 249388 | 22.82 | 5691196 | 1.53% | 17.91% |  |
|  **Vanguard Variable Insurance Fund - Growth Portfolio (VVG)** | **Vanguard Variable Insurance Fund - Growth Portfolio (VVG)** | **Vanguard Variable Insurance Fund - Growth Portfolio (VVG)** | **Vanguard Variable Insurance Fund - Growth Portfolio (VVG)** | **Vanguard Variable Insurance Fund - Growth Portfolio (VVG)** | **Vanguard Variable Insurance Fund - Growth Portfolio (VVG)** | **Vanguard Variable Insurance Fund - Growth Portfolio (VVG)** | **Vanguard Variable Insurance Fund - Growth Portfolio (VVG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 173375 | 43.70 | 7576806 | 0.30% | 32.80% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 206012 | 32.91 | 6779363 | 0.23% | 39.79% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 181446 | 23.54 | 4271494 | 0.00% | -33.53% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 166863 | 35.42 | 5909865 | 0.03% | 17.57% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 99693 | 30.13 | 3003291 | 0.28% | 42.74% |  |
|  **Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)** | **Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)** | **Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)** | **Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)** | **Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)** | **Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)** | **Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)** | **Vanguard Variable Insurance Fund-Global Bond Index Portfolio (VVGBI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 188870 | 10.25 | 1936791 | 2.49% | 1.78% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 147098 | 10.08 | 1482083 | 1.96% | 6.25% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 156096 | 9.48 | 1480201 | 2.59% | -13.34% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 138123 | 10.94 | 1511457 | 0.37% | -2.09% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 18597 | 11.18 | 207839 | 1.46% | 6.40% |  |
|  **Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)** | **Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)** | **Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)** | **Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)** | **Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)** | **Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)** | **Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)** | **Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio (VVHGB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 1775973 | 11.65 | 20688731 | 2.63% | 0.99% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 1463258 | 11.54 | 16878880 | 2.36% | 5.31% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 1358711 | 10.95 | 14882009 | 2.09% | -13.43% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 1294131 | 12.65 | 16373605 | 1.77% | -1.96% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 883298 | 12.91 | 11399355 | 2.25% | 7.31% |  |
|  **Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)** | **Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)** | **Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)** | **Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)** | **Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)** | **Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)** | **Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)** | **Vanguard Variable Insurance Fund - High Yield Bond Portfolio (VVHYB)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 209622 | 15.81 | 3314900 | 5.34% | 6.18% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 220086 | 14.89 | 3277763 | 4.88% | 11.39% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 223316 | 13.37 | 2985838 | 5.06% | -9.59% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 191945 | 14.79 | 2838577 | 3.20% | 3.42% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 109880 | 14.30 | 1571229 | 5.64% | 5.41% |  |
|  **Vanguard Variable Insurance Fund - International Portfolio (VVI)** | **Vanguard Variable Insurance Fund - International Portfolio (VVI)** | **Vanguard Variable Insurance Fund - International Portfolio (VVI)** | **Vanguard Variable Insurance Fund - International Portfolio (VVI)** | **Vanguard Variable Insurance Fund - International Portfolio (VVI)** | **Vanguard Variable Insurance Fund - International Portfolio (VVI)** | **Vanguard Variable Insurance Fund - International Portfolio (VVI)** | **Vanguard Variable Insurance Fund - International Portfolio (VVI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 429803 | 20.62 | 8861168 | 1.21% | 8.74% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 454997 | 18.96 | 8626742 | 1.41% | 14.37% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 403186 | 16.58 | 6684052 | 1.31% | -30.30% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 336365 | 23.78 | 7999836 | 0.26% | -1.79% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 307941 | 24.22 | 7457143 | 1.13% | 57.19% |  |
|  **Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)** | **Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)** | **Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)** | **Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)** | **Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)** | **Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)** | **Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)** | **Vanguard Variable Insurance Fund - Moderate Allocation Portfolio (VVMA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 186768 | 14.31 | 2672856 | 2.25% | 10.05% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 178899 | 13.00 | 2326510 | 1.46% | 15.26% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 74783 | 11.28 | 843751 | 0.74% | -16.14% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 11630 | 13.45 | 156472 | 1.03% | 9.80% | \*\*\*\* |
|  **Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)** | **Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)** | **Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)** | **Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)** | **Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)** | **Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)** | **Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)** | **Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio (VVMCI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 396113 | 27.30 | 10813353 | 1.16% | 14.79% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 255301 | 23.78 | 6071585 | 1.45% | 15.54% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 269551 | 20.58 | 5548175 | 1.07% | -19.02% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 217243 | 25.42 | 5521982 | 0.90% | 24.05% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 125429 | 20.49 | 2570194 | 1.47% | 17.78% |  |
|  **Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)** | **Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)** | **Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)** | **Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)** | **Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)** | **Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)** | **Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)** | **Vanguard Variable Insurance Fund - Real Estate Index Portfolio (VVREI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 192192 | 20.52 | 3943141 | 2.60% | 4.48% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 134004 | 19.64 | 2631416 | 2.30% | 11.42% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 109611 | 17.62 | 1931797 | 1.94% | -26.48% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 100556 | 23.97 | 2410522 | 1.55% | 39.86% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 76388 | 17.14 | 1309328 | 2.47% | -5.09% |  |
|  **Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)** | **Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)** | **Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)** | **Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)** | **Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)** | **Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)** | **Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)** | **Vanguard Variable Insurance Fund - Small Company Growth Portfolio (VVSCG)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 38894 | 23.18 | 901554 | 0.49% | 11.10% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 29536 | 20.86 | 616227 | 0.41% | 19.35% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 30184 | 17.48 | 527655 | 0.28% | -25.54% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 32173 | 23.48 | 755313 | 0.37% | 13.93% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 32639 | 20.61 | 672563 | 0.62% | 22.88% |  |

---

------

**JEFFERSON NATIONAL LIFE OF NEW YORK ANNUITY ACCOUNT 1 NOTES TO FINANCIAL STATEMENTS** 

**DECEMBER 31, 2024** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Contract Expense<br>Rate\*** | **Units** | **Unit Fair Value** | **Contract Owners'<br>Equity** | **Investment<br>Income<br>Ratio\*\*** | **Total Return\*\*\*** |
|  **Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)** | **Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)** | **Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)** | **Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)** | **Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)** | **Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)** | **Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio (VVSTC)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 1075906 | 12.35 | 13289134 | 3.48% | 4.63% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 1035730 | 11.81 | 12226790 | 2.04% | 5.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 971905 | 11.15 | 10834816 | 1.56% | -5.96% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 886190 | 11.85 | 10505070 | 1.94% | -0.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 676311 | 11.94 | 8073782 | 2.30% | 5.23% |
|  **Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)** | **Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)** | **Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)** | **Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)** | **Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)** | **Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)** | **Vanguard Variable Insurance Fund-Total International Stock Market Index Portfolio (VVTISI)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 861866 | 13.08 | 11269668 | 2.33% | 4.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 549758 | 12.48 | 6859812 | 2.58% | 15.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 463364 | 10.83 | 5016546 | 3.27% | -16.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 394165 | 12.92 | 5093738 | 0.98% | 8.26% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 99497 | 11.94 | 1187708 | 1.26% | 10.90% |
|  **Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)** | **Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)** | **Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)** | **Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)** | **Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)** | **Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)** | **Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio (VVTSM)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.25% | 899191 | 35.15 | 31608916 | 0.98% | 23.40% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.25% | 696048 | 28.49 | 19827647 | 1.06% | 25.64% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.25% | 581608 | 22.67 | 13186947 | 1.36% | -19.79% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.25% | 575513 | 28.27 | 16268664 | 1.04% | 25.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.25% | 416367 | 22.56 | 9391600 | 1.37% | 20.25% |
|  **Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)** | **Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)** | **Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)** | **Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)** | **Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)** | **Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)** | **Virtus Variable Insurance Trust - Virtus SGA International Growth Series: Class A (VRVDIA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 2 | 15.02 | 32 | 0.29% | -5.59% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 4528 | 15.91 | 72022 | 0.11% | 18.00% |
|  **Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)** | **Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)** | **Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)** | **Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)** | **Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)** | **Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)** | **Virtus Variable Insurance Trust - Virtus Duff & Phelps Real Estate Securities Series: Class A (VRVDRA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 19772 | 30.01 | 593301 | 1.96% | 10.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 13334 | 27.05 | 360713 | 2.12% | 11.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 15233 | 24.37 | 371160 | 1.05% | -26.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 10962 | 32.97 | 361387 | 1.82% | 46.41% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 5113 | 22.52 | 115126 | 1.24% | -1.55% |
|  **Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)** | **Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)** | **Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)** | **Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)** | **Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)** | **Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)** | **Virtus Variable Insurance Trust - Virtus Newfleet Multi-Sector Intermediate Bond Series: Class A (VRVNMA)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 | 0.00% | 53262 | 16.71 | 890114 | 5.36% | 5.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2023 | 0.00% | 36672 | 15.78 | 578657 | 4.89% | 8.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2022 | 0.00% | 38943 | 14.52 | 565385 | 3.82% | -9.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2021 | 0.00% | 18819 | 16.05 | 301969 | 2.66% | 1.07% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020 | 0.00% | 31634 | 15.88 | 502207 | 4.14% | 6.53% |

---

\* This represents the annual contract expense rate or range of annual contract expense rates of the variable account at the period end indicated and includes only those expenses that are charged through a reduction in the unit values. Excluded are expenses of the underlying mutual funds and charges made directly to contract owner accounts through the redemption of units. 

\*\* This represents the ratio of dividends for the period indicated, excluding distributions of capital gains, received by the subaccount from the underlying mutual fund, net of management fees assessed by the fund manager, divided by monthly average net assets (excluding months where net assets are zero). The investment income ratio for subaccounts initially funded during the period presented has not been annualized. The ratios exclude those expenses that result in direct reductions to the contract owner accounts through reductions in unit values. The recognition of investment income by the subaccount is affected by the timing of the declaration of dividends by the underlying fund in which the subaccounts invest. 

\*\*\* This represents the total return or range of minimum and maximum total returns for the period indicated, including changes in the value of the underlying mutual fund, which reflects the reduction of unit values for expenses assessed. The total returns do not include any expenses assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. Total return is not annualized if the underlying mutual fund option was initially added and funded during the period presented. Minimum and maximum ranges are not shown for underlying mutual fund options for which a single contract expense rate (product option) exists. In such cases, the total return presented is representative of all units issued and outstanding at period end. 

\*\*\*\* Subaccounts denoted indicate the underlying mutual fund option was initially added and funded during the period presented.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**FOR THE YEAR ENDED DECEMBER 31, 2024** 

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | Page |
|  [Independent Auditors' Report](#nlic138721_1) | F-1 |
|  [Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus](#nlic138721_2) | F-4 |
|  [Statutory Statements of Operations](#nlic138721_3) | F-5 |
|  [Statutory Statements of Changes in Capital and Surplus](#nlic138721_4) | F-6 |
|  [Statutory Statements of Cash Flow](#nlic138721_5) | F-7 |
|  [Notes to Statutory Financial Statements](#nlic138721_6) | F-8 |
|  [Schedule I – Summary of Investments – Other Than Investments in Related Parties](#nlic138721_7) | F-47 |
|  [Schedule III – Supplementary Insurance Information](#nlic138721_8) | F-48 |
|  [Schedule IV – Reinsurance](#nlic138721_9) | F-49 |
|  [Schedule V – Valuation and Qualifying Accounts](#nlic138721_10) | F-50 |

---

------

![LOGO](g138721dsp0049.jpg)

**Independent Auditors' Report** 

Audit Committee of the Board of Directors

Nationwide Life Insurance Company:

*Opinions* 

We have audited the financial statements of Nationwide Life Insurance Company (the Company), which comprise the statutory statements of admitted assets, liabilities, capital and surplus as of December 31, 2024 and 2023, and the related statutory statements of operations, changes in capital and surplus, and cash flow for each of the years in the three-year period ended December 31, 2024, and the related notes to the statutory financial statements.

*Unmodified Opinion on Statutory Basis of Accounting* 

In our opinion, the accompanying financial statements present fairly, in all material respects, the admitted assets, liabilities, capital and surplus of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flow for each of the years in the three-year period ended December 31, 2024, in accordance with accounting practices prescribed or permitted by the Ohio Department of Insurance (Department) described in Note 2.

*Adverse Opinion on U.S. Generally Accepted Accounting Principles* 

In our opinion, because of the significance of the matter discussed in the Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles section of our report, the statutory financial statements do not present fairly, in accordance with U.S. generally accepted accounting principles, the financial position of the Company as of December 31, 2024 and 2023, or the results of its operations or its cash flows for each of the years in the three-year period ended December 31, 2024.

*Basis for Opinions* 

We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

*Basis for Adverse Opinion on U.S. Generally Accepted Accounting Principles* 

As described in Note 2 to the financial statements, the financial statements are prepared by the Company using accounting practices prescribed or permitted by the Department, which is a basis of accounting other than U.S. generally accepted accounting principles. Accordingly, the financial statements are not intended to be presented in accordance with U.S. generally accepted accounting principles. The effects on the financial statements of the variances between the statutory accounting practices described in Note 2 and U.S. generally accepted accounting principles, although not reasonably determinable, are presumed to be material and pervasive.

![LOGO](g138721dsp0049a.jpg)

------

![LOGO](g138721dsp0050.jpg)

*Emphasis of Matter* 

As discussed in Note 2 to the financial statements, the Company's subsidiary received permission from the Department in 2023 to account for an excess of loss reinsurance recoverable as an admitted asset. Under prescribed statutory accounting practices, the excess of loss reinsurance recoverable would not be an admitted asset. As of December 31, 2024 and 2023, the permitted accounting practice increased statutory surplus over what it would have been had that prescribed accounting practice been followed. Our opinions are not modified with respect to this matter.

*Responsibilities of Management for the Financial Statements* 

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting practices prescribed or permitted by the Department. Management is also responsible for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for one year after the date that the financial statements are issued.

*Auditors' Responsibilities for the Audit of the Financial Statements* 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with GAAS, we:

● Exercise professional judgment and maintain professional skepticism throughout the audit.

● Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or
error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

● Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.

● Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.

● Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.

------

![LOGO](g138721dsp0050.jpg)

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

*Supplementary Information* 

Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The supplementary information included in *Schedule I Summary of Investments - Other Than Investments in Related Parties, Schedule III Supplementary Insurance Information, Schedule IV Reinsurance,* and *Schedule V Valuation and Qualifying Accounts* is presented for purposes of additional analysis and is not a required part of the financial statements but is supplementary information required by the Securities and Exchange Commission's Regulation S-X. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audits of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with GAAS. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.

/s/ KPMG LLP

Columbus, Ohio

March 20, 2025

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Statutory Statements of Admitted Assets, Liabilities, Capital and Surplus

---

| | | |
|:---|:---|:---|
| | December 31, | December 31, |
| *(in millions, except share amounts)* | 2024 | 2023 |
|  **Admitted assets** |  |  |
|  **Invested assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bonds | $45798 | $43867 |
| &nbsp;&nbsp;&nbsp;&nbsp; Stocks | 3971 | 3714 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans, net of allowance | 9619 | 9144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Policy loans | 1038 | 969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Derivative assets | 194 | 113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents and short-term investments | 1687 | 1555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Securities lending collateral assets | 247 | 359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other invested assets | 2776 | 2198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total invested assets** | $65330 | $61919 |
|  Accrued investment income | 699 | 965 |
|  Deferred federal income tax assets, net | 660 | 632 |
|  Other assets | 580 | 404 |
|  Separate account assets | 122872 | 113270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total admitted assets** | $190141 | $177190 |
|  **Liabilities, capital and surplus** |  |  |
|  **Liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Future policy benefits and claims | $51793 | $49373 |
| &nbsp;&nbsp;&nbsp;&nbsp; Policyholders' dividend accumulation | 361 | 380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Asset valuation reserve | 950 | 841 |
| &nbsp;&nbsp;&nbsp;&nbsp; Payable for securities | 845 | 512 |
| &nbsp;&nbsp;&nbsp;&nbsp; Securities lending payable | 247 | 359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Funds held under coinsurance | 1199 | 1323 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 1018 | 1447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accrued transfers from separate accounts | (1685) | (1548) |
| &nbsp;&nbsp;&nbsp;&nbsp; Separate account liabilities | 122872 | 113270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities** | $177600 | $165957 |
|  **Capital and surplus** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital shares ($1 par value; authorized - 5,000,000 shares, issued and outstanding - 3,814,779 shares) | $4 | $4 |
| &nbsp;&nbsp;&nbsp;&nbsp; Surplus notes | 1100 | 1100 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special surplus funds | 116 | 93 |
| &nbsp;&nbsp;&nbsp;&nbsp; Additional paid-in capital | 2543 | 2443 |
| &nbsp;&nbsp;&nbsp;&nbsp; Unassigned surplus | 8778 | 7593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total capital and surplus** | $12541 | $11233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities, capital and surplus** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190141 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177190 |

---

*See accompanying notes to statutory financial statements.* 

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Statutory Statements of Operations

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31, | Years ended December 31, | Years ended December 31, |
| *(in millions)* | 2024 | 2023 | 2022 |
|  **Revenues** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Premiums and annuity considerations | $16402 | $14670 | $14535 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income | 3329 | 3136 | 2019 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other revenues | 2764 | 2389 | 2346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total revenues** | $22495 | $20195 | $18900 |
|  **Benefits and expenses** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Benefits to policyholders and beneficiaries | $&nbsp;&nbsp;&nbsp;&nbsp;20838 | $&nbsp;&nbsp;&nbsp;&nbsp;17416 | $&nbsp;&nbsp;&nbsp;&nbsp;15963 |
| &nbsp;&nbsp;&nbsp;&nbsp; Increase in reserves for future policy benefits and claims | 1967 | 3747 | 2525 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net transfers from separate accounts | (3469) | (3742) | (1635) |
| &nbsp;&nbsp;&nbsp;&nbsp; Commissions | 843 | 766 | 810 |
| &nbsp;&nbsp;&nbsp;&nbsp; Reserve adjustment on reinsurance assumed | (144) | (153) | (161) |
| &nbsp;&nbsp;&nbsp;&nbsp; Other expenses | 766 | 702 | 564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total benefits and expenses** | $20801 | $18736 | $18066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Income before federal income tax expense and net realized capital (losses) gains on investments** | $1694 | $1459 | $834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal income tax expense | 67 | 108 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Income before net realized capital (losses) gains on investments** | $1627 | $1351 | $734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized capital (losses) gains on investments, net of federal income tax expense (benefit) of $1, $(4) and $3 in 2024, 2023 and 2022, respectively, and excluding $(53), $(30) and $(103) of net realized capital losses transferred to the interest maintenance reserve in 2024, 2023 and 2022, respectively | (476) | (402) | 240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net income** | $1151 | $949 | $974 |

---

*See accompanying notes to statutory financial statements.* 

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Statutory Statements of Changes in Capital and Surplus

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *(in millions)* | Capital<br>shares | Surplus<br>notes | Special<br>surplus<br>funds | Additional<br>paid-in<br>capital | Unassigned<br>surplus | Capital and<br>surplus |
|  **Balance as of December 31, 2021** | $4 | $1100 | $- | $1998 | $5989 | $9091 |
|  Correction of error (see Note 2) | - | - | - | - | (39) | (39) |
|  **Balance as of January 1, 2022** | $4 | $1100 | $- | $1998 | $5950 | $9052 |
|  Net income |  |  |  |  | 974 | 974 |
|  Change in asset valuation reserve |  |  |  |  | (97) | (97) |
|  Change in deferred income taxes |  |  |  |  | 28 | 28 |
|  Change in net unrealized capital gains and losses, net of tax expense of $37 |  |  |  |  | (40) | (40) |
|  Change in nonadmitted assets |  |  |  |  | (33) | (33) |
|  Capital contributions from Nationwide |  |  |  |  |  |  |
|  Financial Services, Inc. |  |  |  | 310 |  | 310 |
|  Other, net | - | - | - | - | 1 | 1 |
|  **Balance as of December 31, 2022** | $4 | $1100 | $- | $2308 | $6783 | $10195 |
|  Net income |  |  |  |  | 949 | 949 |
|  Change in asset valuation reserve |  |  |  |  | (103) | (103) |
|  Change in deferred income taxes |  |  |  |  | 132 | 132 |
|  Change in net unrealized capital gains and losses, net of tax benefit of $37 |  |  |  |  | (77) | (77) |
|  Change in nonadmitted assets, including admitted disallowed interest maintenance reserve |  |  | 93 |  | (126) | (33) |
|  Capital contributions from Nationwide |  |  |  |  |  |  |
|  Financial Services, Inc. |  |  |  | 135 |  | 135 |
|  Other, net | - | - | - | - | 35 | 35 |
|  **Balance as of December 31, 2023** | $4 | $1100 | $93 | $2443 | $7593 | $11233 |
|  Net income |  |  |  |  | 1151 | 1151 |
|  Change in asset valuation reserve |  |  |  |  | (109) | (109) |
|  Change in deferred income taxes |  |  |  |  | 28 | 28 |
|  Change in net unrealized capital gains and losses, net of tax expense of $53 |  |  |  |  | 32 | 32 |
|  Change in nonadmitted assets |  |  |  |  | 66 | 66 |
|  Capital contributions from Nationwide |  |  |  |  |  |  |
|  Financial Services, Inc. |  |  |  | 100 |  | 100 |
|  Other, net | - | - | 23 | - | 17 | 40 |
|  **Balance as of December 31, 2024** | $4 | $1100 | $116 | $2543 | $8778 | $12541 |

---

*See accompanying notes to statutory financial statements.* 

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

(a wholly owned subsidiary of Nationwide Financial Services, Inc.)

Statutory Statements of Cash Flow

---

| | | | |
|:---|:---|:---|:---|
| | Years ended December 31, | Years ended December 31, | Years ended December 31, |
| *(in millions)* | 2024 | 2023 | 2022 |
|  **Cash flows from operating activities:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Premiums collected, net of reinsurance | $16395 | $14675 | $14545 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income | 3570 | 2775 | 2064 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other revenue | 2440 | 2021 | 3178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Policy benefits and claims paid | (20851) | (17567) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15962) |
| &nbsp;&nbsp;&nbsp;&nbsp; Commissions, operating expenses and taxes, other than federal income tax paid | (1455) | (1268) | (1275) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net transfers from separate accounts | 3332 | 3792 | 1658 |
| &nbsp;&nbsp;&nbsp;&nbsp; Policyholders' dividends paid | (28) | (28) | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp; Federal income taxes (paid) recovered | (93) | 98 | (261) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net cash provided by operating activities** | $3310 | $4498 | $3917 |
|  **Cash flows from investing activities:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Proceeds from investments sold, matured or repaid: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | $6588 | $2594 | $3444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks | 60 | 46 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | 754 | 635 | 1139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative assets |  |  | 431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets and other | 769 | 467 | 641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total investment proceeds** | $8171 | $3742 | $5674 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cost of investments acquired: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Bonds | $(8665) | $(6256) | $(6024) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stocks | (438) | (35) | (901) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans | (1206) | (1370) | (1305) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative assets | (302) | (556) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other invested assets and other | (862) | (766) | (1057) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total investments acquired** | $(11473) | $(8983) | $(9287) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net increase in policy loans | (69) | (37) | (19) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net cash used in investing activities** | $(3371) | $(5278) | $(3632) |
|  **Cash flows from financing activities and miscellaneous sources:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Capital contributions from Nationwide Financial Services, Inc. | $100 | $135 | $310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net change in deposits on deposit-type contract funds and other insurance liabilities | 499 | 270 | 391 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other cash (used) provided | (406) | 309 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net cash provided by financing activities and miscellaneous** | $193 | $714 | $700 |
|  **Net increase (decrease) in cash, cash equivalents and short-term investments** | $132 | $(66) | $985 |
|  **Cash, cash equivalents and short-term investments at beginning of year** | 1555 | 1621 | 636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Cash, cash equivalents and short-term investments at end of year** | $1687 | $1555 | $1621 |
|  **Supplemental disclosure of non-cash activities:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Exchange of bond investments | $386 | $385 | $349 |
| &nbsp;&nbsp;&nbsp;&nbsp; Intercompany transfer of securities from merger | $- | $203 | $- |

---

*See accompanying notes to statutory financial statements.* 

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

**(1)** **Nature of Operations** 

Nationwide Life Insurance Company ("NLIC" or "the Company") is an Ohio domiciled stock life insurance company. The Company is a member of the Nationwide group of companies ("Nationwide"), which is comprised of Nationwide Mutual Insurance Company ("NMIC") and all of its subsidiaries and affiliates.

All of the outstanding shares of NLIC's common stock are owned by Nationwide Financial Services, Inc. ("NFS"), a holding company formed by Nationwide Corporation, a wholly-owned subsidiary of NMIC.

The Company is a leading provider of long-term savings and retirement products in the United States of America ("U.S."). The Company develops and sells a wide range of products and services, which include fixed, variable and registered index-linked annuities, public and private sector group retirement plans including retirement guarantee products, life insurance, investment advisory services, pension risk transfer ("PRT") contracts and other investment products. The Company is licensed to conduct business in all fifty states, the District of Columbia, Guam, Puerto Rico and the U.S. Virgin Islands.

The Company sells its products through a diverse distribution network. Unaffiliated entities that sell, recommend or direct the purchase of the Company's products to their own customer bases include independent broker-dealers, financial institutions, wirehouses and regional firms, pension plan administrators, life insurance agencies, life insurance specialists and registered investment advisors. Affiliates that market products directly to a customer base include Nationwide Retirement Solutions, Inc., Nationwide Securities, LLC and Nationwide Financial General Agency, Inc. The Company believes its broad range of competitive products, strong distributor relationships and diverse distribution network position it to compete effectively under various economic conditions.

Wholly-owned subsidiaries of NLIC as of December 31, 2024 include Nationwide Life and Annuity Insurance Company ("NLAIC") and its wholly-owned subsidiaries, Olentangy Reinsurance, LLC ("Olentangy") and Nationwide SBL, LLC ("NWSBL"), Jefferson National Life Insurance Company ("JNL") and its wholly-owned subsidiary, Jefferson National Life Insurance Company of New York ("JNLNY"), Eagle Captive Reinsurance, LLC ("Eagle"), Nationwide Investment Services Corporation ("NISC") and Nationwide Investment Advisors, LLC ("NIA"). NLAIC primarily offers individual annuity contracts including fixed annuity contracts, group annuity contracts including PRT contracts, universal life insurance, variable universal life insurance, term life insurance and corporate-owned life insurance on a non-participating basis. Olentangy is a dormant Vermont domiciled special purpose financial insurance company and a nonadmitted subsidiary. NWSBL is an Ohio limited liability company that offers a securities-backed consumer lending product and is a nonadmitted subsidiary. JNL and JNLNY primarily offer individual deferred fixed and variable annuity products. Eagle is an Ohio domiciled special purpose financial captive insurance company. NISC is a registered broker-dealer. NIA is a registered investment advisor and a nonadmitted subsidiary.

The Company is subject to regulation by the insurance departments of states in which it is domiciled and/or transacts business and undergoes periodic examinations by those departments.

As of December 31, 2024 and 2023, the Company did not have a significant concentration of financial instruments in a single investee, industry or geographic region. Also, the Company did not have a concentration of business transactions with a particular customer, lender, distribution source, market or geographic region in which a single event could cause a severe impact to the Company's financial position after considering insurance risk that has been transferred to external reinsurers.

**(2)** **Summary of Significant Accounting Policies** 

***Use of Estimates***

The preparation of the statutory financial statements requires the Company to make estimates and assumptions that affect the amounts reported in the statutory financial statements and accompanying notes. Significant estimates include certain investment and derivative valuations and future policy benefits and claims. Actual results could differ significantly from those estimates.

***Basis of Presentation***

Effective October 1, 2023, Jefferson National Financial Corporation ("JNFC"), a holding company and wholly-owned subsidiary of the Company, completed a merger agreement with the Company. Pursuant to the merger agreement, which was deemed a statutory merger, the operations of JNFC were merged with and into the Company, with the Company continuing as the surviving corporation. Concurrently, JNL, a wholly-owned subsidiary of JNFC prior to the merger, became a wholly-owned subsidiary of the Company. There was not a material impact on the Company's surplus as a result of the merger.

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**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The statutory financial statements of the Company are presented on the basis of accounting practices prescribed or permitted by the Ohio Department of Insurance ("the Department"). Prescribed statutory accounting practices are those practices incorporated directly or by reference in state laws, regulations and general administrative rules applicable to all insurance enterprises domiciled in a particular state. Permitted statutory accounting practices include practices not prescribed by the domiciliary state but allowed by the domiciliary state regulatory authority.

NLIC and NLAIC have elected to apply a prescribed practice promulgated under Ohio Administrative Code Section 3901-1-67 ("OAC 3901-1-67") to its derivative instruments hedging indexed products and indexed annuity reserve liabilities in order to better align the measurement of indexed product reserves and the derivatives that hedge them. Under OAC 3901-1-67, derivative instruments are carried at amortized cost with the initial hedge cost amortized over the term and asset payoffs realized at the end of the term being reported through net investment income, rather than the derivative instruments being carried at fair value with asset payoffs realized over the term through net realized capital gains and losses. Additionally, the cash surrender value reserves for indexed annuity products only reflect index interest credits at the end of the crediting term as compared to partial index interest credits accumulating throughout the crediting term in increase in reserves for future policy benefits and claims.

Eagle applies one prescribed practice with multiple applications as provided under the State of Ohio's captive law, which values assumed guaranteed minimum death benefits ("GMDB") and guaranteed lifetime withdrawal benefits ("GLWB") risks on variable annuity contracts from NLIC and GLWB risks on fixed indexed annuity contracts from NLIC and NLAIC using an alternative reserving basis from the Statutory Accounting Principles detailed within the National Association of Insurance Commissioners ("NAIC") *Accounting Practices and Procedures* manual ("NAIC SAP") pursuant to Ohio Revised Code Chapter 3964 and approved by the Department.

Effective October 1, 2023, Eagle was granted a permitted practice from the Department, allowing Eagle to carry a reinsurance recoverable asset under an excess of loss reinsurance agreement with a third-party reinsurer as an admitted asset.

Prior to October 1, 2023, Olentangy was granted a permitted practice from the State of Vermont allowing Olentangy to carry the assets placed into a trust account by Union Hamilton Reinsurance Ltd. on its statutory statements of admitted assets, liabilities and surplus at net admitted asset value for certain universal life and term life insurance policies. Effective October 1, 2023, Olentangy terminated this permitted practice due to NLAIC's recapture of the reinsurance agreements.

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**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

If the prescribed or permitted practices were not applied, the Company's risk-based capital ("RBC") would continue to be above regulatory action levels. A reconciliation of the Company's net income between NAIC SAP and prescribed and permitted practices is shown below:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in millions)* | SSAP

# | State of<br> domicile | December 31, | December 31, | December 31, |
| *(in millions)* | SSAP

# | State of<br> domicile | 2024 | 2023 | 2022 |
|  **<u>Net Income</u>** |  |  |  |  |  |
|  Statutory Net Income |  | OH | $1151 | $949 | $974 |
|  State Prescribed Practice: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OAC 3901-1-67: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative instruments | 86 | OH | 270 | 110 | (43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserves for indexed annuities | 51 | OH | (308) | (75) | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax impact | 101 | OH | 8 | (7) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **NAIC SAP** |  |  | $1121 | $977 | $952 |

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A reconciliation of the Company's capital and surplus between NAIC SAP and prescribed and permitted practices is shown below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in millions)* | SSAP

# | State of<br> domicile | As of December 31, | As of December 31, |
| *(in millions)* | SSAP

# | State of<br> domicile | 2024 | 2023 |
|  **<u>Surplus</u>** |  |  |  |  |
|  Statutory Capital and Surplus |  | OH | $12541 | $11233 |
|  State Prescribed Practice: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; OAC 3901-1-67: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative instruments | 86 | OH | 350 | 84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reserves for indexed annuities | 51 | OH | (389) | (82) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax impact | 101 | OH | 8 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subsidiary Valuation - NLAIC | 5186101 | OH | 227 | 89 |
|  Subsidiary valuation - Eagle | 51 | OH | (529) | (228) |
|  State Permitted Practice: |  |  |  |  |
|  Subsidiary valuation - Eagle | 61R | OH | (861) | (853) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **NAIC SAP** |  |  | $11347 | $10243 |

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Statutory accounting practices vary in some respects from U.S. generally accepted accounting principles ("GAAP"), including the following practices:

***Financial Statements***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Statutory financial statements are prepared using language and groupings substantially the same as the annual
statements of the Company filed with the NAIC and state regulatory authorities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● assets must be included in the statutory statements of admitted assets, liabilities, capital and surplus at
net admitted asset value and nonadmitted assets are excluded through a charge to capital and surplus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● an asset valuation reserve ("AVR") is established in accordance with the NAIC Annual Statement
Instructions for Life and Accident and Health Insurance Companies and is reported as a liability, and changes in the AVR are reported directly in capital and surplus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● an interest maintenance reserve ("IMR") is established in accordance with the NAIC Annual Statement
Instructions for Life and Accident and Health Insurance Companies and is reported as a liability or other asset, and the amortization of the IMR is reported as revenue;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the expense allowance associated with statutory reserving practices for investment contracts held in the
separate accounts is reported in the general account as a negative liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● accounting for contingencies requires recording a liability at the midpoint of a range of estimated possible
outcomes when no better estimate in the range exists;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● surplus notes are accounted for as a component of capital and surplus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● costs related to successful policy acquisitions are charged to operations in the year incurred;

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**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● negative cash balances are reported as negative assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● certain income and expense items are charged or credited directly to capital and surplus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● amounts on deposit in internal qualified cash pools are reported as cash equivalents;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the statutory statements of cash flow are presented on the basis prescribed by the NAIC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the statutory financial statements do not include accumulated other comprehensive income.

***Future Policy Benefits and Claims***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Deposits to universal life contracts, investment contracts and limited payment contracts are included in
revenue; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● future policy benefit reserves are based on statutory requirements.

***Reinsurance Ceded***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Certain assets and liabilities are reported net of ceded reinsurance balances; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● provision is made for amounts receivable and outstanding for more than 90 days through a charge to capital and
surplus.

***Investments***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Investments in bonds are generally stated at amortized cost, except those with an NAIC designation of
"6", which are stated at the lower of amortized cost or fair value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● investments in preferred stocks are generally stated at amortized cost, except those with an NAIC designation
of "4" through "6", which are stated at the lower of amortized cost or fair value;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● other-than-temporary impairments on bonds, excluding loan-backed and structured securities, are measured based
on fair value and are not reversible;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● the proportional amortized cost method is utilized to determine the liquidation value of Low-Income Housing Tax Credit Funds ("Tax Credit Funds");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● admitted subsidiary, controlled and affiliated ("SCA") entities are not consolidated; rather, those
investments are generally carried at audited statutory capital and surplus or GAAP equity, as appropriate, and are recorded as an equity investment in stocks or other invested assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● equity in earnings of subsidiary companies is recognized directly in capital and surplus as net unrealized
capital gains or losses, while dividends from unconsolidated companies are recorded in operations as net investment income;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● undistributed earnings and valuation adjustments from investments in joint ventures, partnerships and limited
liability companies are recognized directly in capital and surplus as net unrealized capital gains or losses; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● gains on sales of investments between affiliated companies representing economic transactions are deferred at
the parent level until the related assets are paid down or an external sale occurs.

***Separate Accounts***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Assets and liabilities of guaranteed separate accounts are reported as separate account assets and separate
account liabilities, respectively.

***Derivative Instruments***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Derivatives used in effective hedging transactions are valued in a manner consistent with the hedged asset or
liability;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● with the exception of derivatives applying the prescribed practice under OAC 3901-1-67, unrealized gains and losses on derivatives that are not considered to be effective hedges are charged to capital and surplus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● interest earned on derivatives is charged to net investment income; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● embedded derivatives are not separated from the host contract and accounted for separately as a derivative
instrument.

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**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

***Goodwill***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Goodwill is limited to 10% of the prior reporting period's adjusted statutory surplus, with any goodwill
in excess of this limitation nonadmitted through a charge to surplus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● goodwill is amortized and charged to surplus.

***Federal Income Taxes***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Changes in deferred federal income taxes are recognized directly in capital and surplus with limitations on
the amount of deferred tax assets that can be reflected as an admitted asset (15% of capital and surplus); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● uncertain tax positions are subject to a "more likely than not" standard for federal and foreign
income tax loss contingencies only.

***Nonadmitted Assets***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● In addition to the nonadmitted assets described above, certain other assets are nonadmitted and charged
directly to capital and surplus. These include prepaid assets, certain software and other receivables outstanding for more than 90 days.

The financial information included herein is prepared and presented in accordance with SAP prescribed or permitted by the Department. Certain differences exist between SAP and GAAP, which are presumed to be material.

***Revenues and Benefits***

Life insurance premiums are recognized as revenue over the premium paying period of the related policies when due. Annuity considerations are recognized as revenue when received. Health insurance premiums are earned ratably over the terms of the related insurance and reinsurance contracts or policies. Policy benefits and claims that are expensed include interest credited to policy account balances, benefits and claims incurred in the period in excess of related policy reserves and other changes in future policy benefits.

***Future Policy Benefits and Claims***

Future policy benefits for traditional products are based on statutory mortality and interest requirements without consideration of withdrawals. The principal statutory mortality tables and interest assumptions used on policies in force are the 1958 Commissioner's Standard Ordinary ("CSO") table at interest rates of 2.5%, 3.0%, 3.5%, 4.0% and 4.5%, the 1941 CSO table at an interest rate of 2.5%, the 1980 CSO table at interest rates of 4.0%, 4.5%, 5.0% and 5.5%, the 2001 CSO table at an interest rate of 4.0% and 3.5% and the 2017 CSO table at an interest rate of 3.5% and 4.5%. The Company has applied principle-based reserving to all new individual life business. For business subject to principle-based reserving, additional reserves may be held where the deterministic and/or stochastic reserves are in excess of net premium reserves, as defined by Valuation Manual 20, Requirements for Principle-Based Reserves for Life Products ("VM-20").

Future policy benefits for universal life and variable universal life contracts have been calculated based on participants' contributions plus interest credited on any funds in the fixed account less applicable contract charges. These policies have been adjusted for possible future surrender charges in accordance with the Commissioner's Reserve Valuation Method ("CRVM"). For business subject to principle-based reserving, the Company has calculated reserves under VM-20.

Future policy benefits for annuity products have been established based on contract term, interest rates and various contract provisions. Individual deferred annuity contracts issued in 1990 and after have been adjusted for possible future surrender charges in accordance with the Commissioner's Annuity Reserve Valuation Method ("CARVM").

Future policy benefits for PRT contracts have been established in accordance with the CRVM. Statutory reserves for PRT business written during or after 2020 are calculated as the present value of future benefit payments, using the prescribed 1994 Group Annuity Mortality ("GAM") table along with the AA projection mortality improvement scale and prescribed valuation rates as specified in Chapter 22 of the Valuation Manual. For the PRT business written before 2020, the statutory reserves are calculated using prescribed GAM tables and valuation interest rates that vary by issue year, as specified in the Standard Valuation Law.

The Company calculated its reserves for variable annuities using a stochastic reserve or alternate methodology, which is floored at the cash surrender value, per Valuation Manual 21, Requirements for Principle-Based Reserves for Variable Annuities.

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**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The aggregate reserves for individual accident and health policies consist of active life reserves, disabled life reserves and unearned premium reserves. The active life reserves for disability income are reserved for on the net level basis, at a 3.0% interest rate, using either the 1964 Commissioner's Disability Table (for policies issued prior to 1982) or the 1985 Commissioner's Individual Disability Table A (for policies issued after 1981). The active life reserves for major medical insurance (both scheduled and unscheduled benefits) are based on the benefit ratio method for policies issued after 1981.

The active life reserves for accident and health policies are reserved for on the net level basis, at a 3.0% interest rate, using either the 1956 Inter-Company Hospital-Surgical tables, the 1974 Medical Expense tables or the 1959 Accidental Death Benefits table.

The disabled life reserves for accident and health policies are calculated using the 1985 Commissioner's Individual Disability Table A at a 3.0% interest rate. Unearned premium reserves are based on the actual gross premiums and actual days.

The aggregate reserves for group accident and health and franchise accident and health policies consist of disabled life reserves and unearned premium reserves. Reserves for benefits payable on disabled life claims are based on the 2012 Group Long-Term Disability Valuation Table, at varying interest rates of 2.75% - 6.0%, for group policies and the 1987 Commissioner's Group Disability Table, at varying interest rates of 2.75% - 10.25%, for franchise policies.

Future policy benefits and claims for group long-term disability policies are the present value (discounted between 2.75% and 6.00%) of amounts not yet due on reported claims and an estimate of amounts to be paid on incurred but unreported claims. Future policy benefits and claims on other group health policies are not discounted.

The Company issues fixed and floating rate funding agreements to the Federal Home Loan Bank of Cincinnati ("FHLB"). The liabilities for such funding agreements are treated as annuities under Ohio law for life insurance companies and recorded in future policy benefits and claims. Refer to Note 9 for additional details.

***Separate Accounts***

Separate account assets represent contractholders' funds that have been legally segregated into accounts with specific investment objectives. Separate account assets are primarily recorded at fair value, with the value of separate account liabilities set to equal the fair value of separate account assets. Separate account assets are primarily comprised of public, privately-registered and non-registered mutual funds, whose fair value is primarily based on the funds' net asset value. Other separate account assets are recorded at fair value based on the methodology that is applicable to the underlying assets. In limited circumstances, other separate account assets are recorded at book value when the policyholder does not participate in the underlying portfolio experience.

Separate account liabilities, in conjunction with accrued transfers from separate accounts, represent contractholders' funds adjusted for possible future surrender charges in accordance with the CARVM and the CRVM, respectively. The difference between full account value and CARVM/CRVM is reflected in accrued transfers to/from separate accounts, as prescribed by the NAIC, in the statutory statements of admitted assets, liabilities, capital and surplus. The annual change in the difference between full account value and CARVM/CRVM and its applicable federal income tax is reflected in the statutory statements of operations as part of the net transfers to/from separate accounts and federal income tax, respectively.

***Retained Assets***

The Company does not retain beneficiary assets. During a death benefit claim, the death benefit settlement method is payment to the beneficiary in the form of a check or electronic funds transfer.

***Investments***

***Bonds and stocks of unaffiliated companies***. Bonds are generally stated at amortized cost, except those with an NAIC designation of "6", which are stated at the lower of amortized cost or fair value. Preferred stocks are generally stated at amortized cost, except those with an NAIC designation of "4" through "6", which are stated at the lower of amortized cost or fair value. Common stocks are stated at fair value. Changes in the fair value of bonds and stocks stated at fair value are charged to capital and surplus.

Loan-backed and structured securities, which are included in bonds in the statutory financial statements, are stated in a manner consistent with the bond guidelines, but with additional consideration given to the special valuation rules implemented by the NAIC applicable to residential mortgage-backed securities that are not backed by U.S. government agencies, commercial mortgage-backed securities and certain other structured securities. Under these guidelines, an initial and adjusted NAIC designation is determined for each security. The initial NAIC designation, which takes into consideration the security's amortized cost relative to an NAIC-prescribed valuation matrix, is used to determine the reporting basis (i.e., amortized cost or lower of amortized cost or fair value).

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**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

Interest income is recognized when earned, while dividends are recognized when declared. The Company nonadmits investment income due and accrued when amounts are over 90 days past due.

For investments in loan-backed and structured securities, the Company recognizes income and amortizes discounts and premiums using the effective-yield method based on prepayment assumptions, generally obtained using a model provided by a third-party vendor, and the estimated economic life of the securities. When actual prepayments differ significantly from estimated prepayments, the effective-yield is recalculated to reflect actual payments to date and anticipated future payments. Any resulting adjustment is included in net investment income in the period the estimates are revised. All other investment income is recorded using the effective-yield method without anticipating the impact of prepayments.

Purchases and sales of bonds and stocks are recorded on the trade date, with the exception of private placement bonds, which are recorded on the funding date. Realized gains and losses are determined on a specific identification method on the trade date.

Independent pricing services are most often utilized to determine the fair value of bonds and stocks for which market quotations, quotations on comparable securities or models are used. These are compared to pricing from additional sources when available. Pricing may also be received directly from third-party managers who utilize various methodologies, primarily discounted cash flow models using market-based interest rates and spreads, adjusted for borrower-specific factors. For these bonds and stocks, the Company obtains the pricing services' and managers' methodologies and classifies the investments accordingly in the fair value hierarchy.

Corporate pricing matrices are used in valuing certain bonds. The corporate pricing matrices were developed using publicly and privately available spreads segmented by various weighted average lives and credit quality ratings. Certain private placement bonds have adjusted spreads to capture the impacts of liquidity premium based on industry sector. The weighted average life and credit quality rating of a particular bond to be priced using those matrices are important inputs into the model and are used to determine a corresponding spread that is added to the appropriate industry sector or U.S. Treasury yield to create an estimated market yield for that bond. The estimated market yield and other relevant factors are then used to estimate the fair value of the particular bond.

Non-binding broker quotes are also utilized to determine the fair value of certain bonds when deemed appropriate or when valuations are not available from independent pricing services or corporate pricing matrices. These bonds are classified with the lowest priority in the fair value hierarchy as only one broker quote is ordinarily obtained, the investment is not traded on an exchange, the pricing is not available to other entities and/or the transaction volume in the same or similar investments has decreased. Inputs used in the development of prices are not provided to the Company by the brokers, as the brokers often do not provide the necessary transparency into their quotes and methodologies. At least annually, the Company performs reviews and tests to ensure that quotes are a reasonable estimate of the investment's fair value. Price movements of broker quotes are subject to validation and require approval from the Company's management. Management uses its knowledge of the investment and current market conditions to determine if the price is indicative of the investment's fair value.

For all bonds, the Company considers its ability and intent to hold the security for a period of time sufficient to allow for the anticipated recovery in value, the expected recovery of principal and interest and the extent to which the fair value has been less than amortized cost. If the decline in fair value to below amortized cost is determined to be other-than-temporary, a realized loss is recorded equal to the difference between the amortized cost of the investment and its fair value.

The Company periodically reviews loan-backed and structured securities in an unrealized loss position by comparing the present value of cash flows, including estimated prepayments, expected to be collected from the security to the amortized cost basis of the security. If the present value of cash flows expected to be collected, discounted at the security's effective interest rate, is less than the amortized cost basis of the security, the impairment is considered other-than-temporary and a realized loss is recorded.

All other bonds in an unrealized loss position are periodically reviewed to determine if a decline in fair value to below amortized cost is other-than-temporary. Factors considered during this review include timing and amount of expected cash flows, ability of the issuer to meet its obligations, financial condition and future prospects of the issuer, amount and quality of any underlying collateral and current economic and industry conditions that may impact an issuer.

Stocks may experience other-than-temporary impairment based on the prospects for full recovery in value in a reasonable period of time and the Company's ability and intent to hold the stock to recovery. If a stock is determined to be other-than-temporarily impaired, a realized loss is recorded equal to the difference between the cost basis of the investment and its fair value.

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**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

***Investments in subsidiaries.*** The investment in the Company's wholly-owned insurance subsidiaries, NLAIC, JNL and Eagle, are carried using the equity method of accounting applicable to U.S. insurance SCA entities. This requires the investment to be recorded based on the value of its underlying audited statutory surplus. Furthermore, the equity method of accounting would be discontinued if the investment is reduced to zero, unless the Company has guaranteed obligations of the subsidiary or otherwise committed to provide further financial support. The Company's investment in NISC and NIA, wholly-owned non-insurance subsidiaries, are carried using the equity method of accounting applicable to U.S. non-insurance SCA entities. This requires the investment to be recorded based on its underlying audited GAAP equity. Investments in NLAIC, JNL and NISC are included in stocks, and the investment in Eagle is included in other invested assets on the statutory statements of admitted assets, liabilities, capital and surplus.

***Mortgage loans, net of allowance.*** The Company holds commercial mortgage loans that are collateralized by properties throughout the U.S. Mortgage loans are held at unpaid principal balance adjusted for premiums and discounts, less an allowance for credit losses. The Company also holds commercial mortgage loans of these property types that are under development. Mortgage loans under development are collateralized by first-priority liens on real estate, partnership equity interests and common stock.

As part of the underwriting process, specific guidelines are followed to ensure the initial quality of a new mortgage loan. Third-party appraisals are obtained to support loaned amounts as the loans are collateral dependent or guaranteed.

The collectability and value of a mortgage loan is based on the ability of the borrower to repay and/or the value of the underlying collateral. Many of the Company's mortgage loans are structured with balloon payment maturities, exposing the Company to risks associated with the borrowers' ability to make the balloon payment or refinance the property. Loans are considered delinquent when contractual payments are 90 days past due.

Mortgage loans require an allowance for credit losses when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. When management determines that a loan requires an allowance for credit losses, a provision for losses is established equal to the difference between the carrying value and the fair value of the collateral less costs to sell. Allowance for credit losses charges are recorded in net unrealized capital gains and losses. In the event an allowance for credit losses charge is reversed, the recovery is also recorded in net unrealized capital gains and losses. If the mortgage loan is determined to be other-than-temporarily impaired, a realized loss is recorded equal to the difference between the cost basis of the loan and the fair value of the collateral less estimated costs to obtain and sell. Any previously recorded allowance for credit losses is reversed.

Management evaluates the credit quality of individual mortgage loans and the portfolio as a whole through a number of loan quality measurements, including, but not limited to, loan-to-value ("LTV") and debt service coverage ("DSC") ratios. The LTV ratio is calculated as a ratio of the amortized cost of a loan to the estimated value of the underlying collateral. DSC is the amount of cash flow generated by the underlying collateral of the mortgage loan available to meet periodic interest and principal payments of the loan. These loan quality measurements contribute to management's assessment of relative credit risk in the mortgage loan portfolio. Based on underwriting criteria and ongoing assessment of the properties' performance, management believes the amounts, net of an allowance for credit losses, are collectible. This process identifies the risk profile and potential for loss individually and in the aggregate for the commercial mortgage loan portfolios. These factors are updated and evaluated at least annually. Due to the nature of the collateral underlying mortgage loans under development, these loans are not evaluated using the LTV and DSC ratios described above and instead are evaluated using other qualitative metrics.

Interest income on performing mortgage loans is recognized in net investment income over the life of the loan using the effective-yield method. Loans in default or in the process of foreclosure are placed on non-accrual status. Interest received on non-accrual status mortgage loans is included in net investment income in the period received. Loans are restored to accrual status when the principal and interest is current and it is determined the future principal and interest payments are probable or the loan is modified.

***Policy loans.*** Policy loans, which are collateralized by the related insurance policy, are held at the outstanding principal balance and do not exceed the net cash surrender value of the policy. As such, no valuation allowance for policy loans is required.

***Cash and cash equivalents.*** Cash and cash equivalents include highly liquid investments with original maturities of less than three months and amounts on deposit in internal qualified cash pools. The Company and various affiliates maintain agreements with Nationwide Cash Management Company ("NCMC"), an affiliate, under which NCMC acts as a common agent in handling the purchase and sale of short-term securities for the respective accounts of the participants in the internal qualified cash pool. ****

***Short-term investments.*** Short-term investments primarily consist of outstanding unsecured promissory notes with initial maturity dates of one-year or less with certain affiliates. The Company carries short-term investments at amortized cost, which approximates fair value.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

***Securities Lending*.** The Company has entered into securities lending agreements with a custodial bank whereby eligible securities are loaned to third parties, primarily major brokerage firms. These transactions are used to generate additional income in the securities portfolio. The Company is entitled to receive from the borrower any payments of interest and dividends received on loaned securities during the loan term. The agreements require a minimum of 102% of the fair value of the loaned securities to be held as collateral. Cash collateral is invested by the custodial bank in investment-grade securities, which are included in the total invested assets of the Company. Periodically, the Company may receive non-cash collateral, which would be recorded off-balance sheet. The Company recognizes loaned securities in bonds. A securities lending payable is recorded for the amount of cash collateral received. If the fair value of the collateral received (cash and/or securities) is less than the fair value of the securities loaned, the shortfall is nonadmitted. Net income received from securities lending activities is included in net investment income. Because the borrower or the Company may terminate a securities lending transaction at any time, if loans are terminated in advance of the reinvested collateral asset maturities, the Company would repay its securities lending obligations from operating cash flows or the proceeds of sales from its investment portfolio, which includes significant liquid securities.

***Other invested assets*.** Other invested assets consist primarily of alternative investments in private equity funds, private debt funds, tax credit funds, real estate partnerships, limited liability companies, joint ventures and the investment in Eagle. Except for investments in certain tax credit funds, these investments are recorded using the equity method of accounting. Changes in carrying value as a result of the equity method are reflected as net unrealized capital gains and losses as a direct adjustment to capital and surplus. Gains and losses are generally recognized through income at the time of disposal or when operating distributions are received. Partnership interests in tax credit funds are held at amortized cost with amortization charged to net investment income over the period in which the tax benefits, primarily credits, are earned. Tax credits are recorded as an offset to tax expense in the period utilized.

The Company sold $3.2 billion, $3.1 billion and $2.9 billion in Tax Credit Funds to unrelated third parties with outstanding guarantees as of December 31, 2024, 2023 and 2022, respectively. The Company guarantees after-tax benefits to the third-party investors through periods ending in 2042. These guarantees are in effect for periods of approximately 15 years each. The Tax Credit Funds provide a stream of tax benefits to the investors that will generate a yield and return of capital. If the tax benefits are not sufficient to provide these cumulative after-tax yields, the Company must fund any shortfall. The maximum amount of undiscounted future payments that the Company could be required to pay the investors under the terms of the guarantees is $2.4 billion as of December 31, 2024, but the Company does not anticipate making any material payments related to the guarantees. The Company's risks are mitigated in the following ways: (1) the Company has the right to buyout the equity related to the guarantee under certain circumstances, (2) the Company may replace underperforming properties to mitigate exposure to guarantee payments, (3) the Company oversees the asset management of the deals and (4) changes in tax laws are explicitly excluded from the Company's guarantees of after-tax benefits.

***Derivative Instruments***

The Company uses derivative instruments to manage exposures and mitigate risks primarily associated with interest rates, equity markets and foreign currency. These derivative instruments primarily include interest rate swaps, cross-currency swaps, total return swaps, futures and options.

Derivative instruments used in hedging transactions considered to be effective hedges are reported in a manner consistent with the hedged items. With the exception of derivatives applying the prescribed practice under OAC 3901-1-67, derivative instruments used in hedging transactions that do not meet or no longer meet the criteria of an effective hedge are accounted for at fair value with changes in fair value recorded in capital and surplus as unrealized gains or losses.

The fair value of derivative instruments is determined using various valuation techniques relying predominantly on observable market inputs and internal models. These inputs include interest rate swap curves, credit spreads, interest rates, counterparty credit risk, equity volatility and equity index levels.

The Company's derivative transaction counterparties are generally financial institutions. To reduce the credit risk associated with open contracts, the Company enters into master netting agreements which permit the closeout and netting of transactions with the same counterparty upon the occurrence of certain events. In addition, the Company attempts to reduce credit risk by obtaining collateral from counterparties. The determination of the need for and the levels of collateral vary based on an assessment of the credit risk of the counterparty. The Company accepts collateral in the forms of cash and marketable securities. Non-cash collateral received is recorded off-balance sheet.

Cash flows and payment accruals on derivatives are recorded in net investment income in the statutory statements of operations and cash flow. Cash flows associated with the acquisition, maturity, and termination of derivative instruments are recorded as investing activities in derivative assets in the statutory statements of cash flow.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

***Fair Value Measurements***

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources while unobservable inputs reflect the Company's view of market assumptions in the absence of observable market information. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs. In determining fair value, the Company uses various methods, including market, income and cost approaches.

The Company categorizes its financial instruments into a three-level hierarchy based on the priority of the inputs to the valuation technique. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair value fall within different levels of the hierarchy, the category level is based on the lowest priority level input that is significant to the fair value measurement of the instrument in its entirety.

The Company categorizes assets and liabilities held at fair value in the statutory statements of admitted assets, liabilities, capital and surplus as follows:

***Level 1*.** Unadjusted quoted prices accessible in active markets for identical assets or liabilities at the measurement date and mutual funds where the value per share (unit) is determined and published daily and is the basis for current transactions.

***Level 2.*** Unadjusted quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active or inputs (other than quoted prices) that are observable or that are derived principally from or corroborated by observable market data through correlation or other means. Primary inputs to this valuation technique may include comparative trades, bid/asks, interest rate movements, U.S. Treasury rates, Secured Overnight Financing Rate ("SOFR"), prime rates, cash flows, maturity dates, call ability, estimated prepayments and/or underlying collateral values.

***Level 3*.** Prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management's best estimates of the assumptions market participants would use at the measurement date in pricing the asset or liability. Consideration is given to the risk inherent in both the method of valuation and the valuation inputs. Primary inputs to this valuation technique include broker quotes and comparative trades.

The Company reviews its fair value hierarchy classifications for assets and liabilities quarterly. Changes in the observability of significant valuation inputs identified during these reviews may trigger reclassifications. Reclassifications are reported as transfers at the beginning of the reporting period in which the change occurs.

***Asset Valuation Reserve***

The Company maintains an AVR as prescribed by the NAIC for the purpose of offsetting potential credit related investment losses on each invested asset category, excluding cash, policy loans and income receivable. The AVR contains a separate component for each category of invested assets. The change in AVR is charged or credited directly to capital and surplus.

***Interest Maintenance Reserve***

The Company records an IMR as prescribed by the NAIC, which represents the net deferral for interest-related gains or losses arising from the sale of certain investments, such as bonds, mortgage loans and loan-backed and structured securities sold. The IMR is applied as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• for bonds, the designation from the NAIC Capital Markets and Investments Analysis Office must not have changed
more than one designation between the beginning of the holding period and the date of sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the bond must never have been classified as a default security;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• for mortgage loans, during the prior two years, they must not have had interest more than 90 days past due,
been in the process of foreclosure or in the course of voluntary conveyance, nor had restructured terms; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• for loan-backed and structured securities, all interest-related other-than-temporary impairments and interest-
related realized gains or losses on sales of the securities.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The realized gains or losses, net of related federal income tax, from the applicable bonds and mortgage loans sold, have been removed from the net realized gain or loss amounts and established as the IMR. The IMR is amortized into income such that the amount of each capital gain or loss amortized in a given year is based on the excess of the amount of income which would have been reported that year, if the asset had not been disposed of over the amount of income which would have been reported had the asset been repurchased at its sale price. In the event the unamortized IMR liability balance is negative, the balance is reclassified to an asset and evaluated for admittance under INT 23-01, Net Negative (Disallowed) Interest Maintenance Reserve ("INT 23-01"). The Company utilizes the grouped method for amortization. Under the grouped method, the IMR is amortized into income over the remaining period to expected maturity based on the groupings of the individual securities into five-year bands. Refer to Recently Adopted Accounting Standards for additional discussion of IMR.

***Goodwill***

For companies whose operations are primarily insurance related, goodwill is the excess of the cost to acquire a company over the Company's share of the statutory book value of the acquired entity. Goodwill is recorded in stocks in the statutory statements of admitted assets, liabilities and surplus. Goodwill is amortized on a straight-line basis over the period of economic benefit, not to exceed ten years, with a corresponding charge to surplus. Goodwill was immaterial as of December 31, 2024 and 2023.

***Federal Income Taxes***

The Company utilizes the asset and liability method of accounting for income taxes. Under this method, deferred tax assets, net of any nonadmitted portion and statutory valuation allowance, and deferred tax liabilities, are recognized for the expected future tax consequences attributable to differences between the statutory financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income or loss in the years in which those temporary differences are expected to be recovered or settled. The change in deferred taxes is recognized directly in surplus, with the impact of taxes on unrealized capital gains or losses and nonadmitted assets reported separately in the statutory statements of changes in capital and surplus.

The Company provides for federal income taxes based on amounts the Company believes it ultimately will owe. Inherent in the provision for federal income taxes are estimates regarding the deductibility of certain items and the realization of certain tax credits. In the event the ultimate deductibility of certain items or the realization of certain tax credits differs from estimates, the Company may be required to change the provision for federal income taxes recorded in the statutory financial statements, which could be significant.

Tax reserves are reviewed regularly and are adjusted as events occur that the Company believes impact its liability for additional taxes, such as lapsing of applicable statutes of limitations, conclusion of tax audits or substantial agreement with taxing authorities on the deductibility/nondeductibility of uncertain items, additional exposure based on current calculations, identification of new issues, release of administrative guidance or rendering of a court decision affecting a particular tax issue. The Company believes its tax reserves reasonably provide for potential assessments that may result from Internal Revenue Service ("IRS") examinations and other tax-related matters for all open tax years.

The Company is included in the NMIC consolidated federal income tax return.

***Reinsurance Ceded***

The Company cedes insurance to other companies in order to limit potential losses and to diversify its exposures. Such agreements do not relieve the Company of its primary obligation to the policyholder in the event the reinsurer is unable to meet the obligations it has assumed. Reinsurance premiums ceded and reinsurance recoveries on benefits and claims incurred are deducted from the respective income and expense accounts. Assets and liabilities related to reinsurance ceded are reported in the statutory statements of admitted assets, liabilities, capital and surplus on a net basis within the related future policy benefits and claims of the Company.

