# EDGAR Filing Document

**Accession Number:** 0001173492
**File Stem:** 0001193125-26-182603
**Filing Date:** 2026-4
**Character Count:** 597784
**Document Hash:** 55dd77a64e169e5aec8dbb62855fc937
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-182603.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0001193125-26-182603

**CONFORMED SUBMISSION TYPE**: N-VPFS

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260427

**EFFECTIVENESS DATE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VARIABLE ANNUITY ACCOUNT A
- **CENTRAL INDEX KEY:** 0001173492

**ORGANIZATION NAME:**
- **EIN:** 133797548
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-VPFS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21104
- **FILM NUMBER:** 26902550

**BUSINESS ADDRESS:**
- **STREET 1:** 121 STATE STREET
- **CITY:** ALBANY
- **STATE:** NY
- **ZIP:** 12207
- **BUSINESS PHONE:** 8453022205

**MAIL ADDRESS:**
- **STREET 1:** 121 STATE STREET
- **CITY:** ALBANY
- **STATE:** NY
- **ZIP:** 12207

## Series and Classes Contracts Data

### VARIABLE ANNUITY ACCOUNT A (Series ID: S000010139)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000028145 | ADVISORDESIGNS VARIABLE ANNUITY |  |

##### [**Table of Contents**](#toc)
FINANCIAL STATEMENTS

Variable Annuity Account A

Year Ended December 31, 2025

With Report of Independent Registered Public Accounting Firm

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Financial Statements

Year Ended December 31, 2025

---

| | |
|:---|:---|
| Contents |  |
|  [Report of Independent Registered Public Accounting Firm](#fin13222_1) | 1 |
|  Audited Financial Statements |  |
|  [Statements of Net Assets](#fin13222_3) | 11 |
|  [Statements of Operations and Change in Net Assets](#fin13222_4) | 17 |
|  [Notes to Financial Statements](#fin13222_5) | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[1. Organization and Significant Accounting Policies](#fin13222_6) | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[2. Variable Annuity Contract Charges](#fin13222_7) | 118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[3. Summary of Unit Transactions](#fin13222_8) | 121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[4. Financial Highlights](#fin13222_9) | 130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[5. Subsequent Events](#fin13222_10) | 179 |

---

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##### [**Table of Contents**](#toc)
Report of Independent Registered Public Accounting Firm

To the Board of Directors of First Security Benefit Life Insurance and

Annuity Company of New York and Contract Owners of Variable

Annuity Account A

**Opinion on the Financial Statements** 

We have audited the accompanying statements of net assets of each of the subaccounts listed in the Appendix that comprise Variable Annuity Account A (the Separate Account), as of December 31, 2025, and the related statements of operations and change in net assets for each of the periods indicated in the Appendix, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each subaccount as of December 31, 2025, the results of its operations and changes in its net assets for each of the periods indicated in the Appendix, in conformity with U.S. generally accepted accounting principles.

**Basis for Opinion** 

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

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures 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/ Ernst & Young LLP

We have served as the Separate Account's auditor since 1994.

Kansas City, Missouri

April 24, 2026

------

##### [**Table of Contents**](#toc)
**Appendix** 

**Subaccounts comprising Variable Annuity Account A** 

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| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
|  AB VPS Discovery Value Portfolio | For each of the two years in the period ended December 31, 2025 |
|  AB VPS Relative Value Portfolio | For each of the two years in the period ended December 31, 2025 |
|  AFIS Capital World Growth and Income | For each of the two years in the period ended December 31, 2025 |
|  AFIS U.S. Government Securities | For each of the two years in the period ended December 31, 2025 |
|  AFIS Washington Mutual Investors | For each of the two years in the period ended December 31, 2025 |
|  Alger Capital Appreciation | For each of the two years in the period ended December 31, 2025 |
|  Alger Large Cap Growth | For each of the two years in the period ended December 31, 2025 |
|  Allspring Opportunity VT | For each of the two years in the period ended December 31, 2025 |
|  Allspring VT Discovery All Cap Growth Fund | For each of the two years in the period ended December 31, 2025 |
|  ALPS/Alerian Energy Infrastructure | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> Asset Allocation | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> Capital World Bond | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> Global Growth | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> Global Small Capitalization | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> Growth | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> Growth-Income | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> International | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> International Growth and Income | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> Mortgage | For each of the two years in the period ended December 31, 2025 |
|  American Funds IS<sup>®</sup> New World | For each of the two years in the period ended December 31, 2025 |
|  BlackRock Advantage Large Cap Core V.I. | For each of the two years in the period ended December 31, 2025 |
|  BlackRock Basic Value V.I. | For each of the two years in the period ended December 31, 2025 |
|  BlackRock Equity Dividend V.I. | For each of the two years in the period ended December 31, 2025 |
|  BlackRock Global Allocation V.I. | For each of the two years in the period ended December 31, 2025 |
|  BlackRock High Yield V.I. | For each of the two years in the period ended December 31, 2025 |
|  BlackRock Large Cap Focus Growth V.I. | For each of the two years in the period ended December 31, 2025 |
|  BNY Mellon IP Small Cap Stock Index | For each of the two years in the period ended December 31, 2025 |
|  BNY Mellon IP Technology Growth | For each of the two years in the period ended December 31, 2025 |

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| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
|  BNY Mellon VIF Appreciation | For each of the two years in the period ended December 31, 2025 |
|  Dimensional VA Global Moderate Allocation | For each of the two years in the period ended December 31, 2025 |
|  Dimensional VA International Small Portfolio | For each of the two years in the period ended December 31, 2025 |
|  Dimensional VA International Value Portfolio | For each of the two years in the period ended December 31, 2025 |
|  Dimensional VA Short-Term Fixed Portfolio | For each of the two years in the period ended December 31, 2025 |
|  Dimensional VA U.S. Large Value Portfolio | For each of the two years in the period ended December 31, 2025 |
|  Dimensional VA U.S. Targeted Value Portfolio | For each of the two years in the period ended December 31, 2025 |
|  Donoghue Forlines Dividend VIT Fund | For each of the two years in the period ended December 31, 2025 |
|  DWS Small Mid Cap Value VIP | For each of the two years in the period ended December 31, 2025 |
|  Eaton Vance VT Floating-Rate Income | For each of the two years in the period ended December 31, 2025 |
|  Federated Hermes Fund for U.S. Government Securities II | For each of the two years in the period ended December 31, 2025 |
|  Federated Hermes High Income Bond II | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Balanced | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Contrafund | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Disciplined Small Cap | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Emerging Markets | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Growth & Income | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Growth Opportunities | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP High Income | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Index 500 | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Investment Grade Bond | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Mid Cap | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Overseas | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Real Estate | For each of the two years in the period ended December 31, 2025 |
|  Fidelity<sup>®</sup> VIP Strategic Income | For each of the two years in the period ended December 31, 2025 |
|  Franklin DynaTech VIP | For each of the two years in the period ended December 31, 2025 |
|  Franklin Growth and Income VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Franklin Income VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Franklin Large Cap Growth VIP Fund | For each of the two years in the period ended December 31, 2025 |

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| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
|  Franklin Mutual Global Discovery VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Franklin Mutual Shares VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Franklin Rising Dividends VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Franklin Small Cap Value VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Franklin Small-Mid Cap Growth VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Franklin Strategic Income VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Franklin U.S. Government Securities VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Goldman Sachs VIT International Equity Insights | For each of the two years in the period ended December 31, 2025 |
|  Goldman Sachs VIT Mid Cap Growth Fund | For each of the two years in the period ended December 31, 2025 |
|  Goldman Sachs VIT Mid Cap Value | For each of the two years in the period ended December 31, 2025 |
|  Guggenheim VIF Floating Rate Strategies | For each of the two years in the period ended December 31, 2025 |
|  Guggenheim VIF Global Managed Futures Strategy | For each of the two years in the period ended December 31, 2025 |
|  Guggenheim VIF High Yield | For each of the two years in the period ended December 31, 2025 |
|  Guggenheim VIF Multi-Hedge Strategies | For each of the two years in the period ended December 31, 2025 |
|  Guggenheim VIF Total Return Bond | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. American Franchise Series I | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. American Value | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Balanced-Risk Allocation | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Comstock | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Core Equity | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Discovery Mid Cap Growth | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Equally-Weighted S&P 500 | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Equity and Income | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. EVQ International Equity Fund | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Global | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Global Real Estate | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Global Strategic Income | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Government Securities | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Health Care | For each of the two years in the period ended December 31, 2025 |

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##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
|  Invesco V.I. International Growth Fund | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Main Street Mid Cap Fund<sup>®</sup> | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Main Street Small Cap Fund<sup>®</sup> | For each of the two years in the period ended December 31, 2025 |
|  Invesco V.I. Small Cap Equity | For each of the two years in the period ended December 31, 2025 |
|  Janus Henderson VIT Enterprise | For each of the two years in the period ended December 31, 2025 |
|  Janus Henderson VIT Forty | For each of the two years in the period ended December 31, 2025 |
|  Janus Henderson VIT Overseas | For each of the two years in the period ended December 31, 2025 |
|  Janus Henderson VIT Research | For each of the two years in the period ended December 31, 2025 |
|  Lord Abbett Series Bond-Debenture VC | For each of the two years in the period ended December 31, 2025 |
|  Lord Abbett Series Developing Growth VC | For each of the two years in the period ended December 31, 2025 |
|  Lord Abbett Series Growth and Income VC | For each of the two years in the period ended December 31, 2025 |
|  Lord Abbett Series Growth Opportunities VC | For each of the two years in the period ended December 31, 2025 |
|  LVIP American Century Disciplined Core Value | For each of the two years in the period ended December 31, 2025 |
|  LVIP American Century Inflation Protection | For each of the two years in the period ended December 31, 2025 |
|  LVIP American Century International | For each of the two years in the period ended December 31, 2025 |
|  LVIP American Century Mid Cap Value | For each of the two years in the period ended December 31, 2025 |
|  LVIP American Century Value | For each of the two years in the period ended December 31, 2025 |
|  LVIP JPMorgan Core Bond Fund | For each of the two years in the period ended December 31, 2025 |
|  LVIP JPMorgan Small Cap Core Fund | For each of the two years in the period ended December 31, 2025 |
|  LVIP JPMorgan US Equity Fund | For each of the two years in the period ended December 31, 2025 |
|  MFS<sup>®</sup> VIT Global Tactical Allocation | For each of the two years in the period ended December 31, 2025 |
|  MFS<sup>®</sup> VIT II Research International | For each of the two years in the period ended December 31, 2025 |
|  MFS<sup>®</sup> VIT International Intrinsic Value | For each of the two years in the period ended December 31, 2025 |
|  MFS<sup>®</sup> VIT New Discovery | For each of the two years in the period ended December 31, 2025 |
|  MFS<sup>®</sup> VIT Research | For each of the two years in the period ended December 31, 2025 |
|  MFS<sup>®</sup> VIT Total Return | For each of the two years in the period ended December 31, 2025 |
|  MFS<sup>®</sup> VIT Total Return Bond | For each of the two years in the period ended December 31, 2025 |
|  MFS<sup>®</sup> VIT Utilities | For each of the two years in the period ended December 31, 2025 |

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| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
| Morningstar Aggressive Growth ETF Asset Allocation Portfolio | For each of the two years in the period ended December 31, 2025 |
| Morningstar Balanced ETF Asset Allocation Portfolio | For each of the two years in the period ended December 31, 2025 |
| Morningstar Conservative ETF Asset Allocation Portfolio | For each of the two years in the period ended December 31, 2025 |
| Morningstar Growth ETF Asset Allocation Portfolio | For each of the two years in the period ended December 31, 2025 |
| Morningstar Income and Growth ETF Asset Allocation Portfolio | For each of the two years in the period ended December 31, 2025 |
| NAA All Cap Value Series | For each of the two years in the period ended December 31, 2025 |
| NAA Large Cap Value Series | For each of the two years in the period ended December 31, 2025 |
| NAA Large Growth Series | For each of the two years in the period ended December 31, 2025 |
| NAA Mid Growth Series | For each of the two years in the period ended December 31, 2025 |
| NAA Small Cap Value Series | For each of the two years in the period ended December 31, 2025 |
| NAA Smid-Cap Value Series | For each of the two years in the period ended December 31, 2025 |
| NAA World Equity Income Series | For each of the two years in the period ended December 31, 2025 |
| Neuberger Berman AMT Quality Equity Portfolio | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Asset Strategy Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Balanced Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Energy Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Global Growth Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Growth Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP High Income Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP International Core Equity Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Limited-Term Bond Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Mid Cap Growth Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Natural Resources Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Science and Technology Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Small Cap Growth Series | For each of the two years in the period ended December 31, 2025 |
| Nomura VIP Smid Cap Core Series | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT All Asset | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT CommodityRealReturn Strategy | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT Emerging Markets Bond | For each of the two years in the period ended December 31, 2025 |

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| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
| PIMCO VIT Global Bond Opportunities Portfolio (Unhedged) | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT High Yield | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT International Bond Portfolio (Unhedged) | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT Low Duration Administrative | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT Low Duration Advisor | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT Real Return Administrative | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT Real Return Advisor | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT Short-Term | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT Total Return Administrative | For each of the two years in the period ended December 31, 2025 |
| PIMCO VIT Total Return Advisor | For each of the two years in the period ended December 31, 2025 |
| Putnam VT Core Equity Fund | For each of the two years in the period ended December 31, 2025 |
| Putnam VT Large Cap Growth Fund | For each of the two years in the period ended December 31, 2025 |
| Putnam VT Large Cap Value | For each of the two years in the period ended December 31, 2025 |
| Putnam VT Small Cap Growth | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Banking | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Basic Materials | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Biotechnology | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Commodities Strategy | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Consumer Products | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Dow 2x Strategy | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Electronics | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Energy | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Energy Services | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Europe 1.25x Strategy | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Financial Services | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Government Long Bond 1.2x Strategy | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Health Care | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Internet | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Inverse Government Long Bond Strategy | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Inverse Mid-Cap Strategy | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Inverse NASDAQ-100<sup>®</sup> Strategy | For each of the two years in the period ended December 31, 2025 |
| Rydex VIF Inverse Russell 2000<sup>®</sup> Strategy | For each of the two years in the period ended December 31, 2025 |

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| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
|  Rydex VIF Inverse S&P 500 Strategy | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Japan 2x Strategy | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Leisure | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Mid-Cap 1.5x Strategy | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Money Market | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF NASDAQ-100<sup>®</sup> | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF NASDAQ-100<sup>®</sup> 2x Strategy | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Nova | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Precious Metals | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Real Estate | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Retailing | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Russell 2000<sup>®</sup> 1.5x Strategy | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Russell 2000<sup>®</sup> 2x Strategy | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF S&P 500 2x Strategy | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF S&P 500 Pure Growth | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF S&P 500 Pure Value | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF S&P MidCap 400 Pure Growth | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF S&P MidCap 400 Pure Value | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF S&P SmallCap 600 Pure Growth | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF S&P SmallCap 600 Pure Value | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Strengthening Dollar 2x Strategy | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Technology | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Transportation | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Utilities | For each of the two years in the period ended December 31, 2025 |
|  Rydex VIF Weakening Dollar 2x Strategy | For each of the two years in the period ended December 31, 2025 |
| T. Rowe Price Blue Chip Growth | For each of the two years in the period ended December 31, 2025 |
| T. Rowe Price Equity Income | For each of the two years in the period ended December 31, 2025 |
| T. Rowe Price Health Sciences | For each of the two years in the period ended December 31, 2025 |
| T. Rowe Price Limited-Term Bond | For each of the two years in the period ended December 31, 2025 |
|  Templeton Developing Markets VIP Fund | For each of the two years in the period ended December 31, 2025 |

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| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
|  Templeton Foreign VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  Templeton Global Bond VIP Fund | For each of the two years in the period ended December 31, 2025 |
|  VanEck VIP Global Gold | For each of the two years in the period ended December 31, 2025 |
|  VanEck VIP Global Resources | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Balanced | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Capital Growth | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Conservative Allocation | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Diversified Value | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Equity Income | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Equity Index | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Global Bond Index | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Growth | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF High Yield Bond | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF International | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Mid-Cap Index | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Moderate Allocation | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Real Estate Index | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Short Term Investment Grade | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Small Company Growth | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Total Bond Market Index | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Total International Stock Market Index | For each of the two years in the period ended December 31, 2025 |
|  Vanguard<sup>®</sup> VIF Total Stock Market Index | For each of the two years in the period ended December 31, 2025 |
|  Victory Pioneer Bond VCT Portfolio | For each of the two years in the period ended December 31, 2025 |
|  Victory Pioneer Equity Income VCT Portfolio | For each of the two years in the period ended December 31, 2025 |
|  Victory Pioneer Strategic Income VCT Portfolio | For each of the two years in the period ended December 31, 2025 |
|  Virtus Duff & Phelps Real Estate Securities Series | For each of the two years in the period ended December 31, 2025 |
|  Virtus KAR Small-Cap Growth Series | For each of the two years in the period ended December 31, 2025 |
|  Virtus Newfleet Multi-Sector Intermediate Bond Series | For each of the two years in the period ended December 31, 2025 |
|  Virtus SGA International Growth Series | For each of the two years in the period ended December 31, 2025 |

---

------

##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| **Subaccounts** | **Statements of operations and changes in net assets** |
|  Voya MidCap Opportunities Portfolio | For each of the two years in the period ended December 31, 2025 |
|  VY CBRE Global Real Estate Portfolio | For each of the two years in the period ended December 31, 2025 |
|  VY CBRE Real Estate Portfolio | For each of the two years in the period ended December 31, 2025 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Net Assets

December 31, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Subaccount | Number of<br>Shares | Cost | Assets at<br>Market Value | Investment<br>Income<br>Receivable | Net Assets | Units<br>Outstanding | Range of Unit<br>Values | Range of Unit<br>Values |
|  AB VPS Discovery Value Portfolio |  | $— | $— | $— | $— |  | $14.61 | $18.67 |
|  AB VPS Relative Value Portfolio | 1371 | 40468 | 42291 |  | 42291 | 2237 | 18.91 | 18.91 |
|  AFIS Capital World Growth and Income | 8031 | 116402 | 143354 |  | 143354 | 7710 | 16.80 | 18.94 |
|  AFIS U.S. Government Securities | 88403 | 1020026 | 861047 |  | 861047 | 118187 | 7.14 | 8.05 |
|  AFIS Washington Mutual Investors | 72356 | 1005968 | 1269847 |  | 1269847 | 61214 | 20.12 | 22.70 |
|  Alger Capital Appreciation (b) | 4552 | 380011 | 505456 |  | 505456 | 11628 | 41.71 | 55.51 |
|  Alger Large Cap Growth | 624 | 55666 | 64371 |  | 64371 | 3459 | 18.15 | 18.82 |
|  Allspring Opportunity VT | 5214 | 125796 | 133996 |  | 133996 | 4962 | 26.97 | 26.97 |
|  Allspring VT Discovery All Cap Growth Fund | 5888 | 149507 | 122816 |  | 122816 | 4803 | 25.57 | 25.57 |
|  ALPS/Alerian Energy Infrastructure | 3521 | 44090 | 44256 |  | 44256 | 3696 | 11.93 | 13.64 |
|  American Funds IS<sup>®</sup> Asset Allocation | 25633 | 619578 | 686205 |  | 686205 | 42518 | 15.65 | 17.65 |
|  American Funds IS<sup>®</sup> Capital World Bond | 10076 | 116608 | 100052 |  | 100052 | 14628 | 6.14 | 6.92 |
|  American Funds IS<sup>®</sup> Global Growth | 10468 | 332493 | 393060 |  | 393060 | 18582 | 20.43 | 23.05 |
|  American Funds IS<sup>®</sup> Global Small Capitalization | 1208 | 27882 | 22921 |  | 22921 | 1822 | 11.91 | 13.44 |
|  American Funds IS<sup>®</sup> Growth | 13825 | 1699646 | 1857877 |  | 1857877 | 48302 | 35.32 | 39.84 |
|  American Funds IS<sup>®</sup> Growth-Income | 7362 | 387317 | 476829 |  | 476829 | 19515 | 23.64 | 26.66 |
|  American Funds IS<sup>®</sup> International | 2540 | 50109 | 55458 |  | 55458 | 4964 | 10.56 | 11.91 |
|  American Funds IS<sup>®</sup> International Growth and Income | 28799 | 308395 | 370641 |  | 370641 | 30397 | 10.93 | 12.33 |
|  American Funds IS<sup>®</sup> Mortgage |  |  |  |  |  |  | 7.16 | 7.16 |
|  American Funds IS<sup>®</sup> New World | 5639 | 141748 | 178821 |  | 178821 | 13791 | 12.66 | 14.28 |
|  BlackRock Advantage Large Cap Core V.I. | 1548 | 39493 | 41138 |  | 41138 | 1499 | 27.45 | 27.45 |
|  BlackRock Basic Value V.I. | 1759 | 23988 | 24060 |  | 24060 | 1349 | 17.85 | 17.85 |
|  BlackRock Equity Dividend V.I. | 26975 | 293355 | 309134 |  | 309134 | 15498 | 19.29 | 25.41 |
|  BlackRock Global Allocation V.I. | 8978 | 125401 | 119765 |  | 119765 | 9541 | 12.57 | 12.57 |
|  BlackRock High Yield V.I. | 71513 | 509234 | 503455 | 2685 | 506140 | 44042 | 10.83 | 12.36 |
|  BlackRock Large Cap Focus Growth V.I. | 3008 | 55928 | 62839 |  | 62839 | 1818 | 34.55 | 34.55 |
|  BNY Mellon IP Small Cap Stock Index | 5619 | 100978 | 101195 |  | 101195 | 5335 | 16.22 | 20.99 |
|  BNY Mellon IP Technology Growth | 16893 | 290935 | 295463 |  | 295463 | 7892 | 37.25 | 43.89 |
|  BNY Mellon VIF Appreciation | 362 | 12508 | 11837 |  | 11837 | 547 | 21.66 | 21.66 |
|  Dimensional VA Global Moderate Allocation |  |  |  |  |  |  | 12.99 | 12.99 |
|  Dimensional VA International Small Portfolio | 20401 | 243217 | 301532 |  | 301532 | 17605 | 14.66 | 17.51 |
|  Dimensional VA International Value Portfolio | 80886 | 1114783 | 1498823 |  | 1498823 | 88277 | 14.64 | 17.03 |
|  Dimensional VA Short-Term Fixed Portfolio | 18108 | 184683 | 182351 |  | 182351 | 23597 | 7.73 | 7.73 |
|  Dimensional VA U.S. Large Value Portfolio | 10030 | 268094 | 350158 |  | 350158 | 16949 | 17.84 | 23.46 |
|  Dimensional VA U.S. Targeted Value Portfolio | 31045 | 682998 | 691690 |  | 691690 | 29387 | 17.58 | 23.64 |
|  Donoghue Forlines Dividend VIT Fund | 737 | 11245 | 13549 |  | 13549 | 1291 | 10.49 | 10.49 |
|  DWS Small Mid Cap Value VIP |  |  |  |  |  |  | 16.42 | 16.42 |
|  Eaton Vance VT Floating-Rate Income | 28828 | 254108 | 241290 |  | 241290 | 23466 | 9.15 | 10.32 |
|  Federated Hermes Fund for U.S. Government Securities II | 17028 | 177184 | 158529 |  | 158529 | 23750 | 6.50 | 8.01 |
|  Federated Hermes High Income Bond II | 47801 | 282938 | 274855 |  | 274855 | 21446 | 10.04 | 14.88 |
|  Fidelity<sup>®</sup> VIP Balanced | 37150 | 739386 | 945472 |  | 945472 | 47829 | 19.34 | 23.50 |
|  Fidelity<sup>®</sup> VIP Contrafund | 35991 | 1599806 | 2046443 |  | 2046443 | 60161 | 30.58 | 44.51 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Net Assets (continued)

December 31, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Subaccount | Number of<br>Shares | Cost | Assets at<br>Market Value | Investment<br>Income<br>Receivable | Net Assets | Units<br>Outstanding | Range of Unit<br>Values | Range of Unit<br>Values |
|  Fidelity<sup>®</sup> VIP Disciplined Small Cap | 4435 | $80435 | $89544 | $– $| 89544 | 4531 | $17.93 | $24.70 |
|  Fidelity<sup>®</sup> VIP Emerging Markets | 56946 | 770842 | 902600 | – | 902600 | 57491 | 15.35 | 16.49 |
|  Fidelity<sup>®</sup> VIP Growth & Income | 22345 | 506769 | 714814 | – | 714814 | 23414 | 24.35 | 35.98 |
|  Fidelity<sup>®</sup> VIP Growth Opportunities | 9153 | 493460 | 882354 | – | 882354 | 18125 | 45.97 | 59.70 |
|  Fidelity<sup>®</sup> VIP High Income | 8505 | 41176 | 39206 | – | 39206 | 3900 | 9.80 | 11.07 |
|  Fidelity<sup>®</sup> VIP Index 500 | 2978 | 1197337 | 1936039 | – | 1936039 | 63189 | 28.17 | 34.04 |
|  Fidelity<sup>®</sup> VIP Investment Grade Bond | 42807 | 534388 | 469590 | – | 469590 | 55148 | 7.74 | 9.67 |
|  Fidelity<sup>®</sup> VIP Mid Cap | 2272 | 79540 | 79898 | – | 79898 | 3681 | 18.46 | 22.35 |
|  Fidelity<sup>®</sup> VIP Overseas | 5327 | 120936 | 144460 | – | 144460 | 10259 | 13.41 | 15.01 |
|  Fidelity<sup>®</sup> VIP Real Estate | 3588 | 66978 | 62511 | – | 62511 | 5153 | 10.25 | 13.97 |
|  Fidelity<sup>®</sup> VIP Strategic Income | 18636 | 207095 | 206297 | – | 206297 | 22336 | 9.17 | 10.63 |
|  Franklin DynaTech VIP | 6659 | 37927 | 43814 | – | 43814 | 1338 | 28.05 | 33.85 |
|  Franklin Growth and Income VIP Fund | 58892 | 527284 | 432859 | – | 432859 | 19211 | 19.83 | 26.83 |
|  Franklin Income VIP Fund | 19517 | 290448 | 295880 | – | 295880 | 24373 | 12.07 | 14.87 |
|  Franklin Large Cap Growth VIP Fund | 21517 | 437953 | 385807 | – | 385807 | 15284 | 25.24 | 33.06 |
|  Franklin Mutual Global Discovery VIP Fund | 8843 | 169165 | 168542 | – | 168542 | 9494 | 14.57 | 18.86 |
|  Franklin Mutual Shares VIP Fund | 4740 | 87910 | 76316 | – | 76316 | 4353 | 17.53 | 17.53 |
|  Franklin Rising Dividends VIP Fund | 29221 | 791763 | 819351 | – | 819351 | 30449 | 20.85 | 29.32 |
|  Franklin Small Cap Value VIP Fund | 10036 | 138206 | 139200 | – | 139200 | 8014 | 15.71 | 20.88 |
|  Franklin Small-Mid Cap Growth VIP Fund | 22857 | 361864 | 327082 | – | 327082 | 16307 | 17.75 | 41.88 |
|  Franklin Strategic Income VIP Fund |  |  |  | – |  |  | 7.88 | 7.88 |
|  Franklin U.S. Government Securities VIP Fund | 11444 | 131619 | 120157 | – | 120157 | 17408 | 6.75 | 7.41 |
|  Goldman Sachs VIT International Equity Insights | 1036 | 8651 | 10837 | – | 10837 | 724 | 12.93 | 14.89 |
|  Goldman Sachs VIT Mid Cap Growth Fund | 84155 | 1032101 | 823882 | – | 823882 | 31245 | 20.45 | 27.23 |
|  Goldman Sachs VIT Mid Cap Value | 13913 | 230935 | 230128 | – | 230128 | 13010 | 16.46 | 21.74 |
|  Guggenheim VIF Floating Rate Strategies | 6693 | 170215 | 157349 | – | 157349 | 16939 | 9.17 | 10.34 |
|  Guggenheim VIF Global Managed Futures Strategy | 3504 | 58191 | 58931 | – | 58931 | 10684 | 5.19 | 7.38 |
|  Guggenheim VIF High Yield | 1133 | 31482 | 28023 | – | 28023 | 2763 | 10.14 | 10.14 |
|  Guggenheim VIF Multi-Hedge Strategies | 626 | 15145 | 14689 | – | 14689 | 2104 | 5.18 | 7.23 |
|  Guggenheim VIF Total Return Bond | 94218 | 1352438 | 1385953 | – | 1385953 | 143215 | 8.82 | 9.79 |
|  Invesco V.I. American Franchise Series I | 1511 | 101154 | 122380 | – | 122380 | 5194 | 23.45 | 23.45 |
|  Invesco V.I. American Value | 1096 | 18170 | 19464 | – | 19464 | 990 | 19.66 | 19.66 |
|  Invesco V.I. Balanced-Risk Allocation | 2134 | 21348 | 17924 | – | 17924 | 1669 | 10.74 | 10.74 |
|  Invesco V.I. Comstock | 214 | 4585 | 4552 | – | 4552 | 232 | 19.62 | 19.62 |
|  Invesco V.I. Core Equity | 2716 | 87428 | 97137 | – | 97137 | 3828 | 25.38 | 25.38 |
|  Invesco V.I. Discovery Mid Cap Growth | 81 | 5489 | 5106 | – | 5106 | 275 | 18.57 | 18.57 |
|  Invesco V.I. Equally-Weighted S&P 500 | 12211 | 333633 | 334575 | – | 334575 | 27710 | 11.71 | 12.15 |
|  Invesco V.I. Equity and Income | 1476 | 26328 | 26750 | – | 26750 | 1791 | 14.95 | 14.95 |
|  Invesco V.I. EVQ International Equity Fund | 6116 | 200652 | 216439 | – | 216439 | 19684 | 10.82 | 12.08 |
|  Invesco V.I. Global | 3265 | 124986 | 118535 | – | 118535 | 5735 | 18.96 | 23.48 |
|  Invesco V.I. Global Real Estate | 1265 | 20010 | 17459 | – | 17459 | 1728 | 10.07 | 10.07 |
|  Invesco V.I. Global Strategic Income | 23696 | 117690 | 111844 | – | 111844 | 14440 | 7.69 | 8.79 |
|  Invesco V.I. Government Securities | 47 | 495 | 498 | – | 498 | 78 | 6.40 | 6.40 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Net Assets (continued)

December 31, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Subaccount | Number of<br>Shares | Cost | Assets at<br>Market Value | Investment<br>Income<br>Receivable | Net Assets | Units<br>Outstanding | Range of Unit<br>Values | Range of Unit<br>Values |
|  Invesco V.I. Health Care | 2545 | $66429 | $69187 | $– $| 69187 | 4692 | $14.71 | $22.13 |
|  Invesco V.I. International Growth Fund (a) | 58192 | 130701 | 120457 | – | 120457 | 9787 | 10.44 | 13.19 |
|  Invesco V.I. Main Street Mid Cap Fund<sup>®</sup> | 10329 | 107930 | 108454 | – | 108454 | 6714 | 14.99 | 18.89 |
|  Invesco V.I. Main Street Small Cap Fund<sup>®</sup> | 10421 | 262079 | 288778 | – | 288778 | 14670 | 18.18 | 21.12 |
|  Invesco V.I. Small Cap Equity | 2508 | 42939 | 44719 | – | 44719 | 2941 | 15.21 | 15.21 |
|  Janus Henderson VIT Enterprise | 4092 | 274237 | 300160 | – | 300160 | 11431 | 24.30 | 32.64 |
|  Janus Henderson VIT Forty | 5531 | 273835 | 286905 | – | 286905 | 8060 | 35.59 | 35.59 |
|  Janus Henderson VIT Overseas | 8808 | 333598 | 467014 | – | 467014 | 45359 | 10.03 | 12.27 |
|  Janus Henderson VIT Research | 1893 | 73316 | 115933 | – | 115933 | 2905 | 32.79 | 42.97 |
|  Lord Abbett Series Bond-Debenture VC | 33445 | 393036 | 354855 | – | 354855 | 35398 | 9.82 | 12.10 |
|  Lord Abbett Series Developing Growth VC | 3192 | 104835 | 106694 | – | 106694 | 5273 | 18.36 | 25.41 |
|  Lord Abbett Series Growth and Income VC | 3112 | 115684 | 130576 | – | 130576 | 6801 | 19.20 | 19.20 |
|  Lord Abbett Series Growth Opportunities VC | 1991 | 23094 | 22118 | – | 22118 | 1032 | 19.27 | 23.12 |
|  LVIP American Century Disciplined Core Value | 9010 | 77938 | 87168 | – | 87168 | 3452 | 25.23 | 25.23 |
|  LVIP American Century Inflation Protection | 5248 | 54625 | 47423 | – | 47423 | 6076 | 7.81 | 7.81 |
|  LVIP American Century International | 2820 | 32028 | 34486 | – | 34486 | 3064 | 11.25 | 11.25 |
|  LVIP American Century Mid Cap Value (b) | 27971 | 582429 | 542491 | – | 542491 | 23486 | 16.78 | 23.30 |
|  LVIP American Century Value | 5740 | 63188 | 74254 | – | 74254 | 3554 | 17.62 | 24.75 |
|  LVIP JPMorgan Core Bond Fund | 1846 | 19727 | 18102 | – | 18102 | 2461 | 7.34 | 7.34 |
|  LVIP JPMorgan Small Cap Core Fund | 2659 | 57308 | 57470 | – | 57470 | 3704 | 15.51 | 15.51 |
|  LVIP JPMorgan US Equity Fund | 461 | 19767 | 22285 | – | 22285 | 769 | 28.97 | 28.97 |
|  MFS<sup>®</sup> VIT Global Tactical Allocation |  |  |  | – |  |  | 10.06 | 11.35 |
|  MFS<sup>®</sup> VIT II Research International | 3271 | 54218 | 66301 | – | 66301 | 5705 | 11.60 | 11.60 |
|  MFS<sup>®</sup> VIT International Intrinsic Value | 5052 | 132598 | 182626 | – | 182626 | 11016 | 15.86 | 17.89 |
|  MFS<sup>®</sup> VIT New Discovery | 5172 | 61157 | 62575 | – | 62575 | 3306 | 16.18 | 20.46 |
|  MFS<sup>®</sup> VIT Research | 1900 | 54250 | 56690 | – | 56690 | 2445 | 23.18 | 23.18 |
|  MFS<sup>®</sup> VIT Total Return | 1515 | 34302 | 34306 | – | 34306 | 2542 | 13.49 | 13.49 |
|  MFS<sup>®</sup> VIT Total Return Bond |  |  |  | – |  |  | 8.97 | 8.97 |
|  MFS<sup>®</sup> VIT Utilities | 880 | 27142 | 32419 | – | 32419 | 2284 | 14.20 | 14.20 |
|  Morningstar Aggressive Growth ETF Asset Allocation Portfolio |  |  |  | – |  |  | 16.92 | 16.92 |
|  Morningstar Balanced ETF Asset Allocation Portfolio | 70745 | 772476 | 795886 | – | 795886 | 63010 | 12.52 | 14.46 |
|  Morningstar Conservative ETF Asset Allocation Portfolio | 69580 | 745762 | 752161 | – | 752161 | 89421 | 8.42 | 8.42 |
|  Morningstar Growth ETF Asset Allocation Portfolio | 15558 | 175451 | 207700 | – | 207700 | 13866 | 15.00 | 15.00 |
|  Morningstar Income and Growth ETF Asset Allocation Portfolio | 4500 | 44374 | 46850 | – | 46850 | 4206 | 10.35 | 11.96 |
|  NAA All Cap Value Series | 4782 | 151237 | 142509 | – | 142509 | 7053 | 17.46 | 32.91 |
|  NAA Large Cap Value Series | 5606 | 224119 | 214027 | – | 214027 | 6657 | 32.15 | 32.15 |
|  NAA Large Growth Series | 3849 | 80807 | 86841 | – | 86841 | 2141 | 38.55 | 45.19 |
|  NAA Mid Growth Series | 551 | 26756 | 27355 | – | 27355 | 654 | 41.82 | 41.82 |
|  NAA Small Cap Value Series | 870 | 36376 | 31885 | – | 31885 | 1147 | 20.50 | 35.78 |
|  NAA Smid-Cap Value Series | 806 | 56600 | 49492 | – | 49492 | 1461 | 32.86 | 37.16 |

---

(a) Name change. See Note 1.

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Net Assets (continued)

December 31, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Subaccount | Number of<br>Shares | Cost | Assets at<br>Market Value | Investment<br>Income<br>Receivable | Net Assets | Units<br>Outstanding | Range of Unit<br>Values | Range of Unit<br>Values |
|  NAA World Equity Income Series | 3517 | $44895 | $52926 | $– $| 52926 | 2708 | $19.53 | $19.53 |
|  Neuberger Berman AMT Quality Equity Portfolio (a) | 9842 | 283781 | 420831 | – | 420831 | 19994 | 17.77 | 30.52 |
|  Nomura VIP Asset Strategy Series (a) | 64356 | 553090 | 643564 | – | 643564 | 52223 | 12.32 | 12.32 |
|  Nomura VIP Balanced Series (a) | 5451 | 37181 | 35594 | – | 35594 | 2346 | 15.17 | 15.17 |
|  Nomura VIP Energy Series (a) | 1051 | 5555 | 5443 | – | 5443 | 1043 | 5.22 | 5.23 |
|  Nomura VIP Global Growth Series (a) | 13049 | 55481 | 50108 | – | 50108 | 2278 | 18.83 | 21.97 |
|  Nomura VIP Growth Series (a) | 2853 | 26230 | 27220 | – | 27220 | 601 | 45.26 | 46.11 |
|  Nomura VIP High Income Series (a) | 7294 | 24745 | 21370 | – | 21370 | 1625 | 13.12 | 13.12 |
|  Nomura VIP International Core Equity Series (a) | 2436 | 41402 | 47348 | – | 47348 | 3747 | 12.63 | 12.63 |
|  Nomura VIP Limited+Term Bond Series (a) |  |  |  | – |  |  | 7.29 | 8.09 |
|  Nomura VIP Mid Cap Growth Series (a) | 11842 | 115689 | 91418 | – | 91418 | 4489 | 18.08 | 22.86 |
|  Nomura VIP Natural Resources Series (a) | 846 | 3453 | 5187 | – | 5187 | 704 | 7.35 | 7.35 |
|  Nomura VIP Science And Technology Series (a) | 4804 | 130606 | 156907 | – | 156907 | 3406 | 34.63 | 51.29 |
|  Nomura VIP Small Cap Growth Series (a) | 11519 | 88052 | 85818 | – | 85818 | 5223 | 16.10 | 17.71 |
|  Nomura VIP Smid Cap Core Series (a) | 267 | 3747 | 3610 | – | 3610 | 220 | 16.43 | 16.43 |
|  PIMCO VIT All Asset | 2609 | 26010 | 25460 | – | 25460 | 2475 | 10.29 | 11.95 |
|  PIMCO VIT CommodityRealReturn Strategy | 23774 | 152426 | 152632 | – | 152632 | 28766 | 5.27 | 6.33 |
|  PIMCO VIT Emerging Markets Bond | 25599 | 298231 | 292343 | – | 292343 | 26444 | 9.36 | 11.19 |
|  PIMCO VIT Global Bond Opportunities Portfolio (Unhedged) | 598 | 7027 | 5956 | – | 5956 | 593 | 10.05 | 10.05 |
|  PIMCO VIT High Yield |  |  |  | – |  |  | 10.34 | 19.17 |
|  PIMCO VIT International Bond Portfolio (Unhedged) | 8095 | 70576 | 60873 | – | 60873 | 9573 | 5.97 | 6.49 |
|  PIMCO VIT Low Duration Administrative | 14397 | 138020 | 140806 | – | 140806 | 19792 | 7.11 | 7.11 |
|  PIMCO VIT Low Duration Advisor | 28948 | 293460 | 283116 | – | 283116 | 39637 | 6.98 | 7.65 |
|  PIMCO VIT Real Return Administrative | 20077 | 256608 | 241122 | – | 241122 | 27478 | 8.77 | 8.77 |
|  PIMCO VIT Real Return Advisor | 13732 | 163957 | 164920 | – | 164920 | 19427 | 7.71 | 8.88 |
|  PIMCO VIT Short-Term | 64996 | 667487 | 671407 | – | 671407 | 80960 | 7.67 | 8.58 |
|  PIMCO VIT Total Return Administrative | 32041 | 330941 | 302786 | – | 302786 | 34793 | 8.70 | 8.70 |
|  PIMCO VIT Total Return Advisor | 50349 | 525176 | 475797 | – | 475797 | 59944 | 7.60 | 8.72 |
|  Putnam VT Core Equity Fund |  |  |  | – |  |  | 29.83 | 29.83 |
|  Putnam VT Large Cap Growth Fund | 28946 | 295213 | 508876 | – | 508876 | 12849 | 39.33 | 48.73 |
|  Putnam VT Large Cap Value | 13943 | 376451 | 497634 | – | 497634 | 19173 | 24.07 | 30.34 |
|  Putnam VT Small Cap Growth | 16757 | 354307 | 361104 | – | 361104 | 15691 | 18.88 | 23.62 |
|  Rydex VIF Banking | 633 | 51424 | 90601 | – | 90601 | 6913 | 7.69 | 14.74 |
|  Rydex VIF Basic Materials | 1168 | 102770 | 137880 | – | 137880 | 7558 | 15.59 | 19.36 |
|  Rydex VIF Biotechnology | 2728 | 240073 | 252838 | – | 252838 | 13318 | 15.58 | 34.06 |
|  Rydex VIF Commodities Strategy | 566 | 47991 | 50633 | – | 50633 | 19832 | 1.75 | 3.93 |
|  Rydex VIF Consumer Products | 727 | 46751 | 44667 | – | 44667 | 3665 | 10.56 | 17.91 |
|  Rydex VIF Dow 2x Strategy (b) | 392 | 56309 | 106369 | – | 106369 | 2676 | 39.69 | 46.82 |
|  Rydex VIF Electronics | 1334 | 155858 | 285876 | – | 285876 | 12287 | 23.23 | 23.23 |
|  Rydex VIF Energy | 529 | 119459 | 133737 | – | 133737 | 18409 | 5.64 | 8.03 |

---

(a) Name change. See Note 1.

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Net Assets (continued)

December 31, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Subaccount | Number of<br>Shares | Cost | Assets at<br>Market Value | Investment<br>Income<br>Receivable | Net Assets | Units<br>Outstanding | Range of Unit<br>Values | Range of Unit<br>Values |
|  Rydex VIF Energy Services | 53 | $24387 | $16164 | $– $| 16164 | 8674 | $1.86 | $1.86 |
|  Rydex VIF Europe 1.25x Strategy (b) |  | 23 | 35 | – | 35 | 4 | 7.96 | 7.96 |
|  Rydex VIF Financial Services | 254 | 24338 | 31569 | – | 31569 | 2874 | 11.00 | 11.00 |
|  Rydex VIF Government Long Bond 1.2x Strategy (b) | 36 | 8728 | 6354 | – | 6354 | 1062 | 5.96 | 5.96 |
|  Rydex VIF Health Care | 1954 | 133091 | 156001 | – | 156001 | 8449 | 17.33 | 25.16 |
|  Rydex VIF Internet | 1597 | 154726 | 177388 | – | 177388 | 9256 | 16.81 | 33.34 |
|  Rydex VIF Inverse Government Long Bond Strategy |  |  |  | – |  |  | 1.52 | 1.52 |
|  Rydex VIF Inverse Mid-Cap Strategy |  |  |  | – |  |  | 0.29 | 0.53 |
|  Rydex VIF Inverse NASDAQ-100<sup>®</sup> Strategy |  |  |  | – |  |  | 0.10 | 0.10 |
|  Rydex VIF Inverse Russell 2000<sup>®</sup> Strategy (b) | 3 | 777 | 317 | – | 317 | 1198 | 0.27 | 0.27 |
|  Rydex VIF Inverse S&P 500 Strategy (b) | 28 | 4695 | 2529 | – | 2529 | 5023 | 0.51 | 0.51 |
|  Rydex VIF Japan 2x Strategy (b) | 693 | 56934 | 76313 | – | 76313 | 5271 | 13.13 | 14.50 |
|  Rydex VIF Leisure | 445 | 45857 | 60745 | – | 60745 | 4235 | 14.25 | 14.37 |
|  Rydex VIF Mid-Cap 1.5x Strategy (b) | 298 | 74192 | 73409 | – | 73409 | 3472 | 20.16 | 34.56 |
|  Rydex VIF Money Market | 4891224 | 4891223 | 4891224 | – | 4891224 | 925455 | 4.44 | 6.54 |
|  Rydex VIF NASDAQ-100<sup>®</sup> | 2986 | 202416 | 288843 | – | 288843 | 5499 | 43.26 | 63.74 |
|  Rydex VIF NASDAQ-100<sup>®</sup> 2x Strategy (b) | 84 | 11891 | 18772 | – | 18772 | 141 | 120.70 | 164.91 |
|  Rydex VIF Nova (b) | 177 | 21592 | 45451 | – | 45451 | 1172 | 34.00 | 40.29 |
|  Rydex VIF Precious Metals | 3219 | 108784 | 312512 | – | 312512 | 14256 | 21.50 | 22.94 |
|  Rydex VIF Real Estate | 1573 | 58955 | 60019 | – | 60019 | 4811 | 9.59 | 13.75 |
|  Rydex VIF Retailing | 247 | 33330 | 34891 | – | 34891 | 1865 | 16.24 | 23.03 |
|  Rydex VIF Russell 2000<sup>®</sup> 1.5x Strategy (b) | 3 | 223 | 219 | – | 219 | 11 | 20.54 | 20.54 |
|  Rydex VIF Russell 2000<sup>®</sup> 2x Strategy (b) | 2 | 300 | 289 | – | 289 | 25 | 11.40 | 11.40 |
|  Rydex VIF S&P 500 2x Strategy (b) | 591 | 146330 | 357584 | – | 357584 | 6050 | 47.23 | 59.29 |
|  Rydex VIF S&P 500 Pure Growth | 3243 | 170946 | 180938 | – | 180938 | 7869 | 20.09 | 24.61 |
|  Rydex VIF S&P 500 Pure Value | 9281 | 428899 | 611040 | – | 611040 | 34583 | 15.46 | 19.00 |
|  Rydex VIF S&P MidCap 400 Pure Growth | 1873 | 69818 | 72528 | – | 72528 | 3707 | 12.80 | 21.97 |
|  Rydex VIF S&P MidCap 400 Pure Value | 3781 | 167885 | 182225 | – | 182225 | 9480 | 16.51 | 21.84 |
|  Rydex VIF S&P SmallCap 600 Pure Growth | 275 | 14101 | 15781 | – | 15781 | 905 | 17.44 | 17.44 |
|  Rydex VIF S&P SmallCap 600 Pure Value | 570 | 37212 | 50029 | – | 50029 | 3349 | 14.93 | 14.93 |
|  Rydex VIF Strengthening Dollar 2x Strategy (b) | 29 | 1492 | 1236 | – | 1236 | 304 | 4.07 | 4.07 |
|  Rydex VIF Technology | 8078 | 1267839 | 1964991 | – | 1964991 | 58320 | 24.29 | 44.41 |
|  Rydex VIF Transportation | 166 | 19313 | 16672 | – | 16672 | 1076 | 15.42 | 18.51 |
|  Rydex VIF Utilities | 2339 | 72117 | 101083 | – | 101083 | 7893 | 11.18 | 17.91 |
|  Rydex VIF Weakening Dollar 2x Strategy (b) | 1 | 108 | 108 | – | 108 | 45 | 2.37 | 2.37 |
| T. Rowe Price Blue Chip Growth | 11592 | 526001 | 703844 | – | 703844 | 17990 | 34.23 | 47.99 |
| T. Rowe Price Equity Income | 4320 | 124401 | 123799 | – | 123799 | 6213 | 16.57 | 22.56 |
| T. Rowe Price Health Sciences | 4597 | 217768 | 248389 | – | 248389 | 9817 | 22.83 | 39.68 |
| T. Rowe Price Limited-Term Bond | 21728 | 102558 | 102775 | – | 102775 | 13683 | 7.16 | 7.73 |
|  Templeton Developing Markets VIP Fund | 50801 | 447126 | 613679 | – | 613679 | 28172 | 11.96 | 24.34 |
|  Templeton Foreign VIP Fund | 13869 | 192400 | 224962 | – | 224962 | 18740 | 9.64 | 16.99 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Net Assets (continued)

December 31, 2025

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Subaccount | Number of<br>Shares | Cost | Assets at<br>Market Value | Investment<br>Income<br>Receivable | Net Assets | Units<br>Outstanding | Range of Unit<br>Values | Range of Unit<br>Values |
|  Templeton Global Bond VIP Fund | 6245 | $96548 | $82240 | $– $| 82240 | 14091 | $5.68 | $6.56 |
|  VanEck VIP Global Gold | 30230 | 561375 | 735790 | – | 735790 | 30025 | 24.28 | 24.54 |
|  VanEck VIP Global Resources | 909 | 22663 | 29056 | – | 29056 | 4396 | 6.14 | 7.47 |
|  Vanguard<sup>®</sup> VIF Balanced | 8854 | 198445 | 224982 | – | 224982 | 13368 | 15.73 | 17.97 |
|  Vanguard<sup>®</sup> VIF Capital Growth | 2670 | 126568 | 165076 | – | 165076 | 6532 | 24.52 | 28.27 |
|  Vanguard<sup>®</sup> VIF Conservative Allocation | 1427 | 32733 | 37767 | – | 37767 | 2991 | 11.05 | 12.62 |
|  Vanguard<sup>®</sup> VIF Diversified Value | 60465 | 889664 | 1056332 | – | 1056332 | 50698 | 20.83 | 20.83 |
|  Vanguard<sup>®</sup> VIF Equity Income | 35418 | 799840 | 928668 | – | 928668 | 50343 | 18.01 | 20.57 |
|  Vanguard<sup>®</sup> VIF Equity Index | 35824 | 1947399 | 2936132 | – | 2936132 | 109490 | 23.69 | 27.06 |
|  Vanguard<sup>®</sup> VIF Global Bond Index | 486 | 10243 | 9157 | – | 9157 | 1143 | 8.01 | 8.01 |
|  Vanguard<sup>®</sup> VIF Growth | 11651 | 334890 | 427353 | – | 427353 | 16228 | 26.03 | 29.73 |
|  Vanguard<sup>®</sup> VIF High Yield Bond | 15787 | 120044 | 119193 | – | 119193 | 10735 | 10.45 | 11.94 |
|  Vanguard<sup>®</sup> VIF International | 29825 | 773542 | 852705 | – | 852705 | 47138 | 16.26 | 18.57 |
|  Vanguard<sup>®</sup> VIF Mid-Cap Index | 24999 | 565539 | 698970 | – | 698970 | 38167 | 16.77 | 19.15 |
|  Vanguard<sup>®</sup> VIF Moderate Allocation | 62445 | 1855633 | 2078171 | – | 2078171 | 138759 | 13.26 | 15.15 |
|  Vanguard<sup>®</sup> VIF Real Estate Index | 8612 | 102438 | 99639 | – | 99639 | 8735 | 10.31 | 11.78 |
|  Vanguard<sup>®</sup> VIF Short Term Investment Grade | 81033 | 825969 | 864625 | – | 864625 | 98011 | 8.09 | 9.24 |
|  Vanguard<sup>®</sup> VIF Small Company Growth (b) | 4075 | 84535 | 77714 | – | 77714 | 5046 | 15.04 | 17.17 |
|  Vanguard<sup>®</sup> VIF Total Bond Market Index | 234136 | 2533533 | 2528670 | – | 2528670 | 304969 | 7.42 | 8.47 |
|  Vanguard<sup>®</sup> VIF Total International Stock Market Index | 10630 | 215535 | 285509 | – | 285509 | 21138 | 12.77 | 14.06 |
|  Vanguard<sup>®</sup> VIF Total Stock Market Index | 39559 | 1772140 | 2410353 | – | 2410353 | 96582 | 22.53 | 25.72 |
|  Victory Pioneer Bond VCT Portfolio (a) | 17680 | 185025 | 173267 | – | 173267 | 21610 | 8.02 | 8.02 |
|  Victory Pioneer Equity Income VCT Portfolio (a) | 1347 | 24844 | 16662 | – | 16662 | 985 | 16.92 | 16.92 |
|  Victory Pioneer Strategic Income VCT Portfolio (a) | 8942 | 89591 | 83786 | – | 83786 | 9797 | 8.55 | 8.55 |
|  Virtus Duff & Phelps Real Estate Securities Series | 824 | 17904 | 16860 | – | 16860 | 1313 | 12.83 | 12.83 |
|  Virtus KAR Small-Cap Growth Series | 11106 | 327825 | 170141 | – | 170141 | 7942 | 20.39 | 22.99 |
|  Virtus Newfleet Multi-Sector Intermediate Bond Series |  |  |  | – |  |  | 9.03 | 9.97 |
|  Virtus SGA International Growth Series | 4142 | 56941 | 55302 | – | 55302 | 6515 | 8.49 | 8.49 |
|  Voya MidCap Opportunities Portfolio | 20889 | 96083 | 68517 | – | 68517 | 3653 | 18.76 | 18.76 |
|  VY CBRE Global Real Estate Portfolio | 1124 | 12791 | 11743 | – | 11743 | 1147 | 9.04 | 10.43 |
|  VY CBRE Real Estate Portfolio | 908 | 25167 | 25072 | – | 25072 | 1873 | 13.38 | 13.38 |

---

(a) Name change. See Note 1.

