# EDGAR Filing Document

**Accession Number:** 0001223662
**File Stem:** 0001104659-26-052697
**Filing Date:** 2026-4
**Character Count:** 92082
**Document Hash:** aed0ae5199208fef4611d37dc05816d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-052697.hdr.sgml**: 20260430

**ACCESSION NUMBER**: 0001104659-26-052697

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260430

**DATE AS OF CHANGE**: 20260430

**EFFECTIVENESS DATE**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COUNTRY INVESTORS VARIABLE ANNUITY ACCOUNT
- **CENTRAL INDEX KEY:** 0001223662

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** IL

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21330
- **FILM NUMBER:** 26923537

**BUSINESS ADDRESS:**
- **STREET 1:** 1701 N TOWANDA AVENUE
- **CITY:** BLOOMINGTON
- **STATE:** IL
- **ZIP:** 617022000
- **BUSINESS PHONE:** 3098213000

**MAIL ADDRESS:**
- **STREET 1:** 1701 N TOWANDA AVENUE
- **CITY:** BLOOMINGTON
- **STATE:** IL
- **ZIP:** 617022000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COUNTRY INVESTORS VARIABLE ANNUNITY ACCOUNT
- **DATE OF NAME CHANGE:** 20030319

## Series and Classes Contracts Data

### COUNTRY INVESTORS VARIABLE ANNUITY ACCOUNT (Series ID: S000007216)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000019812 | Individual Flexible Premium Deferred Variable Annuity Contract |  |
| C000069502 | 2008 Individual Flexible Premium Deferred Annuity Contract     |  |

**Report of Independent Registered Public Accounting Firm**

The Board of Directors and Contract Owners of

COUNTRY Investors Life Assurance Company and

COUNTRY Investors Variable Annuity Account

***Opinion on the Financial Statements***

We have audited the accompanying statements of assets and liabilities of each of the subaccounts listed in the Appendix that comprise COUNTRY Investors Variable Annuity Account (the Accounts) as of December 31, 2025, and the related statements of operations for the year then ended, and the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Accounts as of December 31, 2025, and the results of their operations for the year then ended and changes in net assets for each of the years in the two-year period then ended, in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Accounts' management. Our responsibility is to express an opinion on the Accounts' 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 Accounts 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 include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Such procedures also included confirmation of securities owned as of December 31, 2025, by correspondence with the fund companies or their transfer agents, as applicable. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Forvis Mazars LLP

We have served as the Accounts' auditor since 2024.

**West Des Moines, Iowa**

**April 30, 2026**

***Appendix***

Subaccounts comprising COUNTRY Investors Variable Annuity Account

---

| |
|:---|
| **Subaccounts** |
| BNY Mellon VIF Appreciation Portfolio - Initial Shares |
| BNY Mellon VIF Growth & Income Portfolio - Initial Shares |
| BNY Mellon VIF Small Cap Portfolio - Initial Shares |
| CVT EAFE International Index Portfolio - Class F |
| CVT Russell 2000® Small Cap Index Portfolio |
| CVT Russell 2000® Small Cap Index Portfolio - Class F |
| CVT S&P MidCap 400 Index Portfolio |
| CVT S&P MidCap 400 Index Portfolio - Class F |
| DWS Global Small Cap VIP - Class A |
| Federated Hermes Government Money Fund II - Service Shares |
| Federated Hermes Managed Volatility Fund II - Primary Shares |
| Federated Hermes Quality Bond Fund II - Primary Shares |
| Fidelity® VIP Contrafund® Portfolio - Initial Class |
| Fidelity® VIP Contrafund® Portfolio - Service Class 2 |
| Fidelity® VIP Growth & Income Portfolio - Initial Class |
| Fidelity® VIP Growth Portfolio - Initial Class |
| Fidelity® VIP Growth Portfolio - Service Class 2 |
| Fidelity® VIP High Income Portfolio - Service Class 2 |
| Fidelity® VIP Index 500 Portfolio - Initial Class |
| Fidelity® VIP Index 500 Portfolio - Service Class 2 |
| Fidelity® VIP Investment Grade Bond Portfolio - Initial Class |
| Fidelity® VIP Mid Cap Portfolio - Service Class 2 |
| Fidelity® VIP Overseas Portfolio - Initial Class |
| Fidelity® VIP Real Estate Portfolio - Service Class 2 |
| Franklin Global Real Estate VIP Fund - Class 2 |
| Franklin Mutual Shares VIP Fund - Class 2 |
| Franklin Small Cap Value VIP Fund - Class 2 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 |
| Franklin U.S. Government Securities VIP Fund - Class 2 |
| Templeton Global Bond VIP Fund - Class 2 |
| Templeton Growth VIP Fund - Class 2 |
| LVIP American Century Capital Appreciation Fund – Standard II |
| LVIP American Century Inflation Protection Fund – Standard II |
| LVIP American Century Ultra Fund – Standard II |
| LVIP JPMorgan Mid Cap Value Fund - Standard |
| LVIP JPMorgan Small Cap Core Fund - Service |
| LVIP JPMorgan Small Cap Core Fund - Standard |
| T. Rowe Price All-Cap Opportunities Portfolio |
| T. Rowe Price Equity Income Portfolio |
| T. Rowe Price Moderate Allocation Portfolio |
| T. Rowe Price International Stock Portfolio |

---

**COUNTRY Investors Variable Annuity Account**

**Statements of Assets and Liabilities**

**December 31, 2025**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Net assets** | **Net assets** | **Net assets** | **Investments in mutual funds** | **Investments in mutual funds** | | |
| <br>**Subaccount** |<br>**Investments in**<br>**shares of**<br>**mutual funds,**<br>**at fair value** |<br>**Accumulation**<br>**units** |<br>**Contracts in**<br>**annuitization**<br>**period** |<br>**Total net**<br>**assets** |<br><br>**Cost** |<br><br>**Shares owned** |<br><br>**Accumulation**<br>**units outstanding** |<br>**Annuitized**<br>**units**<br>**outstanding** |
| BNY Mellon VIF Appreciation Portfolio - Initial Shares | $32216 | $32216 | $- | $32216 | $31529 | 956.80 | 607.84 |  |
| BNY Mellon VIF Growth & Income Portfolio - Initial Shares | 198382 | 198382 |  | 198382 | 153820 | 4986.97 | 2934.51 |  |
| BNY Mellon VIF Small Cap Portfolio - Initial Shares | 147415 | 147415 |  | 147415 | 135337 | 3071.15 | 5606.65 |  |
| CVT EAFE International Index Portfolio - Class F | 1317005 | 1317005 |  | 1317005 | 969961 | 10888.84 | 45432.05 |  |
| CVT Russell 2000® Small Cap Index Portfolio | 380763 | 376484 | 4279 | 380763 | 328418 | 4201.75 | 9493.08 | 107.91 |
| CVT Russell 2000® Small Cap Index Portfolio - Class F | 17288 | 17288 |  | 17288 | 14466 | 194.01 | 295.28 |  |
| CVT S&P MidCap 400 Index Portfolio | 198898 | 198898 |  | 198898 | 178319 | 1560.84 | 3724.14 |  |
| CVT S&P MidCap 400 Index Portfolio - Class F | 14320 | 14320 |  | 14320 | 12749 | 113.16 | 270.93 |  |
| DWS Global Small Cap VIP - Class A | 28048 | 28048 |  | 28048 | 25394 | 2424.21 | 629.81 |  |
| Federated Hermes Government Money Fund II - Service Shares | 410348 | 410348 |  | 410348 | 410348 | 410348.34 | 41062.84 |  |
| Federated Hermes Managed Volatility Fund II - Primary Shares | 315267 | 315267 |  | 315267 | 289673 | 30314.12 | 14533.09 |  |
| Federated Hermes Quality Bond Fund II - Primary Shares | 866328 | 866328 |  | 866328 | 867009 | 81883.53 | 67755.35 |  |
| Fidelity® VIP Contrafund® Portfolio - Initial Class | 3547573 | 3547573 |  | 3547573 | 2632449 | 59234.81 | 39857.24 |  |
| Fidelity® VIP Contrafund® Portfolio - Service Class 2 | 352758 | 352758 |  | 352758 | 310864 | 6203.97 | 3568.97 |  |
| Fidelity® VIP Growth & Income Portfolio - Initial Class | 452853 | 452853 |  | 452853 | 300771 | 13578.82 | 7661.67 |  |
| Fidelity® VIP Growth Portfolio - Initial Class | 782024 | 765705 | 16319 | 782024 | 684349 | 8002.70 | 8929.92 | 190.31 |
| Fidelity® VIP Growth Portfolio - Service Class 2 | 103726 | 103726 |  | 103726 | 96263 | 1116.78 | 927.69 |  |
| Fidelity® VIP High Income Portfolio - Service Class 2 | 10267 | 10267 |  | 10267 | 10017 | 2227.20 | 362.67 |  |
| Fidelity® VIP Index 500 Portfolio - Initial Class | 3506099 | 3492795 | 13304 | 3506099 | 1501152 | 5311.23 | 50634.14 | 192.86 |
| Fidelity® VIP Index 500 Portfolio - Service Class 2 | 2382264 | 2382264 |  | 2382264 | 1189286 | 3663.84 | 27516.84 |  |
| Fidelity® VIP Investment Grade Bond Portfolio - Initial Class | 4927578 | 4919816 | 7762 | 4927578 | 5537054 | 433765.69 | 392841.29 | 619.76 |
| Fidelity® VIP Mid Cap Portfolio - Service Class 2 | 2477901 | 2477901 |  | 2477901 | 2379099 | 70454.96 | 41603.10 |  |
| Fidelity® VIP Overseas Portfolio - Initial Class | 753147 | 753147 |  | 753147 | 682404 | 27367.27 | 25034.62 |  |
| Fidelity® VIP Real Estate Portfolio - Service Class 2 | 411444 | 411444 |  | 411444 | 415985 | 23619.08 | 8923.96 |  |
| Franklin Global Real Estate VIP Fund - Class 2 | 408250 | 408250 |  | 408250 | 420527 | 31259.60 | 24659.18 |  |
| Franklin Mutual Shares VIP Fund - Class 2 | 77339 | 77339 |  | 77339 | 75543 | 4803.64 | 2483.16 |  |
| Franklin Small Cap Value VIP Fund - Class 2 | 998092 | 998092 |  | 998092 | 902393 | 71960.46 | 20966.57 |  |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | 149397 | 149397 |  | 149397 | 152288 | 10440.01 | 3288.76 |  |
| Franklin U.S. Government Securities VIP Fund - Class 2 | 55742 | 55742 |  | 55742 | 59076 | 5308.81 | 4330.75 |  |
| Templeton Global Bond VIP Fund - Class 2 | 8609 | 8609 |  | 8609 | 9419 | 653.65 | 710.73 |  |
| Templeton Growth VIP Fund - Class 2 | 149257 | 149257 |  | 149257 | 124331 | 10548.18 | 5919.25 |  |
| LVIP American Century Capital Appreciation Fund – Standard II | 113765 | 113765 |  | 113765 | 112831 | 7504.28 | 2455.27 |  |
| LVIP American Century Inflation Protection Fund – Standard II | 10945 | 10945 |  | 10945 | 12405 | 1212.43 | 765.18 |  |
| LVIP American Century Ultra Fund – Standard II | 219923 | 219923 |  | 219923 | 163041 | 6982.58 | 2742.59 |  |
| LVIP JPMorgan Mid Cap Value Fund - Standard | 419686 | 411709 | 7977 | 419686 | 471936 | 46569.66 | 7918.79 | 153.43 |