***Participating Business***

Participating business, which refers to policies that participate in profits through policyholder dividends, represented approximately 3% of the Company's life insurance in force in 2024 and 2023, and 47% and 48% of the number of life insurance policies in force in 2024 and 2023, respectively. The provision for policyholder dividends was based on the respective year's dividend scales, as approved by the Board of Directors. Policyholder dividends are recognized when declared. No additional income was allocated to participating policyholders during 2024 and 2023.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

***Correction of Error***

During 2022, the Company identified and corrected an error in annuity product allocation drivers for general operating expenses between the Company and NLAIC that resulted in an understatement of the Company's general insurance expenses for the years ended December 31, 2021, 2020 and 2019. In accordance with SSAP No. 3, Accounting Changes and Corrections of Errors ("SSAP No. 3"), the total prior period correction was recorded as a decrease to total surplus of $45 million, a decrease to total assets of $13 million and an increase to total liabilities of $32 million as of January 1, 2022. Additionally, the Company's subsidiary, NLAIC, identified and corrected errors as of January 1, 2022 that increased the Company's investment in NLAIC and total surplus by $6 million. The net decrease to the Company's total surplus of $39 million in 2022 as a result of these corrections is reported as a negative adjustment to unassigned surplus.

***Recently Adopted Accounting Standards***

Effective December 31, 2023, the Company adopted INT 23-04, Life Reinsurance Liquidation Questions, that addresses accounting and reporting questions about a recent life reinsurer liquidation. On July 18, 2023, Scottish Re U.S. ("SRUS") was declared insolvent and ordered liquidated by the Court of Chancery of the State of Delaware, resulting in termination of the reinsurance agreements between the Company and SRUS on September 30, 2023, and recapture of the ceded liabilities. The Company has accrued adequate provisions as of December 31, 2023, in accordance with SSAP No. 5R, Liabilities, Contingencies and Impairments of Assets, related to SRUS reinsurance recoverables. During 2024, the Company received a final payment from the assets previously held in a trust by SRUS that secured annuity reinsurance recoverables of $19 million in full satisfaction of the outstanding annuity reinsurance recoverables from SRUS.

Effective September 30, 2023, the Company adopted INT 23-01, a short-term solution related to the accounting treatment of an insurer's negative IMR balance. INT 23-01 allows an insurer with an authorized control level RBC greater than 300%, after an adjustment to total adjusted capital, to admit negative IMR up to 10% of its general account capital and surplus, subject to certain restrictions and reporting obligations. There is no admitted disallowed IMR in the separate accounts. Fixed income investments generating IMR losses comply with the Company's investment policies. There are no deviations from the investment policies and sales were not compelled by liquidity pressures. The Company has not allocated gains or losses to IMR from derivatives that were reported at fair value prior to the termination of the derivative. As of December 31, 2024 and 2023, the Company has $116 million and $93 million, respectively, of admitted disallowed IMR in capital and surplus in the general account.

***Subsequent Events***

The Company evaluated subsequent events through March 20, 2025, the date the statutory financial statements were issued.

On January 30, 2025, the Company entered into a definitive Purchase Agreement to acquire the employer stop loss business of The Allstate Corporation, which comprises Direct General Life Insurance Company, NSM Sales Corporation and The Association Benefits Solution, LLC, for $1.25 billion. The transaction is subject to regulatory approvals and other customary closing conditions.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

**(3)** **Analysis of Actuarial Reserves and Deposit Liabilities by Withdrawal Characteristics** 

The following table summarizes the analysis of individual annuity actuarial reserves by withdrawal characteristics, as of the dates indicated:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in millions)* | General<br>account<sup>1</sup> | Separate<br>account with<br>guarantees | Separate<br>account non-<br>guaranteed | Total | % of<br>Total |
|  December 31, 2024 |  |  |  |  |  |
|  Subject to discretionary withdrawal: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $7075 | $41 | $- | $7116 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp; At book value less current surrender charge of 5% or more | 2849 |  |  | 2849 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp; At fair value | - | - | 64460 | 64460 | 80% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total with market value adjustment or at fair value**  | $9924 | $41 | $64460 | $74425 | 92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge or adjustment) | 3446 |  | 5 | 3451 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 2867 | - | 56 | 2923 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, gross** | $16237 | $41 | $64521 | $80799 | 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Reinsurance ceded | (88) | - | - | (88) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, net** | $16149 | $41 | $64521 | $80711 |  |
| Amount included in 'Subject to discretionary withdrawal at book value less current surrender charge of 5% or more' that will move to 'Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment)' | $65 | $- | $- | $65 |  |
|  December 31, 2023 |  |  |  |  |  |
|  Subject to discretionary withdrawal: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $4389 | $64 | $- | $4453 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp; At book value less current surrender<br>charge of 5% or more | 2210 |  |  | 2210 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp; At fair value | 10 | - | 61993 | 62003 | 83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total with market value adjustment or at fair value $** | 6609 | $64 | $61993 | $68666 | 92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge or adjustment) | 3532 |  | 6 | 3538 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 2342 | - | 62 | 2404 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, gross** | $12483 | $64 | $62061 | $74608 | 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Reinsurance ceded | (98) | - | - | (98) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, net** | $12385 | $64 | $62061 | $74510 |  |
| Amount included in 'Subject to discretionary withdrawal at book value less current surrender charge of 5% or more' that will move to 'Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment)' | $78 | $- | $- | $78 |  |

---

<sup>1</sup> Includes reserves applying the prescribed practice under OAC 3901-1-67, as disclosed in Note 2.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table summarizes the analysis of group annuity actuarial reserves by withdrawal characteristics, as of the dates indicated:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in millions)* | General<br>account<sup>1</sup> | Separate<br>account with<br>guarantees | Separate<br>account non-<br>guaranteed | Total | % of<br>Total |
|  December 31, 2024 |  |  |  |  |  |
|  Subject to discretionary withdrawal: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $16049 | $1696 | $- | $17745 | 42% |
| &nbsp;&nbsp;&nbsp;&nbsp; At book value less current surrender charge of 5% or more |  |  |  |  | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp; At fair value | - | - | 19048 | 19048 | 46% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total with market value adjustment or at fair value**  | $16049 | $1696 | $19048 | $36793 | 88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge or adjustment) | 3558 |  |  | 3558 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 1175 | 478 | 2 | 1655 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, gross** | $20782 | $2174 | $19050 | $42006 | 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Reinsurance ceded | (26) | - | - | (26) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, net** | $20756 | $2174 | $19050 | $41980 |  |
| Amount included in 'Subject to discretionary withdrawal at book value less current surrender charge of 5% or more' that will move to 'Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment)' | $- | $- | $- | $- |  |
|  December 31, 2023 |  |  |  |  |  |
|  Subject to discretionary withdrawal: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $17300 | $1857 | $- | $19157 | 45% |
| &nbsp;&nbsp;&nbsp;&nbsp; At book value less current surrender<br>charge of 5% or more | 2 |  |  | 2 | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp; At fair value | - | - | 17922 | 17922 | 43% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total with market value adjustment or at fair value**  | $17302 | $1857 | $17922 | $37081 | 88% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal<br>or no charge or adjustment) | 3867 |  |  | 3867 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 1237 | 102 | - | 1339 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total, gross | $22406 | $1959 | $17922 | $42287 | 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Reinsurance ceded | (29) |  |  | (29) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total, net | $22377 | $1959 | $17922 | $42258 |  |
| Amount included in 'Subject to discretionary withdrawal at book value less current surrender charge of 5% or more' that will move to 'Subject to discretionary withdrawal at book value without adjustment (minimal or no charge or adjustment)' | $2 | $- | $- | $2 |  |

---

<sup>1</sup> Includes reserves applying the prescribed practice under OAC 3901-1-67, as disclosed in Note 2.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table summarizes the analysis of deposit-type contracts and other liabilities without life or disability contingencies by withdrawal characteristics, as of the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in millions)* | General<br>account | Separate<br>account non-<br>guaranteed | Total | % of<br>Total |
|  December 31, 2024 |  |  |  |  |
|  Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $1 | $- | $1 | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp; At fair value | 10 | - | 10 | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total with market value adjustment or at fair value** | $11 | $- | $11 | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge or adjustment) | 835 | 2 | 837 | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 4113 | 18 | 4131 | 83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, gross** | $4959 | $20 | $4979 | 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Reinsurance ceded | - | - | - |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, net** | $4959 | $20 | $4979 |  |
| December 31, 2023 |  |  |  |  |
| Subject to discretionary withdrawal: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; With market value adjustment | $1 | $- | $1 | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp; At fair value | - | - | - | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total with market value adjustment or at fair value** | $1 | $- | $1 | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At book value without adjustment (minimal or no charge or adjustment) | 781 | 2 | 783 | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 3677 | 17 | 3694 | 83% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, gross** | $4459 | $19 | $4478 | 100% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Reinsurance ceded | - | - | - |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, net** | $4459 | $19 | $4478 |  |

---

The following table is a reconciliation of total annuity actuarial reserves and deposit fund liabilities, as of the dates indicated:

---

| | | |
|:---|:---|:---|
| | December 31, | December 31, |
| <br>*(in millions)* | 2024 | 2023 |
|  Life, accident and health annual statement: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Annuities, net (excluding supplemental contracts with life contingencies) | $36892 | $34748 |
| &nbsp;&nbsp;&nbsp;&nbsp; Supplemental contracts with life contingencies, net | 13 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp; Deposit-type contracts | 4959 | 4459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $41864 | $39221 |
|  Separate accounts annual statement: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Annuities, net (excluding supplemental contracts with life contingencies) | $85786 | $82006 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other contract deposit funds | 20 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $85806 | $82025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total annuity actuarial reserves and deposit fund liabilities, net** | $127670 | $121246 |

---

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table summarizes the analysis of life insurance actuarial reserves by withdrawal characteristics, as of the dates indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | General account | General account | General account | Separate account - nonguaranteed | Separate account - nonguaranteed | Separate account - nonguaranteed |
| *(in millions)* | Account<br> value | Cash<br> value | Reserve | Account<br> value | Cash<br> value | Reserve |
|  December 31, 2024 |  |  |  |  |  |  |
|  Subject to discretionary withdrawal, surrender values or policy loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term policies with cash value | $- | $50 | $50 | $- | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal life | 2560 | 2568 | 2729 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal life with secondary guarantees | 486 | 430 | 1154 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Indexed universal life with secondary guarantees | 408 | 327 | 438 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other permanent cash value life insurance |  | 1838 | 2305 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Variable life | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $6579 | $8379 | $9971 | $35196 | $35192 | $35277 |
|  Not subject to discretionary withdrawal or no cash value: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term policies without cash value |  |  | 127 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accidental death benefits |  |  | 1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Disability - active lives |  |  | 18 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Disability - disabled lives |  |  | 60 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves | - | - | 32 | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, gross** | $6579 | $8379 | $10209 | $35196 | $35192 | $35277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Reinsurance ceded | (8) | (8) | (138) | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, net** | $6571 | $8371 | $10071 | $35196 | $35192 | $35277 |

---

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | General account | General account | General account | Separate account - nonguaranteed | Separate account - nonguaranteed | Separate account - nonguaranteed |
| *(in millions)* | Account<br> value | Cash<br> value | Reserve | Account<br> value | Cash<br> value | Reserve |
|  December 31, 2023 |  |  |  |  |  |  |
|  Subject to discretionary withdrawal, surrender values or policy loans: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term policies with cash value | $- | $10 | $10 | $- | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal life | 2616 | 2629 | 2790 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Universal life with secondary guarantees | 453 | 390 | 1032 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Indexed universal life with secondary guarantees | 341 | 265 | 367 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Other permanent cash value life insurance |  | 1919 | 2398 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Variable life | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $6845 | $8696 | $10200 | $29611 | $29607 | $29607 |
|  Not subject to discretionary withdrawal or no cash value: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Term policies without cash value |  |  | 181 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Accidental death benefits |  |  | 1 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Disability - active lives |  |  | 17 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Disability - disabled lives |  |  | 59 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves | - | - | 32 | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, gross** | $6845 | $8696 | $10490 | $29611 | $29607 | $29607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Reinsurance ceded | (8) | (8) | (151) | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total, net** | $6837 | $8688 | $10339 | $29611 | $29607 | $29607 |

---

The following table is a reconciliation of life insurance actuarial reserves, as of the dates indicated:

---

| | | |
|:---|:---|:---|
| | December 31, | December 31, |
| <br>*(in millions)* | 2024 | 2023 |
|  Life, accident and health annual statement: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Insurance, net | $9971 | $10241 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accidental death benefits, net | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Disability - active lives, net | 18 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp; Disability - disabled lives, net | 54 | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp; Miscellaneous reserves, net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $10071 | $10339 |
|  Separate accounts annual statement: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Life insurance<sup>1</sup>  | $35585 | $29909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $35585 | $29909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total life insurance actuarial reserves, net** | $45656 | $40248 |

---

<sup>1</sup> Life insurance account value, cash value and reserve include separate accounts with guarantees of $308 million and $302 million for universal life as of December 31, 2024 and 2023, respectively. 

The total direct premium written by managing general agents and third-party administrators was $528 million, $451 million and $415 million as of December 31, 2024, 2023 and 2022, respectively.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

**(4)** **Separate Accounts** 

The Company's separate account statement includes assets legally insulated from the general account as of the dates indicated, attributed to the following product lines:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | December 31, 2024 | December 31, 2024 | December 31, 2023 | December 31, 2023 |
| *(in millions)* | Separate<br> account<br>assets<br> legally<br> insulated | Separate<br>account<br>assets<br>(not legally<br>insulated) | Separate<br> account<br>assets<br> legally<br> insulated | Separate<br>account<br>assets<br>(not legally<br>insulated) |
|  Product / Transaction: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Individual annuities | $70404 | $- | $67634 | $- |
| &nbsp;&nbsp;&nbsp;&nbsp; Group annuities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16203 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15453 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Life insurance | 35783 |  | 30082 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Pension risk transfer group annuities | 482 | - | 101 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** | $122872 | $- | $113270 | $- |

---

The following table summarizes amounts paid towards separate account guarantees by the general account and related risk charges paid by the separate account for the years ended:

---

| | | |
|:---|:---|:---|
| *(in millions)* | Total paid toward<br>separate account<br>guarantees | Risk charges<br>paid to<br> general account |
| 2024 | $25 | $741 |
| 2023 | $78 | $780 |
| 2022 | $79 | $722 |
| 2021 | $12 | $674 |
| 2020 | $26 | $631 |

---

The Company does not engage in securities lending transactions within its separate accounts.

Most separate accounts held by the Company relate to individual and group variable annuity and variable universal life insurance contracts of a non-guaranteed return nature. The net investment experience of the separate accounts is credited directly to the contract holder and can be positive or negative. The individual variable annuity contracts generally provide an incidental death benefit of the greater of account value or premium paid (net of prior withdrawals). However, many individual variable annuity contracts also provide death benefits equal to (i) the most recent fifth-year anniversary account value, (ii) the highest account value on any previous anniversary, (iii) premiums paid increased 5% or certain combinations of these, all adjusted for prior withdrawals. The death benefit and cash value under the variable universal life policies may vary with the investment performance of the underlying investments in the separate accounts. The assets and liabilities of these separate accounts are carried at fair value and are non-guaranteed.

Certain other separate accounts offered by the Company contain groups of variable universal life policies wherein the assets supporting account values on the underlying policies reside in private placement separate accounts. They provide a quarterly interest rate based on a crediting formula that reflects the market value to book value ratio of the investments, investment portfolio yield and a specified duration.

Certain other separate accounts relate to a guaranteed term option, which provides a guaranteed interest rate that is paid over certain maturity durations ranging from three to ten years, so long as certain conditions are met. If amounts allocated to the guaranteed term option are distributed prior to the maturity period, a market value adjustment can be assessed. The assets and liabilities of these separate accounts are carried at fair value.

The Company has a separate account that holds group annuity contracts offered through the Company's PRT business, wherein the Company provides guaranteed benefit payments to annuitants. The Company issues PRT business out of both the general and separate accounts, and within both, the assets and liabilities of this business are carried at amortized cost. The PRT separate account business has been included as a nonindexed guarantee less than or equal to 4%.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

Another separate account offered by the Company contains a group of universal life policies wherein the assets supporting the account values on the underlying policies reside in a private placement separate account. It provides an annual interest rate guarantee, subject to a minimum guarantee of 3%. The interest rate declared each year reflects the anticipated investment experience of the account. The business has been included as a nonindexed guarantee less than or equal to 4%.

The following tables summarize the separate account reserves of the Company, as of the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in millions)* | Nonindexed<br>guarantee<br>less than or<br>equal to 4% | Nonindexed<br>guarantee<br>more than<br>4% | Nonguaranteed<br>separate<br>accounts | Total |
|  December 31, 2024 |  |  |  |  |
|  Premiums, considerations or deposits | $500 | $- | $9207 | $9707 |
|  Reserves |  |  |  |  |
|  For accounts with assets at: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fair value | $1629 | $108 | $118868 | $120605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amortized cost | 786 | - | - | 786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total reserves<sup>1</sup>**  | $2415 | $108 | $118868 | $121391 |
|  By withdrawal characteristics:<br>With market value adjustment | $1629 | $108 | $- | $1737 |
| &nbsp;&nbsp;&nbsp;&nbsp; At fair value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118785 |
| &nbsp;&nbsp;&nbsp;&nbsp; At book value without market value adjustment and with current surrender charge less than 5% | 308 | - | 7 | 315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $1937 | $108 | $118792 | $120837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | 478 | - | 76 | 554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total reserves<sup>1</sup>**  | $2415 | $108 | $118868 | $121391 |

---

---

| | |
|:---|:---|
| 1 | The total reserves balance does not equal the liabilities related to separate accounts of $122.9 billion in the statutory statements of admitted assets, liabilities, capital and surplus by $1.5 billion, due to an adjustment for CARVM/CRVM reserves and other liabilities that have not been allocated to the categories outlined above.  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in millions)* | Nonindexed<br>guarantee<br>less than or<br>equal to 4% | Nonindexed<br>guarantee<br>more than<br>4% | Nonguaranteed<br>separate<br>accounts | Total |
|  December 31, 2023 |  |  |  |  |
|  Premiums, considerations or deposits | $88 | $- | $6181 | $6269 |
|  Reserves |  |  |  |  |
|  For accounts with assets at: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Fair value | $1781 | $143 | $109609 | $111533 |
| &nbsp;&nbsp;&nbsp;&nbsp; Amortized cost | 401 | - | - | 401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total reserves<sup>1</sup>**  | $2182 | $143 | $109609 | $111934 |
|  By withdrawal characteristics:<br>With market value adjustment | $1779 | $143 | $- | $1922 |
| &nbsp;&nbsp;&nbsp;&nbsp; At fair value |  |  | 109522 | 109522 |
| &nbsp;&nbsp;&nbsp;&nbsp; At book value without market value adjustment and with current surrender charge less than 5% | 304 | - | 6 | 310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $2083 | $143 | $109528 | $111754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not subject to discretionary withdrawal | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total reserves<sup>1</sup>**  | $2182 | $143 | $109609 | $111934 |

---

---

| | |
|:---|:---|
| 1 | The total reserves balance does not equal the liabilities related to separate accounts of $113.3 billion in the statutory statements of admitted assets, liabilities, capital and surplus by $1.3 billion, due to an adjustment for CARVM/CRVM reserves and other liabilities that have not been allocated to the categories outlined above.  |

---

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table is a reconciliation of net transfers from separate accounts, as of the dates indicated:

---

| | | | |
|:---|:---|:---|:---|
| | December 31, | December 31, | December 31, |
| <br>*(in millions)* | 2024 | 2023 | 2022 |
|  Net transfers as reported in the statutory statements of operations of the separate accounts: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers to separate accounts | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9707 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6268 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7757 |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers from separate accounts | (12859) | (9446) | (8860) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net transfers from separate accounts** | $(3152) | $(3178) | $(1103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reconciling adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange accounts offsetting in the general account | (431) | (889) | (606) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees not included in general account transfers | 57 | 41 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other miscellaneous adjustments not included in the general account balance | 57 | 284 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net transfers as reported in the statutory statements of operations** | $(3469) | $(3742) | $(1635) |

---

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

**(5)** **Investments** 

***Bonds and Stocks***

The following table summarizes the carrying value, the excess of fair value over carrying value, the excess of carrying value over fair value and the fair value of bonds and stocks, as of the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in millions)* | Carrying<br>value | Fair value in<br>excess<br> of carrying<br>value | Carrying<br>value in<br>excess of fair<br>value | Fair value |
|  December 31, 2024 |  |  |  |  |
|  **Bonds:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government | $65 | $- | $1 | $64 |
| &nbsp;&nbsp;&nbsp;&nbsp; States, territories and possessions | 823 | 4 | 69 | 758 |
| &nbsp;&nbsp;&nbsp;&nbsp; Political subdivisions | 289 | 5 | 22 | 272 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special revenues | 2893 | 23 | 317 | 2599 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial and miscellaneous | 32850 | 191 | 2484 | 30557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loan-backed and structured securities | 8878 | 50 | 257 | 8671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45798 | $273 | $3150 | $42921 |
|  Common stocks unaffiliated | $221 | $- | $- | $221 |
|  Preferred stocks unaffiliated | 42 | - | - | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total unaffiliated stocks<sup>1</sup>**  | $263 | $- | $- | $263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds and unaffiliated stocks<sup>1</sup>**  | $46061 | $273 | $3150 | $43184 |
|  December 31, 2023 |  |  |  |  |
|  **Bonds:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government | $173 | $3 | $- | $176 |
| &nbsp;&nbsp;&nbsp;&nbsp; States, territories and possessions | 609 | 10 | 44 | 575 |
| &nbsp;&nbsp;&nbsp;&nbsp; Political subdivisions | 371 | 11 | 21 | 361 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special revenues | 2994 | 57 | 248 | 2803 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial and miscellaneous | 31796 | 311 | 2206 | 29901 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loan-backed and structured securities | 7924 | 38 | 304 | 7658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43867 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2823 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41474 |
|  Common stocks unaffiliated | $231 | $- | $- | $231 |
|  Preferred stocks unaffiliated | 47 | - | 1 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total unaffiliated stocks<sup>1</sup>**  | $278 | $- | $1 | $277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds and unaffiliated stocks<sup>1</sup>**  | $44145 | $430 | $2824 | $41751 |

---

---

| | |
|:---|:---|
| 1 | Excludes affiliated common stocks with a carrying value of $3.7 billion and 3.4 billion as of December 31, 2024 and 2023, respectively. Affiliated common stocks include investment in NLAIC and JNL of $3.5 billion and $209 million as of December 31, 2024, respectively. Affiliated common stocks include investment in NLAIC and JNL of $3.2 billion and $203 million as of December 31, 2023, respectively.  |

---

The carrying value of bonds on deposit with various states as required by law was immaterial as of December 31, 2024 and 2023.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table summarizes the carrying value and fair value of bonds, by contractual maturity, as of December 31, 2024. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without early redemption penalties:

---

| | | |
|:---|:---|:---|
| *(in millions)* | Carrying value | Fair value |
|  **Bonds:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Due in one year or less | $1460 | $1454 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due after one year through five years | 11078 | 10795 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due after five years through ten years | 10554 | 9999 |
| &nbsp;&nbsp;&nbsp;&nbsp; Due after ten years | 13828 | 12002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total bonds excluding loan-backed and structured securities | $36920 | $34250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loan-backed and structured securities | 8878 | 8671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds** | $45798 | $42921 |

---

The following table summarizes the fair value and unrealized losses on bonds and stocks (amount by which cost or amortized cost exceeds fair value), for which other-than-temporary declines in value have not been recognized, based on the amount of time each type of bond or stock has been in an unrealized loss position, as of the dates indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Less than or equal to one<br>year | Less than or equal to one<br>year | More than one year | More than one year | Total | Total |
| *(in millions)* | Fair value | Unrealized<br>losses | Fair value | Unrealized<br>losses | Fair value | Unrealized<br>losses |
|  December 31, 2024 |  |  |  |  |  |  |
|  **Bonds:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government | $53 | $1 | $1 | $- | $54 | $1 |
| &nbsp;&nbsp;&nbsp;&nbsp; States, territories and possessions | 280 | 10 | 326 | 60 | 606 | 70 |
| &nbsp;&nbsp;&nbsp;&nbsp; Political subdivisions | 12 | 1 | 137 | 21 | 149 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special revenues | 439 | 16 | 1686 | 301 | 2125 | 317 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial and miscellaneous | 5205 | 165 | 18171 | 2484 | 23376 | 2649 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loan-backed and structured securities | 358 | 2 | 2177 | 258 | 2535 | 260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds** | $6347 | $195 | $22498 | $3124 | $28845 | $3319 |
| &nbsp;&nbsp;&nbsp;&nbsp; Common stocks unaffiliated | $- | $- | $- | $- | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred stocks unaffiliated | 3 |  | 1 |  | 4 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total unaffiliated stocks** | $3 | $- | $1 | $- | $4 | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds and unaffiliated stocks** | $6350 | $195 | $22499 | $3124 | $28849 | $3319 |
|  December 31, 2023 |  |  |  |  |  |  |
|  **Bonds:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Government | $79 | $- | $1 | $- | $80 | $- |
| &nbsp;&nbsp;&nbsp;&nbsp; States, territories and possessions | 30 |  | 373 | 44 | 403 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; Political subdivisions | 51 |  | 148 | 21 | 199 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp; Special revenues | 45 | 1 | 1934 | 247 | 1979 | 248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Industrial and miscellaneous | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2309 |
| &nbsp;&nbsp;&nbsp;&nbsp; Loan-backed and structured securities | 485 | 2 | 4671 | 303 | 5156 | 305 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds** | $1783 | $46 | $28742 | $2881 | $30525 | $2927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Common stocks unaffiliated | $- | $- | $37 | $5 | $37 | $5 |
| &nbsp;&nbsp;&nbsp;&nbsp; Preferred stocks unaffiliated | 3 |  | 6 |  | 9 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total unaffiliated stocks** | $3 | $- | $43 | $5 | $46 | $5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total bonds and unaffiliated stocks** | $1786 | $46 | $28785 | $2886 | $30571 | $2932 |

---

As of December 31, 2024, management evaluated securities in an unrealized loss position for impairment. As of the reporting date, the Company has the intent and ability to hold these securities until the fair value recovers, which may be at maturity, and therefore, does not consider the securities to be other-than-temporarily impaired.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

As of December 31, 2024, the Company had the intent to sell an immaterial balance of loan-backed and structured securities identified as having an other-than-temporary impairment. There were no loan-backed and structured securities with an other-than-temporary impairment that were intended to be sold as of December 31, 2023.

***Mortgage Loans, Net of Allowance***

The following table summarizes the amortized cost of mortgage loans and the related allowance for credit losses as of the dates indicated:

---

| | | |
|:---|:---|:---|
| | December 31, | December 31, |
| <br>*(in millions)* | 2024 | 2023 |
|  **Total amortized cost** | $9619 | $9146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Allowance for credit losses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mortgage loans, net of allowance<sup>1,2</sup>**  | $9619 | $9144 |

---

1 For the years ended December 31, 2024, 2023 and 2022, changes in the allowance for credit losses were immaterial and due to current period provisions.

---

| | |
|:---|:---|
| 2 | Effective January 1, 2023, the Company changed its method for reserving for mortgage loans by removing the need for a non-specific reserve. In the Company's judgment, the change in reserving approach appropriately reflects the credit risk inherent for mortgage loans held. The impact of the change was recorded as a reversal of the non-specific reserves, resulting in an increase to unassigned surplus of $4 million and recorded through 'Other, net' activity within the statutory statements of changes in capital and surplus. There was no impact on net income.  |

---

As of December 31, 2024 and 2023, the Company's mortgage loans classified as delinquent and/or in non-accrual status were immaterial.

The following table summarizes the LTV ratio and DSC ratio of the mortgage loan portfolio as of the dates indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | LTV ratio | LTV ratio | LTV ratio | DSC ratio | DSC ratio | DSC ratio |
| <br>*(in millions)* | Less than<br>90% | 90% or<br>greater | Total | Greater than<br>1.00 | Less than or<br>equal to 1.00 | Total |
|  December 31, 2024 |  |  |  |  |  |  |
|  Apartment | $3790 | $58 | $3848 | $3771 | $77 | $3848 |
|  Industrial | 1977 | 62 | 2039 | 2039 |  | 2039 |
|  Office | 902 | 178 | 1080 | 1046 | 34 | 1080 |
|  Retail | 1974 | 12 | 1986 | 1978 | 8 | 1986 |
|  Other | 250 | - | 250 | 207 | 43 | 250 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total<sup>1</sup>**  | $8893 | $310 | $9203 | $9041 | $162 | $9203 |
|  Weighted average DSC ratio | 2.16 | 1.39 | 2.13 | n/a | n/a | n/a |
|  Weighted average LTV ratio | n/a | n/a | n/a | 60% | 72% | 60% |
|  December 31, 2023 |  |  |  |  |  |  |
|  Apartment | $3831 | $22 | $3853 | $3823 | $29 | $3852 |
|  Industrial | 1842 |  | 1842 | 1842 |  | 1842 |
|  Office | 1057 | 71 | 1128 | 1126 | 3 | 1129 |
|  Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1896 |
|  Other | 256 | - | 256 | 216 | 40 | 256 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total<sup>1</sup>**  | $8874 | $101 | $8975 | $8894 | $81 | $8975 |
|  Weighted average DSC ratio | 2.20 | 1.33 | 2.19 | n/a | n/a | n/a |
|  Weighted average LTV ratio | n/a | n/a | n/a | 56% | 71% | 57% |

---

---

| | |
|:---|:---|
| 1 | Excludes $416 million and $171 million of commercial mortgage loans that were under development as of December 31, 2024 and 2023, respectively.  |

---

As of December 31, 2024 and 2023, the Company has a diversified mortgage loan portfolio with no more than 22% and 23%, respectively, in a geographic region in the U.S., no more than 44% in a property type and no more than 1% with any one borrower. The maximum and minimum lending rates for mortgage loans originated or acquired during 2024 were 12.0% and 5.1%, respectively, and for those originated or acquired during 2023 were 9.2% and 4.8%, respectively. As of December 31, 2024 and 2023, the maximum LTV ratio of any one loan at the time of loan origination was 89% and 78%, respectively. As of December 31, 2024 and 2023, the Company did not hold mortgage loans with interest 90 days or more past due. Additionally, there were no taxes, assessments or amounts advanced and not included in the mortgage loan portfolio.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

***Securities Lending***

The fair value of loaned securities was $1.1 billion and $922 million as of December 31, 2024 and 2023, respectively. The Company held $247 million and $359 million of cash collateral on securities lending as of December 31, 2024 and 2023, respectively. The carrying value and fair value of reinvested collateral assets were $247 million and $359 million and had a contractual maturity of under 30 days as of December 31, 2024 and 2023, respectively. The fair value of bonds acquired with reinvested collateral assets was $252 million and $366 million as of December 31, 2024 and 2023, respectively. There are no securities lending transactions that extend beyond one year as of the reporting date. ****The Company received $834 million and $584 million of non-cash collateral on securities lending as of December 31, 2024 and 2023, respectively.

***Net Investment Income***

The following table summarizes net investment income by investment type, for the years ended:

---

| | | | |
|:---|:---|:---|:---|
| | December 31, | December 31, | December 31, |
| <br>*(in millions)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 |
|  Bonds | $2151 | $1917 | $1511 |
|  Mortgage loans | 413 | 357 | 334 |
|  Other invested assets | 740 | 868 | 196 |
|  Policy loans | 46 | 43 | 42 |
|  Derivative instruments<sup>1</sup>  | 39 | 24 | 19 |
|  Other | 83 | 62 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Gross investment income** | $3472 | $3271 | $2146 |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment expenses | (143) | (135) | (127) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net investment income** | $3329 | $3136 | $2019 |

---

1 Includes net investment income applying the prescribed practice under OAC 3901-1-67, as disclosed in Note 2.

The amount of investment income due and accrued that was nonadmitted as of December 31, 2024 and 2023 was immaterial. Investment income due and accrued as of December 31, 2024 and 2023 that was admitted was $699 million and $965 million, respectively.

***Net Realized Capital Gains and Losses***

The following table summarizes net realized capital gains and losses for the years ended:

---

| | | | |
|:---|:---|:---|:---|
| <br>*(in millions)* |<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | December 31,<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 |<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 |
|  Gross gains on sales | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
|  Gross losses on sales | (102) | (68) | (149) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net realized capital losses on sales** | $(47) | $(37) | $(118) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized derivative (losses) gains | (445) | (378) | 284 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other-than-temporary impairments | (36) | (21) | (26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total net realized capital (losses) gains** | $(528) | $(436) | $140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax expense (benefit) on net (losses) gains | 1 | (4) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net realized capital (losses) gains, net of tax** | $(529) | $(432) | $137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Net realized capital losses transferred to the IMR | (53) | (30) | (103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net realized capital (losses) gains, net of tax and transfers to the IMR** | $(476) | $(402) | $240 |

---

For the year ended December 31, 2024, gross realized gains and gross realized losses on sales of bonds were $29 million and $97 million, respectively. For the year ended December 31, 2023, gross realized gains and gross realized losses on sales of bonds were $25 million and $64 million, respectively. For the year ended December 31, 2022, gross realized gains and gross realized losses on sales of bonds were $7 million and $145 million, respectively.

The Company did not enter into any material repurchase transactions that would be considered wash sales during the years ended December 31, 2024, 2023 and 2022.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

***Investment Commitments***

The Company had unfunded commitments related to its investment in limited partnerships and limited liability companies totaling $1.3 billion and $1.0 billion as of December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, there were $267 million and $99 million of commitments to purchase private placement bonds, respectively. There were $434 million and $490 million of outstanding commitments to fund mortgage loans as of December 31, 2024 and 2023, respectively.

**(6)** **Derivative Instruments** 

The Company is exposed to certain risks related to its ongoing business operations which are managed using derivative instruments.

*Interest rate risk management.* In the normal course of business, the Company enters into transactions that expose it to interest rate risk arising from mismatches between assets and liabilities. The Company may use interest rate swaps and futures to reduce or alter interest rate exposure.

Interest rate contracts are used by the Company in association with fixed and variable rate investments to achieve cash flow streams that support certain financial obligations of the Company and to produce desired investment returns. As such, interest rate contracts are generally used to convert fixed rate cash flow streams to variable rate cash flow streams or vice versa.

*Equity market risk management.* The Company issues a variety of insurance products that expose it to equity risks. To mitigate these risks, the Company enters into a variety of derivatives including equity index futures and options.

*Indexed crediting risk management.* The Company issues a variety of insurance and annuity products with indexed crediting features that expose the Company to risks related to the performance of an underlying index. To mitigate these risks, the Company enters into a variety of derivatives including index options, total return swaps and futures. The underlying indices can have exposure to equites, commodities and fixed income securities.

*Other risk management.* As part of its regular investing activities, the Company may purchase foreign currency denominated investments. These investments and the associated income expose the Company to volatility associated with movements in foreign exchange rates. As foreign exchange rates change, the increase or decrease in the cash flows of the derivative instrument are intended to mitigate the changes in the functional-currency equivalent cash flows of the hedged item. To mitigate this risk, the Company uses cross-currency swaps.

*Credit risk associated with derivatives transactions.* The Company periodically evaluates the risks within the derivative portfolios due to credit exposure. When evaluating this risk, the Company considers several factors which include, but are not limited to, the counterparty credit risk associated with derivative receivables, the Company's own credit as it relates to derivative payables, the collateral thresholds associated with each counterparty and changes in relevant market data in order to gain insight into the probability of default by the counterparty. The Company also considers the impact credit exposure could have on the effectiveness of the Company's hedging relationships. As of December 31, 2024 and 2023, the impact of the exposure to credit risk on the fair value measurement of derivatives and the effectiveness of the Company's hedging relationships was immaterial.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table summarizes the fair value, carrying value and related notional amounts of derivative instruments, as of the dates indicated:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in millions)* | Notional<br>amount | Net carrying<br>Value | Fair value<br>asset | Fair value<br>liability | Average fair<br>value |
|  December 31, 2024 |  |  |  |  |  |
|  Interest rate swaps | $2483 | $- | $- | $- | $- |
|  Options | 196 | 2 | 4 |  |  |
|  Cross currency swaps | 1748 | 170 | 172 | (11) | 1 |
|  Futures | 1852 |  |  |  |  |
|  Total return swaps | 600 | 16 | 16 | - |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total derivatives¹** | $6879 | $188 | $192 | $(11) | $1 |
|  December 31, 2023 |  |  |  |  |  |
|  Interest rate swaps | $2410 | $- | $- | $- | $- |
|  Options | 137 | 1 | 7 |  |  |
|  Cross currency swaps | 1621 | 94 | 120 | (22) | 1 |
|  Futures | 2925 | - | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total derivatives¹** | $7093 | $95 | $127 | $(22) | $1 |

---

1 Fair value balance excludes immaterial accrued interest on derivative assets for December 31, 2024 and 2023.

The Company received $717 million and $253 million of cash collateral and held $125 million and $49 million of securities off-balance sheet as collateral for derivative assets as of December 31, 2024 and 2023, respectively. Cash and securities pledged for derivative liabilities were immaterial as of December 31, 2024 and 2023. The impact of netting as a result of master netting agreements reduced the fair value of derivative assets and liabilities by $10 million and $20 million as of December 31, 2024 and 2023, respectively. As a result, the Company's uncollateralized position for derivatives instruments was immaterial in each respective period. In addition, the Company posted initial margin on derivative instruments of $229 million and $256 million as of December 31, 2024 and 2023, respectively.

The following table summarizes net gains and losses on derivatives programs by type of derivative instrument, as of the dates indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Net realized (losses) gains<br>recorded in operations | Net realized (losses) gains<br>recorded in operations | Net realized (losses) gains<br>recorded in operations | Unrealized gains (losses) recorded in<br>capital and surplus | Unrealized gains (losses) recorded in<br>capital and surplus | Unrealized gains (losses) recorded in<br>capital and surplus |
| | December 31, | December 31, | December 31, | December 31, | December 31, | December 31, |
| <br>*(in millions)* | 2024 | 2023 | 2022 | 2024 | 2023 | 2022 |
|  Cross currency swaps | $1 | $- | $1 | $78 | $(43) | $103 |
|  Futures | (446) | (378) | 283 | 131 | (173) | 124 |
|  Total return swaps | - | - | - | 16 | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; **Total** | $(445) | $(378) | $284 | $225 | $(216) | $227 |

---

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

**(7)** **Fair Value Measurements** 

The following table summarizes assets and liabilities held at fair value as of December 31, 2024:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in millions)* | Level 1 | Level 2 | Level 3 | Net Asset<br>Value (NAV) | Total |
|  **Assets** |  |  |  |  |  |
|  Bonds | $- | $11 | $- | $- | $11 |
|  Common stocks unaffiliated | 39 | 182 |  |  | 221 |
|  Preferred stocks unaffiliated |  | 32 | 10 |  | 42 |
|  Derivative assets |  | 16 |  |  | 16 |
|  Separate account assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112173 | 1558 | 35 | 7927 | 121693 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Assets at fair value** | $112212 | $1799 | $45 | $7927 | $121983 |

---

The following table presents the rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2024:

---

| | | | |
|:---|:---|:---|:---|
| *(in millions)* | Preferred stocks<br>unaffiliated | Separate account<br>assets | Assets at fair value |
|  **Balance as of December 31, 2023** | $7 | $51 | $58 |
|  Net gains (losses): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; In surplus | (1) | 5 | 4 |
|  Purchases | 4 |  | 4 |
|  Sales | - | (21) | (21) |
|  **Balance as of December 31, 2024** | $10 | $35 | $45 |

---

The following table summarizes assets and liabilities held at fair value as of December 31, 2023:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(in millions)* | Level 1 | Level 2 | Level 3 | Net Asset<br>Value (NAV) | Total |
|  **Assets** |  |  |  |  |  |
|  Bonds | $- | $7 | $- | $- | $7 |
|  Common stocks unaffiliated | 67 | 164 |  |  | 231 |
|  Preferred stocks unaffiliated |  | 39 | 7 |  | 46 |
|  Separate account assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637 | 51 | 6430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112673 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Assets at fair value** | $104622 | $1847 | $58 | $6430 | $112957 |

---

The following table presents the rollforward of Level 3 assets and liabilities held at fair value during the year ended December 31, 2023:

---

| | | | |
|:---|:---|:---|:---|
| *(in millions)* | Preferred stocks<br>unaffiliated | Separate account<br>assets | Assets at fair value |
|  **Balance as of December 31, 2022** | $6 | $55 | $61 |
|  Net gains (losses): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; In surplus | 1 | (1) |  |
|  Purchases | 3 |  | 3 |
|  Sales | (3) | (3) | (6) |
|  **Balance as of December 31, 2023** | $7 | $51 | $58 |

---

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table summarizes the carrying value and fair value of the Company's assets and liabilities not held at fair value as of the dates indicated. The valuation techniques used to estimate these fair values are described below or in Note 2.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | Fair Value | Fair Value | Fair Value | Fair Value | |
| <br>*(in millions)* | Level 1 | Level 2 | Level 3 | Total fair<br>value |<br>Carrying value |
|  December 31, 2024 |  |  |  |  |  |
|  **Assets:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bonds | $64 | $36103 | $6743 | $42910 | $45787 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans, net of allowance |  |  | 8446 | 8446 | 9619 |
| &nbsp;&nbsp;&nbsp;&nbsp; Policy loans |  |  | 1038 | 1038 | 1038 |
| &nbsp;&nbsp;&nbsp;&nbsp; Derivative assets |  | 172 | 4 | 176 | 178 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents and short-term investments | (66) | 1753 |  | 1687 | 1687 |
| &nbsp;&nbsp;&nbsp;&nbsp; Securities lending collateral assets | 247 |  |  | 247 | 247 |
| &nbsp;&nbsp;&nbsp;&nbsp; Separate account assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total assets** | $282 | $38777 | $16583 | $55642 | $59735 |
|  **Liabilities:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment contracts | $- | $- | $3306 | $3306 | $3605 |
| &nbsp;&nbsp;&nbsp;&nbsp; Derivative liabilities | - | 11 | - | 11 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities** | $- | $11 | $3306 | $3317 | $3611 |
|  December 31, 2023 |  |  |  |  |  |
|  **Assets:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Bonds | $175 | $35293 | $5999 | $41467 | $43860 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mortgage loans, net of allowance |  |  | 8047 | 8047 | 9144 |
| &nbsp;&nbsp;&nbsp;&nbsp; Policy loans |  |  | 969 | 969 | 969 |
| &nbsp;&nbsp;&nbsp;&nbsp; Derivative assets |  | 120 | 7 | 127 | 113 |
| &nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents and short-term investments | (52) | 1607 |  | 1555 | 1555 |
| &nbsp;&nbsp;&nbsp;&nbsp; Securities lending collateral assets | 359 |  |  | 359 | 359 |
| &nbsp;&nbsp;&nbsp;&nbsp; Separate account assets | 5 | 411 | 157 | 573 | 597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total assets** | $487 | $37431 | $15179 | $53097 | $56597 |
|  **Liabilities:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investment contracts | $- | $- | $3265 | $3265 | $3242 |
| &nbsp;&nbsp;&nbsp;&nbsp; Derivative liabilities | - | 22 | - | 22 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities** | $- | $22 | $3265 | $3287 | $3259 |

---

*Mortgage loans, net of allowance.* The fair values of mortgage loans are primarily estimated using discounted cash flow analyses based on interest rates currently being offered for similar loans to borrowers with similar credit ratings.

*Policy loans.* The carrying amount reported in the statutory statements of admitted assets, liabilities, capital and surplus approximates fair value as policy loans are fully collateralized by the cash surrender value of underlying insurance policies.

*Securities lending collateral assets.* These assets are comprised of bonds and short-term investments and the respective fair values are estimated based on the fair value methods described in Note 2.

*Investment contracts.* For investment contracts without defined maturities, fair value is the amount payable on demand, net of surrender charges. For investment contracts with known or determined maturities, fair value is estimated using discounted cash flow analysis. Interest rates used in this analysis are similar to currently offered contracts with maturities consistent with those remaining for the contracts being valued. The fair value of adjustable-rate contracts approximates their carrying value.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

**(8)** **Federal Income Taxes** 

The following tables summarize the net admitted deferred tax assets, as of the dates indicated:

---

| | | | |
|:---|:---|:---|:---|
| | December 31, 2024 | December 31, 2024 | December 31, 2024 |
| <br>*(in millions)* | Ordinary | Capital | Total |
|  Total gross deferred tax assets | $950 | $4 | $954 |
|  Statutory valuation allowance adjustment | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; **Adjusted gross deferred tax assets** | $950 | $4 | $954 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Deferred tax assets nonadmitted | (169) | - | (169) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net admitted deferred tax assets** | $781 | $4 | $785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Deferred tax liabilities | (103) | (22) | (125) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net admitted deferred tax assets** | $678 | $(18) | $660 |
|  | December 31, 2023 | December 31, 2023 | December 31, 2023 |
| *(in millions)* | Ordinary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |
|  Total gross deferred tax assets | $953 | $21 | $974 |
|  Statutory valuation allowance adjustment | - | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; **Adjusted gross deferred tax assets** | $953 | $21 | $974 |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Deferred tax assets nonadmitted | (222) | - | (222) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net admitted deferred tax assets** | $731 | $21 | $752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Less: Deferred tax liabilities | (105) | (15) | (120) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net admitted deferred tax assets** | $626 | $6 | $632 |

---

The following table summarizes components of the change in deferred income taxes reported in capital and surplus before consideration of nonadmitted assets and changes from the prior year, as of the dates indicated:

---

| | | | |
|:---|:---|:---|:---|
| | December 31, | December 31, | |
| <br>*(in millions)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 |<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change |
|  Adjusted gross deferred tax assets | $954 | $974 | $(20) |
|  Total deferred tax liabilities | (125) | (120) | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp; **Net deferred tax assets** | $829 | $854 | $(25) |
| &nbsp;&nbsp;&nbsp;&nbsp; Less: Tax effect of unrealized gains and losses |  |  | (53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Change in deferred income tax** |  |  | $28 |

---

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following tables summarize components of the admitted deferred tax assets calculation, as of the dates indicated:

---

| | | | |
|:---|:---|:---|:---|
| | December 31, 2024 | December 31, 2024 | December 31, 2024 |
| <br>*(in millions)* | Ordinary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |
|  Federal income taxes recoverable through loss carryback | $- | $1 | $1 |
|  Adjusted gross deferred tax assets expected to be realized<sup>1</sup>  | 657 | 2 | 659 |
|  Adjusted gross deferred tax assets offset against existing gross deferred tax liabilities | 124 | 1 | 125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Admitted deferred tax assets** | $781 | $4 | $785 |

---

---

| | | | |
|:---|:---|:---|:---|
| | December 31, 2023 | December 31, 2023 | December 31, 2023 |
| <br>*(in millions)* | Ordinary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |
|  Federal income taxes recoverable through loss carryback | $- | $3 | $3 |
|  Adjusted gross deferred tax assets expected to be realized<sup>1</sup>  | 623 | 6 | 629 |
|  Adjusted gross deferred tax assets offset against existing gross deferred tax liabilities | 108 | 12 | 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Admitted deferred tax assets** | $731 | $21 | $752 |

---

---

| | |
|:---|:---|
| 1 | Note that this amount is calculated as the lesser of the adjusted gross deferred tax assets expected to be realized following the balance sheet date or the adjusted gross deferred tax assets allowed per the limitation threshold. For the years ended December 31, 2024 and 2023, the threshold limitation for adjusted capital and surplus was $1.8 billion and $1.6 billion, respectively.  |

---

The adjusted capital and surplus used to determine the recovery period and adjusted gross deferred tax assets allowed per the limitation threshold was $11.8 billion and $10.5 billion as of December 31, 2024 and 2023, respectively. The ratio percentage used to determine the recovery period and adjusted gross deferred tax assets allowed per the limitation threshold was 1,108% and 1,062% as of December 31, 2024 and 2023, respectively.

The following tables summarize the impact of tax planning strategies, as of the dates indicated:

---

| | | | |
|:---|:---|:---|:---|
|  | December 31, 2024 | December 31, 2024 | December 31, 2024 |
| | Ordinary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |
|  Adjusted gross deferred tax assets | 0.00% | 0.00% | 0.00% |
|  Net admitted adjusted gross deferred tax assets | 17.06% | 0.33% | 17.39% |

---

---

| | | | |
|:---|:---|:---|:---|
|  | December 31, 2023 | December 31, 2023 | December 31, 2023 |
| | Ordinary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |
|  Adjusted gross deferred tax assets | 0.00% | 0.00% | 0.00% |
|  Net admitted adjusted gross deferred tax assets | 7.19% | 0.00% | 7.19% |

---

The Company's tax planning strategies included the use of affiliated reinsurance for the years ended December 31, 2024 and 2023.

There are no temporary differences for which deferred tax liabilities are not recognized for the years ended December 31, 2024 and 2023.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table summarizes the tax effects of temporary differences and the change from the prior year, for the years ended:

---

| | | | |
|:---|:---|:---|:---|
| | December 31, | December 31, | |
| <br>*(in millions)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 |<br>Change |
|  **Deferred tax assets** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Ordinary:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Future policy benefits and claims | $244 | $231 | $13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | 114 | 110 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred acquisition costs | 350 | 297 | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax credit carry-forward | 180 | 259 | (79) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | 62 | 56 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $950 | $953 | $(3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nonadmitted | (169) | (222) | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Admitted ordinary deferred tax assets** | $781 | $731 | $50 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Capital:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | 4 | 21 | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $4 | $21 | $(17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Admitted capital deferred tax assets** | $4 | $21 | $(17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Admitted deferred tax assets** | $785 | $752 | $33 |
|  **Deferred tax liabilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; **Ordinary:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | $(70) | $(68) | $(2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Future policy benefits and claims | (15) | (22) | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | (18) | (15) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $(103) | $(105) | $2 |
| &nbsp;&nbsp;&nbsp;&nbsp; **Capital:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments | (22) | (15) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Subtotal** | $(22) | $(15) | $(7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Deferred tax liabilities** | $(125) | $(120) | $(5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Net deferred tax assets** | $660 | $632 | $28 |

---

In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion of the total deferred tax assets will not be realized. Valuation allowances are established when necessary to reduce the deferred tax assets to amounts expected to be realized. Based on the Company's analysis, it is more likely than not that the results of future operations and the implementation of tax planning strategies will generate sufficient taxable income to enable the Company to realize all deferred tax assets. Therefore, no valuation allowances have been established as of December 31, 2024 and 2023.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The following table summarizes the Company's income tax incurred and change in deferred income tax. The total income tax and change in deferred income tax differs from the amount obtained by applying the federal statutory rate to income before tax as follows, for the years ended:

---

| | | | |
|:---|:---|:---|:---|
| <br>*(in millions)* | 2024 | December 31,<br>2023 | 2022 |
|  Current income tax expense | $68 | $104 | $103 |
|  Change in deferred income tax (without tax on unrealized gains and losses) | (28) | (132) | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total income tax expense (benefit) reported** | $40 | $(28) | $75 |
|  Income before income and capital gains taxes | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219 | $1053 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077 |
|  Federal statutory tax rate | 21% | 21% | 21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Expected income tax expense at statutory tax rate** | $256 | $221 | $226 |
| (Decrease) increase in actual tax reported resulting from: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends received deduction | (172) | (211) | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Tax credits | (44) | (45) | (58) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other | - | 7 | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total income tax expense (benefit) reported** | $40 | $(28) | $75 |

---

The Company incurred $1 million in federal income tax expense in 2023, which is available for recoupment in the event of future net losses.

The following table summarizes operating loss or tax credit carry-forwards available as of December 31, 2024:

---

| | | | |
|:---|:---|:---|:---|
| *(in millions)* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amount | Origination | Expiration |
|  Operating loss carryforwards | $2 | 2017 | 2032 |
|  Business credits | $22 | 2018 | 2038 |
|  Business credits | $27 | 2019 | 2039 |
|  Business credits | $29 | 2020 | 2040 |
|  Business credits | $28 | 2021 | 2041 |
|  Business credits | $27 | 2022 | 2042 |
|  Business credits | $24 | 2023 | 2043 |
|  Business credits | $23 | 2024 | 2044 |

---

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The Company is included in the NMIC consolidated federal income tax return which includes the following entities:

---

| | |
|:---|:---|
| Nationwide Mutual Insurance Company | Nationwide Financial General Agency, Inc. |
| Allied Insurance Company of America | Nationwide Financial Services, Inc. |
| Allied Property & Casualty Insurance Company | Nationwide General Insurance Company |
| Allied Texas Agency, Inc. | Nationwide Indemnity Company |
| AMCO Insurance Company | Nationwide Insurance Company of America |
| American Marine Underwriters | Nationwide Insurance Company of Florida |
| Crestbrook Insurance Company | Nationwide Investment Services Corporation |
| Depositors Insurance Company | Nationwide Life and Annuity Insurance Company |
| DVM Insurance Agency, Inc. | Nationwide Life Insurance Company |
| Eagle Captive Reinsurance, LLC | Nationwide Lloyds |
| Freedom Specialty Insurance Company | Nationwide Property & Casualty Insurance Company |
| Harleysville Insurance Company of New York | Nationwide Retirement Solutions, Inc. |
| Harleysville Insurance Company | Nationwide Sales Solutions, Inc. |
| Harleysville Insurance Company of New Jersey | Nationwide Trust Company, FSB |
| Harleysville Lake States Insurance Company | NBS Insurance Agency, Inc. |
| Harleysville Preferred Insurance Company | NFS Distributors, Inc. |
| Harleysville Worcester Insurance Company | Registered Investment Advisors Services, Inc. |
| Jefferson National Life Insurance Company | Retention Alternatives, Ltd. |
| Jefferson National Life Insurance Company of New York | Retention Alternatives Ltd. In Respect of Cell No. 1 |
| Lone Star General Agency, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Segregated Account |
| National Casualty Company | Scottsdale Indemnity Company |
| Nationwide Advantage Mortgage Company | Scottsdale Insurance Company |
| Nationwide Affinity Insurance Company of America | Scottsdale Surplus Lines Insurance Company |
| Nationwide Agent Risk Purchasing Group. Inc. | Titan Insurance Company |
| Nationwide Agribusiness Insurance Company | Titan Insurance Services, Inc. |
| Nationwide Assurance Company | Veterinary Pet Insurance Company |
| Nationwide Cash Management Company | Victoria Fire & Casualty Company |
| Nationwide Corporation | Victoria Select Insurance Company |
| Nationwide Financial Assignment Company | VPI Services, Inc. |

---

The method of allocation of regular tax among the companies is based upon separate return calculations with current benefit for tax losses and credits utilized in the consolidated return. Effective January 1, 2023, the Company revised its tax sharing agreement to address corporate alternative minimum tax ("CAMT"). If the consolidated federal income tax return group is an Applicable Corporation and has a CAMT liability, all members of the group will be treated as Applicable Corporations subject to CAMT. CAMT is paid by affiliates based on the ratio of the subsidiary's CAMT liability to the total CAMT liabilities of all subsidiaries.

The Company did not have any protective tax deposits under Section 6603 of the Internal Revenue Code as of December 31, 2024 and 2023.

The Company does not have any tax loss contingencies for which it is reasonably possible that the total liability will significantly increase within twelve months of the reporting date.

In August 2022, the Inflation Reduction Act of 2022 ("Act") was passed by the U.S. Congress and signed into law. The Act includes a new Federal CAMT, effective in 2023, that is based on the adjusted financial statement income ("AFSI") set forth on the applicable financial statement ("AFS") of an Applicable Corporation. A corporation is an Applicable Corporation if its rolling average pre-tax AFSI over three prior years (starting with 2020-2022) is greater than $1 billion. The $1 billion threshold is determined on a controlled-group basis by aggregating the AFSI of all entities treated as a single employer under tax law. The controlled-group's AFS is generally treated as the AFS for all separate entities in the controlled-group. Except under limited circumstances, once a corporation is an Applicable Corporation, it is an Applicable Corporation in all future years.

An Applicable Corporation is not automatically subject to a CAMT liability. An Applicable Corporation's tentative CAMT liability is equal to 15% of its adjusted AFSI, and CAMT is payable to the extent the tentative CAMT liability exceeds its regular corporate income tax. However, any CAMT paid would be indefinitely available as a credit carryover that could reduce future regular tax in excess of CAMT. For financial statement reporting, in the event an Applicable Corporation is subject to CAMT there will be no impact to total tax as any CAMT paid will be offset by the establishment of a deferred tax asset for the credit carryover.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The Company comprises a controlled-group of entities and has determined that it will be an Applicable Corporation in 2024. In making such determination, the Company has made certain interpretations of, and assumptions regarding, the CAMT provisions of the Act. While the U.S. Treasury Department issued proposed regulations on September 12, 2024, there remain many open questions and significant portions of the guidance will not be effective until the regulations are issued in final form. However, the proposed regulations, including the portions not effective until finalized, will not materially impact the Company's financial statements.

The Company has made an accounting policy election to disregard CAMT when evaluating the need for a valuation allowance for its non-CAMT deferred tax assets.

For the years ended December 31, 2024 and 2023, the Act did not impact the Company's total tax.

**(9)** **Short-Term Debt and FHLB Funding Agreements** 

***Short-Term Debt***

The Company is a party to a $750 million revolving variable rate credit facility agreement. The Company had no amounts outstanding under the facility as of December 31, 2024 and 2023.

The Company has entered into an agreement with its custodial bank to borrow against the cash collateral that is posted in connection with its securities lending program. The maximum amount available under the agreement is $350 million. The borrowing rate on this program is equal to Effective Federal Funds Rate plus 0.18%. The Company had no amounts outstanding under this agreement as of December 31, 2024 and 2023.

The terms of certain debt instruments contain various restrictive covenants, including, but not limited to, minimum statutory surplus defined in the agreements. The Company was in compliance with all covenants as of December 31, 2024 and 2023.

The amount of interest paid on short-term debt was immaterial in 2024, 2023 and 2022.

***FHLB Funding Agreements***

The Company is a member of the FHLB. Through its membership, the FHLB established the Company's capacity for short-term borrowings and cash advances under the funding agreement program at up to 40% of total admitted assets.

The Company's Board of Directors has authorized the issuance of funding agreements up to $6.0 billion to the FHLB, shared between the Company and NLAIC, in exchange for cash advances, which are collateralized by pledged securities. The Company uses these funds in an investment spread strategy, consistent with its other investment spread operations. As such, the Company applies SSAP No. 52, Deposit-Type Contracts*,* accounting treatment to these funds, consistent with its other deposit-type contracts. It is not part of the Company's strategy to utilize these funds for operations, and any funds obtained from the FHLB for use in general operations would be accounted for consistent with SSAP No. 15, Debt and Holding Company Obligations, as borrowed money. FHLB membership requires the Company to purchase and hold a minimum amount of FHLB capital stock plus additional stock based on outstanding advances. The Company has $20 million in membership stock as of December 31, 2024 and 2023, none of which is eligible for redemption. As part of the agreement, the Company purchased and held an additional $160 million and $144 million in activity stock and an immaterial amount in excess stock as of December 31, 2024 and 2023, respectively, which is included in stocks on the statutory statements of admitted assets, liabilities, capital and surplus. The Company's liability for advances from the FHLB was $3.6 billion and $3.3 billion as of December 31, 2024 and 2023, respectively, which is included in future policy benefits and claims on the statutory statements of admitted assets, liabilities, capital and surplus. Certain outstanding advances are subject to prepayment penalties under these agreements. The maximum amounts of aggregate advances from the FHLB were $3.6 billion and $3.3 billion for the years ended December 31, 2024 and 2023, respectively.

The Company has agreements with the FHLB to provide short-term financing for operations. These agreements, which were renewed in June 2024 and expire June 2025, allow the Company access to borrow up to $1.1 billion. As of December 31, 2024 and 2023, the Company had no amounts outstanding under these agreements.

