# EDGAR Filing Document

**Accession Number:** 0000912869
**File Stem:** 0000912869-26-000025
**Filing Date:** 2026-4
**Character Count:** 462179
**Document Hash:** 5a7c897fefb3b6e24976a1828bb2bc13
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000912869-26-000025.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0000912869-26-000025

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260422

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**EFFECTIVENESS DATE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Symetra SEPARATE ACCOUNT C
- **CENTRAL INDEX KEY:** 0000912869

**ORGANIZATION NAME:**
- **EIN:** 910742147
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08052
- **FILM NUMBER:** 26892097

**BUSINESS ADDRESS:**
- **STREET 1:** 777 108TH AVE NE
- **STREET 2:** SUITE 1200
- **CITY:** BELLEVUE
- **STATE:** WA
- **ZIP:** 98004-5135
- **BUSINESS PHONE:** 877-796-3872

**MAIL ADDRESS:**
- **STREET 1:** 777 108TH AVE NE
- **STREET 2:** SUITE 1200
- **CITY:** BELLEVUE
- **STATE:** WA
- **ZIP:** 98004-5135

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SAFECO SEPARATE ACCOUNT C
- **DATE OF NAME CHANGE:** 19930930

## Series and Classes Contracts Data

### Symetra SEPARATE ACCOUNT C (Series ID: S000001238)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000003366 | Spinnaker Variable Annuity                         |  |
| C000003367 | Spinnaker Advisor                                  |  |
| C000003368 | Spinnaker Choice                                   |  |
| C000003369 | Mainsail                                           |  |
| C000039522 | Symetra Focus                                      |  |
| C000077288 | Symetra Retirement Passport Group Variable Annuity |  |

**Annual Report**

**December 31, 2025**

**Symetra Separate Account C**

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**TABLE OF CONTENTS**

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| | |
|:---|:---|
| | <u>Page</u> |
| Report of Independent Registered Public Accounting Firm | <u>[1](#i00b1461e2cdb467a93ce7db787db2ffd_7)</u> |
| Statements of Assets and Liabilities | <u>[4](#i00b1461e2cdb467a93ce7db787db2ffd_10)</u> |
| Current Year Statements of Operations and Changes in Net Assets | <u>[8](#i00b1461e2cdb467a93ce7db787db2ffd_13)</u> |
| Prior Year Statements of Operations and Changes in Net Assets | <u>[15](#i00b1461e2cdb467a93ce7db787db2ffd_16)</u> |
| Notes to Financial Statements: |  |
| Note 1. Organization | <u>[22](#i00b1461e2cdb467a93ce7db787db2ffd_22)</u> |
| Note 2. Significant Accounting Policies | <u>[26](#i00b1461e2cdb467a93ce7db787db2ffd_25)</u> |
| Note 3. Expenses and Related Party Transactions | <u>[26](#i00b1461e2cdb467a93ce7db787db2ffd_28)</u> |
| Note 4. Investment Transactions | <u>[27](#i00b1461e2cdb467a93ce7db787db2ffd_31)</u> |
| Note 5. Changes in Accumulation Units Outstanding | <u>[29](#i00b1461e2cdb467a93ce7db787db2ffd_34)</u> |
| Note 6. Accumulation Unit Values | <u>[33](#i00b1461e2cdb467a93ce7db787db2ffd_37)</u> |
| Note 7. Subsequent Events | <u>[48](#i00b1461e2cdb467a93ce7db787db2ffd_40)</u> |

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| |
|:---|
| Symetra Separate Account C |
| **Report of Independent Registered Public Accounting Firm** |

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To the Board of Directors of Symetra Life Insurance Company and the Contract Owners of Symetra Separate Account C:

*Opinion on the Financial Statements*

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

*Basis for Opinion*

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

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Such procedures also included confirmation of securities owned as of December 31, 2025, by correspondence with custodians and transfer agents of the underlying investments. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the auditor of the Separate Account since 2020.

Minneapolis, Minnesota

April 22, 2026

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| |
|:---|
| Symetra Separate Account C |
| **Report of Independent Registered Public Accounting Firm (Continued)** |

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**Appendix**

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

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| | |
|:---|:---|
| BlackRock Advantage Large Cap Value V.I. Fund | Fidelity Freedom Funds 2025 II |
| BNY Mellon Appreciation | Fidelity Freedom Funds 2030 II |
| BNY Mellon MidCap Stock | Fidelity Freedom Funds 2050 II |
| BNY Mellon Stock Index | Fidelity Freedom Income Fund II |
| BNY Mellon Sustainable U.S. Equity | Fidelity Government Money Market Portfolio – Initial Class |
| BNY Mellon Technology Growth | Fidelity Government Money Market Portfolio – Service Class II |
| Calvert SRI Balanced | Fidelity Growth |
| Columbia Variable Portfolio - Acorn Fund | Fidelity Growth & Income |
| Columbia VP Select Mid Cap Value Fund - Class 1 | Fidelity Growth Opportunities |
| CVT EAFE International Index Class F | Fidelity Index 500 |
| CVT Investment Grade Bond Index Class I | Fidelity Mid Cap II |
| CVT Nasdaq-100 Index Class I | Fidelity Overseas II |
| CVT Russell 2000 Small Cap Index Class F | Franklin Allocation VIP Fund - Class 2 |
| CVT S&P MidCap 400 Index Class F | Franklin DynaTech VIP Fund - Class 2 |
| DWS CROCI International VIP – Class A | Franklin Income VIP Fund - Class 2 |
| DWS Global Income Builder VIP A | Franklin Mutual Shares VIP Fund - Class 2 |
| DWS Small Cap Index A Share | Franklin Small Cap Value VIP Fund - Class 2 |
| Federated Hermes High Income Bond | Franklin Small-Mid Cap Growth VIP Fund - Class 2 |
| Federated Hermes Managed Volatility II | Franklin U.S. Government Securities VIP Fund - Class 2 |
| Fidelity Asset Manager 50% Portfolio | Invesco American Franchise Fund I |
| Fidelity Contrafund | Invesco American Franchise Fund II |
| Fidelity Contrafund II | Invesco Discovery Mid Cap Growth Fund I |
| Fidelity Equity-Income | Invesco Discovery Mid Cap Growth Fund II |
| Fidelity Freedom Funds 2010 II | Invesco EQV International Equity I |
| Fidelity Freedom Funds 2015 II | Invesco EQV International Equity II |
| Fidelity Freedom Funds 2020 II | Invesco Global Real Estate |

---

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| |
|:---|
| Symetra Separate Account C |
| **Report of Independent Registered Public Accounting Firm (Continued)** |

---

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| | |
|:---|:---|
| Invesco Health Care | Neuberger Berman AMT Quality Equity Class S |
| Invesco Small Cap Equity II | PIMCO All Asset Portfolio Advisor |
| LVIP American Century Balanced Fund Standard Class II | PIMCO CommodityRealReturn Strat. Administrative Class |
| LVIP American Century Inflation Protection Fund Service | PIMCO Total Return Portfolio Advisor |
| LVIP American Century International Fund Standard Class II | Templeton Developing Markets VIP Fund - Class 2 |
| LVIP American Century Large Company Value Fund Service | Templeton Global Bond VIP Fund - Class 2 |
| LVIP American Century Ultra Fund Service Class | Templeton Growth VIP Fund - Class 2 |
| LVIP American Century Ultra Fund Standard Class II | Vanguard Balanced |
| LVIP American Century Value Fund Standard Class II | Vanguard High Yield Bond |
| LVIP JPMorgan Mid Cap Value Fund - Standard Class | Vanguard International |
| LVIP JPMorgan U.S. Equity Fund - Standard Class | Vanguard Mid-Cap Index |
| Morningstar Aggressive Growth ETF Asset Allocation Class I | Vanguard Real Estate Index |
| Morningstar Aggressive Growth ETF Asset Allocation Class II | Vanguard Total Bond Market Index |
| Morningstar Balanced ETF Asset Allocation Class I | Vanguard Total Stock Market Index |
| Morningstar Balanced ETF Asset Allocation Class II | Victory Pioneer Bond VCT Class I |
| Morningstar Conservative ETF Asset Allocation Class I | Victory Pioneer Equity Income VCT Class II |
| Morningstar Conservative ETF Asset Allocation Class II | Victory Pioneer Fund VCT Class I |
| Morningstar Growth ETF Asset Allocation Class I | Victory Pioneer High Yield VCT Class II |
| Morningstar Growth ETF Asset Allocation Class II | Victory Pioneer Mid Cap Value VCT Class I |
| Morningstar Income & Growth ETF Asset Allocation Class I | Victory Pioneer Select Mid Cap Growth VCT Class I |
| Morningstar Income & Growth ETF Asset Allocation Class II | Victory Pioneer Strategic Income VCT Class II |
| Neuberger Berman AMT Mid Cap Growth Class S | Voya Global High Dividend Low Volatility Portfolio – Class S |
| Neuberger Berman AMT Mid Cap Intrinsic Value Class S | VY JPMorgan Emerging Markets Equity Portfolio Initial |

---

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| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Assets and Liabilities** |
| **As of December 31, 2025** |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Number of Shares Owned** | **Investments at Cost** | **Investments at Fair Value** | **Net Assets** | **Accumulation Units Outstanding** |
| BNY Mellon Appreciation | 97347 | $3381822 | $3277692 | $3277692 | 73488 |
| BNY Mellon MidCap Stock | 253609 | 4649405 | 5158402 | 5158402 | 114184 |
| BNY Mellon Stock Index | 114472 | 6685320 | 10007171 | 10007171 | 133916 |
| BNY Mellon Sustainable U.S. Equity | 42380 | 1651249 | 2479206 | 2479206 | 74463 |
| BNY Mellon Technology Growth | 159647 | 3246362 | 3548942 | 3548942 | 107286 |
| Calvert SRI Balanced | 137638 | 317551 | 392268 | 392268 | 12800 |
| Columbia Variable Portfolio - Acorn Fund<sup>1</sup> | 974 | 11506 | 15491 | 15491 | 110 |
| CVT EAFE International Index Class F | 3393 | 308551 | 410426 | 410426 | 27861 |
| CVT Investment Grade Bond Index Class I | 35133 | 1851631 | 1731698 | 1731698 | 137138 |
| CVT Nasdaq-100 Index Class I | 17493 | 1880965 | 3463219 | 3463219 | 31217 |
| CVT Russell 2000 Small Cap Index Class F | 8865 | 691461 | 790033 | 790033 | 25773 |
| CVT S&P Midcap 400 Index Class F | 5397 | 596573 | 682852 | 682852 | 18932 |
| DWS CROCI International VIP - Class A | 129885 | 862429 | 1353405 | 1353405 | 46073 |
| DWS Global Income Builder VIP A | 245246 | 5350785 | 5481242 | 5481242 | 114634 |
| DWS Small Cap Index A Share | 11875 | 189380 | 178372 | 178372 | 5267 |
| Federated Hermes High Income Bond | 127312 | 732576 | 735872 | 735872 | 20079 |
| Federated Hermes Managed Volatility II | 36975 | 353007 | 384547 | 384547 | 10360 |
| Fidelity Asset Manager 50% Portfolio<sup>1</sup> | 4301 | 65105 | 75798 | 75798 | 2408 |
| Fidelity Contrafund | 522767 | 23486310 | 31308430 | 31308430 | 290205 |
| Fidelity Equity-Income | 126669 | 3048589 | 3727897 | 3727897 | 68570 |
| Fidelity Freedom Funds 2010 II | 12316 | 145617 | 148165 | 148165 | 8001 |
| Fidelity Freedom Funds 2015 II | 8569 | 115286 | 101890 | 101890 | 5074 |
| Fidelity Freedom Funds 2020 II | 29832 | 406133 | 391695 | 391695 | 18332 |
| Fidelity Freedom Funds 2025 II | 40154 | 612240 | 685044 | 685044 | 29042 |
| Fidelity Freedom Funds 2030 II | 96776 | 1503441 | 1696476 | 1696476 | 68205 |
| Fidelity Freedom Funds 2050 II | 1376 | 25392 | 37727 | 37727 | 952 |
| Fidelity Freedom Income Fund II | 5933 | 68050 | 69014 | 69014 | 4594 |
| Fidelity Government Money Market Portfolio - Initial Class | 29988 | 29988 | 29988 | 29988 | 2917 |
| Fidelity Government Money Market Portfolio - Service Class II | 5487019 | 5487019 | 5487019 | 5487019 | 526720 |
| Fidelity Growth | 168050 | 14988171 | 16421952 | 16421952 | 305055 |
| Fidelity Growth & Income | 169558 | 4021812 | 5654744 | 5654744 | 111296 |

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SEE NOTES TO FINANCIAL STATEMENTS

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| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Assets and Liabilities (continued)** |
| **As of December 31, 2025** |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Number of Shares Owned** | **Investments at Cost** | **Investments at Fair Value** | **Net Assets** | **Accumulation Units Outstanding** |
| Fidelity Growth Opportunities | 55108 | $2730575 | $5493640 | $5493640 | 62945 |
| Fidelity Index 500 | 2522 | 1006741 | 1666084 | 1666084 | 33345 |
| Fidelity Mid Cap II | 87918 | 3058475 | 3092088 | 3092088 | 61916 |
| Fidelity Overseas II | 5677 | 140902 | 153965 | 153965 | 9135 |
| Franklin Allocation VIP Fund - Class 2 | 56913 | 277187 | 315296 | 315296 | 15238 |
| Franklin DynaTech VIP Fund - Class 2 | 68115 | 222334 | 448199 | 448199 | 7425 |
| Franklin Income VIP Fund - Class 2 | 158284 | 2314182 | 2399552 | 2399552 | 90735 |
| Franklin Mutual Shares VIP Fund - Class 2 | 179980 | 2912984 | 2897664 | 2897664 | 91952 |
| Franklin Small Cap Value VIP Fund - Class 2 | 211832 | 2608506 | 2938111 | 2938111 | 72989 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | 178534 | 2554260 | 2554828 | 2554828 | 88918 |
| Franklin U.S. Government Securities VIP Fund - Class 2 | 244808 | 2815604 | 2570469 | 2570469 | 168106 |
| Invesco American Franchise Fund I | 74463 | 4563105 | 6031507 | 6031507 | 133748 |
| Invesco American Franchise Fund II | 8182 | 398278 | 588690 | 588690 | 11074 |
| Invesco Discovery Mid Cap Growth Fund I | 2268 | 170465 | 170488 | 170488 | 2978 |
| Invesco Discovery Mid Cap Growth Fund II | 4251 | 271111 | 269660 | 269660 | 8463 |
| Invesco EQV International Equity I | 9757 | 333508 | 352367 | 352367 | 8324 |
| Invesco EQV International Equity II | 85702 | 2905591 | 3032983 | 3032983 | 147286 |
| Invesco Global Real Estate | 89964 | 1408269 | 1273891 | 1273891 | 36309 |
| Invesco Health Care | 8000 | 222230 | 239131 | 239131 | 5074 |
| Invesco Small Cap Equity II | 14973 | 252428 | 266966 | 266966 | 8541 |
| LVIP American Century Balanced Fund Standard Class II | 688044 | 5243765 | 6223362 | 6223362 | 186490 |
| LVIP American Century Inflation Protection Fund Service | 152139 | 1533326 | 1374725 | 1374725 | 100847 |
| LVIP American Century International Fund Standard Class II | 300953 | 3290448 | 3685166 | 3685166 | 185223 |
| LVIP American Century Large Company Value Fund Service | 17575 | 293648 | 359308 | 359308 | 10941 |
| LVIP American Century Ultra Fund Service Class | 13545 | 328758 | 405859 | 405859 | 5397 |
| LVIP American Century Ultra Fund Standard Class II | 14321 | 306920 | 451066 | 451066 | 4788 |
| LVIP American Century Value Fund Standard Class II | 162306 | 1828118 | 2096838 | 2096838 | 43758 |
| LVIP JPMorgan Mid Cap Value Fund - Standard Class | 414183 | 4162155 | 3732616 | 3732616 | 59828 |
| LVIP JPMorgan U.S. Equity Fund - Standard Class | 58709 | 1844751 | 2898347 | 2898347 | 58173 |
| Morningstar Aggressive Growth ETF Asset Allocation Class I | 11568 | 150267 | 199991 | 199991 | 7753 |
| Morningstar Aggressive Growth ETF Asset Allocation Class II | 75509 | 966864 | 1285923 | 1285923 | 48706 |

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SEE NOTES TO FINANCIAL STATEMENTS

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| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Assets and Liabilities (continued)** |
| **As of December 31, 2025** |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Number of Shares Owned** | **Investments at Cost** | **Investments at Fair Value** | **Net Assets** | **Accumulation Units Outstanding** |
| Morningstar Balanced ETF Asset Allocation Class I | 32104 | $349645 | $354739 | $354739 | 16849 |
| Morningstar Balanced ETF Asset Allocation Class II | 244845 | 2603177 | 2754491 | 2754491 | 135637 |
| Morningstar Conservative ETF Asset Allocation Class I | 70635 | 777475 | 768511 | 768511 | 50786 |
| Morningstar Conservative ETF Asset Allocation Class II | 11122 | 119107 | 120227 | 120227 | 9011 |
| Morningstar Growth ETF Asset Allocation Class I | 9392 | 106603 | 128675 | 128675 | 5394 |
| Morningstar Growth ETF Asset Allocation Class II | 156689 | 1745095 | 2091796 | 2091796 | 87373 |
| Morningstar Income & Growth ETF Asset Allocation Class I | 5581 | 54606 | 53520 | 53520 | 3045 |
| Morningstar Income & Growth ETF Asset Allocation Class II | 47169 | 491201 | 491018 | 491018 | 29543 |
| Neuberger Berman AMT Mid Cap Growth Class S | 16230 | 411548 | 389853 | 389853 | 10582 |
| Neuberger Berman AMT Mid Cap Intrinsic Value Class S | 1439 | 26738 | 29935 | 29935 | 1177 |
| Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | 4158 | 133499 | 178041 | 178041 | 4086 |
| PIMCO All Asset Portfolio Advisor | 17915 | 181169 | 174845 | 174845 | 8377 |
| PIMCO CommodityRealReturn Strat. Administrative Class | 119318 | 786093 | 750511 | 750511 | 80875 |
| PIMCO Total Return Portfolio Advisor | 1283 | 11838 | 12120 | 12120 | 947 |
| Templeton Developing Markets VIP Fund - Class 2 | 102870 | 960071 | 1242651 | 1242651 | 33236 |
| Templeton Global Bond VIP Fund - Class 2 | 110084 | 1645241 | 1449824 | 1449824 | 97670 |
| Templeton Growth VIP Fund - Class 2 | 178522 | 1982038 | 2526070 | 2526070 | 98214 |
| Vanguard Balanced | 11325 | 266556 | 287746 | 287746 | 8489 |
| Vanguard High Yield Bond | 70515 | 533451 | 532384 | 532384 | 25285 |
| Vanguard International | 21528 | 601474 | 615464 | 615464 | 25005 |
| Vanguard Mid-Cap Index | 29054 | 752829 | 812351 | 812351 | 22516 |
| Vanguard Real Estate Index | 13385 | 176153 | 154872 | 154872 | 8203 |
| Vanguard Total Bond Market Index | 123838 | 1336563 | 1337455 | 1337455 | 109115 |
| Vanguard Total Stock Market Index | 33329 | 1663680 | 2030805 | 2030805 | 42107 |
| Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> | 134651 | 1440013 | 1315536 | 1315536 | 30985 |
| Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> | 210088 | 2828001 | 2598772 | 2598772 | 68853 |
| Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> | 2510329 | 36949196 | 49327978 | 49327978 | 167114 |
| Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> | 66261 | 571699 | 567205 | 567205 | 26660 |
| Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> | 381046 | 4023543 | 4340120 | 4340120 | 60190 |
| Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> | 1205803 | 30822312 | 35366158 | 35366158 | 172670 |

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SEE NOTES TO FINANCIAL STATEMENTS

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| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Assets and Liabilities (continued)** |
| **As of December 31, 2025** |

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Number of Shares Owned** | **Investments at Cost** | **Investments at Fair Value** | **Net Assets** | **Accumulation Units Outstanding** |
| Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> | 190310 | $1826220 | $1783211 | $1783211 | 96810 |
| Voya Global High Dividend Low Volatility Portfolio - Class S | 34679 | 358454 | 418911 | 418911 | 7321 |
| VY JPMorgan Emerging Markets Equity Portfolio Initial | 29855 | 441354 | 411694 | 411694 | 9987 |

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<sup>1</sup>Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

SEE NOTES TO FINANCIAL STATEMENTS

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| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets** |
| **Year Ended December 31, 2025** |

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2025** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of<br>December 31,<br> 2025** |
| BNY Mellon Appreciation | $**3399128** | $12289 | $(41701) | $(5093) | $**(34505)** | $(85361) | $513949 | $(120487) | $**308101** | $**273596** | $25725 | $(420757) | $**(395032)** | $**(121436)** | $**3277692** |
| BNY Mellon MidCap Stock | **5421189** | 36628 | (66005) | (8352) | **(37729)** | 55510 | 476147 | (61769) | **469888** | **432159** | 58733 | (753679) | **(694946)** | **(262787)** | **5158402** |
| BNY Mellon Stock Index | **10004435** | 77223 | (125854) | (16215) | **(64846)** | 774482 | 566689 | 221183 | **1562354** | **1497508** | 158643 | (1653415) | **(1494772)** | **2736** | **10007171** |
| BNY Mellon Sustainable U.S. Equity | **2493209** | 6487 | (31110) | (3767) | **(28390)** | 134500 | 207251 | 17280 | **359031** | **330641** | 28098 | (372742) | **(344644)** | **(14003)** | **2479206** |
| BNY Mellon Technology Growth | **3138349** |  | (40961) | (5024) | **(45985)** | 9470 | 1454113 | (633909) | **829674** | **783689** | 17061 | (390157) | **(373096)** | **410593** | **3548942** |
| Calvert SRI Balanced | **357161** | 6063 | (4607) | (554) | **902** | 1605 | 19888 | 13000 | **34493** | **35395** | 3524 | (3812) | **(288)** | **35107** | **392268** |
| Columbia Variable Portfolio - Acorn Fund<sup>1</sup> | **15464** |  | (187) | (22) | **(209)** | 164 |  | 520 | **684** | **475** |  | (448) | **(448)** | **27** | **15491** |
| CVT EAFE International Index Class F | **337449** | 9840 | (4819) | (731) | **4290** | 7178 |  | 84544 | **91722** | **96012** | 2375 | (25410) | **(23035)** | **72977** | **410426** |
| CVT Investment Grade Bond Index Class I | **1981122** | 55050 | (23190) | (3056) | **28804** | (40771) |  | 107864 | **67093** | **95897** | 39153 | (384474) | **(345321)** | **(249424)** | **1731698** |
| CVT Nasdaq-100 Index Class I | **3255655** | 9036 | (41095) | (5093) | **(37152)** | 315211 | 53023 | 248930 | **617164** | **580012** | 105421 | (477869) | **(372448)** | **207564** | **3463219** |
| CVT Russell 2000 Small Cap Index Class F | **770891** | 11951 | (9385) | (1272) | **1294** | (5192) | 38880 | 36316 | **70004** | **71298** | 28928 | (81084) | **(52156)** | **19142** | **790033** |
| CVT S&P Midcap 400 Index Class F | **695929** | 7585 | (8526) | (1188) | **(2129)** | 9625 | 45662 | (17012) | **38275** | **36146** | 9464 | (58687) | **(49223)** | **(13077)** | **682852** |
| DWS CROCI International VIP - Class A | **1009119** | 31977 | (14811) | (1784) | **15382** | 10441 |  | 394263 | **404704** | **420086** | 6895 | (82695) | **(75800)** | **344286** | **1353405** |
| DWS Global Income Builder VIP A | **5129192** | 236806 | (65887) | (8067) | **162852** | (47826) | 677975 | (89365) | **540784** | **703636** | 50049 | (401635) | **(351586)** | **352050** | **5481242** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2025** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2025** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of<br>December 31,<br> 2025** |
| DWS Small Cap Index A Share | $**161095** | $2190 | $(1672) | $(373) | $**145** | $(523) | $9350 | $9112 | $**17939** | $**18084** | $— | $(807) | $**(807)** | $**17277** | $**178372** |
| Federated Hermes High Income Bond | **771422** | 45534 | (9365) | (1150) | **35019** | (15820) |  | 29655 | **13835** | **48854** | 10473 | (94877) | **(84404)** | **(35550)** | **735872** |
| Federated Hermes Managed Volatility II | **399163** | 11053 | (4706) | (565) | **5782** | (1208) | 6743 | 8717 | **14252** | **20034** | 1940 | (36590) | **(34650)** | **(14616)** | **384547** |
| Fidelity Asset Manager 50% Portfolio<sup>1</sup> | **80564** | 1826 | (1042) | (125) | **659** | 2841 | 3789 | 3327 | **9957** | **10616** | 366 | (15748) | **(15382)** | **(4766)** | **75798** |
| Fidelity Contrafund | **30749182** | 42086 | (389727) | (48075) | **(395716)** | 2577728 | 4880688 | (1340508) | **6117908** | **5722192** | 341715 | (5504659) | **(5162944)** | **559248** | **31308430** |
| Fidelity Equity-Income | **3799268** | 65208 | (47967) | (5834) | **11407** | 164255 | 204380 | 234457 | **603092** | **614499** | 37771 | (723641) | **(685870)** | **(71371)** | **3727897** |
| Fidelity Freedom Funds 2010 II | **468916** | 5522 | (5582) | (670) | **(730)** | (57132) | 5902 | 88515 | **37285** | **36555** |  | (357306) | **(357306)** | **(320751)** | **148165** |
| Fidelity Freedom Funds 2015 II | **96558** | 2749 | (1224) | (147) | **1378** | (1271) | 3702 | 5607 | **8038** | **9416** |  | (4084) | **(4084)** | **5332** | **101890** |
| Fidelity Freedom Funds 2020 II | **383433** | 9668 | (4848) | (598) | **4222** | (9735) | 21191 | 26659 | **38115** | **42337** | 26614 | (60689) | **(34075)** | **8262** | **391695** |
| Fidelity Freedom Funds 2025 II | **850287** | 15504 | (8422) | (1033) | **6049** | 59239 | 23300 | (3582) | **78957** | **85006** | 11155 | (261404) | **(250249)** | **(165243)** | **685044** |
| Fidelity Freedom Funds 2030 II | **1641675** | 35392 | (20978) | (2517) | **11897** | 68106 | 74447 | 58596 | **201149** | **213046** | 209470 | (367715) | **(158245)** | **54801** | **1696476** |
| Fidelity Freedom Funds 2050 II | **31969** | 431 | (435) |  | **(4)** | 219 | 2266 | 3276 | **5761** | **5757** |  | 1 | **1** | **5758** | **37727** |
| Fidelity Freedom Income Fund II | **95741** | 2220 | (1163) | (163) | **894** | 1300 | 26 | 5248 | **6574** | **7468** | 16 | (34211) | **(34195)** | **(26727)** | **69014** |
| Fidelity Government Money Market Portfolio - Initial Class | **79329** | 4459 | (1022) | (228) | **3209** |  |  |  | **—** | **3209** | 1251757 | (1304307) | **(52550)** | **(49341)** | **29988** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2025** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2025** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of<br>December 31,<br> 2025** |
| Fidelity Government Money Market Portfolio - Service Class II | $**6069759** | $222415 | $(73253) | $(8969) | $**140193** | $— | $— | $— | $**—** | $**140193** | $297254 | $(1020187) | $**(722933)** | $**(582740)** | $**5487019** |
| Fidelity Growth | **16867459** | 45496 | (202711) | (24797) | **(182012)** | 856778 | 2037961 | (812749) | **2081990** | **1899978** | 77339 | (2422824) | **(2345485)** | **(445507)** | **16421952** |
| Fidelity Growth & Income | **5187634** | 81438 | (67300) | (8460) | **5678** | 316271 | 494660 | 164635 | **975566** | **981244** | 95006 | (609140) | **(514134)** | **467110** | **5654744** |
| Fidelity Growth Opportunities | **5031880** |  | (64905) | (7880) | **(72785)** | 417597 | 82116 | 561770 | **1061483** | **988698** | 18215 | (545153) | **(526938)** | **461760** | **5493640** |
| Fidelity Index 500 | **1434520** | 17744 | (15534) | (3086) | **(876)** | 8228 | 7761 | 218934 | **234923** | **234047** |  | (2483) | **(2483)** | **231564** | **1666084** |
| Fidelity Mid Cap II | **3456486** | 7297 | (39728) | (4991) | **(37422)** | 17151 | 374699 | (65277) | **326573** | **289151** | 61745 | (715294) | **(653549)** | **(364398)** | **3092088** |
| Fidelity Overseas II | **168463** | 2116 | (1996) | (239) | **(119)** | 13361 | 13866 | 732 | **27959** | **27840** | 2245 | (44583) | **(42338)** | **(14498)** | **153965** |
| Franklin Allocation VIP Fund - Class 2 | **280888** | 5732 | (3602) | (432) | **1698** | (5403) | 12101 | 21901 | **28599** | **30297** | 27782 | (23671) | **4111** | **34408** | **315296** |
| Franklin DynaTech VIP Fund - Class 2 | **399195** |  | (5201) | (627) | **(5828)** | 11343 |  | 60002 | **71345** | **65517** | 790 | (17303) | **(16513)** | **49004** | **448199** |
| Franklin Income VIP Fund - Class 2 | **2693335** | 138158 | (32286) | (4033) | **101839** | (31963) | 29040 | 168697 | **165774** | **267613** | 37440 | (598836) | **(561396)** | **(293783)** | **2399552** |
| Franklin Mutual Shares VIP Fund - Class 2 | **2874280** | 56620 | (35651) | (4377) | **16592** | (62998) | 278966 | 40154 | **256122** | **272714** | 57493 | (306823) | **(249330)** | **23384** | **2897664** |
| Franklin Small Cap Value VIP Fund - Class 2 | **3312179** | 34358 | (38206) | (4740) | **(8588)** | 13292 | 267963 | (99181) | **182074** | **173486** | 77197 | (624751) | **(547554)** | **(374068)** | **2938111** |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | **2784047** |  | (33508) | (4048) | **(37556)** | (60223) | 153184 | (21739) | **71222** | **33666** | 31773 | (294658) | **(262885)** | **(229219)** | **2554828** |
| Franklin U.S. Government Securities VIP Fund - Class 2 | **2694194** | 87871 | (33284) | (4236) | **50351** | (62884) |  | 147369 | **84485** | **134836** | 95367 | (353928) | **(258561)** | **(123725)** | **2570469** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2025** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2025** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of<br>December 31,<br> 2025** |
| Invesco American Franchise Fund I | $**5976136** | $— | $(73324) | $(8872) | $**(82196)** | $198619 | $553422 | $(93883) | $**658158** | $**575962** | $22804 | $(543395) | $**(520591)** | $**55371** | $**6031507** |
| Invesco American Franchise Fund II | **685706** |  | (7534) | (913) | **(8447)** | (26262) | 57294 | 22101 | **53133** | **44686** | 40836 | (182538) | **(141702)** | **(97016)** | **588690** |
| Invesco Discovery Mid Cap Growth Fund I | **165985** |  | (2090) | (253) | **(2343)** | (189) | 14221 | (6133) | **7899** | **5556** |  | (1053) | **(1053)** | **4503** | **170488** |
| Invesco Discovery Mid Cap Growth Fund II | **284211** |  | (3409) | (418) | **(3827)** | (11886) | 26890 | (2830) | **12174** | **8347** | 8487 | (31385) | **(22898)** | **(14551)** | **269660** |
| Invesco EQV International Equity I | **371066** | 5501 | (4911) | (598) | **(8)** | 768 | 24415 | 29953 | **55136** | **55128** | 12401 | (86228) | **(73827)** | **(18699)** | **352367** |
| Invesco EQV International Equity II | **2941638** | 35987 | (38429) | (4690) | **(7132)** | (40188) | 196380 | 264271 | **420463** | **413331** | 103817 | (425803) | **(321986)** | **91345** | **3032983** |
| Invesco Global Real Estate | **1323322** | 26435 | (16624) | (2091) | **7720** | (26389) |  | 101302 | **74913** | **82633** | 39074 | (171138) | **(132064)** | **(49431)** | **1273891** |
| Invesco Health Care | **234847** |  | (2933) | (360) | **(3293)** | (4420) | 9258 | 28091 | **32929** | **29636** | 280 | (25632) | **(25352)** | **4284** | **239131** |
| Invesco Small Cap Equity II | **212614** |  | (2790) | (334) | **(3124)** | 1268 | 13560 | (1051) | **13777** | **10653** | 102092 | (58393) | **43699** | **54352** | **266966** |
| LVIP American Century Balanced Fund Standard Class II | **6506302** | 116246 | (79624) | (10060) | **26562** | 210605 |  | 261102 | **471707** | **498269** | 116046 | (897255) | **(781209)** | **(282940)** | **6223362** |
| LVIP American Century Inflation Protection Fund Service | **1395175** | 100762 | (17506) | (2172) | **81084** | (11358) |  | (3454) | **(14812)** | **66272** | 51190 | (137912) | **(86722)** | **(20450)** | **1374725** |
| LVIP American Century International Fund Standard Class II | **3773285** | 44923 | (49030) | (6011) | **(10118)** | 143644 |  | 396232 | **539876** | **529758** | 78056 | (695933) | **(617877)** | **(88119)** | **3685166** |
| LVIP American Century Large Company Value Fund Service | **443769** | 4876 | (5036) | (615) | **(775)** | 34243 | 24498 | (11455) | **47286** | **46511** | 6469 | (137441) | **(130972)** | **(84461)** | **359308** |
| LVIP American Century Ultra Fund Service Class | **409568** |  | (4828) | (616) | **(5444)** | 10498 | 33219 | 1901 | **45618** | **40174** | 21871 | (65754) | **(43883)** | **(3709)** | **405859** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2025** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2025** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of<br>December 31,<br> 2025** |
| LVIP American Century Ultra Fund Standard Class II | $**442212** | $— | $(5351) | $(684) | $**(6035)** | $20387 | $35669 | $(5075) | $**50981** | $**44946** | $4895 | $(40987) | $**(36092)** | $**8854** | $**451066** |
| LVIP American Century Value Fund Standard Class II | **2047110** | 32462 | (25789) | (3253) | **3420** | 51069 | 155758 | 65857 | **272684** | **276104** | 51830 | (278206) | **(226376)** | **49728** | **2096838** |
| LVIP JPMorgan Mid Cap Value Fund - Standard Class | **4063851** | 42374 | (49118) | (6044) | **(12788)** | (96948) | 417862 | (185200) | **135714** | **122926** | 95079 | (549240) | **(454161)** | **(331235)** | **3732616** |
| LVIP JPMorgan U.S. Equity Fund - Standard Class | **2788334** | 12717 | (35035) | (4656) | **(26974)** | 111388 | 80751 | 172668 | **364807** | **337833** | 4915 | (232735) | **(227820)** | **110013** | **2898347** |
| Morningstar Aggressive Growth ETF Asset Allocation Class I | **168460** | 2515 | (1721) | (685) | **109** | 624 | 13053 | 17783 | **31460** | **31569** |  | (38) | **(38)** | **31531** | **199991** |
| Morningstar Aggressive Growth ETF Asset Allocation Class II | **1110251** | 13453 | (14769) | (1772) | **(3088)** | 21302 | 85320 | 96690 | **203312** | **200224** | 42972 | (67524) | **(24552)** | **175672** | **1285923** |
| Morningstar Balanced ETF Asset Allocation Class I | **348964** | 7418 | (3214) | (1193) | **3011** | 2881 | 36930 | (294) | **39517** | **42528** |  | (36753) | **(36753)** | **5775** | **354739** |
| Morningstar Balanced ETF Asset Allocation Class II | **2662836** | 50145 | (34152) | (4114) | **11879** | 18230 | 283557 | 25911 | **327698** | **339577** | 35717 | (283639) | **(247922)** | **91655** | **2754491** |
| Morningstar Conservative ETF Asset Allocation Class I | **714285** | 21634 | (7019) | (1733) | **12882** | (620) |  | 43557 | **42937** | **55819** | 88 | (1681) | **(1593)** | **54226** | **768511** |
| Morningstar Conservative ETF Asset Allocation Class II | **146982** | 3145 | (1712) | (220) | **1213** | (3389) |  | 11793 | **8404** | **9617** | 2060 | (38432) | **(36372)** | **(26755)** | **120227** |
| Morningstar Growth ETF Asset Allocation Class I | **110386** | 2018 | (1120) | (472) | **426** | 349 | 8660 | 8854 | **17863** | **18289** |  |  | **—** | **18289** | **128675** |
| Morningstar Growth ETF Asset Allocation Class II | **2110645** | 28763 | (26361) | (3162) | **(760)** | 45915 | 144432 | 122063 | **312410** | **311650** | 12025 | (342524) | **(330499)** | **(18849)** | **2091796** |
| Morningstar Income & Growth ETF Asset Allocation Class I | **59674** | 1414 | (535) | (225) | **654** | 64 | 4492 | 337 | **4893** | **5547** |  | (11701) | **(11701)** | **(6154)** | **53520** |
| Morningstar Income & Growth ETF Asset Allocation Class II | **613381** | 12878 | (7322) | (902) | **4654** | (5558) | 45236 | 10132 | **49810** | **54464** | 10351 | (187178) | **(176827)** | **(122363)** | **491018** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2025** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2025** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of<br>December 31,<br> 2025** |
| Neuberger Berman AMT Mid Cap Growth Class S | $**389141** | $— | $(5047) | $(606) | $**(5653)** | $(320) | $61361 | $(40954) | $**20087** | $**14434** | $7238 | $(20960) | $**(13722)** | $**712** | $**389853** |
| Neuberger Berman AMT Mid Cap Intrinsic Value Class S | **23156** |  | (320) | (39) | **(359)** | 69 | 2414 | 659 | **3142** | **2783** | 4511 | (515) | **3996** | **6779** | **29935** |
| Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | **149335** |  | (2053) | (249) | **(2302)** | 543 | 10000 | 10340 | **20883** | **18581** | 10434 | (309) | **10125** | **28706** | **178041** |
| PIMCO All Asset Portfolio Advisor | **198949** | 8517 | (2416) | (281) | **5820** | (7313) |  | 24416 | **17103** | **22923** | 1290 | (48317) | **(47027)** | **(24104)** | **174845** |
| PIMCO CommodityRealReturn Strat. Administrative Class | **712246** | 21222 | (9326) | (1138) | **10758** | 19649 |  | 88955 | **108604** | **119362** | 37847 | (118944) | **(81097)** | **38265** | **750511** |
| PIMCO Total Return Portfolio Advisor | **1007** | 276 | (86) |  | **190** | (2) |  | 299 | **297** | **487** | 11231 | (605) | **10626** | **11113** | **12120** |
| Templeton Developing Markets VIP Fund - Class 2 | **944739** | 5889 | (13581) | (1657) | **(9349)** | 4723 | 18379 | 387621 | **410723** | **401374** | 21338 | (124800) | **(103462)** | **297912** | **1242651** |
| Templeton Global Bond VIP Fund - Class 2 | **1422598** |  | (18899) | (2384) | **(21283)** | (71249) |  | 290867 | **219618** | **198335** | 56227 | (227336) | **(171109)** | **27226** | **1449824** |
| Templeton Growth VIP Fund - Class 2 | **2314016** | 21714 | (30284) | (3673) | **(12243)** | (45748) | 186424 | 360618 | **501294** | **489051** | 38111 | (315108) | **(276997)** | **212054** | **2526070** |
| Vanguard Balanced | **254310** | 5599 | (2679) | (706) | **2214** | (466) | 23984 | 11977 | **35495** | **37709** |  | (4273) | **(4273)** | **33436** | **287746** |
| Vanguard High Yield Bond | **819014** | 36124 | (6137) | (1284) | **28703** | 10724 |  | 1364 | **12088** | **40791** | 103592 | (431013) | **(327421)** | **(286630)** | **532384** |
| Vanguard International | **826154** | 4799 | (5934) | (1579) | **(2714)** | (88345) | 32337 | 160424 | **104416** | **101702** | 50663 | (363055) | **(312392)** | **(210690)** | **615464** |
| Vanguard Mid-Cap Index | **825926** | 9639 | (7734) | (2277) | **(372)** | 77595 | 38403 | (39102) | **76896** | **76524** | 203192 | (293291) | **(90099)** | **(13575)** | **812351** |
| Vanguard Real Estate Index | **223784** | 4221 | (1599) | (393) | **2229** | (5965) | 2702 | 2986 | **(277)** | **1952** | 6818 | (77682) | **(70864)** | **(68912)** | **154872** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2025** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2025** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of<br>December 31,<br> 2025** |
| Vanguard Total Bond Market Index | $**1388606** | $47299 | $(15682) | $(3477) | $**28140** | $(47463) | $— | $87393 | $**39930** | $**68070** | $424928 | $(544149) | $**(119221)** | $**(51151)** | $**1337455** |
| Vanguard Total Stock Market Index | **2331212** | 21438 | (18555) | (4788) | **(1905)** | 106521 | 100078 | 77369 | **283968** | **282063** | 76198 | (658668) | **(582470)** | **(300407)** | **2030805** |
| Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> | **1384549** | 61291 | (17038) | (2081) | **42172** | (31719) |  | 90139 | **58420** | **100592** | 16212 | (185817) | **(169605)** | **(69013)** | **1315536** |
| Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> | **2678365** | 52542 | (33250) | (4009) | **15283** | (97205) | 385526 | (59564) | **228757** | **244040** | 41815 | (365448) | **(323633)** | **(79593)** | **2598772** |
| Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> | **44133636** | 205158 | (571153) | (68650) | **(434645)** | 665140 | 6162327 | 2731921 | **9559388** | **9124743** | 151010 | (4081411) | **(3930401)** | **5194342** | **49327978** |
| Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> | **557198** | 32548 | (7083) | (855) | **24610** | (6610) |  | 16991 | **10381** | **34991** | 26796 | (51780) | **(24984)** | **10007** | **567205** |
| Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> | **4639059** | 91143 | (54794) | (6579) | **29770** | (497496) | 353841 | 502574 | **358919** | **388689** | 37224 | (724852) | **(687628)** | **(298939)** | **4340120** |
| Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> | **32403869** |  | (422593) | (50867) | **(473460)** | 592196 | 3644199 | 2081617 | **6318012** | **5844552** | 131233 | (3013496) | **(2882263)** | **2962289** | **35366158** |
| Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> | **1963136** | 83895 | (24109) | (2954) | **56832** | (49426) |  | 163553 | **114127** | **170959** | 79113 | (429997) | **(350884)** | **(179925)** | **1783211** |
| Voya Global High Dividend Low Volatility Portfolio - Class S | **380056** | 8514 | (5112) | (618) | **2784** | 7026 | 49263 | 4941 | **61230** | **64014** | 542 | (25701) | **(25159)** | **38855** | **418911** |
| VY JPMorgan Emerging Markets Equity Portfolio Initial | **307138** | 3537 | (4471) | (537) | **(1471)** | (4690) | 81709 | 38449 | **115468** | **113997** | 1763 | (11204) | **(9441)** | **104556** | **411694** |

