# EDGAR Filing Document

**Accession Number:** 0000931424
**File Stem:** 0001193125-26-174199
**Filing Date:** 2026-4
**Character Count:** 80720
**Document Hash:** 0d51544eae4c21e597f71c76564f8829
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-174199.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001193125-26-174199

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260423

**EFFECTIVENESS DATE**: 20260424

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COMPANION LIFE SEPARATE ACCOUNT C
- **CENTRAL INDEX KEY:** 0000931424

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

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08814
- **FILM NUMBER:** 26890016

**BUSINESS ADDRESS:**
- **STREET 1:** 3 LAW DIVISION
- **STREET 2:** MUTUAL OF OMAHA PLAZA
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68175-1008
- **BUSINESS PHONE:** 4023513987

**MAIL ADDRESS:**
- **STREET 1:** 3 LAW DIVISION
- **STREET 2:** MUTUAL OF OMAHA PLAZA
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68175-1008

## Series and Classes Contracts Data

### COMPANION LIFE SEPARATE ACCOUNT C (Series ID: S000010458)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000028888 | ULTRANNUITY SERIES I |  |
| C000028889 | ULTRANNUITY SERIES V |  |

Companion Life

Separate Account C

Financial Statements as of December 31, 2025, and

for each of the Periods Presented in the Years

Ended December 31, 2025 and 2024, and Report of

Independent Registered Public Accounting Firm

------

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

To the Board of Directors of

Companion Life Insurance Company

Hauppauge, New York

**Opinion on the Financial Statements and Financial Highlights** 

We have audited the accompanying statements of net assets of each of the subaccounts of Companion Life Separate Account C (the "Account") listed in Note 2 as of December 31, 2025; the related statements of operations and changes in net assets for each of the two years in the period then ended, financial highlights for each of the five years in the period then ended for each of the subaccounts, except for the subaccounts indicated in the table below, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of each of the subaccounts listed in Note 2 constituting the Account as of December 31, 2025, and the results of their operations and the changes in their net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended (or for the periods listed in the table below), in conformity with accounting principles generally accepted in the United States of America.

---

| | |
|:---|:---|
| **Individual Subaccounts Comprising the**<br> **Companion Life Separate Account C** | **Financial Highlights** |
| Fidelity – VIP Growth | For the period January 1, 2025 to September 29, 2025, and years ended December 31, 2024, 2023, 2022 and 2021 |
| Pioneer – Real Estate Shares VCT | For the period January 1, 2023 to April 28, 2023, and years ended December 31, 2022 and 2021 |
| DWS – Bond | For the period January 1, 2021 to October 28, 2021 |
| DWS – Global Opportunities | For the period January 1, 2024 to June 17, 2024, and years ended December 31, 2023, 2022 and 2021 |
| DWS – Core Equity VIP | For the period January 1, 2024 to June 17, 2024, and years ended December 31, 2023, 2022 and 2021 |

---

------

---

| | |
|:---|:---|
| DWS – Money Market | For the period October 28, 2021 to December 31, 2021, and years ended December 31, 2025, 2024, 2023 and 2022 |
| Morgan Stanley – VIF Core Plus Fixed Income | For the period January 1, 2023 to July 28, 2023, and years ended December 31, 2022 and 2021 |

---

**Basis for Opinion** 

These financial statements and financial highlights are the responsibility of the Account's management. Our responsibility is to express an opinion on the Account's financial statements and financial highlights 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 Account in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Account is not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Account's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, 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 and financial highlights. 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 and financial highlights. Our procedures included confirmation of investments owned as of December 31, 2025, by correspondence with the custodians. We believe that our audits provide a reasonable basis for our opinion.

![LOGO](g33120dsp003.jpg)

Omaha, Nebraska

April 1, 2026

We have served as the auditor of the Account since 1996.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENT OF NET ASSETS