Bonds and mortgage loans with a carrying value of $5.4 billion (2.9% of total admitted assets) and fair value of $4.8 billion

(2.5% of total admitted assets) as of December 31, 2024 and carrying value of $5.3 billion (3.0% of total admitted assets) and fair value of $4.6 billion (2.6% of total admitted assets) as of December 31, 2023 were pledged as collateral under FHLB agreements, as a condition for withdrawal, and are included in bonds and mortgage loans on the statutory statements of admitted assets, liabilities, capital and surplus. The maximum amount of collateral pledged to the FHLB had a carrying value of $5.5 billion and fair value of $4.9 billion for the year ended December 31, 2024, and a carrying value of $5.3 billion and fair value of $4.6 billion for the year ended December 31, 2023.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

**(10)** **Surplus Notes** 

The following table summarizes the carrying value of surplus notes issued by the Company to NFS, as of the dates indicated:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(in millions)* | | | | | | | |
| Date issued | Interest<br>rate | Par value | Carrying<br>value | Interest and/<br>or principal<br>paid in<br>current year | Total interest<br>and/ or<br>principal paid | Unapproved<br>interest and/or<br>principal | Date of<br>maturity |
|  December 31, 2024 |  |  |  |  |  |  |  |
|  12/19/2001 | 7.50% | $300 | $300 | $23 | $518 | $- | 12/31/2031 |
|  6/27/2002 | 8.15% | 300 | 300 | 24 | 545 |  | 6/27/2032 |
|  12/23/2003 | 6.75% | 100 | 100 | 7 | 139 |  | 12/23/2033 |
|  12/20/2019 | 4.21% | 400 | 400 | 17 | 84 | - | 12/19/2059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | $1100 | $1100 | $71 | $1286 | $- |  |
|  December 31, 2023<br> 12/19/2001 | 7.50% | $300 | $300 | $23 | $495 | $- | 12/31/2031 |
|  6/27/2002 | 8.15% | 300 | 300 | 24 | 521 |  | 6/27/2032 |
|  12/23/2003 | 6.75% | 100 | 100 | 7 | 132 |  | 12/23/2033 |
|  12/20/2019 | 4.21% | 400 | 400 | 16 | 67 | - | 12/19/2059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | $1100 | $1100 | $70 | $1215 | $- |  |

---

The surplus notes were issued in accordance with Section 3901.72 of the Ohio Revised Code. The principal and interest on these surplus notes shall not be a liability or claim against NLIC, or any of its assets, except as provided in Section 3901.72 of the Ohio Revised Code. The Department must approve interest and principal payments before they are paid.

**(11)** **Reinsurance** 

The Company has 100% coinsurance agreements with funds withheld with Eagle to cede specified GMDB and GLWB obligations provided under substantially all of the variable annuity contracts and certain fixed indexed annuity contracts issued and to be issued by NLIC. While the GMDB and GLWB contract riders are ceded by NLIC to Eagle, the base annuity contracts and any non-reinsured risks will be retained by NLIC. Amounts ceded to Eagle during 2024, 2023 and 2022 included premiums of $643 million, $635 million and $637 million, respectively, benefits and claims, net of third-party reinsurance recoveries, of $23 million, $73 million, and $75 million respectively, net investment earnings on funds withheld assets of $43 million, $55 million and $52 million, respectively, and an expense allowance for third-party reinsurance premiums of $1 million, $1 million and $2 million, respectively. As of December 31, 2024 and 2023, the carrying value of the funds withheld assets recorded within funds held under coinsurance was $1.2 billion and $1.3 billion, respectively, which consists of bonds and cash equivalents that had a carrying value of $1.1 billion and $1.2 billion, respectively, and mortgage loans that had a carrying value of $70 million and $73 million, respectively. As of December 31, 2024 and 2023, the Company's reserve credit for guaranteed benefits ceded under the reinsurance agreements was $46 million and $91 million, respectively. Amounts payable to Eagle related to the reinsurance agreements were $116 million and $377 million as of December 31, 2024 and 2023, respectively.

The Company has a reinsurance agreement with NMIC whereby nearly all of the Company's accident and health business not ceded to unaffiliated reinsurers is ceded to NMIC on a modified coinsurance basis. Either party may terminate the agreement on January 1 of any year with prior notice. Under a modified coinsurance agreement, the ceding company retains invested assets, and investment earnings are paid to the reinsurer. Under the terms of the Company's agreement, the investment risk associated with changes in interest rates is borne by the reinsurer. Risk of asset default is retained by the Company, although a fee is paid to the Company for the retention of such risk. The ceding of risk does not discharge the Company, as the original insurer, from its primary obligation to the policyholder. Amounts ceded to NMIC include revenues of $354 million, $307 million and $287 million for the years ended December 31, 2024, 2023 and 2022, respectively, while benefits, claims and expenses ceded were $341 million, $301 million and $267 million, respectively.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The Company has an intercompany reinsurance agreement with NLAIC whereby certain inforce and subsequently issued fixed individual deferred annuity contracts are assumed on a modified coinsurance basis. Under modified coinsurance agreements, the ceding company retains invested assets and investment earnings are paid to the reinsurer. Under terms of the agreement, the Company bears the investment risk associated with changes in interest rates. Risk of asset default remains with NLAIC, and the Company pays a fee to NLAIC for the retention of such risk. The agreement will remain inforce until all contract obligations are settled. The ceding of risk does not discharge the original insurer from its primary obligation to the contractholder. Amounts assumed from NLAIC are included in the Company's statutory statements of operations for 2024, 2023 and 2022 and include considerations of $4 million, $46 million and $10 million, respectively, net investment income of $25 million, $31 million and $35 million, respectively, and benefits, claims and other expenses of $145 million, $186 million and $161 million, respectively. The reserve adjustment for 2024, 2023 and 2022 of $(143) million, $(153) million and $(161) million, respectively, represents changes in reserves related to this fixed block of business, offset by investment earnings on the underlying assets. Policy reserves under this agreement totaled $619 million and $737 million as of 2024 and 2023, respectively, and amounts payable related to this agreement were $2 million and $6 million as of December 31, 2024 and 2023, respectively.

The Company has an intercompany reinsurance agreement with NLAIC whereby certain variable universal life insurance, whole life insurance and universal life insurance policies are assumed on a modified coinsurance basis. Total policy reserves under this treaty were $34 million as of December 31, 2024 and 2023. Total premiums assumed under this treaty were $11 million, $12 million and $12 million during 2024, 2023 and 2022, respectively.

The Company has an intercompany reinsurance agreement with NLAIC whereby a certain life insurance contract is assumed on a 100% coinsurance basis. Policy reserves assumed under this agreement totaled $154 million as of December 31, 2024 and 2023.

The Company has entered into reinsurance contracts to cede a portion of its individual annuity and life insurance business to unaffiliated reinsurers. Total reserve credits taken as of December 31, 2024 and 2023 were $252 million and $278 million, respectively. The ceding of risk does not relieve the Company, as the original insurer, from its primary obligation to the policyholder.

**(12)** **Transactions with Affiliates** 

The Company has entered into significant, recurring transactions and agreements with NMIC, and other affiliates and subsidiaries as a part of its ongoing operations. These include, but are not limited to, annuity and life insurance contracts, and agreements related to reinsurance, cost sharing, tax sharing, administrative services, marketing, intercompany loans, intercompany repurchases, cash management services and software licensing. In addition, several benefit plans sponsored by NMIC are available to Nationwide employees, for which the Company has no legal obligations. Measures used to determine the allocation among companies includes individual employee estimates of time spent, special cost studies, the number of full-time employees and other methods agreed to by the participating companies in conformity with NAIC statutory accounting principles. In addition, the Company may underwrite insurance policies for its officers, directors, and/or other personnel providing services to the Company. The Company may offer discounts on certain products that are subject to applicable state insurance laws and approvals.

Affiliate receivables and payables are the result of cost sharing and intercompany service agreements between the Company and its affiliates in which settlement has not yet occurred. Affiliate receivables are presented net of affiliate payables when the Company has the right to offset. The net amounts due from affiliates were $41 million and $19 million as of December 31, 2024 and 2023, respectively, and are included in other assets in the Company's statutory statements of admitted assets, liabilities, capital and surplus. The net amounts due to affiliates were $56 million and $133 million as of December 31, 2024 and 2023, respectively, and are included in other liabilities in the Company's statutory statements of admitted assets, liabilities, capital and surplus. These arrangements are subject to written agreements which require that intercompany balances be settled within a certain time period, generally 30 to 60 days.

The Company and various affiliates share a home office, other facilities, equipment, common management and administrative services. In addition, NMIC provided data processing, systems development, hardware and software support, telephone, mail and other services to the Company, based on specified rates for units of service consumed pursuant to the enterprise cost sharing agreement. The Company was allocated costs from NMIC totaling $276 million, $245 million, and $285 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The Company has issued group annuity and life insurance contracts and performs administrative services for various employee benefit plans sponsored by NMIC or its affiliates. Total account values of these contracts were $3.3 billion and

$3.4 billion as of December 31, 2024 and 2023, respectively. Total revenues from these contracts were $117 million, $125 million and $127 million for the years ended December 31, 2024, 2023 and 2022, respectively, and include policy charges, net investment income from investments backing the contracts and administrative fees. Total interest credited to the account balances were $76 million, $84 million and $87 million for the years ended December 31, 2024, 2023 and 2022, respectively.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The Company receives an annual fee payable from the Tax Credit Funds, for which it is a guarantor and Managing Member, for its services in connection with the oversight of the performance of the Investee Partnerships and the compliance by their managing members and managing agents thereof with the provisions of the various operating level agreements and applicable laws. The amount the Company earned for the years ended December 31, 2024, 2023 and 2022 were immaterial.

Funds of Nationwide Variable Insurance Trust Funds ("NVITF"), a group of Nationwide businesses that develops, sells and services mutual funds, are offered to the Company's customers as investment options in certain of the Company's products. As of December 31, 2024 and 2023, customer allocations to NVITF totaled $65.4 billion and $63.9 billion, respectively. For the years ended December 31, 2024, 2023 and 2022, NVITF paid the Company $246 million, $234 million and $242 million, respectively, for the distribution and servicing of these funds.

Amounts on deposit with NCMC for the benefit of the Company were $1.0 billion and $1.3 billion as of December 31, 2024 and 2023, respectively. As of December 31, 2024 and 2023, amounts on deposit with NCMC were comprised of $938 million and $1.0 billion, respectively, of cash and cash equivalents, with remaining amounts in short-term investments.

Certain annuity products are sold through affiliated companies, which are also subsidiaries of NFS. Total commissions and fees paid to these affiliates for the years ended December 31, 2024, 2023 and 2022 were $53 million, $63 million and $112 million, respectively.

The Company provides commercial mortgage loans to subsidiaries of Nationwide Realty Investors, LTD, a subsidiary of NMIC, with interest rates ranging from 3.62% to 4.90% and maturity dates ranging from January 2031 to July 2041. As of December 31, 2024 and 2023, the Company had $286 million and $304 million, respectively, outstanding under these arrangements.

The Company also participates in intercompany repurchase agreements with affiliates whereby the seller transfers securities to the buyer at a stated value. Upon demand or after a stated period, the seller repurchases the securities from the buyer at the original sales price plus interest. As of December 31, 2024 and 2023, the Company had no outstanding borrowings from affiliated entities under such agreements. The amounts the Company incurred for interest expense on intercompany repurchase agreements during 2024, 2023 and 2022 were immaterial.

During 2024 and 2023, the Company received capital contributions of $100 million and $135 million, respectively, from NFS. During 2025, the Company received an additional capital contribution of $25 million from NFS as of the subsequent event date.

During 2024, the Company paid capital contributions to NLAIC of $400 million. During 2023, there were no capital contributions paid to NLAIC by the Company. During 2025, the Company paid capital contributions to NLAIC of $100 million as of the subsequent event date.

The Company has a replacement unsecured promissory note and revolving line of credit agreement with JNLNY whereby JNLNY can borrow up to $5 million. No amounts have been drawn on the note as of December 31, 2024 and 2023, or through the subsequent event date.

Pursuant to financial support agreements, the Company has agreed to provide NLAIC and JNL with the minimum capital and surplus required by each state in which NLAIC and JNL does business. These agreements do not constitute the Company as guarantor of any obligation or indebtedness of NLAIC or JNL or provide any creditor of NLAIC or JNL with recourse to or against any of the assets of the Company.

Eagle's surplus position is evaluated quarterly to determine if an additional surplus contribution is required from the Company or if a distribution to the Company can be declared as of each quarter end. During 2023, the Company made surplus contributions to Eagle. On September 29, 2023, the Company made a surplus contribution to Eagle of $10 million. During 2024 and 2023 Eagle declared distributions to the Company based on their earned surplus position. On February 11, 2025, the Company received a dividend distribution of $107 million that was declared on December 31, 2024. The dividend receivable was recorded in investment income due and accrued as of December 31, 2024. On November 8, 2024, the Company received a dividend distribution of $81 million that was declared on September 30, 2024. On August 9, 2024, the Company received a dividend distribution of $131 million that was declared on June 28, 2024. On May 10, 2024, the Company received a dividend distribution of $365 million that was declared on March 29, 2024. On February 9, 2024, the Company received a total distribution of $421 million that was declared on December 29, 2023 and consisted of a return of contributed surplus of $10 million and a dividend of $411 million. The return of contributed surplus receivable was recorded in other invested assets and the dividend receivable was recorded in investment income due and accrued as of December 31, 2023. On August 10, 2023, the Company received a dividend distribution of $205 million that was declared on June 30, 2023. On May 9, 2023, the Company received a dividend distribution of $204 million that was declared on March 31, 2023. On February 10, 2023, the Company received a total distribution of $332 million that was declared on December 30, 2022 and consisted of a return of contributed surplus of $221 million and a dividend of $111 million.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

The Company and NWSBL have entered into a $850 million unsecured promissory note and revolving line of credit agreement whereby NWSBL can borrow up to $850 million from the Company for up to 364 days after the date of the agreement with the outstanding balance being reported in short-term investments on the statutory statements of admitted assets, liabilities, capital and surplus. As of December 31, 2023, NWSBL had an outstanding borrowing of $328 million. During 2024, additional draws increased the outstanding balance to $363 million when, on February 28, 2024, the outstanding balance was repaid and a $850 million replacement agreement was entered into with a draw amount of $363 million at an interest rate of 1-month SOFR plus 0.90% and a maturity date of February 27, 2025. As of December 31, 2024, NWSBL had an outstanding balance of $706 million. During 2025, additional draws increased the outstanding balance to $731 million when, on February 27, 2025, the outstanding balance was repaid and a $850 million replacement agreement was entered into with a draw amount of $746 million at an interest rate of 1-month SOFR plus 0.9% and a maturity date of February 26, 2026. The outstanding balance on this note is $771 million as of the subsequent event date.

The Company utilizes the look-through approach in valuing its investment in Nationwide Real Estate Investors (NLIC), LLC ("NW REI (NLIC)"), a subsidiary of NMIC, at $325 million and $251 million as of December 31, 2024 and 2023, respectively. NW REI (NLIC)'s financial statements are not audited and the Company has limited the value of its investment in NW REI (NLIC) to the value contained in the audited financial statements of the underlying investments. All liabilities, commitments, contingencies, guarantees or obligations of the NW REI (NLIC), which are required under applicable accounting guidance, are reflected in the Company's determination of the carrying value of the investment in NW REI (NLIC), if not already recorded in the financial statements of NW REI (NLIC).

NMIC sponsors multiple benefit plans for its current and former employees including two qualified defined benefit pension plans, the Nationwide Retirement Plan – Account Balance and the Nationwide Retirement Plan – Final Average Pay, collectively the "Pension Plans". On December 10, 2024, the Pension Plans purchased group annuity contracts that transferred certain obligations to the Company and NLAIC. The impact of this transaction was immaterial to net income and capital and surplus.

**(13)** **Contingencies** 

***Legal and Regulatory Matters***

The Company is subject to legal and regulatory proceedings in the ordinary course of its business. These include proceedings specific to the Company and proceedings generally applicable to business practices in the industries in which the Company operates. The outcomes of these proceedings cannot be predicted due to their complexity, scope, and many uncertainties. The Company believes, however, that based on currently known information, the ultimate outcome of all pending legal and regulatory proceedings is not likely to have a material adverse effect on the Company's financial condition.

The various businesses conducted by the Company are subject to oversight by numerous federal and state regulatory entities, including but not limited to the Securities and Exchange Commission, the Financial Industry Regulatory Authority, the Department of Labor, the IRS, the Office of the Comptroller of the Currency and state insurance authorities. Such regulatory entities may, in the normal course of business, be engaged in general or targeted inquiries, examinations and investigations of the Company and/or its affiliates. With respect to all such scrutiny directed at the Company or its affiliates, the Company is cooperating with regulators.

***Guarantees***

In accordance with SSAP No. 5R, Liabilities, Contingencies and Impairments of Assets, for all guarantees made to or on behalf of wholly-owned subsidiaries, no initial liability recognition has been made and there is no net financial statement impact related to these guarantees.

The contractual obligations under NLAIC's single premium deferred annuity ("SPDA") contracts in force and issued before September 1, 1988 are guaranteed by the Company. Total SPDA contracts affected by this guarantee in force were immaterial as of December 31, 2024 and 2023.

The Company has guaranteed the obligations and liabilities of NISC, including, without limitation, the full and prompt payment of all accounts payable to any party now or in the future. If for any reason NISC fails to satisfy any of its obligations, the Company will cause such obligation, loss or liability to be fully satisfied.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Notes to December 31, 2024, 2023 and 2022 Statutory Financial Statements** 

***Indemnifications***

In the normal course of business, the Company provides standard indemnifications to contractual counterparties. The types of indemnifications typically provided include breaches of representations and warranties, taxes and certain other liabilities, such as third-party lawsuits. The indemnification clauses are often standard contractual terms and are entered into in the normal course of business based on an assessment that the risk of loss would be remote. The terms of the indemnifications vary in duration and nature. In many cases, the maximum obligation is not explicitly stated, and the contingencies triggering the obligation to indemnify have not occurred and are not expected to occur. Consequently, the amount of the obligation under such indemnifications is not determinable. Historically, the Company has not made any material payments pursuant to these obligations.

**(14)** **Regulatory Risk-Based Capital, Dividend Restrictions and Unassigned Surplus** 

The NAIC RBC model law requires every insurer to calculate its total adjusted capital and RBC requirement to ensure insurer solvency. Regulatory guidelines provide for an insurance commissioner to intervene if the insurer experiences financial difficulty, as evidenced by a company's total adjusted capital falling below established relationships to required RBC. The model includes components for asset risk, liability risk, interest rate exposure and other factors. The State of Ohio, where the Company is domiciled, imposes minimum RBC requirements that are developed by the NAIC. The formulas in the model for determining the amount of RBC specify various weighting factors that are applied to financial balances or various levels of activity based on the perceived degree of risk. Regulatory compliance is determined by a ratio of total adjusted capital to authorized control level RBC, as defined by the NAIC. Companies below specific trigger points or ratios are classified within certain levels, all of which require specified corrective action. The Company exceeded the minimum RBC requirements for all periods presented.

The State of Ohio insurance laws require insurers to seek prior regulatory approval to pay a dividend or distribution of cash or other property if the fair market value thereof, together with that of other dividends or distributions made in the preceding twelve months, exceeds the greater of (i) 10% of surplus as regards policyholders as of the prior December 31 or (ii) the net income of the insurer as of the prior year. No dividends were paid by the Company to NFS for the years ended December 31, 2024 and 2023. The Company's surplus as regards policyholders as of December 31, 2024, was $12.5 billion and statutory net income for 2024 was $1.2 billion. As of January 1, 2025, the Company has the ability to pay dividends to NFS totaling $1.3 billion without obtaining prior approval.

The State of Ohio insurance laws also require insurers to seek prior regulatory approval for any dividend or distribution paid from other than earned surplus. Earned surplus is defined under the State of Ohio insurance laws as the amount equal to the Company's unassigned funds as set forth in its most recent statutory financial statements, including net unrealized capital gains and losses or revaluation of assets. Additionally, following any dividend, an insurer's policyholder surplus must be reasonable in relation to the insurer's outstanding liabilities and adequate for its financial needs. The payment of dividends by the Company may also be subject to restrictions set forth in the insurance laws of the State of New York that limit the amount of statutory profits on the Company's participating policies (measured before dividends to policyholders) available for the benefit of the Company and its stockholder.

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Schedule I Summary of Investments – Other Than Investments in Related Parties** 

As of December 31, 2024:

---

| | | | | |
|:---|:---|:---|:---|:---|
| (in millions) | Column A | Column B | Column C | Column D |
|  | Type of investment | Cost | Fair value | Amount at which is<br>shown in the statutory<br>statements of admitted<br>assets, liabilities, capital<br>and surplus |
|  Bonds: | Bonds: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury securities and obligations of U.S. government corporations | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury securities and obligations of U.S. government corporations | $65 | $64 | $65 |
| &nbsp;&nbsp;&nbsp;&nbsp; U.S. government and agencies | &nbsp;&nbsp;&nbsp;&nbsp; U.S. government and agencies | 76 | 76 | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp; Obligations of states and political subdivisions | &nbsp;&nbsp;&nbsp;&nbsp; Obligations of states and political subdivisions | 3423 | 3091 | 3423 |
| &nbsp;&nbsp;&nbsp;&nbsp; Foreign governments | &nbsp;&nbsp;&nbsp;&nbsp; Foreign governments | 519 | 474 | 519 |
| &nbsp;&nbsp;&nbsp;&nbsp; Public utilities | &nbsp;&nbsp;&nbsp;&nbsp; Public utilities | 5008 | 4584 | 4972 |
| &nbsp;&nbsp;&nbsp;&nbsp; All other corporate, mortgage-backed and asset-backed securities | &nbsp;&nbsp;&nbsp;&nbsp; All other corporate, mortgage-backed and asset-backed securities | 36880 | 34632 | 36743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total fixed maturity securities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total fixed maturity securities** | $45971 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42921 | $45798 |
|  Equity securities: | Equity securities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Common Stocks: | &nbsp;&nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banks, trust and insurance companies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Banks, trust and insurance companies | 26 | 39 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial, miscellaneous and all other | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial, miscellaneous and all other | 183 | 182 | 182 |
| &nbsp;&nbsp;&nbsp;&nbsp; Nonredeemable preferred stocks | &nbsp;&nbsp;&nbsp;&nbsp; Nonredeemable preferred stocks | 38 | 42 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total equity securities<sup>1</sup>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total equity securities<sup>1</sup>**  | $247 | $263 | $263 |
|  Mortgage loans | Mortgage loans | 9619 |  | 9619 |
|  Cash, cash equivalents and short-term investments | Cash, cash equivalents and short-term investments | 1687 |  | 1687 |
|  Policy loans | Policy loans | 1039 |  | 1038 |
|  Other long-term investments<sup>2</sup>  | Other long-term investments<sup>2</sup>  | 2821 |  | 2821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total invested assets** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total invested assets** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61384 |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61226 |

---

---

| | |
|:---|:---|
| 1 | Amount does not agree to the statutory statements of admitted assets, liabilities, capital and surplus as investments in related parties of $3.7 billion are excluded.  |

---

---

| | |
|:---|:---|
| 2 | Includes derivatives, securities lending reinvested collateral assets and other invested assets. Amount does not agree to the statutory statements of admitted assets, liabilities, capital and surplus as investments in related parties of $396 million are excluded.  |

---

*See accompanying notes to statutory financial statements and report of independent registered public accounting firm.* 

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Schedule III Supplementary Insurance Information** 

As of December 31, 2024, 2023 and 2022 and for each of the years then ended (in millions):

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Column A | Column B | Column C | Column D | Column E | Column F |
| Year: Segment | Deferred policy<br>acquisition<br>costs<sup>1</sup> | Future policy benefits,<br>losses, claims and<br> loss expenses | Unearned<br>premiums<sup>2</sup> | Other policy claims<br>and benefits<br>payable<sup>2</sup> | Premium<br>revenue |
| 2024 |  |  |  |  |  |
|  Annuities |  | $18942 |  |  | $8677 |
|  Retirement Solutions |  | 18911 |  |  | 3498 |
|  Life Insurance |  | 5532 |  |  | 411 |
|  Corporate Solutions and Other |  | 8408 |  |  | 3816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | $51793 |  |  | $16402 |
| 2023 |  |  |  |  |  |
|  Annuities |  | $15213 |  |  | $7368 |
|  Retirement Solutions |  | 20351 |  |  | 4150 |
|  Life Insurance |  | 5428 |  |  | 412 |
|  Corporate Solutions and Other |  | 8381 |  |  | 2740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | $49373 |  |  | $14670 |
| 2022 |  |  |  |  |  |
|  Annuities |  | $10635 |  |  | $5758 |
|  Retirement Solutions |  | 21824 |  |  | 5097 |
|  Life Insurance |  | 5353 |  |  | 415 |
|  Corporate Solutions and Other |  | 7670 |  |  | 3265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** |  | $45482 |  |  | $14535 |
| Column A | Column G | Column H | Column I | Column J | Column K |
| Year: Segment | Net investment<br>income<sup>3</sup> | Benefits, claims,<br>losses and settlement<br>expenses<sup>4</sup> | Amortization of<br>deferred policy<br>acquisition costs<sup>1</sup> | Other operating<br>expenses | Premiums<br>written |
| 2024 |  |  |  |  |  |
|  Annuities | $882 | $15954 |  | $184 |  |
|  Retirement Solutions | 788 | 5398 |  | 244 |  |
|  Life Insurance | 285 | 866 |  | 105 |  |
|  Corporate Solutions and Other | 1374 | 1430 |  | 204 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** | $3329 | $23648 |  | $737 |  |
| 2023 |  |  |  |  |  |
|  Annuities | $613 | $13619 |  | $158 |  |
|  Retirement Solutions | 835 | 5610 |  | 214 |  |
|  Life Insurance | 276 | 757 |  | 101 |  |
|  Corporate Solutions and Other | 1412 | 1943 |  | 203 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** | $3136 | $21929 |  | $676 |  |
| 2022 |  |  |  |  |  |
|  Annuities | $346 | $10871 |  | $136 |  |
|  Retirement Solutions | 860 | 6178 |  | 120 |  |
|  Life Insurance | 261 | 730 |  | 105 |  |
|  Corporate Solutions and Other | 552 | 1519 |  | 174 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** | $2019 | $19298 |  | $535 |  |

---

1 Deferred policy acquisition costs and amortization of deferred policy acquisition costs are not applicable for statutory basis of accounting.

---

| | |
|:---|:---|
| 2 | Unearned premiums and other policy claims and benefits payable are included in Column C amounts.  |

---

3 Allocations of net investment income and certain operating expenses are based on numerous assumptions and estimates and reported segment operating results would change if different methods were applied.

---

| | |
|:---|:---|
| 4 | Benefits to policyholders and beneficiaries, increase in reserves for future policy benefits and claims and commissions are included in Column H amounts.  |

---

*See accompanying notes to statutory financial statements and report of independent registered public accounting firm.* 

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Schedule IV Reinsurance** 

As of December 31, 2024, 2023 and 2022 and each of the years then ended:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in millions)* | | | | |
| Column A | Column B | Column C | Column D | Column E |
|  | Gross<br>amount | Ceded to<br>other<br>companies | Assumed<br>from other<br>companies | Net<br>amount |
| 2024 |  |  |  |  |
|  Life insurance in force | $153575 | $(24712) | $557 | $129420 |
|  Premiums: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Insurance | $3977 | $(140) | $11 | $3848 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accident and health insurance | 531 | (540) | 9 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** | $4508 | $(680) | $20 | $3848 |
| 2023 |  |  |  |  |
|  Life insurance in force | $147725 | $(26722) | $579 | $121582 |
|  Premiums: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Insurance | $2931 | $(143) | $12 | $2800 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accident and health insurance | 457 | (465) | 9 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** | $3388 | $(608) | $21 | $2800 |
| 2022 |  |  |  |  |
|  Life insurance in force | $145173 | $(29598) | $605 | $116180 |
|  Premiums: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Life Insurance | $3473 | $(144) | $12 | $3341 |
| &nbsp;&nbsp;&nbsp;&nbsp; Accident and health insurance | 425 | (424) | - | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total** | $3898 | $(568) | $12 | $3342 |

---

*See accompanying notes to statutory financial statements and report of independent registered public accounting firm.* 

------

**NATIONWIDE LIFE INSURANCE COMPANY** 

**(a wholly owned subsidiary of Nationwide Financial Services, Inc.)** 

**Schedule V Valuation and Qualifying Accounts** 

Years ended December 31, 2024, 2023 and 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| *(in millions)* | | | | |
| Column A | Column B | Column C | Column D | Column E |
|  | Balance at | Charged to |  | Balance at |
|  | beginning | costs and |  | end of |
| Description | of period | expenses | Deductions<sup>1</sup> | period |
| 2024 |  |  |  |  |
|  Valuation allowances - mortgage loans | $2 | $- | $(2) | $- |
| 2023 |  |  |  |  |
|  Valuation allowances - mortgage loans<sup>2</sup>  | $1 | $1 | $- | $2 |
| 2022 |  |  |  |  |
|  Valuation allowances - mortgage loans | $43 | $(5) | $- | $38 |

---

---

| | |
|:---|:---|
| 1 | Amounts generally represent recoveries, payoffs and sales.  |

---

2 Effective January 1, 2023, the Company changed its method for reserving for mortgage loans. Refer to Note 5 for further discussion and the resulting impacts of the change.

*See accompanying notes to statutory financial statements and report of independent registered public accounting firm.* 

------

**PART C. OTHER INFORMATION**

**Item 27. Exhibits**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a)

Resolutions of the Board of Directors

1)

[<u>Resolution of Board of Directors of Jefferson National Life Insurance Company of New York authorizing the</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d1a.htm)[<u>establishment of the Separate Account – Filed previously with initial registration statement (333-198590) on</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d1a.htm)[<u>September 5, 2014 and hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d1a.htm)

2)

[Resolution of Board of Directors of Jefferson National Life Insurance Company of New York changing the](d138721dex9927a2.htm)[name of the Separate Account from "Jefferson National Life of New York Annuity Account 1" to "Nationwide](d138721dex9927a2.htm)[Jefferson National VA Separate Account 1" – Attached hereto.](d138721dex9927a2.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b)

Not Applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c)

Underwriting or Distribution Contracts.

1)

[<u>Amended and Restated Distribution Agreement dated November 1, 2022 between Nationwide Life</u>](https://www.sec.gov/Archives/edgar/data/1005336/000119312522274844/d411880dex99c4.htm)[<u>Insurance Company, Nationwide Life and Annuity Insurance Company,Jefferson National Life Insurance</u>](https://www.sec.gov/Archives/edgar/data/1005336/000119312522274844/d411880dex99c4.htm)[<u>Company, and Nationwide Investment Services Corporation – Filed previously with Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/1005336/000119312522274844/d411880dex99c4.htm)[<u>Amendment No. 29 on November 1, 2022 (333-124048) and hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1005336/000119312522274844/d411880dex99c4.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d)

Variable Annuity Contracts.

1)

[<u>Form of Policy Form - Filed previously with initial registration statement (333-198590) on September 5, 2014</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d2a.htm)[<u>and hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d2a.htm)

2)

[<u>Form of IRA Endorsement - Filed previously with initial registration statement (333-198590) on September</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d4a.htm)[<u>5, 2014 and hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d4a.htm)

3)

[<u>Form of Roth IRA Endorsement - Filed previously with initial registration statement (333-198590) on</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d4b.htm)[<u>September 5, 2014 and hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465914064956/a14-20426_1ex99d4b.htm)

4)

[Form of Merger Endorsement – Attached hereto.](d138721dex9927d4.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e)

Applications.

1)

[<u>Form of Annuity Application - Filed previously with Post-Effective Amendment No. 3 on April 28, 2017 (333-</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465917027445/a17-11058_1ex99d3b.htm)[<u>198590) and hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1618629/000110465917027445/a17-11058_1ex99d3b.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f)

Depositor's Certificates of Incorporation and By-Laws.

1)

[<u>Amended Articles of Incorporation for Nationwide Life Insurance Company. Filed previously with initial</u>](https://www.sec.gov/Archives/edgar/data/904817/000119090309001829/exhibit6a.htm)[<u>registration statement (333-164125) on January 4, 2010 as document "exhibit6a.htm" and hereby</u>](https://www.sec.gov/Archives/edgar/data/904817/000119090309001829/exhibit6a.htm)[<u>incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/904817/000119090309001829/exhibit6a.htm)

2)

[<u>Amended and Restated Code of Regulations of Nationwide Life Insurance Company. Filed previously with</u>](https://www.sec.gov/Archives/edgar/data/904817/000119090309001829/exhibit6b.htm)[<u>initial registration statement (333-164125) on January 4, 2010 as document "exhibit6b.htm" and hereby</u>](https://www.sec.gov/Archives/edgar/data/904817/000119090309001829/exhibit6b.htm)[<u>incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/904817/000119090309001829/exhibit6b.htm)

3)

[Plan and Agreement of Merger of Jefferson National Life Insurance Company of New York with and into](d138721dex9927f3.htm)[Nationwide Life Insurance Company effective July 1, 2025 – Attached hereto.](d138721dex9927f3.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;g)

Not Applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;h)

Participation Agreements.

Unless indicated as attached hereto, the following participation agreements were previously filed and are hereby incorporated by reference.

1)

[<u>Fund Participation Agreement with Advisors Preferred Trust and Ceros Financial Services, Inc., dated June</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119312521207358/d184214dex9930h.htm)[<u>17, 2021 with registration statement under 333-253123, pre-effective amendment 1 filed on July 2, 2021 as</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119312521207358/d184214dex9930h.htm)[<u>document d184214dex9930h.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119312521207358/d184214dex9930h.htm)

2)

[<u>Fund Participation Agreement with Fred Alger Management, Inc., Fred Alger & Company, Incorporated</u>](https://www.sec.gov/Archives/edgar/data/740269/000119090311000372/algeramericanpfa.htm)[<u>dated October 1, 2004 with the registration statement under 333-164118, post-effective amendment number</u>](https://www.sec.gov/Archives/edgar/data/740269/000119090311000372/algeramericanpfa.htm)[<u>3 filed on April 26, 2011 as document algeramericanpfa.htm</u>](https://www.sec.gov/Archives/edgar/data/740269/000119090311000372/algeramericanpfa.htm)

------

3)

[<u>Fund Participation Agreement (Amended and Restated) with Alliance Capital Management L.P. and Alliance</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/alliancebernsteinfpa.htm)[<u>Bernstein Investment Research and Management, Inc. dated June 1, 2003 with the registration statement</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/alliancebernsteinfpa.htm)[<u>under 333-137202, pre-effective amendment number 3 filed on September 27, 2007 as document</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/alliancebernsteinfpa.htm)[<u>alliancebernsteinfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/alliancebernsteinfpa.htm)

4)

[<u>Fund Participation Agreement with Wells Fargo Management, LLC, and Stephens, Inc., as amended, dated</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/wellsfargofpa.htm)[<u>November 15, 2004 with the registration statement under 333-137202, pre-effective amendment number 3</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/wellsfargofpa.htm)[<u>filed on September 27, 2007 as document wellsfargofpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/wellsfargofpa.htm)

5)

[<u>Fund Participation Agreement with ALPS Variable Investment Trust and ALPS Portfolio Solutions Distributor,</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312513399825/d612202dex99826.htm)[<u>Inc. dated October 10, 2013 with the registration statement under 333-135650, post-effective amendment</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312513399825/d612202dex99826.htm)[<u>number 12 filed on October 15, 2013 as document d612202dex99826.htm</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312513399825/d612202dex99826.htm)

6)

[<u>Fund Participation Agreement with American Funds Insurance Series and Capital Research and</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/americanfundsfpa.htm)[<u>Management Company dated July 20, 2005 with the registration statement under 333-137202, pre-effective</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/americanfundsfpa.htm)[<u>amendment number 3 filed on September 27, 2007 as document americanfundsfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/americanfundsfpa.htm)

7)

[<u>Fund Participation Agreement with BlackRock (formerly FAM Distributors, Inc. and FAM Variable Series</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/blackrockfpa.htm)[<u>Funds, Inc.), as amended, dated April 13, 2004 with the registration statement under 333-137202, pre-</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/blackrockfpa.htm)[<u>effective amendment number 3 filed on September 27, 2007 as document blackrockfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/blackrockfpa.htm)

8)

[<u>Participation Agreement among Nationwide Financial Services, Inc., Calvert Variable Products, Inc., and</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312524111482/d777109dex99h8.htm)[<u>Eaton Vance Distributors, Inc., as amended, dated January 1, 2017 the registration statement under 333-</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312524111482/d777109dex99h8.htm)[<u>177439, post-effective amendment number 42 filed on April 25, 2024 as document d777109dex99h8.htm.</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312524111482/d777109dex99h8.htm)[Portions of this exhibit have been redacted.](d138721dex9927h10.htm)

9)

[<u>Fund Participation Agreement with Columbia Management Investment Advisers, LLC and Columbia</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312517122065/d324999dex9926h.htm)[<u>Management Investment Distributors, Inc. dated December 7, 2015 with the registration statement under</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312517122065/d324999dex9926h.htm)[<u>333-103095, post-effective amendment number 39 filed on April 13, 2017 as document columbiafpa.htm</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312517122065/d324999dex9926h.htm)

10)

[Fund Participation Agreement with Credit Suisse Securities (U.S.A.), LLC, dated December 20, 2022 –](d138721dex9927h10.htm)[Attached hereto. Portions of this exhibit have been redacted.](d138721dex9927h10.htm)

11)

[<u>Fund Participation Agreement with Delaware Management Company and Delaware Distributors, L.P., as</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/delawarefpa.htm)[<u>amended, dated February 5, 2008 with the registration statement under 333-43671, post-effective</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/delawarefpa.htm)[<u>amendment number 43 filed on April 12, 2011 as document delawarefpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/delawarefpa.htm)

12)

[<u>Fund Participation Agreement with DFA Investment Dimensions Group Inc., Dimensional Fund Advisors LP;</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090312000470/dfafpa.htm)[<u>and DFS Securities LLC., dated February 8, 2012 with the registration statement under 333-149213, post-</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090312000470/dfafpa.htm)[<u>effective amendment number 7 filed on April 11, 2012 as document dfafpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090312000470/dfafpa.htm)

13)

[<u>Restated Administrative Services Agreement with The Dreyfus Corporation, as amended, and 12b-1 letter</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/dreyfusasa99i3.htm)[<u>agreement dated, as amended, dated June 1, 2003 with the registration statement under 333-140608, pre-</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/dreyfusasa99i3.htm)[<u>effective amendment number 1 filed on July 17, 2007 as document dreyfusasa99i3.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/dreyfusasa99i3.htm)

14)

[<u>Fund Participation Agreement with Eaton Vance Variable Trust and Eaton Vance Distributors, Inc. dated</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/eatonvancefpa.htm)[<u>March 24, 2011 with the registration statement under 333-43671, post-effective amendment number 43 filed</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/eatonvancefpa.htm)[<u>on April 12, 2011 as document eatonvancefpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/eatonvancefpa.htm)

15)

[<u>Fund Participation Agreement with Federated Insurance Series and Federated Securities Corp., as</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/fedfpa99h4.htm)[<u>amended, dated April 1, 2006 with the registration statement under 333-140608, pre-effective amendment</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/fedfpa99h4.htm)[<u>number 1 filed on July 17, 2007 as document fedfpa99h4.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/fedfpa99h4.htm)

16)

[<u>Fund Participation Agreement among (Fidelity) Variable Insurance Products Funds, Fidelity Distributors</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312524111482/d777109dex99h14.htm)[<u>Company LLC, Nationwide Life Insurance Company, Nationwide Life and Annuity Insurance Company,</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312524111482/d777109dex99h14.htm)[<u>Jefferson National Life Insurance Company, and Jefferson National Life Insurance Company of New York</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312524111482/d777109dex99h14.htm)[<u>dated October 11, 2023 with the registration statement under 333-177439, post-effective amendment</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312524111482/d777109dex99h14.htm)[<u>number 42 filed on April 25, 2024 as document d777109dex99h14.htm.</u>](https://www.sec.gov/Archives/edgar/data/356514/000119312524111482/d777109dex99h14.htm)

17)

[<u>Fund Participation Agreement with FEF Distributors, LLC, dated November 1, 2018 with the registration</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519110467/d705546dex9924b838.htm)[<u>statement under 333-227783, post-effective amendment number 1 filed on April 18, 2019 as document</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519110467/d705546dex9924b838.htm)[<u>d705546dex9924b838.htm</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519110467/d705546dex9924b838.htm)

------

18)

[<u>Amended and Restated Fund Participation Agreement with Franklin Templeton Variable Insurance Products</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/frankfpa99h8.htm)[<u>Trust and Franklin/Templeton Distributors, Inc., as amended, dated May 1, 2003 with the registration</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/frankfpa99h8.htm)[<u>statement under 333-140608, pre-effective amendment number 1 filed on July 17, 2007 as document</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/frankfpa99h8.htm)[<u>frankfpa99h8.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/frankfpa99h8.htm)

19)

[<u>Fund Participation Agreement with Oppenheimer Variable Account Funds and Oppenheimer Funds, Inc.</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/oppenfpa99h14.htm)[<u>dated April 13, 2007 with the registration statement under 333-140608, pre-effective amendment number 1</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/oppenfpa99h14.htm)[<u>filed on July 17, 2007 as document oppenfpa99h14.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/oppenfpa99h14.htm)

20)

[<u>Fund Participation Agreement, Service and Institutional Shares, with Janus Aspen Series dated December</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/janusfpa99h9a.htm)[<u>31, 1999 with the registration statement under 333-140608, pre-effective amendment number 1 filed on July</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/janusfpa99h9a.htm)[<u>17, 2007 as document janusfpa99h9a.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/janusfpa99h9a.htm)

21)

[<u>Fund Participation Agreement with John Hancock Distributors, LLC dated November 1, 2018 with the</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519038305/d676306dex9924b816.htm)[<u>registration statement under 333-227783, pre-effective amendment number 1 filed on February 13, 2019 as</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519038305/d676306dex9924b816.htm)[<u>document johnhancockfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519038305/d676306dex9924b816.htm)

22)

[<u>Fund Participation Agreement with Lazard Retirement Series, Inc., and Lazard Asset Management</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/lazardfpa.htm)[<u>Securities LLC dated April 13, 2009 with the registration statement under 333-43671, post-effective</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/lazardfpa.htm)[<u>amendment number 43 filed on April 12, 2011 as document lazardfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/lazardfpa.htm)

23)

[<u>Fund Participation Agreement with Legg Mason Investor Services, LLC (formerly, Salomon Brothers</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/leggmasonfpa.htm)[<u>Variable Series Funds Inc., Salomon Brothers Asset Management Inc.), as amended dated September</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/leggmasonfpa.htm)[<u>1999 with the registration statement 333-137202, pre-effective amendment number 3 filed on September</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/leggmasonfpa.htm)[<u>27, 2007 as document leggmasonfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/leggmasonfpa.htm)

24)

[<u>Fund Participation Agreement with Lincoln Variable Insurance Products Trust, Lincoln Financial Distributors,</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/lincolnfpa.htm)[<u>Inc., and Lincoln Investment Advisors Corporation. dated June 5, 2007 with the registration statement under</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/lincolnfpa.htm)[<u>333-137202, pre-effective amendment number 3 filed on September 27, 2007 as document lincolnfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/lincolnfpa.htm)

25)

[<u>Fund Participation Agreement with Lord Abbett Series Fund, Inc. and Lord Abbett Distributor LLC, as</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/lordabbettfpa.htm)[<u>amended, dated December 31, 2002 with the registration statement under 333-137202, pre-effective</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/lordabbettfpa.htm)[<u>amendment number 3 filed on September 27, 2007 as document lordabbettfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/lordabbettfpa.htm)

26)

[<u>Fund Participation Agreement with MainStay VP Funds Trust and New York Life Investment Management</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312516540962/d149778dex9924b31.htm)[<u>LLC dated May 1, 2016 with the registration statement 333-201820, post-effective amendment number 1</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312516540962/d149778dex9924b31.htm)[<u>filed on April 14, 2016 as document mainstayfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312516540962/d149778dex9924b31.htm)

27)

[<u>Participation Agreement Among MFS Variable Insurance Trust, MFS Variable Insurance Trust II, Nationwide</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519240641/d737458dex9924b24.htm)[<u>Financial Services, Inc., and MFS Fund Distributors, Inc., dated May 2, 2011 with the registration statement</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519240641/d737458dex9924b24.htm)[<u>under 333-227783, post-effective amendment number 3 filed on September 9, 2019 as document</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519240641/d737458dex9924b24.htm)[<u>d737458dex9924b24.htm</u>](https://www.sec.gov/Archives/edgar/data/1755596/000119312519240641/d737458dex9924b24.htm)

28)

[<u>Fund Participation Agreement with The Merger Fund VL and Westchester Capital Management, LLC dated</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312513399825/d612202dex99827.htm)[<u>October 11, 2013 with the registration statement under 333-135650, post-effective amendment number 12</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312513399825/d612202dex99827.htm)[<u>filed on October 15, 2013 as document d612202dex99827.htm</u>](https://www.sec.gov/Archives/edgar/data/843075/000119312513399825/d612202dex99827.htm)

29)

[<u>Fund Participation Agreement with Nationwide Variable Insurance Trust (formerly, Gartmore Variable</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/nwfpa99h12b.htm)[<u>Insurance Trust), American Funds Insurance Series, and Capital Research and Management Company</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/nwfpa99h12b.htm)[<u>dated May 1, 2007 with the registration statement under 333-140608, pre-effective amendment number 1</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/nwfpa99h12b.htm)[<u>filed on July 17, 2007 as document nwfpa99h12b.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/nwfpa99h12b.htm)

30)

[<u>Fund Participation Agreement with Neuberger Berman Management Inc. dated January 1, 2006 with the</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/neuberfpa99h13.htm)[<u>registration statement under 333-140608, pre-effective amendment number 1 filed on July 17, 2007 as</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/neuberfpa99h13.htm)[<u>document neuberfpa99h13.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/neuberfpa99h13.htm)

31)

[<u>Fund Participation Agreement with New Age Alpha Advisors, LLC. dated October 28, 2024 with the</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119312524232056/d895101dex99h23.htm)[<u>registration statement under 333-253123, post-effective amendment number 4 filed on October 3, 2024 as</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119312524232056/d895101dex99h23.htm)[<u>document d895101dex99h23.html</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119312524232056/d895101dex99h23.htm). Portions of this exhibit have been redacted.

32)

[<u>Fund Participation Agreement with Northern Lights Variable Trust and Northern Lights Distributors, LLC</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090312000932/northernlightsfpa.htm)[<u>dated February 8, 2012 with the registration statement under 333-62692, post-effective amendment number</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090312000932/northernlightsfpa.htm)[<u>28 filed on June 11, 2012 as document northernlightsfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090312000932/northernlightsfpa.htm)

------

33)

[<u>Fund Participation Agreement with PIMCO Variable Insurance Trust and PIMCO Funds Distributors, LLC, as</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/pimcofpa.htm)[<u>amended, dated March 28, 2002 with the registration statement under 333-137202, pre-effective</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/pimcofpa.htm)[<u>amendment number 3 filed on September 27, 2007 as document pimcofpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/pimcofpa.htm)

34)

[<u>Fund Participation Agreement with ProFunds Distributors, Inc. dated January 10, 2010 with the registration</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090311000330/profundfpa.htm)[<u>statement under 333-62692, post-effective amendment number 26 filed on April 19, 2011 as document</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090311000330/profundfpa.htm)[<u>profundfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090311000330/profundfpa.htm)

35)

[<u>Fund Participation Agreement with Putnam Variable Trust and Putnam Retail Management, L.P. dated</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/putnamfpa.htm)[<u>February 1, 2002 with the registration statement under 333-137202, pre-effective amendment number 3</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/putnamfpa.htm)[<u>filed on September 27, 2007 as document putnamfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/putnamfpa.htm)

36)

[<u>Fund Participation Agreement with Royce & Associates, as amended dated February 14, 2002 with the</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/roycefpa.htm)[<u>registration statement under 333-137202, pre-effective amendment number 3 filed on September 27, 2007</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/roycefpa.htm)[<u>as document roycefpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/roycefpa.htm)

37)

[<u>Fund Participation Agreement with Rydex Variable Trust & Rydex Distributors, Inc. dated September 10,</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090308000146/rydexfundpartagreement.htm)[<u>2001 with the registration statement under 333-62692, post-effective amendment number 20 filed on April</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090308000146/rydexfundpartagreement.htm)[<u>18, 2008 as document rydexfundpartagreement.htm</u>](https://www.sec.gov/Archives/edgar/data/843075/000119090308000146/rydexfundpartagreement.htm)

38)

[<u>Fund Participation Agreement with T. Rowe Price Equity Series, Inc., T. Rowe Price International Series,</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/trowefpa99h15.htm)[<u>Inc., T. Rowe Price Fixed Income Series, Inc., and T. Rowe Price Investment Services, Inc., as amended,</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/trowefpa99h15.htm)[<u>dated October 1, 2002 with the registration statement under 333-140608, pre-effective amendment number</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/trowefpa99h15.htm)[<u>1 filed on July 17, 2007 as document trowefpa99h15.htm</u>](https://www.sec.gov/Archives/edgar/data/1313581/000119090307000837/trowefpa99h15.htm)

39)

[<u>Fund Participation Agreement among Nationwide Financial Services, Inc., Third Avenue Variable Series</u>](https://www.sec.gov/Archives/edgar/data/1005336/000119312524111670/d796082dex99h19.htm)[<u>Trust, and Third Avenue Management LLC dated May 12, 2023 – Filed previously with Post-Effective</u>](https://www.sec.gov/Archives/edgar/data/1005336/000119312524111670/d796082dex99h19.htm)[<u>Amendment No. 32 (333-124048) on April 25, 2024 and hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1005336/000119312524111670/d796082dex99h19.htm) Portions of this exhibit have been redacted.

40)

[<u>Fund Participation Agreement with Van Eck Investment Trust, Van Eck Associates Corporation, and Van</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/vaneckfpa.htm)[<u>Eck Securities Corporation, as amended, dated September 1, 1989 with the registration statement under</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/vaneckfpa.htm)[<u>333-137202, pre-effective amendment number 3 filed on September 27, 2007 as document vaneckfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090307000950/vaneckfpa.htm)

41)

[<u>Fund Participation Agreement with Vanguard Variable Insurance Fund, The Vanguard Group, Inc.,</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/vanguardfpa.htm)[<u>Vanguard Marketing Corporation. dated February 28, 2008 with the registration statement under 333-43671,</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/vanguardfpa.htm)[<u>post-effective amendment number 43 filed on April 12, 2011 as document vanguardfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/1041357/000119090311000292/vanguardfpa.htm)

42)

[<u>Fund Participation Agreement with The Victory Variable Insurance Funds, Key Asset Management Inc., and</u>](https://www.sec.gov/Archives/edgar/data/356514/000119090311000343/victoryfpa.htm)[<u>BISYS Fund Services dated June 30, 1999 with the registration statement under 333-103094, post-effective</u>](https://www.sec.gov/Archives/edgar/data/356514/000119090311000343/victoryfpa.htm)[<u>amendment number 30 filed on April 20, 2011 as document victoryfpa.htm</u>](https://www.sec.gov/Archives/edgar/data/356514/000119090311000343/victoryfpa.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i)

Not applicable

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;j)

Not Applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;k)

[Opinion and Consent of Counsel – Attached hereto.](d138721dex9927k.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;l)

[Consent of Independent Registered Public Accounting Firm – Attached hereto.](d138721dex9927l.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;m)

Not Applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;n)

Not Applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o)

[Form of Initial Summary Prospectus – Attached hereto.](d138721dex9927o.htm)

99)

[Power of Attorney – Attached hereto.](d138721dex9999.htm)

**Item 28. Directors and Officers of the Depositor**

The business address of the Directors and Officers of the Depositor is: <br>One Nationwide Plaza, Columbus, Ohio 43215

    <br> <u> President and Chief Operating Officer and Director </u> <u> Carter, John L. </u> <br> Executive Vice President-Chief Marketing Officer Bair, Ann S.

------

---

| | |
|:---|:---|
| Executive Vice President-Chief Human Resources Officer | Clements, Vinita J.  |
| Executive Vice President-Nationwide Chief Technology Officer | Fowler, James R.  |
| Executive Vice President and Director | Frommeyer, Timothy G.  |
| Executive Vice President-Chief Legal Officer | Howard, Mark S. |
| Executive Vice President-Chief Customer, Strategy and Innovation Officer | Mahaffey, Michael W. |
| Senior Vice President-NF Strategic Customer Solutions | Ambrozy, Tina S.  |
| Senior Vice President-Strategic Planning | Amodeo, Daniel W. |
| Senior Vice President-Corporate Controller and Chief Accounting Officer | Benson, James D.  |
| Senior Vice President-Chief Economist | Bostjancic, Kathleen |
| Senior Vice President-P&C Legal | Boyer, John N. |
| Senior Vice President-Human Resources Business Partner | Bretz, Angela D.  |
| Senior Vice President-Internal Audit | Burchwell, Jason E. |
| Senior Vice President-Nationwide Pet | Carnes, Joel R.M. |
| Senior Vice President-Chief Technology Officer - Nationwide Financial | Carrel, Michael W. |
| Senior Vice President-Chief Investment Officer | Coleman, Joel L.  |
| Senior Vice President-Chief Compliance Officer | Dankovic, Rae Ann  |
| Senior Vice President-Chief Risk Officer | Diem, Klaus K. |
| Senior Vice President-External Affairs | English, Steven M. |
| Senior Vice President-Trial Division | Failor, Scott E. |
| Senior Vice President-Corporate Operations & Litigation Legal | Furniss, Natalie T. |
| Senior Vice President-Operations – Property & Casualty | Gaetano, Mark A. |
| Senior Vice President-Chief Financial Officer – Financial Services and Director | Ginnan, Steven A. |
| Senior Vice President-Chief Financial Officer – Property & Casualty | Guerrero, Oscar |
| Senior Vice President-Annuity Distribution | Guymon, Rona |
| Senior Vice President-Human Resources Business Partner | Hairston, Mia S. |
| Senior Vice President-Nationwide Annuity and Director | Hawley, Craig A.  |
| Senior Vice President-Operations – E&S/Specialty and Commercial | Henderson, Clayton R. |
| Senior Vice President-Underwriting Performance – E&S/Specialty and <br> Commercial<br>| Hespe, Julie |
| Senior Vice President-Legal - NF | Innis-Thompson, Janice |
| Senior Vice President-Management Liability & Specialty – E&S/Specialty | Iorio, Thomas Anthony |
| Senior Vice President-Marketing – Enterprise Brand Strategy & Activation | Jackson, Richard W. |
| Senior Vice President-PL Product and Underwriting | Jacobs, Sarah E. |
| Senior Vice President-Investment Management Group | Jestice, Kevin T.  |
| Senior Vice President-E&S/Specialty and Commercial Lines | Johnston, Russell Mark |
| Senior Vice President-Chief Innovation and Digital Officer | Kandhari, Chetan D.  |
| Senior Vice President-Property & Casualty Commercial Lines | Kempton, Casey Ellen |
| Senior Vice President-Chief Technology Officer – Technology Strategy, Data & <br> Innovation<br>| Kolp, Melanie A. |
| Senior Vice President-Chief Technology Officer – Corporate Technology | Kuamoo, Misty Claire |
| Senior Vice President-Business Performance – Property & Casualty | Kyung, Jennifer |
| Senior Vice President  | LaPaul, David |
| Senior Vice President-Nationwide Agribusiness | Liggett, Brad Ray |
| Senior Vice President-Programs & Alternative Risk – E&S/Specialty | Lopes, John Santos |
| Senior Vice President-Culture & Talent Acquisition | Lucas, Giavonni |
| Senior Vice President-Chief Information Security Officer | Lukens, Todd |
| Senior Vice President-Marketing Management - P&C | MacKenzie, Jennifer B. |
| Senior Vice President-Contract & Brokerage Underwriting – E&S/Specialty | Nelson, David Neil |
| Senior Vice President-Corporate Development and Finance | O'Brien, Kevin G.  |
| Senior Vice President-Corporate Solutions | Perez, Juan J. |
| Senior Vice President-Talent & Organization Effectiveness | Pheister, Erin R. |
| Senior Vice President-Agribusiness Distribution and Underwriting | Pollitt, Dirk |
| Senior Vice President-Retirement Solutions Sales | Porter, Richard |
| Senior Vice President-World-Class Underwriting Project Executive | Riczko, Elizabeth Margaret |
| Senior Vice President-Marketing Management - Financial Services | Rodriguez, Kristi L. |
| Senior Vice President-Personal Lines Operations | Rommel, Jeff M. |
| Senior Vice President-Chief Customer Officer | Samuel, Michelle |

---

------

---

| | |
|:---|:---|
| Senior Vice President-Finance & Strategy Legal and Corporate Secretary | Skingle, Denise L. |
| Senior Vice President-Nationwide Life and Director | Snyder, Holly R.  |
| Senior Vice President-Total Rewards | Sonneman, Christopher P. |
| Senior Vice President-Retirement Solutions | Stevenson, Eric Ray |
| Senior Vice President-Commercial Lines – Middle Market | Talkowski, Kristina Marie |
| Senior Vice President-Personal Lines Sales & Distribution | Tripp, Michael |
| Senior Vice President-Chief Technology Officer – Property & Casualty | Vasudeva, Guruprasad C.  |
| Senior Vice President-E-Risk Services – E&S/Specialty | Walsh, James |
| Senior Vice President-Programs – E&S/Specialty | Wayne, Amber M |
| Senior Vice President-Human Resources Business Partner | Webster, Cynthia S. |
| Senior Vice President-Commercial Lines – Small Market | Williams, George Middleton |
| Director | Walker, Kirt A. |

---

**Item 29. Persons Controlled by or Under Common Control with the Depositor or Registrant.**

Following is a list of entities directly or indirectly controlled by or under common control with the depositor or registrant. Ownership is indicated through indentation. Unless otherwise indicated, each subsidiary is either wholly-owned or majority-owned by the parent company immediately preceding it. (For example, Nationwide Fund Distributors, LLC is either wholly-owned or majority owned by NFS Distributors, Inc.) Separate accounts that have been established pursuant to board resolution but are not, and have never been, active are omitted.

---

| | | |
|:---|:---|:---|
| **Company** | &nbsp;&nbsp; **Jurisdiction**<br> **of Domicile**<br>| **Brief Description of Business** |
| Nationwide Financial Services, Inc. | Delaware | &nbsp;&nbsp; The company acts primarily as a holding company for <br> companies within the Nationwide organization that offer or <br> distribute life insurance, long-term savings and retirement <br> products.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NFS Distributors, Inc. | Delaware | &nbsp;&nbsp; The company acts primarily as a holding company for <br> Nationwide Financial Services, Inc. companies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Financial General Agency, Inc. | Pennsylvania | The company is a multi-state licensed insurance agency. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Fund Distributors, LLC | Delaware | The company is a limited purpose broker-dealer. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Fund Management, LLC | Delaware | &nbsp;&nbsp; The company provides administration, transfer and <br> dividend disbursing agent services to various mutual fund <br> entities. <br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Retirement Solutions, Inc. | Delaware | &nbsp;&nbsp; The company markets and administers deferred <br> compensation plans for public employees.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Securities, LLC | Delaware | &nbsp;&nbsp; The company is a general purpose broker-dealer and <br> investment adviser registered with the Securities and <br> Exchange Commission.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Trust Company, FSB | Federal | &nbsp;&nbsp; This is a federal savings bank chartered by the Office of <br> Thrift Supervision in the United States Department of <br> Treasury to exercise deposit, lending, agency, custody <br> and fiduciary powers and to engage in activities <br> permissible for federal savings banks under the Home <br> Owners' Loan Act of 1933.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Financial Services Capital Trust | Delaware | &nbsp;&nbsp; The trust's sole purpose is to issue and sell certain <br> securities representing individual beneficial interests in the <br> assets of the trust<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525 Cleveland Avenue, LLC | Ohio | &nbsp;&nbsp; This is a limited liability company organized under the <br> laws of the State of Ohio. The company was formed to <br> provide remedial real property cleanup prior to sale.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Life Insurance Company <sup>2</sup> <br>| Ohio | &nbsp;&nbsp; The corporation provides individual life insurance, group <br> and health insurance, fixed and variable annuity products <br> and other life insurance products.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson National Life Insurance Company<sup>2,3</sup> <br>| Texas | The company provides life, health and annuity products. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson National Life Annuity Company C<sup>2,3</sup> <br>|  | A separate account issuing variable annuity products. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson National Life Annuity Account E<sup>2,3</sup> <br>|  | A separate account issuing variable annuity products. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson National Life Annuity Account F<sup>2,3</sup> <br>|  | A separate account issuing variable annuity products. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson National Life Annuity Account G<sup>2,3</sup> <br>|  | A separate account issuing variable annuity products. |

---

------

---

| | | |
|:---|:---|:---|
| **Company** | &nbsp;&nbsp; **Jurisdiction**<br> **of Domicile**<br>| **Brief Description of Business** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Jefferson National VA Separate <br> Account 1<sup>2,3</sup> <br>| New York | A separate account issuing variable annuity products. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MFS Variable Account<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Multi-Flex Variable Account<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-II<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-3<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-4<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-5<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-6<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-7<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-8<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-9<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-10<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-11<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-12<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-13<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-14<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Variable Account-15<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Provident VA Separate Account 1<sup>2,3</sup> <br>| Pennsylvania | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VLI Separate Account<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VLI Separate Account-2<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VLI Separate Account-3<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VLI Separate Account-4<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VLI Separate Account-5<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VLI Separate Account-6<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VLI Separate Account-7<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Provident VLI Separate Account 1<sup>2,3</sup> <br>| Pennsylvania | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Investment Services Corporation<sup>3</sup> <br>| Oklahoma | &nbsp;&nbsp; This is a limited purpose broker-dealer and distributor of <br> variable annuities and variable life products for <br> Nationwide Life Insurance Company and Nationwide Life <br> and Annuity Insurance Company. The company also <br> provides educational services to retirement plan sponsors <br> and its participants. <br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Financial Assignment Company<sup>3</sup> <br>| Ohio | &nbsp;&nbsp; The company is an administrator of structured <br> settlements.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Investment Advisors, LLC<sup>3</sup> <br>| Ohio | The company provides investment advisory services. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Eagle Captive Reinsurance, LLC<sup>3</sup> <br>| Ohio | The company is engaged in the business of insurance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Life and Annuity Insurance <br> Company<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; The company engages in underwriting life insurance and <br> granting, purchasing and disposing of annuities.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VA Separate Account-A<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VA Separate Account-B<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VA Separate Account-C<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VA Separate Account-D<sup>2,3</sup> <br>| Ohio | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Provident VA Separate Account <br> A<sup>2,3</sup> <br>| Delaware | A separate account issuing variable annuity contracts. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VL Separate Account-C<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|

---

------

---

| | | |
|:---|:---|:---|
| **Company** | &nbsp;&nbsp; **Jurisdiction**<br> **of Domicile**<br>| **Brief Description of Business** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VL Separate Account-D<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide VL Separate Account-G<sup>2,3</sup> <br>| Ohio | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Provident VLI Separate Account <br> A<sup>2,3</sup> <br>| Delaware | &nbsp;&nbsp; A separate account issuing variable life insurance <br> policies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Olentangy Reinsurance, LLC<sup>3</sup> <br>| Vermont | The company is a captive life reinsurance company. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide SBL, LLC | Ohio | &nbsp;&nbsp; The company is a lender offering securities-back lines of <br> credit.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Registered Investment Advisors Services, Inc. | Texas | &nbsp;&nbsp; The company is a technology company that facilitates <br> third-party money management services for registered <br> investment advisors<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nationwide Fund Advisors<sup>4</sup> <br>| Delaware | The trust acts as a registered investment advisor. |

---

<sup>1</sup>

This subsidiary/entity is controlled by its immediate parent through contractual association.