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **AB VPS Discovery<br>Value Portfolio** | **AB VPS Relative<br>Value Portfolio** | **AFIS Capital<br>World Growth and<br>Income** |
|  Net assets as of December 31, 2023 | $3784 | $35040 | $160448 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 483 | 2685 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3) | (483) | (1248) |
|  Net investment income (loss) | (3) |  | 1437 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 1360 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (279) | 27 | 35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 255 | 2588 | 19201 |
|  Net gain (loss) on investments | (24) | 3975 | 19236 |
|  Net increase (decrease) in net assets from operations | (27) | 3975 | 20673 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3786) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 34 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (5) | (76) | (234) |
|  Increase (decrease) in net assets from contract transactions | (3757) | (76) | (234) |
|  Total increase (decrease) in net assets | (3784) | 3899 | 20439 |
|  Net assets as of December 31, 2024 | $— | $38939 | $180887 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 359 | 1759 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges |  | (505) | (1089) |
|  Net investment income (loss) |  | (146) | 670 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 3355 | 7263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments |  | 25 | 10593 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) |  | 198 | 18717 |
|  Net gain (loss) on investments |  | 3578 | 36573 |
|  Net increase (decrease) in net assets from operations |  | 3432 | 37243 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  |  | (74517) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments |  | (80) | (263) |
|  Increase (decrease) in net assets from contract transactions |  | (80) | (74776) |
|  Total increase (decrease) in net assets |  | 3352 | (37533) |
|  Net assets as of December 31, 2025 | $— | $42291 | $143354 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **AFIS U.S.<br>Government<br>Securities** | **AFIS Washington<br>Mutual Investors** | **Alger Capital<br>Appreciation(b)** |
|  Net assets as of December 31, 2023 | $713432 | $909260 | $520741 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 30654 | 14357 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (8812) | (10374) | (7577) |
|  Net investment income (loss) | 21842 | 3983 | (7577) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 8240 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (11711) | 6556 | 4182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (16564) | 140387 | 242920 |
|  Net gain (loss) on investments | (28275) | 155183 | 247102 |
|  Net increase (decrease) in net assets from operations | (6433) | 159166 | 239525 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 1872 |  | 720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (41849) | (29865) | (14029) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 146258 | (292) | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1125) | (1353) | (625) |
|  Increase (decrease) in net assets from contract transactions | 105156 | (31510) | (13950) |
|  Total increase (decrease) in net assets | 98723 | 127656 | 225575 |
|  Net assets as of December 31, 2024 | $812155 | $1036916 | $746316 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 34831 | 14770 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (9059) | (11525) | (7960) |
|  Net investment income (loss) | 25772 | 3245 | (7960) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 81171 | 89901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (2200) | 9803 | 184463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 28216 | 75878 | (55620) |
|  Net gain (loss) on investments | 26016 | 166852 | 218744 |
|  Net increase (decrease) in net assets from operations | 51788 | 170097 | 210784 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 1872 | 105819 | 8237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3549) | (41939) | (457186) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | 377 | (2120) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1219) | (1423) | (575) |
|  Increase (decrease) in net assets from contract transactions | (2896) | 62834 | (451644) |
|  Total increase (decrease) in net assets | 48892 | 232931 | (240860) |
|  Net assets as of December 31, 2025 | $861047 | $1269847 | $505456 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Alger Large Cap<br>Growth** | **Allspring<br>Opportunity VT** | **Allspring VT<br>Discovery All Cap<br>Growth Fund** |
|  Net assets as of December 31, 2023 | $30600 | $135911 | $90662 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 67 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (205) | (1997) | (1278) |
|  Net investment income (loss) | (205) | (1930) | (1278) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 14114 | 4943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 9104 | 1702 | (111) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2671 | 3883 | 14099 |
|  Net gain (loss) on investments | 11775 | 19699 | 18931 |
|  Net increase (decrease) in net assets from operations | 11570 | 17769 | 17653 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (27359) | (10338) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (476) | (2909) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (105) | (194) | (206) |
|  Increase (decrease) in net assets from contract transactions | (27940) | (13441) | (206) |
|  Total increase (decrease) in net assets | (16370) | 4328 | 17447 |
|  Net assets as of December 31, 2024 | $14230 | $140239 | $108109 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 70 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (265) | (1900) | (1446) |
|  Net investment income (loss) | (265) | (1830) | (1446) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 6926 | 14153 | 40543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 159 | 1082 | (207) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 3660 | (6503) | (23951) |
|  Net gain (loss) on investments | 10745 | 8732 | 16385 |
|  Net increase (decrease) in net assets from operations | 10480 | 6902 | 14939 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 12903 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1342) | (10685) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 28246 | (2259) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (146) | (201) | (232) |
|  Increase (decrease) in net assets from contract transactions | 39661 | (13145) | (232) |
|  Total increase (decrease) in net assets | 50141 | (6243) | 14707 |
|  Net assets as of December 31, 2025 | $64371 | $133996 | $122816 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **ALPS/Alerian<br>Energy<br>Infrastructure** | **American Funds<br>IS<sup>®</sup> Asset<br>Allocation** | **American Funds<br>IS<sup>®</sup> Capital World<br>Bond** |
|  Net assets as of December 31, 2023 | $81835 | $713213 | $99000 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1508 | 12275 | 1794 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (580) | (6714) | (352) |
|  Net investment income (loss) | 928 | 5561 | 1442 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 1213 | 32944 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 9438 | 1954 | (753) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 3682 | 53109 | (4171) |
|  Net gain (loss) on investments | 14333 | 88007 | (4924) |
|  Net increase (decrease) in net assets from operations | 15261 | 93568 | (3482) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (19158) | (45743) | (3356) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 35618 | (157562) | (45) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (102) | (1299) | (21) |
|  Increase (decrease) in net assets from contract transactions | 16358 | (204604) | (3422) |
|  Total increase (decrease) in net assets | 31619 | (111036) | (6904) |
|  Net assets as of December 31, 2024 | $113454 | $602177 | $92096 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2248 | 11820 | 2790 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (735) | (6337) | (335) |
|  Net investment income (loss) | 1513 | 5483 | 2455 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 5738 | 45101 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 9568 | 540 | (65) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (13912) | 35753 | 5584 |
|  Net gain (loss) on investments | 1394 | 81394 | 5519 |
|  Net increase (decrease) in net assets from operations | 2907 | 86877 | 7974 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (15) | (1751) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (71976) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (114) | (1098) | (18) |
|  Increase (decrease) in net assets from contract transactions | (72105) | (2849) | (18) |
|  Total increase (decrease) in net assets | (69198) | 84028 | 7956 |
|  Net assets as of December 31, 2025 | $44256 | $686205 | $100052 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **American Funds<br>IS<sup>®</sup> Global Growth** | **American Funds<br>IS<sup>®</sup> Global Small<br>Capitalization** | **American Funds<br>IS<sup>®</sup> Growth** |
|  Net assets as of December 31, 2023 | $343307 | $90062 | $689557 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 5160 | 175 | 1355 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3933) | (513) | (9157) |
|  Net investment income (loss) | 1227 | (338) | (7802) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 10972 | 799 | 19961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 3666 | (46823) | 64311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 26285 | 45300 | 109638 |
|  Net gain (loss) on investments | 40923 | (724) | 193910 |
|  Net increase (decrease) in net assets from operations | 42150 | (1062) | 186108 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (16720) | (77910) | (311338) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (155) | (162) | 154783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1053) | (155) | (2221) |
|  Increase (decrease) in net assets from contract transactions | (17928) | (78227) | (158776) |
|  Total increase (decrease) in net assets | 24222 | (79289) | 27332 |
|  Net assets as of December 31, 2024 | $367529 | $10773 | $716889 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 4539 | 43 | 762 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3921) | (143) | (8652) |
|  Net investment income (loss) | 618 | (100) | (7890) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 49577 | 248 | 47715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 8992 | (151) | 65588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 14007 | 1345 | 7683 |
|  Net gain (loss) on investments | 72576 | 1442 | 120986 |
|  Net increase (decrease) in net assets from operations | 73194 | 1342 | 113096 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 20518 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (66578) | (124) | (131285) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (470) | 10954 | 1161512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1133) | (24) | (2335) |
|  Increase (decrease) in net assets from contract transactions | (47663) | 10806 | 1027892 |
|  Total increase (decrease) in net assets | 25531 | 12148 | 1140988 |
|  Net assets as of December 31, 2025 | $393060 | $22921 | $1857877 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **American Funds<br>IS<sup>®</sup> Growth-<br>Income** | **American Funds<br>IS<sup>®</sup> International** | **American Funds<br>IS<sup>®</sup> International<br>Growth and<br>Income** |
|  Net assets as of December 31, 2023 | $389339 | $50397 | $275646 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3996 | 898 | 6745 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (4281) | (840) | (1010) |
|  Net investment income (loss) | (285) | 58 | 5735 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 17766 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 11116 | (59) | (882) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 51186 | 337 | 2777 |
|  Net gain (loss) on investments | 80068 | 278 | 1895 |
|  Net increase (decrease) in net assets from operations | 79783 | 336 | 7630 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (47046) |  | (3233) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 43624 | 36124 | (559) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1112) | (170) | (351) |
|  Increase (decrease) in net assets from contract transactions | (4534) | 35954 | (4143) |
|  Total increase (decrease) in net assets | 75249 | 36290 | 3487 |
|  Net assets as of December 31, 2024 | $464588 | $86687 | $279133 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3359 | 595 | 7881 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (4966) | (645) | (1119) |
|  Net investment income (loss) | (1607) | (50) | 6762 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 83209 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 16820 | 262 | (116) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (24089) | 15184 | 89382 |
|  Net gain (loss) on investments | 75940 | 15446 | 89266 |
|  Net increase (decrease) in net assets from operations | 74333 | 15396 | 96028 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (89373) | (8593) | (3579) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 28450 | (37892) | (538) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1169) | (140) | (403) |
|  Increase (decrease) in net assets from contract transactions | (62092) | (46625) | (4520) |
|  Total increase (decrease) in net assets | 12241 | (31229) | 91508 |
|  Net assets as of December 31, 2025 | $476829 | $55458 | $370641 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **American Funds<br>IS<sup>®</sup> Mortgage** | **American Funds<br>IS<sup>®</sup> New World** | **BlackRock<br>Advantage Large<br>Cap Core V.I.** |
|  Net assets as of December 31, 2023 | $— | $132285 | $28676 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 1647 | 139 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges |  | (1468) | (408) |
|  Net investment income (loss) |  | 179 | (269) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 651 | 3265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments |  | 116 | (66) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) |  | 5983 | 3722 |
|  Net gain (loss) on investments |  | 6750 | 6921 |
|  Net increase (decrease) in net assets from operations |  | 6929 | 6652 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 144 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (985) | (393) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments |  | (186) | (65) |
|  Increase (decrease) in net assets from contract transactions |  | (1027) | (465) |
|  Total increase (decrease) in net assets |  | 5902 | 6187 |
|  Net assets as of December 31, 2024 | $— | $138187 | $34863 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 1504 | 89 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (372) | (1663) | (461) |
|  Net investment income (loss) | (372) | (159) | (372) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 6380 | 4333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (897) | 786 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) |  | 30593 | 2377 |
|  Net gain (loss) on investments | (897) | 37759 | 6721 |
|  Net increase (decrease) in net assets from operations | (1269) | 37600 | 6349 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 168 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (2670) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 1335 | 5745 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (66) | (209) | (74) |
|  Increase (decrease) in net assets from contract transactions | 1269 | 3034 | (74) |
|  Total increase (decrease) in net assets |  | 40634 | 6275 |
|  Net assets as of December 31, 2025 | $— | $178821 | $41138 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **BlackRock Basic<br>Value V.I.** | **BlackRock Equity<br>Dividend V.I.** | **BlackRock Global<br>Allocation V.I.** |
|  Net assets as of December 31, 2023 | $133226 | $253795 | $131622 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 353 | 5295 | 1504 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (446) | (2997) | (1344) |
|  Net investment income (loss) | (93) | 2298 | 160 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 1524 | 17093 | 8260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (6797) | 1910 | (241) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 8409 | (1549) | 2625 |
|  Net gain (loss) on investments | 3136 | 17454 | 10644 |
|  Net increase (decrease) in net assets from operations | 3043 | 19752 | 10804 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (21007) | (48453) | (40839) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (95049) |  | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (56) | (316) | (120) |
|  Increase (decrease) in net assets from contract transactions | (116112) | (48769) | (40948) |
|  Total increase (decrease) in net assets | (113069) | (29017) | (30144) |
|  Net assets as of December 31, 2024 | $20157 | $224778 | $101478 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 414 | 5730 | 4719 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (273) | (3146) | (1377) |
|  Net investment income (loss) | 141 | 2584 | 3342 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 2854 | 25639 | 11510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 16 | 303 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 1449 | 21357 | 3444 |
|  Net gain (loss) on investments | 4319 | 47299 | 14945 |
|  Net increase (decrease) in net assets from operations | 4460 | 49883 | 18287 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 36369 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (514) | (1430) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (249) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (43) | (217) |  |
|  Increase (decrease) in net assets from contract transactions | (557) | 34473 |  |
|  Total increase (decrease) in net assets | 3903 | 84356 | 18287 |
|  Net assets as of December 31, 2025 | $24060 | $309134 | $119765 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **BlackRock High<br>Yield V.I.** | **BlackRock Large<br>Cap Focus Growth<br>V.I.** | **BNY Mellon IP<br>Small Cap Stock<br>Index** |
|  Net assets as of December 31, 2023 | $464398 | $47359 | $104216 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 32150 |  | 1542 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3811) | (1909) | (661) |
|  Net investment income (loss) | 28339 | (1909) | 881 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 13212 | 3022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (414) | 1117 | 1527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 4660 | 23455 | 533 |
|  Net gain (loss) on investments | 4246 | 37784 | 5082 |
|  Net increase (decrease) in net assets from operations | 32585 | 35875 | 5963 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 12992 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5307) | (5121) | (4382) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (13) | 95013 | 16471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1183) | (680) | (242) |
|  Increase (decrease) in net assets from contract transactions | 6489 | 89212 | 11847 |
|  Total increase (decrease) in net assets | 39074 | 125087 | 17810 |
|  Net assets as of December 31, 2024 | $503472 | $172446 | $122026 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 32163 |  | 1238 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3968) | (1984) | (604) |
|  Net investment income (loss) | 28195 | (1984) | 634 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 1091 | 14445 | 9421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (3111) | 30216 | (52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 11650 | (25702) | (7209) |
|  Net gain (loss) on investments | 9630 | 18959 | 2160 |
|  Net increase (decrease) in net assets from operations | 37825 | 16975 | 2794 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 8424 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (43849) | (8535) | (3422) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 1385 | (117495) | (19972) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1117) | (552) | (231) |
|  Increase (decrease) in net assets from contract transactions | (35157) | (126582) | (23625) |
|  Total increase (decrease) in net assets | 2668 | (109607) | (20831) |
|  Net assets as of December 31, 2025 | $506140 | $62839 | $101195 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **BNY Mellon IP<br>Technology<br>Growth** | **BNY Mellon VIF<br>Appreciation** | **Dimensional VA<br>Global Moderate<br>Allocation** |
|  Net assets as of December 31, 2023 | $201760 | $9871 | $— |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 19 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2823) | (135) | (11) |
|  Net investment income (loss) | (2823) | (116) | (11) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 774 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2501 | (43) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 48674 | 476 | (486) |
|  Net gain (loss) on investments | 51175 | 1207 | (486) |
|  Net increase (decrease) in net assets from operations | 48352 | 1091 | (497) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 18 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (12440) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (14) |  | 47265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (774) | (21) | (9) |
|  Increase (decrease) in net assets from contract transactions | (13210) | (21) | 47256 |
|  Total increase (decrease) in net assets | 35142 | 1070 | 46759 |
|  Net assets as of December 31, 2024 | $236902 | $10941 | $46759 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 83 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3218) | (217) | (153) |
|  Net investment income (loss) | (3218) | (134) | (153) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 129989 | 15426 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (1379) | (24980) | (911) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (62470) | 2049 | 486 |
|  Net gain (loss) on investments | 66140 | (7505) | (425) |
|  Net increase (decrease) in net assets from operations | 62922 | (7639) | (578) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 8848 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (6450) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (5981) | 8573 | (46166) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (778) | (38) | (15) |
|  Increase (decrease) in net assets from contract transactions | (4361) | 8535 | (46181) |
|  Total increase (decrease) in net assets | 58561 | 896 | (46759) |
|  Net assets as of December 31, 2025 | $295463 | $11837 | $— |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Dimensional VA<br>International Small<br>Portfolio** | **Dimensional VA<br>International Value<br>Portfolio** | **Dimensional VA<br>Short-Term Fixed<br>Portfolio** |
|  Net assets as of December 31, 2023 | $225283 | $1139231 | $199680 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 8174 | 44302 | 9935 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1149) | (4206) | (513) |
|  Net investment income (loss) | 7025 | 40096 | 9422 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 6392 | 22864 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 256 | 12127 | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (6159) | (6472) | 759 |
|  Net gain (loss) on investments | 489 | 28519 | 950 |
|  Net increase (decrease) in net assets from operations | 7514 | 68615 | 10372 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 7360 | 12960 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2172) | (124328) | (1957) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (5) | (57320) | (1063) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (198) | (479) | (406) |
|  Increase (decrease) in net assets from contract transactions | 4985 | (169167) | (3426) |
|  Total increase (decrease) in net assets | 12499 | (100552) | 6946 |
|  Net assets as of December 31, 2024 | $237782 | $1038679 | $206626 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 9232 | 57757 | 7560 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2922) | (3537) | (480) |
|  Net investment income (loss) | 6310 | 54220 | 7080 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 11170 | 42042 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 29190 | 7291 | (220) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 55944 | 359212 | 822 |
|  Net gain (loss) on investments | 96304 | 408545 | 602 |
|  Net increase (decrease) in net assets from operations | 102614 | 462765 | 7682 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 2976 | 9815 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (16859) | (28543) | (2031) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (24601) | 16521 | (29543) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (380) | (414) | (383) |
|  Increase (decrease) in net assets from contract transactions | (38864) | (2621) | (31957) |
|  Total increase (decrease) in net assets | 63750 | 460144 | (24275) |
|  Net assets as of December 31, 2025 | $301532 | $1498823 | $182351 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Dimensional VA<br>U.S. Large Value<br>Portfolio** | **Dimensional VA<br>U.S. Targeted<br>Value Portfolio** | **Donoghue Forlines<br>Dividend VIT<br>Fund** |
|  Net assets as of December 31, 2023 | $509180 | $561271 | $10346 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 7597 | 6193 | 175 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (4039) | (3266) | (28) |
|  Net investment income (loss) | 3558 | 2927 | 147 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 38278 | 30169 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 75367 | (2179) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (43573) | (2295) | 1143 |
|  Net gain (loss) on investments | 70072 | 25695 | 1143 |
|  Net increase (decrease) in net assets from operations | 73630 | 28622 | 1290 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (209032) | (139455) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 3 | (102270) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (946) | (450) | (23) |
|  Increase (decrease) in net assets from contract transactions | (209975) | (242175) | (23) |
|  Total increase (decrease) in net assets | (136345) | (213553) | 1267 |
|  Net assets as of December 31, 2024 | $372835 | $347718 | $11613 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 6283 | 11993 | 156 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3424) | (1202) | (31) |
|  Net investment income (loss) | 2859 | 10791 | 125 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 19625 | 54257 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 19041 | 913 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 7972 | (28406) | 1820 |
|  Net gain (loss) on investments | 46638 | 26764 | 1838 |
|  Net increase (decrease) in net assets from operations | 49497 | 37555 | 1963 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 6839 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (71438) | (10472) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (14) | 310158 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (722) | (108) | (25) |
|  Increase (decrease) in net assets from contract transactions | (72174) | 306417 | (27) |
|  Total increase (decrease) in net assets | (22677) | 343972 | 1936 |
|  Net assets as of December 31, 2025 | $350158 | $691690 | $13549 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **DWS Small Mid<br>Cap Value VIP** | **Eaton Vance VT<br>Floating-Rate<br>Income** | **Federated Hermes<br>Fund for U.S.<br>Government<br>Securities II** |
|  Net assets as of December 31, 2023 | $387084 | $233061 | $161644 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3231 | 17700 | 5574 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1023) | (565) | (2091) |
|  Net investment income (loss) | 2208 | 17135 | 3483 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 19277 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 454 | (1609) | (1035) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (231) | 464 | (3642) |
|  Net gain (loss) on investments | 19500 | (1145) | (4677) |
|  Net increase (decrease) in net assets from operations | 21708 | 15990 | (1194) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 16640 | 12800 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3582) | (46180) | (4308) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (54) | (15) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (219) | (218) | (550) |
|  Increase (decrease) in net assets from contract transactions | 12785 | (33613) | (4858) |
|  Total increase (decrease) in net assets | 34493 | (17623) | (6052) |
|  Net assets as of December 31, 2024 | $421577 | $215438 | $155592 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2482 | 15189 | 6098 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (755) | (613) | (2058) |
|  Net investment income (loss) | 1727 | 14576 | 4040 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 48887 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 32693 | (137) | (1275) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (30565) | (6190) | 5527 |
|  Net gain (loss) on investments | 51015 | (6327) | 4252 |
|  Net increase (decrease) in net assets from operations | 52742 | 8249 | 8292 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 1392 | 8262 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1222) | (1166) | (4257) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (474330) | 10696 | (569) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (159) | (189) | (529) |
|  Increase (decrease) in net assets from contract transactions | (474319) | 17603 | (5355) |
|  Total increase (decrease) in net assets | (421577) | 25852 | 2937 |
|  Net assets as of December 31, 2025 | $— | $241290 | $158529 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Federated Hermes<br>High Income Bond<br>II** | **Fidelity<sup>®</sup> VIP<br>Balanced** | **Fidelity<sup>®</sup> VIP<br>Contrafund** |
|  Net assets as of December 31, 2023 | $264378 | $662148 | $1629629 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 13951 | 13572 | 635 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2796) | (8784) | (21440) |
|  Net investment income (loss) | 11155 | 4788 | (20805) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 23251 | 252677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (1430) | 8175 | 58198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2660 | 58235 | 240461 |
|  Net gain (loss) on investments | 1230 | 89661 | 551336 |
|  Net increase (decrease) in net assets from operations | 12385 | 94449 | 530531 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 98734 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (14145) | (68216) | (131208) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 5793 | 126903 | 145627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (488) | (1224) | (4533) |
|  Increase (decrease) in net assets from contract transactions | (8840) | 156197 | 9886 |
|  Total increase (decrease) in net assets | 3545 | 250646 | 540417 |
|  Net assets as of December 31, 2024 | $267923 | $912794 | $2170046 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 15348 | 14210 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2775) | (10167) | (22548) |
|  Net investment income (loss) | 12573 | 4043 | (22548) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 47644 | 332368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (1200) | 7290 | 169851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 6978 | 49048 | (72163) |
|  Net gain (loss) on investments | 5778 | 103982 | 430056 |
|  Net increase (decrease) in net assets from operations | 18351 | 108025 | 407508 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 11269 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (14451) | (22401) | (443749) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 3470 | (63035) | (82767) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (438) | (1180) | (4595) |
|  Increase (decrease) in net assets from contract transactions | (11419) | (75347) | (531111) |
|  Total increase (decrease) in net assets | 6932 | 32678 | (123603) |
|  Net assets as of December 31, 2025 | $274855 | $945472 | $2046443 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Fidelity<sup>®</sup> VIP<br>Disciplined Small<br>Cap** | **Fidelity<sup>®</sup> VIP<br>Emerging Markets** | **Fidelity<sup>®</sup> VIP<br>Growth & Income** |
|  Net assets as of December 31, 2023 | $43861 | $234018 | $495386 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 398 | 3548 | 7230 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (294) | (1570) | (3403) |
|  Net investment income (loss) | 104 | 1978 | 3827 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 273 |  | 38935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 664 | 4075 | 3549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 5822 | 20312 | 58325 |
|  Net gain (loss) on investments | 6759 | 24387 | 100809 |
|  Net increase (decrease) in net assets from operations | 6863 | 26365 | 104636 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 33892 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2266) | (7457) | (6900) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (1014) | 2192 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (35) | (464) | (1149) |
|  Increase (decrease) in net assets from contract transactions | (3315) | 28163 | (8049) |
|  Total increase (decrease) in net assets | 3548 | 54528 | 96587 |
|  Net assets as of December 31, 2024 | $47409 | $288546 | $591973 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 499 | 10527 | 8950 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (397) | (2291) | (3928) |
|  Net investment income (loss) | 102 | 8236 | 5022 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 3786 | 5762 | 64323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 630 | 7805 | 11314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 3394 | 114311 | 43173 |
|  Net gain (loss) on investments | 7810 | 127878 | 118810 |
|  Net increase (decrease) in net assets from operations | 7912 | 136114 | 123832 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 8210 | 8210 | 26277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2363) | (12865) | (26199) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 28414 | 483329 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (38) | (734) | (1244) |
|  Increase (decrease) in net assets from contract transactions | 34223 | 477940 | (991) |
|  Total increase (decrease) in net assets | 42135 | 614054 | 122841 |
|  Net assets as of December 31, 2025 | $89544 | $902600 | $714814 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Fidelity<sup>®</sup> VIP<br>Growth<br>Opportunities** | **Fidelity<sup>®</sup> VIP High<br>Income** | **Fidelity<sup>®</sup> VIP<br>Index 500** |
|  Net assets as of December 31, 2023 | $1668656 | $44088 | $1152075 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 2200 | 13513 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (12435) | (389) | (14726) |
|  Net investment income (loss) | (12435) | 1811 | (1213) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 96948 | (71) | 95794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 488962 | 1559 | 158411 |
|  Net gain (loss) on investments | 585910 | 1488 | 254998 |
|  Net increase (decrease) in net assets from operations | 573475 | 3299 | 253785 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 33281 |  | 65622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (377342) | (11210) | (212740) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (5487) | (80) | 95984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (3622) | (108) | (5912) |
|  Increase (decrease) in net assets from contract transactions | (353170) | (11398) | (57046) |
|  Total increase (decrease) in net assets | 220305 | (8099) | 196739 |
|  Net assets as of December 31, 2024 | $1888961 | $35989 | $1348814 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 2537 | 16049 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (11272) | (393) | (16358) |
|  Net investment income (loss) | (11272) | 2144 | (309) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 25637 |  | 7832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 763751 | (23) | 46738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (410214) | 1171 | 224860 |
|  Net gain (loss) on investments | 379174 | 1148 | 279430 |
|  Net increase (decrease) in net assets from operations | 367902 | 3292 | 279121 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 76952 |  | 365391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (93135) |  | (79728) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (1355329) |  | 29251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (2997) | (75) | (6810) |
|  Increase (decrease) in net assets from contract transactions | (1374509) | (75) | 308104 |
|  Total increase (decrease) in net assets | (1006607) | 3217 | 587225 |
|  Net assets as of December 31, 2025 | $882354 | $39206 | $1936039 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Fidelity<sup>®</sup> VIP<br>Investment Grade<br>Bond** | **Fidelity<sup>®</sup> VIP Mid<br>Cap** | **Fidelity<sup>®</sup> VIP<br>Overseas** |
|  Net assets as of December 31, 2023 | $674072 | $65616 | $122988 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 17986 | 256 | 1792 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (5662) | (321) | (1028) |
|  Net investment income (loss) | 12324 | (65) | 764 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 9848 | 5871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (27248) | 136 | 1200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 17297 | 945 | (2832) |
|  Net gain (loss) on investments | (9951) | 10929 | 4239 |
|  Net increase (decrease) in net assets from operations | 2373 | 10864 | 5003 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 60 |  | 384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (158446) | (893) | (3713) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (10630) | (281) | (902) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (2169) | (93) | (167) |
|  Increase (decrease) in net assets from contract transactions | (171185) | (1267) | (4398) |
|  Total increase (decrease) in net assets | (168812) | 9597 | 605 |
|  Net assets as of December 31, 2024 | $505260 | $75213 | $123593 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 16315 | 187 | 1947 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (5076) | (321) | (1139) |
|  Net investment income (loss) | 11239 | (134) | 808 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 8984 | 12649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (13051) | 143 | 4029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 30091 | (891) | 7417 |
|  Net gain (loss) on investments | 17040 | 8236 | 24095 |
|  Net increase (decrease) in net assets from operations | 28279 | 8102 | 24903 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 90 |  | 384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (71760) | (3101) | (3515) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 9518 | (219) | (751) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1797) | (97) | (154) |
|  Increase (decrease) in net assets from contract transactions | (63949) | (3417) | (4036) |
|  Total increase (decrease) in net assets | (35670) | 4685 | 20867 |
|  Net assets as of December 31, 2025 | $469590 | $79898 | $144460 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Fidelity<sup>®</sup> VIP Real<br>Estate** | **Fidelity<sup>®</sup> VIP<br>Strategic Income** | **Franklin DynaTech<br>VIP** |
|  Net assets as of December 31, 2023 | $72572 | $199979 | $24395 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2434 | 6822 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (454) | (2405) | (122) |
|  Net investment income (loss) | 1980 | 4417 | (122) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (2516) | (501) | (989) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2831 | 5070 | 8995 |
|  Net gain (loss) on investments | 315 | 4569 | 8006 |
|  Net increase (decrease) in net assets from operations | 2295 | 8986 | 7884 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (13554) | (14831) | (26356) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 9 | (45) | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (68) | (575) | (51) |
|  Increase (decrease) in net assets from contract transactions | (13613) | (15451) | (26434) |
|  Total increase (decrease) in net assets | (11318) | (6465) | (18550) |
|  Net assets as of December 31, 2024 | $61254 | $193514 | $5845 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1204 | 7265 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (417) | (2393) | (157) |
|  Net investment income (loss) | 787 | 4872 | (157) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 28 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (31) | (27) | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 568 | 9205 | 6737 |
|  Net gain (loss) on investments | 565 | 9178 | 6782 |
|  Net increase (decrease) in net assets from operations | 1352 | 14050 | 6625 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 33953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (43) | (699) | (2079) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | (453) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (52) | (568) | (77) |
|  Increase (decrease) in net assets from contract transactions | (95) | (1267) | 31344 |
|  Total increase (decrease) in net assets | 1257 | 12783 | 37969 |
|  Net assets as of December 31, 2025 | $62511 | $206297 | $43814 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin Growth<br>and Income VIP<br>Fund** | **Franklin Income<br>VIP Fund** | **Franklin Large<br>Cap Growth VIP<br>Fund** |
|  Net assets as of December 31, 2023 | $319132 | $276131 | $413517 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 7963 | 14771 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2842) | (3411) | (5195) |
|  Net investment income (loss) | 5121 | 11360 | (5195) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 6780 | 1210 | 52278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (1064) | (1010) | (1430) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 43554 | 4936 | 57204 |
|  Net gain (loss) on investments | 49270 | 5136 | 108052 |
|  Net increase (decrease) in net assets from operations | 54391 | 16496 | 102857 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (24535) | (49228) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (163) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (227) | (743) | (2235) |
|  Increase (decrease) in net assets from contract transactions | (227) | (25441) | (51463) |
|  Total increase (decrease) in net assets | 54164 | (8945) | 51394 |
|  Net assets as of December 31, 2024 | $373296 | $267186 | $464911 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 8591 | 14141 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3162) | (3409) | (4833) |
|  Net investment income (loss) | 5429 | 10732 | (4833) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 36990 | 2973 | 88574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (865) | (102) | (11269) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 18078 | 16229 | (42509) |
|  Net gain (loss) on investments | 54203 | 19100 | 34796 |
|  Net increase (decrease) in net assets from operations | 59632 | 29832 | 29963 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (590) | (107005) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (69) | (548) | (2063) |
|  Increase (decrease) in net assets from contract transactions | (69) | (1138) | (109067) |
|  Total increase (decrease) in net assets | 59563 | 28694 | (79104) |
|  Net assets as of December 31, 2025 | $432859 | $295880 | $385807 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin Mutual<br>Global Discovery<br>VIP Fund** | **Franklin Mutual<br>Shares VIP Fund** | **Franklin Rising<br>Dividends VIP<br>Fund** |
|  Net assets as of December 31, 2023 | $132310 | $80639 | $755987 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2439 | 1745 | 7954 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (643) | (387) | (4131) |
|  Net investment income (loss) | 1796 | 1358 | 3823 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 10248 | 1814 | 37842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (22) | 549 | 1365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (6500) | 5979 | 34453 |
|  Net gain (loss) on investments | 3726 | 8342 | 73660 |
|  Net increase (decrease) in net assets from operations | 5522 | 9700 | 77483 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (21564) | (94272) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | 4 | 526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (278) | (103) | (916) |
|  Increase (decrease) in net assets from contract transactions | (278) | (21663) | (94662) |
|  Total increase (decrease) in net assets | 5244 | (11963) | (17179) |
|  Net assets as of December 31, 2024 | $137554 | $68676 | $738808 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2962 | 1483 | 6296 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (708) | (179) | (3666) |
|  Net investment income (loss) | 2254 | 1304 | 2630 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 16415 | 7308 | 75431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (6) | (34) | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 12636 | (863) | 5001 |
|  Net gain (loss) on investments | 29045 | 6411 | 80499 |
|  Net increase (decrease) in net assets from operations | 31299 | 7715 | 83129 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  |  | (1757) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (311) | (75) | (829) |
|  Increase (decrease) in net assets from contract transactions | (311) | (75) | (2586) |
|  Total increase (decrease) in net assets | 30988 | 7640 | 80543 |
|  Net assets as of December 31, 2025 | $168542 | $76316 | $819351 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin Small<br>Cap Value VIP<br>Fund** | **Franklin Small-**<br>**Mid Cap Growth<br>VIP Fund** | **Franklin Strategic<br>Income VIP Fund** |
|  Net assets as of December 31, 2023 | $493008 | $446774 | $32655 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 4866 |  | 1478 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3137) | (5467) | (417) |
|  Net investment income (loss) | 1729 | (5467) | 1061 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 12027 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 65 | (16748) | (52) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 40617 | 59103 | (123) |
|  Net gain (loss) on investments | 52709 | 42355 | (175) |
|  Net increase (decrease) in net assets from operations | 54438 | 36888 | 886 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 6145 | 5279 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (26374) | (94862) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (336) | (13060) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (494) | (1821) | (66) |
|  Increase (decrease) in net assets from contract transactions | (21059) | (104464) | (66) |
|  Total increase (decrease) in net assets | 33379 | (67576) | 820 |
|  Net assets as of December 31, 2024 | $526387 | $379198 | $33475 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 5675 |  | 1666 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2515) | (4657) | (336) |
|  Net investment income (loss) | 3160 | (4657) | 1330 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 44259 | 20539 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (9015) | (9283) | (3277) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (9266) | (3389) | 3553 |
|  Net gain (loss) on investments | 25978 | 7867 | 276 |
|  Net increase (decrease) in net assets from operations | 29138 | 3210 | 1606 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 384 | 14342 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (114283) | (63347) | (35046) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (302038) | (4739) | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (388) | (1582) | (51) |
|  Increase (decrease) in net assets from contract transactions | (416325) | (55326) | (35081) |
|  Total increase (decrease) in net assets | (387187) | (52116) | (33475) |
|  Net assets as of December 31, 2025 | $139200 | $327082 | $— |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin U.S.<br>Government<br>Securities VIP<br>Fund** | **Goldman Sachs<br>VIT International<br>Equity Insights** | **Goldman Sachs<br>VIT Mid Cap<br>Growth Fund** |
|  Net assets as of December 31, 2023 | $331525 | $7480 | $343285 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 10121 | 221 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1867) | (20) | (1616) |
|  Net investment income (loss) | 8254 | 201 | (1616) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 283 | 44971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (1939) | 6 | (2475) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (3419) | (73) | 25995 |
|  Net gain (loss) on investments | (5358) | 216 | 68491 |
|  Net increase (decrease) in net assets from operations | 2896 | 417 | 66875 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (16022) |  | (7889) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 139569 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (734) | (17) | (889) |
|  Increase (decrease) in net assets from contract transactions | 122813 | (17) | (8778) |
|  Total increase (decrease) in net assets | 125709 | 400 | 58097 |
|  Net assets as of December 31, 2024 | $457234 | $7880 | $401382 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 11420 | 236 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1652) | (1263) | (2149) |
|  Net investment income (loss) | 9768 | (1027) | (2149) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 1282 | 143023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (18438) | 23536 | (4358) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 29591 | 1460 | (121460) |
|  Net gain (loss) on investments | 11153 | 26278 | 17205 |
|  Net increase (decrease) in net assets from operations | 20921 | 25251 | 15056 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 11399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (244832) |  | (30239) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (112680) | (22097) | 427240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (486) | (197) | (956) |
|  Increase (decrease) in net assets from contract transactions | (357998) | (22294) | 407444 |
|  Total increase (decrease) in net assets | (337077) | 2957 | 422500 |
|  Net assets as of December 31, 2025 | $120157 | $10837 | $823882 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Goldman Sachs<br>VIT Mid Cap<br>Value** | **Guggenheim VIF<br>Floating Rate<br>Strategies** | **Guggenheim VIF<br>Global Managed<br>Futures Strategy** |
|  Net assets as of December 31, 2023 | $215393 | $171377 | $62910 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1676 | 11986 | 1706 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2077) | (1840) | (281) |
|  Net investment income (loss) | (401) | 10146 | 1425 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 12968 |  | 912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 4329 | 63 | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 7384 | (1515) | (2418) |
|  Net gain (loss) on investments | 24681 | (1452) | (1425) |
|  Net increase (decrease) in net assets from operations | 24280 | 8694 |  |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (15716) | (24838) | (1358) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 6190 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (232) | (503) | (155) |
|  Increase (decrease) in net assets from contract transactions | (9758) | (25341) | (1513) |
|  Total increase (decrease) in net assets | 14522 | (16647) | (1513) |
|  Net assets as of December 31, 2024 | $229915 | $154730 | $61397 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2097 | 14036 | 1100 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2124) | (1787) | (259) |
|  Net investment income (loss) | (27) | 12249 | 841 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 23768 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1893 | (176) | (186) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (8078) | (8380) | 1054 |
|  Net gain (loss) on investments | 17583 | (8556) | 868 |
|  Net increase (decrease) in net assets from operations | 17556 | 3693 | 1709 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3484) | (570) | (4066) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (13663) |  | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (196) | (504) | (123) |
|  Increase (decrease) in net assets from contract transactions | (17343) | (1074) | (4175) |
|  Total increase (decrease) in net assets | 213 | 2619 | (2466) |
|  Net assets as of December 31, 2025 | $230128 | $157349 | $58931 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Guggenheim VIF<br>High Yield** | **Guggenheim VIF<br>Multi-Hedge<br>Strategies** | **Guggenheim VIF<br>Total Return Bond** |
|  Net assets as of December 31, 2023 | $19833 | $125660 | $1050646 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1086 | 4397 | 40277 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (230) | (534) | (4200) |
|  Net investment income (loss) | 856 | 3863 | 36077 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (483) | 4686 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 731 | (9582) | (8222) |
|  Net gain (loss) on investments | 248 | (4896) | (8227) |
|  Net increase (decrease) in net assets from operations | 1104 | (1033) | 27850 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 30 | 62238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2284) | (106887) | (28003) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 9 | 10 | 41981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (39) | (127) | (830) |
|  Increase (decrease) in net assets from contract transactions | (2314) | (106974) | 75386 |
|  Total increase (decrease) in net assets | (1210) | (108007) | 103236 |
|  Net assets as of December 31, 2024 | $18623 | $17653 | $1153882 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1852 | 336 | 50560 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (296) | (207) | (4598) |
|  Net investment income (loss) | 1556 | 129 | 45962 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (46) | (318) | (297) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (263) | 68 | 37702 |
|  Net gain (loss) on investments | (309) | (250) | 37405 |
|  Net increase (decrease) in net assets from operations | 1247 | (121) | 83367 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 30 | 15 | 40810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (241) | (18749) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 8171 | (2568) | 127622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (48) | (49) | (979) |
|  Increase (decrease) in net assets from contract transactions | 8153 | (2843) | 148704 |
|  Total increase (decrease) in net assets | 9400 | (2964) | 232071 |
|  Net assets as of December 31, 2025 | $28023 | $14689 | $1385953 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Invesco V.I.<br>American<br>Franchise Series I** | **Invesco V.I.<br>American Value** | **Invesco V.I.<br>Balanced-Risk<br>Allocation** |
|  Net assets as of December 31, 2023 | $100400 | $12756 | $31550 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 118 | 998 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1547) | (185) | (63) |
|  Net investment income (loss) | (1547) | (67) | 935 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 353 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1574 | (10) | (2221) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 29601 | 3353 | 2744 |
|  Net gain (loss) on investments | 31175 | 3696 | 523 |
|  Net increase (decrease) in net assets from operations | 29628 | 3629 | 1458 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5905) |  | (16393) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (12972) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (105) | (30) | (50) |
|  Increase (decrease) in net assets from contract transactions | (18982) | (30) | (16443) |
|  Total increase (decrease) in net assets | 10646 | 3599 | (14985) |
|  Net assets as of December 31, 2024 | $111046 | $16355 | $16565 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 38 | 1185 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1635) | (214) | (43) |
|  Net investment income (loss) | (1635) | (176) | 1142 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 11790 | 2754 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 4484 | 15 | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (3093) | 549 | 265 |
|  Net gain (loss) on investments | 13181 | 3318 | 251 |
|  Net increase (decrease) in net assets from operations | 11546 | 3142 | 1393 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 8579 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (7274) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (1384) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (133) | (33) | (34) |
|  Increase (decrease) in net assets from contract transactions | (212) | (33) | (34) |
|  Total increase (decrease) in net assets | 11334 | 3109 | 1359 |
|  Net assets as of December 31, 2025 | $122380 | $19464 | $17924 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Invesco V.I.<br>Comstock** | **Invesco V.I. Core<br>Equity** | **Invesco V.I.<br>Discovery Mid Cap<br>Growth** |
|  Net assets as of December 31, 2023 | $304337 | $67239 | $20807 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1601 | 385 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1843) | (194) | (265) |
|  Net investment income (loss) | (242) | 191 | (265) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 7509 | 6664 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 3420 | 5 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 8904 | 9932 | 5452 |
|  Net gain (loss) on investments | 19833 | 16601 | 5481 |
|  Net increase (decrease) in net assets from operations | 19591 | 16792 | 5216 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (108615) |  | (21026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (214927) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (386) |  | (40) |
|  Increase (decrease) in net assets from contract transactions | (323928) |  | (21066) |
|  Total increase (decrease) in net assets | (304337) | 16792 | (15850) |
|  Net assets as of December 31, 2024 | $— | $84031 | $4957 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 62 | 377 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (29) | (221) | (62) |
|  Net investment income (loss) | 33 | 156 | (62) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 457 | 6901 | 495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1 | 19 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (33) | 6030 | (270) |
|  Net gain (loss) on investments | 425 | 12950 | 221 |
|  Net increase (decrease) in net assets from operations | 458 | 13106 | 159 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 15 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 4084 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (5) |  | (10) |
|  Increase (decrease) in net assets from contract transactions | 4094 |  | (10) |
|  Total increase (decrease) in net assets | 4552 | 13106 | 149 |
|  Net assets as of December 31, 2025 | $4552 | $97137 | $5106 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Invesco V.I.<br>Equally-Weighted<br>S&P 500** | **Invesco V.I. Equity<br>and Income** | **Invesco V.I. EVQ<br>International<br>Equity Fund** |
|  Net assets as of December 31, 2023 | $16435 | $71190 | $232930 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 4262 | 377 | 3407 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (700) | (660) | (2546) |
|  Net investment income (loss) | 3562 | (283) | 861 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 7486 | 920 | 1180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 15371 | (595) | 1679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 1324 | 5862 | (4981) |
|  Net gain (loss) on investments | 24181 | 6187 | (2122) |
|  Net increase (decrease) in net assets from operations | 27743 | 5904 | (1261) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 269100 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (295175) | (52874) | (24160) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 286 |  | 1515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (173) | (97) | (1094) |
|  Increase (decrease) in net assets from contract transactions | (25962) | (52971) | (23739) |
|  Total increase (decrease) in net assets | 1781 | (47067) | (25000) |
|  Net assets as of December 31, 2024 | $18216 | $24123 | $207930 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 4511 | 478 | 2562 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (967) | (314) | (2425) |
|  Net investment income (loss) | 3544 | 164 | 137 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 26081 | 1372 | 13979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 27 |  | 2941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 434 | 1141 | 13320 |
|  Net gain (loss) on investments | 26542 | 2513 | 30240 |
|  Net increase (decrease) in net assets from operations | 30086 | 2677 | 30377 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 295103 |  | 6863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  |  | (26984) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (8792) |  | (672) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (38) | (50) | (1075) |
|  Increase (decrease) in net assets from contract transactions | 286273 | (50) | (21868) |
|  Total increase (decrease) in net assets | 316359 | 2627 | 8509 |
|  Net assets as of December 31, 2025 | $334575 | $26750 | $216439 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Invesco V.I. Global** | **Invesco V.I. Global<br>Real Estate** | **Invesco V.I. Global<br>Strategic Income** |
|  Net assets as of December 31, 2023 | $139596 | $32989 | $116994 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 482 | 3232 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (978) | (65) | (1398) |
|  Net investment income (loss) | (978) | 417 | 1834 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 9414 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 19 | (2883) | (2531) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 12546 | 1520 | 2414 |
|  Net gain (loss) on investments | 21979 | (1363) | (117) |
|  Net increase (decrease) in net assets from operations | 21001 | (946) | 1717 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (13225) | (17609) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (639) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (624) | (11) | (371) |
|  Increase (decrease) in net assets from contract transactions | (624) | (13875) | (17980) |
|  Total increase (decrease) in net assets | 20377 | (14821) | (16263) |
|  Net assets as of December 31, 2024 | $159973 | $18168 | $100731 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 325 | 5786 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (940) | (46) | (1276) |
|  Net investment income (loss) | (940) | 279 | 4510 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 21617 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (7258) | (309) | (108) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (5122) | 1341 | 7076 |
|  Net gain (loss) on investments | 9237 | 1032 | 6968 |
|  Net increase (decrease) in net assets from operations | 8297 | 1311 | 11478 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (47054) | (1516) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (2258) | (504) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (423) |  | (365) |
|  Increase (decrease) in net assets from contract transactions | (49735) | (2020) | (365) |
|  Total increase (decrease) in net assets | (41438) | (709) | 11113 |
|  Net assets as of December 31, 2025 | $118535 | $17459 | $111844 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Invesco V.I.<br>Government<br>Securities** | **Invesco V.I. Health<br>Care** | **Invesco V.I.<br>International<br>Growth Fund (a)** |
|  Net assets as of December 31, 2023 | $822 | $59667 | $147254 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 223 |  | 445 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (56) | (823) | (665) |
|  Net investment income (loss) | 167 | (823) | (220) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 7919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (111) | (33) | (1353) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 122 | 2398 | (8130) |
|  Net gain (loss) on investments | 11 | 2365 | (1564) |
|  Net increase (decrease) in net assets from operations | 178 | 1542 | (1784) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 11 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (292) |  | (27895) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (114) |  | (956) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (14) | (182) | (351) |
|  Increase (decrease) in net assets from contract transactions | (420) | (171) | (29202) |
|  Total increase (decrease) in net assets | (242) | 1371 | (30986) |
|  Net assets as of December 31, 2024 | $580 | $61038 | $116268 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 14 |  | 70 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (39) | (872) | (621) |
|  Net investment income (loss) | (25) | (872) | (551) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 2918 | 10362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 248 | (6885) | (930) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 7 | 8572 | 7878 |
|  Net gain (loss) on investments | 255 | 4605 | 17310 |
|  Net increase (decrease) in net assets from operations | 230 | 3733 | 16759 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 5641 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (247) | (5416) | (11788) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (50) | 4364 | (463) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (15) | (173) | (319) |
|  Increase (decrease) in net assets from contract transactions | (312) | 4416 | (12570) |
|  Total increase (decrease) in net assets | (82) | 8149 | 4189 |
|  Net assets as of December 31, 2025 | $498 | $69187 | $120457 |

---

(a) Name change. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Invesco V.I. Main<br>Street Mid Cap<br>Fund<sup>®</sup>** | **Invesco V.I. Main<br>Street Small Cap<br>Fund<sup>®</sup>** | **Invesco V.I. Small<br>Cap Equity** |
|  Net assets as of December 31, 2023 | $97246 | $277920 | $57715 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 115 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1022) | (3484) | (524) |
|  Net investment income (loss) | (907) | (3484) | (524) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 2307 | 9859 | 2051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 702 | 5351 | (715) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 11700 | 17281 | 6250 |
|  Net gain (loss) on investments | 14709 | 32491 | 7586 |
|  Net increase (decrease) in net assets from operations | 13802 | 29007 | 7062 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 18 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (14256) | (29216) | (22627) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (1065) | (8436) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (235) | (991) | (102) |
|  Increase (decrease) in net assets from contract transactions | (15556) | (38625) | (22741) |
|  Total increase (decrease) in net assets | (1754) | (9618) | (15679) |
|  Net assets as of December 31, 2024 | $95492 | $268302 | $42036 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 111 | 643 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1084) | (3418) | (537) |
|  Net investment income (loss) | (973) | (2775) | (537) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 10606 | 28599 | 2139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 490 | 1988 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (1985) | (8491) | 1105 |
|  Net gain (loss) on investments | 9111 | 22096 | 3260 |
|  Net increase (decrease) in net assets from operations | 8138 | 19321 | 2723 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 8579 | 8612 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2935) | (12241) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (605) | 5750 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (215) | (966) | (40) |
|  Increase (decrease) in net assets from contract transactions | 4824 | 1155 | (40) |
|  Total increase (decrease) in net assets | 12962 | 20476 | 2683 |
|  Net assets as of December 31, 2025 | $108454 | $288778 | $44719 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Janus Henderson<br>VIT Enterprise** | **Janus Henderson<br>VIT Forty** | **Janus Henderson<br>VIT Overseas** |
|  Net assets as of December 31, 2023 | $300307 | $8690 | $330597 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2024 | 8 | 4680 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3594) | (913) | (1429) |
|  Net investment income (loss) | (1570) | (905) | 3251 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 14336 | 4857 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 8146 | 215 | 724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 23566 | 10773 | 13037 |
|  Net gain (loss) on investments | 46048 | 15845 | 13761 |
|  Net increase (decrease) in net assets from operations | 44478 | 14940 | 17012 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 18 |  | 11040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5157) | (2913) | (3508) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (46231) | 61600 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (653) | (365) | (300) |
|  Increase (decrease) in net assets from contract transactions | (52023) | 58322 | 7225 |
|  Total increase (decrease) in net assets | (7545) | 73262 | 24237 |
|  Net assets as of December 31, 2024 | $292762 | $81952 | $354834 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 159 |  | 5521 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3165) | (2029) | (1610) |
|  Net investment income (loss) | (3006) | (2029) | 3911 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 28315 | 16736 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 3619 | 5758 | 1023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (8913) | 2029 | 96288 |
|  Net gain (loss) on investments | 23021 | 24523 | 97311 |
|  Net increase (decrease) in net assets from operations | 20015 | 22494 | 101222 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 36378 |  | 10163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5204) | (19667) | (2131) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (43101) | 202926 | 3260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (690) | (800) | (334) |
|  Increase (decrease) in net assets from contract transactions | (12617) | 182459 | 10958 |
|  Total increase (decrease) in net assets | 7398 | 204953 | 112180 |
|  Net assets as of December 31, 2025 | $300160 | $286905 | $467014 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Janus Henderson<br>VIT Research** | **Lord Abbett Series<br>Bond-Debenture<br>VC** | **Lord Abbett Series<br>Developing Growth<br>VC** |
|  Net assets as of December 31, 2023 | $89924 | $393874 | $87470 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 19721 | 150 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (495) | (4157) | (841) |
|  Net investment income (loss) | (495) | 15564 | (691) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 3219 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 201 | (5424) | (848) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 27933 | 12042 | 19378 |
|  Net gain (loss) on investments | 31353 | 6618 | 18530 |
|  Net increase (decrease) in net assets from operations | 30858 | 22182 | 17839 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 30 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (20295) | (5915) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (41768) | (1230) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (220) | (1078) | (274) |
|  Increase (decrease) in net assets from contract transactions | (220) | (63111) | (7419) |
|  Total increase (decrease) in net assets | 30638 | (40929) | 10420 |
|  Net assets as of December 31, 2024 | $120562 | $352945 | $97890 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 20691 | 186 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (550) | (4085) | (880) |
|  Net investment income (loss) | (550) | 16606 | (694) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 10240 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 7379 | (2413) | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 1965 | 10108 | 13576 |
|  Net gain (loss) on investments | 19584 | 7695 | 13579 |
|  Net increase (decrease) in net assets from operations | 19034 | 24301 | 12885 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 15 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (17028) | (2730) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (23429) | (4348) | (1066) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (234) | (1030) | (285) |
|  Increase (decrease) in net assets from contract transactions | (23663) | (22391) | (4081) |
|  Total increase (decrease) in net assets | (4629) | 1910 | 8804 |
|  Net assets as of December 31, 2025 | $115933 | $354855 | $106694 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Lord Abbett Series<br>Growth and<br>Income VC** | **Lord Abbett Series<br>Growth<br>Opportunities VC** | **LVIP American<br>Century<br>Disciplined Core<br>Value** |
|  Net assets as of December 31, 2023 | $95596 | $13544 | $191297 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 949 |  | 1247 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1352) | (36) | (556) |
|  Net investment income (loss) | (403) | (36) | 691 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 8237 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 209 | (2319) | (23573) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 10178 | 6735 | 38446 |
|  Net gain (loss) on investments | 18624 | 4416 | 14873 |
|  Net increase (decrease) in net assets from operations | 18221 | 4380 | 15564 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (17893) | (124438) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (4) | (2023) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (595) | (27) | (176) |
|  Increase (decrease) in net assets from contract transactions | (595) | (17924) | (126637) |
|  Total increase (decrease) in net assets | 17626 | (13544) | (111073) |
|  Net assets as of December 31, 2024 | $113222 | $— | $80224 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 704 |  | 1221 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1499) | (33) | (205) |
|  Net investment income (loss) | (795) | (33) | 1016 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 13011 | 2191 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 255 | 9 | 260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 5397 | (976) | 9912 |
|  Net gain (loss) on investments | 18663 | 1224 | 10172 |
|  Net increase (decrease) in net assets from operations | 17868 | 1191 | 11188 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 22395 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (1436) | (3096) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (5) | (1148) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (514) | (27) |  |
|  Increase (decrease) in net assets from contract transactions | (514) | 20927 | (4244) |
|  Total increase (decrease) in net assets | 17354 | 22118 | 6944 |
|  Net assets as of December 31, 2025 | $130576 | $22118 | $87168 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **LVIP American<br>Century Inflation<br>Protection** | **LVIP American<br>Century<br>International** | **LVIP American<br>Century Mid Cap<br>Value (b)** |
|  Net assets as of December 31, 2023 | $46445 | $51958 | $47700 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1719 | 424 | 1149 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (115) | (441) | (274) |
|  Net investment income (loss) | 1604 | (17) | 875 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 2271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (167) | (588) | 310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (859) | 1994 | 299 |
|  Net gain (loss) on investments | (1026) | 1406 | 2880 |
|  Net increase (decrease) in net assets from operations | 578 | 1389 | 3755 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1133) |  | (3364) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 6 | (23095) | (1109) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (32) | (69) | (30) |
|  Increase (decrease) in net assets from contract transactions | (1159) | (23164) | (4503) |
|  Total increase (decrease) in net assets | (581) | (21775) | (748) |
|  Net assets as of December 31, 2024 | $45864 | $30183 | $46952 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3444 | 366 | 8710 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (117) | (414) | (626) |
|  Net investment income (loss) | 3327 | (48) | 8084 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 43323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (180) | 14 | 80 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (433) | 4369 | (41183) |
|  Net gain (loss) on investments | (613) | 4383 | 2220 |
|  Net increase (decrease) in net assets from operations | 2714 | 4335 | 10304 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 11399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1127) |  | (3764) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 3 |  | 477732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (31) | (32) | (132) |
|  Increase (decrease) in net assets from contract transactions | (1155) | (32) | 485235 |
|  Total increase (decrease) in net assets | 1559 | 4303 | 495539 |
|  Net assets as of December 31, 2025 | $47423 | $34486 | $542491 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **LVIP American<br>Century Value** | **LVIP JPMorgan<br>Core Bond Fund** | **LVIP JPMorgan<br>Small Cap Core<br>Fund** |
|  Net assets as of December 31, 2023 | $59724 | $30491 | $51665 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1780 | 1232 | 371 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (451) | (374) | (694) |
|  Net investment income (loss) | 1329 | 858 | (323) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 3560 |  | 857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 59 | (281) | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 134 | (523) | 4661 |
|  Net gain (loss) on investments | 3753 | (804) | 5489 |
|  Net increase (decrease) in net assets from operations | 5082 | 54 | 5166 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (1692) | (628) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (583) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (127) | (22) | (262) |
|  Increase (decrease) in net assets from contract transactions | (127) | (2297) | (890) |
|  Total increase (decrease) in net assets | 4955 | (2243) | 4276 |
|  Net assets as of December 31, 2024 | $64679 | $28248 | $55941 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1042 | 631 | 236 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (486) | (336) | (688) |
|  Net investment income (loss) | 556 | 295 | (452) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 5393 |  | 4622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 76 | (789) | (87) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 3690 | 2088 | 613 |
|  Net gain (loss) on investments | 9159 | 1299 | 5148 |
|  Net increase (decrease) in net assets from operations | 9715 | 1594 | 4696 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (11322) | (2550) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (400) | (354) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (140) | (18) | (263) |
|  Increase (decrease) in net assets from contract transactions | (140) | (11740) | (3167) |
|  Total increase (decrease) in net assets | 9575 | (10146) | 1529 |
|  Net assets as of December 31, 2025 | $74254 | $18102 | $57470 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **LVIP JPMorgan<br>US Equity Fund** | **MFS<sup>®</sup> VIT Global<br>Tactical Allocation** | **MFS<sup>®</sup> VIT II<br>Research<br>International** |
|  Net assets as of December 31, 2023 | $10151 | $74774 | $60862 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 67 |  | 740 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (169) | (399) | (756) |
|  Net investment income (loss) | (102) | (399) | (16) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 601 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2 | (2607) | 955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 1794 | 4941 | (64) |
|  Net gain (loss) on investments | 2397 | 2334 | 891 |
|  Net increase (decrease) in net assets from operations | 2295 | 1935 | 875 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 300 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (32681) | (11702) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 7372 | (44268) | 5335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (27) | (60) | (118) |
|  Increase (decrease) in net assets from contract transactions | 7345 | (76709) | (6485) |
|  Total increase (decrease) in net assets | 9640 | (74774) | (5610) |
|  Net assets as of December 31, 2024 | $19791 | $— | $55252 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 56 |  | 797 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (259) |  | (772) |
|  Net investment income (loss) | (203) |  | 25 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 615 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 18 |  | 109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2105 |  | 11038 |
|  Net gain (loss) on investments | 2738 |  | 11147 |
|  Net increase (decrease) in net assets from operations | 2535 |  | 11172 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (41) |  | (123) |
|  Increase (decrease) in net assets from contract transactions | (41) |  | (123) |
|  Total increase (decrease) in net assets | 2494 |  | 11049 |
|  Net assets as of December 31, 2025 | $22285 | $— | $66301 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **MFS<sup>®</sup> VIT<br>International<br>Intrinsic Value** | **MFS<sup>®</sup> VIT New<br>Discovery** | **MFS<sup>®</sup> VIT<br>Research** |
|  Net assets as of December 31, 2023 | $139081 | $322925 | $50029 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1719 |  | 203 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1334) | (1024) | (676) |
|  Net investment income (loss) | 385 | (1024) | (473) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 6688 |  | 3179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 744 | (23) | 746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 647 | 20903 | 4888 |
|  Net gain (loss) on investments | 8079 | 20880 | 8813 |
|  Net increase (decrease) in net assets from operations | 8464 | 19856 | 8340 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 24 | 11040 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2564) | (3451) | (3661) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (18) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (235) | (291) | (106) |
|  Increase (decrease) in net assets from contract transactions | (2775) | 7280 | (3767) |
|  Total increase (decrease) in net assets | 5689 | 27136 | 4573 |
|  Net assets as of December 31, 2024 | $144770 | $350061 | $54602 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2239 |  | 85 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1467) | (849) | (686) |
|  Net investment income (loss) | 772 | (849) | (601) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 9575 |  | 13229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2350 | 33736 | 541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 32618 | (2446) | (7324) |
|  Net gain (loss) on investments | 44543 | 31290 | 6446 |
|  Net increase (decrease) in net assets from operations | 45315 | 30441 | 5845 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 12 | 1044 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3027) | (3908) | (3647) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (4234) | (314820) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (210) | (243) | (110) |
|  Increase (decrease) in net assets from contract transactions | (7459) | (317927) | (3757) |
|  Total increase (decrease) in net assets | 37856 | (287486) | 2088 |
|  Net assets as of December 31, 2025 | $182626 | $62575 | $56690 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **MFS<sup>®</sup> VIT Total<br>Return** | **MFS<sup>®</sup> VIT Total<br>Return Bond** | **MFS<sup>®</sup> VIT<br>Utilities** |
|  Net assets as of December 31, 2023 | $35289 | $— | $33418 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 850 |  | 719 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (464) |  | (369) |
|  Net investment income (loss) | 386 |  | 350 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 1822 |  | 1001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 32 |  | 228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (61) |  | 2209 |
|  Net gain (loss) on investments | 1793 |  | 3438 |
|  Net increase (decrease) in net assets from operations | 2179 |  | 3788 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (489) |  | (8804) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (74) |  | (82) |
|  Increase (decrease) in net assets from contract transactions | (563) |  | (8706) |
|  Total increase (decrease) in net assets | 1616 |  | (4918) |
|  Net assets as of December 31, 2024 | $36905 | $— | $28500 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 845 |  | 841 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (432) | (13) | (384) |
|  Net investment income (loss) | 413 | (13) | 457 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 2485 |  | 419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 149 |  | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 136 |  | 2870 |
|  Net gain (loss) on investments | 2770 |  | 3349 |
|  Net increase (decrease) in net assets from operations | 3183 | (13) | 3806 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5699) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (15) | 23 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (68) | (10) | (78) |
|  Increase (decrease) in net assets from contract transactions | (5782) | 13 | 113 |
|  Total increase (decrease) in net assets | (2599) |  | 3919 |
|  Net assets as of December 31, 2025 | $34306 | $— | $32419 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Morningstar<br>Aggressive Growth<br>ETF Asset<br>Allocation Portfolio** | **Morningstar<br>Balanced ETF<br>Asset Allocation<br>Portfolio** | **Morningstar<br>Conservative ETF<br>Asset Allocation<br>Portfolio** |
|  Net assets as of December 31, 2023 | $24250 | $976981 | $774087 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 341 | 17649 | 17287 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (332) | (12292) | (9801) |
|  Net investment income (loss) | 9 | 5357 | 7486 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 395 | 9461 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 83 | 1965 | (9315) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2695 | 68781 | 33764 |
|  Net gain (loss) on investments | 3173 | 80207 | 24449 |
|  Net increase (decrease) in net assets from operations | 3182 | 85564 | 31935 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 52231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (45754) | (102608) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | 89 | (860) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (118) | (3074) | (2392) |
|  Increase (decrease) in net assets from contract transactions | (118) | (48739) | (53629) |
|  Total increase (decrease) in net assets | 3064 | 36825 | (21694) |
|  Net assets as of December 31, 2024 | $27314 | $1013806 | $752393 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 17370 | 19730 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (167) | (11782) | (9345) |
|  Net investment income (loss) | (167) | 5588 | 10385 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 98226 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 7414 | 28573 | (15277) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (5354) | (9398) | 64595 |
|  Net gain (loss) on investments | 2060 | 117401 | 49318 |
|  Net increase (decrease) in net assets from operations | 1893 | 122989 | 59703 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 164195 | 234505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (29167) | (509282) | (286893) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 6 | 6989 | (5934) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (46) | (2811) | (1613) |
|  Increase (decrease) in net assets from contract transactions | (29207) | (340909) | (59935) |
|  Total increase (decrease) in net assets | (27314) | (217920) | (232) |
|  Net assets as of December 31, 2025 | $— | $795886 | $752161 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Morningstar<br>Growth ETF Asset<br>Allocation Portfolio** | **Morningstar<br>Income and<br>Growth ETF Asset<br>Allocation Portfolio** | **NAA All Cap<br>Value Series** |
|  Net assets as of December 31, 2023 | $272071 | $51754 | $119226 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3964 | 1200 | 2035 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3481) | (460) | (1549) |
|  Net investment income (loss) | 483 | 740 | 486 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 5455 | 348 | 6449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 3117 | 93 | 167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 20350 | 2483 | 3513 |
|  Net gain (loss) on investments | 28922 | 2924 | 10129 |
|  Net increase (decrease) in net assets from operations | 29405 | 3664 | 10615 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (28540) | (829) | (346) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1035) | (65) | (553) |
|  Increase (decrease) in net assets from contract transactions | (29575) | (894) | (899) |
|  Total increase (decrease) in net assets | (170) | 2770 | 9716 |
|  Net assets as of December 31, 2024 | $271901 | $54524 | $128942 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2857 | 1023 | 2003 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3087) | (433) | (1615) |
|  Net investment income (loss) | (230) | 590 | 388 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 14349 | 3595 | 29409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 17782 | 1696 | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 4647 | (207) | (15122) |
|  Net gain (loss) on investments | 36778 | 5084 | 14394 |
|  Net increase (decrease) in net assets from operations | 36548 | 5674 | 14782 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (99928) | (13290) | (348) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | (332) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (821) | (58) | (535) |
|  Increase (decrease) in net assets from contract transactions | (100749) | (13348) | (1215) |
|  Total increase (decrease) in net assets | (64201) | (7674) | 13567 |
|  Net assets as of December 31, 2025 | $207700 | $46850 | $142509 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **NAA Large Cap<br>Value Series** | **NAA Large<br>Growth Series** | **NAA Mid Growth<br>Series** |
|  Net assets as of December 31, 2023 | $202387 | $57901 | $136912 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3669 | 1844 | 1038 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2431) | (624) | (934) |
|  Net investment income (loss) | 1238 | 1220 | 104 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 15112 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 3492 | 69 | 23430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 4927 | 16584 | (9545) |
|  Net gain (loss) on investments | 23531 | 16653 | 13885 |
|  Net increase (decrease) in net assets from operations | 24769 | 17873 | 13989 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (47423) | (334) | (106284) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 36035 | 56 | (17421) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1320) | (137) | (126) |
|  Increase (decrease) in net assets from contract transactions | (12708) | (415) | (123831) |
|  Total increase (decrease) in net assets | 12061 | 17458 | (109842) |
|  Net assets as of December 31, 2024 | $214448 | $75359 | $27070 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2937 | 1986 | 773 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2076) | (726) | (340) |
|  Net investment income (loss) | 861 | 1260 | 433 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 34134 | 16676 | 1191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 3229 | 201 | 164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (17150) | (6176) | (3221) |
|  Net gain (loss) on investments | 20213 | 10701 | (1866) |
|  Net increase (decrease) in net assets from operations | 21074 | 11961 | (1433) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (14599) | (320) | (191) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (5713) |  | 1923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1183) | (159) | (14) |
|  Increase (decrease) in net assets from contract transactions | (21495) | (479) | 1718 |
|  Total increase (decrease) in net assets | (421) | 11482 | 285 |
|  Net assets as of December 31, 2025 | $214027 | $86841 | $27355 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **NAA Small Cap<br>Value Series** | **NAA Smid-Cap<br>Value Series** | **NAA World Equity<br>Income Series** |
|  Net assets as of December 31, 2023 | $33052 | $44553 | $51357 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 381 | 613 | 1390 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (260) | (405) | (571) |
|  Net investment income (loss) | 121 | 208 | 819 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 1406 | 1250 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 7 | 29 | 943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 845 | 2092 | 3684 |
|  Net gain (loss) on investments | 2258 | 3371 | 4627 |
|  Net increase (decrease) in net assets from operations | 2379 | 3579 | 5446 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2056) | (657) | (5856) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 57 |  | (595) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (112) | (156) | (156) |
|  Increase (decrease) in net assets from contract transactions | (2111) | (813) | (6607) |
|  Total increase (decrease) in net assets | 268 | 2766 | (1161) |
|  Net assets as of December 31, 2024 | $33320 | $47319 | $50196 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 323 | 537 | 967 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (236) | (411) | (544) |
|  Net investment income (loss) | 87 | 126 | 423 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 6038 | 11608 | 8100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (16) | 18 | 1339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (5358) | (8760) | (212) |
|  Net gain (loss) on investments | 664 | 2866 | 9227 |
|  Net increase (decrease) in net assets from operations | 751 | 2992 | 9650 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2082) | (663) | (6221) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | (549) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (104) | (156) | (150) |
|  Increase (decrease) in net assets from contract transactions | (2186) | (819) | (6920) |
|  Total increase (decrease) in net assets | (1435) | 2173 | 2730 |
|  Net assets as of December 31, 2025 | $31885 | $49492 | $52926 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Neuberger Berman<br>AMT Quality<br>Equity**<br>**Portfolio (a)** | **Nomura VIP Asset<br>Strategy Series (a)** | **Nomura VIP<br>Balanced Series (a)** |
|  Net assets as of December 31, 2023 | $316916 | $527396 | $35524 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1026 | 10601 | 503 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (5355) | (6929) | (488) |
|  Net investment income (loss) | (4329) | 3672 | 15 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 22099 | 21240 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 5060 | 486 | (96) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 70939 | 33720 | 5104 |
|  Net gain (loss) on investments | 98098 | 55446 | 5008 |
|  Net increase (decrease) in net assets from operations | 93769 | 59118 | 5023 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (11150) | (27880) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 85501 | (8) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1211) | (17) | (79) |
|  Increase (decrease) in net assets from contract transactions | 73140 | (27905) | (79) |
|  Total increase (decrease) in net assets | 166909 | 31213 | 4944 |
|  Net assets as of December 31, 2024 | $483825 | $558609 | $40468 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 7824 | 450 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (5718) | (7554) | (450) |
|  Net investment income (loss) | (5718) | 270 |  |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 29906 | 41056 | 1363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 31465 | 1056 | (795) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (415) | 42573 | 3082 |
|  Net gain (loss) on investments | 60956 | 84685 | 3650 |
|  Net increase (decrease) in net assets from operations | 55238 | 84955 | 3650 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (13204) |  | (8473) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (104029) |  | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (999) |  | (71) |
|  Increase (decrease) in net assets from contract transactions | (118232) |  | (8524) |
|  Total increase (decrease) in net assets | (62994) | 84955 | (4874) |
|  Net assets as of December 31, 2025 | $420831 | $643564 | $35594 |