DECEMBER 31, 2025

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | | Fair Value | Fair Value | Fair Value | |
| **NET ASSETS** | Cost | Contracts in<br>Accumulation<br>(Deferred)<br>Period | Contracts in<br>Payout<br>(Annuitization)<br>Period | Net Assets | Shares |
|  **Investments:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Alger:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Growth | 123900 | 180057 | 19573 | 199630 | 1935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Small Capitalization | 86227 | 62109 | 5494 | 67603 | 3627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Federated:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Government Money Fund II | 136481 | 123877 | 12604 | 136481 | 136481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fund for U.S. Government Securities II | 77076 | 68057 |  | 68057 | 7310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fidelity:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIP Asset Manager: Growth | 88938 | 132050 |  | 132050 | 5104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIP Contrafund | 141473 | 213554 |  | 213554 | 3566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIP Equity Income | 130180 | 164705 |  | 164705 | 5597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIP Index 500 | 34156 | 106516 |  | 106516 | 161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **MFS:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Core Equity Portfolio | 76598 | 95755 |  | 95755 | 3008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging Growth Series | 120467 | 161837 |  | 161837 | 2385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; High Yield Series | 21985 | 19739 |  | 19739 | 3878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Research Series | 64583 | 73954 |  | 73954 | 2426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Income Series II | 46577 | 42199 |  | 42199 | 4941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Pioneer:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Income VCT | 13284 | 9951 |  | 9951 | 804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fund VCT | 2601 | 377 | 2784 | 3161 | 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mid Cap Value VCT | 92560 | 82617 |  | 82617 | 7253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **DWS** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International | 30521 | 39547 |  | 39547 | 3795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market | 7272 | 7272 |  | 7272 | 7272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Small Cap Index VIP | 6685 | 7468 |  | 7468 | 497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**T. Rowe Price:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Income | 410247 | 478544 |  | 478544 | 16553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; International Stock | 135008 | 146661 |  | 146661 | 9224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Limited-Term Bond | 32425 | 28916 | 2573 | 31489 | 6629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New America Growth | 155844 | 199362 |  | 199362 | 5027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Moderate Allocation | 162578 | 189075 |  | 189075 | 8430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Morgan Stanley:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; VIF Emerging Markets Equity | 21573 | 28428 |  | 28428 | 1618 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Alger | Alger | Alger | Alger | Federated | Federated |
|  | American Growth | American Growth | American<br>Small Capitalization | American<br>Small Capitalization | Government Money Fund<br>II | Government Money Fund<br>II |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $— | $— | $— | $248 | $4911 | $5629 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (1774) | (1438) | (632) | (654) | (1346) | (1252) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (353) | (286) | (126) | (130) | (268) | (249) |
|  Net investment income (expense) | (2127) | (1724) | (758) | (536) | 3297 | 4128 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 3771 | 2856 | (1293) | (1285) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 21485 |  | 783 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 25256 | 2856 | (510) | (1285) |  |  |
|  Change in unrealized appreciation (depreciation) during the year | 22386 | 47530 | 4569 | 6145 |  |  |
|  Increase (decrease) in net assets from operations | 45515 | 48662 | 3301 | 4324 | 3297 | 4128 |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  |  |  | 240 | 240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | (2762) | (3277) | 1089 | (542) | 3576 | 27341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (3172) | (7521) | (1670) | (1418) | (4636) | (10894) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (65) | (60) | (11) | (12) | (96) | (91) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions | (5999) | (10858) | (592) | (1972) | (916) | 16596 |
|  Total increase (decrease) in net assets | 39516 | 37804 | 2709 | 2352 | 2381 | 20724 |
|  Net assets at beginning of year | 160114 | 122310 | 64894 | 62542 | 134100 | 113376 |
|  Net assets at end of year | $199630 | $160114 | $67603 | $64894 | $136481 | $134100 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 9 | 2 | 51 | 15 | 3780 | 21447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (48) | (100) | (56) | (53) | (4498) | (8531) |
|  Net increase (decrease) in units outstanding | (39) | (98) | (5) | (38) | (718) | 12916 |
|  Units outstanding at beginning of year | 1253 | 1351 | 1260 | 1298 | 102754 | 89838 |
|  Units outstanding at end of year | 1214 | 1253 | 1255 | 1260 | 102036 | 102754 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Federated (continued) | Federated (continued) | Fidelity | Fidelity | Fidelity | Fidelity |
|  | Fund for U.S. Government | Fund for U.S. Government | VIP Asset Manager: | VIP Asset Manager: | | |
|  | Securities II | Securities II | Growth | Growth | VIP Contrafund | VIP Contrafund |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $2519 | $2473 | $2287 $| 2141 | $281 | $429 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (660) | (674) | (1274) | (1270) | (2017) | (2587) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (131) | (134) | (254) | (253) | (402) | (515) |
|  Net investment income (expense) | 1728 | 1665 | 759 | 618 | (2138) | (2673) |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | (403) | (2238) | 3408 | 4428 | 7367 | 47726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions |  |  | 4209 | 1505 | 32177 | 26590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | (403) | (2238) | 7617 | 5933 | 39544 | 74316 |
|  Change in unrealized appreciation (depreciation) during the year | 2212 | 88 | 11606 | 4806 | 17 | 1036 |
|  Increase (decrease) in net assets from operations | 3537 | (485) | 19982 | 11357 | 37423 | 72679 |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | 1689 | 3322 | (612) | 610 | (272) | (445) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (935) | (10598) | (8962) | (16313) | (15282) | (104556) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (31) | (33) | (15) | (24) | (25) | (44) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions | 723 | (7309) | (9589) | (15727) | (15579) | (105045) |
|  Total increase (decrease) in net assets | 4260 | (7794) | 10393 | (4370) | 21844 | (32366) |
|  Net assets at beginning of year | 63797 | 71591 | 121657 | 126027 | 191710 | 224076 |
|  Net assets at end of year | $68057 | $63797 | $132050 | $121657 | $213554 | $191710 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 132 | 211 | 2 | 14 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (95) | (600) | (166) | (323) | (74) | (561) |
|  Net increase (decrease) in units outstanding | 37 | (389) | (164) | (309) | (74) | (561) |
|  Units outstanding at beginning of year | 3385 | 3774 | 2310 | 2619 | 1029 | 1590 |
|  Units outstanding at end of year | 3422 | 3385 | 2146 | 2310 | 955 | 1029 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Fidelity (continued) | Fidelity (continued) | Fidelity (continued) | Fidelity (continued) | Fidelity (continued) | Fidelity (continued) |
|  | VIP Equity Income | VIP Equity Income | VIP Growth | VIP Growth | VIP Index 500 | VIP Index 500 |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $2798 | $2974 | $— | $— | $1145 | $1176 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (1557) | (1864) | (17) | (21) | (1003) | (951) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (310) | (371) | (2) | (3) | (200) | (189) |
|  Net investment income (expense) | 931 | 739 | (19) | (24) | (58) | 36 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 2534 | 10275 | 663 | 10 | 4426 | 8021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 8649 | 9811 | 20 | 367 | 514 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 11183 | 20086 | 683 | 377 | 4940 | 8076 |
|  Change in unrealized appreciation (depreciation) during the year | 13158 | 4558 | (449) | 30 | 10561 | 11515 |
|  Increase (decrease) in net assets from operations | 25272 | 25383 | 215 | 383 | 15443 | 19627 |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  |  |  | 180 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | (146) | (443) | 4 | 11 | (3846) | (5845) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (11297) | (49683) | (1954) |  | (1415) | (5846) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (59) | (55) | (32) | (19) | (57) | (63) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions | (11502) | (50181) | (1982) | (8) | (5138) | (11574) |
|  Total increase (decrease) in net assets | 13770 | (24798) | (1767) | 375 | 10305 | 8053 |
|  Net assets at beginning of year | 150935 | 175733 | 1767 | 1392 | 96211 | 88158 |
|  Net assets at end of year | $164705 | $150935 | $— | $1767 | $106516 | $96211 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 1 | 1 |  |  | 4 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (140) | (631) | (10) |  | (60) | (152) |
|  Net increase (decrease) in units outstanding | (139) | (630) | (10) |  | (56) | (148) |
|  Units outstanding at beginning of year | 1928 | 2558 | 10 | 10 | 1138 | 1286 |
|  Units outstanding at end of year | 1789 | 1928 |  | 10 | 1082 | 1138 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | MFS | MFS | MFS | MFS | MFS | MFS |
|  | Core Equity Portfolio | Core Equity Portfolio | Emerging Growth Series | Emerging Growth Series | High Yield Series | High Yield Series |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $419 | $500 | $— | $— | $1448 | $1288 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (908) | (871) | (1548) | (1408) | (209) | (224) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (181) | (174) | (308) | (280) | (42) | (45) |
|  Net investment income (expense) | (670) | (545) | (1856) | (1688) | 1197 | 1019 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 636 | 2194 | 2390 | 2176 | (432) | (469) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 9337 | 3637 | 27889 | 10710 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 9973 | 5831 | 30279 | 12886 | (432) | (469) |
|  Change in unrealized appreciation (depreciation) during the year | 445 | 9379 | (12165) | 23883 | 728 | 632 |
|  Increase (decrease) in net assets from operations | 9748 | 14665 | 16258 | 35081 | 1493 | 1182 |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners | 180 | 180 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | (464) | (4153) | 145 | (2345) | 71 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (777) | (5698) | (4146) | (1916) | (3066) | (3248) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (43) | (48) | (25) | (25) | (4) | (4) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions | (1104) | (9719) | (4026) | (4286) | (2999) | (3226) |
|  Total increase (decrease) in net assets | 8644 | 4946 | 12232 | 30795 | (1506) | (2044) |
|  Net assets at beginning of year | 87111 | 82165 | 149605 | 118810 | 21245 | 23289 |
|  Net assets at end of year | $95755 | $87111 | $161837 | $149605 | $19739 | $21245 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 12 | 6 | 9 | 2 | 2 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (24) | (129) | (34) | (34) | (86) | (100) |
|  Net increase (decrease) in units outstanding | (12) | (123) | (25) | (32) | (84) | (99) |
|  Units outstanding at beginning of year | 1036 | 1159 | 1022 | 1054 | 626 | 725 |
|  Units outstanding at end of year | 1024 | 1036 | 997 | 1022 | 542 | 626 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | MFS (continued) | MFS (continued) | MFS (continued) | MFS (continued) | Pioneer | Pioneer |
|  | Research Series | Research Series | Income Series II | Income Series II | Equity Income VCT | Equity Income VCT |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $710 | $418 | $1745 | $1559 | $188 | $171 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (726) | (732) | (413) | (418) | (94) | (89) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (145) | (146) | (82) | (83) | (19) | (18) |
|  Net investment income (expense) | (161) | (460) | 1250 | 1058 | 75 | 64 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 1265 | 3349 | (281) | (852) | (41) | (31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 17397 | 4024 |  |  | 1352 | 1591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 18662 | 7373 | (281) | (852) | 1311 | 1560 |
|  Change in unrealized appreciation (depreciation) during the year | (10394) | 4744 | 1437 | 586 | (498) | (827) |
|  Increase (decrease) in net assets from operations | 8107 | 11657 | 2406 | 792 | 888 | 797 |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | 245 | (905) | 1226 | 1503 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (6195) | (10077) | (1567) | (5367) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (21) | (22) | (24) | (30) | (6) | (6) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions | (5971) | (11004) | (365) | (3894) | (6) | (6) |
|  Total increase (decrease) in net assets | 2136 | 653 | 2041 | (3102) | 882 | 791 |
|  Net assets at beginning of year | 71818 | 71165 | 40158 | 43260 | 9069 | 8278 |
|  Net assets at end of year | $73954 | $71818 | $42199 | $40158 | $9951 | $9069 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 5 | 1 | 67 | 76 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (63) | (125) | (82) | (243) |  |  |
|  Net increase (decrease) in units outstanding | (58) | (124) | (15) | (167) |  |  |
|  Units outstanding at beginning of year | 754 | 878 | 1691 | 1858 | 214 | 214 |
|  Units outstanding at end of year | 696 | 754 | 1676 | 1691 | 214 | 214 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Pioneer (continued) | Pioneer (continued) | Pioneer (continued) | Pioneer (continued) | DWS | DWS |
|  | Fund VCT | Fund VCT | Mid Cap Value VCT | Mid Cap Value VCT | Global Opportunities | Global Opportunities |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $6 | $12 | $1612 | $1436 | $— | $34 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (29) | (29) | (771) | (750) |  | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (6) | (6) | (153) | (149) |  | (3) |
|  Net investment income (expense) | (29) | (23) | 688 | 537 |  | 17 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 38 | 30 | (474) | (1594) |  | (562) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 388 | 136 | 6257 | 4409 |  | 134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 426 | 166 | 5783 | 2815 |  | (428) |
|  Change in unrealized appreciation (depreciation) during the year | 182 | 380 | 1082 | 3447 |  | 385 |
|  Increase (decrease) in net assets from operations | 579 | 523 | 7553 | 6799 |  | (26) |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  | 180 | 180 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net |  |  | 2974 | (1626) |  | (2987) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (260) | (239) | (1294) | (5462) |  | (46) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (12) | (12) | (43) | (49) |  |  |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions | (272) | (251) | 1817 | (6957) |  | (3033) |
|  Total increase (decrease) in net assets | 307 | 272 | 9370 | (158) |  | (3059) |
|  Net assets at beginning of year | 2854 | 2582 | 73247 | 73405 |  | 3059 |
|  Net assets at end of year | $3161 | $2854 | $82617 | $73247 | $— | $— |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  | 56 | 15 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (5) | (6) | (28) | (117) |  | (63) |
|  Net increase (decrease) in units outstanding | (5) | (6) | 28 | (102) |  | (62) |
|  Units outstanding at beginning of year | 61 | 67 | 1045 | 1147 |  | 62 |
|  Units outstanding at end of year | 56 | 61 | 1073 | 1045 |  |  |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | DWS (continued) | DWS (continued) | DWS (continued) | DWS (continued) | DWS (continued) | DWS (continued) |
|  | Core Equity VIP | Core Equity VIP | International | International | Money Market | Money Market |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $&nbsp;&nbsp;&nbsp;&nbsp; | $74 | $981 | $1203 | $280 | $336 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk |  | (64) | (361) | (347) | (90) | (88) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges |  | (12) | (72) | (69) | (11) | (11) |
|  Net investment income (expense) |  | (2) | 548 | 787 | 179 | 237 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares |  | 3266 | 608 | (682) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions |  | 727 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) |  | 3993 | 608 | (682) |  |  |
|  Change in unrealized appreciation (depreciation) during the year |  | (2232) | 11760 | 269 |  |  |
|  Increase (decrease) in net assets from operations |  | 1759 | 12916 | 374 | 179 | 237 |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | —  | (14282) | (2770) | 1049 | —  | —  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations |  | (1222) | (2484) | (6535) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges |  | (2) | (6) | (8) | (5) | (5) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions |  | (15506) | (5260) | (5494) | (5) | (5) |
|  Total increase (decrease) in net assets |  | (13747) | 7656 | (5120) | 174 | 232 |
|  Net assets at beginning of year |  | 13747 | 31891 | 37011 | 7098 | 6866 |
|  Net assets at end of year | $— | $— | $39547 | $31891 | $7272 | $7098 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  | 2 | 45 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals |  | (282) | (208) | (315) | (4) | (4) |
|  Net increase (decrease) in units outstanding |  | (282) | (206) | (270) | (4) | (4) |
|  Units outstanding at beginning of year |  | 282 | 1543 | 1813 | 5392 | 5396 |
|  Units outstanding at end of year |  |  | 1337 | 1543 | 5388 | 5392 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | DWS (continued) | DWS (continued) | T. Rowe Price | T. Rowe Price | T. Rowe Price | T. Rowe Price |
|  | Small Cap Index VIP | Small Cap Index VIP | Equity Income | Equity Income | International Stock | International Stock |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $91 | $74 | $7542 | $8179 | $2745 | $1259 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (68) | (65) | (4595) | (4554) | (1405) | (1518) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (14) | (13) | (914) | (905) | (280) | (302) |
|  Net investment income (expense) | 9 | (4) | 2033 | 2720 | 1060 | (561) |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 2 | 3 | 6185 | 6646 | 1150 | 2387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 390 | 174 | 45536 | 28975 | 12059 | 3259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 392 | 177 | 51721 | 35621 | 13209 | 5646 |
|  Change in unrealized appreciation (depreciation) during the year | 356 | 427 | 2748 | 5307 | 7486 | (1631) |
|  Increase (decrease) in net assets from operations | 757 | 600 | 56502 | 43648 | 21755 | 3454 |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  | 180 | 180 | 180 | 180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net |  |  | 2779 | (2571) | (1721) | 4246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations |  |  | (26467) | (25416) | (3179) | (25832) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges |  |  | (78) | (70) | (56) | (57) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions |  |  | (23586) | (27877) | (4776) | (21463) |
|  Total increase (decrease) in net assets | 757 | 600 | 32916 | 15771 | 16979 | (18009) |
|  Net assets at beginning of year | 6711 | 6111 | 445628 | 429857 | 129682 | 147691 |
|  Net assets at end of year | $7468 | $6711 | $478544 | $445628 | $146661 | $129682 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  | 39 | 6 | 82 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals |  |  | (293) | (337) | (234) | (888) |
|  Net increase (decrease) in units outstanding |  |  | (254) | (331) | (152) | (736) |
|  Units outstanding at beginning of year | 163 | 163 | 5137 | 5468 | 4550 | 5286 |
|  Units outstanding at end of year | 163 | 163 | 4883 | 5137 | 4398 | 4550 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | T. Rowe Price (continued) | T. Rowe Price (continued) | T. Rowe Price (continued) | T. Rowe Price (continued) | T. Rowe Price (continued) | T. Rowe Price (continued) |
|  | Limited-Term Bond | Limited-Term Bond | New America Growth | New America Growth | Moderate Allocation | Moderate Allocation |
|  | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 |
|  Income: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $1314 | $1468 | $— | $129 | $4135 | $4196 |
|  Expenses: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (308) | (355) | (1997) | (1890) | (1835) | (1882) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (61) | (70) | (361) | (344) | (365) | (375) |
|  Net investment income (expense) | 945 | 1043 | (2358) | (2105) | 1935 | 1939 |
|  Realized gains (losses) on investments: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | (58) | (819) | 3778 | 5558 | 2266 | 2731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions |  |  | 21858 | 19951 | 8070 | 4931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | (58) | (819) | 25636 | 25509 | 10336 | 7662 |
|  Change in unrealized appreciation (depreciation) during the year | 447 | 989 | 3517 | 13884 | 10452 | 6058 |
|  Increase (decrease) in net assets from operations | 1334 | 1213 | 26795 | 37288 | 22723 | 15659 |
|  Contract Transactions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | 749 | 1545 | (177) | (1485) | 366 | 625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (737) | (14140) | (10003) | (16174) | (13680) | (24714) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (7) | (50) | (41) | (40) | (50) | (50) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |  |  |  |  |
|  Net increase (decrease) in net assets from contract transactions | 5 | (12645) | (10221) | (17699) | (13364) | (24139) |
|  Total increase (decrease) in net assets | 1339 | (11432) | 16574 | 19589 | 9359 | (8480) |
|  Net assets at beginning of year | 30150 | 41582 | 182788 | 163199 | 179716 | 188196 |
|  Net assets at end of year | $31489 | $30150 | $199362 | $182788 | $189075 | $179716 |
|  Accumulation units: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 68 | 87 | 4 | 1 | 12 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (68) | (798) | (61) | (118) | (211) | (407) |
|  Net increase (decrease) in units outstanding |  | (711) | (57) | (117) | (199) | (394) |
|  Units outstanding at beginning of year | 1653 | 2364 | 1120 | 1237 | 2841 | 3235 |
|  Units outstanding at end of year | 1653 | 1653 | 1063 | 1120 | 2642 | 2841 |