<sup>2</sup>

This subsidiary/entity files separate financial statements.

<sup>3</sup>

Information for this subsidiary/entity is included in the consolidated financial statements of its immediate parent.

<sup>4</sup>

This subsidiary/entity is a business trust.

**Item 30. Indemnification**

Provision is made in Nationwide's Amended and Restated Code of Regulations and expressly authorized by the General Corporation Law of the State of Ohio, for indemnification by Nationwide of any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative by reason of the fact that such person is or was a director, officer or employee of Nationwide, against expenses, including attorneys fees, judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, to the extent and under the circumstances permitted by the General Corporation Law of the State of Ohio.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 ("Act") may be permitted to directors, officers or persons controlling Nationwide pursuant to the foregoing provisions, Nationwide has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

**Item 31. Principal Underwriter**

**Nationwide Investment Services Corporation ("NISC")**

a)

NISC serves as principal underwriter and general distributor for the following separate investment accounts of Nationwide or its affiliates:

---

| | |
|:---|:---|
| Jefferson National Life Annuity Account C | Nationwide Variable Account-14 |
| Jefferson National Life Annuity Account E | Nationwide Variable Account-15 |
| Jefferson National Life Annuity Account F | Nationwide VA Separate Account-A |
| Jefferson National Life Annuity Account G | Nationwide VA Separate Account-B |
| Nationwide Jefferson National VA Separate Account 1 | Nationwide VA Separate Account-C |
| MFS Variable Account | Nationwide VA Separate Account-D |
| Multi-Flex Variable Account | Nationwide VLI Separate Account |
| Nationwide Variable Account | Nationwide VLI Separate Account-2 |
| Nationwide Variable Account-II | Nationwide VLI Separate Account-3 |
| Nationwide Variable Account-3 | Nationwide VLI Separate Account-4 |
| Nationwide Variable Account-4 | Nationwide VLI Separate Account-5 |
| Nationwide Variable Account-5 | Nationwide VLI Separate Account-6 |

---

------

---

| | |
|:---|:---|
| Nationwide Variable Account-6 | Nationwide VLI Separate Account-7 |
| Nationwide Variable Account-7 | Nationwide VL Separate Account-C |
| Nationwide Variable Account-8 | Nationwide VL Separate Account-D |
| Nationwide Variable Account-9 | Nationwide VL Separate Account-G |
| Nationwide Variable Account-10 | Nationwide Provident VA Separate Account 1 |
| Nationwide Variable Account-11 | Nationwide Provident VA Separate Account A |
| Nationwide Variable Account-12 | Nationwide Provident VLI Separate Account 1 |
| Nationwide Variable Account-13 | Nationwide Provident VLI Separate Account A |

---

b)

Directors and Officers of NISC:

---

| | |
|:---|:---|
| President and Director | Ambrozy, Tina S.  |
| Senior Vice President and Secretary | Skingle, Denise L. |
| Vice President and Assistant Secretary | Garman, David A.  |
| Vice President-Chief Compliance Officer | Rabenstine, James J. |
| Vice President-Chief Tax Officer | Scheiderer, Kevin P. |
| Vice President-CFO - Life Insurance | Wild, Keith D. |
| Associate Vice President-NF Compliance - Strategic Customer Solutions | Deleget, J. Brian |
| Associate Vice President and Assistant Treasurer | Hacker, Hope C.  |
| Associate Vice President and Assistant Treasurer | Radabaugh, Nathan |
| Associate Vice President and Treasurer | Roswell, Ewan T. |
| Associate Vice President and Assistant Treasurer | Walker, Tonya G. |
| Assistant Secretary | Bowman, Heidi K. |
| Assistant Secretary | Dokko, David H. |
| Assistant Secretary | Hartman, Mark E. |
| Director | Hawley, Craig A. |
| Director | Stevenson, Eric |

---

The business address of the Directors and Officers of NISC is: <br>One Nationwide Plaza, Columbus, Ohio 43215.

c)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Principal Underwriter** | **Net Underwriting**<br> **Discounts**<br>| **Compensation on**<br> **Redemption**<br>| **Brokerage**<br> **Commissions**<br>| **Other**<br> **Compensation**<br>|
| Nationwide Investment Services Corporation | N/A | N/A | N/A | N/A |

---

**Item 32. Location of Accounts and Records**

Steven A. Ginnan <br>Nationwide Life Insurance Company <br>One Nationwide Plaza <br>Columbus, OH 43215

**Item 33. Management Services**

Not Applicable

**Item 34. Fee Representation**

Nationwide Life Insurance Company represents that the fees and charges deducted under the contract in the aggregate are reasonable in relation to the services rendered, the expenses expected to be incurred and risks assumed by Nationwide Life Insurance Company.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Columbus, and State of Ohio, on July 1, 2025.

---

| |
|:---|
| **Nationwide Jefferson National VA Separate Account** <br> **1**<br>|
| (Registrant) |
| By: /s/ John L. Carter\* |
| John L. Carter<br> President and Chief Operating Officer<br>|
| **Nationwide Life Insurance Company** |
| (Depositor) |
| By: /s/ John L. Carter\* |
| John L. Carter<br> President and Chief Operating Officer<br>|

---

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities indicated, on July 1, 2025.

---

| | |
|:---|:---|
| /s/ JOHN L. CARTER\* |  |
| John L. Carter, President and Chief Operating Officer <br> and Director (Principal Executive Officer)<br>|  |
| /s/ HOLLY R. SNYDER\* |  |
| Holly R. Snyder, Senior Vice President and Director |  |
| /s/ TIMOTHY G. FROMMEYER\* |  |
| Timothy G. Frommeyer, Executive Vice President and <br> Director<br>|  |
| /s/ CRAIG A. HAWLEY\* |  |
| Craig A. Hawley, Senior Vice President-Nationwide <br> Annuity and Director<br>|  |
| /s/ STEVEN A. GINNAN\* |  |
| Steven A. Ginnan, Senior Vice President-Chief Financial <br> Officer-Nationwide Financial and Director<br> (Chief Financial Officer)<br>|  |
| /s/ KIRT A. WALKER |  |
| Director |  |
| /s/ JAMES D. BENSON |  |
| James D. Benson, Senior Vice President-Corporate <br> Controller and Chief Accounting Officer<br> (Principal Accounting Officer)<br>|  |
|  | \*By: /s/ Stephen M. Jackson |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Stephen M. Jackson<br> Attorney-in-Fact<br> Pursuant to Power of Attorney<br>|

---

------

## Exhibit 99.27

NATIONWIDE LIFE INSURANCE COMPANY

BOARD OF DIRECTORS

ACTION IN WRITING WITHOUT A MEETING

The undersigned, being the directors of Nationwide Life Insurance Company (the "Company") who would be entitled to notice of a board of directors meeting for the purpose of considering the resolutions set forth below, do hereby authorize, consent to, and adopt the following resolutions by unanimous written consent without a meeting:

WHEREAS, the Company will be required to take certain actions to facilitate its annuity business following the anticipated July 1, 2025, merger of Jefferson National Life Insurance Company of New York with and into the Company (the "Merger"); and

WHEREAS, one of the required actions resulting from the Merger will be to rename the Separate Account.

<u>Approval of Merger and Plan and Agreement of Merger</u>

RESOLVED, that effective as of July 1, 2025, and upon completion of the Merger, the proper officers of the Company are hereby authorized and directed to rename the Separate Account from "Jefferson National Life of New York Annuity Account 1" to "Nationwide Jefferson National VA Separate Account 1"; and

<u>Regulatory Approvals</u>

RESOLVED FURTHER, that the proper officers of this Company be, and they hereby are, authorized to obtain such regulatory approvals or make such regulatory filings as are necessary to carry out the foregoing resolutions; and

<u>Ratification</u> 

RESOLVED FURTHER, that any acts of the proper officers, which acts would have been authorized by the foregoing resolutions except that such acts were taken prior to the adoption of such resolutions, are hereby severally ratified, confirmed, approved, and adopted as acts in the name of and on behalf of the Company; and

<u>Empowerment</u>

RESOLVED FURTHER, that the proper officers of the Company be, and they hereby are, authorized and empowered to do and perform, or cause to be done and performed, all such acts, deeds, and things to make, execute, and deliver, or cause to be made, executed, and delivered, all such agreements, undertakings, documents, instruments, and certificates in the name of and on behalf of the Company as such officers may deem necessary or desirable to effectuate and carry out fully the purpose and intent of the foregoing resolutions.

Dated: June 4, 2025

*Signatures to follow on next page* 

------

---

| | |
|:---|:---|
| /s/ John L. Carter | /s/ Craig A. Hawley |
| John L. Carter | Craig A. Hawley |
| /s/ Timothy G. Frommeyer | /s/ Holly R. Snyder |
| Timothy G. Frommeyer | Holly R. Snyder |
| /s/ Steven A. Ginnan | /s/ Kirt A. Walker |
| Steven A. Ginnan | Kirt A. Walker |

---

## Exhibit 99.27

NATIONWIDE LIFE INSURANCE COMPANY

**[One Nationwide Plaza** 

**Columbus, Ohio 43215-2220]** 

**Merger Endorsement** 

**General Information Regarding this Endorsement** 

This Merger Endorsement ("Endorsement") amends the annuity contract to which it is attached including any applications, amendments, endorsements, and/or riders only as set forth in the Contract Form Changes section of this Endorsement. To the extent the terms of this Endorsement and other contract forms are inconsistent, the terms of this Endorsement shall control.

**Notice of Merger** 

**Effective [July 1, 2025] Jefferson National Life Insurance Company of New York ("JNL NY") merged with Nationwide Life Insurance Company ("NLIC").** 

**Effect of Merger** 

As a result of the merger, NLIC will replace JNL NY as the issuer and underwriter of the contract forms.

All rights, responsibilities, and obligations of JNL NY under the contract forms are now the rights, responsibilities, and obligations of NLIC and not JNL NY. All terms, conditions and benefits of your contract remain the same.

**Contract Form Changes** 

All references to Jefferson National Life Insurance Company of New York and JNL NY are deleted and replaced with Nationwide Life Insurance Company and NLIC, as applicable.

All references to Separate Account or Variable Account are changed to Nationwide Jefferson National VA Separate Account 1.

Wherever the words "we," "us," "our" or "the Company" appear in the contract forms, they mean or refer to Nationwide Life Insurance Company.

As a result of the merger, the state of organization of the insurer is changing from New York to Ohio (NLIC).

All references to "Home Office" mean NLIC's Home Office:

[One Nationwide Plaza

Columbus, Ohio 43215-2220]

Telephone: [1-800-882-2822]

Internet: [www.nationwide.com]

Any payments, inquiries, or claims under the contract forms can be directed for response to:

Nationwide Life Insurance Company

[P.O. Box 183000

Columbus, OH 43218-2928]

[1-866-667-0561]

VAZZ-0244NY (New York) ([7/2025])

------

Any references to "Administrative Office" are amended to refer to the NLIC service center. NLIC's service center is located at:

[DSPF-16

1 Nationwide Plaza

Columbus, OH 43215-2239]

Notwithstanding any statements in the Contract to the contrary, the "Annuity Options" section of the Annuity Provisions of the Contract is modified by deleting the introductory paragraph in its entirety and replacing it with the following:

**Annuity Options:** Annuity benefits at the time of their commencement will not be less than the greater of the annuity benefits that would be paid if 100% of the Contract Value was applied to: the c<u>urrent purchase rates then in effect at Nationwide; the guaranteed purchase rates in this Contract; or the then current rates</u> used to purchase any single consideration immediate annuity contract offered by Nationwide at that time to the same class of annuitants. The following Annuity Options or any other annuity option acceptable to Nationwide may be selected:

Executed for Nationwide on the Date of Issue by:

---

| | |
|:---|:---|
| ![LOGO](g138721dsp49a.jpg) | ![LOGO](g138721dsp49b.jpg) |
| Secretary | President |

---

VAZZ-0244NY 2 (New York) ([7/2025])

## Exhibit 99.27

**Plan and Agreement of Merger** 

This Plan and Agreement of Merger (the "Agreement"), is entered into on March 27, 2025, by and between JEFFERSON NATIONAL LIFE INSURANCE COMPANY OF NEW YORK, a New York corporation with its home office located One Battery Park Plaza, 30<sup>th</sup> Floor, New York, NY 10004 ("JNLICONY"), and NATIONWIDE LIFE INSURANCE COMPANY, an Ohio corporation with its home office located at One West Nationwide Blvd., Columbus, OH 43215-2220 ("NLIC" or the "Surviving Corporation"). JNLICONY and NLIC are hereinafter sometimes collectively referred to as the "Constituent Corporations" or individually as a "Constituent Corporation".

<u>Recitals of Fact</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. JNLICONY is a stock corporation duly organized and existing under the laws of the State of New York and has on the date hereof authorized capital stock consisting of 2,000,000 shares of common stock of $1.00 par value per share, of which, on the date hereof, 2,000,000 of such shares of common stock are issued and outstanding, all of which shares at the date of this Agreement are owned legally and beneficially by Jefferson National Life Insurance Company, a Texas domiciled life insurance company ("JNLIC"), but as the result of an anticipated dividend of all of the outstanding JNLICONY shares from JNLIC to NLIC, at the date of the Merger will be owned legally and beneficially by NLIC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. NLIC is a stock corporation duly organized and existing under the laws of the State of Ohio and has on the date hereof authorized capital stock consisting of 5,000,000 shares of common stock of $1.00 par value per share, of which, on the date hereof, 3,814,779 of such shares of common stock are issued and outstanding, all of which shares are owned legally and beneficially by Nationwide Financial Services, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. The Boards of Directors of the Constituent Corporations have deemed it advisable and in the best interest of said entities that JNLICONY be merged with and into NLIC as provided herein, and in accordance with the applicable provisions of the laws of the State of Ohio and the State of New York that permit such merger and have adopted and approved this Agreement.

NOW THEREFORE, in consideration of the premises and the mutual agreements herein contained, $1.00 and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, by their respective Boards of Directors, and intending to be legally bound and in accordance with the applicable provisions of the laws of the State of Ohio and the State of New York, do hereby agree as follows:

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Merger</u>. At the Effective Time (as defined herein), JNLICONY shall be merged with and into NLIC (the "Merger"), resulting in a single corporation in accordance with the applicable provisions of the laws of the State of Ohio and the State of New York with NLIC being the Surviving Corporation, upon the terms and conditions set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Effect of Merger.</u> Upon and after the Effective Time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The two Constituent Corporations shall be a single corporation and NLIC shall be the surviving legal entity of the Merger and shall continue to exist as a domestic corporation under the laws of the State of Ohio. The Surviving Corporation shall possess all rights, privileges, powers, franchises, and immunities, and be subject to all the restrictions, disabilities, liabilities and duties of each of the Constituent Corporations so merged. The Surviving Corporation shall possess and own all of the property, real, personal, and mixed, and all debts owing on whatever account and all other things in action of or belonging to each of the Constituent Corporations, and such items shall be transferred to and vested in the Surviving Corporation without further act or deed. All debts, liabilities, and duties of the respective Constituent Corporations shall thenceforth attach to the Surviving Corporation and may be enforced against it to the same extent as if the debts, liabilities, and duties had been incurred or contracted by it, however, all rights of creditors and all liens upon the property of either of the Constituent Corporations shall be preserved unimpaired, limited in lien to the property affected by the lien at the Effective Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) At the Effective Time, JNLICONY shall cease to exist as separate legal entity, except as provided by the laws of the State of New York, and its property, rights and obligations shall become the property, rights and obligations of the Surviving Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Name and State of Domicile of Surviving Corporation.</u> 

At and after the Effective Time, the Surviving Corporation shall continue to be named "Nationwide Life Insurance Company" and the state of domicile shall remain the State of Ohio. The principal offices of the Surviving Corporation in Ohio shall continue to be located at One West Nationwide Blvd., Columbus, OH 43215-2220.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Articles of Incorporation; Code of Regulations</u>. At and after the Effective Time, the Amended and Restated Charter of JNLICONY shall be cancelled, and the Amended and Restated Articles of Incorporation and the Amended and Restated Code of Regulations of NLIC (which are attached hereto as Exhibits A and B respectively), which shall not be amended in any respect by reason of this Agreement or the Merger, shall remain the Amended and Restated Articles of Incorporation and the Amended and Restated Code of Regulations of the Surviving Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Directors and Officers.</u> At and after the Effective Time, the members of the Board of Directors of NLIC and the officers of NLIC shall continue as the members of the Board of Directors of the Surviving Corporation and officers of the Surviving Corporation, respectively, until their successors are duly elected and qualified pursuant to the Amended and Restated Articles of Incorporation and the Amended and Restated Code of Regulations of the Surviving Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Shares of Survivor.</u> Each share of the common stock of NLIC issued and outstanding at the Effective Time shall not be changed in any respect by reason of this Agreement, and shall thereupon, without further action, remain outstanding as one share of the common stock of the Surviving Corporation, without the issuance or exchange of new shares or share certificates, and no additional shares of the Surviving Corporation shall be issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Cancellation of the JNLICONY Shares.</u> As of the Effective Time, each of the issued and outstanding shares of JNLICONY, by virtue of the Merger becoming effective, and without any further action, shall be cancelled and shall cease to represent any ownership interest in JNLICONY or any other entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Authorized Capital of Survivor.</u> The amount, number and class of shares of the authorized capital stock of the Surviving Corporation and the par value thereof immediately prior to the Effective Time, shall remain the same after the Effective Time, unless and until changed as provided by law, the Amended and Restated Articles of Incorporation and the Amended and Restated Code of Regulations of the Surviving Corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>No Consideration for Assistance of Officer and Directors.</u> No director, officer, agent or employee of the Constituent Corporations shall receive any fee, commission, compensation or other valuable consideration whatsoever, solely for in any manner aiding, promoting or assisting in the adoption or approval of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Approvals</u>. This Agreement has been approved by the shareholders of JNLICONY and NLIC respectively and the Boards of Directors of JNLICONY and NLIC, respectively. The officers of each of the Constituent Corporations shall be, and they hereby are authorized and directed to, perform all such further acts, and execute and deliver to the proper authorities for filing all documents, as may be necessary or proper to render effective the Merger contemplated by this Agreement.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Conditions to Completing the Merger.</u> The Merger shall not be effective and neither this Agreement nor the Articles of Merger incorporating this Agreement shall be filed unless and until the following conditions have been fulfilled:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement has been approved by the sole shareholders of the Constituent Corporations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Constituent Corporations have received all consents, approvals or non-disapprovals, or exemptions prescribed by law which are necessary for the consummation of the Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Abandonment of Agreement.</u> Notwithstanding any of the provisions of this Agreement, the Boards of Directors of the Constituent Corporations, at any time before or after the approval by shareholder of any of them, and prior to the Effective Time, and for any reason they may deem sufficient and proper, shall have the power and authority to abandon and refrain from making effective the contemplated Merger as set forth herein; in which case this Agreement shall thereby be cancelled and become null and void.

13 <u>Effective Time of Merger.</u> Except as otherwise set forth in this

Agreement, the effect of the Merger and the effective time of the merger shall be July 1, 2025, or as soon as possible thereafter (the "Effective Time").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Amendments and Modifications.</u> The parties hereto may amend this Agreement at any time prior to the Effective Time by a properly executed writing setting forth the amendment or modification.

(signature page follows immediately)

------

IN WITNESS WHEREOF, each of the Board of Directors of the Constituent Corporations, pursuant to resolutions or actions in writing unanimously adopted by written consent, have caused this Agreement to be executed in their corporate names by their Presidents and attested to by their Secretaries, as of this 27th day of March 2025.

---

| | | |
|:---|:---|:---|
|  | JEFFERSON NATIONAL LIFE<br> INSURANCE COMPANY OF NEW YORK | JEFFERSON NATIONAL LIFE<br> INSURANCE COMPANY OF NEW YORK |
|  | By: | /s/ Craig A. Hawley |
|  |  | Craig A. Hawley |
|  |  | President |
| ATTEST: |  |  |
| /s/ Mark E. Hartman |  |  |
| Mark E. Hartman |  |  |
| Assistant Secretary |  |  |
|  | JEFFERSON NATIONAL LIFE<br> INSURANCE COMPANY | JEFFERSON NATIONAL LIFE<br> INSURANCE COMPANY |
|  | By: | /s/ Craig A. Hawley |
|  |  | Craig A. Hawley |
|  |  | President |
| ATTEST: |  |  |
| /s/ Mark E. Hartman |  |  |
| Mark E. Hartman |  |  |
| Assistant Secretary |  |  |
|  | Acknowledged by:<br> NATIONWIDE LIFE INSURANCE COMPANY | Acknowledged by:<br> NATIONWIDE LIFE INSURANCE COMPANY |
|  | By: | /s/ John L. Carter |
|  |  | John L. Carter |
|  |  | President and Chief Operating Officer |
| ATTEST: |  |  |
| /s/ Mark E. Hartman |  |  |
| Mark E. Hartman |  |  |
| Assistant Secretary |  |  |

---

------

EXHIBIT A

Amended and Restated Articles of Incorporation

Nationwide Life Insurance Company

------

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **DATE** | **DOCUMENT NO DESCRIPTION** | | **FILING** | **FILING** | **EXPED** | **EXPED** | **PENALTY** | **PENALTY** | **CERT** | **CERT** | **COPY** | **COPY** |
| 1. | 2/ 3/2000 200000503419 | AMA DOMESTIC/AMENDED RESTATED ARTICLES |  |  | 35.00 |  | 0.00 |  | 0.00 |  | 0.00 |  | 0.00 |
|  |  |  | **TOTAL** |  | 35.00 |  | 0.00 |  | .0.00 |  | 0.00 |  | 0.00 |

---

**Return To:** 

**NATIONWIDE INSURANCE** 

**ATTN E BEARD** 

**ONE NATIONWIDE PLZ** 

**COLUMBUS, OH 43215-0000** 

***The State of Ohio***

***Certificate e***

***Secretary of State - J. Kenneth Blackwell***

***135635***

*It is hereby certified that the Secretary of State of Ohio has custody of the business records for NATIONWIDE LIFE INSURANCE and that said business records show the filing and recording of*

<u> *Document(s)*</u> *Document No(s)* <br> *DOMESTIC/AMENDED RESTATED ARTICLES* *200000503419*

---

| | |
|:---|:---|
| United States of America | Witness my hand and the seal of the Secretary |
| State of Ohio | of State at Columbus, Ohio, This 30th day of |
| Office of the Secretary of State | December, A.D. 1999 |

---

---

| | |
|:---|:---|
| ![LOGO](g138721dsp07.jpg) | J Kenneth Blackwell<br> Secretary of State |

---

------

**Prescribed by *J.* Kenneth Blackwell** 

**Secretary of State of Ohio** 

---

| | |
|:---|:---|
| **Expedite this form** | **Expedite this form** |
| ✓ | **<u>YES</u>** |

---

**CERTIFICATE OF AMENDED ARTICLES OF INCORPORATION** 

**of** 

**<u>NATIONWIDE LIFE INSURANCE COMPANY</u>**

<u>135635</u> 

(charter number)

***<u>Dennis</u>*** <u>W, Click</u>, who is the <u>secretary</u> of the above named Ohio corporation for profit, does certify that:

☐ a meeting of the shareholders was duly called and held on , at which meeting a quorum of the shareholders was present in person or by proxy, and that by the affirmative vote of the holders of shares entitling them to exercise % of the voting power of the corporation,

☒ in a writing signed by all the shareholders who would be entitled to notice of a meeting held for that purpose, the following Amended Articles of Incorporation were adopted to supersede and take the place of the existing Articles and all amendments thereto.

**AMENDED ARTICLES OF INCORPORATION** 

FIRST: The name of said Company shall be "Nationwide Life Insurance Company".

SECOND: Said Company is to be located, and the principal office maintained in the City of Columbus, Ohio.

---

| | |
|:---|:---|
| THIRD: | Said Company is formed for the purpose of (a) making insurance upon the lives of individuals and every insurance appertaining thereto or connected therewith on both participating and not-participating plans, (b) granting, purchasing or disposing of annuities on both participating and non-participating plans, (c) taking ***risks*** connected with or appertaining to making insurance on life or against accidents to persons, or sickness, temporary or permanent disability on both participating and non-participating plans, (d) investing funds, (e) borrowing money on either a secured or unsecured basis in furtherance of the foregoing, and (f) engaging in all activities permitted life insurance companies under the laws of  |

---

RECEIVED the State of Ohio.

------

Prescribed by **J. Kenneth Blackwell** 

Secretary of State of Ohio

FOURTH: No holder of shares of this Company shall be entitled as such, as a matter of right, to subscribe for or purchase shares now or hereafter authorized.

The capital stock of this Company shall be Five Million Dollars ($5,000,000.00) divided into Five Million (5,000,000) Common ohms of the par value of One Dollar ($1.00) each, which may be subscribed and purchased, or otherwise acquired for such consideration at not less than par, and under such terms and conditions as the Board of Directors may prescribe,

---

| | |
|:---|:---|
| FIFTH: | Dividends may be declared and paid on the outstanding stock, subject to the restrictions herein contained. Dividends on the capital stock shall be paid only from the earned surplus of the Company. Unless those policyholders owning participating insurance policies or contracts shall have received an equitable dividend arising out of savings in mortality, savings in expense loadings and excess interest earnings, if any, from such participating policies, no dividend from such savings and earnings shall be declared or paid on capital stock in the amount in excess of seven percent (7%) per annum, computed on the par value of the stock from date of original issue to date of retirement or date of payment of dividend.  |

---

---

| | |
|:---|:---|
| SIXTH: | The corporate powers and business of the Company shall be exercised, conducted and controlled, and the corporate property managed by a Board of Directors consisting of not less than five (5), nor more than twenty-one (21), as may from time to time be fixed by the Code of Regulations of the Company. At the first election of directors, one-third of the directors shall be elected to serve until the next annual meeting, one-third shall be elected to serve until the second annual meeting, and one-third shall be elected to serve until the third annual meeting; thereafter all directors shall be elected to serve for terms of three (3) years each, and until their successors are elected and qualified. Vacancies on the Board of Directors, arising from any cause, shall be filled by the remaining directors,  |

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The directors shall be elected at the annual meetings of the shareholders by a majority vote of the shareholders present in person or by proxy, provided that<u> </u>vacancies may be filled as herein provided for.

The shareholders of the Company shall have the right, subject to the statutes **of** the State of Ohio and these Articles of Incorporation, to adopt a Code of Regulations governing the transaction of the business and affairs of the Company which may be altered, amended or repealed in the manner provided by law.

The Board of Directors shall elect from their own number a Chairman of the Board of Directors, a Chairman and Chief Executive Officer, and a President. The Board of Directors shall also elect one or more Vice Presidents, General Counsel, Secretary and Treasurer. The Board of Directors may also elect or appoint such additional vice presidents, assistant secretaries and assistant treasurers as may be deemed advisable or necessary, and may fix their duties.

Form 122-AMAP

December 30, 1999

Page 2 of 3

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**Prescribed by Je Kenneth Blackwell** 

**Secretary of State of Ohio** 

The Board of Directors may appoint such other officers as may be provided in the Code of Regulations. All officers, unless sooner removed by the Board of Directors, shall hold office for one (1) year, or until their successors are elected and qualified. Other than the Chairman of the Board of Directors, Chairman and Chief Executive Officer, and President, the officers need not be members of the Board of Directors. Officers shall be elected at each annual organization meeting of the Board of Directors, but elections or appointments to fill vacancies may be had at any meeting of the directors.

A majority of the Board of Directors and officers shall, at all times, be citizens of the State of Ohio.

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| SEVENTH: | The annual meeting of the shareholders of the Company shall be held at such time as may be fixed in the Code of Regulations of the Company. Any meeting of shareholders, annual or special, may be held in or outside of the State of Ohio. Reasonable notice of all meetings of shareholders shall be given, by mail or publication or as prescribed by the Code of Regulations or by law,  |

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EIGHTH: These Amended Articles of Incorporation shall supersede and take the place of the Articles of Incorporation and all amendments thereto heretofore filed with the Secretary of State by and on behalf of this Company.

IN WITNESS WHEREOF, the above named officer, acting for and on behalf of the corporation, has hereunto subscribed his name on <u>December 30. 1999.</u>

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| By: |  |
| Title: | **<u>Secretary</u>** |

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**Form 122-AMAP** 

**December 30, 1999** 

**Page 3 of 3** 

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EXHIBIT B

Amended and Restated Code of Regulations

Nationwide Life Insurance Company

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NATIONWIDE LIFE INSURANCE COMPANY

AMENDED AND RESTATED

CODE OF REGULATIONS

For the Government of the Shareholders

and Board of Directors

ARTICLE I

Offices

Section 1. <u>Principal Office</u>. The principal office of Nationwide Life Insurance Company (the "Company") shall be located in Franklin County, Ohio.

Section 2. <u>Branch Offices</u>. Branch offices may be established anywhere in the United States of America, its territories or possessions.

ARTICLE II

Meetings of Shareholders

Section 1. <u>Meetings In or Out of State</u>. Any meeting of shareholders may be held in or outside of the State of Ohio.

Section 2. <u>Annual Meeting</u>. An annual meeting of the shareholders shall be held on such date and at such place and time as is fixed by resolution of the board of directors. If, for any reason, the annual meeting is not held as provided for in this section, then the business to be transacted thereat may be transacted at any special meeting of the shareholders called as provided in Section 3 of this Article.

Section 3. <u>Special Meetings of Shareholders</u>. Special meetings of the shareholders may be called by the chairman of the board, the chief executive officer, the president, a majority of the members of the board of directors acting with or without a meeting, or upon the written request of persons who hold 25% of all the votes entitled to be cast on any issue proposed to be considered. Upon request in writing by registered mail or delivered in person to the chief executive officer, the president, the secretary, or to any other person or persons entitled to call a meeting of the shareholders, it shall be the duty of the officer receiving such request to give notice forthwith to the shareholders, as provided in Article V, and if such notice shall not be so given, then the person or persons making such request may give such notice to the shareholders. Such notice for special meetings shall specify the time, place, and purpose or purposes thereof and no business other than that included in the statements of such notice shall be acted upon at such meeting except with the consent of all of the shareholders entitled to notice of and eligible to vote at the meeting in question.

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Section 4. <u>Notice of Meetings</u>. Notices of regular or special meetings of the shareholders shall be delivered not more than forty-five (45) nor less than ten (10) days before the date fixed for the meeting. The shareholders entitled to such notice shall be those of record as of (i) the day preceding the day on which notice is given, or (ii) if a record date therefor is fixed as provided by law or this Code of Regulations, the date so fixed. In the event of the transfer of shares after notice has been given and prior to the holding of the meeting, it shall not be necessary to serve notice upon the transferee.

Section 5. <u>Business Transacted at Special Meetings</u>. Business transacted at special meetings shall be limited to the purpose stated in the notice and matters germane thereto, except with the consent of all shareholders entitled to notice of and eligibility to vote at the meeting in question.

Section 6. <u>Quorum</u>. A quorum shall be deemed to be present for any matter to be presented at a meeting of the shareholders if the holders of a majority of the issued and outstanding shares entitled to vote at the meeting are represented at that meeting, whether in person or by proxy, except as otherwise provided by statute or by the Articles of Incorporation, as amended or restated. However, if at any regular or special meeting of the shareholders, or at any adjournment thereof, a quorum is not present, then a majority vote of the shares present in person or by proxy shall constitute a quorum for the purpose of (i) adjourning the meeting until a quorum competent to act on any matter or proposal is present and (ii) establishing the date, time and place of the rescheduled meeting.

Section 7. <u>Shareholder Vote</u>. Except as otherwise provided in the Articles of Incorporation, each shareholder shall, at every meeting of the shareholders, be entitled to one vote for each share of common stock held by such shareholder.

Section 8. <u>Election of Directors at Regular Annual Meeting</u>. At each regular annual meeting of the shareholders, the successors of the directors whose terms expire shall be elected by ballot. Directors shall be elected by receiving the highest number of votes cast on the ballot. Voting shall be non-cumulative. Only persons nominated as candidates and satisfying any qualification requirements of directors shall be eligible for election as directors. No requirements shall exist as to notice of such annual election other than those already contained in the provisions as to notices of the annual meeting. If for any reason a director is not elected at the annual meeting of the shareholders, such director may be elected at any special meeting of the shareholders duly called for that purpose.

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Section 9. <u>Voting By Proxy</u>. Except as otherwise provided in the Articles of Incorporation, each shareholder shall, at every meeting of shareholders, be entitled to vote in person or by proxy executed in writing by the shareholder. No proxy shall be voted unless signed and executed within sixty (60) days prior to the meeting for which said proxy was given. Such proxy shall be valid for eleven (11) months from the date of its execution unless a longer period is expressly provided in the proxy. A proxy may be revoked at any time by the shareholder who executed the proxy unless the proxy conspicuously indicates that it is irrevocable and is coupled with an interest, except as otherwise provided by the Ohio Revised Code. Except where the transfer books of the Company have been closed or a date has been fixed as a record date for the determination of the shareholders entitled to vote, no share of stock shall be voted at any election for Directors, which has been transferred on the books of the Company within twenty (20) days preceding such election of directors.

Section 10. <u>Majority Vote</u>. The affirmative vote of the holders of a majority of the shares of common stock that are present at the meeting, whether in person or by proxy, and voting, shall be the act of the shareholders, except as may otherwise be provided by statute or the Articles of Incorporation or this Code of Regulations.

Section 11. <u>Action by Unanimous Written Consent Without a Meeting</u>. Whenever a vote of the shareholders at a meeting thereof is required or permitted to be taken in connection with any corporate action by the provisions of law or the Articles of Incorporation or this Code of Regulations of the Company, the meeting and vote of the shareholders, as well as notice of the meeting, shall not be required if all of the shareholders who would have been entitled to vote upon the action if such meeting were held shall consent in writing to such corporate action being taken by manual, facsimile, conformed, or electronic signature thereon. Any such action by written consent shall be filed with the minutes of the proceedings of the shareholders.

Section 12. <u>Order of Business</u>. At all shareholders' meetings, the order of business shall be as follows, unless changed by the affirmative vote of the holder(s) of a majority of the shares represented at that meeting:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Reading of the minutes of the preceding meeting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Reading and consideration of reports and statements—report of the chief executive officer, the president,
any other officer and any committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Election of directors (at annual or special meetings called for that purpose)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Old or unfinished business

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. New business

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Adjournment

ARTICLE III

Fiscal Year

The fiscal year of the Company shall begin on the first day of January and end on the last day of December of each year, but the board of directors shall have the power to change such fiscal year at any time it deems such change advisable.

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ARTICLE IV

Board of Directors

Section 1. <u>Power of Directors</u>. The corporate powers, business, and property of the Company shall be exercised, conducted, and controlled by, or under the direction of, the board of directors except as otherwise required by the provisions of law or the Articles of Incorporation or this Code of Regulations of the Company with regard to action or actions required to be taken or approved by the shareholders. Directors shall have power to do all lawful acts and things pertaining to the business and affairs of the Company unless (i) such acts and things are prohibited by law, the Articles of Incorporation or this Code of Regulations or (ii) such acts and things are matters directed or required to be exercised or done by the shareholders.

Section 2. <u>Number of Directors</u>. The board of directors shall range in number from five (5) to twenty-one (21) members. The board of directors may increase or decrease by resolution the number of directors within this range.

Section 3. <u>Chairman of the Board</u>. The chairman of the board, if one is elected, must be a member of the board of directors. The chairman of the board shall preside at all meetings of the shareholders and the board of directors and shall have such other powers and duties as may be prescribed by the board of directors. In the absence of the chairman of the board, the vice chairman, if one is elected, the chief executive officer and the president, another director shall be selected by those directors present to serve as temporary chairman of the board.

Section 4. <u>Vice Chairman</u>. The vice chairman, if one is elected, must be a member of the board of directors. In the absence of the chairman of the board, or at the chairman of the board's request, the vice chairman shall preside at the meetings of the board of directors and shareholders and shall have such other powers and duties as may be prescribed by the board of directors.

Section 5. <u>Regular Meetings</u>. Regular meetings of the board of directors shall be held during the year at such times and in such places as may be determined by the board of directors.

Section 6. <u>Special Meetings</u>. Special meetings of the board of directors may be called by the chairman of the board, the chief executive officer, the president or the executive committee, and shall be called by the chairman of the board upon the written request of a majority of the directors, specifying the purpose for which the meeting is to be called. Notice of time and place of special meetings shall be given to each director at least forty-eight (48) hours before the meeting. The notice need not specify the business to be transacted.

Section 7. <u>Quorum</u>. A majority of all of the directors shall constitute a quorum for the transaction of business at all meetings, provided a lesser number may adjourn the meeting from time to time, without notice other than announcement at the meeting.

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Section 8. <u>Majority Votes</u>. An affirmative vote of a majority of the directors present and voting at a meeting at which a quorum is present shall constitute the act of the board of directors, except as may otherwise be provided by statute, the Articles of Incorporation, as amended or restated, or this Code of Regulations.

Section 9. <u>Compensation</u>. The members of the board of directors, other than salaried officers, shall receive such compensation as shall be fixed by the board of directors from time to time for the performance of services for the Company, together with reimbursement for their reasonable expenses incurred in the performance of such services.

Section 10. <u>Vacancies</u>. Any vacancy on the board of directors may be filled by a majority vote of the remaining directors. A director elected to fill a vacancy shall be elected for the unexpired term of such director's predecessor in office.

Section 11. <u>Action by Unanimous Written Consent Without a Meeting</u>. Whenever a vote of directors at a meeting thereof is required or permitted to be taken in connection with any corporate action by the provisions of law or the Articles of Incorporation or this Code of Regulations of the Company, the meeting and vote of the directors, as well as notice of the meeting, shall not be required if all of the directors who would have been entitled to vote upon the action if such meeting were held shall consent in writing to such corporate action being taken by manual, facsimile, conformed, or electronic signature thereon. Any such action by written consent shall be filed with the minutes of the proceedings of the board of directors.

ARTICLE V

Notice

Section 1. <u>Written Notice</u>. Unless otherwise provided by statute or the Articles of Incorporation or this Code of Regulations, a written, printed, or electronic notice of each regular or special meeting of the shareholders and each special meeting of the board of directors stating the time, place, and purposes thereof, shall be delivered to each shareholder of record or director entitled to vote at such meeting or entitled to notice, whether delivered personally, by mail, or electronic transmission. If delivered personally or by mail, such notice shall be addressed and delivered to the last known address of such shareholder or director as shown by the books of the Company. Such notice shall be deemed given on the day such notice is personally delivered or deposited in the mail. If notice is electronically transmitted to a shareholder or director, it shall be sent in a manner previously authorized by the shareholder or director. If such notice is transmitted electronically, it shall be deemed given on the day of the transmission. If any meeting is adjourned to another time or place, no further notice as to such adjourned meeting need be given other than by announcement at the meeting at which such adjournment is taken.

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Section 2. <u>Waiver of Notice</u>. Whenever such notice is required to be given under the provisions of law or the Articles of Incorporation or this Code of Regulations of the Company, the person or persons entitled to such notice may, either before, at or after such meeting, waive in writing any or all of the provisions of law, the Articles of Incorporation or this Code of Regulations as to notice of such meeting, including the time, place, and purpose thereof or any irregularities in such notice or arising in connection therewith or with the giving thereof and shall thereby validate the proceedings at such meeting as fully as if all of the requirements waived had been duly met. The attendance of such person at any such meeting, in person or by proxy, without protesting the lack of a proper notice of such meeting, shall be deemed to be a waiver of notice of such meeting.

ARTICLE VI

Officers

Section 1. <u>Officers</u>. The officers shall be a president, one or more vice presidents, a secretary, a treasurer, and such other vice presidents, assistant secretaries, assistant treasurers, and other officers as the board of directors or any committee of the board of directors, to the extent such committee has been delegated authority to appoint or elect officers by the board of directors, may appoint or elect or provide to be elected or appointed by resolution from time to time. Any two or more of the offices may be held by the same person, but no officer shall execute, acknowledge, or verify any instrument in more than one capacity, if such instrument is required by provisions of law or the Articles of Incorporation or this Code of Regulations of the Company to be executed, acknowledged, or verified by two or more officers.

The officers shall hold office until the date of the next annual meeting of the board of directors and until their respective successors are elected and qualified; provided, however, that any officer may be removed from office with or without cause at any time by a vote of at least two-thirds of the entire board of directors. Such removal shall be without prejudice to the contract rights, if any, of the person so removed. Election or appointment of an officer shall not, in itself, create contract rights. If, for any cause, there is no annual meeting of the board of directors, or if such meeting is held and no one is elected or re-elected to one or more of the offices, the omitted election may be held in the manner above described at any other meeting of the board of directors or any committee of the board of directors, to the extent such committee has been delegated authority to appoint or elect officers by the board of directors, if such meeting is duly called as a special meeting for that purpose or if each member of the board of directors or such committee shall be present or shall waive in writing the call and notice thereof.

Section 2. <u>Qualifications</u>. Officers need not be shareholders or directors.

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ARTICLE VII

Duties of Officers

Section 1. <u>Chief Executive Officer</u>. The chief executive officer, if one is elected, shall exercise general administrative leadership and direction of the Company in conformity with actions and controls established and maintained by the board of directors. The chief executive officer shall, in compliance with the laws of the State of Ohio, the Articles of Incorporation, and this Code of Regulations, and in concurrence with the actions of the board of directors, direct the activities of the officers of the Company. The chief executive officer shall have the power and authority to execute on behalf of the Company any and all documents, contracts, instruments, or other papers to which the signature of the Company is to be attached; provided, however, a facsimile signature may be printed, engraved, or stamped on any approved document, contract, instrument, or other papers of the Company. The chief executive officer shall exercise the discretion of and perform generally all the duties incident to the office of the chief executive officer and such other and further duties as may be from time to time required by the board of directors.

In the absence of the chairman of the board and the vice chairman, if one is elected, or at the request thereof, the chief executive officer shall preside at meetings of the shareholders and the board of directors and shall have such other powers and duties as may be prescribed by the board of directors.

Section 2. <u>President</u>. The president shall be the chief operating officer of the Company and shall, in compliance with the laws of the State of Ohio, the Articles of Incorporation, and this Code of Regulations, and in concurrence with the chief executive officer and actions of the board of directors, direct the activities of its officers. In the event the Company does not have a separately elected chief executive officer, the president shall serve as the chief executive officer and shall have the powers and duties described in Article VII, Section 1 of this Code of Regulations.

Except as provided for by resolution of the board of directors or by memorandum from the chief executive officer, the president shall have the power and authority to execute on behalf of the Company those documents, contracts, instruments, or other papers to which the signature of the Company is to be attached; provided, however, a facsimile signature may be printed, engraved, or stamped on any approved document, contract, instrument, or other papers of this Company. The president shall exercise the discretion of and perform generally all the duties incident to the office of President and such other and further duties as may be required by the board of directors or the chief executive officer.

In the absence of the chairman of the board, the vice chairman, if one is elected, and the chief executive officer, or at the request thereof, the president shall preside at meetings of the shareholders and the board of directors and shall have such other powers and duties as may be prescribed by the board of directors.

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Section 3. <u>Vice Presidents</u>. The vice presidents, who may be designated executive vice president, senior vice president, vice president, or associate vice president, shall have such powers and perform such duties as may be assigned to them by the chief executive officer or the president and approved by the board of directors.

Section 4. <u>Chief Legal and Governance Officer</u>. The chief legal and governance officer shall furnish legal counsel on corporate matters as required, render legal opinions to the board of directors, the chief executive officer, the president and other officers and employees as requested; interpret all laws and regulations relating to the business of the Company; initiate recommendations with respect to legislation affecting the business of the Company; and shall perform such other and further duties as may be required by the board of directors, the chief executive officer or the president.

Section 5. <u>Secretary</u>. The secretary shall issue notices and maintain the official records of all meetings of the shareholders and the board of directors and such records shall be attested by the secretary or by such other person as shall have acted as secretary of such meeting in the case of the secretary's absence for any reason. The secretary shall have charge of the seal, share, or other security books of the Company and shall issue and attest all certificates of shares or other securities of the Company; provided, however, a facsimile signature may be printed, engraved, or stamped on certificates for shares, bonds, or other securities of the Company when such certificates are countersigned by a transfer agent or registrar. In such case where an incorporated transfer agent or registrar of the shares or other securities of the Company shall be duly appointed by the Company, the secretary may place in charge of such incorporated transfer agent or registrar the seal and share or other security books of the Company and such incorporated transfer agent or registrar may perform, in the secretary's stead, all duties in connection with the shares of the Company. The secretary shall have power and authority to sign or attest, on behalf of the Company, all approved instruments, papers, and documents where required in carrying on the business of the Company; provided, however, a facsimile signature may be printed, engraved, or stamped thereon; and shall perform such other and further duties as may, from time to time, be assigned by the chief executive officer or president and approved by the board of directors.

Section 6. <u>Treasurer</u>. The treasurer shall maintain custody of all funds, securities, and properties of the Company; direct the receipt and deposit of all funds and securities and payment of all authorized disbursements of the Company; direct the administration of all accounting activities of the Company; furnish financial reports of the Company, as required; have the power and authority to sign or attest all approved instruments, papers, and documents where required in carrying on the business of the Company; and shall perform such other and further duties as may from time to time be assigned by the chief executive officer or president and approved by the board of directors.

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Section 7. <u>Assistant Secretary</u>. The assistant secretary shall, at all times, act as an assistant to the secretary and shall have such powers and perform such duties as may be assigned by the secretary and approved by the chief executive officer or the president. In case both the secretary and the assistant secretary are at the same time absent or unable to perform their duties, the board of directors may appoint a secretary pro tempore with the power and duty to act as secretary during such absence or disability of both the secretary and assistant secretary.

Section 8. <u>Assistant Treasurer</u>. The assistant treasurer shall, at all times, act as an assistant to the treasurer and shall have such powers and perform such duties as may be assigned by the treasurer and approved by the chief executive officer or the president.

Section 9. <u>Execution of Instruments</u>. In addition to the chief executive officer, the president, the treasurer and the secretary, any vice president, assistant secretary, or assistant treasurer shall have the power and authority to sign all approved documents, instruments, contracts, or other papers in connection with the operation of the business of the Company; provided, however, the signature of any of them may be printed, engraved, or stamped on any approved document, contract, instrument, or other papers of the Company.

Section 10. <u>Vacancies</u>. Whenever a vacancy occurs in any office of the Company for any cause, the vacancy may be filled for the unexpired term by the board of directors or any committee of the board of directors, to the extent such committee has been delegated authority to appoint or elect officers by the board of directors, if those present constitute a quorum thereof.

Section 11. <u>Bond of Officers and Employees</u>. Any officer or employee of the Company handling funds or negotiable instruments or any other property of the Company shall furnish such bond or shall be covered by a blanket bond in such amounts and with such surety or sureties as may be required by the board of directors. The premium of any such bond shall be paid by the Company.

ARTICLE VIII

Funds and Investments

Section 1. <u>Deposit of Funds</u>. The funds of the Company shall be deposited in the name of the Company in such depositories as the board of directors may designate. Such funds shall be disbursed only by check or order signed by authorized persons designated from time to time by the board of directors.

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Section 2. <u>Deposit of Securities</u>. All securities owned by the company shall be delivered in either book entry or physical form and may be held by a third-party custodian bank, in a safety deposit vault or a fire safe locked file. Movement of securities into or from the custodial bank will be accomplished in the normal course of business with appropriate reconciliation and reporting of transactions. Access to the safety deposit vault(s) or a fire safe locked file(s) shall be had by any two of the following officers acting in conjunction with each other: the chairman of the board, the vice chairman, the chief executive officer, the president, the secretary, the treasurer, an assistant secretary, an assistant treasurer, or any other person or persons designated by the board of directors from time to time.

ARTICLE IX

Committees

The board of directors may, at its discretion, appoint or elect an executive committee and any other committee or committees from its own number and may delegate to any such committee or committees any or all of the authority of the board of directors. Each committee shall be comprised of at least such number of directors as may be required by the laws of the State of Ohio. The executive committee shall have and may exercise the powers of the board of directors in the interim between meetings of the board of directors and shall, at all times, be subject to any instructions issued by the board of directors. Such executive committee shall, from time to time, make a report of its acts and transactions to the board of directors. The act of a majority of the executive committee or any other committee of the board shall be effective in all respects as the act of such committee at a meeting, or any such committee may act by a writing signed by all of its members without a meeting. No committee may fill vacancies in the board of directors or in any committee of the board of directors; authorize distributions except according to a formula or method, or within limits prescribed by the board of directors; approve or propose to shareholders any actions that pursuant to applicable law require shareholder approval; or amend the Articles of Incorporation of the Company.

ARTICLE X

Shares

Section 1. <u>Certificates of Shares</u>. Each shareholder of the Company, whose shares are paid in full, shall be entitled to a certificate or certificates showing the number of shares registered in such shareholder's name on the books of the Company. Such certificates shall be issued in numerical order and signed by the chief executive officer or the president and the secretary, or such other officers or persons as may be authorized by the board of directors. The signature of any of said officers may be facsimile, engraved, stamped, or printed when such certificates are countersigned by a transfer agent or registrar. A full record of each certificate as issued shall be entered on the stock record books of the Company. No new certificate shall be issued until the former certificate for the same number of shares shall have been surrendered and canceled, except as provided for in Section 3 of this Article.

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Section 2. <u>Transfer of Shares</u>. The shares of the Company may be transferred on the books of the Company by the holder thereof in person or by a duly authorized attorney upon the surrender of the certificate therefor properly endorsed and assigned.

Section 3. <u>Lost, Stolen, Destroyed or Mutilated Certificates</u>. If any share certificate of this Company becomes worn, defaced, or mutilated, the secretary, upon presentation or surrender thereof, may order the same canceled, and may issue a new certificate in lieu thereof. If any share certificate is lost, stolen, or destroyed, the secretary may issue a new certificate in lieu thereof to the person entitled to such lost, stolen or destroyed certificate upon receiving an affidavit of loss and indemnity agreement containing such terms as may be approved by the chief legal and governance officer to protect the Company or any person, firm or other company from loss, cost or damage resulting from the issue of such new certificate.

Section 4. <u>Closing of Transfer Books</u>. The board of directors shall have the power to close the share transfer books of the Company for a period not to exceed forty-five (45) days preceding the date of any meeting of shareholders, or the date for payment of any dividend, or the date for the allotment of rights or the date when any change or conversion or exchange of capital shares shall go into effect; provided, however, that in lieu of closing the share transfer books, the board of directors may fix, in advance, a date not exceeding forty-five (45) days preceding the date of any meeting of shareholders, or the date for the payment of any dividend, or the date for the allotment of rights or the date when any change or conversion or exchange of shares shall go into effect, as a record date for the determination of the shareholders entitled to notice of, and eligible to vote at any such meeting, or entitled to receive payment of any such dividend or entitled to any such allotment of rights or to exercise the rights with respect to any such change, conversion, or exchange of shares, and in such cases only such shareholders as shall be shareholders of record on the date so fixed shall be entitled to such notice of and eligible to vote at such meeting, or to receive payment of such dividend, or to receive such allotment of rights or to exercise such rights, as the case may be, notwithstanding any transfer of any share on the books of the Company after any such record date fixed as aforesaid. The Company shall be entitled to treat the holder of record of any share or shares of the Company as the holder in fact thereof, and accordingly shall not be bound to recognize any equitable or other claim to, or interest in, such share on the part of any other person, whether or not it shall have express or other notice thereof, except as expressly provided by the laws of the State of Ohio.

Section 5. <u>Transfer Agents and Registrars</u>. The board of directors may appoint, or revoke the appointment of, transfer agents and registrars and may require all certificates for shares to bear the signatures of such transfer agents and registrars. The board of directors shall have authority to make all such rules and regulations as it may deem expedient concerning the issue, transfer, and registration of certificates for shares of the Company.

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ARTICLE XI

Indemnification and Non-Liability

Section 1. <u>Indemnification of Directors, Officers, and Employees</u>. The Company shall indemnify, to the full extent permitted or authorized by the laws of the State of Ohio, including any act or acts amendatory thereto, any person who was or is a party, or is threatened to be made a party, to any threatened, pending or completed action, suit or proceeding (a "Proceeding"), whether civil, criminal, administrative, or investigative by reason of the fact that such person is or was a director, trustee, officer, agent, or employee of the Company, or is or was serving at the request of the Company as a director, trustee, officer, agent, or employee of another company, domestic or foreign, non-profit or for profit, partnership, joint venture, trust, or other entity (each an "Indemnitee") against reasonable expenses, including attorneys' fees, judgments, fines, and amounts paid in settlement actually and reasonably incurred in connection with such Proceeding; provided, however, that the Company shall indemnify an Indemnitee in connection with a Proceeding, or part thereof, initiated by such Indemnitee only if such Proceeding, or part thereof, initiated by such Indemnitee was authorized by the board of directors.

Such indemnification, unless ordered by a court, shall be made as authorized in a specific case upon a determination that indemnification of the Indemnitee is proper under the circumstances because such Indemnitee has met the applicable standards of conduct set forth in the laws of the State of Ohio. Such determination shall be made: (i) by the board of directors by a majority vote of a quorum consisting of directors who were not, and are not, parties to or threatened with any such Proceeding; or (ii) if such a quorum is not obtainable, or if a majority vote of a quorum of disinterested directors so directs, in a written opinion by independent legal counsel meeting the requirements of independence prescribed by the laws of the State of Ohio; or (iii) by the shareholders; provided that shares owned or voted under the control of the director or directors who are, at that time, parties to the proceeding shall not be voted in the determination.

Unless ordered by a court, the Company shall not indemnify an Indemnitee in either of the following circumstances: (i) in connection with a Proceeding by or in the right of the Company, in which the Indemnitee was adjudged liable to the Company; or (ii) in connection with any other proceeding charging improper personal benefit of the Indemnitee, whether or not including action taken in the Indemnitee's official capacity, in which the Indemnitee was adjudged liable on the basis that personal benefit was improperly received by the Indemnitee.

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Section 2. <u>Other Rights</u>. The foregoing right of indemnification shall not be deemed exclusive of any other rights to which those seeking indemnification may be entitled under the Articles of Incorporation or this Code of Regulations, any agreement, vote of shareholders, vote of disinterested directors or otherwise, and shall continue as to a person who has ceased to be a director, officer, trustee, agent, or employee and shall inure to the benefit of the heirs, executors, and administrators of such person.

Section 3. <u>Advance Payment of Expenses</u>. The Company shall, in accordance with applicable law, pay any Indemnitee reasonable expenses, including attorney's fees, incurred in defending any Proceeding referred to in Section 1 of this Article XI, in advance of the final disposition of such Proceeding; provided, however, that the payment of such expenses in advance of the final disposition of such Proceeding shall be made only upon delivery to the Company of any legally required undertaking by or on behalf of such Indemnitee.

Section 4. <u>Contractual Rights; Applicability</u>. The right to be indemnified or to the reimbursement or advancement of expenses pursuant hereto (i) is a contract right based upon good and valuable consideration, pursuant to which the Indemnitee may bring suit as if the provision hereof were set forth in a separate written contract between the Company and such Indemnitee, (ii) is intended to be retroactive and shall be available with respect to events occurring prior to the adoption hereof, and (iii) shall continue to exist after the rescission or restrictive modification hereof with respect to events occurring prior thereto.

Section 5. <u>Requested Service</u>. Any person serving, in any capacity with (i) another company of which a majority of the shares entitled to vote in the election of its directors is held by the Company, or (ii) any employee benefit plan of the Company or of any company referred to in clause (i), shall be deemed to be doing so at the request of the Company.

Section 6. <u>Insurance</u>. The Company may purchase and maintain insurance on behalf of any person who is or was a director, trustee, officer, or employee of the Company, or is or was serving at the request of the Company as a director, trustee, officer, or employee of another company, domestic or foreign, non-profit or for profit, partnership, joint venture, trust, or other entity against any liability asserted against such person and incurred in any such capacity or arising out of the status as such, whether or not the Company would have the power to indemnify or advance expenses to such person against such liability under this Article XI.

Section 7. <u>Non-Liability</u>. A director shall not be personally liable to the Company or its shareholders for monetary damages for any action taken, or any failure to take any action, as a director, except for liability (i) for the amount of a financial benefit received by a director to which the director is not entitled, (ii) an intentional infliction of harm on the Company or the shareholders, or (iii) a violation of criminal law. No amendment to or repeal of this Code of Regulations shall apply to or have any effect on the liability or alleged liability of any Indemnitee for or with respect to any acts or omissions of such Indemnitee occurring prior to such amendment or repeal. If Ohio law is hereafter changed to permit further elimination or limitation of the liability of Indemnitees for monetary damages to the Company or its shareholders, then the liability of an Indemnitee to the Company or its shareholders shall be eliminated or limited to the full extent then permitted.

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ARTICLE XII

Seal

The seal of the Company shall be circular with the name of the Company around the margin and the word "SEAL" across the center. The corporate seal may be altered by order of the board of directors at any time.

ARTICLE XIII

Amendment to Code of Regulations

This Code of Regulations of the Company may be amended by addition, alteration, or repeal, at any meeting of the board of directors by an affirmative vote of a majority of all the directors.

ARTICLE XIV

Consent by Electronic Signature

To the extent permitted by the laws of the State of Ohio, a consent provided as an electronic signature shall be sufficient to reflect consent to actions in writing permitted by this Code of Regulations and the laws of the State of Ohio.

Adopted as of May 6, 2009

## Exhibit 99.27

**CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN REDACTED BECAUSE IT IS BOTH NOT MATERIAL AND WOULD BE** 

**COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED** 

**FUND PARTICIPATION AGREEMENT** 

This Fund Participation Agreement dated as of **December 20, 2022** ("<u>Agreement</u>") is made by and among **Nationwide Financial Services, Inc.** ("<u>NFS</u>"), on behalf of its subsidiaries listed on Exhibit A (collectively, "<u>Nationwide</u>" unless otherwise indicated) and the current and any future Nationwide separate accounts as applicable ("<u>Variable Accounts</u>"), **Credit Suisse Trust - Commodity Return Strategy Portfolio** ("<u>Trust</u>"), and **Credit Suisse Securities (USA), LLC** ("<u>Company</u>") which serves as distributor to the mutual funds listed on Exhibit B (each a "<u>Fund</u>" and collectively, the "<u>Funds</u>").