---

(a) Name change. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Nomura VIP<br>Energy Series (a)** | **Nomura VIP<br>Global Growth<br>Series (a)** | **Nomura VIP<br>Growth Series (a)** |
|  Net assets as of December 31, 2023 | $35696 | $143993 | $46403 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 158 | 1480 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (86) | (1570) | (132) |
|  Net investment income (loss) | 72 | (90) | (132) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 1204 | 6721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 6074 | (4366) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (6775) | 26283 | 4241 |
|  Net gain (loss) on investments | (701) | 23121 | 11027 |
|  Net increase (decrease) in net assets from operations | (629) | 23031 | 10895 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (29943) | (13694) | (542) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (164) | 10669 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (24) | (46) | (103) |
|  Increase (decrease) in net assets from contract transactions | (30131) | (3071) | (645) |
|  Total increase (decrease) in net assets | (30760) | 19960 | 10250 |
|  Net assets as of December 31, 2024 | $4936 | $163953 | $56653 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 50 | 342 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (67) | (1216) | (120) |
|  Net investment income (loss) | (17) | (874) | (120) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 18372 | 9779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 573 | (21779) | 2311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 538 | 29278 | (7618) |
|  Net gain (loss) on investments | 1111 | 25871 | 4472 |
|  Net increase (decrease) in net assets from operations | 1094 | 24997 | 4352 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (15) | (137545) | (600) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (559) | (1253) | (33074) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (13) | (44) | (111) |
|  Increase (decrease) in net assets from contract transactions | (587) | (138842) | (33785) |
|  Total increase (decrease) in net assets | 507 | (113845) | (29433) |
|  Net assets as of December 31, 2025 | $5443 | $50108 | $27220 |

---

(a) Name change. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Nomura VIP High<br>Income Series (a)** | **Nomura VIP<br>International Core<br>Equity Series (a)** | **Nomura VIP<br>Limited+Term<br>Bond Series (a)** |
|  Net assets as of December 31, 2023 | $48874 | $41612 | $483 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1532 | 500 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (121) | (519) |  |
|  Net investment income (loss) | 1411 | (19) |  |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 90 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (4289) | 14 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 4389 | 1039 | (8) |
|  Net gain (loss) on investments | 100 | 1143 |  |
|  Net increase (decrease) in net assets from operations | 1511 | 1124 |  |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5019) | (3778) | (482) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (23021) | 4 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (9) | (82) |  |
|  Increase (decrease) in net assets from contract transactions | (28049) | (3856) | (483) |
|  Total increase (decrease) in net assets | (26538) | (2732) | (483) |
|  Net assets as of December 31, 2024 | $22336 | $38880 | $— |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1462 | 176 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (55) | (558) |  |
|  Net investment income (loss) | 1407 | (382) |  |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 9 | 2154 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (448) | 68 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 503 | 6932 |  |
|  Net gain (loss) on investments | 64 | 9154 |  |
|  Net increase (decrease) in net assets from operations | 1471 | 8772 |  |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1817) | (214) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (620) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments |  | (90) |  |
|  Increase (decrease) in net assets from contract transactions | (2437) | (304) |  |
|  Total increase (decrease) in net assets | (966) | 8468 |  |
|  Net assets as of December 31, 2025 | $21370 | $47348 | $— |

---

(a) Name change. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Nomura VIP Mid<br>Cap Growth<br>Series (a)** | **Nomura VIP<br>Natural Resources<br>Series (a)** | **Nomura VIP<br>Science And<br>Technology<br>Series (a)** |
|  Net assets as of December 31, 2023 | $505181 | $3923 | $80713 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 220 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1996) | (50) | (796) |
|  Net investment income (loss) | (1996) | 170 | (796) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 15557 |  | 3819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 419 | 9 | 125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (5072) | (250) | 27548 |
|  Net gain (loss) on investments | 10904 | (241) | 31492 |
|  Net increase (decrease) in net assets from operations | 8908 | (71) | 30696 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 17640 |  | 1000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (6869) |  | (7484) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 6375 |  | 33704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (378) | (20) | (330) |
|  Increase (decrease) in net assets from contract transactions | 16768 | (20) | 26890 |
|  Total increase (decrease) in net assets | 25676 | (91) | 57586 |
|  Net assets as of December 31, 2024 | $530857 | $3832 | $138299 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1513) | (54) | (901) |
|  Net investment income (loss) | (1513) | (54) | (901) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 124468 |  | 24559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (66800) | 15 | 11655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (29982) | 1417 | 11312 |
|  Net gain (loss) on investments | 27686 | 1432 | 47526 |
|  Net increase (decrease) in net assets from operations | 26173 | 1378 | 46625 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 38004 |  | 28623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (21985) |  | (9000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (481340) |  | (47316) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (291) | (23) | (324) |
|  Increase (decrease) in net assets from contract transactions | (465612) | (23) | (28017) |
|  Total increase (decrease) in net assets | (439439) | 1355 | 18608 |
|  Net assets as of December 31, 2025 | $91418 | $5187 | $156907 |

---

(a) Name change. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Nomura VIP Small<br>Cap Growth**<br>**Series (a)** | **Nomura VIP Smid<br>Cap Core**<br>**Series (a)** | **PIMCO VIT All<br>Asset** |
|  Net assets as of December 31, 2023 | $54908 | $27683 | $51138 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 88 | 2955 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (752) | (72) | (398) |
|  Net investment income (loss) | (752) | 16 | 2557 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 49 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (640) | (3650) | (3087) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 8431 | 4767 | 2495 |
|  Net gain (loss) on investments | 7791 | 1166 | (592) |
|  Net increase (decrease) in net assets from operations | 7039 | 1182 | 1965 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 480 |  | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1573) | (25433) | (25687) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (21) | (43) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (120) | (32) | (71) |
|  Increase (decrease) in net assets from contract transactions | (1213) | (25486) | (25765) |
|  Total increase (decrease) in net assets | 5826 | (24304) | (23800) |
|  Net assets as of December 31, 2024 | $60734 | $3379 | $27338 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 5 | 1535 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (814) | (42) | (340) |
|  Net investment income (loss) | (814) | (37) | 1195 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 142 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (203) | (6) | (1926) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 12085 | 138 | 2684 |
|  Net gain (loss) on investments | 11882 | 274 | 758 |
|  Net increase (decrease) in net assets from operations | 11068 | 237 | 1953 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 480 |  | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (234) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 13921 |  | (3788) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (151) | (6) | (61) |
|  Increase (decrease) in net assets from contract transactions | 14016 | (6) | (3831) |
|  Total increase (decrease) in net assets | 25084 | 231 | (1878) |
|  Net assets as of December 31, 2025 | $85818 | $3610 | $25460 |

---

(a) Name change. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **PIMCO VIT<br>CommodityRealRe**<br>**turn Strategy** | **PIMCO VIT<br>Emerging Markets<br>Bond** | **PIMCO VIT<br>Global Bond<br>Opportunities<br>Portfolio<br>(Unhedged)** |
|  Net assets as of December 31, 2023 | $201530 | $244305 | $24155 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3984 | 15488 | 248 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1201) | (834) | (54) |
|  Net investment income (loss) | 2783 | 14654 | 194 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (59673) | (2863) | (4675) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 63130 | 4873 | 4011 |
|  Net gain (loss) on investments | 3457 | 2010 | (664) |
|  Net increase (decrease) in net assets from operations | 6240 | 16664 | (470) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 44060 | 11040 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5442) | (6176) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (114539) | (10329) | (18358) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (229) | (175) | (16) |
|  Increase (decrease) in net assets from contract transactions | (76150) | (5640) | (18374) |
|  Total increase (decrease) in net assets | (69910) | 11024 | (18844) |
|  Net assets as of December 31, 2024 | $131620 | $255329 | $5311 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3890 | 18556 | 251 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (424) | (884) | (14) |
|  Net investment income (loss) | 3466 | 17672 | 237 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (228) | (750) | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 20599 | 20336 | 425 |
|  Net gain (loss) on investments | 20371 | 19586 | 419 |
|  Net increase (decrease) in net assets from operations | 23837 | 37258 | 656 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 8232 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2724) | (6909) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 38 | (1361) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (139) | (206) | (11) |
|  Increase (decrease) in net assets from contract transactions | (2825) | (244) | (11) |
|  Total increase (decrease) in net assets | 21012 | 37014 | 645 |
|  Net assets as of December 31, 2025 | $152632 | $292343 | $5956 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **PIMCO VIT High<br>Yield** | **PIMCO VIT<br>International Bond<br>Portfolio<br>(Unhedged)** | **PIMCO VIT Low<br>Duration<br>Administrative** |
|  Net assets as of December 31, 2023 | $2330 | $103331 | $418616 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 38 | 1993 | 26185 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2) | (310) | (9230) |
|  Net investment income (loss) | 36 | 1683 | 16955 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (209) | (7088) | (395) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 157 | 2510 | 8528 |
|  Net gain (loss) on investments | (52) | (4578) | 8133 |
|  Net increase (decrease) in net assets from operations | (16) | (2895) | 25088 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2321) | (3180) | (18272) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 10 | (42150) | 370706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (3) | (51) | (4619) |
|  Increase (decrease) in net assets from contract transactions | (2314) | (45381) | 347815 |
|  Total increase (decrease) in net assets | (2330) | (48276) | 372903 |
|  Net assets as of December 31, 2024 | $— | $55055 | $791519 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 1995 | 11895 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges |  | (296) | (4266) |
|  Net investment income (loss) |  | 1699 | 7629 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments |  | (634) | 9937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) |  | 4133 | (4429) |
|  Net gain (loss) on investments |  | 3499 | 5508 |
|  Net increase (decrease) in net assets from operations |  | 5198 | 13137 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 2156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (2868) | (673853) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | 3538 | 9461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments |  | (50) | (1614) |
|  Increase (decrease) in net assets from contract transactions |  | 620 | (663850) |
|  Total increase (decrease) in net assets |  | 5818 | (650713) |
|  Net assets as of December 31, 2025 | $— | $60873 | $140806 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **PIMCO VIT Low<br>Duration Advisor** | **PIMCO VIT Real<br>Return<br>Administrative** | **PIMCO VIT Real<br>Return Advisor** |
|  Net assets as of December 31, 2023 | $279207 | $243403 | $260923 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 10873 | 6370 | 7745 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2858) | (3478) | (1216) |
|  Net investment income (loss) | 8015 | 2892 | 6529 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (535) | (2190) | (4275) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 1662 | 731 | 4807 |
|  Net gain (loss) on investments | 1127 | (1459) | 532 |
|  Net increase (decrease) in net assets from operations | 9142 | 1433 | 7061 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 126 |  | 84731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (4734) | (10204) | (24559) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 5 | 16683 | (171377) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (391) | (747) | (371) |
|  Increase (decrease) in net assets from contract transactions | (4994) | 5732 | (111576) |
|  Total increase (decrease) in net assets | 4148 | 7165 | (104515) |
|  Net assets as of December 31, 2024 | $283355 | $250568 | $156408 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 10874 | 8232 | 6427 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2871) | (3477) | (1295) |
|  Net investment income (loss) | 8003 | 4755 | 5132 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (669) | (4413) | (4110) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 4722 | 14734 | 10671 |
|  Net gain (loss) on investments | 4053 | 10321 | 6561 |
|  Net increase (decrease) in net assets from operations | 12056 | 15076 | 11693 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 63 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (765) | (13596) | (2389) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (11208) | (10159) | (423) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (385) | (767) | (369) |
|  Increase (decrease) in net assets from contract transactions | (12295) | (24522) | (3181) |
|  Total increase (decrease) in net assets | (239) | (9446) | 8512 |
|  Net assets as of December 31, 2025 | $283116 | $241122 | $164920 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **PIMCO VIT<br>Short-Term** | **PIMCO VIT Total<br>Return<br>Administrative** | **PIMCO VIT Total<br>Return Advisor** |
|  Net assets as of December 31, 2023 | $681601 | $364407 | $502675 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 32753 | 14336 | 18732 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3587) | (5024) | (4514) |
|  Net investment income (loss) | 29166 | 9312 | 14218 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 241 | (8111) | (10181) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 5559 | 1826 | 2986 |
|  Net gain (loss) on investments | 5800 | (6285) | (7195) |
|  Net increase (decrease) in net assets from operations | 34966 | 3027 | 7023 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (11943) | (46020) | (29170) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (69892) | 28525 | (30109) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (2092) | (1878) | (910) |
|  Increase (decrease) in net assets from contract transactions | (83927) | (19373) | (60189) |
|  Total increase (decrease) in net assets | (48961) | (16346) | (53166) |
|  Net assets as of December 31, 2024 | $632640 | $348061 | $449509 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 29534 | 13101 | 18576 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3631) | (4490) | (4289) |
|  Net investment income (loss) | 25903 | 8611 | 14287 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 551 | (9995) | (1540) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 417 | 24135 | 22068 |
|  Net gain (loss) on investments | 968 | 14140 | 20528 |
|  Net increase (decrease) in net assets from operations | 26871 | 22751 | 34815 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 2826 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (14068) | (67070) | (6702) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 28067 | (1965) | (935) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (2103) | (1817) | (890) |
|  Increase (decrease) in net assets from contract transactions | 11896 | (68026) | (8527) |
|  Total increase (decrease) in net assets | 38767 | (45275) | 26288 |
|  Net assets as of December 31, 2025 | $671407 | $302786 | $475797 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Putnam VT Core<br>Equity Fund** | **Putnam VT Large<br>Cap Growth Fund** | **Putnam VT Large<br>Cap Value** |
|  Net assets as of December 31, 2023 | $— | $364775 | $582137 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  |  | 7046 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (16) | (4975) | (4497) |
|  Net investment income (loss) | (16) | (4975) | 2549 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 17822 | 28677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments |  | 11587 | 14882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (2300) | 90438 | 61573 |
|  Net gain (loss) on investments | (2300) | 119847 | 105132 |
|  Net increase (decrease) in net assets from operations | (2316) | 114872 | 107681 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (42369) | (35708) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 94406 | (607) | 162216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (18) | (1435) | (950) |
|  Increase (decrease) in net assets from contract transactions | 94388 | (44411) | 125588 |
|  Total increase (decrease) in net assets | 92072 | 70461 | 233269 |
|  Net assets as of December 31, 2024 | $92072 | $435236 | $815406 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 389 |  | 12059 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (305) | (5681) | (4760) |
|  Net investment income (loss) | 84 | (5681) | 7299 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 8153 | 42776 | 57683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (24258) | 2755 | 39595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2300 | 18439 | (32664) |
|  Net gain (loss) on investments | (13805) | 63970 | 64614 |
|  Net increase (decrease) in net assets from operations | (13721) | 58289 | 71913 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 19473 | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (1916) | (255911) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (78306) | (583) | (133019) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (45) | (1623) | (770) |
|  Increase (decrease) in net assets from contract transactions | (78351) | 15351 | (389685) |
|  Total increase (decrease) in net assets | (92072) | 73640 | (317772) |
|  Net assets as of December 31, 2025 | $— | $508876 | $497634 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Putnam VT Small<br>Cap Growth** | **Rydex VIF<br>Banking** | **Rydex VIF Basic<br>Materials** |
|  Net assets as of December 31, 2023 | $29325 | $63183 | $143181 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 1737 | 1143 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (429) | (861) | (1536) |
|  Net investment income (loss) | (429) | 876 | (393) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 98 | 318 | 11258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 6716 | 12274 | (14054) |
|  Net gain (loss) on investments | 6814 | 12592 | (2796) |
|  Net increase (decrease) in net assets from operations | 6385 | 13468 | (3189) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (579) | (46793) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | 5014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (136) | (279) | (402) |
|  Increase (decrease) in net assets from contract transactions | (136) | (858) | (42181) |
|  Total increase (decrease) in net assets | 6249 | 12610 | (45370) |
|  Net assets as of December 31, 2024 | $35574 | $75793 | $97811 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 134 | 521 | 1724 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (692) | (1008) | (1389) |
|  Net investment income (loss) | (558) | (487) | 335 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 2324 |  | 9590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 118 | 917 | 2926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (790) | 16170 | 20714 |
|  Net gain (loss) on investments | 1652 | 17087 | 33230 |
|  Net increase (decrease) in net assets from operations | 1094 | 16600 | 33565 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 6839 |  | 15428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (226) | (1496) | (7023) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 318028 |  | (1515) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (205) | (296) | (386) |
|  Increase (decrease) in net assets from contract transactions | 324436 | (1792) | 6504 |
|  Total increase (decrease) in net assets | 325530 | 14808 | 40069 |
|  Net assets as of December 31, 2025 | $361104 | $90601 | $137880 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF<br>Biotechnology** | **Rydex VIF<br>Commodities<br>Strategy** | **Rydex VIF<br>Consumer<br>Products** |
|  Net assets as of December 31, 2023 | $198091 | $49118 | $57603 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 2099 | 851 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2331) | (639) | (723) |
|  Net investment income (loss) | (2331) | 1460 | 128 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 18438 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (399) | 283 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (21235) | 1263 | 1418 |
|  Net gain (loss) on investments | (3196) | 1546 | 1593 |
|  Net increase (decrease) in net assets from operations | (5527) | 3006 | 1721 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 13563 |  | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5936) | (4125) | (4304) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 1317 | (3270) | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (651) | (262) | (143) |
|  Increase (decrease) in net assets from contract transactions | 8293 | (7657) | (4436) |
|  Total increase (decrease) in net assets | 2766 | (4651) | (2715) |
|  Net assets as of December 31, 2024 | $200857 | $44467 | $54888 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 2057 | 716 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2322) | (598) | (637) |
|  Net investment income (loss) | (2322) | 1459 | 79 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 9788 |  | 4008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (687) | 482 | 606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 49885 | (215) | (6870) |
|  Net gain (loss) on investments | 58986 | 267 | (2256) |
|  Net increase (decrease) in net assets from operations | 56664 | 1726 | (2177) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 3 |  | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3518) | (3167) | (4945) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (517) | 7821 | (2988) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (651) | (214) | (123) |
|  Increase (decrease) in net assets from contract transactions | (4683) | 4440 | (8044) |
|  Total increase (decrease) in net assets | 51981 | 6166 | (10221) |
|  Net assets as of December 31, 2025 | $252838 | $50633 | $44667 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF Dow 2x<br>Strategy (b)** | **Rydex VIF<br>Electronics** | **Rydex VIF Energy** |
|  Net assets as of December 31, 2023 | $92542 | $213807 | $118406 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1126 |  | 3373 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1278) | (2918) | (1263) |
|  Net investment income (loss) | (152) | (2918) | 2110 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 2924 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1250 | 29556 | 4546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 16191 | 5802 | (8326) |
|  Net gain (loss) on investments | 17441 | 38282 | (3780) |
|  Net increase (decrease) in net assets from operations | 17289 | 35364 | (1670) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 16946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2979) | (37094) | (3772) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (3777) | (334) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (249) | (1202) | (360) |
|  Increase (decrease) in net assets from contract transactions | (3228) | (42073) | 12480 |
|  Total increase (decrease) in net assets | 14061 | (6709) | 10810 |
|  Net assets as of December 31, 2024 | $106603 | $207098 | $129216 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 888 |  | 2496 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1177) | (2978) | (1140) |
|  Net investment income (loss) | (289) | (2978) | 1356 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 82871 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 6092 | 2845 | 867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 10569 | (1334) | 6465 |
|  Net gain (loss) on investments | 16661 | 84382 | 7332 |
|  Net increase (decrease) in net assets from operations | 16372 | 81404 | 8688 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (16472) | (1352) | (1294) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (13) |  | (2549) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (121) | (1274) | (324) |
|  Increase (decrease) in net assets from contract transactions | (16606) | (2626) | (4167) |
|  Total increase (decrease) in net assets | (234) | 78778 | 4521 |
|  Net assets as of December 31, 2025 | $106369 | $285876 | $133737 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF Energy<br>Services** | **Rydex VIF Europe<br>1.25x Strategy (b)** | **Rydex VIF<br>Financial Services** |
|  Net assets as of December 31, 2023 | $24994 | $27 | $49918 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 2 | 498 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (259) |  | (717) |
|  Net investment income (loss) | (259) | 2 | (219) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (3250) |  | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2184 | (3) | 10194 |
|  Net gain (loss) on investments | (1066) | (3) | 10510 |
|  Net increase (decrease) in net assets from operations | (1325) | (1) | 10291 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (7328) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 17 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (80) |  | (287) |
|  Increase (decrease) in net assets from contract transactions | (7391) |  | (287) |
|  Total increase (decrease) in net assets | (8716) | (1) | 10004 |
|  Net assets as of December 31, 2024 | $16278 | $26 | $59922 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 10 |  | 166 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (191) |  | (399) |
|  Net investment income (loss) | (181) |  | (233) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (247) |  | 5792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 478 | 9 | (3256) |
|  Net gain (loss) on investments | 231 | 9 | 3202 |
|  Net increase (decrease) in net assets from operations | 50 | 9 | 2969 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (101) |  | (31108) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (63) |  | (214) |
|  Increase (decrease) in net assets from contract transactions | (164) |  | (31322) |
|  Total increase (decrease) in net assets | (114) | 9 | (28353) |
|  Net assets as of December 31, 2025 | $16164 | $35 | $31569 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF<br>Government Long<br>Bond 1.2x<br>Strategy (b)** | **Rydex VIF Health<br>Care** | **Rydex VIF<br>Internet** |
|  Net assets as of December 31, 2023 | $19682 | $155255 | $142795 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 284 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (115) | (2004) | (1772) |
|  Net investment income (loss) | 169 | (2004) | (1772) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 4306 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (4248) | 1350 | (1772) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2376 | (5178) | 32502 |
|  Net gain (loss) on investments | (1872) | 478 | 30730 |
|  Net increase (decrease) in net assets from operations | (1703) | (1526) | 28958 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (459) | (3928) | (27456) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (10657) | 6 | 518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (8) | (741) | (712) |
|  Increase (decrease) in net assets from contract transactions | (11124) | (4663) | (27650) |
|  Total increase (decrease) in net assets | (12827) | (6189) | 1308 |
|  Net assets as of December 31, 2024 | $6855 | $149066 | $144103 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 220 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (88) | (1843) | (2033) |
|  Net investment income (loss) | 132 | (1843) | (2033) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 16236 | 17847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (211) | 1448 | 615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 116 | 2018 | 9485 |
|  Net gain (loss) on investments | (95) | 19702 | 27947 |
|  Net increase (decrease) in net assets from operations | 37 | 17859 | 25914 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 10812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (374) | (8581) | (2423) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (157) | (1707) | (204) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (7) | (636) | (814) |
|  Increase (decrease) in net assets from contract transactions | (538) | (10924) | 7371 |
|  Total increase (decrease) in net assets | (501) | 6935 | 33285 |
|  Net assets as of December 31, 2025 | $6354 | $156001 | $177388 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF Inverse<br>Government Long<br>Bond Strategy** | **Rydex VIF Inverse<br>Mid-Cap Strategy** | **Rydex VIF Inverse<br>NASDAQ-100<sup>®</sup><br>Strategy** |
|  Net assets as of December 31, 2023 | $3750 | $13495 | $13850 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3) | (12) | (12) |
|  Net investment income (loss) | (2) | (12) | (12) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 681 | (2266) | (2475) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (167) | 1814 | 1578 |
|  Net gain (loss) on investments | 514 | (452) | (897) |
|  Net increase (decrease) in net assets from operations | 512 | (464) | (909) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (4224) | (60) | (59) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (33) | (12962) | (12873) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (5) | (9) | (9) |
|  Increase (decrease) in net assets from contract transactions | (4262) | (13031) | (12941) |
|  Total increase (decrease) in net assets | (3750) | (13495) | (13850) |
|  Net assets as of December 31, 2024 | $— | $— | $— |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (37) |  |  |
|  Net investment income (loss) | (36) |  |  |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 178 |  | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) |  |  |  |
|  Net gain (loss) on investments | 178 |  | (7) |
|  Net increase (decrease) in net assets from operations | 142 |  | (7) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (45) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (94) |  | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (3) |  |  |
|  Increase (decrease) in net assets from contract transactions | (142) |  | 7 |
|  Total increase (decrease) in net assets |  |  |  |
|  Net assets as of December 31, 2025 | $— | $— | $— |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF Inverse<br>Russell 2000<sup>®</sup><br>Strategy (b)** | **Rydex VIF Inverse<br>S&P 500 Strategy<br>(b)** | **Rydex VIF Japan<br>2x Strategy (b)** |
|  Net assets as of December 31, 2023 | $13394 | $3359 | $51609 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 30 | 371 | 1954 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (18) | (8) | (707) |
|  Net investment income (loss) | 12 | 363 | 1247 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (2379) | (23) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 2348 | (789) | (1370) |
|  Net gain (loss) on investments | (31) | (812) | (1356) |
|  Net increase (decrease) in net assets from operations | (19) | (449) | (109) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (59) |  | (114) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (12887) | (26) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (40) | (6) | (152) |
|  Increase (decrease) in net assets from contract transactions | (12986) | (32) | (268) |
|  Total increase (decrease) in net assets | (13005) | (481) | (377) |
|  Net assets as of December 31, 2024 | $389 | $2878 | $51232 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 11 | 247 | 2540 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (5) | (7) | (766) |
|  Net investment income (loss) | 6 | 240 | 1774 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (42) | (10) | 85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (1) | (578) | 23510 |
|  Net gain (loss) on investments | (43) | (588) | 23595 |
|  Net increase (decrease) in net assets from operations | (37) | (348) | 25369 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  |  | (119) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (4) | 5 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (31) | (6) | (167) |
|  Increase (decrease) in net assets from contract transactions | (35) | (1) | (288) |
|  Total increase (decrease) in net assets | (72) | (349) | 25081 |
|  Net assets as of December 31, 2025 | $317 | $2529 | $76313 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF Leisure** | **Rydex VIF Mid-**<br>**Cap 1.5x<br>Strategy (b)** | **Rydex VIF Money<br>Market** |
|  Net assets as of December 31, 2023 | $49584 | $64077 | $3120786 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 30 | 431 | 170038 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (664) | (886) | (47261) |
|  Net investment income (loss) | (634) | (455) | 122777 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 1350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 72 | (123) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 8000 | 9411 |  |
|  Net gain (loss) on investments | 8072 | 9288 | 1350 |
|  Net increase (decrease) in net assets from operations | 7438 | 8833 | 124127 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 528270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (614) | (288125) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | 1856320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (154) | (184) | (15631) |
|  Increase (decrease) in net assets from contract transactions | (154) | (798) | 2080834 |
|  Total increase (decrease) in net assets | 7284 | 8035 | 2204961 |
|  Net assets as of December 31, 2024 | $56868 | $72112 | $5325747 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 336 | 147035 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (755) | (881) | (57292) |
|  Net investment income (loss) | (755) | (545) | 89743 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 232 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 203 | (44) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 4603 | 3039 | 1 |
|  Net gain (loss) on investments | 4806 | 3227 | 1 |
|  Net increase (decrease) in net assets from operations | 4051 | 2682 | 89744 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 8453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (1210) | (607770) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  | 93625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (174) | (175) | (18575) |
|  Increase (decrease) in net assets from contract transactions | (174) | (1385) | (524267) |
|  Total increase (decrease) in net assets | 3877 | 1297 | (434523) |
|  Net assets as of December 31, 2025 | $60745 | $73409 | $4891224 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF<br>NASDAQ-100<sup>®</sup>** | **Rydex VIF<br>NASDAQ-100<sup>®</sup> 2x<br>Strategy (b)** | **Rydex VIF<br>Nova (b)** |
|  Net assets as of December 31, 2023 | $243288 | $7909 | $35329 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 505 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2210) | (122) | (503) |
|  Net investment income (loss) | (1705) | (122) | (503) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 4676 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 33421 | 216 | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 17742 | 2990 | 9211 |
|  Net gain (loss) on investments | 55839 | 3206 | 10865 |
|  Net increase (decrease) in net assets from operations | 54134 | 3084 | 10362 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 6 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (67613) | (561) | (3026) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (3923) |  | 1676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (656) | (52) | (157) |
|  Increase (decrease) in net assets from contract transactions | (72186) | (613) | (1507) |
|  Total increase (decrease) in net assets | (18052) | 2471 | 8855 |
|  Net assets as of December 31, 2024 | $225236 | $10380 | $44184 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 81 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2272) | (181) | (551) |
|  Net investment income (loss) | (2191) | (181) | (551) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 14705 | 1146 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 16114 | 338 | 3122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 14960 | 2881 | 4372 |
|  Net gain (loss) on investments | 45779 | 4365 | 7494 |
|  Net increase (decrease) in net assets from operations | 43588 | 4184 | 6943 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 33266 | 18 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (9092) | (651) | (2961) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (3470) | 4903 | (2550) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (685) | (62) | (165) |
|  Increase (decrease) in net assets from contract transactions | 20019 | 4208 | (5676) |
|  Total increase (decrease) in net assets | 63607 | 8392 | 1267 |
|  Net assets as of December 31, 2025 | $288843 | $18772 | $45451 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF<br>Precious Metals** | **Rydex VIF Real<br>Estate** | **Rydex VIF<br>Retailing** |
|  Net assets as of December 31, 2023 | $134533 | $71373 | $53472 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2013 | 927 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1780) | (946) | (490) |
|  Net investment income (loss) | 233 | (19) | (490) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 6250 | 234 | 3940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 5155 | 2014 | 2960 |
|  Net gain (loss) on investments | 11405 | 2248 | 6900 |
|  Net increase (decrease) in net assets from operations | 11638 | 2229 | 6410 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 204 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (16162) | (3472) | (27565) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (2792) | 6259 | (312) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (590) | (290) | (136) |
|  Increase (decrease) in net assets from contract transactions | (19340) | 2497 | (28013) |
|  Total increase (decrease) in net assets | (7702) | 4726 | (21603) |
|  Net assets as of December 31, 2024 | $126831 | $76099 | $31869 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 4776 | 1138 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2627) | (899) | (425) |
|  Net investment income (loss) | 2149 | 239 | (425) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 4299 | 837 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 177803 | 486 | 2632 |
|  Net gain (loss) on investments | 182102 | 1323 | 3260 |
|  Net increase (decrease) in net assets from operations | 184251 | 1562 | 2835 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 213 |  | 355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1313) | (11024) | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 3419 | (6346) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (889) | (272) | (125) |
|  Increase (decrease) in net assets from contract transactions | 1430 | (17642) | 187 |
|  Total increase (decrease) in net assets | 185681 | (16080) | 3022 |
|  Net assets as of December 31, 2025 | $312512 | $60019 | $34891 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF Russell<br>2000<sup>®</sup> 1.5x<br>Strategy (b)** | **Rydex VIF Russell<br>2000<sup>®</sup> 2x**<br>**Strategy (b)** | **Rydex VIF S&P<br>500 2x Strategy (b)** |
|  Net assets as of December 31, 2023 | $313 | $244 | $205278 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 3 | 1 | 1641 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (4) | (4) | (3205) |
|  Net investment income (loss) | (1) | (3) | (1564) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (94) | (1) | 3007 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 107 | 20 | 80951 |
|  Net gain (loss) on investments | 13 | 21 | 83958 |
|  Net increase (decrease) in net assets from operations | 12 | 18 | 82394 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (69) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 879 | 2 | (90) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (6) | (1) | (857) |
|  Increase (decrease) in net assets from contract transactions | 804 | 1 | (947) |
|  Total increase (decrease) in net assets | 816 | 19 | 81447 |
|  Net assets as of December 31, 2024 | $1129 | $263 | $286725 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 4 | 14 | 304 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (4) | (3) | (3835) |
|  Net investment income (loss) |  | 11 | (3531) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (119) | (1) | 3225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 58 | 18 | 68782 |
|  Net gain (loss) on investments | (61) | 17 | 72007 |
|  Net increase (decrease) in net assets from operations | (61) | 28 | 68476 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (68) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (779) |  | 3215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (2) | (2) | (844) |
|  Increase (decrease) in net assets from contract transactions | (849) | (2) | 2383 |
|  Total increase (decrease) in net assets | (910) | 26 | 70859 |
|  Net assets as of December 31, 2025 | $219 | $289 | $357584 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF S&P<br>500 Pure Growth** | **Rydex VIF S&P<br>500 Pure Value** | **Rydex VIF S&P<br>MidCap 400 Pure<br>Growth** |
|  Net assets as of December 31, 2023 | $139488 | $537910 | $152500 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 94 | 7477 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2011) | (4709) | (1706) |
|  Net investment income (loss) | (1917) | 2768 | (1706) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 656 |  | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (574) | 7092 | 577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 36194 | 42653 | 22143 |
|  Net gain (loss) on investments | 36276 | 49745 | 22733 |
|  Net increase (decrease) in net assets from operations | 34359 | 52513 | 21027 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (7372) | (24466) | (2846) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 4593 | 4788 | 710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (709) | (2107) | (264) |
|  Increase (decrease) in net assets from contract transactions | (3488) | (21785) | (2400) |
|  Total increase (decrease) in net assets | 30871 | 30728 | 18627 |
|  Net assets as of December 31, 2024 | $170359 | $568638 | $171127 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 7233 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2227) | (4856) | (1294) |
|  Net investment income (loss) | (2227) | 2377 | (1294) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 18843 | 28349 | 9370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2596 | 16395 | (561) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (3371) | 35770 | 1810 |
|  Net gain (loss) on investments | 18068 | 80514 | 10619 |
|  Net increase (decrease) in net assets from operations | 15841 | 82891 | 9325 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 6569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3266) | (51266) | (98994) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (1261) | 12877 | (15262) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (735) | (2100) | (237) |
|  Increase (decrease) in net assets from contract transactions | (5262) | (40489) | (107924) |
|  Total increase (decrease) in net assets | 10579 | 42402 | (98599) |
|  Net assets as of December 31, 2025 | $180938 | $611040 | $72528 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF S&P<br>MidCap 400 Pure<br>Value** | **Rydex VIF S&P<br>SmallCap 600 Pure<br>Growth** | **Rydex VIF S&P<br>SmallCap 600 Pure<br>Value** |
|  Net assets as of December 31, 2023 | $197873 | $32749 | $61875 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 147 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1906) | (307) | (740) |
|  Net investment income (loss) | (1759) | (307) | (740) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 9132 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1041 | (261) | 1319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (2050) | 1954 | 481 |
|  Net gain (loss) on investments | 8123 | 1693 | 1800 |
|  Net increase (decrease) in net assets from operations | 6364 | 1386 | 1060 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (6049) | (19545) | (6141) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (3) | 340 | (360) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (664) | (54) | (54) |
|  Increase (decrease) in net assets from contract transactions | (6716) | (19259) | (6555) |
|  Total increase (decrease) in net assets | (352) | (17873) | (5495) |
|  Net assets as of December 31, 2024 | $197521 | $14876 | $56380 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 245 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1868) | (197) | (698) |
|  Net investment income (loss) | (1623) | (197) | (698) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 20044 |  | 1684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2849 | 19 | 2624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (11126) | 1237 | (493) |
|  Net gain (loss) on investments | 11767 | 1256 | 3815 |
|  Net increase (decrease) in net assets from operations | 10144 | 1059 | 3117 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (23830) | (117) | (8783) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (1036) |  | (639) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (574) | (37) | (46) |
|  Increase (decrease) in net assets from contract transactions | (25440) | (154) | (9468) |
|  Total increase (decrease) in net assets | (15296) | 905 | (6351) |
|  Net assets as of December 31, 2025 | $182225 | $15781 | $50029 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF<br>Strengthening<br>Dollar 2x<br>Strategy (b)** | **Rydex VIF<br>Technology** | **Rydex VIF<br>Transportation** |
|  Net assets as of December 31, 2023 | $14640 | $3301859 | $31658 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 160 |  | 32 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (99) | (30991) | (277) |
|  Net investment income (loss) | 61 | (30991) | (245) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 63836 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1255 | 652993 | (1087) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 695 | (111638) | (213) |
|  Net gain (loss) on investments | 1950 | 605191 | (1300) |
|  Net increase (decrease) in net assets from operations | 2011 | 574200 | (1545) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1031) | (13730) | (15415) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (10334) | (2259941) | 597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (7) | (11793) | (45) |
|  Increase (decrease) in net assets from contract transactions | (11372) | (2285464) | (14863) |
|  Total increase (decrease) in net assets | (9361) | (1711264) | (16408) |
|  Net assets as of December 31, 2024 | $5279 | $1590595 | $15250 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 91 |  |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (34) | (21958) | (189) |
|  Net investment income (loss) | 57 | (21958) | (189) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 160913 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (653) | 15198 | (65) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (734) | 228832 | 1816 |
|  Net gain (loss) on investments | (1387) | 404943 | 1751 |
|  Net increase (decrease) in net assets from operations | (1330) | 382985 | 1562 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 12231 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (144) | (21318) | (107) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (2568) | 8324 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1) | (7826) | (33) |
|  Increase (decrease) in net assets from contract transactions | (2713) | (8589) | (140) |
|  Total increase (decrease) in net assets | (4043) | 374396 | 1422 |
|  Net assets as of December 31, 2025 | $1236 | $1964991 | $16672 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Rydex VIF Utilities** | **Rydex VIF<br>Weakening Dollar<br>2x Strategy (b)** | **T. Rowe Price Blue<br>Chip Growth** |
|  Net assets as of December 31, 2023 | $78979 | $114 | $758277 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1141 | 6 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (837) | (1) | (7588) |
|  Net investment income (loss) | 304 | 5 | (7588) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 47989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 613 | (1) | 29741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 13310 | (20) | 217208 |
|  Net gain (loss) on investments | 13923 | (21) | 294938 |
|  Net increase (decrease) in net assets from operations | 14227 | (16) | 287350 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (4321) |  | (91298) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 32 | (3) | 133628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (355) |  | (2099) |
|  Increase (decrease) in net assets from contract transactions | (4644) | (3) | 40267 |
|  Total increase (decrease) in net assets | 9583 | (19) | 327617 |
|  Net assets as of December 31, 2024 | $88562 | $95 | $1085894 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1400 | 5 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (937) | (3) | (7370) |
|  Net investment income (loss) | 463 | 2 | (7370) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 62926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1285 | 9 | 136973 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 12400 | 17 | (82267) |
|  Net gain (loss) on investments | 13685 | 26 | 117632 |
|  Net increase (decrease) in net assets from operations | 14148 | 28 | 110262 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 43248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3600) | (17) | (266269) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 2367 | 3 | (267642) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (394) | (1) | (1649) |
|  Increase (decrease) in net assets from contract transactions | (1627) | (15) | (492312) |
|  Total increase (decrease) in net assets | 12521 | 13 | (382050) |
|  Net assets as of December 31, 2025 | $101083 | $108 | $703844 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **T. Rowe Price<br>Equity Income** | **T. Rowe Price<br>Health Sciences** | **T. Rowe Price<br>Limited-Term<br>Bond** |
|  Net assets as of December 31, 2023 | $169034 | $290178 | $99621 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1408 |  | 4000 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (830) | (2651) | (718) |
|  Net investment income (loss) | 578 | (2651) | 3282 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 5711 | 26221 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (6641) | 3127 | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 8654 | (24151) | 688 |
|  Net gain (loss) on investments | 7724 | 5197 | 664 |
|  Net increase (decrease) in net assets from operations | 8302 | 2546 | 3946 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (2907) | (13026) | (1578) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (87930) | (38) | 174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (126) | (956) | (171) |
|  Increase (decrease) in net assets from contract transactions | (90963) | (14020) | (1479) |
|  Total increase (decrease) in net assets | (82661) | (11474) | 2467 |
|  Net assets as of December 31, 2024 | $86373 | $278704 | $102088 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1782 |  | 5645 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (814) | (2294) | (781) |
|  Net investment income (loss) | 968 | (2294) | 4864 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 11920 | 9027 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 194 | 2554 | 281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 713 | 21248 | 1404 |
|  Net gain (loss) on investments | 12827 | 32829 | 1685 |
|  Net increase (decrease) in net assets from operations | 13795 | 30535 | 6549 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 36369 | 5635 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (11919) | (65463) | (1992) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (633) | (401) | (3667) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (186) | (621) | (251) |
|  Increase (decrease) in net assets from contract transactions | 23631 | (60850) | (5862) |
|  Total increase (decrease) in net assets | 37426 | (30315) | 687 |
|  Net assets as of December 31, 2025 | $123799 | $248389 | $102775 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Templeton<br>Developing<br>Markets VIP Fund** | **Templeton Foreign<br>VIP Fund** | **Templeton Global<br>Bond VIP Fund** |
|  Net assets as of December 31, 2023 | $408602 | $186950 | $87369 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 16824 | 4449 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2354) | (1832) | (869) |
|  Net investment income (loss) | 14470 | 2617 | (869) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 3233 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (4247) | 1257 | (3662) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 15067 | (7087) | (5715) |
|  Net gain (loss) on investments | 14053 | (5830) | (9377) |
|  Net increase (decrease) in net assets from operations | 28523 | (3213) | (10246) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 11040 |  | 9982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (16568) | (15212) | (10423) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 276 | 497 | (205) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (804) | (1086) | (153) |
|  Increase (decrease) in net assets from contract transactions | (6056) | (15801) | (799) |
|  Total increase (decrease) in net assets | 22467 | (19014) | (11045) |
|  Net assets as of December 31, 2024 | $431069 | $167936 | $76324 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 2717 | 4755 |  |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2497) | (1987) | (897) |
|  Net investment income (loss) | 220 | 2768 | (897) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 8481 | 13278 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (1710) | 740 | (1173) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 185697 | 31320 | 13010 |
|  Net gain (loss) on investments | 192468 | 45338 | 11837 |
|  Net increase (decrease) in net assets from operations | 192688 | 48106 | 10940 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 10163 | 14585 | 240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (20182) | (4394) | (5121) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 852 | (47) | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (911) | (1224) | (154) |
|  Increase (decrease) in net assets from contract transactions | (10078) | 8920 | (5024) |
|  Total increase (decrease) in net assets | 182610 | 57026 | 5916 |
|  Net assets as of December 31, 2025 | $613679 | $224962 | $82240 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **VanEck VIP<br>Global Gold** | **VanEck VIP<br>Global Resources** | **Vanguard<sup>®</sup> VIF<br>Balanced** |
|  Net assets as of December 31, 2023 | $11197 | $9073 | $260722 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 372 | 223 | 5752 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (173) | (118) | (2290) |
|  Net investment income (loss) | 199 | 105 | 3462 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 12440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (22) | (852) | 6898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (6351) | (499) | 5318 |
|  Net gain (loss) on investments | (6373) | (1351) | 24656 |
|  Net increase (decrease) in net assets from operations | (6174) | (1246) | 28118 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (820) | (32) | (91053) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 48779 | 856 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (30) | (18) | (370) |
|  Increase (decrease) in net assets from contract transactions | 47929 | 806 | (91423) |
|  Total increase (decrease) in net assets | 41755 | (440) | (63305) |
|  Net assets as of December 31, 2024 | $52952 | $8633 | $197417 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1231 | 597 | 4337 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1223) | (159) | (1925) |
|  Net investment income (loss) | 8 | 438 | 2412 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 18576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 587 | 20 | 267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 184080 | 6599 | 8899 |
|  Net gain (loss) on investments | 184667 | 6619 | 27742 |
|  Net increase (decrease) in net assets from operations | 184675 | 7057 | 30154 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 13277 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (1257) |  | (2239) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 499749 | 137 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (329) | (48) | (346) |
|  Increase (decrease) in net assets from contract transactions | 498163 | 13366 | (2589) |
|  Total increase (decrease) in net assets | 682838 | 20423 | 27565 |
|  Net assets as of December 31, 2025 | $735790 | $29056 | $224982 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Vanguard<sup>®</sup> VIF<br>Capital Growth** | **Vanguard<sup>®</sup> VIF<br>Conservative<br>Allocation** | **Vanguard<sup>®</sup> VIF<br>Diversified Value** |
|  Net assets as of December 31, 2023 | $75722 | $206260 | $824785 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 918 | 5604 | 14002 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (1425) | (2956) | (3991) |
|  Net investment income (loss) | (507) | 2648 | 10011 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 1678 | 4750 | 50609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 245 | 499 | 12037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 6005 | 3859 | 49012 |
|  Net gain (loss) on investments | 7928 | 9108 | 111658 |
|  Net increase (decrease) in net assets from operations | 7421 | 11756 | 121669 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 31360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (8023) | (6602) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 33769 | 50 | (129225) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (84) | (190) | (642) |
|  Increase (decrease) in net assets from contract transactions | 33685 | (8163) | (105109) |
|  Total increase (decrease) in net assets | 41106 | 3593 | 16560 |
|  Net assets as of December 31, 2024 | $116828 | $209853 | $841345 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 1278 | 5675 | 14241 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2000) | (2177) | (2355) |
|  Net investment income (loss) | (722) | 3498 | 11886 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 5493 | 6647 | 74469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2739 | 10212 | 871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 24558 | (884) | 61672 |
|  Net gain (loss) on investments | 32790 | 15975 | 137012 |
|  Net increase (decrease) in net assets from operations | 32068 | 19473 | 148898 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 69771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (16818) | (191233) | (3034) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 33075 | (129) | (45) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (77) | (197) | (603) |
|  Increase (decrease) in net assets from contract transactions | 16180 | (191559) | 66089 |
|  Total increase (decrease) in net assets | 48248 | (172086) | 214987 |
|  Net assets as of December 31, 2025 | $165076 | $37767 | $1056332 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Vanguard<sup>®</sup> VIF<br>Equity Income** | **Vanguard<sup>®</sup> VIF<br>Equity Index** | **Vanguard<sup>®</sup> VIF<br>Global Bond Index** |
|  Net assets as of December 31, 2023 | $735331 | $2050012 | $8814 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 22532 | 29315 | 252 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (11091) | (8771) | (147) |
|  Net investment income (loss) | 11441 | 20544 | 105 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 47500 | 83811 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1793 | 15179 | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 38011 | 378302 | (58) |
|  Net gain (loss) on investments | 87304 | 477292 | (75) |
|  Net increase (decrease) in net assets from operations | 98745 | 497836 | 30 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 62720 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (10041) | (61033) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (1460) | (75) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1852) | (1816) | (18) |
|  Increase (decrease) in net assets from contract transactions | (13353) | (204) | (18) |
|  Total increase (decrease) in net assets | 85392 | 497632 | 12 |
|  Net assets as of December 31, 2024 | $820723 | $2547644 | $8826 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 21325 | 28732 | 272 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (12066) | (9643) | (149) |
|  Net investment income (loss) | 9259 | 19089 | 123 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 64824 | 55362 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2348 | 37646 | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 46884 | 325434 | 233 |
|  Net gain (loss) on investments | 114056 | 418442 | 227 |
|  Net increase (decrease) in net assets from operations | 123315 | 437531 | 350 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 46605 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (13412) | (82144) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 4 | (11618) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1962) | (1886) | (19) |
|  Increase (decrease) in net assets from contract transactions | (15370) | (49043) | (19) |
|  Total increase (decrease) in net assets | 107945 | 388488 | 331 |
|  Net assets as of December 31, 2025 | $928668 | $2936132 | $9157 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Vanguard<sup>®</sup> VIF<br>Growth** | **Vanguard<sup>®</sup> VIF<br>High Yield Bond** | **Vanguard<sup>®</sup> VIF<br>International** |
|  Net assets as of December 31, 2023 | $239894 | $180043 | $746230 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 769 | 8617 | 9140 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (4603) | (1847) | (4073) |
|  Net investment income (loss) | (3834) | 6770 | 5067 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  | 24196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 10529 | (1716) | (10992) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 67431 | 2925 | 44102 |
|  Net gain (loss) on investments | 77960 | 1209 | 57306 |
|  Net increase (decrease) in net assets from operations | 74126 | 7979 | 62373 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  | 37884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (5889) | (35729) | (47504) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (36894) | (72) | (86417) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (234) | (212) | (799) |
|  Increase (decrease) in net assets from contract transactions | (43017) | (36013) | (96836) |
|  Total increase (decrease) in net assets | 31109 | (28034) | (34463) |
|  Net assets as of December 31, 2024 | $271003 | $152009 | $711767 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 648 | 10071 | 6513 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (4729) | (1582) | (4175) |
|  Net investment income (loss) | (4081) | 8489 | 2338 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 17535 |  | 43894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2506 | (1216) | (130) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 29263 | 3709 | 91448 |
|  Net gain (loss) on investments | 49304 | 2493 | 135212 |
|  Net increase (decrease) in net assets from operations | 45223 | 10982 | 137550 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 115289 |  | 13139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (6473) | (43686) | (9464) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 2570 |  | 563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (259) | (112) | (850) |
|  Increase (decrease) in net assets from contract transactions | 111127 | (43798) | 3388 |
|  Total increase (decrease) in net assets | 156350 | (32816) | 140938 |
|  Net assets as of December 31, 2025 | $427353 | $119193 | $852705 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Vanguard<sup>®</sup> VIF<br>Mid-Cap Index** | **Vanguard<sup>®</sup> VIF<br>Moderate<br>Allocation** | **Vanguard<sup>®</sup> VIF<br>Real Estate Index** |
|  Net assets as of December 31, 2023 | $559640 | $2091003 | $92937 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 7989 | 24944 | 3596 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3950) | (5960) | (732) |
|  Net investment income (loss) | 4039 | 18984 | 2864 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 6658 | 20283 | 3034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 4977 | (17776) | 533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 61231 | 102989 | (947) |
|  Net gain (loss) on investments | 72866 | 105496 | 2620 |
|  Net increase (decrease) in net assets from operations | 76905 | 124480 | 5484 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 798373 | 20335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (35282) | (1175052) | (6005) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (102) | 2620 | (3652) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (324) | (2384) | (101) |
|  Increase (decrease) in net assets from contract transactions | (35708) | (376443) | 10577 |
|  Total increase (decrease) in net assets | 41197 | (251963) | 16061 |
|  Net assets as of December 31, 2024 | $600837 | $1839040 | $108998 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 8004 | 46787 | 2976 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (4365) | (6826) | (678) |
|  Net investment income (loss) | 3639 | 39961 | 2298 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 31886 | 78598 | 1906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 7154 | 2625 | (1489) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 22450 | 165202 | (136) |
|  Net gain (loss) on investments | 61490 | 246425 | 281 |
|  Net increase (decrease) in net assets from operations | 65129 | 286386 | 2579 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 28125 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (33350) | (44598) | (11839) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 38539 | (11) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (310) | (2646) | (99) |
|  Increase (decrease) in net assets from contract transactions | 33004 | (47255) | (11938) |
|  Total increase (decrease) in net assets | 98133 | 239131 | (9359) |
|  Net assets as of December 31, 2025 | $698970 | $2078171 | $99639 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Vanguard<sup>®</sup> VIF<br>Short Term**<br>**Investment Grade** | **Vanguard<sup>®</sup> VIF<br>Small Company**<br>**Growth (b)** | **Vanguard<sup>®</sup> VIF<br>Total Bond Market**<br>**Index** |
|  Net assets as of December 31, 2023 | $660534 | $68423 | $2612104 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 23967 | 384 | 69900 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (6401) | (1007) | (12864) |
|  Net investment income (loss) | 17566 | (623) | 57036 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 1820 | (203) | (13466) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 15282 | 7529 | (24466) |
|  Net gain (loss) on investments | 17102 | 7326 | (37932) |
|  Net increase (decrease) in net assets from operations | 34668 | 6703 | 19104 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 64741 |  | 78154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (53123) | (185) | (279336) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 172069 | 20 | (1313) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1529) | (270) | (846) |
|  Increase (decrease) in net assets from contract transactions | 182158 | (435) | (203341) |
|  Total increase (decrease) in net assets | 216826 | 6268 | (184237) |
|  Net assets as of December 31, 2024 | $877360 | $74691 | $2427867 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 40846 | 349 | 88466 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (7265) | (1025) | (12353) |
|  Net investment income (loss) | 33581 | (676) | 76113 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  | 4964 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 2048 | (210) | (11446) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 17989 | (639) | 91865 |
|  Net gain (loss) on investments | 20037 | 4115 | 80419 |
|  Net increase (decrease) in net assets from operations | 53618 | 3439 | 156532 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 59387 |  | 60293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (8687) | (170) | (141958) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (115338) |  | 26576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (1715) | (246) | (640) |
|  Increase (decrease) in net assets from contract transactions | (66353) | (416) | (55729) |
|  Total increase (decrease) in net assets | (12735) | 3023 | 100803 |
|  Net assets as of December 31, 2025 | $864625 | $77714 | $2528670 |

---

(b) Closed to new investments. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Vanguard<sup>®</sup> VIF<br>Total International<br>Stock Market<br>Index** | **Vanguard<sup>®</sup> VIF<br>Total Stock Market<br>Index** | **Victory Pioneer<br>Bond VCT<br>Portfolio (a)** |
|  Net assets as of December 31, 2023 | $189365 | $1661795 | $163895 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 7133 | 23633 | 6969 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2097) | (11474) | (2073) |
|  Net investment income (loss) | 5036 | 12159 | 4896 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 1210 | 129566 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 359 | 80028 | (477) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 1701 | 184638 | (1611) |
|  Net gain (loss) on investments | 3270 | 394232 | (2088) |
|  Net increase (decrease) in net assets from operations | 8306 | 406391 | 2808 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 40671 | 265427 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3476) | (303893) | (1484) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | 2044 | (38663) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (178) | (1592) | (645) |
|  Increase (decrease) in net assets from contract transactions | 39061 | (78721) | (2129) |
|  Total increase (decrease) in net assets | 47367 | 327670 | 679 |
|  Net assets as of December 31, 2024 | $236732 | $1989465 | $164574 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 7549 | 25563 | 7231 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2272) | (12381) | (2129) |
|  Net investment income (loss) | 5277 | 13182 | 5102 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 4602 | 119335 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | 4475 | 15763 | (477) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 56745 | 190281 | 7682 |
|  Net gain (loss) on investments | 65822 | 325379 | 7205 |
|  Net increase (decrease) in net assets from operations | 71099 | 338561 | 12307 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  | 144869 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (22120) | (61450) | (2943) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | 620 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (202) | (1712) | (671) |
|  Increase (decrease) in net assets from contract transactions | (22322) | 82327 | (3614) |
|  Total increase (decrease) in net assets | 48777 | 420888 | 8693 |
|  Net assets as of December 31, 2025 | $285509 | $2410353 | $173267 |

---

(a) Name change. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Victory Pioneer<br>Equity Income<br>VCT Portfolio (a)** | **Victory Pioneer<br>Strategic Income<br>VCT Portfolio (a)** | **Virtus Duff &<br>Phelps Real Estate<br>Securities Series** |
|  Net assets as of December 31, 2023 | $13910 | $85953 | $15578 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 287 | 3338 | 295 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (186) | (1045) | (203) |
|  Net investment income (loss) | 101 | 2293 | 92 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 2670 |  | 182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (96) | (1519) | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (1343) | 1367 | 1227 |
|  Net gain (loss) on investments | 1231 | (152) | 1386 |
|  Net increase (decrease) in net assets from operations | 1332 | 2141 | 1478 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (9928) | (40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | 12 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (30) | (164) | (32) |
|  Increase (decrease) in net assets from contract transactions | (30) | (10080) | (72) |
|  Total increase (decrease) in net assets | 1302 | (7939) | 1406 |
|  Net assets as of December 31, 2024 | $15212 | $78014 | $16984 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions | 316 | 3557 | 453 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (197) | (1017) | (213) |
|  Net investment income (loss) | 119 | 2540 | 240 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 2265 |  | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (117) | (256) | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (786) | 5043 | (395) |
|  Net gain (loss) on investments | 1362 | 4787 | (331) |
|  Net increase (decrease) in net assets from operations | 1481 | 7327 | (91) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (1392) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (31) | (162) | (33) |
|  Increase (decrease) in net assets from contract transactions | (31) | (1555) | (33) |
|  Total increase (decrease) in net assets | 1450 | 5772 | (124) |
|  Net assets as of December 31, 2025 | $16662 | $83786 | $16860 |

---

(a) Name change. See Note 1.