---

See notes to these financial statements.

------

COMPANION LIFE SEPARATE ACCOUNT C

STATEMENTS OF OPERATIONS AND CHANGES IN NET ASSETS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

---

| | | |
|:---|:---|:---|
|  | Morgan Stanley | Morgan Stanley |
|  | VIF Emerging Markets<br>Equity | VIF Emerging Markets<br>Equity |
|  | 2025 | 2024 |
|  Income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | $104 | $314 |
|  Expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality & expense risk | (260) | (236) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative charges | (52) | (47) |
|  Net investment income (expense) | (208) | 31 |
|  Realized gains (losses) on investments: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) on sale of fund shares | 449 | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gain distributions | 869 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net realized gains (losses) | 1318 | 54 |
|  Change in unrealized appreciation (depreciation) during the year | 6042 | 1342 |
|  Increase (decrease) in net assets from operations | 7152 | 1427 |
|  Contract Transactions: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payments received from contract owners | 60 | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts (including fixed account), net | (2133) | 484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers for contract benefits and terminations | (263) | (225) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contract maintenance charges | (17) | (17) |
|  Adjustments to net assets allocated to contracts in payout year |  |  |
|  Net increase (decrease) in net assets from contract transactions | (2353) | 302 |
|  Total increase (decrease) in net assets | 4799 | 1729 |
|  Net assets at beginning of year | 23629 | 21900 |
|  Net assets at end of year | $28428 | $23629 |
|  Accumulation units: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | 6 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Withdrawals | (80) | (25) |
|  Net increase (decrease) in units outstanding | (74) | 11 |
|  Units outstanding at beginning of year | 871 | 860 |
|  Units outstanding at end of year | 797 | 871 |

---

See notes to these financial statements.