WHEREAS, the Trust is an open-end management investment company and was established for the purpose of serving as the investment vehicle for separate accounts established for variable life insurance contracts and variable annuity contracts to be offered by insurance companies which have entered into participation agreements substantially similar to this Agreement ("<u>Participating Insurance Companies</u>");<u> </u>and

WHEREAS, beneficial interests in the Trust are divided into several series of shares, each representing the interest in a particular managed portfolio of securities and other assets (mutual funds), and such series are further divided into classes of shares ("<u>classes</u>"); and

WHEREAS, the Company is the principal underwriter and distributor to the Trust; and

WHEREAS, the life insurance companies listed on Exhibit A (collectively, "<u>Nationwide Insurers</u>"), as depositors, have established (or will establish) the Variable Accounts to serve as investment vehicles in order to fund variable annuity contracts and variable life insurance policies offered by Nationwide ("<u>Contracts</u>"); and

WHEREAS, Nationwide, the Company, and the Trust wish to enter into an agreement providing for the purchase by the Variable Accounts of shares of the Funds to provide investment options for the Contracts; and

WHEREAS, Nationwide's broker-dealers listed on Exhibit A (collectively, "<u>Nationwide Broker-Dealers</u>"), in consideration of payments received, provide distribution and shareholder services, with administrative assistance from Nationwide Insurers, for and on behalf of the Funds in connection with the marketing of the Funds as investment options under the Contracts; and

WHEREAS, this Agreement is intended to be entered into in connection with a separate Fund Administrative Services Agreement between Nationwide and Credit Suisse Securities (USA), LLC, dated as of December 20, 2022 ("<u>Administrative Services Agreement</u>"), that provides for the provision of certain order-processing, recordkeeping, sub-accounting, reporting, and related administrative services by Nationwide with respect to the Funds.

NOW, THEREFORE, in consideration of their mutual promises, Nationwide, the Company, and the Trust agree as follows:

1. Definitions

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) " <u>1933 Act</u> " means the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) " <u>1934 Act</u> " means the Securities Exchange Act of 1934, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) " <u>1940 Act</u> " means the Investment Company Act of 1940, as amended.

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() "<u>12b-1 Fee</u>" means fees payable from a Fund's assets pursuant to a plan adopted by the Board of Trustees of the Trust pursuant to Rule 12b-1 under the 1940 Act for Distribution Services, as defined below, provided by Nationwide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) " <u>Code</u> " means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) " <u>Contract Owner</u> " means an owner or holder of a Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) " <u>Distribution Services</u> " means marketing and other services designed to promote the sale of
Contracts that feature Funds as underlying investment options, as further described in Exhibit C.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) " <u>FINRA</u> " means the Financial Industry Regulatory Authority, Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) " <u>SEC</u> " means the U.S. Securities and Exchange Commission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) " <u>Shares</u> " means the shares, including the particular class of shares, of the Funds set forth in
Exhibit B.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) " <u>USA Patriot Act</u> " means the United and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act of 2001, as amended.

2. <u>Distribution and Availability of Fund Shares in Connection with the Contracts</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Nationwide Broker-Dealers will perform Distribution Services in connection with certain classes of the Shares
as set forth in this Section 2 and in Exhibit C. The Company agrees to pay compensation to Nationwide Broker-Dealers for such Distribution Services based on the value of Shares of such classes held by the Variable Accounts in accordance with
Section 8 of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Shares may be purchased or redeemed by each Variable Account on behalf of Contract Owners on a daily basis at
the net asset value next computed after receipt and acceptance by the Company or its designee of the order for purchase or redemption. In purchasing and redeeming Shares for the Variable Accounts, Nationwide will comply with the terms and conditions
of this Agreement, and the terms and conditions of the Administrative Services Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company and the Trust agree to make Shares of the Funds available for as long as they are offered for
purchase at the applicable net asset value per share by Participating Insurance Companies and their separate accounts on those days on which the Trust calculates the net asset value of each Fund pursuant to rules of the SEC; provided, however, that
the Company and/or the Trust may refuse to sell Shares of any Fund to any person, or suspend or terminate the offering of Shares of any Fund if such action is required by law or by regulatory authorities having jurisdiction or is, in the
Company's or the Trust's sole discretion, acting in good faith and in light of its duties under federal and any applicable state laws, necessary and in the best interests of the shareholders of such Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company and the Trust agree that Shares of the Trust will be sold only to Participating Insurance Companies
and their separate accounts, qualified pension and retirement plans or such other persons as are permitted under applicable provisions of the Code and regulations promulgated thereunder, the sale to which will not impair the tax treatment currently
afforded the Contracts. No Shares of any Fund will be sold directly to the general public.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Neither the Company nor the Trust will sell Shares to any insurance company or separate account unless an
agreement containing provisions substantially the same as those in Sections 2, 3(g) and 6 of this Agreement are in effect to govern such sales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Nationwide has policies and procedures in effect to detect and deter short-term or disruptive trading practices
("Market Timing"). Company and the Trust acknowledge that Nationwide shall apply its own trade monitoring and restriction policies and procedures to trading of Fund Shares hereunder which may differ from the criteria set forth in the
Trust's prospectuses and SAIs.

3. <u>Representations and Warranties of Nationwide</u> 

Nationwide represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) NFS is a holding company duly organized and in good standing under applicable state law, and that its life
insurance companies have been duly organized and are in good standing under applicable state law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Nationwide Insurers have legally and validly established each Variable Account as an insurance company separate
account under applicable state law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) each Variable Account is or will be registered as a unit investment trust in accordance with the provisions of
the 1940 Act to serve as a segregated investment account for the Contracts, or is exempt from registration pursuant to Sections 3(c)(1) or 3(c)(7) thereof, and it will maintain such registration for so long as any Contracts are outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the Contracts are or will be registered under the 1933 Act or are exempt from registration thereunder, and the
Contracts will be issued and sold in compliance in all material respects with all applicable federal and state laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Nationwide Insurers will amend each registration statement under the 1933 Act for the Contracts and each
registration statement under the 1940 Act for the Variable Accounts from time to time as required in order to effect the continuous offering of the Contracts or as may otherwise be required by applicable law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Nationwide Insurers will register and qualify the Contracts for sale in accordance with the securities laws of
the various states only if, and to the extent, deemed necessary by Nationwide;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) subject to the Trust's representation in Section 4(f) below, the Contracts are currently and at the
time of issuance will be treated as annuity contracts and/or life insurance policies (as applicable) under applicable provisions of the Code, and that it will maintain such treatment and that it will notify the Company and the Trust immediately upon
having a reasonable basis for believing that the Contracts have ceased to be so treated or that they might not be so treated in the future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Nationwide Broker-Dealers are broker-dealers as defined in Section 3(a)(4) or 3(a)(5) of the 1934 Act that
are registered with the SEC pursuant to Section 15 of the 1934 Act; and are members of FINRA; and during the term of this Agreement, will abide by all of the rules and regulations of FINRA; and

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) its activities hereunder comply in all material respects with all provisions of federal and state securities
and insurance law applicable to such activities.

The foregoing representations and warranties will be true and correct at all times during the term of this Agreement.

4. <u>Representations and Warranties of the Trust</u> 

The Trust represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Trust is lawfully organized and validly existing under the laws of the Commonwealth of Massachusetts and it
does and will comply in all material respects with applicable provisions of the 1940 Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Shares sold pursuant to this Agreement will be registered under the 1933 Act and duly authorized for issuance
in accordance with applicable law, and the Trust is and will remain registered as an open-end, management investment company under the 1940 Act for as long as such Shares are sold and remain outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) it will amend the registration statement for the Trust's Shares under the 1933 Act and the 1940 Act from
time to time as required in order to effect the continuous offering of its Shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) it will register and qualify the Trust's Shares for sale in accordance with the laws of the various states
only if and to the extent deemed advisable by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) each Fund is currently qualified as a regulated investment company under Subchapter M of the Code and will make
every effort to maintain such qualification. Each Fund shall promptly notify Nationwide upon having a reasonable basis for believing that it has ceased to so qualify, or that it may not qualify as such in the future;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) each Fund currently complies with the diversification requirements of Section 817(h) of the Code and Section 1.817-5(b) of the Federal Tax Regulations, if required, and each Fund will make every effort to maintain compliance with such diversification requirements, unless such Fund is otherwise exempt from
Section 817(h) and/or except as otherwise disclosed in such Fund's prospectus. In the event that a Fund ceases to comply with Section 817(h), the Trust shall promptly notify Nationwide and it shall make every effort to remedy such
failure to comply within the time frame set forth by Section 817(h); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Funds have policies and procedures designed to deter Market Timing, as are disclosed in each Fund's
prospectus, and such policies will be uniformly and consistently applied to all Contract Owners unless otherwise disclosed in such Fund's prospectus.

The foregoing representations and warranties will be true and correct at all times during the term of this Agreement.

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4. <u>Representations and Warranties of the Company</u> 

The Company represents and warrants that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) [it (i) is a broker-dealer as defined in Section 3(a)(4) or 3(a)(5) of the 1934 Act; (ii) is
registered with the SEC pursuant to Section 15 of the 1934 Act and is a member of FINRA; (iii) serves as principal underwriter/distributor for the Trust; and (iv) during the term of this Agreement, will abide by any applicable state
and federal securities laws and all of the rules and regulations of FINRA; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) its activities hereunder comply in all material respects with all provisions of federal and state securities
law applicable to such activities.

The foregoing representations and warranties will be true and correct at all times during the term of this Agreement.

5. <u>Prospectuses and Other Sales Materials</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company will provide Nationwide with as many copies of the current Fund prospectuses (and any supplements
thereto) and/or shareholder reports for distribution to prospective Contract Owners in reasonable quantities except as otherwise mutually agreed by the parties hereto. Nationwide shall be responsible for distributing Fund prospectuses and other
Fund-issued documents as applicable, as described in Exhibit C, to Contract Owners. If requested by Nationwide, in lieu thereof, the Company will provide such documents, including final copies of current prospectuses set in type or camera-ready or
electronic format, and other assistance as is reasonably necessary in order for Nationwide to deliver to Contract Owners. The Company will, upon request, provide Nationwide with a copy of each Fund's prospectus through electronic means to
facilitate Nationwide's efforts to provide Fund prospectuses via electronic delivery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Trust will cause each Fund's prospectus to state that the SAI for such Fund is available and will
disclose how Contract Owners can obtain the SAI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Nationwide shall not give any information or make any representations or statements on behalf of the Trust or
the Company or concerning the Trust or the Company other than information or representations contained in and accurately derived from the Trust's registration statement or prospectuses (as such registration statement and prospectuses may be
amended or supplemented from time to time), reports of the Trust which are in the public domain or approved by the Trust or the Company for distribution to Contract Owners, or in sales literature or other promotional material provided or approved by
the Trust or the Company, except with the written permission of the Trust or the Company.

6. <u>Mixed</u> <u>& Shared Funding</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust represents that the Trust and its investment adviser have received an order from the SEC granting
Participating Insurance Companies and variable annuity separate accounts and variable life insurance separate accounts relief from the provisions of Sections 9(a), 13(a), 15(a), and 15(b) of the 1940 Act and Rules 6e-2(b)(15) and 6e-3(T)(b)(15) thereunder, to the extent necessary to permit Shares of the Trust to be sold to and held by variable annuity separate accounts and
variable life insurance separate accounts of both affiliated and unaffiliated Participating Insurance Companies (the " <u>Mixed and Shared Funding Order</u> "). If and to the extent that the Trust engages in mixed and shared funding as
contemplated by the Mixed and Shared Funding Order, this Section 6 shall apply.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) As set forth in the Mixed and Shared Funding Order, Nationwide agrees to report any potential or existing
conflicts promptly to the Trust's Board of Trustees, and in particular whenever voting instructions of contract owners are disregarded and recognizes that it will be responsible for assisting the Board of Trustees in carrying out its
responsibilities under the Mixed and Shared Funding Order. Nationwide agrees to carry out such responsibilities with a view to the interests of existing contract owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If a majority of the Board of Trustees, or a majority of disinterested board members (" <u>Disinterested Board Members</u> "), determines that a material irreconcilable conflict exists with regard to contract owner investments in the Fund, the Board of Trustees shall give prompt notice to all Participating Insurance Companies. If the Board of
Trustees determines that Nationwide is responsible for causing or creating said conflict, Nationwide shall at its sole cost and expense, and to the extent reasonably practicable (as determined by a majority of the Disinterested Board Members), take
such action as is necessary to remedy or eliminate the irreconcilable material conflict. Such necessary action may include, but shall not be limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Withdrawing the assets allocable to the Variable Account from the Fund and reinvesting such assets in a
different investment medium, or submitting the question of whether such segregation should be implemented to a vote of all affected Contract Owners; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Establishing a new separate account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If a material irreconcilable conflict arises as a result of a decision by Nationwide to disregard Contract
Owner voting instructions and said decision represents a minority position or would preclude a majority vote by all contract owners having an interest in the Fund, Nationwide may be required, at the Board of Trustee's election, to withdraw the
Variable Accounts' investment in the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) For the purpose of this section, a majority of the Disinterested Board Members shall determine whether or not
any proposed action adequately remedies any irreconcilable material conflict, but in no event will the Fund be required to bear the expense of establishing a new funding medium for any Contract. Nationwide shall not be required by this section to
establish a new funding medium for any Contract if an offer to do so has been declined by vote of a majority of the Contract Owners materially adversely affected by the irreconcilable material conflict.

7. <u>Expenses</u> 

The parties acknowledge and agree that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Nationwide is responsible for the expenses of the cost of registration of the Contracts, unless otherwise
exempt, and the costs of having the Contracts approved by state insurance authorities in the applicable jurisdictions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company and/or the Funds are responsible for the expenses of the cost of registration of the Funds'
Shares, and preparation of the Funds' prospectuses, SAIs, reports and the preparation of other related statements and notices required by law for distribution in reasonable quantities to prospective Contract Owners except as otherwise mutually
agreed upon by the parties to this Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except as otherwise provided herein or under related agreements, all expenses incident to the performance by
Nationwide under this Agreement shall be paid by Nationwide. Likewise, all expenses incident to the performance by the Company or the Funds under this Agreement shall be paid by the Company and/or the Funds.

8. <u>Compensation</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In consideration for the Distribution Services provided by Nationwide pursuant to this Agreement, the Company
agrees to pay Nationwide Broker-Dealers, for each Fund and class of Shares identified on Exhibit B, the respective 12b-1 Fee at the rate listed therein for each class, calculated as an annualized percentage of
the average daily net asset value of Shares of such class owned by Variable Accounts for the period in which such fees were earned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The parties acknowledge and agree that a Rule 12b-1 plan may be
terminated at any time, without the payment of any penalty, by the vote of a majority of the members of the Board of Trustees of the Trust who are not interested persons of the Trust and who have no direct or indirect financial interest in the
operation of the Rule 12b-1 plan or in any related agreements to the Rule 12b-1 plan, or by a majority of the outstanding voting securities of the applicable Fund or
Funds and/or applicable class or classes of such Fund or Funds, upon delivery of written notice thereof to the parties to this Agreement, and that no fees under such Rule 12b-1 plan shall thereafter be
payable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) 12b-1 Fees will be paid to Nationwide Broker-Dealers, or its designee,
on a monthly basis by electronic funds transfer as soon as practicable, but no later than 30 days after the end of the period in which they were earned. The 12b-1 Fee payment will be accompanied or preceded by
a statement showing the calculation of the amounts being paid by the Company for the relevant period and such other supporting data as may be reasonably requested by Nationwide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Subject to subsection (c) of this Section 8, the Company agrees that 12b-1 Fees will be paid to Nationwide Broker-Dealers or its designee according to this Agreement with respect to each applicable class of a Fund as long as Shares of such Fund are held by Variable Accounts.
The Company acknowledges that the fees that Nationwide charges to Contract Owners in connection with issuing, maintaining, or servicing the Contracts may be less than they otherwise would be due to the 12b-1 Fees that the Company agrees to pay Nationwide Broker-Dealers hereunder. This provision will survive the termination of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Each party may disclose that it has entered into this Agreement. Further, each of the parties may disclose the
annual fees payable to Nationwide Broker-Dealers under this Agreement.

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<u>9.</u> <u>Fund Substitution</u> 

If a party desires to remove a Fund from a Contract (other than the exercise by the Trust of its rights under Section 2(c) hereof), the party that initiates the removal will pay reasonable expenses incurred by the other party as a result of removing such Fund as an available investment option. The parties agree to provide reasonable advance notice of their election to remove a Fund. The Company and the Trust acknowledge that Nationwide may need to seek the approval of the SEC under Section 26(c) of the 1940 Act for any fund substitution. For the avoidance of doubt, if the Company recommends or initiates the removal of a Fund from a Contract, then the Company, and not the Trust, shall pay such reasonable expenses incurred by Nationwide as a result of removing such Fund as an available investment option.

<u>10.</u> <u>Privacy and Data Security</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The parties will keep confidential any information regarding the Trust, Nationwide, the Variable Accounts and
Contract Owners received in connection with providing services and meeting their respective obligations hereunder, except: (a) as necessary to provide the services or otherwise meet their respective obligations under this Agreement; (b) as
necessary to comply with applicable law; and (c) information regarding the Trust or Variable Accounts which is otherwise publicly available. The parties will maintain internal safekeeping procedures to safeguard and protect the confidentiality
of the data transmitted to another party or its designees or agents in accordance with Section 248.11 of Regulation S-P (17 CFR 248.1–248.30) (" <u>Reg</u> <u>S-P</u> "), and any other applicable federal or state privacy laws and regulations, including without limitation 201 CFR 17.00 et seq. and applicable security breach notification regulations
(collectively " <u>Privacy Laws</u> "). Each party shall use such data solely to effect the services contemplated herein, and none of the parties will directly, or indirectly through an affiliate, disclose any non-public personal information protected under Privacy Laws (" <u>Non-public</u> <u>Personal Information</u> ") received from another party to any person that
is not an affiliate, designee, service provider, or agent of the receiving party and provided that any such information disclosed to an affiliate, designee, service provider, or agent will be under the same or substantially similar contractual
limitations on use and non-disclosure and will comply with all legal requirements. The Company and the Trust will not use information, including Nonpublic Personal Information, directly or indirectly provided
to it by Nationwide or its designees or agents pursuant to this Agreement for the purpose of marketing to Contract Owners or any other similar purpose, except as may be agreed by the parties hereto. Except for confidential information consisting of Non-public Personal Information, which will be governed in all respects in accordance with the immediately preceding sentence, confidential information does not include information which (i) was publicly known
and/or was in the possession of the party receiving confidential information (" <u>Receiving Party</u> ") from other sources prior to the Receiving Party's receipt of confidential information from the party disclosing confidential
information (" <u>Disclosing Party</u> "), or (ii) is or becomes publicly available other than as a result of a disclosure by the Receiving Party or its representatives, or (iii) is or becomes available to the Receiving Party on a non-confidential basis from a source (other than the Disclosing Party) which, to the best of the Receiving Party's knowledge is not prohibited from disclosing such information to the Receiving Party by a legal,
contractual or fiduciary obligation to the Disclosing Party, or (iv) describes the annual fees payable to Nationwide Broker-Dealers under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each party will maintain and enforce safety and physical security procedures with respect to its access and
maintenance of Non-public Personal Information that (a) are at least equal to industry standards for such types of locations, (b) are in accordance with reasonable policies in these regards, and
(c) provide reasonably appropriate technical and organizational safeguards

------

against accidental or unlawful destruction, loss, alteration, or unauthorized disclosure or access of Non-public Personal Information under this Agreement. Without limiting the generality of the foregoing, each party will take all reasonable measures to secure and defend its location and equipment against cyber-attacks, "hackers" and others, both internal and external, who may seek, without authorization, to modify or access its systems or the information found therein. Each party will periodically test its systems for potential areas where security could be breached. Each party will report to the other party promptly any breaches of security or unauthorized access to its systems that it detects or becomes aware of that would require notification to consumers and/or regulators, as may be required by applicable federal and/or state laws. Each party will use reasonable and diligent efforts to remedy such breach of security or unauthorized access in a timely manner. Each party maintains the right to reasonably audit its data in the other party's systems environment no more than annually, upon 60 days prior written notice, and at the auditing party's sole expense and cost.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) All Non-public Personal Information must be stored in a physically and
logically secure environment that reasonably attempts to protect it from unauthorized access, modification, theft, misuse, and destruction.

11. <u>Anti-Money Laundering</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Nationwide agrees that the companies listed on Exhibit A will comply with all applicable anti-money laundering
laws, rules and regulations, including but not limited to, the Bank Secrecy Act (" <u>BSA</u> "), its implementing regulations, and the USA Patriot Act, which amends certain sections of the BSA and sets forth certain other anti-money
laundering requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company agrees that it will comply with all applicable anti-money laundering laws, rules and regulations,
including but not limited to, the BSA, its implementing regulations, and the USA Patriot Act, which amends certain sections of the BSA and sets forth certain other anti-money laundering requirements.

12. <u>Maintenance of Records</u> 

Each party will maintain and preserve all records as required by law to be maintained and preserved in connection with the provision of services contemplated hereunder. During the term of this Agreement, upon any reasonable request from the Company, the Trust or their respective representatives, Nationwide shall (i) provide to the Company, the Trust and/or their respective representatives reasonable access during normal business hours to review and audit the books and records (including any such materials developed on or after the date of this Agreement by a party hereto or its affiliates) under the control of Nationwide pertaining to the services to be provided under this Agreement; provided that such access shall be preceded by 30 days written notice, and (ii) permit the Company, the Trust or their respective representatives to make copies of such records, in each case at no cost to Nationwide. Nothing herein shall require Nationwide to disclose any information to the Company, the Trust or their respective representatives (i) in contravention of the terms of a non-disclosure agreement with a third party, (ii) that may constitute privileged attorney-client communications or attorney work product and the transfer of which, or the provision of access to which, as reasonably determined by Nationwide's counsel, constitutes a waiver of any such privilege, or (iii) if the provision of access to such document (or portion thereof) or information, as determined by Nationwide's counsel, would reasonably be expected to conflict with applicable law.

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13. <u>Indemnification</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Nationwide agrees to indemnify and hold harmless the Company, the Trust, and each of its respective officers,
trustees, directors, employees, agents, affiliated persons, subsidiaries and each person, if any, who controls the Company and/or the Trust within the meaning of the 1940 Act (collectively, the " <u>Fund Indemnified Parties</u> " for
purposes of this section) against any losses, claims, expenses, damages, liabilities (including amounts paid in settlement thereof), and/or litigation expenses (including reasonable legal and other expenses) (collectively the "Losses"), to
which the Fund Indemnified Parties may become subject to the extent such Losses result from (i) Nationwide's bad faith, negligence, or willful misconduct in performing its obligations under this Agreement; (ii) any material breach by
Nationwide of any provision of this Agreement or of any law, rule, or regulation applicable to its obligations under this Agreement; or (iii) any breach by Nationwide of a representation or warranty made in this Agreement. Nationwide shall not
be liable for indemnification hereunder to the extent such Losses are attributable to the bad faith, negligence, or willful misconduct of the Company or the Trust in performing their obligations under this Agreement. Nationwide further agrees to
indemnify and hold harmless the Fund Indemnified Parties against any Losses that arise out of or are based upon any untrue or alleged untrue statement or misrepresentation of any material fact contained in any Contract registration statement or
prospectus, or any omission to state therein a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, except to the extent that such statement or omission is based on
information furnished to Nationwide by or on behalf of the Company or the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company agrees to indemnify and hold harmless Nationwide and its officers, directors, employees, agents,
affiliated persons, subsidiaries and each person, if any, who controls Nationwide within the meaning of the 1940 Act (collectively, the " <u>Nationwide Indemnified Parties</u> " for purposes of this section) against any Losses to which the
Nationwide Indemnified Parties may become subject to the extent such Losses result from (i) the Company's or the Trust's bad faith, negligence, or willful misconduct in performing its obligations under this Agreement; (ii) any
material breach by the Company or the Trust of any provision of this Agreement or of any law, rule, or regulation applicable to its obligations under this Agreement; or (iii) any breach by the Company or the Trust of a representation or
warranty made in this Agreement. The Company shall not be liable for indemnification hereunder to the extent such Losses are attributable to the bad faith, negligence, or willful misconduct of Nationwide in performing its obligations under this
Agreement. The Company further agrees, on behalf of itself and the Trust, to indemnify and hold harmless the Nationwide Indemnified Parties against any Losses that arise out of or are based upon any untrue or alleged untrue statement or
misrepresentation of any material fact contained in any Fund registration statement or prospectus, or any omission to state therein a material fact necessary in order to make the statements made, in light of the circumstances under which they were
made, not misleading, except to the extent that such statement or omission is based on information furnished to the Company or the Trust by or on behalf of Nationwide.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding the foregoing, in no event shall either party be liable to the other for special, indirect, or
consequential damages, or lost profits, or loss of business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Promptly after receipt by an indemnitee under this section of notice of the commencement of a claim or action
that may be covered hereunder, the indemnitee will notify the indemnitor in writing of the commencement thereof. The omission to so notify the indemnitor will not relieve it from any liability that it may have to any indemnitee under this section
except that the failure of the indemnitee so to notify the indemnitor will relieve the indemnitor of its indemnity obligation with respect to that action to the extent that such omission results in the forfeiture of

------

the indemnitor's substantive rights or defenses. If any such action is brought against any indemnitee and it notifies the indemnitor of the commencement thereof as specified above, the indemnitor will be entitled to assume the defense thereof with counsel reasonably satisfactory to the indemnitee, and the defendant or defendants in such action entitled to indemnification hereunder will have the right to participate in the defense or preparation of the defense of any such action. In the event the indemnitor does elect to assume the defense of any such action, and to retain counsel as provided above, the indemnitees in such action will bear the fees and expenses of any additional counsel retained by any of them; but in case the indemnitor does not elect to assume the defense of any such action, the indemnitor will reimburse the indemnitee(s) named as defendant(s) in such action for: (i) the fees and expenses of counsel agreed upon by indemnitor and indemnitee; or (ii) for all reasonable fees and expenses of counsel retained by the indemnitee(s) in the event that the indemnitor is found liable under the terms of this Agreement or applicable law for the defense of such indemnitee(s). If the indemnitor assumes the defense of any such action, the indemnitor will not, without the prior written consent of the indemnitee(s), settle or compromise the liability of the indemnitee(s) in such action, or permit a default or consent to the entry of any judgment in respect thereof, unless in connection with such settlement, compromise, or default or consent, each indemnitee receives from the claimant a release from all liability in respect of such claim. The party seeking indemnification will not confess any claim or make any compromise in any case in which the other party may be required to indemnify except with the other party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The provisions of this Section 13 shall survive the termination of this Agreement.

14. <u>Applicable Law</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement will be construed and the provisions hereof interpreted under and in accordance with the laws of
the State of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement will be subject to the provisions of the 1933 Act, the 1934 Act, and the 1940 Act, and the rules
and regulations and rulings thereunder, including such exemptions from those statutes, rules, and regulations as the SEC may grant (including, but not limited to, the Mixed and Shared Funding Order) and the terms hereof will be interpreted and
construed in accordance therewith.

15. <u>Termination</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) This Agreement may be terminated by any party for any reason upon sixty (60) days' advance written
notice delivered to the other parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) This Agreement may be terminated at the option of any party upon institution of formal proceedings against
another party by FINRA, the SEC, the insurance commission of any state, or any other regulatory body regarding such other party's duties under this Agreement or related to the sale of the Contracts, the operation of a Variable Account, the
administration of the Contracts, or the purchase of the Trust's shares, or an expected or anticipated ruling, judgment or outcome which would, in the terminating party's reasonable judgment, materially impair the other party's ability
to meet and perform its obligations and duties hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Agreement may be terminated at the option of the Company or the Trust if the Internal Revenue Service
determines that the Contracts cease to qualify as annuity contracts or life insurance policies, as applicable, under the Code, or if the Company or the Trust reasonably believes that the Contracts may fail to so qualify.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) This Agreement may be terminated by either the Company or the Trust if it determines, in its sole judgment
exercised in good faith, that either (1) Nationwide shall have suffered a material adverse change in its business or financial condition, or (2) Nationwide shall have been the subject of material adverse publicity which is likely to have a
material adverse impact upon the business and operations of either the Trust or the Company, or (3) Nationwide breaches any obligation or representation under this Agreement in a material respect and such breach shall continue un-remedied for thirty (30) days after receipt by Nationwide of notice in writing from the Company or the Trust of such breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) This Agreement may be terminated at the option of Nationwide if (i) the Internal Revenue Service
determines that any Fund fails to qualify as a "Regulated Investment Company" under the Code or fails to comply with the diversification requirements of Section 817(h) of the Code, or (ii) Nationwide shall determine, in its sole
judgment exercised in good faith, that either (1) the Trust or the Company shall have suffered a material adverse change in its business or financial condition, or (2) the Trust or the Company shall have been the subject of material
adverse publicity which is likely to have a material adverse impact upon the business and operations of Nationwide, or (3) The Company or the Trust breaches any obligation or representation under this Agreement in a material respect and such
breach shall continue un-remedied for thirty (30) days after receipt of notice in writing to the Company or the Trust, as applicable, from Nationwide of such breach.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Notwithstanding any termination of this Agreement pursuant to any of the provisions of this Section 15,
the Company and the Trust will, upon the mutual agreement of the parties hereto, continue to make available additional Shares of the Trust pursuant to the terms and conditions of this Agreement for all existing Contracts in effect on the date a
termination notice is given under this Agreement (hereinafter referred to as " <u>Existing Contracts</u> "). Specifically, without limitation, if the Company and the Trust so agree to make additional Trust Shares available, the owners of the
Existing Contracts will be permitted to reallocate investments in the Trust (as in effect on such date), redeem investments in the Trust, and/or invest in the Trust upon the making of additional purchase payments/premium payments under the Existing
Contracts, and the provisions of this Agreement shall continue in effect as to the Existing Contracts until they no longer are invested in Trust Shares.

16. <u>Notices</u> 

Each notice or other communication required or permitted to be made or given by a party pursuant to this Agreement shall be given in writing and delivered by U.S. first class mail or overnight courier, in each case prepaid and addressed, to:

<u>Nationwide</u> 

Nationwide Financial Services, Inc.

One Nationwide Plaza, 5-02-210A

Columbus, Ohio 43215

Attention: VP, Head of Fund Operations

------

<u>Trust</u> 

Credit Suisse Trust

Credit Suisse Asset Management, LLC

Eleven Madison Avenue

New York, NY 10010

Attention: General Counsel, Credit Suisse Asset Management, LLC

<u>Company</u> 

Credit Suisse Securities (USA), LLC

Eleven Madison Avenue

New York, NY 10010

USA

Attention: Ben Alibrandi

Any party may change its address by notifying the other party(ies) in writing. Notices will be deemed given upon dispatch.

<u>17.</u> <u>Entire Agreement</u> 

This Agreement, together with all contemporaneous exhibits, sets forth the entire understanding of the parties with respect to the subject matter of this Agreement and supersedes any and all prior discussions, representations, and understandings, whether written or oral, between the parties related to the subject of this Agreement. For the avoidance of doubt, this Agreement specifically supersedes the Fund Participation Agreement, dated January 3, 2000, as amended, by and among Nationwide Financial Services, Inc., Credit Suisse Asset Management Securities, Inc., and Credit Suisse Asset Management, LLC.

<u>18.</u> <u>Assignment</u> 

This Agreement shall be binding upon and shall inure to the benefit of the parties and their respective successors and assigns; provided, however, that neither this Agreement nor any rights, privileges, duties or obligations of the parties may be assigned by any party without the written consent of the other parties (except that a party may assign rights, privileges, duties, or obligations to an affiliate).

<u>19.</u> <u>Waiver</u> 

No term or provision of this Agreement may be waived or modified unless done so in writing and signed by the party against whom such waiver or modification is sought to be enforced. Either party's failure to insist at any time on strict compliance with this Agreement or with any of the terms under this Agreement or any continued course of such conduct on its part will in no event constitute or be considered a waiver by such party of any of its rights or privileges.

<u>20.</u> <u>Force Majeure</u> 

No party to this Agreement will be responsible for delays resulting from acts beyond the reasonable control of such party, provided that the nonperforming party uses commercially reasonable efforts to avoid or remove such causes of nonperformance and continues performance hereunder as soon as practicable as soon as such causes are avoided, rectified, or removed.

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21. <u>Other Matters</u> 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The section headings contained herein are for reference purposes only and will not in any way affect the
meaning or interpretation of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If any portion of this Agreement shall be held or made invalid by a court decision, statute, rule, or
otherwise, the remainder of the Agreement shall not be affected thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The rights, remedies and obligations contained in this Agreement are cumulative and are in addition to any and
all rights, remedies, and obligations, at law or in equity, which the parties to this Agreement are entitled to under state and federal laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Each of the parties acknowledges and agrees that this Agreement and the arrangements described in this
Agreement are intended to be non-exclusive and that each of the parties is free to enter into similar agreements and arrangements with other entities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Except to the extent required by applicable law, no party shall use any other party's names, logos,
trademarks, or service marks, whether registered or unregistered, without the prior consent of such party. Notwithstanding the foregoing, Nationwide may identify the Funds in a listing of funds available as underlying investment options in the
Contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Nothing in this Agreement shall be deemed to create a partnership or joint venture by and among the parties
hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) This Agreement may not be amended or modified except by a written amendment, which includes any amendments to
the exhibits, executed by all parties to the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Except as expressly set forth herein, no provision of this Agreement is intended or shall be construed to
provide or create any rights or benefits in any third party.

------

Each party hereby represents and warrants to the other that the persons executing this Agreement on its behalf are duly authorized and empowered to execute and deliver the Agreement and that the Agreement constitutes a legal, valid, and binding obligation, and is enforceable in accordance with its terms.

This Agreement may be executed by electronic signature and it may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

---

| | |
|:---|:---|
| **NATIONWIDE FINANCIAL SERVICES, INC.** | **NATIONWIDE FINANCIAL SERVICES, INC.** |
| By: | /s/ John A. Reese |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John A. Reese | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John A. Reese |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Assistant Vice President | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Assistant Vice President |
| **CREDIT SUISSE TRUST - COMMODITY RETURN STRATEGY PORTFOLIO** | **CREDIT SUISSE TRUST - COMMODITY RETURN STRATEGY PORTFOLIO** |
| By: | /s/ Karen Regan |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Karen Regan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Karen Regan |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Vice President and Secretary | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Vice President and Secretary |
| **CREDIT SUISSE SECURITIES (USA), LLC** | **CREDIT SUISSE SECURITIES (USA), LLC** |
| By: | Ben Alibrandi |
| Title: Managing Director | Title: Managing Director |

---

------

**EXHIBIT A NFS** 

**SUBSIDIARIES** 

**<u>Subsidiary Life Insurance Companies</u>**

Nationwide Life Insurance Company

Nationwide Life and Annuity Insurance Company

Jefferson National Life Insurance Company

Jefferson National Life Insurance Company of New York

**<u>Other Subsidiaries</u>**

Nationwide Investment Services Corporation

Any other existing or future direct or indirect subsidiaries of Nationwide Financial Services, Inc. issuing Variable Accounts, or performing duties or obligations hereunder on behalf of Nationwide, provided that such subsidiary is duly formed, validly existing, and has all necessary licenses.

------

**EXHIBIT B** 

**FUNDS AND COMPENSATION** 

All current and future funds available for sale through the Variable Accounts, including but not limited to any funds listed below.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **[Legal Fund Name and/or Share Class]** | **[CUSIP]** | **[CUSIP]** | **12b-1<br>Fee (bps)** | **12b-1<br>Fee (bps)** |
|  Trust Commodity Return Strategy Portfolio - Class 1 |  | 22544K888 |  | [\*\*\*] |
|  Trust Commodity Return Strategy Portfolio - Class 2 |  | 22542L847 |  | [\*\*\*] |

---

------

**EXHIBIT C** 

**DISTRIBUTION SERVICES** 

Pursuant to this Agreement, Nationwide's Broker-Dealers shall perform and incur expenses for distribution and related shareholder services in exchange for 12b-1 Fees, including, but not limited to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Supporting and responding to investment inquiries about the Trust and the Funds from registered
representatives, investment advisors, and Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Distributing Fund prospectuses, SAIs, and semi-annual and annual reports to prospective Contract Owners.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Maintaining sales-related electronic information systems and other systems, including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Advisor website and tools

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Customer relationship management systems

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Producer information data warehouses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. All licensing platforms e. Sales reporting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Printing and distributing advertising, including but not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Marketing content to support the acquisition of new Contract Owners

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Product illustrations

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Sales literature

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Customer enrollment materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. Regulatory filings of advertising materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Furnishing the Company with records of sales, redemptions and repurchases of Shares for marketing/distribution
purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Preparing distribution-related reports for the Company as shall reasonably be required by the Company that have
been previously agreed upon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. Providing such other distribution services as the Company may reasonably request that have been previously
agreed upon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Bearing expenses associated with the foregoing, as well as expenses associated with compensating broker-dealers
selling Contracts that include the Fund(s) as underlying investment options and educating their registered representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. Providing office space and equipment, telephone facilities, and personnel (which may be any part of the space,
equipment, and facilities currently used in Nationwide's business, or any personnel employed by Nationwide) as reasonably necessary to provide the foregoing services.

## Exhibit 99.27

July 1, 2025

Board of Directors <br>Nationwide Life Insurance Company <br>One Nationwide Plaza <br>Columbus, Ohio 43215

Re:

Nationwide Life Insurance Company <br>Nationwide Jefferson National VA Separate Account 1 <br>Monument Advisor NY and Monument Advisor Select NY Individual Flexible Premium Deferred Variable Annuity Contracts <br>Registration Statement File No. 811-22994

Ladies and Gentlemen:

I have acted as counsel to Nationwide Life Insurance Company ("NLIC"), an Ohio insurance company, and to its Nationwide Jefferson National VA Separate Account 1 (the "Separate Account"), and I have participated in the preparation and review of the Initial Registration Statement on Form N-4 filed with the Securities and Exchange Commission under the Securities Act of 1933, as amended, primarily for the purpose of changing the depositor of the Separate Account, through which the Monument Advisor NY and Monument Advisor Select NY Individual Flexible Premium Deferred Variable Annuity Contracts ("Contracts") are issued, from Jefferson National Life Insurance Company of New York ("JNL NY") to NLIC as a result of the merger of JNL NY with and into NLIC.

I have examined the Initial Registration Statement on Form N-4 for the Contracts, including all related documents and exhibits, and reviewed such questions of law as I considered necessary and appropriate. On the basis of such examination and review, it is my opinion that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) NLIC is a corporation duly organized and validly existing as a stock life insurance company under the laws of the State of Ohio and is duly authorized to issue and sell life insurance and annuity contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The Separate Account has been properly created and is a validly existing separate account pursuant to the laws of the State of Ohio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The issuance and sale of the Contracts have been duly authorized by NLIC. The Contracts and interests therein, when issued and sold in the manner stated in the Initial Registration Statement, will be legal and binding obligations of NLIC in accordance with their terms.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) To the extent so provided under the Contracts, that portion of the assets of the Separate Account equal to the reserves and other contract liabilities with respect to the Separate Account, will not be chargeable with liabilities arising out of any other business that NLIC may conduct.

I hereby consent to the filing of this opinion as an exhibit to the Initial Registration Statement filed on Form N-4 for the Contracts.

Very truly yours,

/s/ Stephen M. Jackson <br>Stephen M. Jackson <br>Senior Counsel <br>Nationwide Life Insurance Company

------

## Exhibit 99.27

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated April 1, 2025, with respect to the financial statements of the sub-accounts that comprise Nationwide Jefferson National VA Separate Account 1 (formerly, Jefferson National Life of New York Annuity Account 1), and the related notes (collectively, the financial statements), included herein, and to the reference to our firm under the heading "Independent Registered Public Accounting Firm" in the Statement of Additional Information.

/s/ KPMG LLP

Columbus, Ohio <br>June 27, 2025

------

**Consent of Independent Registered Public Accounting Firm**

We consent to the use of our report dated March 20, 2025, with respect to the statutory financial statements and financial statement schedules of Nationwide Life Insurance Company, included herein, and to the reference to our firm under the heading "Independent Registered Public Accounting Firm" in the Statement of Additional Information.

/s/ KPMG LLP

Columbus, Ohio <br>June 27, 2025

------

## Exhibit 99.27

**Monument Advisor**<sup>®</sup> **NY**

**Individual Variable Annuity**

Issued by

**Nationwide Life Insurance Company**

through its

**Nationwide Jefferson National VA Separate Account 1**

**Summary Prospectus for New Investors**

July 1, 2025

The contracts described in this prospectus are only available in the state of New York.

This summary prospectus summarizes key features of the contract.

Before you invest, you should also review the statutory prospectus for the contract, which contains more information about the contract's features, benefits, and risks. You can find this document and other information about the contract online at https://nationwide.onlineprospectus.net/NW/C000148690NW/index.php?ctype=product_prospectus. You can also obtain this information at no cost by calling 1-866-667-0561 or by sending an email request to NAS_Service@nationwide.com.

**If you change your mind about owning the Contract, you may cancel the Contract within 10 days after receiving it (or 60 days if it is a Replacement Contract) and We will cancel the Contract. Nationwide deems this period as beginning on the date the Contract is posted to your Secure Online Account. If you elect to receive the Contract in paper, Nationwide deems this period as ending 15 days after We mail the Contract, or 60 days if it is a Replacement Contract. On the day We receive your request We will return your Contract Value. This refund amount will be the Contract Value plus the amount of fees and other charges deducted from the Contract via redemption of Accumulation Units, if applicable, such as Subscription Fees. The amount refunded will not include any underlying fund charges or Contract fees that were assessed daily as part of the Accumulation Unit value calculation during the free look period. See *Free Look* in the statutory prospectus for additional details.**

You should review the statutory prospectus, or consult with your financial professional, for additional information about the specific cancellation terms that apply.

Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at Investor.gov.

This Contract may be available through third-party financial intermediaries who charge an investment advisory fee for their services, and these fees are in addition to contract fees and expenses described in this prospectus. If the Owner elects to pay the investment advisory fees from the Contract Value, this may reduce the death benefit and other benefits under the Contract, may be subject to federal and state income taxes, and may be subject to a 10% federal tax penalty.

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | **Page** |
| **[Definitions of Special Terms](#xx_88e1078e-7fa9-4a18-85bd-00cee0f462b7_1)** | &nbsp;&nbsp; 3<br>|
| **[Important Information You Should Consider About the Contract](#xx_969a5219-049f-46d9-9b94-4c8bbd042a6e_1)** | &nbsp;&nbsp; 5<br>|
| **[Overview of the Contract](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_1)** | &nbsp;&nbsp; 7<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Purpose of the Contract](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_1) | &nbsp;&nbsp; 7<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Phases of the Contract](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_1) | &nbsp;&nbsp; 7<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Contract Features](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_1) | &nbsp;&nbsp; 7<br>|
| **[Benefits Under the Contract](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_2)** | &nbsp;&nbsp; 8<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Standard Benefits Table](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_2) | &nbsp;&nbsp; 8<br>|
| **[Buying the Contract](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_2)** | &nbsp;&nbsp; 8<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Purchase Payments](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_2) | &nbsp;&nbsp; 8<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Allocation of Purchase Payments](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_3) | &nbsp;&nbsp; 9<br>|
| **[Making Withdrawals: Accessing the Money in Your Contract](#xx_4c79fa8b-b35f-4276-ba1f-fdf02c7442b1_3)** | &nbsp;&nbsp; 9<br>|
| **[Additional Information About Fees](#xx_cd50fa61-f529-436b-ba50-96e1bbc9591f_1)** | &nbsp;&nbsp; 10<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Example](#xx_cd50fa61-f529-436b-ba50-96e1bbc9591f_1) | &nbsp;&nbsp; 10<br>|
| **[Appendix: More Information About the Investment Portfolios](#xx_15e53dac-0ad7-429a-8d9a-03cad077fefd_1)** | &nbsp;&nbsp; 12 |

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**Definitions of Special Terms**

Because of the complex nature of the Contract, We have used certain words or terms in this prospectus, which may need additional explanation. We have identified the following as some of these words or terms.

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| |
|:---|
| **Accumulation Period:** The period during which you invest money in your Contract. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Accumulation Unit:** A measurement We use to calculate the value of the variable portion of your Contract during the <br> Accumulation Period.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Advisor Fee:** Any fee charged by any Investment Advisor or financial professional you hire and processed as such by <br> the Company as a withdrawal from the Contract Value.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Annuitant(s) :** The natural person(s) on whose life (lives) We base Annuity Payments. On or after the Annuity Date, the <br> Annuitant shall also include any joint Annuitant. In the event of joint Annuitants, the life of the primary Annuitant is <br> used to determine Annuity Payments. If the Contract is owned by a non-natural Owner and joint Annuitants are <br> named, the Death Benefit Amount will be calculated upon the death of the first Annuitant to die.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Annuity Date :** The date on which Annuity Payments are to begin, as selected by you, or as required by the Contract or <br> by state or federal law. If a prior date is not selected by you, the Annuity Date is the Maximum Maturity Date. For <br> joint Annuitants all provisions are based on the age of the primary Annuitant.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Annuity Options:** Income plans which can be elected to provide periodic Annuity Payments beginning on the Annuity <br> Date.<br>|
| **Annuity Payments:** Periodic income payments provided under the terms of one of the Annuity Options. |
| **Annuity Period:** The period during which We make income payments to you. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Beneficiary :** The person(s) or entities, designated to receive any benefits under the Contract if you or, in the case of a <br> non-natural Owner, the Annuitant dies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Business Day:** Generally, any day on which the New York Stock Exchange is open for trading. Our Business Day ends <br> at the closing of regular trading on the New York Stock Exchange. Some of the Investment Options may impose <br> earlier deadlines for trading. These deadlines are described in further detail under the heading "Transfers."<br>|
| **Code:** The Internal Revenue Code of 1986, as amended. |
| **Company :** Nationwide Life Insurance Company, also referred to as Nationwide, We, Us, and Our. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Contract :** The Monument Advisor® NY individual variable annuity contract, which provides variable investment options <br> offered by the Company.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Contract Value:** Your Contract Value is the sum of amounts held under your Contract in the various Sub-accounts of <br> the Separate Account.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Death Benefit Amount:** The Death Benefit Amount is the amount payable to the Beneficiary upon the death of the <br> Owner, or for a Contract owned by a non-natural person, the death of the Annuitant.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Free Look Period:** If you change your mind about owning the Contract, the Free Look Period is the period of time <br> within which you may cancel your Contract. This period of time is 10 days from receipt, or 60 days if it is a <br> Replacement Contract.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Investment Advisor:** A registered investment adviser, an investment adviser who is exempt from registration with the <br> Securities and Exchange Commission or other adviser selected by you to provide you asset allocation and <br> investment advisory services.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Investment Options:** The investment choices available to Owners. These choices include the Sub-accounts of the <br> Separate Account.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Investment Portfolio(s):** The variable Investment Options available under the Contract. Each Sub-account has its <br> own investment objective and is invested in the underlying Investment Portfolio.<br>|

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp; **Low Cost Fund Platform Fee:** Fee imposed by the Company on Contract Value invested in certain Sub-accounts that <br> invest in low cost Investment Portfolios. This fee is assessed daily as part of the daily Accumulation Unit value <br> calculation. See *Low Cost Fund Platform Fee* for further details, including a list of the Sub-accounts for which the <br> Company currently imposes the fee.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Maximum Maturity Date:** The date on which the Annuitant attains age 100. For joint Annuitants, all provisions which <br> are based on age are based on the age of the primary Annuitant.<br>|
| **Non-Natural Owner:** The trust or entity (*e.g.* CRT, Family Trust, Corporation, Other) that will own the Contract. |
| **Owner:** You, the purchaser of the Contract, are the Owner. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Purchase Payment:** The money you give Us to buy the Contract, as well as any additional money you give Us to <br> invest in the Contract after you own it.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Replacement Contract:** A Contract purchased with the proceeds from another contract (a contract issued by the <br> Company and/or another insurance company).<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Secure Online Account:** Your Secure Online Account is a password protected electronic account through which you <br> can access personal documents relating to your Contract, such as transaction confirmations, periodic account <br> statements and other personal correspondence. You create your Secure Online Account by going to our Website <br> after you purchase the Contract and we maintain it for you on our Website thereafter.<br>|
| **Separate Account:** Nationwide Jefferson National VA Separate Account 1, which invests in the Investment Portfolios. |
| **Sub-account :** A segment within the Separate Account which invests in a single Investment Portfolio. |
| **Subscription Fee:** $20 per month fee charged by Us to issue and administer the Contract. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Website:** https://www.nationwideadvisory.com. You may obtain information about your Contract and request certain <br> transactions through the Website.<br>|

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**Important Information You Should Consider About the Contract** 

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| | | | |
|:---|:---|:---|:---|
| **FEES AND EXPENSES**<br> (see *Additional Information About Fees* later in this summary prospectus and *Expenses* in the statutory prospectus) | **FEES AND EXPENSES**<br> (see *Additional Information About Fees* later in this summary prospectus and *Expenses* in the statutory prospectus) | **FEES AND EXPENSES**<br> (see *Additional Information About Fees* later in this summary prospectus and *Expenses* in the statutory prospectus) | **FEES AND EXPENSES**<br> (see *Additional Information About Fees* later in this summary prospectus and *Expenses* in the statutory prospectus) |
| Charges for Early <br> Withdrawals<br>|  |  |  |
| Transaction Charges | &nbsp;&nbsp; We currently do not but reserve the right to assess a Transfer Fee in the event of excessive <br> transfers (see *Transfer Fee* in the statutory prospectus). | &nbsp;&nbsp; We currently do not but reserve the right to assess a Transfer Fee in the event of excessive <br> transfers (see *Transfer Fee* in the statutory prospectus). | &nbsp;&nbsp; We currently do not but reserve the right to assess a Transfer Fee in the event of excessive <br> transfers (see *Transfer Fee* in the statutory prospectus). |
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; The table below describes the fees and expenses that you may pay each year, depending <br> on the options chosen. Please refer to your contract specifications page for information <br> about the specific fees you will pay each year based on the options you have elected. The <br> fees and expenses do not reflect any investment advisory fees paid to financial <br> professionals from Contract Value or other assets you own; if those charges were <br> reflected, the fees and expenses would be higher. | &nbsp;&nbsp; The table below describes the fees and expenses that you may pay each year, depending <br> on the options chosen. Please refer to your contract specifications page for information <br> about the specific fees you will pay each year based on the options you have elected. The <br> fees and expenses do not reflect any investment advisory fees paid to financial <br> professionals from Contract Value or other assets you own; if those charges were <br> reflected, the fees and expenses would be higher. | &nbsp;&nbsp; The table below describes the fees and expenses that you may pay each year, depending <br> on the options chosen. Please refer to your contract specifications page for information <br> about the specific fees you will pay each year based on the options you have elected. The <br> fees and expenses do not reflect any investment advisory fees paid to financial <br> professionals from Contract Value or other assets you own; if those charges were <br> reflected, the fees and expenses would be higher. |
| Ongoing Fees and <br> Expenses (annual <br> charges) | **Annual Fee** | **Minimum** | **Maximum** |
| Ongoing Fees and <br> Expenses (annual <br> charges) | Base Contract | 0.24%<sup>1</sup> <br>| 0.24%<sup>1</sup> <br>|
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; Investment Portfolios (underlying mutual fund <br> fees and expenses)<br>| 0.16%<sup>2</sup> <br>| 5.19%<sup>2</sup> <br>|
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; <sup>1</sup> As a percentage of Variable Account value.<br> <sup>2</sup> As a percentage of underlying mutual fund assets. Minimum and maximum expenses <br> include the maximum Low Cost Fund Platform Fee (see *Low Cost Fund Platform Fee* in <br> the statutory prospectus). | &nbsp;&nbsp; <sup>1</sup> As a percentage of Variable Account value.<br> <sup>2</sup> As a percentage of underlying mutual fund assets. Minimum and maximum expenses <br> include the maximum Low Cost Fund Platform Fee (see *Low Cost Fund Platform Fee* in <br> the statutory prospectus). | &nbsp;&nbsp; <sup>1</sup> As a percentage of Variable Account value.<br> <sup>2</sup> As a percentage of underlying mutual fund assets. Minimum and maximum expenses <br> include the maximum Low Cost Fund Platform Fee (see *Low Cost Fund Platform Fee* in <br> the statutory prospectus). |
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; Because each contract is customizable, the options elected affect how much each <br> Contract Owner will pay. To help you understand the cost of owning the contract, the <br> following table shows the lowest and highest cost a Contract Owner could pay each year, <br> based on current charges.  | &nbsp;&nbsp; Because each contract is customizable, the options elected affect how much each <br> Contract Owner will pay. To help you understand the cost of owning the contract, the <br> following table shows the lowest and highest cost a Contract Owner could pay each year, <br> based on current charges.  | &nbsp;&nbsp; Because each contract is customizable, the options elected affect how much each <br> Contract Owner will pay. To help you understand the cost of owning the contract, the <br> following table shows the lowest and highest cost a Contract Owner could pay each year, <br> based on current charges.  |
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; **Lowest Annual Cost Estimate:**<br> **$351.92**<br>| &nbsp;&nbsp; **Highest Annual Cost Estimate:**<br> **$4,282.92** | &nbsp;&nbsp; **Highest Annual Cost Estimate:**<br> **$4,282.92** |
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp;&nbsp; Assumes: <br> ● Investment of $100,000 <br> ● 5% annual appreciation<br> ● Least expensive underlying mutual fund fees <br> and expenses <br> ● No additional purchase payments, transfers or <br> withdrawals<br> ● No investment advisory fees<br>| &nbsp;&nbsp;&nbsp; Assumes: <br> ● Investment of $100,000 <br> ● 5% annual appreciation <br> ● Most expensive underlying mutual <br> fund fees and expenses <br> ● No additional purchase payments, <br> transfers or withdrawals<br> ● No investment advisory fees | &nbsp;&nbsp;&nbsp; Assumes: <br> ● Investment of $100,000 <br> ● 5% annual appreciation <br> ● Most expensive underlying mutual <br> fund fees and expenses <br> ● No additional purchase payments, <br> transfers or withdrawals<br> ● No investment advisory fees |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **RISKS** | **RISKS** |
| Risk of Loss | &nbsp;&nbsp; Contract Owners of variable annuities can lose money by investing in the contract, <br> including loss of principal (see *Principal Risks* in the statutory prospectus). <br>|
| Not a Short-Term <br> Investment<br>| &nbsp;&nbsp; The contract is not a short-term investment and is not appropriate for an investor who <br> needs ready access to cash. We have designed the contract to offer features, pricing, and <br> investment options that encourage long-term ownership (see *Principal Risks* in the <br> statutory prospectus). <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> The benefits of tax deferral also means that the contract is more beneficial to investors <br> with a long time horizon (see *Principal Risks* in the statutory prospectus). <br>|
| Risks Associated with <br> Investment Options<br>| &nbsp;&nbsp;&nbsp; ● Investment in this contract is subject to the risk of poor investment performance of the <br> Investment Options chosen by the Contract Owner.<br> ● Each Investment Option has its own unique risks.<br> ● Review the prospectuses and disclosures for the Investment Options before making an <br> investment decision. <br> See *Principal Risks* in the statutory prospectus*.*<br>|

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| | |
|:---|:---|
| **RISKS** | **RISKS** |
| Insurance Company Risks | &nbsp;&nbsp; Investment in the contract is subject to the risks associated with Nationwide, including that <br> any obligations, guarantees, or benefits are subject to Our claims-paying ability. More <br> information about Us is available by contacting Us at the address and/or toll-free phone <br> number indicated in *Contacting Us* (see *Principal Risks* in the statutory prospectus). <br>|
| **RESTRICTIONS** | **RESTRICTIONS** |
| Investments | &nbsp;&nbsp;&nbsp; ● We reserve the right to add, remove, and substitute Investment Portfolios available <br> under the Contract (see *The Investment Portfolios* in the statutory prospectus).<br> ● Certain Investment Portfolios have early cut-off times (see *Appendix: More Information* <br> *About the Investment Portfolios*).<br> ● Transfers between Investment Portfolios are subject to policies designed to deter short-<br> term and excessively frequent transfers. Nationwide may restrict the form in which <br> transfer requests will be accepted (see *Excessive Trading Limits* in the statutory <br> prospectus).<br>|
| **TAXES** | **TAXES** |
| Tax Implications | &nbsp;&nbsp;&nbsp; ● Consult with a tax professional to determine the tax implications of an investment in and <br> payments received under this Contract.<br> ● If the Contract is purchased through a tax-qualified plan or IRA, there is no additional tax <br> deferral.<br> ● Earnings in the Contract are taxed at ordinary income tax rates at the time of <br> withdrawals and there may be a tax penalty if withdrawals are taken before the Owner <br> reaches age 59½. <br> See *Taxes* in the statutory prospectus*.*<br>|
| **CONFLICTS OF INTEREST** | **CONFLICTS OF INTEREST** |
| Investment Professional <br> Compensation<br>| &nbsp;&nbsp; Some financial professionals receive compensation for selling the contract. Compensation <br> can take the form of either investment advisory fees paid pursuant to an investment <br> advisory agreement. Alternately, compensation can take the form of commission indirect <br> compensation from revenue that We earn and may share with the financial professional's <br> firm. This conflict of interest may influence a financial professional, as these financial <br> professionals may have a financial incentive to offer or recommend this contract over <br> another investment (see *The Monument Advisor® NY Variable Annuity Contract* in the <br> statutory prospectus).<br>|
| Exchanges | &nbsp;&nbsp; Some financial professionals may have a financial incentive to offer an investor a new <br> contract in place of the one he/she already owns. An investor should only exchange his/her <br> contract if he/she determines, after comparing the features, fees, and risks of both <br> contracts, that it is preferable for him/her to purchase the new contract, rather than to <br> continue to own the existing one (see *The Monument Advisor® NY Variable Annuity* <br> *Contract* in the statutory prospectus).<br>|

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**Overview of the Contract**

**Purpose of the Contract**

The Contract is intended to be a long-term investment vehicle to assist investors in saving for and living in retirement. We have designed the contract to offer features, pricing, and Investment Options that encourage long-term ownership. The Contract can help supplement retirement income through the annuitization feature, which provides a stream of periodic income payments. During the years leading up to those income payments, you manage your assets in the Contract according your specific goals and risk preferences by directing the allocation and reallocation among a variety of Investment Options. Contract growth is tax-deferred, meaning that gains in the contract are not taxable until withdrawn from the Contract. Finally, in the event that you die before beginning income payments, the Contract offers a death benefit.

Before purchasing the Contract you should consult with a financial professional to determine whether this contract is appropriate for you, taking into consideration your particular needs, including investment objectives, risk tolerance, investment time horizon, marital status, tax situation, and other personal characteristics. Generally speaking, this Contract is intended to provide benefits to a single individual and his/her beneficiaries. The Contract is not intended to be used by institutional investors, or in connection with other Nationwide contracts that have the same Annuitant and/or Owner. It is not intended to be sold to a terminally ill Contract Owner.

If the Owner elects to pay the investment advisory fees from the Contract Value, this may reduce the death benefit and other benefits under the contract, may be subject to federal and state income taxes, and may be subject to a 10% federal tax penalty (see *Expenses, Advisor Fee Withdrawals,* and *Taxes* in the statutory prospectus).

**Phases of the Contract**

The contract exists in two separate phases: the Accumulation Period (savings) and the Annuity Period (income). During the Accumulation Period, the Contract offers a variety of Investment Options to which the Owner can allocate and reallocate his/her Contract Value. The Investment Options available under the Contract consist of Sub-accounts that invest in underlying mutual funds, which offer a variable rate of return. **Additional information about the underlying mutual funds is available in *Appendix: More Information About the Investment Portfolios*.**

During the Annuity Period, We make periodic income payments to you. Prior to the Annuity Date, you elect the duration of the Annuity Payments – either for a fixed period of time or for the duration of the Annuitant's (and possibly the joint Annuitant's) life. Annuity Payments will be fixed, meaning that the amount of each Annuity Payment will be the same. After the Annuity Date, the only value associated with the Contract is the stream of Annuity Payments; unless otherwise specified in the Annuity Option, you cannot withdraw value from the Contract over and above the Annuity Payments. Additionally, after the Annuity Date, there is no death benefit, which means that upon your death, all Annuity Payments stop and the Contract terminates, unless the particular Annuity Option provides otherwise.

**Contract Features**

**Investment Options.** Owners can allocate Contract Value to Sub-accounts that invest in underlying mutual funds. Owners can reallocate those assets at their discretion, subject to certain restrictions.

**Deposits to the Contract.** Owners can apply additional Purchase Payments to the Contract until the Annuity Date, subject to certain restrictions.

**Withdrawals from the Contract.** Owners can withdraw some or all of their Contract Value at any time prior to the Annuity Date, subject to certain restrictions. During the Annuity Period, withdrawals other than Annuity Payments are not permitted.

**Death Benefit.** During the Accumulation Period, the Contract contains a standard death benefit (return of Contract Value) at no additional charge.

**Annuity Payments.** On the Annuity Date, We will make Annuity Payments based on the Annuity Option chosen.

**Tax Deferral.** Generally, Owners will not be taxed on any earnings on the assets in the Contract until such earnings are distributed from the Contract. How each contract's distributions are taxed depends on the type of contract issued. Note that if this Contract is issued in connection with a plan that qualifies for special income tax treatment under the Code, the Contract does not provide additional tax deferral benefits (see *Taxes* in the statutory prospectus).

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**Cancellation of the Contract.** Under state insurance laws, Owners have the right, during a limited period of time, to examine their Contract and decide if they want to keep it or cancel it (see *Free Look* and *Contacting Us* in the statutory prospectus).