---

<sup>1</sup>Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets** |
| **Year Ended December 31, 2024** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2024** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of <br>December 31,<br> 2024** |
| BNY Mellon Appreciation | $**3363378** | $14702 | $(43914) | $(5357) | $**(34569)** | $(32233) | $252644 | $182683 | $**403094** | $**368525** | $41508 | $(374283) | $**(332775)** | $**35750** | $**3399128** |
| BNY Mellon MidCap Stock | **5447782** | 46566 | (69481) | (8779) | **(31694)** | 57724 | 79647 | 469413 | **606784** | **575090** | 67917 | (669600) | **(601683)** | **(26593)** | **5421189** |
| BNY Mellon Stock Index | **8954779** | 88279 | (122074) | (15706) | **(49501)** | 464011 | 613571 | 930080 | **2007662** | **1958161** | 129833 | (1038338) | **(908505)** | **1049656** | **10004435** |
| BNY Mellon Sustainable U.S. Equity | **2286423** | 13768 | (31124) | (3766) | **(21122)** | 100255 | 16390 | 406909 | **523554** | **502432** | 61749 | (357395) | **(295646)** | **206786** | **2493209** |
| BNY Mellon Technology Growth | **2931320** |  | (38447) | (4721) | **(43168)** | 220950 |  | 472328 | **693278** | **650110** | 20021 | (463102) | **(443081)** | **207029** | **3138349** |
| Calvert SRI Balanced | **346128** | 5827 | (4467) | (538) | **822** | 11623 | 6002 | 40001 | **57626** | **58448** | 5934 | (53349) | **(47415)** | **11033** | **357161** |
| CVT EAFE International Index Class F | **336039** | 9440 | (4405) | (669) | **4366** | 3301 |  | (2366) | **935** | **5301** | 17388 | (21279) | **(3891)** | **1410** | **337449** |
| CVT Investment Grade Bond Index Class I | **2178904** | 57718 | (26203) | (3423) | **28092** | (31096) |  | (4875) | **(35971)** | **(7879)** | 57715 | (247618) | **(189903)** | **(197782)** | **1981122** |
| CVT Nasdaq-100 Index Class I | **2856481** | 10226 | (39829) | (4971) | **(34574)** | 315488 | 201048 | 178120 | **694656** | **660082** | 232316 | (493224) | **(260908)** | **399174** | **3255655** |
| CVT Russell 2000 Small Cap Index Class F | **735046** | 9351 | (9374) | (1260) | **(1283)** | (594) | 15127 | 53196 | **67729** | **66446** | 35583 | (66184) | **(30601)** | **35845** | **770891** |
| CVT S&P Midcap 400 Index Class F | **672400** | 8126 | (8763) | (1208) | **(1845)** | 6734 | 29286 | 42447 | **78467** | **76622** | 16797 | (69890) | **(53093)** | **23529** | **695929** |
| DWS CROCI International VIP - Class A | **1221608** | 40419 | (14920) | (1797) | **23702** | (33769) |  | 24407 | **(9362)** | **14340** | 10582 | (237411) | **(226829)** | **(212489)** | **1009119** |
| DWS Global Income Builder VIP A | **5270483** | 185342 | (66066) | (8085) | **111191** | (31204) |  | 304439 | **273235** | **384426** | 36980 | (562697) | **(525717)** | **(141291)** | **5129192** |
| DWS Small Cap Index A Share | **147454** | 1790 | (1606) | (357) | **(173)** | (516) | 4195 | 10861 | **14540** | **14367** |  | (726) | **(726)** | **13641** | **161095** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2024** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2024** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of <br>December 31,<br> 2024** |
| Federated Hermes High Income Bond | $**817982** | $43677 | $(9782) | $(1201) | $**32694** | $(11558) | $— | $14510 | $**2952** | $**35646** | $8447 | $(90653) | $**(82206)** | $**(46560)** | $**771422** |
| Federated Hermes Managed Volatility II | **418631** | 8908 | (5024) | (603) | **3281** | (6801) |  | 55382 | **48581** | **51862** | 1797 | (73127) | **(71330)** | **(19468)** | **399163** |
| Fidelity Asset Manager<sup>1</sup> | **98341** | 2045 | (1087) | (130) | **828** | (108) | 603 | 4542 | **5037** | **5865** | 336 | (23978) | **(23642)** | **(17777)** | **80564** |
| Fidelity Contrafund | **26670424** | 55161 | (381742) | (47034) | **(373615)** | 2446572 | 3482315 | 2630485 | **8559372** | **8185757** | 618803 | (4725802) | **(4106999)** | **4078758** | **30749182** |
| Fidelity Equity-Income | **3670753** | 66606 | (48872) | (5952) | **11782** | 147424 | 218326 | 121481 | **487231** | **499013** | 117916 | (488414) | **(370498)** | **128515** | **3799268** |
| Fidelity Freedom Funds 2010 II | **458026** | 15869 | (5895) | (707) | **9267** | (1986) | 401 | 9135 | **7550** | **16817** |  | (5927) | **(5927)** | **10890** | **468916** |
| Fidelity Freedom Funds 2015 II | **96220** | 2923 | (1209) | (145) | **1569** | (1315) | 2850 | 1278 | **2813** | **4382** |  | (4044) | **(4044)** | **338** | **96558** |
| Fidelity Freedom Funds 2020 II | **334128** | 9932 | (4489) | (542) | **4901** | (846) | 9870 | 4716 | **13740** | **18641** | 57177 | (26513) | **30664** | **49305** | **383433** |
| Fidelity Freedom Funds 2025 II | **759585** | 19206 | (10243) | (1344) | **7619** | 2352 | 1630 | 38683 | **42665** | **50284** | 46434 | (6016) | **40418** | **90702** | **850287** |
| Fidelity Freedom Funds 2030 II | **1597361** | 33355 | (21053) | (2526) | **9776** | 15171 | 3563 | 96446 | **115180** | **124956** | 30240 | (110882) | **(80642)** | **44314** | **1641675** |
| Fidelity Freedom Funds 2050 II | **28510** | 342 | (393) |  | **(51)** | 182 | 582 | 2746 | **3510** | **3459** |  |  | **—** | **3459** | **31969** |
| Fidelity Freedom Income Fund II | **104892** | 3310 | (1223) | (170) | **1917** | (225) | 59 | 763 | **597** | **2514** | 15 | (11680) | **(11665)** | **(9151)** | **95741** |
| Fidelity Government Money Market Portfolio - Initial Class | **86858** | 4377 | (840) | (317) | **3220** |  |  |  | **—** | **3220** | 260 | (11009) | **(10749)** | **(7529)** | **79329** |
| Fidelity Government Money Market Portfolio - Service Class II | **5841672** | 279421 | (74331) | (9168) | **195922** |  |  |  | **—** | **195922** | 1379043 | (1346878) | **32165** | **228087** | **6069759** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2024** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2024** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of <br>December 31,<br> 2024** |
| Fidelity Growth | $**14465115** | $143 | $(205501) | $(25094) | $**(230452)** | $869746 | $3576154 | $(224076) | $**4221824** | $**3991372** | $102130 | $(1691158) | $**(1589028)** | $**2402344** | $**16867459** |
| Fidelity Growth & Income | **4740420** | 72856 | (63861) | (8021) | **974** | 274825 | 331802 | 326496 | **933123** | **934097** | 83740 | (570623) | **(486883)** | **447214** | **5187634** |
| Fidelity Growth Opportunities | **4459356** |  | (62168) | (7558) | **(69726)** | 615201 |  | 991576 | **1606777** | **1537051** | 13482 | (978009) | **(964527)** | **572524** | **5031880** |
| Fidelity Index 500 | **1184080** | 17436 | (13753) | (2806) | **877** | 17247 | 841 | 258172 | **276260** | **277137** |  | (26697) | **(26697)** | **250440** | **1434520** |
| Fidelity Mid Cap II | **3624262** | 11740 | (45164) | (5692) | **(39116)** | 98373 | 463395 | 3317 | **565085** | **525969** | 20235 | (713980) | **(693745)** | **(167776)** | **3456486** |
| Fidelity Overseas II | **168428** | 2417 | (2274) | (278) | **(135)** | 10265 | 7971 | (10920) | **7316** | **7181** | 34860 | (42006) | **(7146)** | **35** | **168463** |
| Franklin Allocation VIP Fund - Class 2 | **284318** | 6085 | (3642) | (437) | **2006** | (9810) |  | 29105 | **19295** | **21301** | 7068 | (31799) | **(24731)** | **(3430)** | **280888** |
| Franklin DynaTech VIP Fund - Class 2 | **609550** |  | (5316) | (638) | **(5954)** | (137318) |  | 268396 | **131078** | **125124** | 25937 | (361416) | **(335479)** | **(210355)** | **399195** |
| Franklin Income VIP Fund - Class 2 | **2688010** | 142645 | (34306) | (4329) | **104010** | (10157) | 11688 | 47037 | **48568** | **152578** | 65106 | (212359) | **(147253)** | **5325** | **2693335** |
| Franklin Mutual Shares VIP Fund - Class 2 | **2963464** | 57423 | (37495) | (4596) | **15332** | (68584) | 59715 | 270560 | **261691** | **277023** | 31519 | (397726) | **(366207)** | **(89184)** | **2874280** |
| Franklin Small Cap Value VIP Fund - Class 2 | **3809407** | 32948 | (43946) | (5459) | **(16457)** | (180729) | 81436 | 451732 | **352439** | **335982** | 64879 | (898089) | **(833210)** | **(497228)** | **3312179** |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | **3024939** |  | (36388) | (4395) | **(40783)** | (107377) |  | 419091 | **311714** | **270931** | 32182 | (544005) | **(511823)** | **(240892)** | **2784047** |
| Franklin U.S. Government Securities VIP Fund - Class 2 | **3080763** | 91691 | (36932) | (4739) | **50020** | (97482) |  | 49772 | **(47710)** | **2310** | 116164 | (505043) | **(388879)** | **(386569)** | **2694194** |
| Invesco American Franchise Fund I | **5167427** |  | (71636) | (8663) | **(80299)** | 263626 |  | 1420497 | **1684123** | **1603824** | 27704 | (822819) | **(795115)** | **808709** | **5976136** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2024** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2024** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of <br>December 31,<br> 2024** |
| Invesco American Franchise Fund II | $**664426** | $— | $(8510) | $(1030) | $**(9540)** | $4164 | $— | $195591 | $**199755** | $**190215** | $14699 | $(183634) | $**(168935)** | $**21280** | $**685706** |
| Invesco Discovery Mid Cap Growth Fund I | **141964** |  | (1959) | (239) | **(2198)** | (1404) |  | 34689 | **33285** | **31087** |  | (7066) | **(7066)** | **24021** | **165985** |
| Invesco Discovery Mid Cap Growth Fund II | **219341** |  | (3339) | (411) | **(3750)** | (8383) |  | 63981 | **55598** | **51848** | 34765 | (21743) | **13022** | **64870** | **284211** |
| Invesco EQV International Equity I | **401628** | 6759 | (4922) | (600) | **1237** | 1520 | 2009 | (6682) | **(3153)** | **(1916)** | 10410 | (39056) | **(28646)** | **(30562)** | **371066** |
| Invesco EQV International Equity II | **3669047** | 48569 | (42835) | (5231) | **503** | (4928) | 16820 | (24802) | **(12910)** | **(12407)** | 81475 | (796477) | **(715002)** | **(727409)** | **2941638** |
| Invesco Global Real Estate | **1615517** | 36019 | (18428) | (2313) | **15278** | (57812) |  | (3752) | **(61564)** | **(46286)** | 30682 | (276591) | **(245909)** | **(292195)** | **1323322** |
| Invesco Health Care | **239839** |  | (3183) | (392) | **(3575)** | 931 |  | 9740 | **10671** | **7096** | 4041 | (16129) | **(12088)** | **(4992)** | **234847** |
| Invesco Small Cap Equity II | **233675** |  | (3012) | (362) | **(3374)** | (1314) | 12222 | 29071 | **39979** | **36605** | 3493 | (61159) | **(57666)** | **(21061)** | **212614** |
| LVIP American Century Balanced Fund Standard Class II | **6559353** | 133608 | (84664) | (10661) | **38283** | 146249 |  | 490895 | **637144** | **675427** | 70098 | (798576) | **(728478)** | **(53051)** | **6506302** |
| LVIP American Century Inflation Protection Fund Service | **1606418** | 53421 | (19033) | (2365) | **32023** | (22636) |  | (6103) | **(28739)** | **3284** | 91032 | (305559) | **(214527)** | **(211243)** | **1395175** |
| LVIP American Century International Fund Standard Class II | **4125494** | 65730 | (51287) | (6302) | **8141** | 28485 |  | 21401 | **49886** | **58027** | 54221 | (464457) | **(410236)** | **(352209)** | **3773285** |
| LVIP American Century Large Company Value Fund Service | **418056** | 10587 | (5480) | (670) | **4437** | 6359 | 7861 | 17987 | **32207** | **36644** | 11469 | (22400) | **(10931)** | **25713** | **443769** |
| LVIP American Century Ultra Fund Service Class | **420644** |  | (5464) | (690) | **(6154)** | 56178 | 37694 | 14612 | **108484** | **102330** | 15685 | (129091) | **(113406)** | **(11076)** | **409568** |
| LVIP American Century Ultra Fund Standard Class II | **418960** |  | (5301) | (671) | **(5972)** | 38029 | 36346 | 32625 | **107000** | **101028** | 2575 | (80351) | **(77776)** | **23252** | **442212** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2024** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2024** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of <br>December 31,<br> 2024** |
| LVIP American Century Value Fund Standard Class II | $**2274943** | $60957 | $(27184) | $(3405) | $**30368** | $77138 | $124934 | $(65639) | $**136433** | $**166801** | $34808 | $(429442) | $**(394634)** | $**(227833)** | $**2047110** |
| LVIP JPMorgan Mid Cap Value Fund - Standard Class | **4109973** | 49909 | (52861) | (6502) | **(9454)** | 17031 | 653352 | (153767) | **516616** | **507162** | 56465 | (609749) | **(553284)** | **(46122)** | **4063851** |
| LVIP JPMorgan U.S. Equity Fund - Standard Class | **2436550** | 13864 | (33999) | (4520) | **(24655)** | 96231 | 117158 | 340387 | **553776** | **529121** | 5114 | (182451) | **(177337)** | **351784** | **2788334** |
| Morningstar Aggressive Growth ETF Asset Allocation Class I | **148694** | 2445 | (1546) | (614) | **285** | 394 | 2400 | 16729 | **19523** | **19808** |  | (42) | **(42)** | **19766** | **168460** |
| Morningstar Aggressive Growth ETF Asset Allocation Class II | **1143263** | 13886 | (14238) | (1706) | **(2058)** | 42229 | 16083 | 83366 | **141678** | **139620** | 21553 | (194185) | **(172632)** | **(33012)** | **1110251** |
| Morningstar Balanced ETF Asset Allocation Class I | **693572** | 7019 | (3677) | (1328) | **2014** | (32640) | 3297 | 55361 | **26018** | **28032** | 1021 | (373661) | **(372640)** | **(344608)** | **348964** |
| Morningstar Balanced ETF Asset Allocation Class II | **2653294** | 46536 | (33429) | (4039) | **9068** | 2926 | 24945 | 182305 | **210176** | **219244** | 53394 | (263096) | **(209702)** | **9542** | **2662836** |
| Morningstar Conservative ETF Asset Allocation Class I | **797299** | 17970 | (7266) | (1867) | **8837** | (10114) |  | 33692 | **23578** | **32415** | 168 | (115597) | **(115429)** | **(83014)** | **714285** |
| Morningstar Conservative ETF Asset Allocation Class II | **114249** | 3366 | (1522) | (187) | **1657** | (2331) |  | 4212 | **1881** | **3538** | 44286 | (15091) | **29195** | **32733** | **146982** |
| Morningstar Growth ETF Asset Allocation Class I | **99128** | 1819 | (1019) | (428) | **372** | 227 | 2159 | 8500 | **10886** | **11258** |  |  | **—** | **11258** | **110386** |
| Morningstar Growth ETF Asset Allocation Class II | **1904461** | 30753 | (25628) | (3075) | **2050** | 4456 | 42319 | 162308 | **209083** | **211133** | 16733 | (21682) | **(4949)** | **206184** | **2110645** |
| Morningstar Income & Growth ETF Asset Allocation Class I | **67150** | 1603 | (612) | (257) | **734** | (468) | 415 | 3544 | **3491** | **4225** |  | (11701) | **(11701)** | **(7476)** | **59674** |
| Morningstar Income & Growth ETF Asset Allocation Class II | **543710** | 13516 | (7252) | (882) | **5382** | (214) | 3919 | 25806 | **29511** | **34893** | 42388 | (7610) | **34778** | **69671** | **613381** |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2024** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2024** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of <br>December 31,<br> 2024** |
| Neuberger Berman AMT Mid Cap Growth Class S | $**360184** | $— | $(4765) | $(573) | $**(5338)** | $2903 | $23603 | $53905 | $**80411** | $**75073** | $5602 | $(51718) | $**(46116)** | $**28957** | $**389141** |
| Neuberger Berman AMT Mid Cap Intrinsic Value Class S | **18398** | 59 | (264) | (32) | **(237)** | 6 | 585 | 1071 | **1662** | **1425** | 3668 | (335) | **3333** | **4758** | **23156** |
| Neuberger Berman AMT Sustainable Equity Class S<sup>1</sup> | **131120** |  | (1767) | (214) | **(1981)** | 1392 | 6738 | 23008 | **31138** | **29157** | 4795 | (15737) | **(10942)** | **18215** | **149335** |
| PIMCO All Asset Portfolio Advisor | **228839** | 13730 | (2749) | (321) | **10660** | (4845) |  | (747) | **(5592)** | **5068** | 2899 | (37857) | **(34958)** | **(29890)** | **198949** |
| PIMCO CommodityRealReturn Strat. Administrative Class | **760648** | 16696 | (9596) | (1168) | **5932** | (17264) |  | 32391 | **15127** | **21059** | 56538 | (125999) | **(69461)** | **(48402)** | **712246** |
| PIMCO Total Return Portfolio Advisor | **329152** | 9324 | (3031) |  | **6293** | (14634) |  | 11282 | **(3352)** | **2941** | 47351 | (378437) | **(331086)** | **(328145)** | **1007** |
| Pioneer Bond VCT Class I<sup>1</sup> | **1470033** | 63282 | (17725) | (2169) | **43388** | (24183) |  | 3991 | **(20192)** | **23196** | 17183 | (125863) | **(108680)** | **(85484)** | **1384549** |
| Pioneer Equity Income VCT Class II<sup>1</sup> | **3257428** | 56690 | (37627) | (4535) | **14528** | (97994) | 553843 | (190509) | **265340** | **279868** | 113591 | (972522) | **(858931)** | **(579063)** | **2678365** |
| Pioneer Fund VCT Class I<sup>1</sup> | **40253044** | 317030 | (557961) | (67060) | **(307991)** | 364509 | 2159931 | 6046025 | **8570465** | **8262474** | 147246 | (4529128) | **(4381882)** | **3880592** | **44133636** |
| Pioneer High Yield VCT Class II<sup>1</sup> | **567410** | 32199 | (7337) | (888) | **23974** | (11713) |  | 27443 | **15730** | **39704** | 51858 | (101774) | **(49916)** | **(10212)** | **557198** |
| Pioneer Mid Cap Value VCT Class I<sup>1</sup> | **4935934** | 92248 | (61146) | (7342) | **23760** | (557740) | 283139 | 700691 | **426090** | **449850** | 44144 | (790869) | **(746725)** | **(296875)** | **4639059** |
| Pioneer Select Mid Cap Growth VCT Class I<sup>1</sup> | **30695360** |  | (404708) | (48702) | **(453410)** | 24371 |  | 6949051 | **6973422** | **6520012** | 123887 | (4935390) | **(4811503)** | **1708509** | **32403869** |
| Pioneer Strategic Income VCT Class II | **2256052** | 87052 | (27446) | (3378) | **56228** | (71881) |  | 71245 | **(636)** | **55592** | 147411 | (495919) | **(348508)** | **(292916)** | **1963136** |
| Templeton Developing Markets VIP Fund - Class 2 | **1065185** | 40018 | (12865) | (1567) | **25586** | 10494 | 7691 | 21118 | **39303** | **64889** | 21200 | (206535) | **(185335)** | **(120446)** | **944739** |

---

SEE NOTES TO FINANCIAL STATEMENTS

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---

| |
|:---|
| **Symetra Separate Account C** |
| **Statements of Operations and Changes in Net Assets (continued)** |
| **Year Ended December 31, 2024** |

---

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Sub-Account** | **Net Assets as of January 1, 2024** | Dividends | Mortality and Expense Risk Charge | Asset-Related Administration Charge | **Net Investment Income (Loss)** | Realized Gain (Loss) on Investments | Net Realized Capital Gain Distributions Received | Net Change in Unrealized Appreciation/Depreciation | **Net Gain (Loss) on Investments** | **Net Increase (Decrease) in Net Assets Resulting from Operations** | Contract Purchase Payments and Transfers In | Contract Terminations, Transfers and Maintenance Charges | **Increase (Decrease) in Net Assets from Contract Transactions** | **Total Increase (Decrease) In Net Assets** | **Net Assets<br> as of <br>December 31,<br> 2024** |
| Templeton Global Bond VIP Fund - Class 2 | $**1899729** | $— | $(21630) | $(2757) | $**(24387)** | $(118377) | $— | $(78892) | $**(197269)** | $**(221656)** | $72504 | $(327979) | $**(255475)** | $**(477131)** | $**1422598** |
| Templeton Growth VIP Fund - Class 2 | **2502547** | 23881 | (31158) | (3771) | **(11048)** | (48212) | 8173 | 153483 | **113444** | **102396** | 50709 | (341636) | **(290927)** | **(188531)** | **2314016** |
| Vanguard Balanced | **242845** | 5936 | (2625) | (729) | **2582** | 3575 | 12840 | 13459 | **29874** | **32456** | 19341 | (40332) | **(20991)** | **11465** | **254310** |
| Vanguard High Yield Bond | **597924** | 34086 | (7092) | (1481) | **25513** | (162) |  | 2930 | **2768** | **28281** | 199931 | (7122) | **192809** | **221090** | **819014** |
| Vanguard International | **765517** | 9763 | (8084) | (1654) | **25** | (37728) | 25846 | 70969 | **59087** | **59112** | 70317 | (68792) | **1525** | **60637** | **826154** |
| Vanguard Mid-Cap Index | **751851** | 11120 | (7912) | (2246) | **962** | 6662 | 9269 | 85392 | **101323** | **102285** | 1625 | (29835) | **(28210)** | **74075** | **825926** |
| Vanguard Real Estate Index | **225318** | 7108 | (2280) | (476) | **4352** | (1039) | 5995 | (986) | **3970** | **8322** | 4327 | (14183) | **(9856)** | **(1534)** | **223784** |
| Vanguard Total Bond Market Index | **1186646** | 32848 | (14394) | (2859) | **15595** | (2480) |  | (9264) | **(11744)** | **3851** | 215703 | (17594) | **198109** | **201960** | **1388606** |
| Vanguard Total Stock Market Index | **1974628** | 27254 | (21395) | (5094) | **765** | 124249 | 149415 | 157020 | **430684** | **431449** | 561992 | (636857) | **(74865)** | **356584** | **2331212** |
| Voya Global High Dividend Low Volatility Portfolio - Class S | **378575** | 9927 | (4988) | (601) | **4338** | 8936 | 13200 | 15240 | **37376** | **41714** | 650 | (40883) | **(40233)** | **1481** | **380056** |
| VY JPMorgan Emerging Markets Equity Portfolio Initial | **407160** | 4441 | (5034) | (604) | **(1197)** | (48671) |  | 60552 | **11881** | **10684** | 4975 | (115681) | **(110706)** | **(100022)** | **307138** |
| Wanger Acorn<sup>1</sup> | **28639** |  | (219) | (26) | **(245)** | 2641 |  | 116 | **2757** | **2512** |  | (15687) | **(15687)** | **(13175)** | **15464** |

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<sup>1</sup>Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

SEE NOTES TO FINANCIAL STATEMENTS

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| |
|:---|
| Symetra Separate Account C |
| **Notes to Financial Statements** |

---

**1. ORGANIZATION**

Symetra Separate Account C (the "Separate Account") is registered under the Investment Company Act of 1940, as amended, as a segregated unit investment trust of Symetra Life Insurance Company ("Symetra Life"), a wholly-owned subsidiary of Symetra Financial Corporation. Purchasers of various Symetra Life variable annuity products direct their investment to one or more of the sub-accounts of the Separate Account through the purchase of accumulation units ("Units"). Under the terms of the registration, the Separate Account is authorized to issue an unlimited number of Units. Each sub-account invests in shares of a designated portfolio of open-ended registered investment companies ("Mutual Funds") as indicated below. Not all sub-accounts are available in all Symetra Life variable annuity products. The performance of the underlying portfolios may differ substantially from publicly traded Mutual Funds with similar names and objectives.

Under applicable insurance law, the assets of the Separate Account are legally segregated and are not subject to claims that arise out of Symetra Life's or Symetra Financial Corporation's other business activities.

The Statements of Operations and Changes in Net Assets are reported for the years or periods ended December 31, 2025 and December 31, 2024 for the following sub-accounts, except as noted in the footnotes to the table below.

Following are the sub-accounts and related Mutual Funds.

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| | |
|:---|:---|
| Sub-Account | Mutual Fund |
|  | BlackRock Variable Series Fund, Inc |
| BlackRock Advantage Large Cap Value V.I. Fund<sup>11</sup> | BlackRock Advantage Large Cap Value V.I. Fund, Class III |
|  | BNY Mellon Variable Investment Fund |
| BNY Mellon Appreciation | BNY Mellon VIF Appreciation Portfolio — Initial Shares |
|  | BNY Mellon Investment Portfolios |
| BNY Mellon MidCap Stock | BNY Mellon IP MidCap Stock Portfolio — Initial Shares |
| BNY Mellon Technology Growth | BNY Mellon IP Technology Growth Portfolio — Initial Shares |
|  | BNY Mellon Stock Index Fund, Inc. |
| BNY Mellon Stock Index | BNY Mellon Stock Index Fund, Inc. — Service Shares |
|  | BNY Mellon Sustainable U.S. Equity Portfolio, Inc. |
| BNY Mellon Sustainable U.S. Equity | BNY Mellon Sustainable U.S. Equity Portfolio Inc. — Initial Shares |
|  | Calvert Variable Series, Inc. |
| Calvert SRI Balanced | Calvert VP SRI Balanced Portfolio |
| CVT EAFE International Index Class F | CVT EAFE International Index Portfolio Class F |
| CVT Investment Grade Bond Index Class I | CVT Investment Grade Bond Index Portfolio Class I |
| CVT Nasdaq-100 Index Class I | CVT Nasdaq-100 Index Portfolio Class I |
| CVT Russell 2000 Small Cap Index Class F | CVT Russell 2000 Small Cap Index Portfolio Class F |
| CVT S&P MidCap 400 Index Class F | CVT S&P MidCap 400 Index Portfolio Class F |
|  | Columbia Funds Variable Insurance Trust |
| Columbia Variable Portfolio - Acorn Fund<sup>9</sup> | Columbia Variable Portfolio - Acorn Fund |
| Columbia VP Select Mid Cap Value Fund - Class 1<sup>12</sup> | Columbia VP Select Mid Cap Value Fund — Class 1 |
|  | DWS Variable Series I and II |
| DWS CROCI International VIP - Class A | DWS CROCI International VIP — Class A Shares |
| DWS Global Income Builder VIP A | DWS Global Income Builder VIP — Class A Shares |
| DWS Small Cap Index A Share | DWS Small Cap Index VIP — Class A Shares |
|  | Federated Insurance Series |
| Federated Hermes High Income Bond | Federated Hermes High Income Bond Fund II |
| Federated Hermes Managed Volatility II | Federated Hermes Managed Volatility Fund II |

---

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| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **1.** | **ORGANIZATION (continued)** |

---

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| | |
|:---|:---|
| Sub-Account | Mutual Fund |
|  | Fidelity Variable Insurance Products Fund 1 (VIP) |
| Fidelity Asset Manager 50% Portfolio<sup>8</sup> | VIP Asset Manager 50% Portfolio — Initial Class |
| Fidelity Contrafund | VIP Contrafund® Portfolio — Initial Class |
| Fidelity Contrafund II<sup>12</sup> | VIP Contrafund® Portfolio — Service Class 2 |
| Fidelity Equity-Income | VIP Equity-Income Portfolio — Initial Class |
| Fidelity Freedom Funds 2010 II | VIP Freedom Funds 2010 Portfolio — Service Class 2 |
| Fidelity Freedom Funds 2015 II | VIP Freedom Funds 2015 Portfolio — Service Class 2 |
| Fidelity Freedom Funds 2020 II | VIP Freedom Funds 2020 Portfolio — Service Class 2 |
| Fidelity Freedom Funds 2025 II | VIP Freedom Funds 2025 Portfolio — Service Class 2 |
| Fidelity Freedom Funds 2030 II | VIP Freedom Funds 2030 Portfolio — Service Class 2 |
| Fidelity Freedom Funds 2050 II | VIP Freedom Funds 2050 Portfolio — Service Class 2 |
| Fidelity Freedom Income Fund II | VIP Freedom Income Portfolio — Service Class 2 |
| Fidelity Government Money Market Portfolio - Initial Class | VIP Government Money Market Portfolio — Initial Class |
| Fidelity Government Money Market Portfolio - Service Class II | VIP Government Money Market Portfolio — Service Class II |
| Fidelity Growth | VIP Growth Portfolio — Initial Class |
| Fidelity Growth & Income | VIP Growth & Income Portfolio — Initial Class |
| Fidelity Growth Opportunities | VIP Growth Opportunities Portfolio — Initial Class |
| Fidelity Index 500 | VIP Index 500 Portfolio — Initial Class |
| Fidelity Mid Cap II | VIP Mid Cap Portfolio — Service Class II |
| Fidelity Overseas II | VIP Overseas Portfolio — Service Class 2 |
|  | Franklin Templeton Variable Insurance Products Trust |
| Franklin Allocation VIP Fund - Class 2 | Franklin Allocation VIP Fund - Class 2 |
| Franklin DynaTech VIP Fund - Class 2 | Franklin DynaTech VIP Fund - Class 2 |
| Franklin Income VIP Fund - Class 2 | Franklin Income VIP Fund - Class 2 |
| Franklin Mutual Shares VIP Fund - Class 2 | Franklin Mutual shares VIP Fund - Class 2 |
| Franklin Small Cap Value VIP Fund - Class 2 | Franklin Small Cap Value VIP Fund - Class 2 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | Franklin Small-Mid Cap Growth VIP Fund - Class 2 |
| Franklin U.S. Government Securities VIP Fund - Class 2 | Franklin U.S. Government Securities VIP Fund - Class 2 |
|  | AIM Variable Insurance Funds, Inc (Invesco Variable Insurance Funds) |
| Invesco American Franchise Fund I | Invesco V.I. American Franchise Fund - Series I |
| Invesco American Franchise Fund II | Invesco V.I. American Franchise Fund - Series II |
| Invesco Discovery Mid Cap Growth Fund I | Invesco V.I. Discovery Mid Cap Growth Fund - Series I |
| Invesco Discovery Mid Cap Growth Fund II | Invesco V.I. Discovery Mid Cap Growth Fund - Series II |
| Invesco EQV International Equity I | Invesco V.I. EQV International Equity Fund - Series I |
| Invesco EQV International Equity II | Invesco V.I. EQV International Equity Fund - Series II |
| Invesco Global Real Estate | Invesco V.I. Global Real Estate Fund - Series I |
| Invesco Health Care | Invesco V.I. Health Care Fund - Series I |
| Invesco Small Cap Equity II | Invesco V.I. Small Cap Equity Fund - Series II |
|  | Lincoln Investment Advisors |
| LVIP American Century Balanced Fund Standard Class II | LVIP American Century Balanced Fund Standard Class II |
| LVIP American Century Inflation Protection Fund Service | LVIP American Century Inflation Protection Fund Service Class |

---

------

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| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **1.** | **ORGANIZATION (continued)** |

---

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| | |
|:---|:---|
| Sub-Account | Mutual Fund |
|  | Lincoln Investment Advisors |
| LVIP American Century International Fund Standard Class II | LVIP American Century International Fund Standard Class II |
| LVIP American Century Large Company Value Fund Service | LVIP American Century Large Company Value Fund Service Class |
| LVIP American Century Ultra Fund Service Class | LVIP American Century Ultra Fund Service Class |
| LVIP American Century Ultra Fund Standard Class II | LVIP American Century Ultra Fund Standard Class II |
| LVIP American Century Value Fund Standard Class II | LVIP American Century Value Fund Standard Class II |
| LVIP JPMorgan Mid Cap Value Fund - Standard Class | LVIP JPMorgan Mid Cap Value Fund - Standard Class |
| LVIP JPMorgan U.S. Equity Fund - Standard Class | LVIP JPMorgan U.S. Equity Fund - Standard Class |
|  | ALPS Variable Investment Trust |
| Morningstar Aggressive Growth ETF Asset Allocation Class I | Morningstar Aggressive Growth ETF Asset Allocation Portfolio — Class I |
| Morningstar Aggressive Growth ETF Asset Allocation Class II | Morningstar Aggressive Growth ETF Asset Allocation Portfolio — Class II |
| Morningstar Balanced ETF Asset Allocation Class I | Morningstar Balanced ETF Asset Allocation Portfolio — Class I |
| Morningstar Balanced ETF Asset Allocation Class II | Morningstar Balanced ETF Asset Allocation Portfolio — Class II |
| Morningstar Conservative ETF Asset Allocation Class I | Morningstar Conservative ETF Asset Allocation Portfolio — Class I |
| Morningstar Conservative ETF Asset Allocation Class II | Morningstar Conservative ETF Asset Allocation Portfolio — Class II |
| Morningstar Growth ETF Asset Allocation Class I | Morningstar Growth ETF Asset Allocation Portfolio — Class I |
| Morningstar Growth ETF Asset Allocation Class II | Morningstar Growth ETF Asset Allocation Portfolio — Class II |
| Morningstar Income & Growth ETF Asset Allocation Class I | Morningstar Income & Growth ETF Asset Allocation Portfolio — Class I |
| Morningstar Income & Growth ETF Asset Allocation Class II | Morningstar Income & Growth ETF Asset Allocation Portfolio — Class II |
|  | Neuberger Berman Advisers Management Trust |
| Neuberger Berman AMT Mid Cap Growth Class S | Neuberger Berman AMT Mid Cap Growth Portfolio — Class S |
| Neuberger Berman AMT Mid Cap Intrinsic Value Class S | Neuberger Berman AMT Mid Cap Intrinsic Value Portfolio — Class S |
| Neuberger Berman AMT Quality Equity Class S<sup>10</sup> | Neuberger Berman AMT Quality Equity Class S |
|  | PIMCO Variable Insurance Trust |
| PIMCO All Asset Portfolio Advisor | PIMCO All Asset Portfolio — Advisor Class Shares |
| PIMCO CommodityRealReturn Strat. | PIMCO CommodityRealReturn® Strategy Portfolio — |
| Administrative Class | Administrative Class Shares |
| PIMCO Total Return Portfolio Advisor | PIMCO Total Return Portfolio — Advisor Class Shares |
|  | Franklin Templeton Variable Insurance Products Trust |
| Templeton Developing Markets VIP Fund - Class 2 | Templeton Developing Markets VIP Fund - Class 2 |
| Templeton Global Bond VIP Fund - Class 2 | Templeton Global Bond VIP Fund - Class 2 |
| Templeton Growth VIP Fund - Class 2 | Templeton Growth VIP Fund - Class 2 |
|  | Vanguard Variable Insurance Fund Portfolios |
| Vanguard Balanced | Vanguard VIF — Balanced Portfolio |
| Vanguard High Yield Bond | Vanguard VIF — High Yield Bond Portfolio |

---

------

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| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **1.** | **ORGANIZATION (continued)** |

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| | |
|:---|:---|
| Sub-Account | Mutual Fund |
|  | Vanguard Variable Insurance Fund Portfolios |
| Vanguard International | Vanguard VIF — International Portfolio |
| Vanguard Mid-Cap Index | Vanguard VIF — Mid-Cap Index Portfolio |
| Vanguard Real Estate Index | Vanguard VIF — Real Estate Index Portfolio |
| Vanguard Total Bond Market Index | Vanguard VIF — Total Bond Market Index Portfolio |
| Vanguard Total Stock Market Index | Vanguard VIF — Total Stock Market Index Portfolio |
|  | Victory Funds |
| Victory Pioneer Bond VCT Class I<sup>1</sup> | Victory Pioneer Bond VCT Portfolio — Class I |
| Victory Pioneer Equity Income VCT Class II<sup>2</sup> | Victory Pioneer Equity Income VCT Portfolio — Class II |
| Victory Pioneer Fund VCT Class I<sup>3</sup> | Victory Pioneer Fund VCT Portfolio — Class I |
| Victory Pioneer High Yield VCT Class II<sup>4</sup> | Victory Pioneer High Yield VCT Portfolio — Class II |
| Victory Pioneer Mid Cap Value VCT Class I<sup>5</sup> | Victory Pioneer Mid Cap Value VCT Portfolio — Class I |
| Victory Pioneer Select Mid Cap Growth VCT Class I<sup>6</sup> | Victory Pioneer Select Mid Cap Growth VCT Portfolio — Class I |
| Victory Pioneer Strategic Income VCT Class II<sup>7</sup> | Victory Pioneer Strategic Income VCT Portfolio — Class II |
|  | Voya VP Natural Resource Trust |
| Voya Global High Dividend Low Volatility Portfolio - Class S | Voya Global High Dividend Low Volatility Portfolio - Class S |
|  | Voya Investors Trust |
| VY JPMorgan Emerging Markets Equity Portfolio Initial | VY JPMorgan Emerging Markets Equity Portfolio Class I |

---

1 Victory Pioneer Bond VCT Portfolio Class I was formally known as Pioneer Bond VCT Class I prior to March 31, 2025.

2 Victory Pioneer Equity Income VCT Class II was formally known as Pioneer Equity Income VCT Class II prior to March 31, 2025. &nbsp;&nbsp;&nbsp;&nbsp;

3 Victory Pioneer Fund VCT Class I was formally known as Pioneer Fund VCT Class I prior to March 31, 2025.

4 Victory Pioneer High Yield VCT Class II was formally known as Pioneer High Yield VCT Class II prior to March 31, 2025.

5 Victory Pioneer Mid Cap Value VCT Class I was formally known as Pioneer Mid Cap Value VCT Class I prior to March 31, 2025.

6 Victory Pioneer Select Mid Cap Growth VCT Class I was formally known as Pioneer Select Mid Cap Growth VCT Class I prior to March 31, 2025.

7 Victory Pioneer Strategic Income VCT Class II was formally known as Pioneer Strategic Income VCT Class II prior to March 31, 2025.

8 Fidelity Asset Manager 50% Portfolio was formally known as Fidelity Asset Manager prior to May 1, 2025.

9 Columbia Variable Portfolio - Acorn Fund was formally known as Wanger Acorn prior to June 2, 2025.

10 Neuberger Berman AMT Quality Equity Class S was formally known as Neuberger Berman AMT Sustainable Equity Class S prior to July 28, 2025.

11 There was no activity in the current year and the prior year and no net asset balance to report on the Statements of Assets and Liabilities as of December 31, 2025.

12 There was activity in the prior year and no activity in the current year and no net asset balance to report on the Statements of Assets and Liabilities as of December 31, 2025.

&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;

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| |
|:---|
| Symetra Separate Account C |
| **Notes to Financial Statements** |

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**2. SIGNIFICANT ACCOUNTING POLICIES**

BASIS OF PRESENTATION AND USE OF ESTIMATES — The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (GAAP), including the rules and regulations of the Securities and Exchange Commission (SEC).

INVESTMENT VALUATION — Investments in portfolio shares are valued at fair value based on the net asset value (NAV) as reported by the underlying Mutual Fund on the last trading day of the year.

The Separate Account determines the fair value of its financial instruments based on the fair value hierarchy, which requires an entity to maximize its use of observable inputs and minimize the use of unobservable inputs when measuring fair value. This fair value hierarchy prioritizes fair value measurements into the three levels based on the nature of the inputs. Quoted prices in active markets for identical assets or liabilities have the highest priority ("Level 1"), followed by significant observable inputs other than quoted market prices, including prices for similar but not identical assets or liabilities ("Level 2") and significant unobservable inputs, including the reporting entity's estimates of the assumptions that market participants would use, having the lowest priority ("Level 3").

The availability of observable market information is the principal factor in determining the level to which the Separate Account's investments are assigned in the fair value hierarchy. As such, all Separate Account investments have been classified as Level 1 in the fair value hierarchy.

INVESTMENT TRANSACTIONS — Investment transactions are recorded on the trade date. Realized gains and losses on investment transactions are determined using the first-in-first-out (FIFO) method.

INCOME RECOGNITION — Dividend income and realized capital gain distributions are recorded on the ex-dividend date.

DISTRIBUTIONS — The net investment income and realized capital gains of the Separate Account are not distributed, but are retained and reinvested for the benefit of unit owners.

FEDERAL INCOME TAX — Operations of the Separate Account are included in the federal income tax return of Symetra Life, which is taxed as a "Life Insurance Company" under the provisions of the Internal Revenue Code. Under current federal income tax law, no income taxes are payable with respect to the operations of the Separate Account to the extent the earnings are reinvested.

SEGMENT INFORMATION — In this reporting period, 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 sub-accounts 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 Separate Account has identified the senior vice president of retirement products as the CODM. The Separate Account is comprised of multiple sub-accounts, each which constitute a single operating segment.

The financial information, in the form of the sub-accounts' holdings, including investment returns, asset allocations, fees, purchases, redemptions, as well as investment objectives, investment advisor and fund manager designations of each sub-account, are used by the CODM to assess the sub-accounts' availability and performance by comparing the underlying mutual funds' performance to their respective benchmark and to make resource allocation decisions for each sub-account's single segment, which is consistent with that presented within the sub-accounts' financial statements. Sub-accounts' holdings are reflected on the accompanying Statements of Assets and Liabilities as "net assets" and significant fund expenses are listed on the accompanying Statements of Operations and Changes in Net Assets.

**3. &nbsp;&nbsp;&nbsp;&nbsp;EXPENSES AND RELATED PARTY TRANSACTIONS**

Symetra Life assumes mortality and expense ("M&E") risks and incurs asset-related administrative expenses related to the operations of the Separate Account. Optional benefit charges may be elected for a guaranteed minimum death benefit ("GMDB") and an earnings enhancement benefit ("EEB") for certain products. Symetra Life deducts a daily charge from the assets of the Separate Account to cover these expenses. These charges are included in net investment income (loss) in the accompanying Statements of Operations and Changes in Net Assets. Symetra Life also deducts annual contract maintenance charges which are reflected as a contract maintenance charge in the accompanying Statements of Operations and Changes in Net Assets. The table below describes the maximum charges for the fees and expenses charged by product.

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| |
|:---|
| Symetra Separate Account C |
| **Notes to Financial Statements** |

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**3.&nbsp;&nbsp;&nbsp;&nbsp;EXPENSES AND RELATED PARTY TRANSACTIONS (continued)**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Annual Periodic Charges** | **Mortality and**<br>**expense risk**<sup>1</sup> | **Asset-related**<br>**administrative**<sup>1</sup> | **Optional**<br>**(GMDB)**<sup>1</sup> | **Optional**<br>**(EEB)**<sup>1</sup> | **Contract<br>Maintenance** |
| Spinnaker & Mainsail | 1.25% | 0.15% | 0.20% | 0.15% | $30 |
| Spinnaker Advisor | 1.25% | 0.20% | Not Available | Not Available | $30 |
| Spinnaker Choice | 1.40% | 0.15% | 0.20% | 0.15% | No Charge |
| Focus | 0.95% | 0.40% | 0.10% | Not Available | $40 |
| Retirement Passport | 1.25% | No Charge | Not Available | Not Available | $30 |
| Retirement Passport — Calvert sub accounts | 1.25% | 0.10% | Not Available | Not Available | $30 |
| Retirement Passport — Vanguard sub accounts | 1.25% | 0.25% | Not Available | Not Available | $30 |

---

<sup>1</sup> As a percentage of average daily net assets of each sub-account deducted daily.

A withdrawal charge of $25 or 2.00 percent of the withdrawal amount, whichever is less, may be imposed on the owner of the policy for the second and each subsequent withdrawal in any one year. A transfer charge of $10 or 2.00 percent of the amount transferred, whichever is less, may be imposed on transfers that exceed the number of free transfers allowed each year. These charges are reflected as contract maintenance charges in the accompanying Statements of Operations and Changes in Net Assets. A surrender charge may be applicable in the first eight years on withdrawals that exceed the free withdrawal amount. The surrender charge is reflected as transfers out in the accompanying Statements of Operations and Changes in Net Assets. These charges do not apply to all products and may vary by contract year and other factors as described in the product prospectuses.

The Retirement Passport product may allow the owner of the policy to take a loan against their account value. A loan application charge of $50 or 2.50 percent of the loan amount, whichever is less, will be deducted from the sub-account with the highest balance at the time the loan is approved. An annual loan maintenance charge of $35 or 2.50 percent of the loan amount, whichever is less, will be deducted from the sub-account with the highest balance. These charges are reflected as transfers out in the accompanying Statements of Operations and Changes in Net Assets.

**4. INVESTMENT TRANSACTIONS**

The following table summarizes investment purchases and proceeds from sales activity by sub-account for the year ended December 31, 2025.&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Sub-Account** | **Purchases** | **Proceeds From Sales** |
| BNY Mellon Appreciation | $535883 | $451471 |
| BNY Mellon MidCap Stock | 541797 | 798323 |
| BNY Mellon Stock Index | 753119 | 1746046 |
| BNY Mellon Sustainable U.S. Equity | 228703 | 394487 |
| BNY Mellon Technology Growth | 1459654 | 424621 |
| Calvert SRI Balanced | 28571 | 8069 |
| Columbia Variable Portfolio - Acorn Fund<sup>1</sup> |  | 657 |
| CVT EAFE International Index Class F | 12038 | 30785 |
| CVT Investment Grade Bond Index Class I | 84849 | 401367 |
| CVT Nasdaq-100 Index Class I | 151847 | 508421 |
| CVT Russell 2000 Small Cap Index Class F | 77740 | 89721 |
| CVT S&P Midcap 400 Index Class F | 61448 | 67140 |
| DWS CROCI International VIP - Class A | 35857 | 96272 |
| DWS Global Income Builder VIP A | 947696 | 458457 |
| DWS Small Cap Index A Share | 11538 | 2849 |
| Federated Hermes High Income Bond | 51420 | 100804 |
| Federated Hermes Managed Volatility II | 19045 | 41168 |
| Fidelity Asset Manager 50% Portfolio<sup>1</sup> | 5885 | 16819 |
| Fidelity Contrafund | 5079106 | 5757081 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4.** | **INVESTMENT TRANSACTIONS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **Sub-Account** | **Purchases** | **Proceeds From Sales** |
| Fidelity Equity-Income | $287642 | $757727 |
| Fidelity Freedom Funds 2010 II | 11425 | 363557 |
| Fidelity Freedom Funds 2015 II | 6451 | 5454 |
| Fidelity Freedom Funds 2020 II | 56720 | 65381 |
| Fidelity Freedom Funds 2025 II | 47560 | 268462 |
| Fidelity Freedom Funds 2030 II | 307028 | 378930 |
| Fidelity Freedom Funds 2050 II | 2698 | 435 |
| Fidelity Freedom Income Fund II | 2254 | 35529 |
| Fidelity Government Money Market Portfolio - Initial Class | 1256208 | 1305549 |
| Fidelity Government Money Market Portfolio - Service Class II | 430189 | 1012929 |
| Fidelity Growth | 2103089 | 2592624 |
| Fidelity Growth & Income | 649265 | 663064 |
| Fidelity Growth Opportunities | 91510 | 609119 |
| Fidelity Index 500 | 25601 | 21198 |
| Fidelity Mid Cap II | 428209 | 744485 |
| Fidelity Overseas II | 16661 | 45253 |
| Franklin Allocation VIP Fund - Class 2 | 44913 | 27004 |
| Franklin DynaTech VIP Fund - Class 2 | 298 | 22637 |
| Franklin Income VIP Fund - Class 2 | 193953 | 624467 |
| Franklin Mutual Shares VIP Fund - Class 2 | 381358 | 335129 |
| Franklin Small Cap Value VIP Fund - Class 2 | 355882 | 644065 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | 166391 | 313646 |
| Franklin U.S. Government Securities VIP Fund - Class 2 | 154917 | 363125 |
| Invesco American Franchise Fund I | 559104 | 608469 |
| Invesco American Franchise Fund II | 95315 | 188170 |
| Invesco Discovery Mid Cap Growth Fund I | 14221 | 3399 |
| Invesco Discovery Mid Cap Growth Fund II | 34217 | 34052 |
| Invesco EQV International Equity I | 41607 | 91030 |
| Invesco EQV International Equity II | 307608 | 440342 |
| Invesco Global Real Estate | 56957 | 181304 |
| Invesco Health Care | 9316 | 28703 |
| Invesco Small Cap Equity II | 114589 | 60456 |
| LVIP American Century Balanced Fund Standard Class II | 174896 | 929543 |
| LVIP American Century Inflation Protection Fund Service | 140711 | 146348 |
| LVIP American Century International Fund Standard Class II | 92530 | 720521 |
| LVIP American Century Large Company Value Fund Service | 33178 | 140428 |
| LVIP American Century Ultra Fund Service Class | 53174 | 69283 |
| LVIP American Century Ultra Fund Standard Class II | 39875 | 46335 |
| LVIP American Century Value Fund Standard Class II | 230496 | 297694 |
| LVIP JPMorgan Mid Cap Value Fund - Standard Class | 522407 | 571497 |
| LVIP JPMorgan U.S. Equity Fund - Standard Class | 93989 | 268033 |
| Morningstar Aggressive Growth ETF Asset Allocation Class I | 15568 | 2446 |
| Morningstar Aggressive Growth ETF Asset Allocation Class II | 134442 | 76763 |
| Morningstar Balanced ETF Asset Allocation Class I | 44348 | 41158 |
| Morningstar Balanced ETF Asset Allocation Class II | 355299 | 307782 |
| Morningstar Conservative ETF Asset Allocation Class I | 21718 | 10431 |
| Morningstar Conservative ETF Asset Allocation Class II | 4880 | 40042 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **4.** | **INVESTMENT TRANSACTIONS (continued)** |

---

---

| | | |
|:---|:---|:---|
| **Sub-Account** | **Purchases** | **Proceeds From Sales** |
| Morningstar Growth ETF Asset Allocation Class I | $10678 | $1591 |
| Morningstar Growth ETF Asset Allocation Class II | 178627 | 365454 |
| Morningstar Income & Growth ETF Asset Allocation Class I | 5906 | 12461 |
| Morningstar Income & Growth ETF Asset Allocation Class II | 65397 | 192336 |
| Neuberger Berman AMT Mid Cap Growth Class S | 66732 | 24746 |
| Neuberger Berman AMT Mid Cap Intrinsic Value Class S | 6867 | 815 |
| Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | 20268 | 2449 |
| PIMCO All Asset Portfolio Advisor | 9140 | 50346 |
| PIMCO CommodityRealReturn Strat. Administrative Class | 50799 | 121138 |
| PIMCO Total Return Portfolio Advisor | 11504 | 688 |
| Templeton Developing Markets VIP Fund - Class 2 | 39509 | 133941 |
| Templeton Global Bond VIP Fund - Class 2 | 45219 | 237609 |
| Templeton Growth VIP Fund - Class 2 | 227277 | 330095 |
| Vanguard Balanced | 29581 | 7657 |
| Vanguard High Yield Bond | 139499 | 438214 |
| Vanguard International | 87750 | 370516 |
| Vanguard Mid-Cap Index | 251188 | 303254 |
| Vanguard Real Estate Index | 13739 | 79668 |
| Vanguard Total Bond Market Index | 472143 | 563228 |
| Vanguard Total Stock Market Index | 197640 | 681940 |
| Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> | 71707 | 199138 |
| Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> | 461981 | 384807 |
| Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> | 6406940 | 4609659 |
| Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> | 54688 | 55063 |
| Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> | 459549 | 763567 |
| Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> | 3684406 | 3395930 |
| Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> | 149203 | 443255 |
| Voya Global High Dividend Low Volatility Portfolio - Class S | 58047 | 31158 |
| VY JPMorgan Emerging Markets Equity Portfolio Initial | 86365 | 15566 |

---

<sup>&nbsp;&nbsp;&nbsp;&nbsp;1</sup> Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