------

**COMPANION LIFE SEPARATE ACCOUNT C** 

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

**1.** **NATURE OF OPERATIONS** 

Companion Life Separate Account C (the "Separate Account") was established by Companion Life Insurance Company ("Companion") on February 18, 1994, under the laws of the State of New York, and is registered as a unit investment trust under the Investment Company Act of 1940, as amended. The Separate Account is a funding vehicle for individual variable annuity contracts. The assets of the Separate Account are owned by Companion, however, the net assets of the Separate Account are clearly identified and distinguished from Companion's other assets and liabilities. The portion of the Separate Account's assets applicable to the variable annuity contracts is not chargeable with liabilities arising out of any other business Companion may conduct.

A contract owner of the Separate Account may allocate funds to the fixed income account, which is part of Companion's general account, in addition to the subaccounts detailed below. Interests in the fixed income account have not been registered under the Securities Act of 1933 and Companion has not been registered as an investment company under the Investment Company Act of 1940, due to exemptive and exclusionary provisions under such acts.

**2.** **SUBACCOUNTS** 

The Separate Account is divided into subaccounts for which accumulation units are separately maintained. Each subaccount invests exclusively in shares of a corresponding mutual fund portfolio. The available subaccounts with activity during 2025 or 2024 are:

**<u>Alger</u>**

***Alger American Fund***

Alger American Large Cap Growth Portfolio Class O ("American Growth")

Alger American Small Cap Growth Portfolio Class O ("American Small Capitalization")

**<u>Federated</u>**

***Federated Insurance Series***

Federated Hermes Government Money Market Fund II Portfolio ("Government Money Fund II")

Federated Hermes Fund for U.S. Government Securities II ("Fund for U.S. Government Securities II")

**<u>Fidelity</u>**

***Fidelity Variable Insurance Products Fund***

Fidelity VIP Equity-Income Portfolio Initial Class ("VIP Equity Income")

Fidelity VIP Growth Portfolio Initial Class ("VIP Growth")

***Fidelity Variable Insurance Products***

Fidelity VIP Asset Manager: Growth Portfolio Initial Class ("VIP Asset Manager: Growth")

Fidelity VIP Contrafund Portfolio Service Class ("VIP Contrafund")

Fidelity VIP Index 500 Portfolio Initial Class ("VIP Index 500")

**<u>MFS</u>**

***MFS Variable Insurance Trust***

MFS Core Equity Portfolio ("Core Equity Portfolio")

MFS Growth Series Portfolio Initial Class ("Emerging Growth Series")

MFS VIT II High Yield Initial Class ("High Yield Series")

MFS Research Series Portfolio Initial Class ("Research Series")

MFS VIT II Income Initial Class ("Income Series II")

**<u>Pioneer</u>**

***Pioneer Variable Contracts Trust***

Pioneer Equity Income VCT Portfolio Class II ("Equity Income VCT")

Pioneer Fund VCT Portfolio Class II ("Fund VCT")

Pioneer Mid Cap Value VCT Portfolio Class I ("Mid Cap Value VCT")

**<u>DWS</u>**

***DWS Variable Series I***

DWS Global Opportunities VIP Class B ("Global Opportunities")

DWS Core Equity VIP Class B ("Core Equity VIP")

DWS CROCI International VIP Class A ("International")

DWS Government Money Market VIP ("Money Market")

***DWS Investments VIT Funds***

DWS Small Cap Index VIP Class A ("Small Cap Index VIP")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**<u>T. Rowe Price</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***T. Rowe Price Equity Series, Inc.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Income Portfolio ("Equity Income")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price New America Growth Portfolio ("New America Growth")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Moderate Allocation Portfolio ("Moderate Allocation")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***T. Rowe Price International Series, Inc.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price International Stock Portfolio ("International Stock")

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***T. Rowe Price Fixed Income Series, Inc.***

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Limited-Term Bond Portfolio ("Limited-Term Bond")

**<u>Morgan Stanley</u>**

***Morgan Stanley Variable Insurance Funds***

Morgan Stanley VIF Emerging Markets Equity Portfolio Class I ("VIF Emerging Markets Equity")

The availability of some subaccounts is dependent upon the product under which each contract was written.

Effective June 17, 2024, "DWS Core Equity VIP - Class B" ("Core Equity VIP") was no longer available for investment. Assets were transferred to Federated Hermes Government Money Fund II ("Government Money Fund II")

Effective June 17, 2024, "DWS Global Opportunities VIP - Class B" ("Global Opportunities") was no longer available for investment. Assets were transferred to Government Money Fund II.

------

**3.** **SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES** 

***Use of Estimates -*** The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and disclosures of assets at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting year. Actual results could differ from those estimates. The most significant estimates and assumptions include those used in investment valuation in absence of quoted market prices.

***Security Valuation and Related Investment Income -*** Investments are made in the portfolios of the Separate Account and are valued at the reported net asset values of such portfolios, which value their investment securities at fair value. Transactions are recorded on a trade date basis. Income from dividends and gains from realized gain distributions are recorded on the ex-distribution date. Realized gains and losses on the sales of investments are determined based on the average cost of investments sold.

The investments of the Separate Account and Companion Life Separate Account B are jointly held in accounts with the investment managers.

***Contracts in Payout (Annuitization) period -*** Net assets allocated to contracts in the payout period are computed according to the 1983 Individual Annuitant Mortality Table. The assumed investment return is 4.0%. The mortality risk is fully borne by Companion and may result in additional amounts being transferred into the subaccounts of the Separate Account by Companion to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to Companion. These items are included in the adjustment to net assets allocated to contracts in payout year.

***Federal Income Taxes -*** Companion is taxed as a life insurance company and includes in its results the taxable income or loss of the Separate Account subaccounts excluding those items which are specifically attributed to the contracts. No charge for federal income tax is being made to the Separate Account subaccounts. In the event of changes in the tax laws, charges may be made in the future.

As of December 31, 2025, there were no uncertain tax positions which management believes will materially change within the next twelve months.

***Fair Value Measurements -*** Current fair value guidance requires financial instruments measured at fair value to be categorized into a three-level classification. The lowest level input that is significant to the fair value measurement of a financial instrument is used to categorize the instrument and reflects the judgment of management. The valuation criteria is summarized as follows:

---

| | |
|:---|:---|
|  **Level 1 -** | &nbsp;&nbsp;&nbsp;&nbsp; Inputs are unadjusted and represent quoted prices in active markets for identical assets at the measurement date. |
|  **Level 2 -** | &nbsp;&nbsp;&nbsp;&nbsp; Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset through correlation with market data at the measurement date. |
|  **Level 3 -** | &nbsp;&nbsp;&nbsp;&nbsp; Inputs reflect management's best estimate of what market participants would use in pricing the asset at the measurement date. Financial assets presented at fair value and categorized as Level 3 are generally those that are valued using unobservable inputs. |

---

Each subaccount invests in shares of mutual funds, which calculate a daily net asset value based on the value of the underlying securities in the portfolio. As such, the investments held in the Separate Account were valued using Level 2 inputs as defined by the applicable fair value guidance.

***Payments Received from Contract Owners -*** In the Statement of Operations and Changes in Net Assets, the line item "Payments received from contract owners" includes both deposits received from policyholders and the net gains and losses resulting from the timing of executed trades.

***Segment Reporting -*** Each fund of the Separate Account constitutes a single operating segment and therefore, a single reportable segment because the chief operating decision maker ("CODM") manages the activities of the Separate Account using information of each fund. The Separate Account is engaged in a single line of business as a registered unit investment trust. The Separate Account is a funding vehicle for individual variable annuity contracts with the assets owned by Companion to support the liabilities of the applicable insurance contracts. The subaccounts have identified the Chief Financial Officer of the sponsoring company as the CODM as the Separate Account does not have employees and is not a separate legal entity.

The CODM uses increase (decrease) in net assets from operations as their performance measure in order to make operational decisions while monitoring the net assets of each of the funds within the Separate Account. The Accounting policies used to measure profit and loss of the segments are the same as those described in the summary of significant accounting policies (included in this note). The measure of segment assets is reported on the statement of net assets as net assets. Refer to the Statements of Operations and Changes in Net Assets for each fund's operating segment and related footnotes for significant principle expenses and the existing segment requirements as of December 31, 2024 and for the year ended December 31, 2025 and December 31, 2024. All assets and revenue is generated in the US and there is no customer greater than 10% of consolidated results for all periods presented.

***Subsequent Events -*** Subsequent events have been evaluated through April 1, 2026, the date these financial statements were issued.