---

*See accompanying notes, including note 6 which includes per unit information.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Assets and Liabilities (continued)**

**December 31, 2025**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Net assets** | **Net assets** | **Net assets** | **Investments in mutual funds** | **Investments in mutual funds** | | |
| <br>**Subaccount** |<br>**Investments in**<br>**shares of**<br>**mutual funds,**<br>**at fair value** |<br>**Accumulation**<br>**units** |<br>**Contracts in**<br>**annuitization**<br>**period** |<br>**Total net**<br>**assets** |<br><br>**Cost** |<br><br>**Shares owned** |<br><br>**Accumulation**<br>**units outstanding** |<br>**Annuitized**<br>**units**<br>**outstanding** |
| LVIP JPMorgan Small Cap Core Fund - Service | $335904 | $335904 | $- | $335904 | $305322 | 15543.93 | 5870.22 |  |
| LVIP JPMorgan Small Cap Core Fund - Standard | 239147 | 239147 |  | 239147 | 212310 | 10897.09 | 5278.06 |  |
| T. Rowe Price All-Cap Opportunities Portfolio | 5119768 | 5119768 |  | 5119768 | 4559860 | 129091.48 | 50679.87 |  |
| T. Rowe Price Equity Income Portfolio | 4262159 | 4262159 |  | 4262159 | 3954677 | 147428.54 | 102151.99 |  |
| T. Rowe Price Moderate Allocation Portfolio | 453067 | 453067 |  | 453067 | 419835 | 20199.13 | 13055.34 |  |
| T. Rowe Price International Stock Portfolio | 2071040 | 2071040 |  | 2071040 | 1991825 | 130254.12 | 76151.89 |  |

---

*See accompanying notes, including note 6 which includes per unit information.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Operations**

**Year Ended December 31, 2025**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Realized gain (loss) on** | **Realized gain (loss) on** | | | |
| |<br>**Income** |<br>**Expenses** | | **investments** | **investments** | | | |
| <br>**Subaccount** |<br><br>**Dividends** |<br><br>**Mortality and**<br>**expense risk** |<br><br>**Net**<br>**investment**<br>**income (loss)** |<br>**Realized gain**<br>**(loss) on sale**<br>**of fund shares** |<br><br>**Realized gain**<br>**distributions** |<br><br>**Net realized**<br>**gain (loss) on**<br>**investments** |<br>**Change in**<br>**unrealized**<br>**appreciation/**<br>**depreciation of**<br>**investments** |<br><br>**Net increase in**<br>**net assets from**<br>**operations** |
| BNY Mellon VIF Appreciation Portfolio - Initial Shares | $172 | $(573) | $(401) | $(4727) | $7892 | $3165 | $394 | $3158 |
| BNY Mellon VIF Growth & Income Portfolio - Initial Shares | 825 | (2185) | (1360) | 7490 | 14101 | 21591 | 6948 | 27179 |
| BNY Mellon VIF Small Cap Portfolio - Initial Shares | 936 | (1685) | (749) | (3739) |  | (3739) | 18325 | 13837 |
| CVT EAFE International Index Portfolio - Class F | 31323 | (15509) | 15814 | 42861 |  | 42861 | 265305 | 323980 |
| CVT Russell 2000® Small Cap Index Portfolio | 5908 | (4418) | 1490 | 13171 | 19223 | 32394 | 5565 | 39449 |
| CVT Russell 2000® Small Cap Index Portfolio - Class F | 268 | (189) | 79 | (160) | 873 | 713 | 1109 | 1901 |
| CVT S&P MidCap 400 Index Portfolio | 2145 | (2298) | (153) | 11175 | 12911 | 24086 | (13038) | 10895 |
| CVT S&P MidCap 400 Index Portfolio - Class F | 150 | (160) | (10) | 38 | 906 | 944 | (144) | 790 |
| DWS Global Small Cap VIP - Class A | 297 | (298) | (1) | (93) | 1463 | 1370 | 3190 | 4559 |
| Federated Hermes Government Money Fund II - Service Shares | 15867 | (5157) | 10710 |  |  |  |  | 10710 |
| Federated Hermes Managed Volatility Fund II - Primary Shares | 8840 | (3665) | 5175 | (1633) | 5393 | 3760 | 8530 | 17465 |
| Federated Hermes Quality Bond Fund II - Primary Shares | 30343 | (10564) | 19779 | (8860) |  | (8860) | 38772 | 49691 |
| Fidelity® VIP Contrafund® Portfolio - Initial Class | 4629 | (39306) | (34677) | 241978 | 529886 | 771864 | (121042) | 616145 |
| Fidelity® VIP Contrafund® Portfolio - Service Class 2 |  | (4194) | (4194) | 67745 | 56813 | 124558 | (57634) | 62730 |
| Fidelity® VIP Growth & Income Portfolio - Initial Class | 6509 | (4927) | 1582 | 8398 | 39244 | 47642 | 27176 | 76400 |
| Fidelity® VIP Growth Portfolio - Initial Class | 2251 | (9309) | (7058) | 36760 | 99927 | 136687 | (27927) | 101702 |
| Fidelity® VIP Growth Portfolio - Service Class 2 | 49 | (1142) | (1093) | 524 | 13244 | 13768 | (490) | 12185 |
| Fidelity® VIP High Income Portfolio - Service Class 2 | 665 | (121) | 544 | 43 |  | 43 | 293 | 880 |
| Fidelity® VIP Index 500 Portfolio - Initial Class | 37655 | (38914) | (1259) | 230832 | 16807 | 247639 | 259378 | 505758 |
| Fidelity® VIP Index 500 Portfolio - Service Class 2 | 21321 | (27880) | (6559) | 272682 | 12939 | 285621 | 45580 | 324642 |
| Fidelity® VIP Investment Grade Bond Portfolio - Initial Class | 174501 | (59469) | 115032 | (85486) |  | (85486) | 258137 | 287683 |
| Fidelity® VIP Mid Cap Portfolio - Service Class 2 | 5800 | (28094) | (22294) | 23831 | 283093 | 306924 | (61571) | 223059 |
| Fidelity® VIP Overseas Portfolio - Initial Class | 11764 | (9112) | 2652 | 28408 | 65618 | 94026 | 33782 | 130460 |
| Fidelity® VIP Real Estate Portfolio - Service Class 2 | 7940 | (5063) | 2877 | (5477) | 186 | (5291) | 8030 | 5616 |
| Franklin Global Real Estate VIP Fund - Class 2 | 6088 | (5143) | 945 | (15457) |  | (15457) | 42915 | 28403 |
| Franklin Mutual Shares VIP Fund - Class 2 | 1700 | (973) | 727 | (2003) | 8377 | 6374 | 528 | 7629 |
| Franklin Small Cap Value VIP Fund - Class 2 | 10379 | (11571) | (1192) | (24952) | 80946 | 55994 | 3185 | 57987 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 |  | (1833) | (1833) | (5482) | 8515 | 3033 | 310 | 1510 |
| Franklin U.S. Government Securities VIP Fund - Class 2 | 2063 | (762) | 1301 | (8839) |  | (8839) | 10835 | 3297 |
| Templeton Global Bond VIP Fund - Class 2 |  | (98) | (98) | (206) |  | (206) | 1395 | 1091 |
| Templeton Growth VIP Fund - Class 2 | 1188 | (1614) | (426) | (1152) | 10195 | 9043 | 18977 | 27594 |

---

*See accompanying notes.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Operations (continued)**

**Year Ended December 31, 2025**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Realized gain (loss) on** | **Realized gain (loss) on** | | | |
| |<br>**Income** |<br>**Expenses** | | **investments** | **investments** | | | |
| <br>**Subaccount** |<br><br>**Dividends** |<br><br>**Mortality and**<br>**expense risk** |<br><br>**Net**<br>**investment**<br>**income (loss)** |<br>**Realized gain**<br>**(loss) on sale**<br>**of fund shares** |<br><br>**Realized gain**<br>**distributions** |<br><br>**Net realized**<br>**gain (loss) on**<br>**investments** |<br>**Change in**<br>**unrealized**<br>**appreciation/**<br>**depreciation of**<br>**investments** |<br><br>**Net increase in**<br>**net assets from**<br>**operations** |
| LVIP American Century Capital Appreciation Fund – Standard II | $- | $(1354) | $(1354) | $1184 | $18296 | $19480 | $(11810) | $6316 |
| LVIP American Century Inflation Protection Fund – Standard II | 857 | (179) | 678 | (437) |  | (437) | 627 | 868 |
| LVIP American Century Ultra Fund – Standard II |  | (3066) | (3066) | 32833 | 19855 | 52688 | (22292) | 27330 |
| LVIP JPMorgan Mid Cap Value Fund - Standard | 4642 | (4944) | (302) | (787) | 44989 | 44202 | (29868) | 14032 |
| LVIP JPMorgan Small Cap Core Fund - Service | 1372 | (3889) | (2517) | 10294 | 26457 | 36751 | (11389) | 22845 |
| LVIP JPMorgan Small Cap Core Fund - Standard | 1489 | (2884) | (1395) | (4807) | 20179 | 15372 | 7857 | 21834 |
| T. Rowe Price All-Cap Opportunities Portfolio |  | (59098) | (59098) | 112826 | 561383 | 674209 | 48003 | 663114 |
| T. Rowe Price Equity Income Portfolio | 68432 | (50252) | 18180 | 92383 | 405040 | 497423 | (16174) | 499429 |
| T. Rowe Price Moderate Allocation Portfolio | 9716 | (5097) | 4619 | 329 | 19341 | 19670 | 28539 | 52828 |
| T. Rowe Price International Stock Portfolio | 38846 | (24986) | 13860 | (33442) | 170615 | 137173 | 169158 | 320191 |

---

*See accompanying notes.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Changes in Net Assets**