**5.&nbsp;&nbsp;&nbsp;&nbsp;CHANGES IN ACCUMULATION UNITS OUTSTANDING**

The changes in Units outstanding for the years or periods ended December 31, 2025, and 2024 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|<br>**Sub-Account** | **Units<br>Issued** | **Units<br>Redeemed** | **Increase**<br>**(Decrease)**<br>**in Units**<sup>2</sup> | **Units<br>Issued** | **Units<br>Redeemed** | **Increase**<br>**(Decrease)**<br>**in Units**<sup>2</sup> |
| BNY Mellon Appreciation | 611 | (9823) | (9212) | 1040 | (9343) | (8303) |
| BNY Mellon MidCap Stock | 1392 | (17303) | (15911) | 1695 | (16669) | (14974) |
| BNY Mellon Stock Index | 2529 | (23342) | (20813) | 2238 | (17297) | (15059) |
| BNY Mellon Sustainable U.S. Equity | 956 | (12107) | (11151) | 2321 | (13377) | (11056) |
| BNY Mellon Technology Growth | 605 | (13120) | (12515) | 818 | (20063) | (19245) |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **5.** | **CHANGES IN ACCUMULATION UNITS OUTSTANDING (Continued)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|<br>**Sub-Account** | **Units<br>Issued** | **Units<br>Redeemed** | **Increase**<br>**(Decrease)**<br>**in Units**<sup>2</sup> | **Units<br>Issued** | **Units<br>Redeemed** | **Increase**<br>**(Decrease)**<br>**in Units**<sup>2</sup> |
| Calvert SRI Balanced | 125 | (136) | (11) | 233 | (2065) | (1832) |
| Columbia Variable Portfolio - Acorn Fund<sup>1</sup> |  | (3) | (3) |  | (123) | (123) |
| CVT EAFE International Index Class F | 192 | (1826) | (1634) | 1493 | (1805) | (312) |
| CVT Investment Grade Bond Index Class I | 3181 | (31347) | (28166) | 4816 | (20584) | (15768) |
| CVT Nasdaq-100 Index Class I | 1040 | (4659) | (3619) | 2793 | (5700) | (2907) |
| CVT Russell 2000 Small Cap Index Class F | 1073 | (3122) | (2049) | 1369 | (2570) | (1201) |
| CVT S&P Midcap 400 Index Class F | 287 | (1689) | (1402) | 511 | (2110) | (1599) |
| DWS Capital Growth VIP B |  |  |  | 1204 | (25584) | (24380) |
| DWS CROCI International VIP - Class A | 308 | (3383) | (3075) | 498 | (11348) | (10850) |
| DWS Global Income Builder VIP A | 1126 | (8772) | (7646) | 847 | (13245) | (12398) |
| DWS Global Small Cap VIP B |  |  |  | 27 | (5514) | (5487) |
| DWS International Growth VIP B Share |  |  |  | 37 | (1590) | (1553) |
| DWS Small Cap Index A Share |  | (24) | (24) |  | (25) | (25) |
| Federated Hermes High Income Bond | 287 | (2677) | (2390) | 246 | (2714) | (2468) |
| Federated Hermes Managed Volatility II | 54 | (1044) | (990) | 54 | (2267) | (2213) |
| Fidelity Asset Manager 50% Portfolio<sup>1</sup> | 13 | (507) | (494) | 13 | (901) | (888) |
| Fidelity Contrafund | 3635 | (54679) | (51044) | 7479 | (56632) | (49153) |
| Fidelity Equity-Income | 779 | (14225) | (13446) | 2693 | (10801) | (8108) |
| Fidelity Freedom Funds 2010 II |  | (19529) | (19529) |  | (351) | (351) |
| Fidelity Freedom Funds 2015 II |  | (220) | (220) |  | (231) | (231) |
| Fidelity Freedom Funds 2020 II | 1398 | (3059) | (1661) | 3033 | (1480) | 1553 |
| Fidelity Freedom Funds 2025 II | 503 | (12151) | (11648) | 2182 | (290) | 1892 |
| Fidelity Freedom Funds 2030 II | 8445 | (15195) | (6750) | 1401 | (4929) | (3528) |
| Fidelity Freedom Income Fund II | 1 | (2263) | (2262) | 1 | (863) | (862) |
| Fidelity Government Money Market Portfolio - Initial Class | 118218 | (123221) | (5003) | 27 | (1101) | (1074) |
| Fidelity Government Money Market Portfolio - Service Class II | 28835 | (98942) | (70107) | 137850 | (134903) | 2947 |
| Fidelity Growth | 1610 | (51437) | (49827) | 2350 | (38639) | (36289) |
| Fidelity Growth & Income | 2199 | (13198) | (10999) | 2094 | (14426) | (12332) |
| Fidelity Growth Opportunities | 231 | (6592) | (6361) | 217 | (15104) | (14887) |
| Fidelity Index 500 | 2 | (58) | (56) | 1 | (635) | (634) |
| Fidelity Mid Cap II | 1453 | (15634) | (14181) | 468 | (16557) | (16089) |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **5.** | **CHANGES IN ACCUMULATION UNITS OUTSTANDING (Continued)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|<br>**Sub-Account** | **Units<br>Issued** | **Units<br>Redeemed** | **Increase**<br>**(Decrease)**<br>**in Units**<sup>2</sup> | **Units<br>Issued** | **Units<br>Redeemed** | **Increase**<br>**(Decrease)**<br>**in Units**<sup>2</sup> |
| Fidelity Overseas II | 140 | (2838) | (2698) | 2386 | (2784) | (398) |
| Franklin Allocation VIP Fund - Class 2 | 1353 | (1188) | 165 | 392 | (1739) | (1347) |
| Franklin DynaTech VIP Fund - Class 2 | 15 | (294) | (279) | 565 | (7990) | (7425) |
| Franklin Income VIP Fund - Class 2 | 1506 | (23881) | (22375) | 2828 | (9030) | (6202) |
| Franklin Mutual Shares VIP Fund - Class 2 | 1874 | (10214) | (8340) | 1136 | (14280) | (13144) |
| Franklin Small Cap Value VIP Fund - Class 2 | 2051 | (16422) | (14371) | 1837 | (25122) | (23285) |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | 1110 | (10142) | (9032) | 1191 | (19649) | (18458) |
| Franklin U.S. Government Securities VIP Fund - Class 2 | 6331 | (23537) | (17206) | 7960 | (34622) | (26662) |
| Invesco American Franchise Fund I | 557 | (12727) | (12170) | 782 | (22678) | (21896) |
| Invesco American Franchise Fund II | 821 | (3914) | (3093) | 341 | (4386) | (4045) |
| Invesco Discovery Mid Cap Growth Fund I |  | (18) | (18) |  | (143) | (143) |
| Invesco Discovery Mid Cap Growth Fund II | 306 | (1038) | (732) | 1247 | (723) | 524 |
| Invesco EQV International Equity I | 318 | (2060) | (1742) | 274 | (1016) | (742) |
| Invesco EQV International Equity II | 5566 | (22006) | (16440) | 4375 | (42696) | (38321) |
| Invesco Global Real Estate | 1153 | (4941) | (3788) | 918 | (8201) | (7283) |
| Invesco Health Care | 6 | (599) | (593) | 87 | (366) | (279) |
| Invesco Small Cap Equity II | 3371 | (2063) | 1308 | 129 | (2134) | (2005) |
| LVIP American Century Balanced Fund Standard Class II | 3680 | (27582) | (23902) | 2294 | (26017) | (23723) |
| LVIP American Century Inflation Protection Fund Service | 3819 | (10275) | (6456) | 7016 | (23416) | (16400) |
| LVIP American Century International Fund Standard Class II | 4205 | (36741) | (32536) | 3001 | (25945) | (22944) |
| LVIP American Century Large Company Value Fund Service | 214 | (4640) | (4426) | 407 | (814) | (407) |
| LVIP American Century Ultra Fund Service Class | 312 | (965) | (653) | 258 | (2086) | (1828) |
| LVIP American Century Ultra Fund Standard Class II | 63 | (497) | (434) | 33 | (1098) | (1065) |
| LVIP American Century Value Fund Standard Class II | 1182 | (6289) | (5107) | 859 | (10594) | (9735) |
| LVIP JPMorgan Mid Cap Value Fund - Standard Class | 1546 | (8905) | (7359) | 991 | (10305) | (9314) |
| LVIP JPMorgan U.S. Equity Fund - Standard Class | 106 | (5152) | (5046) | 124 | (4407) | (4283) |
| Morningstar Aggressive Growth ETF Asset Allocation Class I |  | (2) | (2) |  | (2) | (2) |
| Morningstar Aggressive Growth ETF Asset Allocation Class II | 1867 | (2922) | (1055) | 1024 | (9152) | (8128) |
| Morningstar Balanced ETF Asset Allocation Class I |  | (1995) | (1995) | 58 | (21674) | (21616) |
| Morningstar Balanced ETF Asset Allocation Class II | 1898 | (14719) | (12821) | 3089 | (15350) | (12261) |
| Morningstar Conservative ETF Asset Allocation Class I | 6 | (122) | (116) | 13 | (8512) | (8499) |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **5.** | **CHANGES IN ACCUMULATION UNITS OUTSTANDING (Continued)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|<br>**Sub-Account** | **Units<br>Issued** | **Units<br>Redeemed** | **Increase**<br>**(Decrease)**<br>**in Units**<sup>2</sup> | **Units<br>Issued** | **Units<br>Redeemed** | **Increase**<br>**(Decrease)**<br>**in Units**<sup>2</sup> |
| Morningstar Conservative ETF Asset Allocation Class II | 161 | (2964) | (2803) | 3530 | (1234) | 2296 |
| Morningstar Growth ETF Asset Allocation Class II | 554 | (15688) | (15134) | 852 | (1101) | (249) |
| Morningstar Income & Growth ETF Asset Allocation Class I |  | (704) | (704) |  | (754) | (754) |
| Morningstar Income & Growth ETF Asset Allocation Class II | 660 | (11757) | (11097) | 2817 | (511) | 2306 |
| Neuberger Berman AMT Mid Cap Growth Class S | 207 | (585) | (378) | 171 | (1590) | (1419) |
| Neuberger Berman AMT Mid Cap Intrinsic Value Class S | 198 | (21) | 177 | 164 | (16) | 148 |
| Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | 260 | (8) | 252 | 134 | (466) | (332) |
| PIMCO All Asset Portfolio Advisor | 66 | (2413) | (2347) | 157 | (2025) | (1868) |
| PIMCO CommodityRealReturn Strat. Administrative Class | 4469 | (13498) | (9029) | 7232 | (15934) | (8702) |
| PIMCO Total Return Portfolio Advisor | 912 | (49) | 863 | 4041 | (31919) | (27878) |
| Templeton Developing Markets VIP Fund - Class 2 | 743 | (3949) | (3206) | 834 | (8003) | (7169) |
| Templeton Global Bond VIP Fund - Class 2 | 4084 | (15746) | (11662) | 5186 | (23458) | (18272) |
| Templeton Growth VIP Fund - Class 2 | 1641 | (13280) | (11639) | 2385 | (16001) | (13616) |
| Vanguard Balanced |  | (140) | (140) | 628 | (1368) | (740) |
| Vanguard High Yield Bond | 5105 | (22241) | (17136) | 10475 | (385) | 10090 |
| Vanguard International | 2165 | (16574) | (14409) | 3223 | (3218) | 5 |
| Vanguard Mid-Cap Index | 5565 | (8294) | (2729) | 55 | (945) | (890) |
| Vanguard Real Estate Index | 382 | (4109) | (3727) | 247 | (788) | (541) |
| Vanguard Total Bond Market Index | 37374 | (42617) | (5243) | 19257 | (1497) | 17760 |
| Vanguard Total Stock Market Index | 1807 | (15349) | (13542) | 12988 | (15198) | (2210) |
| Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> | 397 | (4953) | (4556) | 434 | (3193) | (2759) |
| Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> | 1168 | (10080) | (8912) | 3486 | (29206) | (25720) |
| Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> | 579 | (15253) | (14674) | 642 | (18910) | (18268) |
| Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> | 1309 | (2520) | (1211) | 2720 | (5216) | (2496) |
| Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> | 562 | (10879) | (10317) | 704 | (12228) | (11524) |
| Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> | 690 | (15653) | (14963) | 850 | (30311) | (29461) |
| Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> | 4443 | (24186) | (19743) | 8981 | (29577) | (20596) |
| Voya Global High Dividend Low Volatility Portfolio - Class S | 10 | (465) | (455) | 14 | (870) | (856) |
| VY JPMorgan Emerging Markets Equity Portfolio Initial | 52 | (283) | (231) | 171 | (3595) | (3424) |

---

&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup> Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>2</sup> Funds with no changes in units in either period were not included in the table above.

------

---

| |
|:---|
| Symetra Separate Account C |
| **Notes to Financial Statements** |

---

**6. ACCUMULATION UNIT VALUES** 

The following table summarizes the Unit values and Units outstanding for sub-accounts of the Symetra Separate Account C, net investment income ratios and the expense ratios, excluding expenses of the underlying Mutual Funds, and total returns for each of the five years in the period ended December 31, 2025.