**Contract Owner Services.** The Contract offers several services at no additional charge to assist Owners in managing their Contract, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rebalancing Program

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Dollar Cost Averaging Program

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic Withdrawal Program

**Benefits Under the Contract**

The following tables summarize information about the benefits under the Contract. The Standard Benefits table indicates the benefits that are available under the Contract and for which there is no additional charge.

**Standard Benefits Table** 

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| | | | |
|:---|:---|:---|:---|
| **Name of Benefit** | **Purpose** | **Maximum** <br> **Fee**<br>| **Brief Description of Restrictions/Limitations** |
| Standard Death Benefit <br> (see *Death Benefit* in <br> the statutory <br> prospectus)<br>| Death benefit upon <br> death of Owner prior to <br> Annuity Period<br>| None |  |
| Rebalancing Program <br> (see *Rebalancing* <br> *Program* in the statutory <br> prospectus)<br>| Automatic reallocation <br> of assets on a <br> predetermined <br> percentage basis<br>| None |  |
| Dollar Cost Averaging <br> Program (see *Dollar* <br> *Cost Averaging* <br> *Program* in the statutory <br> prospectus)<br>| Long-term transfer <br> program involving <br> automatic transfer of <br> assets<br>| None |  |
| Systematic Withdrawal <br> Program (see <br> *Systematic Withdrawal* <br> *Program* in the statutory <br> prospectus)<br>| Automatic withdrawals <br> of Contract Value on a <br> periodic basis<br>| None |  |

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**Buying the Contract**

**Purchase Payments**

A Purchase Payment is the money you give Us to buy the Contract. You can make Purchase Payments at any time before the Annuity Date. The minimum initial Purchase Payment We will accept is $15,000. We reserve the right to issue a Contract for less than $15,000 with Our approval, subject to the terms and conditions we may require. The maximum We accept is $10,000,000 without Our prior approval and will be subject to such terms and conditions as We may require.

Nationwide reserves the right to refuse any Purchase Payment. Nationwide does not accept Purchase Payments in the form of cash, cash equivalents or checks payable in foreign currency or issued by non-U.S. financial institutions. Purchase Payments made in the form of check, wire or EFT must be drawn upon the account of a U.S. financial institution.

Subject to the maximum described above, you can make additional Purchase Payments of any amount. However, we reserve the right to impose minimums on future Purchase Payments.

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If mandated under applicable law, the Company may be required to reject a Purchase Payment. The Company also may be required to provide additional information about an Owner's account to government regulators. In addition, the Company may be required to block an Owner's account and thereby refuse to pay any request for transfers, full or partial withdrawals (including systematic withdrawals and withdrawals made to pay Advisor Fees), or death benefits until instructions are received from the appropriate regulator.

**Allocation of Purchase Payments**

You control where your Purchase Payments are invested. On the application for a Contract, you may choose to have 100% of your initial Purchase Payment invested in the money market Sub-Accounts. Alternatively, you may use a separate administrative form to select the Sub-Accounts in which to invest your initial Purchase Payment. Any subsequent or additional Purchase Payments will be allocated based on your Investment Allocation of Record. Please make sure your Investment Allocation of Record is kept current. The Company imposes a Low Cost Fund Platform Fee on Contract Value invested in certain Sub-accounts that invest in low cost Investment Portfolios. See *Low Cost Fund Platform Fee* in the statutory prospectus for further details.

Once We receive your Purchase Payment and the necessary information, We will issue your Contract and allocate your first Purchase Payment within 2 Business Days. If you do not provide Us all of the information needed, We will contact you. If for some reason We are unable to complete this process within 5 Business Days, We will either send back your money or get your permission to keep it until We get all of the necessary information. The method of payment (*e.g.*, check, wire transfer, electronic funds transfer) may affect when your Purchase Payment is received by Us. If you add more money to your Contract by making additional Purchase Payments, We will credit these amounts to your Contract as of the Business Day We receive your Purchase Payment. Our Business Day closes at the close of regular trading on the New York Stock Exchange.

**Making Withdrawals: Accessing the Money in Your Contract**

**Access To Your Money**

You can have access to the money in your Contract:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) by making a withdrawal (either a partial or a complete withdrawal);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) by electing to receive Annuity Payments; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) when a death benefit is paid to your Beneficiary.

Withdrawals can only be made during the Accumulation Period.

When you make a complete withdrawal, you will receive the Contract Value on the Business Day We receive the withdrawal request, less any pro rata Subscription Fees.

All partial withdrawals will be withdrawn from the Investment Portfolios on a pro-rata basis unless you instruct Us otherwise.

Nationwide will pay the amount of any withdrawal from the Investment Portfolios within 7 days of your request in good order unless the *Suspension of Payments or Transfers* provision described in in the statutory prospectus is in effect.

A withdrawal may result in tax consequences (including an additional 10% tax penalty under certain circumstances).

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**Additional Information About Fees**

The following tables describe the fees and expenses that an Owner will pay when buying, owning, and surrendering or making withdrawals from the Contract. Please refer to the contract specifications page for information about the specific fees the Owner will pay each year based on the options elected. The fees and expenses do not reflect any investment advisory fees paid to financial professionals from Contract Value or other assets owned by the Owner; of those charges were reflected, the fees and expenses would be higher.

The first table describes the fees and expenses an Owner will pay at the time the Owner buys the Contract, surrenders or makes withdrawals from the Contract, or transfers Contract Value between Investment Portfolios. State premium taxes may also be deducted.

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|:---|
| **Transaction Expenses** |
| **Maximum Transfer Fee**<sup>1</sup><br>$25<sup>2</sup> <br>|

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The next table describes the fees and expenses that an Owner will pay each year during the time that the Owner owns the Contract (not including underlying mutual fund fees and expenses).

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|:---|
| **Annual Contract Expenses** |
| **Subscription Fee** (assessed via monthly deductions)<br>$240<sup>3</sup> <br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup>

All transfers made on the same day involving the same Sub-account count as one transfer. Certain restrictions apply (see *Excessive Trading Limits*).

<sup>2</sup>

Currently, We do not assess a Transfer Fee.

<sup>3</sup>

The annual Subscription Fee is assessed via a monthly deduction of $20 per month.

The next item shows the minimum and maximum total operating expenses charged by the underlying mutual funds that the Owner may pay periodically during the life of the Contract. These amounts also include the maximum applicable Low Cost Fund Platform Fees if you choose to invest in certain Investment Portfolios (see *Low Cost Fund Platform Fee*). A complete list of the underlying mutual funds available under the Contract, including their annual expenses, may be found in *Appendix A: More Information About the Investment Portfolios*.

---

| | | |
|:---|:---|:---|
| **Annual Underlying Mutual Fund Expenses** | **Annual Underlying Mutual Fund Expenses** | **Annual Underlying Mutual Fund Expenses** |
|  | **Minimum** | **Maximum** |
| (Expenses that are deducted from underlying mutual fund assets, including Low Cost <br> Fund Platform Fees and management fees, distribution and/or service (12b-1) fees, and <br> other expenses, as a percentage of average underlying mutual fund net assets.)<br>| 0.16% | 5.19% |

---

**Example**

The fees and expenses do not reflect any investment advisory fees paid to financial professionals from Contract Value or other assets owned by the Owner; if those charges were reflected, the fees and expenses would be higher.

The Example assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a $100,000 investment in the contract for the time periods indicated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a 5% return each year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the maximum and the minimum annual underlying mutual fund expenses.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **If the Contract is surrendered**<br> **at the end of the applicable**<br> **time period** | **If the Contract is surrendered**<br> **at the end of the applicable**<br> **time period** | **If the Contract is surrendered**<br> **at the end of the applicable**<br> **time period** | **If the Contract is surrendered**<br> **at the end of the applicable**<br> **time period** | **If the Contract is annuitized**<br> **at the end of the applicable**<br> **time period** | **If the Contract is annuitized**<br> **at the end of the applicable**<br> **time period** | **If the Contract is annuitized**<br> **at the end of the applicable**<br> **time period** | **If the Contract is not**<br> **surrendered** | **If the Contract is not**<br> **surrendered** | **If the Contract is not**<br> **surrendered** | **If the Contract is not**<br> **surrendered** |
|  | **1 Yr.** | **3 Yrs.** | **5 Yrs.** | **10 Yrs.** | **3 Yrs.** | **5 Yrs.** | **10 Yrs.** | **1 Yr.** | **3 Yrs.** | **5 Yrs.** | **10 Yrs.** |
| &nbsp;&nbsp;&nbsp; Maximum <br> Annual<br> Underlying <br> Mutual Fund<br> Expenses<br> (5.19%)<br>| &nbsp;&nbsp; $5702<br>| &nbsp;&nbsp; $16985<br>| &nbsp;&nbsp; $28110<br>| &nbsp;&nbsp; $55248<br>&nbsp;&nbsp; \*<br>| &nbsp;&nbsp; $16985<br>| &nbsp;&nbsp; $28110<br>| &nbsp;&nbsp; $55248<br>| &nbsp;&nbsp; $5702<br>| &nbsp;&nbsp; $16985<br>| &nbsp;&nbsp; $28110<br>| &nbsp;&nbsp; $55248<br>|
| &nbsp;&nbsp;&nbsp; Minimum Annual<br> Underlying <br> Mutual Fund<br> Expenses <br> (0.16%)<br>| &nbsp;&nbsp; $420<br>| &nbsp;&nbsp; $1319<br>| &nbsp;&nbsp; $2301<br>| &nbsp;&nbsp; $5180<br>&nbsp;&nbsp; \*<br>| &nbsp;&nbsp; $1319<br>| &nbsp;&nbsp; $2301<br>| &nbsp;&nbsp; $5180<br>| &nbsp;&nbsp; $420<br>| &nbsp;&nbsp; $1319<br>| &nbsp;&nbsp; $2301<br>| &nbsp;&nbsp; $5180 |

---

------

**Appendix: More Information About the Investment Portfolios**

The following is a list of the Investment Portfolios that are available under the Contract. More information about the Investment Portfolios is available in the prospectuses for the Investment Portfolios, which may be amended from time to time and can be found online at https://nationwide.onlineprospectus.net/NW/C000148690NW/index.php. This information can also be obtained at no cost by calling 1-866-667-0561 or by sending an email request to NAS_Service@nationwide.com.

The current expenses and performance information below reflects fees and expenses of the Investment Portfolios, but do not reflect the other fees and expenses that the Contract may charge, such as any Low Cost Fund Platform Fee. Expenses would be higher and performance would be lower if these other charges were included. Each Investment Portfolio's past performance is not necessarily an indication of future performance.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Commodities | **Advisors Preferred Trust - Gold Bullion** <br> **Strategy Portfolio**<br> Investment Advisor: Advisors Preferred, <br> LLC<br> Sub-Advisor: Flexible Plan Investments, <br> Ltd.<br>| 1.64% | 0.00% | **1.64%** | 24.34% | 8.00% | 5.62% |
| Equity | **Alger Capital Appreciation Portfolio:** <br> **Class I-2 Shares**<br> Investment Advisor: Fred Alger <br> Management, LLC<br>| 0.93% | 0.00% | **0.93%** | 48.13% | 17.84% | 15.55% |
| Equity | **Alger Large Cap Growth Portfolio:** <br> **Class I-2 Shares**<br> Investment Advisor: Fred Alger <br> Management, LLC<br>| 0.84%\* | 0.00% | **0.84%** | 42.89% | 16.79% | 13.87% |
| Equity | **Alger Mid Cap Growth Portfolio: Class** <br> **I-2 Shares**<br> Investment Advisor: Fred Alger <br> Management, LLC<br>| 0.94%\* | 0.00% | **0.94%** | 21.07% | 10.34% | 9.78% |
| Equity | **AllianceBernstein Variable Products** <br> **Series Fund, Inc. - AB VPS Discovery** <br> **Value Portfolio: Class B**<br> Investment Advisor: AllianceBernstein L.P.<br>| 1.06% | 0.00% | **1.06%** | 9.72% | 8.57% | 7.36% |
| Equity | **AllianceBernstein Variable Products** <br> **Series Fund, Inc. - AB VPS Relative** <br> **Value Portfolio: Class A**<br> Investment Advisor: AllianceBernstein L.P.<br>| 0.61% | 0.00% | **0.61%** | 13.02% | 9.81% | 9.66% |
| Equity | **AllianceBernstein Variable Products** <br> **Series Fund, Inc. - AB VPS Sustainable** <br> **Global Thematic Portfolio: Class B**<br> Investment Advisor: AllianceBernstein L.P.<br>| 1.16%\* | 0.00% | **1.16%** | 5.96% | 8.77% | 9.45% |
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Aggressive Growth ETF** <br> **Asset Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.89% | 0.00% | **0.89%** | 14.58% | 8.63% | 8.05% |
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Balanced ETF Asset** <br> **Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.86% | 0.00% | **0.86%** | 10.17% | 5.53% | 5.54% |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Conservative ETF Asset** <br> **Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.84%\* | 0.00% | **0.84%** | 5.29% | 1.75% | 2.50% |
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Growth ETF Asset** <br> **Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.87% | 0.00% | **0.87%** | 12.67% | 7.32% | 7.00% |
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Income & Growth ETF** <br> **Asset Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.85%\* | 0.00% | **0.85%** | 7.97% | 3.81% | 4.13% |
| Fixed Income | **American Funds Insurance Series® -** <br> **American Funds Mortgage Fund: Class** <br> **4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.82%\* | 0.00% | **0.82%** | 0.35% | -0.30% | 0.78% |
| Fixed Income | **American Funds Insurance Series® -** <br> **American High-Income Trust: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.82%\* | 0.00% | **0.82%** | 9.39% | 5.29% | 5.06% |
| Allocation | **American Funds Insurance Series® -** <br> **Asset Allocation Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.80% | 0.00% | **0.80%** | 16.11% | 8.04% | 8.05% |
| Allocation | **American Funds Insurance Series® -** <br> **Capital Income Builder®: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.78%\* | 0.00% | **0.78%** | 9.93% | 5.75% | 5.17% |
| Fixed Income | **American Funds Insurance Series® -** <br> **Capital World Bond Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.98% | 0.00% | **0.98%** | -3.32% | -2.65% | -0.33% |
| Equity | **American Funds Insurance Series® -** <br> **Capital World Growth & Income Fund:** <br> **Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.91%\* | 0.00% | **0.91%** | 13.70% | 7.04% | 8.17% |
| Equity | **American Funds Insurance Series® -** <br> **Global Growth Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.91%\* | 0.00% | **0.91%** | 13.39% | 9.49% | 10.46% |
| Equity | **American Funds Insurance Series® -** <br> **Global Small Capitalization Fund: Class** <br> **4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 1.16%\* | 0.00% | **1.16%** | 2.12% | 2.74% | 5.54% |
| Equity | **American Funds Insurance Series® -** <br> **Growth Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.84% | 0.00% | **0.84%** | 31.30% | 18.53% | 16.29% |

---

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **American Funds Insurance Series® -** <br> **Growth-Income Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.78% | 0.00% | **0.78%** | 23.92% | 12.73% | 11.93% |
| Equity | **American Funds Insurance Series® -** <br> **International Growth & Income Fund:** <br> **Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 1.06% | 0.00% | **1.06%** | 3.11% | 2.28% | 3.73% |
| Allocation | **American Funds Insurance Series® -** <br> **Managed Risk Asset Allocation Fund:** <br> **Class P2**<br> Investment Advisor: Capital Research and <br> Management Company<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.90%\* | 0.00% | **0.90%** | 14.63% | 5.30% | 5.88% |
| Allocation | **American Funds Insurance Series® -** <br> **Managed Risk Washington Mutual** <br> **Investors Fund: Class P2**<br> Investment Advisor: Capital Research and <br> Management Company<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.89%\* | 0.00% | **0.89%** | 13.99% | 5.61% | 5.28% |
| Equity | **American Funds Insurance Series® -** <br> **New World Fund®: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 1.07%\* | 0.00% | **1.07%** | 6.33% | 4.29% | 5.96% |
| Fixed Income | **American Funds Insurance Series® -** <br> **The Bond Fund of America: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.73%\* | 0.00% | **0.73%** | 0.98% | 0.07% | 1.42% |
| Fixed Income | **American Funds Insurance Series® -** <br> **U.S. Government Securities Fund:** <br> **Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.76%\* | 0.00% | **0.76%** | 0.44% | -0.13% | 0.84% |
| Equity | **American Funds Insurance Series® -** <br> **Washington Mutual Investors Fund:** <br> **Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.77%\* | 0.00% | **0.77%** | 18.85% | 11.92% | 9.99% |
| Fixed Income | **BlackRock Variable Series Funds II,** <br> **Inc. - BlackRock High Yield V.I. Fund:** <br> **Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br> Sub-Advisor: BlackRock International <br> Limited<br>| 0.78%\* | 0.00% | **0.78%** | 7.85% | 4.18% | 4.75% |
| Fixed Income | **BlackRock Variable Series Funds II,** <br> **Inc. - BlackRock Total Return V.I. Fund:** <br> **Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br> Sub-Advisor: BlackRock International <br> Limited and BlackRock (Singapore) <br> Limited<br>| 0.77%\* | 0.00% | **0.77%** | 1.14% | -0.50% | 1.11% |

---

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Advantage Large Cap Core** <br> **V.I. Fund: Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br>| 0.94%\* | 0.00% | **0.94%** | 25.11% | 13.81% | 12.07% |
| Equity | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Advantage Large Cap Value** <br> **V.I. Fund: Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br>| 0.85%\* | 0.00% | **0.85%** | 16.13% | 9.50% | 8.80% |
| Equity | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Equity Dividend V.I. Fund:** <br> **Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br>| 0.92%\* | 0.00% | **0.92%** | 9.71% | 7.98% | 8.79% |
| Allocation | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Global Allocation V.I. Fund:** <br> **Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br> Sub-Advisor: BlackRock International <br> Limited and BlackRock (Singapore) <br> Limited<br>| 1.02%\* | 0.00% | **1.02%** | 8.93% | 5.72% | 5.32% |
| Equity | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Large Cap Focus Growth** <br> **V.I. Fund: Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br>| 1.04%\* | 0.00% | **1.04%** | 31.39% | 15.88% | 15.01% |
| Equity | **BNY Mellon Investment Portfolios -** <br> **Small Cap Stock Index Portfolio:** <br> **Service Shares**<br> Investment Advisor: BNY Mellon <br> Investment Adviser, Inc.<br>| 0.60%\* | 0.00% | **0.60%** | 7.96% | 7.70% | 8.33% |
| Equity | **BNY Mellon Stock Index Fund, Inc.:** <br> **Initial Shares**<br> Investment Advisor: BNY Mellon <br> Investment Adviser, Inc.<br> Sub-Advisor: Mellon Investments <br> Corporation<br>| 0.27% | 0.25% | **0.52%** | 24.66% | 14.21% | 12.81% |
| Equity | **BNY Mellon Sustainable U.S. Equity** <br> **Portfolio, Inc.: Initial Shares**<br> Investment Advisor: BNY Mellon <br> Investment Adviser, Inc.<br> Sub-Advisor: Newton Investment <br> Management Limited<br>| 0.67% | 0.00% | **0.67%** | 24.89% | 13.46% | 11.52% |
| Allocation | **Calvert Variable Series, Inc. - Calvert** <br> **VP SRI Balanced Portfolio: Class F**<br> Investment Advisor: Calvert Research and <br> Management<br>| 0.89% | 0.00% | **0.89%** | 18.91% | 9.03% | 8.06% |
| Equity | **Calvert Variable Trust, Inc. - CVT** <br> **Nasdaq 100 Index Portfolio: Class F**<br> Investment Advisor: Calvert Research and <br> Management<br> Sub-Advisor: Ameritas Investment <br> Partners, Inc.<br>| 0.73%\* | 0.00% | **0.73%** | 24.89% | 19.32% | 17.64% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Columbia Funds Variable Insurance** <br> **Trust - Columbia Variable Portfolio -** <br> **Strategic Income Fund: Class 2**<br> Investment Advisor: Columbia <br> Management Investment Advisors, LLC<br>| 0.94%\* | 0.00% | **0.94%** | 4.51% | 1.82% | 3.10% |
| Equity | **Columbia Funds Variable Insurance** <br> **Trust II - Columbia Variable Portfolio -** <br> **Seligman Global Technology: Class 2**<br> Investment Advisor: Columbia <br> Management Investment Advisors, LLC<br>| 1.20%\* | 0.00% | **1.20%** | 26.58% | 20.37% | 20.25% |
| Equity | **Columbia Funds Variable Series Trust II** <br> **- Columbia Variable Portfolio - Select** <br> **Large Cap Value Fund: Class 1**<br> Investment Advisor: Columbia <br> Management Investment Advisors, LLC<br>| 0.70% | 0.00% | **0.70%** | 12.86% | 9.57% | 9.26% |
| Equity | **Columbia Funds Variable Series Trust II** <br> **- Columbia Variable Portfolio - Select** <br> **Small Cap Value Fund: Class 1**<br> Investment Advisor: Columbia <br> Management Investment Advisors, LLC<br>| 0.85%\* | 0.00% | **0.85%** | 13.97% | 9.47% | 7.21% |
| Commodities | **Credit Suisse Trust - Commodity** <br> **Return Strategy Portfolio: Class 1**<br> Investment Advisor: UBS Asset <br> Management (Americas) LLC<br>| 1.05%\* | 0.00% | **1.05%** | 4.83% | 6.85% | 1.12% |
| Equity | **Delaware VIP Trust - Macquarie VIP** <br> **Small Cap Value Series: Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust (a Delaware statutory trust)<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.04% | 0.00% | **1.04%** | 11.02% | 6.83% | 7.30% |
| Equity | **DFA Investment Dimensions Group Inc.** <br> **- Dimensional VA Equity Allocation** <br> **Portfolio: Institutional Class (formerly,** <br> **DFA Investment Dimensions Group Inc.** <br> **- VA Equity Allocation Portfolio:** <br> **Institutional Class)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.31%\* | 0.25% | **0.56%** | 15.10% | 10.74% |  |
| Fixed Income | **DFA Investment Dimensions Group Inc.** <br> **- Dimensional VA Global Bond Portfolio** <br> **(formerly, DFA Investment Dimensions** <br> **Group Inc. - VA Global Bond Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.21% | 0.25% | **0.46%** | 5.38% | 0.81% | 1.53% |
| Allocation | **DFA Investment Dimensions Group Inc.** <br> **- Dimensional VA Global Moderate** <br> **Allocation Portfolio: Institutional Class** <br> **(formerly, DFA Investment Dimensions** <br> **Group Inc. - VA Global Moderate** <br> **Allocation Portfolio: Institutional Class)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br>| 0.28%\* | 0.25% | **0.53%** | 11.99% | 7.77% | 6.95% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **DFA Investment Dimensions Group Inc.** <br> **- Dimensional VA International Small** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA** <br> **International Small Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.39% | 0.25% | **0.64%** | 3.82% | 4.11% | 5.91% |
| Equity | **DFA Investment Dimensions Group Inc.** <br> **- Dimensional VA International Value** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA** <br> **International Value Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.28% | 0.25% | **0.53%** | 6.62% | 7.08% | 5.62% |
| Fixed Income | **DFA Investment Dimensions Group Inc.** <br> **- Dimensional VA Short-Term Fixed** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA Short-Term** <br> **Fixed Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.12% | 0.25% | **0.37%** | 5.48% | 1.91% | 1.57% |
| Equity | **DFA Investment Dimensions Group Inc.** <br> **- Dimensional VA U.S. Large Value** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA U.S. Large** <br> **Value Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br>| 0.21% | 0.25% | **0.46%** | 13.38% | 8.43% | 8.52% |
| Equity | **DFA Investment Dimensions Group Inc.** <br> **- Dimensional VA U.S. Targeted Value** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA U.S.** <br> **Targeted Value Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br>| 0.28% | 0.25% | **0.53%** | 8.14% | 12.55% | 9.46% |
| Fixed Income | **Federated Hermes Insurance Series -** <br> **Federated Hermes High Income Bond** <br> **Fund II: Primary Shares**<br> Investment Advisor: Federated Investment <br> Management Company<br>| 0.83%\* | 0.00% | **0.83%** | 6.27% | 3.19% | 4.48% |
| Allocation | **Federated Hermes Insurance Series -** <br> **Federated Hermes Managed Volatility** <br> **Fund II: Primary Shares**<br> Investment Advisor: Federated Equity <br> Management Company of Pennsylvania<br> Sub-Advisor: Federated Investment <br> Management Company, Federated <br> Advisory Services Company, Fed Global<br>| 1.00%\* | 0.00% | **1.00%** | 15.56% | 5.32% | 5.30% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Fidelity Variable Insurance Products -** <br> **Emerging Markets Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR UK, FMR HK, FMR <br> Japan, FIA, and FIA(UK)<br>| 1.13% | 0.00% | **1.13%** | 9.71% | 4.09% | 5.78% |
| Allocation | **Fidelity Variable Insurance Products** <br> **Fund - VIP Balanced Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.67% | 0.00% | **0.67%** | 15.58% | 10.57% | 9.35% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Contrafund® Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.81% | 0.00% | **0.81%** | 33.45% | 16.74% | 13.33% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Disciplined Small Cap** <br> **Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br>| 0.57% | 0.00% | **0.57%** | 16.57% | 10.28% | 8.35% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Energy Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.85% | 0.00% | **0.85%** | 4.02% | 12.13% | 4.19% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Equity-Income Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.72% | 0.00% | **0.72%** | 15.06% | 9.80% | 8.94% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Fidelity Variable Insurance Products** <br> **Fund - VIP Floating Rate High Income** <br> **Portfolio: Initial Class**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.73% | 0.00% | **0.73%** | 8.39% | 5.55% | 4.88% |
| Allocation | **Fidelity Variable Insurance Products** <br> **Fund - VIP Freedom Income Fund** <br> **Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br>| 0.62% | 0.00% | **0.62%** | 4.20% | 2.26% | 3.19% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Growth & Income Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.74% | 0.00% | **0.74%** | 21.91% | 13.10% | 11.11% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Growth Opportunities** <br> **Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.82% | 0.00% | **0.82%** | 38.56% | 18.46% | 17.93% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Growth Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.81% | 0.00% | **0.81%** | 30.07% | 18.63% | 16.34% |
| Fixed Income | **Fidelity Variable Insurance Products** <br> **Fund - VIP High Income Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 1.06%\* | 0.00% | **1.06%** | 8.62% | 2.47% | 3.90% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP International Capital** <br> **Appreciation Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FIL Investment Advisors, FIL <br> Investment Advisors (UK) Limited, FMR <br> Investment Management (UK) Limited, <br> Fidelity Management & Research (Hong <br> Kong) Limited, Fidelity Management & <br> Research (Japan) Limited<br>| 1.03% | 0.00% | **1.03%** | 7.92% | 6.61% | 8.01% |
| Fixed Income | **Fidelity Variable Insurance Products** <br> **Fund - VIP Investment Grade Bond** <br> **Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.63% | 0.00% | **0.63%** | 1.50% | 0.20% | 1.68% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Mid Cap Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.82% | 0.00% | **0.82%** | 17.18% | 11.06% | 8.94% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Overseas Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FIL Investment Advisors, FIL <br> Investment Advisors (UK) Limited, FMR <br> Investment Management (UK) Limited, <br> Fidelity Management & Research (Hong <br> Kong) Limited, Fidelity Management & <br> Research (Japan) Limited<br>| 0.98% | 0.00% | **0.98%** | 4.81% | 5.50% | 6.06% |
| Fixed Income | **Fidelity Variable Insurance Products** <br> **Fund - VIP Strategic Income Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FIL Investment Advisors, FIL <br> Investment Advisors (UK) Limited, FMR <br> Investment Management (UK) Limited, <br> Fidelity Management & Research (Hong <br> Kong) Limited, Fidelity Management & <br> Research (Japan) Limited<br>| 0.89% | 0.00% | **0.89%** | 5.78% | 2.54% | 3.34% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Value Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.85% | 0.00% | **0.85%** | 11.08% | 11.80% | 9.71% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Value Strategies Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management <br> & Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment <br> Management (UK) Limited, Fidelity <br> Management & Research (Hong Kong) <br> Limited, Fidelity Management & Research <br> (Japan) Limited<br>| 0.84% | 0.00% | **0.84%** | 9.16% | 11.93% | 9.37% |
| Equity | **First Eagle Variable Funds - Overseas** <br> **Variable Fund**<br> Investment Advisor: First Eagle Investment <br> Management, LLC<br>| 1.21%\* | 0.00% | **1.21%** | 6.10% | 3.66% | 4.43% |
| Equity | **Franklin Templeton Variable Insurance** <br> **Products Trust - Franklin Global Real** <br> **Estate VIP Fund: Class 2**<br> Investment Advisor: Franklin Advisers, Inc.<br>| 1.25%\* | 0.00% | **1.25%** | -0.32% | -0.30% | 2.30% |
| Equity | **Franklin Templeton Variable Insurance** <br> **Products Trust - Franklin Rising** <br> **Dividends VIP Fund: Class 2**<br> Investment Advisor: Franklin Advisers, Inc.<br>| 0.88%\* | 0.00% | **0.88%** | 10.79% | 10.30% | 10.44% |
| Fixed Income | **Franklin Templeton Variable Insurance** <br> **Products Trust - Franklin U.S.** <br> **Government Securities VIP Fund: Class** <br> **2**<br> Investment Advisor: Franklin Advisers, Inc.<br>| 0.78% | 0.00% | **0.78%** | 1.37% | -0.52% | 0.53% |
| Fixed Income | **Guggenheim Variable Funds Trust -** <br> **Series E (Total Return Bond Series)**<br> Investment Advisor: Guggenheim <br> Investments<br>| 0.92%\* | 0.00% | **0.92%** | 3.09% | 1.01% | 2.51% |
| Fixed Income | **Guggenheim Variable Funds Trust -** <br> **Series F (Floating Rate Strategies** <br> **Series)**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.19%\* | 0.00% | **1.19%** | 6.83% | 3.83% | 3.84% |
| Allocation | **Invesco - Invesco V.I. Balanced-Risk** <br> **Allocation Fund: Series II Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 1.13%\* | 0.00% | **1.13%** | 3.56% | 2.51% | 3.57% |
| Equity | **Invesco - Invesco V.I. Comstock Fund:** <br> **Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.76% | 0.00% | **0.76%** | 15.18% | 11.59% | 9.49% |
| Fixed Income | **Invesco - Invesco V.I. Core Plus Bond** <br> **Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.62%\* | 0.00% | **0.62%** | 3.06% | 0.38% | 2.25% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Invesco - Invesco V.I. Diversified** <br> **Dividend Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.68% | 0.00% | **0.68%** | 13.22% | 7.64% | 7.83% |
| Allocation | **Invesco - Invesco V.I. Equity and** <br> **Income Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.57% | 0.00% | **0.57%** | 12.12% | 8.38% | 7.36% |
| Fixed Income | **Invesco - Invesco V.I. Global Strategic** <br> **Income Fund: Series II**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 1.18%\* | 0.00% | **1.18%** | 2.79% | -0.43% | 1.28% |
| Money Market | **Invesco - Invesco V.I. Government** <br> **Money Market Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.36% | 0.00% | **0.36%** | 4.98% | 2.30% | 1.56% |
| Fixed Income | **Invesco - Invesco V.I. Government** <br> **Securities Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.70% | 0.00% | **0.70%** | 1.72% | -0.17% | 0.91% |
| Equity | **Invesco - Invesco V.I. Growth and** <br> **Income Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.75% | 0.00% | **0.75%** | 16.00% | 10.07% | 8.80% |
| Equity | **Invesco - Invesco V.I. Health Care** <br> **Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.99% | 0.00% | **0.99%** | 4.17% | 3.64% | 5.40% |
| Fixed Income | **Invesco - Invesco V.I. High Yield Fund:** <br> **Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br> Sub-Advisor: Invesco Canada Ltd.<br>| 0.89% | 0.00% | **0.89%** | 7.73% | 2.97% | 3.81% |
| Equity | **Invesco - Invesco V.I. Technology** <br> **Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.97% | 0.00% | **0.97%** | 34.27% | 14.65% | 14.40% |
| Allocation | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Asset Strategy Series:** <br> **Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management <br> Europe Limited, Macquarie Investment <br> Management Global Limited<br>| 0.85%\* | 0.00% | **0.85%** | 12.44% | 6.56% | 5.27% |
| Allocation | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Balanced Series:** <br> **Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management <br> Europe Limited, Macquarie Investment <br> Management Global Limited<br>| 1.03%\* | 0.00% | **1.03%** | 15.60% | 8.30% | 7.14% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Corporate Bond Series:** <br> **Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management <br> Europe Limited, Macquarie Investment <br> Management Global Limited<br>| 0.78% | 0.00% | **0.78%** | 2.45% | 0.34% | 1.96% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Energy Series: Service** <br> **Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.11%\* | 0.00% | **1.11%** | -5.60% | 5.79% | -1.89% |
| Fixed Income | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP High Income Series:** <br> **Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management <br> Europe Limited, Macquarie Investment <br> Management Global Limited<br>| 0.97% | 0.00% | **0.97%** | 6.19% | 3.51% | 4.13% |
| Fixed Income | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Limited-Term Bond** <br> **Series: Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management <br> Europe Limited, Macquarie Investment <br> Management Global Limited<br>| 0.79%\* | 0.00% | **0.79%** | 4.33% | 1.64% | 1.74% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Mid Cap Growth Series:** <br> **Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.10%\* | 0.00% | **1.10%** | 2.20% | 7.96% | 9.88% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Natural Resources** <br> **Series: Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.25%\* | 0.00% | **1.25%** | -0.58% | 5.81% | 0.98% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Science and Technology** <br> **Series: Service Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.16% | 0.00% | **1.16%** | 30.59% | 14.05% | 13.54% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Value Series: Service** <br> **Class**<br> Investment Advisor: Delaware <br> Management Company, a series of <br> Macquarie Investment Management <br> Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 0.98%\* | 0.00% | **0.98%** | 6.47% | 7.96% | 7.52% |
| Allocation | **Janus Aspen Series - Janus Henderson** <br> **Balanced Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.62% | 0.00% | **0.62%** | 15.43% | 8.33% | 8.66% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Enterprise Portfolio: Institutional** <br> **Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.72% | 0.00% | **0.72%** | 15.61% | 9.88% | 12.40% |
| Fixed Income | **Janus Aspen Series - Janus Henderson** <br> **Flexible Bond Portfolio: Service Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.82%\* | 0.00% | **0.82%** | 1.63% | 0.09% | 1.35% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Forty Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.58% | 0.00% | **0.58%** | 28.47% | 15.40% | 15.65% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Global Research Portfolio: Institutional** <br> **Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.72% | 0.00% | **0.72%** | 23.58% | 12.35% | 10.55% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Global Sustainable Equity Portfolio:** <br> **Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.74%\* | 0.00% | **0.74%** | 11.06% |  |  |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Mid Cap Value Portfolio: Institutional** <br> **Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.93% | 0.00% | **0.93%** | 13.11% | 7.14% | 7.60% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Overseas Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.88% | 0.00% | **0.88%** | 5.84% | 7.21% | 5.55% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Research Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.67% | 0.00% | **0.67%** | 35.31% | 16.79% | 14.53% |
| Equity | **John Hancock Variable Insurance Trust** <br> **- Disciplined Value Emerging Markets** <br> **Equity Trust: Series NAV**<br> Investment Advisor: John Hancock <br> Variable Trust Advisers LLC<br> Sub-Advisor: Boston Partners Global <br> Investors, Inc.<br>| 0.96%\* | 0.00% | **0.96%** | -2.44% | 2.75% | 3.38% |
| Allocation | **Lazard Retirement Series, Inc. - Lazard** <br> **Retirement Global Dynamic Multi-Asset** <br> **Portfolio: Service Shares**<br> Investment Advisor: Lazard Asset <br> Management LLC<br>| 1.05%\* | 0.00% | **1.05%** | 8.60% | 2.33% | 4.35% |
| Equity | **Lazard Retirement Series, Inc. - Lazard** <br> **Retirement US Small Cap Equity Select** <br> **Portfolio: Service Shares**<br> Investment Advisor: Lazard Asset <br> Management LLC<br>| 1.12%\* | 0.00% | **1.12%** | 11.12% | 5.74% | 6.73% |
| Equity | **Legg Mason Partners Variable Equity** <br> **Trust - ClearBridge Variable Dividend** <br> **Strategy Portfolio: Class I**<br> Investment Advisor: Franklin Templeton <br> Fund Adviser, LLC<br> Sub-Advisor: ClearBridge Investments, <br> LLC<br>| 0.75% | 0.00% | **0.75%** | 16.85% | 10.85% | 10.64% |
| Equity | **Legg Mason Partners Variable Equity** <br> **Trust - ClearBridge Variable Large Cap** <br> **Growth Portfolio: Class I**<br> Investment Advisor: Franklin Templeton <br> Fund Adviser, LLC<br> Sub-Advisor: ClearBridge Investments, <br> LLC<br>| 0.74% | 0.00% | **0.74%** | 27.89% | 14.75% | 14.58% |
| Equity | **Legg Mason Partners Variable Equity** <br> **Trust - ClearBridge Variable Small Cap** <br> **Growth Portfolio: Class II**<br> Investment Advisor: Franklin Templeton <br> Fund Adviser, LLC<br> Sub-Advisor: ClearBridge Investments, <br> LLC<br>| 1.05% | 0.00% | **1.05%** | 4.23% | 5.13% | 7.66% |
| Fixed Income | **Lord Abbett Series Fund, Inc. - Bond** <br> **Debenture Portfolio: Class VC**<br> Investment Advisor: Lord, Abbett & Co. <br> LLC<br>| 0.99% | 0.00% | **0.99%** | 6.72% | 1.90% | 3.73% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Lord Abbett Series Fund, Inc. -** <br> **Dividend Growth Portfolio: Class VC**<br> Investment Advisor: Lord, Abbett & Co. <br> LLC<br>| 0.99% | 0.00% | **0.99%** | 22.14% | 12.23% | 11.16% |
| Equity | **Lord Abbett Series Fund, Inc. - Growth** <br> **and Income Portfolio: Class VC**<br> Investment Advisor: Lord, Abbett & Co. <br> LLC<br>| 0.93% | 0.00% | **0.93%** | 20.60% | 10.37% | 9.05% |
| Equity | **MFS® Variable Insurance Trust - MFS** <br> **Growth Series: Service Class**<br> Investment Advisor: Massachusetts <br> Financial Services Company<br>| 0.97%\* | 0.00% | **0.97%** | 31.15% | 14.46% | 14.82% |
| Equity | **MFS® Variable Insurance Trust - MFS** <br> **New Discovery Series: Service Class**<br> Investment Advisor: Massachusetts <br> Financial Services Company<br>| 1.12%\* | 0.00% | **1.12%** | 6.44% | 4.71% | 8.92% |
| Equity | **MFS® Variable Insurance Trust - MFS** <br> **Value Series: Service Class**<br> Investment Advisor: Massachusetts <br> Financial Services Company<br>| 0.94%\* | 0.00% | **0.94%** | 11.35% | 7.76% | 8.36% |
| Equity | **MFS® Variable Insurance Trust II - MFS** <br> **International Growth Portfolio: Service** <br> **Class**<br> Investment Advisor: Massachusetts <br> Financial Services Company<br>| 1.13%\* | 0.00% | **1.13%** | 8.76% | 5.84% | 7.56% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Allspring Discovery Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Allspring Global Investments, <br> LLC<br>| 1.08%\* | 0.00% | **1.08%** | 18.08% | 6.18% | 8.75% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Amundi Multi Sector Bond Fund:** <br> **Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Amundi Asset Management, <br> US<br>| 0.81% | 0.00% | **0.81%** | 10.34% | 5.12% | 4.38% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT AQR Large Cap Defensive Style** <br> **Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: AQR Capital Management, <br> LLC<br>| 0.78% | 0.00% | **0.78%** | 13.66% | 8.67% | 10.26% |
| Allocation | **Nationwide Variable Insurance Trust -** <br> **NVIT Blueprint® Managed Growth &** <br> **Income Fund: Class I (formerly,** <br> **Nationwide Variable Insurance Trust -** <br> **NVIT Blueprint(SM) Managed Growth &** <br> **Income Fund: Class I)**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Nationwide Asset <br> Management, LLC<br>| 0.80%\* | 0.00% | **0.80%** | 8.90% | 4.24% | 4.32% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT BNY Mellon Dynamic U.S. Core** <br> **Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Newton Investment <br> Management Limited<br>| 0.62%\* | 0.00% | **0.62%** | 22.80% | 12.91% | 13.21% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT BNY Mellon Dynamic U.S. Equity** <br> **Income: Class X**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Newton Investment <br> Management Limited<br>| 0.63%\* | 0.00% | **0.63%** | 15.49% | 11.25% | 9.40% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Bond Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.23% | 0.00% | **0.23%** | 1.14% | -0.54% | 1.13% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT DoubleLine Total Return Tactical** <br> **Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: DoubleLine Capital LP<br>| 0.60%\* | 0.00% | **0.60%** | 3.63% | -0.06% |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Fidelity Institutional AM®** <br> **Emerging Markets Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: FIAM LLC<br>| 1.18%\* | 0.00% | **1.18%** | 6.28% | -2.63% | 1.30% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Fidelity Institutional AM®** <br> **Worldwide Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: FIAM LLC<br>| 1.06% | 0.00% | **1.06%** |  |  |  |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Government Money Market Fund:** <br> **Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Federated Investment <br> Management Company<br>| 0.32% | 0.00% | **0.32%** | 5.04% | 2.30% | 1.53% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT GQG US Quality Equity Fund:** <br> **Class I (formerly, Nationwide Variable** <br> **Insurance Trust - NVIT Calvert Equity** <br> **Fund: Class I)**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: GQG Partners LLC<br>| 0.77%\* | 0.00% | **0.77%** | 8.63% | 7.74% | 8.42% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT International Equity Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Lazard Asset Management <br> LLC<br>| 0.98%\* | 0.00% | **0.98%** | 11.31% | 7.19% | 6.03% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT International Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.30% | 0.00% | **0.30%** | 3.25% | 4.51% | 5.12% |
| Allocation | **Nationwide Variable Insurance Trust -** <br> **NVIT Investor Destinations Capital** <br> **Appreciation Fund: Class P**<br> Investment Advisor: Nationwide Fund <br> Advisors<br>| 0.74% | 0.00% | **0.74%** | 10.67% | 5.98% | 6.40% |
| Allocation | **Nationwide Variable Insurance Trust -** <br> **NVIT Investor Destinations Moderate** <br> **Fund: Class P**<br> Investment Advisor: Nationwide Fund <br> Advisors<br>| 0.73% | 0.00% | **0.73%** | 9.18% | 5.06% | 5.62% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT iShares® Fixed Income ETF Fund:** <br> **Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.22%\* | 0.00% | **0.22%** | 1.36% | -0.30% |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT iShares® Global Equity ETF Fund:** <br> **Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.23%\* | 0.00% | **0.23%** | 16.19% | 10.97% |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT J.P. Morgan Digital Evolution** <br> **Strategy Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: J.P. Morgan Investment <br> Management Inc.<br>| 0.96%\* | 0.00% | **0.96%** | 36.93% |  |  |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT J.P. Morgan Inflation Managed** <br> **Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: J.P. Morgan Investment <br> Management Inc.<br>| 0.75% | 0.00% | **0.75%** |  |  |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Jacobs Levy Large Cap Growth** <br> **Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Jacobs Levy Equity <br> Management, Inc.<br>| 0.70%\* | 0.00% | **0.70%** | 26.06% | 22.23% | 16.86% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Loomis Core Bond Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Loomis, Sayles & Company, <br> L.P.<br>| 0.44% | 0.00% | **0.44%** | 1.53% | -0.59% | 1.48% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Loomis Short Term Bond Fund:** <br> **Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Loomis, Sayles & Company, <br> L.P.<br>| 0.55% | 0.00% | **0.55%** | 5.35% | 1.65% | 1.81% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Mid Cap Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.25% | 0.00% | **0.25%** | 13.65% | 10.06% | 9.41% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Multi-Manager Small Cap Value** <br> **Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Jacobs Levy Equity <br> Management, Inc. and WCM Investment <br> Management, LLC<br>| 1.06%\* | 0.00% | **1.06%** | 6.52% | 8.63% | 6.79% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT NASDAQ-100 Index Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.72%\* | 0.00% | **0.72%** |  |  |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT NS Partners International Focused** <br> **Growth Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: NS Partners Ltd<br>| 1.23%\* | 0.00% | **1.23%** | -1.72% | 0.88% | 3.47% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Putnam International Value Fund:** <br> **Class X**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Putnam Investment <br> Management, LLC<br>| 0.85% | 0.00% | **0.85%** | 4.44% | 5.75% | 4.11% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT S&P 500 Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.16% | 0.00% | **0.16%** | 24.88% | 14.35% | 12.93% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Small Cap Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.25% | 0.00% | **0.25%** | 11.34% | 7.22% | 7.67% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Victory Mid Cap Value Fund:** <br> **Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Victory Capital Management <br> Inc.<br>| 0.87%\* | 0.00% | **0.87%** | 8.54% | 7.17% | 7.10% |
| Equity | **Neuberger Berman Advisers** <br> **Management Trust - Mid-Cap Growth** <br> **Portfolio: Class I Shares**<br> Investment Advisor: Neuberger Berman <br> Investment Advisers LLC<br>| 0.90% | 0.00% | **0.90%** | 24.02% | 10.56% | 10.52% |
| Fixed Income | **Neuberger Berman Advisers** <br> **Management Trust - Short Duration** <br> **Bond Portfolio: Class I Shares**<br> Investment Advisor: Neuberger Berman <br> Investment Advisers LLC<br>| 0.92% | 0.00% | **0.92%** | 6.10% | 2.11% | 1.75% |
| Equity | **New Age Alpha Variable Funds Trust -** <br> **NAA Large Growth Series**<br> Investment Advisor: New Age Alpha <br> Advisors, LLC<br>| 0.85%\* | 0.00% | **0.85%** | 32.18% | 17.69% | 15.83% |
| Equity | **New Age Alpha Variable Funds Trust -** <br> **NAA Mid Growth Series**<br> Investment Advisor: New Age Alpha <br> Advisors, LLC<br>| 0.92%\* | 0.00% | **0.92%** | 17.38% | 9.98% | 10.38% |
| Equity | **New Age Alpha Variable Funds Trust -** <br> **NAA Small Cap Value Series**<br> Investment Advisor: New Age Alpha <br> Advisors, LLC<br>| 1.12%\* | 0.00% | **1.12%** | 8.51% | 7.56% | 6.57% |
| Convertibles | **New York Life Investments VP Funds** <br> **Trust - NYLI VP MacKay Convertible** <br> **Portfolio: Service Class**<br> Investment Advisor: New York Life <br> Investment Management LLC<br> Sub-Advisor: MacKay Shields LLC<br>| 0.83% | 0.00% | **0.83%** | 8.37% | 8.68% | 8.30% |
| Allocation | **Northern Lights Variable Trust -** <br> **Donoghue Forlines Momentum VIT** <br> **Fund: Class 1**<br> Investment Advisor: Donoghue Forlines <br> LLC<br>| 1.56% | 0.00% | **1.56%** | 23.03% | 7.90% | 6.83% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Aggressive Growth ETF Portfolio:** <br> **Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.54% | 0.00% | **0.54%** | 11.99% | 8.25% | 8.14% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Balanced ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.55% | 0.00% | **0.55%** | 6.86% | 4.68% | 4.84% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Conservative ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.56% | 0.00% | **0.56%** | 6.00% | 3.75% | 3.76% |

---

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Growth ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.55% | 0.00% | **0.55%** | 10.79% | 7.38% | 7.25% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Managed Risk Balanced ETF Portfolio:** <br> **Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.76% | 0.00% | **0.76%** | 6.09% | 3.23% | 3.54% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Managed Risk Growth ETF Portfolio:** <br> **Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.75% | 0.00% | **0.75%** | 7.71% | 4.11% | 3.96% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Managed Risk Moderate Growth ETF** <br> **Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.75% | 0.00% | **0.75%** | 7.58% | 3.88% | 3.99% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Moderate Growth ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.54% | 0.00% | **0.54%** | 8.84% | 6.06% | 6.11% |
| Allocation | **PIMCO Variable Insurance Trust - All** <br> **Asset Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br> Sub-Advisor: Research Affiliates, LLC<br>| 2.27%\* | 0.00% | **2.27%** | 3.74% | 4.42% | 4.37% |
| Commodities | **PIMCO Variable Insurance Trust -** <br> **CommodityRealReturn® Strategy** <br> **Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 2.28%\* | 0.00% | **2.28%** | 4.16% | 7.10% | 1.65% |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **Dynamic Bond Portfolio: Administrative** <br> **Class**<br> Investment Advisor: PIMCO<br>| 1.03% | 0.00% | **1.03%** | 5.61% | 2.37% | 2.57% |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **Emerging Markets Bond Portfolio:** <br> **Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.28% | 0.00% | **1.28%** | 7.53% | 0.92% | 3.37% |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **Global Bond Opportunities Portfolio** <br> **(Unhedged): Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.08% | 0.00% | **1.08%** | -0.50% | -0.33% | 0.82% |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **Global Core Bond (Hedged) Portfolio:** <br> **Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.04% | 0.00% | **1.04%** | 3.56% | 1.04% | 1.96% |
| Allocation | **PIMCO Variable Insurance Trust -** <br> **Global Managed Asset Allocation** <br> **Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.18%\* | 0.00% | **1.18%** | 10.81% | 6.11% | 5.85% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **PIMCO Variable Insurance Trust - High** <br> **Yield Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 0.80% | 0.00% | **0.80%** | 6.89% | 3.35% | 4.50% |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **Income Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.06% | 0.00% | **1.06%** | 5.41% | 2.71% |  |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **International Bond Portfolio (U.S.** <br> **Dollar-Hedged): Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.01% | 0.00% | **1.01%** | 5.46% | 1.34% | 2.51% |
| Fixed Income | **PIMCO Variable Insurance Trust - Long-**<br> **Term U.S. Government Portfolio:** <br> **Administrative Class**<br> Investment Advisor: PIMCO<br>| 2.58% | 0.00% | **2.58%** | -6.01% | -4.92% | -0.73% |
| Fixed Income | **PIMCO Variable Insurance Trust - Real** <br> **Return Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.07% | 0.00% | **1.07%** | 2.13% | 1.93% | 2.16% |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **Short-Term Portfolio: Administrative** <br> **Class**<br> Investment Advisor: PIMCO<br>| 0.62% | 0.00% | **0.62%** | 6.05% | 2.76% | 2.40% |
| Fixed Income | **PIMCO Variable Insurance Trust - Total** <br> **Return Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 0.79% | 0.00% | **0.79%** | 2.53% | -0.03% | 1.54% |
| Fixed Income | **ProFunds - ProFund Access VP High** <br> **Yield Fund**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 6.31% | 1.60% | 3.30% |
| Equity | **ProFunds - ProFund VP Asia 30**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 11.56% | -0.58% | 1.93% |
| Equity | **ProFunds - ProFund VP Banks**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 22.24% | 4.21% | 7.13% |
| Miscellaneous | **ProFunds - ProFund VP Bear**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | -13.71% | -13.65% | -12.57% |
| Equity | **ProFunds - ProFund VP Biotechnology**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68% | 0.00% | **1.68%** | -0.15% | 6.27% | 4.65% |
| Equity | **ProFunds - ProFund VP Bull**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 22.49% | 12.27% | 10.89% |
| Equity | **ProFunds - ProFund VP** <br> **Communication Services**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 32.64% | 10.97% | 7.08% |
| Equity | **ProFunds - ProFund VP Consumer** <br> **Discretionary**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 24.44% | 9.74% | 9.93% |
| Equity | **ProFunds - ProFund VP Consumer** <br> **Staples**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 10.36% | 6.25% | 6.12% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **ProFunds - ProFund VP Emerging** <br> **Markets**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 7.85% | 1.61% | 3.37% |
| Equity | **ProFunds - ProFund VP Energy**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 3.77% | 9.94% | 2.51% |
| Equity | **ProFunds - ProFund VP Europe 30**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 4.35% | 5.03% | 4.05% |
| Fixed Income | **ProFunds - ProFund VP Falling U.S.** <br> **Dollar**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | -5.12% | -2.94% | -3.17% |
| Equity | **ProFunds - ProFund VP Financials**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 28.45% | 9.67% | 9.53% |
| Equity | **ProFunds - ProFund VP Health Care**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 0.82% | 5.85% | 7.27% |
| Equity | **ProFunds - ProFund VP Industrials**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 15.47% | 9.02% | 9.31% |
| Equity | **ProFunds - ProFund VP International**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 0.88% | 2.14% | 2.66% |
| Equity | **ProFunds - ProFund VP Internet**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 29.34% | 10.64% | 13.50% |
| Equity | **ProFunds - ProFund VP Japan**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 22.22% | 12.27% | 9.06% |
| Equity | **ProFunds - ProFund VP Large-Cap** <br> **Growth**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 33.78% | 15.07% | 13.29% |
| Equity | **ProFunds - ProFund VP Large-Cap** <br> **Value**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 10.42% | 8.71% | 8.18% |
| Equity | **ProFunds - ProFund VP Materials**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | -1.54% | 8.03% | 5.99% |
| Equity | **ProFunds - ProFund VP Mid-Cap** <br> **Growth**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 13.89% | 8.19% | 8.06% |
| Equity | **ProFunds - ProFund VP Mid-Cap Value**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 9.85% | 8.45% | 7.37% |
| Allocation | **ProFunds - ProFund VP Mid-Cap**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 11.14% | 7.82% | 7.22% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **ProFunds - ProFund VP NASDAQ-100**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 23.43% | 17.66% | 16.13% |
| Equity | **ProFunds - ProFund VP** <br> **Pharmaceuticals**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 3.41% | 2.79% | 3.14% |
| Equity | **ProFunds - ProFund VP Precious** <br> **Metals**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 6.58% | 1.69% | 4.23% |
| Equity | **ProFunds - ProFund VP Real Estate**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 3.55% | 1.39% | 3.91% |
| Miscellaneous | **ProFunds - ProFund VP Rising Rates** <br> **Opportunity**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.67% | 0.00% | **1.67%** | 19.00% | 7.05% | -0.06% |
| Equity | **ProFunds - ProFund VP Semiconductor**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 70.73% | 34.76% | 25.95% |
| Miscellaneous | **ProFunds - ProFund VP Short** <br> **Emerging Markets**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | -4.65% | -7.60% | -8.67% |
| Miscellaneous | **ProFunds - ProFund VP Short** <br> **International**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 3.50% | -5.57% | -6.43% |
| Miscellaneous | **ProFunds - ProFund VP Short Mid-Cap**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | -6.55% | -12.39% | -11.30% |
| Miscellaneous | **ProFunds - ProFund VP Short** <br> **NASDAQ-100**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | -16.21% | -19.99% | -18.21% |
| Miscellaneous | **ProFunds - ProFund VP Short Small-**<br> **Cap**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | -6.51% | -11.57% | -10.90% |
| Equity | **ProFunds - ProFund VP Small-Cap** <br> **Growth**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.10% | **1.78%** | 7.80% | 6.41% | 7.73% |
| Equity | **ProFunds - ProFund VP Small-Cap** <br> **Value**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 5.87% | 6.35% | 6.37% |
| Equity | **ProFunds - ProFund VP Small-Cap**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 9.46% | 5.37% | 5.85% |
| Equity | **ProFunds - ProFund VP Technology**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.66% | 0.00% | **1.66%** | 19.80% | 18.90% | 18.02% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **ProFunds - ProFund VP U.S.** <br> **Government Plus**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.38%\* | 0.00% | **1.38%** | -12.83% | -10.63% | -4.12% |
| Equity | **ProFunds - ProFund VP UltraBull**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 42.02% | 18.93% | 17.99% |
| Equity | **ProFunds - ProFund VP UltraMid-Cap**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 17.02% | 8.40% | 10.09% |
| Equity | **ProFunds - ProFund VP UltraNASDAQ-**<br> **100**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 41.41% | 27.60% | 27.56% |
| Miscellaneous | **ProFunds - ProFund VP UltraShort** <br> **NASDAQ-100**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | -33.81% | -40.95% | -36.79% |
| Allocation | **ProFunds - ProFund VP UltraSmall-Cap**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 10.70% | 1.84% | 6.01% |
| Equity | **ProFunds - ProFund VP Utilities**<br> Investment Advisor: ProFund Advisors <br> LLC<br>| 1.68%\* | 0.00% | **1.68%** | 21.28% | 4.49% | 6.50% |
| Fixed Income | **Putnam Variable Trust - Putnam VT** <br> **High Yield Fund: Class IB**<br> Investment Advisor: Franklin Advisers, Inc.<br> Sub-Advisor: Putnam Investment <br> Management, LLC, Franklin Templeton <br> Investment Management Limited<br>| 0.98% | 0.00% | **0.98%** | 7.86% | 3.38% | 4.25% |
| Equity | **Putnam Variable Trust - Putnam VT** <br> **International Value Fund: Class IB**<br> Investment Advisor: Putnam Investment <br> Management, LLC<br> Sub-Advisor: Franklin Advisers, Inc., <br> Franklin Templeton Investment <br> Management Limited, The Putnam <br> Advisory Company, LLC<br>| 1.07% | 0.00% | **1.07%** | 5.21% | 6.81% | 5.46% |
| Equity | **Putnam Variable Trust - Putnam VT** <br> **Large Cap Value Fund: Class IB**<br> Investment Advisor: Putnam Investment <br> Management, LLC<br> Sub-Advisor: Franklin Advisers, Inc., <br> Franklin Templeton Investment <br> Management Limited<br>| 0.80% | 0.00% | **0.80%** | 19.14% | 12.45% | 10.88% |
| Equity | **Putnam Variable Trust - Putnam VT** <br> **Sustainable Leaders Fund: Class IB**<br> Investment Advisor: Putnam Investment <br> Management, LLC<br> Sub-Advisor: Franklin Advisers, Inc., <br> Franklin Templeton Investment <br> Management Limited<br>| 0.88% | 0.00% | **0.88%** | 23.02% | 13.72% | 13.50% |
| Equity | **Royce Capital Fund - Royce Micro-Cap** <br> **Portfolio: Investment Class**<br> Investment Advisor: Royce & Associates, <br> LP<br>| 1.18% | 0.00% | **1.18%** | 13.67% | 11.00% | 7.28% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Royce Capital Fund - Royce Small-Cap** <br> **Portfolio: Investment Class**<br> Investment Advisor: Royce & Associates, <br> LP<br>| 1.14% | 0.00% | **1.14%** | 3.40% | 7.18% | 5.63% |
| Equity | **Rydex Variable Trust - Banking Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.75%\* | 0.00% | **1.75%** | 23.11% | 5.15% | 6.15% |
| Equity | **Rydex Variable Trust - Basic Materials** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | -2.47% | 7.17% | 6.42% |
| Equity | **Rydex Variable Trust - Biotechnology** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | -1.40% | 2.11% | 3.52% |
| Commodities | **Rydex Variable Trust - Commodities** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.77%\* | 0.00% | **1.77%** | 8.29% | 6.11% | 0.05% |
| Miscellaneous | **Rydex Variable Trust - Dow 2x Strategy** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.79%\* | 0.00% | **1.79%** | 20.63% | 11.13% | 15.58% |
| Equity | **Rydex Variable Trust - Electronics Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | 16.13% | 21.13% | 19.69% |
| Equity | **Rydex Variable Trust - Energy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | 0.07% | 8.35% | 0.21% |
| Equity | **Rydex Variable Trust - Energy Services** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | -7.90% | 0.19% | -9.34% |
| Equity | **Rydex Variable Trust - Europe 1.25x** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.75%\* | 0.00% | **1.75%** | -3.00% | 3.80% | 3.52% |
| Equity | **Rydex Variable Trust - Financial** <br> **Services Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 22.26% | 9.03% | 8.33% |
| Alternative | **Rydex Variable Trust - Global Managed** <br> **Futures Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 2.11%\* | 0.00% | **2.11%** | 0.37% | 3.73% | 0.75% |
| Miscellaneous | **Rydex Variable Trust - Government** <br> **Long Bond 1.2x Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.40%\* | 0.00% | **1.40%** | -12.45% | -10.37% | -4.04% |
| Equity | **Rydex Variable Trust - Health Care** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | 0.14% | 5.47% | 6.51% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Rydex Variable Trust - High Yield** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.67%\* | 0.00% | **1.67%** | 6.68% | 1.50% | 3.71% |
| Equity | **Rydex Variable Trust - Internet Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 23.40% | 8.91% | 10.93% |
| Miscellaneous | **Rydex Variable Trust - Inverse Dow 2x** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.78%\* | 0.00% | **1.78%** | -15.94% | -24.02% | -23.94% |
| Miscellaneous | **Rydex Variable Trust - Inverse** <br> **Government Long Bond Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 5.06%\* | 0.00% | **5.06%** | 16.91% | 7.26% | 1.10% |
| Miscellaneous | **Rydex Variable Trust - Inverse Mid-Cap** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.75%\* | 0.00% | **1.75%** | -6.36% | -11.74% | -10.57% |
| Miscellaneous | **Rydex Variable Trust - Inverse** <br> **NASDAQ-100® Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.79%\* | 0.00% | **1.79%** | -15.79% | -18.59% | -17.35% |
| Miscellaneous | **Rydex Variable Trust - Inverse Russell** <br> **2000® Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.76%\* | 0.00% | **1.76%** | -5.64% | -11.13% | -10.29% |
| Miscellaneous | **Rydex Variable Trust - Inverse S&P 500** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.75%\* | 0.00% | **1.75%** | -13.11% | -13.36% | -12.21% |
| Miscellaneous | **Rydex Variable Trust - Japan 2x** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.63%\* | 0.00% | **1.63%** | 1.01% | -1.35% | 6.25% |
| Equity | **Rydex Variable Trust - Leisure Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 16.50% | 4.77% | 6.43% |
| Allocation | **Rydex Variable Trust - Mid-Cap 1.5x** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.77%\* | 0.00% | **1.77%** | 15.26% | 9.51% | 7.12% |
| Alternative | **Rydex Variable Trust - Multi-Hedge** <br> **Strategies Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.82%\* | 0.00% | **1.82%** | -3.66% | 2.43% | 1.68% |
| Miscellaneous | **Rydex Variable Trust - NASDAQ-100®** <br> **2x Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.87%\* | 0.00% | **1.87%** | 41.90% | 27.93% | 28.15% |
| Equity | **Rydex Variable Trust - NASDAQ-100®** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.70%\* | 0.00% | **1.70%** | 23.91% | 17.87% | 16.48% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Rydex Variable Trust - Nova Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.68%\* | 0.00% | **1.68%** | 32.76% | 16.37% | 15.44% |
| Equity | **Rydex Variable Trust - Precious Metals** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 8.12% | 4.01% | 6.67% |
| Equity | **Rydex Variable Trust - Real Estate Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 5.03% | 1.22% | 3.44% |
| Equity | **Rydex Variable Trust - Retailing Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 16.60% | 9.90% | 7.99% |
| Equity | **Rydex Variable Trust - Russell 2000®** <br> **1.5x Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.81%\* | 0.00% | **1.81%** | 10.95% | 4.79% | 6.95% |
| Miscellaneous | **Rydex Variable Trust - Russell 2000®** <br> **2x Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.87%\* | 0.00% | **1.87%** | 9.56% | 2.34% | 6.32% |
| Equity | **Rydex Variable Trust - S&P 500 2x** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.86%\* | 0.00% | **1.86%** | 42.25% | 18.36% | 18.43% |
| Equity | **Rydex Variable Trust - S&P 500 Pure** <br> **Growth Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 26.67% | 9.44% | 9.23% |
| Equity | **Rydex Variable Trust - S&P 500 Pure** <br> **Value Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 10.84% | 6.32% | 5.99% |
| Equity | **Rydex Variable Trust - S&P MidCap 400** <br> **Pure Growth Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 16.15% | 8.58% | 6.25% |
| Equity | **Rydex Variable Trust - S&P MidCap 400** <br> **Pure Value Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 4.42% | 12.27% | 8.56% |
| Equity | **Rydex Variable Trust - S&P SmallCap** <br> **600 Pure Growth Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 8.19% | 4.21% | 5.62% |
| Equity | **Rydex Variable Trust - S&P SmallCap** <br> **600 Pure Value Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 3.74% | 9.22% | 5.40% |
| Miscellaneous | **Rydex Variable Trust - Strengthening** <br> **Dollar 2x Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 2.03%\* | 0.00% | **2.03%** | 21.01% | 6.23% | 4.68% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Rydex Variable Trust - Technology** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | 23.97% | 16.19% | 15.82% |
| Equity | **Rydex Variable Trust -** <br> **Telecommunications Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.77%\* | 0.00% | **1.77%** | 15.73% | 1.71% | 3.07% |
| Equity | **Rydex Variable Trust - Transportation** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 1.56% | 7.13% | 5.26% |
| Equity | **Rydex Variable Trust - Utilities Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 19.86% | 4.09% | 6.09% |
| Miscellaneous | **Rydex Variable Trust - Weakening** <br> **Dollar 2x Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 2.00%\* | 0.00% | **2.00%** | -13.21% | -7.24% | -6.27% |
| Equity | **T. Rowe Price Equity Series, Inc. - T.** <br> **Rowe Price Blue Chip Growth Portfolio:** <br> **II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br>| 0.99% | 0.00% | **0.99%** | 35.17% | 14.18% | 14.48% |
| Equity | **T. Rowe Price Equity Series, Inc. - T.** <br> **Rowe Price Equity Income Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br>| 0.98% | 0.00% | **0.98%** | 11.38% | 8.21% | 8.00% |
| Equity | **T. Rowe Price Equity Series, Inc. - T.** <br> **Rowe Price Health Sciences Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br>| 1.10% | 0.00% | **1.10%** | 1.42% | 5.81% | 8.20% |
| Equity | **T. Rowe Price Equity Series, Inc. - T.** <br> **Rowe Price Mid-Cap Growth Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br> Sub-Advisor: T. Rowe Price Investment <br> Management, Inc.<br>| 1.08% | 0.00% | **1.08%** | 9.04% | 7.35% | 9.85% |
| Fixed Income | **T. Rowe Price Fixed Income Series, Inc.** <br> **- T. Rowe Price Limited-Term Bond** <br> **Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br>| 0.75%\* | 0.00% | **0.75%** | 4.70% | 1.72% | 1.56% |
| Equity | **Third Avenue Variable Series Trust -** <br> **Third Avenue Value Portfolio**<br> Investment Advisor: Third Avenue <br> Management LLC<br>| 1.30%\* | 0.00% | **1.30%** | -2.27% | 10.31% | 5.45% |
| Fixed Income | **VanEck VIP Trust - VanEck VIP** <br> **Emerging Markets Bond Fund: Initial** <br> **Class**<br> Investment Advisor: Van Eck Associates <br> Corporation<br>| 1.11%\* | 0.00% | **1.11%** | 2.77% | 2.18% | 2.03% |
| Equity | **VanEck VIP Trust - VanEck VIP Global** <br> **Gold Fund: Class S**<br> Investment Advisor: Van Eck Associates <br> Corporation<br>| 1.45%\* | 0.00% | **1.45%** | 14.41% | 5.46% | 6.69% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **VanEck VIP Trust - VanEck VIP Global** <br> **Resources Fund: Initial Class**<br> Investment Advisor: Van Eck Associates <br> Corporation<br>| 1.06% | 0.00% | **1.06%** | -2.83% | 7.54% | 0.82% |
| Allocation | **Vanguard Variable Insurance Fund -** <br> **Balanced Portfolio**<br> Investment Advisor: Wellington <br> Management Company, LLP<br>| 0.20% | 0.25% | **0.45%** | 14.80% | 8.18% | 8.37% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Capital Growth Portfolio**<br> Investment Advisor: PRIMECAP <br> Management Company<br>| 0.34% | 0.25% | **0.59%** | 13.41% | 11.86% | 12.37% |
| Allocation | **Vanguard Variable Insurance Fund -** <br> **Conservative Allocation Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.13% | 0.25% | **0.38%** | 7.49% | 4.04% | 4.90% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Diversified Value Portfolio**<br> Investment Advisor: Hotchkis and Wiley <br> Capital Management, LLC, Lazard Asset <br> Management<br>| 0.28% | 0.25% | **0.53%** | 14.89% | 12.24% | 9.76% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Equity Income Portfolio**<br> Investment Advisor: Wellington <br> Management Company, LLP; Vanguard <br> Group Inc. (Quantitative Equity Group)<br>| 0.29% | 0.25% | **0.54%** | 15.12% | 9.85% | 9.89% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Equity Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.14% | 0.25% | **0.39%** | 24.84% | 14.36% | 12.95% |
| Fixed Income | **Vanguard Variable Insurance Fund -** <br> **Global Bond Index Portfolio**<br> Investment Advisor: The Vanguard Group <br> Inc. (Vanguard Fixed Income Group)<br>| 0.13% | 0.25% | **0.38%** | 2.03% | -0.23% |  |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Growth Portfolio**<br> Investment Advisor: Wellington <br> Management Company, LLP<br>| 0.34% | 0.25% | **0.59%** | 33.14% | 15.96% | 14.67% |
| Fixed Income | **Vanguard Variable Insurance Fund -** <br> **High Yield Bond Portfolio**<br> Investment Advisor: Wellington <br> Management Company, LLP and <br> Vanguard Group, Inc. (Vanguard Fixed <br> Income Group)<br>| 0.24% | 0.25% | **0.49%** | 6.30% | 3.37% | 4.53% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **International Portfolio**<br> Investment Advisor: Baillie Gifford <br> Overseas Ltd.; Schroder Investment <br> Management North America, Inc.<br>| 0.31% | 0.25% | **0.56%** | 9.01% | 6.27% | 8.40% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Mid-Cap Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.17% | 0.25% | **0.42%** | 15.08% | 9.70% | 9.41% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Allocation | **Vanguard Variable Insurance Fund -** <br> **Moderate Allocation Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.13% | 0.25% | **0.38%** | 10.32% | 6.06% | 6.52% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Real Estate Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.26% | 0.25% | **0.51%** | 4.74% | 2.84% | 4.99% |
| Fixed Income | **Vanguard Variable Insurance Fund -** <br> **Short-Term Investment-Grade Portfolio**<br> Investment Advisor: The Vanguard Group <br> Inc. (Vanguard Fixed Income Group)<br>| 0.14% | 0.25% | **0.39%** | 4.89% | 1.97% | 2.24% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Small Company Growth Portfolio**<br> Investment Advisor: ArrowMark Partners; <br> The Vanguard Group, Inc. (Vanguard <br> Quantitative Equity Group)<br>| 0.29% | 0.00% | **0.29%** | 11.38% | 6.96% | 8.66% |
| Fixed Income | **Vanguard Variable Insurance Fund -** <br> **Total Bond Market Index Portfolio**<br> Investment Advisor: The Vanguard Group <br> Inc. (Vanguard Fixed Income Group)<br>| 0.14% | 0.25% | **0.39%** | 1.24% | -0.39% | 1.25% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Total International Stock Market Index** <br> **Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.11% | 0.25% | **0.36%** | 5.06% | 4.23% |  |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Total Stock Market Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.13% | 0.25% | **0.38%** | 23.71% | 13.67% | 12.37% |
| Fixed Income | **Victory Variable Insurance Funds II -** <br> **Victory Pioneer Bond VCT Portfolio:** <br> **Class II (formerly, Pioneer Variable** <br> **Contracts Trust - Pioneer Bond VCT** <br> **Portfolio: Class II)**<br> Investment Advisor: Victory Capital <br> Management, Inc.<br>| 0.83% | 0.00% | **0.83%** | 3.02% | 0.43% | 1.73% |
| Equity | **Victory Variable Insurance Funds II -** <br> **Victory Pioneer Fund VCT Portfolio:** <br> **Class II (formerly, Pioneer Variable** <br> **Contracts Trust - Pioneer Fund VCT** <br> **Portfolio: Class II)**<br> Investment Advisor: Victory Capital <br> Management, Inc.<br>| 1.00% | 0.00% | **1.00%** | 22.31% | 14.86% | 13.05% |
| Equity | **Victory Variable Insurance Funds II -** <br> **Victory Pioneer Mid Cap Value VCT** <br> **Portfolio: Class II (formerly, Pioneer** <br> **Variable Contracts Trust - Pioneer Mid** <br> **Cap Value VCT Portfolio: Class II)**<br> Investment Advisor: Victory Capital <br> Management, Inc.<br>| 1.01% | 0.00% | **1.01%** | 10.64% | 9.02% | 6.91% |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Victory Variable Insurance Funds II -** <br> **Victory Pioneer Strategic Income VCT** <br> **Portfolio: Class II (formerly, Pioneer** <br> **Variable Contracts Trust - Pioneer** <br> **Strategic Income VCT Portfolio: Class** <br> **II)**<br> Investment Advisor: Victory Capital <br> Management, Inc.<br>| 1.07%\* | 0.00% | **1.07%** | 3.88% | 1.40% | 2.45% |
| Equity | **Virtus Variable Insurance Trust - Virtus** <br> **Duff & Phelps Real Estate Securities** <br> **Series: Class A**<br> Investment Advisor: Virtus Investment <br> Advisers, Inc.<br> Sub-Advisor: Duff & Phelps Investment <br> Management Co., an affiliate of VIA.<br>| 1.10%\* | 0.00% | **1.10%** | 10.92% | 5.58% | 6.12% |
| Fixed Income | **Virtus Variable Insurance Trust - Virtus** <br> **Newfleet Multi-Sector Intermediate** <br> **Bond Series: Class A**<br> Investment Advisor: Virtus Investment <br> Advisers, Inc.<br> Sub-Advisor: Newfleet Asset <br> Management, an operating division of <br> Virtus Fixed Income Advisers, LLC, an <br> affiliate of VIA.<br>| 0.94%\* | 0.00% | **0.94%** | 5.91% | 2.32% | 3.34% |
| Equity | **Virtus Variable Insurance Trust - Virtus** <br> **SGA International Growth Series: Class** <br> **A**<br> Investment Advisor: Virtus Investment <br> Advisers, Inc.<br> Sub-Advisor: Sustainable Growth <br> Advisers, LP, an affiliate of VIA.<br>| 1.14%\* | 0.00% | **1.14%** | -5.59% | 3.96% | 2.05% |