**Year Ended December 31, 2025**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Operations** | **Operations** | **Operations** | | **Contract transactions** | **Contract transactions** | **Contract transactions** | **Contract transactions** | | | |
| <br>**Subaccount** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2024** |<br><br>**Net**<br>**investment**<br>**income**<br>**(loss)** |<br><br>**Net realized**<br>**gain (loss)**<br>**on**<br>**investments** |<br>**Change in**<br>**unrealized**<br>**appreciation/**<br>**depreciation**<br>**of**<br>**investments** |<br><br><br>**Net increase**<br>**in net assets**<br>**from**<br>**operations** |<br><br><br>**Transfers**<br>**of net**<br>**premiums** |<br><br>**Transfers of**<br>**surrenders**<br>**and death**<br>**benefits** |<br><br>**Transfers of**<br>**administrative**<br>**and other**<br>**charges** | **Transfers**<br>**between**<br>**subaccounts,**<br>**including**<br>**Declared**<br>**Interest**<br>**Option**<br>**account** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**contract**<br>**transactions** |<br><br><br>**Total**<br>**increase**<br>**(decrease) in**<br>**net assets** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2025** |
| BNY Mellon VIF Appreciation Portfolio - Initial Shares | $56334 | $(401) | $3165 | $394 | $3158 | $95 | $(27574) | $(73) | $276 | $(27276) | $(24118) | $32216 |
| BNY Mellon VIF Growth & Income Portfolio - Initial Shares | 195753 | (1360) | 21591 | 6948 | 27179 | 400 | (25885) | (110) | 1045 | (24550) | 2629 | 198382 |
| BNY Mellon VIF Small Cap Portfolio - Initial Shares | 149181 | (749) | (3739) | 18325 | 13837 | 1923 | (18888) | (133) | 1495 | (15603) | (1766) | 147415 |
| CVT EAFE International Index Portfolio - Class F | 1276230 | 15814 | 42861 | 265305 | 323980 | 7026 | (240772) | (2560) | (46899) | (283205) | 40775 | 1317005 |
| CVT Russell 2000® Small Cap Index Portfolio | 393608 | 1490 | 32394 | 5565 | 39449 | 6399 | (62066) | 160 | 3213 | (52294) | (12845) | 380763 |
| CVT Russell 2000® Small Cap Index Portfolio - Class F | 15171 | 79 | 713 | 1109 | 1901 |  |  | (46) | 262 | 216 | 2117 | 17288 |
| CVT S&P MidCap 400 Index Portfolio | 211103 | (153) | 24086 | (13038) | 10895 | 4412 | (29708) | (131) | 2327 | (23100) | (12205) | 198898 |
| CVT S&P MidCap 400 Index Portfolio - Class F | 13127 | (10) | 944 | (144) | 790 |  |  | (3) | 406 | 403 | 1193 | 14320 |
| DWS Global Small Cap VIP - Class A | 23746 | (1) | 1370 | 3190 | 4559 |  | (323) | (34) | 100 | (257) | 4302 | 28048 |
| Federated Hermes Government Money Fund II - Service Shares | 454688 | 10710 |  |  | 10710 | 6907 | (64523) | (489) | 3055 | (55050) | (44340) | 410348 |
| Federated Hermes Managed Volatility Fund II - Primary Shares | 323490 | 5175 | 3760 | 8530 | 17465 | 10230 | (40892) | (315) | 5289 | (25688) | (8223) | 315267 |
| Federated Hermes Quality Bond Fund II - Primary Shares | 908503 | 19779 | (8860) | 38772 | 49691 | 13452 | (104551) | (558) | (209) | (91866) | (42175) | 866328 |
| Fidelity® VIP Contrafund® Portfolio - Initial Class | 3278432 | (34677) | 771864 | (121042) | 616145 | 24815 | (342605) | (3405) | (25809) | (347004) | 269141 | 3547573 |
| Fidelity® VIP Contrafund® Portfolio - Service Class 2 | 361724 | (4194) | 124558 | (57634) | 62730 |  | (69700) | (164) | (1832) | (71696) | (8966) | 352758 |
| Fidelity® VIP Growth & Income Portfolio - Initial Class | 383442 | 1582 | 47642 | 27176 | 76400 | 1230 | (5459) | (376) | (2384) | (6989) | 69411 | 452853 |
| Fidelity® VIP Growth Portfolio - Initial Class | 751625 | (7058) | 136687 | (27927) | 101702 | 890 | (73466) | 460 | 813 | (71303) | 30399 | 782024 |

---

*See accompanying notes.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Changes in Net Assets (continued)**

**Year Ended December 31, 2025**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Operations** | **Operations** | **Operations** | | **Contract transactions** | **Contract transactions** | **Contract transactions** | **Contract transactions** | | | |
| <br>**Subaccount** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2024** |<br><br>**Net**<br>**investment**<br>**income**<br>**(loss)** |<br><br>**Net realized**<br>**gain (loss)**<br>**on**<br>**investments** |<br>**Change in**<br>**unrealized**<br>**appreciation/**<br>**depreciation**<br>**of**<br>**investments** |<br><br><br>**Net increase**<br>**in net assets**<br>**from**<br>**operations** |<br><br><br>**Transfers**<br>**of net**<br>**premiums** |<br><br>**Transfers of**<br>**surrenders**<br>**and death**<br>**benefits** |<br><br>**Transfers of**<br>**administrative**<br>**and other**<br>**charges** | **Transfers**<br>**between**<br>**subaccounts,**<br>**including**<br>**Declared**<br>**Interest**<br>**Option**<br>**account** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**contract**<br>**transactions** |<br><br><br>**Total**<br>**increase**<br>**(decrease) in**<br>**net assets** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2025** |
| Fidelity® VIP Growth Portfolio - Service Class 2 | $91709 | $(1093) | $13768 | $(490) | $12185 | $- | $- | $(3) | $(165) | $(168) | $12017 | $103726 |
| Fidelity® VIP High Income Portfolio - Service Class 2 | 9847 | 544 | 43 | 293 | 880 |  | (436) | (11) | (13) | (460) | 420 | 10267 |
| Fidelity® VIP Index 500 Portfolio - Initial Class | 3211481 | (1259) | 247639 | 259378 | 505758 | 62912 | (218439) | (1771) | (53842) | (211140) | 294618 | 3506099 |
| Fidelity® VIP Index 500 Portfolio - Service Class 2 | 2470555 | (6559) | 285621 | 45580 | 324642 | 8820 | (350047) | (3532) | (68174) | (412933) | (88291) | 2382264 |
| Fidelity® VIP Investment Grade Bond Portfolio - Initial Class | 4967362 | 115032 | (85486) | 258137 | 287683 | 53211 | (559650) | (5386) | 184358 | (327467) | (39784) | 4927578 |
| Fidelity® VIP Mid Cap Portfolio - Service Class 2 | 2459527 | (22294) | 306924 | (61571) | 223059 | 20700 | (252276) | (2590) | 29481 | (204685) | 18374 | 2477901 |
| Fidelity® VIP Overseas Portfolio - Initial Class | 702922 | 2652 | 94026 | 33782 | 130460 | 24748 | (85301) | (445) | (19237) | (80235) | 50225 | 753147 |
| Fidelity® VIP Real Estate Portfolio - Service Class 2 | 451113 | 2877 | (5291) | 8030 | 5616 | 2153 | (66617) | (774) | 19953 | (45285) | (39669) | 411444 |
| Franklin Global Real Estate VIP Fund - Class 2 | 429468 | 945 | (15457) | 42915 | 28403 | 11755 | (71519) | (336) | 10479 | (49621) | (21218) | 408250 |
| Franklin Mutual Shares VIP Fund - Class 2 | 79465 | 727 | 6374 | 528 | 7629 |  | (10085) | (76) | 406 | (9755) | (2126) | 77339 |
| Franklin Small Cap Value VIP Fund - Class 2 | 1004375 | (1192) | 55994 | 3185 | 57987 | 6718 | (99120) | (936) | 29068 | (64270) | (6283) | 998092 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | 168213 | (1833) | 3033 | 310 | 1510 | 1080 | (4455) | (95) | (16856) | (20326) | (18816) | 149397 |
| Franklin U.S. Government Securities VIP Fund - Class 2 | 91782 | 1301 | (8839) | 10835 | 3297 | 2665 | (41991) | (60) | 49 | (39337) | (36040) | 55742 |
| Templeton Global Bond VIP Fund - Class 2 | 7925 | (98) | (206) | 1395 | 1091 |  | (351) | (6) | (50) | (407) | 684 | 8609 |
| Templeton Growth VIP Fund - Class 2 | 123953 | (426) | 9043 | 18977 | 27594 | 3085 | (5331) | (105) | 61 | (2290) | 25304 | 149257 |
| LVIP American Century Capital Appreciation Fund – Standard II | 109641 | (1354) | 19480 | (11810) | 6316 | 2793 |  | (87) | (4898) | (2192) | 4124 | 113765 |

---

*See accompanying notes.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Changes in Net Assets (continued)**

**Year Ended December 31, 2025**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Operations** | **Operations** | **Operations** | | **Contract transactions** | **Contract transactions** | **Contract transactions** | **Contract transactions** | | | |
| <br>**Subaccount** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2024** |<br><br>**Net**<br>**investment**<br>**income**<br>**(loss)** |<br><br>**Net realized**<br>**gain (loss)**<br>**on**<br>**investments** |<br>**Change in**<br>**unrealized**<br>**appreciation/**<br>**depreciation**<br>**of**<br>**investments** |<br><br><br>**Net increase**<br>**in net assets**<br>**from**<br>**operations** |<br><br><br>**Transfers**<br>**of net**<br>**premiums** |<br><br>**Transfers of**<br>**surrenders**<br>**and death**<br>**benefits** |<br><br>**Transfers of**<br>**administrative**<br>**and other**<br>**charges** | **Transfers**<br>**between**<br>**subaccounts,**<br>**including**<br>**Declared**<br>**Interest**<br>**Option**<br>**account** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**contract**<br>**transactions** |<br><br><br>**Total**<br>**increase**<br>**(decrease) in**<br>**net assets** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2025** |
| LVIP American Century Inflation Protection Fund – Standard II | $17458 | $678 | $(437) | $627 | $868 | $- | $(7569) | $(14) | $202 | $(7381) | $(6513) | $10945 |
| LVIP American Century Ultra Fund – Standard II | 286328 | (3066) | 52688 | (22292) | 27330 | 3222 | (97177) | (131) | 351 | (93735) | (66405) | 219923 |
| LVIP JPMorgan Mid Cap Value Fund - Standard | 417400 | (302) | 44202 | (29868) | 14032 | 3218 | (20257) | 451 | 4842 | (11746) | 2286 | 419686 |
| LVIP JPMorgan Small Cap Core Fund - Service | 357803 | (2517) | 36751 | (11389) | 22845 | 1502 | (62235) | (539) | 16528 | (44744) | (21899) | 335904 |
| LVIP JPMorgan Small Cap Core Fund - Standard | 274402 | (1395) | 15372 | 7857 | 21834 | 4216 | (52093) | (186) | (9026) | (57089) | (35255) | 239147 |
| T. Rowe Price All-Cap Opportunities Portfolio | 5056418 | (59098) | 674209 | 48003 | 663114 | 40059 | (506506) | (6882) | (126435) | (599764) | 63350 | 5119768 |
| T. Rowe Price Equity Income Portfolio | 4350121 | 18180 | 497423 | (16174) | 499429 | 40037 | (698342) | (5602) | 76516 | (587391) | (87962) | 4262159 |
| T. Rowe Price Moderate Allocation Portfolio | 412715 | 4619 | 19670 | 28539 | 52828 | 665 | (12428) | (372) | (341) | (12476) | 40352 | 453067 |
| T. Rowe Price International Stock Portfolio | 2100240 | 13860 | 137173 | 169158 | 320191 | 29464 | (365482) | (3208) | (10165) | (349391) | (29200) | 2071040 |