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| BNY Mellon Appreciation | BNY Mellon Appreciation | BNY Mellon Appreciation | BNY Mellon Appreciation | BNY Mellon Appreciation |  |  |  |  |  |  |  |  |  |
|  | 2025 | $44.742 | to | $42.844 | 73488 | $3277692 | 0.37% | 1.40% | to | 1.60% | 8.54% | to | 8.33% |
|  | 2024 | 41.221 | to | 39.551 | 82699 | 3399128 | 0.42 | 1.40 | to | 1.60 | 11.23 | to | 11.00 |
|  | 2023 | 37.059 | to | 35.630 | 91002 | 3363378 | 0.71 | 1.40 | to | 1.60 | 19.29 | to | 19.06 |
|  | 2022 | 31.066 | to | 29.927 | 101033 | 3130818 | 0.67 | 1.40 | to | 1.60 | (19.20) | to | (19.36) |
|  | 2021 | 38.449 | to | 37.114 | 107232 | 4112313 | 0.43 | 1.40 | to | 1.60 | 25.36 | to | 25.11 |
| BNY Mellon MidCap Stock | BNY Mellon MidCap Stock | BNY Mellon MidCap Stock | BNY Mellon MidCap Stock | BNY Mellon MidCap Stock |  |  |  |  |  |  |  |  |  |
|  | 2025 | 45.889 | to | 43.942 | 114184 | 5158402 | 0.69 | 1.40 | to | 1.60 | 8.54 | to | 8.32 |
|  | 2024 | 42.279 | to | 40.566 | 130095 | 5421189 | 0.84 | 1.40 | to | 1.60 | 11.04 | to | 10.82 |
|  | 2023 | 38.075 | to | 36.606 | 145069 | 5447782 | 0.81 | 1.40 | to | 1.60 | 16.67 | to | 16.44 |
|  | 2022 | 32.634 | to | 31.438 | 159622 | 5134671 | 0.74 | 1.40 | to | 1.60 | (15.27) | to | (15.44) |
|  | 2021 | 38.515 | to | 37.178 | 176077 | 6675148 | 0.64 | 1.40 | to | 1.60 | 24.13 | to | 23.89 |
| BNY Mellon Stock Index | BNY Mellon Stock Index | BNY Mellon Stock Index | BNY Mellon Stock Index | BNY Mellon Stock Index |  |  |  |  |  |  |  |  |  |
|  | 2025 | 74.941 | to | 71.762 | 133916 | 10007171 | 0.77 | 1.40 | to | 1.60 | 15.61 | to | 15.38 |
|  | 2024 | 64.823 | to | 62.198 | 154729 | 10004435 | 0.91 | 1.40 | to | 1.60 | 22.61 | to | 22.36 |
|  | 2023 | 52.870 | to | 50.830 | 169787 | 8954779 | 1.16 | 1.40 | to | 1.60 | 23.86 | to | 23.61 |
|  | 2022 | 42.685 | to | 41.120 | 187285 | 7972033 | 1.08 | 1.40 | to | 1.60 | (19.65) | to | (19.82) |
|  | 2021 | 53.127 | to | 51.282 | 204326 | 10824327 | 0.82 | 1.40 | to | 1.60 | 26.34 | to | 26.08 |
| BNY Mellon Sustainable U.S. Equity | BNY Mellon Sustainable U.S. Equity | BNY Mellon Sustainable U.S. Equity | BNY Mellon Sustainable U.S. Equity | BNY Mellon Sustainable U.S. Equity |  |  |  |  |  |  |  |  |  |
|  | 2025 | 33.365 | to | 31.119 | 74463 | 2479206 | 0.26 | 1.40 | to | 1.45 | 14.36 | to | 14.30 |
|  | 2024 | 29.175 | to | 27.225 | 85615 | 2493209 | 0.56 | 1.40 | to | 1.45 | 23.14 | to | 23.08 |
|  | 2023 | 23.692 | to | 22.119 | 96671 | 2286423 | 0.75 | 1.40 | to | 1.45 | 22.10 | to | 22.04 |
|  | 2022 | 19.403 | to | 18.124 | 107763 | 2088333 | 0.53 | 1.40 | to | 1.45 | (23.94) | to | (23.98) |
|  | 2021 | 25.511 | to | 23.841 | 117072 | 2985431 | 0.76 | 1.40 | to | 1.45 | 25.23 | to | 25.17 |
| BNY Mellon Technology Growth | BNY Mellon Technology Growth | BNY Mellon Technology Growth | BNY Mellon Technology Growth | BNY Mellon Technology Growth |  |  |  |  |  |  |  |  |  |
|  | 2025 | 33.341 | to | 29.970 | 107286 | 3548942 |  | 1.40 | to | 1.45 | 26.38 | to | 26.32 |
|  | 2024 | 26.382 | to | 23.726 | 119801 | 3138349 |  | 1.40 | to | 1.45 | 23.99 | to | 23.92 |
|  | 2023 | 21.278 | to | 19.146 | 139046 | 2931320 |  | 1.40 | to | 1.45 | 57.21 | to | 57.14 |
|  | 2022 | 13.535 | to | 12.184 | 148607 | 1993752 |  | 1.40 | to | 1.45 | (47.13) | to | (47.16) |
|  | 2021 | 25.601 | to | 23.059 | 164454 | 4155363 |  | 1.40 | to | 1.45 | 11.36 | to | 11.30 |
| Calvert SRI Balanced | Calvert SRI Balanced | Calvert SRI Balanced | Calvert SRI Balanced | Calvert SRI Balanced |  |  |  |  |  |  |  |  |  |
|  | 2025 | 30.648 | to | 30.379 | 12800 | 392268 | 1.64 | 1.40 | to | 1.45 | 9.93 | to | 9.87 |
|  | 2024 | 27.880 | to | 27.649 | 12812 | 357161 | 1.64 | 1.40 | to | 1.45 | 17.94 | to | 17.88 |
|  | 2023 | 23.639 | to | 23.455 | 14643 | 346128 | 1.61 | 1.40 | to | 1.45 | 15.20 | to | 15.14 |
|  | 2022 | 20.520 | to | 20.370 | 15169 | 311252 | 1.23 | 1.40 | to | 1.45 | (16.59) | to | (16.63) |
|  | 2021 | 24.601 | to | 24.433 | 14745 | 362705 | 1.10 | 1.40 | to | 1.45 | 13.52 | to | 13.46 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Columbia Variable Portfolio - Acorn Fund<sup>1</sup> | Columbia Variable Portfolio - Acorn Fund<sup>1</sup> | Columbia Variable Portfolio - Acorn Fund<sup>1</sup> | Columbia Variable Portfolio - Acorn Fund<sup>1</sup> | Columbia Variable Portfolio - Acorn Fund<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | $140.483 | to | $140.483 | 110 | $15491 | —% | 1.40% | to | 1.40% | 3.02% | to | 3.02% |
|  | 2024 | 136.370 | to | 136.370 | 113 | 15464 |  | 1.40 | to | 1.40 | 12.58 | to | 12.58 |
|  | 2023 | 121.129 | to | 121.129 | 236 | 28639 |  | 1.40 | to | 1.40 | 20.05 | to | 20.05 |
|  | 2022 | 100.900 | to | 100.900 | 418 | 42179 |  | 1.40 | to | 1.40 | (34.39) | to | (34.39) |
|  | 2021 | 153.782 | to | 153.782 | 445 | 68374 | 0.74 | 1.40 | to | 1.40 | 7.39 | to | 7.39 |
| Columbia VP Select Mid Cap Value Fund - Class 1<sup>1</sup> | Columbia VP Select Mid Cap Value Fund - Class 1<sup>1</sup> | Columbia VP Select Mid Cap Value Fund - Class 1<sup>1</sup> | Columbia VP Select Mid Cap Value Fund - Class 1<sup>1</sup> | Columbia VP Select Mid Cap Value Fund - Class 1<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 45.256 | to | 45.256 |  |  |  | 1.25 | to | 1.25 | 12.77 | to | 12.77 |
|  | 2024 | 40.133 | to | 40.133 |  |  |  | 1.25 | to | 1.25 | 11.13 | to | 11.13 |
|  | 2023 | 36.112 | to | 36.112 |  |  |  | 1.25 | to | 1.25 | 8.93 | to | 8.93 |
|  | 2022 | 33.151 | to | 33.151 | 205 | 6786 |  | 1.25 | to | 1.25 | (10.56) | to | (10.56) |
|  | 2021 | 37.064 | to | 37.064 | 205 | 7586 |  | 1.25 | to | 1.25 | 30.69 | to | 30.69 |
| CVT EAFE International Index Class F | CVT EAFE International Index Class F | CVT EAFE International Index Class F | CVT EAFE International Index Class F | CVT EAFE International Index Class F |  |  |  |  |  |  |  |  |  |
|  | 2025 | 14.836 | to | 14.706 | 27861 | 410426 | 2.55 | 1.40 | to | 1.45 | 28.82 | to | 28.76 |
|  | 2024 | 11.517 | to | 11.421 | 29495 | 337449 | 2.69 | 1.40 | to | 1.45 | 1.51 | to | 1.46 |
|  | 2023 | 11.346 | to | 11.257 | 29807 | 336039 | 3.43 | 1.40 | to | 1.45 | 15.91 | to | 15.84 |
|  | 2022 | 9.789 | to | 9.718 | 17711 | 172621 | 3.27 | 1.40 | to | 1.45 | (15.93) | to | (15.97) |
|  | 2021 | 11.644 | to | 11.565 | 21411 | 248475 | 1.47 | 1.40 | to | 1.45 | 9.12 | to | 9.06 |
| CVT Investment Grade Bond Index Class I | CVT Investment Grade Bond Index Class I | CVT Investment Grade Bond Index Class I | CVT Investment Grade Bond Index Class I | CVT Investment Grade Bond Index Class I |  |  |  |  |  |  |  |  |  |
|  | 2025 | 12.662 | to | 12.551 | 137138 | 1731698 | 2.97 | 1.40 | to | 1.45 | 5.41 | to | 5.36 |
|  | 2024 | 12.012 | to | 11.912 | 165304 | 1981122 | 2.77 | 1.40 | to | 1.45 | (0.38) | to | (0.43) |
|  | 2023 | 12.058 | to | 11.964 | 181072 | 2178904 | 2.77 | 1.40 | to | 1.45 | 4.01 | to | 3.96 |
|  | 2022 | 11.593 | to | 11.508 | 158897 | 1841828 | 2.58 | 1.40 | to | 1.45 | (13.74) | to | (13.78) |
|  | 2021 | 13.440 | to | 13.348 | 178819 | 2402666 | 2.24 | 1.40 | to | 1.45 | (3.18) | to | (3.23) |
| CVT Nasdaq-100 Index Class I | CVT Nasdaq-100 Index Class I | CVT Nasdaq-100 Index Class I | CVT Nasdaq-100 Index Class I | CVT Nasdaq-100 Index Class I |  |  |  |  |  |  |  |  |  |
|  | 2025 | 111.040 | to | 110.064 | 31217 | 3463219 | 0.27 | 1.40 | to | 1.45 | 18.72 | to | 18.66 |
|  | 2024 | 93.530 | to | 92.754 | 34836 | 3255655 | 0.32 | 1.40 | to | 1.45 | 23.46 | to | 23.39 |
|  | 2023 | 75.760 | to | 75.169 | 37743 | 2856481 | 0.32 | 1.40 | to | 1.45 | 52.26 | to | 52.19 |
|  | 2022 | 49.756 | to | 49.393 | 51774 | 2574332 | 0.18 | 1.40 | to | 1.45 | (33.58) | to | (33.61) |
|  | 2021 | 74.911 | to | 74.401 | 55138 | 4127912 | 0.27 | 1.40 | to | 1.45 | 25.11 | to | 25.05 |
| CVT Russell 2000 Small Cap Index Class F | CVT Russell 2000 Small Cap Index Class F | CVT Russell 2000 Small Cap Index Class F | CVT Russell 2000 Small Cap Index Class F | CVT Russell 2000 Small Cap Index Class F |  |  |  |  |  |  |  |  |  |
|  | 2025 | 30.762 | to | 30.491 | 25773 | 790033 | 1.59 | 1.40 | to | 1.45 | 10.67 | to | 10.62 |
|  | 2024 | 27.795 | to | 27.564 | 27822 | 770891 | 1.25 | 1.40 | to | 1.45 | 9.45 | to | 9.40 |
|  | 2023 | 25.395 | to | 25.196 | 29023 | 735046 | 0.90 | 1.40 | to | 1.45 | 14.75 | to | 14.68 |
|  | 2022 | 22.131 | to | 21.970 | 28596 | 631352 | 0.76 | 1.40 | to | 1.45 | (21.77) | to | (21.81) |
|  | 2021 | 28.289 | to | 28.097 | 34335 | 969336 | 0.77 | 1.40 | to | 1.45 | 12.71 | to | 12.66 |
| CVT S&P Midcap 400 Index Class F | CVT S&P Midcap 400 Index Class F | CVT S&P Midcap 400 Index Class F | CVT S&P Midcap 400 Index Class F | CVT S&P Midcap 400 Index Class F |  |  |  |  |  |  |  |  |  |
|  | 2025 | 36.227 | to | 35.908 | 18932 | 682852 | 1.11 | 1.40 | to | 1.45 | 5.44 | to | 5.38 |
|  | 2024 | 34.359 | to | 34.074 | 20335 | 695929 | 1.17 | 1.40 | to | 1.45 | 11.71 | to | 11.66 |
|  | 2023 | 30.757 | to | 30.517 | 21934 | 672400 | 1.16 | 1.40 | to | 1.45 | 14.28 | to | 14.23 |
|  | 2022 | 26.913 | to | 26.716 | 24889 | 668111 | 0.90 | 1.40 | to | 1.45 | (14.71) | to | (14.75) |
|  | 2021 | 31.554 | to | 31.339 | 27791 | 875155 | 0.84 | 1.40 | to | 1.45 | 22.45 | to | 22.38 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| DWS CROCI International VIP - Class A | DWS CROCI International VIP - Class A | DWS CROCI International VIP - Class A | DWS CROCI International VIP - Class A | DWS CROCI International VIP - Class A |  |  |  |  |  |  |  |  |  |
|  | 2025 | 29.788 | to | $13.877 | 46073 | $1353405 | 2.69% | 1.40% | to | 1.45% | 42.90% | to | 42.83% |
|  | 2024 | 20.846 | to | 9.716 | 49148 | 1009119 | 3.41 | 1.40 | to | 1.45 | 1.02 | to | 0.97 |
|  | 2023 | 20.636 | to | 9.623 | 59998 | 1221608 | 3.30 | 1.40 | to | 1.45 | 17.30 | to | 17.24 |
|  | 2022 | 17.593 | to | 8.208 | 65295 | 1134673 | 3.22 | 1.40 | to | 1.45 | (14.39) | to | (14.44) |
|  | 2021 | 20.550 | to | 9.593 | 71979 | 1450055 | 2.51 | 1.40 | to | 1.45 | 7.72 | to | 7.67 |
| DWS Global Income Builder VIP A | DWS Global Income Builder VIP A | DWS Global Income Builder VIP A | DWS Global Income Builder VIP A | DWS Global Income Builder VIP A |  |  |  |  |  |  |  |  |  |
|  | 2025 | 51.965 | to | 21.471 | 114634 | 5481242 | 4.49 | 1.40 | to | 1.45 | 14.19 | to | 14.13 |
|  | 2024 | 45.508 | to | 18.812 | 122280 | 5129192 | 3.53 | 1.40 | to | 1.45 | 7.58 | to | 7.52 |
|  | 2023 | 42.302 | to | 17.496 | 134677 | 5270483 | 3.17 | 1.40 | to | 1.45 | 13.30 | to | 13.24 |
|  | 2022 | 37.336 | to | 15.450 | 143133 | 4952286 | 2.99 | 1.40 | to | 1.45 | (16.16) | to | (16.20) |
|  | 2021 | 44.534 | to | 18.437 | 166022 | 6768984 | 2.33 | 1.40 | to | 1.45 | 9.41 | to | 9.35 |
| DWS Small Cap Index A Share | DWS Small Cap Index A Share | DWS Small Cap Index A Share | DWS Small Cap Index A Share | DWS Small Cap Index A Share |  |  |  |  |  |  |  |  |  |
|  | 2025 | 35.449 | to | 32.740 | 5267 | 178372 | 1.35 | 1.00 | to | 1.45 | 11.52 | to | 11.01 |
|  | 2024 | 31.788 | to | 29.492 | 5292 | 161095 | 1.16 | 1.00 | to | 1.45 | 10.04 | to | 9.55 |
|  | 2023 | 28.888 | to | 26.922 | 5316 | 147454 | 0.95 | 1.00 | to | 1.45 | 15.60 | to | 15.08 |
|  | 2022 | 24.990 | to | 23.394 | 6128 | 148034 | 0.90 | 1.00 | to | 1.45 | (21.42) | to | (21.78) |
|  | 2021 | 31.804 | to | 29.907 | 7244 | 223859 | 0.68 | 1.00 | to | 1.45 | 13.36 | to | 12.85 |
| Federated Hermes High Income Bond | Federated Hermes High Income Bond | Federated Hermes High Income Bond | Federated Hermes High Income Bond | Federated Hermes High Income Bond |  |  |  |  |  |  |  |  |  |
|  | 2025 | 37.232 | to | 30.214 | 20079 | 735872 | 6.08 | 1.40 | to | 1.45 | 6.72 | to | 6.67 |
|  | 2024 | 34.886 | to | 28.324 | 22469 | 771422 | 5.61 | 1.40 | to | 1.45 | 4.78 | to | 4.73 |
|  | 2023 | 33.293 | to | 27.044 | 24938 | 817982 | 6.82 | 1.40 | to | 1.45 | 11.15 | to | 11.10 |
|  | 2022 | 29.953 | to | 24.343 | 34984 | 1036445 | 5.81 | 1.40 | to | 1.45 | (13.00) | to | (13.05) |
|  | 2021 | 34.430 | to | 27.995 | 41101 | 1399620 | 5.06 | 1.40 | to | 1.45 | 3.39 | to | 3.34 |
| Federated Hermes Managed Volatility II | Federated Hermes Managed Volatility II | Federated Hermes Managed Volatility II | Federated Hermes Managed Volatility II | Federated Hermes Managed Volatility II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 37.117 | to | 37.117 | 10360 | 384547 | 2.94 | 1.40 | to | 1.40 | 5.54 | to | 5.54 |
|  | 2024 | 35.167 | to | 35.167 | 11351 | 399163 | 2.23 | 1.40 | to | 1.40 | 13.94 | to | 13.94 |
|  | 2023 | 30.864 | to | 30.864 | 13564 | 418631 | 1.89 | 1.40 | to | 1.40 | 7.17 | to | 7.17 |
|  | 2022 | 28.798 | to | 28.798 | 14123 | 406732 | 1.89 | 1.40 | to | 1.40 | (14.95) | to | (14.95) |
|  | 2021 | 33.860 | to | 33.860 | 14779 | 500419 | 1.84 | 1.40 | to | 1.40 | 16.86 | to | 16.86 |
| Fidelity Asset Manager 50% Portfolio<sup>1</sup> | Fidelity Asset Manager 50% Portfolio<sup>1</sup> | Fidelity Asset Manager 50% Portfolio<sup>1</sup> | Fidelity Asset Manager 50% Portfolio<sup>1</sup> | Fidelity Asset Manager 50% Portfolio<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 31.474 | to | 31.474 | 2408 | 75798 | 2.19 | 1.40 | to | 1.40 | 13.39 | to | 13.39 |
|  | 2024 | 27.758 | to | 27.758 | 2902 | 80564 | 2.37 | 1.40 | to | 1.40 | 6.98 | to | 6.98 |
|  | 2023 | 25.947 | to | 25.947 | 3790 | 98341 | 2.39 | 1.40 | to | 1.40 | 11.38 | to | 11.38 |
|  | 2022 | 23.296 | to | 23.296 | 3789 | 88276 | 2.10 | 1.40 | to | 1.40 | (16.12) | to | (16.12) |
|  | 2021 | 27.772 | to | 27.772 | 3787 | 105170 | 1.57 | 1.40 | to | 1.40 | 8.39 | to | 8.39 |
| Fidelity Contrafund | Fidelity Contrafund | Fidelity Contrafund | Fidelity Contrafund | Fidelity Contrafund |  |  |  |  |  |  |  |  |  |
|  | 2025 | 108.350 | to | 103.754 | 290205 | 31308430 | 0.14 | 1.40 | to | 1.60 | 19.79 | to | 19.55 |
|  | 2024 | 90.447 | to | 86.784 | 341250 | 30749182 | 0.18 | 1.40 | to | 1.60 | 31.92 | to | 31.66 |
|  | 2023 | 68.561 | to | 65.917 | 390403 | 26670424 | 0.48 | 1.40 | to | 1.60 | 31.60 | to | 31.34 |
|  | 2022 | 52.097 | to | 50.187 | 421772 | 21896466 | 0.49 | 1.40 | to | 1.60 | (27.34) | to | (27.48) |
|  | 2021 | 71.696 | to | 69.206 | 468488 | 33478685 | 0.06 | 1.40 | to | 1.60 | 26.06 | to | 25.81 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Fidelity Contrafund II<sup>1</sup> | Fidelity Contrafund II<sup>1</sup> | Fidelity Contrafund II<sup>1</sup> | Fidelity Contrafund II<sup>1</sup> | Fidelity Contrafund II<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | $68.189 | to | $68.189 |  | $— | —% | 1.25% | to | 1.25% | 19.69% | to | 19.69% |
|  | 2024 | 56.971 | to | 56.971 |  |  |  | 1.25 | to | 1.25 | 31.78 | to | 31.78 |
|  | 2023 | 43.231 | to | 43.231 |  |  |  | 1.25 | to | 1.25 | 31.47 | to | 31.47 |
|  | 2022 | 32.883 | to | 32.883 | 213 | 7016 | 0.27 | 1.25 | to | 1.25 | (27.40) | to | (27.40) |
|  | 2021 | 45.294 | to | 45.294 | 213 | 9661 | 0.03 | 1.25 | to | 1.25 | 25.93 | to | 25.93 |
| Fidelity Equity-Income | Fidelity Equity-Income | Fidelity Equity-Income | Fidelity Equity-Income | Fidelity Equity-Income |  |  |  |  |  |  |  |  |  |
|  | 2025 | 54.419 | to | 52.110 | 68570 | 3727897 | 1.70 | 1.40 | to | 1.60 | 17.37 | to | 17.13 |
|  | 2024 | 46.367 | to | 44.489 | 82016 | 3799268 | 1.71 | 1.40 | to | 1.60 | 13.74 | to | 13.51 |
|  | 2023 | 40.767 | to | 39.194 | 90124 | 3670753 | 1.84 | 1.40 | to | 1.60 | 9.11 | to | 8.90 |
|  | 2022 | 37.362 | to | 35.992 | 101487 | 3786035 | 1.84 | 1.40 | to | 1.60 | (6.28) | to | (6.46) |
|  | 2021 | 39.864 | to | 38.479 | 108006 | 4297368 | 1.87 | 1.40 | to | 1.60 | 23.16 | to | 22.91 |
| Fidelity Freedom Funds 2010 II | Fidelity Freedom Funds 2010 II | Fidelity Freedom Funds 2010 II | Fidelity Freedom Funds 2010 II | Fidelity Freedom Funds 2010 II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 18.519 | to | 18.519 | 8001 | 148165 | 1.24 | 1.40 | to | 1.40 | 8.72 | to | 8.72 |
|  | 2024 | 17.033 | to | 17.033 | 27530 | 468916 | 3.38 | 1.40 | to | 1.40 | 3.68 | to | 3.68 |
|  | 2023 | 16.428 | to | 16.428 | 27881 | 458026 | 3.37 | 1.40 | to | 1.40 | 7.57 | to | 7.57 |
|  | 2022 | 15.272 | to | 15.272 | 37400 | 571172 | 1.94 | 1.40 | to | 1.40 | (14.86) | to | (14.86) |
|  | 2021 | 17.937 | to | 17.937 | 37776 | 677603 | 0.82 | 1.40 | to | 1.40 | 4.13 | to | 4.13 |
| Fidelity Freedom Funds 2015 II | Fidelity Freedom Funds 2015 II | Fidelity Freedom Funds 2015 II | Fidelity Freedom Funds 2015 II | Fidelity Freedom Funds 2015 II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 20.081 | to | 20.081 | 5074 | 101890 | 2.81 | 1.40 | to | 1.40 | 10.11 | to | 10.11 |
|  | 2024 | 18.238 | to | 18.238 | 5294 | 96558 | 3.04 | 1.40 | to | 1.40 | 4.73 | to | 4.73 |
|  | 2023 | 17.415 | to | 17.415 | 5525 | 96220 | 3.12 | 1.40 | to | 1.40 | 9.11 | to | 9.11 |
|  | 2022 | 15.961 | to | 15.961 | 7623 | 121667 | 1.79 | 1.40 | to | 1.40 | (15.97) | to | (15.97) |
|  | 2021 | 18.995 | to | 18.995 | 17410 | 330706 | 0.84 | 1.40 | to | 1.40 | 5.90 | to | 5.90 |
| Fidelity Freedom Funds 2020 II | Fidelity Freedom Funds 2020 II | Fidelity Freedom Funds 2020 II | Fidelity Freedom Funds 2020 II | Fidelity Freedom Funds 2020 II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 21.383 | to | 21.195 | 18332 | 391695 | 2.49 | 1.40 | to | 1.45 | 11.42 | to | 11.37 |
|  | 2024 | 19.191 | to | 19.031 | 19993 | 383433 | 2.77 | 1.40 | to | 1.45 | 5.90 | to | 5.85 |
|  | 2023 | 18.121 | to | 17.979 | 18440 | 334128 | 3.21 | 1.40 | to | 1.45 | 10.67 | to | 10.61 |
|  | 2022 | 16.374 | to | 16.255 | 33842 | 552382 | 1.82 | 1.40 | to | 1.45 | (17.14) | to | (17.18) |
|  | 2021 | 19.760 | to | 19.626 | 46782 | 922601 | 0.85 | 1.40 | to | 1.45 | 7.74 | to | 7.69 |
| Fidelity Freedom Funds 2025 II | Fidelity Freedom Funds 2025 II | Fidelity Freedom Funds 2025 II | Fidelity Freedom Funds 2025 II | Fidelity Freedom Funds 2025 II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 23.598 | to | 23.390 | 29042 | 685044 | 2.31 | 1.40 | to | 1.45 | 12.65 | to | 12.59 |
|  | 2024 | 20.948 | to | 20.775 | 40690 | 850287 | 2.35 | 1.40 | to | 1.45 | 6.77 | to | 6.72 |
|  | 2023 | 19.620 | to | 19.467 | 38798 | 759585 | 2.68 | 1.40 | to | 1.45 | 11.75 | to | 11.70 |
|  | 2022 | 17.557 | to | 17.428 | 42370 | 742504 | 1.95 | 1.40 | to | 1.45 | (17.79) | to | (17.84) |
|  | 2021 | 21.357 | to | 21.212 | 52176 | 1112782 | 0.86 | 1.40 | to | 1.45 | 9.01 | to | 8.96 |
| Fidelity Freedom Funds 2030 II | Fidelity Freedom Funds 2030 II | Fidelity Freedom Funds 2030 II | Fidelity Freedom Funds 2030 II | Fidelity Freedom Funds 2030 II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 24.873 | to | 24.654 | 68205 | 1696476 | 2.11 | 1.40 | to | 1.45 | 13.56 | to | 13.50 |
|  | 2024 | 21.902 | to | 21.721 | 74954 | 1641675 | 1.99 | 1.40 | to | 1.45 | 7.61 | to | 7.56 |
|  | 2023 | 20.353 | to | 20.194 | 78482 | 1597361 | 2.27 | 1.40 | to | 1.45 | 12.87 | to | 12.82 |
|  | 2022 | 18.032 | to | 17.900 | 80322 | 1448386 | 1.79 | 1.40 | to | 1.45 | (18.24) | to | (18.28) |
|  | 2021 | 22.054 | to | 21.904 | 98627 | 2175154 | 0.87 | 1.40 | to | 1.45 | 10.51 | to | 10.46 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Fidelity Freedom Funds 2050 II | Fidelity Freedom Funds 2050 II | Fidelity Freedom Funds 2050 II | Fidelity Freedom Funds 2050 II | Fidelity Freedom Funds 2050 II |  |  |  |  |  |  |  |  |  |
|  | 2025 | $39.623 | to | $39.623 | 952 | $37727 | 1.24% | 1.25% | to | 1.25% | 18.01% | to | 18.01% |
|  | 2024 | 33.575 | to | 33.575 | 952 | 31969 | 1.09 | 1.25 | to | 1.25 | 12.13 | to | 12.13 |
|  | 2023 | 29.942 | to | 29.942 | 952 | 28510 | 1.28 | 1.25 | to | 1.25 | 17.72 | to | 17.72 |
|  | 2022 | 25.436 | to | 25.436 | 952 | 24221 | 1.43 | 1.25 | to | 1.25 | (19.48) | to | (19.48) |
|  | 2021 | 31.590 | to | 31.590 | 952 | 30081 | 0.71 | 1.25 | to | 1.25 | 16.05 | to | 16.05 |
| Fidelity Freedom Income Fund II | Fidelity Freedom Income Fund II | Fidelity Freedom Income Fund II | Fidelity Freedom Income Fund II | Fidelity Freedom Income Fund II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 15.113 | to | 14.980 | 4594 | 69014 | 2.39 | 1.40 | to | 1.45 | 7.79 | to | 7.73 |
|  | 2024 | 14.021 | to | 13.905 | 6856 | 95741 | 3.41 | 1.40 | to | 1.45 | 2.74 | to | 2.70 |
|  | 2023 | 13.647 | to | 13.540 | 7718 | 104892 | 4.02 | 1.40 | to | 1.45 | 6.16 | to | 6.10 |
|  | 2022 | 12.855 | to | 12.761 | 8225 | 105337 | 2.04 | 1.40 | to | 1.45 | (13.48) | to | (13.52) |
|  | 2021 | 14.858 | to | 14.756 | 10560 | 156441 | 0.71 | 1.40 | to | 1.45 | 1.60 | to | 1.54 |
| Fidelity Government Money Market Portfolio - Initial Class | Fidelity Government Money Market Portfolio - Initial Class | Fidelity Government Money Market Portfolio - Initial Class | Fidelity Government Money Market Portfolio - Initial Class | Fidelity Government Money Market Portfolio - Initial Class | Fidelity Government Money Market Portfolio - Initial Class |  |  |  |  |  |  |  |  |
|  | 2025 | 10.704 | to | 10.030 | 2917 | 29988 | 0.34 | 1.10 | to | 1.45 | 3.00 | to | 2.64 |
|  | 2024 | 10.392 | to | 9.772 | 7920 | 79329 | 4.99 | 1.10 | to | 1.45 | 3.94 | to | 3.58 |
|  | 2023 | 9.998 | to | 9.434 | 8994 | 86858 | 4.88 | 1.10 | to | 1.45 | 3.76 | to | 3.39 |
|  | 2022 | 9.636 | to | 9.125 | 2551 | 23794 | 1.59 | 1.10 | to | 1.45 | 0.32 | to | (0.02) |
|  | 2021 | 9.605 | to | 9.127 | 2204 | 20531 |  | 1.10 | to | 1.45 | (1.08) | to | (1.43) |
| Fidelity Government Money Market Portfolio - Service Class II | Fidelity Government Money Market Portfolio - Service Class II | Fidelity Government Money Market Portfolio - Service Class II | Fidelity Government Money Market Portfolio - Service Class II | Fidelity Government Money Market Portfolio - Service Class II | Fidelity Government Money Market Portfolio - Service Class II |  |  |  |  |  |  |  |  |
|  | 2025 | 9.817 | to | 9.994 | 526720 | 5487019 | 3.80 | 1.25 | to | 1.60 | 2.57 | to | 2.22 |
|  | 2024 | 9.571 | to | 9.777 | 596827 | 6069759 | 4.73 | 1.25 | to | 1.60 | 3.53 | to | 3.17 |
|  | 2023 | 9.245 | to | 9.477 | 593880 | 5841672 | 4.55 | 1.25 | to | 1.60 | 3.34 | to | 2.98 |
|  | 2022 | 8.946 | to | 9.203 | 506678 | 4830204 | 1.21 | 1.25 | to | 1.60 | 0.01 | to | (0.34) |
|  | 2021 | 8.945 | to | 9.234 | 565152 | 5394672 | 0.01 | 1.25 | to | 1.60 | (1.24) | to | (1.58) |
| Fidelity Growth | Fidelity Growth | Fidelity Growth | Fidelity Growth | Fidelity Growth |  |  |  |  |  |  |  |  |  |
|  | 2025 | 54.044 | to | 80.488 | 305055 | 16421952 | 0.28 | 1.40 | to | 1.75 | 13.30 | to | 12.91 |
|  | 2024 | 47.698 | to | 71.287 | 354882 | 16867459 |  | 1.40 | to | 1.75 | 28.57 | to | 28.12 |
|  | 2023 | 37.100 | to | 55.642 | 391170 | 14465115 | 0.12 | 1.40 | to | 1.75 | 34.35 | to | 33.88 |
|  | 2022 | 27.614 | to | 41.561 | 433881 | 11946532 | 0.62 | 1.40 | to | 1.75 | (25.51) | to | (25.76) |
|  | 2021 | 37.069 | to | 55.985 | 531343 | 19636445 |  | 1.40 | to | 1.75 | 21.50 | to | 21.08 |
| Fidelity Growth & Income | Fidelity Growth & Income | Fidelity Growth & Income | Fidelity Growth & Income | Fidelity Growth & Income |  |  |  |  |  |  |  |  |  |
|  | 2025 | 51.154 | to | 48.984 | 111296 | 5654744 | 1.51 | 1.40 | to | 1.60 | 19.81 | to | 19.58 |
|  | 2024 | 42.695 | to | 40.965 | 122296 | 5187634 | 1.43 | 1.40 | to | 1.60 | 20.51 | to | 20.26 |
|  | 2023 | 35.429 | to | 34.063 | 134628 | 4740420 | 1.65 | 1.40 | to | 1.60 | 17.07 | to | 16.84 |
|  | 2022 | 30.262 | to | 29.153 | 142545 | 4287936 | 1.61 | 1.40 | to | 1.60 | (6.27) | to | (6.46) |
|  | 2021 | 32.286 | to | 31.165 | 153518 | 4924982 | 2.32 | 1.40 | to | 1.60 | 24.20 | to | 23.95 |
| Fidelity Growth Opportunities | Fidelity Growth Opportunities | Fidelity Growth Opportunities | Fidelity Growth Opportunities | Fidelity Growth Opportunities |  |  |  |  |  |  |  |  |  |
|  | 2025 | 87.717 | to | 77.335 | 62945 | 5493640 |  | 1.40 | to | 1.45 | 20.25 | to | 20.19 |
|  | 2024 | 72.943 | to | 64.342 | 69306 | 5031880 |  | 1.40 | to | 1.45 | 36.95 | to | 36.88 |
|  | 2023 | 53.263 | to | 47.006 | 84193 | 4459356 |  | 1.40 | to | 1.45 | 43.63 | to | 43.56 |
|  | 2022 | 37.083 | to | 32.743 | 88257 | 3253658 |  | 1.40 | to | 1.45 | (39.01) | to | (39.04) |
|  | 2021 | 60.801 | to | 53.712 | 92461 | 5588930 |  | 1.40 | to | 1.45 | 10.39 | to | 10.33 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Fidelity Index 500 | Fidelity Index 500 | Fidelity Index 500 | Fidelity Index 500 | Fidelity Index 500 |  |  |  |  |  |  |  |  |  |
|  | 2025 | $51.184 | to | $47.963 | 33345 | $1666084 | 1.17% | 1.10% | to | 1.45% | 16.49% | to | 16.08% |
|  | 2024 | 43.939 | to | 41.318 | 33401 | 1434520 | 1.29 | 1.10 | to | 1.45 | 23.52 | to | 23.09 |
|  | 2023 | 35.571 | to | 33.567 | 34035 | 1184080 | 1.47 | 1.10 | to | 1.45 | 24.82 | to | 24.38 |
|  | 2022 | 28.498 | to | 26.987 | 36427 | 1015912 | 1.46 | 1.10 | to | 1.45 | (19.11) | to | (19.39) |
|  | 2021 | 35.229 | to | 33.477 | 39510 | 1365779 | 1.00 | 1.10 | to | 1.45 | 27.17 | to | 26.73 |
| Fidelity Mid Cap II | Fidelity Mid Cap II | Fidelity Mid Cap II | Fidelity Mid Cap II | Fidelity Mid Cap II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 50.011 | to | 47.985 | 61916 | 3092088 | 0.23 | 1.40 | to | 1.60 | 9.94 | to | 9.72 |
|  | 2024 | 45.490 | to | 43.734 | 76097 | 3456486 | 0.33 | 1.40 | to | 1.60 | 15.54 | to | 15.30 |
|  | 2023 | 39.372 | to | 37.929 | 92186 | 3624262 | 0.38 | 1.40 | to | 1.60 | 13.21 | to | 12.98 |
|  | 2022 | 34.778 | to | 33.570 | 98207 | 3410499 | 0.25 | 1.40 | to | 1.60 | (16.15) | to | (16.32) |
|  | 2021 | 41.475 | to | 40.115 | 114468 | 4740785 | 0.36 | 1.40 | to | 1.60 | 23.57 | to | 23.32 |
| Fidelity Overseas II | Fidelity Overseas II | Fidelity Overseas II | Fidelity Overseas II | Fidelity Overseas II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 16.856 | to | 16.708 | 9135 | 153965 | 1.33 | 1.40 | to | 1.45 | 18.39 | to | 18.33 |
|  | 2024 | 14.238 | to | 14.120 | 11833 | 168463 | 1.34 | 1.40 | to | 1.45 | 3.34 | to | 3.29 |
|  | 2023 | 13.778 | to | 13.670 | 12230 | 168428 | 0.82 | 1.40 | to | 1.45 | 18.55 | to | 18.49 |
|  | 2022 | 11.622 | to | 11.537 | 11850 | 137665 | 0.58 | 1.40 | to | 1.45 | (25.72) | to | (25.76) |
|  | 2021 | 15.647 | to | 15.541 | 21252 | 332483 | 0.33 | 1.40 | to | 1.45 | 17.73 | to | 17.67 |
| Franklin Allocation VIP Fund - Class 2 | Franklin Allocation VIP Fund - Class 2 | Franklin Allocation VIP Fund - Class 2 | Franklin Allocation VIP Fund - Class 2 | Franklin Allocation VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | 20.692 | to | 20.692 | 15238 | 315296 | 1.99 | 1.40 | to | 1.40 | 11.03 | to | 11.03 |
|  | 2024 | 18.636 | to | 18.636 | 15073 | 280888 | 2.10 | 1.40 | to | 1.40 | 7.63 | to | 7.63 |
|  | 2023 | 17.315 | to | 17.315 | 16420 | 284318 | 1.47 | 1.40 | to | 1.40 | 13.02 | to | 13.02 |
|  | 2022 | 15.320 | to | 15.320 | 21131 | 323719 | 1.64 | 1.40 | to | 1.40 | (17.17) | to | (17.17) |
|  | 2021 | 18.495 | to | 18.495 | 22218 | 410911 | 1.70 | 1.40 | to | 1.40 | 10.13 | to | 10.13 |
| Franklin DynaTech VIP Fund - Class 2 | Franklin DynaTech VIP Fund - Class 2 | Franklin DynaTech VIP Fund - Class 2 | Franklin DynaTech VIP Fund - Class 2 | Franklin DynaTech VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | 60.373 | to | 58.529 | 7425 | 448199 |  | 1.40 | to | 1.55 | 16.49 | to | 16.32 |
|  | 2024 | 51.826 | to | 50.318 | 7704 | 399195 |  | 1.40 | to | 1.55 | 28.62 | to | 28.43 |
|  | 2023 | 40.293 | to | 39.180 | 15129 | 609550 |  | 1.40 | to | 1.55 | 41.78 | to | 41.57 |
|  | 2022 | 28.419 | to | 27.675 | 15223 | 432590 |  | 1.40 | to | 1.55 | (40.79) | to | (40.88) |
|  | 2021 | 47.998 | to | 46.812 | 16355 | 784974 |  | 1.40 | to | 1.55 | 14.53 | to | 14.36 |
| Franklin Income VIP Fund - Class 2 | Franklin Income VIP Fund - Class 2 | Franklin Income VIP Fund - Class 2 | Franklin Income VIP Fund - Class 2 | Franklin Income VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | 26.474 | to | 25.381 | 90735 | 2399552 | 5.36 | 1.40 | to | 1.60 | 10.99 | to | 10.77 |
|  | 2024 | 23.852 | to | 22.913 | 113110 | 2693335 | 5.23 | 1.40 | to | 1.60 | 5.70 | to | 5.49 |
|  | 2023 | 22.565 | to | 21.720 | 119312 | 2688010 | 5.08 | 1.40 | to | 1.60 | 7.12 | to | 6.91 |
|  | 2022 | 21.065 | to | 20.317 | 130321 | 2741385 | 4.95 | 1.40 | to | 1.60 | (6.79) | to | (6.97) |
|  | 2021 | 22.599 | to | 21.840 | 147718 | 3334673 | 4.74 | 1.40 | to | 1.60 | 15.13 | to | 14.91 |
| Franklin Mutual Shares VIP Fund - Class 2 | Franklin Mutual Shares VIP Fund - Class 2 | Franklin Mutual Shares VIP Fund - Class 2 | Franklin Mutual Shares VIP Fund - Class 2 | Franklin Mutual Shares VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | 31.550 | to | 28.731 | 91952 | 2897664 | 1.99 | 1.40 | to | 1.55 | 9.97 | to | 9.80 |
|  | 2024 | 28.690 | to | 26.166 | 100292 | 2874280 | 1.93 | 1.40 | to | 1.55 | 9.72 | to | 9.55 |
|  | 2023 | 26.149 | to | 23.885 | 113436 | 2963464 | 1.87 | 1.40 | to | 1.55 | 11.89 | to | 11.73 |
|  | 2022 | 23.370 | to | 21.378 | 126775 | 2960292 | 1.76 | 1.40 | to | 1.55 | (8.71) | to | (8.86) |
|  | 2021 | 25.601 | to | 23.455 | 150007 | 3837690 | 2.86 | 1.40 | to | 1.55 | 17.51 | to | 17.34 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Franklin Small Cap Value VIP Fund - Class 2 | Franklin Small Cap Value VIP Fund - Class 2 | Franklin Small Cap Value VIP Fund - Class 2 | Franklin Small Cap Value VIP Fund - Class 2 | Franklin Small Cap Value VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | $40.293 | to | $38.660 | 72989 | $2938111 | 1.12% | 1.40% | to | 1.60% | 6.16% | to | 5.94% |
|  | 2024 | 37.956 | to | 36.491 | 87360 | 3312179 | 0.94 | 1.40 | to | 1.60 | 10.15 | to | 9.92 |
|  | 2023 | 34.460 | to | 33.197 | 110645 | 3809407 | 0.53 | 1.40 | to | 1.60 | 11.18 | to | 10.96 |
|  | 2022 | 30.994 | to | 29.918 | 123329 | 3819076 | 1.01 | 1.40 | to | 1.60 | (11.31) | to | (11.49) |
|  | 2021 | 34.948 | to | 33.801 | 140586 | 4909084 | 1.01 | 1.40 | to | 1.60 | 23.62 | to | 23.37 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | Franklin Small-Mid Cap Growth VIP Fund - Class 2 | Franklin Small-Mid Cap Growth VIP Fund - Class 2 | Franklin Small-Mid Cap Growth VIP Fund - Class 2 | Franklin Small-Mid Cap Growth VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | 28.782 | to | 40.674 | 88918 | 2554828 |  | 1.40 | to | 1.55 | 1.09 | to | 0.94 |
|  | 2024 | 28.471 | to | 40.296 | 97950 | 2784047 |  | 1.40 | to | 1.55 | 9.48 | to | 9.32 |
|  | 2023 | 26.005 | to | 36.861 | 116409 | 3024939 |  | 1.40 | to | 1.55 | 24.98 | to | 24.80 |
|  | 2022 | 20.807 | to | 29.537 | 128528 | 2672460 |  | 1.40 | to | 1.55 | (34.61) | to | (34.71) |
|  | 2021 | 31.821 | to | 45.240 | 136949 | 4354289 |  | 1.40 | to | 1.55 | 8.49 | to | 8.32 |
| Franklin U.S. Government Securities VIP Fund - Class 2 | Franklin U.S. Government Securities VIP Fund - Class 2 | Franklin U.S. Government Securities VIP Fund - Class 2 | Franklin U.S. Government Securities VIP Fund - Class 2 | Franklin U.S. Government Securities VIP Fund - Class 2 | Franklin U.S. Government Securities VIP Fund - Class 2 |  |  |  |  |  |  |  |  |
|  | 2025 | 15.512 | to | 15.015 | 168106 | 2570469 | 3.31 | 1.40 | to | 1.55 | 5.22 | to | 5.05 |
|  | 2024 | 14.743 | to | 14.293 | 185312 | 2694194 | 3.13 | 1.40 | to | 1.55 | (0.05) | to | (0.20) |
|  | 2023 | 14.751 | to | 14.322 | 211974 | 3080763 | 2.72 | 1.40 | to | 1.55 | 3.02 | to | 2.87 |
|  | 2022 | 14.319 | to | 13.923 | 233030 | 3289389 | 2.41 | 1.40 | to | 1.55 | (11.00) | to | (11.14) |
|  | 2021 | 16.089 | to | 15.668 | 272822 | 4322065 | 2.40 | 1.40 | to | 1.55 | (3.19) | to | (3.34) |
| Invesco American Franchise Fund I | Invesco American Franchise Fund I | Invesco American Franchise Fund I | Invesco American Franchise Fund I | Invesco American Franchise Fund I |  |  |  |  |  |  |  |  |  |
|  | 2025 | 45.107 | to | 44.665 | 133748 | 6031507 |  | 1.40 | to | 1.45 | 10.11 | to | 10.06 |
|  | 2024 | 40.964 | to | 40.584 | 145919 | 5976136 |  | 1.40 | to | 1.45 | 33.00 | to | 32.94 |
|  | 2023 | 30.800 | to | 30.529 | 167815 | 5167427 |  | 1.40 | to | 1.45 | 38.98 | to | 38.91 |
|  | 2022 | 22.162 | to | 21.978 | 175663 | 3892200 |  | 1.40 | to | 1.45 | (32.07) | to | (32.10) |
|  | 2021 | 32.625 | to | 32.370 | 192835 | 6289410 |  | 1.40 | to | 1.45 | 10.37 | to | 10.32 |
| Invesco American Franchise Fund II<sup>1</sup> | Invesco American Franchise Fund II<sup>1</sup> | Invesco American Franchise Fund II<sup>1</sup> | Invesco American Franchise Fund II<sup>1</sup> | Invesco American Franchise Fund II<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 53.179 | to | 52.632 | 11074 | 588690 |  | 1.40 | to | 1.45 | 9.84 | to | 9.78 |
|  | 2024 | 48.415 | to | 47.941 | 14167 | 685706 |  | 1.40 | to | 1.45 | 32.68 | to | 32.61 |
|  | 2023 | 36.490 | to | 36.151 | 18213 | 664426 |  | 1.40 | to | 1.45 | 38.65 | to | 38.58 |
|  | 2022 | 26.318 | to | 26.086 | 23292 | 612867 |  | 1.40 | to | 1.45 | (32.25) | to | (32.28) |
|  | 2021 | 38.846 | to | 38.523 | 23994 | 931861 |  | 1.40 | to | 1.45 | 10.10 | to | 10.04 |
| Invesco Discovery Mid Cap Growth Fund I | Invesco Discovery Mid Cap Growth Fund I | Invesco Discovery Mid Cap Growth Fund I | Invesco Discovery Mid Cap Growth Fund I | Invesco Discovery Mid Cap Growth Fund I |  |  |  |  |  |  |  |  |  |
|  | 2025 | 57.274 | to | 56.629 | 2978 | 170488 |  | 1.40 | to | 1.45 | 3.33 | to | 3.28 |
|  | 2024 | 55.427 | to | 54.829 | 2996 | 165985 |  | 1.40 | to | 1.45 | 22.50 | to | 22.43 |
|  | 2023 | 45.248 | to | 44.783 | 3139 | 141964 |  | 1.40 | to | 1.45 | 11.58 | to | 11.53 |
|  | 2022 | 40.551 | to | 40.154 | 3303 | 133885 |  | 1.40 | to | 1.45 | (31.94) | to | (31.97) |
|  | 2021 | 59.582 | to | 59.028 | 3324 | 198017 |  | 1.40 | to | 1.45 | 17.44 | to | 17.38 |
| Invesco Discovery Mid Cap Growth Fund II | Invesco Discovery Mid Cap Growth Fund II | Invesco Discovery Mid Cap Growth Fund II | Invesco Discovery Mid Cap Growth Fund II | Invesco Discovery Mid Cap Growth Fund II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 31.882 | to | 30.644 | 8463 | 269660 |  | 1.40 | to | 1.60 | 3.08 | to | 2.88 |
|  | 2024 | 30.929 | to | 29.787 | 9195 | 284211 |  | 1.40 | to | 1.60 | 22.19 | to | 21.94 |
|  | 2023 | 25.312 | to | 24.427 | 8672 | 219341 |  | 1.40 | to | 1.60 | 11.29 | to | 11.07 |
|  | 2022 | 22.745 | to | 21.993 | 8387 | 190619 |  | 1.40 | to | 1.60 | (32.09) | to | (32.22) |
|  | 2021 | 33.492 | to | 32.450 | 8204 | 274567 |  | 1.40 | to | 1.60 | 17.14 | to | 16.91 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Invesco EQV International Equity I | Invesco EQV International Equity I | Invesco EQV International Equity I | Invesco EQV International Equity I | Invesco EQV International Equity I |  |  |  |  |  |  |  |  |  |
|  | 2025 | $42.418 | to | $30.900 | 8324 | $352367 | 1.40% | 1.40% | to | 1.55% | 14.88% | to | 14.71% |
|  | 2024 | 36.924 | to | 26.938 | 10067 | 371066 | 1.73 | 1.40 | to | 1.55 | (0.79) | to | (0.94) |
|  | 2023 | 37.217 | to | 27.193 | 10809 | 401628 | 0.19 | 1.40 | to | 1.55 | 16.51 | to | 16.33 |
|  | 2022 | 31.944 | to | 23.375 | 13727 | 434999 | 1.64 | 1.40 | to | 1.55 | (19.44) | to | (19.56) |
|  | 2021 | 39.652 | to | 29.060 | 14671 | 576840 | 1.25 | 1.40 | to | 1.55 | 4.42 | to | 4.26 |
| Invesco EQV International Equity II | Invesco EQV International Equity II | Invesco EQV International Equity II | Invesco EQV International Equity II | Invesco EQV International Equity II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 20.603 | to | 19.224 | 147286 | 3032983 | 1.17 | 1.40 | to | 1.75 | 14.61 | to | 14.22 |
|  | 2024 | 17.976 | to | 16.831 | 163726 | 2941638 | 1.43 | 1.40 | to | 1.75 | (1.06) | to | (1.41) |
|  | 2023 | 18.168 | to | 17.071 | 202048 | 3669047 |  | 1.40 | to | 1.75 | 16.23 | to | 15.83 |
|  | 2022 | 15.631 | to | 14.738 | 232265 | 3628904 | 1.37 | 1.40 | to | 1.75 | (19.63) | to | (19.92) |
|  | 2021 | 19.450 | to | 18.404 | 263655 | 5126024 | 1.03 | 1.40 | to | 1.75 | 4.14 | to | 3.78 |
| Invesco Global Real Estate | Invesco Global Real Estate | Invesco Global Real Estate | Invesco Global Real Estate | Invesco Global Real Estate |  |  |  |  |  |  |  |  |  |
|  | 2025 | 35.354 | to | 22.217 | 36309 | 1273891 | 1.99 | 1.40 | to | 1.75 | 6.35 | to | 5.98 |
|  | 2024 | 33.243 | to | 20.963 | 40097 | 1323322 | 2.46 | 1.40 | to | 1.75 | (3.17) | to | (3.52) |
|  | 2023 | 34.332 | to | 21.727 | 47380 | 1615517 | 1.48 | 1.40 | to | 1.75 | 7.53 | to | 7.16 |
|  | 2022 | 31.927 | to | 20.275 | 50567 | 1601452 | 2.88 | 1.40 | to | 1.75 | (25.98) | to | (26.24) |
|  | 2021 | 43.131 | to | 27.486 | 53225 | 2276000 | 2.64 | 1.40 | to | 1.75 | 23.96 | to | 23.53 |
| Invesco Health Care | Invesco Health Care | Invesco Health Care | Invesco Health Care | Invesco Health Care |  |  |  |  |  |  |  |  |  |
|  | 2025 | 47.174 | to | 46.642 | 5074 | 239131 |  | 1.40 | to | 1.45 | 13.72 | to | 13.67 |
|  | 2024 | 41.481 | to | 41.034 | 5666 | 234847 |  | 1.40 | to | 1.45 | 2.71 | to | 2.66 |
|  | 2023 | 40.386 | to | 39.970 | 5946 | 239839 |  | 1.40 | to | 1.45 | 1.59 | to | 1.54 |
|  | 2022 | 39.752 | to | 39.363 | 6066 | 240844 |  | 1.40 | to | 1.45 | (14.52) | to | (14.56) |
|  | 2021 | 46.505 | to | 46.072 | 6773 | 314367 | 0.20 | 1.40 | to | 1.45 | 10.74 | to | 10.68 |
| Invesco Small Cap Equity II | Invesco Small Cap Equity II | Invesco Small Cap Equity II | Invesco Small Cap Equity II | Invesco Small Cap Equity II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 31.259 | to | 30.984 | 8541 | 266966 |  | 1.40 | to | 1.45 | 6.34 | to | 6.28 |
|  | 2024 | 29.396 | to | 29.152 | 7233 | 212614 |  | 1.40 | to | 1.45 | 16.20 | to | 16.14 |
|  | 2023 | 25.297 | to | 25.100 | 9237 | 233675 |  | 1.40 | to | 1.45 | 14.65 | to | 14.59 |
|  | 2022 | 22.065 | to | 21.904 | 9753 | 215216 |  | 1.40 | to | 1.45 | (21.83) | to | (21.87) |
|  | 2021 | 28.228 | to | 28.036 | 10396 | 293475 |  | 1.40 | to | 1.45 | 18.43 | to | 18.37 |
| LVIP American Century Balanced Fund Standard Class II | LVIP American Century Balanced Fund Standard Class II | LVIP American Century Balanced Fund Standard Class II | LVIP American Century Balanced Fund Standard Class II | LVIP American Century Balanced Fund Standard Class II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 34.324 | to | 32.868 | 186490 | 6223362 | 1.83 | 1.40 | to | 1.60 | 8.09 | to | 7.88 |
|  | 2024 | 31.755 | to | 30.468 | 210392 | 6506302 | 1.98 | 1.40 | to | 1.60 | 10.50 | to | 10.28 |
|  | 2023 | 28.738 | to | 27.629 | 234115 | 6559353 | 1.91 | 1.40 | to | 1.60 | 14.80 | to | 14.56 |
|  | 2022 | 25.034 | to | 24.117 | 269784 | 6599294 | 1.21 | 1.40 | to | 1.60 | (18.41) | to | (18.58) |
|  | 2021 | 30.684 | to | 29.619 | 278483 | 8327011 | 0.72 | 1.40 | to | 1.60 | 14.16 | to | 13.93 |
| LVIP American Century Inflation Protection Fund Service | LVIP American Century Inflation Protection Fund Service | LVIP American Century Inflation Protection Fund Service | LVIP American Century Inflation Protection Fund Service | LVIP American Century Inflation Protection Fund Service |  |  |  |  |  |  |  |  |  |
|  | 2025 | 13.647 | to | 13.230 | 100847 | 1374725 | 7.19 | 1.40 | to | 1.55 | 4.86 | to | 4.69 |
|  | 2024 | 13.015 | to | 12.637 | 107303 | 1395175 | 3.53 | 1.40 | to | 1.55 | 0.12 | to | (0.02) |
|  | 2023 | 12.999 | to | 12.640 | 123704 | 1606418 | 3.28 | 1.40 | to | 1.55 | 1.96 | to | 1.81 |
|  | 2022 | 12.749 | to | 12.415 | 147912 | 1883910 | 4.94 | 1.40 | to | 1.55 | (14.28) | to | (14.41) |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| LVIP American Century Inflation Protection Fund Service (Continue) | LVIP American Century Inflation Protection Fund Service (Continue) | LVIP American Century Inflation Protection Fund Service (Continue) | LVIP American Century Inflation Protection Fund Service (Continue) | LVIP American Century Inflation Protection Fund Service (Continue) |  |  |  |  |  |  |  |  |  |
|  | 2021 | $14.873 | to | $14.506 | 166237 | $2469777 | 3.06% | 1.40% | to | 1.55% | 4.79% | to | 4.64% |
| LVIP American Century International Fund Standard Class II | LVIP American Century International Fund Standard Class II | LVIP American Century International Fund Standard Class II | LVIP American Century International Fund Standard Class II | LVIP American Century International Fund Standard Class II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 20.118 | to | 19.265 | 185223 | 3685166 | 1.15 | 1.40 | to | 1.60 | 14.37 | to | 14.15 |
|  | 2024 | 17.590 | to | 16.877 | 217759 | 3773285 | 1.62 | 1.40 | to | 1.60 | 1.17 | to | 0.96 |
|  | 2023 | 17.386 | to | 16.716 | 240703 | 4125494 | 1.41 | 1.40 | to | 1.60 | 11.01 | to | 10.79 |
|  | 2022 | 15.662 | to | 15.088 | 259475 | 4010112 | 1.50 | 1.40 | to | 1.60 | (25.80) | to | (25.95) |
|  | 2021 | 21.108 | to | 20.375 | 313522 | 6535364 | 0.16 | 1.40 | to | 1.60 | 7.24 | to | 7.03 |
| LVIP American Century Large Company Value Fund Service | LVIP American Century Large Company Value Fund Service | LVIP American Century Large Company Value Fund Service | LVIP American Century Large Company Value Fund Service | LVIP American Century Large Company Value Fund Service |  |  |  |  |  |  |  |  |  |
|  | 2025 | 32.867 | to | 31.535 | 10941 | 359308 | 1.20 | 1.40 | to | 1.60 | 13.63 | to | 13.40 |
|  | 2024 | 28.925 | to | 27.809 | 15367 | 443769 | 2.44 | 1.40 | to | 1.60 | 8.97 | to | 8.76 |
|  | 2023 | 26.543 | to | 25.570 | 15774 | 418056 | 2.45 | 1.40 | to | 1.60 | 2.34 | to | 2.13 |
|  | 2022 | 25.937 | to | 25.036 | 17311 | 448393 | 1.93 | 1.40 | to | 1.60 | (1.84) | to | (2.03) |
|  | 2021 | 26.422 | to | 25.556 | 16858 | 444812 | 1.27 | 1.40 | to | 1.60 | 19.84 | to | 19.60 |
| LVIP American Century Ultra Fund Service Class | LVIP American Century Ultra Fund Service Class | LVIP American Century Ultra Fund Service Class | LVIP American Century Ultra Fund Service Class | LVIP American Century Ultra Fund Service Class |  |  |  |  |  |  |  |  |  |
|  | 2025 | 75.330 | to | 74.626 | 5397 | 405859 |  | 1.40 | to | 1.45 | 11.11 | to | 11.05 |
|  | 2024 | 67.799 | to | 67.199 | 6051 | 409568 |  | 1.40 | to | 1.45 | 26.82 | to | 26.76 |
|  | 2023 | 53.460 | to | 53.013 | 7878 | 420644 |  | 1.40 | to | 1.45 | 41.28 | to | 41.21 |
|  | 2022 | 37.839 | to | 37.541 | 10147 | 383596 |  | 1.40 | to | 1.45 | (33.40) | to | (33.43) |
|  | 2021 | 56.815 | to | 56.396 | 13521 | 766521 |  | 1.40 | to | 1.45 | 21.29 | to | 21.22 |
| LVIP American Century Ultra Fund Standard Class II | LVIP American Century Ultra Fund Standard Class II | LVIP American Century Ultra Fund Standard Class II | LVIP American Century Ultra Fund Standard Class II | LVIP American Century Ultra Fund Standard Class II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 94.512 | to | 72.295 | 4788 | 451066 |  | 1.40 | to | 1.75 | 11.27 | to | 10.89 |
|  | 2024 | 84.936 | to | 65.198 | 5223 | 442212 |  | 1.40 | to | 1.75 | 27.00 | to | 26.55 |
|  | 2023 | 66.880 | to | 51.519 | 6288 | 418960 |  | 1.40 | to | 1.75 | 41.52 | to | 41.03 |
|  | 2022 | 47.258 | to | 36.531 | 7253 | 341400 |  | 1.40 | to | 1.75 | (33.31) | to | (33.55) |
|  | 2021 | 70.867 | to | 54.973 | 7534 | 531822 |  | 1.40 | to | 1.75 | 21.45 | to | 21.02 |
| LVIP American Century Value Fund Standard Class II | LVIP American Century Value Fund Standard Class II | LVIP American Century Value Fund Standard Class II | LVIP American Century Value Fund Standard Class II | LVIP American Century Value Fund Standard Class II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 48.009 | to | 47.445 | 43758 | 2096838 | 1.57 | 1.40 | to | 1.45 | 14.41 | to | 14.35 |
|  | 2024 | 41.963 | to | 41.490 | 48865 | 2047110 | 2.82 | 1.40 | to | 1.45 | 7.95 | to | 7.90 |
|  | 2023 | 38.872 | to | 38.453 | 58600 | 2274943 | 2.37 | 1.40 | to | 1.45 | 7.59 | to | 7.53 |
|  | 2022 | 36.131 | to | 35.760 | 63617 | 2295688 | 2.06 | 1.40 | to | 1.45 | (0.85) | to | (0.90) |
|  | 2021 | 36.442 | to | 36.086 | 77079 | 2804988 | 1.73 | 1.40 | to | 1.45 | 22.78 | to | 22.72 |
| LVIP JPMorgan Mid Cap Value Fund - Standard Class | LVIP JPMorgan Mid Cap Value Fund - Standard Class | LVIP JPMorgan Mid Cap Value Fund - Standard Class | LVIP JPMorgan Mid Cap Value Fund - Standard Class | LVIP JPMorgan Mid Cap Value Fund - Standard Class |  |  |  |  |  |  |  |  |  |
|  | 2025 | 63.132 | to | 60.454 | 59828 | 3732616 | 1.08 | 1.40 | to | 1.60 | 3.26 | to | 3.05 |
|  | 2024 | 61.139 | to | 58.663 | 67187 | 4063851 | 1.19 | 1.40 | to | 1.60 | 12.69 | to | 12.46 |
|  | 2023 | 54.255 | to | 52.162 | 76501 | 4109973 | 3.13 | 1.40 | to | 1.60 | 9.37 | to | 9.16 |
|  | 2022 | 49.605 | to | 47.786 | 83186 | 4087660 | 0.96 | 1.40 | to | 1.60 | (9.43) | to | (9.61) |
|  | 2021 | 54.771 | to | 52.869 | 89141 | 4837312 | 0.90 | 1.40 | to | 1.60 | 28.08 | to | 27.83 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| LVIP JPMorgan U.S. Equity Fund - Standard Class | LVIP JPMorgan U.S. Equity Fund - Standard Class | LVIP JPMorgan U.S. Equity Fund - Standard Class | LVIP JPMorgan U.S. Equity Fund - Standard Class | LVIP JPMorgan U.S. Equity Fund - Standard Class |  |  |  |  |  |  |  |  |  |
|  | 2025 | $50.513 | to | $48.432 | 58173 | $2898347 | 0.45% | 1.40% | to | 1.45% | 12.95% | to | 12.89% |
|  | 2024 | 44.722 | to | 42.902 | 63219 | 2788334 | 0.51 | 1.40 | to | 1.45 | 22.25 | to | 22.19 |
|  | 2023 | 36.582 | to | 35.110 | 67502 | 2436550 | 1.57 | 1.40 | to | 1.45 | 25.40 | to | 25.33 |
|  | 2022 | 29.172 | to | 28.013 | 69757 | 2008294 | 0.53 | 1.40 | to | 1.45 | (19.82) | to | (19.86) |
|  | 2021 | 36.385 | to | 34.956 | 74472 | 2673140 | 0.78 | 1.40 | to | 1.45 | 27.55 | to | 27.48 |
| Morningstar Aggressive Growth ETF Asset Allocation Class I | Morningstar Aggressive Growth ETF Asset Allocation Class I | Morningstar Aggressive Growth ETF Asset Allocation Class I | Morningstar Aggressive Growth ETF Asset Allocation Class I | Morningstar Aggressive Growth ETF Asset Allocation Class I | Morningstar Aggressive Growth ETF Asset Allocation Class I |  |  |  |  |  |  |  |  |
|  | 2025 | 26.418 | to | 25.219 | 7753 | 199991 | 1.39 | 1.20 | to | 1.45 | 18.89 | to | 18.59 |
|  | 2024 | 22.220 | to | 21.265 | 7754 | 168460 | 1.51 | 1.20 | to | 1.45 | 13.47 | to | 13.19 |
|  | 2023 | 19.582 | to | 18.787 | 7756 | 148694 | 1.85 | 1.20 | to | 1.45 | 15.71 | to | 15.42 |
|  | 2022 | 16.924 | to | 16.277 | 8050 | 133520 | 1.75 | 1.20 | to | 1.45 | (13.96) | to | (14.17) |
|  | 2021 | 19.669 | to | 18.965 | 8223 | 158714 | 1.31 | 1.20 | to | 1.45 | 17.18 | to | 16.89 |
| Morningstar Aggressive Growth ETF Asset Allocation Class II | Morningstar Aggressive Growth ETF Asset Allocation Class II | Morningstar Aggressive Growth ETF Asset Allocation Class II | Morningstar Aggressive Growth ETF Asset Allocation Class II | Morningstar Aggressive Growth ETF Asset Allocation Class II | Morningstar Aggressive Growth ETF Asset Allocation Class II |  |  |  |  |  |  |  |  |
|  | 2025 | 26.402 | to | 26.402 | 48706 | 1285923 | 1.14 | 1.40 | to | 1.40 | 18.34 | to | 18.34 |
|  | 2024 | 22.311 | to | 22.311 | 49762 | 1110251 | 1.23 | 1.40 | to | 1.40 | 12.97 | to | 12.97 |
|  | 2023 | 19.749 | to | 19.749 | 57889 | 1143263 | 1.60 | 1.40 | to | 1.40 | 15.26 | to | 15.26 |
|  | 2022 | 17.135 | to | 17.135 | 69019 | 1182644 | 1.51 | 1.40 | to | 1.40 | (14.38) | to | (14.38) |
|  | 2021 | 20.012 | to | 20.012 | 69022 | 1381293 | 1.01 | 1.40 | to | 1.40 | 16.69 | to | 16.69 |
| Morningstar Balanced ETF Asset Allocation Class I | Morningstar Balanced ETF Asset Allocation Class I | Morningstar Balanced ETF Asset Allocation Class I | Morningstar Balanced ETF Asset Allocation Class I | Morningstar Balanced ETF Asset Allocation Class I |  |  |  |  |  |  |  |  |  |
|  | 2025 | 21.454 | to | 20.481 | 16849 | 354739 | 2.19 | 1.20 | to | 1.45 | 13.70 | to | 13.42 |
|  | 2024 | 18.869 | to | 18.058 | 18844 | 348964 | 0.99 | 1.20 | to | 1.45 | 9.18 | to | 8.90 |
|  | 2023 | 17.283 | to | 16.582 | 40459 | 693572 | 2.33 | 1.20 | to | 1.45 | 11.77 | to | 11.49 |
|  | 2022 | 15.463 | to | 14.873 | 40465 | 620941 | 2.03 | 1.20 | to | 1.45 | (13.65) | to | (13.86) |
|  | 2021 | 17.907 | to | 17.266 | 40741 | 724260 | 1.59 | 1.20 | to | 1.45 | 9.68 | to | 9.40 |
| Morningstar Balanced ETF Asset Allocation Class II | Morningstar Balanced ETF Asset Allocation Class II | Morningstar Balanced ETF Asset Allocation Class II | Morningstar Balanced ETF Asset Allocation Class II | Morningstar Balanced ETF Asset Allocation Class II | Morningstar Balanced ETF Asset Allocation Class II |  |  |  |  |  |  |  |  |
|  | 2025 | 20.310 | to | 20.131 | 135637 | 2754491 | 1.83 | 1.40 | to | 1.45 | 13.22 | to | 13.17 |
|  | 2024 | 17.938 | to | 17.789 | 148458 | 2662836 | 1.75 | 1.40 | to | 1.45 | 8.63 | to | 8.58 |
|  | 2023 | 16.513 | to | 16.384 | 160719 | 2653294 | 1.88 | 1.40 | to | 1.45 | 11.26 | to | 11.20 |
|  | 2022 | 14.842 | to | 14.734 | 185910 | 2758378 | 1.65 | 1.40 | to | 1.45 | (14.09) | to | (14.14) |
|  | 2021 | 17.277 | to | 17.160 | 199028 | 3437217 | 1.26 | 1.40 | to | 1.45 | 9.25 | to | 9.20 |
| Morningstar Conservative ETF Asset Allocation Class I | Morningstar Conservative ETF Asset Allocation Class I | Morningstar Conservative ETF Asset Allocation Class I | Morningstar Conservative ETF Asset Allocation Class I | Morningstar Conservative ETF Asset Allocation Class I | Morningstar Conservative ETF Asset Allocation Class I |  |  |  |  |  |  |  |  |
|  | 2025 | 15.375 | to | 14.407 | 50786 | 768511 | 2.93 | 1.10 | to | 1.45 | 7.93 | to | 7.55 |
|  | 2024 | 14.246 | to | 13.396 | 50902 | 714285 | 2.37 | 1.10 | to | 1.45 | 4.35 | to | 3.98 |
|  | 2023 | 13.652 | to | 12.883 | 59401 | 797299 | 2.59 | 1.10 | to | 1.45 | 7.02 | to | 6.65 |
|  | 2022 | 12.757 | to | 12.080 | 59677 | 749440 | 1.77 | 1.10 | to | 1.45 | (12.58) | to | (12.89) |
|  | 2021 | 14.593 | to | 13.867 | 43951 | 628586 | 1.55 | 1.10 | to | 1.45 | 1.40 | to | 1.03 |
| Morningstar Conservative ETF Asset Allocation Class II | Morningstar Conservative ETF Asset Allocation Class II | Morningstar Conservative ETF Asset Allocation Class II | Morningstar Conservative ETF Asset Allocation Class II | Morningstar Conservative ETF Asset Allocation Class II | Morningstar Conservative ETF Asset Allocation Class II |  |  |  |  |  |  |  |  |
|  | 2025 | 13.374 | to | 13.256 | 9011 | 120227 | 2.30 | 1.40 | to | 1.45 | 7.31 | to | 7.26 |
|  | 2024 | 12.463 | to | 12.359 | 11814 | 146982 | 2.35 | 1.40 | to | 1.45 | 3.82 | to | 3.76 |
|  | 2023 | 12.004 | to | 11.911 | 9517 | 114249 | 1.98 | 1.40 | to | 1.45 | 6.34 | to | 6.30 |
|  | 2022 | 11.288 | to | 11.205 | 12721 | 143594 | 1.30 | 1.40 | to | 1.45 | (13.04) | to | (13.09) |
|  | 2021 | 12.981 | to | 12.892 | 17736 | 230079 | 1.30 | 1.40 | to | 1.45 | 0.85 | to | 0.81 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Morningstar Growth ETF Asset Allocation Class I | Morningstar Growth ETF Asset Allocation Class I | Morningstar Growth ETF Asset Allocation Class I | Morningstar Growth ETF Asset Allocation Class I | Morningstar Growth ETF Asset Allocation Class I |  |  |  |  |  |  |  |  |  |
|  | 2025 | $24.528 | to | $23.415 | 5394 | $128675 | 1.71% | 1.20% | to | 1.45% | 16.74% | to | 16.45% |
|  | 2024 | 21.010 | to | 20.107 | 5394 | 110386 | 1.71 | 1.20 | to | 1.45 | 11.53 | to | 11.25 |
|  | 2023 | 18.838 | to | 18.074 | 5394 | 99128 | 2.03 | 1.20 | to | 1.45 | 14.23 | to | 13.95 |
|  | 2022 | 16.491 | to | 15.862 | 5482 | 88315 | 1.85 | 1.20 | to | 1.45 | (14.00) | to | (14.21) |
|  | 2021 | 19.176 | to | 18.490 | 5487 | 102933 | 1.37 | 1.20 | to | 1.45 | 13.72 | to | 13.44 |
| Morningstar Growth ETF Asset Allocation Class II | Morningstar Growth ETF Asset Allocation Class II | Morningstar Growth ETF Asset Allocation Class II | Morningstar Growth ETF Asset Allocation Class II | Morningstar Growth ETF Asset Allocation Class II |  |  |  |  |  |  |  |  |  |
|  | 2025 | 23.941 | to | 23.730 | 87373 | 2091796 | 1.36 | 1.40 | to | 1.45 | 16.27 | to | 16.22 |
|  | 2024 | 20.590 | to | 20.419 | 102507 | 2110645 | 1.51 | 1.40 | to | 1.45 | 11.09 | to | 11.04 |
|  | 2023 | 18.534 | to | 18.389 | 102756 | 1904461 | 1.70 | 1.40 | to | 1.45 | 13.67 | to | 13.61 |
|  | 2022 | 16.305 | to | 16.186 | 120735 | 1968562 | 1.50 | 1.40 | to | 1.45 | (14.45) | to | (14.50) |
|  | 2021 | 19.060 | to | 18.930 | 141128 | 2689931 | 1.16 | 1.40 | to | 1.45 | 13.28 | to | 13.23 |
| Morningstar Income & Growth ETF Asset Allocation Class I | Morningstar Income & Growth ETF Asset Allocation Class I | Morningstar Income & Growth ETF Asset Allocation Class I | Morningstar Income & Growth ETF Asset Allocation Class I | Morningstar Income & Growth ETF Asset Allocation Class I | Morningstar Income & Growth ETF Asset Allocation Class I |  |  |  |  |  |  |  |  |
|  | 2025 | 18.071 | to | 17.251 | 3045 | 53520 | 2.51 | 1.20 | to | 1.45 | 10.60 | to | 10.32 |
|  | 2024 | 16.339 | to | 15.637 | 3750 | 59674 | 2.51 | 1.20 | to | 1.45 | 6.90 | to | 6.64 |
|  | 2023 | 15.284 | to | 14.664 | 4504 | 67150 | 2.36 | 1.20 | to | 1.45 | 9.66 | to | 9.39 |
|  | 2022 | 13.937 | to | 13.405 | 5483 | 74651 | 2.05 | 1.20 | to | 1.45 | (13.36) | to | (13.57) |
|  | 2021 | 16.086 | to | 15.510 | 6310 | 99302 | 1.67 | 1.20 | to | 1.45 | 5.39 | to | 5.12 |
| Morningstar Income & Growth ETF Asset Allocation Class II | Morningstar Income & Growth ETF Asset Allocation Class II | Morningstar Income & Growth ETF Asset Allocation Class II | Morningstar Income & Growth ETF Asset Allocation Class II | Morningstar Income & Growth ETF Asset Allocation Class II | Morningstar Income & Growth ETF Asset Allocation Class II |  |  |  |  |  |  |  |  |
|  | 2025 | 16.635 | to | 16.489 | 29543 | 491018 | 2.20 | 1.40 | to | 1.45 | 10.15 | to | 10.10 |
|  | 2024 | 15.102 | to | 14.977 | 40640 | 613381 | 2.34 | 1.40 | to | 1.45 | 6.46 | to | 6.40 |
|  | 2023 | 14.186 | to | 14.076 | 38335 | 543710 | 2.14 | 1.40 | to | 1.45 | 9.06 | to | 9.01 |
|  | 2022 | 13.007 | to | 12.912 | 38272 | 497674 | 1.63 | 1.40 | to | 1.45 | (13.76) | to | (13.80) |
|  | 2021 | 15.082 | to | 14.979 | 42413 | 639150 | 1.35 | 1.40 | to | 1.45 | 4.99 | to | 4.93 |
| Neuberger Berman AMT Mid Cap Growth Class S | Neuberger Berman AMT Mid Cap Growth Class S | Neuberger Berman AMT Mid Cap Growth Class S | Neuberger Berman AMT Mid Cap Growth Class S | Neuberger Berman AMT Mid Cap Growth Class S |  |  |  |  |  |  |  |  |  |
|  | 2025 | 36.843 | to | 36.519 | 10582 | 389853 |  | 1.40 | to | 1.45 | 3.77 | to | 3.72 |
|  | 2024 | 35.504 | to | 35.210 | 10961 | 389141 |  | 1.40 | to | 1.45 | 22.03 | to | 21.97 |
|  | 2023 | 29.095 | to | 28.868 | 12380 | 360184 |  | 1.40 | to | 1.45 | 16.33 | to | 16.27 |
|  | 2022 | 25.011 | to | 24.828 | 12350 | 308889 |  | 1.40 | to | 1.45 | (29.82) | to | (29.85) |
|  | 2021 | 35.636 | to | 35.393 | 14421 | 513901 |  | 1.40 | to | 1.45 | 11.16 | to | 11.10 |
| Neuberger Berman AMT Mid Cap Intrinsic Value Class S | Neuberger Berman AMT Mid Cap Intrinsic Value Class S | Neuberger Berman AMT Mid Cap Intrinsic Value Class S | Neuberger Berman AMT Mid Cap Intrinsic Value Class S | Neuberger Berman AMT Mid Cap Intrinsic Value Class S | Neuberger Berman AMT Mid Cap Intrinsic Value Class S |  |  |  |  |  |  |  |  |
|  | 2025 | 25.437 | to | 25.213 | 1177 | 29935 |  | 1.40 | to | 1.45 | 9.80 | to | 9.74 |
|  | 2024 | 23.167 | to | 22.975 | 999 | 23156 | 0.28 | 1.40 | to | 1.45 | 7.15 | to | 7.09 |
|  | 2023 | 21.622 | to | 21.453 | 851 | 18398 | 0.46 | 1.40 | to | 1.45 | 9.15 | to | 9.10 |
|  | 2022 | 19.809 | to | 19.664 | 1185 | 23479 | 0.16 | 1.40 | to | 1.45 | (11.20) | to | (11.24) |
|  | 2021 | 22.307 | to | 22.155 | 1209 | 26978 | 0.24 | 1.40 | to | 1.45 | 30.67 | to | 30.61 |
| Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | Neuberger Berman AMT Quality Equity Class S<sup>1</sup> | Neuberger Berman AMT Quality Equity Class S<sup>1</sup> |  |  |  |  |  |  |  |  |
|  | 2025 | 43.588 | to | 43.204 | 4086 | 178041 |  | 1.40 | to | 1.45 | 11.86 | to | 11.80 |
|  | 2024 | 38.967 | to | 38.644 | 3834 | 149335 |  | 1.40 | to | 1.45 | 23.77 | to | 23.70 |
|  | 2023 | 31.484 | to | 31.239 | 4166 | 131120 | 0.08 | 1.40 | to | 1.45 | 24.81 | to | 24.75 |
|  | 2022 | 25.225 | to | 25.041 | 4068 | 102560 | 0.12 | 1.40 | to | 1.45 | (19.78) | to | (19.82) |
|  | 2021 | 31.446 | to | 31.231 | 5353 | 168281 | 0.17 | 1.40 | to | 1.45 | 21.45 | to | 21.39 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| PIMCO All Asset Portfolio Advisor | PIMCO All Asset Portfolio Advisor | PIMCO All Asset Portfolio Advisor | PIMCO All Asset Portfolio Advisor | PIMCO All Asset Portfolio Advisor |  |  |  |  |  |  |  |  |  |
|  | 2025 | $18.809 | to | $20.960 | 8377 | $174845 | 4.41% | 1.25% | to | 1.40% | 12.78% | to | 12.60% |
|  | 2024 | 16.678 | to | 18.614 | 10724 | 198949 | 6.28 | 1.25 | to | 1.40 | 2.28 | to | 2.13 |
|  | 2023 | 16.306 | to | 18.226 | 12591 | 228839 | 2.82 | 1.25 | to | 1.40 | 6.68 | to | 6.52 |
|  | 2022 | 15.285 | to | 17.111 | 13317 | 227236 | 7.43 | 1.25 | to | 1.40 | (12.97) | to | (13.09) |
|  | 2021 | 17.562 | to | 19.688 | 16549 | 325091 | 10.76 | 1.25 | to | 1.40 | 14.60 | to | 14.43 |
| PIMCO CommodityRealReturn Strat. Administrative Class | PIMCO CommodityRealReturn Strat. Administrative Class | PIMCO CommodityRealReturn Strat. Administrative Class | PIMCO CommodityRealReturn Strat. Administrative Class | PIMCO CommodityRealReturn Strat. Administrative Class | PIMCO CommodityRealReturn Strat. Administrative Class |  |  |  |  |  |  |  |  |
|  | 2025 | 9.286 | to | 9.002 | 80875 | 750511 | 2.84 | 1.40 | to | 1.55 | 17.14 | to | 16.97 |
|  | 2024 | 7.927 | to | 7.696 | 89903 | 712246 | 2.19 | 1.40 | to | 1.55 | 2.71 | to | 2.54 |
|  | 2023 | 7.718 | to | 7.505 | 98606 | 760648 | 16.33 | 1.40 | to | 1.55 | (9.14) | to | (9.26) |
|  | 2022 | 8.494 | to | 8.271 | 106914 | 907549 | 21.97 | 1.40 | to | 1.55 | 7.11 | to | 6.94 |
|  | 2021 | 7.930 | to | 7.734 | 139449 | 1105302 | 4.19 | 1.40 | to | 1.55 | 31.49 | to | 31.29 |
| PIMCO Total Return Portfolio Advisor | PIMCO Total Return Portfolio Advisor | PIMCO Total Return Portfolio Advisor | PIMCO Total Return Portfolio Advisor | PIMCO Total Return Portfolio Advisor |  |  |  |  |  |  |  |  |  |
|  | 2025 | 12.792 | to | 12.792 | 947 | 12120 | 3.97 | 1.25 | to | 1.25 | 7.43 | to | 7.43 |
|  | 2024 | 11.907 | to | 11.907 | 85 | 1007 | 3.92 | 1.25 | to | 1.25 | 1.16 | to | 1.16 |
|  | 2023 | 11.771 | to | 11.771 | 27962 | 329152 | 3.47 | 1.25 | to | 1.25 | 4.51 | to | 4.51 |
|  | 2022 | 11.263 | to | 11.263 | 102127 | 1150230 | 2.60 | 1.25 | to | 1.25 | (15.45) | to | (15.45) |
|  | 2021 | 13.321 | to | 13.321 | 20950 | 279065 | 1.71 | 1.25 | to | 1.25 | (2.59) | to | (2.59) |
| Templeton Developing Markets VIP Fund - Class 2 | Templeton Developing Markets VIP Fund - Class 2 | Templeton Developing Markets VIP Fund - Class 2 | Templeton Developing Markets VIP Fund - Class 2 | Templeton Developing Markets VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | 37.355 | to | 33.081 | 33236 | 1242651 | 0.54 | 1.40 | to | 1.55 | 44.24 | to | 44.02 |
|  | 2024 | 25.898 | to | 22.969 | 36442 | 944739 | 3.91 | 1.40 | to | 1.55 | 6.16 | to | 6.00 |
|  | 2023 | 24.395 | to | 21.668 | 43611 | 1065185 | 2.06 | 1.40 | to | 1.55 | 11.06 | to | 10.89 |
|  | 2022 | 21.965 | to | 19.540 | 47235 | 1038729 | 2.66 | 1.40 | to | 1.55 | (23.07) | to | (23.18) |
|  | 2021 | 28.551 | to | 25.436 | 51717 | 1479549 | 0.88 | 1.40 | to | 1.55 | (7.05) | to | (7.19) |
| Templeton Global Bond VIP Fund - Class 2 | Templeton Global Bond VIP Fund - Class 2 | Templeton Global Bond VIP Fund - Class 2 | Templeton Global Bond VIP Fund - Class 2 | Templeton Global Bond VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | 14.892 | to | 13.852 | 97670 | 1449824 |  | 1.40 | to | 1.75 | 14.12 | to | 13.72 |
|  | 2024 | 13.049 | to | 12.181 | 109332 | 1422598 |  | 1.40 | to | 1.75 | (12.61) | to | (12.92) |
|  | 2023 | 14.932 | to | 13.988 | 127604 | 1899729 |  | 1.40 | to | 1.75 | 1.45 | to | 1.11 |
|  | 2022 | 14.718 | to | 13.835 | 140528 | 2062850 |  | 1.40 | to | 1.75 | (6.27) | to | (6.60) |
|  | 2021 | 15.702 | to | 14.812 | 152839 | 2394001 |  | 1.40 | to | 1.75 | (6.31) | to | (6.64) |
| Templeton Growth VIP Fund - Class 2 | Templeton Growth VIP Fund - Class 2 | Templeton Growth VIP Fund - Class 2 | Templeton Growth VIP Fund - Class 2 | Templeton Growth VIP Fund - Class 2 |  |  |  |  |  |  |  |  |  |
|  | 2025 | 25.730 | to | 23.621 | 98214 | 2526070 | 0.89 | 1.40 | to | 1.55 | 22.11 | to | 21.92 |
|  | 2024 | 21.072 | to | 19.374 | 109853 | 2314016 | 0.96 | 1.40 | to | 1.55 | 3.93 | to | 3.77 |
|  | 2023 | 20.275 | to | 18.670 | 123469 | 2502547 | 3.38 | 1.40 | to | 1.55 | 19.33 | to | 19.16 |
|  | 2022 | 16.990 | to | 15.668 | 135992 | 2309918 | 0.16 | 1.40 | to | 1.55 | (12.73) | to | (12.86) |
|  | 2021 | 19.469 | to | 17.981 | 151538 | 2949599 | 1.13 | 1.40 | to | 1.55 | 3.41 | to | 3.26 |
| Vanguard Balanced | Vanguard Balanced | Vanguard Balanced | Vanguard Balanced | Vanguard Balanced |  |  |  |  |  |  |  |  |  |
|  | 2025 | 34.765 | to | 34.872 | 8489 | 287746 | 2.10 | 1.10 | to | 1.50 | 15.19 | to | 14.73 |
|  | 2024 | 30.181 | to | 30.395 | 8629 | 254310 | 2.13 | 1.10 | to | 1.50 | 13.54 | to | 13.09 |
|  | 2023 | 26.582 | to | 26.878 | 9369 | 242845 | 2.05 | 1.10 | to | 1.50 | 13.08 | to | 12.63 |
|  | 2022 | 23.507 | to | 23.864 | 9776 | 224407 | 1.82 | 1.10 | to | 1.50 | (15.24) | to | (15.58) |
|  | 2021 | 27.733 | to | 28.267 | 10124 | 274949 | 1.46 | 1.10 | to | 1.50 | 17.71 | to | 17.24 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Vanguard High Yield Bond | Vanguard High Yield Bond | Vanguard High Yield Bond | Vanguard High Yield Bond | Vanguard High Yield Bond |  |  |  |  |  |  |  |  |  |
|  | 2025 | $21.971 | to | $20.383 | 25285 | $532384 | 6.56% | 1.10% | to | 1.50% | 7.99% | to | 7.56% |
|  | 2024 | 20.345 | to | 18.951 | 42421 | 819014 | 5.45 | 1.10 | to | 1.50 | 5.28 | to | 4.86 |
|  | 2023 | 19.325 | to | 18.073 | 32331 | 597924 | 5.37 | 1.10 | to | 1.50 | 10.45 | to | 10.01 |
|  | 2022 | 17.497 | to | 16.429 | 19319 | 329280 | 3.00 | 1.10 | to | 1.50 | (10.35) | to | (10.71) |
|  | 2021 | 19.517 | to | 18.399 | 79863 | 1484932 | 3.86 | 1.10 | to | 1.50 | 2.54 | to | 2.13 |
| Vanguard International | Vanguard International | Vanguard International | Vanguard International | Vanguard International |  |  |  |  |  |  |  |  |  |
|  | 2025 | 25.402 | to | 29.170 | 25005 | 615464 | 0.54 | 1.00 | to | 1.50 | 18.77 | to | 18.18 |
|  | 2024 | 21.387 | to | 24.682 | 39414 | 826154 | 1.11 | 1.00 | to | 1.50 | 7.92 | to | 7.38 |
|  | 2023 | 19.817 | to | 22.985 | 39408 | 765517 | 1.51 | 1.00 | to | 1.50 | 13.51 | to | 12.95 |
|  | 2022 | 17.458 | to | 20.350 | 44927 | 770456 | 1.32 | 1.00 | to | 1.50 | (30.82) | to | (31.16) |
|  | 2021 | 25.234 | to | 29.561 | 48871 | 1212369 | 0.29 | 1.00 | to | 1.50 | (2.52) | to | (3.01) |
| Vanguard Mid-Cap Index | Vanguard Mid-Cap Index | Vanguard Mid-Cap Index | Vanguard Mid-Cap Index | Vanguard Mid-Cap Index |  |  |  |  |  |  |  |  |  |
|  | 2025 | 37.731 | to | 48.850 | 22516 | 812351 | 1.13 | 1.00 | to | 1.50 | 10.43 | to | 9.88 |
|  | 2024 | 34.167 | to | 44.457 | 25244 | 825926 | 1.38 | 1.00 | to | 1.50 | 13.92 | to | 13.35 |
|  | 2023 | 29.991 | to | 39.220 | 26134 | 751851 | 1.43 | 1.00 | to | 1.50 | 14.68 | to | 14.11 |
|  | 2022 | 26.152 | to | 34.370 | 28277 | 711435 | 1.18 | 1.00 | to | 1.50 | (19.63) | to | (20.03) |
|  | 2021 | 32.538 | to | 42.978 | 38805 | 1222498 | 1.06 | 1.00 | to | 1.50 | 23.12 | to | 22.51 |
| Vanguard Real Estate Index | Vanguard Real Estate Index | Vanguard Real Estate Index | Vanguard Real Estate Index | Vanguard Real Estate Index |  |  |  |  |  |  |  |  |  |
|  | 2025 | 19.769 | to | 29.280 | 8203 | 154872 | 1.90 | 1.00 | to | 1.50 | 2.09 | to | 1.57 |
|  | 2024 | 19.365 | to | 28.826 | 11929 | 223784 | 3.09 | 1.00 | to | 1.50 | 3.69 | to | 3.17 |
|  | 2023 | 18.675 | to | 27.939 | 12470 | 225318 | 2.42 | 1.00 | to | 1.50 | 10.59 | to | 10.04 |
|  | 2022 | 16.887 | to | 25.390 | 12583 | 205523 | 1.94 | 1.00 | to | 1.50 | (27.03) | to | (27.39) |
|  | 2021 | 23.142 | to | 34.969 | 15434 | 346854 | 1.73 | 1.00 | to | 1.50 | 38.82 | to | 38.12 |
| Vanguard Total Bond Market Index | Vanguard Total Bond Market Index | Vanguard Total Bond Market Index | Vanguard Total Bond Market Index | Vanguard Total Bond Market Index |  |  |  |  |  |  |  |  |  |
|  | 2025 | 14.636 | to | 11.645 | 109115 | 1337455 | 2.88 | 1.00 | to | 1.50 | 5.87 | to | 5.35 |
|  | 2024 | 13.824 | to | 11.054 | 114358 | 1388606 | 2.51 | 1.00 | to | 1.50 | 0.22 | to | (0.27) |
|  | 2023 | 13.793 | to | 11.084 | 96598 | 1186646 | 2.58 | 1.00 | to | 1.50 | 4.53 | to | 4.01 |
|  | 2022 | 13.195 | to | 10.657 | 54088 | 694130 | 2.13 | 1.00 | to | 1.50 | (14.07) | to | (14.50) |
|  | 2021 | 15.356 | to | 12.465 | 63576 | 949137 | 1.82 | 1.00 | to | 1.50 | (2.70) | to | (3.18) |
| Vanguard Total Stock Market Index | Vanguard Total Stock Market Index | Vanguard Total Stock Market Index | Vanguard Total Stock Market Index | Vanguard Total Stock Market Index |  |  |  |  |  |  |  |  |  |
|  | 2025 | 49.282 | to | 61.542 | 42107 | 2030805 | 0.89 | 1.00 | to | 1.50 | 15.77 | to | 15.19 |
|  | 2024 | 42.569 | to | 53.425 | 55649 | 2331212 | 1.01 | 1.00 | to | 1.50 | 22.48 | to | 21.86 |
|  | 2023 | 34.757 | to | 43.840 | 57859 | 1974628 | 1.13 | 1.00 | to | 1.50 | 24.70 | to | 24.08 |
|  | 2022 | 27.872 | to | 35.332 | 69103 | 1895012 | 1.37 | 1.00 | to | 1.50 | (20.39) | to | (20.79) |
|  | 2021 | 35.011 | to | 44.603 | 84317 | 2908387 | 1.22 | 1.00 | to | 1.50 | 24.39 | to | 23.77 |
| Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Bond VCT Portfolio Class I<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 44.590 | to | 21.647 | 30985 | 1315536 | 4.51 | 1.40 | to | 1.45 | 7.65 | to | 7.60 |
|  | 2024 | 41.420 | to | 20.118 | 35542 | 1384549 | 4.50 | 1.40 | to | 1.45 | 1.72 | to | 1.67 |
|  | 2023 | 40.718 | to | 19.787 | 38300 | 1470033 | 3.94 | 1.40 | to | 1.45 | 5.47 | to | 5.42 |
|  | 2022 | 38.605 | to | 18.769 | 41087 | 1500887 | 2.42 | 1.40 | to | 1.45 | (15.39) | to | (15.44) |
|  | 2021 | 45.628 | to | 22.195 | 46855 | 1953351 | 2.21 | 1.40 | to | 1.45 | (1.02) | to | (1.07) |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> | Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> | Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> | Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> | Victory Pioneer Equity Income VCT Portfolio Class II<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | $37.750 | to | $36.191 | 68853 | $2598772 | 1.97% | 1.40% | to | 1.60% | 9.59% | to | 9.37% |
|  | 2024 | 34.447 | to | 33.091 | 77765 | 2678365 | 1.90 | 1.40 | to | 1.60 | 9.42 | to | 9.20 |
|  | 2023 | 31.481 | to | 30.303 | 103485 | 3257428 | 1.65 | 1.40 | to | 1.60 | 5.69 | to | 5.48 |
|  | 2022 | 29.787 | to | 28.729 | 123194 | 3669161 | 1.52 | 1.40 | to | 1.60 | (9.22) | to | (9.40) |
|  | 2021 | 32.812 | to | 31.710 | 147694 | 4845571 | 1.21 | 1.40 | to | 1.60 | 23.59 | to | 23.34 |
| Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Fund VCT Portfolio Class I<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 303.170 | to | 47.205 | 167114 | 49327978 | 0.45 | 1.40 | to | 1.45 | 21.64 | to | 21.58 |
|  | 2024 | 249.231 | to | 38.825 | 181788 | 44133636 | 0.71 | 1.40 | to | 1.45 | 20.94 | to | 20.88 |
|  | 2023 | 206.077 | to | 32.119 | 200056 | 40253044 | 0.87 | 1.40 | to | 1.45 | 27.14 | to | 27.08 |
|  | 2022 | 162.083 | to | 25.275 | 216755 | 34363200 | 0.64 | 1.40 | to | 1.45 | (20.61) | to | (20.65) |
|  | 2021 | 204.167 | to | 31.853 | 235776 | 47147541 | 0.32 | 1.40 | to | 1.45 | 26.20 | to | 26.14 |
| Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> | Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> | Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> | Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> | Victory Pioneer High Yield VCT Portfolio Class II<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 21.284 | to | 20.622 | 26660 | 567205 | 5.76 | 1.40 | to | 1.55 | 6.42 | to | 6.26 |
|  | 2024 | 20.000 | to | 19.407 | 27871 | 557198 | 5.53 | 1.40 | to | 1.55 | 6.99 | to | 6.83 |
|  | 2023 | 18.693 | to | 18.166 | 30367 | 567410 | 5.32 | 1.40 | to | 1.55 | 9.46 | to | 9.29 |
|  | 2022 | 17.078 | to | 16.622 | 53469 | 910709 | 4.82 | 1.40 | to | 1.55 | (12.67) | to | (12.80) |
|  | 2021 | 19.556 | to | 19.061 | 64782 | 1262575 | 4.88 | 1.40 | to | 1.55 | 3.98 | to | 3.82 |
| Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Mid Cap Value VCT Portfolio Class I<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 72.315 | to | 28.432 | 60190 | 4340120 | 2.08 | 1.40 | to | 1.45 | 9.64 | to | 9.59 |
|  | 2024 | 65.958 | to | 25.945 | 70507 | 4639059 | 1.90 | 1.40 | to | 1.45 | 9.39 | to | 9.33 |
|  | 2023 | 60.298 | to | 23.731 | 82031 | 4935934 | 2.00 | 1.40 | to | 1.45 | 10.90 | to | 10.84 |
|  | 2022 | 54.373 | to | 21.410 | 92960 | 5045119 | 2.09 | 1.40 | to | 1.45 | (6.95) | to | (6.99) |
|  | 2021 | 58.434 | to | 23.020 | 97208 | 5652538 | 0.96 | 1.40 | to | 1.45 | 27.87 | to | 27.80 |
| Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> | Victory Pioneer Select Mid Cap Growth VCT Portfolio Class I<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 211.245 | to | 49.188 | 172670 | 35366158 |  | 1.40 | to | 1.45 | 18.80 | to | 18.74 |
|  | 2024 | 177.812 | to | 41.424 | 187634 | 32403869 |  | 1.40 | to | 1.45 | 22.20 | to | 22.14 |
|  | 2023 | 145.508 | to | 33.915 | 217094 | 30695360 |  | 1.40 | to | 1.45 | 17.13 | to | 17.07 |
|  | 2022 | 124.233 | to | 28.971 | 233177 | 28144504 |  | 1.40 | to | 1.45 | (32.02) | to | (32.05) |
|  | 2021 | 182.740 | to | 42.636 | 255066 | 45246375 |  | 1.40 | to | 1.45 | 6.57 | to | 6.51 |
| Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> | Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> | Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> | Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> | Victory Pioneer Strategic Income VCT Portfolio Class II<sup>1</sup> |  |  |  |  |  |  |  |  |  |
|  | 2025 | 18.478 | to | 17.903 | 96810 | 1783211 | 4.40 | 1.40 | to | 1.55 | 9.31 | to | 9.15 |
|  | 2024 | 16.904 | to | 16.402 | 116554 | 1963136 | 4.04 | 1.40 | to | 1.55 | 2.44 | to | 2.28 |
|  | 2023 | 16.502 | to | 16.037 | 137150 | 2256052 | 3.61 | 1.40 | to | 1.55 | 6.55 | to | 6.40 |
|  | 2022 | 15.487 | to | 15.072 | 174106 | 2687174 | 2.89 | 1.40 | to | 1.55 | (14.05) | to | (14.18) |
|  | 2021 | 18.018 | to | 17.563 | 186718 | 3353807 | 3.04 | 1.40 | to | 1.55 | 0.31 | to | 0.17 |
| Voya Global High Dividend Low Volatility Portfolio - Class S | Voya Global High Dividend Low Volatility Portfolio - Class S | Voya Global High Dividend Low Volatility Portfolio - Class S | Voya Global High Dividend Low Volatility Portfolio - Class S | Voya Global High Dividend Low Volatility Portfolio - Class S | Voya Global High Dividend Low Volatility Portfolio - Class S |  |  |  |  |  |  |  |  |
|  | 2025 | 57.266 | to | 48.540 | 7321 | 418911 | 2.07 | 1.40 | to | 1.45 | 17.08 | to | 17.02 |
|  | 2024 | 48.912 | to | 41.480 | 7777 | 380056 | 2.50 | 1.40 | to | 1.45 | 11.10 | to | 11.05 |
|  | 2023 | 44.024 | to | 37.353 | 8633 | 378575 | 2.71 | 1.40 | to | 1.45 | 4.95 | to | 4.90 |
|  | 2022 | 41.947 | to | 35.608 | 9907 | 414078 | 2.48 | 1.40 | to | 1.45 | (6.43) | to | (6.48) |
|  | 2021 | 44.829 | to | 38.074 | 10754 | 479145 | 2.29 | 1.40 | to | 1.45 | 18.89 | to | 18.83 |