---

\*

This underlying mutual fund's current expenses reflect a temporary fee reduction.

<sup>1</sup>

Reflects the current Low Cost Fund Platform Fee. The maximum Low Cost Fund Platform Fee applicable for any Sub-account is 0.35%.

**Early Cut-Off Times** 

The following Investment Portfolios currently impose the following transfer cut-off times before the end of the Business Day:

**2:30 P.M.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Balanced Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Capital Growth Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Conservative Allocation Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Diversified Value Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Equity Income Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Equity Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Global Bond Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Growth Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - High Yield Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - International Portfolio

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Moderate Allocation Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Real Estate Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Small Company Growth Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Total International Stock Market Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio

**2:55 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund Access VP High Yield Fund

**3:30 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advisors Preferred Trust - Gold Bullion Strategy Portfolio

**3:45 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - High Yield Strategy Fund

**3:50 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Banking Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Basic Materials Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Biotechnology Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Commodities Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Consumer Products Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Electronics Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Energy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Energy Services Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Financial Services Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Health Care Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Internet Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Leisure Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Precious Metals Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Real Estate Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Retailing Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P 500 Pure Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P 500 Pure Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P MidCap 400 Pure Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Technology Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Telecommunications Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Transportation Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Utilities Fund

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Weakening Dollar 2x Strategy Fund

**3:55 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Asia 30

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Banks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Bear

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Biotechnology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Bull

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Communication Services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Consumer Discretionary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Consumer Staples

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Emerging Markets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Energy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Europe 30

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Falling U.S. Dollar

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Financials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Government Money Market

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Health Care

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Industrials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP International

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Internet

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Japan

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Large-Cap Growth

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Large-Cap Value

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Mid-Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Mid-Cap Growth

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Mid-Cap Value

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP NASDAQ-100

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Pharmaceuticals

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Precious Metals

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Real Estate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Rising Rates Opportunity

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Semiconductor

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Short Emerging Markets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Short International

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Short Mid-Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Short NASDAQ-100

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Short Small-Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Small-Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Small-Cap Growth

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Small-Cap Value

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Technology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP U.S. Government Plus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP UltraBull

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP UltraMid-Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP UltraNASDAQ-100

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP UltraShort NASDAQ-100

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP UltraSmall-Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Utilities

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Dow 2x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Europe 1.25x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Government Long Bond 1.2x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Inverse Dow 2x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Inverse Government Long Bond Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Inverse Mid-Cap Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Inverse NASDAQ-100® Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Inverse Russell 2000® Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Inverse S&P 500 Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Japan 2x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Mid-Cap 1.5x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - NASDAQ-100® 2x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - NASDAQ-100® Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Nova Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Russell 2000® 1.5x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Russell 2000® 2x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P 500 2x Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Strengthening Dollar 2x Strategy Fund

------

**Outside back cover page**

This summary prospectus incorporates by reference the statutory prospectus and Statement of Additional Information, both dated May 1, 2025, and both as supplemented July 1, 2025. The statutory prospectus and Statement of Additional Information may be obtained, free of charge, at https://nationwide.onlineprospectus.net/NW/C000148690NW/index.php.

Reports and other information about the Separate Account are available on the SEC's website at http://www.sec.gov. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

SEC Contract Identifier: [___]

------

**Monument Advisor Select**<sup>®</sup> **NY**

**Individual Variable Annuity**

Issued by

**Nationwide Life Insurance Company**

through its

**Nationwide Jefferson National VA Separate Account 1**

**Summary Prospectus for New Investors**

July 1, 2025

The contracts described in this prospectus are only available in the state of New York.

This summary prospectus summarizes key features of the contract.

Before you invest, you should also review the statutory prospectus for the contract, which contains more information about the contract's features, benefits, and risks. You can find this document and other information about the contract online at https://nationwide.onlineprospectus.net/NW/C000220424NW/index.php?ctype=product_prospectus. You can also obtain this information at no cost by calling 1-866-667-0561 or by sending an email request to NAS_Service@nationwide.com.

**If you change your mind about owning the Contract, you may cancel the Contract within 10 days after receiving it (or 60 days if it is a Replacement Contract) and We will cancel the Contract. Nationwide deems this period as beginning on the date the Contract is posted to your Secure Online Account. If you elect to receive the Contract in paper, Nationwide deems this period as ending 15 days after We mail the Contract, or 60 days if it is a Replacement Contract. On the day We receive your request We will return your Contract Value. This refund amount will be the Contract Value plus the amount of fees and other charges deducted from the Contract via redemption of Accumulation Units, if applicable, such as Subscription Fees. The amount refunded will not include any underlying fund charges or Contract fees that were assessed daily as part of the Accumulation Unit value calculation during the free look period. See *Free Look* in the statutory prospectus for additional details.**

You should review the statutory prospectus, or consult with your financial professional, for additional information about the specific cancellation terms that apply.

Additional information about certain investment products, including variable annuities, has been prepared by the SEC's staff and is available at Investor.gov.

This Contract may be available through third-party financial intermediaries who charge an investment advisory fee for their services, and these fees are in addition to contract fees and expenses described in this prospectus. If the Owner elects to pay the investment advisory fees from the Contract Value, this may reduce the death benefit and other benefits under the Contract, may be subject to federal and state income taxes, and may be subject to a 10% federal tax penalty.

------

**Table of Contents**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **Page** |
| **[Definitions of Special Terms](#xx_e108109a-4ca5-4b5d-82ef-6e97a4933607_1)** | &nbsp;&nbsp; 3<br>|
| **[Important Information You Should Consider About the Contract](#xx_15a2f267-3b09-4545-bce7-bdcd9069f0f4_1)** | &nbsp;&nbsp; 5<br>|
| **[Overview of the Contract](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_1)** | &nbsp;&nbsp; 7<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Purpose of the Contract](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_1) | &nbsp;&nbsp; 7<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Phases of the Contract](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_1) | &nbsp;&nbsp; 7<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Contract Features](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_1) | &nbsp;&nbsp; 7<br>|
| **[Benefits Under the Contract](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_2)** | &nbsp;&nbsp; 8<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Standard Benefits Table](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_2) | &nbsp;&nbsp; 8<br>|
| **[Buying the Contract](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_2)** | &nbsp;&nbsp; 8<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Purchase Payments](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_2) | &nbsp;&nbsp; 8<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Allocation of Purchase Payments](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_3) | &nbsp;&nbsp; 9<br>|
| **[Making Withdrawals: Accessing the Money in Your Contract](#xx_424baf2a-6659-4805-b632-ae1cd4c78c5e_3)** | &nbsp;&nbsp; 9<br>|
| **[Additional Information About Fees](#xx_94079f9b-cf54-4177-b72f-e77ab386d242_1)** | &nbsp;&nbsp; 10<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; [Example](#xx_94079f9b-cf54-4177-b72f-e77ab386d242_1) | &nbsp;&nbsp; 10<br>|
| **[Appendix: More Information About the Investment Portfolios](#xx_98a383e9-2672-447e-899c-b5ea89d0aec5_1)** | &nbsp;&nbsp; 12 |

---

------

**Definitions of Special Terms**

Because of the complex nature of the Contract, We have used certain words or terms in this prospectus, which may need additional explanation. We have identified the following as some of these words or terms.

---

| |
|:---|
| **Accumulation Period:** The period during which you invest money in your Contract. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Accumulation Unit:** A measurement We use to calculate the value of the variable portion of your Contract during the <br> Accumulation Period.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Advisor Fee:** Any fee charged by any Investment Advisor or financial professional you hire and processed as such by <br> the Company as a withdrawal from the Contract Value.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Annuitant(s) :** The natural person(s) on whose life (lives) We base Annuity Payments. On or after the Annuity Date, the <br> Annuitant shall also include any joint Annuitant. In the event of joint Annuitants, the life of the primary Annuitant is <br> used to determine Annuity Payments. If the Contract is owned by a non-natural Owner and joint Annuitants are <br> named, the Death Benefit Amount will be calculated upon the death of the first Annuitant to die.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Annuity Date :** The date on which Annuity Payments are to begin, as selected by you, or as required by the Contract or <br> by state or federal law. If a prior date is not selected by you, the Annuity Date is the Maximum Maturity Date. For <br> joint Annuitants all provisions are based on the age of the primary Annuitant.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Annuity Options:** Income plans which can be elected to provide periodic Annuity Payments beginning on the Annuity <br> Date.<br>|
| **Annuity Payments:** Periodic income payments provided under the terms of one of the Annuity Options. |
| **Annuity Period:** The period during which We make income payments to you. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Beneficiary :** The person(s) or entities, designated to receive any benefits under the Contract if you or, in the case of a <br> non-natural Owner, the Annuitant dies.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Business Day:** Generally, any day on which the New York Stock Exchange is open for trading. Our Business Day ends <br> at the closing of regular trading on the New York Stock Exchange. Some of the Investment Options may impose <br> earlier deadlines for trading. These deadlines are described in further detail under the heading "Transfers."<br>|
| **Code:** The Internal Revenue Code of 1986, as amended. |
| **Company :** Nationwide Life Insurance Company, also referred to as Nationwide, We, Us, and Our. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Contract :** The Monument Advisor Select<sup>®</sup> NY individual variable annuity contract, which provides variable investment <br> options offered by the Company.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Contract Value:** Your Contract Value is the sum of amounts held under your Contract in the various Sub-accounts of <br> the Separate Account.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Death Benefit Amount:** The Death Benefit Amount is the amount payable to the Beneficiary upon the death of the <br> Owner, or for a Contract owned by a non-natural person, the death of the Annuitant.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Free Look Period:** If you change your mind about owning the Contract, the Free Look Period is the period of time <br> within which you may cancel your Contract. This period of time is 10 days from receipt, or 60 days if it is a <br> Replacement Contract.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Investment Advisor:** A registered investment adviser, an investment adviser who is exempt from registration with the <br> Securities and Exchange Commission or other adviser selected by you to provide you asset allocation and <br> investment advisory services.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Investment Options:** The investment choices available to Owners. These choices include the Sub-accounts of the <br> Separate Account.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Investment Portfolio(s):** The variable Investment Options available under the Contract. Each Sub-account has its <br> own investment objective and is invested in the underlying Investment Portfolio.<br>|

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| &nbsp;&nbsp;&nbsp;&nbsp; **Low Cost Fund Platform Fee:** Fee imposed by the Company on Contract Value invested in certain Sub-accounts that <br> invest in low cost Investment Portfolios. This fee is assessed daily as part of the daily Accumulation Unit value <br> calculation. See *Low Cost Fund Platform Fee* for further details, including a list of the Sub-accounts for which the <br> Company currently imposes the fee.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Maximum Maturity Date:** The date on which the Annuitant attains age 100. For joint Annuitants, all provisions which <br> are based on age are based on the age of the primary Annuitant.<br>|
| **Non-Natural Owner:** The trust or entity (*e.g.* CRT, Family Trust, Corporation, Other) that will own the Contract. |
| **Owner:** You, the purchaser of the Contract, are the Owner. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Purchase Payment:** The money you give Us to buy the Contract, as well as any additional money you give Us to <br> invest in the Contract after you own it.<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Replacement Contract:** A Contract purchased with the proceeds from another contract (a contract issued by the <br> Company and/or another insurance company).<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; **Secure Online Account:** Your Secure Online Account is a password protected electronic account through which you <br> can access personal documents relating to your Contract, such as transaction confirmations, periodic account <br> statements and other personal correspondence. You create your Secure Online Account by going to our Website <br> after you purchase the Contract and we maintain it for you on our Website thereafter.<br>|
| **Separate Account:** Nationwide Jefferson National VA Separate Account 1, which invests in the Investment Portfolios. |
| **Sub-account :** A segment within the Separate Account which invests in a single Investment Portfolio. |
| **Subscription Fee:** $20 per month fee charged by Us to issue and administer the Contract. |
| &nbsp;&nbsp;&nbsp;&nbsp; **Website:** https://www.nationwideadvisory.com. You may obtain information about your Contract and request certain <br> transactions through the Website.<br>|

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**Important Information You Should Consider About the Contract** 

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|:---|:---|:---|:---|
| **FEES AND EXPENSES**<br> (see *Additional Information About Fees* later in this summary prospectus and *Expenses* in the statutory prospectus) | **FEES AND EXPENSES**<br> (see *Additional Information About Fees* later in this summary prospectus and *Expenses* in the statutory prospectus) | **FEES AND EXPENSES**<br> (see *Additional Information About Fees* later in this summary prospectus and *Expenses* in the statutory prospectus) | **FEES AND EXPENSES**<br> (see *Additional Information About Fees* later in this summary prospectus and *Expenses* in the statutory prospectus) |
| Charges for Early <br> Withdrawals<br>|  |  |  |
| Transaction Charges | &nbsp;&nbsp; We currently do not but reserve the right to assess a Transfer Fee in the event of excessive <br> transfers (see *Transfer Fee* in the statutory prospectus). | &nbsp;&nbsp; We currently do not but reserve the right to assess a Transfer Fee in the event of excessive <br> transfers (see *Transfer Fee* in the statutory prospectus). | &nbsp;&nbsp; We currently do not but reserve the right to assess a Transfer Fee in the event of excessive <br> transfers (see *Transfer Fee* in the statutory prospectus). |
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; The table below describes the fees and expenses that you may pay each year, depending <br> on the options chosen. Please refer to your contract specifications page for information <br> about the specific fees you will pay each year based on the options you have elected. The <br> fees and expenses do not reflect any investment advisory fees paid to financial <br> professionals from Contract Value or other assets you own; if those charges were <br> reflected, the fees and expenses would be higher. | &nbsp;&nbsp; The table below describes the fees and expenses that you may pay each year, depending <br> on the options chosen. Please refer to your contract specifications page for information <br> about the specific fees you will pay each year based on the options you have elected. The <br> fees and expenses do not reflect any investment advisory fees paid to financial <br> professionals from Contract Value or other assets you own; if those charges were <br> reflected, the fees and expenses would be higher. | &nbsp;&nbsp; The table below describes the fees and expenses that you may pay each year, depending <br> on the options chosen. Please refer to your contract specifications page for information <br> about the specific fees you will pay each year based on the options you have elected. The <br> fees and expenses do not reflect any investment advisory fees paid to financial <br> professionals from Contract Value or other assets you own; if those charges were <br> reflected, the fees and expenses would be higher. |
| Ongoing Fees and <br> Expenses (annual <br> charges) | **Annual Fee** | **Minimum** | **Maximum** |
| Ongoing Fees and <br> Expenses (annual <br> charges) | Base Contract | 0.24%<sup>1</sup> <br>| 0.24%<sup>1</sup> <br>|
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; Investment Portfolios (underlying mutual fund <br> fees and expenses)<br>| 0.16%<sup>2</sup> <br>| 2.58%<sup>2</sup> <br>|
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; <sup>1</sup> As a percentage of Variable Account value.<br> <sup>2</sup> As a percentage of underlying mutual fund assets. Minimum and maximum expenses <br> include the maximum Low Cost Fund Platform Fee (see *Low Cost Fund Platform Fee* in <br> the statutory prospectus). | &nbsp;&nbsp; <sup>1</sup> As a percentage of Variable Account value.<br> <sup>2</sup> As a percentage of underlying mutual fund assets. Minimum and maximum expenses <br> include the maximum Low Cost Fund Platform Fee (see *Low Cost Fund Platform Fee* in <br> the statutory prospectus). | &nbsp;&nbsp; <sup>1</sup> As a percentage of Variable Account value.<br> <sup>2</sup> As a percentage of underlying mutual fund assets. Minimum and maximum expenses <br> include the maximum Low Cost Fund Platform Fee (see *Low Cost Fund Platform Fee* in <br> the statutory prospectus). |
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; Because each contract is customizable, the options elected affect how much each <br> Contract Owner will pay. To help you understand the cost of owning the contract, the <br> following table shows the lowest and highest cost a Contract Owner could pay each year, <br> based on current charges.  | &nbsp;&nbsp; Because each contract is customizable, the options elected affect how much each <br> Contract Owner will pay. To help you understand the cost of owning the contract, the <br> following table shows the lowest and highest cost a Contract Owner could pay each year, <br> based on current charges.  | &nbsp;&nbsp; Because each contract is customizable, the options elected affect how much each <br> Contract Owner will pay. To help you understand the cost of owning the contract, the <br> following table shows the lowest and highest cost a Contract Owner could pay each year, <br> based on current charges.  |
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp; **Lowest Annual Cost Estimate:**<br> **$351.92**<br>| &nbsp;&nbsp; **Highest Annual Cost Estimate:**<br> **$2,471.84** | &nbsp;&nbsp; **Highest Annual Cost Estimate:**<br> **$2,471.84** |
| Ongoing Fees and <br> Expenses (annual <br> charges) | &nbsp;&nbsp;&nbsp; Assumes: <br> ● Investment of $100,000 <br> ● 5% annual appreciation<br> ● Least expensive underlying mutual fund fees <br> and expenses <br> ● No additional purchase payments, transfers or <br> withdrawals<br> ● No investment advisory fees<br>| &nbsp;&nbsp;&nbsp; Assumes: <br> ● Investment of $100,000 <br> ● 5% annual appreciation <br> ● Most expensive underlying mutual <br> fund fees and expenses <br> ● No additional purchase payments, <br> transfers or withdrawals<br> ● No investment advisory fees | &nbsp;&nbsp;&nbsp; Assumes: <br> ● Investment of $100,000 <br> ● 5% annual appreciation <br> ● Most expensive underlying mutual <br> fund fees and expenses <br> ● No additional purchase payments, <br> transfers or withdrawals<br> ● No investment advisory fees |

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| **RISKS** | **RISKS** |
| Risk of Loss | &nbsp;&nbsp; Contract Owners of variable annuities can lose money by investing in the contract, <br> including loss of principal (see *Principal Risks* in the statutory prospectus). <br>|
| Not a Short-Term <br> Investment<br>| &nbsp;&nbsp; The contract is not a short-term investment and is not appropriate for an investor who <br> needs ready access to cash. We have designed the contract to offer features, pricing, and <br> investment options that encourage long-term ownership (see *Principal Risks* in the <br> statutory prospectus). <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> The benefits of tax deferral also means that the contract is more beneficial to investors <br> with a long time horizon (see *Principal Risks* in the statutory prospectus). <br>|
| Risks Associated with <br> Investment Options<br>| &nbsp;&nbsp;&nbsp; ● Investment in this contract is subject to the risk of poor investment performance of the <br> Investment Options chosen by the Contract Owner.<br> ● Each Investment Option has its own unique risks.<br> ● Review the prospectuses and disclosures for the Investment Options before making an <br> investment decision. <br> See *Principal Risks* in the statutory prospectus*.*<br>|

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|:---|:---|
| **RISKS** | **RISKS** |
| Insurance Company Risks | &nbsp;&nbsp; Investment in the contract is subject to the risks associated with Nationwide, including that <br> any obligations, guarantees, or benefits are subject to Our claims-paying ability. More <br> information about Us is available by contacting Us at the address and/or toll-free phone <br> number indicated in *Contacting Us* (see *Principal Risks* in the statutory prospectus). <br>|
| **RESTRICTIONS** | **RESTRICTIONS** |
| Investments | &nbsp;&nbsp;&nbsp; ● We reserve the right to add, remove, and substitute Investment Portfolios available <br> under the Contract (see *The Investment Portfolios* in the statutory prospectus).<br> ● Certain Investment Portfolios have early cut-off times (see *Appendix: More Information* <br> *About the Investment Portfolios*).<br> ● Transfers between Investment Portfolios are subject to policies designed to deter short-<br> term and excessively frequent transfers. Nationwide may restrict the form in which <br> transfer requests will be accepted (see *Excessive Trading Limits* in the statutory <br> prospectus).<br>|
| **TAXES** | **TAXES** |
| Tax Implications | &nbsp;&nbsp;&nbsp; ● Consult with a tax professional to determine the tax implications of an investment in and <br> payments received under this Contract.<br> ● If the Contract is purchased through a tax-qualified plan or IRA, there is no additional tax <br> deferral.<br> ● Earnings in the Contract are taxed at ordinary income tax rates at the time of <br> withdrawals and there may be a tax penalty if withdrawals are taken before the Owner <br> reaches age 59½. <br> See *Taxes* in the statutory prospectus*.*<br>|
| **CONFLICTS OF INTEREST** | **CONFLICTS OF INTEREST** |
| Investment Professional <br> Compensation<br>| &nbsp;&nbsp; Some financial professionals receive compensation for selling the contract. Compensation <br> can take the form of either investment advisory fees paid pursuant to an investment <br> advisory agreement. Alternately, compensation can take the form of commission indirect <br> compensation from revenue that We earn and may share with the financial professional's <br> firm. This conflict of interest may influence a financial professional, as these financial <br> professionals may have a financial incentive to offer or recommend this contract over <br> another investment (see *The Monument Advisor Select*<sup>®</sup> *NY Variable Annuity Contract* in <br> the statutory prospectus).<br>|
| Exchanges | &nbsp;&nbsp; Some financial professionals may have a financial incentive to offer an investor a new <br> contract in place of the one he/she already owns. An investor should only exchange his/her <br> contract if he/she determines, after comparing the features, fees, and risks of both <br> contracts, that it is preferable for him/her to purchase the new contract, rather than to <br> continue to own the existing one (see *The Monument Advisor Select*<sup>®</sup> *NY Variable Annuity* <br> *Contract* in the statutory prospectus).<br>|

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**Overview of the Contract**

**Purpose of the Contract**

The Contract is intended to be a long-term investment vehicle to assist investors in saving for and living in retirement. We have designed the contract to offer features, pricing, and Investment Options that encourage long-term ownership. The Contract can help supplement retirement income through the annuitization feature, which provides a stream of periodic income payments. During the years leading up to those income payments, you manage your assets in the Contract according your specific goals and risk preferences by directing the allocation and reallocation among a variety of Investment Options. Contract growth is tax-deferred, meaning that gains in the contract are not taxable until withdrawn from the Contract. Finally, in the event that you die before beginning income payments, the Contract offers a death benefit.

Before purchasing the Contract you should consult with a financial professional to determine whether this contract is appropriate for you, taking into consideration your particular needs, including investment objectives, risk tolerance, investment time horizon, marital status, tax situation, and other personal characteristics. Generally speaking, this Contract is intended to provide benefits to a single individual and his/her beneficiaries. The Contract is not intended to be used by institutional investors, or in connection with other Nationwide contracts that have the same Annuitant and/or Owner. It is not intended to be sold to a terminally ill Contract Owner.

If the Owner elects to pay the investment advisory fees from the Contract Value, this may reduce the death benefit and other benefits under the contract, may be subject to federal and state income taxes, and may be subject to a 10% federal tax penalty (see *Expenses, Advisor Fee Withdrawals,* and *Taxes* in the statutory prospectus).

**Phases of the Contract**

The contract exists in two separate phases: the Accumulation Period (savings) and the Annuity Period (income). During the Accumulation Period, the Contract offers a variety of Investment Options to which the Owner can allocate and reallocate his/her Contract Value. The Investment Options available under the Contract consist of Sub-accounts that invest in underlying mutual funds, which offer a variable rate of return. **Additional information about the underlying mutual funds is available in *Appendix: More Information About the Investment Portfolios*.**

During the Annuity Period, We make periodic income payments to you. Prior to the Annuity Date, you elect the duration of the Annuity Payments – either for a fixed period of time or for the duration of the Annuitant's (and possibly the joint Annuitant's) life. Annuity Payments will be fixed, meaning that the amount of each Annuity Payment will be the same. After the Annuity Date, the only value associated with the Contract is the stream of Annuity Payments; unless otherwise specified in the Annuity Option, you cannot withdraw value from the Contract over and above the Annuity Payments. Additionally, after the Annuity Date, there is no death benefit, which means that upon your death, all Annuity Payments stop and the Contract terminates, unless the particular Annuity Option provides otherwise.

**Contract Features**

**Investment Options.** Owners can allocate Contract Value to Sub-accounts that invest in underlying mutual funds. Owners can reallocate those assets at their discretion, subject to certain restrictions.

**Deposits to the Contract.** Owners can apply additional Purchase Payments to the Contract until the Annuity Date, subject to certain restrictions.

**Withdrawals from the Contract.** Owners can withdraw some or all of their Contract Value at any time prior to the Annuity Date, subject to certain restrictions. During the Annuity Period, withdrawals other than Annuity Payments are not permitted.

**Death Benefit.** During the Accumulation Period, the Contract contains a standard death benefit (return of Contract Value) at no additional charge.

**Annuity Payments.** On the Annuity Date, We will make Annuity Payments based on the Annuity Option chosen.

**Tax Deferral.** Generally, Owners will not be taxed on any earnings on the assets in the Contract until such earnings are distributed from the Contract. How each contract's distributions are taxed depends on the type of contract issued. Note that if this Contract is issued in connection with a plan that qualifies for special income tax treatment under the Code, the Contract does not provide additional tax deferral benefits (see *Taxes* in the statutory prospectus).

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**Cancellation of the Contract.** Under state insurance laws, Owners have the right, during a limited period of time, to examine their Contract and decide if they want to keep it or cancel it (see *Free Look* and *Contacting Us* in the statutory prospectus).

**Contract Owner Services.** The Contract offers several services at no additional charge to assist Owners in managing their Contract, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rebalancing Program

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Dollar Cost Averaging Program

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Systematic Withdrawal Program

**Benefits Under the Contract**

The following tables summarize information about the benefits under the Contract. The Standard Benefits table indicates the benefits that are available under the Contract and for which there is no additional charge.

**Standard Benefits Table** 

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| **Name of Benefit** | **Purpose** | **Maximum** <br> **Fee**<br>| **Brief Description of Restrictions/Limitations** |
| Standard Death Benefit <br> (see *Death Benefit* in <br> the statutory <br> prospectus)<br>| Death benefit upon <br> death of Owner prior to <br> Annuity Period<br>| None |  |
| Rebalancing Program <br> (see *Rebalancing* <br> *Program* in the statutory <br> prospectus)<br>| Automatic reallocation <br> of assets on a <br> predetermined <br> percentage basis<br>| None |  |
| Dollar Cost Averaging <br> Program (see *Dollar* <br> *Cost Averaging* <br> *Program* in the statutory <br> prospectus)<br>| Long-term transfer <br> program involving <br> automatic transfer of <br> assets<br>| None |  |
| Systematic Withdrawal <br> Program (see <br> *Systematic Withdrawal* <br> *Program* in the statutory <br> prospectus)<br>| Automatic withdrawals <br> of Contract Value on a <br> periodic basis<br>| None |  |

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**Buying the Contract**

**Purchase Payments**

A Purchase Payment is the money you give Us to buy the Contract. You can make Purchase Payments at any time before the Annuity Date. The minimum initial Purchase Payment We will accept is $15,000. We reserve the right to issue a Contract for less than $15,000 with Our approval, subject to the terms and conditions we may require. The maximum We accept is $10,000,000 without Our prior approval and will be subject to such terms and conditions as We may require.

Nationwide reserves the right to refuse any Purchase Payment. Nationwide does not accept Purchase Payments in the form of cash, cash equivalents or checks payable in foreign currency or issued by non-U.S. financial institutions. Purchase Payments made in the form of check, wire or EFT must be drawn upon the account of a U.S. financial institution.

Subject to the maximum described above, you can make additional Purchase Payments of any amount. However, we reserve the right to impose minimums on future Purchase Payments.

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If mandated under applicable law, the Company may be required to reject a Purchase Payment. The Company also may be required to provide additional information about an Owner's account to government regulators. In addition, the Company may be required to block an Owner's account and thereby refuse to pay any request for transfers, full or partial withdrawals (including systematic withdrawals and withdrawals made to pay Advisor Fees), or death benefits until instructions are received from the appropriate regulator.

**Allocation of Purchase Payments**

You control where your Purchase Payments are invested. On the application for a Contract, you may choose to have 100% of your initial Purchase Payment invested in the money market Sub-Accounts. Alternatively, you may use a separate administrative form to select the Sub-Accounts in which to invest your initial Purchase Payment. Any subsequent or additional Purchase Payments will be allocated based on your Investment Allocation of Record. Please make sure your Investment Allocation of Record is kept current. The Company imposes a Low Cost Fund Platform Fee on Contract Value invested in certain Sub-accounts that invest in low cost Investment Portfolios. See *Low Cost Fund Platform Fee* in the statutory prospectus for further details.

Once We receive your Purchase Payment and the necessary information, We will issue your Contract and allocate your first Purchase Payment within 2 Business Days. If you do not provide Us all of the information needed, We will contact you. If for some reason We are unable to complete this process within 5 Business Days, We will either send back your money or get your permission to keep it until We get all of the necessary information. The method of payment (*e.g.*, check, wire transfer, electronic funds transfer) may affect when your Purchase Payment is received by Us. If you add more money to your Contract by making additional Purchase Payments, We will credit these amounts to your Contract as of the Business Day We receive your Purchase Payment. Our Business Day closes at the close of regular trading on the New York Stock Exchange.

**Making Withdrawals: Accessing the Money in Your Contract**

**Access To Your Money**

You can have access to the money in your Contract:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) by making a withdrawal (either a partial or a complete withdrawal);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) by electing to receive Annuity Payments; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) when a death benefit is paid to your Beneficiary.

Withdrawals can only be made during the Accumulation Period.

When you make a complete withdrawal, you will receive the Contract Value on the Business Day We receive the withdrawal request, less any pro rata Subscription Fees.

All partial withdrawals will be withdrawn from the Investment Portfolios on a pro-rata basis unless you instruct Us otherwise.

Nationwide will pay the amount of any withdrawal from the Investment Portfolios within 7 days of your request in good order unless the *Suspension of Payments or Transfers* provision described in in the statutory prospectus is in effect.

A withdrawal may result in tax consequences (including an additional 10% tax penalty under certain circumstances).

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**Additional Information About Fees**

The following tables describe the fees and expenses that an Owner will pay when buying, owning, and surrendering or making withdrawals from the Contract. Please refer to the contract specifications page for information about the specific fees the Owner will pay each year based on the options elected. The fees and expenses do not reflect any investment advisory fees paid to financial professionals from Contract Value or other assets owned by the Owner; of those charges were reflected, the fees and expenses would be higher.

The first table describes the fees and expenses an Owner will pay at the time the Owner buys the Contract, surrenders or makes withdrawals from the Contract, or transfers Contract Value between Investment Portfolios. State premium taxes may also be deducted.

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| **Transaction Expenses** |
| **Maximum Transfer Fee**<sup>1</sup><br>$25<sup>2</sup> <br>|

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The next table describes the fees and expenses that an Owner will pay each year during the time that the Owner owns the Contract (not including underlying mutual fund fees and expenses).

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| **Annual Contract Expenses** |
| **Subscription Fee** (assessed via monthly deductions)<br>$240<sup>3</sup> <br>|

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<sup>1</sup>

All transfers made on the same day involving the same Sub-account count as one transfer. Certain restrictions apply (see *Excessive Trading Limits*).

<sup>2</sup>

Currently, We do not assess a Transfer Fee.

<sup>3</sup>

The annual Subscription Fee is assessed via a monthly deduction of $20 per month.

The next item shows the minimum and maximum total operating expenses charged by the underlying mutual funds that the Owner may pay periodically during the life of the Contract. These amounts also include the maximum applicable Low Cost Fund Platform Fees if you choose to invest in certain Investment Portfolios (see *Low Cost Fund Platform Fee*). A complete list of the underlying mutual funds available under the Contract, including their annual expenses, may be found in *Appendix A: More Information About the Investment Portfolios*.

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|:---|:---|:---|
| **Annual Underlying Mutual Fund Expenses** | **Annual Underlying Mutual Fund Expenses** | **Annual Underlying Mutual Fund Expenses** |
|  | **Minimum** | **Maximum** |
| (Expenses that are deducted from underlying mutual fund assets, including Low Cost <br> Fund Platform Fees and management fees, distribution and/or service (12b-1) fees, and <br> other expenses, as a percentage of average underlying mutual fund net assets.)<br>| 0.16% | 2.58% |

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**Example**

The fees and expenses do not reflect any investment advisory fees paid to financial professionals from Contract Value or other assets owned by the Owner; if those charges were reflected, the fees and expenses would be higher.

The Example assumes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a $100,000 investment in the contract for the time periods indicated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• a 5% return each year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the maximum and the minimum annual underlying mutual fund expenses.

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|  | **If the Contract is surrendered**<br> **at the end of the applicable**<br> **time period** | **If the Contract is surrendered**<br> **at the end of the applicable**<br> **time period** | **If the Contract is surrendered**<br> **at the end of the applicable**<br> **time period** | **If the Contract is surrendered**<br> **at the end of the applicable**<br> **time period** | **If the Contract is annuitized**<br> **at the end of the applicable**<br> **time period** | **If the Contract is annuitized**<br> **at the end of the applicable**<br> **time period** | **If the Contract is annuitized**<br> **at the end of the applicable**<br> **time period** | **If the Contract is not**<br> **surrendered** | **If the Contract is not**<br> **surrendered** | **If the Contract is not**<br> **surrendered** | **If the Contract is not**<br> **surrendered** |
|  | **1 Yr.** | **3 Yrs.** | **5 Yrs.** | **10 Yrs.** | **3 Yrs.** | **5 Yrs.** | **10 Yrs.** | **1 Yr.** | **3 Yrs.** | **5 Yrs.** | **10 Yrs.** |
| &nbsp;&nbsp;&nbsp; Maximum Annual<br> Underlying Mutual <br> Fund<br> Expenses<br> (2.58%)<br>| &nbsp;&nbsp; $2961<br>| &nbsp;&nbsp; $9065<br>| &nbsp;&nbsp; $15421<br>| &nbsp;&nbsp; $32480<br>&nbsp;&nbsp; \*<br>| &nbsp;&nbsp; $9065<br>| &nbsp;&nbsp; $15421<br>| &nbsp;&nbsp; $32480<br>| &nbsp;&nbsp; $2961<br>| &nbsp;&nbsp; $9065<br>| &nbsp;&nbsp; $15421<br>| &nbsp;&nbsp; $32480<br>|
| &nbsp;&nbsp;&nbsp; Minimum Annual<br> Underlying Mutual <br> Fund<br> Expenses <br> (0.16%)<br>| &nbsp;&nbsp; $420<br>| &nbsp;&nbsp; $1319<br>| &nbsp;&nbsp; $2301<br>| &nbsp;&nbsp; $5180<br>&nbsp;&nbsp; \*<br>| &nbsp;&nbsp; $1319<br>| &nbsp;&nbsp; $2301<br>| &nbsp;&nbsp; $5180<br>| &nbsp;&nbsp; $420<br>| &nbsp;&nbsp; $1319<br>| &nbsp;&nbsp; $2301<br>| &nbsp;&nbsp; $5180 |

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**Appendix: More Information About the Investment Portfolios**

The following is a list of the Investment Portfolios that are available under the Contract. More information about the Investment Portfolios is available in the prospectuses for the Investment Portfolios, which may be amended from time to time and can be found online at https://nationwide.onlineprospectus.net/NW/C000220424NW/index.php. This information can also be obtained at no cost by calling 1-866-667-0561 or by sending an email request to NAS_Service@nationwide.com.

The current expenses and performance information below reflects fees and expenses of the Investment Portfolios, but do not reflect the other fees and expenses that the Contract may charge, such as any Low Cost Fund Platform Fee. Expenses would be higher and performance would be lower if these other charges were included. Each Investment Portfolio's past performance is not necessarily an indication of future performance.