---

*See accompanying notes.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Changes in Net Assets**

**Year Ended December 31, 2024**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Operations** | **Operations** | **Operations** | | **Contract transactions** | **Contract transactions** | **Contract transactions** | **Contract transactions** | | | |
| <br>**Subaccount** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2023** |<br><br>**Net**<br>**investment**<br>**income**<br>**(loss)** |<br><br>**Net realized**<br>**gain (loss)**<br>**on**<br>**investments** |<br>**Change in**<br>**unrealized**<br>**appreciation/**<br>**depreciation**<br>**of**<br>**investments** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**operations** |<br><br><br>**Transfers**<br>**of net**<br>**premiums** |<br><br>**Transfers of**<br>**surrenders**<br>**and death**<br>**benefits** |<br><br>**Transfers of**<br>**administrative**<br>**and other**<br>**charges** | **Transfers**<br>**between**<br>**subaccounts,**<br>**including**<br>**Declared**<br>**Interest**<br>**Option**<br>**account** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**contract**<br>**transactions** |<br><br><br>**Total**<br>**increase**<br>**(decrease) in**<br>**net assets** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2024** |
| BNY Mellon VIF Appreciation Portfolio - Initial Shares | $52466 | $(434) | $3617 | $2725 | $5908 | $730 | $(2536) | $(89) | $(145) | $(2040) | $3868 | $56334 |
| BNY Mellon VIF Growth & Income Portfolio - Initial Shares | 155944 | (1188) | 9462 | 25706 | 33980 | 400 | (1996) | (114) | 7539 | 5829 | 39809 | 195753 |
| BNY Mellon VIF Small Cap Portfolio - Initial Shares | 142907 | (778) | (76) | 5844 | 4990 | 3184 | (3541) | (160) | 1801 | 1284 | 6274 | 149181 |
| CVT EAFE International Index Portfolio - Class F | 1326613 | 20997 | 13881 | (10377) | 24501 | 14694 | (106494) | (2663) | 19579 | (74884) | (50383) | 1276230 |
| CVT Russell 2000® Small Cap Index Portfolio | 375305 | 100 | 10910 | 25863 | 36873 | 6563 | (17567) | 105 | (7671) | (18570) | 18303 | 393608 |
| CVT Russell 2000® Small Cap Index Portfolio - Class F | 21186 | (32) | 1649 | (192) | 1425 |  | (6617) | (63) | (760) | (7440) | (6015) | 15171 |
| CVT S&P MidCap 400 Index Portfolio | 184601 | 16 | 10913 | 12196 | 23125 | 950 | (5272) | (174) | 7873 | 3377 | 26502 | 211103 |
| CVT S&P MidCap 400 Index Portfolio - Class F | 15854 | (29) | 1602 | (31) | 1542 |  | (3944) | (19) | (306) | (4269) | (2727) | 13127 |
| DWS Global Small Cap VIP - Class A | 20135 | 48 | 903 | 188 | 1139 | 3906 | (1594) | (35) | 195 | 2472 | 3611 | 23746 |
| Federated Hermes Government Money Fund II - Service Shares | 439201 | 15187 |  |  | 15187 | 15865 | (32199) | (486) | 17120 | 300 | 15487 | 454688 |
| Federated Hermes Managed Volatility Fund II - Primary Shares | 310159 | 3270 | (6497) | 46124 | 42897 | 3995 | (34644) | (328) | 1411 | (29566) | 13331 | 323490 |
| Federated Hermes Quality Bond Fund II - Primary Shares | 912785 | 15604 | (7494) | 15731 | 23841 | 43944 | (78665) | (576) | 7174 | (28123) | (4282) | 908503 |
| Fidelity® VIP Contrafund® Portfolio - Initial Class | 2593310 | (31230) | 473888 | 383135 | 825793 | 27645 | (115525) | (3418) | (49373) | (140671) | 685122 | 3278432 |
| Fidelity® VIP Contrafund® Portfolio - Service Class 2 | 342052 | (4200) | 81889 | 21330 | 99019 | 16927 | (88122) | (163) | (7989) | (79347) | 19672 | 361724 |
| Fidelity® VIP Growth & Income Portfolio - Initial Class | 308330 | 1027 | 29681 | 35302 | 66010 | 1470 | (2730) | (349) | 10711 | 9102 | 75112 | 383442 |
| Fidelity® VIP Growth Portfolio - Initial Class | 653922 | (9044) | 204782 | (9157) | 186581 | 810 | (90269) | 351 | 230 | (88878) | 97703 | 751625 |

---

*See accompanying notes.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Changes in Net Assets (continued)**

**Year Ended December 31, 2024**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Operations** | **Operations** | **Operations** | | **Contract transactions** | **Contract transactions** | **Contract transactions** | **Contract transactions** | | | |
| <br>**Subaccount** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2023** |<br><br>**Net**<br>**investment**<br>**income**<br>**(loss)** |<br><br>**Net realized**<br>**gain (loss)**<br>**on**<br>**investments** |<br>**Change in**<br>**unrealized**<br>**appreciation/**<br>**depreciation**<br>**of**<br>**investments** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**operations** |<br><br><br>**Transfers**<br>**of net**<br>**premiums** |<br><br>**Transfers of**<br>**surrenders**<br>**and death**<br>**benefits** |<br><br>**Transfers of**<br>**administrative**<br>**and other**<br>**charges** | **Transfers**<br>**between**<br>**subaccounts,**<br>**including**<br>**Declared**<br>**Interest**<br>**Option**<br>**account** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**contract**<br>**transactions** |<br><br><br>**Total**<br>**increase**<br>**(decrease) in**<br>**net assets** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2024** |
| Fidelity® VIP Growth Portfolio - Service Class 2 | $94118 | $(1071) | $30085 | $(5813) | $23201 | $- | $(25236) | $(3) | $(371) | $(25610) | $(2409) | $91709 |
| Fidelity® VIP High Income Portfolio - Service Class 2 | 6371 | 488 | 35 | 197 | 720 | 3906 | (1199) | (12) | 61 | 2756 | 3476 | 9847 |
| Fidelity® VIP Index 500 Portfolio - Initial Class | 2792212 | 1994 | 180800 | 455219 | 638013 | 19809 | (185694) | (1954) | (50905) | (218744) | 419269 | 3211481 |
| Fidelity® VIP Index 500 Portfolio - Service Class 2 | 2289616 | (4321) | 244663 | 272877 | 513219 | 24719 | (235799) | (3923) | (117277) | (332280) | 180939 | 2470555 |
| Fidelity® VIP Investment Grade Bond Portfolio - Initial Class | 5180572 | 115319 | (102533) | 14378 | 27164 | 85452 | (508319) | (5959) | 188452 | (240374) | (213210) | 4967362 |
| Fidelity® VIP Mid Cap Portfolio - Service Class 2 | 2271610 | (21210) | 340169 | 37153 | 356112 | 21684 | (141760) | (2820) | (45299) | (168195) | 187917 | 2459527 |
| Fidelity® VIP Overseas Portfolio - Initial Class | 719004 | 3101 | 52005 | (26275) | 28831 | 19563 | (67389) | (496) | 3409 | (44913) | (16082) | 702922 |
| Fidelity® VIP Real Estate Portfolio - Service Class 2 | 481745 | 12414 | (1372) | 12258 | 23300 | 5506 | (55403) | (845) | (3190) | (53932) | (30632) | 451113 |
| Franklin Global Real Estate VIP Fund - Class 2 | 455542 | 2890 | (10378) | 2946 | (4542) | 9686 | (38023) | (341) | 7146 | (21532) | (26074) | 429468 |
| Franklin Mutual Shares VIP Fund - Class 2 | 71945 | 627 | 1402 | 5151 | 7180 |  | (49) | (79) | 468 | 340 | 7520 | 79465 |
| Franklin Small Cap Value VIP Fund - Class 2 | 967922 | (2677) | 876 | 101705 | 99904 | 11227 | (63842) | (1012) | (9824) | (63451) | 36453 | 1004375 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2 | 151714 | (1933) | (6297) | 22772 | 14542 | 899 | (10484) | (114) | 11656 | 1957 | 16499 | 168213 |
| Franklin U.S. Government Securities VIP Fund - Class 2 | 107214 | 1841 | (5034) | 3233 | 40 | 3313 | (8494) | (69) | (10222) | (15472) | (15432) | 91782 |
| Templeton Global Bond VIP Fund - Class 2 | 8400 | (97) | (189) | (784) | (1070) |  | (314) | (6) | 915 | 595 | (475) | 7925 |
| Templeton Growth VIP Fund - Class 2 | 117775 | (318) | (437) | 5642 | 4887 | 3527 | (1801) | (107) | (328) | 1291 | 6178 | 123953 |
| LVIP American Century Capital Appreciation Fund – Standard II | 85163 | (1172) | 6184 | 15525 | 20537 | 3511 |  | (79) | 509 | 3941 | 24478 | 109641 |