---

------

---

| | |
|:---|:---|
| Symetra Separate Account C | Symetra Separate Account C |
| **Notes to Financial Statements** | **Notes to Financial Statements** |
| **6.** | **ACCUMULATION UNIT VALUES (Continued)** |

---

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|<br>**Sub-account** |<br>**Year Ended** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Unit Fair Value Corresponding to Lowest to Highest Expense Ratio** | **Units Outstanding** | **Net Assets** | **Net Investment Income Ratio**<sup>2</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Expense Ratio** <br>**Lowest to Highest**<sup>3</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> | **Total Return Corresponding to Lowest to Highest Expense Ratio**<sup>4</sup> |
| VY JPMorgan Emerging Markets Equity Portfolio Initial | VY JPMorgan Emerging Markets Equity Portfolio Initial | VY JPMorgan Emerging Markets Equity Portfolio Initial | VY JPMorgan Emerging Markets Equity Portfolio Initial | VY JPMorgan Emerging Markets Equity Portfolio Initial | VY JPMorgan Emerging Markets Equity Portfolio Initial |  |  |  |  |  |  |  |  |
|  | 2025 | 41.221 | to | 41.221 | 9987 | 411694 | 0.98 | 1.40 | to | 1.40 | 37.13 | to | 37.13 |
|  | 2024 | 30.060 | to | 30.060 | 10218 | 307138 | 1.11 | 1.40 | to | 1.40 | 0.72 | to | 0.72 |
|  | 2023 | 29.846 | to | 29.846 | 13642 | 407160 | 1.95 | 1.40 | to | 1.40 | 5.33 | to | 5.33 |
|  | 2022 | 28.336 | to | 28.336 | 14430 | 408911 |  | 1.40 | to | 1.40 | (26.92) | to | (26.92) |
|  | 2021 | 38.776 | to | 38.776 | 15535 | 602409 |  | 1.40 | to | 1.40 | (11.10) | to | (11.10) |

---

<sup>1</sup> Reference Note 1 of the financial statements for additional information pertaining to this sub-account.

<sup>2</sup>These amounts represent the dividends, excluding distributions of capital gains, received by the sub-account from the underlying Mutual Fund, net of management fees assessed by the Mutual Fund manager, divided by the trading days' average net assets. These ratios exclude those expenses, such as mortality and expense risk charges, that result in direct reductions in the Unit values. The recognition of investment income by the sub-account is affected by the timing of the declaration of dividends by the underlying Mutual Fund in which the sub-accounts invest.

<sup>3</sup>These amounts represent the annualized contract expenses of the Separate Account, consisting primarily of mortality and expense risk charges, for the period indicated. The ratios include only those expenses that result in a direct reduction to Unit values. Charges made directly to contract owner accounts through the redemption of Units and expenses of the underlying Mutual Fund are excluded.

<sup>4</sup>These amounts represent the total return for the periods indicated, including changes in the value of the underlying Mutual Funds, and reflect deductions for all items included in the expense ratio with the exception of Mutual Fund reorganization. Mutual Funds that have reorganized during the year present information through the time of the reorganization. The total return ratio does 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. The total return is calculated for the period indicated or from the effective commencement date through the end of the reporting period.

------

---

| |
|:---|
| Symetra Separate Account C |
| **Notes to Financial Statements** |

---

**7. SUBSEQUENT EVENTS**

The Separate Account has evaluated subsequent events through April 22, 2026, the date which the Separate Account's financial statements were available to be issued.

**Symetra Life Insurance Company** 

**Financial Statements – Statutory Basis**

**December 31, 2025** 

*With Independent Auditors' Report*

![symetralogo_vertxdesxcolora.jpg](symetralogo_vertxdesxcolora.jpg)

**SYMETRA LIFE INSURANCE COMPANY**

**FINANCIAL STATEMENTS – STATUTORY BASIS**

---

| | |
|:---|:---|
| **Table of Contents** | **Table of Contents** |
| Independent Auditors' Report ................................................................................................................................................ | <u>[3](#icdd9190ab68d4ea2b4d9de85f16fbc0c_1034)</u> |
| Financial Statements |  |
| Balance Sheets – Statutory Basis ...................................................................................................................................... | <u>[5](#icdd9190ab68d4ea2b4d9de85f16fbc0c_13)</u> |
| Statements of Operations – Statutory Basis .................................................................................................................... | <u>[6](#icdd9190ab68d4ea2b4d9de85f16fbc0c_16)</u> |
| Statements of Changes in Capital and Surplus – Statutory Basis ................................................................................ | <u>[7](#icdd9190ab68d4ea2b4d9de85f16fbc0c_19)</u> |
| Statements of Cash Flow – Statutory Basis ..................................................................................................................... | <u>[8](#icdd9190ab68d4ea2b4d9de85f16fbc0c_22)</u> |
| Notes to Financial Statements – Statutory Basis ............................................................................................................ | <u>[9](#icdd9190ab68d4ea2b4d9de85f16fbc0c_25)</u> |

---

![floatingimage_0a.jpg](floatingimage_0a.jpg)

KPMG LLP

Suite 500

191 West Nationwide Blvd.

Columbus, OH 43215-2568

**Independent Auditors' Report**

The Board of Directors and Stockholder

Symetra Life Insurance Company:

*Opinions*

We have audited the financial statements of Symetra Life Insurance Company (the Company), which comprise

the balance sheets - statutory basis as of December 31, 2025 and 2024, and the related statements of

operations - statutory basis, changes in capital and surplus - statutory basis, and cash flow - statutory basis for

each of the years in the three years ended December 31, 2025, and the related notes to the financial

statements - statutory basis (collectively, 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, and capital and surplus of the Company as of December 31, 2025 and 2024, and the results

of its operations and its cash flow for each of the years in the three years ended December 31, 2025 in

accordance with accounting practices prescribed or permitted by the Iowa Insurance Division, Department of

Insurance and Financial Services 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 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, 2025 and 2024, or the results of its operations or its cash flows for each of the years in the three

years ended December 31, 2025.

*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 Iowa Insurance Division, Department of Insurance and

Financial Services, 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

reasonable determinable, are presumed to be material and pervasive.

KPMG LLP, a Delaware limited liability partnership, and its subsidiaries are part of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English

company limited by guarantee.

![floatingimage_1a.jpg](floatingimage_1a.jpg)

*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 Iowa Insurance Division, Department of Insurance and

Financial Services. 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.

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.

/s/ KPMG LLP

Columbus, Ohio

April 10, 2026

**SYMETRA LIFE INSURANCE COMPANY**

**BALANCE SHEETS – STATUTORY BASIS**

**(In millions, except share and per share data)**

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| **ADMITTED ASSETS** |  |  |
| Bonds ....................................................................................................................................................... | **$37829.0** | $33803.1 |
| Preferred stocks ..................................................................................................................................... | **216.2** | 110.7 |
| Common stocks ...................................................................................................................................... | **989.9** | 807.5 |
| Mortgage loans ....................................................................................................................................... | **10040.1** | 8900.6 |
| Cash, cash equivalents, and short-term investments ...................................................................... | **2423.6** | 1641.6 |
| Derivatives .............................................................................................................................................. | **437.2** | 405.0 |
| Other invested assets ........................................................................................................................... | **1175.9** | 1100.4 |
| Total cash and invested assets ............................................................................................................... | **53111.9** | 46768.9 |
| Accrued investment income ................................................................................................................. | **413.8** | 362.1 |
| Deferred and uncollected premiums (net of loading of **$(0.6)** and $0.3) ...................................... | **(1803.7)** | (1500.2) |
| Deferred tax assets, net ........................................................................................................................ | **222.9** | 201.2 |
| Current federal income taxes recoverable ......................................................................................... | **—** | 23.8 |
| Reinsurance recoverables and other receivables ............................................................................ | **2223.1** | 1695.0 |
| Separate account assets ...................................................................................................................... | **11134.2** | 9685.7 |
| Total admitted assets ............................................................................................................................... | **$65302.2** | $57236.5 |
| **LIABILITIES AND CAPITAL AND SURPLUS** |  |  |
| Life and annuity reserves ................................................................................................................... | **$40949.9** | $36575.9 |
| Accident and health reserves ............................................................................................................ | **696.9** | 291.2 |
| Policy and contract claims ................................................................................................................. | **343.0** | 148.4 |
| Liability for deposit-type contracts .................................................................................................... | **5034.9** | 4602.9 |
| Unearned premiums and annuity considerations .......................................................................... | **10.7** | 8.2 |
| Total policy and contract liabilities ....................................................................................................... | **47035.4** | 41626.6 |
| Cash collateral held ............................................................................................................................... | **1068.5** | 692.1 |
| Asset valuation reserve ......................................................................................................................... | **775.9** | 687.1 |
| Interest maintenance reserve .............................................................................................................. | **57.4** | 68.7 |
| Funds held under coinsurance agreements ...................................................................................... | **1702.5** | 1486.7 |
| Other liabilities ........................................................................................................................................ | **1094.4** | 908.3 |
| Separate account liabilities ................................................................................................................... | **10857.0** | 9384.1 |
| Total liabilities ............................................................................................................................................ | **62591.1** | 54853.6 |
| Commitments and contingencies (Note 14) |  |  |
| Capital and surplus |  |  |
| Common stock, $250 par value, 20,000 shares authorized, issued and outstanding ................ | **5.0** | 5.0 |
| Gross paid-in and contributed surplus ................................................................................................ | **1489.0** | 1089.0 |
| Surplus notes .......................................................................................................................................... | **497.2** |  |
| Unassigned funds .................................................................................................................................. | **719.9** | 1288.9 |
| Total capital and surplus .......................................................................................................................... | **2711.1** | 2382.9 |
| Total liabilities and capital and surplus .................................................................................................. | **$65302.2** | $57236.5 |

---

See accompanying notes.

**SYMETRA LIFE INSURANCE COMPANY**

**STATEMENTS OF OPERATIONS – STATUTORY BASIS**

**(In millions)**

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Premiums and other revenues: |  |  |  |
| Premiums and annuity considerations ..................................................................................... | **$4402.1** | $3925.0 | $3528.4 |
| Net investment income ............................................................................................................... | **2415.9** | 2192.4 | 1757.2 |
| Amortization of interest maintenance reserve ........................................................................ | **(2.5)** | 1.2 | 21.6 |
| Separate account fees and other ............................................................................................ | **217.9** | 237.5 | 131.6 |
| Commissions and expense allowances on reinsurance ceded, net ................................... | **538.3** | 647.6 | 438.2 |
| Reserve adjustment on reinsurance ceded ............................................................................ | **4511.5** | 4682.1 | 4458.6 |
| Other income ................................................................................................................................ | **49.3** | 41.2 | 40.0 |
| Total premiums and other revenues ............................................................................................ | **12132.5** | 11727.0 | 10375.6 |
| Benefits: |  |  |  |
| Death benefits .............................................................................................................................. | **398.2** | 325.2 | 326.2 |
| Annuity benefits ........................................................................................................................... | **342.3** | 343.2 | 337.1 |
| Surrender and maturity benefits ................................................................................................ | **4020.6** | 5534.4 | 5785.0 |
| Accident and health and other benefits ................................................................................... | **713.3** | 584.6 | 546.4 |
| Increase in policy reserves ........................................................................................................ | **4196.6** | 2564.7 | 2010.4 |
| Total benefits ................................................................................................................................... | **9671.0** | 9352.1 | 9005.1 |
| Insurance expenses and other deductions: |  |  |  |
| Commissions ................................................................................................................................ | **685.1** | 615.5 | 510.5 |
| General insurance expenses ..................................................................................................... | **815.4** | 727.3 | 637.0 |
| Net transfers to (from) separate accounts ............................................................................... | **794.2** | 872.0 | 137.2 |
| Total insurance expenses and other deductions ....................................................................... | **2294.7** | 2214.8 | 1284.7 |
| Gain (loss) from operations before federal income taxes and net realized capital gains <br>(losses) ............................................................................................................................................<br>| **166.8** | 160.1 | 85.8 |
| Federal income tax expense (benefit) ...................................................................................... | **2.5** | 81.6 | 96.7 |
| Gain (loss) from operations before net realized capital gains (losses) ................................. | **164.3** | 78.5 | (10.9) |
| Net realized capital gains (losses) (net of federal income taxes and transfer to interest <br>maintenance reserve) ....................................................................................................................<br>| **83.5** | 104.7 | 102.5 |
| Net income (loss) .............................................................................................................................. | **$247.8** | $183.2 | $91.6 |

---

See accompanying notes.

**SYMETRA LIFE INSURANCE COMPANY**

**STATEMENTS OF CHANGES IN CAPITAL AND SURPLUS – STATUTORY BASIS**

**(In millions)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common** <br>**Stock**<br>| **Gross** <br>**Paid-In and** <br>**Contributed** <br>**Surplus**<br>| **Surplus** <br>**Notes**<br>| **Unassigned** <br>**Funds**<br>| **Total Capital** <br>**and Surplus**<br>|
| Balances as of January 1, 2023 ............................................... | $5.0 | $1089.0 | $— | $1402.4 | $2496.4 |
| Net income (loss) ..................................................................... |  |  |  | 91.6 | 91.6 |
| Change in net unrealized capital gains (losses), <br>including foreign exchange .....................................................<br>|  |  |  | 51.6 | 51.6 |
| Change in net deferred income taxes ................................... |  |  |  | 61.3 | 61.3 |
| Change in nonadmitted assets .............................................. |  |  |  | (59.7) | (59.7) |
| Change in liability for unauthorized reinsurance ................. |  |  |  | 70.8 | 70.8 |
| Change in reserve on account of change in valuation <br>basis ...........................................................................................<br>|  |  |  | (9.1) | (9.1) |
| Change in asset valuation reserve ........................................ |  |  |  | (228.9) | (228.9) |
| Change in surplus in separate accounts .............................. |  |  |  | 2.0 | 2.0 |
| Dividends to Parent ................................................................. |  |  |  | (207.0) | (207.0) |
| Balances as of December 31, 2023 ......................................... | 5.0 | 1089.0 |  | 1175.0 | 2269.0 |
| Correction of prior period errors ............................................ |  |  |  | (9.9) | (9.9) |
| Balances as of January 1, 2024 .............................................. | 5.0 | 1089.0 |  | 1165.1 | 2259.1 |
| Net income (loss) ..................................................................... |  |  |  | 183.2 | 183.2 |
| Change in net unrealized capital gains (losses), <br>including foreign exchange .....................................................<br>|  |  |  | 28.3 | 28.3 |
| Change in net deferred income taxes ................................... |  |  |  | 54.3 | 54.3 |
| Change in nonadmitted assets .............................................. |  |  |  | (23.6) | (23.6) |
| Change in liability for unauthorized reinsurance ................. |  |  |  | (1.3) | (1.3) |
| Change in reserve on account of change in valuation <br>basis ...........................................................................................<br>|  |  |  | (22.6) | (22.6) |
| Change in asset valuation reserve ........................................ |  |  |  | (95.5) | (95.5) |
| Change in surplus in separate accounts .............................. |  |  |  | 1.0 | 1.0 |
| Balances as of December 31, 2024 ......................................... | 5.0 | 1089.0 |  | 1288.9 | 2382.9 |
| Correction of prior period errors ............................................ | **—** | **—** | **—** | **(45.1)** | **(45.1)** |
| Balances as of January 1, 2025 ............................................... | **5.0** | **1089.0** | **—** | **1243.8** | **2337.8** |
| Net income (loss) ..................................................................... | **—** | **—** | **—** | **247.8** | **247.8** |
| Change in net unrealized capital gains (losses), <br>including foreign exchange .....................................................<br>| **—** | **—** | **—** | **21.9** | **21.9** |
| Change in net deferred income taxes ................................... | **—** | **—** | **—** | **134.6** | **134.6** |
| Change in nonadmitted assets .............................................. | **—** | **—** | **—** | **(829.7)** | **(829.7)** |
| Change in liability for unauthorized reinsurance ................. | **—** | **—** | **—** | **1.3** | **1.3** |
| Change in reserve on account of change in valuation <br>basis ...........................................................................................<br>| **—** | **—** | **—** | **(23.3)** | **(23.3)** |
| Change in asset valuation reserve ........................................ | **—** | **—** | **—** | **(88.8)** | **(88.8)** |
| Change in surplus in separate accounts .............................. | **—** | **—** | **—** | **12.3** | **12.3** |
| Change in surplus notes ......................................................... | **—** | **—** | **497.2** | **—** | **497.2** |
| Capital contribution from Parent ............................................ | **—** | **400.0** | **—** | **—** | **400.0** |
| Balances as of December 31, 2025 ......................................... | **$5.0** | **$1489.0** | **$497.2** | **$719.9** | **$2711.1** |

---

See accompanying notes.

**SYMETRA LIFE INSURANCE COMPANY**

**STATEMENTS OF CASH FLOW – STATUTORY BASIS**

**(In millions)**

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| **Cash flows from operating activities** |  |  |  |
| Premiums and annuity considerations collected .................................................................... | **$4639.8** | $4430.5 | $3666.5 |
| Net investment income received ............................................................................................... | **2209.7** | 2097.0 | 1805.0 |
| Commissions and expense allowance on reinsurance ceded ............................................. | **536.1** | 505.7 | 434.9 |
| Other income ................................................................................................................................ | **(96.2)** | (843.2) | 216.2 |
| Net transfers (to) from separate accounts ............................................................................... | **(747.6)** | (944.2) | (152.8) |
| Benefits and loss-related payments ......................................................................................... | **(313.6)** | (2038.0) | (2586.9) |
| Commissions, other expenses, and taxes paid ...................................................................... | **(1440.6)** | (392.8) | (1162.3) |
| Commissions and expense allowance on reinsurance assumed ........................................ | **(18.0)** |  |  |
| Federal income taxes received (paid) ...................................................................................... | **17.9** | (91.5) | (88.5) |
| Net cash provided by (used in) operating activities .................................................................. | **4787.5** | 2723.5 | 2132.1 |
| **Cash flows from investing activities** |  |  |  |
| Proceeds from investments sold, matured, or repaid: |  |  |  |
| Bonds ......................................................................................................................................... | **9930.0** | 9418.5 | 7880.7 |
| Mortgage loans ......................................................................................................................... | **949.4** | 720.2 | 548.7 |
| Other invested assets .............................................................................................................. | **1716.5** | 1498.9 | 760.3 |
| Cost of investments acquired: |  |  |  |
| Bonds ......................................................................................................................................... | **(14053.1)** | (11330.8) | (9030.4) |
| Mortgage loans ......................................................................................................................... | **(2088.8)** | (1770.6) | (1274.2) |
| Other invested assets .............................................................................................................. | **(1619.0)** | (1458.6) | (697.6) |
| Other, net ...................................................................................................................................... | **(25.6)** | (60.3) | (34.5) |
| Net cash provided by (used in) investing activities ................................................................... | **(5190.6)** | (2982.7) | (1847.0) |
| **Cash flows from financing activities** |  |  |  |
| Capital contribution from Parent ............................................................................................... | **400.0** |  |  |
| Net deposits (withdrawals) on deposit-type contracts and other insurance liabilities ...... | **425.9** | 340.0 | (1.3) |
| Net receipts from (transfers to) Parent, subsidiaries, and affiliates .................................... | **16.4** | (1.9) | (1.7) |
| Dividends to Parent ..................................................................................................................... | **—** |  | (207.0) |
| Proceeds from issuance of surplus notes, net of discount ................................................... | **497.2** |  |  |
| Other, net ...................................................................................................................................... | **(154.4)** | (696.2) | 1225.2 |
| Net cash provided by (used in) financing activities ................................................................... | **1185.1** | (358.1) | 1015.2 |
| Net increase (decrease) in cash .................................................................................................. | **782.0** | (617.3) | 1300.3 |
| Cash, cash equivalents, and short-term investments, beginning of year ................................ | **1641.6** | 2258.9 | 958.6 |
| Cash, cash equivalents, and short-term investments, end of year ........................................... | **$2423.6** | $1641.6 | $2258.9 |
| **Supplemental disclosures of cash flow information** |  |  |  |
| Non-cash transactions during the year: |  |  |  |
| Bonds and stock exchanges ........................................................................................................ | **$406.6** | $299.7 | $90.8 |
| Amortization of option costs under Iowa Administrative Code 191-97 .................................. | **153.0** | 105.6 | 62.1 |
| Mortgage loans – refinances ........................................................................................................ | **132.7** | 132.5 | 23.2 |
| Investment expense on funds withheld ...................................................................................... | **28.3** | 27.4 | 25.2 |
| Present value of future commitments related to tax credits .................................................... | **20.7** | 83.3 | 34.1 |
| Amortization of nonadmitted goodwill ......................................................................................... | **17.5** |  |  |
| Initial transactions related to new reinsurance agreements .................................................... | **—** | 369.8 |  |

---

See accompanying notes.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**1. Description of Business**

Symetra Life Insurance Company (the Company) is a stock life insurance company domiciled in the state of Iowa, and a wholly-

owned subsidiary of Symetra Financial Corporation (the Parent), a Delaware Corporation. The Company has three wholly-owned

subsidiaries: Symetra National Life Insurance Company, First Symetra National Life Insurance Company of New York, and

Symetra Reinsurance Corporation (SRC). The Company's parent is a wholly-owned subsidiary of Sumitomo Life Insurance

Company, a mutual company (sougo kaisha) organized under the laws of Japan.

The Company offers products and services that serve the retirement, employment-based benefits, and life insurance markets.

These products and services are marketed through financial institutions, broker-dealers, financial professionals, independent

agents, and benefits consultants in 49 states and the District of Columbia. The Company's principal product lines include:

---

| | | |
|:---|:---|:---|
| **Retirement** | **Benefits** | **Individual Life** |
| Fixed Annuities: | Disability income (DI) insurance: | Traditional and term\* life insurance |
| Fixed deferred annuities (DA) (1) | Short-term disability (STD) | Universal life (UL) insurance: |
| Single premium immediate annuities <br>without life contingencies (non-life <br>contingent SPIA) | Long-term disability (LTD) | Indexed universal life (IUL) insurance |
| Single premium immediate annuities <br>without life contingencies (non-life <br>contingent SPIA) | Other health: | UL with secondary guarantees |
| Indexed annuities: | Medical stop-loss insurance | Institutional life: |
| Fixed indexed annuities (FIA) | Group voluntary benefits | Bank-owned life insurance (BOLI) |
| Registered index-linked annuities (RILA) | Absence management | Company-owned life insurance (COLI) |
| Single premium immediate annuities with <br>life contingencies (life-contingent SPIA) | Paid family and medical leave | Variable universal life (VUL) insurance |
| Single premium immediate annuities with <br>life contingencies (life-contingent SPIA) |  |  |
| ________________ |  |  |

---

\*Group policies are also applicable to this product group and offered through the Benefits division.

(1)Includes a small amount of variable annuity products.

The Company also services a block of in-force income annuities that has been fully reinsured since 2018 and includes all of the

Company's structured settlement annuities. Refer to Note 7 for further discussion.

**2. Summary of Significant Accounting Policies**

**Basis of Presentation and Use of Estimates**

The financial statements have been prepared in conformity with statutory accounting practices prescribed or permitted by the

Iowa Insurance Division, Department of Insurance and Financial Services (the Department). Companies domiciled in the state of

Iowa prepare their statutory-basis financial statements in accordance with the National Association of Insurance

Commissioners' (NAIC) *Accounting Practices and Procedures Manual,* subject to any deviations prescribed or permitted by the

Department.

The preparation of financial statements in conformity with NAIC statutory accounting principles (SAP) requires the Company to

make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The

most significant estimates include those used to determine the following:

• valuation of investments carried at fair value;

• valuation of policy and contract liabilities;

• the identification and measurement of other-than-temporary impairments (OTTI) of investments; and

• the admissibility of deferred tax assets (DTAs).

The recorded amounts reflect management's best estimates, though actual results could differ from those estimates. Such

estimates and assumptions could change in the future as more information becomes available, which could impact the amounts

reported and disclosed herein.

Certain reclassifications have been made to prior year financial information to conform to the current period presentation.

Statutory accounting practices are different in some respects from financial statements prepared in accordance with U.S.

generally accepted accounting principles (GAAP). The descriptions of the Company's significant accounting policies below

include the significant variances from GAAP. The effects of the foregoing variances from GAAP to the accompanying statutory-

basis financial statements are not reasonably determinable, but are presumed to be material. The Company's GAAP-basis

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

financial results are also affected by the application of PGAAP, which results in further differences between GAAP and statutory-

basis accounting.

***Dearborn Acquisition***

In 2025, the Company acquired Dearborn Life Insurance Company's (Dearborn) life and disability (L&D) business (the Dearborn

Acquisition) through a 100% coinsurance reinsurance transaction and entered into a product distribution arrangement with

Dearborn's parent company, Health Care Service Corporation (HCSC), a Mutual Legal Reserve Company. Under the agreement,

described in Note 7, the Company assumed Dearborn's group life, DI, and traditional and term insurance in-force blocks. The

acquisition was accounted for under the acquisition method of accounting (purchase accounting, or PGAAP) for GAAP, but for

statutory accounting, the Company has applied the corresponding permitted practice discussed below. Subsequent to October 1,

2025, the financial results from Dearborn's L&D business have been included in the Company's balance sheets and statements

of operations.

At inception, the Company received an initial settlement comprised of $46.6 of assets acquired and $664.7 of liabilities assumed.

The Company recorded $700.0 of nonadmitted goodwill which will be amortized into the statement of operations over 10 years

due to the permitted practice described below. The assumed policy reserves related to the acquisition are disclosed in Note 8

and Note 9.

***Prescribed Practices***

Under Iowa Bulletin 06-01, the Department allows insurance companies to record the change in the fair value of derivative

instruments used to economically hedge indexed products in income, consistent with how the change in indexed product

reserves is recorded. The Company uses this election for its IUL and RILA products. This election has no net impact on surplus.

Under Iowa Administrative Code (IAC) 191-97, the Department allows companies to account for eligible derivative assets using

the amortized cost method if the company can demonstrate that they meet the criteria for an economic hedge. Furthermore, IAC

191-97 also prescribes the use of a reserve calculation methodology for indexed annuity products that only reflects credited

interest on reserves at the conclusion of the index term based on actual index performance. The Company uses this election for

its FIA products.

The state of Iowa has adopted a prescribed accounting practice that differs from that found in the SAP related to the admission

of a variable funding note as capital and surplus. SRC is entitled to admit as an asset the value of a variable funding note

associated with a reinsurance agreement with the Company. There was no impact to net income. If SRC had not used this

prescribed practice, the result would not have triggered a regulatory event at the Company. SRC's statutory surplus under the

prescribed practice from the state of Iowa was $46.9 and $43.3 as of December 31, 2025 and 2024, respectively. SRC's

statutory deficit would have been $28.7 and $31.5 as of December 31, 2025 and 2024, respectively, under SAP.

***Permitted Practices***

Under Iowa Bulletin 07-06, the Department allows insurance companies with approval from the commissioner to use other than

market value for assets held in a separate account where general account guarantees are present. The Company, with explicit

permission from the Department, is permitted to account for the separate account assets related to its BOLI and RILA business

at other than market value. The assets of the BOLI and RILA separate accounts primarily include bonds, derivatives, and

commercial mortgage loans that are accounted for in accordance with the guidance otherwise applicable to these assets.

Therefore, there is no impact to net income or surplus.

The Company has received explicit permission from the Department to record equity-type and certain derivative financial

instruments held in segregated portfolios through income rather than surplus. These instruments are held in segregated

portfolios supporting investments for ceded reinsurance transactions, including structured settlement annuities in connection with

the 2018 Income Annuities Inforce Reinsurance Transaction and FIA and DA blocks ceded to Symetra Bermuda Re Ltd. (SBR)

described in Note 7. The change in the fair value of these assets is settled with the reinsurers quarterly in accordance with the

reinsurance agreements.

The Company has received explicit permission from the Department to apply goodwill accounting from the Statement of

Statutory Accounting Principles (SSAP) 68, *Business Combinations*, to the Dearborn Acquisition. The Company recognized

$700.0 of goodwill instead of an expense. The goodwill will be amortized into expense over 10 years and is nonadmitted.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

The impacts of the prescribed and permitted practices described above are summarized as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Net income (loss) – Iowa basis ...................................................................................................... | **$247.8** | $183.2 | $91.6 |
| State prescribed practices: |  |  |  |
| Iowa Bulletin 06-01 ...................................................................................................................... | **(14.9)** | (6.8) | (36.6) |
| IAC 191-97 – options .................................................................................................................. | **31.8** | 36.1 | 13.2 |
| IAC 191-97 – reserves ................................................................................................................ | **(71.7)** | (50.4) | (250.5) |
| State permitted practices:  |  |  |  |
| Dearborn Acquisition – goodwill ................................................................................................ | **(682.5)** |  |  |
| Equity-type investments and certain derivatives .................................................................... | **(25.3)** | (32.4) | (34.3) |
| Net income (loss) – NAIC basis ...................................................................................................... | **$(514.8)** | $129.7 | $(216.6) |

---

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| Statutory surplus – Iowa basis ................................................................................................................................... | **$2711.1** | $2382.9 |
| State prescribed practices: |  |  |
| Variable funding note .............................................................................................................................................. | **(75.6)** | (74.8) |
| IAC 191-97 – options .............................................................................................................................................. | **205.2** | 173.3 |
| IAC 191-97 – reserves ........................................................................................................................................... | **(292.4)** | (220.7) |
| Statutory surplus – NAIC basis ................................................................................................................................... | **$2548.3** | $2260.7 |

---

**Recognition of Premiums and Annuity Considerations**

Premiums for UL policies and annuity considerations with mortality and morbidity risk are recognized as revenue when received.

Premiums for traditional individual life policies are recognized annually on the policy anniversary, consistent with the statutory

reserving process. Amounts received under deposit-type contracts with no life contingencies, including certain group annuity

contracts, are recorded as liabilities when received.

Premiums for DI, medical stop-loss, and other health policies are recognized when due. Certain types of these policies have

retrospective rating features that require premium to be paid or refunded based on claims experience. The Company records its

estimate for retrospective premiums in accordance with the terms of each contract as an adjustment to earned premium. The

following table presents the amount of net premiums subject to retrospective rating features, and its percentage of total net

premiums written on the Company's accident and health contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **2023** | **2023** |
|  | **Amount** | **%** | **Amount** | **%** | **Amount** | **%** |
| Net premiums subject to retrospective <br>rating features ................................................<br>| **$119.8** | **17.6%** | $105.1 | 17.7% | $90.3 | 17.0% |

---

Approximately 29% of 2025 premiums were from DA and FIA, 27% were from RILA, 17% were from UL, and 17% were from

group life and DI. No other products represented more than 10% of premiums. Two financial institution distributors accounted for

approximately 45% of the Company's total DA, FIA, and RILA sales for the year ended December 31, 2025. DA and FIA sales

represent premiums on new policies, net of first year policy lapses and/or surrenders.

Under GAAP, revenue recognition is dependent upon the type of product and its corresponding accounting treatment. The

Company's employment-based benefits policies, which primarily include medical stop-loss and group life and DI, are short-

duration contracts. Premiums from these products are recognized as revenue when earned over the life of the policy.