**4.** **ACCOUNT CHARGES** 

---

| | |
|:---|:---|
| **Mortality** | **& Expense Risk Charges:**  |

---

Companion deducts a daily charge as compensation for the mortality and expense risks assumed by Companion. The annual rate is a percentage of the net asset value of each subaccount based on the following products:

---

| | |
|:---|:---|
|  Series I 1.25% | Series V 1.00% |

---

These charges are assessed through reduction of unit values. Companion guarantees that the mortality and expense charge will not increase above these levels.

---

| | |
|:---|:---|
| **Administrative** | **Charges:**  |

---

Companion deducts a daily administrative expense charge from the net assets of the subaccounts of the Separate Account. The annual rate is a percentage of the net asset value of each subaccount based on the following products:

---

| | |
|:---|:---|
|  Series I 0.15% | Series V 0.20% |

---

These charges are assessed through reduction of unit values. Companion guarantees that the daily administrative expense charge will not increase.

---

| | |
|:---|:---|
| **Contract** | **Maintenance Charges:**  |

---

***Withdrawal Charge -*** Companion may deduct a withdrawal charge, expressed as a percentage of accumulation value surrendered or withdrawn. The withdrawal charge percentage varies depending upon the number of years elapsed since the date the purchase payment was made. The amount of the withdrawal requested plus the withdrawal charge is deducted from the accumulation value on the date the request is received as a redemption of units. Withdrawal charges are applied as a percentage of the requested withdrawal and range from 0% - 7%.

***Transfer Fees -*** A transfer fee of $10 may be imposed for any non-systematic transfer in excess of twelve per contract year. The transfer fee is deducted from the amount transferred on the transfer date as a redemption of units.

***Contract Fee -*** There is an annual contract fee of $30 that is deducted from the accumulated value on the last valuation date of each contract year or at complete surrender. The annual contract fee is waived if the accumulated value is greater than $50,000 on the last valuation date of the applicable contract year. This charge is assessed through the redemption of units. Companion guarantees that the annual contract fee will not increase.

------

**5.** **PURCHASES AND SALES OF INVESTMENTS** 

The aggregate cost of net daily purchases and proceeds from net daily sales of investments for the year ended December 31, 2025 were as follows:

---

| | | |
|:---|:---|:---|
|  | ***Purchases*** | ***Sales*** |
|  <u>**Alger**</u> |  |  |
|  American Growth | $975 | $9100 |
|  American Small Capitalization | 2243 | 3593 |
|  **<u>Federated</u>** |  |  |
|  Government Money Fund II | 4801 | 7331 |
|  Fund for U.S. Government Securities II | 2555 | 2623 |
|  **<u>Fidelity</u>** |  |  |
|  VIP Asset Manager: Growth | 135 | 11252 |
|  VIP Contrafund |  | 17998 |
|  VIP Equity Income | 91 | 13460 |
|  VIP Growth |  | 2001 |
|  VIP Index 500 | 306 | 6647 |
|  **<u>MFS</u>** |  |  |
|  Core Equity Portfolio | 956 | 3147 |
|  Emerging Growth Series | 1217 | 7101 |
|  High Yield Series | 67 | 3317 |
|  Research Series | 515 | 7357 |
|  Income Series II | 1627 | 2487 |
|  **<u>Pioneer</u>** |  |  |
|  Equity Income VCT |  | 119 |
|  Fund VCT |  | 307 |
|  Mid Cap Value VCT | 3695 | 2802 |
|  **<u>DWS</u>** |  |  |
|  International | 41 | 5734 |
|  Money Market | 1 | 107 |
|  Small Cap Index VIP |  | 82 |
| **<u>T. Rowe Price</u>** |  |  |
|  Equity Income | 2955 | 32050 |
|  International Stock | 2457 | 8918 |
|  Limited-Term Bond | 1260 | 1624 |
|  New America Growth | 510 | 13089 |
|  Moderate Allocation | 790 | 16354 |
|  **<u>Morgan Stanley</u>** |  |  |
|  VIF Emerging Markets Equity | 174 | 2839 |

---

**6.** **ADMINISTRATION OF THE SEPARATE ACCOUNT** 

Companion has an administrative services agreement with Security Benefit Life Insurance Company ("Security Benefit"), whose affiliate Zinnia Corporate Holdings, LLC ("Zinnia") performs administrative functions on behalf of Companion with respect to the contracts comprising the Separate Account.

**7.** **REINSURANCE ARRANGEMENTS** 

Companion has a reinsurance agreement to cede to Security Benefit, on a modified coinsurance basis, certain Companion rights, liabilities and obligations in the Separate Account. The ceding of this business does not discharge Companion from its primary legal liability to a contract owner.