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Virtus KAR Small-**<br>**Cap Growth Series** | **Virtus Newfleet<br>Multi-Sector<br>Intermediate Bond<br>Series** | **Virtus SGA<br>International<br>Growth Series** |
|  Net assets as of December 31, 2023 | $311687 | $9314 | $57031 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 29 | 111 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (3022) | (68) | (138) |
|  Net investment income (loss) | (3022) | (39) | (27) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 21280 |  | 95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (18982) | (574) | (74) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 28997 | 881 | (3249) |
|  Net gain (loss) on investments | 31295 | 307 | (3228) |
|  Net increase (decrease) in net assets from operations | 28273 | 268 | (3255) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 9623 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (7922) | (9538) | (1345) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (68555) | (35) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (477) | (9) | (301) |
|  Increase (decrease) in net assets from contract transactions | (67331) | (9582) | (1646) |
|  Total increase (decrease) in net assets | (39058) | (9314) | (4901) |
|  Net assets as of December 31, 2024 | $272629 | $— | $52130 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  |  | 98 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (2089) |  | (137) |
|  Net investment income (loss) | (2089) |  | (39) |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 46596 |  | 1782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (34158) |  | (44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (70340) |  | 2941 |
|  Net gain (loss) on investments | (57902) |  | 4679 |
|  Net increase (decrease) in net assets from operations | (59991) |  | 4640 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits | 13277 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments | (3051) |  | (1134) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net | (52340) |  | (31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (383) |  | (303) |
|  Increase (decrease) in net assets from contract transactions | (42497) |  | (1468) |
|  Total increase (decrease) in net assets | (102488) |  | 3172 |
|  Net assets as of December 31, 2025 | $170141 | $— | $55302 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Statements of Operations and Change in Net Assets (continued)

Years Ended December 31, 2025 and 2024, Except as Noted

---

| | | | |
|:---|:---|:---|:---|
|  | **Voya MidCap<br>Opportunities<br>Portfolio** | **VY CBRE Global<br>Real Estate<br>Portfolio** | **VY CBRE Real<br>Estate Portfolio** |
|  Net assets as of December 31, 2023 | $59558 | $25732 | $24280 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 315 | 583 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (799) | (97) | (62) |
|  Net investment income (loss) | (799) | 218 | 521 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (440) | (2623) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | 9421 | 1782 | 420 |
|  Net gain (loss) on investments | 8981 | (841) | 420 |
|  Net increase (decrease) in net assets from operations | 8182 | (623) | 941 |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (13873) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  | 21 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (339) | (30) | (45) |
|  Increase (decrease) in net assets from contract transactions | (339) | (13882) | (45) |
|  Total increase (decrease) in net assets | 7843 | (14505) | 896 |
|  Net assets as of December 31, 2024 | $67401 | $11227 | $25176 |
|  Investment income (loss): |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend distributions |  | 277 | 634 |
|  Investment Expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortality and expense risk and administrative charges | (862) | (44) | (62) |
|  Net investment income (loss) | (862) | 233 | 572 |
|  Increase (decrease) in net assets from operations: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital gain distributions | 10485 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Realized capital gain (loss) on investments | (362) | (21) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (7780) | 450 | (660) |
|  Net gain (loss) on investments | 2343 | 429 | (660) |
|  Net increase (decrease) in net assets from operations | 1481 | 662 | (88) |
|  Contract owner transactions: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable annuity deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Terminations, withdrawals and annuity payments |  | (124) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transfers between subaccounts, net |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Maintenance charges and mortality adjustments | (365) | (22) | (16) |
|  Increase (decrease) in net assets from contract transactions | (365) | (146) | (16) |
|  Total increase (decrease) in net assets | 1116 | 516 | (104) |
|  Net assets as of December 31, 2025 | $68517 | $11743 | $25072 |

---

The accompanying notes are an integral part of these financial statements.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements

December 31, 2025

**1. Organization and Significant Accounting Policies** 

Variable Annuity Account A (the Account) is a deferred variable annuity contract offered by First Security Benefit Life Insurance and Annuity Company of New York (FSBL). The Account is an investment company as defined by Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 946. The Account follows the accounting guidance as outlined in ASC 946. Purchase payments for AdvisorDesigns, EliteDesigns and EliteDesigns II are allocated to one or more of the subaccounts that comprise the Account. The Account is registered as a unit investment trust under the Investment Company Act of 1940, as amended. As directed by the owners, amounts directed to each subaccount are invested in a designated mutual fund as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  AB VPS Discovery Value Portfolio | B | AllianceBernstein LP | —  |
|  AB VPS Dynamic Asset Allocation | B | AllianceBernstein LP | —  |
|  AB VPS Relative Value Portfolio | B | AllianceBernstein LP | —  |
|  AB VPS Sustainable Global Thematic Growth | B | AllianceBernstein LP | —  |
|  AFIS Capital World Growth and Income | Class 4 | Capital Research and Management Company | —  |
|  AFIS U.S. Government Securities | Class 4 | Capital Research and Management Company | —  |
|  AFIS Washington Mutual Investors | Class 4 | Capital Research and Management Company | —  |
|  Alger Capital Appreciation | Class S | Fred Alger Management, LLC | —  |
|  Alger Large Cap Growth | Class I-2 | Fred Alger Management, LLC | —  |
|  Allspring Opportunity VT | 2 | Allspring Funds Management LLC | Allspring Global Investments, LLC |
|  Allspring VT Discovery All Cap Growth Fund | 2 | Allspring Funds Management LLC | Allspring Global Investments, LLC |
|  ALPS/Alerian Energy Infrastructure | Class III | ALPS Advisors Inc | —  |
|  American Funds IS<sup>®</sup> Asset Allocation | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> Capital World Bond | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> Global Growth | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> Global Small Capitalization | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> Growth | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> Growth-Income | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> International | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> International Growth and Income | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> Mortgage | Class 4 | Capital Research and Management Company | —  |
|  American Funds IS<sup>®</sup> New World | Class 4 | Capital Research and Management Company | —  |
|  BlackRock Advantage Large Cap Core V.I. | Class 3 | BlackRock Advisors LLC | —  |
|  BlackRock Basic Value V.I. | Class 3 | BlackRock Advisors LLC | —  |
|  BlackRock Capital Appreciation V.I. | Class 3 | BlackRock Advisors LLC | —  |
|  BlackRock Equity Dividend V.I. | Class 3 | BlackRock Advisors LLC | —  |
|  BlackRock Global Allocation V.I. | Class 3 | BlackRock Advisors LLC | BlackRock (Singapore) Ltd |
|  BlackRock High Yield V.I. | Class 3 | BlackRock Advisors LLC | BlackRock International Ltd |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  BlackRock Large Cap Focus Growth V.I. | Class 3 | BlackRock Advisors LLC | —  |
|  BNY Mellon IP Small Cap Stock Index | Service | BNY Mellon Investment Adviser, Inc | —  |
|  BNY Mellon IP Technology Growth | Service | BNY Mellon Investment Adviser, Inc | Newton Investment Management North America, LLC |
|  BNY Mellon Stock Index | Service | BNY Mellon Investment Adviser, Inc | Mellon Investments Corporation |
|  BNY Mellon VIF Appreciation | Service | BNY Mellon Investment Adviser, Inc | Fayez Sarofim & Company |
|  Dimensional VA Equity Allocation | Inst Class | Dimensional Fund Advisors LP | Dimensional Fund Advisors Ltd<br> DFA Australia Ltd |
|  Dimensional VA Global Bond Portfolio | Inst Class | Dimensional Fund Advisors LP | Dimensional Fund Advisors Ltd<br> DFA Australia Ltd |
|  Dimensional VA Global Moderate Allocation | Inst Class | Dimensional Fund Advisors LP | —  |
|  Dimensional VA International Small Portfolio | Inst Class | Dimensional Fund Advisors LP | Dimensional Fund Advisors Ltd<br> DFA Australia Ltd |
|  Dimensional VA International Value Portfolio | Inst Class | Dimensional Fund Advisors LP | Dimensional Fund Advisors Ltd<br> DFA Australia Ltd |
|  Dimensional VA Short-Term Fixed Portfolio | Inst Class | Dimensional Fund Advisors LP | Dimensional Fund Advisors Ltd<br> DFA Australia Ltd |
|  Dimensional VA U.S. Large Value Portfolio | Inst Class | Dimensional Fund Advisors LP | —  |
|  Dimensional VA U.S. Targeted Value Portfolio | Inst Class | Dimensional Fund Advisors LP | —  |
|  Donoghue Forlines Dividend VIT Fund | 1 | Donoghue Forlines, LLC | —  |
|  Donoghue Forlines Momentum VIT Fund | 1 | Donoghue Forlines, LLC | —  |
|  DWS Small Mid Cap Value VIP | B | DWS Investment Management Americas, Inc | —  |
|  Eaton Vance VT Floating-Rate Income |  | Eaton Vance Management | —  |
|  Federated Hermes Fund for U.S. Government Securities II | Primary | Federated Investment Management Company | —  |
|  Federated Hermes High Income Bond II | Service | Federated Investment Management Company | —  |
|  Fidelity<sup>®</sup> VIP Balanced | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> Fidelity Management & Research (HK) Ltd |
|  Fidelity<sup>®</sup> VIP Contrafund | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> Fidelity Management & Research (HK) Ltd |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  Fidelity<sup>®</sup> VIP Disciplined Small Cap | Service Class 2 | Fidelity Management & Research Company LLC | Geode Capital Management, LLC |
|  Fidelity<sup>®</sup> VIP Emerging Markets | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> FIL Investments (Japan) Ltd<br> Fil Investment Advisors<br> FIL Investment Advisors (UK) Ltd<br> Fidelity Management & Research (UK) Ltd |
|  Fidelity<sup>®</sup> VIP Growth & Income | Service Class 2 | Fidelity Management & Research Company LLC | Fidelity Management & Research (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> Fidelity Management & Research (HK) Ltd<br> FMR Co., Inc (FMRC) |
|  Fidelity<sup>®</sup> VIP Growth Opportunities | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> Fidelity Management & Research (HK) Ltd |
|  Fidelity<sup>®</sup> VIP High Income | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> Fidelity Management & Research (HK) Ltd |
|  Fidelity<sup>®</sup> VIP Index 500 | Service Class 2 | Fidelity Management & Research Company LLC | Geode Capital Management, LLC |
|  Fidelity<sup>®</sup> VIP Investment Grade Bond | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> Fidelity Management & Research (HK) Ltd |
|  Fidelity<sup>®</sup> VIP Mid Cap | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> Fidelity Management & Research (HK) Ltd |
|  Fidelity<sup>®</sup> VIP Overseas | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> FIL Investments (Japan) Ltd<br> Fil Investment Advisors<br> Fidelity Management & Research (HK) Ltd<br> FIL Investment Advisors (UK) Ltd |
|  Fidelity<sup>®</sup> VIP Real Estate | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd<br> Fidelity Management & Research (Japan) Ltd<br> Fidelity Management & Research (HK) Ltd |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  Fidelity<sup>®</sup> VIP Strategic Income | Service Class 2 | Fidelity Management & Research Company LLC | FMR Investment Management (UK) Ltd Fidelity Management & Research (Japan) Ltd FIL Investments (Japan) Ltd Fil Investment Advisors FIL Investment Advisors (UK) Ltd Fidelity Management & Research (UK) Ltd |
|  Franklin DynaTech VIP | Class 2 | Franklin Advisers, Inc |  |
|  Franklin Growth and Income VIP Fund | Class 2 | Franklin Advisers, Inc |  |
|  Franklin Income VIP Fund | Class 2 | Franklin Advisers, Inc |  |
|  Franklin Large Cap Growth VIP Fund | Class 2 | Franklin Advisers, Inc |  |
|  Franklin Mutual Global Discovery VIP Fund | Class 2 | Franklin Mutual Advisers, LLC |  |
|  Franklin Mutual Shares VIP Fund | Class 2 | Franklin Mutual Advisers, LLC |  |
|  Franklin Rising Dividends VIP Fund | Class 2 | Franklin Advisers, Inc |  |
|  Franklin Small Cap Value VIP Fund | Class 2 | Franklin Mutual Advisers, LLC |  |
|  Franklin Small-Mid Cap Growth VIP Fund | Class 2 | Franklin Advisers, Inc |  |
|  Franklin Strategic Income VIP Fund | Class 2 | Franklin Advisers, Inc |  |
|  Franklin U.S. Government Securities VIP Fund | Class 2 | Franklin Advisers, Inc |  |
|  Goldman Sachs VIT International Equity Insights | Service | Goldman Sachs Asset Management, LP |  |
|  Goldman Sachs VIT Large Cap Value | Service | Goldman Sachs Asset Management, LP |  |
|  Goldman Sachs VIT Mid Cap Growth Fund | Service | Goldman Sachs Asset Management, LP |  |
|  Goldman Sachs VIT Mid Cap Value | Service | Goldman Sachs Asset Management, LP |  |
|  Goldman Sachs VIT Small Cap Equity Insights | Service | Goldman Sachs Asset Management, LP |  |
|  Goldman Sachs VIT Strategic Growth | Service | Goldman Sachs Asset Management, LP |  |
|  Guggenheim VIF Floating Rate Strategies |  | Guggenheim Partners Investment Mgmt LLC |  |
|  Guggenheim VIF Global Managed Futures Strategy |  | Security Investors, LLC |  |
|  Guggenheim VIF High Yield |  | Security Investors, LLC |  |
|  Guggenheim VIF Multi-Hedge Strategies |  | Security Investors, LLC |  |
|  Guggenheim VIF Total Return Bond |  | Security Investors, LLC |  |
|  Invesco V.I. American Franchise | Series I | Invesco Advisers, Inc |  |
|  Invesco V.I. American Franchise | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. American Value | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Balanced-Risk Allocation | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Comstock | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Core Equity | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Discovery Mid Cap Growth | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Equally-Weighted S&P 500 | Series II | Invesco Advisers, Inc | Invesco Capital Management LLC |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  Invesco V.I. Equity and Income | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. EVQ International Equity Fund | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Global | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Global Core Equity | Series II | Invesco Advisers, Inc | Invesco Canada Ltd |
|  Invesco V.I. Global Real Estate | Series II | Invesco Advisers, Inc | Invesco Asset Management Ltd |
|  Invesco V.I. Global Strategic Income | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Government Securities | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Growth and Income | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Health Care | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. High Yield | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. International Growth Fund | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Main Street Mid Cap Fund<sup>®</sup> | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Main Street Small Cap Fund<sup>®</sup> | Series II | Invesco Advisers, Inc |  |
|  Invesco V.I. Small Cap Equity | Series II | Invesco Advisers, Inc |  |
|  Janus Henderson VIT Enterprise | Service | Janus Capital Management LLC |  |
|  Janus Henderson VIT Forty | Service | Janus Capital Management LLC |  |
|  Janus Henderson VIT Mid Cap Value | Service | Janus Capital Management LLC |  |
|  Janus Henderson VIT Overseas | Service | Janus Capital Management LLC |  |
|  Janus Henderson VIT Research | Service | Janus Capital Management LLC |  |
|  Lord Abbett Series Bond-Debenture VC | VC | Lord, Abbett & Co LLC |  |
|  Lord Abbett Series Developing Growth VC | VC | Lord, Abbett & Co LLC |  |
|  Lord Abbett Series Dividend Growth VC | VC | Lord, Abbett & Co LLC |  |
|  Lord Abbett Series Fundamental Equity VC | VC | Lord, Abbett & Co LLC |  |
|  Lord Abbett Series Growth and Income VC | VC | Lord, Abbett & Co LLC |  |
|  Lord Abbett Series Growth Opportunities VC | VC | Lord, Abbett & Co LLC |  |
|  Lord Abbett Series Mid Cap Stock VC | VC | Lord, Abbett & Co LLC |  |
|  Lord Abbett Series Total Return VC | VC | Lord, Abbett & Co LLC |  |
|  LVIP American Century Disciplined Core Value | Service Class | American Century Investment Management, Inc |  |
|  LVIP American Century Inflation Protection | Service Class | American Century Investment Management, Inc |  |
|  LVIP American Century International | Service Class | American Century Investment Management, Inc |  |
|  LVIP American Century Mid Cap Value | Service Class | American Century Investment Management, Inc |  |
|  LVIP American Century Value | Service Class | American Century Investment Management, Inc |  |
|  LVIP JPMorgan Core Bond Fund | Service Class | J.P. Morgan Investment Management, Inc |  |
|  LVIP JPMorgan Small Cap Core Fund | Service Class | J.P. Morgan Investment Management, Inc |  |
|  LVIP JPMorgan US Equity Fund | Service Class | J.P. Morgan Investment Management, Inc |  |
|  MFS<sup>®</sup> VIT Emerging Markets Equity | Service | Massachusetts Financial Services Company |  |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  MFS<sup>®</sup> VIT Global Tactical Allocation | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT High Yield | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT II MA Investors Growth Stock | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT II Research International | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT International Intrinsic Value | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT Investors Trust | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT New Discovery | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT Research | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT Total Return | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT Total Return Bond | Service | Massachusetts Financial Services Company |  |
|  MFS<sup>®</sup> VIT Utilities | Service | Massachusetts Financial Services Company |  |
|  Morgan Stanley VIF Emerging Markets Debt | II | Morgan Stanley Investment Management, Inc | Morgan Stanley Investment Management Ltd |
|  Morgan Stanley VIF Emerging Markets Equity | II | Morgan Stanley Investment Management, Inc | Morgan Stanley Investment Management Co |
|  Morningstar Aggressive Growth ETF Asset Allocation Portfolio | Class II | ALPS Advisors Inc | Morningstar Investment Management LLC |
|  Morningstar Balanced ETF Asset Allocation Portfolio | Class II | ALPS Advisors Inc | Morningstar Investment Management LLC |
|  Morningstar Conservative ETF Asset Allocation Portfolio | Class II | ALPS Advisors Inc | Morningstar Investment Management LLC |
|  Morningstar Growth ETF Asset Allocation Portfolio | Class II | ALPS Advisors Inc | Morningstar Investment Management LLC |
|  Morningstar Income and Growth ETF Asset Allocation Portfolio | Class II | ALPS Advisors Inc | Morningstar Investment Management LLC |
|  NAA All Cap Value Series |  | Security Investors, LLC |  |
|  NAA Large Cap Value Series |  | Security Investors, LLC |  |
|  NAA Large Core Series |  | Security Investors, LLC |  |
|  NAA Large Growth Series |  | Security Investors, LLC |  |
|  NAA Mid Growth Series |  | Security Investors, LLC |  |
|  NAA Small Cap Value Series |  | Security Investors, LLC |  |
|  NAA Small Growth Series |  | Security Investors, LLC |  |
|  NAA Smid-Cap Value Series |  | Security Investors, LLC |  |
|  NAA World Equity Income Series |  | Security Investors, LLC |  |
|  Neuberger Berman AMT Quality Equity Portfolio | Class I | Neuberger Berman Investment Advisers LLC |  |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  Nomura VIP Asset Strategy Series | Service Class | Delaware Management Company | Macquarie Funds Management HK Ltd. Macquarie Investment Management Global Limited Macquarie Investment Management Austria Kapitalanlage AG Macquarie Investment Management Europe Limited |
|  Nomura VIP Balanced Series | Service Class | Delaware Management Company | Macquarie Funds Management HK Ltd.<br> Macquarie Investment Management Global Limited<br> Macquarie Investment Management Austria Kapitalanlage AG<br> Macquarie Investment Management Europe Limited |
|  Nomura VIP Core Equity Series | Service Class | Delaware Management Company | —  |
|  Nomura VIP Energy Series | Service Class | Delaware Management Company | Macquarie Funds Management HK Ltd.<br> Macquarie Investment Management Global Limited |
|  Nomura VIP Global Growth Series | Service Class | Delaware Management Company | —  |
|  Nomura VIP Growth Series | Service Class | Delaware Management Company | —  |
|  Nomura VIP High Income Series | Service Class | Delaware Management Company | Macquarie Investment Management Global Limited<br> Macquarie Investment Management Austria Kapitalanlage AG<br> Macquarie Investment Management Europe Limited |
|  Nomura VIP International Core Equity Series | Service Class | Delaware Management Company | Macquarie Funds Management HK Ltd.<br> Macquarie Investment Management Global Limited |
|  Nomura VIP Limited+Term Bond Series | Service Class | Delaware Management Company | Macquarie Investment Management Global Limited<br> Macquarie Investment Management Austria Kapitalanlage AG<br> Macquarie Investment Management Europe Limited |
|  Nomura VIP Mid Cap Growth Series | Service Class | Delaware Management Company | —  |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  Nomura VIP Natural Resources Series | Service Class | Delaware Management Company | Macquarie Funds Management HK Ltd. Macquarie Investment Management Global Limited |
|  Nomura VIP Science And Technology Series | Service Class | Delaware Management Company | —  |
|  Nomura VIP Small Cap Growth Series | Service Class | Delaware Management Company | —  |
|  Nomura VIP Smid Cap Core Series | Service Class | Delaware Management Company | Macquarie Funds Management HK Ltd.<br> Macquarie Investment Management Global Limited |
|  Nomura VIP Value Series | Service Class | Delaware Management Company | —  |
|  PIMCO VIT All Asset | Advisor | Pacific Investment Management Company, LLC | Research Affiliates LLC |
|  PIMCO VIT CommodityRealReturn Strategy | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Emerging Markets Bond | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Global Bond Opportunities Portfolio (Unhedged) | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Global Managed Asset Allocation | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT High Yield | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT International Bond Portfolio (Unhedged) | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Low Duration | Administrative | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Low Duration | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Real Return | Administrative | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Real Return | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Short-Term | Advisor | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Total Return | Administrative | Pacific Investment Management Company, LLC | —  |
|  PIMCO VIT Total Return | Advisor | Pacific Investment Management Company, LLC | —  |
|  Putnam VT Core Equity Fund | IB | Putnam Investment Management, LLC | Putnam Investments Ltd |
|  Putnam VT Diversified Income | IB | Putnam Investment Management, LLC | Putnam Investments Ltd |
|  Putnam VT Global Asset Allocation | IB | Putnam Investment Management, LLC | Putnam Advisory Company, LLC<br> Putnam Investments Ltd |
|  Putnam VT High Yield | IB | Putnam Investment Management, LLC | Putnam Investments Ltd |
|  Putnam VT Income | IB | Putnam Investment Management, LLC | Putnam Investments Ltd |
|  Putnam VT Large Cap Growth Fund | IB | Putnam Investment Management, LLC | Putnam Investments Ltd |
|  Putnam VT Large Cap Value | IB | Putnam Investment Management, LLC | Putnam Investments Ltd |
|  Putnam VT Small Cap Growth | IB | Putnam Investment Management, LLC | Putnam Investments Ltd |
|  Rydex VIF Banking |  | Security Investors, LLC | —  |
|  Rydex VIF Basic Materials |  | Security Investors, LLC | —  |
|  Rydex VIF Biotechnology |  | Security Investors, LLC | —  |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | |
|:---|:---|
| **Subaccount/Mutual Fund** | **Sub-Adviser** |
|  Rydex VIF Commodities Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Consumer Products<br> – Security Investors, LLC |  |
|  Rydex VIF Dow 2x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Electronics<br> – Security Investors, LLC |  |
|  Rydex VIF Energy<br> – Security Investors, LLC |  |
|  Rydex VIF Energy Services<br> – Security Investors, LLC |  |
|  Rydex VIF Europe 1.25x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Financial Services<br> – Security Investors, LLC |  |
|  Rydex VIF Government Long Bond 1.2x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Health Care<br> – Security Investors, LLC |  |
|  Rydex VIF High Yield Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Internet<br> – Security Investors, LLC |  |
|  Rydex VIF Inverse Dow 2x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Inverse Government Long Bond Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Inverse Mid-Cap Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Inverse NASDAQ-100<sup>®</sup> Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Inverse Russell 2000<sup>®</sup> Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Inverse S&P 500 Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Japan 2x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Leisure<br> – Security Investors, LLC |  |
|  Rydex VIF Mid-Cap 1.5x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Money Market<br> – Security Investors, LLC |  |
|  Rydex VIF NASDAQ-100<sup>®</sup><br> – Security Investors, LLC |  |
|  Rydex VIF NASDAQ-100<sup>®</sup> 2x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Nova<br> – Security Investors, LLC |  |
|  Rydex VIF Precious Metals<br> – Security Investors, LLC |  |
|  Rydex VIF Real Estate<br> – Security Investors, LLC |  |
|  Rydex VIF Retailing<br> – Security Investors, LLC |  |
|  Rydex VIF Russell 2000<sup>®</sup> 1.5x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF Russell 2000<sup>®</sup> 2x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF S&P 500 2x Strategy<br> – Security Investors, LLC |  |
|  Rydex VIF S&P 500 Pure Growth<br> – Security Investors, LLC |  |
|  Rydex VIF S&P 500 Pure Value<br> – Security Investors, LLC |  |
|  Rydex VIF S&P MidCap 400 Pure Growth<br> – Security Investors, LLC |  |
|  Rydex VIF S&P MidCap 400 Pure Value<br> – Security Investors, LLC |  |
|  Rydex VIF S&P SmallCap 600 Pure Growth<br> – Security Investors, LLC |  |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  Rydex VIF S&P SmallCap 600 Pure Value |  | Security Investors, LLC | —  |
|  Rydex VIF Strengthening Dollar 2x Strategy |  | Security Investors, LLC | —  |
|  Rydex VIF Technology |  | Security Investors, LLC | —  |
|  Rydex VIF Telecommunications |  | Security Investors, LLC | —  |
|  Rydex VIF Transportation |  | Security Investors, LLC | —  |
|  Rydex VIF Utilities |  | Security Investors, LLC | —  |
|  Rydex VIF Weakening Dollar 2x Strategy |  | Security Investors, LLC | —  |
| T. Rowe Price Blue Chip Growth | II | T. Rowe Price Associates, Inc | —  |
| T. Rowe Price Equity Income | II | T. Rowe Price Associates, Inc | —  |
| T. Rowe Price Health Sciences | II | T. Rowe Price Associates, Inc | —  |
| T. Rowe Price Limited-Term Bond | II | T. Rowe Price Associates, Inc | —  |
|  Templeton Developing Markets VIP Fund | Class 2 | Templeton Asset Management Ltd | Franklin Templeton Inv Mgmt Ltd |
|  Templeton Foreign VIP Fund | Class 2 | Templeton Investment Counsel LLC | —  |
|  Templeton Global Bond VIP Fund | Class 2 | Franklin Advisers, Inc | —  |
|  Templeton Growth VIP Fund | Class 2 | Templeton Global Advisors Ltd | —  |
|  Third Avenue Value |  | Third Avenue Management LLC | —  |
|  TOPS<sup>®</sup> Aggressive Growth ETF | Investor | ValMark Advisers, Inc | Milliman Financial Risk Management LLC |
|  TOPS<sup>®</sup> Balanced ETF | Investor | ValMark Advisers, Inc | Milliman Financial Risk Management LLC |
|  TOPS<sup>®</sup> Conservative ETF | Investor | ValMark Advisers, Inc | Milliman Financial Risk Management LLC |
|  TOPS<sup>®</sup> Growth ETF | Investor | ValMark Advisers, Inc | Milliman Financial Risk Management LLC |
|  TOPS<sup>®</sup> Managed Risk Balanced ETF | Investor | ValMark Advisers, Inc | Milliman Financial Risk Management LLC |
|  TOPS<sup>®</sup> Managed Risk Growth ETF | Investor | ValMark Advisers, Inc | Milliman Financial Risk Management LLC |
|  TOPS<sup>®</sup> Managed Risk Moderate Growth ETF | Investor | ValMark Advisers, Inc | Milliman Financial Risk Management LLC |
|  TOPS<sup>®</sup> Moderate Growth ETF | Investor | ValMark Advisers, Inc | Milliman Financial Risk Management LLC |
|  VanEck VIP Global Gold | S | Van Eck Associates Corporation | —  |
|  VanEck VIP Global Resources | S | Van Eck Associates Corporation | —  |
|  Vanguard<sup>®</sup> VIF Balanced |  | Wellington Management Company LLP | —  |
|  Vanguard<sup>®</sup> VIF Capital Growth |  | PRIMECAP Management Company | —  |
|  Vanguard<sup>®</sup> VIF Conservative Allocation |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Diversified Value |  | Lazard Asset Management LLC;Hotchkis & Wiley Capital Management LLC | —  |
|  Vanguard<sup>®</sup> VIF Equity Income |  | Vanguard Group Inc<br> Wellington Management Company LLP | —  |
|  Vanguard<sup>®</sup> VIF Equity Index |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Global Bond Index |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Growth |  | Wellington Management Company LLP | —  |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Subaccount/Mutual Fund** | **Class** | **Investment Adviser** | **Sub-Adviser** |
|  Vanguard<sup>®</sup> VIF High Yield Bond |  | Wellington Management Company LLP | —  |
|  Vanguard<sup>®</sup> VIF International |  | Baillie Gifford Overseas Ltd;Schroder Investment Management North America Inc | —  |
|  Vanguard<sup>®</sup> VIF Mid-Cap Index |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Moderate Allocation |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Real Estate Index |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Short Term Investment Grade |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Small Company Growth |  | ArrowMark Colorado Holdings, LLC (ArrowMark Partners);Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Total Bond Market Index |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Total International Stock Market Index |  | Vanguard Group Inc | —  |
|  Vanguard<sup>®</sup> VIF Total Stock Market Index |  | Vanguard Group Inc | —  |
|  Victory Pioneer Bond VCT Portfolio | Class II | Amundi Asset Management US, Inc | —  |
|  Victory Pioneer Equity Income VCT Portfolio | Class II | Amundi Asset Management US, Inc | —  |
|  Victory Pioneer High Yield VCT Portfolio | Class II | Amundi Asset Management US, Inc | —  |
|  Victory Pioneer Strategic Income VCT Portfolio | Class II | Amundi Asset Management US, Inc | —  |
|  Virtus Duff & Phelps Real Estate Securities Series | A | Virtus Investment Advisers, Inc | Duff & PheLPs Investment Management Co |
|  Virtus KAR Small-Cap Growth Series | A | Virtus Investment Advisers, Inc | Kayne Anderson Rudnick Inv Mgmt., LLC |
|  Virtus Newfleet Multi-Sector Intermediate Bond Series | A | Virtus Investment Advisers, Inc | Newfleet Asset Management, LLC |
|  Virtus SGA International Growth Series | A | Virtus Investment Advisers, Inc | Sustainable Growth Advisers, LP |
|  Virtus Tactical Allocation Series | A Shares | Virtus Investment Advisors (VIA) | Newfleet Asset Management, LLC<br> Kayne Anderson Rudnick Investment Management LLC |
|  Voya MidCap Opportunities Portfolio | S2 | Voya Investments, LLC | Voya Investment Management Co. LLC |
|  VY CBRE Global Real Estate Portfolio | S2 | Voya Investments, LLC | CBRE Clarion Securities LLC |
|  VY CBRE Real Estate Portfolio | S2 | Voya Investments, LLC | CBRE Clarion Securities LLC |
|  Western Asset Variable Global High Yield Bond | II | Legg Mason Partners Fund Advisor, LLC | Western Asset Management Company Pte Ltd – Singapore Inc<br> Western Asset Management Company, LLC Inc<br> Western Asset Management Company Ltd – UK |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

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

The Account has one underlying fund, BlackRock High Yield V.I., that pays dividends on the first of each month. The daily dividend amount is accumulated and the balance is recognised on the Statements of Net Assets as Investment Income Receivable.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

Two Hundred Eighty-seven subaccounts are currently offered by the Account. The following subaccounts had no activity for two consecutive years and are not included in the Statements of Net Assets or the Statements of Operations and Change in Net Assets:

---

| |
|:---|
| **Subaccount** |
| AB VPS Dynamic Asset Allocation |
| AB VPS Sustainable Global Thematic Growth |
| BlackRock Capital Appreciation V.I. |
| BNY Mellon Stock Index |
| Dimensional VA Equity Allocation |
| Dimensional VA Global Bond Portfolio |
| Donoghue Forlines Momentum VIT Fund |
| Goldman Sachs VIT Large Cap Value |
| Goldman Sachs VIT Small Cap Equity Insights |
| Goldman Sachs VIT Strategic Growth |
| Invesco V.I. American Franchise Series II |
| Invesco V.I. Global Core Equity |
| Invesco V.I. Growth and Income |
| Invesco V.I. High Yield |
| Janus Henderson VIT Mid Cap Value |
| Lord Abbett Series Dividend Growth VC |
| Lord Abbett Series Fundamental Equity VC |
| Lord Abbett Series Mid Cap Stock VC |
| Lord Abbett Series Total Return VC |
| MFS<sup>®</sup> VIT Emerging Markets Equity |
| MFS<sup>®</sup> VIT High Yield |
| MFS<sup>®</sup> VIT II MA Investors Growth Stock |
| MFS<sup>®</sup> VIT Investors Trust |
| Morgan Stanley VIF Emerging Markets Debt |
| Morgan Stanley VIF Emerging Markets Equity |
| NAA Large Core Series |
| NAA Small Growth Series |
| Nomura VIP Core Equity Series |
| Nomura VIP Value Series |
| PIMCO VIT Global Managed Asset Allocation |
| Putnam VT Diversified Income |
| Putnam VT Global Asset Allocation |
| Putnam VT High Yield |
| Putnam VT Income |
| Rydex VIF High Yield Strategy |
| Rydex VIF Inverse Dow 2x Strategy |
| Rydex VIF Telecommunications |
| Templeton Growth VIP Fund |
| Third Avenue Value |
| TOPS<sup>®</sup> Aggressive Growth ETF |
| TOPS<sup>®</sup> Balanced ETF |
| TOPS<sup>®</sup> Conservative ETF |
| TOPS<sup>®</sup> Growth ETF |
| TOPS<sup>®</sup> Managed Risk Balanced ETF |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| |
|:---|
| **Subaccount** |
| TOPS<sup>®</sup> Managed Risk Growth ETF |
| TOPS<sup>®</sup> Managed Risk Moderate Growth ETF |
| TOPS<sup>®</sup> Moderate Growth ETF |
| Victory Pioneer High Yield VCT Portfolio |
| Virtus Tactical Allocation Series |
| Western Asset Variable Global High Yield Bond |

---

All subaccounts reported a full twelve month period except in the incepted year for the following:

---

| | |
|:---|:---|
| **Inception Date** | **Subaccount** |
| December 17, 2021 | Donoghue Forlines Dividend VIT Fund |
| December 17, 2021 | Donoghue Forlines Momentum VIT Fund |

---

During the current year the following subaccount name changes were made effective:

---

| | | |
|:---|:---|:---|
| **Date** | **New Name** | **Old Name** |
|  April 1, 2025 | Victory Pioneer Bond VCT Portfolio | Pioneer Bond VCT |
|  April 1, 2025 | Victory Pioneer Equity Income VCT Portfolio | Pioneer Equity Income VCT |
|  April 1, 2025 | Victory Pioneer High Yield VCT Portfolio | Pioneer High Yield VCT |
|  April 1, 2025 | Victory Pioneer Strategic Income VCT Portfolio | Pioneer Strategic Income VCT |
|  July 28, 2025 | Neuberger Berman AMT Quality Equity Portfolio | Neuberger Berman AMT Sustainable Equity |
|  August 22, 2025 | Invesco V.I. International Growth Fund | Invesco Oppenheimer V.I. International Growth Fund |
|  December 1, 2025 | Nomura VIP Asset Strategy Series | Macquarie VIP Asset Strategy |
|  December 1, 2025 | Nomura VIP Balanced Series | Macquarie VIP Balanced |
|  December 1, 2025 | Nomura VIP Core Equity Series | Macquarie VIP Core Equity |
|  December 1, 2025 | Nomura VIP Energy Series | Macquarie VIP Energy |
|  December 1, 2025 | Nomura VIP Global Growth Series | Macquarie VIP Global Growth |
|  December 1, 2025 | Nomura VIP Growth Series | Macquarie VIP Growth |
|  December 1, 2025 | Nomura VIP High Income Series | Macquarie VIP High Income |
|  December 1, 2025 | Nomura VIP International Core Equity Series | Macquarie VIP International Core Equity |
|  December 1, 2025 | Nomura VIP Limited+Term Bond Series | Macquarie VIP Limited-Term Bond |
|  December 1, 2025 | Nomura VIP Mid Cap Growth Series | Macquarie VIP Mid Cap Growth |
|  December 1, 2025 | Nomura VIP Natural Resources Series | Macquarie VIP Natural Resources |
|  December 1, 2025 | Nomura VIP Science And Technology Series | Macquarie VIP Science And Technology |
|  December 1, 2025 | Nomura VIP Small Cap Growth Series | Macquarie VIP Small Cap Growth |
|  December 1, 2025 | Nomura VIP Smid Cap Core Series | Macquarie VIP Smid Cap Core |
|  December 1, 2025 | Nomura VIP Value Series | Macquarie VIP Value |

---

The following subaccounts are closed to new investments:

---

| |
|:---|
| **Subaccount** |
| Alger Capital Appreciation |
| LVIP American Century Mid Cap Value |
| Rydex VIF Dow 2x Strategy |
| Rydex VIF Europe 1.25x Strategy |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| |
|:---|
| **Subaccount** |
| Rydex VIF Government Long Bond 1.2x Strategy |
| Rydex VIF Inverse Russell 2000<sup>®</sup> Strategy |
| Rydex VIF Inverse S&P 500 Strategy |
| Rydex VIF Japan 2x Strategy |
| Rydex VIF Mid-Cap 1.5x Strategy |
| Rydex VIF NASDAQ-100<sup>®</sup> 2x Strategy |
| Rydex VIF Nova |
| Rydex VIF Russell 2000<sup>®</sup> 1.5x Strategy |
| Rydex VIF Russell 2000<sup>®</sup> 2x Strategy |
| Rydex VIF S&P 500 2x Strategy |
| Rydex VIF Strengthening Dollar 2x Strategy |
| Rydex VIF Weakening Dollar 2x Strategy |
| Vanguard<sup>®</sup> VIF Small Company Growth |

---

**Investment Valuation** 

Investments in mutual fund shares are carried in the Statements of Net Assets at market value (net asset value of the underlying mutual fund). Investment transactions are accounted for on the trade date. Realized capital gains and losses on sales of investments are determined based on the average cost of investments sold. The difference between cost and current market value of investments owned on the day of measurement is recorded as unrealized appreciation or depreciation of investments.

The cost of investment purchases and proceeds from investments sold for the year ended December 31, 2025 were as follows:

---

| | | |
|:---|:---|:---|
| **Subaccount** | **Cost of Purchases** | **Proceeds from Sales** |
|  AB VPS Relative Value Portfolio | $3714 | $585 |
|  AFIS Capital World Growth and Income | 9021 | 75864 |
|  AFIS U.S. Government Securities | 36085 | 13209 |
|  AFIS Washington Mutual Investors | 202041 | 54791 |
|  Alger Capital Appreciation (b) | 97507 | 467210 |
|  Alger Large Cap Growth | 48073 | 1751 |
|  Allspring Opportunity VT | 14224 | 15046 |
|  Allspring VT Discovery All Cap Growth Fund | 40543 | 1678 |
|  ALPS/Alerian Energy Infrastructure | 13773 | 78627 |
|  American Funds IS<sup>®</sup> Asset Allocation | 56977 | 9242 |
|  American Funds IS<sup>®</sup> Capital World Bond | 2790 | 353 |
|  American Funds IS<sup>®</sup> Global Growth | 74633 | 72101 |
|  American Funds IS<sup>®</sup> Global Small Capitalization | 11244 | 290 |
|  American Funds IS<sup>®</sup> Growth | 1381234 | 313517 |
|  American Funds IS<sup>®</sup> Growth-Income | 115000 | 95490 |
|  American Funds IS<sup>®</sup> International | 595 | 47270 |
|  American Funds IS<sup>®</sup> International Growth and Income | 7881 | 5639 |
|  American Funds IS<sup>®</sup> Mortgage | 206014 | 205117 |
|  American Funds IS<sup>®</sup> New World | 14412 | 5157 |
|  BlackRock Advantage Large Cap Core V.I. | 4422 | 535 |
|  BlackRock Basic Value V.I. | 3268 | 830 |
|  BlackRock Equity Dividend V.I. | 67487 | 4791 |
|  BlackRock Global Allocation V.I. | 16230 | 1378 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | |
|:---|:---|:---|
| **Subaccount** | **Cost of Purchases** | **Proceeds from Sales** |
|  BlackRock High Yield V.I. | $44394 | $50233 |
|  BlackRock Large Cap Focus Growth V.I. | 14445 | 128566 |
|  BNY Mellon IP Small Cap Stock Index | 10659 | 24229 |
|  BNY Mellon IP Technology Growth | 138688 | 16278 |
|  BNY Mellon VIF Appreciation | 100654 | 76827 |
|  Dimensional VA Global Moderate Allocation |  | 46334 |
|  Dimensional VA International Small Portfolio | 230494 | 251878 |
|  Dimensional VA International Value Portfolio | 183974 | 90333 |
|  Dimensional VA Short-Term Fixed Portfolio | 96796 | 121673 |
|  Dimensional VA U.S. Large Value Portfolio | 25908 | 75598 |
|  Dimensional VA U.S. Targeted Value Portfolio | 383238 | 11773 |
|  Donoghue Forlines Dividend VIT Fund | 239 | 141 |
|  DWS Small Mid Cap Value VIP | 55786 | 479491 |
|  Eaton Vance VT Floating-Rate Income | 35525 | 3346 |
|  Federated Hermes Fund for U.S. Government Securities II | 7605 | 8920 |
|  Federated Hermes High Income Bond II | 20308 | 19154 |
|  Fidelity<sup>®</sup> VIP Balanced | 73198 | 96858 |
|  Fidelity<sup>®</sup> VIP Contrafund | 341496 | 562787 |
|  Fidelity<sup>®</sup> VIP Disciplined Small Cap | 41793 | 3682 |
|  Fidelity<sup>®</sup> VIP Emerging Markets | 541228 | 49290 |
|  Fidelity<sup>®</sup> VIP Growth & Income | 100886 | 32532 |
|  Fidelity<sup>®</sup> VIP Growth Opportunities | 117506 | 1477650 |
|  Fidelity<sup>®</sup> VIP High Income | 2537 | 468 |
|  Fidelity<sup>®</sup> VIP Index 500 | 431390 | 115763 |
|  Fidelity<sup>®</sup> VIP Investment Grade Bond | 35523 | 88233 |
|  Fidelity<sup>®</sup> VIP Mid Cap | 9171 | 3738 |
|  Fidelity<sup>®</sup> VIP Overseas | 30698 | 21277 |
|  Fidelity<sup>®</sup> VIP Real Estate | 1232 | 512 |
|  Fidelity<sup>®</sup> VIP Strategic Income | 7265 | 3660 |
|  Franklin DynaTech VIP | 33499 | 2312 |
|  Franklin Growth and Income VIP Fund | 45581 | 3231 |
|  Franklin Income VIP Fund | 17113 | 4546 |
|  Franklin Large Cap Growth VIP Fund | 88574 | 113900 |
|  Franklin Mutual Global Discovery VIP Fund | 19377 | 1019 |
|  Franklin Mutual Shares VIP Fund | 8791 | 254 |
|  Franklin Rising Dividends VIP Fund | 81727 | 6252 |
|  Franklin Small Cap Value VIP Fund | 51161 | 420067 |
|  Franklin Small-Mid Cap Growth VIP Fund | 71942 | 111386 |
|  Franklin Strategic Income VIP Fund | 1666 | 35417 |
|  Franklin U.S. Government Securities VIP Fund | 11420 | 359650 |
|  Goldman Sachs VIT International Equity Insights | 206218 | 228257 |
|  Goldman Sachs VIT Mid Cap Growth Fund | 582998 | 34680 |
|  Goldman Sachs VIT Mid Cap Value | 25865 | 19467 |
|  Guggenheim VIF Floating Rate Strategies | 14036 | 2861 |
|  Guggenheim VIF Global Managed Futures Strategy | 1311 | 4645 |
|  Guggenheim VIF High Yield | 10038 | 329 |
|  Guggenheim VIF Multi-Hedge Strategies | 6551 | 9265 |
|  Guggenheim VIF Total Return Bond | 225517 | 30851 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | |
|:---|:---|:---|
| **Subaccount** | **Cost of Purchases** | **Proceeds from Sales** |
|  Invesco V.I. American Franchise Series I | $31399 | $21456 |
|  Invesco V.I. American Value | 2793 | 248 |
|  Invesco V.I. Balanced-Risk Allocation | 1185 | 77 |
|  Invesco V.I. Comstock | 4616 | 32 |
|  Invesco V.I. Core Equity | 7279 | 222 |
|  Invesco V.I. Discovery Mid Cap Growth | 495 | 72 |
|  Invesco V.I. Equally-Weighted S&P 500 | 316904 | 1006 |
|  Invesco V.I. Equity and Income | 1850 | 364 |
|  Invesco V.I. EVQ International Equity Fund | 23884 | 31636 |
|  Invesco V.I. Global | 21617 | 50675 |
|  Invesco V.I. Global Real Estate | 325 | 2066 |
|  Invesco V.I. Global Strategic Income | 5786 | 1641 |
|  Invesco V.I. Government Securities | 12165 | 12502 |
|  Invesco V.I. Health Care | 80549 | 74087 |
|  Invesco V.I. International Growth Fund (a) | 10968 | 13727 |
|  Invesco V.I. Main Street Mid Cap Fund<sup>®</sup> | 19365 | 4908 |
|  Invesco V.I. Main Street Small Cap Fund<sup>®</sup> | 45086 | 18107 |
|  Invesco V.I. Small Cap Equity | 2139 | 577 |
|  Janus Henderson VIT Enterprise | 64408 | 51716 |
|  Janus Henderson VIT Forty | 297446 | 100280 |
|  Janus Henderson VIT Overseas | 19965 | 5096 |
|  Janus Henderson VIT Research | 10239 | 24212 |
|  Lord Abbett Series Bond-Debenture VC | 20691 | 26476 |
|  Lord Abbett Series Developing Growth VC | 186 | 4961 |
|  Lord Abbett Series Growth and Income VC | 13715 | 2013 |
|  Lord Abbett Series Growth Opportunities VC | 24580 | 1495 |
|  LVIP American Century Disciplined Core Value | 1221 | 4449 |
|  LVIP American Century Inflation Protection | 3444 | 1272 |
|  LVIP American Century International | 366 | 446 |
|  LVIP American Century Mid Cap Value (b) | 541162 | 4520 |
|  LVIP American Century Value | 6434 | 625 |
|  LVIP JPMorgan Core Bond Fund | 631 | 12076 |
|  LVIP JPMorgan Small Cap Core Fund | 4858 | 3855 |
|  LVIP JPMorgan US Equity Fund | 671 | 300 |
|  MFS<sup>®</sup> VIT II Research International | 797 | 895 |
|  MFS<sup>®</sup> VIT International Intrinsic Value | 11814 | 8926 |
|  MFS<sup>®</sup> VIT New Discovery | 3336 | 322112 |
|  MFS<sup>®</sup> VIT Research | 13315 | 4444 |
|  MFS<sup>®</sup> VIT Total Return | 3330 | 6214 |
|  MFS<sup>®</sup> VIT Total Return Bond | 30061 | 30061 |
|  MFS<sup>®</sup> VIT Utilities | 1425 | 436 |
|  Morningstar Aggressive Growth ETF Asset Allocation Portfolio |  | 29374 |
|  Morningstar Balanced ETF Asset Allocation Portfolio | 286562 | 523657 |
|  Morningstar Conservative ETF Asset Allocation Portfolio | 269002 | 318552 |
|  Morningstar Growth ETF Asset Allocation Portfolio | 17206 | 103836 |

---

(a) Name change. See Note 1.

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | |
|:---|:---|:---|
| **Subaccount** | **Cost of Purchases** | **Proceeds from Sales** |
|  Morningstar Income and Growth ETF Asset Allocation Portfolio | $4619 | $13782 |
|  NAA All Cap Value Series | 31412 | 2830 |
|  NAA Large Cap Value Series | 115313 | 101813 |
|  NAA Large Growth Series | 18663 | 1206 |
|  NAA Mid Growth Series | 22243 | 18901 |
|  NAA Small Cap Value Series | 6360 | 2421 |
|  NAA Smid-Cap Value Series | 12146 | 1231 |
|  NAA World Equity Income Series | 9067 | 7464 |
|  Neuberger Berman AMT Quality Equity Portfolio (a) | 29906 | 123950 |
|  Nomura VIP Asset Strategy Series (a) | 48880 | 7554 |
|  Nomura VIP Balanced Series (a) | 1814 | 8975 |
|  Nomura VIP Energy Series (a) | 5837 | 6441 |
|  Nomura VIP Global Growth Series (a) | 18714 | 140058 |
|  Nomura VIP Growth Series (a) | 9779 | 33905 |
|  Nomura VIP High Income Series (a) | 1471 | 2492 |
|  Nomura VIP International Core Equity Series (a) | 2330 | 862 |
|  Nomura VIP Mid Cap Growth Series (a) | 164116 | 506773 |
|  Nomura VIP Natural Resources Series (a) |  | 77 |
|  Nomura VIP Science And Technology Series (a) | 54176 | 58535 |
|  Nomura VIP Small Cap Growth Series (a) | 14345 | 1143 |
|  Nomura VIP Smid Cap Core Series (a) | 147 | 48 |
|  PIMCO VIT All Asset | 28199 | 30835 |
|  PIMCO VIT CommodityRealReturn Strategy | 3928 | 3287 |
|  PIMCO VIT Emerging Markets Bond | 28722 | 11294 |
|  PIMCO VIT Global Bond Opportunities Portfolio (Unhedged) | 251 | 25 |
|  PIMCO VIT International Bond Portfolio (Unhedged) | 5532 | 3213 |
|  PIMCO VIT Low Duration Administrative | 56514 | 712735 |
|  PIMCO VIT Low Duration Advisor | 10883 | 15175 |
|  PIMCO VIT Real Return Administrative | 32741 | 52508 |
|  PIMCO VIT Real Return Advisor | 212435 | 210484 |
|  PIMCO VIT Short-Term | 119559 | 81760 |
|  PIMCO VIT Total Return Administrative | 19817 | 79232 |
|  PIMCO VIT Total Return Advisor | 18576 | 12816 |
|  Putnam VT Core Equity Fund | 8542 | 78656 |
|  Putnam VT Large Cap Growth Fund | 61662 | 9216 |
|  Putnam VT Large Cap Value | 69742 | 394445 |
|  Putnam VT Small Cap Growth | 327322 | 1120 |
|  Rydex VIF Banking | 521 | 2800 |
|  Rydex VIF Basic Materials | 32186 | 15757 |
|  Rydex VIF Biotechnology | 9788 | 7005 |
|  Rydex VIF Commodities Strategy | 20719 | 14820 |
|  Rydex VIF Consumer Products | 4726 | 8683 |
|  Rydex VIF Dow 2x Strategy (b) | 888 | 17783 |
|  Rydex VIF Electronics | 82871 | 5604 |
|  Rydex VIF Energy | 9209 | 12020 |

---

(a) Name change. See Note 1.