Policyholder claims are expensed as incurred. Traditional and term life insurance and certain SPIA products are classified and

accounted for as long-duration insurance contracts. Traditional and term life premiums are recognized as revenue and

considered earned when due. For life-contingent SPIA products, a portion of the premiums are deferred at contract inception and

are recognized as revenue over the life of the contract through amortization.

Under GAAP, for UL, institutional life, and investment-type products, deposits are credited to policyholder account balances when

received and reflected as liabilities, rather than as premium revenue. Revenues from these contracts consist of net investment

income earned on policyholders' account balances and amounts assessed for cost of insurance, policy administration, surrender

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

charges, and other fees. These assessments are recorded in policy fees, contract charges, and other on the consolidated

statements of income (loss). Expenses charged to operations for these products include interest credited and claims in excess of

related policyholder account balances. These amounts are expensed as incurred.

Under GAAP, revenue from variable annuities and VUL products include fees for mortality and expense risk, policy

administration, and surrender charges. These fees are charged to policyholders' accounts based upon the daily net assets of the

policyholders' account values and are recognized as revenue in policy fees, contract charges, and other on the consolidated

statements of income (loss) when assessed.

**Policy Acquisition Costs**

The costs of acquiring and renewing policies are expensed when incurred.

Under GAAP, the Company defers costs that are directly related to the successful acquisition or renewal of insurance contracts,

referred to as deferred policy acquisition costs (DAC). These primarily include commissions, distribution costs directly related to

sales, third-party underwriting costs, and the portion of salaries and benefits directly related to processing successful new and

renewal contracts. The Company's life insurance products, such as UL and traditional and term life insurance products, are

grouped by product and issue year and are amortized at a constant rate over the initial face amount of life insurance in-force.

The Company's investment-type products, such as DA and indexed annuities, and life-contingent income annuities are grouped

by product, issue year, and presence of a guaranteed lifetime withdrawal benefit (GLWB) rider. These products are amortized at

a constant rate based on policy count. The Company amortizes acquisition costs for non-life contingent SPIA using a constant

yield approach. The Company's short duration contracts, such as group life and DI, have renewal commissions resulting in new

DAC capitalization in the years following initial capitalization and is amortized over the estimated life of the underlying contracts.

Additionally, in conjunction with any acquisition or merger, the Company records an asset that represents the right to receive

future gross profits from cash flows and earnings of the Company's existing business, or value of business acquired (VOBA). The

Company amortizes VOBA in the same manner as policy acquisition costs.

**Investments**

***Bonds, Preferred Stocks, and Common Stocks***

*Bonds*

Beginning in 2025, the Company adopted revisions to SSAP No. 26, *Bonds*, and SSAP No. 43, *Loan-Backed and Structured* 

*Securities* in connection with the adoption of Statutory Ref No. 2019-21, referred to as the principles-based bond definition

(PBBD), and discussed further below in Accounting Pronouncements Newly Adopted. After the adoption, the Company's bonds

were further delineated into two categories: issuer credit obligations (ICOs) and asset-backed securities (ABS). Prior to the

adoption of the PBBD in 2025, ABS were referred to as loan-backed and structured securities, whereas ICOs were referred to as

bonds that were neither loan-backed nor structured securities. There was no change in the underlying accounting treatment of

these bond categories when comparing 2025 to 2024, only changes to the naming and categorization.

An ICO is issued by an operating entity with the repayment supported primarily by the general creditworthiness of the operating

entity, consisting of direct or indirect recourse. ICOs are carried at amortized cost, using the constant effective yield method of

amortization. ICOs also include Securities Valuation Office (SVO) identified bond exchange traded funds (ETFs).

An ABS is a bond issued by an entity created for the primary purpose of raising debt capital backed by financial assets or cash

generating non-financial assets owned by the ABS issuer, whereby repayment is primarily derived from the cash flows

associated with the underlying defined collateral rather than the cash flows of an operating entity. Types of ABS include, but are

not limited to, commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS), collateralized

loan obligations (CLOs), collateralized bond obligations (CBOs), and collateralized debt obligations (CDOs). ABS are carried at

amortized cost, and income is recognized using a constant effective yield based on anticipated prepayments and the estimated

economic life of the securities. Prepayment assumptions are based on current interest rates and the economic environment.

When actual prepayments differ significantly from anticipated prepayments, the effective yield is recalculated to reflect actual

payments to date and estimated future payments. Under the retrospective adjustment method, the net investment in the security

is adjusted to the amount that would have existed had the new effective yield been applied since the acquisition of the security.

The Company elects to apply the retrospective adjustment methodology to specific ABS that are reported with NAIC designations

that are of high credit quality at the time of acquisition. For all other ABS, the effective yield is adjusted prospectively for any

changes in estimated cash flows. The Company includes any resulting adjustment in net investment income in the current

period.

Bonds are recorded on a trade date basis, except for private placement bonds, which are recorded on the funding date. All bonds

in or near default, which have a NAIC designation of 6, are carried at the lower of amortized cost or fair value.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

For those bonds reported at fair value, the related changes in net unrealized capital gains (losses) are recorded in unassigned

funds, net of related deferred income taxes.

The Company reports interest and dividends earned, including prepayment fees or interest-related make whole payments, in net

investment income. Interest income for bonds is recognized using the effective yield method. When the collectability of interest

income for bonds is considered doubtful, any accrued but uncollectible interest is deducted from investment income in the

current period. The Company then places the securities on nonaccrual status, and they are not restored to accrual status until all

delinquent interest and principal is paid.

Under GAAP, the Company classifies its investments in fixed maturities as either available-for-sale or trading securities and

carries them at fair value. For available-for-sale securities, unrealized gains (losses) are recorded directly to accumulated other

comprehensive income (AOCI) within shareholder's equity, net of deferred income taxes. The cost of securities sold is

determined using the specific-identification method. Changes in the fair value of trading securities are reported as realized gains

(losses).

Under GAAP, the Company reports interest and dividends earned, including prepayment fees, in net investment income on the

consolidated statements of income (loss). Interest income for fixed maturities is recognized using the constant effective yield

method. For mortgage- and asset-backed securities, the Company recognizes income using a constant effective yield based on

anticipated prepayments and the estimated economic life of the securities. Quarterly, the Company compares actual

prepayments to anticipated prepayments and recalculates the effective yield to reflect actual payments plus anticipated future

payments. The Company includes any resulting adjustment in net investment income in the current period.

*Preferred Stocks*

Redeemable preferred stocks, which have characteristics of debt securities, and are rated as medium quality or better (NAIC

designations 1 to 3) are reported at cost or amortized cost. All other redeemable preferred stocks (NAIC designations 4 to 6) are

reported at the lower of cost, amortized cost, or fair value. Perpetual preferred stocks, which have characteristics of equity

securities, are reported at the lower of currently effective call price or fair value.

For preferred stocks reported at fair value, the related changes in net unrealized capital gains (losses) are recorded in

unassigned funds, net of related deferred income taxes.

Under GAAP, redeemable preferred stocks are classified as fixed maturities as either available-for-sale or trading securities and

carried at fair value. For available-for-sale securities, unrealized gains (losses) are recorded directly to AOCI net of deferred

income taxes. Changes in the fair value of trading securities are reported as realized gains (losses). Perpetual preferred stocks

are classified as marketable equity securities and are carried at fair value with changes in fair value reported as realized gains

(losses).

*Common Stocks*

Unaffiliated common stocks, including equity ETFs, are reported at fair value and the related net unrealized capital gains (losses)

are recorded in unassigned funds, net of related deferred income taxes. Federal Home Loan Bank of Des Moines (FHLB DM)

common stocks, which include membership and activity stock, are reported at cost, which is presumed to be fair value.

Under GAAP, the Company carries marketable equity securities (common stock) at fair value with changes in fair value reported

as realized gains (losses).

The Company's investments in its insurance subsidiaries are included in affiliated common stocks and are carried at their

underlying statutory equity, which was $284.3 and $266.5 as of December 31, 2025 and 2024, respectively. Changes in the

carrying value of subsidiaries are recorded directly to unassigned funds. The Company owns no shares, either directly or

indirectly, of the Parent. Under GAAP, the accounts and operations of the subsidiaries are consolidated.

*Impairments*

Investments are considered to be impaired when a decline in fair value below a security's amortized cost is determined to be

other-than-temporary. The Company's review of investment securities for OTTI includes both quantitative and qualitative criteria,

and for ABS, may include identification of the portion related to credit losses. See Note 3 for additional discussion about the

Company's process for identifying and recording OTTI.

Under GAAP, a fixed maturity with fair value below its amortized cost but is not intended to be sold, is evaluated to determine

whether the decline in fair value has resulted from an expected credit loss or other factors (such as market interest rates). The

amount of the expected credit loss equals the difference between amortized cost and recovery value of the security, and is

limited by the amount that the fair value is less than the amortized cost basis. The expected credit loss is recorded as an

allowance, with the initial recognition and subsequent changes recognized in earnings as a realized loss. Amounts determined

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

uncollectible are written off as a reduction to the amortized cost and removed from the allowance. Any remaining non-credit

related unrealized loss is recorded in AOCI.

***Mortgage Loans***

The Company carries mortgage loans on real estate at outstanding principal balances, less any recognized impairment. Loans

are specifically evaluated for impairment if the Company considers it probable that amounts due according to the terms of the

loan agreement will not be collected, or the loan is modified in a troubled debt restructuring. For mortgage loans that the

Company determines to be impaired, the Company charges the difference between the estimated fair value of the collateral and

the recorded investment in the mortgage loan as a realized investment loss.

The Company accrues interest income on impaired loans to the extent that it is deemed collectible and the loan continues to

perform under its original or restructured terms. Accrued interest receivable is reported in accrued investment income, and

interest income is recorded in net investment income. If a mortgage loan has any investment income due and accrued that is 180

days past due and collectible, or non-performing, the investment income will continue to accrue, but all interest related to the

loan will be reported as a nonadmitted asset. Loan origination fees are recorded in income upon receipt and origination costs are

expensed when incurred.

Under GAAP, a majority of mortgage loans are carried at outstanding principal balances, adjusted for unamortized deferred fees

and costs, net of an allowance for expected credit losses. Loan origination fees and costs are deferred and amortized over the

life of the loan. Accrued interest receivable is reported in accrued investment income on the consolidated balance sheets.

Interest income, including amortization of deferred fees and expenses, is recorded in net investment income on the consolidated

statements of income (loss) using the effective interest rate method. Mortgage loans supporting a block of structured settlement

annuities in connection with the Income Annuities Inforce Reinsurance Transaction (Note 7) are measured at fair value, with

changes in fair value recorded in earnings as realized gains (losses).

***Cash, Cash Equivalents, and Short-Term Investments***

Cash and cash equivalents consist of cash on deposit and bonds used to facilitate liquidity needs. Cash and cash equivalents

are carried at cost, which approximates fair value and is consistent with GAAP. As of December 31, 2025 and 2024, $1,767.9, or

98.8%, and $1,292.0, or 95.7%, respectively, of total cash was held at one highly rated financial institution.

Short-term investments consist of bonds and other highly liquid investments such as short-term intercompany loans. Short-term

bonds are recorded in the same manner as similar long-term investments, and are consistent with GAAP. Short-term

intercompany loans are carried at the unpaid principal balance plus accrued interest, and are consistent with GAAP. See Note 13

for further discussion.

***Derivatives***

The Company uses derivative financial instruments to hedge certain portions of its exposure to equity market risk, interest rate

risk, and foreign currency exchange risk.

The accounting for changes in the fair value of derivative instruments depends on whether it qualifies and has been designated

for hedge accounting. To qualify for hedge accounting treatment, a derivative must be highly effective in mitigating the

designated risk of the hedged item. Effectiveness of the hedge is formally assessed at inception and throughout the life of the

hedging relationship. Derivative instruments that qualify and are designated for hedge accounting are valued in a manner

consistent with the items being hedged. Cash flows from derivative instruments that are designated and qualify for hedge

accounting and economic hedges are reported consistently with the cash flows from the hedged item. If a derivative instrument

does not qualify or is not designated for hedge accounting, it is recognized at fair value with the changes in its fair value

recorded as unrealized gains or losses in surplus.

Cross currency swaps, treasury locks, bond forwards, and the majority of our interest rate swaps qualify and are designated for

hedge accounting and are recognized at amortized cost in the balance sheets. Periodic payments and receipts on these

derivatives are recorded on an accrual basis within net investment income. Net realized capital gains (losses) are recognized

upon termination or maturity of these contracts in a manner consistent with the hedged item, and when subject to the interest

maintenance reserve (IMR), are transferred to the IMR, net of taxes.

The Company's equity market contracts (index options), interest rate caps and floors, futures, and foreign exchange forwards do

not qualify and/or are not designated for hedge accounting. Pursuant to the prescribed practice discussed above, the index

options for FIA products are accounted for using the amortized cost method, under which the cost is amortized through

investment income on the statements of operations. When the options mature, any value received by the Company is reflected

as net investment income. Index options for IUL and RILA products are recorded at fair value, with changes in fair value

recorded in capital realized gains (losses) on the statements of operations. Pursuant to the permitted practice discussed above,

foreign exchange forwards are recorded at fair value, with changes in fair value recorded in the statements of operations. Other

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

derivatives that do not qualify or are not designated for hedge accounting are recognized at fair value with changes in fair value

recorded as unrealized gains or losses in surplus.

The maximum length of time over which the Company is hedging its exposure to the variability in future cash flows for

forecasted transactions is 20 years.

Under GAAP, derivative instruments are recorded at fair value, and changes in the fair value of derivative instruments are

reported through earnings unless they qualify and are designated for hedge accounting. When a derivative is designated as a

cash flow hedge and is determined to be highly effective, changes in its fair value are recorded as a component of AOCI and

reclassified into net income in the same period during which the hedged transaction affects net income.

***Other Invested Assets***

Other invested assets consist primarily of limited partnership investments, including private debt, private equity, hedge fund

investments, as well as tax credit investments, residual tranches, and capital and surplus notes. The Company has commitments

to fund certain investments. When the amounts and timing of expected contributions are estimable, the commitments are

recorded as part of the carrying value of the investment. When the timing of call amounts is not known, the expected contribution

is disclosed as an unfunded commitment. See Note 14 for further discussion.

*Limited Partnerships (LPs)*

LP investments are reported at the underlying audited U.S. GAAP equity of the investee, with net asset value (NAV) used as a

practical expedient to estimate fair value. A portion of the Company's LP investments are held in a segregated portfolio that

support a block of structured settlement annuities in connection with the Income Annuities Inforce Reinsurance Transaction.

Pursuant to the permitted practice from the Department related to equity and equity-type investments discussed above, the

changes in fair value of those LP investments are recorded in net realized gains (losses) on the statements of operations and are

determined on a specific-identification basis.

The Company has commitments to fund its LP investments, which are disclosed in Note 14.

Under GAAP, LP investments are recorded at fair value. Changes in the fair value of these investments are recorded in net

realized gains (losses) on the consolidated statements of operations. The Company elected the fair value option for these

investments, regardless of ownership percentage, to standardize the related accounting and reporting.

*Tax Credit Investments*

Tax credit investments primarily consist of low-income housing tax credits (LIHTC) investments, which are LPs that are

established to fund low-income housing projects and other qualifying purposes, where the primary return on investment is in the

form of income tax credits. These investments are initially recorded at the present value of all expected contributions, which are

considered unconditional and legally binding. Amortization of LIHTC investments is based on the proportion of tax benefits

received in the current year to total estimated tax benefits to be allocated to the Company. Write downs for these investments is

recorded when the carrying value of the investment exceeds the fair value. Write downs can also occur when a tax credit has

been recaptured or if it is probable that future tax benefits will not be received as expected. Write downs are recorded in net

realized capital gains (losses). The Company has commitments to fund its LIHTC investments, which are reflected in the carrying

value of the investments.

Under GAAP, the Company elected to account for tax credit investments under the equity method. Typically, the investment is

written down if the carrying value exceeds the fair value. Activity related to these investments is recorded in net realized gains

(losses) on the statements of operations.

*Residual Tranches*

Residual tranches exist within investment structures that issue one or more classes of debt securities created for the primary

purpose of raising debt capital backed by collateral assets. The primary source of debt repayment is derived through rights to the

cash flows of a discrete pool of collateral assets, which generates cash flows that provide interest and principal payments to debt

holders through a contractually prescribed distribution methodology. Once those contractual requirements are met, the remaining

cash flows are provided to the residual tranche investor. The payments to the residual holder may vary significantly, both in

timing and amount, based on the underlying collateral performance. Residual tranches are reported at the lower of amortized

cost or fair value under the allowable earned yield method. For residuals carried at fair value, the related changes in net

unrealized gains (losses) are recorded within unassigned funds, net of related deferred income taxes on a specific-identification

basis.

The Company has commitments to fund certain residual tranche investments. The expected contribution is disclosed as an

unfunded commitment. See Note 14 for further discussion.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

Under GAAP, residual tranches are recorded at fair value. Changes in the fair value of these investments are recorded in net

realized gains (losses) on the consolidated statements of operations. The Company elected the fair value option for these

investments, regardless of ownership percentage, to standardize the related accounting and reporting.

**Nonadmitted Assets**

Certain assets designated as nonadmitted and other assets not specifically identified as an admitted asset are excluded from the

balance sheets and are charged directly to unassigned funds. Nonadmitted assets are composed principally of goodwill, certain

uncollected premiums and agents' balances, DTAs, accounts and notes receivable, and other assets. Under GAAP, such assets

are included in the balance sheets to the extent the assets are recoverable.

**Reinsurance**

The Company uses reinsurance across its businesses to spread risk and limit losses. Reinsurance agreements are evaluated for

risk transfer to determine whether they qualify for traditional reinsurance accounting under SAP. If they do not qualify for risk

transfer under SAP, they are accounted for using deposit accounting.

For assumed reinsurance, the Company accounts for premiums, commissions, expense reimbursements, benefits, and reserves

related to reinsured business consistent with those used in accounting for the original policies issued and the terms of the

reinsurance contracts.

For ceded reinsurance, premiums, benefits, and the reserves for policy and contract liabilities are reported net of reinsured

amounts. For modified coinsurance agreements, the Company retains the assets and reserves of the underlying business on the

balance sheets. The net impact from activity related to modified coinsurance agreements is shown in the reserve adjustment on

reinsurance ceded on the statements of operations. For coinsurance with funds withheld agreements, the Company takes a

reserve credit for reserves ceded and retains the assets on its balance sheets. A funds withheld liability is established initially for

the amount of reserves that were ceded. The reserves are remeasured each period, and changes are recorded as an adjustment

to the funds withheld liability on the balance sheets. Periodically, the funds withheld liability is adjusted to reflect credited

investment returns (or contractually agreed interest) attributable to the reinsurer under the treaty terms. Refer to Note 7 for

further discussion.

Initial gains on reinsurance of existing in-force blocks of business are recorded as an increase to surplus, net of federal income

tax. This increase to surplus is amortized into income, net of tax, as profits are recognized on the underlying business.

Under GAAP, future policy benefits and claims are reported gross of any related reinsurance recoverables, which are reported as

assets. Certain reinsurance contracts that meet risk transfer requirements under SAP have been accounted for using traditional

reinsurance accounting; whereas, such contracts that did not meet GAAP risk transfer requirements are accounted for using

deposit accounting under GAAP. For modified coinsurance agreements that do not qualify for reinsurance accounting under

GAAP, the Company establishes a deposit asset, representing ceded reserves, and funds withheld liability, representing the

assets supporting ceded reserves. The Company also recognizes an embedded derivative related to the funds withheld assets.

**Benefit Reserves**

Aggregate reserves for payment of future life, health, and annuity benefits are based on published tables in accordance with

applicable actuarial standards. The reserves are at least as great as the minimum aggregate amounts required by the

Department. Surrender values on policies do not exceed the corresponding benefit reserves.

Additional reserves are established if the results of cash flow testing under various interest rate scenarios indicate the need for

such reserves, or if the net premiums exceed the gross premiums on any insurance in-force. For substandard lives, either extra

premium is charged or the gross premium for a rated age is charged; mean reserves are determined by computing the regular

mean reserve for the plan at any rated age and, in addition, holding one-half of any extra premium charge for the year. The

Company does not use anticipated investment income as a factor in its premium deficiency calculation.

Tabular interest, tabular reserves less actual reserves released, and tabular cost are determined by formula. Tabular interest on

funds not involving life contingencies for each valuation rate of interest are calculated as the change in reserves minus premiums

plus benefits.

The Company waives deduction of deferred fractional premiums upon the death of the insured and returns any premium beyond

the date of death.

Reserves for deposit-type contracts that do not subject the Company to risks arising from policyholder mortality or morbidity are

equal to deposits received and interest credited to the benefit of the contract holders, less surrenders or withdrawals that

represent a return to the contract holders.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

Aggregate reserves on group life and accident and health policies represent the estimated ultimate net cost of all reported and

unreported claims at the balance sheet date. For group long-term disability and group life premium waiver, the liabilities for

losses and loss/claim adjustment expense on reported claims are classified as disabled life reserves (DLR); these reserves are

calculated on a seriatim basis using tabular methods and discounted for interest, with assumptions reviewed on an annual basis.

The remaining aggregate reserves on these group benefit products are for unreported claims and are classified as incurred but

not reported (IBNR); these reserves are calculated using a blend of completion factors and loss ratio assumptions. Assumptions

and adequacy are reviewed quarterly.

Under GAAP, these policy reserves are calculated based on estimated expected experience or actual account balances, and are

dependent on the type of product and product features. For all products, cash flow assumptions used to establish the associated

liabilities are updated annually, typically in the third quarter, and actual experience is incorporated on a quarterly basis to

retrospectively reflect changes in actuarial assumptions.

For traditional and term life policies and life-contingent SPIA products, policy reserves are estimated as the present value of

future policyholder benefits and related expenses, less the present value of future net premiums. This is referred to as the liability

for future policy benefits (LFPB). For these contracts, the amount and timing of benefit payments depend on policyholder

mortality or morbidity. LFPB is accrued over time as premium revenue is recognized.

For group long-term disability, group life, and other group accident and health policies, policy reserves are calculated consistent

with the method described above under SAP but with assumptions appropriate for GAAP.

For UL and investment-type products, including DA contracts, non-life contingent SPIA, FIA, RILA, institutional, and UL policies,

policyholder account balances (PAB) include the contract value that has accrued to the benefit of the policyholder as of the

balance sheet date. The liabilities are equal to deposits plus interest credited, less withdrawals, surrender charges, and

policyholder assessments. The liability for the indexed account portions of contracts with indexed or index-linked features

(indexed products) represents the present value of future estimated guaranteed benefits, as well as embedded derivatives

related to expected index credits on these contracts and policies. The embedded derivatives are recorded at fair value. Indexed

products include FIA, RILA, and IUL.

Contracts or contract features that provide protection to the policyholder from capital market risk, including equity, interest rate, or

foreign exchange risk, by transferring such risk to the Company are referred to as market risk benefits (MRBs). The Company

issues certain indexed annuity contracts and other investment-type contracts that include MRBs. MRBs are measured at fair

value at the contract level and can either be in an asset or liability position, depending on certain inputs at the reporting date. The

fair value of MRBs is determined using either a non-option or option based approach depending on fee structure, with no

accounting gain or loss recognized at contract inception.

For contracts or contract features that provide for potential benefits in addition to the account balance, but are not MRBs, such as

UL products, the Company establishes additional reserves based on a benefit ratio which is calculated by estimating the present

value of expected benefit payments over the life of the contract from inception, divided by the present value of total expected

assessments over the life of the contract. The benefit ratio is multiplied by the cumulative assessments recorded from contract

inception through the balance sheet date, less the cumulative payments plus interest to arrive at the reserve liability.

**Policy and Contract Claims**

Claims reserves on life, and accident and health policies represent the estimated ultimate cost of all reported and unreported

claims, net of reinsurance, as of the balance sheet date. The reserves for reported but unpaid claims incurred are estimated

using individual valuations and statistical analyses. The liability held for pending life insurance claims is equal to the face amount

of the policy. For medical stop-loss, group life and DI policies, and absence management and group voluntary benefits policies,

the reserves are for unreported claims and are classified as IBNR and calculated as described above.

Under GAAP, liabilities for known and due claims primarily represent liabilities for claims under medical stop-loss, group life, DI,

and individual life policies. These liabilities are established on the basis of reported losses. IBNR is typically established for

medical stop-loss and group life and DI policies based on expected loss ratios, claims paying completion patterns, and historical

experience. Actuarial claim reserves are established for LTD and group life premium waiver policies based on the actuarial

present value of future benefit payments, net of terminations and reinsurance recoverables, based on the Company's best

estimate.

**Asset Valuation Reserve** 

The asset valuation reserve (AVR) provides a valuation allowance for invested assets and is calculated based on a formula

prescribed by the NAIC. This reserve acts to mitigate potential credit-related losses on invested assets. Changes in the AVR are

reflected directly in unassigned funds. No such reserve exists under GAAP.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**Interest Maintenance Reserve**

The IMR defers after-tax realized capital gains (losses) resulting from the effect of changes in the general level of interest rates

on the disposal or interest-related impairment of bonds. These deferrals are based on a formula prescribed by the NAIC and are

amortized into income over the approximate remaining life of the investment sold or impaired, using the grouped method.

Realized interest-related gains or losses that arise from the sale of investments required to provide cash flow to meet "excess

withdrawal activity" are excluded from the IMR. Under GAAP, realized investment gains (losses) from sales and impairments are

reported in earnings in the period in which the assets are sold, and no such reserve is recorded.

**Federal Income Taxes**

The Company is included as a member of a consolidated federal income tax return group under the Parent. The method of

allocation of current income taxes between the affiliates is subject to a written agreement approved by each respective

company's board of directors. Income tax expense is generally allocated to those entities within the group as if each individual

entity filed a separate return. Current tax credits are determined on the basis of utilization by the consolidated group. The

provision for federal income taxes is based on amounts determined to be payable as a result of current year operations.

Intercompany balances are settled quarterly.

Deferred federal income taxes are provided for differences between the book and tax bases of assets and liabilities. In

determining admissibility, gross DTAs are subject to a statutory valuation allowance if, based on the weight of available evidence,

it is more likely than not that some portion or all of the gross DTAs will not be realized. The gross DTAs remaining after the

application of a statutory valuation allowance, if any, are admitted subject to admissibility tests. Remaining DTAs after application

of the admissibility tests are nonadmitted. Changes in deferred taxes are recorded directly to unassigned funds.

Under GAAP, DTAs are recognized only to the extent that it is more likely than not they will be realized. A valuation allowance is

established when DTAs cannot be recognized. Changes in deferred taxes are reported in earnings or as a component of AOCI.

Refer to Note 11 for further discussion.

**Separate Accounts**

Separate account assets represent segregated funds administered and invested for the exclusive benefit of policyholders. For

variable separate account products, the assets of these separate accounts consist of designated underlying funds and are

reported at fair value. Investment risks associated with fair value changes are borne by the policyholders. Separate account

liabilities represent reserves established to meet withdrawal and future benefit payment provisions of contracts with these

policyholders. The separate account assets are not subject to liabilities arising out of any other business the Company may

conduct.

The Company administers separate accounts for BOLI policyholders. The assets of these accounts include bonds and mortgage

loans. Pursuant to the accounting elections discussed above, bonds are held at amortized cost, and mortgage loans are held at

outstanding principal loan balance less any recognized impairment. The majority of these assets are legally segregated and are

not subject to claims that arise out of the Company's other business activities. The liabilities of these separate accounts

represent reserves established to meet withdrawal and future benefit payment provisions of contracts with the policyholders.

The Company also administers separate accounts relating to index-linked funds for RILA policyholders. The assets of these

accounts include bonds, mortgage loans, common and preferred stock, derivatives, and other invested assets. Pursuant to the

accounting elections discussed above, bonds are held at amortized cost; mortgage loans are held at outstanding principal loan

balance less any recognized impairment, and common stock and derivatives are carried at fair value. Changes in fair value of

index options are reported as net realized capital gains (losses) and as a change in surplus for all other derivative types.

Preferred stocks and other invested assets are reported consistent with those in the Company's investment portfolio, as

described above. Except for contracts issued in Texas, Alaska, and Washington, these assets are not legally segregated and are

subject to claims that arise out of the Company's other business activities. The liabilities of these separate accounts represent

reserves established to equal the policyholder cash surrender value on index-linked funds.

The operations of all separate accounts, excluding investment gains (losses) allocatable solely to the policyholders, are

combined with the general account of the Company on the statements of operations under the appropriate captions.

Transactions such as premium deposits, surrenders, and withdrawals are offset by a corresponding increase or decrease in net

transfers to the separate accounts.

For variable universal life contracts, the Company offers a secondary guarantee that the policy remains in force even if the policy

account value is below zero. For variable annuity contracts with guaranteed minimum death benefits (GMDB), the Company

contractually guarantees death benefits that may exceed a policyholder's account balance. The Company reinsures most of the

GMDB risk on its variable annuity contracts.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

Under GAAP, separate account assets are reported at fair value. Separate account liabilities are set equal to separate account

assets. Investment activity accrues directly to the policyholders and is not included in the Company's revenue. Assets and

liabilities associated with BOLI policies and RILA contracts do not qualify for separate account treatment under GAAP, as the

Company retains the investment risk.

**Surplus Notes**

Surplus notes issued by the Company are reported as surplus. They are subordinated to policyholder and creditor claims and

require approval from the Department prior to payment of principal or interest. Upon approval, interest is recorded in net

investment income in the statement of operations. Premiums or discounts on surplus notes are recorded as adjustments to the

carrying value and recognized through the statement of operations proportionally with approved interest payments.

Under GAAP, surplus notes are accounted for as debt and presented as liabilities, with interest expense recognized in the

statement of operations over the life of the instrument and any issuance discount or premium amortized using the effective

interest method.

**Accounting Pronouncements Newly Adopted**

***Statutory Ref No. 2019-21 Bond Definition***

In 2023, the NAIC adopted revisions to SSAP No. 26, *Bonds*, and SSAP No. 43, *Loan-Backed and Structured Securities*, for the

PBBD and the accounting for bonds as ICO and ABS, as well as revisions to various SSAPs that have been updated to reflect

the revised definition and/or SSAP references. The Company adopted the revisions prospectively effective January 1, 2025 and

updated its internal processes and controls to ensure compliance with the revised SSAP.

As a result of the adoption, on January 1, 2025, certain securities were reclassified from bonds totaling $165.9, including $129.9

reclassified to preferred stocks and $36.0 reclassified to other invested assets. The securities transferred to preferred stocks

include assets within the Company's separate account assets. The reclassification of securities from bonds to preferred stocks

resulted in a change in measurement from amortized cost to fair value and after remeasurement and transition, the book

adjusted carrying value was $132.7. One security reclassified from bonds to other invested assets resulted in a change in

measurement from amortized cost to lower of amortized cost or fair value and after remeasurement and transition, the book

adjusted carrying value was $9.5.

The aggregate impact of the reclassifications and related measurement changes increased the book adjusted carrying value of

the reclassified securities to $168.3, with a corresponding increase of $2.4 to unassigned funds within surplus. Certain

disclosures herein have been updated to reflect the adoption of the PBBD beginning with the year ended December 31, 2025.

In 2024, the NAIC adopted revisions to SSAP No. 21, *Other Admitted Items*, related to the accounting and reporting of residual

tranches. The revisions require all residual tranches, regardless of legal form, to be accounted for under SSAP No. 21 and

reported as other invested assets (Schedule BA). The Company adopted the revisions effective January 1, 2025, on a

prospective basis.

Upon adoption, the Company elected to report all residual tranches at the lower of amortized cost or fair value using the

allowable earned yield method. Certain residual tranches previously accounted for at fair value under prior guidance were

remeasured, and unrealized positions were recognized as realized. The reported fair value of such securities as of December 31,

2024 became the new cost basis as of January 1, 2025. As a result of this election, the Company recognized a realized gain of

$0.6, with a corresponding decrease to unrealized gains within surplus. The adoption resulted in no net impact to surplus.

Certain disclosures herein have been updated to reflect this adoption beginning with the year ended December 31, 2025.

***Statutory Ref No. 2022-14a Investments in Tax Credit Structures***

In 2024, the NAIC adopted new SAP concept revisions to expand the scope of SSAP No. 93, *Low-Income Housing Tax Credit* 

*Property Investments* to include all federal and state tax credit investment structures, regardless of structure and type of state or

federal tax program, and provide new guidance on the accounting, recognition, and reporting of tax credit investment structures.

The Company adopted the revisions effective January 1, 2025 and updated its internal processes and controls to ensure

compliance with the revised SSAP. The adoption did not have a material impact on the Company's financial statements or

disclosures therein.

***Statutory Ref No. 2023-17 Short-Term Investments***

In 2023, the NAIC adopted revisions to SSAP No. 2, *Cash, Cash Equivalents, Drafts, and Short-Term Investments*. The adopted

revisions further restrict the investments that are permitted to be reported as cash equivalents and short-term investments. The

Company adopted the revisions effective January 1, 2025 and updated its internal processes and controls to ensure compliance

with the revised SSAP. The adoption did not have an impact on the Company's financial statements or disclosures therein.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

***Statutory Ref. No. 2024-08 Consistency Revisions for Residuals***

In 2024, the NAIC adopted revisions to SSAP No. 21, *Other Admitted Assets* to incorporate clarifying edits for the formal

definition of residuals and the accounting and reporting guidance. The Company adopted the revisions effective January 1, 2025

and updated its internal processes and controls to ensure compliance with the revised standards. The adoption did not have a

material impact on the Company's financial statements or disclosures herein.

***Statutory Ref No. 2024-09 SSAP No. 2 Clarification***

In 2024, the NAIC adopted revisions to eliminate lingering references implying that asset-backed securities, mortgage loans, or

other Schedule BA items are permitted to be reported as cash equivalents or short-term investments. The revisions are effective

January 1, 2025. The Company adopted the revisions effective January 1, 2025 and updated its internal processes and controls

to ensure compliance with the revised standards. The adoption did not have an impact on the Company's financial statements or

disclosures herein.

***Statutory Ref No. 2024-28 SSAP No. 41 Holders of Capital Notes***

In 2025, the NAIC adopted revisions to SSAP No. 41, *Surplus Notes* to clarify the treatment of capital notes, which define capital

notes as regulatory capital instruments where interest can be canceled in time of financial stress without default.

The Company adopted the revisions effective immediately and updated its internal processes and controls to ensure compliance

with the revised standards. The adoption did not have an impact on the Company's financial statements or disclosures herein.

***Statutory Ref. No. 2024-20 Restricted Asset Clarification***

In 2025, the NAIC adopted revisions to SSAP No. 1, *Accounting Policies, Risks and Uncertainties and Other Disclosures,* to

clarify that assets that are reinsured under modified coinsurance and funds withheld arrangements shall be captured as

restricted assets. The revisions are effective December 31, 2025. The Company's financial statements and disclosures have

been updated to reflect the revisions herein, see Note 3, Restricted Assets.

***Statutory Ref. No. 2025-05 Reinsurer Affiliated Assets***

In 2025, the NAIC adopted revisions to SSAP No. 1, *Accounting Policies, Risks and Uncertainties and Other Disclosures*, to

require restricted asset disclosures on a quarterly and annual basis and require the Company to identify any investments in a

reinsurer's modified coinsurance and funds withheld portfolio that are affiliated with the reinsurer. The Company adopted the

revisions effective December 31, 2025 and updated its internal processes and controls to ensure compliance with the revised

standards. The Company's financial statements and disclosures have been updated to reflect the revisions herein, see Note 3,

Restricted Assets.

***Statutory Ref No. 2022-19 Negative IMR***

In 2023, the NAIC adopted interpretation (INT) 23-01 which provides a temporary, optional INT to allow reporting entities with

risk-based capital (RBC) greater than 300%, after certain adjustments, to admit net negative or disallowed IMR up to 10% of the

reporting entity's adjusted general account capital and surplus. The INT includes specific guidance regarding restrictions as to

what should be included in or excluded from the IMR and calculations, specific guidance for general account versus separate

accounts, as well as specific reporting and disclosure requirements. INT 23-01's effective date was extended to December 31,

2026 and will be automatically nullified on January 1, 2027, however the effective date can be adjusted in response to regulatory

actions to establish statutory accounting guidance specific to net negative or disallowed IMR.

The Company does not have net negative IMR as of December 31, 2025. The Company has not yet elected to apply the optional

INT, but is permitted to do so until January 1, 2027. The Company would evaluate the impact of the election on its policies,

processes, and applicable systems and make a determination if IMR becomes net negative.

**Accounting Pronouncements Not Yet Adopted**

***Statutory Ref No. 2024-10 Separate Accounts***

In 2024, the NAIC adopted revisions to SSAP No. 56, *Separate Accounts*. The adopted revisions clarify accounting guidance for

book value separate accounts, including prescribed accounting guidance for invested asset transfers to/from the general account

and separate accounts as well as clarification of invested assets permitted to be held in book value separate accounts. The

revisions are effective January 1, 2026.

The Company is currently evaluating the impact of the revised SSAP and reviewing its policies, processes, and applicable

systems to determine the impact the revisions will have on its operations and financial statements. The Company plans to adopt

the revisions effective January 1, 2026.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

***Statutory Ref No. 2025-13 Residential Mortgage Loans Held in Statutory Trusts***

In 2025, the NAIC adopted revisions to SSAP No. 37, *Mortgage Loans*, to expand the scope to include qualifying statutory trusts

that hold residential mortgage loans (RMLs) and to establish specific criteria that must be met for a statutory trust to qualify. The

adopted revisions establish accounting and reporting guidance for RMLs held in qualifying statutory trusts and require such loans

to be reported as mortgage loans on Schedule B as if directly held by the reporting entity. The revisions also provide related

guidance in SSAP No. 2, *Cash, Cash Equivalents, Drafts and Short-Term Investments*, and SSAP No. 40, *Real Estate* 

*Investments*, for cash and foreclosed real estate held within qualifying statutory trusts. The revisions are effective January 1,

2027, with early adoption permitted.

The Company is currently evaluating the impact of the revised SSAPs and reviewing its policies, processes, and reporting

practices to ensure compliance with the updated guidance. The Company plans to early adopt the revisions effective January 1,

2026. ***Statutory Ref No. 2025-19 Private Placement Securities***

In 2025, the NAIC adopted revisions to SSAP No. 2, *Cash, Cash Equivalents, Drafts and Short-Term Investments*, SSAP No. 21,

*Other Admitted Assets*, SSAP No. 26, *Bonds*, SSAP No. 30, *Unaffiliated Common Stock*, SSAP No. 32, *Preferred Stock*, and

SSAP No. 43, *Asset-Backed Securities*, to incorporate new disclosure and reporting requirements related to private placement

securities. The adopted revisions require identification within the investment schedules of whether each security is publicly

registered, a Rule 144A private placement, another private placement security (including Regulation D), or otherwise not subject

to SEC registration. The revisions also require an aggregate annual disclosure by investment schedule detailing total book/

adjusted carrying value, fair value (including Level 2 and Level 3 amounts), deferred interest, paid-in-kind interest, and the

portion supported by private letter ratings for each classification. The revisions are effective December 31, 2026.

The Company is currently evaluating the impact of the revised SSAPs and reviewing its policies, processes, and applicable

systems to determine the impact the revisions will have on its financial statement disclosures and investment reporting. The

Company plans to adopt the revisions effective December 31, 2026.

***Statutory Ref No. 2025-20 Debt Security & Residual Interest Disclosures***

In 2025, the NAIC adopted revisions to SSAP No. 26, *Bonds*, SSAP No. 43, *Asset-Backed Securities*, SSAP No. 21, *Other* 

*Admitted Assets*, and SSAP No. 2, *Cash, Cash Equivalents, Drafts and Short-Term Investments*, to improve consistency and

transparency of debt security and residual interest disclosures. The adopted revisions clarify and align disclosure requirements

across the applicable SSAPs, expand certain disclosures to include non-bond debt securities and residual interests, incorporate

standardized disclosure templates within the statutory financial statements, and introduce new general interrogatories related to

residual measurement methods (Practical Expedient vs. Allowable Earned Yield). The revisions are effective December 31, 2026.

The Company is currently evaluating the impact of the revised SSAPs and reviewing its policies, processes, and applicable

systems to determine the impact the revisions will have on its financial statement disclosures and reporting practices. The

Company plans to adopt the revisions effective December 31, 2026.

**Subsequent Events**

The Company has evaluated the effects of events subsequent to December 31, 2025, and the accounting and disclosure

requirements related to subsequent events are included in the financial statements. Management has assessed material

subsequent events through April 10, 2026, the date the financial statements were available to be issued.

**Accounting Changes and Correction of Errors**

***Accounting Changes***

Aside from the adoption of the PBBD discussed above, the Company had no accounting changes in 2025 or 2024.

***Correction of Errors***

The Company recorded error corrections through beginning of year surplus in accordance with SSAP No. 3, *Accounting* 

*Changes and Correction of Errors* totaling $(45.1) and $(9.9) for the years ended December 31, 2025 and 2024, respectively.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**3. Investments**

The book/adjusted carrying value and fair value of investments in bonds, preferred stocks, and common stocks are in the

following tables. Beginning in 2025, the table below has been updated to be presented in accordance with the PBBD.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | **Book/** <br>**Adjusted** <br>**Carrying** <br>**Value**<br>| **Gross**<br>**Unrealized** <br>**Gains**<br>| **Gross**<br>**Unrealized** <br>**Losses**<br>| **Fair** <br>**Value**<br>|
| Bonds: |  |  |  |  |
| ICO: |  |  |  |  |
| U.S. government obligations | **$1116.4** | **$1.7** | **$(4.1)** | **$1114.0** |
| Non-U.S. sovereign jurisdiction | **384.1** | **5.7** | **(26.4)** | **363.4** |
| Municipal bonds - general obligations (direct and guaranteed) | **37.3** | **0.2** | **(1.9)** | **35.6** |
| Municipal bonds - special revenues | **446.1** | **3.7** | **(26.9)** | **422.9** |
| Project finance bonds issued by operating entities - unaffiliated | **9.6** | **—** | **—** | **9.6** |
| Corporate bonds - unaffiliated | **21763.7** | **335.7** | **(906.6)** | **21192.8** |
| Single entity-backed obligations - unaffiliated | **218.6** | **1.0** | **(9.1)** | **210.5** |
| SVO-identified bond exchange traded funds - systemic value | **185.1** | **0.1** | **(1.1)** | **184.1** |
| Bank loans - acquired - unaffiliated | **514.2** | **2.1** | **(6.8)** | **509.5** |
| Other issuer credit obligations - unaffiliated | **353.7** | **2.6** | **(6.6)** | **349.7** |
| Total ICO | **25028.8** | **352.8** | **(989.5)** | **24392.1** |
| ABS: |  |  |  |  |
| Agency CMBS and RMBS - guaranteed and not/partially guaranteed | **186.8** | **1.2** | **(27.7)** | **160.3** |
| Non-agency CMBS - unaffiliated | **554.6** | **6.0** | **(11.7)** | **548.9** |
| Non-agency RMBS - unaffiliated | **417.1** | **10.4** | **(2.7)** | **424.8** |
| Non-agency CLOs/CBOs/CDOs - affiliated | **90.6** | **0.3** | **—** | **90.9** |
| Non-agency CLOs/CBOs/CDOs - unaffiliated | **9139.7** | **20.5** | **(13.7)** | **9146.5** |
| Other financial ABS - unaffiliated | **484.5** | **5.2** | **(4.7)** | **485.0** |
| Other financial ABS - unaffiliated (not self-liquidating) | **3.4** | **—** | **—** | **3.4** |
| Equity-backed securities - unaffiliated (not self-liquidating) | **8.1** | **—** | **—** | **8.1** |
| Lease-backed transactions - unaffiliated (full analysis) | **130.9** | **3.1** | **(0.3)** | **133.7** |
| Lease-backed transactions - unaffiliated (practical expedient) | **577.5** | **5.1** | **(24.7)** | **557.9** |
| Other non-financial ABS - unaffiliated (full analysis) | **435.1** | **7.9** | **(2.3)** | **440.7** |
| Other non-financial ABS - unaffiliated (practical expedient) | **771.9** | **8.5** | **(4.3)** | **776.1** |
| Total ABS | **12800.2** | **68.2** | **(92.1)** | **12776.3** |
| Total bonds | **37829.0** | **421.0** | **(1081.6)** | **37168.4** |
| Preferred stocks (1) | **227.3** | **7.2** | **(18.3)** | **216.2** |
| Affiliated common stocks (1) | **218.0** | **66.3** | **—** | **284.3** |
| Unaffiliated common stocks (1) | **695.0** | **17.2** | **(6.6)** | **705.6** |
| Total .......................................................................................................................... | **$38969.3** | **$511.7** | **$(1106.5)** | **$38374.5** |
| ____________________ |  |  |  |  |

---

(1)The table presents preferred and common stocks as they are carried, at either cost, amortized cost, or at lower of cost, amortized cost, or fair

value, depending on their NAIC designation.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **Book/** <br>**Adjusted** <br>**Carrying** <br>**Value**<br>| **Gross**<br>**Unrealized** <br>**Gains**<br>| **Gross**<br>**Unrealized** <br>**Losses**<br>| **Fair** <br>**Value**<br>|
| Bonds: |  |  |  |  |
| U.S. government and agencies ..................................................................... | $470.7 | $— | $(10.1) | $460.6 |
| Foreign governments and agencies ............................................................. | 58.7 |  | (12.8) | 45.9 |
| States, territories, and possessions .............................................................. | 3.1 |  |  | 3.1 |
| Political subdivisions ....................................................................................... | 45.9 |  | (3.3) | 42.6 |
| Special revenue and assessments ............................................................... | 465.1 | 1.7 | (39.0) | 427.8 |
| Industrial and miscellaneous.......................................................................... | 20595.2 | 148.7 | (1241.4) | 19502.5 |
| Hybrid securities .............................................................................................. | 395.1 | 8.4 | (11.0) | 392.5 |
| Collateralized loan obligations (CLOs): |  |  |  |  |
| Industrial and miscellaneous ....................................................................... | 8183.8 | 39.6 | (14.2) | 8209.2 |
| Mortgage- and asset-backed securities: |  |  |  |  |
| U.S. government and agencies .................................................................. | 27.2 |  | (2.9) | 24.3 |
| Special revenue and assessments ............................................................ | 199.1 | 0.5 | (34.9) | 164.7 |
| Industrial and miscellaneous ....................................................................... | 3359.2 | 37.2 | (114.6) | 3281.8 |
| Total bonds .......................................................................................................... | 33803.1 | 236.1 | (1484.2) | 32555.0 |
| Preferred stocks (1) ............................................................................................ | 110.7 |  | (5.6) | 105.1 |
| Affiliated common stocks (1) ............................................................................. | 218.0 | 49.2 | (0.7) | 266.5 |
| Unaffiliated common stocks (1) ........................................................................ | 518.8 | 22.9 | (0.7) | 541.0 |
| Total ......................................................................................................................... | $34650.6 | $308.2 | $(1491.2) | $33467.6 |
| ____________________ |  |  |  |  |

---

(1)The table presents preferred and common stocks as they are carried, at cost, amortized cost, or at lower of cost, amortized cost, or fair value,

depending on their NAIC designation.

The Company maintains a diversified investment portfolio across industries. The following table presents the composition of the

Company's bonds, preferred stocks, and unaffiliated common stocks by sector:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2025** | **2024** | **2024** |
|  | **Fair Value** | **% of Total** | **Fair Value** | **% of Total** |
| Financials ............................................................................................................ | **$19205.5** | **50.6%** | $16281.6 | 49.0% |
| Utilities .................................................................................................................. | **2682.8** | **7.0** | 2471.6 | 7.4 |
| Industrials ............................................................................................................ | **2402.4** | **6.3** | 2156.7 | 6.5 |
| Consumer staples .............................................................................................. | **2369.7** | **6.2** | 2017.5 | 6.1 |
| Consumer discretionary .................................................................................... | **2150.6** | **5.6** | 2198.5 | 6.6 |
| Health care .......................................................................................................... | **1950.2** | **5.1** | 1717.6 | 5.2 |
| Communications ................................................................................................. | **1502.6** | **3.9** | 1293.2 | 3.9 |
| Energy .................................................................................................................. | **1354.2** | **3.6** | 1553.2 | 4.7 |
| Other .................................................................................................................... | **4472.2** | **11.7** | 3511.2 | 10.6 |
| Total ......................................................................................................................... | **$38090.2** | **100.0%** | 33201.1 | 100.0% |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

The following table summarizes the contractual years to maturity of bonds as of December 31, 2025. Actual maturities may differ

from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties.