---

*See accompanying notes.*

**COUNTRY Investors Variable Annuity Account**

**Statements of Changes in Net Assets (continued)**

**Year Ended December 31, 2024**

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Operations** | **Operations** | **Operations** | | **Contract transactions** | **Contract transactions** | **Contract transactions** | **Contract transactions** | | | |
| <br>**Subaccount** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2023** |<br><br>**Net**<br>**investment**<br>**income**<br>**(loss)** |<br><br>**Net realized**<br>**gain (loss)**<br>**on**<br>**investments** |<br>**Change in**<br>**unrealized**<br>**appreciation/**<br>**depreciation**<br>**of**<br>**investments** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**operations** |<br><br><br>**Transfers**<br>**of net**<br>**premiums** |<br><br>**Transfers of**<br>**surrenders**<br>**and death**<br>**benefits** |<br><br>**Transfers of**<br>**administrative**<br>**and other**<br>**charges** | **Transfers**<br>**between**<br>**subaccounts,**<br>**including**<br>**Declared**<br>**Interest**<br>**Option**<br>**account** |<br><br>**Net increase**<br>**(decrease) in**<br>**net assets**<br>**from**<br>**contract**<br>**transactions** |<br><br><br>**Total**<br>**increase**<br>**(decrease) in**<br>**net assets** |<br><br><br>**Net Assets at**<br>**December 31,**<br>**2024** |
| LVIP American Century Inflation Protection Fund – Standard II | $17935 | $479 | $(47) | $(314) | $118 | $- | $(1049) | $(15) | $469 | $(595) | $(477) | $17458 |
| LVIP American Century Ultra Fund – Standard II | 288683 | (3473) | 55466 | 18593 | 70586 | 3128 | (75039) | (131) | (899) | (72941) | (2355) | 286328 |
| LVIP JPMorgan Mid Cap Value Fund - Standard | 374467 | 247 | 67963 | (20173) | 48037 | 3774 | (11444) | 374 | 2192 | (5104) | 42933 | 417400 |
| LVIP JPMorgan Small Cap Core Fund - Service | 363438 | (2027) | 18492 | 19034 | 35499 | 5895 | (43607) | (585) | (2837) | (41134) | (5635) | 357803 |
| LVIP JPMorgan Small Cap Core Fund - Standard | 259247 | (1097) | 6092 | 21684 | 26679 | 3980 | (16024) | (205) | 725 | (11524) | 15155 | 274402 |
| T. Rowe Price All-Cap Opportunities Portfolio | 4604791 | (57046) | 690116 | 418173 | 1051243 | 28133 | (366456) | (7307) | (253986) | (599616) | 451627 | 5056418 |
| T. Rowe Price Equity Income Portfolio | 4275741 | 27741 | 296445 | 120531 | 444717 | 62465 | (378646) | (6058) | (48098) | (370337) | 74380 | 4350121 |
| T. Rowe Price Moderate Allocation Portfolio | 367369 | 3922 | 11034 | 16198 | 31154 | 50451 | (35069) | (397) | (793) | 14192 | 45346 | 412715 |
| T. Rowe Price International Stock Portfolio | 2135651 | (6033) | 27190 | 24649 | 45806 | 31763 | (186756) | (3414) | 77190 | (81217) | (35411) | 2100240 |

---

*See accompanying notes.*

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements**

**December 31, 2025**

**1. Organization and Significant Accounting Policies**

**Organization**

COUNTRY Investors Variable Annuity Account (the Account), a unit investment trust registered under the Investment Company Act of 1940, as amended, was established by COUNTRY Investors Life Assurance Company (the Company) in 2002 and exists in accordance with the rules and regulations of the Illinois Department of Insurance. The Account is a funding vehicle for individual flexible premium deferred variable annuity contracts issued by the Company. The Company discontinued sales of variable annuity contracts but continues to receive premiums from sales that occurred prior to this change.

Under applicable insurance law, the assets and liabilities of the Account are clearly identified and distinguished from the Company's other assets and liabilities. The portion of the Account's assets applicable to the variable annuity contracts is not available to satisfy liabilities arising out of any other business the Company may conduct.

At the direction of eligible contract owners, the Account invests in the following forty-three investment subaccounts which, in turn, own open-end mutual fund shares of registered investment companies (the Funds). Eligible contract owners may also allocate funds to the Declared Interest Option (DIO) account. The DIO is funded by the general account of the Company and pays interest at declared rates with a guaranteed minimum. Assets and liabilities associated with funds allocated to the DIO are excluded from the Account as these are included in the Company's general account.

---

| | |
|:---|:---|
| **Subaccount / Fund** | **Subaccount / Fund** |
| &nbsp;&nbsp;&nbsp;**BNY Mellon Variable Investment Fund** | &nbsp;&nbsp;&nbsp;**Fidelity® Variable Insurance Products Funds (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Appreciation Portfolio - Initial Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Investment Grade Bond Portfolio - Initial Class |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Growth & Income Portfolio - Initial Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Mid Cap Portfolio - Service Class 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Small Cap Portfolio - Initial Shares (3) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Overseas Portfolio - Initial Class |
| &nbsp;&nbsp;&nbsp;**Calvert Variable Trust, Inc.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Real Estate Portfolio - Service Class 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVT EAFE International Index Portfolio - Class F | &nbsp;&nbsp;&nbsp;**Franklin Templeton Variable Insurance Products Trust** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVT Russell 2000® Small Cap Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Real Estate VIP Fund - Class 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVT Russell 2000® Small Cap Index Portfolio - Class F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund - Class 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVT S&P MidCap 400 Index Portfolio | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund - Class 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVT S&P MidCap 400 Index Portfolio - Class F | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin Small-Mid Cap Growth VIP Fund - Class 2 |
| &nbsp;&nbsp;&nbsp;**Deutsche DWS Variable Series I** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Government Securities VIP Fund - Class 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS Global Small Cap VIP - Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund - Class 2 |
| &nbsp;&nbsp;&nbsp;**Deutsche DWS Variable Series II** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund - Class 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DWS International Opportunities VIP - Class A (1) (2) | &nbsp;&nbsp;&nbsp;**Lincoln Variable Insurance Products Trust** |
| &nbsp;&nbsp;&nbsp;**Federated Hermes Insurance Series** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP American Century Capital Appreciation Fund - Standard II |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Government Money Fund II - Service Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP American Century Inflation Protection Fund - Standard II |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Managed Volatility Fund II - Primary Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP American Century Ultra Fund – Standard II |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Quality Bond Fund II - Primary Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund – Standard |
| &nbsp;&nbsp;&nbsp;**Fidelity® Variable Insurance Products Funds** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Small Cap Core Fund – Service |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Contrafund® Portfolio - Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LVIP JPMorgan Small Cap Core Fund – Standard |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Contrafund® Portfolio - Service Class 2 | &nbsp;&nbsp;&nbsp;**T. Rowe Price Equity Series, Inc.** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Disciplined Small Cap - Service Class 2 (1) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price All-Cap Opportunities Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth & Income Portfolio - Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Equity Income Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth Portfolio - Initial Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price Moderate Allocation Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth Portfolio - Service Class 2 | &nbsp;&nbsp;&nbsp;**T. Rowe Price International Series, Inc** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP High Income Portfolio - Service Class 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T. Rowe Price International Stock Portfolio |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Index 500 Portfolio - Initial Class |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Index 500 Portfolio - Service Class 2 |  |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

(1) Subaccount
 was inactive during 2025 and 2024; accordingly, a Statement of Assets and Liabilities, a
 Statement of Operations and a Statement of Changes in Net Assets have not been presented
 herein.

(2) Effective
 May 1, 2025, Deutsche DWS Variable Series II changed the name of DWS International Growth
 VIP fund to DWS International Opportunities VIP.

(3) Effective
 December 31, 2025, BNY Mellon Variable Investment Fund changed the name of BNY Mellon VIF
 Opportunistic Small Cap Portfolio fund to BNY Mellon VIF Small Cap Portfolio.

**Investments**

Investments in shares of the Funds are stated at fair value, which is the closing net asset value per share as determined by the Funds. The first-in, first-out cost basis has been used in determining the net realized gain or loss from investment transactions and unrealized appreciation or depreciation on investments. Investment transactions are accounted for on the trade date.

At December 31, 2025, all valuation inputs used to determine the fair value of mutual fund shares owned by the Account were classified as Level 1 in accordance with accounting principles generally accepted in the United States of America. There were no transfers into or out of Level 3 during the year.

Dividends and realized capital gain distributions are taken into income on an accrual basis as of the ex-dividend date and are automatically reinvested in shares of the Funds on the payable date.

**Contracts in Annuitization Period**

Net assets allocated to contracts in the annuitization period are computed according to the mortality table indicated in the original contract with an assumed investment return determined at the time of annuitization. The mortality risk is fully borne by the Company and may result in additional amounts being transferred into the variable annuity account by the Company to cover greater longevity of annuitants than expected. Conversely, if amounts allocated exceed amounts required, transfers may be made to the insurance company.

**Use of Estimates in the Preparation of Financial Statements**

The preparation of the Account's financial statements and accompanying notes in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported and disclosed. These estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed in the financial statements and accompanying notes.

**2. Expense Charges and Related Party Transactions**

**Paid to the Company**

The Account pays the Company certain amounts relating to the distribution and administration of the contracts funded by the Account and as reimbursement for certain mortality and other risks assumed by the Company. The following summarizes those amounts.

*Mortality and Expense Risk Charges*: The Company deducts a daily mortality and expense risk charge from the Account at an effective annual rate of 1.20% of the average daily net asset value of the Account. These charges are assessed in return for the Company's assumption of risks associated with adverse mortality experience or excess administrative expenses in connection with contracts issued.

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

*Administrative Charge*: Prior to the annuity payment period, the Company will deduct an annual administrative charge of $30 to reimburse it for administrative expenses related to the contract. A portion of these charges may be deducted from funds held in the fixed interest subaccount.

*Transfer Charge*: A transfer charge of $10 may be imposed for the thirteenth and each subsequent transfer between subaccounts in any one contract year.

**3. Federal Income Taxes**

The operations of the Account are included in the federal income tax return of the Company, which is taxed as a life insurance company under the provisions of the Internal Revenue Code (IRC). Under the current provisions of the IRC, the Company does not expect to incur federal income taxes on the earnings of the Account to the extent the earnings are credited under the contracts. Based on this, no charge is being made currently to the Account for federal income taxes. The Company will review periodically the status of this policy. In the event of changes in the tax law, a charge may be made in future years for any federal income taxes that would be attributable to the contracts.