------

**8.** **FINANCIAL HIGHLIGHTS** 

A summary of units, unit values, and net assets at December 31 and investment income ratio, expense ratio and total return for the years ended December 31 follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** |
|  | **Units** | **Unit Value**<br>**lowest to highest** | **Unit Value**<br>**lowest to highest** | **Net<br>Assets** | **Investment**<br>**Income**<br>**Ratio\*** | **Expense Ratio**<br>**lowest to<br>highest\*\*** | **Expense Ratio**<br>**lowest to<br>highest\*\*** | **Total Return**<br>**lowest to highest\*\*\*** | **Total Return**<br>**lowest to highest\*\*\*** |
|  **<u>Alger</u>** |  |  |  |  |  |  |  |  |  |
|  American Growth - 2025 | 1214 | 164.44 to | 164.44 | 199630 | 0.00% | 1.20% to | 1.20% | 28.71% to | 28.71% |
|  American Growth - 2024 | 1253 | 127.76 to | 127.76 | 160114 | 0.00% | 1.20% to | 1.20% | 41.16% to | 41.16% |
|  American Growth - 2023 | 1351 | 90.51 to | 90.51 | 122310 | 0.00% | 1.20% to | 1.20% | 31.10% to | 31.10% |
|  American Growth - 2022 | 1442 | 69.04 to | 69.04 | 99552 | 0.00% | 1.20% to | 1.20% | -39.39% to | -39.39% |
|  American Growth - 2021 | 1542 | 113.91 to | 113.91 | 175610 | 0.00% | 1.20% to | 1.20% | 10.50% to | 10.50% |
|  American Small Capitalization - 2025 | 1255 | 53.88 to | 53.88 | 67603 | 0.00% | 1.20% to | 1.20% | 4.65% to | 4.65% |
|  American Small Capitalization - 2024 | 1260 | 51.49 to | 51.49 | 64894 | 0.39% | 1.20% to | 1.20% | 6.83% to | 6.83% |
|  American Small Capitalization - 2023 | 1298 | 48.20 to | 48.20 | 62542 | 0.00% | 1.20% to | 1.20% | 15.09% to | 15.09% |
|  American Small Capitalization - 2022 | 1371 | 41.88 to | 41.88 | 57425 | 0.00% | 1.20% to | 1.20% | -38.75% to | -38.75% |
|  American Small Capitalization - 2021 | 1380 | 68.38 to | 68.38 | 94333 | 0.00% | 1.20% to | 1.20% | -7.18% to | -7.18% |
|  **<u>Federated</u>** |  |  |  |  |  |  |  |  |  |
|  Government Money Fund II - 2025 | 102036 | 1.34 to | 1.34 | 136481 | 3.63% | 1.20% to | 1.20% | 2.11% to | 2.11% |
|  Government Money Fund II - 2024 | 102754 | 1.31 to | 1.31 | 134100 | 4.55% | 1.20% to | 1.20% | 3.97% to | 3.97% |
|  Government Money Fund II - 2023 | 89838 | 1.26 to | 1.26 | 113376 | 4.45% | 1.20% to | 1.20% | 3.28% to | 3.28% |
|  Government Money Fund II - 2022 | 16326 | 1.22 to | 1.22 | 19949 | 1.11% | 1.20% to | 1.20% | 0.00% to | 0.00% |
|  Government Money Fund II - 2021 | 18885 | 1.22 to | 1.22 | 23088 | 0.00% | 1.20% to | 1.20% | -1.61% to | -1.61% |
|  Fund for U.S. Government Securities II - 2025 | 3422 | 19.89 to | 19.89 | 68057 | 3.82% | 1.20% to | 1.20% | 5.52% to | 5.52% |
|  Fund for U.S. Government Securities II - 2024 | 3385 | 18.85 to | 18.85 | 63797 | 3.65% | 1.20% to | 1.20% | -0.63% to | -0.63% |
|  Fund for U.S. Government Securities II - 2023 | 3774 | 18.97 to | 18.97 | 71591 | 2.31% | 1.20% to | 1.20% | 2.93% to | 2.93% |
|  Fund for U.S. Government Securities II - 2022 | 4101 | 18.43 to | 18.43 | 75569 | 1.87% | 1.20% to | 1.20% | -13.60% to | -13.60% |
|  Fund for U.S. Government Securities II - 2021 | 4503 | 21.33 to | 21.33 | 96032 | 2.03% | 1.20% to | 1.20% | -3.22% to | -3.22% |
|  **<u>Fidelity</u>** |  |  |  |  |  |  |  |  |  |
|  VIP Asset Manager: Growth - 2025 | 2146 | 61.54 to | 61.54 | 132050 | 1.80% | 1.20% to | 1.20% | 16.84% to | 16.84% |
|  VIP Asset Manager: Growth - 2024 | 2310 | 52.67 to | 52.67 | 121657 | 1.73% | 1.20% to | 1.20% | 9.46% to | 9.46% |
|  VIP Asset Manager: Growth - 2023 | 2619 | 48.12 to | 48.12 | 126027 | 1.78% | 1.20% to | 1.20% | 14.98% to | 14.98% |
|  VIP Asset Manager: Growth - 2022 | 2783 | 41.85 to | 41.85 | 116446 | 1.68% | 1.20% to | 1.20% | -17.88% to | -17.88% |
|  VIP Asset Manager: Growth - 2021 | 3031 | 50.96 to | 50.96 | 154474 | 1.39% | 1.20% to | 1.20% | 12.59% to | 12.59% |
|  VIP Contrafund - 2025 | 955 | 223.56 to | 223.56 | 213554 | 0.14% | 1.20% to | 1.20% | 20.02% to | 20.02% |
|  VIP Contrafund - 2024 | 1029 | 186.26 to | 186.26 | 191710 | 0.21% | 1.20% to | 1.20% | 32.18% to | 32.18% |
|  VIP Contrafund - 2023 | 1590 | 140.91 to | 140.91 | 224076 | 0.50% | 1.20% to | 1.20% | 31.85% to | 31.85% |
|  VIP Contrafund - 2022 | 1606 | 106.87 to | 106.87 | 171635 | 0.47% | 1.20% to | 1.20% | -27.20% to | -27.20% |
|  VIP Contrafund - 2021 | 1626 | 146.79 to | 146.79 | 238689 | 0.06% | 1.20% to | 1.20% | 26.30% to | 26.30% |
|  VIP Equity Income - 2025 | 1789 | 92.06 to | 92.06 | 164705 | 1.77% | 1.20% to | 1.20% | 17.60% to | 17.60% |
|  VIP Equity Income - 2024 | 1928 | 78.28 to | 78.28 | 150935 | 1.82% | 1.20% to | 1.20% | 13.94% to | 13.94% |
|  VIP Equity Income - 2023 | 2558 | 68.70 to | 68.70 | 175733 | 2.42% | 1.20% to | 1.20% | 9.33% to | 9.33% |
|  VIP Equity Income - 2022 | 5273 | 62.84 to | 62.84 | 331309 | 1.86% | 1.20% to | 1.20% | -6.08% to | -6.08% |
|  VIP Equity Income - 2021 | 5747 | 66.91 to | 66.91 | 384542 | 1.94% | 1.20% to | 1.20% | 23.38% to | 23.38% |
|  VIP Growth - January 1, 2025 to September 29, 2025 |  | 194.79 to | 194.79 |  | 0.00% | 1.40% to | 1.40% | 12.45% to | 12.45% |
|  VIP Growth - 2024 | 10 | 173.23 to | 173.23 | 1767 | 0.00% | 1.40% to | 1.40% | 28.56% to | 28.56% |
|  VIP Growth - 2023 | 10 | 134.75 to | 134.75 | 1392 | 0.01% | 1.40% to | 1.40% | 34.33% to | 34.33% |
|  VIP Growth - 2022 | 601 | 100.31 to | 100.31 | 60317 | 0.58% | 1.40% to | 1.40% | -25.51% to | -25.51% |
|  VIP Growth - 2021 | 623 | 134.66 to | 134.66 | 83818 | 0.00% | 1.40% to | 1.40% | 21.49% to | 21.49% |
|  VIP Index 500 - 2025 | 1082 | 98.42 to | 98.42 | 106516 | 1.13% | 1.20% to | 1.40% | 16.36% to | -31.17% |
|  VIP Index 500 - 2024 | 1138 | 84.58 to | 142.99 | 96211 | 1.28% | 1.20% to | 1.40% | 23.38% to | 108.59% |
|  VIP Index 500 - 2023 | 1286 | 68.55 to | 68.55 | 88158 | 1.22% | 1.20% to | 1.40% | 24.70% to | -26.54% |
|  VIP Index 500 - 2022 | 2042 | 54.97 to | 93.32 | 134317 | 1.33% | 1.20% to | 1.40% | -19.35% to | -19.20% |
|  VIP Index 500 - 2021 | 3044 | 68.03 to | 115.71 | 235501 | 1.26% | 1.20% to | 1.40% | 26.78% to | 27.04% |
|  **<u>MFS</u>** |  |  |  |  |  |  |  |  |  |
|  Core Equity Portfolio - 2025 | 1024 | 93.47 to | 93.47 | 95755 | 0.46% | 1.20% to | 1.20% | 11.16% to | 11.16% |
|  Core Equity Portfolio - 2024 | 1036 | 84.09 to | 84.09 | 87111 | 0.59% | 1.20% to | 1.20% | 18.65% to | 18.65% |
|  Core Equity Portfolio - 2023 | 1159 | 70.87 to | 70.87 | 82165 | 0.50% | 1.20% to | 1.20% | 21.69% to | 21.69% |
|  Core Equity Portfolio - 2022 | 1308 | 58.24 to | 58.24 | 76172 | 0.33% | 1.20% to | 1.20% | -18.26% to | -18.26% |
|  Core Equity Portfolio - 2021 | 2276 | 71.25 to | 71.25 | 162164 | 0.44% | 1.20% to | 1.20% | 23.81% to | 23.81% |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** |
|  | **Units** | **Unit Value<br>lowest to highest** | **Unit Value<br>lowest to highest** | **Net Assets** | **Investment**<br>**Income<br>Ratio\*** | **Expense Ratio<br>lowest to<br>highest\*\*** | **Expense Ratio<br>lowest to<br>highest\*\*** | **Total Return lowest to<br>highest\*\*\*** | **Total Return lowest to<br>highest\*\*\*** |