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | |
|:---|:---|:---|
| **Subaccount** | **Cost of Purchases** | **Proceeds from Sales** |
|  Rydex VIF Energy Services | $10 | $355 |
|  Rydex VIF Europe 1.25x Strategy (b) |  |  |
|  Rydex VIF Financial Services | 832 | 31721 |
|  Rydex VIF Government Long Bond 1.2x Strategy (b) | 220 | 626 |
|  Rydex VIF Health Care | 16236 | 12767 |
|  Rydex VIF Internet | 28454 | 5269 |
|  Rydex VIF Inverse Government Long Bond Strategy | 17178 | 17356 |
|  Rydex VIF Inverse NASDAQ-100<sup>®</sup> Strategy | 622 | 615 |
|  Rydex VIF Inverse Russell 2000<sup>®</sup> Strategy (b) | 11 | 40 |
|  Rydex VIF Inverse S&P 500 Strategy (b) | 247 | 8 |
|  Rydex VIF Japan 2x Strategy (b) | 2540 | 1054 |
|  Rydex VIF Leisure |  | 929 |
|  Rydex VIF Mid-Cap 1.5x Strategy (b) | 568 | 2266 |
|  Rydex VIF Money Market | 585709 | 1020233 |
|  Rydex VIF NASDAQ-100<sup>®</sup> | 98819 | 66286 |
|  Rydex VIF NASDAQ-100<sup>®</sup> 2x Strategy (b) | 6063 | 890 |
|  Rydex VIF Nova (b) | 7197 | 13424 |
|  Rydex VIF Precious Metals | 13176 | 9597 |
|  Rydex VIF Real Estate | 12152 | 29555 |
|  Rydex VIF Retailing | 953 | 584 |
|  Rydex VIF Russell 2000<sup>®</sup> 1.5x Strategy (b) | 1675 | 2524 |
|  Rydex VIF Russell 2000<sup>®</sup> 2x Strategy (b) | 14 | 5 |
|  Rydex VIF S&P 500 2x Strategy (b) | 17597 | 18745 |
|  Rydex VIF S&P 500 Pure Growth | 40973 | 29619 |
|  Rydex VIF S&P 500 Pure Value | 57734 | 67497 |
|  Rydex VIF S&P MidCap 400 Pure Growth | 16328 | 116176 |
|  Rydex VIF S&P MidCap 400 Pure Value | 20505 | 27524 |
|  Rydex VIF S&P SmallCap 600 Pure Growth |  | 351 |
|  Rydex VIF S&P SmallCap 600 Pure Value | 1684 | 10166 |
|  Rydex VIF Strengthening Dollar 2x Strategy (b) | 7575 | 10231 |
|  Rydex VIF Technology | 186978 | 56612 |
|  Rydex VIF Transportation |  | 329 |
|  Rydex VIF Utilities | 3761 | 4925 |
|  Rydex VIF Weakening Dollar 2x Strategy (b) | 1224 | 1237 |
| T. Rowe Price Blue Chip Growth | 108491 | 545247 |
| T. Rowe Price Equity Income | 49892 | 13373 |
| T. Rowe Price Health Sciences | 14744 | 68861 |
| T. Rowe Price Limited-Term Bond | 55412 | 56410 |
|  Templeton Developing Markets VIP Fund | 25419 | 26796 |
|  Templeton Foreign VIP Fund | 32581 | 7615 |
|  Templeton Global Bond VIP Fund |  | 5921 |
|  VanEck VIP Global Gold | 500978 | 2807 |
|  VanEck VIP Global Resources | 14012 | 208 |
|  Vanguard<sup>®</sup> VIF Balanced | 23087 | 4688 |
|  Vanguard<sup>®</sup> VIF Capital Growth | 39845 | 18894 |
|  Vanguard<sup>®</sup> VIF Conservative Allocation | 12322 | 193736 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | | |
|:---|:---|:---|
| **Subaccount** | **Cost of Purchases** | **Proceeds from Sales** |
|  Vanguard<sup>®</sup> VIF Diversified Value | $161387 | $8943 |
|  Vanguard<sup>®</sup> VIF Equity Income | 86149 | 27436 |
|  Vanguard<sup>®</sup> VIF Equity Index | 136043 | 110635 |
|  Vanguard<sup>®</sup> VIF Global Bond Index | 288 | 167 |
|  Vanguard<sup>®</sup> VIF Growth | 135975 | 11394 |
|  Vanguard<sup>®</sup> VIF High Yield Bond | 10071 | 45380 |
|  Vanguard<sup>®</sup> VIF International | 65847 | 16227 |
|  Vanguard<sup>®</sup> VIF Mid-Cap Index | 106523 | 37994 |
|  Vanguard<sup>®</sup> VIF Moderate Allocation | 125386 | 54082 |
|  Vanguard<sup>®</sup> VIF Real Estate Index | 4881 | 12615 |
|  Vanguard<sup>®</sup> VIF Short Term Investment Grade | 148868 | 181640 |
|  Vanguard<sup>®</sup> VIF Small Company Growth (b) | 5313 | 1441 |
|  Vanguard<sup>®</sup> VIF Total Bond Market Index | 202067 | 181683 |
|  Vanguard<sup>®</sup> VIF Total International Stock Market Index | 12151 | 24594 |
|  Vanguard<sup>®</sup> VIF Total Stock Market Index | 290664 | 75820 |
|  Victory Pioneer Bond VCT Portfolio (a) | 7231 | 5743 |
|  Victory Pioneer Equity Income VCT Portfolio (a) | 2582 | 229 |
|  Victory Pioneer Strategic Income VCT Portfolio (a) | 3557 | 2572 |
|  Virtus Duff & Phelps Real Estate Securities Series | 527 | 245 |
|  Virtus KAR Small-Cap Growth Series | 60126 | 58116 |
|  Virtus SGA International Growth Series | 1879 | 1604 |
|  Voya MidCap Opportunities Portfolio | 10485 | 1227 |
|  VY CBRE Global Real Estate Portfolio | 277 | 190 |
|  VY CBRE Real Estate Portfolio | 634 | 78 |

---

(a) Name change. See Note 1.

(b) Closed to new investments. See Note 1.

**Market Risk** 

Each subaccount invests in shares of a single underlying fund. The investment performance of each subaccount will reflect the investment performance of the underlying fund less separate account expenses. There is no assurance that the investment objective of any underlying fund will be met. A fund calculates a daily net asset value per share ("NAV") which is based on the market value of its investment portfolio. The amount of risk varies significantly between subaccounts. Due to the level of risk associated with certain investment portfolios, it is at least reasonably possible that changes in the values of investment portfolios will occur in the near term and that such changes could materially affect contractholders' investments in the funds and the amounts reported in the Statements of Net Assets. The contractholder assumes all of the investment performance risk for the subaccounts selected.

**Annuity Assets** 

Annuity Assets relate to contracts that have matured and are in the payout stage. Such assets are computed on the basis of published mortality tables using assumed interest rates that will provide assets as prescribed by law. In cases where the payout option selected is life contingent, FSBL periodically recalculates the required annuity assets, and any resulting adjustment is either charged or credited to FSBL and not to the Account.

The annuity assets for December 31, 2025 by subaccount are as follows:

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

---

| | |
|:---|:---|
| **Subaccount** | **Annuity Assets** |
|  Allspring Opportunity VT | $75566 |
|  American Funds IS<sup>®</sup> International | 21823 |
|  American Funds IS<sup>®</sup> International Growth and Income | 44130 |
|  American Funds IS<sup>®</sup> New World | 5639 |
|  BlackRock High Yield V.I. | 1385 |
|  BlackRock Large Cap Focus Growth V.I. | 7051 |
|  Federated Hermes Fund for U.S. Government Securities II | 8880 |
|  Federated Hermes High Income Bond II | 19691 |
|  Fidelity<sup>®</sup> VIP Contrafund | 41459 |
|  Fidelity<sup>®</sup> VIP Growth Opportunities | 153801 |
|  Fidelity<sup>®</sup> VIP Index 500 | 6634 |
|  Fidelity<sup>®</sup> VIP Investment Grade Bond | 2753 |
|  Fidelity<sup>®</sup> VIP Mid Cap | 7642 |
|  Franklin Small Cap Value VIP Fund | 12413 |
|  Franklin Small-Mid Cap Growth VIP Fund | 38260 |
|  Goldman Sachs VIT International Equity Insights | 18866 |
|  Guggenheim VIF Total Return Bond | 37475 |
|  Invesco V.I. American Franchise Series I | 18364 |
|  Invesco V.I. EVQ International Equity Fund | 16629 |
|  Invesco V.I. Main Street Small Cap Fund<sup>®</sup> | 48041 |
|  Janus Henderson VIT Mid Cap Value | 12620 |
|  Lord Abbett Series Bond-Debenture VC | 4618 |
|  LVIP JPMorgan Core Bond Fund | 47141 |
|  LVIP JPMorgan Small Cap Core Fund | 6187 |
|  MFS<sup>®</sup> VIT Investors Trust | 31250 |
|  NAA All Cap Value Series | 5025 |
|  NAA World Equity Income Series | 18807 |
|  Neuberger Berman AMT Quality Equity Portfolio | 44822 |
|  Nomura VIP Mid Cap Growth Series | 8301 |
|  PIMCO VIT Emerging Markets Bond | 3735 |
|  PIMCO VIT Low Duration Administrative | 23214 |
|  PIMCO VIT Real Return Administrative | 32184 |
|  PIMCO VIT Total Return Administrative | 25448 |
|  Rydex VIF Basic Materials | 20253 |
|  Rydex VIF Government Long Bond 1.2x Strategy | 5355 |
|  Rydex VIF Money Market | 178320 |
|  Rydex VIF Real Estate | 7902 |
|  Rydex VIF S&P 500 Pure Growth | 7792 |
|  Rydex VIF S&P 500 Pure Value | 10252 |
|  Rydex VIF S&P MidCap 400 Pure Value | 9474 |
|  Rydex VIF S&P SmallCap 600 Pure Value | 9447 |
| T. Rowe Price Equity Income | 22646 |
|  Templeton Developing Markets VIP Fund | 15751 |
|  Templeton Global Bond VIP Fund | 4557 |
|  Vanguard<sup>®</sup> VIF Equity Income | 53134 |
|  Vanguard<sup>®</sup> VIF Equity Index | 35721 |
|  Vanguard<sup>®</sup> VIF Total Bond Market Index | 36680 |
|  Virtus KAR Small-Cap Growth Series | 4525 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

1. Organization and Significant Accounting Policies (continued)

**Reinvestment of Dividends** 

Dividend and capital gain distributions paid by the mutual funds to the Account are reinvested in additional shares of each respective fund. Dividend income and capital gain distributions are recorded as income on the ex-dividend date.

**Federal Income Taxes** 

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

**Use of Estimates** 

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

**Fair Value Measurements** 

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price).

The Account invests in shares of open-end mutual funds, which process contractholders directed purchases, sales and transfers on a daily basis at the funds' computed NAVs. The fair value of the Account's assets is based on the NAVs of mutual funds, which are obtained from the custodians and reflect the fair values of the mutual fund investments. The NAV is calculated daily and is based on the fair values of the underlying securities.

Because the fund provides liquidity for the investments through purchases and redemptions at NAV, this may represent the fair value of the investment in the fund. That is, for an open-ended mutual fund, the fair value of an investment in the fund would not be expected to be higher than the amount that a new investor would be required to spend in order to directly invest in the mutual fund. Similarly, the hypothetical seller of the investment would not be expected to accept less in proceeds than it could receive by directly redeeming its investment with the fund.

The Account had no financial liabilities as of December 31, 2025.

**Segment Disclosures** 

An operating segment is defined in ASC Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker (CODM) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The CODM is Brian Beckett, Chief Financial Officer. The subaccount represents a single operating segment, as the CODM monitors the operating results of the subaccount and as a whole, the subaccount's long-term strategic asset allocation is pre-determined based on a defined investment strategy. The net increase (decrease) in net assets from operations, which is used by the CODM to assess the segment's performance is consistent with that presented within the subaccount's financial statements. Segment assets are reflected on the accompanying Statements of Net Assets as "Net Assets" and significant segment expenses are listed on the accompanying Statements of Operations and Change in Net Assets.

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##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

**2. Variable Annuity Contract Charges** 

**AdvisorDesigns** 

*Mortality and Expense Risk Charge*: The mortality and expense risks assumed by FSBL are compensated for by a fee equivalent to a minimum annual rate of 0.85% of the average daily net assets. The mortality and expense risk charge is based on the daily value of the individual contract.

*Administrative Charge*: FSBL deducts a daily administrative charge equal to an annual rate of each Subaccount's average daily net asset value. The amount of these charges differs by Subaccount and ranges from 0.25% to 0.60%, as indicated in the below table:

---

| | |
|:---|:---|
| **Administrative<br>Charge** | **Subaccount** |
| 0.25% | NAA All Cap Value Series<br> NAA Large Cap Value Series<br> NAA Small Cap Value Series<br> NAA SMid Cap Value Series<br> NAA Mid Growth Series<br> NAA World Equity Income Series |
| 0.35% | Invesco V.I. EVQ International Equity Fund<br> Invesco V.I. Main Street Mid Cap Fund<sup>®</sup> |
| 0.40% | Invesco V.I. Main Street Small Cap Fund<sup>®</sup> |
| 0.45% | Guggenheim VIF Long Short Equity<br> Guggenheim VIF Multi-Hedge Strategies<br> Invesco V.I. Government Securities<br> each Rydex VIF Subaccounts |
| 0.50% | Federated Hermes High Income Bond II<br> Fidelity<sup>®</sup> VIP Contrafund<br> Fidelity<sup>®</sup> VIP Growth Opportunities<br> Fidelity<sup>®</sup> VIP Investment Grade Bond |
| 0.55% | Allspring Opportunity VT<br> Fidelity<sup>®</sup> VIP Index 500<br> PIMCO VIT Low Duration<br> PIMCO VIT Real Return<br> PIMCO VIT Total Return<br> Wells Fargo Opportunity VT |
| 0.60% | Federated Hermes Fund for U.S. Government Securities II<br> Franklin Small-Mid Cap Growth VIP Fund<br> Invesco V.I. American Franchise<br> Neuberger Berman AMT Quality Equity Portfolio<br> Templeton Developing Markets VIP Fund<br> Templeton Foreign VIP Fund |

---

These charges are presented as expenses on the Statements of Operations and Change in Net Assets under Mortality and expense risk and administrative charges line item.

*Premium Tax Charge*: When applicable, an amount for premium taxes is deducted as provided by pertinent state law either from the purchase payments or from the amount applied to effect an annuity at the time annuity payments commence.

Contract owner maintenance charges presented as a decrease in units on the Statements of Operations and Change in Net Assets under the Maintenance charges and mortality adjustments line item may include the following:

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##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

**2. Variable Annuity Contract Charges (continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Mortality and Expense Risk Charge*: If the net asset value of an individual contract is less than
$100,000, FSBL deducts an additional mortality and expense risk charge of 0.25% on contracts with a net asset value less than $25,000 and 0.10% on contracts with a net asset value of at least $25,000 but less than $100,000, as a contract level
deduction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Contingent Deferred Sales Charge (CDSC)*: FSBL deducts a CDSC (also referred to as a "withdrawal
charge") of up to 7% of any portion of a withdrawal, consisting of purchase payments, that exceed the free withdrawal amount for units withdrawn in the first seven years of the contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Account Administrative Charge*: FSBL deducts an account administrative fee of $30 at each contract
anniversary, except for certain contracts based on a minimum account value and the period of time the contract has been in force.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Rider Charge*: FSBL deducts an amount for each rider, equal to a percentage of the contract value, not to
exceed a total charge of 2% of the contract value.

**EliteDesigns** 

*Mortality and Expense Risk Charge*: The EliteDesigns and EliteDesigns II mortality and expense risks assumed by FSBL are compensated for by a fee equivalent to an annual rate ranging from 0.00% to 1.20% of the average daily net assets. EliteDesigns: If the net asset value of an individual contract is less than $500,000, FSBL deducts a mortality and expense risk charge of 0.20%. If the net asset value of an individual contract is greater than $500,000, no mortality and expense risk charge is deducted. EliteDesigns II: Prior to December 2, 2021, FSBL deducted a mortality an expense risk charge of 1.20%. After December 2, 2021, If the net asset value of an individual contract is less than $500,000, FSBL deducts a mortality and expense risk charge of 1.20%. If the net asset value of an individual contract is greater than $500,000, FSBL deducts a mortality and expense risk charge of 1.00. All contracts, once annuitized, will be assessed with a mortality and expense risk charge of 0.30% annually of the average daily net assets.

*Administrative Charge*: FSBL deducts a daily administrative charge equal to an annual rate of each subaccount's average daily net asset value. The amount of these charges differs by product and subaccount and ranges from 0.25% to 0.65%, as indicated in the following table:

---

| | | | |
|:---|:---|:---|:---|
| **Administrative<br>Charge** | **Product** | **Subaccount** | **Subaccount** |
| 0.65% | EliteDesigns II | Dimensional VA Equity Allocation<br> Dimensional VA Global Bond Portfolio<br> Dimensional VA Global Moderate Allocation<br> Dimensional VA International Small Portfolio<br> Dimensional VA International Value Portfolio<br> Dimensional VA Short-Term Fixed Portfolio<br> Dimensional VA U.S. Large Value Portfolio<br> Dimensional VA U.S. Targeted Value Portfolio<br> Vanguard<sup>®</sup> VIF Balanced<br> Vanguard<sup>®</sup> VIF Capital Growth<br> Vanguard<sup>®</sup> VIF Conservative Allocation<br> Vanguard<sup>®</sup> VIF Diversified Value<br> Vanguard<sup>®</sup> VIF Equity Income<br> Vanguard<sup>®</sup> VIF Equity Index | Vanguard<sup>®</sup> VIF Global Bond Index<br> Vanguard<sup>®</sup> VIF Growth<br> Vanguard<sup>®</sup> VIF High Yield Bond<br> Vanguard<sup>®</sup> VIF International<br> Vanguard<sup>®</sup> VIF Mid-Cap Index<br> Vanguard<sup>®</sup> VIF Moderate Allocation<br> Vanguard<sup>®</sup> VIF Real Estate Index<br> Vanguard<sup>®</sup> VIF Short Term Investment Grade<br> Vanguard<sup>®</sup> VIF Small Company Growth<br> Vanguard<sup>®</sup> VIF Total Bond Market Index<br> Vanguard<sup>®</sup> VIF Total International Stock Market Index<br> Vanguard<sup>®</sup> VIF Total Stock Market Index |
| 0.25% | EliteDesigns and EliteDesigns II | All other subaccounts |  |

---

These charges are presented as expenses on the Statements of Operations and Change in Net Assets under Mortality and expense risk and administrative charges line item.

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##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

**2. Variable Annuity Contract Charges (continued)** 

*Premium Tax Charge*: When applicable, an amount for premium taxes is deducted as provided by pertinent state law either from the purchase payments or from the amount applied to affect an annuity at the time annuity payments commence.

Contract owner maintenance charges presented as a decrease in units on the Statements of Operations and Change in Net Assets under the Maintenance charges and mortality adjustments line item may include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Contingent Deferred Sales Charge (CDSC)*: For EliteDesigns with a 5 year contract rider, FSBL deducts a
CDSC (also referred to as a "withdrawal charge") of up to 5% of any portion of a withdrawal, consisting of purchase payments, that exceed the free withdrawal amount for units withdrawn in the first five years of the contract. For
EliteDesigns with a 0 year contract rider and EliteDesigns II contract, FSBL does not deduct any CDSC throughout the life of the contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• *Rider Charge*: FSBL deducts an amount for each optional rider, equal to a percentage of the contract
value, not to exceed a total charge of 0.50% of the contract value.

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##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

**3. Summary of Unit Transactions** 

The changes in units outstanding for the periods December 31, 2025 and 2024 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  AB VPS Discovery Value Portfolio |  |  |  | 1 | (216) | (215) |
|  AB VPS Relative Value Portfolio | 66 | (4) | 62 | 64 | (4) | 60 |
|  AFIS Capital World Growth and Income | 321 | (4724) | (4403) | 358 | (15) | 343 |
|  AFIS U.S. Government Securities | 3766 | (626) | 3140 | 24631 | (8690) | 15941 |
|  AFIS Washington Mutual Investors | 6981 | (2125) | 4856 | 1697 | (1784) | (87) |
|  Alger Capital Appreciation (b) | 752 | (11435) | (10683) | 1068 | (754) | 314 |
|  Alger Large Cap Growth | 2574 | (94) | 2480 | 79 | (1950) | (1871) |
|  Allspring Opportunity VT | 66 | (414) | (348) | 67 | (412) | (345) |
|  Allspring VT Discovery All Cap Growth Fund | 142 | (9) | 133 | 139 | (9) | 130 |
|  ALPS/Alerian Energy Infrastructure | 565 | (6395) | (5830) | 7048 | (6780) | 268 |
|  American Funds IS<sup>®</sup> Asset Allocation | 1266 | (190) | 1076 | 4310 | (17947) | (13637) |
|  American Funds IS<sup>®</sup> Capital World Bond | 433 | (3) | 430 | 429 | (547) | (118) |
|  American Funds IS<sup>®</sup> Global Growth | 1545 | (3405) | (1860) | 900 | (1268) | (368) |
|  American Funds IS<sup>®</sup> Global Small Capitalization | 843 | (13) | 830 | 108 | (7220) | (7112) |
|  American Funds IS<sup>®</sup> Growth | 34452 | (9456) | 24996 | 5997 | (10710) | (4713) |
|  American Funds IS<sup>®</sup> Growth-Income | 1698 | (3905) | (2207) | 2639 | (2538) | 101 |
|  American Funds IS<sup>®</sup> International | 219 | (4935) | (4716) | 4228 | (18) | 4210 |
|  American Funds IS<sup>®</sup> International Growth and Income | 853 | (389) | 464 | 832 | (386) | 446 |
|  American Funds IS<sup>®</sup> Mortgage | 29285 | (29285) |  |  |  |  |
|  American Funds IS<sup>®</sup> New World | 976 | (223) | 753 | 547 | (269) | 278 |
|  BlackRock Advantage Large Cap Core V.I. | 45 | (3) | 42 | 43 | (19) | 24 |
|  BlackRock Basic Value V.I. | 41 | (35) | 6 | 56 | (8074) | (8018) |
|  BlackRock Equity Dividend V.I. | 2049 | (90) | 1959 | 424 | (2958) | (2534) |
|  BlackRock Global Allocation V.I. | 282 |  | 282 | 342 | (3283) | (2941) |
|  BlackRock High Yield V.I. | 2253 | (4099) | (1846) | 2661 | (795) | 1866 |
|  BlackRock Large Cap Focus Growth V.I. | 134 | (3640) | (3506) | 3686 | (205) | 3481 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

3. Summary of Unit Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  BNY Mellon IP Small Cap Stock Index | 173 | (1261) | (1088) | 2596 | (1940) | 656 |
|  BNY Mellon IP Technology Growth | 482 | (381) | 101 | 243 | (376) | (133) |
|  BNY Mellon VIF Appreciation | 4320 | (4304) | 16 | 15 | (1) | 14 |
|  Dimensional VA Global Moderate Allocation | 20 | (3958) | (3938) | 3939 | (1) | 3938 |
|  Dimensional VA International Small Portfolio | 16824 | (17747) | (923) | 1225 | (312) | 913 |
|  Dimensional VA International Value Portfolio | 9107 | (7055) | 2052 | 10822 | (23451) | (12629) |
|  Dimensional VA Short-Term Fixed Portfolio | 12384 | (15789) | (3405) | 4925 | (4568) | 357 |
|  Dimensional VA U.S. Large Value Portfolio | 588 | (4269) | (3681) | 913 | (9599) | (8686) |
|  Dimensional VA U.S. Targeted Value Portfolio | 14241 | (482) | 13759 | 1190 | (15063) | (13873) |
|  Donoghue Forlines Dividend VIT Fund | 47 | (11) | 36 | 36 | (2) | 34 |
|  DWS Small Mid Cap Value VIP | 924 | (30212) | (29288) | 2012 | (266) | 1746 |
|  Eaton Vance VT Floating-Rate Income | 2743 | (267) | 2476 | 1935 | (4619) | (2684) |
|  Federated Hermes Fund for U.S. Government Securities II | 911 | (982) | (71) | 669 | (746) | (77) |
|  Federated Hermes High Income Bond II | 938 | (1248) | (310) | 1077 | (1193) | (116) |
|  Fidelity<sup>®</sup> VIP Balanced | 1996 | (5186) | (3190) | 13209 | (3386) | 9823 |
|  Fidelity<sup>®</sup> VIP Contrafund | 2389 | (18100) | (15711) | 9676 | (5851) | 3825 |
|  Fidelity<sup>®</sup> VIP Disciplined Small Cap | 2154 | (109) | 2045 | 35 | (109) | (74) |
|  Fidelity<sup>®</sup> VIP Emerging Markets | 36843 | (3629) | 33214 | 6700 | (3254) | 3446 |
|  Fidelity<sup>®</sup> VIP Growth & Income | 1598 | (867) | 731 | 675 | (287) | 388 |
|  Fidelity<sup>®</sup> VIP Growth Opportunities | 2934 | (25340) | (22406) | 1978 | (10404) | (8426) |
|  Fidelity<sup>®</sup> VIP High Income | 115 | (8) | 107 | 137 | (1097) | (960) |
|  Fidelity<sup>®</sup> VIP Index 500 | 15868 | (3727) | 12141 | 7987 | (9390) | (1403) |
|  Fidelity<sup>®</sup> VIP Investment Grade Bond | 4202 | (10182) | (5980) | 2052 | (18696) | (16644) |
|  Fidelity<sup>®</sup> VIP Mid Cap | 100 | (180) | (80) | 98 | (58) | 40 |
|  Fidelity<sup>®</sup> VIP Overseas | 1476 | (1348) | 128 | 779 | (806) | (27) |
|  Fidelity<sup>®</sup> VIP Real Estate | 152 | (9) | 143 | 159 | (1434) | (1275) |
|  Fidelity<sup>®</sup> VIP Strategic Income | 662 | (130) | 532 | 674 | (1725) | (1051) |
|  Franklin DynaTech VIP | 1174 | (72) | 1102 | 31 | (871) | (840) |
|  Franklin Growth and Income VIP Fund | 568 | (4) | 564 | 551 | (14) | 537 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

3. Summary of Unit Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  Franklin Income VIP Fund | 723 | (89) | 634 | 739 | (2217) | (1478) |
|  Franklin Large Cap Growth VIP Fund | 510 | (3362) | (2852) | 590 | (2086) | (1496) |
|  Franklin Mutual Global Discovery VIP Fund | 281 | (19) | 262 | 273 | (18) | 255 |
|  Franklin Mutual Shares VIP Fund | 128 | (4) | 124 | 165 | (1650) | (1485) |
|  Franklin Rising Dividends VIP Fund | 902 | (97) | 805 | 961 | (4751) | (3790) |
|  Franklin Small Cap Value VIP Fund | 754 | (21922) | (21168) | 1549 | (1874) | (325) |
|  Franklin Small-Mid Cap Growth VIP Fund | 2491 | (4302) | (1811) | 832 | (5102) | (4270) |
|  Franklin Strategic Income VIP Fund | 99 | (4465) | (4366) | 130 | (9) | 121 |
|  Franklin U.S. Government Securities VIP Fund | 1311 | (48646) | (47335) | 20817 | (2340) | 18477 |
|  Goldman Sachs VIT International Equity Insights | 18060 | (18040) | 20 | 20 | (1) | 19 |
|  Goldman Sachs VIT Mid Cap Growth Fund | 16171 | (1175) | 14996 | 487 | (369) | 118 |
|  Goldman Sachs VIT Mid Cap Value | 397 | (840) | (443) | 1839 | (1894) | (55) |
|  Guggenheim VIF Floating Rate Strategies | 504 | (117) | 387 | 515 | (2779) | (2264) |
|  Guggenheim VIF Global Managed Futures Strategy | 374 | (883) | (509) | 336 | (277) | 59 |
|  Guggenheim VIF High Yield | 889 | (5) | 884 | 56 | (206) | (150) |
|  Guggenheim VIF Multi-Hedge Strategies | 1264 | (1611) | (347) | 381 | (15389) | (15008) |
|  Guggenheim VIF Total Return Bond | 21887 | (2826) | 19061 | 15367 | (4007) | 11360 |
|  Invesco V.I. American Franchise Series I | 1008 | (870) | 138 | 198 | (1009) | (811) |
|  Invesco V.I. American Value | 29 | (2) | 27 | 29 | (2) | 27 |
|  Invesco V.I. Balanced-Risk Allocation | 49 | (3) | 46 | 71 | (1546) | (1475) |
|  Invesco V.I. Comstock | 232 |  | 232 | 232 | (19400) | (19168) |
|  Invesco V.I. Core Equity | 114 |  | 114 | 110 |  | 110 |
|  Invesco V.I. Discovery Mid Cap Growth | 9 | (1) | 8 | 34 | (1100) | (1066) |
|  Invesco V.I. Equally-Weighted S&P 500 | 26066 | (7) | 26059 | 25185 | (25140) | 45 |
|  Invesco V.I. Equity and Income | 53 | (4) | 49 | 108 | (3874) | (3766) |
|  Invesco V.I. EVQ International Equity Fund | 1305 | (2694) | (1389) | 1155 | (2896) | (1741) |
|  Invesco V.I. Global | 190 | (2681) | (2491) | 243 | (33) | 210 |
|  Invesco V.I. Global Real Estate |  | (151) | (151) | 18 | (1366) | (1348) |
|  Invesco V.I. Global Strategic Income | 428 | (49) | 379 | 478 | (2525) | (2047) |
|  Invesco V.I. Government Securities | 1932 | (1947) | (15) | 2489 | (2524) | (35) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

3. Summary of Unit Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  Invesco V.I. Health Care | 5731 | (5608) | 123 | 137 | (13) | 124 |
|  Invesco V.I. International Growth Fund (a) | 311 | (995) | (684) | 302 | (2249) | (1947) |
|  Invesco V.I. Main Street Mid Cap Fund<sup>®</sup> | 722 | (204) | 518 | 163 | (1011) | (848) |
|  Invesco V.I. Main Street Small Cap Fund<sup>®</sup> | 1181 | (660) | 521 | 1236 | (2731) | (1495) |
|  Invesco V.I. Small Cap Equity | 87 | (3) | 84 | 104 | (1332) | (1228) |
|  Janus Henderson VIT Enterprise | 1531 | (2014) | (483) | 406 | (2088) | (1682) |
|  Janus Henderson VIT Forty | 8230 | (2770) | 5460 | 2377 | (116) | 2261 |
|  Janus Henderson VIT Overseas | 2950 | (391) | 2559 | 2585 | (450) | 2135 |
|  Janus Henderson VIT Research | 95 | (592) | (497) | 101 | (7) | 94 |
|  Lord Abbett Series Bond-Debenture VC | 993 | (2178) | (1185) | 1384 | (5731) | (4347) |
|  Lord Abbett Series Developing Growth VC | 115 | (138) | (23) | 114 | (299) | (185) |
|  Lord Abbett Series Growth and Income VC | 201 | (29) | 172 | 196 | (36) | 160 |
|  Lord Abbett Series Growth Opportunities VC | 1100 | (68) | 1032 | 24 | (833) | (809) |
|  LVIP American Century Disciplined Core Value | 57 | (132) | (75) | 136 | (6956) | (6820) |
|  LVIP American Century Inflation Protection | 180 | (152) | 28 | 179 | (151) | 28 |
|  LVIP American Century International | 90 | (3) | 87 | 99 | (2153) | (2054) |
|  LVIP American Century Mid Cap Value (b) | 21299 | (184) | 21115 | 28 | (166) | (138) |
|  LVIP American Century Value | 106 | (7) | 99 | 102 | (7) | 95 |
|  LVIP JPMorgan Core Bond Fund | 41 | (1531) | (1490) | 47 | (236) | (189) |
|  LVIP JPMorgan Small Cap Core Fund | 101 | (185) | (84) | 99 | (61) | 38 |
|  LVIP JPMorgan US Equity Fund | 23 | (2) | 21 | 294 | (1) | 293 |
|  MFS<sup>®</sup> VIT Global Tactical Allocation |  |  |  | 132 | (8364) | (8232) |
|  MFS<sup>®</sup> VIT II Research International | 168 | (11) | 157 | 649 | (1124) | (475) |
|  MFS<sup>®</sup> VIT International Intrinsic Value | 334 | (509) | (175) | 338 | (214) | 124 |
|  MFS<sup>®</sup> VIT New Discovery | 606 | (16171) | (15565) | 1138 | (199) | 939 |
|  MFS<sup>®</sup> VIT Research | 75 | (170) | (95) | 78 | (182) | (104) |
|  MFS<sup>®</sup> VIT Total Return | 79 | (444) | (365) | 87 | (43) | 44 |

---

(a) Name change. See Note 1.

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

3. Summary of Unit Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  MFS<sup>®</sup> VIT Total Return Bond | 3453 | (3453) |  |  |  |  |
|  MFS<sup>®</sup> VIT Utilities | 82 | (6) | 76 | 262 | (703) | (441) |
|  Morningstar Aggressive Growth ETF Asset Allocation Portfolio | 25 | (1881) | (1856) | 55 | (8) | 47 |
|  Morningstar Balanced ETF Asset Allocation Portfolio | 15685 | (41599) | (25914) | 2705 | (4304) | (1599) |
|  Morningstar Conservative ETF Asset Allocation Portfolio | 34163 | (37943) | (3780) | 9446 | (12993) | (3547) |
|  Morningstar Growth ETF Asset Allocation Portfolio | 522 | (7160) | (6638) | 638 | (2283) | (1645) |
|  Morningstar Income and Growth ETF Asset Allocation Portfolio | 151 | (1295) | (1144) | 160 | (90) | 70 |
|  NAA All Cap Value Series | 205 | (38) | 167 | 198 | (40) | 158 |
|  NAA Large Cap Value Series | 2748 | (3398) | (650) | 1534 | (1736) | (202) |
|  NAA Large Growth Series | 63 | (12) | 51 | 143 | (92) | 51 |
|  NAA Mid Growth Series | 489 | (470) | 19 | 414 | (3391) | (2977) |
|  NAA Small Cap Value Series | 34 | (65) | (31) | 130 | (159) | (29) |
|  NAA Smid-Cap Value Series | 44 | (25) | 19 | 43 | (25) | 18 |
|  NAA World Equity Income Series | 54 | (374) | (320) | 61 | (377) | (316) |
|  Neuberger Berman AMT Quality Equity Portfolio (a) | 633 | (5212) | (4579) | 5316 | (729) | 4587 |
|  Nomura VIP Asset Strategy Series (a) | 1546 |  | 1546 | 1550 | (2069) | (519) |
|  Nomura VIP Balanced Series (a) | 72 | (584) | (512) | 85 | (6) | 79 |
|  Nomura VIP Energy Series (a) | 1206 | (1177) | 29 | 46 | (5769) | (5723) |
|  Nomura VIP Global Growth Series (a) | 176 | (7373) | (7197) | 969 | (836) | 133 |
|  Nomura VIP Growth Series (a) | 33 | (731) | (698) | 38 | (16) | 22 |
|  Nomura VIP High Income Series (a) |  | (141) | (141) | 15 | (2824) | (2809) |
|  Nomura VIP International Core Equity Series (a) | 111 | (25) | 86 | 112 | (348) | (236) |
|  Nomura VIP Limited+Term Bond Series (a) |  |  |  |  | (61) | (61) |
|  Nomura VIP Mid Cap Growth Series (a) | 2204 | (21081) | (18877) | 1689 | (302) | 1387 |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

3. Summary of Unit Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  Nomura VIP Natural Resources Series (a) | 22 | (4) | 18 | 20 | (3) | 17 |
|  Nomura VIP Science And Technology Series (a) | 933 | (1644) | (711) | 1593 | (236) | 1357 |
|  Nomura VIP Small Cap Growth Series (a) | 1157 | (26) | 1131 | 549 | (507) | 42 |
|  Nomura VIP Smid Cap Core Series (a) | 6 |  | 6 | 28 | (1412) | (1384) |
|  PIMCO VIT All Asset | 2503 | (2937) | (434) | 147 | (2321) | (2174) |
|  PIMCO VIT CommodityRealReturn Strategy | 857 | (582) | 275 | 16325 | (26841) | (10516) |
|  PIMCO VIT Emerging Markets Bond | 1673 | (859) | 814 | 1794 | (1902) | (108) |
|  PIMCO VIT Global Bond Opportunities Portfolio (Unhedged) | 17 | (1) | 16 | 31 | (2729) | (2698) |
|  PIMCO VIT High Yield |  |  |  | 1 | (133) | (132) |
|  PIMCO VIT International Bond Portfolio (Unhedged) | 829 | (467) | 362 | 708 | (7496) | (6788) |
|  PIMCO VIT Low Duration Administrative | 7366 | (99764) | (92398) | 75619 | (22765) | 52854 |
|  PIMCO VIT Low Duration Advisor | 1220 | (1781) | (561) | 1213 | (695) | 518 |
|  PIMCO VIT Real Return Administrative | 3553 | (5404) | (1851) | 3120 | (1755) | 1365 |
|  PIMCO VIT Real Return Advisor | 27683 | (27417) | 266 | 10867 | (22674) | (11807) |
|  PIMCO VIT Short-Term | 13080 | (9213) | 3867 | 2561 | (10226) | (7665) |
|  PIMCO VIT Total Return Administrative | 1892 | (8678) | (6786) | 4453 | (5687) | (1234) |
|  PIMCO VIT Total Return Advisor | 1786 | (997) | 789 | 1825 | (8066) | (6241) |
|  Putnam VT Core Equity Fund | 26 | (3481) | (3455) | 3456 | (1) | 3455 |
|  Putnam VT Large Cap Growth Fund | 808 | (87) | 721 | 386 | (1040) | (654) |
|  Putnam VT Large Cap Value | 709 | (16454) | (15745) | 9964 | (2987) | 6977 |
|  Putnam VT Small Cap Growth | 13747 | (20) | 13727 | 59 | (8) | 51 |
|  Rydex VIF Banking | 208 | (242) | (34) | 207 | (136) | 71 |
|  Rydex VIF Basic Materials | 1667 | (835) | 832 | 679 | (3260) | (2581) |
|  Rydex VIF Biotechnology | 397 | (278) | 119 | 910 | (313) | 597 |
|  Rydex VIF Commodities Strategy | 11243 | (8101) | 3142 | 2792 | (6765) | (3973) |
|  Rydex VIF Consumer Products | 115 | (678) | (563) | 131 | (245) | (114) |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

3. Summary of Unit Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  Rydex VIF Dow 2x Strategy (b) | 80 | (403) | (323) | 89 | (88) | 1 |
|  Rydex VIF Electronics | 367 | (142) | 225 | 384 | (1939) | (1555) |
|  Rydex VIF Energy | 1515 | (1469) | 46 | 4376 | (2503) | 1873 |
|  Rydex VIF Energy Services | 258 | (94) | 164 | 282 | (3722) | (3440) |
|  Rydex VIF Europe 1.25x Strategy (b) |  |  |  |  |  |  |
|  Rydex VIF Financial Services | 86 | (2997) | (2911) | 171 | (30) | 141 |
|  Rydex VIF Government Long Bond 1.2x Strategy (b) | 5 | (63) | (58) | 355 | (1926) | (1571) |
|  Rydex VIF Health Care | 260 | (623) | (363) | 264 | (238) | 26 |
|  Rydex VIF Internet | 637 | (166) | 471 | 288 | (1559) | (1271) |
|  Rydex VIF Inverse Government Long Bond Strategy | 10987 | (10987) |  | 14 | (1816) | (1802) |
|  Rydex VIF Inverse Mid-Cap Strategy |  |  |  | 242 | (22349) | (22107) |
|  Rydex VIF Inverse NASDAQ-100<sup>®</sup> Strategy | 6126 | (6126) |  | 553 | (52138) | (51585) |
|  Rydex VIF Inverse Russell 2000<sup>®</sup> Strategy (b) | 36 | (84) | (48) | 272 | (21522) | (21250) |
|  Rydex VIF Inverse S&P 500 Strategy (b) | 149 | (10) | 139 | 144 | (10) | 134 |
|  Rydex VIF Japan 2x Strategy (b) | 156 | (25) | 131 | 152 | (25) | 127 |
|  Rydex VIF Leisure | 125 | (12) | 113 | 122 | (12) | 110 |
|  Rydex VIF Mid-Cap 1.5x Strategy (b) | 103 | (42) | 61 | 101 | (26) | 75 |
|  Rydex VIF Money Market | 103575 | (158007) | (54432) | 492282 | (82667) | 409615 |
|  Rydex VIF NASDAQ-100<sup>®</sup> | 1941 | (1487) | 454 | 995 | (2340) | (1345) |
|  Rydex VIF NASDAQ-100<sup>®</sup> 2x Strategy (b) | 42 | (7) | 35 | 3 | (7) | (4) |
|  Rydex VIF Nova (b) | 268 | (441) | (173) | 158 | (188) | (30) |
|  Rydex VIF Precious Metals | 1034 | (485) | 549 | 3245 | (4556) | (1311) |
|  Rydex VIF Real Estate | 965 | (2061) | (1096) | 928 | (586) | 342 |
|  Rydex VIF Retailing | 72 | (8) | 64 | 73 | (1391) | (1318) |
|  Rydex VIF Russell 2000<sup>®</sup> 1.5x Strategy (b) | 79 | (127) | (48) | 86 | (44) | 42 |
|  Rydex VIF Russell 2000<sup>®</sup> 2x Strategy (b) |  |  |  | 1 |  | 1 |
|  Rydex VIF S&P 500 2x Strategy (b) | 592 | (368) | 224 | 469 | (331) | 138 |
|  Rydex VIF S&P 500 Pure Growth | 1137 | (1190) | (53) | 2058 | (2051) | 7 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

3. Summary of Unit Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  Rydex VIF S&P 500 Pure Value | 2296 | (3541) | (1245) | 1596 | (1791) | (195) |
|  Rydex VIF S&P MidCap 400 Pure Growth | 597 | (8383) | (7786) | 1483 | (1364) | 119 |
|  Rydex VIF S&P MidCap 400 Pure Value | 301 | (1152) | (851) | 295 | (345) | (50) |
|  Rydex VIF S&P SmallCap 600 Pure Growth | 27 | (9) | 18 | 189 | (1364) | (1175) |
|  Rydex VIF S&P SmallCap 600 Pure Value | 96 | (607) | (511) | 99 | (544) | (445) |
|  Rydex VIF Strengthening Dollar 2x Strategy (b) | 1544 | (2301) | (757) | 3880 | (6242) | (2362) |
|  Rydex VIF Technology | 2622 | (1446) | 1176 | 9442 | (108153) | (98711) |
|  Rydex VIF Transportation | 33 | (9) | 24 | 42 | (936) | (894) |
|  Rydex VIF Utilities | 374 | (360) | 14 | 238 | (411) | (173) |
|  Rydex VIF Weakening Dollar 2x Strategy (b) | 505 | (505) |  |  |  |  |
| T. Rowe Price Blue Chip Growth | 1807 | (14825) | (13018) | 6947 | (3189) | 3758 |
| T. Rowe Price Equity Income | 1852 | (753) | 1099 | 106 | (6335) | (6229) |
| T. Rowe Price Health Sciences | 465 | (2187) | (1722) | 348 | (507) | (159) |
| T. Rowe Price Limited-Term Bond | 7054 | (7259) | (205) | 651 | (394) | 257 |
|  Templeton Developing Markets VIP Fund | 1594 | (1303) | 291 | 1558 | (1046) | 512 |
|  Templeton Foreign VIP Fund | 2174 | (574) | 1600 | 611 | (1835) | (1224) |
|  Templeton Global Bond VIP Fund | 410 | (895) | (485) | 3062 | (2709) | 353 |
|  VanEck VIP Global Gold | 24569 | (103) | 24466 | 4362 | (74) | 4288 |
|  VanEck VIP Global Resources | 2896 | (8) | 2888 | 3025 | (2990) | 35 |
|  Vanguard<sup>®</sup> VIF Balanced | 407 | (166) | 241 | 456 | (6798) | (6342) |
|  Vanguard<sup>®</sup> VIF Capital Growth | 1463 | (794) | 669 | 1754 | (4) | 1750 |
|  Vanguard<sup>®</sup> VIF Conservative Allocation | 435 | (17498) | (17063) | 600 | (747) | (147) |
|  Vanguard<sup>®</sup> VIF Diversified Value | 5386 | (351) | 5035 | 3286 | (8157) | (4871) |
|  Vanguard<sup>®</sup> VIF Equity Income | 1501 | (896) | 605 | 1480 | (833) | 647 |
|  Vanguard<sup>®</sup> VIF Equity Index | 5371 | (4334) | 1037 | 6012 | (2882) | 3130 |
|  Vanguard<sup>®</sup> VIF Global Bond Index | 34 | (2) | 32 | 33 | (2) | 31 |
|  Vanguard<sup>®</sup> VIF Growth | 4905 | (287) | 4618 | 390 | (1838) | (1448) |
|  Vanguard<sup>®</sup> VIF High Yield Bond | 391 | (4235) | (3844) | 456 | (3331) | (2875) |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

3. Summary of Unit Transactions (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
|  | | | **Net** | | | **Net** |
|  | **Units** | **Units** | **Increase** | **Units** | **Units** | **Increase** |
| **Subaccount** | **Issued** | **Redeemed** | **(Decrease)** | **Issued** | **Redeemed** | **(Decrease)** |
|  Vanguard<sup>®</sup> VIF International | 2265 | (738) | 1527 | 4383 | (9278) | (4895) |
|  Vanguard<sup>®</sup> VIF Mid-Cap Index | 4931 | (1939) | 2992 | 1650 | (2741) | (1091) |
|  Vanguard<sup>®</sup> VIF Moderate Allocation | 4155 | (3333) | 822 | 64950 | (94285) | (29335) |
|  Vanguard<sup>®</sup> VIF Real Estate Index | 276 | (1132) | (856) | 2233 | (934) | 1299 |
|  Vanguard<sup>®</sup> VIF Short Term Investment Grade | 15216 | (20780) | (5564) | 32426 | (6437) | 25989 |
|  Vanguard<sup>®</sup> VIF Small Company Growth (b) | 150 | (27) | 123 | 265 | (148) | 117 |
|  Vanguard<sup>®</sup> VIF Total Bond Market Index | 23052 | (21529) | 1523 | 27945 | (43537) | (15592) |
|  Vanguard<sup>®</sup> VIF Total International Stock Market Index | 656 | (1850) | (1194) | 4499 | (328) | 4171 |
|  Vanguard<sup>®</sup> VIF Total Stock Market Index | 9240 | (2770) | 6470 | 18005 | (17895) | 110 |
|  Victory Pioneer Bond VCT Portfolio (a) | 647 | (455) | 192 | 637 | (276) | 361 |
|  Victory Pioneer Equity Income VCT Portfolio (a) | 30 | (2) | 28 | 28 | (2) | 26 |
|  Victory Pioneer Strategic Income VCT Portfolio (a) | 292 | (186) | 106 | 304 | (1245) | (941) |
|  Virtus Duff & Phelps Real Estate Securities Series | 39 | (3) | 36 | 37 | (5) | 32 |
|  Virtus KAR Small-Cap Growth Series | 729 | (2395) | (1666) | 631 | (2690) | (2059) |
|  Virtus Newfleet Multi-Sector Intermediate Bond Series |  |  |  | 17 | (1093) | (1076) |
|  Virtus SGA International Growth Series | 228 | (208) | 20 | 194 | (192) | 2 |
|  Voya MidCap Opportunities Portfolio | 108 | (19) | 89 | 106 | (19) | 87 |
|  VY CBRE Global Real Estate Portfolio | 34 | (14) | 20 | 232 | (1758) | (1526) |
|  VY CBRE Real Estate Portfolio | 55 | (1) | 54 | 54 | (3) | 51 |

---

(a) Name change. See Note 1.

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

**4. Financial Highlights** 

The Account has a number of products, which have unique combinations of features and fees that are charged against the contract owner's account balance. Differences in the fee structures result in a variety of unit values, expense ratios, and total returns. The information presented below identifies the range of lowest to highest expense ratios and the corresponding total return. The summary may not reflect the minimum and maximum contract charges offered by the Account as contract owners may not have selected all available and applicable contract options as discussed in Note 2.