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

**4. Purchases and Sales of Investment Securities**

The aggregate cost of investment securities purchased and proceeds from investment securities sold by subaccount were as follows during the year ended December 31, 2025:

---

| | | |
|:---|:---|:---|
| <br>**Subaccount** | **Cost of**<br>**Purchases** | **Proceeds**<br>**from Sales** |
| BNY Mellon Variable Investment Fund: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Appreciation Portfolio - Initial Shares | $8394 | $28179 |
| &nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Growth & Income Portfolio - Initial Shares | 16244 | 28053 |
| &nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Small Cap Portfolio - Initial Shares | 7212 | 23564 |
| Calvert Variable Trust, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT EAFE International Index Portfolio - Class F | 37943 | 305334 |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT Russell 2000® Small Cap Index Portfolio | 47842 | 79423 |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT Russell 2000® Small Cap Index Portfolio - Class F | 2315 | 1147 |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT S&P MidCap 400 Index Portfolio | 38895 | 49237 |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT S&P MidCap 400 Index Portfolio - Class F | 1461 | 162 |
| Deutsche DWS Variable Series I: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DWS Global Small Cap VIP - Class A | 1942 | 737 |
| Federated Hermes Insurance Series: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Government Money Fund II - Service Shares | 28906 | 73246 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Managed Volatility Fund II - Primary Shares | 42873 | 57993 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Quality Bond Fund II - Primary Shares | 56223 | 128310 |
| Fidelity® Variable Insurance Products Funds: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Contrafund® Portfolio - Initial Class | 604962 | 456757 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Contrafund® Portfolio - Service Class 2 | 122177 | 141254 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth & Income Portfolio - Initial Class | 47831 | 13994 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth Portfolio - Initial Class | 104571 | 83005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth Portfolio - Service Class 2 | 13459 | 1476 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP High Income Portfolio - Service Class 2 | 665 | 581 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Index 500 Portfolio - Initial Class | 148697 | 344289 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Index 500 Portfolio - Service Class 2 | 81551 | 488104 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Investment Grade Bond Portfolio - Initial Class | 403441 | 615876 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Mid Cap Portfolio - Service Class 2 | 331148 | 275034 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Overseas Portfolio - Initial Class | 97693 | 109658 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Real Estate Portfolio - Service Class 2 | 29738 | 71960 |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

---

| | | |
|:---|:---|:---|
| <br>**Subaccount** | **Cost of**<br>**Purchases** | **Proceeds**<br>**from Sales** |
| Franklin Templeton Variable Insurance Products Trust: |  |  |
| &nbsp;&nbsp;&nbsp;Franklin Global Real Estate VIP Fund - Class 2 | $27109 | $75785 |
| &nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund - Class 2 | 10511 | 11162 |
| &nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund - Class 2 | 125936 | 110452 |
| &nbsp;&nbsp;&nbsp;Franklin Small-Mid Cap Growth VIP Fund - Class 2 | 9581 | 23225 |
| &nbsp;&nbsp;&nbsp;Franklin U.S. Government Securities VIP Fund - Class 2 | 4619 | 42655 |
| &nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund - Class 2 | 196 | 701 |
| &nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund - Class 2 | 16150 | 8671 |
| Lincoln Variable Insurance Products Trust: |  |  |
| &nbsp;&nbsp;&nbsp;LVIP American Century Capital Appreciation Fund – Standard II | 21216 | 6466 |
| &nbsp;&nbsp;&nbsp;LVIP American Century Inflation Protection Fund – Standard II | 1150 | 7853 |
| &nbsp;&nbsp;&nbsp;LVIP American Century Ultra Fund – Standard II | 23252 | 100198 |
| &nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund - Standard | 58122 | 25181 |
| &nbsp;&nbsp;&nbsp;LVIP JPMorgan Small Cap Core Fund - Service | 69891 | 90695 |
| &nbsp;&nbsp;&nbsp;LVIP JPMorgan Small Cap Core Fund - Standard | 34786 | 73091 |
| T. Rowe Price Equity Series, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;T. Rowe Price All-Cap Opportunities Portfolio | 584471 | 681950 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Equity Income Portfolio | 623165 | 787336 |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Moderate Allocation Portfolio | 30174 | 18690 |
| T. Rowe Price International Series, Inc.: |  |  |
| &nbsp;&nbsp;&nbsp;T. Rowe Price International Stock Portfolio | 242110 | 407026 |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

**5. Summary of Changes from Unit Transactions**

Transactions in units of each subaccount were as follows for the periods ended December 31, 2025 and 2024:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Period Ended December 31,** | **Period Ended December 31,** | **Period Ended December 31,** | **Period Ended December 31,** | **Period Ended December 31,** | **Period Ended December 31,** |
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| <br>**Subaccount** |<br>**Purchased** |<br>**Redeemed** | **Net**<br>**Increase**<br>**(Decrease)** |<br>**Purchased** |<br>**Redeemed** | **Net**<br>**Increase**<br>**(Decrease)** |
| BNY Mellon Variable Investment Fund: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Appreciation Portfolio - Initial Shares | **8** | **556** | **(548)** | 18 | 62 | (44) |
| &nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Growth & Income Portfolio - Initial Shares | **24** | **432** | **(408)** | 162 | 48 | 114 |
| &nbsp;&nbsp;&nbsp;&nbsp;BNY Mellon VIF Small Cap Portfolio - Initial Shares | **293** | **908** | **(615)** | 226 | 165 | 61 |
| Calvert Variable Trust, Inc.: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT EAFE International Index Portfolio - Class F | **303** | **11703** | **(11400)** | 2537 | 5794 | (3257) |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT Russell 2000® Small Cap Index Portfolio | **655** | **2083** | **(1428)** | 266 | 794 | (528) |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT Russell 2000® Small Cap Index Portfolio - Class F | **25** | **17** | **8** | 1 | 154 | (153) |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT S&P MidCap 400 Index Portfolio | **469** | **930** | **(461)** | 201 | 120 | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;CVT S&P MidCap 400 Index Portfolio - Class F | **9** | **-** | **9** |  | 93 | (93) |
| Deutsche DWS Variable Series I: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;DWS Global Small Cap VIP - Class A | **6** | **11** | **(5)** | 113 | 41 | 72 |
| Federated Hermes Insurance Series: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Government Money Fund II - Service Shares | **1389** | **6965** | **(5576)** | 3438 | 3392 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Managed Volatility Fund II - Primary Shares | **1431** | **2670** | **(1239)** | 375 | 1869 | (1494) |
| &nbsp;&nbsp;&nbsp;&nbsp;Federated Hermes Quality Bond Fund II - Primary Shares | **2174** | **9604** | **(7430)** | 5884 | 8236 | (2352) |
| Fidelity® Variable Insurance Products Funds: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Contrafund® Portfolio - Initial Class | **989** | **5347** | **(4358)** | 385 | 2405 | (2020) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Contrafund® Portfolio - Service Class 2 | **739** | **1553** | **(814)** | 225 | 1307 | (1082) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth & Income Portfolio - Initial Class | **50** | **177** | **(127)** | 342 | 116 | 226 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth Portfolio - Initial Class | **44** | **876** | **(832)** | 43 | 1246 | (1203) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Growth Portfolio - Service Class 2 | **2** | **3** | **(1)** |  | 296 | (296) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP High Income Portfolio - Service Class 2 | **-** | **16** | **(16)** | 162 | 46 | 116 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Index 500 Portfolio - Initial Class | **1662** | **5017** | **(3355)** | 615 | 4568 | (3953) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Index 500 Portfolio - Service Class 2 | **640** | **6251** | **(5611)** | 435 | 5101 | (4666) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Investment Grade Bond Portfolio - Initial Class | **19379** | **46167** | **(26788)** | 29446 | 49993 | (20547) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Mid Cap Portfolio - Service Class 2 | **889** | **4779** | **(3890)** | 629 | 3781 | (3152) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Overseas Portfolio - Initial Class | **768** | **3529** | **(2761)** | 1237 | 2953 | (1716) |
| &nbsp;&nbsp;&nbsp;&nbsp;Fidelity® VIP Real Estate Portfolio - Service Class 2 | **488** | **1512** | **(1024)** | 305 | 1510 | (1205) |
| Franklin Templeton Variable Insurance Products Trust: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Global Real Estate VIP Fund - Class 2 | **1354** | **4361** | **(3007)** | 1461 | 2697 | (1236) |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Mutual Shares VIP Fund - Class 2 | **15** | **344** | **(329)** | 18 | 5 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small Cap Value VIP Fund - Class 2 | **853** | **2330** | **(1477)** | 482 | 1911 | (1429) |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin Small-Mid Cap Growth VIP Fund - Class 2 | **27** | **489** | **(462)** | 304 | 265 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Franklin U.S. Government Securities VIP Fund - Class 2 | **210** | **3397** | **(3187)** | 366 | 1643 | (1277) |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Global Bond VIP Fund - Class 2 | **17** | **54** | **(37)** | 93 | 40 | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;Templeton Growth VIP Fund - Class 2 | **240** | **336** | **(96)** | 167 | 104 | 63 |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Period Ended December 31,** | **Period Ended December 31,** | **Period Ended December 31,** | **Period Ended December 31,** | **Period Ended December 31,** | **Period Ended December 31,** |
| | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| <br>**Subaccount** |<br>**Purchased** |<br>**Redeemed** | **Net**<br>**Increase**<br>**(Decrease)** |<br>**Purchased** |<br>**Redeemed** | **Net**<br>**Increase**<br>**(Decrease)** |
| Lincoln Variable Insurance Products Trust: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;LVIP American Century Capital Appreciation Fund – Standard II | **71** | **111** | **(40)** | 117 | 15 | 102 |
| &nbsp;&nbsp;&nbsp;LVIP American Century Inflation Protection Fund – Standard II | **20** | **541** | **(521)** | 36 | 79 | (43) |
| &nbsp;&nbsp;&nbsp;LVIP American Century Ultra Fund – Standard II | **49** | **1288** | **(1239)** | 49 | 1175 | (1126) |
| &nbsp;&nbsp;&nbsp;LVIP JPMorgan Mid Cap Value Fund - Standard | **181** | **416** | **(235)** | 149 | 258 | (109) |
| &nbsp;&nbsp;&nbsp;LVIP JPMorgan Small Cap Core Fund - Service | **850** | **1777** | **(927)** | 169 | 974 | (805) |
| &nbsp;&nbsp;&nbsp;LVIP JPMorgan Small Cap Core Fund - Standard | **341** | **1662** | **(1321)** | 203 | 485 | (282) |
| T. Rowe Price Equity Series, Inc.: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;T. Rowe Price All-Cap Opportunities Portfolio | **323** | **7166** | **(6843)** | 653 | 7911 | (7258) |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Equity Income Portfolio | **4083** | **19752** | **(15669)** | 3125 | 13114 | (9989) |
| &nbsp;&nbsp;&nbsp;T. Rowe Price Moderate Allocation Portfolio | **44** | **445** | **(401)** | 1659 | 1228 | 431 |
| T. Rowe Price International Series, Inc.: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;T. Rowe Price International Stock Portfolio | **1434** | **15643** | **(14209)** | 6118 | 9496 | (3378) |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