---

| | | |
|:---|:---|:---|
|  | **Book/ Adjusted** <br>**Carrying Value**<br>| **Fair Value** |
| Years to maturity: |  |  |
| One or less .......................................................................................................................................... | **$1466.0** | **$1464.6** |
| Over one through five ........................................................................................................................ | **10089.9** | **10109.9** |
| Over five through ten ......................................................................................................................... | **6380.5** | **6375.8** |
| Over ten ............................................................................................................................................... | **6907.2** | **6257.7** |
| Total with contractual maturity dates .................................................................................................. | **24843.6** | **24208.0** |
| Securities without contractual maturities ........................................................................................... | **12985.4** | **12960.4** |
| Total bonds ................................................................................................................................................ | **$37829.0** | **$37168.4** |

---

The following table summarizes the Company's net investment income:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Income: |  |  |  |
| Bonds ............................................................................................................................................ | **$1758.2** | $1690.0 | $1499.7 |
| Preferred and common stocks .................................................................................................. | **41.1** | 29.6 | 25.7 |
| Mortgage loans ............................................................................................................................ | **522.0** | 422.5 | 338.4 |
| Derivatives (1) .............................................................................................................................. | **113.9** | 26.0 | (120.3) |
| Other invested assets ................................................................................................................. | **14.7** | 27.7 | (5.1) |
| Cash, cash equivalents, and short-term investments ........................................................... | **105.6** | 112.8 | 113.5 |
| Other .............................................................................................................................................. | **8.0** | 5.9 | 3.6 |
| Total investment income ............................................................................................................... | **2563.5** | 2314.5 | 1855.5 |
| Investment expenses ..................................................................................................................... | **(147.6)** | (122.1) | (98.3) |
| Net investment income ..................................................................................................................... | **$2415.9** | $2192.4 | $1757.2 |
| ____________________ |  |  |  |

---

(1)For the years ended 2025, 2024 and 2023, the balance included $(416.0), $(324.7), and $(260.3), respectively, of amortization of option costs

under IAC 191-97. Refer to Note 2 for further discussion.

Investment income due and accrued that is over 90 days past due is nonadmitted, except for mortgage loans in default. See

Note 2 for the accounting policy related to accrued investment income on mortgage loans. Admitted amounts are reported in

accrued investment income on the balance sheets. The components of accrued investment income are as follows:

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| Gross accrued investment income .......................................................................................................................... | **$421.8** | $365.0 |
| Nonadmitted accrued investment income .............................................................................................................. | **(8.0)** | (2.9) |
| Accrued investment income ........................................................................................................................................ | **$413.8** | $362.1 |

---

The following table summarizes the realized capital gains (losses) from investment sales, dispositions, and write downs:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Bonds ............................................................................................................................................ | **$(14.8)** | $(46.9) | $(138.0) |
| Preferred and common stocks .................................................................................................. | **63.5** | 55.2 | 32.5 |
| Derivatives and other invested assets ..................................................................................... | **33.6** | 61.5 | 87.0 |
| Realized capital gains (losses) before federal income taxes and transfer from IMR .......... | **82.3** | 69.8 | (18.5) |
| Federal income tax benefit (expense) ........................................................................................ | **(12.7)** | (8.4) | 19.7 |
| Amount transferred to the IMR ..................................................................................................... | **13.9** | 43.4 | 101.3 |
| Net realized capital gains (losses) ................................................................................................. | **$83.5** | $104.7 | $102.5 |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

The following table presents the proceeds from sales of bonds (excluding call and maturity proceeds), and the gross gains and

losses realized on those sales:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Proceeds from sales of bonds ...................................................................................................... | **$3993.0** | $3919.2 | $5079.9 |
| Gross gains ..................................................................................................................................... | **26.2** | 21.7 | 28.8 |
| Gross losses ..................................................................................................................................... | **(27.0)** | (47.7) | (137.1) |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**Unrealized Losses and OTTI**

The following tables summarize gross unrealized losses and fair values of the Company's bonds, preferred stocks, and common

stocks, presented by length of time that individual securities have been in a continuous loss position. Beginning in 2025, the table

below has been updated to be presented in accordance with the PBBD.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | **Less Than 12 Months** | **Less Than 12 Months** | **Less Than 12 Months** | **12 Months or More** | **12 Months or More** | **12 Months or More** |
|  | **Fair** <br>**Value**<br>| **Gross** <br>**Unrealized** <br>**Losses**<br>| **# of** <br>**Securities**<br>| **Fair** <br>**Value**<br>| **Gross** <br>**Unrealized** <br>**Losses**<br>| **# of** <br>**Securities**<br>|
| Bonds: |  |  |  |  |  |  |
| ICO: |  |  |  |  |  |  |
| U.S. government obligations | **$310.4** | **$(0.4)** | **9** | **$86.1** | **$(3.6)** | **7** |
| Non-U.S. sovereign jurisdiction | **—** | **—** | **—** | **207.4** | **(26.5)** | **18** |
| Municipal bonds - general obligations (direct <br>and guaranteed)<br>| **1.2** | **—** | **1** | **20.4** | **(1.9)** | **6** |
| Municipal bonds - special revenues | **12.8** | **—** | **4** | **314.6** | **(26.9)** | **45** |
| Project finance bonds issued by operating <br>entities - unaffiliated<br>| **1.3** | **—** | **1** | **—** | **—** | **—** |
| Corporate bonds - unaffiliated | **2174.6** | **(29.0)** | **304** | **7527.1** | **(877.5)** | **1012** |
| Single entity-backed obligations - unaffiliated | **50.2** | **(0.4)** | **2** | **94.4** | **(8.8)** | **16** |
| SVO-identified bond exchange traded funds <br>- systemic value<br>| **166.3** | **(1.0)** | **2** | **4.8** | **(0.1)** | **1** |
| Bank loans - acquired - unaffiliated | **147.6** | **(3.4)** | **99** | **30.9** | **(3.4)** | **38** |
| Other issuer credit obligations - unaffiliated | **4.0** | **—** | **9** | **59.4** | **(6.6)** | **4** |
| Total ICO | **2868.4** | **(34.2)** | **431** | **8345.1** | **(955.3)** | **1147** |
| ABS: |  |  |  |  |  |  |
| Agency CMBS and RMBS - guaranteed and <br>not/partially guaranteed<br>| **2.1** | **(0.1)** | **5** | **116.7** | **(27.8)** | **26** |
| Non-agency CMBS - unaffiliated | **49.6** | **(0.4)** | **18** | **89.6** | **(11.3)** | **37** |
| Non-agency RMBS - unaffiliated | **64.0** | **(0.5)** | **10** | **67.1** | **(2.1)** | **18** |
| Non-agency CLOs/CBOs/CDOs - unaffiliated | **2355.7** | **(7.2)** | **168** | **157.0** | **(6.5)** | **41** |
| Other financial ABS - unaffiliated | **33.7** | **(0.5)** | **14** | **58.5** | **(4.2)** | **5** |
| Other financial ABS - unaffiliated (not self-<br>liquidating)<br>| **0.6** | **—** | **1** | **—** | **—** | **—** |
| Equity-backed securities - unaffiliated (not <br>self-liquidating)<br>| **8.1** | **(0.1)** | **2** | **—** | **—** | **—** |
| Lease-backed transactions - unaffiliated (full <br>analysis)<br>| **17.8** | **(0.2)** | **1** | **—** | **—** | **—** |
| Lease-backed transactions - unaffiliated <br>(practical expedient)<br>| **26.4** | **(1.4)** | **4** | **280.4** | **(23.3)** | **35** |
| Other non-financial ABS - unaffiliated (full <br>analysis)<br>| **17.7** | **(0.2)** | **2** | **110.0** | **(2.1)** | **5** |
| Other non-financial ABS - unaffiliated <br>(practical expedient)<br>| **127.0** | **(0.4)** | **20** | **69.1** | **(3.8)** | **4** |
| Total ABS | **2702.7** | **(11.0)** | **245** | **948.4** | **(81.1)** | **171** |
| Total bonds ................................................................. | **5571.1** | **(45.2)** | **676** | **9293.5** | **(1036.4)** | **1318** |
| Preferred stocks ........................................................ | **—** | **—** | **—** | **63.0** | **(18.3)** | **5** |
| Unaffiliated common stocks .................................... | **56.6** | **(6.6)** | **10** | **—** | **—** | **4** |
| Total ............................................................................... | **$5627.7** | **$(51.8)** | **686** | **$9356.5** | **$(1054.7)** | **1327** |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **Less Than 12 Months** | **Less Than 12 Months** | **Less Than 12 Months** | **12 Months or More** | **12 Months or More** | **12 Months or More** |
|  | **Fair** <br>**Value**<br>| **Gross** <br>**Unrealized** <br>**Losses**<br>| **# of** <br>**Securities**<br>| **Fair** <br>**Value**<br>| **Gross** <br>**Unrealized** <br>**Losses**<br>| **# of** <br>**Securities**<br>|
| Bonds: |  |  |  |  |  |  |
| U.S. government and agencies ........................... | $173.8 | $(2.8) | 11 | $82.4 | $(7.3) | 7 |
| Foreign governments and agencies.................... |  |  |  | 45.9 | (12.8) | 5 |
| States, territories, and possessions .................... |  |  |  | 3.1 |  | 1 |
| Political subdivision ................................................ | 18.0 | (1.1) | 4 | 23.1 | (2.2) | 6 |
| Special revenue and assessments ..................... | 39.6 | (0.6) | 10 | 350.8 | (38.3) | 54 |
| Industrial and miscellaneous ................................ | 4298.1 | (100.2) | 676 | 9304.5 | (1141.2) | 1205 |
| Hybrid securities ..................................................... | 34.1 | (0.2) | 4 | 140.5 | (10.8) | 12 |
| Collateralized loan obligation ............................... | 1015.7 | (2.9) | 68 | 254.5 | (11.3) | 61 |
| Mortgage- and asset-backed securities ............. | 480.6 | (5.8) | 78 | 1459.7 | (146.7) | 212 |
| Total bonds ................................................................. | 6059.9 | (113.6) | 851 | 11664.5 | (1370.6) | 1563 |
| Preferred stocks ........................................................ |  |  |  | 65.8 | (5.6) | 6 |
| Affiliated common stocks ......................................... | 43.3 | (0.7) | 1 |  |  |  |
| Unaffiliated common stocks .................................... | 28.2 | (0.7) | 6 |  |  | 3 |
| Total ............................................................................... | $6131.4 | $(115.0) | 858 | $11730.3 | $(1376.2) | 1572 |

---

The Company reviewed its investments with unrealized losses as of December 31, 2025 and 2024 in accordance with its

impairment policy. The Company's evaluation determined, after the recognition of OTTI, that the remaining declines in fair value

were temporary, and the Company did not intend to sell these securities at an amount below the carrying value prior to maturity

(or recovery). For bonds carried at amortized cost, the Company expects to recover the entire amortized cost basis.

The Company uses both quantitative and qualitative criteria to review all securities in its holdings. Based on the Company's

experience, investments with amortized cost exceeding estimated fair value by less than 20% do not typically represent a

significant risk of impairment under normal market conditions. For those with amortized cost exceeding estimated fair value by

over 20% and those that were downgraded by a rating agency, the Company compares the security's implied credit spread to the

benchmark spread for bonds with significant credit risk. If the security's spread exceeds the defined tolerance compared to this

benchmark, the Company further analyzes the decrease in fair value to determine whether it is an OTTI by considering, among

other factors, the following:

• Extent of downgrades of the security by a rating agency;

• Extent and duration of the decline in fair value below cost or amortized cost;

• Financial condition and near-term prospects of the issuer of the security, including any specific events that may affect its

operations, earnings potential, or compliance with terms and covenants of the security;

• Changes in the financial condition of the security's underlying collateral;

• Nonpayment of scheduled interest, or the reduction or elimination of dividends; and

• Other indications that a credit loss has occurred.

For bonds and preferred stocks, the Company concludes an OTTI has occurred if a security is underwater and there is an intent

to sell the security, or it is more likely than not that the Company will be required to sell the security prior to recovery of its

amortized cost, considering any regulatory developments, prepayment or call notifications, and the Company's liquidity needs.

For OTTI on bonds other than ABS, referred to as loan-backed and structured securities prior to 2025, an impairment loss equal

to the difference between the bond's carrying value and its fair value is recognized within the statements of operations.

ABS, referred to as loan-backed and structured securities prior to 2025, are considered other-than-temporarily impaired when the

Company has concluded it does not have the intent and ability to retain the security for sufficient time to recover the amortized

cost basis, it intends to sell the security prior to maturity at an amount below the carrying value, or it does not expect to recover

the entire amortized cost basis even if it has the intent and ability to hold.

When an OTTI has occurred due to the Company's intent to sell the security or the Company has assessed it does not have the

intent and ability to retain the security until sufficient time to recover the amortized cost basis, an impairment loss equal to the

difference between the security's carrying value and its fair value is recognized within the statements of operations.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

When an OTTI has occurred because the Company does not expect to recover the entire cost basis, even if the Company has

the intent and ability to hold the security, an impairment loss equal to the difference between the security's carrying value and its

estimated recovery value is recognized within the statements of operations. The estimated recovery value is calculated as the

present value of cash flows expected to be collected, discounted at the effective rate immediately prior to the recognition of the

OTTI.

To determine the recovery value of an ABS, referred to as loan-backed and structured securities prior to 2025, the Company

performs an analysis related to the underlying issuer including, but not limited to, the following:

• Expected cash flows from the security;

• Creditworthiness;

• Delinquency, debt-service coverage, and loan-to-value ratios on the underlying collateral;

• Underlying collateral values, vintage year, and level of subordination;

• Geographical concentrations; and

• Susceptibility to prepayment due to changes in the interest rate environment.

The Company records OTTI charges on bonds, unaffiliated common stock, and preferred stock as net realized capital losses on

the statements of operations. The largest write-downs were from investments in the following sectors:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2025** | **2024** | **2024** | **2023** | **2023** |
|  | **Amount** | **% of Total** | **Amount** | **% of Total** | **Amount** | **% of Total** |
| Industrials ............................................................. | **$6.8** | **43.1%** | $2.0 | 12.6% | $— | —% |
| Financials ............................................................. | **5.6** | **35.3** | 3.9 | 24.4 | 2.9 | 14.0 |
| Consumer discretionary ..................................... | **1.3** | **8.5** | 0.7 | 4.0 | 1.1 | 5.4 |
| Health care ........................................................... | **1.0** | **6.1** |  |  |  |  |
| U.S. government (1) ........................................... | **0.6** | **3.7** | 5.7 | 35.2 | 16.5 | 79.4 |
| Communications .................................................. | **0.2** | **1.5** | 0.5 | 3.0 |  |  |
| Utilities ................................................................... | **—** | **—** | 0.8 | 4.7 |  |  |
| Energy ................................................................... | **—** | **—** | 1.9 | 11.5 |  |  |
| Other ..................................................................... | **0.3** | **1.8** | 0.7 | 4.6 | 0.3 | 1.2 |
| Impairment losses recognized in earnings ........ | **$15.8** | **100.0%** | $16.2 | 100.0% | $20.8 | 100.0% |
| ____________________ |  |  |  |  |  |  |

---

(1)Impairments on U.S. government securities are due to the Company's intent to sell and reflect the impact of interest rate movements.

Based on NAIC ratings as of December 31, 2025 and 2024, the Company held below-investment-grade bonds with fair values of

$1,627.8 and $1,742.5, respectively, and book/adjusted carrying values of $1,639.5 and $1,774.5, respectively. These holdings

amounted to 4.4% and 5.4% of the Company's investments in bonds at fair value as of December 31, 2025 and 2024,

respectively.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**Restricted Assets**

The table below provides a summary of restricted assets at book/adjusted carrying value:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | **Total** <br>**Pledged &** <br>**Restricted** <br>**Assets**<br>| **% of Total** <br>**Assets**<br>| **% of Total** <br>**Admitted** <br>**Assets**<br>| **Total** <br>**Pledged &** <br>**Restricted** <br>**Assets**<br>| **% of Total** <br>**Assets**<br>| **% of Total** <br>**Admitted** <br>**Assets**<br>|
| Restricted assets in connection with <br>reinsurance transactions (1) (2) .........................<br>| **$—** | **—%** | **—%** | $18663.8 | 32.4% | 32.6% |
| Assets held under modified coinsurance <br>reinsurance agreements (2)<br>| **24650.8** | **37.1** | **37.8** |  |  |  |
| Assets held under funds withheld <br>reinsurance agreements (2) (3)<br>| **1008.0** | **1.5** | **1.5** |  |  |  |
| FHLB DM capital stock ....................................... | **189.3** | **0.3** | **0.3** | 166.8 | 0.3 | 0.3 |
| State deposits ....................................................... | **11.3** | **—** | **—** | 5.9 |  |  |
| Pledged collateral to FHLB DM | **6813.8** | **10.3** | **10.4** | 6213.8 | 10.8 | 10.9 |
| Other pledged collateral ...................................... | **95.1** | **0.1** | **0.2** | 169.1 | 0.3 | 0.3 |
| Total restricted assets ............................................ | **$32768.3** | **49.3%** | **50.2%** | $25219.4 | 43.8% | 44.1% |
| ____________________ |  |  |  |  |  |  |

---

(1)Includes bonds, stocks, mortgage loans, cash, and other invested assets contractually restricted to use related to the Company's reinsurance

transactions.

(2)Due to the adoption of Statutory Ref. No. 2024-20, the restricted assets in connection with reinsurance transactions line was bifurcated into two

lines based on the type of reinsurance agreement.

(3)The funds withheld restricted assets, including those under modified coinsurance, include 0.68% of assets that were affiliated with reinsurers.

**Funding Agreements with Federal Home Loan Bank of Des Moines**

The Company is a member of the FHLB DM. Membership allows access to the FHLB DM's funding services, which provide an

alternative liquidity source, including the ability to obtain loans and issue funding agreements that are collateralized by qualifying

assets. The Company has issued funding agreements to the FHLB DM to support an institutional spread program, where the

Company earns income primarily from the difference between investment income earned and interest paid on the funding

agreements. Maximum borrowing capacity varies based on a percentage of total assets, subject to availability of eligible

collateral and internal authorization limits. Eligible collateral includes mortgage loans, agency CMBS-guaranteed, agency RMBS-

guaranteed, and U.S. government obligations.

The table below presents amounts related to FHLB DM:

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| Membership stock – Class B (1) ......................................................................................................... | **$10.0** | $10.0 |
| Activity stock .......................................................................................................................................... | **179.3** | 156.8 |
| Total ............................................................................................................................................................ | **$189.3** | $166.8 |
| Outstanding funding agreements (2) .................................................................................................... | **$3985.4** | $3485.6 |
| Collateral held at FHLB DM, at carrying value (3) .............................................................................. | **6813.8** | 6213.8 |
| Actual or estimated borrowing capacity as determined by the Company ....................................... | **5224.2** | 4578.9 |
| ____________________ |  |  |

---

(1)Class B membership stock is not eligible for redemption.

(2)The outstanding funding agreements as of December 31, 2025 and 2024 represent the total reserves established, which was recorded in liability

for deposit-type contracts on the balance sheets. The outstanding funding agreements as of December 31, 2025 and 2024 also represent the

maximum amount outstanding during the years ended December 31, 2025 and 2024, respectively. The Company does not have any prepayment

obligations related to the outstanding funding agreements.

(3)As of December 31, 2025 and 2024, the fair value of the Company's collateral held at FHLB DM was **$6,512.9** and $5,720.3, respectively. The

carrying value and fair value also represent the maximum amount pledged during the years ended December 31, 2025 and 2024, respectively.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**Low-Income Housing Tax Credits**

The Company held LIHTC investments of $151.3 and $158.7 as of December 31, 2025 and 2024, respectively. As of December

31, 2025, the Company had up to 13 remaining years of unexpired credits related to LIHTC investments. The Company's

remaining required holding period for these investments was between 1 and 17 years as of December 31, 2025.

The Company recognized LIHTC of $7.2, $3.3, and $4.1 during the years ended December 31, 2025, 2024, and 2023,

respectively. As of December 31, 2025, the Company had remaining commitments of $112.0 to its LIHTC investments. These

properties are not currently subject to any regulatory review.

**4. Mortgage Loans**

The Company's mortgage loan portfolio is secured by first-mortgage liens on income-producing commercial real estate, primarily

in the retail, industrial, and office building sectors. The Company's mortgage loan portfolio is considered a single portfolio

segment and class of financing receivables, which is consistent with how the Company assesses and monitors the risk and

performance of the portfolio. A large majority of these loans have personal guarantees, and all mortgaged properties are

inspected annually.

The Company's mortgage loan portfolio is diversified by geographic region, loan size, and scheduled maturity. As of December

31, 2025, the states with the largest concentration of the Company's mortgage loans were California and Texas, comprising

25.2% and 11.0%, respectively, of total outstanding principal.

The maximum and minimum lending rates for mortgage loans issued during 2025 were 9.3% and 5.5%, respectively. The

maximum and minimum lending rates for mortgage loans issued during 2024 were 9.1% and 5.0%, respectively. The maximum

and minimum lending rates for mortgage loans issued during 2023 were 8.8% and 4.3%, respectively.

Loans are underwritten based on loan-to-value (LTV) ratios and debt-service coverage ratios (DSCR), as well as detailed market,

property, and borrower analyses. The LTV and DSCR are used by the Company to determine the internal credit quality of

mortgage loans. The LTV ratio compares the carrying value of the loan to the fair value of the underlying collateral. The DSCR

compares a property's net operating income to its debt-service payments. Generally, a lower LTV ratio and higher DSCR indicate

a higher quality loan. The Company updates each loan's LTV ratio every quarter based on the carrying value of the property,

while property information (such as property value and income for DSCR) is updated annually, primarily during the third quarter.

The maximum LTV for any one loan was 83.0% and 76.9% for loans funded during the years ended December 31, 2025 and

2024, respectively. The weighted average LTV ratio for the Company's mortgage loan portfolio was 48.1% and 46.6% as of

December 31, 2025 and 2024, respectively.

The following table sets forth the Company's mortgage loans by credit quality indicator:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **DSCR**  | **DSCR**  | **DSCR**  | **DSCR**  | **DSCR**  | **DSCR**  |
| **LTV ratio** | **1.50x or** <br>**Greater**<br>| **Less Than** <br>**1.50x**<br>| **Total** | **1.50x or** <br>**Greater**<br>| **Less Than** <br>**1.50x**<br>| **Total** |
| Less than 65% ........................................... | **$7036.7** | **$1733.9** | **$8770.6** | $7255.4 | $785.3 | $8040.7 |
| Between 65% and 80% ............................ | **288.3** | **840.9** | **1129.2** | 299.6 | 487.4 | 787.0 |
| Greater than 80% ...................................... | **—** | **117.1** | **117.1** | 24.9 | 24.7 | 49.6 |
| Total commercial mortgage loans .............. | **$7325.0** | **$2691.9** | **10016.9** | $7579.9 | $1297.4 | $8877.3 |
| Other mortgage loans, net .......................... |  |  | **23.2** |  |  | 23.3 |
| Total ................................................................... |  |  | **$10040.1** |  |  | $8900.6 |

---

Non-performing loans, defined generally as those in default or close to being in default, are monitored for collectibility. Loans are

specifically evaluated for impairment if the Company considers it probable that amounts due according to the terms of the loan

agreement will not be collected or if the loan is modified in a troubled debt restructuring. If a mortgage loan has any investment

income due and accrued that is 180 days past due and collectible, or non-performing, the investment income will continue to

accrue, but all interest related to the loan will be reported as a nonadmitted asset. As of December 31, 2025, two loans with a

total unpaid principal balance of $12.3 were considered non-performing. As of December 31, 2024, one loan with an outstanding

principal balance of $2.1 was considered impaired and non-performing, for which the Company took possession of the real

estate collateral in the first quarter of 2025.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**5. Derivative Instruments**

The Company uses derivative financial instruments to hedge certain portions of its exposure to equity market risk, interest rate

risk, and foreign currency exchange risk. Derivative instruments may be exchange-traded or contracted in the over-the-counter

(OTC) market. The Company has established policies for managing its derivatives, including prohibitions on derivatives market-

making and other speculative derivatives activities.

**Derivative Exposures**

The following tables present the notional amounts, carrying amounts, and fair values of the Company's derivative assets and

liabilities. On the balance sheet, derivative contracts in a liability position are included in other liabilities.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | | **Carrying Amount** | **Carrying Amount** | **Fair Value** | **Fair Value** |
|  | <br>**Notional** | **Assets** | **Liabilities** | **Assets** | **Liabilities** |
| Derivatives designated as cash flow hedges: |  |  |  |  |  |
| Interest rate swaps ................................................................. | **$4789.9** | **$—** | **$—** | **$39.1** | **$64.8** |
| Cross currency swaps............................................................ | **882.6** | **18.2** | **36.1** | **21.1** | **17.1** |
| Treasury bond forwards ......................................................... | **227.8** | **—** |  | **—** | **29.2** |
| Treasury locks ......................................................................... | **42.0** | **—** |  | **—** | **4.1** |
| Derivatives not designated as hedges: |  |  |  |  |  |
| Index options ........................................................................... | **14119.1** | **410.3** | **8.8** | **751.7** | **9.3** |
| Interest rate caps and floors ................................................. | **605.2** | **—** | **—** | **—** | **—** |
| Free-standing interest rate swaps ....................................... | **131.1** | **1.1** | **—** | **1.1** | **—** |
| Futures ..................................................................................... | **36.2** | **7.6** | **0.3** | **7.6** | **0.3** |
| Foreign exchange forwards .................................................. | **34.4** | **—** | **0.2** | **—** | **0.2** |
| Total derivatives ......................................................................... | **$20868.3** | **$437.2** | **$45.4** | **$820.6** | **$125.0** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | | **Carrying Amount** | **Carrying Amount** | **Fair Value** | **Fair Value** |
|  | <br>**Notional** | **Assets** | **Liabilities** | **Assets** | **Liabilities** |
| Derivatives designated as cash flow hedges: |  |  |  |  |  |
| Interest rate swaps ................................................................. | $3756.5 | $— | $— | $4.9 | $135.4 |
| Cross currency swaps............................................................ | 861.6 | 61.3 | 2.3 | 64.6 | 0.3 |
| Treasury bond forwards ......................................................... | 341.9 |  |  |  | 40.2 |
| Treasury locks ......................................................................... | 85.5 |  |  |  | 8.0 |
| Derivatives not designated as hedges: |  |  |  |  |  |
| Index options ........................................................................... | 12985.2 | 331.9 | 4.8 | 559.4 | 6.8 |
| Interest rate caps and floors ................................................. | 1132.7 | 0.1 | 18.1 | 0.1 | 18.1 |
| Futures ..................................................................................... | 47.0 | 11.3 | 0.9 | 11.3 | 0.9 |
| Foreign exchange forwards ................................................... | 21.9 | 0.4 |  | 0.4 |  |
| Total derivatives ......................................................................... | $19232.3 | $405.0 | $26.1 | $640.7 | $209.7 |

---

***Interest Rate Swaps***

The Company uses interest rate swaps as part of its interest rate risk management strategy. In an interest rate swap transaction,

the Company agrees with other parties to exchange, at specified intervals, the difference between floating-rate and fixed-rate

interest amounts calculated by reference to an agreed upon notional principal amount. The Company primarily uses interest rate

swaps to synthetically convert variable rate bonds, including investments in collateralized loan obligations, to fixed-rate bonds.

These derivatives qualify and are designated as cash flow hedges.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

***Cross Currency Swaps***

The Company uses cross currency swaps as part of its foreign currency risk management strategy to reduce foreign exchange

rate risk with respect to the Company's investments denominated in foreign currencies. In a cross currency swap transaction, the

Company agrees with other parties to exchange, at specified intervals, one currency for another at a specified rate of exchange.

Generally, the notional amount of each currency is exchanged at the maturity of the currency swap by each party. Cross currency

swaps derivatives qualify and are designated as cash flow hedges.

***Treasury Bond Forwards and Treasury Locks***

The Company uses treasury bond forwards and treasury locks as part of its interest rate risk management strategy. In a bond

forward, the Company agrees to buy or sell a bond at a fixed price on the maturity date. In a treasury lock, the Company agrees

to make or receive a payment based upon the difference between the strike rate and current issuance rates. The Company

primarily uses treasury bond forwards and treasury locks to mitigate fluctuations in expected interest income. These derivatives

qualify and are designated as cash flow hedges.

***Equity Market Contracts – Indexed and Index-linked Products***

The Company uses index call options and futures as part of its equity market risk management strategy. The Company offers

indexed and index-linked products that permit the contract holder to allocate all or a portion of their account value to an indexed

component that credits interest based on the performance of an index, subject to caps, floors, or performance margins set by the

Company. The contract holders may elect to rebalance index options at renewal dates, typically annually. As of each renewal

date, the Company has the opportunity to re-price the indexed component by establishing revised cap rates or performance

margins, subject to contractual guarantees. The Company transacts in index call options and futures according to the portfolio

allocation decisions of the contract holders such that the Company is economically hedged with respect to equity returns for the

current interest term. These derivatives are not designated for hedge accounting.

***Interest Rate Caps and Floors***

The Company uses interest rate caps and floors as part of its interest rate risk management strategy pertaining to floating-rate

investments. The Company will generally take a long position using an interest rate floor to hedge against the risk of falling

reference rates, and may choose to partially or fully finance such floor by taking a short position using an interest rate cap. When

done in combination, the long floor and short cap combination is referred to as a collar. The collar provides protection against

reference rates falling below the floor's strike price, but also results in the Company forfeiting potential gains should the reference

rates rise above the cap's strike price. The Company does not designate these derivatives for hedge accounting.

**Collateral Arrangements**

The Company's derivative contracts are primarily non-centrally-cleared OTC instruments that are governed by an International

Swaps and Derivatives Association (ISDA) Master Agreement. For each Master Agreement, the Company and the counterparty

have also entered into a credit support annex (CSA) to reduce the risk of counterparty default in derivative transactions. The CSA

requires either party to post cash collateral or other financial assets in accordance with the net exposure from all derivative

contracts between the parties. The amount of net exposure is the difference between the derivative contract's fair value and the

fair value of the collateral held for the CSA with each counterparty. Collateral amounts required to be posted or received are

determined daily based on the net exposure with each counterparty under a master netting agreement.

The Company does not offset recognized collateral amounts pledged or received against the fair value amounts recognized for

derivative contracts on the balance sheets.

For non-centrally-cleared instruments, the Company is subject to uncleared margin rules, which under certain circumstances,

may require the Company to post or collect initial margin for bilateral OTC derivatives with one or more counterparties. As of

December 31, 2025 and 2024, the Company posted initial margin of $26.6 and $18.9, respectively, related to its non-centrally-

cleared derivatives. These amounts are not reflected in collateral presented in the tables below.

For certain centrally-cleared instruments, the Company is required to post initial margin, which is determined at contract

inception, as well as variation margin, which is based on the fair value of the derivative contracts and generally determined on a

daily basis. As of December 31, 2025 and 2024, the Company posted initial margin of $44.3 and $36.6, respectively, related to its

centrally-cleared derivatives. These amounts are not reflected in collateral presented in the tables below.

In the balance sheets, the Company recognizes cash collateral received in cash, cash equivalents, and short-term investments

and the obligation to return cash collateral as a liability. Non-cash collateral received is not recognized in the balance sheets. In

the event of default, the counterparty relinquishes claim to the assets pledged as collateral and the Company recognizes the

collateral as its own asset recorded at fair value, or, in the case of cash collateral, derecognizes its obligation to return collateral.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

The following table presents the potential effect of netting arrangements on the Company's balance sheets:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | | **Gross Amounts Not Offset on** <br>**the Balance Sheets** | **Gross Amounts Not Offset on** <br>**the Balance Sheets** | | | |
|  | <br>**Fair Value** | **Financial** <br>**Instruments** <br>**(1)**<br>| **Cash** <br>**Collateral** <br>**Received/**<br>**Pledged (2)**<br>| <br>**Net Amount** | <br>**Securities** <br>**Collateral** <br>**Received/**<br>**Pledged(3)**<br>| <br>**Net Amount** <br>**After** <br>**Securities** <br>**Collateral**<br>|
| **December 31, 2025** |  |  |  |  |  |  |
| Derivative assets .......................................... | **$820.6** | **$(103.6)** | **$(365.6)** | **$351.4** | **$(344.0)** | **$7.4** |
| Derivative liabilities ..................................... | **125.0** | **(103.6)** | **(21.4)** | **—** | **—** | **—** |
| **December 31, 2024** |  |  |  |  |  |  |
| Derivative assets .......................................... | $640.7 | $(165.2) | $(173.0) | $302.5 | $(277.1) | $25.4 |
| Derivative liabilities ...................................... | 209.7 | (165.2) | (7.9) | 36.6 | (34.8) | 1.8 |
| ____________________ |  |  |  |  |  |  |

---

(1)Represents amount of offsetting derivative liabilities that are subject to an enforceable master netting agreement or similar agreement that are

not netted against the gross derivative assets or liabilities for presentation on the balance sheet.

(2)The amount of cash collateral offset in the table above is limited to the net estimated fair value of derivatives after application of netting

agreement.

(3)Securities collateral received from counterparties is not reported on the balance sheets and may or may not be sold or re-pledged unless the

counterparty is in default. Amounts do not include excess of collateral pledged or received.

**6. Fair Value of Financial Instruments**

The Company determines the fair value of its financial instruments based on the fair value hierarchy, which favors the use of

observable inputs over the use of unobservable inputs when measuring fair value. The Company uses the same pricing

methodology and sources as utilized for obtaining GAAP fair values.

The Company has categorized its financial instruments into the three-level hierarchy, which 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). The

level assigned to a fair value measurement is based on the lowest-level input that is significant to the measurement. The fair

value measurements for the Company's financial instruments are categorized as follows:

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

• Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in

markets that are not active, model-derived valuations whose inputs are observable, and market corroborated inputs.

This category includes those financial instruments that are valued using industry-standard pricing methodologies or

models. All significant inputs are observable or derived from observable information in the marketplace.

• Level 3 – Fair value estimates whose significant inputs are unobservable. This includes financial instruments for which

fair value is estimated based on industry-standard pricing methodologies and internally developed models utilizing

significant inputs not based on or corroborated by readily available market information. In limited circumstances, this

may also utilize estimates based on non-binding broker quotes.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

The following tables present financial instruments carried at fair value:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets at fair value:** |  |  |  |  |
| Bonds.................................................................................................................... | **$—** | **$0.5** | **$—** | **$0.5** |
| Preferred stocks .................................................................................................. | **—** | **204.0** | **—** | **204.0** |
| Unaffiliated common stocks .............................................................................. | **516.3** | **—** | **189.3** | **705.6** |
| Other invested assets (1) .................................................................................. | **—** | **43.3** | **2.5** | **45.8** |
| Derivatives ........................................................................................................... | **7.6** | **135.1** | **24.0** | **166.7** |
| Separate account assets (2) ............................................................................. | **1080.9** | **1293.6** | **0.4** | **2374.9** |
| Total assets at fair value ....................................................................................... | **$1604.8** | **$1676.5** | **$216.2** | **$3497.5** |
| **Liabilities at fair value:** |  |  |  |  |
| Derivatives ........................................................................................................... | **$0.3** | **$5.2** | **$0.9** | **$6.4** |
| Separate account liabilities ............................................................................... | **—** | **171.9** | **—** | **171.9** |
| Total liabilities at fair value ................................................................................... | **$0.3** | **$177.1** | **$0.9** | **$178.3** |
| ____________________ |  |  |  |  |

---

(1)Does not include amounts related to partnership investments (primarily private debt, private equity, and hedge funds investments) that are

measured using the NAV practical expedient. The fair value of these investments was **$590.0** as of December 31, 2025. These investments have

varying investment strategies, and redemption terms and conditions.

(2)Does not include amounts related to invested assets that are measured using the NAV as a practical expedient. The fair value of these

investments was **$51.1** as of December 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets at fair value: (1)** |  |  |  |  |
| Bonds.................................................................................................................... | $— | $4.4 | $— | $4.4 |
| Preferred stocks .................................................................................................. |  | 53.2 |  | 53.2 |
| Unaffiliated common stocks .............................................................................. | 374.2 |  | 166.8 | 541.0 |
| Derivatives ........................................................................................................... | 11.3 | 101.5 | 10.9 | 123.7 |
| Separate account assets (2) ............................................................................. | 1121.7 | 771.7 | 5.5 | 1898.9 |
| Total assets at fair value ....................................................................................... | $1507.2 | $930.8 | $183.2 | $2621.2 |
| **Liabilities at fair value:** |  |  |  |  |
| Derivatives ........................................................................................................... | $0.9 | $18.3 | $0.7 | $19.9 |
| Separate account liabilities ............................................................................... |  | 113.2 | 0.2 | 113.4 |
| Total liabilities at fair value ................................................................................... | $0.9 | $131.5 | $0.9 | $133.3 |
| ____________________ |  |  |  |  |

---

(1)Does not include amounts related to partnership investments (primarily private debt, private equity, and hedge funds investments) that are

measured using the NAV practical expedient. The fair value of these investments was $520.4 as of December 31, 2024. These investments have

varying investment strategies, and redemption terms and conditions.

(2)Does not include amounts related to alternative investments that are measured using the NAV practical expedient. The fair value of these

investments was $16.7 as of December 31, 2024. These investments have varying investment strategies, and redemption terms and conditions.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

The following tables present the book/adjusted carrying values and corresponding fair values of financial instruments subject to

fair value disclosure requirements, categorized by the fair value hierarchy described above:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | **Carrying** <br>**Values**<br>| **Fair Value** | **Level 1** | **Level 2** | **Level 3** |
| *Financial assets:* |  |  |  |  |  |
| Bonds ........................................................................................ | **$37829.0** | **$37168.4** | **$184.1** | **$36387.8** | **$596.4** |
| Preferred stocks ...................................................................... | **216.2** | **216.2** | **—** | **216.2** | **—** |
| Unaffiliated common stocks .................................................. | **705.6** | **705.6** | **516.3** | **—** | **189.3** |
| Mortgage loans ....................................................................... | **10040.1** | **9807.5** | **—** | **—** | **9807.5** |
| Other invested assets (1) ...................................................... | **231.5** | **155.3** | **—** | **89.5** | **65.8** |
| Cash, cash equivalents, and short-term investments ....... | **2423.6** | **2423.7** | **1788.8** | **634.9** | **—** |
| Derivatives ............................................................................... | **437.2** | **820.6** | **7.6** | **745.6** | **67.4** |
| Separate account assets (2) ................................................. | **11002.2** | **10423.1** | **1263.1** | **8129.2** | **1030.8** |
| *Financial liabilities:* |  |  |  |  |  |
| Derivatives ............................................................................... | **45.4** | **125.0** | **0.3** | **123.6** | **1.1** |
| Separate account liabilities ................................................... | **169.8** | **171.9** | **—** | **171.9** | **—** |
| Deposit-type contracts ........................................................... | **4957.3** | **4955.1** | **—** | **—** | **4955.1** |
| ____________________ |  |  |  |  |  |

---

(1)Does not include amounts related to partnership investments (primarily private debt, private equity, and hedge funds investments) that are

measured using the NAV practical expedient. The fair value of these investments was **$613.9** as of December 31, 2025. These investments have

varying investment strategies, and redemption terms and conditions.

(2)Does not include amounts related to invested assets that are measured using the NAV as a practical expedient. The fair value of these

investments was $53.1 as of December 31, 2025.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **Carrying** <br>**Values**<br>| **Fair Value** | **Level 1** | **Level 2** | **Level 3** |
| *Financial assets:* |  |  |  |  |  |
| Bonds ........................................................................................ | $33803.1 | $32555.0 | $168.3 | $31599.5 | $787.2 |
| Preferred stocks ...................................................................... | 110.7 | 105.1 |  | 105.1 |  |
| Unaffiliated common stocks .................................................. | 541.0 | 541.0 | 374.2 |  | 166.8 |
| Mortgage loans ....................................................................... | 8900.6 | 8392.9 |  |  | 8392.9 |
| Other invested assets (1) ...................................................... | 190.6 | 92.1 |  | 26.4 | 65.7 |
| Cash, cash equivalents, and short-term investments ....... | 1641.6 | 1641.7 | 1387.8 | 253.9 |  |
| Derivatives ............................................................................... | 405.0 | 640.7 | 11.3 | 589.4 | 40.0 |
| Separate account assets (2) ................................................. | 9602.1 | 8789.4 | 1236.2 | 6733.4 | 819.8 |
| *Financial liabilities:* |  |  |  |  |  |
| Derivatives ............................................................................... | 26.1 | 209.7 | 0.9 | 207.8 | 1.0 |
| Separate account liabilities ................................................... | 106.7 | 113.4 |  | 113.2 | 0.2 |
| Deposit-type contracts ........................................................... | 4550.0 | 4638.4 |  |  | 4638.4 |
| ____________________ |  |  |  |  |  |

---

(1)Does not include amounts related to partnership investments (primarily private debt, private equity, and hedge funds investments) that are

measured using the NAV practical expedient. The fair value of these investments was $520.4 as of December 31, 2024. These investments have

varying investment strategies, and redemption terms and conditions.

(2)Does not include amounts related to invested assets that are measured using the NAV as a practical expedient. The fair value of these

investments was $16.7 as of December 31, 2024.

**Financial Instruments Measured at Fair Value on a Recurring Basis**

***Unaffiliated Common Stocks***

The Company's unaffiliated common stocks primarily include FHLB DM common stock and publicly traded common stocks. The

FHLB DM common stock has no readily available market information to support pricing. The value is based on redeemable par

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

value and is therefore classified as a Level 3 measurement. The publicly traded common stocks are based on quoted market

prices in active markets for identical assets and are classified as a Level 1 measurement.

***Derivatives***

A majority of the derivatives are index options that consist primarily of Standard & Poor's 500 Index® (S&P 500) options. The fair

values of these index options were determined using option pricing models. Significant inputs include index implied volatilities,

index dividend yields, index prices, a risk-free rate, option term, and strike price. As these inputs are observable, most index

options are classified as a Level 2 measurement. Options without public and observable inputs are classified as a Level 3

measurement.

***Separate Account Assets and Liabilities***

Separate account assets related to the Company's variable products are primarily invested in mutual funds with published NAVs

and are classified as a Level 1 measurement. Separate account assets and liabilities related to the Company's RILA products

include investments in stocks and derivatives, which are valued using the same methodologies described above.

**Other Financial Instruments Subject to Fair Value Disclosure Requirements**

***Bonds***

Bonds are primarily classified as Level 2 measurements. To make this assessment, the Company determines whether the

market for a security is active and if significant pricing inputs are observable. The Company predominately utilizes third-party

independent pricing services that use evaluated pricing models to assist management in determining the fair value of its bonds.

As many of these bonds do not trade on a daily basis, evaluated pricing models apply available information through processes

such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing to prepare valuations. The

significant inputs for these bond valuations include benchmark U.S. Treasury or other yields, spread off the U.S. Treasury yield

curve for identical securities, reported trades, broker-dealer quotes, comparable securities that are actively traded, issuer

spreads, two-sided markets, benchmark securities, bids, offers, and other reference data, including market research

publications. In addition, for mortgage- and asset-backed securities, the pricing services use models and processes to develop

prepayment and interest rate scenarios. The pricing services monitor market indicators, industry and economic events, and their

models take into account market convention.

In situations where the Company is unable to obtain sufficient market-observable information upon which to estimate the fair

value of a particular security, fair values are determined using internal pricing models that typically utilize significant,

unobservable market inputs or inputs that are difficult to corroborate with observable market data. Such measurements are

classified as Level 3 and typically include private placements and other securities that pricing services are unable to price.

***Preferred Stocks***

The fair values of preferred stocks are valued by pricing services utilizing evaluated pricing models. These valuations are created

based on benchmark curves using industry standard inputs and exchange prices of underlying securities of the same issuer. As

these inputs are considered observable, preferred stocks are classified as a Level 2 measurement.

***Mortgage Loans***

The fair values of the Company's mortgage loans are determined by discounting the projected future cash flows using a discount

rate equal to the risk-free rate plus a valuation spread. The valuation spread is an unobservable input that includes

management's assumptions of the impact of credit risks. Significant increases or decreases in this spread results in significant

changes in fair value; therefore, mortgage loans are classified as a Level 3 measurement.

***Other Invested Assets***

Other invested assets consist primarily of limited partnership investments, including private debt, private equity, hedge fund

investments, as well as tax credit investments, residual tranches, and capital and surplus notes.

The majority of the LP investments and residual tranches are not traded in an active market and qualify to be measured using

NAV as a practical expedient. Certain LP investments and residual tranches are priced by independent pricing services utilizing

evaluated pricing models and are classified as a Level 2 measurement. Evaluated pricing models apply available information

through processes such as benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing to prepare

valuations. The significant observable inputs for security evaluations include benchmark yields, reported trades, executable

broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, new issues, prepayment speeds,

and other reference data, including market research publications. Remaining residual tranches utilize significant unobservable

inputs, and are therefore classified as a Level 3 measurement.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

Tax credit investments are limited partnerships established to fund affordable housing projects and other qualifying purposes,

where the primary return on investment is in the form of income tax credits. The fair value of the tax credit interests is estimated

based on the discounted future economic benefits over the remaining life of each investment, using a market rate of return based

on similar investments observed by brokers. The future economic benefits are based on assumptions about the partnerships'

future performance and related tax benefits passed through to the Company, net of the Company's obligations to make future

investment contributions. Because these estimates utilize significant unobservable inputs, investments in tax credit LPs are

classified as a Level 3 measurement.

***Cash, Cash Equivalents, and Short-Term Investments***

Cash and cash equivalents consist of demand bank deposits and short-term highly liquid investments with original maturities of

three months or less at the time of purchase. Because cash equivalents are readily convertible to known amounts of cash,

carrying value generally approximates fair value and are primarily classified as Level 1. Short-term investments consist of

investments with an original maturity date of less than one year at the time of purchase. The majority of these investments are

bonds which are classified as a Level 2 measurement.

***Derivatives***

Cross currency swaps and interest rate swaps are valued using an income approach. These swaps are priced using a

discounted cash flow model. The significant inputs for cross currency swaps include the projected cash flows, currency spot

rates, swap yield curve, and cross currency basis curve. As these inputs are observable, the cross currency swaps valuation is

classified as a Level 2 measurement. The significant inputs for interest rate swaps include the projected cash flows, timing of

payments, the discount rate, and the forward rate. As these inputs are observable, the interest rate swaps valuation is classified

as a Level 2 measurement.

***Separate Account Assets and Liabilities***

Separate account assets related to the Company's fixed BOLI and RILA products primarily consist of bonds, commercial

mortgage loans, derivatives, and cash that are valued using the same methodologies described above.

***Deposit-type Contracts***

Deposit-type contracts consist of FHLB DM funding agreements and certain annuities with payout provisions which do not

include life contingencies within the scope of SSAP 100, *Fair Value*. The fair values for these investments are generally derived

from the present value of liability cash flows. The significant inputs include the projected liability cash flows from actuarial cash

flow testing models and discount rates that are representative of the Company's financial strength ratings. As these inputs are

unobservable, they are classified as Level 3 investments.

**Rollforward of Assets and Liabilities Measured and Reported as Level 3**

The following table presents additional information about assets, excluding separate accounts, measured and reported at

fair value and for which significant unobservable inputs (Level 3) were utilized to determine fair value:

---

| | | |
|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** |
| Balance, beginning of period .................................................................................................................. | **$177.7** | $159.0 |
| Total gains (losses) included in net income ...................................................................................... | **(16.7)** | (9.2) |
| Total gains (losses) included in surplus ............................................................................................. | **5.5** | (4.5) |
| Purchases ............................................................................................................................................... | **51.7** | 90.4 |
| Sales ........................................................................................................................................................ | **—** | (49.4) |
| Settlements ............................................................................................................................................ | **(4.9)** | (8.6) |
| Balance, end of period ............................................................................................................................ | **$213.3** | $177.7 |

---

**7. Reinsurance**

**Ceded Reinsurance Agreements**

The Company remains liable to its policyholders to the extent that counterparties to reinsurance contracts do not meet their

obligations. In the event of the reinsurer's insolvency, the Company would reclaim the withheld assets supporting the reserve

liabilities. Reserve credit taken for all ceded reinsurance, including affiliated and unaffiliated, was $3,001.0 and $2,540.3 as of

December 31, 2025 and 2024, respectively. The Company's ceded reinsurance agreements are described below.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

***Medical Stop-Loss***

For business written or renewed after October 1, 2024, the Company cedes the excess of $4.0 per individual per policy period.