A summary of units outstanding, unit values, net assets, expense ratios, investment income ratios and total return ratios for each of the five years in the period ended December 31, 2025 were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  AB VPS Discovery Value Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 |  | 14.61 | 18.67 |  |  | 0.25 | 1.25 | (1.62) | (0.64) |
| 2024 |  | 18.79 | 18.79 |  |  | 0.25 | 0.25 | 6.22 | 6.22 |
| 2023 | 215 | 17.69 | 17.69 | 3784 | 0.01 | 0.25 | 0.25 | 13.11 | 13.11 |
| 2022 | 212 | 15.64 | 15.64 | 3296 | 0.01 | 0.25 | 0.25 | (18.50) | (18.50) |
| 2021 | 209 | 19.19 | 19.19 | 3987 | 0.01 | 0.25 | 0.25 | 31.26 | 31.26 |
|  AB VPS Relative Value Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 2237 | 18.91 | 18.91 | 42291 | 0.88 | 1.25 | 1.25 | 5.58 | 5.58 |
| 2024 | 2175 | 17.91 | 17.91 | 38939 | 0.01 | 1.25 | 1.25 | 8.09 | 8.09 |
| 2023 | 2115 | 16.57 | 16.57 | 35040 | 0.01 | 1.25 | 1.45 | 7.04 | 7.04 |
| 2022 | 2057 | 15.48 | 15.48 | 31823 | 0.01 | 1.45 | 1.45 | (8.35) | (8.35) |
| 2021 | 2000 | 16.89 | 16.89 | 33781 | 0.01 | 1.45 | 1.45 | 22.30 | 22.30 |
|  AFIS Capital World Growth and Income |  |  |  |  |  |  |  |  |  |
| 2025 | 7710 | 16.80 | 18.94 | 143354 | 1.09 | 0.25 | 1.25 | 19.32 | 20.48 |
| 2024 | 12113 | 14.08 | 15.72 | 180887 | 0.02 | 0.25 | 1.25 | 8.89 | 10.01 |
| 2023 | 11770 | 12.93 | 14.29 | 160448 | 0.02 | 0.25 | 1.45 | 15.65 | 16.84 |
| 2022 | 14570 | 11.18 | 12.23 | 172026 | 0.02 | 0.25 | 1.45 | (20.99) | (20.22) |
| 2021 | 14229 | 14.15 | 15.33 | 211273 | 0.01 | 0.25 | 1.45 | 9.52 | 10.85 |
|  AFIS U.S. Government Securities |  |  |  |  |  |  |  |  |  |
| 2025 | 118187 | 7.14 | 8.05 | 861047 | 4.16 | 0.25 | 1.25 | 3.03 | 4.01 |
| 2024 | 115047 | 6.93 | 7.74 | 812155 | 0.04 | 0.25 | 1.25 | (3.75) | (2.76) |
| 2023 | 99106 | 7.20 | 7.20 | 713432 | 0.03 | 1.25 | 1.45 | (1.64) | (1.64) |
| 2022 | 95832 | 7.32 | 7.32 | 701493 | 0.03 | 1.45 | 1.45 | (14.88) | (14.88) |
| 2021 | 92699 | 8.60 | 8.60 | 797314 | 0.01 | 1.45 | 1.45 | (5.18) | (5.18) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  AFIS Washington Mutual Investors |  |  |  |  |  |  |  |  |  |
| 2025 | 61214 | 20.12 | 22.70 | 1269847 | 1.28 | 0.25 | 1.25 | 12.03 | 13.16 |
| 2024 | 56358 | 17.96 | 20.06 | 1036916 | 0.01 | 0.25 | 1.25 | 13.89 | 15.02 |
| 2023 | 56445 | 15.77 | 17.44 | 909260 | 0.02 | 0.25 | 1.45 | 12.08 | 13.25 |
| 2022 | 57468 | 14.07 | 15.40 | 826694 | 0.02 | 0.25 | 1.45 | (12.50) | (11.60) |
| 2021 | 51035 | 16.08 | 17.42 | 838239 | 0.01 | 0.25 | 1.45 | 22.00 | 23.46 |
|  Alger Capital Appreciation (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 11628 | 41.71 | 55.51 | 505456 |  | 0.25 | 1.25 | 26.97 | 28.26 |
| 2024 | 22311 | 32.85 | 43.28 | 746316 |  | 0.25 | 1.25 | 41.59 | 43.03 |
| 2023 | 21997 | 23.20 | 30.26 | 520741 |  | 0.25 | 1.45 | 36.87 | 38.24 |
| 2022 | 35680 | 16.95 | 21.89 | 680978 |  | 0.25 | 1.45 | (39.33) | (38.70) |
| 2021 | 36228 | 27.94 | 35.71 | 1136567 |  | 0.25 | 1.45 | 13.67 | 15.05 |
|  Alger Large Cap Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 3459 | 18.15 | 18.82 | 64371 |  | 0.25 | 1.25 | 24.83 | 26.14 |
| 2024 | 979 | 14.54 | 14.92 | 14230 |  | 0.25 | 1.25 | 36.91 | 38.28 |
| 2023 | 2850 | 10.62 | 10.79 | 30600 |  | 0.25 | 1.45 | 27.19 | 28.45 |
| 2022 | 2802 | 8.35 | 8.40 | 23498 |  | 0.25 | 1.45 | (16.50) | (16.00) |
|  Allspring Opportunity VT |  |  |  |  |  |  |  |  |  |
| 2025 | 4962 | 26.97 | 26.97 | 133996 | 0.05 | 1.40 | 1.40 | 2.12 | 2.12 |
| 2024 | 5310 | 26.41 | 26.41 | 140239 |  | 1.40 | 1.40 | 10.04 | 10.04 |
| 2023 | 5655 | 24.00 | 24.00 | 135911 |  | 1.40 | 1.40 | 21.09 | 21.09 |
| 2022 | 6005 | 19.82 | 19.82 | 119192 |  | 1.40 | 1.40 | (24.21) | (24.21) |
| 2021 | 5440 | 26.15 | 26.15 | 142436 | 0.00 | 1.40 | 1.40 | 19.41 | 19.41 |
|  Allspring VT Discovery All Cap Growth Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 4803 | 25.57 | 25.57 | 122816 |  | 1.25 | 1.25 | 10.45 | 10.45 |
| 2024 | 4670 | 23.15 | 23.15 | 108109 |  | 1.25 | 1.25 | 15.92 | 15.92 |
| 2023 | 4540 | 19.97 | 19.97 | 90662 |  | 1.25 | 1.45 | 27.60 | 27.60 |
| 2022 | 4415 | 15.65 | 15.65 | 69076 |  | 1.45 | 1.45 | (39.78) | (39.78) |
| 2021 | 4785 | 25.99 | 25.99 | 124345 |  | 1.45 | 1.45 | 9.94 | 9.94 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  ALPS/Alerian Energy Infrastructure |  |  |  |  |  |  |  |  |  |
| 2025 | 3696 | 11.93 | 13.64 | 44256 | 2.85 | 0.25 | 1.25 | 0.25 | 1.34 |
| 2024 | 9526 | 11.90 | 13.46 | 113454 | 0.02 | 0.25 | 1.25 | 34.77 | 36.10 |
| 2023 | 9258 | 8.83 | 9.89 | 81835 | 0.02 | 0.25 | 1.45 | 9.15 | 10.26 |
| 2022 | 21462 | 8.09 | 8.97 | 184557 | 0.05 | 0.25 | 1.45 | 12.52 | 13.54 |
| 2021 | 17838 | 7.19 | 7.90 | 137222 | 0.02 | 0.25 | 1.45 | 31.68 | 33.45 |
|  American Funds IS<sup>®</sup> Asset Allocation |  |  |  |  |  |  |  |  |  |
| 2025 | 42518 | 15.65 | 17.65 | 686205 | 1.83 | 0.25 | 1.25 | 10.84 | 11.92 |
| 2024 | 41442 | 14.12 | 15.77 | 602177 | 0.02 | 0.25 | 1.25 | 11.27 | 12.40 |
| 2023 | 55079 | 12.69 | 14.03 | 713213 | 0.02 | 0.25 | 1.45 | 9.21 | 10.39 |
| 2022 | 49949 | 11.62 | 12.71 | 591459 | 0.01 | 0.25 | 1.45 | (17.24) | (16.44) |
| 2021 | 109404 | 14.04 | 15.21 | 1543759 | 0.01 | 0.25 | 1.45 | 9.86 | 11.18 |
|  American Funds IS<sup>®</sup> Capital World Bond |  |  |  |  |  |  |  |  |  |
| 2025 | 14628 | 6.14 | 6.92 | 100052 | 2.90 | 0.25 | 1.25 | 4.60 | 5.49 |
| 2024 | 14198 | 5.87 | 6.56 | 92096 | 0.02 | 0.25 | 1.25 | (7.41) | (6.42) |
| 2023 | 14316 | 6.34 | 7.01 | 99000 |  | 0.25 | 1.45 | 1.44 | 2.49 |
| 2022 | 13896 | 6.25 | 6.84 | 93865 | 0.00 | 0.25 | 1.45 | (21.19) | (20.47) |
| 2021 | 13489 | 7.93 | 8.60 | 114713 | 0.02 | 0.25 | 1.45 | (9.37) | (8.12) |
|  American Funds IS<sup>®</sup> Global Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 18582 | 20.43 | 23.05 | 393060 | 1.19 | 0.25 | 1.25 | 16.28 | 17.48 |
| 2024 | 20442 | 17.57 | 19.62 | 367529 | 0.01 | 0.25 | 1.25 | 8.59 | 9.73 |
| 2023 | 20810 | 16.18 | 17.88 | 343307 | 0.01 | 0.25 | 1.45 | 17.25 | 18.41 |
| 2022 | 21544 | 13.80 | 15.10 | 302307 | 0.00 | 0.25 | 1.45 | (28.05) | (27.30) |
| 2021 | 21141 | 19.18 | 20.77 | 411376 | 0.00 | 0.25 | 1.45 | 11.12 | 12.39 |
|  American Funds IS<sup>®</sup> Global Small Capitalization |  |  |  |  |  |  |  |  |  |
| 2025 | 1822 | 11.91 | 13.44 | 22921 | 0.26 | 0.25 | 1.25 | 9.57 | 10.71 |
| 2024 | 992 | 10.87 | 10.87 | 10773 |  | 1.25 | 1.25 | (2.16) | (2.16) |
| 2023 | 8104 | 11.11 | 11.11 | 90062 | 0.00 | 1.25 | 1.45 | 10.99 | 10.99 |
| 2022 | 8025 | 10.01 | 10.01 | 80362 |  | 1.45 | 1.45 | (32.64) | (32.64) |
| 2021 | 7946 | 14.86 | 14.86 | 118077 |  | 1.45 | 1.45 | 1.78 | 1.78 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  American Funds IS<sup>®</sup> Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 48302 | 35.32 | 39.84 | 1857877 | 0.06 | 0.25 | 1.25 | 14.90 | 16.08 |
| 2024 | 23306 | 30.74 | 34.32 | 716889 |  | 0.25 | 1.25 | 25.83 | 27.11 |
| 2023 | 28019 | 24.43 | 27.00 | 689557 | 0.00 | 0.25 | 1.45 | 32.41 | 33.73 |
| 2022 | 27983 | 18.45 | 20.19 | 520158 | 0.00 | 0.25 | 1.45 | (33.03) | (32.34) |
| 2021 | 27270 | 27.55 | 29.84 | 755723 | 0.00 | 0.25 | 1.45 | 16.39 | 17.80 |
|  American Funds IS<sup>®</sup> Growth-Income |  |  |  |  |  |  |  |  |  |
| 2025 | 19515 | 23.64 | 26.66 | 476829 | 0.71 | 0.25 | 1.25 | 12.84 | 13.98 |
| 2024 | 21722 | 20.95 | 23.39 | 464588 | 0.01 | 0.25 | 1.25 | 18.76 | 19.95 |
| 2023 | 21621 | 17.64 | 19.50 | 389339 | 0.01 | 0.25 | 1.45 | 20.57 | 21.80 |
| 2022 | 21241 | 14.63 | 16.01 | 316440 | 0.01 | 0.25 | 1.45 | (20.14) | (19.35) |
| 2021 | 18672 | 18.32 | 19.85 | 344940 | 0.01 | 0.25 | 1.45 | 18.42 | 19.87 |
|  American Funds IS<sup>®</sup> International |  |  |  |  |  |  |  |  |  |
| 2025 | 4964 | 10.56 | 11.91 | 55458 | 0.84 | 0.25 | 1.25 | 21.10 | 22.40 |
| 2024 | 9680 | 8.72 | 9.73 | 86687 | 0.01 | 0.25 | 1.25 | (1.36) | (0.41) |
| 2023 | 5470 | 8.84 | 9.77 | 50397 | 0.01 | 0.25 | 1.45 | 10.78 | 11.91 |
| 2022 | 5319 | 7.98 | 8.73 | 44068 | 0.01 | 0.25 | 1.45 | (24.29) | (23.56) |
| 2021 | 5173 | 10.54 | 11.42 | 56381 | 0.03 | 0.25 | 1.45 | (5.98) | (4.83) |
|  American Funds IS<sup>®</sup> International Growth and Income |  |  |  |  |  |  |  |  |  |
| 2025 | 30397 | 10.93 | 12.33 | 370641 | 2.43 | 0.25 | 1.25 | 29.50 | 30.75 |
| 2024 | 29933 | 8.44 | 9.43 | 279133 | 0.02 | 0.25 | 1.25 | (1.17) | (0.11) |
| 2023 | 29487 | 8.54 | 9.44 | 275646 | 0.03 | 0.25 | 1.45 | 10.77 | 11.98 |
| 2022 | 12736 | 7.71 | 8.43 | 105047 | 0.03 | 0.25 | 1.45 | (19.01) | (18.23) |
| 2021 | 12528 | 9.52 | 10.31 | 126514 | 0.03 | 0.25 | 1.45 | 0.53 | 1.68 |
|  American Funds IS<sup>®</sup> Mortgage |  |  |  |  |  |  |  |  |  |
| 2025 |  | 7.16 | 7.16 |  |  | 1.25 | 1.25 | 3.77 | 3.77 |
| 2024 |  | 6.90 | 7.80 |  |  | 0.25 | 1.25 | (3.90) | (2.86) |
| 2023 |  | 7.18 | 7.93 |  |  | 0.25 | 1.25 | (0.69) | 0.13 |
| 2022 |  | 7.23 | 7.92 |  |  | 0.25 | 1.45 | (13.93) | (12.97) |
| 2021 |  | 8.40 | 9.22 |  |  | 0.25 | 1.45 | (5.08) | (3.96) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  American Funds IS<sup>®</sup> New World |  |  |  |  |  |  |  |  |  |
| 2025 | 13791 | 12.66 | 14.28 | 178821 | 0.95 | 0.25 | 1.25 | 22.56 | 23.85 |
| 2024 | 13038 | 10.33 | 11.53 | 138187 | 0.01 | 0.25 | 1.25 | 1.97 | 2.95 |
| 2023 | 12760 | 10.13 | 11.20 | 132285 | 0.01 | 0.25 | 1.45 | 10.83 | 12.00 |
| 2022 | 12457 | 9.14 | 10.00 | 116090 | 0.01 | 0.25 | 1.45 | (25.51) | (24.76) |
| 2021 | 11261 | 12.27 | 13.29 | 139865 | 0.01 | 0.25 | 1.45 | 0.08 | 1.30 |
|  BlackRock Advantage Large Cap Core V.I. |  |  |  |  |  |  |  |  |  |
| 2025 | 1499 | 27.45 | 27.45 | 41138 | 0.23 | 1.25 | 1.25 | 14.71 | 14.71 |
| 2024 | 1457 | 23.93 | 30.65 | 34863 |  | 0.25 | 1.25 | 19.89 | 21.10 |
| 2023 | 1433 | 19.96 | 25.31 | 28676 | 0.00 | 0.25 | 1.45 | 19.74 | 20.93 |
| 2022 | 9249 | 16.67 | 20.93 | 187692 | 0.01 | 0.25 | 1.45 | (23.46) | (22.71) |
| 2021 | 9438 | 21.78 | 27.08 | 248406 | 0.00 | 0.25 | 1.45 | 22.50 | 23.99 |
|  BlackRock Basic Value V.I. |  |  |  |  |  |  |  |  |  |
| 2025 | 1349 | 17.85 | 17.85 | 24060 | 1.87 | 1.25 | 1.25 | 18.92 | 18.92 |
| 2024 | 1343 | 15.01 | 15.01 | 20157 |  | 1.25 | 1.25 | 5.41 | 5.41 |
| 2023 | 9361 | 14.24 | 14.24 | 133226 | 0.02 | 1.25 | 1.45 | 11.42 | 11.42 |
| 2022 | 9262 | 12.78 | 12.78 | 118317 | 0.02 | 1.45 | 1.45 | (9.04) | (9.04) |
| 2021 | 2226 | 14.05 | 14.05 | 31239 | 0.01 | 1.45 | 1.45 | 16.02 | 16.02 |
|  BlackRock Equity Dividend V.I. |  |  |  |  |  |  |  |  |  |
| 2025 | 15498 | 19.29 | 25.41 | 309134 | 2.15 | 0.25 | 1.25 | 16.27 | 17.42 |
| 2024 | 13539 | 16.59 | 16.59 | 224778 | 0.02 | 1.25 | 1.25 | 5.13 | 5.13 |
| 2023 | 16073 | 15.78 | 15.78 | 253795 | 0.02 | 1.25 | 1.45 | 7.35 | 7.35 |
| 2022 | 15630 | 14.70 | 14.70 | 229938 | 0.01 | 1.45 | 1.45 | (8.13) | (8.13) |
| 2021 | 15200 | 16.00 | 16.00 | 243284 | 0.01 | 1.45 | 1.45 | 15.11 | 15.11 |
|  BlackRock Global Allocation V.I. |  |  |  |  |  |  |  |  |  |
| 2025 | 9541 | 12.57 | 12.57 | 119765 | 4.27 | 1.25 | 1.25 | 14.59 | 14.59 |
| 2024 | 9259 | 10.97 | 12.54 | 101478 | 0.01 | 0.25 | 1.25 | 4.38 | 5.47 |
| 2023 | 12200 | 10.51 | 11.89 | 131622 | 0.02 | 0.25 | 1.45 | 7.79 | 8.88 |
| 2022 | 12907 | 9.75 | 10.92 | 129853 |  | 0.25 | 1.45 | (19.55) | (18.75) |
| 2021 | 12603 | 12.12 | 13.44 | 157212 | 0.01 | 0.25 | 1.45 | 1.76 | 2.99 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  BlackRock High Yield V.I. |  |  |  |  |  |  |  |  |  |
| 2025 | 44042 | 10.83 | 12.36 | 506140 | 6.37 | 0.25 | 1.25 | 4.54 | 5.55 |
| 2024 | 45888 | 10.36 | 11.71 | 503472 | 0.07 | 0.25 | 1.25 | 3.29 | 4.37 |
| 2023 | 44022 | 10.03 | 11.22 | 464398 | 0.06 | 0.25 | 1.45 | 8.20 | 9.36 |
| 2022 | 53336 | 9.27 | 10.26 | 521860 | 0.05 | 0.25 | 1.45 | (14.25) | (13.42) |
| 2021 | 52783 | 10.81 | 11.85 | 600473 | 0.04 | 0.25 | 1.45 | 0.65 | 1.80 |
|  BlackRock Large Cap Focus Growth V.I. |  |  |  |  |  |  |  |  |  |
| 2025 | 1818 | 34.55 | 34.55 | 62839 |  | 1.25 | 1.25 | 6.83 | 6.83 |
| 2024 | 5324 | 32.34 | 32.34 | 172446 |  | 1.25 | 1.25 | 25.89 | 25.89 |
| 2023 | 1843 | 25.69 | 25.69 | 47359 |  | 1.25 | 1.45 | 46.13 | 46.13 |
| 2022 | 4371 | 17.58 | 17.58 | 77084 |  | 1.45 | 1.45 | (40.81) | (40.81) |
| 2021 | 4281 | 29.70 | 29.70 | 127380 |  | 1.45 | 1.45 | 12.63 | 12.63 |
|  BNY Mellon IP Small Cap Stock Index |  |  |  |  |  |  |  |  |  |
| 2025 | 5335 | 16.22 | 20.99 | 101195 | 1.11 | 0.25 | 1.25 | 1.00 | 1.94 |
| 2024 | 6423 | 16.06 | 20.59 | 122026 | 0.01 | 0.25 | 1.25 | 3.41 | 4.52 |
| 2023 | 5767 | 15.53 | 19.70 | 104216 | 0.01 | 0.25 | 1.45 | 10.61 | 11.74 |
| 2022 | 5845 | 14.04 | 17.63 | 95005 | 0.01 | 0.25 | 1.45 | (20.09) | (19.31) |
| 2021 | 6442 | 17.57 | 21.85 | 130254 | 0.01 | 0.25 | 1.45 | 20.67 | 22.14 |
|  BNY Mellon IP Technology Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 7892 | 37.25 | 43.89 | 295463 |  | 0.25 | 1.25 | 22.53 | 23.77 |
| 2024 | 7791 | 30.40 | 35.46 | 236902 |  | 0.25 | 1.25 | 20.11 | 21.36 |
| 2023 | 7924 | 25.31 | 29.22 | 201760 |  | 0.25 | 1.45 | 52.38 | 53.95 |
| 2022 | 7723 | 16.61 | 18.98 | 128968 |  | 0.25 | 1.45 | (48.72) | (48.23) |
| 2021 | 7527 | 32.39 | 36.66 | 245094 |  | 0.25 | 1.45 | 7.72 | 9.04 |
|  BNY Mellon VIF Appreciation |  |  |  |  |  |  |  |  |  |
| 2025 | 547 | 21.66 | 21.66 | 11837 | 0.73 | 1.25 | 1.25 | 5.25 | 5.25 |
| 2024 | 531 | 20.58 | 20.58 | 10941 |  | 1.25 | 1.25 | 7.75 | 7.75 |
| 2023 | 517 | 19.10 | 19.10 | 9871 | 0.00 | 1.25 | 1.45 | 15.69 | 15.69 |
| 2022 | 503 | 16.51 | 16.51 | 8300 | 0.01 | 1.45 | 1.45 | (21.64) | (21.64) |
| 2021 |  | 21.07 | 23.91 |  |  | 0.25 | 1.45 | 21.23 | 22.74 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Dimensional VA Global Moderate Allocation |  |  |  |  |  |  |  |  |  |
| 2025 |  | 12.99 | 12.99 |  |  | 1.65 | 1.65 | 9.44 | 9.44 |
| 2024 | 3938 | 11.87 | 11.87 | 46759 |  | 1.65 | 1.65 | 6.84 | 6.84 |
| 2023 |  | 11.11 | 11.93 |  |  | 0.25 | 1.65 | 9.57 | 11.08 |
| 2022 |  | 10.14 | 10.71 |  |  | 0.25 | 1.85 | (15.00) | (13.77) |
| 2021 |  | 11.93 | 12.46 |  |  | 0.25 | 1.85 | 8.75 | 10.56 |
|  Dimensional VA International Small Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 17605 | 14.66 | 17.51 | 301532 | 3.42 | 0.25 | 1.65 | 30.78 | 32.55 |
| 2024 | 18528 | 11.21 | 13.21 | 237782 | 0.04 | 0.25 | 1.65 | (0.97) | 0.53 |
| 2023 | 17615 | 11.32 | 13.14 | 225283 | 0.04 | 0.25 | 1.85 | 8.95 | 10.51 |
| 2022 | 6620 | 10.39 | 11.89 | 73743 | 0.02 | 0.25 | 1.85 | (21.35) | (20.31) |
| 2021 | 7032 | 13.21 | 14.92 | 99356 | 0.03 | 0.25 | 1.85 | 9.08 | 10.93 |
|  Dimensional VA International Value Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 88277 | 14.64 | 17.03 | 1498823 | 4.55 | 0.25 | 1.65 | 39.03 | 40.98 |
| 2024 | 86225 | 10.53 | 12.08 | 1038679 | 0.04 | 0.25 | 1.65 | 1.74 | 3.25 |
| 2023 | 98854 | 10.35 | 11.70 | 1139231 | 0.07 | 0.25 | 1.85 | 12.50 | 14.04 |
| 2022 | 32653 | 9.20 | 10.26 | 321359 | 0.05 | 0.25 | 1.85 | (7.82) | (6.47) |
| 2021 | 19336 | 9.98 | 10.97 | 204370 | 0.05 | 0.25 | 1.85 | 12.51 | 14.27 |
|  Dimensional VA Short-Term Fixed Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 23597 | 7.73 | 7.73 | 182351 | 3.89 | 0.25 | 0.25 | 1.05 | 1.05 |
| 2024 | 27002 | 7.65 | 7.65 | 206626 | 0.05 | 0.25 | 0.25 | 2.14 | 2.14 |
| 2023 | 26645 | 7.49 | 7.49 | 199680 | 0.07 | 0.25 | 0.25 | 1.63 | 1.63 |
| 2022 | 705 | 7.37 | 7.37 | 5184 | 0.01 | 0.25 | 0.25 | (4.41) | (4.41) |
| 2021 | 1003 | 7.71 | 7.71 | 7716 |  | 0.25 | 0.25 | (3.38) | (3.38) |
|  Dimensional VA U.S. Large Value Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 16949 | 17.84 | 23.46 | 350158 | 1.74 | 0.25 | 1.65 | 10.53 | 12.09 |
| 2024 | 20630 | 16.14 | 20.93 | 372835 | 0.02 | 0.25 | 1.65 | 8.25 | 9.75 |
| 2023 | 29316 | 14.91 | 19.07 | 509180 | 0.01 | 0.25 | 1.85 | 5.82 | 7.38 |
| 2022 | 62077 | 14.09 | 17.76 | 1059205 | 0.02 | 0.25 | 1.85 | (9.16) | (7.88) |
| 2021 | 62879 | 15.51 | 19.28 | 1169141 | 0.02 | 0.25 | 1.85 | 20.98 | 22.96 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Dimensional VA U.S. Targeted Value Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 29387 | 17.58 | 23.64 | 691690 | 2.31 | 0.25 | 1.65 | 3.96 | 5.44 |
| 2024 | 15628 | 16.91 | 22.42 | 347718 | 0.01 | 0.25 | 1.65 | 3.24 | 4.72 |
| 2023 | 29501 | 16.38 | 21.41 | 561271 | 0.02 | 0.25 | 1.85 | 14.55 | 16.17 |
| 2022 | 13762 | 14.30 | 18.43 | 196704 | 0.01 | 0.25 | 1.85 | (8.51) | (7.25) |
| 2021 | 13896 | 15.63 | 19.87 | 218774 | 0.03 | 0.25 | 1.85 | 33.02 | 35.17 |
|  Donoghue Forlines Dividend VIT Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 1291 | 10.49 | 10.49 | 13549 | 1.24 | 0.25 | 0.25 | 13.41 | 13.41 |
| 2024 | 1255 | 9.25 | 9.25 | 11613 | 0.02 | 0.25 | 0.25 | 9.21 | 9.21 |
| 2023 | 1221 | 8.47 | 8.47 | 10346 | 0.02 | 0.25 | 0.25 | (4.72) | (4.72) |
| 2022 | 1187 | 8.89 | 8.89 | 10560 |  | 0.25 | 0.25 | (13.18) | (13.18) |
| 2021 |  | 10.24 | 10.24 |  |  | 0.25 | 1.45 |  |  |
|  DWS Small Mid Cap Value VIP |  |  |  |  |  |  |  |  |  |
| 2025 |  | 16.42 | 16.42 |  | 1.18 | 0.25 | 0.25 | 14.03 | 14.03 |
| 2024 | 29288 | 14.40 | 14.40 | 421577 | 0.01 | 0.25 | 0.25 | 2.42 | 2.42 |
| 2023 | 27542 | 14.06 | 14.06 | 387084 | 0.00 | 0.25 | 0.25 | 10.97 | 10.97 |
| 2022 | 1653 | 12.67 | 12.67 | 20940 | 0.01 | 0.25 | 0.25 | (18.83) | (18.83) |
| 2021 | 927 | 15.61 | 15.61 | 14465 |  | 0.25 | 0.25 | 25.89 | 25.89 |
|  Eaton Vance VT Floating-Rate Income |  |  |  |  |  |  |  |  |  |
| 2025 | 23466 | 9.15 | 10.32 | 241290 | 6.65 | 0.25 | 1.25 | (0.33) | 0.58 |
| 2024 | 20990 | 10.26 | 10.26 | 215438 | 0.08 | 0.25 | 0.25 | 4.27 | 4.27 |
| 2023 | 23674 | 9.84 | 9.84 | 233061 | 0.08 | 0.25 | 0.25 | 7.66 | 7.66 |
| 2022 | 21338 | 9.14 | 9.14 | 195138 | 0.06 | 0.25 | 0.25 | (5.87) | (5.87) |
| 2021 | 5656 | 9.71 | 9.71 | 54937 | 0.03 | 0.25 | 0.25 | 0.31 | 0.31 |
|  Federated Hermes Fund for U.S. Government Securities II |  |  |  |  |  |  |  |  |  |
| 2025 | 23750 | 6.50 | 8.01 | 158529 | 3.88 | 0.25 | 1.45 | 2.20 | 3.35 |
| 2024 | 23821 | 6.36 | 7.75 | 155592 | 0.04 | 0.25 | 1.45 | (3.93) | (2.64) |
| 2023 | 23898 | 6.62 | 7.96 | 161644 | 0.02 | 0.25 | 1.45 | (0.30) | 0.89 |
| 2022 | 34749 | 6.64 | 7.89 | 234858 | 0.12 | 0.25 | 1.45 | (16.37) | (15.43) |
| 2021 | 24140 | 7.94 | 9.33 | 195373 | 0.02 | 0.25 | 1.45 | (6.37) | (5.09) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Federated Hermes High Income Bond II |  |  |  |  |  |  |  |  |  |
| 2025 | 21446 | 10.04 | 14.88 | 274855 | 5.66 | 0.25 | 1.35 | 3.63 | 4.71 |
| 2024 | 21756 | 9.68 | 14.31 | 267923 | 0.05 | 0.25 | 1.35 | 1.27 | 2.45 |
| 2023 | 21872 | 9.55 | 14.13 | 264378 | 0.06 | 0.25 | 1.45 | 7.70 | 8.87 |
| 2022 | 30190 | 8.86 | 12.74 | 319916 | 0.05 | 0.25 | 1.45 | (15.54) | (14.73) |
| 2021 | 34357 | 10.49 | 14.94 | 441956 | 0.05 | 0.25 | 1.45 | (0.10) | 1.08 |
|  Fidelity<sup>®</sup> VIP Balanced |  |  |  |  |  |  |  |  |  |
| 2025 | 47829 | 19.34 | 23.50 | 945472 | 1.53 | 0.25 | 1.25 | 10.14 | 11.27 |
| 2024 | 51019 | 17.56 | 21.12 | 912794 | 0.02 | 0.25 | 1.25 | 10.79 | 11.92 |
| 2023 | 41196 | 15.85 | 18.87 | 662148 | 0.02 | 0.25 | 1.45 | 16.20 | 17.35 |
| 2022 | 38757 | 13.64 | 16.08 | 535912 | 0.01 | 0.25 | 1.45 | (21.56) | (20.79) |
| 2021 | 34512 | 17.39 | 17.39 | 600170 | 0.01 | 1.45 | 1.45 | 12.85 | 12.85 |
|  Fidelity<sup>®</sup> VIP Contrafund |  |  |  |  |  |  |  |  |  |
| 2025 | 60161 | 30.58 | 44.51 | 2046443 |  | 0.25 | 1.35 | 16.03 | 17.32 |
| 2024 | 75872 | 26.33 | 38.36 | 2170046 |  | 0.25 | 1.35 | 27.74 | 29.18 |
| 2023 | 72047 | 20.59 | 30.03 | 1629629 | 0.00 | 0.25 | 1.45 | 27.46 | 28.88 |
| 2022 | 73484 | 16.14 | 19.70 | 1308832 | 0.00 | 0.25 | 1.45 | (29.52) | (28.83) |
| 2021 | 70263 | 22.90 | 27.68 | 1783234 | 0.00 | 0.25 | 1.45 | 21.94 | 23.41 |
|  Fidelity<sup>®</sup> VIP Disciplined Small Cap |  |  |  |  |  |  |  |  |  |
| 2025 | 4531 | 17.93 | 24.70 | 89544 | 0.73 | 0.25 | 1.25 | 12.20 | 13.35 |
| 2024 | 2486 | 15.98 | 21.79 | 47409 | 0.01 | 0.25 | 1.25 | 11.67 | 12.84 |
| 2023 | 2560 | 14.31 | 19.31 | 43861 | 0.01 | 0.25 | 1.45 | 15.68 | 16.82 |
| 2022 | 2593 | 12.37 | 16.53 | 38271 | 0.01 | 0.25 | 1.45 | (21.86) | (21.06) |
| 2021 | 2521 | 15.83 | 20.94 | 47310 | 0.00 | 0.25 | 1.45 | 15.21 | 16.53 |
|  Fidelity<sup>®</sup> VIP Emerging Markets |  |  |  |  |  |  |  |  |  |
| 2025 | 57491 | 15.35 | 16.49 | 902600 | 1.77 | 0.25 | 1.25 | 34.89 | 36.28 |
| 2024 | 24277 | 11.38 | 12.10 | 288546 | 0.01 | 0.25 | 1.25 | 5.08 | 6.14 |
| 2023 | 20831 | 10.83 | 11.40 | 234018 | 0.02 | 0.25 | 1.45 | 4.94 | 6.05 |
| 2022 | 15887 | 10.32 | 10.75 | 168291 | 0.01 | 0.25 | 1.45 | (23.67) | (22.94) |
| 2021 | 15499 | 13.52 | 13.95 | 213737 | 0.02 | 0.25 | 1.45 | (6.63) | (5.55) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Fidelity<sup>®</sup> VIP Growth & Income |  |  |  |  |  |  |  |  |  |
| 2025 | 23414 | 24.35 | 35.98 | 714814 | 1.37 | 0.25 | 1.25 | 16.17 | 17.31 |
| 2024 | 22683 | 20.96 | 30.67 | 591973 | 0.01 | 0.25 | 1.25 | 16.83 | 18.09 |
| 2023 | 22295 | 17.94 | 25.98 | 495386 | 0.01 | 0.25 | 1.45 | 13.47 | 14.60 |
| 2022 | 26051 | 15.81 | 22.25 | 519134 | 0.01 | 0.25 | 1.45 | (9.14) | (8.17) |
| 2021 | 24865 | 17.40 | 24.23 | 545448 | 0.02 | 0.25 | 1.45 | 20.17 | 21.64 |
|  Fidelity<sup>®</sup> VIP Growth Opportunities |  |  |  |  |  |  |  |  |  |
| 2025 | 18125 | 45.97 | 59.70 | 882354 |  | 0.25 | 1.35 | 16.44 | 17.73 |
| 2024 | 40531 | 39.44 | 50.71 | 1888961 |  | 0.25 | 1.35 | 32.60 | 34.12 |
| 2023 | 48957 | 29.71 | 37.81 | 1668656 |  | 0.25 | 1.45 | 39.13 | 40.66 |
| 2022 | 58455 | 21.33 | 26.88 | 1429680 |  | 0.25 | 1.45 | (40.88) | (40.27) |
| 2021 | 66243 | 36.08 | 45.00 | 2701860 |  | 0.25 | 1.45 | 6.81 | 8.10 |
|  Fidelity<sup>®</sup> VIP High Income |  |  |  |  |  |  |  |  |  |
| 2025 | 3900 | 9.80 | 11.07 | 39206 | 6.75 | 0.25 | 1.25 | 5.72 | 6.85 |
| 2024 | 3793 | 9.27 | 10.36 | 35989 | 0.05 | 0.25 | 1.25 | 4.16 | 5.07 |
| 2023 | 4753 | 8.90 | 9.86 | 44088 | 0.06 | 0.25 | 1.45 | 5.58 | 6.71 |
| 2022 | 4626 | 8.43 | 9.24 | 40454 | 0.06 | 0.25 | 1.45 | (15.36) | (14.44) |
| 2021 | 3487 | 9.96 | 10.80 | 35337 | 0.05 | 0.25 | 1.45 | (0.20) | 0.93 |
|  Fidelity<sup>®</sup> VIP Index 500 |  |  |  |  |  |  |  |  |  |
| 2025 | 63189 | 28.17 | 34.04 | 1936039 | 0.98 | 0.25 | 1.40 | 12.43 | 13.69 |
| 2024 | 51048 | 25.02 | 29.94 | 1348814 | 0.01 | 0.25 | 1.40 | 19.17 | 20.58 |
| 2023 | 52451 | 20.96 | 24.83 | 1152075 | 0.01 | 0.25 | 1.45 | 20.51 | 21.89 |
| 2022 | 85754 | 17.37 | 20.37 | 1603744 | 0.01 | 0.25 | 1.45 | (21.83) | (21.02) |
| 2021 | 102551 | 22.22 | 25.79 | 2427037 | 0.01 | 0.25 | 1.45 | 22.69 | 24.17 |
|  Fidelity<sup>®</sup> VIP Investment Grade Bond |  |  |  |  |  |  |  |  |  |
| 2025 | 55148 | 7.74 | 9.67 | 469590 | 3.35 | 0.25 | 1.35 | 2.38 | 3.53 |
| 2024 | 61128 | 7.56 | 9.34 | 505260 | 0.03 | 0.25 | 1.35 | (2.83) | (1.68) |
| 2023 | 77772 | 7.77 | 9.50 | 674072 | 0.02 | 0.25 | 1.45 | 1.44 | 2.59 |
| 2022 | 94339 | 7.65 | 9.26 | 795192 | 0.02 | 0.25 | 1.45 | (16.85) | (16.05) |
| 2021 | 95114 | 9.20 | 11.03 | 961992 | 0.02 | 0.25 | 1.45 | (5.15) | (4.00) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Fidelity<sup>®</sup> VIP Mid Cap |  |  |  |  |  |  |  |  |  |
| 2025 | 3681 | 18.46 | 22.35 | 79898 | 0.24 | 0.25 | 1.25 | 6.83 | 7.92 |
| 2024 | 3761 | 17.28 | 20.71 | 75213 |  | 0.25 | 1.25 | 12.28 | 13.42 |
| 2023 | 3721 | 15.39 | 18.26 | 65616 | 0.00 | 0.25 | 1.45 | 10.09 | 11.21 |
| 2022 | 14659 | 13.98 | 16.42 | 238670 | 0.00 | 0.25 | 1.45 | (18.48) | (17.69) |
| 2021 | 15119 | 17.15 | 19.95 | 299068 | 0.00 | 0.25 | 1.45 | 19.85 | 21.28 |
|  Fidelity<sup>®</sup> VIP Overseas |  |  |  |  |  |  |  |  |  |
| 2025 | 10259 | 13.41 | 15.01 | 144460 | 1.45 | 0.25 | 1.25 | 15.11 | 16.18 |
| 2024 | 10131 | 11.65 | 12.92 | 123593 | 0.01 | 0.25 | 1.25 | 0.43 | 1.49 |
| 2023 | 10158 | 11.60 | 12.73 | 122988 | 0.01 | 0.25 | 1.45 | 15.19 | 16.36 |
| 2022 | 5442 | 10.07 | 10.07 | 54802 | 0.01 | 1.45 | 1.45 | (27.81) | (27.81) |
| 2021 | 5257 | 13.95 | 13.95 | 73333 | 0.00 | 1.45 | 1.45 | 14.25 | 14.25 |
|  Fidelity<sup>®</sup> VIP Real Estate |  |  |  |  |  |  |  |  |  |
| 2025 | 5153 | 10.25 | 13.97 | 62511 | 1.95 | 0.25 | 1.25 | (1.44) | (0.36) |
| 2024 | 5010 | 10.40 | 14.02 | 61254 | 0.04 | 0.25 | 1.25 | 1.86 | 2.86 |
| 2023 | 6285 | 10.21 | 13.63 | 72572 | 0.02 | 0.25 | 1.45 | 6.24 | 7.32 |
| 2022 | 16686 | 9.61 | 12.70 | 200398 | 0.01 | 0.25 | 1.45 | (30.66) | (29.99) |
| 2021 | 17169 | 13.86 | 18.14 | 295978 | 0.01 | 0.25 | 1.45 | 32.63 | 34.27 |
|  Fidelity<sup>®</sup> VIP Strategic Income |  |  |  |  |  |  |  |  |  |
| 2025 | 22336 | 9.17 | 10.63 | 206297 | 3.63 | 0.25 | 1.25 | 4.09 | 5.04 |
| 2024 | 21804 | 8.81 | 10.12 | 193514 | 0.03 | 0.25 | 1.25 | 1.38 | 2.43 |
| 2023 | 22855 | 8.69 | 9.88 | 199979 | 0.04 | 0.25 | 1.45 | 4.57 | 5.67 |
| 2022 | 22411 | 8.31 | 9.35 | 187372 | 0.04 | 0.25 | 1.45 | (15.20) | (14.30) |
| 2021 | 17860 | 9.80 | 9.80 | 174988 | 0.03 | 1.45 | 1.45 | (1.01) | (1.01) |
|  Franklin DynaTech VIP |  |  |  |  |  |  |  |  |  |
| 2025 | 1338 | 28.05 | 33.85 | 43814 |  | 0.25 | 1.25 | 13.20 | 14.32 |
| 2024 | 236 | 24.78 | 29.61 | 5845 |  | 0.25 | 1.25 | 24.96 | 26.27 |
| 2023 | 1076 | 19.83 | 23.45 | 24395 |  | 0.25 | 1.45 | 37.80 | 39.17 |
| 2022 | 1058 | 14.39 | 16.85 | 17277 |  | 0.25 | 1.45 | (42.44) | (41.86) |
| 2021 | 880 | 25.00 | 28.98 | 25500 |  | 0.25 | 1.45 | 11.11 | 12.46 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Franklin Growth and Income VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 19211 | 19.83 | 26.83 | 432859 | 2.13 | 0.25 | 1.25 | 12.03 | 13.16 |
| 2024 | 18647 | 17.70 | 23.71 | 373296 | 0.02 | 0.25 | 1.25 | 13.10 | 14.21 |
| 2023 | 18110 | 15.65 | 20.76 | 319132 | 0.02 | 0.25 | 1.45 | 4.47 | 5.54 |
| 2022 | 17597 | 14.98 | 19.67 | 295506 | 0.03 | 0.25 | 1.45 | (10.73) | (9.81) |
| 2021 | 14817 | 16.78 | 21.81 | 281682 | 0.02 | 0.25 | 1.45 | 19.86 | 21.23 |
|  Franklin Income VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 24373 | 12.07 | 14.87 | 295880 | 5.02 | 0.25 | 1.25 | 7.86 | 8.94 |
| 2024 | 23739 | 11.19 | 13.65 | 267186 | 0.05 | 0.25 | 1.25 | 2.75 | 3.80 |
| 2023 | 25217 | 10.89 | 13.15 | 276131 | 0.05 | 0.25 | 1.45 | 4.11 | 5.12 |
| 2022 | 25691 | 10.46 | 12.51 | 272194 | 0.04 | 0.25 | 1.45 | (9.44) | (8.49) |
| 2021 | 20603 | 11.55 | 13.67 | 239942 | 0.04 | 0.25 | 1.45 | 11.70 | 13.07 |
|  Franklin Large Cap Growth VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 15284 | 25.24 | 33.06 | 385807 |  | 0.25 | 1.25 | 2.73 | 3.77 |
| 2024 | 18136 | 24.57 | 31.86 | 464911 |  | 0.25 | 1.25 | 20.97 | 22.26 |
| 2023 | 19632 | 20.31 | 26.06 | 413517 |  | 0.25 | 1.45 | 34.68 | 35.94 |
| 2022 | 18003 | 15.08 | 19.17 | 281847 |  | 0.25 | 1.45 | (39.17) | (38.54) |
| 2021 | 724 | 24.79 | 24.79 | 17943 |  | 1.45 | 1.45 | 10.23 | 10.23 |
|  Franklin Mutual Global Discovery VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 9494 | 14.57 | 18.86 | 168542 | 1.94 | 0.25 | 1.25 | 18.17 | 19.44 |
| 2024 | 9232 | 12.33 | 15.79 | 137554 | 0.02 | 0.25 | 1.25 | 0.33 | 1.28 |
| 2023 | 8977 | 12.29 | 15.59 | 132310 | 0.03 | 0.25 | 1.45 | 15.29 | 16.43 |
| 2022 | 8729 | 10.66 | 13.39 | 110707 | 0.01 | 0.25 | 1.45 | (8.73) | (7.78) |
| 2021 | 8489 | 11.68 | 14.52 | 117000 | 0.02 | 0.25 | 1.45 | 13.95 | 15.33 |
|  Franklin Mutual Shares VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 4353 | 17.53 | 17.53 | 76316 | 2.05 | 0.25 | 0.25 | 7.94 | 7.94 |
| 2024 | 4229 | 12.42 | 16.24 | 68676 | 0.02 | 0.25 | 1.25 | 6.70 | 7.69 |
| 2023 | 5714 | 11.64 | 15.08 | 80639 | 0.02 | 0.25 | 1.45 | 8.68 | 9.83 |
| 2022 | 4751 | 10.71 | 13.73 | 62925 | 0.02 | 0.25 | 1.45 | (11.27) | (10.38) |
| 2021 | 4620 | 12.07 | 15.32 | 68370 | 0.03 | 0.25 | 1.45 | 13.98 | 15.36 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Franklin Rising Dividends VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 30449 | 20.85 | 29.32 | 819351 | 0.81 | 0.25 | 1.25 | 7.14 | 8.19 |
| 2024 | 29644 | 19.46 | 27.10 | 738808 | 0.01 | 0.25 | 1.25 | 6.16 | 7.24 |
| 2023 | 33434 | 18.33 | 25.27 | 755987 | 0.01 | 0.25 | 1.45 | 7.44 | 8.50 |
| 2022 | 26454 | 17.06 | 23.29 | 538620 | 0.01 | 0.25 | 1.45 | (14.31) | (13.39) |
| 2021 | 21634 | 19.91 | 26.89 | 525728 | 0.01 | 0.25 | 1.45 | 21.33 | 22.73 |
|  Franklin Small Cap Value VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 8014 | 15.71 | 20.88 | 139200 | 1.71 | 0.25 | 1.25 | 3.15 | 4.19 |
| 2024 | 29182 | 15.23 | 20.04 | 526387 | 0.01 | 0.25 | 1.25 | 7.03 | 8.15 |
| 2023 | 29507 | 14.23 | 18.53 | 493008 | 0.00 | 0.25 | 1.45 | 8.05 | 9.13 |
| 2022 | 29865 | 13.17 | 16.98 | 455822 | 0.01 | 0.25 | 1.45 | (13.75) | (12.92) |
| 2021 | 29085 | 15.27 | 19.50 | 511740 | 0.01 | 0.25 | 1.45 | 19.86 | 21.42 |
|  Franklin Small-Mid Cap Growth VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 16307 | 17.75 | 41.88 | 327082 |  | 0.25 | 1.45 | (1.99) | (0.76) |
| 2024 | 18118 | 18.07 | 42.20 | 379198 |  | 0.25 | 1.45 | 6.18 | 7.46 |
| 2023 | 22388 | 16.98 | 39.27 | 446774 |  | 0.25 | 1.45 | 21.21 | 22.72 |
| 2022 | 26007 | 16.41 | 32.00 | 428726 |  | 0.25 | 1.45 | (36.54) | (35.79) |
| 2021 | 19565 | 25.86 | 49.84 | 515122 |  | 0.25 | 1.45 | 5.21 | 6.50 |
|  Franklin Strategic Income VIP Fund 2025 |  | 7.88 | 7.88 |  | 9.95 | 1.25 | 1.25 | 2.74 | 2.74 |
| 2024 | 4366 | 7.67 | 7.67 | 33475 | 0.04 | 1.25 | 1.25 | (0.26) | (0.26) |
| 2023 | 4245 | 7.69 | 7.69 | 32655 | 0.05 | 1.25 | 1.45 | 3.64 | 3.64 |
| 2022 | 4128 | 7.42 | 7.42 | 30627 | 0.04 | 1.45 | 1.45 | (14.52) | (14.52) |
| 2021 | 4014 | 8.68 | 8.68 | 34823 | 0.03 | 1.45 | 1.45 | (2.25) | (2.25) |
|  Franklin U.S. Government Securities VIP Fund 2025 | 17408 | 6.75 | 7.41 | 120157 | 3.96 | 0.25 | 1.25 | 2.27 | 3.20 |
| 2024 | 64743 | 6.60 | 7.18 | 457234 | 0.03 | 0.25 | 1.25 | (2.94) | (1.78) |
| 2023 | 46266 | 6.80 | 7.31 | 331525 | 0.03 | 0.25 | 1.45 | 0.15 | 1.11 |
| 2022 | 44982 | 6.79 | 7.23 | 319634 | 0.03 | 0.25 | 1.45 | (13.50) | (12.68) |
| 2021 | 37528 | 7.85 | 8.28 | 307387 | 0.02 | 0.25 | 1.45 | (6.10) | (4.94) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Goldman Sachs VIT International Equity Insights |  |  |  |  |  |  |  |  |  |
| 2025 | 724 | 12.93 | 14.89 | 10837 | 2.52 | 0.25 | 1.25 | 32.34 | 33.66 |
| 2024 | 704 | 11.14 | 11.14 | 7880 | 0.03 | 0.25 | 0.25 | 2.48 | 2.48 |
| 2023 | 685 | 10.87 | 10.87 | 7480 | 0.02 | 0.25 | 0.25 | 14.66 | 14.66 |
| 2022 | 666 | 9.48 | 9.48 | 6345 | 0.02 | 0.25 | 0.25 | (16.48) | (16.48) |
| 2021 | 1091 | 11.35 | 11.35 | 12410 | 0.03 | 0.25 | 0.25 | 8.20 | 8.20 |
|  Goldman Sachs VIT Mid Cap Growth Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 31245 | 20.45 | 27.23 | 823882 |  | 0.25 | 1.25 | 2.87 | 3.93 |
| 2024 | 16249 | 19.88 | 26.20 | 401382 |  | 0.25 | 1.25 | 15.25 | 16.39 |
| 2023 | 16131 | 17.25 | 22.51 | 343285 |  | 0.25 | 1.45 | 13.56 | 14.67 |
| 2022 | 16079 | 15.19 | 19.63 | 299339 |  | 0.25 | 1.45 | (29.38) | (28.62) |
| 2021 | 16055 | 21.51 | 27.50 | 420191 |  | 0.25 | 1.45 | 6.64 | 7.89 |
|  Goldman Sachs VIT Mid Cap Value |  |  |  |  |  |  |  |  |  |
| 2025 | 13010 | 16.46 | 21.74 | 230128 | 0.91 | 0.25 | 1.25 | 4.57 | 5.64 |
| 2024 | 13453 | 15.74 | 20.58 | 229915 | 0.01 | 0.25 | 1.25 | 7.44 | 8.54 |
| 2023 | 13508 | 14.65 | 18.96 | 215393 | 0.01 | 0.25 | 1.45 | 6.55 | 7.60 |
| 2022 | 11297 | 13.75 | 17.62 | 157394 | 0.00 | 0.25 | 1.45 | (13.95) | (13.12) |
| 2021 | 10447 | 15.98 | 15.98 | 166842 | 0.00 | 1.45 | 1.45 | 24.84 | 24.84 |
|  Guggenheim VIF Floating Rate Strategies |  |  |  |  |  |  |  |  |  |
| 2025 | 16939 | 9.17 | 10.34 | 157349 | 9.00 | 0.25 | 1.25 | (0.76) | 0.29 |
| 2024 | 16552 | 9.24 | 10.31 | 154730 | 0.07 | 0.25 | 1.25 | 2.33 | 3.41 |
| 2023 | 18816 | 9.03 | 9.97 | 171377 | 0.04 | 0.25 | 1.45 | 6.49 | 7.55 |
| 2022 | 18394 | 8.48 | 9.27 | 157165 | 0.02 | 0.25 | 1.45 | (4.93) | (4.04) |
| 2021 | 18004 | 8.92 | 9.66 | 161741 | 0.02 | 0.25 | 1.45 | (1.98) | (0.72) |
|  Guggenheim VIF Global Managed Futures Strategy |  |  |  |  |  |  |  |  |  |
| 2025 | 10684 | 5.19 | 7.38 | 58931 | 1.83 | 0.25 | 1.25 | (0.67) | 0.39 |
| 2024 | 11193 | 5.17 | 7.43 | 61397 | 0.03 | 0.25 | 1.25 | (3.88) | (2.82) |
| 2023 | 11134 | 5.32 | 7.73 | 62910 | 0.03 | 0.25 | 1.45 | (0.51) | 0.38 |
| 2022 | 11986 | 5.30 | 7.77 | 67137 | 0.02 | 0.25 | 1.45 | 6.73 | 7.72 |
| 2021 | 11133 | 4.92 | 7.28 | 58144 |  | 0.25 | 1.45 | (3.58) | (2.19) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Guggenheim VIF High Yield |  |  |  |  |  |  |  |  |  |
| 2025 | 2763 | 10.14 | 10.14 | 28023 | 7.94 | 1.25 | 1.25 | 2.42 | 2.42 |
| 2024 | 1879 | 9.90 | 11.78 | 18623 | 0.06 | 0.25 | 1.25 | 3.13 | 4.16 |
| 2023 | 2029 | 9.60 | 11.31 | 19833 | 0.07 | 0.25 | 1.45 | 7.38 | 8.44 |
| 2022 | 2713 | 8.94 | 10.43 | 25663 | 0.06 | 0.25 | 1.45 | (13.54) | (12.57) |
| 2021 | 2642 | 10.34 | 11.93 | 28766 | 0.05 | 0.25 | 1.45 | 0.88 | 1.97 |
|  Guggenheim VIF Multi-Hedge Strategies |  |  |  |  |  |  |  |  |  |
| 2025 | 2104 | 5.18 | 7.23 | 14689 | 2.08 | 1.25 | 1.30 | (3.08) | (3.00) |
| 2024 | 2451 | 5.34 | 7.46 | 17653 | 0.06 | 0.25 | 1.30 | (7.77) | (6.73) |
| 2023 | 17459 | 5.79 | 8.08 | 125660 | 0.03 | 0.25 | 1.45 |  | 1.06 |
| 2022 | 28085 | 6.62 | 8.07 | 195023 | 0.01 | 0.25 | 1.45 | (7.45) | (6.50) |
| 2021 | 41952 | 7.08 | 8.72 | 295762 |  | 0.25 | 1.45 | 3.32 | 4.58 |
|  Guggenheim VIF Total Return Bond |  |  |  |  |  |  |  |  |  |
| 2025 | 143215 | 8.82 | 9.79 | 1385953 | 3.98 | 0.25 | 1.25 | 3.04 | 4.04 |
| 2024 | 124154 | 8.56 | 9.41 | 1153882 | 0.04 | 0.25 | 1.25 | (1.27) | (0.21) |
| 2023 | 112794 | 8.67 | 9.43 | 1050646 | 0.02 | 0.25 | 1.45 | 2.48 | 3.63 |
| 2022 | 41970 | 8.46 | 9.10 | 366142 | 0.03 | 0.25 | 1.45 | (19.58) | (18.89) |
| 2021 | 42506 | 10.52 | 11.22 | 459877 | 0.02 | 0.25 | 1.45 | (4.80) | (3.61) |
|  Invesco V.I. American Franchise Series I |  |  |  |  |  |  |  |  |  |
| 2025 | 5194 | 23.45 | 23.45 | 122380 |  | 1.45 | 1.45 | 6.79 | 6.79 |
| 2024 | 5056 | 21.96 | 21.96 | 111046 |  | 1.45 | 1.45 | 29.02 | 29.02 |
| 2023 | 5867 | 17.02 | 17.02 | 100400 |  | 1.45 | 1.45 | 34.76 | 34.76 |
| 2022 | 4653 | 12.63 | 12.63 | 58803 |  | 1.45 | 1.45 | (34.08) | (34.08) |
| 2021 | 4551 | 19.16 | 19.16 | 87501 |  | 1.45 | 1.45 | 7.04 | 7.04 |
|  Invesco V.I. American Value |  |  |  |  |  |  |  |  |  |
| 2025 | 990 | 19.66 | 19.66 | 19464 | 0.21 | 1.25 | 1.25 | 15.72 | 15.72 |
| 2024 | 963 | 16.99 | 16.99 | 16355 | 0.01 | 1.25 | 1.25 | 24.65 | 24.65 |
| 2023 | 936 | 13.63 | 13.63 | 12756 | 0.00 | 1.25 | 1.45 | 10.54 | 10.54 |
| 2022 | 911 | 12.33 | 12.33 | 11227 | 0.00 | 1.45 | 1.45 | (6.87) | (6.87) |
| 2021 | 1094 | 13.24 | 13.24 | 14484 | 0.00 | 1.45 | 1.45 | 22.03 | 22.03 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Invesco V.I. Balanced-Risk Allocation |  |  |  |  |  |  |  |  |  |
| 2025 | 1669 | 10.74 | 10.74 | 17924 | 6.87 | 0.25 | 0.25 | 5.19 | 5.19 |
| 2024 | 1623 | 10.21 | 10.21 | 16565 | 0.04 | 0.25 | 0.25 | 0.20 | 0.20 |
| 2023 | 3098 | 10.19 | 10.19 | 31550 |  | 0.25 | 0.25 | 3.03 | 3.03 |
| 2022 | 2874 | 9.89 | 9.89 | 28416 | 0.07 | 0.25 | 0.25 | (17.24) | (17.24) |
| 2021 | 2865 | 11.95 | 11.95 | 34234 | 0.03 | 0.25 | 0.25 | 5.75 | 5.75 |
|  Invesco V.I. Comstock |  |  |  |  |  |  |  |  |  |
| 2025 | 232 | 19.62 | 19.62 | 4552 | 2.72 | 1.25 | 1.25 | 12.24 | 12.24 |
| 2024 |  | 17.48 | 17.48 |  | 0.01 | 1.25 | 1.25 | 10.08 | 10.08 |
| 2023 | 19168 | 15.88 | 15.88 | 304337 | 0.02 | 1.25 | 1.45 | 7.44 | 7.44 |
| 2022 | 19071 | 14.78 | 14.78 | 281850 | 0.02 | 1.45 | 1.45 | (3.34) | (3.34) |
| 2021 | 6430 | 15.29 | 15.29 | 98324 | 0.03 | 1.45 | 1.45 | 27.31 | 27.31 |
|  Invesco V.I. Core Equity |  |  |  |  |  |  |  |  |  |
| 2025 | 3828 | 25.38 | 25.38 | 97137 | 0.42 | 0.25 | 0.25 | 12.15 | 12.15 |
| 2024 | 3714 | 22.63 | 22.63 | 84031 | 0.01 | 0.25 | 0.25 | 21.28 | 21.28 |
| 2023 | 3604 | 18.66 | 18.66 | 67239 | 0.00 | 0.25 | 0.25 | 19.16 | 19.16 |
| 2022 | 3498 | 15.66 | 15.66 | 54764 | 0.01 | 0.25 | 0.25 | (23.27) | (23.27) |
| 2021 | 3395 | 20.41 | 20.41 | 69279 | 0.00 | 0.25 | 0.25 | 23.32 | 23.32 |
|  Invesco V.I. Discovery Mid Cap Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 275 | 18.57 | 18.57 | 5106 |  | 1.25 | 1.25 | 0.16 | 0.16 |
| 2024 | 267 | 18.54 | 18.54 | 4957 |  | 1.25 | 1.25 | 18.77 | 18.77 |
| 2023 | 1333 | 15.61 | 15.61 | 20807 |  | 1.25 | 1.45 | 8.10 | 8.10 |
| 2022 | 680 | 14.44 | 14.44 | 9810 |  | 1.45 | 1.45 | (33.97) | (33.97) |
| 2021 | 415 | 21.87 | 21.87 | 9076 |  | 1.45 | 1.45 | 13.67 | 13.67 |
|  Invesco V.I. Equally-Weighted S&P 500 |  |  |  |  |  |  |  |  |  |
| 2025 | 27710 | 11.71 | 12.15 | 334575 | 2.56 | 0.25 | 1.25 | 6.17 | 7.24 |
| 2024 | 1651 | 11.03 | 11.33 | 18216 | 0.25 | 0.25 | 1.25 | 7.82 | 8.84 |
| 2023 | 1606 | 10.23 | 10.23 | 16435 | 0.01 | 1.25 | 1.45 | 8.71 | 8.71 |
| 2022 | 1562 | 9.41 | 9.41 | 14701 | 0.02 | 1.45 | 1.45 | (5.90) | (5.90) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Invesco V.I. Equity and Income |  |  |  |  |  |  |  |  |  |
| 2025 | 1791 | 14.95 | 14.95 | 26750 | 1.88 | 1.25 | 1.25 | 7.86 | 7.86 |
| 2024 | 1742 | 13.86 | 13.86 | 24123 | 0.01 | 1.25 | 1.25 | 7.19 | 7.19 |
| 2023 | 5508 | 12.93 | 12.93 | 71190 | 0.02 | 1.25 | 1.45 | 5.64 | 5.64 |
| 2022 | 5614 | 12.24 | 12.24 | 68688 | 0.01 | 1.45 | 1.45 | (11.50) | (11.50) |
| 2021 | 5713 | 13.83 | 13.83 | 79021 | 0.02 | 1.45 | 1.45 | 13.18 | 13.18 |
|  Invesco V.I. EVQ International Equity Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 19684 | 10.82 | 12.08 | 216439 | 1.21 | 0.25 | 1.25 | 11.31 | 12.48 |
| 2024 | 21073 | 9.71 | 10.74 | 207930 | 0.02 | 0.25 | 1.25 | (3.78) | (2.89) |
| 2023 | 22814 | 10.09 | 11.06 | 232930 |  | 0.25 | 1.45 | 12.93 | 14.14 |
| 2022 | 35869 | 9.36 | 9.69 | 323540 | 0.01 | 0.25 | 1.45 | (21.87) | (21.09) |
| 2021 | 36583 | 11.98 | 12.28 | 421278 | 0.01 | 0.25 | 1.45 | 1.01 | 2.25 |
|  Invesco V.I. Global |  |  |  |  |  |  |  |  |  |
| 2025 | 5735 | 18.96 | 23.48 | 118535 |  | 0.25 | 1.25 | 10.17 | 11.33 |
| 2024 | 8226 | 17.21 | 21.09 | 159973 |  | 0.25 | 1.25 | 10.96 | 12.06 |
| 2023 | 8016 | 15.51 | 18.82 | 139596 |  | 0.25 | 1.45 | 28.93 | 30.15 |
| 2022 | 7816 | 12.03 | 14.46 | 104958 |  | 0.25 | 1.45 | (34.76) | (34.06) |
| 2021 | 7621 | 18.44 | 21.93 | 155884 |  | 0.25 | 1.45 | 10.16 | 11.49 |
|  Invesco V.I. Global Real Estate |  |  |  |  |  |  |  |  |  |
| 2025 | 1728 | 10.07 | 10.07 | 17459 | 1.82 | 0.25 | 0.25 | 4.14 | 4.14 |
| 2024 | 1879 | 9.67 | 9.67 | 18168 | 0.02 | 0.25 | 0.25 | (5.20) | (5.20) |
| 2023 | 3227 | 10.20 | 10.20 | 32989 | 0.01 | 0.25 | 0.25 | 5.26 | 5.26 |
| 2022 | 3237 | 9.69 | 9.69 | 31340 | 0.03 | 0.25 | 0.25 | (27.47) | (27.47) |
| 2021 | 3124 | 13.36 | 13.36 | 41732 | 0.03 | 0.25 | 0.25 | 21.45 | 21.45 |
|  Invesco V.I. Global Strategic Income |  |  |  |  |  |  |  |  |  |
| 2025 | 14440 | 7.69 | 8.79 | 111844 | 5.44 | 0.25 | 1.25 | 8.01 | 9.06 |
| 2024 | 14061 | 7.12 | 8.06 | 100731 | 0.03 | 0.25 | 1.25 | (1.52) | (0.49) |
| 2023 | 16108 | 7.23 | 8.10 | 116994 |  | 0.25 | 1.45 | 4.18 | 5.19 |
| 2022 | 15418 | 6.94 | 7.70 | 108313 |  | 0.25 | 1.45 | (15.47) | (14.54) |
| 2021 | 15028 | 8.21 | 9.01 | 124630 | 0.04 | 0.25 | 1.45 | (7.75) | (6.73) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Invesco V.I. Government Securities |  |  |  |  |  |  |  |  |  |
| 2025 | 78 | 6.40 | 6.40 | 498 | 2.60 | 1.30 | 1.30 | 2.40 | 2.40 |
| 2024 | 93 | 6.25 | 6.25 | 580 | 0.32 | 1.30 | 1.30 | (2.80) | (2.80) |
| 2023 | 128 | 6.43 | 6.43 | 822 | 0.01 | 1.30 | 1.30 | 0.16 | 0.16 |
| 2022 | 208 | 6.42 | 6.42 | 1339 | 0.02 | 1.30 | 1.30 | (14.40) | (14.40) |
| 2021 | 281 | 7.50 | 7.50 | 2112 | 0.02 | 1.30 | 1.30 | (6.60) | (6.60) |
|  Invesco V.I. Health Care |  |  |  |  |  |  |  |  |  |
| 2025 | 4692 | 14.71 | 22.13 | 69187 |  | 0.25 | 1.25 | 10.27 | 11.43 |
| 2024 | 4569 | 13.34 | 13.34 | 61038 |  | 1.25 | 1.25 | (0.45) | (0.45) |
| 2023 | 4445 | 13.40 | 13.40 | 59667 |  | 1.25 | 1.45 | (1.54) | (1.54) |
| 2022 | 4326 | 13.61 | 13.61 | 58957 |  | 1.45 | 1.45 | (17.11) | (17.11) |
| 2021 | 1615 | 16.42 | 16.42 | 26615 |  | 1.45 | 1.45 | 7.18 | 7.18 |
|  Invesco V.I. International Growth Fund (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 9787 | 10.44 | 13.19 | 120457 | 0.06 | 0.25 | 1.25 | 10.71 | 11.78 |
| 2024 | 10471 | 9.43 | 11.80 | 116268 |  | 0.25 | 1.25 | (5.89) | (4.92) |
| 2023 | 12418 | 10.02 | 12.41 | 147254 | 0.00 | 0.25 | 1.45 | 15.57 | 16.75 |
| 2022 | 36103 | 8.67 | 10.63 | 377835 |  | 0.25 | 1.45 | (30.19) | (29.46) |
| 2021 | 36430 | 12.42 | 15.07 | 540505 |  | 0.25 | 1.45 | 5.34 | 6.58 |
|  Invesco V.I. Main Street Mid Cap Fund<sup>®</sup> |  |  |  |  |  |  |  |  |  |
| 2025 | 6714 | 14.99 | 18.89 | 108454 | 0.11 | 0.25 | 1.25 | 4.46 | 5.47 |
| 2024 | 6196 | 14.35 | 17.91 | 95492 |  | 0.25 | 1.25 | 11.93 | 13.07 |
| 2023 | 7044 | 12.82 | 15.84 | 97246 | 0.00 | 0.25 | 1.45 | 9.39 | 10.46 |
| 2022 | 6258 | 11.72 | 14.34 | 78651 | 0.00 | 0.25 | 1.45 | (17.98) | (17.16) |
| 2021 | 2084 | 15.73 | 17.31 | 34176 | 0.00 | 0.25 | 1.20 | 17.83 | 18.97 |
|  Invesco V.I. Main Street Small Cap Fund<sup>®</sup> |  |  |  |  |  |  |  |  |  |
| 2025 | 14670 | 18.18 | 21.12 | 288778 | 0.23 | 1.25 | 1.25 | 3.89 | 3.89 |
| 2024 | 14149 | 17.50 | 20.33 | 268302 |  | 1.25 | 1.25 | 7.74 | 7.76 |
| 2023 | 15644 | 16.24 | 20.96 | 277920 | 0.01 | 0.25 | 1.45 | 12.86 | 14.10 |
| 2022 | 37861 | 14.39 | 18.37 | 649173 | 0.00 | 0.25 | 1.45 | (19.47) | (18.72) |
| 2021 | 38170 | 17.87 | 22.60 | 810007 | 0.00 | 0.25 | 1.45 | 16.95 | 18.32 |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Invesco V.I. Small Cap Equity |  |  |  |  |  |  |  |  |  |
| 2025 | 2941 | 15.21 | 15.21 | 44719 |  | 1.25 | 1.25 | 3.33 | 3.33 |
| 2024 | 2857 | 14.72 | 18.77 | 42036 |  | 0.25 | 1.25 | 12.97 | 14.10 |
| 2023 | 4085 | 13.03 | 16.45 | 57715 |  | 0.25 | 1.45 | 11.37 | 12.52 |
| 2022 | 4035 | 11.70 | 14.62 | 51097 |  | 0.25 | 1.45 | (23.98) | (23.25) |
| 2021 | 3817 | 15.39 | 19.05 | 63099 |  | 0.25 | 1.45 | 14.85 | 16.30 |
|  Janus Henderson VIT Enterprise |  |  |  |  |  |  |  |  |  |
| 2025 | 11431 | 24.30 | 32.64 | 300160 | 0.05 | 0.25 | 1.25 | 2.92 | 3.95 |
| 2024 | 11914 | 23.61 | 31.40 | 292762 | 0.01 | 0.25 | 1.25 | 10.53 | 11.66 |
| 2023 | 13596 | 21.36 | 28.12 | 300307 | 0.00 | 0.25 | 1.45 | 12.90 | 13.98 |
| 2022 | 14661 | 18.92 | 24.67 | 292642 | 0.00 | 0.25 | 1.45 | (19.66) | (18.80) |
| 2021 | 14416 | 23.55 | 30.38 | 356532 | 0.00 | 0.25 | 1.45 | 11.51 | 12.81 |
|  Janus Henderson VIT Forty |  |  |  |  |  |  |  |  |  |
| 2025 | 8060 | 35.59 | 35.59 | 286905 |  | 1.25 | 1.25 | 12.91 | 12.91 |
| 2024 | 2600 | 31.52 | 31.52 | 81952 |  | 1.25 | 1.25 | 22.79 | 22.79 |
| 2023 | 339 | 25.67 | 25.67 | 8690 | 0.00 | 1.25 | 1.45 | 33.84 | 33.84 |
| 2022 | 329 | 19.18 | 19.18 | 6313 | 0.00 | 1.45 | 1.45 | (36.45) | (36.45) |
| 2021 | 320 | 30.18 | 30.18 | 9665 |  | 1.45 | 1.45 | 17.25 | 17.25 |
|  Janus Henderson VIT Overseas |  |  |  |  |  |  |  |  |  |
| 2025 | 45359 | 10.03 | 12.27 | 467014 | 1.34 | 0.25 | 1.25 | 23.19 | 24.44 |
| 2024 | 42800 | 8.06 | 9.96 | 354834 | 0.01 | 0.25 | 1.25 | 1.12 | 2.15 |
| 2023 | 40665 | 7.89 | 9.85 | 330597 | 0.01 | 0.25 | 1.45 | 6.03 | 7.06 |
| 2022 | 9559 | 7.37 | 9.29 | 79800 | 0.02 | 0.25 | 1.45 | (12.61) | (11.74) |
| 2021 | 6594 | 8.35 | 10.63 | 65880 | 0.01 | 0.25 | 1.45 | 8.36 | 9.72 |
|  Janus Henderson VIT Research |  |  |  |  |  |  |  |  |  |
| 2025 | 2905 | 32.79 | 42.97 | 115933 |  | 0.25 | 1.25 | 13.15 | 14.31 |
| 2024 | 3402 | 28.98 | 37.59 | 120562 |  | 0.25 | 1.25 | 29.32 | 30.61 |
| 2023 | 3308 | 22.41 | 28.78 | 89924 | 0.00 | 0.25 | 1.45 | 36.90 | 38.23 |
| 2022 | 2661 | 16.37 | 20.82 | 51807 |  | 0.25 | 1.45 | (32.96) | (32.27) |
| 2021 | 2773 | 24.42 | 30.74 | 80296 | 0.00 | 0.25 | 1.45 | 14.81 | 16.22 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Lord Abbett Series Bond-Debenture VC |  |  |  |  |  |  |  |  |  |
| 2025 | 35398 | 9.82 | 12.10 | 354855 | 5.85 | 0.25 | 1.25 | 3.81 | 4.85 |
| 2024 | 36583 | 9.46 | 11.54 | 352945 | 0.05 | 0.25 | 1.25 | 2.27 | 3.31 |
| 2023 | 40930 | 9.25 | 11.17 | 393874 | 0.05 | 0.25 | 1.45 | 2.10 | 3.14 |
| 2022 | 43396 | 9.06 | 10.83 | 411428 | 0.04 | 0.25 | 1.45 | (16.42) | (15.59) |
| 2021 | 41834 | 10.84 | 12.83 | 472128 | 0.03 | 0.25 | 1.45 | (1.19) | (0.08) |
|  Lord Abbett Series Developing Growth VC |  |  |  |  |  |  |  |  |  |
| 2025 | 5273 | 18.36 | 25.41 | 106694 | 0.18 | 0.25 | 1.25 | 9.87 | 10.91 |
| 2024 | 5296 | 16.71 | 22.91 | 97890 |  | 0.25 | 1.25 | 17.02 | 18.28 |
| 2023 | 5481 | 14.28 | 19.37 | 87470 |  | 0.25 | 1.45 | 3.70 | 4.70 |
| 2022 | 5458 | 13.77 | 18.50 | 83984 |  | 0.25 | 1.45 | (38.64) | (38.00) |
| 2021 | 5319 | 22.44 | 29.84 | 132822 |  | 0.25 | 1.45 | (6.97) | (5.87) |
|  Lord Abbett Series Growth and Income VC |  |  |  |  |  |  |  |  |  |
| 2025 | 6801 | 19.20 | 19.20 | 130576 | 0.58 | 1.25 | 1.25 | 12.41 | 12.41 |
| 2024 | 6629 | 17.08 | 17.08 | 113222 | 0.01 | 1.25 | 1.25 | 15.56 | 15.56 |
| 2023 | 6469 | 14.78 | 14.78 | 95596 | 0.01 | 1.25 | 1.45 | 8.52 | 8.52 |
| 2022 | 6313 | 13.62 | 13.62 | 85998 | 0.01 | 1.45 | 1.45 | (13.25) | (13.25) |
| 2021 | 6161 | 15.70 | 15.70 | 96686 | 0.01 | 1.45 | 1.45 | 23.43 | 23.43 |
|  Lord Abbett Series Growth Opportunities VC |  |  |  |  |  |  |  |  |  |
| 2025 | 1032 | 19.27 | 23.12 | 22118 |  | 0.25 | 1.25 | 8.26 | 9.31 |
| 2024 |  | 21.15 | 21.15 |  |  | 0.25 | 0.25 | 26.42 | 26.42 |
| 2023 | 809 | 16.73 | 16.73 | 13544 |  | 0.25 | 0.25 | 7.17 | 7.17 |
| 2022 | 2404 | 15.61 | 15.61 | 37534 |  | 0.25 | 0.25 | (34.69) | (34.69) |
| 2021 | 2358 | 23.90 | 23.90 | 56358 |  | 0.25 | 0.25 | 3.06 | 3.06 |
|  LVIP American Century Disciplined Core Value |  |  |  |  |  |  |  |  |  |
| 2025 | 3452 | 25.23 | 25.23 | 87168 | 1.46 | 0.25 | 0.25 | 10.90 | 10.90 |
| 2024 | 3527 | 16.18 | 22.75 | 80224 | 0.01 | 0.25 | 1.25 | 8.16 | 9.27 |
| 2023 | 10347 | 14.96 | 20.82 | 191297 | 0.01 | 0.25 | 1.45 | 3.74 | 4.78 |
| 2022 | 10273 | 14.42 | 19.87 | 181278 | 0.01 | 0.25 | 1.45 | (16.45) | (15.63) |
| 2021 | 10153 | 17.26 | 23.55 | 212955 | 0.01 | 0.25 | 1.45 | 17.98 | 19.42 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  LVIP American Century Inflation Protection |  |  |  |  |  |  |  |  |  |
| 2025 | 6076 | 7.81 | 7.81 | 47423 | 7.38 | 0.25 | 0.25 | 3.03 | 3.03 |
| 2024 | 6048 | 7.58 | 7.58 | 45864 | 0.04 | 0.25 | 0.25 | (1.69) | (1.69) |
| 2023 | 6020 | 7.71 | 7.71 | 46445 | 0.03 | 0.25 | 0.25 |  |  |
| 2022 | 6011 | 7.71 | 7.71 | 46335 | 0.05 | 0.25 | 0.25 | (15.83) | (15.83) |
| 2021 | 6002 | 9.16 | 9.16 | 54985 | 0.03 | 0.25 | 0.25 | 2.81 | 2.81 |
|  LVIP American Century International |  |  |  |  |  |  |  |  |  |
| 2025 | 3064 | 11.25 | 11.25 | 34486 | 1.13 | 1.25 | 1.25 | 10.95 | 10.95 |
| 2024 | 2977 | 10.14 | 10.14 | 30183 | 0.01 | 1.25 | 1.25 | (1.84) | (1.84) |
| 2023 | 5031 | 10.33 | 10.33 | 51958 | 0.01 | 1.25 | 1.45 | 7.83 | 7.83 |
| 2022 | 4892 | 9.58 | 9.58 | 46892 | 0.01 | 1.45 | 1.45 | (28.02) | (28.02) |
| 2021 | 4758 | 13.31 | 13.31 | 63319 | 0.00 | 1.45 | 1.45 | 3.90 | 3.90 |
|  LVIP American Century Mid Cap Value (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 23486 | 16.78 | 23.30 | 542491 | 2.96 | 0.25 | 1.25 | 4.29 | 5.33 |
| 2024 | 2371 | 16.09 | 22.12 | 46952 | 0.02 | 0.25 | 1.25 | 4.01 | 5.03 |
| 2023 | 2509 | 15.47 | 21.06 | 47700 | 0.02 | 0.25 | 1.45 | 1.58 | 2.68 |
| 2022 | 3203 | 15.23 | 20.51 | 60615 | 0.02 | 0.25 | 1.45 | (5.46) | (4.56) |
| 2021 | 3179 | 16.11 | 21.49 | 62921 | 0.01 | 0.25 | 1.45 | 17.68 | 19.12 |
|  LVIP American Century Value |  |  |  |  |  |  |  |  |  |
| 2025 | 3554 | 17.62 | 24.75 | 74254 | 1.50 | 0.25 | 1.25 | 11.03 | 12.19 |
| 2024 | 3455 | 15.87 | 22.06 | 64679 | 0.03 | 0.25 | 1.25 | 4.75 | 5.75 |
| 2023 | 3360 | 15.15 | 20.86 | 59724 | 0.02 | 0.25 | 1.45 | 4.48 | 5.57 |
| 2022 | 3268 | 14.50 | 19.76 | 55287 | 0.02 | 0.25 | 1.45 | (3.91) | (2.90) |
| 2021 | 3178 | 15.09 | 20.35 | 55621 | 0.02 | 0.25 | 1.45 | 18.91 | 20.34 |
|  LVIP JPMorgan Core Bond Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 2461 | 7.34 | 7.34 | 18102 | 2.72 | 1.25 | 1.25 | 2.66 | 2.66 |
| 2024 | 3951 | 7.15 | 7.15 | 28248 | 0.04 | 1.25 | 1.25 | (2.72) | (2.72) |
| 2023 | 4140 | 7.35 | 7.96 | 30491 | 0.05 | 0.25 | 1.45 | 1.24 | 2.31 |
| 2022 | 12665 | 7.26 | 7.78 | 96347 | 0.02 | 0.25 | 1.45 | (16.46) | (15.53) |
| 2021 | 12929 | 8.69 | 9.21 | 116768 | 0.02 | 0.25 | 1.45 | (5.95) | (4.76) |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  LVIP JPMorgan Small Cap Core Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 3704 | 15.51 | 15.51 | 57470 | 0.42 | 1.25 | 1.25 | 5.44 | 5.44 |
| 2024 | 3788 | 14.71 | 14.71 | 55941 | 0.01 | 1.25 | 1.25 | 6.75 | 6.75 |
| 2023 | 3750 | 13.78 | 13.78 | 51665 | 0.01 | 1.25 | 1.45 | 8.16 | 8.16 |
| 2022 | 3714 | 12.74 | 12.74 | 47497 | 0.00 | 1.45 | 1.45 | (22.93) | (22.93) |
| 2021 | 3661 | 16.53 | 16.53 | 60536 | 0.00 | 1.45 | 1.45 | 15.84 | 15.84 |
|  LVIP JPMorgan US Equity Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 769 | 28.97 | 28.97 | 22285 | 0.27 | 1.25 | 1.25 | 9.49 | 9.49 |
| 2024 | 748 | 26.46 | 26.46 | 19791 |  | 1.25 | 1.25 | 18.50 | 18.50 |
| 2023 | 455 | 22.33 | 22.33 | 10151 | 0.01 | 1.25 | 1.45 | 21.56 | 21.56 |
| 2022 | 442 | 18.37 | 18.37 | 8119 | 0.00 | 1.45 | 1.45 | (22.23) | (22.23) |
| 2021 |  | 23.62 | 29.28 |  |  | 0.25 | 1.45 | 23.41 | 24.91 |
|  MFS<sup>®</sup> VIT Global Tactical Allocation |  |  |  |  |  |  |  |  |  |
| 2025 |  | 10.06 | 11.35 |  |  | 0.25 | 1.25 | 10.43 | 11.60 |
| 2024 |  | 9.11 | 9.11 |  |  | 1.25 | 1.25 | 0.33 | 0.33 |
| 2023 | 8232 | 9.08 | 9.08 | 74774 | 0.00 | 1.25 | 1.45 | 4.73 | 4.73 |
| 2022 | 7937 | 8.67 | 8.67 | 68798 | 0.01 | 1.45 | 1.45 | (11.26) | (11.26) |
| 2021 | 4321 | 9.77 | 9.77 | 42215 | 0.01 | 1.45 | 1.45 | (1.91) | (1.91) |
|  MFS<sup>®</sup> VIT II Research International |  |  |  |  |  |  |  |  |  |
| 2025 | 5705 | 11.60 | 11.60 | 66301 | 1.31 | 1.25 | 1.25 | 16.70 | 16.70 |
| 2024 | 5548 | 9.94 | 9.94 | 55252 | 0.01 | 1.25 | 1.25 | (1.58) | (1.58) |
| 2023 | 6023 | 10.10 | 10.10 | 60862 | 0.01 | 1.25 | 1.45 | 8.14 | 8.14 |
| 2022 | 5857 | 9.34 | 9.34 | 54732 | 0.01 | 1.45 | 1.45 | (21.18) | (21.18) |
| 2021 | 11111 | 11.85 | 11.85 | 131716 | 0.01 | 1.45 | 1.45 | 6.37 | 6.37 |
|  MFS<sup>®</sup> VIT International Intrinsic Value |  |  |  |  |  |  |  |  |  |
| 2025 | 11016 | 15.86 | 17.89 | 182626 | 1.37 | 0.25 | 1.25 | 27.39 | 28.71 |
| 2024 | 11191 | 12.45 | 13.90 | 144770 | 0.01 | 0.25 | 1.25 | 2.55 | 3.58 |
| 2023 | 11067 | 12.14 | 13.42 | 139081 | 0.01 | 0.25 | 1.45 | 12.41 | 13.54 |
| 2022 | 15323 | 10.80 | 11.82 | 173475 | 0.00 | 0.25 | 1.45 | (26.88) | (26.17) |
| 2021 | 21751 | 14.77 | 16.01 | 338913 | 0.00 | 0.25 | 1.45 | 5.42 | 6.80 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  MFS<sup>®</sup> VIT New Discovery |  |  |  |  |  |  |  |  |  |
| 2025 | 3306 | 16.18 | 20.46 | 62575 |  | 0.25 | 1.25 | 7.87 | 8.95 |
| 2024 | 18871 | 15.00 | 18.78 | 350061 |  | 0.25 | 1.25 | 1.97 | 3.07 |
| 2023 | 17932 | 14.71 | 18.22 | 322925 |  | 0.25 | 1.45 | 9.53 | 10.56 |
| 2022 | 3959 | 13.43 | 16.48 | 61983 |  | 0.25 | 1.45 | (32.92) | (32.21) |
| 2021 | 3569 | 20.02 | 24.31 | 82284 |  | 0.25 | 1.45 | (2.82) | (1.66) |
|  MFS<sup>®</sup> VIT Research |  |  |  |  |  |  |  |  |  |
| 2025 | 2445 | 23.18 | 23.18 | 56690 | 0.15 | 1.25 | 1.25 | 7.86 | 7.86 |
| 2024 | 2540 | 21.49 | 21.49 | 54602 |  | 1.25 | 1.25 | 13.58 | 13.58 |
| 2023 | 2644 | 18.92 | 18.92 | 50029 | 0.00 | 1.25 | 1.45 | 17.08 | 17.08 |
| 2022 | 2930 | 16.16 | 16.16 | 47375 | 0.00 | 1.45 | 1.45 | (20.86) | (20.86) |
| 2021 | 3055 | 20.42 | 20.42 | 62393 | 0.00 | 1.45 | 1.45 | 19.07 | 19.07 |
|  MFS<sup>®</sup> VIT Total Return |  |  |  |  |  |  |  |  |  |
| 2025 | 2542 | 13.49 | 13.49 | 34306 | 2.37 | 1.25 | 1.25 | 6.30 | 6.30 |