**6. Unit Values**

The following summarizes units outstanding, unit values, and net assets at December 31, 2025, 2024, 2023, 2022 and 2021, and investment income ratios, expense ratios, and total return ratios for the periods then ended:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **As of December 31** | **As of December 31** | **As of December 31** | | | |
| <br>**Subaccount** | <br>**Units** | **Unit**<br>**Value (A)** | <br>**Net Assets** | **Investment**<br>**Income**<br>**Ratio (B)** | <br>**Expense**<br>**Ratio (C)** | <br>**Total**<br>**Return (D)** |
| BNY Mellon VIF Appreciation Portfolio - Initial Shares: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 608 | $53.00 | $32216 | 0.36% | 1.20% | 8.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 1156 | 48.73 | 56334 | 0.42 | 1.20 | 11.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 1200 | 43.72 | 52466 | 0.72 | 1.20 | 19.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 1362 | 36.57 | 49818 | 0.67 | 1.20 | (19.04) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 1379 | 45.17 | 62289 | 0.44 | 1.20 | 25.61 |
| BNY Mellon VIF Growth & Income Portfolio - Initial Shares: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 2935 | 67.60 | 198382 | 0.45 | 1.20 | 15.44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 3343 | 58.56 | 195753 | 0.54 | 1.20 | 21.27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 3229 | 48.29 | 155944 | 0.66 | 1.20 | 25.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 3323 | 38.57 | 128175 | 0.80 | 1.20 | (15.84) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 3329 | 45.83 | 152558 | 0.48 | 1.20 | 24.13 |
| BNY Mellon VIF Small Cap Portfolio - Initial Shares: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 5607 | 26.29 | 147415 | 0.66 | 1.20 | 9.68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 6222 | 23.97 | 149181 | 0.67 | 1.20 | 3.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 6161 | 23.19 | 142907 | 0.32 | 1.20 | 7.96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 6037 | 21.48 | 129664 |  | 1.20 | (17.61) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 6096 | 26.07 | 158909 | 0.11 | 1.20 | 15.10 |
| CVT EAFE International Index Portfolio - Class F: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 45432 | 28.99 | 1317005 | 2.41 | 1.20 | 29.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 56832 | 22.46 | 1276230 | 2.74 | 1.20 | 1.72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 60089 | 22.08 | 1326613 | 2.88 | 1.20 | 16.15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 66882 | 19.01 | 1271379 | 3.70 | 1.20 | (15.74) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 64255 | 22.56 | 1449898 | 1.78 | 1.20 | 9.30 |
| CVT Russell 2000® Small Cap Index Portfolio: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 9601 | 39.66 | 380763 | 1.60 | 1.20 | 11.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 11029 | 35.69 | 393608 | 1.23 | 1.20 | 9.92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 11557 | 32.47 | 375305 | 0.86 | 1.20 | 15.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 12408 | 28.18 | 349707 | 0.81 | 1.20 | (21.46) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 13553 | 35.88 | 486330 | 0.75 | 1.20 | 13.15 |
| CVT Russell 2000® Small Cap Index Portfolio - Class F: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 295 | 58.55 | 17288 | 1.68 | 1.20 | 10.91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 287 | 52.79 | 15171 | 1.04 | 1.20 | 9.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 440 | 48.14 | 21186 | 0.49 | 1.20 | 15.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 1050 | 41.86 | 43960 | 0.85 | 1.20 | (21.61) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 979 | 53.40 | 52258 | 0.75 | 1.20 | 12.94 |
| CVT S&P MidCap 400 Index Portfolio: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 3724 | 53.41 | 198898 | 1.11 | 1.20 | 5.87 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 4185 | 50.45 | 211103 | 1.21 | 1.20 | 12.16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 4104 | 44.98 | 184601 | 1.17 | 1.20 | 14.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 4706 | 39.20 | 184466 | 0.90 | 1.20 | (14.35) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 6278 | 45.77 | 287343 | 0.84 | 1.20 | 22.94 |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **As of December 31** | **As of December 31** | **As of December 31** | | | |
| <br>**Subaccount** | <br>**Units** | **Unit**<br>**Value (A)** | <br>**Net Assets** | **Investment**<br>**Income**<br>**Ratio (B)** | <br>**Expense**<br>**Ratio (C)** | <br>**Total**<br>**Return (D)** |
| CVT S&P MidCap 400 Index Portfolio - Class F: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 271 | $52.86 | $14320 | 1.12% | 1.20% | 5.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 262 | 50.01 | 13127 | 1.02 | 1.20 | 11.98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 355 | 44.66 | 15854 | 0.71 | 1.20 | 14.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 917 | 39.00 | 35775 | 0.90 | 1.20 | (14.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 1240 | 45.63 | 56580 | 0.84 | 1.20 | 22.73 |
| DWS Global Small Cap VIP - Class A: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 630 | 44.53 | 28048 | 1.19 | 1.20 | 19.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 635 | 37.40 | 23746 | 1.40 | 1.20 | 4.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 563 | 35.79 | 20135 | 0.90 | 1.20 | 23.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 584 | 29.07 | 16988 | 0.55 | 1.20 | (24.96) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 557 | 38.74 | 21560 | 0.36 | 1.20 | 13.57 |
| Federated Hermes Government Money Fund II - Service Shares: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 41063 | 9.99 | 410348 | 3.68 | 1.20 | 2.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 46639 | 9.75 | 454688 | 4.58 | 1.20 | 3.39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 46593 | 9.43 | 439201 | 4.43 | 1.20 | 3.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 50090 | 9.13 | 457155 | 1.14 | 1.20 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 51941 | 9.13 | 474229 |  | 1.20 | (1.19) |
| Federated Hermes Managed Volatility Fund II - Primary Shares: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 14533 | 21.69 | 315267 | 2.88 | 1.20 | 5.75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 15772 | 20.51 | 323490 | 2.21 | 1.20 | 14.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 17266 | 17.96 | 310159 | 1.87 | 1.20 | 7.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 17333 | 16.73 | 289930 | 1.85 | 1.20 | (14.77) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 18519 | 19.63 | 363463 | 1.74 | 1.20 | 17.12 |
| Federated Hermes Quality Bond Fund II - Primary Shares: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 67755 | 12.79 | 866328 | 3.43 | 1.20 | 5.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 75185 | 12.08 | 908503 | 2.92 | 1.20 | 2.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 77537 | 11.77 | 912785 | 2.66 | 1.20 | 4.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 80986 | 11.22 | 909017 | 2.59 | 1.20 | (10.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 87276 | 12.52 | 1092710 | 2.89 | 1.20 | (2.57) |
| Fidelity® VIP Contrafund® Portfolio - Initial Class: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 39857 | 89.01 | 3547573 | 0.14 | 1.20 | 20.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 44215 | 74.15 | 3278432 | 0.19 | 1.20 | 32.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 46235 | 56.09 | 2593310 | 0.48 | 1.20 | 31.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 49843 | 42.53 | 2119947 | 0.51 | 1.20 | (27.19) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 49857 | 58.41 | 2912287 | 0.06 | 1.20 | 26.32 |
| Fidelity® VIP Contrafund® Portfolio - Service Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 3569 | 98.84 | 352758 |  | 1.20 | 19.76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 4383 | 82.53 | 361724 | 0.03 | 1.20 | 31.86 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 5465 | 62.59 | 342052 | 0.20 | 1.20 | 31.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 8066 | 47.58 | 383830 | 0.27 | 1.20 | (27.37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 7911 | 65.51 | 518196 | 0.03 | 1.20 | 26.01 |
| Fidelity® VIP Growth & Income Portfolio - Initial Class: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 7662 | 59.11 | 452853 | 1.58 | 1.20 | 20.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 7789 | 49.23 | 383442 | 1.49 | 1.20 | 20.75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 7563 | 40.77 | 308330 | 1.70 | 1.20 | 17.32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 7601 | 34.75 | 264139 | 1.69 | 1.20 | (6.08) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 7410 | 37.00 | 274172 | 2.44 | 1.20 | 24.45 |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **As of December 31** | **As of December 31** | **As of December 31** | | | |
| <br>**Subaccount** |<br>**Units** | **Unit**<br>**Value (A)** |<br>**Net Assets** | **Investment**<br>**Income**<br>**Ratio (B)** |<br>**Expense**<br>**Ratio (C)** |<br>**Total**<br>**Return (D)** |
| Fidelity® VIP Growth Portfolio - Initial Class: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 9120 | $85.75 | $782024 | 0.29% | 1.20% | 13.55% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 9952 | 75.52 | 751625 |  | 1.20 | 28.83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 11155 | 58.62 | 653922 | 0.13 | 1.20 | 34.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 10796 | 43.54 | 470099 | 0.62 | 1.20 | (25.36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 10981 | 58.33 | 640507 |  | 1.20 | 21.75 |
| Fidelity® VIP Growth Portfolio - Service Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 928 | 111.81 | 103726 | 0.05 | 1.20 | 13.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 929 | 98.73 | 91709 |  | 1.20 | 28.52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 1225 | 76.82 | 94118 |  | 1.20 | 34.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 1230 | 57.21 | 70366 | 0.35 | 1.20 | (25.54) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 1225 | 76.83 | 94084 |  | 1.20 | 21.45 |
| Fidelity® VIP High Income Portfolio - Service Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 363 | 28.31 | 10267 | 6.54 | 1.20 | 9.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 379 | 25.97 | 9847 | 6.32 | 1.20 | 7.31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 263 | 24.20 | 6371 | 5.65 | 1.20 | 8.91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 286 | 22.22 | 6358 | 5.17 | 1.20 | (12.69) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 294 | 25.45 | 7474 | 5.28 | 1.20 | 3.04 |
| Fidelity® VIP Index 500 Portfolio - Initial Class: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 50827 | 68.98 | 3506099 | 1.15 | 1.20 | 16.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 54182 | 59.27 | 3211481 | 1.27 | 1.20 | 23.40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 58135 | 48.03 | 2792212 | 1.46 | 1.20 | 24.69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 62571 | 38.52 | 2409988 | 1.45 | 1.20 | (19.18) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 70977 | 47.66 | 3382552 | 1.25 | 1.20 | 27.06 |
| Fidelity® VIP Index 500 Portfolio - Service Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 27517 | 86.57 | 2382264 | 0.91 | 1.20 | 16.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 33128 | 74.58 | 2470555 | 1.03 | 1.20 | 23.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 37794 | 60.58 | 2289616 | 1.24 | 1.20 | 24.39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 43129 | 48.70 | 2100507 | 1.13 | 1.20 | (19.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 53120 | 60.41 | 3209179 | 1.03 | 1.20 | 26.73 |
| Fidelity® VIP Investment Grade Bond Portfolio - Initial Class: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 393461 | 12.52 | 4927578 | 3.50 | 1.20 | 5.92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 420249 | 11.82 | 4967362 | 3.46 | 1.20 | 0.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 440796 | 11.75 | 5180572 | 2.68 | 1.20 | 4.91 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 430370 | 11.20 | 4819614 | 2.22 | 1.20 | (13.98) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 459602 | 13.02 | 5984192 | 2.20 | 1.20 | (1.81) |
| Fidelity® VIP Mid Cap Portfolio - Service Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 41603 | 59.56 | 2477901 | 0.25 | 1.20 | 10.17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 45493 | 54.06 | 2459527 | 0.34 | 1.20 | 15.76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 48645 | 46.70 | 2271610 | 0.38 | 1.20 | 13.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 52244 | 41.16 | 2150533 | 0.26 | 1.20 | (15.98) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 58038 | 48.99 | 2843200 | 0.31 | 1.20 | 23.84 |
| Fidelity® VIP Overseas Portfolio - Initial Class: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 25035 | 30.08 | 753147 | 1.54 | 1.20 | 18.94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 27796 | 25.29 | 702922 | 1.61 | 1.20 | 3.82 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 29512 | 24.36 | 719004 | 1.02 | 1.20 | 19.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 31128 | 20.46 | 636871 | 1.11 | 1.20 | (25.38) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 30688 | 27.42 | 841391 | 0.55 | 1.20 | 18.29 |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **As of December 31** | **As of December 31** | **As of December 31** | | | |
| <br>**Subaccount** | <br>**Units** | **Unit**<br>**Value (A)** | <br>**Net Assets** | **Investment**<br>**Income**<br>**Ratio (B)** | <br>**Expense**<br>**Ratio (C)** | <br>**Total**<br>**Return (D)** |
| Fidelity® VIP Real Estate Portfolio - Service Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 8924 | $46.11 | $411444 | 1.87% | 1.20% | 1.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 9948 | 45.35 | 451113 | 3.88 | 1.20 | 5.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 11153 | 43.19 | 481745 | 2.39 | 1.20 | 9.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 10680 | 39.42 | 420973 | 1.08 | 1.20 | (28.55) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 11697 | 55.17 | 645297 | 0.94 | 1.20 | 37.00 |
| Franklin Global Real Estate VIP Fund - Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 24659 | 16.56 | 408250 | 1.41 | 1.20 | 6.70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 27666 | 15.52 | 429468 | 1.84 | 1.20 | (1.52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 28902 | 15.76 | 455542 | 2.83 | 1.20 | 10.13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 29692 | 14.31 | 425010 | 2.40 | 1.20 | (26.95) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 29679 | 19.59 | 581428 | 0.89 | 1.20 | 25.26 |
| Franklin Mutual Shares VIP Fund - Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 2483 | 31.15 | 77339 | 2.09 | 1.20 | 10.23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 2812 | 28.26 | 79465 | 2.01 | 1.20 | 9.92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 2799 | 25.71 | 71945 | 1.64 | 1.20 | 12.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 3752 | 22.93 | 86033 | 1.78 | 1.20 | (8.54) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 4117 | 25.07 | 103197 | 2.59 | 1.20 | 17.81 |
| Franklin Small Cap Value VIP Fund - Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 20967 | 47.60 | 998092 | 1.07 | 1.20 | 6.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 22444 | 44.75 | 1004375 | 0.93 | 1.20 | 10.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 23873 | 40.55 | 967922 | 0.53 | 1.20 | 11.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 26398 | 36.39 | 960691 | 0.99 | 1.20 | (11.14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 28389 | 40.95 | 1162514 | 1.03 | 1.20 | 23.90 |
| Franklin Small-Mid Cap Growth VIP Fund - Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 3289 | 45.43 | 149397 |  | 1.20 | 1.32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 3751 | 44.84 | 168213 |  | 1.20 | 9.71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 3712 | 40.87 | 151714 |  | 1.20 | 25.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 3697 | 32.64 | 120645 |  | 1.20 | (34.47) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 3641 | 49.81 | 181379 |  | 1.20 | 8.71 |
| Franklin U.S. Government Securities VIP Fund - Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 4331 | 12.87 | 55742 | 3.23 | 1.20 | 5.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 7518 | 12.21 | 91782 | 3.13 | 1.20 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 8795 | 12.19 | 107214 | 2.69 | 1.20 | 3.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 8774 | 11.81 | 103602 | 2.30 | 1.20 | (10.80) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 9474 | 13.24 | 125445 | 2.47 | 1.20 | (3.00) |
| Templeton Global Bond VIP Fund - Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 711 | 12.11 | 8609 |  | 1.20 | 14.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 748 | 10.59 | 7925 |  | 1.20 | (12.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 695 | 12.10 | 8400 |  | 1.20 | 1.68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 706 | 11.90 | 8394 |  | 1.20 | (6.08) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 1656 | 12.67 | 20977 |  | 1.20 | (6.08) |
| Templeton Growth VIP Fund - Class 2: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 5919 | 25.22 | 149257 | 0.88 | 1.20 | 22.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 6015 | 20.61 | 123953 | 0.95 | 1.20 | 4.14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 5952 | 19.79 | 117775 | 3.27 | 1.20 | 19.58 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 6179 | 16.55 | 102257 | 0.16 | 1.20 | (12.53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 6505 | 18.92 | 123089 | 1.08 | 1.20 | 3.61 |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **As of December 31** | **As of December 31** | **As of December 31** | | | |
| <br>**Subaccount** | <br>**Units** | **Unit**<br>**Value (A)** | <br>**Net Assets** | **Investment**<br>**Income**<br>**Ratio (B)** | <br>**Expense**<br>**Ratio (C)** | <br>**Total**<br>**Return (D)** |
| LVIP American Century Capital Appreciation Fund – Standard II: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 2455 | $46.33 | $113765 | -% | 1.20% | 5.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 2495 | 43.94 | 109641 |  | 1.20 | 23.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 2393 | 35.58 | 85163 |  | 1.20 | 19.28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 2413 | 29.83 | 71985 |  | 1.20 | (28.98) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 2180 | 42.00 | 91574 |  | 1.20 | 9.86 |
| LVIP American Century Inflation Protection Fund – Standard II: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 765 | 14.30 | 10945 | 5.73 | 1.20 | 5.30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 1286 | 13.58 | 17458 | 3.86 | 1.20 | 0.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 1329 | 13.50 | 17935 | 3.61 | 1.20 | 2.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 1357 | 13.18 | 17894 | 5.17 | 1.20 | (13.91) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 1403 | 15.31 | 21483 | 3.39 | 1.20 | 5.30 |
| LVIP American Century Ultra Fund – Standard II: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 2743 | 80.19 | 219923 |  | 1.20 | 11.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 3982 | 71.91 | 286328 |  | 1.20 | 27.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 5108 | 56.51 | 288683 |  | 1.20 | 41.81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 5258 | 39.85 | 209513 |  | 1.20 | (33.17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 7167 | 59.63 | 427363 |  | 1.20 | 21.69 |
| LVIP JPMorgan Mid Cap Value Fund - Standard: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 8072 | 51.99 | 419686 | 1.12 | 1.20 | 3.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 8307 | 50.25 | 417400 | 1.26 | 1.20 | 12.92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 8416 | 44.50 | 374467 | 3.22 | 1.20 | 9.61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 8141 | 40.60 | 330518 | 0.96 | 1.20 | (9.23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 8433 | 44.73 | 377247 | 0.91 | 1.20 | 28.35 |
| LVIP JPMorgan Small Cap Core Fund - Service: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 5870 | 57.22 | 335904 | 0.42 | 1.20 | 8.70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 6797 | 52.64 | 357803 | 0.65 | 1.20 | 10.10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 7602 | 47.81 | 363438 | 0.99 | 1.20 | 11.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 7899 | 42.89 | 338781 | 0.09 | 1.20 | (20.52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 8355 | 53.96 | 450820 | 0.31 | 1.20 | 19.65 |
| LVIP JPMorgan Small Cap Core Fund - Standard: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 5278 | 45.31 | 239147 | 0.62 | 1.20 | 8.97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 6599 | 41.58 | 274402 | 0.80 | 1.20 | 10.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 6881 | 37.67 | 259247 | 1.37 | 1.20 | 11.75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 7010 | 33.71 | 236293 | 0.45 | 1.20 | (20.31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 7085 | 42.30 | 299679 | 0.53 | 1.20 | 19.97 |
| T. Rowe Price All-Cap Opportunities Portfolio: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 50680 | 101.02 | 5119768 |  | 1.20 | 14.93 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 57523 | 87.90 | 5056418 | 0.07 | 1.20 | 23.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 64781 | 71.08 | 4604791 | 0.25 | 1.20 | 27.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 69244 | 55.78 | 3862240 |  | 1.20 | (22.43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 71804 | 71.91 | 5163728 |  | 1.20 | 19.35 |
| T. Rowe Price Equity Income Portfolio: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 102152 | 41.72 | 4262159 | 1.62 | 1.20 | 13.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 117821 | 36.92 | 4350121 | 1.82 | 1.20 | 10.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 127810 | 33.45 | 4275741 | 2.09 | 1.20 | 8.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 134270 | 30.91 | 4149666 | 1.84 | 1.20 | (4.48) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 158139 | 32.36 | 5116898 | 1.56 | 1.20 | 24.08 |