For business written or renewed between October 1, 2022 and October 1, 2024, the Company reinsured the excess of $3.25 per

individual claim.

The Company has an 80% coinsurance with funds withheld arrangement to manage its risk-based capital position by ceding a

majority of its medical stop-loss block of business, as well as new policies issued subsequent to January 1, 2019.

Starting in 2025, the Company cedes the morbidity risk on certain specific and aggregate medical stop-loss policies issued or

renewed on or after January 1, 2025, up to $0.5 per individual over employer's retention. The Company has a funds withheld

reinsurance agreement with a third-party reinsurer.

***Group Life & DI***

Starting in 2019, the Company primarily cedes group life mortality risk in excess of $0.40 per individual and line of coverage. The

Company reinsures morbidity risk in excess of $8.0 thousand of gross monthly benefit per life. The Company also has

catastrophic coverage for group life policies.

***DA and FIA***

The Company has a 100% coinsurance with funds withheld arrangement to cede the guaranteed lifetime withdrawal benefits

(GLWB) riders on a block of FIA policies issued from January 1, 2021 through December 31, 2023.

The Company has a coinsurance with funds withheld arrangement to provide relief from U.S. statutory reserving strain under the

commissioner's annuity reserve method (CARVM) for certain DA policies that were issued beginning January 1, 2024 to

December 31, 2026. This agreement cedes a quota share of each base policy's coverage benefits and the guaranteed minimum

surrender value on an individual basis.

The Company has a reinsurance agreement to cede an 80% quota share of certain DA, FIA, and FIA with GLWB policies,

including certain deposit-type liabilities. See Symetra Bermuda Re Ltd. Reinsurance Transactions discussion below.

The Company had a reinsurance agreement to manage its statutory capital position by ceding fixed deferred and fixed indexed

annuities that have a guaranteed return of premium feature and were issued beginning in 2017. The Company recaptured the

treaty as of October 1, 2023.

***Income Annuities and Structured Settlements***

The Company has a 100% modified coinsurance agreement (Income Annuities Inforce Reinsurance Transaction), which was

effective as of July 1, 2018, to cede the Company's in-force block of income annuities issued prior to October 1, 2017, which

included all of the Company's structured settlement annuities, and a smaller amount of retail SPIA. Under the terms of the

agreement, future economic impacts of the reinsured business were transferred to the reinsurer, including interest rate risk,

mortality risk, and credit risk on invested assets. As of December 31, 2025 and 2024, the related reserves were $4.3 billion and

$4.5 billion, respectively. The Company continues to service the reinsured business and hold the associated invested assets and

policyholder liabilities on its balance sheets. The reinsurer is responsible for the management of invested assets, subject to

investment management guidelines.

Associated with the Income Annuities Inforce Reinsurance Transaction, a portion of the ceding commission was recorded as an

adjustment to liability for deposit-type contracts on the Company's balance sheets and is amortized over the life of the contracts

into benefits expense. The withheld assets supporting the net statutory reserves of the reinsured business are reported as

investments on the balance sheets and are legally owned by the Company.

The Company has the ability to offset amounts due to the reinsurer with amounts owed from the reinsurer, as well as access to

amounts held in trust, which reduces the risk of loss.

***Term and Universal Life***

The Company's ceded reinsurance coverage varies by product, policy issue year, and issue age of the insured. For fully

underwritten policies issued subsequent to April 2017, the Company retains up to a maximum of $5.0 per life. For fully

underwritten policies issued between March 2013 and April 2017, the Company retains up to a maximum of $3.0 per life.

The Company has a 100% coinsurance with funds withheld reinsurance arrangement to manage its statutory capital position by

ceding a block of term life insurance policies subject to principle-based reserving method issued subsequent to January 1, 2020

and a block of term life insurance policies subject to Regulation XXX issued prior to 2020. In 2025 and 2024, this agreement was

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

amended to change the target funds withheld percentages to economic reserve levels for certain term products, which resulted in

additional financing at the amendment effective date.

The Company has a 30% coinsurance with funds withheld and a 70% yearly renewable term reinsurance arrangement to

manage its statutory capital position by ceding a block of UL policies with secondary guarantees largely issued between January

2015 and December 2019.

The Company has a 100% coinsurance with funds withheld arrangement with a third-party reinsurer to manage its statutory

capital position by ceding survivorship guaranteed universal life policies.

***Intercompany Reinsurance Agreements***

*Symetra Bermuda Re Ltd. Reinsurance Transactions*

The Company has an 80% modified coinsurance agreement (Deferred Annuity New Business Reinsurance Transaction) with

SBR, an affiliated Bermuda reinsurer wholly-owned by the Parent, to cede certain FIA and DA policies beginning January 1,

2022. In 2024, the Company amended the agreement to expand the ceding scope to include FIA policies with GLWB beginning

January 1, 2024, and to permit reserve credit reinsurance arrangements.

In December 2025, the Company executed an amended and restated agreement with SBR which further allowed the Company

to cede certain deposit-type liabilities.

On a quarterly basis, the Company pays premiums, net of surrenders and a ceding and expense allowance, to the reinsurer. The

ceded premiums are recorded as premiums and annuity considerations, and the ceding and expense allowance received is

recorded as commission and expense allowance on reinsurance ceded on the statements of operations. The withheld assets

supporting the net statutory reserves of the reinsured business are reported as investments on the balance sheets and are

legally owned by the Company. The associated invested assets and policyholder liabilities are held on the Company's balance

sheets. As of December 31, 2025 and 2024, the amounts due to SBR for quarterly reinsurance settlements were $16.1 and

$104.6, respectively.

The following table presents significant reinsurance activities between the Company and SBR:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Ceded premiums (1) ......................................................................................................................... | **$5353.1** | $5116.3 | $4767.2 |
| Ceded surrenders .............................................................................................................................. | **(652.3)** | (339.0) | (167.7) |
| Ceding and expense allowance ...................................................................................................... | **(345.7)** | (346.4) | (304.6) |
| ____________________ |  |  |  |

---

(1)Includes premiums related to internal exchanges.

As of December 31, 2025 and 2024, total ceded reserves to SBR were $20.1 billion and $13.3 billion, respectively.

In the event of the reinsurer's insolvency, the Company would reclaim the withheld assets supporting the reserve liabilities. The

Company has the ability to offset amounts due to the reinsurer with amounts owed from the reinsurer.

*Other Intercompany Agreements*

The Company has an excess loss reinsurance agreement with its subsidiary, Symetra National Life Insurance Company, to

manage its statutory capital position by ceding survivorship guaranteed universal life policies.

The Company has a 100% coinsurance with funds withheld reinsurance agreement with its subsidiary, Symetra Reinsurance

Corporation. The Company ceded all net policy liabilities related to a block of universal life insurance policies with secondary

guarantees issued on or before December 31, 2014. The balance of funds withheld was $248.1 and $236.5 as of December 31,

2025 and 2024, respectively.

**Assumed Reinsurance Agreement**

In conjunction with the Dearborn Acquisition on October 1, 2025, the Company executed a 100% coinsurance reinsurance

transaction to assume Dearborn's group life, DI, and Trad and Term insurance in-force blocks.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**Reinsurance Recoverables**

The Company evaluates the financial condition of its reinsurers to monitor its exposure to losses from reinsurers' insolvencies.

The Company analyzes reinsurance recoverables, net of assets held in trust and funds withheld required by the related

reinsurance agreements, according to the credit ratings and financial health of its reinsurers and is not aware of any of its major

reinsurers currently experiencing financial difficulties.

Excluding the Income Annuities Inforce Reinsurance Transaction and Symetra Bermuda Re Ltd. Reinsurance Transactions

discussed above, as of December 31, 2025, $1,616.4 of net reinsurance recoverables was related to four reinsurers,

representing 95.0% of the total amount due from reinsurers. As of December 31, 2024, $1,226.7 of net reinsurance recoverables

was related to four reinsurers, representing 93.6% of the total amount due from reinsurers. Of the total amounts due from

reinsurers, 99.5% and 99.3%, was with reinsurers rated A- or higher by A.M. Best or S&P as of December 31, 2025 and 2024,

respectively. The Company had no write-offs or reserves for uncollectible reinsurance in 2025 or 2024.

**Premiums and Annuity Considerations**

The following table sets forth the effect of reinsurance on premiums and annuity considerations. It is disaggregated by accident

and health, and life insurance and annuity products.

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Direct life insurance in-force ............................................................................................................ | **$281072.0** | $222946.1 | $183201.0 |
| Direct: |  |  |  |
| Accident and health ........................................................................................................................ | **1768.6** | 1390.9 | 1356.7 |
| Life insurance .................................................................................................................................. | **1260.1** | 1147.8 | 990.7 |
| Annuity .............................................................................................................................................. | **7925.1** | 7648.9 | 6849.3 |
| Total direct premiums ........................................................................................................................ | **10953.8** | 10187.6 | 9196.7 |
| Assumed: |  |  |  |
| Accident and health ......................................................................................................................... | **68.0** |  |  |
| Life insurance ................................................................................................................................... | **91.3** |  |  |
| Total assumed premiums ................................................................................................................. | **159.3** |  |  |
| Ceded: |  |  |  |
| Accident and health ........................................................................................................................ | **(1085.6)** | (795.9) | (824.8) |
| Life insurance .................................................................................................................................. | **(186.4)** | (197.1) | (146.4) |
| Annuity .............................................................................................................................................. | **(5439.0)** | (5269.6) | (4697.1) |
| Total ceded premiums ....................................................................................................................... | **(6711.0)** | (6262.6) | (5668.3) |
| Net premiums and annuity considerations .................................................................................... | **$4402.1** | $3925.0 | $3528.4 |
| Percentage of amount assumed to net .......................................................................................... | **3.6%** | —% | —% |

---

Ceded reinsurance reduced the Company's claims reported on the statements of operations by $1,051.5, $814.7, and $816.2 for

the years ended December 31, 2025, 2024, and 2023, respectively.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**8. Life and Annuity Reserves**

**Annuity Reserves and Deposit-type Liabilities**

The following tables present the Company's annuity reserves and deposit-type liabilities by withdrawal characteristics, including

those held in separate account liabilities:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
| **Individual Annuities** | **General** <br>**Account**<br>| **Separate** <br>**Account**<br>**NonGuaranteed**<br>| **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| With fair value adjustment .......................................................................... | **$16939.8** | **$—** | **$16939.8** | **41.0%** |
| At book value less surrender charge of 5% or more (1) ........................ | **11958.7** | **4311.3** | **16270.0** | **39.4** |
| At fair value ................................................................................................... | **—** | **313.6** | **313.6** | **0.7** |
| Total with adjustment or at fair value ........................................................... | **28898.5** | **4624.9** | **33523.4** | **81.1** |
| At book value without adjustment (minimal or no charge or <br>adjustment) ......................................................................................................<br>| **4857.4** | **276.0** | **5133.4** | **12.4** |
| Not subject to discretionary withdrawal ....................................................... | **2662.0** | **—** | **2662.0** | **6.5** |
| Total gross individual annuity actuarial reserves ......................................... | **36417.9** | **4900.9** | **41318.8** | **100.0%** |
| Less: reinsurance ceded ............................................................................... | **710.2** | **—** | **710.2** |  |
| Total net individual annuity actuarial reserves ............................................. | **$35707.7** | **$4900.9** | **$40608.6** |  |
| ____________________ |  |  |  |  |

---

(1)Includes **$2,641.1** general account and **$466.4** non-guaranteed separate account that will have less than 5% surrender charge and thus be

reported with the amounts at book value with minimal or no charge or adjustment for the first time within the year subsequent to December 31,

2025. ---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
| **Group Annuities** | **General** <br>**Account**<br>| **Separate** <br>**Account**<br>**NonGuaranteed**<br>| **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| With fair value adjustment .......................................................................... | **$46.2** | **$—** | **$46.2** | **8.2%** |
| At fair value ................................................................................................... | **—** | **140.2** | **140.2** | **25.0** |
| Total with adjustment or at fair value ........................................................... | **46.2** | **140.2** | **186.4** | **33.2** |
| At book value without adjustment (minimal or no charge or <br>adjustment) ......................................................................................................<br>| **374.8** | **—** | **374.8** | **66.7** |
| Not subject to discretionary withdrawal ....................................................... | **0.6** | **—** | **0.6** | **0.1** |
| Total group annuity actuarial reserves .......................................................... | **$421.6** | **$140.2** | **$561.8** | **100.0%** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
| **Deposit-type Contracts** | **General** <br>**Account**<br>| **Separate** <br>**Account**<br>**NonGuaranteed**<br>| **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| With fair value adjustment .......................................................................... | **$407.1** | **$—** | **$407.1** | **8.0%** |
| At fair value ................................................................................................... | **—** | **0.2** | **0.2** | **—** |
| Total with adjustment or at fair value ........................................................... | **407.1** | **0.2** | **407.3** | **8.0** |
| At book value without adjustment (minimal or no charge or <br>adjustment) ......................................................................................................<br>| **79.3** | **—** | **79.3** | **1.6** |
| Not subject to discretionary withdrawal ....................................................... | **4581.4** | **—** | **4581.4** | **90.4** |
| Total gross deposit-fund liabilities ................................................................... | **5067.8** | **0.2** | **5068.0** | **100.0%** |
| Less: reinsurance ceded ............................................................................... | **32.9** | **—** | **32.9** |  |
| Total net deposit-fund liabilities ....................................................................... | **$5034.9** | **$0.2** | **$5035.1** |  |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
| **Individual Annuities** | **General** <br>**Account**<br>| **Separate** <br>**Account**<br>**NonGuaranteed**<br>| **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| With fair value adjustment .......................................................................... | $14012.4 | $— | $14012.4 | 39.1% |
| At book value less surrender charge of 5% or more (1) ........................ | 10189.5 | 3036.6 | 13226.1 | 36.9 |
| At fair value ................................................................................................... |  | 303.8 | 303.8 | 0.8 |
| Total with adjustment or at fair value ........................................................... | 24201.9 | 3340.4 | 27542.3 | 76.8 |
| At book value without adjustment (minimal or no charge or <br>adjustment) ......................................................................................................<br>| 5568.5 | 122.6 | 5691.1 | 15.9 |
| Not subject to discretionary withdrawal ....................................................... | 2612.6 |  | 2612.6 | 7.3 |
| Total gross individual annuity actuarial reserves ......................................... | 32383.0 | 3463.0 | 35846.0 | 100.0% |
| Less: reinsurance ceded ............................................................................... | 431.1 |  | 431.1 |  |
| Total net individual annuity actuarial reserves ............................................. | $31951.9 | $3463.0 | $35414.9 |  |
| ____________________ |  |  |  |  |

---

(1)Includes $1,316.5 general account and $195.1 non-guaranteed separate account that will have less than 5% surrender charge and thus be

reported with the amounts at book value with minimal or no charge or adjustment for the first time within the year subsequent to December 31,

2024. ---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
| **Group Annuities** | **General** <br>**Account**<br>| **Separate** <br>**Account**<br>**NonGuaranteed**<br>| **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| With fair value adjustment ......................................................................... | $51.8 | $— | $51.8 | 8.6% |
| At fair value .................................................................................................. |  | 151.5 | 151.5 | 25.0 |
| Total with adjustment or at fair value .......................................................... | 51.8 | 151.5 | 203.3 | 33.6 |
| At book value without adjustment (minimal or no charge or <br>adjustment) .....................................................................................................<br>| 401.9 |  | 401.9 | 66.3 |
| Not subject to discretionary withdrawal ..................................................... | 0.6 |  | 0.6 | 0.1 |
| Total group annuity actuarial reserves ......................................................... | 454.3 | 151.5 | 605.8 | 100.0% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
| **Deposit-type Contracts** | **General** <br>**Account**<br>| **Separate** <br>**Account**<br>**NonGuaranteed**<br>| **Total** | **% of Total** |
| Subject to discretionary withdrawal: |  |  |  |  |
| With fair value adjustment ......................................................................... | $452.0 | $— | $452.0 | 9.7% |
| At fair value .................................................................................................. |  | 0.2 | 0.2 |  |
| Total with adjustment or at fair value .......................................................... | 452.0 | 0.2 | 452.2 | 9.7 |
| At book value without adjustment (minimal or no charge or <br>adjustment) .....................................................................................................<br>| 36.4 |  | 36.4 | 0.8 |
| Not subject to discretionary withdrawal ..................................................... | 4153.5 |  | 4153.5 | 89.5 |
| Total gross deposit-fund liabilities .................................................................. | 4641.9 | 0.2 | 4642.1 | 100.0% |
| Less: reinsurance ceded .............................................................................. | 39.0 |  | 39.0 |  |
| Total net deposit-fund liabilities ...................................................................... | $4602.9 | $0.2 | $4603.1 |  |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

Total annuity actuarial reserves and deposit-type liabilities were as follows:

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| Annuity reserves .................................................................................................................................................... | **$36129.4** | $32406.2 |
| Liability for deposit-type contracts ...................................................................................................................... | **5034.9** | 4602.9 |
| Separate account – annuity reserves and liability for deposit-type contracts ............................................. | **5041.3** | 3614.7 |
| Total net annuity actuarial reserves and liability for deposit-type contracts .................................................... | **$46205.6** | $40623.8 |

---

**Life Reserves**

The following tables present the Company's life reserves by withdrawal characteristics, including those held in separate account

liabilities:

---

| | | | |
|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | **General Account** | **General Account** | **General Account** |
|  | **Account** <br>**Value**<br>| **Cash Value** | **Reserve** |
| Subject to discretionary withdrawal, surrender values, or policy loans: |  |  |  |
| Term policies with cash value .............................................................................................................. | **$—** | **$3.4** | **$8.3** |
| Universal life .......................................................................................................................................... | **1080.2** | **1080.6** | **1203.4** |
| Universal life with secondary guarantees .......................................................................................... | **1169.1** | **1035.1** | **3062.6** |
| Indexed universal life with secondary guarantees ........................................................................... | **2294.9** | **1723.4** | **1813.9** |
| Other permanent cash value life insurance ....................................................................................... | **—** | **107.4** | **109.6** |
| Variable universal life ........................................................................................................................... | **51.9** | **51.9** | **55.4** |
| Miscellaneous reserves ........................................................................................................................ | **—** | **1.1** | **1.2** |
| Not subject to discretionary withdrawal or no cash value: |  |  |  |
| Term policies without cash value ........................................................................................................ | **XXX** | **XXX** | **517.4** |
| Accidental death benefits ..................................................................................................................... | **XXX** | **XXX** | **0.3** |
| Disability – active lives .......................................................................................................................... | **XXX** | **XXX** | **0.6** |
| Disability – disabled lives ..................................................................................................................... | **XXX** | **XXX** | **95.0** |
| Miscellaneous reserves ........................................................................................................................ | **XXX** | **XXX** | **216.9** |
| Total gross life insurance reserves ........................................................................................................... | **4596.1** | **4002.9** | **7084.6** |
| Less: reinsurance ceded ......................................................................................................................... | **—** | **—** | **2264.2** |
| Total net life insurance reserves ............................................................................................................... | **$4596.1** | **$4002.9** | **$4820.4** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** |
|  | **Separate Account with Guarantees** | **Separate Account with Guarantees** | **Separate Account with Guarantees** | **Separate Account NonGuaranteed** | **Separate Account NonGuaranteed** | **Separate Account NonGuaranteed** |
|  | **Account** <br>**Value**<br>| **Cash Value** | **Reserve** | **Account** <br>**Value**<br>| **Cash Value** | **Reserve** |
| Subject to discretionary withdrawal, surrender <br>values, or policy loans:<br>|  |  |  |  |  |  |
| Universal life ................................................................ | **$5020.7** | **$5020.7** | **$5020.7** | **$—** | **$—** | **$—** |
| Variable universal life ................................................. | **—** | **—** | **—** | **627.2** | **616.4** | **616.4** |
| Total life insurance reserves ............................................ | **$5020.7** | **$5020.7** | **$5020.7** | **$627.2** | **$616.4** | **$616.4** |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

---

| | | | |
|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **General Account** | **General Account** | **General Account** |
|  | **Account** <br>**Value**<br>| **Cash Value** | **Reserve** |
| Subject to discretionary withdrawal, surrender values, or policy loans: |  |  |  |
| Term policies with cash value .............................................................................................................. | $— | $2.9 | $8.0 |
| Universal life ........................................................................................................................................... | 1093.2 | 1093.8 | 1214.0 |
| Universal life with secondary guarantees .......................................................................................... | 1169.9 | 969.6 | 2783.3 |
| Indexed universal life with secondary guarantees ............................................................................ | 1809.0 | 1332.8 | 1408.7 |
| Other permanent cash value life insurance ....................................................................................... |  | 46.1 | 48.3 |
| Variable universal life ............................................................................................................................ | 56.0 | 56.0 | 60.6 |
| Miscellaneous reserves ........................................................................................................................ |  | 1.8 | 1.8 |
| Not subject to discretionary withdrawal or no cash value: |  |  |  |
| Term policies without cash value ......................................................................................................... | XXX | XXX | 466.0 |
| Accidental death benefits ..................................................................................................................... | XXX | XXX | 0.2 |
| Disability – active lives .......................................................................................................................... | XXX | XXX | 0.7 |
| Disability – disabled lives ...................................................................................................................... | XXX | XXX | 47.5 |
| Miscellaneous reserves ........................................................................................................................ | XXX | XXX | 213.9 |
| Total gross life insurance reserves ........................................................................................................... | 4128.1 | 3503.0 | 6253.0 |
| Less: reinsurance ceded ......................................................................................................................... |  |  | 2083.4 |
| Total net life insurance reserves ................................................................................................................ | $4128.1 | $3503.0 | $4169.6 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **Separate Account with Guarantees** | **Separate Account with Guarantees** | **Separate Account with Guarantees** | **Separate Account NonGuaranteed** | **Separate Account NonGuaranteed** | **Separate Account NonGuaranteed** |
|  | **Account** <br>**Value**<br>| **Cash Value** | **Reserve** | **Account** <br>**Value**<br>| **Cash Value** | **Reserve** |
| Subject to discretionary withdrawal, surrender <br>values, or policy loans:<br>|  |  |  |  |  |  |
| Universal life ................................................................ | $4946.8 | $4946.8 | $4946.8 | $— | $— | $— |
| Variable universal life ................................................. |  |  |  | 673.8 | 663.3 | 663.3 |
| Total life insurance reserves ............................................ | $4946.8 | $4946.8 | $4946.8 | $673.8 | $663.3 | $663.3 |

---

Total life insurance reserves were as follows:

---

| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| Life insurance reserves ....................................................................................................................................... | **$4592.7** | $4004.1 |
| Accidental death benefits reserves ................................................................................................................... | **0.3** | 0.2 |
| Disability – active lives reserves........................................................................................................................ | **0.6** | 0.7 |
| Disability – disabled lives reserves ................................................................................................................... | **92.7** | 45.4 |
| Miscellaneous reserves ...................................................................................................................................... | **134.1** | 119.2 |
| Separate account life insurance reserves ....................................................................................................... | **5637.1** | 5610.1 |
| Total net life insurance reserves ........................................................................................................................... | **$10457.5** | $9779.7 |

---

As of December 31, 2025 and 2024, the Company had $8,724.3 and $8,756.6, respectively, of insurance in-force for which the

gross premiums were less than the net premiums according to the standard valuation established by the Department. Related

reserves of $202.2 and $209.0 as of December 31, 2025 and 2024, respectively, were included in life and annuity reserves.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**9. Liability for Unpaid Claims**

The following table provides a reconciliation of the beginning and ending liability balances for unpaid claims, net of reinsurance

recoverables:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Balance, beginning of the year ....................................................................................................... | **$761.3** | $710.2 | $633.2 |
| Less: reinsurance recoverables ................................................................................................... | **278.3** | 265.3 | 214.6 |
| Net balance, beginning of the year ................................................................................................ | **483.0** | 444.9 | 418.6 |
| Add provision for claims, net of reinsurance, occurring in: |  |  |  |
| Current year .................................................................................................................................... | **902.5** | 676.6 | 663.9 |
| Prior years ....................................................................................................................................... | **(26.2)** | (0.9) | 2.5 |
| Net incurred losses during the year ............................................................................................... | **876.3** | 675.7 | 666.4 |
| Deduct payments for claims, net of reinsurance, occurring in: |  |  |  |
| Current year .................................................................................................................................... | **529.0** | 427.4 | 425.1 |
| Prior years ....................................................................................................................................... | **225.2** | 212.1 | 208.5 |
| Net claim payments during the current year ................................................................................. | **754.2** | 639.5 | 633.6 |
| Valuation basis change and corrections ........................................................................................ | **—** | 1.9 | (6.5) |
| Policies assumed in Dearborn Acquisition .................................................................................... | **525.3** |  |  |
| Net balance, end of year .................................................................................................................. | **1130.4** | 483.0 | 444.9 |
| Add: reinsurance recoverables .................................................................................................... | **372.7** | 278.3 | 265.3 |
| Balance, end of year ......................................................................................................................... | **$1503.1** | $761.3 | $710.2 |

---

Liabilities for unpaid claims are recorded in policy and contract claims, life and annuity reserves, and accident and health

reserves on the balance sheets. The Company uses estimates in determining its liability for unpaid claims. These estimates are

primarily based on historical claim payment patterns and expected loss ratios to provide for the inherent variability in claim

patterns and severity. For the year ended December 31, 2025, the change in prior year incurred claims was primarily due to

improved group life and DI claims experience for disability reserves from previous years. For the year ended December 31,

2024, the change in prior year incurred claims was primarily due to favorable claims experience on medical stop-loss policies

issued in 2023, partially offset by unfavorable claims experience on life insurance policies issued in 2023.

**10. Capital and Surplus**

The NAIC establishes certain risk-based capital (RBC) requirements for U.S. life and health insurance companies. Under those

requirements, the amount of capital and surplus to be maintained by a life and health insurance company is determined based

on various risk factors. As of December 31, 2025 and 2024, the Company exceeded the minimum capital and surplus and RBC

requirements.

Under Iowa law, the Company may pay dividends only from the earned surplus arising from its business and must receive the

prior approval of the Department to pay stockholder dividends or make any other distribution if such distributions would exceed

certain statutory limitations. Iowa law gives the Department discretion to disapprove requests for distributions in excess of these

limits. Extraordinary dividends include those made within the preceding twelve months that exceed the greater of (i) 10% of

statutory policyholder surplus as of the previous year-end or (ii) the statutory net gain from operations from the previous calendar

year. Based on December 31, 2025 statutory results, the maximum dividend that may be paid without prior approval in 2026 is

$271.1.

During 2025 and 2024, the Company did not pay any dividends to its Parent. During 2023, the Company paid $207.0 of

dividends to its Parent.

**Surplus Notes**

In 2025, the Company issued $500.0 surplus notes due October 1, 2055 with net proceeds totaling $490.8. These surplus notes

bear interest at an annual rate of 6.55%, and interest is payable semi-annually on October 1 and April 1 of each year beginning

April 1, 2026. The surplus notes are subordinated to all current and future indebtedness, rank equally with any future surplus

notes, and are redeemable at any time with regulatory approval. Any payment of interest on, principal of, or redemption requires

prior approval from the Department and may be made only out of the available surplus. As of December 31, 2025, the surplus

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

notes had no approved payments or accrued interest. In March 2026, the Company received approval from the Department to

make a semi-annual interest payment on the notes and paid interest of $22.5 on April 1, 2026.

**11. Income Taxes**

The components of DTAs and deferred tax liabilities (DTLs) are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **Change** | **Change** | **Change** |
|  | **Ordinary** | **Capital** | **Total** | **Ordinary** | **Capital** | **Total** | **Ordinary** | **Capital** | **Total** |
| Gross DTAs .............................. | **$691.8** | **$10.0** | **$701.8** | $525.0 | $10.8 | $535.8 | $166.8 | $(0.8) | $166.0 |
| Less: DTAs nonadmitted ........ | **296.5** | **0.7** | **297.2** | 181.1 | 4.3 | 185.4 | 115.4 | (3.6) | 111.8 |
| Subtotal admitted DTAs ............ | **395.3** | **9.3** | **404.6** | 343.9 | 6.5 | 350.4 | 51.4 | 2.8 | 54.2 |
| Less: DTLs ............................... | **140.6** | **41.1** | **181.7** | 119.8 | 29.4 | 149.2 | 20.8 | 11.7 | 32.5 |
| Net admitted DTAs .................... | **$254.7** | **$(31.8)** | **$222.9** | $224.1 | $(22.9) | $201.2 | $30.6 | $(8.9) | $21.7 |

---

The admission calculation components are as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** | **Change** | **Change** | **Change** |
|  | **Ordinary** | **Capital** | **Total** | **Ordinary** | **Capital** | **Total** | **Ordinary** | **Capital** | **Total** |
| Federal income taxes paid in <br>prior years recoverable <br>through loss carrybacks .........<br>| **$—** | **$4.8** | **$4.8** | $— | $0.8 | $0.8 | $— | $4.0 | $4.0 |
| (1) Adjusted gross DTAs <br>expected to be realized <br>following the balance sheet <br>date .........................................<br>| **255.3** | **—** | **255.3** | 224.9 |  | 224.9 | 30.4 |  | 30.4 |
| (2) Adjusted gross DTAs <br>allowed per limitation <br>threshold ................................<br>| **XXX** | **XXX** | **494.1** | XXX | XXX | 435.2 | XXX | XXX | 58.9 |
| Adjusted gross DTAs <br>expected to be realized after <br>application of the limitation <br>threshold (lesser of (1) and <br>(2)) .............................................<br>| **255.3** | **—** | **255.3** | 224.9 |  | 224.9 | 30.4 |  | 30.4 |
| Adjusted gross DTAs offset <br>by gross DTLs .........................<br>| **140.0** | **4.5** | **144.5** | 119.0 | 5.7 | 124.7 | 21.0 | (1.2) | 19.8 |
| DTAs admitted ............................ | **$395.3** | **$9.3** | **$404.6** | $343.9 | $6.5 | $350.4 | $51.4 | $2.8 | $54.2 |

---

As of December 31, 2025 and 2024, the ratio percentage used to determine the recovery period and limitation threshold amount

was 807% and 748%, respectively. As of December 31, 2025 and 2024, the amount of adjusted capital and surplus used to

determine the recovery period and limitation threshold amounts were $3,293.9 and $2,901.1, respectively. The results of this

calculation component enable the Company to admit DTAs expected to reverse within three years, if not previously admitted as a

carryback.

The admission calculations for 2025 and 2024 were not significantly impacted by tax-planning strategies. The Company had no

unrecognized DTLs as of December 31, 2025 or 2024.

The components of current income tax expense (benefit) are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Federal income tax expense (benefit) ........................................................................................ | **$2.5** | $81.6 | $96.7 |
| Federal income tax expense (benefit) on net capital gains (losses) ...................................... | **12.7** | 8.4 | (19.7) |
| Federal income tax expense (benefit) incurred ............................................................................ | **$15.2** | $90.0 | $77.0 |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

The main components of deferred tax amounts are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** | **Change** |
| **DTAs** |  |  |  |
| Ordinary: |  |  |  |
| Policyholder reserves ............................................................................................................ | **$259.4** | $241.3 | $18.1 |
| Investments ............................................................................................................................ | **52.1** | 47.9 | 4.2 |
| Deferred acquisition costs .................................................................................................... | **202.2** | 173.2 | 29.0 |
| Receivables - nonadmitted ................................................................................................... | **20.0** | 22.2 | (2.2) |
| Goodwill and intangibles ....................................................................................................... | **134.8** | 0.8 | 134.0 |
| Other ........................................................................................................................................ | **23.3** | 39.6 | (16.3) |
| Total ordinary DTAs .................................................................................................................. | **691.8** | 525.0 | 166.8 |
| Less: Total ordinary DTAs – nonadmitted ............................................................................. | **296.5** | 181.1 | 115.4 |
| Net admitted ordinary DTAs ....................................................................................................... | **395.3** | 343.9 | 51.4 |
| Capital: |  |  |  |
| Investments ............................................................................................................................... | **10.0** | 10.8 | (0.8) |
| Less: Nonadmitted ................................................................................................................... | **0.7** | 4.3 | (3.6) |
| Net admitted capital DTAs ......................................................................................................... | **9.3** | 6.5 | 2.8 |
| Net admitted DTAs ......................................................................................................................... | **404.6** | 350.4 | 54.2 |
| **DTLs** |  |  |  |
| Ordinary: |  |  |  |
| Policyholder reserves ............................................................................................................ | **83.9** | 81.4 | 2.5 |
| Investments ............................................................................................................................ | **40.9** | 28.1 | 12.8 |
| Other ........................................................................................................................................ | **15.8** | 10.3 | 5.5 |
| Total ordinary DTLs .................................................................................................................. | **140.6** | 119.8 | 20.8 |
| Capital: |  |  |  |
| Investments ............................................................................................................................ | **41.1** | 29.4 | 11.7 |
| Total capital DTLs ..................................................................................................................... | **41.1** | 29.4 | 11.7 |
| Total DTLs .................................................................................................................................... | **181.7** | 149.2 | 32.5 |
| Net DTAs/DTLs ............................................................................................................................... | **$222.9** | $201.2 | 21.7 |
| Net change in DTA/DTL .......................................................................................................................................................................... | Net change in DTA/DTL .......................................................................................................................................................................... | Net change in DTA/DTL .......................................................................................................................................................................... | 133.5 |
| Surplus adjustments: | Surplus adjustments: | Surplus adjustments: |  |
| Tax effect of change in unrealized capital gains (losses) ................................................................................................................ | Tax effect of change in unrealized capital gains (losses) ................................................................................................................ | Tax effect of change in unrealized capital gains (losses) ................................................................................................................ | 1.1 |
| Adjusted change in net deferred income taxes ................................................................................................................................... | Adjusted change in net deferred income taxes ................................................................................................................................... | Adjusted change in net deferred income taxes ................................................................................................................................... | $134.6 |

---

The Company expects it will fully realize the DTAs and no statutory valuation allowance has been recorded as of December 31,

2025 or 2024.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

Differences between the federal income tax provision and the change in deferred taxes computed by applying the U.S. federal

income tax rate of 21% to the net gain (loss) from operations before federal income taxes and the realized capital losses and the

actual tax provision are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Ordinary income (loss) tax expense (benefit) at federal statutory rate ................................. | **$35.0** | $33.6 | $18.0 |
| Capital income (loss) tax expense (benefit) at federal statutory rate .................................... | **17.3** | 14.7 | (3.9) |
| Total expected income tax expense (benefit) ............................................................................... | **52.3** | 48.3 | 14.1 |
| Significant statutory to tax adjustments on taxes: |  |  |  |
| Tax credits ....................................................................................................................................... | **(7.9)** | (3.4) | (4.1) |
| Change in nonadmitted asset ...................................................................................................... | **(150.8)** | (4.8) | (3.4) |
| Change in valuation basis – statutory reserves | **(4.9)** | (4.8) | (1.9) |
| Change in liability for unauthorized reinsurance ....................................................................... | **0.3** | (0.3) | 14.9 |
| Other ................................................................................................................................................ | **(8.4)** | 0.7 | (3.9) |
| Total federal income tax expense (benefit) ................................................................................... | **$(119.4)** | $35.7 | $15.7 |
| Federal income tax expense (benefit) ........................................................................................ | **$15.2** | $90.0 | $77.0 |
| Adjusted change in net deferred income taxes ......................................................................... | **(134.6)** | (54.3) | (61.3) |
| Total statutory income tax expense (benefit) ................................................................................ | **$(119.4)** | $35.7 | $15.7 |

---

As of December 31, 2025, the Company had no tax credit carryforwards and no operating loss or capital loss carryforwards to

offset against future taxable income.

The amount of federal income taxes incurred that are available for recovery in the event of the carryback of future net capital

losses is as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Capital gains ...................................................................................................................................... | **$5.0** | $— | $— |

---

The Company does not have any deposits admitted under Section 6603 of the *Internal Revenue Code.* The Company has no tax

loss contingencies for which it is reasonably possible that the total liability will significantly increase within twelve months of

December 31, 2025.

The Company is included as a member of a consolidated life/non-life federal income tax return under the Parent in the U.S.

federal jurisdiction. The Company's state income tax filings and filing groups vary based on applicable rules in each state

jurisdiction. The Company's federal and state income tax returns are generally open for examination for tax years 2022 through

the present. In addition, certain other tax years remain open for examination due to loss carryback/carryforward provisions or

amended returns, including life group returns for 2019 through 2021.

The Inflation Reduction Act (Act) was enacted on August 16, 2022. The Act includes a new corporate alternative minimum tax

(CAMT), which is effective for tax years beginning after 2022 and applies to corporations with average adjusted financial

statement income in excess of certain thresholds as defined in the Act. The tax-controlled group of corporations of which the

Company is a member has determined that it does not expect to be an applicable corporation that is subject to the CAMT in

2025. 49

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**12. Separate Accounts**

Separate account assets are attributed to the following products:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2025** | **As of December 31, 2024** | **As of December 31, 2024** | **As of December 31, 2024** |
|  | **Legally** <br>**Insulated**<br>| **Not Legally** <br>**Insulated**<br>| **Total** | **Legally** <br>**Insulated**<br>| **Not Legally** <br>**Insulated**<br>| **Total** |
| BOLI (1) ........................................................ | **$5020.7** | **$205.5** | **$5226.2** | $4946.8 | $198.5 | $5145.3 |
| RILA .............................................................. | **523.1** | **4303.7** | **4826.8** | 348.3 | 3062.7 | 3411.0 |
| Variable annuities ....................................... | **454.1** | **—** | **454.1** | 455.5 |  | 455.5 |
| Variable COLI .............................................. | **405.6** | **—** | **405.6** | 471.1 |  | 471.1 |
| VUL ............................................................... | **221.5** | **—** | **221.5** | 202.8 |  | 202.8 |
| Total ................................................................. | **$6625.0** | **$4509.2** | **$11134.2** | $6424.5 | $3261.2 | $9685.7 |
| ____________________ |  |  |  |  |  |  |

---

(1)The Company allows interest income above the required policy account values within the BOLI separate account. The amount accumulated over

and above the required policy account values is not considered to be legally insulated.

The fair value of BOLI and RILA invested assets not reported at fair value and related net unrealized gains (losses) are as

follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2025** | **2024** | **2024** |
|  | **Fair Value** | **Net Unrealized** <br>**Gains (Losses)**<br>| **Fair Value** | **Net Unrealized** <br>**Gains (Losses)**<br>|
| BOLI .............................................................................................................. | **$4607.4** | **$(578.9)** | $4363.8 | $(743.6) |
| RILA .............................................................................................................. | **3444.3** | **(6.3)** | 2526.9 | (70.4) |

---

In accordance with contract provisions relating to the Company's separate account products, some separate account liabilities

are guaranteed by the general account. For the years ended December 31, 2025 and 2024, the separate accounts did not pay

the general account material amounts for risk charges, and the general account did not pay material amounts due to separate

account guarantees.

The following table provides premium and reserve information for the separate accounts of the Company:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nonindexed** <br>**Guaranteed** <br>**Less Than/** <br>**Equal to 4%**<br>| **Nonindexed** <br>**Guaranteed** <br>**More Than 4%**<br>| **Nonguaranteed** <br>**Separate** <br>**Accounts**<br>| **Total** |
| Premiums, considerations, or deposits for the year ended <br>December 31, 2025 ................................................................................<br>| **$—** | **$—** | **$1231.8** | **$1231.8** |
| Reserves as of December 31, 2025: |  |  |  |  |
| For accounts with assets at: |  |  |  |  |
| Fair value ............................................................................................. | **$—** | **$—** | **$2182.3** | **$2182.3** |
| Amortized cost .................................................................................... | **2335.0** | **2685.7** | **3475.4** | **8496.1** |
| Total reserves .............................................................................................. | **$2335.0** | **$2685.7** | **$5657.7** | **$10678.4** |
| By withdrawal characteristics: |  |  |  |  |
| At book value without fair value adjustment and with current <br>surrender charge of 5% or more ...................................................<br>| **$—** | **$—** | **$3266.3** | **$3266.3** |
| At fair value........................................................................................... | **—** | **—** | **2182.3** | **2182.3** |
| At book value without fair value adjustment and with current <br>surrender charge less than 5% .....................................................<br>| **2335.0** | **2685.7** | **209.1** | **5229.8** |
| Total reserves .............................................................................................. | **$2335.0** | **$2685.7** | **$5657.7** | **$10678.4** |

---

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nonindexed** <br>**Guaranteed** <br>**Less Than/** <br>**Equal to 4%**<br>| **Nonindexed** <br>**Guaranteed** <br>**More Than 4%**<br>| **Nonguaranteed** <br>**Separate** <br>**Accounts**<br>| **Total** |
| Premiums, considerations, or deposits for the year ended <br>December 31, 2024 ................................................................................<br>| $— | $— | $1143.0 | $1143.0 |
| Reserves as of December 31, 2024: |  |  |  |  |
| For accounts with assets at: |  |  |  |  |
| Fair value ............................................................................................. | $— | $— | $1790.8 | $1790.8 |
| Amortized cost .................................................................................... | 2306.3 | 2640.6 | 2487.3 | 7434.2 |
| Total reserves .............................................................................................. | $2306.3 | $2640.6 | $4278.1 | $9225.0 |
| By withdrawal characteristics: |  |  |  |  |
| At book value without fair value adjustment and with current <br>surrender charge of 5% or more ......................................................<br>| $— | $— | $2390.7 | $2390.7 |
| At fair value .............................................................................................. |  |  | 1790.8 | 1790.8 |
| At book value without fair value adjustment and with current <br>surrender charge less than 5% ........................................................<br>| 2306.3 | 2640.6 | 96.6 | 5043.5 |
| Total reserves .............................................................................................. | $2306.3 | $2640.6 | $4278.1 | $9225.0 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nonindexed** <br>**Guaranteed** <br>**Less Than/** <br>**Equal to 4%**<br>| **Nonindexed** <br>**Guaranteed** <br>**More Than 4%**<br>| **Nonguaranteed** <br>**Separate** <br>**Accounts**<br>| **Total** |
| Premiums, considerations, or deposits for the year ended <br>December 31, 2023 ................................................................................<br>| $— | $— | $415.3 | $415.3 |

---

The following table provides a reconciliation of amounts transferred to and from the separate accounts as reported on the

statements of operations:

---

| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Transfers to separate accounts ................................................................................................... | **$1471.7** | $1367.8 | $572.8 |
| Transfers from separate accounts ............................................................................................... | **(677.3)** | (495.1) | (435.6) |
| Net transfers to (from) separate accounts .................................................................................... | **794.4** | 872.7 | 137.2 |
| Deposits in free look period and other timing differences ....................................................... | **(0.2)** | (0.7) |  |
| Net transfers to (from) separate accounts as reported on statements of operations ............ | **$794.2** | $872.0 | $137.2 |

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**13. Related Parties**

The following discussion relates to transactions entered into by the Company with related parties and affiliates. Refer to Note 7

for further discussion on reinsurance agreements and amounts payable or receivable with related parties or affiliates in

connection with reinsurance agreements.

It is the Company's policy to settle amounts due with affiliated companies not less than quarterly, except for certain long-term

compensation liabilities that are settled when the awards are paid and short-term intercompany borrowings. Balances with

related parties recorded in the Company's financial statements were as follows:

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| | | |
|:---|:---|:---|
|  | **As of December 31,** | **As of December 31,** |
|  | **2025** | **2024** |
| Balances with Parent and affiliates: |  |  |
| Receivables .......................................................................................................................................... | **$1.0** | $5.5 |
| Payables ................................................................................................................................................ | **(16.4)** | (4.4) |

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The Company has entered into various agreements with its Parent and its affiliates for services necessary to conduct its

activities. These agreements specify that the parties will provide to and receive from each other certain general services related

to sharing common management, personnel, and facilities, and that the related expenses will be shared. These expenses

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

include rent, corporate overhead, payroll, benefits, data processing systems, finance, information technologies, and other

charges, and are included in general insurance expenses on the statements of operations. General service expenses are

allocated among legal entities using methodologies that management believes to be reasonable to estimate service utilization,

including headcount, time studies, or relevant activity levels.

The Company has an agreement with Symetra Investment Management Company (SIM), an affiliated registered investment

advisor wholly-owned by the Parent, to provide investment advisory services related to the Company's invested assets and with

Symetra Investment Management Real Estate Investors (SIMREI), a subsidiary of SIM, to provide investment management

services related to the Company's mortgage loan portfolio.

The Company also paid concessions, general agent fees, administrative fees, and underwriting fees for services provided by its

affiliates, primarily to Symetra Securities, Inc.

During 2025, the Company received a cash capital contribution of $400.0 from its Parent. During 2024 and 2023, the Company

did not receive any capital contributions from its Parent.

The Company has a short-term intercompany borrowing agreement with its Parent, under which the Company periodically loans

money to its Parent. As of December 31, 2025 and 2024, the balance of the loan was $0.0 and $37.0, respectively.

During 2025, 2024, and 2023, the Company did not contribute cash to its subsidiaries.

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| | | | |
|:---|:---|:---|:---|
|  | **For the Year Ended December 31,** | **For the Year Ended December 31,** | **For the Year Ended December 31,** |
|  | **2025** | **2024** | **2023** |
| Transactions with Parent and affiliates: |  |  |  |
| Payments for investment management and support services ................................................. | **$81.7** | $63.2 | $56.6 |
| Shared services expenses (allocated) payments, net (1) ........................................................ | **(24.3)** | (32.7) | (26.8) |
| Payments for concessions, general agent fees, administrative fees, and underwriting <br>fees (2) ..............................................................................................................................................<br>| **53.7** | 46.0 | 23.1 |
| ___________________ |  |  |  |

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(1)Reported primarily in general insurance expenses on the statements of operations.

(2)Reported primarily in commissions on the statements of operations.

**14. Commitments and Contingencies**

**Litigation**

Because of the nature of its business, the Company is subject to legal actions filed or threatened in the ordinary course of its

business operations. The Company establishes liabilities for legal loss contingencies when it is probable that a loss has been

incurred and the amount of the loss can be reasonably estimated. In such cases, any estimate is not an indication of expected

loss, if any, and there still may be an exposure to loss more than any amounts reasonably estimated and accrued.

For matters where a loss is believed to be reasonably possible, but not probable, no liability is established. For such matters, the

Company may provide an estimate of the possible loss or range of loss or a statement that such an estimate cannot be made.

The Company reviews relevant information with respect to litigation and regulatory matters on a quarterly basis and updates its

established liabilities, disclosures, and estimates of reasonably possible losses or range of loss based on such reviews.

Although the Company cannot predict the outcome of any litigation or regulatory action, the Company does not believe that any

such matters will have an impact on its financial condition or results of operations that differs materially from the Company's

established liabilities. However, given the inherent difficulty in predicting the outcome of such matters, it is possible that an

adverse outcome in certain such matters could be material to the Company's financial condition or results of operations for any

reporting period.

**SYMETRA LIFE INSURANCE COMPANY**

**NOTES TO FINANCIAL STATEMENTS – STATUTORY BASIS**

**(All dollar amounts in millions unless otherwise stated)**

**Other Commitments**

The following table presents the Company's significant commitments not recognized on the balance sheet, including those

associated with separate accounts:

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| | |
|:---|:---|
|  | **As of December 31,** <br>**2025**<br>|
| Unfunded commitments to partnership investments and related structured securities ...................................................... | **$1161.2** |
| Unfunded mortgage loan commitments, approved not yet funded ........................................................................................ | **177.2** |
| Unfunded private placement commitments, purchased, not yet funded ............................................................................... | **267.0** |

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The Company had no other material commitments or contingencies as of December 31, 2025.