|  **<u>MFS (cont'd)</u>** |  |  |  |  |  |  |  |  |  |
|  Emerging Growth Series - 2025 | 997 | 162.27 to | 162.27 | $161837 | 0.00% | 1.20% to | 1.20% | 10.85% to | 10.85% |
|  Emerging Growth Series - 2024 | 1022 | 146.39 to | 146.39 | 149605 | 0.00% | 1.20% to | 1.20% | 29.88% to | 29.88% |
|  Emerging Growth Series - 2023 | 1054 | 112.71 to | 112.71 | 118810 | 0.00% | 1.20% to | 1.20% | 34.24% to | 34.24% |
|  Emerging Growth Series - 2022 | 1095 | 83.96 to | 83.96 | 91902 | 0.00% | 1.20% to | 1.20% | -32.45% to | -32.45% |
|  Emerging Growth Series - 2021 | 1142 | 124.30 to | 124.30 | 141989 | 0.00% | 1.20% to | 1.20% | 22.05% to | 22.05% |
|  High Yield Series - 2025 | 542 | 36.44 to | 36.44 | 19739 | 7.07% | 1.20% to | 1.20% | 7.34% to | 7.34% |
|  High Yield Series - 2024 | 626 | 33.95 to | 33.95 | 21245 | 5.78% | 1.20% to | 1.20% | 5.63% to | 5.63% |
|  High Yield Series - 2023 | 725 | 32.14 to | 32.14 | 23289 | 5.78% | 1.20% to | 1.20% | 11.06% to | 11.06% |
|  High Yield Series - 2022 | 751 | 28.94 to | 28.94 | 21729 | 5.40% | 1.20% to | 1.20% | -11.58% to | -11.58% |
|  High Yield Series - 2021 | 775 | 32.73 to | 32.73 | 25361 | 5.00% | 1.20% to | 1.20% | 2.25% to | 2.25% |
|  Research Series - 2025 | 696 | 106.20 to | 106.20 | 73954 | 0.97% | 1.20% to | 1.20% | 11.50% to | 11.50% |
|  Research Series - 2024 | 754 | 95.24 to | 95.24 | 71818 | 0.58% | 1.20% to | 1.20% | 17.44% to | 17.44% |
|  Research Series - 2023 | 878 | 81.10 to | 81.10 | 71165 | 0.49% | 1.20% to | 1.20% | 20.95% to | 20.95% |
|  Research Series - 2022 | 979 | 67.05 to | 67.05 | 65661 | 0.45% | 1.20% to | 1.20% | -18.20% to | -18.20% |
|  Research Series - 2021 | 1093 | 81.97 to | 81.97 | 89578 | 0.56% | 1.20% to | 1.20% | 23.32% to | 23.32% |
|  Income Series II - 2025 | 1676 | 25.18 to | 25.18 | 42199 | 4.24% | 1.20% to | 1.20% | 6.02% to | 6.02% |
|  Income Series II - 2024 | 1691 | 23.75 to | 23.75 | 40158 | 3.74% | 1.20% to | 1.20% | 2.02% to | 2.02% |
|  Income Series II - 2023 | 1858 | 23.28 to | 23.28 | 43260 | 3.43% | 1.20% to | 1.20% | 6.30% to | 6.30% |
|  Income Series II - 2022 | 1899 | 21.90 to | 21.90 | 41575 | 3.29% | 1.20% to | 1.20% | -14.72% to | -14.72% |
|  Income Series II - 2021 | 2110 | 25.68 to | 25.68 | 54194 | 3.26% | 1.20% to | 1.20% | -0.73% to | -0.73% |
|  **<u>Pioneer</u>** |  |  |  |  |  |  |  |  |  |
|  Equity Income VCT - 2025 | 214 | 46.58 to | 46.58 | 9951 | 1.98% | 1.20% to | 1.20% | 9.81% to | 9.81% |
|  Equity Income VCT - 2024 | 214 | 42.42 to | 42.42 | 9069 | 1.97% | 1.20% to | 1.20% | 9.61% to | 9.61% |
|  Equity Income VCT - 2023 | 214 | 38.70 to | 38.70 | 8278 | 1.63% | 1.20% to | 1.20% | 5.91% to | 5.91% |
|  Equity Income VCT - 2022 | 214 | 36.54 to | 36.54 | 7825 | 1.50% | 1.20% to | 1.20% | -9.06% to | -9.06% |
|  Equity Income VCT - 2021 | 214 | 40.18 to | 40.18 | 8611 | 1.25% | 1.20% to | 1.20% | 23.86% to | 23.86% |
|  Fund VCT - 2025 | 56 | 56.44 to | 56.44 | 3161 | 0.20% | 1.20% to | 1.20% | 21.59% to | 21.59% |
|  Fund VCT - 2024 | 61 | 46.42 to | 46.42 | 2854 | 0.44% | 1.20% to | 1.20% | 20.85% to | 20.85% |
|  Fund VCT - 2023 | 67 | 38.41 to | 38.41 | 2582 | 0.58% | 1.20% to | 1.20% | 27.06% to | 27.06% |
|  Fund VCT - 2022 | 73 | 30.23 to | 30.23 | 2213 | 0.39% | 1.20% to | 1.20% | -20.66% to | -20.66% |
|  Fund VCT - 2021 | 78 | 38.10 to | 38.10 | 2968 | 0.11% | 1.20% to | 1.20% | 26.12% to | 26.12% |
|  Mid Cap Value VCT - 2025 | 1073 | 77.03 to | 77.03 | 82617 | 2.07% | 1.20% to | 1.20% | 9.86% to | 9.86% |
|  Mid Cap Value VCT - 2024 | 1045 | 70.12 to | 70.12 | 73247 | 1.96% | 1.20% to | 1.20% | 9.60% to | 9.60% |
|  Mid Cap Value VCT - 2023 | 1147 | 63.98 to | 63.98 | 73405 | 1.85% | 1.20% to | 1.20% | 11.11% to | 11.11% |
|  Mid Cap Value VCT - 2022 | 1173 | 57.58 to | 57.58 | 67547 | 2.49% | 1.20% to | 1.20% | -6.77% to | -6.77% |
|  Mid Cap Value VCT - 2021 | 2415 | 61.76 to | 61.76 | 149175 | 0.95% | 1.20% to | 1.20% | 28.11% to | 28.11% |
|  Real Estate Shares VCT - 2025 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  Real Estate Shares VCT - 2024 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  Real Estate Shares VCT - 2023 - January 1, 2023 to April 28, 2023 |  | 51.29 to | 51.29 |  | 1.32% | 1.20% to | 1.20% | -1.40% to | -1.40% |
|  Real Estate Shares VCT - 2022 | 539 | 52.02 to | 52.02 | 28041 | 1.89% | 1.20% to | 1.20% | -31.67% to | -31.67% |
|  Real Estate Shares VCT - 2021 | 563 | 76.13 to | 76.13 | 42866 | 1.07% | 1.20% to | 1.20% | 39.36% to | 39.36% |
|  **<u>DWS</u>** |  |  |  |  |  |  |  |  |  |
|  Bond - 2025 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  Bond - 2024 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  Bond - 2023 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  Bond - 2022 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  Bond - 2021 - January 1, 2021 to October 28, 2021 |  | 22.51 to | 22.51 |  | 4.09% | 1.40% to | 1.40% | -1.44% to | -1.44% |
|  Global Opportunities - 2025 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  Global Opportunities - January 1, 2024 to June 17, 2024 |  | 48.81 to | 48.81 |  | 2.22% | 1.20% to | 1.20% | -0.87% to | -0.87% |
|  Global Opportunities - 2023 | 62 | 49.24 to | 49.24 | 3059 | 0.62% | 1.20% to | 1.20% | 22.73% to | 22.73% |
|  Global Opportunities - 2022 | 76 | 40.12 to | 40.12 | 3065 | 0.22% | 1.20% to | 1.20% | -25.14% to | -25.14% |
|  Global Opportunities - 2021 | 76 | 53.59 to | 53.59 | 4074 | 0.08% | 1.20% to | 1.20% | 13.27% to | 13.27% |
|  Core Equity VIP - 2025 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  Core Equity VIP - January 1, 2024 to June 17, 2024 |  | 55.49 to | 55.49 |  | 1.08% | 1.20% to | 1.20% | 14.01% to | 14.01% |
|  Core Equity VIP - 2023 | 282 | 48.67 to | 48.67 | 13747 | 0.56% | 1.20% to | 1.20% | 23.65% to | 23.65% |
|  Core Equity VIP - 2022 | 409 | 39.36 to | 39.36 | 16094 | 0.44% | 1.20% to | 1.20% | -16.72% to | -16.72% |
|  Core Equity VIP - 2021 | 474 | 47.26 to | 47.26 | 22407 | 0.37% | 1.20% to | 1.20% | 23.43% to | 23.43% |
|  International - 2025 | 1337 | 29.59 to | 29.59 | 39547 | 2.75% | 1.20% to | 1.20% | 43.15% to | 43.15% |
|  International - 2024 | 1543 | 20.67 to | 20.67 | 31891 | 3.49% | 1.20% to | 1.20% | 1.22% to | 1.22% |
|  International - 2023 | 1813 | 20.42 to | 20.42 | 37011 | 3.07% | 1.20% to | 1.20% | 17.56% to | 17.56% |
|  International - 2022 | 2162 | 17.37 to | 17.37 | 37559 | 3.04% | 1.20% to | 1.20% | -14.26% to | -14.26% |
|  International - 2021 | 2362 | 20.26 to | 20.26 | 47843 | 2.47% | 1.20% to | 1.20% | 7.94% to | 7.94% |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **At December 31** | **At December 31** | **At December 31** | **At December 31** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** | **For the years ended December 31\*\*\*\*** |