| 2024 | 2907 | 12.69 | 12.69 | 36905 | 0.02 | 1.25 | 1.25 | 3.00 | 3.00 |
| 2023 | 2863 | 12.32 | 12.32 | 35289 | 0.02 | 1.25 | 1.45 | 5.57 | 5.57 |
| 2022 | 3058 | 11.67 | 11.67 | 35690 | 0.01 | 1.45 | 1.45 | (13.56) | (13.56) |
| 2021 | 3109 | 13.50 | 13.50 | 41980 | 0.02 | 1.45 | 1.45 | 8.87 | 8.87 |
|  MFS<sup>®</sup> VIT Total Return Bond |  |  |  |  |  |  |  |  |  |
| 2025 |  | 8.97 | 8.97 |  |  | 0.25 | 0.25 | 3.46 | 3.46 |
| 2024 |  | 7.57 | 8.67 |  |  | 0.25 | 1.25 | (1.94) | (0.91) |
| 2023 |  | 7.72 | 8.92 |  |  | 0.25 | 1.25 | 2.66 | 3.72 |
| 2022 |  | 7.52 | 8.60 |  |  | 0.25 | 1.45 | (17.72) | (16.91) |
| 2021 |  | 9.14 | 10.16 |  |  | 0.25 | 1.45 | (5.38) | (4.24) |
|  MFS<sup>®</sup> VIT Utilities |  |  |  |  |  |  |  |  |  |
| 2025 | 2284 | 14.20 | 14.20 | 32419 | 2.76 | 1.25 | 1.25 | 9.99 | 9.99 |
| 2024 | 2208 | 12.91 | 17.04 | 28500 | 0.02 | 0.25 | 1.25 | 6.69 | 7.85 |
| 2023 | 2649 | 12.10 | 15.80 | 33418 | 0.04 | 0.25 | 1.45 | (6.42) | (5.50) |
| 2022 | 2542 | 12.93 | 16.72 | 34221 | 0.02 | 0.25 | 1.45 | (3.72) | (2.68) |
| 2021 | 2092 | 13.43 | 17.18 | 28074 | 0.00 | 0.25 | 1.45 | 8.92 | 10.13 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Morningstar Aggressive Growth ETF Asset Allocation Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 |  | 16.92 | 16.92 |  |  | 1.25 | 1.25 | 15.02 | 15.02 |
| 2024 | 1856 | 14.71 | 14.71 | 27314 | 0.01 | 1.25 | 1.25 | 9.78 | 9.78 |
| 2023 | 1809 | 13.40 | 13.40 | 24250 | 0.01 | 1.25 | 1.45 | 12.04 | 12.04 |
| 2022 | 2379 | 11.96 | 11.96 | 28460 | 0.01 | 1.45 | 1.45 | (16.77) | (16.77) |
| 2021 | 2320 | 14.37 | 14.37 | 33348 | 0.01 | 1.45 | 1.45 | 13.15 | 13.15 |
|  Morningstar Balanced ETF Asset Allocation Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 63010 | 12.52 | 14.46 | 795886 | 1.92 | 0.25 | 1.25 | 10.02 | 11.06 |
| 2024 | 88924 | 11.38 | 13.02 | 1013806 | 0.02 | 0.25 | 1.25 | 5.57 | 6.72 |
| 2023 | 90523 | 10.78 | 12.20 | 976981 | 0.02 | 0.25 | 1.45 | 8.12 | 9.22 |
| 2022 | 123318 | 9.97 | 11.17 | 1232258 | 0.02 | 0.25 | 1.45 | (16.50) | (15.70) |
| 2021 | 123775 | 11.94 | 13.25 | 1480767 | 0.01 | 0.25 | 1.45 | 6.04 | 7.29 |
|  Morningstar Conservative ETF Asset Allocation Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 89421 | 8.42 | 8.42 | 752161 | 2.62 | 1.25 | 1.25 | 4.34 | 4.34 |
| 2024 | 93201 | 8.07 | 8.07 | 752393 | 0.02 | 1.25 | 1.25 | 0.88 | 0.88 |
| 2023 | 96748 | 8.00 | 8.00 | 774087 | 0.02 | 1.25 | 1.45 | 3.36 | 3.36 |
| 2022 | 124542 | 7.74 | 7.74 | 964125 | 0.01 | 1.45 | 1.45 | (15.50) | (15.50) |
| 2021 | 125327 | 9.16 | 9.16 | 1148136 | 0.01 | 1.45 | 1.45 | (2.14) | (2.14) |
|  Morningstar Growth ETF Asset Allocation Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 13866 | 15.00 | 15.00 | 207700 | 1.19 | 1.25 | 1.25 | 13.04 | 13.04 |
| 2024 | 20504 | 13.27 | 13.27 | 271901 | 0.01 | 1.25 | 1.25 | 7.97 | 7.97 |
| 2023 | 22149 | 12.29 | 12.29 | 272071 | 0.01 | 1.25 | 1.45 | 10.42 | 10.42 |
| 2022 | 40937 | 11.13 | 11.13 | 455356 | 0.01 | 1.45 | 1.45 | (16.82) | (16.82) |
| 2021 | 41793 | 13.38 | 13.38 | 559097 | 0.01 | 1.45 | 1.45 | 9.85 | 9.85 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Morningstar Income and Growth ETF Asset Allocation Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 4206 | 10.35 | 11.96 | 46850 | 2.02 | 0.25 | 1.25 | 7.03 | 8.14 |
| 2024 | 5350 | 9.67 | 11.06 | 54524 | 0.02 | 0.25 | 1.25 | 3.42 | 4.54 |
| 2023 | 5280 | 9.35 | 10.58 | 51754 | 0.02 | 0.25 | 1.45 | 6.01 | 6.98 |
| 2022 | 6664 | 8.82 | 8.82 | 58785 | 0.02 | 1.45 | 1.45 | (16.16) | (16.16) |
| 2021 | 6597 | 10.52 | 10.52 | 69429 | 0.01 | 1.45 | 1.45 | 1.84 | 1.84 |
|  NAA All Cap Value Series |  |  |  |  |  |  |  |  |  |
| 2025 | 7053 | 17.46 | 32.91 | 142509 | 1.48 | 1.10 | 1.25 | 8.18 | 8.33 |
| 2024 | 6886 | 16.14 | 30.38 | 128942 | 0.02 | 1.10 | 1.25 | 5.63 | 5.82 |
| 2023 | 6728 | 15.28 | 28.71 | 119226 | 0.02 | 1.10 | 1.45 | 4.02 | 4.13 |
| 2022 | 6597 | 14.69 | 27.57 | 112789 | 0.01 | 1.10 | 1.45 | (5.29) | (5.13) |
| 2021 | 6537 | 15.51 | 29.06 | 118918 | 0.04 | 1.10 | 1.45 | 21.46 | 21.90 |
|  NAA Large Cap Value Series |  |  |  |  |  |  |  |  |  |
| 2025 | 6657 | 32.15 | 32.15 | 214027 | 1.37 | 1.10 | 1.10 | 9.54 | 9.54 |
| 2024 | 7307 | 29.35 | 29.35 | 214448 | 0.02 | 1.10 | 1.10 | 8.91 | 8.91 |
| 2023 | 7509 | 26.95 | 26.95 | 202387 | 0.02 | 1.10 | 1.10 | 4.86 | 4.86 |
| 2022 | 14934 | 25.70 | 25.70 | 383721 | 0.01 | 1.10 | 1.10 | (5.27) | (5.27) |
| 2021 | 16164 | 27.13 | 27.13 | 438449 | 0.02 | 1.10 | 1.10 | 21.93 | 21.93 |
|  NAA Large Growth Series |  |  |  |  |  |  |  |  |  |
| 2025 | 2141 | 38.55 | 45.19 | 86841 | 2.45 | 0.25 | 1.25 | 12.13 | 13.26 |
| 2024 | 2090 | 34.38 | 39.90 | 75359 | 0.03 | 0.25 | 1.25 | 26.63 | 27.93 |
| 2023 | 2039 | 27.15 | 31.19 | 57901 | 0.01 | 0.25 | 1.45 | 34.14 | 35.49 |
| 2022 | 1991 | 20.24 | 23.02 | 42033 | 0.00 | 0.25 | 1.45 | (33.57) | (32.91) |
| 2021 | 1945 | 30.47 | 34.31 | 61589 | 0.01 | 0.25 | 1.45 | 22.22 | 23.68 |
|  NAA Mid Growth Series |  |  |  |  |  |  |  |  |  |
| 2025 | 654 | 41.82 | 41.82 | 27355 | 2.84 | 1.10 | 1.10 | (1.95) | (1.95) |
| 2024 | 635 | 42.65 | 42.65 | 27070 | 0.01 | 1.10 | 1.10 | 12.65 | 12.65 |
| 2023 | 3612 | 37.86 | 37.86 | 136912 | 0.01 | 1.10 | 1.10 | 21.35 | 21.35 |
| 2022 | 3185 | 31.20 | 31.20 | 99505 | 0.00 | 1.10 | 1.10 | (30.68) | (30.68) |
| 2021 | 721 | 45.01 | 45.01 | 32611 | 0.00 | 1.10 | 1.10 | 9.12 | 9.12 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  NAA Small Cap Value Series |  |  |  |  |  |  |  |  |  |
| 2025 | 1147 | 20.50 | 35.78 | 31885 | 0.99 | 0.25 | 1.10 | (0.86) | (0.05) |
| 2024 | 1178 | 20.51 | 36.09 | 33320 | 0.01 | 0.25 | 1.10 | 4.13 | 5.07 |
| 2023 | 1207 | 19.52 | 34.66 | 33052 | 0.01 | 0.25 | 1.10 | 5.86 | 6.76 |
| 2022 | 2496 | 18.29 | 32.74 | 61729 | 0.01 | 0.25 | 1.10 | (7.59) | (6.78) |
| 2021 | 2073 | 20.16 | 35.43 | 52074 | 0.01 | 0.25 | 1.10 | 21.13 | 22.18 |
|  NAA Smid-Cap Value Series |  |  |  |  |  |  |  |  |  |
| 2025 | 1461 | 32.86 | 37.16 | 49492 | 1.11 | 0.25 | 1.10 | 3.04 | 3.91 |
| 2024 | 1442 | 31.89 | 35.76 | 47319 | 0.01 | 0.25 | 1.10 | 4.66 | 5.58 |
| 2023 | 1424 | 30.47 | 33.87 | 44553 | 0.02 | 0.25 | 1.10 | 5.32 | 6.21 |
| 2022 | 1284 | 28.93 | 31.89 | 38136 | 0.01 | 0.25 | 1.10 | (5.80) | (4.98) |
| 2021 | 1108 | 30.71 | 33.56 | 34545 | 0.02 | 0.25 | 1.10 | 18.80 | 19.81 |
|  NAA World Equity Income Series |  |  |  |  |  |  |  |  |  |
| 2025 | 2708 | 19.53 | 19.53 | 52926 | 1.88 | 1.10 | 1.10 | 17.79 | 17.79 |
| 2024 | 3028 | 16.58 | 16.58 | 50196 | 0.03 | 1.10 | 1.10 | 8.08 | 8.08 |
| 2023 | 3344 | 15.34 | 15.34 | 51357 | 0.03 | 1.10 | 1.10 | 7.80 | 7.80 |
| 2022 | 3668 | 14.23 | 14.23 | 52233 | 0.02 | 1.10 | 1.10 | (12.75) | (12.75) |
| 2021 | 4032 | 16.31 | 16.31 | 65825 | 0.01 | 1.10 | 1.10 | 16.83 | 16.83 |
|  Neuberger Berman AMT Quality Equity Portfolio (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 19994 | 17.77 | 30.52 | 420831 |  | 0.25 | 1.45 | 8.75 | 10.10 |
| 2024 | 24573 | 16.34 | 27.72 | 483825 |  | 0.25 | 1.45 | 20.32 | 21.85 |
| 2023 | 19986 | 13.58 | 22.75 | 316916 | 0.00 | 0.25 | 1.45 | 21.36 | 22.84 |
| 2022 | 20468 | 11.19 | 18.52 | 264794 | 0.00 | 0.25 | 1.45 | (21.97) | (21.06) |
| 2021 | 20751 | 14.34 | 23.46 | 341520 | 0.00 | 0.25 | 1.45 | 18.12 | 19.51 |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Nomura VIP Asset Strategy Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 52223 | 12.32 | 12.32 | 643564 | 1.30 | 1.25 | 1.25 | 11.80 | 11.80 |
| 2024 | 50677 | 11.02 | 13.09 | 558609 | 0.02 | 0.25 | 1.25 | 7.72 | 8.90 |
| 2023 | 51196 | 10.23 | 12.02 | 527396 | 0.04 | 0.25 | 1.45 | 9.18 | 10.28 |
| 2022 | 3551 | 10.90 | 10.90 | 38706 | 0.02 | 0.25 | 0.25 | (17.49) | (17.49) |
| 2021 | 3494 | 13.21 | 13.21 | 46149 | 0.02 | 0.25 | 0.25 | 6.96 | 6.96 |
|  Nomura VIP Balanced Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 2346 | 15.17 | 15.17 | 35594 | 1.18 | 1.25 | 1.25 | 7.13 | 7.13 |
| 2024 | 2858 | 14.16 | 14.16 | 40468 | 0.01 | 1.25 | 1.25 | 10.71 | 10.71 |
| 2023 | 2779 | 12.79 | 16.21 | 35524 | 0.01 | 0.25 | 1.45 | 11.22 | 12.34 |
| 2022 | 4029 | 11.50 | 14.43 | 49212 | 0.01 | 0.25 | 1.45 | (19.52) | (18.75) |
| 2021 | 4048 | 14.29 | 17.76 | 61163 | 0.01 | 0.25 | 1.45 | 10.95 | 12.26 |
|  Nomura VIP Energy Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 1043 | 5.22 | 5.23 | 5443 | 0.96 | 0.25 | 1.25 | 7.17 | 8.30 |
| 2024 | 1014 | 4.82 | 4.88 | 4936 | 0.01 | 0.25 | 1.25 | (9.46) | (8.71) |
| 2023 | 6737 | 5.28 | 5.39 | 35696 | 0.03 | 0.25 | 1.45 | (0.37) | 0.76 |
| 2022 | 6525 | 5.24 | 5.41 | 34401 | 0.05 | 0.25 | 1.45 | 44.27 | 45.56 |
| 2021 | 1154 | 3.75 | 3.75 | 4322 | 0.02 | 1.45 | 1.45 | 35.87 | 35.87 |
|  Nomura VIP Global Growth Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 2278 | 18.83 | 21.97 | 50108 | 0.32 | 0.25 | 1.25 | 13.03 | 14.13 |
| 2024 | 9475 | 16.66 | 19.25 | 163953 | 0.01 | 0.25 | 1.25 | 12.19 | 13.37 |
| 2023 | 9342 | 14.85 | 16.98 | 143993 | 0.00 | 0.25 | 1.45 | 14.94 | 16.14 |
| 2022 | 9182 | 12.92 | 14.62 | 122796 | 0.01 | 0.25 | 1.45 | (20.93) | (20.20) |
| 2021 | 8927 | 16.34 | 18.32 | 150641 | 0.00 | 0.25 | 1.45 | 12.69 | 14.14 |
|  Nomura VIP Growth Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 601 | 45.26 | 46.11 | 27220 |  | 0.25 | 0.25 | 4.94 | 4.94 |
| 2024 | 1299 | 43.13 | 43.94 | 56653 |  | 0.25 | 0.25 | 19.92 | 19.94 |
| 2023 | 1277 | 35.96 | 36.64 | 46403 |  | 0.25 | 0.25 | 33.53 | 33.53 |
| 2022 | 594 | 26.93 | 26.93 | 16032 |  | 0.25 | 0.25 | (29.50) | (29.50) |
| 2021 | 355 | 38.20 | 38.20 | 13575 |  | 0.25 | 0.25 | 25.86 | 25.86 |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Nomura VIP High Income Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 1625 | 13.12 | 13.12 | 21370 | 6.69 | 0.25 | 0.25 | 3.72 | 3.72 |
| 2024 | 1766 | 9.67 | 12.65 | 22336 | 0.04 | 0.25 | 1.25 | 1.68 | 2.85 |
| 2023 | 4575 | 9.51 | 12.30 | 48874 | 0.07 | 0.25 | 1.45 | 7.09 | 8.18 |
| 2022 | 5206 | 8.88 | 11.37 | 52910 | 0.06 | 0.25 | 1.45 | (14.62) | (13.86) |
| 2021 | 5629 | 10.40 | 13.20 | 67607 | 0.06 | 0.25 | 1.45 | 1.46 | 2.72 |
|  Nomura VIP International Core Equity Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 3747 | 12.63 | 12.63 | 47348 | 0.41 | 1.25 | 1.25 | 18.93 | 18.93 |
| 2024 | 3661 | 10.62 | 10.62 | 38880 | 0.01 | 1.25 | 1.25 | (0.47) | (0.47) |
| 2023 | 3897 | 10.67 | 10.67 | 41612 | 0.02 | 1.25 | 1.45 | 10.80 | 10.80 |
| 2022 | 3754 | 9.63 | 9.63 | 36169 | 0.02 | 1.45 | 1.45 | (17.90) | (17.90) |
| 2021 | 3610 | 11.73 | 11.73 | 42353 | 0.01 | 1.45 | 1.45 | 9.22 | 9.22 |
|  Nomura VIP Limited+Term Bond Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 |  | 7.29 | 8.09 |  |  | 0.25 | 1.25 | 0.28 | 1.38 |
| 2024 |  | 7.98 | 7.98 |  |  | 0.25 | 0.25 | 1.01 | 1.01 |
| 2023 | 61 | 7.90 | 7.90 | 483 | 0.03 | 0.25 | 0.25 | 1.54 | 1.54 |
| 2022 | 33463 | 7.78 | 7.78 | 260544 | 0.01 | 0.25 | 0.25 | (7.38) | (7.38) |
| 2021 | 31332 | 8.40 | 8.40 | 263350 | 0.02 | 0.25 | 0.25 | (3.67) | (3.67) |
|  Nomura VIP Mid Cap Growth Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 4489 | 18.08 | 22.86 | 91418 |  | 0.25 | 1.25 | (3.06) | (2.10) |
| 2024 | 23366 | 18.65 | 23.35 | 530857 |  | 0.25 | 1.25 | (2.10) | (1.06) |
| 2023 | 21979 | 19.05 | 23.60 | 505181 |  | 0.25 | 1.45 | 14.69 | 15.80 |
| 2022 | 6271 | 16.61 | 20.38 | 116369 |  | 0.25 | 1.45 | (33.67) | (32.98) |
| 2021 | 5717 | 25.04 | 30.41 | 157996 |  | 0.25 | 1.45 | 11.29 | 12.63 |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Nomura VIP Natural Resources Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 704 | 7.35 | 7.35 | 5187 |  | 1.25 | 1.25 | 31.96 | 31.96 |
| 2024 | 686 | 5.57 | 5.57 | 3832 | 0.06 | 1.25 | 1.25 | (4.62) | (4.62) |
| 2023 | 669 | 5.84 | 5.84 | 3923 | 0.02 | 1.25 | 1.45 | (2.67) | (2.67) |
| 2022 | 653 | 6.00 | 6.00 | 3931 | 0.02 | 1.45 | 1.45 | 12.78 | 12.78 |
| 2021 | 637 | 5.32 | 5.32 | 3397 | 0.02 | 1.45 | 1.45 | 21.18 | 21.18 |
|  Nomura VIP Science And Technology Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 3406 | 34.63 | 51.29 | 156907 |  | 0.25 | 1.25 | 27.79 | 29.10 |
| 2024 | 4117 | 27.10 | 39.73 | 138299 |  | 0.25 | 1.25 | 25.12 | 26.39 |
| 2023 | 2760 | 21.66 | 31.44 | 80713 |  | 0.25 | 1.45 | 33.29 | 34.65 |
| 2022 | 2702 | 16.25 | 22.92 | 58665 |  | 0.25 | 1.45 | (34.66) | (33.99) |
| 2021 | 2832 | 24.87 | 35.38 | 91668 |  | 0.25 | 1.45 | 10.14 | 11.47 |
|  Nomura VIP Small Cap Growth Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 5223 | 16.10 | 17.71 | 85818 |  | 0.25 | 1.25 | 8.64 | 9.80 |
| 2024 | 4092 | 14.82 | 14.82 | 60734 |  | 1.25 | 1.25 | 9.45 | 9.45 |
| 2023 | 4050 | 13.54 | 13.54 | 54908 |  | 1.25 | 1.45 | 8.41 | 8.41 |
| 2022 | 3921 | 12.49 | 12.49 | 49068 |  | 1.45 | 1.45 | (29.83) | (29.83) |
| 2021 | 3799 | 17.80 | 17.80 | 67717 | 0.01 | 1.45 | 1.45 | (0.50) | (0.50) |
|  Nomura VIP Smid Cap Core Series (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 220 | 16.43 | 16.43 | 3610 | 0.14 | 1.25 | 1.25 | 3.86 | 3.86 |
| 2024 | 214 | 15.82 | 19.62 | 3379 | 0.01 | 0.25 | 1.25 | 9.48 | 10.60 |
| 2023 | 1598 | 14.45 | 17.74 | 27683 | 0.00 | 0.25 | 1.45 | 10.81 | 11.99 |
| 2022 | 1609 | 13.04 | 15.84 | 24939 |  | 0.25 | 1.45 | (18.30) | (17.54) |
| 2021 | 1528 | 15.96 | 19.21 | 28730 |  | 0.25 | 1.45 | 15.48 | 16.92 |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  PIMCO VIT All Asset |  |  |  |  |  |  |  |  |  |
| 2025 | 2475 | 10.29 | 11.95 | 25460 | 5.81 | 0.25 | 1.25 | 9.35 | 10.55 |
| 2024 | 2909 | 9.41 | 10.81 | 27338 | 0.08 | 0.25 | 1.25 | (0.74) | 0.28 |
| 2023 | 5083 | 9.48 | 10.78 | 51138 | 0.03 | 0.25 | 1.45 | 3.61 | 4.56 |
| 2022 | 5869 | 9.15 | 10.31 | 57368 | 0.07 | 0.25 | 1.45 | (15.59) | (14.72) |
| 2021 | 5749 | 10.84 | 12.09 | 66186 | 0.11 | 0.25 | 1.45 | 10.95 | 12.36 |
|  PIMCO VIT CommodityRealReturn Strategy |  |  |  |  |  |  |  |  |  |
| 2025 | 28766 | 5.27 | 6.33 | 152632 | 2.74 | 0.25 | 1.25 | 13.85 | 14.81 |
| 2024 | 28491 | 4.59 | 5.56 | 131620 | 0.02 | 0.25 | 1.25 | (0.36) | 0.66 |
| 2023 | 39007 | 4.56 | 5.58 | 201530 | 0.19 | 0.25 | 1.45 | (11.85) | (10.94) |
| 2022 | 50589 | 5.12 | 6.33 | 286922 | 0.31 | 0.25 | 1.45 | 4.11 | 5.13 |
| 2021 | 28722 | 4.87 | 6.08 | 140854 | 0.04 | 0.25 | 1.45 | 27.46 | 28.84 |
|  PIMCO VIT Emerging Markets Bond |  |  |  |  |  |  |  |  |  |
| 2025 | 26444 | 9.36 | 11.19 | 292343 | 6.78 | 0.25 | 1.25 | 10.12 | 11.12 |
| 2024 | 25630 | 8.50 | 10.07 | 255329 | 0.06 | 0.25 | 1.25 | 2.91 | 4.03 |
| 2023 | 25738 | 8.26 | 9.68 | 244305 | 0.05 | 0.25 | 1.45 | 6.44 | 7.44 |
| 2022 | 19051 | 7.76 | 9.01 | 167121 | 0.04 | 0.25 | 1.45 | (19.33) | (18.46) |
| 2021 | 23321 | 9.62 | 11.05 | 252061 | 0.04 | 0.25 | 1.45 | (6.87) | (5.80) |
|  PIMCO VIT Global Bond Opportunities Portfolio (Unhedged) |  |  |  |  |  |  |  |  |  |
| 2025 | 593 | 10.05 | 10.05 | 5956 | 4.46 | 0.25 | 0.25 | 9.12 | 9.12 |
| 2024 | 577 | 6.60 | 9.21 | 5311 | 0.02 | 0.25 | 1.25 | (4.76) | (3.86) |
| 2023 | 3275 | 6.93 | 9.58 | 24155 | 0.02 | 0.25 | 1.45 | 0.87 | 1.81 |
| 2022 | 3184 | 6.87 | 9.41 | 23256 | 0.01 | 0.25 | 1.45 | (14.87) | (13.91) |
| 2021 | 3096 | 8.07 | 10.93 | 26482 | 0.05 | 0.25 | 1.45 | (8.40) | (7.37) |
|  PIMCO VIT High Yield |  |  |  |  |  |  |  |  |  |
| 2025 |  | 10.34 | 19.17 |  |  | 0.25 | 1.25 | 4.34 | 5.39 |
| 2024 |  | 18.19 | 18.19 |  | 0.03 | 0.25 | 0.25 | 3.35 | 3.35 |
| 2023 | 132 | 17.60 | 17.60 | 2330 | 0.05 | 0.25 | 0.25 | 8.51 | 8.51 |
| 2022 | 131 | 16.22 | 16.22 | 2116 | 0.05 | 0.25 | 0.25 | (13.26) | (13.26) |
| 2021 | 129 | 18.70 | 18.70 | 2405 | 0.04 | 0.25 | 0.25 | 0.21 | 0.21 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  PIMCO VIT International Bond Portfolio (Unhedged) |  |  |  |  |  |  |  |  |  |
| 2025 | 9573 | 5.97 | 6.49 | 60873 | 3.44 | 0.25 | 1.25 | 5.48 | 6.57 |
| 2024 | 9211 | 5.66 | 6.09 | 55055 | 0.03 | 0.25 | 1.25 | (7.67) | (6.60) |
| 2023 | 15999 | 6.13 | 6.52 | 103331 | 0.02 | 0.25 | 1.45 | 1.83 | 2.68 |
| 2022 | 13218 | 6.02 | 6.35 | 83071 | 0.01 | 0.25 | 1.45 | (22.52) | (21.60) |
| 2021 | 10529 | 7.77 | 8.10 | 84436 | 0.05 | 0.25 | 1.45 | (11.60) | (10.60) |
|  PIMCO VIT Low Duration Administrative |  |  |  |  |  |  |  |  |  |
| 2025 | 19792 | 7.11 | 7.11 | 140806 | 2.55 | 1.40 | 1.40 | 0.99 | 0.99 |
| 2024 | 112190 | 7.04 | 7.04 | 791519 | 0.04 | 1.40 | 1.40 |  |  |
| 2023 | 59336 | 7.04 | 7.04 | 418616 | 0.05 | 1.40 | 1.40 | 0.43 | 0.43 |
| 2022 | 30982 | 7.01 | 7.01 | 217169 | 0.01 | 1.40 | 1.40 | (9.78) | (9.78) |
| 2021 | 64496 | 7.77 | 7.77 | 502800 | 0.01 | 1.40 | 1.40 | (5.24) | (5.24) |
|  PIMCO VIT Low Duration Advisor |  |  |  |  |  |  |  |  |  |
| 2025 | 39637 | 6.98 | 7.65 | 283116 | 3.84 | 0.25 | 1.25 | 1.01 | 2.14 |
| 2024 | 40198 | 6.91 | 7.49 | 283355 | 0.04 | 0.25 | 1.25 |  | 0.94 |
| 2023 | 39680 | 6.91 | 7.42 | 279207 | 0.03 | 0.25 | 1.45 | 0.58 | 1.50 |
| 2022 | 41371 | 6.87 | 7.31 | 289246 | 0.02 | 0.25 | 1.45 | (9.84) | (8.85) |
| 2021 | 39202 | 7.62 | 8.02 | 302647 | 0.00 | 0.25 | 1.45 | (5.34) | (4.18) |
|  PIMCO VIT Real Return Administrative |  |  |  |  |  |  |  |  |  |
| 2025 | 27478 | 8.77 | 8.77 | 241122 | 3.35 | 1.40 | 1.40 | 3.18 | 3.18 |
| 2024 | 29329 | 8.50 | 8.50 | 250568 | 0.03 | 1.40 | 1.40 | (2.30) | (2.30) |
| 2023 | 27964 | 8.70 | 8.70 | 243403 | 0.03 | 1.40 | 1.40 | (0.80) | (0.80) |
| 2022 | 35741 | 8.77 | 8.77 | 313663 | 0.07 | 1.40 | 1.40 | (15.67) | (15.67) |
| 2021 | 35298 | 10.40 | 10.40 | 368333 | 0.05 | 1.40 | 1.40 | 0.97 | 0.97 |
|  PIMCO VIT Real Return Advisor |  |  |  |  |  |  |  |  |  |
| 2025 | 19427 | 7.71 | 8.88 | 164920 | 4.00 | 0.25 | 1.25 | 3.21 | 4.23 |
| 2024 | 19161 | 7.47 | 8.52 | 156408 | 0.04 | 0.25 | 1.25 | (2.23) | (1.16) |
| 2023 | 30968 | 7.64 | 8.62 | 260923 | 0.03 | 0.25 | 1.45 | (0.78) | 0.23 |
| 2022 | 19221 | 7.70 | 8.60 | 159795 | 0.07 | 0.25 | 1.45 | (15.66) | (14.85) |
| 2021 | 16693 | 9.13 | 10.10 | 162768 | 0.05 | 0.25 | 1.45 | 0.88 | 2.12 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  PIMCO VIT Short-Term |  |  |  |  |  |  |  |  |  |
| 2025 | 80960 | 7.67 | 8.58 | 671407 | 4.53 | 0.25 | 1.25 | 0.26 | 1.30 |
| 2024 | 77093 | 7.65 | 8.47 | 632640 | 0.05 | 0.25 | 1.25 | 1.46 | 2.54 |
| 2023 | 84758 | 7.54 | 8.26 | 681601 | 0.04 | 0.25 | 1.45 | 1.48 | 2.35 |
| 2022 | 66909 | 7.43 | 8.07 | 521940 | 0.02 | 0.25 | 1.45 | (4.50) | (3.47) |
| 2021 | 55596 | 7.78 | 8.36 | 451605 | 0.01 | 0.25 | 1.45 | (4.42) | (3.35) |
|  PIMCO VIT Total Return Administrative |  |  |  |  |  |  |  |  |  |
| 2025 | 34793 | 8.70 | 8.70 | 302786 | 4.03 | 1.40 | 1.40 | 4.19 | 4.19 |
| 2024 | 41579 | 8.35 | 8.35 | 348061 | 0.04 | 1.40 | 1.40 | (1.88) | (1.88) |
| 2023 | 42813 | 8.51 | 8.51 | 364407 | 0.04 | 1.40 | 1.40 | 1.43 | 1.43 |
| 2022 | 70379 | 8.39 | 8.39 | 593405 | 0.02 | 1.40 | 1.40 | (18.07) | (18.07) |
| 2021 | 172338 | 10.24 | 10.24 | 1766227 | 0.01 | 1.40 | 1.40 | (5.54) | (5.54) |
|  PIMCO VIT Total Return Advisor |  |  |  |  |  |  |  |  |  |
| 2025 | 59944 | 7.60 | 8.72 | 475797 | 4.02 | 0.25 | 1.25 | 4.25 | 5.31 |
| 2024 | 59155 | 7.29 | 8.28 | 449509 | 0.04 | 0.25 | 1.25 | (1.88) | (0.84) |
| 2023 | 65396 | 7.43 | 8.35 | 502675 | 0.03 | 0.25 | 1.45 | 1.36 | 2.45 |
| 2022 | 64465 | 7.33 | 8.15 | 487406 | 0.02 | 0.25 | 1.45 | (17.92) | (17.17) |
| 2021 | 60585 | 8.93 | 9.84 | 554283 | 0.02 | 0.25 | 1.45 | (5.60) | (4.56) |
|  Putnam VT Core Equity Fund |  |  |  |  |  |  |  |  |  |
| 2025 |  | 29.83 | 29.83 |  | 0.85 | 1.25 | 1.25 | 11.93 | 11.93 |
| 2024 | 3455 | 26.65 | 26.65 | 92072 |  | 1.25 | 1.25 | 21.63 | 21.63 |
| 2023 |  | 21.91 | 27.16 |  |  | 0.25 | 1.25 | 22.75 | 24.02 |
| 2022 |  | 17.85 | 21.90 |  |  | 0.25 | 1.45 | (19.23) | (18.44) |
| 2021 |  | 22.10 | 27.26 |  |  | 0.25 | 1.45 | 25.28 | 26.79 |
|  Putnam VT Large Cap Growth Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 12849 | 39.33 | 48.73 | 508876 |  | 0.25 | 1.25 | 9.55 | 10.65 |
| 2024 | 12128 | 35.90 | 44.04 | 435236 |  | 0.25 | 1.25 | 27.80 | 29.11 |
| 2023 | 12782 | 28.09 | 34.11 | 364775 |  | 0.25 | 1.45 | 38.51 | 39.91 |
| 2022 | 12698 | 20.28 | 24.38 | 262333 |  | 0.25 | 1.45 | (33.38) | (32.71) |
| 2021 | 12770 | 30.44 | 36.23 | 397582 |  | 0.25 | 1.45 | 17.30 | 18.71 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Putnam VT Large Cap Value |  |  |  |  |  |  |  |  |  |
| 2025 | 19173 | 24.07 | 30.34 | 497634 | 1.84 | 0.25 | 1.25 | 15.33 | 16.51 |
| 2024 | 34918 | 20.87 | 26.04 | 815406 | 0.01 | 0.25 | 1.25 | 14.17 | 15.32 |
| 2023 | 27941 | 18.28 | 22.58 | 582137 | 0.02 | 0.25 | 1.45 | 10.86 | 11.95 |
| 2022 | 26814 | 16.49 | 20.17 | 498611 | 0.01 | 0.25 | 1.45 | (7.15) | (6.19) |
| 2021 | 29504 | 17.76 | 21.50 | 572924 | 0.01 | 0.25 | 1.45 | 21.73 | 23.21 |
|  Putnam VT Small Cap Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 15691 | 18.88 | 23.62 | 361104 | 0.07 | 0.25 | 1.25 | 4.25 | 5.31 |
| 2024 | 1964 | 18.11 | 18.11 | 35574 |  | 1.25 | 1.25 | 18.21 | 18.21 |
| 2023 | 1913 | 15.32 | 15.32 | 29325 |  | 1.25 | 1.45 | 18.03 | 18.03 |
| 2022 | 1864 | 12.98 | 12.98 | 24209 |  | 1.45 | 1.45 | (31.29) | (31.29) |
| 2021 | 1816 | 18.89 | 18.89 | 34323 |  | 1.45 | 1.45 | 8.94 | 8.94 |
|  Rydex VIF Banking |  |  |  |  |  |  |  |  |  |
| 2025 | 6913 | 7.69 | 14.74 | 90601 | 0.63 | 1.25 | 1.30 | 18.58 | 18.67 |
| 2024 | 6947 | 6.48 | 12.43 | 75793 | 0.03 | 1.25 | 1.30 | 17.82 | 17.93 |
| 2023 | 6876 | 5.50 | 10.54 | 63183 | 0.01 | 1.25 | 1.45 | (1.31) | (1.26) |
| 2022 | 6985 | 5.57 | 10.68 | 63966 | 0.01 | 1.30 | 1.45 | (20.54) | (20.42) |
| 2021 | 7576 | 7.01 | 13.42 | 88658 | 0.01 | 1.30 | 1.45 | 27.69 | 27.92 |
|  Rydex VIF Basic Materials |  |  |  |  |  |  |  |  |  |
| 2025 | 7558 | 15.59 | 19.36 | 137880 | 1.46 | 0.25 | 1.30 | 27.27 | 28.60 |
| 2024 | 6726 | 12.25 | 15.21 | 97811 | 0.01 | 0.25 | 1.30 | (6.57) | (5.59) |
| 2023 | 9307 | 13.10 | 16.28 | 143181 |  | 0.25 | 1.45 | 4.43 | 5.52 |
| 2022 | 8747 | 12.54 | 13.23 | 128362 | 0.01 | 0.25 | 1.45 | (13.46) | (12.56) |
| 2021 | 10116 | 14.49 | 15.13 | 167338 | 0.01 | 0.25 | 1.45 | 17.61 | 19.04 |
|  Rydex VIF Biotechnology |  |  |  |  |  |  |  |  |  |
| 2025 | 13318 | 15.58 | 34.06 | 252838 |  | 0.25 | 1.30 | 24.64 | 25.96 |
| 2024 | 13199 | 12.50 | 27.04 | 200857 |  | 0.25 | 1.30 | (5.54) | (4.55) |
| 2023 | 12602 | 13.23 | 28.33 | 198091 |  | 0.25 | 1.45 | 1.03 | 2.16 |
| 2022 | 11714 | 13.08 | 27.73 | 172626 |  | 0.25 | 1.45 | (16.90) | (16.07) |
| 2021 | 19558 | 15.74 | 33.04 | 335148 |  | 0.25 | 1.45 | (3.02) | (1.84) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF Commodities Strategy |  |  |  |  |  |  |  |  |  |
| 2025 | 19832 | 1.75 | 3.93 | 50633 | 4.33 | 1.25 | 1.30 | 0.51 | 0.57 |
| 2024 | 16690 | 1.74 | 3.91 | 44467 | 0.04 | 1.25 | 1.30 | 3.57 | 3.71 |
| 2023 | 20663 | 1.68 | 3.77 | 49118 | 0.08 | 1.25 | 1.45 | (10.24) | (10.16) |
| 2022 | 40651 | 1.87 | 4.20 | 91524 | 0.06 | 1.30 | 1.45 | 17.61 | 17.98 |
| 2021 | 53403 | 1.59 | 3.56 | 97627 |  | 1.30 | 1.45 | 33.33 | 33.61 |
|  Rydex VIF Consumer Products |  |  |  |  |  |  |  |  |  |
| 2025 | 3665 | 10.56 | 17.91 | 44667 | 1.44 | 1.25 | 1.30 | (7.61) | (7.59) |
| 2024 | 4228 | 11.43 | 19.38 | 54888 | 0.02 | 0.25 | 1.30 |  | 1.10 |
| 2023 | 4342 | 11.42 | 19.38 | 57603 | 0.01 | 0.25 | 1.45 | (7.36) | (6.41) |
| 2022 | 4538 | 12.32 | 19.34 | 64984 | 0.01 | 0.25 | 1.45 | (5.01) | (4.07) |
| 2021 | 4408 | 12.97 | 20.16 | 65800 | 0.01 | 0.25 | 1.45 | 5.79 | 7.06 |
|  Rydex VIF Dow 2x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 2676 | 39.69 | 46.82 | 106369 | 0.83 | 1.25 | 1.30 | 14.45 | 14.51 |
| 2024 | 2999 | 34.66 | 40.91 | 106603 | 0.01 | 1.25 | 1.30 | 15.56 | 15.61 |
| 2023 | 2998 | 29.98 | 35.40 | 92542 | 0.00 | 1.25 | 1.45 | 18.36 | 18.40 |
| 2022 | 2971 | 25.32 | 29.91 | 77669 |  | 1.30 | 1.45 | (23.80) | (23.76) |
| 2021 | 3782 | 33.21 | 39.25 | 134123 |  | 1.30 | 1.45 | 34.51 | 34.69 |
|  Rydex VIF Electronics |  |  |  |  |  |  |  |  |  |
| 2025 | 12287 | 23.23 | 23.23 | 285876 |  | 1.30 | 1.30 | 35.53 | 35.53 |
| 2024 | 12062 | 17.14 | 40.71 | 207098 |  | 0.25 | 1.30 | 11.15 | 12.40 |
| 2023 | 13617 | 15.42 | 36.22 | 213807 |  | 0.25 | 1.30 | 48.27 | 49.79 |
| 2022 | 15896 | 10.40 | 24.18 | 167840 |  | 0.25 | 1.30 | (35.52) | (34.82) |
| 2021 | 16309 | 16.13 | 37.10 | 280981 |  | 0.25 | 1.30 | 32.43 | 33.84 |
|  Rydex VIF Energy |  |  |  |  |  |  |  |  |  |
| 2025 | 18409 | 5.64 | 8.03 | 133737 | 1.90 | 0.25 | 1.30 | 2.95 | 4.04 |
| 2024 | 18363 | 5.47 | 7.80 | 129216 | 0.03 | 0.25 | 1.30 | (4.20) | (3.18) |
| 2023 | 16490 | 5.71 | 8.14 | 118406 | 0.04 | 0.25 | 1.45 | (2.63) | (1.57) |
| 2022 | 12746 | 5.86 | 8.36 | 94038 | 0.01 | 1.30 | 1.45 | 41.94 | 42.23 |
| 2021 | 12288 | 4.12 | 5.89 | 63976 | 0.01 | 1.30 | 1.45 | 44.06 | 44.36 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF Energy Services |  |  |  |  |  |  |  |  |  |
| 2025 | 8674 | 1.86 | 1.86 | 16164 | 0.06 | 1.30 | 1.30 | (2.62) | (2.62) |
| 2024 | 8510 | 1.69 | 1.91 | 16278 |  | 1.25 | 1.30 | (11.98) | (11.98) |
| 2023 | 11950 | 1.92 | 2.17 | 24994 |  | 1.25 | 1.45 |  | 0.52 |
| 2022 | 11703 | 1.91 | 2.29 | 24486 |  | 0.25 | 1.45 | 36.43 | 37.95 |
| 2021 | 11789 | 1.40 | 1.66 | 18111 | 0.00 | 0.25 | 1.45 | 12.00 | 13.70 |
|  Rydex VIF Europe 1.25x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 4 | 7.96 | 7.96 | 35 |  | 1.30 | 1.30 | 30.71 | 30.71 |
| 2024 | 4 | 6.09 | 6.09 | 26 | 0.08 | 1.30 | 1.30 | (7.02) | (7.02) |
| 2023 | 4 | 6.55 | 6.55 | 27 |  | 1.30 | 1.30 | 14.91 | 14.91 |
| 2022 | 4 | 5.70 | 5.70 | 23 |  | 1.30 | 1.30 | (16.67) | (16.67) |
| 2021 | 4 | 6.84 | 6.84 | 27 |  | 1.30 | 1.30 | 13.81 | 13.81 |
|  Rydex VIF Financial Services |  |  |  |  |  |  |  |  |  |
| 2025 | 2874 | 11.00 | 11.00 | 31569 | 0.36 | 1.30 | 1.30 | 6.18 | 6.18 |
| 2024 | 5785 | 10.36 | 10.36 | 59922 | 0.01 | 1.30 | 1.30 | 17.06 | 17.06 |
| 2023 | 5644 | 8.85 | 8.85 | 49918 |  | 1.30 | 1.30 | 9.12 | 9.12 |
| 2022 | 5506 | 8.11 | 8.11 | 44633 | 0.01 | 1.30 | 1.30 | (21.57) | (21.57) |
| 2021 | 2982 | 10.34 | 10.34 | 30796 | 0.00 | 1.30 | 1.30 | 29.57 | 29.57 |
|  Rydex VIF Government Long Bond 1.2x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 1062 | 5.96 | 5.96 | 6354 | 3.33 | 1.30 | 1.30 | (2.61) | (2.61) |
| 2024 | 1120 | 6.12 | 6.12 | 6855 | 0.02 | 1.30 | 1.30 | (16.16) | (16.16) |
| 2023 | 2691 | 7.30 | 7.30 | 19682 | 0.02 | 1.30 | 1.30 | (5.19) | (5.19) |
| 2022 | 1234 | 7.70 | 7.70 | 9528 | 0.02 | 1.30 | 1.30 | (43.34) | (43.34) |
| 2021 | 963 | 13.59 | 13.59 | 13116 | 0.00 | 1.30 | 1.30 | (11.41) | (11.41) |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF Health Care |  |  |  |  |  |  |  |  |  |
| 2025 | 8449 | 17.33 | 25.16 | 156001 |  | 0.25 | 1.30 | 9.26 | 10.40 |
| 2024 | 8812 | 15.86 | 22.79 | 149066 |  | 0.25 | 1.30 | (4.08) | (3.06) |
| 2023 | 8786 | 16.52 | 23.51 | 155255 |  | 0.25 | 1.45 | 0.56 | 1.69 |
| 2022 | 9108 | 16.42 | 23.12 | 160120 |  | 0.25 | 1.45 | (15.67) | (14.81) |
| 2021 | 8932 | 19.47 | 27.14 | 186265 |  | 0.25 | 1.45 | 13.73 | 15.05 |
|  Rydex VIF Internet |  |  |  |  |  |  |  |  |  |
| 2025 | 9256 | 16.81 | 33.34 | 177388 |  | 0.25 | 1.30 | 13.50 | 14.69 |
| 2024 | 8785 | 14.81 | 29.07 | 144103 |  | 0.25 | 1.30 | 18.10 | 19.43 |
| 2023 | 10056 | 12.54 | 24.34 | 142795 |  | 0.25 | 1.45 | 41.22 | 42.67 |
| 2022 | 9917 | 12.80 | 17.06 | 99548 |  | 0.25 | 1.45 | (47.15) | (46.59) |
| 2021 | 11173 | 24.22 | 31.94 | 211502 |  | 0.25 | 1.45 | (8.81) | (7.71) |
|  Rydex VIF Inverse Government Long Bond Strategy |  |  |  |  |  |  |  |  |  |
| 2025 |  | 1.52 | 1.52 |  |  | 1.30 | 1.30 | (2.56) | (2.56) |
| 2024 |  | 2.35 | 2.35 |  | 0.05 | 0.25 | 0.25 | 13.53 | 13.53 |
| 2023 | 1802 | 1.39 | 2.07 | 3750 |  | 0.25 | 1.30 | (0.71) | 0.49 |
| 2022 | 5710 | 1.40 | 2.06 | 9156 |  | 0.25 | 1.30 | 40.00 | 42.07 |
| 2021 | 1751 | 1.00 | 1.45 | 2547 |  | 0.25 | 1.30 | (2.91) | (2.68) |
|  Rydex VIF Inverse Mid-Cap Strategy |  |  |  |  |  |  |  |  |  |
| 2025 |  | 0.29 | 0.53 |  |  | 0.25 | 1.30 | (9.38) | (7.02) |
| 2024 |  | 0.56 | 0.56 |  |  | 0.25 | 0.25 | (8.20) | (8.20) |
| 2023 | 22107 | 0.61 | 0.61 | 13495 | 0.01 | 0.25 | 0.25 | (12.86) | (12.86) |
| 2022 | 2565 | 0.70 | 0.70 | 1789 |  | 0.25 | 0.25 | 6.06 | 6.06 |
| 2021 |  | 0.39 | 1.91 |  |  | 0.25 | 1.45 | (27.78) | (25.27) |
|  Rydex VIF Inverse NASDAQ-100<sup>®</sup> Strategy |  |  |  |  |  |  |  |  |  |
| 2025 |  | 0.10 | 0.10 |  |  | 1.30 | 1.30 | (16.67) | (16.67) |
| 2024 |  | 0.22 | 0.22 |  |  | 0.25 | 0.25 | (18.52) | (18.52) |
| 2023 | 51585 | 0.27 | 0.27 | 13850 | 0.02 | 0.25 | 0.25 | (34.15) | (34.15) |
| 2022 | 4488 | 0.41 | 0.41 | 1843 |  | 0.25 | 0.25 | 32.26 | 32.26 |
| 2021 |  | 0.18 | 0.90 |  | 0.02 | 0.25 | 1.45 | (29.55) | (28.00) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF Inverse Russell 2000<sup>®</sup> Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 1198 | 0.27 | 0.27 | 317 | 3.12 | 1.30 | 1.30 | (12.90) | (12.90) |
| 2024 | 1246 | 0.31 | 0.56 | 389 |  | 0.25 | 1.30 | (8.82) | (8.20) |
| 2023 | 22496 | 0.34 | 0.61 | 13394 |  | 0.25 | 1.30 | (15.00) | (14.08) |
| 2022 | 3867 | 0.40 | 0.71 | 2356 |  | 0.25 | 1.30 | 11.11 | 12.70 |
| 2021 | 1378 | 0.36 | 0.36 | 494 |  | 1.30 | 1.30 | (21.74) | (21.74) |
|  Rydex VIF Inverse S&P 500 Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 5023 | 0.51 | 0.51 | 2529 | 9.14 | 0.25 | 0.25 | (13.56) | (13.56) |
| 2024 | 4884 | 0.59 | 0.59 | 2878 | 0.12 | 0.25 | 0.25 | (16.90) | (16.90) |
| 2023 | 4750 | 0.36 | 0.71 | 3359 | 0.05 | 0.25 | 1.30 | (18.18) | (17.44) |
| 2022 | 35169 | 0.44 | 0.86 | 18295 |  | 0.25 | 1.30 | 10.00 | 13.16 |
| 2021 | 4489 | 0.76 | 0.76 | 3409 |  | 0.25 | 0.25 | (26.92) | (26.92) |
|  Rydex VIF Japan 2x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 5271 | 13.13 | 14.50 | 76313 | 3.98 | 1.25 | 1.30 | 45.08 | 45.29 |
| 2024 | 5140 | 9.05 | 9.98 | 51232 | 0.04 | 1.25 | 1.30 | (3.21) | (3.20) |
| 2023 | 5013 | 9.35 | 10.31 | 51609 | 0.00 | 1.25 | 1.45 | 28.79 | 28.88 |
| 2022 | 4891 | 7.26 | 8.00 | 39069 |  | 1.30 | 1.45 | (45.37) | (45.36) |
| 2021 | 4775 | 13.29 | 14.64 | 69784 |  | 1.30 | 1.45 | (17.85) | (17.76) |
|  Rydex VIF Leisure |  |  |  |  |  |  |  |  |  |
| 2025 | 4235 | 14.25 | 14.37 | 60745 |  | 1.25 | 1.30 | 3.94 | 3.98 |
| 2024 | 4122 | 13.71 | 13.82 | 56868 |  | 1.25 | 1.30 | 11.55 | 11.63 |
| 2023 | 4012 | 12.29 | 12.38 | 49584 |  | 1.25 | 1.45 | 17.35 | 17.38 |
| 2022 | 3905 | 10.47 | 10.55 | 41115 |  | 1.30 | 1.45 | (30.62) | (30.55) |
| 2021 | 3801 | 15.09 | 15.19 | 57647 |  | 1.30 | 1.45 | (3.49) | (3.33) |
|  Rydex VIF Mid-Cap 1.5x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 3472 | 20.16 | 34.56 | 73409 | 0.46 | 1.25 | 1.30 | 0.58 | 0.65 |
| 2024 | 3411 | 20.03 | 34.36 | 72112 | 0.01 | 1.25 | 1.30 | 10.41 | 10.42 |
| 2023 | 3336 | 18.14 | 31.12 | 64077 |  | 0.25 | 1.45 | 13.87 | 15.06 |
| 2022 | 3691 | 15.92 | 20.18 | 64085 |  | 0.25 | 1.45 | (26.40) | (25.62) |
| 2021 | 3595 | 21.63 | 27.13 | 84735 |  | 0.25 | 1.45 | 29.37 | 30.94 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF Money Market |  |  |  |  |  |  |  |  |  |
| 2025 | 925455 | 4.44 | 6.54 | 4891224 | 2.88 | 0.25 | 1.30 | (1.55) | (0.48) |
| 2024 | 979887 | 4.51 | 6.64 | 5325747 | 0.04 | 0.25 | 1.30 | (0.45) | 0.64 |
| 2023 | 570272 | 4.53 | 6.67 | 3120786 | 0.04 | 0.25 | 1.45 | (0.66) | 0.32 |
| 2022 | 681651 | 6.21 | 6.71 | 3856461 | 0.01 | 0.25 | 1.45 | (3.45) | (2.51) |
| 2021 | 439193 | 6.37 | 6.95 | 2317979 |  | 0.25 | 1.45 | (4.40) | (3.19) |
|  Rydex VIF NASDAQ-100<sup>®</sup> |  |  |  |  |  |  |  |  |  |
| 2025 | 5499 | 43.26 | 63.74 | 288843 | 0.03 | 0.25 | 1.30 | 14.00 | 15.22 |
| 2024 | 5045 | 37.92 | 55.32 | 225236 |  | 0.25 | 1.30 | 18.65 | 19.92 |
| 2023 | 6390 | 31.95 | 46.13 | 243288 |  | 0.25 | 1.45 | 46.79 | 48.33 |
| 2022 | 6208 | 21.75 | 31.10 | 161966 |  | 0.25 | 1.45 | (36.87) | (36.22) |
| 2021 | 11856 | 34.45 | 48.76 | 464911 |  | 0.25 | 1.45 | 20.03 | 21.51 |
|  Rydex VIF NASDAQ-100<sup>®</sup> 2x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 141 | 120.70 | 164.91 | 18772 |  | 1.25 | 1.30 | 23.77 | 23.82 |
| 2024 | 106 | 97.52 | 97.52 | 10380 |  | 1.30 | 1.30 | 35.86 | 35.86 |
| 2023 | 110 | 71.78 | 71.78 | 7909 |  | 1.30 | 1.30 | 107.10 | 107.10 |
| 2022 | 355 | 34.66 | 34.66 | 12290 |  | 1.30 | 1.30 | (62.66) | (62.66) |
| 2021 | 118 | 92.82 | 92.82 | 10981 |  | 1.30 | 1.30 | 46.96 | 46.96 |
|  Rydex VIF Nova (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 1172 | 34.00 | 40.29 | 45451 |  | 1.25 | 1.30 | 15.76 | 15.81 |
| 2024 | 1345 | 29.37 | 34.79 | 44184 |  | 1.25 | 1.30 | 27.14 | 27.20 |
| 2023 | 1375 | 23.10 | 27.35 | 35329 |  | 1.25 | 1.45 | 29.41 | 29.50 |
| 2022 | 1563 | 17.85 | 21.12 | 30580 | 0.00 | 1.30 | 1.45 | (33.20) | (33.16) |
| 2021 | 1639 | 26.72 | 31.60 | 47681 | 0.00 | 1.30 | 1.45 | 36.03 | 36.19 |
|  Rydex VIF Precious Metals |  |  |  |  |  |  |  |  |  |
| 2025 | 14256 | 21.50 | 22.94 | 312512 | 2.17 | 1.25 | 1.30 | 136.98 | 137.05 |
| 2024 | 13707 | 5.35 | 9.68 | 126831 | 0.02 | 0.25 | 1.30 | 3.53 | 4.70 |
| 2023 | 15018 | 5.11 | 9.35 | 134533 | 0.00 | 0.25 | 1.45 | (0.57) | 0.39 |
| 2022 | 15141 | 5.09 | 8.80 | 134986 | 0.00 | 0.25 | 1.45 | (14.73) | (13.87) |
| 2021 | 14483 | 10.32 | 11.04 | 153319 | 0.04 | 1.30 | 1.45 | (13.13) | (13.00) |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF Real Estate |  |  |  |  |  |  |  |  |  |
| 2025 | 4811 | 9.59 | 13.75 | 60019 | 1.67 | 1.25 | 1.30 | (1.44) | (1.43) |
| 2024 | 5907 | 9.73 | 13.95 | 76099 | 0.01 | 1.25 | 1.30 | 0.58 | 0.72 |
| 2023 | 5565 | 9.66 | 13.87 | 71373 | 0.01 | 1.25 | 1.45 | 5.69 | 5.72 |
| 2022 | 5768 | 9.14 | 13.12 | 70077 | 0.01 | 1.30 | 1.45 | (30.43) | (30.39) |
| 2021 | 5854 | 13.13 | 18.86 | 102900 | 0.01 | 1.30 | 1.45 | 28.22 | 28.39 |
|  Rydex VIF Retailing |  |  |  |  |  |  |  |  |  |
| 2025 | 1865 | 16.24 | 23.03 | 34891 |  | 0.25 | 1.30 | 5.52 | 6.62 |
| 2024 | 1801 | 15.39 | 21.60 | 31869 |  | 0.25 | 1.30 | 11.63 | 12.85 |
| 2023 | 3119 | 13.77 | 19.14 | 53472 |  | 0.25 | 1.45 | 11.67 | 12.85 |
| 2022 | 3233 | 12.33 | 16.96 | 49851 |  | 0.25 | 1.45 | (29.54) | (28.86) |
| 2021 | 3272 | 17.50 | 23.84 | 71695 |  | 0.25 | 1.45 | 6.84 | 8.17 |
|  Rydex VIF Russell 2000<sup>®</sup> 1.5x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 11 | 20.54 | 20.54 | 219 | 0.59 | 1.30 | 1.30 | 7.71 | 7.71 |
| 2024 | 59 | 19.07 | 19.07 | 1129 |  | 1.30 | 1.30 | 6.30 | 6.30 |
| 2023 | 17 | 17.94 | 17.94 | 313 |  | 1.30 | 1.30 | 14.71 | 14.71 |
| 2022 | 21 | 15.64 | 15.64 | 328 |  | 1.30 | 1.30 | (36.24) | (36.24) |
| 2021 | 24 | 24.53 | 24.53 | 596 |  | 1.30 | 1.30 | 13.99 | 13.99 |
|  Rydex VIF Russell 2000<sup>®</sup> 2x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 25 | 11.40 | 11.40 | 289 | 5.07 | 1.30 | 1.30 | 7.34 | 7.34 |
| 2024 | 25 | 10.62 | 10.62 | 263 |  | 1.30 | 1.30 | 4.94 | 4.94 |
| 2023 | 24 | 10.12 | 10.12 | 244 |  | 1.30 | 1.30 | 16.86 | 16.86 |
| 2022 | 24 | 8.66 | 8.66 | 204 |  | 1.30 | 1.30 | (45.36) | (45.36) |
| 2021 | 23 | 15.85 | 15.85 | 365 |  | 1.30 | 1.30 | 20.44 | 20.44 |
|  Rydex VIF S&P 500 2x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 6050 | 47.23 | 59.29 | 357584 | 0.09 | 1.25 | 1.30 | 19.99 | 20.04 |
| 2024 | 5826 | 39.36 | 49.39 | 286725 | 0.01 | 1.25 | 1.30 | 36.24 | 36.29 |
| 2023 | 5688 | 28.89 | 36.24 | 205278 | 0.00 | 1.25 | 1.45 | 38.96 | 39.01 |
| 2022 | 5496 | 20.79 | 26.07 | 142915 |  | 1.30 | 1.45 | (42.28) | (42.25) |
| 2021 | 5396 | 36.02 | 45.14 | 242629 |  | 1.30 | 1.45 | 51.43 | 51.60 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF S&P 500 Pure Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 7869 | 20.09 | 24.61 | 180938 |  | 1.25 | 1.30 | 7.05 | 7.09 |
| 2024 | 7922 | 18.76 | 22.99 | 170359 |  | 1.25 | 1.30 | 21.32 | 21.42 |
| 2023 | 7915 | 15.45 | 18.95 | 139488 |  | 1.25 | 1.45 | 1.98 | 1.99 |
| 2022 | 7676 | 15.15 | 21.19 | 133090 |  | 0.25 | 1.45 | (31.29) | (30.62) |
| 2021 | 10582 | 22.05 | 30.54 | 265263 |  | 0.25 | 1.45 | 22.03 | 23.49 |
|  Rydex VIF S&P 500 Pure Value |  |  |  |  |  |  |  |  |  |
| 2025 | 34583 | 15.46 | 19.00 | 611040 | 1.23 | 0.25 | 1.30 | 11.18 | 12.32 |
| 2024 | 35828 | 13.90 | 17.09 | 568638 | 0.01 | 0.25 | 1.30 | 6.15 | 7.26 |
| 2023 | 36023 | 13.09 | 16.10 | 537910 | 0.01 | 0.25 | 1.45 | 1.83 | 2.89 |
| 2022 | 39792 | 12.85 | 14.86 | 585927 | 0.01 | 0.25 | 1.45 | (6.55) | (5.65) |
| 2021 | 44842 | 13.75 | 15.75 | 706320 | 0.01 | 0.25 | 1.45 | 26.49 | 28.15 |
|  Rydex VIF S&P MidCap 400 Pure Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 3707 | 12.80 | 21.97 | 72528 |  | 0.25 | 1.30 | 2.65 | 3.78 |
| 2024 | 11493 | 12.47 | 21.17 | 171127 |  | 0.25 | 1.30 | 11.24 | 12.43 |
| 2023 | 11374 | 11.20 | 18.83 | 152500 |  | 0.25 | 1.45 | 9.86 | 11.03 |
| 2022 | 10976 | 10.19 | 16.96 | 133344 |  | 0.25 | 1.45 | (25.84) | (25.09) |
| 2021 | 11064 | 13.74 | 22.64 | 183320 |  | 0.25 | 1.45 | 7.34 | 8.64 |
|  Rydex VIF S&P MidCap 400 Pure Value |  |  |  |  |  |  |  |  |  |
| 2025 | 9480 | 16.51 | 21.84 | 182225 | 0.13 | 0.25 | 1.30 | 1.63 | 2.71 |
| 2024 | 10331 | 16.24 | 21.49 | 197521 |  | 0.25 | 1.30 |  | 1.11 |
| 2023 | 10381 | 16.23 | 21.49 | 197873 |  | 0.25 | 1.45 | 22.45 | 23.76 |
| 2022 | 10948 | 13.25 | 15.32 | 171694 | 0.01 | 0.25 | 1.45 | (9.12) | (8.26) |
| 2021 | 10852 | 14.58 | 16.70 | 186870 | 0.00 | 0.25 | 1.45 | 25.58 | 27.09 |
|  Rydex VIF S&P SmallCap 600 Pure Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 905 | 17.44 | 17.44 | 15781 |  | 1.30 | 1.30 | 4.00 | 4.00 |
| 2024 | 887 | 12.10 | 16.77 | 14876 |  | 1.25 | 1.30 | 3.65 | 3.68 |
| 2023 | 2062 | 11.67 | 16.18 | 32749 | 0.00 | 1.25 | 1.45 | 12.52 | 12.64 |
| 2022 | 1981 | 10.36 | 14.00 | 28079 |  | 0.25 | 1.45 | (32.81) | (32.14) |
| 2021 | 1904 | 15.42 | 20.63 | 40384 |  | 0.25 | 1.45 | 13.97 | 15.38 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF S&P SmallCap 600 Pure Value |  |  |  |  |  |  |  |  |  |
| 2025 | 3349 | 14.93 | 14.93 | 50029 |  | 1.30 | 1.30 | 2.26 | 2.26 |
| 2024 | 3860 | 11.73 | 14.60 | 56380 |  | 1.25 | 1.30 | (0.68) | (0.59) |
| 2023 | 4305 | 11.80 | 14.70 | 61875 |  | 1.25 | 1.45 | 16.02 | 16.03 |
| 2022 | 4167 | 10.17 | 12.67 | 52062 |  | 1.30 | 1.45 | (12.07) | (12.02) |
| 2021 | 3814 | 11.56 | 12.59 | 54090 |  | 0.25 | 1.45 | 37.13 | 38.81 |
|  Rydex VIF Strengthening Dollar 2x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 304 | 4.07 | 4.07 | 1236 | 2.79 | 1.30 | 1.30 | (17.78) | (17.78) |
| 2024 | 1061 | 4.95 | 4.95 | 5279 | 0.02 | 1.30 | 1.30 | 15.65 | 15.65 |
| 2023 | 3423 | 4.28 | 5.71 | 14640 | 0.00 | 0.25 | 1.30 | (2.95) | (2.06) |
| 2022 | 6537 | 4.41 | 5.83 | 30335 |  | 0.25 | 1.30 | 10.80 | 11.90 |
| 2021 | 596 | 3.98 | 3.98 | 2370 |  | 1.30 | 1.30 | 6.42 | 6.42 |
|  Rydex VIF Technology |  |  |  |  |  |  |  |  |  |
| 2025 | 58320 | 24.29 | 44.41 | 1964991 |  | 0.25 | 1.30 | 20.37 | 21.64 |
| 2024 | 57144 | 20.18 | 33.78 | 1590595 |  | 1.25 | 1.30 | 18.71 | 18.78 |
| 2023 | 155855 | 17.00 | 28.44 | 3301859 |  | 1.25 | 1.45 | 42.74 | 42.84 |
| 2022 | 163987 | 11.91 | 19.91 | 2383012 |  | 1.30 | 1.45 | (38.89) | (38.89) |
| 2021 | 55385 | 19.49 | 32.58 | 1244708 |  | 1.30 | 1.45 | 15.25 | 15.39 |
|  Rydex VIF Transportation |  |  |  |  |  |  |  |  |  |
| 2025 | 1076 | 15.42 | 18.51 | 16672 |  | 1.25 | 1.30 | 6.99 | 7.08 |
| 2024 | 1052 | 14.40 | 17.30 | 15250 |  | 1.25 | 1.30 | (2.70) | (2.64) |
| 2023 | 1946 | 14.79 | 17.78 | 31658 |  | 1.25 | 1.45 | 19.25 | 19.27 |
| 2022 | 1901 | 12.40 | 14.91 | 25926 |  | 1.30 | 1.45 | (37.75) | (37.72) |
| 2021 | 1861 | 19.91 | 23.95 | 40788 |  | 1.30 | 1.45 | 16.91 | 17.00 |
|  Rydex VIF Utilities |  |  |  |  |  |  |  |  |  |
| 2025 | 7893 | 11.18 | 17.91 | 101083 | 1.48 | 0.25 | 1.30 | 12.14 | 13.35 |
| 2024 | 7879 | 9.97 | 15.80 | 88562 | 0.01 | 0.25 | 1.30 | 14.86 | 16.01 |
| 2023 | 8052 | 8.68 | 13.62 | 78979 | 0.02 | 0.25 | 1.30 | (11.07) | (10.10) |
| 2022 | 9602 | 9.76 | 15.15 | 110627 | 0.01 | 0.25 | 1.30 | (3.17) | (2.13) |
| 2021 | 7840 | 10.08 | 15.48 | 93607 | 0.02 | 0.25 | 1.30 | 9.68 | 10.81 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Rydex VIF Weakening Dollar 2x Strategy (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 45 | 2.37 | 2.37 | 108 | 4.93 | 1.30 | 1.30 | 13.94 | 13.94 |
| 2024 | 45 | 2.08 | 2.08 | 95 | 0.06 | 1.30 | 1.30 | (17.13) | (17.13) |
| 2023 | 45 | 2.51 | 2.51 | 114 | 0.10 | 1.30 | 1.30 | (1.18) | (1.18) |
| 2022 | 45 | 2.54 | 2.54 | 116 |  | 1.30 | 1.30 | (22.09) | (22.09) |
| 2021 |  | 3.26 | 3.26 |  |  | 1.30 | 1.30 | (17.47) | (17.47) |
| T. Rowe Price Blue Chip Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 17990 | 34.23 | 47.99 | 703844 |  | 0.25 | 1.25 | 13.49 | 14.62 |
| 2024 | 31008 | 30.16 | 41.87 | 1085894 |  | 0.25 | 1.25 | 29.50 | 30.84 |
| 2023 | 27250 | 23.29 | 32.00 | 758277 |  | 0.25 | 1.45 | 42.80 | 44.21 |
| 2022 | 32316 | 16.31 | 22.19 | 637897 |  | 0.25 | 1.45 | (41.20) | (40.60) |
| 2021 | 86290 | 27.74 | 37.36 | 2653543 |  | 0.25 | 1.45 | 12.22 | 13.56 |
| T. Rowe Price Equity Income |  |  |  |  |  |  |  |  |  |
| 2025 | 6213 | 16.57 | 22.56 | 123799 | 1.70 | 0.25 | 1.25 | 9.30 | 10.43 |
| 2024 | 5114 | 15.16 | 20.43 | 86373 | 0.01 | 0.25 | 1.25 | 6.76 | 7.87 |
| 2023 | 11343 | 14.20 | 18.94 | 169034 | 0.02 | 0.25 | 1.45 | 4.72 | 5.81 |
| 2022 | 35440 | 13.56 | 17.90 | 592138 | 0.02 | 0.25 | 1.45 | (7.57) | (6.67) |
| 2021 | 31741 | 14.67 | 19.18 | 592444 | 0.01 | 0.25 | 1.45 | 19.76 | 21.24 |
| T. Rowe Price Health Sciences |  |  |  |  |  |  |  |  |  |
| 2025 | 9817 | 22.83 | 39.68 | 248389 |  | 0.25 | 1.25 | 12.91 | 14.02 |
| 2024 | 11539 | 20.22 | 34.80 | 278704 |  | 0.25 | 1.25 | (2.84) | (1.83) |
| 2023 | 11698 | 20.81 | 36.12 | 290178 |  | 0.25 | 1.45 | (1.56) | (0.59) |
| 2022 | 13069 | 21.14 | 36.34 | 333603 |  | 0.25 | 1.45 | (16.31) | (15.45) |
| 2021 | 12637 | 25.26 | 42.98 | 384258 |  | 0.25 | 1.45 | 7.90 | 9.22 |
| T. Rowe Price Limited-Term Bond |  |  |  |  |  |  |  |  |  |
| 2025 | 13683 | 7.16 | 7.73 | 102775 | 5.51 | 0.25 | 1.25 | 1.13 | 1.98 |
| 2024 | 13888 | 7.08 | 7.58 | 102088 | 0.04 | 0.25 | 1.25 | 0.28 | 1.34 |
| 2023 | 13631 | 7.06 | 7.48 | 99621 | 0.03 | 0.25 | 1.45 | 0.28 | 1.36 |
| 2022 | 8392 | 7.04 | 7.38 | 59889 | 0.02 | 0.25 | 1.45 | (8.69) | (7.75) |
| 2021 | 8147 | 7.71 | 8.00 | 63544 | 0.01 | 0.25 | 1.45 | (4.46) | (3.38) |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Templeton Developing Markets VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 28172 | 11.96 | 24.34 | 613679 | 0.52 | 0.25 | 1.45 | 39.89 | 41.59 |
| 2024 | 27881 | 8.54 | 17.40 | 431069 | 0.04 | 0.25 | 1.45 | 2.96 | 4.16 |
| 2023 | 27369 | 8.27 | 16.90 | 408602 | 0.02 | 0.25 | 1.45 | 7.71 | 9.08 |
| 2022 | 17382 | 13.65 | 15.69 | 244945 | 0.02 | 0.25 | 1.45 | (25.39) | (24.50) |
| 2021 | 28408 | 18.08 | 21.03 | 456969 | 0.01 | 0.25 | 1.45 | (9.86) | (8.73) |
|  Templeton Foreign VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 18740 | 9.64 | 16.99 | 224962 | 2.42 | 0.25 | 1.45 | 23.58 | 25.02 |
| 2024 | 17140 | 7.79 | 13.59 | 167936 | 0.03 | 0.25 | 1.45 | (5.38) | (4.16) |
| 2023 | 18364 | 8.21 | 14.18 | 186950 | 0.05 | 0.25 | 1.45 | 15.61 | 16.90 |
| 2022 | 54229 | 7.56 | 12.13 | 513445 | 0.03 | 0.25 | 1.45 | (11.68) | (10.55) |
| 2021 | 54615 | 8.01 | 13.56 | 583009 | 0.02 | 0.25 | 1.45 | (0.37) | 0.82 |
|  Templeton Global Bond VIP Fund |  |  |  |  |  |  |  |  |  |
| 2025 | 14091 | 5.68 | 6.56 | 82240 |  | 0.25 | 1.25 | 10.94 | 11.95 |
| 2024 | 14576 | 5.12 | 5.86 | 76324 |  | 0.25 | 1.25 | (15.09) | (14.20) |
| 2023 | 14223 | 6.03 | 6.83 | 87369 |  | 0.25 | 1.45 | (1.47) | (0.44) |
| 2022 | 27002 | 6.12 | 6.86 | 176396 |  | 0.25 | 1.45 | (8.79) | (7.92) |
| 2021 | 28679 | 6.71 | 7.45 | 204921 |  | 0.25 | 1.45 | (9.20) | (8.02) |
|  VanEck VIP Global Gold |  |  |  |  |  |  |  |  |  |
| 2025 | 30025 | 24.28 | 24.54 | 735790 | 0.31 | 0.25 | 1.25 | 153.51 | 155.85 |
| 2024 | 5559 | 9.49 | 9.68 | 52952 | 0.01 | 0.25 | 1.25 | 9.63 | 10.86 |
| 2023 | 1271 | 8.83 | 8.83 | 11197 |  | 1.25 | 1.45 | 5.75 | 5.75 |
| 2022 | 1236 | 8.35 | 8.35 | 10290 |  | 1.45 | 1.45 | (16.92) | (16.92) |
| 2021 | 1202 | 10.05 | 10.05 | 12051 | 0.04 | 1.45 | 1.45 | (17.76) | (17.76) |
|  VanEck VIP Global Resources |  |  |  |  |  |  |  |  |  |
| 2025 | 4396 | 6.14 | 7.47 | 29056 | 3.17 | 0.25 | 1.25 | 30.37 | 32.04 |
| 2024 | 1508 | 4.65 | 5.73 | 8633 | 0.03 | 0.25 | 1.25 | (7.13) | (6.25) |
| 2023 | 1473 | 4.96 | 6.17 | 9073 | 0.05 | 0.25 | 1.45 | (7.77) | (6.94) |
| 2022 | 17489 | 5.33 | 6.69 | 95111 | 0.02 | 0.25 | 1.45 | 3.56 | 4.72 |
| 2021 | 17874 | 5.09 | 6.46 | 92866 | 0.00 | 0.25 | 1.45 | 13.53 | 14.90 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Vanguard<sup>®</sup> VIF Balanced |  |  |  |  |  |  |  |  |  |
| 2025 | 13368 | 15.73 | 17.97 | 224982 | 2.05 | 0.25 | 1.65 | 11.17 | 12.74 |
| 2024 | 13127 | 14.15 | 15.94 | 197417 | 0.03 | 0.25 | 1.65 | 9.52 | 11.16 |
| 2023 | 19469 | 12.92 | 14.34 | 260722 | 0.02 | 0.25 | 1.85 | 9.12 | 10.65 |
| 2022 | 19190 | 11.84 | 12.96 | 234385 | 0.02 | 0.25 | 1.85 | (18.18) | (17.03) |
| 2021 | 18925 | 14.47 | 15.62 | 281191 | 0.02 | 0.25 | 1.85 | 13.40 | 15.19 |
|  Vanguard<sup>®</sup> VIF Capital Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 6532 | 24.52 | 28.27 | 165076 | 0.91 | 0.25 | 1.65 | 23.09 | 24.87 |
| 2024 | 5863 | 19.92 | 19.92 | 116828 | 0.01 | 1.65 | 1.65 | 8.20 | 8.20 |
| 2023 | 4113 | 18.41 | 18.41 | 75722 | 0.01 | 1.65 | 1.85 | 22.16 | 22.16 |
| 2022 | 2016 | 15.07 | 15.07 | 30392 | 0.01 | 1.85 | 1.85 | (19.28) | (19.28) |
| 2021 | 3798 | 18.67 | 18.67 | 70943 | 0.01 | 1.85 | 1.85 | 15.75 | 15.75 |
|  Vanguard<sup>®</sup> VIF Conservative Allocation |  |  |  |  |  |  |  |  |  |
| 2025 | 2991 | 11.05 | 12.62 | 37767 | 4.58 | 0.25 | 1.65 | 7.59 | 9.08 |
| 2024 | 20054 | 10.27 | 11.57 | 209853 | 0.03 | 0.25 | 1.65 | 2.60 | 4.05 |
| 2023 | 20201 | 10.01 | 11.12 | 206260 | 0.02 | 0.25 | 1.85 | 7.29 | 8.91 |
| 2022 | 19643 | 9.33 | 10.21 | 186269 | 0.02 | 0.25 | 1.85 | (18.73) | (17.59) |
| 2021 | 15706 | 11.48 | 11.48 | 180320 | 0.02 | 1.85 | 1.85 | 0.97 | 0.97 |
|  Vanguard<sup>®</sup> VIF Diversified Value |  |  |  |  |  |  |  |  |  |
| 2025 | 50698 | 20.83 | 20.83 | 1056332 | 1.50 | 0.25 | 0.25 | 13.08 | 13.08 |
| 2024 | 45663 | 16.36 | 18.42 | 841345 | 0.02 | 0.25 | 1.65 | 9.65 | 11.23 |
| 2023 | 50534 | 14.92 | 16.56 | 824785 | 0.00 | 0.25 | 1.85 | 14.68 | 16.29 |
| 2022 | 10914 | 13.01 | 14.24 | 145444 | 0.01 | 0.25 | 1.85 | (15.52) | (14.32) |
| 2021 | 9492 | 15.40 | 16.62 | 148092 |  | 0.25 | 1.85 | 24.29 | 26.29 |
|  Vanguard<sup>®</sup> VIF Equity Income |  |  |  |  |  |  |  |  |  |
| 2025 | 50343 | 18.01 | 20.57 | 928668 | 2.44 | 0.25 | 1.65 | 11.45 | 13.08 |
| 2024 | 49738 | 16.16 | 18.19 | 820723 | 0.03 | 0.25 | 1.65 | 9.93 | 11.46 |
| 2023 | 49091 | 14.70 | 16.32 | 735331 | 0.03 | 0.25 | 1.85 | 3.16 | 4.62 |
| 2022 | 48458 | 14.25 | 15.60 | 701678 | 0.02 | 0.25 | 1.85 | (5.19) | (3.82) |
| 2021 | 46530 | 15.03 | 16.22 | 707598 | 0.02 | 0.25 | 1.85 | 19.38 | 21.32 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Vanguard<sup>®</sup> VIF Equity Index |  |  |  |  |  |  |  |  |  |
| 2025 | 109490 | 23.69 | 27.06 | 2936132 | 1.05 | 0.25 | 1.65 | 12.33 | 13.94 |
| 2024 | 108453 | 21.09 | 23.75 | 2547644 | 0.01 | 0.25 | 1.65 | 19.15 | 20.87 |
| 2023 | 105323 | 17.70 | 19.65 | 2050012 | 0.01 | 0.25 | 1.85 | 20.33 | 22.05 |
| 2022 | 48534 | 14.71 | 16.10 | 767320 | 0.01 | 0.25 | 1.85 | (21.92) | (20.81) |
| 2021 | 43966 | 18.84 | 20.33 | 877885 | 0.01 | 0.25 | 1.85 | 22.50 | 24.42 |
|  Vanguard<sup>®</sup> VIF Global Bond Index |  |  |  |  |  |  |  |  |  |
| 2025 | 1143 | 8.01 | 8.01 | 9157 | 3.03 | 1.65 | 1.65 | 0.88 | 0.88 |
| 2024 | 1111 | 7.94 | 7.94 | 8826 | 0.03 | 1.65 | 1.65 | (2.70) | (2.70) |
| 2023 | 1080 | 8.16 | 8.16 | 8814 | 0.02 | 1.65 | 1.85 | 1.75 | 1.75 |
| 2022 | 1051 | 8.02 | 8.02 | 8429 | 0.03 | 1.85 | 1.85 | (17.15) | (17.15) |
| 2021 | 1021 | 9.68 | 9.68 | 9885 | 0.02 | 1.85 | 1.85 | (6.47) | (6.47) |
|  Vanguard<sup>®</sup> VIF Growth |  |  |  |  |  |  |  |  |  |
| 2025 | 16228 | 26.03 | 29.73 | 427353 | 0.19 | 0.25 | 1.65 | 11.53 | 13.13 |
| 2024 | 11610 | 23.34 | 23.34 | 271003 |  | 1.65 | 1.65 | 27.05 | 27.05 |
| 2023 | 13058 | 18.37 | 18.37 | 239894 | 0.00 | 1.65 | 1.85 | 33.79 | 33.79 |
| 2022 | 13000 | 13.73 | 13.73 | 178526 |  | 1.85 | 1.85 | (36.38) | (36.38) |
| 2021 | 12940 | 21.58 | 21.58 | 279307 | 0.00 | 1.85 | 1.85 | 12.28 | 12.28 |
|  Vanguard<sup>®</sup> VIF High Yield Bond |  |  |  |  |  |  |  |  |  |
| 2025 | 10735 | 10.45 | 11.94 | 119193 | 7.43 | 0.25 | 1.65 | 4.19 | 5.76 |
| 2024 | 14579 | 10.03 | 11.29 | 152009 | 0.05 | 0.25 | 1.65 | 1.62 | 3.01 |
| 2023 | 17454 | 9.87 | 10.96 | 180043 | 0.05 | 0.25 | 1.85 | 6.59 | 8.09 |
| 2022 | 16980 | 9.26 | 10.14 | 163352 | 0.05 | 0.25 | 1.85 | (13.54) | (12.28) |
| 2021 | 17217 | 10.71 | 11.56 | 190749 | 0.04 | 0.25 | 1.85 | (1.20) | 0.35 |
|  Vanguard<sup>®</sup> VIF International |  |  |  |  |  |  |  |  |  |
| 2025 | 47138 | 16.26 | 18.57 | 852705 | 0.83 | 0.25 | 1.65 | 14.51 | 16.14 |
| 2024 | 45611 | 14.20 | 15.99 | 711767 | 0.01 | 0.25 | 1.65 | 4.03 | 5.47 |
| 2023 | 50506 | 13.65 | 15.16 | 746230 | 0.01 | 0.25 | 1.85 | 9.38 | 10.98 |
| 2022 | 28047 | 12.48 | 13.66 | 367815 | 0.01 | 0.25 | 1.85 | (33.26) | (32.31) |
| 2021 | 28915 | 18.70 | 20.18 | 560067 | 0.00 | 0.25 | 1.85 | (6.22) | (4.72) |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Vanguard<sup>®</sup> VIF Mid-Cap Index |  |  |  |  |  |  |  |  |  |
| 2025 | 38167 | 16.77 | 19.15 | 698970 | 1.23 | 0.25 | 1.65 | 6.41 | 7.95 |
| 2024 | 35175 | 15.76 | 17.74 | 600837 | 0.01 | 0.25 | 1.65 | 9.83 | 11.36 |
| 2023 | 36266 | 14.35 | 15.93 | 559640 | 0.01 | 0.25 | 1.85 | 10.64 | 12.18 |
| 2022 | 38848 | 12.97 | 14.20 | 537453 | 0.01 | 0.25 | 1.85 | (22.52) | (21.42) |
| 2021 | 40067 | 16.74 | 18.07 | 709214 | 0.01 | 0.25 | 1.85 | 18.47 | 20.39 |
|  Vanguard<sup>®</sup> VIF Moderate Allocation |  |  |  |  |  |  |  |  |  |
| 2025 | 138759 | 13.26 | 15.15 | 2078171 | 2.39 | 0.25 | 1.65 | 10.87 | 12.47 |
| 2024 | 137937 | 11.96 | 13.47 | 1839040 | 0.01 | 0.25 | 1.65 | 5.28 | 6.82 |
| 2023 | 167272 | 11.36 | 12.61 | 2091003 | 0.02 | 0.25 | 1.85 | 10.29 | 11.89 |
| 2022 | 108911 | 10.30 | 11.27 | 1215084 | 0.02 | 0.25 | 1.85 | (19.72) | (18.63) |
| 2021 | 102005 | 12.83 | 13.85 | 1399817 | 0.00 | 0.25 | 1.85 | 4.82 | 6.54 |
|  Vanguard<sup>®</sup> VIF Real Estate Index |  |  |  |  |  |  |  |  |  |
| 2025 | 8735 | 10.31 | 11.78 | 99639 | 2.85 | 0.25 | 1.65 | (1.62) | (0.17) |
| 2024 | 9591 | 10.48 | 11.80 | 108998 | 0.04 | 0.25 | 1.65 |  | 1.37 |
| 2023 | 8292 | 10.48 | 11.64 | 92937 | 0.02 | 0.25 | 1.85 | 6.61 | 8.18 |
| 2022 | 5056 | 9.83 | 10.76 | 51632 | 0.01 | 0.25 | 1.85 | (29.63) | (28.65) |
| 2021 | 10088 | 13.97 | 15.08 | 143170 | 0.01 | 0.25 | 1.85 | 33.56 | 35.73 |
|  Vanguard<sup>®</sup> VIF Short Term Investment Grade |  |  |  |  |  |  |  |  |  |
| 2025 | 98011 | 8.09 | 9.24 | 864625 | 4.69 | 0.25 | 1.65 | 1.89 | 3.36 |
| 2024 | 103575 | 7.94 | 8.94 | 877360 | 0.03 | 0.25 | 1.65 | 0.13 | 1.59 |
| 2023 | 77586 | 7.93 | 8.80 | 660534 | 0.01 | 0.25 | 1.85 | 1.28 | 2.68 |
| 2022 | 45708 | 7.83 | 8.57 | 371405 | 0.03 | 0.25 | 1.85 | (10.00) | (8.73) |
| 2021 | 37674 | 8.70 | 9.39 | 336499 | 0.02 | 0.25 | 1.85 | (5.13) | (3.59) |
|  Vanguard<sup>®</sup> VIF Small Company Growth (b) |  |  |  |  |  |  |  |  |  |
| 2025 | 5046 | 15.04 | 17.17 | 77714 | 0.46 | 0.25 | 1.65 | 1.28 | 2.69 |
| 2024 | 4923 | 14.85 | 16.72 | 74691 | 0.01 | 0.25 | 1.65 | 6.30 | 7.80 |
| 2023 | 4806 | 13.97 | 15.51 | 68423 | 0.00 | 0.25 | 1.85 | 14.23 | 15.83 |
| 2022 | 4698 | 12.23 | 13.39 | 58415 | 0.00 | 0.25 | 1.85 | (28.73) | (27.70) |
| 2021 | 4593 | 17.16 | 18.52 | 79926 | 0.00 | 0.25 | 1.85 | 8.81 | 10.57 |