---

**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **As of December 31** | **As of December 31** | **As of December 31** | | | |
| <br>**Subaccount** | <br>**Units** | **Unit**<br>**Value (A)** | <br>**Net Assets** | **Investment**<br>**Income**<br>**Ratio (B)** | <br>**Expense**<br>**Ratio (C)** | <br>**Total**<br>**Return (D)** |
| T. Rowe Price Moderate Allocation Portfolio: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 13055 | $34.70 | $453067 | 2.27% | 1.20% | 13.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 13456 | 30.67 | 412715 | 2.26 | 1.20 | 8.72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 13025 | 28.21 | 367369 | 2.17 | 1.20 | 13.98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 20900 | 24.75 | 517184 | 1.54 | 1.20 | (19.28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 23145 | 30.66 | 709530 | 0.98 | 1.20 | 8.76 |
| T. Rowe Price International Stock Portfolio: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | 76152 | 27.20 | 2071040 | 1.85 | 1.20 | 17.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | 90361 | 23.24 | 2100240 | 0.93 | 1.20 | 2.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | 93739 | 22.78 | 2135651 | 0.97 | 1.20 | 14.88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022 | 101913 | 19.83 | 2021412 | 0.76 | 1.20 | (16.82) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | 108804 | 23.84 | 2594207 | 0.61 | 1.20 | 0.13 |

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**COUNTRY Investors Variable Annuity Account**

**Notes to Financial Statements (continued)**

(A) There
 are no differences in unit value between accumulation units and units of contracts in annuitization
 period since there are no differences in charges that result in direct reductions of unit
 values.

(B) These
 ratios represent the dividends, excluding distributions of capital gains, received by the
 subaccount from the underlying mutual fund, net of management fees assessed by the fund manager,
 divided by the average net assets. These ratios exclude those expenses, such as mortality
 and expense charges, that result in direct reductions in the unit values. The recognition
 of investment income by the subaccount is affected by the timing of the declaration of dividends
 by the underlying fund in which the subaccounts invest.

(C) These
 ratios represent the annualized contract expenses of the separate account, consisting 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 fund are excluded.

(D) These
 ratios represent the total return for the period indicated, including changes in the value
 of the underlying fund, and reflect deductions for all items included in the expense ratio.
 The total return 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.

**7. Segment Reporting**

Each subaccount, as detailed in Note 1, represents a single operating segment. The Chief Operating Officer of the Company acts as the Chief Operating Decision Maker (CODM) and monitors the operating results of each subaccount. The change in net assets resulting from operations, which is used by the CODM to assess the subaccount's performance, is consistent with that presented within the subaccount's financial statements. Subaccount assets are reflected on the accompanying Statement of Assets and Liabilities and significant segment expenses are listed on the accompanying Statement of Operations.