|  | **Units** | **Unit Value**<br>**lowest to highest** | **Unit Value**<br>**lowest to highest** | **Net Assets** | **Investment**<br>**Income**<br>**Ratio\*** | **Expense Ratio**<br>**lowest to<br>highest\*\*** | **Expense Ratio**<br>**lowest to<br>highest\*\*** | **Total Return**<br>**lowest to highest\*\*\*** | **Total Return**<br>**lowest to highest\*\*\*** |
|  **<u>DWS (cont'd)</u>** |  |  |  |  |  |  |  |  |  |
|  Money Market - 2025 | 5388 | 1.35 to | 1.35 | $7272 | 3.90% | 1.40% to | 1.40% | 2.43% to | 2.43% |
|  Money Market - 2024 | 5392 | 1.32 to | 1.32 | 7098 | 4.81% | 1.40% to | 1.40% | 3.13% to | 3.13% |
|  Money Market - 2023 | 5396 | 1.28 to | 1.28 | 6866 | 4.62% | 1.40% to | 1.40% | 4.07% to | 4.07% |
|  Money Market - 2022 | 5401 | 1.23 to | 1.23 | 6655 | 1.11% | 1.40% to | 1.40% | -0.81% to | -0.81% |
|  Money Market - 2021 - October 28, 2021 to December 31, 2021 | 5407 | 1.24 to | 1.24 | 6682 | 0.00% | 1.40% to | 1.40% | 0.00% to | 0.00% |
|  Small Cap Index VIP - 2025 | 163 | 45.68 to | 45.68 | 7468 | 1.28% | 1.20% to | 1.20% | 11.29% to | 11.29% |
|  Small Cap Index VIP - 2024 | 163 | 41.05 to | 41.05 | 6711 | 1.15% | 1.20% to | 1.20% | 9.82% to | 9.82% |
|  Small Cap Index VIP - 2023 | 163 | 37.38 to | 37.38 | 6111 | 1.07% | 1.20% to | 1.20% | 15.37% to | 15.37% |
|  Small Cap Index VIP - 2022 | 163 | 32.40 to | 32.40 | 5297 | 0.86% | 1.20% to | 1.20% | -21.59% to | -21.59% |
|  Small Cap Index VIP - 2021 | 163 | 41.32 to | 41.32 | 6755 | 0.88% | 1.20% to | 1.20% | 13.11% to | 13.11% |
| **<u>T. Rowe Price</u>** |  |  |  |  |  |  |  |  |  |
|  Equity Income - 2025 | 4883 | 97.99 to | 97.99 | 478544 | 1.63% | 1.20% to | 1.40% | 12.99% to | 2.11% |
|  Equity Income - 2024 | 5137 | 86.73 to | 95.97 | 445628 | 1.87% | 1.20% to | 1.40% | 10.36% to | 10.13% |
|  Equity Income - 2023 | 5468 | 78.59 to | 87.14 | 429857 | 2.09% | 1.20% to | 1.40% | 8.24% to | 8.01% |
|  Equity Income - 2022 | 8104 | 72.61 to | 80.68 | 593151 | 1.85% | 1.20% to | 1.40% | -4.69% to | -4.50% |
|  Equity Income - 2021 | 9478 | 76.03 to | 84.65 | 725877 | 1.63% | 1.20% to | 1.40% | 23.79% to | 24.05% |
|  International Stock - 2025 | 4398 | 33.35 to | 33.35 | 146661 | 1.99% | 1.20% to | 1.20% | 21.21% to | 17.00% |
|  International Stock - 2024 | 4550 | 27.51 to | 28.50 | 129682 | 0.91% | 1.20% to | 1.20% | -1.54% to | 2.00% |
|  International Stock - 2023 | 5286 | 27.94 to | 27.94 | 147691 | 0.98% | 1.20% to | 1.20% | 14.84% to | 14.84% |
|  International Stock - 2022 | 5723 | 24.33 to | 24.33 | 139235 | 0.68% | 1.20% to | 1.20% | -16.82% to | -16.82% |
|  International Stock - 2021 | 7775 | 29.25 to | 29.25 | 227398 | 0.61% | 1.20% to | 1.20% | 0.10% to | 0.10% |
|  Limited-Term Bond - 2025 | 1653 | 19.05 to | 19.05 | 31489 | 4.26% | 1.20% to | 1.20% | 4.46% to | 4.28% |
|  Limited-Term Bond - 2024 | 1653 | 18.24 to | 18.27 | 30150 | 4.09% | 1.20% to | 1.20% | 3.70% to | 3.87% |
|  Limited-Term Bond - 2023 | 2364 | 17.59 to | 17.59 | 41582 | 3.06% | 1.20% to | 1.20% | 3.65% to | 3.65% |
|  Limited-Term Bond - 2022 | 2919 | 16.97 to | 16.97 | 49524 | 1.89% | 1.20% to | 1.20% | -5.62% to | -5.62% |
|  Limited-Term Bond - 2021 | 3390 | 17.98 to | 17.98 | 60969 | 1.37% | 1.20% to | 1.20% | -1.10% to | -1.10% |
|  New America Growth - 2025 | 1063 | 184.99 to | 199.29 | 199362 | 0.00% | 1.20% to | 1.40% | 14.91% to | 14.68% |
|  New America Growth - 2024 | 1120 | 160.98 to | 173.78 | 182788 | 0.07% | 1.20% to | 1.40% | 23.64% to | 23.40% |
|  New America Growth - 2023 | 1237 | 130.20 to | 140.83 | 163199 | 0.21% | 1.20% to | 1.40% | 27.43% to | 27.16% |
|  New America Growth - 2022 | 1844 | 102.17 to | 110.75 | 194715 | 0.00% | 1.20% to | 1.40% | -22.61% to | -22.45% |
|  New America Growth - 2021 | 1932 | 131.75 to | 143.10 | 263067 | 0.00% | 1.20% to | 1.40% | 19.11% to | 19.35% |
|  Moderate Allocation - 2025 | 2642 | 71.55 to | 71.55 | 189075 | 2.24% | 1.20% to | 1.20% | 13.13% to | 13.13% |
|  Moderate Allocation - 2024 | 2841 | 63.25 to | 63.25 | 179716 | 2.28% | 1.20% to | 1.20% | 8.73% to | 8.73% |
|  Moderate Allocation - 2023 | 3235 | 58.17 to | 58.17 | 188196 | 2.33% | 1.20% to | 1.20% | 13.97% to | 13.97% |
|  Moderate Allocation - 2022 | 4191 | 51.04 to | 51.04 | 213916 | 1.46% | 1.20% to | 1.20% | -19.29% to | -19.29% |
|  Moderate Allocation - 2021 | 4666 | 63.24 to | 63.24 | 295048 | 1.03% | 1.20% to | 1.20% | 8.75% to | 8.75% |
|  **<u>Morgan Stanley</u>** |  |  |  |  |  |  |  |  |  |
|  VIF Emerging Markets Equity - 2025 | 797 | 35.65 to | 35.65 | 28428 | 0.40% | 1.20% to | 1.20% | 31.40% to | 31.40% |
|  VIF Emerging Markets Equity - 2024 | 871 | 27.13 to | 27.13 | 23629 | 1.38% | 1.20% to | 1.20% | 6.52% to | 6.52% |
|  VIF Emerging Markets Equity - 2023 | 860 | 25.47 to | 25.47 | 21900 | 1.55% | 1.20% to | 1.20% | 10.59% to | 10.59% |
|  VIF Emerging Markets Equity - 2022 | 846 | 23.03 to | 23.03 | 19472 | 0.52% | 1.20% to | 1.20% | -25.97% to | -25.97% |
|  VIF Emerging Markets Equity - 2021 | 1353 | 31.11 to | 31.11 | 42079 | 0.82% | 1.20% to | 1.20% | 1.77% to | 1.77% |
|  VIF Core Plus Fixed Income - 2025 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  VIF Core Plus Fixed Income - 2024 |  | — to |  |  | 0.00% | 0.00% to | 0.00% | 0.00% to | 0.00% |
|  VIF Core Plus Fixed Income - 2023 - January 1, 2023 to July 28, 2023 |  | 18.98 to | 18.98 |  | 8.65% | 1.20% to | 1.20% | 1.93% to | 1.93% |
|  VIF Core Plus Fixed Income - 2022 | 4006 | 18.62 to | 18.62 | 74585 | 4.78% | 1.20% to | 1.20% | -15.36% to | -15.36% |
|  VIF Core Plus Fixed Income - 2021 | 6740 | 22.00 to | 22.00 | 148251 | 4.10% | 1.20% to | 1.20% | -1.48% to | -1.48% |

---

\* These ratios represent the dividends, excluding distributions of capital gains, received by the subaccount from the underlying portfolio, net of management fees assessed by the portfolio manager, divided by the average net assets. These ratios exclude those expenses that are assessed against contract owner accounts either through reductions in the unit values or the redemption of units. The recognition of investment income by the subaccount is affected by the timing of the distribution of dividends by the underlying portfolio in which the subaccount invests. 

\*\* These ratios represent the annualized contract expenses of the Separate Account for each year 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 portfolio are excluded. 

\*\*\* These ratios represent the total return for the period indicated, including changes in the value of the underlying portfolio, and expenses assessed through the reduction of unit values. These ratios do not include any expenses assessed through the redemption of units. Investment options with a date notation indicate the effective date of that investment option in the Separate Account. The total return is calculated for each year indicated or from the effective date through the end of the reporting year or liquidation date. 

\*\*\*\* Funds listed with date ranges represent partial year investments in funds. Unit values displayed represent unit value at disposition value.