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Commodities | **Advisors Preferred Trust - Gold Bullion** <br> **Strategy Portfolio**<br> Investment Advisor: Advisors Preferred, LLC<br> Sub-Advisor: Flexible Plan Investments, Ltd.<br>| 1.64% | 0.00% | **1.64%** | 24.34% | 8.00% | 5.62% |
| Equity | **Alger Capital Appreciation Portfolio:** <br> **Class I-2 Shares**<br> Investment Advisor: Fred Alger Management, <br> LLC<br>| 0.93% | 0.00% | **0.93%** | 48.13% | 17.84% | 15.55% |
| Equity | **Alger Large Cap Growth Portfolio: Class** <br> **I-2 Shares**<br> Investment Advisor: Fred Alger Management, <br> LLC<br>| 0.84%\* | 0.00% | **0.84%** | 42.89% | 16.79% | 13.87% |
| Equity | **Alger Mid Cap Growth Portfolio: Class I-2** <br> **Shares**<br> Investment Advisor: Fred Alger Management, <br> LLC<br>| 0.94%\* | 0.00% | **0.94%** | 21.07% | 10.34% | 9.78% |
| Equity | **AllianceBernstein Variable Products** <br> **Series Fund, Inc. - AB VPS Discovery** <br> **Value Portfolio: Class B**<br> Investment Advisor: AllianceBernstein L.P.<br>| 1.06% | 0.00% | **1.06%** | 9.72% | 8.57% | 7.36% |
| Equity | **AllianceBernstein Variable Products** <br> **Series Fund, Inc. - AB VPS Relative Value** <br> **Portfolio: Class A**<br> Investment Advisor: AllianceBernstein L.P.<br>| 0.61% | 0.00% | **0.61%** | 13.02% | 9.81% | 9.66% |
| Equity | **AllianceBernstein Variable Products** <br> **Series Fund, Inc. - AB VPS Sustainable** <br> **Global Thematic Portfolio: Class B**<br> Investment Advisor: AllianceBernstein L.P.<br>| 1.16%\* | 0.00% | **1.16%** | 5.96% | 8.77% | 9.45% |
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Aggressive Growth ETF** <br> **Asset Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.89% | 0.00% | **0.89%** | 14.58% | 8.63% | 8.05% |
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Balanced ETF Asset** <br> **Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.86% | 0.00% | **0.86%** | 10.17% | 5.53% | 5.54% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Conservative ETF Asset** <br> **Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.84%\* | 0.00% | **0.84%** | 5.29% | 1.75% | 2.50% |
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Growth ETF Asset Allocation** <br> **Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.87% | 0.00% | **0.87%** | 12.67% | 7.32% | 7.00% |
| Allocation | **ALPS Variable Investment Trust -** <br> **Morningstar Income & Growth ETF Asset** <br> **Allocation Portfolio: Class II**<br> Investment Advisor: ALPS Advisors, Inc.<br> Sub-Advisor: Morningstar Investment <br> Management LLC<br>| 0.85%\* | 0.00% | **0.85%** | 7.97% | 3.81% | 4.13% |
| Fixed Income | **American Funds Insurance Series® -** <br> **American Funds Mortgage Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.82%\* | 0.00% | **0.82%** | 0.35% | -0.30% | 0.78% |
| Fixed Income | **American Funds Insurance Series® -** <br> **American High-Income Trust: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.82%\* | 0.00% | **0.82%** | 9.39% | 5.29% | 5.06% |
| Allocation | **American Funds Insurance Series® -** <br> **Asset Allocation Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.80% | 0.00% | **0.80%** | 16.11% | 8.04% | 8.05% |
| Allocation | **American Funds Insurance Series® -** <br> **Capital Income Builder®: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.78%\* | 0.00% | **0.78%** | 9.93% | 5.75% | 5.17% |
| Fixed Income | **American Funds Insurance Series® -** <br> **Capital World Bond Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.98% | 0.00% | **0.98%** | -3.32% | -2.65% | -0.33% |
| Equity | **American Funds Insurance Series® -** <br> **Capital World Growth & Income Fund:** <br> **Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.91%\* | 0.00% | **0.91%** | 13.70% | 7.04% | 8.17% |
| Equity | **American Funds Insurance Series® -** <br> **Global Growth Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.91%\* | 0.00% | **0.91%** | 13.39% | 9.49% | 10.46% |
| Equity | **American Funds Insurance Series® -** <br> **Global Small Capitalization Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 1.16%\* | 0.00% | **1.16%** | 2.12% | 2.74% | 5.54% |
| Equity | **American Funds Insurance Series® -** <br> **Growth Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.84% | 0.00% | **0.84%** | 31.30% | 18.53% | 16.29% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **American Funds Insurance Series® -** <br> **Growth-Income Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.78% | 0.00% | **0.78%** | 23.92% | 12.73% | 11.93% |
| Equity | **American Funds Insurance Series® -** <br> **International Growth & Income Fund:** <br> **Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 1.06% | 0.00% | **1.06%** | 3.11% | 2.28% | 3.73% |
| Allocation | **American Funds Insurance Series® -** <br> **Managed Risk Asset Allocation Fund:** <br> **Class P2**<br> Investment Advisor: Capital Research and <br> Management Company<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.90%\* | 0.00% | **0.90%** | 14.63% | 5.30% | 5.88% |
| Allocation | **American Funds Insurance Series® -** <br> **Managed Risk Washington Mutual** <br> **Investors Fund: Class P2**<br> Investment Advisor: Capital Research and <br> Management Company<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.89%\* | 0.00% | **0.89%** | 13.99% | 5.61% | 5.28% |
| Equity | **American Funds Insurance Series® - New** <br> **World Fund®: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 1.07%\* | 0.00% | **1.07%** | 6.33% | 4.29% | 5.96% |
| Fixed Income | **American Funds Insurance Series® - The** <br> **Bond Fund of America: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.73%\* | 0.00% | **0.73%** | 0.98% | 0.07% | 1.42% |
| Fixed Income | **American Funds Insurance Series® - U.S.** <br> **Government Securities Fund: Class 4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.76%\* | 0.00% | **0.76%** | 0.44% | -0.13% | 0.84% |
| Equity | **American Funds Insurance Series® -** <br> **Washington Mutual Investors Fund: Class** <br> **4**<br> Investment Advisor: Capital Research and <br> Management Company<br>| 0.77%\* | 0.00% | **0.77%** | 18.85% | 11.92% | 9.99% |
| Fixed Income | **BlackRock Variable Series Funds II, Inc. -** <br> **BlackRock High Yield V.I. Fund: Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br> Sub-Advisor: BlackRock International <br> Limited<br>| 0.78%\* | 0.00% | **0.78%** | 7.85% | 4.18% | 4.75% |
| Fixed Income | **BlackRock Variable Series Funds II, Inc. -** <br> **BlackRock Total Return V.I. Fund: Class** <br> **III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br> Sub-Advisor: BlackRock International <br> Limited and BlackRock (Singapore) Limited<br>| 0.77%\* | 0.00% | **0.77%** | 1.14% | -0.50% | 1.11% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Advantage Large Cap Core** <br> **V.I. Fund: Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br>| 0.94%\* | 0.00% | **0.94%** | 25.11% | 13.81% | 12.07% |
| Equity | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Advantage Large Cap Value** <br> **V.I. Fund: Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br>| 0.85%\* | 0.00% | **0.85%** | 16.13% | 9.50% | 8.80% |
| Equity | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Equity Dividend V.I. Fund:** <br> **Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br>| 0.92%\* | 0.00% | **0.92%** | 9.71% | 7.98% | 8.79% |
| Allocation | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Global Allocation V.I. Fund:** <br> **Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br> Sub-Advisor: BlackRock International <br> Limited and BlackRock (Singapore) Limited<br>| 1.02%\* | 0.00% | **1.02%** | 8.93% | 5.72% | 5.32% |
| Equity | **BlackRock Variable Series Funds, Inc. -** <br> **BlackRock Large Cap Focus Growth V.I.** <br> **Fund: Class III**<br> Investment Advisor: BlackRock Advisors, <br> LLC<br>| 1.04%\* | 0.00% | **1.04%** | 31.39% | 15.88% | 15.01% |
| Equity | **BNY Mellon Investment Portfolios - Small** <br> **Cap Stock Index Portfolio: Service Shares**<br> Investment Advisor: BNY Mellon Investment <br> Adviser, Inc.<br>| 0.60%\* | 0.00% | **0.60%** | 7.96% | 7.70% | 8.33% |
| Equity | **BNY Mellon Stock Index Fund, Inc.: Initial** <br> **Shares**<br> Investment Advisor: BNY Mellon Investment <br> Adviser, Inc.<br> Sub-Advisor: Mellon Investments <br> Corporation<br>| 0.27% | 0.25% | **0.52%** | 24.66% | 14.21% | 12.81% |
| Equity | **BNY Mellon Sustainable U.S. Equity** <br> **Portfolio, Inc.: Initial Shares**<br> Investment Advisor: BNY Mellon Investment <br> Adviser, Inc.<br> Sub-Advisor: Newton Investment <br> Management Limited<br>| 0.67% | 0.00% | **0.67%** | 24.89% | 13.46% | 11.52% |
| Allocation | **Calvert Variable Series, Inc. - Calvert VP** <br> **SRI Balanced Portfolio: Class F**<br> Investment Advisor: Calvert Research and <br> Management<br>| 0.89% | 0.00% | **0.89%** | 18.91% | 9.03% | 8.06% |
| Equity | **Calvert Variable Trust, Inc. - CVT Nasdaq** <br> **100 Index Portfolio: Class F**<br> Investment Advisor: Calvert Research and <br> Management<br> Sub-Advisor: Ameritas Investment Partners, <br> Inc.<br>| 0.73%\* | 0.00% | **0.73%** | 24.89% | 19.32% | 17.64% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Columbia Funds Variable Insurance Trust** <br> **- Columbia Variable Portfolio - Strategic** <br> **Income Fund: Class 2**<br> Investment Advisor: Columbia Management <br> Investment Advisors, LLC<br>| 0.94%\* | 0.00% | **0.94%** | 4.51% | 1.82% | 3.10% |
| Equity | **Columbia Funds Variable Insurance Trust** <br> **II - Columbia Variable Portfolio - Seligman** <br> **Global Technology: Class 2**<br> Investment Advisor: Columbia Management <br> Investment Advisors, LLC<br>| 1.20%\* | 0.00% | **1.20%** | 26.58% | 20.37% | 20.25% |
| Equity | **Columbia Funds Variable Series Trust II -** <br> **Columbia Variable Portfolio - Select Large** <br> **Cap Value Fund: Class 1**<br> Investment Advisor: Columbia Management <br> Investment Advisors, LLC<br>| 0.70% | 0.00% | **0.70%** | 12.86% | 9.57% | 9.26% |
| Equity | **Columbia Funds Variable Series Trust II -** <br> **Columbia Variable Portfolio - Select Small** <br> **Cap Value Fund: Class 1**<br> Investment Advisor: Columbia Management <br> Investment Advisors, LLC<br>| 0.85%\* | 0.00% | **0.85%** | 13.97% | 9.47% | 7.21% |
| Commodities | **Credit Suisse Trust - Commodity Return** <br> **Strategy Portfolio: Class 1**<br> Investment Advisor: UBS Asset Management <br> (Americas) LLC<br>| 1.05%\* | 0.00% | **1.05%** | 4.83% | 6.85% | 1.12% |
| Equity | **Delaware VIP Trust - Macquarie VIP Small** <br> **Cap Value Series: Service Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust (a Delaware <br> statutory trust)<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.04% | 0.00% | **1.04%** | 11.02% | 6.83% | 7.30% |
| Equity | **DFA Investment Dimensions Group Inc. -** <br> **Dimensional VA Equity Allocation** <br> **Portfolio: Institutional Class (formerly,** <br> **DFA Investment Dimensions Group Inc. -** <br> **VA Equity Allocation Portfolio:** <br> **Institutional Class)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.31%\* | 0.25% | **0.56%** | 15.10% | 10.74% |  |
| Fixed Income | **DFA Investment Dimensions Group Inc. -** <br> **Dimensional VA Global Bond Portfolio** <br> **(formerly, DFA Investment Dimensions** <br> **Group Inc. - VA Global Bond Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.21% | 0.25% | **0.46%** | 5.38% | 0.81% | 1.53% |
| Allocation | **DFA Investment Dimensions Group Inc. -** <br> **Dimensional VA Global Moderate** <br> **Allocation Portfolio: Institutional Class** <br> **(formerly, DFA Investment Dimensions** <br> **Group Inc. - VA Global Moderate** <br> **Allocation Portfolio: Institutional Class)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br>| 0.28%\* | 0.25% | **0.53%** | 11.99% | 7.77% | 6.95% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **DFA Investment Dimensions Group Inc. -** <br> **Dimensional VA International Small** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA International** <br> **Small Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.39% | 0.25% | **0.64%** | 3.82% | 4.11% | 5.91% |
| Equity | **DFA Investment Dimensions Group Inc. -** <br> **Dimensional VA International Value** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA International** <br> **Value Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.28% | 0.25% | **0.53%** | 6.62% | 7.08% | 5.62% |
| Fixed Income | **DFA Investment Dimensions Group Inc. -** <br> **Dimensional VA Short-Term Fixed** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA Short-Term** <br> **Fixed Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br> Sub-Advisor: Dimensional Fund Advisors <br> Ltd. And DFA Australia Limited<br>| 0.12% | 0.25% | **0.37%** | 5.48% | 1.91% | 1.57% |
| Equity | **DFA Investment Dimensions Group Inc. -** <br> **Dimensional VA U.S. Large Value** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA U.S. Large** <br> **Value Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br>| 0.21% | 0.25% | **0.46%** | 13.38% | 8.43% | 8.52% |
| Equity | **DFA Investment Dimensions Group Inc. -** <br> **Dimensional VA U.S. Targeted Value** <br> **Portfolio (formerly, DFA Investment** <br> **Dimensions Group Inc. - VA U.S. Targeted** <br> **Value Portfolio)**<br> Investment Advisor: Dimensional Fund <br> Advisors LP<br>| 0.28% | 0.25% | **0.53%** | 8.14% | 12.55% | 9.46% |
| Fixed Income | **Federated Hermes Insurance Series -** <br> **Federated Hermes High Income Bond** <br> **Fund II: Primary Shares**<br> Investment Advisor: Federated Investment <br> Management Company<br>| 0.83%\* | 0.00% | **0.83%** | 6.27% | 3.19% | 4.48% |
| Allocation | **Federated Hermes Insurance Series -** <br> **Federated Hermes Managed Volatility** <br> **Fund II: Primary Shares**<br> Investment Advisor: Federated Equity <br> Management Company of Pennsylvania<br> Sub-Advisor: Federated Investment <br> Management Company, Federated Advisory <br> Services Company, Fed Global<br>| 1.00%\* | 0.00% | **1.00%** | 15.56% | 5.32% | 5.30% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Fidelity Variable Insurance Products -** <br> **Emerging Markets Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR UK, FMR HK, FMR <br> Japan, FIA, and FIA(UK)<br>| 1.13% | 0.00% | **1.13%** | 9.71% | 4.09% | 5.78% |
| Allocation | **Fidelity Variable Insurance Products** <br> **Fund - VIP Balanced Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.67% | 0.00% | **0.67%** | 15.58% | 10.57% | 9.35% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Contrafund® Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.81% | 0.00% | **0.81%** | 33.45% | 16.74% | 13.33% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Disciplined Small Cap** <br> **Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br>| 0.57% | 0.00% | **0.57%** | 16.57% | 10.28% | 8.35% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Energy Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.85% | 0.00% | **0.85%** | 4.02% | 12.13% | 4.19% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Equity-Income Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.72% | 0.00% | **0.72%** | 15.06% | 9.80% | 8.94% |
| Fixed Income | **Fidelity Variable Insurance Products** <br> **Fund - VIP Floating Rate High Income** <br> **Portfolio: Initial Class**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.73% | 0.00% | **0.73%** | 8.39% | 5.55% | 4.88% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Allocation | **Fidelity Variable Insurance Products** <br> **Fund - VIP Freedom Income Fund** <br> **Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br>| 0.62% | 0.00% | **0.62%** | 4.20% | 2.26% | 3.19% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Growth & Income Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.74% | 0.00% | **0.74%** | 21.91% | 13.10% | 11.11% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Growth Opportunities** <br> **Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.82% | 0.00% | **0.82%** | 38.56% | 18.46% | 17.93% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Growth Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.81% | 0.00% | **0.81%** | 30.07% | 18.63% | 16.34% |
| Fixed Income | **Fidelity Variable Insurance Products** <br> **Fund - VIP High Income Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 1.06%\* | 0.00% | **1.06%** | 8.62% | 2.47% | 3.90% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP International Capital** <br> **Appreciation Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FIL Investment Advisors, FIL <br> Investment Advisors (UK) Limited, FMR <br> Investment Management (UK) Limited, <br> Fidelity Management & Research (Hong <br> Kong) Limited, Fidelity Management & <br> Research (Japan) Limited<br>| 1.03% | 0.00% | **1.03%** | 7.92% | 6.61% | 8.01% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Fidelity Variable Insurance Products** <br> **Fund - VIP Investment Grade Bond** <br> **Portfolio: Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.63% | 0.00% | **0.63%** | 1.50% | 0.20% | 1.68% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Mid Cap Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.82% | 0.00% | **0.82%** | 17.18% | 11.06% | 8.94% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Overseas Portfolio: Service** <br> **Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FIL Investment Advisors, FIL <br> Investment Advisors (UK) Limited, FMR <br> Investment Management (UK) Limited, <br> Fidelity Management & Research (Hong <br> Kong) Limited, Fidelity Management & <br> Research (Japan) Limited<br>| 0.98% | 0.00% | **0.98%** | 4.81% | 5.50% | 6.06% |
| Fixed Income | **Fidelity Variable Insurance Products** <br> **Fund - VIP Strategic Income Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FIL Investment Advisors, FIL <br> Investment Advisors (UK) Limited, FMR <br> Investment Management (UK) Limited, <br> Fidelity Management & Research (Hong <br> Kong) Limited, Fidelity Management & <br> Research (Japan) Limited<br>| 0.89% | 0.00% | **0.89%** | 5.78% | 2.54% | 3.34% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Value Portfolio: Service Class** <br> **2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.85% | 0.00% | **0.85%** | 11.08% | 11.80% | 9.71% |
| Equity | **Fidelity Variable Insurance Products** <br> **Fund - VIP Value Strategies Portfolio:** <br> **Service Class 2**<br> Investment Advisor: Fidelity Management & <br> Research Company LLC (FMR)<br> Sub-Advisor: FMR Investment Management <br> (UK) Limited, Fidelity Management & <br> Research (Hong Kong) Limited, Fidelity <br> Management & Research (Japan) Limited<br>| 0.84% | 0.00% | **0.84%** | 9.16% | 11.93% | 9.37% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **First Eagle Variable Funds - Overseas** <br> **Variable Fund**<br> Investment Advisor: First Eagle Investment <br> Management, LLC<br>| 1.21%\* | 0.00% | **1.21%** | 6.10% | 3.66% | 4.43% |
| Equity | **Franklin Templeton Variable Insurance** <br> **Products Trust - Franklin Global Real** <br> **Estate VIP Fund: Class 2**<br> Investment Advisor: Franklin Advisers, Inc.<br>| 1.25%\* | 0.00% | **1.25%** | -0.32% | -0.30% | 2.30% |
| Equity | **Franklin Templeton Variable Insurance** <br> **Products Trust - Franklin Rising** <br> **Dividends VIP Fund: Class 2**<br> Investment Advisor: Franklin Advisers, Inc.<br>| 0.88%\* | 0.00% | **0.88%** | 10.79% | 10.30% | 10.44% |
| Fixed Income | **Franklin Templeton Variable Insurance** <br> **Products Trust - Franklin U.S.** <br> **Government Securities VIP Fund: Class 2**<br> Investment Advisor: Franklin Advisers, Inc.<br>| 0.78% | 0.00% | **0.78%** | 1.37% | -0.52% | 0.53% |
| Fixed Income | **Guggenheim Variable Funds Trust -** <br> **Series E (Total Return Bond Series)**<br> Investment Advisor: Guggenheim <br> Investments<br>| 0.92%\* | 0.00% | **0.92%** | 3.09% | 1.01% | 2.51% |
| Fixed Income | **Guggenheim Variable Funds Trust -** <br> **Series F (Floating Rate Strategies Series)**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.19%\* | 0.00% | **1.19%** | 6.83% | 3.83% | 3.84% |
| Allocation | **Invesco - Invesco V.I. Balanced-Risk** <br> **Allocation Fund: Series II Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 1.13%\* | 0.00% | **1.13%** | 3.56% | 2.51% | 3.57% |
| Equity | **Invesco - Invesco V.I. Comstock Fund:** <br> **Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.76% | 0.00% | **0.76%** | 15.18% | 11.59% | 9.49% |
| Fixed Income | **Invesco - Invesco V.I. Core Plus Bond** <br> **Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.62%\* | 0.00% | **0.62%** | 3.06% | 0.38% | 2.25% |
| Equity | **Invesco - Invesco V.I. Diversified** <br> **Dividend Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.68% | 0.00% | **0.68%** | 13.22% | 7.64% | 7.83% |
| Allocation | **Invesco - Invesco V.I. Equity and Income** <br> **Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.57% | 0.00% | **0.57%** | 12.12% | 8.38% | 7.36% |
| Fixed Income | **Invesco - Invesco V.I. Global Strategic** <br> **Income Fund: Series II**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 1.18%\* | 0.00% | **1.18%** | 2.79% | -0.43% | 1.28% |
| Money Market | **Invesco - Invesco V.I. Government Money** <br> **Market Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.36% | 0.00% | **0.36%** | 4.98% | 2.30% | 1.56% |
| Fixed Income | **Invesco - Invesco V.I. Government** <br> **Securities Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.70% | 0.00% | **0.70%** | 1.72% | -0.17% | 0.91% |
| Equity | **Invesco - Invesco V.I. Growth and Income** <br> **Fund: Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.75% | 0.00% | **0.75%** | 16.00% | 10.07% | 8.80% |
| Equity | **Invesco - Invesco V.I. Health Care Fund:** <br> **Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.99% | 0.00% | **0.99%** | 4.17% | 3.64% | 5.40% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Invesco - Invesco V.I. High Yield Fund:** <br> **Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br> Sub-Advisor: Invesco Canada Ltd.<br>| 0.89% | 0.00% | **0.89%** | 7.73% | 2.97% | 3.81% |
| Equity | **Invesco - Invesco V.I. Technology Fund:** <br> **Series I Shares**<br> Investment Advisor: Invesco Advisers, Inc.<br>| 0.97% | 0.00% | **0.97%** | 34.27% | 14.65% | 14.40% |
| Allocation | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Asset Strategy Series:** <br> **Service Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management Europe <br> Limited, Macquarie Investment Management <br> Global Limited<br>| 0.85%\* | 0.00% | **0.85%** | 12.44% | 6.56% | 5.27% |
| Allocation | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Balanced Series: Service** <br> **Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management Europe <br> Limited, Macquarie Investment Management <br> Global Limited<br>| 1.03%\* | 0.00% | **1.03%** | 15.60% | 8.30% | 7.14% |
| Fixed Income | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Corporate Bond Series:** <br> **Service Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management Europe <br> Limited, Macquarie Investment Management <br> Global Limited<br>| 0.78% | 0.00% | **0.78%** | 2.45% | 0.34% | 1.96% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Energy Series: Service** <br> **Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.11%\* | 0.00% | **1.11%** | -5.60% | 5.79% | -1.89% |
| Fixed Income | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP High Income Series:** <br> **Service Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management Europe <br> Limited, Macquarie Investment Management <br> Global Limited<br>| 0.97% | 0.00% | **0.97%** | 6.19% | 3.51% | 4.13% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Limited-Term Bond Series:** <br> **Service Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Austria Kapitalanlage AG, <br> Macquarie Investment Management Europe <br> Limited, Macquarie Investment Management <br> Global Limited<br>| 0.79%\* | 0.00% | **0.79%** | 4.33% | 1.64% | 1.74% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Mid Cap Growth Series:** <br> **Service Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.10%\* | 0.00% | **1.10%** | 2.20% | 7.96% | 9.88% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Natural Resources Series:** <br> **Service Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.25%\* | 0.00% | **1.25%** | -0.58% | 5.81% | 0.98% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Science and Technology** <br> **Series: Service Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 1.16% | 0.00% | **1.16%** | 30.59% | 14.05% | 13.54% |
| Equity | **Ivy Variable Insurance Portfolios -** <br> **Macquarie VIP Value Series: Service** <br> **Class**<br> Investment Advisor: Delaware Management <br> Company, a series of Macquarie Investment <br> Management Business Trust<br> Sub-Advisor: Macquarie Investment <br> Management Global Limited<br>| 0.98%\* | 0.00% | **0.98%** | 6.47% | 7.96% | 7.52% |
| Allocation | **Janus Aspen Series - Janus Henderson** <br> **Balanced Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.62% | 0.00% | **0.62%** | 15.43% | 8.33% | 8.66% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Enterprise Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.72% | 0.00% | **0.72%** | 15.61% | 9.88% | 12.40% |
| Fixed Income | **Janus Aspen Series - Janus Henderson** <br> **Flexible Bond Portfolio: Service Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.82%\* | 0.00% | **0.82%** | 1.63% | 0.09% | 1.35% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Forty Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.58% | 0.00% | **0.58%** | 28.47% | 15.40% | 15.65% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Global Research Portfolio: Institutional** <br> **Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.72% | 0.00% | **0.72%** | 23.58% | 12.35% | 10.55% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Global Sustainable Equity Portfolio:** <br> **Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.74%\* | 0.00% | **0.74%** | 11.06% |  |  |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Mid Cap Value Portfolio: Institutional** <br> **Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.93% | 0.00% | **0.93%** | 13.11% | 7.14% | 7.60% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Overseas Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.88% | 0.00% | **0.88%** | 5.84% | 7.21% | 5.55% |
| Equity | **Janus Aspen Series - Janus Henderson** <br> **Research Portfolio: Institutional Shares**<br> Investment Advisor: Janus Henderson <br> Investors US LLC<br>| 0.67% | 0.00% | **0.67%** | 35.31% | 16.79% | 14.53% |
| Equity | **John Hancock Variable Insurance Trust -** <br> **Disciplined Value Emerging Markets** <br> **Equity Trust: Series NAV**<br> Investment Advisor: John Hancock Variable <br> Trust Advisers LLC<br> Sub-Advisor: Boston Partners Global <br> Investors, Inc.<br>| 0.96%\* | 0.10% | **1.06%** | -2.44% | 2.75% | 3.38% |
| Allocation | **Lazard Retirement Series, Inc. - Lazard** <br> **Retirement Global Dynamic Multi-Asset** <br> **Portfolio: Service Shares**<br> Investment Advisor: Lazard Asset <br> Management LLC<br>| 1.05%\* | 0.00% | **1.05%** | 8.60% | 2.33% | 4.35% |
| Equity | **Lazard Retirement Series, Inc. - Lazard** <br> **Retirement US Small Cap Equity Select** <br> **Portfolio: Service Shares**<br> Investment Advisor: Lazard Asset <br> Management LLC<br>| 1.12%\* | 0.00% | **1.12%** | 11.12% | 5.74% | 6.73% |
| Equity | **Legg Mason Partners Variable Equity** <br> **Trust - ClearBridge Variable Dividend** <br> **Strategy Portfolio: Class I**<br> Investment Advisor: Franklin Templeton Fund <br> Adviser, LLC<br> Sub-Advisor: ClearBridge Investments, LLC<br>| 0.75% | 0.00% | **0.75%** | 16.85% | 10.85% | 10.64% |
| Equity | **Legg Mason Partners Variable Equity** <br> **Trust - ClearBridge Variable Large Cap** <br> **Growth Portfolio: Class I**<br> Investment Advisor: Franklin Templeton Fund <br> Adviser, LLC<br> Sub-Advisor: ClearBridge Investments, LLC<br>| 0.74% | 0.00% | **0.74%** | 27.89% | 14.75% | 14.58% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Legg Mason Partners Variable Equity** <br> **Trust - ClearBridge Variable Small Cap** <br> **Growth Portfolio: Class II**<br> Investment Advisor: Franklin Templeton Fund <br> Adviser, LLC<br> Sub-Advisor: ClearBridge Investments, LLC<br>| 1.05% | 0.00% | **1.05%** | 4.23% | 5.13% | 7.66% |
| Fixed Income | **Lord Abbett Series Fund, Inc. - Bond** <br> **Debenture Portfolio: Class VC**<br> Investment Advisor: Lord, Abbett & Co. LLC<br>| 0.99% | 0.00% | **0.99%** | 6.72% | 1.90% | 3.73% |
| Equity | **Lord Abbett Series Fund, Inc. - Dividend** <br> **Growth Portfolio: Class VC**<br> Investment Advisor: Lord, Abbett & Co. LLC<br>| 0.99% | 0.00% | **0.99%** | 22.14% | 12.23% | 11.16% |
| Equity | **Lord Abbett Series Fund, Inc. - Growth** <br> **and Income Portfolio: Class VC**<br> Investment Advisor: Lord, Abbett & Co. LLC<br>| 0.93% | 0.00% | **0.93%** | 20.60% | 10.37% | 9.05% |
| Equity | **MFS® Variable Insurance Trust - MFS** <br> **Growth Series: Service Class**<br> Investment Advisor: Massachusetts Financial <br> Services Company<br>| 0.97%\* | 0.00% | **0.97%** | 31.15% | 14.46% | 14.82% |
| Equity | **MFS® Variable Insurance Trust - MFS** <br> **New Discovery Series: Service Class**<br> Investment Advisor: Massachusetts Financial <br> Services Company<br>| 1.12%\* | 0.00% | **1.12%** | 6.44% | 4.71% | 8.92% |
| Equity | **MFS® Variable Insurance Trust - MFS** <br> **Value Series: Service Class**<br> Investment Advisor: Massachusetts Financial <br> Services Company<br>| 0.94%\* | 0.00% | **0.94%** | 11.35% | 7.76% | 8.36% |
| Equity | **MFS® Variable Insurance Trust II - MFS** <br> **International Growth Portfolio: Service** <br> **Class**<br> Investment Advisor: Massachusetts Financial <br> Services Company<br>| 1.13%\* | 0.00% | **1.13%** | 8.76% | 5.84% | 7.56% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Allspring Discovery Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Allspring Global Investments, <br> LLC<br>| 1.08%\* | 0.00% | **1.08%** | 18.08% | 6.18% | 8.75% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Amundi Multi Sector Bond Fund:** <br> **Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Amundi Asset Management, <br> US<br>| 0.81% | 0.00% | **0.81%** | 10.34% | 5.12% | 4.38% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT AQR Large Cap Defensive Style** <br> **Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: AQR Capital Management, LLC<br>| 0.78% | 0.00% | **0.78%** | 13.66% | 8.67% | 10.26% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Allocation | **Nationwide Variable Insurance Trust -** <br> **NVIT Blueprint® Managed Growth &** <br> **Income Fund: Class I (formerly,** <br> **Nationwide Variable Insurance Trust -** <br> **NVIT Blueprint(SM) Managed Growth &** <br> **Income Fund: Class I)**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Nationwide Asset <br> Management, LLC<br>| 0.80%\* | 0.00% | **0.80%** | 8.90% | 4.24% | 4.32% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT BNY Mellon Dynamic U.S. Core** <br> **Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Newton Investment <br> Management Limited<br>| 0.62%\* | 0.00% | **0.62%** | 22.80% | 12.91% | 13.21% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT BNY Mellon Dynamic U.S. Equity** <br> **Income: Class X**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Newton Investment <br> Management Limited<br>| 0.63%\* | 0.00% | **0.63%** | 15.49% | 11.25% | 9.40% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Bond Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.23% | 0.00% | **0.23%** | 1.14% | -0.54% | 1.13% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT DoubleLine Total Return Tactical** <br> **Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: DoubleLine Capital LP<br>| 0.60%\* | 0.00% | **0.60%** | 3.63% | -0.06% |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Fidelity Institutional AM® Emerging** <br> **Markets Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: FIAM LLC<br>| 1.18%\* | 0.00% | **1.18%** | 6.28% | -2.63% | 1.30% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Fidelity Institutional AM® Worldwide** <br> **Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: FIAM LLC<br>| 1.06% | 0.00% | **1.06%** |  |  |  |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Government Money Market Fund:** <br> **Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Federated Investment <br> Management Company<br>| 0.32% | 0.00% | **0.32%** | 5.04% | 2.30% | 1.53% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT GQG US Quality Equity Fund: Class** <br> **I (formerly, Nationwide Variable Insurance** <br> **Trust - NVIT Calvert Equity Fund: Class I)**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: GQG Partners LLC<br>| 0.77%\* | 0.00% | **0.77%** | 8.63% | 7.74% | 8.42% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT International Equity Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Lazard Asset Management <br> LLC<br>| 0.98%\* | 0.00% | **0.98%** | 11.31% | 7.19% | 6.03% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT International Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.30% | 0.00% | **0.30%** | 3.25% | 4.51% | 5.12% |
| Allocation | **Nationwide Variable Insurance Trust -** <br> **NVIT Investor Destinations Capital** <br> **Appreciation Fund: Class P**<br> Investment Advisor: Nationwide Fund <br> Advisors<br>| 0.74% | 0.00% | **0.74%** | 10.67% | 5.98% | 6.40% |
| Allocation | **Nationwide Variable Insurance Trust -** <br> **NVIT Investor Destinations Moderate** <br> **Fund: Class P**<br> Investment Advisor: Nationwide Fund <br> Advisors<br>| 0.73% | 0.00% | **0.73%** | 9.18% | 5.06% | 5.62% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT iShares® Fixed Income ETF Fund:** <br> **Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.22%\* | 0.00% | **0.22%** | 1.36% | -0.30% |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT iShares® Global Equity ETF Fund:** <br> **Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.23%\* | 0.00% | **0.23%** | 16.19% | 10.97% |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT J.P. Morgan Digital Evolution** <br> **Strategy Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: J.P. Morgan Investment <br> Management Inc.<br>| 0.96%\* | 0.00% | **0.96%** | 36.93% |  |  |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT J.P. Morgan Inflation Managed** <br> **Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: J.P. Morgan Investment <br> Management Inc.<br>| 0.75% | 0.00% | **0.75%** |  |  |  |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Jacobs Levy Large Cap Growth** <br> **Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Jacobs Levy Equity <br> Management, Inc.<br>| 0.70%\* | 0.00% | **0.70%** | 26.06% | 22.23% | 16.86% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Loomis Core Bond Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Loomis, Sayles & Company, <br> L.P.<br>| 0.44% | 0.00% | **0.44%** | 1.53% | -0.59% | 1.48% |
| Fixed Income | **Nationwide Variable Insurance Trust -** <br> **NVIT Loomis Short Term Bond Fund:** <br> **Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Loomis, Sayles & Company, <br> L.P.<br>| 0.55% | 0.00% | **0.55%** | 5.35% | 1.65% | 1.81% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Mid Cap Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.25% | 0.00% | **0.25%** | 13.65% | 10.06% | 9.41% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Multi-Manager Small Cap Value** <br> **Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Jacobs Levy Equity <br> Management, Inc. and WCM Investment <br> Management, LLC<br>| 1.06%\* | 0.00% | **1.06%** | 6.52% | 8.63% | 6.79% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT NASDAQ-100 Index Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.72%\* | 0.00% | **0.72%** |  |  |  |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT NS Partners International Focused** <br> **Growth Fund: Class II**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: NS Partners Ltd<br>| 1.23%\* | 0.00% | **1.23%** | -1.72% | 0.88% | 3.47% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Putnam International Value Fund:** <br> **Class X**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Putnam Investment <br> Management, LLC<br>| 0.85% | 0.00% | **0.85%** | 4.44% | 5.75% | 4.11% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT S&P 500 Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.16% | 0.00% | **0.16%** | 24.88% | 14.35% | 12.93% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Small Cap Index Fund: Class Y**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: BlackRock Investment <br> Management, LLC<br>| 0.25% | 0.00% | **0.25%** | 11.34% | 7.22% | 7.67% |
| Equity | **Nationwide Variable Insurance Trust -** <br> **NVIT Victory Mid Cap Value Fund: Class I**<br> Investment Advisor: Nationwide Fund <br> Advisors<br> Sub-Advisor: Victory Capital Management <br> Inc.<br>| 0.87%\* | 0.00% | **0.87%** | 8.54% | 7.17% | 7.10% |
| Equity | **Neuberger Berman Advisers Management** <br> **Trust - Mid-Cap Growth Portfolio: Class I** <br> **Shares**<br> Investment Advisor: Neuberger Berman <br> Investment Advisers LLC<br>| 0.90% | 0.00% | **0.90%** | 24.02% | 10.56% | 10.52% |
| Fixed Income | **Neuberger Berman Advisers Management** <br> **Trust - Short Duration Bond Portfolio:** <br> **Class I Shares**<br> Investment Advisor: Neuberger Berman <br> Investment Advisers LLC<br>| 0.92% | 0.00% | **0.92%** | 6.10% | 2.11% | 1.75% |
| Equity | **New Age Alpha Variable Funds Trust -** <br> **NAA Large Growth Series**<br> Investment Advisor: New Age Alpha <br> Advisors, LLC<br>| 0.85%\* | 0.00% | **0.85%** | 32.18% | 17.69% | 15.83% |
| Equity | **New Age Alpha Variable Funds Trust -** <br> **NAA Mid Growth Series**<br> Investment Advisor: New Age Alpha <br> Advisors, LLC<br>| 0.92%\* | 0.00% | **0.92%** | 17.38% | 9.98% | 10.38% |
| Equity | **New Age Alpha Variable Funds Trust -** <br> **NAA Small Cap Value Series**<br> Investment Advisor: New Age Alpha <br> Advisors, LLC<br>| 1.12%\* | 0.00% | **1.12%** | 8.51% | 7.56% | 6.57% |
| Convertibles | **New York Life Investments VP Funds** <br> **Trust - NYLI VP MacKay Convertible** <br> **Portfolio: Service Class**<br> Investment Advisor: New York Life <br> Investment Management LLC<br> Sub-Advisor: MacKay Shields LLC<br>| 0.83% | 0.00% | **0.83%** | 8.37% | 8.68% | 8.30% |
| Allocation | **Northern Lights Variable Trust -** <br> **Donoghue Forlines Momentum VIT Fund:** <br> **Class 1**<br> Investment Advisor: Donoghue Forlines LLC<br>| 1.56% | 0.00% | **1.56%** | 23.03% | 7.90% | 6.83% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Aggressive Growth ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.54% | 0.00% | **0.54%** | 11.99% | 8.25% | 8.14% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Balanced ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.55% | 0.00% | **0.55%** | 6.86% | 4.68% | 4.84% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Conservative ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.56% | 0.00% | **0.56%** | 6.00% | 3.75% | 3.76% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Growth ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.55% | 0.00% | **0.55%** | 10.79% | 7.38% | 7.25% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Managed Risk Balanced ETF Portfolio:** <br> **Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.76% | 0.00% | **0.76%** | 6.09% | 3.23% | 3.54% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Managed Risk Growth ETF Portfolio:** <br> **Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.75% | 0.00% | **0.75%** | 7.71% | 4.11% | 3.96% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Managed Risk Moderate Growth ETF** <br> **Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.75% | 0.00% | **0.75%** | 7.58% | 3.88% | 3.99% |
| Allocation | **Northern Lights Variable Trust - TOPS®** <br> **Moderate Growth ETF Portfolio: Class 2**<br> Investment Advisor: ValMark Advisers, Inc.<br> Sub-Advisor: Milliman Financial Risk <br> Management, LLC<br>| 0.54% | 0.00% | **0.54%** | 8.84% | 6.06% | 6.11% |
| Allocation | **PIMCO Variable Insurance Trust - All** <br> **Asset Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br> Sub-Advisor: Research Affiliates, LLC<br>| 2.27%\* | 0.00% | **2.27%** | 3.74% | 4.42% | 4.37% |
| Commodities | **PIMCO Variable Insurance Trust -** <br> **CommodityRealReturn® Strategy** <br> **Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 2.28%\* | 0.00% | **2.28%** | 4.16% | 7.10% | 1.65% |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **Dynamic Bond Portfolio: Administrative** <br> **Class**<br> Investment Advisor: PIMCO<br>| 1.03% | 0.00% | **1.03%** | 5.61% | 2.37% | 2.57% |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **Emerging Markets Bond Portfolio:** <br> **Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.28% | 0.00% | **1.28%** | 7.53% | 0.92% | 3.37% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **PIMCO Variable Insurance Trust - Global** <br> **Bond Opportunities Portfolio (Unhedged):** <br> **Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.08% | 0.00% | **1.08%** | -0.50% | -0.33% | 0.82% |
| Fixed Income | **PIMCO Variable Insurance Trust - Global** <br> **Core Bond (Hedged) Portfolio:** <br> **Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.04% | 0.00% | **1.04%** | 3.56% | 1.04% | 1.96% |
| Allocation | **PIMCO Variable Insurance Trust - Global** <br> **Managed Asset Allocation Portfolio:** <br> **Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.18%\* | 0.00% | **1.18%** | 10.81% | 6.11% | 5.85% |
| Fixed Income | **PIMCO Variable Insurance Trust - High** <br> **Yield Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 0.80% | 0.00% | **0.80%** | 6.89% | 3.35% | 4.50% |
| Fixed Income | **PIMCO Variable Insurance Trust - Income** <br> **Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.06% | 0.00% | **1.06%** | 5.41% | 2.71% |  |
| Fixed Income | **PIMCO Variable Insurance Trust -** <br> **International Bond Portfolio (U.S. Dollar-**<br> **Hedged): Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.01% | 0.00% | **1.01%** | 5.46% | 1.34% | 2.51% |
| Fixed Income | **PIMCO Variable Insurance Trust - Long-**<br> **Term U.S. Government Portfolio:** <br> **Administrative Class**<br> Investment Advisor: PIMCO<br>| 2.58% | 0.00% | **2.58%** | -6.01% | -4.92% | -0.73% |
| Fixed Income | **PIMCO Variable Insurance Trust - Real** <br> **Return Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 1.07% | 0.00% | **1.07%** | 2.13% | 1.93% | 2.16% |
| Fixed Income | **PIMCO Variable Insurance Trust - Short-**<br> **Term Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 0.62% | 0.00% | **0.62%** | 6.05% | 2.76% | 2.40% |
| Fixed Income | **PIMCO Variable Insurance Trust - Total** <br> **Return Portfolio: Administrative Class**<br> Investment Advisor: PIMCO<br>| 0.79% | 0.00% | **0.79%** | 2.53% | -0.03% | 1.54% |
| Fixed Income | **ProFunds - ProFund Access VP High** <br> **Yield Fund**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 6.31% | 1.60% | 3.30% |
| Equity | **ProFunds - ProFund VP Asia 30**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 11.56% | -0.58% | 1.93% |
| Equity | **ProFunds - ProFund VP Banks**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 22.24% | 4.21% | 7.13% |
| Equity | **ProFunds - ProFund VP Biotechnology**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68% | 0.00% | **1.68%** | -0.15% | 6.27% | 4.65% |
| Equity | **ProFunds - ProFund VP Bull**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 22.49% | 12.27% | 10.89% |
| Equity | **ProFunds - ProFund VP Communication** <br> **Services**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 32.64% | 10.97% | 7.08% |
| Equity | **ProFunds - ProFund VP Consumer** <br> **Discretionary**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 24.44% | 9.74% | 9.93% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **ProFunds - ProFund VP Consumer** <br> **Staples**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 10.36% | 6.25% | 6.12% |
| Equity | **ProFunds - ProFund VP Emerging** <br> **Markets**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 7.85% | 1.61% | 3.37% |
| Equity | **ProFunds - ProFund VP Energy**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 3.77% | 9.94% | 2.51% |
| Equity | **ProFunds - ProFund VP Europe 30**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 4.35% | 5.03% | 4.05% |
| Equity | **ProFunds - ProFund VP Financials**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 28.45% | 9.67% | 9.53% |
| Equity | **ProFunds - ProFund VP Health Care**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 0.82% | 5.85% | 7.27% |
| Equity | **ProFunds - ProFund VP Industrials**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 15.47% | 9.02% | 9.31% |
| Equity | **ProFunds - ProFund VP International**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 0.88% | 2.14% | 2.66% |
| Equity | **ProFunds - ProFund VP Internet**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 29.34% | 10.64% | 13.50% |
| Equity | **ProFunds - ProFund VP Japan**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 22.22% | 12.27% | 9.06% |
| Equity | **ProFunds - ProFund VP Large-Cap** <br> **Growth**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 33.78% | 15.07% | 13.29% |
| Equity | **ProFunds - ProFund VP Large-Cap Value**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 10.42% | 8.71% | 8.18% |
| Equity | **ProFunds - ProFund VP Materials**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | -1.54% | 8.03% | 5.99% |
| Equity | **ProFunds - ProFund VP Mid-Cap Growth**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 13.89% | 8.19% | 8.06% |
| Equity | **ProFunds - ProFund VP Mid-Cap Value**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 9.85% | 8.45% | 7.37% |
| Allocation | **ProFunds - ProFund VP Mid-Cap**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 11.14% | 7.82% | 7.22% |
| Equity | **ProFunds - ProFund VP NASDAQ-100**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 23.43% | 17.66% | 16.13% |
| Equity | **ProFunds - ProFund VP Pharmaceuticals**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 3.41% | 2.79% | 3.14% |
| Equity | **ProFunds - ProFund VP Precious Metals**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 6.58% | 1.69% | 4.23% |
| Equity | **ProFunds - ProFund VP Real Estate**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 3.55% | 1.39% | 3.91% |
| Equity | **ProFunds - ProFund VP Semiconductor**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 70.73% | 34.76% | 25.95% |
| Equity | **ProFunds - ProFund VP Small-Cap** <br> **Growth**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 7.80% | 6.41% | 7.73% |
| Equity | **ProFunds - ProFund VP Small-Cap Value**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 5.87% | 6.35% | 6.37% |
| Equity | **ProFunds - ProFund VP Small-Cap**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 9.46% | 5.37% | 5.85% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **ProFunds - ProFund VP Technology**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.66% | 0.00% | **1.66%** | 19.80% | 18.90% | 18.02% |
| Equity | **ProFunds - ProFund VP Utilities**<br> Investment Advisor: ProFund Advisors LLC<br>| 1.68%\* | 0.00% | **1.68%** | 21.28% | 4.49% | 6.50% |
| Fixed Income | **Putnam Variable Trust - Putnam VT High** <br> **Yield Fund: Class IB**<br> Investment Advisor: Franklin Advisers, Inc.<br> Sub-Advisor: Putnam Investment <br> Management, LLC, Franklin Templeton <br> Investment Management Limited<br>| 0.98% | 0.00% | **0.98%** | 7.86% | 3.38% | 4.25% |
| Equity | **Putnam Variable Trust - Putnam VT** <br> **International Value Fund: Class IB**<br> Investment Advisor: Putnam Investment <br> Management, LLC<br> Sub-Advisor: Franklin Advisers, Inc., Franklin <br> Templeton Investment Management Limited, <br> The Putnam Advisory Company, LLC<br>| 1.07% | 0.00% | **1.07%** | 5.21% | 6.81% | 5.46% |
| Equity | **Putnam Variable Trust - Putnam VT Large** <br> **Cap Value Fund: Class IB**<br> Investment Advisor: Putnam Investment <br> Management, LLC<br> Sub-Advisor: Franklin Advisers, Inc., Franklin <br> Templeton Investment Management Limited<br>| 0.80% | 0.00% | **0.80%** | 19.14% | 12.45% | 10.88% |
| Equity | **Putnam Variable Trust - Putnam VT** <br> **Sustainable Leaders Fund: Class IB**<br> Investment Advisor: Putnam Investment <br> Management, LLC<br> Sub-Advisor: Franklin Advisers, Inc., Franklin <br> Templeton Investment Management Limited<br>| 0.88% | 0.00% | **0.88%** | 23.02% | 13.72% | 13.50% |
| Equity | **Royce Capital Fund - Royce Micro-Cap** <br> **Portfolio: Investment Class**<br> Investment Advisor: Royce & Associates, LP<br>| 1.18% | 0.00% | **1.18%** | 13.67% | 11.00% | 7.28% |
| Equity | **Royce Capital Fund - Royce Small-Cap** <br> **Portfolio: Investment Class**<br> Investment Advisor: Royce & Associates, LP<br>| 1.14% | 0.00% | **1.14%** | 3.40% | 7.18% | 5.63% |
| Equity | **Rydex Variable Trust - Banking Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.75%\* | 0.00% | **1.75%** | 23.11% | 5.15% | 6.15% |
| Equity | **Rydex Variable Trust - Basic Materials** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | -2.47% | 7.17% | 6.42% |
| Equity | **Rydex Variable Trust - Biotechnology** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | -1.40% | 2.11% | 3.52% |
| Commodities | **Rydex Variable Trust - Commodities** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.77%\* | 0.00% | **1.77%** | 8.29% | 6.11% | 0.05% |
| Equity | **Rydex Variable Trust - Electronics Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | 16.13% | 21.13% | 19.69% |
| Equity | **Rydex Variable Trust - Energy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | 0.07% | 8.35% | 0.21% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Rydex Variable Trust - Energy Services** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | -7.90% | 0.19% | -9.34% |
| Equity | **Rydex Variable Trust - Financial Services** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 22.26% | 9.03% | 8.33% |
| Alternative | **Rydex Variable Trust - Global Managed** <br> **Futures Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 2.11%\* | 0.00% | **2.11%** | 0.37% | 3.73% | 0.75% |
| Equity | **Rydex Variable Trust - Health Care Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | 0.14% | 5.47% | 6.51% |
| Fixed Income | **Rydex Variable Trust - High Yield** <br> **Strategy Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.67%\* | 0.00% | **1.67%** | 6.68% | 1.50% | 3.71% |
| Equity | **Rydex Variable Trust - Internet Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 23.40% | 8.91% | 10.93% |
| Equity | **Rydex Variable Trust - Leisure Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 16.50% | 4.77% | 6.43% |
| Alternative | **Rydex Variable Trust - Multi-Hedge** <br> **Strategies Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.82%\* | 0.00% | **1.82%** | -3.66% | 2.43% | 1.68% |
| Equity | **Rydex Variable Trust - NASDAQ-100®** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.70%\* | 0.00% | **1.70%** | 23.91% | 17.87% | 16.48% |
| Equity | **Rydex Variable Trust - Precious Metals** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 8.12% | 4.01% | 6.67% |
| Equity | **Rydex Variable Trust - Real Estate Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 5.03% | 1.22% | 3.44% |
| Equity | **Rydex Variable Trust - Retailing Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 16.60% | 9.90% | 7.99% |
| Equity | **Rydex Variable Trust - S&P 500 Pure** <br> **Growth Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 26.67% | 9.44% | 9.23% |
| Equity | **Rydex Variable Trust - S&P 500 Pure** <br> **Value Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 10.84% | 6.32% | 5.99% |
| Equity | **Rydex Variable Trust - S&P MidCap 400** <br> **Pure Growth Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 16.15% | 8.58% | 6.25% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Rydex Variable Trust - S&P MidCap 400** <br> **Pure Value Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 4.42% | 12.27% | 8.56% |
| Equity | **Rydex Variable Trust - S&P SmallCap 600** <br> **Pure Growth Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 8.19% | 4.21% | 5.62% |
| Equity | **Rydex Variable Trust - S&P SmallCap 600** <br> **Pure Value Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.64%\* | 0.00% | **1.64%** | 3.74% | 9.22% | 5.40% |
| Equity | **Rydex Variable Trust - Technology Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.73%\* | 0.00% | **1.73%** | 23.97% | 16.19% | 15.82% |
| Equity | **Rydex Variable Trust -** <br> **Telecommunications Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.77%\* | 0.00% | **1.77%** | 15.73% | 1.71% | 3.07% |
| Equity | **Rydex Variable Trust - Transportation** <br> **Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 1.56% | 7.13% | 5.26% |
| Equity | **Rydex Variable Trust - Utilities Fund**<br> Investment Advisor: Guggenheim <br> Investments<br>| 1.74%\* | 0.00% | **1.74%** | 19.86% | 4.09% | 6.09% |
| Equity | **T. Rowe Price Equity Series, Inc. - T.** <br> **Rowe Price Blue Chip Growth Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br>| 0.99% | 0.00% | **0.99%** | 35.17% | 14.18% | 14.48% |
| Equity | **T. Rowe Price Equity Series, Inc. - T.** <br> **Rowe Price Equity Income Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br>| 0.98% | 0.00% | **0.98%** | 11.38% | 8.21% | 8.00% |
| Equity | **T. Rowe Price Equity Series, Inc. - T.** <br> **Rowe Price Health Sciences Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br>| 1.10% | 0.00% | **1.10%** | 1.42% | 5.81% | 8.20% |
| Equity | **T. Rowe Price Equity Series, Inc. - T.** <br> **Rowe Price Mid-Cap Growth Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br> Sub-Advisor: T. Rowe Price Investment <br> Management, Inc.<br>| 1.08% | 0.00% | **1.08%** | 9.04% | 7.35% | 9.85% |
| Fixed Income | **T. Rowe Price Fixed Income Series, Inc. -** <br> **T. Rowe Price Limited-Term Bond** <br> **Portfolio: II**<br> Investment Advisor: T. Rowe Price <br> Associates, Inc.<br>| 0.75%\* | 0.00% | **0.75%** | 4.70% | 1.72% | 1.56% |
| Equity | **Third Avenue Variable Series Trust -** <br> **Third Avenue Value Portfolio**<br> Investment Advisor: Third Avenue <br> Management LLC<br>| 1.30%\* | 0.00% | **1.30%** | -2.27% | 10.31% | 5.45% |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **VanEck VIP Trust - VanEck VIP Emerging** <br> **Markets Bond Fund: Initial Class**<br> Investment Advisor: Van Eck Associates <br> Corporation<br>| 1.11%\* | 0.00% | **1.11%** | 2.77% | 2.18% | 2.03% |
| Equity | **VanEck VIP Trust - VanEck VIP Global** <br> **Gold Fund: Class S**<br> Investment Advisor: Van Eck Associates <br> Corporation<br>| 1.45%\* | 0.00% | **1.45%** | 14.41% | 5.46% | 6.69% |
| Equity | **VanEck VIP Trust - VanEck VIP Global** <br> **Resources Fund: Initial Class**<br> Investment Advisor: Van Eck Associates <br> Corporation<br>| 1.06% | 0.00% | **1.06%** | -2.83% | 7.54% | 0.82% |
| Allocation | **Vanguard Variable Insurance Fund -** <br> **Balanced Portfolio**<br> Investment Advisor: Wellington Management <br> Company, LLP<br>| 0.20% | 0.25% | **0.45%** | 14.80% | 8.18% | 8.37% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Capital Growth Portfolio**<br> Investment Advisor: PRIMECAP <br> Management Company<br>| 0.34% | 0.25% | **0.59%** | 13.41% | 11.86% | 12.37% |
| Allocation | **Vanguard Variable Insurance Fund -** <br> **Conservative Allocation Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.13% | 0.25% | **0.38%** | 7.49% | 4.04% | 4.90% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Diversified Value Portfolio**<br> Investment Advisor: Hotchkis and Wiley <br> Capital Management, LLC, Lazard Asset <br> Management<br>| 0.28% | 0.25% | **0.53%** | 14.89% | 12.24% | 9.76% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Equity Income Portfolio**<br> Investment Advisor: Wellington Management <br> Company, LLP; Vanguard Group Inc. <br> (Quantitative Equity Group)<br>| 0.29% | 0.25% | **0.54%** | 15.12% | 9.85% | 9.89% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Equity Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.14% | 0.25% | **0.39%** | 24.84% | 14.36% | 12.95% |
| Fixed Income | **Vanguard Variable Insurance Fund -** <br> **Global Bond Index Portfolio**<br> Investment Advisor: The Vanguard Group <br> Inc. (Vanguard Fixed Income Group)<br>| 0.13% | 0.25% | **0.38%** | 2.03% | -0.23% |  |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Growth Portfolio**<br> Investment Advisor: Wellington Management <br> Company, LLP<br>| 0.34% | 0.25% | **0.59%** | 33.14% | 15.96% | 14.67% |
| Fixed Income | **Vanguard Variable Insurance Fund - High** <br> **Yield Bond Portfolio**<br> Investment Advisor: Wellington Management <br> Company, LLP and Vanguard Group, Inc. <br> (Vanguard Fixed Income Group)<br>| 0.24% | 0.25% | **0.49%** | 6.30% | 3.37% | 4.53% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **International Portfolio**<br> Investment Advisor: Baillie Gifford Overseas <br> Ltd.; Schroder Investment Management <br> North America, Inc.<br>| 0.31% | 0.25% | **0.56%** | 9.01% | 6.27% | 8.40% |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Equity | **Vanguard Variable Insurance Fund - Mid-**<br> **Cap Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.17% | 0.25% | **0.42%** | 15.08% | 9.70% | 9.41% |
| Allocation | **Vanguard Variable Insurance Fund -** <br> **Moderate Allocation Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.13% | 0.25% | **0.38%** | 10.32% | 6.06% | 6.52% |
| Equity | **Vanguard Variable Insurance Fund - Real** <br> **Estate Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.26% | 0.25% | **0.51%** | 4.74% | 2.84% | 4.99% |
| Fixed Income | **Vanguard Variable Insurance Fund -** <br> **Short-Term Investment-Grade Portfolio**<br> Investment Advisor: The Vanguard Group <br> Inc. (Vanguard Fixed Income Group)<br>| 0.14% | 0.25% | **0.39%** | 4.89% | 1.97% | 2.24% |
| Equity | **Vanguard Variable Insurance Fund -** <br> **Small Company Growth Portfolio**<br> Investment Advisor: ArrowMark Partners; <br> The Vanguard Group, Inc. (Vanguard <br> Quantitative Equity Group)<br>| 0.29% | 0.35% | **0.64%** | 11.38% | 6.96% | 8.66% |
| Fixed Income | **Vanguard Variable Insurance Fund - Total** <br> **Bond Market Index Portfolio**<br> Investment Advisor: The Vanguard Group <br> Inc. (Vanguard Fixed Income Group)<br>| 0.14% | 0.25% | **0.39%** | 1.24% | -0.39% | 1.25% |
| Equity | **Vanguard Variable Insurance Fund - Total** <br> **International Stock Market Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.11% | 0.25% | **0.36%** | 5.06% | 4.23% |  |
| Equity | **Vanguard Variable Insurance Fund - Total** <br> **Stock Market Index Portfolio**<br> Investment Advisor: The Vanguard Group, <br> Inc. (Vanguard Equity Index Group)<br>| 0.13% | 0.25% | **0.38%** | 23.71% | 13.67% | 12.37% |
| Fixed Income | **Victory Variable Insurance Funds II -** <br> **Victory Pioneer Bond VCT Portfolio:** <br> **Class II (formerly, Pioneer Variable** <br> **Contracts Trust - Pioneer Bond VCT** <br> **Portfolio: Class II)**<br> Investment Advisor: Victory Capital <br> Management, Inc.<br>| 0.83% | 0.00% | **0.83%** | 3.02% | 0.43% | 1.73% |
| Equity | **Victory Variable Insurance Funds II -** <br> **Victory Pioneer Fund VCT Portfolio:** <br> **Class II (formerly, Pioneer Variable** <br> **Contracts Trust - Pioneer Fund VCT** <br> **Portfolio: Class II)**<br> Investment Advisor: Victory Capital <br> Management, Inc.<br>| 1.00% | 0.00% | **1.00%** | 22.31% | 14.86% | 13.05% |
| Equity | **Victory Variable Insurance Funds II -** <br> **Victory Pioneer Mid Cap Value VCT** <br> **Portfolio: Class II (formerly, Pioneer** <br> **Variable Contracts Trust - Pioneer Mid** <br> **Cap Value VCT Portfolio: Class II)**<br> Investment Advisor: Victory Capital <br> Management, Inc.<br>| 1.01% | 0.00% | **1.01%** | 10.64% | 9.02% | 6.91% |

---

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* | **Average Annual**<br> **Total Returns**<br> *(as of 12/31/2024)* |
| **Type** | **Underlying Mutual Fund and Adviser/**<br> **Subadviser** | **Current**<br> **Expenses** | **Low Cost**<br> **Fund Platform**<br> **Fee**<sup>1</sup> | **Current**<br> **Expenses +**<br> **Low Cost**<br> **Fund Platform**<br> **Fee** | **1**<br> **year**<br>| **5**<br> **year**<br>| **10**<br> **year**<br>|
| Fixed Income | **Victory Variable Insurance Funds II -** <br> **Victory Pioneer Strategic Income VCT** <br> **Portfolio: Class II (formerly, Pioneer** <br> **Variable Contracts Trust - Pioneer** <br> **Strategic Income VCT Portfolio: Class II)**<br> Investment Advisor: Victory Capital <br> Management, Inc.<br>| 1.07%\* | 0.00% | **1.07%** | 3.88% | 1.40% | 2.45% |
| Equity | **Virtus Variable Insurance Trust - Virtus** <br> **Duff & Phelps Real Estate Securities** <br> **Series: Class A**<br> Investment Advisor: Virtus Investment <br> Advisers, Inc.<br> Sub-Advisor: Duff & Phelps Investment <br> Management Co., an affiliate of VIA.<br>| 1.10%\* | 0.00% | **1.10%** | 10.92% | 5.58% | 6.12% |
| Fixed Income | **Virtus Variable Insurance Trust - Virtus** <br> **Newfleet Multi-Sector Intermediate Bond** <br> **Series: Class A**<br> Investment Advisor: Virtus Investment <br> Advisers, Inc.<br> Sub-Advisor: Newfleet Asset Management, <br> an operating division of Virtus Fixed Income <br> Advisers, LLC, an affiliate of VIA.<br>| 0.94%\* | 0.00% | **0.94%** | 5.91% | 2.32% | 3.34% |
| Equity | **Virtus Variable Insurance Trust - Virtus** <br> **SGA International Growth Series: Class A**<br> Investment Advisor: Virtus Investment <br> Advisers, Inc.<br> Sub-Advisor: Sustainable Growth Advisers, <br> LP, an affiliate of VIA.<br>| 1.14%\* | 0.00% | **1.14%** | -5.59% | 3.96% | 2.05% |

---

\*

This underlying mutual fund's current expenses reflect a temporary fee reduction.

<sup>1</sup>

Reflects the current Low Cost Fund Platform Fee. The maximum Low Cost Fund Platform Fee applicable for any Sub-account is 0.35%.

**Early Cut-Off Times** 

The following Investment Portfolios currently impose the following transfer cut-off times before the end of the Business Day:

**2:30 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Balanced Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Capital Growth Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Conservative Allocation Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Diversified Value Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Equity Income Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Equity Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Global Bond Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Growth Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - High Yield Bond Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - International Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Mid-Cap Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Moderate Allocation Portfolio

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Real Estate Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Short-Term Investment-Grade Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Small Company Growth Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Total Bond Market Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Total International Stock Market Index Portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Vanguard Variable Insurance Fund - Total Stock Market Index Portfolio

**3:30 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Advisors Preferred Trust - Gold Bullion Strategy Portfolio

**3:50 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Banking Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Basic Materials Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Biotechnology Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Commodities Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Consumer Products Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Electronics Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Energy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Energy Services Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Financial Services Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Health Care Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - High Yield Strategy Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Internet Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Leisure Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - NASDAQ-100® Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Precious Metals Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Real Estate Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Retailing Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P 500 Pure Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P 500 Pure Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P MidCap 400 Pure Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P MidCap 400 Pure Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P SmallCap 600 Pure Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - S&P SmallCap 600 Pure Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Technology Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Telecommunications Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Transportation Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Rydex Variable Trust - Utilities Fund

**3:55 P.M.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Asia 30

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Banks

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Biotechnology

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Bull

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Communication Services

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Consumer Discretionary

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Consumer Staples

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Emerging Markets

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Energy

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Europe 30

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Financials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Health Care

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Industrials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP International

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Internet

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Japan

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Large-Cap Growth

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Large-Cap Value

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Mid-Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Mid-Cap Growth

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Mid-Cap Value

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP NASDAQ-100

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Pharmaceuticals

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Precious Metals

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Real Estate

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Semiconductor

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Small-Cap

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Small-Cap Growth

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Small-Cap Value

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Technology

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ProFunds - ProFund VP Utilities

------

**Outside back cover page**

This summary prospectus incorporates by reference the statutory prospectus and Statement of Additional Information, both dated May 1, 2025, and both as supplemented July 1, 2025. The statutory prospectus and Statement of Additional Information may be obtained, free of charge, at https://nationwide.onlineprospectus.net/NW/C000220424NW/index.php.

Reports and other information about the Separate Account are available on the SEC's website at http://www.sec.gov. Copies of this information may be obtained, upon payment of a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.

SEC Contract Identifier: [ ]

------

## Exhibit 99.99

**POWER OF ATTORNEY**

Each of the undersigned as directors and/or officers of NATIONWIDE LIFE INSURANCE COMPANY and NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY, both Ohio corporations, which have filed or will file with the U.S. Securities and Exchange Commission under the provisions of the Securities Act of 1933, as amended; the Investment Company Act of 1940, as amended; and, if applicable, the Securities Exchange Act of 1934, various registration statements and amendments thereto for the registration of current, as well as any future, separate accounts established by said corporations for the purpose of registering under said Act(s) immediate or deferred variable annuity contracts, fixed interest rate options subject to a market value adjustment, group flexible fund retirement annuity contracts and variable life insurance policies in connection with the separate accounts and contracts listed below:

---

| | |
|:---|:---|
| **Variable Annuities and Variable Life Insurance Policies** | **Variable Annuities and Variable Life Insurance Policies** |
| **Separate Account (1940 Act File No.)** | **1933 Act File No(s). / Contract Name(s)** |
| MFS Variable Account (811-02662) | 002-73432 |
| Nationwide Jefferson National VA Separate Account 1 <br> (811-22994)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Monument Advisor NY & Monument Advisor Select NY (1933 <br> Act # TBD)<br>|
| Nationwide Multi-Flex Variable Account (811-03338) | 033-23905, 002-75174 |
| Nationwide Variable Account (811-02716) | 002-58043, 333-80481, 333-176908 |
| Nationwide Variable Account-II (811-03330) | &nbsp;&nbsp;&nbsp;&nbsp; 002-75059, 033-67636, 033-60063, 333-103093, 333-103094, <br> 333-103095, 333-104513, 333-104511, 333-104512, <br> 333-104510, 333-151990, 333-105992, 333-147273, <br> 333-147198, 333-160635, 333-164886, 333-168818, <br> 333-177934, 333-177581, 333-177582, 333-177316, <br> 333-177319, 333-177439, 3333-177441, 333-177729, <br> 333-177731, 333-173349, 333-177938, 333-182494, <br> 333-235382, 333-235383, 333-258296<br>|
| Nationwide Variable Account-3 (811-05405) | 033-18422 |
| Nationwide Variable Account-4 (811-05701) | &nbsp;&nbsp;&nbsp;&nbsp; 333-62692, 333-135650, 333-140812, 333-201820, 333-240010, <br> 333-240009<br>|
| Nationwide Variable Account-5 (811-08142) | 033-71440, 333-267078, 333-272927 |
| Nationwide Variable Account-6 (811-08684) | 033-82370, 333-21909 |
| Nationwide Variable Account-7 (811-08666) | 033-82190, 033-82174, 033-89560 |
| Nationwide Variable Account-8 (811-07357) | 033-62637, 033-62659 |
| Nationwide Variable Account-9 (811-08241) | &nbsp;&nbsp;&nbsp;&nbsp; 333-28995, 333-52579, 333-56073, 333-53023, 333-79327, <br> 333-69014, 333-75360<br>|
| Nationwide Variable Account-10 (811-09407) | 333-81701 |
| Nationwide Variable Account-11 (811-10591) | 333-74904, 333-74908 |
| Nationwide Variable Account-12 (811-21099) | 333-88612, 333-108894, 333-178057, 333-178059 |
| Nationwide Variable Account-13 (811-21139) | 333-91890 |
| Nationwide Variable Account-14 (811-21205) | 333-104339 |
| Nationwide Variable Account-15 (811-23386) | 333-227783, 333-227780 |
| Nationwide VA Separate Account-A (811-05606) | 033-22940 |
| Nationwide VA Separate Account-B (811-06399) | 033-86408 |
| Nationwide VA Separate Account-C (811-07908) | 033-66496 |
| Nationwide VA Separate Account-D (811-10139) | 333-45976 |
| Nationwide VLI Separate Account (811-04399) | 033-35698 |
| Nationwide VLI Separate Account-2 (811-05311) | 033-16999, 033-62795, 033-35783, 033-63179 |
| Nationwide VLI Separate Account-3 (811-06140) | 033-44296 |
| Nationwide VLI Separate Account-4 (811-08301) | &nbsp;&nbsp;&nbsp;&nbsp; 333-31725, 333-43671, 333-94037, 333-52615, 333-69160, <br> 333-83010, 333-137202, 333-169879, 333-229640 <br>|
| Nationwide VLI Separate Account-5 (811-10143) | 333-46338, 333-46412, 333-66572, 333-121881 |
| Nationwide VLI Separate Account-6 (811-21398) | 333-106908 |
| Nationwide VLI Separate Account-7 (811-21610) | &nbsp;&nbsp;&nbsp;&nbsp; 333-117998, 333-121879, 333-146649, 333-149295, <br> 333-156020, 333-258039, 333-258035<br>|

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| | |
|:---|:---|
| **Variable Annuities and Variable Life Insurance Policies** | **Variable Annuities and Variable Life Insurance Policies** |
| **Separate Account (1940 Act File No.)** | **1933 Act File No(s). / Contract Name(s)** |
| Nationwide VL Separate Account-C (811-08351) | 333-43639 |
| Nationwide VL Separate Account-D (811-08891) | 333-59517 |
| Nationwide VL Separate Account-G (811-21697) | &nbsp;&nbsp;&nbsp;&nbsp; 333-121878, 333-140608, 333-146073, 333-146650, <br> 333-149213, 333-155153, 333-215169, 333-215173, <br> 333-223705, 333-253123, 333-272262, 333-280429<br>|
| Nationwide Provident VA Separate Account 1 (811-07708) | 333-164127, 333-164126 |
| Nationwide Provident VLI Separate Account 1 (811-04460) | &nbsp;&nbsp;&nbsp;&nbsp; 333-164180, 333-164117, 333-164178, 333-164179, <br> 333-164119, 333-164120, 333-164115, 333-164118, <br> 333-164116<br>|
| Nationwide Provident VA Separate Account A (811-06484) | &nbsp;&nbsp;&nbsp;&nbsp; 333-164131, 333-164130, 333-164132, 333-164129, <br> 333-164128<br>|
| Nationwide Provident VLI Separate Account A (811-08722) | &nbsp;&nbsp;&nbsp;&nbsp; 333-164188, 333-164123, 333-164185, 333-164122, <br> 333-164121<br>|

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
| **General Account Products** | **General Account Products** |
| **Insurance Company** | **1933 Act File No(s). / Contract Name(s)**  |
| Nationwide Life Insurance Company | &nbsp;&nbsp;&nbsp;&nbsp; 333-271186, 333-271187, 333-271188, 333-278508, <br> 333-278509, 333-286416<br>|

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hereby constitute and appoint John L. Carter, Steven A. Ginnan, Craig A. Hawley, Holly Snyder, Michael Stobart, Paige L. Ryan, Shawn M. Parry, Jamie Ruff Casto, Stephen M. Jackson, and Benjamin W. Mischnick, and each of them with power to act without the others, as his/her attorney, with full power of substitution for and in his/her name, place and stead, in any and all capacities, to approve, and sign such Registration Statements, and any and all amendments thereto, with power to affix the corporate seal of said corporation thereto and to attest said seal and to file the same, with all exhibits thereto and other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys, and each of them, full power and authority to do and perform all and every act and thing requisite to all intents and purposes as he/she might or could do in person, hereby ratifying and confirming that which said attorneys, or any of them, may lawfully do or cause to be done by virtue hereof. This instrument may be executed in one or more counterparts.

IN WITNESS WHEREOF, the undersigned have herewith set their names as of this 10<sup>th</sup> day of June, 2025.

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| | |
|:---|:---|
| /s/ John L. Carter | /s/ Craig A. Hawley |
| JOHN L. CARTER, Director and Officer | CRAIG A. HAWLEY, Director and Officer |
| /s/ Timothy G. Frommeyer | /s/ Holly R. Snyder |
| TIMOTHY G. FROMMEYER, Director and Officer | HOLLY R. SNYDER, Director and Officer |
| /s/ Steven A. Ginnan | /s/ Kirt A. Walker |
| STEVEN A. GINNAN, Director and Officer | KIRT A. WALKER, Director |
| /s/ James D. Benson |  |
| JAMES D. BENSON, Officer |  |

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## Corresp

![](g138721img4b0768241.gif)

July 1, 2025

**VIA EDGAR TRANSMISSION**

The United States Securities <br> and Exchange Commission <br>100 F. Street, NE <br>Washington, D.C. 20549-8629

Re: Initial Registration Statement in Connection with the Merger of Jefferson National Life Insurance Company of New York into Nationwide Life Insurance Company <br>

Commissioners:

On behalf of Nationwide Life Insurance Company ("Nationwide") and its Nationwide Jefferson National VA Separate Account 1 (the "Variable Account"), we are hereby transmitting for filing with the Securities and Exchange Commission (the "SEC") an initial registration statement on Form N-4 (the "Registration Statement") for certain variable annuity contracts titled Monument Advisor NY and Monument Advisor Select NY. The filing of the Registration Statement arises from the merging of Jefferson National Life Insurance Company of New York into NLIC (the "Merger"), effective July 1, 2025.

Pursuant to Rule 461 under the Securities Act of 1933, as amended, NLIC and the Account's principal underwriter have submitted a request for acceleration of effectiveness of the Registration Statement to July 1, 2025. NLIC would very much appreciate any assistance the SEC Staff could provide in meeting such request.

If you have any questions or comments regarding the Registration Statement, please feel free to call the undersigned at (614) 677-8212.

Sincerely,

Nationwide Life Insurance Company

/s/ Stephen M. Jackson

Stephen M. Jackson <br>Senior Counsel <br>

cc:

Ms. Elizabeth Bentzinger

Home Office: DSPF-16, 1 Nationwide PlazaJefferson National Life Insurance Company

Columbus, OH 43215-2239Nationwide Financial

Legal Counsel to Jefferson National Life Insurance Company and their Associated Companies

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