---

(b) Closed to new investments. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Vanguard<sup>®</sup> VIF Total Bond Market Index |  |  |  |  |  |  |  |  |  |
| 2025 | 304969 | 7.42 | 8.47 | 2528670 | 3.57 | 0.25 | 1.65 | 2.06 | 3.55 |
| 2024 | 303446 | 7.27 | 8.18 | 2427867 | 0.03 | 0.25 | 1.65 | (3.32) | (2.04) |
| 2023 | 319038 | 7.52 | 8.35 | 2612104 | 0.01 | 0.25 | 1.85 | 0.80 | 2.20 |
| 2022 | 134151 | 7.46 | 8.17 | 1052635 | 0.02 | 0.25 | 1.85 | (17.20) | (15.95) |
| 2021 | 128716 | 9.01 | 9.72 | 1207992 | 0.02 | 0.25 | 1.85 | (6.34) | (4.89) |
|  Vanguard<sup>®</sup> VIF Total International Stock Market Index |  |  |  |  |  |  |  |  |  |
| 2025 | 21138 | 12.77 | 14.06 | 285509 | 2.89 | 0.25 | 1.65 | 26.06 | 27.82 |
| 2024 | 22332 | 10.13 | 11.00 | 236732 | 0.03 | 0.25 | 1.65 | 0.30 | 1.66 |
| 2023 | 18161 | 10.10 | 10.82 | 189365 | 0.02 | 0.25 | 1.85 | 10.26 | 11.89 |
| 2022 | 11678 | 9.16 | 9.67 | 107993 | 0.03 | 0.25 | 1.85 | (19.86) | (18.74) |
| 2021 | 12808 | 11.43 | 11.90 | 147460 | 0.02 | 0.25 | 1.85 | 3.44 | 5.12 |
|  Vanguard<sup>®</sup> VIF Total Stock Market Index |  |  |  |  |  |  |  |  |  |
| 2025 | 96582 | 22.53 | 25.72 | 2410353 | 1.16 | 0.25 | 1.65 | 11.65 | 13.15 |
| 2024 | 90112 | 20.18 | 22.73 | 1989465 | 0.01 | 0.25 | 1.65 | 18.01 | 19.76 |
| 2023 | 90002 | 17.10 | 18.98 | 1661795 | 0.01 | 0.25 | 1.85 | 20.25 | 21.98 |
| 2022 | 33908 | 14.22 | 15.56 | 493434 | 0.01 | 0.25 | 1.85 | (23.22) | (22.16) |
| 2021 | 37353 | 18.52 | 19.99 | 700754 | 0.01 | 0.25 | 1.85 | 19.64 | 21.59 |
|  Victory Pioneer Bond VCT Portfolio (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 21610 | 8.02 | 8.02 | 173267 | 4.28 | 1.25 | 1.25 | 4.29 | 4.29 |
| 2024 | 21418 | 7.69 | 7.69 | 164574 | 0.04 | 1.25 | 1.25 | (1.28) | (1.28) |
| 2023 | 21057 | 7.79 | 8.48 | 163895 | 0.04 | 0.25 | 1.45 | 2.23 | 3.29 |
| 2022 | 40755 | 7.62 | 8.21 | 322248 | 0.02 | 0.25 | 1.45 | (17.98) | (17.24) |
| 2021 | 41151 | 9.29 | 9.92 | 395225 | 0.02 | 0.25 | 1.45 | (4.13) | (2.94) |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Victory Pioneer Equity Income VCT Portfolio (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 985 | 16.92 | 16.92 | 16662 | 1.98 | 1.25 | 1.25 | 6.48 | 6.48 |
| 2024 | 957 | 15.89 | 15.89 | 15212 | 0.02 | 1.25 | 1.25 | 6.36 | 6.36 |
| 2023 | 931 | 14.94 | 14.94 | 13910 | 0.02 | 1.25 | 1.45 | 2.75 | 2.75 |
| 2022 | 905 | 14.54 | 14.54 | 13169 | 0.02 | 1.45 | 1.45 | (11.77) | (11.77) |
| 2021 | 880 | 16.48 | 16.48 | 14514 | 0.01 | 1.45 | 1.45 | 19.85 | 19.85 |
|  Victory Pioneer Strategic Income VCT Portfolio (a) |  |  |  |  |  |  |  |  |  |
| 2025 | 9797 | 8.55 | 8.55 | 83786 | 4.40 | 1.25 | 1.25 | 6.21 | 6.21 |
| 2024 | 9691 | 8.05 | 8.05 | 78014 | 0.04 | 1.25 | 1.25 | (0.37) | (0.37) |
| 2023 | 10632 | 8.08 | 8.08 | 85953 | 0.04 | 1.25 | 1.45 | 3.46 | 3.46 |
| 2022 | 10701 | 7.81 | 7.81 | 83541 | 0.03 | 1.45 | 1.45 | (16.47) | (16.47) |
| 2021 | 15743 | 9.35 | 9.35 | 147139 | 0.03 | 1.45 | 1.45 | (2.71) | (2.71) |
|  Virtus Duff & Phelps Real Estate Securities Series |  |  |  |  |  |  |  |  |  |
| 2025 | 1313 | 12.83 | 12.83 | 16860 | 2.68 | 1.25 | 1.25 | (3.46) | (3.46) |
| 2024 | 1277 | 13.29 | 14.48 | 16984 | 0.02 | 0.25 | 1.25 | 6.24 | 7.34 |
| 2023 | 1245 | 12.51 | 13.49 | 15578 | 0.02 | 0.25 | 1.45 | 6.47 | 7.49 |
| 2022 | 5658 | 11.75 | 12.55 | 70006 | 0.01 | 0.25 | 1.45 | (29.17) | (28.41) |
| 2021 | 5820 | 16.59 | 17.53 | 100899 | 0.01 | 0.25 | 1.45 | 40.12 | 41.71 |
|  Virtus KAR Small-Cap Growth Series |  |  |  |  |  |  |  |  |  |
| 2025 | 7942 | 20.39 | 22.99 | 170141 |  | 0.25 | 1.25 | (25.85) | (25.11) |
| 2024 | 9608 | 27.50 | 30.70 | 272629 |  | 0.25 | 1.25 | 5.16 | 6.23 |
| 2023 | 11667 | 26.15 | 28.90 | 311687 |  | 0.25 | 1.45 | 14.74 | 15.88 |
| 2022 | 11558 | 22.79 | 24.94 | 268510 |  | 0.25 | 1.45 | (33.23) | (32.54) |
| 2021 | 25408 | 34.13 | 36.97 | 879849 |  | 0.25 | 1.45 | 0.41 | 1.62 |

---

(a) Name change. See Note 1.

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Subaccount** | **Units** | **Unit**<br>**Values**<br>**Lowest**<br>**($) (4)** | **Unit**<br>**Values**<br>**Highest**<br>**($) (4)** | **Net**<br>**Assets ($)** | **Invest-<br>ment**<br>**Income**<br>**Ratios**<br>**(1)** | **Expense**<br>**Ratios**<br>**Lowest**<br>**(%) (2)** | **Expense**<br>**Ratios**<br>**Highest**<br>**(%) (2)** | **Total**<br>**Returns**<br>**Lowest**<br>**(%) (3)(4)** | **Total**<br>**Returns**<br>**Highest**<br>**(%) (3)(4)** |
|  Virtus Newfleet Multi-Sector Intermediate Bond Series |  |  |  |  |  |  |  |  |  |
| 2025 |  | 9.03 | 9.97 |  |  | 0.25 | 1.25 | 3.08 | 4.18 |
| 2024 |  | 8.76 | 8.76 |  | 0.01 | 1.25 | 1.25 | 1.51 | 1.51 |
| 2023 | 1076 | 8.63 | 8.63 | 9314 | 0.05 | 1.25 | 1.45 | 4.10 | 4.10 |
| 2022 | 1046 | 8.29 | 8.29 | 8695 | 0.01 | 1.45 | 1.45 | (13.28) | (13.28) |
| 2021 | 6417 | 9.56 | 9.56 | 61347 | 0.03 | 1.45 | 1.45 | (3.34) | (3.34) |
|  Virtus SGA International Growth Series |  |  |  |  |  |  |  |  |  |
| 2025 | 6515 | 8.49 | 8.49 | 55302 | 0.18 | 0.25 | 0.25 | 5.73 | 5.73 |
| 2024 | 6495 | 8.03 | 8.03 | 52130 |  | 0.25 | 0.25 | (8.65) | (8.65) |
| 2023 | 6493 | 8.79 | 8.79 | 57031 | 0.00 | 0.25 | 0.25 | 14.30 | 14.30 |
| 2022 | 25077 | 7.69 | 7.69 | 192874 |  | 0.25 | 0.25 | (21.21) | (21.21) |
| 2021 | 26748 | 9.76 | 9.76 | 261079 |  | 0.25 | 0.25 | 4.83 | 4.83 |
|  Voya MidCap Opportunities Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 3653 | 18.76 | 18.76 | 68517 |  | 1.25 | 1.25 | (0.79) | (0.79) |
| 2024 | 3564 | 18.91 | 18.91 | 67401 |  | 1.25 | 1.25 | 10.39 | 10.39 |
| 2023 | 3477 | 17.13 | 17.13 | 59558 |  | 1.25 | 1.45 | 18.22 | 18.22 |
| 2022 | 3392 | 14.49 | 14.49 | 49144 |  | 1.45 | 1.45 | (28.48) | (28.48) |
| 2021 | 3310 | 20.26 | 20.26 | 67072 |  | 1.45 | 1.45 | 6.74 | 6.74 |
|  VY CBRE Global Real Estate Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 1147 | 9.04 | 10.43 | 11743 | 2.41 | 0.25 | 1.25 | 1.92 | 2.96 |
| 2024 | 1127 | 8.87 | 10.13 | 11227 | 0.02 | 0.25 | 1.25 | (4.21) | (3.25) |
| 2023 | 2653 | 9.26 | 10.47 | 25732 | 0.02 | 0.25 | 1.45 | 7.42 | 8.61 |
| 2022 | 2592 | 8.62 | 9.64 | 23316 | 0.03 | 0.25 | 1.45 | (28.35) | (27.63) |
| 2021 | 2748 | 12.03 | 13.32 | 34541 | 0.03 | 0.25 | 1.45 | 28.12 | 29.57 |
|  VY CBRE Real Estate Portfolio |  |  |  |  |  |  |  |  |  |
| 2025 | 1873 | 13.38 | 13.38 | 25072 | 2.52 | 0.25 | 0.25 | (3.32) | (3.32) |
| 2024 | 1819 | 13.84 | 13.84 | 25176 | 0.02 | 0.25 | 0.25 | 0.80 | 0.80 |
| 2023 | 1768 | 13.73 | 13.73 | 24280 | 0.02 | 0.25 | 0.25 | 10.28 | 10.28 |
| 2022 | 1720 | 12.45 | 12.45 | 21422 | 0.01 | 0.25 | 0.25 | (29.58) | (29.58) |
| 2021 | 1673 | 17.68 | 17.68 | 29575 | 0.02 | 0.25 | 0.25 | 46.97 | 46.97 |

---

------

##### [**Table of Contents**](#toc)
Variable Annuity Account A

Notes to Financial Statements (continued)

4. Financial Highlights (continued)

(1) These amounts 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. Average net assets is a simple average of net assets and will not reflect offsetting changes in net assets occurring within a
year. 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 subaccount invests.

(2) These ratios represent the annualized contract expenses of the Account, consisting primarily of administrative
and mortality and expense charges, for each period indicated. The ratios include only those expenses that result in a direct reduction to the unit values. Charges made directly to contract owner accounts through the redemption of units and expenses
of the underlying fund are excluded. The additional fees for the mortality and expense risk charges applied to policies whose contract values are less than $100,000 are excluded from these ratios because they result in reductions of contract owner
units, rather than direct reductions to the unit values. See Note 2.

(3) These amounts represent the total return for the periods 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. The total return is calculated for the period indicated or from the inception date through the end of the reporting period.

(4) Unit value information is calculated on a daily basis regardless of whether or not the subaccount has
contractholders.

**5. Subsequent Events** 

The Account has performed an evaluation of subsequent events through the date the financial statements were issued and has determined that no items require recognition or disclosure.